Current Affairs Today 2 July 2020

Current Affairs Today 2 July 2020

Hello Aspirants, Here we provide the important and Latest Current Affairs Today 2 July 2020, which have Latest updates of Current Affairs 2020 from all the newspapers such as The Hindu, The Economics Times, PIB, Times of India, Business Standard, Financial Express, Indian Express and all other official Government websites.

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Top 20 Current Affairs of 2 July 2020

National News

PM Announces Extension of Pradhan Mantri Garib Kalyan Ann Yojana till November

• Prime Minister Narendra Modi today extended PM Garib Kalyan Anna Yojana for a further five months till November-end for distributing free foodgrains to the poor.PM Modi said that the government will keep providing free foodgrains to the poor section of the society due to the increased need during the festivals.
• The PM further said that the government will incur an additional expenditure of Rs  90,000 crore to provide 5 kg rice or wheat and 1 kg gram every month to the poor.
• He highlighted that the free distribution of foodgrains to 80 crore people in India could feed 2.5 times the US population, 12 times the UK population and, twice the European Union’s population……Click Here to Read More

Implementation of Amendments in the Indian Stamp Act, 1899 and Rules Made From 1st July, 2020

• The amendments in the Indian Stamp Act, 1899 brought through Finance Act 2019 and Rules made thereunder will come into effect from July 1.
• “In order to facilitate ease of doing business and to bring in the uniformity of the stamp duty on securities across States and thereby build a pan-India securities market, the Central Government, after due deliberations and consultations with the States, through requisite amendments in the Indian Stamp Act, 1899 and Rules made thereunder, has created the legal and institutional mechanism to enable states to collect stamp duty on securities market instruments at one place by one agency (through Stock Exchange or Clearing Corporation authorized by it or by the Depository) on one instrument,” read an official statement issued by the Finance Ministry……Click Here to Read More

Government Declares Entire Nagaland ‘Disturbed Area’ For 6 More Months

• The Centre on Monday declared the whole of Nagaland as a “disturbed” area under the Armed Forces (Special Powers) Act, 1958, for a further period of six months.
• A gazette notification said the Centre was of the opinion that the area comprising whole of Nagaland is in such a disturbed condition that the use of armed forces in aid of civil power is necessary.
• “Now, therefore, in exercise of the powers conferred by Section 3 of the Armed Forces (Special Powers) Act, 1958 (No. 28 of 1958), the Central government hereby declares that the whole of the said State to be a ‘disturbed area’ for a period……Click Here to Read More

India, Japan Conduct Naval Exercise Amid China Row

• Amid the ongoing standoff between India and China at the Line of Actual Control (LAC) in Ladakh, the warships of Indian and Japanese held a small exercise towards the Malacca strait in the Indian Ocean Region (IOR).
• Indian Navy’s Rajput-class destroyer INS Rana and Kora-class missile corvette INS Kulish took part in the exercise with JS Shimayuki and JS Kashmia of Japanese Maritime Self-Defence Forece’s training squadron.
• The report quoted sources as saying that though the exercise was largely a “PASSEX (Passing Exercise)”, it definitlely amounts to some strategic signalling for China……Click Here to Read More

Government to Release Commemorative Stamp on Former PM PV Narasimha Rao

• The Centre on Monday announced the release of a commemorative stamp in the honour of former PM PV Narasimha Rao. The decision comes a day after the national celebrated the 100th birth anniversary of Rao.
• Rao served as the ninth Prime Minister of India from 1991 to 1996. He was born on June 28, 1921 in Warangal, now in Telangana. He is revered as the ‘Father of Indian Economic Reforms.’
• Meanwhile, Telangana government led by K Chandrasekhar Rao has demanded to confer the Bharat Ratna, the highest civilian award in the country, on Narasimha Rao. KCR said that Rao changed the country’s destiny and deserves the award……Click Here to Read More

NITI Aayog Releases ‘Towards a Clean Energy Economy’ Report

• A new report by NITI Aayog and Rocky Mountain Institute (RMI) identifies how COVID-19 is beginning to influence the clean energy transition in India, specifically for the transport and power sectors. The report recommends principles and strategic opportunities for the country’s leaders to drive economic recovery and maintain momentum towards a clean energy economy.
• COVID-19 has presented significant demand- and supply-side challenges for India’s transport and power sectors, from liquidity constraints and supply shortages to shifts in consumer demand and preferences. The new report, titled Towards a Clean Energy Economy: Post-COVID-19 Opportunities for India’s Energy and Mobility Sectors, advocates for stimulus and recovery efforts that work towards building a clean, resilient, and least-cost energy future for India……Click Here to Read More

India-Bangladesh Form 50:50 Joint Venture Company For LPG Business in Bangladesh

• India and Bangladesh on Tuesday signed an agreement for the formation of a 50:50 Joint Venture Company (JVC) for LPG business in Bangladesh.
• According to a press release issued by the High Commission of India in Bangladesh, the agreement was signed between the IOC Middle East FZE, Dubai, a wholly-owned subsidiary of Indian Oil Corporation (IOC) and RR Holdings Ltd., Ras Al Khaimah, UAE, the holding company of Beximco LPG of Bangladesh.
• The Joint Venture Company (JVC) will help reduce the import cost of LPG and make it available at an affordable price to the people of Bangladesh. The JVC also plans to diversify into other linked businesses like LNG, Petrochemicals, and LPG export to North East India through pipeline……Click Here to Read More

Giriraj Singh Launches 1st Edition of Fisheries, Aquaculture Newsletter ‘Matsya Sampada’

• Union Minister for Fisheries, Animal Husbandry and Dairying Giriraj Singh on Tuesday launched the first edition of the Fisheries and Aquaculture Newsletter ‘Matsya Sampada’ published by the Department of Fisheries, Ministry for Fisheries, Animal Husbandry and Dairying and the Operational Guidelines of the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
• Minister of State for Fisheries, Animal Husbandry and Dairying Pratap Chandra Sarangi, Dr Rajeev Ranjan, Secretary, Department of Fisheries and senior officers of the Department of Fisheries were present.
• The Newsletter ‘Matsya Sampada’ is an outcome of the endeavours of the Department of Fisheries to reach out to the stakeholders especially fishers and fish farmers through various means of communication, and to inform and educate them about the latest developments in the fisheries and aquaculture sector……Click Here to Read More

IndianOil, NTPC, SDMC Sign Tripartite MoU to Develop Waste-to-Energy Facilities

• Indian Oil Corporation Limited (IndianOil), NTPC and South Delhi Municipal Corporation (SDMC) have signed a tripartite MoU here today for development of waste-to-energy facilities at SDMC’s landfill site in Okhla.
• As per the MoU signed in the presence of Dharmendra Pradhan, Union Minister of Petroleum and Natural Gas and Steel, RK Singh, Minister of State (I/c), Power and New & Renewable Energy, Government of India and Anil Baijal, Lieutenant Governor of Delhi here today, SDMC would provide 1-acre land on lease at the landfill site, while IndianOil and NTPC will invest 50 per cent each towards setting up and operating the facilities.
• Speaking on the occasion, Pradhan mentioned GOI’s thrust on promotion of bio-fuels and the SATAT scheme on CBG. He elaborated on Prime Minister’s vision of India’s energy future viz. energy access, energy efficiency,……Click Here to Read More

Government Launches World’s First Online B.Sc Degree in Programming and Data Science

• Human Resources and Development Minister Ramesh Pokhriyal Nishank today virtually launched World’s first ever online B.Sc. degree in Programming and Data Science.
• The programme has been prepared and offered by the Indian Institute of Technology, IIT Madras.
• Data Science is one of the fastest growing sectors that is predicted to create 11.5 million jobs by 2026.
• Online education is a trend being rapidly embraced for high quality education on a large scale……Click Here to Read More

International News

New Zealand Cancels 2021 Asia-Pacific Economic Cooperation Summit

• New Zealand on Tuesday canceled its plans to host a major meeting of U.S. and Asian leaders next year because of the coronavirus, opting instead to lead a virtual summit.
• New Zealand was scheduled to host the Asia-Pacific Economic Cooperation forum in Auckland. The event would have brought thousands of people to the country throughout the year, culminating in a leader’s week in November 2021.
• APEC focuses on trade issues, although it also provides a chance for world leaders to catch up. Its 21 members include the U.S., China, Japan, South Korea, Mexico, Indonesia and Hong Kong.
• Last year, Chile canceled the APEC leaders’ meeting because of violent anti-government protests. This year Malaysia has been hosting virtual APEC meetings. New Zealand’s Deputy Prime Minister Winston Peters said it was necessary to cancel next year’s summit now for planning and security reasons……Click Here to Read More

India Joins ‘Alliance For Poverty Eradication’ at UN as Founding Member

• United Nations, India has become a founding member of an Alliance for Poverty Eradication at the UN, launched by the President of the General Assembly, aimed at focussing on efforts to boost global economy in the aftermath of the COVID-19 pandemic. President of 74th Session of the UN General Assembly Tijjani Muhammad-Bande will formally launch the ‘Alliance for Poverty Eradication’ on June 30, which he said will serve as a forum for Member States to raise awareness about danger that poverty poses to world peace, human rights and sustainable development. He will also galvanise Member States, the international community and other stakeholders to support actions geared towards poverty eradication.
• India has joined the alliance as a founding member and stressed that ending poverty is not just about monetary compensation but guaranteeing access of poor to quality education, healthcare, clean water, sanitation, decent housing and social security……Click Here to Read More

WTO Sets Up Dispute Panel on India’s ICT Tariffs Based on EU’s Complaint

• The World Trade Organisation (WTO) has agreed to a second request from the European Union for the establishment of a dispute settlement panel to rule on India’s import tariffs on certain information and communication technology (ICT) goods.
• First requests for panels on India’s ICT tariffs from Japan and Chinese Taipei were, however, blocked by India.
• The requests for dispute panels against India’s tariffs on ICT products such as mobile phones, cameras, headphones and earphones, by the three members, was examined by the Dispute Settlement Body (DSB) of the WTO on Monday.
• India does not immediately run the risk of retaliatory measures from the complaining countries if the panel’s ruling……Click Here to Read More

Business News

World Bank to Give USD 750 Million Budget Support to Indian Small Businesses

• The World Bank on Wednesay approved a $750 million loan to support increased flow of finance into the hands of India’s micro, small, and medium enterprises (MSMEs), severely impacted by the Covid-19 crisis.
• The World Bank’s MSME Emergency Response program will aim to address the immediate liquidity and credit needs of some 1.5 million viable MSMEs to help them withstand the impact of the current shock and protect millions of jobs. This takes the World Bank’s total commitment to $2.75 billion to support India’s emergency Covid-19 response.
• The first $1 billion emergency support was announced in April this year for immediate support to India’s health sector. Another $1 billion project was approved……Click Here to Read More

HDFC Bank Unveils ‘e-Kisaan Dhan’ App For Farmers in Rural India

• HDFC Bank on Tuesday launched ”e-Kisaan Dhan” app for farmers across India to access a bouquet of agricultural and banking services on their mobile.
• The app, which serves as a repository of knowledge and information for any individual engaged in farming, helps meet needs of the rural ecosystem.
• The app will also provide value-added services, like mandi prices, latest farming news, weather forecast, information on seed varieties, SMS advisory, e-pashuhaat and Kisan TV, according to a HDFC Bank statement.
• Users can also avail multiple banking services, like procuring……Click Here to Read More

Appointments & Resignations

Shrikant Madhav Vaidya Takes Charge as IOC Chairman, Succeeds Sanjiv Singh

• Mr Shrikant Madhav Vaidya has taken over as the Chairman of Indian Oil Corporation Ltd. here today.Concurrently, he will also be Chairman of Chennai Petroleum Corporation Ltd., a stand-alone refining subsidiary of Indian Oil and Indian Oiltanking Limited, another joint venture providing ‘terminalling’ services apart from being on the board of Hindustan Urvarak & Rasayan Ltd., a joint venture setting up three world-scale fertiliser plants.
• Mr Vaidya, who is on the board of Ratnagiri Refinery & Petrochemicals Ltd., will be taking over as its Chairman and will also be Director on the Board of M/s Petronet LNG Limited.
• Prior to his elevation, Mr Vaidya was the Director (Refineries) on the IndianOil Board, since October 2019. He succeeds Mr Sanjiv Singh who has superannuated from the services of the Corporation.

Union Bank of India CEO Rajkiran Rai Gets 2-Year Extension

• The government of India has granted Union Bank of India’s managing director and chief executive officer Rajkiran Rai a two-year extension amid the bank’s ongoing merger exercise. The government, through the department of financial services of the finance ministry, issued the order on the day Rai’s term was to end.
• Which was to end on June 30, 2020 has now been extended till May 31, 2022, or until further orders, whichever is earlier.
• The extension comes amid the bank’s integration with Andhra Bank and Corporation Bank, which came into effect on April 1, 2020. The merger has made Union Bank the fifth largest public sector bank in the country with assets of over Rs 14.5 lakh crore.
• While the merger has been effected, the back-end integration is still ongoing and is expected to be completed only by the year end.
• Rai was appointed the MD and CEO of Union Bank of India in May 2017 for a period of three years. He has over three decades of experience in the field of banking, and was an executive director at Oriental Bank of Commerce prior to joining Union Bank of India.

About UBI-

Union Bank of India is one of the largest government-owned banks of India with 120+ million customers and a total business of US$106 billion. After the amalgamation with Corporation Bank and Andhra Bank, which came into effect on 1 April 2020, the amalgamated entity becomes the fourth largest bank in terms of branch network and fifth largest in terms of business.

• Founded – 11 November 1919
• Headquarters – Mumbai
• Chairman & Part-Time Non-Official Director– Kewal Handa

Shri Ravinder Bhakar assumes charge as CEO of Central Board of Films Certification

• Shri Ravinder Bhakar, a 1999 batch officer of Indian Railway Stores Service (IRSS), has taken over as the Chief Executive Officer (CEO) of Central Board of Films Certification (CBFC) on 30 June 2020.
• Prior to this, Mr. Bhakar was posted as the Secretary & Chief Public Relations Officer of Western Railways.He succeeds Anurag Srivastava.
• Bhakar is a Mechanical engineer from MNIT, Jaipur.  In his distinguished career as an Indian Engineering Services officer, Shri Bhakar has rich experience of holding many important posts in Indian Railways. He is also recipient of many prestigious awards, including the National award from Minister of Railways for outstanding service & General Manager Award both in Western Railways (WR) & Central Railways (CR) for exemplary service.

About CBFC-

The Central Board of Film Certification is a statutory film-certification body in the Ministry of Information and Broadcasting of the Government of India. It is tasked with “regulating the public exhibition of films under the provisions of the Cinematograph Act 1952.

• Founded – 1951
• Headquarters – Mumbai
• Chairperson– Prasoon Joshi

Important Days

National Doctors Day 2020 – History, Theme, Significance

• Every year on July 1, the country celebrates National Doctor’s Day which is celebrated in order to express our gratitude to the medical staff for their dedicated service. However, in the year 2020, the day holds a special significance considering the fact how our doctors and physicians are working day and night during the COVID-19 pandemic. Fighting the risk of infection by wearing PPE kits and serving the patients is what our doctors have been doing from the past few months and therefore it becomes important for all of us to thank them for their selfless service.
• For those unversed, July 1 marks the birth, as well as the death anniversary of one of the most renowned physicians in India, Dr. Bidhan Chandra Roy. He was also the second chief minister of West Bengal……Click Here to Read More

Chartered Accountants Day 2020- Theme, History, Significance

• Chartered Accountants Day is being celebrated on July 1. An act of Parliament gave birth to the Institute of Chartered Accountants of India (ICAI) on July 1, 1949. It is the national accounting body of India. It is the second-largest professional accounting and finance body in the world in terms of members, with a current roster of about 2.5 lakhs members.This year, it is celebrating the 72^nd Chartered Accountants day.
• This year, it is celebrating the 72^nd Chartered Accountants day.
• The Institute of Chartered Accountants of India is the only licensing and regulatory body for the financial audit and accounting profession in India. Everyone follows its recommendations from the National Financial Reporting Authority (NFRA) to other accounting institutions……Click Here to Read More

Current Affairs Today

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