Daily Current Affairs 17 September 2020 for Banking/Insurance/SSC and other related exams.
Centre allocates over Rs. 818 crore to promote online learning to mitigate effect of COVID-19 pandemic
Union Government has allocated more than Rs. 818 crore to promote online learning to mitigate the effect of COVID-19 pandemic.
- Education Minister Ramesh Pokhriyal Nishank said that over Rs. 267 crore have been allocated for online teacher training.
- The Minister said, internet access under Bharat Net scheme has been made available to government institutions and to improve the internet connectivity in rural areas.
Govt to infuse ₹20,000 cr into PSBs via recap bonds
State-run banks are poised to get ₹20,000 crore through recapitalization bonds this financial year, at a time the coronavirus crisis threatens to bump up bad loans across the banking system.
- Finance minister Nirmala Sitharaman tabled the first batch of supplementary demand for grants in the Parliament, reflecting additional expenses sought by various ministries beyond the budget allocations.
- The government has sought the Parliament’s nod for additional cash expenditure of Rs 1.67 lakh crore, less than 1 percent of GDP, in the first supplementary demand for grants for FY21 tabled in the Parliament.
Cabinet approves Haryana Orbital Rail Corridor project from Palwal to Sonipat
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval to the Haryana Orbital Rail Corridor Project from Palwal to Sonipat via Sohna-Manesar-Kharkhauda.
- This Rail Line will start from Palwal and end at the existing Harsana Kalan station (On Delhi-Ambala section). Total length of the project is ~ 121.7 km
- Estimated completion cost of the project is Rs. 5,617 crore. The project is likely to be completed in 5 years.
Delhi Metro develops indigenous signalling technology under ‘Make in India’
The Delhi Metro Rail Corporation on Engineers Day took a major step towards the development of an indigenously-built CBTC (Communication Based Train Control) based signalling technology for metro railway with the launch of the i-ATS, which is an important sub-system of the signalling system.
- i-ATS is the indigenously developed technology, which will significantly reduce the dependence of Indian metros on foreign vendors dealing with such technologies.
- This prototype system as well as a state-of-the-art laboratory for further developing other sub- systems of the CBTC technology was inaugurated at Shastri Park. DMRC has decided to use indigenous ATS (i-ATS) while upgrading the ATS of line 1 (Red Line) i.e. from Rithala to Shaheed Sthal, Ghaziabad.The same shall also be used in Phase-IV
Madhya Pradesh: Central discom first to adopt e-office in India
Madhya Kshetra Vidyut Vitran Company Bhopal is the first power Distribution Company in India in which e-office system is operated from corporate office to local circle offices level.
- It has implemented e-file & e-correspondent system through NIC e-office.
- More than a dozen IT applications are operational in central discom along with the e-office system. In the e-applications created by the company, all the consumers of HT and LT, agricultural consumers, non-domestic consumers and other categories are being provided new connections along with increase/decrease in load through online application.
Madhya Pradesh Govt. launches Poshan Sarkar program
Madhya Pradesh Chief Minister Shri Shivraj Singh Chouhan launched a ‘Poshan Sarkar’ program to ensure participation and leadership of local bodies-Gram Panchayats and Urban Bodies in the nutrition campaign.
- The main objective of the Poshan Sarkar programme is to eliminate the malnutrition by helping the Gram Panchayat and the Urban Bodies in the nutrition campaign.
- Various activities will be organized under this. Under the programme, nutrition resolution will be passed in all Gram Panchayats/ Nagar Panchayats /Urban Bodies.
Gujarat CM announces scheme to give interest-free loans to women’s groups
Chief Minister Vijay Rupani launched Mukhyamantri Mahila Utkarsh Yojana (MMUY), a scheme of providing interest-free loans to women’s groups in the state.
- Under the scheme, the government is expected to disburse interest-free loans to the tune of Rs 1,000 crore to women to help them become self-reliant (atmanirbhar).Each group with 10 women members will be eligible for the loan.
- As part of the scheme, the interest on the loans will be paid to the banks by the government. This is expected to cost the state exchequer approximately Rs 170 crore.
Gujarat Approves Letter of Intent for World’s First CNG Terminal at Bhavnagar
The Gujarat government approved a letter of intent (LOI) for the world’s first Compressed Natural Gas (CNG) terminal at Bhavnagar port with a proposed investment of Rs 1,900 crore.
- The project will be developed jointly by UK-headquartered Foresight Group, Mumbai-based Padmanabh Mafatlal Group and a Netherland-based consortium.
- Apart from the CNG terminal, the investors would also develop a Ro-Ro terminal (for roll-on/roll-off ships), liquid cargo terminal and container terminal at Bhavnagar.
Rajasthan government signs pact with Sidbi to develop MSME ecosystem
Rajasthan’s Department of Industries and Sidbi will work together to provide financial, technical, marketing and export support to MSMEs in the state.
- The Small Industries Development Bank of India (Sidbi) has signed a memorandum of understanding (MoU) with the Rajasthan government to develop the MSME ecosystem in the state.
- Micro, small and medium enterprises (MSMEs) provide maximum employment opportunities and also have an effective share in exports.
Industry Dept, SIDBI enters into MoU to encourage MSME sector in Gujarat
In Gujarat, Industry Department and the Small Industries Development Bank of India- SIDBI entered into a MoU to encourage the MSME sector in the State.
- The MoU with SIDBI is intended to provide financial assistance, capital subsidy, interest subsidy, patent assistance, technology transfer and acquisition, innovation to provide financial assistance, market support, innovation, technology transfer and build capacity to compete in the global market.
India joins Djibouti Code of Conduct/ Jeddah Amendment as Observer
India has joined the Djibouti Code of Conduct/ Jeddah Amendment, DCOC/JA, as Observer.
- DCOC/JA is a grouping on maritime matters comprising 18 member states adjoining the Red Sea, Gulf of Aden, the East Coast of Africa and Island countries in the Indian Ocean Region. India has joined Japan, Norway, the UK and the US as Observers to the DCOC/JA.
BHEL ties up with SwissRapide AG to bring Maglev trains to India
State-run engineering firm BHEL announced its tie up with SwissRapide AG to bring Maglev trains (magnetic levitation) to India.
- The Maglev Rail system hovers in the air instead of rolling, due to magnetic levitation, thus the vehicles have no physical contact with the guideway.
- This enables the system to be highly energy efficient, allows operating speeds of easily up to 500 km/h and significantly reduces the total cost of system ownership.
10th Defence Technology and Trade Initiative, DTTI Group Meeting held virtually
As part of the Indo-US Bilateral Defence Cooperation, the 10th Defence Technology and Trade Initiative, DTTI Group Meeting was held virtually.
- The meeting was co-chaired by Raj Kumar, Secretary, Defence Production, Defence Ministry and Ellen M. Lord, Under Secretary of Defence for Acquisition and Sustainment, from the US Department of Defence.
- The aim of the DTTI Group is to bring sustained leadership focus to the bilateral defense trade relationship and create opportunities for co-production and co-development of defence equipment.
BANKING & FINANCE
SBM bank ties-up with Mastercard, launches SBM world debit card
Mastercard Incorporated MA and SBM Bank India have collaborated to launch SBM World Debit Card, a premium and exclusive card.
- This card will be custom-built and offered to SBM Private Wealth customers on request.
- The SBM World Debit Card will club niche banking solutions and carefully curated lifestyle privileges including some of the finest shopping and dining opportunities.
- Customers can spend/withdraw money with this card in any foreign currency with 0% foreign currency mark-up fee.
Titan ties up with SBI to launch contactless payment watches
Titan Company Ltd, in collaboration with State Bank of India (SBI), introduced ‘Titan Pay’, powered by YONO SBI.
- Through this partnership, Titan and SBI are launching a range of stylish new watches with contactless payment functionality for the first time in India.
- With this launch, account holders of the bank can tap their Titan Pay watch on contactless payment point-of-sale (POS) machines without the need of swiping or inserting their debit card. payments of up to Rs 2,000 can be made without entering a PIN.
BUSINESS & ECONOMY
Infosys to acquire GuideVision for €30 million
Infosys said it has signed a definitive agreement to acquire GuideVision, an enterprise service management consultancy specialised in offering strategic advisory, consulting, implementations, training and support on the ServiceNow platform.
- The deal size is learnt to be around €30 million.
- The acquisition is being carried out by Infy Consulting Company Ltd, a step-down subsidiary of Infosys Ltd.
NABARD to implement new loan scheme for women’s self help groups
The National Bank for Agriculture and Rural Development NABARD will be implementing a new loan scheme for women’s self help groups to start production of value added food products like chips, pickles, jams etc from the next Gandhi Jayanthi day on October 2nd.
- The discussions will be held with Tamilnadu CM within a day or two about allowing self help groups to start production of fertilisers.
Facebook India appoints Arun Srinivas as head for global business group
Facebook said it has appointed Arun Srinivas as the Director of Global Business Group to lead the strategy and delivery of the India Marketing Solutions charter that is focussed on large advertisers and agencies.
- Srinivas’ appointment comes after a series of senior and leadership recruitments in recent months across marketing, partnerships, communications, and other key verticals as part of its expansion in India.
Margaret Atwood Honoured With 2020 Dayton Literary Peace Prize
Canadian writer Margaret Atwood, whose sweeping body of work includes “The Handmaid’s Tale,” a depiction of a nightmarish totalitarian future for the United States, has won the top honor among the international Dayton Literary Peace Prizes.
- Atwood would receive the 2020 Richard C. Holbrooke Distinguished Achievement Award. She receives $10,000 as prize money.
- The award celebrates the power of literature to create peace, social justice and understanding around the world.
Art scholar and Padma Vibhushan recipient, Kapila Vatsyayan passes away
Scholar, author and connoisseur of the arts Kapila Vatsyayan passed away at her Delhi home. She was 92.
- Vatsyayan, who was awarded the Padma Vibhushan in 2011, was the founding director of the Indira Gandhi National Centre for the Arts. A former nominated member of the Rajya Sabha, she was also chairperson of the Asia Project at the IIC.
- Vatsyayan authored nearly 20 books on different forms of art and their histories in her long career.
Tamil Nadu: Prominent Ayurveda physician PR Krishnakumar passes away
In Tamil Nadu, prominent Ayurveda physician and Managing Director of the iconic Coimbatore Arya Vaidya Pharmacy, PR Krishnakumar passed away in Coimbatore. He was 69.
- Krishnakumar, who had done yeomen service for the popularisation of the Ayurvedic system of medicine had been conferred the Padmasri award in 2009.
- He had also been the recipient of the National Ayurveda Award instituted by the Government of India.
- Besides being the founder of AVP Research Foundation, Krishnakumar was also the Chancellor of the renowned Avinashilingam University in Coimbatore.
Mali’s former president Moussa Traore passes away
Mali’s former president Moussa Traore, who was in power from 1968 to 1991, has passed away. He was 83.
- He was a former military leader, forcibly took over the reign from Modibo Keita (known as the ‘father of independence’), after participating in a military coup.
- However, in March 1991, he himself was overthrown by popular protests and a military takeover.