Current Affairs 02 September 2020
Daily Current Affairs 02 September 2020: This post contains the latest current affairs for 02 September 2020 that are important for all competitive exams like Bank, SSC, IBPS, SBI exams. You can improve your general knowledge with our daily online current affairs. You can also read the daily current affairs on our mobile app.
National News
Centre launches pan-India GTAM in electricity to make Indian Power Market go Green
- The Minister of State (IC) Power and New & Renewable Energy & Minister of State (Skill Development and Entrepreneurship), Shri R. K. Singh, launched pan-India Green Term Ahead Market (GTAM) in electricity through video conference in New Delhi on 01 September 2020.
- The GTAM platform is the first Exclusive product for the renewable energy sector in the world and is a step towards Greening the Indian short term power Market.
- The market would bring down the burden on Renewable Energy (RE) rich States and incentivize them to develop RE capacity beyond their own Renewable Purchase Obligations (RPO).
- Green Term Ahead Market contracts will allow additional avenues to the RE generators for the sale of renewable energy; enable Obligated entities to procure renewable power at competitive prices to meet their RPO and provide a platform to environmentally conscious open access consumers and utilities to buy green power.
- This initiative will also help the Government of India to achieve its target of 175 GW RE Capacity by 2022.
India, Japan, Australia to launch trilateral Supply Chain Resilience Initiative in Indo-Pacific region
- The trade ministers of India-Japan-Australia held a trilateral meeting on 01 September through videoconferencing to plan on launching a trilateral Supply Chain Resilience Initiative (SCRI) for building a resilient supply chain in the Indo-Pacific region.
- The main motive of the trilateral Supply Chain Resilience Initiative (SCRI) is to reduce dependency on China and create a free and transparent trade & investment environment.
- The virtual meeting was addressed by Australia’s Minister for Trade, Tourism and Investment, Senator Simon Birmingham, India’s Minister of Commerce and Industry Piyush Goyal, and Japan’s Minister of Economy, Trade and Industry, Kajiyama Hiroshi.
- The initiative was first proposed by Japan. The new initiative is expected to be launched by 2020 end.
- The ministers have called on other countries in the region with similar views to join the initiative.
India Targets 100 MT Coal Gasification By 2030
- The Government of India has set the target to achieve 100 million tonnes (MT) coal gasification by the year 2030.
- This will be achieved with an estimated investments of over Rs. 4 lakh crores.
- The announcement was made by Shri Pralhad Joshi, Union Minister of Coal and Mine, while addressing a webinar on Coal Gasification and Liquefaction on 31 August 2020.
MoD signs contracts worth Rs 2580 Cr with 3 Indian Companies to supply Pinaka Regiments to Indian Army
- The Acquisition Wing of Ministry of Defence (MoD) has signed contracts with three private companies, inlcuidng Bharat Earth Movers Ltd. (BEML), Tata Power Company Ltd. (TPCL) and Larsen & Toubro (L&T) for supply of Six Pinaka Regiments to the Regiment of Artillery of the Indian Army.
- This is a flagship project of the Government of India showcasing public private partnership and aims to further boost to the ‘Make in India’ initiative of Government of India in the Defence Sector and enable “Aatmnirbharta” in cutting edge Defence technologies.
- The approximate cost of this project is estimated at Rs. 2580 Crores. These Six Pinaka Regiments is planned to be completed by 2024.
- They will be operationalised along the Northern and Eastern Borders of the country.
- The Six Pinaka Regiments will comprise of:
- 114 Launchers with Automated Gun Aiming & Positioning System (AGAPS) and 45 Command Posts. These will be procured from TPCL and L&T.
- 330 Vehicles. They will be procured from BEML.
CSIR-CMERI develops World’s Largest Solar Tree with installed capacity of 11.5 kWp
- Durgapur, West Bengal based CSIR-CMERI (Central Mechanical Engineering Research Institute) has developed the World’s Largest Solar Tree, which has been installed at the residential colony of the institute.
- The installed capacity of the Solar Tree is above 11.5 kWp (kilowatts peak) on a daily basis. The solar tree has an annual capacity to generate 12,000-14,000 units of Clean and Green Power. There are a total of 35 Solar PV Panels in each tree with a capacity of 330 wp each.
- It has been designed in a manner to ensure maximum exposure of each Solar PV Panel to Sunlight and also creation of the least amount of shadow area beneath.
- Till date, the world’s largest solar tree was installed in Europe which is producing 8.6 kWp of energy daily.
Committee
MoD sets up a committee to review the AFHQ CS cadre; Head- Lt General D B Shekatkar
- The Ministry of Defence (MoD) has set up a three-member committee to review the effective utilisation of the Armed Forces Headquarters Civil Services (AFHQ CS) cadre.
- This step has been taken so as to enhance the military’s combat potential and also rebalance defence expenditure, by optimising the civil and military administrative appointments in the service headquarters.
- It can help save an expenditure of almost Rs 25,000 crore in defence expenditure over the next five years.
- The committee will be headed by Lt General D B Shekatkar (Retd.). The other two members are R Chandrashekhar, a retired AFHQ cadre officer and AN Das from the MoD finance wing.
Banking & Economy News
European Investment Bank announces 650 Million Euro for Kanpur Metro Project
- The Luxembourg based European Investment Bank (EIB) will invest EUR650 million for the construction of the first city metro line of Kanpur.
- Kanpur is the fifth metro rail project to receive EIB funds in India and also the second-biggest investment made by the EIB outside the European Union..
- This project is the second metro rail project supported by the EIB in Uttar Pradesh.
- Prior to this, EIB made EUR450 million investment for Lucknow metro rail system.
- The EU bank has also invested in metro rail systems in Bhopal, Pune, and Bangalore in India.
Scheme
Rajnath Singh Launches Life Insurance Scheme titled Chhavni COVID: Yodha Sanrakshan Yojana For Over 10,000 Cantonment Employees
- Defence Minister Rajnath Singh has launched a life insurance scheme named “Chhavni COVID: Yodha Sanrakshan Yojana”, for the employees working in cantonment areas across India.
- The Chhavni COVID: Yodha Sanrakshan Yojana is a group life insurance scheme that will provide a cover of Rs five lakhs each to more than 10,000 employees in all 62 cantonment boards, in the event of any unfortunate fatal calamity.
- The scheme will be implemented by the Life Insurance Corporation (LIC) of India.
- The scheme will include both permanent and contractual employees, including doctors, paramedics and sanitation staff.
- The launch took place on 01 September 2020, during a webinar attended by presidents, vice-presidents and chief executive officers of all 62 cantonment boards
Books and Authors
Karan Johar pens his first children’s book titled ‘The Big Thoughts of Little Luv’
- Bollywood filmmaker Karan Johar has announced his first children’s book titled ‘The Big Thoughts of Little Luv’.
- The book is inspired by his experience of parenting his twin children Yash and Roohi.
- The picture book looks at how we impose differences between girls and boys as we raise them and how the twins try to understand gender and how we treat boys and girls differently.
- The book will be published by Juggernaut Books.
- Johar became a single father to twins, Yash and Roohi through surrogacy in 2017.
Days
World Coconut Day: 02 September 2020
- World Coconut Day is observed on September 02 every year since 2009.
- It is observed to tell people about the benefits of the coconut fruit.
- The theme of World Coconut Day 2020 is ‘Invest in coconut to save the world’.
Obituary
Katyayani Shankar Bajpai, Doyen of Indian Foreign Policy, passes away at 92
- Former diplomat Katyayani Shankar Bajpai, who had been the ambassador in India’s three most important and challenging posts, has passed away at the age of 92.
- Bajpai served as India’s ambassador to the US, China, and Pakistan.
- He had also served as the Chairman National Security Advisory Board from 2008 to 2010
- Popularly known as Shankar Bajpai, he was the son of Girja Shankar Bajpai, first secretary-general of the Ministry of External Affairs.