Daily Current Affairs, 04th July 2020

1) International Day of Cooperatives celebrated on 04th July

•The United Nations celebrates the International Day of Cooperatives every year on the first Saturday of July to increase awareness of cooperatives. In the year 2020, the International Day of Cooperatives will be celebrated on 4th July with a focus on the contribution of cooperatives to combating climate change. UN has also appealed to spread the word: “#Coops4ClimateAction” to celebrate the International Day of Cooperatives 2020.

•United Nations is celebrating the International Day of Cooperatives every year on the first Saturday of July since 1923. Co-operatives have been acknowledged as associations and enterprises through which citizens can effectively make their lives better by contributing to the economic, social, cultural as well as political advancement of their community and nation. Cooperatives employ 280 million people across the globe which is 10% of the world’s employed population.

2) Union HRD Minister launches “Drug Discovery Hackathon 2020”

•“Drug Discovery Hackathon” has been launched by the Union Minister for Human Resource Development Shri Ramesh Pokhriyal ‘Nishank’ and Union Minister for Health and Family Welfare and Ministry of Science and Technology Dr. Harsh Vardhan. The hackathon is a joint initiative of MHRD, AICTE and CSIR, and supported by partners such as CDAC, MyGov, Schrodinger and ChemAxon.

•Drug Discovery Hackathon is a first of its kind national initiative which has been launched to support drug discovery process. Through this, government is also planning to attract international talent as the event is open to participation from across the globe from professionals, faculty, researchers and students from varied fields such as computer science, medical sciences, chemistry, Pharmacy, basic sciences and biotechnology. This Hackathon will support India in establishing the new model for expediting drug discovery process.




3) ADB becomes “Observer” for Network for Greening the Financial System

•The Central Banks and Supervisors Network for Greening the Financial System (NGFS) has been joined by the Asian Development Bank (ADB) as an observer. ADB has joined the network to fulfil its corporate strategy “the Strategy 2030” goals such as building climate and disaster resilience, enhancing environmental sustainability, fostering regional cooperation and integration, tackling climate change, and strengthening governance and institutional capacity.

•With this, ADB has joined the ranks of the International Monetary Fund, the Organisation for Economic Co-operation and Development, World Bank and the International Finance Corporation as NGFS observers. Network for Greening the Financial System is a group of central banks and supervisors who are inclined to share best practices and contribute to the development of environment and climate risk management in the financial sector.

4) Care Ratings forecasts Indian Economy to contract by 6.4%

•Care Ratings has forecasted Indian economy to contract by 6.4% for the financial year 2020-21. The rating agency has slashed the GDP growth rate of Indian economy citing continued restrictions in the economic activities due to the lockdown on account of the COVID-19 pandemic. It also expects that the positive growth will come from only agriculture and the government sector.

5) GoI extends tenure of Sukhbir Singh Sandhu as NHAI Chairman

•The extension of Sukhbir Singh Sandhu‘s tenure as the chairman of the National Highways Authority of India (NHAI) has been approved by the Appointment Committee of the Cabinet (ACC). His tenure has been extended for a period of six months beyond 21st of July 2020 to 21st of January 2021.

•Sukhbir Singh Sandhu is a 1988 batch IAS officer of Uttarakhand cadre and took charge as the chairman of the National Highways Authority of India (NHAI) in October 2019.