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Current Affairs 03 June 2020
Daily Current Affairs 03 June 2020: We have collected the latest current affairs for 03 June 2020 that are important for all competitive exams like Bank, SSC, IBPS, SBI exams. The GK current affairs will help you score more in these competitive exams. Improve your general knowledge with our daily online current affairs. You can also read the daily current affairs on our mobile app.
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National News
Centre Launches PM SVANIDHI scheme to provide affordable loans to street vendors
- The Ministry of Housing and Urban Affairs has launched PM SVANIDHI (Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi) scheme, which is a special micro-credit facility scheme for providing affordable loan to street vendors, to help them to resume their livelihoods that have been adversely affected due to COVID-19 lockdown.
- The scheme is as per the announcement by Finance Minister Nirmala Sitharaman on May 14 under the Aatmanirbhar Bharat economic package.
Key Features of PM SVANIDHI Scheme
- Targets to benefit over 50 lakh street vendors, who had been vending on or before 24th March 2020, in urban areas.
- The scheme is valid until March 2022 and will provide total liquidity of Rs 5,000 crore.
- Vendors can avail a working capital loan of upto Rs 10,000 to be repayable in monthly instalments in the tenure of one year.
- An interest subsidy at the rate of 7 percent per annum will be credited to the bank accounts of beneficiaries on timely and early repayment of the loan, through Direct Benefit Transfer on six monthly basis.
- SIDBI will be the technical partner for implementation of the scheme.
- Credit guarantee to the lending institutions will be managed through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
- The lending institutions under the Scheme include Scheduled Commercial Banks, Regional Rural Banks, Small Finance Banks, Cooperative Banks, NBFCs, Micro Finance institutions and Self Help Group banks.
PM Modi Launches Technology Platform CHAMPIONS to empower MSMEs
- On 01 June 2020, Prime Minister Shri Narendra Modi launched a portal called CHAMPIONS in an effort to empower the MSME sector.
- The technology platform CHAMPIONS stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.
- The portal is a one-stop-shop solution of MSME Ministry, which aims at making the smaller units big by solving their grievances, encouraging, supporting, helping and handholding.
PM Modi constitutes committee headed by Rajnath Singh for implementing Rs 3 lakh crore collateral-free loan scheme for MSMEs
- Prime Minister Narendra Modi has appointed a committee to resolve any problem in the implementation of the Rs 3 lakh crore collateral-free loan scheme for MSMEs. The committee will be headed by Union Minister Rajnath Singh
- The Rs 3 lakh crore collateral-free loan scheme for MSMEs was announced by Finance Minister Nirmala Sitharaman as part of the overall Rs 20 lakh crore Covid-19 relief package to uplift the economy.
- The MSME units should have up to Rs 25 crore outstanding credit and Rs 100 crore turnover to apply for the loan scheme.
- The tenure of the loan will be 4-year with a moratorium of 12 months.
Total 20 States/UTs Included under One Nation One Card scheme till date
- As per the data by the Union Minister of Consumer Affairs, Food & Public Distribution Shri Ram Vilas Paswan, three more states namely Odisha, Sikkim and Mizoram joined the ‘Integrated Management of Public Distribution System’ (IM-PDS) on 01 June 2020.
- With this, now total 20 states and UTs are included under this scheme.
- Other states/UTs are: Andhra Pradesh, Bihar, Dadra & Nagar Haveli and Daman & Diu, Goa, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Kerala, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Punjab, Telangana, Tripura and Uttar Pradesh.
- It is also likely that by August 2020 three more States namely Uttarakhand, Nagaland and Manipur will also be added to the national cluster.
- Governments aims to add all the states to One Nation One Ration Card scheme by 31st March 2021 so that the scheme will be operational all over India.
- Under the IM-PDS initiative, eligible beneficiaries would be able to avail their entitled foodgrains under the National Food Security Act (NFSA) from any ePoS enabled Fair Price Shop of their choice anywhere in the country, using the same ration card.
DRDO develops disinfection unit “Ultra Swachh” to disinfect a wide range of materials including electronic items, fabrics
- The Defence Research and Development Organisation (DRDO) has developed a disinfection unit named ‘Ultra Swachh’ to disinfect a wide range of materials, including Personal Protective Equipment (PPEs), electronics items and fabrics.
- The unit has been developed by DRDO’s Delhi based laboratory, Institute of Nuclear Medicine & Allied Sciences (INMAS), with industry partner M/s Gel Craft Healthcare Private Ltd, Ghaziabad.
- Ultra Swachh is double-layered, with specialized Ozone sealant technology assuring trapping of Ozone for the necessary disinfection cycle.
Ranking News
Amazon tops Brand Finance Global 500 2020 report; Tata Group top Indian brand
- Brand Finance has released its annual Brand Value Report 5000 for the year 2020.
- It is for the third consecutive year that Amazon has retained the title of the world’s most valuable brand having brand valuation of $220,791 million.
- It is also made history by becoming the first brand in Brand Finance Global 500 to exceed US$200 billion value mark.
- Google has jumped one place up to come second in the list at $159,722 million. In 2019 it was at 3rd spot.
- Apple ($140,524M), Microsoft ($117,072M) and Samsung Group ($94,494M) makes top 5 brand in the list.
- Among Indian companies, Tata Group has once again retained its position as top Indian brand. It is the only Indian brand to feature in top 100.
- Globally, it is ranked at 85th spot with brand value of USD 20 billion, becoming the first Indian brand to cross this mark. Top 10 Indian Brands in the list.
India Drops 6 Places to be Ranked 23rd in StartupBlink’s Startup Ecosystem Rankings 2020, United States Tops
- StartupBlink has launched the Startup Ecosystem Rankings Report 2020 that ranks 1,000 cities and 100 countries worldwide, based on their startup ecosystem strength and activity level. StartupBlink is global startup ecosystem map and research center.
- India has dropped 6 places to be ranked at 23rd spot in the latest ranking, with a score of 5.698. Last year it was placed at 17th spot.
- United States has topped the ranking list with a score of 123.167.
- United Kingdom, Israel, Canada and Germany are the top 5 countries in the list respectively.
- The ranking is based upon three key factors: Quantity, Quality and Business Environment.
- In terms of cities, only 4 Indian cities made place in top 100, compared to 7 cities in 2019.
- India’s Silicon Valley Bengaluru is the top Indian city with best startup ecosystems ranking, although it dropped three places to have the 14th rank in the list, Delhi climbed three spots to the 15th rank, Mumbai held the 22nd rank and Hyderabad lost 21 spots to be ranked 96th.
- Globally, San Francisco Bay, United States, New York, United States and London, United Kingdom are the tp three cities with best startup ecosystems.
Banking News
SBI creates separate business vertical for financial inclusion, agri biz
- State Bank of India has created a new and separate business vertical to focus on financial inclusion and micro-markets (FI&MM).
- Under FI&MM, State Bank will offer loans predominantly for agriculture & allied activities, and micro/small enterprises and vastly improve the customer experience for the citizens.
RBI extends tenure of Subramanian Sundar as MD & CEO of Lakshmi Vilas Bank for another 6 months
- The Reserve Bank of India (RBI) has approved the extension of the tenure of Subramanian Sundar as the MD and CEO of the Lakshmi Vilas Bank, for a period of another six months.
- Now he will continue his tenure till November 30, 2020 or till the appointment of the new CEO, whichever is earlier.
- This is the second extension given to Mr. Sundar. He was appointed as the MD & CEO (interim) from January 1, 2020 to April 30.
- His tenure was further extended to May 31, 2020.
Important Days
World Bicycle Day: 03 June
- Every year the International World Bicycle Day is observed on 3rd June to recognise the uniqueness, longevity and versatility of the Bicycle as a simple, affordable, reliable, clean and environmentally fit sustainable means of transport.
- The day was declared by the United Nations General Assembly in April 2018.
Obituary
Former Indian Archer-turned-Coach Jayantilal Nanoma Passes away at 34
- Former international archer turned coach Jayantilal Nanoma passed away in a road mishap when his SUV met with an accident in Rajasthan. He was 34.
- Nanoma was an Asian Cup and Asian Grand Prix medallist in compound individual and team archery in 2010.
- He was a recipient of the prestigious Maharan Pratap State Sports Award.
Former Tamil Nadu BJP Chief KN Lakshmanan Passes Away at 90
- Former Tamil Nadu BJP President K. N.Lakshmanan passed away due to age related ailments at the age of 90.
- He was elected as a member of the Tamil Nadu Legislative Assembly in 2001 from the Mylapore constituency when BJP had aligned with the DMK.
- Lakshmanan served as BJP’s State President between 1984 and 1989 and 1996 and 2000.