Daily Current Affairs 1 November 2020 for Banking/Insurance/SSC and other related exams.
Fehmarnbelt Tunnel will be the world’s longest immersed tunnel
After more than a decade of planning, work has begun on the world’s longest immersed tunnel. Descending up to 40 meters beneath the Baltic Sea, Fehmarnbelt Tunnel will link Denmark and Germany, slashing journey times when it opens in 2029.
- The tunnel, which will be 18 kilometers (11.1 miles) long, is one of Europe’s largest infrastructure projects, with a construction budget of over €7 billion ($8.2 billion).
BANKING & FINANCE
RBL Bank and Visa launch instant payouts for fintechs
India-based private sector lender RBL Bank has launched instant payouts for fintech firms by partnering with payments giant Visa.
- Under this partnership, the bank will leverage Visa’s real-time push payments platform Visa Direct, across the country.
- It will allow RBL Bank to create technology-led banking solutions catering to the growing needs of merchants and partners. Further, this will enable fintech firms to create digital payment solutions for the end customer.
P&G India announces ₹400 crore India Growth Fund
Procter & Gamble (P&G) India has announced a growth fund of Rs 400 crore to give a hand to the government’s vision of a self-reliant country.
- The fund would be utilised to localise manufacturing of finished products, procurement of raw materials and packaging materials and to adopt go-to-market innovations and technology.
- This new fund is part of P&G India’s ‘vGROW’ program that focuses on identifying and collaborating with start-ups, small businesses, individuals or large organisations offering innovative industry-leading solutions.
BUSINESS & ECONOMY
HAL inks Rs 400-crore pact with Tech Mahindra for project Parivartan
Hindustan Aeronautics Ltd (HAL) said the company signed a contract worth Rs 400 crore with Tech Mahindra for implementation of enterprise resource planning (ERP) to support its project Parivartan.
- As a system integrator, Tech Mahindra will implement project Parivartan over a period of nine years at a cost of Rs 400 crore.
- Project Parivartan is a comprehensive business transformation exercise initiated by HAL through technology enhancement and centralised ERP.
Amit Panghal, Sanjeet and Ashish Kumar Clinch Gold at French Boxing Tournament
World silver-medallist Amit Panghal (52kg) and Sanjeet (91kg) struck gold in their first competition after a coronavirus-forced break, claiming the top honours at the Alexis Vastine International Boxing Tournament in Nantes, France.
- However, Asian silver-medallist Kavinder Singh Bisht (57kg) settled for a silver medal after going down to local favourite Samuel Kistohurry in a split 2-1 verdict. India had earlier secured three bronze medals through four-time Asian medallist Shiva Thapa (63kg), Sumit Sangwan (81kg) and Satish Kumar (+91kg). All three of them lost in the semifinal stage.
- This was the first international competition that Indian boxers featured in since the Olympic qualifiers in Jordan in March. In that event, nine Indians — five men and four women — qualified for the Tokyo Olympics, postponed to next year because of the COVID-19 pandemic.
Ritu Phogat wins third straight MMA title
Former Indian wrestler and now a Mixed Martial Arts star, Ritu Phogat won her third consecutive MMA championship title in Singapore.
- 26-year-old Phogat defeated Cambodia’s Nou Srey Pov with a technical knockout win in the second round.
- The match was part of ONE Championship’s ONE: INSIDE THE MATRIX event that featured four exciting World Championship contests at the Singapore Indoor Stadium.
ACQUISITIONS & MERGERS
Axis Bank to buy 19% stake in Max Life vs 17% earlier
Private lender Axis Bank Ltd said that it will acquire up to 19% in Max Life Insurance Co. Ltd. through various Axis entities since the Reserve Bank of India has turned down the bank’s earlier proposal to directly buy a stake of 17% in the life insurer.
- As per the revised agreements, Axis Bank will acquire upto 9% stake in Max Life. Axis Capital Ltd. and Axis Securities Ltd will together acquire upto 3% in Max Life. In addition, Axis Entities will have a right to acquire an additional stake of upto 7% of Max Life, in one or more tranches.
SCIENCE & TECHNOLOGY
IIT Roorkee develops world 1st biosensor to detect harmful detergent pollutant
A five-member team of researchers at the Indian Institute of Technology (IIT) Roorkee have developed the world’s first specific reliable bacterial biosensor to detect the presence of common environmental pollutant- Sodium Dodecyl Sulphate /Sodium Lauryl Sulfate (SDS).
- The IIT Roorkee team has developed a whole-cell biosensor using Pseudomonas aeruginosa PAO1 strain as a framework (chassis). The system involves a highly specific regulator along with a fluorescent protein that is produced only when SDS is present in the sample.
Iconic James Bond Star Sean Connery passes away
Iconic Hollywood actor, Sean Connery, most famous for his portrayal of James Bond, has died at the age of 90 in the Bahamas .
- The actor essayed the lead in the James Bond flicks like Dr. No, From Russia with Love, Goldfinger, Thunderball, You Only Live Twice, Diamonds Are Forever, and Never Say Never Again.
- He won the Oscar for best supporting actor for his work in The Untouchables in 1988 and won three Golden Globes. He also starred opposite Harrison Ford in 1989’s Indiana Jones and the Last Crusade, in which he played Jones’ father.
Banjara Community’s Spiritual Leader Ramraoji Maharaj passes away
Dr Ramrao Maharaj, religious leader of Banjara community at Poharadevi in the district, passed away in Mumbai. He was 88.
- Ramrao Maharaj, head of Pohradevi peetha (a pilgrimage centre in Washim district of Maharashtra). He was the seventh peethadhipathi.
- Ramrao Maharaj was coronated as the peethadhipathi after the demise of Parashuram Maharaj in 1948.
Tamil Nadu Agriculture Minister R. Duraikannu passes away at 72
Tamil Nadu Agriculture Minister R. Duraikannu, who was battling Covid-19, has died, a private hospital. He was 72.
- Doraikkannu was elected to the Tamil Nadu Assembly from Papanasam in Thanjavur district in 2006, 2011 and 2016, with the late chief minister J Jayalalithaa inducting him in the cabinet in 2016.
World Psoriasis Day
World Psoriasis Day is an annual day specially dedicated to people with psoriasis/psoriatic arthritis.It was observed every year on 29th October.
- It aims to create awareness and promoting empowerment, taking action regarding improving the quality of life for citizens with psoriasis and psoriatic arthritis.
- The theme for World Psoriasis Day 2020 is “ INFORMED”.