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Daily Current Affairs 03rd Oct 2020

To prepare for any competitive exam, one of the important sections to read and learn is current affairs. Exams like UPSC, Bank, SSC, RRB or any Government

Mukesh Ambani topped the IIFL Wealth Hurun India Rich List 2020

  • Mukesh Ambani, chairman of Reliance Industries Limited (RIL) topped the IIFL Wealth Hurun India
  • Rich List 2020 with the total wealth of 6,58,400 Cr.
  • He retains this position for the 9th consecutive year.
  • Hinduja brothers secured the second spot and Shiv Nadar & family secured the third spot.
  • Smita V Crishna, who ranked 28th spot overall is the richest woman in the list followed by Kiran
  • Mazumdar-Shaw, Biocon founder, who is also the richest self-made women in India.

Surjeet Singh Deswal DG of ITBP was given additional charges as DG of National Security Guard

  • Surjeet Singh Deswal, Director General of Indo-Tibetan Border Police (ITBP) has been given the additional charges as the DG of the Counter Terror Force National Security Guard(NSG) following the retirement of Anup Kumar Singh(AK Singh), incumbent chief of NSG
  • This is the second time for Deswal to have the position of DG of NSG in an additional capacity

Union Minister Thaawarchand Gehlot launches "Ambedkar Social Innovation & Incubation Mission (ASIIM)"

  • Union Minister for Social Justice and Empowerment, Thaawarchand Gehlot virtually launched "Ambedkar Social Innovation and Incubation Mission (ASIIM)" under Venture Capital Fund for Scheduled Castes (SC) (VCF-SC).
  • It has been launched to promote innovation, enterprise among SC students in Higher Education Institutions and to help them become Job Givers.
  • Objectives
  • To promote Entrepreneurship among SC Youth with focus on Divyangs (Person with Disabilities).
  • To provide support for 1000 Innovative ideas (till 2024) through Technology Business
  • Incubators (TBS) to promote, support start-up ideas till commercial stage through liberal equity support. To Encourage students with an innovative mind-set to take entrepreneurship

Union Minister Thaawarchand Gehlot launches "Ambedkar Social Innovation & Incubation Mission (ASIIM)"

  • The youth will be funded INR 30 Lakhs in 3 years to implement their start-up ideas into commercial ventures.
  • The successful ventures will qualify for Venture Funding of up to INR 5 Crores from VCF-SC
  • About Ministry of Social Justice & Empowerment
  • Union Minister - Thaawarchand Gehlot
  • Minister of State (MOS) - Krishan Pal Gurjar, Rattan Lal Kataria, Ramdas Athawale

Dr. Harsh Vardhan has launched CSIR Technologies for Rural Development under the Joint Initiative of IIT Delhi, UBA, VIBHA & CSIR

  • Dr. Harsh Vardhan, Union Minister of Science & Technology, Earth Sciences and Health & Family Welfare launched a set of Council of Scientific & Industrial Research (CSIR) technologies for rural development under the joint initiative of CSIR, Unnat Bharat Abhiyan (UBA), Indian Institute of Technology Delhi (IITD) and Vijnana Bharti (VIBHA).
  • This was done over a virtual event organized on the occasion of the 40th Foundation Day of CSIR National Institute of Science, Technology and Development Studies (CSIR-NISTADS), a constituent laboratory of CSIR.
  • The CSIR technologies were released under the tripartite Mou signed among CSIR, UBA and VIBHA in July 2020 at CSIR with an aim to cooperate in the post COVID fast track action plan to create opportunities in the rural region.

About CSIR

  • Director General - Dr. Shekhar C. Mande
  • HQ - New Delhi

"The Biodiversity map of Mumbai": first of its Kind Map on Mumbai's Rich Flora & Fauna

  • "The Biodiversity map of Mumbai" made by Rohan Chakravarty, artist and cartoonist is a first of its
  • kind map on the rich flora and fauna of Mumbai.
  • This map was created for the 'Biodiversity by the Bay campaign initiated by the Ministry of Mumbai's
  • Magic (MMM), a youth collective for climate action with an intention to inspire pride in al the
  • biodiversity treasures of Mumbai.

Agnikul Cosmos + Alaska Aerospace Signed MoU for Test-Launch Of Its 'Agnibaan' Rocket

  • Indian Aerospace Startup Agnikul Cosmos signed a Memorandum of Understanding (MoU) with Alaska Aerospace Corporation to test launch Indian made Agniban Rocket from Pacific Spaceport Complex Alaska (PSCA) on Kodiak Island in the United States.
  • As per the agreement, Agnikul Cosmos will test-launch its' Agniban rocket from Alaska Aerospace's Pacific Spaceport Complex Alaskar on Kodiak Island in the US.
  • Agnikul Cosmos, which is developing a small rocket with a capacity to carry 100 kg satellite into low earth orbit, said that the ability to launch from high latitude launch ports is a significant advantage.

About AgniKul Cosmos

  • Ca-Faunders Srinath Ravichandran, Moin SPM Location - Chennai, Tamil Nadu

Crown prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah Sworn in as Kuwait's New Emir

  • 83 year-old Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Crown prince of Kuwait swom in as new emir (16th Emir of Kuwait) during a session of the National Assembly in Kuwait.
  • He succeeds Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah who died on September 29, 2020 in the United States.

About Kuwait

  • Capital - Kuwait City Currency - Kuwaiti dinar

India set to build Cancer Hospital, Cricket Stadium in Maldives

  • India will build a 100-bedded Cancer Hospital and 22,000-seater Cricket Stadium, in Hulhumale (Maldives) under USD 800 Million Line of Credit (LOC) extended to Maldives in 2019.
  • The Export-Import Bank (EXIM) of India extended the LOC for development of infrastructure projects in Maldives

About Republic of Maldives

  • Capital - Male
  • President Ibrahim Mohamed Solih
  • Currency - Maldivian Rufiyaa

UN General Assembly - 75th session 15-30 September 2020 held virtually for first time

  • The 75th session of the United Nations General Assembly was held virtually for the first time amid
  • COVID -19
  • It was hosted by the United States of America (USA) from New York and under the Presidency of
  • Volkan Bozkir of Turkey.
  • The event was held under the theme "The Future We Want, the UN We Need: Reaffirming our Collective Commitment to Multilateralism" while the theme of the session was "The future we want, the United Nations we need, reaffirming our collective commitment to multilateralism - confronting the COVID-19 through effective multilateral action ".

Govt of india has set up a Panel to screen all Chinese Foreign Investment Proposals

  • Gol has set up a screening panel to examine all Chinese foreign investment proposals.
  • The panel is headed by the home secretary, Ajay Kumar Bhalla and secretary of the Department for
  • Promotion of Industry and Internal Trade (DPIIT) as a member.
  • After the committee examines the proposals on the perspective of ownership and its implications for
  • security, the proposal may be approved if they are not controversial.

New Development Bank approved loan for Mumbai Metro & Delhi-Meerut RRTS Project

  • New Development Bank(NDB) of BRICS (Brazil, Russia, India, China and South Africa) Nations approved USD 241 Million (approximately INR 1760 Crores) for Mumbai Metro Rail Project, and USD 500 Million (approximately INR 3670 Crores) for Delhi- Ghaziabad-Meerut Regional Rapid Transit System Project

NABARD to undertake Sanitation Literacy Campaign to promote literacy on "WASH"

  • The National Bank for Agriculture and Rural Development (NABARD) to undertake a Sanitation Literacy Campaign (SLC) to promote literacy on "WASH"   (Water, Sanitation and Hygiene) in 2,000 villages across the country covering 1 lakh rural population.
  • SLC will start from October 2, 2020 to January 26, 2021.
  • SLC focuses to inculcate significant behavioral changes to adapt good hygiene and sanitation practices.
  • NABARD under the Swachh Bharat Mission has supported the Gol to construct 3.29 crore household toilets by sanctioning and disbursing Rs 15,000 crore and Rs 12,298 crore.

SBI + HUL → Signed MoU for providing Digital Payment Solutions to retailers and distributors

  • SBI and Hindustan Unilever signed an MoU to provide Digital Payment Solutions and Financing Solutions to HUL's retailers and distributors.
  • The Partnership will accelerate the adoption of digital payments among small-scale entrepreneurs and retailers in all parts of the country.

About SBI

  • Chairman - Rajnish Kumar
  • * Tagline - The Nation banks on us: Pure Banking Nothing Else: With you all the way
  • HQ - Mumbai
  • About HUL
  • > Chairman & Managing Director - Sanjiv Mehta
  • HQ Mumbai

SBI + HUL → Signed MoU for providing Digital Payment Solutions to retailers and distributors

  • MoU details
  • As part of the MoU, SBI will provide instant paperless overdraft facility up to INR 50,000 to retailers for their billings and financing facilities to HUL's Distributors.
  • SBI will install point of sale (PoS) machines at multiple HUL touch points across the country to ensure that it reaches customers in smaller towns.
  • It will also provide Unified Payments Interface (UPI) -based solutions to HUL retailers to ensure hassle free, safe and instant cashless payments to dealers through HUL's retailer application 'Shikhar'.
  • The process of availing credit will be made simple through the integration of SBI's YONO Platform and HUL Shikhar app

As per RBI, Gol's WMA Limit for 2nd half of FY 2020-21 fixed at Rs 1,25,000 Crore

  • RBI in consultation with the Gol has fixed Rs 1,25,000 crore as the Ways and Means Advances (WMA) limit for the 2nd half of the FY 2020-21, i.e., October 2020 to March 2021.
  • When GOl utilizes 75% of the WMA limit, RBI may trigger fresh floatation of market loans.
  • Interest Rate on WMA / Overdraft - The interest rate on WMA is equal to the repo rate (current repo rate is 4%). In case of overdraft, the interest rate is 2% above the repo rate.
  • WMA limit of 1st half of FY21 - RBI, in consultation with Gol had increased the WMA limit of the Govt for the remaining part of the 1st half of the FY21 (April 2020 to September 2020) from Rs 1.20 lakh crore to Rs 2 lakh crore.
  • The RBI under Section 17 (5) of the RBI Act, 1934, provides Ways and Means Advances (WMA) to the states banking with it to help them to tide over temporary mismatches in the cash flow of their receipts and payments.

RBI excluded 6 PSBs from Second Schedule of RBI Act

  • RBI excluded six public sector banks (PSBs) from the Second Schedule of the RBI Act, 1934 following their merger with other banks with effect from April 01, 2020.
  • The six banks are Syndicate Bank, Oriental Bank of Commerce, United Bank of India, Andhra Bank, Corporation Bank, and Allahabad Bank.
  • OBC and United Bank of India merged into Punjab National Bank; Syndicate Bank into Canara Bank: Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank.