DAILY CURRENT AFFAIRS : May 10 & 11, 2020

Daily Current Affairs (May 10 & 11 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.

Also, Don’t forget to attend the Daily Current Affairs Quiz : May 10 & 11, 2020 now @ our Bankersdaily Tests.

Current Affairs Quiz – May 10 & 11, 2020

Important Days

International Mother’s Day 2020: May 10

International Mothers’ Day is celebrated annually in many countries around the world on the Second Sunday of May every year. It is a celebration of the mother of the family of her relentless contribution towards the well-being of her children.

National Technology Day is observed on 11 May:

National Technology Day is observed on 11 May. The day highlights the importance of science in daily life. It also encourages youngsters to get into the field for their career options.
Theme: “Focusing on Rebooting the economy through Science and Technology”.

National News

Bengaluru launches Pranavayu programme to create awareness on need to self-examine respiratory health:

Prana Vayu programme launched by the city Corporation in Bengaluru has been creating awareness through advertisements in media about the need to carry out self-examination for early detection of any ailment that could aggravate the situation if contracted.
It is an attempt to help people with low oxygen level in blood.

Karnataka

Capital: Bengaluru
Chief Minister: S. Yeddyurappa
Governor: VajubhaiVala

MHRD announces modifications in the PMRF Scheme boost research in the country:

HRD Ministry announced amendments in the Prime Minister’s Research Fellowship Scheme including reduction in the required GATE Score & introduction of lateral entry option to attract students. It is also creating a dedicated Research and Innovative Division.
Union HRD Minister: Ramesh Pokhriyal ‘Nishank’.

Jharkhand govt bans Pan Masala for 1 year:

Jharkhand government has banned 11 brands of Pan Masala for one year in the state. The order was passed by the Commissioner of Food Safety in the state, Nitin Kulkarni.
The state had collected 41 samples of Pan Masala belonging to different brands from different districts to test and analyse during the year 2019-20.

Jharkhand

Capital: Ranchi
Chief Minister: Hemant Soren
Governor: Draupadi Murmu

India launches Mission Sagar to assist island nations in Eastern Indian Ocean:

India launched Mission Sagar as part of the government’s outreach initiative towards five Island nations in the Indian Ocean amidst the ongoing COVID-19 pandemic.
Indian Naval Ship Kesari has departed for Maldives, Mauritius, Seychelles, Madagascar and Comoros, to provide Food Items, COVID related Medicines including HCQ Tablets and Special Ayurvedic Medicines with Medical Assistance Teams embarked.

Tamil Nadu forms panel under ex RBI Governor C Rangarajan to improve fiscal position:

Tamil Nadu govt set up the high – level committee has 21 members to examine fiscal challenges facing the state owing to the pandemic and suggest the way forward to improve its fiscal position he committee, which will also consist of Finance Secretary S Krishnan as coordinator.

Tamil Nadu

Capital:Chennai
Chief Minister:Edappadi K. Palaniswami
Governor:Banwarilal Purohit.

International News:

WHO and UN Postal agency release commemorative postage stamp on 40th anniversary of eradication of smallpox:

In May 1980, the 33rd World Health Assembly issued its official declaration that the world is free from smallpox.
It ended after a 10-year global effort that involved thousands of health workers around the world to administer half a billion vaccinations.

World Health Organisation:

Headquarters: Geneva, Switzerland
Head: Tedros Adhanom
Founded: 7 April 1948

Banking and Economy

Cooperative Banks come under SARFAESI Act:

Cooperative Banks established under a State Law or Multi-State Level Societies come within the ambit of the SARFAESI, 2002. The Act prescribes a procedure for faster recovery of dues.
Co-op banks come under the definition of ‘Banking Company’.

Public Sector Banks sanction loans worth Rs 5.66 lakh Cr for more than 4181000 accounts during March-April:

PSBs have sanctioned loans worth 66 lakh crore rupees for more than 41 lakh 81 thousand accounts during March-April this year. These borrowers are from MSME, Retail, Agriculture & Corporate sectors, waiting for disbursal soon after lockdown lifts.

Nomura predicts Indian GDP to contract by 5.2% in FY 21:

Nomura and Goldman Sachs have cut their growth projections for India in the financial year 2020-21 (FY21). Nomura has lowered India’s FY21 GDP growth forecast to -5.2% vs -0.4% Goldman Sachs expects the economy to contract 0.4 per cent in FY21.

Nomura:

Headquarters: Tokyo, Japan

President and Group CEO: Kentaro Okuda

Central Board of Direct Taxes amends Rule 44G of Income Tax Rules 1962:

CBDT amended 44G of Income Tax Rules, 1962 for making an application to invoke the mutual agreement procedure in Form no. 34. These rules will be called Income-tax (8th Amendment) Rules, 2020.
CBDT Chairperson: Pramod Chandra Mody.

Science and Technology

DRDO lab develops automated UV systems to sanitise electronic gadgets, papers & currency notes:

Hyderabad based Defence Research and Development Organisation (DRDO) lab has developed automated Ultraviolet systems, called Defence Research Ultraviolet Sanitiser (DRUVS) to sanitise electronic gadgets, papers and currency notes.
It provides 360-degree exposure of UV to objects placed inside.

IIT-Delhi startup launches reusable antimicrobial mask NSafe:

With increasing demand for face masks to contain transmission of deadly COVID-19 virus, IIT (Indian Institute of Technology)- Delhi startup company named Nanosafe solutions has developed and launched an antimicrobial and washable face mask “NSafe” that can be reused upto 50 launderings

CFTRI develops Spirulina groundnut Chikki to boost immunity during pandemic:
The Mysuru-based Central Food Technological Research Institute, CFTRI developed by Spirulina groundnut Chikki, provides micro-nutrients & boost the immunity of people during the time of a pandemic. It is rich in micro-nutrients.
The Director of CFTRI: Dr K S M S Raghav Rao.

Mahindra Launches Digital Car Buying Platform ‘Own-Online’ To Boost Sales Amid Covid-19 Crisis:
Mahindra & Mahindra (M&M) has launched an integrated online platform that will provide end-to-end sales experience for prospective buyers amid the coronavirus pandemic.
Under the new initiative Own-Online, a customer can finance, insure, exchange, accessories and own a company vehicle, in four simple steps, from the comfort of their homes.

Appointments and Resignations:

Narinder Batra’s Term As FIH President Extended To May 2021:

Narinder Batra will remain President of the International Hockey Federation (FIH) until May 2021.
The Executive Board (EB) of the International Hockey Federation (FIH) has decided to postpone the 47th FIH Congress, initially planned on 28 October-1 November 2020 in New Delhi, to May 2021.
International Hockey Federation:
Headquarters: Lausanne, Switzerland
President: Narinder Batra

Kumar Sangakkara set for 2nd term as MCC President:

Former Sri Lanka skipper Kumar Sangakkara is set to serve his second term as the president of Marylebone Cricket Club (MCC).
He became the first non-British President of the club when he assumed office on October 1 last year. Sangakkara is all set to enter an elite list of people who have served multiple terms.

Wipro CEO and MD Abidali Z Neemuchwala steps down:

Chief Executive Officer (CEO) and Managing Director Abidali Z Neemuchwala of Wipro Limited has decided to step down due to family commitments.
Neemuchwala will continue to hold the office of CEO and Managing Director until a successor is appointed for a smooth transition and to ensure that business continues as usual.

Books and Authors:

Vadhan’s new book “Fear of God” deals with corruption vigilantism law:

The story of “Fear of God” weaves law, corruption, vigilantism and courtroom drama to follow the three central characters who are looking to achieve the same thing but through different means.
It is written by Vadhan, whose real name is Bommadevara Sai Chandravadhan and published by TreeShade Books
This is Vadhan’s third novel after “Agniputr: When Agni First Spoke” and “Shatru”.

Prince Harry-Meghan Markle’s biography ‘Finding Freedom’ to be published in August:

The first biopic on Prince Harry and Meghan Markle’s life, titled ‘Finding Freedom: Harry and Meghan and the Making of A Modern Royal Family’ has been topping the pre-order charts. The book would be published on August 11, 2020.
‘Finding Freedom’ is a biopic, written by royal reporters Omid Scobie and Carolyn Durand. The book promises to dismantle the rumours revolving around Harry, the Duke of Sussex and Meghan, the Duchess of Sussex.

Obituary News:

Eminent historian Hari Shankar Vasudevan passes away:

Eminent historian Hari Shankar Vasudevan passed away due to novel coronavirus. He was 68.
Founder of Kodava Family Hockey Tournament, Pandanda Kuttappa passed away. He was a former State Bank of India employee and an ex-first division hockey referee, Pandanda Kuttappa has bestowed the Karnataka Rajyothsava award in 2015.He was considered one the foremost names in Russian and Central Asian history.

KFH Tournament founder Pandanda Kuttappa passes away:

Founder of Kodava Family Hockey Tournament, Pandanda Kuttappa passed away. He was a former State Bank of India employee and an ex-first division hockey referee, Pandanda Kuttappa has bestowed the Karnataka Rajyothsava award in 2015

Sports News

SAI forms 6-member panel to prepare SOP for phased resumption of training:

Sports Authority of India (SAI) has formed a six-member committee to prepare a Standard Operating Procedure for a phased resumption of training across sporting disciplines at all the centres once the coronavirus-forced national lockdown is lifted.
The six-member panel will be headed by SAI secretary Rohit Bharadwaj and will have CEO Target Olympic Podium Scheme (TOPS) Rajesh Rajagopalan, Executive Director (Operations) SS Roy, SS Sarla, Col BK Nayak and Assistant Director TOPS Sachin K as members.