Current Affairs

2 November, 2020

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National

NITI Aayog Released a Draft Model Act and Rules for States on Conclusive Land Titling

NITI (National Institution for Transforming India) Aayog released a draft model Act and rules for states on conclusive land titling.It was released to minimise litigation and ease the land acquisition process for infrastructure projects.
About NITI(National Institution for Transforming India) Aayog:
CEO– Amitabh Kant
Headquarters– New Delhi, India

Government extends Deadline to Make Payment under Vivad Se Vishwas Scheme till March 31, 2021

Central Board of Direct Taxes (CBDT), Government of India has notifiedextension of payment deadline for direct tax legacy dispute resolution scheme (Vivad Se Vishwas) from 31st December, 2020 to 31st March 2021.The deadline for making a declaration under the scheme has also been notified as 31st December 2020.The deadline is an incentive for taxpayers as those who make declaration before the deadlines will have to pay at concessional rates.This is the third time the date has been extended
About Central Board of Direct Taxes (CBDT):
Chairperson – Pramod Chandra Mody
Headquarters – New Delhi

Indian Railways Launches ‘Meri Saheli’ Initiative for Safety of Women Train Passengers

Indian Railways launched the ‘Meri Saheli’ initiative to ensure safety of women passengers on trains across all zones.Under the initiative, women passengers will be provided safety and security during their entire journey, i.e., from originating station till destination station. Meri Saheli is an initiative of Railway Protection Force (RPF).
About Railway Protection Force(RPF):
RPF was established by the Railway Protection Force Act, 1957. It functions under the Ministry of Railways, Govt of India.
Director General– Arun Kumar, IPS

Kerala, Goa, Chandigarh emerge as Best Governed States and Union Territory : PAI 2020

Kerala emerged as the Best Governed State in the Large States Category, Goa emerged as the Best Governed State in Small States Category, Chandigarh emerged as the Best Governed Union Territory based on Governance in the 5th edition of Public Affairs Index 2020 (PAI 2020) released by Public Affairs Centre (PAC) on October 30, 2020.
Overall PAI 2020 Index – Scores and Rankings
i.Large States:
Rank Large States PAI 2020 Index
1 Kerala 1.388
2 Tamil Nadu 0.912
3 Andhra Pradesh 0.531

ii.Small States:
Rank Small States PAI 2020 Index
1 Goa 1.745
2 Meghalaya 0.797
3 Himachal Pradesh 0.725

ii.Union Territory:
Rank Union Territory PAI 2020 Index
1 Chandigarh 1.057
2 Puducherry 0.520
3 Lakshadweep 0.003

About Public Affairs Centre (PAC):
Chairman – K Kasturirangan
Location – Bengaluru, Karnataka

Economy

GSTN Enables Composition Taxpayers to file NIL statement through SMS

Goods and Services Tax Network (GSTN), the IT platform of GST system launched the facility of filing NIL statement in Form GST CMP-08 for Composition Taxpayers through (short message service) and without logging in to the GST portal. CMP-08 is a quarterly statement of self-assessed tax to be filed by Composition Taxpayers. This will benefit 3.5 lakh taxpayers who file NIL statement under Composition Scheme

NABARD Sanctioned Rs 8504.30 lakh under RIDF scheme Goa during 2020-21

National Bank for Agriculture and Rural Development (NABARD) has sanctioned loans worth Rs 8504.30 Lakhunder Rural Infrastructure Development Fund (RIDF) to the Government of Goa for the latter’s various Social Infrastructure Projects.With this, NABARD achieved 100% of the target fixed for sanction to the Government of Goa during 2020-21.

RBL Bank and Visa Launched Instant Payouts “Visa Direct” for FinTechs

RBL Bank (formerly known as Ratnakar Bank) in partnership with Visa has launched the latter’s processing capability “Visa Direct” that allows safe, convenient, real-time and secure funds delivery directly to financial accounts using credit and debit cards. This partnership underlines RBL’s “Partners ka Bank” philosophy.This Launch will enable RBL Bank to help fintechs in enhancing their offerings with Visa Direct.
About RBL Bank:
Managing Director (MD) and Chief Executive Officer (CEO)– Vishwavir Ahuja
Headquarter– Mumbai, Maharashtra
Tagline– Apno Ka Bank
Chatbot– RBL Cares

Sports

Amit Panghal,Ashish Kumar & Sanjeet won gold medal in 1st Alexis Vastine International Tournament held in Nantes, France

1st edition of Alexis Vastine International Boxing Tournament for elite boxers was held from October 27, 2020 to October 31, 2020 at Nantes, France where nine Indians boxers i.e. five men and four women qualified for the Tokyo Olympics, postponed to next year because of the COVID-19 pandemic. It was organized by AIBA (International Boxing Association), FFBOXE (French Boxing Federation) and EUBA (European Boxing Federation) which saw participation from 10 nations.
List of Indian Winners:
Winner Category (Kg) Medal
Amit Panghal 52 Gold
Ashish Kumar 75 Gold
Sanjeet 91 Gold
Kavinder Singh Bisht 57 Silver
Shiva Thapa 63 Bronze
Sumit Sangwan 81 Bronze
Satish Kumar +91 Bronze

About AIBA (International Boxing Association):
Interim President– Dr Mohamed Moustahsane
Headquarters– Lausanne, Switzerland

Miscellaneous

India Successfully Test-Fired Air Launched Version of BrahMos Supersonic Cruise Missile

Indian Air Force (IAF) successfully test-fired an air launched version of the BrahMos supersonic cruise missile from a Sukhoi fighter aircraft in the Bay of Bengal. The missile hit the target of the sinking ship with deadly accuracy.The aircraft, belonging to Thanjavur-based Tigersharks squadron, took off from a frontline airbase in Punjab and it was refuelled mid-air before the missile was released.
About Indian Air Force (IAF):
Chief of the Air Staff (CAS) – Air Chief Marshal Rakesh Kumar Singh Bhadauria
Headquarters – New Delhi

Axis Bank to Acquire Up To 19.002% Instead of 17.002% in Max Life Insurance

Axis Bank Ltd along with its subsidiaries namely, Axis Capital Ltd and Axis Securities Ltd (together Axis Entities) has agreed to enter into revised agreements with Max Financial Services (MFS) Ltd to acquire up to 19.002% of the equity share capital of Max Life Insurance Co Ltd (Revised Agreements).This is in accordance with the Para 5(b) of Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016. Earlier the Axis bank was to acquire 17.002% in Max Life Insurance.
About Axis Bank Ltd:
Headquarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Amitabh Chaudhry
Tagline– Badhti Ka naam Zindagi
Founded– 1993
About Max Life Insurance Company Ltd:
Headquarters– New Delhi, India
MD & CEO– Prashant Tripathy

ESSCI Appoints PVG Menon as its CEO;succeeds N.K.Mohapatra

Electronics Sector Skill Council of India (ESSCI) appointed PVG Menonas its Chief Executive Officer(CEO).He succeeds N.K Mohapatra.
PVG Menon will be responsible to oversee the operations of ESSCI and will work with is governing Council on strategic issues related to the growth of the electronic systems design and manufacturing (ESDM) industry in India
Gist about ESSCI:
i.ESSCI works with industry, the National Skill Development Corporation(NSDC), and the Ministry of Electronics and Information Technology to provide skilling and re-skilling services to the industry.
ii.It is promoted by six Associations namely, ELCINA Electronic Industries Association of India, India Electronics & Semiconductor Association(IESA), Consumer Electronics and Appliances Manufacturers Association(CEAMA), Manufacturer’s Association for Information Technology(MAIT), Indian Printed Circuit Association(IPCA) and Electrical Lamp and Component Manufacturers’ Association of India(ELCOMA).
iii.It also has 2 government nominees on board.
Head Office– New Delhi, India
Chairman– Ajai Chowdhry

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