15th May 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Read the daily GK update of 15th May 2020. In today's GK Update we are covering the following news headlines: Atmanirbhar Bharat Abhiyan, COBAS 6800, World Bank, Matir Smristi, WTO. and many more. Read the daily GK update for upcoming competitive exams in 2020.

Here is the daily GK update of 15th May 2020 covering the following news headlines: Atmanirbhar Bharat Abhiyan, COBAS 6800, World Bank, Matir Smristi, WTO.

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 15th May 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. FM announces 3rd tranche of measures for “Aatmanirbhar Bharat Abhiyan”

Union Finance Minister Nirmala Sitharaman has announced the details of the 3rd tranche of Economic Relief Package for “Aatmanirbhar Bharat Abhiyan” amid COVID-19 pandemic. This 3rd tranche is the part of economic package of Rs 20 lakh crore has been announced with the prime objective of making India self-reliant.

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2. Dr Harsh Vardhan dedicates “COBAS 6800” testing machine to the nation

Union Minister of Health and Family Welfare, Dr Harsh Vardhan dedicated the “COBAS 6800”, COVID-19 testing machine to the nation. The COBAS 6800 is the first such testing machine procured by the Government for testing COVID-19 cases and has been installed at the National Centre for Disease Control in Delhi.

Important takeaways for all competitive exams:

  • National Centre for Disease Control Founded: 1909.
  • National Centre for Disease Control Headquarters: New Delhi.
  • National Centre for Disease Control Director: Sujeet Kumar.

3. World Bank approves $1 billion social protection package for India

In wake of the COVID-19 pandemic, the World Bank has announced $1 billion social protection package for India. This package will be linked to the programmes launched by the Government of India. Hence, it will support India’s efforts at providing social assistance to the poor and vulnerable households who severely impacted by the COVID-19 pandemic.

Important takeaways for all competitive exams:

  • President of World Bank: David Malpass.
  • Headquarter of World Bank: Washington DC.

International News

4. Slovenia becomes 1st coronavirus-free country in Europe

Slovenia becomes the 1st nation in Europe to declare an official end to the COVID-19 pandemic. More restrictions have now been eased in the country and people entering from other European Union states. The country housing over 2 million people bordered with Italy, Austria, Hungary, and Croatia has reported 1,464 cases of COVID-19 disease and 103 deaths after declaring a pandemic.

Important takeaways for all competitive exams:

  • Capital of Slovenia: Ljubljana.
  • The currency of Slovenia: Euro.
  • Prime Minister of Slovenia: Janez Janza.

State News

5. West Bengal govt launches ‘Matir Smristi’ scheme

West Bengal Government has launched ‘Matir Smristi’ scheme to utilise 50,000 acres of barren land in 6 districts. This scheme helps to generate income activities in horticulture and pisciculture involving the locals. The ‘Matir Smristi’ scheme will benefit around 2.5 lakh people in rural Bengal.

Important takeaways for all competitive exams:

  • Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.

Appointments

6. WTO chief Roberto Azevedo resigns from post

The head of the World Trade Organization, Roberto Azevedo will step down from his post on August 31. He became the WTO chief in 2013.  The 62-year-old Brazilian career diplomat’s second four-year term was not scheduled to end until September 2021. He is cutting seven-year tenure marked in recent years by intense pressure from US President Donald Trump. Donald Trump had accused the Geneva-based trade body of an anti-US bias and other complaints.

Important takeaways for all competitive exams:

  •  World Trade Organization Headquarters: Geneva, Switzerland.
  •  World Trade Organization Membership: 164 member states.
  •  World Trade Organization Founded: 1 January 1995.

Agreements

7. Federal Bank tie-up with MoneyGram for direct-to-bank deposits service

A private sector bank, Federal Bank Limited tie-up with MoneyGram Payment System to offer a cost-effective direct-to-bank account credit option for customers in India. This tie-up will help the non-resident Indians with access to modern, low cost, fast, easy and reliable ways for transferring money to India.

Important takeaways for all competitive exams:

  • Federal Bank Limited Chairperson: Grace Elizabeth Koshie.
  • Federal Bank Limited MD & CEO: Shyam Srinivasan.
  • Federal Bank Limited Headquarters: Aluva, Kerala.
  • MoneyGram Chairman & CEO: Alex Holmes.
  • MoneyGram founded: 1988.

Awards 

8. V. Admiral G.M. Hiranandani Memorial Rolling Trophy 2020 announced

Lieutenant Commander Akshay Kumar was awarded the Vice Admiral G.M. Hiranandani Memorial Rolling Trophy for the year 2020. He commissioned in Anti-Submarine Warfare School of the Southern Naval Command in Kochi. The award ceremony was held at the Maritime Warfare Centre, Kochi, Kerala.

Important takeaways for all competitive exams:

  • Chief of the Naval Staff (CNC): Admiral Karambir Singh.

Economy

9. UN releases report “World Economic Situation and Prospects”

The United Nations has released its report “World Economic Situation and Prospects” as of mid-2020. In this report, UN has projected growth rates of individual countries as well as global economy for fiscal year 2020 & 2021. According to the “World Economic Situation and Prospects” as of mid-2020, the growth rate of India has been projected to grow at 1.2% in fiscal year 2020. While the report has also indicated a slight recovery in the growth rate of India for fiscal year 2021 and stated that it would clock a 5.5% growth rate in 2021. As the COVID-19 pandemic has paralysed the world, the UN has projected that the global economy will contract sharply by 3.2% in fiscal year 2020, with only a gradual recovery of lost output projected for fiscal year 2021.

Schemes and Committees

10. Government of India sets up “Rice Export Promotion Forum”

Rice Export Promotion Forum (REPF) has been set up by the Government of India to provide stimulus to the rice exports. The Rice Export Promotion Forum has been set up under the aegis of the Agricultural and Processed Foods Export Promotion Development Authority (Apeda).

Summits and Conferences

11. Shanghai Cooperation Organisation Foreign Ministers meet on COVID-19

A virtual conference of Foreign Ministers of Shanghai Cooperation Organisation member countries was held to deliberate on cooperation to fight the COVID-19 pandemic. The Foreign Ministers of the member countries of Shanghai Cooperation Organisation participated in the video conference. In the video conference, India was represented by the External Affairs Minister S Jaishankar.

Important takeaways for all competitive exams:

  • Shanghai Cooperation Organisation (SCO) is a permanent intergovernmental international organisation.
  • Presently SCO comprises of eight member states: the Republic of India, the Republic of Kazakhstan, the People’s Republic of China, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan, and the Republic of Uzbekistan.

12. 2nd Extraordinary G20 Virtual Trade and Investment Ministerial Meet

The second edition of Extraordinary G20 Virtual Trade and Investment Ministerial Meet was held under the presidency of Saudi Arabia. The meeting was chaired by the Saudi Minister of Commerce, Majid Al Qasabi, in the presence of the Minister of Investment, Khalid Al-Faleh. In the virtual meeting, India was represented by the Union Commerce and Industry Minister Piyush Goyal.

Important takeaways for all competitive exams:

  • The Group of Twenty (G20) is the premier forum for international economic cooperation which brings together the leaders of both developed and developing countries from every continent. ​
  • The members of the G20 group are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, ​Republic o​f Korea, Turkey, the United Kingdom, the United States and the European Union (EU)​.

13. 32nd Commonwealth Health Ministers Meet held via Video Conference

The 32nd Commonwealth Health Ministers’ Meeting was held through Video Conference. India was represented by Union Minister of Health & Family Welfare, Dr. Harsh Vardhan in the video conference. The meeting was held with a theme: Delivering a co-ordinated Commonwealth COVID-19 response.

Defence

14. Raksha Mantri commissions ICGS “Sachet” & two interceptor boats

Raksha Mantri Rajnath Singh has commissioned Indian Coast Guard Ship (ICGS) Sachet and two interceptor boats (IBs) C-450 and C-451 in Goa via video conference. This is the first time in the annals of Indian maritime history that a coast guard ship was commissioned through the digital medium, maintaining the strict protocol of social distancing in the backdrop of pandemic COVID-19.

Important takeaways for all competitive exams:

  • Chief of the Naval Staff (CNC): Admiral Karambir Singh.

Important Days

15. International Family Day observed globally on 15th May

International Family Day observed globally on 15th May every year. This day is spread awareness about the importance of families and the role of the international community in the development of the families. A happy and healthy family makes up for a supportive society, which in turn makes better citizens of the nation.

Obituaries

16. Film actor Sai Gundewar passes away

Film actor, model, voiceover artist and an entrepreneur, Sai Gundewar passed away. His popularity rose in 2010 after his participation in the hit Reality TV show MTV Splitsvilla, Season 4. He has also acted alongside Aamir Khan in PK, and Rock on.

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