According to World Bank report titled ‘Beaten or Broken? Informality and Covid-19 in South Asia’, prolonged closure of schools in India could cost $400bn in future earnings. Report stated that around 55 lakh students may drop out of the education system.
World Bank's HQs: Washington D.C., US;
Founded: July 1944.
PM released the autobiography of Dr. Balasaheb Vikhe Patil titled ‘Deh Vechwa Karani’ which means dedicating one’s life for a noble cause & renamed the Pravara Rural Education Society as Loknete Dr. Balasaheb Vikhe Patil Pravara Rural Education Society.
Pravara Rural Education Society was established in 1964.
Multi-national food & beverage major PepsiCo is setting up a greenfield potato chips production unit in UP with an investment of ₹814cr. MoU was signed by PepsiCo to set up this project at UP Investors Summit-2018. Unit is being set up in Kosi – Mathura.
Uttar Pradesh's Capital: Lucknow;
CM: Yogi Adityan.
Each year on 14 October, members of IEC, ISO & ITU celebrate World Standards Day for paying tribute to the collaborative efforts of thousands of experts worldwide who develop the voluntary technical agreements that are published as International Standards
2020 Theme: Protecting the planet with standards
Microsoft has partnered with All India Council For Technical Education to empower learners and educators in new-age technologies, including artificial intelligence (AI), Internet of Things (IoT), data science, and cloud computing.
AICTE Founded: November 1945;
HQs: New Delhi.
International Monetary Fund projected India’s GDP to plunge in FY21 by 10.3%, revised down since its June forecast of 4.5% drop, reflecting a severe-than-anticipated contraction in economic activities in the 1st quarter as a result of nationwide lockdown
IMF HQs: Washington D.C., U.S;
Founded: 27 December 1945.
IIT Madras have developed a sustainable antimicrobial wrapping material that can prevent packaged food contamination by bacteria and is biodegradable. Films developed by an IIT team were made with polymeric blends containing starch, polyvinyl alcohol, etc.
At present, there are 23 IITs in India.
Export-Import Bank of India on behalf of GOI has extended a Line of Credit of $400mn soft loan to Maldives to finance a connectivity project in the nation of islands. Exim Bank has extended 3 LoCs worth a cumulative $1.2bn to Maldives on behalf of India.
Maldives Capital: Malé;
Currency: Maldivian rufiyaa.
Kaumudi Munshi, leading singer of Gujarati Sugam Sangeet, known as the "Nightingale of Gujarat", passed away at the age of 93. Munshi was trained under legendary thumri exponent, Siddheshwari Devi. For 5 years, she trained for ghazals under Taj Khan.
Sarojini Naidu is known as the Nightingale of India.
RBI revealed that Digital payments have grown at a compounded annual growth rate (CAGR) of 55.1% between FY16-FY20. The transactions grew from 593.61 crore in the year to March 2016 to 3,434.56 crore in the year to March 2020.
HQs: Mumbai;
Founded: 1 April 1935.
Axis Bank in collaboration with Google Pay & Visa launched ACE Credit Card with aim of increasing participation of users in digital economy. For essential use cases, including recharges & bill payments made via Google Pay users can earn a cashback of 5%.
Axis Bank CEO: Amitabh Chaudhry;
HQs: Mumbai;
Founded: 1993.
LA Lakers defeated Miami Heat to win the NBA finals in six games. This is LA Lakers' first NBA title win since late Kobe Bryant's final title with them a decade ago. LeBron James was named Most Valuable Player of the NBA finals for a fourth time.
NBA Commissioner: Adam Silver;
Founded: 1946.
To provide flexibility to exporters in realisation of export proceeds, RBI has discontinued the system-based automatic caution-listing of exporters. Export Data Processing & Monitoring System, Caution/De-caution Listing of exporters was automated in 2016.
25th RBI Governor: Shaktikanta Das.
Bihar Minister for Backward and Extremely Backward Classes Welfare Vinod Singh passed away. Mr. Singh, 50, was BJP MLA from Pranpur Assembly constituency of Katihar district in northeast Bihar. He has been elected MLA thrice from the constituency.
Bihar CM: Nitish Kumar;
Capital: Patna.
Prince William & Sir David Attenborough has launched Earthshot Prize, which offers £50m in funding for solutions to environmental & climate crises. Aim of the prize is to provide an incentive to find solutions to repair the planet over the next decade.
5 £1m prizes will be awarded every year.
UNDRR in its report entitled "The Human Cost of Disasters 2000-2019" stated that Climate change is largely to blame for a near doubling of natural disasters in past 20 yrs. The Report did not touch on biological hazards & disease-related disasters.
7,348 major disaster events had occurred between 2000 and 2019
Mastercard announced a partnership with Signzy, a RegTech startup, to enable video-based KYC solutions for its banking customers. This will allow Mastercard to provide a completely paperless, remote, and secure onboarding solution for end-users.
Mastercard CEO: Ajaypal Singh Banga;
HQs: New York, US.
Govt has selected Hughes India to connect 5,000 village panchayats in border & Naxal-affected states and island territories with satellite broadband under BharatNet project. Hughes will enable Internet service using capacity from ISRO's GSAT-19 and GSAT-11
The completion of the project is expected by March 2021.
Ministry of Food Processing Industries has agreed to extend a subsidy of 50% on transportation of notified fruits & vegetables through Kisan Rail trains, under 'Operation Greens - TOP to Total.' Ministry will initially provide ₹10cr to operate scheme.
The Fund will be deposited with South Central Railway.