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Important Current Affairs 5th October 2020


PM to inaugurate Summit RAISE 2020- ‘Responsible AI for Social Empowerment 2020’

• Prime Minister will inaugurate a mega virtual summit on Artificial Intelligence RAISE 2020- ‘Responsible AI for Social Empowerment 2020’ on October 5, 2020, at 7 PM.

• According to an official release from PMO, the mega virtual summit will be organised by the Ministry of Electronics and Information Technology (MeitY) and NITI Aayog on October 5-9, 2020.

• The release also informed that PM plans on leveraging Artificial Intelligence (AI) for inclusive development, representing India’s ‘AI for ALL’ strategy in the spirit for Sabka Saath Sabka Vikaas.

Banking and Economy

NABARD launches refinance scheme for WASH programme, earmarks Rs 800 cr for FY’21

• In a bid to promote sustainable and healthy lifestyle in rural areas, National Bank for Agriculture and Rural Development (NABARD) announced a special refinance facility to support the government”s Water, Sanitisation and Hygiene (WASH) programme.

• An amount of Rs 800 crore has been earmarked for this purpose for the financial year 2020-21.

• NABARD will provide concessional refinance to all eligible financial institutions, including commercial banks, regional rural banks and cooperative banks, with a repayment period of up to 36 months.


Robert Lewandowski wins UEFA Player of the Year award

• The Polish forward scored 15 goals on the way to Bayern Munich’s sixth Champions League title, hitting the target in every match before the final except a group game against Tottenham Hotspur when he was rested.

• Other players in consideration were Manchester City’s Kevin De Bruyne and Bayern goalkeeper Manuel Neuer.

• He also fired 34 goals in 31 Bundesliga matches and six in five German Cup games, helping Bayern win both competitions

• The German champions’ manager Hansi Flick won UEFA’s coach of the year of the award.

Acquisitions and Mergers

Warburg Pincus invests Rs 700 cr to acquire stake in Home First Finance

• Home First Finance, True North-backed affordable housing finance firm, said it has entered into an agreement with Warburg Pincus-affiliate Orange Clove Investments BV for an investment of Rs 700 cr.

• The investment is a combination of primary fund raise and secondary sales by existing shareholders.

• As of March 31, 2020, Home First had an asset under management (AUM) of Rs 3,618 crore with a net worth of Rs 933 crore and a gross non-performing asset of 0.87 per cent.

Science and Technology

Reliance develops RT-PCR kit that gives C-19 results in 2 hours

• Reliance Life Sciences has developed an RT-PCR (real-time reverse transcription-polymerase chain reaction) kit that will be able to diagnose C-19 infection in just about 2 hours.

• The computational biologists as Reliance Life Sciences, which is a subsidiary of billionaire Mukesh Ambani- run Reliance Industries Ltd., had analyzed more than 100 genomes of SARS-CoV-2 sequenced in the country and had designed unique RT-PCR primers for developing the qualitative RT-PCR kit for C-19 detection.

• Currently, the test for the qualitative detection of nucleic acid from SARS-CoV-2 takes up to 24 hours for the results.


India’s Visnu wins gold in International Online Shooting Championship

• In Shooting, India’s Visnu Shivaraj Pandian has won the 10m air rifle event at the fifth edition of the International Online Shooting Championship held on 3rd October 2020.

• The 16-year-old Visnu shot 251.4 to win the title by a clear margin of two points.

• The world No. 27 Etienne Germond of France came second followed by Martin Strempfl of Austria at third place.


World Teachers’ Day

• World Teachers’ Day is observed globally on 5th October since 1994. The day provides the occasion to celebrate the teaching profession worldwide, take stock of achievements, and draw attention to the voices of teachers, who are at the heart of efforts to attain the global education target of leaving no one behind.

• In 2020, World Teachers’ Day will celebrate teachers with the theme “Teachers: Leading in crisis, reimagining the future”.