Daily Current Affairs : 6th Nov 2020 | Daily GK update Quiz

Exp. Reserve Bank of India (RBI) Governor Shaktikanta Das on 4th Nov inaugurated and chaired the 40th meeting of the SAARCFINANCE Governors’ Group.

During his opening remarks, the RBI Governor highlighted the close partnership and co-operation among the member countries in jointly fighting the pandemic. The group took stock of the macroeconomic situation in the SAARC region and discussed the current SAARCFINANCE initiatives.

Exp. The Prime Minister of India, Narendra Modi, will held a virtual bilateral summit with his Italian counterpart, Giuseppe Conte on November 6, 2020. During the virtual summit, both the leaders would sign 15 pacts in the field of trade, energy, ship building and culture.

The summit will explore possibilities of Italian investments in India. The primary focus will be on investments in defence. Both the countries will also discuss about hosting the G20 summit. Italy have agreed to host G20 summit in 2021 after India requested.

Exp. ICICI Bank has launched a banking stack for millennial customers which offers an instant savings account, a feature-driven iMobile application that offers investment guidance, curated credit and debit card, instant personal loans and overdrafts, and an experiential branch with social engagement space.

Called ICICI Bank Mine, any millennial-aged up to 35 years can apply digitally for the account from November 6 through the bank’s website or the app.

Exp. The Reserve Bank of India on announced a Co-Lending Model (CLM) scheme on November 5, 2020. Under the Co-Lending Model, banks and Non Banking Financial Company (NBFC) can provide loans to the priority sector borrowers based on a prior agreement.

Aims: The primary focus of the scheme is to improve the flow of credit to the unserved and underserved sector of the economy. It also seeks to make available funds to the ultimate beneficiary at an affordable cost.

Co-Lending Model (CLM): The CLM is an improvement over the co-origination of loan scheme that was announced by the RBI in September 2018. CLM seeks to provide greater flexibility to the lending institutions. Under the CLM norms, banks will have the permission to co-lend with all registered NBFCs based on a prior agreement. The co-lending banks will take their share of the individual loans on a back-to-back basis.  But, the NBFCs will be required to retain a minimum of 20% share of the individual loans.

Exp. An alleged TRP scam came to the fore, the Centre on 4th Nov constituted a committee to review the guidelines on television rating agencies in India and asked the panel to submit its report to the information and broadcasting minister within two months.

The four-member committee will be headed by Prasar Bharati CEO Shashi S. Vempati.

Exp. Fast Moving Electrical Goods (FMEG) company Syska Group, has roped in actor Rajkummar Rao as the new face of the brand. Rao will work closely with the company to promote the Syska products across LED and fan segments.

The company aims to leverage the actor’s strong connect with urban audiences, as well as with those from Tier 2 and 3 markets, which make up the large segment of its target groups.

Exp. WhatsApp Inc. the Facebook-owned messaging platform, will roll out payments feature for users across the country in regional languages, a day after securing an approval from the National Payments Corporation of India. “Payments is available now in 10 Indian regional language versions of WhatsApp. All you need is a debit card with a bank that supports UPI and you can set it up straight away. The NPCI has given its nod to WhatsApp to offer payments services via the Unified Payments Interface. This ends a two-year wait for WhatsApp Pay, which has so far been operating pilot operations for users in India.

Exp. Dilip Rath, Chairman, National Dairy Development Board (NDDB) has been unanimously elected to the Board of International Dairy Federation (IDF) on 2nd November 2020 during the General Assembly of IDF.

Dilip Rath is associated with IDF for the last 10 years as Member Secretary of Indian National Committee and as a member of the Standing Committee on Dairy Policy and Economics. He has participated in National Committee Secretaries’ meetings as well as General Assembly on numerous occasions.

Note: India ranks first among the world’s milk-producing nations and has the largest bovine population in the world.

Exp. President: Sergio Mattarella

Capital: Rome

Currency: Euro

Exp. CEO: Sandeep Bakhshi

Headquarters: Mumbai

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