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Daily Current Affairs – 5 Sep 2020 : GKToday Updates
1. India to host Quad meet and 2+2 dialogue
- India will soon be hosting the Quad meet involving Australia, Japan and United States and the 2+2 dialogue with the United States.
- The information regarding the diplomatic engagements was shared by the Ministry of External Affairs at the regular weekly briefing.
- Two of the quad countries- Australia and Japan have assured huge investments in India’s infrastructure technology and supply chain.
- The Quad meeting and 2+2 dialogue are taking place at a time when tensions between India and China are high after LAC standoff.
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Quad or the Quadrilateral Security Dialogue is an informal strategic forum, which was formed initially in 2007 between the United States, Japan, Australia and India.
2. RBI revises PSL guidelines; Bank loans to start-ups to get priority sector tag
- RBI has revised Priority Sector Lending guidelines to address regional disparities in the flow of priority sector credit. Priority sector loans refer to loans that banks need to mandatorily lend to economically weaker sections of the society.
- In the revised guidelines, higher weightage have been assigned to incremental priority sector credit in identified districts where priority sector credit flow is comparatively low.
- Bank finance to start-ups up to 50 crore rupees, loans to farmers for installation of solar power plants for grid connected agriculture pumps and for setting up Compressed Bio Gas plants have been included as fresh category eligible for finance under priority sector.
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The Reserve Bank of India is India’s central bank, which controls the issue and supply of the Indian rupee. RBI is the regulator of the entire Banking in India.
Headquarters: Mumbai; Governor: Shaktikanta Das
3. ICMR issues new guidelines allowing testing on demand for COVID-19
- Indian Council of Medical Research (ICMR) has issued a new advisory on Covid-19 testing strategy, allowing testing on demand for all individuals undertaking travel to countries or Indian states mandating a negative Covid-19 test at the point of entry.
- The advisory has suggested that 100 per cent of people living in containment zones should be tested by rapid antigen tests, particularly in cities where there has been widespread transmission of the infection. Besides, it advised testing all symptomatic individuals with a history of international travel in the last 14 days.
- ICMR has also suggested testing for asymptomatic patients undergoing surgical or non-surgical invasive procedures.
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The Indian Council of Medical Research (ICMR) is the apex body in India responsible for the formulation, coordination and promotion of biomedical research and is one of the oldest and largest medical research bodies in the world.
Headquarters: New Delhi; Director General: Balram Bhargava
4. 15th Finance Commission holds discussions with its Economic Advisory Council
- The Fifteenth Finance Commission holds discussions with its Economic Advisory Council. The meeting was chaired by N. K. Singh, Chairman of Fifteenth Finance Commission.
- Finance Ministry said, the meeting discussed a wide range of issues around GDP growth, tax buoyancy of the Centre and the States, GST compensation and fiscal consolidation. Specific issues relating to public
- expenditure on health, investment revival, recapitalization of the financial system and its impact on public finances were also discussed.
- The Advisory Council felt that Finance Commission is faced with an unprecedented situation of uncertainties and will have to take a nuanced approach towards tax devolution to the States.
5. 11th INDRA NAVY maritime exercise between Indian and Russian Navy to begin today
- The 11th edition of INDRA NAVY, a biennial bilateral maritime exercise between Indian and Russian Navy will begin in the Bay of Bengal from today.
- Initiated in 2003, Exercise INDRA NAVY epitomises the long-term strategic relationship between the two Navies.
- The primary aim of exercise is to further consolidate inter-operability built up by the two Navies over the years and also to enhance understanding and procedures for multi-faceted maritime operations.
- The scope of this edition includes wide-ranging and diverse activities across the spectrum of maritime operations.
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Russia President: Vladimir Putin; Capital: Moscow
6. Teacher’s day being celebrated today: 5th Sept
- Teacher’s day is celebrated every year on 5th Sept on the birth anniversary of educationist and former President Dr Sarvepalli Radhakrishnan to honor them for their special contributions.
- President Ram Nath Kovind will virtually confer National Awards to Teachers in New Delhi today. Education Minister Ramesh Pokhriyal Nishank and Minister of State for Education Sanjay Dhotre will also be present on the occasion.
- The national level awards are given to teachers on Teachers’ Day to celebrate the contribution of some of the finest teachers in the country.
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This year, President will honour 47 teachers who through their commitment have improved the quality of school education.