BrainBuzz Academy Banking Current Affairs - 17-Apr-20 TABLE OF CONTENTS A.. IInternatiionall Rellatiions 1.. Exports declliined by 34..57% iin March & 4..78% iin FY20;; Q1 FY21 remaiin slluggiish 2.. Asiia to stallll at 0% growth iin 2020 for 1st tiime iin 60 years:: IIMF 3.. IInternatiionall Weiightlliiftiing FederatiionIIWF Presiident Tamas Ajjan resiigns B.. Natiionall 1.. Narendra Siingh Tomar chaiirs the Natiionall Conference on Khariif crops 2020 by viideo conference 2.. MS Sahoo Panell proposed Natiionall IInstiitute of Valluers for iinstiitutiionall framework for valluers 3.. ““Suraksha Stores”” and ““Suraksha Ciirclle”” under PPP mode amiid COVIID--19 llockdown by GOII 4.. HDFC Bank llaunches Safety Griid campaiign to reiiterate sociiall diistanciing 5.. Centrall Government unveiills PUSA decontamiinatiion,, saniitiiziing tunnell C.. Sports 1.. BCCII suspends IIPL 2020 iindefiiniitelly due to Coviid--19 pandemiic D.. Deaths 1.. Comedy Cllassiic ‘‘Khubsoorat’’ actor Ranjjiit Chowdhry passed away at 65 iin the US E.. Appoiintments and Resiigns 1.. IIndiia’’s Liimiited--overs viice--captaiin Rohiit Sharma becomes brand ambassador for ““CriicKiingdom”” 2.. Ajjay Mahajjan appoiinted MD & CEO of CARE Ratiings 3.. Chiina relleases 4th Asiian Para Games 2022 mascot as ‘‘Feii Feii’’ biird 4.. Viiswanathan Anand jjoiins WWF IIndiia as ambassador F.. IImportant Days 1.. Worlld Haemophiilliia Day:: 17 Apriill G.. Other States 1.. Chhattiisgarh govt llaunches ‘‘Cghaat’’ websiite for home delliivery Internatiionall Rellatiions Exports declined by 34.57% in March & 4.78% in FY20; Q1 FY21 remain sluggish
• In accordance with the figures released by the Ministry of Commerce and Industry, Indian exports of goods decreased by 34.57% to $21.41 billion due to COVID-19 spread which has interrupted the production and supply chains. • The overall export for FY 2019-20 declined by 4.78% to $314.31 billion. • This is likely to be the steepest fall in monthly exports since 2008-09, when shipments dipped by 33.3% in March 2009. • The COVID-19 not only affected exports but it impacted imports also as in March 2020 they were severely declined by 28.72% to $31.16 billion which resulted in overall FY 19-20 import declined by 9.12% to $467.19 billion. • The downward revision in March was the steepest decline since November 2015, when imports 9.12% to $467.19 billion. • The downward revision in March was the steepest decline since November 2015, when imports declined by 30.26%. Fallll iin exports iin March 2020: • Petroleum products, readymade garments, engineering goods, gems and jewellery, leather products, coal and other minerals, plastic and linoleum, carpets and handicrafts. Export of agricultural commodities such as oil meals, meat and poultry, dairy products, tea and other cereals also posted a steep decline during the month. Fallll iin export iin FY 19-20: • Petroleum (8.10 per cent), handicrafts (2.36 per cent), cotton yarn/fabrics (10.67 per cent), engineering (5.87 per cent), gems and jewellery (11 per cent) and leather (9.64 per cent). Tea, coffee, rice, tobacco and cashew sectors too recorded negative growth in 2019-20. Fallll iin iimport iin FY 19-20: • Gold, silver, electronic goods, transport equipment, machine tools, iron and steel, coal, petroleum and chemicals. About Miiniistry of Commerce and Industry: Uniion Miiniister : Piyush Goyal Miiniister of State (MoS) Commerce and Industry : Hardeep Singh Puri, Som Parkash Asia to stall at 0% growth in 2020 for 1st time in 60 years: IMF
• International Monetary Fund’s (IMF) report titled ‘COVID-19 Pandemic and the Asia-Pacific Region: Lowest Growth Since the 1960s’ stated that Asia will stall at 0% growth in 2020 for the 1st time in 60 years which includes the Global Financial Crisis (4.7%) and the Asian Financial Crisis (1.3%). • It also stated that the region will be “severe and unprecedented“ due to the impact of the pandemic & Asia is still doing better than other regions in terms of activity. • The global economy is expected to shrink by 3%, which is the worst recession since the Great Depression & Asia’s key trading partners are expected to shrink sharply including the United States by 6 % and Europe by 6.6 %. • It expects a 7.6% expansion in Asian economic growth in 2021 on the assumption that it contains a successful policy implementation with a highly uncertain outlook. • Downward revision are considered ranging from 3.5% points in the case of Korea to over 9% points in the case of Australia, Thailand and New Zealand. • IMF in its latest edition has placed India & China as the fastest-growing emerging economies of the world with a positive growth rate in 2020, where China’s economy is expected to grow by 1.2% in 2020, from 6.1% growth (2019) & is expected to rebound later in 2020, with growth expected to rise to 9.2% 2021. About Internatiionall Monetary Fund (IMF): About Internatiionall Monetary Fund (IMF): Formatiion: 27 December 1945 Purpose: Promote international monetary co-operation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties. Headquarters: Washington, D.C. U.S. Members: 189 countries Managiing Diirector: Kristalina Georgieva Chiief Economiist: Gita Gopinath International Weightlifting FederationIWF President Tamas Ajan resigns
• International Weightlifting Federation (IWF) President Tamas Ajan, 81 years old, resigned in the wake of allegations of corruption and doping violations. The IWF Executive Board accepted the resignation of the IWF president. Ursula Papandrea will be the acting president of IWF. • He is from Hungary, had been at the IWF since 1976, serving 24 years as general secretary and 20 years as president. • The IWF thanks Tamas Ajan for more than 4 decades of service to weightlifting and most notably for his work in recent years to ensure an anti-doping programme which meets the standards of the IOC (International Olympic Committee) and WADA (World Anti-Doping Agency). About IWF: Headquarters : Budapest, Hungary.
Natiionall Narendra Singh Tomar chairs the National Conference on Kharif crops 2020 by video conference
• The Union Minister of Agriculture and Farmers’ Welfare, Shri Narendra Singh Tomar has said that all States should aim to achieve the kharif target and doubling of farmers’ income should be taken up in mission mode. • Addressing the National Conference on Kharif crops 2020 through video conference, he assured the States that the Government of India will remove any obstacles that the States are facing. States that the Government of India will remove any obstacles that the States are facing. • The main aim of the National Kharif Conference was to discuss various issues and list out steps in consultation with the States about preparedness for Kharif cultivation in view of the lockdown situation. • Shri Tomar said that the extraordinary situation due to the Coronavirus has to be met with a fighting spirit by the Agriculture sector and everyone has to rise to the occasion and perform. • He said the Prime Minister Shri Narendra Modi has ensured that “Goan, Garib aurKisan” (Village, Poor and Farmers) do not suffer during this crisis. Shri Tomar urged the states that the two schemes, - PM Fasal Bima Yojana and Soil Health Card scheme, should be explained to each farmer. • All India Agri Transport Call Centre has been started to ensure that Agriculture is not affected due to the lockdown. He also asked them to use e-NAM extensively. • The State Action Plan (SAP) format for advance planning and implementation of the National Food & Nutritional Security Mission (NF & NSM) has been simplified and reduced about 1 page so that states can prepare SAPs and then submit them to the Government after the approval of the competent authority. • Under the PM-AASHA scheme the Minimum Support Price (MSP) will be fixed at a level at least 2 times the cost of production also,“ Per drop more crop” being done under the Pradhan Mantri Krishi SinchayeeYojana(PMKSY) • Food grain production target at record 298.0 million tonnes for 2020-21 crop year The target of food grains production for FY 2020-21 has been fixed at 298.0 million tonnes, whereas in FY 2019-20 it was anticipated to be about 292 million tonnes against the expected 291.10 million tonnes mainly due to enhancement of area coverage and productivity of various crops. MS Sahoo Panel proposed National Institute of Valuers for institutional framework for valuers
• The government-appointed 8 member committee of experts headed by IBBI (Insolvency and Bankruptcy Board of India) Chairperson M S Sahoo has submitted a report on “valuation professionals” and proposed an institutional framework for valuers by setting up National Institute of Valuers (NIV). • In this regard the committee has submitted its report to the Government of India on March 31, 2020 along with Draft Valuers Bill, 2020, recommending to establish a National Institute of Valuers, which is now open for comments till May 14, 2020. • It should be noted that a valuer is a professional who carries out inspections in order to help determine the current market value of property and/or land. • NIV will act as a statutory body responsible for the development and the regulation of the valuation profession in India and registration and regulation of valuers, valuer institutes and valuation professional organisations (VPO). • An Establishment of dedicated cadre of valuers is needed, who would render valuation services, after registration with the NIV. • The proposed cadre of valuers (like chartered accountants, etc) will include both the current • The proposed cadre of valuers (like chartered accountants, etc) will include both the current practitioners and freshers wishing to have a career in valuation. • The members of the panel included Presidents of the three professional institutes – ICAI, ICSI and ICoAI; B Sriram, former MD & CEO of IDBI Bank; Prof. R Narayanaswamy, Professor, IIM Bangalore and Ajay Bahl, Founding Partner, AZB & Partners, a law firm. “Suraksha Stores” and “Suraksha Circle” under PPP mode amid COVID-19 lockdown by GOI
• In order to provide daily essentials to Indian citizens during the extended lockdown, the government will set up 20 lakh retail shops through public-private partnership (PPP) namely ‘Suraksha Stores’ across India in the next 45 days. • In this regard, the neighbourhoodKirana (general) stores will be converted into sanitized retail outlets selling daily essentials while adhering to safety norms such as social distancing to control the spread of the novel coronavirus. • More than 50 top private Fast-moving consumer goods (FMCG) companies have been approached to implement this plan, which seeks to ensure that proper protocol is followed in the entire supply chain. • The ‘Suraksha Store’ will not only be for groceries but it also provides consumer durables, apparel and salons. • The Consumer Affairs Ministry is working on creating ‘Suraksha Circle’ where lead manufacturing plants will help their business partners and smaller factories to ensure a safe environment across the product supply chain. • Each lead manufacturing plant is expected to adopt 10 SMEs (small and medium enterprises) and one village in order to achieve the target to bring 50,000 SMEs and 5,000 communities under Suraksha Circle • An online training certification programme will be created for Suraksha Stores and Suraksha Circle to ensure awareness about COVID-19 protocols for the supply of essential commodities as per the Bureau of Indian Standards (BIS). HDFC Bank launches Safety Grid campaign to reiterate social distancing
• HDFC Bank today launched its #HDFCBankSafetyGrid campaign to encourage and reinforce • HDFC Bank today launched its #HDFCBankSafetyGrid campaign to encourage and reinforce #socialdistancing. • Using the outer grid of HDFC Bank logo that is synonymous with trust, the Bank has created physical markers on the ground to help people maintain the World Health Organisation (WHO) prescribed “social” distance while waiting in queue at a shop or an establishment. • After a successful pilot in Kolkata, the Safety Grid campaign has been launched in Mumbai, Delhi, Bengaluru, Kolkata, Hyderabad, Pune, Chandigarh and Bhubaneswar. • ‘The Safety Grid’ will be painted in front of the space leading to various retail outlets such as pharmacies, grocery stores, and ATMs, among others. • Each grid will be placed at an optimal WHO prescribed distance of 1 meter from each other. • “The Safety Grid” will be implemented at over 4,000 essential services stores across the 8 cities.So far, it has been implemented at over 1,750 essential services stores. About HDFC: Headquarters : Mumbai, Maharashtra Chaiirman : Deepak S. Parekh Central Government unveils PUSA decontamination, sanitizing tunnel
● Minister of State (MoS) for Agriculture Kailash Choudhary inaugurated a “PUSA decontamination and sanitizing tunnel” in Delhi and was developed by the government research body ICAR (Indian Council of Agricultural Research). ● The sanitization protocol includes hand washing with foot operated soap and water dispenser and fogging in a sanitizing tunnel for 20 seconds. ● The tunnel uses QAC (Quaternary Ammonium Compounds) at a concentration of 0.045 per cent, which is recommended by the health department. ● ICAR Director General Trilochan Mohapatra and IARI (Indian Agricultural Research Institute) Director A K Singh were also present at the event. About Miiniistry of Agriicullture: Headquarters : Krishi Bhavan, New Delhi. Cabiinet Miiniister : Narendra Singh Tomar.
Sports BCCI suspends IPL 2020 indefinitely due to Covid-19 pandemic • The Board of Control for Cricket in India (BCCI) has decided to postpone the IPL 2020 tournament indefinitely owing to the global coronavirus pandemic. • All the eight franchises were informed of the decision by IPL COO Hemang Amin. • The tournament’s stakeholders including franchises and the players will now be facing a financial setback due to the event’s suspension. • According to the report, eight franchises bought a total of 62 players spending ₹140.30 crore overall. • The 2020 Indian Premier League was scheduled to be the thirteenth season of the IPL About BCCI : Founded: 1928 Headquarters:Mumbai, India CEO:Rahul Johri Presiident : S aurav ganguly
Deaths Comedy Classic ‘Khubsoorat’ actor Ranjit Chowdhry passed away at 65 in the US
• Actor Ranjit Chowdhry, best known for his roles in Baton Baton Mein, Mississippi Masala and Bollywood/Hollywood among more, passed away. • Son of renowned theatre actor Pearl Padamsee, Ranjit Chowdhry made his silver screen debut with KhattaMeetha in 1978. • He went on to star in Hindi films like Baton Baton Mein, Khubsoorat, Bandit Queen and Kaante among more. • Ranjit found fame overseas starring in crossover films like Lonely in America, Mississippi Masala, Bollywood/Hollywood, Fire and Kama Sutra: A Tale of Love. He also featured in US shows like The Office and Prison Break.
Appoiintments and Resiigns India’s Limited-overs vice-captain Rohit Sharma becomes brand ambassador for “CricKingdom” • Vice-captain of Indian cricket team Rohit Sharma was named brand ambassador of “CricKingdom” a Dubai-based cricket coaching academy which provides a platform for online coaching after the global COVID-19 pandemic subsides. • Provides support on booking of coaches, ground/nets with the management of academies. • They are trying to merge the modern scientific training methods with the time-tested theories of the legends in the game. About CriicKiingdom: • World’s first online platform to connect cricket players, coaches, students, academies and facilities. Co-founder/CEO : Chetan Suryawanshi Co-founder/CTO : Sesha Sayana Managiing Diirector : Prashant Naik Mentor :Dhawal Kulkarni Ajay Mahajan appointed MD & CEO of CARE Ratings
• CARE Ratings has appointed Ajay Mahajan as the Managing Director & Chief Executive Officer for a period of 5 years commencing from 15 April 2020 up to 14 April 2025. • Mahajan started his career with Bank of America in 1990 and went on to become the MD and Country Head of Global Markets Group. • CARE Ratings Limited is a credit rating agency. • The Company is engaged in providing financial services other than securities dealing activities. About CARE Ratiings: Headquarters :Mumbai. China releases 4th Asian Para Games 2022 mascot as ‘Fei Fei’ bird • The organizing committee of Hangzhou Asian Games, has released ‘Fei Fei’ the bird as an official mascot for 4th Asian Paralympic Games 2022, which is scheduled to be held in Hangzhou, China from 9 – 15 October 2022. • The design inspiration of “Feifei” comes from the motif of the ‘Divine Bird’ in the Liangzhu Culture and represent both Hangzhou city’s heritage and its innovation in technology. • The first fei’ of the mascot represents the birds flying, implying inclusiveness, respect, and fraternity of human society, whereas the 2ndfei’ represents the mental tenacity of the athletes with disabilities pursuing dreams and reaching beyond themselves. • The bird’s body features “i” (intelligence) on its crown, which is a symbol of intelligence and wisdom, and it also shows the characteristics of Hangzhou’s Internet city. • It also has 45 dots circle on its chest which represents the joyful gathering of Asian Paralympic Committee’s (APC) members, while the Games logo is in the centre. • It flashes a blue light when exercising & happy. About Asiian Parallympiic Commiittee: Headquarters : Abu Dhabi, United Arab Emirates (UAE) Presiident : Majid Rashed Viswanathan Anand joins WWF India as ambassador
• WWF India is celebrating its 50 years of conservation in India and there can be no better occasion to have Padma Vibhushan Viswanathan Anand join the WWF India family to lend his support to conservation and protection of the environment. • A five-time world champion and known popularly as the ‘Lightning Kid’, Anand will be the torch bearer for WWF India’s young environment champions, inspiring them to become champions of conservation. • In the midst of the coronavirus pandemic governments, development organisations, corporates and individuals around the world are doing their part to prevent the spread of the disease. • Our children are the future and imparting the importance of conservation at a young age will ensure a healthy and vibrant world for them. It is necessary that young people develop a firm ecological mindset and use it to overcome today’s environmental challenges with a proactive attitude and a strong commitment. About WWF : WWF Founded: 29 April 1961. Headquarters of WWF: Gland, Switzerland. WWF Founded: 29 April 1961. Diirector of WWF: Marco Lambertini. Diirector of WWF: Marco Lambertini.
Important Days World Haemophilia Day: 17 April
• World Haemophilia Day is observed every year on 17 April. • The day is observed to raise awareness regarding the disease and other hereditary bleeding disorders. • 17 April is also the birthday of Frank Schnabel, a businessman born with severe haemophilia who was the founder of the World Federation of Haemophilia (WFH). • Haemophilia is a mostly inherited genetic disorder that impairs the body's ability to make blood clots. • 2020 Theme: ‘Get + involved’
Other States Chhattisgarh govt launches ‘Cghaat’ website for home delivery
• Chief Minister of Chhattisgarh Bhupesh Baghel, has recently launched a website ‘Cghaat’ to provide home delivery of fruits and vegetables during the lockdown. The website has been designed and developed by Chhattisgarh government’s agency Chips. • The vendors of fruits and vegetables, who have an interest in providing services through this portal can register online • Cghaat service is out there free from charge to vendors. Other essential items like milk, groceries, forest-produce, etc are set to be delivered soon through the portal. • The website 'cghaat.in', has been developed by Chhattisgarh government's agency Chips. • Customers interested in purchasing from the portal can also register free of charge and choose the vendor of their choice. • The portal will come in to help people in maintaining physical distancing and will reduce the crowding at the shops. About chattiisgarh : Chiief Miiniister : Bhupesh Baghel. Chiief Miiniister : Bhupesh Baghel. Governor :AnusuiyaUikey. State aniimall : wild water buffalo State biird : common hill myna State tree : sal tree State fllower : ladys slipper State dance : panthi dance State sport : archery Natiionall park : pameda wild life sanctuary