Daily Current Affairs 20 August 2020 for Banking/Insurance/SSC and other related exams.
Cabinet Approves Setting Up Of National Recruitment Agency
The Union Cabinet approved setting up of a National Recruitment Agency (NRA) to carry out a national entrance exam for non-gazetted vacancies in both central government departments, and public sector banks.
- The agency will conduct a single entrance exam for tens of thousands of positions that the government advertises every year.
- The current recruitment model comprises several exams by different recruitment agencies including some by Union Public Service Commission (UPSC). The UPSC, however, will continue to deal with top administrative exams, including the coveted the civil services exams.
PM SVANidhi scheme: Hardeep Singh Puri launches mobile app to process loan applications of street vendors
The Union Minister Hardeep Singh Puri launched a mobile app for urban local bodies to source loan applications from street vendors under the PM SVANidhi scheme.
- Under the PM SVANidhi scheme, street vendors can avail a working capital loan of up to Rs 10,000 which is repayable in monthly installments in the tenure of one year.
- This app aims to provide user friendly digital interface for the functionaries of urban local bodies (ULBs) to source loan applications of street vendors.
‘Dhanwantari Rath’ to bring ayurveda at doorsteps of Delhi Police families
A MoU was signed between the All India Institute of Ayurveda (AIIA) and the Delhi Police for extending ayurvedic mode of preventive and promotive health services in the residential colonies of the force.
- Supported by the AYUSH ministry, these services will be provided by AIIA through a mobile unit named ‘Dhanwantari Rath’ and Police Wellness Centres.
- AYURAKSHA is a joint venture of AIIA & Delhi Police for maintaining the health of Delhi Police personnel who serve as frontline warriors during COVID-19 through Ayurveda immunity boosting measures.Under the programme, a AYURAKSHA kit are distributed to the Delhi Police.
MP emerges as leading state in implementation of Pradhan Mantri Street Vendors Atma-Nirbhar Scheme
Madhya Pradesh has emerged as the leading state in the implementation of Pradhan Mantri Street Vendors Atma-Nirbhar Scheme-PM Swa-Nidhi. PM Swa-Nidhi is a Central Sector Scheme to facilitate street vendors to access affordable working capital loan for resuming their livelihoods activities.
- Interest free loan of Rs 10 thousand has been sanctioned so far to 58 thousand 476 street vendors in Madhya Pradesh. This is more than 47 percent of the total sanctioned cases of the country.
Indore Gets India’s ‘Cleanest City’ tag fourth time in a row, Surat Comes Second Followed by Navi Mumbai
Indore was adjudged India’s cleanest city for the fourth straight year in the central government’s cleanliness survey. The second and third positions went to Surat in Gujarat and Maharashtra’s Navi Mumbai respectively.
- The Swachh Survekshan awards 2020 were announced by Union Housing and Urban Affairs Minister Hardeep Singh Puri at a ceremony.
- As many as 20 MP cities earned a place in the top 50 list of cleanest cities in India. MP has also become the third cleanest state in the country, according to the survey.
- State capital Bhopal ended up as the seventh cleanest city in the list and the cleanest capital in India
Tech Mahindra launches Upskilling-as-a-service platform
Tech Mahindra has announced that it was launched a new ‘Upskilling-as-a-Service’ (UaaS) platform to accelerate new-age skill development. The aim of this platform is to create a ‘fit for future’ workforce of its 60,000 employees globally.
- The UaaS platform will leverage AI to provide personalised, interactive, on-demand and contextual training to employees.
Google launches ‘Kormo’ app in India for entry-level job seekers
Tech giant Google said that it ha launched its employment android application Kormo Jobs – to India as it is looking forward for helping job seekers to apply for entry-level jobs.
- Google had introduced ‘Jobs’ last year in India as part of Google Pay to connect job seekers under the brand Jobs.
- The company first launched Kormo Jobs in Bangladesh in 2018 and expanded it to Indonesia last year. Also last year, Google made Kormo available in India under the brand Jobs as a Spot on Google Pay app.
41 lakh young Indians lost jobs due to COVID-19 crisis: ILO-ADB Report
As many as 41 lakh youth in the country lost jobs due to the COVID-19 pandemic while construction and farm sector workers account for the majority of job losses, according to a joint report by the International Labour Organization (ILO) and the Asian Development Bank (ADB).
- The report titled “Tackling COVID-19 Youth employment crisis in Asia and Pacific”, for India estimates job loss for 4.1 million youth. Construction and agriculture have witnessed the major job losses among seven key sectors in India
- In 13 countries of the Asia and Pacific region, around 1-1.5 crores of youths might lose their jobs. Pakistan is to lead in youth losing jobs followed by India in the Asia and Pacific regions.
- The unemployment rate in India is to increase to 32.5%. However, of all the countries in the region, Sri Lanka is to face the maximum unemployment at the rate of 37.8%
BANKING & FINANCE
Fino Payments Bank launches Aadhaar authentication based digital savings account
Fino Payments Bank announced the launch of an Aadhaar authentication based digital savings account Jan BachatKhata (JBK), that it said would bring neo-banking experience to consumers.
- The Jan Bachat Khata (JBK) is available to everyone who is comfortable with Aadhaar authentication based banking on fingertips.
- A nominal annual subscription fee customers can also get a zero balance account with no MAB requirement, no debit card, ATM and SMS charges and full rights to access BPay mobile banking app.
Lakshmi Vilas Bank launches Lakshmi DigiGo instant savings account opening facility
Lakshmi Vilas Bank (LVB), one of Tamil Nadu’s oldest private banks, has launched Lakshmi DigiGo, a digital initiative to enable opening of savings account instantly.
- Lakshmi DigiGo is a savings account with select features, including internet and mobile Banking.
- This initiative will help people to avail the most required banking services instantly through the website.
YES Bank rolls instant digital disbursement for loan against securities
YES Bank has launched a unique digital solution called ‘Loan against Securities’ under the bank’s loan in seconds platform that enables online lien marking of mutual funds and avail quick and hassle-free loan.
- The new digital solution allows instant disbursements of loans with no documentation. Customers can avail loan of up to Rs 1 crore against debt mutual funds and can set an instant credit limit against the securities held.
- An interest is charged only for the loan amount which is utilized for the number of days of utilization.
ADB approves USD 1 billion package for rapid transit system in India
The Asian Development Bank (ADB) has approved a USD 1 billion (about ₹7,485 crore) loan to support the construction of the modern, high-speed Delhi-Meerut regional rapid transit system, a first of its kind in India.
- The transit system project aims to help decongest the city and improve regional connectivity by establishing transit options through densely populated sections of the NCR connecting Delhi to Meerut in Uttar Pradesh.
BUSINESS & ECONOMY
Edelweiss Tokio Life partners with Element AI for AI transformation journey
Edelweiss Tokio Life Insurance has partnered with Element AI, a global developer of artificial intelligence-powered (AI) solutions and products, to develop a strategic AI roadmap for the new-age insurer and prioritise investments.
- The Element AI Advisory and Enablement team will work closely with Edelweiss Tokio Life to create an actionable roadmap for strategic AI deployment for the company, which will ultimately support a detailed AI transformation plan.
- This work will utilize unique learnings and insights from Element AI to establish technical feasibility and identify AI use cases.
India’s GDP to Contract by 20% in First Quarter of FY21, Says Care Ratings
India’s GDP is likely to contract by 20 per cent during the first quarter of the current fiscal on account of the COVID-19 pandemic-induced disruptions, Care Ratings said.
The Central Statistics Office (CSO) will release the gross domestic product (GDP) data for the first quarter of FY21 on August 31, which is expected to statistically mirror the adverse impact of the pandemic led lockdown on economic growth.
Cricketer Rohit Sharma appointed Oakley’s brand ambassador in India
Performance sports eyewear brand Oakley announced the appointment of cricketer Rohit Sharma as its new brand ambassador for a period of two years in India.
- As a part of the partnership, Sharma will be sporting Oakley eyewear equipped with patented Prizm technology created specifically for sports lenses.
AIFF signs MoU with IPSO to conduct online scouting workshops in India
All India Football Federation (AIFF) has signed a two-year Memorandum of Understanding (MoU) with the International Professional Scouting Organisation (IPSO) to deliver a number of courses and webinars with regards to scouting in India.
- The first of these online workshops are set to take place from September 7 to 11, which will include a two-hour session each of the four days starting at 7 pm IST every day.
Luis Rodolfo Abinader sworn in as Dominican Republic president
Luis Rodolfo Abinader has been sworn in as president of the Dominican Republic following his election win last month.
- The 53-year-old businessman, who had never held elected office, won a four-year term on July 5, ending a 16-year run in power by a centre-left party.
- He had finished second in the 2016 presidential election.
British Tennis legend Angela Buxton passes away
Former British tennis player, two-time Grand Slam doubles champion and equal rights pioneer Angela Buxton has passed away. She was 85. Buxton won the women’s doubles alongside Althea Gibson. at both Roland Garros and Wimbledon in 1956.
- Buxton also reached the singles final at Wimbledon 1956 but lost to American Shirley Fry.
Ex-India Goalkeeper Bhaskar Maity passes away
Former India goalkeeper Bhaskar Maity passed away at a Navi Mumbai hospital due to brain hemorrhage. He was 67.
- Maity represented India against Iraq during the 1978 Asian Games at Bangkok. He played for Maharashtra from 1975-1979 in the Santosh Trophy.
- He also played for Mafatlal Sports Club from 1974-80 and the Rashtriya Chemicals and Fertilisers from 1981-82.
Indian Akshay Urja Day 2020
Indian Akshay Urja Day 2020 or Renewable Energy Day is observed on 20th August to increase awareness about the importance of renewable energy among the people.
- Indian Akshay Urja Day was established in 2004 to support renewable energy development programs and promote its use instead of traditional sources of energy.