01st August 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Read the daily GK update of 01st August 2020. In today's GK Update we are covering the following news headlines: MSMESaksham, NASA, Ivory Coast, Reliance Power, SKOCH Gold Award. Read the daily GK update for upcoming competitive exams in 2020.

Here is the daily GK update of 01st August 2020 covering the following news headlines: MSMESaksham, NASA, Ivory Coast, Reliance Power, SKOCH Gold Award.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about the banking terms, current affairs news, etc. So, here is the GK update of 01st August 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

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National News

1. SIDBI & TransUnion CIBIL launches portal “MSMESaksham”

  • The Small Industries Development Bank of India (SIDBI) has launched one-stop knowledge portal named as “MSMESaksham” in association with TransUnion CIBIL.
  • The platform has been launched for micro, small and medium enterprises (MSMEs).
  • MSMESaksham is a comprehensive financial education and knowledge platform for MSMEs and will support them in managing their credit obligations.
  • MSMESaksham will provide MSMEs quick access to finance and empower them by making them financially aware and loan-ready so that timely and affordable financial support is realised.

Important takeaways for all competitive exams:

  • Chairman of Small Industries Development Bank of India: Mohammad Mustafa.

International News

2. NASA & ULA launched Mars 2020 Perseverance Rover Mission

  • The National Aeronautics and Space Administration has launched “Mars 2020 Perseverance rover mission” with United Launch Alliance (ULA) Atlas V rocket to the Red Planet “Mars”.
  • The Mars 2020 Perseverance rover mission was launched from Space Launch Complex 41, at Cape Canaveral Air Force Station in Florida.
  • The Perseverance rover is part of NASA’s Mars Exploration Program which is a long-term effort of robotic exploration of the Red Planet.
  • The ULA Atlas V’s Centaur upper stage will initially place the Mars 2020 spacecraft into a parking orbit around Earth. NASA has launched the Mars 2020 Perseverance rover mission to search for signs of ancient life and collect samples to send back to Earth.

Important takeaways for all competitive exams:

  • Administrator of National Aeronautics and Space Administration: Jim Bridenstine.
  • Headquarters of NASA: Washington D.C., United States.

3. Hamed Bakayoko named as Prime Minister of Ivory Coast

  • Ivory Coast’s Defence Minister, Hamed Bakayoko has been named as the Prime Minister of the country.
  • Bakayoko was presently serving as the as interim PM of the country since the sudden death of former Prime Minister Amadou Gon Coulibaly.
  • Bakayoko was a founding member of the Rally of the Republicans (RDR) party and was also in charge of the party’s daily newspaper, Le Patriote.

Important takeaways for all competitive exams:

  • President of Ivory Coast: Alassane Ouattara; Capital: Yamoussoukro.

Agreements & MoUs

4. RPower & JERA inks loan agreement for Bangladesh’s power plant

  • Reliance Power and Japanese energy major JERA have signed an agreement with a group of banks for their new gas-fired thermal power generation project in Bangladesh.
  • The signed agreement will provide full finance of about $642 million (approx Rs 4,798 crore) for a new 745 MW natural gas combined-cycle power project in Meghnaghat in Bangladesh. This is one of the largest funding tie-ups for a project in Bangladesh’s power sector.
  • With this agreement, Reliance Power and JERA will focus on full-scale construction and aims to work steadily towards achieving commercial operation in 2022.
  • The electricity generated from the 745 MW natural gas combined-cycle power project will be sold under a long-term power purchase agreement with the Bangladesh Power Development Board (BPDB). 

Important takeaways for all competitive exams:

  • Chairman of Reliance Power: Anil Ambani.
  • Prime Minister of Bangladesh: Sheikh Hasina; Capital: Dhaka; Currency: Taka.

Awards & Rewards

5. Ministry of Tribal Affairs receives SKOCH Gold Award

  • SKOCH Gold Award has been awarded to the Ministry of Tribal Affairs (MoTA) for its “Empowerment of Tribals through IT enabled Scholarship Schemes” project.
  • The project was launched to show Government of India’s commitment to realize the dreams of Digital India and bringing transparency as well as ease in the delivery of services.
  • The 66th SKOCH 2020 Competition was held with name “INDIA RESPONDS TO COVID THROUGH DIGITAL GOVERNANCE”.
  • The Ministry of Tribal Affairs (MoTA) participated in the DIGITAL INDIA & E-GOVERNANCE-2020 Competition.

Important takeaways for all competitive exams:

  • Union Minister for Tribal Affairs: Arjun Munda.

Summits & Conferences

6. Russia chaired 6th BRICS Environment Ministers’ Meeting

  • The 6th BRICS Environment Ministers’ Meeting was held under the presidency of Russia.
  • The Environment Ministers of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa participated in the meeting held via the video conference.
  • India will host the next meeting in 2021.
  • Union Environment Minister, Shri Prakash Javadekar represented India in the BRICS Environment Ministers’ Meet.
  • During the meet, the minister highlighted the efforts made by India in controlling Air pollution such as the National Clean Air Programme (NCAP) which was launched in 2019.

Important takeaways for all competitive exams:

  • President of Russia: Vladimir Putin.
  • Capital of Russia: Moscow; Currency: Russian Ruble.


7. Former Taiwanese President Lee Teng-hui passes away

  • Former Taiwanese President Lee Teng-hui passed away. He served as president of Taiwan from 1988 to 2000. He was also considered as the “father of Taiwan’s democracy”.
  • Lee Teng-hui became president in 1988 after the demise of predecessor, Chiang Ching-kuo.
  • Lee also led constitutional changes towards a democratic political layout, including direct presidential elections.

Important takeaways for all competitive exams:

  • President of Taiwan: Tsai Ing-wen.

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