Daily GK Update: 24th June 2020

Isro receives patent for protective garment for human spaceflight

  • In yet another step towards sending the first Indian into space, the Indian Space Research Organisation (Isro) has received a patent for its Liquid Cooling and Heating Garment (LCHG) made of biocompatible fabrics and components to provide a comfortable temperature and removal of sweat for astronauts, for use in space for protection from hot and cold environments.
  • LCHGs are used in space, military applications, fire fighting and also for personal cooling and heating purposes for protection from hot and cold environments of industrial areas or in extreme temperature and humidity conditions that may exist in work environments. These garments have a system for circulating temperature controlling fluid into and out of the garments, for instance, through tubes inside the garment.

Source: Business Standard

Nobel-laureate Indian economist Amartya Sen wins 2020 Peace Prize of the German Book Trade

  • Nobel-laureate Indian economist Amartya Sen has won the prestigious Peace Prize of the German Book Trade for his decades-long work on “questions of global justice”.
  • Börsenverein, the German Publishers and Booksellers Association, chose the 86-year-old economist and philosopher as the recipient of the body’s 2020 Peace Prize for his pioneering work addressing issues of global justice, social inequality in education and healthcare.
  • “The German Publishers and Booksellers Association hereby awards the 2020 Peace Prize of the German Book Trade to the economist and philosopher Amartya Sen. Among Sen’s most important contributions is the idea of evaluating a society’s wealth not solely based on economic growth indices, but also on the opportunities for development available to all individuals who comprise that society, in particular its weakest members. His vivid and powerful descriptions have also served to elucidate the fundamental ways in which poverty, hunger and illness are intimately linked to the absence of free and democratic structures,” said the statement from Börsenverein, German Publishers and Booksellers Association.

Source: Times Now News

Union HRD Minister virtually launches ‘YUKTI 2.0’ platform for Higher Education Institutes in New Delhi

  • The Minister had launched the YUKTI (Young India combating COVID with Knowledge, Technology and Innovation) web portal on 11 April, 2020. Ministry of HRD prepared the portal in view of Coronavirus. The portal intends to cover the different dimensions of COVID-19 challenges in a very holistic and comprehensive way. Through this portal, the Ministry of Human Resource Development will endeavor to ensure that students, teachers and researchers in higher educational institutions are getting appropriate support to meet the requirements needed to advance their technologies and innovations.
  • While addressing the participants Shri Pokhriyal said that YUKTI 2.0 is logical extension of earlier version of ‘YUKTI’, an initiative of MHRD, to identify ideas relevant in COVID pandemic. He also informed that all the outcomes of earlier version of ‘YUKTI’ will be released soon.
  • The minister appreciated the initiative and said that our Prime Minister has given us the mission of making Bharat ‘Atmanirbhar’ and, YUKTI 2.0 initiative is a very important step in that direction. He said that our youngsters are very capable of thinking innovatively and we should make every possible effort to help them convert their ideas into enterprises. More importantly, initiative like YUKTI 2.0 will also help in fostering the culture of innovation and entrepreneurship in our academic institutions”.

Source: Ministry of Human Resource Development

IFTAS Announces the Appointment of Shri. T. Rabi Sankar as Chairman and Dr. N Rajendran as Chief Executive Officer

  • IFTAS, a wholly-owned subsidiary of Reserve Bank of India announces the appointments of Shri. T Rabi Sankar as the Chairman and Dr. N Rajendran as the CEO of the organization effective May 15, 2020 and May 27, 2020 respectively.
  • Shri. T Rabi Sankar, currently serving as Executive Director, Reserve Bank of India for Payment systems, Information Technology, Risk Management and Fintech has taken over concurrent charge, ex officio, as the Chairman of IFTAS. Shri Sankar, who has an M.Phil. (Economics) degree, has long experience across a wide spectrum of central banking functions, particularly, exchange rate management, reserves portfolio management, public debt management, monetary operations, development, regulation and surveillance of financial markets and of payment systems and managing the Bank’s IT infrastructure.

Source: CISION PR Newswire

Rajasthan government to launch Indira Rasoi Yojana to provide meals at concessional rate

  • Rajasthan Chief Minister Ashok Gehlot on Monday announced that meals (twice a day) will soon be made available to the poor at a concessional rate under the state government’s ‘Indira Rasoi Yojana’.
  • “There is a dearth of nutritious food and it is with the idea that nobody goes to sleep hungry that I am announcing this today. Indira Gandhi was a great leader and the reason behind the creation of Bangladesh, she brought in the Green Revolution, conducted the nuclear tests in Phokran during 1974. In the memory of the great leader, we have decided that Indira Rasoi Yojana will be started soon under which nobody will sleep hungry,” Gehlot said on Monday.

Source: Indian Express

UCO Bank partners with four insurers to sell their products

  • State-run UCO Bank on Sunday tied up with four insurers to offer various insurance products to its customers through its network of branches across the country.
    The lender teamed up with SBI Life Insurance Company, the Oriental Insurance Company and Religare Health Insurance Company, Star Health and Allied Insurance Company for selling their products.
  • With these new partnerships, the lender will now be offering a much wider range of insurance products, UCO Bank MD and CEO Atul Kumar Goel said.
  • The fresh tie-ups have strengthened the bank”s partnerships with insurers from existing two to six, an official said.
  • “These will enable us to reaffirm our commitment to our customers for their financial well being. We would digitise and automate the customer interface for availing these facilities,” UCO Bank executive director Ajay Vyas said. PTI BSM BDC BDC

Source: Outlook India

Amish announces his new book, Legend of Suheldev: The King Who Saved India

  • There has been a flurry of book announcements of late, and the latest one is by Amish. The author of The Immortals of Meluha has announced the launch of his new book, Legend of Suheldev: The King Who Saved India. Published by Westland Publications Pvt Ltd, his latest fiction is set in 11th-century, India. The book begins with Mahmud of Ghazni’s invasion and the massacre of the holy Somnath Temple. It then proceeds to document the adventure of the warrior-king Suheldev and the way he brings together people from various faiths.
  • “The idea behind writing Legend of Suheldev: The King Who Saved India, was to bring to national consciousness an inspiring story that has been ignored in the pages of Indian history. A story that has particular relevance today. Legend of Suheldev is the story of a king who united men and women of the nation, irrespective of their religion, caste, region, or status in society. An epic adventure, and an inspiring tale of unity, the message of King Suheldev echoes across the chasm of time: when we Indians are united, we are unbeatable,” the author said

Source: Indian Express

Pournima Zanane dies at 42 after long cancer battle, shooting fraternity mourns

  • Cancer-stricken former India shooter Pournima Zanane has died aged 42, prompting the country’s shooting fraternity, including Olympic champion Abhinav Bindra, to mourn the untimely death.
  • An International Shooting Sport Federation-licenced coach, Zanane had been suffering from cancer for the past two years and also underwent extensive treatment for the same.
  • According to ex-India rifleman Joydeep Karmakar, she almost recovered after receiving treatment.
    She had represented India at multiple ISSF World Cups, Asian Championships, Commonwealth Championships, among others.
  • Zanane, who was a national record holder in 10m air rifle event, took to coaching and was honoured with the Shiv Chhatrapati Sports award by the Maharashtra government.

Source: Indian Express

India retains position of 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, improved to 47.55 in 2017 from 42.99 in 2011.

Source: Business Standard

Moody’s projects India GDP to shrink 3.1% in 2020, flags geopolitical risk

  • Moody’s Investors Service on Monday projected the Indian economy to shrink 3.1 per cent in 2020 and said clashes with China on the border also suggest rising geopolitical risks in the Asian region where countries are particularly vulnerable to changes in geopolitical dynamics.
  • While it pegged India’s annual growth at 0.2 per cent in April, the forecast has been sharply revised after taking into consideration the disruptions due to the coronavirus pandemic.
  • However, Moody’s expects the economy to register 6.9 per cent growth in 2021.In its June update to Global Macro Outlook (2020-21), Moody’s said it has revised down its 2020 growth forecast for India as incoming data show the extent of coronavirus-related disruption in January-March and April-June quarters.

Source: Business Standard

State basketball star Ragunath 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.

Source: Deccan Herald

Karnataka Bank launches KBL Micro Mitra, an exclusive product for Micro entrepreneurs

  • The Karnataka Bank has launched a new product viz. KBL Micro Mitra, wherein financial assistance up to Rs.10 lakhs can be provided to the Micro manufacturing and service enterprises either for working capital or for investment purposes.
  • The facility comes with a simplified procedure and competitive rate of interest. While launching the product Shri Mahabaleshwara M. S., MD & CEO of the Bank said that “Micro and Small entrepreneurs play a vital role in the revival of the economy both in rural and urban India, besides creating huge job opportunities locally. As the economy is now in revival mode, timely credit assistance is crucial and I am sure ‘KBL Micro Mitra’ will be a true friend of the micro entrepreneurs. This facility is available across India through all the branches of Karnataka Bank. Bank will also come out with the digital version of the product shortly.”

Source: Karnataka Bank

Veteran journalist, former MP Vishwa Mohan Gupta passes away

  • Former MP and veteran journalist Vishwa Bandhu Gupta died here on Sunday night, sources close to his family said.
  • He was 93.
  • Gupta was associated with the Congress party during the 1980s and he was a Member of Parliament from April 1984 to 1990, representing the state of Delhi in the Rajya Sabha.
  • Gupta was Chairman and Editor-in-chief of the Tej-Bandhu group of publications.
  • He was one of the founding members of the Press Club of India and the President of the All India Newspaper Editors Conference.

Source: Outlook India