Daily Current Affairs : January 11, 2020
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BANKING AND FINANCE
RBI gives nod to recurring UPI payments
- The Reserve Bank of India has allowed electronic mandate for the Unified Payments Interface (UPI) on recurring payments of up to Rs 2,000, bringing the payment system at par with other instruments such as debit cards, credit cards and mobile wallets
Industrial output turns positive on account of growth in manufacturing sector
- The industrial output grew 1.8 per cent in November last year, turning positive after three months of contraction, on account of growth in the manufacturing sector.
- According to National Statistical Office data released yesterday, the growth in the manufacturing sector was 2.7 per cent as against a contraction of 0.7 per cent in November 2018.
- The Index of Industrial Production (IIP) had grown by 0.2 per cent in November 2019.
Yes Bank board approves 10,000 cr funding
- The board of private lender Yes Bank met on Friday and approved raising of funds of up to Rs10,000 crore in one or more tranches through a qualified institutional placement (QIP), or any other private placement of equity or debt.
RBI amends KYC norms, allows banks to use V-CIP
- The RBI has amended the KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers remotely.
- The V-CIP, which will be consent-based, will make it easier for banks and other regulated entities to adhere to the RBI’s Know Your Customer (KYC) norms by leveraging the digital technology
RBI releases national strategy for financial inclusion
- The report has called for increasing outreach of banking outlets.
- The government has been trying to take steps to provide access to credit at an affordable cost and financial instruments to the low-income group and the weaker sections
RBI tweaks norms for penalty on payment system operators
- The amount of monetary penalty would vary depending on the impact on account of various factors.
- “The amount of monetary penalty for a contravention shall not exceed Rs.5 lakh or double the amount of contravention, whichever is higher, where such amount is quantifiable,” it said.
- For non-quantifiable contravention, the maximum penalty shall be Rs.5 lakh per contravention
US imposes new sanctions on Iran’s metal exports
- Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin announced yesterday that the U.S. imposed new sanctions on Iran’s metal exports and eight senior Iranian officials.
- The new penalties came days after Iran fired a barrage of missiles at Iraqi bases that were housing US targets – a move made in retaliation for an American airstrike in Baghdad that killed Iran’s top military leader, Qasem Soleimani.
Second largest Muslim Congregation in the world Bishwa Ijtema begins in Bangladesh
- The first phase of the world’s second largest Muslim congregation after Haj began on the outskirts of Dhaka today.
- Thousands of devotees from Bangladesh and abroad are thronging the bank of river Turag at Tongi near Dhaka to participate in the congregation called Bishwa Ijtema.
- The Ijtema began with the ‘aam bayan’ and will end on January 12 with the final prayers ‘Akheri Munajat’.
Government issues notification to bring Citizenship Amendment Act into effect
- The Citizenship (Amendment) Act has come into effect from 10 January 2020.
- The Centre has issued a gazette notification in this regard.
- The notification said, the Central Government appoints the 10th day of January, 2020, as the date on which the provisions of the Act will come into force.
- According to the Citizenship (Amendment) Act, members of six minorities communities who have come to India from Pakistan, Bangladesh and Afghanistan till December 31, 2014 facing religious persecution there will not be treated as illegal immigrants but given Indian citizenship.
- The minorities communities are Hindu, Sikh, Buddhist, Jain, Parsi and Christian to whom citizenship will be granted.
3rd edition of Pariksha Pe Charcha to be held on Jan 20
- The third edition of the Prime Minister’s Interaction with school students, “Pariksha Pe Charcha-2020″, will be held at Talkatora Stadium in New Delhi on the 20th of this month.
- Over 2,000 students, parents and teachers will be participating from all over India in this event.
- Prime Minister Narendra Modi will answer the questions and interact with selected students, where he will discuss how to beat exam stress.
Home Minister Amit Shah dedicates National Cyber Crime Reporting Portal to nation
- Union Home Minister Amit Shah today inaugurated the Indian Cyber Crime Coordination Centre (I4C) in New Delhi and National Cyber Crime Reporting Portal
- National Cyber Crime Reporting Portal (www.cybercrime.gov.in) is a citizen-centric initiative that will enable citizens to report cyber-crimes online through the portal. All the cyber-crime related complaints will be accessed by the concerned law enforcement agencies in the States and Union Territories for taking action as per law
DPIIT launches paperless licensing process for petroleum road tankers
- The Department for Promotion of Industry and Internal Trade (DPIIT), has launched paperless licensing process for road tankers for transportation of petroleum.
- This is a significant move towards paperless and green India that will provide simpler mechanism, ease of living and business to the petroleum road tanker owners.
Government releases State Energy Efficiency Index 2019
- Union Government today released the State Energy Efficiency Index 2019, which tracks the progress of Energy Efficiency initiatives in 36 States and Union Territories.
- Power Minister R K Singh released the index in New Delhi.
- The index is developed by Bureau of Energy Efficiency in association with Alliance for an Energy Efficient Economy.
- It will help states to contribute towards national goals on energy security and climate action by helping drive Energy Efficiency policies and programmme implementation at the state and local level.
I&B Ministry organises digital exhibition on 150th birth anniversary of Mahatma Gandhi in Bellary
- The Bureau of outreach and Communication of ministry of Information and Broadcasting has organised a digital exhibition on 150th birth anniversary of Mahatma Gandhi in Bellary at the venue of Hampi Utsav at the world heritage site of Vijayanagara empire ruins.
- The exhibition depicting the life, ideals and beliefs of Mahatma Gandhi was inaugurated yesterday by the ministry’s additional Secretary Mr. Atul Kumar Tiwari.
- The exhibition will be open to public till January 14th.
Various programs under ‘Ek Bharat Shreshth Bharat’ organised in UP
- In Uttar Pradesh, various programs under ‘Ek Bharat Shreshth Bharat‘ have been organised.
- Many schools and colleges are also organizing events to promote Ek Bharat Shreshth Bharat Campaign.
- Arunachal Pradesh is the partner state of Uttar Pradesh, so cultural exchanges also took place between the two states.
- Cultural troops of Arunachal Pradesh had performed last month in Agra district of state and also tasted the authentic UP Food.
- As a part of cultural exchange, promoted by state culture department, many artisans from UP also went to Arunachal Pradesh.
J&K: Infrastructure Development Finance Corporation approves 17 projects worth over Rs 110 crore
- In Jammu and Kashmir, the Infrastructure Development Finance Corporation has approved 17 projects worth over 110 crore rupee for funding, submitted by the line departments for funding by the Corporation.
- These include Jambu Zoo project of more over 49 crore Rs, 8 projects of Higher Education department amounting to nearly 34 crore Rs, 3 of Horticulture department, 4 projects of Youth Services and Sports Department
Haitham bin Tariq Al Said to succeed Sultan Qaboos as ruler of Oman
- Oman’s Defence Council has announced that Haitham bin Tariq Al Said will succeed Sultan Qaboos as ruler of Oman.
- Haitham bin Tariq Al Said has served in a range of government roles, including undersecretary of the ministry of foreign affairs and the secretary general for the ministry of foreign affairs, as well as minister of heritage and culture.
- He has often chaired cabinet meetings and is well known and respected among Omani citizens.
January 10 -World Hindi day
- World Hindi Day.
- The day is commemorated every year with the objective to promote use of Hindi language abroad.
- Special functions are being organized to mark the occasion.
- On this day in 2006, the First World Hindi Conference was organized in Nagpur to promote the language worldwide.
- Since then 10th January is being observed as World Hindi Day.
Oman’s Sultan Qaboos, one of the longest serving rulers of Middle East, passed away
- Three days of official mourning have been declared with flags flown at half-mast for 40 days, for the Western-backed Qaboos, 79, who had ruled since taking over in a bloodless coup in 1970 with the help of former colonial power Britain
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