Roadmap for Banking of the Future
Current Affairs 02 & 03 November 2020
Daily Current Affairs 02 & 03 November 2020: This post contains the latest current affairs for 02 & 03 November 2020 that are important for all competitive exams like Bank, SSC, IBPS, SBI exams. You can also attempt our Current Affairs Quiz after reading our daily current affairs.
National
India’s first-ever E-resource centre and virtual court “Nyay Kaushal” inaugurated in Nagpur
- The Chief Justice of India (CJI) Sharad Arvind Bobde and Justice DY Chandrachud of the Supreme Court, jointly inaugurated India’s first-ever E-resource centre and virtual court called “Nyay Kaushal” at Judicial Officers Training Institute in Nagpur.
- The Nyay Kaushal will facilitate electronic-filling of cases in the Supreme Court, any High Court as well as district courts across the country to enable speedy justice for litigants, by utilising technology.
- The virtual court will be working from Katol in Nagpur district of Maharashtra.
India’s 1st solar-powered miniature train launched at Veli village, Kerala
- India’s first of its kind solar energy-driven miniature train was inaugurated at the Veli Tourist Village, Kerala by Chief Minister Pinarayi Vijayan.
- It is a Rs 10 crore project and covers a distance of 2.5 km with 3 bogies. It features a fully- equipped rail system, including a tunnel, station and a ticket office.
Ministry of AYUSH to form strategic policy unit named “Strategic Policy & Facilitation Bureau (SPFB)
- Ministry of AYUSH has collaborated with M/s Invest India to set up a strategic policy unit called “Strategic Policy & Facilitation Bureau (SPFB)”.
- The role of the “Strategic Policy & Facilitation Bureau (SPFB)” will be to facilitate planned and systematic growth of the Ayush Sector.
- Under the collaboration, Invest India would deploy highly trained and expert resources to implement and execute the plans of the Ministry of AYUSH.
8 states and 5 UTs observe foundation day on November 01
- On November 01, 2020, 8 states in India and 5 Union Territories observed their foundation day. These states and Union Territories are as under:
- States– Andhra Pradesh, Chhattisgarh, Haryana, Karnataka, Kerala, Madhya Pradesh, Punjab and Tamil Nadu.
- Union Territories– Andaman and Nicobar Islands, Chandigarh, Delhi, Lakshadweep and Puducherry.
Kerala best-governed state while Chandigarh top union territory: PAC Report
- Kerala has been adjudged the best-governed state in the country, while Chandigarh emerged the best-governed union territory according to the Public Affairs Index-2020 released by the Public Affairs Centre.
- The Public Affairs Centre is a not-for-profit research think tank situated in Bengaluru, Karnataka. It works at improving the quality of governance in India.
- In states, Uttar Pradesh has been ranked last. In the small state category, Goa has been ranked first.
AAI hands over Lucknow airport to Adani group on lease for 50 years
- The Airports Authority of India (AAI) has handed over the Lucknow airport to the Adani group on lease for a period of 50 years. Apart from this, Adani group has taken over/will take over operations of 5 more airports.
- In February 2019, the Central Govt had privatised six major airports of the country namely Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.
- The right to run all these 6 airports has been won by Adani Group for 50 years.
- Adani group has taken over the operations of Jaipur, Guwahati and Thiruvananthapuram in September 2020, Mangaluru on October 31, 2020, Lucknow on November 02, 2020 and will take on the operations of Ahmedabad Airport on November 11, 2020.
International
Typhoon Goni (strongest typhoon of 2020) hits the Philippines
- Typhoon Goni, claimed as the world’s strongest typhoon of 2020 has hit the south of the Philippines’ main island of Luzon.
- Goni is one of the strongest storms to hit the Philippines since 2013’s Haiyan, which killed more than 6,300 people.
Agreement
IISc and Indian Oil R&D inks MoU for hydrogen-generation technology
- The Indian Institute of Science (IISc) and the Research and Development Centre of Indian Oil Corporation Limited (IOCL) have signed an MoU to develop and demonstrate biomass gasification-based hydrogen generation technology.
- This technology will be used for producing fuel cell-grade hydrogen at an affordable price.
- Under the MOU, the IISc and IndianOil will work jointly on the optimisation of both biomass gasification and hydrogen purification processes,
- The developed technology will be scaled up and demonstrated at IndianOils R&D Centre at Faridabad.
- Hydrogen generated from this demonstration plant will be used to power fuel cell buses.
Banking & Economy
e-Invoice system under GST launched for businesses with turnover more than Rs. 500 Crores
- Ministry of Electronics & IT along with NIC had launched the e-invoice system for GST on 1st October 2020 for the businesses with aggregate turnover of more than Rs. 500 Crores in the financial year.
- The system has completed one month and will be a milestone in India’s journey in enhancing the ease of doing business.
Govt provides support of Rs 670 crore to Regional Rural Banks to meet regulatory capital
- The Central Government has provided support of Rs 670 crore to Regional Rural Banks (RRBs) operating in the country to help them meet the regulatory capital requirement of 9%.
- At present 43 Regional Rural Banks are operating in the country. Around one-third of them are in loss and considering their importance in agriculture finance during these difficult times it was important to provide this support.
Government extends Emergency Credit Line Guarantee Scheme till November 30, 2020
- Central Government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) by one month till November 30th, 2020, or till such time that an amount of Rs. 3 lakh crore is sanctioned under the Scheme.
- The ECLGS was announced as part of the Aatma Nirbhar Bharat Package of Central Government to provide fully guaranteed and collateral-free additional credit to MSMEs, business enterprises, individual loans for business purposes and MUDRA borrowers.
- The limit of credit be upto 20% of their credit outstanding as on 29.2.2020. Till now Rs. 2.03 lakh crore has been sanctioned under the Scheme.
Axis Bank to buy 19.002% stake in Max Life against 17% earlier
- Axis Bank has announced that it will acquire 19.002% stake in Max Life as against 17.002% stake decided earlier.
- The decision has been taken after, the RBI rejected Axis Banks proposal to buy 17.002% stake in Max Life.
- Now under the revised scheme, Axis Bank along with its subsidiaries Axis Capital and Axis Securities will acquire a total of 19.002% stake in Max Life.
- The further bifurcation of this 19.002% is as follows. Axis Bank will acquire up to 9.002% of the equity share capital of Max Life. While, Axis Capital and Axis Securities together will acquire up to 3%of the share capital of Max Life.
CCI approves acquisition of General Insurance Business of Bharti AXA by ICICI Lombard
- The Competition Commission of India (CCI) has approved the acquisition of General Insurance Business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited (ICICI Lombard) under Section 31(1) of the Competition Act, 2002.
- Bharti AXA is a general insurance company registered with the IRDAI and is a joint venture held by Bharti General Ventures Private Limited (51%) and Societe Beaujon (49%).
- The merger would result in an entity with a combined annual premium of Rs 16,447 crore and a market share of nearly 8.7%.
Books & Author
Book titled “Pandemonium: The Great Indian Banking Tragedy” authored by Tamal Bandyopadhyay to be out soon
- Tamal Bandyopadhyay has authored a book titled “Pandemonium: The Great Indian Banking Tragedy” and will be released on November 09, 2020.
- This book is a bird’s-eye view of Indian banking and also a fly-on-wall documentary.
Award
Malayalam Writer Paul Zacharia selected for Ezhuthachan Puraskaram 2020
- Noted Malayalam writer Paul Zacharia has been selected for 2020 Ezhuthachan Puraskaram, for his contribution to Malayalam literature during the past five decades.
- Ezhuthachan Puraskaram is the Kerala government’s highest literary honour, named after Ezhuthachan, the father of the Malayalam language.
- The award carries a cash prize of Rs 5 lakh and a citation.
Sports
Lewis Hamilton wins F1 Emilia Romagna Grand Prix 2020
- Lewis Hamilton (Mercedes-Great Britain) has won the Emilia Romagna Grand Prix 2020 held on November 01, 2020. This was his 9th win of the season and 93rd F1 win of his career.
- Valtteri Bottas finished second while Daniel Ricciardo finished third.
- Mercedes won the seventh consecutive constructors’ title for 2020.
Jio named title sponsor for 2020 Women’s T20 Challenge
- The Board of Control for Cricket in India (BCCI) has announced Jio as the title sponsor for the 2020 edition of the Women’s T20 Challenge.
- The Women’s T20 Challenge will be held from November 4 to November 9, in Sharjah, UAE.
- Three teams will compete in the Challenge with players from various nations.
Indian boxers Amit Panghal, Sanjeet and Ashish Kumar win gold at the Alexis Vastine International 2020
- Indian boxers Amit Panghal, Sanjeet and Ashish Kumar have claimed gold medals at the 2020 Alexis Valentine International Boxing Tournament held in Nantes, France.
- This was the first international tournament in which Indian boxers were a part, since the lockdown.
- Amit Panghal won the gold in the 52 kg-weight category,
- Sanjeet won in the 91 kg final bout
- Ashish Kumar won the gold medal in the 75 kg weight category.
- Apart from this, Kavinder Singh Bisht, won silver in the 57 kg weight category.
- Three Indian boxers namely Shiva Thapa (63 kg), Sumit Sangwan (81 kg) and Satish Kumar (Over 91 kg) had secured the bronze medals for India.
Obituary
Agriculture Minister of Tamil Nadu R Doraikannu passes away at 72
- Agriculture Minister of Tamil Nadu, R. Doraikkannu, passed away at 72 due to COVID-19.
- R Doraikannu entered Tamil Nadu Assembly in 2006 elected from the Papanasam seat and retained the same in 2011 and 2016 polls.
Day
International Day to End Impunity for Crimes against Journalists : 02 November
- The International Day to End Impunity for Crimes against Journalists is observed annually on 2 November.
- Theme 2020: Protect Journalists, Protect the Truth
- The main aim of the day is to prevent all attacks and violence against journalists and media workers, and to ensure accountability, bring to justice perpetrators of crimes against journalists and media workers, and ensure that victims have access to appropriate remedies.
- The day was recognized by the UN General Assembly in December 2013.
- The date chosen by the UN marks the death of Ghislaine Dupont and Claude Verlon, two French journalists killed while reporting in Mali earlier that year.
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