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Current Affairs 26th March 2020

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1. 38th district to be formed in Tamil Nadu
  • A new district is going to be formed after bifurcating the Nagappattinam district.
  • The new district will be headquartered at Mayiladuthurai.
  • CM Edappadi Palaniswamy made the announcement saying, it would be the 38th district in the state.
  • Its main water source comes from the Kollidam River.
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2. First ‘Made in India’ COVID19 Test Kit to diagnose COVID-19 gets the commercial approval
  • It would cost 1/4th of the current procurement cost and is faster as it screens
  • It detects the infection within 2.5 hours as compared with over 7 hours by others.
  • CDSCO = Central Drugs Standard Control Organisation.
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3. WHO begins mega trial of 4 promising drugs to cure Covid-19
  • The mega trial is called Solidarity, under which the study, testing & development of antidote against coronavirus will be made.
  • Drugs are : Remdesivir, HIV drug, interferon-beta & malaria medicine.
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4. In Mumbai, Reliance Industries sets up India’s first Covid-19 dedicated hospital
  • Reliance Industries in collaboration with the Brihanmumbai Municipal Corporation has set up India’s first COVID-19 dedicated hospital in Mumbai
  • That includes a negative pressure room that helps in preventing cross-contamination and helps control infection.
  • It is a 100-bedded hospital.
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5. Censured Indian plant gets USFDA nod to supply Trump-touted coronavirus drug
  • Chloroquine and hydroxychloroquine were 1st approved in the U.S. decades ago.
  • Ipca: International pharmaceutical company based in Mumbai.
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6. Tamil Nadu CM announces new EV and data centre parks
  • TN CM : Edappadi K Palaniswami
  • Tamil Nadu CM said that, to attract new investments into the state, an EV park will be set up at Manalur SIPCOT Industrial Estate near Chennai
  • At an expected cost of Rs 148 Cr. A NABARD-assisted Rs 2,934 Cr plan is also announced.
  • This fund will create modern infrastructure in the parks.
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7. Uddhav Thackeray launches WhatsApp chatbox for coronavirus-related info
  • Uddhav Thackeray = CM of Maharasthra
  • He announced the creation of a WhatsApp chatbox-912026127394
  • To enable citizens to get coronavirus related information.
  • Maharashtra has reported the highest number of COVID- 19 cases (107) among states so far.
  • Maharshtra Governor- Bhagat Singh Koshyari.
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8. Reserve Bank’s US treasury holdings touch an all-time high at $164.3 bn
  • The holdings rose by more than $2 billion between December 2019 and January 2020.
  • RBI follows Safety, Liquidity & Return (SLR) principle.
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9. Indian rupee to average at 77 per US dollar in 2020, 80 in 2021: Fitch Solutions
  • It forecasted GDP growth of 5.8% in the following FY.
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10. Threshold for default under IBC norms raised from Rs 1 lakh to Rs 1 crore
  • The government may consider suspending section 7, 9 and 10 of the Insolvency and Bankruptcy Code for 6 months.
  • If the present situation doesn’t improve beyond April 30.
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11. Cognizant acquires US-based digital marketing firm
  • Cognizant Technology Solutions has entered into an agreement to acquire Lev.
  • Lev helps businesses simplify & modernise their marketing campaigns using Salesforce Marketing Cloud
  • Lev helps to provide data-driven insight & personalisation across the customer journey.
  • Lev is a privately held, digital marketing consultancy in US.
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12. HUL to acquire VWash from Glenmark Pharmaceuticals
  • Hindustan Unilever signed an agreement with Glenmark Pharmaceuticals Ltd to acquire its intimate hygiene brand VWash.
  • With this acquisition, HUL will be foraying into the niche intimate hygiene category.
  • HUL will be buying only the brand and the business.
  • Chairman & Managing Director of HUL : Sanjiv Mehta.
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13. Adani Transmission buys back NCDs worth Rs 125 Cr
  • Adani Transmission Ltd said that it has bought back non-convertible debentures (NCDs) worth Rs 125 Cr.
  • Adani Transmission- an Adani group company- is the country’s largest private transmission firm with a cumulative network of more than 14,800 circuit km.
  • Moody’s assigned Baa2 to Adani’s $400 mn senior secured bonds.
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14. IMF: Recession due to COVID-19 to be worse than 2009
  • World economy is facing severe economic damage from the coronavirus pandemic.
  • That could be even more costly than in 2009
  • It will require an unprecedented response, IMF chief Kristalina Georgieva said.
  • IMF is ready to deploy all $1 trillion lending capacity.
  • Global economy contracted by 0.6% in 2009 due to 2008 crisis.
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15. New Hanta Virus Emerges in China after COVID-19
  • Hanta Virus are similar to that of COVID-19.
  • The Hanta Virus, also called the Orthohanta virus spreads through rats.
  • It causes haemorrhagic fever.
  • Hanta also causes renal syndrome.
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16. Covid-19: Govt directs states to transfer cash to construction workers
  • In a first major step for the unorganised sector to tide over the COVID-19 during lockdown period.
  • The central government directed states to transfer cash into the bank accounts of construction workers from the unutilised welfare funds earmarked for them.
  • Labour Ministry directed the states to transfer Rs 52,000 Cr.
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17. Tokyo Olympic torch relay cancelled following postponement of games
  • The Japan leg of the Tokyo Olympic torch relay has been cancelled due to the coronavirus outbreak,
  • The move comes after PM Shinzo Abe & International Olympic Committee President Thomas Bach agreed to postpone the games by roughly 1 year.
  • Yoshiro Mori : President of the Tokyo 2020 organizing committee.
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18. On lending by banks to NBFCs, HFCs to be part of priority sector in FY21: RBI
  • RBI said bank credit to registered NBFCs towards agriculture, MSEs & housing sector up to prescribed limits will be treated as priority sector loans during the next FY starting April.
  • The move will help boost credit disbursement in the targeted segments.
  • PSL for bank loans to NBFCs for on-lending for 2020-21 extended.

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