DECEMBER 2020 Flashcards
Honey Farmer Producer Organisation (FPO)
Programme?
Programme aims to address the issues faced
by the beekeeping industry and also promote honey
production in the country.
Ministry of Agriculture and Farmers’
Welfare, (Narendra Singh Tomar).
the Central Sector Scheme for Formation & Promotion
of new 10,000 FPOs.
Government has approved 2,200 FPOs for the
current financial year 2020-21.
The task of creating these FPOs has been given to
Nabard (600 FPOs), Small Farmers’ Agribusiness
Consortium (500), National Cooperative Development
Corporation (500) and NAFED which will support 50
commodity-specific FPOs and some State-level
organisations.
Ministry responsible for Honer FPO programme
Ministry of Agriculture and Farmers’
Welfare,
The task of creating these FPOs has been given to?
Nabard (600 FPOs), Small Farmers’ Agribusiness Consortium (500), National Cooperative Development Corporation (500) and NAFED which will support 50 commodity-specific FPOs and some State-level organisations.
Narendra Singh Tomar virtually inaugurated
Honey Farmer Producer Organisation (FPO)
Programme in five states, for producing honey.These 5 FPOs will be set up by the National Agricultural
Cooperative Marketing Federation of India Limited
(NAFED). They will be set up at?
East Champaran (Bihar) Morena (Madhya Pradesh) Bharatpur (Rajasthan) Mathura (Uttar Pradesh) Sunderbans (West Bengal)
Narendra Singh Tomar virtually inaugurated
Honey Farmer Producer Organisation (FPO)
Programme in five states, for producing honey.These 5 FPOs will be set up by ?
National Agricultural
Cooperative Marketing Federation of India Limited
(NAFED).
Government has approved ____________ FPOs for the current financial year 2020-21.
2,200
What are FPOs?
a Producer Organisation (PO) where the members are farmers.
Small Farmers’ Agribusiness Consortium (SFAC) is providing support for the promotion of FPOs.
FPOs help in the collectivization of such
small,
marginal and
landless farmers
in order to give them the collective strength to deal with such issues.
Members of the FPO will manage their activities together in the organization to get better access to technology, input, finance and market for faster enhancement of their income.
Support by the Government for FPO?
Central Sector Scheme titled “Formation and Promotion of Farmer Producer Organizations (FPOs)” with a clear strategy and committed resources to form and promote 10,000 new FPOs.
What are the essential features of a PO?
It is formed by a group of producers for either farm or non-farm activities.
It is a registered body and a legal entity.
Producers are shareholders in the organization.
It deals with business activities related to the primary produce/product.
It works for the benefit of the member producers.
A part of the profit is shared amongst the producers.
Rest of the surplus is added to its owned funds for business expansion.
Apiculture ?
the care and management of honey bees for the production of honey and wax. In this method, bees are bred commercially in apiaries, an area where a lot of beehives can be placed.
Monetary Policy Committee ?DEC 2020
under the liquidity adjustment facility
the repo rate ( 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 marginal standing facility (MSF) rate and the
Bank Rate have been kept unchanged at 4.25%.
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%
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) schem
the repo rate ?
Repo rate refers to the rate at which commercial banks borrow money by selling their securities to the Central bank of our country i.e Reserve Bank of India (RBI) to maintain liquidity, in case of shortage of funds or due to some statutory measures. It is one of the main tools of RBI to keep inflation under control.
the repo rate ( the rate at which RBI lends to banks)
stands unchanged at 4 per cent.
Reverse Repo Rate ?
Reverse Repo Rate is a mechanism to absorb the liquidity in the market, thus restricting the borrowing power of investors.
Reverse Repo Rate is when the RBI borrows money from banks when there is excess liquidity in the market. The banks benefit out of it by receiving interest for their holdings with the central bank.
The reverse repo rate
also stayed unchanged at 3.35 per cent.
During high levels of inflation in the economy, the RBI increases the reverse repo. It encourages the banks to park more funds with the RBI to earn higher returns on excess funds. Banks are left with lesser funds to extend loans and borrowings to consumers.
Liquidity Adjustment Facility (LAF)?
a tool used in monetary policy by the RBI, that allows banks to borrow money through repurchase agreements (repos) or for banks to make loans to the RBI through reverse repo agreements.
Long term repo operation (TLTRO)?
The LTRO is a tool under which the central bank provides one-year to three-year money to banks at the prevailing repo rate, accepting government securities with matching or higher tenure as the collateral.
How is TLTRO different from LAF and MSF?
While the RBI’s current windows of liquidity adjustment facility (LAF) and marginal standing facility (MSF) offer banks money for their immediate needs ranging from 1-28 days, the LTRO supplies them with liquidity for their 1- to 3-year needs. LTRO operations are intended to prevent short-term interest rates in the market from drifting a long way away from the policy rate, which is the repo rate.
Emergency Credit Line Guarantee Scheme (ECLGS)?
Under the Scheme, 100% guarantee coverage to be provided by National Credit Guarantee Trustee Company Limited (NCGTC) for additional funding of up to Rs. 3 lakh crore to eligible MSMEs and interested MUDRA borrowers.
The credit will be provided in the form of a Guaranteed Emergency Credit Line (GECL) facility.
The Scheme would be applicable to all loans sanctioned under GECL Facility during the period from the date of announcement of the Scheme to 31.10.2020.
Tenor of the loan under Scheme shall be four years with a moratorium period of one year on the principal amount.
No Guarantee Fee shall be charged by NCGTC from the Member Lending Institutions (MLIs) under the Scheme.
Interest rates under the Scheme shall be capped at 9.25% for banks and FIs, and at 14% for NBFCs.
RBI orders ___________ Bank to halt its digital
launches?
HDFC
WHY RBI orders HDFC Bank to halt its digital
launches?
power failure in the primary data centre.
______________has topped the 2020
Fortune 500 list of Indian companies,
Reliance Industries Ltd (RIL)
The FORTUNE 500 list was published by Fortune India, which
is part of the Kolkata-based___________ GROUP
RP Sanjiv Goenka Group
RANK 2 AND 3 IN FORTUNE 500 LIST?
Indian Oil
Corporation Ltd (IOC), bagged the second spot, followed
by
Oil and Natural Gas Corporation (ONGC) at the third
position.
top 10 companies on the 2020
Fortune India-500 list
. Reliance Industries
- Indian Oil Corporation
- Oil and Natural Gas Corporation
- State Bank of India
- Bharat Petroleum Corporation
- Tata Motors
- Rajesh Exports
- Tata Consultancy Services
- ICICI Bank
- Larsen & Toubro
Indian Navy Day:
04 December
The theme of Navy Day
2020 is?
“Indian Navy Combat Ready, Credible &
Cohesive”.
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
“Father of the Indian Navy”.
Chhatrapati Shivaji Bhosle
Atmanirbhar Bharat Rojgar Yojana (ABRY)
to boost
employment in the formal sector by encouraging the
businesses to do fresh hiring amid the pandemic.
will also incentivize the creation of new employment
opportunities under Atmanirbhar Bharat Package 3.0.
The scheme will provide subsidy for two years in
respect of new employees engaged on or after
October 1, 2020, and up to June 30, 2021.
The government will pay both 12 per cent
employees’ contribution and 12 per cent employers’
contribution i.e. 24 per cent of wages towards EPF in
respect of new employees in establishments
employing up to 1,000 employees for two years
It will pay only employees’ share of EPF contribution
i.e. 12 per cent of wages in respect of new employees
in establishments employing more than 1,000
employees for two years.
The Cabinet has approved an expenditure of ______________ FOR ABRY
₹ 1,584
crores for the current financial year and ₹ 22,810
crores for the entire scheme period from 2020 to
2023.
EPF and ABRY provisions?
The government will pay both 12 per cent
employees’ contribution and 12 per cent employers’
contribution i.e. 24 per cent of wages towards EPF in
respect of new employees in establishments
employing up to 1,000 employees for two years
It will pay only employees’ share of EPF contribution
i.e. 12 per cent of wages in respect of new employees
in establishments employing more than 1,000
employees for two years.
who is eligible for ABRY?
An employee drawing monthly wage of less than ₹
15,000 who was not working in any establishment
registered with the Employees’ Provident Fund
Organisation (EPFO) before October 1, 2020, and did
not have a Universal Account Number (UAN) or EPF
Member account number prior to October 1, 2020,
will be eligible for the benefit.
Any EPF member possessing Universal Account
Number (UAN) drawing monthly wage of less than ₹
15,000 who made exit from employment during
COVID pandemic from March 1, 2020, to September
30, 2020, and did not join employment in any EPF
covered establishment up to September 30, 2020
will also be eligible to avail benefit.
Quarterly Return
filing & Monthly Payment of Taxes (QRMP)’ scheme for
small taxpayers under the GST system IS?
Persons with aggregate turnover up to Rs 5 crore
would be allowed to furnish their GSTR-1 and GSTR3B returns on a quarterly basis, beginning JanuaryMarch quarter of 2020-21. Quarterly GSTR-1 and
GSTR-3B can also be filed through an SMS.
Taxpayers can also make GST payments every month,
through challan, with effect from January 1, 2021.
This can be done either by self-assessment of monthly
liability or 35% of net cash liability of previous filed
GSTR-3B of the quarter.
Under this, the registered person or a taxpayer will
furnish a return for every quarter, under sub-rule (1)
of rule 61A of the Central Goods and Services Tax
Rules, 2017 and pay the monthly tax under subsection (7) of section 39 of the same Act.
After the above changes, the act is named as the
Central Goods and Services Tax (Thirteenth
Amendment) Rules, 2020
_____________ and _____________bag
Sportsperson of the Year awards
Bajrang Punia (Freestyle-Wrestling) and Elavenil Valarivan (Shooting),
The historical fort cities of ______and_______ in
Madhya Pradesh have been included in the list of
UNESCO’s world heritage cities under its The World
Heritage Cities Programme. U
Gwalior and Orchha
The World
Heritage Cities Programme.
Under the plan, UNESCO
will suggest best measures and resources for the
development and beautification of these places as per the
UNESCO Historic Urban Landscape recommendations.
The inclusion will lead to the beautification of both
cities by the MP Tourism Department in collaboration
with UNESCO.
In this regard, UNESCO team will visit the state in
2021 and will prepare a master plan for their
development and conservation under the Historic
Urban Landscape recommendation.
Chemical treatment of historic spots like Mansingh
Palace, Gujri Mahal and Sahastrabahu Temple will
also be done so that art inscribed on them will
become more visible.
Guards will also be deployed at both places to
welcome tourists as per the Indian traditions
With this Inclusion(gwalior and orchha), the total number of UNESCO World
Heritage Cities of India will increase to
________?
40
Gwalior was established in the 9th century and ruled
by ____________?
Gurjar Pratihar Rajvansh,
Tomar, Baghel Kachvaho
and Scindias.
Orchha means
‘hidden palace
famous spots in Orchha
The famous spots in the town are Raj Mahal, Jehangir Mahal, Ramraja Temple, Rai Praveen Mahal, and Laxminarayan Mandir.
famous spots in Gwalior
The famous spots include Sun Temple, Jal Vilas Palace, Memorial of Tansen, Tigra Dam, 15thcentury Gujari Mahal Palace among others.
__________and ___________ jointly named Time’s
‘Person of the Year’ 2020
Joe Biden, Kamala Harris
Time magazine has named____________ as its Entertainer of the Year,
Korean
pop group BTS
basketball star _________ as Athlete of the Year.
LeBron James
Zoom founder________ was aptly named
Businessperson Of The Year,
Eric Yuan
India ranks _____in Human Development Index
2020
131 among 189 countries i
who release Human Development Index report
United Nations Development Programme (UNDP),
Toppers in Human Development Index report 2020
Norway topped the index, followed by Ireland, Switzerland, Hong Kong and Iceland,
lowest rank in HDI 2020
Niger is the lowest ranked country at 189, placed
among Low human development category, with a
score of 0.394
What is Human Development Index?
The Human Development Index measures average
achievement of the countries in 3 basic dimensions of
human development i.e. life expectancy, education and
per capita income.
UNEP announces 2020 Champions of the Earth
Award.
The Champions of the Earth Award is presented in 5
categories?
- Lifetime Achievement,
- Inspiration and Action,
- Policy Leadership,
- Entrepreneur Vision,
- Science and Innovation.
UNEP announces 2020 Champions of the Earth
Award
Policy Leadership:
Prime Minister Frank Bainimarama of Fiji
UNEP announces 2020 Champions of the Earth
Award
Inspiration and Action:
Yacouba Sawadogo (Burkina Faso),
UNEP announces 2020 Champions of the Earth
Award
Inspiration and Action:
Nemonte Nenquimo (Ecuador)
UNEP announces 2020 Champions of the Earth
Award
Science and Innovation:
Dr Fabian Leendertz (Germany
UNEP announces 2020 Champions of the Earth
Award
Entrepreneur Vision:
Mindy Lubber (USA)
UNEP announces 2020 Champions of the Earth
Award
Lifetime Achievement Award:
Professor Robert D. Bullard (USA)
Champions of the Earth award:?
The UN Environment Program (UNEP) is presenting the
Champions of the Earth Award since 2005, to inspire and
motivate more people to act for nature. The award
recognizes outstanding environmental leaders from the
public and private sectors, and from civil society for their
pioneering initiatives aimed at healing the planet amid
natural and man-made threats and whose activities have
had a positive impact on the environment
UNESCO launches ________ award on
creative economy
Bangabandhu
AMOUNT OF UNESCO Bangladesh Bangabandhu Sheikh Mujibur Rahman
International Prize for the “Creative Economy
The award will be given every two years with
$50,000 prize money – three times in six years. The
renewal of the award will be discussed later
India ranks ______in Human Freedom Index 2020
111 out of 162 countries
TOPER AND LOWEST RANKER IN HUMAN FREEDOM INDEX
The first three spots have been bagged by New Zealand,
Switzerland and Hong Kong. The United States and the
United Kingdom are tied at the 17th spot on the index.
War-torn Syria ranked the last on the list
Human Freedom Index:?
Human Freedom Index was published by American think
tank Cato Institute and Fraser Institute in Canada. The
index takes into account 76 indicators of personal, civil,
and economic freedoms to rank 162 countries from 2008
to 2018. The institutes noted that the world has seen a
notable decline in personal freedom since 2008.
_________has released a white paper titled ‘Vision
2035: Public Health Surveillance in India
NITI Aayog
The white paper lays out India’s vision of 2035 for
public health surveillance through the integration of
the three-tiered public health system into____________
Ayushman
Bharat
India
finished ________in the overall Medals List, Germany topped
the list with 16 medals. The Cologne Boxing World 2020
was hosted by the European Boxing Confederation
(EUBC)
2nd
The World Bank has approved 4 India projects worth
over _________
$800 million.
The World Bank has approved 4 India projects worth
over $800 million.
The projects that have been approved are
- $400 million Second Accelerating India’s COVID-19
Social Protection Response Program. - $100 million Chhattisgarh Inclusive Rural and
Accelerated Agriculture Growth Project (CHIRAAG). - $68 million Nagaland: Enhancing Classroom
Teaching and Resources Project.
4. $250 million Second Dam Improvement and Rehabilitation Project (DRIP-2)
$400 Million Second Accelerating India’s COVID-19
Social Protection Response Program:
The project supports and protects India’s efforts to
provide social assistance to poor and vulnerable
households, severely affected by the COVID-19
pandemic.
It is the 2nd operation in a programmatic series of 2.
The 1st operation of $750 million was approved in
May 2020. The Program builds on the outcomes
achieved by the 1st operation.
CHIRAAG project:
Amount sanctioned: USD 100 million
CHIRAAG aims at promoting nutrition-supportive
agriculture for tribal households in Chhattisgarh
It will develop sustainable production systems that
allow tribal households in remote areas of
Chhattisgarh to practice round-the-year production of
diversified and nutritious food.
It will be implemented in the southern tribal-majority
region of the state where a large population is
undernourished and poor.
The project will benefit over 180,000 households
from about 1,000 villages in eight districts of
Chhattisgarh
Nagaland: Enhancing Classroom Teaching and
Resources Projec
Amount approved: USD 68 million
It will improve classroom instruction; create
opportunities for the professional development of
teachers, and build technology systems to provide
students and teachers with more access to blended
and online learning as well as allow better monitoring
of policies and programs.
It will enhance overall quality education in the state
Dam Improvement and Rehabilitation Project (DRIP2):
Financial aid approved: USD 250 million.
DRIP-2 will improve the safety and performance of
existing dams across various states of India, and
strengthen dam safety by building dam safety
guidelines; bring in global experience; and introduce
newer technologies.
Good Governance Day:
25 December
In this day nation
celebrates the birth anniversary of Bharat Ratna and
former-Prime Minister Atal Bihari Vajpaye
ICC Spirit of Cricket Award of the Decade:
MS
Dhoni (India)
Sir Garfield Sobers Award for ICC Male Cricketer
of the Decade: AND
ICC Men’s ODI Cricketer of the Decade
Virat Kohli (India)
Private lender _____has launched an ‘SMS Pay’
functionality on POS terminals, which would allow
merchants to accept contactless and remote payments
from their customers
YES Bank
YES Bank has collaborated with
French payment services company ___________ to
launch the new facility
Worldline
The Reserve Bank of India has announced that the
___________ system will be
made available round the clock on all days of the year
with effect from 00:30 hours on December 14, 2020.
Real Time Gross Settlement (RTGS)
The private lender _______ Bank has launched a new
version of its mobile payment app called iMobile Pay,
to offer payment and banking services to customers of
any bank. The latest version of the app is
interoperable and will now allow payments and other
banking services to even those customers who do not
hold an_______ Bank account.
ICICI
The Reserve Bank of India has cancelled the licence
of ______________ in Maharashtra,
Karad Janata Sahakari Bank Ltd
The Reserve Bank of India has cancelled the licence
of Karad Janata Sahakari Bank Ltd in Maharashtra,
as it does not have adequate capital and earning
prospects. As such, it does not comply with the
provisions of the Banking Regulation Act, 1949.
More than 99 per cent of the depositors of the bank
will get full payment of their deposits from __________________
Deposit
Insurance and Credit Guarantee Corporation
(DICGC).
Bank of Baroda (BoB) has recently launched the___________
Scheme as part of its Baroda
Gold Loan
Atmanirbhar Women
Atmanirbhar Women Scheme
scheme aims to target the self-reliant
woman in India. Under the scheme, the bank is
offering loans at 0.50 per cent concession for women.
The bank under the gold loan scheme is offering agrigold loan at 0.25 per cent concession and for a retail
loan at 0.50 per cent concessioN
_______Bank and ________have joined hands
under a bancassurance partnership
RBL
ICICI Prudential
The Reserve Bank of India (RBI) has decided to set
up an ____________ in Jaipur for the receipt, storage and dispatch
of currency notes
Automated Banknote Processing Centre
ABPC
