24th & 25th May 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the daily GK update of 24th and 25th May 2020 covering the following news headlines: MoHFW, ReStart Package, Aritz Aduriz, FICCI Ladies Organization.

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 24th and 25th May 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. MoHFW constitutes committee to reform Drug Regulatory System

The Ministry of Health and Family Welfare (MoHFW) has constituted a committee to reform the Drug Regulatory System. The committee comprises of 11 members including the senior health officials, scientists and representatives of the pharmaceutical industry and is headed by Rajesh Bhushan. It has been tasked to examine the current drug regulatory system and to give recommendations for reforms in order to bring the system more efficient and to streamline it with global standards.

Important takeaways for all competitive exams:

  • Union Minister of Health and Family Welfare: Harsh Vardhan.

State News

2. Andhra Pradesh government releases 1st tranche of “ReStart Package”

Andhra Pradesh government has released the 1st tranche of “ReStart Package” to help the lockdown-hit Micro, Small and Medium Enterprises (MSMEs) to reopen and become functional. The first tranche is of Rs 450 crore which will be used in clearing the pending industrial incentives that would benefit nearly 98,000 units. Under the “ReStart Package”, government will waive of all the minimum power demand charges of MSMEs of the months of April, May and June, and will provide input capital of Rs 200 crore to the firms at low-interest rates in order to bring the MSMEs back on rails. This will be done by providing loans in partnership with the Small industrial Development Bank of India at a low-interest rate.

Important takeaways for all competitive exams:

  • Chief Minister of Andhra Pradesh: YS Jagan Mohan Reddy; Governor: Biswa Bhusan Harichandan.

3. Mizoram Cabinet grants “Industry” status to “Sports”

The Mizoram Cabinet has granted “industry” status to “sports” to invest more in sports in order to generate employment and increase value. Giving the industry status to sports would also ensure sustainability, proper registration as well as management of sports. With this move, the sports and its infrastructure will be eligible to avail the facility of subsidy, loan and assistance from the private and government sources.

Important takeaways for all competitive exams:

  • Chief Minister of Mizoram: Pu Zoramthanga; Governor: P.S. Sreedharan Pillai.


4. Jahnabi Phookan appointed as National President of FLO

FICCI Ladies Organization (FLO) has appointed Assam-based entrepreneur Jahnabi Phookan as its National President. As a National President, she will work towards empowering women with entrepreneurship capabilities and professional excellence. FICCI FLO works towards women’s economic empowerment and represents over 8,000 women entrepreneurs and professionals across 17 chapters nationally.

5. Abhas Jha becomes World Bank’s Practice Manager for Climate Change

Abhas Jha has been appointed as the World Bank’s Practice Manager for Climate Change and Disaster Risk Management for South Asia and will be responsible to nurture, lead, inspire and position a team of highly qualified professionals to provide the best solutions for South Asian countries. During his tenure, he will work along with other Practice Managers, Global Leads as well as the Global Solutions Groups to incubate, pilot and scale-up innovative and high-quality development solutions.

Important takeaways for all competitive exams:

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


6. Indian hockey legend Balbir Singh Dosanjh passes away

Former Indian hockey player Balbir Singh Dosanjh who was a part of three-time Olympic gold medal-winning Indian hockey team, i.e. in London Olympics (1948), Helsinki Olympics (1952), and Melbourne Olympics (1956), passed away. Balbir Singh Dosanjh was the only Indian among 16 legends who were chosen by the International Olympic Committee across modern Olympic history. He has also an unbeaten record of scoring most goals by an individual in the men’s hockey final of the Olympics, under his name.

7. Australian tennis star Ashley Cooper passes away

Australian tennis star Ashley Cooper passed away. His career concluded in 1959 after suffering from a back injury. He won four Grand Slam singles titles including the Australian, Wimbledon and U.S. championships in 1958. He was also the administrator of the game for a long period.


8. Spanish football player Aritz Aduriz announces retirement

Spanish football player and Athletic Bilbao striker Aritz Aduriz has announced his retirement citing medical reasons. He has won 13 caps for Spain and also become the Spain’s oldest goalscorer in 2016, scoring at the age of 35 years and 275 days. He has scored 141 goals in 296 appearances for Bilbao and has also represented Real Valladolid, Real Mallorca and Valencia.

Important Days

9. World Turtle Day celebrated on 23 May

World Turtle Day is being celebrated every year on 23 May every year by American Tortoise Rescue, a nonprofit organization. The day was created as an annual observance to help people celebrate and protect turtles and tortoises as well as their disappearing habitats around the world.

Important takeaways for all competitive exams:

  • Founders of American Tortoise Rescue: Susan Tellem and Marshall Thompson.
  • American Tortoise Rescue is located in Malibu, California.
  • American Tortoise Rescue was founded in 1990.

10. International Day to End Obstetric Fistula observed on 23 May

The United Nations observes International Day to End Obstetric Fistula on 23 May every year. The day is being observed to significantly raise awareness and intensify actions towards ending obstetric fistula, as well as urging post-surgery follow-up and tracking of fistula patients. The theme for International Day to End Obstetric Fistula 2020 is “End gender inequality! End health inequities! End Fistula now!”.

Important takeaways for all competitive exams:

  • Secretary-General of United Nations: António Guterres.

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