Daily GK Updates – 14th Dec, 2020

NATIONAL UPDATES:

 

1. 5th India Water Impact Summit begins: The 5th India Water Impact Summit (IWIS) kicked off on 10th December 2020 virtually. The event was inaugurated by Ratan Lal Kataria, Minister of State for Jal Shakti. The objective of IWIS 2020 is Comprehensive Analysis and Holistic Management of Rivers and Water Bodies.

About IWIS 2020: IWIS 2020 has been organised by the National Mission for Clean Ganga (NMCG) and the Centre for Ganga River Basin Management and Studies (cGanga) to discuss water-related issues and steps taken to save the planet’s most precious resource. The theme of IWIS 2020 is Arth Ganga: River Conservation Synchronised Development. The conference will have a comprehensive analysis and review of river rejuvenation and local river. It will also have deliberation about Arth Ganga, i.e. how river conservation synchronised development can take place.

 

2. BSNL launches World’s 1st Satellite-based Narrowband-IoT Network: Bharat Sanchar Nigam Limited (BSNL) has partnered with Skylotech India (Skylo), a global machine connectivity solutions company, to launch satellite-based narrow band-Internet of things (NB-IoT). This initiative is the world’s first satellite-based NB-IoT network.

The new indigenous IoT solution has been developed by Skylo and will connect with BSNLs satellite- ground infrastructure to provide PAN-India coverage, including Indian seas. To begin with, the solution will be extended to fishermen, farmers, construction, mining and logistics enterprises. The solution is in line with BSNL’s vision to leverage technology to provide affordable and innovative telecom services and products across India’s core sectors.

Note: Bharat Sanchar Nigam Limited Chairman & MD: Pravin Kumar Purwar; Bharat Sanchar Nigam Limited Headquarters: New Delhi.

 

3. Lakshadweep becomes India’s 1st UT to be declared 100% Organic: The Ministry of Agriculture has declared Lakshadweep as India’s first Union Territory to become 100 per cent organic. All farming activity in the UT is carried out without the use of synthetic fertilisers and pesticides, which provides access to safer food choices and making agriculture a more environment-friendly activity. Lakshadweep is second only to Sikkim, which was India’s first state to be declared completely organic. This comes after the UT received proper certifications and declarations under the Centre’s Paramparagat Krishi Vikas Yojana (organic farming improvement programme).

Note: Lakshadweep Island is the smallest Union Territory in India 36 Islands. Includes: 12 atolls, 3 reefs, 5 submerged banks, 10 inhabited islands.

Lakshadweep Capital: Kavaratti; Lakshadweep Administrator: Praful Khoda Patel.

 

4. National Energy Conservation Day: 14th December: The National Energy Conservation Day is celebrated every year on 14 December by Bureau of Energy Efficiency (BEE), under Ministry of Power. The day is celebrated to raise awareness among the general public about the importance of energy conversation and energy efficiency, as well as holistic development for overall effort towards climate change mitigation.

About the Bureau of Energy Efficiency: Bureau of Energy Efficiency is a constitutional body that comes under the Government of India and helps in the development of policies and strategies in order to reduce energy use. The Energy Conservation Act in India was executed by the Bureau of Energy Efficiency (BEE) in the year 2001.

Note: Minister of State (Independent Charge) of the Ministry of Power: Raj Kumar Singh.

 

INTERNATIONAL UPDATES:

 

1. ADB launches $9 bn “APVAX” for Developing Countries: The Manila-based Asian Development Bank (ADB) has launched an initiative called, the Asia Pacific Vaccine Access Facility (APVAX), for its developing member countries. The bank has allocated USD 9 billion for APVAX.

About Asia Pacific Vaccine Access Facility: APVAX will play a critical role in helping our developing members meet these challenges, overcome the pandemic, and focus on economic recovery. Through APVAX, the ADB will offer rapid and equitable support to its developing members, who need financing to procure vaccines as well as offer appropriate plans and knowledge to be able to safely, equitably and efficiently manage and deliver the COVID-19 vaccine.

 

2. Joe Biden, Kamala Harris jointly named Time’s ‘Person of the Year’ 2020: US President-elect, Joe Biden and Vice President-elect Kamala Harris have been jointly named Time magazine’s 2020 “Person of the Year”. The TIME magazine releases the annual list since 1927, to recognise a person or organisation who affected the news or impacted the country and world the most, for better or worse, during the calendar year.

Apart from this, Time magazine has named the Korean pop group BTS as its Entertainer of the Year, and basketball star LeBron James as Athlete of the Year.  Zoom founder Eric Yuan was aptly named Businessperson of the Year, as the video communications company has come to define the way millions have connected with each other during the pandemic.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBL Bank, ICICI Prudential join hands for Bancassurance partnership: RBL Bank and ICICI Prudential have joined hands under a bancassurance partnership. 398 RBL Bank branches across 28 states will distribute ICICI Prudential Life’s protection and savings products. The protection products of ICICI Prudential Life will help the bank’s customers to develop a strong financial plan and its long-term savings products will help the customers of the bank to achieve their financial goals. About the Partnership:

(1) This partnership will allow more than 8.7 million customers of RBL Bank to access and purchase ICICI Prudential Life’s customer-centric protection and long-term savings products.

(2) It provides financial security to the customers and their families through life insurance cover.

(3) It will deepen and strengthen the multi-channel distribution network of ICICI Prudential Life.

(4) It will also accelerate the value creation for the bank and ICICI Prudential Life.

What is Bancassurance: Bancassurance means selling insurance products through banks. It is an arrangement between a bank and an insurance company, wherein the bank sells the tied insurance company’s insurance products to its clients.

Note: RBL Bank Ltd Incorporated: 1943, under the Indian Companies Act, 1913; RBL Bank Ltd MD and CEO: Vishwavir Ahuja; RBL Bank Ltd Headquarters: Mumbai, Maharashtra; RBL Bank Ltd Tagline: Apno Ka Bank.

ICICI Prudential Life Insurance Ltd Commenced Operations: 2001; ICICI Prudential Life Insurance Ltd HeadOffice: Mumbai, Maharashtra; ICICI Prudential Life Insurance Ltd MD & CEO: N S Kannan.

 

2. Ujjivan SFB launches neighbourhood banking channel – Money Mitra: Ujjivan Small Finance Bank said it has introduced a new channel to make banking services accessible to customers in their neighbourhood. The channel- Money Mitra – will facilitate entrepreneurs running local businesses like Kirana, medical stores and insurance agencies to offer retail banking solutions to the bank”s customers exclusively. In these outlets, the lender”s customers can make a deposit, withdraw money, pay loan EMI and perform fund transfer without having to travel to branches.

 

3. ICICI Lombard and PLUM partner to provide technologically powered group health insurance products: ICICI Lombard General Insurance announced that it has tied up with Plum, an employee health insurance startup, to co-create technologically backed group health insurance products. The penetration of health insurance across India is abysmally low, with 0.29 per cent of GDP being spent on the health sector. There is an enormous unmet demand for healthcare, with only 2% of the total healthcare expenditure being currently covered by insurance providers.

 

BUSINESS AND ECONOMY

 

1. Mastercard, CII come together to help over 3 lakh MSMEs digitise their businesses: Mastercard, the National Institute for Micro, Small & Medium Enterprises (ni-msme) and the Confederation of Indian Industry (CII) have partnered to launch Digital Saksham, a capacity building initiative to drive awareness around digitization for MSMEs in the country. Digital Saksham is an expansive program designed to strengthen the competitiveness of MSMEs through building their digital know-how and acceptance. The program will involve three key stages over three years from the launch, including outreach, capacity building and adoption of digital tools that will help small businesses.

 

AWARDS AND HONOURS

 

1. UNESCO launches Bangabandhu award on creative economy: UNESCO has launched an international award named after Bangabandhu Sheikh Mujibur Rahman following Bangladesh’s proposal. The UN agency’s executive board unanimously adopted the proposal on UNESCO-Bangladesh Bangabandhu Sheikh Mujibur Rahman International Prize for the “Creative Economy” in its 210th session. This is the first time a UN agency launched an award named after Bangabandhu.

About the Prize: The award will create the opportunity to spread Bangabandhu’s ideals across the world and inspire the global cultural activists to contribute to the field of the creative economy. It will also play a “special” role in branding and image-building of Bangladesh. The award will be given every two years with $50,000 prize money – three times in six years. The renewal of the award will be discussed later. The first UNESCO-Bangabandhu award is set to be given in the 41st session of the UNESCO’s general conference in November 2021. Bangladesh proposed the award in August 2019.

About the UNESCO awards: The UNESCO launches awards in recognition of the contribution of leaders in several fields, such as education, culture, science and technology, with the financial help of the member states.  It had launched 22 awards named after noted individuals or organisations.

 

OBITUARIES

 

1. Former Uruguay president Tabare Vazquez passes away: Former Uruguayan President Tabare Vazquez died in Montevideo at the age of 80 after suffering from lung cancer. The center-left politician and oncologist was president of Uruguay twice in 2005-2010 and 2015-2020. Vazquez, who interchanged terms with Jose Mujica since Uruguay’s constitution bans presidents from serving consecutive terms, presided over the legalization of the state-controlled production, distribution and sale of cannabis.

 

2. Veteran Hindi writer Madhukar Gangadhar passes away: Veteran Hindi writer Madhukar Gangadhar passed away in a hospital in the National Capital. He was 88 years old.  Mr. Gangadhar had worked at Patna Akashwani and later also served as the director, AIR Allahabad.He also worked in the capacity of Deputy Director General (DDG), AIR at New Delhi. After serving for 39 years in All India Radio (AIR) he became an independent writer based in Delhi. ‘Motiyo Wale Hath’, ‘Hirna Ki Aankhen’ are some of his most well known works.

 

3. Popular TV actress Divya Bhatnagar passes away: Popular face in Indian TV Divya Bhatnagar passed away following Covid 19 complications. She was 36. Bhatnagar had acted in shows including “Udaan”, “Silsila Pyaar Ka”, “Sasural Genda Phool”, “Sawaare Sabke Sapne Preeto”, “Vish”, “Yeh Rishta Kya Kehlata Hai”among others.

Daily GK Updates – 13th Dec, 2020

 

NATIONAL UPDATES:

 

1. Union Cabinet approves historic PM-WANI Scheme: The Union Cabinet has approved a scheme called the Prime Minister’s Wi-Fi Access Network Interface (PM-WANI), to improve wireless connectivity and pave the way for free wireless internet in public spaces across the country. The scheme will allow anyone, from an individual in a residential area to a Kirana shop owner to a tea shop vendor, to set up public Wi-Fi hotspot and deliver wifi services. It aims to promote the growth of public wi-fi networks in the country. PM-WANI scheme will be operated by the following players:

(1) Public Data Office (PDO): It will establish, maintain, and operate only WANI compliant Wi-Fi Access Points and deliver broadband services to subscribers. (tea shop, or Kirana shop, individual or any organisation.)

(2) Public Data Office Aggregator (PDOA): It will look after functions relating to Authorization and Accounting of PDOs.

(3) App Provider: It will develop an App to register users and discover WANI compliant Wi-Fi hotspots in the nearby area and display the same within the App for accessing the internet service.

(4) Central Registry: It will maintain the details of App Providers, PDOAs, and PDOs. To begin with, the Central Registry will be maintained by C-DoT.

Note: Minister of Electronics and Information Technology: Ravi Shankar Prasad

 

2. PM Narendra Modi addresses International Bharati Festival 2020 virtually: Prime Minister Narendra Modi has addressed the International Bharathi Festival 2020 through video conferencing. The festival was organised by Vanavil Cultural Centre in Chennai to celebrate the 138th birth anniversary of Mahakavi Subramanya Bharathi, an eminent writer, poet and journalist from Tamil Nadu. Prime Minister Narendra Modi also conferred the 2020 Bharathi Award to the noted writer Seeni Viswanathan, who is credited with compiling the voluminous works of Bharathi in chronological order. The Bharathi Award is conferred every year since 1994, to eminent persons who have done laudable service in any field of social relevance.

 

3. West Bengal CM announces ‘Swasthya Sathi’ health scheme: West Bengal Chief Minister Mamata Banerjee recently extended the Swasthya Sathi health insurance scheme to cover the entire population of the state. The scheme was launched by Banerjee in 2016. It is a basic health cover for secondary and tertiary care up to Rs five lakh per annum per family. It is quite popular among rural and economically deprived sections of the state’s population. Under the scheme, a smart card and is being issued in the name of a female family member.

 

4. Uday Shankar named FICCI President for 2020-21: Media executive Uday Shankar has been named as the president-elect of industry chamber Ficci for 2020-21. Shankar will be succeeding Sangita Reddy, president of Ficci and joint managing director, Apollo Hospitals Group, during Ficci’s 93rd annual general meeting. Presently Shankar is the president of The Walt Disney Company for Asia Pacific and the chairman of Star and Disney India.

 

5. Yogi launches Mera Covid Kendra in UP: Uttar Pradesh Chief Minister Yogi Adityanath launched COVID-19 testing centre detection app named the Mera Covid Kendra app which will help people get information about nearby testing labs.  ‘Mera COVID Kendra’ app which will help people in accessing public and private COVID testing labs available within 5 km of their location. All the data like map, centre timing, test type and other details of the testing labs are present in the map. This mobile application can be downloaded from Google Play Store.

 

INTERNATIONAL UPDATES:

 

1. Romanian PM Ludovic Orban resigns: The Prime Minister of Romania, Ludovic Orban has stepped down from his post after his ruling National Liberal Party (PNL) lost in 2020 parliamentary election. Following this, Romanian President Klaus Iohannis appointed the Minister of National Defense, Nicolae-Ionel Ciuca as the interim prime minister of the country.

Note: Romania Capital: Bucharest; Romania Currency: Romanian leu; Romania President: Klaus Iohannis.

 

2. World Economic Forum 2021 to be held in Singapore: The World Economic Forum (WEF) has decided to host its 2021 annual meeting in Singapore, which earlier was scheduled to take place in Lucerne-Burgenstock, Switzerland from 13-16 May 2021. The decision to shift the annual forum from Switzerland has been taken in view of the Covid-19 situation in Europe. This would be the second time since its inception in 1971 that the forum will be held outside Switzerland. In 2002, the forum was held in New York to show solidarity with the American people in the aftermath of 9/11. The meeting is generally held in Davos, Switzerland, but amid covid, the meeting was first shifted to Lucerne-Burgenstock, Switzerland in October 2020. Now again the venue has been shifted to Singapore. It would return to Davos, Switzerland, in 2022.

Note: World Economic Forum Headquarters: Cologny, Switzerland; World Economic Forum Founder: Klaus Schwab; World Economic Forum Founded: January 1971.

 

OTHER UPDATES:

 

SPORTS

 

1. IOC gives Olympic status to Breakdancing: The International Olympic Committee (IOC) has registered ‘Breakdancing’ as the newest entry into Olympics and an official Olympic sport, with the aim to attract a new and younger audience. Breakdancing will be known as ‘Breaking’ in Olympics event. Breaking will make its Olympic Games debut at the 2024 Paris Games (2024 Summer Olympics). It must be remembered that three new sports, skateboarding, sport climbing, and surfing, will make their Olympic debuts at the Tokyo Games 2021 (earlier 2020 Summer Olympics).

Note: International Olympic Committee Headquarters: Lausanne, Switzerland; International Olympic Committee President: Thomas Bach; International Olympic Committee Founded: 23 June 1894 (Paris, France).

 

2. Bajrang Punia, Elavenil Valarivan bag Sportsperson of the Year awards: Indian athletes, Bajrang Punia (Freestyle-Wrestling) and Elavenil Valarivan (Shooting), bagged the top honours at the virtually held FICCI India Sports Awards 2020 on the back of the 10th Global Sports Summit. The two athletes, who have had an impressive 2019-20 season, won the Sportsperson of the Year awards in their respective categories. Here is the list of Winner in different Categories:

Award	Personality
Sportsperson of the Year (Female)	Elavenil Valarivan
Sportsperson of the Year (Male)	Bajrang Punia
Best State Promoting Sports Award	Madhya Pradesh
Best Company Promoting Sports (Private Sector)	Anil Kumble

About the award: The sports awards are an attempt by industry body, Federation of Indian Commerce and Industry (FICCI) to acknowledge and recognise the contribution of sportspersons and various stakeholders who deliver excellent results throughout the year.

 

BANKING AND FINANCE

 

1. PayNearby partners NPCI and Yes Bank to launch retailer shopping card: PayNearby, India’s largest hyperlocal fintech startup has partnered with YES Bank and National Payments Corporation of India (NPCI) to launch PayNearby Shopping Card, enabling its retail partners to derive maximum benefits of digital commerce in the mass market category. The new service will allow PayNearby retailers to avail a range of digital services in a secure, risk-free mode. The retailers can avail of services such as e-learning, e-commerce, online gaming, monthly recharges and utility payments, online music, and videos. The launch of the PayNearby shopping card is powered by RuPay and is targeted for enabling a mass-market adoption. This will likely allow for cash digitization options at the grass-root levels.

 

2. KVG Bank launches OD facility for farmers: The Dharwad-headquartered regional rural bank, Karnataka Vikas Grameen Bank (KVGB), has launched an overdraft (OD) facility for farmers. The farmers are provided with an OD facility based on the value of the land. The limit is capped to a maximum of ₹1.5 lakh per acre to irrigated lands and ₹1 lakh per acre to dry land. The facility can be used for working capital requirements such as maintenance of machinery and equipment, repair and replacement of machinery, agricultural allied activities and even for the repayment of private loans availed for personal use.

 

BUSINESS AND ECONOMY

 

1. ADB Projects GDP of India at -8% in 2020: The Asian Development Bank (ADB) has projected India’s economy to contract 8 per cent in 2020, as against (-)9.0 per cent previously forecast. In its latest Asian Development Outlook report released on 10 December 2020, ADB also expects the GDP of India to bounce back with growth of 8.0 per cent in 2021.

 

AWARDS AND HONOURS

 

1. Carolina Araujo awarded 2020 Ramanujan Prize for Young Mathematicians: The year 2020 Ramanujan Prize for Young Mathematicians was awarded to Dr Carolina Araujo, Mathematician from the Institute for Pure and Applied Mathematics (IMPA), Rio de Janeiro, Brazil. Her work area focuses on birational geometry, which aims to classify and describe the structure of algebraic varieties. The prize is awarded annually to a researcher from a developing country funded by the Department of Science and Technology of the Government of India in association with ICTP (International Centre for Theoretical Physics), and the International Mathematical Union (IMU) was given for her outstanding work in algebraic geometry.

About Carolina Araujo: Dr. Araujo, who is Vice President of the Committee for Women in Mathematics at the International Mathematical Union, is the first non-Indian women mathematician to receive this prize and will be a role model for all women around the world.

Note: International Mathematical Union President: Carlos Kenig; International Mathematical Union Headquarters location: Berlin, Germany; International Mathematical Union Parent organization: International Science Council; International Mathematical Union Founded: 1920.

 

2. Sonu Sood tops 50 Asian Celebrities in The World list 2020: Indian actor, Sonu Sood has topped the first-of-its-kind ’50 Asian Celebrities In The World’ 2020 list, published by UK based Eastern Eye newspaper. The 47-year-old talented Bollywood star has been honoured for his inspiring philanthropic work throughout the Covid-19 pandemic, especially helping migrant workers reach their hometowns. Sonu Sood beat global stars, including from Hollywood, the music industry, television, literature and social media, to be named the number one Asian celebrity on the planet for 2020. Canadian YouTuber, social media star, comedian and TV personality Lilly Singh came in second for her “pathbreaking journey, remarkable output and entertaining audiences most when they needed it”.

Other Indian celebrities in the list: Indian singer Armaan Malik came in fifth for his immense musical output that included barrier-breaking English language songs. Sixth-placed Priyanka Chopra Jonas remains the most famous Indian star in the world, while the rest of the top 10 includes pan-Indian star Prabhas (7).

About the top 50 list: The top 50 list is based on those who did good work, made a positive impact, broke boundaries, shattered glass ceilings, gave hope, did philanthropic deeds or were just inspiring in their own unique way.

 

OBITUARIES

 

1. VSSC former director Dr S Ramakrishnan passes away: Vikram Sarabhai Space Centre’s former director S Ramakrishnan died in Thiruvananthapuram. He was 71. A recipient of Padma Shri in 2003, Ramakrishnan served as Liquid Propulsion Systems Centre director from June 2010 to December 2012 and as VSSC director from January 2013 to June 2014.He also served as Project Director of PSLV, GSLV Mk-III and Director (Projects). He had received ASI Award-1998, Dr. Biren Roy Award-1999 from Aeronautical Society of India, and ISRO Performance Excellence Award-2006. He held a masters degree in Aerospace Propulsion from IIT, Madras with first rank in the year 1972.

Daily GK Updates – 12th Dec, 2020

 

NATIONAL UPDATES:

 

1. Cabinet approves Atmanirbhar Bharat Rojgar Yojana: The Union Cabinet has given its approval for Atmanirbhar Bharat Rojgar Yojana (ABRY) to boost employment in the formal sector by encouraging the businesses to do fresh hiring amid the pandemic. ABRY will also incentivize the creation of new employment opportunities under Atmanirbhar Bharat Package 3.0. About the Yojana:

(1) The Cabinet has approved an expenditure of ₹ 1,584 crores for the current financial year and ₹ 22,810 crores for the entire scheme period from 2020 to 2023.

(2) The scheme will provide subsidy for two years in respect of new employees engaged on or after October 1, 2020, and up to June 30, 2021.

(3) The government will pay both 12 per cent employees’ contribution and 12 per cent employers’ contribution i.e. 24 per cent of wages towards EPF in respect of new employees in establishments employing up to 1,000 employees for two years.

(4) It will pay only employees’ share of EPF contribution i.e. 12 per cent of wages in respect of new employees in establishments employing more than 1,000 employees for two years.

Eligibility: (1) An employee drawing monthly wage of less than ₹ 15,000 who was not working in any establishment registered with the Employees’ Provident Fund Organisation (EPFO) before October 1, 2020, and did not have a Universal Account Number (UAN) or EPF Member account number prior to October 1, 2020, will be eligible for the benefit.

(2) Any EPF member possessing Universal Account Number (UAN) drawing monthly wage of less than ₹ 15,000 who made exit from employment during COVID pandemic from March 1, 2020, to September 30, 2020, and did not join employment in any EPF covered establishment up to September 30, 2020 will also be eligible to avail benefit.

 

2. National Centre for Divyang Empowerment inaugurated in Telangana: The Union Minister of State for Home Affairs, G Kishan Reddy has inaugurated the National Centre for Divyang Empowerment (NCDE) at the CRPF Group Centre in Hakimpet near Hyderabad, Telangana.

About National Centre for Divyang Empowerment: The NCDE is first of its kind establishment to re-skill and rehabilitates the Divyang Warriors of the Central Armed Police Forces (CAPF) who suffered life-threatening injuries in the line of duty. Several market-driven expertise like computer skills and various sports skills will be imparted on the Divyang Warriors to empower them and enable them to serve the force and the country. All possible assistance and cooperation will be extended for the welfare of the Divyang Warriors.

Note: Central Reserve Police Force Director-General: AP Maheshwari; Central Reserve Police Force Headquarters: New Delhi, India.

 

3. Union Minister Nitin Gadkari inaugurates Koilwar bridge in Bihar: The Union Minister for Road Transport and Highways, Nitin Gadkari has inaugurated the 1.5 km long Koilwar bridge over Sone river in Bihar through Video Conferencing. This newly inaugurated bridge is a part of the six-lane bridge being made in place of the existing two-lane bridge, for both rail and road traffic, which is 138 years old. The total cost of setting up this three-lane bridge is estimated at Rs 266 crore. The bridge is a major road for transport between Bihar and UP. Once this six-lane bridge is fully operational, the traffic on NH-922 and NH-30 will ease substantially.

 

INTERNATIONAL UPDATES:

 

1. Kuwait emir reappoints Sheikh Sabah Al-Khalid as prime minister: Kuwait Emir Sheikh Nawaf Al-Ahmad Al-Sabah has re-appointed Sheikh Sabah Al-Khalid Al-Sabah as prime minister. The move comes two days after Sheikh Sabah submitted his government’s resignation in a procedural step following parliamentary polls. The country’s ruler accepted the premier’s resignation before reassigning him to form the upcoming government. Sheikh Nawaf who took over the leadership of the Gulf state in September after the death of his brother also asked Sheikh Sabah to nominate members of a new cabinet. The new cabinet would have to be approved by the Emir.

Note: Kuwait Capital: Kuwait City; Kuwait Currency: Dinar.

 

2. International Day of Neutrality: 12th December: International Day of Neutrality is a United Nations recognized day held on December 12 each year to raise public awareness of the value of neutrality in international relations. It was officially declared by a UN General Assembly resolution adopted in February 2017 and first observed on December 12, 2017.

About Neutrality: Neutrality is defined as the legal status arising from the abstention of a state from all participation in a war between other states, the maintenance of an attitude of impartiality toward the belligerents, and the recognition by the belligerents of this abstention and impartiality — is critically important for the United Nations to gain and maintain the confidence and cooperation of all in order to operate independently and effectively, especially in situations that are politically charged.

 

3. International Universal Health Coverage Day: 12th December: International Universal Health Coverage Day is a United Nations’ recognized international day celebrated every year on December 12. The Day aims to raise awareness of the need for strong and resilient health systems and universal health coverage with multi-stakeholder partners. This year theme of International Universal Health Coverage Day is ‘Health For All: PROTECT EVERYONE’. The theme reflects that to end this crisis (COVID-19) and build a safer and healthier future, we must invest in health systems that protect us all—now.

On 12 December 2012, the United Nations General Assembly endorsed a resolution urging countries to accelerate progress toward universal health coverage (UHC) – the idea that everyone, everywhere should have access to quality, affordable health care – as an essential priority for international development. On 12 December 2017, the United Nations proclaimed 12 December as International Universal Health Coverage Day (UHC Day).

 

OTHER UPDATES:

 

SPORTS

 

1. Madagascar replaces Maldives as host of 2023 Indian Ocean Island Games: Madagascar has replaced the Maldives as the host of the 2023 Indian Ocean Island Games due to concerns over the COVID-19 pandemic. The event had been awarded to the Maldives last year, but members of the Indian Ocean Island Games Federation voted to move the Games to Madagascar. The decision came as a result of the challenges the Maldives is facing in organising the event during the coronavirus crisis. The Maldives had requested pushing back the 2023 Games to 2025 but the IOIGF was keen to avoid a six-year void between editions of the multi-sport event.

Note: Madagascar Capital: Antananarivo; Madagascar President: Andry Rajoelina; Madagascar Currency: Malagasy ariary.

 

2. Annika Sorenstam elected president of International Golf Federation: The International Golf Federation (IGF) elected Annika Sorenstam as its new president effective January 1, 2021. IGF President, Peter Dawson, is stepping down after 10 years of leadership and service.  Sorenstam, a 72-time winner on the LPGA Tour and former No. 1 from Sweden.

Note: International Golf Federation Founded: 1958; International Golf Federation Headquarters: Lausanne, Switzerland; Golf became an Olympic sport again in 2016 after 112 years.

 

3. Zena Wooldridge Elected As World Squash Federation President: Zena Wooldridge from England has been elected as the World Squash Federation President. She will become the 10th WSF President to serve since the Federation’s inception in 1967. She is the second female President after New Zealand’s Susie Simcock. She replaces outgoing President Jacques Fontaine, from France. She previously served six years as President of the European Squash Federation between 2013-2019.

Note: World Squash Federation Founded: 1967; World Squash Federation Headquarters: Hastings, United Kingdom.

 

BANKING AND FINANCE

 

1. BoB launches Atmanirbhar Women Gold Scheme: Bank of Baroda (BoB) has recently launched the Atmanirbhar Women Scheme as part of its Baroda Gold Loan. This scheme aims to target the self-reliant woman in India. Under the scheme, the bank is offering loans at 0.50 per cent concession for women. The bank under the gold loan scheme is offering agri-gold loan at 0.25 per cent concession and for a retail loan at 0.50 per cent concession. This Atmanirbhar scheme is exclusively meant for helping women to be self-reliant. The scheme was launched at BOB’s Ramamurthy Nagar branch in Bengaluru and simultaneously in 18 branches coming under 18 zones in the country.

Note: Bank Of Baroda Headquarters: Vadodara, Gujarat, India; Bank Of Baroda Chairman: Hasmukh Adhia; Bank Of Baroda MD & CEO: Sanjiv Chadha.

 

BUSINESS AND ECONOMY

 

1. Fitch Ratings lowers India’s GDP contraction at 9.4% for FY21: Fitch Ratings has revised the GDP growth rate for India in its Global Economic Outlook, and now expects the economy to contract 9.4 per cent in the current financial year 2020-21, as compared to (-)10.5 per cent forecast earlier. Fitch has also projected the FY22 GDP growth at 11 per cent and 6.3 per cent growth in FY23.

 

2. Nomura Expects India to be fastest growing Asian economy in FY21: The Japanese research and brokerage house Nomura has projected India to be the fastest-growing Asian economy in 2021. Nomura has estimated the gross domestic product (GDP) growth of India for the calendar year 2021 (CY21) at 9.9%. For the calendar year 2020 (CY20), Nomura expects GDP growth at -7.1 per cent.

 

AWARDS AND HONOURS

 

1. Finance Minister Nirmala Sitharaman at 41 on Forbes 2020 list: Finance Minister Nirmala Sitharaman has grabbed the 41st spot in the 2020 list of Forbes 100 most powerful women in the world. This is the second time she features in the list, in 2019 ranked at 34 and ranked 41st in 2020. India’s leading Businesswomen, Kiran Mazumdar-shaw, Chairman of Biocon Limited also featured in the list at 68th position. The list also saw the biggest jump in ranking to 3rd position by Kamala Harris, Vice President-Elect of USA, and Prime Minister of Bangladesh, Sheikh Hasina Wajed is ranked at 39. Here is the list of top 5 personality in the Forbes 100 most powerful women in the world:

Rank	Personality	Profession
1	Angela Merkel	Chancellor, Germany
2	Christine Lagarde	President, European Central Bank
3	Kamala Harris	Vice President-elect, United States
4	Ursula von der Leyen	President, European Commission, European Union
5	Melinda Gates	Co-Chair, Bill & Melinda Gates Foundation
41	Nirmala Sitharaman	Finance Minister of India
68	Kiran Mazumdar-Shaw	Founder, Chair and Managing Director, Biocon Ltd.

Note: Forbes is the 103-year-old American Business Magazine, issued weekly. Editor in Chief: Steve Forbes. First issued in September 1917.

 

OBITUARIES

 

1. Italy’s 1982 World Cup hero Paolo Rossi passes away: Paolo Rossi of Italy, who scored 6 goals in the 1982 World Cup, passed away. He is the only male player in history to win the World Cup, the Golden Boot, the Golden Ball and Ballon d’Or in the same year. In 1982 was Italy’s first victory after 1938.

Daily GK Updates – 11th Dec, 2020

NATIONAL UPDATES:

 

1. ADB approves Rs 2.5 mn in technical assistance for biofuel development in India: The Manila-based multilateral lending agency Asian Development Bank (ADB) has approved a USD 2.5 million (about Rs 18 crore) technical assistance to support advanced biofuel development in India. The grant will be funded from the Asia Clean Energy Fund, financed by the Government of Japan under the Clean Energy Financing Partnership Facility, and the Republic of Korea’s e-Asia and Knowledge Partnership Fund. The technical assistance (TA) will support the development of advanced bioethanol, bio-compressed natural gas, and biodiesel plants to demonstrate the best practices for suitable feedstock, efficient conversion technology, and sustainable biofuel value chain.

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

 

2. Andhra Pradesh, Karnataka and Telangana Participates in 7th WASH Conclave Concludes: The 7th WASH (Water, Sanitation and Hygiene) Conclave was organised in virtual mode by organised by the UNICEF and the National Institute of Rural Development and Panchayati Raj (NIRDPR). The theme of the conclave was “Hygiene Matters”. Andhra Pradesh Governor Biswa Bhusan Harichandan was the Chief Guest at the event. The event had participants from Andhra Pradesh, Karnataka and Telangana to discuss key issues with particular focus on hygiene and create an opportunity for strengthening collaborations and partnerships among institutions including government dealing with WASH and related programs across three states and districts

The Government of India has set the target to provide access to and use of safe and adequate drinking water to all households within premises by 2024.

 

3. PwC, UNICEF and YuWaah partner to redefine education: Consulting firm PwC India has collaborated with the United Nations Children’s Fund (UNICEF) and YuWaah (Generation Unlimited in India) to upskill 300 million young Indians over the next 10 years. This collaboration is part of PwC’s global multi-sector partnership with UNICEF and Generation Unlimited to upskill and provide about 1.8 billion youngsters with socio-economic opportunities from school to work by 2030. This partnership will focus on three facets to India’s digital empowerment for youngsters, which are education, skilling and entrepreneurship. According to the International Labour Organization (ILO), India is staring at a 29 million skill deficit by 2030.

Note: International Labour Organization Headquarters: Geneva, Switzerland; International Labour Organization Founder: Paris Peace Conference; International Labour Organization Founded: 1919; International Labour Organization Director-General: Guy Ryder.

 

INTERNATIONAL UPDATES:

 

1. Mt Everest declared 86 cm taller by Nepal and China: The world’s highest mountain peak ‘Mount Everest’ has become taller by 86 cm, as per a survey conducted jointly by Nepal and China. The Government of Nepal and China jointly conducted an exercise to measure the world’s highest peak. The new height of Mt Everest has been calculated at 8,848.86 metres, which is 0.86m more than the previous measurement done by India in 1954. In feet, the new elevation is about 29,031 ft, or about 3 ft higher than Nepal’s previous claim. In Tibetan language, Mount Everest is known as Mount Qomolangma while in Nepalese language it is famous as Sagar-Matha.

Some important facts of Mount Everest height: The common declaration meant that the two countries have shed their long-standing difference in opinion about the mountain’s height — 29,017 feet (8,844 m) claimed by China and 29,028 ft (8,848 m) by Nepal. In 1955, the height of Mount Everest was measured at 8848 m (29,028 feet) by the Survey of India. There was also a third estimate, even higher, in 1999, a US team put the elevation at 29,035 feet (nearly 8,850 m). This survey was sponsored by the National Geographic Society, US. The Society uses this measurement, while the rest of the world, except China, had accepted 8,848 m so far.

 

2. UNICEF Day: 11th December: Every year the UNICEF Day is observed on December 11. The United Nations General Assembly created UNICEF on December 11, 1946, as the United Nations International Children’s Emergency Fund to improve the health, nutrition, education, and general welfare of children devastated due to World War II. UNICEF’s name was subsequently changed from United Nations International Children’s Emergency Fund to United Nations Children’s Fund though; it continued to be known by the popular acronym based on the previous title.

Note: UNICEF Headquarters: New York, United States of America; UNICEF Executive Director: Henrietta H. Fore.

 

3. International Mountain Day: 11th December: The International Mountain Day is observed globally on December 11 every year. The day is celebrated to create awareness about the importance of mountains to life, to highlight the opportunities and constraints in mountain development and to build alliances that will bring positive change to mountain peoples and environments around the world. “Mountain biodiversity” is the theme of this year’s International Mountain Day, so let’s celebrate their rich biodiversity, as well as address the threats they face. The day was established by the UN General Assembly in 2003 to encourage sustainable development of mountains. United Nations had declared 2002 as the UN International Year of Mountains.

 

OTHER UPDATES:

 

SPORTS

 

1. Kiren Rijiju launches 2nd edition of Fit India Cyclothon: Sports Minister Kiren Rijiju has launched the second edition of Fit India Cyclothon through a virtual platform. The mega cycling event will run for 25 days, beginning from 7th December till 31st December 2020. The event has been organised across the country in each district. The citizens can participate by registering on Fit India website. The participants can cycle daily for a distance of their choice, and share their images and videos on social media. They may also tag @FitIndiaOff and use the hashtag – FitIndiaCyclothon and #NewIndiaFitIndia.

Note: Sports Authority of India Founder: Ministry of Youth Affairs and Sports.

Sports Authority of India Founded: 1982; Sports Authority of India Headquarters: Delhi; Director-General of Sports Authority of India: Sandip Pradhan

 

2. Yulimar Rojas and Mondo Duplantis crowned 2020 World Athletes of the Year: Swedish pole vaulter Mondo Duplantis and Venezuelan triple jumper Yulimar Rojas are the 2020 Male and Female World Athletes of the Year. They are their countries’ first recipients of the prestigious athletics award announced during the virtual awards.

About Mondo Duplantis: At the age of 20, Duplantis is the youngest ever winner of the Male Athlete of the Year Award after twice breaking the absolute world record (6.17m and 6.18m) in February before producing the highest outdoor vault in history (6.15m) in September.

About Yulimar Rojas: Rojas who broke the world indoor triple jump record with a leap of 15.43m, finished the shortened 2020 season undefeated in four triple jump competitions indoors and outdoors.

 

3. Parthiv Patel announces retirement from all forms of cricket: India’s wicketkeeper-batsman Parthiv Patel has announced his retirement from all forms of cricket. The 35-year-old left-hander, who made his international debut in 2002, played 25 Tests, 38 ODIS and two T20Is for India. He last wore Indian jersey in 2018 during a Test match against South Africa in Johannesburg. While the Gujarat cricketer represented his state in 194 first-class matches. He played 204 T20 matches for his state and various IPL franchises and scored 4,300 runs at a strike rate of 123.84, with the help of 23 half-centuries.

 

BANKING AND FINANCE

 

1. RBI cancels licence of Maharashtra-based Karad Janata Sahakari Bank: The Reserve Bank of India has cancelled the licence of Karad Janata Sahakari Bank Ltd in Maharashtra, as it does not have adequate capital and earning prospects. As such, it does not comply with the provisions of the Banking Regulation Act, 1949. More than 99 per cent of the depositors of the bank will get full payment of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC). With the cancellation of licence and beginning of liquidation proceedings, the process of paying the depositors of Karad Janata Sahakari Bank will be set in motion. On liquidation, every depositor is entitled to repayment of their deposits up to ₹ 5 lakh only from the DICGC. After cancellation of licence from the close of a business hour on December 7, the bank cannot work anymore, which includes taking deposits and repaying deposits.

 

2. RBI introduces Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) for Regional Rural Banks (RRBs): The Reserve Bank of India has allowed the Scheduled Regional Rural Banks (RRBs) to take part in the Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) of RBI for better for liquidity management. The following Scheduled RRBs will be eligible for the scheme:

(1) Implemented Core Banking Solution (CBS)

(2) There is a minimum CRAR of nine per cent and

(3) Fully compliant with the terms and conditions for availing LAF and MSF issued by Financial Markets Operations Department (FMOD), Reserve Bank of India.

 

3. Kotak AMC launches REIT Funds of Funds scheme: Kotak Mahindra Asset Management Company (Kotak Mutual Fund), has launched Kotak International REIT Fund of Funds, India’s first diversified REIT Mutual Fund. REIT stands for Real Estate Investment Trust. About Kotak International REIT Fund of Funds:

(1) Kotak International REIT Fund of Funds is an open-ended mutual fund scheme that will invest in units of SMAM Asia REIT Sub Trust Fund.

(2) This mutual fund scheme will have a diversified investment portfolio comprising of listed REITs which will invest in real estate projects like residential, office, data centres, warehousing, retail and hospitality.

(3) The Kotak International REIT Fund of Funds will invest in units of Japan-based SMAM Asia REIT Sub Trust Fund.

(4) The SMAM Asia REIT Sub Trust Fund is one of the largest Asia Pacific (Ex Japan) REIT funds investing in listed REITs in the Asia Pacific region.

(5) It is managed by Sumitomo Mitsui DS Asset Management Company, which has a significant portfolio of listed Real Estate Investment Trusts in Singapore, Australia and Hong Kong.

Note: MD of Kotak Mahindra Asset Management Company: Nilesh Shah; Kotak Mahindra Asset Management Company Headquarters: Mumbai, Maharashtra.

 

AWARDS AND HONOURS

 

1. Invest India wins United Nations Investment Promotion Award 2020: The Geneva-based United Nations Conference on Trade and Development (UNCTAD) has awarded the 2020 United Nations Investment Promotion Award to Invest India, the National Investment Promotion Agency of India. The Invest India was declared the winner from among the 180 global Investment Promotion Agencies (IPAs). The response of IPAs to the COVID-19 pandemic was the basis for the evaluation of the 2020 United Nations Investment Promotion Award. The annual award recognizes and celebrates the outstanding achievements and best practices of Investment Promotion Agencies (IPAs) across the globe.

Note: Invest India is a non-profit venture under the Department of Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.

Invest India MD & CEO: Deepak Bagla; Invest India Established: 2009; Invest India Headquarter: New Delhi.