Daily Current Affairs 5 December 2020 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Govt Forms Task Force to Impart Technical Education in Mother Tongue
In an effort to bring major changes in technical education, the Ministry of Education under the leadership of Union Education Minister Ramesh Pokhriyal ‘Nishank’ has set up a task force for preparing a roadmap on imparting technical education in Mother Tongue.
- As per updates, the task force set up under the chairmanship of Amit Khare, Secretary of Higher Education Department, will take into consideration the suggestions made by various stakeholders and will submit a report in a month.
Meghalaya CM Unveils State Disability Logo, Launches Meghalaya Sign Bank App
In Meghalaya, the International Day of Persons with Disabilities was observed with a formal function held at Yojna Bhawan Auditorium, Shillong. The theme this year is building back better towards a disability inclusive, accessible and sustainable post-Covid 19 world.
- During the function the Chief Minister Conrad K. Sangma,unveiled the State Disability Logo. The second edition of the Meghalaya Sign Bank App was also launched by the Chief Minister. The app is available for both ios and android users.
- Two students with disabilities were also felicitated for their outstanding achievements by Chief Guest Sangma and Social Welfare Minister Kyrmen Shylla.
INTERNATIONAL NEWS
Britain becomes first country in world to approve coronavirus vaccine
In a historic move, Britain has become the first country in the world to approve the Pfizer-BioNTech coronavirus vaccine.
- The vaccine will be rolled out from next week onwards. Priority for vaccination will be given to healthcare workers and care home residents.
PASSEX conducted by Indian Navy and Russian Navy
The Indian Navy (IN) is undertaking a Passage Exercise (PASSEX) with Russian Federation Navy (RuFN) in the Eastern Indian Ocean Region (IOR) from 4 to 5 December 2020.
- The exercise is aimed at enhancing interoperability, improving understanding and imbibing best practices between both the friendly navies, and would involve advanced surface and anti-submarine warfare exercises, weapon firings, seamanship exercises and helicopter operations.
- PASSEXs are conducted regularly by IN with units of friendly foreign navies, whilst visiting each other’s ports or during a rendezvous at sea.
BANKING & FINANCE
Razorpay partners with PayPal to facilitate global transactions for small businesses, freelancers
Financial solutions provider Razorpay said it has partnered with global digital payments platform PayPal to facilitate international payments for small businesses and freelancers.
- The company’s partner businesses can now integrate with PayPal and accept payments from international customers from across 200 markets in a convenient, fast and secure manner.
IFSCA gets membership of International Association of Insurance Supervisors
Gujarat International Finance Tec (GIFT) City regulator International Financial Services Centres Authority (IFSCA) has obtained membership of the International Association of Insurance Supervisors (IAIS).
- With this membership IFSCA would have access to IAIS’s global network and would be able to exchange ideas and information with other global regulators.
- This would help in developing a vibrant global insurance hub in IFSC at GIFT City.
Finin launches as neobank in India in partnership with SBM
Finin, a fintech company, has launched itself as a ‘neobank’, in partnership with SBM Bank, a wholly-owned subsidiary of State Bank of Mauritius in India, focussing on saving rather than lending.
- It will provide features such as detailed break-up of user spending and send prompts if they exceed pre-set limits and automatic sweeps of money into liquid funds.
- The bank will target white-collar workers and freelancers and has waiting list of 15,000 people before launch. It aims to open 50,000 accounts in six months.
HDFC Life stands with Dabbawalas of Mumbai with ‘PromiseWalaDabba’ Campaign
In support of Mumbai’s Dabbawalas, HDFC Life in association with Ketto India has initiated #PromisewalaDabba, a nationwide crowdfunding campaign.
- #PromiseWalaDabba has been initiated by the insurance company for supporting the community, with an aim to help the Dabbawalas of Mumbai stand on their feet once again with a month’s supply of ration, delivered to their homes.
- Ketto, India’s foremost crowdfunding platform has also partnered with HDFC Life as part of the campaign in order to serve as a platform to raise money for this cause.
RTGS To be Made 24X7 from December 14, New Limit for Contactless Card Transactions Now Rs 5,000: RBI
In a bid to give a push to digital payments, the Reserve Bank announced a slew of measures including enhancing the limit for contactless card transactions to Rs 5,000 from Rs 2,000 and making RTGS transaction facility available round the clock from December 14.
- The RBI has also decided to grant licence to entities operating payments systems on a perpetual basis, and permitted companies to reapply for licence after one year of rejection of their application or revocation of their licence.
RBI Projects 6.8% Retail Inflation in December Quarter
The Reserve Bank of India said retail inflation is likely to remain elevated and pegged it at 6.8 per cent for the third quarter of the current fiscal.
- RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) is of the view that inflation is likely to remain elevated, barring transient relief in the winter months from prices of perishables
Rupifi joins hands with Axis Bank, Visa to launch credit card for Small Businesses
Private sector lender Axis Bank has partnered with fintech lending platform Rupifi to offer a business credit card powered by Visa.
- The card will be offered to micro, small and medium enterprises (MSMEs) to transact on aggregator platforms for their business purchases.
- The average credit limit offered will be in the range of Rs 1 and 2 lakh per month and will be decided based on business data of the MSME’s transactions with the aggregator platforms, GMV (Gross Monthly Volume) of last six months and overall revenue among other factors.
BUSINESS & ECONOMY
India Economy Likely to Contract by 10% in FY21, Says Former Planning Commission Member Abhijit Sen
India’s economy is likely to contract by around 10 per cent in the current fiscal, eminent economist and former Planning Commission member Abhijit Sen said.
- Sen, also an expert on issues related to agriculture, further said that the government would not be able to double farmers’ income by 2022.
APPOINTMENTS
Dronacharya Awardee Kuldeep Handoo appointed PM’s ‘Fit India’ Movement Ambassador
First Dronacharya Awardee from the Union Territory of Jammu and Kashmir, Kuldeep Handoo has been appointed Prime Minister Narendra Modi’s ‘Fit India’ Ambassador.
- Mr Handoo, who is Wushu Coach of Team India is serving as Inspector in Jammu and Kashmir Police Department.
AWARDS
15-yr-old Indian-American Gitanjali Rao named first ‘TIME Kid of the Year’
Gitanjali Rao, a 15-year-old Indian-American scientist and inventor has been named Time Magazine’s first-ever Kid of the Year.
- The US-based publication announced the award and selected Rao from a field of more than 5,000 nominees. It cited her ability to use technology to tackle “issues ranging from contaminated drinking water to opioid addiction and cyberbullying”.
- This is not the first time Rao has earned plaudits for her work. Earlier in 2019, she was on the Forbes’ 30 under 30 list.
Adar Poonawalla of Serum Institute Among 6 Named ‘Asians of the Year’ by Singapore Daily
Adar Poonawalla, the chief executive of the world’s largest vaccine manufacturer Serum Institute of India, is among six people named ”Asians of the Year” by Singapore’s leading daily, The Straits Times for their work in fighting the COVID-19 pandemic.
- The other five named in the list are Chinese researcher Zhang Yongzhen, who led the team that mapped and published online the first complete genome of Sars-CoV-2, the virus that sparked the pandemic, China’s Major-General Chen Wei, Japan’s Dr Ryuichi Morishita and Singapore’s Professor Ooi Eng Eong, who are among those at the forefront of developing vaccines against the virus, and South Korean businessman Seo Jung-jin whose company will enable the making and dispensing of the vaccines and other Covid-19 treatments to the world.
SCIENCE & TECHNOLOGY
Pixxel Partners With NSIL to Launch India’s First Private Remote-Sensing Satellite
Space start-up Pixxel has signed an agreement with state-run NewSpace India Limited (NSIL) to launch the country’s first private remote-sensing satellite on an ISRO PSLV rocket in early 2021.
- The agreement is one of its kind after the establishment of IN-SPACe, the authorisation and regulatory body under the Department of Space for enabling private players to undertake space activities in India.
- The company has also signed an agreement with in-space satellite transportation and infrastructure company Momentus for launching its second satellite in 2021, with an option to fly again in 2022.
OBITUARIES
Lakshadweep Administrator Dineshwar Sharma passes away
Lakshwadweep’s Administrator and former Intelligence Bureau chief Dineshwar Sharma passed away at a Chennai hospital due to lung-related complications. He was 66.
- Mr. Sharma, a 1979-batch Indian Police Service (IPS) officer, hailed from Bihar. He served as IB Director from 2014 to 2016. He headed the bureau when the government announced demonetisation on November 8, 2016.
- In 2017, he was appointed as the union government’s representative for peace talks with various groups in North Eastern states on May 30, 2017.Then he was appointed as the Administrator of the Union Territory of Lakshadweep in October 2019.
- He was awarded the prestigious Indian Police Medal for the meritorious service in 1997, followed by the President’s Police Medal for Distinguished Service in 2003.
BOOKS & AUTHORS
Venkaiah releases book on former Prez Dr APJ Abdul Kalam
Vice President M Venkaiah Naidu released the book ’40-Years with Abdul Kalam- Untold Stories’ authored by Dr Sivathanu Pillai, former chief of BrahMos Aerospace at a virtual function organised in Chennai.
- The Vice President Shri M Venkaiah Naidu called upon youngsters to draw inspiration from former President Dr APJ Abdul Kalam and work towards building a strong, self-reliant and inclusive India.
- He said that like Dr Kalam, the youth should think out of the box and use technology for providing solutions to the various economic and societal challenges that impact large sections of India’s population.
IMPORTANT DAYS
World Soil Day
World Soil Day (WSD) is held annually on 5 December as a means to focus attention on the importance of healthy soil and to advocate for the sustainable management of soil resources.
- The theme of World Soil day 2020, “Keep soil alive, protect soil biodiversity”.