Saturday, 5 December 2020

CURRENT AFFAIRS FOR BANK 4 DECEMBER 2020

                                                             

                BITA (Banking Institute & TNPSC Academy)

                                                                                                                           4 December 2020

                                                     CURRENT AFFAIRS

NATIONAL NEWS

·         Kolkata’s Majerhat Bridge Named “Jai Hind” to mark Subhas Chandra Bose’s 125th Birth Anniversary
West Bengal Chief Minister Mamata Banerjee named the newly-built Majerhat bridge in Kolkata as “Jai Hind” bridge to commemorate the 125th birth anniversary of Subhas Chandra Bose.

  • The 650-metre-long bridge, which has been built in the place of an old one that collapsed in September 2018.
  • The bridge, on the arterial Diamond Harbour Road, connects the central part of the city to the soutwestern suburbs of Behala and beyond.
          • INTERNATIONAL NEWS

 India-Suriname held 7th Joint Commission Meeting

·         On 04 December 2020 Current Affairs:The 7th India-Suriname Joint Commission Meeting (JCM) was held virtually on 2nd December 2020.

  •  The Ministers discussed the importance of this mechanism to deepen the political dialogue, reviewed bilateral ties, and exchanged views on regional and multilateral cooperation.
  • The meeting was co-chaired by the Minister of State for External Affairs, V Muraleedharan, and the Minister of Foreign Affairs, International Business and International Cooperation of the Republic of Suriname, Ambassador Albert R. Ramdin.

 India & USA signs MoU on Intellectual Property Cooperation

  • The Government of India and the United States of America (USA) have signed a Memorandum of Understanding (MoU) in the field of Intellectual Property Cooperation.
  • As a part of this MoU, the two sides will develop Biennial Work Plan to implement the MoU which will include the detailed planning for carrying out of the co-operation activities including the scope of action. The Union Cabinet had approved the signing the MoU for the same on 19 February 2020.
  • The MoU was signed between Dr Guruprasad Mohapatra, Secretary, DPIIT and Mr Andrei Iancu, who represented the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and the United States Patent and Trademark Office (USPTO), Department of Commerce of the United States of America respectively.

New Zealand declares a climate change emergency 

  • ·         New Zealand promised its public sector would become carbon neutral by 2025 as it declared a climate emergency, a symbolic move that critics said needed to be backed with greater actions to reduce emissions.

New Zealand joins 32 other countries that have declared a climate emergency.

  • The climate emergency declaration was based on the Intergovernmental Panel on Climate Change’s findings that to avoid more than 1.5 degree Celsius rise in global warming, emissions would need to fall by around 45% from 2010 levels by 2023 and reach zero by around 2050.

India to surpass 350 mn 5G connections by 2026

  • In India, 5G subscriptions will surpass 350 million, accounting for 27 per cent of all mobile subscriptions in 2026, Swedish gear maker Ericsson said in a report titled  “Ericsson Mobility Report.” 
  • The projections come on the heels of another Fitch Ratings report that said that 5G spectrum auction India could be delayed if the government focused on a 4G auction next year.
  • Globally, more than 1 billion people will have access to 5G coverage by the end of 2020. The report projects that four out of every ten mobile subscriptions in 2026 will be 5G.


APPOINTMENTS NEWS

 Kuldeep Handoo appointed as “Fit India” movement ambassador

  •  Srinagar born Wushu coach and the first Dronacharya Awardee from the Union Territory of Jammu and Kashmir, Kuldeep Handoo is appointed as the Ambassador of Fit India movement.
  • He won 11 gold medals in National and 6 in International stage, is the Wushu coach of Team India.
  • Under his guidance Athletes have won two gold medals at the world championship and one at the World Cup. He also serves as Inspector of police in Jammu and Kashmir.

Rajnish K Jenaw posted as CMD, NSFDC

  • The Appointments Committee of the Cabinet (ACC) has approved the appointment of Rajnish Kumar Jenaw (IP&TA&FS) as new Chairman & Managing Director (CMD) of National Scheduled Castes Finance & Development Corporation (NSFDC) under the Department of Social Justice & Empowerment.
  • Jenaw has been appointed to the post with effect from the date of assumption of charge and for a period up-to August 31, 2024, i.e. date of his superannuation or until further orders, whichever is earlier.
  • He is a 1992-batch Indian Post & Telecommunication Accounts and Finance Service officer.

BANKING & FINANCE

MSP for Crops: What is 1.5-times MSP formula?

  • Farmers are protesting against the farm bills passed by the central government. Farmers fear that the bills with do away with the Minimum Support Price (MSP). The MSP is the price fixed by government for crops produced by farmers, in addition to the cost of production. Know here how is MSP calculated and its 1.5 times formula.

RBI Monetary Policy 2020-21: RBI keeps Repo Rate unchanged at 4%

  • The Reserve Bank of India released its bi-monthly monetary policy 2020-21 on December 4, 2020. The central bank has kept the Repo Rate unchanged at 4%. Consequently, the Reverse Repo Rate stands unchanged at 3.35% and the Bank & Marginal Standing Facility (MSF) rates remain unchanged at 4.25%.

RBI directs HDFC Bank to stop selling its credit cards

  • The Reserve Bank of India (RBI) has directed private sector lender HDFC bank to stop selling its credit cards and halt its digital launches on a temporary basis. The RBI directed the bank to stop the launch of digital activities under Digital 2.0 initiative. The move came after customers reported of facing outages in HDFC’s internet banking and mobile banking over the last 2 years.

NABARD and SBI sign MoU to extend concessional refinance facility in Karnataka

  • The Karnataka regional office of NABARD and State Bank of India have signed an MoU to extend concessional refinance facility to the beneficiaries of watershed development and tribal development projects.
  • The MoU aims to benefit 45000 beneficiaries from 260 Farmers Producers Organisations in 28 districts. In addition 8500 beneficiaries from Self Help groups and Joint Liability Groups will be covered.
  • The MoU signed will enable SBI to act as an implementing agency for digitilising the Self Help Groups and uploading data on E-Shakti portal across the state.

ICICI Bank Opens Representative Office in Nepal, First Pvt Sector Lender to Do so

  • ICICI Bank opened its representative office in Nepal’s capital Kathmandu.
  • The representative office will closely work with the domestic banks in Nepal to facilitate investment, trade, payments and treasury business between the two countries.
  • With this foray, ICICI Bank has expanded its footprint to 15 countries, including India.

SPORTS

Virat Kohli fastest to 12000 runs in ODI cricket, surpasses Sachin Tendulkar

  •  Virat Kohli became the fastest player to score 12,000 runs in ODI cricket, surpassing Sachin Tendulkar, after he scored 23 runs against Australia in the third ODI at Canberra.
  • Kohli took 242 innings to reach 12,000 runs while Tendulkar had touched the score in his 300th ODI innings.
  • Kohli has also played 86 Tests and 82 T20Is in which he has scored 7,240 and 2,794 runs, respectively. He has scored more than 21,000 international runs across formats till now.

OBITUARIES

Former French President Giscard d’Estaing passes away

  • Former French President Valery Giscard d’Estaing, who championed European integration and helped modernise French society in the 1970s, has died at the age of 94 after contracting COVID-19.
  • Giscard was elected president in 1974 at the age of 48 to become France’s youngest postwar leader.
  • He was also an ardent Anglophile, and took office a year after Britain joined the European Economic Community.

Rafer Johnson, Olympian and James Bond actor, passes away

  • Rafer Johnson, who is best known for his athletics career and his performance in James Bond movie Licence to Kill, has passed away at the age of 86.
  • Johnson won an Olympic gold medal in the decathlon in 1960, besting the silver medal he earned at the previous Games in 1956.
  • He later became involved in politics and helped to subdue the shooter responsible for assassinating US senator and presidential candidate Robert F. Kennedy in 1968.

IMPORTANT DAYS

International Day of Banks

  • International Day of Banks is observed globally on the 4th of December.
  • The day is celebrated to the recognition of the significant potential of multilateral development banks and other international development banks in financing sustainable development and providing know-how, and also in recognition of the vital role of the banking systems in the Member States in contributing to the improvement of the standard of living.

Indian Navy Day

  • Indian Navy Day is celebrated every year on December 4 to commemorate the attack on the Karachi harbour during the India-Pakistan war in 1971.
  •  On this day, the Indian Navy’s attack on Karachi harbour contributed to the ultimate victory of the Indian Armed Forces over Pakistan.
  • This year the theme of Navy Day is “Indian Navy Combat Ready, Credible & Cohesive”.

 

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