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DAILY CURRENT AFFAIRS – 26 June 2020 : GK UPDATES
1. Govt decides to bring cooperative banks under RBI through an ordinance
– The Union Cabinet has decided to bring all co-operative banks under the Reserve Bank of India through an ordinance.
– Government banks including 1,482 urban cooperative banks and 58 multi-state cooperative banks are now being brought under supervisory powers of Reserve Bank of India (RBI).
– After the Punjab and Maharashtra Cooperative (PMC) Banks fiasco last year, the Union Cabinet in February amended Banking Regulation Act to strengthen the cooperative banks in the country.
– During Budget 2020, Finance Minister Nirmala Sitharaman also announced that cooperative banks will be brought under the ambit of RBI.
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There are more than 8.6 crore depositors in over 1,500 urban and multi-state cooperative banks across the country.
2. IMF projects sharp contraction of 4.5% in Indian economy in 2020
– The International Monetary Fund announced that India’s Gross Domestic Product will contract by 4.5% in the ‘2020-21’ financial year.
– This is much lower than the 1.9% positive growth the IMF had forecast in its World Economic Outlook for April.
– The report said that the Indian economy will bounce back in 2021-22 with a growth rate of around 6%.
– The IMF also said that the world economy will experience an even deeper recession in 2020-21. It will contract by 4.9% in 2020-21.
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The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.
IMF Managing Director: Kristalina Georgieva; Chief Economist: Gita Gopinath
3. United Nations honoured KK Shailaja for her efforts to fight COVID-19
– United Nations honoured Kerala Health Minister KK Shailaja by inviting her on panel discussion on World Public Service Day. She was the honoured speaker from India to speak about the strategies that were adopted by the state to combat the pandemic.
– Kerala’s strategy of contact tracing, aggressive testing and quarantining had slowed the spread of the virus in the state. She was even consulted by the states like Maharashtra to control the spread of the pandemic.
– Kerala State Health Minister, KK Shailaja, explained the strategies, which are now known as the ‘Kerala model’, to combat COVID-19. The former teacher has been receiving recognition for efforts that were reflected in the state’s response to the pandemic.
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The United Nations is an intergovernmental organization that aims to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations.
Secretary General: António Guterres; Headquarters: New York, United States
4. Haryana govt, Reliance Jio TV enters agreement to educate 52 lakh students
– Haryana government and Reliance Jio TV have entered an agreement that is expected to benefit around 52 lakh school children in rural areas.
– This new agreement is done under the Chief Minister’s Distance Education Programme in order to expand education in rural areas without jeopardizing social distancing during the Covid-19 pandemic.
– Under the agreement, all four channels of Eduset will now be available on the Jio platform free of cost.
– Due to Covid-19 pandemic the state is facing difficulty in imparting education to school children, especially in the rural setup.
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Haryana Capital: Chandigarh; Chief Minister: Manohar Lal Khattar
Governor: Satyadev Narayan Arya
5. West Bengal govt extends COVID-19 lockdown till July 31
– West Bengal government has extended the lockdown till July 31. The decision has been taken in order to control the spread of COVID-19 in the state.
– The state government has also extended the closure of all the educational institutions till July 31, 2020. These institutions include state-aid, state-run schools, universities, and colleges across the state.
– Mamata Banerjee, Chief Minister of West Bengal had conducted an all-party meeting in Kolkata to review the COVID-19 situation in the state. The government had earlier announced the COVID-19 lockdown till June 30.
6. Union Minister Dr Jitendra Singh inaugurates Devika and Puneja Bridges in Udhampur & Doda Districts
– Union Minister Dr Jitendra Singh inaugurated two important bridges in his Lok Sabha constituency, namely Devika Bridge in Udhampur and Puneja Bridge in Bhaderwah, through a Virtual ceremony.
– The Bridge on River Devika in Udhampur has been completed by the Border Roads Organisation within fifteen months. The Puneja Bridge was also constructed by the Border Roads Organisation (BRO) in 36 months.
– The 10-meter-long Devika Bridge construction resolves the traffic issues of the region and this will also help in smooth passage of army convoys and vehicles. While the 50-meter-long Puneja Bridge is strategically very important from defence point of view.
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BRO Headquarters: New Delhi; Director General: Lt. Gen. Harpal Singh