Daily GK Update 28th October 2020, Daily Current Affairs 2020
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National (Current Affairs)
♦India hosts meeting of SCO Ministers handling economy and foreign trade
- India hosted the 19th Meeting of the Shanghai Cooperation Organisation (SCO) Ministers responsible for Foreign Economy and Foreign Trade Activities.
- In his opening remarks, Minister of Commerce and Industry Shri Piyush Goyal said that the current crisis due to Covid-19 is a clarion call to the SCO countries to leverage the economic strength and explore partnerships that enhance trade and investment in the region.
Note: About SCO
- Headquarters: Beijing, China
- Founded: 15 June 2001
♦India Post and United States Postal Services sign agreement for Electronic Exchange of Data
- India Post and US Postal Service (USPS) have signed an agreement on October 27, 2020 for electronic exchange of data related to postal shipments. The primary objective of the agreement is to facilitate ease of exports through postal channels.
- With this agreement, respective bodies will transmit and receive electronic data of international postal items being shipped even before their arrival. This advanced information would help the customs to clear the postal items before the shipment reaches the port.
Note: About US
- President: Donald Trump
- Capital: Washington, D.C
- Currency: Dollar
♦GoI sets up committee to commemorate 400th anniversary of Guru Tegh Bahadur
- The Centre has set up a high-level committee headed by Prime Minister Narendra Modi to commemorate the 400th birth anniversary of Shri Guru Tegh Bahadur. Union Home Secretary Ajay Kumar Bhalla will be the member secretary of the 70-member high-level committee.
- The committee will look into the approval of policies, plans, programmes and supervision and guiding the commemoration, as well as for deciding dates for detailed programmes of celebration.
Banking & Financial
♦RBI asks lending institutions to implement waiver of interest on interest schemes
- The Reserve Bank of India has asked all the lending institutions to implement the waiver of interest on interest schemes for loans up to Rs 2 crore. The lending institutions also including non-banking financial companies.
- The Reserve Bank of India had announced a moratorium on repayment of loan for six months in effect from March 1, 2020. The moratorium was provided in order to help businesses and individuals to overcome the financial problems that they faced during the COVID-19 lockdown because of disruption in normal business activities . Later, the Supreme Court had asked the Centre to implement the interest waiver scheme on loans up to Rs 2 crore under the RBI moratorium scheme on October 14, 2020.
- Interest Waiver Scheme: Under this scheme, the lending institutions have been advised to grant the difference between compound interest and simple interest to the eligible borrowers in their respective accounts for the prescribed period. The difference will be granted to all the borrower who have either fully or partially availed the moratorium announced by the RBI on March 27, 2020. The scheme covers the education loans, MSME loans, credit card dues, housing loans, consumer durable loans, auto loans and consumption loans. However, the lending institutions can claim reimbursement from the centre after they credit the amount.
♦NTPC Ltd. enters into foreign currency loan agreement with Japanese Government’s financial institution for JPY 50 billion under GREEN initiative
- In the first funding for NTPC Ltd under Japan Bank for International Co-operation (JBIC)’s GREEN or Global Action for Reconciling Economic growth and Environment preservation initiative, India’s largest power producer today entered into foreign currency loan agreement with Japanese Government’s financial institution for JPY 50 billion (approx. USD 482 million or Rs. 3,582 crore).
- JBIC will provide 60% of the facility amount and the balance will be given by commercial banks (viz., Sumitomo Mitsui Banking Corporation, the Bank of Yokohama Ltd., the San-In Godo Bank Ltd., the Joyo Bank Ltd. and The Nanto Bank Ltd.), under JBIC guarantee.
Note: About NTPC
- Founded: 1975
- Headquarters: New Delhi, India
♦Young Bangladeshi boy wins special prize in Global Art Competition conducted by ICCR
- A six year old Bangladeshi boy Anzar Mustaeen Ali won a special prize of USD 1000 for his artwork in the global art competition organised by the Indian Council of Cultural Relations (ICCR).
- The ICCR had launched a global painting competition named ‘United Against CORONA- Express through Art’ which attracted 8000 artwork entries from around the world.
♦NASA’s SOFIA Discovers Water on Sunlit Surface of Moon
- NASA’s Stratospheric Observatory for Infrared Astronomy (SOFIA) has confirmed the presence of water on the sunlit surface of the Moon. This indicates that water is not only limited to cold shadowed place but could be distributed across the lunar surface.
- About SOFIA: SOFIA is a modified Boeing 747SP aircraft. It allows astronomers to study the solar system and beyond. The study by SOFIA is different from what is studied by the ground-based telescopes.
♦NISAR Satellite to Be Launched By 2022
- The NASA-ISRO Synthetic Aperture Radar (NISAR) satellite is scheduled to be launched by 2022. This was scheduled after India and the US decided to share Space Situational Awareness Information with each other.
- This would catalyse efforts in order to create the conditions for a safe and sustainable space environment.
Note: About NASA
- Headquarters: Washington, D.C., United States
- Founded: 1 October 1958,
Note: About ISRO
- Headquarters: Bengaluru
- Founder: Vikram Sarabhai
- Founded: 15 August 1969
- Director: Kailasavadivoo Sivan
♦28 October: International Animation Day
- International Animation Day is observed globally on 28 October every year. The day has celebrated the art of animation and also recognise the artists, scientists and technicians behind animation.
- This year marks the 19th International Animation Day. The day was created in 2002 by International Animated Film Association (ASIFA), an International Animated Film Association, a member of UNESCO.
Book & Author
♦’Night of the Restless Spirits’ is author Sarbpreet Singh’s
- ‘Night of the Restless Spirits’ is author Sarbpreet Singh’s recounting of the Sikh massacre of 1984.
- The book is a fictionalised version of real happenings comprising just eight chapters. Not for the faint-hearted, Night of the Restless Spirits, shows the events of 1984 through the prism of many lives and explores its far-reaching impact on members of the community as well as on non-Sikhs associated with them.
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