Current Affairs 29 & 30 November 2020

We are here for you to provide the important Recent and Latest Current Affairs 29 & 30 November 2020, which have unique updates of Latest Current Affairs 2020 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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Top 25 Current Affairs of 29 & 30 November 2020

NATIONAL AFFAIRS

PM Narendra Modi Unveiled the Rs.100 Commemorative Coin & Postal Stamp to Mark Centennial Foundation Day of University of Lucknow

On 25th November 2020, Prime Minister Narendra Modi, unveiled the University of Lucknow’s centennial commemorative coin of Rs.100 over a virtual platform. He also released the commemorative stamp issued by the India Post and its cover at the event organised for the celebration of the 100th Foundation day of the University of Lucknow,Uttarpradesh.
Key People:
Yogi Adityanath, Chief Minister of Uttar Pradesh(UP), Anandiben Patel, Governor of UP and Defence Minister Rajnath Singh, who is also a Lok Sabha member from Lucknow Constituency participated in the event.
About The University of Lucknow:
Established in– 1920.
Vice-Chancellor– Prof. Alok Kumar Rai

MEITY and IBM India collaborate to upskill members of CSC ecosystem in AI & Cloud

Ministry of Electronics & Information Technology (MEITY) and IBM (International Business Machines) India have collaborated to establish an education & Skilling ecosystem through Common Services Centre (CSC) Academy (part of the Common Services Centre scheme) to upskill members of the CSC ecosystem in new age technologies like Artificial Intelligence (AI) & Cloud.
It will focus on skill upgradation through experiential learning which are aimed at enhancing employability.
Objective:
i.CSC Academy, IBM India along with implementation partners CSR Box, Uva Jagriti Sansthan and Jeevitam will focus on exposing village level entrepreneurs to new-age technologies like AI and cloud.
ii.The collaboration aims to provide access to employment to 4000 village level youth in identified rural areas.
About Ministry of Electronics & Information Technology (MEITY):
Union Minister – Ravi Shankar Prasad
Minister of State – Sanjay Dhotre
About IBM India:
General Manager of IBM India, South Asia – Sandip Patel
Headquarters – Bengaluru, Karnataka
<<Read Full News>>

Ramesh Pokhriyal ‘Nishank’ Chairs a Virtual National Conference on ‘Empowering Through Zero- Shunya Se Sashaktikaran’; Organised by Sri Aurobindo Society

On November 25, 2020 Ramesh Pokhriyal ‘Nishank’, Union Minister of Education chaired and addressed a virtual national conference on ‘Empowering Through Zero- Shunya Se Sashaktikaran’.
Organiser– It was organised by Sri Aurobindo Society.
Events in the Conference:
Honoured more than 40 education officers and 26 teachers
Ramesh Pokhriyal ‘Nishank’ honoured over 40 education officers and 26 teachers for their  leadership role and innovative practices respectively during COVID-19 pandemic.
e-book Launched
He launched an e-book, ‘Innovation and Leadership Casebook – Covid Edition’. It comprises the innovative efforts and work of the education officers and teachers.
Research report Launched
A research report that was prepared by Cambridge on ‘Zero-Investment Innovations for Education Initiatives’ (ZIIEI) was launched. ZIIEI is a  nation-wide education programme of Sri Aurobindo Society and HDFC Bank.
An in-depth insight into the various stakeholders of ZIIEI programme is presented in the report.
Auro Scholarships programme Launched
He launched Auro Scholarships programme, that promotes micro-scholarships among the students.
Key People
The event was attended by Ashima Bhat, Group Head-Business and Finance, HDFC Bank and Nusrat Pathan, Head-Corporate Social Responsibilities, HDFC Bank.
Note– The initiatives of Sri Aurobindo Society are in line with the vision of National Education Policy(NEP)-2020.
About Zero-Investment Innovations for Education Initiatives(ZIIEI):
Established
i.Sri Aurobindo Society and HDFC Bank started  ZIIEI, a mass-scale teacher outreach initiative in 2015.
ii.This initiative is part of Sri Aurobindo Society’s nation-wide education transformation program, Rupantar.
Aim
i.To discover the scattered, isolated and unrecognized, but effective solutions that are created by teachers at the grassroots.
ii.And to implement the solutions systematically to schools annually.
About  Sri Aurobindo Society:
Chairman– Pradeep Narang
Head Office– Puducherry

Rajnath Singh Participated in India, Vietnam Virtual Defence Bilateral Talks; signs implementation agreement on hydrography

i.On November 27, 2020, India and Vietnam hold virtual Defence Ministers bilateral talks where India was represented by Union Minister Rajnath Singh, Ministry of Defence (MoD) and Vietnamese side was represented by General Ngo Xuan Lich, Minister of National Defence of Socialist Republic of Vietnam.
ii.In order to further deepen bilateral cooperation, both sides signed an implementing arrangement for cooperation in the field of Hydrography. It was signed between Dehradun (Uttarakhand) based National Hydrographic Office, India and Vietnam Hydrographic Office in the presence of the two Ministers.
About Vietnam:
Prime Minister– Nguyen Xuan Phuc
Capital– Hanoi
Currency– Vietnamese dong
<<Read Full News>>

Accelerator lab of UNDP, India Launches GRID for Inclusive Development at Community Level

On November 27, United Nations Development Program(UNDP) Accelerator lab in India launched a first of its kind Grassroot Innovation Database(GRID) to promote inclusive development at the community level.

• Created by-GRID is co-created by GIAN [Grassroots Innovation Augmentation Network], Honey Bee Network Institution and UNDP Accelerator Lab-India.

Key Points:
The database provides more than 1500 innovative solutions developed by grassroot communities, individuals, start-ups, students and other innovators from across the country & GRID works at 3 Levels
Key sectors covered:
Livelihood, Natural resource management, farm machinery, biodiversity conservation, augmentation, inclusive growth, waste management, circular growth.
Note – To meet the needs of 21st century developmental challenges, UNDP launched Accelerator labs in India in 2019, initiated by UNDP, Germany and Qatar. 
About UNDP, India:
Resident Representative – Shoko Noda
Headquarter – New Delhi.
UNDP works in India from since 1951.
About HoneyBee Network:
i.Honey Bee Network is a crucible of like of Innovators, farmers, scholars, like minded individuals and Non-Governmental Organisations(NGO).
About Grassroots Innovation Augmentation Network (GIAN):
It is India’s first technology business incubator focused on incubating and commercialising grassroot innovations. GIAN is an initiative of HoneyBee Network.
Founder-Anil K Gupta
CEO-Anamika Dey
Head Quarter – Ahmedabad,Gujarat

PFC, REC sign MoU with SJVN to provide INR 8, 520 Crore loan for Thermal power plant in Buxar, Bihar

On November 26, 2020, Power Finance Corporation Ltd (PFC) & REC Limited (formerly known as Rural Electrification Corporation Limited) signed a Memorandum of Understanding (MoU) with SJVN Thermal (P) Limited (STPL) at Power Finance Corporation (PFC), New Delhi for extending Term Loan of INR 8520.46 Crores for 2×660 MegaWatts (MW) Buxar Thermal Power Project, Bihar.
i.The 2x660MW Thermal project will be commissioned in the Financial Year (FY) 2023-24.
ii.The power plant will generate around 9828 Million Units of Energy and will meet the future power requirements of Bihar and other states.
About Power Finance Corporation Ltd (PFC):
Chairman & Managing Director (CMD) – Ravinder Singh Dhillon
Headquarters – New Delhi
About REC Limited (formerly known as Rural Electrification Corporation Limited):
CMD – Sanjay Malhotra
Headquarters – New Delhi
About SJVN Thermal (P) Limited (STPL):
CMD – N.L. Sharma
Headquarters – Shimla, Himachal Pradesh
<<Read Full News>>

INTERNATIONAL AFFAIRS

UAE: First Arab Country to generate electricity from coal

The United Arab Emirates (UAE) is all set to become the first Arab Gulf country, and probably the last, to generate electricity from coal, as; the Acwa Power of Saudi Arabia is developing a $3.4 billion Hassyan coal plant in Dubai.

• In this regard, the company has already inked a long time agreement with Japan’s Jera Co under which the latter will supply coal.
• The capacity of the plant will be 600 megawatts (MW) initially which will be increased to 2,400 MW by 2023.

Reason behind Coal based power generation by UAE:
As we all know, coal is the dirtiest fuel for power generation but this will be developed based on the guidelines for natural-gas plants. If met then Hassyan emits less carbon than the European Union (EU) and the World Bank’s International Finance Corporation (IFC).

• Hassyan will provide 20% of Dubai’s power and also reduce the electricity costs for locals.
• Already, Dubai Electricity & Water Authority (DEWA) signed an agreement with Acwa more than four years ago to buy electricity from Hassyan for less than 5 cents per kilowatt-hour. This price was much cheaper than the power from solar farms in the emirate.

It should be noted that the coal-based power plants in the Gulf region have been abandoned and UAE is also moving towards the project powered by 100% solar, nuclear and other renewable by 2050 in order to reduce carbon emissions.
About United Arab Emirates (UAE):
Capital– Abu Dhabi
Currency– UAE dirham

27^th APEC Economic Leaders’ summit 2020 held virtually; APEC Putrajaya Vision 2040 endorsed:

i.The 27th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ summit 2020 was virtually hosted by Malaysia from Kuala Lumpur on Nov. 20, 2020. It was chaired by Malaysia’s Prime Minister Muhyiddin bin Haji Muhammad Yassin under the 2020 APEC Malaysia theme of “Optimising Human Potential towards a Resilient Future of Shared Prosperity. Pivot. Prioritise. Progress”. It was the first virtual APEC meeting amid COVID-19.
ii.The summit saw the release of Asia Pacific leaders; first joint communique in three years, calling for free and predictable trade to help a slowed global economy due to the coronavirus pandemic.
iii.APEC leaders had endorsed the APEC Putrajaya Vision 2040 that will make free and fair trade the focus of the APEC agenda for the next two decades
About Asia-Pacific Economic Cooperation (APEC):
New Zealand will chair the APEC in 2021.
Members– 21 countries
Secretariat– Singapore
Executive Director, APEC Secretariat– Dr Rebecca Fatima Sta Maria
<<Read Full News>>

BANKING & FINANCE

SEBI Launched SMARTs Program to Strengthen Investor Education  as a part of World Investor Week 2020

i.On November 25, 2020, the Securities and Exchange Board of India (SEBI) has launched Securities Market Trainers (SMARTs) program, as a part of World Investor Week (WIW) 2020 being celebrated by SEBI in India from Nov 23, 2020 to Nov 29, 2020.
ii.Aim: To enhance investor education and awareness.
iii.The education programs to be conducted under this will be free of cost to investors. It will be borne from Sebi’s Investor Protection and Education Fund.
About Securities and Exchange Board of India (SEBI):
Chairman– Ajay Tyagi
Headquarters– Mumbai, Maharashtra
<<Read Full News>>

RXIL Initiates 1st Trade Credit Insurance Backed Transaction in Sandbox

i.Receivables Exchange of India Limited(RXIL) has initiated a Trade Credit Insurance (TCI) backed transaction in the Sandbox environment.
ii.In this TCI backed transaction, RXIL has collaborated with TATA AIG as the insurer, ICICI bank and YES Bank as financiers.
iii.It is the 1st time a Trade Receivables Discounting System (TReDS) platform tested the effectiveness of TCI backed transactions.
About Receivables Exchange of India Limited(RXIL):
Incorporated– February 25, 2016 as a joint venture between Small Industries Development Bank of India (SIDBI)  National Stock Exchange of India Limited (NSE India)
Managing Director(MD) and Chief Executive Officer(CEO)– Ketan Gaikwad
HeadQuarters– Mumbai, Maharashtra
<<Read Full News>>

RBI Advises LVB to Write Off Tier-2 bonds worth Rs 318.20 Crore Debt; 1st time a Tier-2 bond is written off

i.On November 26, 2020 Reserve Bank of India(RBI) advised Lakshmi Vilas Bank(LVB) to fully write off the Series VIII, Series IX and Series X Basel-III complaint tier -2 bonds worth Rs 318.20 crore, before its amalgamation with DBS Bank India Ltd. comes into effect from the appointed date i.e., 27th November 2020.
ii.It is to be noted that it is the 1st time a Tier II bond is being written off and so RBI has set a priority to the proposed write off.
About  Reserve Bank of India(RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao)
<<Read Full News>>

ECONOMY & BUSINESS

India’s GDP Q2 2020: Economic contraction narrows to 7.5% from 23.9% in Q1 as per NSO data

i.In accordance with the official data released by the National Statistics Office (NSO), India’s gross domestic product (GDP) for the second quarter ended September 30, 2020 (Q2FY21) contracted by 7.5% as compared to the expansion of 4.4% in the corresponding July-September period of 2019-20.
ii.However, this shows a significant improvement over a 23.9% contraction in the previous April-June quarter (Q1FY21).
iii.Manufacturing sector saw a 0.6% growth in July-September after a massive contraction of 39% in Q1FY21.
About National Statistics Office (NSO):
Parent Ministry– Ministry of Statistics and Programme Implementation (MoSPI)
Minister of State (MoS) MoSPI– Rao Inderjit Singh
<<Read Full News>>

AWARDS & RECOGNITIONS        

India-Japan Cooperation Won the OECD’s 2019 MAP Award 

On 18th November 2020, the India-Japan Cooperation won the Organisation for Economic Co-operation and Development (OECD)’s 2019 Mutual Agreement Procedure(MAP) Award in category 4 for pairings of jurisdictions that dealt most effectively with their joint caseload for transfer pricing cases. The award was announced during the virtual event of the 2nd OECD Tax Certainty Day organised by OECD.
Note:
In category 4, Norway- United States cooperation won the 2019 MAP Awards for “other cases”.
Key Points:
i.The award represents the commitment of India to provide tax certainty and effective conflict resolution mechanism for the Japanese companies which are doing business in India.
ii.India as an inclusive framework jurisdiction is committed to implement the minimum standard under the Base Erosion and Profit Shifting (BEPS) Project’s Action 14 on “Making Dispute Resolution Mechanisms More Effective”.
Note:
i.The MAP under the tax treaties addresses tax disputes arising from cross border transactions by foregin companies and nonresidents.
ii.All the tax treaties of India have a provision for MAP.
OECD 2019 MAP Awards:
i.The 2019 MAP Awards of OECD recognised the efforts of competent authorities in 4 different areas,
Category 1: Average Time to close MAP cases.
Category 2: Age of Inventory
Category 3: Caseload Management
Category 4: Cooperation
ii.All the jurisdictions that joined the inclusive framework before 2020 were accounted for the OECD MAP 2019 awards.
Other Winners:
Category 1: 
For Transfer Pricing Cases: Japan and the United Kingdom for closing more than 50 cases in approximately 21 months.
For Other Cases: The United Kingdom for closing more than 20 cases in 6 months(approx)
Category 2: 
Belgium won for the smallest proportion (10%) of pre-2016 cases in ending inventory.
Category 3:
Large inventory: Belgium
Medium Inventory: Norway
Additional info:
OECD also published the 2019 statistics on MAP and announced a public consultation on the review of the minimum standard on dispute resolution under Action 14.       

SCIENCE & TECHNOLOGY

Prakash Javadekar Launched ‘India Climate Change Knowledge Portal’ to Provide Information on Various Climate Change Initiatives
i.On November 27, 2020 Union Minister of Environment Forest and Climate Change Mr. Prakash Javadekar has launched a India Climate Change Knowledge portal to provide information about the Government initiatives towards climate change to the citizens.
ii.8 Major Components of the Portal are India’s Climate Profile, National Policy Framework, India’s NDC goals, Adaptation Actions, Mitigation Actions, Bilateral and Multilateral Cooperation, International Climate Negotiations, Reports and Publications.
About UNFCCC:
Secretariat(Headquarter)– Bonn, Germany.
Number of Signatories– 197 countries.
<<Read Full News>>

Indian Navy inducts two ‘MQ-9B Sea Guardian’ American Predator drones on lease;1st Defence hardware procured on lease under the DAP 2020

On November 25, 2020, Indian Navy inducted two MQ-9B Sea Guardian unarmed drones (Unmanned Aerial Vehicles – UAV) procured from the United States (U.S.) on lease. MQ-9B Sea Guardian became the first defence hardware to be procured on lease under the new Defence Acquisition Procedure (DAP) 2020.
i.The drones have been leased from an American firm, General Atomics for a period of 1 year for surveillance in the Indian Ocean Region (IOR).
ii.The drones will be based at Naval Air Station in Rajali, Arakkonam, Tamil Nadu.
iii.It has a maximum endurance of 40 hours and a maximum flying altitude of 40, 000 feet.
About General Atomics:
Chief Executive Officer (CEO) – Neal Blue
Headquarters – San Diego, California, United States
<<Read Full News>>

Australia to host Temporary Ground Station Tracking facilities for ISRO’s Gaganyaan Mission

Karen Andrews, Australian Minister of Industry, Science and Technology stated that Australian Space Agency (ASA), Indian Space Research Organisation (ISRO) are working together to set up Temporary ground station tracking facilities in Australia for ISRO’s Gaganyaan Mission.  She stated it while virtually addressing the 2020 Bengaluru Tech Summit held from November 19-21, 2020.
Gaganyaan Mission is an ambitious plan of ISRO to put an Indian in space by 2022.
About Indian Space Research Organisation (ISRO):
Chairman – Dr. K. Sivan
Headquarters – Bengaluru, Karnataka
<<Read Full News>>

SPORTS

Sports Ministry restores Archery Association of India as National Sports Federation

The Ministry of Youth Affairs and Sports restored the Archery Association of India as a National Sports Federation, allowing the promotion and regulation of Archery in India.
Key Points:
i.Eight years ago, the Archery Association of India(AAI) was removed from the National Sports Federation due to its failure to satisfy mandatory election rules set by the National Sports Development Code, 2011 (Sports Code) of India.
ii.World Archery (International Federation for Archery Sport) has also lifted the suspension of AAI and as such at present the AAI has the recognition both of Indian Olympic Association and the World Archery.
iii.Government of India recognition of AAI will be valid for one year.
About Archery Association of India:
Founded in 1973
Headquarters- New Delhi
President- Arjun Munda
About Ministry Of Sports and Youth Affairs:
Minister of State– Kiren Rijiju
Formed in May 27, 2000
Headquarters– Shastri Bhawan, New Delhi

OBITUARY

James David Wolfensohn, Former president of the World Bank Passed Away at 86

On 25th November 2020, James David Wolfensohn, former president of the World Bank, who served as the President for around 10 years (from 1st June 1995 to 31st May 2005), passed away at the age of 86 at his residence in Manhattan, New York, United States of America(USA). He was born on 1st December 1933, in Sydney, Australia.
He was the 3rd President of the World Bank to serve two full terms.
About James David Wolfensohn:
i.James D. Wolfensohn was a part of the Australia’s Fencing team in the 1956 Olympic games.
ii.He started his own investment firm James D. Wolfensohn, Inc., in New York in 1981.
iii.He served as the Chairman of Carnegie Hall in New York from 1980 to 1991and served as the chairman of the John F.Kennedy Centre for the Performing Arts in Washington D.C., from 1990 to 1995.
He was appointed as the President of the World Bank in 1995, he was nominated by Bill Clinton, Former President of the United States of America.
Reforms:
i.James D. Wolfensohn, president of World Bank and Michel Camdessus Managing Director of International Monetary Fund, launched the Debt Initiative for Heavily Indebted Poor Countries (HIPC). 
ii.HIPC created a framework for all creditors to provide debt relief to the world’s poorest and heavily indebted countries.
iii.More than 27 countries benefited through the HIPC initiative.

Sadiq al-Mahdi, Sudan’s Last Democratically Elected Prime Minister Passed Away at 84

On November 26, 2020 Sadiq al-Mahdi(also known as Sadiq as-Siddiq), Sudan’s Last Democratically Elected Prime Minister(PM) passed away at the age of 84 in a hospital in the United Arab Emirates(UAE) due to COVID-19. He was the head of the National Umma Party. He was born on December 25, 1935 in Al-Abasya, Omdurman, Sudan.
About Sadiq al-Mahdi:
i.Sadiq al-Mahdi served as the PM twices, one in 1966–67 and another from 1986 until 1989 Sudanese coup d’état, a military coup, headed by Omar al-Bashir.
ii.He was the leader of Ansar or followers of the Mahdi, a Sufi religious movement in the Sudan whose followers are disciples of Muhammad Ahmad,  who claimed to be the Mahdi, the messianic saviour of Islam.
iii.He authored books, namely The Southern Question (1964); Speeches in Exile (1976); Questions on Mahadism (1979); Legitimate Penalties and Their Position in the Islamic Social System (1987) among others.
iv.Apart from books he also authored booklets. All of them cover different topics that focus on democracy, Human Rights, development, authenticity and Islamic Revival.
Note:

• Omar al-Bashir took charge of Sudan after the 1989 sudanese coup and served till 1989 to 2019.
• On August 20,2019 economist Abdalla Hamdok took charge as the new prime minister of Sudan.

About Sudan(Republic of the Sudan):
Capital– Khartoum
Currency– Sudanese pound
Prime Minister(PM)– Abdalla Hamdok

IMPORTANT DAYS

11th National Organ Donation Day 2020 – November 27;Tamil Nadu SOTTO has been awarded the Best State SOTTO Award

National(Indian) Organ Donation Day is annually observed across India on 27th November to recognize the selfless contribution made by deceased donors to healthcare and mankind re-instill our faith in humanity. 27th November 2020 marks the 11th National Organ Donation Day.
ii.ROTTO West was awarded as the Best ROTTO in India and for the 6th consecutive year Tamil Nadu SOTTO has been awarded the Best State SOTTO in India.
iii.The Central Reserve Police Force(CPRF) has conferred 79572 soldiers as “Angadan warrior”, who have filled the pledge to donate their eyes, skin, lungs, heart, liver, pancreas, kidneys, heart valves and intestines after death.
About National Organ and Tissue Transplant Organization (NOTTO):
Director– Dr. Vasanthi Ramesh
Headquarters– New Delhi
<<Read Full News>>

STATE NEWS

SIDBI Signs MoU with TamilNadu Govt to Develop MSMEs in the State

i.On November 25, 2020 Small Industries Development Bank of India (SIDBI) has signed a Memorandum of Understanding (MoU) with TamilNadu(TN) government to develop the MSMEs(Micro, Small and Medium Enterprises) ecosystem in the state. ii.Under the MoU, a Project Management Unit (PMU) will be set up by SIDBI in TamilNadu.
ii.SIDBI had also signed MoU with the Uttarakhand Government to develop MSMEs in the state on November 24, 2020.
About Small Industries Development Bank of India (SIDBI):
Set up– 2nd April 1990 under an Act of Indian Parliament
HeadOffice– Lucknow, Uttar Pradesh
Deputy MD– Manoj Mittal,  V Satya Venkata Rao
About TamilNadu(TN):
Stadium– M A Chidambaram Stadium, Nehru Stadium(Marina Arena), MGR Race Course Stadium, Mayor Radhakrishnan Stadium
Festivals-Pongal, Thiruvaiyaru Festival, Thaipusam, Tamil New Year, Chithirai Thiruvizha, Karthigai Deepam
<<Read Full News>>

BSE signs 4 MoUs with Mission Youth, Government of J&K to spread Financial Literacy

On 27th November, 2020 BSE Limited (formerly known as Bombay Stock Exchange Ltd) signed four Memorandum of Understandings (MoU) with Mission Youth, Government of Jammu & Kashmir (J&K) to spread financial awareness, support economic development, encourage sustainable livelihood to the Youth in the Union Territory of J&K.
Objective:
The MoUs have been signed with an aim to develop Youngsters to develop skills to make a career in BFSI (Banking, Financial Services and Insurance).
Key Points:
i.Around 400 Youth will be trained in BFSI services in the first phase of the program.
ii.The association will allow eligible candidates to attend financial awareness programmes, undergo skill courses in banking and financial markets and specialised programmes in mutual funds.
About Jammu & Kashmir (J&K):
Hydro Projects – Ratle Hydroelectric project (River Chenab), Kiru hydro-electric project (River Chenab), Pakal Dul (Drangdhuran) Hydroelectric Project (River Marusudar), Kishanganga Power station (River Kishanganga), Dulhasti power station (River Chenab), Salal power station (River Chenab), Uri hydroelectric plant (River Jhelum).
<<Read Full News>>

AP CM, Y.S. Jaganmohan Reddy Launched Interest Free Loan scheme “Jagananna Thodu”

Andhra Pradesh Chief Minister Y.S. Jaganmohan Reddy launched a flagship scheme “Jagananna Thodu” aimed to benefit several small traders and street vendors. The Scheme is allocated with a fund of 905 Crores to benefit 9.05 lakh street vendors and traders.
Objective of Jagananna Thodu:
i.Provide Interest Free loan upto Rs. 10,000 to street vendors and marginal traders.
ii.Rs.1,000 crore is lent to nearly 10 lakh people where the government pays interest upto 100 crores annually.
About Andhra Pradesh:
Chief Minister- Y.S. Jaganmohan Reddy
Governor- Biswabhusan Harichandan
Capitals- Visakhapatnam(Executive), Amaravati(Legislative & de facto capital ), Kurnool(judicial).
<<Read Full News>>

UT of Ladakh gets the Largest Solar Power Project at the Highest Altitude at Leh IAF Station

Leh, in the Union Territory(UT) of Ladakh, gets the largest Solar Power Project at the highest altitude. The project has been established at the Leh Indian Air Force(IAF) Station. This Solar power project was inaugurated by Air Marshal V R Chaudhari, Commander-in-chief, Western Air Command.

• The Rs.122 crores worth Project named “Provision of Solar Photo Voltaic Powerplant 1.5 MW” was conceptualised under the Make in India initiative of the Government of India.

Aim:
To provide sustainable and alternative energy to fossil fuel and other traditional methods of energy generation.
Key Points:
i.The Power project at Leh IAF station is the largest installed power project out of the target 300 MW in 3 phases for defence sector and 14 MW for Leh region established by the Union Ministry of New and Renewable Energy.
ii.This project has been completed within 12 months prior to the completion deadline of 31st March 2021.
About Ladakh:
Lieutenant Governor– Radha Krishna Mathur
Capital – Leh , Kargil
Ladakh became an Union Territory(UT) on 31st October 2019.

UP Governor Anandiben Patel gives assent to Ordinance on “Unlawful Conversions”

On November 28, 2020, Uttar Pradesh Governor Anandiben Patel gave assent to “Uttar Pradesh Prohibition of Unlawful Conversion of Religion Ordinance, 2020” (Uttar Pradesh Vidhi Viruddh Dharm Samparivartan Pratishedh Adhyadesh 2020) which aims to curb forcible or “dishonest” religious conversion including those for the sake of marriage.
On November 24, 2020, Uttar Pradesh Cabinet gave its approval to the draft.
Objective:
The main objective of the ordinance is to prohibit conversion of religion through misrepresentation, force, fraud, undue influence, coercion, allurement or marriage.
Key Points:
i.A marriage will be declared “shunya” or null and void if the main intention of the marriage was to “change a girl’s religion”.
ii.It makes unlawful conversions a non-bailable offence and cognizable offence and Offenders will face jail terms of upto 10 years
About Uttar Pradesh:
Thermal Power Stations – Singrauli Super Thermal Station, Rihand Super Thermal Power Project
Rivers – Betwa River, Chambal River, Dhasan River, Gandak, Ganga.
<<Read Full News>>

AC GAZE

Cyclone Nivar: 4th cyclone to hit the North Indian Ocean region in 2020

On 25th November 2020, the Nivar Cyclone made a landfall near Puducherry, south of Chennai with a wind speed of 85 to 95 kmph. Ambur, Tiruvannamalai, Vellore and Arani also experienced a wind speed of 50 Kmph. The Nivar is the 4th Cyclone to hit the North Indian Ocean Region in 2020. The storm was named “Nivar” based on the guidelines of the World Meteorological Organisation (WMO). Nivar was selected from the names suggested by Iran.

Uttar Pradesh Cabinet clears Proposal to Rename Ayodhya airport as Maryada Purushottam Sri Ram Airport 

On November 24, 2020 Uttar Pradesh(UP) Cabinet, led by Chief Minister Yogi Adityanath, cleared the proposal to rename the Ayodhya airport as Maryada Purushottam Sri Ram Airport, , Ayodhya, UP.  The proposal for the same will be sent to the Ministry of Civil Aviation, Govt of India after it is passed by the state Assembly.

HDFC Bank’s m-cap crosses ₹8 trillion market cap for the 1^st time

The Market Capitalization (m-cap) of HDFC Bank crossed INR 8 Trillion for the first time. It became India’s third company and the first bank to achieve this milestone. Tata Consultancy Services Ltd (TCS) and Reliance Industries Ltd (RIL) are the only two companies to have achieved the landmark. RIL is India’s most valued company having a market value of INR 13.17 Trillion followed by TCS at INR 10.13 Trillion. Hindustan Unilever is fourth with INR 5.08 Trillion m-cap followed by Infosys with INR 4.83 m-cap.

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