Current Affairs

18 November, 2020

International

UK Government announces First sponsors for 2021 UN Climate Change Conference

UK (United Kingdom) Government announced SSE, ScottishPower, NatWest Group and National Grid as the first Principal Partners for the 2021 United Nations (UN) Climate Conference also known as COP26.
Arsenal Becomes First Premier League club to sign up to the UN Sports for Climate Action Framework:
Football club Arsenal became the first Premier League club to sign up for United Nations (UN) Sports for Climate Action Framework to support the ambition to achieve climate neutrality by 2050.
About COP26:
President – Alok Sharma
Scheduled Place – Glasgow, Scotland
About United Kingdom (UK):
Prime Minister – Boris Johnson
Capital – London
Currency – Pound Sterling

First-Ever Global commits by WHO to eliminate cervical cancer globally

Cervical cancer is the fourth most common cancer among women globally.During the close of the 73rd World Health Assembly (WHA), World Health Organisation (WHO) launched the first-ever “Global Strategy to Accelerate the Elimination of Cervical Cancer”.The event will be held virtually and hosted by WHO leadership. The governments of Australia, Botswana, Lesotho, Malawi, Nigeria and Rwanda will co-sponsor the event.

National

PM Modi unveils ‘Statue of Peace’ to mark 151st Birth Anniversary of Jainacharya Shree Vijay Vallabh Surishwer Ji Maharaj in Rajasthan

Prime Minister Narendra Modi virtually unveiled the ‘Statue of Peace’ to mark the 151st Birth Anniversary Celebrations of Jainacharya Shree Vijay Vallabh Surishwer Ji Maharaj at Vijay Vallabh Sadhana Kendra, Jetpura, in Pali, Rajasthan.

DIPAM Inked Agreement with WB for Advisory Services on Asset Monetization

Department of Investment and Public Asset Management (DIPAM), which handles government’s disinvestment programme has signed an agreement with World Bank (WB) under which the latter provide advisory services to DIPAM for asset monetization. This was approved by Finance Minister Nirmala Sitharaman.This project would facilitate and accelerate the non-core asset monetization process and help unlock the value of these unused/ marginally used assets for further investments and growth.
About Department of Investment and Public Asset Management (DIPAM):
Secretary– Tuhin Kanta Pandey
About World Bank (WB):
Establishment– 1944
President– David Robert Malpass
Headquarters– Washington, D.C., United States (US)
Members– 189 Countries

Finance Ministry allocated Rs 39,097 cr for MEIS benefits for 2019-20; Rs 15,555 crore for Apr-Dec 2020

In accordance with the notification by Central Board of Indirect Taxes and Customs (CBIC) under Department of Revenue, the Finance Ministry has approved the allocation of Rs 39,097 crore under the Merchandise Exports from India Scheme (MEIS) for the exports made during FY 2019-20. It also approved an allocation of Rs 15,555 crore for MEIS benefits for exports made during the period April 1, 2020 to December 31, 2020
About Ministry of Finance:
Union Minister– Nirmala Sitharaman
Minister of State (MoS)– Anurag Singh Thakur
About Department of Revenue:
It exercises control in respect of matters relating to all the Direct and Indirect Union Taxes through two statutory Boards namely, the Central Board of Direct Taxes (CBDT) and the CBIC.
Revenue Secretary– Ajay Bhushan Pandey

Economy

RBI Published 1st ever ‘nowcast’; India is in 1st historic technical recession

In accordance with the Reserve Bank of India’s (RBI) first-ever estimation based on high-frequency data namely “nowcast”, India’s Gross domestic product (GDP) contracted 8.6% in the quarter ended September 2020 i.e. Q2FY21. Nowcast is prepared by a team of economists including Michael Debabrata Patra, RBI’s deputy governor.As per it, India also has entered a technical recession in the first half of FY21 for the first time in its history as the economy had slumped about 24% in Q1FY21 due to the COVID-19 pandemic.
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, and M Rajeswar Rao)

HDFC Bank launches ‘Mooh Band Rakho’ campaign to Increase Awareness on Cyber Frauds

HDFC Bank launched a campaign, ‘Mooh Band Rakho’ to
increase awareness on cyber frauds and ways to prevent them. The campaign supports the International Fraud Awareness Week 2020(November 15 – 21), a global movement to reduce the impact of fraud.
Purpose of the campaign– To protect individuals from cyber frauds.
Need of the Campaign– More individuals are accessing banking services online, this has increased in COVID-19 pandemic.
About HDFC Bank:
Incorporated– August 1994
Headquarters – Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Sashidhar Jagdishan(Succeeds Aditya Puri)
Tagline– We understand your world

Equitas Small Finance Bank Launches ‘Eva’, a Unique Women Savings Account; Smriti Mandhana, Appointed as Brand Ambassador

Equitas Small Finance Bank Limited(ESFBL) launched ‘Eva’, a unique savings account for Indian women.The product addresses the wellbeing of women in every aspect such as Health, Wealth and Prosperity.Smriti Mandhana, an Indian Woman cricketer has been appointed as the new brand ambassador of ESFBL.
About Equitas Small Finance Bank Limited(ESFBL):
MD and CEO– Vasudevan Pathangi Narasimhan (P N)
Headquarters– Chennai, Tamil Nadu
Commenced the business of SFB– September 5, 2016
Tagline– It’s Fun Banking

Sports

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Miscellaneous

Nitish Kumar takes charge as Bihar Chief Minister for the 7th Time; Renu Devi becomes First Woman Deputy CM of Bihar

Nitish Kumar of Janata Dal (United) party was sworn-in as the 23rd Chief Minister (CM) of Bihar. His swearing-in ceremony was administered by Governor Phagu Chauhan, along with Nitish Kumar 14 Ministers from NDA (National Democratic Alliance) took oath as Ministers. Nitish Kumar has been sworn in as the CM of Bihar for Four Consecutive Terms.
He is also taking charge as CM of Bihar for the seventh time in two decades.

RBI Appoints Senapathy (Kris) Gopalakrishnan, as the 1st Chairperson of Reserve Bank Innovation Hub

Reserve Bank of India(RBI) appointed Senapathy (Kris) Gopalakrishnan, co-founder, and former co-Chairman, Infosys as the 1st chairperson of Reserve Bank Innovation Hub(RBIH). He is currently the Chief Mentor of Start-up Village, an incubation hub for start-ups.Note:RBIH will be guided and managed by a Governing Council (GC) led by a Chairperson.
About Reserve Bank of India:
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad(B.P.) Kanungo, Mahesh Kumar(M.K.) Jain, Michael Debabrata(M.D.)Patra, and M Rajeswar Rao)

Navneet Munot, CIO of SBIFM Appointed as the MD & CEO of HDFC Mutual Funds; Succeed Milind Barve

Maia Sandu, leader of the Action and Solidarity party and former Prime Minister of Moldova, backed by the European Union(EU) won the Presidential runoff votes with around 57.75% of votes. She is set to become the first woman President of Moldova.
Maia Sandu, won the election defeating the pro-russian incumbent president, Igor Dodon by 15 points (42.25% of votes).

Rohit Sharma Signed with Financepeer as Its Brand Ambassador

Rohit Sharma, India’s leading cricketer, signed with Financepeer, Google incubated education fee financing company, as its brand ambassador. Rohit Sharma will be supporting Financepeer to transform the education sector and introduce innovation across the various segments of education.This collaboration between Rohit Sharma and Financepeer will increase the reach of edtech and Fintech platforms of Financepeer among the Indian parents and schools.

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