Daily GK Updates – 19th Dec, 2020

 

NATIONAL UPDATES:

 

1. Maharashtra Government Introduces Unified Development Control Rules for Real Estate: The Government of Maharashtra has approved the Unified Development Control and Promotion Regulations, (UDCPR), to strengthen and bring uniformity in the real estate construction laws of the state. The new set of rules will apply on all municipal corporations, councils and nagar panchayats in the entire state except Mumbai and some neighbouring areas like hill stations, eco-sensitive zones and specified corporation areas. This uniform set of regulations will specify everything from height of buildings to the width of roads and size of amenity spaces. It will help to increase the stock of affordable housing projects and improve ease of doing business as well as help the developers to improve their resource management

 

2. Finance Ministry notifies updated viability gap funding scheme: The Viability Gap Funding (VGF) scheme was notified by the Ministry of Finance under which various infrastructure projects will be selected for financial support to provide a boost to the sector. According to the VGF scheme, the Empowered Committee (EC) chaired by the economic affairs secretary will sanction a funding amount of up to Rs 200 crore, while projects requiring more than Rs 200 crore would be approved by the Empowered Committee, after the approval from the Minister of Finance. The VGF scheme will be known as the ‘Scheme for Financial Support to PPPs’ (Public-Private Partnerships) in the infrastructure sector.This will be a central sector scheme and administered by the Finance Ministry.

 

3. AP CM virtually launches ‘Jagananna Jeeva Kranthi’ scheme: Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy virtually launched ‘Jagananna Jeeva Kranthi’ scheme, under which 2.49 lakh units of sheep and goats will be distributed to women in a phased manner at a cost of ₹1,869 crore. The scheme aims at improving the living standards of women with less investment. Under the scheme, women belonging to the Backward Classes, the Scheduled Castes (SCs), and the Scheduled Tribes (STs) in the age group of 45-60 years would get 2.49 lakh sheep and goat units. Each unit consists of 15 sheep or goats (with one ram or billy) in each unit. The State would facilitate and provide suggestions, in case the women want to buy the sheep and goats on their own.

 

4. Ministry of AYUSH approves 200 AYUSH Health and Wellness Centres in Almora district of Uttarakhand: The Ministry of AYUSH has approved 200 AYUSH Health and Wellness Centres in almora district of Uttarakhand under centrally sponsored scheme of National AYUSH Mission. In  this regard, Arvind Lal Vandana Lal (ALVL) Foundation, New Delhi is providing support to the department of AYUSH, Uttarakhand, in operationalization of AYUSH HWCs in Almora district of Uttarakhand.  The Central Government will provide necessary technical support. The ALVL Foundation will support in Population Enumeration, creation of Health Cards in the catchment population of the HWCs and help in training and capacity building of HWC team. The Central Government has decided to operationalise 12,500 AYUSH Health and Wellness Centres in phased manner by the year 2023-2024 throughout the country.

 

5. Goa Liberation Day: 19th December: Goa Liberation Day is observed on 19 December every year in India and it marks the day Indian armed forces freed Goa in 1961 following 450 years of Portuguese rule. Goa Liberation Day is marked by an abundance of events and festivities in Goa though this time because of the pandemic the celebrations are expected to be muted. A torchlight procession is ignited from three different locations in the state, eventually all meeting at the Azad Maidan.

History of Goa Liberation Day: The Portuguese colonised several parts of India in 1510 but by the end of the 19th-century Portuguese colonies in India were limited to Goa, Daman, Diu, Dadra, Nagar Haveli and Anjediva Island. The Goa liberation movement, which sought to end Portuguese colonial rule in Goa, started off with small scale revolts. On August 15, 1947, when India gained its Independence, Goa was still under the Portuguese rule.

The Portuguese refused to give up their hold over Goa and other Indian territories. Following a myriad of unsuccessful negotiations and diplomatic efforts with the Portuguese, the former prime minister of India, Jawaharlal Nehru, decided that military intervention was the only option. The 36-hour military operation, conducted from December 18, 1961, was code-named ‘Operation Vijay’ meaning ‘Operation Victory,’ and involved attacks by the Indian Navy, Indian Air Force and Indian Army.

Note: Goa Capital: Panaji; Governor of Goa: Bhagat Singh Koshyari; Chief Minister of Goa: Pramod Sawant.

 

INTERNATIONAL UPDATES:

 

1. GoI inks $1-bn loan pact with NDB to support Indian Economy: The Government of India and the New Development Bank (NDB) have signed a loan agreement worth $1,000 million for ‘supporting India’s economic recovery from COVID-19’. The loan has a tenor of 30 years, including a 5-year grace period. The programme will support Indian Government in mitigating the adverse economic impact of COVID-19 pandemic and enable economic recovery in the rural areas. Under the agreement, Shanghai-based NDB will lend financial support for:

(1) The loan will support expenditures on rural infrastructure related to natural resource management (NRM) and rural employment generation under Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).

(2) The programme will support the government in mitigating the adverse economic impact of Covid-19 pandemic and enable economic recovery in the rural areas through natural resource management works which will facilitate economic activity and employment generation to stimulate rural demand.

(3) The programme will improve the livelihood of rural poor along with providing income opportunities to migrant workers who returned home due to job loss caused by Covid-19 pandemic.

Note: New Development Bank Headquarters location: Shanghai, China; New Development Bank President: Marcos Prado Troyjo; New Development Bank Founder: BRICS; New Development Bank Founded: 15 July 2014.

 

2. India and World Bank sign $400 million project to protect India’s poor: The Government of India and the World Bank have signed a $400 million project to protect vulnerable groups in urban and peri-urban areas across the country impacted by COVID-19. This is the second such assistance in the series of two ‘Accelerating India’s COVID-19 Social Protection Response Programme’. Under the first operation, $750 million was approved by World Bank in May 2020.

Under this project: World Bank will support India in its efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic. The programme will strengthen the capability of state and central governments in India to provide coordinated and adequate social protection to the poor and vulnerable from the shocks triggered by the COVID-19 pandemic.

Note: Headquarters of World Bank: Washington, D.C., United States; President of World Bank: David Malpass; World Bank Founded: July 1944.

 

OTHER UPDATES:

 

SPORTS

 

1. Qatar to host 2030 Asian Games, 2034 edition in Saudi Arabia: The 2030 Asian Games were awarded to Doha, Qatar and the 2034 event went to Riyadh, Saudi Arabia after a deal was struck between the rival nations. Doha beat Riyadh for the 2030 Games in the vote at the Olympic Council of Asia’s (OCA) general assembly. The vote took place amid a bitter and long-running political dispute between Saudi Arabia and Qatar. Saudi Arabia is one of four countries which has imposed a trade and travel boycott on Qatar since 2017. The OCA reached a deal to vote on the 2030 host but to give the other candidate the 2034 event.

Note: Olympic Council of Asia Headquarters: Kuwait City, Kuwait; Olympic Council of Asia President: Ahmed Al-Fahad Al-Ahmed Al-Sabah; Olympic Council of Asia Founded: 16 November 1982;  Olympic Council of Asia Motto: Ever Onward.

 

BANKING AND FINANCE

 

1. Canara Bank unveils “FX 4 U” for forex remittance via Internet Banking: Canara Bank has launched FX 4 U that enables its entire internet banking users to handle forex transactions hasslefree. FX 4 U is used for forex remittance through internet banking. With this development, eligible customers will be able to undertake remittance facility in adherence to the FEMA regulations 1999. About FX 4 U:

(1) Once the letter of credit (LC) module is activated, the corporate customers can make and submit LC applications with documents through internet banking.

(2) Corporate customers can make and submit the LC applications along with documents through internet banking once the LC module is activated.

(3) The transactions that are submitted through internet banking will flow seamlessly to the Centralized Process Centre – Forex Transactions(CPCFT), where the Compliance and accounting will be done and transmitted through The Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Note: Syndicate Bank was amalgamated into Canara Bank on April 2020.

Canara Bank Founded: July 1906 by Shri Ammembal Subba Rao Pai; Canara Bank Tagline: Together We Can; Canara Bank MD & CEO: L V Prabhakar; Canara Bank Headquarters: Bangalore, Karnataka.

 

2. Equitas Small Finance Bank launches 3-in-1 account for saving, trading & demat: Equitas Small Finance Bank Ltd, (SFB) has launched a 3-in-1 account, which allows its customers to invest in wide variety of financial product using a single platform. A 3-in1 account (savings +trading+ demat) will help the customers to keep all their banking and financial investments under one umbrella entity. The bank will provide stock broking and demat services through referral arrangement with brokerage firms for trading and depository services. The financial products offered through the 3-in-1 account includes direct equity and F&O trading, MF investment across all AMCs, ETFs, corporate FDs, corporate bonds, government bonds, insurance products, National Pension Scheme (NPS) and initial public offerings.

 

BUSINESS AND ECONOMY

 

1. SBI Ecowrap Report Projects India GDP to contract 7.4% in FY21: The State Bank of India, in its research report ‘Ecowrap’ has revised the GDP growth of India at (-) 7.4 percent in FY21. Earlier this forecast was (-) 10.9 percent. The SBI research report has also forecast India’s GDP growth in FY22 at 11 percent. The report also believes that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms.

Note: Chairman of State Bank of India: Dinesh Kumar Khara; SBI Founded: 1 July 1955; SBI Headquarters: Mumbai, Maharashtra.

 

DEFENCE

 

1. Indian Coast Guard’s OPV ‘Sujeet’ commissioned in Goa: Indian Coast Guard’s (ICG) Offshore Patrol Vessel (OPV) ‘Sujeet’, which is second in the series of 5 OPVs was commissioned at the Goa Shipyard Limited (GSL) in Vasco Town, Goa by Raj Kumar, Secretary (Defence Production). The vessel has been designed and built indigenously by GSL. The 1st ship in series – ICGS (ICG Ship) Sachet was commissioned by Union Defence Minister Rajnath Singh in May 2020. The ship was commissioned in the presence of K Natarajan, Director General of Indian Coast Guard and others. About Sujeet:

(1) Sujeet has been equipped with features like Integrated Bridge System, Integrated platform management system, power management system and high power external fire-fighting.

(2) It is capable of carrying 1 twin-engine helicopter, 4 high-speed boats, 2 inflatable boats for boarding operations, search and rescue, law enforcement and maritime patrol.

(3) The ship will be based at Goa and will be deployed extensively for EEZ (Exclusive Economic Zone) surveillance and other duties.

(4) The ship will be 105 metres long and weigh 2400 tonnes.

(5) At present, ICG has stated that it has 155 ships and 62 Aircraft at its disposal with 35 more ships in various stages of construction at shipyards across India.

Note: Indian Coast Guard (ICG) Director General of ICG: KrishnaswamyNatarajan; Indian Coast Guard Headquarters: New Delhi.

 

OBITUARIES

 

1. South Korean filmmaker Kim Ki-duk passes away: Renowned South Korean filmmaker Kim Ki-duk died of complications from COVID-19 in Latvia. He was 59. Kim K-duk was a South Koren filmmaker who was conferred with various awards for his work. He was the recipient of Golden Lion at 69th Venice International Film Festival and the Silver Lion for Best Director at the 61st Venice International Film Festival. Kim Ki-duk made his directorial debut in 1996 with Crocodile.The late filmmaker’s last release was a Russian film titled Dissolve. The film was screened at the Cannes Film Festival in 2019. Other popular releases of the filmmaker include Spring, Summer, Fall, Winter and Spring, 3-Iron, One on One, Samaritan Girl, Arirang and Pietà.