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Top Current Affairs of 11 August 2020 NATIONAL AFFAIRS

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Top Current Affairs of 11 August 2020 NATIONAL AFFAIRS Top Current Affairs of 11 August 2020 NATIONAL AFFAIRS PM Narendra Modi Launched Submarine Cable Connectivity to Andaman & Nicobar Islands (CANI) On August 10, 2020, Prime Minister Narendra Modi inaugurated and dedicate to the Nation, submarine Optical Fibre Cable (OFC) connecting Chennai, Tamil Nau and Port Blair, Andaman & Nicobar Islands (A&NI) through video conferencing. This connectivity will enable delivery of faster mobile and landline telecom services to A&NI, at par with other parts of India. The Submarine OFC cable has been laid at a cost of about Rs 1224 Crore. The foundation stone foundation for 2,312-kilometer Chennai – Andaman and Nicobar Islands (CANI) was laid by PM Narendra Modi on 30th December 2018 at Port Blair. Airtel became the first mobile operator to launch ‘Ultra-Fast 4G’ services in the union territory (UT) of A&NI. PM Launched Financing Facility of Rs.1Lakh crore Under Agriculture Infrastructure Fund & Rs 17000 Cr As 6th Installment of PM-KISAN On August 9, 2020, Prime Minister Narendra Modi launched the Central Sector Scheme (CSS) of financing facility under the Agriculture Infrastructure Fund of Rs. 1 lakh crore via video conferencing. The duration of the scheme is 10 years i.e. from FY2020 to FY2029. A 3% interest subvention and credit guarantee under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for loans up to Rs 2 Crore will be provided to the beneficiaries under this financing facility. PM also released the 6th instalment of funds of Rs. 17,000 crore to 8.5 crore farmers under the Pradhan Mantri Kisan Samman Nidhi Yojna (PM-KISAN) scheme. Piyush Goyal and Pralhad Joshi Dedicated the Railway Museum at Hubballi to the Nation Over Video Conference On 9th August 2020, Piyush Vedprakash Goyal, Union Minister of Railways and Commerce & Industry and Pralhad Joshi, Union Minister of Parliamentary Affairs, Coal & Mines dedicated the Railway Museum at Hubballi to the Nation in the event over a video conference presided by Suresh Angadi Channabasappa, Minister of State for Railways. The Railways Museum at Hubballi is the first of its kind in North Karnataka and the second in the Southern Western Railways after the historic Rail Museum at Mysuru. Def. Minister Rajnath Singh Restricted Import of 101 defence items On August 9, 2020, the Department of Military Affairs (DMA), Ministry of Defence (MoD) decided to restrict import of 101 weapons and military platforms, the embargo on which is planned to be progressively implemented between 2020 and 2024, in order to boost indigenous defence manufacturing on the lines of “Atmanirbhar Bharat” In this regard, the Defence Industry will receive contracts worth almost Rs 4 lakh crore within the next five to seven years. Apart from this, defence ministry has bifurcated the capital procurement budget for 2020-21 between domestic and foreign capital procurement routes. A separate budget head has been created with an outlay of nearly Rs 52,000 crore for domestic capital procurement in FY20-21. PM inaugurated Rashtriya Swachhata Kendra;Launched ‘Gandagi Mukt Bharat’ – Week Long Campaign On August 8, 2020, Prime Minister Narendra Modi inaugurated the Rashtriya Swachhata Kendra (RSK) an interactive experience centre on the Swachh Bharat Mission, at the Gandhi Smriti and Darshan Samiti at Rajghat, New Delhi in the presence of Gajendra Singh Shekhavat, Union Minister of Jal Shakti and Rattan Lal Kataria, Minister of State (MoS) of Jal Shakti. He dedicated the RSK as a permanent tribute to Mahatma Gandhi. ii.He also launched ‘Gandagi Mukt Bharat’, a special week long campaign from August 8, 2020 for swachhata in the run up to Independence Day, during which each day till 15th August will have special swachhata initiatives in urban and rural India to re-enforce the jan andolan for swachhata. IBBI Amended Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 by Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2020. As per the amendment, the three Insolvency Professionals (IP) offered by the interim resolution professional during the process of the appointment of an authorised representative (AR) by the Adjudicating Authority to represent financial creditors in a class, must be from the State or Union Territory, which has the highest number of creditors in the class as per records of the corporate debtor. PCA to Name Mullanpur Stadium After Late Maharaja Yadavindra Singh Punjab Cricket Association (PCA) is set to name its new stadium in Mullanpur, New Chandigarh, Punjab after the late Maharaja Yadavindra Singh. PCA President Rajinder Gupta proposed the idea to name the stadium and it had been approved. About Maharaja Yadavindra Singh: -Maharaja Yadavindra Singh played a test match for India against England in 1934. Maharaja Yadavindra Singh was the father of Punjab Chief Minister Amarinder Singh. He was the 9th and the last Maharaja of Patiala. Central Government Extends the Credit Guarantee Scheme to Large Firms & Self Employed On 8th August 2020, Finance Minister Nirmala Sitharaman announced that the Central Government have extended its Emergency Credit Line Guarantee Scheme (ECLGS), credit guarantee scheme for the micro, small and medium enterprises(MSME), to cover the loans given to the large firms, self-employed professionals and people who have taken a loan for business purpose. BANKING & FINANCE International Financial Corporation to Invest Rs.75 Crore in Endiya Partners Fund II The International Financial Corporation(IFC), a member of the World Bank Group, has committed to invest Rs 75 crore (about USD 10million) in Endiya Partners Fund II. In addition to this, IFC has also committed an additional USD 10 million for direct co- investments. The partnership will provide financial and strategic support to Endiya portfolio companies, resulting in increased access to growth opportunities and sustainable scalability. SBM Bank India Collaborated with InstaReM to Enhance Outbound Remittance Experience from India SBM Bank (India) Limited (SBM Bank India) has collaborated with InstaReM to enhance the existing outbound remittance service offerings from India, including introduction of new remittance corridors, increased frequency of transactions for outbound Transactions and improved delivery timings for transfers. Through this collaboration the users of SBM Bank India and InstaReM can remit money to more markets(over 100 corridors) where InstaReM exists, 65 of which are in real time. NPCI Launched Omni-Channel Loyalty Platform, ‘nth Rewards’ National Payment Corporation of India (NPCI) has launched ‘nth Rewards’, a business intelligence and analytics enabled omni-channel multi-branded loyalty platform. This platform enables users to earn ‘nth’ (denoting infinite possibilities) points through various bank transactions and redeem them instantly on various products, such as e-vouchers, donations, hotel and flight bookings. The platform aims to become a one stop shop for the bank which will enable them to retain and grow their customer base. APPOINTMENTS & RESIGNATIONS Walter Roger Martos Ruiz Becomes New Prime Minister of Peru; Succeeds Pedro Cateriano President of Peru(Republic of Peru) Martin Vizcarra appointed Walter Roger Martos Ruiz, the former defense minister and retired army general, as the country’s new Prime Minister. He succeeds Pedro Álvaro Cateriano Bellido . The swearing-in ceremony took place at the Government Palace in Lima. The president also appointed attorney Luis Inchishategui as head of the Ministry of Energy and Mines. Mohamed Ould Bilal Appointed as Prime Minister of Islamic Republic of Mauritania Mauritania’s President Mohamed Ould Cheikh El Ghazouani has named Mohamed Ould Bilal as the 16th Prime Minister of the Islamic Republic of Mauritania on August 06, 2020. Mohamed Ould Bilal belongs to the political party of Union for the Republic (UPR). He has served as Political Advisor and headed several state agencies. Bilal’s predecessor Ismail Ould Cheikh Sidiya and his entire government resigned on 6th August, 2020 amidst an investigation into high-level corruption charges against them. Capital India Finance Appoints Harsh Kumar Bhanwala as Executive Chairman Financial Services Platform, Capital India Finance Limited (CIFL) has appointed Ex- NABARD Chief Harsh Kumar Bhanwala as its Executive Chairman. Dr. Harsh Kumar Bhanwala took charge as Executive Chairman from August 06, 2020. SCIENCE & TECHNOLOGY IIT Kanpur in Collaboration with Agnys Waste Management Pvt. Ltd Developed Indigenous Seed Balls, ‘BEEG’ for Farmers Indian Institutes of Technology(IIT) Kanpur in collaboration with Agnys Waste Management Private Limited (start-up at IIT Kanpur) developed indigenous seed balls named ‘BEEG’ (Biocompost Enriched Eco Friendly Globule). This will help to safeguard people and farmers in plantations during the COVID-19 times. The initiative is guided by Prof. J. Ramkumar. The initiative provides employment opportunities to unemployed workers and gardeners(due to the COVID-19 lockdown). SPORTS Max Verstappen Wins F1 70th Anniversary Grand Prix 2020 Red Bull’s 22 years old driver Max Emilian Verstappen from Netherland had won F1 70th Anniversary Grand Prix at the Silverstone Circuit, Silverstone, United Kingdom and became the first non-Mercedes driver to win a race in the 2020. This race was officially called as Emirates Formula 1 70th Anniversary Grand Prix 2020. The race was the fifth round of the rescheduled 2020 Formula One World Championship. Lewis Hamilton finished second and Valtteri Bottas finished third. 2020 British Grand Prix (officially known as the Formula 1 Pirelli British Grand Prix 2020) which held on Aug 2,2020 was the fourth round of the 2020 Formula One World Championship.It was the first of two serial Formula One races with the 70th Anniversary Grand Prix.
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