Current Affairs

4 November, 2020

International

BRICS Business Forum held virtually from October 20-28, 2020

The BRICS (Brazil, Russia, India, China & Republic of South Africa) Business Forum was
held virtually from October 20-28, 2020. The meeting is being held online for the first
time due to Pandemic (originally planned to be held in Moscow(Russia), at St. Petersburg
(Russia)). The BRICS Business Forum is the key annual event of the BRICS Business
Council.The meeting was chaired by the Head of Russian Chapter of BRICS Business
Council, President of Chamber of Commerce and Industry of Russian Federation, Sergey
Katyrin from Moscow.
About BRICS:
Members– Brazil, Russia, India, China and South Africa.
Chairmanship (2020)– Russia (India will assume the Chairmanship of BRICS in 2021)

30 Indian cities Will Face ‘Water Risk’ by 2050; Jaipur tops: WWF report

In accordance with the World Wide Fund (WWF)Water Risk Filter, an online tool, codeveloped by the WWF for Nature and Germany’s Deutsche Investitions- und
Entwicklungsgesellschaft (KFW DEG), nearly a third of the 100 cities in the world
susceptible to “water risk” are in India means 30 Indian cities are expected to suffer
increased water risks by 2050.
About WWF Water Risk Filter:
Launched– 2012
Led by– Alexis Morgan
Headquarter– Berlin, Germany
About World Wide Fund (WWF):
President & Chief Executive Officer (CEO)– Carter Roberts
Headquarter– Gland, Switzerland

National

Indian Naval Ship ‘Airavat’ reaches Port Sudan with Food Aid as Part of ‘Mission Sagar-II’

Indian Naval Ship (INS) Airavat entered Port Sudan with 100 Tonnes of Food aid as
part of Mission Sagar-II. Under Mission ‘SAGAR’ Indian government is providing
assistance to Friendly Foreign Countries to overcome natural calamities and COVID-19
pandemic. The mission is being done in close coordination with the Ministry of
Defence and Ministry of External Affairs and other agencies of Indian Government.

Government Extends Emergency Credit Line Guarantee Scheme by One Month to November 30, 2020

Government of India extended Emergency Credit Line Guarantee Scheme (ECLGS) by
one month (i.e.) 30th of November or till an amount of INR Three Lakh Crore (Target
Credit of ECLGS) is sanctioned under the scheme, whichever is earlier. The previous
Deadline was October 31, 2020.The extension will provide an opportunity for borrowers who
have not availed the scheme so far, to obtain credit under the scheme.
Emergency Credit Line Guarantee Scheme (ECLGS)
Target Credit INR 3 Lakh Crore
Beneficiaries MSMEs, Business
Enterprises, individual
loans for business
purposes and MUDRA
borrowers, Individual
beneficiaries
(Borrowers with credit
outstanding upto INR 50
crore as on 29.2.2020 with
an annual turnover of upto
INR 250 crore are eligible )
Interest Rate 9.25 % – Banks and
Financial Institutions
14 % – Non-Banking
Financial Companies
(NBFCs)
Tenure of
Loans
4 years (includes
moratorium of one year on
principle repayment)
Corpus of
Scheme
INR 41, 600 Crores by
Government for the current
and the next three financial
years .
About Ministry of Finance:
Union Minister – Nirmala Sitharaman
Minister of State (MoS) – Anurag Singh Thakur

IREDA signs MoU with MNRE; sets Revenue target of INR 2406 Crores in the FY 2020-21

Indian Renewable Energy Development Agency Limited (IREDA) signed a Memorandum of
Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE),
Government of India setting key targets for the year 2020-21. IREDA has set a Revenue
Target of INR 2406 Crores for the current Financial Year 2020-21.
The MoU was signed by MNRE Secretary, Indu Shekhar Chaturvedi and IREDA CMD,
Pradip Kumar Das.
About Indian Renewable Energy Development Agency Limited (IREDA):
Chairman & Managing Director (CMD) – Pradip Kumar Das
Headquarters – New Delhi
About Ministry of New and Renewable Energy (MNRE):
Ministry of State (MoS), Independent Charge (IC)– Raj Kumar Singh
Headquarters – New Delhi

India’s First Solar-Powered Miniature Train Launched at Veli Tourist Village, Kerala by CM Pinarayi Vijayan

India’s first solar energy-driven miniature train was virtually inaugurated at the Veli Tourist
Village in Kerala by state’s Chief Minister (CM) Pinarayi Vijayan. Developed with an outlay
of Rs 10 crore, this train is a part of Rs 60 crore projects undertaken to make facilities of the
Veli tourist village to international standards.
About Kerala:
Governor– Arif Mohammad Khan
National Parks- Eravikulam National Park, Silent Valley National Park, Pampadum Shola
National Park, Mathikettan Shola National Park, and Anamudi Shola National Park.

Economy

SBI Becomes 1st Corporate Partner of edX from India to Offer Massive Open Online Courses

In a bid to develop skill sets of career-oriented individuals, SBI(State Bank of India) has
entered into a strategic partnershipwith edX, a global non-profit education platform to
expand the learners’ perspectives and access to knowledge beyond the classrooms. As
part of this partnership, SBI will offer its Massive Open Online Courses (MOOCs) on the
edX platform(edx.org.) from November 2020.

HDFC ERGO General Insurance Implemented AI Enabled Tool, IDEAS to Automate Motor Claim Settlements

In order to automate the complex process of motor claims, on November 2, 2020, HDFC
ERGO General Insurance launched the AI (Artificial Intelligence) 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.
About HDFC ERGO:
Managing Director (MD) and Chief Executive Officer (CEO)– Ritesh Kumar
Chairman– Deepak S. Parekh
Headquarters– Mumbai, Maharashtra
Chatbot– DIA

Sports

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Miscellaneous

Australian Cricketer Shane Watson announces Retirement from All Forms of Cricket

Former Australian All Rounder Shane Robert Watson announced
retirement from all forms of Cricket at the age of 39. He had already announced
retirement from International Cricket in 2015 but was playing Franchise-based Cricket
tournaments such as Indian Premier League (IPL), Pakistan Super League (PSL).
Indian Premier League:
i.Shane Watson scored 3874 runs and picked up 92 wickets in 145 IPL matches.
ii.He won the Player of the Series Award in IPL for two times in 2008 & 2013.
Allan Border Medals:
He was awarded the Allan Border Medal in 2010 and 2011. He is only the second player
(after Ricky Ponting) to win back-to-back Allan Border Medals.

Duarte Pacheco, MP of Portugal elected as the 30th President of IPU;succeeds Gabriela Cuevas Barron

Duarte Pacheco, Portugal Parliamentarian was elected as the 30th President of Inter
Parliamentary Union (IPU) for a three-year term of2020-2023. He succeeds Gabriela
Cuevas Barron, a Mexican Parliamentarian.The Presidential Election was conducted over
the virtual platform during the 206th Session of the Governing Council of IPU, which was
conducted as a virtual session.
About Inter Parliamentary Union (IPU):
President– Duarte Pacheco
Members– 179 national Member Parliaments and 13 regional parliamentary bodies
Headquarters– Geneva, Switzerland

Karsh Kale & Salvage Audio Collective Won Best Music Award for “Gully Boy” at 14th Asian Film Awards

The Asian Film Awards Academy (AFAA) announced the winners of the 14th Asian Film
Awards (AFA14) held at Busan, South Korea. Karsh Kale and the Salvage
AudioCollective won the Best Original Music Award 2020 for the film Gully Boy directed
by Zoya Akhtar.Yang Ik-Joon, South Korean Actor and Director presented the Award to
Kale and The Salvage Audio Collective.
About Asian Film Awards Academy(AFAA):
Asian Film Awards Academy, a nonprofit organisation created jointly by the three main
Asian Film Festivals, Busan, Hong Kong and Tokyo.
AFA Academy has been presenting awards since 2015.
Chairman– Dr. Wilfred Wong

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