Latest Current Affairs: 27 March 2020

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Current
Affairs 27th March 2020
IMF launches Government Policy Tracker for COVID-19
  • The International Monetary Fund
    recently launched the “IMF Policy Tracker”. The
    platform will provide all the key economic responses launched by Government all
    over the world to fight against Corona Virus.
  • The tracker is to be updated based on the press release of the IMF Communication Department.

IMF:
International Monetary Fund
Formation: 27 December 1945; 74 years ago
Type: International Financial Institution
Headquarter: Washington D.C. U.S.  
Membership: 189 Countries
Chief Economist: Gita Gopinath
Parent Organization: United Nations
Government to supply an additional 2 kg subsidized food grain for 3
months
  • Government of India is to supply an
    additional 2kg subsidized food grains under the Public Distribution System
    (PDS) over the next three months. A total quota of 7 kg per person will be
    given. The announcement was made by the Ministry of Consumer Affairs, Food, and
    Public Distribution on 26 March.
  • The Food Ministry supply extra 2 kg
    subsidized food grains to over 80 crore people registered under Public
    Distribution System (PDS).
  • This subsidized food grains will be
    supplied for only the next 3 months to all ration card holders.
  • National Food Security Act (NFSA),
    the government is supplying 5 kg of food grains per month to over 80 crore
    people at a highly subsidized price. Wheat is supplied at Rs.2/kg and rice at
    Rs.3/kg.

5 Special emergency loans for
COVID-19 affected customers launched by Indian Bank

  • Indian Bank has launched five
    special emergency loans for large corporates, medium enterprises, MSMEs,
    salaried and pensioners as a support to its customers effecting through
    economic slump and lockdown because of COVID-19.

Following are the 5 Special emergency
loan for COVID-19.
  1. IND- COVID Emergency Credit Line
    (IBCECL)
  2. IND- MSE COVID Emergency Loan
    (INDMSE-CEL)
  3. SHG-COVID – SAHAYA LOAN
  4. IND-COVID Emergency Salary Loan
  5. IND COVID- Emergency Pension Loan

Confederation of Indian Industry sets up COVID-19 Rehabilitation and
Relief Fund
  • The Confederation of Indian
    Industries has set up funds to assist rehabilitation of micro, small and medium
    enterprises. The fund is to be raised from the members of the confederation.
  • The MSMEs are the most affected
    sectors due to the outbreak of Corona Virus. This is mainly because of the
    steps taken to contain the virus like Lock Down, travel bans, closer of
    theatres, malls and educational institution.
  • The government of India has allowed
    late repayment of loans by the MSMEs. The Government will suspend Section 7,
    Section 9 and Section 10 of the IBC code for six months.

SECTION 7: Under Section 7 of the Insolvency
Bankruptcy Code, the creditor or the Government may file an application to initiate
insolvency procedure.
SECTION 9: Corporate Insolvencies are
initiated under this section
SECTION 10: The section gives powers to
defaulting company to approach an adjudicating authority to declare it
insolvent.
CII:
Confederation of Indian Industry
Formation: 1895;
125 years ago
Headquarters:
New Delhi
President:
Vikram Kirloskar
ARCI, Hyderabad develops ‘ultrafast laser surface texturing technology’ to
improve fuel efficiency of IC engines

  • International Advanced Centre for
    Powder Metallurgy & New Materials (ARCI), Hyderabad (Telangana), which
    functions as a grants-in-aid institution of the Government of India’s
    Department of Science & Technology (DST), has developed ‘ultrafast laser
    surface texturing technology’, which can enhance the efficiency of fuel in
    internal combustion (IC) engines by reducing friction.
  • By using this technology, the
    friction of the engines has been reduced by controlling the size, density and
    shape of the micro-surface texture features, which are created by using a
    pulsating laser beam.

Krishan
Mohan Prasad and Satish Kumar Gupta appointed CBDT board members
  • The Appointment Committee of the
    Cabinet approved the appointment of two Indian Revenue Service (IRS) officers
    Krishan Mohan Prasad and Satish Kumar Gupta as members of the Central Board of
    Direct Taxes (CBDT).
  • Kishan Mohan Prasad is a 1984 batch
    IRS officer, serves as the head of Faceless e-Assessment scheme as first
    Principal Chief Commissioner of Income-tax, National e-assessment center in
    Delhi.
  • Satish Kumar Gupta is a 1984 batch
    IRS officer, serves as the Principal Chief Commissioner (PCCIT) of I-T (Income
    Tax) in Mumbai, Maharashtra & also served as Director-General of
    Investigation of Bhopal and Jaipur.

CBDT:
Central Board of Direct Taxes
Formation: 1944
Appointer: Finance Minister of India
Indian football skipper Sunil Chhetri
has been named for FIFAs campaign to combat COVID-19 crisis
  • Indian football captain Sunil
    Chhetri has been picked among 28 players for the world

    Sunil Chhetri

    governing body FIFA’s
    campaign to combat the COVID-19 pandemic.

  • He has been selected along with
    Lionel Messi, Philip Lahm, Iker Casillas, and Carles Puyol.
  • FIFA and the World Health
    Organization (WHO) have partnered to combat the coronavirus and launched ‘Pass the message to kick out coronavirus’, a new
    awareness campaign, led by world-renowned footballers.
  • The campaign urges people to follow
    five key steps to stop the spread of the disease.
  • The five key steps as per the WHO
    guidance, is hand washing, coughing etiquette, not touching your face, physical
    distance and staying home if feeling unwell.
  • 28 players are involved in the
    video campaign which will be published in 13 languages.

FIFA: The Federation
International de Football Association
Founded: 21
May 1904
Founded at:
Paris, France
Headquarter:
Zurich, Switzerland
Membership:
211 National Associations
President:
Gianni Infantino
Motto: For the Game, For the
World
Short Notes
  • Aviation sector might face losses up to USD
    3.6 billion in June quarter.
  • Census 2021 and NPR updating postponed due to
    COVID-19 pandemic.
  • “Stay Home India with Books” initiative
    launched by government of India. Under the initiative more than 100 books can
    be downloaded from the NBT website.
  • National Book Trust (NBT) of Human Resource
    Development HRD Ministry launches #StayHomeIndiaWithBooks initiative to
    encourage people to read books while at home
  • Maharashtra overtakes Tamil Nadu and Telangana
    in organ transplants and donation in 2019.
    Maharashtra – 153,         Telangana –
    117,              Tamil Nadu – 93.
  • UP Government bans sale, manufacture of pan
    masala for indefinite period.
  • Indore becomes first city in India to sanitize
    the city by drone for COVID-19.
  • Walmart promotes Sameer Aggrawal as CEO of
    Best Price.
  • Union Cabinet approves MoU between India and
    Germany in Railway sector.
  • Former Indian Footballer Abdul Latif passed
    away at 73.
  • 750 km range cruise missile Babur II of Pakistan crashes.

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