Current Affairs - May 24, 2020 Current Affairs

Insurance Regulatory and Development Authority of India has approved the proposal of the state owned lender Union Bank of India (which holds 25.1% stake in Star Union Dai-Chi Life) to continue with its 30% holding in IndiaFirst Life.

Bharti Airtel acquired a 10% strategic stake in Voicezen, a Gurgaon based startup in early stage focused on conversational AI technologies under the fast expanding Airtel Startup Accelerator Program as a part of its strategy to deliver highly differentiated service experience. The acquisition was made in an all cash transaction basis and the deal is expected to close by May 30.

A team of Scientists at the Agharkar Research Institute based in Pune (Maharashtra) have mapped two alternative dwarf genes - Rht14 and Rht18- in wheat that can eliminate rice crop residue burning i.e stubble burning - one of the key sources of air pollution in north India during early winter.

Indian economist Abhas Jha has been appointed by the World Bank to a key position on climate change and disaster management in South Asia. Jha's appointment comes during the time when Cyclone Amphan has badly hit West Bengal, Orissa in India, and Bangladesh.

The Textiles Committee, Mumbai (Maharashtra) of Ministry of Textiles was named as the ninth approved laboratory to test and certify Personal Protection Equipment body coveralls produced in the country for healthcare workers and other COVID-19 warriors. The Textiles Committee has worked hard to develop the testing equipment namely "Synthetic Blood Penetration Testing equipment" for Determination of the resistance of Protective Clothing materials to penetration by blood and body fluids. Current Union Textile Minister is Smriti Zubin Irani.

The United Nations (UN) has listed Manipur's "khudol" (gift) among the top 10 global initiatives for an inclusive fight against the COVID-19 pandemic. It was listed by the United Nations Secretary-General's Envoy on Youth. Khudol is a crowdfunded initiative of Ya_All. The initiative aims to ensure food supplies and health services for the people living with HIV, daily-wage earners, LGBTQI+ community, children, and adolescents.

Government has notified the amendments to the General Financial Rules 2017 to ensure that goods and services valued less than Rs 200 crores are procured from domestic firms, which states that the global tenders will be banned for government procurement upto 200 crores as announced in the AatmanirbharBharat Package. This move will boost domestic suppliers, particularly Micro, Small and Medium Enterprises.

Popular author Ruskin Bond has authored a book titled 'Hop On: My Adventures on Boats, Trains and Planes'. The e-book format was released on the occasion of his 86th birthday. The illustration has been done by Samrat Halder and published by Speaking Tiger's children's imprint Talking Cub.

The Reserve Bank of India (RBI) has released its Monetary Policy Statement 2020-21 in Mumbai , Maharashtra. The three-day (May 20 to 22,2020) Monetary Policy Committee virtual meeting by the 6 members was headed by RBI Governor Shaktikanta Das with the members Dr. Pami Dua, Dr. Ravindra H. Dholakia, Dr. Janak Raj, Dr. Michael Debabrata Patra and Dr. Chetan Ghate.

Union Defence Minister Rajnath Singh participates in Micro, Small and Medium Enterprises E-conclave, "Society of Indian Defence Manufacturers MSME Conclave 2020", jointly organised by SIDM, Confederation of Indian Industry and Department of Defence Production. The Theme of the E-conclave is 'Business Continuity for MSMEs in Defence & Aerospace Sector' in which more than 800 Defence MSMEs participated.

International Day for Biological Diversity is celebrated every year May 22 globally. The day was declared by the United Nations to raise awareness and increase understanding of biodiversity issues. Biological Diversity is not limited to nature alone, but also plants, animals, microorganisms and different ecosystems. Theme for the year 2020 is Our solutions are in nature.

The World Bank announced emergency operations worth USD 160 billion to 100 developing countries over a 15-month period to fight the deadly Coronavirus. The coronavirus pandemic and shutdown is expected to put over 60 million into extreme poverty globally.

Researchers at Centre for Nano and Soft Matter Sciences, Bangalore developed a cup-shaped design mask that helps to create enough space in front of the mouth while speaking to tackle COVID-19. It has been transferred to a Bangalore based company for mass production.

A rare palm of South Andaman Island 'Pinanga andamanensis' will be grown in Palode (Kerala) with the help of Jawaharlal Nehru Tropical Botanic Garden and Research Institute. Pinanga andamanensis was recorded as a time-extinct species, is related to Areca Palm. Only 600 plants specimens are found in a small area of '??Mount Harriet National Park' in South Andaman.

Union Minister of Health & Family Welfare, Dr. Harsh Vardhan participated in the Non-Aligned Movement Health Ministers meeting through video conference. The NAM Summit is organised in a time when international community faces a pandemic and the meeting was chaired by Minister of Health, Republic of Azerbaijan, Mr. Ogtay Shiraliyev. The Non-Aligned Movement was originated in the Bandung Conference of April 1955 inspired by Jawaharlal Nehru of India, Josip Broz Tito of Yugoslavia and Gamal Abdel Nasser of Egypt to promote and reinforce multilateralism and established in 1961.

Indian Institute of Technology Madras developed 'Parabolic Trough Collector', a new trough collector equipped with enhanced energy to serve industries. The discovery is expected to pave the way for sustainable energy solutions in agriculture and industrial process heat sectors. It has been designed in a way to help manufacturers in solar energy devices.

State-owned Ircon International Limited has signed a Memorandum of Understanding with RZD International L.L.C. (Limited Liability Company), a subsidiary of government-owned Russian Railways Company, to explore opportunities for joint development of railways and other infrastructure projects in Asia, Africa and Latin America.

International Day to End Obstetric Fistula is observed on 23 May. The day is celebrated by the United Nations. In 2003, the United Nations Population Fund , formerly known as the United Nations Fund for Population Activities and its partners had launched a global campaign to End Obstetric Fistula. The theme for 2020 IDEOF is "End gender inequality! End health inequities! End Fistula now!".

Institute of Advanced Study in Science and Technology , Guwahati, developed an electrochemical sensing platform. It will detect carcinogenic or mutagenic compound N-nitrosodimethylamine and N-nitrosodiethanolamine that are found in food items like cured meat, bacon, some cheese, and low-fat milk. It was achieved by developing a modified electrode by immobilizing carbon nanomaterials in Deoxyribonucleic acid.

The Indian Council of Medical Research has announced that it is to replace hydroxychloroquine with Kangra tea to improve immunity and possibly reduce viral replication, in the revised protocol. The chemicals in Kangra tea will be effective in boosting immunity as they can block coronavirus activity better than anti-HIV drugs.