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Daily G.K. - Top Stories

17 Oct 2020

INTERNATIONAL AFFAIRS

India to Expand Economic Partnership with Chile as Part of Indo-Pacific Vision

  • India and Latin American financial main Chile deliberated upon increasing their Preferential Commerce Settlement and creating Joint Enterprise Council to advertise multi-faceted enterprise and commerce hyperlinks as Delhi hopes to broaden its Indo-Pacific assemble.
  • These selections had been arrived on the first Joint Fee Assembly (JCM) between India and Chile held on a digital platform. It was co-chaired by S. Jaishankar, Overseas Minister and his Chilean counterpart Andres Allamand Zavala. Chile had determined to open its Consulate Normal in Mumbai to advertise commerce hyperlinks.
  • The JCM with Chile was a big growth, being the primary institutionalized dialogue between the 2 nations on the degree of Overseas Ministers. Chile is a member of Pacific Alliance comprising Chile; Peru; Colombia and Mexico. The Pacific Alliance seeks nearer ties with India and the Alliance might be an anchor for India in a single geographical a part of the Indo-Pacific area.

Putin Proposes Year Long Extension of Nuclear Pact with US

  • Russian President Vladimir Putin made a strong call to save the last existing nuclear arms control pact between Russia and the United States, proposing to extend it at least for one year.
  • Putin's statement comes amid conflicting signals from Russian and U.S. diplomats about the fate of the New START treaty that is set to expire in February 2021 unless Moscow and Washington agree on its extension.
  • All those years, the New START has worked, playing its fundamental role of limiting and containing an arms race.
  • The New START treaty was signed in 2010 by U.S. President Barack Obama and Russian President Dmitry Medvedev.
  • The pact limits each country to no more than 1,550 deployed nuclear warheads and 700 deployed missiles and bombers, and envisages sweeping on-site inspections to verify compliance.

Chinese Envoy Warns Canada against Granting Asylum to Pro-democracy Protestors from Hong Kong

  • The Chinese ambassador to Canada warned the Trudeau government not to grant asylum to Hong Kong residents fleeing a widely criticised national security law imposed by Beijing.
  • Ambassador Cong Peiwu branded pro-democracy protesters in Hong Kong as violent criminals and said if Canada grants them asylum that amounts to interference in China's internal affairs.
  • Protests against the Hong Kong and mainland Chinese governments swelled last year, and Beijing clamped down on expressions of anti-government sentiment in the city with a new national security law that took effect in June.
  • The law outlaws subversive, secessionist, and terrorist activity, as well as collusion with foreign powers to interfere in the city's internal affairs. The US, Britain and Canada accuse China of infringing on the city's freedoms.
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ENVIRONMENT

October Downpour Sees UK's Wettest Day on Record

  • October 2020 saw the wettest day for UK-wide rainfall since records began in 1891.
  • The downpour followed in the wake of Storm Alex and saw an average of 31.7mm (1.24ins) of rain across the entire UK.
  • The deluge was enough to exceed the capacity of Loch Ness - the largest lake in the UK by volume - the researchers added.
  • The previous record wettest day was in August 1986.
  • It has been a year of stark contrasts across the UK when it comes to rainfall.
  • Two named storms, Ciara and Dennis, helped push February to the top of the records as the wettest ever in the UK.
  • This was followed by a very dry and bright spring that saw May break the record for sunniest calendar month with 266 hours of sunshine.
  • But a middling summer has been followed by a drenching autumn across much of the UK.
View Month Wise

BUSINESS AND ECONOMY

Flipkart Boosts Partnerships with Banks, NBFCs

  • Walmart-owned Flipkart will offer credit options through 17 banks, NBFCs and fintech players that will drive credit accessibility for customers during the upcoming festive season.
  • Flipkart is ramping up its fintech constructs so that consumers across the country can avail the benefits of easy accessibility to credit and affordability options.
  • Through these partnerships, Flipkart aims to tap into the new-to-credit audience across different geographies and pin codes and offer them access to its over 250 million product offerings on the Flipkart marketplace.

IB Housing Finance Sells Additional Stake in OakNorth Holdings

  • Indiabulls Housing Finance sold an additional stake in OakNorth Holdings Ltd for Rs. 220 crore. The sale proceeds will be accretive to the regulatory net worth and the CRAR (capital to risk weighted assets ratio) of the company.
  • The company with the latest stake sale has raised a total of Rs. 2,493 crore as fresh equity in the months of September and October 2020 (Rs. 683 crore through qualified institutional placement (QIP) and Rs. 1,810 crore through sale of stake in OakNorth) adding to the regulatory equity capital of the company.

Jana SFB Becomes First SFB to Go Live Under Sponsor Bank Program

  • Jana Small Finance Bank has joined hands with Ashoknagar Co-operative Bank Limited under the Bank Sponsorship Program. Jana Bank becomes the first Small Finance Bank to go live under this Program.
  • RBI has permitted co-operative banks which are CBS enabled, to issue ATM cards/ATM-cum-debit cards in tie-up with a sponsor bank. Ashoknagar Co-operative Bank Limited in association with Jana Small Finance Bank can now extend ATM, POS & E-Commerce Services to its customers.
  • This association marks the fulfilment of Jana Bank's endeavour to promote full suite of services to co-operative banks. The bank's digital capability will now be available to all its partner banks.
  • Jana Small Finance Bank is a scheduled commercial bank catering to more than 40 lakh customers served by over 15,000 employees over 475 bank branches and over 125 Asset centres in 22 states and union territories. 
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SPORTS

Kidambi Srikanth Out of Demark Open

  • Kidambi Srikanth was knocked out of the Denmark Open after losing 22-20, 13-21, 16-21 to Chou Tien Chen in men's singles quarter-finals match.
  • With Srikanth's exit, India's challenge in the Super 750 tournament also came to an end. Srikanth won the first game against the second seed Tien Chen but he fought back in the next two games to qualify for the semi-finals of the Denmark Open. 
  • Earlier, India's Ajay Jayaram and Shubhankar Dey lost their respective matches as they crashed out in the opening round of the tournament. 

Michael Irani Interim President of IWF

  • In accordance with the International Weightlifting Federation (IWF) Constitution and By-laws, the IWF Executive Board appointed Dr. Michael Irani as IWF Interim President.
  • Irani is Chairman of the IWF Medical Committee and a former Chairman of the IWF Anti-Doping Commission. Irani has extensive experience in the fight against doping and in safeguarding athlete welfare.
  • Welcoming the formation of the IWF Athletes' Commission, whose Chairperson will be invited to participate in all future board meetings, Irani and the IWF EB committed to achieving further progress in governance and constitutional reforms, and to implement the changes as soon as possible.
View Month Wise

NATIONAL AFFAIRS

Ex-judge MB Lokur One-man Panel to Monitor Steps to Prevent Stubble-burning

  • The Supreme Court appointed Justice (retd) Madan B. Lokur as a one-man committee to monitor the measures taken by states of Punjab, Haryana, UP and Delhi to prevent farmers from resorting to stubble-burning that turns the entire NCR into a virtual gas chamber during October-November.
  • As per a a bench headed by Chief Justice of India SA Bobde, it is necessary that there must be some monitoring of stubble-burning with a view to its prevention before it assumes abnormal proportions.
  • It directed chief secretaries of Punjab, Haryana, UP and Delhi and EPCA to assist the committee in physical surveillance of fields where stubble was likely to be burnt and to devise additional means/methods for preventing it.

PM Narendra Modi Greets NSG Personnel

  • Prime Minister Narendra Modi wished National Security Guard (NSG) personnel and their families on their 36th Raising Day, saying that NSG plays a crucial role in India`s security apparatus.
  • Established in 1984, NSG is popularly known as the Black Cats -- is an elite striking force in the country -- trained and equipped to handle situations like a terrorist attack, hijacking, and hostage captivity.
View Month Wise

DEFENCE

India Successfully Test-fires Prithvi-II Ballistic Missile

  • India successfully test-fired the over 250 km strike range Prithvi-II ballistic missile off the coast of Balasore in Odisha. The missile, developed by the Defence Research and Development Organisation (DRDO), is already the part of the Strategic Forces Command.
  • The missile test comes a week after India successfully test-fired a new generation anti-radiation missile from a Su-30 MKI fighter aircraft of the Indian Air Force (IAF) that can destroy a wide variety of enemy radars, air defence systems and communication networks from large stand-off ranges.
  • In September BrahMos Extended Range Supersonic Cruise Missile was test-fired off the coast of Odisha. The BrahMos Extended Range Supersonic Cruise Missile can strike the target at a distance of over 400 km.
View Month Wise

PERSONS IN NEWS

Rajkiran is New Chairman of IBA

  • Indian Banks' Association (IBA) said Union Bank of India's MD and CEO Rajkiran Rai G was elected as Indian Banks' Association's (IBA) chairman for the term 2020-21.  
  • Rajkiran Rai succeeded Rajnish Kumar as the IBA Chairman after Kumar recently retired as SBI Chief.
  • In June, the government had extended Union Bank of India's CEO Rajkiran Rai's term by another two years until his retirement on May 31, 2022.
  • Rai had taken over as the CEO of the Mumbai-based lender on July 1, 2017.
  • Dinesh Khara of State Bank of India has been appointed as the Deputy Chairman of IBA.

Jyothi Pradhan CEO at Kurl-on

  • Mattress and home comfort brand Kurl-on appointed Jyothi Pradhan as chief executive officer.
  • A post-graduate in both computer science engineering, and management from California, Pradhan joined Kurl-on's leadership team in July last year as head of corporate strategy in charge of digital transformation in the company.

Vishal V. Sharma India's Next Permanent Representative to UNESCO

  • Vishal V. Sharma has been appointed as the next permanent representative of India to the United Nations Educational, Scientific, and Cultural Organization (UNESCO).
  • Sharma has succeeded Jawed Ashraf.
  • A communication specialist in the BJP, Sharma had been officer on special duty in the early years of the Modi regime when he was the Gujarat chief minister. 
View Month Wise

DAYS AND EVENTS

International Day for the Eradication of Poverty

  • The International Day for the Eradication of Poverty is an international observance celebrated each year on October 17 throughout the world.
  • The first commemoration of the event took place in Paris, France in 1987 when 100,000 people gathered on the Human Rights and Liberties Plaza at the Trocadéro to honor victims of poverty, hunger, violence, and fear at the unveiling of a commemorative stone by Joseph Wresinski, founder of the International Movement ATD Fourth World.
  • In 1992, four years after Wresinski's death, the United Nations officially designated October 17 as the International Day for the Eradication of Poverty.
View Month Wise

ART AND CULTURE

ArtRio first Major Event to Take Place in Brazil since the Pandemic Began

  • These days, it is news when an art fair manages to go ahead rather than be postponed due to the pandemic and Brazil's ArtRio in Rio de Janeiro is one such rare example, with both a live event and a digital edition.
  • Despite the fact that Brazil is the second country in the world with the most deaths from Covid-19 and the third with the most infections, organisers have made available a limited number of tickets for the live event (until 18 October), with health protocols being strictly enforced. The online portion, which extends until 25 October, includes talks, virtual tours and debates.
  • Although there were plans to commemorate the fair's tenth anniversary year in great style, Valansi said that those quickly had to change due to the pandemic.
View Month Wise

BOOKS AND AUTHORS

Tharoor's Book on Nationalism to be Out Soon

  • Congress leader Shashi Tharoor said that his "magnum opus" book on the theory, evolution and practice of nationalism will be out next month.
  • The book titled ''The Battle of Belonging'' is among his most "solidly researched" and "passionately-argued" works.
  • In many ways, the book seems like an extension of his 2018 book, 'Why I Am a Hindu' where he explored the history of Hinduism as well as the way religion impacted the socio-cultural contours of the country. In his latest outing, he has replaced the question of religion with identity which today have come to resemble each other.
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