19th December 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the Daily GK Update of 19th December 2020 covering the following news headlines: Mega leather park, Goa Liberation Day, SBI General Insurance, ICRA, Human Freedom Index 2020.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about the banking terms, current affairs news, etc. So, here is the GK update of 19th December 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

State News

1. Mega leather park with Rs 5,850 cr investment to come up in Kanpur

• Mega leather park to come up in Ramaipur village of Kanpur with an investment of Rs 5,850 crores.
• The park, part of the mega leather cluster project will create 50,000 direct jobs & indirect employment for 1.5 lakh people.
• Recently, the project has received approval from the Union Commerce Ministry. The mega leather cluster project will attract an investment of about Rs 13,000 crores.

Important takeaways for all competitive exams:

Agreement News

3. SBI General Insurance, IntrCity RailYatri partner to offer ₹5L travel cover

Economy News

4. ICRA Projects Indian economy to contract 7.8% in FY21

• The domestic rating agency, ICRA Ratings expects the technical recession in the country’s economy to end in the fourth quarter of the current fiscal, limiting the contraction in the GDP to 7.8 per cent in the financial year 2021.

Banking News

5. RBI imposes Rs 50 lakh fine on Urban Co-operative Bank in Kerala

• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 50.00 lakh on The Urban Co-operative Bank Ltd in Kerala.
• This fine is imposed for non-compliance with directions issued on Income Recognition and Asset Classification (IRAC) norms and on Management of Advances-UCBs.
• Statutory inspection of the bank with reference to its financial position as on March 31, 2019, conducted by RBI, revealed that the bank had not complied with the directions, the central bank said in a statement.
• A notice was issued to the bank asking why penalty should not be imposed for non-compliance with the directions issued by RBI.

Important takeaways for all competitive exams:

• RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

Business News

6. GoI and ADB sign 4.21 million dollar PRF facility for Tripura

• The Government of India and the Asian Development Bank (ADB) have signed a US $4.21 million project readiness financing (PRF) facility for the preparation of infrastructure development projects to improve urban amenities and develop tourism infrastructure in Tripura.
• This is ADB’s first PRF facility for a state in the northeastern region of India.
• The facility will support the Tripura Government’s priorities of improving urban services and tourism infrastructure that will help boost economic development.
• The facility aims to ensure high readiness of ensuing infrastructure projects through feasibility studies, preparing detailed engineering designs, and capacity building of state-level agencies while ensuring climate and disaster resilience and sustainability of sub-projects.

7. Paytm launches 24×7 RTGS money transfer for merchants

• Digital financial services platform Paytm has launched a 24×7 RTGS facility to support the companies that make high-value transactions.
• It also enables businesses to make bulk and instant money transfers to their employees, vendors & partners. Customers can instantly make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets through Paytm Payouts’ APIs and Paytm for Business Dashboard.
• Paytm Payout is the only service provider that offers seamless round the clock money transfers through Wallet, UPI, IMPS, NEFT & RTGS.

Important takeaways for all competitive exams: 

• Paytm HQ: Noida, Uttar Pradesh;
• Paytm Founder & CEO: Vijay Shekhar Sharma.

8. ADB and India sign $300 million loan to upgrade power projects in UP

• The Asian Development Bank (ADB) has signed $300 million loan agreement with the Government of India to upgrade rural power distribution networks in Uttar Pradesh.
• This upgradation helps to provide reliable electricity supply to consumers in the state.
• This is the first tranche of the loan for the Uttar Pradesh Power Distribution Network Rehabilitation Project.
• Overall, the $430 million multi-tranche financing facility (MFF) has been approved for the project constituting two tranches.
• The project envisages conversion of 65,000 kilometres (km) of rural low-voltage distribution lines from bare conductors to aerial bundled conductors (ABC) to create a robust distribution network that will benefit an estimated 70 million people in 46,000 villages.

Ranks and Reports News

9. India ranks 111 in Human Freedom Index 2020

• A worldwide ranking of civil, economic and personal freedom, the Human Freedom Index 2020 was released.
• India was placed at the 111th spot out of 162 countries. In 2019, India ranked 94 on the index.
• The first three spots have been bagged by New Zealand, Switzerland and Hong Kong. The United States and the United Kingdom are tied at the 17th spot on the index. War-torn Syria ranked the last on the list.
• India’s scored 6.30 out of 10 in personal freedom and 6.56 in economic freedom. The country’s overall human freedom score was 6.43.
• However, India has been ranked ahead of China and Bangladesh, which ranked 129 and 139 on the 2020 index respectively.

Awards News

10. India’s Vidyut Mohan named among ‘Young Champions of the Earth’ by UNEP

• Vidyut Mohan was one of the “Young Champions of the Earth” winners by United Nations Environment Programme.
• A 29-year-old Indian entrepreneur is among the seven winners of the prestigious “Young Champions of the Earth” 2020 prize given by the UN environment agency to global change-makers using innovative ideas and ambitious action to help solve some of the world’s most pressing environmental challenges.
• The prize is annually awarded to 7 entrepreneurs under age 30.

11. Ratan Tata to be honoured with ‘Global Visionary of Sustainable Business and Peace’ award

• Veteran industrialist, Ratan Tata will be honoured by the Indo-Israel Chambers of Commerce for promoting innovation that supports sustainability and peace in the region, including with the Palestinians.
• The chairman emeritus of the Tata group will be honoured with ‘Global Visionary of Sustainable Business and Peace’ award during the launch of the Federation of Indo-Israel Chamber of Commerce’s international chapter in Dubai on December 21.

Sports News

12. Mohammad Amir announced his retirement from international cricket

• Pakistan’s star pacer, Mohammad Amir has announced his retirement from international cricket citing ‘mental torture’ by the management as the reason behind his decision. Left-arm fast bowler Amir made his international debut in July 2009.
• In his ODI debut, in the same month, Amir bagged 3 wickets for 45 runs in his 10 overs, announcing the start of a star career. However, his potentially big career was hindered by his infamous match-fixing involvement with Salman Butt and Mohammad Asif.

13. Mauritian badminton player Foo Kune banned for two years by CAS

• The Court of Arbitration for Sport (CAS) has banned Mauritian badminton player Kate Jessica Foo Kune for two years for an anti-doping violation.
• Foo Kune tested positive for a banned steroid during the 2019 African Badminton World Championships in Port Harcourt, Nigeria, but a Badminton World Federation (BWF) panel ruled she bore no fault or negligence.
• The 27-year-old escaped sanction after contending that her positive test was the result of sabotage and that her water had been spiked by an “ill-intentioned individual”.

Important takeaways for all competitive exams: 

• Court of Arbitration for Sport President: John Coates;
• Court of Arbitration for Sport HQ: Lausanne (Switzerland).

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19th December Current Affairs 2020 | Current Affairs Today | Daily Current Affairs 2020

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