Current Affairs: June 19, 2020

Notes:
India is ranked 43rd on the annual World Competitiveness Index compiled by the Institute for Management Development (IMD).
It has retained the same 43rd rank obtained in the previous edition. In the 2020 list that ranks 63 nations, Singapore has retained its top spot. It is followed by Denmark and Switzerland. However, the United States moved down from 3rd place to 10th place. While India improved in high-tech exports, foreign currency reserves etc, it degraded in areas like exchange rate stability, real GDP growth.

Notes:
South Korea recently said that North Korea has blown up the inter-Korean liaison office building, that is located north of the Korean border.
This serious incident followed the recent degradation in the relations between the two countries. North Korea has earlier threatened to engage in military action at the border with South Korea. The two countries jointly set up a liaison office at Kaesong in North Korea in 2003. The Kaesong Industrial Complex is a joint industrial zone operated by both North Koreans and South Koreans.

Notes:
‘International Day of Family Remittances (IDFR)’ is celebrated on June 16, every year across the world.
This year, the International Day is observed with the theme of “Remittances are a lifeline”. The United Nations that designated the day, also calls upon governments, private sector companies and the civil society, to maximize the impact of remittances through individuals.

Notes:
Great Wall Motor (GWM), the Chinese carmaker recently signed a Memorandum of Understanding (MoU) with the Maharashtra government.
GWM, also the latest Chinese automaker to enter the Indian market agreed to invest in modernising its Talegaon manufacturing plant. This investment is expected to generate employment for 3,000 people. The company also confirmed its plan to invest USD 1 billion in the Indian market.

Notes:
The investment arm of NABARD (National Bank for Agriculture and Rural Development), NABVENTURES Fund I has made its first investment in rural fintech start-up Jai Kisan.
NABVENTURES was launched in May 2019 with a proposed corpus of over ₹500 crore. The investment was made in the Mumbai-based start-up as part of a ₹30 crore funding round. Jai Kisan plans to invest the capital for hiring personnel and investing in its technology platform.