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News Digest 4 – 10 July 2020 | Current Affairs

Employment News 4 – 10 July 2020

News Digest

National

  • Prime Minister Narendra Mode made a surpirse visit to Leh on 3 July and was briefed by senior officers at a forward position in Nimu amid ongoing tension with China. The Prime Minister was accompanied by Chief of Defence Staff (CDS) General Bipin Rawat and Army Chief General Manoj Mukund Naravane. He reached Nimu, early morning interacted with Army, Air Force and ITBP personnel to boost their morale. Located at 11000 feet, this is among the tough terrains, surrounded by Zanskar range and on the banks of the indus. During his address, Prime Minister Narendra Mode said that the courage, valour and dedication of Indian army to protect the honor of Mother India is incomparable. He said, through the bravery which has been shown by the soldiers, a message has gone to the entire world about India’s strength. The bravery of 14 Corps will be talked about everywhere and the tales of the bravery and valour exhibited are echoing in every house in the country … enemies of this country have seen the fire and fury of our armed forces. He said, this land in Ladakh in India’s crown and it has given several brave hearts to the nation. The Prime Minister said, those who are weak can never initiate peace as bravery is a prerequisite for peace. He said whether during World Wars or during peace time, whenever the need arises, the world has been the victory of our brave hearts and their efforts towards peace. He said we Indians have worked for the betterment of humanity.
  • Indian Council of Medical Research, ICMR is planning to launch indigenous Covid-19 vaccine for public use by the 15th of August after completion of all clinical trials ICMR has partnered with Bharat Biotech international Limited to develop this path breaking, Covid-19 vaccine, ICMR has asked Bharat Biotech to fast track the clinical trial mechanism and ensure that the subject enrolment is initiated by 7th of July. The vaccine is derived from a SARS-COV2 strain isolated by ICMR-National Institute of Virology, Pune, ICMR and Bharat Biotech are jointly working for the pre-clinical as well as clinical development of this vaccine. Recent, the Central Drug Standard Control Organisation, the National regulatory body for Indian Pharmaceuticals and medical devices, has granted approval to Bharat Biotech India to conduct human clinical trials for Corona Vaccine called ‘Covaxin’.
  • Devence Acquisition Council (DAC) has approved Capital acquisition of various platforms and equipment worth approximately 38900 crore rupees required by the Indian Armed Forces. The meeting chaired by Defence minister Rajnath Singh focused on indigenous design and development. These approvals include acquisitions from Indian Industry amounting to 31130 Crore rupees. The equipments are to be manufactured in India involving Indian Defence Industry with participation of several MSMEs as prime tier vendors. The indigenous content in some of these projects is up to 80 per cent of the project cost. A large number of these projects have been made possible due to transfer of Technology by DRDO to the indigenous industry. These include Pinaka ammunitions, BMP armament upgrades and Software Defined Radios for the Army, Long Range Land Attack Crulse Missile Systems and Astra Missiles for Navy and Air force. The cost of these Design and Development proposals in the range of 20400 crore rupees. Further addressing the long left need to the Indian Air force to increase its fighter squadrons, the DAC also approved the proposal for procurement of 21 MIG-29. It also approved up gradation of existing 59 Mig-29 aircraft and procurement of 12 Su-30 MKI aircraft.
  • Senior diplomat Indra Mani Pandey has been appointed as the next Ambassador and Permanent Representative of India to the United Nations and other international Organizations in Geneva Mr. Pandey, a 1990 batch IFS officer is presently additional secretary in the External Affairs ministry. He is expected to take up the assignment shortly.

Economy

  • Direct investment into the country rose by 19 billion US dollar while portfolio investment declined by 13.7 billion dollar during 2019-20. According to the data on the International Investment Position. IIP released by RBI, International financial assets of Indian residents increased by 73.9 billion dollar due to the rise in reserve assets and overseas direct investment by 64.9 billion dollar and 13.0 billion dollar, respectively, it said that though other investments declined marginally during the year. The RBI said that overall, net claims of non-residents on India declined by 57.6 billion dollar during the year. It said that despite a fall of 13.7 billion dollar in portfolio investment during the year, international financial liabilities increased by 16.3 billion dollar as direct investment and other investments rose by 19.0 billion dollar and 11.0 billion dollar, respectively.
  • The Union Government has launched the Special Liquidity Scheme of 30 thousand crore ruppes to improve the liquidity position for Non-Banking Finance Companies – NBFCs and Housing Finance Companies – HFCs. The scheme was launched yesterday through a Special Purpose Vehicle in the form of SLS Trust setup by SBI Capital Markets Limited (SBICAP). Ministry of Finance in a statement said, Reserve Bank  of India will provide funds for the Scheme by subscribing to government guaranteed special securities issued by the Trust. The total amount of such securities issued outstanding shall not exceed 30 thousand crore rupees at any point of time. The Central Government will provide an unconditional and irrevocable guarantee to the special securities issued by the Trust. The Scheme will remain open for three months for making submissions by the Trust. The period of lending by the Trust will be for a period of up to 90 days. The financing would be used by the NFBCs and HFCs only to repay existing liabilities and not to expand assets. This facility is a part of the Central Government and RBIs efforts to alleviate the concerns of the market participants on the availability of funds to the sector.

International

  • President Vladimir Putin has won a resounding victory in his bid to stay in power until the middle of the next decade as Russians voted overwhelmingly to endorse the country’s political status quo. Russians cast ballots in a nationwide referendum on constitutional Amendments. The vote paves the way for Putin, who has ruled for two decades to remain President until 2036. The results are reminiscent of the 2018 Presidential Election, when Putin won re-election in a landslide with three quarters of ballots cast.
  • US president Donald Trump has blamed Chinese aggression for the stand-off at the India-china boarder. Quoting Mr. Trump, White House press secretary Kayleigh McEnany said, China’s aggressive stance along the India-China border fits with a large pattern of Chinese aggression in other parts of the world. She said, these actions only confirm the true nature of the Chinese Communist Party. Mr Trumps remarks come in the backdrop of Chinese actions both internally as well as across the Asian geopolitical theatre in the pas few months. In the past two months China has passed a repressive national security legislation regarding Hong Kong eroding its autonomy. Beijing has also stepped up its offensive in the South China Sea against countries such as Vietnam. The White House statement reflected a shaper position that had been evolving in the US administration, especially by secretary of state Mike Pompeo.

Sports

  • The government’s flagship program Fit India is launching a  series of interactive sessions with some of the top sports persons of the country intended to inspire the school children. The sessions, titled Fit India Talks, premiered on 3 July in the presence of Human Resource Development Minister Ramesh Pokhriyal Nishank and Sports Minister Kiren Rijiju along with badminton star PV Sindhu and Indian football team skipper Sunil Chhetri. A host of leading sports celebrities will be sharing their experiences of childhood, stories on how they got inspired, their failures, struggles and their success. This will give the audience a very inspirational yet interesting account of their journeys – from common school students to world-class champions. There will be a total of six sessions which will go on till 14th of this month. The likes of badminton star Ashwini Ponnappa, Indian women’s hockey team skipper Rani Rampal, table tennis star Manika Batra, shooter Apuri Chandela and inspirational Paralympian Deepa Malik will join in at the sessions. These will be streamed on Ramesh Pokhriyal Nishank’s social media pages, MHRD social media pages, Fit India Facebook & Youtube Channel, SAI Facebook Page, MyGov Youtibe Channel as well as the DD sports Television and Youtube Channel.

Website: http://employmentnews.gov.in/

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Deputy Manager and Manager Post | Export-Import Bank of India Read more: https://www.miliposts.in/bank-jobs/deputy-manager-and-manager-post-export-import-bank-of-india/#ixzz6Z2l6Lj7j

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