Current Affairs

3 December, 2020


Finance Minister Nirmala Sitharaman delivers Keynote address at the Inauguration of 20th Edition of SLES 2020

Union Minister for Finance & Corporate Affairs, Nirmala Sitharamandelivered the Keynote
Address virtually at the inauguration of the 20th Edition of Sri Lanka Economic Summit
(SLES) 2020. It was organized by the Ceylon Chamber of Commerce (CCC).
i.President Gotabaya Rajapaksa was the Chief Guest at the inaugural session.
ii.The Theme for SLES 2020 is ‘Roadmap for Take-off: Driving a People-Centric
Economic Revival’.
iii.During the address, Nirmala Sitharaman highlighted measures taken by India to address
challenges due to the Pandemic. She stated that India’s ‘Aatmanirbhar Bharat Abhiyan’
& Sri Lanka’s vision of ‘Self Reliant Sri Lanka’ can be used as a bridge for strengthening
economic cooperation between the two countries.
iv.The Cooperation between the 2 countries will be essential towards building sustained
growth for people centric development of both countries. India expresses interest to
continue economic cooperation for mutual benefit of both countries.
v.She emphasized regulatory consistency and policy certainty for the growth of Industry &
Private sector.
About Ministry of Finance:
Union Minister – Nirmala Sitharaman
Minister of State – Anurag Singh Thakur
About Sri Lanka:
Prime Minister – Mahinda Rajapaksa
Capital – Sri Jayawardenepura Kotte (legislative), Colombo (Executive and Judicial)
Currency – Sri Lankan Rupee (LKR)

Union Minister Prakash Javadekar represents India at the 2020 Industry Transition Leadership Virtual Summit organized by LeadIT

Union Minister for Environment, Climate Change and Forest Minister, Prakash
Javadekar represented India at the 2020 Industry Transition Leadership
Summit organized by Leadership Group for Industry Transition (LeadIT). The Summit was
held in Virtual Mode due to Pandemic.
The Meeting was held ahead of the 5th Anniversary of the signing of the 2015 Paris
Objective:i.The summit focuses on aligning public and private action for
implementation of the agendas and targets under the Paris Agreement


CERT-In, Kasperksy in Strategic Pact to Improve Mutual Cybersecurity Capabilities

i.A cyber security firm, Kaspersky and the Indian Computer Emergency Response Team
(CERT-In) announced a strategic partnership for improving mutual cybersecurity
capabilities by working together in order to create a safe and secure cyberspace in India.
ii.This was announced on the lines of the Memorandum of Understanding (MoU) signed on
October 22, 2020 by Kaspersky with CERT-In, Ministry of Electronics and Information
Technology (MeitY) and the Government of India (GoI) for collaboration in the area of
iii.Both entities will cooperate in detection of latest cyber threats affecting the information
assets and privacy of the general users and will devise appropriate security measures for
the same.
About Kaspersky:
Chief Executive Officer (CEO)– Eugene Kaspersky
Headquarter– Moscow, Russia

MOP&NG Minister, Dharmendra Pradhan launched India’s 1st 100 Octane Petrol, ‘XP-100’ developed by IOC

Ministry of Petroleum and Natural gas(MOP&NG) Minister Dharmendra Pradhan launched
the India’s first 100 Octane Petrol also known as XP 100 manufactured by Indian Oil
XP 100, the premium grade petrol is manufactured at IOC’s Mathura refinery in Uttar
Pradesh, and will be rolled out in two Phases at selected Petrol stations.
Phase1(10 cities)– Delhi, Gurgaon, Noida, Agra, Jaipur, Chandigarh, Ludhiana, Mumbai,
Pune and Ahmedabad
Phase2– Planned to roll out in Chennai, Bengaluru, Hyderabad, Kochi and Kolkata

10th National Science Film Festival 2020 Organised by VigyanPrasar Virtually

The 10th National Science Film Festival 2020 was jointly organised by VigyanPrasar, an
autonomous agency under the Department of Science and Technology (DST), Government
of India and the Tripura State Council of Science and Technology, Government of
Tripura. The four-day long film festival was held from 24th to 27th November 2020. The
event was inaugurated on 24th November 2020 by JishnuDevVerma, Deputy Chief Minister
of Tripura.


PNB Launched Loan Management Solution, ”PNB LenSThe Lending Solution”

i. Punjab National Bank(PNB) developed and launched ‘PNB LenS-The Lending
Solution’, an IT(Information Technology) based lending solution for loan management.
ii.Aim-To increase the speed and maintain accuracy in online processing of loans and
sanctioning of credit proposals.
iii.PNB launched OTP(One Time Password) based cash withdrawals, effective from 1st
December 2020.The PNB account holders if withdraws Rs 10,000 and above from PNB
ATMs(Automated Teller Machines), at a time between 8 pm and 8 am, will require a OTP.

ADB Approved a $430 Million Multitranche Financing Facility for UP Power Distribution Network Rehabilitation Project

i. The Asian Development Bank (ADB) approved a $430 million (about Rs 4,143 crore)
Multitranche Financing Facility(MFF)for Uttar Pradesh(UP) Power Distribution Network
Rehabilitation Project.
ii.Objective-To improve the quality and reliability of electricity supply in Uttar Pradesh
iii.The MFF is enhanced by a $2 million Technical Assistance (TA) grant from TA Special
Fund and the Japan Fund for Poverty Reduction(JFPR) of ADB
About Asian Development Bank (ADB):
Headquarters– Mandaluyong,Manila, Philippines
President– Masatsugu Asakawa
Membership– 68 countries(Including India)
Formed– 1966


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Union Education Minister Ramesh Pokhriyal constitutes Task Force to impart Technical Education in Mother Tongue

Union Minister of Education, Ramesh Pokhriyal ‘Nishank’ constituted a Task Force for
preparing a blueprint on imparting Technical Education in Mother Tongue. The Task
Force will be headed by Secretary of Higher Education (Amit Khare).
i.The Task Force will submit a report in 1 month based on suggestions made by various
ii.The decision to constitute a Task Force was taken by Union Education Minister, Ramesh
Pokhriyal during a high level meeting on the Implementation of National Education Policy
(NEP) – 2020.
iii.The National Education Policy (NEP) 2020 had mandated that the Medium of instruction
up to Grade 5, which can be extended till Grade 8 will be in Mother Tongue/Regional
About Ministry of Education:
The Ministry of Education was formerly known as the Ministry of Human Resources
Development (MHRD).
Union Minister – Ramesh Pokhriyal ‘Nishank’
Headquarters – New Delhi

RIL Tops 2020 Fortune 500 Ranking List of Indian Companies

i. Fortune India announced the 2020 Fortune 500 Ranking List of Indian companies .
ii.The list is topped by Reliance Industries Ltd(RIL) with revenue of Rs 615,854.00 crore,
accounting for 7% of cumulative revenues and 11% profit of the companies featured. RIL
retains the top rank for the 2nd time.
iii.Indian Oil Corporation Ltd.(IOCL) secured 2nd rank with revenue of Rs 493,932.99 crore
followed by Oil & Natural Gas Corporation with revenue of Rs 405,243.31 crore.
About Reliance Industries Limited (RIL):
Chairman & Managing Director(CMD) – Mukesh Ambani
Headquarters – Mumbai, Maharashtra

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