Current Affairs

30 October, 2020


India extends USD 1 Billion Line of Credit for Development projects in Central Asia

India has extended USD 1 Billion (~ INR 7, 350 Crores) Line of Credit for Development Projects in Central Asian Countries. The announcement was made by India during the Second Meeting of the India-Central Asia Dialogue held virtually on 28th October, 2020.
The virtual Meeting was chaired by External Affairs Minister, S Jaishankar.
About Tajikistan:
Capital – Dushanbe
Currency – Tajikistani Somoni
About Turkmenistan:
Capital – Ashgabat
Currency – Turkmenistan Manat

European Commission, ICSSR Signed Implementing Arrangement to Enhance Scientific Cooperation

European Commission and the Indian Council of Social Science Research (ICSSR) signed a new implementing arrangement to enhance scientific cooperation. It was virtually signed by an Ambassador of the European Union to India, Ugo Astuto, and the Member Secretary of the Indian Council of Social Science Research (ICSSR), Virendra Kumar Malhotra.This arrangement will encourage top Indian social scientists (Principal Investigators of Research Projects, Senior Fellowship Awardees and Post-Doctoral Fellows) who are supported by the ICSSR and want to pursue research collaborations with European researchers, supported by the European Research Council (ERC).
About Indian Council of Social Science Research (ICSSR):
Chairman– Prof. Bhushan Patwardhan
Headquarter– New Delhi

India Hosts 19th Meeting of SCO Ministers for Foreign Economy and Foreign Trade Activities

India hosted the 19th Meeting of Shanghai Cooperation Organisation (SCO) Ministers of Foreign Economy and Foreign Trade virtually.
Participants in the meeting:
i.Union Minister of Commerce and Industry, Piyush Goyal, Minister of State (MoS) for Commerce and Industry, Hardeep Singh Puriparticipated in the Meeting.
ii.It was also attended by Secretary General of SCO and Ministers from, Kyrgyz Republic, Kazakhstan, Pakistan, Russia, Tajikistan and Uzbekistan.
About Shanghai Cooperation Organisation (SCO):
Secretary General – Vladimir Norov
Headquarters – Beijing, China


Indian Army Launches Software for Infrastructure Management & Secure Application for Internet (SAI)

Indian army launched a software named ‘Infrastructure Management System (IMS)’ for automation of functions related to infrastructure development and management for ascertaining availability of land, planning and monitoring of works, and environment conservation.The software was inaugurated by Chief of Army Staff (COAS) General Manoj Mukund Naravaneduring the Army Commanders Conference held on 28th October 2020.
Army Launches Secure Application for Internet (SAI):
Indian Army has developed a simple and secure messaging application named “Secure Application for Internet (SAI)” for providing end to end encryption messaging protocol over the internet.
About Indian Army:
Chief of Army Staff – General MM Naravane
Headquarters – New Delhi

NITI Aayog, QCI Launched NPMPF to Transform Infrastructure Sector in India; Electricity Access in India Report also Released

i. NITI (National Institution for Transforming India) Aayog and Quality Council of India (QCI) launched the ‘National Program and Project Management Policy Framework (NPMPF)’ to transform the infrastructure sector in India.
ii.It was launched by Union Minister for Road Transport and Highways and Micro, Small and Medium Enterprises Nitin Jairam Gadkari along with Union Minister Piyush Goyal, NITI Aayog CEO Amitabh Kant, and QCI Chairman Adil Zainulbhai.
iii.Nitin Gadkari also unveiled the Indian Infrastructure Body of Knowledge (InBoK), a book on the practice of program and project management in India.
About Smart Power India:
Chief Executive Officer (CEO)– Jaideep Mukherji
Headquarter– Gurugram, Haryana
About The Rockefeller Foundation:
President– Dr. Rajiv J. Shah
Headquarter– New York, United States (US)


IOCL Partners with IBM for Digital Services

Indian Oil Corporation Limited(IOCL) and International Business Machines Corporation(IBM) entered into partnership to transform the customer’s experience of IOCL. Under this partnership, IBM developed IndianOil One mobile app & portal which will be used by about 130 million consumers covered by about 12,400 IOCL distributors.
About International Business Machines Corporation(IBM):
Chief Executive Officer(CEO)– Arvind Krishna
HeadQuarters– Armonk, New York, United States of America(USA)
About Indian Oil Corporation Limited(IOCL):
HeadQuarters– New Delhi, India
Chairman– Shrikant Madhav Vaidya

IndusInd Bank Becomes the 1st bank in India to Go Live on RBI’s Account Aggregator Framework

IndusInd Bank announced that it has gone live as a Financial Information Provider (FIP) under the new Account Aggregator(AA) Framework of the Reserve Bank of India (RBI). IndusInd Bank becomes the 1st bank in India to do so.The bank went live as FIP with DigiSahamati Foundation, a self-organised Collective of the Account Aggregator ecosystem.
About IndusInd Bank:
Managing Director(MD)& Chief Executive Officer(CEO)– Sumant Kathpalia
Established– 1994
HeadOffice– Mumbai, Maharashtra
Tagline-We Make You Feel Richer

NTPC inked Loan Agreement with JBIC for JPY 50bn under GREEN initiative; SBI inked for $1bn

NTPC (formerly known as National Thermal Power Corporation Limited) Limited signed foreign currency loan agreement with Japanese Government’s financial institution, Japan Bank for International Co-operation (JBIC) for JPY (Japanese Yen) 50 billion (approx. USD 482 million or Rs. 3,582 crore) under its Global Action for Reconciling Economic growth and Environment preservation (GREEN) initiative.It should be noted that this is the first fundingfor NTPC Ltd under JBIC’s GREEN .
About NTPC Limited:
Chairman & Managing Director (CMD)– Gurdeep Singh
Headquarter– New Delhi
Parent Ministry– Ministry of Power
Japan Bank for International Co-operation (JBIC):
Governor– Tadashi Maeda
Headquarter– Tokyo, Japan


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Late Actor Om Puri Honoured with Lifetime Achievement Award at 3rd IIFFB 2020

At the 3rd India International Film Festival of Boston (IIFFB) 2020 based in Boston, United States of America(USA) held as a virtual event from 16th to 18th October 2020, the Lifetime Achievement Award 2020 was accorded to Late Actor Om Puri which was received by his wife Nadita Puri.Chef Vikas Khanna was honoured with “Pride of India” a special award at the 3rd IIFFB 2020.
About Om Puri:
Om Puri was an acclaimed actor who worked with directors like Satyajit Ray, Shyam Benegal, Govind Nihalni and Mrinal Sen and he has also worked with various Hollywood directors like Roland Joffe, Mike Nichols, Lasse Halstrom etc.,
i.He received the Order of the British Empire (OBE) award from Queen Elizabeth II for his contribution to British Film and television industry.
ii.He received the Padma Shri Award in 1990 for his contribution to Arts.
iii.He also received the Soviet Land Nehru, The Karlovy Vary and 2 National Awards (1982 for Arohan and 1983 for Ardh Satya).
IIFFB 2002:
i.IIFFB 2020, the 3-day festival featured events including personalities like Luke Mendes, Brahmanand Singh, Sushant Singh, Danish Renzu, Tanuja Chandra, Saleel Shriniwas Kulkarni, Mikhil Musale and Swanand Kirkire.
ii.Various discussions on topics on drug use, mafia, Bollywood as judged by the media and Indian cinema’s future in Covid era were conducted.
Other Awards of IIFFB 2020:
Award Winner
Best Feature Film Award 2020 Kaanthi directed by Ashok R Nath
Best Actor (male) 2020 Victor Bannerjee for “Josef: Born In Grace”
Best Actor (female) 2020 Shylaja Ambu for “Kaanthi”
Best Short Film 2020 Better Than Neil Armstrong directed by Alireza Ghasemi
Best Film With A Social Cause 2020 Baitullah directed by Jitendra Rai

DBS Named Asia’s Safest Bank for 12th Consecutive Year: Global Finance’s Safest Banks 2020

Global Finance, New York based trade publication released the list of World’s 50 Safest Banks 2020 which named DBS Bank, Singapore as the Safest Bank in Asia for the 12th consecutive year. DBS secured the 4th rank as the safest commercial bank in the world and 14th safest bank globallyfrom 2019 and 2018. Due to COVID-19 pandemic situation the Global Finance conducted a virtual award ceremony of the 2020 World’s Safest Banks on 19th October 2020.
Top 3 World’s Safest Bank & Asia’s Safest Bank 2020:
Rank Top 3 World’s Safest Banks 2020 Top 3 Safest Banks in Asia 2020
1 KfW (Germany) DBS Group (Singapore)
2 Zuercher Kantonalbank (Switzerland) Oversea-Chinese Banking Corporation(Singapore)
3 BNG Bank (Netherlands) United Overseas Bank(Singapore)
14 DBS Bank(Singapore)
Feats of DBS Bank:
i.DBS Bank has also won the Global Finance’s Best Bank in the World 2020 which marks the 3rd consecutive year for DBS Bank to be honoured with the World’s Best Bank award.
ii.DBS bank was also named the World’s Best Bank 2019 by Euromoney, a leading financial publication and Global Bank of the Year 2018 by Financial Times Publication.
DBS Bank has recently launched a new brand campaign on the importance of safety featuring Sachin Tendulkar as its brand ambassador.
About Global Finance:
Editor in Chief & Chairman- Paolo Panerai
Publisher & President– Joseph D. Giarraputo
Headquarters– New York, United States of America

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