Daily GK Updates – 18th Nov, 2020

 

NATIONAL UPDATES:

 

1. Nitish Kumar sworn-in as Chief Minister of Bihar for 7th term: The Chief of Janata Dal (United), Nitish Kumar has taken an oath as the Chief Minister of Bihar and he will begin his 7th term on 16th November 2020. Bihar Governor Phagu Chauhan administered the oath of office and secrecy to Mr Kumar at Raj Bhavan in Patna. BJP legislature party leader Tarkishore Prasad and Deputy Leader Renu Devi have been made the new Deputy Chief Ministers. 14 other ministers were also sworn in along with Mr Kumar. Out of them, seven are from BJP, five from JD (U) and one each from Vikassheel Insaan Party (VIP) and Hindustani Awam Morcha (HAM).

 

2. Centre Forms Inter-Ministerial Committee to strengthen capital goods sector; Head- Secretary of Department of Heavy Industries: The Central government has set up an Inter-Ministerial Committee to strengthen the capital goods sector, to help them in contributing more actively towards the national goal of achieving a USD 1 trillion manufacturing sector. The 21-member Inter-Ministerial Committee will be headed by Secretary of Department of Heavy Industries (Shri Arun Goel). The committee will work out ways and means to make the capital goods sector globally competitive and to become the manufacturing hub for the world.

Note:Union Minister of Heavy Industries and Public Enterprises: Prakash Javadekar

 

3. Centre mandates e-invoicing system for firms with turnover of Rs 100 cr or more from January 2021: The government has made it mandatory for companies with annual turnover of Rs 100 crore and above to go for e-invoicing for business to companies (B2C) transactions. This new rule will be applicable from 01 January 2021. Currently, e-invoicing is mandatory for companies with annual turnover of at least Rs 500 crore. Under the system, companies will have to raise e-invoices through a unique invoice reference portal and generate the IRN (invoice reference number). Otherwise the companies concerned will not be able to move goods for business-to-business (B2B) transactions.

 

4. Keetham Lake in Uttar Pradesh added to Ramsar sites: The Keetham Lake, also known as Sur Sarovar, in Agra of Uttar Pradesh has been added to the list of Ramsar sites. More than 106 species of migratory birds rest in Sur Sarovar Lake. The water of the lake is obtained from Agra Canal. The canal originates from Okhla barrage on River Yamuna in Delhi. The aim of the Ramsar list is to develop and maintain an international network of wetlands which are important for the conservation of global biological diversity and for sustaining human life through the maintenance of their ecosystem components, processes and benefits.

 

5. Lonar Lake in Maharashtra chosen as ‘Ramsar site’: The Lonar Lake in Buldhana district of Maharashtra has been chosen as a wetland site of international importance under the Ramsar conservation treaty. Lonar Lake was formed by the impact of a meteorite on basalt bedrock several thousand years ago. An area of 365 hectares around the lake, which itself is spread over 77.69 hectares, was declared a wildlife sanctuary in June 2000.

About Ramsar Site: A Ramsar Site is a wetland site designated to be of international importance under the Ramsar Convention. The name Ramsar comes from the Ramsar City of Iran, where this treaty was signed.  The Convention on Wetlands is also known as the Ramsar Convention. It is an intergovernmental environmental treaty established in 1971 by UNESCO and came into force in 1975.

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

 

6. National Epilepsy Day: 17th November: In India, November 17 is observed every year as National Epilepsy Day, to create awareness about epilepsy. The month of November is observed as ‘National Epilepsy Awareness Month’. This National Epilepsy Day is observed by the Epilepsy Foundation of India. The National Epilepsy Day is a national level campaign initiated by the Epilepsy Foundation of India to reduce the prevalence of Epilepsy in India. The Epilepsy Foundation of India in Mumbai, Maharashtra was established by Dr Nirmal Surya in 2009. Epilepsy Foundation of India is a non-profitable charitable organisation to help the people with seizures to have a fulfilling life and to change the view about epilepsy in the society.

About Epilepsy: Epilepsy is a varied set of persistent neurological disarray and causes sudden seizures and fits. The seizures of epilepsy result due to the unusual and extreme activities in the brain and the seizures also result from the hypersynchronous neuronal brain activity.

 

7. Naturopathy Day: 18th November: The National Naturopathy Day is observed in India on 18 November every year, to promote positive mental and physical health through a drugless system of medicine, called as Naturopathy. The 48-day program of webinars will continue till the third National Naturopathy Day, which falls on 18 November 2020. The day was declared by the Ministry of AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy), Government of India, on November 18, 2018.

As a part of the occasion, National Institute of Naturopathy (NIN), Pune under Ministry of AYUSH has organised a series of webinars on ‘Gandhian philosophy of Self Reliance through Self Health Reliance’ on Mahatma Gandhi’s 150th birth anniversary celebrations from 2nd Oct 2020. It was on this day in 1945 when Mahatma Gandhi became lifetime Chairman of the All India Nature Cure Foundation Trust and signed the deed with the object of making the benefits of Nature Cure available to all classes of people.

Note: Minister of State (IC) of the Ministry of AYUSH: Shripad Yesso Naik

 

INTERNATIONAL UPDATES:

 

1. S. Jaishankar Represents India at 15th East Asia Summit 2020: The External Affairs Minister Dr S. Jaishankar has represented India at the 15th East Asia Summit (EAS) on behalf of PM Modi. The Summit was chaired by the Prime Minister of Vietnam Nguyen Xuan Phuc because Vietnam is ASEAN Chair in 2020 (ASEAN holds the central role and leadership in the forum). All the 18 EAS countries participated in the virtual Summit. Jaishankar underlined the key role played by the East Asia Summit (EAS) as a leading mechanism of the Indo-Pacific region and reiterated India’s support to make it stronger and more responsive. He also re-affirmed the importance of EAS as the Leaders-led forum to exchange views on strategic issues. On Covid-19, he briefed the EAS leaders about India’s response to the pandemic and highlighted India’s efforts to support the international community.

 

2. India Extends USD1 Million Aid For Covid-19 ASEAN Response Fund: India has extended financial contribution of USD 1 million to the COVID-19 ASEAN Response Fund. This was announced by Prime Minister Narendra Modi at the 17th ASEAN-India Summit, which was held virtually. Leaders from the 10 ASEAN countries welcomed the adoption of the new ASEAN-India Plan of Action for 2021-2025, at the conclusion of the Summit. PM Modi, participated in the 17th ASEAN-India Summit at the invitation of the Prime Minister of Vietnam Nguyen Xuan Phuc, who is the current chair of ASEAN.

 

3. World Day of Remembrance for Road Traffic Victims: 15th November : World Day of Remembrance for Road Traffic Victims is marked every year on Third Sunday in the month of November. In 2020, World Day of Remembrance for Road Traffic Victims falls on 15 November 2020. Purpose – to remember those killed and injured on the roads, together with their families, friends, and others affected. Theme 2020: “First Responders”. The day was started by the British road crash victim charity, RoadPeace, in 1993 and was adopted by the United Nations General Assembly in 2005.

 

4. World COPD Day 2020: 18th November: World COPD Day is observed on the third Wednesday of November every year to raise awareness about chronic obstructive pulmonary disease (COPD) and improve COPD care throughout the world. World COPD Day 2020 falls on 18 November 2020. The 2020 theme: Living Well with COPD-Everybody, Everywhere. The day is organized by the Global Initiative for Chronic Obstructive Lung Disease (GOLD) in collaboration with health care professionals and COPD patient groups throughout the world. The first World COPD Day was held in 2002. Chronic obstructive pulmonary disease is a lung disease that blocks airflow and makes it difficult to breathe.

 

OTHER UPDATES:

 

SPORTS

 

1. Novak Djokovic lifts ATP Year-end No. 1 Trophy for 6th time: Serbian tennis star Novak Djokovic has given the ATP Tour No. 1 trophy on 15 November 2020, for finishing 2020 as the year-end No. 1 (world number one). With this, he has become the only second player in tennis history, after Pete Sampras, to receive the trophy sixth time. Earlier Djokovic had finished as world number one in 2011, 2012, 2014, 2015 and 2018. Before this, only Pete Sampras has managed to finish six years on top of the rankings which he did between 1993 and 1998.

 

BANKING AND FINANCE

 

1. IFSCA approves draft banking regulations at IFSC: International Financial Services Centres Authority (IFSCA) has conducted a meeting in New Delhi. The IFSC Authority approved the International Financial Services Centres Authority (Banking) Regulations, 2020 in the meeting. The draft banking regulations approved at the meeting opens the way for making rules for the various aspects of banking operations that would be permissible at the IFSC. As banking plays an important role at IFSC, banking regulations will help it in reaching its desired potential. Features of Banking Regulations:

(1) To lay down the obligations for setting up IFSC Banking Units (IBUs).

(2) To Permit the persons residing outside India (with net worth not less than USD 1 Million) to open foreign currency accounts in any freely convertible currency at IFSC Banking Units (IBUs).

(3) To permit persons residing in India (with net worth not less than USD 1 Million) to open foreign currency accounts in any freely convertible currency at IBUs in order to undertake any permissible current account or capital account transaction or any combination thereof under RBI’s Liberalized Remittance Scheme (LRS).

(4) To lay down the activities of IBUs that are permissible including credit insurance and sale, credit enhancement, engage in factoring and forfeiting of export receivables, purchase of portfolios, and undertake equipment leasing.

(5) To permit the authority for determining business that an IBU may be permitted to conduct in INR with persons residing in India and persons residing outside India, subject to the settlement of the financial transaction related to such business in freely convertible foreign currency.

Note: Chairman of the IFSCA: Injeti Srinivas; Headquarters of IFSCA: Gandhinagar, Gujarat.

 

BUSINESS AND ECONOMY

 

1. HDFC Bank, IndusInd in ‘red flag’ list on nearing foreign investment cap: HDFC Bank & IndusInd Bank have been put in the ‘red flag’ list, a system used for monitoring foreign portfolio investor (FPI) limits. A listed company enters the list when the available legroom for overseas investment is less than 3% of the permissible limit. FPIs can invest up to 74% in both HDFC Bank and IndusInd Bank. The current FPI shareholding in case of HDFC Bank is 71.3 per cent, while that of IndusInd Bank is 73.1 per cent. Besides these two, Novartis India and Procter & Gamble Hygiene and Health Care are the only other companies in the red-flag list.

 

DEFENCE

 

1. 2nd Phase of Exercise Malabar 2020 begins in Arabian Sea: The second phase of Exercise Malabar 2020 has been organised in the Northern Arabian Sea from 17 to 20 November 2020. The first Phase of Exercise Malabar 2020 was conducted in the Bay of Bengal from 03 to 06 November 2020. Exercise Malabar 2020 is the 24th edition of MALABAR. The second phase will witness joint operations, centred around the Vikramaditya Carrier Battle Group of the Indian Navy and Nimitz Carrier Strike Group of the US Navy. It would include cross-deck flying operations and advanced air defence exercises, advanced surface and anti-submarine warfare exercises, seamanship evolutions and weapon firings to further enhance interoperability and synergy between the four friendly navies.

 

OBITUARIES

 

1. Noted journalist and writer Ravi Belagere passes away: Noted journalist and writer Ravi Belagere passed away. He was from Karnataka. He was famous for writings on the crime world and his column ‘Paapigala Lokadalli’ was very popular. Belagere was honoured with many awards, including the Karnataka Sahitya Academy award, Kannada Rajyotsava awar, Karnataka Media Academy award and many more. Also an educationist, Belagere started Prarthana School, where his mortal remains were kept for the public to view, before being taken to the crematorium. He penned a book on the real-life story of the gangsters, titled Bheema Theerada Hanthakaru, which was published in 2001, and turned into a bestseller.

Daily GK Updates – 17th Nov, 2020

NATIONAL UPDATES:

 

1. Saffron Production in India being extended to the North East Region: Saffron production, which was till now restricted to a limited geographical area in the Union territory of Jammu & Kashmir, is now being extended to the North East of India. The Pampore region of Jammu & Kashmir, which is commonly known as Saffron bowl of Kashmir, is the main contributor to saffron production in India. It is followed by Budgam, Srinagar, and Kishtiwar districts. However the government is now looking to explore the feasibility of growing saffron in North East region of India, with the same quality and higher quantity. North East Centre For Technology Application and Reach (NECTAR), an autonomous body under the Department of Science & Technology, Government of India conducted a pilot project, under which, the Botany and Horticulture department of Sikkim Central University carried out tests to understand the soil and actual pH conditions of Yangyang of Sikkim. The soil was found comparable to saffron growing places of Kashmir. As a result, Saffron seed/corms were purchased and air transported from Kashmir to Yangyang site by the department. The initiative will expand the geographical boundary for production of saffron as well as improve its farming, under the National Mission on Saffron of Central government.

 

2. Ministry of Textiles launches “Local4Diwali” campaign: The Union Ministry of Textiles has launched a campaign for Diwali- “Local4Diwali”. The campaign has been launched to promote the Indian handicraft which is the cultural heritage of the country and also a source of livelihood for many. As per the available data, the handicrafts sector is a major sector of women empowerment as almost 55% of the workers and artisans are women.

Aim of the Local4Diwali Campaign: The main aim of the #Local4Diwali campaign is to urge people to buy and gift Indian handicraft products on this Diwali. The basic aim of the campaign is to give a boost to Indian handicrafts and artisans. This campaign will help the handicraft artisans and workers in increasing their sales and promoting their business. After the promotion of the idea of “Vocal for Local” by PM Modi, every sector is working towards promoting local businesses and strengthening Atmanirbhar Bharat Abhiyan.

Note: Minister of Textiles: Smriti Zubin Irani.

 

3. World’s first Tram library for children launched in West Bengal: On the occasion of Children’s Day, a first-of-its-kind in the world, library on the tram for children was launched in Kolkata, West Bengal. A tram is a rail vehicle that runs on tramway tracks along public streets. The tram would run on Shyambazar-Esplanade and Esplanade-Gariahat routes, spanning across north and south Kolkata, every day from morning to evening. It has been jointly developed by the West Bengal Transport Corporation (WBTC) and Apeejay Anand Children’s Library and will have around 1,000 books.

Note: Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.

 

4. NPCI imposes 30% cap on transaction volumes via UPI for third party apps: The National Payments Corporation of India (NPCI) has imposed a cap of 30 percent of the total volume of transactions processed in UPI, on all the Third Party App Provider (TPAP). It means that each of the Third Party App Providers (TPAPs), which provide payments services via UPI, will be allowed to process a maximum of 30% of the total volume of UPI transactions. This will be with effect from January 1, 2021 The existing TPAPs whose limit exceeds the specified cap will get a period of two years from January 2021 to comply with the same in a phased manner. However, for the new entrants such as WhatsApp Pay, the 30% cap will be applicable from January 2021. As per data available on the NPCI website, there are 21 third party applications live on the UPI platform, such as Amazon, Whatsapp, Samsung and Google.

 

5. A New Book on Gulzar “Boskiyana” by Radhakrishna Prakashan: ‘Boskiyana’, a new Hindi book on Gulzar, veteran Indian poet-lyricist has been published by Radhakrishna Prakashan. The book portrays the life of Gulzar through his films, poetry, philosophies, lifestyle, likes and dislikes. The 228- page book is edited and compiled by Yashwant Vyas. ‘Boskiyana’ is the name of the house of Gulzar in Mumbai.

About the Book: The book expresses the personality of Gulzar through detailed conversations and reveals his thoughts and vision of the world. It is a compilation of some of the most defining interviews and conversations of Gulzar from the last 30 years. Yashwant Vyas took 6 years to compile.

 

INTERNATIONAL UPDATES:

 

1. Aung San Sui Kyi Party claims to win Myanmar Elections: Myanmar’s ruling party led by Nobel laureate Aung San Suu Kyi claimed a resounding victory. National League for Democracy (NLD) party has won close to 400 seats while the opposition Union Solidarity and Development Party (USDP) has secured only 21 seats. Around 38 million voted to select the National League of Democracy (NLD) Party for a second term. NLD was required to win at least 2/3rd of the elected seats to win.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

2. Dr Harsh Vardhan attends 8th BRICS STI Ministerial Meet: The 8th BRICS Science, Technology and Innovation Ministerial Meeting was held through a virtual platform for Science and Technology cooperation among the member countries, which are Brazil, Russia, India, China and South Africa. The meeting was held under the Chairmanship of the Russian Federation. (Russia is the Chair for 12th BRICS Summit).

About the meeting: The Union Minister of Science and Technology, Dr Harsh Vardhan represented the Indian delegation at the meeting. The meeting concluded with the adoption of BRICS STI Declaration 2020. During the meeting, Dr Harsh Vardhan highlighted that “The COVID 19 pandemic has been a test, demonstrating that multilateral cooperation is the key to overcoming such global challenges”. He reiterated that “India will actively contribute in the implementation of BRICS STI Calendar of Activities 2020-21 and supports continuation scientific activities under BRICS MOU on Science, Technology and Innovation”.

 

3. RCEP: 15 Asia-Pacific countries form world’s largest trading bloc: 15 Asia Pacific countries have signed the world’s biggest free trade deal, led by China, on the sidelines of the 37th Association of Southeast Asian Nations (ASEAN) Summit. The deal called as ‘Regional Comprehensive Economic Partnership (RCEP)’, is the world’s largest trading bloc, comprising of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia and New Zealand. Members of the RCEP accounts for nearly a third of the world’s population and around 30% of global gross domestic product (GDP).

 

OTHER UPDATES:

 

SPORTS

 

1. Lewis Hamilton wins F1 Turkish Grand Prix 2020: Lewis Hamilton (Mercedes-Great Britain) has won the Turkish Grand Prix 2020 at Istanbul Park, Turkey. Sergio Perez (Racing Point-BWT- Mexico) secured the second position and Sebastian Vettel of Ferrari finished third. This was Hamilton 10th victory of the season and 94th F1 win of his career. With this win, he claimed the seventh Formula One championships title of his career to equal the record of Michael Schumacher.

 

BANKING AND FINANCE

 

1. SEBI introduces flexi cap category in mutual funds: The markets regulator, SEBI has introduced a ‘flexi-cap category’ for mutual funds (MFs), which will be required to invest at least 65% of the corpus in equity but will have no restrictions on investing in large-, mid- or small-cap company stocks.Unlike the new multi cap funds, there is no restriction in terms of allocation to any market cap. According to the new rule, multi cap funds will now have to invest at least 25% of their corpus in large-, mid- and small-cap stocks. Many fund houses raised concerns about the risk in investing 25% in mid and small cap stocks and had demanded the formation of a flexi cap category. The move comes after new guidelines theissued in September required asset managers to more evenly spread their ‘multi-cap’ fund schemes across small, mid and large-cap stocks, or else convert their multi-cap schemes into other scheme categories, by 31 January 2021.

 

2. German Bank KfW extends 545 million Euro funding to MMRDA infra projects: The German state-owned development bank KfW has extended two loans totalling over €545 million (Rs 4,767 crore) to the Mumbai Metropolitan Region Development Authority (MMRDA) for infrastructure projects in Mumbai. The funds will be disbursed through an agreement with India’s Ministry of Finance and will be utilised to support two key mass transit projects in Mumbai. These projects are Metro line 4 from Wadala in central Mumbai to Kasarvadavli in Thane, and Metro line 4A that extends to the connectivity from Kasarvadavli to Gaimukh in Thane. This is part of the Mumbai Metropolitan Region Development Authority’s plan to build a 337-km metro rail network. The credit package consists of a development loan of €345 million and a promotional loan of €200 million.

 

BUSINESS AND ECONOMY

 

1. TCS to acquire Deutsche’s Postbank Systems AG: Tata Consultancy Services (TCS) announced an agreement under which the company will acquire 100% of the shares of Postbank Systems AG (PBS), the technology services unit of Frankfurt-based Deutsche Bank AG. PBS has close to 1,500 employees and post the acquisition, they will become a part of TCS. Postbank Systems provides project management, application management and infrastructure support services to Deutsche Bank. The acquisition is expected to finalise by year end. The transaction is subject to customary regulatory and governmental approvals.

 

AWARDS AND HONOURS

 

1. Sadat Rahman wins International Children’s Peace Prize 2020: Sadat Rahman from Bangladesh has been awarded the prestigious International Children’s Peace Prize 2020. He was awarded the prize for his involvement in setting up his social organization and mobile app ‘Cyber Teens’ to stop cyberbullying. The award was presented to 17-year-old Sadat by Nobel Peace Prize laureate Malala Yousafzai, during a ceremony in the Netherlands. He was selected out of 142 applicants from 42 countries.

About International Children’s Peace Prize: The International Children’s Peace Prize is given annually since 2005 by the International children’s rights organization KidsRights based in Amsterdam, the Netherlands. The prestigious Prize is annually awarded to a child who has made a special effort to promote children’s rights and better the situation of vulnerable children.

 

DEFENCE

 

1. India Successfully test fires QRSAM system off Odisha Coast: India successfully test-fired the Quick Reaction Surface to Air Missile (QRSAM) system off the coast of Balasore in Odisha. The system achieved a major milestone by a direct hit on to a Banshee Pilotless target aircraft at medium range and medium altitude. Indian forces have carried out at least seven tests earlier of the missile system.

About QRSAM system: The QRSAM system has been developed by the Defence Research and Development Organisation (DRDO) in association with Bharat Electronics Limited and Bharat Dynamics Limited for the Indian Army. The system is capable of detecting and tracking targets on the move and engaging target with short halts. The system is designed to give air defence coverage against strike columns of the Indian Army.

 

OBITUARIES

 

1. Veteran Bengali Actor Soumitra Chatterjee​ passes away: The legendary Bengali actor and Dadasaheb Phalke award recipient Soumitra Chatterjee passed away. He became famously known after his collaborations with Oscar-winning film director Satyajit Ray, with whom he worked in fourteen films. He had won a number of awards in home and abroad. Soumitra Chatterjee was awarded the Padma Bhushan by the Government of India in 2004, Dadasaheb Phalke Award, India’s highest award for cinema, in 2012. In 1999 Soumitra Chattopadhyay became the first Indian film personality to be conferred with the Ordre des Arts et des Lettres, France’s highest award for artists.

Daily GK Updates – 16th Nov, 2020

 

NATIONAL UPDATES:

 

1. MP govt launches ‘Roadmap to Aatma Nirbhar Madhya Pradesh’: Madhya Pradesh Chief Minister, Shivraj Singh Chouhan has launched a roadmap to “Aatma Nirbhar Madhya Pradesh 2023” through a virtual event. Under the roadmap, a special focus will be on health and education in the state.

About Aatma Nirbhar Madhya Pradesh 2023: Four seminars were conducted on physical infrastructure, good governance, health and education to prepare the roadmap of the state. On the basis of the inputs received by the experts in the seminar, the roadmap of Aatma Nirbhar Madhya Pradesh has been prepared. Economy and employment will also be major focus areas and small and cottage industries will be motivated. A network of hospitals will be established in the state focusing on the health sector.

Along with launching the roadmap to Aatma Nirbhar Madhya Pradesh, the chief minister also transferred the interest-free loan of 10 thousand rupees each into the accounts of rural street vendors under the Mukhya Mantri rural Street Vendor Loan Scheme. The scheme was launched by the state government to provide a loan up to Rs 10,000 to street vendors in rural areas. Under the scheme, the state government will bear 14% interest subsidy per loan beneficiary (for loans up to Rs 10,000).

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

 

2. Haryana CM Launches ‘Project Air Care’ in Gurgaon: Haryana Chief Minister (CM), Manohar Lal Khattar has virtually unveiled ‘Project Air Care’ to combat rising Air Pollution in Gurgaon. 65 Wing Augmentation Air Purifying Units (WAYU) would be set up at areas with high Air Quality Indices (AQI) in Gurgaon to improve the air quality. The Air Purifiers have been developed by CSIR-NEERI (Council of Scientific & Industrial Research-National Environmental Engineering Research Institute), IIT (Indian Institute of Technology) Bombay. The project is a result of a public-private partnership between Gurugram Metropolitan Development Authority (GMDA) and GSK (GlaxoSmithKline) Consumer Healthcare.

Note: Haryana Capital: Chandigarh; Haryana Governor: Satyadev Narayan Arya; Haryana Chief Minister: Manohar Lal Khattar.

 

3. Karnataka’s Mysuru to Get India’s First Sandalwood Museum: India’s first Sandalwood Museum is being established in Aranya Bhavan in Ashokapuram, Mysuru, Karnataka. The museum is set up by the Regional Forest Department to educate farmers about the significance of cultivation of sandalwood. This will also provide technical support, information on the availability of saplings, marketing facilities, pest control measures, incentives and schemes provided for sandalwood growers by the government.

Note: Chief Minister of Karnataka: B.S. Yediyurappa; Governor: Vajubhai Vala.

 

4. Maharashtra Governor releases a book ‘Majhi Bhint’: Maharashtra Governor, Bhagat Singh Koshyari has released the book ‘Majhi Bhint’ (My Wall) authored by former Maharashtra Minister of Education Rajendra Darda at Raj Bhavan, Mumbai. The book is a compilation of selected Facebook posts of Rajendra Darda pertaining to a range of issues written over the last four years. Maharashtra’s Minister for Revenue Balasaheb Thorat, Minister of Public Works Ashok Chavan, Minister of Water Resources Jayant Patil, Chairman of Lokmat Media Group Vijay Darda, Rajendra Darda and invitees were present on the occasion.

 

5. Sonu Sood’s autobiography to be titled ‘I Am No Messiah’: An actor, producer and humanitarian, Sonu Sood is set to pen his autobiography titled “I Am No Messiah”. The book will be co-authored by Meena Iyer. The book will account the experience of Sonu Sood during the COVID-19 pandemic. The book is set to be published by Penguin Random House India and released in December 2020.

About the book: The book will feature the stories he heard and his interactions with the migrants and others. Sonu Sood will share the experiences which impacted his life and changed his outlook and his purpose of life. Sonu Sood narrates his emotional experiences and the challenges he faced along with the people he rescued during the COVID-19 pandemic.

 

6. National Press Day: 16th November: National Press Day is observed on 16th November every year to celebrate free and responsible press in India. On this day the Press Council of India started functioning as a moral watchdog to ensure that the press maintains high standards and is not constrained by any influence or threats. It also commemorates the day when the Press Council of India started functioning. In 1956, the First Press Commission was planned to form a Press Council to protect freedom of the press in India. On 4 July 1966, the Press Council was established in India. It came into effect from 16 November 1966. Therefore, 16 November is celebrated as National Press Day every year.

About Press Council of India: The Press Council of India was formed in 1966 under the Press Council Act of 1978. It exercises authority even over the instruments of the state in its duty to safeguard the independence of the press. It ensures that the Indian press is not affected by any external matter.

 

INTERNATIONAL UPDATES:

 

1. US President-elect Joe Biden announces 12 member task force to deal with COVID-19; Indian-origin former Surgeon General Vivek Murthy to co-chair group: US President-elect Joe Biden has formed a 12-member coronavirus task force to formulate a blueprint for containing the coronavirus disease that has infected millions and damaged the US economy. The task force will be headed by three co-chairs, which includes, former Surgeon General Vivek Murthy, former Food and Drug Administration Commissioner David Kessler and Marcella Nunez-Smith, a professor of public health at Yale University.

About Vivek Murthy: Vivek Murthy is an Indian-American physician, whose family hails from Karnataka. The 43-year old received his Bachelor’s degree from Havard University and pursued MD and MBA from Yale University. He served as the 19th US Surgeon General under Batack Obama’s administration from 2014-17.

Awards

 

2. Indian Astronomers collaborate with 2020 Nobel Physics Nobel Laureate: Indian astronomers have collaborated with the 2020 Physics Nobel Laureate Prof. Andrea Ghez for the design of back-end instruments and possible science prospects of the Thirty Meter Telescope (TMT) project. The Thirty Meter Telescope (TMT) is a proposed extremely large telescope (ELT) which is planned to be installed at Maunakea on the island of Hawaii.

About the Thirty Meter Telescope (TMT) project: The TMT project is an international partnership between CalTech, Universities of California, Canada, Japan, China, and India, to revolutionize the understanding of the universe and the enigmas in it. Some of the Indian astronomers like Dr Annapurni Subramanium, Director of the Indian Institute of Astrophysics (IIA) and Dr Shashi Bhushan Pandey, a scientist at Aryabhatta Research Institute of Observational Sciences (ARIES) along with many others collaborated with Prof. Ghez in the ongoing research and developmental activities of the TMT project. The Thirty Meter Telescope, which seeks to advance scientific knowledge while fostering connection among the partner countries and their citizens, and in which Indian astronomers worked closely with Prof. Andrez Ghez, is expected to provide facilities with even greater capabilities to gather the observations needed to answer new and emerging questions in astronomy and physics in general.

 

3. Nepal President releases Special Anthology on Mahatma Gandhi: Nepal President, Bidya Devi Bhandari has released a special pictorial anthology on Mahatma Gandhi to mark the 151st birth anniversary of Mahatma Gandhi. This anthology is written in the Nepali language. The book was launched at a special function held at in Kathmandu in the presence of Indian Ambassador to Nepal, Vinay Mohan Kwatra.

About the Pictorial Anthology on Mahatma Gandhi: This anthology on Gandhi is titled as “Maile Bujheko Gandhi” or “the Gandhi as I understood”. The book has been released to mark the birth anniversary of Mahatma Gandhi and the culmination of the 2 year-long celebrations of ‘150 years of Mahatma’. This anthology has been published by the Indian Embassy together with the BP Koirala India-Nepal Foundation. The publishers hope that the teachings, ideas of Mahatma Gandhi will bring Nepalese youth closer to the global icon. The book aims to bring to the youth of Nepal closer to Mahatma Gandhi. The book also brings together the perspectives of 25 eminent Nepali personalities about Mahatma Gandhi.

Note: Prime minister of Nepal: KP Sharma Oli; President: Bidhya Devi Bhandari; Capital of Nepal: Kathmandu; Currency: Nepalese rupee.

 

4. International Day for Tolerance: 16th November: The United Nations observes “International Day for Tolerance” on 16th November every year. The United Nations is committed to strengthening tolerance by fostering mutual understanding among cultures and peoples.

In 1994, UNESCO marked the 125th anniversary of Mahatma Gandhi’s birth paving the way for the proclamation of 16 November as the International Day for Tolerance by the UN. This day pays tribute to the values of the Mahatma of peace, non-violence and equality. The UNESCO-Madanjeet Singh Prize for the Promotion of Tolerance and Non-Violence rewards significant activities in the scientific, artistic, cultural or communication fields aimed at the promotion of a spirit of tolerance and non-violence. The prize is awarded every two years on the International Day for Tolerance, 16 November.

 

OTHER UPDATES:

 

BUSINESS AND ECONOMY

 

1. Paytm launches “Payout Links” for small businesses: Paytm has launched “Payout Links” for businesses, enabling them to instantly process payouts to customers, employees and vendors, without collecting their bank details. It is aimed at helping small businesses in sectors like gaming, retail, export, manufacturing and e-commerce.

About Payout Links: Payout Links will allow businesses to send ‘incentives’ or refunds to the customers’ bank accounts or wallet accounts. It can be used for salary payments, vendor payments, commissions and incentive transfers to be done instantly. Paytm Payout Links can be easily created and shared with customers, vendors and employees in one go. The receiver needs to simply open the link and is automatically provided with a list of saved accounts such as Paytm Wallet, Paytm UPI and connected bank accounts, which can be chosen to receive money instantly. This service helps businesses reduce cash transactions, maintain better records, avoid errors and delays. Paytm Payout Links is extremely user friendly, intuitive and is easy to integrate with the present operations of a company.

Note: Paytm founder: Vijay Shekhar Sharma; Paytm Headquarters: Noida, Uttar Pradesh; Paytm founded: 2010.

 

2. Moody’s projects India GDP for 2020 at -8.9%: Rating Agency Moody’s has projected the GDP of India at -8.9% for the calendar year 2020. Earlier this was projected at -9.6%. Apart from this, India’s GDP growth for Calendar year 2021 is projected at 8.6% by Moody’s from 8.1% earlier.

Note: Headquarters of Moody’s: NewYork, United States; President & CEO of Moody’s: Raymond W. McDaniel, Jr.

 

DEFENCE

 

1. Indian Navy launches 5th Scorpene Submarine “Vagir”: The Indian Navy has launched the fifth Scorpene submarine “Vagir” at Mazagon Dock of south Mumbai. The submarine is capable of taking missions such as anti-submarine warfare, anti-surface warfare, mine laying, intelligence gathering and area surveillance.

About Vagir: Vagir is a part of six Kalvari class submarine that is being built in India. These submarines were designed by the French Navy and an energy company DCNS. The six submarines were built under Project-75 of Indian Navy. Vagir has been named after Sand Fish. It is a deep-sea predator in the Indian Ocean. The first Vagir was commissioned in 1973. The first Vagir submarine was from Russia.

Note: Chief of Naval Staff: Admiral Karambir Singh.

 

OBITUARIES

 

1. Bollywood actor Asif Basra passes away: Bollywood actor Asif Basra, who was known for his role in the recent thriller series Paatal Lok, has passed away. Apart from this, Basra had appeared in a number of Bollywood films, including a movie on the 1993 Mumbai blasts Black Friday, the 2002 Gujarat riots Parzania and Kai Po Che. He had also starred in several plays in India and abroad, performing in English, Hindi and Urdu theatre productions.

 

2. Former CM of Sikkim Sanchaman Limboo passes away: Former Sikkim chief minister Sanchaman Limboo passed away. He was 73. He was the fourth Chief Minister of Sikkim from 17 June 1994 – 12 December 1994 from Sikkim Sangram Parishad Party. He became the CM for nearly six months after toppling down the Late Nar Bahadur Bhandari’s Government of Sikkim Sangram Parishad while he was in the cabinet minister in the same government in the year 1994.

Daily GK Updates – 15th Nov, 2020

 

NATIONAL UPDATES:

 

1. Finance Minister announces ‘Aatmanirbhar’ Package 3.0: The Finance Minister of India, Smt Nirmala Sitaraman has announced the ‘Aatmanirbhar’ Package 3.0. Addressing a press conference to announce more stimulus measures to boost growth. According to Finance Minister Nirmala Sitaraman, PMI rose to 58.9 in October 2020 indicating strong recovery of the economy from COVID-19 crisis. The energy consumption growth was higher in October 2020. This is yet another stimulus package ahead of Diwali. The Union Cabinet approved a Rs 2 lakh crore production-linked incentive (PLI) package to boost demand in the country.

1. Atmanirbhar Bharat Rozgar Yojana: A new Scheme “Atmanirbhar Bharat Rozgar Yojana” is being launched to incentivise the creation of new employment opportunities during the COVID recovery phase. Beneficiaries (new employees) under Scheme: Any new employee joining employment in EPFO registered establishments on monthly wages less than Rs.15000/-. EPF members drawing monthly wage of less than Rs.15000/- who made exit from employment during COVID Pandemic from 01.03.2020 to 30.09.2020 and is employed on or after 01.10.2020

Scheme to be operational till 30th June 2021: Central Govt. to provide subsidy for two years in respect of newly eligible employees engaged on or after 01.10.2020 at the following scale: (a) Establishments employing up to 1000 employees: Employee’s contributions (12% of Wages); (b) Employer’s contributions (12% of wages) totalling 24% of wages; (c) Establishments employing more than 1000 employees: Only Employee’s EPF contributions (12% of EPF wages)

 

2. Rs. 3 lakh crore existing Emergency Credit Line Guarantee Scheme (ECLGS 1.0): Announced as part of the Aatmanirbhar Bharat Abhiyaan. The scheme is extended till 31st March 2021. Fully guaranteed and collateral-free. Additional credit up to 20% of outstanding loans as on 29.2.2020 for entities with outstanding credit up to Rs. 50 crore as on 29.2.2020 and annual turnover up to Rs. 250 crore, which was up to 60 days past due as on 29.2.2020. Eligible entities – MSME units, business enterprises, individual loans for business purposes and MUDRA borrowers.

Guaranteed credit for supporting stressed sectors: To be utilized for 100% guaranteed collateral-free additional credit at capped interest rates to: (i) Entities in 26 stressed sectors identified by Kamath Committee plus health care sector; (ii) with credit outstanding of above Rs. 50 crore and up to ₹500 Crore as on 29.2.2020; (iii) Entities with outstanding up to Rs. 50 crore previously covered under existing Scheme; (iv) Entities to be up to 30 days past due (SMA 0) as on 29.2.2020; (v) Additional credit up to 20% of outstanding as on 29.02.2020

 

3. Rs 1.46 lakh crore boost for Atmanirbhar Manufacturing Production-linked incentives for 10 Champion Sectors: Government of India has already approved PLI schemes for 3 sectors at a cost of Rs 51,355 crores as below:

(a) Mobile Manufacturing and specified electronics components at a cost of Rs 40,995 crore.

(b) Critical Key Starting Materials (KSM), Drug intermediates and Active Pharmaceuticals Ingredients (API) at a cost of Rs. 6,940 crore.

(c) Manufacturing of Medical Devices at a cost of Rs Rs. 3,420 crore.

(d) 10 more Champion Sectors (next slide) will now be covered under the Production Linked Incentives Scheme to boost the competitiveness of domestic manufacturing.

(e) This is expected to give a significant boost to Economic Growth and domestic employment.

 

4. Rs 18,000 crores additional outlay for PM Awaas Yojana (PMAY) –Urban: A number of measures have been taken in the past several months for the revival of the Housing and Real Estate Sector. These measures have contributed to the fair recovery in this sector. (SWAMIH- 135 projects approved with an outlay of Rs. 13,200 cr. This will result in the completion of 87,000 stuck houses/Flats)

Rs 18,000 crores will be provided over the Budget Estimates for 2020-21 for Prime Minister Awaas Yojana – Urban (PMAY-U) through additional allocation and Extra Budgetary Resources.  This is over and above Rs 8,000 crores already this year. This will help 12 lakh houses to be grounded and 18 lakhs to be completed. Expected add jobs – 78 lakhs, Steel – 25 LMT, Cement – 131 LMT

 

5. Support for Construction & Infrastructure – Relaxation of Earnest Money Deposit (EMD) & Performance Security on Government Tenders: Performance security on contracts to be reduced to 3 % instead of 5 to 10%. Will be extended to ongoing contracts which are free of disputes. Will also be extended to Public Sector Enterprises.  States will be encouraged to adopt the same. EMD will not be required for tenders and will be replaced by Bid Security Declaration. Relaxations will be given till 31.12.2021 under General Financial Rules. Will give relief to contractors by reducing locking up of capital and cost of BG 16.

 

6. Demand booster for Residential Real Estate Income Tax relief for Developers & Home Buyers: Economic slowdown has led to decline in prices of residential unit; Presently Section 43CA of IT Act restricts differential between circle rate & agreement value @ 10% – Prices may actually be lower than this. Decided to increase the differential from 10% to 20% (under section 43CA) for the period from the date of the announcement to 30th June 2021 for only primary sale of residential units of value up to Rs 2 crores. Consequential Relief up to 20% shall also be allowed to buyers of the these units under section 56(2)(x) of IT Act for the said period. The necessary amendment to IT Act would be proposed in due course. This measure will reduce hardships faced by both home-buyers and developers and help in clearing the unsold inventory.

 

7. Rs 1.10 lakh crore Platform for Infra Debt Financing – Rs 6000 crores Equity infusion in NIIF Debt Platform: Actual investments made by 3 NIIF funds in downstream funds, platforms and operating companies is Rs 19,676 cr. NIIF Strategic Opportunities Fund has set up a Debt Platform comprising an NBFC Infra Debt Fund and an NBFC Infra Finance Company. The Platform has a Loan book – Rs 8000 cr & deal pipeline of Rs. 10,000 cr. NIIF AIFL (AA rating) and IFL (AAA rating) will raise INR 95,000 crores debt from market, including project bonds. By 2025, will provide infra project financing of ~INR 110,000 crores. NIIF has already invested nearly Rs 2000 cr. in equity of the Platform. Government will invest Rs 6000 cr as equity. Rest of equity will be raised from private investors.

 

8. Support for Agriculture Rs 65,000 crores for subsidised Fertilisers: There is an estimated increase in fertiliser usage of 17.8% over the actual usage in 2019-20 of 571 lakh metric tonnes. The increase is on account of favourable monsoons and the resultant increase in sown area. Fertiliser consumption which was 499 lakh MT in 2016-17 is expected to increase to 673 lakh MT in 2020-21. Increased supply of fertilisers at subsidised rates will help 140 million farmers. Rs 65,000 crores being provided to ensure adequate availability of fertilisers to farmers to enable timely availability of fertilisers in the upcoming crop season.

 

9. Boost for Rural Employment – Enhanced outlays under PM Garib Kalyan Rozgar Yojana: Prime Minister Garib Kalyan Rozgar Yojana is also in progress in 116 districts. Rs 37,543 crores spent till date. PMGKRY effectively dovetails various schemes including MGNREGA, PMGSY etc. MGNREGA was provided with Rs 61,500 crore in Budget for 2020-21. Rs.40,000 crore was additionally provided in Atma Nirbhar Bharat 1.0. As on date, Rs 73,504 crore has been released under MGNREGA and 251 crore person-days of employment have been generated. Further additional outlay of Rs. 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year.

 

10. Boost for Project Exports – Rs 3000 crore to EXIM bank for Lines of Credit: Exim Bank extends Lines of Credit (LOC) on behalf of the Government of India, as assistance to developing countries under IDEAS scheme. Promotes Indian export by mandating recipient countries to import 75% value of the LOC. Supported projects cover Railways, power, transmission, road and transport, auto and auto components, sugar projects etc. As on date, 811 export contracts, aggregating USD 10.50 bn are being financed under LoCs. Rs. 3,000 crore will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS scheme.

 

2. CM Naveen Patnaik launched a mobile app “Secha Samadhan”: Chief Minister Naveen Patnaik has launched ‘Secha Samadhan’, a bilingual mobile application, to address the irrigation problems faced by farmers without them having to visit the offices concerned. With the launching of the application, farmers need not run to the offices of the Water Resources department and can send their grievances through photographs or videos. The farmers will be informed about the status of their complaints through SMS. Besides, immediate steps will be taken to redress the grievances of the farmers. He also launched four other online services to resolve the issue of water distribution for industries, commercial establishments and other institutions.

Note: Chief Minister of Odisha: Naveen Patnaik; Odisha Capital: Bhubaneswar; Odisha Governor: Ganeshi Lal.

 

INTERNATIONAL UPDATES:

 

1. 2nd World Health Expo kicks off in Wuhan: The second World Health Expo was inaugurated on November 11, in Wuhan, the capital city of Central China’s Hubei Province. This year’s Expo will focus on displaying the most cutting-edge science and technology in the global health industry, and help Wuhan build “city of global health industry”. During the Expo, more than a hundred high-end forums including a summit forum, academician forum and the roundtable dialogue on epidemic prevention and normalized control, and the Global University Leaders Forum, will be organized.

Note: China Capital: Beijing; China Currency: Renminbi; China President: Xi Jinping.

 

2. Kash Patel named Chief of Staff to acting US Defence Secretary: Indian-American Kash Patel has been named as the Chief of Staff to the Acting US Defence Secretary Chris Miller. The new appointment comes a day after Donald Trump fired Defence Secretary Mark Esper and designated Chris Miller, as the Acting Secretary. Kash Patel is currently on the National Security Council staff. He replaces Jen Stewart, who resigned earlier in the day.

Kashyap Pramod Patel, popularly known as Kash Patel, had previously served as senior counsel for counter-terrorism at the House Permanent Select Committee. In June 2019, Patel, 39, was appointed as senior director of Counter-terrorism Directorate of the National Security Council (NSC) in the White House.

 

OTHER UPDATES:

 

SPORTS

 

1. China’s Chen Meng claims ITTF Women’s World Cup title: The world number one Chen Meng beat Chinese compatriot Sun Yingsha to win her maiden International Table Tennis Federation (ITTF) Women’s World Cup table tennis title in held in Weihai, China. The 2020 ITTF Women’s World Cup was the 24th edition of the ITTF-sanctioned event.

Note: President of ITTF: Thomas Weikert; Headquarters of ITTF: Lausanne, Switzerland; ITTF founded: 1926.

 

BANKING AND FINANCE

 

1. HDFC Bank launches SmartHub Merchant Solutions 3.0 for SMEs: HDFC Bank has announced the launch of “SmartHub Merchant Solutions 3.0” for Small and mid-size enterprises. This solution allows merchants and self-employed professionals to instantly open a current account and start accepting payments in-store, online, and on-the-go. The Bank plans to reach out to more than 20 million small and medium merchants and professional services like doctors, pharmacies, salons and laundry services across the metro, semi-urban and rural India in the next three years. The merchant solution was launched at a virtual event held in Mumbai by Parag Rao, Country Head – Payments, Consumer Finance, Marketing and Digital Banking at HDFC Bank along with T R Ramachandran, Group Country Manager, India and South Asia, Visa.

About SmartHub 3.0: SmartHub 3.0 will be available in app-based, web-based and a range of PoS devices and will have features like digitizing Khata, enabling collection reminders, inventory management, billing software and lending to merchants’ basis their banking.

Key features: Instant account opening and merchant setup; Payment collection through any mode – Bharat QR code, Aadhaar Pay, UPI, SMS Pay, Credit or Debit Cards, or any app such as Payzapp, Google Pay; Customise interface in nine languages; Share product catalogue with customers via SMS, email or Whatsapp; View and apply for loan and credit card offers; Single dashboard view of payments and dues across locations; Merchants can also create their own customer loyalty program on this solution. They can run their own ‘discounts and offers’ for their customers.

Note: CEO & MD of the HDFC Bank: Sashidhar Jagdishan; The tagline of HDFC Bank: We Understand Your World; HDFC Bank Headquarters: Mumbai, Maharashtra.

 

AWARDS AND HONOURS

 

1. M. Venkaiah Naidu presents 2nd National Water Awards: The Vice President of India, M Venkaiah Naidu has presented the National Water Awards (NWAs) for 2019. This is the second edition of the award. Among the states category, Tamil Nadu bagged the Best State Award, followed by Maharashtra and Rajasthan.

About National Water Awards: The award ceremony has been organised by the Ministry of Jal Shakti, Department of Water Resources, River Development and Ganga Rejuvenation are from 11 & 12 November 2020 through the virtual platform. The NWA awards are given to motivate the individuals/organizations to adopt the best usage practices in the field of water resources conservation and management and create awareness among the people about the importance of water.

Note: Minister of Jal Shakti: Gajendra Singh Shekhawat.

 

OBITUARIES

 

1. Bahrain’s long-serving PM Khalifa bin Salman Al Khalifa passes away: Bahrain’s Prime Minister Khalifa bin Salman al-Khalifa has passed away. He was 84. He was not only the longest-serving PM of Bahrain, but he was the world’s longest-serving prime minister. He had held the post since independence in 1971. He played a key role in Bahrain’s political and economic affairs for more than three decades after setting the stage for a referendum that put paid to the Shah of Iran’s claims to the tiny Gulf archipelago.

Note: King of Bahrain: Hamad bin Isa Al Khalifa; Capital of Bahrain: Manama; Currency of Bahrain: Bahraini Dinar.