Current Affairs

31 October, 2020

International

India, Mexico hold 8th Joint Commission Meeting; agree to strengthen ‘Privileged Partnership

The 8th India-Mexico Joint Commission Meeting was held virtually on 29th October,
2020. The meeting was co-chaired by S. Jaishankar, External Affairs Minister of India
and Marcel Ebrard, Minister of Foreign Affairs of the United Mexican States.

Nitin Gadkari: Feni Bridge connecting India & Bangladesh to be completed By December 2020

Nitin Gadkari, Union Minister for Road Transport &Highways announced that the 1.8
kilometer Feni Bridge, the Reinforced Cement Concrete(RCC) bridge over the river Feni
which connects Sabrum in Tripura, India and Ramgarh in Chittagong, Bangladesh will be
completed by December 2020.
About Tripura:
Chief Minister– Biplab Kumar Deb
Governor– Ramesh Bais
Capital– Agartala

National

Kabartal Wetland of Bihar Designated as Ramsar Site

Ramsar Conventiondeclared Kabartal Wetland also known as Kanwar Jheel in
Begusarai, Bihar as a site of international importance. Kabartal Wetland has been included
in the ‘List of Wetlands of International Importance’ established by Article 2.1 of the
convention.

President signs Ordinance to Constitute Commission for Air Quality Management in NCR & Adjoining areas

Ram Nath Kovind promulgated the ‘Commission for Air Quality Management in National
Capital Region and Adjoining Areas Ordinance, 2020’ for Air Quality Management in
Delhi-National Capital Region (NCR) and adjoining areas.
The ordinance proposes the setting up of a permanent commission which will work for
better coordination, research, identification and resolution of problems surrounding air
quality index and other connected issues.
About Delhi:
Chief Minister – Arvind Kejriwal
Governor – Anil Baija

India and Maldives get Three new UNESCO Biosphere Reserves

International Coordinating Council (ICC) of UNESCO’s (United Nations Educational,
Scientific and Cultural Organization) Man and the Biosphere (MAB)
programmeincluded Panna Biosphere Reserve (Madhya Pradesh) in
India, Fuvahmulah Biosphere Reserve (Maldives) and Addu Atoll Biosphere Reserve
(Maldives) to UNESCO’s World Network of Biosphere Reserves.
The MAB-ICC which met online from 27-28th October, 2020 approved these additions.
About UNESCO’s (United Nations Educational, Scientific and Cultural Organization):
Director-General – Audrey Azoulay
Headquarters – Paris, France

Harsh Vardhan Launches DST Initiative SERB–POWER for Women Scientists

Harsh Vardhan, Union Minister for Science & Technology e-launched a scheme
titled ‘SERB-POWER’(Science and Engineering Research Board-Promoting Opportunities
for Women in Exploratory Research), which is designed exclusively for women
scientists.The scheme has been initiated by SERB, a Statutory body of the Department of
Science and Technology (DST), Government of India.
Constituency:
Harsh Vardhan– Chandni Chowk, New Delh

Economy

Criteria for HFCs not having 60% of its net assets deployed for housing loans

They must get 50% of its books utilised for home loans by March 31, 2022, 55% by March
31, 2023 and 60% by March 31, 2024. Minimum percentage of total assets towards housing
finance for individuals during this period should be raised to 40%, 45% and 50%,
respectively

RBI Revises Norms for Housing Finance Firms: October 2020

The Reserve Bank of India (RBI) has released final guidelines for housing finance
companies (HFC) stating that these home financiers should have at least 60% of their net
assets deployed in the business of providing finance for housing by March 31, 2024, with
individual loans making up at least 50% of all assets.Also HFCs should also have minimum
net owned funds (NOF) of Rs 20 crore to commence housing finance as its principal
business or carry on the business of housing finance as its principal.

IFSCA approves Bullion Exchange Regulations, 2020 & Global In-House Centres Regulations, 2020

International Financial Services Centres Authority (IFSCA) approved the International
Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 and
International Financial Services Centres Authority (Global In-House Centres) Regulations,
2020 during a meeting chaired by Injeti Srinivas, Chairman of IFSCA.

Sports

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Miscellaneous

Indian Navy Warship INS Kora Test-fires Anti-Ship Missile (AShM) in Bay of Bengal

Indian Navy’s Guided Missile Corvette INS Kora (Indian Naval Ship) tested fired AntiShip Missile (AShM) in Bay of Bengal.
The missile successfully hit the target at maximum range with precise accuracy.INS Kora is
a Kora-class guided missile corvette of Indian Navy. It was commissioned into service in
1998.
About Indian Navy:
Chief of Navy Staff (CNS) – Admiral Karambir Singh
List of Destroyers in Indian Navy – Kolkata Class (INS Kolkata, INS Kochi, INS Chennai),
Delhi Class (INS Delhi, INS Mysore, INS Mumbai), Rajput Class (INS Rajput, INS Rana,
INS Ranvir, INS Ranvijay)

Justice Bansi Lal Bhat gets 3rd Extension as Officiating Chairperson of NCLAT till December 31, 2020

The Ministry of Corporate Affairs has extended the tenure of Justice Bansi Lal Bhat as the
officiating Chairperson of National Company Law Appellate Tribunal (NCLAT) till 31st
December 2020 or till a regular Chairperson is appointed or until further orders.

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