02 October 2020 Current Affairs

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02 October 2020 Current Affairs
02 October 2020 Current Affairs
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EXAMSDAILY

National Affairs

Union Power Ministry releases Draft Electricity (Change in Law, Must-run status and other matters) Rules 2020 – Key Details

Union Ministry of Power released the Draft Electricity Rules 2020. The rules issued by the ministry with an objective to bring in quick compensation to power plants. The draft also proposes to let trading licensees charge a weighted average tariff of all the renewable energy bids.

  • The draft rule now provides 75% of Power Purchase Agreement tariff, in case if compensation clauses are not provided in the PPA.

About Power Ministry:

  • Union Minister: Raj Kumar Singh
  • Constituency: Arrah, Bihar

Government unchanged Interest rate for PPF, NSC, and other small savings schemes -Oct to Dec Quarter

The government has kept unchanged the interest rates on small saving schemes for October to December quarter. These interest rates are fixed by the Ministry of Finance on a quarterly basis.

The post office small savings investments are National Savings Certificates (NSC), KVP, Time-deposits, Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY) etc.

S.No Small Savings Scheme Interest Rate
1 Post Office Savings Account 4%
2 5-Year Post Office Recurring Deposit (RD) Account 5.80%
3 Post Office Time Deposit (TD) Account – One Year 5.50%
4 Post Office Time Deposit Account (TD) – Two Years 5.50%
5 Post Office Time Deposit Account (TD) – Three Years 5.50%
6 Post Office Time Deposit Account (TD) – Five Years 6.70%
7 Post Office Monthly Income Scheme Account (MIS) 6.60%
8 Senior Citizen Savings Scheme (SCSS) 7.40%
9 15-Year Public Provident Fund Account (PPF) 7.10%
10 National Savings Certificates (NSC) 6.80%
11 Kisan Vikas Patra (KVP) 6.90%
12 Sukanya Samriddhi Account 7.60%

About Ministry of Finance:

  • Union Minister: Nirmala Sitharaman
  • Minister of State: Anurag Singh Thakur

Deadline for Filing Income Tax Return for the year 2019-20 extended to November 30

The Central Board of Direct Taxes (CBDT) which is a statutory authority functioning under the Central Board of Revenue Act, 1963 has extended the Income Tax Return filling date to November 30.

  • This is the fourth time that the board has extended the deadline for the year 2019-20 due to the coronavirus pandemic situation.
  • It was first revised till June 30, then July 31, then September 30 and now till November 30.

About CBDT:

  • Formation: 1944
  • Residence: New Delhi

New Development Bank sanctions Loan worth USD 741 million for Mumbai Metro, Delhi-Ghaziabad-Meerut Rapid Rail

New Development Bank which is also known as BRICS Bank, has sanctioned loan for the two projects namely Mumbai Metro, Delhi-Ghaziabad-Meerut Rapid Rail. The loan amounts to USD 741 million.

  • The financial institution has also approved a loan of USD 500 million for the Delhi-Ghaziabad-Meerut RRTS Project.
  • The loan amount will be used for implementing a metro rail Line 6 with a length of about 14.47 km to improve Mumbai’s transport and traffic conditions by providing a modern metro system, featuring high-capacity, safe and comfortable mode of transport

About New Development Bank:

  • Headquarters location: Shanghai, China
  • Founded: 15 July 2014
  • Founder: BRICS

Shramdan drive conducted by Dept of Justice to observe Birth Anniversary of Mahatma Gandhi

Department of Justice which  is a part of Ministry of Law & Justice as per the Allocation of Business Rules of Government of India conducted Shramdan drive in New Delhi to commemorate the Birth Anniversary of Mahatma Gandhi.

  • As per the Law and Justice Ministry online essay and painting competition were held as part of drive. All the officers and staff pledged to maintain cleanliness as an essential character in their life.

About Ministry of Law & Justice

  • Union Minister: Ravi Shankar Prasad

International Affairs

19th round of Foreign Office Consultations held between India & Myanmar

The 19th round of Foreign Office Consultation was held between India and Myanmar. Due to COVID19 the discussion were conducted through online mode. The Indian side was led by Foreign Secretary Harsh Vardhan Shringla and the Myanmar side was represented by Permanent Secretary, U Soe Han.

  • Both nations reviewed the entire gamut of relations, including border cooperation and the ongoing restoration work on earthquake damaged pagodas in Bagan.

About Myanmar:

  • Capital: Naypyitaw
  • President: Win Myint
  • Currency: Burmese kyat

State Affairs

Gujarat State Government signed MoU with Denmark in the area of Water Sector

The State Government of Gujarat signed Memorandum of Understanding (MoU) with the Government of Denmark in water sector. This MoU was signed through video conferencing.

  • The aim of this MoU is to expedite training, waste water treatment, knowledge exchange, cooperation and water management in both countries.
  • It has been signed for five-year period and involves setting up Indo-Danish Water Technology Alliance in Gujarat.

About Denmark:

  • Capital: Copenhagen
  • Currency: Danish krone

Tamil Nadu state government implements ‘One Nation One Ration Card’ scheme

Chief Minister of Tamil Nadu Edappadi Palaniswam has distributed One Nation One Ration Card scheme. This scheme has come into force in 32 districts of Tamil Nadu. The remaining states/UTs are targeted to be integrated into the scheme by March 2021.

About One Nation One Ration Card:

The scheme will allow ration card holders to receive their monthly entitlements from any public distribution system (PDS) in the state/

About Tamil Nadu:

  • Chief Minister: Edappadi K. Palaniswami
  • Governor: Banwarilal Purohit
  • Capital City: Chennai

Kerala’s first Mega Food Park inaugurated virtually

Union Minister for Food Processing Industries, Agriculture and Farmers Welfare inaugurated Kerala’s first and nation’s twentieth mega food park in Palakkad district. The inauguration was conducted virtually through video conferencing.

  • The Park will also provide direct and indirect employment to 5,000 persons and benefit about 25,000 farmers
  • This Mega Food Park has been set up in 79.42 acres of land at a project cost of Rs. 102.13 crore.

About Kerala:

  • Capital: Thiruvananthapuram
  • Governor: Arif Mohammad Khan
  • Chief minister: Pinarayi Vijayan

Economy

CRISIL launches India’s first domestic alternative investment fund benchmark indices

CRISIL which is an Indian analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global. Now CRISIL launched benchmark indices for the domestic alternative investment fund (AIF) industry. The indices will cover all three AIF categories and provide investors with a metric to compare the performance of a scheme with the peer set.

  • The indices are launched to access the performance of Alternate Investment Funds.
  • The Index will also helpful to fund managers and other stakeholders to compare themselves, and course-correct, where required.

About CRISIL:

  • CEO: Ashu Suyash
  • Headquarters: Mumbai
  • Founded: 1987

Banking Affairs

RBI eliminates Six Public Sector Banks including OBC, Allahabad Bank from Second Schedule of RBI Act

Reserve Bank of India (RBI) is the central bank of India, which controls the issue and supply of the Indian rupee ahs eliminated the six Public Sector Banks from Second Schedule of RBI Act. Those six banks are merged with other public sector banks (PSBs) with effect from April 1.

The Six Public Sector Bank are:

  • Syndicate Bank
  • Oriental Bank of Commerce (OBC)
  • United Bank of India
  • Andhra Bank
  • Corporation Bank
  • Allahabad Bank

About RBI:

  • Headquarters: Mumbai
  • Founded: 1 April 1935, Kolkata
  • Governor: Shaktikanta Das

Appointments

AIR Marshal Vikram Singh appointed as Senior Air Staff Officer of Western Air Command

AIR Marshal Vikram Singh has been appointed as Air Staff Officer of Western Air Command. He was commissioned into the fighter stream on 21 December 1984.

  • He has also served at the Integrated Defence Staff Headquarters and was Assistant Chief of the Air Staff (Plans) at Air Headquarters before taking over the present appointment.

About Western Air Command:

  • Headquarters location: New Delhi
  • Branch: Indian Air Force
  • Founded: 22 July 1949

Awards

Swachh Bharat Awards 2020 – Gujarat secures Top Spot

Union Minister for Jal Shakti Gajendra Singh Shekhawat has presented the The Swachh Bharat Awards for the year 2020. Among the overall states Gujarat secures top position. Tirunelveli district of Tamil Nadu secured the top spot in district level.

  • Khachrod block in Ujjain district in Madhya Pradesh was awarded the first position
  • Chinnanur Village in Tamil Nadu bagged the top slot at Gram Panchayat level.
  • Under the Samudayik Shouchalaya Abhiyan, Gujarat and Uttar Pradesh were awarded as the best performing states mean while Prayagraj and Bareilly got it for being the best performing districts.
  • Under the Gandagi Mukth Bharat Mission, Haryana and Telangana were awarded the top slot.
  • The Tirunelveli of Tamil Nadu got the first prize at district level

About Jal Shakti Ministry:

  • Union Minister: Gajendra Singh Shekhawat
  • Minister of State: Rattan Lal Kataria

Ranking & Index

Data Governance Quality Index Released – Department of Fertilizers ranked at Second Position

Department of Fertilizers under the Ministry of Chemicals and Fertilizers secured the 2nd position among the 16 Economic Ministries and also the department secured the 3rd spot out of the 65 Ministries or Departments.

  • This report is released based according to the survey conducted by the Development Monitoring and Evaluation Office (DMEO), NITI Ayog in order to assess the performance of different Ministries or Departments’ on the implementation of Central Sector Schemes (CS) and Centrally Sponsored Schemes (CSS).
  • Department of Fertilizers under the Ministry of Chemicals and Fertilizers has been ranked 2nd amongst the 16 Economic Ministries or Departments and
  • The Ministry has also been ranked 3rd out of the 65 Ministries or Departments.
  • The total score of the department was 4.11 on a scale of 5 in the Data Governance Quality Index (DGQI),

Summits & Conference

RAISE Summit 2020 – Responsible AI for Social Empowerment 2020 to be inaugurated by PM Narendra Modi

RAISE 2020- ‘Responsible AI for Social Empowerment 2020’ will be inaugurated by Prime Minister Narendra Modi on October 05. The summit will be held from October 5-9, 2020. It is being conducted by the Government of India along with the Ministry of Electronics and Information Technology and NITI Aayog.

  • The summit will be organized by the Government of India along with the Ministry of Electronics and Information Technology and NITI Aayog.

About Ministry of Electronics and Information Technology:

  • Union Minister: Ravi Shankar Prasad
  • Constituency: Patna Sahib, Bihar

VAIBHAV Summit 2020, A Global Virtual Summit for scientist- To be inaugurated by PM Modi on October 2

VAIBHAV (Vaishvik Bhartiya Vaigyanik) will inaugurate by Prime Minister Narendra Modi on October 2. This Summit will be held through online mode. The Summit is scheduled from 2nd October to 31st October 2020.

  • More than 3000 overseas Indian origin academicians and scientists from 55 countries and more than 10,000 resident academicians and scientists are taking part in the summit.

About Ministry of Science and Technology:

  • Union Minister: Harsh Vardhan
  • Constituency: Chandni Chowk, New Delhi

UNGA Fourth World Conference on Women 2020

United Nations General Assembly held Fourth World Conference on Women 2020. This is the also 25th anniversary of the Beijing Declaration and Platform for Action to highlight India’s achievements on gender equality. The Conference was addressed by Union Minister for Ministry of Women and Child Development Smriti Zubin Irani.

  • The theme for this year conference is ‘Accelerating the realization of gender equality and the empowerment of all women and girls’.

About UNGA:

  • Secretary General: Antonio Guterres
  • Headquarters: New York, United States
  • Founded: 24 October 1945

Important Days

International Day of Non Violence is observed on 2 October

Every year International Day of Non Violence is observed on 2 October on the birthday of Mahatma Gandhi. This day is also referred to as Gandhi Jayanti in India. The day aims to proclaim the message of non-violence, comprehend through education and public awareness.

  • The year 2020 also marks 151st birth anniversary of the Mahatma Gandhi who was born on 2 October 1869, in Porbandar which is a city in Gujarat.

About UNGA:

  • Headquarters: New York, United States
  • Founder: United Nations
  • Founded: 1945

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