Current Affairs

14 September, 2020


MoS for External Affairs, V Muraleedharan, Participates in 27th ASEAN Regional Forum

Minister of State (MoS) for External Affairs, V Muraleedharan participated in the online meeting of the Foreign Ministers of the Association of South East Asian Nations (ASEAN) Regional Forum (ARF) under the Chairmanship of Vietnam. During the 27th ARF meeting, the Ministers exchanged views on International and regional issues.
About Association of Southeast Asian Nations (ASEAN):
2020 Chairmanship – Vietnam
Chairman – Nguyen Xuan Phuc
Secretariat – Jakarta, Indonesia
Membership – 10 States ― Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. 1 Observer – Papua New Guinea.

India-US 2+2 inter-sessional meet held virtually; Exchange Views on Regional Developments

India-United States (US) 2+2 Inter-sessional Meeting was held virtually to discuss bilateral, regional, and multilateral issues including combating COVID-19, counter terrorism, India’s membership on the United Nations Security Council (UNSC), efforts to counteract recent destabilizing actions in South Asia, and the broader Indo-Pacific region. This Inter-sessional meeting was set up pursuant to the India-US 2+2 Ministerial Dialogue which is expected to take place later this year.
About United States:
Capital– Washington, D.C.
Currency– United States Dollar (USD)
President– Donald John Trump

74th Session of the UN General Assembly High-Level Forum on the Culture of Peace held virtually

74th Session of the United Nations General Assembly (UNGA) High-Level Forum (HLF) on the Culture of Peace which was convened by its President Tijjani Muhammad-Bande and addressed by UN Secretary-General Antonio Guterres on the theme “The Culture of Peace: Change our world for the better in the age of Covid-19”.
The event was also addressed by ambassadors of a large number of Member States and High Representatives of several UN entities where Indian side was represented by Counsellor in the Permanent Mission of India to the UN Paulomi Tripathi.
About UNGA:
President Elect– Volkan Bozkir
Headquarters– New York, United States of America


MoHUA Launched Climate Smart Cities Assessment Framework 2.0 & Streets for People Challenge

Union Minister of State (MoS)- Independent Charge (I/C) Hardeep Singh Puri for Ministry of Housing and Urban Affairs(MoHUA) launched the Climate Smart Cities Assessment Framework (CSCAF) 2.0, along with the “Streets for People Challenge” in a virtual event organised by the Smart Cities Mission from New Delhi.
It should be noted that the National Institute of Urban Affairs (NIUA) with support from MoHUA has established the Climate Centre for Cities (C3), now these C3 under NIUA are supporting MoHUA in implementation of CSCAF.
About Ministry of Housing and Urban Affairs (MoHUA):
Minister of State (Independent Charge)– Hardeep Singh Puri
Secretary– Durga Shanker Mishra

Ministry of Education Organises Two-day Conclave on ‘School Education in 21st Century’

The Ministry of Education organised a two-day conclave on the topic ‘School Education in the 21st Century’ under the Shikshak Parv Initiativeon 10th & 11th September, 2020.
Participants of the Conclave:
Expert Practitioners held discussions in the two days’ conclave to give clear explanations on important themes of NEP for school education. Suggestions received on MyGov will also be shared in the conclave. National Awardee teachers and other creative teachers will be a part of this conclave.
About Ministry of Education (formerly known as Ministry of Human Resource Development):
Union Minister – Ramesh Pokhriyal ‘Nishank’
Headquarters – New Delhi

Gujarat, Andaman & Nicobar Emerge as Best State/UT in providing Strong Ecosystem for Startups: DPIIT ranking

Department for Promotion of Industry and Internal Trade (DPIIT) released the 2nd Edition of ‘States on Support to Startup Ecosystems 2019′. The Rankings are based on providing a Strong Ecosystem for promoting Startups.
Gujarat emerged as the best performer among Category X (All States and New Delhi, barring North Eastern (N. E) States & other Union Territories (U. T))
Andaman and Nicobar Islands emerged as best performer among Category Y (All N.E states except Assam and all UTs except Delhi). Gujarat topped the rankings in the 2018 edition of Ranking also.


ADB, Suguna Foods Signed USD 15 Million Deal to Sustain Rural Livelihoods in India

In order to help sustain poultry farming operations, rural livelihoods and food security in India during the COVID-19 pandemic, Asian Development Bank (ADB) has signed an agreement for USD($) 15 million debt financing through the subscription of nonconvertible debentures for Suguna Foods Private Limited (Suguna), one of India’s largest poultry broiler enterprises, in equivalent Indian rupees.

SEBI Modified Multi-Cap Mutual Funds Category

Securities and Exchange Board of India (SEBI) publicized a partially modified portfolio structure for multi-cap mutual funds category through a circular stating minimum investment in equity & equity related instruments and definition of large-cap, mid-cap and small-cap.
With regard to this, Asset Management Company (AMC) will now have to invest at least 25% of their portfolios across large-cap, mid cap and small cap companies each. This decision has been taken for decreasing the risk of being overweight on any one kind of market-cap firm.
About Securities and Exchange Board of India (SEBI):
Headquarter– Mumbai, Maharashtra
Chairman– Ajay Tyagi

RBI Lays Down Guidelines for Banks to Appoint Chief Compliance Officers: September 2020

In order to ensure uniformity and effective management of compliance risk in banking sector, on September 11, 2020, Reserve Bank of India (RBI) laid down guidelines for “Compliance Functions in Banks and Role of Chief Compliance Officer (CCO)” stating appointment and tenure of chief compliance officer (CCO), policy (which should be reviewed at least once a year), and reporting requirements and duties of the compliance function, among others.
With regards to appointment of CCO, he/she must be a senior executive of the bank, preferably in the rank of a General Manager (GM) or an equivalent position (not below two levels from the CEO) with no vigilance case or adverse observation from the RBI should be pending against the candidate.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).


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CCI Approved 20% acquisition of Piramal Pharma Limited by CA Clover Intermediate II Investments

The Competition Commission of India (CCI) has approved the proposed acquisition of 20% issued and paid-up equity share capital(in short- stake) of Piramal Pharma Limited (in short- Piramal Pharma), wholly owned subsidiary of Piramal Enterprises Limited (PEL) by CA Clover Intermediate II Investments (Curie), an affiliated entity of CAP V Mauritius Limited.
Curie is a special purpose acquisition vehicle, which is owned and controlled by investment funds advised by the affiliates of the Carlyle Group Inc. (Carlyle Group).

Government constitutes EGoM to oversee Corporatisation of Ordnance Factory Board

Government of India constituted an Empowered Group of Ministers (EGoM) under the chairmanship of Union Minister for Defence, Rajnath Singh to oversee the Corporatisation of Ordnance Factory Board (OFB).
Ministers in EGoM:
The Ministers in EGoM includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Minister for Law and Justice Ravi Shankar Prasad, Minister of State for Labour and Employment Santosh Kumar Gangwar and Minister of State for Personnel, Public Grievance and Pension Jitendra Singh.
About Ordnance Factory Board(OFB):
Director General, chairman – C S Vishwakarma
Headquarters – Kolkata

President Ram Nath Kovind appoints Paresh Rawal as Chairman of NSD

On the recommendation of the Ministry of Culture, Ram Nath Kovind, President of India appointed Paresh Rawal, actor and former Member of Parliament as the Chairman of National School of Drama(NSD) for the next years, he succeeded Ratan Thiyam, Playwright and theatre Director who served as the chairman of NSD from 2013 to 2017 after which the post was vactan until now.

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