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Current Affairs 07 February 2020

RBI to Begin 2020 Financial Literacy Week from February 10

Reserve Bank of India (RBI) will be organizing Financial Literacy Week (FLW) from February 10 to February 14, 2020.
The theme for 2020 FLW is “Micro, Small and Medium Enterprises (MSMEs),”
RBI conducts Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme every year across the country, through a focused campaign.

Haryana CM Launches Rs 1500 Crore Mukhya Mantri Parivar Samridhi Yojna

Haryana Chief Minister Manohar Lal Khattar officially launched the welfare scheme for poor families titled ‘Mukhya Mantri Parivar Samridhi Yojna, announced by the government in 2019’.
Under the scheme, an annual assistance of Rs 6,000, in three equal installment of Rs 2000 each, will be provided to families having an annual income below Rs 1.80 lakh and land holdings up to five acres.
Only those beneficiaries having ‘Parivar Pehchan Patra’ (family identification cards) can avail the benefits under the scheme.
The state government has made budgetary provision of Rs 1500 crore under this scheme for the current fiscal.
CM Khattar formally transferred the amount into the bank accounts of the beneficiary families for two equal installments of Rs 2000 each, (total of Rs 4000) on 7 February 2020. The third installment of Rs 2000 would be transferred in the month of March 2020.

India’s First Glass Floor Suspension Bridge to Come up in Uttarakhand’s Rishikesh

The Uttarakhand Government has approved the design of a glass floor suspension bridge, the first of its kind in the country, which will be built across the River Ganga in Rishikesh.
The bridge is as an alternative to the iconic Lakshman Jhula, almost 94 years old, which was closed in 2019 due to safety reasons
The bridge design has been prepared by the Public Works Department (PWD), and is the first of its kind in India to have a floor made of toughened transparent glass.

Key Features of the Bridge

The bridge will be built parallel to Lakshman Jhula, with a total width of 8 metres.
It will consist of two toughened glass floors each with a width of 1.5 metres and as many 2.5-metre asphalt roads in between meant for light motor vehicles like two-wheelers.
The toughened glass floor will be 3.5 inches thick with the capacity of bearing a load of more than 750 kg per square metre at a stretch.
The span of the bridge will be 132.3 metres long with seven feet high toughened glass railings on either side of the structure.
The life span of the bridge will be at least 150 years.

India Bypasses Japan to Become Second Largest Steel Producer of Crude Steel

India has replaced Japan to become the second largest steel producer of crude steel in the world in the year 2018 and 2019, as per the data by World Steel Association.
China was the top producer country while Japan ranks third globally.
As per the data, India’s crude steel production in 2018 was at 109.3 million tonnes, up by 7.7 percent from 101.5 million tonnes in 2017. Similarly, in 2019, the production went up to 111.2 million tonnes.
On the other hand, Japan’s crude oil production was 104.3 million tonnes in 2018 and 99.3 million tonnes in 2019.

Top 5 Crude steel producers in the world for 2018, 2019

Rank 2018	Country	Qty (mt)	Rank 2019	Country	Qty (mt)
1	China	920.0	1	China	996.3
2	India	109.3	2	India	111.2
3	Japan	104.3	3	Japan	99.3
4	USA	86.6	4	USA	87.9
5	South Korea	72.5	5	Russia	71.6

First India-Central Asia Business Council Meeting Held in New Delhi

The first ever India-Central Asia Business Council meeting was launched in New Delhi on 6th February 2020.
The programme was organised by Federation of Indian Chambers of Commerce and Industry (FICCI).
From India, External Affairs Minister S Jaishankar addressed the meeting.
The aim of the meeting was to bring together business chambers of India and all five Central Asian states, namely Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan to collaborate and strengthen trade and investment partnership.
Extra: Central Asia consist of five independent republics, Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan and Tajikistan.

India Signs First Term Contract to Import Crude Oil From Russia

State-owned Indian Oil Corp has signed a deal with Russian oil and gas company Rosneft for the annual purchase of 2 million metric tonnes of crude oil
This is the first ever annual oil purchase deal between India and Russia.
Under the deal India will import up to 2 million tonne of Urals grade crude oil from Rosneft of Russia.
India is world’s third largest energy consumer. It is 83 percent dependent on imports to meet its oil needs.
Two-thirds of the imports come from the Middle East, with Iraq being the biggest supplier followed by Saudi Arabia.
The agreement with Russia is step by India to diversify its sources away from the volatile Middle East.

World Bank Chief Economist Pinelopi Koujianou Goldberg Announces Resignation

World Bank Chief Eeconomist Pinelopi Koujianou Goldberg has announced to step down from the post with effect from 1st March 2020.
She is resigning to return to teaching at Yale University and create opportunities for the poor young talented economists to the bank.
The World Bank President David Malpass has announced that the organisation’s research director Aart Kraay would take over as the Chief Economist in place of Goldberg until a new permanent chief economist is hired.

Jeff Weiner Resigns as CEO of Microsoft-Owned LinkedIn

Jeff Weiner has recently resigned as the Chief Executive Officer (CEO) of Microsoft-owned LinkedIn.
He had served at the post for the past 11 years.
Jeff Weiner will become Executive Chairman of the company, while Ryan Roslansky who is currently the senior vice-president of product, will become CEO with effect from 1st June 2020.
LinkedIn is a business and employment-oriented service that operates via websites and mobile apps.

SAI & Hockey India to Launch 7 High Performance Centres Across the Country

Sports Authority of India (SAI) and Hockey India have decided to establish High Performance Centres in seven places across the country to provide state-of-the-art facilities to Junior and Sub-Junior players.
The move is taken in view of 2024 and 2028 Olympic Games, so as to groom the young talent.
Among these, the National Hockey Academy at Dhyan Chand National Stadium, New Delhi, SAI at Sundergarh, Bhopal and Bengaluru will be active within the next three months.
The remaining 4 centres will be developed over the next one year and includes SAI, Takyel, Imphal in Manipur, Balewadi Sports Complex, Pune in Maharashtra, SAI Centre, Ranchi and Gomke Jaipal Singh Astroturf Hockey Stadium.
These seven centres will be set up under the Khelo India scheme. It will have expert professional training, utilization of sports science and education of the youngsters.
The SAI Centre Bengaluru will remain as the main site for the senior and junior national teams.

Veteran Cricket Journalist And Film Historian Raju Bharatan Passes Away At 86

Renowned film historian and noted cricket journalist Raju Bharatan passed away following a prolonged illness.
He was 86.
Raju Bharatan, who wrote on Indian cricketand Bollywood music, worked for a weekly features magazine, The Illustrated Weekly of India, and an Indian films weekly newspaper, Screen.

Daily Current Affairs – 07 February 2020