Top Best Current Affairs 3 July 2020 (2)

Government extends the term of Rajkiran Rai G as the Managing Director and Chief Executive Officer of Union Bank of India by 2 years till May 31, 2022. About Rajkiran Rai G. The 3 year term of Rajkiran Rai G as MD & CEO of UBI was to end on June 30, 2020. He took charge of UBI on July 1, 2017.

HDFC Bank has launched 'e-Kisaan Dhan' App for Farmers in India. This app provides information and knowledge to farmers which will help them to meet the needs of the rural ecosystem. With this app, farmers can access a bouquet of services in banking and agriculture, through their mobile phones.

In accordance with the India's International Investment Position data as at end-March 2020, released by RBI, FDI in the country has raised by $19 billion while portfolio investment declined by $13.7 billion during 2019-20.

Shrikant Madhav Vaidya assumed charge as the chairman of Indian Oil Corporation. He succeeds Sanjiv Singh who has superannuated.

Fitch Ratings Inc., an American credit rating agency in its June 2020 update of Global Economic Outlook (GEO), has lowered India's growth forecast for FY 2021-22 to 8% from 9.5 % projected in may 2020 due to the toughest lockdown imposed by the central government to prevent the outbreak of Coronavirus (COVID-19). However, Fitch has not made any change in its previous estimate of a - 5% in the economy during the current financial year (FY 2020-21).

The World Trade Organization Dispute Settlement Body has established a panel after the European Union has dragged India into the Dispute Settlement System of WTO for the second time against import duties on ICT (information and communication technology) products, including mobile phones, cameras, headphones and earphones, imposed by the country.

The World Bank approved a USD 750 million Micro, Small, and Medium Enterprises(MSMEs) Emergency Response Program to support severely impacted MSMEs in India due to COVID-19 crisis. The International Bank for Reconstruction and Development will provide the loan.

Ramesh Pokhriyal Nishank, Union Minister of Human Resource and Development (HRD) launched the world's first online B.Sc Degree in Programming and Data science through the webinar, the programme was prepared by Indian Institute of Technology, Madras(IIT-Madras). The programme is prepared with a focus on Data Science which is predicted to grow and provide 11.5 million job opportunities by 2026.