Daily Current Affairs 3 November 2020 for Banking/Insurance/SSC and other related exams.
India’s first ‘Tyre Park’ to come up in West Bengal
West Bengal will soon feature “India’s first” ‘Tyre Park‘, where artworks made from scrap and defective parts will be on display.
- The Tyre Park, which will come up at Esplanade area, would have a small cafe where people can sit, relax and enjoy the craftsmanship made from tyres.
- The West Bengal Transport Corporation will launch this Tyre Park.
CJI SA Bobde inaugurated India’s first-ever e-resource center Nyay Kaushal in Nagpur
Chief Justice of India, Sharad Arvind Bobde inaugurated India’s first-ever E-resource centre Nyay Kaushal at Judicial Officers Training Institute in Maharashtra’s Nagpur.
- Nyay Kaushal will facilitate e-filling of cases in Supreme Court, any High court and district courts across the country.
Chhattisgarh CM launches scheme for distribution of fortified rice
Chhattisgarh Chief Minister Bhupesh Baghel launched a scheme for distribution of fortified rice through Public distribution System (PDS) and other welfare initiatives for the people of Kondagaon district of the state on a pilot basis.
- The fortified rice is a mixture of iron, vitamin B-12 and folic acid enriched fortified rice kernel (FRK), which meet the nutritional requirements in the diet and thereby help in controlling malnutrition and anemia. It will be distributed through fair price shops.
- CM also dedicated five newly-built tourist resorts as part of the Tribal Tourism Circuit in different districts.
Telangana CM K. Chandrasekhar Rao inaugurates state’s 1st Rythu Vedika
Telangana Chief Minister K. Chandrasekhar Rao said he was as happy as conquering a kingdom in inaugurating the State’s first Rythu Vedika in Jangaon agriculture cluster.
- The farmers’ centre was built at a cost of ₹22 lakh. Each of the clusters would be managed by an agriculture extension officer, and the centres would soon be equipped with audio-visual system and manned with required staff.
- The state government intends to set up 2,601 Rythu Vedika platforms across Telangana and has set aside a budget of Rs 572.22 crore for the same.
BANKING & FINANCE
Govt provides Rs 670-cr support to Regional Rural Banks to meet regulatory capital
In a bid to strengthen capital base, the union government has provided Rs 670 crore to Regional Rural Banks (RRBs) considering their importance in agriculture finance during these difficult times. This round of infusion would take care of capital needs till March 31, 2021.
- Of the 43 RRBs, about one-third especially from north-eastern and eastern regions are in losses and they needed fund to meet regulatory capital requirement of 9 per cent.
- As per the current scheme for recapitalisation of RRBs, the capital support is provided to these banks by the Centre, concerned state governments and the sponsor banks in the ratio of 50:15:35, respectively to enable them to meet the regulatory requirement of capital to risk weighted assets ratio (CRAR) of 9 per cent.
Govt set to divest 10% in GIC, New India
Government is set to offer 10% shares in the country’s largest non-life insurance company New India Assurance through an offer for sale to the public.
- The Centre may also do a similar dilution in the General Insurance Corporation (GIC Re).
- The government had divested close to 15% stakes in both New India and GIC in 2017. The disinvestment of GIC Re resulted in a mop-up of Rs 11,370 crore and New India’s IPO raised Rs 9,600 crore.
HDFC ERGO implements AI enabled solution to automate motor claim settlements
HDFC ERGO General Insurance, India’s third-largest non-life insurance company in the private sector, announced the launch of the AI tool IDEAS (Intelligent Damage detection Estimation and Assessment Solution) for motor claim settlements.
- The IDEAS module uses Neural Network image processing and Analytics, Machine Learning and Natural Language that supports instant damage detection as well as calculation of the claims estimate for the surveyors to help in motor claims settlement in real-time.
- The IDEAS module, which is trained using more than 3,00,000 images over the last 2 years and is agnostic to vehicle makes and models has been integrated in the surveyor mobile app.
BUSINESS & ECONOMY
MoU signed between SAI and Arunachal Pradesh government
In order to develop the sports infrastructure at the National Centre of Excellence in Itanagar, an MoU was signed between the Sports Authority of India (SAI) and Arunachal Pradesh government.
- According to the MoU, SAI would develop ‘state-of-the-art’ sports facilities including sports infrastructure, training centres and multi-purpose hall.
Lewis Hamilton wins Emilia Romagna Grand Prix
Lewis Hamilton overcame a sluggish start to win the Emilia Romagna Grand Prix for a record-extending 93rd Formula One victory.
- Hamilton beat Mercedes teammate Valtteri Bottas by 5.7 seconds and rushed over to celebrate with the team’s engineers and mechanics after the team clinched another constructors’ title.
Harpreet A De Singh appointed CEO of Alliance Air; becomes first woman to head an Indian air carrier
Harpreet A De Singh, the first woman pilot of Air India, has been appointed as the chief executive officer (CEO) of Alliance Air, a subsidiary of the national carrier. She has become the first woman ever to head an Indian carrier.
- The Captain Nivedita Bhasin, a senior commander flying Boeing 787 Dreamliner, will be new ED (flight safety) and replace Harpreet.
- Harpreet was appointed as the first woman commercial pilot of Indian Airlines in 1988. She, however, had to give up her flying job due to health issues.
Rajiv Jalota (IAS) appointed new Chairperson of Mumbai Port Trust
The central government appointed senior Indian Administrative Service (IAS) official Rajiv Jalota as new Chairperson of Mumbai Port Trust under the Ministry of Shipping for four years.
- The 1988-batch Maharashtra cadre official, Jalota, will succeed incumbent IAS official Sanjay Bhatia, a 1985-batch Maharashtra cadre official.
Writer Paul Zacharia chosen for Ezhuthachan Puraskaram
Writer Paul Zacharia has been selected for the 28th Ezhuthachan Puraskaram, the highest literary honour of the Kerala government.
- Zacharia was chosen for the award for his contributions to Malayalam literature and thought for the past fifty years.
- The award comprises a cash prize of ₹5 lakhs, a citation and a plaque.
CDAC Senior Director Dr Dinesh Katre wins Emmett Leahy Award
Dr Dinesh Katre, Senior Director and Head of Human-Centred Design & Computing Group at the Centre for Development of Advance Computing (CDAC) has won the prestigious 2020 Emmett Leahy Award.
- The Emmett Leahy Award, which was constituted in 1967 in the USA, honours a pioneer in the field of information and records management and recognizes the outstanding contributions that have a major impact on this profession. As the recipient of this award, Dr Katre is now invited to join the Emmett Leahy Award Committee for the next ten years.
BOOKS & AUTHORS
”Till We Win”: Book on COVID-19 by AIIMS director
A new book by AIIMS Director Randeep Guleria and two other doctors will give a definitive account of India’s fight against Covid-19 and how to deal with the pandemic in the days to come, announced publishing house Penguin Random House India
- The book, titled “Till We Win”, has been co-written by leading public policy and health systems expert Chandrakant Lahariya and renowned vaccine researcher and virologist Gagandeep Kang.
“Pandemonium: The Great Indian Banking Tragedy” authored by Tamal Bandyopadhyay released
Tamal Bandyopadhyay has authored a book titled “Pandemonium: The Great Indian Banking Tragedy” and will be released soon.
- This book is a bird’s-eye view of Indian banking and also a fly-on-wall documentary.
International Day to End Impunity for Crimes Against Journalists
The International Day to End Impunity for Crimes against Journalists is a UN-recognized international day observed annually on 2 November.
- This year, the day is celebrated under the theme “Protect Journalists, Protect the Truth”.