Daily Current Affairs – 16 May 2020

Current Affairs 16 May 2020

Daily Current Affairs 16 May 2020: We have collected the latest current affairs for 16 May 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


M/o Tribal Affairs Launches ‘Goal’ programme in partnership with Facebook for Digital Skilling of Tribal Youth across India

  • The Ministry of Tribal Affairs (MoTA) has launched “GOAL (Going Online As Leaders)” programme in partnership with Facebook, to upskill and empower 5,000 tribal youths in the country through digital mode.
  • The initiative was launched by Union Minister for Tribal Affairs Shri Arjun Munda at a Webinar in New Delhi on 15 May 2020.
  • Under the GOAL programme, tribal youth will be provided mentorship to explore their hidden talents, which will help in their personal development as well as contribute to all-round upliftment of their society.
  • The program will enable Scheduled Tribe (ST) youth in remote areas to use digital platforms for sharing their aspirations, dreams and talent with their mentors.

Piyush Goyal Participates in Second Extraordinary G20 Virtual Trade and Investment Ministerial Meeting on COVID-19

  • The Second Extraordinary G20 Virtual Trade and Investment Ministerial Meeting on COVID-19 was held on 14 May 2020 under the Presidency of Saudi Arabia.
  • The meeting will be chaired by the Saudi Minister of Commerce, Majid Al Qasabi, in the presence of the Minister of Investment, Khalid Al-Faleh.
  • The Indian delegation was represented by the Union Commerce and Industry Minister Piyush Goyal.
  • Purpose of the meet was to discuss the “G20 Actions to Support World Trade and Investment through the COVID-19 Pandemic” developed by the Trade and Investment Working Group (TIWG).
  • These designed actions aim to alleviate the impact of the pandemic in the short run, support the reform of the multilateral trading system, build resilience in global supply chains; and strengthen international investment over the long run.

S Jaishankar Participates in SCO Foreign Ministers’ Meet on COVID-19

  • The Union Minister of External Affairs, S Jaishankar participated in an extraordinary meeting of the Foreign Ministers of the eight member Shanghai Cooperation Organisation (SCO) on 13 May 2020, via video conference.
  • During the conference, the eight countries discussed sharing of information on best practices on containing COVID-19, particularly in the medicine, medical equipment, and pharmaceutical sector.
  • The conference was held under the Presidency of Russian Finance Minster Sergey Lavrov.
  • The SCO Summit 2020 is scheduled to be held in St Petersburg in Russia in July 2020.

Dr Harsh Vardhan Attends 32nd Commonwealth Health Ministers’ meeting through video conferencing

  • The 32nd Commonwealth Health Ministers’ Meeting was organised on 14 May 2020 through Video-conference mode.
  • Union Health Minister Dr Harsh Vardhan represented India in the conference.
  • The theme of the meeting was: Delivering a co-ordinated Commonwealth COVID-19 response.

International News


WTO Chief Roberto Azevedo to Step Down a Year Ahead

  • Roberto Azevedo, the head of the Geneva-based World Trade Organization (WTO), has announced his plan to step down from the post a year ahead, on 31 August 2020.
  • The 62-year-old Brazilian has been director-general since 2013.
  • He is serving a second term that was due to conclude at the end of August 2021.

Banking & Finance


FM announces 3rd tranche of economic support under the Aatma Nirbhar Bharat Abhiyaan

In continuation to PM Modi’s announcement of Rs 20 lakh crore boost to the economy, and the announcement made by her on May 13, 2020 and May 14, 2020  the Finance Minister of India, Smt. Nirmala Sitharaman has made the announcement of the third tranche of economic support the Indian Economy’s fight against COVID-19. These are the announcements made on May 15, 2020.

The announcement focusses on Infrastructure Logistics, Capacity Building, Governance and Administrative Reforms for Agriculture, Fisheries and Food Processing Sectors.

PART 1: Measures to strengthen Infrastructure Logistics and Capacity Building for Agriculture, Fisheries and Food Processing Sectors

  1. Rs 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers- Financing facility of Rs. 1,00,000 crore will be provided for funding Agriculture Infrastructure Projects at farm-gate & aggregation points
  2. Rs 10,000 crore scheme for Formalisation of Micro Food Enterprises (MFE)- a new scheme will be launched to help 2 lakh MFEs who need technical up-gradation to attain FSSAI food standards, build brands and marketing.
  3. Rs 20,000 crore for fisherman through Pradhan Mantri Matsya Sampada Yojana (PMMSY)- The Government will launch the PMMSY for integrated, sustainable, inclusive development of marine and inland fisheries. Rs 11,000 crore for activities in Marine, Inland fisheries and Aquaculture and Rs. 9000 crore for Infrastructure – Fishing Harbours, Cold chain, Markets etc shall be provided.
  4. Launch of National Animal Disease Control Programme- National Animal Disease Control Programme for Foot and Mouth Disease (FMD) and Brucellosis launched with total outlay of Rs. 13,343 crore to ensure 100% vaccination of cattle, buffalo, sheep, goat and pig population (total 53 crore animals) for Foot and Mouth Disease (FMD) and for brucellosis. Till date, 1.5 crore cows & buffaloes tagged and vaccinated.
  5. Animal Husbandry Infrastructure Development Fund – Rs. 15,000 crore- An Animal Husbandry Infrastructure Development Fund of Rs. 15,000 crore will be set up, with an aim to support private investment in Dairy Processing, value addition and cattle feed infrastructure.
  6. Promotion of Herbal Cultivation: Outlay of Rs. 4,000 crore- The National Medicinal Plants Board (NMPB) has supported 2.25 lakh hectare area under cultivation of medicinal plants. 10,00,000 hectare will be covered under Herbal cultivation in next two years with outlay of Rs. 4,000 crore.
  7. Beekeeping initiatives – Rs 500 crore- Government will implement a scheme for Infrastructure development related to Integrated Beekeeping Development Centres, Collection, Marketing and Storage Centres, Post Harvest & value Addition facilities etc.
  8. From ‘TOP’ to TOTAL – Rs 500 crore- “Operation Greens” run by Ministry of Food Processing Industries (MOFPI) will be extended from tomatoes, onion and potatoes to ALL fruit and vegetables. The Scheme would provide 50% subsidy on transportation from surplus to deficient markets, 50% subsidy on storage, including cold storages and will be launched as pilot for the next 6 months and will be extended and expanded.

PART 2: Measures for Governance and Administrative Reforms for Agriculture Sector

  1. Amendments to Essential Commodities Act to enable better price realisation for farmers- The Government will amend Essential Commodities Act. Agriculture food stuffs including cereals, edible oils, oilseeds, pulses, onions and potato shall be deregulated.
  2. Agriculture Marketing Reforms to provide marketing choices to farmers- A Central law will be formulated to provide adequate choices to the farmer to sell their produce at a remunerative price; barrier-free Inter-State Trade; a framework for e-trading of agriculture produce.
  3. Agriculture Produce Pricing and Quality Assurance- The Government will finalise a facilitative legal framework to enable farmers to engage with processors, aggregators, large retailers, exporters etc. in a fair and transparent manner.

World Bank Approves USD1 billion Social Protection Package for India

  • The World Bank has approved USD 1 billion aid, under ‘Accelerating India’s COVID-19 Social Protection Response Program’, to support India’s efforts for providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic.
  • The new USD 1 billion support will be funded in two phases:
    • Allocation of $750 million in first tranche for fiscal year 2020. Of this, $ 550 million will be financed by International Development Association (IDA) and USD 200 million will be a loan from the International Bank for Reconstruction and Development (IBRD).
    • The remaining $250 million second tranche will be made available for fiscal year 2021.
  • The Phase I of the operation will be implemented countrywide through the Pradhan Mantri Garib Kalyan Yojana (PMGKY).
  • With this, the total commitment from the World Bank towards emergency Covid-19 response in India reaches to $2 billion.
  • Earlier in April 2020, World Bank announced $1 billion support for India’s health sector.

MoneyGram Ties up with Federal Bank to offer direct-to-account deposits in India

  • MoneyGram Payment Systems, a global leader in cross-border peer-to-peer payments and money transfers has entered into strategic partnership with the private sector Federal Bank to offer cost-effective direct-to-bank-account credit option for customers in India.
  • This partnership will help the non-resident Indians (NRIs) to enjoy a modern, low cost, fast, easy and more reliable way of transferring money to India.

Important Days


International Day of Families: 15 May

  • The International Day of Families is observed every year on 15 May to reflect the importance that the international community attaches to families.
  • The Day was proclaimed by the UN General Assembly in 1993.
  • The theme of 2020 is “Families in Development: Copenhagen & Beijing + 25”.
  • The 2020 theme highlights the 25th anniversary of Copenhagen Declaration and Beijing Platform for Action.
  • In 1995, the conference of Beijing and Copenhagen proposed the importance of family and its role in our social development and agreed to specify its worldwide observance as an initiative for the well-being of all individuals in the family.

Endangered Species Day 2020: 15 May

  • The Endangered Species Day is observed on the third Friday of May to raise awareness about endangered species and how to protect them.
  • In 2020, the day falls on May 15. 
  • The day was proposed by National Wildlife Federation, United States’ largest private, nonprofit conservation education and advocacy organization.
  • An endangered species is a species that is very likely to become extinct in the near future, either worldwide or in a particular region due to various risk factors such as habitat loss, poaching and invasive species.

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