Important Current Affairs 1st October 2020

National

Rajnath Singh launches Defence India Startup Challenge-4 to promote innovation in defence sector

• Defence Minister Shri Rajnath Singh launched the Defence India Startup Challenge (DISC 4) during the iDEX event. iDEX4Fauji initiative and Product Management Approach (PMA) guidelines were also launched by the Raksha Mantri during the event.

• All these initiatives are aimed at expanding the horizons of Innovations for Defence Excellence (iDEX) ecosystem in the country.

• iDEX4Fauji is a first of its kind initiative, launched to support innovations identified by members of the Indian Armed Forces and will bolster frugal innovation ideas from soldiers/ field formations. iDEX4Fauji will allow our soldiers to become part of the innovation process and get recognised and rewarded.

International

India, Netherlands sign agreement to support decarbonisation

• NITI Aayog of India and the Embassy of the Netherlands in New Delhi have signed a Statement of Intent on  September 28, 2020 to support decarbonisation and energy transition agenda in order to accommodate cleaner energy.

• The main objective of the partnership is to co-create innovative technological solutions.

•  The SoI was signed by NITI Aayog CEO Amitabh Kant and Ambassador of the Netherlands to India Marten van den Berg.

Banking and Economy

RBI sets WMA Limit for Govt at Rs 1,25,000 crore for the second half of FY21

• The Reserve Bank of India has set the limits for Ways and Means Advances (WMA) for the second half of the financial year 2020-21 (October 2020 to March 2021) for Central Government at Rs. 1,25,000 crore.

• The Reserve Bank will trigger fresh floatation of market loans when the Government of India utilizes 75% of the WMA limit.

• The interest rate on WMA/overdraft will be:

WMA: Repo Rate

Overdraft: Two percent above the Repo Rate

Summits and Mou’s

Flipkart partners with Bajaj Allianz to offer cyber fraud insurance

• Keeping the upcoming festive season and growing online frauds in mind, Flipkart announced a partnership with Bajaj Allianz General Insurance Company to offer ‘Digital Suraksha Group Insurance for customers in the country.

• The “Digital Suraksha Group Insurance” policy will cover financial losses caused by various kinds of online frauds and cyber attacks that might occur during digital transactions.

• The customers can choose for a one-year cover at premiums as low as Rs 183 for a cover of Rs 50,000, Rs 312 for Rs 1 lakh, and Rs 561 for Rs 2 lakh for a 12-months tenure, with covers also extending up to Rs 10 lakh.

BSE joins hands with Yes Bank to empower SMEs

• Leading stock exchange BSE said it has signed a pact with private sector lender Yes Bank to empower the small and medium enterprises (SMEs) listed on the platform.

• The pact aims at empowering the SME segment through awareness and knowledge-sharing programmes.

• As per the Memorandum of Understanding (MoU), BSE and Yes Bank will conduct knowledge events for SMEs, export promotion of SMEs, in addition to providing banking and financial solutions.

Awards

Sonu Sood honoured with SDA Special Humanitarian Action Award by UNDP

• The veteran actor Sonu Sood has been conferred the prestigious SDG Special Humanitarian Action Award by the United Nations Development Programme (UNDP) on 28 September 2020 during a virtual ceremony.

• The actor has been awarded for selflessly extending a helping hand and sending home lakhs of migrants, helping thousands of stranded students across geographies abroad, providing free education and medical facilities to young children and creating free employment opportunities to the needy in the wake of the C-19 pandemic.

Science and Technology

India successfully test-fires BrahMos supersonic cruise missile

• India successfully test-fired the extended range BrahMos supersonic cruise missile on September 30, 2020. The BrahMos missile is capable of hitting targets at over 400 kilometre range.

• DRDO Chairman Dr. G Satheesh Reddy said that the successful test will lead to adding more indigenous content to the supersonic cruise missile. The BrahMos can be launched from submarines, ships, fighter jets or land.

• The test-firing was carried out under the PJ-10 project of the Defence Research and Development Organisation (DRDO). The missile was launched with an indigenous booster from a land-based facility in Odisha.

• This is the second test-firing of the extended range version of the missile that has an indigenously developed airframe and booster. The BrahMos supersonic cruise missile has been developed as a joint venture between the DRDO and Russia’s Federal State Unitary Enterprise NPO Mashinostroyenia (NPOM).

Obituary

‘I Am Woman’ Singer Helen Reddy passes away

• Singer Helen Reddy, whose 1972 song ‘I Am Woman’ became a global feminist anthem, died in Los Angeles aged 78.

• Helen Reddy’s 1971 version of “I Don’t Know How to Love Him” from the musical “Jesus Christ Superstar” launched a decade-long string of Top 40 hits, three of which reached No. 1.

• In 1973, she won the best female vocal pop performance Grammy Award for “I Am Woman,” quickly thanking her then-husband and others in her acceptance speech.

Veteran lyricist songwriter Abhilash passes away

• Veteran songwriter Abhilash, who is best known for the song ‘Itni Shakti Hame Dena Daata’ from the 1986 film Ankush, has passed away. He was 74.

• His real name was Om Prakash. His song ‘Itni Shakti Hame Dena Daata’ has been translated into eight languages and is played as a prayer song across schools and other institutions even today.

Appointments and Resignations

Shekhar Kapur appointed president of FTII Society & chairman of FTII Governing Council

• Noted Filmmaker Shekhar Kapur has been named as the President of Film and Television Institute of India, FTII Society and Chairman of Governing Council of FTII.

• He has a vast experience, will add more value to the Institute, will replace television producer BP Singh.

Ranking

Mukesh Ambani tops Hurun India Rich List for ninth consecutive year

• The Reliance Industries’ Chairman, and Asia’s richest man Mukesh Ambani has topped the IIFL Wealth Hurun India Rich List 2020 for the ninth consecutive year.

• He has a total net worth of Rs 6,58,400 crore.

• London-based Hinduja brothers (SP Hinduja, along with his three brothers) is at second position with combined net worth of Rs 1,43,700 crore followed by HCL’s Shiv Nadar at third spot with net worth of Rs 1,41,700 crore.