Current Affair 26 Oct 2020-ORSP

Current Affair 26 Oct 2020-ORSP

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World Polio Day: 24 October

The World Polio Day is celebrated annually on October 24.

• The day is observed to raise awareness for polio vaccination and eradication of polio.
• It provides an opportunity to highlight global efforts toward a polio-free world and honour the tireless contributions of those on the frontlines in the fight to eradicate polio from every corner of the globe.
• As of August 2020, Afghanistan and Pakistan are the only two nations which remain with the continued transmission of wild poliovirus.
• 2020 theme “A win against polio is a win for global health.”

Pakistan to remain in grey list of FATF till February 2021

The global terror financing watchdog, Financial Action Task Force (FATF) has announced that Pakistan will continue to remain on its grey list till February 2021.

• This decision has been taken since Pakistan has not been able to fulfil six out of the 27 mandates to check terror funding.
• FATF has strongly urged Pakistan to swiftly complete its full action plan by February 2021.
• The FATF Headquarters: Paris, France

Financial Action Task Force

Abbreviation	FATF
Formation	1989; 31 years ago
Type	Intergovernmental organisation
Purpose	Combat money laundering and terrorism financing
Headquarters	Paris, France
Region served	Worldwide
Membership	39
Official language	English, French
President	Marcus Pleyer[1]
Affiliations	Asia/Pacific Group on Money Laundering (APG),Caribbean Financial Action Task Force (CFATF), The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL), Financial Action Task Force on Money Laundering in South America (GAFISUD), Middle East and North Africa Financial Action Task Force (MENAFATF)
Website	www.fatf-gafi.org

Saad al-Hariri renamed Lebanon Prime Minister

Lebanon’s President Michel Aoun designated Sunni Muslim politician Saad al-Hariri as prime minister.

• Hariri won the backing of a majority of parliamentarians in consultations with Aoun.
• Sunni leader Hariri’s last coalition government was toppled almost exactly a year ago as protests gripped the country.
• Hariri was backed by his own Future lawmakers, the Shi’ite Amal party, Druze politician Walid Jumblatt’s party and other small blocks.

Country- Lebanon

Capital-Beirut

Currency-Lebanese pound (LBP)

Andorra Joins IMF as its 190th Member

Andorra has joined the International Monetary Fund (IMF), to become its 190th member.

• IMF’s Membership allows the Andorran government to benefit from IMF policy advice, especially as the country tackles the crisis caused by COVID-19 and can now receive an annual review or “health check” of its economy by the IMF, tap technical assistance, and access IMF lending if needed.
• Andorra is a microstate situated between France and Spain. However, it is the largest microstate in Europe.

International Monetary Fund

Coat of arms
Abbreviation	IMF
Formation	27 December 1945; 74 years ago
Type	International financial institution
Purpose	Promote international monetary co-operation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties[1]
Headquarters	Washington, D.C., U.S.
Coordinates	38°53′56″N 77°2′39″WCoordinates: 38°53′56″N 77°2′39″W
Region	Worldwide
Membership	190 countries[2]
Official language	English[3]
Managing Director	Kristalina Georgieva
Chief Economist	Gita Gopinath[4]
Main organ	Board of Governors
Parent organization	United Nations[5][6]
Staff	2,400[1]
Website	IMF.org

Current Affair 26 Oct 2020-ORSP

India gets Chairmanship of ILO Governing body after a gap of 35 years

After a gap of 35 years, India assumed the Chairmanship of Governing Body of International Labour Organisation (ILO).

• Labour Secretary Apurva Chandra has been elected as the Chairperson of the Governing Body of the ILO for the period October 2020-June 2021.
• The Governing Body (GB) is the apex executive body of the ILO, which decides policies, programmes, agenda, budget, and elects the Director-General.
• At present, the ILO has 187 members. Chandra will be presiding over the upcoming Governing Body’s meeting, to be held in November 2020.

International Labour Organization

Abbreviation	ILO
Formation	11 April 1919; 101 years ago
Type	United Nations specialized agency
Legal status	Active
Headquarters	Geneva, Switzerland
Head	Director-General  Guy Ryder
Parent organization	United Nations General Assembly United Nations Economic and Social Council
Website	www.ilo.org

NITI Aayog panel for reforms in urban planning education

A panel constituted by the NITI Aayog will look into introducing reforms in the urban planning education system.

• The 14-member advisory committee, headed by NITI Aayog Vice-Chairman Rajiv Kumar, will review the urban planning education system in India and examine the availability, demand and supply of qualified urban planners in the country.
• NITI Aayog CEO Amitabh Kant and secretaries of three ministries—Housing and Urban Affairs, Higher Education and Panchayati Raj—are among the members of the committee.

NITI Aayog

Agency overview
Formed	1 January 2015; 5 years ago
Preceding	Planning Commission
Headquarters	New Delhi
Annual budget	₹339.65 crores ($48+ million) (2020-21)[1] including Ministry of planning
Agency executives	Narendra Modi, (Chairperson) Rajiv Kumar, (Vice Chairperson) Amitabh Kant, (CEO)
Parent agency	Ministry of planning
Website	www.niti.gov.in

PM Modi launches 3 key projects, including ‘Kisan Suryoday Yojana’, in Gujarat

Prime Minister Narendra Modi inaugurated three key projects in Gujarat through video conferencing.

• Modi launched the Kisan Suryodaya Yojana for providing 16 hours of power supply to farmers.
• He also inaugurated the Paediatric Heart Hospital attached with U.N Mehta Institute of Cardiology and Research Centre and a Mobile Application for tele-cardiology at the Ahmedabad Civil Hospital in Ahmedabad.
• The Prime Minister also inaugurated the ropeway at Girnar on the occasion.

World Bank sanctions Rs 3 crore for Goa to develop India’s first sand dune parks

India’s first sand dune parks and interpretation centre is set to be developed in Goa.

• The Goa state biodiversity board has proposed the project, which will be implemented with financial assistance from the World Bank.
• The World Bank has sanctioned around Rs.3 crore under the programme.
• Park would also have Bridges made of nature friendly material to reduce trampling on sand dune vegetation.
• Besides this, nurseries of sand dune vegetation will also be set up, which will enable its replantation on beach stretches where vegetation has gone extinct.

World Bank

The World Bank Group building in Washington, D.C.
Motto	Working for a World Free of Poverty
Formation	July 1944; 76 years ago
Type	Monetary International Financial Organization
Legal status	Treaty
Headquarters	1818 H Street NW, Washington, D.C., U.S.[1]
Membership	189 countries (IBRD)[2] 173 countries (IDA)[2]
Key people	David Malpass (President)[3] Anshula Kant (MD and CFO) Carmen Reinhart (Chief Economist, 15 June 2020)[4]
Parent organization	World Bank Group
Website	www.worldbank.org

Mastercard partners with Atlantis to expand Digital First Program in India

Mastercard has entered into a partnership with Atlantis to expand the Digital First Program in India.

• The partnership aims to provide the users of Mastercard, a technology solution that enables them to enjoy a best-in-class digital banking experience.
• After the launch in India, the partnership will expand to Malaysia, Singapore and Thailand.
• The partnership allows the users of the Mastercard to have immediate account access and convenient payments.

Mastercard Incorporated

Type	Public
Traded as	NYSE: MA (Class A) S&P 100 component S&P 500 component
ISIN	US57636Q1040
Industry	Financial services
Founded	1966; 54 years ago (as Interbank Card Association) 1979; 41 years ago (as MasterCard)
Headquarters	Mastercard International Global Headquarters, Purchase, New York , U.S.
Area served	Worldwide
Key people	Richard Haythornthwaite (Chairman) Ann Cairns (Executive Vice Chairman) Michael Miebach (President) Ajaypal Singh Banga (CEO)

Bank of Baroda ties up with Toyota Kirloskar Motor

State-owned Bank of Baroda (BoB) announced a tie up with Toyota Kirloskar Motor (TKM) to enable finance options for the automaker’s customers and dealers.

• Following the pact, BoB will be one of the preferred financiers for the entire range of vehicles sold by TKM.
• The new service facilitates customers to avail customised solutions such as high on-road funding of 90 per cent, long repayment period of 84 months, no prepayment or foreclosure charges.
• This relationship will augment the MSME segment with dealer finance program and retail segment with auto loan finance and also provides an opportunity to cross-sell other bank products to these dealers.

Bank of Baroda

Type	Public
Traded as	BSE: 532134 NSE: BANKBARODA
ISIN	INE028A01039
Industry	Banking Financial services
Founded	20 July 1908; 112 years ago
Founder	Sayajirao Gaekwad III
Headquarters	Vadodara, Gujarat , India[1]
Number of locations	9,482 Branches 13,193 ATMs (2020)
Area served	India & Worldwide
Key people	Hasmukh Adhia (Chairman) Sanjiv Chadha (MD & CEO)[2]

Current Affair 25 Oct 2020-ORSP

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