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Important Current Affairs 24th May 2020

National

LokSabha Passed Mineral Law Amendment Bill

• LokSabha has passed the Mineral Laws (Amendment) Bill, 2020 which aims to amend Mines and Minerals (Development and Regulation) Act, 1957 along with Coal Mines (Special Provisions) Act, 2015.

• Commercial mining will completely be open up in the coal sector by this bill. Another important feature of this bill is that it intends to remove end-use restrictions to participate in coal mine auction.

Banking and Economy

KKR invests in Reliance Jio for 2.32% stake

• KKR invests Rs 11367 crore in Reliance Jio Platforms to buy a stake of 2.32 percent in a fully diluted basis. The deal is subject to regulatory and customary approvals. This is fifth global investment deal in last one month.

• Earlier, Facebook, Silver Lake, Vista Equity and General Atlantic invested in the Jio Platforms. Know all about KKR-Jio deal here.

Acquisitions and Mergers

IRDAI approves Union Bank to continue with its 30% holding in India First Life Insurance

Insurance Regulatory and Development Authority of India(IRDAI) has approved the proposal of the state owned lender Union Bank of India-UBI(which holds 25.1% stake in Star Union Dai-Chi Life) to continue with its 30% holding in IndiaFirst Life Insurance.

Appointments and Resignations

Indian economist, AbhasJha appointed to key World Bank position in South Asia

• Indian economist, AbhasJha has been appointed as the Practice Manager for Climate Change and  Risk Management for South Asia at World Bank.

• AbhasJha’s appointment comes at a time when Cyclone Amphan has badly hit West Bengal, Orissa in India and Bangladesh.

Ranking

India Became Second Largest Manufacturer Of PPE In The World

• India has become the second-largest manufacturer of Personal Protective Equipment in the world following China which is currently leading producer of PPE in the world.

• At present, India is producing 2.06 lakh PPE kits every day which is the maximum capacity of the country. A PPE kit basically consists of shoe cover, gloves, eye shield, mask, and gown.

Days

International Day to End Obstetric Fistula

• International Day to End Obstetric Fistula (IDEOF) is observed on 23 May. The day is celebrated by the United Nations.

• In 2003, the United Nations Population Fund (UNPF), formerly known as the United Nations Fund for Population Activities (UNFPA) and its partners had launched a global campaign to End Obstetric Fistula.

• The theme for 2020 IDEOF is “End gender inequality! End health inequities! End Fistula now!”.