04th July 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the daily GK update of 04th July 2020 covering the following news headlines: Drug Discovery Hackathon, SAP, Asian Development Bank, Vladimir Putin, Care Ratings.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about the banking terms, current affairs news, etc. So, here is the GK update of 04th July 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. 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.

2. SAP launches Global Bharat program for Indian MSMEs

The Global Bharat program has been launched by the German technology firm SAP India. The programme has been designed to equip Indian micro, small, and medium enterprises (MSMEs) with digital technologies in order to make them globally competitive. SAP India will also provide MSMEs access to their enterprise resource planning (ERP) software under the Global Bharat program. It will compliment the Indian government’s vision to empower the MSME sector by offering them access to global marketplace, digital skilling for the workforce and transforming business processes.

International News

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. 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.

Important takeaways for all competitive exams:

• President of Asian Development Bank: Masatsugu Asakawa.

4. Russian President Vladimir Putin records victory in Presidential polls

President of Russia, Vladimir Putin has recorded a victory in the recently held Presidential polls. With a victory, he is set to stay in power until the middle of the next decade i.e. until 2036. Russians citizens went to the polls to cast ballots in a nationwide referendum on Constitutional Amendments. A preliminary tally of results was released by the Central Election Commission of Russia after processing 50% of ballot, and stated that 76.24% of the citizens voted in support of the amendments.

Economy News

5. 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.

Appointments

6. 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.

Sports News

7. Two-time Olympic badminton champion Lin Dan retires

Former world number one badminton player and the two-times Olympic badminton champion from China, Lin Dan has announced his retirement from the sport. During his 20-year glorious national team career, he won the Olympics singles titles in Beijing in 2008 and the 2012 London Games.

Important Days

8. 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.

Important takeaways for all competitive exams:

• Secretary-General of United Nations: Antonio Guterres.

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