Monthly Current Affairs December 2020

FINANCE AND BANKING

• RBI extends curbs on Madgaum Urban Cooperative Bank
  • RBI has extended the financial sanctions imposed on Madgaum Urban Cooperative Bank (TMUCB) till March 2.

• RBI elevates rural banks while booting risk framework
  • The central bank seeks to both broaden and deepen the size and scope of its financial systems by offering enhanced roles and frameworks to two extreme ends of the complexity spectrum - regional rural banks and credit default swaps (CDS).

• RBI stops HDFC Bank from digital launches, sourcing of new credit card customers
  • RBI has asked HDFC Bank to temporarily stop all launches of the digital business generating activities and sourcing of new credit card customers.

ECONOMY

• CCI approves acquisition of shares of OPGC by OHPC
  • The Competition Commission of India (CCI) approves acquisition of shares of Odisha Power Generation Corporation Ltd (OPGC) by Odisha Hydro Power Corporation Limited (OHPC) under Section 31(1) of the Competition Act, 2002.

• RBI holds repo rate to boost growth, ignores inflation
  • Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy committee (MPC) meeting held in December 2020, has left key rates unchanged and stayed with its accommodative stance despite forecasting much higher inflation in the months ahead Repo rate has been unchanged at 4% while Reverse repo rate was kept unchanged at 3.35% and MSF rate remains at 4.25%

• Export decline steepens in November at 9.07%
  • Trade deficit was $9.96 billion in November 2020, as per the preliminary data released by the commerce and industry ministry India’s exports fell 9.07% on year in November 2020, steeper than 5.12% in October 2020, to $23.43 billion.

NATIONAL

• 5-member panel formed to oversee construction of new Parliament building
  • The Centre has formed a five-member committee to oversee construction of the new Parliament house and to ensure heritage and aesthetics of the complex are maintained.
  • The committee would act as the bridge between the Lok Sabha Secretariat and private contractor.

• India records largest reductions in malaria cases in South-East Asia: WHO
  • According to the World Health Organization’s (WHO) World Malaria Report 2020, India accounted for the largest absolute reduction in malaria cases in South-East Asia, from approximately 20 million cases in 2000 to 5.6 million in 2019.

• Govt. announces Rs 900 crore package for COVID-19 Vaccine Development Mission
  • The Centre has announced the third stimulus package of Rs 900 crore for the Mission COVID Suraksha- The Indian COVID-19 Vaccine Development Mission.

INTERNATIONAL

• Singapore’s hawkers gets recognised by UNESCO
  • Singapore’s hawker food culture gets recognised by UNESCO. The hawker culture got inducted to the UNESCO List of Intangible Cultural Heritage of Humanity.

• Global Terrorism Index 2020
  • The Institute for Economics & Peace (IEP) in collaboration with the National Consortium for the Study of Terrorism and Responses to Terrorism (START) led by the University of Maryland has released its Global Terrorism Index 2020 report.
  • The GTI 2020 ranks India as 8th in the world on a list of countries most affected by terrorism in 2019, on the basis of its score on the GTI 7.353.

• China Becomes Second Country in History to Plant a Flag on the Moon
  • Over 50 years after the United States planted the first human flag on the moon, China has become the second country to leave a flag on the lunar surface. The flag, representing China, is 2 m wide and 90 cm tall.

STATES

• West Bengal Launches "Duare Sarkar" Outreach Campaign
  • West Bengal government launched its massive outreach programme "Duare Sarkar" (government at doorsteps) to ensure that people avail the benefits of 11 state-run welfare schemes.

• State to get waste-to-energy plant in 2022
  • Karnataka Chief Minister B.S. Yediyurappa laid the foundation, remotely, for a waste-to-energy (WtE) plant at Bidadi, being developed by Karnataka Power Corporation Ltd (KPCL).

• Uttrakhand CM launched Rs 50 crore Suryadhar lake
  • Uttrakhand Chief Minister Trivendra Singh Rawat inaugurated the Suryadhar Lake in Doiwala, Dehradun.

SCIENCE AND TECHNOLOGY

• Pixxel to launch remote-sensing satellite on ISRO rocket in early 2021
  • Pixxel, a private satellite-imaging company, will launch its first remote-sensing satellite on the Indian Space Research Organisation workhorse rocket Polar Satellite Launch Vehicle (PSLV) in early 2021.

• Department of Space enters into pact with Agnikul Cosmos for launch vehicle development program
  • Department of Space entered into a Non-Disclosure Agreement (NDA) with Agnikul Cosmos Pvt. Ltd, a Chennai based start-up located in the National Centre for combustion R&D, IIT Madras, which builds small private satellite launch vehicle.

• SpaceX launches next-generation Dragon cargo ship to space station
  • SpaceX's next-generation, uncrewed Dragon 2 cargo ship has docked on the International Space Station for the aerospace company's 21st contracted commercial resupply mission.

AGRICULTURE AND RURAL DEVELOPMENT

• Cotton exports likely to jump 40% in 2020-21
  • According to South India Mills Association (SIMA) Cotton exports are likely to jump 40% in 2020-21 to 7 million bales, the highest in seven years, as depreciation of the rupee and a rally in global prices have allowed exporters to clinch contracts.

• NTPC launches Green Charcoal Hackathon
  • To fast-track the technology development, (NTPC VidyutVyapar Nigam) NVVN, in partnership with EESL organises technology challenge aptly named as Green Charcoal Hackathon.

• Amul has become world’s 8th largest milk processor
  • Home grown dairy giant Anand Milk Union Limited (Amul) has emerged as the 8th largest milk processor globally in the list of top 20 released by International Farm Comparison Network (IFCN), a global dairy research network

DEFENCE

• India test-fires anti-ship version of BrahMos supersonic cruise missile in Andaman & Nicobar
  • India successfully test-fired anti-ship version of BrahMos supersonic cruise missile in Andaman and Nicobar Islands. The test comes on the backdrop of a series of missile launches in the recent past.

• IAF carries out firing of Akash and Igla missiles in Suryalanka
  • The Indian Air Force has carried out firing of the indigenously developed Akash missile system along with Russian short-range Igla missiles as part of a drill at air force station Suryalanka in Andhra Pradesh.

• PASSEX conducted by Indian Navy and Russian Navy
  • The Indian Navy (IN) is undertaking a Passage Exercise (PASSEX) with Russian Federation Navy (RuFN) in the Eastern Indian Ocean Region (IOR) from 4 to 5 December 2020.

EVENTS

• PM Modi to deliver keynote address at IIT 2020 Global Summit
  • Prime Minister Narendra Modi will be delivering a keynote address at the IIT-2020 Global Summit, organised by PanIIT USA.

• PM addresses India Mobile Congress 2020
  • PM Modi addressed the virtual India Mobile Congress (IMC) 2020 through video conference.
  • The theme for IMC 2020 is "Inclusive Innovation - Smart, Secure, Sustainable”.

• 7th meeting of India-Mongolia Joint Committee on Cooperation
  • The seventh meeting of the India-Mongolia Joint Committee on Cooperation was held virtually between External Affairs Minister (EAM) Dr S Jaishankar and Chief Cabinet Secretary of Mongolia L Oyun-Erdene, wherein the two ministers held comprehensive discussions on the range of issues covering bilateral cooperation.

AWARDS AND REWARDS

• Adar Poonawalla, CEO of Serum Institute, named 'Asian of the Year'
  • Adar Poonawalla, the chief executive of the world's largest vaccine manufacturer Serum Institute of India, is among six people named "Asians of the Year" by Singapore's leading daily, The Straits Times for their work in fighting the COVID-19 pandemic.

• Rabindranath Tagore Literary Prize 2020
  • Writer and chief editor of The Indian Express, Raj Kamal Jha, has won the Rabindranath Tagore Literary Prize 2020 for his book, The City and the Sea.

• Maharashtra teacher wins Global Teacher Prize 2020
  • Ranjith Disale, a 32-year-old Indian primary school teacher from Maharashtra awarded the title of Global Teacher Prize 2020 along with USD 1 million.

SPORTS

• Cricket: Virat Kohli fastest to 12,000 ODI runs
  • Virat Kohli becomes the fastest player in ODI cricket to score 12,000 runs. The India skipper achieved the record in the third and final ODI against Australia in Canberra.

• Lewis Hamilton wins Bahrain Grand Prix
  • Lewis Hamilton celebrated his seventh world championship by winning a Bahrain Grand Prix.
  • Red Bull's Max Verstappen finished second.

• Jehan Daruvala becomes first Indian to win a Formula 2 race
  • Jehan Daruvala became the first Indian to win a Formula 2 race during the Sakhir Grand Prix. Jehan drived for Rayo Racing.

" >

FINANCE AND BANKING

• RBI extends curbs on Madgaum Urban Cooperative Bank
  • RBI has extended the financial sanctions imposed on Madgaum Urban Cooperative Bank (TMUCB) till March 2.

• RBI elevates rural banks while booting risk framework
  • The central bank seeks to both broaden and deepen the size and scope of its financial systems by offering enhanced roles and frameworks to two extreme ends of the complexity spectrum - regional rural banks and credit default swaps (CDS).

• RBI stops HDFC Bank from digital launches, sourcing of new credit card customers
  • RBI has asked HDFC Bank to temporarily stop all launches of the digital business generating activities and sourcing of new credit card customers.

ECONOMY

• CCI approves acquisition of shares of OPGC by OHPC
  • The Competition Commission of India (CCI) approves acquisition of shares of Odisha Power Generation Corporation Ltd (OPGC) by Odisha Hydro Power Corporation Limited (OHPC) under Section 31(1) of the Competition Act, 2002.

• RBI holds repo rate to boost growth, ignores inflation
  • Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy committee (MPC) meeting held in December 2020, has left key rates unchanged and stayed with its accommodative stance despite forecasting much higher inflation in the months ahead Repo rate has been unchanged at 4% while Reverse repo rate was kept unchanged at 3.35% and MSF rate remains at 4.25%

• Export decline steepens in November at 9.07%
  • Trade deficit was $9.96 billion in November 2020, as per the preliminary data released by the commerce and industry ministry India’s exports fell 9.07% on year in November 2020, steeper than 5.12% in October 2020, to $23.43 billion.

NATIONAL

• 5-member panel formed to oversee construction of new Parliament building
  • The Centre has formed a five-member committee to oversee construction of the new Parliament house and to ensure heritage and aesthetics of the complex are maintained.
  • The committee would act as the bridge between the Lok Sabha Secretariat and private contractor.

• India records largest reductions in malaria cases in South-East Asia: WHO
  • According to the World Health Organization’s (WHO) World Malaria Report 2020, India accounted for the largest absolute reduction in malaria cases in South-East Asia, from approximately 20 million cases in 2000 to 5.6 million in 2019.

• Govt. announces Rs 900 crore package for COVID-19 Vaccine Development Mission
  • The Centre has announced the third stimulus package of Rs 900 crore for the Mission COVID Suraksha- The Indian COVID-19 Vaccine Development Mission.

INTERNATIONAL

• Singapore’s hawkers gets recognised by UNESCO
  • Singapore’s hawker food culture gets recognised by UNESCO. The hawker culture got inducted to the UNESCO List of Intangible Cultural Heritage of Humanity.

• Global Terrorism Index 2020
  • The Institute for Economics & Peace (IEP) in collaboration with the National Consortium for the Study of Terrorism and Responses to Terrorism (START) led by the University of Maryland has released its Global Terrorism Index 2020 report.
  • The GTI 2020 ranks India as 8th in the world on a list of countries most affected by terrorism in 2019, on the basis of its score on the GTI 7.353.

• China Becomes Second Country in History to Plant a Flag on the Moon
  • Over 50 years after the United States planted the first human flag on the moon, China has become the second country to leave a flag on the lunar surface. The flag, representing China, is 2 m wide and 90 cm tall.

STATES

• West Bengal Launches "Duare Sarkar" Outreach Campaign
  • West Bengal government launched its massive outreach programme "Duare Sarkar" (government at doorsteps) to ensure that people avail the benefits of 11 state-run welfare schemes.

• State to get waste-to-energy plant in 2022
  • Karnataka Chief Minister B.S. Yediyurappa laid the foundation, remotely, for a waste-to-energy (WtE) plant at Bidadi, being developed by Karnataka Power Corporation Ltd (KPCL).

• Uttrakhand CM launched Rs 50 crore Suryadhar lake
  • Uttrakhand Chief Minister Trivendra Singh Rawat inaugurated the Suryadhar Lake in Doiwala, Dehradun.

SCIENCE AND TECHNOLOGY

• Pixxel to launch remote-sensing satellite on ISRO rocket in early 2021
  • Pixxel, a private satellite-imaging company, will launch its first remote-sensing satellite on the Indian Space Research Organisation workhorse rocket Polar Satellite Launch Vehicle (PSLV) in early 2021.

• Department of Space enters into pact with Agnikul Cosmos for launch vehicle development program
  • Department of Space entered into a Non-Disclosure Agreement (NDA) with Agnikul Cosmos Pvt. Ltd, a Chennai based start-up located in the National Centre for combustion R&D, IIT Madras, which builds small private satellite launch vehicle.

• SpaceX launches next-generation Dragon cargo ship to space station
  • SpaceX's next-generation, uncrewed Dragon 2 cargo ship has docked on the International Space Station for the aerospace company's 21st contracted commercial resupply mission.

AGRICULTURE AND RURAL DEVELOPMENT

• Cotton exports likely to jump 40% in 2020-21
  • According to South India Mills Association (SIMA) Cotton exports are likely to jump 40% in 2020-21 to 7 million bales, the highest in seven years, as depreciation of the rupee and a rally in global prices have allowed exporters to clinch contracts.

• NTPC launches Green Charcoal Hackathon
  • To fast-track the technology development, (NTPC VidyutVyapar Nigam) NVVN, in partnership with EESL organises technology challenge aptly named as Green Charcoal Hackathon.

• Amul has become world’s 8th largest milk processor
  • Home grown dairy giant Anand Milk Union Limited (Amul) has emerged as the 8th largest milk processor globally in the list of top 20 released by International Farm Comparison Network (IFCN), a global dairy research network

DEFENCE

• India test-fires anti-ship version of BrahMos supersonic cruise missile in Andaman & Nicobar
  • India successfully test-fired anti-ship version of BrahMos supersonic cruise missile in Andaman and Nicobar Islands. The test comes on the backdrop of a series of missile launches in the recent past.

• IAF carries out firing of Akash and Igla missiles in Suryalanka
  • The Indian Air Force has carried out firing of the indigenously developed Akash missile system along with Russian short-range Igla missiles as part of a drill at air force station Suryalanka in Andhra Pradesh.

• PASSEX conducted by Indian Navy and Russian Navy
  • The Indian Navy (IN) is undertaking a Passage Exercise (PASSEX) with Russian Federation Navy (RuFN) in the Eastern Indian Ocean Region (IOR) from 4 to 5 December 2020.

EVENTS

• PM Modi to deliver keynote address at IIT 2020 Global Summit
  • Prime Minister Narendra Modi will be delivering a keynote address at the IIT-2020 Global Summit, organised by PanIIT USA.

• PM addresses India Mobile Congress 2020
  • PM Modi addressed the virtual India Mobile Congress (IMC) 2020 through video conference.
  • The theme for IMC 2020 is "Inclusive Innovation - Smart, Secure, Sustainable”.

• 7th meeting of India-Mongolia Joint Committee on Cooperation
  • The seventh meeting of the India-Mongolia Joint Committee on Cooperation was held virtually between External Affairs Minister (EAM) Dr S Jaishankar and Chief Cabinet Secretary of Mongolia L Oyun-Erdene, wherein the two ministers held comprehensive discussions on the range of issues covering bilateral cooperation.

AWARDS AND REWARDS

• Adar Poonawalla, CEO of Serum Institute, named 'Asian of the Year'
  • Adar Poonawalla, the chief executive of the world's largest vaccine manufacturer Serum Institute of India, is among six people named "Asians of the Year" by Singapore's leading daily, The Straits Times for their work in fighting the COVID-19 pandemic.

• Rabindranath Tagore Literary Prize 2020
  • Writer and chief editor of The Indian Express, Raj Kamal Jha, has won the Rabindranath Tagore Literary Prize 2020 for his book, The City and the Sea.

• Maharashtra teacher wins Global Teacher Prize 2020
  • Ranjith Disale, a 32-year-old Indian primary school teacher from Maharashtra awarded the title of Global Teacher Prize 2020 along with USD 1 million.

SPORTS

• Cricket: Virat Kohli fastest to 12,000 ODI runs
  • Virat Kohli becomes the fastest player in ODI cricket to score 12,000 runs. The India skipper achieved the record in the third and final ODI against Australia in Canberra.

• Lewis Hamilton wins Bahrain Grand Prix
  • Lewis Hamilton celebrated his seventh world championship by winning a Bahrain Grand Prix.
  • Red Bull's Max Verstappen finished second.

• Jehan Daruvala becomes first Indian to win a Formula 2 race
  • Jehan Daruvala became the first Indian to win a Formula 2 race during the Sakhir Grand Prix. Jehan drived for Rayo Racing.