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------------------------------------------------------------------------------------------------------------------------------------- Visit www.affairsbank.com for Recent Govt. Job Alerts, Latest Current Affairs, Quizzes, eBooks, Online Tests and Q&A for all Competitive exams. Current Affairs 08 August 2020 Highlights National CA 1 PM Modi to launch financing facility of Rs 1 lakh cr under Agriculture Infrastructure Fund tomorrow 2 Agriculture Mechanization and Technology Division takes various initiatives for farmers‟ welfare under Atma Nirbhar Bharat Abhiyaan/Krishi 3 Ministry of Jal Shakti launched a New Version of the India Water Resources Information System State CA 4 Maharashtra state Becomes the First State to Partner with Google India to Provide Learning Tools for Schools 5 Uttar Pradesh CM inaugurates dedicated 400 bed COVID hospital in Noida 6 Manoj Sinha appointed as Lt Governor of J&K Appointments 7 Former J&K L-G G C Murmu appointed CAG Economy & Business 8 NTPC achieves over 100 billion units of cumulative generation in current financial year 9 RBI Monetary Policy Highlights 10 Exim Bank extends USD 250 million line of credit to Mozambique to

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Page 1: Current Affairs 08 August 2020 Highlights...2020/08/07  · Visit for Recent Govt. Job Alerts, Latest Current Affairs, Quizzes, eBooks, Online Tests and Q&A for all Competitive exams

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Current Affairs 08 August 2020 – Highlights

National CA

1 PM Modi to launch financing facility of Rs 1 lakh cr under Agriculture

Infrastructure Fund tomorrow

2

Agriculture Mechanization and Technology Division takes various

initiatives for farmers‟ welfare under Atma Nirbhar Bharat

Abhiyaan/Krishi

3 Ministry of Jal Shakti launched a New Version of the India Water

Resources Information System

State CA

4 Maharashtra state Becomes the First State to Partner with Google

India to Provide Learning Tools for Schools

5 Uttar Pradesh CM inaugurates dedicated 400 bed COVID hospital in

Noida

6 Manoj Sinha appointed as Lt Governor of J&K

Appointments

7 Former J&K L-G G C Murmu appointed CAG

Economy & Business

8 NTPC achieves over 100 billion units of cumulative generation in

current financial year

9 RBI Monetary Policy Highlights

10 Exim Bank extends USD 250 million line of credit to Mozambique to

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improve the power supply quality

Books & Authors

11 A book titled „Amazing Ayodhya‟ authored by Neena Rai

Sports CA

12 India to host ICC Men‟s T-20 World Cup next year; Women‟s T-20

postponed till 2022

Awards & Honours

13 „Moothon‟, „Son Rise‟ win awards at 20th New York Indian Film

Festival

Obituary

14 Writer and activist Sadia Dehlvi dies aged 63

15 Padma Shri awardee and prominent cultural historian and exponent

of Mewati gharana Mukund Lath passes away at 82

Special Days

16 78th anniversary of Quit India movement – 08th August

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1 PM Modi to launch financing facility of Rs 1 lakh cr under Agriculture

Infrastructure Fund tomorrow

PM Modi to launch financing facility of Rs 1 lakh cr under Agriculture Infrastructure Fund

Prime Minister Narendra Modi will launch the financing facility of 1 lakh crore rupees under the Agriculture Infrastructure Fund at 11 AM on 09th August 2020 through video conferencing.

Highlights :

-Along with Union Minister of Agriculture and Farmers‟ Welfare Narendra Singh Toma, PM will release the sixth installment of funds of 17 thousand crore rupees to 8.5 crore farmers under the PM-KISAN scheme.

-The Union Cabinet had approved the Central Sector Scheme of financing facility under Agriculture Infrastructure Fund of 1 Lakh Crore rupees.

-The Fund will catalyze the creation of post-harvest management infrastructure and community farming assets such as cold storage, collection centres and processing units.

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-These assets will enable farmers to get greater value for their produce, as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition.

-One lakh crore rupees will be sanctioned under the financing facility in partnership with multiple lending institutions. 11 of the 12 Public Sector Banks have already signed MOUs with the Department of Agriculture, Co-operation and Farmers Welfare. 3 per cent interest subvention and credit guarantee of up to 2 crore rupees will be provided to the beneficiaries to increase the viability of these projects.

-The beneficiaries of the scheme will include farmers, PACS, Marketing Cooperative Societies, FPOs, SHGs, Joint Liability Groups, Multipurpose Cooperative Societies, Agri-entrepreneurs, Startups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.

Background :

On 08th July 2020The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to a new pan India Central Sector Scheme-Agriculture Infrastructure Fund. The scheme shall provide a medium – long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and financial support.

Under the scheme, Rs. One Lakh Crore will be provided by banks and financial institutions as loans to Primary Agricultural Credit Societies (PACS), Marketing Cooperative Societies, Farmer Producers Organizations (FPOs), Self Help Group (SHG), Farmers, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Startups, Aggregation Infrastructure Providers and Central/State agency or Local Body sponsored Public Private Partnership Project

Loans will be disbursed in four years starting with sanction of Rs. 10,000 crorein the current year and Rs. 30,000 crore each in next three financial years.

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Agri Infra fund will be managed and monitored through an online Management Information System (MIS) platform. It will enable all the qualified entities to apply for loan under the fund. The online platform will also provide benefits such as transparency of interest rates offered by multiple banks, scheme details including interest subvention and credit guarantee offered, minimum documentation, faster approval process as also integration with other scheme benefits.

PM-KISAN scheme :

The Pradhan Mantri Kisan Samman Nidhi Yojna (PM-KISAN) scheme, launched on 1st December 2018, has provided a direct cash benefit of over 75 thousand crore rupees to more than 9.9 crore farmers. This has enabled them to fulfill their agricultural requirements and support their families.

2

Agriculture Mechanization and Technology Division takes various

initiatives for farmers‟ welfare under Atma Nirbhar Bharat

Abhiyaan/Krishi

Agriculture Mechanization and Technology Division takes various initiatives for farmers‟ welfare under Atma Nirbhar Bharat Abhiyaan and Mobile App “CHC- Farm Machinery” developed

Agricultural Mechanization is one of the key drivers for sustainable development of agriculture sector which helps in increasing production by timely farm operations, reducing losses, reducing the cost of operations by ensuring better management of costly inputs.

Mechanization also enhances the productivity of natural resources and reduces drudgery associated with various farm operations. Under the hash-tag #AtmaNirbharKrishi, created by Ministry of Agriculture and Farmers‟ Welfare, Government of India, initiatives taken by Agriculture Mechanization and Technology Division are:

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In order to lay special emphasis towards promotion of agricultural mechanization in the country and to bring more inclusiveness, Sub-Mission on Agricultural Mechanization (SMAM) had been initiated since April 2014. In the year 2020-21, budget of Rs. 1033 crores have been provided for the scheme, out of which Rs. 553 crores have been released to the State Governments.

Mobile App “CHC- Farm Machinery”

Ministry of Agriculture and Farmers Welfare has also developed a Multi lingual Mobile App “CHC- Farm Machinery” which connects the farmers with Custom Hiring Service Centers situated in their locality.

This app is facilitating agricultural mechanization in the country by encouraging small & marginal farmers to take machines on rental basis for agriculture practices without them having to purchase the high priced such machines.

The App has been further modified and now has been given the acronym of “FARMS-app” (Farm Machinery Solutions-app). The revised version is more user friendly and the scope of the app has also been enhanced.

Atma Nirbhar Bharat Abhiyaan

The „Atmanirbhar Bharata Abhiyan‟ or „Self-Reliant India Mission‟ announced during the announcement of the coronavirus pandemic related economic package on 12 May 2020. As part of the Atmanirbhar Bharat package, numerous government decisions have taken place such as changing the definition of MSMEs, boosting scope for private participation in numerous sectors, increasing FDI, in the defence sector, and the vision has found support in many sectors such as the solar manufacturers sector.

3 Ministry of Jal Shakti launched a New Version of the India Water

Resources Information System

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Ministry of Jal Shakti launched a New Version of the India Water Resources Information System

The Ministry of Jal Shakti has launched a new version of the India Water Resources Information System (India-WRIS).

The new version is to address the requirement of a strong data base and a reliable information system.

– The new version of India-WRIS is open to the public, and accessible through the web portal www.indiawris.gov.in. – The portal contains information related to Water Resources for rainfall, water levels & discharge of rivers, water bodies, groundwater levels, reservoir storages, evapotranspiration and soil moisture, and modules on water resources projects, water bodies, hydro-met data availability and tools for GIS layer editing. – Through a secured login, Central and State Water Agencies can enter, analyze, validate and manage data for water level of both Surface Water & Ground Water, water quality, flow, sediment, and many climate parameters. – The new system includes time-series data obtained through manual readings and telemetry data received by means of GPRS or satellite. -Any stakeholder can visualize the information in a user friendly manner, as well download the information in the form of excel reports and graphs.

About Ministry of Jal Shakti :

This was formed by merging of two ministries; Ministry of Water Resources, River Development & Ganga Rejuvenation and Ministry of Drinking Water and Sanitation.

Founded May 2019.

Union Minister of Jal Shakti : Gajendra Singh Shekhawat

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4 Maharashtra state Becomes the First State to Partner with Google

India to Provide Learning Tools for School

Maharashtra state Becomes the First State to Partner with Google India to Provide Learning Tools for Schools

Maharashtra the first state in the country to launch G Suite for Education and Google Classroom for the students currently engaged in online learning, owing to the Covid-19 pandemic lockdown.

As part of the policy for universal education, the Maharashtra Govt. has tied up with Google to enable remote learning for 2.3 crore students and teachers, officials. Under the partnership, students and teachers will access blended learning programmes that combine classroom approach with online learning including free tools like G Suite for Education, Google Classroom, Google Meet and Others. Chief Minister of Maharashtra : Uddhav Thackeray Governor of Maharashtra : Bhagat Singh Koshyari

5 Uttar Pradesh CM inaugurates dedicated 400 bed COVID hospital in

Noida

Uttar Pradesh CM inaugurates dedicated 400 bed COVID hospital in Noida

Uttar Pradesh Chief Minister Yogi Adityanath 08.08.2020 inaugurated 400-bed dedicated Covid-19 hospital with state of the art facilities in sector 39 of Gautam Buddh Nagar, Noida. He also reviewed the Covid situation in the district and gave instructions to the officials.

The hospital with modern facilities is developed with the help of Bill and Milinda gates foundation and Tata Trust.

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The hospital of Noida, which has a capacity of 400 beds, is the largest state-run Covid facility in the state. Spread across eight floors and equipped with its own diagnostics laboratory and blood bank, it will be the premier facility in the city for covid patient‟s care.

Chief Minister of UP : Yogi Adityanadh

Governor of UP : Anandiben Patel

6 Manoj Sinha appointed as Lt Governor of J&K

Manoj Sinha appointed as Lt Governor of J&K

Former Union minister and senior BJP leader from Uttar Pradesh Manoj Sinha was on 06th August 2020 appointed as Lt Governor of Jammu and Kashmir replacing Girish Chandra Murmu, who was named to the crucial post leas than a year ago.

Sinha will be the fourth LG of Jammu and Kashmir in two years.

Murmu is expected to be named as the next comptroller and auditor general (CAG) of India when the term of the present incumbent, Rajiv Mehrishi, ends on August 7.

7 Former J&K L-G G C Murmu appointed CAG

Former J&K L-G G C Murmu appointed CAG

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Former Lieutenant Governor of Jammu and Kashmir, Girish Chandra Murmu will be the new Comptroller and Auditor General of the country. Mr Murmu will succeed Rajiv Mehrishi.

An IAS officer of Gujarat cadre, Mr Murmu resigned as Lieutenant Governor of Jammu and Kashmir on 05.08.2020.

8 NTPC achieves over 100 billion units of cumulative generation in

current financial year

NTPC achieves over 100 billion units of cumulative generation in current financial year

Highlights :

-National Thermal Power Corporation, NTPC, Group has achieved over 100 billion units of cumulative generation in the current financial year. Corporation informed about this feat through a statement today.

-As per the data published by Central Electricity Authority, 2600 Mega Watt NTPC Korba in Chattisgarh has emerged as the top performing thermal power plant in the country with 97.42 percent plant load factor, PLF, between April to July this year.

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-Exemplary performances were registered by five other flagship power plants of NTPC as well. NTPC‟s plants at Sipat in Chattisgarh, Rihand and Vindhyachal in Uttar Pradesh, Talcher Kaniha and Talcher Thermal in Odisha are among the top ten performing thermal power plants based on PLF performance.

-Further, two 200 Mega Watt units of NTPC at Singrauli in Uttar Pradesh achieved highest PLF in the country with 99.90 percent and 99.87 percent from April to July this year.

NTPC :

NTPC Limited, formerly known as National Thermal Power Corporation Limited, is an Indian Public Sector Undertaking, engaged in the business of generation of electricity and allied activities. It is a company incorporated under the Companies Act 1956 and is promoted by the Government of India.

Founded : 1975

HQ : New Delhi

9 RBI Monetary Policy Highlights

RBI Monetary Policy Highlights

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Background :

The monetary policy states the use of financial instruments under the control of the Reserve Bank of India to standardize magnitudes such as availability of credit, interest rates, and money supply to achieve the ultimate objective of economic policy mentioned in the Reserve Bank of India Act, 1934.

The meetings of the Monetary Policy Committee are held at least 4 times a year and it publishes its decisions after each such meeting. The committee comprises six members – three officials of the Reserve Bank of India and three external members nominated by the Government of India.

MPC Highlights :

Status quo

The MPC kept repo rates unchanged at 4 percent, reverse repo rate unchanged at 3.35 percent and maintained accommodative stance. MPC voted unanimously in favour of the status quo.

RBI said the space for further monetary policy action is available but advisable to be judicious.

Loan restructuring for MSME

The RBI recognised the need for continued support to MSMEs‟ meaningful restructuring.

“It has been decided that, in respect of MSME borrowers facing stress on account of the economic fallout of the pandemic, lending institutions may restructure the debt under the existing framework, provided the borrower‟s account was classified as standard with the lender as on March 1, 2020. This restructuring shall be implemented by March 31, 2021,” said RBI.

Inflation in focus

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Inflation stays high, said RBI governor. “Domestic food inflation has remained elevated across economies ever since the coronavirus outbreak.

MPC projected retail inflation to remain elevated in Q2. However, it added that a more favourable food inflation outlook might emerge on good farm produce.

Sombre growth outlook

RBI said that the real GDP growth of the country may remain in a negative zone in the first half and overall FY21.

The output of core industries in June contracted for the fourth successive month though with a considerable moderation.

The Reserve Bank‟s business assessment index (BAI) for Q1FY21 hit its lowest mark in the survey‟s history. The manufacturing PMI remained in contraction, shrinking further to 46.0 in July from 47.2 in the preceding month.

Resolution framework for COVID-19-related stress

The RBI announced providing a window under the Prudential Framework to enable the lenders to implement a resolution plan in respect of eligible corporate exposures without a change in ownership, and personal loans, while classifying such exposures as Standard subject to specified conditions.

“Such conditions are considered necessary to ensure that the facility of this resolution window is available only to the COVID-19 related stressed assets. Besides, the crucial aspect of maintaining financial stability has also been suitably factored in,” RBI said.

The framework shall not be available for exposures to financial sector entities as well as central and state governments, local government bodies (e.g. municipal corporations) and anybody corporate established by an Act of Parliament or State Legislature, said RBI.

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Only those borrower accounts shall be eligible for resolution under this framework that was classified as standard, but not in default for more than 30 days with any lending institution as on March 1, 2020.

The accounts should continue to remain standard till the date of invocation. The resolution plan may be invoked anytime till December 31, 2020, and shall have to be implemented within 180 days from the date of invocation, RBI said.

Lenders shall have to keep additional provisions of 10 percent on the post-resolution debt.

The Reserve Bank is constituting an Expert Committee under the chairmanship of K.V. Kamath which shall make recommendations to the RBI on the required financial parameters.

Increase in permissible loans against gold Ornaments and jewellery

RBI allowed an increase in the permissible loan to value ratio (LTV) for loans against pledge of gold ornaments and jewellery for non-agricultural purposes from 75 percent to 90 percent. This relaxation shall be available until March 31, 2021.

Additional liquidity facility for NHB, NABARD

RBI said it will provide an additional standing liquidity facility (ASLF) of Rs 5,000 crore to NHB – over and above Rs 10,000 crore already provided – for supporting housing finance companies (HFCs). The facility will be for a period of one year and will be charged at the RBI‟s repo rate.

Besides, RBI will provide an additional special liquidity facility (ASLF) of Rs 5,000 crore to NABARD for a period of one year at the RBI‟s policy repo rate for refinancing NBFC-MFIs and other smaller NBFCs of asset size of Rs 500 crore and less to support agriculture and allied activities and the rural non-farm sector.

Creation of innovation hub

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Areas such as cybersecurity, data analytics, delivery platforms, payments services, etc., remain at the forefront when we think of innovation in the financial sector, RBI said.

To promote innovation across the financial sector by leveraging on technology and create an environment that would facilitate and foster innovation, RBI will set up an Innovation Hub in India.

The Innovation Hub will act as a centre for ideation and incubation of new capabilities which can be leveraged to create innovative and viable financial products and/or services to help achieve the wider objectives of deepening financial inclusion, efficient banking services, business continuity in times of emergency, strengthening consumer protection, etc, said RBI.

The Innovation Hub will support, promote and hand-hold cross-thinking spanning regulatory remits and national boundaries.

Online dispute resolution for digital payments

RBI underscored that as the number of digital transactions rises significantly, there is a concomitant increase in the number of disputes and grievances.

It said that the central bank will require Payment System Operators (PSOs) to introduce Online Dispute Resolution (ODR) Systems in a phased manner.

“To begin with, authorised PSOs shall be required to implement ODR systems for failed transactions in their respective Payment Systems. Based on the experience gained, ODR arrangements will be extended to other types of disputes and grievances,” RBI said.

Scheme of offline retail payments using cards and mobile devices

The RBI proposed to allow a pilot scheme for small value payments in off-line mode with built-in features for safeguarding the interest of users, liability protection, etc.

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The central bank said the instructions in this regard will be issued shortly.

“Based on experience gained, detailed guidelines for the roll-out of the scheme will be announced in due course,” RBI said.

10 Exim Bank extends USD 250 million line of credit to Mozambique to

improve the power supply quality

Exim Bank extends USD 250 million line of credit to Mozambique to improve the power supply quality

Export-Import Bank of India (Exim Bank) on 07th August 2020 said it has extended a USD 250-million (about Rs 1,870 crore) line of credit (LOC) to Mozambique for improving power supply quality in the country.

With the signing of this LOC agreement, Exim Bank till date has extended 14 LOCs to Mozambique, taking their total value to USD 772.44 million.

Exim Bank has now in place 264 LOCs, covering 62 countries across regions including Africa, Asia, and Latin America, with credit commitments of around USD 25.98 billion, available for financing exports from India.

About Exim Bank :

Export-Import Bank of India (EXIM Bank) is a specialized financial institution, wholly owned by Government of India, set up in 1982, for financing, facilitating and promoting foreign trade of India.

About Mozambique :

Mozambique is a southern African nation whose long Indian Ocean coastline is dotted with popular beaches like Tofo, as well as offshore marine parks.

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Capital: Maputo Official language: Portuguese

11 A book titled „Amazing Ayodhya‟ authored by Neena Rai

A book titled „Amazing Ayodhya‟ authored by Neena Rai

Titled “Amazing Ayodhya”, the book by Neena Rai promises to offer “authentic information about the city, which will not only help understand the life and times of ancient Hindus, but also the revered figures of Rama and Sita.

Coinciding with the Ram temple „bhoomi pujan‟, publishing house Bloomsbury on 05th August 2020 announced their latest book that will shed light on the history of Ayodhya.

12 India to host ICC Men‟s T-20 World Cup next year; Women‟s T-20

postponed till 2022

India to host ICC Men‟s T-20 World Cup next year; Women‟s T-20 postponed till 2022

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International Cricket Council (ICC) has confirmed that the ICC Men‟s T20 World Cup 2020 that was postponed due to Covid-19 will be held in Australia in 2022.

India will host the ICC Men‟s T20 World Cup 2021 as planned.

Cricket‟s governing body has also decided to postpone the ICC Women‟s Cricket World Cup 2021 in New Zealand till February – March 2022 because of the impact the Covid-19 pandemic has had on cricket globally.

The format of the ICC Men‟s T20 World Cup 2021 will remain as it was for 2020 and all teams that qualified for that event will now participate in India in 2021. A new qualification process will be run for the ICC Men‟s T20 World Cup 2022. The format of the postponed ICC Women‟s Cricket World Cup will remain as it was for 2021. Five teams have already qualified for the event and that will stand for 2022.

The original global qualification event to determine the final three teams to contest the ICC Women‟s Cricket World Cup was scheduled to be held in Sri Lanka in July 2020, but this was postponed due to COVID-19. The qualification event will now be held in 2021.

After ICC‟s decision to postpone the T20 World Cup, BCCI decided to use the vacant window to announce the dates for the Indian Premier League. The IPL will be held in the UAE from September 19 to November 10. India will be touring Australia after the completion of the IPL.

13 „Moothon‟, „Son Rise‟ win awards at 20th New York Indian Film

Festival

„Moothon‟, „Son Rise‟ win awards at 20th New York Indian Film Festival

National Award–winning documentary “Son Rise” and Geetu Mohandas-directed “Moothon” were among the films that took home the

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big honours at the 20th New York Indian Film Festival (NYIFF), which switched to a virtual edition this year amid the ongoing COVID-19 pandemic.

Over 45 feature length narratives, shorts and documentaries from the Indian subcontinent were showcased at the festival‟s virtual edition that ran for 10 days beginning July 24.

NYIFF: The New York Indian Film Festival is an annual film festival that takes place in New York City, and screens films relating to India, the Indian Diaspora, and the work of Indian filmmakers. The festival began in November 2001 and was founded by Aroon Shivdasani and the Indo-American Arts Council

14 Writer and activist Sadia Dehlvi dies aged 63

Writer and activist Sadia Dehlvi dies aged 63

Sadia, who hailed from the royal „Shama‟ family, edited Bano, an Urdu women‟s journal. Noted Delhi-based writer and activist Sadia Dehlvi has passed away after a prolonged battle with cancer. She was 63.

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15 Padma Shri awardee and prominent cultural historian and exponent

of Mewati gharana Mukund Lath passes away at 82

Padma Shri awardee and prominent cultural historian and exponent of Mewati gharana Mukund Lath passes away at 82

Mukund Lath, prominent cultural historian, scholar, and an exponent of the Mewati gharana passed away on 6 August, 2020 at the age of 82. Born in 1937 in Kolkata, West Bengal, Lath graduated from Delhi University in English and acquired a master‟s degree in Sanskrit Literature from Jadavpur University in 1965.

16 78th anniversary of Quit India movement – 08th August

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78th anniversary of Quit India movement – 08th August

08th August 2020 is the 78th anniversary of Quit India movement.

On this day in 1942, father of the nation Mahatma Gandhi gave the clarion call of Do or Die to all Indians to drive away Britishers from the country.

The movement had begun from Gawalia Tank in Mumbai. The day is observed as August Kranti Day every year.

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Current Affairs 07 August 2020 – Highlights

National CA

1 Govt launches Letter of Recommendation module for street vendors

to avail PM SVANidhi Scheme benefits

2 PM to inaugurate Rashtriya Swachhata Kendra on 08th August 2020

3 PM to inaugurate submarine Optical Fibre Cable connecting Chennai

and Port Blair on Monday 10th August

4

Dr Harsh Vardhan presides over signing of MoU between CSIR and

FSSAI for Collaborative Research and Information Dissemination

regarding Food and Nutrition

5 Proposals for the construction of nearly 10.28 Lakh houses approved

under PMAY(Urban)

6 Trifed Launches its Own Virtual Office Network to Spearhead Tribal

Socio-Economic Development on its 33rd Foundation day

State CA

7 23 Kendriya Vidyalayas to be set-up in Jammu and Kashmir

8 Deputy Commissioner of Rajouri launches „Awaz-e-Rajouri‟ mobile

app

Appointments

9 Dr. Pradeep Kumar Joshi takes oath as Chairman of UPSC

Business & Economy

10 IBBI amends the Insolvency and Bankruptcy Board of India