Daily Current Affairs 16 September 2020 for Banking/Insurance/SSC and other related exams.
Cabinet approves establishment of new AIIMS at Bihar’s Darbhanga
The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the establishment of a new All India Institute of Medical Sciences (AIIMS) at Darbhanga, Bihar.
- The total cost will be Rs.1264 crore and is likely to be completed within four years from the date of the approval of Government of India. The medical college will have 100 MBBS seats.
Govt issues Postage Stamp commemorating First Successful Anti-satellite Missile Test
A postage stamp commemorating the first successful anti-satellite missile (A-SAT) test was released in the presence of National Security Advisor Ajit Doval.
- The government-run DRDO had successfully conducted the first A-SAT test on March 27 last year was termed ”Mission Shakti”. The A-SAT Missile was launched from Dr APJ Abdul Kalam Island in Odisha and it successfully engaged an Indian orbiting target satellite in Low Earth Orbit (LEO) in a ’Hit to Kill’ mode.
Delhi Govt Launches Helpline to Promote Nutrition, Maternity Benefits for Women and Children
The Delhi Commission for Protection of Child Rights (DCPCR) launched a health and nutrition helpline to ensure children under six years of age get nutritional supplements and regular immunisation doses.
- The helpline, ‘Sehat evam Poshan Saathinwas’, will remain operational 24X7 in collaboration with NGO Indus Action.
- Once a call is received on the number, 011-41193903, the team at the DCPCR will connect back with the caller within one-two days and register the grievance.
J&K Horticulture Dept launches “Backyard Horticulture” programme under CAPEX scheme in Jammu district
In Jammu and Kashmir, the Horticulture Department has launched the Flagship programme “Backyard Horticulture” under CAPEX scheme at Panchyat Jaswan in Marh block of Jammu district.
- Under the programme, at least three fruit plants costing Rs. 200 will be distributed among the farmers at 90% subsidy covering 600 households in Zone Marh.
- The main aim of the programme is to promote organic fruit production for home consumption and to fulfill individual requirement.
Mizoram, Punjab, Andaman and Nicobar Islands Top India Happiness Report 2020; Maharashtra, Delhi, Haryana at Bottom
The first all India Happiness Report covering all states and Union Territories measuring happiness across the country, which is based on a nationwide survey covering 16,950 people between March and July 2020 by Professor Rajesh K Pillania.
- In the happiness rankings of states and union territories, Mizoram, Punjab, Andaman and Nicobar Islands are the top three. Among the big states, Punjab, Gujarat, and Telangana are among the top three states whereas, among smaller states, Mizoram, Sikkim, and Arunachal Pradesh are the top three states in happiness rankings. Among union territories, Andaman and Nicobar Islands, Puducherry, and Lakshadweep are the top three union territories in happiness rankings
- Maharashtra, Delhi, and Haryana have shown the worst possible impact of COVID-19 on happiness, whereas Puducherry and Jammu and Kashmir are neutral and Manipur, Andaman and Nicobar Islands, and Lakshadweep have shown the best possible impact of COVID-19 on happiness.
Bollywood star Amitabh Bachchan is the new voice of Amazon’s Alexa
Amazon announced that the Bollywood star Amitabh Bachchan will lend his voice to the tech giant’s assistant device Alexa starting next year.
- He will be the first Indian actor to voice the Amazon artificial intelligence gadget. The new feature will be available for India.
Mexico issues ‘world’s first’ sovereign bond linked to U.N. sustainability goals
Mexico became the first country in the world to issue a sovereign bond linked to the sustainable development goals set by the United Nations, raising EUR 750 million ($890 million).
- The seven-year bond will pay an interest rate of 1.6% with a 1.3% coupon.
- The bond drew interest from 267 institutional investors worldwide. Green bond issues have gained traction in 2019 and 2020 after the first was issued almost four years ago. Mexico’s bond will be used to fund programs to meet the SDGs.
TikTok has chosen Oracle as U.S. ‘technology partner’
ByteDance has chosen Oracle as a US partner for its popular TikTok video service, a decision that comes as a deadline for a ban of the popular app draws near.
- The partnership was signed by the two entities as in an executive order signed last month, President of the United States, Donald Trump stated that TikTok would be blocked in the US if it did not sell its US operations to an American company by 20th of September 2020.
BANKING & FINANCE
NABARD Sanctions Rs 1,568 crore worth of proposals under Agriculture Infrastructure Fund
The National Bank for Agriculture and Rural Development (NABARD) has given in-principle sanction for Rs 1,568 crore worth of proposals received from agri-credit societies in 22 states under the recently launched Rs 1 lakh crore Agri Infrastructure Fund.
- So far, NABARD has received 3,055 proposals of PACS (Primary Agriculture Credit Societies) through state cooperative banks in 22 states for which in-principle sanction of Rs 1,568 crore has been accorded.
SBI General Insurance, YES Bank ink corporate agency agreement
SBI General Insurance and YES Bank have signed a corporate agency agreement for the distribution of the general insurer’s retail products to customers of the private sector lender.
- The partnership will be committed to offering customers a broad range of non-life insurance products and services and deploying technology across the customer value chain to facilitate superior experiences for them.
BUSINESS & ECONOMY
RBI asks banks to fully automate NPA recognition process
The Reserve Bank of India has mandated banks to fully automate NPA classification and provisioning calculation process.
- All borrower accounts will be covered under the new regime. Lenders will have time till June 30, 2021 to complete this process.
- The new guidelines will include all borrower accounts, including temporary overdrafts, irrespective of size or sector. Banks’ investments will also be covered under the new system.
Indian economy will contract by 9% in 2020-’21, says Asian Development Bank
The Asian Development Bank has said that India’s economy will contract by 9% in the 2020-’21 financial year.
- The contraction in the Gross Domestic Product is the result of lack of economic activity due to a lockdown imposed to curb the spread of the coronavirus.
- This will be the first time in four decades that the Indian economic growth will contract.
Paytm First Games ropes in Sachin Tendulkar as brand ambassador
Paytm First Games, a subsidiary of the digital financial service platform Paytm, has signed cricketing legend Sachin Tendulkar as the brand ambassador for the platform, ahead of the 2020 edition of the Indian Premier League (IPL).
- Paytm First Games (PFG) has also set aside Rs 300 crore to spend on marketing and promotions during the remaining six months of the current financial year, to grow its market share in the space currently dominated by Dream11.
Edtech startup Great Learning ropes in Virat Kohli as brand ambassador
Educational technology company Great Learning said it has roped in Indian cricket team captain Virat Kohli as its brand ambassador.
- As the face of the Great Learning brand, Kohli will now lead the brand’s latest ‘Power Ahead’ campaign, which underlines the importance of lifelong learning and showcases how high quality learning at the right time can help professionals and students power ahead in their career.
Yoshihide Suga elected as Japan’s new prime minister
Yoshihide Suga has been elected as Japan’s new Prime Minister, after Shinzo Abe’s resignation. Suga, the former chief cabinet secretary, will become the country’s first new PM in eight years.
- Suga, 71, won an easy victory, taking 314 votes of 462 valid ballots cast in the lower house of parliament, where his ruling Liberal Democratic Party (LDP) holds a commanding majority.
Asian Development Bank appoints Takeo Konishi as Country Director for India
The Asian Development Bank (ADB) said it has appointed Takeo Konishi as its new Country Director for India.
- Konishi succeeds Kenichi Yokoyama who has taken over as Director General of ADB’s South Asia Department and will be based at ADB headquarter in Manila, Philippines.
Aditya Puri conferred Lifetime Achievement Award by Euromoney Awards of Excellence 2020
In a first-of-its kind recognition for an Indian corporate leader, Aditya Puri, MD, HDFC Bank was conferred the Lifetime Achievement Award by Euromoney Awards of Excellence 2020.
- The publication has recognised the iconic leader for his skills in building a world-class Indian bank at a time where there were no similar institutions in existence.
‘My Life in Design’: Gauri Khan announces her debut book
Entrepreneur and wife of Bollywood star Shah Rukh Khan, Gauri Khan is all set to turn an author with her debut book titled ‘My Life In Design’. In this book, Gauri will share her journey as a designer.
- The book is expected to release in 2021 and will be published by Penguin India.
Former Chhattisgarh Minister Chanesh Ram Rathiya passes away
Former Chhattisgarh minister and veteran Congress leader Chanesh Ram Rathiya died of COVID-19 at a hospital in Raigarh. He was 78 years old.
- Rathiya, a prominent tribal leader from north Chhattisgarh, was elected as an MLA for the first time in 1977 from Dharamjaigarh constituency in the then undivided Madhya Pradesh. He subsequently won five more Assembly elections in a row from the same seat.
- He served as animal husbandry minister in the Digvijaya Singh led-Congress government in erstwhile Madhya Pradesh, and was the food and civil supplies minister in the Ajit Jogi government (2000-2003) after the formation of Chhattisgarh in 2000.
Former India player Sadashiv Raoji Patil passes away
Former India player Sadashiv Raoji Patil, who played one Test match, passed away at his residence in Kolhapur . He was 86. A fast bowling all-rounder, Patil featured in 36 First-Class matches for Maharashtra from 1952-1964, scoring 866 runs and taking 83 wickets. He had also captained Maharashtra in the Ranji Trophy.
- However, his international career comprised of just one Test in which he made 14 runs and picked two wickets, helping India win the match by an innings.He also played in the Lancashire League.
International Day of Democracy
The International Day of Democracy is celebrated around the world on 15 September each year. The day allows us the opportunity to celebrate and appreciate our democratic society.
- The theme for International Day of Democracy 2020 is “COVID-19: A Spotlight on Democracy.”
International Day for the Preservation of the Ozone Layer
Every year, September 16 is celebrated as World Ozone Day across the world to aware people about the depletion of the Ozone Layer and its impact on life.
- The theme of World Ozone Day 2020 is ‘Ozone for Life: 35 years of ozone layer protection’. This year marks the 35 years of global ozone layer protection.
- The slogan of the day is kept to remind the importance of Ozone shield for the existence of life on Earth.