Current Affairs

5 September, 2020

International

Saudi Arabia Hosted G-20 Foreign Ministers’ Meeting from Riyadh; India Proposed G20 principles on cross border movement

As a part of Sherpa Track for the G20 Leaders Summit 2020, which will be held at the end
of 2020, the current chair of G20 (group of twenty) i.e. Saudi Arabia hosted the virtual G20
Foreign Ministers’ Extraordinary Meeting from Riyadh (Capital of Saudi Arabia) which was
focused upon cross-border movement and strengthening international cooperation across
borders amid the COVID-19 pandemic.
About G-20 or Group of Twenty:
Composition– 19 countries and the European Union (EU)
The 19 countries are Argentina, Australia, Brazil, Canada, China, Germany, France, India,
Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South
Korea, Turkey, the UK, and the US.
2020 Presidency– Saudi Arabia

2020 theme– Realizing Opportunities of the 21st Century For All
Chairman– Saudi Arabian King Salman bin Abdulaziz Al Saud (2020)

National

C-CAMP sign MoU with India-Sweden Healthcare Innovation Centre to nurture frugal innovations

Centre for Cellular and Molecular Platforms (C-CAMP) signed a Memorandum of
Understanding (MoU) with India Sweden Healthcare Innovation Centre (ISIC) to identify and
nurture frugal innovations and make quality healthcare affordable and accessible.
The Collaboration is aimed at building a strong crop of biopharmaceuticals, medtech,
diagnostics, nutraceuticals and other healthcare interventions in India.
About C-CAMP
Chief Executive Order (CEO), Director – Taslimarif Saiyed
Headquarters – Bangalore, Karnataka

12th Mekong Ganga Cooperation Senior Officials’ Meeting held virtually

12th Mekong Ganga Cooperation (MGC) Senior Officials Meeting took place virtually,
The key areas of cooperation tourism, culture, education, transport and communications
were discussed and reviewed during the meeting.
The meeting was attended by Senior Officials from all 6 MGC Member States (India,
Cambodia, Lao PDR (People’s Democratic Republic), Myanmar, Thailand and Vietnam).
It was co-chaired by Vijay Thakur Singh, Secretary (East), Ministry of External Affairs and
Mr. Sok Soken, Under Secretary of State, Ministry of Foreign Affairs and International
Cooperation, Cambodia.

About Ministry of External Affairs:
Union Minister – Subrahmanyam Jaishankar
Minister of State – V. Muraleedharan

Tripura Receives First Inland Shipping Cargo from Bangladesh under PIWTT

Daukandi (Bangladesh) – Sonamura (Tripura) Inland Waterway Protocol route has been
operationalized giving further boost to bilateral trade between India-Bangladesh relations
under Protocol for Inland Water Trade & Transit(PIWTT). This is the first ever export
consignment from Bangladesh to Tripura through the inland waterways.
Bangladeshi vessel, MB Premier carrying cement started from Daukandi on September 03,
2020, after getting permission from Bangladesh Inland Water Transport Authority (BIWTA),
and will reach Sonamura on September 05, 2020, traversing 93 kms along the river Gumti.
About Bangladesh:
Capital– Dhaka
Currency– Bangladeshi taka
President– Mohammad Abdul Hamid

Economy

RBL Bank in Partnership with Empays Payment Systems Launched Cardless Cash Withdrawal Facility from ATMs through IMT System

i.In order to expand RBL Bank’s suite of contactless banking services, it has launched
a cardless cash withdrawal facility from Automated Teller Machines (ATMs), through
the Instant Money Transfer (IMT) system in partnership with Empays Payment
Systems. ii.This service enables the customers of the RBL Bank to withdraw cash without
their debit cards from 389 IMT-enabled bank’s ATMs or more than 40,000 other bank ATMs
across the country.
About RBL Bank:
HeadQuarters– Mumbai, Maharashtra
Managing Director(MD)& Chief Executive Officer(CEO)– Vishwavir Ahuja
About Empays Payment Systems India Pvt Ltd
HeadQuarters– Mumbai, Maharashtra
Founder and CEO– Ravi Rajagopalan

LazyPay Launched 1st of its Kind Digital Credit Card, ‘LazyUPI’, a Combination of UPI & Buy-Now-Pay-Later Concept

LazyPay, a part of PayU Finance has launched‘LazyUPI’, a first of its kind digital credit
card that combines Unified Payments Interface (UPI) and the Buy-Now-Pay-Later
concept. The offering allows the users to access the real-time credit using UPI across
omnichannel networks, which includes offline merchants and e-commerce platforms.
It is to be noted that this solution is a strategic response to the market demand for easy
access to credit across the (online and offline)platforms and higher ticket-size pay-later
options.About PayU:
Headquarters– Netherlands

CEO– Laurent le Moal
CEO, India– Anirban Mukherjee

FIDC Requested RBI to Review New Current Account Rules;Concerns on Routing All Transactions through CC/OD

The umbrella body for non-banking financial companies (NBFCs), Finance Industry
Development Council (FIDC) requested the Reserve Bank of India (RBI) to review
the current account circular dated August 6, 2020.
As per the circular, all transactions should be routed through the CC/OD account which is a
matter of concern for FIDC
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata
Patra, one is yet to be appointed).

RBI Releases Revised Priority Sector Lending Guidelines :Sept.2020

Reserve Bank of India (RBI) reviewed the Priority Sector Lending (PSL) Guidelines to align
it with emerging national priorities amid COVID-19 impact.In this regard, new categories are
included under priority sector for financing viz. start-ups (up to Rs 50 crore); loans to
farmers for installation of solar power plants for solarisation of grid connected agriculture
pumps and loans for setting up Compressed Bio Gas (CBG) plants.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935

Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata
Patra, one is yet to be appointed).

RBI Announced Additional OMO of Rs 20,000 Cr to Ensure Orderly Market Conditions; HTM raised to 22% from 19.5%

Reserve Bank of India (RBI) announced measures in order to ensure orderly market
conditions and congenial financial conditions. In this regard Reserve Bank will conduct
additional special open market operations (OMO) involving the simultaneous purchase and
sale of Government securities (G-secs) for Rs 20,000 crore in two tranches of Rs 10,000
crore each on September 10, 2020 and September 17, 2020.
The apex bank also announced term repo operations of Rs 100,000 crore (1 trillion) to
infuse liquidity into the market.
Static points about Reserve Bank of India (RBI):
-It was established on the recommendation of the Hilton Young Commission.
-RBI is responsible only for printing the currency notes. Minting of coins is done by the
Government of India.
-Dr. Manmohan Singh is the only Prime Minister to have also served as the Governor of
RBI.

Sports

Indian GM Iniyan wins 48th Annual World Open Chess Virtual tournament (online)

Indian Grandmaster Panneerselvam Iniyan won the 48th Annual World Open Chess
Tournament via online with 7.5 points from nine games. The World Open Chess
Tournament is organized by Continental Chess Association. It was held from August 7-9,
2020 in online mode following classical time control.
The tournament is usually held in Philadelphia, New York in the United States, this time it
was conducted virtually due to the ongoing pandemic.

Miscellaneous

IIT Delhi Incubated Startup, Chakr Innovation Launched “Chakr DeCoV” to Decontaminate N95 Masks

Indian Institute of Technology(IIT) Delhi incubated startup Chakr Innovation launched an
Ozone based decontamination device named “Chakr DeCoV” to decontaminate the N95
masks and reuse upto 10 times.
Ashwini Kumar Choubey, Minister of State(MoS)for Health and Family Welfare launched
the device over a virtual platform

2 books on Ma Anand Sheela- Authorised biography, ‘Nothing To Lose’ by Manbeena Sandhu & Memoir, ‘My Story in My Own Words’ to be Released

2 books on Sheela Birnstiel(Other Name- Sheela Ambalal Patel, popularly called as Ma
Anand Sheela), namely ‘Nothing To Lose’, an authorised biography by Manbeena
Sandhu, which portrays the woman behind the strong persona and her Memoir, ‘My Story
in My Own Words’ to be published in October and November respectively.

Goonmeet Singh Chauhan’s New Book “Invertonomics” featuring Ideas to Transform India

Goonmeet Singh Chauhan’s new book “Invertonomics: 8 ideas to transform India” presents
practical ideas and models to solve the 8 specific fundamental problems of India like, Social
inequality, Air pollution, Cleanliness, Safer Cities, Women empowerment and rural economy
deteriorating etc.It was published by published by HarperCollins India.

UNEP Launches New Book “The Little Book of Green Nudges”

United Nations Environment Programme (UNEP) launched a new publication, “The Little
Book of Green Nudges”, to inspire students around the globe to adopt environmentally
friendly habits and greener lifestyles. The Book was drafted by The Behavioural Insights
Team and GRID-Arendal.
About UNEP:
Director – Inger Andersen (Denmark)
Headquarters – Nairobi, Kenya

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