BOLT-July-2020
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oliveboard July 2020 Monthly Current Affairs CLICK HERE TO PREPARE FOR IBPS, SSC, SBI, RAILWAYS & RBI EXAMS IN ONE PLACE Bolt is a series of GK Summary ebooks by Oliveboard for quick revision oliveboard.in www.oliveboard.in Table of Contents Banking .......................................................................................................................................................................... 3 Economy ........................................................................................................................................................................ 9 National ....................................................................................................................................................................... 12 International............................................................................................................................................................. 28 State .............................................................................................................................................................................. 35 Sports ............................................................................................................................................................................ 46 Agreements ............................................................................................................................................................... 49 Schemes ...................................................................................................................................................................... 57 Appointments ........................................................................................................................................................... 60 Awards ......................................................................................................................................................................... 70 Ranks & Reports ..................................................................................................................................................... 73 Important Days ....................................................................................................................................................... 78 Summit & Conferences ....................................................................................................................................... 82 Science & Technology ......................................................................................................................................... 84 Defence ........................................................................................................................................................................ 91 Books & Authors ..................................................................................................................................................... 93 Miscellaneous ........................................................................................................................................................... 96 Obituary ....................................................................................................................................................................... 99 Person in news ...................................................................................................................................................... 104 Insurance .................................................................................................................................................................. 108 India & World ......................................................................................................................................................... 110 Environment ............................................................................................................................................................ 115 Apps & Portals ....................................................................................................................................................... 117 Acquisitions & Mergers ..................................................................................................................................... 119 www.oliveboard.in www.oliveboard.in Banking 1. RBI launches inflation expectations survey The Reserve Bank of India has launched the inflation expectations survey of households and responses of the participants will be gathered over telephone in view of the coronavirus pandemic. The results of the survey are used as inputs for monetary policy. Hansa Research Group, Mumbai -engaged to conduct the survey. 2. RBI releases India's International Investment Position data RBI released data relating to India's International Investment Position as it stood at the end of March 2020. The ratio of overseas financial assets to India's GDP in 2019-20 (at current market prices) moved up to 26.5 per cent in March 2020. The ratio of net IIP to GDP also improved to (-) 14 percent. 3. World Bank approves $750 million fund to support COVID hit MSMEs in India The World Bank announced a $750 million MSME Emergency Response program to support increased flow of finance to MSMEs, severely impacted by the COVID-19 crisis. This will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs. World Bank Country Director in India- Junaid Ahmad. Established in 1944, the World Bank Group is headquartered in Washington, D.C. The World Bank is like a cooperative, made up of 189 member countries. These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at the World Bank. The WB President is selected by the Board of Executive Directors for a five-year, renewable term. The World Bank Group has set two goals for the world to achieve by 2030: 1) End extreme poverty by decreasing the percentage of people living on less than $1.90 a day to no more than 3%. 2) Promote shared prosperity by fostering the income growth of the bottom 40% for every country. WB President- David R. Malpass. 4. RBI asks banks to reclassify MSMEs as per revised criteria The RBI has asked banks, financial institutions & NBFCs to reclassify micro, small and medium enterprises on the basis of Govt notified new criteria for the classification of MSMEs on the basis of turnover and investment in plant & machinery. MSME Development Act came into existence in 2006. 5. Equitas SFB unveils video call KYC account Equitas Small Finance Bank has unveiled a video KYC account. With this facility, any person, anywhere in the country, can open a savings account with Equitas SFB, complete the full KYC through a video call with the bank. Bank’s Operations began in 2016; HQ: Chennai. The customer has to submit their Aadhaar and PAN details on the video call for the bank to verify. www.oliveboard.in www.oliveboard.in 6. ADB becomes observer of network for greening the financial system Asian Development Bank has joined the central banks & supervisors Network for Greening the Financial System as an observer, which is a group of central banks willing to contribute to the development of environment and climate change risk in finance sector. HQ: Mandaluyong, Philippines; President: Masatsugu Asakawa. Central Banks and Supervisors Network for Greening the Financial System (NGFS) was launched at the Paris One Planet Summit on 12 December 2017. ADB’s inclusion to the NGFS is aligned with the goals in its corporate strategy, the Strategy 2030, particularly in tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; fostering regional cooperation and integration; and strengthening governance and institutional capacity. The NGFS presently consists of 66 members and 13 observers. 7. YES Bank launches instant loan disbursement facility YES Bank has launched a solution for instant disbursement of retail loans for the bank’s pre-approved liability account holders. Called Loan in Seconds, the algorithm assesses a loan application in real-time and eliminates the need for documentation. YES Bank MD and CEO: Prashant Kumar. 8. SBM Bank India partners with Mastercard to facilitate cross-border transactions, remittances Government of Mauritius-promoted SBM Bank India and global payments technology major Mastercard have joined hands to facilitate cross-border payments and remittances services. Using ‘Master Send’ SBM India can make business to consumer transactions quickly SBM Bank CEO: Parvataneni Venkateswara Rao. SBM Bank India is the first bank to receive a universal banking licence from the RBI to set up and operate as a scheduled commercial bank through the wholly owned subsidiary mode. 9. Fino Payments Bank launches 'Bhavishya' savings account for minors Fino Payments Bank Limited announced the launch of a savings account scheme for minors aged between 10-18 years. 'Bhavishya', a subscription-based savings account, can be opened by paying a nominal amount. It is initially introduced in UP, Bihar & MP. Fino Payments Bank HQ: Mumbai. CEO: Rishi Gupta. Benefits of Bhavishya savings account includes no minimum account balance requirement and a free debit card, which can be used at ATMs only to withdraw cash with Aadhaar authentication. Further, on attaining 18 years of age, the Bhavishya savings account will be upgraded to regular savings account on submission