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Current Affairs [PDF] - March 16-31, 2020

Sumitro Bhattacharya | katu22in@gmail.com
Punjab National Bank (PNB) unveils new logo following
Oriental Bank of Commerce (OBC)
Fitch Solutions slashes its estimate for India’s GDP growth in 2020-21 to 4.6%
India Ratings (Ind-Ra) cuts its 2020-21 growth forecast for the Indian economy to 3.6%
World
COVID-19: Alan Merrill, songwriter of ‘I love rock ‘n’ roll’, dies at 69 in New York
Veteran Japanese comedian Ken Shimura dies at 70 from coronavirus
Sports
Tokyo Olympics to be held from July 23 to August 8 in 2021; Paralympics Games from August 24 to
September 5: International Olympic Committee.
March 16, 2020
Facts Box: Methanotrophic Bacteria Culture first time in India
The Agharkar Research Institute of Pune has isolated 45 strains of methanotrophic bacteria. These bacteria
are capable of reducing methane emissions in rice plants.
Highlights
Apart from isolating the strains, the scientists have also created methanotrophic culture. The isolated
bacteria were from southern and western India.
What are Methanotrophs?
Methanotrophs are environmental organisms that have a major role in cycling of methane. They oxidize
methane in the environment. The methanotrophic bacteria oxidize methane through anaerobic metabolism.
The methanotrophs are used as bio-inoculants.
What are Bio-Inoculants?
Bio-Inoculant are strains of bacteria, algae or fungi. They take in nitrogen from atmosphere and prepare
nitrates required for plants. By this, use of fertilizers are reduced. They also increase zinc and phosphorous
availability for plants.
Benefits
After carbon-dioxide, methane is the second largest green house gas contributor. With the use of
methanotrophic bacteria in agriculture, emission of methane shall be greatly reduced. Methane traps 84
times of heat trapped by carbon-dioxide.
Corona Virus: US Federal Reserve reduces interest rate to 0%
On February 16, 2020, the United States Reserve Bank announced that the key interest rates are to be
slashed to 0% to 0.25%. This is being done in response to growing impact of Corona Virus.
Highlights
This is the second emergency cut by the reserve bank in less than two weeks. Similar rate cuts were made
by the bank earlier only during 2008 global financial crisis.
Global Impacts of Corona Virus
The Global Economy has been badly hi due to Corona Virus. With countries imposing travel ban and
business meets and industrial summits being postponed, the global market is hit badly. After China, Spain
has shut down its communication with the external world.
Global Economic Slow Down
The Organization of Economic Cooperation and Development downgraded world GDP growth. Earlier its was
predicted that GDP growth for the year 2020 will be 3%. Now it has been reduced to 2.5%
Manufacturing Sector
The Purchasers Managers Index that was between 45 and 55 for the global powers has reduced to 40 and
50. Of all the China’s manufacturing powers were hit hard. This has affected Vietnam, South Korea and

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