Weekly Current Affairs 23rd December- 31st December 2020

FINANCE AND BANKING

• RBI cancels licence of Subhadra Local Area Bank, Kolhapur
  • RBI has cancelled the licence of Subhadra Local Area Bank, Kolhapur, as its affairs were conducted in a "manner detrimental" to the interests of its present and future depositors.
  • The bank had breached the minimum net worth requirement for two quarters in the financial year 2019-20

• Banks need Rs one lakh crore for NPAs, growth, says Reserve Bank of India
  • RBI has stated that banks will need additional capital of up to one and a half percentage points of risk-weighted assets in its assessment of the impact of Covid-19 on lenders.
  • Given that total bank loans are around Rs 104 lakh crore, the capital requirement would be more than Rs 1 lakh crore.

• SEBI plans to rope in agency to conduct risk assessment of IT infra
  • SEBI is looking to rope in an agency for performing in-depth risk assessment of its information technology (IT) infrastructure.

ECONOMY

• India to become 5th largest economy in 2025, 3rd largest by 2030
  • India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, as per Centre for Economics and Business Research (CEBR)

• Government extends deadline for use of FASTag till February 15
  • The road transport ministry has extended the deadline for 100% collection of toll charges on the National Highway (NH) network through FASTag till February 15, 2021

• Economy to contract at 7.3% in FY21: NCAER
  • The National Council of Applied Economic Research (NCAER) has revised upward its gross domestic product (GDP) projection for FY21 to 7.3% contraction from the 12.6% dip estimated in September 2020 with the expectation that the economy will register marginal growth in the December quarter.

NATIONAL

• PM Modi flags off India’s first driverless train on Delhi Metro’s Magenta Line
  • Prime Minister Narendra Modi has inaugurated via video conferencing India's first driverless train operations on the Delhi Metro's Magenta Line, connecting Janakpuri West and Botanical Garden along with the fully operational National Common Mobility Card (NCMC) services on the Airport Express Line.

• Railways Launches Hospital Management Information System
  • Indian Railways has launched the recently integrated Hospital Management Information System (HMIS) and a mobile application for downloading Unique Medical Identity Card (UMID) over five units in South Central Railways and two Units over Northern Railway.

• Thaawarchand Gehlot Launches Mobile Application “Swachhata Abhiyan”
  • Union Minister for Social Justice and Empowerment Thaawarchand Gehlot has launched a Mobile Application “Swachhata Abhiyan”. “Swachhata Abhiyan” mobile app has been developed to identify and geotag the data of insanitary latrines and manual scavengers.

INTERNATIONAL

• Ghana polls: President Akufo-Addo wins second term
  • The incumbent Ghanaian President Nana Addo Dankwa Akufo-Addo has won the presidential election and secured his second term.

• US to set up a nuclear reactor on the surface of the moon by 2026
  • US President Donald Trump has issued a new Space Policy Directive (SPD) which will allow NASA to set up a nuclear reactor on the surface of the moon by 2026 in collaboration with US Department of Energy.

STATES

• Punjab CM launches digital ‘PR Insight’ mobile app, web portal
  • Punjab Chief Minister Capt Amarinder Singh launched a mobile application and web portal ‘PR Insight’ to monitor the feedback and subsequently improve the delivery of citizen-centric services to ensure responsive and transparent administration in the State.

• Kerala Government and UN Women collaborate for India’s first Gender Data hub
  • The government of Kerala and the UN women has decided to collaborate to establish the country’s first gender data hub. A memorandum of understanding was signed for this purpose.

• PM Modi launches Ayushman Bharat PMJAY SEHAT scheme for Jammu and Kashmir residents
  • Prime Minister Narendra Modi launched Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) SEHAT scheme for the residents of Jammu and Kashmir, via video conferencing.

SCIENCE AND TECHNOLOGY

• Skyroot Aerospace becomes first Indian company to test-fire solid-fueled rocket engine
  • Indian Space startup, Skyroot Aerospace, has proven the crucial propulsion technology of their maiden rocket Vikram-1, with the latest test-firing of an engine.

• IIT-H sets up testbed on autonomous navigation (TiHAN) for unmanned aerial vehicles
  • Indian Institute of Technology, Hyderabad (IIT-H) got a new technology innovation hub on autonomous navigation (TiHAN) for unmanned aerial vehicles and remotely operated vehicles.

AGRICULTURE AND RURAL DEVELOPMENT

• TRIFED Signs MoU with MoFPI for upliftment of tribal lives through PM- FME Scheme
  • TriFood range of tribal food products would be developed, branded, and packaged by TRIFED with the necessary funding under the Prime Minister Formalisation of Micro food processing Enterprises (PM-FME) Scheme of Minister of Food Processing Industries (MoFPI)

• KVIC brings alive 1000-yrs old Monpa handmade paper industry in Tawang
  • The 1000-year old heritage art – the Monpa Handmade Paper of Arunachal Pradesh – which was driven to the extinction, has come to with the efforts of Khadi and Village Industries Commission (KVIC).

• NAFED to set up farmer facilitation centre in Maharashtra
  • The national agricultural cooperative marketing federation of India (NAFED) is all set to roll out its first farmer facilitation centre (FFC) for farmer producer companies (FPCs) in Maharashtra in the first week of January 2021.

DEFENCE

• Navy, DRDO conduct maiden trial of 1st indigenous air-droppable container 'SAHAYAK-NG'
  • Defence Research and Development Organisation (DRDO) along with the Indian Navy conducted the successful maiden test trial of 'SAHAYAK-NG' India's first indigenously designed and developed Air Dropped Container from IL 38SD aircraft (Indian Navy) off the coast of Goa.

• Union Cabinet approves export of Akash missile system
  • The Union Cabinet cleared the proposal to export indigenously-developed Akash Missile System. The Cabinet has also approved the setting up of a committee for faster approvals.

• Goa Shipyard Ltd launched the fifth and final Offshore Patrol Vessel
  • Goa Shipyard Ltd (GSL) launched the fifth and final Offshore Patrol Vessel (OPV) out of an order of five such vessels it is constructing for the Indian Coast Guard (ICG).

EVENTS

• 2020 Global Technology Summit
  • Carnegie India in collaboration with the Ministry of External Affairs, Government of India is hosting ‘The Global Technology Summit’.

• 6th India-Japan Samwad Conference
  • Prime Minister Narendra Modi addressed the 6th India-Japan Samvad conference, through video conferencing.

• India International Science Festival-2020
  • The Prime Minister delivered the inaugural address at the India International Science Festival (IISF) 2020 through video conferencing.
  • The central theme of this year’s festival is “Science for Self-reliant India and Global Welfare”.

AWARDS AND REWARDS

• Hemant Kumar Pandey gets DRDO''s ''Scientist of the Year'' award
  • Senior scientist Hemant Kumar Pandey has been honoured with DRDO''s ''Scientist of the Year Award'' 2018 for his contribution in developing several herbal medicines, including the popular drug Lukoskin meant for treatment of leucoderma.

• V.K. Yadav conferred with Eminent Engineer Award
  • V.K. Yadav, Chairman & CEO, Railway Board, Ministry of Railways has been conferred with the prestigious “Eminent Engineer Award for the Year 2020’ by the Institution of Engineering and Technology (IET) for his outstanding contribution towards modernization and reforms over Indian Railways.

• Mother Teresa Memorial Awardees for Social Justice felicitated
  • Harmony Foundation hosted the Mother Teresa Memorial Awards for Social Justice.
  • The Awards, in its 16th year, is the only award endorsed by Sister Prema, the Superior General of the Missionaries of Charity, the organization started by Mother Teresa.

SPORTS

• FIFA cancels U17 and U20 World Cups in 2021
  • FIFA has canceled the Under-17 and Under-20 World Cups scheduled for 2021 due to the pandemic.

• India's largest hockey stadium planned in Rourkela, to host 2023 World Cup
  • Odisha Chief Minister Naveen Patnaik announced that India's biggest hockey stadium will come up at Rourkela and the 20,000-capacity facility will host matches of FIH men's World Cup in 2023.

• ICC Awards of the Decade
  • The ICC Awards of the Decade is a one-off edition of the ICC Awards annual awards programme, aimed at celebrating the stand-out performers and moments from the past ten years of international cricket.
  • Virat Kohli wins the Sir Garfield Sobers Award for ICC Male Cricketer of the Decade. Ellyse Perry won the Rachael Heyhoe Flint Award for ICC Female Cricketer of the Decade.

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FINANCE AND BANKING

• RBI cancels licence of Subhadra Local Area Bank, Kolhapur
  • RBI has cancelled the licence of Subhadra Local Area Bank, Kolhapur, as its affairs were conducted in a "manner detrimental" to the interests of its present and future depositors.
  • The bank had breached the minimum net worth requirement for two quarters in the financial year 2019-20

• Banks need Rs one lakh crore for NPAs, growth, says Reserve Bank of India
  • RBI has stated that banks will need additional capital of up to one and a half percentage points of risk-weighted assets in its assessment of the impact of Covid-19 on lenders.
  • Given that total bank loans are around Rs 104 lakh crore, the capital requirement would be more than Rs 1 lakh crore.

• SEBI plans to rope in agency to conduct risk assessment of IT infra
  • SEBI is looking to rope in an agency for performing in-depth risk assessment of its information technology (IT) infrastructure.

ECONOMY

• India to become 5th largest economy in 2025, 3rd largest by 2030
  • India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, as per Centre for Economics and Business Research (CEBR)

• Government extends deadline for use of FASTag till February 15
  • The road transport ministry has extended the deadline for 100% collection of toll charges on the National Highway (NH) network through FASTag till February 15, 2021

• Economy to contract at 7.3% in FY21: NCAER
  • The National Council of Applied Economic Research (NCAER) has revised upward its gross domestic product (GDP) projection for FY21 to 7.3% contraction from the 12.6% dip estimated in September 2020 with the expectation that the economy will register marginal growth in the December quarter.

NATIONAL

• PM Modi flags off India’s first driverless train on Delhi Metro’s Magenta Line
  • Prime Minister Narendra Modi has inaugurated via video conferencing India's first driverless train operations on the Delhi Metro's Magenta Line, connecting Janakpuri West and Botanical Garden along with the fully operational National Common Mobility Card (NCMC) services on the Airport Express Line.

• Railways Launches Hospital Management Information System
  • Indian Railways has launched the recently integrated Hospital Management Information System (HMIS) and a mobile application for downloading Unique Medical Identity Card (UMID) over five units in South Central Railways and two Units over Northern Railway.

• Thaawarchand Gehlot Launches Mobile Application “Swachhata Abhiyan”
  • Union Minister for Social Justice and Empowerment Thaawarchand Gehlot has launched a Mobile Application “Swachhata Abhiyan”. “Swachhata Abhiyan” mobile app has been developed to identify and geotag the data of insanitary latrines and manual scavengers.

INTERNATIONAL

• Ghana polls: President Akufo-Addo wins second term
  • The incumbent Ghanaian President Nana Addo Dankwa Akufo-Addo has won the presidential election and secured his second term.

• US to set up a nuclear reactor on the surface of the moon by 2026
  • US President Donald Trump has issued a new Space Policy Directive (SPD) which will allow NASA to set up a nuclear reactor on the surface of the moon by 2026 in collaboration with US Department of Energy.

STATES

• Punjab CM launches digital ‘PR Insight’ mobile app, web portal
  • Punjab Chief Minister Capt Amarinder Singh launched a mobile application and web portal ‘PR Insight’ to monitor the feedback and subsequently improve the delivery of citizen-centric services to ensure responsive and transparent administration in the State.

• Kerala Government and UN Women collaborate for India’s first Gender Data hub
  • The government of Kerala and the UN women has decided to collaborate to establish the country’s first gender data hub. A memorandum of understanding was signed for this purpose.

• PM Modi launches Ayushman Bharat PMJAY SEHAT scheme for Jammu and Kashmir residents
  • Prime Minister Narendra Modi launched Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) SEHAT scheme for the residents of Jammu and Kashmir, via video conferencing.

SCIENCE AND TECHNOLOGY

• Skyroot Aerospace becomes first Indian company to test-fire solid-fueled rocket engine
  • Indian Space startup, Skyroot Aerospace, has proven the crucial propulsion technology of their maiden rocket Vikram-1, with the latest test-firing of an engine.

• IIT-H sets up testbed on autonomous navigation (TiHAN) for unmanned aerial vehicles
  • Indian Institute of Technology, Hyderabad (IIT-H) got a new technology innovation hub on autonomous navigation (TiHAN) for unmanned aerial vehicles and remotely operated vehicles.

AGRICULTURE AND RURAL DEVELOPMENT

• TRIFED Signs MoU with MoFPI for upliftment of tribal lives through PM- FME Scheme
  • TriFood range of tribal food products would be developed, branded, and packaged by TRIFED with the necessary funding under the Prime Minister Formalisation of Micro food processing Enterprises (PM-FME) Scheme of Minister of Food Processing Industries (MoFPI)

• KVIC brings alive 1000-yrs old Monpa handmade paper industry in Tawang
  • The 1000-year old heritage art – the Monpa Handmade Paper of Arunachal Pradesh – which was driven to the extinction, has come to with the efforts of Khadi and Village Industries Commission (KVIC).

• NAFED to set up farmer facilitation centre in Maharashtra
  • The national agricultural cooperative marketing federation of India (NAFED) is all set to roll out its first farmer facilitation centre (FFC) for farmer producer companies (FPCs) in Maharashtra in the first week of January 2021.

DEFENCE

• Navy, DRDO conduct maiden trial of 1st indigenous air-droppable container 'SAHAYAK-NG'
  • Defence Research and Development Organisation (DRDO) along with the Indian Navy conducted the successful maiden test trial of 'SAHAYAK-NG' India's first indigenously designed and developed Air Dropped Container from IL 38SD aircraft (Indian Navy) off the coast of Goa.

• Union Cabinet approves export of Akash missile system
  • The Union Cabinet cleared the proposal to export indigenously-developed Akash Missile System. The Cabinet has also approved the setting up of a committee for faster approvals.

• Goa Shipyard Ltd launched the fifth and final Offshore Patrol Vessel
  • Goa Shipyard Ltd (GSL) launched the fifth and final Offshore Patrol Vessel (OPV) out of an order of five such vessels it is constructing for the Indian Coast Guard (ICG).

EVENTS

• 2020 Global Technology Summit
  • Carnegie India in collaboration with the Ministry of External Affairs, Government of India is hosting ‘The Global Technology Summit’.

• 6th India-Japan Samwad Conference
  • Prime Minister Narendra Modi addressed the 6th India-Japan Samvad conference, through video conferencing.

• India International Science Festival-2020
  • The Prime Minister delivered the inaugural address at the India International Science Festival (IISF) 2020 through video conferencing.
  • The central theme of this year’s festival is “Science for Self-reliant India and Global Welfare”.

AWARDS AND REWARDS

• Hemant Kumar Pandey gets DRDO''s ''Scientist of the Year'' award
  • Senior scientist Hemant Kumar Pandey has been honoured with DRDO''s ''Scientist of the Year Award'' 2018 for his contribution in developing several herbal medicines, including the popular drug Lukoskin meant for treatment of leucoderma.

• V.K. Yadav conferred with Eminent Engineer Award
  • V.K. Yadav, Chairman & CEO, Railway Board, Ministry of Railways has been conferred with the prestigious “Eminent Engineer Award for the Year 2020’ by the Institution of Engineering and Technology (IET) for his outstanding contribution towards modernization and reforms over Indian Railways.

• Mother Teresa Memorial Awardees for Social Justice felicitated
  • Harmony Foundation hosted the Mother Teresa Memorial Awards for Social Justice.
  • The Awards, in its 16th year, is the only award endorsed by Sister Prema, the Superior General of the Missionaries of Charity, the organization started by Mother Teresa.

SPORTS

• FIFA cancels U17 and U20 World Cups in 2021
  • FIFA has canceled the Under-17 and Under-20 World Cups scheduled for 2021 due to the pandemic.

• India's largest hockey stadium planned in Rourkela, to host 2023 World Cup
  • Odisha Chief Minister Naveen Patnaik announced that India's biggest hockey stadium will come up at Rourkela and the 20,000-capacity facility will host matches of FIH men's World Cup in 2023.

• ICC Awards of the Decade
  • The ICC Awards of the Decade is a one-off edition of the ICC Awards annual awards programme, aimed at celebrating the stand-out performers and moments from the past ten years of international cricket.
  • Virat Kohli wins the Sir Garfield Sobers Award for ICC Male Cricketer of the Decade. Ellyse Perry won the Rachael Heyhoe Flint Award for ICC Female Cricketer of the Decade.