Important Daily Current Affairs August 26th 2020 – SBI/ IBPS/ RRB/ TNPSC Current Affiars


National Affairs

E-auction portal launched to promote trading of GI-tagged ‘Kashmir Saffron’

Jammu and Kashmir’s agriculture department has created an e-auction portal to promote trading of GI-tagged ‘Kashmir Saffron’. The Department, under the aegis of India International Kashmir Saffron Trading Centre (IIKSTC), has created the portal in collaboration with NSE-IT, with the sole motive to assure buyers to have access to quality ‘Kashmir Saffron’.

  • The Saffron growers of Kashmir valley and buyers across India have been requested to register themselves as sellers and buyers for E- trading on, so that hassle free e-Trading between registered growers and buyers is ensured

CMIA partnered with UNDP to set up help desk for MSMEs

Chamber of Marathwada Industries and Agriculture (CMIA) partnered with United Nations Development Programme (UNDP) on 24 August to set up help desk for MSMEs amid Covid-19.

  • The partnership aims to establish Covid-19 help desk in order to facilitate Micro, Small and Medium Enterprises (MSMEs). The help desk will be active till January 2021.

State Affairs

Baggage Sanitization and Wrapping machine introduced at Ahmedabad Railway Station

In Gujarat, Ahmedabad Railway Division has successfully introduced a Baggage Sanitization and Wrapping machine at Ahmedabad Railway Station. It is a first of its kind across the Indian Railways. Considering the momentum in transport and travel services, the Division has come up with baggage sanitization and wrapping machine to ensure safe travel amid the pandemic.

  • The indigenously made machine has been installed by a private enterprise, which is running successfully.The machine has been set up on around 69-sq metre space on Ahmedabad Railway Station which is helping Ahmedabad Division to earn additional revenue

MUDRA loan: Tamil Nadu Women top the list

According to the data provided by Ministry of Finance to Rajya Sabha, Tamil Nadu topped the list in availing loans to women. It was followed by West Bengal and Karnataka.

  • Around 15 crore loans amounting to Rs 4.78 lakh crores were disbursed to women borrowers since the inception of Pradhan Mantri Mudra Yojana.
  • As of March 31, 2020. Tamil Nadu had availed Rs 58,227 crores.

Appointments & Resignations

DRDO chief G Satheesh Reddy gets two-year extension

Renowned Indian scientist, G Satheesh Reddy was given a two-year extension as the chairman of Defence Research and Development Organisation (DRDO).

  • He was appointed to the post in August 2018 for two years.
  • The Appointments Committee of the Cabinet has approved the extension of Reddy’s tenure as the DRDO chairman and as the Secretary of the Department of Defence Research & Development (DoDRD) for a period of two years beyond August 26.

About DRDO:

  • Headquarters: New Delhi.
  • Established: 1958

Indian Energy Exchange MD & CEO Rajiv Srivastava resigns

Indian Energy Exchange (IEX), Managing Director and Chief Executive Officer, Rajiv Srivastava has resigned from the post. The Board of Directors of Indian Energy Exchange(IEX)  accepted his resignation. He was relieved from his position with immediate effect from 24th August 2020.

  • Satyanarayan Goel, the current non-executive chairman of the board of IEX was given additional charges as the interim MD and CEO of the company.

About Indian Energy Exchange:

  • MD & CEO: Satyanarayan Goel (Interim).
  • Headquarters: New Delhi.
  • Founded: 27 June 2008

Banking Affairs

NABARD Introduced a Debt and Credit Guarantee Product, ‘Structured Finance and Partial Guarantee Programme to NBFC-MFIs’

The National Bank for Agriculture and Rural Development (NABARD) has introduced, ‘Structured Finance and Partial Guarantee Program for Non-Banking Finance Companies (NBFC)-Micro Finance Institutions (MFIs)’, a dedicated debt and credit guarantee product.

  • NABARD has signed a pact with Vivriti Capital and Ujjivan Small Finance Bank on 14 August 2020 to introduce the initiative, which will enhance sustainable finance access to microenterprises and low-income households.


  • Headquarters– Mumbai, Maharashtra
  • Chairman– G R Chintala

About Ujjivan Small Finance Bank:

  • HeadOffice– Bengaluru, Karnataka
  • MD & Chief Executive Officer(CEO)– Nitin Chugh

SBI General Insurance Launches ‘Shagun – Gift an insurance’ policy

SBI General Insurance, one of the leading general insurance companies in India, announced the launch of first-of-its-kind offering, ‘Shagun – Gift an Insurance”, a unique gift of Personal Accident policy. This product was filed by SBI General under Insurance Regulatory and Development Authority’s (IRDAI) Sandbox regulations.

  • Shagun covers personal accident insurance which provides complete financial protection to the insured person against uncertainties such as accidental death and partial or total disabilities, and permanent as well as temporary disabilities resulting from an accident.

About SBI General Insurance Co Ltd:

  • Headquarters– Mumbai, Maharashtra
  • MD and CEO– Prakash Chandra(P.C.) Kandpal

ICICI Bank Becomes the 1st Bank in India Uses Satellite Data to Assess Credit Worthiness of Farmers

ICICI Bank uses satellite data(imagery from Earth observation satellites) to assess credit worthiness of farmers.

  • ICICI Bank has become the 1st bank in India to use such a technique to measure an array of parameters related to the land, irrigation and crop patterns and use it in combination with demographic and financial parameters to make quick lending decisions for farmers.

About ICICI Bank:

  • Headquarters– Mumbai, Maharashtra
  • MD & CEO– Sandeep Bakhshi

Awards & Honors

20-year old Indian wins ‘World’s Fastest Human Calculator’ title

India’s Neelakanta Bhanu Prakash has won the ‘World’s Fastest Human Calculator’ title. The 20-year-old won the first-ever gold for India in Mental Calculation World Championship at Mind Sports Olympiad (MSO) held in London recently.

  • Neelakanta Bhanu Prakash belongs to Hyderabad and he is currently pursuing Mathematics (Hons.) at Delhi University’s St Stephen College. He is the proud owner of four world records and 50 Limca records for being the fastest human calculator in the world.

NLCIL bags “Swachhta Hi Seva award” for transforming Neyveli Township

The Government of India Navratna, NLC India Limited (NLCIL) has bagged the award for making an extremely valuable contribution in the implementation of the “Swachhta Hi Seva Programme”.

  • Rakesh Kumar, CMD of NLCIL hailing the efforts of NLCIL in transforming the entire Neyveli into a plastic-free, clean and green campus, and announcing the “Swachhta Hi Seva 2019” Award.

About NLCIL:

  • Founded: 1956.
  • Headquarters: Neyveli, Chennai, Tamil Nadu.

Mountaineer Anita Kundu to be honoured with Tenzing Norgay National Adventure Award

Mountaineer Anita Kundu has been chosen for the Tenzing Norgay National Adventure Award in the ‘land adventure category’. She will be honoured with the award on August 29, 2020.

  • Anita Kundu is a resident of Hisar, Haryana. She is the first Indian woman to climb Mount Everest from both the Indian and the Chinese sides.
  • She gave the credit for her success to her mother. She also thanked the Indian government for selecting her for the award.

Books & Authors

‘Running Toward Mystery: The Adventure of an Unconventional Life’ Authored by Tenzin Priyadarshi and Zara Houshmand

The book named ‘Running Toward Mystery: The Adventure of an Unconventional Life’ authored by Tenzin Priyadarshi and co-written by Zara Houshmand released. The book provides an account of how the Dalai Lama traced his Spiritual Teacher Khunu Lama in India.

  • The book also shares his thoughts on Science and Technology, Meditation and Spiritual  Disillusionment and the relationship between Buddhism and the modern world.