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IAS ASPIRANT

Prime Minister Narendra Modi on Saturday inaugurated three key projects in Gujarat through video conferencing.

Modi launched the Kisan Suryodaya Yojana for providing 16 hours of power supply to farmers. He also inaugurated the Paediatric Heart Hospital attached with U.N Mehta Institute of Cardiology and Research Centre and a Mobile Application for tele-cardiology at the Ahmedabad Civil Hospital in Ahmedabad.

Speaking on the occasion, he said Gujarat has always been an exemplary model for the determination and dedication of the common man. He added after the Sujalam-Suflam and Sauni scheme, the Kisan Suryodaya Yojana Gujarat has set a milestone in meeting the needs of the Gujarat Farmers. He said the work done in Gujarat for years in the field of electricity, has become the basis of this scheme. He said from power generation to transmission all the works were carried out in mission mode to improve the capacity in the state. He said in 2010 when the solar power plant was inaugurated in Patan, nobody could have imagined that India would show the world the path for One Sun, One World, One Grid. Prime Minister appreciated the fact that India has now reached 5th position in the world in the last few years in solar power and is advancing fast.

On Kisan Suryodaya Yojana the Prime Minister said, earlier most of the farmers got power for irrigation in the night only and had to wake up all night. "In Girnar and Junagadh the farmers also face the problems of wild animal s.Under the Kisan Suryodaya Yojana farmers will get 3 phase power supply from 5 AM to 9 PM and will bring a new dawn in their lives," he said.

The Prime Minister also lauded the efforts of the Gujarat government for doing this work by preparing a completely new capacity of transmission, without affecting the other existing systems. Under this scheme, about 3,500 circuit kilometers of new transmission lines will be laid in the next 2-3 years and will be implemented in more than a thousand villages in the coming days and most of these villages are in tribal dominated areas. He said it will change the lives of lakhs of farmers, when the entire Gujarat gets the power supply through this scheme.

The Prime Minister urged to work continuously in line with the changing times to help the farmers in doubling their income, by reducing their investment and overcoming their difficulties. He listed the initiatives of the Government to double the income of the farmers like formation of thousands of FPOs, neem coating urea, Soil Health Cards and launching of many new initiatives. He said under KUSUM Yojana, FPOs, Panchayats and all such organizations are assisted in setting up small solar plants on barren lands and that irrigation pumps of farmers are also connected to the solar energy. He added the electricity generated from this will be used by the farmers for their irrigation and they can sell the surplus power.

The Prime Minister remarked that along with power, Gujarat has done commendable work in the field of irrigation and drinking water also. He said there used to be great hardships for people just to get water and today water has reached those districts which was not imagined before. He felt proud of the projects like Sardar Sarovar project and Water Grids which helped in water reaching the drought hit regions of Gujarat. He pointed out that 80 percent of the households in Gujarat have piped drinking water and very Soon Gujarat will be the state where every house will have piped drinking water. He urged the farmers to reiterate the mantra of Per Drop More Crop as Kisan Suryodaya Yojana is being inaugurated. He said providing electricity during the day would help the farmers in setting up micro irrigation and Kisan Suryodaya Yojana would help in the expansion of micro irrigation in the state.

Referring to the UN Mehta Institute of Cardiology and Research Center launched today he said it is one of the few hospitals in the country that has a world class infrastructure as well as a modern health facility and would be India's largest cardiac hospital. He said Gujarat did a commendable work with setting up a network of modern hospitals, medical colleges and connecting every village with better health facilities. He added that 21 lakh people of Gujarat have received free treatment under Ayushman Bharat scheme. More than 525 Jan Aushadi Kendras offering low cost medicines have been opened in Gujarat and out of this, about ₹100 crore have been used to save the common people of Gujarat.

The Prime Minister said Girnar mountain is the abode of Ma Ambe. It has Gorakhnath peak, Guru Dattatreya peak and a Jain temple. He said with the inauguration of the world class Rope Way more and more devotees and tourists will come here. He said this would be the fourth rope way in Gujarat along with Banaskantha, Pavagadh and Satpura. He added this ropeway will now provide job opportunities and economic opportunities to the people. He highlighted the hardships people face when such systems that provide so much convenience to the people, remain stuck for so long. He listed the economic benefits accruing to the locals by developing tourist sites. He listed sites like Shivarajpur beach which has got blue flag certification and Statue of Unity which provides a lot of employment opportunities to the locals. He cited an example of Kankaria Lake in Ahmedabad where nobody used to go. And after renovation yearly about 75 lakh people are visiting the Lake and has also become a source of revenue to many people. He said tourism is one sector which with little investment provides many job opportunities. He urged the people of Gujarat and those spread across the world to become its ambassadors to canvas for the various tourist destinations in Gujarat and help in its progress.

Kisan Suryodaya Yojana

To provide day-time power supply for irrigation, the Gujarat Government under Chief Minister Vijay Rupani had recently announced the ‘Kisan Suryodaya Yojana’. Under this scheme, farmers will be able to avail power supply from 5 AM to 9 PM. The state government has allocated a budget of ₹3,500 crore for installing transmission infrastructure under this scheme by 2023. 234 ‘66-Kilowatt’ transmission lines, with a total length of 3490 circuit kilometers (CKM) will be established under the project, in addition to 220 KV substations.

Dahod, Patan, Mahisagar, Panchmahal, Chhota Udepur, Kheda, Tapi, Valsad, Anand and Gir-Somnath have been included under the Scheme for 2020-21. The remaining districts will be covered in a phase-wise manner by 2022-23.

 

 

 

 

 

October 26, 2020 No Comments

International Day for the Remembrance and Abolition of Slave Trade by the United Nations ( UN) is celebrated annually on August 23 to inform citizens of the injustice of transatlantic slave trafficking. This offers us an incentive to focus on the past origins, practices, and effects of slave trading.

 

In 1888 Brazil was the only nation to end slavery in the Americas. Groups in Eastern Europe united to end the Roma enslavement in Wallachia and Moldova and to emancipate the serfs in Russia. In 1948 the International Declaration of Human Rights deemed Slavery unlawful.

History

The night of 22 to 23 August 1791 saw the beginning of the revolt in Santo Domingo (today Haiti and the Dominican Republic) which would play a key role in abolishing the transatlantic slave trade.

To this backdrop, on 23 August each year is commemorated the International Day for the Remembrance of Slave Trade and its Abolition.

The aim of this International Day is to inscribe the horror of slave trafficking into the memory of all nations. It will offer a forum for the mutual study of the historical origins, practices, and implications of this catastrophe, in keeping with the aims of the intercultural initiative “The Slave Route. It has given rise to an analysis of ties between Africa,  the Americas, Europe, and the Caribbean.

UNESCO’s Director-General encourages all Member States’ Ministers of Culture to arrange activities on that date each year, including their country’s whole population and, in particular, young people, students, artists, and intellectuals.

International Day for the Memory and Emancipation of Slave Trafficking was first observed in a variety of nations, especially in Haiti (23 August 1998) and Goree in Senegal (23 August 1999). They have coordinated community activities and conferences. The year 2001 saw the presence of the Mulhouse Textile Museum in France in the form of a fabric workshop named “Indiennes de Traite” (a kind of calico) which served as a currency for slave exchanges in the 17th and 18th centuries.

What Do People Do?

Each year the UN welcomes people from all around the world, including educators, students, and musicians, to plan activities that reflect on this day’s theme. Theatre, artistic organizations, singers, and performers are involved in this day by demonstrating their opposition to slavery by events including song, dance, and drama.

Educators support the day by educating people of the real facts of slave slavery, the effects of slave slavery, and encouraging compassion and human rights. Several groups, including community organizations, policy departments, and Charities, are actively involved in the campaign to teach people regarding the harmful consequences of slave labor.

Public Life

The UN International Day for Slave Trade Remembrance and Emancipation is an observance of the United Nations worldwide which is not a public holiday.

Symbolism

Unesco’s emblem depicts a temple painting with the word “UNESCO” beneath the temple roof and on top of the base of the building. Under the temple are the terms “Educational, Technical and Cultural Organization of the United Nations” This emblem is widely used in advertising material for the International Slave Trade Remembrance Day and its Emancipation.

 

August 23, 2020 No Comments

 We are here for you to provide the important Recent and Latest Current Affairs 22 August 2020, which have unique updates of Latest Current Affairs 2020 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

 

NATIONAL AFFAIRS

5th Swachh Survekshan 2020 Announced by Hardeep Singh Puri; Indore is India’s Cleanest City 4th Time in a Row

 i.On August 20, 2020, during a virtual event of Swachh Mahotsav organized by, Ministry of Housing and Urban Affairs (MoHUA), Hardeep Singh Puri, Minister of State (MoS)-Independent Charge (I/C) MoHUA announced the 5th edition of the annual cleanliness urban survey of India i.e.”Swachh Survekshan 2020 (SS2020)” conducted by MoHUA.  
ii.A total of 129 awards given away by the minister in which Madhya Pradesh’s Indore emerged as India’s cleanest city for the 4th consecutive time while Gujarat’s Surat and Maharashtra’s Navi Mumbai grabbed 2nd and 3rd positions respectively.
iii.SS2020, the 28 days long completely digitized and paperless nationwide survey is the world’s largest cleanliness survey covering 1.87 crore citizens of 4,242 cities, 62 cantonment boards and 92 towns along the Ganga river.
About Swachh Survekshan:
Launched in 2016 by Prime Minister Narendra Modi its objective was to monitor the performance of Swachh Bharat Abhiyan, which was launched on October 2, 2014, the 150th birth anniversary of Mahatma Gandhi.

MoU Signed between Ministry of Shipping and MSDE for Development in Port and Maritime Sector

On 20th August, 2020, A Memorandum of Understanding (MoU) was signed between the Ministry of Shipping (MoS) and Ministry of Skill Development and Entrepreneurship(MSDE) for skilling, re-skilling and upskilling of manpower in Port, Maritime sectors.
Objective:
The aim of the MoU is to help individuals to build and certify their skills sets, to reap the benefits of vast employment opportunities in the Maritime Sector with focus on youth of coastal areas. 


Atal Innovation Mission and India Sweden Healthcare Innovation Centre Partners to Boost Startup Ecosystem


i.On 20th August 2020, Atal Innovation Mission (AIM), NITI Aayog and Business Sweden on behalf of India-Sweden Healthcare Innovation Centre signed a virtual Statement of Intent (SoI) to boost the culture of innovation in India.
ii.This collaboration aims to promote the innovative potential of Indian Entrepreneurs and to boost the dynamic startup ecosystem across India.
iii.India-Sweden Healthcare Innovation Centre is a collaboration of All India Institute of Medical Science(AIIMS) (Delhi, Jodhpur) and Business Sweden.
About Atal Innovation Mission (AIM):
AIM is a flagship initiative of NITI Aayog.
Mission Director– R Ramanan
Headquarters– New Delhi
About Sweden:
Prime Minister– Stefan Löfven
Capital- Stockholm
Currency– Swedish krona

Arjun Munda Virtually Launched Trifood Project of TRIFED in Raigad, Maharashtra and Jagdalpur, Chhattisgarh


i.On 20th August 2020, Arjun Munda, Union Minister of Tribal Affairs(MoTA) virtually launched the tertiary processing centres of the “Trifood Project” in Raigad, Maharashtra and Jagdalpur, Chhattisgarh.
ii.The Trifood project was carried by the MoTA in association with the Ministry of Food Processing Industries(MoFPI) and implemented by the Tribal Cooperative Marketing Development Federation of India (TRIFED).
About Ministry of Tribal Affairs:
Union Minister– ArjunMunda
Minister of State– Renuka Singh Saruta
About TRIFED:
Managing Director– Pravir Krishna
Head Office– New Delhi, India

IIM Kozhikode signs MoU with Switzerland based HELP Logistics


i.On 17th August, 2020, Indian Institute of Management, Kozhikode (IIM-K) signed a Memorandum of Understanding (MoU) with Switzerland based HELP Logistics to engage in a collaborative partnership to provide consulting services and logistics training for the humanitarian community in South Asia.
ii.HELP Logistics – a registered non-profit organisation and a subsidiary company of the Kühne Foundation, Schindellegi, Switzerland
About IIM-K:
Director of IIM-K – Professor Debashis Chatterjee
Chairman – Arunachalam Vellayan
 

MoTA and MoRD Signed Joint Communication to Promote Sustainable Livelihood Opportunities Among Tribal Women SHGs


i.On August 18, 2020, Ministry of Tribal Affairs (MoTA) and Ministry of Rural Development (MoRD) inked a Joint Communication to promote sustainable livelihood opportunities among tribal women Self Help Groups (SHGs) under National Rural Livelihood Mission (NRLM). 
ii.The joint communication was inked by Deepak Khandekar, Secretary MoTA and Nagendra Nath Sinha, Secretary, MoRD under which A series of activities will be carried out by both the Ministries to improve the economic opportunities available to tribal women.
iii.Other Participants during signing: Arjun Munda, Union Minister MoTA, Narendra Singh Tomar, Union Minister MoRD, Harsimrat Kaur Badal, Union Minister for Food Processing Industries (MoFPI), Renuka Singh Saruta, Minister of State (MoS) MoTA, Sadhvi Niranjan Jyoti, MoS, MoRD and several senior officers.
 
 

Harsh Vardhan Launched FSSAI’s ‘Eat Right India’ Handbook and a Website to Scale Up ‘Eat Right India’ Initiatives

Dr. Harsh Vardhan, Union Minister of Health and Family Welfare launched FSSAI’s ‘Eat Right India’ Handbook, a referral guide for officials of different jurisdictions to adopt and scale up the ‘Eat Right India’(ERI) initiatives in their jurisdictions during the online orientation workshop organised by Food Safety and Standards Authority of India (FSSAI) as part of its “Eat Right Challenge”.
Key People:
Ashwini Kumar Choubey, Minister of State for Health & Family Welfare along with Rita Teaotia, Chairperson, FSSAI and ArunSinghal, CEO, FSSAI were present at the online orientation workshop presided by Harsh Vardhan.
Key Points:
i.Food Safety Commissioners and district officials such as District Magistrates and Designated Officers from around 197 cities and districts participated in the workshop.
ii.This movement focuses on prioritising food, nutrition and awareness on eating and dietary habits.
iii.This also focuses on the problems of food wastage and disposal of food.
Importance of Eat Right India:
In India,
196 million are victims of chronic hunger while 180 million suffer from obesity.
47 million children have stunted growth while another 25 million are wasted.
500 million are deficient in micronutrients and 100 million suffer from food-borne diseases.
Other launches:
Harsh Vardhan also launched a website “eatrightindia.gov.in” to support the stakeholders to scale up ‘Eat Right India’ initiatives across India
About Ministry of Health and Family Welfare(MoHFW):
Union Minister– Harsh Vardhan
Minister of State– Ashwini Kumar Choubey

 

 INTERNATIONAL AFFAIRS

 

LS Speaker Om Birla Attends Inaugural Ceremony of 5th World Conference of Speakers of Parliament

i.On 19th August, 2020 Lok Sabha Speaker Om Birla attended the inaugural ceremony of the 5th World Conference of Speakers of Parliament (5WCSP) through virtual mode. This is the first time that an International Parliamentary Conference is being held in Virtual mode. 
ii.The two-day conference on August 19 & 20 is being organised jointly by the Inter-Parliamentary Union (IPU), Geneva and the Parliament of Austria with the support of the United Nations (UN).
About Inter-Parliamentary Union (IPU):
President – Gabriela Cuevas Barron
Headquarters – Geneva, Switzerland
About Om Birla:
Constituency – Kota-Bundi, Rajasthan
Political Party – Bharatiya Janata Party (BJP)

 
 

Over 200 Elephants in India Kept in Severely Inadequate Conditions: World Animal Protection

On August 12, 2020, during the observance of World Elephant Day 2020, World Animal Protection released the third edition of the report ‘Elephants. Not commodities’ which highlighted that over 200 Elephants in India are kept in ‘Severely Inadequate Conditions’.  
The report comprises research spanning over a decade in elephant tourism and assessed the entertainment venues across Thailand, India, Laos, Cambodia, Nepal, Sri Lanka and Malaysia. 
Highlights of ‘Elephants. Not Commodities’: 
i.According to the report, India is home to the second-highest number of elephants which are used for tourism in the region of Asia. 
ii.In the region Asia, there are 21 venues housing 509 elephants and out of which 45% (225) are kept in severely inadequate conditions.
iii.According to the report, across Asia there are over 3, 800 captive elephants in 357 elephant tourism venues and Thailand is home to three quarters of the captive elephants.
iv.World Animal Protection India has been working to phase out elephant rides at the Amer Fort in Rajasthan’s Jaipur, which has over 100 elephants providing daily rides to thousands of tourists.
World Animal Protection:
World Animal Protection formerly known as World Society for the Protection of Animals (WSPA) is an International Non-Profit Animal Welfare Organization.

 BANKING & FINANCE

 

RBI Releases National Strategy for Financial Education 2020-2025; 5C Approach Recommended

i.On the lines of the review of progress made under the first National Strategy for Financial Education (NSFE: 2013-2018) the revised NSFE (2020-2025) has been prepared and the document for the same was released by Mahesh Kumar Jain, Deputy Governor, Reserve Bank of India (RBI) on August 20, 2020.

ii.This NSFE 2020-2025, has been prepared by the National Centre for Financial Education (NCFE) in consultation with all (four) the Financial Sector Regulators viz. RBI, Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA), along with Department of Financial Services (DFS) and other Ministries of Govt. of India under the aegis of the Technical Group on Financial Inclusion and Financial Literacy (TGFIFL) chaired by Deputy Governor, RBI.

iii.There are the Strategic Objectives laid down in NSFE 2020-2025 and in order to achieve them, the document recommends adoption of a ‘5 C’ approach viz. Content, Capacity, Community, Communication and Collaboration.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).

 

HSBC India Becomes 1st Foreign Bank in India to launch a ‘Green Deposit Programme’ for Corporate Clients to Finance Green Initiatives

 
i.HSBC India becomes 1st Foreign Bank in India to launch a‘Green Deposit Programme’ exclusively for corporate clients to finance green initiatives and eco-friendly projects like renewable energy, clean transportation, and pollution prevention among others, that promote transition to a low-carbon, climate resilient and sustainable economy. 
ii.This will enable companies to support environmentally-beneficial projects. 
iii.It is available in Rupees(Rs) as ‘Term Deposit’, which generally attracts higher interests compared to savings deposits.
About HSBC India
HeadQuarters– Mumbai, Maharashtra
 
 

 ECONOMY & BUSINESS

 

IBM Collaborates with NSDC to Offer Free Digital Education Platform for Skill Development

i.On 21st August 2020, IBM (International Business Machines Corporation) announced its collaboration with National Skill Development Corporation(NSDC) to offer a free digital education platform on emerging technologies and professional skill development and to equip the next generation with digital skills.
ii.IBM will manage an online course from Open P-Tech platform and will offer it to the users through eSkill India Portal of NSCD.
About IBM (International Business Machines Corporation):
Executive Chairman– Virginia M. Rometty
Chief Executive Officer– Arvind Krishna
Headquarters– Armonk, New York, United States of America
 

 ACQUISITIONS & MERGERS

CCI Approved 100% Proposed Acquisition of C&S Electric Limited by Siemens Limited

 he Competition Commission of India (CCI) has approved 100% proposed acquisition of the share capital of the Indian Operations of C&S Electric Limited (C&S) by Siemens Limited (Siemens India). For this purpose, Siemens Ltd has signed an agreement with C&S in January 2020. 
Proposed Combination
i.At the time of closing the proposed combination, the C&S business scope will include low-voltage (LV) switchgear components and panels, LV and medium voltage (MV) power bus bars as well as protection and metering devices of C&S. 
ii.Other businesses of C&S, like MV switchgear and package substation, lighting, diesel generating sets, engineering, procurement and construction business and the “Etacom” bus bars business will be retained by the existing promoters of C&S.
Key Info
i.Siemens India focuses on the following areas, namely,  power generation and distribution, intelligent infrastructure for buildings and distributed energy systems among others. 
ii.It supplies smart mobility solutions for rail and road transport and infrastructure solutions for Smart Cities.
iii.C&S, manufactures a wide range of electrical switchgear, power protection and electrical distribution products.
iv.It has an electrical contracting business which performs turnkey solutions for industrial and commercial electrification among others. Apart from these, it is also engaged in the design and execution of grid connected solar photo-voltaic power plants.
About Siemens India:
Managing Director(MD) and Chief executive Officer(CEO)– Sunil Mathur
HeadQuarters– Mumbai, Maharashtra
About C&S Electric Limited:
HeadQuarters– New Delhi, India
Chairman– Ravinder Nath(R.N) Khanna
  

SCIENCE & TECHNOLOGY

 

L&T Built Interceptor Boat ‘ICGS C-454’ of Indian Coast Guard Launched at Surat

 

On August 19, 2020 The 27-meter-long Interceptor Boat(IB) ‘ICGS C-454’, built by Larsen and Toubro Ltd(L&T) was launched into the service of the Indian Coast Guard(ICG) by Dr Hiral Patel, wife of Surat district Collector, Dhaval Patel during a ceremony in Surat.
Major Highlights of ICGS C-454
i.It has a maximum speed of 45 nautical miles(83 Km/hr- Kilometers per Hour).
ii.It has an excellent seakeeping, maneuverability and endurance range of 500 nautical miles.
Note– Till now,  L&T has handed over 51 out of 54 IB’s ordered by the Indian Coast Guard.
Additional Info
L&T-Class Fast Interceptor Craft
i.L&T fast interceptor craft is a series of high-speed interceptor boats being built by L&T Shipyard for the Indian Coast Guard. 
ii.The ships are designed for patrol and rescue operations in India’s Exclusive Economic Zone (EEZ).
ii.L&T Marine & Ship Design Division, an in-house facility of L&T Ltd, designs the IB’s.
Recent Related News:
i.The Indian Coast Guard (ICG) has commissioned a 3rd high-speed interceptor boat C-448 in Mangaluru, Karnataka.
ii.6th offshore patrol vessel(OPV) “Yard 45006 VAJRA” was launched to enhance coastal security. The 6th vessel in the series of 7 OPV is designed & developed by Larsen & Toubro under the Central government’s initiative ‘Make in India’.
About ICG:
Headquarters– New Delhi, India
Director General– Krishnaswamy Natarajan
About Larsen & Toubro Limited:
Headquarters– Mumbai, Maharashtra
MD & CEO– S.N. Subrahmanyan

 SPORTS

 

Ronnie O’Sullivan Wins Sixth World Snooker Championship 2020 at Crucible

 

On 17th August, 2020, English Professional Snooker Player Ronnie O’Sullivan won the World Snooker Championship for the 6th time by winning the 2020 World Snooker Championship at Crucible Theatre, Sheffield, England. He defeated England’s Kyren Wilson 18-8 in the final of the Betfred World Snooker Championship. 
i.He draws level with Ray Reardon and boyhood hero Steve Davis on world crowns, and surpasses Stephen Hendry on the all-time list of ranking event wins with a record 37 titles. 
ii.O’Sullivan, 44, is the oldest champion since Reardon, who was 45 in 1978 & he is behind Stephen Hendry’s modern-day record of seven successes in the World Championship. 
iii.This was Ronnie O’Sullivan’s first World title since 2013. 
World Snooker Championship 2020:
i.The World Snooker Championship took place from 31 July 2020 to 16th August, 2020 at the Crucible Theatre, Sheffield, England. 
ii.The event was organized by the World Professional Billiards and Snooker Association and World Snooker Tour.

 

 
 
 
August 22, 2020 No Comments

We are here for you to provide the important Recent and Latest Current Affairs 21 August 2020, which have unique updates of Latest Current Affairs 2020 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

 

 NATIONAL AFFAIRS

NSC, JCI Sign MoU for Supply of Certified Jute Seeds to Farmers in 2021-22

i.On 19th August, 2020 National Seeds Corporation (NSC) and Jute Corporation of India (JCI) signed a Memorandum of Understanding (MoU) to improve the production and productivity of raw Jute in the country.
ii.The MoU was signed virtually in the presence of Union Minister for Agriculture & Farmers Welfare, Narendra Singh Tomar and Union Minister for Textiles, Smriti Zubin Irani.
About NSC:
Chairman, Managing Director – Vinod Kumar Gaur
NSC Quality Control Laboratories – New Delhi, Secunderabad, Bhopal & Suratgarh
About JCI:
Chairman, Managing Director – Ajay Kumar Jolly
Headquarters – Kolkata

Report of NCRP 2020: Cancer in India may rise from 13.9 Lakh in 2020 to 15.7 lakh in 2025

i.On 18th August 2020, The Indian Council of Medical Research (ICMR) and the National Centre for Disease Informatics & Research (NCDIR), Bengaluru released a new Report of National Cancer Registry Programme 2020. 
ii.The report estimates that cancer in India will rise by 25% in 2020 and may rise 12% from the 1392179 cases in 2020 to 1569793 cases in 2025 and tobacco related cancers are estimated to constitute around 27% of all cancers.
iii.The report contains data of 5 years (2012-2016) from 28 Population Based Cancer Registries (PBCRs) and 58 Hospital Based Cancer registries (HBCRs) working under NCRP.
About Indian Council of Medical Research (ICMR):
Secretary & Director General– Dr. Balram Bhargava
Headquarters– New Delhi

IIT Roorkee, BIS Sign MoU to Cooperate in Standardisation and Conformity Assessment

i.Indian Institute of Technology (IIT) Roorkee and Bureau of India Standards (BIS) signed a Memorandum of Understanding (MoU) for collaboration in areas of Standardisation and Conformity Assessment based on equality and reciprocity. 
ii.The collaboration will include several fields like Civil, Electrical, Mechanical, Chemical, Earthquake Engineering, Development and Management of Water Resources and Renewable Energy Projects, Infrastructure Development, Medical Biotechnology and Nanotechnology biomaterials.
About IIT Roorkee:
Director – Professor Ajit Kumar Chaturvedi
State – Roorkee, Uttarakhand

L&T Hydrocarbon Engineering Signed MoU with NTPC Ltd for CO2 to Methanol Demonstration Plant

i.L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro (L&T) has signed a Memorandum of Understanding(MoU) with power utility major NTPC Ltd(formerly known as National Thermal Power Corporation Limited), a Maharatna PSU. ii.As per the MoU LTHE will be the engineering, procurement and construction management partner to build a carbon dioxide (CO2) to methanol demonstration plant in NTPC Power Station. 
iii.Under this MoU, LTHE and NTPC will further collaborate to accelerate the development and then commercialise CO2-to-methanol plants.
About LTHE:
Headquarters– Mumbai, Maharashtra
Independent Non-Executive Chairman– Vikram Singh Mehta
CEO & MD– Mr. Subramanian Sarma
About NTPC:
Headquarters– New Delhi, India
Chairman & Managing Director(CMD)– Gurdeep Singh

NRDC and NAL Partners to Establish Incubation Centre for Startup in Aerospace Technologies

 On 19th August 2020, The National Research Development Corporation (NRDC) under the Department of Scientific and Industrial Research (DSIR) and the Council for Scientific and Industrial Research- National Aerospace Laboratories (CSIR-NAL), an institute under the partnered to establish an innovation cum incubation center to promote in the startup in the field of aerospace technologies.
About National Research Development Corporation (NRDC):
Chief Managing Director– Dr. H. Purushotham
Location– New Delhi 
About National Aerospace Laboratories (NAL):
Director– Dr. Jitendra J. Jadhav
Location– Bengaluru, Karnataka

INTERNATIONAL AFFAIRS

India Ranked 57th in Digital Quality of Life 2020, Denmark tops: DQL Index 2020 by SurfShark

i.In accordance with the 2nd edition of global research “Digital Quality of Life (DQL) Index 2020”  released by online privacy solutions provider SurfShark, India ranked 57th out of 85 countries in terms of overall category “Digital Quality of Life 2020” with 0.5 index points which has been topped by Denmark with 0.79 points.
ii.The DQL Index 2020 analyzes 85 countries around the world covering 6.3 billion people or 81% of the global population in terms of five core pillars: internet affordability, internet quality, e-infrastructure, e-security, and e-government, and results are premised on 12 different factors.

India and Israel Signed Cultural Agreement to Strengthen Bilateral Relations through People to People Exchange

i.On 20th August 2020 India signed a cultural agreement with Israel, which outlines a three year programme of cooperation for 2020 to 2023, to strengthen the strategic bilateral relations through promoting the people to people exchange.
ii.Gabi Ashkenazi, Foreign Minister of Israel and Sanjeev Singla, India’s Ambassador to Israel signed the agreement at the foreign Ministry in Israel.
iii.This is one of a series of agreements which will be followed by the signing of a water agreement by our Ambassador in India.
About Ministry of External Affairs:
Union Minister– Dr. Subrahmanyam Jaishankar (Elected to Rajya Sabha from Gujarat)
Minister of State– V. Muraleedharan
About Israel:
Prime Minister- Benjamin Netanyahu
President– Reuven “Ruvi” Rivlin
Capital– Jerusalem
Currency– Israeli Shekel

The ILO’s “Youth and COVID-19: Impacts on Jobs, Education, Rights and Mental Well-being”: 50% of World’s Youth Are Under Anxiety or Depression 

On 11th August 2020, the United Nations(UN)’s International Labour Organization (ILO) published the survey report titled “Youth and COVID-19: Impacts on Jobs, Education, Rights and Mental Well-being” which found that 50% of young people across the world are possibly subject to anxiety or depression and around 17% of them are already affected by it. and 38% of youths do not have a clear idea about the career or future.
Note:
Around 12000 responses from 112 countries were received with a major contribution from the educated youths.
Aim:
To identify the immediate effects of the pandemic on the lives of the youths across the world with regards to employment, education, mental health, rights and social activism.
Key Points:
The mental wellbeing of the younger youths and young women aged between 18 to 24 years are at the lowest.
The survey urges the actions since the youths are at risk of suffering severe and long lasting impacts of the pandemic.
Findings of the survey:
i.It also states that some youths have experienced the direct impact of the pandemic and 1 in 6 youths have stopped their work since the outbreak of the pandemic.
ii.Around 13% of young people, especially the youths of low income countries do not have any access to courses, teachings or training and even with the efforts of schools and institutions, 65% of the youths have reported to have learnt less since the pandemic.
About International Labor Organization (ILO):
Director-General– Guy Ryder
Headquarters– Geneva, Switzerland
ILO is a specialized body of the United Nations (UN).

BANKING & FINANCE

NPCI Launched its Subsidiary Firm, ‘NPCI International Payments Limited’; Appointed Ritesh Shukla as its CEO

i.The National Payments Corporation of India (NPCI) has launched a wholly-owned subsidiary, NPCI International Payments Limited (NIPL) to internationalize (or export to foreign markets) NPCI’s indigenously developed offerings and technological acumen, i.e. real-time payment system, Unified Payments Interface (UPI) and card payment network, RuPay along with a few more offerings of NPCI. 
ii.It is also responsible to co-create payment technologies with other countries. 
iii.NPCI has appointed Ritesh Shukla as Chief Executive Officer(CEO) of NIPL.
About NPCI:
Head Office– Mumbai, Maharashtra
Managing Director(MD) & Chief Executive Officer(CEO)– Dilip Asbe

Lakshmi Vilas Bank Launched ‘LAKSHMI digiGO’, a Contactless Online Instant Savings Account Opening Facility

Lakshmi Vilas Bank(LVB) has launched ‘LAKSHMI digiGO’, a contactless digital initiative that will enable customers to open a savings account instantly. This initiative will help people to avail the most required banking services instantly through the website on account of COVID-19 pandemic.
Key Info About LAKSHMI digiGO
i.It is a savings account with select features which include internet and mobile Banking. 
ii.This account can be converted to a fully featured regular account of choice and avail cheque book, debit card and a host of other facilities on visiting the nearest LVB branch.
iii.It is a zero balance account and requires a Permanent Account Number (PAN) and Aadhaar card for opening the account.
iv.Customers can  immediately start to transact their accounts with LAKSHMI digiGO.
Recent Related News:
i.ICICI Bank has launched ‘Insta Flexicash’, an online overdraft(OD) facility for its pre approved salary account customers, by which these customers can get approval for OD instantly & in a paperless manner.
ii.In view of the ongoing lockdown in the country due to Coronavirus (COVID-19), Kotak Mahindra Bank has become the 1st bank in India to allow video Know your customer (KYC) facility for its customers opening savings account (SA) on Kotak 811 platform.
About LVB:
HeadQuarters– Chennai, Tamil Nadu
Managing Director & CEO (Interim)– S Sundar

ECONOMY & BUSINESS

Unitus Ventures Received Rs 75 Crore from SIDBI; will Strengthen the Deployment of its Fund II

i.Unitus Ventures has received an investment of Rs 75 crore (USD 10 million) under Small Industries Development Bank of India (SIDBI)’s Fund of Funds for Start-ups initiative enabled by the Government of India. 
ii.The fund will strengthen the deployment of its second Rs 300 crore fund, which was launched in 2018.
iii.Unitus Ventures has recently invested Rs 8.5 crore (USD 1.1 million) in Masai School, an ed-tech platform. This investment will continue to strengthen its job-tech portfolio
About Unitus Ventures:
Founder & Managing Partner of Capria and Unitus Ventures– Dave Richards & Will Poole
About SIDBI:
HeadOffice– Lucknow, Uttar Pradesh
Chairman & Managing Director– Mohammad Mustafa

APPOINTMENTS & RESIGNATIONS

Keith Rowley Becomes Prime Minister of Trinidad and Tobago for a 2nd Consecutive Term

On August 19, 2020 Keith Rowley(Full name- Keith Christopher Rowley) sworn in as Prime Minister of the Republic of Trinidad and Tobago for a 2nd consecutive 5 year term at the President’s House, following victory in general elections held on August 10, 2020. In addition to him, his new cabinet ministers were also sworn in. He is from the ruling People’s National Movement (PNM).
Note– The new cabinet sworn in was delayed due to requests for recounts of ballots.
Key Info
i.As per the preliminary result PNM won 22 of the 41 electoral seats, while the opposition United National Congress (UNC) led by former prime minister Kamla Persad-Bissessar won 19 seats.
ii.Keith Rowley’s cabinet consisted of young and experienced politicians like Colm Imbert, Finance minister; Franklin Khan, Minister of Energy and Energy Industries; Camille Robinson-Regis, Minister of Planning and Development and Attorney General Faris Al-Rawi.
iii.In addition to them, were Stuart Richard Young- National Security Minister, Terrence Deyalsingh-  Health Minister and Dr. Amery Browne- Minister of Foreign and CARICOM Affairs among others.
About Republic of Trinidad and Tobago:
Capital– Port of Spain
Currency– Trinidad and Tobago dollar
President– Paula-Mae Weekes O.R.T.T.,

Francisco Asue is Reappointed as the Prime Minister of Equatorial Guinea

On 19th August 2020, Francisco Pascual Eyegue Obama Asue was reappointed as the Prime Minister of the Republic of Equatorial Guinea and He was sworn in at the People’s Palace in Malabo before President Teodoro Obiang on 18th August 2020.

  • On 14th August 2020, The Asue government tendered the resignation to President Teodoro Obiang, following the criticism of the president. 
  • The government was dissolved to resolve the economic situation.

About Francisco Asue:
i.Francisco Asue was first appointed as the Prime Minister of Equatorial Guinea on 23rd June 2016.
ii.This is the third consecutive term for Francisco Asue as the Prime Minister of the Republic of Equatorial Guinea.
Key Points:
i.Equatorial Guinea, a central African oil producer, has suffered double economic shock due to the COVID-19 pandemic and the drop in the price of crude, which is the source of three quarters of the state’s revenue.
ii.According to the International Monetary Fund Figures, the country’s economy is expected to contract by 5.5% in 2020.
About Republic of Equatorial Guinea:
Prime Minister– Francisco Asue
President– Teodoro Obiang
Capital– Malabo
Currency– Central African CFA franc

SCIENCE & TECHNOLOGY

First Rockets Produced by Private Sector Successfully Test Fired: Economic Explosives Ltd (EEL)

i.In a major boost for Make in India, the first ever Pinaka rockets fully manufactured by the private sector company “Economic Explosives Ltd (EEL)” have been successfully test fired by the army at a firing range in Pokhran, Rajasthan. Six Pinaka rockets were test fired as part of the final developmental trials and are the first munition of its kind made by the private sector in India.
ii.These rockets have been manufactured on the lines of the transfer of technology (ToT) agreement between Defence Research and Development Organisation (DRDO) and private sector, five years ago.
About Economic Explosives Ltd (EEL):
EEL is a wholly owned subsidiary of Solar Industries headed by Satyanarayan Nuwal.
Headquarter– Nagpur, Maharashtra

Dwarf Planet Ceres is now an ‘Ocean World’

Researchers have given Dwarf Planet Ceres the status of an “Ocean World”. The scientists have analysed the data collected by NASA’s Dawn Spacecraft and published the findings as a series of papers in the journals Nature Astronomy, Nature Communication and Nature Geoscience. 
Key Points:
i.Studies suggest the presence of briny liquid water (saline) underneath Ceres’s surface.
ii.The findings are crucial since the ocean worlds may support life.

Iran Unveiled Locally Made Surface-to-Surface Ballistic Missile, Martyr Qassem Soleimani & Cruise Missile, Martyr Abu Mahdi

i.Amir Hatami, Iranian Defence Minister in a television speech stated that, Iran(officially the Islamic Republic of Iran)  has inaugurated a locally made surface-to-surface ballistic missile, called Martyr Qassem Soleimani, which has a range of 1,400 kilometers-km (870-mile) and a new cruise missile, called Martyr Abu Mahdi which has a range of over 1000 km(620-mile).
ii.The surface-to-surface ballistic missile is named after General Qassem Soleimani, the head of the Quds Force and  new cruise missile is named after Iraqi militia commander Mujahideen Abu Mahdi al-Muhandis. 
About Iran:
Capital– Tehran
Currency– Iranian Rial
President– Hassan Rouhani

Air Unique-quality Monitoring, an Indigenous Photonic System Developed for Real-Time Remote Monitoring of Air Quality Parameters

i.Air Unique-quality Monitoring(AUM), an indigenous photonic system for real-time remote monitoring of air quality parameters has been developed. 
ii.It was developed by  Prof. Rao Tatavarti, Director of Gayatri Vidya Parishad-Scientific and Industrial Research Centre (GVP-SIRC) & GVP College of Engineering, Visakhapatnam with the support from Department of Science and Technology’s Clean Air Research Initiative. 
iii.The system had CATS Eco-Systems, Nashik as the technology transfer partner for commercialization.

NASA observes the Slowly Splitting South Atlantic Anomaly, a dent in Earth’s Magnetic Field

NASA observes the South Atlantic Anomaly(SAA), a strange dent in Earth’s magnetic field over South America and the nearby Atlantic Ocean which was there for more than 10 years is growing and splitting this change in the magnetic field will affect the earth.
The scientists of NASA in geomagnetic, geophysics, and heliophysics research groups observe and model the SAA to monitor and predict its future changes to help with the challenges in satellite missions and humans in space.
Magnetic Field:
The magnetic field around the earth blocks of the charged particles emitted from the sun from reaching the earth.
The roots of the magnetic field are the movement of the liquid metal in the Earth’s core.
South Atlantic Anomaly(SAA):
i.Currently SAA don’t have any visible impacts on the surface.
ii.The spacecraft flying through the anomaly provides the observation on the changing features of SAA to NASA.
iii.After the retirement of the Ionospheric Connection Explorer (ICON), in 2002, it monitored the weak spots in the field which showed that the dents are moving westwards and splitting in two.
iv.This will affect the protective barrier around the earth and allow more radiations to hit the satellites over this region and will trigger occasional shutdowns to avoid potential hardware damage.

 

 
August 21, 2020 No Comments

 Revamping of Pradhan Mantri Fasal Bima Yojana

 

The frequent occurrence of rainfall deficits, dry spells, and the late onset of rainfall due to climate change have underlined the importance of crop insurance for farmers. Citing the significance of crop insurance, the union government had earlier launched the Pradhan Mantri Fasal Bima Yojana (PMFBY).

PMFBY aims to increase production in agriculture by providing support to ensure inclusive risk cover for crops of farmers against all non-preventable natural risks from pre-sowing to the post-harvest stage.

Since the launch of the PMFBY in 2016, millions of farmers have benefited from the scheme. However, in order to ensure more efficient and effective implementation of the scheme, the central government has approved the revamping of the Pradhan Mantri Fasal Bima Yojana (PMFBY).

With the revamped PMFBY 2.0, the government envisages leveraging technology in a comprehensive manner to address the issues impacting timely assessment and payment of claims.

Need for Revamping

  • Non-Voluntary Uptil Now: PMFBY has until now been a voluntary scheme only for non-loanee farmers, while mandatory for those availing crop loans from banks.
    • In the case of loanee farmers, banks have been deducting their share of the premium (2-5%) against loan accounts on a compulsory basis and remitting the same to the insurance companies.
    • Farmers haven’t taken kindly to this, not the least as the said companies are neither in direct contact with them and nor do they issue any policy certificates, unlike in car or health insurance.
    • The current scheme, it would seem, has served to provide the insurance to the loans of banks more than the crops of farmers.
  • No Upper Limit of Central Subsidy: Until now, there was no upper limit for the central subsidy and as a result of it the insurers never showed the needed willingness or intention to actively involve themselves in the scheme.
  • Huge Pendency: There has been a huge pendency of settlement of state subsidy to the insurance companies, over the last three to four seasons in several states. This has affected the timely payment of claims.
    • It will be worth mentioning here that delay in the release of the state share of subsidy is the major reason for the delay in payment of claims to farmers.

PMFBY to PMFBY 2.0

  • Completely Voluntary: It has been decided to make enrolment 100% voluntary for all farmers from 2020 Kharif.
    • From now on, insurance companies will have to make efforts to create real awareness among farmers about the benefits of crop risk coverage.
    • Crop insurance would, thus, become an informed choice for loanee farmers, just as it already is for their non-loanee counterparts.
  • Limit to Central Subsidy: The Cabinet has decided to cap the Centre’s premium subsidy under these schemes for premium rates up to 30% for unirrigated areas/crops and 25% for irrigated areas/crops.
    • This will shift the onus to the insurance companies’, as they would have to actively seek out farmers and convince them of the importance of crop insurance.
  • More Flexibility to States: The government has given the flexibility to states/UTs to implement PMFBY and given them the option to select any number of additional risk covers/features like prevented sowing, localised calamity, mid-season adversity, and post-harvest losses.
  • Penalising the Pendency: In the revamped PMFBY, a provision has been incorporated wherein if states don’t release their share before March 31 for the Kharif season and September 30 for rabi, they would not be allowed to participate in the scheme in subsequent seasons.
  • Investing in ICE Activities: Insurance companies have to now spend 0.5% of the total premium collected on information, education and communication (IEC) activities.
    • A central advisory committee has also been set up with the implementing state governments and insurance companies to ensure uniformity of message across the country and remove gaps in dissemination of information.

Way Forward

  • Awareness Generation: The changes made in the scheme are welcome but there are some challenges too. Awareness generation will be one of the major challenges in the smooth implementation of the scheme.
  • Bringing Behavioural Change: Apart from this, a lot more needs to be done in bringing about a behavioural change regarding the cost of insurance being a necessary input and not a money-back investment.

Conclusion

With the revamping of PMFBY, the entire effort of the government is to ensure transparent and timely assessment of the yield, and quick computation and payment of claims to the farmers, to realise the goal of Atmanirbhar Krishi in general and Atmanirbhar Farmers in particular.

Further, the voluntariness and the time-bound implementation of crop insurance under the revamped PMFBY will help it become a true insurance scheme now.

Pradhan Mantri Fasal Bima Yojana (PMFBY) and the success story so far

  • The Pradhan Mantri Fasal Bima Yojana was launched in 2016 by the Ministry of Agriculture and Farmers Welfare.
  • It is a replacement scheme of the National Agriculture Insurance Scheme (NAIS) and the Modified National Agriculture Insurance Scheme (MNAIS)
  • Under this scheme there will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%. The rest of the premium will be borne by the Government.
  • It aims to provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crops as a result of natural calamities, pests & diseases.
  • PMFBY aims to support production in agriculture by providing support to ensure inclusive risk cover for crops of farmers against all non-preventable natural risks from pre-sowing to the post-harvest stage.
  • Since the launch of the PMFBY in 2016, millions of farmers have benefited from the scheme. In the first three years, farmers paid Rs 13,000 crore as premium, while they received Rs 60,000 crore as insurance claim under PMFBY.
  • The scheme has completed four years and has been implemented in 27 states and UTs.The sum insured has almost doubled under this scheme from Rs 22,000 per hectare to Rs 39,000 per hectare.
August 20, 2020 No Comments

We are here for you to provide the important Recent and Latest Current Affairs 20 August 2020, which have unique updates of Latest Current Affairs 2020 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

 

NATIONAL AFFAIRS

Vice Prez Venkaiah Naidu Virtually Announced ARIIA 2020 Results; IIT Madras Topped among Institutes of National Importance

i.On August 18, 2020, Vice-President of India, Muppavarapu Venkaiah Naidu has e-released the Atal Ranking of Institutions on Innovation Achievements (ARIIA) 2020 from New Delhi. He was the chief of the virtual ceremony while Union Minister of Education, Ramesh Pokhriyal ‘Nishank’ and Minister of State (MoS) for Education Sanjay Shamrao Dhotre were the Guest of Honour.
ii.The ranking were announced in six categories. Indian Institute of Technology (IIT) Madras topped the category of Institute of National Importance while Kalinga Institute of Industrial Technology (KIIT), Khordha (Odisha) topped the category of Private or Self-Financed Universities.
iii.For the first time, ARIIA 2020 had a special prize category for women only higher educational institutions.

‘Dhanwantari Rath’ to bring Ayurveda at Doorsteps of Delhi Police Families

 i.On 18th August, 2020 a Memorandum of Understanding (MoU) was signed between All India Institute of Ayurveda (AIIA) and Delhi Police for extending ayurvedic mode of preventive and promotive health services in the residential colonies of the Delhi Police through mobile units named ‘Dhanwantari Rath’.
ii.The service ‘Dhanwantari Rath’ and Police Wellness Centres will be catered by AIIA, supported by the Ministry of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy (AYUSH). 
About AYUSH:
Minister of State (Independent Charge) – Shripad Yesso Naik
Headquarters – New Delhi

Ravi Shankar Prasad Launched “Swadeshi Microprocessor Challenge- Innovate Solutions for #Aatmanirbhar Bharat” to Support Startups

 i.On 18th August 2020, Ravi Shankar Prasad, Union Minister of Law & Justice, Communications and Electronics & Information Technology launched the “Swadeshi Microprocessor Challenge- Innovate Solutions for #Aatmanirbhar Bharat” to provide a strong ecosystem of startups, innovation and research in India.
ii.Swadeshi Microprocessor Challenge is a part of the series of Effective, advanced and standardized measures taken by the ministry of Electronics and IT to enhance the technology guided innovative ecosystem in India and to stay on top of digital adoption.
About Ministry of Electronics & Information Technology(MeitY):
Union Minister–  Ravi Shankar Prasad
Minister of State– Sanjay Dhotre

Ministry of Tribal Affairs and Ministry of Rural Development Inked MoU to Take convergence endeavour ahead

i.On August 18, 2020, Union Minister of Rural Development and Agriculture and Farmers Welfare Narendra Singh Tomar addressed the State Rural Livelihoods Missions across the country through video conferencing. 
ii.During the occasion, the Ministry of Tribal Affairs (MoTA) and Ministry of Rural Development (MoRD) signed an memorandum of understanding (MoU) to take the convergence endeavor (efforts of both ministries) ahead and support rural poor including tribal communities.
iii.Narendra Singh Tomar also released a book “Farm Livelihood Interventions under DAY-NRLM (Strategy, Convergence Framework, Models)”.
Static GK:
Minister of State (MoS) for Ministry of Tribal Affairs (MoTA)- Renuka Singh Saruta
MoS for Ministry of Rural Development (MoRD)- Sadhvi Niranjan Jyoti
MoS for Ministry of Food Processing Industries (MoFPI)- Rameswar Teli

AIFF signs MoU with IPSO to Conduct Online Scouting Workshops in India

On 18th August, 2020, All India Football Federation(AIFF) signed an Memorandum of Understanding(MoU) with International Professional Scouting Organization (IPSO) to conduct online Scouting Workshops throughout India.
Workshop:
i.Under the agreement, IPSO will conduct online workshops which will provide a number of courses and webinars with regards to scouting in India.
ii.The workshop will be a starting point to become a scout or an analyst and will also help anyone to understand the foundations and protocols in talent identification, scouting & analysis.
iii.The first part of these workshops are scheduled to take place from September 7 to 11. It will be a two-hour session starting at 7 pm every day.
Recent Related News:
i.The Hero Indian Super League (ISL) joins the World Leagues Forum (WLF), the association of Professional football leagues. It is the first league from South Asia and seventh in Asia to join the WLF.
ii.On 13th July 2020, the 70 years old Legendary Hockey Player Ashok Kumar, key player of the 1975 World Cup winning Indian Hockey team was honoured with the Lifetime achievement award by the Kolkata based football club – Mohun Bagan Athletic Club on its foundation day over the virtual ceremony.
About AIFF:
President – Praful Patel
Headquarters – Delhi

INTERNATIONAL AFFAIRS

ILO-ADB Report: 41 Lakh Youths Lost Their Jobs of India Due to COVID-19

i.On 18th August 2020, The International Labour Organization (ILO) and the Asian Development Bank (ADB) released the joint report titled “Tackling the Covid-19 youth employment crisis in Asia and the Pacific”, which stated that due to the COVID-19 pandemic, around 41 lakh youths have lost their jobs in India.
ii.The report assesses the impacts of the COVID-19 pandemic on the youth employment in Asia and Pacific regions and recommends critical policy responses.
iii.The report is based on the regional assessment of the “Global Survey on Youth and COVID-19” and the available unemployment data in different countries.
About ADB:
President– Masatsugu Asakawa
Headquarters– Metro Manila, Philippines
Motto– Committed to achieving a prosperous, inclusive, resilient and sustainable Asia & the Pacific, while sustaining its efforts to eradicate extreme poverty.
About International Labor Organization (ILO):
Director-General– Guy Ryder
Headquarters– Geneva, Switzerland

BANKING & FINANCE

ADB Approved USD 1 billion loan for Delhi-Meerut Regional Rapid Transit System, a 1st of its kind in India

i.The Asian Development Bank (ADB) has approved a USD 1 billion (about Rs 7,485 crore) loan to construct the modern, high-speed 82-kilometer Delhi – Meerut, Uttar Pradesh Regional Rapid Transit System (RRTS) in India, a first of its kind in India. 
ii.The finance of the Delhi- Meerut RRTS project will be given in 4 tranches between August 2020 and May 2025. 
iii.The NCR Transport Corporation (NCRTC) will execute the project. 
About ADB
Headquarters– Mandaluyong, Philippines 
President– Masatsugu Asakawa
Members- 68 countries

 

RBI Released Framework for Authorisation of Pan-India Umbrella Entity for Retail Payments

i.On August 18, 2020, Reserve Bank of India (RBI) released the “Framework for authorisation of pan-India Umbrella Entity for Retail Payments” on the lines of the feedback received on the “draft framework for authorisation of a pan-India New Umbrella Entity for Retail Payment Systems” which was placed on Reserve Bank’s website on February 10, 2020 for public comments. 
ii.The entity will be incorporated under Companies Act, 2013 and may be a for-profit or a Section 8 Company. It will be authorized by RBI under Section 4 of the Payment and Settlement Systems (PSS) Act, 2007
iii.The minimum paid-up capital of the umbrella entity should be Rs 500 crore.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).
 

RBI Released Draft Framework for Self-Regulatory Body for Payment System Operators

i.On August 18, 2020, the Reserve Bank of India (RBI) released a draft framework for grant of recognition to an industry association as a Self-Regulatory Organisation (SRO) for Payment System Operators (PSOs). This draft framework is released on the lines of an announcement in the Statement on Developmental and Regulatory policies issued as part of the Monetary Policy statement dated February 6, 2020. The framework is placed for public comments till September 15, 2020.
ii.Notably, SRO will serve as a watchdog to guard against unprofessional practices within an industry or profession.
iii.This decision has been taken because there is substantial growth in digital payments and an entity is required for orderly operations of the entities in the payment system.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed). 

Bharti AXA Life Insurance Entered into Bancassurance Partnership with SBM Bank India

i.Bharti AXA Life Insurance has entered into a bancassurance partnership with SBM Bank (India) Limited (SBM Bank India). 
ii.Through this partnership, Bharti AXA Life Insurance will offer its entire suite of life insurance products, including protection, health, savings and investment plans, to the customers of SBM Private Wealth, the retail banking arm of SBM Bank India.
iii.It will benefit the people in the following cities-Mumbai, New Delhi, Chennai, Bengaluru, Hyderabad and Ramachandrapuram.
About SBM Bank India
Headquarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Sidharth Rath
About Bharti AXA Life Insurance
HeadOffice- Mumbai, Maharashtra
MD & CEO– Parag Raja 

Fino Payments Bank Ltd Launched ‘Jan Bachat Khata’, an Aadhaar Authentication Based Digital Savings Account

i.Fino Payments Bank Limited(Ltd) launched Jan Bachat Khata (JBK), an Aadhaar authentication based digital savings account for its customers. JBK will bring neo-banking experience to the consumers. 
ii.The primary target segment is low income household families and direct benefit transfer (DBT) beneficiaries.
iii.JBK is in line with the bank’s customer centric innovative offerings.
iv.The customers can open a JBK account only through  Aadhaar-based eKYC(Electronic-Know Your Customer) mode.
About Fino Payments Bank Limited:
Headquarters– Maharashtra 
MD & CEO– Rishi Gupta

Universal Sompo General Insurance Company Ltd Collaborates with BSE EBIX  to sell General Insurance products

 i.Universal Sompo General Insurance Company Ltd has collaborated with BSE EBIX  Insurance Broking Private Limited (BSE EBIX ) to sell General Insurance products in a fully digital environment using the distribution network of BSE EBIX. 
ii.The partnership was initiated with the issuance of the recently launched Corona Kavach cover of Universal Sompo General Insurance Company Ltd through certified Point of Sales Persons (PoSPs) of BSE EBIX.
About Universal Sompo General Insurance Company Ltd:
Headquarters– Mumbai, Maharashtra
MD & CEO– Sharad Mathur
 

Edelweiss Tokio Life Insurance Partnered with Element AI for AI Transformation

Edelweiss Tokio Life Insurance Company Limited has partnered with Element AI, a global developer of AI (Artificial Intelligence)-powered solutions and products, to develop, design and implement a strategic AI roadmap for the new age insurer and prioritise their investments into AI.

  • The roadmap will ultimately support a detailed AI transformation plan.

Key Info
i.To serve the purpose, the Element AI Advisory and Enablement team will work closely with Edelweiss Tokio Life Insurance.
ii.This work will use unique learnings and insights from Element AI to establish technical feasibility and identify AI use cases.
Significance of the partnership
The partnership will solve the challenges faced by insurers globally in meeting evolving customer expectations and optimizing processes efficiently.
About Edelweiss Tokio Life Insurance Company Limited:
Headquarters– Mumbai, Maharashtra
Managing Director & Chief Executive Officer– Sumit Rai
About Element AI:
CEO & Founder– Jean-François (JF) Gagné
Headquarter – Montreal,Canada.

 

YES Bank in Partnership with KFin Technologies Launched ‘Loan against Securities’ to Provide Complete Digital loan Against Mutual Fund

Yes Bank in partnership with KFin Technologies Private Limited has launched ‘Loan against Securities’, a unique digital solution that enables customers to lien mark their mutual funds digitally and avail quick and hassle-free loans. The digital solution is launched under YES BANK’s ‘Loan in Seconds’ platform, which allows the customers to set an instant credit limit against securities held.

  • The partnership will enable customers to lien mark their mutual funds by authenticating two validations from the bank and two validations from the KFin technologies.

Key Info
By enhancing the robust technology and analytics of Yes Bank and with the help of algorithmic processes which offer customised solutions, real time online loan application processes will take place offering uninterrupted experience for customers. 
Features of ‘Loan against Securities’
No Documentation– It allows instant disbursements of loans with no documentation.
Loan Upto 1 crore– Customers can avail loan of up to Rs 1 crore against debt mutual funds and can set an instant credit limit against the securities held.
Interest charged– Interest is charged only for the loan amount which is utilized for the number of days of utilization.
Recent Related News:
i.Yes Bank launches a digital wallet solution(app)‘Yuva Pay’ in partnership with UDMA Technologies Pvt Ltd to enable contactless payments for its customers. The wallet is issued under minimum Know Your Client (KYC) regulations.
ii.Max Life Insurance and YES Bank have extended their 15 years strategic bancassurance partnership for fivemore years. In this regard, the both companies dedicated the current financial year i.e. FY 2020-21 as the “Year of the Customer”.
About Yes Bank:
Headquarters– Mumbai, Maharashtra
MD & CEO– Prashant Kumar
Tagline– Experience our Expertise
About KFin Technologies 
Headquarters– Hyderabad, Telangana 
CEO– Sreekanth Nadella

    APPOINTMENTS & RESIGNATIONS  

Luis Rodolfo Abinader sworn in as 54th President of Dominican Republic

Luis Rodolfo Abinader Corona has been sworn in as the 54th President of Dominican Republic. Luis Rodolfo Abinader is a businessman who has never held any other elected office. He succeeds Danilo Medina of Liberation Party.

i.The 53-year old Luis Rodolfo Abinader was elected to the four-year term on July 5, which ended the 16-year run in power by the Center-Left Dominican Liberation Party (PLD). He finished second in the 2016 President election.
ii.Abinader’s Modern Revolutionary Party (PRM) won the elections with 53% vote, while Gonzalo Castillo who was the candidate of the ruling PLD got 37.7%.
iii.The swearing-in ceremony was attended by US Secretary of State Mike Pompeo.
About Dominican Republic:
Capital – Santo Domingo
Currency – Dominican Peso.

Ashok Lavasa Resigns as Election Commissioner

On August 18, 2020, Ashok Lavasa , one of the two Election Commissioners of India resigned from his post inorder to take charge as the Vice President of Asian Development Bank (ADB) next month. 
i.Lavasa still had over two years left in his term at the Election Commission of India and would have retired as the Chief Election Commissioner (CEC) in October 2022.
ii.He assumed charge as Election Commissioner of India on 23rd January, 2018.
iii.Ashok Lavasa is a retired Indian Administrative Service (IAS) officer of Haryana Cadre (Batch 1980) and has served several stints in various government departments such as Union Finance Secretary, Union Secretary Ministry of Environment, Forests & Climate Change and Ministry of Civil Aviation.
Vice-President of Asian Development Bank (ADB):
On 15th July, 2020, ADB had appointed Ashok Lavasa as Vice-President for Private Sector Operations and Public-Private Partnerships on 15th July, 2020.He will succeed Diwakar Gupta, whose term will end on August 31.
Recent Related News:
i.On June 30, 2020 Ravinder Bhakar, a 1999 batch officer of Indian Railway Stores Service(IRSS), assumed charge as the Chief Executive Officer(CEO) of Central Board of Films Certification(CBFC).
ii.Karnam Sekar, The Managing Director (MD) and Chief Executive Officer(CEO) of Indian Overseas Bank(IOB), retired on 30th June 2020.
About Election Commission of India:
The Election Commission of India is headed by One Chief Election Commissioner and Two Election Commissioners.
Chief Election Commissioner – Sunil Arora
Election Commissioner – Sushil Chandra
Election Commissioner – vacant

Mali President Ibrahim Boubacar Keita Resigns after Military Mutiny

On 19th August, 2020, Mali President Ibrahim Boubacar Keita announced his resignation with immediate effect following a military mutiny in the Republic of Mali.
i.Ibrahim Boubacar Keita served as sixth President of Republic of Mali from 2013-2018 & was reelected in 2018 as the President. 
ii.Boubacar represents the Political Party Rally for Mali(RPM) and has served as the sixth Prime Minister of Mali from 1994-2000.
iii.The June 5-Rally of Patriotic Forces Movement (Mouvement du 5 juin Rassemblement des Forces Patriotiques or M5-RFP) has been heading the protests against Ibrahim Boubacar Keita, owing to discontent over refusal to raise wages of Teachers and Doctors and also due to corruption by Ibrahim Boubacar Keita.  
About Mali: 
Capital – Bamako 
Currency – West African CFA franc.

ACQUISITIONS & MERGERS

Reliance Retail Ventures Ltd Acquired 60% stake in Vitalic Health Pvt Ltd & 100% direct ownership of Netmeds

 

Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Limited (RIL) has acquired 60% equity stake in Vitalic Health Pvt Ltd(Vitalic) and 100% direct equity ownership of its subsidiaries namely Tresara Health Private Limited, Netmeds MarketPlace Limited and Dadha Pharma Distribution Pvt Limited(collectively known as Netmeds)for a cash consideration of around Rs 620 crore(USD 83.08 million). The deal values Netmeds around Rs 1,000 crore.

  • RRVL’s investment is aligned with its commitment to provide digital access to everyone in India

Advantages of Acquisition:
The acquisition of Netmeds will enhance the ability of RRVL to provide good quality and affordable health care products and services and also expands its digital commerce proposition to include most of the everyday essential needs of consumers
Key Info about Netmeds
i.Netmeds is a fully  licensed e-pharma portal that offers authenticated prescription and Over-The- Counter (OTC) medicine along with other health products in India.
ii.It offers a pan-India solution for the online purchase of prescription medications to over 20,000 pin codes.
iii.It is promoted by Dadha Pharma, a Chennai-based company.
About RRVL:
HeadOffice– Mumbai, Maharashtra
Executive Director–  V. Subramaniam
About Netmeds:
Headquarters– Chennai, Tamil Nadu
Founder & CEO– Pradeep Dadha 


SCIENCE & TECHNOLOGY

Indian Railways Introduces Drone Based Surveillance System for Railway Security

i.Indian Railways introduces Drone based surveillance technologies which has emerged as an important and cost effective tool for security surveillance over a large area with limited manpower.
ii.Central Railway’s Mumbai Division of the Indian Railways procured 2 Ninja Unmanned Aerial Vehicles(UAV) to increase the security and surveillance in the Railway premises like the station, tracks, yards and workshops.
UNESCO World Heritage Centre: Mountain Railways of India – Darjeeling Himalayan Railway , Nilgiri Mountain Railway
Museum: National Rail Museum and Metro Museum(Delhi), Joshi’s Museum of Miniature Railways(Pune), Howrah Railway Museum(Kolkata), Chennai Rail Museum(Chennai), Railway Museum(Mysuru) and Hubballi Railway Museum(Karnataka)

 
 
 
 

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