Current Affairs in English Medium: 29th May, 2020 || UPSC, TNPSC, SSC, RRB & IBPS

CIPET renamed as Central Institute of Petrochemicals Engineering &Technology
Central Institute of Plastics Engineering & Technology (CIPET) has been renamed as Central Institute of Petrochemicals Engineering & Technology (CIPET), a premier national institution under the Ministry of Chemicals and Fertilizers, Govt. of India. The changed name has been registered under the Tamil Nadu Societies Registration Act 1975 ( Tamil Nadu Act 27 of 1975). Union Minister for Chemicals and Fertilizers DV Sadananda Gowda has said  that now CIPET will be in a position to fully devote itself  for the growth of entire petrochemical sector with a focus on Academics, Skilling, Technology Support and Research. The primary objective of CIPET has been contributing towards the growth of the plastics industry through a combined program of education and research. The Institute has evolved through the years, creating closer ties with industries with the intent to create innovative plastic based solutions which are resource efficient and marketable

Government withdrew 7.75% Savings (Taxable) Bonds scheme due to declining interest rates
The government has decided to withdraw 7.75 per cent Savings (Taxable) Bonds scheme from the close of banking business on Thursday due to declining interest rates. The scheme, commonly known as RBI Bonds or GOI bonds, is popular among retail investors who looking for safety of principal and a regular income. NRIs, however, are not eligible for making investments in these bonds.
"The Government of India, hereby notifies that the 7.75 per cent Savings (Taxable) Bonds, 2018 shall cease for subscription with effect from the close of banking business on 28th of May, 2020

Brazil’s Marcos Prado Troyjo elected as new President of NDB; SBI’s Anil Kishora vice-prez
The New Development Bank of the BRICS countries on Wednesday appointed Marcos Prado Troyjo, who served as Brazil's Economy Minister, as the new president of the Shanghai-based bank. He will replace eminent Indian banker K V Kamath who took over as the first president of the bank in 2015. The Board also appointed Anil Kishora, of the State Bank Of India (SBI), as the vice president of the NDB to assist the emerging economies in infrastructure development loans

IOC appoints Narinder Batra as member of Olympic Channel Commission
Indian Olympic Association (IOA) president Narinder Batra has been appointed as a member of the Olympic Channel Commission. In a letter to International Olympic Committee president Thomas Bach, Mr. Batra, who had become an IOC member in June last year, expressed his gratitude after being selected for the role

IAF operationalised its 2nd squadron No. 18 ‘Flying Bullets’ with the indigenous LCA Teja Mk-1 Final Operational Clearance
The Indian Air Force (IAF) formally inducted into service the first Light Combat Aircraft (LCA) Tejas Mk-1 in Final Operational Clearance (FOC) standard on Wednesday, and operationalised its second LCA squadron No. 18 ‘Flying Bullets’. Chief of the Air Staff, Air Chief Marshal (ACM) R.K.S. Bhadauria, received the first FOC standard LCA from Hindustan Aeronautics Limited (HAL) in a function held at Air Force Station, Sulur near Coimbatore, in Tamil Nadu.

ISRO receives patent for highland soil simulant for future lunar missions
Indian Space Research Organisation (Isro) has received a patent for its method of manufacturing highland lunar soil simulant. The simulant is made in bulk from similar rock samples identified and picked out from Sittampundi Anorthosite Complex, almost 67 km from Salem, in Tamil Nadu. 
The procedure has satisfied all aspects such as mineralogy, bulk chemistry, grain size distribution and geo-mechanical properties. The method used for preparing the lunar simulant is cost-effective, reproducible and easy to scale up, said the patent specification filed by the Space Agency.

World Hunger Day Observed on May 28
As we observe the World Hunger Day on May 28 amidst the pandemic’s onslaught, it is time to revisit the structural challenges behind this human crisis. According to the United Nations website, till 2015 the number of people suffering from hunger was falling consistently and has only risen after the passage of that period. Nearly 135 million people also face chronic hunger owing to calamities caused by armed conflict and climate change. The World Food Programme predicts the current statistic of 135 million could go up by another 130 million by the time 2020 ends, due to the coronavirus pandemic.

Ladakh: Kargil's first Solar Lift Irrigation Plant inaugurated
AIR PicIn Ladakh, Director of Animal, Sheep Husbandry and Fisheries Dr Mohammad Raza inaugurated the first Solar Lift Irrigation Plant of Kargil with five KW Solar Plant and three HP Submersible Pump at Yak Breeding Farm, Bodh Kharboo keeping in view the protocols of social distancing and Standard Operating Procedures. Appreciating the initiative of Chief Animal Husbandry Officer Kargil Dr Fida Hussain and Project Director Kargil Renewable Energy Agency (KREDA) Kacho Ahmad Khan, Dr Raza said that this prototype will help others to solve the shortage of water to irrigate, particularly those lands which are at the banks of river. It will also help in solve the drinking water issue as well. He also directed Project Director, KREDA to install another three HP Pump at the same location.

672 million children will be trapped in to poverty by the end of 2020 due to COVID-19 Impact: UNICEF report
The number of children living in poor households across low and middle-income countries could increase by 86 million to reach 672 million by the end of 2020 due to the economic fallout of the coronavirus pandemic, according to a new study. The deadly virus has so far infected 5,695,290 people and claimed 355,692 lives globally, according to a tally by the Johns Hopkins University. “The economic fallout of the COVID-19 pandemic could push up to 86 million more children into household poverty by the end of 2020, an increase of 15 per cent,” said the study conducted jointly by the UNICEF and humanitarian organisation Save the Children.

Asian Development Bank & India signs USD 177 million loan for road improvements in Maharashtra
Asian Development Bank, India sign USD 177 million loan for state road improvements in Maharashtra. New Delhi, May 28 (UNI) The Asian Development Bank (ADB) and the Centre on Thursday signed a USD 177 million loan to upgrade 450 kilometers of state highways and major district roads in the state of Maharashtra.

India’s GDP growth to contract 5% in FY21: S&P Global Ratings
S&P Global Ratings on Thursday said the Indian economy will shrink by 5 per cent in the current fiscal as it joined a chorus of international agencies that are forecasting a contraction in growth rate due to coronavirus lockdown halting economic activity. Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic.

HIL(India) to supply 25 tonnes of pesticides to Iran to control locust invasion
"HIL is now in the process of production and supply of 25 tonnes Malathion Technical for supply to locust control program to Iran under Government to Government arrangement," an official statement said, Business Insider reported. The Indian External Affairs Ministry has approached HIL for the manufacturing and supply of this commodity to Iran. Despite logistics and other challenges posed by COVID-19 lockdown, HIL (India) Ltd, a PSU under the Ministry of Chemicals and Fertilizers, ensured timely production and supply of pesticides for the farming community

{ Source: News on Air | Business Standard | Economic Times | Financial Express | The Hindu }

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