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Important Current Affairs 5th February 2020

National

India’s biggest rural technical festival ‘Antahpragnya 2020’ held in Telangana

• Collector of Nirmal inaugurated National Level India’s Biggest Rural Technical Festival titled Antahpragnya 2020 in the state of Telangana at Rajiv Gandhi University of Knowledge Technologies-Basar (RGUKT-Basar).

• Rural areas cannot afford to miss the development bus. Most of the developments in the two lakh years have taken place in the last century.

• The fest showcases 300 prototypes, working models, exhibits and technologies such as automatic switch for water, homemade electricity, smoke absorber, automatic street lighting system, smart dustbins, zero budget farming, automatic irrigation and others.

India hosts Defence dialogue between India and South Korea

• Ministerial-level Defence dialogue between India and South Korea was held in New Delhi today. Defence Minister Rajnath Singh and Minister of National Defence of South Korea Jeong Kyeong-doo held the meeting.

• The theme of DefExpo-2020 in Lucknow is ‘Digital Transformation of Defence’ and India and South Korea recognize the influence of Artificial Intelligence and digital technology in defence sector.

Indian Government unveils new vaccine to control classical swine fever

• The government of India unveiled a new indigenously developed vaccine for controlling classical swine fever (CSF). CSF is a highly contagious fatal pig disease.

• The new vaccine, developed by Uttar Pradesh-based Indian Council of Agricultural Research (ICAR)-Indian Veterinary Research Institute (IVRI), will be much cheaper than the existing one.

 Banking and Economy

Union Cabinet Approves Amendments to Banking Regulation Act to regulate co-operative banks

• The Union Cabinet has given its approval to bring cooperative banks under the regulatory mechanism of Reserve Bank of India.

• The cabinet approved amendments to the Banking Regulation Act on February 5, 2020, thus allowing multi-state cooperative banks to come under the regulation of the RBI.

• The announcement was made by Information and Broadcasting Minister Prakash Javadkar after a cabinet meeting.

• The 1,540 cooperative banks with 8.6 crore depositors’ money, with around Rs. 5 lakh crore deposits in the country and the proposed amendment will protect the depositors.

• a. The Banking Regulation Act, 1949 is legislation in India that regulates all banking firms.

b. Shaktikanta Das is the 25th governor of the Reserve Bank of India.

Union Govt plans to raise funds through LIC IPO

• Finance Minister Nirmala Sitharaman that union government plans to sell a partial stake in LIC through IPO or an initial public offer.

• The union budget she proposed that the government will sell its stake in IDBI Bank to private investors and also amend the Banking Regulation Act to strengthen co-op banks.

• The finance minister that the deposit insurance coverage against bank failure will be increased to Rs 5 lakh from Rs 1 lakh.

• She proposed to expand exchange-traded funds by floating a Debt ETF, consisting primarily of government securities.

LIC: Life Insurance Corporation of India is an Indian state-owned insurance group and investment corporation owned by the Government of India. The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the insurance industry in India.

Headquarters: Mumbai

Owner: Government of India (100%)

Founder: Government of India

Founded: 1 September 1956

Awards

Vinod Shukla bags first Mathrubhumi Book of the Year award

• Noted Hindi poet-novelist and Sahitya Akademi honouree Vinod Kumar Shukla has bagged the inaugural Mathrubhumi Book of the Year award for his translated book “Blue Is Like Blue“.

• The stories in “Blue Is Like Blue”, translated into English by Arvind Krishna Mehrotra and Sara Rai, deal with common people and their daily struggles.

Obituary

Veteran Odia poet Rabi Singh passes away

• Renowned Odia poet Rabi Singh passed away. He was 89.

• The revolutionary poet had received many awards for his contribution to Odia literature.

• He received Atibadi Jagannath Das Samman in the year 2017.

Sports

Sourav Ganguly will be the 'Goodwill Ambassador' of India in the Tokyo Olympic Games 2020

• The recently appointed BCCI President, Sourav Ganguly has been invited by the Indian Olympic Association to be the 'Goodwill Ambassador' of India in the Tokyo Olympic Games 2020.

•  Sourav Ganguly, known in his hometown as the Prince of Calcutta is one of the most respected sports icons in the entire country

Appointment

Amitabh Bhatt the New CEO (Bangalore Complex) at HAL

• Amitabh Bhatt has taken over as Chief Executive Officer of Bengaluru-headquartered safeguard PSU, Hindustan Aeronautics Limited’s Bangalore Complex.

• Prior, he was serving as Executive Director of Light Utility Helicopter (LUH) venture in HAL.

• Bhatt is a Post Graduate in Management and earlier served in SKF India Limited for a long time before joining Hindustan Aeronautics Limited.

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Important Current Affairs 19th January 2020

National 


Piyush Goyal to lead Indian Delegation to World Economic Forum 2020
•    The Union Minister of Commerce and Industry & Railways, Piyush Goyal, will lead the Indian delegation to the 50th World Economic Forum (WEF) annual meeting at Davos from January 20 to 24, 2020.
•    The theme of the 2020 meeting is “Stakeholders for a Cohesive and Sustainable World“.

National Immunization Day 2020
In India, the National Immunization Day was observed on 19 January 2020.
•    As a part of the celebrations, Pulse Polio Immunization programme 2020 was launched where President Ram Nath Kovind administered Polio drops to children below five years at Rashtrapati Bhavan.
•    Under this programme, approximately 17.4 crore children of less than five years of age across the country will be administered polio drops as a part of the immunization drive of the Central Government to sustain polio eradication from the country.

International


New Disease Outbreak: Novel corona virus Grips China’s Wuhan City
•    The Wuhan City of China is in a grip of a new disease outbreak caused by new respiratory virus called Novel corona virus, codenamed as 2019-nCoV.
•    Coronaviruses are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS).
•    2019-nCoV is a new strain that has not been previously identified in humans.
•    The outbreak has so far killed two people in China and sickened at least 45 persons including overseas cases with some new cases being detected in the city.
•    It is believed to have contracted through exposure to animals market that sells seafood and meat in Wuhan.


Banking and Economy


Mastercard to invest $1 bn in India over 5 years towards tech development
•    Global payments company Mastercard planned to invest nearly $1 billion in India over the next five years. The proposed investment will be made over five years in our India operations includes an R&D facility at Pune and another center at Vadodara.
•    The company is also working closely with technology and financial startups in the country by focusing on the innovation and digital payments matrices under its flagship Start Path program,

Half of World’s GDP Moderately or Highly Dependent on Nature: WEF study
•    The World Economic Forum released The New Nature Economy Report titled ‘Nature Risk Rising’ on 19 January 2020.
•    The report has been published by WEF in collaboration with PwC, UK.

RBI Ranks 6th among central banks in buying gold abroad in 2019: WGC Report
•    The Reserve Bank of India (RBI) was the sixth largest gold buyer abroad in the year 2019, as per the World Gold Council (WGC) report titled, “World Gold Outlook 2020”.
•    The RBI currently holds 625.2 tonnes of gold, which is 6.6 percent of its forex reserves.
•    RBI bought 7.5 tonnes of gold in October 2019, to increase its foreign exchange reserves to $450 billion.
•    The central banks of China, Russia, Kazakhstan, Turkey, Poland bought more than India in 2019 respectively.

NPCI Launches Blockchain-based ‘Vajra Platform’ to Secure Online Payment
•    The National Payments Corporation of India (NPCI) has launched a blockchain-technology based payment system ‘Vajra Platform’ for automating payment clearing and settlement processes.
•    Vajra platform is based on Distributed Ledger Technology (DLT), to provide highly secure and tamper-evident transactions stored in a distributed and immutable database.
•    Vajra is a permissioned network that will be set up so that only the parties who have been approved by the Network Administrator can be a part of the network.
•    The platform has three types of nodes: Clearing House node (CHN) for NPCI, UIDAI node for Aadhaar authentication, and Participant node (PN) for all banks/ASP/PPI/PSP

Ranking

Gujarat ranked top for water efficiency Delhi among worst performing states

•    Gujarat ranked the best for parameters on efficiency targets in the review of state and Central government water departments by the ministry of Jal Shakti.
•    Rajasthan is the third-best, and Delhi is among the worst-performing states, according to the ranking for 2019 circulated to different state governments recently. 
•    The seven Central departments reviewed, the Survey of India, got the top billing followed by the National Institute of Hydrology (NIH) and Central Water Commission.


 

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