Daily Current Affairs 1 September 2020 for Banking/Insurance/SSC and other related exams.
India’s first toy cluster to come up in Karnataka
India’s first toy manufacturing cluster to come up at Koppal, Karnataka, has the potential to create 40,000 jobs in five years and attract over Rs 5,000 crore investment, Karnataka Chief Minister BS Yediyurappa, said.
- With the eco-system to support toy cluster in place, this 400 acres SEZ will have top-class infra and generate 40,000 jobs in 5 years.
Seaplane service in Gujarat to start from 31 October
Seaplane service to provide air connectivity from Sabarmati Riverfront in Ahmedabad to Statue of Unity in Kevadia in Gujarat is scheduled to start from October 31, the birth anniversary of Sardar Patel.
- The service will be operated by Spicejet Airline.
Indian Railways develops remote-controlled medical trolley ‘MEDBOT’ to deliver food, medicines to COVID-19 patients
During Corona crisis, apart from providing transport facilities and essential items like foodgrains to people, Indian Railways has also provided facilities for COVID-19 patients.
- It has developed a remote-controlled medical trolley named ‘MEDBOT’ to help deliver food and medicines to COVID-19 patients.
- It is providing service in the Central Hospital of the Diesel Rail Engine Factory of Indian Railways.
India to receive development assistance loan worth Rs 3,500 Cr from Japan to fight COVID-19
Japan has committed an official Development Assistance loan of 3 thousand 500 crore rupees for the COVID-19 Crisis Emergency Response Support.
- This programme loan aims to support India’s efforts in fighting COVID-19 and to prepare the health system to manage future epidemics and also to improve the resilience of India’s health systems against infectious diseases.
BANKING & FINANCE
RBI Announces Steps to Ease Pressure on Liquidity
The RBI announced a host of steps, including term repo operations totalling Rs 1 lakh crore in mid-September to ease pressure on the liquidity and maintain congenial financial conditions with a view to ensuring sustainable recovery of economic growth.
- The RBI said that in order to reduce the cost of funds, banks that had availed of funds under long-term repo operations (LTROs) may exercise an option of reversing these transactions before maturity.
- The banks may reduce their interest liability by returning funds taken at the repo rate prevailing at that time (5.15 per cent) and availing funds at the current repo rate of 4 per cent. The last date for paying the second instalment of advance tax is September 15.
Vedanta ties up with SBI for long-term syndicated loan of Rs 10,000 cr
Vedanta Ltd said it has tied up with State Bank of India for a long-term syndicated loan facility worth Rs 10,000 crore.
- SBICAP Trustee Company Ltd as the security trustee with door to door tenor of seven years. State Bank of India has given a commitment of Rs 5,000 crore as a lender.
- A syndicated loan is offered by a group of lenders who work together to provide credit to a large borrower.
BUSINESS & ECONOMY
Defence Ministry Inks Rs 2,580-crore Deal to Procure Pinaka Rocket Launchers
The defence ministry sealed a deal with two leading domestic defence majors to procure Pinaka rocket launchers for six Army regiments at a cost of Rs 2,580 crore.
- The contract has been signed with Tata Power Company Ltd (TPCL) and engineering major Larsen & Toubro (L&T) while defence public sector undertaking Bharat Earth Movers Ltd (BEML) will also be part of the project. The BEML will supply the vehicles on which the rocket launchers will be mounted.
- The six Pinaka Regiments comprise 114 launchers with Automated Gun Aiming and Positioning System (AGAPS) and 45 Command Posts. The missile regiments are planned to be operationalised by 2024.
‘Agriota’ e-market platform launched to bridge gap between Indian farmers, UAE food industry
The UAE has launched Agriota, a new technology-driven agri-commodity trading and sourcing e-market platform that will bridge the gap between millions of rural farmers in India and the Gulf nation’s food industry.
- Under the initiative by the Dubai’s free-zone Dubai Multi Commodities Centre (DMCC) and the government of Dubai’s authority on commodities trade and enterprise, millions of Indian farmers will get an opportunity to connect directly with the entire food industry in the UAE.
Lewis Hamilton wins Belgian Grand Prix to secure 89th victory of career
Lewis Hamilton led from start to finish at the Belgian Grand Prix to clinch his 89th career win .The second place is secured by Red Bull’s Max Verstappen.
- Hamilton’s fifth win from seven races also extended his championship lead over Verstappen to 47 points with Bottas drifting 50 back in third. Hamilton is odds-on to win a seventh title to tie Schumacher’s record
ACQUISITIONS & MERGERS
Adani Group acquires 74 per cent stake in Mumbai International Airport
The Gautam Adani-led Adani group has acquired a 74 per cent stake in Mumbai International Airport Limited (MIAL), a joint venture between the Airports Authority of India and GVK Industries.
- The deal will help Adani Airport Holdings Limited (AAHL), the holding company of Adani Group for airports business and a subsidiary of Adani Enterprises Limited, wrest control over the under construction Navi Mumbai International Airport Ltd (NMIAL) which is 74 per cent owned by MIAL.
Brookfield gets govt’s approval for purchase of Reliance telecom tower assets
India’s government has approved Brookfield Asset Management Inc.’s proposal to acquire a 252 billion rupees ($3.4 billion) stake in a trust that manages the wireless infrastructure of the nation’s biggest mobile-phone service provider Reliance Jio Infratel Pvt. through Tower Infrastructure Trust.
- The investment is in the form of over Rs 105 crore in equity and the remainder as debt.
Tamil Nadu Appoints India’s First-ever Woman Ambulance Driver Under New Initiative by CM Palaniswami
A woman was appointed as ambulance driver in Tamil Nadu, claimed to be the first in the country, as Chief Minister K Palaniswami flagged off 118 as part of an initiative to strengthen emergency services in the state.
- M Veeralakshmi was appointed driver of one of the newly launched ‘108’ ambulances and it is a ‘first’ in the country.
- Ninety ambulances equipped with life saving medicalequipment, 10 high tech vehicles for use by 10 governmentblood banks for transporting blood collected in camps and 18 ambulances donated by an entertainment television channelgroup for anti-COVID tasks were flagged off.
Hyderabad International Airport wins CII-GBC ‘National Energy Leader’ award
The GMR led Hyderabad International Airport was awarded at the 21st National Awards for ‘Excellence in Energy Management” organized by CII and GBC, during the 19th edition of ‘Energy Efficiency Summit”, Virtual Conference and Exposition on Energy Efficiency.
- The airport is also a Carbon Neutral Airport having Level 3 + “Neutrality” Accreditation from Airports Council International (ACI) under its Airport Carbon Accreditation (ACA) programme.
Jayanti Bahera, Deep Grace Ekka receive Biju Patnaik Sports Award
Jayanti Behera and Deep Grace Ekka received Biju Patnaik Sports Award for outstanding performance in sports and games. Both of them received Rs. 2 lakh cash award each.
- Similarly Biju Patnaik Bravery Award was received by Purnima Giri and Sabita Giri who received cash award of rupees one lakh each, medal and citation.
- Biju Patnaik Sports Award for excellence in coaching went to Satya Ranjan Patnaik.
- Besides Siba Prasad Das received a cash award of Rs.32,50,000 for coaching to sports persons with disability. Among others, Padmini Rout, Hupi Majhi, Rajashree Mohapatra, Manisha Merel, Pratyasha Ray also received cash awards.
SCIENCE & TECHNOLOGY
IIT Bombay develops portal to arrange transport for NEET, JEE candidates to test centres
Five students of the Indian Institute of Technology (IIT), Bombay, have designed a web portal to help candidates appearing for National Eligibility-cum-Entrance Test (NEET) and Joint Entrance Examination (JEE) find transport to their test centres.
- EduRide is a web portal that connects candidates across the country with volunteers willing to drive or arrange a vehicle to their respective test centres.
- Any NEET or JEE candidate can log in on the website, enter details of location of residence and test centres.
September to be observed as ‘Nutrition Month’: PM Modi in Mann ki Baat
September would be celebrated as the “Poshan Maah” or “Nutrition Month”,Prime Minister Narendra Modi said in ‘Mann in Baat’ radio programme.
- He also informed that schools should have not just report cards but also nutrition cards and nutrition monitors along with class monitors.
- During the Nutrition Month, Food and nutrition Quiz and meme competition will be organised by the MyGov portal