Daily GK Updates - 12th Oct, 2020

 

NATIONAL UPDATES:

 

1. SVAMITVA Scheme: PM Modi launches physical distribution of Property Cards: Prime Minister Narendra Modi has launched the programme of physical distribution of Property Cards under the SVAMITVA scheme through video conferencing. The Survey of Villages and Mapping with Improvised Technology in Village Areas (SVAMITVA) is a Central Sector Scheme, which was launched in April 2020 to provide the ‘record of rights to document the residential properties’ to village household owners in rural areas and issue Property Cards. Benefits:

(1) ‘SVAMITVA Scheme’ will help in strengthening the Panchayati Raj system for which efforts are underway for the past 6 years.

(2) The scheme will allow the villagers to use the property as a financial asset for taking loans and other economic and financial benefits.

(3) The scheme is being implemented in a phased manner over a period of four years (2020-2024) and would eventually cover around 6.62 lakh villages of the country.

(4) In Phase-I people from 763 villages of 6 states, Uttar Pradesh, Haryana, Maharashtra, Madhya Pradesh, Uttarakhand and Karnataka will be the beneficiary of the ‘SVAMITVA’scheme.

(5) About one lakh property owners will be able to download property cards from the link received through SMS on their mobile phones. The respective state governments will distribute physical cards.

 

2. Andhra Pradesh CM launches “Jagananna Vidya Kanuka” scheme: Andhra Pradesh Chief Minister, YS Jagan Mohan Reddy has launched a new scheme named the ‘Jagananna Vidya Kanuka’ scheme to distribute school kits among the poor children of the state. The state shall spend around Rs 650 crore towards the scheme. 42,34,322 kits will be distributed across the state under the scheme. Under this scheme, the government school students from classes 1 to 10 across the state will set the school kits or Vidya Kanuka, which will contain three pairs of uniform, one pair of shoes, two pairs of socks, a belt, one set of textbooks and notebooks and one school bag.

Note: Chief Minister of Andhra Pradesh: YS Jagan Mohan Reddy; Governor: Biswa Bhusan Harichandan.

 

3. FM Nirmala Sitharaman announced LTC cash voucher scheme: Finance Minister Nirmala Sitharaman has announced leave travel concession (LTC) cash voucher scheme and special festival advance scheme for government employees with an aim to increase consumer spending. She announced proposals regarding consumer spending and capital expenditure. Under consumer spending, she announced proposals within two components: LTC cash voucher scheme and special festival advance scheme. About the leave travel concession (LTC) cash voucher scheme:

(1) Central government employees get leave travel concession in a block of four years–one each to a destination of choice and home town or two for home town.

(2) Under this, the air or rail fare is reimbursed as per pay scale/entitlement. Also, leave encashment of ten days (pay + dearness allowance) is paid.

(3) However, employees will not be able to avail the LTC in the 2018-21 year block due to the ongoing Covid-19 pandemic. This is where the LTC will benefit government employees.

(4) In lieu of one LTC during 2018-21, employees will receive a cash payment. There will be full payment on leave encashment and fare will be paid as per three slabs depending upon the class of entitlement. Further, there will be no tax on fare payment.

(5) An employee opting for this scheme will have to buy goods and services worth three times the fare and one time leave encashment, and do so before March 31, 2021.

(6) The money is to be spent on goods attracting GST of 12% or more and only digital payments will be allowed. Also, employees will have to provide a GST invoice.

(7) The finance minister said the scheme would cost Rs 5,675 crore if central government employees opt for it. However, for PSB and PSU employees, its cost would be Rs 1,900 crore.

(8) Sitharaman further projected that with even 50% states opting for this scheme, the government expects to infuse Rs 9,000 crore into the economy.

 

4. PM Modi launches Jan Andolan campaign on COVID-19 Appropriate Behaviour; Urges people to wear mask, wash hands & follow social distancing: Prime Minister Narendra Modi launched a campaign on Jan Andolan for COVID-19 Appropriate Behaviour in view of the upcoming festivals and winter season as well as the opening up of the economy. The highlights of the campaign include region-specific targeted communication in high case-load districts, simple and easily understandable messages to reach every citizen, dissemination throughout the country using all media platforms, banners and posters at public places involving frontline workers, and targeting beneficiaries of government schemes.

 

5. Delhi govt approves tree transplantation policy: Chief Minister of Delhi, Arvind Kejriwal has passed a first-of-its-kind in India ‘Tree Transplantation Policy’ to preserve trees for clean and green Delhi. As per this policy, the trees which needs be felled due to any circumstances, like for constructions and other development projects, would not be cut but instead uprooted and transplanted somewhere else.

Features of the Policy: At least 80 per cent of the total number of trees to be felled for any construction/development project, must be transplanted to other location. Also, the transplantation agency will need to ensure that 80 per cent of transplanted trees survive, following which only they will receive the payments. Additionally, compensatory plantation of 10 saplings for each tree, as being followed currently, will continue. This policy, however, will not apply if 10 or fewer trees are to be felled.

Note: Chief Minister of Delhi: Arvind Kejriwal; Governor of Delhi: Anil Baijal.

 

INTERNATIONAL UPDATES:

 

1. Union Cabinet approves signing of Memorandum of cooperation in field of cyber-security between India & Japan: The Union Cabinet approved signing of an agreement with Japan that is aimed at enhancing cooperation in emerging technologies, protection of critical infrastructure, cyberspace and to mitigate threats to communication networks. It said India and Japan are committed to an “open, interoperable, free, fair, secure and reliable” cyberspace environment and will work towards promoting the Internet as an engine of innovation and economic growth. The Union Cabinet, chaired by Prime Minister Narendra Modi has given its approval for signing a Memorandum of Cooperation [MoC] in the field of cybersecurity between India and Japan. The approval to the pact by the cabinet comes in the midst of growing concerns over cyberattacks from China, particularly after India banned over 100 mobile apps with Chinese links.

 

2. COVID-19 to push as many as 150 million people into extreme poverty by 2021: World Bank: The World Bank said that the coronavirus pandemic could push as many as 150 million people into extreme poverty by the end of 2021, wiping out more than three years of progress in poverty reduction. Releasing its flagship biennial report on poverty and shared prosperity, the multilateral development lender said that an additional 88 million to 115 million people will fall into extreme poverty – defined as living on less than $1.90 a day -in 2020. The report said this could grow to 111 million to 150 million by the end of 2021.

That would mean that 9.1-9.4% of the world’s population would be living under extreme poverty this year, about the same as 2017’s 9.2% and representing the first rise in the extreme poverty percentage in about 20 years. The 2019 extreme poverty rate was estimated at about 8.4% and had been expected to drop to 7.5% by 2021 before the coronavirus pandemic.

 

3. World Arthritis Day: 12th October: World Arthritis Day is observed globally on 12th October every year. The day is celebrated to raise awareness about arthritis, an inflammatory condition which causes pain and stiffness in joints which can worsen with age. Arthritis is an inflammation of the joints. It can affect one joint or multiple joints. There are more than 100 different types of arthritis, with different causes and treatment methods. The most common types are osteoarthritis (OA) and rheumatoid arthritis (RA). This day was started by Arthritis and Rheumatism International (ARI) in 1996 to spread awareness about arthritis and encourage policymakers to help reduce burden of arthritis. World Arthritis Day theme 2020: Time2Work.

 

OTHER UPDATES:

 

SPORTS

 

1. Lewis Hamilton wins 2020 Eifel Grand Prix: Lewis Hamilton (Mercedes-Great Britain) has won the 2020 Eifel Grand Prix, held at the Nürburgring in Nürburg, Germany. This is Hamilton’s 7th win of the season and 91st career race victory, which was till now achieved only by Michael Schumacher. Max Verstappen (Red Bull – Netherlands) came second followed by Daniel Ricciardo (Renault, Australia) at third position. The race was the eleventh race in 2020 Formula One World Championship and the first running in the history of the Eifel Grand Prix.

 

2. Rafael Nadal wins French Open 2020: Rafael Nadal beats Novak Djokovic to win the men’s 2020 French Open Title. This is his 13th French Open men’s singles title and 20th Grand Slam title. In Women’s single, Iga Swiatek of Poland, claimed a historic win, by becoming the youngest women to win the title in the history of the championship. She defeated Sofia Kenin, of the United States and became the first Polish tennis player to win the singles’ Grand Slam.

Winners of French Open Tennis 2020:

 

Category	Name of the Sportsperson
Men’s Single	Rafael Nadal (Spain)
Women’s Single	Iga Swiatek (Poland)
Men’s Double	Kevin Krawietz & Andreas Mies (Germany)
Women’s Double	Tímea Babos (Hungary) & Kristina Mladenovic (France)

 

BANKING AND FINANCE

 

1. HDFC Bank partners with Apollo Hospitals for holistic healthcare solution: HDFC Bank and Apollo Hospitals have joined hands to launch The HealthyLife Programme, a holistic healthcare solution which makes healthy living accessible and affordable on Apollo’s digital platform, Apollo 24/7. The programme is created exclusively for HDFC Bank customers who will get round the clock access to emergency Apollo Doctor at No Cost on Apollo 24|7 along with a plethora of benefits such as choice of payment options and ease of finance for treatments at all Apollo Hospitals.

 

2. LIC Housing launches ‘Project RED’ to improve efficiencies: LIC Housing Finance Ltd(LICHFL) launched “Project RED” (Reimagining Excellence through Digital transformation) to improve efficiencies at every level of the organisation. Project RED aims to create value across the entire spectrum of stakeholders that includes employees, shareholders, business associates, existing and potential customers of LICHFL. The project will be implemented over next 21 months and the housing finance company has appointed Boston Consulting Group (BCG) as its consultant for the project. It will be setting up a high-level project implementation group which will approve and monitor capacity building plans.

 

BUSINESS AND ECONOMY

 

1. India’s first B2B Crypto trading exchange DigitX launched: DigitX, India’s first business-to-business (B2B) cryptocurrency trading exchange, began its trading operations. DigiX aims to deliver transparent and secure model with its network of trusted links in a first of its kind industry initiative to instill trust and confidence in its investors and traders of cryptocurrency.

 

2. Tamil Nadu to set up advanced manufacturing hub in partnership with WEF: Guidance, nodal investment promotion and facilitation agency of the state of Tamil Nadu has partnered with the World Economic Forum (WEF) to establish India’s first advanced manufacturing hub (AMHUB) in Tamil Nadu. The Advanced Manufacturing HUB or AMHUB is one of the 19 platforms designed by the WEF. This platform focuses on engaging entire regional production ecosystems to identify and address regional opportunities and challenges brought by the Fourth Industrial Revolution (4IR) by amplifying regional success stories, sharing best practices & incubating new partnerships.

 

AWARDS AND HONOURS

 

1. Nobel Prize in Economic Sciences 2020 announced: The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank (Sweden’s central bank) Prize in Economic Sciences in Memory of Alfred Nobel 2020 to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats”.

Their theoretical discoveries have improved auctions in practice: This year’s Laureates, Paul Milgrom and Robert Wilson, have studied how auctions work. They have also used their insights to design new auction formats for goods and services that are difficult to sell in a traditional way, such as radio frequencies. Their discoveries have benefitted sellers, buyers and taxpayers around the world.

Paul R. Milgrom: He was born in 1948 in Detroit, USA. PhD. 1979 from Stanford University, Stanford, USA. Shirley and Leonard Ely Jr. Professor of Humanities and Sciences, Stanford University, USA. Robert B. Wilson: He was born in 1937 in Geneva, USA. D.B.A. 1963 from Harvard University, Cambridge, USA. Adams Distinguished Professor of Management, Emeritus, Stanford University, USA.

History of Nobel Prize in Economic Sciences: In 1968, Sveriges Riksbank (Sweden’s central bank) established the Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. The Prize is based on a donation received by the Nobel Foundation in 1968 from Sveriges Riksbank on the occasion of the Bank’s 300th anniversary. The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969. 

Daily GK Updates - 11th Oct, 2020

 

NATIONAL UPDATES:

 

1. Goa becomes India’s first ‘Har Ghar Jal’ State by providing tap water connection to every rural household: As per the data provided by the Ministry of Jal Shakti, Goa has become the first ‘Har Ghar Jal’ State in the country by providing tap water connection to every rural household. The state provided tap water connection to 2 lakh 30 thousand rural households in all the 191 Gram Panchayats of the state. North Goa with 1,65,000 rural households and South Goa with 98,000 rural households are fully saturated with assured piped water supply through tap connections.

 

2. ‘Sunidhi’ project launched to digitise Coal Mines Provident Fund Organisation services: The government announced the launch of an ambitious information technology project ‘Sunidhi’ to digitise all provident fund and pension related activities of the Coal Mines Provident Fund Organisation (CMPFO). The Sunidhi module was inaugurated by settling the provident fund and pension dues of three retired employees of Bharat Coking Coal Ltd (BCCL). This software application is running from its data centre at Hyderabad in sync with the Disaster Recovery Centre at Bhubaneshwar. CMPFO, a statutory body under the coal ministry, administers different schemes of provident fund, pension and deposit linked insurance for coal mine workers.

 

3. Delhi-Mumbai e-way to have India’s 1st 5 ‘animal bridges’ for safe passage of wildlife: To offer a safe passage to wildlife on the under-construction Delhi-Mumbai Expressway, five “animal overpasses” on the lines of “ecoducts” in the Netherlands are being planned, a first such effort in the country. These have been planned to ensure there are no disturbances to the Ranthambore Wildlife Corridor connecting Ranthambhore and Mukundra (Darrah) wildlife sanctuaries in Rajasthan. These will be natural-looking structures over the corridor and will provide safe passage for wildlife across the expressway.

 

4. IIT Kharagpur launches telemedicine software ‘iMediX’: IIT Kharagpur researchers have launched a telemedicine system ‘iMediX’ to help patients receive assistance from doctors without having to go to hospitals or clinics. ‘iMediX’ allows patients to request for consultation by choosing a department of a hospital, entering their complaints and uploading necessary medical records. The hospital then processes the request and assigns a doctor. The system iMediX which is accessible by any standard internet browser and also from a mobile device, has been developed by researchers at IIT Kharagpurs Department of Computer Science and Engineering.

 

5. Indian Foreign Service Day: 9th October: In India, the Indian Foreign Service (IFS) Day is celebrated on 9 October every year since 2011. The day is marked to commemorate the day when the IFS was created by the Indian Cabinet on 9 October 1946. On the occasion, Prime Minister Narendra Modi has greeted all the Indian Foreign Service officers for their work towards serving the nation and for their efforts during Vande Bharat Mission and other COVID related assistance towards Indian and foreign nationals.

 

6. ADB to invest $15 Million in Avaada Energy to expand Renewable Energy Capacity in India: The Asian Development Bank (ADB) will invest $15 million in Avaada Energy Private Limited (AEPL) to help the company to scale up photovoltaic solar energy generation capacity in India.The investment is ADB’s second in AEPL after a first round of $50 million made in April 2019. ADB is investing the $15 million via its Ordinary Capital Resources and from Leading Asia’s Private Infrastructure Fund (LEAP). The project will contribute to the Government of India’s strategy to increase the share of renewable energy generation capacity from about 20% in 2018 to 40% by 2030.  It reflects ADB’s commitment to provide cumulative climate finance of $80 billion from 2019 to 2030.

 

INTERNATIONAL UPDATES:

 

1. Sadyr Zhaparov elected as Kyrgyzstan’s acting PM: Kyrgyzstan’s Prime Minister Kubatbek Boronov has stepped down after the Central Electoral Commission annulled the results of parliamentary elections in response to accusations of vote-rigging. At an emergency session, the Kyrgyzstan parliament appointed Sadyr Zhaparov, a founder of the opposition Mekenchil party, which had lost the election, as acting prime minister.

Note: Kyrgyzstan Capital: Bishkek; Currency: Som

 

2. Finnish Prime Minister gives country’s top job to a 16-year-old for a day: In a truly remarkable development, a 16-year-old Finnish girl was made the country’s Prime Minister.Finnish Prime Minister Sanna Marin handed her power to a 16-year-old girl as apart of a campaign to promote girls’ rights in the country. Aava Murto of Vaasky in southern Finland turned incredibly lucky for a day. Aava, who is an active campaigner on issues relating to climate changes and human rights. The ‘PM for a day’ is part of a global ‘Girls Takeover’ campaign by children’s rights charity Plan International, which aims to raise awareness of girls’ digital skills in technological industries and highlight the problem of online harassment of women

 

3. World Sight Day 2020: 8th October: The World Sight Day is observed annually on the second Thursday of October. In 2020, the World Sight Day falls on 08 October 2020. World Sight Day 2020 Theme: “Hope In Sight”. The main aim of the day is to draw public awareness towards blindness & vision impairment and educate target audiences about blindness prevention. It was originally initiated by the SightFirstCampaign of Lions Club International Foundation in 2000.

 

4. World Day against the Death Penalty: 10th October: The World Day Against the Death Penalty is observed every year on 10 October. It is a day to advocate for the abolition of the death penalty and to raise awareness of the conditions and the circumstances which affect prisoners with death sentences. The day was first organised by the World Coalition Against the Death Penalty in 2003. The theme for 2020 is “Access to counsel – A matter of life or death.”

 

5. International Day of the Girl Child: 11th October: International Day of the Girl Child (also known as Day of Girls and the International Day of Girls) is observed annually on October 11 since 2012. This international observance day was declared by the United Nations to raise awareness of issues facing girls internationally surrounding education, nutrition, child marriage, legal and medical rights. The theme for 2020 International Day of the Girl Child is “My voice, our equal future”.

 

6. World Investor Week: October 5th-11th, 2020: World Investor Week (WIW) is promoted by the International Organization of Securities Commissions (IOSCO) and will be held between October 05 and October 11, 2020. This is the 4th World Investor Week and it aims to raise awareness about the importance of investor education and protection.

 

OTHER UPDATES:

 

SPORTS

 

1. India’s Yashaswini Singh Deswal wins 10m air pistol event in International Online Shooting Championship: Indian Olympic quota winner Yashaswini Singh Deswal won the 10m air pistol event in the fifth edition of the International Online Shooting Championship (IOSC). The second place was grabbed by Ahmed Nabil of Egypt while his compatriot Yehya Shams took the third place. Sylvia Steiner, an Olympic quota winner for Austria, settled for the fourth place.

 

BANKING AND FINANCE

 

1. BOB Financial, Mastercard join hands to launch 4 new variants of BOB Credit Card: BOB Financial Solutions, a wholly-owned subsidiary of Bank of Baroda, and Mastercard have launched 4 new credit cards catering to its customers across segments, including affluent as well as the first-time credit card owners. Two of these cards were in association with eminent professional institutions of the country. The new card variants are Eterna, which will cater to the distinctive needs of the NBFC’s affluent customers and will be offered to customers as part of the Radiance program of Bank of Baroda. Swavlamban, a ‘by Invitation only’ card, targets the low-income employees of select corporates and SMEs which have a banking relationship with Bank of Barod. 2 co-branded cards in partnership with the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India (ICMAI), which will be offered exclusively to chartered accountants and cost and management accountants respectively.

 

2. Interest subvention on MSME loans extended till end of March 2021: RBI: The Reserve Bank of India has said that the two per cent interest subvention scheme for micro, small and medium enterprises (MSMEs) on loans offered by co-operative banks has been extended till 31st of March next year. RBI has further informed that the scheme, initially announced for just two years, has been extended for the financial year 2020-21. RBI said that the coverage of the scheme is limited to all term loans and working capital to the extent of 100 lakh rupees, adding that the requirement of Udyog Aadhaar Number may be dispensed with for units eligible for GST.

 

BUSINESS AND ECONOMY

 

1. India to Overtake China as World’s Largest LPG Residential Market by 2030: India is expected to overtake China as the world’s largest cooking gas LPG residential sector market by 2030, Wood Mackenzie said. Liquefied petroleum gas (LPG) demand in the residential sector will continue to see sustainable growth at a cumulative annual growth rate (CAGR) of 3.3 per cent, reaching 34 million tonnes (MT) in 2030 as households’ dependence on solid biomass diminishes in the long run supported by rising average household incomes and urban population. Although nationwide LPG coverage has reached 98 per cent, up 42 per cent from 2014, usage is still low. Average annual cylinder refills have not kept up with the pace of new connections, with average consumption remaining below the benchmark of 12 cylinders.

 

2. Google launches ‘Make Small Strong’ initiative in India to help small, local businesses: Technology giant Google has launched a ‘Make Small Strong’ initiative in India to help small and local businesses across the country. The new initiative launched by Google will be aiming to support those small businesses, Kirana stores, vegetable vendors who have suffered massive loss during the lockdown period which was imposed to curb the spread of the coronavirus. The tech giant has noted that it has joined hands with Zoho and Instamojo for this campaign.

 

AWARDS AND HONOURS

 

1. Belarus, Iran, US, Nicaragua Activists Win ‘alternate’ Nobel Prize Of 2020: A Belarusian pro-democracy campaigner, an imprisoned Iranian human rights lawyer, a US civil rights attorney, and a Nicaraguan activist won a top Swedish honour sometimes called “the alternative Nobel Prize. Ales Bialiatski of Belarus and his NGO Viasna, Nasrin Sotoudeh of Iran, Bryan Stevenson of the United States and indigenous rights and environmental activist Lottie Cunningham Wren of Nicaragua share the Right Livelihood Award. Although the Right Livelihood Award is promoted as an “Alternative Nobel Prize”, it is not a Nobel prize.The top Swedish award has been honouring courageous changemakers since 1980, aimed at boosting urgent and long-term social change.

 

2. Mumbai Municipal Commissioner I.S. Chahal honoured with Global ‘Covid Crusader Award-2020’: Iqbal Singh Chahal, I.A.S., Municipal Commissioner of the Municipal Corporation of Greater Mumbai, wss honoured with Global ‘Covid Crusader Award-2020’ by the Indo American Chamber of Commerce(IACC) in the Indian Bureaucrats Category. Chahal has become the first Indian bureaucrat to be recognised and receive global acknowledgment for his contribution in controlling the novel coronavirus infection in India’s financial capital and for working to ‘flatten the curve’ in congested areas of the city, including Asia’s biggest slum Dharavi. 

Daily GK Updates - 10th Oct, 2020

 

NATIONAL UPDATES:

 

1. Piyush Goyal gets additional charge of Ministry of Consumer Affairs: The Union Minister Piyush Goyal has been assigned the additional charge of Ministry of Consumer Affairs, Food and Public Distribution in addition to his existing portfolios, following the death of union minister Ram Vilas Paswan. Goyal is currently serving as the Union Minister of Railways and Minister of Commerce and Industry.

 

2. Uttarakhand Govt launches “Mukhya Mantri Saur Swarojgar Yojana”: Uttarakhand Chief Minister, Trivendra Singh Rawat has launched the “Mukhya Mantri Saur Swarojgar Yojana” at the Veer Chandra Singh Garhwali Auditorium in Dehradun, Uttarakhand. The scheme is aimed at promoting self-employment of the youth and promoting the production of Green Energy. The targeted beneficiaries include youths and migrant workers, who returned home after leaving jobs in various parts of the country due to pandemic.

Under the scheme: 10, 000 Youths and Migrants will get self-employment in the Green Energy Sector. The targeted beneficiaries will be allocated Solar Plants of 25 Kilowatts (KW) each. 1.5-2 nalis (Land Measurement Unit) of Land and INR 10 Lakh at the rate of INR 40,000 per unit are required to set up each plant. The plants will generate 38,000 Units of Electricity per annum which will be bought by Uttarakhand Power Corporation Limited for 25 years.

Note: Governor of Uttarakhand: Baby Rani Maurya.

 

3. Goa Govt Releases ‘Aatmanirbhar’ Plan to Support Farmers: The Goa government released an action plan to support agriculture and animal husbandry under its “Aatmanirbhar” programme. The government has announced a series of initiatives under the ‘Aatmanirbhar Bharat Swayampoorna Goa programme’ (ABSGP) including promoting dairy and poultry farming. It talks about checking ‘menace’ of wild animals and cattle at agriculture fields. To help farmers, crop insurance and fencing will be availed. Horticulture cultivation, procurement of agricultural equipment, and sustainable harvesting of medical plants will also be assisted with it.

 

4. Gujarat to get country’s first two Organic Spices Seed parks: The Gujarat Chief Minister released the sanction letters to two farmer producer organisations (FPOs) for a NABARD-supported Organic Spices Seed Park for saunf (fennel seed) in the Banaskantha district and jeera (cumin seed) in Patan for promotion of organic seed value chain of the spices. The two spices seeds parks will create a complete value chain and provide capacity building training for the farmers. A total of ₹23 lakh in grant assistance has been accorded to both the parks, which will have 50 farmers each. Once ready, the specialised institutions will the collect seeds, which will be sent for testing on quality control.

 

5. National Postal Week: 9-15 October: The Department of Posts is celebrating National Postal Week from 9-15 October 2020, to mark the occasion of the World Postal Day. Every year, the National Postal week is organised to generate awareness of the role and activities of the postal services among the public and media on a national scale. The online campaign will be organised to create awareness about new offerings and availability of citizen-centric services in Post Offices.

Note: Universal Postal Union Headquarters: Bern, Switzerland; Universal Postal Union Head: Bishar Abdirahman Hussein; Universal Postal Union Founder: Heinrich von Stephan; Universal Postal Union Founded: 9 October 1874.

 

6. National Postal Day: 10th October: In India, the National Postal Day is celebrated annually on 10 October, as an extension of World Post Day, which is celebrated on 9 October. The Day aims to commemorate the role played by the Indian postal department for the past 150 years, which was founded in 1854 by Lord Dalhousie.

Indian postal service: Indian postal service is an integral part of India. The postal services in India have given the best performance despite the diversity in culture, tradition and difficult geographical terrains.

India’s PIN Code system: PIN in Pincode stands for Postal Index Number. The 6-digit PIN system was introduced by Shriram Bhikaji Velankar, an additional secretary in the Union Ministry of Communications on 15 August 1972. The first digit of the PIN code marks the region. The second digit denotes the sub-region. The third digit marks the district. The last three digits show the post office under which a particular address falls.

Note: Indian Post Secretary: Pradipta Kumar Bisoi; Indian Post Headquarters: New Delhi.

 

INTERNATIONAL UPDATES:

 

1. Mukesh Ambani tops the Forbes India Rich List 2020: The Reliance Industries Limited (RIL) Chairman Mukesh Ambani, has topped the Forbes India Rich list for 2020. He has retained his position as the wealthiest Indian for the 13th consecutive year on Forbes India list. The tycoon added $37.3 billion to his net worth, to bring his total fortune to $88.7 billion, a rise of 73% over the previous year. The second spot has been retained by Adani Group Chairman Gautam Adani, with a net worth of $25.2 billion. Tech tycoon Shiv Nadar acquired the third spot with a net worth of $20.4 billion.

 

2. World Mental Health Day: 10th October: World Mental Health Day is observed globally on 10th October every year. The day is celebrated with an objective of raising awareness of mental health issues around the world and mobilizing the efforts in support of mental health. World Mental Health Day is organized by the World Federation for Mental Health. This year’s theme set by the World Federation for Mental Health is ‘mental health for all’.

The day was first celebrated in 1992 at the initiative of the World Federation for Mental Health, a global mental health organization. The Day provides an opportunity for all stakeholders working on mental health issues to talk about their work, and what more needs to be done to make mental health care a reality for people worldwide.

Note: President of World Federation for Mental Health: Ingrid Daniels; World Federation for Mental Health Founded: 1948.

 

3. World Migratory Bird Day: 10th October: World Migratory Bird Day is observed globally on 9 May or 10th October. The Day will celebrate the biannual migration. The aim of the day is to raise awareness of migratory birds and the importance of international cooperation to conserve them. This time the theme of World Migratory Bird Day 2020 is “Birds Connect Our World”. The theme highlights the importance of conserving and restoring the ecological connectivity and integrity of ecosystems that support the natural cycles that are essential for the survival and well-being of migratory birds.

This day is organized by a collaborative partnership among two UN treaties the Convention on Migratory Species (CMS) and the African-Eurasian Migratory Waterbird Agreement (AEWA) and the Colorado-based non-profit organization, Environment for the Americas (EFTA). This day is a global campaign dedicated to raising awareness of migratory birds and the need for international cooperation to conserve them.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. NABARD inks 3 MoUs with SBI to extend credit support: National Bank for Agriculture and Rural Development (NABARD) has inked three Memorandum of Understanding (MoU) with State Bank of India (SBI) to extend credit support for various NABARD projects. The MoUs were inked by D. K. Mishra, Chief General Manager of NABARD in Gujarat and Dukhbandhu Rath, Chief General Manager, SBI Ahmedabad Circle in the presence of NABARD Chairman G. R. Chintala.

About Memorandum of Understanding: The MoUs were signed for financing joint liability groups, Self-Help Groups-support credit inflows to Farmer Producers’ Organizations and economic support for watershed development projects. These will help in providing credit support to the different sections of the society including the priority sector.

Note: NABARD Chairman: G. R. Chintala.

State Bank of India Chairman: Dinesh Kumar Khara; State Bank of India Headquarters: Mumbai, Maharashtra.

 

2. J Venkatramu appointed MD and CEO of India Post Payments Bank: J Venkatramu has been appointed the managing director and chief executive officer of India Post Payments Bank (IPPB). He will succeed Suresh Sethi, who served the post till March 2020. Venkatramuis presently working as the chief digital officer in Equitas Small Finance Bank. He has been appointed to the post of MD and CEO of IPPB for a period of three years.

Note: Prime Minister Narendra Modi had launched IPPB in 2018.

India Post Payments Bank (IPPB) was incorporated as Payments Banking Company under Section 22 (1) of Banking Regulation Act, 1949.

India Post Payments Bank (IPPB) Headquarters: New Delhi.

 

DEFENSE

 

1. DRDO successfully test-fires anti-radiation missile “Rudram”: The DRDO has successfully flight-tested a new generation Anti-Radiation Missile (RUDRAM-1) at the Wheeler Island off the coast of Odisha. The missile was launched from SU-30 Mk1 fighter aircraft. The missile, having a speed of Mach two or twice the speed of sound, is capable of bringing down a wide-range of enemy radar systems, communication networks and air defence systems within a range of up to 250 kilometres. About RUDRAM:

(1) The RUDRAM is a first indigenous anti-radiation missile of the country for Indian Air Force (IAF), being developed by Defence Research and Development Organisation (DRDO).

(2) With this, the country has established indigenous capability to develop long-range air-launched anti-radiation missiles for neutralising enemy Radars, communication sites and other RF emitting targets.

(3) It has INS-GPS navigation with Passive Homing Head for the final attack. The RUDRAM hit the radiation target with pin-point accuracy.

(4) The Passive Homing Head can detect, classify and engage targets over a wide band of frequencies as programmed.

(5) The missile is a potent weapon for IAF for Suppression of Enemy Air Defence effectively from large stand-off ranges.

 

2. Coastal security exercise “Sagar Kavach” concludes: A two-day Coastal Security Exercise namely ‘Sagar Kavach’ conducted by the Indian Navy along with Indian Coast Guard and all stakeholders involved in Coastal Security from the coast of Kerala. The exercise was monitored from Joint Operations Centre, Kochi. Sagar Kavach is a half-yearly exercise with an objective to check the Coastal Security mechanism and validate Standard Operating Procedures. The exercise conducted along the coastal areas of Kerala, Karnataka and Lakshadweep assumes significance in the backdrop of the prevailing security situation in the country.

 Apart from Indian Navy and Indian Coast Guard, Coastal Police, Coastal District Administration, Cochin Port, Fisheries Department, Customs, Marine Enforcement Wing (MEW), Central Industrial Security force (CISF), Intelligence Bureau (IB), LightHouse Department and fishermen community participated in the exercise. Extensive air patrol and surveillance of the adjoining seas were also undertaken by the aircraft, helicopters and Remotely Piloted Aircraft (RPA) of the Indian Navy and Coast Guard to detect ships and vessels of the opposing force.

Note: Chief of the Naval Staff: Admiral Karambir Singh.

 

OBITUARIES

 

1. First woman chief justice of Kerala KK Usha passes away: Former Chief Justice of the Kerala High Court, Justice KK Usha, passed away. She served as a judge from 1991 to 2000. And when she was appointed Chief Justice of the Kerala High Court from 2000 to 2001, Justice Usha became the first woman to join the High Court Judiciary from the Bar and became a Chief Justice.

About Justice KK Usha: Justice Usha, who had a distinguished career as a judge and later as chief justice, began her career when she enrolled as an advocate in 1961. She was India’s representative at the United Nations’ Joint Seminar on ‘Convention on the elimination of all forms of discrimination as regards women’, organised by the International Federation of Women Lawyers and the International Federation of Women of Legal Careers. She was a member and the President of the University Women’s Association.

 

2. Mexican Nobel Laureate Mario Molina passes away: Renowned Mexican scientist and Nobel Prize winner Mario Molina (77 years) passed away. He won Nobel Prize for Chemistry in 1995 and was the first Mexican to win the Nobel Prize for Chemistry. He along with other fellows Frank Sherwood Rowland and Paul Crutzen were awarded Nobel Prize for their work showing how chlorofluorocarbons (CFCs) used in spray cans were destroying the ozone layer in 1995. He was appointed a scientific adviser to U.S. President Barack Obama in 2008. 

Daily GK Updates - 9th Oct, 2020

 

NATIONAL UPDATES:

 

1. UP government signs agreement with Zurich Airport for Jewar Airport: The Uttar Pradesh government has signed a concession agreement with representatives of Zurich Airport International for designing, building and operating Noida International Airport at Jewar for a period of 40 years. The airport will be developed as a Public-Private Partnership (PPP) and is scheduled to open in 2024.

About the agreement: The ‘concession agreement’ for the Greenfield airport, estimated to cost Rs 29,560 crores, was inked between the Uttar Pradesh government’s agency and the Yamuna International Airport Private Limited (YIAPL), a special purpose vehicle floated by the Zurich Airport for the project.

Note: Chief Minister of Uttar Pradesh: Yogi Aditya Nath; Governor: Anandiben Patel.

 

2. Meghalaya Govt partners with Israel to set up ‘Centre of Excellence’: Meghalaya government has entered into a partnership with Israel to establish a one of a kind Centre of Excellence(CoE) on high-value vegetables in the state to improve and promote the livelihoods of farmers. CoE is important for tapping the diverse biodiversity and available resources in the state in terms of its soil and agro-climatic condition. Benefits of CoE:

(1) Considering the State has a gene pool of important vegetables, fruits and plants like Citrus fruits in Nokrek, East Garo Hills District, the CoE will act as a stimulus for more research work and also for expansion into multi-fold aspects including tourism potential.

(2) By generating/propagating seedlings through Quality Planting Materials, CoE is likely to create a meaningful impact.

(3) It will enhance cultivation by introducing techniques and technology support and creating water harvesting and conservation initiatives.

(4) To address the marketing issue, it will explore the possibility to establish a State of the Art Packing House.

Note: Meghalaya Chief Minister: Conrad Sangma; Meghalaya Governor: Satya Pal Malik; Meghalaya Capital: Shillong.

Israel Capital: Jerusalem; Israel Currency: Israeli Shekel; Israel Prime minister: Benjamin Netanyahu

 

3. Amazon India ties up with IRCTC to start online train ticket bookings: Amazon India has partnered with ‘Indian Railway Catering and Tourism Corporation’ (IRCTC), to provide its customers with the facility to book reserved train tickets on Amazon. With this launch, the e-commerce company’s digital payments arm Amazon Pay adds another travel category, thereby offering its customers a one-stop-shop for booking flights, bus and train tickets.

Benefits of this facility:

(1) With this new offering, users will be able to check seat and quota availability across all train classes on the Amazon app.

(2) They can pre-load money into their Amazon Pay Balance wallet to make this experience even smoother and pay in a single click.

(3) Amazon.in is offering the customers with a variety of self-serve options such as live checking of PNR status (for ticket booked on Amazon only), downloads and cancellations of tickets booked on Amazon.

(4) Users paying with Amazon Pay Balance also get an instant refund in case of cancellations or booking failures.

(5) Customers will get a 10 per cent cashback on their first train ticket booking and Prime members can avail 12 per cent cashback up for these bookings. For the introductory period, Amazon.in has also waived off service and payment gateway transaction charges.

(6) Customers can book their tickets by clicking the trains and travel category under the Amazon Pay tab. They can select their route and travel dates and get a list of all available trains.

(7) Users can use their Amazon Pay balance or Amazon Pay ICICI credit card or any other digital payment methods for an easy checkout experience.

(8) In case customers need to cancel a ticket, they can do so under the ‘Your Orders’ section. They can also seek 24×7 help through an Amazon helpline over phone and chat.

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

 

4. API integration between PM SVANidhi, SBI portal launched: The Ministry of Housing & Urban Affairs will integrate the application programming interface (API) between SVANidhi portal and various banks to expedite loan sanctioning and disbursement process under Modi government’s PM SVANidhi scheme for nano entrepreneurs. To begin with, the ministry launched the API integration between the PM SVANidhi portal and SBI’s eMudra portal. Ministry would perform similar integration with other banks as well for which a consultative meeting will be held shortly.

Advantages of Integration: This integration will ease uninterrupted data flow between the 2 portals in a secure ambience and accelerate the loan sanctioning and disbursement process that benefits the street vendors who seek working loan capital under the scheme. This integration will facilitate the seamless flow of data between the PM SVANidhi Portal and SBI’s mudra Portal in a secure environment. It will expedite the loan sanctioning and disbursement process, to benefit the street vendors seeking a working capital loan under the Scheme.

Note: Minister of State (IC) of the Ministry of Housing and Urban Affairs: Hardeep Singh Puri.

 

INTERNATIONAL UPDATES:

 

1. Jordan’s King Abdullah II appointed Bishr al-Khasawneh as PM: King of Jordan, Abdullah II ibn Al Hussein has appointed Bishr al-Khasawneh, policy advisor to the king, as new Prime Minister of the country. His appointment comes after King Abdullah II ibn Al Hussein accepted the resignation of Prime Minister Omar al Razzaz.

About Bishr al-Khasawneh:  He served as the advisor to the king for Communication and Coordination at The Royal Hashemite Court (April 2019- August 2020). He served as the Minister for Legal Affairs (2017- 2018). He was a Former Ambassador of Jordan to Egypt, France, Kenya, Ethiopia, African Union, League of Arab States, and also to UNESCO (United Nations Educational, Scientific and Cultural Organization).

Note: Capital of Jordan: Amman; The currency of Jordan: Jordanian dinar.

 

2. World Post Day: 9th October: World Post Day is observed on 9th October every year. The purpose of World Post Day is to create awareness of the role of the postal sector in people’s and businesses’ everyday lives and its contribution to the social and economic development of countries. World Post Day is celebrated each year on 9 October, the anniversary of the establishment of the Universal Postal Union in 1874 in the Swiss Capital, Bern. It was declared World Post Day by the UPU Congress held in Tokyo, Japan in 1969. Since then, countries across the world participate annually in the celebrations. Posts in many countries use the event to introduce or promote new postal products and services.

 

3. World Egg Day 2020: 9th October: World Egg Day is celebrated worldwide on the second Friday in the month of October each year. In 2020, the day is being observed on 9th October 2020. The Day was established at the IEC Vienna 1996 conference and helps to raise awareness of the benefits of eggs and their importance in human nutrition. The theme for 2020 World Egg Day is “Eat Your Egg Today And Every Day”.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI’s 3rd Bi-Monthly Monetary Policy Statement 2020-21 Released: The Monetary Policy Committee of the Reserve Bank of India met on 7th, 8th and 9th October for its third meeting of 2020-21. Reserve Bank of India (RBI) governor Shaktikanta Das has announced crucial policy decisions at the Bank’s 3rd bi-monthly monetary policy. On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting decided to:

(1) The repo rate under the liquidity adjustment facility (LAF) has been kept unchanged at 4.00%.

(2) The reverse repo rate under the LAF has been kept unchanged at 3.35%.

(3) The marginal standing facility (MSF) rate and the Bank Rate have been kept unchanged at 4.25%.

(4) The Reserve Bank of India (RBI) will introduce on-tap targeted long-term repo operations (TLTRO) for banks to borrow up to Rs 1 trillion from the window and invest in corporate bonds and other debt instruments of certain sectors. The on-tap TLTROs will have tenors of up to three years at a floating rate linked to the policy repo rate and the scheme will be available up to 31 March 2021.

(5) Real GDP growth is expected to be negative. The RBI’s MPC has pegged the real GDP growth for FY21 to contract by 9.5%.

 

2. CMD of J&K Bank, R.K. Chhibber gets another 6 months extension by RBI: Reserve Bank of India (RBI) has extended the term of Rajesh Kumar(R.K.) Chhibber as Chairman and Managing Director (CMD) of Jammu & Kashmir Bank for another 6 months, effective from October 10, 2020, or till the appointment of Managing Director(MD) and Chief Executive Officer(CEO), whichever is earlier. Prior to this, he got an extension of 3 months with effect from July 10, 2020.

About R.K. Chhibber: He joined J&K Bank as the Probationary Officer in the year 1982 and has led the bank in different capacities namely, as Vice-President in 2009 among others. He also served as the Chairman of J&K Grameen Bank. He was elevated as the Executive President on June 1, 2018.

Note: Jammu & Kashmir (J&K) Bank Headquarters: Srinagar, Jammu & Kashmir.

 

3. Nilesh Shah re-elected as Chairman of AMFI: Nilesh Shah has been re-elected as the Chairman of Association of Mutual Funds in India (AMFI). He was earlier elected as the Chairman for 2019 – 2020. Nilesh Shah would also continue as the ex-officio Chairman of AMFI Financial Literacy Committee, being the Chairman of AMFI. These decisions were taken by AMFI, the industry body of SEBI-registered mutual funds at its Board Meeting.

Saurabh Nanavati (Chief Executive Officer, Invesco Asset Management (India) Private Limited.) has been re-elected as the Vice-Chairman of AMFI.

Note: CEO of Association of Mutual Funds in Indian: S. Venkatesh.

 

BUSINESS AND ECONOMY

 

1. World Bank expects India’s GDP to contract by 9.6% in FY-21: The World Bank projected India’s GDP to contract by 9.6% this FY-21, which is reflective of the national lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic. The World Bank earlier in June had estimated the Indian economy to shrink by 3.2% in the current fiscal.

The World Bank recently released its report titled ‘South Asia Economic Focus’, noting that the country’s economic situation is much worse than ever seen before. The report also forecasted a sharper than expected economic slump across the South Asian region, with regional growth expected to contract by 7.7% in 2020, after topping 6% annually in the past five years. Regional growth is projected to rebound to 4.5% in 2021.

 

AWARDS AND HONOURS

 

1. Nobel Prize in Peace 2020 announced: The Norwegian Nobel Committee has decided to award the Nobel Peace Prize for 2020 to the World Food Programme (WFP). The World Food Programme is the world’s largest humanitarian organization addressing hunger and promoting food security. In 2019, the WFP provided assistance to close to 100 million people in 88 countries who are victims of acute food insecurity and hunger.

About the World Food Programme (WFP): The work of the World Food Programme to the benefit of humankind is an endeavour that all the nations of the world should be able to endorse and support. The World Food Programme (WFP) is an efforts to combat hunger, for its contribution to bettering conditions for peace in conflict-affected areas and for acting as a driving force in efforts to prevent the use of hunger as a weapon of war and conflict. In 2015, eradicating hunger was adopted as one of the UN’s Sustainable Development Goals. The WFP is the UN’s primary instrument for realising this goal. In recent years, the situation has taken a negative turn. In 2019, 135 million people suffered from acute hunger, the highest number in many years. Most of the increase was caused by war and armed conflict.

 

OBITUARIES

 

1. Union Minister Ram Vilas Paswan passes away: Union minister of consumer affairs, food and public distribution, Ram Vilas Paswan passed away. He was born on 5 July 1946. He was also the president of the Lok Janshakti Party, eight-time Lok Sabha member and current Rajya Sabha MP. Ram Vilas Paswan started his political career as a member of Samyukta Socialist Party and was elected to the Bihar Legislative Assembly in 1969. Later, Paswan joined Lok Dal upon its formation in 1974 and became its general secretary. He opposed the emergency and was arrested during the period. He entered the Lok Sabha in 1977, as a Janata Party member from Hajipur constituency, was chosen again 1980, 1989, 1996 and 1998, 1999, 2004, and 2014.