Exclusive Current Affairs Tonic For NABARD & HARYANA Co-Operative Bank (Part I)

Exclusive Current Affairs Tonic for NABARD &
HARYANA Co-operative Bank (Part I)

Banking & Economy
Sixth Bi-monthly Monetary Policy Statement, 2019-20
 The Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) on Feb 06 has decided to keep its
short-term lending rate -- repo rate rate -- unchanged at 5.15 per cent in its sixth and last bi-monthly policy
review of the fiscal year 2019-20.
 RBI maintained its accommodative stance to support growth and said there is policy space available for future
actions.
RBI RATES & RATIOS
Policy Repo Rate 5.15%
Reverse Repo Rate 4.90%
Marginal Standing Facility Rate 5.40%
Bank Rate 5.40%
CRR 4%
SLR 18.25%
 The consumer price index (CPI) inflation projection is revised upwards to 6.5 per cent for Q4:2019-20; 5.4-5.0
per cent for the first half of FY21; and 3.2 per cent for Q3:2020-21, with risks broadly balanced.
 GDP growth for 2020-21 is projected at 6.0 per cent – in the range of 5.5-6.0 per cent in H1 and 6.2 per cent in
Q3. According to Economic Survey, released on January 31, GDP growth rate has been projected at 6-6.5 per
cent.
 India’s foreign exchange reserves were at US$ 471.4 billion on February 4, 2020 – an increase of US$ 58.5
billion over end-March 2019.
 To View the full Report: CLICK HERE
RBI approves e-KYC
 The Reserve Bank of India (RBI) allowed video-based authentication as an alternative to the accepted e-KYC
(know-your-customer) practices, but such verification will be Aadhaar-based, either online or offline.
 The need for video-KYC was proposed in the report of the Expert Committee on Micro, Small and Medium
Enterprises, headed by UK Sinha, former chairman of the Securities and Exchange Board of India (Sebi) in Jun
2019.
 The panel observed that currently for conducting even e-KYC, the customer has to be physically present and the
whole process takes lots of data handling.
RBI launches new PPI
 The RBI introduced a new semi-closed prepaid payment instrument (PPI) which can be used for transaction of
goods and services up to a limit of Rs 10,000.
 The loading facility of the instrument will be linked only from a bank account. In the monetary policy review in
Dec 2019, the RBI had said it will introduce these kinds of PPIs in order to promote small value digital
transactions.
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 The main features of these instruments are: such PPIs will be issued by bank and non-bank PPI issuers after
obtaining minimum details of the PPI holder.
 The amount loaded in such PPIs during any month shall not exceed Rs 10,000 and the total amount loaded during
the financial year shall not exceed Rs 1,20,000.
 There are currently three kinds of PPIs allowed by RBI -- closed system, semi-closed and open PPIs.
RBI caps aggregate exposure
 To protect consumers’ interest, the RBI said that on a peer-to-peer (P2P) lending platform the permissible
exposure of a lender to all borrowers should not exceed Rs 50 lakh at any given point of time.
 The lender investing more than Rs 10 lakh across P2P platforms will produce a certificate to P2P platforms from a
practising Chartered Accountant certifying minimum net-worth of Rs 50 lakh.
New cash withdrawal rules
 Keeping in view the incidents of ATM-related frauds on the rise, State Bank of India (SBI) has introduced a
one-time password (OTP)-based cash withdrawal system for its ATMs.
 SBI’s OTP-based ATM cash withdrawal facility has come into system with effect from 1 Jan 2020.
 Country’s largest lender informed its customers about the new ATM withdrawal facility through a tweet.
 The bank said that this facility will be available for transactions above Rs 10,000 between 8 pm and 8 am.
 From now on, if you are planning to take out cash from SBI ATM after 8 in the night, don’t forget to take your
phone along, as you won’t be able to do so without your mobile.
Waiver of MDR charges
 Finance Minister Nirmala Sitharaman on 28 Dec said that from 1 Jan, 2020, businesses with annual turnover of
more than Rs 50 cr will have to offer low cost digital payment options to customers and Merchant Discount
Rate (MDR) will not be levied on either customers or merchants.
 Low cost digital payment modes will include options such as BHIM UPI, UPI QR Code, Aadhaar Pay, Debit
Cards, NEFT, RTGS, among others.
 The move is also expected to boost payments via home-grown real-time payments system Unified Payments
interface (UPI) at merchant locations, along with RuPay debit cards.
 MDR is the cost paid by a merchant to a bank for accepting payment from their customers via digital means.
Govt infuses capital
 The govt has approved releasing Rs 8,655 cr to three public sector lenders -- Allahabad Bank, Indian Overseas
Bank (IOB) and UCO Bank -- for preferential allotment of shares.
 The Ministry of Finance has approved infusing fresh capital amounting to Rs 2,153 cr in Allahabad Bank, Rs
2,142 cr in UCO Bank and Rs 4,630 cr in IOB via for preferential allotment of shares.
 Fresh capital infusion by the govt is a part of the announcement made by Finance Minister Nirmala Sitharaman, in
her maiden Budget on 5 Jul.
 Sitharaman had first proposed a capital infusion Rs 70,000 cr in public-sector banks in two phases.
 First, banks were to subscribe to bonds floated by the govt and in the second phase, the govt was to infuse the
money into these banks.
 As of 20 Nov, the govt had infused Rs 60,314 cr in public-sector banks of the total of Rs 70,000 cr that was
announced for these banks.
RBI conducts OMO
 In the third special open market operation (OMO) in many weeks, the Reserve Bank of India (RBI) on 6 Jan
bought three long-term securities worth 10,000 cr rupees while selling the same amount of three short-term
bonds.
 The RBI had announced to simultaneous purchase and sale of Govt Securities (G-Secs) under OMOs for 10,000
cr rupees. In the current OMO purchase auction, the RBI offered to purchase three securities including 10-year
benchmark govt bond, as against just one bond in the previous two auctions.
 It got bids worth 64,505 cr rupees for the three bonds but choose to accept only bids of 10,000 cr rupees under the
OMO purchase auction.

 These special OMO auctions are similar to the US Federal Reserves’ Operation Twist aimed at faster
transmission of policy rates.
IR, SBI come together
 Indian Railways’ South Central Railway (SCR) zone has signed a Memorandum of Understanding (MoU) with
State Bank of India(SBI) for ‘doorstep banking’.
 The signed MoU will help in direct pickup of earnings covering all 585 Railway stations over SCR Zone.
 With the facility of direct pick up of cash from all the railway stations it will save the tedious and complex
activity of movement of cash earnings through ‘cash safes’ by trains.
RBI directive to large co-op banks
 The RBI on 27 Dec directed large cooperative banks to report all exposures of Rs 5 cr and more to the Central
Repository of Information on Large Credits (CRILC), a move aimed at early recognition of financial distress.
 The RBI has created a CRILC of commercial banks, all India financial institutions and certain non-banking
financial companies with multiple objectives, which, among others, include strengthening offsite supervision and
early recognition of financial distress.
Pine Labs, KMB partner
 Pine Labs, one of India’s largest merchant-focused companies and Kotak Mahindra Bank (Kotak) announced a
tie-up to enable EMI payments via Kotak Debit Cards.
 This arrangement enables over 10 mn eligible Kotak debit card customers to pay for their purchases in easy
instalments via the Pine Labs POS terminals. Pine Labs has a network of over 150,000 merchants across India.
 The minimum purchase value to avail EMIs on Kotak Debit Cards facility is Rs. 8,000 and customers have the
flexibility to repay the loan over a tenure of 3 months to 12 months.
SBI to refund homebuyers
 State Bank of India (SBI) on Jan 7 announced the Residential Builder Finance with Buyer Guarantee (RBBG)
scheme, which will issue a guarantee of completion for select residential projects to its home loan customers.
 This product will improve the confidence of the home buyers and increase the velocity of sales of residential
units. The scheme which will begin from 10 cities, and include affordable housing projects priced up to Rs 2.50
cr.
RBI releases national strategy
 Wider acceptance and adoption of digital payments will play a key role towards financial inclusion, according to
the Reserve Bank of India’s (RBI’s) recommendation for sustainable financial inclusion during 2019-20.
 Along with traditional banking outlets, payments banks, small finance banks, co-operative banks and other non-
bank entities such as fertilizer shops, fair price shops, should also promote efficiency and transparency through
digital transactions, the banking regulator said in the National Strategy for Financial Inclusion (NSFI) report
on 10 Jan.
Flipkart’s new payment solution
 Walmart-owned e-commerce firm Flipkart on 6 Jan announced the launch of Visa Safe Click (VSC), powered by
Visa, the payments technology giant.
 This solution will eliminate the need for ‘one time passwords’ (OTP) for transactions up to Rs. 2,000, while also
ensuring a completely secure payment experience. Flipkart said it hopes to reduce the steps in the payment
system.
Banks, bankers may face fines
 The Reserve Bank of India (RBI) may impose heavy penalties on banks, and stipulate higher provisioning for
stressed loans following a supervisory review of its Jun 7 circular.
 And, in a first-of-its-kind move, chief executive officers (CEOs) and senior management of banks could also be
held liable for lack of progress.
 The Jun 7, 2019, circular was only applicable for stressed accounts in excess Rs 2,000 cr.
RBI allows 24x7 forex ops
 The Reserve Bank of India (RBI) said select banks in India can offer forex rates to Indian clients beyond the inter-
bank market hours, which now run from 9am to 5pm.
 In effect, this opens up the forex market in India round the clock, allowing Indians to hedge their foreign
exchange risks at any time of the day.
 This will also make the offshore currency markets in Dubai and Singapore less attractive for Indian investors.
Two banks to cease operations
 The Central Bank of Sri Lanka has permitted Indian private sector lenders Axis Bank and ICICI Bank to close
their operations in the island nation. This follows requests by their parent banks.
 The licenses issued to them will be cancelled once the winding-up operations are complete.
 The two banks are no longer permitted to carry on banking operations, including accepting deposits from the
public.
Forex reserves increases
 The country’s foreign exchange reserves touched a record high of $461.157 bn, after it surged by $3.689 bn in the
week to Jan 3, according to the Reserve Bank of India (RBI) data.
 Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-
United States (US) units like the euro, pound and yen held in the forex reserves.
 In the reporting week, gold reserves rose by $666 mn to $28.058 bn.
 The special drawing rights with the International Monetary Fund (IMF) were up by $7 mn to $1.447 bn.
 India’s reserve position with the IMF increased by $3 mn to $3.703 bn, the data showed
Govt raises authorised capital
 Indian Overseas Bank (IOB) on 10 Jan said the govt has increased its authorised capital by Rs 10,000 cr to Rs
25,000 cr.
 The Centre after consultation with the Reserve Bank of India (RBI) increased the authorised capital of the bank.
 Indian Overseas Bank is a major public sector bank based in Chennai, India, with about 3,400 domestic branches,
about 6 foreign branches and representative office.
RBI launches ‘MANI’ app
 The Reserve Bank of India (RBI) Governor Shaktikanta Das launched a mobile application called ‘Mobile Aided
Note Identifier’ (MANI) to aid visually challenged persons in identifying the denomination of currency notes.
 The application is free and can be downloaded from the Android Play Store and iOS App Store without any
charges or payment. This mobile application does not authenticate a note as being either genuine or counterfeit.
 Indian banknotes contain several features, which enable the visually impaired (colour blind, partially sighted and
blind people) to identify them, viz., intaglio printing and tactile mark, variable banknote size, large numerals,
variable colour, monochromatic hues and patterns.
ESAF bank files for IPO
 Kerala-based ESAF Small Finance Bank on 6 Jan filed draft red herring prospectus (DRHP) with SEBI for
Rs 976-cr IPO.
 According to the DRHP, the IPO comprises a fresh issue worth Rs 800 cr and an offer-for-sale aggregating up to
Rs 176.2 cr. The bank, in consultation with its book running lead managers (BRLMs) may consider a pre-IPO
placement of up to Rs 300 cr.
 If it is undertaken, the amount raised will be reduced from the fresh issue.
SEBI defers deadline
 In a big relief to the corporate sector, the Securities and Exchange Board of India (Sebi) has extended the
timeline for top 500 listed companies to comply with its new rule, which mandates a split in the post of chairman
and managing director of a company and also bars relatives from holding key jobs in a company, by two years to
Apr 2022. The regulator issued a notification on its website on Jan 10 extending the timeline.
 Sebi, in May 2018, asked the top 500 listed companies to split the post of chairman and managing director by Apr
2020, following the recommendations of the Uday Kotak-led panel on corporate governance.
NSE launches learning platform
 National Stock Exchange (NSE) on 6 Jan launched an AI-powered learning platform NSE Knowledge Hub in the
presence of Union Minister of Railways and Commerce and Industry Piyush Goyal.

 The NSE Knowledge Hub will curate the content for learners from many internal, external and premium sources
for the personalised learning experience.
Budget deficit widening
 India’s budget deficit could widen to 3.8% of gross domestic product in the current fiscal year, breaching a target
of 3.3%. The law allows the govt to exceed the target by as much as half a per centage point.
 The govt can also miss its target if it faces acts of war, a collapse in farm output, or the economy is undergoing
structural reforms with unanticipated fiscal implications.
India’s per-capita income rises
 The country’s per-capita monthly income is estimated to have risen by 6.8 per cent to Rs 11,254 during 2019-20,
Govt data on national income showed. In 2018-19, the monthly per-capita income had stood at Rs 10,534.
 The per-capita net national income during 2019-20 is estimated to be Rs 1,35,050 showing a rise of 6.8 per cent as
compared to Rs 1,26,406 during 2018-19 with the growth rate of 10.0 per cent, according to the annual national
income and GDP 2019-20 data released by the Ministry of Statistics and Programme Implementation (MoSPI).
 The per-capita income is a crude indicator of the prosperity of a country.
Amazon to invest $1 bn
 Amazon.com Inc chief Jeff Bezos on 15 Jan announced USD 1 bn (over Rs 7,000 cr) investment in India to help
bring small and medium businesses online and committed to exporting USD 10 bn worth of India-made goods by
2025. Before this, the online retail giant had committed USD 5.5 bn investments in India - Amazon’s most
important market outside of the US and a key growth driver.
SBI lowers GDP estimates
 The research desk of State Bank of India (SBI) has lowered its GDP growth forecast for FY20 to 4.6 per cent
from the earlier 5 per cent.
 The latest SBI Ecowrap report even predicted growth rate to remain below 6 per cent for the two years in a row.
 For FY20, the budgeted nominal GDP growth rate was 12 per cent which has now been revised downwards to 7.5
per cent.
GDP advance estimates
 Growth in agriculture and allied activities is expected to be a subdued 2.8 per cent in 2019-20 but farmers’ woes
are likely to lessen a bit, according to advance estimates from the statistics office.
 These activities are estimated as likely to rise by 9.8 per cent at current prices, indicating food inflation (used by
many as a proxy for farmers’ income) of seven per cent, the highest since 2014-15.
 In 2018-19, agriculture and allied activities grew 2.9 per cent at constant prices, while the sector rose 4 per cent at
current prices, delivering food inflation of only 1.1 per cent, lowest since the new gross domestic product series.
Shivalik Mercantile to convert to SFB
 The Reserve Bank of India (RBI) on 6 Jan granted in-principle approval to Uttar Pradesh-based Shivalik
Mercantile Co-operative Bank Ltd to convert to a small finance bank (SFB), becoming the first urban cooperative
bank (UCB) to make the transition since the guidelines came out nearly two years ago.
 The UCB will get 18 months to comply with the requirements under the scheme, which state that banks with a
minimum net worth of Rs 50 cr and capital to risk (weighted) assets ratio of 9% and above are eligible to apply
for voluntary transition to SFB.
Retail inflation at 5-year high
 Retail inflation soared to a five and a half year high of 7.35% in Dec 2019, with the shortage of onions driving
the surge. According to information released by the National Statistical Office (NSO) on 13 Jan, retail inflation
based on the Consumer Price Index (CPI) was only 2.11% in Dec 2018 and 5.54% in Nov 2019.
 The last time retail inflation was this high was the 7.39% recorded in Jul 2014.
 The Centre has mandated the RBI to keep inflation in the range of 2-6%.
Wholesale inflation rises
 India’s wholesale price-based inflation surged to a seven-month high of 2.59% in Dec 2019. In Nov, WPI-based
inflation was at 0.58%.

 Data released by commerce and industry department on 14 Jan showed that wholesale food inflation accelerated
to 13.24% in Dec from 11.08% in a month ago, led by a 456% jump in onion prices.
Factory output grows
 India’s factory output expanded in Nov after three months of contraction.
 According to the data released by the National Statistic Office, the Index of Industrial Production (IIP)
expanded 1.8 per cent in Nov over the same month in 2018.
 This recovery is expected to take some pressure off the govt and the Reserve Bank of India to provide a booster
dose in the upcoming Budget and the monetary policy review, respectively.
Service sector at 5-month high
 The services industry accelerated to a five-month high in Dec 2019, raising hopes of an economic recovery, a
private survey showed.
 The IHS Markit Services Purchasing Managers’ Index (PMI) rose to 53.3 in Dec from 52.7 in Nov. A reading
above 50-mark shows growth while one below it reflects contraction.
HDFC Life, Paytm ties up
 HDFC Life Insurance, one of India’s leading private life insurers has partnered with Paytm to enable customers of
Paytm to purchase insurance products from HDFC Life.
 HDFC Life has been doing strategic partnerships and tie-ups across industries to have a wider reach.
New GST collection target
 The Govt on 17 Jan increased the GST collection targets for Jan and Feb by Rs 10,000 cr. However, there is no
change for the Mar target.
 If higher revenues are realised, it would give some relief to Finance Minister Nirmala Sitharaman on the fiscal
deficit front.
GST revenue crosses Rs 1-lakh cr
 The gross GST (Goods and Services Tax) revenue collection for Dec 2019 has crossed Rs 1-lakh crore mark,
showing a 16 per cent rise in revenue YoY.
 It is for the ninth time since the inception of GST in Jul 2017 that monthly collection has crossed the mark of Rs 1
lakh cr.
 The GST collection for Dec stood at Rs 1.03 lakh cr, of which CGST (Central GST) amounts to Rs 19, 962 cr,
while SGST and IGST have been recorded at Rs 26,792 cr and 48,099 cr, respectively.
 Cess for the month stands at Rs 8,331 cr (including Rs 847 crore collected on imports).
Mastercard acquires RiskRecon
 American global financial services provider Mastercard has decided to take over RiskRecon which is one of the
leading providers of data analytics solutions and artificial intelligence focused on cyber-risk and security and
offering solutions to mitigate cyber risks faced by the companies.
 The rapid technological advancements have brought in pertinent threats of cyber frauds and data theft.
 The vulnerabilities can be exploited and can lead to serious data breaches, jeopardizing the customers’ trust.
Special OMO
 In a surprising move, the Reserve Bank of India (RBI) has decided to simultaneously go for purchase and sale of
govt securities under a special Open Market Operation (OMO) for Rs10,000 cr each on Dec 23, 2019.
 Usually, the central bank either conducts OMO sales (to suck out excess liquidity in the financial system) or
OMO purchase (to infuse liquidity) in a single day.
BoA opens GBC at GIFT City
 American multinational investment bank and financial services company, Bank of America, opened its Global
Business Service Centre in India’s first operational International Financial Services Centre (IFSC) situated at
Gujarat International Finance-tec City (GIFT City).
 Bank of America is the first foreign bank to set up operation in GIFT City situated on the outskirts of Gujarat’s
capital Gandhinagar. The bank has occupied nearly 1 lakh sqft space for its Global Business Service Centre.
 Initially around 500 people would work at the Global Business Service Centre at GIFT City and in the future
headcount would be increased up to 1500.
SBI to end certain cards
 State Bank of India (SBI) has asked its customers to update their magnetic stripes ATM-cum-debit cards to the
ones with EMV chips before 31 Dec 2019.
 As per RBI guidelines, SBI has replaced all Magnetic Stripe Cards of its customers with EMV Chip and PIN
based cards. The card replacement is free of cost, available online or at branch offices.
IMF’s aid to Ukraine
 Ukraine and the International Monetary Fund (IMF) have reached agreement on a new USD 5.5 bn
programme to boost the country's growth and economic reforms.
 The agreement, which still must be approved by the fund's management, was reached in a telephone call between
Ukrainian President Volodymyr Zelensky and IMF managing director Kristalina Georgieva.
RBI removes PSBs
 The Reserve Bank of India (RBI) on Nov 28 said it has excluded Vijaya Bank and Dena Bank from the second
schedule of the RBI Act, with effect from Apr 1, 2019.
 Vijaya Bank and Dena Bank have been excluded from the second schedule to the Reserve Bank of India Act,
1934 with effect from Apr 1, 2019, since they have ceased to carry on banking business with effect from Apr 1,
2019. The public sector lenders were merged into Bank of Baroda at the beginning of the current financial year
and, hence, ceased to operate as banking companies separately.
IR downgrades Yes Bank
 India Ratings and Research (Ind-Ra) has downgraded YES Bank Ltd’s long-term issuer rating to A from A
‘plus’ and its short-term issuer rating to A1 from A1 ‘plus’, and placed them on Rating Watch Negative (RWN).
 Delay in capital raising and uncertainty regarding the quantum, lower current account deposits, have been the
main reasons that triggered the downgrade. Yes Bank had initially planned to raise capital of over $1.2 bn in
FY20.
ADB issues $250 mn loan
 The Asian Development Bank (ADB) and the Govt of India on Dec 16, 2019 signed a USD 250 mn loan to
Energy Efficiency Services Limited (EESL) to expand energy efficiency investments in India that will benefit
agricultural, residential and institutional consumers.
 In addition to this, USD 46 mn financing will be provided from the Clean Technology Fund (CTF) that will be
administered by the ADB.
 The ADB previously approved a USD 200 mn loan to public sector company EESL in 2016 for demand side
energy efficiency sector project that focused on efficient lighting and appliances.
RBI raises lending limit
 The Reserve Bank of India (RBI) raised the lending limit of Peer-To-Peer (P2P) platforms five-fold.
 The apex bank said in a statement on developmental and regulatory policies issued on Dec 5, that the aggregate
exposure of a lender to all borrowers at any point of time, across all non-banking financial company peer-to-peer
platforms, will be capped at Rs 50 lakh, against Rs 10 lakh at present.
RBI adopts ‘Operation Twist’
 Google searches for “Operation Twist” surged in India after the central bank announced its version of the US
Federal Reserve’s unconventional monetary policy.
 Most searches for the term came from Maharashtra, the state that’s home to the financial hub Mumbai, and could
climb through the day.
 The benchmark 10-year yield plunged by the most in more than two months following the central bank’s
announcement. The Reserve Bank of India will buy longer-tenor bonds while selling shorter debt.
BoB underreports bad loans
 Govt-owned Bank of Baroda reported a Rs 5,250-cr divergence in the calculation of bad loans for the 2018-19
financial year.
 The Reserve Bank of India's (RBI's) assessment of its gross non-performing assets (NPAs) for the year is Rs
75,174 cr.

 Against this, the bank had reported GNPAs of Rs 69,924 cr. All figures are for the recently amalgamated entity,
wherein Vijaya Bank and Dena Bank were merged with BoB.
 The bank has said of this Rs 4,090 cr divergence, it had already made a provision of Rs 1,475 cr in the current
financial year.
NPCI sets up subsidiary
 The National Payments Corporation of India (NPCI) has setup a subsidiary to export the much acclaimed
Unified Payment Interface or UPI for govts and central banks interested in implementing similar instant fund
transfer in their countries, Reserve Bank of India governor Shaktikanta Das has said.
 The subsidiary, apart from taking the technology to foreign markets, will also look at various business
propositions exporting the payment solution will bring to the NPCI.
 The governor, citing Bank of International Settlement's (BIS) recently released paper which hailed India's
digital financial infrastructure, said that UPI is being "internationally watched."
BoB raises Rs 1,747cr
 Bank of Baroda has raised Rs 1,747 cr by issuing Basel III compliant bonds on a private placement basis.
 A total of 17,470 '8.99 per cent unsecured rated listed subordinated fully paid up additional tier I Basel III
compliant non-convertible perpetual taxable bonds, Series XI' were allotted to 18 allottees on Dec 18, 2019.
 To comply with Basel III capital regulations, banks need to improve and strengthen their capital planning
processes.
 Indian banking system has been implementing Basel III standards in phases since Apr 1, 2013 and is expected to
fully implement these norms by Mar 2020.
Partial credit guarantee scheme
 The Union Cabinet on 11 Dec gave its approval to the "Partial Credit Guarantee Scheme" that allows public
sector banks (PSBs) to purchase high-rated pooled assets from financially sound non-banking financial
companies (NBFCs) and housing finance companies (HFCs).
 The amount of overall guarantee has been limited to first loss of up to 10 per cent of fair value of assets being
purchased by the banks under the scheme, or Rs 10,000 cr, whichever is lower, as agreed by department of
economic affairs (DEA).
 The scheme would cover NBFCs and HFCs that may have slipped into SMA-0 category during the one year
period prior to Aug 1, 2018, and asset pools rated "BBB+" or higher.
BoB sells subsidiary
 Public sector lender Bank of Baroda on 12 Dec said it has signed a binding share purchase agreement (SPA)
with Ansa Merchant Bank Ltd for the sale of former’s subsidiary, Bank of Baroda (Trinidad & Tobago)
Limited (BOBTTL).
 This transaction, Bank of Baroda, is subject to approval from the host country regulator - Central Bank of
Trinidad & Tobago.
SBI under-reports bad loans
 Public sector lender State Bank of India (SBI) under-reported its non-performing assets for the fiscal year FY19, a
risk-assessment report of the Reserve Bank of India (RBI) has found.
 In a regulatory filing, the bank said it had under-reported its bad debts by Rs 11,932 cr.
 The divergence in gross non-performing assets (NPAs) assessed by the central bank for SBI was Rs 11,932 cr in
FY19. Also, the RBI found that SBI had made less provisions for its bad loans in FY19.
SBI reduces MCLR
 Country's largest lender State Bank of India (SBI) has announced the reduction in its marginal cost of fund
based lending rate (MCLR) by 10 basis points across all one-year products.
 It was effective from 10 Dec. This is the eighth consecutive cut in MCLR by the lender this fiscal.
 The new one-year MCLR has been cut to 7.90 per cent from 8 per cent.
RBI tightens norms for ARCs

 The Reserve Bank of India (RBI) on 6 Dec tightened norms for asset reconstruction companies (ARCs),
restricting them from buying financial assets from their sponsor firms and lenders on a bilateral basis. However,
the regulator has allowed the ARCs to participate in auctions of such assets.
Penalty on Corporation Bank
 The Reserve Bank of India (RBI) has, by an order dated Nov 29, 2019, imposed a monetary penalty of Rs 1.50 cr
on Corporation Bank for non-compliance with certain provisions of directions issued by.
 The penalty has been imposed in exercise of powers vested in the RBI under the provisions of Section 47 A (1)
(c) read with Section 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949.
UTI AMC files for IPO
 UTI Asset Management Company, India's biggest public sector mutual fund house, has filed draft red herring
prospectus with markets regulator SEBI to float an initial public offering. After Reliance Nippon Life Asset
Management and HDFC Asset Management, it would be the third entity from the mutual funds industry to go
public.
 The IPO will be entirely an offer for sale (OFS) by the institutional shareholders, led by State Bank of India
(SBI), Life Insurance Corporation (LIC), Bank of Baroda (BoB), and Punjab National Bank (PNB).
 These four state-owned banking and financial institutions hold 18.25 per cent each in the company, while the
remaining stake is held by US-based T Rowe Price International.
USFB’s brings IPO
 Ujjivan Small Finance Bank launched its initial public offer (IPO) on 2 Dec at a price band of Rs 36 to Rs 37
per share.
 The small finance bank had fixed the bid lot at 400 shares and equivalent multiples thereafter, and aimed to garner
approximately Rs 750 cr via the three-day issue (till Dec 4).
 Established in 2017, the Ujjivan Financial Services-controlled USFB offers small finance to underserved and
unserved segments in India.
 At the end of Sep 2019, the bank had a net interest income of Rs 740.4 cr, with a net profit at Rs 187.1 cr.
ABF lists commercial paper
 Non-bank lender Aditya Birla Finance on 28 Nov became the first company to list its commercial papers
borrowing of Rs 100 cr on the bourses.
 The Kumarmangalam Birla-led company listed its CPs on NSE with a value date of Nov 28, 2019 and maturity
date on Feb 7, 2020 on BSE and NSE.
 Trust in the system can only be restored with complete transparency. In Oct, the capital markets regulator
Securities and Exchange Board of India (Sebi) asked exchanges to put in place a necessary framework for
systems and procedures for listing of commercial papers.
Saudi Aramco raises $25.6 bn
 Saudi Aramco raised $25.6 bn from the world’s biggest initial public offering, closing a deal that became
synonymous with the kingdom’s controversial crown prince and his plans to reshape the oil-rich nation.
 The state-owned oil giant set the final price of its shares at 32 riyals ($8.53), valuing the world’s most profitable
company at $1.7 tn. It received total bids of $119 bn.
Bharti seeks FDI nod
 Bharti Telecom, a promoter of Bharti Airtel, sought govt nod for the infusion of Rs 4,900 cr investment from
Singapore-based Singtel and other foreign entities, a move that would make the country's oldest private telecom
operator a foreign entity.
 The fund infusion will enhance foreign stakeholding in Bharti Telecom to over 50 per cent that will make it a
foreign-owned entity.
CSB Bank brings IPO
 The initial public offering of CSB Bank was subscribed 4.35 times on the second day of bidding.
 The IPO of the Kerala-based company received bids for 5 cr shares against the total issue size of 1.15 cr shares.
 While qualified institutional buyers (QIBs) category was subscribed 26 per cent, non-institutional investors
segment was fully subscribed. Retail individual investors category was subscribed 21.53 times.
Sebi exempts govt
 Markets regulator Sebi on Nov 28 exempted the govt from making open offer to the shareholders of Canara
Bank following the proposed equity infusion that would hike its stake in the lender by 7.9 per cent.
 The directive comes after the bank filed an application in Nov on behalf of its promoter-- Govt of India -- seeking
exemption from the applicability of SAST (Substantial Acquisition of Shares and Takeovers) or Takeover
Regulations.
 The central govt has proposed to infuse capital worth Rs 6,571 cr in the lender against allotment of equity on
preferential basis in favour of it.
SBI Cards files for IPO
 SBI Cards and Payment Services, the second-largest credit card provider in India, has filed draft red herring
prospectus with capital market regulator Securities and Exchange Board of India (SEBI) on Nov 26.
 The issue consists of fresh issue of Rs 500 cr and an offer for sale of 13,05,26,798 equity shares by State Bank of
India and CA Rover Holdings, an affiliate of US-based Carlyle Asia Partners IV.
Fitch lowers India GDP growth
 Fitch Ratings cut its growth forecast for India to 4.6 per cent for the 2019-20 fiscal from the previous estimation
of 5.6 per cent after factoring in significant deceleration in past few quarters due to credit squeeze and
deterioration in business and consumer confidence.
 It reaffirmed India's rating at 'BBB-' with a Stable Outlook saying the rating balances a still strong medium-term
growth outlook compared with similar category peers and relative external resilience stemming from solid
foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors,
including governance indicators and GDP per capita.
New method for calculating GDP
 The govt is exploring a new methodology of calculating the gross domestic product (GDP) which will keep
updating weights assigned to various products and activities in the economy.
 The new methodology, called the chain base method, however does not change the base year by itself,
notwithstanding the impression given by its nomenclature.
 The base year changes when the govt decides to change it, say in five years.
 So, if the chain base index is applied to the current series for the year, say 2019-20, the base year will remain
2011-12.
Moody's cuts GDP growth forecast
 Moody's Investors Service on 13 Dec said it has lowered its 2019 GDP growth forecast for India to 5.6 per cent
as slow employment growth weighs on consumption.
 It expects economic growth to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent respectively, but sees the
pace of growth remaining lower than past.
ADB cuts India’s growth forecast
 Asian Development Bank (ADB) on 11 Dec lowered India’s economic growth forecast for FY2019 to 5.1 per
cent on slowing job prospects, rural distress exacerbated by poor harvest and credit crunch.
 The multilateral bank, however, expects the growth to pick up to 6.5 per cent next year on supportive govt
policies. The GDP growth forecast for South Asia for 2019 is also cut to 5.1 per cent from 6.2 per cent earlier and
to 6.1 per cent from 6.7 per cent next year (2020.
WPI tames to 0.58 per cent
 The Wholesale Price Index (WPI)-based inflation fell to 0.58 per cent in Nov 2019, down from 4.47 per cent in
Nov 2018.
 Sequentially, wholesale inflation reported an increase, rising from 0.16 per cent in Oct 2019, according to a
statement by the Ministry of Commerce and Industry.
Retail inflation shoots up
 Rising food prices pushed the retail inflation in Nov 2019 to over three-year high of 5.54 per cent, while the
industrial sector output shrank for third month in a row by 3.8 per cent in Oct, indicating deepening slowdown in
the economy, govt data showed on 12 Dec.
India's exports fall
 India’s exports declined for the fourth successive month in Nov 2019 and for the fifth time this fiscal year, amid
continuing weak global demand and depressed global crude oil.
 Exports fell 0.32 per cent in Nov, while imports declined by 12.71 per cent on a year-on-year basis, leaving a
trade deficit of $12.12 bn against $16.61 bn last year, showed data released by the ministry of commerce and
industry on 13 Dec.
RBI’s CCI dips in Nov
 The consumer confidence index (CCI) based on the current perception of the economic situation, employment,
price level and income weakened further in Nov 2019 vis-a-vis the year ago period, according to the Reserve
Bank of India’s Nov 2019 round of consumer confidence survey (CCS).
 The CCI reading, which also includes spending besides the above-mentioned variables, in the latest round of CCS
was at 85.7 vis-a-vis 89.4 per cent in Sep 2019 and 93.9 in Nov 2018.
Services PMI expands
 Showing recovery, the Purchasing Managers' Index (PMI) for services expanded to 52.7 in Nov as against 49.2
in Oct.
 This is first expansion after three months. PMI is calculated on the basis of responses from purchasing managers
in 400 companies. It is prepared by IHS Markit.
 Index below 50 shows contraction while above that means expansion.
Manufacturing PMI up in Nov
 The country’s manufacturing sector activity inched up in Nov, but the upturn remained subdued as growth rates
for new orders as well as production were modest.
 The IHS Markit India Manufacturing PMI rose to 51.2 in Nov from 50.6 in Oct, when it had fallen to a two-year
low, indicating only a slight improvement in the health of the sector.
Irdai okays debt ETFs
 Irdai on 11 Dec allowed insurance companies to invest in debt exchange traded funds (ETFs) of central public
sector enterprises (CPSEs).
 The instruments have been permitted as eligible class of investment, according to guidelines issued by the
insurance regulator.
GST mop-up crosses Rs 1 tn
 Goods and services tax (GST) collection recovered to a seven-month high in Nov, crossing the Rs 1-tn mark on
account of the festive season demand and anti-evasion measures by the govt.
 After two months of negative growth, the GST mop-up grew by 6 per cent in Nov over the corresponding period
of 2018 to Rs 1.03 tn, against Rs 95,380 bn in Oct, the data released by the Ministry of Finance showed.
 These figures are for Oct, collected in Nov.
 Amid concerns that the govt may fall short of tax collection target in a slowing economy, the Centre has set an
ambitious Rs 1.1 tn monthly GST target for the remaining four months of the current fiscal and asked taxmen to
step up efforts to achieve the goal.
NAA fines Nestle
 The goods and services tax (GST) profiteering watchdog imposed a penalty of Rs 90 cr on fast-moving
consumer goods giant Nestle for not passing on the benefit of rate reduction to consumers.
 The national anti-profiteering authority (NAA) noted that the methodology adopted by Nestle to pass on GST
rate-cut benefit was ‘illogical, arbitrary, and illegal, which has resulted in unfairness and inequality while passing
on the benefit of tax reduction’.
Uniform tax rate for lottery
 The Goods and Services Tax or GST Council has fixed a uniform tax rate of 28 per cent on both state-run and
private lottery. It also decided to rationalise the GST rate on woven and non-woven bags to 18 per cent.
 The decisions were taken at the 38th meeting of the Council, chaired by Finance Minister Nirmala Sitharaman in
New Delhi.
Nationwide Feedback Diwas
 Nationwide GST Stakeholder Feedback Diwas for new GST returns was observed on 7 Dec.
 The aim of organizing this event is to get an on-the-spot response to the new GST Returns to be introduced from
the 1 Apr 2020.
 Central Board of Indirect Taxes and Customs (CBIC) Chairman Pranab Kumar Das said, the focus was on
assessing the ease of compliance and uploading of these new returns.
RBI fines Bandhan Bank
 The Reserve Bank of India (RBI) on 29 Oct imposed a penalty of Rs 1 cr on Kolkata-based Bandhan Bank Ltd
for failing to meet its promoter holding norms.
 The bank was required to bring down the shareholding of its non-operative financial holding company in the bank
in excess of 40% of the total paid-up equity capital to 40% within three years from the date of commencement of
business of the bank.
 The deadline for doing this was Aug 2018.
Penalty on TMB
 The RBI has imposed a penalty of Rs 35 lakh on Tamilnad Mercantile Bank for violating norms on frauds
classification and notification.
 This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the
validity of any transaction or agreement entered into by the bank with its customers.
ADB to give loan
 The Manila-headquartered Asian Development Bank (ADB) on 4 Nov said it will provide a $451 mn (about Rs
3,200 cr) loan to strengthen power connectivity between the southern and northern parts of the Chennai-
Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.
 The total cost of the project is $653.5 mn, of which the govt will provide $202.5 mn.
 The estimated completion date is the end of 2024.
 The project will help promote economic development by delivering a more reliable and competitive power supply
for industry and services in the state, which will in turn spur jobs and improve livelihoods.
India Inc’s ECBs surge
 When it comes to borrowing external funds, there are no signs of corporate India facing any kind of slowdown.
India Inc’s debt fundraising through overseas loans touched $25 bn in the first half of the current fiscal year,
which is an all-time-high borrowing for a half-yearly period.
 According to Reserve Bank of India (RBI) data, India Inc raised External Commercial Borrowing
(ECBs)/Foreign Currency Convertible Bonds (FCCBs) worth $25.17 bn (both under the Approval and
Automatic routes) in the Apr-Sep period.
SBI’s report on GDP
 An SBI research report that was published on Nov 12 sharply cut the country’s GDP growth forecast to 5 per
cent for FY 2019-20 from the earlier projection of 6.1 per cent.
 The second quarter GDP growth rate is likely to slip to 4.2 per cent on account of low automobile sales,
deceleration in air traffic movements, flattening of core sector growth and declining investment in construction
and infrastructure, according to Ecowrap -- the report from the Economic Research Department of State Bank
of India (SBI).
BHIM UPI goes international
 A pilot demonstration of the Bharat Interface for Money (BHIM) Unified Payments Interface (UPI) QR-
based payments was initiated at the Singapore FinTech Festival 2019.
 Conducted through a live transaction at a merchant terminal on Nov 13, this is the payment system’s first
approach to the international market.
 The demo continued for the duration of the festival, which started on Nov 11 and ended on Nov 15.
 The project is being jointly developed by the National Payments Corporation of India (NPCI) and Network
for Electronic Transfers (NETS) of Singapore. It is targeted to go live by Feb 2020.
WB to support farmers

 The Govt of India, Govt of Odisha and the World Bank signed a US$165 mn loan agreement to support
smallholder farmers strengthen the resilience of their production systems as well as diversify and improve the
marketing of their produce, for increased income.
 The Odisha Integrated Irrigation Project for Climate Resilient Agriculture will be implemented in rural areas
vulnerable to droughts and largely dependent on rainfed agriculture.
UPI hits 1 bn transactions
 Transactions using India’s own domestic payments platform – Unified Payments Interface (UPI) – hit a
landmark of one bn in Oct, three years after its launch.
 The UPI also recently crossed 100 mn users, making it the fastest adoption of any payments system anywhere in
the world.
 Having achieved this double milestone, the National Payments Corporation of India (NPCI), which operates
the UPI platform, aims to take the network global by enabling acceptance of UPI in Singapore and the UAE.
AIIB to fund Indian projects
 Beijing-based Asian Infrastructure Investment Bank (AIIB) is evaluating loans worth over $2.2 bn for
funding power transmission and distribution projects in Assam, metro rail projects in Chennai, Mumbai and rural
water supply system in Karnataka, the multi-lateral lender’s vice-president and chief investment officer DJ
Pandian has said.
 AIIB has also started preliminary discussions with the Indian govt to fund electric vehicle charging stations in the
country along with the World Bank and the Asian Development Bank.
 Since starting operations in 2016, AIIB has invested $2.894 bn in 13 projects in India, including a $500-mn loan
approved last month to ease congestion in Mumbai- the country’s financial hub- and another $75 mn to Tata
Cleantech Capital Ltd for on-lending to renewable energy projects.
RBI circular on IFI
 The RBI’s recent circular could give a jolt to some of the large mutual fund (MF) houses in India. The RBI has
said that asset management companies (AMC) majority owned by foreign companies will fall under the
indirect foreign investment category.
 The RBI circular explicitly states that investment vehicles mean MFs that invest more than 50 per cent in equities
governed by SEBI regulations 1996 ― simply meaning, all listed stocks.
RBI enhances withdrawal limit
 The RBI enhanced the cash withdrawal from the scam-hit Punjab & Maharashtra Cooperative (PMC) Bank to
Rs 50,000 per account.
 This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an
administrator on Sep 23.
 The RBI also allowed the depositors of the bank to withdraw from the bank’s own ATMs within the prescribed
limit of Rs 50,000, which will further ease process of withdrawals.
Penalty on Mehsana UCB
 The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5 cr on Gujarat-based Mehsana Urban
Co-operative Bank for contravention of the directions issued by it on ‘Loans and Advances to Directors,
Relatives and Firms/Concerns in which they are Interested’, and non-compliance with the Master Directions on
‘Know Your Customer (KYC)’.
Fb launches ‘Facebook Pay’
 Facebook has launched a new payments system that will work across its app ecosystem -- Facebook, Messenger,
Instagram and WhatsApp.
 Appropriately named Facebook Pay, it is rolled out on Facebook and Messenger in the US for fundraisers, in-
game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and
businesses on Facebook Marketplace. Facebook Pay supports most major credit and debit cards as well as PayPal.
RBI increases income limits
 The RBI has increased the household income limits for borrowers of Non-Banking Financial Companies
(NBFCs) and microfinance institutions (MFIs) from 1 lakh to 1.25 lakh rupees.
 The move is aimed at strengthening credit to those at the bottom of the economic pyramid in rural areas.
 Similarly, the limit has been increased from 1.6 lakh for urban or semi-urban areas to 2 lakh rupees.
LoC to Ghana
 The Export-Import (Exim) Bank has provided a $30 mn line of credit to Ghana.
 The Exim Bank has entered into an agreement with Ghana for financing rehabilitation and up-gradation of potable
water system in Yendi, Ghana.
 Under the arrangement, financing of export of eligible goods, works and services from India would be allowed
subject to their being eligible for export under the Foreign Trade Policy of India and whose purchase may be
agreed to be financed by the Exim Bank.
RBI panel on CICs
 The Reserve Bank of India’s (RBI’s) working group set up to review the extant regulations on core investment
companies (CICs) has favoured restricting the number of layers of such entities within a group to two by 2021.
 Any CIC within a group shall not make investment through more than a total of two layers of CICs, including
itself. If the recommendation is implemented, it will cut down the room for leverage by companies.
 The RBI’s recent Financial Stability Reports had pointed to the central bank’s discomfort over the high level of
pledged shares by India Inc, and the risks arising out of the systemic inter-connectedness of various financial
players. Securities and Exchange Board of India (Sebi) guidelines on governance seek to avoid multiple
structures.
Q2 GDP growth to decline
 Economic think-tank, National Council of Applied Economic Research (NCAER), has said that India’s GDP
growth is likely to decline to 4.9 per cent in the second quarter of this fiscal due to sustained slowdown in
virtually all the sectors.
 India’s economy grew at 5 per cent in the first quarter of 2019-20 -- the slowest pace in over six years.
 For the full fiscal 2019-20, the Delhi-based organisation has pegged GDP growth at 4.9 per cent as against 6.8
per cent in 2018-19.
Moody’s cuts GDP forecast
 Moody’s Investors Service cut India’s economic growth forecast for current year to 5.6 per cent from 5.8 per cent
estimated earlier. It said that the GDP slowdown is lasting longer than previously expected.
 It expected economic activity to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent, respectively, but the
pace to remain lower than in the recent past.
GST collections below Rs 1-tn
 The Goods and services tax (GST) collection remained below Rs 1 tn for the third straight month in Oct.
 It was 5.3 per cent lower than in the corresponding period last year, the steepest fall in the first seven months of
the current financial year, indicated rising weakness in consumer demand.
 Collection stood at Rs 95,380 cr in Oct, slightly higher than the Rs 91,916 cr in the previous month, when it fell
to a 19-month low, the finance ministry data shows.
Real Estate Category II AIF
 In a bid to boost the ailing real estate sector, which is sitting on a large inventory of unsold and incomplete
projects, the Centre proposed to create a Category II Alternate Investment Fund (AIF) to provide last-mile
funding to the sector.
 The Centre plans to invest Rs 10,000 cr in the fund, while Rs 15,000 cr will be pooled from domestic institutions
such as LIC and other investors in a phased manner.
Alternate Investment Funds (AIFs): These are funds that pool capital from investors, primarily High-net-worth
individual (HNIs) and institutions, to invest in asset classes such as real estate, venture capital and private and public
equity. Over 300 such funds have been registered with SEBI since 2012 when the AIF guidelines were notified.
Categories of AIFs: Under SEBI guidelines, AIFs operate in three categories. Category I AIFs invest in start-up or early-
stage ventures, SMEs, infrastructure or other areas which the govt or regulators consider as economically desirable.
Category II AIF includes real estate funds, private equity funds, and funds for distressed assets. Such funds are prohibited
from raising debt except for meeting day-to-day requirements. Lastly, Category III AIFs are those investing with view to
make short-term returns and include hedge funds and PIPE funds.
The recent AIF Category II fund that was announced would pool funds from LIC, public sector banks such as SBI and
other foreign institutions to fund developers for completing stalled residential projects in the mid and affordable housing
segments. The fund will be managed by SBI Caps.
Three years of Demonetisation
 Prime Minister Narendra Modi on 8 Nov 2016 announced to the nation that Rs 500 and Rs 1,000 currency notes
— 86 per cent of all currency notes in circulation in value at that time — would cease to be legal tender.
 The stated objectives were unearthing black money, cracking down on counterfeit currency, and choking terror
financing.
 Unsurprisingly, there were strong reactions both in favour of and against the unprecedented move, which would
come to be known as ‘demonetisation’ or ‘note ban’.
 While some hailed it as a courageous step against impropriety that was hurting the economy, others saw the move
itself as disastrous for the economy.
 Three years later, we have enough data to analyse and gauge the impact of the note-ban exercise on various
important sectors of the economy. In 2017-18, the country’s unemployment rate stood at a 45-year-high of 6.1 per
cent, according to the National Sample Survey Office’s (NSSO’s) periodic labour force survey (PLFS).
 There is a massive spike in the number of “stop filers” post demonetization.
 In the year when the demonetisation was implemented, investment in the country’s factories contracted 10.3 per
cent over 2016-17, showing their worst performance since 2002-03.
 In most of the tier-II and tier-III towns, digital payments had doubled since demonetisation.
RuPay card in S Arabia
 India signed an agreement with Saudi Arabia to launch the RuPay card in the country, making it the third nation
in the West Asia to initiate India’s digital payment system which will benefit not only the 2.6 mn Indians in the
Gulf Kingdom but also Haj and Umrah pilgrims.
 The RuPay card is a first-of-its-kind Indian domestic Debit and Credit Card payment network, with acceptance at
ATMs, POS devices and e-commerce websites.
 It was launched in 2012 to fulfil the Reserve Bank of India’s vision to have a domestic, open and multilateral
system of payments.
 India has already launched the RuPay card in the UAE, Bahrain, Singapore and Bhutan.
NBFCs under IBC
 Debt-ridden Dewan Housing Finance Corp Ltd (DHFL) may be the first non-banking finance company
(NBFC) to be sent to the National Company Law Tribunal (NCLT) for insolvency proceedings.
 The ministry of corporate affairs on Nov 18 issued a notification allowing NBFCs with asset size of Rs 500 cr or
more can be sent to the NCLT for proceedings under Section 227 of the Insolvency and Bankruptcy Code
(IBC). DHFL owes over Rs 38,000 cr to banks alone and has over Rs 85,000 cr liabilities in total.
ADB, India sign pact
 The Asian Development Bank (ADB) and the Govt of India signed a USD 91 mn loan to modernize an irrigation
system in southern state of Karnataka.
 The loan would also help the state in preparing river basin management plans in the ‘Krishna River Basin’ that
will help improve irrigation water use efficiency and contribute to improving sustainable water security in
Karnataka. This will improve water availability to meet the rising demand from various users in the state.
Promoters pare stake
 Yes Bank informed the exchanges that Rana Kapoor and promoter entities Yes Capital and Morgan Credits
have sold their remaining 0.8 per cent stakes in the company.
 According to a stock exchange filing, the promoters sold 2.04 cr shares in the open market during Nov 13-14. The
promoter entities now hold 900 shares in Yes Bank.
Frauds in PSBs

 Public sector banks (PSBs) reported frauds of over Rs 95,700 cr in the first six months of the current financial
year.
 Finance Minister Nirmala Sitharaman said that according to the Reserve Bank of India (RBI), PSBs reported
5,743 incidents of fraud involving a total amount of Rs 95,760.49 cr from Apr 1 to Sep 30 (based on the date of
reporting).
Preferred mode for unaccounted cash
 The Rs 2,000 note seems to be the key tool for unaccounted income and assets. According to the latest Income
Tax data, little less than half of the unaccounted cash seized during this fiscal was in the denomination of the
maximum value. It was more than 60 per cent during the last two fiscals.
 As on Mar 31, 2019, 3,291 mn pieces of Rs 2,000 currency note was in circulation with a value of Rs 6,582 bn.
Aramco brings IPO
 Saudi Arabia put a value of up to $1.71 tn on energy giant Aramco in what could be the world’s biggest IPO, but
missed Crown Prince Mohammed bin Salman’s initial target of USD 2 tn.
 Aramco would sell 1.5 per cent of the company in a blockbuster initial public offering (IPO) worth $24-25.6
bn, scaling down Saudi Arabia’s initial plan to sell up to five per cent of the firm.
 The much-delayed offering, a cornerstone of Prince Mohammed’s ambitious plan to diversify the oil-reliant
economy, rivals the world’s biggest listing - the USD 25 bn float of Chinese retail giant Alibaba in 2014.
Industrial output shrinks
 Showing signs of sluggishness in the economy, India’s industrial production contracted 4.3 per cent in Sep, the
weakest performance in seven years, due to output decline in manufacturing, mining and electricity sectors.
 According to the Central Statistics Office (CSO) data, the 4.3 per cent contraction is the lowest in 2011-12
series of Index of Industrial Production (IIP), which was unveiled in May 2017.
Wholesale inflation eases
 Wholesale prices based inflation eased further to 0.16 per cent in Oct, as against 0.33 per cent in Sep.
 Govt data showed subdued prices of non-food articles and fall in prices of manufactured items. Annual inflation,
based on monthly wholesale price index (WPI), was at 5.54 per cent in Oct 2018.
Retail inflation jumps
 Retail inflation surged to 4.62 per cent in Oct 2019 mainly on account of higher food prices. According to govt
data released on 13 Nov, the inflation in the food basket spiked to 7.89 per cent in Oct 2019 as against 5.11 per
cent Sep. The inflation based on the Consumer Price Index (CPI) was 3.99 per cent in Sep and 3.38 per cent in
Oct 2018. The Reserve Bank mainly factors in the CPI-based inflation to arrive at its bi-monthly monetary policy.
The RBI has been asked to keep the retail inflation at around four per cent.
Services PMI contracts
 Activity in India’s dominant services industry contracted for a second consecutive month in Oct due to muted
demand, driving business optimism to a near-three year low. Although the Nikkei/IHS Markit Services
Purchasing Managers’ Index rose to 49.2 in Oct from 48.7 in Sep, it remained below the 50-mark threshold
indicating contraction on a monthly basis. The last time services activity contracted for two consecutive months
was in Aug 2017 following the hasty implementation of a Goods and Services Tax (GST).
Factory output contracts
 In a further signal of a persisting slowdown, factory output contracted by 4.3 per cent in Sep hitting a seven-year
low.
 Negative growth in all the three sectors of manufacturing, mining and electricity pulled down the Index of
Industrial Production (IIP), which had recorded 4.6 per cent growth in the same month in 2018.
 According to the Central Statistics Office (CSO) data, 4.3 per cent contraction is the deepest in the 2011-12 IIP
series, which was unveiled in May 2017. In Apr 2012, the IIP had declined by 0.7 per cent.
PFRDA cancels licence
 The registration of Reliance Capital Pension Fund under National Pension Scheme (NPS) has been cancelled
following a request by the company, pension fund regulator PFRDA said.

 Reliance Capital Pension is no longer available for subscription under NPS, according to Pension Fund
Regulatory and Development Authority (PFRDA).
Sabka Vishwas Scheme
 More than Rs 5,000 cr worth dues have been declared so far under the govt’s ‘Sabka Vishwas Scheme’, which is
for settling pending disputes of service tax and central excise.
 The Central Board of Indirect Taxes and Customs (CBIC) has asked its principal chief commissioners to be
more proactive in persuading eligible taxpayers to take benefit of ‘Sabka Vishwas Scheme’.
 Finance Minister Nirmala Sitharaman had unveiled the Sabka Vishwas (Legacy Dispute Resolution) Scheme,
2019 with the objective of settling pending disputes of Service Tax and Central Excise in the budget.
Moody’s downgrades outlook
 Global rating agency Moody’s has announced changing the outlook on India’s economy to ‘Negative’ from
‘Stable.’ However, it has affirmed the sovereign rating of ‘Baa2.’
 The change in outlook means that an upgrade in ratings in near future is unlikely.
 ‘Baa2’ is a notch above last investment grade. Outlook and rating are key considerations for foreign investors to
make investment in any country.
Fitch raises fiscal deficit forecast
 Fitch Solutions on 6 Nov raised India’s fiscal deficit forecast to 3.6 per cent of the GDP for this fiscal year, from
3.4 per cent previously, due to weak revenue collections resulting from sluggish economic growth and govt’s
sweeping corporate tax rate cut.
 The Central Govt on Sep 20, had announced that it would be slashing corporate income taxes for domestic
companies to 22 per cent from 30 per cent previously.
 This would bring effective corporate tax rate, including all additional levies, to about 25.2 per cent, for companies
which are not receiving any incentives or exemptions.
 New manufacturing companies formed after Oct 1, will enjoy a 15 per cent (effective rate of 17 per cent)
corporate income tax rate, versus 25 per cent previously.
 The move is estimated to result in Rs 1.45 lakh cr in revenue loss for the Govt during FY2019/20.
Exports shrink
 Lower receipts from processed petroleum exports and dragged down depressed global crude prices led to exports
in Oct contracting for a third straight month.
 The decline in exports stood at 1.1 per cent in Oct, lower than the 6.57 per cent fall in Sep.
 In the current financial year till Oct, cumulative exports stood at $186 bn, 2.2 per cent lower than the
corresponding period in the last financial year.
India exits RCEP
 Two years after the US President Donald Trump withdrew the US from a 12-nation deal known as the Trans-
Pacific Partnership (TPP), Prime Minister Narendra Modi has pulled India out of a proposed 16-nation grouping
led by China known as the Regional Comprehensive Economic Partnership (RCEP).
 In both cases, protectionism played a part.
 The RCEP began in 2012 as a routine harmonizing of agreements between members of the Association of
Southeast Asian Nations, or Asean and turned into a deal creating potentially the world’s biggest free trade bloc.
RBI imposes penalties
 The RBI imposed a monetary penalty on Lakshmi Vilas Bank and Syndicate Bank for violating asset
classification and fraud detection norms.
 The RBI has imposed a monetary penalty of Rs 1 cr on Lakshmi Vilas Bank and Rs 75 lakh on Syndicate Bank.
 The RBI has, by an order dated Oct 14, 2019, imposed monetary penalty on Lakshmi Vilas Bank for non-
compliance with certain provisions of directions issued by RBI on ‘Income Recognition and Asset Classification
(IRAC) norms.
ICICI Bank brings ‘FD Health’

 ICICI Bank has launched a new Fixed Deposit (FD) scheme - FD Health. The scheme offers FD with a health
benefit through a critical illness coverage. Customers will be offered a complimentary insurance cover of Rs 1
lakh.
 The FD Health scheme provides the customer a complimentary critical illness cover of Rs 1 lakh from ICICI
Lombard General Insurance Company on opening an FD of Rs 2 lakh to Rs 3 lakh for tenure of at least two years.
Fraud in PMC Bank
 After the economic offences wing (EOW) of the Mumbai police arrested Housing Development & Infrastructure
(HDIL) promoters Rakesh and Sarang Wadhawan, the department apprehended former Punjab and
Maharashtra Co-operative (PMC) Bank managing director Joy Thomas in connection with the alleged multi-
cr scam at the bank. Thomas is considered to be at the centre of the PMC Bank scam.
 He has already confessed that he misled the Reserve Bank of India (RBI) over the last five years and created over
21,000 dubious accounts to hide loans given to Mumbai-based realty firm HDIL with the help of some PMC Bank
officials. PMC Bank has given loans of Rs 6,500 cr, which accounts for 73 per cent of the bank’s loan book of Rs
8,880 cr.
India’s most valuable brand
 Largest private sector lender HDFC Bank has emerged as the most valued Indian brand at USD 22.70 bn. The
list of top ten brands, prepared by the world’s largest media buyer WPP, includes companies from banking,
financial services and insurance, telecom and auto segments.
‘On tap’ authorisation
 The RBI has issued guidelines on ‘on tap’ authorisation of payment systems, including minimum networth criteria
for different players, with an aim to encourage innovation and competition. In a circular, the RBI said it has been
decided to offer on-tap authorisation for Bharat Bill Payment Operating Unit (BBPOU), Trade Receivables
Discounting System (TReDS) and White Label ATMs (WLAs).
 For entities desirous to function, operate, or provide platforms for BBPOU, the RBI said they should have a Rs
100 cr net worth and should be maintained at all times. In case of TReDS, the minimum paid up equity capital
should be Rs 25 cr.
 The minimum net worth for entities desirous of entering the WLA segement should be Rs 100 cr.
 The Bharat Bill Payment System (BBPS) is an interoperable platform for repetitive bill payments, and currently
covers five segments -- direct-to-home (DTH), electricity, gas, telecom, and water bills.
Debit card EMI facility
 The country’s largest lender State Bank of India (SBI) has launched ‘Debit Card EMI facility’ for its existing
customers.
 While credit cards come handy in these times when you can pay the due amount at a later date or get it converted
into EMIs, even your SBI debit card transactions can be converted into monthly installments now.
The end of Libor
 On Jun 30, British bank NatWest announced that the bus operator National Express had become the first company
to take out a loan based on Sterling Overnight Index Average (SONIA), a replacement for scandal-hit interest
rate benchmark London Interbank Offered Rate (LIBOR).
UCO launches new products
 UCO Bank, which recently became the regional bank for the east, launched three new digital products in Kolkata
on 3 Oct. The new products launched by the bank’s managing director and CEO, AK Goel, were UCash,
Digilocker and an app.
 UCash enables customers to withdraw money from ATMs through mobile banking without using debit card.
Digilocker aims to eliminate the use of physical documents and enables sharing of verified electronic documents.
‘Team Cashless India’ initiative
 Mastercard, a technology company in the global payments industry, along with legendary cricketer Mahendra
Singh Dhoni launched a nationwide initiative to accelerate the acceptance and adoption of digital payments.
 Titled ‘Team Cashless India’, the initiative brings consumers and merchants to the forefront of the digital
payments dialogue.
IMF to double pool of money
 Finance Ministers agreed to double a key pool of money that the International Monetary Fund (IMF) can use
to aid distressed countries but again put off giving more votes to major emerging economies.
 The IMF’s governing body agreed to shore up the crisis lender’s resources to USD 500 bn.
 The IMF gets most of its resources through member quotas but in this case it will rely on the special fund, known
as the New Arrangements to Borrow (NAB) to ensure it has sufficient resources to ward off a new crisis.
 IMF Managing Director Kristalina Georgieva said, she welcomes this high-level endorsement, which
demonstrates the strong support of our membership for the fund’s mission.
India, ADB sign loan pact
 India and Asian Development Bank (ADB) have signed 190 mn dollar loan agreement for improving road
connectivity in Rajasthan.
 The pact has been signed to upgrade 754 kilometres of state highways which will benefit about 26 mn people in
14 districts of Rajasthan. For the benefit of commuters and pedestrians, particularly women and children, the
project provides for constructing more than 200 bus stops and 2 kilometer of raised sidewalk on project roads.
UBI cuts EBLR
 Union Bank of India (UBI) on 11 Oct reduced the External Benchmark Lending Rate (EBLR) by 25 basis
points (bps) to 8 per cent on the back of the recent 25 bps cut in the Repo Rate by the Reserve Bank of India.
 Thus, Interest rates on home loans and auto loans are now at 8.2 per cent and 8.6 per cent respectively for the
bank’s customers.
New reporting system
 The Reserve Bank of India (RBI) has introduced a new reporting system – the Central Information System for
Banking Infrastructure (CISBI) – for all co-operative banks.
RBI’s nod for Kerala Bank
 The Kerala govt’s long-pending dream of setting up its own bank, by merging district co-operative banks, is all
set to become a reality with the Reserve Bank of India (RBI) giving the final nod for the move.
 With its formation, the proposed ‘Kerala Bank’ will become the largest banking network in the state.
RBI rejects merger
 Lakshmi Vilas Bank, which is under the prompt corrective action (PCA) norms of the Reserve Bank of India,
would have received a boost if the proposed merger with Indiabulls Housing Finance would have gone through.
SBI opens office in Victoria
 The State Bank of India opened its Melbourne office recently, becoming the first Indian bank to have a branch in
the Australian state of Victoria.
 The Melbourne office will assist the growing trade and investment relations between Victoria and India and is the
outcome of the state’s 10-year India Strategy.
 According to official figures, the two-way merchandise trade between Victoria and India was to the tune of 1.76
bn Australian dollars in 2018.
RBI raises lending limit
 The Reserve Bank of India has raised the lending cap for microfinance institutions to Rs 1.25 lakh, against the
earlier limit of Rs 1 lakh, to improve credit availability in rural and semi-urban areas.
 It has also been decided to increase the household income limit for borrowers of non-banking financial
companies-micro finance institutions (NBFC-MFIs) from the current level of Rs 1 lakh for rural areas and Rs
1.60 lakh for urban/semi urban areas to Rs 1.25 lakh and Rs 2 lakh, respectively.
PCA against LVB
 The private sector bank Lakhsmi Vilas Bank (LVB) has been put under the banking regulator RBI’s watch due
to weak financials. The Reserve Bank of India (RBI) initiated Prompt Corrective Action (PCA) against LVB on
Sep 27 after an on-site inspection.
 The move was taken due to high non-performing assets (NPAs), insufficient capital adequacy levels, negative
Return on Assets (RoA) and high leverage.
India’s CAD narrows
 India’s current account deficit (CAD) narrowed to $14.3 bn, or 2 per cent of gross domestic product (GDP) in
the Jun quarter (Q1), from $15.8 bn, or 2.3 per cent a year ago.
 The CAD, which is the net of foreign exchange inflows and outflows, had stood at $4.6 bn, or 0.7 per cent, in Mar
quarter. The CAD eased on a year-on-year (y-o-y) basis, mainly on account of higher invisible receipts at $31.9
bn as compared with $29.9 bn a year ago.
Sebi tightens norms
 The Securities and Exchange Board of India (Sebi) has tightened the rules around resignations of auditors from
listed companies.
 The market regulator has said that an auditor will have to provide review — limited or complete audit report —
for the quarter during which it resigns. For instance, if the auditor decides to resign in Aug 2019, it will have to
issue the review for the quarter ended Sep 30, 2019.
IPO of IRCTC
 The initial public offer of the state-owned Indian Railway Catering and Tourism Corporation (IRCTC) was
fully subscribed on Oct 1, the second day of subscription.
 The Rs 645-cr initial public offering received bids for 6.55 cr equity shares against the IPO size of 2.016 cr
shares. The issue comprises an offer for sale of 2,01,60,000 shares and after stake sale, the govt's shareholding in
the company will be reduced to 87.40 per cent.
 Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees.
Nippon India Mutual Fund
 After the Rs 6,000-cr acquisition of Reliance Capital’s asset management arm, Japanese financial services major
Nippon Life will be focusing on regaining the lost market share it has had in the country with its JV with the Anil
Ambani group.
 Reliance Mutual Fund, which has been renamed as Nippon India Mutual Fund (NIMF) following the deal, used
to be the leader in assets under management till a few years ago, but has slipped to the fifth spot as institutional
investors pulled out their money with the troubled company.
Fourth edition of Bharat-22 ETF
 The Govt launched the fourth installment of the Bharat-22 Exchange Traded Fund (ETF) on 3 Oct, which is
expected to help the exchequer garner up to Rs 8,000 cr from investors. Bharat-22 ETF is managed by ICICI
Prudential Mutual Fund. The investors get a 3 per cent discount over the issue price.
 The Govt has so far raised around Rs 35,900 cr through Bharat-22 ETF -- Rs 14,500 cr was garnered in Nov
2017, another Rs 8,400 cr was mopped up in Jun 2018 and Rs 13,000 cr in Feb this year.
New disinvestment process
 The Cabinet has approved a new process of strategic disinvestment with a view to expediting privatisation of
select PSUs.
 The Union Cabinet headed by Prime Minister Narendra Modi approved the new policy under which the
Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance has been
made the nodal department for the strategic stake sale.
WPI inflation eases
 Wholesale prices based inflation eased to 0.33 per cent in Sep, as against 1.08 per cent in Aug due to fall in
prices of non-food articles, govt data showed on 14 Oct.
 The annual rate of inflation, based on monthly wholesale price index (WPI), was at 5.22 per cent in Sep 2018.
 The rate of price rise for the food articles was at 7.47 per cent during the month, while that for non-food articles
stood at 2.18 per cent.
Retail inflation spikes
 Retail inflation spiked to 3.99 per cent in Sep mainly due to higher prices of food items.
 The consumer price index (CPI) based inflation was registered at 3.28 per cent in Aug 2019.
 On a year-on-year basis, the inflation was 3.70 per cent in Sep last year.
IIP shrinks

 Industrial output crashed to an 81-month low in Aug, reducing by 1.1 per cent after a contraction in
manufacturing output and a deepening slowdown in capital goods production pulled down growth.
 Falling by the highest margin since Nov 2012, the index of industrial production (IIP) is now expected to
remain muted this fiscal year.
Sep exports decline
 Exports in Sep contracted for the third time in the first six months of the current fiscal year, with trade decline
plaguing all major foreign exchange (forex) earners such as processed crude oil, gems and jewellery, and
engineering goods. Outbound trade dropped 6.57 per cent in Sep, falling to a three-month low.
Deposit insurance in India
 Amidst calls for increasing the deposit insurance cover after the crisis at Punjab and Maharasthra Bank, official
data reveals that the cap was hiked more than two decades ago and this is in fact, the most extended break in the
revision of the cover. The deposit insurance cover was last hiked with effect from May 1, 1993 to Rs 1 lakh from
Rs 30,000 in Jul 1980.
 Before that, the revisions were faster --- Rs 20,000 cover from Jan 1976 and Rs 10,000 effective, Apr 1970.
 Before that, a cover of Rs 5,000 was provided, effective Jan 1, 1968.
 According to the annual report 2018-19 of the Deposit Insurance and Credit Guarantee Corporation
(DICGC), the insurance cover has been revised five times.
Mosquito Disease Protection Policy
 Airtel Payments Bank, India’s first Payments Bank, and HDFC ERGO General Insurance Company, India’s
leading private sector general insurance company, under the corporate agency tie-up launched an innovative
Mosquito Diseases Protection Policy (MDPP) as a part of their objective to drive insurance adoption in the
country through affordable and easily accessible products.
 Mosquito Disease Protection Policy offers cover against seven common mosquito-borne diseases - Dengue,
Malaria, Chikungunya, Japanese.
GST collection declines in Sep
 The total gross GST revenue collected in the month of Sep 2019 is Rs 91916 cr.
 The revenue during Sep 2019 has declined by 2.67% in comparison to the revenue during Sep 2018.
 During Apr-Sep 2019 vis-vis 2018, the domestic component has grown by 7.82% while the GST on imports has
shown negative growth and the total collection has grown by 4.90%.
No. of crpati taxpayers up
 A year after demonetisation, nearly one lakh individuals have reported an income of Rs 1 cr or more in their
Income Tax Returns.
 This is 20 per cent more than the number of crpatis who filed returns in the previous year, according to official
data released on 11 Oct. During the same period, the number of persons who paid an income tax of Rs 1 cr or
more also went up by 20 per cent.
OECD proposes tax plan
 The Organisation of Economic Co-operation and Development (OECD) has proposed an overhaul in the
taxation system for multinational companies.
 This move could force entities, including digital giants Google, Netflix, Facebook, and Amazon, to shell out taxes
in countries where they do not have physical presence.
 The consultation paper floated by the 36-member bloc will also affect India’s right to tax these companies.
Panel to augment GST revenue
 The govt has constituted a committee of officers to suggest measures to augment GST revenue collections and
administration.
 The committee should consider a wide range of reforms so that a comprehensive list of suggestions may emerge.
No MAT lower tax payers
 The Finance Ministry on 2 Oct made it clear that companies opting for a lower tax of 22 per cent will not be
eligible for accumulated additional depreciation and Minimum Alternative Tax (MAT) credit.

 On Sep 20, Finance Minister Nirmala Sitharaman had announced the lowering of the maximum corporate tax
rate to 22 per cent from the earlier 30 per cent. An ordinance was promulgated to make this cut effective from the
current financial year (assessment year 2020-21).
CBDT launches DIN
 The Documentation Identification Number (DIN) system of Central Board of Direct Taxes (CBDT) has
come into existence from 1 Oct with the generation of about 17,500 communications with DIN on the very first
day. The DIN system would ensure greater accountability and transparency in tax administration.
 CBDT has specified that any communication issued manually under exceptional circumstances would have to be
uploaded and regularised on the system portal within 15 days of its issuance.
Govt’s liabilities increase
 The Ministry of Finance on 27 Sep said the govt’s total liabilities increased to Rs 88.18-lakh cr at the end of Jun
quarter, up from Rs 84.6-lakh cr in the corresponding quarter last year.
 The Centre’s public debt was 89.4 per cent of the total outstanding liabilities. “The govt’s public debt accounted
for 89.4 per cent of the total outstanding liabilities at end- Jun 2019.
 The statement said the centre had issued “dated securities” worth over Rs 2.2-lakh cr in Q1 of FY20 against Rs
1.4-lakh cr in Q1 of FY19.
Consumer confidence drops
 Consumer confidence dipped to six-year low in Sep as sentiment around employment, income and discretionary
spending declined, according to Reserve Bank of India (RBI)’s Consumer Confidence Survey (CCS).
 Consumer confidence weakened in Sep with both the current situation index (CSI) and the future expectations
index (FEI) recording declines.
 The CCI fell to 89.4 in Sep from 95.7 recorded in the Jul round of survey while FEI fell to 118 from 124.8
recorded in Jul.
Mega PSB merger
Finance minister Nirmala Sitharaman announced a big consolidation of public sector banks (PSBs) in which 10 public
sector banks are to be merged into four.
Highlights
 Indian Bank will be merged with Allahabad Bank (anchor bank - Indian Bank). Consolidated Indian Bank and
Allahabad Bank to be seventh largest PSB with Rs 8.08 lakh cr business
 Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and United Bank to be merged (PNB will be
the anchor bank). The merger of PNB, OBC and United Bank with business of Rs 7.95 tn to make India’s
second-largest PSB.
 Union Bank of India, Andhra Bank and Corporation Bank to be merged (anchor bank - Union Bank of India).
Consolidated Union Bank of India, Andhra Bank and Corporation Bank to be fifth largest PSB with Rs 14.6 lakh
cr business
 Canara Bank and Syndicate Bank to be merged (anchor bank - Canara Bank). Consolidated Canara Bank and
Syndicate Bank to be fourth largest public sector PSB with Rs 15.2 lakh cr business
 In place of 27 public sector banks in 2017, now there will be 12 public sector banks after the latest round of
consolidation of PSU banks.
 The govt also announced capital infusion of over Rs 55,000 cr (out of Rs 70,000 cr budgeted for 2019-20): PNB
(Rs 16,000 cr), Union Bank of India (Rs 11,700 cr), Bank of Baroda (Rs 7000 cr), Indian Bank (Rs 2500 cr),
Indian Overseas Bank (Rs 3800 cr), Central Bank (Rs 3300 cr), UCO Bank (Rs 2100 cr), United Bank (Rs 1,600
cr) and Punjab and Sind Bank (Rs 750 cr). The plan for infusing the remaining Rs 15,000 cr into PSBs will be
announced later.
 In 2018, the govt had approved the merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB) that
become effective from Apr 1, 2019. In 2017, the State Bank of India absorbed five of its associates and the
Bharatiya Mahila Bank.

PSU Banks Merger
Acquirer Banks Banks to be Merged
Punjab National Bank(PNB) Oriental Bank of Commerce and United Bank of India
Indian Bank Allahabad Bank
Canara Bank Syndicate Bank
Union Bank of India Andhra Bank and Corporation Bank
Govt lowers interest rates
 The small savings such as National Saving Certificates (NSC) and Public Provident Fund (PPF) will give you
lower returns between Jul 1 and Sep 30 as the Centre has decided to lower the interest rate on these schemes by 10
basis points (100 bps = 1 per centage point).
Highlights
 Five-year recurring deposit – 7.2 per cent
 Five-year Senior Citizen Savings Scheme – 8.6 per cent
 Five-year National Savings Certificate – 7.9 per cent
 Public Provident Fund Scheme – 7.9 per cent
 Kisan Vikas Patra – 7.6 per cent (will mature in 113 months)
 Sukanya Samriddhi Account scheme – 8.4 per cent
Based on the recommendations of the Shyamala Gopinath panel, interest rates on these schemes are reviewed before the
end of every quarter and accordingly new rates are announced for the next quarter.
50 years bank nationalization
 Jul 19 marks a milestone in Indian banking history.
 This day half-a-century ago, the then Congress govt headed by Indira Gandhi took a decision to nationalise 14
major scheduled commercial banks with deposits of over Rs 50 cr by promulgating the Banking Companies
(Acquisition and Transfer of Undertakings) Ordinance, 1969.
 Its objective then was to break the vice-like grip of leaders of commerce and industry on commercial banking,
which was seen to erode the capital base of banks.
 The 14 banks were - Central Bank of India, Bank of Maharashtra, Dena Bank, Punjab National Bank,
Syndicate Bank, Canara Bank, Indian Overseas Bank, Indian Bank, Bank of Baroda, Union Bank,
Allahabad Bank, United Bank of India, UCO Bank and Bank of India.
 Later, six banks — Andhra Bank, Corporation Bank, New Bank of India, Oriental Bank of Commerce, Punjab and
Sind Bank and Vijaya Bank — with deposit liabilities of Rs 200 cr and above were nationalised in Apr 1980.
 With the nationalisation of these six banks, the number of public sector banks (PSBs), including State Bank of
India and its associate banks, rose to 28 in Apr 1980.
 Despite the opening up of the sector to private entities in the early 1990s, PSBs remain formidable players.
 This is underscored by the fact that their market share in overall bank credit and overall bank deposits was at 63.2
per cent and 66.9 per cent respectively at the end of FY18.
 With a three-way merger and LIC’s 51 per cent stake buy in IDBI Bank, the number of PSBs has come down to
18. At present, there were 22 private sector banks, 10 small finance banks and seven payments banks in the
country.

GDP
GDP Growth Rate of India
Organization 2019-20 2020-21
RBI 5.0 per cent 6.0 per cent
Economic Survey 5 per cent 6 – 6.5 per cent
IMF 4.8 per cent 5.8 per cent
World Bank 5 per cent 5 per cent
UN 5.7 per cent 6.6 per cent
ADB 5.1 per cent 7.2 per cent
UNCTAD 6.0 per cent
OECD 5.9 per cent 6.3 per cent
CSO 5 per cent
Crisil 5.1 per cent
Fitch 4.6 per cent 5.6
SBI Group 4.6 per cent 4.6 per cent
FICCI 5 per cent 5.5 per cent
Advance Estimates by MoSPI 5 per cent
OECD 5.8 per cent 6.2 per cent
IMF lowers growth forecast

 The International Monetary Fund (IMF) on 20 Jan lowered India’s economic growth forecast to 4.8 per cent for
the current financial year (FY20), while also cutting the world growth estimate and blamed the slowdown in India
for it.
 The IMF projection, 1.3 percentage point lower than its earlier estimates, is less than the five per cent projected
by the official advance estimates.
 The forecast by the IMF broadly confirms what economists have been saying — that advance estimates have
over-calculated India’s growth figures for 2019-20.
GDP growth at 11-year low
 The Central Statistics Office (CSO) has projected the economy’s growth rate for 2019-20 at 5 per cent, the
lowest in the current series with 2011-12 as the base year. This projection is a 11-year low.
 This first advance estimate is much lower than the 7 per cent growth rate projected in the Economic Survey as
also the average forecast of 5.5 per cent by major agencies, but on a par with RBI’s latest estimate of 5 per cent.
 The govt estimated that the gross value added (GVA) — a more realistic guide to measure changes in the
aggregate value of goods and services produced — will grow at 4.9 per cent in 2019-20.
 All the three sectors of the economy — agriculture, industry and services — are projected to grow at a lower rate
than the previous year. However, industry is the worst hit, with the growth rate at just a third of the previous year.
Fitch cuts growth forecast
 Fitch lowered India’s growth forecast to 6.6 per cent for the current fiscal from 6.8 per cent projected earlier, as
manufacturing and agriculture sectors showed signs of slowing down over the past year.
 In its latest Global Economic Outlook, the global rating agency retained its GDP growth forecast for the next
fiscal (2020-21) at 7.1 per cent and 7.0 per cent for 2021-22.
GDP to slow down to 6.8 per cent
 DBS Bank has revised India’s GDP growth for fiscal year 2020 downwards to 6.8 per cent year-on-year (YoY)
from 7 per cent projected earlier, citing headwinds for exports amidst challenging trade outlook.

 A negative output gap will keep demand-side inflationary risks in check, with core inflation catching down with
headline consumer price inflation (core at 4.2 per cent in May versus 6 per cent average in Oct-Dec 2018).
FICCI forecasts GDP growth
 The country's median GDP is forecast at 7.1 per cent for FY20 and 7.2 per cent for FY 21.
 The industry body FICCI's economic outlook survey said that the minimum and maximum growth estimate stood
at 6.8 per cent and 7.3 per cent, for 2019-20.
 The survey was conducted in May 2019 among economists belonging to the industry, banking and financial
services sectors. India's GDP likely grew 6.5 per cent in the fourth quarter ended Mar 2019.
India’s economy to grow 7.5%
 India's economic growth will regain strength and approach 7.5% by 2020 buoyed by rural consumption and
subdued inflation, the Organisation for Economic Co-operation and Development (OECD) said in its
Economic Outlook.
 This growth will come from higher domestic demand due to improved financial conditions, fiscal and quasi-fiscal
stimulus, including new income support measures for rural farmers, and recent structural reforms.
Moody’s cuts growth forecast
 International rating agency Moody’s on 10 Oct announced the lowering of India’s Gross Domestic Products
(GDP) growth to 5.8 per cent.
 This is lowest projection after the Reserve Bank of India cut the GDP growth to 6.1 per cent.
 It forecasted real GDP growth to decline to 5.8 per cent, in the fiscal year ending in Mar 2020, from 6.8 per cent
in fiscal 2018, and to pick up to 6.6 per cent in fiscal 2020, and around 7.0 per cent over the medium term.
Ind-Ra cuts GDP forecast
 India Ratings and Research (Ind-Ra), a part of Fitch group, on 10 Oct lowered India’s gross domestic product
(GDP) forecast for the financial year 2019-20 to 6.1%.
 This was the second downgrade in the last two months. Earlier in Aug 2019, the rating agency had revised GDP
growth estimate to 6.7% from its earlier forecast of 7.3%.
 Ind-Ra said it expects the GDP growth in the first half of the financial year 2019-20 to be 5.2% and forecasts it to
recover to 6.9% in 2HFY20, mainly on account of the base effect.
National News
NDRF celebrates raising day
 The National Disaster Response Force (NDRF) celebrated its 15th Raising Day on 18 Jan.
 The Union Minister of State for Home Affairs, Nityanand Rai was the chief guest on this occasion.
 The force has earned good name and fame nationally and internationally with its selfless service and unmatched
professionalism in disaster management.
 Since its inception in 2006, NDRF has saved more than One lakh lives in its 3100 operations and
rescued/evacuated over 6.7 lakh people during disasters.
Campaign on fuel conservation
 The Govt called for putting earnest efforts for petroleum conservation to bring down the huge import burden for
energy requirements.
 The fuel conservation mega campaign - Saksham of Petroleum Conservation Research Association (PCRA) was
launched in New Delhi for the purpose.
 India’s share of primary energy demand is set to double to 11 per cent by 2040 and to address this huge demand,
not only petroleum conservation but creation of sustainable development model will be a pivotal step. It will help
in progressively reduction of carbon footprint and lead to fulfilling govt’s commitment for greener environment.
Digital preservation of heritage
 The first-ever International Heritage Symposium and Exhibition (IHSE) was inaugurated by Union Minister
of Culture and Tourism Prahlad Singh Patel at the National Museum, Janpath on Jan 15.
 Jointly sponsored by the Department of Science and Technology (DST) and Karnataka State Council for Science
and Technology (KSCST), the event was organised by the Indian Institute of Technology (IIT), Delhi.
 It was a rare public showcase of digital preservation work undertaken in India using cutting edge AR, VR, MR
and AI technologies.
 The exhibition also showcases 3D fabricated models of five Indian monuments, including Kashi Vishwanath, Taj
Mahal, Sun Temple Konark, with interactive virtual walk-throughs and projection mapping, and a room-scale 3D
model of a Hampi Temple, with AR, VR and Holographic interactions.
Census India from 1 Apr
 Census India-2021 will begin on 1 Apr 2020 and will end on 30 Sep. Census India-2021 will be conducted
through a mobile phone application, moving away from the traditional pen and paper.
IP based video surveillance
 In order to enhance security at Railway stations which are major hubs of transportation, Indian Railways is in the
process of installing Internet Protocol (IP) based Video Surveillance System (VSS) at stations, that is, waiting
halls, reservation counters, parking areas, main entrance/ exit, platforms, foot over bridges, booking offices etc.
 Railway Board has approved works for provision of Video Surveillance System covering 983 stations over Indian
Railways under Nirbhaya funds.
 This year a budget of Rs 250 cr was allotted to Indian Railways from Nirbhaya fund for installation of video
surveillance system.
APNA UREA – SonaUgle brand
 Chemicals and Fertilizers Minister DV Sadananda Gowda on 17 Jan launched the APNA UREA - Sona Ugle
brand of Hindustan Urvarak and Rasayan Limited (HURL) in New Delhi.
 HURL is Joint Venture Company promoted by the three Maha Ratna Companies - Coal India Limited, NTPC
Limited and Indian Oil Corporation Limited.
Paperless licensing process
 In line with the vision of Prime Minister, Narendra Modi’s Digital India and Ease of Doing Business, the
Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has
launched paperless licensing process through Petroleum and Explosives Safety Organisation (PESO) for road
tankers for transportation of petroleum under the Petroleum Rules, 2002.
 Moving towards digitisation, the process will include filing the applications online.
Govt launches NCCR portal
 Union Home Minister Amit Shah on 10 Jan inaugurated the Indian Cyber Crime Coordination Centre (I4C)
and also the dedicated National Cyber Crime Reporting Portal to the nation, a citizen-centric initiative that will
enable citizens to report cybercrimes online. This state-of-the-art Centre is located in New Delhi.
 The scheme to set up I4C was approved in Oct 2018 at an estimated cost of Rs 415.86 cr to deal with all types of
cybercrimes in a comprehensive and coordinated manner.
Railway Protection Force renamed as Indian Railway Protection Force Service
 The Ministry of Railway has accorded Organised Group ‘A’ status to Railway Protection Force (RPF) and
renamed it Indian Railway Protection Force Service.
 RPF will be known as Indian Railway Protection Force Service.
State Energy Efficiency Index
 Union Govt on 10 Jan released the State Energy Efficiency Index 2019, which tracks the progress of Energy
Efficiency initiatives in 36 States and Union Territories.
 Power Minister RK Singh released the index in New Delhi.
 The index is developed by Bureau of Energy Efficiency (BEE) in association with Alliance for an Energy
Efficient Economy. Haryana, Karnataka, and Kerala have topped the State Energy Efficiency Index 2019.
Five years of UJALA scheme
 Launched by Hon’ble Prime Minister Narendra Modi on Jan 5th, 2015, the Govt of India’s zero subsidy Unnat
Jyoti by Affordable LEDs for All (UJALA) and LED Street Lighting National Programme (SLNP), marked its
fifth anniversary on 5 Jan. SLNP is the world’s largest streetlight replacement programme and UJALA is the
world’s largest domestic lighting project.
 Both have been spearheaded and implemented by Energy Efficiency Services Limited (EESL), a joint venture
of PSUs under the Ministry of Power, Govt of India.
Documents developed by UGC
 Human Resource Development Minister Ramesh Pokhriyal Nishank launched the five documents developed by
University Grants Commission (UGC), covering the five verticals of Quality Mandate in New Delhi on 26 Dec.
 These five documents cover evaluation reforms, eco-friendly and sustainable university campuses, human values
and professional ethics, faculty induction and academic research integrity.
Atal Bhujal Yojana
 In a befitting tribute to the visionary former Prime Minister on his birth anniversary, Prime Minister Narendra
Modi brought to life Atal Bihari Vajpayee’s vision to ensure water for all.
 He launched the Atal Bhujal Yojana. The scheme with a total outlay of Rs.6000 cr will be implemented over a
period of five years.
 It aims to improve ground water management through community participation in identified priority areas in
seven states.
 The states identified are Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Uttar
Pradesh. Implementation of the scheme is expected to benefit nearly 8350 Gram Panchayats in 78 districts in
these States.
CAA comes into effect
 The Centre on 10 Jan announced that the Citizenship (Amendment) Act will come into force from Jan 10.
 In a gazette notification, the Union home ministry said the Act under which non-Muslim refugees from Pakistan,
Bangladesh and Afghanistan will be given Indian citizenship, will come into force from Jan 10. The CAA was
passed by Parliament on Dec 11.
 According to the CAA, members of Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities who have come
from Pakistan, Bangladesh and Afghanistan till Dec 31, 2014 facing religious persecution there will not be treated
as illegal immigrants but given Indian citizenship.
SC accepts Centre's proposal
 The Supreme Court on 20 Jan accepted the proposal of the Centre to take over the management control of
embattled realty firm Unitech Limited.
 A bench headed by Justice DY Chandrachud gave two months to the new board of Unitech to prepare the
resolution framework of the company and sought its report.
Investments in energy sector
 An in depth review of India’s Energy Policies report by International Energy Agency (IEA) was launched in
New Delhi on 10 Jan. India is now the third largest energy consumer in the world. India is in the midst of a major
transformative shift in its energy sector.
 The energy polices already put in place by the Govt and also those on the anvil, clearly demonstrate our
determination to embrace this energy transition in a sustainable and responsible manner.
GoM for revival of BSNL, MTN
 A seven-member Group of Ministers (GoM) has been constituted to fast-track and oversee the implementation of
the Rs 69,000 cr revival plan for state-owned telecom corporations BSNL and MTNL.
 The high-level group will expedite smooth implementation of recent decisions taken on the revival of BSNL and
MTNL that includes crucial elements like allocation of 4G spectrum and asset monetisation.
Hyundai, Uber come together
 South Korean car manufacturer Hyundai and US ride-hailing firm Uber announced an agreement to collaborate on
the development of air taxis at Consumer Electronics Show (CES) 2020.
Adani acquires Krishnapatnam Port
 Adani Ports and Special Economic Zone (APSEZ), one of the country’s largest private port operators announced
acquisition of 75 per cent stake in Andhra Pradesh-based Krishnapatnam Port Company for an enterprise value
of Rs 13,572 cr.
Him Darshan Express
 Indian Railways on 25 Dec unveiled Him Darshan Express, comprising all-new Vistadome coaches, from
Kalka railway station to Shimla.
 This special train will commute between the Kalka and Shimla station for the next one year till Dec 24, 2020.
Core sector contracts
 Core sector growth disappointed once again, registering a contraction of 5.8 per cent in Oct 2019.
 This is the second consecutive month of contraction with the Sep 2019 print coming at (-) 5.1 per cent.
 In Oct last year, the core sector had registered 4.8 per cent growth.
 The eight infrastructure industries, including coal, crude oil, natural gas, refinery products, fertilisers, steel,
cement and electricity, account for 40.27 per cent of the weight of items included in the Index of Industrial
Production (IIP).
Govt increases authorised capital of FCI
 The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved
to increase the authorized capital of Food Corporation of India (FCI) from the existing Rs 3,500 cr to Rs 10,000
cr.
Present IUC rate till 2020
 Telecom Regulatory Authority of India (TRAI) on 17 Dec said Interconnection Usage Charges (IUC) of 6
paise per minute on mobile calls will continue till Dec 31, 2020.
 From Jan 1, 2021 onwards, the termination charge for wireless to wireless domestic calls shall be zero.
 Domestic termination charges are the wholesale charges payable by a telecom service provider (TSP) whose
subscriber originates the call to the TSP in whose network the call terminates.
FASTags comes into effect
 From Dec 16, lanes on national highway toll plazas across India started accept toll only through FASTag — fitted
in a vehicle that pays toll automatically when the vehicle crosses the boom barrier of the toll plaza. (One hybrid
lane will continue to accept cash in addition to being tag-enabled.)
 All new vehicles bought over the last few years, in fact, already come with FASTag pre-installed.
 The FASTag device employs Radio Frequency Identification (RFID) technology for payments directly from
the prepaid or savings account linked to it.
 It is affixed on the windscreen, so the vehicle can drive through plazas without stopping. RFID technology is
similar to that used in transport access-control systems, like Metro smart card.
 If the tag is linked to a prepaid account like a wallet, or a debit/credit card, then owners need to recharge/top up
the tag.
 If it is linked to a savings account, then money will get deducted automatically after the balance goes below a pre-
defined threshold. Once a vehicle crosses the toll, the owner will get an SMS alert on the deduction. In that it is
like a prepaid e-wallet.
 A FASTag is valid for five years, and can be recharged as and when required.
 E-commerce portals like Amazon and PayTM sell these tags issued by various banks.
 They are available at 27,000 points of sale set up by 22 banks (see box) and the NHAI.
 At NHAI counters, mostly at toll plazas, the tag is free until Dec 1.
 Places where these counters are set up include Road Transport Authority offices, transport hubs, bank branches,
and selected petrol pumps.
 A FASTag bought from NHAI comes with a one-time fee of Rs 100 besides a refundable security deposit of Rs
150.
Fourth round of UDAN

 Following the three successful rounds of bidding, the Ministry of Civil Aviation has launched the 4th round of
Regional Connectivity Scheme (RCS)- Ude Desh Ka Aam Nagrik (UDAN) to further enhance the
connectivity to remote and regional areas of the country.
 Focus of this round would be the priority areas like NER, Hilly States, J&K, Ladakh and Islands.
Fiat Chrysler, PSA merge
 PSA Group and Fiat Chrysler Automobiles NV agreed to combine in a deal that will create the world’s fourth-
biggest auto manufacturer.
 The French and Italo-American carmakers signed a binding accord for a 50-50 merger of their businesses.
 The combined company will be led by PSA Chief Executive Officer Carlos Tavares, with Fiat Chairman John
Elkann holding the same role at the enlarged firm.
 The merger would forge a regional powerhouse to rival Germany’s Volkswagen AG and have a stock-market
value of about $47 bn.
RIL’s m-cap touches Rs 10 lakh cr
 Reliance Industries (RIL), on 28 Nov, became the first Indian company to hit the Rs 10 lakh cr market valuation
level in intra-day following a spike in its share price.
 The oil-to-telecom conglomerate’s market capitalisation (m-cap) zoomed to Rs 10.02 lakh cr during morning
trade on the BSE.
ArcelorMittal Forms JV
 ArcelorMittal SA had formed a joint venture with Nippon Steel Corp to run Essar Steel, the bankrupt steel
company that ArcelorMittal has taken over.
 In Nov, Supreme Court had cleared the way for ArcelorMittal to take over Essar Steel following a legal tussle that
dragged through multiple courts for over two years.
US fines Infosys
 Infosys, India's top IT major, has agreed to pay $800,000 to settle allegations of misclassification of foreign
workers and tax fraud.
 Infosys will pay California $800,000 (nearly Rs 5.7 cr) to resolve allegations that between 2006 and 2017,
approximately 500 Infosys employees were working in the State on Infosys-sponsored B-1 visas rather than H-1B
visas. H-1B visas also require employers to pay workers at the local prevailing wage.
CRISIL acquires Greenwich
 CRISIL is set to acquire the US-based Greenwich Associates and its six subsidiaries for about $40 mn as it looks
to become a leading player in the global benchmarking analytics market.
 The acquisition will be done through CRISIL Ltd's 100 per cent subsidiary, CRISIL Irevna US LLC.
EC to implement PPRTMS
 The Election Commission will implement Political Parties Registration Tracking Management System.
 It will be implemented through an online portal to facilitate tracking of status of application by applicants.
Fact-checking unit
 The Press Information Bureau of India has set up a fact-checking unit to verify news related to the various
ministries to combat fake news.
 Information and Broadcasting Minister Prakash Javadekar has again called for combating fake news and even
said that it is more dangerous than paid news.
 People can send a snapshot or URL of dubious material at pibfactcheck@gmail.com.
Govt makes hallmark mandatory
 Hallmarking for Gold jewellery and artefacts will be mandatory from 15 Jan 2021.
 Consumer Affairs Minister Ram Vilas Paswan has said, notification in this regard will be issued by 15 Jan 2020,
giving a period of one year for implementation.
 Jewellers and Retailers will get one year time for clearing their old or existing stock.
 More than 26 thousand jewellers have taken the Bureau of Indian Standards, BIS (Hallmarking) registration
till now.
National Coastal Mission
 Environment, Forest and Climate Change Minister Prakash Javadekar on 29 Nov said the govt has envisaged
establishing a National Coastal Mission under the National Action Plan on climate change.
 The Mission aims addressing impact of climate change on coastal and maritime ecosystems, infrastructure and
communities in coastal areas though mitigation measures.
61% households use LPG
 About 61 per cent of total households in India used liquefied petroleum gas (LPG) for cooking in India in 2018,
according to the latest National Statistical Office (NSO) survey report.
 In 2018, the govt had claimed around 90 per cent LPG penetration across the country by Dec 2018.
 Only 48.3 per cent of the rural households used LPG, while the figures were much higher in urban areas at 86.6
per cent, according to the NSO’s 76th round survey on ‘Drinking Water, Sanitation, Hygiene and Housing
Condition’ released recently.
Fit India School grading system
 Prime Minister Narendra Modi announced the launch of Fit India School grading system in schools across the
country, in his radio programme Mann Ki Baat.
 In the Fit India Movement, schedules have been drawn for ranking schools in accordance with fitness.
 The schools that achieve this ranking will also be able to use the `Fit India` logo and flag.
 The Fit India School rankings have been divided into 3 categories -- The Fit India Schools, which is the first level
of ranking, Fit India School (3 star) and Fit India School (5 star).
National outreach programme
 The Govt e-commerce portal GeM has launched a national outreach programme, GeM Samvaad, to bring on-
board more local sellers.
 The outreach programme will take place with stakeholders across the country and with local sellers to facilitate
on-boarding of local sellers on the marketplace.
 The programme was launched by Commerce Secretary Anup Wadhawan in New Delhi.
 The programme will cover all the States and Union Territories of the country.
Govt testing GIMs
 The govt is testing a prototype of an Indian equivalent of popular messaging platforms, such as WhatsApp and
Telegram, for secure internal use.
 Codenamed GIMS or Govt Instant Messaging System, the platform is in the pilot testing stage across some
states, including Odisha — and is learnt to have been released to the Indian Navy to be tried out on trial basis.
 Designed and developed by the Kerala unit of National Informatics Centre (NIC), GIMS is being packaged for
employees of Central and state govt departments and organisations for intra and inter organisation
communications.
Phase-III of PMGSY
 Rural Development Minister Narendra Singh Tomar on 18 Dec launched Phase-III of Pradhan Mantri Gram
Sadak Yojana (PMGSY) in New Delhi to further enhance connectivity of villages with hospitals, schools and
agricultural markets.
 The Phase-III of PMGSY aims at consolidation of 1 lakh 25 thousand Kilometers through Routes and Major
Rural Links that connect habitations to Gramin Agricultural Markets, Higher Secondary Schools and Hospitals
with an estimated cost of Rs 80,250 cr for the period 2019-20 to 2024-25. The Central Share will be Rs 53,800 cr.
Regulation for vintage vehicles
 In a respite for enthusiasts and collectors of vintage cars, classic vehicles of more than 50 years of age may flash
special number plates and enjoy exemption from scrappage once the regulation for these vehicles are formalised.
Extension to Accessible India campaign
 The deadline for the govt’s Accessible India campaign that aims at making public spaces friendly for persons with
disabilities has been extended due to “slow progress.”
 Minister of State for Social Justice and Empowerment Krishanpal Gurjar said “due to slow progress, revised
deadlines have been extended to Mar 2020.”

 The decision was taken by the Central Advisory Board chaired by Social Justice and Empowerment Minister
Thawar Chand Gehlot.
Concession for youth
 Indian Railways has decided to grant 50 per cent concession for the youth participating in the Ek Bharat
Shrestha Bharat programme.
 The concession will be given in basic fares of Second and Sleeper Class to youths with emoluments of not more
than five thousand rupees per month for travelling from one State to another State to take part in the programme.
Seventh Economic Census
 The 7th Economic Census, which is being conducted nationwide through common services centres (CSCs), is
expected to be completed by Mar 2020 according to the Central Statistics Office Director General (Social
Statistics) AK Sadhu.
 The Ministry of Statistics and Programme Implementation (MoSPI) has tied up with CSC e-Governance Service
for the 7th Economic Census.
 The survey was launched in Delhi on 13 Dec. For the first time, the entire Census is being conducted on a digital
platform by the use of an application which will ensure high accuracy and data security.
 In Delhi, the entire process will take around three months where enumerators will survey around 45 lakh
establishments and households.
 Delhi is the 26th state where the survey has been launched, while the process is already on in 20 states and five
union territories (UTs).
 Started in 1977, only six economic censuses have been done so far due to massive work involving in-depth survey
and data compilation.
Sustainable Development Cell
 The Ministry of Coal has decided to establish a 'Sustainable Development Cell' in order to promote
environmentally sustainable coal mining in the country and address environmental concerns during the
decommissioning or closure of mines.
 This move gains significance as the new private entities are now going to form a significant part of the future, a
set of guidelines for proper rehabilitation of mines need to be evolved in tune with global best practices.
NPPA invokes DPCO 2013
 The govt’s National Pharmaceutical Pricing Authority (NPPA) has for the first time invoked the Drug Price
Control Order, 2013, (DPCO, 2013) to raise the prices of 21 formulations or medicines that are under price
regulation to ensure their availability.
 This would be a one-time increase of 50 per cent above the present ceiling prices.
 The pharma industry has been lobbying for this for almost two years, citing a steep rise in prices of active
pharmaceutical ingredients (APIs) or bulk drugs largely imported from China.
 The prices of APIs have gone up in the range of 5-88 per cent, depending on the products.
 API prices constitute 40-80 per cent of the formulation cost.
SC orders Smog Tower
 The Supreme Court on 16 Dec gave three months' time to the Centre and Delhi govt for the pilot project of setting
up a 'smog tower' at Connaught Place to deal with the problem of air pollution, while brushing aside their request
seeking nine months for the same.
Free WiFi at 5,500 stations
 The Railways has provided free WiFi at 5,500 stations across the country, the national transporter's digital arm
RailTel has announced.
 Jharkhand's Mahuamilan station, which comes under the East Central Railway zone, became the 5,500th station
to get the facility.
 The Railways began the service of providing free WiFi at its stations from Jan 2016 from Mumbai Central station,
and in a span of 46 months RailTel has extended the service to 5,500 stations across the country.
Aadhaar must for PM Kisan fund

 After releasing three instalments of the PM Kisan income support scheme to farmers without insisting on linkage
of bank accounts with Aadhaar, the Narendra Modi-led govt now seems to be particular that the fourth tranche be
transferred to beneficiaries whose bank accounts are linked with Aadhaar.
 The release of funds is expected to inject Rs 10,000 cr into the economy at a time when economic growth is
depressed and the govt is looking for ways to revive the sector especially the rural economy.
 This will be the largest disbursal of money under the scheme. Under the Pradhan Mantri Kisan Samman Nidhi
Yojana -- launched in 2018 -- the govt provides income support of Rs 6,000 per year to all farmer families in the
country in instalments.
National portability of benefits
 Minister for Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan on 3 Dec said the Govt has
begun implementing nation-wide portability of the benefits under the National Food Security Act (NFSA) 2013.
 Eligible households or beneficiaries covered under NFSA would be able to lift their entitled food grains from any
Fair Price Shop, FPS, in the country.
 This would be possible by using the same ration card after biometric or Aadhaar authentication on Electronic
Point of Sale, EPoS, device at an FPS of Destination/Sale State through ‘One Nation One Ration Card’ Plan.
Smaller states lead under PMEGP
 Tamil Nadu, Assam, Karnataka and Arunachal Pradesh, along with India’s most populous State Uttar Pradesh,
have emerged as major beneficiaries of the Prime Minister’s Employment Generation Programme (PMEGP)
in the last four years.
 These top five States have generated 34 per cent of the total employment opportunities created under the
programme.
Easier guidelines for OCI cards
 In view of the recent difficulty faced by some Overseas Citizens of India (OCI) while travelling to the home
country, Govt has decided to relax the norms for such cardholders till 30 Jun 2020.
 In case an OCI card holder is below the age of 20 years and has not got the OCI card re-issued on change of
passport, he or she may travel on the strength of the existing OCI card bearing old passport number subject to the
condition that along with the new passport, the OCI cardholder carries old passport mentioned in the OCI card.
First meeting of Ganga council
 Prime Minister Narendra Modi chaired the first meeting of the National Ganga Council in Kanpur on 14 Dec.
 The council was constituted in 2016 to oversee the cleaning of the Ganga and is supposed to meet at least once a
year with the Prime Minister chairing the session.
 The meeting was also attended by Uttar Pradesh Chief Minister Yogi Adityanath; Uttarakhand Chief Minister
Trivendra Singh Rawat; Union Ministers Prakash Javadekar, Gajendra Singh Shekhawat, Harsh Vardhan, R.K.
Singh, Prahlad Patel, Mansukh Mandavia and Hardeep Singh Puri.
ASSOCHAM AGM in Delhi
 Prime Minister Narendra Modi addressed the annual general meeting of industry body, the Associated Chambers
of Commerce and Industry of India (ASSOCHAM) in New Delhi.
 The theme of the event was 'New India Aspiring for a $5-tn economy'.
 There have been a number of questions raised about the govt’s corporate engagement, with allegations - mainly
by opposition parties - that the corporates are afraid to raise their voice and flag their concerns.
ICMR sets up a task force
 Indian Council of Medical Research (ICMR) is setting up a task force on gene therapy research to encourage
research in the emerging field.
 The research body among other things has proposed forming the task force to explore gene editing based
therapeutic approaches to treat illnesses.
SC upholds Speaker’s order
 The Supreme Court on 13 Nov upheld the disqualification of 17 Congress-JD(S) MLAs in Karnataka on
orders of the Speaker but allowed them to contest the Dec 5 bypolls in the state.

 The court struck down the portion of the order of then Speaker KR Ramesh Kumar by which the legislators
were disqualified till the end of the 15th Karnataka Assembly.
 A three-judge bench of justices NV Ramana, Sanjiv Khanna and Krishna Murari said if elected in bypolls, these
disqualified MLAs can become ministers or hold public office.
SC delivers landmark verdict
 In a unanimous verdict, the Supreme Court on 9 Nov paved the way for the construction of a Ram Temple at the
disputed site at Ayodhya.
 It also directed the Centre to allot an alternative five-acre plot to the Sunni Waqf Board for building a mosque at a
prominent place in the holy town.
 In one of the most important judgments in Indian history, a five-judge Constitution Bench headed by Chief Justice
Ranjan Gogoi put an end to the more than a century-old dispute.
 The court in it’s over one-thousand-page verdict said the faith of the Hindus that Lord Ram was born at the
demolished structure is undisputed.
 It ordered a trust should be formed within three months for the construction of the temple at the site.
 The bench, also comprising Justices SA Bobde, DY Chandrachud, Ashok Bhushan and S Abdul Nazeer, said
possession of the disputed 2.77 acre-land rights will be handed over to the deity Ram Lalla, who is one of the
three litigants in the case.
 The possession, however, will remain with a Central Govt Receiver.
 The historic verdict was pronounced on 14 appeals filed in the apex court against the 2010 Allahabad High Court
judgment.
Brazilian President to be the Chief Guest
 The Brazilian President, Jair Bolsonaro has accepted Prime Minister Narendra Modi’s invitation to be the
Chief Guest at India’s Republic Day celebrations in 2020.
 Prime Minister Modi met him on the sidelines of the 11th BRICS Summit held in Brasilia.
 In 2019, South African President Cyril Ramaphosa was in attendance as the chief guest.
‘Tamanna’ aptitude test
 In a bid to help students make the right career choices, the Central Board of Secondary Education (CBSE) and
National Council for Educational Research and Training (NCERT) have launched an online aptitude test
called as ‘Tamanna’ (Try And Measure Aptitude And Natural Abilities).
 It aims at helping students of Class 9 and 10 make a better choice of subjects, eventually helping them in making
an informed decision while choosing subjects in Class 11 and 12.
 In short, the CBSE (Know your aptitude) KYA exam will assess a student’s weaknesses and strengths in
academics.
 According to the CBSE circular, the registration process for KYA will begin from Jan 29, 2020 on its official
website - cbse.nic.in.
Vigilance awareness week
 The Central Vigilance Commission, CVC observed vigilance awareness week starting from 28 Oct till 2 Nov,
to promote probity in public life through citizen participation.
 The theme for the vigilance awareness week is ‘Integrity - A way of life’.
 The CVC requested all the central govt Ministries and organisations to conduct activities relevant to the theme
both within their organisation and as outreach activities for citizens.
Common foundation course
 ‘Aarambh’, the common foundation course for civil service probationers was held at the Statue of Unity in
Kevadia, with around 450 civil service probationers participating in it.
 This was the first ever of its kind common foundation course for civil service probationers.
 The theme this year was ‘How to achieve the goal of making India a 5 trillion dollar economy’.
 World Bank president David Malpass addressed the trainees at the event.
 Prime Minister Narendra Modi also addressed the probationers during the closing session on 31 Oct.

 This program in the lap of nature, under the stalwart statesman Sardar Patel’s statue was even more symbolic with
the civil service probationers imbibing the principles that Sardar Patel laid out for civil servants.
Govt launches SAANS campaign
 Union Minister for Health and Family Welfare Harsh Vardhan on 16 Nov launched ‘SAANS’, a campaign
aimed at reducing child mortality due to pneumonia, which contributes to around 15 per cent of deaths
annually of children under the age of five.
 SAANS, short for ‘Social Awareness and Action to Neutralise Pneumonia Successfully’ was launched by the
Union Health Ministry to mobilise people to protect children from pneumonia, and train health personnel and
other stakeholders to provide prioritised treatment to control the disease.
 The govt aims to achieve a target of reducing pneumonia deaths among children to less than three per 1000 live
births by 2025.
Draft industrial policy
 The Department for Promotion of Industry and Internal Trade (DPIIT) has prepared an initial draft industrial
policy which targets to raise value addition in the manufacturing sector to $1 trillion by 2025.
 The policy envisions to create globally competitive business enterprises which can generate gainful employment
and sustainable livelihoods.
Winter session of Parliament
 The situation in Jammu and Kashmir, economic slowdown, unemployment and the govt’s plan to bring the
Citizenship bill are some of the issues which are dominating the Winter session of Parliament which began on 18
Nov.
 Besides the passage of the Citizenship (amendment) bill, the govt also plans to convert two crucial ordinances
into law during the session. One ordinance reducing corporate tax rate for new and domestic manufacturing
companies to arrest slowdown in the economy and boost growth was issued in Sep to give effect to amendments
in the Income Tax Act, 1961 and Finance Act, 2019.
 The second ordinance, also issued in Sep, banned sale, manufacture and storage of e-cigarettes and similar
products. At an all-party meeting was convened by Speaker Om Birla on 16 Nov.
Startup India Vision 2024
 The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed significant cut in the
compliance time to just one hour per month for start-ups as part of measures to ease regulatory requirements for
budding entrepreneurs. The proposal is part of the Start-up India Vision 2024, prepared by the department to
promote the growth of budding entrepreneurs.
Govt scraps NSO survey
 The govt has decided to scrap the National Statistical Office’s (NSO’s) consumer expenditure survey conducted
in 2017-18 over “data quality”.
 In view of the data quality issues, the Ministry (of Statistics and Programme Implementation) has decided not to
release the consumer expenditure survey results of 2017-2018.
 The ministry is separately examining the feasibility of conducting the next consumer expenditure survey in 2020-
21 and 2021-22 after incorporating all data quality refinements in the survey process.
 This implies that India will unlikely have an estimate on poverty for a period of 10 years.
Campaign to end violence
 The Home Ministry in collaboration with the UN Women on 15 Nov flagged off an awareness campaign to end
violence against women.
 The initiative is part of the #OrangeTheWorld global campaign. As part of the campaign, people would be made
aware about India’s single emergency helpline 112, an internationally recognised emergency number used in
several countries.
Shala Darpan portal
 Union Minister of State for Human Resources Development Sanjay Dhotre on 7 Nov launched the Shala Darpan
Portal of Navodaya Vidyalaya Samiti.

 This will integrate all Jawahar Navodaya Vidyalayas with a common standard which includes around 636 schools
and 2.67 mn students.
HS code for Khadi
 In a move to give impetus to the export of Khadi, the govt has allocated a separate Harmonized System (HS)
code for this fabric.
 Khadi and Village Industries Commission (KVIC) Chairman Vinai Kumar Saxena said, allocation of HS
code to the khadi will help the govt to plan the export strategies effectively.
ICEDASH, ATITHI initiatives
 Finance Minister Nirmala Sitharaman on 4 Nov unveiled two new IT Initiatives - ICEDASH and ATITHI for
improved monitoring and pace of customs clearance of imported goods and facilitating arriving international
passengers.
 ICEDASH is an Ease of Doing Business monitoring dashboard of the Indian Customs helping the public see the
daily Customs clearance times of import cargo at various ports and airports.
5th edition of Wastelands Atlas
 Agriculture Minister Narendra Singh Tomar on 5 Nov released the fifth edition of Wastelands Atlas - 2019. The
Atlas, published jointly by Department of Land Resources and National Remote Sensing Centre, provides
robust geospatial information on wasteland.
NITI Aayog releases Report
 NITI Aayog on 18 Nov released the report on ‘Health Systems for a New India: Building Blocks—Potential
Pathways to Reforms’.
 The report was released by NITI Aayog Vice Chairman Dr Rajiv Kumar in the presence of Bill Gates.
 Over the last few years, India has embarked on a journey towards providing improved access to high-quality,
affordable healthcare for the most unreached and vulnerable population of the country.
Pact for support in innovation
 The Union ministry of health and family welfare on 18 Nov signed a memorandum of cooperation (MoC) with
Bill & Melinda Gates Foundation (BMGF).
 Under the MoC, Gates Foundation will provide technical, management and program design support through its
grantees and other partners, with a special focus on innovation, best practices and enhancing performance
management, while working closely with the govt.
MNREGS misses target
 Only 51 days of work was provided per household across the country in 2018-19 as against 100 days mandated in
the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), the Centre said on 19 Nov.
 While the Centre said the number of beneficiaries and budgetary allocation towards the rural employment scheme
have increased over the years, the rural development ministry is struggling to meet the targets of the prime
minister’s housing for all scheme for rural areas.
 According to the data, Mizoram topped the list providing 92 workdays, followed by West Bengal (77 workdays)
and Kerala (66 workdays).
No junk food near schools
 Food regulator Food and Standards Authority of India (FSSAI) on 5 Nov issued draft regulations proposing a
ban on sale as well as advertisements of junk foods in school canteens and within 50 metres around school
campuses as part of its objective to ensure safe and wholesome food for children.
 The FSSAI has sought comments from stakeholders within 30 days on its draft regulations titled ‘Food Safety
and Standards (Safe Food and healthy diets for School Children) Regulations, 2019’.
DPIIT establishes Council
 The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry,
Govt of India, has set up a Development Council for Bicycle for vision planning in design, engineering and
manufacturing of lighter, smarter, value added, safe and faster premium bicycles which are comparable with
global standards for exports and domestic market.

 A Twenty-three-member Council will be headed by Secretary DPIIT. The constitution of the Council is for a
period of two years. The Council will stimulate value chain and fuel accelerated demand growth of Make-in-India
through various activities.
Supreme Court ruling on AGR
 The Supreme Court’s ruling on Adjusted Gross Revenue (AGR) has plunged the telecom sector into a severe
financial crisis.
 Incumbent operators, already reeling under a debt of nearly Rs 4 lakh cr, will now be asked to pay Rs 1.3 lakh cr
of dues to the Exchequer. The revenue share was to be calculated on the AGR.
Govt accords ‘Maharatna’ status
 The govt accorded ‘Maharatna’ status to state-owned Hindustan Petroleum and Power Grid Corporation, thus
giving them greater operational and financial autonomy.
 Two separate orders to this effect were issued by the Department of Public Enterprises, under the Ministry of
Heavy Industry and Public Enterprises.
 The grant of Maharatna status to the PSUs will impart enhanced powers to their Boards to take financial
decisions.
 The Boards of Maharatna central public sector enterprises (CPSEs) can make equity investments to undertake
financial joint ventures and wholly owned subsidiaries and undertake mergers and acquisitions in India and
abroad, subject to a ceiling of 15 per cent of the net worth of the concerned CPSE, limited to Rs 5,000 cr in one
project.
Parliament passes bill
 Parliament has passed the Jallianwala Bagh National Memorial (Amendment) Bill, 2019, with Rajya Sabha
approving it on 19 Nov.
 The Lok Sabha had passed this Bill in the last session. The Bill seeks to amend the Jallianwala Bagh National
Memorial Act, 1951.
 The Bill also allows the Central govt to terminate the term of a nominated trustee before the expiry of the period
of his term, without assigning any reason.
RIL beats BP
 Reliance Industries Ltd., run by Asia’s richest man Mukesh Ambani, has eclipsed BP Plc to break into an elite
club of energy supermajors.
 The Indian conglomerate’s market capitalization was about $133 bn, overtaking the British energy giant’s $132
bn value at the close of trading on 19 Nov.
 Reliance’s shares have increased at three times the pace of India’s benchmark index this year after its billionaire
owner in Aug announced plans to cut the company’s net debt to zero in 18 months through measures including a
stake sale in the oil-to-chemicals business to Saudi Aramco.
National Education Day
 11 Nov is celebrated as the National Education Day.
 This day is observed every year in India to commemorate the Birth Anniversary of Maulana Abul Kalam Azad,
the first Education Minister of independent India.
 On this occasion, Union Minister for Human Resource Development Ramesh Pokhriyal Nishank interacted with
the students of Kendriya Vidyalaya from across the nation through video conferencing.
Govt relaxes fuel retailing norms
 The govt has opened up fuel retailing norms, allowing non-oil companies to set up petrol pumps to increase
competition.
 At present, to obtain a fuel retailing licence in India, a company needs to invest Rs 2,000 cr in either hydrocarbon
exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals.
 The Cabinet Committee on Economic Affairs (CCEA) has approved review of guidelines for giving
authorisation for marketing of transportation fuel.
 Companies with Rs 250 cr turnover can enter fuel retailing, subject to condition that 5% of the outlets will be in
rural areas. The fuels under consideration include petrol, diesel, LNG and CNG.
IOCL gets clearance
 The Ministry of Environment has granted clearance to the Indian Oil Corporation Ltd (IOCL) to set up a Rs
766-cr 2G ethanol plant in Haryana’s Panipat district.
 The project would help in achieving the goal of doubling farmers’ income along with promoting use of
environment friendly fuel.
 The IOCL had submitted a proposal seeking environment clearance for its proposed 100 KLPD Ligno-Cellulosic
2G ethanol plant at Baholi in Panipat district of Haryana.
IndiGo inks codeshare pact
 Top Indian airline IndiGo has signed a one-way codeshare agreement with Qatar Airways, letting the Middle
Eastern airline get more access to the fast-growing Indian market.
 The agreement will enable Qatar Airways to place its code on IndiGo flights between Doha and Delhi, Mumbai
and Hyderabad.
 IndiGo, owned by InterGlobe Aviation, has about 40 per cent share of the domestic market and operates a large
fleet of narrowbody aircraft.
ACCC sues Google
 Australia’s consumer watchdog announced legal action against Google for allegedly misleading customers about
the way it collects and uses personal location data.
 The Australian Competition and Consumer Commission (ACCC) claims Google collected, kept and used
“highly sensitive and valuable personal information” of Android phone and tablet users without giving them an
informed choice.
IRCTC to operate Golden Chariot
 The Indian Railway Catering And Tourism Corporation, IRCTC, will operate and manage luxury train,
Golden Chariot from Mar 2020.
 An agreement in this regard was signed between Karnataka State Tourism Development Corporation,
KSTDC, and IRCTC in New Delhi on 19 Nov, in the presence of Minister of State for Railways Suresh Angadi
and Karnataka Tourism Minister CT Ravi.
UNESCO recognises Mumbai
 UNESCO has designated Mumbai as a member of UNESCO Creative Cities Network (UCCN) in the field of
FILM and Hyderabad in the field of GASTRONOMY.
 Culture Minister Prahlad Singh Patel congratulated the people of Mumbai and Hyderabad for this unique
distinction.
 UCCN, created in 2004, is a network of cities which are thriving, active centres of cultural activities in their
respective countries. The UNESCO Creative Cities Network now counts a total of 246 cities.
Guinness World Record
 The four-day India International Science Festival (IISF) was organised in Kolkata.
 The 5th edition of the annual event was jointly organized by Ministry of Science & Technology and Earth
Sciences and Vijnana Bharati (Vibha).
 A Guinness World Record of most students assembling radio kits simultaneously was created on the third day
of IISF on 8 Nov. While 490 students participated in the event, a record 268 succeeded in completing the
assembling process in the stipulated hours.
 A representative of the Guinness World Records presented a certificate and memento to Union Minister of
Science and Technology Harsh Vardhan who took it on behalf of the students.
Collaborate for genetic testing
 A top American university will expand genetic testing in India in partnership with the All India Institute of
Medical Sciences (AIIMS) in Delhi and the Kasturba Medical College in Manipal.
 A 2.3 nm US dollar grant from the National Institute of Health over five years will help the University of
Michigan and Indian geneticists identify and confirm genetic changes that are the basis of developmental
disorders.
NRIUMSD in Hyderabad
 Union Minister of State for AYUSH inaugurated the National Research Institute of Unani Medicine for Skin
Disorders (NRIUMSD) in the city.
 The institute has been upgraded from Central Research Institute of Unani Medicine (CRIUM).
 The CRIUM is perhaps the only medical institution in the world which has treated more than 1.5 lakh patients of
vitiligo alone.
India becomes ODF
 On the occasion of the 150th birth anniversary of Mahatma Gandhi, Prime Minister Narendra Modi on 2 Oct
declared India to be an ‘open defecation-free’ (ODF) country.
 Earlier, Rajya Sabha Deputy Chairman Harivansh Narayan Singh said that an open defecation free India is a big
achievement on the landmark occasion.
 In 60 months, 600 mn people have been given access to toilets, more than 110 mn toilets have been built.
 Sanitation, conservation of environment and animals were dear to Gandhiji.
 The Prime Minister also said that Plastic is a major threat to all of them, so we have to achieve the goal to
eradicate ‘single-use plastic’ from the country by 2022.
Record cotton crop
 The latest United States Department of Agriculture (USDA) estimate for the marketing year 2019-20 has
projected India’s cotton crop at 305 lakh US bales (each of 217.7 kg), which works out to 390 lakh India bales
(each of 170 kg).
 Last season in 2018-19, India’s cotton crop was reported decade-low at 312 lakh bales by the apex cotton trade
body, Cotton Association of India (CAI).
 Harvested area in India is projected at a record 12.9 mn hectares in 2019-20, as domestic prices and internal
support price prospects favour cotton over competing crops.
New rules for CIC and ICs
 The Chief Information Commissioner (CIC) and Information Commissioners (ICs) may no longer enjoy five-
year tenures and pay and perks similar to that of the Chief Election Commissioner (CEC) and Election
Commissioners (ECs) as allowed under the Right to Information Act, 2005.
 According to a fresh DoPT proposal, the terms of conditions of CIC, including her/ his pay and perks, should be
the same as that of the Cabinet Secretary, which is significantly lower than that of the CEC.
NCERT to revise NCF
 The National Council of Educational Research and Training (NCERT) is planning to review the 14-year-old
National Curriculum Framework (NCF) in accordance with new national education policy and set up a
committee for the purpose.
 According to NCERT Director Hrushikesh Senapaty, the council is going to announce a committee which will
revisit the NCF to bring it on lines of the National Education Policy (NEP).
Van Dhan Internship Programme
 Arjun Munda, Union Minister of Tribal Affairs launched the “Van Dhan Internship Programme” organised by
TRIFED under Ministry of Tribal Affairs on 16 Oct.
 These interns will help the tribal population in becoming self reliant and entrepreneurs.
Visual Impairment Survey
 The National Blindness & Visual Impairment Survey India 2015-2019, released recently, looks at district-wise
prevalence of blindness and visual impairment.
 The survey randomly identified 31 districts with a sample size of about 93,000, among whom 18,000 were less
than 50 years of age.
 Among those aged 50 and above, the focus of the study, prevalence of blindness is lowest in Thrissur district of
Kerala (1.08%) while that of visual impairment is lowest in Thoubal in Manipur (7.3%).
 Bijnor in Uttar Pradesh has the highest prevalence in both categories, at 3.67% and 21.82% respectively.
 In low prevalence of blindness, Thrissur is followed by North Goa, Khera (Punjab) and Virudhunagar (Tamil
Nadu).
Govt to set up skilling centres
 Union Skill Development and Entrepreneurship Minister Mahendra Nath Pandey on 15 Oct unveiled plans to
set up 14 Authorized World Skills India Training Centres across 9 cities for media and entertainment sector.
 The new institutes will be set up for advanced skill training of candidates in media and entertainment sector and to
further develop skilling eco-system for training candidates for the international market.
Package for PoK families
 The Union Cabinet on 9 Oct approved a one-time payment of Rs 5.5 lakh as a resettlement package for the 5,300
displaced families who had come from Pakistan-occupied Kashmir and initially settled outside Jammu and
Kashmir but later relocated to the state.
POSHAN atlas to map crops
 In a bid to tackle malnutrition, govt is developing an Atlas to map the crops and food grains grown in different
regions of the country so that nutritious protein rich food in local areas can be promoted.
 The ministry of Women and Child Development (WCD) in association with the Bill & Melinda Gates
Foundation and Deendayal Research Institute is developing a POSHAN atlas under POSHAN abhiyan, govt’s
multi-ministerial convergence mission with the vision to ensure attainment of malnutrition free India by 2022.
Govt to amend Arms Act
 Makers of “prohibited” arms illegally and those carrying such guns may soon have to spend the remainder of their
life in jail if convicted under a new law proposed by the Union Home Ministry.
 According to the draft Arms (Amendment) Bill, anyone possessing more than two licensed guns will have to
deposit the third one with authorities as the govt is planning to ban the practice of granting multiple licences to an
individual.
Scheme for cooperatives
 In line with schemes like Start-up India and Stand-up India aimed at young entrepreneurs, Agriculture Minister
Narendra Singh Tomar launched the Yuva Sahakar-Cooperative Enterprise Support and Innovation
Scheme 2019 with an annual outlay of Rs 100 cr.
 The scheme is aimed at cooperatives in the northeastern region, cooperatives registered and operating in
aspirational districts as identified by NITI Aayog, and cooperatives with 100 per cent women/SC/ST/persons with
disability members.
 The scheme was launched at the first-ever India International Cooperatives Trade Fair (IICTF) held in New
Delhi from Oct 11-13.
Mobile app for 2021 census
 The 2021 census will be conducted through a mobile phone application, moving away from the traditional pen
and paper to give Digital India a boost, Union Home Minister Amit Shah has said.
 The mammoth nationwide exercise will be carried out in 16 languages at a cost of Rs 12,000 cr, he said after
laying the foundation stone of a new building of the Registrar General of India and the Census Commissioner.
 The census will have its reference date as Mar 1, 2021, but for snow-bound Jammu and Kashmir, Himachal
Pradesh and Uttarakhand it will be Oct 1, 2020.
Govt launches ‘Prakash’ portal
 The govt on 3 Oct launched a web portal, Prakash, with a view to improving coordination between the power,
coal and railway ministries to ensure coal supplies to power plants.
 The portal was jointly launched by power minister RK Singh and coal minister Pralhad Joshi.
 Apart from mapping coal stocks in mines, the portal will also help stakeholders monitor the movement of railway
rakes and coal availability at power plants. In line with the govt’s predisposition for acronyms, Prakash stands for
‘Power Rail Koyla Availability through Supply Harmony’.
MG National Fellowship
 The Ministry of Skill Development and Entrepreneurship (MSDE) on has announced its partnership with Indian
Institute of Management (IIM) - Bangalore to launch a new programme ‘Mahatma Gandhi National
Fellowship’.
Govt reconstitutes EAC-PM

 The govt reconstituted the Economic Advisory Council to the Prime Minister (EAC-PM) for a period of
another two years. Rathin Roy from the National Institute of Public Finance and Policy and Shamika Ravi of
Brookings Institution have been dropped as part-time members.
 Sajjid Chenoy, India economist at JP Morgan is the new part-time member. Part-time member Ashima Goyal of
Indira Gandhi Institute of Development Research and full time members Bibek Debroy of Niti Aayog and Ratan
Watal will continue to be part of the EAC-PM. The EAC-PM was revived in Sep 2017 with a term of two years.
Food Safety Mitra Scheme
 On the occasion of World Food Day (16 Oct), Union Minister for Health and Family Welfare Dr Harsh
Vardhan launched Food Safety Mitra Scheme, Eat Right Jacket and Eat Right Jhola.
 Eat Right India and Fit India Campaign can prove to be a big success with the right strategy and implementation.
 The Minister urged people to reduce ghee, salt and ghee in food.
 Food Safety and Standards Authority of India (FSSAI) has introduced scheme of Food Safety Mitra (FSM)
through which it plans to engage motivated individuals with the food safety ecosystem at ground level.
Govt allow girls in Sainik schools
 The decision was taken after the success of the pilot project initiated by the Defence Ministry for admission of girl
children in Sainik School Chhingchhip in Mizoram two years ago.
 Singh has directed authorities concerned to ensure availability of necessary infrastructure and sufficient women
staff in Sainik schools for smooth implementation of the directive.
World Students' Day
 Every year, former President APJ Abdul Kalam's birthday is celebrated with great joy across the country.
 In 2010, the United Nations had declared Oct 15 as World Students' Day.
 The event, however, is not listed on the official United Nations website's "UN Observance Day".
 A recollection of APJ Abdul Kalam's legacy is incomplete without a mention of his role as a teacher.
 Dr Kalam was dedicated to teaching and identified himself first as a teacher and then as anything else.
More houses under PMAY-Urban
 The govt has approved the construction of 1.23 lakh houses under the Pradhan Mantri Awas Yojana (Urban),
taking the total number of houses sanctioned under the scheme to over 90 lakh.
 The approval was given by the Central Sanctioning and Monitoring Committee (CSMC).
 The CSMC, headed by Union Housing and Urban Affairs secretary Durga Shanker Mishra, approved 630
proposals from participating states for construction of 1.23 lakh houses with an overall investment of Rs 4,988 cr.
DHRUV programme
 Union Minister for Human Resources Development Ramesh Pokhariyal Nishank launched ambitious DHRUV
programme in the headquarters of Indian Space Research Organization (ISRO) in the city.
 DHRUV is a unique programme to identify talented students and mentor them in the centre of excellence for 14
days so that they can reach their full potential and work for the society.
CIPET to be set up in Telangana
 Union Chemicals and Fertilizers Minister DV Sadananda Gowda has announced that a new Centre of the
Central Institute of Plastics Engineering and Technology (CIPET) will soon be set up in the city in
Telangana.
Govt launches CPGRAMS reforms
 Union Minister Jitendra Singh on 25 Sep launched Centralised Public Grievances Redress and Monitoring
System (CPGRAMS) reforms in the Department of Posts to reduce the time taken for grievance redressal and
also improve the quality.
 The Minister of State for Personnel, Public Grievances and Pensions said the priority of the govt is to provide
transparent and citizen-centric governance to the people.
Govt launches SUMAN scheme
 Aiming zero preventable maternal and newborn deaths in India, the central govt on 10 Oct launched the
Surakshit Matritva Aashwasan (SUMAN) scheme, under which pregnant women, mothers up to 6 months after
delivery, and all sick newborns will be able to avail free healthcare benefits.
 The scheme will largely help in bringing down maternal and infant mortality rates in the country.
 Under the scheme, the beneficiaries visiting public health facilities are entitled to several free services.
AI uses Taxibot
 Air India has become the first airline in the world to use a Taxibot on a A-320 aircraft with passengers on board.
 Taxibot is a robot-used aircraft tractor for taxiing an aircraft from parking bay to runway and vice-versa.
 Air India Chairman and Managing Director Ashwani Lohani flagged off flight AI665 and it was carried to
runway using Taxibot at Terminal 3 of the Delhi Airport - to Mumbai.
IAU honours Indian vocalist
 In a rare honour, a minor planet located in the asteroid belt between Mars and Jupiter has been named after
doted 89-year-old Indian classical vocalist Pandit Jasraj.
 The international body with authority in all things astronomy, the International Astronomical Union (IAU), has
named the minor planet 'Panditjasraj (300128)' following its discovery more than a decade ago on 11 Nov 2006.
 Minor planets are celestial objects in our solar system that orbit the Sun but aren't planets or comets.
IndianOil launches drive
 Country’s largest PSU oil refiner and retailer Indian Oil Corporation has taken up various initiatives to support the
govt’s drive to eliminate single use plastic by converting these toxic wastes to productive use.
 These initiatives were launched to mark the 150th birth anniversary of Mahatama Gandhi and as part of the
Swachh Bharat Abhiyan.
First Corporate-run train
 Uttar Pradesh Chief Minister Yogi Adityanath on Friday flagged off the Tejas Express, the country's first
"private" train run by its subsidiary IRCTC, between Lucknow and New Delhi.
 He said the state govt will bear the cost of the land if the railways take up the Agra-Varanasi project and
suggested similar trains to Allahabad and Gorakhpur. The commercial run of the new Tejas Express has started.
 The Railway Board has asked zonal railways to consider the feasibility of running private trains on 50 key routes,
including Delhi-Mumbai and Delhi-Howrah.
Second Vande Bharat Express
 Vande Bharat Express on Delhi-Katra route was flagged off by Home Minister Amit Shah.
 The Vande Bharat train will ease travel to Katra for Vaishno Devi devotees.
 The train started its commercial run from Oct 5 and will bring down the travel time between Delhi and Katra to
eight hours from the current 12 hours.
 The semi-high speed Train 18, which was rechristened as Vande Bharat Express, is country's second such train.
 The first Vande Bharat Express on Delhi- Varanasi route began operations in Feb this year.
App for consumer grievances
 The govt has launched an App that would help consumers register their grievances online as well as give
suggestions on consumer-related issues.
 Consumer App, available for both IOS and Android users, can be downloaded free of cost from Play Store or
Apple Store, was launched by Consumer Affairs Minister Ram Vilas Paswan.
Sewa Service trains
 The Indian railways on 15 Oct started nine Sewa Service trains to connect small towns with their closest major
cities. It will ease the hassle of travelling for daily passengers.
 These trains will run between Delhi and Shamli, Bhubaneswar and Nayagarh Town, Murkongselek and
Dibrugarh, Kota and Jhalawar City and Coimbatore and Palani as a daily passenger train.
Govt notifies interest rate
 The govt on 18 Sep approved 8.65 per cent interest rate on employees provident fund (EPF) for 2018-19, which
will now be credited into the accounts of over 60 million subscribers of retirement fund body Employees'
Provident Fund Organisation (EPFO).
 The EPFO has been settling EPF withdrawal claims at 8.55% interest rate, approved for 2017-18.
 Now, the EPFO will settle accounts on higher rate of 8.65% for 2018-19.

 The Labour Minister Santosh Gangwar had said that the Labour Ministry will soon notify rate of interest on EPF
for 2018-19 as the Finance Ministry does not disagree on this rate.
List of New Governors

State Governor
Nagaland RN Ravi
West Bengal Jagdeep Dhankhar
Uttar Pradesh Anandiben Patel
Madhya Pradesh Lal ji Tandon
Bihar Phagu Chauhan
Tripura Ramesh Bais
Chattisgarh Anusuiya Uikey
Andhra Pradesh Biswa Bushan Harichandan
Himachal Pradesh Kalraj Mishra
Gujarat Acharya Devvrat
Manipur PB Acharya (as an additional charge
during the absence, on leave, of Dr
Najma Heptulla)
STATE News
‘Dhanu Jatra’ in Odisha
 The famous 11-day long ‘Dhanu Jatra’ was celebrated at Bargarh in western Odisha on 31 Dec.
 The Jatra was based on the mythological story of Lord Krishna and his demon uncle King Kansa.
 It is about the episode of Krishna and Balaram’s visit to Mathura to witness the Dhanu ceremony organized by
their (maternal) uncle King Kansa.
 Dhanu Jatra is the annual drama-based open-air theatrical performance celebrated in and around Bargarh city is
considered to be the world’s largest open-air theatrical festival that finds a mention in the Guinness Book of
World Records.
 The play starts with the dethroning of the emperor Ugrasena by the angry prince Kansa, over the marriage of his
sister Devaki with Basudeba, and ends with the death of Kansa, and Ugrasen restoring back to become the king.
Mandu festival in MP
 In Madhya Pradesh, the five-day Mandu festival was held in Mandu, a world-famous picturesque tourist
destination located in Dhar district of the state.
 The Mandu festival, which ran till Jan 1, saw the amalgamation of cultural activities as well as adventure sports.
 The rich classical and traditional folk arts of dance, singing and playing once again came alive through the Mandu
festival.
Turtle rehab centre in Bihar
 A first-of-its-kind rehabilitation centre for freshwater turtles will be inaugurated in Bihar’s Bhagalpur forest
division in Jan 2020.
 The rehab centre, spread over half a hectare, will be able to shelter 500 turtles at a time.
 The need to build such a centre was felt after several turtles were found severely wounded and sick when rescued
from smuggles by rescue teams.
Crocodile population rises
 The number of crocodiles in Bhitarkanika National Park in Odisha’s Kendrapara district has increased as per
the findings of the latest headcount of the reptiles.
 At least 1,757 salt-water crocodiles including albino species were counted this year along the water-bodies of
Mahanadi deltaic region while the census figure recorded last year stood at 1,742.
Plan to boost agri export
 Eight states have finalised their action plan to set up agri-product clusters to boost agriculture export, working in
line with the Central govt’s plan to double export and farmer’s income as well.
 Maharashtra, Uttar Pradesh, Kerala, Nagaland, Tamil Nadu, Assam, Punjab, and Karnataka have finalised the
state action plan while others are at different stages of finalisation of the action plan, as per the Agricultural and
Processed Food Products Export Development Authority (APEDA).
YSR Nethanna Nestham
 Keeping his promise made to the handloom weavers during his 3,648 km Praja Sankalpa Yatra, Chief Minister
YS Jagan Mohan Reddy launched the YSR Nethanna Nestham scheme.
 The scheme will benefit 85,000 handloom weaver families in the State. Under the scheme, Rs 24,000 will be
credited directly into the bank accounts of the weavers having own looms every year.
Mizoram organises Zo fest
 The Mizoram govt organised Zo Kutpui festival in 10 states across India and countries such as US, Myanmar and
Bangladesh.
 The first edition of the festival started on Jan 9 in Vanghmun in Tripura and was held over three days.
 The festival then moved to other states which have significant Mizo population.
 The move was an attempt to unify and strengthen the brotherhood among various Mizo tribes living in different
parts of the world. Chief Minister Zoramthanga graced the event at Vanghmun.
Pune hosts APDRC5
 Scientists from across the world who use the common fruitfly Drosophila as a model organism to address basic
and applied questions in life sciences, participated in the 5th Asia Pacific Drosophila Research Conference
(APDRC5) and Indian Drosophila Research Conference in the city.
 Two Nobel laureates, Eric Wieschaus and Michael Rosbash, renowned for their work in development biology and
chronobiology respectively, were among the 100 international and 330 Indian participants in this five-day
conference.
‘Amma Vodi’ Scheme in AP
 The Andhra Pradesh govt launched the ‘Amma Vodi’ scheme.
 Mothers and guardians of school-going children from lower income groups will get financial assistance of Rs
15,000 annually under the scheme.
 Amma Vodi translates to ‘mother’s lap’ in Telugu. The scheme will be implemented from Jan 26, 2020.
Special Officers for Disha
 The Andhra Pradesh govt appointed Indian Administrative Service (IAS) official Dr Kritika Shukla and Indian
Police Service (IPS) official M Deepika, as Special Officers for implementing the Andhra Pradesh Disha Act
2019.
 The Act is intended for speedy trial and faster execution in cases of sexual offences against women in the state.
 The AP Disha Bill prescribes life imprisonment for other sexual offences against children and includes Section
354 F and 354 G in IPC.
Resolution against CAA
 Kerala became the first state to pass a resolution against the Citizenship Amendment Act amid widespread
protests across the country.

 The resolution, which was moved by Chief Minister Pinarayi Vijayan and asks the centre to revoke the new
citizenship law, was supported by leaders across party lines except the lone BJP MLA - O Rajagopal.
KVIC opens first silk plant
 Khadi and Village Industries Commission (KVIC) on 3 Jan inaugurated the first silk processing plant at
Surendranagar in Gujarat.
 This would help cut down the cost of production of silk yarn drastically and increase the sale and availability of
raw material for Gujarati ‘Patola’ sarees locally.
 The plant has been set up by a khadi institution at a cost of Rs 75 lakh, in which KVIC has contributed Rs 60
lakh.
‘Cyber Safe Women’ initiative
 Maharashtra Govt has launched a ‘Cyber Safe Women’ initiative under which awareness camps will be held
across all the districts of the state regarding cyber safety.
 Chief Minister Uddhav Thackeray has said the initiative will help in educating women about how the web is
used by anti-social elements and child predators to commit various types of crimes.
Second tallest Patel statue
 Gujarat Chief Minister Vijay Rupani on 3 Jan unveiled the second tallest statue of Sardar Vallabhbhai Patel in
the world at Ahmedabad.
 50 feet tall bronze statue with the weight of 70 thousand kilograms was unveiled at the Sardardham campus near
Vaishnodevi circle in Ahmedabad.
‘Lai Haraoba’ festival in Tripura
 In Tripura, Lai Haraoba, a ritualistic festival observed by Manipuri meitei communities since ancient times, was
held recently.
 The five day long festival was jointly organised by Department of Information and Cultural Affairs, Govt of
Tripura, Puthiba Lai Haraoba Committee and Puthiba Welfare & Cultural Society, Agartala.
 Lai Haraoba is celebrated through oral literature, music, dance and rituals.
Buxa Bird Festival
 The fourth ‘Buxa Bird Festival’ was held in Buxa National Park in West Bengal’s Alipurduar district.
 Over 50 birdwatchers from across the country and abroad were registered for the 2020 edition of the four-day
festival. More than 300 rare species including the Great Hornbill, Sultan Tit and Greater Spotted Eagle visit the
national park during this period.
Third edition of ‘Sukanya’
 Kolkata Police started the third edition of its ‘Sukanya’ project to provide girls studying in schools and colleges
in the city with self-defence training.
 The third batch of ‘Sukanya’ started at 100 city-based schools and colleges situated in Kolkata Police jurisdiction.
 Girl students of VIII, IX, XI and girls studying in the first year at educational institutions in this area were part of
it.
J&K registers highest IPD
 Jammu and Kashmir has registered the highest Inpatient Department (IPD) care in the country.
 According to the state-wise fact sheets released by National Health Systems Resource Centre (NHSRC), New
Delhi, overall all women in J&K are availing Antenatal Care (ANC) services.
 As per the report, the 96 per cent IPD care in rural areas of J&K is provided by Public Health Facilities which is
highest against the country’s average of 85 per cent.
 In 2016, Jammu and Kashmir had surpassed Kerala as the state with the highest life expectancy in India for all
ages, barring life expectancy at birth.
Chariot festival of TN
 The famous chariot festival of the Suchindram Thanumalayan Temple, the southern most major temple in
Tamilnadu, was held with great camaraderie and devotion.
 Thousands congregated in the sprawling temple premises to join in the pulling of the chariot.
 The ten-day annual festival is held in the Tamil month falling in Dec - Jan.
 The temple is especially significant because it is sacred to both the Shaivite as well as Vashnavite sects.
 This 17th-century temple is famous for its architectural grandeur.
Project to transform IWT
 Govt of Assam launched a project for transformation of the Inland Water Transport (IWT) system on the
National Waterways in the state of Assam.
 The project will develop an efficient river transport system which would be safe, secure and comfortable for the
large volume of passenger and cargo carried by vessels by IWT as well as by private boat owners and operators.
‘Parshuram Kund Mela’ in AP
 In Arunachal Pradesh, the famous Parshuram Kund Mela was held recently.
 Devotees from across the country visited the sacred place to take a holy dip in the Kund on the occasion of Makar
Sankranti every year.
 Parshuram Kund, nestled in the lower reaches of Lohit River is of great significance for the Hindus.
 The legendary beheading of his mother by Lord Parshuram and eventual penance followed by taking a bath in the
so-called Brahma Kund, has added religious significance to this place.
Three capitals in AP
 The YS Jagan Mohan Reddy govt introduced a Bill in the Andhra Pradesh Legislative Assembly to give shape to
its plan of having three capitals for the state, with the executive capital in Visakhapatnam, Legislative capital in
Amaravati and judicial capital in Kurnool.
Mizoram celebrates Chapchar kut
 Mizoram celebrated Chapchar Kut, the biggest and most important festival of the Mizos, on Mar 6.
 “Promotion of Mizos' culture and moral code” was chosen as the theme for this year Chapchar Kut.
 The festival was celebrated with cultural fervour and gaiety in all parts of the state.
Eight Wonders of SCO
 The 182-metre-tall Statue of Unity in Gujarat was included in the Shanghai Cooperation Organisation’s ‘8
Wonders of SCO’ list recently.
 The ‘Statue of Unity’, the world’s tallest statue, is a monumental tribute to Sardar Vallabhbhai Patel, independent
India’s first home minister as well as deputy prime minister.
 The statue was inaugurated in Oct 2018 by Prime Minister Narendra Modi on the occasion of Patel’s 143rd birth
anniversary.
People centric projects launched in Gujarat
 Union Home Minister Amit Shah inaugurated various people centric projects of Gujarat Police and Indian Postal
Department at Mahatma Mandir in Gandhinagar.
 The two projects VISWAS and AASHVAST launched by the govt will play a key role in preventing crimes in
the state.
Old Currency Building dedicated to Kolkata:
 During his recent visit to the city Prime Minister Narendra Modi dedicated Old Currency Building, Metcalfe
House, Belvedere House and Victoria Memorial Hall to the nation.
 The buildings were renovated by Ministry of Culture.
C'garh declares new tiger reserve
 The Chhattisgarh govt has decided to declare Guru Ghasidas National Park in the state's Korea district as a
tiger reserve.
 The decision was taken at a meeting of Chhattisgarh State Wildlife Board chaired by Chief Minister Bhupesh
Baghel.
 Presently the state has three tiger reserves, namely Indravati in Bijapur district, Udanti-Sitanadi in Gariaband and
Achanakmar in Bilaspur.
BJP sweeps Karnataka bypolls
 The ruling Bharatiya Janata Party (BJP) swept the Karnataka assembly bypolls on 9 Dec, winning 12 of 15
seats.

 Chief Minister BS Yediyurappa's govt formed with a narrow majority needed only seven seats for a majority but
won five extra at the cost of the Congress and JDS.
UP tops PM Kisan scheme
 Uttar Pradesh has topped the Centre’s flagship PM Kisan scheme with total payout of more than Rs 10,000 cr to
the beneficiary farmers.
 Since, nearly Rs 36,000 cr have so far been transferred to farmers’ bank accounts pan India under the scheme, the
payment of Rs 10,000 cr in UP accounts for nearly 28 per cent of disbursal.
Rhinos to be back in U’khand
 The Uttarakhand State Wildlife Board has cleared a proposal by the Wildlife Institute of India (WII) to
introduce rhinoceroses in the Corbett Tiger Reserve (CTR) to boost tourism and revive the habits of species that
survive on low-height grass.
 Around 10 rhinos will be brought in CTR in the first phase and subsequently, 10 more would be added.
 A proposal will be sent to the Cente soon in this regard to transport rhinos from either Assam or West Bengal or
both. The capture and translocation are likely to cost about Rs 15 lakh per individual animal.
Kerala funds NHAI
 The Kerala Infrastructure Investment Fund Board (KIIFB), the infrastructure funding arm of the Kerala govt,
has disbursed Rs 390 cr as the first instalment of a Rs 5,200-cr grant to the National Highways Authority of
India (NHAI) to part finance the four/six-laning of some 565 km of national highways in the state.
 This model could also be used by NHAI with other state govts to part-fund the massive highway development
programme, to lighten its burden amidst a squeeze in bank funding for infrastructure projects.
20th Edition of Hornbill Festival
 The much-awaited festival, the Hornbill Festival was celebrated with a colourful blend of culture and tradition
with a modern twist at Naga Heritage Kisama in Nagaland. This was the 20th edition of Hornbill Festival.
 The festival organised by Nagaland Govt is an annual tourism promotional event to showcase the state’s
traditional and rich cultural heritage in all its ethnicity, diversity and grandeur.
 The 10 Days Hornbill Festival began with the traditional blessing pronounced by Mongtei of Aniashu village
while the Chief host and Host opened the festival by beating the traditional gong.
 Nagaland Governor RN Ravi was the chief host of the festival, while Chief Minister Neiphiu Rio was the host.
CM inaugurates ICCC
 Haryana Chief Minister Manohar Lal Khattar had inaugurated Gurgaon's ambitious Integrated Command
and Control Centre (ICCC).
 It has been developed as the nerve centre to provide multifaceted online smart services to people.
 Khattar inaugurated the millennium city's ICCC in presence of Union Minister of State for Statistics and
Programme Implementation Rao Inderjit Singh.
 The Integrated Command and Control Centre was built at the cost of Rs 38 cr.
Mission Indradhanush 2.0
 Centre launched nationwide vaccination drive to prevent eight diseases under Intensified Mission
Indradhanush 2.0 across the country on 2 Dec.
 The govt's flagship scheme is aimed at immunizing children under the age of 2 years and pregnant women against
eight vaccine preventable diseases.
 The IMI covers vaccines for diphtheria, whooping cough, tetanus, poliomyelitis, tuberculosis, measles,
meningitis and Hepatitis B. Vaccines for Japanese encephalitis and hemophilus influenza are also being provided
in selected areas.
 The IMI 2.0 aims to achieve targets of full immunization coverage in 272 districts spread over 27 States.
 The IMI 2.0 will be carried out between Dec 2019 and Mar 2020.
Anti-Depredation squads
 The Assam govt has set up 15 Anti-Depredation Squads of the Forest department to deal with human-wildlife
conflicts in the state.

 The anti-depredation squads will be stationed in 15 major human-wildlife conflict districts of the state to deal with
the problem and ensure the safety of both humans and animals.
Best police station in Country
 Aberdeen Police station in the Andaman and Nicobar Islands ranks first in the list of the best-performing
police stations in the country while dealing with a property offence, a crime against women and weaker sections.
 Home Ministry released the list of ten best-performing Police stations in the country.
 Balasinor police station in Gujarat secured the second rank while and Ajk Burhanpur in Madhya Pradesh got the
third position.
Expressway in the name of Balasaheb
 The Maha Vikas Aghadi (MVA) govt in Maharashtra decided to name the upcoming Nagpur-Mumbai Super
Communication Expressway (NMSCE) after the Shiv Sena founder-patriarch late Balasaheb Thackeray.
 The decision was taken at the cabinet meeting, presided over by Chief Minister Uddhav Thackeray, on a
proposal by Minister Eknath Shinde for the christening of the Rs 55,335-cr mega project, also known as Nagpur-
Mumbai Samruddhi Mahamarg.
Nagaland extends ILP to Dimapur
 The Nagaland govt extended the Inner Line Permit (ILP) system to Dimapur, the commercial hub of the State.
 The decision makes it mandatory for “every non-indigenous person” who entered the district after Nov 21, 1979,
to obtain an ILP within 90 days.
 Nagaland, Arunachal Pradesh and Mizoram, protected by the ILP requirement, have been exempted from the
provisions of the CAB along with the whole of Meghalaya, Mizoram and the tribal areas of Tripura and Assam as
covered in the Sixth Schedule of the Constitution.
Haryana Police’s Trakea software
 Haryana Police has adopted a unique barcoding software — Trakea — to ensure that thousands of forensic
reports that form the backbone of the criminal investigation system and subsequent trials in the courts of law, are
not tampered with.
 Haryana Police claims it is the country’s first police force to have introduced this unique barcoding for forensic
reports. The software was originally designed by a prisoner who was lodged in Bhondsi jail for 13 months.
'President's Colours' to Guj Police
 The Gujarat Police, on Dec 15, became the seventh state police force in the country to be bestowed with the
honour of the President’s Colours, after Madhya Pradesh, Uttar Pradesh, Delhi, Jammu and Kashmir, Tripura and
Assam. President's Colours, also called as 'Nishaan', an emblem which all police officers of Gujarat would wear
on the left-hand sleeve of their uniform.
 The President's Colour is the highest honour bestowed upon a police force in recognition of their invaluable
contribution to society.
 Vice-President M Venkaiah Naidu presented the 'President's Colours' to the Gujarat police at a ceremony on Dec
15.
AP brings Disha Bill
 The Andhra Pradesh Legislative Assembly on 13 Dec passed the Andhra Pradesh Disha Bill, 2019 (Andhra
Pradesh Criminal Law (Amendment) Act 2019).
 The bill provides for awarding death sentence for offences of rape and gangrape and expediting trials of such
cases to within 21 days.
 The Act envisages the completion of investigation in seven days and trial in 14 working days, where there is
adequate conclusive evidence, and reducing the total judgment time to 21 days from the existing four months.
 The AP Disha Act also prescribes life imprisonment for other sexual offences against children and includes
Section 354 F and 354 G in IPC.
Sangai Festival 2019
 In Manipur, week-long Manipur Sangai Festival 2019 was celebrated.
 The festival was organized by the State Tourism Department and is the biggest festival held annually to promote
tourism. The formal inaugural function of the festival was held at Hapta Kangjeibung at Imphal.
 Manipur Chief Minister, N Biren Singh attended the inaugural function as Chief Guest.
Odisha launches 'Jalsathi' programme
 Odisha Chief Minister Naveen Patnaik on 18 Dec launched the 'Jalsathi' programme which will ensure supply of
safe drinking water to all households in the state.
 While launching the programme, Patnaik paid Rs 593 to clear water cess dues of Naveen Niwas, the residence of
the chief minister.
 Patnaik also distributed water quality testing kits and POS (point of sale) machines to the women volunteers -
'Jalasathis'.
Campaign against Filaria
 Uttar Pradesh govt launched a massive immunisation campaign against the filariasis or Filaria from 25 Nov.
 Central govt has set year 2021 as the deadline for complete eradication of filaria in country. Under this campaign
more than 65 thousand teams of health workers distributed medicines to around 6.5 cr people till 10 Dec in 19
districts.
Human Library in Mysuru
 In Karnataka, Human Library, a concept which seeks to replace books with humans, was held in the City of
Palaces.
 In a statement, Ms K Pavithra, founder of Human Library, Mysuru Chapter said, the first event of Human Library
aims to break past long-standing prejudices and stereotypes by creating a safe framework for conservation by
using a library analogy of lending people rather than books.
 Copenhagen, Denmark-headquartered Human Library is a registered international non-profit organization.
World Design Protopolis in Bengaluru
 The World Design Organization (WDO) is all set to launch its new global programme World Design Protopolis
in the city, aimed at implementing holistic progress in mega cities across the world and making them sustainable.
 The announcement was made at the three-day Kochi Design Week (KDW), India’s largest design conclave held at
Bolgatty Island.
 Bengaluru was selected as the first ever city in the world to implement this project, which is exclusively for big
cities. The project aims to measure the progress of the city, attract investments and solve the problems so that the
city becomes a better place for the citizens.
IRIFM in Hyderabad
 The Indian Railway Institute of Financial Management (IRIFM) has been set up in the city.
 The new entity, set up to impart professional training in management of railway finances, was formally
inaugurated by Vinod Kumar Yadav, Chairman, Railway Board, on a 14-acre campus at Moula-Ali,
Secunderabad.
Dwarka’s Bharat Vandana Park in New Delhi
 The foundation stone for Dwarka’s Bharat Vandana Park, spread over an area of 200 acres in Sector 20, was
laid recently.
 The space will consist of a recreational area, a conservatory, a fun park, an eco-trail, an adventure park and a lake
view restaurant. The DDA intends to complete the project by Mar 2022.
Ram Nath Kovind:
 The honourable President of India arrived at the Rastrapathi Nilayam, at Bollaram in Secunderabad on his
annual southern sojourn. The president’s office will be functioning from the Rastrapathi Nilayam during his visit.
Univ gets A-plus grade
 The Indore-based Devi Ahilya University has added another feather in its cap by becoming Madhya Pradesh's
first varsity to be accorded A-plus grade by the National Assessment and Accreditation Council (NAAC).
 The Centre of higher learning now became entitled to several other facilities.
Vulture conservation centre
 In a major step to conserve the endangered vulture population, the Uttar Pradesh govt will set up state's first
vulture conservation and breeding centre in farenda area of Maharajganj district.

 Environment Minister had recently told the Parliament that there has been a sharp decline in the population of
vultures in the country which has come down from 40 mn to 19,000 in a span of over three decades.
 States' first vulture conservation and breeding centre of its kind will be set up on the lines of Jatayu
Conservation Breeding Centre at Pinjore in Haryana, which is also the first in the country. In Aug, more than
100 vultures were sighted near the site where the centre will be established.
Etawah Lion Safari opens
 Uttar Pradesh added another destination for wildlife lovers as the Etawah Lion Safari was thrown open for
public recently.
 While visitors will be allowed to track wildlife at the centre but they will have to wait to take a Lion safari as the
Central Zoo Authority (CZA) is yet to give its nod.
 CZA is awaiting the fulfilment of laid norms which says a safari must have at least 10 cubs to open it for the
public. Currently, Etawah Lion Safari has 18 lions but only six cubs.
 It has the distinction of being the only lion breeding centre in the country with research facilities on Asiatic lions.
Gotabaya Rajapaksa visited India
 The President of Sri Lanka visited New Delhi recently on a three-day state visit.
 This was his first official visit abroad after assuming office.
Antonio Costa visited India
 Prime Minister of Portugal came to New Delhi on a two-day visit recently.
 He attended the second meeting of the Organising Committee on the celebrations for the 150th Birth anniversary
of Mahatma Gandhi. This was the third official meeting between the two leaders in a span of 3 years.
Carl XVI Gustaf visited India
 The Swedish King and Queen Silvia arrived in Delhi for a five-day visit to the country.
 The visit took place at the invitation of President Ram Nath Kovind.
 This is the Swedish King's third visit to India, the earlier visits being in 1993 and 2005.
NCLAT ordered Cyrus Mistry reinstatement
 The National Company Law Appellate Tribunal (NCLAT) ordered his reinstatement as the Executive
Chairman of Tata Sons, a post from which he was ousted following a boardroom coup in 2016.
 The NCLAT also held the appointment of former Tata Consultancy Services (TCS) head, N Chandrasekaran, as
Executive Chairman “illegal”.
Government renames tunnel
 The Centre announced that the Chenani-Nashri tunnel will now be known as Dr Shyama Prasad Mookerjee
tunnel. The 9.2 km long tunnel in Jammu and Kashmir was inaugurated in 2017 by PM Narendra Modi.
 Built at a cost of Rs 2,600 cr, the tunnel reduces the distance between Jammu and Srinagar by 30 km.
 The tunnel has been built on international standard and parameters and also has an escape tunnel.
 The government plans to spend around Rs 60,000 cr to build infrastructure in Jammu and Kashmir.
 The govt also plans to resume work on Zojila tunnel.
Tawang Festival in AP
 In Arunachal Pradesh, the 7th edition of the Tawang Festival began on 28 Oct with much fanfare and fervour in
Tawang. United States’ Ambassador to India Kenneth Juster declared the Festival open.
 Chief Minister Pema Khandu on the occasion said that Arunachal Pradesh has huge potential in form of natural
resources.
Sisseri Bridge in AP
 Defence Minister Rajnath Singh on 15 Nov inaugurated Sisseri Bridge, built by the Border Road Organisation
(BRO) on Pasighat-Bomjir Highway.
 The 200-metre long bridge between Jonai-Pasighat-Ranaghat-Roing road will provide connectivity between
Dibang Valley and Siang to meet the long-pending demand of the people of Arunachal Pradesh as it would cut
down the travel time from Pasighat to Roing by about five hours.

 The Govt has adopted the Border Area Development Programme (BADP) in its plan keeping in view security
of the people residing in the border areas.
‘Mission Talent Hunt’ in Assam
 The Assam Olympic Association (AOA) will launch a new programme called ‘Grassroot Olympic - Mission
Talent Hunt’ to identify the sports talent in the state and groom them, Assam chief minister Sarbananda
Sonowal said on 18 Nov.
 Khelo India Youth Games are scheduled to be held in Assam during Jan 10-22, 2020.
Haryana creates new dept
 Haryana Govt has decided to create a dedicated new department namely Department of ‘Foreign Cooperation’
in order to streamline and provide focus to various initiatives taken by the state govt for the promotion of
investment, employment for youth and welfare of Non-Resident Indians.
 A decision to this effect was taken in the meeting of State Cabinet which met under the Chairmanship of Chief
Minister Manohar Lal at Chandigarh.
Ladakh gets new regional centre
 Realizing the importance of the Indian Himalayan region and recognizing the need to study its ecology, Union
Minister for Environment, Forest and Climate Change, Prakash Javadekar approved the proposal of setting-up
of a New Regional Centre of the GB Pant Institute of Himalayan Environment & Development at Ladakh.
Old trade centre found in AP
 Excavation by the Archaeological Survey of India (ASI) in Gottiprolu, Andhra Pradesh has unearthed a trade
centre of early historic period.
 The team found a 2000-year-old brick structure and a Vishnu sculpture at the site.
 Among many other antiquities unearthed are one life size Vishnu sculpture and a wide variety of pottery of the
early centuries of current era.
Scheme for students in Nagaland
 Nagaland Govt on 30 Oct launched the Nagaland Ex-gratia Scheme for Students studying outside Nagaland
and belonging to any recognized scheduled tribes and indigenous inhabitants of the state.
 The scheme is targeted for students who die outside the state while pursuing secular, technical, professional,
diploma and theology courses.
 A Corpus Fund of five cr Rupees will be kept in a fixed deposit and the interest accruing from the deposit will be
utilized for payment of ex-gratia amounting to five lakh rupees to the nominee of the deceased students.
Foundation Day of Uttarakhand
 Uttarakhand celebrated its Foundation Day on 9 Nov. It became a State of the Union, after separation from Uttar
Pradesh.
 Police Parade, Marathons, and cultural programmes were organized across the 13 districts of the state.
 Chief Minister Trivendra Singh Rawat flagged off Cultural Procession in the state capital.
National Mission ‘NISHTHA’
 National Initiative for School Heads’ and Teachers’ Holistic Advancement (NISHTHA) was launched in the
Union Territory of Jammu and Kashmir.
 NISHTHA is a National Mission aimed at improving learning outcomes at Elementary level through integrated
Teacher Trainings.
UP launches e-Ganna app
 Uttar Pradesh govt has launched a dedicated web portal and a mobile application, e-Ganna App, for sugarcane
farmers of the state. Cane supply slip will now be issued to the farmers by sugar mills online.
WB celebrates ‘Rosogolla Divas’
 Rosogolla Divas was celebrated with great enthusiasm in Kolkata on 14 Nov to mark the second anniversary of
West Bengal winning the Geographical Indication (GI) tag for the sweet dish in a bitter sweet battle with
neighbouring Odisha.
 Two states might fight with one another over an issue but one thing that is very clear is Nobin Chandra Das was
the first person to introduce rosogolla to the entire world.
 In Nov 2017, the Geographical Indications Registry headquartered in Chennai gave the Geographical
Indications (GI) status to Bengal for rosogolla, ending months of arguments submitted by both Odisha and West
Bengal to claim rights to the sweetmeat.
Cherry Blossom Festival
 We have all heard about Cherry Blossom Festival of Japan, but there is a Cherry Blossom Shillong edition as
well. This year (2019), Shillong celebrated 4th India International Cherry Blossom Festival, and showcased
this unique autumnal flower.
 The was held in Shillong, Meghalaya, from Nov 13 to Nov 16, 2019. Besides the beautiful flowers, you can also
be a part of a bunch of other events.
GI Tag for Darjeeling tea
 Darjeeling Tea Association on 16 Nov said green and white tea of the hills have been registered as geographical
indication (GI) products in the country.
 These two varieties of Darjeeling tea have been registered under Geographical Indications of Goods (Registration
and Protection) Act 1999, with effect from Oct 2019.
 The Tea Board had filed an application in this regard on Dec 2017.
New UTs come into existence
 In a historic move, two union Territories of Jammu & Kashnir and Ladakh came into existence on 31 Oct on
the birth anniversary of the Iron man of India, Sardar Patel.
 Radha Krishna Mathur was sworn in as the first Lieutenant Governor of newly carved UT of Ladakh.
 He was administered oath of office by the Chief Justice of J&K High Court Gita Mittal. Girish Chand Murmu
took over as first Lieutenant Governor of UT of Jammu & Kashmir.
 Under the provision, Union Territory of Jammu & Kashmir will have an elected assembly and Chief minister on
the lines of Puducherry.
 Ladakh will be a UT on the lines of Andaman and Nicobar, directly governed by Lieutenant Governor.
 The Legislative Council of the state of Jammu and Kashmir has been abolished.
Odisha unveils ‘Tikki Mausi’
 With an aim to spread awareness about child and woman’s nutrition, Women and Child Development and
Mission Shakti Department in collaboration with the United Nations International Children’s Emergency
Fund (UNICEF) unveiled a mascot named ‘Tikki Mausi’ on 26 Sep.
 The mascot -- Tikki Mausi -- will change the behaviour of common people and make them aware about child and
woman’s nutrition and development in every household.
 The mascot has been named as ‘Tikki Mausi’ in reference to the second mother of a child.
Raja Bhoj metro in Bhopal
 Madhya Pradesh Chief Minister Kamal Nath announced on 26 Sep that the metro rail in Bhopal will be named for
Raja Bhoj, an 11th century ruler.
 Laying the foundation stone of the Rs 6,941.4 project, Nath said that normally such project is named after the city,
but the metro in Bhopal will be called ‘Bhoj Metro Rail’.
YSR Vahana Mitra scheme
 Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on 4 Oct launched the YSR Vahana Mitra scheme
which provides Rs 10,000 allowance to self-employed drivers of autos, taxis and maxi cabs.
 The allowance of Rs 10,000 would be given every year and the amount will be credited into the bank accounts
directly while the processing will be done in a transparent manner.
HDFC Bank’s ‘Pragati Rath’
 Pragati Rath of the HDFC Bank to provide financial and digital literacy to the people during a month-long
initiative by moving to different parts of Himachal Pradesh was launched by Chief Minister Jai Ram Thakur.
 HDFC Bank provided a cheque of Rs 1 cr to the Chief Minister towards the Chief Minister’s Relief Fund on the
occasion. The present state govt during the last about 20 months has provided financial assistance of Rs 30 cr to
the poor and needy.
Tripura gets first SEZ
 After Tripura Chief Minister Biplab Kumar Deb announced the setting up of state’s first-ever Special Economic
Zone (SEZ) at Sabroom, it got approved by the Central govt on 4 Oct.
 Sabroom in South Tripura is 130 km away from Agartala. It takes at least 25 acres of land to set up a SEZ as per
guidelines. Initiatives were taken for acquiring 10.99 hectares additional land adjacent to the identified plot.
Mizoram to have broad gauge
 Union Home Minister Amit Shah on 5 Oct said that Mizoram’s capital Aizawl will be connected through broad
gauge railway line by 2021.
National Sports University
 The state-owned construction firm National Buildings Construction Corporation (NBCC) has bagged a Rs
400-cr contract to develop National Sports University at Imphal, Manipur.
 Prime Minister Narendra Modi has laid foundation stone for National Sports University on 16 Mar 2018.
 India already has some state universities focusing on sports education named Tamil Nadu Physical Education and
Sports University, Swarnim Gujarat Sports University, Punjab Sports University etc and a deemed university
named Lakshmibai National Institute of Physical Education.
National Cultural Festival
 In Madhya Pradesh, the 10th edition of the Rashtriya Sanskriti Mahotsav-National Cultural Festival was
organized by the Union Ministry of Culture under the ‘Ek Bharat, Shreshtha Bharat’ campaign.
 Governor Lalji Tandon and Union Minister of State for Culture and Tourism Prahlad Singh Patel were present
at the inaugural ceremony of the Festival held in Jabalpur.
Shirui Lily Festival
 Union Minister of State (Independent Charge) for Tourism and Culture Prahlad Singh Patel on 16 Oct
inaugurated Shirui Lily Festival, 2019 at Shirui Vangayan Ground of Ukhrul in Manipur.
 Such cultural events reflect the beauty and treasure of the state’s culture.
Special drive in J&K
 In Jammu and Kashmir, a special mobilization drive shall be undertaken by the govt for enrolment of eligible
traders, shopkeepers and self-employed persons under Pradhan Mantri Laghu Vyapari Maan Dhan Yojana
(PM-LVMY) in the state.
 The Yojana will be implemented by Life Insurance Corporation of India Limited through its wide network of
branch offices and agents. Around 3.50 lakh Common Service Centres (CSCs) will be responsible for the
enrolment of the beneficiaries under the scheme.
Five new schemes in Ch’garh
 To make 150th birth anniversary of Mahatma Gandhi memorable, Chhattisgarh govt is all set to launch five new
schemes to provide better nutrition and health to people of the state.
 These are Mukhyamantri Suposhan Abhiyan, Chief Minister Haat-bazaar Clinic Scheme, Chief Minister Urban
Slum Health Scheme, Universal PDS Scheme and Chief Minister Ward Office Scheme.
 Suposhan Abhiyan aims to eradicate malnutrition and anemia from the state within three years.
 According to National Family Health Survey, presently 37.6% children of age below five years in Chhattisgarh
are suffering from malnutrition, and 41.5% females of age group 15-49 years are suffering from anemia.
Kanyashree University in WB
 Aiming to empower girls, the West Bengal govt has taken the initiative to set up a Kanyashree University in
Nadia district and Kanyashree colleges across the state, Chief Minister Mamata Banerjee has announced.
 Banerjee had laid the foundation stone of the new university at Krishnagar in Nadia district in Jan.
 The Kanyashree University would be only for women. The main objective of the scheme is to ensure that girls
study in schools and delay their marriages until the age of 18 years.
Centre abolishes legislative council
 Once dominating the news for setting debates and settling sticky discourses for 70 years, 0074he Jammu &
Kashmir Legislative Council, the upper house of the Assembly, was abolished on 17 Oct as per Section 57 of the
J&K Reorganisation Bill, 2019, which reduced the State to the Union Territories of J&K and Ladakh.

 The Council, which had a strength of 36 members, also used to be a part of the electoral college for the Rajya
Sabha elections. The tenure of all 22 current Members of Legislative Council (MLCs) has also come to an end.
 J&K Reorganisation Bill 2019 was passed by the parliament in Aug. J&K and Ladakh will be a UT from Nov 1.
Karnataka tops Index
 Karnataka among major states, Delhi among Union Territories and Sikkim among hilly states have topped the
ranking in NITI Aayog’s first ever India Innovation Index aimed at examining the innovation capabilities and
performance of Indian states.
 The index attempts to create an extensive framework for the continual evaluation of the innovation environment
of 29 states and seven union territories.
Gujarat retains top position
 Gujarat retained the top position in water management, the NITI Aayog said, as it warned India will lose 6 per
cent of gross domestic product (GDP) by 2050 because of a water crisis, setting off alarm bells on an impending
water scarcity scenario. India’s demand for water will exceed supply by a factor of two by 2030, it said.
 Releasing the second edition of the Composite Water Management Index, the govt think tank said the annual
per capita availability of water is expected to reduce to 1,140 cubic metres by 2050, close to the official water
scarcity threshold of 1,000 cubic metres.
 Gujarat retained the top position on the Index for the third consecutive year with 75 points closely followed by
Andhra Pradesh with 74 points and Madhya Pradesh at 71 points among the non-Himalayan states. Uttar Pradesh,
Rajasthan, Kerala, and Delhi — four of the top 10 contributors to India’s economic output — have scores ranging
from 20 to 47 points.
International News
US exonerates China
 The Trump administration on 13 Jan revoked its designation of China as a currency manipulator ahead of the
signing of a “phase one” trade deal between the world’s two largest economies.
 The Treasury Department reversed an Aug decision to label China a currency manipulator in its semiannual foreign
exchange policy report released recently.
Russian govt resigns
 Russia’s govt has resigned, hours after President Vladimir Putin proposed sweeping constitutional changes that
could prolong his stay in power.
 If approved by the public, the proposals would transfer power from the presidency to parliament.
 Putin is due to step down in 2024 when his fourth term of office comes to an end. But there is speculation he could
seek a new role or hold on to power behind the scenes.
 Later, in an unexpected move, Prime Minister Dmitry Medvedev announced that the govt was resigning to help
facilitate the changes.
Yellow vest protesters return
 In France, police fired tear gas and arrested several people as thousands of yellow vest anti-govt protesters returned
to the streets of Paris. Demonstrators shouted slogans denouncing the police, President Emmanuel Macron and his
pension reforms that have triggered the longest French transport strike in decades.
 This was the latest of the weekly demonstrations held every Saturday by the yellow vest movement since Nov
2018. President Macron’s reforms aim to forge a single pensions system from the country’s 42 separate regimes.
Iran calls US forces ‘terrorists’
 Iran’s parliament unanimously passed a bill designating the United States’ forces as “terrorists” over the
assassination of top military commander Qassem Soleimani in an air attack in Iraq.
 Soleimani, the popular head of the Islamic Revolutionary Guard Corps’ (IRGC) foreign operations arm Quds
Force, was killed in a US drone attack outside Baghdad airport, ratcheting up tensions between the arch-foes.
Line of credit to Cuba
 India has extended a line of credit of USD 75mn (over `500cr) to Cuba for financing solar parks.
 An agreement signed between Export-Import Bank of India (Exim Bank) and Banco Exterior De Cuba in Jul
2019 came into effect from Dec 12. Banco Exterior De Cuba is a nominated agency of the Govt of Cuba.
Visit Nepal Year 2020
 President of Nepal Bidya Devi Bhandari launched the much-awaited Visit Nepal Year 2020 campaign amidst a
spectacular ceremony held at the historic Dasaratha Rangashala in Kathmandu.
 Chief Justice, National Assembly Chairman, former Prime Ministers and political party leaders from Nepal and
dignitaries from various countries including India’s Minister of State (Independent Charge) for Tourism and
Culture, Prahlad Singh Patel, also graced the occasion.
Palau bans sun cream
 The Pacific nation of Palau has become the first country to ban sun cream that is harmful to corals and sea life.
 From 1 Jan, sun cream that includes common ingredients, including oxybenzone, is not allowed to be worn or sold
in the country.
 Palau’s President Tommy Remengesau said: “We have to live and respect the environment because the
environment is the nest of life.” The island nation markets itself as a “pristine paradise” for divers.
UK passes Brexit deal
 Britain’s parliament finally approved Brexit on 9 Jan, allowing it to become the first country to leave the European
Union by the end of Jan, ending years of arguments that toppled two govts and divided a nation.
 The House of Commons erupted in cheers after MPs ratified Prime Minister Boris Johnson’s divorce deal with
Brussels 330 votes to 231, drawing a line under an extraordinary era of political drama and chaos.
Naval drill ‘Naseem-Al-Bahr’
 Two ships of the Royal Navy of Oman (RNO) arrived in Goa to participate in the 12th edition of the Indo-Oman
bilateral naval exercise ‘Naseem-Al-Bahr’.
 Naseem-Al-Bahr (or sea breeze) is a naval exercise between the Indian Navy and the RNO, being conducted since
1993. Indian Navy ships Beas and Subhadra participated in it, with harbour phase in Goa followed by sea phase off
the Goa coast.
Russia deploys Avangard
 Russia’s defence minister reported to President Vladimir Putin that a new hypersonic weapon of intercontinental
range became operational following years of tests.
 Defence Minister Sergei Shoigu informed Putin that the first missile unit equipped with the Avangard hypersonic
glide vehicle entered combat duty.
Ghosn flees to Lebanon
 Japan is pressing Lebanon to return fugitive ex-Nissan boss Carlos Ghosn, who escaped house arrest in Tokyo.
 Lebanon does not typically surrender its citizens but Japan says it can request his extradition. Ghosn walked out of
his house on 29 Dec 2019 before boarding a bullet train to Osaka.
 But, in the final days of 2019, he skipped bail to board a private jet that took him to Turkey before he travelled on
to Lebanon.
Multi-entry tourist visa
 The United Arab Emirates (UAE) Cabinet approved the issuance of a five-year multi-entry tourist visa for all
nationalities visiting the country.
 The decision was made during the Cabinet’s first meeting of 2020.
 The move comes in a bid to support the UAE’s tourism economy, and affirm the country’s position as a global
tourist destination. Ruler of Dubai Sheikh Mohammed bin Rashid announced this decision.
HuJI members sentenced
 A Dhaka court on 20 Jan sentenced ten members of the banned terror group Harkat-ul-Jihad al-Islami (HuJI) to
death in the case related to the 2001 attack on the Communist Party of Bangladesh rally.
 Four of the convicted persons are currently lodged in jail while the remaining six are absconding.
 Two accused were acquitted as the prosecution could not prove their involvement in the case.
 Earlier, another accused in the case, HuJI chief Mufti Hannan, was hanged in 2017 for grenade attack on British
High Commissioner to Bangladesh Anwar Choudhury in Sylhet in 2004.
Word of the decade
 The neutral pronoun “they” has been voted word of the decade by US language experts, beating out other
contenders that included “climate” and “meme”.
 “They” is used in English by a growing number of non-binary individuals, people who do not identify as either
male or female.
 They prefer the plural neutral pronoun to bypass the traditionally male “he” or female “she”.
 The recognition comes after US dictionary Merriam-Webster in Dec named “they” its word of the year.
 Tech giant Apple has added “neutral” emojis that don’t distinguish between gender to the latest version of its
operating system.
 The American Dialect Society had previously named “they” word of the year in 2015. They previously chose
“google” and “web” as words of the past two decades.
Year of Nurse and Midwife
 In the honour of the 200th birth anniversary of Florence Nightingale, the World Health Organization (WHO)
designated the year 2020 as the “Year of Nurse and Midwife”.
 This year, WHO is to focus on nursing and midwifery in order to achieve Universal Health Coverage.
 The organisation is leading the development of “World Nursing Report” that is to be launched in 2020. The report
is first of its kind.
 WHO is also a partner of The State of the World’s Midwifery Campaign. WHO is to launch the reports prior to its
73rd session which is to be held in Geneva between Feb 3 and 8, 2020.
 Florence Nightingale was an English social reformer born in 1820.
 She organised camps for wounded soldiers and also served as a manager of nurses during the Crimean War.
First biosimilar medicine
 The World Health Organization (WHO) prequalified its first biosimilar medicine – trastuzumab – in a move
that could make this expensive, life-saving treatment more affordable and available to women globally.
 Breast cancer is the most common form of cancer in women.
 2.1 mn women contracted breast cancer in 2018. 630 000 of them died from the disease, many because of late
diagnosis and lack of access to affordable treatment.
India’s support to Sri Lanka
 Prime Minister Narendra Modi announced that India is committed to partner Sri Lanka in its path to development.
 In a joint press statement after meeting Sri Lankan President Gotabaya Rajapaksa in New Delhi, Modi said,
India gives priority to its relations with Sri Lanka under its 'Neighbourhood First' policy.
 He announced 50 mn dollars line of credit to Sri Lanka to tackle terrorism.
 He also announced a new line of credit of 400 mn dollars to Sri Lanka to strengthen its economy.
Sudan dissolves Bashir party
 In Sudan, authorities have ordered that the party of ousted President Omar al-Bashir be dissolved and all its
properties be confiscated.
 Bashir and his Islamist National Congress Party had ruled the country since Jun 30, 1989 before a nationwide
protest movement resulted in him being deposed him earlier this year.
Australia declares emergency
 In Australia's New South Wales, authorities declared a seven-day state of emergency as a record heatwave fanned
unprecedented bushfires raging across the region.
 The New South Wales, Premier Gladys Berejiklian said the state of emergency was due to catastrophic weather
conditions.
WADA bans Russia

 The World Anti-Doping Agency (WADA) banned Russia for four years, from participation in global sporting
events, including the 2020 Tokyo Olympics and the 2022 Beijing Winter Olympics, after accusing Moscow of
falsifying data from an anti-doping laboratory.
 Russia's anti-doping agency can appeal the decision to the Court of Arbitration for Sport within 21 days.
India, Maldives to deepen ties
 India and the Maldives on 13 Dec vowed to boost anti-terror cooperation and expand their maritime security ties
to deal with common challenges in the Indian Ocean, a region where China has been rapidly expanding its
military presence.
 After talks between External Affairs Minister S Jaishankar and his Maldivian counterpart Abdulla Shahid, both
sides inked two pacts providing for cooperation in financial intelligence and election-related issues besides
exchanging an instrument of ratification for a treaty on mutual legal assistance in criminal matters.
Lahore-Wagah train service
 The shuttle train service between Lahore and Wagah railway station resumed operation on 15 Dec after a gap of
22 years. The train would complete three round trips daily and provide the travelling facility to over 1,000
passengers in three trips.
OPEC+ to cut oil production
 The Organization of the Petroleum Exporting Countries (OPEC) group of oil-producing countries and their
allies, including Russia, have decided to cut oil production by 500,000 barrels per day.
 In a meeting in Vienna, they agreed to reduce production to stem pressure on prices from abundant reserves and
weak global economic growth.
 The group, however, said, in addition, several countries, mainly Saudi Arabia, will continue their additional
voluntary contributions. It will lead to an overall production cut to 2.1 mn barrels per day.
Palestine-India technopark
 The Representative of India to Palestine, Sunil Kumar, released third tranche of funding, worth $3 mn, for the
construction of a Palestine-India Techno Park.
 In total, India has made a commitment of investing over $12 mn, part of India’s broader framework of capacity
building in Palestine. The Indian govt pays $3 mn on a half-yearly basis.
 In 2017, the park became a member of the International Association of Science Parks and Areas of
Innovation (IASP), a global network of science and technology parks.
 The park will be located next to the Birzeit University Academic Campus.
Donald Trump become third US President to be impeached
 He has become the third US President in history to be impeached by the House of Representatives, setting up a
trial in the Senate that will decide whether he remains in office.
 The House voted on two charges - that the President abused his power and that he had obstructed Congress.
 President Trump's Republicans control the Senate so it is highly unlikely he will be removed from power.
Japan most vulnerable
 India is the fifth most vulnerable of 181 countries to the effects of climate change, with its poorest being the
most at risk, according to a new report launched on Dec 4, 2019.
 Japan is the most vulnerable, followed by the Philippines, Germany, and Madagascar.
 India had the most (2,081) deaths in 2018 due to extreme weather events caused by climate change – cyclones,
heavy rainfall, floods, and landslides – found the 15th edition of the Global Climate Risk Index 2020 prepared
by Bonn-based think-tank Germanwatch.
 Overall, India’s economic losses due to climate change were the second highest in the world with a loss of Rs 2.7
lakh cr ($37 bn) – nearly as much as its defence budget in 2018 – the report said.
 This translates to losing about 0.36 per cent per unit of gross domestic product.
Typhoon hits Philippines
 Typhoon Kammuri hit Philippines recently.
 It brought heavy rains that prompted the suspension of air travel and govt offices in the capital, Manila, and
warnings of floods and storm. Local govts evacuated some 225,000 people ahead of the arrival the Typhoon.
 Kammuri is the 20th typhoon to hit the country this year.
US passes Uyghur Act
 The US Congress has passed the Uyghur Human Rights Policy Act, which proposes that America redirect
resources to address the mass internment of over 10 lakh Uyghurs and other Muslim ethnic minorities in China.
 The move by the House of Representatives is expected to generate a sharp reaction from China.
S Arabia gets G20 Presidency
 Saudi Arabia has taken over the G20 Presidency from Japan. It is the first Arab nation to assume the G20
presidency.
 The Saudi G20 presidency is committed to continuing the work from Osaka and promoting multilateral
consensus. Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, hailed it as a "unique
opportunity" to shape international consensus.
India digitises Haj process
 India has become the first country to make the entire process for pilgrims going on Haj completely digital.
 Minority Affairs Minister Mukhtar Abbas Naqvi announced this after signing the bilateral agreement for 2020's
pilgrimage with the Saudi Haj Minister in Jeddah.
 An online application, e-visa, Haj mobile app, 'e-MASIHA' health facility, "e-luggage pre-tagging" providing all
information in India itself regarding accommodation and transportation in Mecca and Madina will be provided to
2 lakh Indian Muslims going for Haj in 2020.
Germany’s first 'green bond'
 Germany will launch its first “green bond” with a multi-bn euro issue in the second half of 2020, to tap into the
booming market for sustainable finance.
 The German Federal Govt intends to support the development of sustainable financial markets and in particular
the green market segment by issuing Green German Govt securities.
 The “green bond”, which is part of the govt’s efforts to roll over maturing debt, will be designed in the form of
so-called green twin bonds.
 This means that the govt will issue “green bonds” with the same maturity and coupon as conventional securities.
Libya's GNA accepts Turkish offer
 Libya's United Nations-recognised govt has accepted an offer from Turkey for military and logistical support as it
seeks to repel an offensive led by forces loyal to renegade military commander Khalifa Haftar.
 The Tripoli-based Govt of National Accord (GNA) said in a statement that its cabinet had "unanimously
approved the implementation of the memorandum of understanding on security and military cooperation between
the GNA and the Turkish govt signed on Nov 27".
$4.2 mn redevelopment project in Manama
 Prime Minister Narendra Modi launched the $4.2 mn redevelopment project of the 200-year-old Lord Sri
Krishna temple in the Bahraini capital during his two-day visit to the Gulf nation.
 The facelift for the Shreenathji (Shree Krishna) temple in the city will kick off later this year.
Iran’s activates nuclear plant
 Iran stepped up activity at its underground Fordow nuclear plant recently - a move that showed for the first time
that Tehran explicitly planned to quit a historic deal with world powers that curbed its disputed nuclear work.
 With the presence of inspectors from the International Atomic Energy Agency (IAEA), Iran started injecting
uranium gas into centrifuges in Fordow.
 French President Emmanuel Macron called Iran’s latest move ‘grave’, saying it explicitly signalled Iran’s intent
for the first time to leave the deal - formally known as the Joint Comprehensive Plan of Action.
‘Bishwa Ijtema’ in B’desh
 Bangladesh will hold the first phase of Bishwa Ijtema, the second largest congregation of Muslim community
after Hajj, from Jan 10 to 12 in 2020 in Dhaka.
 The second phase of the Ijtema will be held from Jan 17 to 19.
 Bishwa Ijtema is an annual event which is held in a 160 acre field on the bank of the Turag river at Tongi on the
outskirts of Dhaka since 1967.
President sacks govt
 In West African country Guinea Bissau, President Jose Mario Vaz sacked the govt with immediate effect,
throwing the country into further chaos and casting doubt over upcoming election.
 It is the latest move in a months-long confrontation between the presidency and the govt and comes days after
Prime Minister Aristide Gomes denounced a coup attempt and police violently repressed an opposition protest.
Pak violated its obligations
 The International Court of Justice (ICJ) President Judge Abduylqawi Yusuf told the United Nations General
Assembly that Pakistan violated its obligations under the Vienna Convention in the case of Indian national
Kulbhushan Jadhav.
 Presenting the report of the International Court of Justice to the 193-member General Assembly, he said, in its
judgement of Jul 17, the principal judicial organ of the United Nations found that Pakistan had violated its
obligations under Article 36 of the Vienna Convention and that appropriate remedies were due in this case.
Chile pulls out
 Chile has pulled out of hosting two major international summits, including a UN climate change conference, as
anti-govt protests continue.
 President Sebastian Pinera said the decision had caused him pain but his govt needed to prioritise re-establishing
public order.
 The decision to call off the Asia-Pacific Economic Cooperation (Apec) planned for Nov and UN global climate
gatherings (COP25) in Dec is said have dealt a blow to Chile’s image as a regional oasis of stability and
economic development.
 The demonstrations were originally triggered by a now-suspended rise in the price of metro fares in the capital
Santiago.
CP’s plenary session
 Over 370 top officials of China’s ruling Communist Party on 28 Oct began the much-delayed four-day plenary
session.
 It is regarded as a politically significant conclave for President Xi Jinping as it comes in the backdrop of protests
in Hong Kong, trade war with the US and slowdown of the economy.
 The closed-door meeting of the plenary is also known as plenum.
EU agrees to extend Brexit
 The European Union has agreed to extend Brexit until 31 Jan 2020. European Council president, Donald Tusk
made the announcement.
 The bloc would allow for a so-called flextension, meaning the UK could leave before the deadline if a deal was
approved by Parliament.
 The UK was due to leave the EU on 31 Oct, but the British PM was required to request an extension from the bloc
after the UK Parliament failed to agree on a Brexit deal.
India pledges contribution
 India has pledged to contribute USD 13.5 mn for various operational activities of development across the UN
agencies for the year 2020.
 Counsellor at India’s Permanent Mission to the UN Anjani Kumar announced India’s pledges at the UN General
Assembly Pledging Conference for Development Activities.
 India will contribute USD 5 mn to the UN Relief and Works Agency for Palestine Refugees in the Near East and
USD 4.5 mn to the UN Development Programme.
 The World Food Programme will get USD 1.92 mn, USD 900,000 to the UN Children’s Fund, USD 500,000 to
the UN Population Fund, USD 200,000 dollars to the UN Voluntary Fund for Technical Co-operation and USD
150,000 dollars to the UN Commission on Human Settlements Programme.
Pneumonia deaths in 2018
 India had the second-highest number of deaths of children under the age of five in 2018 due to pneumonia, a
curable and preventable disease that claimed the life of one child every 39 seconds globally, according to a new
report by the UN.
 The United Nations Children’s Fund (UNICEF) said that globally, pneumonia claimed the lives of more than
800,000 children under the age of five last year - or one child every 39 seconds.
 Most deaths occurred among children under the age of two, and almost 153,000 within the first month of life.
 The report said just five countries were responsible for more than half of child pneumonia deaths: Nigeria
(162,000), India (127,000), Pakistan (58,000), the Democratic Republic of Congo (40,000) and Ethiopia (32,000).
Narendra Modi co-chaired 16th India-ASEAN summit
 Prime Minister visited Bangkok for a three-day visit to Thailand.
 Narendra Modi co-chaired the 16th India-ASEAN summit and took stock of the progress made in the
relationship between ASEAN and India.
 He also took part in the 14th East Asia Summit and reviewed the future direction of East Asia Cooperation and
exchange views on regional and international issues.
 He also participated in the 3rd Regional Comprehensive Economic Partnership (RCEP) summit.
Rajnath Singh visited Singapore
 Defence Minister called on Deputy Prime Minister and Finance Minister of Singapore Heng Swee Keat during
his recent visit to the country. Mr Singh expressed satisfaction at the increasing engagement of the armed forces
of India and Singapore in conducting joint exercises.
German Chancellor pledged to invest 1 bn euros
 German Chancellor pledged to invest 1 bn euros over the next five years on environmentally-friendly urban
mobility in India.
 Merkel, whose visit to the country coincided with one of the worst spells of air pollution in Delhi/NCR, also
emphasised on the need to replace diesel-run public transport with electric vehicles.
 Germany would also put in 200 mn euros to reform the bus sector in Tamil Nadu.
China, India train diplomats
 The second joint China-India Capacity Building Program for Diplomats from Afghanistan began with the
participation of 10 young Afghan diplomats recently.
 The intensive two-week course is being organised by India’s Ministry of External Affairs at New Delhi-based
Foreign Service Institute (FSI).
 This will include training modules on various topics covering India’s foreign policy, key international issues,
multilateral diplomacy and diplomatic skills.
Bangladesh tops bribery risk
 Bangladesh has the highest business bribery risk among South Asian courtiers, according to the Trace Bribery
Matrix which releases annual ranking for 200 countries.
 The Matrix evaluates countries under four parameters which are business interaction with the govt, anti-bribery
deterrence, transparency and civil society oversight.
 Bangladesh has been placed at 178 position among 200 countries in terms of business bribery risk.
 It has been on the high risk country list of Trace Bribery Matrix since 2014 when the first matrix was released.
New typhoid vaccine
 Pakistan has become the first country in the world to introduce a new typhoid vaccine, as the country grapples
with an ongoing outbreak of a drug-resistant strain of the potentially fatal disease.
 The vaccine, approved by the World Health Organization (WHO), will be used during a two-week
immunisation campaign in southern Sindh province.
 Sindh is where most of Pakistan’s 10,000 cases of typhoid have been documented since 2017.
 The new vaccines have been provided by Gavi, the Vaccine Alliance, to the Pakistani govt free of cost.
Ebola vaccine for Congo
 A second Ebola vaccine is to be offered to around 50,000 people in the Democratic Republic of Congo, as part of
a major clinical trial.
 The Johnson & Johnson vaccine will be used alongside a one-dose vaccine made by Merck, which has already
been given to around 250,000 people.

 Merck’s jab has now been approved by the World Health Organization (WHO).
 The European Commission has also approved the vaccine.
 More than 2,100 people have died in DR Congo, in the second-largest Ebola outbreak on record.
 The J&J’s vaccine, which requires two doses given 56 days apart, will be available to adults and children over
one, living in two areas of the DR Congo city of Goma.
Bilateral Regional Forum
 India and Russia will hold their maiden Bilateral Regional Forum at the level of Russian Provinces and Indian
States be held in 2020 to dismantle the barriers of trade at regional level.
 This was decided at a meeting between PM Narendra Modi and President Vladimir Putin in Brasilia on the
sidelines of BRICS Summit.
 Modi formally announced his visit to Moscow for Victory Day parade in May 2020.
Historic wartime parade
 Russian troops wearing World War II uniforms Mared across Moscow’s Red Square, in memory of the historic
1941 parade, when Soviet soldiers went directly to the battlefield to fight the Nazis.
 The annual re-enactment featuring some 4,000 troops and T-34 tanks commemorated the legendary Nov 7, 1941
parade whose participants Mared from Red Square to the front line, becoming a symbol of courage and
patriotism.
Prez appoints new Guvs
 Nepalese President Bidya Devi Bhandari administered the oath of office and secrecy to new Governors of all the
seven provinces.
 The newly appointed Governors were administered oath at a special function at Sheetal Niwas, the President’s
House, in Kathmandu on 5 Nov.
 Vice President Nanda Bahadur Pun, Prime Minister KP Sharma Oli and other dignitaries were also present on
the occasion. Earlier, President Bidya Devi Bhandari relieved erstwhile Governors of all seven provinces.
State of emergency in Venice
 The Italian govt declared a state of emergency for the city after an exceptional tide surged through churches,
shops and homes, causing millions of euros worth of damage to the UNESCO city.
 Prime Minister Giuseppe Conte said that the cabinet had approved the state of emergency and ordered the
immediate release of 20 million euros in funds for the most urgent interventions in the devastated city after the
recent flooding, the highest in 50 years.
Massive Earthquake in Malaku islands
 A massive earthquake of 7.4 magnitude hit the northwest of the islands in Indonesia. The earthquake was
measured at 62km deep in the sea.
 The powerful quake also triggered a tsunami warning in the region. Indonesia is situated on the ‘Ring of Fire’ an
area in the basin of the Pacific Ocean which is vulnerable to frequent earthquake and volcanic eruptions.
Quake strikes Indonesia
 A strong 6.5-magnitude earthquake hit off the remote Maluku islands in eastern Indonesia on 26 Sep, US
seismologists said, but no tsunami warning was issued.
 The quake struck about 37 kilometres offshore northeast of Ambon in Maluku province at 8:46 am local time, at a
depth of 29 kilometres, according to the US Geological Survey.
Commitment to fight fake news
 Twenty countries, including France, Britain and India, have signed an agreement at the UN that aims to stop the
spread of fake news online.
 The signatories, which also included South Africa and Canada, committed to promoting “independently reported,
diverse and reliable” information on the internet, under an accord initiated by Reporters Without Borders
(RSF), a press freedom watchdog.
UN launches probe
 The United Nations Human Rights Council (UNHRC) agreed on 27 Sep to set up an international fact-finding
mission to document violations in Venezuela, including alleged torture and thousands of summary executions.
 Venezuela’s ambassador Jorge Valero rejected the “hostile resolution” - brought by countries including
Argentina, Brazil, Chile, Colombia and Peru which are hosting millions of Venezuela’s migrants and refugees - as
being part of a campaign led by the United States.
Nepal celebrates Bada Dashain
 This is the longest Hindu festival in Nepal, traditionally celebrated for two weeks with prayers and offerings to
Durga, the Universal Mother Goddess.
 The great harvest festival of Nepal, Dashain is a time for family reunions, exchange of gifts and blessings, and
elaborate pujas. Dashain honors the Goddess Durga, who was created out of the shakti or energy of all the gods,
armed with weapons from each of them.
 Goddess Durga, symbolizing valor and prowess, is worshipped and offered sacrifices to ensure the devotees’
progress and prosperity.
US imposes tariffs
 The US has slapped tariffs on a record 7.5-bn dollars worth of European goods. Airbus, French wine and Scottish
whiskies are among the high-profile targets.
 The tariffs were imposed despite pleas from European officials for a last-minute reprieve and French Economy
Minister Bruno Le Maire warning of retaliation.
 Earlier, the World Trade Organization (WTO) formally gave the go-ahead for the United States to impose trade
sanctions on up to 7.5 bn dollars worth of European Union goods.
Facebook launches Libra
 Facebook officially moved forward with its plans on 14 Oct to create a new digital currency called Libra, despite
several high-profile defections from the project and intense criticism from US regulators and politicians.
 The Libra Association, the nonprofit that will govern the currency, officially signed on 21 charter members at the
organization’s inaugural meeting in Geneva.
 Originally the Libra Association had 27 potential members, but several companies dropped out in recent days,
including Visa, Mastercard and PayPal.
 Some larger companies who are now members of the association include Uber, Lyft, Spotify and European
telecommunications company Vodafone.
 A cryptocurrency is a digital or virtual currency that uses cryptography for security.
Romania govt collapses
 Romania’s beleaguered left-wing govt collapsed in a no-confidence vote on 10 Oct.
 This has paved the way for the president to appoint a new prime minister.
 A total of 238 MPs in the 465-seat parliament voted in favour of the motion against the govt of Prime Minister
Viorica Dancila.
Singapore bans ads
 Singapore will become the first country in the world to ban ads for the unhealthy sugary drinks in its latest move
to combat rising diabetes rates.
 Products deemed “less healthy” must now display labels grading their nutritional and sugar content, with those
considered to be most unhealthy banned from appearing in ads across all media platforms, including broadcast,
print and online channels. This aims to reduce the influence of such advertisements on consumer preferences.
Saudi to offer tourist visas
 Saudi Arabia will offer tourist visas for the first time, opening up the ultra-conservative kingdom to
holidaymakers as part of a push to diversify its economy away from oil.
 Kickstarting tourism is one of the centrepieces of Crown Prince Mohammed bin Salman’s Vision 2030 reform
programme to prepare the biggest Arab economy for a post-oil era.
Rail links to reopen
 Prime Minister of Bangladesh Sheikh Hasina has announced that all the rail links with India closed after the
1965 war will be reopened.
 The first rail line between India and Dhaka was opened in 2008 when Maitree express between Dhaka and
Kolkata was started. In 2017 Bandhan express was also started between Kolkata and Khulna.
 On 21 Sep, Railway Minister of Bangladesh and India’s High Commissioner Riva Ganguly Das jointly laid the
foundation stone for up-gradation and laying of missing tracks from Chilhati in Bangladesh to the border.
 This 7.5 kilometre long track will connect West Bengal to Assam via Bangladesh.
India-UK crates robot
 A collaboration between researchers from the UK and India has resulted in a new robot which encourages
children to wash their hands.
 The robot, named Pepe, was recently used by pupils at a primary school in Kerala as a fresh approach to hygiene.
None of the children had ever interacted with anything like a robot before, but they were excited to interact with
this relatively simple machine, which clearly had a positive effect on their efforts to keep their hands clean.
 Pepe was mounted to the wall above a hand washing station at the Wayanad Govt Primary School, which has
around 100 pupils aged between five and 10.
Pakistan fails to meet out targets
 Pakistan has escaped for another four months the ‘Black List’ of the global terror watchdog, the Financial Action
Task Force (FATF), but has been severely indicted for failing to deliver on most of its 27 targets and not putting
a stop to terror financing.
 The FATF has given Pakistan till Feb 2020 to put its house in order or warned that it would blacklisted.
 The Paris-based FATF took the decision after its five-day plenary, which concluded in the French capital.
 Pakistan could comply with only five of the 27 points but was saved from the inevitable blacklist by its all-
weather friend China, currently in the FATF chair.
President visits Philippines, Japan
 President Ram Nath Kovind on 17 Oct departed for an official seven-day visit to the Philippines and Japan with
an aim to expand the bilateral cooperation between the two countries.
 The highlights of the visit were the President attending the enthronement ceremony of new Japanese Emperor
Naruhito and unveiling the bust of Mahatama Gandhi at the Center of peace education at a college in Philippines’
capital Manila. He arrived in Manila on the first leg of the tour.
Hindu Kush to lose glaciers
 Bearing the brunt of global warming, Hindu Kush Himalayan region, an area covering high mountains chains of
central, south and inner Asia, faces the risk of losing over 60 per cent of its glaciers by 2100, a global climate
report said on 25 Sep.
 The special report on oceans and cryosphere in a changing climate, prepared by the Intergovernmental Panel on
Climate Change (IPCC), said that glacier retreat and snow cover changes have already contributed to localised
declines in agricultural yields in high mountain regions, including Hindu Kush Himalaya (HKH).
Cryptocurrency fund of UNICEF
 The Children’s agency of the United Nations, known as UNICEF, has now become the first UN organization to
hold and make transactions in cryptocurrency.
 The UN Children’s agency has established UNICEF Cryptocurrency Fund, making UNICEF able to receive, hold
and disburse donations via cryptocurrencies.
 UNICEF joins a number of aid agencies that accept donations in cryptocurrencies, including the American Red
Cross and the UN World Food Programme.
Women to join armed forces
 Saudi Arabia announced on 9 Oct it will allow women in the ultra-conservative kingdom to serve in the armed
forces as it embarks on a broad programme of economic and social reforms.
 The move is the latest in a series of measures aimed at increasing the rights of women in the kingdom, even as
rights groups accuse Riyadh of cracking down on women activists.
 Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler, has approved a handful of reforms aimed at
widening women’s rights, including allowing them to drive and to travel abroad without consent from a male
“guardian”.
Ecuador to leave OPEC

 Ecuador will withdraw from the 14-nation Organization of the Petroleum Exporting Countries (OPEC) from
Jan 1, 2020 because of fiscal problems, the country’s energy ministry said on 1 Oct.
 The Andean nation is attempting to increase its production of crude oil in a bid to raise more income and has on
multiple occasions not complied with the output quota fixed by OPEC.
Tripartite mechanism for Rohingyas
 Bangladesh, Myanmar and China have agreed to form a tripartite joint working mechanism to oversee the
repatriation process of Rohingyas to Myanmar.
 Foreign Minister of Bangladesh Dr AK Abdul Momen announced this in New York after holding talks with his
counterparts from China and Myanmar.
India announces grant
 Prime Minister Narendra Modi met leaders of the Pacific Islands Developing States (PSIDS) on the sidelines of
the UNGA session in New York.
 In the spirit of India’s fundamental Mantra “Sabka Saath, Sabka Vikas aur Sabka Vishwas” PM Modi announced
allocation of $12 mn grant towards the implementation of high impact developmental project in the area of their
choice.
Australia decriminalises abortion
 Abortion has been decriminalised across Australia after the last remaining state where it was illegal, New South
Wales (NSW), voted to reform its laws.
 The bill, passed on 26 Sep, overturns a 119-year-old law which had been criticised by opponents as archaic.
 The legislation had generated weeks of heated debate and deeply divided the state’s conservative govt.
 Previously, abortions were possible in NSW only if a doctor deemed, there was “serious risk” to a woman’s
health.
 The law makes it legal for terminations to be conducted up to 22 weeks into a woman’s pregnancy - or later if two
doctors agree.
UAE to set up AI University
 The first graduate-level and research-based Artificial Intelligence (AI) university in the world is being established
in Abu Dhabi, the capital of the United Arab Emirates (UAE).
 The university is named after Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed
Forces Sheikh Mohammed bin Zayed Al Nahyan.
 With the university, UAE aims to pave the way for a new era of innovation and technological advancement that
benefits the UAE and the world.
 Graduate students can now apply to MBZUAI through the university’s website with registration set to open in
Aug 2020. The first class will start at MBZUAI’s Masdar City campus in Sep 2020.
India, Philippines agree to work
 India and the Philippines have committed to work closely to defeat and eliminate terrorism in all its forms and
manifestations.
 In Joint press statements after delegation-level talks with President Rodrigo Duterte of Philippines, President
Ram Nath Kovind said, both countries have been the victims of terrorism.
 The President said, the Philippines and India have also agreed to deepen defense and maritime security
partnership and to make it a key pillar of their bilateral cooperation.
Typhoon Hagibis hit Japan
 At least 35 people died and several others were missing as typhoon Hagibis ripped through Japan including
Tokyo’s metropolitan area, causing multiple rivers to overflow and power blackouts in 3,76,000 houses.
 More than 100 people were injured across the country after typhoon Hagibis made landfall on Japan’s main island
of Honshu.
Line of credit to Comoros
 India has extended a line of credit of over $60 mn to Comoros in the field of energy and maritime defence
cooperation.

 Addressing the parliament of the East African island nation Comoros at its capital Moroni, Vice President M
Venkaiah Naidu said, both the countries have signed some important agreements including cooperation in
defence and energy sectors.
 The Vice President was also conferred ‘The Order of the Green Crescent’, the highest civilian honour of
Comoros, by Azali Assoumani, President of Comoros in Moroni.
India joins global alliance
 India has joined the league of 15 of the world’s leading city networks and technology governance organisations
that will work towards advancing the responsible and ethical use of smart city technologies.
 The G20 Global Smart Cities Alliance on Technology Governance will create global norms and policy
standards for the use of connected devices in public spaces as per a World Economic Forum (WEF) release.
 The Global Smart Cities Alliance’s founding set of institutional partners include the presidents and host nations of
the Group of 20 (G20) in 2019 and 2020; Japan and the Kingdom of Saudi Arabia; the Smart City Mission of
India; Cities for All; Cities Today Institute; Commonwealth Local Govt Forum; Commonwealth Sustainable
Cities Network among others.
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