Daily GK Updates – 12th Dec, 2020

 

NATIONAL UPDATES:

 

1. Cabinet approves Atmanirbhar Bharat Rojgar Yojana: The Union Cabinet has given its approval for Atmanirbhar Bharat Rojgar Yojana (ABRY) to boost employment in the formal sector by encouraging the businesses to do fresh hiring amid the pandemic. ABRY will also incentivize the creation of new employment opportunities under Atmanirbhar Bharat Package 3.0. About the Yojana:

(1) The Cabinet has approved an expenditure of ₹ 1,584 crores for the current financial year and ₹ 22,810 crores for the entire scheme period from 2020 to 2023.

(2) The scheme will provide subsidy for two years in respect of new employees engaged on or after October 1, 2020, and up to June 30, 2021.

(3) The government will pay both 12 per cent employees’ contribution and 12 per cent employers’ contribution i.e. 24 per cent of wages towards EPF in respect of new employees in establishments employing up to 1,000 employees for two years.

(4) It will pay only employees’ share of EPF contribution i.e. 12 per cent of wages in respect of new employees in establishments employing more than 1,000 employees for two years.

Eligibility: (1) An employee drawing monthly wage of less than ₹ 15,000 who was not working in any establishment registered with the Employees’ Provident Fund Organisation (EPFO) before October 1, 2020, and did not have a Universal Account Number (UAN) or EPF Member account number prior to October 1, 2020, will be eligible for the benefit.

(2) Any EPF member possessing Universal Account Number (UAN) drawing monthly wage of less than ₹ 15,000 who made exit from employment during COVID pandemic from March 1, 2020, to September 30, 2020, and did not join employment in any EPF covered establishment up to September 30, 2020 will also be eligible to avail benefit.

 

2. National Centre for Divyang Empowerment inaugurated in Telangana: The Union Minister of State for Home Affairs, G Kishan Reddy has inaugurated the National Centre for Divyang Empowerment (NCDE) at the CRPF Group Centre in Hakimpet near Hyderabad, Telangana.

About National Centre for Divyang Empowerment: The NCDE is first of its kind establishment to re-skill and rehabilitates the Divyang Warriors of the Central Armed Police Forces (CAPF) who suffered life-threatening injuries in the line of duty. Several market-driven expertise like computer skills and various sports skills will be imparted on the Divyang Warriors to empower them and enable them to serve the force and the country. All possible assistance and cooperation will be extended for the welfare of the Divyang Warriors.

Note: Central Reserve Police Force Director-General: AP Maheshwari; Central Reserve Police Force Headquarters: New Delhi, India.

 

3. Union Minister Nitin Gadkari inaugurates Koilwar bridge in Bihar: The Union Minister for Road Transport and Highways, Nitin Gadkari has inaugurated the 1.5 km long Koilwar bridge over Sone river in Bihar through Video Conferencing. This newly inaugurated bridge is a part of the six-lane bridge being made in place of the existing two-lane bridge, for both rail and road traffic, which is 138 years old. The total cost of setting up this three-lane bridge is estimated at Rs 266 crore. The bridge is a major road for transport between Bihar and UP. Once this six-lane bridge is fully operational, the traffic on NH-922 and NH-30 will ease substantially.

 

INTERNATIONAL UPDATES:

 

1. Kuwait emir reappoints Sheikh Sabah Al-Khalid as prime minister: Kuwait Emir Sheikh Nawaf Al-Ahmad Al-Sabah has re-appointed Sheikh Sabah Al-Khalid Al-Sabah as prime minister. The move comes two days after Sheikh Sabah submitted his government’s resignation in a procedural step following parliamentary polls. The country’s ruler accepted the premier’s resignation before reassigning him to form the upcoming government. Sheikh Nawaf who took over the leadership of the Gulf state in September after the death of his brother also asked Sheikh Sabah to nominate members of a new cabinet. The new cabinet would have to be approved by the Emir.

Note: Kuwait Capital: Kuwait City; Kuwait Currency: Dinar.

 

2. International Day of Neutrality: 12th December: International Day of Neutrality is a United Nations recognized day held on December 12 each year to raise public awareness of the value of neutrality in international relations. It was officially declared by a UN General Assembly resolution adopted in February 2017 and first observed on December 12, 2017.

About Neutrality: Neutrality is defined as the legal status arising from the abstention of a state from all participation in a war between other states, the maintenance of an attitude of impartiality toward the belligerents, and the recognition by the belligerents of this abstention and impartiality — is critically important for the United Nations to gain and maintain the confidence and cooperation of all in order to operate independently and effectively, especially in situations that are politically charged.

 

3. International Universal Health Coverage Day: 12th December: International Universal Health Coverage Day is a United Nations’ recognized international day celebrated every year on December 12. The Day aims to raise awareness of the need for strong and resilient health systems and universal health coverage with multi-stakeholder partners. This year theme of International Universal Health Coverage Day is ‘Health For All: PROTECT EVERYONE’. The theme reflects that to end this crisis (COVID-19) and build a safer and healthier future, we must invest in health systems that protect us all—now.

On 12 December 2012, the United Nations General Assembly endorsed a resolution urging countries to accelerate progress toward universal health coverage (UHC) – the idea that everyone, everywhere should have access to quality, affordable health care – as an essential priority for international development. On 12 December 2017, the United Nations proclaimed 12 December as International Universal Health Coverage Day (UHC Day).

 

OTHER UPDATES:

 

SPORTS

 

1. Madagascar replaces Maldives as host of 2023 Indian Ocean Island Games: Madagascar has replaced the Maldives as the host of the 2023 Indian Ocean Island Games due to concerns over the COVID-19 pandemic. The event had been awarded to the Maldives last year, but members of the Indian Ocean Island Games Federation voted to move the Games to Madagascar. The decision came as a result of the challenges the Maldives is facing in organising the event during the coronavirus crisis. The Maldives had requested pushing back the 2023 Games to 2025 but the IOIGF was keen to avoid a six-year void between editions of the multi-sport event.

Note: Madagascar Capital: Antananarivo; Madagascar President: Andry Rajoelina; Madagascar Currency: Malagasy ariary.

 

2. Annika Sorenstam elected president of International Golf Federation: The International Golf Federation (IGF) elected Annika Sorenstam as its new president effective January 1, 2021. IGF President, Peter Dawson, is stepping down after 10 years of leadership and service.  Sorenstam, a 72-time winner on the LPGA Tour and former No. 1 from Sweden.

Note: International Golf Federation Founded: 1958; International Golf Federation Headquarters: Lausanne, Switzerland; Golf became an Olympic sport again in 2016 after 112 years.

 

3. Zena Wooldridge Elected As World Squash Federation President: Zena Wooldridge from England has been elected as the World Squash Federation President. She will become the 10th WSF President to serve since the Federation’s inception in 1967. She is the second female President after New Zealand’s Susie Simcock. She replaces outgoing President Jacques Fontaine, from France. She previously served six years as President of the European Squash Federation between 2013-2019.

Note: World Squash Federation Founded: 1967; World Squash Federation Headquarters: Hastings, United Kingdom.

 

BANKING AND FINANCE

 

1. BoB launches Atmanirbhar Women Gold Scheme: Bank of Baroda (BoB) has recently launched the Atmanirbhar Women Scheme as part of its Baroda Gold Loan. This scheme aims to target the self-reliant woman in India. Under the scheme, the bank is offering loans at 0.50 per cent concession for women. The bank under the gold loan scheme is offering agri-gold loan at 0.25 per cent concession and for a retail loan at 0.50 per cent concession. This Atmanirbhar scheme is exclusively meant for helping women to be self-reliant. The scheme was launched at BOB’s Ramamurthy Nagar branch in Bengaluru and simultaneously in 18 branches coming under 18 zones in the country.

Note: Bank Of Baroda Headquarters: Vadodara, Gujarat, India; Bank Of Baroda Chairman: Hasmukh Adhia; Bank Of Baroda MD & CEO: Sanjiv Chadha.

 

BUSINESS AND ECONOMY

 

1. Fitch Ratings lowers India’s GDP contraction at 9.4% for FY21: Fitch Ratings has revised the GDP growth rate for India in its Global Economic Outlook, and now expects the economy to contract 9.4 per cent in the current financial year 2020-21, as compared to (-)10.5 per cent forecast earlier. Fitch has also projected the FY22 GDP growth at 11 per cent and 6.3 per cent growth in FY23.

 

2. Nomura Expects India to be fastest growing Asian economy in FY21: The Japanese research and brokerage house Nomura has projected India to be the fastest-growing Asian economy in 2021. Nomura has estimated the gross domestic product (GDP) growth of India for the calendar year 2021 (CY21) at 9.9%. For the calendar year 2020 (CY20), Nomura expects GDP growth at -7.1 per cent.

 

AWARDS AND HONOURS

 

1. Finance Minister Nirmala Sitharaman at 41 on Forbes 2020 list: Finance Minister Nirmala Sitharaman has grabbed the 41st spot in the 2020 list of Forbes 100 most powerful women in the world. This is the second time she features in the list, in 2019 ranked at 34 and ranked 41st in 2020. India’s leading Businesswomen, Kiran Mazumdar-shaw, Chairman of Biocon Limited also featured in the list at 68th position. The list also saw the biggest jump in ranking to 3rd position by Kamala Harris, Vice President-Elect of USA, and Prime Minister of Bangladesh, Sheikh Hasina Wajed is ranked at 39. Here is the list of top 5 personality in the Forbes 100 most powerful women in the world:

Rank	Personality	Profession
1	Angela Merkel	Chancellor, Germany
2	Christine Lagarde	President, European Central Bank
3	Kamala Harris	Vice President-elect, United States
4	Ursula von der Leyen	President, European Commission, European Union
5	Melinda Gates	Co-Chair, Bill & Melinda Gates Foundation
41	Nirmala Sitharaman	Finance Minister of India
68	Kiran Mazumdar-Shaw	Founder, Chair and Managing Director, Biocon Ltd.

Note: Forbes is the 103-year-old American Business Magazine, issued weekly. Editor in Chief: Steve Forbes. First issued in September 1917.

 

OBITUARIES

 

1. Italy’s 1982 World Cup hero Paolo Rossi passes away: Paolo Rossi of Italy, who scored 6 goals in the 1982 World Cup, passed away. He is the only male player in history to win the World Cup, the Golden Boot, the Golden Ball and Ballon d’Or in the same year. In 1982 was Italy’s first victory after 1938.