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Wednesday, August 5, 2020

DAILY GK 5 AUG 2020

DAILY GK 5 AUG 2020

1. DEFENCE PRODUCTION AND EXPORT PROMOTION POLICY 2020

·       Ministry of Defence (MoD) publicized a draft ‘Defence Production & Export Promotion Policy (DPEPP) 2020 for public feedback by August 17, 2020 after which the policy would be promulgated by the MoD.

·       The policy aims to achieve a manufacturing turnover of $25 bn or Rs 1,75,000 crore, including exports of $5 bn or Rs 35,000 Crore in aerospace and defence goods and services by 2025.

·       The DPEPP 2020 is MoD’s overarching guiding document for providing significant thrust to defence production for self-reliance and exports.

·       Currently, FDI policy for Defence sector, FDI was allowed under automatic route up to 49% and above 49% through government route.

 

2. LISTED ENTITIES GET 3 YEARS TO MEET CRITERIA OF MINIMUM 25% PUBLIC SHAREHOLDING

·       In order to provide more time to the listed entities to meet criteria of minimum public shareholding (MPS) of 25%, the Centre Government has made changes in the Securities Contracts (Regulation) Rules, 1957 in rule 19A, in sub-rule (1), where the words “two years” substituted by words “three years”.

·       Therefore, listed entities get one more year to comply with the rules of MPS, benefitting more than three dozen PSUs (public sector undertakings) who have been unable to meet this requirement amid COVID-19.

 

3. ONE NATION ONE RATION CARD SCHEM

·       With effect from August 1, 2020, 3 states of Manipur, Nagaland and Uttarakhand, and one Union Territory of Jammu & Kashmir (J&K) have joined the One Nation, One Ration Card (ONORC) platform, increasing the total number of states/UTs under this scheme to 24.

·       This information has been provided by Union Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan while reviewing the progress of ONORC plan.

·        The addition of above 4 states/UTs has ensured food security to 65 Crore (80%) of total National Food Security Act (NFSA), 2013 population for receiving food grains from any Fair Price Shop (FPS) in 24 States/UT, under the scheme.

 

4. NATIONAL BANK OF BAHRAIN SELECTS INFOSYS FINACLE

·       National Bank of Bahrain(NBB) and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced that the bank has decided to adopt the Finacle Cash Management Suite to digitally transform its transaction banking business.

·        This partnership is a part of NBB’s digital transformation, with the upgrades provided by the suite to equip the bank with a modern system that will provide simple and seamless service to the clients.

 

5. SUNIL YDV SS RECEIVED THE KARMAVEER CHAKRA OF UN

·       The Karmaveer Chakra Award instituted by the United Nations(UN) and International Confederation of NGO (iCONGO) was awarded to 23 years old Sunil Ydv SS, the founder and CEO of SS motivation channel on Telegram for his contribution to the society through “SS Motivation”, a Telegram Channel at the ReX ConcLIVE hosted at Indian Institute of Technology- Delhi(IIT-D).

·       Through the SS Motivation channel Sunil addressed various social issues and motivated numerous people.

6. NEXT MD & CEO OF HDFC BANK

·       The Reserve Bank of India(RBI) has approved Sashidhar Jagdishan as the next Managing Director(MD) and Chief Executive Officer(CEO) of HDFC Bank for a period of 3 years, effective from the date of taking charge i.e., October 27, 2020 under Section 35B of the Banking Regulation Act 1949. 

·       He will succeed Aditya Puri, the bank’s longest serving CEO(26 years- since September 1994). 

 


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