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GKToday Updates : 17 October 2020 Daily Current Affairs

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GKToday Updates : 17 October 2020 Daily Current Affairs


1. FM Nirmala Sitharaman participates in 102nd meeting of World Bank Development Committee Plenary

  • Finance Minister Nirmala Sitharaman participated in 102nd meeting of the World Bank Development Committee Plenary through video conference.
  • Sitharaman said that the Government of India has taken several measures to contain the spread of pandemic, and also to mitigate its social and economic impact.
  • She further said that the Government has announced the first stimulus of 23 billion dollar to provide direct cash transfers and food security measures to the poor.
  • She stated that collective action is the key for effective response to the pandemic and welcomed the strong performance in quarter – 4 of financial year 2020 wherein World Bank Group has committed 45 billion dollar for COVID-19 response.

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The World Bank is an international financial institution that provides loans and grants to the governments of low and middle income countries for the purpose of pursuing capital projects.

Headquarters: Washington, D.C. United States; President: David Malpass


2. RBI to conduct first-ever OMO purchase of State Developments Loans (SDLs) on October 22

  • Reserve Bank of India will conduct its first-ever Open Market Operation (OMO) purchase of State Developments Loans (SDLs) on 22nd October.
  • The OMOs worth ten thousand crore rupees will be conducted as a special case during the current financial year with an aim to improve liquidity and facilitate efficient pricing.
  • The size of the auctions may be enhanced subsequently, depending on the market response. The RBI will purchase the SDLs through a multi-security auction using the multiple price method.

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The Reserve Bank of India is India’s central bank, responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.

Headquarters: Mumbai; Governor: Shaktikanta Das


3. Minister of Agriculture NS Tomar inaugurates the India-International Food & Agri Week

  • Narendra Singh Tomar inaugurated the India-International Food & Agri Week virtually on the occasion of World Food Day.
  • The focus of the Food & Agro Tech will be on the use and benefit of the technology in the field of food and agriculture sector.
  • While addressing the inaugural session, Mr. Tomar stated that Indian food processing sector is 32% of India’s food market.


4. World Food Day: 16th October

  • World Food Day is observed globally on 16th October every year to mark the foundation of Food and Agriculture Organisation of the United Nations in 1945.
  • The Day stresses the need for global solidarity to help all populations, and especially the most vulnerable to recover from the crisis, and to make food systems more resilient and robust.
  • It also highlights the importance to create a food system that can withstand increasing volatility and climate shocks, deliver affordable and sustainable healthy diets for all, and decent livelihoods for food system workers.

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The Food and Agriculture Organization of the United Nations is a specialized agency of the United Nations that leads international efforts to defeat hunger and improve nutrition and food security.

Headquarters: Rome, Italy


5. India’s first Oscar-winning costume designer, Bhanu Athaiya, passes away

  • Bhanu Athaiya, India’s first Oscar-winning costume designer, passed away at the age of 91.
  • The renowned designer, who won an Academy Award for best costume design for the 1983 classic movie ‘Gandhi’, passed away in her sleep after a prolonged illness.
  • In a career of more than 5 decades, Bhanu Athaiya gave some of Bollywood’s best-remembered looks which include Waheeda Rehman in ‘Guide’, Vijayantimala in ‘Aamrapaali’ and Zeenat Aman in ‘Satyam Shivam Sundaram’.

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The Academy Awards, popularly known as the Oscars is the most famous and prestigious awards in the entertainment industry.