Monthly Current Affairs October 2020

FINANCE AND BANKING

• Banks to deploy on-tap TLTRO funds in 6 sectors
  • During the Bi-monthly Monetary Policy Committee (MPC) meeting, the RBI announced that it would conduct on-tap targeted long-term repo operations (TLTRO) worth Rs 1 lakh crore.
  • Recently the RBI has clarified that the banks can deploy money drawn from TLTRO in six sectors- agriculture, agri-infrastructure, secured retail, MSMEs, drugs, pharmaceuticals and healthcare.

• MCX Launches India's First Base Metals Futures Index- METLDEX
  • Multi Commodity Exchange (MCX) has recently launched Base Metals Index 'METLDEX'.
  • This index will track the real-time performance of a basket of MCX Base Metal (near month) futures, viz. zinc, copper, nickel, lead, and aluminium.

• DBS Named Asia's Safest Bank for 12th Consecutive Year
  • DBS Bank has been named the 'Safest Bank in Asia' for the 12th consecutive year by New York-based trade publication Global Finance.
  • Global Finance has named the State Bank of India as the Safest Bank in India.

• EXIM Bank allows $310 million LoC to Republic of Zimbabwe
  • Export-Import (Exim) Bank has allowed a Line of Credit (LoC) of USD 310 million on behalf of the Government of India.
  • This LoC will be utilised to finance repowering of Hwange Thermal Power Station.

• RBI imposes Rs 1 crore fine on Jio Payments Bank
  • Reserve Bank of India imposed a penalty of Rs 1 crore on Reliance Jio Payments Bank Limited for non-compliance with RBI directions on timely submission of application in the case of re-appointment of Managing Director and Chief Executive Officer (MD & CEO).

ECONOMY

• SBI signs $1 billion loan deal with Japan Bank for Intl Cooperation
  • State Bank of India (SBI) has signed a loan agreement worth $1 billion with Japan Bank for International Cooperation (JBIC).
  • The fund will be routed to the manufacturers, suppliers and dealers of Japanese automobile manufacturers in India.

• Remittances to India to drop by 9% in 2020: World Bank
  • World Bank's Migration and Development Brief reports that remittances to India would fall by nine per cent to USD 76 billion during this 2020-21 FY.
  • The major reason for this fall is attributed to the impacts of COVID-19 pandemic.

• ESI Scheme extended to Arunachal Pradesh
  • Ministry of Labour & Employment has extended the Employees’ State Insurance (ESI) scheme for the first time to Arunachal Pradesh.

• Govt partners with FICCI for Make-in-Odisha 2020
  • Federation of Indian Chambers of Commerce and Industry (FICCI) has been selected as the national industry partner for the third edition of ‘Make in Odisha’ conclave.

• Singapore Becomes First Country to Use Facial Recognition to Pay Taxes
  • Singapore government has rolled out SingPass digital identity scheme, offering access to no less than 400 online services, including tax declarations and public housing applications. Facial recognition is also increasingly being used to access other online services, such as banking.

NATIONAL

• India Releases Commemorative Postage Stamp on 75th Anniversary of UN
  • The government released a commemorative postage stamp on the 75th anniversary of the United Nations.

• Speedtest Global Index for September
  • The Speedtest Global Index for September is released by Ookla, which compares internet speed data from around the world on a monthly basis. The data for the index comes from the hundreds of millions of tests taken by real people using Speedtest every month.
  • South Korea ranks number one with an average mobile data speed of 121 Mbps and the the global average of 35.26 Mbps.
  • The index has ranked India's mobile internet speeds at 131 for mobile internet speeds for September 2020. India's average mobile download speed is 12.07 Mbps.

• Union Minister Hardeep Singh Puri launches ‘e-Dharti Geo portal’
  • Union Housing and Urban Affairs Minister Hardeep Singh Puri has launched the ‘e-Dharti Geo Portal’ that will integrate legacy drawings such as maps and lease plans in the management information system, namely e-Dharti, and make it geographic information system (GIS)-enabled.

• AIM Launches India–Australia Circular Economy Hackathon (I-ACE)
  • AIM (Atal Innovation Mission), in association with Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), is organizing a two-day hackathon on circular economy, ‘India–Australia Circular Economy Hackathon (I-ACE)’, on 7 and 8 December.

• Mansukh Mandaviya inaugurates 'Direct Port Entry Facility' at V.O. Chidambaranar port trust
  • Shipping minister Mansukh Mandaviya inaugurated a Direct Port Entry (DPE) facility at V.O. Chidambaranar port trust, a development aimed at expediting cargo movement.

• Centre sets up committee to commemorate Guru Tegh Bahadur’s 400th birth anniversary
  • The Centre set up a high-level committee headed by Prime Minister Narendra Modi to commemorate the 400th birth anniversary of Guru Tegh Bahadur.

• India Post, US Postal Service sign pact for electronic exchange of customs data
  • The Department of Posts and United States Postal Service signed an agreement for electronic exchange of customs data related to postal shipments between the two countries.

• Electricity Access & Utility Benchmarking Report
  • NITI Aayog, Ministry of Power, Rockefeller Foundation, and Smart Power India launched the ‘Electricity Access in India and Benchmarking Distribution Utilities’ report.

• Indian Army launches indigenous mobile app ‘SAI’
  • The Indian Army has developed and launched a secure messaging application, Secure Application for the Internet or SAI.

• Indian Railways launches 'Meri Saheli' to provide safety to women passengers
  • Indian Railways has launched 'Meri Saheli' initiative for focused action on security of women across with an objective to provide safety and security to lady passengers travelling by trains

• IIT Kanpur, ASI signal MoU with Italian institutes for restoration of monuments
  • The Indian Institute of Technology, Kanpur (IIT-K) and the Archaeological Survey of India have signed a settlement with two establishments from Italy, searching for restoration and safety of historic monuments.
  • The MoU was signed amongst IIT-K, Ca’Foscari University of Venice, Soprintendenza Archeologia, Belle Arti E Paesaggio, Venice, on making a community and sharing abilities for restoration and safety of historic monuments.

• LTC cash voucher scheme extended to all employees
  • The Centre has extended the exemption available under LTC (leave travel concession) cash voucher scheme to all employees.
  • The scheme which was earlier offered to central government employees only can now be availed by state governments, state-owned enterprises and private sector workers.

• Construction for new Parliament building to begin in December
  • Parliament building is set to change and the construction of the new government legislative building is set to begin in December this year.
  • The new building where all Lok Sabha and Rajya Sabha sessions will be held is likely to be completed in the next two years (by October 2022).

• USAID announces $5 million to support India’s initiatives
  • The US Agency for International Development (USAID) has announced two new awards totalling $5 million to Catalyst Management Service’s COVID Action Collaborative (CAC) and the Wadhwani Institute for Artificial Intelligence as part of the US government’s support to India’s Covid-19 response.

• ECI constitutes committee to examine issues concerning expenditure limit
  • Election Commission of India constituted a committee to examine the issues concerning the expenditure limit for a candidate in view of increase in the number of electors and rise in cost Inflation Index and other factors.

• IMD launches flash flood guidance services for country, South Asian neighbours
  • India has launched first- of-its kind Flash Flood Guidance services for South Asian countries — India, Bangladesh, Bhutan, Nepal and Sri Lanka — to issue impact-based forecasting of floods, which are very sudden and of short duration, at watershed and also city level.

• Vulture Conservation centres in 5 states to protect vultures
  • The National Board for Wildlife approved an action plan for vultures recently.
  • According to the Action Plan for Vulture Conservation 2020-2025, new vulture conservation centres to come in Uttar Pradesh, Tripura, Maharashtra, Karnataka and Tamil Nadu.

• NITI Aayog, QCI Launch National Program and Project Management Policy Framework Initiative
  • NITI Aayog and Quality Council of India (QCI) launched the ‘National Program and Project Management Policy Framework’ (NPMPF), with the aim of bringing radical reforms in the way infrastructure projects are executed in India.

• European Commission, ICSSR Sign Arrangement to Enhance Scientific Cooperation
  • The European Commission and the Indian Council of Social Science Research (ICSSR) signed a new implementing arrangement to enhance scientific cooperation.

• IIT-Jodhpur, NHAI sign pact to share expertise for betterment of highway infrastructure
  • Indian Institute of Technology, Jodhpur and National Highway Authority of India have signed a pact to share their expertise for betterment of highway infrastructure.

INTERNATIONAL

• World’s Women: Trends and Statistics Report 2020
  • United Nations Department of Economic and Social Affairs released 2020 edition of a report titled “World’s Women: Trends and Statistics”.
  • The report provided a reality-check on the global status of women 25 years since the world adopted the Beijing Declaration and Platform for Action.

• Human Mobility, Shared Opportunities: A Review of the 2009 Human Development Report and the Way Ahead
  • The United Nations Development Programme (UNDP) released a report titled “Human Mobility, Shared Opportunities: A Review of the 2009 Human Development Report and the Way Ahead.”

STATES

• Delhi CM launches ‘Green Delhi’ app to redress pollution complaints
  • Delhi Chief Minister Arvind Kejriwal launched the ‘Green Delhi’ mobile application using which citizens can bring pollution causing activities to the Government’s notice.

• Delhi airport emerges second safest globally on COVID-related safety: DIAL
  • Delhi airport operator DIAL has been certified as the second safest aerodrome globally for effective implementation of coronavirus-related health and safety protocols.

• Uttrakhand CM launches Integrated Model Agricultural Village scheme
  • Uttarakhand CM Trivendra Singh Rawat inaugurated Integrated Model Agricultural Village scheme (Ekikrit Adarsh Krishi Gram Yojana) in the state in partnership with NABARD.

• Young Advocates Welfare Fund launched in Tamil Nadu
  • In Tamil Nadu, the Young Advocates Welfare Fund has been launched.
  • It provides a monthly financial assistance of three thousand rupees each for two years to the lawyers who just come out of law colleges.

• Tamil Nadu govt. implements Smart Black Board scheme in govt. schools
  • Tamil Nadu government is implementing the Smart Black Board scheme in 80,000 government schools to ensure better teaching environment.

• Telangana CM launches Dharani portal
  • Telangana Chief Minister K Chandrashekar Rao launched of the Dharani portal, a one-site facility for land records and transactions in the State.

• Odisha CM Launches 'Sumangal' & Student Scholarship Web Portals to Aid Beneficiaries
  • Odisha Chief Minister Naveen Patnaik launched two web portals 'Odisha State Scholarship Portal' and 'Sumangal Portal'.
  • The former portal is to help eligible students of the state to avail scholarship benefits in a seamless and transparent manner, while the latter one is to help people avail inter-caste marriage incentives under Odisha Right to Public Services Act, 2012.

• Kerala becomes the first state to fix floor price for vegetables
  • Kerala became the first state to fix the floor price for vegetables, which would be 20 per cent above the production cost.

• World Bank sanctions Rs 3 crore for Goa to develop India’s first sand dune parks
  • World Bank has approved a project proposed by the Goa state biodiversity board that will see India’s first sand dune parks and interpretation centres developed along select stretches.

• Karnataka govt switched implementing agency for Bhagyalakshmi scheme
  • The Karnataka cabinet granted approval to implement the Bhagyalakshmi scheme, which provides financial security to girl child of BPL families, through Sukanya Samriddhi Yojana of the postal department instead of LIC.
  • The postal department will be the implementing agency for Bhagyalakshmi scheme.

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FINANCE AND BANKING

• Banks to deploy on-tap TLTRO funds in 6 sectors
  • During the Bi-monthly Monetary Policy Committee (MPC) meeting, the RBI announced that it would conduct on-tap targeted long-term repo operations (TLTRO) worth Rs 1 lakh crore.
  • Recently the RBI has clarified that the banks can deploy money drawn from TLTRO in six sectors- agriculture, agri-infrastructure, secured retail, MSMEs, drugs, pharmaceuticals and healthcare.

• MCX Launches India's First Base Metals Futures Index- METLDEX
  • Multi Commodity Exchange (MCX) has recently launched Base Metals Index 'METLDEX'.
  • This index will track the real-time performance of a basket of MCX Base Metal (near month) futures, viz. zinc, copper, nickel, lead, and aluminium.

• DBS Named Asia's Safest Bank for 12th Consecutive Year
  • DBS Bank has been named the 'Safest Bank in Asia' for the 12th consecutive year by New York-based trade publication Global Finance.
  • Global Finance has named the State Bank of India as the Safest Bank in India.

• EXIM Bank allows $310 million LoC to Republic of Zimbabwe
  • Export-Import (Exim) Bank has allowed a Line of Credit (LoC) of USD 310 million on behalf of the Government of India.
  • This LoC will be utilised to finance repowering of Hwange Thermal Power Station.

• RBI imposes Rs 1 crore fine on Jio Payments Bank
  • Reserve Bank of India imposed a penalty of Rs 1 crore on Reliance Jio Payments Bank Limited for non-compliance with RBI directions on timely submission of application in the case of re-appointment of Managing Director and Chief Executive Officer (MD & CEO).

ECONOMY

• SBI signs $1 billion loan deal with Japan Bank for Intl Cooperation
  • State Bank of India (SBI) has signed a loan agreement worth $1 billion with Japan Bank for International Cooperation (JBIC).
  • The fund will be routed to the manufacturers, suppliers and dealers of Japanese automobile manufacturers in India.

• Remittances to India to drop by 9% in 2020: World Bank
  • World Bank's Migration and Development Brief reports that remittances to India would fall by nine per cent to USD 76 billion during this 2020-21 FY.
  • The major reason for this fall is attributed to the impacts of COVID-19 pandemic.

• ESI Scheme extended to Arunachal Pradesh
  • Ministry of Labour & Employment has extended the Employees’ State Insurance (ESI) scheme for the first time to Arunachal Pradesh.

• Govt partners with FICCI for Make-in-Odisha 2020
  • Federation of Indian Chambers of Commerce and Industry (FICCI) has been selected as the national industry partner for the third edition of ‘Make in Odisha’ conclave.

• Singapore Becomes First Country to Use Facial Recognition to Pay Taxes
  • Singapore government has rolled out SingPass digital identity scheme, offering access to no less than 400 online services, including tax declarations and public housing applications. Facial recognition is also increasingly being used to access other online services, such as banking.

NATIONAL

• India Releases Commemorative Postage Stamp on 75th Anniversary of UN
  • The government released a commemorative postage stamp on the 75th anniversary of the United Nations.

• Speedtest Global Index for September
  • The Speedtest Global Index for September is released by Ookla, which compares internet speed data from around the world on a monthly basis. The data for the index comes from the hundreds of millions of tests taken by real people using Speedtest every month.
  • South Korea ranks number one with an average mobile data speed of 121 Mbps and the the global average of 35.26 Mbps.
  • The index has ranked India's mobile internet speeds at 131 for mobile internet speeds for September 2020. India's average mobile download speed is 12.07 Mbps.

• Union Minister Hardeep Singh Puri launches ‘e-Dharti Geo portal’
  • Union Housing and Urban Affairs Minister Hardeep Singh Puri has launched the ‘e-Dharti Geo Portal’ that will integrate legacy drawings such as maps and lease plans in the management information system, namely e-Dharti, and make it geographic information system (GIS)-enabled.

• AIM Launches India–Australia Circular Economy Hackathon (I-ACE)
  • AIM (Atal Innovation Mission), in association with Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), is organizing a two-day hackathon on circular economy, ‘India–Australia Circular Economy Hackathon (I-ACE)’, on 7 and 8 December.

• Mansukh Mandaviya inaugurates 'Direct Port Entry Facility' at V.O. Chidambaranar port trust
  • Shipping minister Mansukh Mandaviya inaugurated a Direct Port Entry (DPE) facility at V.O. Chidambaranar port trust, a development aimed at expediting cargo movement.

• Centre sets up committee to commemorate Guru Tegh Bahadur’s 400th birth anniversary
  • The Centre set up a high-level committee headed by Prime Minister Narendra Modi to commemorate the 400th birth anniversary of Guru Tegh Bahadur.

• India Post, US Postal Service sign pact for electronic exchange of customs data
  • The Department of Posts and United States Postal Service signed an agreement for electronic exchange of customs data related to postal shipments between the two countries.

• Electricity Access & Utility Benchmarking Report
  • NITI Aayog, Ministry of Power, Rockefeller Foundation, and Smart Power India launched the ‘Electricity Access in India and Benchmarking Distribution Utilities’ report.

• Indian Army launches indigenous mobile app ‘SAI’
  • The Indian Army has developed and launched a secure messaging application, Secure Application for the Internet or SAI.

• Indian Railways launches 'Meri Saheli' to provide safety to women passengers
  • Indian Railways has launched 'Meri Saheli' initiative for focused action on security of women across with an objective to provide safety and security to lady passengers travelling by trains

• IIT Kanpur, ASI signal MoU with Italian institutes for restoration of monuments
  • The Indian Institute of Technology, Kanpur (IIT-K) and the Archaeological Survey of India have signed a settlement with two establishments from Italy, searching for restoration and safety of historic monuments.
  • The MoU was signed amongst IIT-K, Ca’Foscari University of Venice, Soprintendenza Archeologia, Belle Arti E Paesaggio, Venice, on making a community and sharing abilities for restoration and safety of historic monuments.

• LTC cash voucher scheme extended to all employees
  • The Centre has extended the exemption available under LTC (leave travel concession) cash voucher scheme to all employees.
  • The scheme which was earlier offered to central government employees only can now be availed by state governments, state-owned enterprises and private sector workers.

• Construction for new Parliament building to begin in December
  • Parliament building is set to change and the construction of the new government legislative building is set to begin in December this year.
  • The new building where all Lok Sabha and Rajya Sabha sessions will be held is likely to be completed in the next two years (by October 2022).

• USAID announces $5 million to support India’s initiatives
  • The US Agency for International Development (USAID) has announced two new awards totalling $5 million to Catalyst Management Service’s COVID Action Collaborative (CAC) and the Wadhwani Institute for Artificial Intelligence as part of the US government’s support to India’s Covid-19 response.

• ECI constitutes committee to examine issues concerning expenditure limit
  • Election Commission of India constituted a committee to examine the issues concerning the expenditure limit for a candidate in view of increase in the number of electors and rise in cost Inflation Index and other factors.

• IMD launches flash flood guidance services for country, South Asian neighbours
  • India has launched first- of-its kind Flash Flood Guidance services for South Asian countries — India, Bangladesh, Bhutan, Nepal and Sri Lanka — to issue impact-based forecasting of floods, which are very sudden and of short duration, at watershed and also city level.

• Vulture Conservation centres in 5 states to protect vultures
  • The National Board for Wildlife approved an action plan for vultures recently.
  • According to the Action Plan for Vulture Conservation 2020-2025, new vulture conservation centres to come in Uttar Pradesh, Tripura, Maharashtra, Karnataka and Tamil Nadu.

• NITI Aayog, QCI Launch National Program and Project Management Policy Framework Initiative
  • NITI Aayog and Quality Council of India (QCI) launched the ‘National Program and Project Management Policy Framework’ (NPMPF), with the aim of bringing radical reforms in the way infrastructure projects are executed in India.

• European Commission, ICSSR Sign Arrangement to Enhance Scientific Cooperation
  • The European Commission and the Indian Council of Social Science Research (ICSSR) signed a new implementing arrangement to enhance scientific cooperation.

• IIT-Jodhpur, NHAI sign pact to share expertise for betterment of highway infrastructure
  • Indian Institute of Technology, Jodhpur and National Highway Authority of India have signed a pact to share their expertise for betterment of highway infrastructure.

INTERNATIONAL

• World’s Women: Trends and Statistics Report 2020
  • United Nations Department of Economic and Social Affairs released 2020 edition of a report titled “World’s Women: Trends and Statistics”.
  • The report provided a reality-check on the global status of women 25 years since the world adopted the Beijing Declaration and Platform for Action.

• Human Mobility, Shared Opportunities: A Review of the 2009 Human Development Report and the Way Ahead
  • The United Nations Development Programme (UNDP) released a report titled “Human Mobility, Shared Opportunities: A Review of the 2009 Human Development Report and the Way Ahead.”

STATES

• Delhi CM launches ‘Green Delhi’ app to redress pollution complaints
  • Delhi Chief Minister Arvind Kejriwal launched the ‘Green Delhi’ mobile application using which citizens can bring pollution causing activities to the Government’s notice.

• Delhi airport emerges second safest globally on COVID-related safety: DIAL
  • Delhi airport operator DIAL has been certified as the second safest aerodrome globally for effective implementation of coronavirus-related health and safety protocols.

• Uttrakhand CM launches Integrated Model Agricultural Village scheme
  • Uttarakhand CM Trivendra Singh Rawat inaugurated Integrated Model Agricultural Village scheme (Ekikrit Adarsh Krishi Gram Yojana) in the state in partnership with NABARD.

• Young Advocates Welfare Fund launched in Tamil Nadu
  • In Tamil Nadu, the Young Advocates Welfare Fund has been launched.
  • It provides a monthly financial assistance of three thousand rupees each for two years to the lawyers who just come out of law colleges.

• Tamil Nadu govt. implements Smart Black Board scheme in govt. schools
  • Tamil Nadu government is implementing the Smart Black Board scheme in 80,000 government schools to ensure better teaching environment.

• Telangana CM launches Dharani portal
  • Telangana Chief Minister K Chandrashekar Rao launched of the Dharani portal, a one-site facility for land records and transactions in the State.

• Odisha CM Launches 'Sumangal' & Student Scholarship Web Portals to Aid Beneficiaries
  • Odisha Chief Minister Naveen Patnaik launched two web portals 'Odisha State Scholarship Portal' and 'Sumangal Portal'.
  • The former portal is to help eligible students of the state to avail scholarship benefits in a seamless and transparent manner, while the latter one is to help people avail inter-caste marriage incentives under Odisha Right to Public Services Act, 2012.

• Kerala becomes the first state to fix floor price for vegetables
  • Kerala became the first state to fix the floor price for vegetables, which would be 20 per cent above the production cost.

• World Bank sanctions Rs 3 crore for Goa to develop India’s first sand dune parks
  • World Bank has approved a project proposed by the Goa state biodiversity board that will see India’s first sand dune parks and interpretation centres developed along select stretches.

• Karnataka govt switched implementing agency for Bhagyalakshmi scheme
  • The Karnataka cabinet granted approval to implement the Bhagyalakshmi scheme, which provides financial security to girl child of BPL families, through Sukanya Samriddhi Yojana of the postal department instead of LIC.
  • The postal department will be the implementing agency for Bhagyalakshmi scheme.