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Daily G.K. - Top Stories

22 Aug 2020

INTERNATIONAL AFFAIRS

Myanmar Govt. and Armed Groups Sign Framework Accord for Ceasefire Implementation

  • The government of Myanmar and ten armed ethnic groups signed a framework agreement for the implementation of the National Ceasefire Agreement (NCA) at the end of the 4th session of the Union Peace Conference - 21st Century Panglong. The agreement also includes the framework for implementation of various processes beyond 2020, and basic principles to establish a democratic federal union.
  • State Counsellor Aung San Suu Kyi said that the accord opens a door to solving misunderstanding regarding the NCA and difficulties faced in its implementation. The spokesperson of the President Office termed the agreement as a great success as it contains a step by step peace process for implementation beyond 2020 in working for peace, democratic reform, federalism and national reconciliation.
  • The peace accord called Union Peace Accord III contains 15 provisions to implement the NCA. These include troop deployment, protocol to deal with skirmishes between government troops and the armed groups among others.
  • The peace process in Myanmar was started In 2011 by President Thein Sein to end the long standing conflict with ethnic armed groups active in the country. A National Ceasefire Accord (NCA) was signed in October 2015 with armed ethnic groups. Subsequently the dialogue to initiate a political peace process was started in 2016 which is continuing.

Turkey's Erdogan Hails Huge Natural Gas Find

  • A Turkish drilling ship has discovered a big natural gas reserve in the Black Sea.
  • President Recep Tayyip Erdogan said that the drilling ship Fatih, which has been operating in the area since July, found 320bn cu m (11.3 tr cu ft) of gas.
  • He said that it was Turkey's biggest natural gas find to date.
  • If Turkey can extract the gas commercially, it will be able to reduce its reliance on imported energy.
  • He added: "This reserve is actually part of a much bigger source. God willing, much more will come.
  • But energy experts say it could take up to a decade and billions of dollars of investment to get the gas into commercial use.
  • Turkey has also sent a ship to carry out a drilling survey in the Eastern Mediterranean.

Mali Coup: Military Junta Seeks Transitional President

  • Coup leaders in Mali are talking to opposition parties about appointing a transitional president, who could be civilian or military.
  • They arrested Ibrahim Boubacar Keïta and forced him to resign, sparking global condemnation.
  • West African leaders have called for him to be reinstated and the UN says all those detained should be freed.
  • Mali has several jihadi groups in its northern deserts and there are fears they could take advantage of the coup.
  • They did so following the previous military takeover in 2012.
  • The coup leaders have promised to respect international agreements on fighting jihadists. Thousands of French, African and UN troops are based in the country to tackle the militants.
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BUSINESS AND ECONOMY

YES Bank Signs Deal to Sell its Mutual Fund Business

  • Shares of YES Bank closed 1.2 per cent lower after the bank announced that it has signed an agreement for the sale of 100 per cent stake in two of its subsidaries, YES Asset Management Limited (YES AMC) and YES Trustee Limited (YTL), to GPL Finance for an undisclosed amount.
  • YES AMC is the asset management company of YES Mutual Fund and YTL is the trustee of YES Mutual Fund.
  • White Oak Investment Management Private Limited owns 99 per cent of the purchaser, GPL Finance, and the ultimate beneficial holder of the purchaser is Prashant Khemka who owns 99.99 per cent of White Oak Investment Management Private Limited.
  • YES Bank expects the sale to be completed within the next 8-12 months.
  • Upon completion of the transaction, YES AMC and YTL will cease to be subsidiaries of YES Bank, which will exit its mutual fund business.

Megha Engineering Lowest Bidder for Zojila Tunnel

  • According to the National Highways and Infrastructure Development Corporation Ltd (NHIDCL), Megha Engineering & Infrastructure Ltd (MEIL) emerged as the lowest bidder for the prestigious Zojila Pass tunnel to provide all-year connectivity between Jammu and Kashmir and Ladakh union territories.
  • Among the three bidders in the race including Larsen & Toubro and Ircon International JV, the Hyderabad-headquartered company had quoted the lowest Rs. 4,509.5 crore for the tunnel project, stuck for over six years now.
  • The project holds strategic significance as Zojila Pass is situated at an altitude of 11,578 feet on the Srinagar-Kargil-Leh National Highway and remains closed during winters due to heavy snowfall.
  • Prime Minister Narendra Modi had in May 2018 laid the foundation stone.
  • Barely months after the foundation, the NHIDCL in January 2019 terminated the contract awarded to troubled IL&FS group company IL&FS Transportation after it abandoned the project citing financial problems.

KVIC Issues Legal Notices to Khadi Essentials and Khadi Global

  • Khadi and Village Industries Commission (KVIC) has issued legal notices to two firms, Khadi Essentials and Khadi Global for unauthorisedly and fraudulently using the brand name Khadi.
  • According to KVIC, the two firms are engaged in selling a range of cosmetic and beauty products through various e-commerce platforms using the brand name "Khadi" and thus misleading consumers.
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SPORTS

Online Chess Olympiad: India Notch up Three Easy Wins

  • A dominant India notched up three easy wins against Zimbabwe, Vietnam and Uzbekistan, respectively, in the FIDE Online Chess Olympiad.
  • India defeated Zimbabwe 6-0 and rolled over Vietnam 4-2 but the highlight certainly was the win against Uzbeks – 5.5-0.5.
  • Winning each round got India two points, taking them on top of the pool with six points while they also have the best game points 15.5 after 18 matches.
  • India is on top of the standings followed by China with an equal number of round points (6) but fewer game points (13.5) and Germany in third also with 6 points (11.5 game points).
  • India with an average ELO rating of 2419 is seeded seventh in the championship.
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NATIONAL AFFAIRS

MEA and Thailand's Foreign Ministry Organise 6th Round Table of AINTT

  • Ministry of External Affairs in partnership with the Ministry of Foreign Affairs of Thailand organized the 6th Round Table of ASEAN-India Network of Think Tanks (AINTT) through video conference on 20-21 August 2020. The ASEAN-India Centre (AIC) at the Research and Information System for Development Countries (RIS) and ASEAN Studies Centre (ASC) at Chulalongkorn University, Bangkok were the organizing partners of the Round Table. The theme of the Round Table was 'ASEAN-India: Strengthening Partnership in the Post COVID Era'.
  • The Round Table was jointly inaugurated by External Affairs Minister Dr. S. Jaishankar and the Deputy Prime Minister and Foreign Minister of Thailand Mr. Don Pramudwinai. ASEAN Secretary General Mr. Lim Jock Hoi also addressed the inaugural session. SOM Leaders / their representatives from all ten ASEAN Member States were also present in the Session.
  • The Round Table had five thematic sessions spread over two days namely, Changing Landscape of Global Order and ASEAN-India relations in the post Covid-19 Era; Emerging Value Chains: Opportunities for ASEAN and India in the post Covid-19 Era; New Normal and Significance of 4IR on ASEAN-India Partnership and Future Collaborations; ASEAN Outlook on Indo-Pacific (AOIP) and Indo-Pacific Oceans Initiative (IPOI): Complementarities and Cooperation; and Way Forward. Each Session saw presentation of research papers by 4-5 panelists from prominent think-tanks, universities, institutes both from India and ASEAN, followed by Q&A.
  • More than 400 people from academia, industry, government and diplomatic community attended the Round Table.
  • The ASEAN-India Round Table comprising think tanks, policy makers, scholars, media and business representatives was established at the 7th ASEAN-India Summit in Thailand in 2009 to provide policy inputs to Governments on future direction of cooperation. The forum serves as a high quality research platform and provides long-term perspectives to further strengthen ASEAN-India Strategic Partnership.
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DEFENCE

Will MICA-IR Boost Firepower of Sukhoi-Su30MKI?

  • According to media reports, the Indian Air Force (IAF) Sukhoi-Su30MKI jet for the first time test-fired MICA IR a dual waveband imaging infrared seeker version of the framed multi-mission air-to-air missile which is standard on the recently acquired Dassault Rafale and Mirage 2000-5 fleet but for the first time MICA IR has been tested from a Russian origin jet, which has some Post Balakot Air combat operations link as per sources close to idrw.org.
  • In 2012, IAF had placed orders for 490 Mica infrared and radar-controlled air-to-air missiles for its Mirage-2000-5 fleet and in 2016 it was for the first time test-fired from an upgraded Mirage-2000-5 aircraft marking successful integration into the fleet. 36 Dassault Rafale will also be equipped with the same MICA-IR-RF air-to-air missile which is will be supplemented with superior air dominance Meteor Beyond Visual Range Air-to-Air Missile (BVRAAM).
  • Vympel R-27T and Vympel R-73 are Medium and short-range infrared homing (heat-seeking) air-to-air missile which has been integrated on the Sukhoi-Su30MKI but both lacked superior range like seen in MICA-IR which also will be seen as a substitute to the Vympel R-27T which are prone to poor performance issues and also have a lower inflight shelf life. While the official range of MICA-IR is still classified it has been advertised as 80km but some experts suggesting it has been capped to 60km for the infrared version but it does create a sense of fear in the rival camp due to its unique stealthy interception capability provided by its silent seeker.
View Month Wise

PERSONS IN NEWS

Rajiv Kumar New Election Commissioner

  • Former Finance Secretary Rajiv Kumar was appointed Election Commissioner. Mr. Kumar will take charge the day Election Commissioner Ashok Lavasa leaves his office on August 31. The outgoing Election Commissioner is joining Asian Development Bank as its vice president.
  • Mr. Kumar is a retired Indian Administrative Service officer of the 1984 batch from Jharkhand cadre.
  • While Sunil Arora is the Chief Election Commissioner, the other Election Commissioner, apart from Ashok Lavasa, is Sushil Chandra.
  • Mr Kumar was appointed Finance Secretary in July last year, and his stint ended in February this year. He is known to have worked on key areas of Prime Minister Narendra Modi's plan of financial inclusion, through flagship schemes such as Pradhan Mantri Jan Dhan Yojana and Mudra loan scheme, among others.
View Month Wise

AWARDS AND HONOURS

Anand Mahindra, Shantanu Narayen to Receive 2020 Leadership Awards from USISPF

  • A top US-based India-centric business advocacy group will honour Mahindra group Chairman Anand Mahindra and Adobe Chairman and CEO Shantanu Narayen with its 2020 Leadership Awards in recognition of their exemplary vision towards promoting US-India bilateral ties.
  • The award, announced on Friday, would be presented during the third Annual Leadership Summit, titled "US-India Week: Navigating New Challenges", which will convene virtually from August 31.
  • The week-long programme, which will conclude on September 3, will include a range of strategic discussions between USISPF's board members, which include 21 Fortune 500 CEOs, and senior government officials from both the countries.
  • The summit will highlight areas of bilateral cooperation: trade and investment relations; strategic energy ties; India's position in global supply chains, collaboration in fintech, healthcare, and technology; and building a fair tax regime to attract FDIs, among others.

National Sports Awards 2020

  • India's limited-overs vice-captain and opening batsman Rohit Sharma is all set be conferred with Rajiv Gandhi Khel Ratna Award, which is given for the spectacular and most outstanding performance in the field of sports by a sportsperson over a period of four years.
  • Besides Rohit, only three more Indian cricketers namely legendary player Sachin Tendulkar, wicketkeeper-batsman Mahendra Singh Dhoni and current Indian skipper Virat Kohli have been honoured with the country's highest sporting honour.
  • Table tennis star Manika Batra, wrestler Vinesh Phogat, Indian women's hockey team player Rani, para-athlete Mariappan Thangavelu will also be honoured with the prestigious award as confirmed by the selection committee of the National Sports Award 2020.
  • Meanwhile,a total of 27 other sportsperson will recieve Arjuna Award, while five coaches will be honoured with the Dronacharya Award during 2020 National Sports Awards.
View Month Wise

ART AND CULTURE

Abhijit Paul's 'Am I' Wins First Prize in Online Patriotic Short Film Contest

  • A Short film titled 'Am I?' directed by Abhijit Paul won the first prize and a cash award of one lakh rupees in the Online Patriotic Short Film Contest organised by the Ministry Of Information and Broadcasting along with National Film Develoment Corporation, NFDC.
  • 'Ab India Banega Bharat' directed by Debojo Sanjiv got the second prize and a cash award of 50 thousand rupees and '10 Rupees' directed by Yuvraj Gokul got the third prize and a cash award of 25 thousand rupees. Eight short films have got Special Mention Certificates.
  • As part of Independence Day Celebrations-2020, Ministry of Information and Broadcasting in association with National Film Development Corporation, NFDC organised Online Short Film Contest to create patriotic mood surrounding this year's Independence Day.
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