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Banking Current Affairs - 22-Jun-20 TABLE of CONTENTS A BrainBuzz Academy Banking Current Affairs - 22-Jun-20 TABLE OF CONTENTS A.. IInternatiionall Rellatiions 1.. Chiina offers Banglladesh tariiff exemptiion for 97% of exports from Dhaka amiid tensiions wiith IIndiia 2.. Worlld Bank approves dollllar 1..05 biilllliion to Banglladesh for jjobs and economiic recovery 3.. IIndiia Attend 32nd Viirtuall EAG Pllenary Meetiing 2020 Chaiired by EAG Chaiirman Mr.. Yury Chiikhanchiin B.. Natiionall 1.. Peoplle iin severall parts of IIndiia wiitness annullar sollar eclliipse,, wiith majjestiic Riing of Fiire 2.. Over 42 crore poor receiived fiinanciiall assiistance of Rs 65,,454 crore under PMGKP 3.. Atall IInnovatiion Miissiion partners wiith CIIL to boost iits entrepreneurshiip iiniitiiatiives 4.. Niitii Aayog Forms Panell Led by Amiitabh Kant to Devellop Job Pllatform For Miigrant Labours C.. Economy 1.. Ambanii,, Asiia’’s Weallthiiest Man,, Joiins Cllub of Worlld’’s 10 Riichest D.. Enviironment 1.. More than a 66--miilllliion--year--olld egg found iin Antarctiica E.. Deaths 1.. Padma Shrii Awardee & Sociiall Worker Viidyaben Shah Passed Away Internatiionall Rellatiions China offers Bangladesh tariff exemption for 97% of exports from Dhaka amid tensions with India •In a bid to woo Bangladesh, China has provided a huge trade boost to the country by announcing tariff exemption for 97 per cent of Bangladeshi products effective from July 1. •The decision has come one month after Bangladesh Prime Minister Sheikh Hasina and Chinese President Xi Jinping held a discussion to upgrade their bilateral relations during the COVID-19 pandemic. •With this announcement, a total of 8,256 Bangladeshi products will come under the 97 percent of products that would be exempted from tariff. •Currently, 3095 Bangladeshi products enjoy duty-free access to Chinese market under Asia-Pacific Trade Agreement (APTA). World Bank approves dollar 1.05 billion to Bangladesh for jobs and economic recovery •The World Bank has approved dollar 1.05 billion for three projects in Bangladesh to create quality jobs and accelerate economic recovery in the wake of the Corona pandemic. •These projects will help the economy in bouncing back by creating more and better jobs and promoting direct private investment in specialized economic zones. •The first project worth a dollar 500 million called Private Investment and Digital Entrepreneurship (PRIDE) project will strengthen social and environmental standards in selected economic zones and software technology parks in Bangladesh. •The dollar 295 million Enhancing Digital Government and Economy (EDGE) Project will establish an integrated, cloud-computing digital platform for all government agencies and improve cyber-security. •The dollar 250 million Second Programmatic Jobs Development Policy Credit will create fiscal space to support the government’s response to the COVID-19 crisis. About Worlld Bank: Founded: 1944 Headquarters: Washington, D.C., United States Membershiip: 189 countries Presiident: David Malpass Chiief Economiist: Penny Goldberg India Attend 32nd Virtual EAG Plenary Meeting 2020 Chaired by EAG Chairman Mr. Yury Chikhanchin •Indian officials, including representatives from enforcement agencies, have participated in the 32nd special Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) plenary meeting 2020, under the aegis of the Financial Action Task Force (FATF). •The virtual meet, chaired by the EAG Chairman Mr. Yury Chikhanchin (Russian Federation) and the EAG Deputy Chairman Mr. Farhod Bilolov (Republic of Tajikistan), is said to be held in China in June 2020. •The meeting witnessed the approval of ML/TF (Money laundering /terrorist financing) risk assessment methodology in the Eurasian region along with the information collection methods. •It saw the adoption of EAG Annual Report for 2019 and the EAG Budget for 2021, as well as approved amendments to a number of current EAG documents governing the EAG Secretariat’s activities. •The Secretariat has presented the report on the progress in the implementation of the pilot project •The Secretariat has presented the report on the progress in the implementation of the pilot project to coordinate the provision of technical assistance for the Republic of Tajikistan, which included interim findings. •The EAG is a regional body consisting of 9 nations namely India, Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Belarus. It is an associate member of the FATF. About FATF: Headquarters: Paris, France Membershiip: 39 Presiident: Xiangmin Liu Natiionall People in several parts of India witness annular solar eclipse, with majestic Ring of Fire •The country witnessed a rare celestial event, an annular solar eclipse on 21 June. •The annular ‘ring of fire’ solar eclipse, wherein the Sun appears like a ring of fire, is visible in different parts of the country. •The solar eclipse is taking place on the summer solstice, which is the longest day in the Northern Hemisphere. •When the Moon comes between the Sun and Earth, the shadow falls on the surface of the Earth. •The Sun is entirely covered by the Moon for a brief period. Over 42 crore poor received financial assistance of Rs 65,454 crore under PMGKP •More than 42 crore poor people have received Rs 65,454 crore in financial assistance under the Pradhan Mantri Garib Kalyan Package (PMGKP). •As part of Rs 1.70 lakh crore relief package, the government on March 26 announced free foodgrains and cash doles to women, poor senior citizens and farmers to mitigate hardship faced due to the lockdown. •More than 42 crore poor people received financial assistance of Rs 65,454 crore under the Pradhan Mantri Garib Kalyan Package. Mantri Garib Kalyan Package. Atal Innovation Mission partners with CIL to boost its entrepreneurship initiatives •Coal India Limited (CIL) has agreed to partner with Atal Innovation Mission (AIM), NITI Aayog to proactively support the flagship mission’s innovation and entrepreneurship initiatives across the country. •A Statement of Intent (SoI) of a strategic partnership between AIM and Coal India Limited was signed and exchanged in a virtual e-summit for the same. •AIM has various innovation programs and entrepreneurial ecosystem building initiatives such as Atal Tinkering Labs ( ATL) at a school level, Atal Incubation Centres at institutional levels, Atal Community Innovation Centres ( ACIC) for Tier-2, Tier3 cities and rural India, Atal New India Challenges at industry level and Applied Research and Innovation for stimulating innovations in the MSME industry. About AIM •The Atal Innovation Mission (AIM) is a flagship initiative set up by the NITI Aayog to promote innovation and entrepreneurship across the length and breadth of the country, based on a detailed study and deliberations on innovation and entrepreneurial needs of India in the years ahead. Miissiion Diirector: Ramanan Ramanathan Launched: 2016 Niti Aayog Forms Panel Led by Amitabh Kant to Develop Job Platform For Migrant Labours •NITI (National Institution for Transforming India) Aayog, a policy think tank of the Government of India (GoI)has formed a high-powered committee of top executives of technology companies like Google, Microsoft and Tech Mahindra under the leadership of its CEO (Chief Executive Officer)Amitabh Kant to develop a job platform that will help migrant labours & blue-collar workers, who have lost their jobs during the lockdown, to find better employment opportunities in their language and around their place. •The committee will look into technology-based measures to address the issue related to migrant laborers laborers •Reliance Industries president Kiran Thomas, Microsoft India president Anant Maheshwari, Tech Mahindra MD and CEO CP Gurnani, Google India country manager and vice president Sanjay Gupta, Bharti Airtel CEO Gopal Vittal, MSME(Micro, Small and Medium Enterprises)secretary A K Sharma are some of the key members of the panel. •According to estimates, there are about 40 crore workers in the unorganized sector in the country. This sector contributes about 30 % of the country’s GDP ((Gross Domestic Product)) &around 60 % of migrant laborers are either unskilled or semi-skilled. About NITI (Natiionall Instiitutiion for Transformiing Indiia) Aayog: Headquarters: New Delhi. Chaiirperson: Narendra Modi. Chiief Executiive Offiicer(CEO): Amitabh Kant. Viice Chaiirperson: Rajiv Kumar Economy Ambani, Asia’s Wealthiest Man, Joins Club of World’s 10 Richest •Reliance Industries Chairman Mukesh Ambani has joined the elite club of the world’s top 10 richest people, according to the Bloomberg Billionaires Index released on 20 June 2020. •He is ranked as the 9th richest person in the world, in the latest update. •The net worth of Ambani jumped to $64.5 billion as of 20 June, making him the only Asian tycoon to feature in the top 10 richest people list. •With a total net worth of $160 billion, Amazon CEO Jeff Bezos is still the wealthiest person in the world. He is followed by Bill Gates ($112 billion) and Mark Zuckerberg ($90.6 billion). Enviironment More than a 66-million-year-old egg found in Antarctica •Scientists have finally resolved the mystery behind the 66-million-year-old fossil egg found in Antarctica’s Seymour Island. •Some estimates also suggest its age to be 68-million-years. •The fossil, which looks like a deflated American football, was kept in a Chilean museum and was •Some estimates also suggest its age to be 68-million-years. •The fossil, which looks like a deflated American football, was kept in a Chilean museum and was nicknamed The Thing. After much research and analysis, scientists have said that the egg belongs to an extinct giant sea lizard or snake that lived alongside the dinosaurs. •According to the researchers, the millions year old fossil egg, measuring 29 cm by 20 cm (8 inches by 11 inches), is the second-largest egg in the world. •The first position still remains with the eggs of Madagascar’s extinct giant flightless elephant birds. Deaths Padma Shri Awardee & Social Worker Vidyaben Shah Passed Away •Padma Shri awardee & National Awardee, Freedom fighter & Social worker, Vidyaben Shah passed away around the age of 97 in her residence in New Delhi.
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