Weekly Current Affairs (1st to 7th December 2020) Part - 1 Notes | EduRev

Current Affairs: Weekly Current Affairs (1st to 7th December 2020) Part - 1 Notes | EduRev

The document Weekly Current Affairs (1st to 7th December 2020) Part - 1 Notes | EduRev is a part of the Current Affairs Course Weekly Current Affairs.
All you need of Current Affairs at this link: Current Affairs

Banking & Financial Awareness

1. Which intergovernmental financial institution has released a new book titled, ‘Future of Regional Cooperation in Asia and the Pacific’ ______ Asian Development Bank (ADB).
Note:
➢ The book reviews the progress with regional cooperation and integration in Asia and the Pacific. It explores ways for economies in the region to work combinedly to recover and rebuild from the COVID-19 pandemic, so as to achieve a more flexible, sustainable, and inclusive future.
➢ The book consists of papers that are contributed by renowned scholars and staff of ADB.

2. To strengthen the power distribution sector in which state, the Government of India recently signed 133 million USD loan Agreement with the Asian Development Bank ______ Meghalaya.
Note:

➢ Also, the loan is to be supplemented with a 2 million USD grant from the Asian Development Bank Japan fund for poverty reduction.
➢ This fund was basically allocated to finance renewable energy projects and support income generation activities for disadvantaged groups and women.

3. Which bank, in association with Japan’s JCB International Co Ltd (JCB), has launched a debit card on National Payments Corporation of India’s (NPCI) RuPay network ______ State Bank of India.
Note:

➢ The ‘SBI RuPay JCB platinum contactless debit card’ comes with a dual-interface feature, which will enable customers to perform both contact and contactless transactions in the domestic market and seamless contact transactions overseas.
➢ With this card, consumers would be able to transact on ATMs and PoS terminals across the globe under JCB network.

4. According to data of the Commerce and Industry Ministry, which country is the second largest source of Foreign Direct Investment (FDI) in India ______ USA.
Note:

➢ During April-September 2020, India attracted FDI worth $7.12 billion from the U.S. and $2 billion from Mauritius, which slipped to fourth position, the DPIIT (Department for Promotion of Industry and Internal Trade) data showed.
➢ Singapore with $8.30 billion foreign inflows continued to be the top source of FDI for India in April-September 2020-21. The country has received $2.1 billion inflows from Cayman Isands.

5. With which bank the government of India has inked loan pact of USD 50 million to boost digital platforms for public finance reforms in West Bengal  ______ Asian Development Bank.
Note:
➢ The integration of the state’s financial and information systems through the programme’s whole-of-government approach will help improve delivery of public services and generate fiscal savings that could help the state augment growth-enhancing development financing.
➢ Through the support to interoperable e-Government platforms, the programme will ensure streamlining of social protection benefits such as pension and provident fund, facilitate gender-disaggregated data, tax payments and revenue collection.

6. To which bank the Reserve Bank of India has issued order to temporarily halt all launches of the Digital Business generating activities planned under its program Digital 2.0 ______ HDFC Bank.
Note:

➢ The order dated December 2 comes after HDFC Bank’s internet banking and payment system were disrupted by yet another outage on November 21.
➢ HDFC Bank has drawn criticism for various such incidents over the past two years. RBI has directed HDFC Bank’s top examine the lapses and fix accountability.
➢ HDFC Bank is one India’s largest private sector bank and has a market capitalization of Rs 7.7 lakh crore.

7. To improve the quality and reliability of electricity supply in which state of India the Asian Development Bank (ADB) has approved a USD 430 million multi-tranche financing facility (MFF) ______ Uttar Pradesh.
Note:

➢ The Uttar Pradesh Power Distribution Network Rehabilitation Project will improve efficiency and sustainability of power supply in the state.
➢ The project will finance the conversion of 65,000 km rural low-voltage distribution lines from bare conductors to aerial bundle conductors to benefit an estimated 70 million people in 46,000 rural villages.

8. Which bank has launched a tech-based loan management solution called ‘LenS-The Lending Solution’, to speed up and maintain accuracy in online loan processing and sanctioning of credit proposals ______ Punjab National Bank.
Note:

➢ To standardise the system, process and appraisal formats for loan processing, speed up the process of credit sanctions, and auto-generate loan documents, among others are the main purpose behind the launch of it.
➢ For all kinds of loans such as MSME, agriculture, retail and other credit, the system is expected to be implemented in a phased manner.

9. Which bank has unveiled a premium banking program that offers personalized solutions focused on the particular needs of key consumer segments – from small business owners to salaried professionals and senior citizens ______ Yes Bank.
Note:

➢ Yes Bank will celebrate the launch of this enhanced program during ‘Truly Yours’ Week, from December 1 – 7, 2020 throughout the bank’s network of branches across India, with several customercentric programs and partnered activations through dealer, OEM and bancassurance partners.

10. Which bank has entered into an agreement with Small Industries Development Bank of India (SIDBI) to use its asset restructuring module for MSME borrowers ______ Indian bank.
Note:

➢ MSMEs have been finding it difficult to maintain books of accounts, preparation of financial statements and submission of financial projections for producing the same to banks / FIs for availing credit finance / restructuring their loans based on their estimates and revision in working capital cycle.
➢ MSMEs have to approach third parties for this purpose which involves time and cost.

11. Which bank has launched Rupifi Business Credit Card’ for MSMEs in partnership with Rupifi and Visa ______ Axis Bank.
Note:

➢ This Contactless Co-Branded credit card, powered by Visa is applicable only to the MSMEs businesses that transact on the aggregator platforms partnered with Rupifi PAN (Permanent Account Number) India for their business purchases.
➢ The card offers credit solutions to such MSMEs. It is only for domestic transactions.

12. Recently, the Reserve Bank of India (RBI) has decided to extend liquidity adjustment facility (LAF) to which banks to make liquidity management more efficient ______ Regional Rural Banks.
Note:

➢ Accordingly, the apex bank has decided to extend the Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) to RRBs. It has also decided to permit the RRBs to participate in the Call/Notice money market, both as borrowers and lenders.
➢ RRBs are currently not permitted to access the liquidity windows of the Reserve Bank as well as the call/notice money market.

13. The Reserve Bank of India has proposed to increase the limit for contactless card transactions to what amount from Rs 2,000 per transaction from January 1, 2021 ______ Rs 5,000.
Note:

➢ Similarly, the limit for processing e-mandates and standing instructions on cards and Prepaid Payment Instruments (PPIs) for recurring transactions has been increased to Rs 5,000.
➢ This announcement was part of the RBI's bi-monetary policy announcement held on December 4, 2020.

14. Paytm has partnered with which small finance bank to empower MSMEs with instant digital loans ______ Suryoday Small Finance Bank.
Note:

➢ The company is offering instant microloans to businesses that are unable to access financial services from traditional banking players.
➢ The company through this partnership is aiming at disbursing loans to over 1 lakh small businesses in the next 12 to 18 months.

15. The Karnataka regional office of NABARD signed MoU with which bank to extend concessional refinance facility to the beneficiaries of watershed development and tribal development projects ______ State Bank of India.
Note:
➢ The MoU aims to benefit 45000 beneficiaries from 260 Farmers Producers Organisations in 28 districts. In addition 8500 beneficiaries from Self Help groups and Joint Liability Groups will be covered.
➢ The MoU signed will enable SBI to act as an implementing agency for digitilising the Self Help Groups and uploading data on E-Shakti portal across the state.

16. Financial solutions provider Razorpay partnered with which global digital payments platform to facilitate international payments for small businesses and freelancers ______ PayPal.
Note:

➢ The company’s partner businesses can now integrate with PayPal and accept payments from international customers from across 200 markets in a convenient, fast and secure manner.

17. Fintech company Finin has launched itself as a ‘neobank’, in partnership with which bank ______ SBM Bank.
Note:
➢ It will provide features such as detailed break-up of user spending and send prompts if they exceed pre-set limits and automatic sweeps of money into liquid funds.
➢ The bank will target white-collar workers and freelancers and has waiting list of 15,000 people before launch. It aims to open 50,000 accounts in six months.

18. Which life insurance company in association with Ketto India has initiated #PromisewalaDabba, a nationwide crowdfunding campaign ______ HDFC Life.
Note:

➢ #PromiseWalaDabba has been initiated by the insurance company for supporting the community, with an aim to help the Dabbawalas of Mumbai stand on their feet once again with a month’s supply of ration, delivered to their homes.
➢ Ketto, India’s foremost crowdfunding platform has also partnered with HDFC Life as part of the campaign in order to serve as a platform to raise money for this cause.

19. In partnership with which bank and NPCI the PayNearby announced to launch PayNearby Shopping Card, enabling its retail partners to derive maximum benefits of digital commerce in the mass market category ______ Yes Bank.
Note:
➢ The new service will allow PayNearby retailers to avail a range of digital services in a secure, risk-free mode. The retailers can avail of services such as e-learning, e-commerce, online gaming, monthly recharges and utility payments, online music, and videos.
➢ The launch of the PayNearby shopping card is powered by RuPay and is targeted for enabling a mass-market adoption. This will likely allow for cash digitization options at the grass-root levels.

20. Which Regional Rural Bank has launched ‘Kirishi OD’ scheme designed for farmers ______ Karnataka Vikas Grameen Bank (KVGB).
Note:

➢ The farmers are provided with an OD facility based on the value of the land. The limit is capped to a maximum of ₹1.5 lakh per acre to irrigated lands and ₹1 lakh per acre to dry land.
➢ The facility can be used for working capital requirements such as maintenance of machinery and equipment, repair and replacement of machinery, agricultural allied activities and even for the repayment of private loans availed for personal use.

21. The Asian Development Bank (ADB) has approved a USD 190 million loan for modernization and upgradation of power distribution system in which city ______ Bengaluru.
Note:

➢ The funding for the Bengaluru Smart Energy Efficient Power Distribution Project by ADB includes a USD 100 million sovereign loan and a USD 90 million without sovereign guarantee loan to Bangalore Electricity Supply Company Limited (BESCOM).
➢ This features an innovative financing arrangement, the first of its kind for ADB, combining public and private sector loans to a state government-owned enterprise.

Obituaries
1. Renowned personality S Ramakrishnan passed away recently, he was former director of which institution ______ Vikram Sarabhai Space Centre (VSSC).
Note:

➢ Mr. Ramakrishnan joined the VSSC, a lead centre of the Indian Space Research Organisation (ISRO), in August 1972 after graduating from the College of Engineering, Guindy, and acquiring his MTech in Aeronautics from IIT, Madras.
➢ He joined as a member of the SLV-3 project team responsible for the development of India’s first satellite launch vehicle under the leadership of A.P. J. Abdul Kalam.

2. Renowned personality Mir Zafarullah Khan Jamali passed away recently, he was former prime minister of which country ______ Pakistan.
Note:

➢ Jamali, the country’s first and only elected prime minister from Balochistan, had served during the military regime of Gen Pervez Musharraf. However, Gen Musharraf sought his resignation in 2004 and he was replaced by Shaukat Aziz.
➢ He won the 2013 general elections as an independent, but later joined the PML-N and used to sit on the treasury benches in the previous assembly.

3. Renowned personality Manu Mukherjee passed away recently, he was a veteran ______ Actor.
Note:
➢ The actor is best remembered for his roles in Satyajit Ray’s Joy Baba Felunath and Ganashatru.
➢ He had also been part of children’s fantasy film Patalghar’.

4. Former chief of Intelligence Bureau chief Dineshwar Sharma passed away recently, he was Administrator of which Union territories ______  Lakshwadweep.
Note:
➢ Mr. Sharma, a 1979-batch Indian Police Service (IPS) officer, hailed from Bihar. He served as IB Director from 2014 to 2016. He headed the bureau when the government announced demonetisation on November 8, 2016.
➢ In 2017, he was appointed as the union government’s representative for peace talks with various groups in North Eastern states on May 30, 2017.

5. Renowned personality Valery Giscard d’Estaing passed away recently he was former President of which country ______ France.
Note:
➢ Giscard was elected president in 1974 at the age of 48 to become France’s youngest postwar leader.
➢ He was also an ardent Anglophile, and took office a year after Britain joined the European Economic Community.

6. Renowned personality Dharampal Gulati, passed away recently he was owner of which company ______ MDH.
Note:
➢ Popularly called ‘King of Spices,’ was awarded the Padma Bhushan, the country’s third-highest civilian award, in 2019.
➢ MDH exports spices to countries across the world such as Switzerland, Japan, the US, and Canada. It is one of the biggest brands of spices, and manufactures almost 50 different types of spices.

7. Legendary footballer Papa Bouba Diop passed away recently, for which country did he played ______ Senegal.
Note:
➢ He was of the age of 42. His goal helped Senegal secure historic 1–0 win over the then-world champions France in the opening match of the 2002 FIFA World Cup, and Senegal’s first-ever match at the FIFA World Cup.
➢ Diop has won 63 caps for Senegal.

Important Days
1. What is the theme of the World Aids Day 2020 ______ Global Solidarity and Shared Responsibility.
Note:
➢ The day is being celebrated since 1988.
➢ It is celebrated to create awareness against the spread of HIV infection.
➢ It is one of the 11 official Global Public Health campaigns of World Health Organisation.

2. The World Computer Literacy Day is observed every year on which date  ______ 2nd December.
Note:
➢ The day promotes technological skills, especially in children and women.
➢ The World Computer Literacy Day controls the advanced gap that exists in the world today.
➢ The day was originally founded by the Indian computer company NIIT to mark its 20th anniversary in 2001.

3. The National Pollution Control Day is observed every year on which date  ______ 2nd December.
Note:
➢ The year 2020 marks the 36th anniversary of the Bhopal Gas Tragedy.
➢ Through this day, awareness is created about the rising pollution of air, water, and soil, as well as shifts the attention of people with regards to the pollution control acts.

4. International Day for the Abolition of Slavery is observed annually on ______ 2nd December.
Note:

5. What is the theme of the ‘International Day of Persons with Disabilities’ for the year 2020 ______ Not all Disabilities are Visible.
Note:
➢ The theme of the for 2020 is ‘Not all Disabilities are Visible’.
➢ The day is celebrated to promote the rights and well-being of persons with disabilities in all spheres of society and development, and to increase awareness of the situation of persons with disabilities in every aspect of political, social, economic and cultural life.

6. What is the theme of the Indian Navy Day 2020, celebrated every year on December 4 ______ Indian Navy Combat Ready, Credible and Cohesive.
Note:

➢ Every year the Indian Navy Day is celebrated on December 4.
➢ Every year the Indian Navy Day is celebrated to commemorate Operation Trident.
➢ The operation was launched by the Indian Navy during the India-Pakistan war of 1971 to attack Karachi Harbour.

7. International Volunteer Day is observed every year on ______ 5th December.
Note:
➢ The theme for International Volunteers Day 2020 is ‘Together We Can Through Volunteering’.
➢ Amid the Covid-19 pandemic on the world level, the volunteers have worked at the forefront of medical, community and societal responses.

8. The International Civil Aviation Day is celebrated every year on which date  ______ 7th December.
Note:

➢ The purpose of International Civil Aviation Day is to help generate and reinforce worldwide awareness of the importance of international civil aviation to the social and economic development of States, and of the unique role of ICAO in helping States to cooperate and realize a truly global rapid transit network at the service of all mankind.
➢ The Council has decided that from now until 2023, the theme will be: “Advancing Innovation for Global Aviation Development”.

9. In India, the Armed Forces Flag Day is observed annually on ______ 7th December.
Note:
➢ The three branches of the Armed Forces of India, namely, the Indian Army, the Indian Air Force and the Indian Navy are remembered on this day.
➢ The ‘Armed forces Flag Day Fund’ (AFFDF) has been constituted by the Government of India for the welfare and rehabilitation of the Ex-Servicemen (ESM) community.

The document Weekly Current Affairs (1st to 7th December 2020) Part - 1 Notes | EduRev is a part of the Current Affairs Course Weekly Current Affairs.
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