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Daily Current Affairs – 4 July 2020 : Today Gk Updates

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Daily Current Affairs – 4 July 2020 : Today Gk Updates

1. President Kovind inaugurates Dharma Chakra Day celebrations on Asadha Poornima

– President Ram Nath Kovind inaugurates the Asadha Poornima celebrations being observed as Dharma Chakra Day from the Rashtrapati Bhavan today.

– On the occasion, Prime Minister Narendra Modi delivers a video address to emphasize the teachings of Lord Buddha and the Eight Fold Path shown by him.

– Dharma Chakra Day commemorates Lord Buddha’s first sermon to his first five ascetic disciples at the Deer Park in Rsipatana in the present day Sarnath near Varanasi in Uttar Pradesh.

– The day is also celebrated by Buddhists all over the world as the day of Dharma Chakra Parvattana or “Turning of the Wheel of Dharma”. This day is also observed as Guru Poornima by both Buddhists and Hindus as a day to mark reverence to their Gurus.

– Due to COVID-19 pandemic, the entire programme is being conducted virtually. Today’s event is expected to be witnessed by around 30 lakh devotees worldwide through live webcast.

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The celebrations are being organized by the International Buddhist Confederation (IBC) in partnership with the Union Ministry of Culture.


2. PM Modi visits Ladakh; meets soldiers injured in Galwan Valley clash

– Prime Minister Narendra Modi made a surprise visit to Ladakh on July 3, 2020. The Prime Minister reached there early morning accompanied by Chief of Defence Staff General Bipin Rawat and Army Chief MM Naravane.

– The Prime Minister met soldiers who were injured in the violent clash at Galwan valley.

– While addressing the Indian soldiers in Nimoo, Ladakh, the Prime Minister lauded their strength and courage and said that the Indian soldiers has sent a message to the world about India’s strength.

– The Prime Minister also paid his tributes to the bravehearts who martyred at Galwan in the clash between Indian and Chinese troops on June 15.


3. Govt postpones JEE, NEET exams in view of COVID-19

– Union Government has postponed medical and engineering entrance examinations NEET and JEE in view of COVID-19 pandemic.

– Now, Joint Entrance Exam (JEE) Main examination will be held from 1st to 6th September this year while JEE advanced exam on 27th of September. National Eligibility-cum-Entrance Test (NEET) will be held on 13th of September.

– Human Resource Development Minister Ramesh Pokhriyal Nishank said, the decision has been taken keeping in mind the safety of students and to ensure quality education. The decision was taken following recommendations of an Expert Committee set up by the government to review the feasibility of conducting the exams in July.


4.Fitch cuts India growth projection to 8% for FY22

– Fitch Ratings cut India’s growth forecast for 2021-22 fiscal to 8% from 9.5% projected last month. It, however, retained its projection of Indian economy contracting by 5% in the current fiscal.

– S&P has forecast a 5% contraction in the fiscal year starting April, and the growth to recover to 8.5% next fiscal.

– Moody’s expects India’s real GDP to contract by 4% in fiscal 2020 due to the shock from the coronavirus pandemic and related lockdown measures, followed by 8.7% growth in fiscal 2021 and closer to 6% thereafter.

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Fitch Ratings is an American credit rating agency and is one of the “Big Three credit rating agencies”, the other two being Moody’s and Standard & Poor’s.
Headquarters: New York, United States; CEO: Paul Taylor


5. Tamil Nadu announces monthly Rs 3,000 stipend for lawyers to overcome financial difficulties

– Tamil Nadu government has announced a monthly stipend of 3,000 rupees to junior lawyers for two years to help them overcome financial difficulties. The stipend has been a longstanding demand of the Bar Council of Tamil Nadu.

– The Tamil Nadu Government is implementing an Advocates Welfare Scheme for more than three decades. Under the scheme, on the demise of the advocates, currently seven lakh rupees each are being given to their families.

– Now as an additional measure, the young advocates are going to be handed over a monthly dole of three thousand rupees for the next two years.

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TN Chief Minister: Edappadi K. Palaniswami; Capital: Chennai


6. HDFC Bank launches ”e-Kisaan Dhan” app for farmers

– HDFC Bank launched ”e-Kisaan Dhan” app for farmers across India to access a bouquet of agricultural and banking services on their mobile.

– The app, which serves as a repository of knowledge and information for any individual engaged in farming, helps meet needs of the rural ecosystem. The app will also provide value-added services, like mandi prices, latest farming news, weather forecast, information on seed varieties, SMS advisory, e-pashuhaat and Kisan TV.

– Users can also avail multiple banking services like procuring loans, opening bank accounts, insurance facilities, online calculation of KCC loan eligibility, and for acquiring government social security schemes. The app will help with traditional banking services and keep users informed about new government schemes and ways to access them.

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HDFC CEO: Aditya Puri; Headquarters: Mumbai