22nd October 2020 Current Affairs

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22 October CA
22 October CA


22nd October 2020 Current Affairs

EXAMSDAILY

National Affairs

Cabinet Approvals on October 21, 2020

Union Cabinet chaired by Prime Minister of India Shri. Narendra Modi approved the following proposals on October 21, 2020.

Cabinet approved MoU between India-Nigeria on Space Cooperation:

  • Union Cabinet approved Memorandum of Understanding (MoU) between the Indian Space Research Organisation (ISRO) which is the national space agency of the Republic of India and the National Space Research and Development agency of Nigeria.

Cabinet approved MoU between ICAI and CPA:

The Union Cabinet has approved the MoU between the Institute of Chartered Accounts of India (ICAI) which is the national professional accounting body of India and the Certified Practising Accountants, Papua New Guinea (CPA PNG).

  • Under this MoU they will be working together in capacity building and to strengthen the Accounting, Financial and Audit Knowledge base in Papua New Guinea.

Union Cabinet approved extension of the Market Intervention Scheme for J&K apples:

  • The cabinet approved the extension of Market Intervention Scheme (MIS) for apple procurement in Jammu and Kashmir for the year 2020-21. This acquirement will be done by National Agricultural Cooperative Marketing Federation ltd which is a Central Procuring Agency.

IIT Kharagpur developed ‘COVIRAP’ Technology for COVID-19 Test gets ICMR Certification

IIT Kharagpur developed ‘COVIRAP’ Technology for coronavirus test gets ICMR Certification. Indian Institute of Technology (IIT) Kharagpur developed ‘COVIRAP’ Technology was validated for its effectiveness in COVID-19 detection by the Indian Council of Medical Research (ICMR).

  • This new testing technology has been designed to ensure that COVID-19 test is easy to conduct, affordable and to produce results within an hour.

IRDAI constituted a panel to inspect necessity for Standard Cyber Liability Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) which is a statutory body tasked with regulating and promoting the insurance and re-insurance industries in India has set up a committee to discover possibility of a basic standard product structure to provide insurance cover for individuals and establishments to manage their cyber risks.

  • This nine-member panel is headed by P Umesh. This panel will recommend the scope of the cyber liability insurance covers for the present context and for the medium term.

About IRADAI:

  • Headquarters: Hyderabad
  • Chairperson: Subhash Chandra Khuntia

Union Minister for MSME and Road Transport and Highways, Nitin Gadkari, launched the first-ever high quality Khadi Fabric Footwear of India.

  • This footwear was designed by Khadi and Village Industries Commission (KVIC). These footwear are made of Khadi fabric like Silk, Cotton and Wool.
  • The Khadi footwear price has been ranged from Rs 1100 to Rs 3300 per pair.

Union Minister Hardeep Singh Puri launched ‘e-Dharti Geo portal’

Union Minister for Housing and Urban Affairs Minister Hardeep Singh Puri launched ‘e-Dharti Geo Portal’.

  • The portal will integrate legacy drawings such as maps and lease plans in the management information system and make it geographic information system (GIS)-enabled.
  • The property certificate, which will give all the relevant details about the property to the lessee as well as prospective purchaser, will be available by paying a nominal fee of Rs 1,000 and can be accessed by the public by visiting the L&DO website – www.ldo.gov.in.

About Housing and Urban Affairs Ministry:

  • Union Minister: Hardeep Singh Puri

State Affairs

Tamil Nadu becomes first state to launch Smart Black Board Scheme in India

Tamil Nadu became the first state in the country to initiate Smart Black Board Scheme. The Scheme was implemented more than 80,000 schools in the country. According to the data, the state has more than 7500 teaching and 2400 non-teaching posts lying back and. The government is currently taking necessary steps to fill up these posts.

  • The smart blackboard scheme will be launched with an objective to use audio visual teaching material that can be integrated along with digital classrooms. It will create materials that can be fed into computer screens using pen drives.
  • The Tamil Nadu State government has also decided to reduce be syllabus of 2020-21 by 40 per cent.

About Tamil Nadu:

  • Capital: Chennai
  • Chief Minister: Edappadi K. Palaniswami
  • Governor: Banwarilal Purohit

Prime Minister Narendra Modi to dedicate three Key Projects on October 24

Prime Minister of India, Shri Narendra Modi will inaugurate three Key Projects in Gujarat on October 24. These will be launched by PM virtually via video conferencing from New Delhi.

The three projects are:

The United Nations Mehta heart Research Institute:

  • The UNMICRC is a grant-in-aid autonomous institute promoted by the Government of Gujarat as a public trust.

The Girnar ropeway project:

  • The Girnar ropeway project will facilitate visit to temple of Lord Dattatreya on top of Girnar which otherwise require climbing more than 10,000 steps. The project was first proposed in 1983.

Kisan Sarvoday Yojana:

  • Kisan Sarvoday Yojana which aims to provide power for agriculture purpose to farmers in the daytime. In the first phase, three districts which are Dahod, Junagadh and Gir Somnath have been included under the project.

GoI chosen FICCI as National Industry Partner for the 3rd “Make in Odisha”

Federation of Indian Chambers of Commerce and Industry (FICCI) has been elected as the national industry partner for the third edition of ‘Make in Odisha’ conclave.

  • This Make in Odisha’ conclave is a flagship industrial summit of Odisha Government that showcases the State as an industrial power house and a preferred investment destination in the country.
  • An agreement was signed between Industrial Promotion & Investment Corporation of Odisha (IPICOL) and FICCI for investment promotion and investor outreach activities to be handled leading up to the conclave.

About Odisha:

  • Capital: Bhubaneswar
  • Governor: Ganeshi Lal

Rankings & Reports

State of Global Air 2020 Report – India had Highest Air Pollution Globally

State of Global Air 2020 (SOGA 2020) report was released by Heath Effects Institutes (HEI) and IHME Global Burden Disease(GBD).  As per the data, India has the highest annual average PM 2.5 concentration exposure in 2019. The Reports also stated that nearly 1.67 million deaths in India, including over 116,000 infant deaths occurred due to Air Pollution in India.

  • India was followed by Nepal, Niger, Qatar and Nigeria in high PM 2.5 exposures
  • India has been recording an increase in PM 2.5 pollution since 2010
  • India is also one of the the top ten countries with highest ozone (O3) exposure in 2019.
  • Qatar has recorded the highest O3 exposure followed by Nepal and India.

WEF Future of Jobs Report 2020 –85 Million Jobs will disrupt by 2025

The World Economic Forum (WEF) which is an international NGO has released the Future of Jobs Report 2020. According to the report within the next five years, automation and a new division of labour between humans and machines will disrupt 85 million jobs worldwide.

  • This report is based on the projections of senior business leaders from some 300 global firms, which together employ eight million workers.
  • Redundant work roles will decline from 15.4% of the workforce to 9 percent.

About WEF:

  • Executive Chairman Klaus Schwab
  • Headquarters: Geneva, Switzerland

UNCTAD forecasts Global trade to decrease by 7 to 9% in 2020

The United Nations Conference on Trade and Development (UNCTAD) has forecasted that the value of global trade will decrease by 7-9% in 2020.

  • As per the report, India’s exports declined 6.1% on-year for quarter ended September 30.
  • UNCTAD is the part of the United Nations Secretariat dealing with trade, investment, and development issues.

About UNCTAD:

  • Headquarters location: Geneva, Switzerland
  • Head: Mukhisa Kituyi

Summits & Conference

India-US 22 Ministerial Dialogue to be held on October 27

India-US 22 Ministerial Dialogue will be hosted by India. It is planned to conduct on October 27 in New Delhi. Indian side will be represented by Defence Minsiter Rajnath Singh and External Affairs Minister S.Jaishankar.

  • S Secretary of State Michael R.Pompeo and Secretary of Defense Mark.T.Esper will visit India to participate in the dialogue.

About USA:

  • President: Donald Trump
  • Capital: Washington, D.C.

World Bank- IMF annual meeting 2020: Addressed by Union Health Minister Harsh Vardhan

The annual meeting between the World Bank and The International Monetary Fund (IMF) is an international organization, headquartered in Washington, D.C. was held virtually through video conferencing. The Indian side was represented by Union Health and Family Welfare Minister Harsh Vardhan.

  • The theme World Bank- IMF annual meeting 2020 was “Unleashing the South Asian Century through Human Capital for All” and “Investing in Covid-19 Vaccines and Primary Healthcare Delivery System”.

About World Bank:

  • Headquarters: Washington, D.C., United States
  • President: David Malpass

About IMF:

  • Leaders: Kristalina Georgieva, Gita Gopinath
  • Parent organization: United Nations

Solicitor General Tushar Mehta attended 18th meeting of Prosecutors General of SCO

18th meeting of Prosecutors General of SCO virtually through video conferencing. India was represented by Solicitor General Tushar Mehta.

  • The eight member association is conducting SCO Council of Heads of Government Meeting on 30th November which will be hosted by India.
  • Meeting of SCO Summit will be held in November every year.

About SCO:

  • Headquarters: Beijing, China
  • Secretary General: Vladimir Norov

Awards & Honors

MD of TRIFED Pravir Krishna received Visionary Leadership award & CEO of the Year

Tribal Cooperative Marketing Development Federation of India (TRIFED) Managing Director (MD) won the CEO of the Year & Visionary Leadership award for his outstanding leadership. The TRIFED team also received the collective award for the investment in the start-ups category.

  • These awards are given in the National Awards for Excellence conducted by World Human Resource Development (HRD) Congress.

Banking Affairs

TLTRO Scheme: RBI announced Banks can deploy on-tap TLTRO funds in Six Sectors

The Reserve Bank of India announced that banks can deploy money drawn from Rs 1 trillion on-tap targeted long term repo operations (on-tap TLTRO) in six sectors.

The Six sectors are:

  • Agriculture
  • Agri-infrastructure
  • Secured retail
  • MSMEs
  • Drugs and pharmaceuticals
  • Healthcare

Liquidity used by banks through this scheme has to be deployed in corporate bonds, commercial paper and non-convertible debentures issued by the entities in specific sectors

Science & Technology

Microsoft partnered with SpaceX to join Azure Platform to Satellites

Microsoft is collaborated with the SpaceX provide high-speed and low latency satellite broadband for Microsoft’s Azure Modular Datacenter.

  • The Objective of this partnership is to make the Azure a platform and ecosystem of choice. Microsoft wants the platform to be looked upon for the mission needs of the space community.

About Microsoft:

  • CEO: Satya Nadella
  • Headquarters: Washington, United States

Third stage of National Supercomputing Mission to start in January 2021

The third stage of the National Supercomputing Mission (NSM) will start in January. The third stage of the mission will wnhance the computing speed up to 45 petaflops.

  • An agreement was signed between C-DAC and the National Supercomputing Mission signed agreement on October 12, 2020 with the leading institutes of India. Under the agreement, manufacturing units and assembly units of super computers will be established in the Premier Institutes of the country.
  • The Rs 4,500 crore-National Supercomputers Mission (NSM) envisages nearly 50 supercomputers across the country in three phases.

Defence News

Nag Anti-tank Guided Missile – India successfully tested the Last trial in Pokhran

India Successfully test the last trail of Nag Anti-tank Guided Missile in Pokhran field firing ranges in Rajasthan. The missile was developed by The Defence Research and Development Organisation (DRDO) is an agency under the Department of Defence Research and Development in Ministry of Defence of the Government of India.

  • The Defence Ministry in 2018 had cleared the acquisition of 300 Nag missiles for the Indian Army.
  • The trial of Nag anti-tank guided missile comes after the DRDO tested the helicopter launched Stand-off Anti-Tank Missile (SANT) with a range beyond 10 km from Balasore testing range in Odisha.
  • The Nag anti-tank missile is ready for induction in the Indian Army.

About DRDO:

  • Founded: 1958
  • Headquarters: New Delhi
  • Chairman: G. Satheesh Reddy

INS Kavaratti commissioned into Indian Navy in Visakhapatnam

Chief of Army Staff General M M Naravane has inducted the Anti-Submarine Warfare stealth corvette INS Kavaratti into the Indian Navy at the Naval Dockyard in Visakhapatnam. The ship is designed Directorate of Naval Design(DND) which is a premier organisation of the Indian Navy and the only one in the country for design of submarines and submersibles.

  • The ship cost an estimated ₹1,700 crores.
  • The ship has up to 90 per cent indigenous content and the use of carbon composites for the superstructure is a commendable feat achieved in Indian shipbuilding.
  • The ship is 109 metres long and 12.8 metres broad and is highly manoeuvrable with a top speed of 25 knots.

Books & Authors

Chairman of 15th Finance Commission, NK Singh autobiography titled ‘Portraits of Power’ released

Popular economist, and the current Chairman of the 15th Finance Commission, NK Singh released his autobiography, named “Portraits of Power: Half A Century of Being at Ringside” in a virtual event on 19 October 2020.

  • The book has been published by the Rupa Publications India.

Important Days

International Stuttering Awareness Day is observed on 22 October

Every year International Stuttering Awareness Day is observed on 22 October. This day aims to raise public awareness of the issues faced by millions of people – one percent of the world’s population who stutter, or stammer.

  • International Stuttering Awareness Day Theme 2020 is “Journey of Words – Resilience and Bouncing Back”.

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