Top 10 Weekly Current Affairs: 17 May to 23 May 2020

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The Monetary Policy Committee (MPC) of the Reserve Bank of India has decided to hold bi-monthly monetary policy meetings on May 20, 21 and 22 in the wake of the COVID-19 epidemic. The meeting was earlier scheduled to be held on 03 June 2020 and was to be announced on 05 June 2020, but during the monetary policy meeting, the MPC has analyzed the current and emerging macroeconomic and financial conditions, So as to reduce the policy revival rate, the impact of COVID-19 along with development can be reduced. These decisions of the MPC are necessary to keep target inflation within the target and thereby maintain financial stability.

NAM health ministers expressed their concerns as a global threat (COVID - 19) and discussed appropriate preparedness, building resilience and fighting it with regional, national and international cooperation.
Union Minister of Health and Family Welfare, Dr. Harshvardhan attended the meeting of the Minister of Health of the Non-Aligned Movement (NAM) on 20 May, which took place through a video conference.

Five new ports of call have been added on the Indian side, Maya, Kolaghat, Sonamura, Dhulian, and Jogigopa respectively, while on the Bangladesh side they have added Sultanganj, Rajshahi, Chilmari, Bahadurgabad and Daudkandi.

During the lockdown, e-commerce company Flipkart and Bajaj Allianz General Insurance have entered into an agreement to provide digital motor insurance policy to Flipkart customers. This partnership between the insurance company and the e-commerce head will provide Flipkart's customers with a seamless, fast, accessible and flexible solution to secure their vehicles.

 Dilip Ummen will be the new president of the Indian Steel Association. He is currently the CEO of ArcelorMittal Nippon Steel India. He was unanimously elected chairman for the next two years. He will replace Tata Steel CEO TV Narendran, who has decided to step down as chairman from May 1. Ummen, having more than 37 years of experience, is an alumnus of Indian Institute of Technology, Kharagpur as well as a professional veteran of the steel industry.

The landing craft utility ship 'INLCU L57' is inducted into the Indian Navy at Port Blair. The warship has been built by Garden Reach Shipbuilders and Engineers Limited (GRSE). "INLCU L57" will be the seventh warship in the LCU Mark IV class.

Rajesh Goyal has been appointed as the new Director General (DG) of the real estate body National Real Estate Development Council (NAREDCO). Prior to this, he served as Chairman and Managing Director of Hindustan Prefab Limited. He has more than 37 years of experience in leading PSUs under the Ministry of Housing and Urban Affairs.

The Appointments Committee of the Union Cabinet has approved the appointment of Govinda Rajulu Chintala as the Chairman of the National Bank for Agriculture and Rural Development. He is currently serving as the Chief General Manager at NABARD. He will continue in office until his retirement in July 2022. Presently, Dr. Harsh Kumar Bhanwala is serving as the Chairman of NABARD.

The Government of Uttar Pradesh has established ‘UP Start-up Fund’ under the Start-up Policy 2017 with UP Information Technology. For this an agreement has been signed between the Government of Uttar Pradesh and Small Industries Development Bank of India (SIDBI), in which the fund will be managed by SIDBI. An initial contribution of Rs 15 crore has been passed in this fund. The main objective of this fund will be to support registered start-up ventures in various sectors in Uttar Pradesh.

NTPC Limited and Oil & Natural Gas Corporation Limited (ONGC) have signed a Memorandum of Understanding (MoU) to set up a joint venture company for the renewable energy business. This partnership will enable both companies to make their mark in the field of renewable energy and establish a new source.

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