Current Affairs - May 25, 2020 Current Affairs

Insurance Regulatory and Development Authority of India formulated nine-member expert panel headed by New India Assurance Chairman & Managing Director Atul Sahai has recommended an increase in indemnity (protection against finances) being provided to the policyholders under Trade Credit Insurance from existing 85% of the trade receivables from each buyer to 90%.

Osaka, a two-time Grand Slam champion, ranks No. 29 on the 2020 Forbes list of the world's 100 top-paid athletes while Williams is No. 33. Japanese tennis star Naomi Osaka has become the highest paid female athlete in the world, topping American great Serena Williams.

Actor Mohit Baghel, best known for playing Amar Chaudhary in superstar Salman Khan's "Ready", has died of cancer. He was 26.

The Private sector ICICI bank has introduced a special fixed deposit scheme for senior citizens called 'ICICI Bank Golden Years FD' which offers an interest rate of 6.55% per annum for deposits up to Rs 2 crores with a tenure of more than 5 years to 10 years. It is applicable for resident Indians & is available from May 20 to September 30, 2020.

Sh. Prakash Javadekar inaugurated the first-of-its-kind digital Model Conference of Parties 2020 to involve the younger generation in conversations around the impact of humanity's footprint on biodiversity and also the importance of sustenance of biodiversity for our own survival.

Maruti Suzuki India Limited (MSIL) has joined hands with Cholamandalam Investment and Finance Company Limited(CIFCL) to offer customised auto retail financing solutions to customers across India. Coronavirus (COVID-19) outbreak caused a sharp decline in car sales & to speed up sales, car companies are offering various types of finance schemes to entice customers.

The union ministry of minority affairs on 23 May said it will restart the Hunar Haat or crafts fair for artisans and craftsperson from September, focusing on the theme local to global. The crafts fairs have been put on hold in the wake of the corona pandemic. "Hunar Haat" for artisans and craftsmen to resume from September 2020 with theme of "Local to Global".

Dr Jitendra Nath Pande, an eminent pulmonologist and former head of the Department of Medicine at the All India Institute of Medical Sciences in Delhi, who had tested positive for COVID-19 earlier this week, died at his residence on 23 May. He was 79.

Australian tennis great Ashley Cooper dies at 83. Australian tennis great Ashley Cooper, who won four Grand Slam singles titles in the 1950s, died after a long battle with illness on 22 May.

The centre has constituted a 11 member high-level committee to "simplify and expedite" the drug approval process in India. The committee chaired by Rajesh Bhushan, Officer on Special Duty, Ministry of Health was set up by the Ministry of Health and Family Welfare(MoHFW) on May 11 as a measure to reform the drug regulatory system in India.

The purpose of World Turtle Day, May 23, sponsored yearly since 2000 by American Tortoise Rescue, is to bring attention to, and increase knowledge of and respect for, turtles and tortoises, and encourage human action to help them survive and thrive.

Edelweiss General Insurance launched 'Edelweiss SWITCH', an app-based motor insurance own damage floater policy under IRDAI's sandbox regulations. This driver-based motor insurance allows the owners of the vehicles to cover multiple vehicles under a single policy. Executive Director & CEO of Edelweiss General Insurance is Shanai Ghosh.

Union Environment, Forest, and Climate Change Minister Prakash Javadekar launched five key initiatives towards conservation of biodiversity during the virtual celebration of "International Day for Biological Diversity (IDB)" on the theme "Our solutions are in nature". The minister launched the National Biodiversity Authority (NBA) and United Nations Development Programme (UNDP) Biodiversity Samrakshan Internship Programme which proposes to engage 20 students with postgraduate degrees for a period of one year through an open, transparent, online competitive process.

The Odisha government on 23 May imposed a 50% 'Special COVID Fee' on the maximum retail price of liquor while allowing home delivery of alcohol in the State from 24 May. The government amended relevant provisions under the Odisha Excise Rules, 2017, for facilitating home delivery of liquor. Existing liquor shops situated in areas other than containment zones and shopping malls can start home delivery of liquor.

Former Tamil Nadu football player and coach R Shanmugam passed away on 23 May due to age-related illness. He was 77 and is survived by two sons and a daughter.