NATIONAL UPDATES:
1. Govt approves 21 projects under
Scheme for Integrated Cold Chain & Value Addition: Government has approved 21 projects, leveraging investment
worth 443 crore rupees supported with a grant of 189 crore rupees under the
Scheme for Integrated Cold Chain and Value Addition said by Minister for Food
Processing Industries Narendra Singh Tomar. These projects will benefit farmers
and consumers and urged the officers to expedite the implementation of approved
projects. These projects are spread across Andhra Pradesh, Gujarat, Himachal
Pradesh, Jammu and Kashmir, Kerala, Nagaland, Punjab, Telangana, Uttarakhand,
and Uttar Pradesh. Besides, 8 projects leveraging investment worth 62 crore
rupees with grants of 15 crore rupees under the Backward and Forward Linkages
(BFL) Scheme were also approved in another meeting. These projects are likely
to generate employment for nearly 2500 people.
2. Delhi Government launches Jeevan
Seva app for COVID-19 patients:
The Delhi government launched the Jeevan Seva app to aid Delhi’s Covid patients
and their families for a safe commute to hospitals and healthcare facilities in
the city. The app, launched in collaboration with EVERA will use electric
vehicles as ambulances to transfer non-critical cases to healthcare facilities
in Delhi, free of cost. Patients will be able to download the app through the
link sent to them through SMS and QR code to every tested COVID positive
patient in Delhi.
3. MoHFW launches three-month scheme
to reduce childhood pneumonia deaths:
A three-month marketing campaign to give attention to consciousness technology
and early intervention with regard to childhood pneumonia, enabling caregivers
throughout the nation to establish vital signs at earlier phases and set off
immediate care-seeking with certified suppliers, was launched by the Union
Ministry of Family Welfare (MoHFW). The initiative targets to reduce lower than
5 pneumonia deaths, per a 1000 reside births, to lower than three deaths by
2025 via the accelerated SAANS (Social Action and Awareness to Neutralise
Pneumonia Successfully) initiative. Launched final 12 months, the SAANS marketing
campaign enhances the nationwide childhood pneumonia administration tips via a
three-pronged method to shield, forestall and deal with pneumonia amongst kids.
Save the Children, the United Nations Children’s Fund (UNICEF) and the Clinton
Health Access Initiative (CHAI) have additionally partnered with the MoHFW so
as to intensify efforts to alleviate the burden of pneumonia on the nation.
INTERNATIONAL UPDATES:
1. PM Modi addresses 3rd Annual
Bloomberg New Economy Forum: Prime
Minister Narendra Modi has addressed the 3rd Annual Bloomberg New Economy Forum
through video-conferencing. The forum witnessed discussions on refuelling the
economy and charting a course for the future, as the world economy is grappling
with the COVID-19 pandemic. Some other Speakers of the forum included
Director-general of the World Health Organisation (WHO) Tedros Adhanom
Ghebreyesus, former UK Prime Minister Tony Blair, former US President Bill
Clinton, Microsoft founder Bill Gates, and Secretary-General of the United
Nations Antonio Guterres.
About
Bloomberg New Economy Forum: The Bloomberg New Economy Forum was established in
2018 by Michael Bloomberg, to build a community of leaders to engage in real
conversations leading to actionable solutions about the critical challenges
facing a world economy in the throes of a historic transition. The inaugural
Forum was held in Singapore and the Second Annual Forum was hosted in Beijing.
2.
Maia Sandu Wins Moldova Presidential Election: Maia Sandu has won
Moldova’s presidential election after a run-off vote against the incumbent Igor
Dodon. Ms Sandu has won 57.7% of the vote compared to Mr Dodon’s 42.2%. Sandu
is a former World Bank economist who favours closer ties with the European
Union. Mr Dodon, meanwhile, is openly backed by Russia.
Note: Moldova Capital: Chișinău; Moldova
Currency: Moldovan leu.
3. Guadalajara named World Book
Capital 2022: Guadalajara (Mexico) was named World
Book Capital for the year 2022 by the Director-General of UNESCO, Audrey
Azoulay, on the recommendation of the World Book Capital Advisory Committee.
The city was selected for its comprehensive plan for policies around the book
to trigger social change, combat violence and build a culture of peace. Tbilisi
(Georgia) was named as the World Book Capital 2021 and Kuala Lumpur (Malaysia)
for 2020.
OTHER UPDATES:
SPORTS
1. BCCI announces MPL Sports as
Official Kit Sponsor: The Board of
Control for Cricket in India (BCCI) has announced its partnership with Mobile
Premier League (MPL) Sports, the athleisure wear and sports merchandise brand
from Mobile Premier League, India’s largest esports platform, as the new kit
sponsor and official merchandise partner for the Indian Cricket Team.
Under
the newly-inked strategic partnership: MPL Sports has entered into a three-year
agreement from November 2020 to December 2023. MPL Sports’ association with the
BCCI begins with upcoming India’s tour of Australia, 2020-21, which will see
Team India sporting the new jerseys. The senior men and women and the Under-19
teams are also a part of the deal for the new kits. Apart from Team India
jerseys, MPL Sports will also sell licensed Team India merchandise. MPL Sports
will offer the jerseys and its wide range of Team India merchandise to fans at
affordable prices.
Note:
President of BCCI: Sourav Ganguly; Headquarters of BCCI: Mumbai, Maharashtra;
Founded: December 1928.
MPL
Founded: September 2018; Headquarters of MPL: Bengaluru, Karnataka; Co-Founder
and CEO of MPL: Sai Srinivas Kiran G.
BANKING AND FINANCE
1. RBI puts Lakshmi Vilas Bank under
moratorium: The Reserve Bank of India (RBI) has
placed cash-strapped Lakshmi Vilas Bank (LVB) under a moratorium for a period
of one month and restricted withdrawals at Rs 25,000 for depositors, owing to a
serious deterioration in the lender’s financial position. The central bank also
superseded the board of directors of LVB for a period of 30 days owing to a
serious deterioration in the financial position of the bank. The move was
announced through an order by the Ministry of Finance. Reserve Bank has come to
the conclusion that in the absence of a credible revival plan, with a view to
protecting depositors’ interest and in the interest of financial and banking
stability, there is no alternative but to apply to the Central Government for
imposing a moratorium under section 45 of the Banking Regulation Act, 1949.
Lakshmi
Vilas Bank to be merged with DBS: The RBI has also drafted a scheme of
amalgamation for LVB with DBS Bank India Ltd. and aims to complete the merger
process before the moratorium period ends. DBS Bank India Ltd (DBIL) is a
wholly-owned subsidiary of DBS Bank Ltd, Singapore (“DBS”), which in turn is a
subsidiary of Asia’s leading financial services group, DBS Group Holdings
Limited. The bank invited suggestions and objections, if any, from members,
depositors and other creditors of transferor bank (LVB) and transferee bank
(DBIL), on the draft scheme. DBIL will bring in additional capital of ₹2,500
crore upfront, to support credit growth of the merged entity.
Note:
Lakshmi Vilas Bank Headquarters: Chennai, Tamil Nadu; Lakshmi Vilas Bank
Founded: 1926; Lakshmi Vilas Bank President: Avtar Singh Monga.
2. RBI creates Reserve Bank
Innovation Hub to boost financial inclusion: The
Reserve Bank of India has created a Reserve Bank Innovation Hub (RBIH). The aim
of Innovation Hub is to promote innovation across the financial sector by
leveraging on technology and creating an environment which would facilitate and
foster innovation. RBIH will collaborate with financial sector institutions,
technology industry and academic institutions and coordinate efforts for
exchange of ideas and development of prototypes related to financial
innovations.
About
Reserve Bank Innovation Hub Management: Reserve Bank Innovation Hub (RBIH)
would be managed by a Governing Council (GC) consisting of 10 members
(including a chairperson). Shri Senapathy (Kris) Gopalakrishnan, co-founder and
former co-Chairman, Infosys, has been appointed as the first Chairperson of the
RBIH.
Note:
Governor of RBI: Shaktikanta Das; Deputy Governors of RBI: BP Kanungo, MK Jain,
MD Patra and Rajeshwar Rao; Headquarters of RBI: Mumbai, Maharashtra.
3. Equitas Small Finance Bank
appoints Smriti Mandhana as brand ambassador: Equitas Small Finance Bank has launched a women-centred
product ‘Eva’. The Bank has roped in Indian Woman cricketer Smriti Mandhana as
the brand ambassador for its newly launched product ‘EVA’. Eva is unique
savings account for women to address the well-being of Indian women in every aspect
such as health, wealth and prosperity.
Key
features of Eva Savings Account: Eva is available for all women like
salaried/homemakers/businesswomen/senior citizens/transwomen as well as
non-resident women. The women customers will get 7% interest on deposits. It
also offers free health check-up and unlimited teleconsultation with women
doctors, gynecologists and mental health experts. Eva also offers PF waiver and
discounted gold loan rates for women customers, along-with 25-50% discounts on
lockers.
Note:
Equitas Small Finance Bank Chairman: Arun Ramanathan; Equitas Small Finance
Bank MD and CEO: Vasudevan Pathangi Narasimhan; Equitas Small Finance Bank
Headquarter: Chennai, Tamil Nadu.
BUSINESS AND ECONOMY
1. Fitch Solutions revises India’s
fiscal deficit forecast to 7.8 per cent from 8.2 per cent earlier for FY21: Fitch Solutions has revised its estimate for India’s fiscal
deficit to 7.8% of GDP for 2020-21 from 8.2% projected earlier. This was mainly
driven by a strong recovery in tax revenues during Q2FY21. According to the
report, this revised forecast was driven by a strong recovery in tax revenues
during the second quarter of FY 2020-21. The fiscal revenue forecast in FY21
for the central government has been revised to 18.2 per cent decline, from the
earlier forecast of 18.4 per cent. The rating agency expects India’s economy to
contract by 10.5% in the year ending March 2021 and growth to rebound to 11% in
FY22, even as output in early 2022 will still be 16% lower than under its
pre-coronavirus forecasts.
2. Finance Minister Allocates Rs
39,097 Crore for MEIS Benefits for 2019-20; Rs 15,555 Crore for Apr-Dec 2020: Giving relief to exporters, the finance ministry has
approved allocation of Rs 39,097 crore under the incentive scheme MEIS for
exports during 2019-20. A total of Rs 15,555 crore was also allocated for MEIS
(Merchandise Exports from India Scheme) benefits for exports made during the
period April 1, 2020 to December 31, 2020. Accordingly, the Director General of
Foreign Trade (DGFT) is requested to issue the scrips up to a total value of Rs
16,000 crore in 2020-21. Issuance of remaining scrips may be spread over the
subsequent financial years through an appropriate mechanism.
AWARDS AND HONOURS
1. Russia’s Lakhta Center wins
Emporis Skyscraper Award 2019: The
Emporis Skyscraper Award, one of the world’s most renowned prizes for high-rise
architecture, has been given to a 462-metre-high Lakhta Center in St Petersburg
this year. This marks the first time that the prestigious award has gone to a
project in Russia in the 20-year-long history of the award. The skyscraper
which has been, designed by GORPROJECT and RMJM, is not only the tallest
building in Russia but is the tallest building in entire Europe and the
fourteenth tallest building in the world.
OBITUARIES
1. Rajasthan Minister Bhanwarlal
Meghwal passes away: Rajasthan Social Justice and
Empowerment Minister Bhanwarlal Meghwal passed away. The five-time MLA
represented the Sujangarh assembly constituency of Churu district of the state.
2. Ghana’s former president Jerry Rawlings passes away: Jerry Rawlings, who seized power twice in military coups but is now credited as a driving force behind Ghana’s emergence as a stable democracy, died. He was 73. His takeovers in 1979 and 1981 were marked by authoritarian rule and the executions of senior military officers, including General Frederick Akuffo, whom he overthrew in the first coup. But Rawlings went on to oversee Ghana’s transition to multi-party democracy, winning election in 1992 and 1996 before stepping down in 2001.
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