Daily GK Updates – 22nd Nov, 2020

 

NATIONAL UPDATES:

 

1. North Police Station in Kohima receives ISO certification: The North Police Station in Kohima was awarded ISO 9001:2015 certification for Quality Management System. It is the first government agency of the state that has received such recognition. The ISO certificate helps to ensure that the police personnel routinely evaluates its working and implement remedial measures, as and when required. The entire process of certification was completed within 30 days and was initiated by the Kohima Police. The process involves an online application, documentation, upgrading the existing facilities, online auditing and other elements. Kohima police informed that their sole motive was to improve the quality of public service and to create a more visitor-friendly environment. To meet the specified parameters, the police station streamlined the process of character/passport verification and the system of filing and record keeping. It further upgraded the infrastructure of the police station and disposal of various complaints have been made time-bound.

About Police Station: The North Police Station, Kohima, was established in 1993, as the first police station under the Naga Hills district by the British regime. The police station is situated in the heart of the state capital and is headed by an inspector rank officer-in-charge and 88 other ranks.

About ISO certification: ISO 9001 is the international standard that specifies requirements for a Quality Management System (QMS). It is the most popular standard in the ISO 9000 series and the only standard in the series to which organisations can certify.

 

2. Mastercard & USAID Partners to launch “Project Kirana”: Mastercard and the United States Agency for International Development (USAID) have collaborated under Women’s Global Development and Prosperity Initiative (W-GDP) to launch ‘Project Kirana’ in India, to help women entrepreneurs grow and thrive. Project Kirana is a two-year programme, and initially, it will be rolled out in select cities of Uttar Pradesh, including Lucknow, Kanpur and Varanasi. The programme will be implemented by DAI Digital Frontiers and ACCESS Development Services.

Objective: Build financial and digital literacy skills; improve basic business management skills including inventory management, accounting, budget management and customer loyalty; addressing cultural and other barriers to women becoming successful kirana entrepreneurs; It will work to increase revenue streams, expand financial inclusion and digital payments adoption of kirana shops that are owned or operated by women.

Note: Mastercard Headquarters: New York, United States; Mastercard President: Michael Miebach; Mastercard Chief Executive Officer(CEO): Ajay Banga(Michael Miebach will take over as CEO by January 2021).

 

3. Rajnath Sing &, Prakash Javadekar Launches Two Books on President Kovind’s Select Speeches: Defence Minister Shri Rajnath Singh has unveiled two books titled ‘The Republican Ethic Volume III’ and ‘Loktantra Ke Swar’. These books are collection of selected speeches of President Ram Nath Kovind during the third year of his presidency. Additionally, Information and Broadcasting Prakash Javadekar has unveiled the e-book versions of the two books. These books are the comprehensive picture of his work, personality and values and comprises speeches on the country’s efforts to fight COVID19, bravely defending its borders, his concern towards issues such as girls education, empowerment of women, and welfare of the weaker sections  among other important aspects.

 

4. Puducherry launches free breakfast scheme for students named after M Karunanidhi: The Puducherry government has rolled out a free breakfast scheme for school students named after the late DMK President M Karunanidhi, for government and government aided school students at Jeevanandham Government Higher Secondary School. The scheme was an apt tribute to Karunanidhi who championed the cause of downtrodden and poor people and was keenly interested in the development and welfare of people of Puducherry while taking efforts to ensure the rights of states

 

5. Actor Sonu Sood appointed as state icon of Punjab by Election Commission of India: Acyor Sonu Sood has been appointed as state icon of Punjab by the Election Commission of India (ECI).  The decision of honouring Sonu Sood with the title comes after he earned laurels for his humanitarian work during the lockdown. Sonu has been helping migrant workers reach their hometowns amid the coronavirus pandemic. He also helped people by giving them face masks, food, mobile phones and more.

 

INTERNATIONAL UPDATES:

 

1. PM Modi & Bhutanese PM Jointly launch RuPay Card Phase-II: Prime Minister of India Narendra Modi and Bhutan Prime Minister Lotay Tshering virtually launched RuPay card Phase-II, to allow Bhutanese cardholders to access RuPay network in India. In August 2019, PM Modi and his Bhutanese counterpart jointly launched Phase-I of the project. The implementation of Phase-I of RuPay cards in Bhutan has enabled the visitors from India to access ATMs and Point of Sale (PoS) terminals across Bhutan. Phase-II will now allow Bhutanese cardholders to access RuPay network in India.

Note: Bhutan Capital: Thimphu; Bhutan Currency: Bhutanese ngultrum.

 

2. First India-Luxembourg Virtual Summit: The Prime Minister of India, Shri Narendra Modi, and the Prime Minister of the Grand Duchy of Luxembourg, Mr. Xavier Bettel, held the first-ever India-Luxembourg Virtual Summit on 19 November 2020. Both countries have friendly relation of over more than seven decades since the establishment of diplomatic relations in 1948. During the Summit, both parties agreed for enhanced cooperation in areas of trade, finance, steel, space, ICT, innovation, manufacturing, automotive, sustainable development, including through renewable energy, and the fight against climate change. Three MoUs were signed as a part of the Summit.

 

3. Women’s Entrepreneurship Day: 19th November: Women’s Entrepreneurship Day, marked annually on November 19, aims to highlight businesses helmed and run by women across the world. The day highlights the works of women entrepreneurs and inspires them for the better. The inaugural event was held in New York City at the United Nations, with additional events being held simultaneously in several other countries. 144 nations overall recognized the first WED in 2014, which included the presentation of the Women's Entrepreneurship Day Pioneer Awards.

 

4. International Men’s Day: 19th November: 19 marks International Men’s Day all around the world. The objective of this day is to focus on men’s and boys’ health, improving gender relations, and promoting gender equality. This year, International Men’s Day theme is “Better health for men and boys” intending to make practical improvements to the health and wellbeing of the male population.

 

5. Africa Industrialization Day: 20th November: Africa Industrialization Day is celebrated on November 20 each year. Africa Industrialization Day Theme for 2020: “Inclusive and sustainable industrialisation in the AfCFTA era”. Africa Industrialization Day was established in 1990 and is the day when a large number of African governments and organisations gather to examine various different ways to stimulate the industrialisation process in Africa. This special day attracts a large amount of attention from around the world and special seminars, meetings and other types of events are held throughout Africa.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. GoI & NDB sign MoU for USD 500 Million for Public Transport System in NCR: The Government of India and the New Development Bank (NDB) have signed a loan agreement for lending USD 500 million for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’. This Regional Rapid Transit System provide fast, reliable, safe and comfortable public transport system in the National Capital Region (NCR).

About the Transit System Project: The fast transit system will support in achieving the goal of sustainable urban development in the NCR region including the National Capital Territory of Delhi. The environment friendly and very low emission RRTS will carry many times more people at high speed (average speed 100 kmph) while occupying just 3 m space on land thus reducing congestion on the roads. Seamless high-speed connectivity will result in balanced economic development across the Region leading to economic benefits to all strata of society and many nodes of development rather than all economic activity happening at one place.

About the funding: NDB funding will be provided to finance rolling stock for modern design, energy-efficient operations and interoperability across corridors. NDB funds will also be utilized for procuring signalling, telecommunication and train control system with advanced features such as automatic train operation, automatic train protection, automatic train supervision and integration with platform screen doors. The Project can serve as a demonstration for developing high capacity rapid urban transit corridors in other urban areas of India.” The total project cost is estimated at USD 3,749 million, which will be financed by the NDB (USD 500 million), Asian Infrastructure Investment Bank (USD 500 million), Asian Development Bank (USD 1,049 million), Japan Fund for Poverty Reduction (USD 3 million), and Government and Other sources (USD 1,707 million). The USD 500 million loans from the NDB has a tenor of 25 years withan8-year grace period.

Note: New Development Bank Headquarters location: Shanghai, China; President of the New Development Bank: Marcos Troyjo.

 

2. HDFC Mutual Fund appoints Navneet Munot as MD and CEO: Navneet Munot has been appointed as managing director and chief executive officer of HDFC Asset Management Co. Ltd. Munot, who was earlier chief investment officer (CIO) at SBI Mutual Fund, will be succeeding Milind Barve, who has been MD and CEO of HDFC AMC since inception in 2000.

 

BUSINESS AND ECONOMY

 

1. Oxford Economics revises downwards its India growth forecast: Forecasting firm Oxford Economics predicts that India’s post-COVID-19 scars could be among the worst in the world. It expects India’s growth equilibrium to worsen substantially over the medium term, with potential growth averaging just 4.5% over 2020-2025, from its pre-pandemic projection of 6.5%. The fiscal deficit is also expected to widen 7% of GDP in 2020-21.

 

2. GDP to contract 8.6% in Q2: RBI: The GDP is likely to contract by 8.6 per cent for the July-September period, which means India will enter into a recession for the first time in history in the first half of this fiscal with two successive quarters of negative growth due to the COVID-19 pandemic, as per an RBI official. The RBI has estimated that the economy will contract by 9.5 per cent for the full fiscal year. Researchers have used the ‘nowcasting’ method to arrive at the estimates ahead of the official release of data and their views in an article in RBI’s monthly bulletin. ‘India has entered a technical recession in the first half of 2020-21 for the first time in its history with Q2 2020-21 likely to record the second successive quarter of GDP contraction,’ as per the article titled ‘Economic Activity Index’, authored by Pankaj Kumar of the Monetary Policy Department.

 

AWARDS AND HONOURS

 

1. Scottish Author Douglas Stuart wins 2020 Booker Prize: Scottish writer Douglas Stuart has won the 2020 Booker Prize for Fiction. He has been awarded for his debut novel, “Shuggie Bain”. The 44-year-old Stuart is only the second Scot to have won the prestigious literary prize.

About Booker Prize for Fiction: The Booker Prize for Fiction, (formerly known as the Booker–McConnell Prize (1969–2001) and the Man Booker Prize (2002–2019)), is a literary prize awarded each year for the best original novel written in the English language and published in the United Kingdom. It carries £50,000 prize ($66,000).

 

DEFENCE

 

1. 30th India-Thai Coordinated Patrol (CORPAT): The 30th edition of India-Thailand Coordinated Patrol (Indo-Thai CORPAT) was held between the Indian Navy and the Royal Thai Navy. The Indian Naval Ship (INS) Karmuk, an indigenously built Missile Corvette and Thailand Ship (HTMS) Kraburi, a Chao Phraya Class Frigate along with Dornier Maritime Patrol Aircraft from both the navies participated in the CORPAT. The two navies have been carrying out CORPAT along their International Maritime Boundary Line twice a year since 2005 to enhance bilateral ties and maritime cooperation.

Note: Prime Minister of Thailand: Prayut Chan-o-cha; Thailand Capital: Bangkok; Thailand Currency: Thai baht.

 

OBITUARIES

 

1. Former Himachal Pradesh Speaker Tulsi Ram passes away: Former Himachal Pradesh Vidhan Sabha Speaker Tulsi Ram, 76, passed away at a Kangra hospital in Kangra, after a brief illness. Ram, was first elected to the state assembly in 1990 and was re-elected in 1998 and 2007. Ram, who represented tribal Bharmour constituency thrice, was elected Speaker on January 11, 2008. The party denied him the ticket in the 2012 assembly elections and replaced him with Jia Lal. He left the BJP in 2015.

Daily GK Updates – 21st Nov, 2020

 

NATIONAL UPDATES:

 

1. Madhya Pradesh govt announces ‘Gau Cabinet’ for protection of cows: The Madhya Pradesh government, led by Chief Minister Shivraj Singh Chouhan, has decided to set up a ‘Gau Cabinet’ for the protection, conservation and promotion of cows in the state. The Cabinet will comprise of the departments of animal husbandry, forests, panchayat and rural development, revenue, home and farmers welfare. The first meeting of the Cabinet will be held at 12 pm on ‘Gopashtami’ on November 22 at the Cow Sanctuary in Agar-Malwa district named ‘Kamdhenu Gau Abhyaranya ‘. It is India’s first cow sanctuary which was set up by the Bharatiya Janata Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Anandiben Patel.

 

2. India’s Param Siddhi ranked 63rd in most powerful supercomputers: According to the Department of Science and Technology (DST), Indian supercomputer, Param Siddhi has achieved 63rd rank in the list of 500 most powerful supercomputers in the world. Param Siddhi is the high-performance computing-artificial intelligence (HPC-AI) supercomputer established under National Supercomputing Mission (NSM) at C-DAC. The Top 500 project which ranks the top 500 non-distributed computer systems in the world is published twice a year. The first of these updates always coincides with the International Supercomputing Conference in June, and the second is presented at the ACM/IEEE Supercomputing Conference in November.

About Param Siddhi AI system: The AI system will strengthen application development of packages in areas such as advanced materials, computational chemistry & astrophysics, and several packages being developed under the mission on the platform for drug design and preventive health care system, flood forecasting package for flood-prone metro cities like Mumbai, Delhi, Chennai, Patna and Guwahati. The supercomputer will also help in acceleration of research and development in the fight against COVID19 through faster simulations, medical imaging, genome sequencing and forecasting and is a boon for Indian masses and for start-ups and MSMEs in particular. The supercomputer with Rpeak of 5.267 Petaflops and 4.6 PetaflopsRmax (Sustained) was conceived by C-DAC and developed jointly with the support of the Department of Science and Technology (DST), Ministry of Electronics and Information Technology (MeitY) under NSM.

 

3. Dr Harsh Vardhan addresses 33rd Stop TB Partnership Board meet virtually: The Union Health Minister Dr Harsh Vardhan addressed the 33rd Stop TB Partnership Board meet in New Delhi  through Video Conference on 18 November 2020. During the meet, the minister has stressed on the need to create a mass movement for elimination of TB with strategized advocacy, thought leadership, disruptive social entrepreneurship, powerful, societal and political commitment. It must be noted that, India is running the “TB Harega, Desh Jeetega” campaign that targets to achieve the Sustainable Development Goal target related to TB by 2025, five years ahead of the global target of 2030.

 

4. Union Minister Narendra Singh inaugurates capacity building component of the PM-FME Scheme: Union Minister for Food Processing Industries Shri Narendra Singh Tomar virtually inaugurated the capacity building component of the Pradhan Mantri Formalisation of Micro food processing Enterprises scheme (PM-FME Scheme) on 18 November 2020. He also launched the GIS One District One Product (ODOP) digital map of India. Under the capacity building component of the PM-FME scheme, training would be given to the master trainers  through online mode, classroom lecture and demonstration, and self-paced online learning material. The master trainers will then train the district-level trainers, who will eventually train the beneficiaries. PM-FME Scheme has been launched with an outlay of Rs 10,000 crore for a period of five years from 2020-21 to 2024-25

 

5. National Newborn Week: 15th to 21st November: In India, the National Newborn Week 2020 is observed every year from 15 to 21 November. Union Minister of Health and Family Welfare, Dr Harsh Vardhan has chaired an event to mark the National Newborn Week 2020. The main purpose of the week is to reinforce the importance of newborn health as a key priority area of the health sector and reduce the infant mortality rate by improving healthcare conditions for babies in the neonatal period. The theme of National Newborn Week 2020 is ‘Quality, Equity, Dignity for every newborn at every health facility and everywhere’. In 2014, India became the first country to launch the India Newborn Action Plan (INAP), in alignment with the Global Every Newborn Action Plan towards eliminating preventable deaths of new-borns and stillbirths.

 

INTERNATIONAL UPDATES:

 

1. Japan & Australia signs defence deal to counter China: Japan and Australia have signed a ‘landmark’ defence pact in a bid to counter China’s growing influence in the South China Sea and over the Pacific island nations. The deal called Reciprocal Access Agreement (RAA) was signed between Japanese Prime Minister Yoshihide Suga and his Australian counterpart Scott Morrison. RAA will allow Japanese and Australian troops to visit each other’s countries and conduct training and joint operations. The treaty will strengthen its security ties and facilitate cooperation between defence forces.

Note: Japan Capital: Tokyo; Japan Currency: Japanese yen; Japan Prime minister: Yoshihide Suga.

Prime Minister of Australia: Scott Morrison; The currency of Australia: Australian dollar; Capital of Australia: Canberra.

 

2. World Children’s Day: 20th November: The Universal/World Children’s Day is celebrated on 20 November annually to promote international togetherness, awareness among children worldwide, and improving children’s welfare. The day also marks the anniversary of adoption of Declaration and Convention of the Rights of the Child. In 1959, UN General Assembly adopted the Declaration of the Rights of the Child. In 1989 UN General Assembly adopted the Convention on the Rights of the Child. 2020 marks the 31st anniversary of the Convention on the Rights of the Child.

 

3. World Fisheries Day: 21st November: World Fisheries Day is celebrated on 21 November every year throughout the world by the fisherfolk communities. It highlights the importance of healthy oceans ecosystems and to ensure sustainable stocks of fisheries in the world. 2020 is the fourth World Fisheries Day. The World Fisheries Day helps in highlighting the critical importance to human lives, of water and the lives it sustains, both in and out of water. Water forms a continuum, whether contained in rivers, lakes, and ocean. Fishing communities worldwide celebrate this day through rallies, workshops, public meetings, cultural programs, dramas, exhibition, music show, and demonstrations to highlight the importance of maintaining the world’s fisheries.

 

4. World Television Day: 21st November: World Television Day is observed on 21 November every year. The day is observed to acknowledge the role of broadcast media. On this day, the journalists, writers, bloggers, and others who are associated with the medium promote the role of television in communication and globalization. The 21 November was proclaimed by the United Nations General Assembly in December 1996, because the first World Television Forum was held in 1996.

 

OTHER UPDATES:

 

SPORTS

 

1. FIFA U17 Women’s World Cup 2021 cancelled: The 2021 U-17 Women’s World Cup, which was scheduled to be held in India, has been cancelled due to the Coronavirus pandemic. It has also been decided that India will host the 2022 edition of the World Cup. The tournament was supposed to be held in November 2020 initially, only for the pandemic to force a postponement. FIFA then revised the schedule and the tournament was to be held in February and March in 2021 in India. The 2020 U20 Women’s World Cup has also been cancelled along with the U17 edition. While Costa Rica will get the chance to host the 2022 U20 Women’s World Cup. Five venues had been selected as host cities for the tournament – the Kalinga Stadium in Bhubaneswar, Vivekananda Yuba Bharati Krirangan (VYBK) in Kolkata, Indira Gandhi Athletic Stadium in Guwahati, EKA Arena in Ahmedabad and the DY Patil Stadium in Navi Mumbai.

Note: Headquarters of FIFA: Zürich, Switzerland; President of FIFA: Gianni Infantino.

 

BANKING AND FINANCE

 

1. Karnataka Bank launches CASA campaign: Karnataka Bank launched CASA (current account, savings account) mobilisation campaign which will run from November 17 to March 4, 2021. The bank stated that it intends to mobilise over 4.10 lakh current and savings accounts with an accretion of 650 crores of business. With this campaign, the bank intends to introduce its attractive and superior line of digitally powered savings and current account products to its customers.

The objective of the Campaign: To enable the basic banking services to the unbanked(not use banks or banking institutions) sections of the society. To popularize bank’s digitally powered CASA products to the next level of customers on the basis of their requirements.

Note: Karnataka Bank Limited Headquarters: Mangaluru(Mangalore), Karnataka; Karnataka Bank Limited MD & CEO: Mahabaleshwara M.S; Karnataka Bank LimitedIncorporated: February 18th, 1924; Karnataka Bank Limited Tagline: ‘Your Family Bank Across India’.

 

2. DIPAM inks agreement with World Bank: Department of Investment and Public Asset Management (DIPAM) has signed an agreement with the World Bank, to provide advisory services to DIPAM for asset monetization. DIPAM is mandated with facilitating monetization of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of the value of 100 crore and above. DIPAM has a framework for monetizing non-core assets.

Under the agreement: The World Bank advisory project, approved by the Finance Minister, is aimed at analyzing public asset monetization in India and benchmarking its institutional and business models against international best practices as well as supporting the development of operational guidelines and capacity building for their implementation.

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

 

BUSINESS AND ECONOMY

 

1. CCI approves Google picking up 7.73% stake in Jio Platforms: The Competition Commission of India (CCI) has said that it has approved Google picking up 7.73% stake in Mueskh Ambani-led Jio Platforms for ₹33,737 crore, facilitating the internet major and Jio Platforms Ltd (JPL) to develop and launch Android smartphones in India. Internet giant Google will be making the investment into the digital arm of Reliance Industries through its wholly-owned subsidiary Google International LLC (GIL). Google became the 14th investor to invest in Jio Platforms after Facebook, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, Intel Capital and Qualcomm Ventures.

 

AWARDS AND HONOURS

 

1. HelpAge India and Queen Mother of Bhutan receive 2020 UN Population Award: Her Majesty Gyalyum Sangay Choden Wangchuck, Queen Mother of Bhutan, was announced as the individual laureate for the 2020 United Nations Population Award. HelpAge India was announced as the award’s institutional laureate. Her Majesty Gyalyum Sangay Choden Wangchuck is a longstanding champion of sexual and reproductive health and rights and the need to end violence against women, girls and children in Bhutan. HelpAge India working in 20 States across India, the organization also provides employment opportunities to older people, advocates for their rights in the community and helps local organizations to support them. Established by the United Nations General Assembly in 1981, the United Nations Population Award recognizes contributions in the fields of population and reproductive health.

 

OBITUARIES

 

1. Former Goa Governor Mridula Sinha passes away: Former Governor of Goa and veteran BJP leader, Mridula Sinha passed away. She was the first woman Governor of Goa. She was also a proficient writer, making extensive contributions to the world of literature as well as culture. She has served as the head of the BJP’s women’s wing and Chairperson of Central Social Welfare Board in the Ministry of Human Resource Development. A native of Muzaffarpur, Sinha will be remembered for starting cultural events called ‘Chaand ke Saath’ in the lawns of Governor House. She had also opened a cattle shed inside the Raj Bhawan.

 

2. Former England, Tottenham and Liverpool goalkeeper, Ray Clemence, passes away: The former England international football goalkeeper, Raymond Neal Clemence, has passed away due to prostate cancer. He was 72. Ray was one of only 29 players to have made over 1,000 career appearances. He made his debut for Scunthorpe United and later joined Tottenham, Liverpool and England. After his retirement as a player, Clemence held coaching positions with England and Spurs.

Daily GK Updates – 20th Nov, 2020

NATIONAL UPDATES:

 

1. Govt approves 21 projects under Scheme for Integrated Cold Chain & Value Addition: Government has approved 21 projects, leveraging investment worth 443 crore rupees supported with a grant of 189 crore rupees under the Scheme for Integrated Cold Chain and Value Addition said by Minister for Food Processing Industries Narendra Singh Tomar. These projects will benefit farmers and consumers and urged the officers to expedite the implementation of approved projects. These projects are spread across Andhra Pradesh, Gujarat, Himachal Pradesh, Jammu and Kashmir, Kerala, Nagaland, Punjab, Telangana, Uttarakhand, and Uttar Pradesh. Besides, 8 projects leveraging investment worth 62 crore rupees with grants of 15 crore rupees under the Backward and Forward Linkages (BFL) Scheme were also approved in another meeting. These projects are likely to generate employment for nearly 2500 people.

 

2. Delhi Government launches Jeevan Seva app for COVID-19 patients: The Delhi government launched the Jeevan Seva app to aid Delhi’s Covid patients and their families for a safe commute to hospitals and healthcare facilities in the city. The app, launched in collaboration with EVERA will use electric vehicles as ambulances to transfer non-critical cases to healthcare facilities in Delhi, free of cost. Patients will be able to download the app through the link sent to them through SMS and QR code to every tested COVID positive patient in Delhi.

 

3. MoHFW launches three-month scheme to reduce childhood pneumonia deaths: A three-month marketing campaign to give attention to consciousness technology and early intervention with regard to childhood pneumonia, enabling caregivers throughout the nation to establish vital signs at earlier phases and set off immediate care-seeking with certified suppliers, was launched by the Union Ministry of Family Welfare (MoHFW). The initiative targets to reduce lower than 5 pneumonia deaths, per a 1000 reside births, to lower than three deaths by 2025 via the accelerated SAANS (Social Action and Awareness to Neutralise Pneumonia Successfully) initiative. Launched final 12 months, the SAANS marketing campaign enhances the nationwide childhood pneumonia administration tips via a three-pronged method to shield, forestall and deal with pneumonia amongst kids. Save the Children, the United Nations Children’s Fund (UNICEF) and the Clinton Health Access Initiative (CHAI) have additionally partnered with the MoHFW so as to intensify efforts to alleviate the burden of pneumonia on the nation.

 

INTERNATIONAL UPDATES:

 

1. PM Modi addresses 3rd Annual Bloomberg New Economy Forum: Prime Minister Narendra Modi has addressed the 3rd Annual Bloomberg New Economy Forum through video-conferencing. The forum witnessed discussions on refuelling the economy and charting a course for the future, as the world economy is grappling with the COVID-19 pandemic. Some other Speakers of the forum included Director-general of the World Health Organisation (WHO) Tedros Adhanom Ghebreyesus, former UK Prime Minister Tony Blair, former US President Bill Clinton, Microsoft founder Bill Gates, and Secretary-General of the United Nations Antonio Guterres.

About Bloomberg New Economy Forum: The Bloomberg New Economy Forum was established in 2018 by Michael Bloomberg, to build a community of leaders to engage in real conversations leading to actionable solutions about the critical challenges facing a world economy in the throes of a historic transition. The inaugural Forum was held in Singapore and the Second Annual Forum was hosted in Beijing.

 

2. Maia Sandu Wins Moldova Presidential Election: Maia Sandu has won Moldova’s presidential election after a run-off vote against the incumbent Igor Dodon. Ms Sandu has won 57.7% of the vote compared to Mr Dodon’s 42.2%. Sandu is a former World Bank economist who favours closer ties with the European Union. Mr Dodon, meanwhile, is openly backed by Russia.

Note: Moldova Capital: Chișinău; Moldova Currency: Moldovan leu.

 

3. Guadalajara named World Book Capital 2022: Guadalajara (Mexico) was named World Book Capital for the year 2022 by the Director-General of UNESCO, Audrey Azoulay, on the recommendation of the World Book Capital Advisory Committee. The city was selected for its comprehensive plan for policies around the book to trigger social change, combat violence and build a culture of peace. Tbilisi (Georgia) was named as the World Book Capital 2021 and Kuala Lumpur (Malaysia) for 2020.

 

OTHER UPDATES:

 

SPORTS

 

1. BCCI announces MPL Sports as Official Kit Sponsor: The Board of Control for Cricket in India (BCCI) has announced its partnership with Mobile Premier League (MPL) Sports, the athleisure wear and sports merchandise brand from Mobile Premier League, India’s largest esports platform, as the new kit sponsor and official merchandise partner for the Indian Cricket Team.

Under the newly-inked strategic partnership: MPL Sports has entered into a three-year agreement from November 2020 to December 2023. MPL Sports’ association with the BCCI begins with upcoming India’s tour of Australia, 2020-21, which will see Team India sporting the new jerseys. The senior men and women and the Under-19 teams are also a part of the deal for the new kits. Apart from Team India jerseys, MPL Sports will also sell licensed Team India merchandise. MPL Sports will offer the jerseys and its wide range of Team India merchandise to fans at affordable prices.

Note: President of BCCI: Sourav Ganguly; Headquarters of BCCI: Mumbai, Maharashtra; Founded: December 1928.

MPL Founded: September 2018; Headquarters of MPL: Bengaluru, Karnataka; Co-Founder and CEO of MPL: Sai Srinivas Kiran G.

 

BANKING AND FINANCE

 

1. RBI puts Lakshmi Vilas Bank under moratorium: The Reserve Bank of India (RBI) has placed cash-strapped Lakshmi Vilas Bank (LVB) under a moratorium for a period of one month and restricted withdrawals at Rs 25,000 for depositors, owing to a serious deterioration in the lender’s financial position. The central bank also superseded the board of directors of LVB for a period of 30 days owing to a serious deterioration in the financial position of the bank. The move was announced through an order by the Ministry of Finance. Reserve Bank has come to the conclusion that in the absence of a credible revival plan, with a view to protecting depositors’ interest and in the interest of financial and banking stability, there is no alternative but to apply to the Central Government for imposing a moratorium under section 45 of the Banking Regulation Act, 1949.

Lakshmi Vilas Bank to be merged with DBS: The RBI has also drafted a scheme of amalgamation for LVB with DBS Bank India Ltd. and aims to complete the merger process before the moratorium period ends. DBS Bank India Ltd (DBIL) is a wholly-owned subsidiary of DBS Bank Ltd, Singapore (“DBS”), which in turn is a subsidiary of Asia’s leading financial services group, DBS Group Holdings Limited. The bank invited suggestions and objections, if any, from members, depositors and other creditors of transferor bank (LVB) and transferee bank (DBIL), on the draft scheme. DBIL will bring in additional capital of ₹2,500 crore upfront, to support credit growth of the merged entity.

Note: Lakshmi Vilas Bank Headquarters: Chennai, Tamil Nadu; Lakshmi Vilas Bank Founded: 1926; Lakshmi Vilas Bank President: Avtar Singh Monga.

 

2. RBI creates Reserve Bank Innovation Hub to boost financial inclusion: The Reserve Bank of India has created a Reserve Bank Innovation Hub (RBIH). The aim of Innovation Hub is to promote innovation across the financial sector by leveraging on technology and creating an environment which would facilitate and foster innovation. RBIH will collaborate with financial sector institutions, technology industry and academic institutions and coordinate efforts for exchange of ideas and development of prototypes related to financial innovations.

About Reserve Bank Innovation Hub Management: Reserve Bank Innovation Hub (RBIH) would be managed by a Governing Council (GC) consisting of 10 members (including a chairperson). Shri Senapathy (Kris) Gopalakrishnan, co-founder and former co-Chairman, Infosys, has been appointed as the first Chairperson of the RBIH.

Note: Governor of RBI: Shaktikanta Das; Deputy Governors of RBI: BP Kanungo, MK Jain, MD Patra and Rajeshwar Rao; Headquarters of RBI: Mumbai, Maharashtra.

 

3. Equitas Small Finance Bank appoints Smriti Mandhana as brand ambassador: Equitas Small Finance Bank has launched a women-centred product ‘Eva’. The Bank has roped in Indian Woman cricketer Smriti Mandhana as the brand ambassador for its newly launched product ‘EVA’. Eva is unique savings account for women to address the well-being of Indian women in every aspect such as health, wealth and prosperity.

Key features of Eva Savings Account: Eva is available for all women like salaried/homemakers/businesswomen/senior citizens/transwomen as well as non-resident women. The women customers will get 7% interest on deposits. It also offers free health check-up and unlimited teleconsultation with women doctors, gynecologists and mental health experts. Eva also offers PF waiver and discounted gold loan rates for women customers, along-with 25-50% discounts on lockers.

Note: Equitas Small Finance Bank Chairman: Arun Ramanathan; Equitas Small Finance Bank MD and CEO: Vasudevan Pathangi Narasimhan; Equitas Small Finance Bank Headquarter: Chennai, Tamil Nadu.

 

BUSINESS AND ECONOMY

 

1. Fitch Solutions revises India’s fiscal deficit forecast to 7.8 per cent from 8.2 per cent earlier for FY21: Fitch Solutions has revised its estimate for India’s fiscal deficit to 7.8% of GDP for 2020-21 from 8.2% projected earlier. This was mainly driven by a strong recovery in tax revenues during Q2FY21. According to the report, this revised forecast was driven by a strong recovery in tax revenues during the second quarter of FY 2020-21. The fiscal revenue forecast in FY21 for the central government has been revised to 18.2 per cent decline, from the earlier forecast of 18.4 per cent. The rating agency expects India’s economy to contract by 10.5% in the year ending March 2021 and growth to rebound to 11% in FY22, even as output in early 2022 will still be 16% lower than under its pre-coronavirus forecasts.

 

2. Finance Minister Allocates Rs 39,097 Crore for MEIS Benefits for 2019-20; Rs 15,555 Crore for Apr-Dec 2020: Giving relief to exporters, the finance ministry has approved allocation of Rs 39,097 crore under the incentive scheme MEIS for exports during 2019-20. A total of Rs 15,555 crore was also allocated for MEIS (Merchandise Exports from India Scheme) benefits for exports made during the period April 1, 2020 to December 31, 2020. Accordingly, the Director General of Foreign Trade (DGFT) is requested to issue the scrips up to a total value of Rs 16,000 crore in 2020-21. Issuance of remaining scrips may be spread over the subsequent financial years through an appropriate mechanism.

 

AWARDS AND HONOURS

 

1. Russia’s Lakhta Center wins Emporis Skyscraper Award 2019: The Emporis Skyscraper Award, one of the world’s most renowned prizes for high-rise architecture, has been given to a 462-metre-high Lakhta Center in St Petersburg this year. This marks the first time that the prestigious award has gone to a project in Russia in the 20-year-long history of the award. The skyscraper which has been, designed by GORPROJECT and RMJM, is not only the tallest building in Russia but is the tallest building in entire Europe and the fourteenth tallest building in the world.

 

OBITUARIES

 

1. Rajasthan Minister Bhanwarlal Meghwal passes away: Rajasthan Social Justice and Empowerment Minister Bhanwarlal Meghwal passed away. The five-time MLA represented the Sujangarh assembly constituency of Churu district of the state.

 

2. Ghana’s former president Jerry Rawlings passes away: Jerry Rawlings, who seized power twice in military coups but is now credited as a driving force behind Ghana’s emergence as a stable democracy, died. He was 73. His takeovers in 1979 and 1981 were marked by authoritarian rule and the executions of senior military officers, including General Frederick Akuffo, whom he overthrew in the first coup. But Rawlings went on to oversee Ghana’s transition to multi-party democracy, winning election in 1992 and 1996 before stepping down in 2001.

Daily GK Updates – 19th Nov, 2020

NATIONAL UPDATES:

 

1. Asia’s 1st solar power-enabled Textile Mill to be unveiled in Maharashtra: The first solar power-enabled Textile Mill in Asia is set to be set up in Parbhani district, Maharashtra. Spread across 30 acres of land, the Jai Bhawani women’s cooperative textile mill will be first in Asia that will operate entirely on solar power. The overall cost of setting up the project is around Rs. 100 crore. Once functional, the mill will process cotton to cloth and would provide jobs to many women in the district. Parbhani is the leading cotton-producing district in Maharashtra and with the operationalization of the mill, it will give momentum to the industrial sector in the district.

 

2. IRCTC to start ‘Bharat Darshan Yatra’ on December: Indian Railway Catering and Tourism Corporation (IRCTC) will be starting ‘Bharat Darshan–Dakshin Bharat Yatra’ from December 12. The Bharat Darshan Yatra will start from Hyderabad and Secunderabad from December 12 to 18. The theme of this yatra will be ‘Show India to Indians’.

About the ‘Bharat Darshan–Dakshin Bharat Yatra’: The facility of boarding and de-boarding this tourist train will be available at Secunderabad, Khammam, Nellore, Vijayawada, Warangal, Ongole, and Renigunta. The train will have 12 sleeper coaches, one 3-tier AC coach and a pantry car. The standard fare for sleeper coaches will be Rs 7,140 and that for three-tier AC will be Rs 8,610. The facility of night stays for all the tourists will be made at dormitories or dharmasalas. Tourists will also be provided with the morning tea, breakfast, lunch, dinner and a water bottle per day. The authorities will arrange non-AC bus transportation on sharing basis and tour escort and security on the train. In January 2019, IRCTC also started booking for Shirdi Sai Baba darshan tickets on its website.

Note: IRCTC Incorporated on September 27, 1999. Indian Railway Catering and Tourism Corporation (IRCTC) is a subsidiary organisation of the Indian Railways.

 

3. ED Director SK Mishra’s tenure extended by one year: The Union government has extended the tenure of Enforcement Directorate (ED) Director Sanjay Kumar Mishra by a year after modifying his appointment order that was issued in 2018. His tenure was to end next week as the ED director’s post comes with a fixed term of two years. As per an order issued by the Department of Revenue under the Union finance ministry on Friday, the 2018 order for appointment of Mishra has been modified. “The President of India is pleased to approve the modification in the earlier order dated November 19, 2018, appointing Shri Sanjay Kumar Mishra as director of enforcement in the Enforcement Directorate.

Enforcement Directorate (ED): The ED is a central investigative agency that enforces two central laws, the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA). These laws were enacted to curb money laundering, terror financing, black money and hawala or illegal financial transactions that have cross-border ramifications.

Note: Enforcement Directorate Founded: 1 May 1956; Enforcement Directorate Headquarters: New Delhi, India.

 

4. PM Narendra Modi unveils Swami Vivekananda’s statue on JNU: Prime Minister Narendra Modi has unveiled a statue of Swami Vivekananda in Jawaharlal Nehru University Campus, New Delhi through video conferencing. It took renowned sculptor Naresh Kumawat seven months to complete this statue of Swami Vivekananda on the JNU campus. Located about 300 metres from a statue of India’s first prime minister, the statue of Swami Vivekananda is about three feet taller than that of Jawaharlal Nehru. The event was also attended by Union Minister for Education Ramesh Pokhriyal Nishank and JNU vice-chancellor Jagadesh Kumar.

 

5. PM Modi unveils ‘Statue of Peace’ in Rajasthan: Prime Minister Narendra Modi has virtually unveiled the ‘Statue of Peace’ dedicated to Jain Monk Acharya Shree Vijay Vallabh Surishwarji Maharaj. The 151-inch (12.6 ft) tall statue was inaugurated by PM Modi on the occasion of the 151st birth anniversary of Acharya Shree Vijay Vallabhsuri, at Vijay Vallabh Sadhana Kendra, Jetpura, in Pali, Rajasthan. The Statue of Peace has been made from Ashtadhatu, which means 8 metals, and includes Copper as the major constituent.

 

INTERNATIONAL UPDATES:

 

1. PM Modi Virtually Attends 12th BRICS Summit: Prime Minister Narendra Modi has virtually addressed the 12th (BRICS) Summit. The Summit was held under the Chairmanship of Russian President Vladimir Putin. India will be taking over the Chairmanship of the BRICS in 2021 and host the 13th BRICS Summit in 2021. It would be the third time that India will take over the BRICS Presidency since its inception. Previously India was the Chair in 2012 and 2016.

The theme of the 12th edition of BRICS Summit was “Global stability, shared security and innovative growth”. The key issues discussed by the leaders included intra-BRICS cooperation and other key issues in the global context, like the reform of the multilateral system, measures to mitigate the impact of the ongoing COVID-19 pandemic, cooperation in Counter-Terrorism, trade, health, energy and people to people exchanges.

 

2. SpaceX launches 4 astronauts into space: SpaceX has launched Four Astronauts (3 Americans, 1 Japanese) to the International Space Station on the first full-fledged taxi flight for NASA (National Aeronautics and Space Administration) by a private company. They were launched by Falcon Rocket from the Kennedy Space Center. The capsule has been named as “Resilience”. The crew was led by Commander Mike Hopkins, Shannon Walker, Victor Glover (First Black Astronaut on a long-term space station) mission and Japan’s Soichi Noguchi (First person in 40 years to launch on three types of spacecraft).

 

3. World Toilet Day: 19th November: World Toilet Day (WTD) is observed globally on 19 November to inspire action to tackle the global sanitation crisis. World Toilet Day celebrates toilets and raises awareness of the 4.2 billion people living without access to safely managed sanitation. It is about taking action to tackle the global sanitation crisis and achieve Sustainable Development Goal 6: water and sanitation for all by 2030. The day was established by the World Toilet Organization in 2001 and officially declared by the UN General Assembly in 2013. This year the theme remarks on the importance of “Sustainable sanitation and climate change”.

Note: World Toilet Organization Headquarters: Singapore; World Toilet Organization Founder and Director: Jack Sim; World Toilet Organization Founded: 19 November 2001.

 

4. World Philosophy Day: 19th November: World Philosophy Day is observed on the third Thursday of November every year. This year World Philosophy Day falls on 19 November 2020. The Day encourages academic exchange and highlights the contribution of philosophical knowledge in addressing global issues. In 2005 the UNESCO General Conference proclaimed that World Philosophy Day would be celebrated every third Thursday of November. In establishing World Philosophy Day UNESCO strives to promote an international culture of philosophical debate that respects human dignity and diversity.

 

OTHER UPDATES:

 

SPORTS

 

1. Sudeep Tyagi announces retirement from all forms of cricket: Indian cricketer, Sudeep Tyagi has announced his retirement from all forms of the cricket. The 33-year-old had played for the Indian national cricket team in four ODIs and a lone T20I as a fast bowler. Apart from this, the right-arm medium-fast bowler had also featured in 14 games in the Indian Premier League (IPL) for Chennai Super Kings (CSK) and Sunrisers Hyderabad (SRH).

 

2. Trailblazers beat Supernovas by 16 runs to win Women’s T20 Challenge title: Trailblazers beat Supernovas by 16 runs to win clinch the Jio Women’s T20 Challenge title. Smriti Mandhana starred with the bat while Salma Khatun picked three wickets as Trailblazers beat Supernovas by 16 runs to clinch the Jio Women’s T20 Challenge title at the Sharjah Cricket Stadium. Opting to field, Supernovas restricted Trailblazers to 118/8 despite Smriti Mandhana’s 49-ball 68. Radha Yadav claimed the maiden five-wicket haul (5/16) in the short history of the competition to deny the final flourish to Trailblazers’ innings.

 

BANKING AND FINANCE

 

1. RBI imposes Rs 1 crore penalty on Punjab National Bank: The Reserve Bank of India has imposed a penalty of Rs 1 crore on Punjab National Bank for violating the Payment and Settlement Systems Act, 2007. Punjab National Bank was operating a bilateral ATM-sharing arrangement with Druk PNB Bank Ltd., Bhutan, since April 2010 without prior approval or authorisation from India’s banking regulator. RBI imposed the Rs 1 crore penalty for “contravention of nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act).”

Note: Punjab National Bank Headquarters: New Delhi; Punjab National Bank MD and CEO: S. S. Mallikarjuna Rao; Punjab National Bank Founded: 19 May 1894, Lahore, Pakistan.

 

2. SBM Bank India set to launch a neo banking platform: SBM Bank India, the wholly-owned subsidiary of State Bank of Mauritius has partnered with Fintech PayNearby to launch a neo banking platform. Both firms signed a Memorandum of Understanding (MoU) to build an “open banking” network towards delivering basic banking solutions as well as advanced financial services, to their customers. The partnership would enable the Bank to offer a complete suite of digital and assisted banking solutions through PayNearby’s network of micro-enterprise and retail touchpoints. The deployment of the banking module will be done in a phased manner and will work seamlessly with the existing platforms at PayNearby outlets and touchpoints. SBM Bank India was the first foreign bank in India to obtain a banking licence from the Reserve Bank of India to operate as a Wholly Owned Subsidiary in January 2019.

About Neo bank: Neo bank is a type of bank that operates exclusively online, i.e., it does not have any traditional physical branch networks. Neo banks are cheaper, faster. In one single platform, the neo bank can integrate the entire financial portfolio. It offers complete digital banking experience through mobile applications. It is also known as an online bank, internet-only bank, virtual bank or digital bank.

Note: SBM Bank (India) Limited Headquarters: Mumbai, Maharashtra; SBM Bank (India) Limited MD and CEO: Sidharth Rath; SBM Bank (India) Limited Commenced Operations– 1st December 2018; SBM Bank (India) Limited Tagline: We make banking convenient for you.

 

BUSINESS AND ECONOMY

 

1. Tata AIA Life Insurance partners with PayBima to drive Life Insurance Protection through Digital sales: Tata AIA Life Insurance (Tata AIA Life), one of India’s leading providers of Pure Protection Solutions, announced that it has partnered with PayBima, the digital arm of Mahindra Insurance Brokers Ltd., as a Broker to distribute its industry-leading life insurance solutions. The association is in line with Tata AIA Life’s mission to provide Ease of Doing Business (EoDB) to its customers and aims to make the process of buying life insurance solutions simple, easy, and convenient. As part of the agreement, PayBima.com will offer the life Insurance solutions of Tata AIA Life on its platform. PayBima will leverage its analytics skill to offer personalised life insurance solutions best suited to the needs of its customers.

 

AWARDS AND HONOURS

 

1. Dr Susanta Kar Honoured with Prof. A N Bhaduri Memorial Lecture Award-2020: Dr Susanta Kar, Senior Scientist, Molecular Parasitology and Immunology, Council of Scientific & Industrial Research- Central Drug Research Institute (CSIR-CDRI) was honoured with “Prof. A N Bhaduri Memorial Lecture Award 2020” by Society of Biological Chemists (India), Bengaluru. The award is given to him for his contribution towards defining the survival tactics of Leishmania Donovani.

About Leishmania Donovani: Leishmania Donovani is a protozoan parasite that infects the macrophages and the causative agent of visceral leishmaniasis (Kala-Azar).

 

OBITUARIES

 

1. Japanese Nobel-prize-winning Masatoshi Koshiba passes away: Physicist Masatoshi Koshiba, who shared 2002 Nobel prize for the detection of cosmic neutrinos, passed away. Koshiba’s most famous work involved detecting neutrinos from a distant supernova explosion using a vast detector based in a mine in central Japan. Koshiba, a distinguished professor at the University of Tokyo. Koshiba devised the construction of giant underground chambers to detect neutrinos, elusive particles that stream from the sun. Neutrinos offer a unique view of the sun’s inner workings because they are produced in its heart by the same process that causes the sun to shine. His student, Takaaki Kajita, won the Nobel Prize in physics in 2015 for research at the Super-Kamiokande facility that found neutrinos have mass.

 

2. Former Pondicherry Lt Guv Chandrawati passes away: Former Lt Governor of Pondicherry, Chandrawati passed away. She has a number of 1st to her credit as she was the 1st Member of Parliament (1977), the 1st MLA, 1st minister (1964-66 and 1972-74) & 1st leader of Opposition in the Haryana assembly (1982-85). Chandrawati had also served as the president of the Janata Party from 1977 to 1979.