Current Affairs - June, 2020

This category comprises latest Current Affairs of June, 2020 with news summary on current events of National and International importance. Current Affairs June, 2020 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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New Strain of Swine Flu Virus having Human Pandemic Potential Discovered in China

A new virus has been discovered by scientists in China that is quite similar to the 2009 Swine Flu that caused a global pandemic. The new strain of the virus is named as ‘G4 EA H1N1 (commonly called G4 virus)’, it has human pandemic potential.

G4 Virus

The G4 virus was detected by scientists at several institutions of China including the National Influenza Centre of China during a pig surveillance program. The surveillance program was conducted in between 2011 to 2018 by collecting above 30,000 nasal swab samples from pigs across 10 provinces of China.

A total of 179 swine influence viruses were identified during the program, mostly didn’t pose such concern for human transmission. The new strain of the G4 Virus has sharply increased among the pigs since 2016 after which tests were conducted on the strain of the virus.

The tests conducted found that the virus can cause zoonotic infection (animal to human) but there hasn’t been any evidence of person-to-person transmission of the virus yet. The G4 virus can replicate in human cells and the test results have further shown that the immunity developed by a human body against seasonal flu won’t be able to provide protection to the human body against the G4 virus.

RBI to conduct Special OMOs on 2nd July to Pump up Liquidity

On 29th June 2020, the Reserve Bank of India (RBI) has announced that it will be conducting a special Open Market Operations (OMOs) on 2nd July 2020. The Open Market Operations was announced after reviewing the market conditions and evolving liquidity situations in banks. Through this special Open Market Operations, the aim will be to pump up liquidity in the financial system of the country.

About the Special Open Market Operations

Government Securities worth Rs 10,000 crore will be purchased and sold simultaneously during the special Open Market Operations.

At first, the Reserve Bank of India will be selling short term government securities worth Rs 10,000 crore that is maturing in between 15th October 2020 to 29th April 2021.

Then it will be purchasing new long term government securities worth Rs 10,000 crore that will have a maturity period between May 2027 to 5th December 2033.

Such operations were simultaneous selling and purchase of government securities are conducted by the Central Bank of the country are known as Operation Twist. This will be the second such operation in this financial year to be conducted by the Reserve Bank of India. The first Operation Twist of this financial year was conducted on 27th April 2020 of Rs 10,000 crore.