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GKToday Updates : 14 October 2020 Daily Current Affairs

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GKToday Updates : 13 October 2020 Daily Current Affairs


1. PM Modi releases Rs 100 commemorative coin in honour of Vijaya Raje Scindia

  • Prime Minister Narendra Modi released a commemorative 100 rupee coin in the honour of Vijaya Raje Scindia on her 100th birth anniversary.
  • One of the founding members of BJP, Vijaya Raje Scindia is also popularly known as the Rajmata of Gwalior.
  • She was married to the last ruling Maharaja of Gwalior, Jivajirao Scindia.
  • In later life, she became a politician of considerable influence and was elected repeatedly to both houses of the Indian parliament.

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Coins are minted at the four India Government Mints at Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and NOIDA (UP). The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act.


2. FM announces LTC cash voucher, special festival advance scheme for govt employees

  • Finance Minister Nirmala Sitharaman announced LTC cash voucher scheme and a special festival advance of Rs 10,000 to all government employees to stimulate consumer demand.
  • Under the LTC Cash Voucher scheme, govt employees can opt to receive cash amounting to leave encashment plus three times ticket fare to buy items that attract GST of 12 per cent or more.
  • Moreover, all Central government employees can avail an interest-free advance of Rs 10,000 in the form of a prepaid RuPay Card which is to be paid back in 10 instalments.
  • She also announced a Rs 12,000 crore interest-free 50-year loan to states for spending on capital projects.


3. Paul Milgrom and Robert Wilson jointly win 2020 Nobel Prize in Economics

  • Two American economists Paul R Milgrom and Robert B Wilson jointly won this year’s Nobel Prize in Economics. Both economists are based at Stanford University in California.
  • They were chosen for the Nobel Prize in Economics for improvements to auction theory and inventions of new auction formats.
  • Technically known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the award was established in 1969.

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Nobel Prize is also awarded under Literature, Peace, Physics, Chemistry and Physiology category.


4. Reserve Bank of India reallocates portfolios of deputy governors

  • Reserve Bank of India has reallocated portfolios of deputy governors from October 12, with the department of regulation entrusted to the newly-appointed M Rajeshwar Rao.
  • Besides the department of regulation, Mr Rao will look after the departments of communication, enforcement legalities among others.
  • Deputy Governor MD Patra will continue to look after the monetary policy department. His other portfolios, include department of economic and policy research, deposit insurance and credit guarantee corporation, financial markets operations department, and financial markets regulation department.
  • Deputy Governor MK Jain will look after central security cell, corporate strategy and budget department, consumer education and protection department, department of supervision, and human resource management department, among others.
  • Deputy Governor BP Kanungo will oversee coordination, currency management, external investments and operations, department of government and banks accounts, IT, payment and settlement systems, foreign exchange department, internal debt management department, Right of Information (RIA) Division, and secretary’s department.

GKToday Updates For Online bank coaching:

The Reserve Bank of India is India’s central bank, which controls the issue and supply of the Indian rupee. RBI is the regulator of the entire Banking in India.


5. All eight beaches recommended by Govt gets coveted International Blueflag Certification

  • Environment Minister Prakash Javadekar said that all eight beaches recommended by the Government have got the coveted International Blueflag Certification.
  • It is an outstanding feat, as no Blueflag nation has ever been awarded for 8 beaches in a single attempt.
  • The beaches which got International Blueflag Certification are located in Gujarat, Diu, Karnataka, Kerala, Andhra Pradesh, Odisha and Andaman and Nicobar Islands.
  • In order to qualify for the Blue Flag, a series of stringent environmental, educational, safety and accessibility criteria is met and maintained.

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A world-renowned award trusted by millions around the globe, the Blue Flag programme is operated by the Foundation for Environmental Education (FEE) and is headquartered in Copenhagen, Denmark.


6. World Arthritis Day: 12th October

  • World Arthritis Day is observed globally on 12th October every year to raise awareness about arthritis, an inflammatory condition which causes pain and stiffness in joints which can worsen with age.
  • There are more than 100 different types of arthritis, with different causes and treatment methods. The most common types are osteoarthritis (OA) and rheumatoid arthritis (RA).
  • This day was started by Arthritis and Rheumatism International (ARI) in 1996 in order to spread awareness about arthritis and encourage policymakers to help reduce the burden of arthritis.