Daily Current Affairs: December 4, 2020

Daily Current Affairs (December 4, 2020) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK, and Financial Awareness sections. Remember, Banking Awareness, and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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Important Days:

Indian Navy Day- December 4:

• National Navy Day is observed on December 4 every year. The day is to commemorate the attack on the Karachi harbor during the India-Pakistan war in 1971. To celebrate the achievements and role of the naval force to the country.
• The Theme: “Indian Navy Combat Ready, Credible & Cohesive”.

DRI celebrates its 63rd Founding Day- December 4:

• The Directorate of Revenue Intelligence (DRI) is celebrating its 63rd Founding Day on December 4. In view of the COVID-19 pandemic, this time the celebration will be done virtually in the presence of Finance Minister Nirmala Sitharaman along with Minister of State for Finance Anurag Thakur.

International Day of Banks: December 4:

• International Day of Banks is observed globally on the 4th of December. On 19 December 2019, the UN General Assembly adopted resolution 74/245, which designated 4 December as the International Day of Banks.

National News:

Prime Minister Narendra Modi to deliver the keynote address at IIT 2020 Global Summit:

• Prime Minister Narendra Modi will be delivering a keynote address at the IIT-2020 Global Summit, organised by PanIIT USA.
• The summit will focus on issues like the global economy, technology, innovation, health, habitat conservation, and universal education. The theme of this year’s summit is ‘The Future is Now’.

9th International Sand Art Festival and 31st Konark festival begins in Odisha:

• The 9th edition of the International Sand Art Festival kicked-off at the Chandrabhaga Beach of Konark. The 31st edition of the Konark Festival also kicked-off in Odisha. World-renowned artist, Sudarsan Pattnaik has been appointed as the Chief Curator of the festival.
• This year, the main themes of the sculptures were ‘Environment’ and ‘Covid-19’. About 70 artists from across the country are set to take part in the much-awaited festival.

Odisha:                    

• Capital: Bhubaneswar
• Chief Minister: Naveen Patnaik
• Governor: Ganeshi Lal
• Festivals: Dhanu Yatra, Budi Thakurani Yatra, Magha Saptami, Chhau, Dola Purnima.

Nitin Gadkari Inaugurates 15 Highway Projects Worth Rs 4,127-Crore in Nagaland: 

• Union minister Nitin Gadkari inaugurated and laid the foundation stone for Rs 4,127-crore highway projects in Nagaland in a virtual ceremony, the government. The national highway projects pertain to a total length of 270 kilometers.
• The projects include providing alternate access to Imphal to Dimapur and connect Kohima to the Phek district and Myanmar border, besides improving transportation between Dimapur and other districts.

Nagaland:                

• Capital: Kohima
• Chief Minister: Neiphiu Rio
• Governor: R N Ravi.

Odisha approves Single Emergency Helpline Number ‘112’:

• Odisha Government approved the Unified Emergency helpline number 112 to provide all forms of police assistance to people in distress. Launching the service Chief Minister Naveen Patnaik said the consolidated helpline number would enable police to rush services to people in an efficient manner.

Education Ministry sets up a task force headed by Amit Khare for preparing roadmap on technical education in mother tongue:

• Education Ministry set up a task force for preparing a roadmap on imparting technical education under the chairmanship of Secretary of Higher Education Amit Khare. The decision was taken at a high-level meeting chaired by Education Minister, Ramesh Nishank.
• The Indian Institutes of Technology (IITs) and the National Institutes of Technology (NITs) will start offering engineering courses in the mother tongue from the next academic year.

International News:

India and USA sign MoU on Intellectual Property cooperation:

• India and the US have signed a Memorandum of Understanding (MoU) on Intellectual Property cooperation. Department for Promotion of Industry and Internal Trade, Secretary, Guruprasad Mohapatra, Ministry of Commerce and Industry signed the MoU with US Patent and Trademark Office, Department of Commerce of the US.

New Zealand PM Jacinda Ardern declares “Climate Emergency” and promises carbon neutral government by 2025:

• New Zealand Prime Minister Jacinda Ardern declared a “Climate Emergency” promising a carbon-neutral government by 2025.  Britain became the first in the world to declare a climate emergency. NZ aims to generate all energy from Renewable Sources by 2035.
• Jacinda Ardern said the climate emergency declaration was based on the Intergovernmental Panel on Climate Change’s findings that to avoid more than a 1.5 degree Celsius rise in global warming, emissions would need to fall by around 45% from 2010 levels by 2023 and reach zero by around 2050.

New Zealand:

• Capital: Wellington
• Currency: New Zealand dollar
• Prime Minister: Jacinda Ardern.

Union Minister Harsh Vardhan chairs inaugural session of the India Sweden Healthcare Innovation Centre:

• Union Minister of Health & Family Welfare Dr Harsh Vardhan chaired the inaugural session of the annual conference of the India Sweden Healthcare Innovation Centre ‘health talks,’ under Sweden India Nobel memorial week.
• The Sweden India Nobel Memorial Week was instituted in the memory of Swedish inventor and philanthropist Alfred Nobel and celebrates his biggest contributions viz. innovations, entrepreneurship, and creativity.

Sweden:

• Capital: Stockholm
• Currency: Swedish krona
• Prime Minister: Stefan Löfven.

Banking and Economy:

RBI Bars HDFC Bank from Issuing New Credit Cards to customers:

• Reserve Bank of India (RBI) has asked HDFC Bank to stop issuing new credit cards and halt launches of new digital business following interruption of the internet banking system. Launch of the digital business activities planned under its Digital 2.0 program.
• This comes after HDFC Bank went through multiple outages in its internet banking/mobile banking/payment utilities over the past two years.

Paytm partners with Suryoday Small Finance Bank to empower MSMEs with instant digital loans:

• Paytm has announced its partnership with Suryoday Small Finance Bank to empower MSMEs with instant digital loans. Merchants will not have to visit the bank branch as the entire journey from application to approval will be completed on the Paytm app itself.
• The company through this partnership is aiming at disbursing loans to over 1 lakh small businesses in the next 12 to 18 months.

RBI predicts Indian economy to contract at 7.5% for FY21: 

• Reserve Bank of India has revised its forecast of economic growth for FY 2020-21 to (-)7.5% compared to its earlier forecast of (-)9.5%. the 2nd half of FY is expected to show growth. Change in the forecast has been prompted by a surge in demand in both rural & urban areas
• The economy declined by a massive 23.9 percent in the first quarter on account of the COVID-19 pandemic.

IFSCA gets membership of International Association of Insurance Supervisors:

• Gujarat International Finance Tec (GIFT) City regulator International Financial Services Centres Authority (IFSCA) has obtained membership of the International Association of Insurance Supervisors (IAIS).
• IFSCA would have access to IAIS’s global network & would be able to exchange ideas & information with other global regulators. Currently, 17 leading insurance entities are operating from GIFT IFSC undertaking offshore insurance and reinsurance business.

HDFC Life Stands with Dabbawalas Of Mumbai with ‘PromiseWalaDabba’ Campaign:

• HDFC Life in association with Ketto India has initiated a nationwide crowdfunding campaign ‘PromisewalaDabba’ to help the Dabbawalas of Mumbai. It will be delivered that includes essential supplies such as staple food ingredients, spices and accompaniments, sanitizers, and toiletries to their homes.

Universal Sompo General Insurance Company Ltd Launches Upgraded “USGI PULZ” Mobile Application:

• Universal Sompo General Insurance Company Limited has launched its mobile application the “USGI PULZ”. Riding on the wave of digitalization, the app has been launched with the main intention of enhancing service delivery. 
• The mobile application acts as a one-stop-shop for all post-sales insurance needs, online claims intimation, GPS-based nearby service providers, a marketplace for various value-added services, AI-based health risk assessment among other facilities.

Acquisitions and Mergers:

NABARD and SBI sign MoU to extend concessional refinance facility to the watershed and tribal development projects:

• The Karnataka regional office of NABARD and State Bank of India has signed an MoU worth Rs. 5000 Cr to extend Concessional Refinance facility to the beneficiaries of watershed development and tribal development projects. It aims to benefit 45000 beneficiaries from 260 FPOs in 28 districts.
• The Chairman and Managing Director of NABARD Niraj Kumar Verma and Chief General Manager of State Bank of India Abhijit Majumdar signed the MoU in Bengaluru, Karnataka.

Razorpay partners with PayPal to help MSMEs and freelancers go global:

• India’s leading full-stack financial solutions company Razorpay and PayPal have come together to enable seamless international payments for MSMEs and freelancers.
• The company’s partner businesses can now integrate with PayPal and accept payments from international customers from across 200 markets in a convenient and secure manner, reducing wait time from days down to minutes.

Awards and Recognitions:

Manipur’s Nongpok Sekmai Police Station selected as India’s Top Police Station for 2020:

• The Ministry of Home Affairs, Government of India releases the list of Best Performing Police Stations across the country every year, to incentivize more effective functioning of police stations and bring healthy competition among them.
• The Nongpok Sekmai Police Station in Manipur topped the list of best police stations in India while AWPS-Suramangalam in Tamil Nadu’s Salem city was the country’s second-best police station, Kharsang PS in Arunachal Pradesh’s Changlang district was the third-best police station.

President Donald J. Trump to Award the Medal of Freedom to Louis Lou Holtz:

• President Donald J. Trump will award the Presidential Medal of Freedom to Louis Leo Holtz. Louis Leo Holtz is one of the greatest football coaches and Former American football player.
• This prestigious award is the Nation’s highest civilian honor, which may be awarded by the President to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors.

HCL Tech’s Roshni Nadar tops the list of India’s wealthiest women:

• Roshni Nadar Malhotra of HCL Technologies, followed by Kiran Mazumdar-Shaw of Biocon and Leena Gandhi Tewari of USV has topped the list of wealthiest women in India.
• According to the second edition of the ‘Kotak Wealth Hurun–Leading Wealthy Women’ report, compiled by Kotak Wealth Management, a division of Kotak Mahindra Bank, and Hurun India.
• Nineteen women from this list also feature in the Hurun India Rich List 2020, and Six women have made it to the Hurun Global Rich List 2020.

Reliance Industries Ltd Tops Fortune India 500 list of India’s largest companies for the second straight year:

• Mukesh Ambani-led Reliance Industries Ltd (RIL) topped the list for the second straight year, According to the Fortune India 500 annual list of India’s largest corporations.
• Indian Oil Corporation Ltd (IOC), bagged second place followed by Oil and Natural Gas Corporation (ONGC) at third place.

Obituary News:

‘King of spices’ Mahashay Dharampal Gulati passes away at 98:

• Dharampal Gulati, the owner of MDH Masala, passed away due to cardiac arrest. Gulati was known as ‘dalaji’ and ‘Mahashayji’, Dharampal Gulati was born in 1923 in Sialkot, Pakistan. He was honored with ‘Padma Bhushan’, the third-highest civilian award in 2019.

Pizza Hut co-founder Frank Carney passes away at 82:

• American entrepreneur Frank Carney, who along with his brother Dan, started the Pizza Hut empire in the US city of Wichita, has passed away from pneumonia. He had recently recovered from Covid-19, but Alzheimer’s disease for more than a decade, and pneumonia are common in Alzheimer’s patients.

Former French President Valéry Giscard d’Estaing passed away at 94:

• Valéry Giscard d’Estaing, the president of France from 1974 to 1981 who became a champion of European integration, died. He wrote the article in the EU charter that allowed Brexit to happen, the brief measure that allows a member state to leave the bloc.

Olympic gold medallist and World’s Greatest Athlete, Rafer Johnson died at 86:

• Rafer Johnson, who has crowned the World’s Greatest Athlete after winning the decathlon gold medal at the 1960 Olympics. Johnson turned to act and appeared in a few films, including the James Bond film Licence to Kill in 1989.

Sports News:

England’s Dawid Malan Attains Highest-Ever Rating Points in T20I History:

• The 33-year-old left-hander Dawid Malan has reached 915 points, the first to cross the 900-point mark after Australian Aaron Finch’s 900-point achievement in July 2018.
• India’s Lokesh Rahul is in the fourth position, while Virat Kolhi’s rank has dropped to 9th in the list.

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Daily Current Affairs Quiz – December 4, 2020

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