Current Affairs

23 December, 2020

International

India-Vietnam Virtual Summit 2020 between Prime Ministers Narendra Modi & Nguyen Xuan Phuc

i.India-Vietnam Virtual Summit 2020 held which was co-chaired by Prime Minister (PM) Narendra Modi and his Vietnamese counterpart Nguyen Xuan Phuc. It held to review entire gamut of bilateral relations, discussions on regional & global issues of mutual interest, including post-pandemic economic revival.
ii.Both sides inked 7 MoUs (Memorandum of Understandings) and also set forth the Joint Vision for Peace, Prosperity and People to guide the future development of India – Vietnam Comprehensive Strategic Partnership.
iii.There will be implementation of the High Speed Guard Boat (HSGB) Manufacturing Project for Vietnam Border Guard Command under the US$ 100 million Defence Line of Credit extended by Government of India (GoI) to Vietnam.
iv.The Embassy of India, Hanoi and Telecommunications University, Ministry of National Defence, Vietnam signed an agreement for US$ 5 million Indian Grant Assistance for Army Software Park at National Telecommunications University, Nha Trang, Vietnam.
About Vietnam:
Capital– Hanoi
Currency– Vietnamese dong

National

MPEDA launches India’s 1st Aquafarmers Call Centre at Vijayawada, Andhra Pradesh

Marine Products Export Development Authority (MPEDA) has launched India’s 1st Call Centre for Aquafarmers at Vijayawada, Andhra Pradesh. The call centre will handle calls in English & Hindi. Through the Call Centre, MPEDA will address the technical issues, and impart knowledge about efficient farming methods. The call centre will primarily cater to the needs of aqua farmers in Andhra Pradesh, as it is responsible for 60% of India’s marine products export basket. The headquarters of MPEDA is situated in Kochi, Kerala.

“JSA II: Catch the Rain” Awareness Generation Campaign Launched by NWM & NYKS

i.National Water Mission (NWM), Ministry of Jal Shakti (MoJS) in collaboration with Nehru Yuva Kendra Sangathan (NYKS), Ministry of Youth Affairs & Sports (MoYAS) launched the “JSA II: Catch the Rain” Awareness Generation Campaign in New Delhi. JSA stands for Jal Shakti Abhiyan.
ii.The awareness generation phase of campaign will run from mid-December 2020 to March 2021 with tagline “catch the rain, where it falls, when it falls”.
iii.The campaign is focuses towards water conservation and rainwater harvesting with the involvement of youngsters.
About Nehru Yuva Kendra Sangathan (NYKS):
Chairperson– Kiren Rijiju
Headquarter– New Delhi

Govt decides to constitute HLC headed by Amit Shah to Commemorate 125th birth anniversary of Netaji Subhas Chandra Bose

Government has decided to constitute a High Level Committee (HLC), to be headed by Union Minister Amit Shah, Ministry of Home Affairs (MHA), for commemoration of 125th Birth Anniversary of Netaji Subhas Chandra Bose.The Committee will decide on year long activities starting 23rd January, 2021.He was born on January 23, 1897. The Commemoration is being held as a tribute to the contribution that Netaji made to India’s freedom struggle.
Members of committee: The members of the Committee will include experts, historians, authors, family members of Netaji Subhas Chandra Bose, as well as eminent persons associated with Azad Hind Fauj-INA.
About Central Ground Water Board (CGWB):
Chairman – GC Pati
Headquarter – Faridabad, Haryana.
CGWA was constituted under sub-section (3) of Section 3 of the Environment (Protection) Act, 1986.

RIL, BP commence Gas production from Asia’s Deepest Gas Field ‘R-cluster’ situated in Krishna-Godavari Basin

Reliance Industries Limited (RIL), BP (formerly known as The British Petroleum Company plc) have commenced Gas production from Asia’s Deepest Gas Field ‘R-cluster’ situated in the KG-D6 block, Krishna-Godavari basin of the Bay of Bengal (eastern coast of India). The gas reserve is located at a water depth of greater than 2, 000 metres, making it the deepest offshore gas field in Asia.
i.‘R-cluster’ is the 1st operational project of the 3 deepwater gas projects that RIL & BP are developing together in the KG-D6 block. The other two projects are Satellites Cluster & MJ Field.
ii.Plateau Gas Production (i.e Constant Production Rate) at the ‘R-Cluster’ is expected to reach ~ 12 Million standard cubic meters per day (mmscmd) in 2021.
About Reliance Industries Limited (RIL):
Headquarters– Mumbai, Maharashtra.
Chairman & Managing Director (MD)– Mukesh Ambani.
About BP:
formerly known as The British Petroleum Company plc
Chief Executive Officer – Bernard Looney
Headquarters – London, United Kingdom

Economy

India’s GDP to Contract by 7.3% in FY21: NCAER

i.The ‘2020-21 Mid-Year Review of the Indian Economy’ of National Council of Applied Economic Research (NCAER)has forecasted that India’s Gross Domestic Product(GDP) in FY21 will contract by 7.3%(-7.3%) from -12.6% estimated in September 2020 with anticipation that the economy will register marginal growth in the December quarter.
ii.The GDP for Q3(October-December 2020) of FY21 is expected to be 1% and 2% for Q4(January-March 2021) of FY21.
About National Council of Applied Economic Research (NCAER):
Headquarters– New Delhi, India
President– Nandan M Nilekani
Director General– Shekhar Shah

BoB Signs MoU with Defence Forces for its Newly Launched ‘Baroda Military Salary Package’

i. Bank of Baroda(BoB) to offer special customized banking services through ‘Baroda Military Salary Package’ has signed a Memorandum of Understanding (MoU)with Indian Navy and Indian Coast Guard and renewed its existing MoU with the Indian Army.
ii.This package was also presented to the Indian Air Force.
iii.A similar package was also introduced to Central Armed Police Forces (CAPF) by the bank.
About Bank of Baroda(BoB):
i.BoB was founded by Maharaja Sayajirao Gaekwad III of Baroda
ii.The Bank has sponsored 3 Regional Rural Banks(RRBs) namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank and Baroda Gujarat Gramin Bank.
HeadOffice– Vadodara(earlier known as Baroda), Gujarat
Managing Director(MD) and Chief Executive Officer(CEO)– Sanjiv Chadha
Established– 20 July 1908
Tagline– India’s International Bank

Central Bank of India in association with NPCI Launches ‘RuPay Select’ Contactless Debit Card

i. Occasion of Central Bank of India’s 110th foundation day, the bank in association with National PaymentsCorporation of India(NPCI) launched ‘RuPay Select’, a unique variant of contactless debit card.
ii.It is the bank’s one-of-its-kind health & wellness focused card.
iii.On this occasion, the Central Bank of India also launched FASTAG (for electronic toll collection) in association with OSTA.
About National Payments Corporation of India(NPCI):
It is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007
Incorporated– Under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013)
Established– 2008
MD & CEO– Mr. Dilip Asbe
Head Office– Mumbai, Maharashtra
About Central Bank of India:
It is the 1st first Indian commercial bank which was wholly owned and managed by Indians.
Established– 1911
Managing Director & Chief Executive Officer– Shri Pallav Mohapatra
Headquarters– Mumbai, Maharashtra
Tagline– Central to You Since 1911, Build a better life around us

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Miscellaneous

Warburg Pincus Sells 4.47% stake in AU Small Finance Bank for Rs 1,247.69 crore

Redwood Investment Ltd, an entity owned by Warburg Pincus sold a 4.47% stake(13.7 million shares)in AU Small Finance Bank for Rs 1,247.69 crore through open market transactions. As per the latest shareholding data, Warburg Pincus held 4.58% of AU Small Finance Bank.

FIICC Honoured Ratan N Tata with the title ‘Global Visionary of Sustainable Business and Peace’

i.The Federation of Indo-Israel Chambers of Commerce (FIICC) honoured Veteran industrialist Ratan Naval(N) Tata(82 years old) with the title of ‘Global Visionary of Sustainable Business and Peace’ for promoting ‘unity, peace and sustainability.
ii.During the event, FIICC announced the global partnership with Dubai headquartered IFIICC, an independent organisation that was recently launched as an international platform for collaboration between Israel and the Indian migration.
About Federation of Indo-Israeli Chambers of Commerce (FIICC):
It is the only bilateral Chamber of Commerce in South India, that is committed to the development of Indo-Israel business and trade relations.
Chairman– B.V. Naidu
HeadQuarters– Bangalore, Karnataka

Singapore’s Foodie “Hawker” Culture Given UNESCO Recognition

i.Singapore’s tradition of communal dining at hawker centres has been included in the UNESCO’s (United Nations Educational, Scientific and Cultural Organization) “Representative List of the Intangible Cultural Heritage of Humanity” for its cultural significance. Singapore hawker culture got this recognition two years after Singapore submitted a bid to be included in the list.
ii.The award took place at a virtual ceremony on December 16, 2020.
iii.Singapore must submit a report every six years to UNESCO, showing the efforts made to safeguarding and promoting its hawker culture.
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
Director General– Audrey Azoulay
Headquarters– Paris, France

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