Table of Contents
Here is the daily GK update of 20th November 2020 covering the following news headlines: GST Bhawan, World Bank, My Stamp on Chhath Puja, Moody’s, Barclays.
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 20th November 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.
National News
1. Narendra Singh Tomar inaugurates capacity building component of PM-FME
- Union Minister for Food Processing Industries, Narendra Singh Tomar has virtually inaugurated the capacity building component of the Pradhan Mantri Formalisation of Micro food processing Enterprises scheme (PM-FME Scheme).
- PM-FME Scheme has been launched with an outlay of Rs 10,000 crore for a period of five years from 2020-21 to 2024-25. He also launched the GIS One District One Product (ODOP) digital map of India.
- It provides details of ODOP products of all the states and facilitates the stakeholders to make concerted efforts for its value chain development.
- The digital map also has indicators for tribal, Scheduled Caste (SC), Scheduled Tribe (ST), and aspirational districts.
2. CBIC Chairman Ajit Kumar inaugurates GST Bhawan
- Central Board of Indirect Taxes and Customs (CBIC) Chairman M. Ajit Kumar, along with members of the Board inaugurated the GST Bhawan, Panchkula, Haryana.
- The state of the art building will house the offices of Central GST at Panchkula. It has been built at a cost of about 31 crores rupees.
- This is the first major infrastructure project of CBIC completed in these times of COVID. The building is a fully air-conditioned three-storied building built on a plot of about 1.4 acres with 7600 square metres covered area and seating capacity of about 200 persons.
Important takeaways for all competitive exams:
- CBIC Founded: 1 January 1964.
- CBIC Headquarters: New Delhi.
3. World Bank Signs $120 Million Project to Improve Connectivity in Meghalaya
- The Government of India, the Government of Meghalaya and the World Bank has signed a $120-million project to improve and modernize the transport sector of Meghalaya.
- This will help Meghalaya to harness its vast growth potential for high-value agriculture and tourism.
- The $120 million loans from the International Bank for Reconstruction and Development (IBRD), has a maturity of 14 years including a grace period of six years.
- The International Bank of Reconstruction and Development (IBRD) is a development bank administered by the World Bank.
Important takeaways for all competitive exams:
- Meghalaya Chief Minister: Conrad Sangma.
- Meghalaya Governor: Satya Pal Malik.
- Meghalaya Capital: Shillong.
4. Ravi Shankar Prasad releases “My Stamp on Chhath Puja”
- Union Minister of Communications, Electronics & Information Technology and Law and Justice, Ravi Shankar Prasad has released a “My Stamp on Chhath Puja”.
- My Stamp is an innovative concept initiated by the Department of Posts. Any common person or corporate organisation can now book order and get a personalised photograph or an image of a Postage Stamp.
- My Stamp is one of the unique products being offered by India Post, which has gained its popularity in the customised gifting category.
- My Stamp on Chhath Puja is available in all Philatelic bureaus and major post offices across the country. A special cover on the theme “Chhath-A symbol of Simplicity and Cleanliness” was also released.
5. Dr Harsh Vardhan addresses 33rd Stop TB Partnership Board meet
- The Union Health Minister Dr Harsh Vardhan has addressed the 33rd Stop TB Partnership Board meeting in New Delhi through Video Conference.
- During the meet, the minister has stressed on the need to create a mass movement for the elimination of TB with strategized advocacy, thought leadership, disruptive social entrepreneurship, powerful, societal and political commitment.
- It must be noted that India is running the “TB Harega, Desh Jeetega” campaign that targets to achieve the Sustainable Development Goal target related to TB by 2025, five years ahead of the global target of 2030.
State News
6. Vijayanagara becomes 31st District of Karnataka
- The world heritage site of Hampi, the erstwhile capital of the Vijayanagar empire, will soon be part of a new district.
- The Karnataka Government has approved to carve out Vijayanagara as a new district of the state.
- Vijayanagara will be the 31st district of the State. The new district would be carved out of Ballari and named after the Vijayanagara empire that ruled from this region.
Important takeaways for all competitive exams:
- Chief Minister of Karnataka: B.S. Yediyurappa; Governor: Vajubhai Vala.
Economy News
7. Moody’s projects India GDP at -10.6% for FY21
- Moody’s Investors Service has revised India’s GDP growth forecast to -10.6 per cent for the current fiscal 2020-21 (FY21), in its November 2020 update, from its earlier estimate of -11.5 per cent in September 2020.
- For next fiscal 2021-22, Moody’s projected India to grow at 10.8 per cent, as against the previous estimate of 10.6 per cent.
8. Barclays Projects India’s GDP at -6.4% in FY21
- Barclays has revised down its GDP forecast for India in the current fiscal year 2020-21 (FY21) to – 6.4% from its earlier estimate of – 6%.
- However, Barclays has raised its FY22 (2021-22) growth forecast to 8.5 per cent from 7 per cent.
Summits and Conferences
9. 1st India-Luxembourg Virtual Summit
- The Prime Minister of India, Narendra Modi, and the Prime Minister of the Grand Duchy of Luxembourg, Xavier Bettel, held the first-ever India-Luxembourg Virtual Summit on 19 November 2020.
- Both countries have friendly relation of over more than seven decades since the establishment of diplomatic relations in 1948.
- During the Summit, both parties agreed for enhanced cooperation in areas of trade, finance, steel, space, ICT, innovation, manufacturing, automotive, sustainable development, including through renewable energy, and the fight against climate change. Prime Minister welcomed Luxembourg’s announcement to join the International Solar Alliance (ISA), and invited it to join the Coalition for Disaster Resilient Infrastructure (CDRI).
Ranks and Reports
10. India Ranks 77 in TRACE Bribery Risk Matrix 2020
- India is placed at 77th position in the TRACE Bribery Risk Matrix 2020. India has achieved a score of 45 in a global list that measures business bribery risks of 2020.
- India’s rank stood 78 positions in 2019. It was a better performance than neighbouring nations such as Bangladesh, Pakistan, Nepal and China. But, Bhutan scored better than India and got 48th place in the list.
- North Korea, Turkmenistan, South Sudan, Venezuela and Eritrea had the highest commercial bribery risk. Denmark, Norway, Finland, Sweden and New Zealand showed the lowest bribery risk.
The TRACE Matrix list is released by TRACE International, an anti-bribery standard-setting organisation, which measures business bribery risk in 194 countries, territories, and autonomous and semi-autonomous regions.
Awards News
11. Dr Pokhriyal to be conferred with Vatayan Lifetime Achievement Award
- Union Education Minister, Ramesh Pokhriyal ‘Nishank’ will be conferred with the Vatayan Lifetime Achievement Award.
- This award will be conferred to the Minister for writing, poetry and other literary works.
- The Minister has penned more than 75 books on wide-ranging issues, which have also been translated into many national and foreign languages.
- Vatayan International Awards given by the Vatayan-UK organization in London honours poets, writers and artists for their exemplary work in their respective fields.
Books and Authors
12. Defence Minister Rajnath Singh unveils two books
- Defence Minister Rajnath Singh has unveiled two books ‘The Republican Ethic Volume III’ and ‘Loktantra Ke Swar’ which are a collection of selected speeches of President Ram Nath Kovind during the third year of his presidency.
- Information and Broadcasting Prakash Javadekar unveiled the e-book versions of the two books.
- Mr Rajnath Singh stated that the President’s speeches depict his concern towards issues such as girls education, empowerment of women, and welfare of the weaker sections.
- All the speeches in this book reflect on the self-confidence in this country.
- This book comprises speeches on the country’s efforts to fight COVID19, where India is faring much better than other countries, to bravely defending its borders. This compilation of speeches of President Kovind presents a comprehensive picture of his work, personality and values.
Important Days
13. World Children’s Day is celebrated on 20 November
- World Children’s Day is observed globally on 20 November every year.
- The day is celebrated to promote international togetherness, awareness among children worldwide, and improving children’s welfare.
- November 20th is an important date as it is the date in 1959 when the UN General Assembly adopted the Declaration of the Rights of the Child.
- World Children’s Day was first established in 1954 as Universal Children’s Day and is celebrated on 20 November each year.
- It is also the date in 1989 when the UN General Assembly adopted the Convention on the Rights of the Child.
14. Africa Industrialization Day: 20 November
- Africa Industrialization Day is celebrated on November 20 each year. It is a time when governments and other organizations in many African countries examine ways to stimulate Africa’s industrialization process.
- It is also an occasion to draw worldwide media attention to the problems and challenges of industrialization in Africa.
- Theme 2020: “Inclusive and sustainable industrialisation in the AfCFTA era”.
- Within the framework of the Second Industrial Development Decade for Africa (1991-2000), the United Nations General Assembly, in 1989, proclaimed 20 November “Africa Industrialization Day”.
- Since then, the United Nations System has held events on that day throughout the world to raise awareness about the importance of Africa’s industrialization and the challenges faced by the continent.
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