Current Affairs

21 November, 2020

International

PM Narendra Modi holds India-Luxembourg Virtual Summit with Luxembourg PM Xavier Bettel

Prime Minister (PM) Narendra Modi holds a virtual India-Luxembourg Bilateral Summit with Xavier Bettel, Prime Minister of Grand Duchy of Luxembourg for strengthening the relation between both nations in the post-COVID times.The key focus areas of the association include financial technology, green financing, space applications, digital innovations and start-ups, among others.
About Luxembourg Stock Exchange:
Chief Executive Officer (CEO)– Robert Scharfe
Headquarter- Luxembourg

India Ranked 77 in 2020 Global Bribery Risk Matrix by TRACE; Denmark Topped with Lowest Risk

A global list of measuring business bribery risks “The 2020 TRACE Bribery Risk Matrix” was released by an anti-bribery standard setting organisation TRACE International, featuring 194 countries, territories, and autonomous and semi-autonomous regions.In accordance with the Matrix, India is at 77thposition with a total risk score of 45 as compared to the 78th position in 2019 with a score of 48.
About TRAC International:
President and Founder– Alexandra Wrage
Headquarter– Maryland, United States (US)

National

Hardeep Singh Puri Launched Safaimitra Suraksha Challenge; Conferral of Swachhata Awards 2020 held on World Toilet Day

The occasion of World Toilet Day i.e. on November 19, 2020, was observed by the Ministry of Housing and Urban Affairs (MoHUA) and Ministry of Jal Shakti with a launch of Safaimitra Suraksha Challenge and conferring of Swachhata Awards 2020 on the 20 best performing districts, respectively. Both events are detailed as below:Minister of State (MoS), Independent Charge (I/C) Hardeep Singh Puri, Ministry of Housing and Urban Affairs (MoHUA) launched a Safaimitra Suraksha Challenge at a webinar in New Delhi where pledge has been taken by senior officials representing 243 cities to mechanize all sewer and septic tank cleaning operations by 30th April 2021.Union Minister of Jal Shakti, Gajendra Singh Shekhawat along with the Minister of State (MoS) Rattan Lal Kataria felicitated top districts with ‘Swachhata Puraskar’ through a virtual event from New Delhi amid COVID-19. The awards recognized their significant contribution towards Open Defecation Free (ODF) Sustainability and ODF Plus goals.

OshoCorp Global becomes 1st Private firm to Receive Indian Army’s Approval for Manufacturing Specialised Tank Ammunition

For the First Time, Indian Army has given Project sanction order to Private Firm OshoCorp Global for development and supply of Specialised ammunition for its Main Battle Tanks T-72 and T-90.The Project’s cost is over INR 2, 300 Crores and it has a potential for future domestic and export orders.
Other Approvals:
OshoCorp received Army’s Approval for development and supply of Auxiliary Power Units (APU) for the T-72 and T-90 tanks. They will develop four APUs, two each for T-90 and T-72 Tanks, for trial and approval and subsequently produce 3,257 APU’s with a project cost of over ₹1325 crore.
What is APU?
APU is an alternate source of power for the fire control system of the tank and ancillaries while deployed in surveillance mode.
About OshoCorp Global:
Chief Executive Officer (CEO) – Ashutosh Khate
Head quarter – New Delhi
About Indian Army:
Chiefs of Army Staff – General Major Mukund Naravane
Headquarters – New Delhi

PM Modi, Bhutan PM Tshering e-launched RuPay card Phase-II;MoU signed for cooperation in space sector

Prime Minister (PM) Narendra Modi and Bhutan Prime Minister Lotay Tshering jointly e-launched RuPay card Phase-IIwhich will allow Bhutanese card holders to access RuPay network in India.In August, 2019 Prime Ministers of two countries jointly launched RuPay card Phase-I which enabled India’s RuPay card holders to access ATMs and PoS terminals across Bhutan.A Memorandum of Understanding (MoU) was signed between India and Bhutan for cooperation in the space sector to instill the knowledge of space, science and technology in children.
About Bhutan:
Capital – Thimphu
Currency – Bhutanese Ngultrum (BTN)

Economy

Kotak Mahindra Asset Management Company Launches ‘Kotak ESG Opportunities Fund’; Managed by Harsha Upadhyaya

Kotak Mahindra Asset Management Company Limited (KMAMC)launched ‘Kotak ESG Opportunities Fund’, an open ended equity scheme that focuses on Environmental, Social and Governance (ESG) factors and the Principles for Responsible Investing (PRI).The Kotak ESG Opportunities Fund, will be managed by Harsha Upadhyaya, Chief Investment Officer(CIO) – Equity & President, KMAMC.
About Kotak Mahindra Asset Management Company Limited (KMAMC):
Managing Director(MD)– Mr. Nilesh Shah
Commenced operations– December 1998
HeadOffice- Mumbai, Maharashtra

ICICI Bank in Partnership with Pine Labs Launches ‘ICICI Bank Cardless EMI’, a 1st of its kind fully digital, cardless EMI facility at retail stores

ICICI Bank Ltd in partnership with Pine Labs launched ‘ICICI Bank Cardless EMI’(Equated Monthly Instalments).ICICI Bank becomes India’s first bank and first in industry to launch a fully digital payment mode, a cardless EMI facility at retail stores.
Purpose- The facility allows the bank’s pre-approved customers to use their mobile phone and PAN(Permanent Account Number)instead of wallet or cards, to purchase their gadgets or home appliances at retail stores across PAN India.
About ICICI Bank Ltd:
Formed– 1955(incorporated in 1994)
Headquarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Sandeep Bakhshi
Tagline– Hum Hai Na, Khayal Apka
About PineLabs:
HeadQuarters– Noida, Uttar Pradesh
CEO– B. Amrish Rau
Founder & Chairman– Lokvir Kapoor
Founded– 1998

GoI, NCRTC & NDB sign Agreement for USD 500 Million for Delhi-Meerut RRTS Project

Ministry of Housing and Urban Affairs (MoHUA), Govt of India, National Capital Region Transport Corporation Limited (NCRTC) and New Development Bank (NDB) of BRICS (Brazil, Russia, India, China & South Africa) signed a loan agreement for lending USD 500 Million (~ INR 3708 Crores) for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project (RRTS)’ in the National Capital Region (NCR).
Objective:To Develop an efficient and sustainable regional transport system to reduce traffic congestion in NCR.
About New Development Bank (NDB):
President – Marcos Troyjo (Brazil)
Headquarters – Shanghai, China

Sports

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Miscellaneous

Defence Minister, Rajnath Singh Launched 1st of its kind ‘Land Management System’ for Managing Defence Land

Union Minister for Defence, Rajnath Singh virtually launched a Portal “Land Management System (LMS)”, it is the First LMS portal developed by the Department of Defence in association with Director General Defence Estates (DGDE) and Armed forces.The portal will help in improving the overall management of defence land.
About Ministry of Defence:
Union Minister – Rajnath Singh
Minister of State – Shripad Yesso Naik

DEA Approves Swap of Mitsui Sumitomo’s Max Life Stake of 20.57% with 21.87%stake in Max Financial Services

Department of Economic Affairs(DEA), Ministry of Finance(MoF) gives approval for a swap of 20.57% stake by Mitsui Sumitomo Insurance (MSI) Company Ltd that it holds in Max Life with a 21.87% stake in Max Financial Services Ltd(MFSL).
About Mitsui Sumitomo Insurance (MSI) Company Ltd:
President, Chief Executive Officer(CEO)– Noriyuki Hara
Head Office– Tokyo, Japan
Established– October 21, 1918
About Max Financial Services Ltd(MFSL)
MFSL is a part of the Max Group and is the holding company for Max Life.
MD– Mr. Mohit Talwar(Vice Chairman of the Max Group)
Headquarters– New Delhi, India

Dr. Adam Yao Liu Won the Exim Bank’s BRICS Economic Research Award 2020 for his PhD Dissertation

Dr. Adam Yao Liu, a political scientist trained at Stanford University, won the Export-Import Bank of India’s (India Exim Bank’s) BRICS Economic Research Award 2020 for his for his Ph.D. dissertation, “Building Markets within Authoritarian Institutions: The Political Economy of Banking Development in China.”The award was announced by David Rasquinha, Managing Director(MD) of India Exim Bank, during the 10th Annual BRICS Financial Forum over a virtual platform, organised by VEB.RF Russian National Development Corporation.

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