Daily Current Affairs 7 November 2020 for Banking/Insurance/SSC and other related exams.
Tamil Nadu tops Indian states in new investments in H1FY21: CARE Ratings
Tamil Nadu leads Indian states in attracting investments during the first half of FY21, having managed to grab 16 per cent of the funds that came into India during the period, according to CARE Ratings.
- Andhra Pradesh garnered 11 per cent, Maharashtra, Rajasthan and Karnataka have garnered seven per cent each, while the balance went to the other states.
- Tamil Nadu topped fresh investments in the first quarter, according to Projects Today’s latest report on investment announcements in the July to September quarter. Karnataka was third in the list, followed by Gujarat and Maharashtra.
- The CARE Ratings reports said all-India investments for new projects have been falling the past five years during April–September, save for H1FY19, when they rose 29% YoY to Rs 7.7 trillion from Rs 6 trillion in H1FY18.
- New projects announced for H1FY21 fell sharply by 69 per cent to Rs 1.5 trillion compared with Rs 4.8 trillion last year. This sharp fall was owing to the lack of economic activity due to the pandemic induced lockdown announced nationally in the last week of March 2020.
30 Indian cities likely to face acute water risks by 2050: WWF
About 30 Indian cities will face increasing “water risks” in the next few decades according to a new report released by World Wide Fund for Nature (WWF).
- According to the scenarios in the WWF Water Risk Filter report, nearly 30 Indian cities, including Jaipur, Indore, Amritsar, Pune, Srinagar, Kolkata, Bengaluru, Mumbai, Kozhikode and Visakhapatnam will face acute “water risks.”
- Globally, the report estimates that “hundreds of millions of people in cities across the globe could face dramatically increased water risks.” 100 cities will witness a massive rise in water risks by 2050.
- The list also includes cities such as Beijing, Jakarta, Johannesburg, Istanbul, Hong Kong, Mecca and Rio de Janeiro.
BANKING & FINANCE
Govt extends emergency credit line guarantee scheme till November 30
The National Democratic Alliance (NDA) government announced extending the time window for businesses to seek sovereign-guaranteed loans under the Emergency Credit Line Guarantee Scheme (ECLGS) by one month till November 30 or “or till such time that an amount of Rs 3 trillion is sanctioned under the Scheme, whichever is earlier.
- The scheme, in place since May 23, had a deadline of October 31.
- Under the scheme, 100 per cent guarantee coverage is being provided by the National Credit Guarantee Trustee Company for additional funding to the tune of Rs 3 trillion to borrowers.
HDFC Bank voted No 1 in Indian Financial Sector: Asiamoney
HDFC Bank Ltd has been voted ‘Most Outstanding Company – Financial Sector’ in India, in a poll conducted by the well-known publication Asiamoney. HDFC Bank has bagged this honour for the 2nd consecutive year.
- Over 824 fund managers, buy-side analysts, bankers and research analysts voted across 12 markets in Asia.
- Known as Asia’s Outstanding Companies Poll, it aims to identify and recognise listed companies in 2 categories: by country and by sector.
Aegon Life Insurance announced the launch of ‘Life + 36 critical illness Insurance’ on Flipkart
Aegon Life Insurance, the pioneer of digital insurance in India, announced the launch of ‘Life + 36 critical illness Insurance’ on Flipkart at the starting premium of just Rs. 153 for a life cover of Rs 1 lakh plus Critical Illness cover of Rs.10,000.
- This means that the policy holder gets the benefit of life protection along with a lumpsum pay-out on diagnosis of any of the 36 critical illnesses.
- Aegon Life’s “Life+ 36 Critical illness Insurance” ensures that the policyholder gets covered against most of the lifestyle diseases along with a life cover to ease the financial burden.
Bank of Baroda launches employee-assistance programme
Bank of Baroda (BOB) has introduced Employee Assistance Program, a new employee Central initiative to help employees to deal with personal and professional issues in psychological consulting and counselling.
- Bank of Baroda has introduced this as a pilot project in Mumbai zone and its corporate offices. This initiative uses multiple channels of assistant and technology in addition to personal counselling in association with EAP India.
- The counselling service is offered in collaboration with specialists. This 24×7 service is “safe, non-judgmental, and highly confidential” and can be availed not only by the employees but their family members too.
BUSINESS & ECONOMY
Amazon India launches first all-women virtual customer service in Bengaluru
Building on its diversity, equity and inclusivity efforts, Amazon India announced the launch of its first all-women Virtual Customer Service (VCS) site in Bengaluru with 60 women.
- Through this all-women VCS site, the company has extended flexible career opportunities for women across the city, empowering them to pursue their careers from their homes.
- This site will enable Amazon India to reach out to a broader talent pool of women who prefer to work from home, as it seeks to bring greater diversity across its teams.
Tamil Nadu, HCL to set up disaster management analytics centre
Tamil Nadu government and HCL will set up a Disaster Management – Data Analytics Centre to strengthen the State’s disaster management efforts in the face of the Covid-19 pandemic.
- The Disaster Management Centre of the Tamil Nadu government (in Chepauk, Chennai) is responsible for the overall management of disasters across the entire state.
- The Disaster Management-Data Analytics Centre will help capture data trends from across all districts of Tamil Nadu in real time and display them live to inform the government’s future decisions on degree of response needed for each district and, also for graded relaxation of the current lockdown to resume economic activities.
Andrey Rublev wins fifth ATP title of season at Erste Bank Open
Andrey Rublev won his fifth ATP title of the season, beating unheralded Lorenzo Sonego 6-4, 6-4 at the Erste Bank Open.
- The eight-ranked Russian has won three of his last four tournaments, improving to 7-2 in career finals, and win earned him a berth for the season-ending ATP Finals in London.
- Rublev became the first player in this shortened season with five titles, one more than Novak Djokovic. No other player has won more than two tournaments.
Tanzania’s president Magufuli sworn in for second term
Tanzania inaugurated John Magufuli as president for a second five-year term following a disputed election that the opposition denounced as fraudulent.
- Magufuli won 84% of the total votes in elections held on October 28. He was elected as the fifth President of Tanzania and is in office since 2015.
- CHADEMA party candidate Tundu Lissu took the second position.
HDFC Bank Appoints Ramesh Lakshminarayanan as its New CIO
Largest private sector lender HDFC Bank said it has hired Ramesh Lakshminarayanan as its next chief information officer (CIO).
- The appointment comes nearly four months after the resignation of its the then CIO Munish Mittal to pursue higher education in the UK after spending over 25 years at the bank.
Vodafone Idea appoints Jagbir Singh as CTO
Vodafone Idea Ltd(VIL), the telecom operator providing services under the brand ‘Vi’, has appointed Jagbir Singh as Chief Technology Officer (CTO).
- He will be replacing Vishant Vora, who quit in October citing personal reasons.
- Previously, Jagbir was Group CTO at Smartfren Telecom, Indonesia, and is responsible for network, IT and digital platforms and enterprise business.
Filmmaker Hariharan bags the prestigious JC Daniel Award
Ace filmmaker Hariharan has bagged the prestigious JC Daniel Award for 2019.
- Hariharan was bestowed with the award for his contribution to Malayalam cinema during the past five decades.
- The award is presented by Kerala Government annually for ‘outstanding contribution to Malayalam cinema’.The award comprises a purse of Rs 5 lakh, a citation, and a plaque.
Karsh Kale, Salvage Audio Collective win best music for ‘Gully Boy’ at Asian Film Awards
Filmmaker Zoya Akhtar’s drama “Gully Boy” has bagged the best original music award for musician Karsh Kale and the Salvage Audio Collective at the 14th Annual Asian Film Awards.
- “Gully Boy” featured Ranveer Singh as an up-and-coming rapper who sets out to achieve his dream by rhyming about his life on the Mumbai streets.
- Its music, supervised by composer-singer Ankur Teawari, turned out to be a chartbuster with the track “Apna Time Aayega” becoming an anthem.
Naravane Conferred Honorary Rank of General of Nepali Army by President Bhandari
Indian Army chief General M M Naravane was conferred the honorary rank of General of the Nepali Army by President Bidya Devi Bhandari at a special ceremony, a decades old tradition that reflects the strong ties between the two militaries.
- He was also presented a sword and scroll during the function held at the President’s official residence ‘ShitalNiwas’ in Kathmandu.
SCIENCE & TECHNOLOGY
IIT-Bombay launches self-help website ‘Bandhu’ for students
With the pandemic adding to the stress of students, IIT Bombay launched a selfhelp website to assist them through the tough time and enhance their emotional wellbeing.
- The website – ‘Bandhu’ (a friend in need), iitb-bandhu.com – is an initiative of IIT Bombay’s batch of 1992.
- The website addresses several issues such as procrastination, exam stress, the fear of failure, hostel life, discrimination, peer pressure, Internet addiction and a range of mental health issues. It also discusses a few techniques for relaxation and dealing with certain stressors.
Tamil Nadu fisherman starts India’s first and only radio channel for fisherfolk
A fisherman from the Ramanathapuram district’s Pamban town has started ‘Kadal Osai FM 90.4’, India’s first and only radio channel for fisherfolk.
- It offers infotainment to listeners – from information on marine and COVID-19 to folk songs sung by fishermen/women and film songs.
National Stress Awareness Day
National Stress Awareness Day, marked on the first Wednesday in November, aims to identify and reduce stress factors in our lives. This year, it falls on November 4.
- The objective of the day is to raise awareness, publicity and profile of stress and its impact, and reduce stigma while promoting the importance of well-being and stress reduction for individuals and organizations.
International Stress Awareness Week
International Stress Awareness Week takes place from 2 – 6 November 2020 to highlights stress management, mental health, and wellbeing.
- International Stress Awareness Week 2020 will provide a platform for stress and mental health problems to be highlighted and for insights from around the world to be illuminated.
Schools to celebrate November 8 to 14 as Children’s week
Ahead of Children’s Day on November 14, the Maharashtra state education department has asked schools in the state to celebrate Children’s week between November 8 and 14.
- As part of the initiative, schools have to conduct activities and upload photographs of celebrations conducted online. During the week, various competitions such as essay writing, elocution and video making will be organised for students by the schools.
- The education department has also announced prizes in each category for students between Classes 1 and 12.