16th May 2020 Daily Current Affairs

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Dear Great Ambitionists, here are today's (16th May 2020) Important Current Affairs updates. Check complete Daily Current Affairs of the year 2020 from HERE. Happy Reading :)

Daily Current Affairs of 16th May 2020

International Current Affairs

• Today is International Day of Living Together in Peace. 
• • In 2017, the United Nations declared this Day to promote peace, tolerance, inclusion, understanding, and solidarity across the world.
• United States President Donald Trump has announced that the US will donate ventilators to India. 
• • He also underlined the close partnership between the two countries and called Prime Minister Narendra Modi his good friend.
    
  • The president also announced that both states are cooperating to develop a vaccine for COVID-19. 
  • Note : At Trump's request, India had last month allowed the export of 50 million Hydroxychloroquine tablets to treat COVID-19 patients in America, the country worst hit by the pandemic.
• The German parliament has passed a law making the burning of flags from foreign countries, including that of the European Union, a punishable offence. 
• • Under the new law, which was spurred on by lawmakers after protesters burned Israeli flags on the streets of Berlin, violators can receive up to three years in prison.
• India today opposed a move by Pakistan and China to build the Diamer-Bhasha dam on the Indus River in Gilgit-Baltistan. 
• Slovenia has become the 1st European country to proclaim an end to the coronavirus epidemic at home.
• • The government today said, the COVID-19 spread is under control and there is no longer a need for extraordinary health measures.
  • Prime Minister : Janez Jansa

National Current Affairs

• Today (16th May) is Sikkim Statehood Day.
• • It was on this day in the year 1975 that Sikkim, India's least populous state officially became a part of India.
  • About Sikkim :
  • • Capital : Gangtok
    • Districts : 4
    • Chief Minister : Prem Singh Tamang
    • Governor : Ganga Prasad
• India today crossed China's coronavirus case count as 3,970 new cases were reported in last 24 hours. 
• • The country now has 85,940 coronavirus cases, 2,999 more than China's 82,941 infections, and has reported 2,752 deaths. 
  • Out of the total cases in India, 53,035 are active, while 30,153 people have been cured, discharged or migrated.
• Union Health Minister Harsh Vardhan today appealed all states and UTs to ban the sale of tobacco products and spitting in public places to prevent the spread of coronavirus. 
• Work for National Population Register (NPR) 2021 has been postponed in Uttar Pradesh in view of the coronavirus pandemic. 
• • The state government issued a circular in this regard on Saturday that has been sent to all district magistrates and district heads. 
  • There are over 4,000 cases of coronavirus in the state, of which 2,165 patients have recovered.
• Indian Army's only horse-mounted cavalry regiment, the 61st Cavalry, is reportedly set to be converted into an armoured regiment with tanks. 
• • This move comes on the recommendation of the Lieutenant General (retd) DB Shekatkar's report on reforming the armed forces. 
  • The Jaipur-based cavalry regiment, comprising of around 300 horses, is to be equipped with T-72 tanks.
  • [Meaning of Cavalry - soldiers who fought on horseback].

Banking, Business & Economic Affairs

• Finance Minister Nirmala Sitharaman's announcements today (16th May 2020) :
• • The government will introduce commercial mining in coal sector on revenue-share basis to reduce import of substitutable coal and increase self-reliance in coal production. 
  • • With this, the government monopoly in the coal sector will end. 
  • Foreign Direct Investment (FDI) limit in defence manufacturing under automatic route will be raised from 49% to 74%. 
  • • The government will also begin time-bound defence procurement and faster decision making by setting up a Project Management Unit to support contract management.
  • The government will notify a list of weapons/platforms for ban on import with year-wise timelines. 
  • • The notified weapons will be produced in India and this will be done to bring self-reliance in the defence sector. 
    • There will be provision of separate budget for domestic capital procurement.
  • Future projects for planetary exploration and outer space travel will be open for private sector. 
  • • The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities.
  • The government will make more airspace available for civilian flying to bring down travel time and fuel costs. 
  • • Currently, only 60% of the airspace is freely available. 
    • The measure will provide benefits of about ₹1,000 crore a year for the aviation sector, Sitharaman added.
• Reliance Industries has announced that its ₹53,125 crore rights issue will open for subscription of shareholders on May 20 and close on June 3. 
• • The company will offer one share for every 15 shares held at ₹1,257, a 14% discount on the closing price of April 30. 
  • Note : This is the first rights issue by Reliance Industries in nearly three decades.
• Social Networking giant Facebook is going to acquire GIF-making and sharing website Giphy and will integrate GIF library with Instagram. 

• Download January 2020 Month's Current Affairs PDF File from HERE 
• Download February 2020 Month's Current Affairs PDF File from HERE 
• Download March 2020 Month's Current Affairs PDF File from HERE

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