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Important Current Affairs 13th November 2020

National

Finance Minister announces Economic Stimulus Package 4.0

• The Finance Minister Smt Nirmala Sitaraman announced the Economic Stimulus Package 4.0.

• Production Linked Incentive Scheme for 10 sectors. Rs 1.46 trillion to be provided.

• Rs 6,940 crore scheme to promote manufacture of API (Active Pharmaceutical Ingredients).

• Rs 18,000 crores allocated to Pradhan Mantri Awas Yojana (Urban). The implementation of the programme will generate 7.8 million jobs.

Operation Green Scheme: Centre announces 50 percent subsidy for air transportation of fruits, vegetables

• The central government on November 11, 2020 announced a new scheme- Operation Green- under which a 50 percent subsidy will be provided to the Himalayan and North-Eastern states for air transportation of 41 notified fruits and vegetables to any place in the country.

• Under the scheme, the airlines will provide direct air transport subsidy to the supplier, consignor, consignee or agent by charging only 50 percent of the actual contracted freight charges. The balance 50 percent will be claimed by the airlines as subsidy from the Ministry of Food Processing Industries.

Banking and Economy

Moody’s projects India GDP for 2020 at -8.9%; 2021 forecast at 8.6%

• Rating Agency Moody has projected the GDP of India at -8.9% for the calendar year 2020. Earlier this was projected at -9.6%.

• Apart from this, India’s GDP growth for Calendar year 2021 is projected at 8.6% by Moody’s from 8.1% earlier.

Paytm launches “Payout Links” for small businesses

• Paytm has launched “Payout Links” for businesses, enabling them to instantly process payouts to customers, employees and vendors, without collecting their bank details.

• It is aimed at helping small businesses in sectors like gaming, retail, export, manufacturing and e-commerce.

HDFC Bank Launches SmartHub Merchant Solutions 3.0 for SMEs

• The private sector lender HDFC Bank has launched SmartHub Merchant Solutions 3.0, India’s first comprehensive banking and payment solution for merchants.

• The new solution will allow merchants and self-employed professionals to instantly open a current account and start accepting payments in-store, online, and on-the-go.

• SmartHub 3.0 will be available in app based, web based and a range of PoS devices.

Acquisitions and Mergers

TCS to acquire Deutsche’s Postbank Systems AG

• Tata Consultancy Services (TCS) announced an agreement under which the company will acquire 100% of the shares of Postbank Systems AG (PBS) from Deutsche Bank AG.

• PBS has close to 1,500 employees and post the acquisition, they will become a part of TCS. The acquisition is expected to finalise by year end.

• The transaction is subject to customary regulatory and governmental approvals.

Appointments and Resignations

Kash Patel named Chief of Staff to acting US Defence Secretary

• Indian-American Kash Patel has been named as the Chief of Staff to the Acting US Defence Secretary Chris Miller. The new appointment comes a day after Donald Trump fired Defence Secretary Mark Esper and designated Chris Miller, as the Acting Secretary.

• Kash Patel, currently on the National Security Council staff. He replaces Jen Stewart, who resigned earlier in the day.

Days

World Kindness Day

• World Kindness Day is held globally on 13 November to highlight good deeds in the community focusing on the positive power and the common thread of kindness which binds us.

• The theme for 2020 World Kindness day is Kindness: The World We Make – Inspire Kindness.

• World Kindness Day was first celebrated in 1998 by The World Kindness Movement.

Books and Authors

Maharashtra Governor releases a book ‘Majhi Bhint’

• Maharashtra Governor, Bhagat Singh Koshyari has released the book ‘Majhi Bhint’ (My Wall) authored by former Maharashtra Minister of Education Rajendra Darda at Raj Bhavan, Mumbai.

• The book is a compilation of selected Facebook posts of Rajendra Darda pertaining to a range of issues written over the last four years.

Nepal President unveils pictorial anthology on Mahatma Gandhi

• A pictorial anthology on Mahatma Gandhi in the Nepali language was released by President Bidya Devi Bhandari to mark his 151st birth anniversary and bring the Nepalese youth closer to the revered global peace icon.

• The book titled Maile Bujheko Gandhi or the Gandhi as I understood, was released at a special function at Rashtrapati Bhawan in Kathmandu in the presence of Ambassador of India to Nepal, Vinay Mohan Kwatra.

• The book has been published by the Embassy of India along with the B P Koirala India-Nepal Foundation to “cherish the values of the Mahatma’s universal teachings with our Nepali friends.

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