Current affairs CSEET September 2020

1. RBL Bank has partnered with Empays Payment Systems to launch a cardless cash withdrawal facility from ATMs by leveraging the Instant Money Transfer (IMT) system.

2. The Reserve Bank of India has issued a notification to all banks on September 03, 2020 stating that “Aditya Birla Idea Payments Bank Limited” has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949 with effect from July 28, 2020.

3. India's fiscal deficit is expected to touch 7 per cent of GDP in 2020-21 fiscal as against budget estimate of 3.5 per cent, according to Brickwork Ratings.

4. As per the official data released by the National Statistics Office (NSO), India’s GDP has contracted by 23.9% in the first quarter (April-June 2020) for FY21.

5. India’s foreign exchange reserves rose by 2.296 billion US dollar to reach 537.548 billion US dollar in the week to August 21.

6. The European Investment Bank (EIB) will invest 650 million-euro (€) in the construction of Kanpur’s (Uttar Pradesh) 1st city metro line.

7. After the country's economy contracted by a record 23.9 per cent in April-June quarter, real GDP for FY21 is expected to shrink by 10.9 per cent, according to State Bank of India's research report - Ecowrap.

8. Nomura has downgraded India’s economic growth rate for current financial year and now expects the GDP to contract by 10.8% in 2020-21.

9. Confederation of Indian Industry (CII) will create a ‘national strategy for future businesses’ together with the Department for Promotion of Industry and Internal Trade (DPIIT).

10. The Reserve Bank of India has released the guidelines to be followed by commercial banks for the appointment of Chief Compliance Officer (CCO).

11. The Reserve Bank of India (RBI) announced on September 10, 2020 announced that a Digital Payments Index (DPI) will be launched.

12. India’s telecom service provider Vodafone Idea Limited has announced that it has re-branded itself as ‘VI’, to mark the completion of the largest telecom merger in the world and present itself as a merged entity.

13. Reliance Industries (RIL) on September 10, 2020, became the first Indian company to cross $200 billion in market capitalization (m-cap).

14. The Lok Sabha passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI.

15. State Bank of India (SBI) has decided to extend OTP-based cash withdrawal of ₹10,000 and above throughout the day across all its ATMs.

16. Asian Development Bank (ADB) agreed to invest $500 million to Bengaluru Metro Rail Corporation’s (BMRCL) line linking Central Silk Board Junction to Kempegowda International Airport – ORR-Airport Metro – Phase-2A and 2B.

17. The Life Insurance Corporation of India (LIC), the golden goose that has come to the rescue of the government time and again, has cumulatively invested Rs 25 lakh crore as of March 2020 in the public sector.

18. The finance ministry said that public sector banks (PSBs) have on-boarded about one crore customers on digital payment modes in just one month of the launch of 'Digital Apnayen' campaign.

19. Finance ministry has estimated that India’s nominal GDP will grow by 19 per cent in nominal terms in financial year 2021-22.

20. The Securities and Exchange Board of India (SEBI) has eased the norms for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) for preferential and institutional placement of their respective units.

21. Regulator IRDAI has identified LIC, GIC and New India Assurance as domestic systemically important insurers (D-SIIs) and subsequently decided to subject them to enhanced regulatory supervision.

22. The National Council of Applied Economic Research (NCAER) has projected the GDP growth for the Indian economy at -12.6% For 2020-21 (FY21) with the remaining three quarters expected to witness a fall. For 2021-22, NCAER projects the GDP of India to grow by 7%.

23. The Union Cabinet has approved J&K official languages Bill 2020. According to the J&K official languages Bill 2020, Kashmiri, Dogri and Hindi along with Urdu and English, will be the official languages in the union territory of Jammu and Kashmir.

24. The Union Territories (UTs) Ladakh & Lakshadweep have been included in the ‘One Nation-One Ration Card’ scheme on ‘Integrated Management of Public Distribution System’(IM-PDS).

25. State-run banks are poised to get ₹20,000 crore through recapitalization bonds this financial year, at a time the coronavirus crisis threatens to bump up bad loans across the banking system.

26. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval to the Haryana Orbital Rail Corridor Project from Palwal to Sonipat via Sohna-Manesar-Kharkhauda.

27. The Delhi Metro Rail Corporation on Engineers Day took a major step towards the development of an indigenously-built CBTC (Communication Based Train Control) based signalling technology for metro railway with the launch of the i-ATS, which is an important sub-system of the signalling system

28. G 20 environmental ministers meeting took plae on Sept 16, 2020 as a part of the Sherpa Track for the G20 leaders;summit, 2020

29. World’s longest highway tunnel connecting Manali to Leh under the Rohtang Pass in the eastern Pir Panjal range of Himalayas on the Leh-Manali highway is now completed after 10 years.

30. India’s new apex regulator of medical education and profession, the National Medical Commission (NMC), came into existence with effect from 25 September 2020.