Daily GK Update: 25th July 2020

“Largest solar power plant of Indian Navy commissioned in Kerala”

  • The Indian Navy’s largest solar power plant has been commissioned at Ezhimala, located near Payyanur, in Kannur district of Kerala.
  • Vice Admiral Anil Kumar Chawla in the presence of various other Indian Navy officials, commissioned the 3 MW solar power plant at Indian Naval Academy yesterday via virtual conferencing.
  • This is in line with the Govt of India initiative of ‘National Solar Mission’ to achieve 100GW of solar power by 2022.
  • Informing about the development the Ministry of Defense said, “The solar plant is the largest in the Indian Navy and has an estimated life of 25 years.

Source: Construction Week

“Cipla Set To Launch Favipiravir Drug For Treatment Of COVID Patients”

  • Pharmaceutical firm Cipla is all set to launch Favipiravir, developed by the Council of Scientific and Industrial Research (CSIR) in a cost-effective process, for the treatment of COVID-19 patients, according to an official statement on Thursday.
  • An off-patent anti-viral drug, Favipiravir, originally discovered by Fuji Pharma in Japan, has shown promise in clinical trials for treatment of COVID-19 patients, especially in mild and moderate cases.
  • CSIR-Indian Institute of Chemical Technology (CSIR-IICT) developed a cost effective process using locally available chemicals to synthesise this Active Pharmaceutical Ingredient (API) and transferred the technology to Cipla.
  • Cipla has scaled up the process in their manufacturing facility and approached DCGI (Drug Controller General of India) for permission to launch the product in India.

Source: NDTV

“India, Israel jointly develop ultra rapid testing kit for COVID-19; results within 30 sec”

  • India and Israel have jointly developed an ultra rapid testing kit for COVID-19.
  • The testing kit which has proven it’s efficacy in lab results will now be subjected to broader trials.
  • Principal Scientific Adviser to Government of India, Professor K VijayRaghavan informed that Indian DRDO scientists along with Defence Research Wing of Israel have been conjointly working on the COVID testing kit.
  • Speaking exclusively to AIR News, Professor VijayRaghavan said the rapid testing kit can generate preliminary COVID results within 30 seconds.

Source: News On Air

“Prakash Javadekar virtually launches piloting of National Transit Pass System”

  • Environment Minister Prakash Javadekar today virtually launched piloting of the National Transit Pass System at Indira Paryavaran Bhawan in Delhi.
  • Speaking on the occasion, Mr Javadekar said the National Pass System enhances seamless movement of forest produce.
  • The Minister said Prime Minister Narendra Modi has laid a lot of stress on the Ease of Movement.
  • He said now, people can apply for Passes from their mobile phones as well as receive e passes in their mobile phones.

Source: News On Air

“IIT Delhi And TRIFED Tie Up For Unnat Bharat Abhiyan”

  • The Indian Institute of Technology Delhi, or IIT Delhi, has signed an agreement with TRIFED for Unnat Bharat Abhiyan.
  • The agreement seeks to introduce tribal forest dwellers engaged in minor forest produces to newer processing technologies, product innovation, mentorship and transformational digital systems.
  • The agreement opens gates for the “best of brains in the country to attend to the problems of sustainable tribal livelihoods”.
  • Compare top colleges in India based on Facilities, Fee, Infrastructure, Placements, Student Reviews.

Source: NDTV

“ASTHROS Mission: NASA to use football stadium-sized balloon to study Cosmos”

  • NASA has started work on a new mission to send a telescope, on a football stadium-sized balloon, high into the stratosphere to observe wavelengths of light invisible from the Earth.
  • The mission will try to find answers about formation of giant stars in the galaxy.
  • The telescope mission called Astrophysics Stratospheric Telescope for High Spectral Resolution Observations at Submillimeter-wavelengths (ASTHROS) is likely to be launched in December 2023 from Antarctica.
  • It will spend about three weeks drifting on air currents above the icy southern continent, said the American space agency on Wednesday.

Source: Business Standard

“RBI releases the Financial Stability Report, July 2020”

  • The Reserve Bank of India (RBI) released its Financial Stability Report on Friday where the central bank warned that the gross nonperforming assets (GNPA) ratio of all scheduled commercial banks (SCBs) may increase from 8.5 per cent in March 2020 to 12.5 per cent by March 2021.
  • The RBI in its semiannual report further said that if the macroeconomic environment worsens further, the GNPA ratio may escalate to 14.7 per cent under very severe stress.
  • He further said that in the evolving environment, while risk management has to be prudent, extreme risk aversion would have adverse outcomes for all.
  • Das’s comments come at a time when the credit growth has declined as the coronavirus (COVID-19) pandemic and the subsequent lockdowns have severely hit the businesses and left lakhs of people jobless.

Source: The Indian Express

“PhonePe, ICICI Lombard team up to offer Hospital Cash cover”

  • Digital payments platform PhonePe on Thursday announced the launch of its Hospital Daily Cash benefit under Group Safeguard Insurance in partnership with private insurer ICICI Lombard.
  • It is a customised hospitalisation policy that allows PhonePe users to get an assured amount if they are hospitalised due to injury or illnesses including Covid-19.
  • As part of this policy, a Discharge Certificate would be sufficient in most cases for processing claims without hospital bills.
  • The cover can be availed of in less than two minutes, the company said.

Source: The Hindu Business Line

“Indian Overseas Bank Appoints SBI’s Partha Pratim Sengupta As CEO”

  • Indian Overseas Bank on Thursday appointed Partha Pratim Sengupta, deputy managing director and chief credit officer at State Bank of India, as managing director and chief executive officer (CEO).
  • Mr Sengupta replaces Karnam Sekar, who retired on June 30.
  • Mr Sengupta is a career banker with more than three decades of experience in SBI, Indian Overseas Bank said in a regulatory filing.
  • The appointment of Mr Sengupta will be till the date of attaining superannuation, which is December 31, 2022, or until further orders, whichever is earlier.

Source: NDTV

“FCC, NPCI to host world’s largest virtual fintech event”

  • To bring together global fintech and BFSI ecosystems, the Fintech Convergence Council (FCC) the flagship committee of Internet & Mobile Association of India (IAMAI) along with National Payments Corporation of India (NPCI), will host the Global Fintech Fest (GFF), a first-of-its-kind international virtual fintech event.
  • GFF is presented by the Department of Economic Affairs (DEA), Ministry of Finance, Government of India and the Reserve Bank of India (RBI).
  • The two day event themed ‘Fintech: With and Beyond COVID’ is scheduled for 22-23 July 2020.
  • GFF is also supported by the World Bank and the United Nations Capital Development Fund (UNCDF).

Source: PR News