Latest Current Affairs Daily Update

20th Dec 2020 Current Affairs Headlines

Important Days

Goa Liberation Day: 19 December

Goa Liberation Day is observed on 19 December every year in India and it marks the day Indian armed forces freed Goa in 1961 following 450 years of Portuguese rule.

Goa Liberation Day is marked by an abundance of events and festivities in Goa though this time because of the pandemic the celebrations are expected to be muted.

A torchlight procession is ignited from three different locations in the state, eventually all meeting at the Azad Maidan.

The Portuguese colonised several parts of India in 1510 but by the end of the 19th-century Portuguese colonies in India were limited to Goa, Daman, Diu, Dadra, Nagar Haveli and Anjediva Island.

Useful notes for all competitive exams:

  • Goa Capital: Panaji.
  • Governor of Goa: Bhagat Singh Koshyari.
  • Chief Minister of Goa: Pramod Sawant.

National Headlines

Mega leather park with Rs 5,850 cr investment to come up in Kanpur

Mega leather park to come up in Ramaipur village of Kanpur with an investment of Rs 5,850 crores.

The park, part of the mega leather cluster project will create 50,000 direct jobs & indirect employment for 1.5 lakh people.

Recently, the project has received approval from the Union Commerce Ministry. The mega leather cluster project will attract an investment of about Rs 13,000 crores.

Useful notes for all competitive exams:

  • Uttar Pradesh Capital: Lucknow.
  • Uttar Pradesh Governor: Anandiben Patel.
  • Uttar Pradesh Chief minister: Yogi Adityanath.

Agreement News

SBI General Insurance, IntrCity RailYatri partner to offer ₹5L travel cover

SBI General Insurance partnered with IntrCity RailYatri, to provide travel insurance of ₹5 lakh on tickets for bus commuters opting to travel through IntrCity RailYatri. The travel cover is offered on buying the ticket.

Under this partnership, SBI General insurance will provide a wide variety of coverage including accidental death, permanent total disability, and medical evacuation.

Useful notes for all competitive exams:

  • SBI General Insurance CEO: PC Kandpal.
  • IntrCity RailYatri CEO: Manish Rathi.

Economy News

ICRA Projects Indian economy to contract 7.8% in FY21

The domestic rating agency, ICRA Ratings expects the technical recession in the country’s economy to end in the fourth quarter of the current fiscal, limiting the contraction in the GDP to 7.8 per cent in the financial year 2021.


Banking News

RBI imposes Rs 50 lakh fine on Urban Co-operative Bank in Kerala

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 50.00 lakh on The Urban Co-operative Bank Ltd in Kerala.

This fine is imposed for non-compliance with directions issued on Income Recognition and Asset Classification (IRAC) norms and on Management of Advances-UCBs.

Statutory inspection of the bank with reference to its financial position as on March 31, 2019, conducted by RBI, revealed that the bank had not complied with the directions, the central bank said in a statement.

A notice was issued to the bank asking why penalty should not be imposed for non-compliance with the directions issued by RBI.

Useful notes for all competitive exams:

  • RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

Business News

GoI and ADB sign 4.21 million dollar PRF facility for Tripura

The Government of India and the Asian Development Bank (ADB) have signed a US $4.21 million project readiness financing (PRF) facility for the preparation of infrastructure development projects to improve urban amenities and develop tourism infrastructure in Tripura. This is ADB’s first PRF facility for a state in the northeastern region of India.

The facility will support the Tripura Government’s priorities of improving urban services and tourism infrastructure that will help boost economic development.

The facility aims to ensure high readiness of ensuing infrastructure projects through feasibility studies, preparing detailed engineering designs, and capacity building of state-level agencies while ensuring climate and disaster resilience and sustainability of sub-projects.

Paytm launches 24×7 RTGS money transfer for merchants

Digital financial services platform Paytm has launched a 24×7 RTGS facility to support the companies that make high-value transactions.

It also enables businesses to make bulk and instant money transfers to their employees, vendors & partners. Customers can instantly make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets through Paytm Payouts’ APIs and Paytm for Business Dashboard.

Paytm Payout is the only service provider that offers seamless round the clock money transfers through Wallet, UPI, IMPS, NEFT & RTGS.

Useful notes for all competitive exams:

  • Paytm HQ: Noida, Uttar Pradesh;
  • Paytm Founder & CEO: Vijay Shekhar Sharma.

ADB and India sign $300 million loan to upgrade power projects in UP

The Asian Development Bank (ADB) has signed $300 million loan agreement with the Government of India to upgrade rural power distribution networks in Uttar Pradesh.

This upgradation helps to provide reliable electricity supply to consumers in the state. This is the first tranche of the loan for the Uttar Pradesh Power Distribution Network Rehabilitation Project.

Overall, the $430 million multi-tranche financing facility (MFF) has been approved for the project constituting two tranches.

The project envisages conversion of 65,000 kilometres (km) of rural low-voltage distribution lines from bare conductors to aerial bundled conductors (ABC) to create a robust distribution network that will benefit an estimated 70 million people in 46,000 villages.


Ranks and Reports

India ranks 111 in Human Freedom Index 2020

A worldwide ranking of civil, economic and personal freedom, the Human Freedom Index 2020 was released. India was placed at the 111th spot out of 162 countries. In 2019, India ranked 94 on the index.

The first three spots have been bagged by New Zealand, Switzerland and Hong Kong. The United States and the United Kingdom are tied at the 17th spot on the index. War-torn Syria ranked the last on the list.

India’s scored 6.30 out of 10 in personal freedom and 6.56 in economic freedom. The country’s overall human freedom score was 6.43.

However, India has been ranked ahead of China and Bangladesh, which ranked 129 and 139 on the 2020 index respectively.


Awards News

India’s Vidyut Mohan named among ‘Young Champions of the Earth’ by UNEP

Vidyut Mohan was one of the “Young Champions of the Earth” winners by United Nations Environment Programme.

A 29-year-old Indian entrepreneur is among the seven winners of the prestigious “Young Champions of the Earth” 2020 prize given by the UN environment agency to global change-makers using innovative ideas and ambitious action to help solve some of the world’s most pressing environmental challenges.

The prize is annually awarded to 7 entrepreneurs under age 30.

Ratan Tata to be honoured with ‘Global Visionary of Sustainable Business and Peace’ award

Veteran industrialist, Ratan Tata will be honoured by the Indo-Israel Chambers of Commerce for promoting innovation that supports sustainability and peace in the region, including with the Palestinians.

The chairman emeritus of the Tata group will be honoured with ‘Global Visionary of Sustainable Business and Peace’ award during the launch of the Federation of Indo-Israel Chamber of Commerce’s international chapter in Dubai on December 21.


Sports News

Mohammad Amir announced his retirement from international cricket

Pakistan’s star pacer, Mohammad Amir has announced his retirement from international cricket citing ‘mental torture’ by the management as the reason behind his decision. Left-arm fast bowler Amir made his international debut in July 2009.

In his ODI debut, in the same month, Amir bagged 3 wickets for 45 runs in his 10 overs, announcing the start of a star career. However, his potentially big career was hindered by his infamous match-fixing involvement with Salman Butt and Mohammad Asif.


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