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GKToday Updates : 14 October 2020 Daily Current Affairs

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GKToday Updates : 14 October 2020 Daily Current Affairs

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. He will also look after the dept of communication, enforcement legalities.
  • Deputy Governor MD Patra will continue to look after the monetary policy department among others.
  • Deputy Governor MK Jain will look after central security cell, corporate strategy and budget department among others.
  • Deputy Governor BP Kanungo will oversee coordination, currency management, dept of government and banks accounts, IT, payment and settlement systems, foreign exchange dept among others.

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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.


FM allows 20 States to raise over Rs 68,000 Cr through Open Market Borrowings

  • The Dept of Expenditure in the Ministry of Finance granted permission to 20 States to raise an additional amount of 68,825 crore rupees through open market borrowings.
  • Additional borrowing permission has been granted at 0.50 percent of the Gross State Domestic Product to those States who have opted for Option 1 out of the two options suggested by the Ministry to meet the shortfall arising out of GST implementation.
  • The facilities available to the States who choose Option-1 include a special borrowing window coordinated by the Ministry of Finance to borrow the amount of shortfall in revenue through issue of debt.

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The total shortfall in the revenue of the States is around 1.1 lakh cr.


Dr Harsh Vardhan chairs 21st meeting of high-level GoM on COVID-19

  • Health & Family Welfare Minister, Dr. Harsh Vardhan chaired the 21st meeting of the high-level Group of Ministers on COVID-19.
  • Appreciating the efforts of COVID warriors, Dr. Harsh Vardhan said, India has the highest recovery rate of 86.78 percent and lowest fatality rate of 1.53 per cent in the world. He informed that India’s testing capacity has been hiked to 1.5 million tests per day.
  • The GoM has appealed to the people to adopt COVID appropriate behaviour during the forthcoming festival season.
  • In the meeting, Dr. Vinod K Paul, apprised the GoM about the process and status of COVID vaccine development in India and around the world.

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The Prime Minister has launched the countrywide Jan Andolan to adopt COVID appropriate behaviours to curb the spread of diseases while celebrating the festivals.


Law Minister to virtually host 7th Justice Minister’s meeting of SCO member states

  • Union Law Minister, Ravi Shankar Prasad will virtually host the 7th Justice Minister’s meeting of Shanghai Cooperation Organisation (SCO) member states on October 16, 2020.
  • The meeting will be attended by Law and Justice Ministers of Pakistan, China, Kazakhstan, Tajikistan and Kyrgyz Republic.
  • The countries will further deliberate on creating favourable conditions for resolving the disputes, on the areas of the cooperation, and implementation of the Action Plan of the Working Groups of Experts on legal Services and Forensic Activities.
  • A joint statement by the SCO member states will also be signed on the occasion.

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SCO Headquarters: Beijing, China; Founded: 15th June 2001; Secretary General: Vladimir Norov


Kerala becomes first state to have completely digital, hi-tech classrooms in all public schools

  • Kerala has become the first state in the country to have high-tech classrooms in all its public schools.
  • CM Pinarayi Vijayan declared the state public education sector has gone completely digital.
  • Kerala Infrastructure and Technology for Education (KITE) has implemented the project which comes under the general education department.
  • Over 3.74 lakh digital equipments were distributed in 16,027 schools for the smart classroom project.
  • The mission aims to regain lost public trust in govt schools and provide free education to the entire student population of Kerala.

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Kerala Capital: Thiruvananthapuram; Governor: Arif Mohammad Khan; Chief Minister: Pinarayi Vijayan


India, Maldives sign LOC agreement of $400 mn for GMCP implementation

  • India and Maldives signed the Line of Credit (LOC) Agreement of USD 400 million for the implementation of the Greater Male Connectivity Project (GMCP).
  • In August 2020, India had announced that it will fund the implementation of Greater Male Connectivity Project (GMCP) through a USD 100 million grant and USD 400 million Line of Credit (LOC).
  • It is the single largest connectivity and infrastructure project in the island nation.
  • The agreement was signed between Nirmit Ved, General Manager of Exim bank and Maldives Finance Minister Ibrahim Ameer.

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Earlier on September 20, 2020, India had also provided over $250 million to the neighbouring country as the financial assistance to face the economic challenges arising because of the COVID-19 pandemic.


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