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Current Affairs 26 November 2020
Daily Current Affairs 26 November 2020: This post contains the latest current affairs for 26 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.
Banking & Economy
Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited
- The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the amalgamation of crisis-ridden Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL) on 25 November 2020.
Earlier, on November 17, RBI proposed the merger of LVB with DBS India and also imposed a 30-day moratorium on LVB, restricting cash withdrawal at Rs 25,000 per depositor. It also superseded the Board of Directors of the lender.
- However, with the merger now there will no further restrictions on the depositors regarding the withdrawal of their deposit.
- Under the ‘Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited’, DBS would invest Rs 2,500 crore in the equity of the bank, to improve the capital position of the merged entity.
- With this merger, the 94-year-old lender LVB will cease to exist and the entire paid-up capital of the bank will be written-off.
- DBIL is a wholly-owned subsidiary of Singapore based DBS Bank Ltd.
- The merger will increase the branches of DBIL to around 600 from the current 27 branches.
- LVB will also help to add retail and SME (small and medium enterprises) customers to DBS Bank India’s mostly corporate and SME-focused loan book.
India Post Payments Bank launches PM Jeevan Jyoti Bima Yojana
- India Post Payments Bank (IPPB) has launched a low-cost insurance scheme ‘Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)’ for its customers to bring large sections of the underserved and unserved population into the financial mainstream.
- IPPB has collaborated with PNB MetLife India Insurance Company for this product.
Key features of PMJJBY
- Objective: To provide protection and financial security to the poor and underprivileged, especially in unbanked and remote areas of India, in the unforeseen and unfortunate event of the loss of a family member who is primarily the breadwinner.
- Who can be the beneficiary? Anyone who has a savings account with IPPB.
- Age limit: Minimum age 18 years and a Maximum age 50 years
- Sum assured: the maximum coverage of Rs 2,00,000 per life irrespective of multiple accounts/multiple certificates of insurance held under the PMJJBY scheme.
- Premium: Rs 330 to be paid annually
- Maximum maturity age : Completion of 55 years (Age near Birthday)
National
Union Minister Narendra Singh Tomar inaugurates Phagwara Mega Food Park in Punjab
- Shri Narendra Singh Tomar , the Union Minister for Food Processing Industries, Agriculture and Farmers Welfare, Rural Development and Panchayati Raj virtually inaugurated the Mega Food Park (MFP) at Phagwara in Kapurthala district of Punjab on 24 November 2020.
- The Phagwara Mega Food Park is built at a cost of Rs 107.83 crores.
- It is spread over land area of 55 acres.
- The park is expected to benefit about 25000 farmers and generate employment of about 5000 persons.
- This newly set up Mega Food Park is equipped with Raw Material/Finished goods Warehouses (3944Sqm), Silos (20000 MT), Cold Storage (3000 MT), IQF & Deep Freezer (IQF: 2 MT/hr + Deep Freezer: 2000 MT) & other related food processing facilities.
Himachal Pradesh Government Launches ‘Him Suraksha Abhiyan’ to collect real-time data on the health profile of entire state
- Himachal Pradesh Chief Minister Jairam Thakur launched ‘Him Suraksha Abhiyan’ on 24 November 2020.
- The Him Suraksha campaign aims at sensitizing the people regarding Covid-19 pandemic and also to collect information regarding symptoms of other diseases like TB, Leprosy, sugar and blood pressure.
- The month long campaign would take place from 26 November to 27 December 2020.
- Under this, about 8000 teams would be constituted comprising of Health, Ayurveda, Women and Child Development, Panchayati Raj Departments, District Administration and NGOs.
- They would carry on door to door campaign for data collection of health parameters of the people, including both, symptomatic patients with probable Covid-19 as well as patients with other ailments.
Tenth edition of National Science Film Festival kicks off virtually
- The tenth edition of prestigious National science film festival kicked off on 24th November 2020 in a virtual mode.
- The four-day long film festival has been jointly organized by Vigyan Prasar, an autonomous agency under the Department of Science and Technology, Govt. of India and the Tripura State Council of Science and Technology, Govt. of Tripura from 24 to 27 November 2020.
- A total of 372 films in different languages were received for participation, of which 115 films have been shortlisted by the ten-member jury to be screened during the festival.
- These films are in Hindi, English, Urdu, Malayalam, Kashmiri, Bengali, Marathi, Punjabi and Tamil languages.
- The science film festival offers a unique platform to showcase the science films made by professionals, amateur and student filmmakers under various themes, to promote science films in India.
DRDO flags off first ‘Varunastra’ Heavy Weight Torpedo for Indian Navy
- The Defence Research and Development (DRDO) Chairman G Satheesh Reddy flagged off the first Production unit of Heavy Weight Torpedo (HWT), Varunastra on 21 November 2020.
- The Varunastra has been designed and developed by Naval Science & Technological Laboratory (NSTL) of DRDO while Bharat Dynamics Limited (BDL), Vishakhapatnam has manufactured the torpedo for the Indian Navy.
- Varunastra is a ship launched, heavyweight, electrically propelled anti-submarine torpedo.
- It can be launched from ships that can fire heavy weight torpedoes to engage quiet submarines in deep and shallow waters.
Appointment
New Zealand’s Greg Barclay elected new ICC Chairman
- Greg Barclay, an Auckland-based commercial lawyer and director of New Zealand Cricket (NZC) since 2012, has been elected as the new chairman of the International Cricket Council (ICC) on 24 November 2020, after a second round of voting.
- He succeeds India’s Shashank Manohar who stepped down in July 2020 and will replace Imran Khwaja, who is currently the interim chairman.
- He was serving as NZC’s representative on the board of the International Cricket Council and had also served as the director of ICC Men’s Cricket World Cup 2015.
Days
National Milk Day: 26 November
- In India, November 26 is celebrated as National Milk Day, since 2014, to commemorate the birthday of the father of India’s White Revolution, Dr. Verghese Kurien (also nicknamed as Milkman of India).
- The day was fixed by all the dairy majors of the country including the National Dairy Development Board (NDDB), the Indian Dairy Association (IDA), along with 22 state level milk federations.
Indian Constitution Day: 26 November
- The President of India, Shri Ram Nath Kovind, inaugurated the Indian Constitution Day celebrations on November 26, 2018 in New Delhi, organised by the Supreme Court, to mark the anniversary of the adoption of our Constitution.
- On 26 November 1949, the Constituent Assembly of India adopted the Constitution of India, and it came into effect on 26 January 1950.
Important Facts
- Constitution Day (National Law Day), also known as Samvidhan Divas, is celebrated in India on 26 November every year to commemorate the adoption of Constitution of India.
- Previously this day was celebrated as Law Day
- The Government of India under Prime Minister of India Narendra Modi declared 26 November as Constitution Day on 19 November 2015.
- The declaration was made on 11 October 2015 while laying the foundation stone of the B. R. Ambedkar memorial in Mumbai.
- The year of 2015 was the 125th birth anniversary of Ambedkar, who had chaired the drafting committee of the Constituent Assembly and played a pivotal role in the drafting of the constitution.
Obituary
Veteran Congress leader Ahmed Patel passes away following Covid complications
- Senior Congress leader Ahmed Patel, who was the political secretary to Congress President Sonia Gandhi, has passed away, after testing positive for Covid-19. He was 71.
- His full name was Ahmedbhai Mohammedbhai Patel.
- Patel has represented Gujarat for eight terms in the Parliament of India, from 1977 to 2020, which included three times in the lower house or Lok Sabha and five times in the upper House or Rajya Sabha.
- He was also the treasurer of the All India Congress Committee.
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