GK Update 4th December 2020

1. International Sand Art Festival & Konark Festival 2020 begins

  • The 9th edition of the International Sand Art Festival and the 31st edition of the Konark Festival has kicked-off in Odisha.
  • International Sand Art Festival is being held at the Chandrabhaga Beach of Konark in Puri district of Odisha.
  • About 70 artists from across the country are taking part in the festival. The world-renowned sand artist and Padmashree Awardee, Sudarsan Pattnaik, has been appointed as Chief Curator of the festival.
  • The festival is organised every year as part of the Konark Dance Festival, to provide a platform for both national and international sand artists to showcase their talent. However, in 2020 international artists are not participating due to the ongoing global Covid-19 pandemic.

2. Kuldeep Handoo appointed as “Fit India” movement ambassador

  • Srinagar born Wushu coach and the first Dronacharya Awardee from the Union Territory of Jammu and Kashmir, Kuldeep Handoo is appointed as the Ambassador of Fit India movement.
  • He won 11 gold medals in National and 6 in International stage, is the Wushu coach of Team India.
  • Under his guidance Athletes have won two gold medals at the world championship and one at the World Cup. He also serves as Inspector of police in Jammu and Kashmir.

Important takeaways for all competitive exams:

  • Founder of FIT India: Suparno Satpathy.

3. India & USA signs MoU on Intellectual Property Cooperation

  • The Government of India and the United States of America (USA) have signed a Memorandum of Understanding (MoU) in the field of Intellectual Property Cooperation.
  • As a part of this MoU, the two sides will develop Biennial Work Plan to implement the MoU which will include the detailed planning for carrying out of the co-operation activities including the scope of action. The Union Cabinet had approved the signing the MoU for the same on 19 February 2020.
  • The MoU was signed between Dr Guruprasad Mohapatra, Secretary, DPIIT and Mr Andrei Iancu, who represented the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and the United States Patent and Trademark Office (USPTO), Department of Commerce of the United States of America respectively.

4. RBI Monetary Policy: Policy Rate unchanged

  • The six-member Monetary Policy Committee of the Reserve Bank of India (RBI), headed by Governor Shaktikanta Das, has decided to maintain the status quo on policy rate amid sticky rate of inflation.
  • At this point, the repo rate or the rate at which RBI lends to banks stands unchanged at 4 per cent.
  • The reverse repo rate also stayed unchanged at 3.35 per cent. The MPC committee members voted unanimously in favour of the decision.

The key decisions taken in the Monetary Policy Committee meeting are:

  • The repo rate under the liquidity adjustment facility (LAF) has been kept unchanged at 4.00%.
  • The reverse repo rate under the LAF has been kept unchanged at 3.35%.
  • The marginal standing facility (MSF) rate and the Bank Rate have been kept unchanged at 4.25%.

RBI Monetary Policy Highlights & Key Decisions:

  • Governor Shaktikanta Das proposes to put in place criteria for NBFC dividend distribution, introduces risk-based audit in large NBFCs & co-op banks.
  • RTGS will soon be made 24X7 in the next few days.
  • The business sentiment of manufacturing firms is gradually improving.
  • CPI inflation is seen at 6.8% for Q3 and 5.8% for Q4.
  • Real GDP growth for FY21 is projected at -7.5%. Q3 FY-21 GDP is seen at +0.1% while Q4 FY-21 GDP is seen at +0.7%.
  • Corporate bond spreads have narrowed to pre-covid levels.
  • RBI proposes to enhance limits for contactless card payments from ₹2000 to ₹5000 from Jan 2021.
  • On-tap Targeted Long Term Repo Operations (TLTRO) will be expanded to cover other stressed sectors in tandem with Emergency Credit Line Guarantee Scheme (ECLGS) scheme.

5. Reliance Industries tops Fortune India 500 Ranking 2020

  • Reliance Industries Ltd (RIL) has topped the 2020 Fortune 500 list of Indian companies, released.
  • The revenue of RIL clocked Rs 615,854.00, accounting for 7% of cumulative revenues and 11 per cent profit of the companies.
  • The country’s biggest oil firm, Indian Oil Corporation Ltd (IOC), bagged the second spot, followed by Oil and Natural Gas Corporation (ONGC) at the third position.
  • The list was published by Fortune India, which is part of the Kolkata-based RP Sanjiv Goenka Group.

6. HCL’s Roshni Nadar tops Kotak Wealth-Hurun wealthy women list 2020

  • Chairperson of HCL Technologies, Roshni Nadar Malhotra has topped the list of wealthiest women in India, according to the second edition of ‘Kotak Wealth Hurun–Leading Wealthy Women’ report.
  • The report is compiled by Kotak Wealth Management, a division of Kotak Mahindra Bank, and Hurun India.
  • Kiran Mazumdar-Shaw of Biocon and Leena Gandhi Tewari of USV are at the second and third rank respectively in the Kotak Wealth Hurun wealthy women list 2020.

7. Manipur’s Nongpok Sekmai Police Station best in India

  • The Nongpok Sekmai Police Station in Manipur topped the list of best police stations in India, while Sooramangalam All Women Police Station at Salem, Tamil Nadu was adjudged the second best police station in the country.
  • The Kharsang PS, Arunachal Pradesh‘s Changlang district was adjudged the country’s third-best police station.

Here is the list of Top 5 Police Stations for 2020:

StateDistrictPolice Station
ManipurThoubalNongpok Sekmai
Tamil NaduSalem City       AWPS-Suramangalam
Arunachal PradeshChanglangKharsang
ChhattisgarhSurajpurJhilmili (Bhaiya Thana)
GoaSouth GoaSanguem

8. England’s Dawid Malan achieves highest-ever rating points in T20I

  • Dawid Malan of England has attained the highest-ever rating points for batsmen in the MRF Tyres ICC Men’s T20I Player Rankings.
  • The 33-year-old Malan has reached 915 points, and thus became the first player to cross the 900-point mark in the format.
  • Before him, Australia’s Aaron Finch reached exactly 900 points in July 2018.
  • Babar Azam (871) of Pakistan and Aaron Finch (835) of Australia is second and third in the list.
  • India’s KL Rahul is at fourth position, while Virat Kolhi’s rank has dropped to 9th in the list.

9. Indian Navy Day: 04 December

  • In India, December 4 is observed as the National Navy Day every year, to celebrate the achievements and role of the naval force to the country.
  • The theme of Navy Day 2020 is “Indian Navy Combat Ready, Credible & Cohesive”.
  • The day is marked in recognition of the launch of Operation Trident during the Indo-Pakistan war in 1971.
  • During Operation Trident, on December 4 in 1971, the Indian Navy sank four Pakistani vessels and also killed over 500 Pakistani Navy personnel, meanwhile, the Indian side suffered no losses.
  • The Indian Navy is the marine branch of the Indian Armed Forces and is led by the President of India as Commander-in-Chief. The Maratha Emperor, Chhatrapati Shivaji Bhosle of the 17th century is considered as “Father of the Indian Navy”.

Important takeaways for all competitive exams:

  • Chief of Naval Staff: Admiral Karambir Singh.
  • Indian Navy Founded: 26 January 1950

10. International Day of Banks: 4 December

  • International Day of Banks is observed globally on the 4th of December.
  • On 19 December 2019, the UN General Assembly adopted resolution 74/245, which designated 4 December as the International Day of Banks.
  • The day is celebrated to the recognition of the significant potential of multilateral development banks and other international development banks in financing sustainable development and providing know-how, and also in recognition of the vital role of the banking systems in the Member States in contributing to the improvement of the standard of living.

11. World’s greatest athlete-turned actor Rafer Johnson passes away

  • American decathlete and film actor, Rafer Johnson, who was 1960 Olympic gold medalist in the decathlon, has passed away.
  • After he retired from athletics, Johnson turned to act and appeared in a number of films, including the James Bond film Licence to Kill in 1989.

12. Former PM of Pakistan Zafarullah Jamali passes away

  • The 15th Prime Minister of Pakistan, Zafarullah Khan Jamali passed away. He served as PM from November 2002 to June 2004 for a duration of 1 Year, 7 Months and 3 days.
  • He is the first politician from Balochistan to become Prime Minister.
  • Jamali served the country when former military dictator Pervez Musharraf was the President of the country.
  • As PM, Jamali vowed to sign a peace agreement and cease-fire in the disputed Kashmir region. In 2004, Jamali made the first high-level visit from Pakistan to Afghanistan after the fall of the Taliban government in 2001.

13. Former French President Valéry Giscard d’Estaing passes away

  • The former President of France, Valery Giscard d’Estaing has passed away at the age of 94, from the complications of coronavirus.
  • He had served as the third president of the Republic of France from 1974 to 1981.
  • He was born on 2nd February 1926 in Koblenz, French-occupied Germany (now Germany).
  • Giscard founded the Union for French Democracy, a centre-right political party in 1978 to counter the Gaullist preponderance over the political right in France.
  • He lowered the voting age from 21 to 18 and he also liberalised the laws on divorce, abortion and contraception during his tenure as the President.

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