Daily GK Updates - 31st December, 2019

NATIONAL UPDATES:

1. CACS & e-BCAS launched to enhance security & ease of doing at airports: Minister of State (I/C) for Civil Aviation launched the Biometric enabled Centralised Access Control System (CACS) and ‘e-BCAS Project Training Module’ in New Delhi. The two projects aims to enhance security and ease of doing business at airports.

The CACS project is aimed to digitize the employee movement process at the airports. This multi-layered security system encompasses the uniqueness of the Airport Entry Permit (AEP) users, biometric authentication in addition to PIN-based identity verification through contactless smart card technology.

The ‘e-BCAS’ project envisaged to achieve a “paperless office” under e-Governance initiative of Government of India. The ‘e-BCAS Project: Training Module’ aims to switch from manual process of training to digital platform. The objective of the e-BCAS project is to make all the activities in the BCAS transparent, user-friendly, and efficient. It also intends to provide an ease of doing business with the stakeholders.

Note: Minister of State (I/C) for Civil Aviation: Hardeep Singh Puri.

2. 11-day long ‘Dhanu Jatra’ begins in Odisha: The 11-day long ‘Dhanu Jatra’ begins at Bargarh in western Odisha. Dhanu Jatra is considered as the largest open-air theatre of the world. It is based on the mythological story of Lord Krishna and his demon uncle King Kansa. It is about the episode of Krishna and Balaram’s visit to Mathura to witness the Dhanu ceremony organized by their (maternal) uncle King Kansa.

Note: Dhanu Jatra is the annual drama-based open-air theatrical performance celebrated in and around Bargarh city. The annual festival came into being in 1947-48 to celebrate Indian’s Independence and to symbolize the victory of good over evil.

3. Indian Railways introduces a new Passenger Information System: Indian Railways introduced a new “Passenger Information System” at Anakapalle Railway Station of Vijayawada Division in South Central Railway. The comprises “At a Glance Display Board” which gives a glance of the status of various train timings at the Station and “Coach Guidance Display Board” which provides the Coach Composition position of a train. The application aims to provide better features and easy guidance to the passengers and hence providing satisfactory user experience. The system provides automated display information about the trains expected at the station in the next two hours in Trilingual form i.e. in three languages: Telugu, English and Hindi.

Note: Union Minister of Railways: Piyush Goyal.

4. “India State of Forest Report 2019” released: The Union Minister for Environment, Forest and Climate Change released the biennial “India State of Forest Report (ISFR)”, in New Delhi. The report provides information on forest cover, tree cover, mangrove cover, growing stock inside and outside the forest areas, carbon stock in India’s forests, Forest Types and Biodiversity, Forest Fire monitoring and forest cover in different slopes & altitudes. The report is published by the Forest Survey of India (FSI). The FSI has been mandated to assess the forest and tree resources of the country including wall-to-wall forest cover mapping in a biennial cycle. This is the 16th edition of India State of Forest Report. In comparison to the assessment of 2017, there is an increase of 5,188 sq. km in the total forest and tree cover of the country.

Some key highlights of the report: (1) The total forest and tree cover of the country is 80.73 million hectare. It is 24.56% of the total geographical area of the country. (2) Area-wise, Madhya Pradesh has the largest forest cover in the country. (3) In terms of forest cover as percentage of total geographical area, the top five States are Mizoram (85.41%), Arunachal Pradesh (79.63%), Meghalaya (76.33%), Manipur (75.46%) and Nagaland (75.31%). (4) The top 3 states showing increase in forest cover are Karnataka (1,025 sq. km) followed by Andhra Pradesh (990 sq km) and Kerala (823 sq km).

Note: Union Minister for Environment, Forest and Climate Change: Prakash Javadekar.

OTHER UPDATES:

SPORTS

1. Sarbananda Sonowal launches torch relay of Khelo India Youth Games: Assam Chief Minister has launched the torch relay of the Khelo India Youth Games in Guwahati, Assam. The 3rd edition of the tournament will be held in January 2020. Athletes from all over the country will be coming to Guwahati for the Khelo India Youth Games. The officials of the competition are preparing a total of eight venues for the tournament to make the Games one of the largest sporting spectacles of the country.

Note: Chief Minister of Assam: Sarbananda Sonowal; Governor: Jagdish Mukhi.

2. IOA ends boycott call for 2022 Commonwealth Games: The Indian Olympic Association (IOA) has withdrawn its boycott call for the 2022 Commonwealth Games to be held in Birmingham. The decision was taken during its Annual General Meeting held in New Delhi. The cause of the boycott call was exclusion of shooting. IOA also announced that the country will bid to host either the 2026 or the 2030 edition.

Note: President of Commonwealth Games Federation: Dame Louise Martin; Chief of Indian Olympic Association: Narinder Batra.

BANKING AND FINANCE

1. CBIC paid Rs 1,12,000 crore as IGST refunds to exporters: Central Board of Indirect Taxes and Customs (CBIC) has announced that it has paid Rs 1,12,000 crore as Integrated Goods and Services Tax (IGST) refunds to exporters. According to CBIC, over 83,000 exporters have been benefited by these refunds. The numbers indicated the government’s efforts to fast track refunds under GST especially to exporters. Also, as of now, refunds of only 3,604 crores are pending with Customs. CBIC is using data analytics to identify risky exporter entities that “take input tax credit fraudulently and monetize it by paying IGST and taking refund”. Such exporters are being subject to KYC and verification process before the grant of refund.

Note: Chairman of CBIC: Pranab Kumar Das.

2. Karnataka Grameena Bank signs MoU on sustainable energy solutions: Karnataka Vikas Grameena Bank (KVGB) and SELCO Solar Light Pvt. Ltd. have signed a memorandum of understanding on solar lighting and livelihood solutions. Under the MoU, finance livelihood solutions that are backed by solar power will be provided by the bank. This is done to improve the quality of life of micro and small entrepreneurs, economically weaker sections(EWS), sustainable agriculture and for women’s empowerment. SELCO Solar Light Pvt is a social enterprise that provides sustainable energy solutions to under-served households and businesses.

BUSINESS AND ECONOMY

1. Nirmala Sitharaman unveils ₹102 lakh crore national infrastructure plan: Finance Minister Nirmala Sitharaman announced 102 lakh crore for the National Infrastructure Pipeline. India plans to invest about ₹102 lakh crore in the infrastructure sector in the next five years to achieve the GDP target of $5 trillion by 2024-25. The finance ministry admitted that the availability of quality infrastructure is a pre-requisite to achieve broad-based and inclusive growth on a sustainable basis. Earlier in September, the government had set up a task force headed by Economic Affairs Secretary to prepare a road map for the "national infrastructure pipeline" from 2019-20 to 2024-25 under the ₹100 lakh crore infra plan. The task force was planning a list of 10 major infrastructure projects including greenfield and brownfield projects costing above ₹100 crores each.

2. GoM constituted to expedite revival plan of BSNL & MTNL: The government of India has constituted a seven-member Group of Ministers (GoM) to expedite and oversee the implementation of the Rs 69,000 crore the revival plan of state-owned telecom corporations BSNL and MTNL. The high-level group will expedite the smooth implementation of recent decisions taken on the revival of BSNL and MTNL that includes crucial elements like allocation of 4G spectrum and asset monetization. The GoM includes Defence Minister Rajnath Singh, IT and Telecom Minister Ravi Shankar Prasad, Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Oil Minister Dharmendra Pradhan. In October 2019, the government had approved a Rs 69,000 crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetizing their assets and giving VRS to employees so that the combined entity turns profitable in two years.

DEFENCE

1. S S Deswal given additional charge of DG of CRPF: S S Deswal has been given the “additional” charge to head Central Reserve Police Force (CRPF). The Union home ministry took the decision as CRPF’s serving Director General (DG) R R Bhatnagar retired on 31st December, 2019. S S Deswal is presently serving as the Director General of Indo-Tibetan Border Police (ITBP).

Note: CRPF is India’s as well as the world’s largest paramilitary force with over 3.25 lakh personnel in its ranks. It was raised as the Crown Representatives Police (CRP) in 1939 under the British and post Independence, named as CRPF in 1949.

2. General Mukund Naravane takes charge as new Army chief: On 31st December 2019, General Manoj Mukund Naravane took over as the 28th Chief of Army Staff. He succeeded General Bipin Rawat who retired on 31st December, 2019. He will helm the 1.3 million-strong force at a time India faces evolving security challenges such as cross-border terrorism and an assertive Chinese military along the border.  Earlier, General Naravane was serving as vice chief of the Indian Army. In his 37 years of service, Gen Naravane served in numerous command and staff appointments in peace, field and highly active counter-insurgency environments in Jammu and Kashmir and the Northeast.

Note: Gen Naravane was commissioned into the 7th battalion, the Sikh Light Infantry Regiment in June 1980. He has been awarded the 'Sena Medal' (Distinguished) for effectively commanding his battalion in Jammu and Kashmir. He is also a recipient of the 'Vishisht Seva Medal' for his services as the Inspector General Assam Rifles (North) in Nagaland and the 'Ati Vishisht Seva Medal' for commanding of a prestigious strike corps.

Daily GK Updates - 30th December, 2019

NATIONAL UPDATES:

1. Gen Bipin Rawat named as country’s 1st Chief of Defence Staff: Indian Army General Bipin Rawat has been named as the country’s first Chief of Defence Staff (CDS). The Chief of Defence Staff will be a 4-star General, the principal military advisor to the defence minister, and will head the new Department of Military Affairs. The Chief of Defence Staff will ensure the jointness in training, logistics and procurement of the three services. General Rawat is the first officer to hold the post of the Chief of Defence Staff The Defence Ministry had also amended the army, air force and navy rules by bringing in a new clause that allows the CDS to serve upto a maximum age of 65 years. The CDS will administer all tri-services organisations, but their command will be with the Chief of the service which has a predominant role in their functioning.

2. Port Blair celebrates the 76th Anniversary of First Flag Hoisting: Today, a function has been organized to commemorate the 76th Anniversary of First Flag Hoisting by Netaji Subhas Chandra Bose at Port Blair. Lt Governor Admiral DK Joshi and Minister of State for Health & Family Welfare Ashwini Kumar Choubey hoisted the National Flag at Flag Point, Port Blair. Subhash Mela Committee Swarajdweep organised a bike rally and a cultural programme.

Note: Netaji Subhas Chandra Bose visited Port Blair during the last three days of December 1943. He landed at the Lamba Line airport on December 29, 1943, and left in the early hours of January 1, 1944.

Andaman and Nicobar Capital: Port Blair; Governor: Admiral (ret.) Devendra Kumar Joshi

3. BHEL Commissions Country’s First lignite-based 500 MW Power Project in Tamil Nadu: The State-run BHEL (Bharat Heavy Electricals Limited) has commissioned the first lignite-based 500 MW thermal power plant “Neyveli New Thermal Power Project” in Tamil Nadu. This is India’s first lignite-fired 500 MW power plant as well as highest rating pulverised lignite-fired thermal unit commissioned in the country so far. The project is owned by NLC India Ltd (NLCIL) and located in Cuddalore district of Tamil Nadu. Neyveli New Thermal Power Project is 2 X 500 MW power plant. The second unit of the project is also in an advanced stage of commissioning.

4. India Improves its 2019 Sustainable Development Goals Index score by three positions: NITI Aayog CEO Amitabh Kant launched the Sustainable Development Goals (SDG) India Index 2019-20 on December 30, 2019. This is the second edition of the Sustainable Development Goals (SDG) India Index, which indicates where the country and its States and UTs currently are on SDG implementation. Key points of the Index:

Kerala, Himachal Pradesh, Andhra Pradesh, Tamil Nadu and Telangana are top states on the SDGs Index-2019-20. India has improved its composite score from 57 in 2018-19 to 60 in 2019-20 in the index. None of the States scored below 50 out of 100 score. Uttar Pradesh, Odisha and Sikkim showed maximum improvement. Improvement is credited to major success in water and sanitation, power and industry sector. 14 states have fallen in the overall ranking in the index compared to 2018. The 2019 SDG Index ranked states based on 16 goals across 54 targets spread among 100 indicators drawn from the Ministry of Statistics and Programme Implementation’s National Indicator Framework, comprising 306 indicators.

Note: The 2018 report had 13 goals and 39 indicators. The United Nations SDG has 17 goals spread across 169 targets and 232 indicators

5. Assam Launches Abhinandan education loan subsidy scheme: Assam Chief Minister Sarbananda Sonowal launched the state government’s Abhinandan education loan subsidy scheme to bolster its education infrastructure and urge more students to pursue higher education. Under the scheme, one-time subsidy of Rs. 50,000 will be provided to students who have availed education loans of a minimum of Rs 1 lakh, provided that loan should have been sanctioned before March 31, 2019. There is no minimum income criterion for students to avail of the benefits of this scheme. Under the phase I of the scheme, 1546 students each received the one-time subsidy of Rs. 50,000.

INTERNATIONAL UPDATES:

1. UN General Assembly approves $3.07 billion budget for 2020: The UN General Assembly has adopted the regular operating budget of $3.07 billion ($3,073,830,500) for the United Nations for the year 2020 and for the first time includes funding for the investigation of war crimes in Syria and Myanmar. It is also for the first time since 1973 that the UN is adopting an annual operating budget instead of a two-year. Previously the budgets for the Syria and Myanmar investigations were financed by voluntary contributions but now in 2020, the funding has been transferred to the UN secretariat’s budget and will receive compulsory contributions from the 193 member states. The UN’s operating budget is separate from the annual budget for peacekeeping operations.

2. UN gives green light to draft treaty to combat cybercrime: The UN General Assembly approved a resolution that will start the process of drafting a new international treaty tocombat cybercrime over objections from the European Union, the United States and other countries. The Russian-drafted resolution was approved by the 193-member world body by a vote of 79-60 with 33 abstentions. The resolution establishes an expert committee representing all regions of the world “to elaborate a comprehensive international convention on countering the use of information and communications technologies for criminal purposes”. It says the committee will meet in August 2020 to agree on an outline of its activities.

OTHER UPDATES:

SPORTS

1. Five Indian women boxers book their place for Olympic Qualifiers: Five Indian women boxers booked their place for the Olympic Qualifiers at the Indira Gandhi Stadium in New Delhi. Mary Kom defeated Nikhat Zareen 9-1 in the final bout of the 51kg category while in 57kg Sakshi Chaudhary outclassed her opponent Sonia Lather 9-1. In the 60kg event, Simranjit Kaur won her bout against Sarita Devi in split decision 8-2. In the 69kg and 75kg category, Lovlina Borgohain and Pooja Rani won their respective matches by unanimous decision and registered their spot in the Indian squad. The female boxers competed in six categories. The Olympic Qualifiers Asia-Oceania for the women will take place from February 3 to 14, 2020 in Wuhan, China.

BANKING AND FINANCE

1. No MDR charges will be applicable on transactions through RuPay, UPI platforms from 01 January 2020: The Union Finance Minister Nirmala Sitharaman has announced that no Merchant Discount Rate (MDR) will be applicable on transactions made through RuPay and UPI platforms with effect from 01 January 2020. Also, all companies with a turnover of Rs 50 crore and above will now be mandated to provide the facility of payment through RuPay Debit card and UPI QR code to their customers.

Note: Merchant Discount Rate (MDR): The cost paid by a merchant to a bank for accepting payment from their customers via digital means. It is expressed in percentage of the transaction amount.

BUSINESS AND ECONOMY

1. Swiggy launches own digital wallet, to credit refunds for now: The Bengaluru-headquartered company has launched its own wallet– Swiggy Money. According to a notification in its FAQ (frequently asked questions) column, the wallet will initially be used to credit amounts for the cancelled orders. Later, however, Swiggy Money will function as a usual digital wallet to store money and for transactions on the platform. The Meituan-backed firm’s wallet is powered by ICICI Bank and is a fully Reserve Bank of India (RBI)-compliant Prepaid Payment Instrument. This essentially means that users have to complete a minimum KYC (know your customer) by entering government-issued identification information to use the service. With minimum KYC, a Swiggy Money user can transact up to Rs 10,000 while a full KYC allows the user to load up to Rs 1 lakh at any given time. The wallet, which is currently available on food orders, will soon be opened up for Swiggy Pop, Swiggy Stores and Swiggy Go.

2. Ashok Leyland, Citicorp Finance ink MoU for commercial vehicles’ financing: Hinduja Group’s flagship firm Ashok Leyland o stated it has partnered with Citicorp Finance India Ltd for financing commercial vehicles. The company has signed a memorandum of understanding (MoU) with Citicorp Finance to enter into a strategic financing partnership for two years, to offer customised financial solutions to customers across India. Under the MoU, Citicorp Finance will be a preferred financier for providing finance to the customers buying Ashok Leyland vehicles. Citicorp Finance will work in close coordination with the authorised dealers of Ashok Leyland to provide financial solutions to customers, the statement

Note: Ashok Leyland (ALL) Headquarters: Chennai, Tamil Nadu; Parent organization: Hinduja Group; Founder: Raghunandan Saran

YES Bank Formation: 2004; Headquarters: Mumbai, Maharashtra; CEO & MD: Ravneet Gill

AWARDS AND HONOURS

1. UN Declares Malala Yousafzai as ‘Most Famous Teenager Of Decade’: Malala Yousafzai (also known as Malala) has been named as “the most famous teenager in the world” by the United Nations (UN) in its ‘decade in review’ report. Malala Yousafzai is the Pakistani activist for female education and the youngest Nobel Peace Prize (2014) laureate. The report covers a decade of major events happened between 2010 and the end of 2013, celebrities and agreements that have become most famous. The report includes big news such as the devastating earthquake in 2010 in Haiti (a Caribbean country), the conflict that began in Syria in 2011 & Malala’s work in favour of girls’ education for the year 2012.

OBITUARIES

1. Nagaland Assembly Speaker Vikho-o Yhoshu Passes Away: Nagaland Legislative Assembly Speaker Vikho-o Yhoshu passed away due to lung cancer. He was 69. Nationalist Democratic Progressive Party leader Vikho-o Yhoshu was elected as the Speaker of the 13th Nagaland Legislative Assembly in March 2018.

Daily GK Updates - 29th December, 2019

NATIONAL UPDATES:

1. Haryana to Observe the Year 2020 as Susashan Sankalp Varsh: Haryana Chief Minister Manohar Lal Khattar has announced to observe the year 2020 as “Susashan Sankalp Varsh”. As a part of this, suggestions and reforms in the field of governance would be invited from people of the State He dedicated a website would also be prepared on which the people could upload their suggestions. Besides this, CM Manohar Khattar also launched five new e-initiatives:

(1) Lokayukta portal; (2) Addition of 42 new schemes and services on the dedicated Saral portal, taking the number of such schemes and services to 527; (3) Launch of websites of all 22 districts in the state; (4) Integration of 91 Tehsils to Web Helris (‘Web-Helris’ is a web-enabled integrated solution for deed registration and land records management); (5) Digital map of village Sirsi (district Karnal), making it first village in the State to become ‘Lal Dora free’.

Note: Haryana Capital: Chandigarh; CM: ManoharLalkhattar; Governor: Satyadev Narayan Arya

2. Bihar CM Nitish Kumar unveils life-size statue of Arun Jaitley in Patna: Bihar Chief Minister Nitish Kumar unveiled a life-size statue of former Union Minister Arun Jaitley (28 December 1952– 24 August 2019) at Kankarbagh area in Patna, Bihar on his birth anniversary on December 28, 2019. The state shall henceforth observe Jaitley’s birth anniversary as a state function every year.

3. Hemant Soren sworn in as Chief Minister of Jharkhand: Jharkhand Mukti Morcha (JMM) leader Hemant Soren (44-years) took oath as the 11th Chief Minister of the state. Jharkhand Governor Draupadi Murmu administered the oath of office to Mr Soren at Morhabadi grounds in Ranchi. Along with Mr. Soren, Congress Legislature Party Leader Alamgir Alam, Rameshwar Oraon (state Congress president) and Satyanand Bhokta (RJD-MLA) were also sworn in as state cabinet ministers. Earlier, Hemant Soren had served as the 5th Chief Minister of Jharkhand (13 July 2013 – 28 December 2014). In the 81-member Jharkhand Assembly, JMM-Congress-RJD alliance has won 47 seats in the recently concluded Assembly elections and BJP - 25 seats.

Note: Jharkhand Capital: Ranchi

4. Madhya Pradesh: Mandu festival starts in Mandu: Five-day event ‘Mandu Festival’ (1st- edition) kicked-off at Mandu, a world-famous picturesque tourist destination located in Dhar district of Madhya Pradesh. Mandu Festival’ has been organised by Madhya Pradesh Tourism Board to dive deep into the rich history of the city. Based on the idea of ‘Khojne Me Kho Jao’, the Mandu festival is offering an eclectic mix of performing arts, workshops, nature trails, food, architecture and music to the visitors. Visitors can also explore the trail on cycling tours, walking tours or jump onto the Hop-In-Hop-Out buses to dive deep into the rich history of the city.

Note: Madhya Pradesh Capital: Bhopal; CM: Kamal Nath; Governor: Anandhiben Patel

5. HM Amit Shah lays Foundation Stone of India’s First transit-oriented development project ‘East Delhi Hub’: The Union Home Minister Amit Shah laid the foundation stone for India’s first transit-oriented development (TOD) project in New Delhi, under which a state-of-the-art infrastructure zone will be constructed. The TOD infrastructure project has been titled as ‘East Delhi Hub’. The project will be developed at Karkardooma area spread over an area of 30 hectares and will come in the next three and a half years. It will include a 48-storey signature tower, which will become Delhi’s tallest tower. The project will be implemented by National Buildings Construction Corporation (NBCC).

INTERNATIONAL UPDATES:

1. Astronaut Christina Koch records longest single spaceflight by woman: NASA Astronaut Christina Koch has created a record for the longest single spaceflight by a woman. She has surpassed the earlier record of 288 days in space which was previously established by NASA astronaut Peggy Whitson in 2017. She would return to Earth in February 2020. Till then, she would have spent more than 300 days in the space. She is onboard the International Space Station since 14th March 2019.

Note: The world record for the single longest mission by any space explorer whether man or woman, is held by cosmonaut Valery Polyakov, who spent 438 consecutive days on board Russia’s former space station Mir from January 1994 to March 1995.

Headquarters of NASA: Washington, D.C; Established: July 29,1958.

2. UAE extends 300 million US dollars of development aid to Jordan: The Abu Dhabi Fund for Development (ADFD) announced that it is providing 300 million US dollars as development aid to the Hashemite Kingdom of Jordan. In a statement the UAE government stated that the UAE leadership’s decision reaffirms the commitment to standing alongside the brotherly leadership and people of Jordan, reflecting the nation’s foreign policy that carries the legacy of the late Sheikh Zayed bin Sultan Al Nahyan and continues under the leadership of President Sheikh Khalifa. Thousands of refugees have been pouring into Jordan to escape Syria’s civil war. Syria shares the northern border with Jordan. According to an UN estimate the Hashemite kingdom hosts about 630,000 Syrian refugees while Jordan claims that the number is over 4 million.

Note: UAE Capital: Abu Dhabi; Currency: United Arab Emirates dirham; President: Khalifa bin Zayed Al Nahyan

Jordan Capital: Amman; Currency: Jordanian dinar; Prime minister: Omar Razzaz

OTHER UPDATES:

SPORTS

1. Australia paceman Peter Siddle retires from international cricket: Australian pace bowler Peter Siddle has announced his retirement from International Cricket. In his career of 11 years, he represented Australia in 67 Tests, 20 ODIs and 2 Twenty20 matches. He took 221 wickets in 67 Test matches. He started his International Cricket career against India in 2008.

2. Koneru Humpy becomes Women's World Rapid Chess Champion: Indian grandmaster Koneru Humpy (32 years) has become the 2019 Women's World Rapid Champion. She defeated China's Lei Tingjie in a dramatic final in Moscow, Russia. After losing the opening game, Humpy made an impressive comeback and collected nine points each in 12 rounds to be tied with Tingjie. China’s Lei Tingjie won the silver and Ekaterina Atalik of Turkey settled with bronze. Humpy is only the second Indian to win the rapid gold in the current format after Vishwanathan Anand who won it in 2017. Norway's Magnus Carlsen claimed the men's title.

BANKING AND FINANCE

1. Finance Minister launches an e-auction platform “eBkray”: Finance Minister has launched an e-auction platform “eBkray“. The platform will enable online auction of attached assets by banks. The platform provides navigational links to all PSB e-auction sites, property search feature. It also presents single-window access to information on properties up for e-auction, comparison of similar properties, and also contains videos and photographs of the uploaded properties.

Note: Union Finance Minister: Nirmala Sitharaman.

2. SBI to implement OTP-based ATM cash withdrawals from January 1, 2020: State Bank of India will introduce One Time Password (OTP)-based ATM cash withdrawals. The step has been taken to reduce the occurrences of unauthorised transactions happening at ATMs. SBI will introduce one-time password for every cash withdrawal of Rs 10,000 and above between 8 am and 8 pm. The OTP-based cash withdrawal will be effective from January 1, 2020 across all SBI ATMs. When an SBI cardholder will enter the amount of cash he/she wishes to withdraw, a screen will appear asking for the OTP. The customer will then have to put the OTP that the bank will send to the registered mobile number.

Note: Chairperson of SBI: Rajnish Kumar; Headquarters: Mumbai; Founded: 1 July 1955.

3. RBI appoints J&K Bank as Lead Bank Convenor for UT of J&K: The Reserve Bank of India (RBI) has appointed Jammu & Kashmir Bank Ltd. as the UTLBC (Union Territory Lead Bank Convenor) for the newly carved out Union Territory of Jammu and Kashmir. State Bank of India (SBI) will be the lead convenor bank for Union Territory of Ladakh.

Note: SBI Founded: 1 July, 1955; Headquarters: Mumbai, Maharashtra; Chairperson: Rajnish Kumar.

BUSINESS AND ECONOMY

1. HDFC Life partners with Paytm to expand its distribution: HDFC Life Insurance has partnered with Paytm to expand its distribution. The partnership is aimed to enable customers of Paytm to purchase insurance products from HDFC Life. HDFC Life Insurance is constantly exploring opportunities to create and sustain new partnerships to strengthen its distribution network. With the partnership, HDFC Life Insurance aims to increase insurance penetration in India and to simplify the customers experience right from the purchase to the claim process.

2. Mastercard signs agreement to acquire RiskReckon: Mastercard has announced an agreement to acquire RiskRecon. RiskRecon is one of the leading providers of data analytics solutions and artificial intelligence focused on cyber-risk and security and offering solutions to mitigate cyber risks faced by the companies. The acquisition would enhance the cyber-security systems for MasterCard which offers payment processing services on a global scale.

Note: CEO and Co-Founder of RiskRecon: Kelly White.

3. IMF Retains India’s Growth Forecast at 6.1% for FY20: The International Monetary Fund (IMF) in its latest report has retained India’s economic growth forecast at 6.1% for FY20. IMF’s projection is much higher than those by most agencies for FY20.

Reserve Bank of India (RBI): 5%.

Standard & Poor’s: 5.1%.

Moody’s: 4.9 %

Fitch’: 4.6 %

Note: The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C. (United States). The IMF (Created in 1945) is governed by and accountable to the 189 countries that make up its near-global membership.

AWARDS AND HONOURS

1. Aayushi Dholakia becomes first Indian to win Miss Teen International 2019: India’s Aayushi Dholakia has won the 2019 Miss Teen International by beating participants from 22 countries. She was crowned by the previous year winner Odalys Duarte of Mexico. With this, she became the first Indian as well as Asian to win the title in the 27 years history of the beauty pageant. Yessenia Garcia (Paraguay) came as the First Runners-Up and Anicia Gaothusi from Botswana came as the Second Runners-Up.

Note: The 27th edition of the Miss Teen International pageant 2019 was held at the JaiBagh Palace in Jaipur, India.

2. Srikkanth & Anjum Chopra to receive BCCI’s CK Nayudu Lifetime Achievement Award 2019:

Former India captain Krishnamachari Srikkanth (a member of the 1983 World Cup-winning team) has been named as the recipient of the prestigious CK Nayudu Lifetime Award for the year 2019. Former India women’s captain Anjum Chopra (42-year) is the co-recipient of the lifetime achievement award for the year 2019. The 60-year-old Srikkanth played 43 Tests, scoring 2062 runs with two hundred and 12 half-centuries. They will be conferred with the Lifetime Achievement award for their contributions to Indian cricket. They will receive the award during the BCCI Annual Award function in Mumbai on 12th January 2020.

DEFENCE

1. Home Minister lays foundation stone of CRPF Headquarters in New Delhi: Union Home Minister laid the foundation stone of Directorate General Building of Central Reserve Police Force (CRPF) in New Delhi. The new building at a cost of Rs 280 crore will have all modern facilities and green amenities. It will also have effective control and command system with modern training modules for 3.5 lakh strong force to enhance their operational capability. The Home Minister also launched a new logo “Garud” for those engaged in providing security to the common man and VIPs.

Note: Director General CRPF: Rajeev Rai Bhatnagar.

Union Home Minister: Amit Shah.

2. New Delhi hosts 49th Border Coordination Conference between BSF & BGB: 49th Border Coordination Conference between border guarding forces of India and Bangladesh was held in New Delhi. The Indian delegation was headed by DG Border Security Force Vivek Kumar Johri and the Bangladesh delegation was headed by DG of Border Guards Bangladesh (BGB) Md Shafeenul Islam. The conference focused on co-operation in Border Guarding and Border Management between the two forces. During the conference, both forces agreed to make all possible efforts to curb the menace of cattle smuggling or any other criminal activity and to ensure tranquility on the borders.

Note: Director General of Border Security Force: Vivek Kumar Johri.

Bangladesh Capital: Dhaka; Currency: Taka; PM: Sheikh Hasina.

OBITUARIES

1. Vishwesha Tirtha Swami of Pejawar Mutt passes away: Vishwesha Theertha Swami of Pejawar mutt (88-years) passed away in the coastal town of Udupi in Karnataka. He was ordained as a monk at the age of eight in 1938, as the 33rd seer in the linage or ‘guru parampara’ of the Pejawar Mutt. Vishwesha Tirtha Swami made history by becoming the only seer among the seers of the Ashta Mutts (eight mutts) of Udupi, which propagate the Dwaita philosophy, to have performed five biennial Paryayas. He had established Poornaprajna Vidyapeetha in Bangalore which has completed over 63 years.

Daily GK Updates - 28th December, 2019

NATIONAL UPDATES:

1. “National Symposium of Poets 2020” organized by All India Radio: All India Radio organized the National Symposium of Poets 2020. Select poets of all 22 languages recognized in the constitution participated in the symposium. It is being held every year since 1956. The poets from all corners of the country gave their presentations and captivated the hearts of the people during the symposium. The symposium will be broadcasted on the eve of Republic Day and at all the centers of AIR.

Note: Chairman of Prasar Bharti: A. Surya Prakash.

2. Raksha Mantri launches DefExpo 2020 mobile app: Defence Minister Rajnath Singh launched the mobile app of the forthcoming DefExpo 2020 to be held in Lucknow, Uttar Pradesh. The app has been developed by Department of Defence Production, Ministry of Defence (MoD). It provides detailed information about the daily events, participating exhibitors, Defence Public Sector Undertakings (DPSUs), guest speakers of seminars/webinars, publications, and directions of the venues and city weather. The main features of the app constitutes inform, engage and feedback. According to the senior officials, a record number of over 880 exhibiters (including foreign companies) have registered so far.

3. National Tribal Dance Festival begins in Raipur: Congress leader Rahul Gandhi has inaugurated the National Tribal Dance Festival in Raipur, Chhattisgarh. The National Tribal Dance Festival is being organized in Chhattisgarh for the first time. More than 1300 participants from 25 states & UTs of the country and six countries are participating in this three-day dance fest. Nearly 1,400 artists belonging to 151 art troupes from 23 states and guest artists from six countries including Sri Lanka, Belarus, Uganda and Bangladesh will participate in this tribal folk cultural programme.

4. Ladakhi New Year being celebrated: Newly born Union Territory (UT) Ladakh is celebrating Losar Festival, to mark the Ladakhi New Year. People of various parts of Ladakh region, celebrate Losar on the 1st Day of the Eleventh Month of Tibetan Calendar correlating to a date in the Gregorian calendar. The celebrations continue for three to nine days in different parts of Ladakh. Losar Festival celebrations include making symbolic meals and offerings to God and Goddess. Dough Models of Sun, Moon, Sheep, Goats, Ibex and Antelope are kept in kitchen shelves for a good omen. This year, it will be joyous Losar festival celebrations in the newly born Union Territory Ladakh.

5. Dharmendra Pradhan flags off Bhubaneswar-New Delhi Rajdhani Express showcasing Odisha's heritage: Bhubaneswar-New Delhi Rajdhani Express depicting Odisha's Art and culture flagged off by Union Minister Dharmendra Pradhan. The train has been draped in high-quality designs on vinyl wrapping showcasing dance forms, archaeological monuments, traditional Pattachitra, and flora and fauna of Odisha. East Coast Railway (ECoR) and National Aluminium Limited Company (NALCO) had signed an agreement in this regard. Mr. Pradhan also launched unreserved train tickets in Odia language, which will be available at 317 stations across the state.

6. India's first university for the transgender community to come up in UP: The country's first university for the transgender community will be opened in Uttar Pradesh's Kushinagar district. It will facilitate its members to study right from class one to PG and even do research and get a PhD degree. The university is being built by the Akhil Bhartiya Kinnar Siksha Seva Trust (All-India transgender education service trust).

7. A book titled “Politics of Opportunism” released by S Gurumurthy: Noted Economist and Political Analyst S Gurumurthy released a book titled “Politics of Opportunism: Regional Parties, Coalitions, Centre-State Relations In India” at a function in New Delhi. The book was written by R P N Singh which throws light on the subject related to the rise of regional parties and Centre -States relation. On the occasion, Mr Gurumurthy shared his views on the politics of opportunism. RNP Singh is a former officer of the Intelligence Bureau, Government of India. He has also earned the coveted Presidents Police Medal, Indian Police Medal, the Sukriti and Kautilya awards for his distinguished services.

INTERNATIONAL UPDATES:

1. MEA includes Madagascar, Comoros in Indian Ocean Division: Ministry of External Affairs (MEA) has included Madagascar and Comoros in the Indian Ocean Region Division, which looks after India's maritime neighbours such as Sri Lanka, Maldives, Mauritius and Seychelles. Earlier these two island nations were looked after by East and South Africa Division of the MEA. The recent step reflects the growing strategic importance of the Indian Ocean islands within the framework of Indo-Pacific. Seychelles, Mauritius, Madagascar, Comoros along with Reunion (French territory) are known as Vanilla Islands and are members of the Indian Ocean Commission.

2. Pakistan receives second tranche of USD 452 mn from IMF: Pakistan on received USD 452.4 million as a second tranche of the USD 6 billion loans from the International Monetary Fund (IMF). The release of the second tranche amounting to over USD 452 million showed the IMF's confidence over the government's economic policies. The IMF had approved the second tranche of the loan for Pakistan under the USD 6 billion Extended Fund Facility in a meeting of its executive board in Washington on December 20. Pakistan had received the first tranche from IMF under its loan program in July.

3. China launches its largest carrier rocket “Long March-5”: China has successfully launched its largest carrier rocket “Long March-5“. The rocket was launched from Wenchang Space Launch Center in south China’s Hainan Province. The rocket is also known as CZ-5. It was China’s third attempt to launch the rocket. The Chinese rocket carried the Shijian-20 satellite, a communication satellite and placed it into its designated orbit. The Shijian-20 satellite will lay the foundation for the development of highly sensitive space probes. It is China’s heaviest and most advanced communications satellite in geosynchronous orbit.

Note: Capital of China: Beijing; Currency: Renminbi.

4. Russia deploys its 1st Avangard Hypersonic missile system: Russia’s 1st missile unit equipped with Avangard Hypersonic glide vehicle enters into service. Russia’s defence ministry stated that a new hypersonic weapon with latest strategic missiles of intercontinental range has became operational. The nuclear-capable missiles can travel more than 20 times the speed of sound. They have a “glide system” that affords great manoeuvrability and could make them impossible to defend against. The Avangard can carry a nuclear weapon of up to 2 megatons. Avangard is designed using new composite materials to withstand temperatures of up to 2,000 Celsius resulting from a flight through the atmosphere at hypersonic speeds.

Note: President of Russia: Vladimir Putin; Capital: Moscow; Currency: Russian Ruble.

OTHER UPDATES:

SPORTS

1. Boxer Sumit Sangwan banned for one year for consuming prohibited substance: Former Asian Games silver medalist boxer Sumit Sangwan has been banned for one year with immediate effect by the National Anti Doping Agency (NADA) for failing a doping test. Sangwan's sample was collected by the body on October 10 during the Elite Men Boxing Championship. The governing body for the anti-doping in sports announced its decision. The boxer who was set to appear for the Tokyo Olympics 2020 and was named in the Olympics Qualifiers list will surely miss the event.

BANKING AND FINANCE

1. RBI directs large UCBs to report exposures above Rs 5 cr to CRILC: The Reserve Bank of India has directed large cooperative banks to report all exposures of Rs 5 crore and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress. The aggregate exposure will include all fund-based and non-fund based exposures like partial credit enhancement, including investment exposure on the borrower. As per the new rules, Urban Cooperatives Banks are required to submit CRILC report on quarterly basis with effect from December 31, 2019. The CRILC was created by the Reserve Bank of India. CRILC constitutes commercial banks, all India financial institutions and certain non-banking financial companies with multiple objectives, which, among others, include strengthening offsite supervision and early recognition of financial distress.

AWARDS AND HONOURS

1. Dr. Santosh G Honavar conferred with AAO Life-Time achievement award: India's ophthalmologist Dr Santosh G Honavar has conferred with American Academy of Ophthalmology's (AAO) highest award Life Achievement honour that is given to its members. Dr Honavar is the first Indian chosen for the honour. Currently, Dr Honavar heads the Department of Ophthalmic Plastic Surgery and Ocular Oncology and National Retinoblastoma Foundation at Centre for Sight, Hyderabad.

Note: American Academy of Ophthalmology (AAO) is the world's largest association of eye specialists.

DEFENCE

1. IAF bids farewell to the iconic “MiG-27” fighter aircraft: The Indian Air Force bids farewell to the iconic “MiG-27” with a decommissioning ceremony at the Jodhpur air base. The Mig 27 is a soviet origin aircraft that was built under licence by HAL and became a part of the IAF strike fleet in 1985. The jet contributed significantly in wars and peace-keeping operations and also emerged as the real hero in the 1999 Kargil war. Its contribution in the Kargil war earned it the title ‘Bahadur’.

OBITUARIES

1. Veteran Political cartoonist Vikas Sabnis passes away: Veteran Political cartoonist Vikas Sabnis (69-years) passed away in Mumbai due to cardiac arrest. Inspired by Bal Thackeray and RK Laxman, he had started his career in 1968. Since then, for over 50 years, Sabnis has worked as a staff cartoonist at various newspapers, including The Times of India and the Mid-day. He made caricatures and political cartoons on various subjects and issues.

2. Renowned Hindi author Ganga Prasad passes away: Renowned Hindi author Ganga Prasad Vimal (80-years) passed away in a road accident in southern Sri Lanka. He was born in 1939 in Uttarkashi, in Uttarakhand. Mr. Vimal wrote more than one dozen poetry collections, short story collections and novels. His last novel, Manushkhor, was published in 2013.

Daily GK Updates - 27th December, 2019

NATIONAL UPDATES:

1. HRD Minister launches five documents developed by UGC: The Union Human Resource Development Minister launched the 5 documents developed by UGC covering the 5 verticals of Quality Mandate in New Delhi. These 5 documents cover evaluation reforms, eco-friendly and sustainable university campuses, human values & professional ethics, faculty induction and academic research integrity. These 5 documents help to improve the quality in Higher Educational Institutions, University Grants Commission has adopted the Higher Education Quality Improvement Programme Mandate.

On the occasion, the HRD Minister also mentioned SATAT and MulyaPravah, both frameworks of the UGC. MulyaPravah is the Guidelines for Inculcation of Professional Ethics and Human Values in the higher education institutions While SATAT is a Sustainable and Eco-Friendly Framework for Campus development in higher education institutions that encourages universities to adopt sustainable methods and to practice policies that enhance the environment quality in the campus of the universities.

Note: Union Human Resource Development Minister: Ramesh Pokhriyal ‘Nishank’.

2. Indian Railways unveiled Him Darshan Express: Indian Railways has unveiled ‘Him Darshan Express’ comprising all-new Vistadome coaches from Kalka railway station to Shimla. This special train will commute between the Kalka and Shimla station for the next year till December 24, 2020. Modified in carriage and wagon depot at Kalka, this is a first-of-its-kind train on the Kalka-Shimla route. The train will have seven coaches including one first-class sitting cum luggage room coach (FCZLR) and six first-class AC Vistadom coaches. Him Darshan Express will be the first-ever train with Vistadome coaches by the Indian Railways that will run on a regular basis. The train will follow the concept of individual seat charter services via Passenger Reservation System (PRS) and various other online modes.

Note: Railway Minister: Piyush Goyal.

3. Dr. Harsh Vardhan inaugurates 2nd Edition of “Eat Right Mela”: The Union Minister of Health & Family Welfare, Dr. Harsh Vardhan has launched the second edition of the ‘Eat Right Mela’ at Jawahar Lal Nehru Stadium in New Delhi. The ‘Eat Right Mela’ is an effort to encourage citizens on having a healthy diet and reduce the disease burden in the country. The theme of the event is ‘Healthier Diets’. Organized by the Food Safety and Standards Authority of India (FSSAI) and National Association of Street Vendors of India, the Eat Right Mela is a commendable effort and outreach activity for citizens to nudge them towards eating right.

The Union Minister launched ‘The PURPLE Book’ a handbook on diets for diseases. The Union Minister also launched NetSCoFAN (Network for Scientific Co-operation for Food Safety and Applied Nutrition), a network of research & academic institutions working in the area of food & nutrition along with the NetSCoFAN directory, covering detailed information of various heads/Directors and lead scientists of lead and associated partnering institutions.

Note: Union Health Minister: Dr Harsh Vardhan; Chairperson of FSSAI: Rita Teaotia; Chief Executive Officer of FSSAI: Pawan Kumar Agarwal.

The first ‘Eat Right Mela’ was launched in New Delhi in December 2018.

4. India set to cross 100GW renewable energy capacity mark in 2020: India is all set to cross the 100GW renewable energy capacity mark in 2020 and can make rapid strides towards the ambitious 175GW clean energy target by 2022. The government, however, needs to promote storage to ensure 24X7 clean energy supply as coal-fired thermal power still remains the base load in the country. India's installed renewable energy generation capacity touched around 86GW by November-end. This includes solar, wind, small hydro, biomass, waste to energy and others.

5. FM releases stamp to commemorate DRI’s role: Finance minister of India released a postage stamp to commemorate distinguished service and glorious contribution of Directorate of Revenue Intelligence (DRI) in protecting the nation. DRI plays an immense role to counter smuggling and preserve cultural heritage and environment of the country. It is essential for DRI to keep pace with technologies such as data analytics to fight against contraband items such as gold and narcotics. Contraband is good that is against the law to trade or to import or export.

Note: The Union finance minister of India: Nirmala Sitharaman.

6. Book to chronicle India’s Olympic journey: The book titled “Dreams of a Billion: India and the Olympic Games” author by Boria Majumdar with Nalin Mehta released. The book will be published by HarperCollins India in January 2020. The book comprises of all the wins, the misses, the star sportspersons, their stories, and the challenges and possibilities that lie ahead of India to make its mark in the 2020 Tokyo Olympics. The book provides an inside view of what goes on backstage in the Indian Olympics world alongside a quick history of how India has fared at the Olympics over the past century and a look at how the Indian Olympics world has changed in the last decade.

INTERNATIONAL UPDATES:

1. 5th round of India-Japan Maritime Affairs Dialogue: The 5th Round of India-Japan Maritime Affairs Dialogue was held in Tokyo, Japan. The two sides exchanged views on various topics of mutual interest in the maritime domain and identified the means for further strengthening their maritime cooperation. Both sides reiterated the importance of the Dialogue as an important mechanism between the two countries for consultations on issues of mutual interest in maritime affairs and agreed to hold the next round of the Dialogue on a mutually convenient date in India. The first round of India-Japan Maritime dialogue was held in New Delhi in 2013.

Note: Japan Capital: Tokyo, Currency: Japanese yen, PM: Shinzo Abe.

2. China, Iran, Russia to hold joint naval drills in the Gulf of Oman: China, Russia, and Iran will hold trilateral naval exercises in the Gulf of Oman from 27th December to 30th December 2019.

This will be the first such move by the three countries in the volatile Middle East. The Chinese Navy has sent a guided-missile destroyer to participate in the drills. The exercise aims to deepen the exchanges and cooperation between the navies of the three countries and demonstrating the goodwill and ability of the three parties to jointly maintain world peace and maritime security.

Note: The Gulf of Oman borders Iran and Pakistan on the north, Oman on the south, the United Arab Emirates on the west and faces the Gujarat coast.

OTHER UPDATES:

SPORTS

1. Abhinav Lohan wins Bengaluru Open Golf Championship: Abhinav Lohan has won the Bengaluru Open Golf Championship 2019 powered by Karnataka Tourism. This was Lohan’s first title on the TATA Steel PGTI. Chandigarh’s Karandeep Kochhar with 71 finished runner-up at 12-under-276. Bengaluru duo of M Dharma and Rahil Gangjee 71 won third and fourth places with totals of 11-under-277 and 10-under-278. Lohan became the fourth Indian golfer to register his maiden title on the TATA Steel PGTI this season following the likes of Kshitij Naveed Kaul, Priyanshu Singh, and Veer Ahlawat.

BANKING AND FINANCE

1. Federal Bank ties up with Magicbricks: Private sector lender Federal Bank has tied up with online real estate platform Magicbricks for listing and e-auctioning of immovable properties repossessed by it in recovery proceedings. The move is aimed at speedy recovery of the bank’s impaired assets while helping customers get the best rate in the market for their properties. The bank has got into a pan-India arrangement with the housing portal in order to recover dues in 30 major accounts amounting to Rs 50 crore in the fourth quarter of this year. Under the deal, Federal Bank will leverage on Magicbrick’s reach across demographic profiles and consumer categories, removing any geographical restrictions for buyers.

Federal Bank Establishment: 1939 (as Travancore Federal Bank); December 1949 (Federal Bank); Headquarter: Kochi, Kerala; Managing Director & Chief Executive Officer: Shyam Srinivasan.

2. Kotak Mahindra Bank partners with Pine Labs to enable EMIs on debit cards: Kotak Mahindra Bank has tied up with Pine Labs to enable debit card facility for their debit cardholders across point-of-sale terminals by Pine Labs. This arrangement enables over 10 million eligible Kotak debit card customers to pay for their purchases in easy installments through the Pine Labs POS terminals. Banks customers can avail EMI facility with a minimum purchase of Rs 8,000 and repay over 3 months to 12 months. Its aim is to provide affordable, flexible and easy EMI options on a range of products so that bank’s customers can break their high-value purchases into affordable instalments at no extra cost.

Note: Kotak Mahindra Bank Establishment: 2003; Headquarters: Mumbai, Maharashtra; Managing Director & Chief Executive Officer: Uday Kotak.

3. GoI to infuse Rs 8,655 crore into Allahabad Bank, IOB & UCO Bank: The Government of India has approved the release of Rs 8,655 crore as fresh capital to three public sector banks. The list includes Allahabad Bank, Indian Overseas Bank (IOB) and UCO Bank. The infusion will be done for preferential allotment of shares. Fresh capital amounting to Rs 2,153 crore will be allocated to Allahabad Bank, Rs 2,142 crore to UCO Bank and Rs 4,630 crore to Indian Overseas Bank (IOB) for preferential allotment of shares.

Note: MD & CEO of Indian Overseas Bank: Karnam Sekar; Chairman of UCO Bank: Atul Kumar Goel.

4. RBI caps lending on P2P platforms at Rs 50 lakh: The Reserve Bank of India has capped the permissible exposure limit of a lender on a Peer-to-Peer lending (P2P) platform for all borrowers. The aggregate exposure has been set at Rs 50 lakh at any given point of time. The step has been taken to protect the consumers interest. The lender investing more than Rs 10 lakh across P2P platforms has to produce a certificate to P2P platforms from a practising Chartered Accountant certifying minimum net-worth of Rs 50 lakh.

Note: RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

5. RBI launches new PPI for small digital transactions: In order to the digital transaction in India, the Reserve Bank (RBI) has introduced a new semi-closed Prepaid Payment Instrument (PPI). The new PPI can be used for the transaction of goods and services up to a limit of Rs 10,000. This direction was made under Section 18 read with Section 10(2) of Payment and Settlement Systems Act, 2007. These PPIs will enhance the digitization of daily payments at local shops and retail outlets for the purchase of daily household goods and services. The PPIs may be issued as cards, wallets, and any such form/instrument which can be used to access the PPI and to use the amount therein. PPIs in the form of paper vouchers shall no longer be issued.

6. P R Ravi Mohan Appointed Chairman of ESAF Small Finance Bank: P R Ravi Mohan has been appointed as the new chairman of ESAF Small Finance Bank. He succeeds R. Prabha. Earlier, he headed the Banking Supervision Department of Reserve Bank of India. ESAF Small Finance Bank was incorporated on May 5, 2016, with its registered office in Thrissur, Kerala.

7. RBI sets ₹50-lakh lending cap on NBFC-P2P platforms: In order to protect the consumers' interest, the Reserve Bank of India (RBI) has set a ₹50-lakh cap on the aggregate exposure of a lender to all borrowers across all Non-Banking Financial Company – Peer to Peer (NBFC-P2P) lending platforms at any point of time. Further, the RBI has specified that the investments of the lenders on P2P platforms have to be consistent with their net-worth. An NBFC-P2P is an intermediary providing the services of loan facilitation via online medium or otherwise to the participants, who enter into an arrangement with the intermediary to lend on it or to get the loan facilitation services provided by it.

AWARDS AND HONOURs

1. AAO bestows Life Achievement honour to Dr Santosh G Honavar: Dr Santosh G Honavar, India’s ophthalmologist is conferred with the American Academy of Ophthalmology’s (AAO) highest award Life Achievement honour that is given to its members. He is the first Indian chosen for the honour. American Academy of Ophthalmology is the world’s largest association of eye specialists.

Note: American Academy of Ophthalmology Headquarters: San Francisco, California, US; American Academy of Ophthalmology Founded: 1979.

OBITUARIES

1. American songwriter Allee Willis passes away: American Songwriter Allee Willis (72) passed away after a cardiac arrest. She was best known for composing the “I’ll Be There For You”, the theme song of the popular sitcom Friends. She has several other hits under her name like Earth, Wind, and Fire, which was inducted into the Songwriters Hall of Fame in 2018. She won a Grammy in 1985 for her work on the soundtrack for “Beverly Hills Cop“.

2. ‘Colours of the Mountain’ author Da Chen passes away: China’s brilliant storyteller, Da Chen, who created the critically acclaimed memoir “Colours of the Mountain” passed away recently. In “Colours of the Mountain” he recounted the abuses he and his family suffered during the latter years of the country’s Cultural Revolution. The book was published in seven languages. His last book which was published recently was “Girl Under a Red Moon”.