Current Affairs Today 25 June 2020
Hello Aspirants, Here we provide the important and Latest Current Affairs Today 25 June 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 10 Current Affairs of 25 June 2020
India Retains Its Position as 3rd-Largest Economy on PPP Basis For 2017
- India has retained and consolidated its position as the third-largest economy after China and the US in terms of purchasing power parity (PPP) for 2017, said the government on Tuesday quoting the World Bank data.
- PPP of the rupee per dollar at the gross domestic product (GDP) level rose to 20.65 in 2017 from 15.55 in 2011, while the exchange rate of a dollar to a rupee rose to 65.12 from 46.67 during the period.
- Also, the Price Level Index (PLI), the ratio of a PPP to its corresponding market exchange rate, which is used to compare the price levels of economies……Click Here to Read More
Ministry of MSME Launched Funding Scheme “Distressed Assets Fund–Sub-ordinate Debt For MSMEs”
- Union Minister Nitin Gadkari on Wednesday launched the Credit Guarantee Scheme for Sub-ordinate Debt to provide Rs 20,000 crore of guarantee cover to 200,000 micro, small and medium enterprises.
- The funding scheme to help the distressed MSME sector entails a sub-debt facility to the promoters of those operational MSMEs that are distressed or non-performing assets (NPAs). It is also called the ‘Distressed Assets Fund Sub-ordinate Debt for MSMEs’.
- According to the scheme, the guarantee cover worth Rs 20,000 crore will be provided to the promoters who can take debt from the banks to further invest in their……Click Here to Read More
HRD Minister Virtually Launches YUKTI 2.0 For Higher Education Institutes
- Union Minister of Human Resource Development, Ramesh Pokhriyal ‘Nishank’, on Tuesday launched an initiative ‘YUKTI 2.0’ to help systematically assimilate technologies having commercial potential and information related to incubated startups in our higher education institutions.
- Minister of State for HRD, Sanjay Shamrao Dhotre, Additional Secretary (Higher Education), Rakesh Ranjan, Chairman, AICTE Prof. Anil Sahasrabudhe, Member Secretary, AICTE, Dr. Rajiv Kumar and Chief Innovation Officer, MHRD’s Innovation Cell Dr. Abhay Jere were also present during the occasion through online……Click Here to Read More
COVID-19 Might Push 120 mn Children Into Poverty in South Asia, Including India- UNICEF
- An estimated 120 million children living in South Asian countries, including India, could slip into poverty within the next six months due to the Covid-19 crisis, taking the total number of such kids in the region to 360 million, according to a new UNICEF report.
- The report — Lives Upended – How Covid-19 threatens the futures of 600 million South Asian Children — covers eight South Asian countries namely Afghanistan, Pakistan, India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka. It says that an estimated 240 million children already live in “multi-dimensional” poverty — including factors such as poor health, lack of education, poor sanitation and poor quality of work in these countries.
- An additional 120 million children could be pushed into poverty due to……Click Here to Read More
India Pledges USD 10 million to UNRWA Over Next Two Years
- India on Tuesday announced that it will contribute USD 10 million to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) over the coming two years and asserted that capacity enhancement through training and building durable institutions is a major plank of its developmental assistance to Palestine.
- Addressing an extraordinary virtual ministerial pledging conference for UNRWA, Minister of State for External Affairs V Muraleedharan said that as a steadfast supporter of the Palestinian cause, India deeply appreciates the generous support and untiring work of host countries, donors and UNRWA to ensure millions of “our Palestinian brothers and sisters displaced from their homeland lead a life of dignity”.
- “The COVID-19 pandemic continues to wreck havoc across the globe……Click Here to Read More
India Becomes 12th Largest Holder of US Govt Securities
- India became the 12th largest holder of US government securities at the end of April, with holding worth $157.4 billion, according to official data.
- After significantly reducing the exposure in March to $156.5 billion, Indian marginally hiked the holding by $0.9 billion to $157.4 billion the next month, the data from the US Treasury Department showed.
- So far this year, there has been no specific trend in terms of such securities bought and sold by India amid global economic uncertainties due to coronavirus pandemic.……Click Here to Read More
Banking & Finance News
World’s First Gold-backed Digital Gold Currency Launched in India
- IBMC Financial Professionals Group, an internationally recognized financial services institution and business consultants, has joined hands with US Gold Currency Inc and Blockfills to bring the world’s first monetary gold-backed digital gold currency to India. The currency is also being simultaneously introduced in the Gulf Cooperation Council (GCC), Middle East and Africa.
- For this, IBMC, which has presence in India, has partnered exclusively with US Gold Currency Inc, the issuer of the US Gold digital currency, and Blockfills, the transaction platform provider.
- Each US Gold digital currency is backed by US American Eagle one ounce……Click Here to Read More
India’s GDP to Contract by 5.3% in FY21, Bounce Back in FY22 – Ind-Ra
- India’s economy is likely to shrink by 5.3 per cent this fiscal, the lowest GDP growth in the Indian history and the sixth instance of economic contraction, India Ratings and Research said on Wednesday.
- “The disorder caused by the COVID-19 pandemic unfolded with such a speed and scale that the disruption in production, breakdown of supply chains/trade channels and total wash out of activities in aviation (some activities have started now), tourism, hotels and hospitality sectors will not allow the economic activity to return to normalcy throughout FY21,” the rating agency said in a report.
- As a result, besides contracting for the whole year, GDP will contract……Click Here to Read More
Acquisitions & Mergers
Adani Power to Acquire US-based AES’ 49% Stake in Odisha Power for Rs 1,019cr
- Adani Power will acquire US-based The AES Corporation’s 49 per cent equity stake in Odisha Power Generation Corporation for USD 135 million (around Rs 1,019 crore), the Adani group firm said on Tuesday.
- “Adani Power Ltd (APL) has signed a definitive agreement to acquire the 49 per cent stake in Odisha Power Generation Corporation (OPGC) from the affiliates of The AES Corporation (AES), the US-based global energy company,” a regulatory filing said.
- Adani Power will acquire a total of 89,30,237 equity shares held in OPGC representing 49 per cent of the total issued, paid-up and subscribed equity share capital……Click Here to Read More
Gulabbai Sangamnerkar & Madhuvanti Dandekar to Get Lifetime Achievement Award
- The Maharashtra government on Wednesday announced the Vithabai Narayangaokar lifetime achievement award to folk artist Gulabbai Sangamnerkar.
- The Annasaheb Kirloskar award will be conferred upon veteran theatre actress-singer Madhuvanti Dandekar.
- The awards were announced by culture minister Amit Deshmukh.
- “The Vithabai Narayangaokar lifetime achievement award is given to……Click Here to Read More
World Karate Federation Provisionally De-Recognises KAI
- The World Karate Federation (WKF) has provisionally de-recognised the Karate Association of India with immediate effect for infighting and violating the world body’s statutes during its elections last year.
- WKF said the decision was taken after an inquiry.”…further to the investigations and inquiry led by the commissioned members to review the status of the Karate Association of India (KAI), the WKF Executive Committee has decided to provisionally withdraw the recognition of KAI, of which you are the President, as of 22nd June with immediate effect in accordance with the WKF Statutes,” WKF chief Antonio Espinos wrote in a letter to KAI president Hariprasad Pattanayak.
- WKF made it clear that it was unhappy with the infighting within the KAI……Click Here to Read More
Former Karnataka Basketball Player K Raghunath Passes Away
- Former Karnataka basketball star K Raghunath passed away on Tuesday morning due to age-related complications. He was 74, and is survived by his wife and two daughters.
- Fondly referred to as ‘Pappachi’, Raghunath was one of the founding members of the still-popular Beagles Basketball Club.
- Raghunath’s tryst with basketball began in 1958, and before long he was winning accolades for the Malleswaram High School and subsequently National College and Government Science College (B.Sc).
- The point guard was part of the Bangalore University team for five years, including a couple as captain, and won three championships with the side.
- “He was one of the most technically sound basketball players I have ever seen,” says Rajgopal Kadambi, former India international. “He was so quick on his feet. He was one of those players who was ahead of his time.”
- Despite years of relentless service to the state side, Raghunath, who worked for Asian Paints for over 25 years, continued to contribute regularly to the success of Beagles.
- The Executive Committee Members of the Karnataka State Basketball Association offered their condolences.
‘Batman’ director Joel Schumacher passes away at 80
- Costume designer-turned director Joel Schumacher, known for helming films including ‘St Elmo’s Fire’, ‘Falling Down’ as well as two ‘Batman’ movies, has passed away after a year-long battle with cancer, his publicists said. The native New Yorker passed away on Monday morning. He was 80.
- Schumacher started off as a costume designer for 1970s films such as Woody Allen directorials ‘Sleeper’ and ‘Interiors’, along with ‘Blume in Love’, ‘The Prisoner of Second Avenue’ and ‘The Last of Sheila’.
- He also was a production designer on the 1974 telefilm ‘Killer Bees’.
- Schumacher then turned writer in the late ’70s on ‘Sparkle’, ‘Car Wash’ and film adaptation of Broadway musical ‘The Wiz’, and made his directorial debut in 1981 with sci-fi comedy ‘The Incredible Shrinking Woman’, featuring Lily Tomlin in the lead.
- The director, considered as one of the most popular Hollywood storytellers, also has titles such as ‘Flawless’, ‘DC Cab’, ‘The Lost Boys’, ‘Falling Down’ and John Grisham adaptations ‘The Client’ and ‘A Time to Kill’ to his credit.
- Schumacher also directed high-profile music videos including Seal’s chartbuster ‘Kiss from a Rose’ from his ‘Batman Forever’, INXS’ ‘Devil Inside’ and the Smashing Pumpkins’ ‘The End Is the Beginning Is the End,’ which earned him a best director nomination at the 1997 MTV Video Music Awards.
- ‘8MM’, the 1999 film starring Cage, Joaquin Phoenix and James Gandolfini, was up for the Golden Bear at Berlin Film Festival.
Current Affairs Today
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