Current Affairs Daily Digest – January 11 2020

1. Ministry of Steel to launch of Purvodaya, an Integrated Steel Hub

Ministry of steel in partnership with Confederation of Indian Industry (CII) and JPC is organizing the launch of Purvodaya-Accelerated Development of Eastern Region through an Integrated Steel hub on 11 January 2020 at The Oberoi Grand Kolkata, West Bengal. The hub will be launched by the Union Minister for Petroleum & Natural Gas and Steel Shri Dharmendra Pradhan.

2. Sultan Qaboos of Oman passed away

His Majesty Sultan Qaboos bin Said Al Said of Oman passed away on 10 January 2020. He was 79 years old. He was the Arab world’s longest-serving ruler. The cause of death has not been confirmed. His cousin and former culture and heritage minister Haitham bin Tariq Al Said have been sworn in as his successor.

3. Former parliamentarian Gopinath Gajapati Narayan Deo passed away

The former parliamentarian Gopinath Gajapati Narayan Deo passed away on 10 January 2020. He died due to prolonged illness. He was 76 years old. In 2017, the Odisha government announced that it would bear all expenses of his treatment. Gopinath Gajapati Narayan Deo: Narayan Deo was born on 6 March 1943. He had represented the Berhampur parliamentary constituency for two terms as a Congress member.

4. UP to set up a zoo named after Shaheed Ashfaqullah Khan

Uttar Pradesh State government is to set up a zoological garden in Gorakhpur, UP. The zoo is to be named after the socialist and freedom fighter Shaheed Ashfaqullah Khan.

The zoological garden will be spread across 121 acres in Gorakhpur. The state government has set aside Rs.234 crore to set up the zoological garden Ashfaqulla Khan: Khan was born on 22 October 1900 in Shahjahanpur, Uttar Pradesh.

5. AAI reported that 4 Indian airports received international recognition

The Airports Authority of India (AAI) has announced 4 airports in India have received international recognition for reducing carbon emission. The airports had adopted the grading system in 2018 as per ACI.

The four airports are:

1) Netaji Subhas Chandra Bose International Airport, Kolkata
2) Biju Patnaik International Airport, Bhubaneswar
3) Lal Bahadur Shastri International Airport, Varanasi
4) Trivandrum International Airport

6. National Youth Festival 2020 to be held in Lucknow

The 23rd National Youth Festival (NYF) 2020 has been scheduled to be held from 12-16 January at Indira Pratishthan, Lucknow. The festival will be jointly inaugurated by Chief Minister, Uttar Pradesh Yogi Adityanath and Minister of State (I/C) for Youth Affairs & Sports, Shri Kiren Rijiju.

7. India ranked fifth-biggest geopolitical risk of 2020 by Eurasia Group

Eurasia Group reported that India is one of the world’s top geopolitical risks for 2020. The political risk consultancy India under Prime Minister Narendra Modi was listed as the fifth biggest geopolitical risk of 2020.

8. Wings India 2020 to be held in Begumpet Airport

Wings India 2020 has been scheduled to be held at Begumpet Airport in Hyderabad from 12-15 March 2020. The event is expected to boost aviation. The event is organized by Ministry of Civil Aviation (MOCA) and Federation of Indian Chambers of Commerce & Industry (FICCI) to provide a congenial forum to the rapidly changing dynamics of the sector Wings India 2020.

9. GAIC launched imported water-soluble fertilizers in Gujarat

Gujarat Agro Industries Corporation (GAIC) launched imported water-soluble fertilizers in Ahmedabad. The move aims to encourage the use of high-grade agri-inputs in the state.

GAIC:

• GAIC promotes agro-based industries in Gujarat.
• It imported 300 tonnes of water-soluble fertilizers from China.
• In this move, the role of GAIC will be to import, pack and sell the imported water-soluble fertilizers to the farmers through its network of dealers across the State.
• The new-generation fertilizers/water-soluble fertilizers will be sold in the market under its brand ‘AGRO’.
• The water-soluble fertilizers that were launched include, AGRO NPK, AGRO CN, AGRO MKP, AGRO MAP, AGRO SOP, AGRO NOP.

10. Power Ministry released the 2019 State Energy Efficiency Index

Bureau of Energy Efficiency (BEE) in association with Alliance for Energy-Efficient Economy released the State Energy Efficiency Index 2019. The index used 97 significant indicators and tracked the progress of Energy Efficiency (EE) initiatives in 36 states and union territories (UTs). State Energy Efficiency Index 2019.

Karnataka, HP, Haryana and Puducherry were the best performers according to the report. Manipur, Jharkhand, Rajasthan and Jammu and Kashmir were the least performers.

11. IRDA imposes Rs 1 crore penalty on Cholamandalam MS General Insurance

The insurance regulator has imposed a penalty of 1 crore on Cholamandalam MS General Insurance after charging the company of paying money in advance to businesses in violation of corporate governance rules.

Insurance Regulatory and Development Authority (IRDA) said in a statement that it framed charges against Cholamandalam MS General Insurance in a case related to declaration of funds paid in advance to Ashok Leyland, Cholamandalam MS Risk Services and DHFL.

12. PayU buys PaySense for an equity valuation of $185 million

In an all cash deal, PayU, one of the leading payment and fintech company in India has decided to acquire significant majority equity stake in PaySense, one of the fastest growing digital credit platform for an equity value of $185 million.

13. Axis Mutual Fund launches ‘Axis All Seasons Debt Fund of Funds’

Axis Mutual Fund announced its new fund – ‘Axis All Seasons Debt Fund of Funds’. It is is an open-ended fund of funds scheme investing in debt-oriented mutual fund schemes. The All Season Debt FoF will invest in funds from across fund houses and across different categories of the debt market with an intention to generate optimal return over the medium term.

14. Flipkart former CEO Sachin Bansal acquires DHFL General Insurance for Rs 100 crore

Flipkart co-founder and former CEO Sachin Bansal has reportedly acquired DHFL General Insurance from Wadhawan Group Capital (WGC) for around Rs 100 crore. The deal is seen as a distress sale for Kapil Wadhawan-led financial services group, which used to run the debt-laden DHFL.

15. Sandip Soparrkar appointed as board of director for International Business School, Washington (IBSW)

The new year begins with a bang for renowned dancer choreographer Dr. Sandip Soparrkar as he has a new feather in his cap. The International Business School of Washington (IBSW) has appointed Dr. Soparrkar as a new Panel Member in board of Directors.

Working to promote young and upcoming artists for almost 20 years, Sandip is instrumental in bringing the classic Latin and Ballroom dances and other world dances to Indian shores. He has also been conducting workshops and giving speeches about the importance of art and dance in one’s life all over the world.