Daily GK Updates - 16th Sept, 2020

 

NATIONAL UPDATES:

 

1. Union Cabinet approves Haryana Orbital Rail Corridor Project: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval to the Haryana Orbital Rail Corridor Project from Palwal to Sonipat via Sohna-Manesar-Kharkhauda. The project will be implemented by Haryana Rail Infrastructure Development Corporation Limited (HRIDC) and the estimated completion cost of the project is Rs. 5,617 crore.

About Haryana Orbital Rail Corridor Project: The Rail Line will start from Palwal and end at existing Harsana Kalan station (On Delhi-Ambala section). This project will offer connectivity enroute to existing Patli Station (On Delhi-Rewari line), Sultanpur station (On Garhi Harsaru-Farukhnagar Line) and Asaudha Station (On Delhi Rohtak Line). The project will connect unserved areas of the state of Haryana, and hence, will boost the economic and social activities in Haryana State.

Note: Chief Minister of Haryana: Manohar Lal Khattar; Governor: Satyadeo Narain Arya.

 

2. Maharashtra Govt launches ‘My Family, My Responsibility’ campaign: The Chief Minister of Maharashtra, Uddhav Thackeray has launched a state-wide campaign titled, ‘My Family, My Responsibility’, to curb the spread of coronavirus pandemic. The campaign will be conducted in two phases. The first phase of the campaign will end on October 10 and the second phase will take place between October 12 to 24. Under the campaign:

(1) The door-to-door survey will be conducted by the Brihanmumbai Municipal Corporation (BMC), to check the citizens for fever, low oxygen levels and other Covid-19 symptoms.

(2) The campaign will aim to achieve effective health care education for the control of Covid-19 outbreak.

(3) Public representatives and NGO volunteers will be roped in for the campaign and volunteers will go door to door to check the citizens for fever, low oxygen levels and other Covid-19 symptoms.

(4) Working hours of employees in private offices will be staggered and they are to be called to work on alternate days and must work from home as much as possible. Offices have been asked to adopt digital methods to avoid human contact. Video conferencing systems must be used for meetings and the health of all employees must be prioritised.

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

 

3. Rajasthan Govt signs MoU with SIDBI to develop its MSME ecosystem: The Government of Rajasthan signed a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI) to develop its micro, small and medium enterprises (MSMEs) ecosystem. This MoU will support the state government to have a better understanding and provide better solutions for the problems of MSMEs. Under this MoU, the Department of Industries of Rajasthan and SIDBI will work together to provide financial, technical, marketing and export support to the MSMEs in the state. This partnership with SIDBI will promote the state’s innovative cluster-based thinking.

Note: CM Rajasthan Chief Minister: Ashok Gehlot; Rajasthan Governor: Kalraj Mishra; Rajasthan Capital: Jaipur.

 

4. Centre Extends ‘Pradhan Mantri Garib Kalyan Package Insurance Scheme for Health Workers Fighting COVID-19’ for another 6 months: The Insurance Scheme announced under Pradhan Mantri Garib Kalyan Package for health workers who are fighting to contain COVID-19 has been extended for another six months till March 2021. This is the second extension given to the scheme, which aims to provide an insurance cover of Rs 50 lakh to around over 22 lakh public healthcare providers. The ‘Pradhan Mantri Garib Kalyan Package Insurance Scheme for Health Workers Fighting COVID-19’ was announced on 30 March 2020 for a period of 90 days, i.e. till June 2020. This scheme was then extended for a further period of 3 months i.e. up to 25 September 2020.

 

5. Govt Opens Defence Sector to 74% FDI via Automatic Route: The Union Cabinet approved a policy for raising the cap on foreign direct investment (FDI) through automatic approval in the defence sector to 74% from 49% while affixing a ‘national security’ clause to it. Foreign investment in the defence sector shall be subject to scrutiny on ground of national security and the government reserves the right to review any foreign investment in the defence sector that may affect national security. Under the existing policy, the defence industry is allowed to bring FDI up to 49% under the automatic route. Beyond this, it can get FDI under government route, in cases resulting in access to modern technology or for other reasons to be recorded.

 

INTERNATIONAL UPDATES:

 

1. ADB appoints Takeo Konishi as Country Director for India: The Asian Development Bank (ADB) has appointed Takeo Konishi as its new Country Director for India. Konishi will replace Kenichi Yokoyama who has taken over as Director-General of ADB’s South Asia Department. India is the fourth-largest shareholder of ADB and has been its largest borrower since 2010. As head of the country office in New Delhi, Konishi will lead to ADB operations and policy dialogue with the government and other development partners in India. He will oversee the implementation of ADB’s India Country Partnership Strategy, 2018-2022 that focuses on building industrial competitiveness to create more jobs, providing inclusive infrastructure networks and services, and addressing environmental and climate change concerns. Konishi has 22 years of professional experience, including almost two decades with ADB in many senior roles including as Country Director of Uzbekistan Resident Mission and Advisor in the Central and West Asia Department.

Note: President of Asian Development Bank: Masatsugu Asakawa; Asian Development Bank Headquarters: Mandaluyong, Philippines; Asian Development Bank Founded: 19 December 1966.

 

2. Rajesh Khullar appointed Executive Director at World Bank: A 1988 batch IAS officer, Rajesh Khullar has been appointed as Executive Director at World Bank in Washington DC. The Appointment Committee of the Cabinet (ACC) has approved the appointment of Rajesh Khulla for a tenure of three years from the date of assumption of charge or till the date of his superannuation (August 23, 2023). Khullar is currently posted as principal secretary to chief minister Manohar Lal Khattar. He will join the World Bank in the first week of November. As executive director, Khullar will represent India, Bangladesh, Bhutan and Sri Lanka in the World Bank. The World Bank Group comprises 25 executive directors who each represent a country or constituency of countries, are either appointed or elected to the position.

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

 

3. International Day for the Preservation of the Ozone Layer: 16th September: The United Nations observes 16th September every year as International Day for the Preservation of the Ozone Layer. The ozone layer is a fragile shield of gas which protects the Earth from the harmful portion of the rays of the sun and thus help in preserving life on the planet. The theme of the day for 2020: “Ozone for life: 35 years of ozone layer protection”. It marks 35 years of the Vienna Convention. The day was designated by the United Nations General Assembly on December 19, 2000, to commemorate the signing of the Montreal Protocol on Substances that Deplete the Ozone Layer in 1987.

Note: United Nations Environment Programme Headquarters location: Nairobi, Kenya; United Nations Environment Programme Head: Inger Andersen; United Nations Environment Programme Founded: 5 June 1972.

 

OTHER UPDATES:

 

SPORTS

 

1. Paytm First Games ropes in Sachin Tendulkar as brand ambassador: Paytm First Games (PFG), a subsidiary of digital financial service platform Paytm, has roped in Cricket legend Sachin Tendulkar as its brand ambassador. Tendulkar would promote the gaming platform PFG and all its fantasy sports such as cricket, kabaddi, football, and basketball. Paytm is the official umpire partner for IPL till 2022 and has been the title sponsor for Indian cricket.

About Paytm First Games (PFG): It is a joint venture between One97 Communications Ltd and AG Tech Holdings. It offers over 50 games, where the most popular is fantasy sports. It currently engages with more than 80 million users, where the majority of them are from smaller cities and towns.

Note: President of Paytm: Amit Nayyar; Paytm founder: Vijay Shekhar Sharma; Paytm Founded: August 2010; Paytm Headquarters: Noida, Uttar Pradesh.

 

BANKING AND FINANCE

 

1. SBI General Insurance inks corporate agency agreement with YES Bank: SBI General Insurance and YES Bank have signed a corporate agency agreement. Under the corporate agency agreement, the YES Bank will distribute the general insurer’s retail products to its customers. The products of SBI General Insurance Company will be offered to YES BANK’s customers across 28 states and 8 Union Territories. The partnership between SBI General Insurance and YES Bank will be committed to offering customers a broad range of non-life insurance products and services and deploying technology across the customer value chain to facilitate superior experiences for them.

Note: MD & CEO of Yes Bank: Prashant Kumar.

MD & CEO of SBI General Insurance: Prakash Chandra Kandpal.

 

BUSINESS AND ECONOMY

 

1. Asian Development Bank projects Indian economy to shrink by 9% in FY21, grow by 8% in FY22: The Asian Development Bank (ADB) has estimated that the GDP of India is expected to contract by 9 percent in the fiscal 2020-21 (FY21). This estimate is worse that ADB’s previous estimate of -4%. However, for the FY22 (2021-22), ADB expects India’s GDP at 8 percent. ADB also expects the gross domestic product (GDP) growth for developing Asia at – 0.7 percent in 2020, the first negative economic growth since 1962.

 

2. Amazon signs Amitabh Bachchan for its Alexa voice assistant: Amazon.com Inc has signed up Bollywood actor Amitabh Bachchan for its Alexa voice assistant. Amitabh Bachchan is the first Indian celebrity to lend his voice to Alexa. Alexa users will be able to access Amitabh Bachchan’s voice on Alexa by purchasing the Amitabh Bachchan voice experience. Amazon first used a celebrity voice when Hollywood actor Samuel L. Jackson made a debut on Alexa. It has since added professional voice actors who recite Shakespeare, Mark Twain, proverbs and fables. Last year, rival Google Assistant added the voice of American singer John Legend.

Note: Amazon CEO: Jeff Bezos; Amazon Founded: 5 July 1994; Amazon Headquarters: Seattle, Washington, United States.

 

AWARDS AND HONOURS

 

1. BPCL conferred with CII Environmental Project Award: Bharat Petroleum Corporation Limited (BPCL) has been awarded with Confederation of Indian Industry (CII) Environmental Project Awards at 7th CII Environmental Best Practices Awards Conference. It has been honoured with the 'Most Innovative Environmental Project' & 'The Most Useful Environmental Project' awards for indigenous development of the research and patented product BHARAT GSR CAT (Gasoline Sulphur Reduction Catalyst).

Note: CII’s MD & CEO: Uday Kotak

 

DEFENCE

 

1. India & US conducts 10th DTTI Group Meeting virtually: The 10th Defense Technology and Trade Initiative (DTTI) Group Meeting was held virtually by the Indian and U.S. Defense Delegations. The meeting was co-chaired by Mr. Raj Kumar, Secretary, Defence Production, from the Indian Ministry of Defence and Ms. Ellen M. Lord, Under Secretary of Defense for Acquisition and Sustainment, from the U.S. Department of Defense. During the meeting, the co-chairs signed a Statement of Intent (SOI) that declared their intent “to strengthen our dialogue on defense technology cooperation by pursuing detailed planning and making measurable progress” on several specific DTTI projects.

DTTI Group meeting aims to bring sustained leadership focus to the bilateral defense trade relationship and create opportunities for co-production and co-development of defense equipment. Four Joint Working Groups focused on land, naval, air, and aircraft carrier technologies have been established under DTTI to promote mutually agreed projects within their domains. DTTI Group Meetings are held twice a year, alternating between India and the United States.

 

OBITUARIES

 

1. Renowned social activist Swami Agnivesh passes away: Social activist and Arya Samaj leader, Swami Agnivesh, who is widely known for his work against slavery and bonded labour, has passed away. Agnivesh was elected as a member of the Legislative Assembly of Haryana in 1977 and served as a cabinet Minister for Education in 1979. Agnivesh became president (2004–2014) of the World Council of Arya Samaj, which is the highest international body of the Arya Samaj.

 

2. Former Maharashtra Cricketer Sadashiv Patil passes away: Former Maharashtra cricketer, Sadashiv Patil passed away. He had represented India in only one Test and played 36 first-class matches between 1952 and 1964. He made his first-class debut for Maharashtra during the 1952-53 season and his only test debut against New Zealand at the Brabourne Stadium in 1955. 

Daily GK Updates - 15th Sept, 2020

 

NATIONAL UPDATES:

 

1. Union Cabinet approves establishment of AIIMS at Darbhanga, Bihar: The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved establishment of a new All India Institute of Medical Sciences (AIIMS) at Darbhanga, Bihar. This will be established under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY). The approved AIIMS would be established at a total cost of Rs. 1264 crore and is likely to be completed within a period of 4 years from the date of the approval of Government of India. The new All India Institute of Medical Sciences (AIIMS) at Darbhanga, Bihar will have 15-20 Super Specialty Departments. The proposed institution shall have a hospital with capacity of 750 beds which will include Emergency / Trauma beds, ICU beds, AYUSH beds, Private beds and Specialty & Super Specialty beds.

Note: Chief Minister of Bihar: Nitish Kumar; Governor: Phagu Chauhan.

 

2. Harivansh Narayan Singh re-elected as Deputy Chairman of Rajya Sabha: Janata Dal (United) parliamentarian Harivansh Narayan Singh has been re-elected as the Deputy Chairman of Rajya Sabha. The upper house has cleared his name with a voice vote. The proposal to elect Harivansh as the deputy chairman of Rajya Sabha was moved by BJP President JP Nadda. Harivansh Narayan Singh was first elected as Deputy Chairman of Rajya Sabha on August 8, 2018. His term as Rajya Sabha member ended in April 2020.

Note: Chairman of Rajya Sabha: M Venkaiah Naidu.

 

3. Union Minister Dr. Jitendra Singh virtually lays foundation stone of Arun Jaitley Memorial Sports Complex in Jammu: The Union Minister of State, Development of North Eastern Region (DoNER), Dr Jitendra Singh along with Youth Affairs & Sports Minister Kiren Rijiju and Jammu and Kashmir Lieutenant Governor Manoj Sinha laid the foundation stone for the construction of Arun Jaitley Memorial Sports Complex at Hiranagar, in Kathua district of Jammu & Kashmir through video conferencing on 12 September 2020. Arun Jaitley Memorial Sports Complex will spread over 270 kanals of land and is being undertaken under the Prime Minister’s Development Package (PMDP) at an estimated cost of Rs.58.23 crore.

The State of Art Sports Complex will be first of its kind sports complex in the Northern Region, having multiple sports facilities of international and national standards in one place.

It will boost the overall Sports Infrastructure in the UT of Jammu & Kashmir.

 

4. National Engineer’s Day: 15th September: In India, the Engineer’s Day is celebrated on September 15 every year, since 1968, to recognise the contribution of engineers’ in the development of the nation. The day marks the birth anniversary of the engineering pioneer of India, Sir Mokshagundam Vishweshvaraya, (popularly known as Sir MV He was the Chief Engineer of Krishna Raja Sagara dam of Mysuru and is regarded as Father of Modern Mysore. He solved Visakhapatnam Port erosion issue along with designing flood protection system for Hyderabad. He was awarded ‘Bharat Ratna’ for his exceptional contribution to the building of India in 1955.

 

5. Gauri Khan announces her debut book ‘My Life in Design’: Interior designer, Gauri Khan has authored her first book titled “My Life In Design”, which will be published by Penguin Random House India in 2021. It is a coffee-table book, in which Gauri has written about her journey as a designer.

The essence of the book: The book will feature unseen pictures of her interior design projects, family and residence. She will also talk about her design philosophy and style. The book will be very visually appealing with exclusive pictures and information that guide aspiring designers or those who are just generally interested in the art of design.

 

6. Wadia Institute of Himalayan Geology celebrates ‘Himalaya Diwas’: Wadia Institute of Himalayan Geology (WIHG), an autonomous institute of the Department of Science & Technology, Government of India, virtually celebrated the ‘Himalaya Diwas’. On the occasion of ‘Himalaya Diwas’, the scientists who are specialising in different aspects of the Himalayas deliberated on a range of areas namely landslide disaster risk reduction, Himalayan seismicity, risk awareness, and mitigation, and journey of black carbon towards Himalayan cryosphere.

 

INTERNATIONAL UPDATES:

 

1. India becomes member of UN’s ECOSOC body: India has been elected as a member of the United Nation’s Commission on Status of Women, a body of the Economic and Social Council (ECOSOC). India will be a member of United Nation’s Commission on Status of Women for four years, 2021 to ‘25. India, Afghanistan and China had contested the elections to the Commission on Status of Women. Even as India and Afghanistan won the ballot among the 54 members, China could not cross the half-way mark.

About ECOSOC: The Economic and Social Council is at the heart of the United Nations system to advance the three dimensions of sustainable development – economic, social and environmental. It is the central platform for fostering debate and innovative thinking, forging consensus on ways forward, and coordinating efforts to achieve internationally agreed goals. It is also responsible for the follow-up to major UN conferences and summits.

Note: ECOSOC Founded: 1945; ECOSOC President: Munir Akram; ECOSOC Headquarters: New York, United States.

 

2. Yoshihide Suga elected as Prime Minister-designate of Japan: Japan’s Chief Cabinet Secretary, Yoshihide Suga, has been elected as the new Chief of country’s ruling, Liberal Democratic Party (LDP) and Prime Minister designate of Japan. Suga received maximum votes of 377 in the Party election, held to pick a successor to Prime Minister Shinzo Abe, who announced in August 2020 that he would resign due to health problems. The 71-year-old will assume charge of the office from 16 September 2020.

Note: Note: Capital of Japan: Tokyo; Currency of Japan: Yen.

 

3. Sameer Kumar Khare appointed Executive Director at ADB: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sameer Kumar Khare as new Executive Director of Asian Development Bank (ADB), Manila. Khare is a 1989-batch Indian Administrative Service (IAS) officer of Assam cadre. He is currently serving as Additional Secretary in the Department of Economic Affairs under Ministry of Finance. He has been appointed to the post for a tenure of three years with effect from the date of assumption of the charge of the post or until further orders, whichever is earlier.

Note: President of Asian Development Bank: Masatsugu Asakawa; Asian Development Bank Headquarters: Mandaluyong, Philippines; Asian Development Bank Founded: 19 December 1966.

 

4. International Day of Democracy: 15th September: The International Day of Democracy is celebrated across the world on 15 September each year. It was established through a resolution passed by the UN General Assembly in 2007, with the purpose of promoting and upholding the principles of democracy and provides an opportunity to review the state of democracy in the world. The theme for 2020 International Day of Democracy is “COVID-19: A Spotlight on Democracy.”

 

5. World Lymphoma Awareness Day: 15th September: The World Lymphoma Awareness Day (WLAD) is observed on September 15 every year. The day is dedicated to raising awareness of lymphoma, an increasingly common form of cancer. WLAD is a global initiative, initiated in 2004 by the Lymphoma Coalition (LC), a non-profit network organisation of 83 lymphoma patient groups from 52 countries around the world.

 

6. TikTok choses Oracle as its technology partner for its US operations: TikTok has chosen Oracle to be its technology partner for its American operations. Microsoft was also in a bid to acquire TikTok in the United States but the Chinese owner of the video-sharing platform “TikTok” chose Oracle over Microsoft to be its technology partner for its American operations. The partnership was signed by the two entities as in an executive order signed last month, President of the United States, Donald Trump stated that TikTok would be blocked in the US if it did not sell its US operations to an American company by 20th of September 2020.

 

OTHER UPDATES:

 

SPORTS

 

1. Thomas and Uber Cup Finals postponed to 2021 by BWF: The Badminton World Federation (BWF) has announced that the Thomas Cup and the Uber Cup, which were scheduled to be held from 3 to 11 October 2020 in Denmark, has been postponed for 2021. This decision has been taken following the withdrawal of many participating countries from the tournament due to the COVID-19 pandemic. The alternative dates to reschedule the World Men’s and Women’s Team Championships is yet to be decided by BWF.

Note: Badminton World Federation Founded: 5 July 1934; Badminton World Federation President: Poul-Erik Hoyer Larsen; Badminton World Federation Headquarters: Kuala Lumpur, Malaysia.

 

BANKING AND FINANCE

 

1. SBI Modernizes its Payment Switching System with ACI Worldwide Technology: ACI Worldwide, a global provider of real-time digital payment software and solutions, has modernized payments infrastructure for ATM and point-of-sale (POS) at State Bank of India (SBI), the country’s largest bank with more than 440 million account holders. Operating more than 58,000 ATMs, the bank is a long-time ACI customer, utilizing its market-leading Retail Payments solution to acquire, authenticate, route, switch and authorize financial transactions across its ATM, POS and eCommerce channels. The solution enables SBI’s ATM network to acquire Visa, Mastercard and RuPay cards, as well as manage ATM/POS authorizations. Transaction processing volumes frequently exceed 30 million transactions per day.

 

BUSINESS AND ECONOMY

 

1. S&P Global Ratings Projects India’s GDP at -9% in FY21 & 6% in FY22: S&P Global Ratings has projected the GDP of India to contract by 9% in the fiscal year 2020-21 (FY21), as against its previous estimate of a 5% contraction, due to the impact of the COVID-19 pandemic. For the Fy22 (2021-22), S&P expects GDP growth of 6%. For the Fy23 (2022-23), GDP is projected at 6.2%.

Note: S&P Global Ratings Headquarters: New York, United States; President of S&P Global Ratings: John Berisford.

 

2. Infosys to acquire Europe-based GuideVision for €30 million: IT major Infosys has signed a definitive agreement to acquire European consultancy firm GuideVision for up to Euro 30 million (approximately $35 million). GuideVision is one of the largest ServiceNow Elite Partners in Europe, specialised in offering strategic advisory, consulting, implementations, training and support. With this acquisition, Infosys will enhance its Cobalt portfolio of cloud services and further strengthen its ServiceNow capabilities for its clients in Europe. Infosys launched Cobalt in August 2020, which is a set of services, solutions, and platforms to help its clients, mostly large enterprises, build new cloud-first capabilities.

Note: Infosys CEO: Salil Parekh

 

AWARDS AND HONOURS

 

1. Aditya Puri conferred Lifetime Achievement Award by Euromoney 2020: Managing Director of HDFC Bank, Aditya Puri has been conferred the Lifetime Achievement Award by Euromoney Awards of Excellence 2020. He has been awarded for his skills in building a world-class bank in India at a time where there were no similar institutions in existence. Euromoney’s Awards for Excellence are the awards that matter to the banks and bankers who matter. They were established in 1992 and were the first of their kind in the global banking industry.

Note: HDFC Bank Headquarters: Mumbai, Maharashtra; HDFC Bank's Chairman: Deepak Parekh

The tagline of HDFC Bank: We Understand Your World

 

OBITUARIES

 

1. Former Chhattisgarh Minister Chanesh Ram Rathiya passes away: Veteran Congress leader and former Chhattisgarh minister, Chanesh Ram Rathiya passed away due to COVID-19. He was elected as an MLA for the first time in 1977 from Dharamjaigarh constituency in the then undivided Madhya Pradesh. Rathiya had served as animal husbandry minister in the Digvijay Singh led-Congress government in erstwhile Madhya Pradesh. Rathiya also served as the food and civil supplies minister in the Ajit Jogi government (2000-2003) after the formation of Chhattisgarh in 2000.

Note: Chhattisgarh CM: Bhupesh Baghel; Governor: Anusuiya Uikey 

Daily GK Updates - 14th Sept, 2020

 

NATIONAL UPDATES:

 

1. Odisha govt launches ‘GARIMA’ scheme for sanitation workers: The Chief Minister of Odisha, Naveen Patnaik has launched a new scheme named ‘GARIMA’ which aims to ensure the economic safety and social dignity of core sanitation workers in the state. The Ministry of Housing and Urban Development Department, Odisha has signed a Ministry of Understanding (MoU) with not-for-profit organisation Urban Management Centre for providing the technical support to implement the scheme. Under ‘GARIMA’ scheme:

(1) Around 20,000 core sanitation workers and their families with about one lakh population will benefit from the scheme.

(2) GARIMA Scheme will be implemented by the state Housing and Urban Development department in all the 114 Urban Local Bodies (ULBs) of Odisha.

(3) Initially, the state government has allocated a corpus fund of Rs 50 crore for the scheme.

(4) The working hours of sanitation workers will be limited to 6 hours per day.

(5) The Core Sanitation workers and their family members will be covered under the health insurance scheme with regular health check-ups, housing, educational support, mobility support and mobile support.

Note: Odisha Capital: Bhubaneswar; Odisha Governor: Ganeshi Lal.

 

2. PM Modi dedicates to Nation three key projects related to Petroleum sector in Bihar: Prime Minister Shri Narendra Modi dedicated to the nation three key projects related to the Petroleum sector in Bihar worth more than Rs 900 crore via video conferencing on 13 September 2020. The projects include: Durgapur-Banka section of the Paradip-Haldia-Durgapur Pipeline Augmentation Project and Two LPG Bottling Plants- in East Champaran and Banka.

Durgapur-Banka section: The 193-km long Durgapur-Banka pipeline section has been built by state-owned Indian Oil Corp (IOC). It is a part of the 679-km Paradip-Haldia-Durgapur Pipeline Augmentation Project, for which the foundation stone was laid by PM Modi on February 17, 2019.

The pipeline has a diameter of 14-inch and will pass through West Bengal, Jharkhand and Bihar.

LPG Bottling Plants: The LPG Bottling Plants in East Champaran and Banka have a combined capacity to fill around 80 thousand cylinders per day and more than 125 million cylinders every year. The cost of Banka Plant is Rs 131.75 crore and of East Champaran Plant is Rs 136.4 crore.

These LPG Bottling Plants will empower the Atmanirbhar Bihar’ by meeting the rising demand for LPG in the state. They have been commissioned by Hindustan Petroleum Corp Ltd (HPCL).

 

3. National Hindi Day: 14th September: Hindi Divas or Hindi Day is an annual day celebrated on 14 September in India to celebrate the popularity of Hindi as an official language of the country. Hindi Divas is celebrated on 14 September because on this day in 1949, the Constituent Assembly of India had adopted Hindi written in Devanagari script as the official language of the Republic of India. The language was adopted under Article 343 of the Indian Constitution. The first Hindi day was celebrated on 14th September 1953. Later, Pt Jawaharlal Nehru announced this day to be celebrated as Hindi Diwas in the country.

There are 22 Scheduled languages of India, of which, two are officially used at Union government of India level: Hindi and English. Hindi is the fourth most spoken language of the world. Hindi Divas is celebrated on 14 September because, on this day in 1949, the Constituent Assembly of India had adopted Hindi written in Devanagari script as the official language of the Republic of India.

 

4. Assam State Rural Livelihoods Mission and NESFB sign MoU: Assam State Rural Livelihoods Mission (ASRLM) signed a Memorandum of Understanding (MoU) with North East Small Finance Bank (NESFB) to work in cohesion in support of Bank Linkage of the Self-Help Groups (SHGs) and Producer Groups/ Enterprises under ASRLM. ASRLM is the first amongst all the State Livelihood Missions to initiate the signing of MoU with the new generation small finance banks. This collaboration of ASRLM and NESFB will cater to the financial needs of many SHG members, other higher level federation like VOs, CLFs, Producer Groups, Producer Collectives etc. to kick-start their dream projects of livelihood enhancement.

 

5. Justice Rohinton Fali Nariman appointed as Chairman of Supreme Court Legal Services Committee: The Central Authority has appointed Justice Rohinton Fali Nariman as the Chairman of the Supreme Court legal services committee. Justice Nariman takes over the post following the retirement of Justice Arun Mishra, who held the post since November last year. The committee has been constituted for implementing the legal services programme in connection with the top court.

 

6. CIPET to establish two new Centres for Skilling and Technical Support at Bhagalpur & Varanasi: Central Institute of Petrochemicals Engineering & Technology (CIPET) under the Ministry of Chemicals and Fertilizers will be shortly establishing two new Centres for Skilling and Technical Support- CSTS at Bhagalpur (Bihar) and Varanasi (UP). Every year 1000 youths will be trained in each centre through Diploma & Skill Development programmes for gainful employment in petrochemicals & allied industries. Presently CIPET has 43 operational centres and 9 more centres are in the process of establishment across the country catering to the needs of Polymer and allied industries.

 

7. EPFO decides to pay 8.5% interest during 2019-20: The Labour and Employment Minister Santosh Kumar Gangwar chaired the 227th Meeting of the Central Board of Trustees of Employees’ Provident Fund. In view of the exceptional circumstances arising out of Covid-19, the Central Board has recommended the same interest rate at 8.50 per cent to the Central Government. It would comprise of 8.15 per cent from debt income and balance 0.35 per cent capital gain from the sale of Exchange Traded Funds, ETFs subject to their redemption by 31st December this year.

 

INTERNATIONAL UPDATES:

 

1. V Muraleedharan participates in 27th ASEAN regional forum: Minister of State for External Affairs V Muraleedharan participated in the 27th ASEAN regional forum. During the 27th ASEAN regional forum, the minister shared India’s views on maritime security, counter terrorism as well as the COVID-19 pandemic. He also stated that India will co-chair ASEAN Regional Forum (ARF) workshops on port security and the United Nations Convention on the Law of the Sea. The Association of Southeast Asian Nations is a regional intergovernmental organisation. This organisation promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and socio-cultural integration among its members and other Asian states. It comprises of 10 Southeast Asian countries namely: Indonesia, Thailand, Singapore, Malaysia, The Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos.

 

2. ADB & Suguna Foods Private Limited signs $15 million deal: The Asian Development Bank (ADB) has signed an agreement for $15 million of debt financing through the subscription of nonconvertible debentures for Suguna Foods Private Limited (Suguna). The deal will help in sustaining poultry farming operations, as well as rural livelihoods and food security in India during the COVID-19 pandemic. With this deal, the ADB will offer essential liquidity support to Suguna’s operations and also help the company build inventory buffers and make timely payments to contract farmers and suppliers. It will also encourage local lenders to support the business and help attract other medium- and long-term capital and international partners.

Note: President of Asian Development Bank: Masatsugu Asakawa.

 

3. Andhra Pradesh government signs MoUs with Netherlands, 7 firms on food processing, marketing: The Andhra Pradesh State government signed Memoranda of Understanding (MoUs) with the Netherlands government and seven companies in food processing, marketing and technologies, to benefit the horticulture and aquaculture farmers across the State.  These MOUs will help the food processing sector of various agricultural products, including bananas, tomatoes, mangoes, sugar, chillies, vegetables, and aqua products. AP has also entered into an agreement with the following firms, Tiruchirappalli-based ICAR-National Research Centre for Banana, Pune-based Futuretech Foods Private Limited, Big Basket, ITC, Lawrencedale Agro Processing India Private Limited, IFB and Empire Company.

 

OTHER UPDATES:

 

SPORTS

 

1. Dominic Thiem wins US Open Men’s Tennis Tournament 2020: Austria’s Dominic Thiem defeated Alexander Zverev to win the men’s singles title at the 2020 US Open tournament. It was Thiem’s first Grand Slam title, and he becomes the first player in the Open Era to rally from two sets down in a US Open final. Thiem is also the first player to capture a Grand Slam title from two sets down since Gaston Gaudio at 2004 French Open. For the first time in six years, there was a first-time Grand Slam champion at the US Open.

 

BANKING AND FINANCE

 

1. NABARD to Disburse Rs 1.20 Lakh Crore Crop Loan to Farmers This Fiscal: In a bid to support agri sector amid COVID-19 crisis, National Bank for Agriculture and Rural Development said it aims to disburse Rs 1.20 lakh crore crop loan to farmers for meeting production expenses this fiscal. Apex agriculture financial institution Nabard annually disbursed Rs 90,000 crore crop loan at a concessional rate. With the help of Rs 1 lakh crore Agriculture Infrastructure Fund under the Atmanirbhar Bharat package will foster infrastructure for the sector.Under the scheme, Rs 10,000 crore has been earmarked for the current fiscal and Rs 30,000 crore each year for the next three years.

 

BUSINESS AND ECONOMY

 

1. Razorpay launches collateral free line of credit for SMEs: In a bid to rescue MSMEs and improve their cash flows, Razorpay has launched a collateral free line of credit called Cash Advance. MSMEs can borrow working capital with a credit limit of Rs 50,000 to Rs 10 lakh, within 10 seconds through the Razorpay dashboard, depending upon the credit history of the business. With this, Razorpay aims to support businesses with upto Rs 100 crores of credit by end of 2020.

Note: Razorpay CEO: Harshil Mathur; Founded: 2013; Headquarters location: Bengaluru

 

2. ICICI Prudential Life Insurance joins hands with NSDL Payments Bank to offer insurance: ICICI Prudential Life Insurance joined hands with NSDL Payments Bank to provide its products to customers of payments bank. Under the agreement, customers of NSDL Payments Bank will have access to ICICI Prudential Life’s products. This partnership helps IPru Life to increase presence on new-age distribution touch-points. This is also an effort by IPru Life to cover the uninsured population of the country by offering its life insurance POS products on NSDL Payment Bank’s point of sale (POS) network, across the country.

 

AWARDS AND HONOURS

 

1. Indian Film ‘The Disciple’ by Chaitanya Tamhane wins Best Screenplay award at Venice Film Festival 2020: The Marathi language feature film ‘The Disciple’ written and directed by Mumbai-based filmmaker Chaitanya Tamhane, has bagged the prestigious FIPRESCI award for Best Screenplay at the 77th Venice Film Festival. The annual Venice International Film Festival 2020 was held from 2 to 12 September 2020. The Disciple is the first Indian film to have been selected in a major competition category at a European festival in 20 years after Mira Nair’s Monsoon Wedding in 2001. The award is presented by ‘ The International Federation of Film Critics, FIPRESCI (Federation Internationale de la Presse CInematographique).

 

DEFENCE

 

1. DRDO develops P-7 Heavy Drop System capable of para dropping military stores: Defence Research and Development Organization, DRDO has developed P-7 Heavy Drop System which is capable of para dropping military stores up to seven-tonne weight class from IL- 76 aircraft. It consists of a platform and specialized parachute system. The parachute system is a multi-stage system comprises of five Main canopies, five Brake chutes, two Auxiliary chutes, one Extractor parachute and platform is a metallic structure made up of Aluminium or steel alloys. The system has been developed successfully with 100 per cent indigenous resources. P-7 Heavy Drop System has been inducted in the Army. 

Daily GK Updates - 13th Sept, 2020

 

NATIONAL UPDATES:

 

1. Govt sets up Empowered Group of Ministers to oversee OFB’s Corporatisation: Central Government has constituted an Empowered Group of Ministers (EGoM) to oversee the process of the corporatisation of the Ordnance Factory Board (OFB). Defence Minister Rajnath Singh is the chairman of this EGoM. As part of the “Aatmanirbhar Bharat” (self-reliant India) initiative, the government had announced on May 16 that it would improve the autonomy, accountability and efficiency in ordnance supplies by converting the OFB, which is a subordinate office of the defence ministry, into one or more government-owned corporate entities. About Empowered Group of Ministers (EGoM):

(1) EGoM will “oversee and guide the entire process of corporatisation, including transition support and redeployment plan of employees while safeguarding their wages and retirement benefits”.

(2) The ordnance factories form an integrated base for indigenous production of defence hardware and equipment.

(3) Corporatization is the process of transforming state assets, government agencies, or municipal organizations into corporations.

(4) The OFB has 41 factories under it to produce ordnance for the country’s armed forces.

 

2. PM Modi addresses the ‘Grih Pravesham’ event in MP: Prime Minister Shri Narendra Modi has addressed the ‘Grih Pravesham’ event in Madhya Pradesh through video conferencing. Under this, 1.75 Lakh Families in Madhya Pradesh were delivered pucca houses under the Pradhan Mantri Awas Yojana- Grameen (PMAY-G). PM Modi also interacted with the beneficiaries from Dhar, Singrauli and Gwalior under PMAY-G in Madhya Pradesh. Building a house under PMAY-G takes about 125 days but during this period of Corona, it was completed in just about 45 to 60 days which is a record in itself.

About Pradhan Mantri Awas Yojana- Grameen (PMAY-G): Pradhan Mantri Awas Yojana–Gramin (PMAYG), earlier known as Indira Awaas Yojana (IAY), is a scheme for rural housing by the Indian Government. This social welfare program was initiated to meet the objectives of the “Housing for All” scheme by the year 2022. The main aim of the PMAY-G scheme is to provide the pucca house with some of the basic amenities. This scheme is meant for people who do not own a house and people who live in kutcha houses or houses which are severely damaged. At present, the minimum size of the houses to be built under the PMAY-G scheme has been increased to 25 sq. mt. from 20 sq. mt.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Anandiben Patel.

 

3. India Post launches Five Star Villages Scheme for 100% rural coverage of postal schemes: The Department of Posts has launched a new scheme called Five Star Villages, to ensure universal coverage of flagship postal schemes in rural areas of the country. The scheme aims to bridge the gaps in public awareness and reach of postal products and services, especially in interior villages. The scheme was launched by the Union Minister of State for Communications, Shri Sanjay Dhotre on 10 September 2020. The schemes covered under the Five Star scheme include:

(1) Savings Bank accounts, Recurrent Deposit Accounts, NSC / KVP certificates,

(2) Sukanya Samridhi Accounts/ PPF Accounts,

(3) Funded Post Office Savings Account linked India Post Payments Bank Accounts,

(4) Postal Life Insurance Policy/Rural Postal Life Insurance Policy and

(5) Pradhan Mantri Suraksha Bima Yojana Account / Pradhan Mantri Jeevan Jyoti Bima Yojana Account.

The scheme is being launched on pilot basis in Maharashtra. 50 villages in each district of the state will be covered during 2020-2021. The scheme will be implemented by a team of five Gramin Dak Sevaks, headed by the Branch Post Master of the concerned Branch Office.

 

4. Subhash Kamath becomes new Chairman of ASCI: Subhash Kamath has been elected as the chairman of the board of governors of the Advertising Standards Council of India (ASCI). Kamath, who was serving as ASCI vice-chairman, will replace Rohit Gupta, president, Sony Pictures Networks. Other appointments:

NS Rajan, managing director at public relations firm Ketchum Sampark P. Ltd. was elected vice-chairman and Shashidhar Sinha, chief executive, Mediabrands India Pvt. Ltd was reappointed as honorary treasurer.

Note: Advertising Standards Council of India Founded: 1985; Advertising Standards Council of India Headquarters: Mumbai, Maharashtra.

 

5. India’s First Airport Coronavirus Testing Facility Launched in Delhi: India’s first coronavirus airport testing facility has been launched at Delhi’s Indira Gandhi International Airport. Passengers can book the testing the slot an hour before the time of arrival and around four-six hours before the departure flight. The test results are available within four-six hours. Passengers will have to provide their details such as name, contact details and valid ID proof while applying online for this facility. The test will cost around ₹2,400 per test.

 

INTERNATIONAL UPDATES:

 

1. India-US hold 2 plus 2 intersessional meeting: India and the United States held a bilateral 2+2 Inter-sessional meeting in virtual mode. During the meeting, both sides reviewed the progress and developments in bilateral ties in defence, security, and foreign policy areas. They explored opportunities for enhancing ongoing cooperation in these fields based on mutual interest. They also exchanged views about regional developments, and agreed to pursue their quest for a free, open, inclusive, peaceful and prosperous Indo-Pacific. Participants of 2 plus 2 intersessional meeting:

The Indian delegation was led jointly by Ms Vani Rao, Joint Secretary (America) in the Ministry of External Affairs and Shri Somnath Ghosh, Joint Secretary (International Cooperation) in the Ministry of Defence. The U.S. delegation was led jointly by Mr. Dean Thompson, Senior Bureau Official, Bureau of South and Central Asian Affairs in the U.S. Department of State and Mr David Helvey, Acting Assistant Secretary for Indo-Pacific Security Affairs in the U.S. Department of Defense.

 

2. S Jaishankar co-chairs ASEAN-India Ministerial Meeting with Thailand: The Union Minister of External Affairs S Jaishankar co-chaired the ASEAN-India Ministerial Meeting on 12 September 2020, with his Thailand counterpart Don Pramudwinai. The virtual meeting saw the participation of Foreign Ministers of the 10 ASEAN Member States and India. The new ASEAN-India Plan of Action for next five years (2021-2025) was adopted at the meeting. The meeting reviewed the status of ASEAN-India Strategic Partnership in several areas including maritime cooperation, connectivity, education capacity building and people-to-people contacts and also discussed ways to strengthen cooperation to fight COVID-19 pandemic among other things.

 

3. Iran’s military begins annual exercise ‘Zolfaghar-99’ amid tensions with US: Iran’s military began an expansive annual three-day exercise near the strategic Strait of Hormuz. Units from the navy and air force and ground forces are participating in a nearly 2 million-square-kilometer (772,200-square-mile) area of the Gulf of Oman. Adm. Habibollah Sayyari, commander of the annual exercise dubbed Zolfaghar-99, said the operation is aimed at “improving readiness in confronting foreign threats and any possible invasion.” The navy will test-fire surface-to-surface and shore-to-sea cruise missiles and rocket-launching systems fitted on warships, submarines, aircraft and drones.

 

OTHER UPDATES:

 

SPORTS

 

1. Japan’s Naomi Osaka wins US Open Tennis Tournament: Japan’s Naomi Osaka defeated Victoria Azarenka of Belarus to clinch the Women’s Singles title in the 2020 US Open Tennis tournament. This is the third Grand Slam title for the fourth seed Osaka. Osaka previously won the title at the 2018 US Open and 2019 Australian Open. She is now the first Asian player to win three Grand Slam singles titles. The victory has moved up Osaka to number 3 in the world rankings.

Men’s doubles title: Mate Pavić and Bruno Soares

Women's doubles title: Laura Siegemund and Vera Zvonareva

 

2. Lewis Hamilton wins F1 Tuscan Grand Prix 2020: Lewis Hamilton (Mercedes-Great Britain) has won the Formula One Tuscan Grand Prix 2020 held at Mugello Circuit, Italy. This was his 6th win of the season and 90th F1 win of his career. Valtteri Bottas (Mercedes-Finland) came second followed by Alexander Albon (Red Bull – Thailand) at third place. The Tuscan Grand Prix (first edition) was the ninth race of the 2020 Formula One World Championship.

 

BANKING AND FINANCE

 

1. Finance Minister launches Doorstep Banking Services by PSBs: Union Minister of Finance, Smt. Nirmala Sitharaman launched the Doorstep Banking Services by Public Sector Banks (PSBs). The service aims to provide banking services to the customers of Public Sector Banks at their doorstep via three modes:

Call Centre (18001037188 or 18001213721)

Web Portal (www.psbdsb.in)

Mobile App (Doorstep Banking (DSB)

The targetted customers are- Senior citizens, Defense personnel, CRPF, widows, Divyangindividuals, Students, Salaried employees, Corporate clients, Retail shopkeepers and street vendors. The service is available in 11 languages. It aims to deliver the services in 3 hours. For this 100 Doorstep banking centres have been established across India. All 12 Public Sectors banks have been covered in this scheme. Available Services: Services like- Cheques/DD/PO, New cheque book requisition, 15G, 15H forms, IT Challan, Standing Instructions request, A/c Statement, Non-personalised Cheque Books, DD, PO, Prepaid instrument/Gift card, TDS / Form 16 Certificate issuance, Term Deposit Receipt /Acknowledgement can be availed by the customers at their doorsteps.

 

BUSINESS AND ECONOMY

 

1. Reliance Industries becomes first Indian firm to cross $200 bn m-cap: Reliance Industries (RIL) on September 10, 2020, became the first Indian company to cross $200 billion in market capitalization (m-cap). The market capitalization of Reliance Industries at the close of the stock market on September 10, 2020, was Rs 15.3 trillion ($208 billion).  The second best after RIL is Tata Consultancy Services (TCS) with an m-cap of Rs 8.75 trillion, ($119 billion).

 

2. CARE ratings projects India’s GDP to contact between 8-8.2% in FY21: The Indian rating agency, CARE Ratings has projected the GDP of India to contract in the range 8 to 8.2% for 2020-21 (FY21). This is more than its earlier projection of -6.4%. The decline in GDP growth by around 8 per cent would also be associated with a decline in the gross fixed capital formation.

Note: CARE Ratings Founded: 1993; CARE Ratings: Mumbai, Maharashtra; CARE Ratings Managing Director & Chief Executive Officer: Ajay Mahajan.

 

3. Jane Fraser named the 1st female CEO of Citigroup: Citigroup has named Jane Fraser as its next chief executive officer. She will be the first female CEO of this major global bank. She will succeed Michael Corbat, who is retiring in February 2021. Fraser has been a rising star in the financial industry, with a career that spans investment banking, wealth management, troubled mortgage workouts and strategy in Latin America.

Note: The headquarters of Citigroup is located in New York, United States; Citigroup Established: 8 October 1998.

 

OBITUARIES

 

1. Former Union Minister Raghuvansh Prasad Singh passes away: Former Union minister and veteran leader of Rashtriya Janata Dal (RJD), Raghuvansh Prasad Singh passed away. He was a member of the 15th Lok Sabha of India and represented the Vaishali constituency of Bihar. Singh had served as the Union Minister for Rural Development in Prime Minister Manmohan Singh’s cabinet. He was widely regarded as the brain behind the conceptualization and implementation of NREGA (National rural employment guarantee act).