Canara Bank launches gold loan business vertical to ease liquidity

1.Lassa fever claims 41 lives in Nigeria

A total of 41 people have died from Lassa fever in Nigeria’s northeastern state of Bauchi since the outbreak of the viral disease in the country early this year.A case of COVID-19 that has been detected early has a greater chance of getting cured than cases of Lassa fever cases.

The state government is training health staff on carrying out fumigation and spraying processes to prevent the spread of the disease.

Lassa fever is believed to be transmitted to humans when they come in contact with the saliva, urine and excreta of rats.

In certain cases, its symptoms can be similar to malaria.

2.China announces USD 2 billion in coronavirus help at WHO assembly

China will provide USD 2 billion over two years to fight the coronavirus pandemic.The USD 2 billion over the next two years will support COVID-19 response efforts, particularly in developing countries.

The announcement came as China faced growing global pressure over the lockdowns, death toll and a huge increase in coronavirus cases that has brought the world to a standstill.

3.Traditional ‘Hanko’ practice is coming in the way of Japan’s Covid-19 response

In Japan, where the government has been fiercely engaged in tackling the novel coronavirus pandemic, a centuries-old ritual is sharing the blame for impeding social distancing efforts.The extensive and almost unavoidable use of the ‘hanko’– a personal seal generally made from wood or plastic, for authorising official documents ranging from contracts, marriage registrations and even delivery slips, has been forcing several employees to go to the office to get work done.

The hanko is a personal stamp that is equivalent to a signature in other countries, and is an essential part of several transactions.

Small-sized and circular or square-shaped, the stamp is wet by an ink pad called ‘shuniku’, and the mark that it leaves on a document is called ‘inkan’

Even today, when many countries have seen a push towards paperless systems and adopting digital signatures, the hanko remains popular in Japan.

4.Rajiv Gauba chairs National Crisis Management Committee meeting, discusses preparedness and requirements for Super Cyclone

Cabinet Secretary Rajiv Gauba chaired a National Crisis Management Committee meeting and discussed the preparedness and requirements for the upcoming Super Cyclone.As per state’s request, 13 teams of NDRF have already been pre-positioned in West Bengal.

Four teams are enroute and four teams are on standby.

Further, a sufficient number of Army, Air Force, Navy and Coast Guard teams have been put on to meet any contingency and provide support to the State Government.

These include timely evacuation of people from the areas likely to be affected, having a 24×7 Control Room, provision of adequate food items and preparations for timely restoration of essential services.

5.Harsh Vardhan to represent India at 73rd World Health Assembly

Union Health Minister Harsh Vardhan will represent India at the 2-day World Health Assembly of the World Health Organisation (WHO).Due to the COVID-19 pandemic, the WHO has announced that the 73rd World Health Assembly will be held virtually.

The Health Assembly is held annually in Geneva, Switzerland.

Coronavirus will be the agenda of the meeting, which will be attended by all 194 WHO member states plus observers.

6.Amphan intensifies into Super Cyclone

Cyclone Amphan intensified into a super cyclone as it moved further North-North Eastwards over West Central Bay.The Met Department of Bangladesh forecast that the cyclonic storm is likely to move in a North-Northeasterly direction.

It is likely to cross the Bangladesh coast between Khulna-Chattogram during late night on 19 May to afternoon or evening of 20 May.

Amphan is the first super cyclone to hit the region in the last two decades since a super cyclone hit Odisha in 1999 causing widespread damage and loss of life.

The bulletin said that maximum sustained speed within 90 km of the storm centre is 225 kilometers per hour (kmph) rising to 245 kmph in gusts.

The cyclonic storm is also likely to impact North Odisha coastal districts including Jagatsinghpur, Kendrapara, Bhadrak and Balasore districts.

7.India provides US$ 2 million to UNRWA for welfare of Palestine refugees

India has given USD 2 million in aid to the United Nations Relief and Works Agency working for the welfare of Palestinian refugees in support of its core programmes and services, including education and health, amidst the coronavirus crisis.India had increased its annual contribution to the UNRWA from USD 1.25 million in 2016 to USD 5 million in 2019.

It pledged another USD 5 million for 2020 which opens its way to become a member of the agency’s advisory commission.

About 3.1 million Palestine refugees depend on health services provided by the UNRWA.

At the same time, the agency’s schools educate 526,000 students every year, of which half are female.

8.Government implements Shekatkar Committee recommendations related to creating border infrastructure

The Union Government has implemented Lt. General D B Shekatkar Committee’s recommendations related to creating border infrastructure.These were related to speeding up road construction leading to socio-economic development in the border areas.

On the matter related to creating border infrastructure, the Centre has implemented recommendations to outsource road construction work beyond optimal capacity of Border Roads Organization.

It has been made mandatory to adopt Engineering Procurement Contract (EPC) mode for execution of all works costing more than 100 crore rupees.

The other recommendation relating to introduction of modern construction plants, equipment and machinery has been implemented by delegating enhanced procurement powers from 7.5 crore rupees to 100 crore rupees to BRO, for domestic and foreign procurements.

9.Madhya Pradesh launches Charan Paduka initiative for migrant labourers

In Madhya Pradesh, in a first of its kind of initiative, Charan Paduka campaign has been started for the migrant labourers passing through the state.Under this campaign, the migrant labourers going barefoot are being provided shoes and slippers to reduce their pain.

The most notable thing is that this campaign is being conducted by the police at most places.

Now this human initiative has spread in many cities of MP including Damoh, Umaria and Sagar.

Migrant labourers are also very happy with this initiative of the police.

10.Kotak 811 Launches India’s First Zero-Contact, Video KYC Savings Account

Kotak Mahindra Bank (Kotak) announced the introduction of Video KYC to open a full-fledged Kotak 811 savings account, a first in Indian banking.This initiative, presently being launched on a pilot basis for savings accounts, is in line with Kotak’s digital-first strategy and is a start-to-end fully integrated, zero-contact, completely digital and paperless account opening + Full KYC journey.

The Video KYC process to onboard new customers will be extended to other products in a phased manner.

With Video KYC, verification of KYC documents and recording of the customer’s signature are completed via a video call with the bank, eliminating the need for a visit to the branch or in-person interaction, biometric verification or sharing of physical documents.

11.Canara Bank launches gold loan business vertical to ease liquidity

Public sector Canara Bank has launched a business vertical dedicated for gold loans to meet emerging financial needs of customers in view of the current challenges and uncertainties.It said the COVID-19 pandemic has changed the socio-economic order of the country and managing everyday expenses, business continuity, health and family care are a challenge for many.

With this objective, the bank has launched a special gold loan campaign till June 30 with an interest rate of 7.85 per cent per annum.

The loans are payable within a period of one to three years with flexible repayment options.

The credit can be utilised for agriculture and allied activities, business needs, health emergencies and personal needs.

The loan facility can be availed from all designated branches pan India, the bank said in a statement.

After the amalgamation of Syndicate Bank on April 1, Canara Bank has attained the position of fourth-largest public sector bank in the country with a total business of Rs 15.53 lakh crore.

12.Anil Kumble-led ICC committee recommends ban on saliva due to COVID-19 pandemic

Cricket is set to do away with one of its oldest practices, the use of saliva to shine the ball, as an Anil Kumble-led ICC committee recommended banning it owing to the COVID-19 pandemic.However, the ICC Cricket Committee saw no health hazard in continuing with the use of sweat.

The committee also pushed for bringing back two non-neutral umpires (both from the host nation) for all international matches, as DRS ensures more accurate decision making.

In line with its proposal, the committee has recommended an increase in the use of DRS review per innings, from two to three.

13.Noted Marathi writer Ratnakar Matkari passes away

Noted Marathi dramatist, litterateur, theatre personality and National Award-winning director, Ratnakar Matkari passed away in Mumbai.He had tested COVID-19 positive four days ago and was undergoing treatment.

A versatile writer, Mr. Ratnakar Matkari has the honour of being decorated by both Sangeet Natak Akademi and Sahitya Akademi for his wide range of works.

His film ‘Investment’ bagged the National Award in the Regional Category section.

Some of his noted Marathi dramas include ‘Arannyak’ based on Mahabharata, ‘Lok Katha 78’, ‘Dubhang’, ‘Ashwamedh’, Chaar Diwas Premache’ and ‘Indira’.