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Daily Current Affairs – 25 Sep 2020 : GKToday Updates

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Daily Current Affairs – 25 Sep 2020 : GKToday Updates

1. S Jaishankar participates in virtual SAARC meet

  • The External Affairs Minister, S Jaishankar participated in the virtual meeting of the South Asian Association of Regional Cooperation (SAARC) countries.
  • He said that the organization must overcome cross-border terrorism, obstruction in trade and blocking of connectivity as the three key challenges.
  • He also highlighted India’s support to its SAARC neighbours which includes Bhutan, Maldives and Sri Lanka and the financial assistance that India has provided them this year.
  • Increased collaboration against the COVID-19 pandemic, trade, and connectivity was also discussed in the meet.

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The SAARC is the regional intergovernmental organization and geopolitical union of states in South Asia. Its member states are Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
Founded: 8th December 1985, Dhaka; Headquarters: Kathmandu, Nepal


2. PM Modi to virtually inaugurate VAIBHAV Summit to be held on 2nd October

  • Prime Minister Narendra Modi will virtually inaugurate the Vaishwik Bharatiya Vaigyanik (VAIBHAV) Summit scheduled to be held on 2nd October this year.
  • VAIBHAV summit is a collaborative initiative by Science and Technology and Academic Organisations of the country to enable deliberations on thought process, practices and Research and development culture with a problem solving approach.
  • It aims to bring out the comprehensive roadmap to leverage the expertise and knowledge of global Indian researcher for solving emerging challenges. The platform will bring the Indian Overseas and resident academicians and scientists together.

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The International Day of Non-Violence is marked on 2nd October, the birth anniversary of Mahatma Gandhi.


3. Central govt suspends operation of Insolvency and Bankruptcy Code by another 3 months

  • The Central govt has suspended the operation of the Insolvency and Bankruptcy Code, 2016 (IBC) by another three months in order to protect companies in distress due to the Covid pandemic.
  • A gazette notification issued in this respect said that the suspension of the section 7, 9 and 10 of the IBC Code initially for six months has been further extended for three months starting from 25th Sept.
  • During the suspension of IBC codes, these firms are protected from being referred to insolvency proceedings.

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The Code was earlier suspended for six months from 25th March to help the firms recover from the financial distress due to the global pandemic.


4. UN, Britain to co-host a global climate summit on 12th Dec

  • The United Nations and Britain will co-host a global climate summit on Dec 12, the fifth anniversary of the landmark Paris Agreement.
  • UN Secretary-General Antonio Guterres and the UK Prime Minister Boris Johnson will co-host the event to rally much greater climate action and ambition.
  • National governments will be invited to present more ambitious and high-quality climate plans at the summit, which would involve government leaders, as well as the private sector and civil society.
  • The summit is intended to increase momentum ahead of the United Nations Climate Change Conference (COP 26) to be held in Glasgow in Nov 2021.

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The United Nations is an intergovernmental organization that aims to maintain international peace and security, develop friendly relations among nations and achieve international cooperation.
Headquarters: New York, United States


5. Former Australian cricketer Dean Jones dies of cardiac arrest in Mumbai

  • Former Australian cricketer Dean Jones passed away yesterday after suffering a cardiac arrest. He was 59.
    Jones was part of the Star Sports IPL commentary team and was in a bio-secure bubble in a Mumbai hotel.
  • Popularly known as Deano, the right-hander was one of the most successful batsmen in ODI cricket in his era.

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He was part of the 1987 World Cup winning team and had played 52 Tests and 164 ODIs for Australia.


6. RBI appoints AK Das as new administrator of PMC Bank

  • The Reserve Bank of India has appointed AK Das, ex-general manager at Union Bank of India, as the new administrator of the PMC bank with effect from September 23.
  • The present administrator, JB Bhoria, stepped down from his role as the administrator of the bank due to health reasons.
  • Last year on September 23, the banking regulator (RBI) superseded the board of PMC bank, after discovering fraud and financial irregularities in the bank, to protect the interest of the depositors and to secure proper management of the bank.