Daily Current Affairs (Jul 16 2020) like many other sections is inevitable and this also helps to score in the      Banking awareness, Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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National News:

Shripad Naik inaugurates Conference on Aerospace and Defence Manufacturing Technologies:

  • Minister of State for Defence Shripad Naik delivered the inaugural address at the Fifth Edition of the Conference on Aerospace & Defence Manufacturing Technologies in New Delhi. Theme of the conference was Empowering India with Atma-Nirbhar Bharat Mission.
  • Government aims to achieve $ 26 bilion domestic defence production by 2025.


Poba Reserve Forest in Dhemaji to be Upgraded to Wildlife Sanctuary:

  • Assam Chief Minister Sarbananda Sonowal announced that the Poba Reserve Forest in Dhemaji district in Assam would be upgraded to a wildlife sanctuary.
  • Poba Reserve Forest, declared in 1924 with an area of 10,522 hectares, is home to large number of flora and fauna.


  • Capital: Dispur
  • Chief Minister: SarbanandaSonowal    
  • Governor: Jagdish Mukhi


Indian Railways’ 1st cable-stayed rail bridge, to connect Katra and Reasi in J&K:

  • Minister of Railways, Piyush Goyal, has announced that the India’s first cable-stayed Indian Railways bridge namely “Anji Khad Bridge” being developed by Konkan Railway Corporation Limited (KRCL), a Government of India undertaking, is all set to connect Katra and Reasi in Jammu and Kashmir.
  • The cable-stayed railway bridge is a part of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project, which passes through the Young Himalayas.

Jammu and Kashmir:

  • Capital:Srinagar (summer), Jammu (winter)
  • Governor:Girish Chandra Murmu


Skill Development & Entrepreneurship Minister e-inaugurates NSTI, Extension Centre in Imphal:

  • Minister of Skill Development Dr Mahendra Nath Pandey e-inaugurated a National Skill Training Institute Extension Centre located at the campus of Government ITI in Imphal on the occasion of the World Youth Skills Day & 5th anniversary of ‘Skill India’


  • Capital:Imphal
  • Chief Minister:N. Biren Singh
  • Governor:Najma Heptulla


Odisha partners with Coursera to upskill 50,000 unemployed youth:

  • Odisha Skills Development Authority has partnered with online learning platform Coursera to train 50,000 unemployed youth during the Covid-19 crisis.
  • Launched on the World Youth Skills Day, the partnership is part of the global rollout of Coursera’s Workforce Recovery Initiative, where any state and country can provide.


  • Capital: Bhubaneswar
  • Chief Minister:Naveen Patnaik
  • Governor:Ganeshi Lal


Indian Railways on mission mode of becoming ‘Green Railway’ by 2030:

  • Ministry of Railways is on a mission mode with the goal of transforming Indian Railways into Green Railways by 2030 and has taken a number of major initiatives towards mitigation of global warming and combating climate change.

Banking and Economy:

CBDT launches tool for banks to ascertain TDS applicability rates on cash withdrawals:

  • Income Tax Department has facilitated a new functionality for banks and post offices for them to calculate the TDS applicability rates on cash withdrawal of above ₹20 lakh in case of a non-filer of the income-tax return and that of above ₹1 Crore in case of a filer of the income-tax return.
  • Income Tax Department namely “Verification of applicability u/s 194N” which is available on www.incometaxindiaefiling.gov.in since July 1, 2020 has now made accessible for banks, co-operative societies, and post offices through web-services by Central Board of Direct Taxes (CBDT).

Central Board of Direct Taxes (CBDT):

  • Chairman: Pramod Chandra Mody
  • Headquarters: New Delhi.


 PSBs to purchase NBFC Bonds/CPs worth Rs 14,667 cr under extended PCGS:

  • According to Finance Minister under the Partial Credit Guarantee Scheme (PCGS) public sector banks have approved the purchase of bonds and commercial papers issued by 67 NBFCs amounting to ₹14,667 crore. PCGS was revamped under Atma-Nirbhar Bharat package.


HSBC to set up IFSC Banking Unit at GIFT City:

  • Global banking major Hongkong and Shanghai Banking Corporation Limited (HSBC) has received an in-principle approval from the GIFT SEZ Authority to set up an IFSC Banking Unit (IBU) at GIFT- International Financial Services Centre (IFSC).


  • Headquarters: London, United Kingdom
  • CEO: Noel Quinn.


Indian-origin Chandrikapersad Santokhi elected as president of Suriname:

  • Indian-origin politician Chandrikapersad Santokhi has been elected President of Suriname by the Latin American country’s national assembly.
  • A former Justice Minister, Santokhi of the Progressive Reform Party (PRP) was elected unopposed, the Caribbean Media Corporation (CMC) reported. He will succeed Desi Bouterse.


  • Capital: Paramaribo
  • Currency: Suriname Dollar
  • President: Chandrikapersad Santokhi


Asian Development Bank appoints Election Commissioner Ashok Lavasa as new vice-president:

  • Election Commissioner Ashok Lavasa, who is known for his dissenting views in the poll panel, is all set to join Asian Development Bank at Manila in Philippines, as the multilateral financial agency has appointed him its vice-president to look after private sector operations and Public-Private Partnerships (PPPs).
  • He will succeed Diwakar Gupta, whose term will end on 31 August, 2020.

Asian Development Bank:

  • Founded- 19 December 1966
  • Headquarters- Mandaluyong, Philippines.
  • President- Masatsugu Asakawa.
  • Membership– 68 countries


Former Australian cricketer Brett Lee named brand ambassador of SportsAdda:

  • SportsAdda has onboarded Australian cricket legend Brett Lee as it’s brand ambassador as he swaps the cricket field for the digital playground. He took over 700 wickets during his international career and retired from international cricket in 2013.

Acquisitions & Mergers

AAI and BEL signs MoU for co-operation in civil aviation sector:

  • Airports Authority of India (AAI) and Defence Pubic Sector Unit (PSU) Bharat Electronics Ltd (BEL) has signed an Memorandum of Understanding (MoU). The MoU aims to tap the emerging global markets in the airport business, including the ones in the Asia-Pacific region.
  • The partnership between the two companies will support each other in addressing the emerging global opportunities in the airport business.


Google to invest Rs 33,737 crore for 7.73% stake in Jio Platforms:

  • Reliance Industries said global technology giant Google would invest Rs 33,737 crore for a 73 per cent stake in Jio Platforms, the subsidiary which houses its telecom and digital operations.
  • This investment values Jio Platforms at an equity value of Rs 4.36 lakh crore With this deal, RIL holds 03% stake in Jio Platforms, while other investors hold 32.97% stake.


NSRCEL partners with Capgemini in India to support social startups:

  • NSRCEL, the startup hub at IIM Bangalore, has partnered with Capgemini in India to support social impact startups in the country’s growing startup ecosystem.
  • The selected ventures will receive from Capgemini an entrepreneurial grant of Rs 75 lakh each across three years based on their progress and milestone.

Awards and Recognitions:

Tata’s Chandrasekaran, Lockheed Martin’s Taiclet to receive USIBC Global Leadership Award:

  • Tata group Chairman N Chandrasekaran and Lockheed Martin CEO Jim Taiclet will receive the USIBC Global Leadership Award this year.
  • The earlier receivers of this award include Google CEO Sundar Pichai, Google CEO Adena Friedman, Amazon CEO Jeff Bezos, and Sun Pharmaceuticals Founder and Managing Director Dilip Shanghvi.


Hyderabad International Airport Gets India’s 1st and Only Completely Contactless Car Parking:

  • GMR Hyderabad International Airport Limited (GHIAL) that operates the city airport is offering Fully Contact-Less Airport Car Parking service.
  • “Apart from offering an end-to-end contact-less boarding experience for safe travel, GHIAL has also scaled up its NETC (National Electronic Toll Collection) FASTag Car Parking in collaboration with NPCI (National Payments Corporation of India).


Gurbux Singh, Palash Nandi to be honoured with Mohun Bagan Ratna:

  • Hockey legend Gurbux Singh and former first-class cricketer Palash Nandi will receive this year’s Mohun Bagan Ratna. The club has decided not to hold the customary ‘Mohun Bagan Day’ function on July 29.

Obituary News:

Former Goa health minister Suresh Amonkar passed away at 68:

  • Former Goa health minister Suresh Amonka passed away at 68 due to COVID-19 infection, while undergoing treatment at ESI hospital in Margao. He was born on May 15, 1952 in Amona, Goa.


Maharashtra’s first woman Election Commissioner Neela Satyanarayan passes away at 72:

  • Former IAS officer and Maharashtra’s first woman Election Commissioner Neela Satyanarayan passed away. The 72-year-old breathed her last at Seven Hills Hospital in Mumbai. She was diagnosed with COVID-19. She had penned several books.

Daily Current Affairs Quiz : Jul 16, 2020

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