Daily Current Affairs 1 April 2020 for Banking/Insurance/SSC and other related exams.
Govt extends crop loan interest benefits to farmers till May 31
In the wake of national lockdown due to Covid-19, the Government has extended the benefit of two per cent Interest Subvention to Banks and three per cent Prompt Repayment Incentive to all farmers upto 31st of May this year.
- The interest subsidy has been extended to all crop loans upto 3 lakh rupees given by banks which have become due or are becoming due between 1st of this month to 31st May, 2020.
Tourism Ministry launches ‘Stranded in India’ portal to help foreign tourists stuck in India
The Ministry of Tourism has launched a portal ‘Stranded in India’ to help foreign tourists who are stuck in various parts of the country.
- The aim of the portal to extend support to the foreign tourists who are stranded in India, the Ministry of Tourism has come up with a portal to disseminate information regarding the services that can be availed by foreign tourists who are stuck far away from their home land.
“Active Case Finding Campaign” starts in Himachal Pradesh
Himachal Pradesh government launched Active Case Finding Campaign for COVID 19 patients. Under this campaign, health workers would provide information regarding symptoms of Covid-19 to the people at their doorsteps.
- Under the Active Case Finding Campaign, every ASHA worker with two person’s team will visit every house in the village and gather health information of every person and would share it with the department through Google form.
Tamil Nadu: ‘Modi Kitchen’ begins in Kovai, Coimbatore
‘Modi Kitchen’ with a capacity to serve 500 meals every day has started functioning in Kovai (Coimbatore). The kitchen, based near Cross Cut road, one of the main shopping areas of the city, has made arrangements to deliver food parcels within a radius of 10 kms too.
- The assorted parcels include a main dish, two kinds of side dishes and a sweet. The dishes are prepared under advice from nutrition experts
- The functionaries of the Common Service Centre, which has organised the kitchen said that they plan to provide the service till April 14th.
‘Post Office on Wheels’ services to begin in UP
The India Post extended its ‘Post Office on Wheels’ services in UP’s Agra and Bareilly in order to ensure seamless delivery of posts and services to the citizens during the coronavirus lockdown.
- This comes a day after Union Minister Ravi Shankar Prasad gave instructions to the Postal Department to promote and establish “Post Office on Wheel” in all the circles.
UN calls for $2.5 trillion coronavirus crisis package for developing countries
With two-thirds of the world’s population living in developing countries (excluding China) facing unprecedented economic damage from the COVID-19 crisis, the United Nations is calling for a 2.5 trillion dollars package for these countries to turn expressions of international solidarity into meaningful global action.
- The speed at which the economic shockwaves from the pandemic has hit developing countries is dramatic, even in comparison to the 2008 global financial crisis.
- Portfolio outflows from main emerging economies surged to 59 billion dollars in a month between February and March, calculations show. This is more than double the outflows experienced by the same countries in the immediate aftermath of the 2008 global financial crisis (26.7 billion dollars).
BANKING & FINANCE
BhartPe, ICICI Lombard join hands for COVID-19 cover for shopkeepers
BharatPe, a digital transactions interface for merchants, and general insurer ICICI Lombard have joined hands for a low cost COVID-19 insurance cover for shopkeepers acrossIndia.
- The ‘COVID-19 Protection Insurance Cover’ comes at an affordable premium starting at Rs199 with Rs 25,000 cover, and will pay 100 per cent of the sum insured irrespective of hospitalization expenses if a shopkeeper is tested positive of COVID-19.
BUSINESS & ECONOMY
FPI limit in corporate bonds raised to 15% for FY21
The Reserve Bank of India (RBI) hiked the limit for foreign portfolio investors’ (FPI) investment in corporate bonds to 15 per cent of outstanding stock for FY2020-21.
- At present, FPIs can invest Rs 3.17 lakh crore in Indian corporate bonds. With the enhanced limit, they can hold Rs 4.29 lakh crore of corporate bonds for the half year ended September 2020, and Rs 5.41 lakh crore for the half year ending March 2021.
Affordable housing firm Aavas gets $60m ADB loan
The Asian Development Bank (ADB) has signed an agreement to lend up to $60 million to Aavas Financiers Ltd , a housing finance company in India, to improve access to housing finance for lower-income borrowers, particularly women.
- ADB’s loan to Aavas will enable more property ownership among women and in lagging states across the country.
S&P further slashes India’s growth forecast to 3.5% from 5.2% for FY21
S&P Global Ratings has further slashed India’s growth forecast to 3.5% for the coming fiscal from a previous downgrade to 5.2% as it expects the damages to the economy from the covid-19 pandemic for the Asia-Pacific region to be as severe as the one during the Asian financial crisis of 1997-98.
- The earlier downgrade to India’s FY21 growth rate came two weeks ago on March 17, before the 21-day lockdown was announced by Prime Minister Narendra Modi. S&P had cited global recession affecting the Asia-Pacific region while lowering its India estimate to 5.2% from 5.7% in February.
Tata Power JV commences commercial operations of 178 MW Shuakhevi HPP in Georgia
Adjaristsqali Georgia LLC, a Joint Venture between Tata Power, Norway’s Clean Energy Invest (CEI), and International Financial Corporation (IFC) has announced the start of commercial operation of the 178 MW Shuakhevi Hydro Power Project (Shuakhevi HPP) located in southwest Georgia. Further, AGL will be soon commissioning the 9 MW Skhalta Hydro Power project which is also a component of the overall Shuakhevi Project scheme.
- The project will generate around 450 GWh of clean energy to reduce the emission of greenhouse gases by more than 200,000 tonnes a year.
Legendary historian Arjun Dev passes away
Professor Arjun Dev, the legendary educationist and historian, a kind, gentle and generous but extremely brave man, passed away in Noida.
- Prof. Arjun spent the better part of his academic life working as a historian at the National Council of Educational Research and Training (NCERT). In partnership with Indira he wrote a number of extremely popular textbooks for the NCERT on Modern and Contemporary India and the World.
- One of his books, which was discontinued by NCERT and was republished by Orient Blackswan as “History of the World: From the Late 19th to the Early 20th century”, has remained a widely read text
‘Star Wars’ actor Andrew Jack passed away
‘Star Wars’ actor Andrew Jack has died from COVID-19 related health complications. He was 76.
- Jack was also a dialect coach along with being an actor.He has worked with actors on films like ‘Men in Black: International’, ‘Thor: Ragnarok’, ‘The Lord of the Rings trilogy’ and two ‘Avengers’ movie.