Daily Current Affairs (May 7, 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 7, 2020  now @ our Bankersdaily Tests.

Important Days

World Athletics Day is celebrated on 7 May:

  • The first World Athletics Day was celebrated in 1996. Primo Nebiolo, the then-president of the International Amateur Athletic Federation (IAAF), started the celebration.
  • It is celebrated every year in May 7th. IAAF decides the date every year.

Vesak day is observed on 7 May:

  • Vesak, the Day of the Full Moon in May 7, is the most sacred day to millions of Buddhists around the world. It was on the Day of Vesak, in the year 623 B.C., that the Buddha was born, attained enlightenment & in his eightieth year passed away.

International No Diet Day 2020- May 6:

  • International No Diet Day (INDD) is an annual event observed on May 6 to promote a healthy lifestyle and raise awareness of the dangers and futility of dieting. The day also aims awareness about the various dieting disorders which exist such as anorexia and bulimia. The INDD symbol is a blue ribbon.

National News

Karnataka announces Rs 1,610 cr package for farmers, construction workers, weavers, auto & taxi drivers:

  • Karnataka state government announced a 1610 crore rupees package for farmers, construction workers, weavers, auto and taxi drivers. He also announced a new Naikar Samaan Yojana that will provide 2000 rupees financial assistance to the weavers.


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

Ministry of Tourism launched DekhoApnaDesh logo design contest:

  • The Ministry of Tourism launched the ‘DekhoApnaDesh’ logo design contest on the MyGov platform.  The objective of this contest is to have a logo for the DekhoApnaDesh campaign coming out of the creative ideas of the citizens of the country. 
  • DekhoApnaDesh is an initiative of the Ministry of Tourism which was launched by Union Minister for Tourism (IC) Prahlad Singh Patel at Konark, Odisha.

International News

Mustafa al-Kadhimi sworn in as prime minister of Iraq:

  • Iraq’s prime minister-designate Mustafa al-Kadhimi was sworn in as the country’s new prime minister after weeks of political negotiations. Al-Kadhimi, 53, has headed the Iraqi Intelligence Service since June 2016.


  • Capital: Baghdad
  • Currency: Iraqi dinar
  • Prime Minister: Adil Abdul-Mahdi
  • President: Barham Salih

UNICEF released ‘Lost at Home’ report:

  • UNICEF estimated 46 million people were internally displaced by conflict and violence as per the UNICEF’s ‘Lost at Home’ report.
  • It presents the scale & scope of the internal displacement of children & their families around the world.

United Nations Children’s Fund (UNICEF):

  • Headquarters: New York, United States.

Banking and Economy

IRDAI sets up panel to draft standard professional indemnity policy for insurance intermediaries:

  • IRDAI has set up a panel to frame standard professional indemnity policy for insurance intermediaries. This offers protection to professionals against potential claims for injury/ loss resulting from their advice action for failure to fulfil their duties.

IRDAI (Insurance Regulatory and Development Authority):

  • Headquarters: Hyderabad, Telangana.
  • Chairman: Subhash Chandra Khuntia

Science and Technology

CSIR-IGIB and TATA Sons sign MoU for licensing ‘KNOWHOW’ for rapid diagnosis of Covid-19:

  • An MoU was signed between CSIR’s (Council of Scientific and Industrial Research) constituent lab, Institute of Genomics and Integrative Biology (CSIR-IGIB) and TATA Sons for licensing of ‘KNOWHOW’ for FNCAS9 Editor Linked Uniform Detection Assay (FELUDA) for rapid diagnosis of Covid19.


Ajinkya Rahane appointed ELSA Corp India brand ambassador:

  • Indian Test team vice-captain Ajinkya Rahane has been named as the brand ambassador of ELSA Corp India, a global Edu-tech company.
  • He was appointed as ELSA Corp’s brand ambassador for India, Middle East, ANZ and SAARC.

IES Officer Negi assumes charge as Director General of Labour Bureau:

  • D P S Negi, a 1985 batch IES (Indian Economic Services) officer has assumed charge as Director General (DG) of Labour Bureau in the Ministry of Labour and Employment by replacing B N Nanda. In addition, he also takes charge as Senior Labour & Employment Advisor of the ministry.

DEA Secretary Tarun Bajaj nominated to RBI Central Board:

  • Government has nominated Tarun Bajaj, Secretary, Department of Economic Affairs, Ministry of Finance, as a Director on the Central Board of Reserve Bank of India. He replaces Atanu Chakraborty to the position in the RBI.

Adhir Ranjan Chowdhury reappointed as chairperson of Parliament’s public Accounts Committee:

  • Adhir Ranjan Chowdhury, Congress Leader of Lok Sabha was reappointed as Chairperson of the Parliament’s Public Accounts Committee(PAC) by Lok Sabha Speaker Om Birla. PAC is the oldest parliamentary committee first constituted in 1921.

C&AG of India:


  • Comptroller and Auditor General: Rajiv Mehrishi.


  • Headquarters: New Delhi.

Acquisitions and Mergers

PNB Housing Finance signs MoU with IIT Delhi:

  • PNB Housing Finance has signed a MoU with Indian Institute of Technology (IIT) Delhi. The initiative will support critical R&D of a unique prototype material to be used in manufacturing sustainable (washable and reusable) PPE (Personal Protective Equipment) surgical gowns and masks.

Wipro signs MoU with Maharashtra govt to change Pune campus in 450-bed COVID-19 hospital:

  • To help Maharashtra citizens tackle Covid-19 cases, IT-giant Wipro has signed a memorandum of understanding (MoU) with the state’s government. Wipro has decided to change its IT campuses in Hinjewadi, Pune, to a 450-bed intermediary care COVID-19 hospital.

Awards and Recognitions

Danseuse Leela Samson to head JCB Prize for Literature 2020 jury:

  • Noted Bharatanatyam dancer, former chairperson of Sangeet Natak Akademi and author Leela Samson will head the five-member jury for the ₹25 lakh JCB Prize for Literature 2020.

Books and Authors

A book titled as Vijyant at Kargil: The Life of a Kargil War Hero  authored by Colonel VN Thapar and Neha Dwivedi:

  • The book titled as ‘Vijyant at Kargil: The Life of a Kargil Hero’ authored by Vijyant’s father Colonel VN Thapar and writer Neha Dwivedi, a martyr’s daughter. Its e-book will be released on May 15. It is published by Penguin Random House.

Obituary News

Former Union Minister Dalit Ezhilmalai passed away at 74:

  • Former Union Minister of State for Health Dalit Ezhilmalai was passed away at 74 in his residence in Chennai, Tamil Nadu due to cardiac arrest he did not have any obvious illness. He was born on 24th July 1945 in Irumbedu village, Chengalpattu, Tamil Nadu.

Sports News

TIU bans Egyptian tennis player Youssef Hossam for life in match-fixing cases:

  • Tennis Integrity Unit (TIU) has banned Egyptian tennis player Youssef Hossam (21) for life after being involved in a number of match-fixing and corruption cases.
  • He had violated the anti-corruption rules related to (Section D.1.b, Section D.1.d, Section D.1.e, Section D.2.a.i and Section F.2.b) 21 times between 2015 and 2019.

Daily Current Affairs Quiz – May 7, 2020

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