Daily GK Updates – 4th Nov, 2020

 

NATIONAL UPDATES:

 

1. Harsh Vardhan launches SERB-POWER schemes to support women scientists: The Union Minister of Science and Technology, Harsh Vardhan has launched the ‘SERB – POWER’ schemes which aim to encourage and support emerging as well as eminent women researchers to undertake R&D activities in frontier areas of science and engineering. SERB-POWER stands for Science and Engineering Research Board – Promoting Opportunities For Women in Exploratory Research. This scheme is formulated to mitigate gender disparity in science and engineering research funding in various S&T programs in Indian academic institutions and R&D Laboratories, to ensure equal access and weighted opportunities for Indian women scientists engaged in research and development activities. The schemes have been launched to provide two categories of research support which are:

1. SERB – POWER Research Grants: This scheme will encourage emerging and eminent women researchers for the individual-centric and competitive mode of research funding. Under this, the funding will be under the following two categories:

Level I: The scale of funding up to 60 Lakhs for three years.

Level II: The scale of funding up to 30 Lakhs for three years.

2. SERB – POWER Fellowship: The Power Fellowship scheme will identify and reward outstanding women researchers and innovators working in Indian academic institutions and R&D laboratories, holding Ph.D.degree in any branch of science and engineering.

Fellowship of Rs. 15,000/- per month in addition to regular income.

Research grant of Rs.10 Lakh per annum.

Note: SERB is a statutory body under the Department of Science and Technology, GOI, established by an Act of the Parliament of India in 2009 (SERB ACT,2008).

 

2. India’s first ‘tyre park’ to come up in West Bengal: In West Bengal, Kolkata will soon feature India’s first “Tyre Park”, where artworks made from scrap and defective parts will be on display. The West Bengal Transport Corporation will launch this Tyre Park. The Tyre Park, which will come up at the Esplanade area, would have a small cafe where people can sit, relax and enjoy the craftsmanship made from tyres. No scrap material can be labelled as waste, it can be reused and converted into an art form. Scrap tyres, lying as waste in various bus depots, have been reworked and converted to colourful shapes by the in-house team of WBTC.

Note: Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.

 

3. UNESCO allots India’s Panna Tiger Reserve ‘Biosphere Reserve’ status: In Madhya Pradesh, the Panna Tiger Reserve has been included in the ‘World Network of Biosphere Reserves’ list of the UNESCO. This is the 12th biosphere reserve from India to be included in the ‘World Network of Biosphere Reserves’, and third from Madhya Pradesh, after Pachmarhi and Amarkantak. Currently, Panna Tiger Reserve is home to 54 tigers. The UNESCO World Network of Biosphere Reserves (WNBR) covers internationally designated protected areas (known as biosphere reserves) that demonstrate a balanced relationship between people and nature (like encourage sustainable development).

Note: Madhya Pradesh Capital: Bhopal; Madhya Pradesh Governor: Anandiben Patel(additional charge); Madhya Pradesh Chief Minister: Shivraj Singh Chouhan.

 

4. Centre Extends Term of Justice Bansi Lal Bhat as officiating Chairperson of NCLAT till December 31, 2020: The Central Government has once again extended the term of Justice (retd) Bansi Lal Bhat as the acting Chairperson of the National Company Law Appellate Tribunal (NCLAT). Justice Bhat’s term has been extended till December 31, 2020 or until a regular Chairperson is appointed or until further orders, whichever is the earliest. This is the third extension given to Justice Bhat. Justice Bansi Lal Bhat was appointed as Acting Chairperson in March 2020, after the first Chairperson of NCLAT, Justice SJ Mukhopadhaya, demitted office upon completion of his term. Initially, Justice Bhat’s  was appointed for a period of three months, from March 2020 till June 2020. His term was, however, extended further till September 2020 and then for one month till October 2020.

 

5. Rajiv Jalota becomes new chairman of Mumbai Port Trust: Indian Administrative Services (IAS) officer, Rajiv Jalota has been appointed as the chairman of Mumbai Port Trust (MbPT). The appointment committee of the Union cabinet issued the order for the central deputation. The post of MbPT chairman was vacant after former chairman Sanjay Bhatia retired on July 31 and was appointed as Lokayukta of Maharashtra. Jalota, who is the first Goods and Services Tax (GST) commissioner of Maharashtra, is currently the additional chief secretary in the higher and technical education department of the state government. He first served as sales tax commissioner and then as GST commissioner from January 2015 to January 2020.

Note: Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.

 

INTERNATIONAL UPDATES:

 

1. India-Pak border to light up with 8000MW renewable park: India’s border areas with Pakistan in Rajasthan would soon be illuminated with renewable energy. The state government will soon ink an MoU with National Thermal Power Corporation (NTPC) and Solar Energy Corporation of India (SECI) to establish Ultra Mega Renewal Energy Power Park. The park to be set up near borders areas will be of 8,000 megawatts (MW) capacity, which will comprise 4,310 MW of wind energy; 3,760 MW of solar energy and 120 MW of power from biomass. Currently, Rajasthan’s solar generation capacity is 4,883 MW.

The Rajasthan Renewable Energy Corporation Limited (RRECL) would be signing a separate MoU with the NTPC and the SECI to materialise the GoI Mega Power Park project. Rajasthan has over 1000 kilometre-long international border which is currently supplied power through traditional methods. The Rajasthan government had also approved a proposal for setting up solar power parks to generate 10,000 MW green energy with an investment of Rs 50,000 crore. The state has given nod to the proposal of Adani Green Energy Limited to set up solar power parks at five locations and a solar panel manufacturing unit which will generate around 7,500 direct and indirect jobs.

 

2. Portugal’s Duarte Pacheco elected as President of IPU for 2020-23: Portugal MP,  Duarte Pacheco has won the elections for the post the President of the Inter-Parliamentary Union (IPU). The term of the Duarte Pacheco will be from 2020-2023. He will be the 30th President of the IPU and will succeed Mexican MP Gabriela Cuevas Barron who completed the tenure in October 2020. Candidates from four countries were in the race for elections. The other three participants were Pakistan’s Muhammad Sanjrani, Uzbekistan’s Akmal Saidov and Canada’s Pakistani origin Salma Ataullahjan.

Note: Inter-Parliamentary Union (IPU) is based in Geneva, Switzerland; Inter-Parliamentary Union (IPU): founded in 1889; It consists of representatives from the National Parliaments of 179 countries.

 

OTHER UPDATES:

 

SPORTS

 

1. Indian boxers Amit Panghal wins gold at the Alexis Vastine International: Indian boxers Amit Panghal, Sanjeet and Ashish Kumar have won gold medals at the recently concluded Alexis Valentine International Boxing Tournament held in Nantes, France. The tournament was the first international event that Indian boxers were a part of since the lockdown.

Amit Panghal: Amit Panghal, the silver medalist at the 2019 AIBA World Boxing Championships in the 52 kg-weight categories, overcame the challenge from American boxer Rene Abraham.

Sanjeet: Sanjeet was up against France’s Soheb Bouafia in the 91 kg final bout and produced a clinical performance to win the top honours.

Ashish Kumar: In the 75 kg weight category, Indian boxer Ashish Kumar won the gold medal after his opponent from the USA, Joseph Gerome Hiks, gave him a walkover due to injury.

 

BANKING AND FINANCE

 

1. RBI imposes monetary penalty on DCB Bank for rule violations: The Reserve Bank of India (RBI) imposed monetary penalty on DCB Bank and Jio Payments Bank for various rule violations. The central bank has imposed a penalty of Rs 22 lakh on DCB Bank for non-compliance with certain provisions on marketing/distribution of mutual fund/insurance etc. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

In the case of Jio Payments Bank, the RBI imposed a penalty of Rs 1 crore for non-compliance with RBI directions on timely submission of application in the case of reappointment of Managing Director and Chief Executive Officer under Section 35B of the Banking Regulation Act, 1949 (the Act).

Note: Governor of RBI: Shaktikanta Das; Deputy Governors of RBI: BP Kanungo, MK Jain, MD Patra and Rajeshwar Rao; Headquarters: Mumbai, Maharashtra.

 

2. Government extends Emergency Credit Line Guarantee Scheme till November 30, 2020: Central Government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) by one month till November 30th, 2020, or till such time that an amount of Rs. 3 lakh crore is sanctioned under the Scheme. The ECLGS was announced as part of the Aatma Nirbhar Bharat Package of Central Government to provide fully guaranteed and collateral-free additional credit to MSMEs, business enterprises, individual loans for business purposes and MUDRA borrowers. The limit of credit be upto 20% of their credit outstanding as on 29.2.2020. Till now Rs. 2.03 lakh crore has been sanctioned under the Scheme.

 

BUSINESS AND ECONOMY

 

1. Axis Bank to buy 19.002% stake in Max Life against 17% earlier: Axis Bank has announced that it will acquire 19.002% stake in Max Life as against 17.002% stake decided earlier. The decision has been taken after, the RBI rejected Axis Banks proposal to buy 17.002% stake in Max Life. Now under the revised scheme, Axis Bank along with its subsidiaries Axis Capital and Axis Securities will acquire a total of 19.002% stake in Max Life. The further bifurcation of this 19.002% is as follows. Axis Bank will acquire up to 9.002% of the equity share capital of Max Life. While, Axis Capital and Axis Securities together will acquire up to 3%of the share capital of Max Life.

 

DEFENCE

 

1. India-US-Japan-Australia kick-starts Malabar Naval Exercise-2020: The Navies of India, the US, Japan and Australia began the four-day-long phase first of the Malabar naval exercise in the Bay of Bengal. From the Indian side, destroyer Ranvijay, frigate Shivalik, off-shore patrol vessel Sukanya, fleet support ship Shakti and submarine Sindhuraj will be part of the drill. US Navy Ship USS John S McCain (Guided-missile destroyer), Australian Navy Ship HMAS Ballarat (long-range frigate) and Japan Maritime Self Defence Ship (JMSDF) Ship JS Onami (destroyer) are participating along with Indian Navy units.

In the first phase of the exercise, navies would witness complex and advanced naval drills like anti-submarine and anti-air warfare operations, cross deck flying, seamanship evolutions and weapon firings. The Phase-I of the exercise will be held from November 3 to 6, while the Phase-II is scheduled to be held from November 17 to 20 in the Arabian sea. This is the first time that the member nations of the Quad or Quadrilateral Coalition is participating in the exercise together after 2007 (Quad member nations are India, the US, Japan and Australia).

Note: The Malabar exercise started in 1992 as a bilateral drill between the Indian Navy and the US Navy in the Indian Ocean. Japan became a permanent member of the exercise in 2015.

 

OBITUARIES

 

1. James Bond actor Sean Connery passes away: The Scottish actor, best known for his portrayal of James Bond, Sean Connery passed away. Scottish movie legend Connery, who shot to international stardom as the suave and sophisticated British agent James Bond and went on to grace the silver screen for four decades. Connery will be remembered first as British agent 007. He was admired by generations of film fans as the original and best 007 and went on to create a distinguished body of work in films such as The Man Who Would Be King, The Name of the Rose and The Untouchables.

 

2. Meghalaya icon Spelity Lyngdoh Langrin passes away: Face of the decades-long anti-uranium mining movement of Meghalaya, Spelity Lyngdoh Langrin (95 years) passed away. She was the icon for turning down a multi-crore offer from the Uranium Corporation of India Limited (UCIL), a Public Sector enterprise in Meghalaya. India’s largest and richest uranium deposits in Domiasiat and Wahkyn areas of Meghalaya. Domiasiat uranium deposit was discovered in 1984 and has 9.22 million tonnes of high-grade uranium ore deposits.