Weekly Current Affairs, July 1- July 7 2020

Spread the love
Advertisement

Current Affairs is an important section to cover if one wish to appear in any kind of competitive exams like APSC, UPSC, all state civil service exams, Railway exams, SSC, RRBs, IAS, ACS, all Government job exams, TET, CTET and different banking exams like IBPS, SBI PO, SBI Clerk , RBI etc. We have covered the latest Weekly Current Affairs, July 1 – July 7, 2020. Visit our page regularly to get the latest informations and get updated and prepared for your exams

1. The Amendments to Indian Stamp Act, 1899 comes into effect

The amendments made to the Indian Stamp Act, 1899 through the Union Budget 2019, comes into effect from 1st July, 2020.

Key Points :

  • The amendments to Indian Stamp Act, 1899 were made to build a pan-India securities market and to facilitate ease of doing business.
  • The amendment cast an obligation on stock exchanges, depositories and authorised clearing corporations to collect stamp duty on transfer of securities like equity shares, debentures and mutual fund units.
  • Before the amendment coming into effect State governments used to impose stamp duty on financial instruments at different rates. The financial instrfuments collected stamp duty on transactions and deposit it with the state. But now stock exchanges, depositories and authorised clearing corporations will collect stamp duty on any issue, transfer or sale of a security at a uniform rate across all states.
  • State-wise stamp duty rates will be replaced with new rates prescribed under the Finance Act, 2019.

Impact

  • The rationalized and harmonized centralised collection system is expected to ensure minimize cost of collection and enhance revenue productivity.
  • The system will help to develop equity markets and equity culture across the country, ushering balanced regional development.

2. IOCL and Bangladesh’s Beximco LPG Ltd signs agreement

Advertisement

The IOC Middle East FZE-subsidiary of Indian Oil Corporation Limited(IOCL) and Beximco LPG Limited of Bangladesh signed an agreement on 30th June, 2020 to form a Joint Venture Company(JVC) for LPG business in Bangladesh.

Key Points :

  • The signing of agreement was virtually presided over by Union Petroleum and Natural Gas Minister, Dharmendra Pradhan.
  • According to the agreement a 50:50 Joint Venture Company(JVC) would be formed to do LPG business in Bangladesh.
  • The JVC will set up a large LPG terminal in one of the deep water port of Bangladesh after acquiring the existing LPG assets of Beximco LPG Limited. Such terminal will facilitate to receive LPG in very large carriers. This will reduce cost of imports significantly.
  • After completing the necessary arrangements the company will intend to expand into other downstream gas and oil businesses such as LNG, lube blending plant, petrochemicals, connecting North-East India through gas pipeline etc.

Weekly Current Affairs

3. Shashank Manohar steps down as ICC Chairman

On July 1, 2020 Shashank Manohar stepped down as ICC Chairman after four years. Imran Khwaja from Hong Kong is set to be the interim Chairman until a successor is elected. Manohar took charge as Chairman of ICC in Nowember 2015. Sources says that Colin Graves, whose tenure as England and Wales Cricket Board(ECB) chairman will end on August 3 is the potential successor of the seat.

4. Shrikant Madhav Vaidya becomes the new IOC Chairman

Advertisement

On July 1 , 2020, Shrikant Madhav Vaidya took charge as the Chairman of Indian Oil Corporation Ltd(IOC).

Key Points

  • Shrikant Madhav Vaidya succeeded Sanjiv Singh who has superannuated from service on June 30.
  • He will also be the Chairman of Chennai Petroleum Corporation Ltd.
  • Vaidya will also take over as the Head of Ratnagiri Refinery & Petrochemicals Ltd.
  • He will also be the Director on the Board of Petronet LNG.
  • Before elevating to the post he was the Director on the IOC Board.

Weekly Current Affairs

5. Indra Mani Pandey appointed as India’s Ambassador and Permanent Representative to United Nation

The 1990 Indian Foreign Service(IFS) batch officer Indra Mani Pandey appointed as the next Ambassador and Permanent Representative of India to the United Nations and other International Organizations in Geneva, Switzerland.

Key Points

  • Indra Mani Pandey will succeed Rajiv Kumar Chander who was appointed to the post on 30th May, 2017.
  • Pandey is currently serving as the Additional Secretary in the Ministry of External Affairs, Government of India.
  • In his nearly thirty years career, Pandey served in Indian Missions in Cairo, Kabul, Islamabad, Muscat, Damascus and Geneva.
  • He has also served as Joint Secretary in the Disarmament and International Security Affairs division of Ministry of External Affairs.
  • At the UN headquarter in New York India’s Ambassador and Permanent Representative is T.S Tirumurti.

6. ‘2020 Great Immigrants’ Awards to Siddhartha Mukherjee and Raj Chetty

Advertisement

Two renowned Indian-Americans, Siddhartha Mukherjee and Raj Chetty are among the 38 immigrants honoured by a prestigious American foundation Carnegie Corporation of New York as “2020 Great Immigrants“.

About Siddhartha Mukherjee

Pulitzer Prize- winning author and oncologist Sidhartha Mukherjee born in New Delhi has authored several acclaimed books which includes the “The Emperor of All Maladies: A Biography of Cancer”, for which he won the Pulitzer Prize in 2011.

Weekly Current Affairs
Siddhartha Mukherjee
(Source – Wikimedia)

Mukherjee is associate professor of medicine and a practising physician at New York- Presbyterian Hospital. He is also a Padma Shri award recipient of 2014. He is honoured with this award for his exceptional work during the Covid-19 Pandemic to educate the public about the virus through essays, at public forums, in media interviews and social media.

About Raj Chetty

Raj Chetty, born in New Delhi is working as William A. Ackman Professor of Economics at Harvard University. He also directs a research lab called Opportunity Insights that aims to identify barriers to economic and social mobility and develop scalable policy solutions to overcome them. During the Covid outbreak he helped launch a resource to monitor the real-time economic impact of COVID-19 on people, businesses and communities across US.

About the Award

Carnegie Corporation honours the legacy of its founder Andrew Carnegie every July 4 when America celebrates its Independence Day. Andrew Carnegie was a Scottish immigrant who rose from poverty to become a leading industrialist. This Award is to recognize eminent group of immigrants who have made notable contributions to the progress of the American Society.

Weekly Current Affairs

7. New MSME ordinance approved by Assam Cabinet

The Assam Cabinet has approved a new MSME ordinance on July 2 , 2020. The ordinance is awaiting Governors consent. Once it is done it will come into force. Sources says that the ordinance is on lines of MSME ordinances of Gujrat and Rajasthan.

Key Points :

  • The new law will allow MSMEs to start projects without any approval or clearance.
  • The Individuals or Industralists who wants to establish an MSME unit will be required to present a ‘Declaration of Intent’. They can start work after receiving an acknowledgement receipt.
  • The acknowledgement receipt can be regarded as a proof of approval from the State Government and can set up the MSME unit without any approval for a period of three years.
  • The person who wish to establish a new MSME have to give an undertaking to the industry department that he shall abide with all statutory rules and regulations of Pollution Control Board, Factories Act, Labour Act before starting the project.
  • The MSME proprietor will be required to take necessary permission from the concerned authority within six months of completing the three-year term.

8. Drug Discovery Hackathon 2020 launched

Advertisement

A national initiative called Drug Discovery Hackathon 2020 has been launched by Union Minister for Health & Family welfare Dr. Harsh Vardhan on July 2 ,2020.

Objective of Drug Discovery Hackathon

To identify drug candidates that are effective against corovavirus SARS-Cov-2 by employing a hackathon for in-silico drug discovery, followed by chemical synthesis and biological testing.

About DDH2020

DDH2020 is a joint initiative of AICTE, CSIR and supported by the Office of Principal Scientific Advisor, Govt of India, NIC and MyGov. The mission of DDH2020 is to establish ‘Open Innovative Model’ for silico drug discovery against Covid-19.

The hackathon will have two major tracks-

Track 1 will primarily deal with drug design for anti Covid-19 hit/lead molecule generation.

Track-2 will deal with designing/optimizing nerw tools and algorithms which will have immense impact on expediting the process of in silico drug discovery .

The proposed Hackathon will be conducted in 3 phases of 2 months each.

Weekly Current Affairs

9. Fit India Campaign launches ‘Fit Hai to Hit Hai India’

The Union Minister of Human Resource Development , Ramesh Pokhriyal and Union Minister of State I/C for Youth Affairs and Sports, Kiren Rijiju launched the ‘Fit Hai to Hit Hai India’ programme under Fit India Campaign on 3rd July 2020. Olympic Silver Medalist P.V Sindhu and Indian Football team Captain Sunil Chhetri were present at the event.

About Fit Hai to Hit Hai India program

  • Fit Hai to Hit Hai India is a webiner conducted by HRD Ministry.
  • The objective of the webiner is to motivate and inspire the Nation’s school chindren and to help them to understand the need of staying fit in this pandemic situation.
  • In the sessions of the program sports stars will participate to share their experiences through out their life. They will also share some tips to remain fit.
  • The webiner will be conducted six times until 14th July, 2020.

10. The First Plasma Bank of Assam launched

Advertisement

Amidst rising Covid-19 cases in Assam, the first Plasma bank to store Plasma for Covid patients has been launched at GMCH, Guwahati.

The first convalescent donor is Dr Lithikesh , a PG student of GMCH who was infected with the virus in the month of May.

As there is no definite line of treatment for Covid-19, the Health Department is trying to use the Convalescent Plasma Therapy to treat the patients of the state.

About Plasma Therapy

Weekly Current Affairs

A person who have recovered from an infection contains antibodies in their blood that can fight the pathogens such as viruses, that have caused the disease. These antibodies are found in the plasma.

In the process of Plasma Therapy, plasma is separated from the blood of a recovered person and administered to another person who is currently fighting the same infection. This is called Plasma Therapy.

Weekly Current Affairs

11. Government promotes Indian apps through a scheme

The Union Government launched a program for Indian tech entrepreneurs and start-ups to encourage them to develop and promote indigenous world-class apps. The scheme is launched by the Ministry of Electronics and IT in partnership with NITI Aayog.

Monthly Current Affairs

MeitY in partnership with Atal Innovation Mission – NITI Aayog launches Digital India Atmanirbhar Bharat App Innovation Challenge on June, 4 2020.

Key Points

  • The initiative will identify the best Indian Apps that are already being used by citizens and have the potential to become world class apps.
  • The prize money for apps is between Rs 2 lakh and Rs 20 lakh based on the category.
  • The evaluation of the apps will be done on the basis of ease of use, robustness, security features and scalability.
  • Eight categories of app can participate in this challenge – Office Productivity & Work from Home, Social Networking, E-Learning, Entertainment, Entertainment, Health & Wellness, Business including Agritech and Fintech, News and Games.

12. NASA aims to put first woman on the moon

Advertisement

National Aeronautics and Space Administration(NASA) aims to put the first woman on the moon by 2024. However it can be a man also. The mission is under NASA’s Artemis program.

About Artemis Program

The objective of the program is to attempt revival of the American Space Program by putting human presence on the moon.

In the mission scientist will use the surface of the Moon as a field of study and practice living in space before stepping towards Mars. Researches will be done on how the human body reacts to the long duration of spaceflight, creation of habitats and living on surfaces foreign to humans.

The Artemis mission will be accomplished in two parts.

In the first part Artemis I will be launched without any crew. By launching Artemis I functionality of Space Rocket and Orion spacecraft together will be tested.

The second part will be a crewed mission. In the second part Artemis II will be launched with a crew. This is also a test flight before the final launch of Artemis III which will sent the first women or the next man to the Moon.

Weekly Current Affairs

13. Dehing Patkai to be upgraded as National Park

Amidst controversy surrounding the Dehing Patkai Elephant Reserve, the State Government of Assam has decided to upgrade the Dehing Patkai Wildlife Sanctuary into a National Park.

About Dehing Patkai

Advertisement
Weekly Current Affairs

The Dehing Patkai Wildlife Santuary, also known as Amazon of East, is a home to a vast variety of flora and fauna. It is located in the Dibrugarh and Tinsukia districts of Assam. It covers an area of 111.19 sq. km . The Dehing Patkai was declared a sanctuary on 13 June, 2004. It is located in a rain forest that stretches for more than 575 sq kms and extends to the districts of Tinsukia, Dibrugarh and Charaideu. Under Project Elephant the Wildlife Sanctuary and a part of Dehing Patkai Rainforest were declared as Dehing-Patkai Elephant Reserve in 1992.

The Controversy

  • Coal India Ltd was mining in the Dehing Patkai since 2003. It applied for clearance only in 2012 but got rejected.
  • In 2019, CIL applied once again for clearance of an area of 98.59 hectares. It can be noted here that CIL was already mining in an area of 73 hectares.
  • In December 2019, the Central Government gave Stage I forest clearance to the CIL for 57.20 hectares with 28 conditions that includes fines and actions against officers violating the Forest Conservation Act.
  • As the PSU was mining illegally since 2003, the Assam Forest Department slapped a penalty of Rs 43.24 crore on Coal India Ltd.
  • But on 7th April, 2020 the National Board of Wild Life(NBWL) in it’s 57th meeting of the Standing Committee recommended CIL’s proposal to legalize the illegal activities for approval provided it fulfils the 28 conditions.
  • This sparked the controversy and several protests including through social media were undertaken since April, 2020.
  • On June 4 , Gauhati High Court issued notices to the centre , state, CIL and other stakeholders after filing a suo moto case against Coal India Limited.

14. Himachal Pradesh becomes the first state to have 100% LPG Connections

Advertisement

The Chief Minister of Himachal Pradesh, Jai Ram Thakur announced that his state has achieved the goal set by PM Narendra Modi during the launch of Ujjwala Yojna for proving a gas connection to every household in the country. On 6th July 2020, the CM declared that every household in his state now has a gas connection and that Himachal Pradesh is the first state to have attained this.

Key Points

  • Along with the Central scheme Ujjwala Yojana, Himachal Pradesh has another scheme called the Himachal Grihini Subidha Yojana.
  • The Himachal Grihini Subidha Yojana was launched on May, 2018.
  • The objective of the scheme is to provide LPG connection to households that are left out under the Ujjwala Yojana.
  • As many as 2,76, 243 households have been provided free gas connections under Himachal Grihini Subidha Yojana.

Related Post:

Daily Current Affairs

Monthly Current Affairs

Weekly Current Affairs

1.Weekly Current affairs, June 23 – June 30

2. Weekly Current Affairs, June 16 – June 22

3. Weekly Current Affairs, June 8 – June 15

4. Weekly Current Affairs, June 1 – June 7

Advertisement

One Reply to “Weekly Current Affairs, July 1- July 7 2020”

Leave a Reply

Your email address will not be published. Required fields are marked *