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Thursday, October 1, 2020

DAILY GK 1 OCT 2020

 DAILY GK 1 OCT 2020

 

1. PRESIDENT GIVES ASSENT FOR TAXATION AND OTHER LAWS BILL, 2020

·   President of India, Ram Nath Kovind gave his assent to the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 which will amend 5 Acts viz. the Income-tax Act, 1961, Central Goods and Services Tax Act, 2017, Finance Act, 2019, the Direct Tax Vivad se Vishwas Act, 2020 and the Finance Act, 2020.

·   Under this bill the provision of Incom Tax (IT) Act, 1961 has amended by making tax features of Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) at par with Prime Minister’s National Relief Fund.

 

2. THIRD G20 SHERPA MEETING

·   G20 Sherpa Meeting took place virtually under Saudi Arabia’s Presidency.

·   The meeting discussed the actions taken by the forum for tackling the COVID-19 Pandemic. This is the 3rd edition of G20 Sherpa Meeting.

·   Suresh Prabhu, Member of Parliament, Rajya Sabha represented India at the meeting.

·   He is India’s Sherpa (Emissary) to G7 and G20.

·   2020 theme– Realizing Opportunities of the 21st Century for All

·   Chairman– Saudi Arabian King Salman bin Abdulaziz Al Saud (2020)

 

3. ‘DIGITAL SURAKSHA GROUP INSURANCE’

·   Flipkart and Bajaj Allianz General Insurance Company partnered to offer ‘Digital Suraksha Group Insurance’ for customers who wish to cover themselves against financial losses resulting from cyber-attacks, cyber frauds, or other such malicious activities on various online platforms.

·   Digital Suraksha Group Insurance will be introduced on Flipkart’s platform.

 

4.  RBI DEFERS BASEL III PROVISIONS AMID COVID UNCERTAINTY

·   RBI deferred implementation of provisions made under Basel III capital due to uncertainty related to Covid crisis. In this regard, RBI will repel the final tranche of the capital conservation buffer (CCB) and the implementation of net stable funding ratio (NSFR) by six months i.e. April 1, 2021.

·   To further aid the state governments from financial problems, RBI extended Ways and Means Advances (WMA) Limits and overdraft (OD) regulations for states and Union Territories (UTs) by six months i.e. till March 31, 2021.

 

5. SHEKHAR KAPUR APPOINTED AS THE PRESIDENT OF FTII SOCIETY

·   Ministry of Information and Broadcasting(MIB) announced the appointment of Renowned Filmmaker Shekhar Kapur (74 years) as the new President of Film and Television Institute of India (FTII) Society and Chairman of FTII Governing Council which runs the FTII, an autonomous film School under the MIB at Pune, Maharashtra. His tenure will run till March 2023.

 

6. INDIA SUCCESSFULLY TEST FIRES BRAHMOSMISSILE

·   India successfully test fired the surface-to-surface Supersonic Cruise Missile BrahMos with a Strike Range of over 400 Kilometers from Integrated Test Range (ITR) at Chandipur, Odisha. 

·   It was jointly conducted by Defence Research and Development Organisation (DRDO) & BrahMos Aerospace.

·   It was test fired with indigenous booster, airframe section, propulsion system, power supply and many other major indigenous components.

 

 

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