Daily Current Affairs 18 November 2020 for Banking/Insurance/SSC and other related exams.
Vijayanagara, carved out of Ballari, is Karnataka’s 31st District as cabinet gives approval
Vijayanagara, which will be carved out of Ballari district, is set to be Karnataka’s 31st district after Cabinet nod .
- Chief minister BS Yediyurappa had last year announced he will soon place a proposal before the cabinet for approval of carving out Vijayanagara district, which is named after the capital of historic Vijayanagara Empire.
- Hospete, Kampli, Hagaribommanahalli, Kottur, Hadagali and Harapanahalli will form the new district of Vijayanagara with Hospete as the district headquarters. Ballari, Kurugodu, Siraguppa, Sandur and Kudligi taluks will continue to be part of Ballari district, with Ballari city as headquarters.
Puducherry launches free breakfast scheme for students named after M Karunanidhi
The Puducherry government has rolled out a free breakfast scheme for school students named after the late DMK President M Karunanidhi, for government and government aided school students at Jeevanandham Government Higher Secondary School.
- The scheme was an apt tribute to Karunanidhi who championed the cause of downtrodden and poor people and was keenly interested in the development and welfare of people of Puducherry while taking efforts to ensure the rights of states
WHO rolls out global strategy to eradicate cervical cancer by 2050
The World Health Organization (WHO) launched the global strategy to fast track the eradication of cervical cancer. WHO aims to reduce more than 40% of new cases and 5 million related deaths by 2050, with a combination of vaccination, screening and treatment.
- For the first time, 194 countries, including India, committed to eliminate cancer, following the adoption of a resolution at the World Health Assembly 2020 in Geneva.
- The countries should vaccinate 90% of girls aged 15 years with the HPV vaccine by 2030, while 70% of women up to the age of 35 years should be screened using a high-performance test and 90% of women of up to 45 years diagnosed with cervical cancer must receive treatment.
BANKING & FINANCE
HDFC Bank, IndusInd in ‘red flag’ list on nearing foreign investment cap
Private sector lenders HDFC Bank and IndusInd Bank have been put in the so-called ‘red flag’ list, a system used for monitoring foreign portfolio investor (FPI) limits. A listed company enters the list when the available legroom for overseas investment is less than 3 per cent of the permissible limit.
- FPIs can invest up to 74 per cent in both HDFC Bank and IndusInd Bank. The current FPI shareholding in case of HDFC Bank is 71.3 per cent, while that of IndusInd Bank is 73. 1 per cent, data provided by depository firm NSDL shows.
- Besides these two, Novartis India and Procter & Gamble Hygiene and Health Care are the only other companies in the red-flag list.
HDFC Bank launches ‘Mooh Band Rakho’ campaign to create awareness on Cyber Frauds
HDFC Bank Ltd.announced the launch of “Mooh Band Rakho,” a campaign to increase awareness on cyber frauds and preventing them.
- The Bank will be conducting 1,000 workshops in the next 4 months across the country.
- Following simple steps such as not sharing card details, CVV, Expiry Date, OTP NetBanking/ MobileBanking Login ID & Password over Phone, SMS, email and social media can help general public keep their money safe.
- It supports the International Fraud Awareness Week 2020, the global movement to minimise the impact of fraud which is being held from November 15 – 21.
India in ‘Technical Recession’ for 1st time in history, says RBI in ‘Nowcast’
For the first time in history, India’s economy has entered a “technical recession” in the first half of 2020-21, a team of economists, including Michael Patra, Reserve Bank of India’s deputy governor in charge of monetary policy, stated.
- According to the economists, the economy shrank for the second straight quarter. The government had in August reported a 23.9 percent contraction in its Gross Domestic Product (GDP) for the April-June quarter. The central bank has ‘nowcast’ that Gross Domestic Product (GDP) for the July-September quarter is set for a contraction of 8.6 percent.
DIPAM inks agreement with World Bank
Department of Investment and Public Asset Management, DIPAM signed an agreement with World Bank.
- Under the agreement, World Bank is to provide advisory services to DIPAM for asset monetization.
- DIPAM is mandated with facilitating monetization of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of value of Rs. 100 crore and above.DIPAM has a framework for monetizing non-core assets.
RBI names 2 startups as a part of its regulatory sandbox programme
Reserve Bank of India has announced the names of two startups that have been selected as a part of its regulatory sandbox programme. RBI said, it has shortlisted six companies out of 32 entities that had applied for the ‘Test Phase’ of the first cohort.
- The two companies are Jaipur based Natural Support Consultancy Services Private Limited and New Delhi based Nucleus Software Exports Limited.
- While the former has named its product ‘eRupaya’, which will facilitate offline Person-to-Merchant transactions and offline digital payments in remote locations. The second company’s product ‘PaySe’, proposes to help in digitisation of payments in rural areas, starting with Self Help Groups, through an offline payment solution and a digitised SHG-centered ecosystem.
Reserve Bank places Lakshmi Vilas Bank Ltd under moratorium
In view of its weak financials, the Reserve Bank has placed the Lakshmi Vilas Bank Limited under moratorium with immediate effect. The moratorium will be effective for thirty days with a view to protect depositors’ interest.
- Accordingly, RBI has capped all cash withdrawals from the bank to twenty five thousand rupees.
- Meanwhile, RBI has appointed the former Non Executive Chairman of Canara Bank, T. N. Manoharan as the banks’ administrator for the moratorium period.
- Besides, RBI has also announced the draft scheme of amalgamation of The Lakshmi Vilas Bank with Delhi based DBS Bank India Limited – DBIL.
Equitas Small Finance Bank launches savings account for women; appoints Smriti Mandhana as brand ambassador
Equitas Small Finance Bank has launched a new product aimed at women. ‘Eva’, a unique savings account, tries to address the well-being of Indian women in every aspect such as health, wealth and prosperity.
- Eva is available for all women – salaried/homemakers/businesswomen/senior citizens/transwomen as well as non-resident women.
- Along with 7% interest in savings account, it also offers free health check-up and unlimited teleconsultation with women doctors, gynecologists and mental health experts.
- Equitas Small Finance Bank also announced Smriti Mandhana – an Indian Woman cricketer as the new brand ambassador.
BUSINESS & ECONOMY
First solar power-enabled Textile Mill in Asia to come up in Parbhani, Maharashtra
In Maharashtra, the first solar power-enabled Textile Mill in Asia is coming up in Parbhani district. The project, once functional, will provide jobs to many women in the district.
- The Jai Bhawani women’s cooperative textile mill will be the first in Asia that will operate on solar power. Spread across thirty acres of land the mill will process cotton to cloth.
- The cost of the project is 100 crore rupees and with the operationalization of the mill it will certainly give momentum to the industrial sector in the district.
Djokovic ends his sixth year as World No 1, equals Sampras’ record
Tennis star Novak Djokovic has equalled Pete Sampra’s record of winning six year-end number one trophies. The Serbian player achieved the feat as he was given the ATP Tour Number One trophy for finishing as the year-end number one.
- With this, Djokovic has become only the second player in tennis history to do it six times. Before this, Djokovic had finished as world number one in 2011, 2012, 2014, 2015 and 2018.
- Among past players, only Pete Sampras has managed to finish six years on top of the rankings which he did between 1993 and 1998.
FIFA cancels Women’s Under-17 football World Cup; India to host 2022 edition
The Women’s Under-17 football World Cup in India, which was initially postponed to next year due to COVID-19 pandemic, was cancelled by FIFA, but India was handed the hosting rights of the 2022 edition.
- The FIFA cancelled both the women’s U-17 World Cup and U-20 World Cup which were scheduled to be held in India and Costa Rica respectively but handed both the countries the hosting rights of the 2022 editions.
Actor Sonu Sood appointed as state icon of Punjab by Election Commission of India
Acyor Sonu Sood has been appointed as state icon of Punjab by the Election Commission of India (ECI).
- The decision of honouring Sonu Sood with the title comes after he earned laurels for his humanitarian work during the lockdown.
- Sonu has been helping migrant workers reach their hometowns amid the coronavirus pandemic. He also helped people by giving them face masks, food, mobile phones and more.
Martyr Birsa Munda’s birth anniversary will be celebrated as “Tribal Pride Day” in MP
Chief minister Shivraj Singh Chouhan said that Madhya Pradesh was celebrated ‘Tribal Pride Day’ to commemorate the birth anniversary of martyr Birsa Munda, who sacrificed his life fighting against the British during the colonial rule.
- “Tribal Pride Day” celebrated, November 15th at all district headquarters including Bhopal.
- The event which is to be organized under the joint aegis of the Department of Culture and the Tribal Welfare Department, will have special programmes to pay tribute to the tribal heroes and remember their contribution.