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NATIONAL AFFAIRS
The government proposed masks & hand sanitizers under Essential Commodities Act 1955
On March 13, 2020, the government amended Essential Commodities (EC) Act, 1955 to declare 2 ply & 3 ply surgical masks, N95 masks & hand sanitizers as Essential Commodities up to 30th June 2020 to ensure that these products are available in the market at the right price given the outbreak of coronavirus & also has a measure to manage it.
Key Points:
i.It also issued a consultation under the Legal Metrology (LM) Act, 2009 that under EC law,…Click here to Read More
CRPF signs MoU with Aditya Mehta foundation to train its specially-abled troops in areas of cybersecurity & AI
On March 13, 2020, The Central Reserve Police Force (CRPF), India’s largest Central Armed Police Force, has signed a Memorandum of Understanding (MoU) with Aditya Mehta Foundation (AMF), a non-profit organization which aids people with disabilities to pursue sports, to train its 189 CRPF personnel who had lost their limbs in operations in areas of cybersecurity, artificial intelligence (AI) and paralympic sports.
Key Points:
i.The agreement, signed in the presence of CRPF’s Director General (DG) AP Maheshwari, will help create newer opportunities for such personnel to continue as an integral part of the force.
ii.The initiative also comes as a big boost for the CRPF personnel who had lost their limbs or undergone amputation over the past 10 years.
iii.During the event,The CRPF Chief Maheshwari also handed over job appointment letters to a family member of 20 CRPF personnel who had lost their lives in the line of duty or operations. Companies including Wipro, Toyota, Dream Studio, Virtusa & Garcorp provided the offer letter to the beneficiaries.
About Aditya Mehta Foundation (AMF):
Headquarters– Secunderabad, Telangana
About the Central Reserve Police Force (CRPF):
Headquarters– New Delhi
Motto– Service and Loyalty
Preceding agency– Ministry of Home Affairs
Minister responsible– Amit Shah, Union Minister of Home Affairs
Phool Dei festival was celebrated in Uttarakhand
On March 14, 2020 Uttarakhand Chief Minister (CM) Trivendra Singh Rawat celebrated the traditional harvest festival “Phool Dei”. The festival also showcases the inner bonding between the communities who all are residing in the hills.
Key Points:
i.About Phool Dei Festival: It is the harvest festival of Uttarakhand that is celebrated in the month of Chaitra (March- April) in the Hindu Calendar.
ii.On this traditional festival young girls pluck the first flowers of the season to decorate their houses with flowers and the term ‘Dei’ refers to ceremonial pudding which is the key food in the festival that is made from jaggery, Whiteflour & curd, are offered to everyone.
iii.In some places, the festival is celebrated throughout the month with the advent of spring.
About Uttarakhand:
Capital- Dehradun (Winter capital), Gairsain (Summer capital).
Governor- Baby Rani Maurya.
BANKING & FINANCE
RBI revises exposure limits for urban cooperative banks to single, group borrowers
On March 13, 2020, Reserve Bank of India (RBI) has revised exposure limits for urban cooperative banks (UCBs) of tier-1 capital to a single borrower to 15% and a group of borrowers to 25%. The revised exposure limits shall be applicable to all types of fresh exposures taken by UCBs.
- The RBI had earlier permitted UCBs to have exposures up to 15% and 40% of their capital funds to a single borrower and a group of borrowers, respectively.
Key Points:
-UCBs shall have at least 50% of their aggregate loans and advances comprising loans of not more than Rs 25 lakh or 0.2% of their tier 1 capital, whichever is higher, subject to a maximum of Rs 1 crore, per borrower.
-The RBI also increased the overall priority sector lending (PSL) target for UCBs to 75% of adjusted net bank credit (ANBC) or credit equivalent amount of off-balance sheet exposure (CEOBSE), whichever is higher from 40% earlier.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, N S Vishwanathan (will retire on March 31, 2020), Mahesh Kumar Jain, Michael Debabrata Patra)
About UCBs:
A cooperative bank located in urban/semi-urban centre is known as Urban Cooperative Bank (UCB).
Establishment as per RBI Act- Large cooperative banks with paid-up share capital and reserves of Rs. l lakh were brought under the preview of the Banking Regulation Act 1949 with effect from 1st March 1966.
APPOINTMENTS & RESIGNATIONS
Justice Bansi Lal Bhat got appointed as officiating chairperson of NCLAT for 3 months
On March 14, 2020, According to the Ministry of Corporate Affairs, Government of India (GoI), Justice (Retd.) Bansi Lal Bhat has been appointed as the officiating Chairperson of the National Company Law Appellate Tribunal (NCLAT) for a period of 3 months with effect from March 15, 2020, or until a regular Chairperson is appointed, whichever is earlier.
The first Chairperson of NCLAT, Justice SJ Mukhopadhaya has retired on March 13, 2020.
Key Points:
i.The government has also appointed Justice (Retd.) Anant Bijay Singh as a Judicial Member of NCLAT & Ms Shreesha Merla and Mr Alok Srivastava as Technical Members.
ii.Prior to this appointment, Justice Bansi served as a Member (Judicial) of NCLAT for 2-years. He also worked as a judicial member of the Armed Forces Tribunal and as a Judge of the Jammu & Kashmir High Court (HC).
iii.Bansi’s appointment has been made under Rule 10(1) of the Tribunal, Appellate Tribunal and other Authorities (Qualifications, Experience, and Other Conditions of Service of Members) Rules, 2020.
About National Company Law Appellate Tribunal (NCLAT):
It adjudicates issues relating to Indian companies.
Headquarters– New Delhi
Act– Companies Act of 2013.
Shardul Thakur appointed as the brand ambassador of Tata Power
Indian cricketer Shardul Thakur appointed as the brand ambassador of Tata Power, the largest power generation company in India which aims to provide uninterrupted power supply from its various plants located across India. This is his 1st major commercial endorsement & the campaign featuring him does have a significant presence in digital, radio & outdoors.
About Tata Power:
Headquarters- Mumbai. India
Chief Executive Officer (CEO) & Managing Director(MD)- Praveer Sinha
SCIENCE & TECHNOLOGY
HIL (India) Limited launched Customer Payment Portal
On March 13, 2020 HIL (India) Limited, Department of Chemicals & Petrochemicals, in association with Union Bank of India launched Customer Payment Portal in New Delhi to collect the payment from the customers through various online modes for fast & smooth collection of dues. It is introduced to speed up the Government’s vision of ‘Digital India’.
Key Points
i.This portal enables HIL customers to quickly & conveniently pay their outstanding debts from their homes or offices using any debit card, credit card, net banking, UPI or online wallet.
ii.It is a 1 step platform which facilitates online payment, data maintenance, customize MIS report & seamless reconciliation of financial records.
iii.It is launched by HIL (India) Limited’s Chairman & Managing Director (MD)– Siba Mohanty (S.P) Prasad, Director of Finance- Anjan Banerjee, Head of Government Business Department- R. K. Jaglan & Regional Head Delhi South of Union Bank of India- G. K. Sudhakar Rao
Gist about HIL(India) Limited:
On March 1954 it was incorporated in order to start production of Dichlorodiphenyltrichloroethane (DDT) for the National Malaria Eradication Programme.It is a Central Public Sector Enterprises(CPSE) under the Ministry of Chemical & Fertilizers & is formerly known as Hindustan Insecticides Limited.
Headquarters– New Delhi, India
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| S.No | AffairsCloud Today(Current Affairs Today): 16 March 2020 |
| 1 | Government proposed masks & hand sanitizers under Essential Commodities Act 1955 |
| 2 | CRPF signs MoU with Aditya mehta foundation to train its specially-abled troops in areas of cyber security & AI |
| 3 | Phool Dei festival was celebrated in Uttarakhand |
| 4 | RBI revises exposure limits for urban cooperative banks to single, group borrowers |
| 5 | Justice Bansi Lal Bhat got appointed as officiating chairperson of NCLAT for 3 months |
| 6 | Shardul Thakur appointed as brand ambassador of Tata Power |
| 7 | HIL (India) Limited launched Customer Payment Portal |
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