Banking Current Affairs - 20-Apr-20 TABLE of CONTENTS A

BrainBuzz Academy Banking Current Affairs - 20-Apr-20 TABLE OF CONTENTS A.. IInternatiionall Rellatiions 1.. Eros IInternatiionall & Hollllywood’’s STX Entertaiinment to merge allll share-- 1st of iits kiind 2.. G20 Heallth Miiniisters meet:: Dr.. Harsh Vardhan hiighlliights IIndiia’’s graded COVIID--19 response pllan B.. Natiionall 1.. Niirmalla Siitharaman attends the 101st Devellopment Commiittee Meetiing 2.. Governament iincreases lloss coverage for miicro lloan defaullts to 75% from 50% earlliier 3.. Uniion miiniister Prahlladsiinghpatell llaunches the Natiionall lliist of iintangiiblle cullturall heriitage of IIndiia iin New Dellhii 4.. Heallth Miiniistry formullated collour codes for Lockdown 2..0 to manage COVIID--19 pandemiic 5.. Rajjasthan cllaiimed to be Fiirst IIndiian state to carry out Rapiid Testiing for Coviid--19 6.. Centre Government relleases 7,,300 crore rupees to State & UTs under MGNREGS 7.. 2nd IIndiian iinstiitute to decode COVIID--19 genome sequence;; 3 new mutatiions found :: Gujjarat’’s GBRC 8.. New Draft of Ellectriiciity Amendment Biillll iintroduced by Power Miiniistry 9.. Diigiitall diirectory tiitlled ““Coviid FYII”” llaunched 10.. GoII llaunches dashboard for combatiing and contaiiniing Coviid--19 C.. Sciience and Technollogy 1.. NASA wiillll llaunch astronauts from US soiill for the fiirst tiime iin nearlly a decade,, wiith hellp from SpaceX 2.. CSIIR--CFTRII’’s proteiin--enriiched biiscuiits reach COVIID--19 patiients D.. Sports 1.. BCCII Creates ''Team Mask Force'' E.. Deaths 1.. Oscar--wiinniing aniimator and fiillmmaker Gene Deiitch passes away F.. IImportant Days 1.. UN Chiinese Language Day:: 20 Apriill G.. Other States 1.. Punjjab devellops Chatbot wiith Facebook to answer queriies on COVIID--19 Internatiionall Rellatiions Eros International & Hollywood’s STX Entertainment to merge all share- 1st of its kind

• 1st of its kind deal, where Indian movie producer and distributor ErosInternational (which is also the holding company of the Lulla’s-promoted Eros Group) a NYSE-listed announced an all-share merger with 6 year old, privately held Hollywood’s STX Entertainment to create an equally-held global entertainment company with a value of USD 1 billion. • The existing shareholders of Eros & STX will hold each about 42% of the merged entity &the while • The existing shareholders of Eros & STX will hold each about 42% of the merged entity &the while the remaining 15-odd% will be with the new shareholders. • Fresh capital of USD 125 million will be raised from STX’s existing investors, which includes TPG, Hony Capital and Liberty Global, already over USD 75 million commitments have been received & the remaining will be tied-up before merger’s execution, which is targeted to close by June-end. • Eros issues value rights to STX’s shareholders, which will in the due course be converted into shares before the merger & the amalgamation will have no impact on the group’s listed on Indian exchange & there are also USD 50 million operational synergies across global operations. • The merged entity’s executive co-chairman will be Kishore Lulla& the co-chairman and chief executive will be Robert Simonds of STX. • The merger will bring together talent from Bollywood and Hollywood, resulting in collaboration on projects and jointly accessing China’s mega market. About Eros: Headquarters : Mumbai, Maharashtra Executiive Chaiirman & Group Chiief Executiive Offiicer (CEO) : Kishore Lulla About STX Entertaiinment: Headquarters : Burbank, California Chaiirman &CEO : Robert Simonds G20 Health Ministers meet: Dr. Harsh Vardhan highlights India’s graded COVID-19 response plan

• Union Health Minister Dr. Harsh Vardhan highlighted India’s “pre-emptive and pro-active approach” to combat COVID-19 pandemic during the G20 Health Ministers virtual meeting on April 19, 2020. • Dr. Harsh Vardhan said that the global health crisis being witnessed globally has created an opportunity to dive deep into the nature of what connects us all, while simultaneously providing the collective strength & wisdom to accomplish the unthinkable. • The global community have faced and successfully tackled threats by a collective sense of purpose, supporting and collaborating. • Some nations- Japan, Singapore and South Korea have fared well, others are still struggling to deal with the outbreak. • The scale of impact is unprecedented and therefore, calls for cooperation between nations to attain normalcy. • India’s five-fold approach to combat COVID-19 • Dr. Harsh Vardhan reiterated how India has successfully tackled public health emergencies of international concern and pandemics in the past as well. ♦ Maintaining a continuous situation awareness ♦ Pre-emptive and pro-active approach ♦ Graded response as per continuously evolving scenario ♦ Pre-emptive and pro-active approach ♦ Graded response as per continuously evolving scenario ♦ Inter-sectoral coordination at all levels ♦ Creating a people’s movement to combat COVOD-19 G20 (Group of Twenty): Purpose: Bring together systemically important industrialized and developing economies to discuss key issues in the global economy. Formatiion: 26 September 1999 Present Chaiirman: Saudii Arabiia Kiing: Salman bin Abdulaziz Al Saud (2020) Members: 20 (Membership of the G20 consists of 19 individual countries plus the European Union. 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.) Summiits: 1st - Washington, USA, 2008; 14th - Osaka, Japan, 2019; The fifteenth meeting of Group of Twenty (G20) will convene from 21-22 November 2020, in Riyadh, Saudi Arabia; 16th (2021) - Bari, Italy; 17th (2022)- New Delhi, India.

Natiionall Nirmala Sitharaman attends the 101st Development Committee Meeting

• Union Finance Minister Nirmala Sitharaman attended the 101st meeting of IMF-World Bank’s Development Committee. The Development Committee meeting of World Bank-International Monetary Fund was held via video-conferencing • IMF chief Kristalina Georgiev said that the World is headed for 'severe recession' in 2020. • Agenda of the meeting was to evaluate and discuss the impact of COVID-19 and the ‘Great Lockdown’ announced across the globe by major economies of the world as a precautionary measure to curb its spread. • Financial experts also discussed the economic response for the COVID-19 health emergency and the debt incentives that needs to be taken in order to bring the world economy back on track. • One of the key highlights of the IMF-World Bank’s Development Committee meeting was the statement given by the IMF chief Kristalina Georgiev, hinting at a severe global recession in 2020 in the wake of COVID-19 pandemic. • IMF and World Bank also discussed ‘major debt initiative’ which is an International call for action in Support of IDA countries About IDA: • It is governed by the Board of Governors of the World Bank, aims to reduce poverty by providing loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions. • It was launched on September 24, 1960. Governament increases loss coverage for micro loan defaults to 75% from 50% earlier

• According to the amendment of Credit Guarantee Fund for Micro Units (CGFMU) scheme as notified by the ministry of Finance states that the coverage of lender’s loss in case of loan default is increased to 75% from earlier 50%. • The aim of the amendment is to incentivise lending to micro businesses which bear the impact of coronavirus outbreak & the lockdown. • Lenders can pay a fee for the portfolio of loans they want to cover under the guarantee, which enables them to lend easily while improving profitability • As a relief to borrowers, the personal assets of the borrower will not be included in the loss calculation and will be assured that no collateral will be enforced if the loan account turns bad. • The lender’s burden under the scheme has reduced from the first 5% of the amount in default to 3%. • The loans are sanctioned to Self Help Groups (SHGs) between 10 lakhs and 20 lakhs during FY 2020-21 under the scheme, where the 1st loss guarantee is Nil & the 2nd is 75% per annum in subsequent years • The scheme was announced in April 2016 covering microloans up to Rs 10 lakhs extended under the Pradhan Mantri Mudra Yojana. Union minister Prahladsinghpatel launches the National list of intangible cultural heritage of India in New Delhi

• Prahlad Singh Patel, the Union Minister for Culture, Independent Charge, launched the National List of Intangible Cultural Heritage (ICH) of India in New Delhi with the aim to create awareness about the various intangible cultural heritage sites from different states of India at national and international level and ensure their protection. • India houses a repository of unique Intangible Cultural Heritage(ICH) traditions, 13 of which have also been recognized by UNESCO as Intangible Cultural Heritage of Humanity. • The National ICH List is an attempt to recognize the diversity of Indian culture embedded in its • The National ICH List is an attempt to recognize the diversity of Indian culture embedded in its intangible heritage. • This initiative is also a part of the Vision 2024 of the Ministry of Culture, has been built in collaboration with Sangeet NatakAkademi (SNA) and Indira Gandhi National Centre for the Arts (IGNCA) About Intangiiblle heriitage: • In 2003, the General Assembly of UNESCO adopted the Convention on the Protection of Intangible Heritage as an international treaty and recognized that cultural heritage includes not just tangible places, monuments and objects, but also traditions and vibrant expressions. Health Ministry formulated colour codes for Lockdown 2.0 to manage COVID-19 pandemic

• The Ministry of Health and Family Welfare (MoHFW) formulated a new set of guidelines for the nationwide lockdown-2.0 or Smart Lockdown, which started from 20th April 2020 and continues till May 3, 2020. • It decided to divide all Indian districts into hotspots (red zones); non-hotspots (orange zones) and green zones on the basis of absolute number of cases and the speed of growth in cases. • Any district reporting more than six cases classified as hotspot district or red zone. • The new guidelines have allowed partial economic activities in selected Orange and green Zones adhering to the protocol of social distancing while red zones will continue to have the current lockdown measures. • A house with positive cases or a cluster with positive cases is marked as the epicentre of the containment zone with only essential services available. • Also, a buffer zone is marked where people with severe and acute respiratory illnesses (SARI) are checked and monitored. Rajasthan claimed to be First Indian state to carry out Rapid Testing for Covid-19

• Rajasthan became the first state in the country to carry out Rapid Testing for Covid 19. State’s urban primary health centre of TopkhanaDesh (also known as Jaju Dispensary) in Jaipur started rapid tests primary health centre of TopkhanaDesh (also known as Jaju Dispensary) in Jaipur started rapid tests at 5pm where 52 persons were tested and all were found COVID-19 negative. • This test will be done at a large scale to assess the prevalence of Covid 19 in hotspots or red zones. • Apart from this, Polymerase chain reaction (PCR) tests or laboratory tests will continue to be done in acceleration in the containment zones all over Rajasthan. • This test requires a drop of blood just like diabetes a test and gives instant results. Though this is not a confirmatory test but helps in quick isolation of person tested COVID-19 positive to prevent spread.mbal About Rajasthan: Chiief miiniister : Ashok Gehlot Governor: Kal raj Mishra State aniimall : camel State biird : great indian bustard State fllower : tecomella State tree : prosopis cineraria State sport : basket ball State dance : ghoomar Natiionall park :Ranthombore national park ,keoladeo , darrah ,cha Centre Government releases 7,300 crore rupees to State & UTs under MGNREGS

• The Centre Government has released 7,300 crore rupees to the States and Union Territories (UT) under Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) to liquidate pending dues of last financial year but also the wages dues for the first fortnight of 2020-21. • Rural Development Minister Narendra Singh Tomar conducted a detailed review of all flagship schemes of the Rural Development and said that MGNREGS works in Non-Containment Areas with adequate focus on social distancing, must be resumed in an efficient manner. • More than 93,000 SHG members are engaged in manufacturing of cotton protective face covers as well as sanitizers and are also running community kitchens across the country for the vulnerable sections of rural population. • Shri Tomar noted that under Pradhan Mantri Awaas Yojana (Gramin), against a total budget of Rs.19,500 crore, Rs.800.63 crore has been released to the States. • He advised that around 40 lakh beneficiaries of PMAY(G) who have received second and third instalment of funds must be assisted in a proactive manner to quickly complete their housing units. 2nd Indian institute to decode COVID-19 genome sequence; 3 new mutations found : Gujarat’s GBRC mutations found : Gujarat’s GBRC

• Government -run Gujarat Biotechnology Research Centre (GBRC) have succeeded in decoding the entire genome sequence of the novel coronavirus, and identified its three new mutations • The findings will help in developing medicines or vaccines needed to stop the spread of the deadly virus, which has wreaked havoc across the globe. • The Gandhinagar-based GBRC has become the second institute in India after the National Institute of Virology (NIV) in Pune to decode the entire genome sequence of the virus. • The Gujarat government-run GBRC has become the second institute after the Pune-based NIV to decode the entire genome sequence of COVID-19 virus. • GBRC has found nine mutations in its genome sequence. However, six of the mutations were already found by other research institutes globally but the three new mutations will help in developing medicines or vaccines needed to stop the spread of the deadly virus. • The first genome sequence of the COVID-19 virus was found by Chinese Centre for Disease Control and Prevention (China CDC) in Bejing, China on January 10, 2020. • As per finding,the virus mutates (changes its form) in order to survive in different situations. It mutates when medicines try to control it. • It should be noted that COVID-19 biological macro molecule is RNA (ribonucleic acid) not DNA (deoxyribonucleic acid). • 100 Positive COVID-19 samples have been collected in different parts of Gujarat. After analyzing their genome a strategy will be formed to curb the COVID-19 virus. About GBRC Diirector : Chaitanya G. Joshi New Draft of Electricity Amendment Bill introduced by Power Ministry

• The fourth draft of the Electricity (Amendment) Bill since 2014 has been introduced by the Ministry of Power. • The amendment seeks to set up an Electricity Contract Enforcement Authority (ECEA) with a power of civil court that will settle the disputes between power generation companies (gencos) and power distribution companies (discoms). • ECEA will have a power of judgment on the matters related to the purchase or sale of power, performance of contracts between gencos and discoms. • The ministry has asked for the comments of the stakeholders on the bill within three weeks from performance of contracts between gencos and discoms. • The ministry has asked for the comments of the stakeholders on the bill within three weeks from April 17, 2020. The decision on ECEA can be challenged at the Appellate Tribunal of Electricity (APTEL) and at the Supreme Court. • The Bill has been condemned and seen as the Government’s attempt to privatizing the power sector. • The first draft of the bill was bought in 2014 in Lok Sabha by the ministry mentioning the separate carriage and contend electricity distribution business. • The amendment bill could also have given consumers the option to change their service providers. • The bill was lapsed after the dissolution of Lok Sabha. The second and third draft was circulated in 2018 and 2019. • The purpose of the bill will be to privatisediscoms and ensure payments to the private generator. • The proposed amendments in the acts will increase the electricity tariff. • The bill will also provide that the Electricity Act is applicable to the entire country, which will include Union Territories of Jammu & Kashmir and Ladakh. • The draft law also provides the introduction of power distribution franchisee. It will not require a separate license from the state and providing information will be sufficient. • The bill states that the cross (power)border trade will cover the export or import of electricity from Indian and any other country. • It talks of creating National Renewable Energy Policy by the central government in consultation with the state government. • There will be additional roles to the National Load Dispatch centre. It will include the dispatch and scheduling of power across the country as per the contracts. • The bill states that there will be no scheduling or dispatch of electricity unless there is payment security. • The bill gives the center as well as state power regulators that will specify transmission charges. Earlier it was only with the central commission. Digital directory titled “Covid FYI” launched

• “Covid FYI” is a one-stop digital directory containing information of all COVID-19 related services and helplines released by official sources. • This platform has been made by an international team of 16 members led by Simran Soni, a student of Indian Institute of Management Kozhikode. • Covid FYI a one-stop COVID-19 platform for accessing emergency services from official government sources. • Covid FYI platform has been developed to bring the right information to the right people, ensuring authenticity and credibility of the information by providing only official information from Government organisations. GoI launches dashboard for combating and containing Covid-19

• Government of India has launched a dashboard containing information of human resources for combating and containing Covid-19. • This dashbaord has been created as an online portal on the website covidwarriors.gov.in. • This portal is a compilation of data of doctors including AYUSH doctors, nurses and other health care professionals. It also constitutes information of volunteers from Pradhan Mantri Kaushal Vikas Yojana (PMGKVY), Nehru Yuva Kendra Sangathan (NYKs), NCC NSS, ex Servicemen etc. So, the online portal contains state wise as well as district wise availability of the human resources from various groups including the contact details of the nodal officers. • The ground level administration at state, district or municipal levels will use this online portal to prepare Crisis Management/Contingency Plans considering the available manpower, in coordination with nodal officers for each group. • The volunteers from these groups can perform various tasks like enforcing social distancing at various places such as banks, ration shops, mandis and for providing help to elderly, divyang and orphanages.

Sciience and Technollogy NASA will launch astronauts from US soil for the first time in nearly a decade, with help from SpaceX

• NASA and SpaceX are targeting May 27 for the launch of Demo-2, the first launch of NASA astronauts from the U.S. since 2011 and the first crewed launch for Elon Musk’s space company. • As its name implies, Demo-2 will be the second time SpaceX launches its Crew Dragon capsule to the International Space Station. But, unlike Demo-1 last year, this time two astronauts will be on board. • NASA astronauts Bob Behnken and Doug Hurley will be strapped into a SpaceX Crew Dragon capsule that is sitting on top of a Falcon 9 rocket. • The Demo-2 mission will represent a major milestone for Musk’s SpaceX in its goal to begin regularly flying people to space. The company has been launching spacecraft, satellites and cargo since its founding in 2002 but never humans. About NASA : Founded: 29 Jul 1958 Headquarters:Washington, D.C., United States SpaceX : Founded: 06 May 2002 Headquarters:Hawthorne, CA CEO: Elon Musk Founder: Elon Musk CSIR-CFTRI’s protein-enriched biscuits reach COVID-19 patients

• The Mysuru-based CSIR-Central Food Technological Research Institute (CRTRI) has made available high-protein biscuits to the COVID-19 patients undergoing treatment in the All India Institute of Medical Science (AIIMS), New Delhi. • CFTRI supplied 500 kg of high-protein biscuits and 500 kg of high-protein rusks to the Dietetics department of AIIMS to supply to the patients. • The biscuits contain 14% of protein while usual biscuits contain around 8-9% protein. • A 100-g packet of biscuits clearly pack a punch with its energy quotient of 400 kcal and its nutritional value: carbohydrate (63.2 g), protein (14 g), fat (17.1 g) and minerals (1.2 g). • The biscuits are being manufactured in Noida, Uttar Pradesh, by Seven Seas Private Limited based on the formulation developed by CSIR-CFTRI. About CSIR: Headquarters : New Delhi Founded: 26 Sep 1942 Presiident: Prime Minister of India Founders: Shanti Swaroop Bhatnagar ,Arcot Ramasamy Mudaliar

Sports BCCI Creates 'Team Mask Force'

• Featuring India's most revered cricketers such as Virat Kohli and Sachin Tendulkar, the BCCI has • Featuring India's most revered cricketers such as Virat Kohli and Sachin Tendulkar, the BCCI has created a new video to promote wearing masks in public places and help the country battle the COVID-19 pandemic. • The 'Team Mask Force' has been created to spread awareness about wearing masks in public places. • The video has messages from BCCI President Sourav Ganguly, Smriti Mandhana, Rohit Sharma, Harbhajan Singh, Harmanpreet Kaur, Virender Sehwag, Rahul Dravid and Mithali Raj, all of them speaking about the importance of wearing masks and following the directives of the government in this fight. About BCCI : Founded: 1928 Headquarters: Mumbai, India CEO: Rahul Johri Presiident : Saurav ganguly

Deaths Oscar-winning animator and filmmaker Gene Deitch passes away

• Oscar-winning animator, film director and producer, Gene Deitch passed away. • His movie “Munro” won the Oscar award in the animated short film category in 1960. • He directed some episodes of “Tom and Jerry” and also some episodes of “Popeye the Sailor” series. • He received the Winsor McCay Award for his lifelong contribution to animation in 2004

Important Days UN Chinese Language Day: 20 April

• The UN Chinese Language Day is observed annually on April 20. • This event is celebrated every year by UNESCO. • celebration of Guyu in the Chinese Calendar in honor of Cangjie by Chinese people begins around April 20. April 20. • Cangjie is a mythical character with four eyes and four pupils who invented the Chinese characters around 5000 years ago. • The term Guyu means “rain of millet” is the 6th of 24 solar terms, the legend says that the deities and ghosts cried and it rained millet on the day Cangjie invented the Chinese characters. • The Chinese was established as an official language of the UN in 1946. • It was first observed in 2010 by the organisation to celebrate multilingualism and cultural diversity as well as to promote equal use of all six of its official working languages (Arabic, Chinese, English, French, Russian and Spanish) through the organisation. • The first UN Chinese Language Day was held on November 12, 2010. In 2011, the date was moved to April 20. Uniited Natiions(UN): Secretary generall: António Guterres Headquarters: New York, New York, United States Founded: 24 October 1945 Offiiciiall llanguages: Arabic; Chinese; English; French; Russian; Spanish; Member Countriies: 193 Uniited Natiions Day: October 24

Other States Punjab develops Chatbot with Facebook to answer queries on COVID-19

• A Chatbot has been developed by the Punjab government in collaboration with Facebook to keep the people of the state updated about information regarding the COVID-19. • This Chatbot is based on an advanced artificial intelligence language system to give an immediate reply to frequently raised queries regarding COVID-19. • This Chatbot is available on the Facebook page of Punjab government. • The state government has also launched a special helpline for citizens to connect with a network of senior doctors over teleconference and get medical advice on coronavirus and other related concerns. About Punjjab : Chiief miiniister : Amrinder Singh Governor: VP Singh Bandore State aniimall : black buck State biird : northen goshawk State fllower : lilium candidum State tree : iindian rose wood State sport : punjabi kabaddi State sport : punjabi kabaddi State dance : giddha Natiionall park : abohar , harike wetland , jhajjar , birmotibagh , bhir bhadson