CLICK ON -PLUTUS IAS ​ 1.India extends Line of Credit worth 18 million US dollars to Maldives. ● India has extended Line of Credit worth 18 million US dollars to the Government of Maldives for the expansion of fishing facilities at Maldives Industrial Fisheries Company (MIFCO). ● The project envisages investment in fish collection and storage facilities and the setting up of a tuna cooked plant and fishmeal plant. ● It is part of the 800 million US dollars line of credit offered by India with repayment tenor of 20 yearsPLUTUS and a 5-year moratorium. IAS ● The loans will be issued through EXIM bank when the government of Maldives will present India with the proposals for future projects. 2.RBI to set up 'Innovation Hub'. Join Telegram Group https://t.me/studymaterialofexam IAS ● The Reserve Bank will set up an 'Innovation Hub' in the country for ideation and incubation of new capabilities which can be leveraged to deepen financial inclusion and promote efficient banking services. ● The Hub will act as a centre for ideation and incubation of new capabilities that can create innovative and viable financial products to help achieve the wider objectives of deepening financial inclusion, efficient banking services, business continuity in times of emergency, and strengthening consumer protection, among others. ● It is said that the central bank earlier took various initiatives for setting up a Regulatory Sandbox. ● Regulatory sandboxPLUTUS (RS) usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain relaxations for the limited purpose of testing. 3.Andhra Pradesh Govt. to launch YSR Cheyutha to benefit rural economy. Join Telegram Group https://t.me/studymaterialofexam ● The Andhra Pradesh government is all set to launch ‘YSR Cheyutha’ on August 12, 2020, to benefit the rural economy of the state. ● The initiative is intended to guide the state in an era of self-reliance by promoting the idea of entrepreneurship among women. ● Andhra Pradesh state government has already allocated Rs. 4,500 crore for the scheme, in addition, the state government also plans on launching YSR Asara Scheme. ● YSR Cheyutha Scheme will directly benefit around 25IAS lakh women who belong to SC, ST, BC, and minority communities and are in the age group of 45-60 years. ● Each of the eligible beneficiaries of the YSR Cheyutha Scheme will be paid Rs. 75,000 by the government in four years at the rate of Rs. 18,750 per annum. ● The state government has also entered into Memorandum of Understanding (MoUs) with Amul, Proctor, and Gamble, ITC and HUL in order to strengthen rural economy armed with YSR Asara and YSR Cheyutha. 4.RBI keeps Interest rates unchanged. PLUTUS ● Reserve Bank of India (RBI) governor Shaktikanta Das announced key policy decisions during the bi-monthly monetary policy address. The central bank decided to leave the repo and reverse repo rates unchanged. Join Telegram Group https://t.me/studymaterialofexam ● The repo rate continues to be at four per cent while the reverse repo rate remains unchanged at 3.3 per cent. ● Loans against gold enhanced to 90% of the value from current 75% to mitigate Covid-19 impact on households. ● With Covid-19 continuing to affect the economy, stressed MSME borrowers to be eligible for restructuring of debt if their accounts were classified standard. ● Priority sector lending status extended to start-ups. ● Real GDP growth to remain in the negative zone in the 1st half and in full fiscal. ● Rs 10,000 cr additional liquidity facility to be provided by NHB, NABARD. 5.Reliance ranked No 2 brand globally after Apple. IAS ● Billionaire Mukesh Ambani's oil-to-telecom conglomerate Reliance Industries has been ranked second biggest brand after Apple on the FutureBrand Index 2020. ● Future Brand Index examines the leading firms all over the world and evaluates their growth over the years. ● In the Future Brand Index 2020 Samsung is ranked 3rd followed by Nvidia, Moutai, Nike, Microsoft, ASML, PayPal and Netflix in the top 10.Tata is ranked 65 for its technology business.PLUTUS QUESTIONS What is the amount that was granted by India as Line of Credit to Maldives for expansion of fishing facilities at Maldives Industrial Fisheries Company (MIFCO)? 1) USD 20 million 2) USD 7 million 3) USD 14 million 4) USD 18 million 5) USD 10 million Answer & Explanation Join Telegram Group https://t.me/studymaterialofexam Answer-4) USD 18 million Explanation: India has extended the Line of Credit (LoC) worth USD18 million to the Government of Maldives for the expansion of fishing facilities at Maldives Industrial Fisheries Company (MIFCO) based in Felivaru, Lhaviyani Atoll, through the development of fish collection and storage facilities, and the setting up of a tuna cooked plant and fishmeal plant. The credit line agreement was signed by India’s Export-Import Bank (EXIM)’s Chief General Manager Sudhattaa Mandal and Maldivian Minister of Finance Ibrahim Ameer. This extension is a part of US$800 million LoC offered by India through Export-Import Bank of India (EXIM Bank) carrying an interest rate of 1.75% with repayment tenor of 20 years and a 5-year moratorium. The Punjab state government has launched ‘Pride of Punjab’ programme as a partnership between the Department of Sports & Youth Services & YuWaah. The YuWaah is the initiative of which world organization? 1) International Monetary Fund (IMF) 2) United Nations Industrial Development Organization (UNIDO) 3) United Nations Children’s Fund (UNICEF) 4) Food and Agriculture Organization (FAO) IAS 5) United Nations Educational, Scientific and Cultural Organization (UNESCO) Answer & Explanation Answer- 3) United Nations Children’s Fund (UNICEF) Explanation: Punjab Chief Minister Amarinder Singh launched the ‘Pride of Punjab’ programme through video conferencing. The programme is a partnership programme between the Department of Youth Services and Sports and YuWaah – a joint initiative of UNICEF, other UN agencies, civil society organizations and the private sector. India’s first mobile RT-PCR COVID lab named ‘Mobile Infection Testing and Reporting lab (MITR)’ was developed by which institute? 1) Tata Institute of Fundamental Research (TIFR) 2) Council of Scientific PLUTUSand Industrial Research (CSIR) 3) Indian Institute of Science (IISc) Bengaluru 4) Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) 5) Indian Association for the Cultivation of Science (IACS) Answer & Explanation Answer-3) Indian Institute of Science (IISc) Bengaluru Explanation: Karnataka’s Medical Education Minister Dr. K Sudhakar inaugurated India’s first Reverse Transcription Polymerase Chain Reaction (RT- PCR) COVID-19 mobile Lab approved by the Indian Council of Medical Research (ICMR). The mobile lab is called the Mobile Infection Testing and Reporting lab (MITR) which was developed by the Indian Institute of Science (IISC) in Bengaluru and handed over to Rajiv Gandhi University of Health Join Telegram Group https://t.me/studymaterialofexam Sciences (RGUHS) in Bengaluru. The lab is capable of producing 100% results within 4 hours and it can conduct 9000 RT-PCR tests per month. Union minister Narendra Singh Tomar has launched “Sahakar Cooptube NCDC Channel”, a new initiative by National Cooperative Development Corporation (NCDC). The NCDC functions under which ministry? 1) Ministry of Chemicals and Fertilizers 2) Ministry of Rural Development 3) Ministry of Road Transport and Highways 4) Ministry of Agriculture & Farmers Welfare 5) Ministry of Heavy Industries and Public Enterprises Answer & Explanation Answer-4) Ministry of Agriculture & Farmers Welfare Explanation: Union Minister of Agriculture & Farmers’ Welfare Shri Narendra Singh Tomar has launched “Sahakar Cooptube NCDC Channel”, a new initiative by National Cooperative Development Corporation (NCDC) and the guidance videos produced by NCDC on ‘Formation and Registration of A Cooperative’ also launched in Hindi and regional language of eighteen different states. The headquarters of IASNCDC is New Delhi. NCDC functions under Ministry of Agriculture & Farmers Welfare. The foundation stone of Indian Institute of Management Sirmaur was laid at which state? 1) Uttar Pradesh 2) Andhra Pradesh 3) Madhya Pradesh 4) Arunachal Pradesh 5) Himachal Pradesh Answer & Explanation Answer-5) Himachal Pradesh Explanation: Union Minister of Education Ramesh Pokhriyal Nishank has laid the foundation stone of Indian Institute of ManagementPLUTUS (IIM) Sirmaur at Dhaula kuan in the Sirmaur district of Himachal Pradesh through Video conference, along with Chief Minister of Himachal Pradesh Shri Jai Ram Thakur; Minister of State for Finance Shri Anurag Singh Thakur and Minister of State for Education Shri Sanjay Dhotre. The doubling of Lachyan-Hotgi section was completed by South Western Railway recently. The bridge was built over which river? 1) Krishna 2) Bhima 3) Kaveri 4) Kabini 5) Tunga Join Telegram Group https://t.me/studymaterialofexam Answer & Explanation Answer- 2) Bhima Explanation: The South Western Railway commissioned the development of Lachyan-Hotgi section, which is 33 km long, as part of the doubling project from Hotgi-Kudgi-Gadag (284 km) which had been sanctioned by the Railway Board in 2014-15. The route connects Karnataka with Maharashtra through Bijapur and Sholapur districts. The track passes through the 670 m long important bridge over River Bhima, the longest bridge in the zone comprising 14 spans of 45.7 m each which is now being seen as one of the most important developments of the route. As per UN’s report titled “Policy Brief: Education during COVID-19 and beyond”, How many additional children and youths may drop out or not have access to school in 2021? 1) 26.3 million 2) 23.8 million 3) 17.1 million 4) 12.5 million 5) 15.7 million Answer & Explanation IAS Answer-2) 23.8 million Explanation: António Guterres Secretary-General of United Nations(UN) launched the report titled “Policy Brief: Education during COVID-19 and beyond” states that around 23.8 million additional children and youths may drop out or not have access to school in 2021 due to the economic impacts of COVID-19.