Daily updates 3 june 2020

National News

1. Indian Energy Exchange launches "Real-Time Electricity Market"

The "Real-Time Electricity Market (RTM)" has been launched by the Indian Energy Exchange on its platform and it will be effective from 01st June 2020. RTM will facilitate the power utilities to reduce dependency on deviation framework and save on the huge penalties. It will aid the grid operators to improve the overall safety and security of the grid. It will help the utilities and system operators to forecast and schedule green energy in an effective way.

Economy News

2. Moody's Investors Service downgrades India's sovereign rating to 'Baa3'

The sovereign rating of India has been downgraded by the Moody's Investors Service from "Baa2" to "Baa3" citing the challenges faced by India in implementing the policies in order to reduce the risks of a sustained period of low growth and deteriorating fiscal position. "Baa3" is the lowest investment grade that is just a notch above the junk status. It has also expected contraction by 4% in the India's real GDP in fiscal 2021, due to the shock from the coronavirus pandemic as well as the related lockdown measures taken by India to contain the COVID-19 pandemic.

Appointments

3. Raveesh Kumar becomes new Ambassador of India to Finland

Raveesh Kumar has been appointed as the next Ambassador of India to Finland. He is presently serving as the Joint Secretary in the Ministry. He is an IFS officer of 1995 batch. He will replace Vani Rao as the next Ambassador of India to Finland.

Important takeaways for all competitive exams:

• Prime Minister of Finland: Sanna Marin; Capital: Helsinki.

4. Sushil Singhal appointed India's next High Commissioner to Papua New Guinea

Sushil Kumar Singhal has been appointed as the next High Commissioner of India to the Independent State of Papua New Guinea. He is presently serving as the Joint Secretary in the Ministry of External Affairs. He will replace Vijay Kumar as the next High Commissioner of India to the Independent State of Papua New Guinea.

5. Sibi George appointed India's next Ambassador to Kuwait

Sibi George has been appointed as the next Ambassador of India to the State of Kuwait. He will replace K. Jeeva Sagar as the next Ambassador of India to the State of Kuwait. K. Jeeva Sagar assumed charge as Ambassador of India to the State of Kuwait in January 2018.

6. Gaitri Kumar appointed India's next High Commissioner to UK

Gaitri I. Kumar has been appointed as the next High Commissioner of India to the United Kingdom. She is an IFS officer of 1986 batch and will replace Ruchi Ghanashyam as the next High Commissioner of India to the United Kingdom.

Science & Technology

7. DRDO creates disinfection unit named as "Ultra Swachh"

A disinfection unit named as "Ultra Swachh" has been developed by the Defence Research and Development Organisation (DRDO) to disinfect a wide range of materials such as electronics items, fabrics, Personal Protective Equipment (PPEs) etc. It has been developed in compliance with International Standards of Industrial, Occupational, Personal and Environmental Safety. It comprises of Ozonated Space Technology and uses the advanced oxidative process for disinfection process.

Important takeaways for all competitive exams:

• Chairman of Defence Research and Development Organisation: G Satheesh Reddy.
• Headquarters of Defence Research and Development Organisation: New Delhi.

Important Days

8. World Bicycle Day celebrated on 3rd June

United Nations celebrates World Bicycle Day every year on 3rd June to advance the use of the bicycle as a means of fostering sustainable development. The day is being observed every year to encourage member nations to give particular attention to the bicycle in cross-cutting development strategies and to improve road safety and integrate it into sustainable mobility and transport infrastructure planning and design.

Important takeaways for all competitive exams:

• Secretary-General of United Nations: António Guterres.

Obituaries News

9. Former Union Minister & social worker P Namgyal passes away

Former Union Minister and three-time Congress MP from Ladakh, P Namgyal passes away. He has served as the Minister of State for Parliamentary Affairs, Surface Transport and Chemicals and Petro chemicals. He was the member of the then Jammu and Kashmir Legislative Council from 1960-73 and then from 1974-80, and later served as the union deputy minister in the Central Government between 1988-89.

10. Archery coach Jayantilal Nanoma passes away

Former International Archer turned coach Jayantilal Nanoma passed away. He was an Asian Cup and Asian Grand Prix medallist in compound individual and team archery in 2010. After becoming archery coach, he produced several national and international level archers from Rajasthan, and also worked as a coach of Indian team in various overseas competitions.