Daily GK Update 16th December 2020, Daily Current Affairs 2020

Daily GK & Current affairs is very important for any Government and other Competitive Exams. All the important updates based on current affairs 2020 are included in this Daily Current Affairs 16 Dec 2020 article.

Daily GK Update 16 Dec 2020, Daily Current Affairs 2020 : 

Here we are regularly update the Daily GK Update & daily Current affairs 2020. If you are preparing for Government Job Exams then it is very important for you to read the Daily Current Affairs 2020, Daily GK Update 2020. All the important updates based on current affairs 2020 are included in this Daily Current Affairs 2020 article. All the serious candidates are advised to bookmark this page and read the GK Update on daily basis. It will help you mug up the important current affairs 2020 / Daily GK Update for LIC, IBPSSBI POSSCRailways  , SBI Clerk 2020 and State Exam of 2020.

National (Current Affairs)

♦GOI launch Brand India Mission

GOI launch Brand India Mission

  • The Government of India is to launch Brand India Mission to promote quality of products that are manufactured in the country. This mission is being piloted by the Ministry of Commerce and Industry. The mission is based on similar policies in other countries such as Switzerland, United States, Germany and France.

Brand India mission:

  • Under the Brand India Initiative, both Indian and international consumers are to be educated about products that are made in India. The mission will help India to demonstrate its leadership position and its commitment to quality. The main aim of the mission is to increase the local production.
  • In order to receive the tag, the manufactured goods should comply with the prescribed health and safety standards of the country. Also, such manufactured goods should carry minimum of 20% local content.

♦Maharashtra Government Introduces Unified Development Control Rules for Real Estate

  • The Government of Maharashtra has approved the Unified Development Control and Promotion Regulations, (UDCPR), to strengthen and bring uniformity in the real estate construction laws of the state.
  • The new set of rules will apply on all municipal corporations, councils and nagar panchayats in the entire state except Mumbai and some neighbouring areas like hill stations, eco-sensitive zones and specified corporation areas.

Banking & Financial

♦Canara Bank launches “FX 4 U” for forex remittance via Internet Banking

Canara Bank launches “FX 4 U” for forex remittance via Internet Banking

  • Canara Bank has launched “FX 4 U” through internet banking helping users to manage and handle their forex transactions seamlessly.
  • Benefit: Bank has taken several initiatives to centralize the business process activities like account opening, Retail Loan products, forex transactions, etc. keeping in mind growing needs of customers for ease of business, standardize the service quality and reduce TOT.

Note: About Canara Bank (Syndicate Bank)

  • Headquarters: Bengaluru
  • CEO: Lingam Venkat Prabhakar
  • Tagline: Together We Can

♦Crisil revises India’s GDP forecast to -7.7% for FY2021

  • The rating agency Crisil revised India’s GDP forecast to minus 7.7 percent with a warning that we are not out of the woods yet.
  • CRISIL now sees India’s fiscal 2021 real gross domestic product (GDP) contracting 7.7% compared with a contraction of 9% forecast in September. In fiscal 2022, GDP growth is expected to spurt to 10%, led by a very weak base and some global ‘rising tide’ effect.

♦SBI raises FY21 GDP estimate to -7.4% from -10.9% earlier

  • State Bank of India (SBI) Research has tempered its projection of India’s FY21 growth contraction to 7.4% from -10.9% earlier, on account of its nowcasting model which includes 41 high frequency indicators.
  • Over half or about 58% of these indicators, such as revenue earning of freight traffic, weekly food arrival and petrol and diesel consumption showed acceleration in the third quarter. READ India’s GDP Growth Forecast FY 2020 and 2021 by various Financial Organizations……………….


♦RBI re-appoints Uday Kotak as MD of Kotak Mahindra Bank

RBI re-appoints Uday Kotak as MD of Kotak Mahindra Bank

  • The Reserve Bank of India (RBI) has approved the re-appointment of Uday Kotak as Managing Director of Kotak Mahindra Bank for a further period of three years, with effect from January 1, 2021.
  • RBI has also approved the appointment of part-time chairman Prakash Apte and Dipak Gupta as Joint MD of the bank for a period of three years.

Note: About Kotak Mahindra Bank

  • Establishment:2003.
  • Headquarters: Mumbai, Maharashtra.
  • Tagline: Lets make money simple.


♦Six environmental trailblazers honoured as UNEP “Champions of the Earth”

Six environmental trailblazers honoured as UNEP "Champions of the Earth"

  • The UN Environment Programme (UNEP) announced six laureates of the 2020 Champions of the Earth award, the UN’s highest environmental honour.

The 2020 Champions of the Earth in alphabetical order are:

  • Prime Minister Frank Bainimarama of (Fiji), honoured in the Policy Leadership category for his global climate action work and his commitment to climate-responsive national development
  • Dr. Fabian Leendertz (Germany), honoured in the Science and Innovation category for his discoveries in zoonotics and his work in One Health
  • Mindy Lubber (USA), recognized in the Entrepreneurial Vision category for her commitment to turning capital markets green by mobilizing top investors and companies and making the business case for climate action and sustainability
  • Nemonte Nenquimo (Ecuador), awarded in the Inspiration and Action category for her leadership and unifying work with indigenous communities that halted drilling in Ecuador’s Amazon rainforest
  • Yacouba Sawadogo (Burkina Faso), also honoured in the Inspiration and Action category for teaching farmers his traditional nature-based solution to regenerate their soil and turn barren land into arable land and forest across Africa.
  • Professor Robert D. Bullard (USA) who was awarded the Champion of the Earth Lifetime Achievement award for his commitment and service to environmental justice.

Note About “Champions of the Earth”

  • The Champions of the Earth award is the UN’s highest environmental honour, annually recognizing outstanding leaders from government, civil society and the private sector The Champions of the Earth inspire, defend, mobilize and act to tackle the greatest environmental challenges of our time
  • This year’s awards recognise laureates in the categories of Lifetime Achievement, Inspiration and Action, Policy Leadership, Entrepreneurial Vision and Science and Innovation.


♦Goa Shipyard Limited launched the fifth and final Offshore Patrol Vessel ICGS “Saksham”

Goa Shipyard Limited launched the fifth and final Offshore Patrol Vessel ICGS "Saksham"

  • The Goa Shipyard Limited recently launched the fifth and final Offshore Patrol Vessel ICGS (Indian Coast Guard Ship) Saksham. It is to be commissioned by October 2021.
  • The Project was launched by PM Narendra Modi in 2016. Under the project, five Indian Coast Guard Ships are to be launched. Two Offshore Patrol Vessels have already been commissioned namely ICGS Sachet, ICGS Sujeet, ICGS Sajag, ICGS Sarthak.

About the Offshore Patrol Vessels

  • These Patrol Vessels are armed with 30-mm guns.
  • They weigh 2,350 tonnes.
  • The hull of these vessels is designed to provide high fuel efficiency, sea-keeping qualities and crew comfort.
  • They are equipped to handle emergencies.
  • The OPVs are to be equipped with Quick Response Boats for anti-piracy and rescue operations
  • These ICGS are to be deployed in protecting the Exclusive Economic Zone of India.

Important Day

16 December- Vijay Diwas

Vijay Diwas 2020: All you need to know about 1971 Indo-Pak war

  • Each year, December 16 is celebrated as ‘Vijay Diwas’ to commemorate India’s victory over Pakistan in 1971. The victory is unique and unparalleled as it was on this day that 93,000 Pakistani troops surrendered to the Indian Army eventuating in subsequent secession of East Pakistan into Bangladesh.
  • The end of the war also resulted in the unilateral and unconditional surrender of the Pakistan Army and subsequent secession of East Pakistan into Bangladesh. READ MORE………


♦Renowned Malayalam writer UA Khader passes away

  • Renowned writer UA Khader, whose novels and stories over the last five decades in Malayalam are considered among the finest published works in the language, passed away at a private hospital in Kozhikode at the age of 85.
  • Khader won the Kerala Sahitya Akademi Award in 1983 and the Kendra Sahitya Akademi Award in 2009 for his most acclaimed work ‘Thrikkottur Peruma’.

♦Padma Vibhushan awardee and eminent aerospace scientist Roddam Narasimha passes away

  • Eminent aerospace scientist and Padma Vibhushan awardee Roddam Narasimha died at a private hospital in Bengaluru on December 14.He was 87.
  • Considering his contribution, the central government bestowed on him Padma Vibhushan, the second-highest civilian award of India, in 2013. According to his family friends, Narasimha was in the league of the Missile Man of India and former president Dr. A.P.J. Abdul Kalam.

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