Daily Important Current Affairs August 27th 2020 – IBPS PO / Clerk/ RRB Exams


National Affairs 

NITI Aayog releases Export Preparedness Index 2020

NITI Aayog released the Export Preparedness Index (EPI) 2020. EPI intends to identify challenges and opportunities; enhance the effectiveness of government policies and encourage a facilitative regulatory framework.

  • Gujarat was identified as the top performing state in the category of Coastal state and also topped the Overall rankings.
  • Chhattisgarh and Jharkhand had taken several measures to promote exports which can be implemented by the other states with similar socio-economic challenges.
  • The EPI provides invaluable insights on how states can attain this goal.

State Affairs

Karnataka CM Addresses virtual Indo-Japan business forum from Bengaluru

Karnataka Chief Minister B. S. Yediyurappa addressed a virtual Indo-Japan business forum organised by the Indian Chamber of Commerce (ICC). The Chief Minister also signed a Japan-India Start-up Initiative to promote start-ups in the State.

  • The Government of Karnataka has set up a 519 acres Japanese Industrial Township at Vasanthanarasapura near Tumakuru to enable more Japanese investments in the state.

About Karnataka:

  • Governor – Vajubhai Rudabhai Vala

Banking Affairs

RBI projects country’s growth rate at (-) 4.5 per cent for 2020-21

The Reserve Bank has projected India’s growth rate at (-) 4.5 percent for 2020-21. In its annual report, RBI projected global growth rate between (-) 6.0 per cent and (-) 7.6 per cent. The report says that expected headline inflation will remain elevated in the current quarter, but likely to ease in the second half of the fiscal.

  • The report also notes that government consumption spending has provided a measure of relief, with the central government’s revenue expenditure, having risen by 33.7 per cent in the first quarter.

About Reserve Bank of India (RBI):

  • Headquarters– Mumbai, Maharashtra
  • Governor– Shaktikanta Das

HSBC launches one-stop solution for multiple payment options

HSBC India’s Omni Collect — a one-stop solution to provide multiple payment options on single platform. The aim is to simplify the way businesses collect payments through various digital modes. With this, the businesses can offer various digital payment modes to their customers.

  • With Omni Collect solution, HSBC India will enable businesses to offer different digital payment modes to their clients and also provide them with a comprehensive view of their collections.

About HSBC India:

  • HeadQuarters– Mumbai, Maharashtra
  • CEO– Surendra Rosha

Axis Bank introduced ‘Liberty Savings Account’ for the Indian Youth

Axis Bank has introduced ‘Liberty Savings Account’ for the Indian Youth, to address the ever-changing lifestyle needs of young and digitally interested Indians. It offers a complimentary hospital cash insurance cover of up to Rs 20,000 per year.

  • It covers hospital expenses incurred under COVID -19, which makes this a 1st of its kind savings account to cover the pandemic. This account targets to meet the lifestyle requirements of the working class that falls under 35 years of age.

About Axis Bank:

  • Headquarters: Mumbai, Maharashtra
  • MD and CEO: Amitabh Chaudhry


SBI Mutual Funds Management appoints Vinay Tonse as MD, CEO

SBI Funds Management announced the appointment of Vinay M Tonse as its managing director and chief executive officer.

  • SBI Funds Management is a joint venture between the country’s largest lender State Bank of India (SBI) and European asset manager Amundi.
  • Tonse took over the charge as MD and CEO on Monday from Ashwani Bhatia, who now returns to parent SBI as its managing director, the fund house said in a statement.

Science & Technology

ISRO signs MoU with VSSUT to set up Incubation Centre

Indian Space Research Organisation (ISRO) signed a Memorandum of Understanding(MoU) with Veer Surendra Sai University of Technology (VSSUT), Burla, Odisha, a technical institute, to set up the first of its kind innovation cum incubation centre, VSSUT Space Innovation Centre(VSSSIC) in India to promote space research.

  • The MoU was signed over the virtual platform in the presence of K Sivan, Chairman of ISRO and Atal Chaudhuri, Vice Chancellor of VSSUT.

About ISRO:

  • Chairman– K.Sivan
  • Headquarters– Bengaluru, Karnataka

About VSSUT:

  • Vice Chancellor– Atal Chaudhuri
  • Location– Sambalpur, Odisha

Summits & Conference

BRICS Industry ministers attend video meeting to discuss cooperation boost in 5G, AI

The Industry ministers of BRICS countries attended the video meeting on August 24, 2020, to discuss ways to boost cooperation in areas including Artificial Intelligence and 5G.

  • The meeting of the five members bloc which includes Brazil, Russia, India, China, and South Africa adopted a joint statement on cooperation in the new industries such as Artificial Intelligence, 5G, and the industrial internet.

Economic Affairs

Jeff Bezos becomes first person to hit a net worth of $200 million

As per the Forbes report, Amazon’s CEO Jeff Bezos and also the world’s richest man is worth $204.6 billion as of August 27, 2020. Bezos is $90 billion richer than Bill Gates, who is also the world’s second-richest person and is currently worth $116.1 billion.

  • The report also mentioned that the Amazon CEO has earned $86 billion worth of his wealth in the last 12 months. He was worth $114 billion until September 2019.
  • According to the experts, Jeff Bezos is on his path to become the world’s first trillionaire in 2026.

Sports Affairs

England pacer James Anderson became 1st fast bowler in history to take 600 Test wickets

England pacer James Anderson became the first fast bowler in history to take 600 Test wickets yesterday. The 38-year-old was seven wickets away from the feat when he started playing the third Test against Pakistan at the Ageas Bowl. On Day 5 of the match, he dismissed Pakistan batsman Azhar Ali to claim his 600th wicket.

  • Muttiah Muralitharan with 800, Shane Warne with 708 and Anil Kumble with 619 wickets are the only other bowlers – all spinners – who remain ahead of Anderson on the all-time list of wicket-takers.

Indian Table Tennis star Poulomi Ghatak announced retirement

Poulomi Ghatak, one of the most successful Indian table tennis players, who represented India at various international levels, declared retirement from her tennis career.

  • Poulomi Ghatak belongs to the state of West Bengal. She is married to Soumyadeep Roy, a professional table tennis player in India. Her tennis career started in 1992 at the age of 9.
  • She won three junior national championships as well as seven senior national championships between 1996 and 2016.

Books & Authors

A book title ‘Cricket Drona’ on renowned coach Vasoo Paranjape

A book title ‘Cricket Drona’ on renowned coach Vasudev Jagannath Paranjpe or Vasoo Paranjape will be released on September 2, 2020. The book is written by Vasudev Jagannath Paranjpe’s son and current national selector Jatin Paranjpe along with Cricket Journalist Anand Vasu and published by Penguin.

  • The book talks about the impact of Paranjpe on shaping the careers of India’s greatest cricketers like Gavaskar, Tendulkar, Rahul Dravid and Rohit Sharma.

Important Days

World Water Week 2020: 24-28 August

The World Water Week is an annual global event organized by Stockholm International Water Institute (SIWI) since 1991 to address the planet’s water issues and related concerns of international development.

  • The World Water Week 2020 has been organised from 24-28 August in virtual format due to the COVID-19 pandemic.
  • The theme for World Water Week 2020 at Home is ‘Water and Climate change: Accelerating Action’.

PIB News

MOU signed between NeGD and CSC E-Governance Services India Limited

With an objective to realise Digital India’s vision of “Power to Empower” and to enable Digital Inclusion across the length and breadth of India, the National e-Governance Division (NeGD), Ministry of Electronics & IT (MeitY) has signed an MOU with CSC (Common Service Center) e Governance Services India Limited.

  • The aim of this MOU is to facilitate delivery of UMANG services at CSCs, in an assisted mode, thereby making services on UMANG app available to citizens through the network of3.75 lakh CSCs

About NeGD:

NeGD is an Independent Business Division (IBD) established by Ministry of Electronics and Information Technology within Media Lab Asia to undertake Programme Management of NeGP

CCI approves the proposal of Tau Investment to acquire shares in J B Chemicals

The Competition Commission of India (CCI) approves the proposal of Tau Investment to acquire shares in J B Chemicals. The proposed combination envisages acquisition of acquisition of up to 64.90% of share capital of J B Chemicals & Pharmaceuticals Limited by Tau Investment Holdings Pte. Ltd. (Tau Investment).

  • Tau Investment is a company incorporated in Singapore and J B Chemicals & Pharmaceuticals Limited is an Indian pharmaceutical company, headquartered in Mumbai, Maharashtra.

Dr. Harsh Vardhan dedicates two new Medical Colleges and three Super-Speciality Blocks in Rajasthan to the Nation

Dr. Harsh Vardhan, Union Minister of Health and Family Welfare along with Sh. Ashok Gehlot, Chief Minister of Rajasthan digitally inaugurated two new medical colleges and three Super Specialty Blocks in Rajasthan in the presence of Sh. Ashwini Kumar Choubey, MoS, Health and Family Welfare.

  • As a measure to improve the quality of medical education in the country, a common entrance examination, namely, NEET has been introduced for admission to all medical courses. Common counselling at State level has also been introduced through appropriate changes in regulations.

About Health & Family welfare Ministry:

  • Headquarters: New Delhi
  • Union Minister : Harsh Vardhan

National e-Assessment Centre will be set up to implement Faceless Assessment:

A National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres will be set up to implement the Faceless Assessment Scheme of the Income Tax Department, launched nation-wide by Prime Minister Shri Narendra Modi.

The regional assessment network would comprise assessment units, verification units, technical units and review units. The system allows for dynamic jurisdiction, team-based working, and functional specialization and does away with human interface altogether