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1. India-European Union Agreement on Scientific and Technological Cooperation renewed for next five years (2020-2025)
On July 25, 2020, India and European Union (EU) exchanged Note Verbale to renew its Agreement on Scientific and Technological Cooperation for the next five years (2020-2025) which expired on May 17, 2020. It was initially inked on 23 November 2001 and renewed two times in past in 2007 and 2015. This renewal is on the lines of the decision taken by both nations during the virtual 15th India-EU Summit which was led by Prime Minister Narendra Modi from India’s side.
- The European Union delegation was headed by European Council President Charles Michel and President of the European Commission Ursula von der Leyen
- This extension of agreement will further collaborate in research and innovations based on the principles of mutual benefit and reciprocity and also acknowledge 20 years of cooperation.
Key Points:
-In the last 5 years, 73 joint research projects have been implemented, resulting in around 200 joint research publications & filing of few patents. There have also been 500 exchange visits of researchers & students in this period.
– The last five years also saw of cooperation in addressing the societal challenges such as affordable healthcare, water, energy, food and nutrition.
-The cooperation has been focused on water, green transport, e-mobility, clean energy, circular economy, bio-economy, health, and ICT. Additional areas, such as climate change, sustainable urban development, manufacturing, advanced materials, nanotechnologies and biotechnology, food processing, and ocean research may also be considered in future endeavours.
About European Union (EU):
The Union currently counts 27 EU countries. The United Kingdom withdrew from the European Union on 31 January 2020.
European Parliament president – David-Maria Sassoli
Headquarter– Brussels, Belgium
2. 21st Kargil Vijay Diwas 2020 – July 26
26th July 2020 is celebrated as the 21st Kargil Vijay Diwas which marks the 21st anniversary of India’s victory against Pakistan under Operation Vijay, launched to recapture the Indian Territories captured by the Intruders of Pakistani army in the Kargil Drass sector in 1999.
Background:
26th July of every year is observed as the Kargil Vijay Diwas in the honoured memory of the soldiers who sacrificed their lives in the 1999 Kargil war which took place from 3rd May to 26th July at Kargil, Kashmir and along the Line of control(LoC).
Kargil War:
i.As a part of the Operation Vijay Indian Army evicted the Pakistani intruders from Tiger hill and other posts.
ii.More than 500 officers, soldiers and jawans of Indian army lost their lives in the 3 months conflict.
2020 Events of Kargil Vijay Diwas:
i.Amit Shah, Union Home Minister paid tributes to the martyrs and stated that Kargi Vijay Diwas as the symbol of India’s self-respect, bravery and leadership.
ii.The armed force and the civilians paid tribute to the Indian Army in the Union Territories of Jammu Kashmir and Ladakh.
iii.Floral tributes were paid to the soldiers at the war memorials across the nations.
About Indian Army:
Chief of Army Staff– General Manoj Mukund Naravane
About Ministry of Defence:
Union Minister– Rajnath Singh
Minister of State– Shripad Yesso Naik
3. India extended medical assistance worth about USD 1 million to North Korea under WHO’s anti-tuberculosis programme
On July 24, 2020, on the request of the World Health Organisation (WHO), the Government of India (GoI) has extended medical assistance in the form of anti-tuberculosis medicines worth about US$ 1 million to Democratic People’s Republic of Korea (DPRK).
- It is to be noted that New Delhi’s medical assistance is under the aegis of an ongoing WHO’s anti-tuberculosis programme in North Korea and hence exempted from the sanctions imposed by the United Nations Security Council (UNSC).
The consignment of medicines was handed over by Indian Ambassador to DPRK, Atul Malhari Gotsurve to North Korean Vice Minister for Foreign Affairs, Pak Myong Ho along with a floral basket and a congratulatory letter addressed to the Supreme Leader, Kim Jong Un, on the occasion of the 8th anniversary of conferment of the title of ‘marshal” on him.
Indo-DPRK Relation:
-India had earlier provided North Korea two consignments of food worth $ 1 million each in 2011 and 2016 under the World Food Programme (WFP).
-In May 2018, Vijay Kumar Singh, the then Minister of State for External Affairs (MEA), had embarked on a rare visit to North Korea after two decades when Mukhtar Abbas Naqvi visited in September 1998. He was the Minister of State (MoS) for Information and Broadcasting in Prime Minister Late Atal Bihari Vajpayee’s Government.
About Democratic People’s Republic of Korea (DPRK):
Capital– Pyongyang
Currency– North Korean won
4. First in the World: India builds electrified rail tunnel capable to run double-stack containers
On July 24, 2020, on the request of the World Health Organisation (WHO), the Government of India (GoI) has extended medical assistance in the form of anti-tuberculosis medicines worth about US$ 1 million to Democratic People’s Republic of Korea (DPRK).
- It is to be noted that New Delhi’s medical assistance is under the aegis of an ongoing WHO’s anti-tuberculosis programme in North Korea and hence exempted from the sanctions imposed by the United Nations Security Council (UNSC).
The consignment of medicines was handed over by Indian Ambassador to DPRK, Atul Malhari Gotsurve to North Korean Vice Minister for Foreign Affairs, Pak Myong Ho along with a floral basket and a congratulatory letter addressed to the Supreme Leader, Kim Jong Un, on the occasion of the 8th anniversary of conferment of the title of ‘marshal” on him.
Indo-DPRK Relation:
-India had earlier provided North Korea two consignments of food worth $ 1 million each in 2011 and 2016 under the World Food Programme (WFP).
-In May 2018, Vijay Kumar Singh, the then Minister of State for External Affairs (MEA), had embarked on a rare visit to North Korea after two decades when Mukhtar Abbas Naqvi visited in September 1998. He was the Minister of State (MoS) for Information and Broadcasting in Prime Minister Late Atal Bihari Vajpayee’s Government.
About Democratic People’s Republic of Korea (DPRK):
Capital– Pyongyang
Currency– North Korean won
4. First in the World: India builds electrified rail tunnel capable to run double-stack containers
India builds one kilometer (km) long World’s first electrified rail tunnel that fits double stack containers. It cuts through Aravali mountain on the Western Dedicated Freight Corridor (WDFC) near Sohna, Haryana.
The project is implemented by the DFCCIL (Dedicated Freight Corridor Corporation of India Limited).
The tunnel Breaking was completed on 24, July 2020. The project is expected to complete by the next 12 months.
About the tunnel
i.About 2500 to 500-million-year-old proterozoic rocks were broken to build the tunnel.
ii.The tunnel is capable of running 25 tonne axle load electric goods train with double stack containers that runs at a speed of 100 km per hour (kmph).
iii. The tunnel connects Mewat and Gurgaon districts, Haryana.
iv.One end of the tunnel is at Rewari, Haryana and the other end is at Dadri, Uttar Pradesh (UP).
Dimension
- It is 14.5 meters and 10.5 meters in height (straight portion) and 15 meter wide and 12.5 meter height.
- The D-shape tunnel has a cross section area of 150 square meters, accommodates double line OHE (Overhead Equipment)
- It is also considered to be the biggest railway tunnel in India.
Key Points
i.The WDFC and the Eastern DFC are the two most important projects carried by the Indian Railways in the transportation of freight transportation.
ii.The functions of the two DFC are expected to start by 2021.
Recent Related News
i.Indian Railways installs Automated Ticket Checking and Managing Access Machine, 1st of its Kind at Nagpur station.
About the ministry of Indian Railways:
Union Railway Minister – Piyush Goyal
Chairman Railway board – V.K Yadav
Minister of State – Suresh Channabasappa Angadi
India builds one kilometer (km) long World’s first electrified rail tunnel that fits double stack containers. It cuts through Aravali mountain on the Western Dedicated Freight Corridor (WDFC) near Sohna, Haryana.
The project is implemented by the DFCCIL (Dedicated Freight Corridor Corporation of India Limited).
The tunnel Breaking was completed on 24, July 2020. The project is expected to complete by the next 12 months.
About the tunnel
i.About 2500 to 500-million-year-old proterozoic rocks were broken to build the tunnel.
ii.The tunnel is capable of running 25 tonne axle load electric goods train with double stack containers that runs at a speed of 100 km per hour (kmph).
iii. The tunnel connects Mewat and Gurgaon districts, Haryana.
iv.One end of the tunnel is at Rewari, Haryana and the other end is at Dadri, Uttar Pradesh (UP).
Dimension
- It is 14.5 meters and 10.5 meters in height (straight portion) and 15 meter wide and 12.5 meter height.
- The D-shape tunnel has a cross section area of 150 square meters, accommodates double line OHE (Overhead Equipment)
- It is also considered to be the biggest railway tunnel in India.
Key Points
i.The WDFC and the Eastern DFC are the two most important projects carried by the Indian Railways in the transportation of freight transportation.
ii.The functions of the two DFC are expected to start by 2021.
Recent Related News
i.Indian Railways installs Automated Ticket Checking and Managing Access Machine, 1st of its Kind at Nagpur station.
About the ministry of Indian Railways:
Union Railway Minister – Piyush Goyal
Chairman Railway board – V.K Yadav
Minister of State – Suresh Channabasappa Angadi
5. India ranked 3rd in gaining forest area in world; global employment in forestry led by India: FAO
In accordance with the latest Global Forest Resources Assessment (FRA) 2020 brought out by the Food and Agriculture Organization (FAO) of the United Nations (UN), India has ranked 3rd among the top 10 countries that have gained in forest areas during 2010-2020. FRA 2020 examined the status of, and trends in, more than 60 forest-related variables in 236 countries and territories in the period 1990–2020.
- India reported 0.38% annual gain in forest, or 266,000 ha of forest increase every year at an average. It’s naturally regenerating forest rate was also 0.38% in 2010-20.
- As per the report, the world has a total forest area of 4.06 billion hectares (ha) in 2020, which is 31% of the total land area where India accounts for 2% of total global forest area. Russia has a maximum forest area accounting 20% of global forest area (815 312 ha) followed by Brazil (496 620 ha-12%) & Canada (346 928 ha- 9%).
Findings with respect to India:
-The FRA 2020 has credited the government’s Joint Forest Management programme for the significant increase in community-managed forest areas in the Asian continent. India has been taking up massive afforestation and plantation schemes.
-The forest area managed by local, tribal and indigenous communities in India increased from zero in 1990 to about 25 million ha in 2015.
India’s employment in forestry sector is maximum in world
The assessment examined employment in the forestry sector (including logging) with data from 136 countries that represent 91% of the world’s forests where India reported the maximum employment in the forestry sector in the world.
- Globally, 12.5 million people were employed in the forestry sector. Out of this, India accounted for 6.23 million, or nearly 50%.
Key Points:
-The world has lost 178 million ha of forest since 1990, which is an area about the size of Libya. Africa had the largest annual rate of net forest loss in 2010–2020, at 3.9 million ha.
–The South Asia sub-region reported net forest losses during 1990-2020.
-The Asian continent reported the highest net gain in forest area in 2010-2020 as it recorded 17 million hectares (ha) per year net increase in forests.
About Food and Agriculture Organization (FAO):
Director-General (DG)– Qu Dongyu
Headquarter– Rome, Italy
Recent Related News:
In accordance with the Food and Agriculture Organization (FAO) report, released in March 2020, Peatlands are facing degradation and need to be urgently monitored. Peatlands are wetlands with a thick layer of organic soil and cover only 3% of the global land area, but they store 30% of the world’s soil carbon. In India, peatlands occupy 320–1,000 square kilometres area.
6. RBI Signed USD 400 mn Currency Swap Facility for Sri Lanka
In accordance with the latest Global Forest Resources Assessment (FRA) 2020 brought out by the Food and Agriculture Organization (FAO) of the United Nations (UN), India has ranked 3rd among the top 10 countries that have gained in forest areas during 2010-2020. FRA 2020 examined the status of, and trends in, more than 60 forest-related variables in 236 countries and territories in the period 1990–2020.
- India reported 0.38% annual gain in forest, or 266,000 ha of forest increase every year at an average. It’s naturally regenerating forest rate was also 0.38% in 2010-20.
- As per the report, the world has a total forest area of 4.06 billion hectares (ha) in 2020, which is 31% of the total land area where India accounts for 2% of total global forest area. Russia has a maximum forest area accounting 20% of global forest area (815 312 ha) followed by Brazil (496 620 ha-12%) & Canada (346 928 ha- 9%).
Findings with respect to India:
-The FRA 2020 has credited the government’s Joint Forest Management programme for the significant increase in community-managed forest areas in the Asian continent. India has been taking up massive afforestation and plantation schemes.
-The forest area managed by local, tribal and indigenous communities in India increased from zero in 1990 to about 25 million ha in 2015.
India’s employment in forestry sector is maximum in world
The assessment examined employment in the forestry sector (including logging) with data from 136 countries that represent 91% of the world’s forests where India reported the maximum employment in the forestry sector in the world.
- Globally, 12.5 million people were employed in the forestry sector. Out of this, India accounted for 6.23 million, or nearly 50%.
Key Points:
-The world has lost 178 million ha of forest since 1990, which is an area about the size of Libya. Africa had the largest annual rate of net forest loss in 2010–2020, at 3.9 million ha.
–The South Asia sub-region reported net forest losses during 1990-2020.
-The Asian continent reported the highest net gain in forest area in 2010-2020 as it recorded 17 million hectares (ha) per year net increase in forests.
About Food and Agriculture Organization (FAO):
Director-General (DG)– Qu Dongyu
Headquarter– Rome, Italy
Recent Related News:
In accordance with the Food and Agriculture Organization (FAO) report, released in March 2020, Peatlands are facing degradation and need to be urgently monitored. Peatlands are wetlands with a thick layer of organic soil and cover only 3% of the global land area, but they store 30% of the world’s soil carbon. In India, peatlands occupy 320–1,000 square kilometres area.
6. RBI Signed USD 400 mn Currency Swap Facility for Sri Lanka
Reserve Bank of India (RBI) has agreed to a USD 400 million currency swap facility for Sri Lanka, valid till November 2022. This will help Sri Lanka to meet its short-term international liquidity requirements and to boost its foreign exchange reserves following the economic crisis resulting from COVID-19.This Currency swap agreement was made under the South Asian Association for Regional Cooperation (SAARC) framework.
Technical discussion
i.Recently, India and Sri Lanka held a “technical discussion” on the rescheduling of the bilateral debt repayment through video conference.
ii.Key People: From India, senior officials from the Ministry of External Affairs, Ministry of Finance, and the EXIM Bank interacted with representatives from the Department of External Resources of Sri Lanka.
iii.The next round of technical discussions between the two sides on the rescheduling of debt repayment is expected to be held soon.
Note: Sri Lanka owes USD 960 million to India.
Webinar on ‘Deepening Economic Collaboration between India and Sri Lanka’
i.The government and industry representatives from India and Sri Lanka participated in a webinar on ‘Deepening Economic Collaboration between India and Sri Lanka’.
ii.The webinar is organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKIIRSS)
Key People- Secretary, Ministry of Foreign Affairs, Ambassador Ravinatha Aryasinha and the President of FICCI, Dr. Sangita Reddy and representatives from the Sri Lankan Board of Investment, Tourism Promotion Board, and the Institute of Nanotechnology among others participated in the webinar.
Relationship between India and Sri Lanka
i.India is among the top 5 foreign investors in Sri Lanka, and accounts for 20 % of total Sri Lankan imports. India is the 3rd largest export destination for Sri Lanka
ii.Sri Lanka is one of India’s largest trading partners in SAARC. With India-Sri Lanka Free Trade Agreement in March 2000 in force the trade grew between two countries.
iii.Sri Lanka is among the major recipients of development assistance from the Government of India.
iv.India’s overall commitment to Sri Lanka is about USD 3 billion, out of which around USD 560 million are in grants.
Recent Related News:
i.India and Denmark signed an MOU for developing cooperation in the power sector.
ii.India and Maldives inks 5 MoUs to establish Addu tourism Zone on 5 islands of Addu Atoll in Maldives with a project cost of $2.49 million. In addition, a 6th MoU to set up a bottled water plant at Hoarafushi, an inhabited island in Maldives was also signed.
About Sri Lanka
Capital – Colombo, Sri Jayawardenepura Kotte
Currency– Sri Lankan Rupee
President– Gotabaya Rajapaksa
Prime Minister– Mahinda Rajapaksa
7. Gross NPA of banks may rise to 12.5% by March 2021: RBI Financial Stability Report
In accordance with the 21st issue of Financial Stability Report (FSR), July 2020 by Reserve Bank of India (RBI) released on July 24, 2020, the gross nonperforming assets (GNPA) ratio of all scheduled commercial banks (SCBs) may increase from 8.5% in March 2020 to 12.5% by March 2021 under the baseline scenario; the ratio may escalate to 14.7% under a very severely stressed scenario.
While Public sector banks’ (PSBs) gross bad loans ratio of 11.3% at the end of March, 2020 may increase to 15.2% by March 2021 under the baseline scenario, on the other hand, Private banks may see an increase from 4.2% to 7.3%.
Key Points:
–Capital to risk-weighted assets ratio (CRAR) of SCBs declined to 14.8% in March 2020 from 15% in September 2019. This ratio could slide to “13.3% in March 2021 under the baseline scenario and to 11.8% under the very severe stress scenario.
–Gross non-performing asset (GNPA) ratio of SCBs declined to 8.5% from 9.3%.
–Provision coverage ratio (PCR) of SCBs improved to 65.4% from 61.6% over this period.
–Gross Domestic Product (GDP) will decline to 8.9% in 2020-21. In the baseline case, the GDP is assumed to contract 4.4%.
–System-level capital adequacy ratio (ratio of capital to advances) may drop from 14.6% in March 2020 to 13.3% by March 2021 under the baseline scenario and to 11.8% under the very severe stress scenario.
-Bank credit which had considerably weakened during the first half of 2019-20, slid down further to 5.9% by March 2020 to early June 2020.
-Five banks may fail to meet the minimum capital level by March 2021 in a very severe stress scenario.
-Large borrowers (with exposure of over Rs 5 crore) accounted for 51.3% and 78.3% of the -aggregate loan portfolio and GNPAs, respectively, of SCBs in March 2020. Both these shares have declined since March 2018.
About FSR:
It reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, and issues relating to development and regulation of the financial sector.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).
Recent Related News:
On June 8, 2020, after exercising the powers conferred by the Banking Regulation Act, 1949 and the Reserve Bank of India (RBI) Act, 1934, RBI has proposed two draft documents titled “Draft Comprehensive Framework for Sale of Loan Exposures” and “Draft Framework for Securitisation of Standard Assets” consisting of guidelines applicable to all Scheduled Commercial Banks (excluding Regional Rural Banks); All India Financial Institutions; and, all Non-Banking Financial Companies (NBFCs) including Housing Finance Companies (HFCs).
8. India’s 2018 Asian Games mixed relay medal upgraded to gold after Bahrain’s disqualification
Indian 4x400m mixed relay team’s silver medal in the 2018 Asian Games has been upgraded to gold. This decision has been taken after the disqualification of original winners Bahrain due to doping ban.
- Anu Ragavan’s fourth place in the women’s 400m hurdles has been upgraded to Bronze medal after this.
- Now, India’s medal count increased to 20 which includes 8 gold and 9 silver in 2018 Asian Games.
- Kazakhstan claim silver & China will get Bronze.
NOTE: Celebrating the news Hima Das, dedicated her gold medal to the workers against COVID-19.
Reason behind:
i.The4x400 mixed relay final, was topped by Bahrain.
ii.One of the winners from Bahrain, Kemi Adekoya was handed a four-year ban from the Athletics Integrity Unit (AIU) for failing a dope test.
iii.Under the Article 15 of the World Athletics Anti-Doping Rules, the National Federations (NF’s) categorize the person as A, B, C where A- having the highest doping risk to the sport and category C the towest.
India at the 2018 Asian Games
i.Bahrain clocked 3:11:89 in 4X400m, received Gold medal. The Indian quartet of Mohammed Anas, MR Poovamma, Hima Das and Arokia Rajiv, clocked 3:15:71 grabs silver medals.
ii.Anu Raghavan clocked 56.92 in hurdles and stands fourth in the final race in Jakarta.
iii.After the change in medals, the 4x400m has 2 golds and 1 silver.
About Asian Games
Motto: – “Ever Onward”
Occurs every – Four years
Last event – 2018, Jakarta, Palembang, Indonesia.
About Athletics Federation of India
President – Mr. Adille J Sumariwalla (2016 – 2020)
Headquarters: Delhi, india
Reserve Bank of India (RBI) has agreed to a USD 400 million currency swap facility for Sri Lanka, valid till November 2022. This will help Sri Lanka to meet its short-term international liquidity requirements and to boost its foreign exchange reserves following the economic crisis resulting from COVID-19.This Currency swap agreement was made under the South Asian Association for Regional Cooperation (SAARC) framework.
Technical discussion
i.Recently, India and Sri Lanka held a “technical discussion” on the rescheduling of the bilateral debt repayment through video conference.
ii.Key People: From India, senior officials from the Ministry of External Affairs, Ministry of Finance, and the EXIM Bank interacted with representatives from the Department of External Resources of Sri Lanka.
iii.The next round of technical discussions between the two sides on the rescheduling of debt repayment is expected to be held soon.
Note: Sri Lanka owes USD 960 million to India.
Webinar on ‘Deepening Economic Collaboration between India and Sri Lanka’
i.The government and industry representatives from India and Sri Lanka participated in a webinar on ‘Deepening Economic Collaboration between India and Sri Lanka’.
ii.The webinar is organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKIIRSS)
Key People- Secretary, Ministry of Foreign Affairs, Ambassador Ravinatha Aryasinha and the President of FICCI, Dr. Sangita Reddy and representatives from the Sri Lankan Board of Investment, Tourism Promotion Board, and the Institute of Nanotechnology among others participated in the webinar.
Relationship between India and Sri Lanka
i.India is among the top 5 foreign investors in Sri Lanka, and accounts for 20 % of total Sri Lankan imports. India is the 3rd largest export destination for Sri Lanka
ii.Sri Lanka is one of India’s largest trading partners in SAARC. With India-Sri Lanka Free Trade Agreement in March 2000 in force the trade grew between two countries.
iii.Sri Lanka is among the major recipients of development assistance from the Government of India.
iv.India’s overall commitment to Sri Lanka is about USD 3 billion, out of which around USD 560 million are in grants.
Recent Related News:
i.India and Denmark signed an MOU for developing cooperation in the power sector.
ii.India and Maldives inks 5 MoUs to establish Addu tourism Zone on 5 islands of Addu Atoll in Maldives with a project cost of $2.49 million. In addition, a 6th MoU to set up a bottled water plant at Hoarafushi, an inhabited island in Maldives was also signed.
About Sri Lanka
Capital – Colombo, Sri Jayawardenepura Kotte
Currency– Sri Lankan Rupee
President– Gotabaya Rajapaksa
Prime Minister– Mahinda Rajapaksa
7. Gross NPA of banks may rise to 12.5% by March 2021: RBI Financial Stability Report
In accordance with the 21st issue of Financial Stability Report (FSR), July 2020 by Reserve Bank of India (RBI) released on July 24, 2020, the gross nonperforming assets (GNPA) ratio of all scheduled commercial banks (SCBs) may increase from 8.5% in March 2020 to 12.5% by March 2021 under the baseline scenario; the ratio may escalate to 14.7% under a very severely stressed scenario.
While Public sector banks’ (PSBs) gross bad loans ratio of 11.3% at the end of March, 2020 may increase to 15.2% by March 2021 under the baseline scenario, on the other hand, Private banks may see an increase from 4.2% to 7.3%.
Key Points:
–Capital to risk-weighted assets ratio (CRAR) of SCBs declined to 14.8% in March 2020 from 15% in September 2019. This ratio could slide to “13.3% in March 2021 under the baseline scenario and to 11.8% under the very severe stress scenario.
–Gross non-performing asset (GNPA) ratio of SCBs declined to 8.5% from 9.3%.
–Provision coverage ratio (PCR) of SCBs improved to 65.4% from 61.6% over this period.
–Gross Domestic Product (GDP) will decline to 8.9% in 2020-21. In the baseline case, the GDP is assumed to contract 4.4%.
–System-level capital adequacy ratio (ratio of capital to advances) may drop from 14.6% in March 2020 to 13.3% by March 2021 under the baseline scenario and to 11.8% under the very severe stress scenario.
-Bank credit which had considerably weakened during the first half of 2019-20, slid down further to 5.9% by March 2020 to early June 2020.
-Five banks may fail to meet the minimum capital level by March 2021 in a very severe stress scenario.
-Large borrowers (with exposure of over Rs 5 crore) accounted for 51.3% and 78.3% of the -aggregate loan portfolio and GNPAs, respectively, of SCBs in March 2020. Both these shares have declined since March 2018.
About FSR:
It reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, and issues relating to development and regulation of the financial sector.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).
Recent Related News:
On June 8, 2020, after exercising the powers conferred by the Banking Regulation Act, 1949 and the Reserve Bank of India (RBI) Act, 1934, RBI has proposed two draft documents titled “Draft Comprehensive Framework for Sale of Loan Exposures” and “Draft Framework for Securitisation of Standard Assets” consisting of guidelines applicable to all Scheduled Commercial Banks (excluding Regional Rural Banks); All India Financial Institutions; and, all Non-Banking Financial Companies (NBFCs) including Housing Finance Companies (HFCs).
8. India’s 2018 Asian Games mixed relay medal upgraded to gold after Bahrain’s disqualification
Indian 4x400m mixed relay team’s silver medal in the 2018 Asian Games has been upgraded to gold. This decision has been taken after the disqualification of original winners Bahrain due to doping ban.
- Anu Ragavan’s fourth place in the women’s 400m hurdles has been upgraded to Bronze medal after this.
- Now, India’s medal count increased to 20 which includes 8 gold and 9 silver in 2018 Asian Games.
- Kazakhstan claim silver & China will get Bronze.
NOTE: Celebrating the news Hima Das, dedicated her gold medal to the workers against COVID-19.
Reason behind:
i.The4x400 mixed relay final, was topped by Bahrain.
ii.One of the winners from Bahrain, Kemi Adekoya was handed a four-year ban from the Athletics Integrity Unit (AIU) for failing a dope test.
iii.Under the Article 15 of the World Athletics Anti-Doping Rules, the National Federations (NF’s) categorize the person as A, B, C where A- having the highest doping risk to the sport and category C the towest.
India at the 2018 Asian Games
i.Bahrain clocked 3:11:89 in 4X400m, received Gold medal. The Indian quartet of Mohammed Anas, MR Poovamma, Hima Das and Arokia Rajiv, clocked 3:15:71 grabs silver medals.
ii.Anu Raghavan clocked 56.92 in hurdles and stands fourth in the final race in Jakarta.
iii.After the change in medals, the 4x400m has 2 golds and 1 silver.
About Asian Games
Motto: – “Ever Onward”
Occurs every – Four years
Last event – 2018, Jakarta, Palembang, Indonesia.
About Athletics Federation of India
President – Mr. Adille J Sumariwalla (2016 – 2020)
Headquarters: Delhi, india
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