Daily Current Affairs 16th July 2020| Civilsonlined

Daily Current Affairs 16th July 2020

           

International Events

      ·         First container ship from Kolkata Port to Agartala

§  Union Minister of State for Shipping (I/C) Shri Mansukh Mandaviya flagged off the first trial container ship from Kolkata to Agartala through Chattogram Port of Bangladesh, in a virtual ceremony.

§  This has been done under the Agreement on use of Chattogram and Mongla Ports for movement of India’s transit cargo through Bangladesh.

§  It will provide the alternative and shorter route to connect the North East Region through Bangladesh.

§  The consignment of the trial movement includes two TEUs carrying TMT steel bars destined for West Tripura district and two TEUs carrying pulses destined for Karimganj, Assam. After reaching Chattogram, the consignment will move to Agartala on Bangladeshi trucks.   

Advantages:        

§  It will reduce distance and time taken in the transportation of goods for India and is a win-win for both the economies.

§  Job creation, investment in the logistical sector, enhanced business services and revenue generation are advantages that will accrue to Bangladesh. Bangladeshi vessels and trucks will be utilized to move the Indian cargo

Source: PIB

·         ECOSOC

§  Prime Minister Narendra Modi will deliver a keynote address virtually at this year’s High-Level Segment of the United Nations Economic and Social Council session on Friday, 17th July 2020 at the United Nations in New York.

§  P M will be speaking at the valedictory session along with the Prime Minister of Norway and UN Secretary-General Antonio Guterres.

§  The annual High-level Segment convenes a diverse group of high-level representatives from the Government, the private sector, civil society and academia.

§  Theme:  "Multilateralism after COVID19: What kind of UN do we need at the 75th anniversary”.

Source: PIB

Economy

             ·         NTPC

§  NTPC Ltd has entered into an MoU with National Investment and Infrastructure Fund (NIIF), acting through National Investment and Infrastructure Fund Limited (NIIFL), to explore opportunities for investments in areas like renewable energy, power distribution among other areas of mutual interest in India.

§  NTPC is a central PSU under the Ministry of Power and Country’s largest power generation company

Source: PIB

·         Cochin Shipyard Limited

§  Cochin Shipyard Ltd (CSL), Kochi signed contracts for construction and supply of 2 Autonomous Electric Ferry for ASKO Maritime AS, Norway with an option to build 2 more identical vessels.

§  It is the world's first fully automatic electric vessel for ASKO Maritime, Norway

Source: PIB

·         Animal Husbandry Infrastructure Development Fund

§  Union Minister of Fisheries, Animal Husbandry and Dairying Shri Giriraj Singh launched the Implementation Guidelines for Animal Husbandry Infrastructure Development Fund (AHIDF) worth Rs. 15,000 crores, which was approved by the Union Cabinet under the Atma Nirbhar Bharat Abhiyaan

§   India is producing milk of 188 million tonnes and by 2024 the milk production is expected to rise up to 330 million tons.

§   Only 20-25% milk is coming under processing sector and the Government is trying to bring the same up to 40%.

§  AHIDF is the first type of scheme for the private sector.

§   The AHIDF has been set up as MSMEs and Private companies also need to be promoted and incentivized for their involvement in processing and value addition infrastructure.

§  The eligible beneficiaries: Farmer Producer Organizations (FPOs), MSMEs, Section 8 Companies, Private Companies and individual entrepreneurs with a minimum 10% margin money contribution by them. The balance 90% would be the loan component to be made available by scheduled banks.

§  Government of India will provide 3% interest subvention to eligible beneficiaries.

§  There will be 2 years moratorium period for the principal loan amount and 6 years repayment period thereafter.

§  Government of India would also set up a Credit Guarantee Fund of Rs. 750 crore to be managed by NABARD.

§  Credit guarantee would be provided to those sanctioned projects which are covered under MSME

§   Guarantee Coverage would be up to 25% of Credit facility

§  The beneficiaries can apply for loan in the scheduled bank through “Udyami Mitra” portal of SIDBI. 

§  The measures approved through AHIDF would also help in direct and indirect livelihood creation for 35 lakh persons

Source: PIB

Appointments

·         SBI Cards' MD, CEO Hardayal Prasad resigns, Ashwini Tewari to take charge