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GKToday Updates : 19 Nov 2020 Daily Current Affairs
1. PM Modi & his Luxembourg counterpart to hold virtual summit today
- Prime Minister Narendra Modi and his Luxembourg counterpart Xavier Bettel will hold a virtual summit today.
- This will be the first stand-alone Summit meeting between India and Luxembourg in the past two decades.
- The leaders will discuss the entire spectrum of bilateral relationship, including strengthening of India-Luxembourg cooperation in the post-COVID world. They will also exchange views on international and global issues of mutual interest.
- India and Luxembourg have continued to maintain high level exchanges in the recent past. The two Prime Ministers have met previously on three occasions.
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Luxembourg is a small European country, surrounded by Belgium, France and Germany.
Capital: Luxembourg; Currency: Euro
2. Goldman Sachs projects India GDP to shrink by 10.3% in FY21
- Investment bank Goldman Sachs expects India’s gross domestic product (GDP) to contract by 10.3 percent in the financial year 2020-21, expecting an uptick in the economy from its previous estimate in September of a 14.8 percent contraction.
- The American firm projected India’s GDP to rebound to 13 percent in the succeeding fiscal, FY22.
- Goldman Sachs said that the developments on the vaccine front will be very helpful in the recovery.
- The Reserve Bank of India (RBI) expects India’s GDP to contract by 9.5 percent on a real basis during the ongoing fiscal due to the impact suffered by the economy during the COVID-19 pandemic.
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The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company headquartered in New York City. It offers services in investment management, securities, asset management, prime brokerage, and securities underwriting.
3. World Toilet Day being observed today
- World Toilet Day is observed every year to create awareness about sanitation and encourage people to use toilets.
- Department of Drinking Water and Sanitation will celebrate World Toilet Day under ‘Swachh Bharat Mission-Grameen’ for promoting awareness on access to safe sanitation.
- On this occasion, Jal Shakti Minister Gajendra Singh Shekhawat will felicitate top districts and States with ‘Swachhata Puraskar’.
- The theme of this year’s World Toilet Day is ‘sustainable sanitation and climate change’.
- Safe and hygienic toilets form the strongest defence mechanism against COVID19 and other diseases.
Swachh Bharat Abhiyan or Clean India Mission is a country-wide campaign initiated by the Government of India in 2014 to eliminate open defecation and improve solid waste management. Phase 1 of the mission lasted till October 2019. Phase 2 will be implemented between 2020-21 and 2024-25.
4. RBI names 2 startups as part of its regulatory sandbox programme
- RBI has announced the names of two startups that have been selected as a part of its regulatory sandbox programme.
- The regulatory sandbox is a protected environment within which the selected companies will operate.
- These are Jaipur based Natural Support Consultancy Services Private Ltd & New Delhi based Nucleus Software Exports Ltd.
- The former has named its product ‘eRupaya’, which will facilitate offline Person-to-Merchant transactions & offline digital payments in remote locations; the second company’s product ‘PaySe’, proposes to help in digitisation of payments in rural areas through an offline payment solution & a digitised SHG-centered ecosystem.
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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
5. Former Goa Governor & veteran BJP leader Mridula Sinha passes away
- Former Goa Governor and veteran BJP leader Mridula Sinha passed away in a hospital in Delhi. She was 77.
- Mridula Sinha was also the first woman Governor of Goa.
- A renowned Hindi writer, Mridula Sinha also served as the head of the BJP’s women’s wing and chairperson of Central Social Welfare Board in the Ministry of Human Resource Development.
- President Ram Nath Kovind and Prime Minister Narendra Modi have expressed grief over the demise of the veteran leader.