Daily GK Updates – 8th Dec, 2020

 

NATIONAL UPDATES:

 

1. Govt Forms Task Force to Impart Technical Education in Mother Tongue: In an effort to bring major changes in technical education, the Ministry of Education under the leadership of Union Education Minister Ramesh Pokhriyal ‘Nishank’ has set up a task force for preparing a roadmap on imparting technical education in Mother Tongue. As per updates, the task force set up under the chairmanship of Amit Khare, Secretary of Higher Education Department, will take into consideration the suggestions made by various stakeholders and will submit a report in a month.

 

2. Madhya Pradesh Aims to completely eliminate AIDS by 2030: Madhya Pradesh did not see a significant increase in the number of HIV patients in the last two years. As per Union health ministry report issued this September 20, the state reported 0.59 lakh patients in 2018 and the government aims to completely eliminate AIDS by 2030. The highest number 12 thousand 773 patients reported in Indore. Bhopal is at number two with more than 7 thousand patients. Jabalpur has around 6 thousand patients while Gwalior has more than 3 thousand HIV patients. The highest 68 percent HIV infected people belong to the age group of 25 to 49 years.

 

3. V. Naidu virtually releases postage stamp in former PM IK Gujral’s honour: Vice President Venkaiah Naidu has virtually released a commemorative Postage Stamp in honour of the late Prime Minister of India & Freedom Fighter, I K Gujral (Inder Kumar Gujral). I K Gujral was the 12th Prime Minister of India, he served as the Prime Minister from April 1997-March 1998. He was born in Jhelum (now in Pakistan) in 1919. During his tenure as India’s External Affairs Minister, I K Gujral laid a set of five principles – ‘Gujral Doctrine’ to guide the conduct of foreign relations with India’s immediate neighbours. He passed away in 2012 due to a lung infection.

 

4. Vice President releases a book on Former President Dr APJ Abdul Kalam: The Vice President of India, M Venkaiah Naidu has released the book titled “40 Years with Abdul Kalam- Untold Stories”, a book on the life of the former President of India Dr APJ Abdul Kalam. The book was authored by Dr A.Sivathanu Pillai. The book is published by Pentagon Press LLP and the foreword was written by Pranab Mukherjee, former president of India.

About the book: The book provided a first-hand account of the life of Dr APJ Abdul Kalam, who was described as the epitome of simplicity, honesty and wisdom. Dr. Kalam strengthened the Defence sector of India and contributed to the development of India’s space capabilities. The book discusses his life events including the events at ISRO, DRDO and BrahMos and his interaction with the power corridors

About Dr A. Sivathanu Pillai: Dr A. Sivathanu Pillai has assisted Dr Vikram Sarabhai during the evolution of the ten-year space profiles and worked with Dr APJ Abdul Kalam in Satellite Launch Vehicle-3 (SLV3) and Polar Satellite Launch Vehicle (PSLV) configuration design and with Prof. Satish Dhawan in the study of future ISRO launch vehicles and missions.

 

5. Rajnish K Jenaw posted as CMD, NSFDC: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Rajnish Kumar Jenaw (IP&TA&FS) as new Chairman & Managing Director (CMD) of National Scheduled Castes Finance & Development Corporation (NSFDC) under the Department of Social Justice & Empowerment. Jenaw has been appointed to the post with effect from the date of assumption of charge and for a period up-to August 31, 2024, i.e. date of his superannuation or until further orders, whichever is earlier. He is a 1992-batch Indian Post & Telecommunication Accounts and Finance Service officer.

 

INTERNATIONAL UPDATES:

 

1. China becomes second nation to plant flag on the Moon: China has become the second country in the world to unfurl its national flag on the moon surface. Earlier this feat was achieved only by the USA when it planted its flag on the Moon during the Apollo mission in 1969. China achieved the historic feat when ‘Chang’e 5‘ probe of China, which was launched to collect soil and rock samples of the lunar surface, took off from the moon to return to earth after planting the national flag on 3rd December 2020.

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

 

2. Britain becomes first country in world to approve coronavirus vaccine: In a historic move, Britain has become the first country in the world to approve the Pfizer-BioNTech coronavirus vaccine. The vaccine will be rolled out from next week onwards. Priority for vaccination will be given to healthcare workers and care home residents.

 

3. Indian oil Chairman Shri SM Vaidya taken charge as VP of the World LPG Association: Shri SM Vaidya is appointed as the first Vice President of the World LPG Association (WLPGA). The World LPG Association (WLPGA) is the authoritative voice of the global LPG industry representing the full LPG value chain. Shri SM Vaidya currently is the Chairman of Indian Oil Corporation.

 

OTHER UPDATES:

 

SPORTS

 

1. FIFA extends 7-team Club World Cup to 2021; Japan to host: Japan was chosen to host a traditional, seven-team Club World Cup in December 2021. FIFA wanted a December 2020 edition in Qatar to be the last with seven teams, six continental champions and the host nation’s domestic league winner. The format often attracts little interest and is routinely won by the European club.

 

BANKING AND FINANCE

 

1. Paytm partners with Suryoday Small Finance Bank to empower MSMEs with instant digital loans: Paytm has announced its partnership with Suryoday Small Finance Bank to empower MSMEs with instant digital loans. The company is offering instant microloans to businesses that are unable to access financial services from traditional banking players. The company through this partnership is aiming at disbursing loans to over 1 lakh small businesses in the next 12 to 18 months.

 

2. NABARD and SBI sign MoU to extend concessional refinance facility in Karnataka: The Karnataka regional office of NABARD and State Bank of India have signed an MoU to extend concessional refinance facility to the beneficiaries of watershed development and tribal development projects. The MoU aims to benefit 45000 beneficiaries from 260 Farmers Producers Organisations in 28 districts. In addition 8500 beneficiaries from Self Help groups and Joint Liability Groups will be covered. The MoU signed will enable SBI to act as an implementing agency for digitilising the Self Help Groups and uploading data on E-Shakti portal across the state.

 

3. ICICI Bank Opens Representative Office in Nepal, First Pvt Sector Lender to do so: ICICI Bank opened its representative office in Nepal’s capital Kathmandu. The representative office will closely work with the domestic banks in Nepal to facilitate investment, trade, payments and treasury business between the two countries. With this foray, ICICI Bank has expanded its footprint to 15 countries, including India.

 

BUSINESS AND ECONOMY

 

1. RBI Projects 6.8% Retail Inflation in December Quarter: The Reserve Bank of India said retail inflation is likely to remain elevated and pegged it at 6.8 per cent for the third quarter of the current fiscal. RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) is of the view that inflation is likely to remain elevated, barring transient relief in the winter months from prices of perishables

 

2. India Economy Likely to Contract by 10% in FY21, Says Former Planning Commission Member Abhijit Sen: India’s economy is likely to contract by around 10 per cent in the current fiscal, eminent economist and former Planning Commission member Abhijit Sen said. Sen, also an expert on issues related to agriculture, further said that the government would not be able to double farmers’ income by 2022.

 

AWARDS AND HONOURS

 

1. Ranjitsinh Disale becomes 1st Indian to win 2020 Global Teacher Prize: Ranjitsinh Disale, a government teacher from Zilla Parishad Primary School, in Paritewadi village, Solapur district of Maharashtra, has won the 2020 Global Teacher Prize. He is the first Indian to win this award, which carries prize money of $1 million (Rs 7.4 crore).

The 32-year-old has won the annual Global Teacher Prize 2020 in recognition of his efforts to promote girls’ education in his village and trigger a quick-response (QR) coded textbook revolution in India. He made efforts and added QR codes to textbooks of primary classes to provide links to audio poems, video lectures, stories and assignments. He also worked towards education for girls and teaching people about the ill-effects of teenage marriage and even helped to achieve 100% attendance of girls.

Ranjitsinh has also created history by announcing to share half the prize money with the nine finalists from across the world for the award, where each one will receive about $55,000 each. He also becomes the first winner to share the prize money with the finalists.

About the Global Teacher Prize: The Global Teacher Prize is an annual prize founded by the Varkey Foundation in 2014 to recognise an exceptional teacher who has made an outstanding contribution to the profession. The award is given in partnership with UNESCO.

Note: UNESCO headquarters: Paris, France; UNESCO Head: Audrey Azoulay; UNESCO Founded: 16 November 1945.

 

2. Gitanjali Rao becomes 1st-ever TIME’s “Kid of The Year”: The Indian-American young scientist and inventor, Gitanjali Rao, has been named as the first-ever ‘Kid of the Year’ by the iconic TIME magazine. This is the first time that the TIME magazine has launched the Kid of The Year” award.

About Gitanjali Rao: The 15-year-old Gitanjali Rao was chosen from among more than 5,000 nominees, for her “astonishing work” using technology to tackle issues ranging from contaminated drinking water to opioid addiction and cyberbullying. She has created applications named ‘Kindly’ to help people, especially kids, fight opioid addiction and cyberbullying. TIME magazine had partnered with Nickelodeon and searched social media and school districts across the country to shortlist the most influential child of 2020.

Note: TIME magazine Headquarters: United States; TIME magazine Editor: Edward Felsenthal; TIME magazine First issue date: 3 March 1923.

 

DEFENCE

 

1. PASSEX conducted by Indian Navy and Russian Navy: The Indian Navy (IN) and the Russian Federation Navy (RuFN) are undertaking Passage Exercise (PASSEX) in the Eastern Indian Ocean Region (IOR). The exercise will help in enhancing interoperability, improving understanding and imbibing best practices between both the friendly navies. It involves advanced surface and anti-submarine warfare exercises, weapon firings, seamanship exercises and helicopter operations.

Indian Navy is being represented by indigenously constructed guided-missile frigate Shivalik and anti-submarine corvette Kadmatt along with integral helicopters. Russian Federation Navy includes guided-missile cruiser Varyag, the large anti-submarine ship Admiral Panteleyev and medium ocean tanker Pechenga. The PASSEX’s are conducted regularly by Indian Navy with units of friendly foreign navies.

 

OBITUARIES

 

1. Lakshadweep Administrator Dineshwar Sharma passes away: Lakshadweep Administrator, Dineshwar Sharma passed away. He was earlier headed the Intelligence Bureau and was also the Interlocutor for Jammu and Kashmir. The 66-year-old retired IPS officer of the Kerala cadre had been appointed administrator of the Lakshadweep Union Territory in October 2019. He was assistant director in the IB in Kashmir between 1994 and 1996 and then went on to serve on the Kashmir desk of the bureau in the national capital.

Daily GK Updates – 7th Dec, 2020

NATIONAL UPDATES:

 

1. Majerhat Bridge named “Jai Hind” to Mark Netaji’s 125th Birth Anniversary: West Bengal Chief Minister, Mamata Banerjee named the newly built “Majerhat bridge” in Kolkata as ‘Jai Hind’ bridge to commemorate the 125th Birth Anniversary of Subash Chandra Bose. The new bridge has been built in the place of an old one which collapsed in September 2018. It is 650-metres long and connects the Central part of Kolkata to the Southwestern suburbs of Behala and others.

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

 

2. ADB approves $430 million financing facility to improve power supply in Uttar Pradesh: The Asian Development Bank (ADB) has approved a USD 430 million multi-tranche financing facility (MFF) to improve the quality and reliability of electricity supply in Uttar Pradesh in India. The Uttar Pradesh Power Distribution Network Rehabilitation Project will improve efficiency and sustainability of power supply in the state. The project will finance the conversion of 65,000 km rural low-voltage distribution lines from bare conductors to aerial bundle conductors to benefit an estimated 70 million people in 46,000 rural villages. It will also finance construction of a parallel network of 11 kV feeders with a total length of 17,000 km to separate distribution of electricity between residential consumers and agriculture consumers.

 

3. Kuldeep Handoo appointed as “Fit India” movement ambassador: Srinagar born Wushu coach and the first Dronacharya Awardee from the Union Territory of Jammu and Kashmir, Kuldeep Handoo is appointed as the Ambassador of Fit India movement. He won 11 gold medals in National and 6 in International stage, is the Wushu coach of Team India. Under his guidance Athletes have won two gold medals at the world championship and one at the World Cup. He also serves as Inspector of police in Jammu and Kashmir.

Other Awards: Jammu and Kashmir Police medal award, for meritorious service; The Parshuram Award, an honour of sports in the state of Himachal Pradesh

About Fit India movement: Fit India movement was launched in August 2019, to encourage Indians to include fitness activities and sports in their daily lives to pave the way for a healthy and fit lifestyle.

Note: Founder of FIT India: Suparno Satpathy.

                         

4. Assam govt launches ‘Orunodoi’ scheme: Assam Chief Minister Sarbananda Sonowalon launched the biggest-ever Direct Benefit Transfer (DBT) scheme called ‘Orunodoi’, aiming to cover 22 lakh families in the state. The scheme has been rolled out with 17 lakh families as beneficiaries at present. The government said that it will transfer Rs 830 per month to the account of one of the female members of the family under the ‘Orunodoi’ scheme. The number of beneficiaries will increase to about 22 lakh once the BTC districts are also included.

 

5. Assam set to get its sixth national park: An Assam reserve forest, ravaged by militancy, is set to become the state’s sixth national park. The state government has proposed to upgrade the 422-sq km Ripu Reserve Forest in Kokrajhar district. The area of proposed Raimona National Park lies within the Ripu Reserve Forest that has a history of one of the best scientifically-managed forests in the country during the late 19th century. The area comprises the highest biodiverse floristic composition of the state wherein as many as 11 different forest types and sub-types could be classified.

 

6. Armed Forces Flag Day: 7th December: In India, the Armed Forces Flag Day (also known as the Flag Day of India) is observed annually on December 7 since 1949 as an honour to the soldiers, sailors and airmen of India who fought on the borders to keep the country safe. The three branches of the Armed Forces of India, namely, the Indian Army, the Indian Air Force and the Indian Navy are remembered on this day. The ‘Armed forces Flag Day Fund’ (AFFDF) has been constituted by the Government of India for the welfare and rehabilitation of the Ex-Servicemen (ESM) community.

 

INTERNATIONAL UPDATES:

 

1. Bangladesh signs maiden Preferential Trade Agreement (PTA): Bangladesh has signed its first Preferential Trade Agreement (PTA) with Bhutan, which will allow duty-free access to a range of goods between the two countries and hence boost bilateral trade between them. Under the PTA, 100 Bangladeshi products will get duty free access to Bhutan, while 34 items from Bhutan will get duty free access into Bangladesh. Further items can be added in the list later on the basis of discussion between the two countries. This is the first PTA signed by Bangladesh with any country in the world since its independence in 1971. The PTA was signed on 6th December 2020, to mark 50th anniversary of diplomatic relations between Bangladesh and Bhutan. In 1971, Bhutan was the first country in the world to recognise Bangladesh as an independent country.

Note: Prime Minister of Bangladesh: Sheikh Hasina; Capital: Dhaka; Currency: Taka.

Bhutan Capital: Thimphu; Bhutan Currency: Bhutanese ngultrum; Bhutan Prime Minister: Lotay Tshering.

 

2. Singapore becomes first country to approve lab-grown meat: Singapore has granted San Francisco start-up Eat Just regulatory approval to sell its laboratory-grown chicken in the city-state, the world’s first government to allow the sale of cultured meat. Singapore Food Agency (SFA), Singapore’s regulatory authority entrusted with ensuring a safe food supply, granted the approval after an iterative and extensive safety review process. The cell-cultured chicken will be produced under Eat Just’s new GOOD Meat brand through partnerships with local manufacturers. The lab meat will go on sale to restaurants before it is available to consumers.

 

3. International Civil Aviation Day: 7th December: The International Civil Aviation Day is celebrated every year on December 7 to recognize the importance of aviation to the social and economic development of the world. The purpose of International Civil Aviation Day is to help generate and reinforce worldwide awareness of the importance of international civil aviation to the social and economic development of States, and of the unique role of ICAO in helping States to cooperate and realize a truly global rapid transit network at the service of all mankind. The Council has decided that from now until 2023, the theme will be: “Advancing Innovation for Global Aviation Development”. The Day was established in 1994 to celebrate the 50th anniversary of the establishment of the International Civil Aviation Organization (ICAO). The United Nations General Assembly proclaimed the day in 1996.

Note: International Civil Aviation Organization Headquarter: Montreal, Canada; International Civil Aviation Organization Council President: Salvatore Sciacchitano; International Civil Aviation Organization Founded: 7 December 1944.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Axis Bank launches ‘Axis Bank Rupi Business Credit Card’ for MSMEs: Axis Bank Ltd in partnership with Rupifi and Visa launched ‘Axis Bank Rupifi Business Credit Card’ for MSMEs (Micro, Small and Medium Enterprises). This Contactless Co-Branded credit card, powered by Visa is applicable only to the MSMEs businesses that transact on the aggregator platforms partnered with Rupifi PAN (Permanent Account Number) India for their business purchases. The card offers credit solutions to such MSMEs. It is only for domestic transactions. About Axis Bank Rupifi Business Credit Card:

Average Credit Limit: The average credit limit offered by the card will be between the range of Rs 1 Lakh and Rs 2 lakh per month. This will be decided on the basis of the business data of the transaction of the MSME with the aggregator platforms, GMV (Gross Monthly Volume) of the last 6 months and overall revenue among other factors.

Joining and Annual Fees: The joining fee is Rs 1000 and the annual fee is not required for this card.

Revolve feature & Interest-free Credit Period: The card comes with a 51 days interest-free credit period. The revolving feature of the card provides the customers with an option to pay the full balance at the end of each billing cycle or to carry over the balance from one month to the next by paying a minimum amount.

Note: Axis Bank Headquarters: Mumbai, Maharashtra; Axis Bank MD and CEO: Amitabh Chaudhry; Axis Bank Tagline:  Badhti Ka naam Zindagi

Rupifi Co-Founder and CEO: Anubhav Jain; Rupifi Headquarters: Bengaluru(Bangalore), Karnataka; Rupifi Founded: 2019.

 

2. SIDBI launches asset restructuring web module, signs MoU with Indian Bank: The Small Industries Development Bank of India (SIDBI) has launched an asset restructuring web module, https://arm-msme.in, to help MSMEs (micro, small and medium enterprises) get benefit from the Reserve Bank of India’s (RBI) MSME restructuring guideline. With the help of this Do-It-Yourself (DIY) asset restructuring web module, MSMEs will be able to prepare restructuring proposals by keying in only the most essential data of their past financials, future projections and restructuring requirements. The proposal prepared can be submitted online to the banks and reports can also be generated for submission to banks through email or in hard copies. A Memorandum of Understanding (MoU) to this effect was signed on Monday between SIDBI and Indian Bank in the presence of Padmaja Chunduru, MD & CEO, Indian Bank.

 

3. NPCI allows payment banks and fintechs to be shareholders: Retail payments body National Payments Corporation of India (NPCI) said that it has completed private placement of 4.63% of its equity shares worth ₹81.64 crores, allowing small finance and payment banks, as well as fintechs to be shareholders in the organisation. With this small finance and payment banks such as AU Small Finance Bank Ltd., India Post Payments Bank Ltd., and digital payment fintechs including BillDesk, Amazon Pay, PayU India, PhonePe, Pine Labs and MobiKwik have joined NPCI’s shareholding and hold up to 0.44% each in the retail payments entity. The total shareholder entities for NPCI now stands at 67.

 

AWARDS AND HONOURS

 

1. HCL’s Roshni Nadar tops Kotak Wealth-Hurun wealthy women list 2020: Chairperson of HCL Technologies, Roshni Nadar Malhotra has topped the list of wealthiest women in India, according to the second edition of ‘Kotak Wealth Hurun–Leading Wealthy Women’ report. The report is compiled by Kotak Wealth Management, a division of Kotak Mahindra Bank, and Hurun India. Kiran Mazumdar-Shaw of Biocon and Leena Gandhi Tewari of USV are at the second and third rank respectively in the Kotak Wealth Hurun wealthy women list 2020. Shaw is also the wealthiest self-made woman on the list. 19 women from this list also feature in the Hurun India Rich List 2020, and 6 women have made it to the Hurun Global Rich List 2020.

About the Ranking: The ranking is based on the net worth of women as on September 30, 2020, and focuses exclusively on women who play an active role in their family business, entrepreneurs and professionals.

 

2. Manipur’s Nongpok Sekmai Police Station best in India: The Nongpok Sekmai Police Station in Manipur topped the list of best police stations in India, while Sooramangalam All Women Police Station at Salem, Tamil Nadu was adjudged the second best police station in the country. The Kharsang PS, Arunachal Pradesh‘s Changlang district was adjudged the country’s third-best police station. Here is the list of Top 5 Police Stations for 2020:

State	District	Police Station
Manipur	Thoubal	Nongpok Sekmai
Tamil Nadu	Salem City	AWPS-Suramangalam
Arunachal Pradesh	Changlang	Kharsang
Chhattisgarh	Surajpur	Jhilmili (Bhaiya Thana)
Goa	South Goa	Sanguem

The top 10 Police Stations were selected from among the 16,671 Police Stations in the country through data analysis, direct observation and public feedback. The parameters used were: Property offence; Crime against women; Crime against weaker sections; Missing persons, unidentified found person and unidentified dead bodies.

 

OBITUARIES

 

1. World’s greatest athlete-turned actor Rafer Johnson passes away: American decathlete and film actor, Rafer Johnson, who was 1960 Olympic gold medalist in the decathlon, has passed away. After he retired from athletics, Johnson turned to act and appeared in a number of films, including the James Bond film Licence to Kill in 1989.

Daily GK Updates – 6th Dec, 2020

 

NATIONAL UPDATES:

 

1. ADB and India sign $50 million loan agreement for West Bengal: The Asian Development Bank (ADB) and the Government of India have inked $50 million policy-based loan agreement to improve financial management procedures and operational efficiencies in West Bengal. Titled as the ‘West Bengal Public Finance Management Investment Programme’, the project will help to achieve more fiscal savings, promote informed decision making, and improve service delivery in the state. A centre for fiscal policy and public finance will be established to deepen the capacity of the state government officials on public finance management while developing a web-based grievance redress system for transport corporations and urban local bodies will provide a credible citizen-government interface.

Note: President of ADB: Masatsugu Asakawa; Headquarters: Manila, Philippines.

 

2. International Sand Art Festival & Konark Festival 2020 begins: The 9th edition of the International Sand Art Festival and the 31st edition of the Konark Festival has kicked-off in Odisha. International Sand Art Festival is being held at the Chandrabhaga Beach of Konark in Puri district of Odisha. About 70 artists from across the country are taking part in the festival. The world-renowned sand artist and Padmashree Awardee, Sudarsan Pattnaik, has been appointed as Chief Curator of the festival.

About the Konark Festival 2020: The festival is organised every year as part of the Konark Dance Festival, to provide a platform for both national and international sand artists to showcase their talent. However, in 2020 international artists are not participating due to the ongoing global Covid-19 pandemic. Meanwhile, the Konark Festival is organised by Odisha Tourism to showcase the best of India’s traditional and classical dance forms, and offer interesting insights into the rich cultural heritage of the country. Leading exponents and dance enthusiasts of almost all classical dance forms of India, including Odissi, Bharatanatyam, Manipuri, Kuchipudi and Kathak, are participating in the five-day classical dance carnival.

 

3. Centre constitutes Apex Committee for the Implementation of the Paris Agreement (AIPA): The Environment Ministry has constituted a high-level inter-ministerial Apex committee for Implementation of Paris Agreement (AIPA) under the chairmanship of the secretary of the ministry. The purpose of AIPA is to generate a coordinated response on climate change matters that ensures India is on track towards meeting its obligations under the Paris Agreement including its Nationally Determined Contributions (NDC). Senior officials from fourteen ministries will serve as members to AIPA who will oversee the progress in implementation of India’s NDC and receive periodic information updates to monitor, review and revisit climate goals to fulfil the requirements of the Paris Agreement.

 

4. Lt Gen Rajeev Chaudhary becomes new Director General of BRO: Lt Gen Rajeev Chaudhary has been appointed as the 27th Director General of Border Roads Organisation (BRO). His appointment is effective from 1st December 2020. Lt Gen Chaudhary succeeds Lt Gen Harpal Singh who has been appointed as the new Engineer-in-Chief of the Indian Army. The BRO is responsible for construction and maintenance of all border roads including those along the frontiers with China and Pakistan.

Note: BRO Headquarters: New Delhi; BRO Founder: Jawaharlal Nehru; BRO Founded: 7 May 1960.

 

5. Govt. announces Rs 900 crore package for COVID-19 Vaccine Development Mission: The Centre has announced the third stimulus package of Rs 900 crore for the Mission COVID Suraksha- The Indian COVID-19 Vaccine Development Mission. This grant will be provided to the Department of Biotechnology (DBT) for Research and Development of Indian COVID-19 vaccines with end-to-end focus from preclinical development through clinical development and manufacturing and regulatory facilitation for deployment. It would consolidate all available and funded resources towards an accelerated product development. The Ministry of Science and Technology said that this will help accelerate development of approximately 5 to 6 vaccine candidates.

 

6. Goa Govt launches One-Time Power Bill Settlement Scheme 2020: Goa Chief Minister Pramod Sawant launched a one-time settlement scheme for power consumers and said that his government accords priority to the interests of the needy and common man. It is the first of its kind scheme introduced in the state, wherein all the category of consumers – active consumers, temporarily disconnected/permanently disconnected – and are sent for revenue recovery cases consumers can avail benefits. There is also no limit on the outstanding dues pending for payments by the consumers to the Electricity Department for availing the scheme. The payment under OTSS 2020 can be made online at the Department’s website www.goaelectricity.gov.in through credit card, debit card, net banking, NEFT/RTGS. All the details to avail the scheme are available at the department’s website.

 

INTERNATIONAL UPDATES:

 

1. India & USA signs MoU on Intellectual Property Cooperation: The Government of India and the United States of America (USA) have signed a Memorandum of Understanding (MoU) in the field of Intellectual Property Cooperation. As a part of this MoU, the two sides will develop Biennial Work Plan to implement the MoU which will include the detailed planning for carrying out of the co-operation activities including the scope of action. The Union Cabinet had approved the signing the MoU for the same on 19 February 2020. The MoU was signed between Dr Guruprasad Mohapatra, Secretary, DPIIT and Mr Andrei Iancu, who represented the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and the United States Patent and Trademark Office (USPTO), Department of Commerce of the United States of America respectively.

 

2. Merriam-Webster and Dictionary.com choose same word of the year: ‘Pandemic’: Two major dictionary publishers Merriam-Webster and Dictionary.com have chosen pandemic as the 2020 word of the year. Merriam-Webster said its decision was based on the “extremely high numbers” of people who had looked up pandemic in its online dictionary in 2020. The word showed a major year-over-year increase in internet traffic. Dictionary.com research editor John Kelly told the AP that searches for the word have remained high throughout the year. For about half of the year, the company said pandemic was in the top 10 percent of all search requests.

 

OTHER UPDATES:

 

SPORTS

 

1. England’s Dawid Malan achieves highest-ever rating points in T20I: Dawid Malan of England has attained the highest-ever rating points for batsmen in the MRF Tyres ICC Men’s T20I Player Rankings. The 33-year-old Malan has reached 915 points, and thus became the first player to cross the 900-point mark in the format. Before him, Australia’s Aaron Finch reached exactly 900 points in July 2018. Babar Azam (871) of Pakistan and Aaron Finch (835) of Australia is second and third in the list. India’s KL Rahul is at fourth position, while Virat Kolhi’s rank has dropped to 9th in the list.

 

BANKING AND FINANCE

 

1. RBI Monetary Policy: Policy Rate unchanged: The six-member Monetary Policy Committee of the Reserve Bank of India (RBI), headed by Governor Shaktikanta Das, has decided to maintain the status quo on policy rate amid sticky rate of inflation. The MPC committee members voted unanimously in favour of the decision.

The key decisions taken in the Monetary Policy Committee meeting are:

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

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

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

RBI Monetary Policy Highlights & Key Decisions:

(1) Governor Shaktikanta Das proposes to put in place criteria for NBFC dividend distribution, introduces risk-based audit in large NBFCs & co-op banks.

(2) RTGS will soon be made 24X7 in the next few days.

(3) CPI inflation is seen at 6.8% for Q3 and 5.8% for Q4.

(4) Real GDP growth for FY21 is projected at -7.5%. Q3 FY-21 GDP is seen at +0.1% while Q4 FY-21 GDP is seen at +0.7%.

(5) RBI proposes to enhance limits for contactless card payments from ₹2000 to ₹5000 from Jan 2021.

(6) On-tap Targeted Long Term Repo Operations (TLTRO) will be expanded to cover other stressed sectors in tandem with Emergency Credit Line Guarantee Scheme (ECLGS) scheme.

Note: About Monetary policy: Monetary Policy is the central bank’s policy which uses the monetary instruments like Repo rate, Reverse repo rate, Liquidity Adjustment Facility and many others, to achieve the goals stated in the Act. In India, the Reserve Bank of India (RBI) has been given the responsibility of conducting monetary policy as mandated under the Reserve Bank of India Act, 1934. The composition of the Monetary Policy Committee is as follows:

(a) Governor of the Reserve Bank of India – Chairperson, ex officio: Shri Shaktikanta Das.

(b) Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy– Member, ex officio: Dr Michael Debabrata Patra.

(c)One officer of the Reserve Bank of India to be nominated by the Central Board – Member, ex officio: Dr Mridul K. Saggar.

(d) A professor at the Mumbai-based Indira Gandhi Institute of Developmental Research: Prof. Ashima Goyal.

(e) A professor of finance at the Indian Institute of Management in Ahmedabad: Prof. Jayanth R Varma.

(f) An agricultural economist and a senior adviser with the National Council of Applied Economic Research in New Delhi: Dr Shashanka Bhide.

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

 

2. Yes Bank launches tailor-made premium banking services to customers: Yes Bank has re-energised YES Premia, unveiling a premium banking program that offers personalized solutions focused on the particular needs of key consumer segments – from small business owners to salaried professionals and senior citizens. Yes Bank will celebrate the launch of this enhanced program during ‘Truly Yours’ Week, from December 1 – 7, 2020 throughout the bank’s network of branches across India, with several customercentric programs and partnered activations through dealer, OEM and bancassurance partners. YES Premia with its advanced technology and innovation capabilities as a basis to drive a significant role in the Retail Banking business, demonstrates the bank’s determination towards creating a truly differentiated bank.

 

AWARDS AND HONOURS

 

1. RIL Tops Fortune 500 List of Indian Companies, IOC at Second Spot: Oil-to-telecom conglomerate Reliance Industries Ltd topped the Fortune 500 list of Indian companies, Fortune India announced. The list was published by Fortune India, which is part of the Kolkata-based RP Sanjiv Goenka Group. Indian Oil Corporation Ltd (IOC), the nation’s biggest oil firm, bagged the second spot, followed by Oil and Natural Gas Corporation (ONGC) at the third. The country’s largest lender State Bank of India was in the fourth position, while India’s second-biggest fuel retailer Bharat Petroleum Corporation Ltd (BPCL) took the fifth spot. Tata Motors was ranked sixth, followed by gold refiner Rajesh Exports at the seventh spot. India’s largest IT services firm Tata Consultancy Services took the eighth spot, while ICICI Bank was at ninth, and Larsen and Toubro at tenth.

 

OBITUARIES

 

1. Former French President Valéry Giscard d’Estaing passes away: The former President of France, Valery Giscard d’Estaing has passed away at the age of 94, from the complications of coronavirus. He had served as the third president of the Republic of France from 1974 to 1981. He was born on 2nd February 1926 in Koblenz, French-occupied Germany (now Germany). Giscard founded the Union for French Democracy, a centre-right political party in 1978 to counter the Gaullist preponderance over the political right in France. He lowered the voting age from 21 to 18 and he also liberalised the laws on divorce, abortion and contraception during his tenure as the President. 

Daily GK Updates – 5th Dec, 2020

 

NATIONAL UPDATES:

 

1. India invites UK’s Johnson as 2021 Republic Day chief guest: United Kingdom Prime Minister, Boris Johnson is expected to be the chief guest at 2021 Republic day with Prime Minister Narendra Modi formally inviting him. Johnson, on his part, has invited PM Modi to the G-7 summit in the United Kingdom next year. The last British prime minister at the Republic Day parade was John Major in 1993.

 

2. Karnataka’s 1st 11.5 megawatt power plant being set up at Bidadi: In Karnataka, Chief Minister, BS Yediyurappa laid the foundation stone for a 11.5 megawatt power plant based on municipal waste in Bidadi, Bengaluru. It is first of its kind power plant in the state being set up by the Karnataka Power Corporation Limited (KPCL) and will help in converting 600 tonnes of municipal waste into 11.5-megawatt energy. This power plant will add 80.59 million units of power to the existing power grid. The power plant project is being constructed at a cost of Rs. 260 crore and is likely to be operational by 2022.

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

 

3. Yogi Adityanath rings bell at BSE for listing bond of LMC: Uttar Pradesh Chief Minister, Yogi Adityanath rang the bell at the Bombay Stock Exchange (BSE), to mark the listing of bonds of Lucknow Municipal Corporation on the exchange. The bonds of LMC were launched on November 13, with a coupon rate of 8.5 per cent and had tenure of 10 years. The issuance had garnered 4.5 times subscription.

About Lucknow Municipal Corporation Bond: Lucknow is the 9th city in India and first from UP, to have raised municipal bonds for fundraising. It is also the first city to issue municipal bond after the launch of Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme. Lucknow Municipal Corporation is the first civic body from North India to issue a bond on BSE. The funds raised through the bond will be invested in various infrastructure schemes, being implemented under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme, in Lucknow. Ghaziabad will be the next city of the state to issue a municipal bond and it will be followed by Pragyaraj, Varanasi, Agra and Kanpur.

 

4. IOCL launches India’s first 100 Octane Premium Petrol: Union Minister for Petroleum and Natural Gas and Steel, Dharmendra Pradhan launched India’s first indigenously developed ‘100 Octane premium petrol’ through video conferencing. Octane ratings are measures of fuel stability that increases engine efficiency. The high octane premium grade petrol will be marketed under the brand ‘XP-100’. It has been developed by Indian Oil Corporation Limited (IOCL) at its Mathura refinery in Uttar Pradesh.

Availability of “XP-100”: XP-100 will be made available in a phased manner across the country and in the first phase, it will be made available in 10 cities. The cities are Delhi, Gurgaon, Noida, Agra, Jaipur, Chandigarh, Ludhiana, Mumbai, Pune and Ahmedabad. With this launch, India has joined a select league of nations globally that have such superior quality fuel.  Till date, such quality of fuel is available only in six countries including USA, Germany, Greece, Indonesia, Malaysia and Israel.

Note: Indian Oil Corporation Limited Chairperson: Shrikant Madhav Vaidya; Indian Oil Corporation Limited Headquarters: New Delhi; Indian Oil Corporation Limited Founded: 30 June 1959.

 

5. AR Rahman roped in as ‘BAFTA Breakthrough’ India ambassador: Oscar and Grammy-winning Indian composer, AR Rahman has been roped in as ambassador of the BAFTA Breakthrough initiative in India. In 2020, BAFTA will identify and support up to five exceptional talents working in film, games or television in India.

About BAFTA: The BAFTA Breakthrough initiative, is part of the Academy’s year-long programme to support new talent, coming up in the film, games and television industries in the UK, China, India and the US and gives them access to unique career development and mentoring opportunities. It is a unique opportunity for promising artists to be supported by a world-renowned organisation, including connections with other talented creatives across the world and being mentored by BAFTA-winners and nominees.

 

INTERNATIONAL UPDATES:

 

1. New Zealand declares climate emergency: New Zealand has declared a “climate emergency” and promised to make its public sector carbon neutral by 2025. New Zealand now joins 32 other countries that have declared a climate emergency. They include Japan, Canada, France and the United Kingdom. Prime Minister of New Zealand, Jacinda Ardern told legislators that the climate emergency declaration was “an acknowledgement of the next generation – an acknowledgement of the burden that they will carry if we do not get this right and do not take action now”.

Note: Prime minister of New Zealand: Jacinda Ardern; Capital of New Zealand: Wellington; Currency of New Zealand: New Zealand dollar.

 

2. India ranked 8th in Global Terrorism Index 2020: In the Global Terrorism Index (GTI) 2020, India has been ranked at 8th spot globally in the list of countries most affected by terrorism in 2019. The GTI score of India is 7.353 out of 10. India recorded 277 Deaths, 439 Injuries & 558 Incidents due to Terrorism in 2019. Regionally, South Asia was the most impacted region by terrorism in 2019, recording more deaths than any other region. Also, globally the deaths caused due to terrorism fell by 15 per cent to 13,286 in 2019 over 2018.

Regarding India: Jammu and Kashmir was the most affected Region due to terrorism, it reported 165 attacks and 103 deaths. The three most active groups in Kashmir was Jaish-e-Mohammad (JeM), Hizbul Mujahideen & Lashkar-e-Taiba (LeT). Chhattisgarh was the second most affected region in India with 85 attacks and 53 deaths all from Maoist Extremists.

Countries Most Affected by Terrorism: With a score of 9.592, Afghanistan has topped the index as the worst terror impacted nation among the 163 countries. It is followed by Iraq (8.682) and Nigeria (8.314) at second and third place respectively.

Countries Least Affected by Terrorism: Qatar (0.014) took the 133rd Rank followed by Uzbekistan (0.010) in the 134th Rank and around 29 Countries (score of 0.000) took the 135th Rank which means they are Least Affected Countries or Face No Impact due to Terrorism.

About the Global Terrorism Index: The Global Terrorism Index is published annually by the Institute for Economics and Peace (IEP), headquartered in Sydney, Australia, to measure the impact of terrorism on the countries.

 

3. International Volunteer Day: 5th December: The International Volunteer Day (IVD), also called International Volunteer Day for Economic and Social Development is observed on 5 December every year. IVD 2020 Theme: “Together We Can Through Volunteering”. The IVD international observance was mandated by the UN General Assembly in 1985. The purpose of the day to celebrate the efforts of volunteers and organizations and offer the opportunity to promote volunteerism, encourage governments to support volunteer efforts and recognize volunteer contributions to the achievement of the Sustainable Development Goals (SDGs) at local, national and international levels.

 

4. World Soil Day: 5th December: The World Soil Day is celebrated every year on December 5 to raise awareness of the importance of soil quality for human well-being, food security and ecosystems. The Food and Agriculture Organization (FAO) campaign “Keep soil alive, protect soil biodiversity” aims to raise awareness of the importance of sustaining healthy ecosystems and human well-being. The date of 5 December was chosen because it corresponds with the official birthday of the late H.M. King Bhumibol Adulyadej, King of Thailand, who was one of the main proponents of this initiative.

An international day to celebrate Soil was recommended by the International Union of Soil Sciences (IUSS) in 2002. Under the leadership of the Kingdom of Thailand and within the framework of the Global Soil Partnership, FAO has supported the formal establishment of WSD as a global awareness-raising platform. The FAO Conference unanimously endorsed World Soil Day in June 2013 and requested its official adoption at the 68th UN General Assembly. In December 2013, the UN General Assembly responded by designating 5 December 2014 as the first official World Soil Day.

Note: Food and Agriculture Organisation Headquarters: Rome, Italy; Food and Agriculture Organisation Head: Qu Dongyu; Food and Agriculture Organisation Founded: 16 October 1945.

International Union of Soil Sciences President: Takashi Kosaki (Japan); International Union of Soil Sciences Founded: 1924; International Union of Soil Sciences Headquarters: Vienna, Austria.

 

OTHER UPDATES:

 

SPORTS

 

1. England’s Dawid Malan achieves highest-ever rating points in T20I history: England’s Dawid Malan has attained the highest-ever rating points for batsmen in the International Cricket Council (ICC) Men’s T20I Player Rankings after a terrific run saw him top the series aggregate with a total of 173 runs and help England thrash South Africa 3-0. The 33-year-old left-hander has reached 915 points, the first to cross the 900-point mark after Australian Aaron Finch’s 900-point achievement in July 2018. Malan now enjoys a 44-point lead over Pakistan’s Babar Azam, whom he overtook to become number one in September this year. Malan’s player of the series performance included a match-winning 99 not out in the final match and helped England leapfrog Australia to take top position in the MRF Tyres ICC Men’s T20I Team Rankings.

 

BANKING AND FINANCE

 

1. RBI orders HDFC Bank to halt its digital launches: The Reserve Bank of India (RBI) has issued an order to HDFC Bank with regard to certain incidents of outages in the internet banking, mobile banking and payment utilities of the lender over the past 2 years, the private sector bank informed to the stock exchanges. The RBI also noted the recent outages in the HDFC Bank’s internet banking and payment system on November 21, 2020, owing to a power failure in the primary data centre. The RBI vide Order has advised the Bank to temporarily stop:

(a) All launches of the Digital Business generating activities planned under its program ‐ Digital 2.0 (to be launched) and other proposed business generating IT applications.

(b) Sourcing of new credit card customers.

(c) In addition to this, the order also states that HDFC Bank’s board should examine the lapses and fix accountability.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: Sashidhar Jagdishan (Succeeds Aditya Puri); The tagline of HDFC Bank: We understand your world.

 

2. ICICI Lombard gets in-principle approval from IRDAI approval to acquire Bharti AXA General Insurance: Insurance Regulator Insurance Regulatory and Development Authority of India(Irdai) gave in-principle approval to proposed arrangement between ICICI Lombard General Insurance Co. Ltd. and Bharti AXA General Insurance Co. Ltd., according to an exchange filing. The IRDAI mentioned that following the demerge, ICICI will issue 1.82 crore equity shares to Bharti General Ventures Private Limited and 1.75 crore equity shares to Societe Beaujon. Currently Bharti Enterprises owns 51% in Bharti AXA General Insurance, while French insurer AXA has 49%. With the deal with ICICI Lombard in place, Bharti and AXA will be public shareholders in the combined entity.

 

BUSINESS AND ECONOMY

 

1. Highest FDI inflows to India coming from Singapore and USA: The U.S. has emerged as the second biggest source of foreign direct investment (FDI) into India after Singapore, replacing Mauritius, during the first half of the current financial year, according to data of the Commerce and Industry Ministry. During April-September 2020, India attracted FDI worth $7.12 billion from the U.S. and $2 billion from Mauritius, which slipped to fourth position, the DPIIT (Department for Promotion of Industry and Internal Trade) data showed. Singapore with $8.30 billion foreign inflows continued to be the top source of FDI for India in April-September 2020-21. The country has received $2.1 billion inflows from Cayman Isands. The islands was followed by Netherlands ($1.5 billion), U.K. ($1.35 billion), France ($1.13 billion), Japan ($653 million) , Germany ($202 million), and Cyprus ($48 million).

 

OBITUARIES

 

1. Former Pak PM Zafarullah Jamali passes away: Former Pakistan prime minister Mir Zafarullah Khan Jamali passed away at a hospital in Rawalpindi at the age of 76. Jamali, the country’s first and only elected prime minister from Balochistan, had served during the military regime of Gen Pervez Musharraf. However, Gen Musharraf sought his resignation in 2004 and he was replaced by Shaukat Aziz. He won the 2013 general elections as an independent, but later joined the PML-N and used to sit on the treasury benches in the previous assembly.