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GKToday : 22nd May Current Affairs - Daily GK Updates

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GKToday : 22nd May Current Affairs – Daily GK Updates

1. Govt relaxes norms of Partial Credit Guarantee Scheme for HFCs, NBFCs

– The Union Cabinet chaired by Prime Minister Narendra Modi decided to relax the norms of the Partial Credit Guarantee Scheme.

– The cabinet has also extended its time period to widen the coverage to include a large number of microfinance institutions, HFCs, and NBFCs.

– Finance Minister Nirmala Sitharaman last week announced Partial Credit Guarantee Scheme 2.0 worth Rs. 45,000 crore for Micro Finance Institutions (MFIs) and Non- Banking Financial Companies (NBFCs).

– The scheme was part of special economic package amid the ongoing COVID-19 pandemic.


2. Flipkart ties up with Bajaj Allianz General Insurance for digital motor cover

– Flipkart and Bajaj Allianz General Insurance Company have partnered to offer a digital motor insurance policy to customers of the e-commerce major. Consumers can buy this motor-insurance policy using their Flipkart app.

– This partnership between the insurance company and an e-commerce major will provide seamless, accessible as well as flexible insurance solutions to the customers of Flipkart in order to safeguard their vehicles.

– With this partnership, the Bajaj Allianz General Insurance Company will have a wider distribution base on the e-commerce platform.


3. UP govt launches ‘Startup Fund’ to encourage youth for entrepreneurship

– Uttar Pradesh government has launched the ‘Uttar Pradesh Startup Fund’ to encourage the youth of the state for entrepreneurship.

– Chief Minister Yogi Adityanath handed over the first installment of 15 crore rupees to Small Industries Development Bank of India (SIDBI) at a function in Lucknow.

– A MoU has been signed between the state government and SIDBI as a step in this direction, which will further strengthen the possibilities of job creation in the state.


4. Cabinet approves Pradhan Mantri Matsya Sampada Yojana

– The Union Cabinet has approved Pradhan Mantri Matsya Sampada Yojana. The scheme aims to bring about Blue Revolution through sustainable and responsible development of fisheries sector in the country.

– It will be implemented at a total investment over Rs. 20 thousand crore. The investment will comprise a Central share of 9407 crore rupees, State share of Rs. 4,880 crore and beneficiaries’ share of Rs 5,763 crore.

– The scheme will be implemented during a period of five years from 2020-21 to 2024-25. It will create direct employment opportunities to about 15 lakh fishers, fish farmers, and fish vendors.


5. National Anti-Terrorism Day: 21 May

– May 21 is observed as Anti-terrorism day across India to commemorate the death anniversary of the former Prime Minister Rajiv Gandhi.

– He was assassinated on this day in 1991, by LTTE cadres in a suicide bombing attack at a rally at Sriperumbudur in Tamil Nadu.

– The day has been observed every year with the aim to highlight the importance of fighting with the activities of terrorism.

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Rajiv Gandhi was the sixth PM of India after his mother Indira Gandhi’s assassination in 1984. He served the nation as the prime minister from the year 1984 to 1989.


6. US Senate passes bill to delist Chinese firms from stock exchanges

– The US Senate passed legislation that seeks to delist Chinese firms from US securities exchanges unless they follow US standards of audits and regulations.

– The bill, jointly tabled by Republican Senator John Kennedy and Democratic Senator Chris Van Hollen, was passed in the Senate with unanimous support.

– The bill will now go to the House of Representatives. The legislation needs to be passed by the House of Representatives and then be signed by US President Donald Trump to become a law.