Daily Current Affairs 15 December 2020 for Banking/Insurance/SSC and other related exams.
Norway Research Institute signs an MoU with Clean Ganga Mission for development of sludge management framework
Norwegian Institute of Bioeconomy Research has signed an MoU with cGanga, a think-tank of National Mission for Clean Ganga (NMCG) for development of sludge management framework in India.
- The MoU was signed at the 5th India Water Impact Summit which is a five-day-long summit, hosting experts and academicians from all over the world to discuss and debate issues related to water conservation, water security and river rejuvenation. The event is co-organised by NMCG and cGanga.
- The MoU is said to be a major breakthrough for both organisations.
9th edition of Sustainable Mountain Development Summit held in Dehradun
The ninth edition of the Sustainable Mountain Development Summit (SMDS) in Dehradun has begun.
- The theme for this year is Emerging Pathways for Building a Resilient Post COVID-19 Mountain Economy, Adaptation, Innovation and Acceleration.
- The summit will focus on the overall objective of building pathways toward a resilient and sustainable mountain economy in the context of a post COVID-19 scenario and Climate Change.
Bangladesh-India Cotton Fest held in Dhaka
The second Bangladesh-India Cotton Fest 2020 was held in Dhaka, Bangladesh.
- Bangladesh Cotton Association (BCA) jointly organized the festival, in cooperation with Bangladesh Textile Mills Association (BTMA), Indian Cotton Association Ltd. (ICAL), India-Bangladesh Chamber of Commerce and Industry (IBCCI).
- Salman F Rahman, private industry and investment adviser to the prime minister, was the chief guest at the event, organised by Bangladesh Cotton Association. The festival focuses on the development of trade relations between the two countries.
BANKING & FINANCE
RBI Clears Re-appointment of Uday Kotak as Managing Director of Kotak Mahindra Bank for 3 Years
Private sector Kotak Mahindra Bank (KMB) said the RBI has approved the re-appointment of Uday Kotak as managing director of the bank for a further period of three years.
- The banking sector regulator also approved the appointment of part-time chairman Prakash Apte for three years.
- It may be noted that the board of the bank and the shareholders had approved these re-appointments, subject to the approval of the RBI, at their respective meetings held on May 13, 2020, and August 18, 2020.
EXIM Bank extends LOC of $448 million to Uzbekistan
Export-Import Bank of India (Exim Bank), on behalf of the Government of India, has extended a Line of Credit (LOC) of $448 million to the Government of Republic of Uzbekistan.
- This LOC is for financing various projects in the Roads & Transport, Water and Technology & Communication sectors in Uzbekistan.
- With the signing of this LOC Agreement, Exim Bank has now in place 266 Lines of Credit, covering 62 countries in Africa, Asia, Latin America, CIS and the Oceania, with credit commitments of around $26.59 billion, available for financing exports from India.
SEBI forms new department to check promoter frauds
Market regulator SEBI has set up a specialised department to tackle cases of diversion of funds, bank loans and resources by company promoters.
- The new department will be known as the Corporation Finance Investigation Department (CFID).
- The new department will even check if resources like company land, guest houses or vehicles are misused by promoters.
Aceware Fintech launches service for doorstep withdrawal of money
Aimed at enabling withdrawal of money from a bank account from the comfort of home, Aceware, a fintech company based in Infopark, has launched Ace Money Micro ATM service in Kochi.
- Initially, the service will be available in Kochi city, and the company has already recruited delivery executives for rolling out the service. The company is planning to expand the service to all the municipalities in the State by January 2021.
- Aceware is rolling out the service in association with ICICI Bank. Customers can place an order for money on Ace Money app, which can be downloaded from Google Play Store and App Store. The money will be delivered at the doorstep within 30-40 minutes after placing the order.
BUSINESS & ECONOMY
Ola to Invest Rs 2,400 Crore in Tamil Nadu, Will Set Up Largest Electric Scooter Factory
Ride-hailing platform Ola said it has inked an agreement with the Tamil Nadu government to invest Rs 2,400 crore for setting up its first electric scooter factory in the state.
- Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility that will initially have an annual capacity of 2 million units.
Crisil Revises FY21 GDP Contraction Projection to 7.7% on Higher Economic Activity
Ratings agency Crisil revised upwards its FY21 GDP contraction estimate to 7.7 per cent from the earlier expectation of 9 per cent, and termed lower government spending as a “constraint” for growth
- The agency, which is a unit of Standard & Poor’s, said a faster than expected revival in the economic activity in the second quarter, which continued in the festival season, is the prime reason for the upward revision in its estimate.
- It said the pandemic, which has pushed the economy into contraction mode, will result in a permanent loss of 12 per cent in real GDP terms.
Amazon and CII join hands to bring e-commerce gains to MSMEs in 10 states
At the 17th Confederation of Indian Industry (CII) Global SME Business Summit, Amazon.in and CII signed a Memorandum of Understanding (MoU) to bring the benefits of ecommerce to micro small and medium enterprises (MSMEs) in 10 states across India.
- Amazon.in and CII will work closely with the Ministry of MSME to enable lakhs of MSMEs across these states to leverage technology to reach customers in India and globally.
Yash Vardhan wins 10m air rifle event in online meet
Junior Asian champion Yash Vardhan of India won the 10m air rifle event at the 6th edition of the International Online Shooting Championship (IOSC)
- The 17-year-old Yash shot a score of 251.9 to win the title with a margin of 1.2 point.
- Yash, who had finished second in the third edition of IOSC, shot the best qualification score of 633.0, just 0.5 point less than the world record.
Odisha to host 2023 FIH Men’s Hockey World Cup at Bhubaneswar and Rourkela
The International Hockey Federation (FIH) had announced that the 2023 FIH Men’s Hockey World Cup will be hosted in Odisha, for a second consecutive time.
- The tournament will be held at two venues, Kalinga Stadium in Bhubaneswar and Biju Patnaik Hockey Stadium in Rourkela.
- The 2023 tournament will be 15th edition of the Men’s FIH Hockey World Cup.
SCIENCE & TECHNOLOGY
GRSE Kolkata launches ‘Himgiri’, its 1st Ship of Project 17A
The first GRSE-built Project 17A stealth frigate ‘Himgiri’, which will add to the might of the Indian Navy, was launched, with Chief of Defence Staff (CDS) General Bipin Rawat describing it as a historic moment.
- Under the Project 17A program, a total of seven ships, four at Mazagon Dock Shipbuilders Limited (MDL) and three ships at GRSE are being built with enhanced stealth features, advanced indigenous weapon and sensor fit along with several other improvements.
- P17A ships are the most advanced guided missile frigates, each of which is 149 metres long, with displacement of approximately 6,670 tonnes and a speed of 28 knots. P17A ships are the first gas turbine propulsion and largest combat platforms ever built at GRSE.
Padma Vibhushan Awardee and Eminent Aerospace Scientist Roddam Narasimha passes away
A renowned aerospace scientist and Padma Vibhushan recipient, Roddam Narasimha, passed away at a private hospital in Bangalore. He was 87.
- Prof Narasimha made a mark in the field of aerospace and as a fluid dynamicist. He taught Aerospace Engineering at the IISc from 1962 to 1999. He also served as the director of the National Aerospace Laboratories from 1984 to 1993.
- Considering his contribution, the Central government bestowed on him Padma Vibhushan, the second-highest civilian award of India, in 2013.
- Dr Kalam and Prof Narasimha had together authored a book – Developments in Fluid Mechanics and Space Technology.
1962 Asian Games gold medalist D Ethiraj passes away
Former India international D Ethiraj passed away at his residence Jogupalya, Bengaluru, at the age of 86.
- Ethiraj was a part of the Indian football team that finished on top of the podium at the 1962 Asian Games. The Indian team led by the legendary Chuni Goswami defeated South Korea 2-1 in the Games final to clinch the gold medal.
- He was a part of the national team during the ’50s and ’60s, which are widely regarded as the golden era of Indian football. D Ethiraj has a stadium named after him in MEG Bangalore as a testament to his achievements on the pitch.
South Korean filmmaker Kim Ki-duk passes away
Renowned South Korean filmmaker Kim Ki-duk died of complications from COVID-19 in Latvia. He was 59.
- Kim K-duk was a South Koren filmmaker who was conferred with various awards for his work. He was the recipient of Golden Lion at 69th Venice International Film Festival and the Silver Lion for Best Director at the 61st Venice International Film Festival.
- Kim Ki-duk made his directorial debut in 1996 with Crocodile.The late filmmaker’s last release was a Russian film titled Dissolve. The film was screened at the Cannes Film Festival in 2019.
- Other popular releases of the filmmaker include Spring, Summer, Fall, Winter and Spring, 3-Iron, One on One, Samaritan Girl, Arirang and Pietà.