Current Affairs 24 August 2020

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Current Affairs 24 August 2020

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1. China sends a new Earth observation satellite into space‘Gaofen-9 05’
  • China successfully launched a new optical remote-sensing satellite from its Jiuquan Satellite Launch Centre in northwest China. The satellite, Gaofen-9 05, was sent into orbit by a Long March-2D carrier rocket.
  • A multifunctional test satellite and another satellite named Tiantuo-5 were also launched via the rocket.The Gaofen-9 (05) optical remote sensing satellite follows the launch of the third Gaofen-9 satellite in June and the fourth earlier this month. Previous satellites were capable of providing sub-meter resolution imagery.
  • The term "remote sensing" generally refers to the use of satellite or aircraft-based sensor technologies to detect and classify objects on Earth. It includes the surface and the atmosphere and oceans, based on propagated signals.
Foot Notes:
About China:
Currency: Renminbi
Capital: Beijing
President: Xi Jinping
 
2. Tata Capital Ltd Launched a New Service ‘Swift Insta Personal Loans’ on Whatsapp
  • Tata Capital Ltd(Tata Capital), the financial services arm of the Tata Group launched its new service called, ‘Swift Insta Personal Loans’ (SIPL) on WhatsApp. Through the new service, the existing customers can easily apply for loans and receive sanctions for personal loans (on a single platform) using TIA, a chatbot of Tata Capital on Whatsapp.
  • Currently the platform will be available in a comprehensive manner offering only personal loans. The platform will also be expanded to other loan categories. Through the company’s WhatsApp number(7506756060) for TIA, customers can apply for SIPL. SIPL is the latest edition to Tata Capital’s suite of instant loan offerings.
Foot Notes:
About Tata Capital Ltd:
HeadOffice: Mumbai, Maharashtra
MD & CEO: Rajiv Sabharwal

3. Businesses With Annual Turnover Of Up To Rs 40 Lakhs Are GST Exempt: Finance Ministry
  • The Union Ministry of Finance announced on August 24, 2020 that now businesses with an annual turnover of up to Rs 40 lakh will be GST exempt. The Ministry added that those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only 1 percent tax.
  • Earlier, only businesses with an annual turnover of Rs 20 lakh were exempted from GST tax. The Finance Ministry made the announcement through a series of tweets on the occasion of the first death anniversary of former Finance Minister Arun Jaitley.
Foot Notes:
Finance Minister:  Nirmala Sitharaman

4. India’s longest river ropeway over Brahmaputra opened for public
  • The long pending Guwahati passenger ropeway project connecting the northern and southern banks of the Brahmaputra River was formally inaugurated by state minister of finance, health and family welfare Himanta Biswa Sarma. It is to be noted that the Guwahati-North Guwahati route will be the longest ropeway distance over a river in the entire country.
  • The total length of this ropeway is 2 Km and its cabins have been imported from Switzerland. One way of the ride would cost Rs 60, while a two-way commute would require Rs 100.
  • The entire project has been built at an estimated cost of Rs 56 crore. It may be mentioned here that the ambitious project was initiated in 2006 by the Guwahati Metropolitan Development Authorities as part of beautifying the Brahmaputra riverfront.
Foot Notes:
About Assam:
Capital: Dispur
Chief Minister: Sarbananda Sonowal
Governor: Jagdish Mukhi

5. Bayern Munich win Champions League 2019-20 title
  • German professional sports club Bayern Munich won the UEFA Champions League title for the sixth time by defeating Paris Saint-Germain 1-0. The club bagged their maiden UEFA Champions League title in 1974.
  • French professional footballer, Kingsley Junior Coman was the only scorer of the match and selected the Man of the Match. Real Madrid is the top club in the winner list of total UEFA Champions League with 11 trophies so far. Bayern and Liverpool both are six-time champions of Europe. Bayern Munich won all 11 league fixtures of this season of the UEFA Champions League. Barcelona became the group topper for a record 13th consecutive season.
  • The Union of European Football associations organized the UEFA Champions League club football competition annually. Top European clubs participate in the tournament.
  • The first UEFA Champions League was organized in 1955-56 when it was called the European Cup. In 1992-93, it became the Champions League.
Foot Notes:
About UEFA:
Headquarters: Nyon, Switzerland
President: Aleksander Čeferin
 

 
6. PM Modi pays tribute to Arun Jaitley on his death anniversary
  • Prime Minister Narendra Modi paid tribute to senior BJP leader and former Finance Minister Arun Jaitley on his death anniversary. On the first death anniversary of former Finance Minister Arun Jaitley, the government is remembering his contribution to nation-building and the legacy he left behind as Finance Minister during 2014-19.
  • The Ministry of Finance acknowledged the key role he played in the implementation of GST. Arun Jaitley served as the Minister of Finance and Corporate Affairs of the Government of India from 2014 to 2019.
  • Jaitley previously held the cabinet portfolios of Finance, Defence, Corporate Affairs, Commerce and Industry, and Law and Justice in the Vajpayee government and Narendra Modi government. He was awarded the Padma Vibhushan, India's second highest civilian award, posthumously in 2020 in the field of Public Affairs.
7. Jaques Kallis, Lisa Sthalekar and Zaheer Abbas inducted into ICC Hall of Fame
  • Legendary South African all-rounder Jaques Kallis, Pakistan batting great Zaheer Abbas and Pune-born former Australian captain Lisa Sthalekar were inducted into the International Cricket Council's Hall of Fame.
  • Among the finest all-rounders to play the game, Kallis represented South Africa in 166 Tests, 328 ODIs and 25 T20s between 1995 and 2014.Remarkably, he is the only player to score at least 10,000 runs and take at least 250 wickets in both Test and ODI cricket.
  • Zaheer Abbas played 78 Tests and 62 ODIs for Pakistan, accumulating 5062 and 2572 runs respectively. Kallis is the fourth South African player to be inducted into the Hall of Fame and Abbas the sixth from Pakistan. Sthalekar represented Australia in eight Tests, 125 ODIs and 54 T20s.
  • Sthalekar is the 27th from Australia and the ninth woman player in the list, which includes five from her country.
Foot Notes:
About ICC:
CEO: Manu Sawhney
Headquarters: Dubai, United Arab Emirates
Chairman: Imran Khwaja
 
8. First female golfer from Germany Sophia Popov wins Women’s British Open
  • World number 304 Sophia Popov became the first female golfer from Germany to capture a major title after winning the Women's British Open by two strokes at Royal Troon in Scotland.
  • Thailand's Jasmine Suwannapura was the runner-up after shooting 67.It completed one of the most unlikely wins in the tournament's history.
9. Indonesia’s Sinabung volcano unleashes new burst of hot ash
  • A rumbling volcano in western Indonesia unleashed an avalanche of scorching clouds down its slopes. The volcano in North Sumatra province was shooting smoke and ash more than 1,000 meters into the air.
  • The 2,600-metre (8,530-feet) Sinabung was dormant for four centuries before exploding in 2010, killing two people.
  • Another eruption in 2014 killed 17 people, while seven died in a 2016 eruption. Sinabung is among more than 120 active volcanoes in Indonesia, which is prone to seismic upheaval due to its location on the Pacific Ring of Fire, an arc of volcanoes and fault lines encircling the Pacific Basin.
Foot Notes:
About Indonesia:
President: Joko Widodo
Currency: Indonesian rupiah 
Capital: Jakarta
 
10. Saudi Arabia's state oil company Aramco suspends 10 bn dollar China oil refinery project
 
  • Saudi Arabia’s state oil company Aramco has suspended a deal to build a 10 billion dollar refining and petrochemicals complex in China.
  • Aramco decided to stop investing in the facility in China’s Northeastern province of Liaoning due to uncertain market outlook.
  • The oil-price crash and Corona’s impact on energy demand have changed the calculations for energy companies’ projects around the world.
  • Aramco plans deep cuts to its capital spending as it tries to maintain a 75 billion dollar dividend amid low crude prices and rising debt.
Foot Notes:
About Saudi Arabia:
Capital: Riyadh
Currency: Saudi riyal
King: Salman of Saudi Arabia

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