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Current Affairs for IAS Exams - 11 September 2020

::NATIONAL::

PM launches Matsya Sampada Yojana and e-Gopala app digitally

Prime Minister NarendraModi today digitally launched the PradhanMantriMatsyaSampadaYojana (PMMSY).He also launched the e-Gopala App, a comprehensive breed improvement marketplace and information portal for direct use of farmers.
The PradhanMantriMatsyaSampadaYojana is a flagship scheme for focused and sustainable development of fisheries sector in the country with an estimated investment of over Rs. 20 thousand crore.This is the highest ever investment in the fisheries sector. It also aims at enhancing fish production by an additional 70 lakh tonne by 2024-25.
Speaking on the occasion, the Prime Minister said that the aim behind launching all these schemes is that the villages should become the strength of 21st century India, energy and self-reliant India.He said, over Rs. 20 thousand crore will be spent on this in the next 4 to 5 years.
He said, under PM KisanSammanNidhi scheme, money has been directly transferred to the bank accounts of more than Rs. 10 crore farmers of the country out of which nearly 75 lakh farmers are from Bihar. He said, so far, about Rs. six thousand crore have been deposited in the bank account of farmers of Bihar.
The Prime Minister said, e-Gopala app will be a digital medium which will help livestock owners to choose advanced livestocks. This app will give all information related to productivity, health and diet to the cattle owners.

Home ministry grants FCRA registration to Golden temple

The Union Home Ministry has granted Foreign Contribution Regulation Act (FCRA) registration to GurdwaraHarmandir Sahib, or the Golden Temple, in Amritsar, enabling it to receive foreign donations.
The gurdwara is currently administered by the ShiromaniGurdwaraPrabandhak Committee (SGPC), controlled by the ShiromaniAkali Dal (SAD), one of the oldest allies of the BJP.
Any association, non-government organisation (NGO) or registered society requires FCRA registration to receive foreign donations for specified purposes.

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::ECONOMY::

Government forms expert panel to decide on assessment of relief to bank borrowers

Government has constituted a three member expert committee to assist in the assessment of relief to bank borrowers.
The committee chaired by former CAG Rajiv Mehrishi will measure the impact on the national economy and financial stability of waiving of interest and COVID-19 related moratorium.
It will also give suggestions to mitigate financial constraints of various sections of society in this respect and measures to be adopted in this regard. The panel will submit its report within one week.
The move came as various concerns have been raised during the ongoing hearing in the Supreme Court in the matter regarding relief sought in terms of waiver of interest and waiver of interest on interest and other related issues.
Meanwhile,The Supreme Court on Thursday gave in to a persistent plea of the Union government for two more weeks to brainstorm with the Reserve Bank of India (RBI) and banks on crucial issues such as sector-specific loan restructuring, charging borrowers’ interest on interest for loans deferred during the moratorium period.

Experts suggest deficit financing as last resort for economic recovery

Revenue shortfalls in India, the major economy hardest hit by the COVID-19 pandemic, are likely to force the Centre to borrow more, but it will only consider monetising its deficit as a last resort, sources familiar with discussions told Reuters.
Borrowing plans for the second half of the financial year, will be reviewed by government and Reserve Bank of India (RBI) officials later this month, the five sources said.
The officials have already discussed the possibility of monetising the debt, whereby the central bank prints money to bridge the fiscal deficit, but they were in no hurry to return to a bad habit India kicked in 1997.
A senior government official said the RBI could ease liquidity through open market operations to keep yields in check while helping the government to raise borrowing, already targeted at a record ₹12 lakh crore.
RBI has pumped in over ₹11 lakh crore of liquidity into the market, helping to keep 10-year bond yields below 6% even as the government decided to borrow 70% more than last year as a result of the pandemic.

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::INTERNATIONAL::

India- Japan sign arms logistics agreement

India and Japan signed a logistics agreement that will allow the Armed Forces of both sides to coordinate closely in services and supplies. Prime Minister NarendraModi and his outgoing Japanese counterpart Shinzo Abe, who held a telephone discussion on Thursday, welcomed the pact that was signed by Defence Secretary Dr. Ajay Kumar and Ambassador of Japan Suzuki Satoshi.
A statement from the government informed that the agreement on ‘Reciprocal Provision Supplies and Services’ will “increase interoperability between the Armed Forces of India and Japan” and assist in maintaining regional security.
“The agreement establishes the enabling framework for closer cooperation between the Armed Forces of India and Japan in reciprocal provision of supplies and services while engaged in bilateral training activities, United Nations Peacekeeping Operations, Humanitarian International Relief and other mutually agreed activities,” the statement said.
The Prime Ministers of Japan and India welcomed the signing of the agreement, which will help both sides coordinate on medical requirements, supplies, maintenance, airlifting and communication.
Significantly, the agreement signed on Wednesday is mainly aimed at greater maritime cooperation and can dramatically upgrade India-Japan naval exercises as the participants are expected to share maritime facilities for mutual benefit.

India to host CHG meeting of SCO members in November

India is scheduled to host the meeting of Council of Heads of Government (CHG) of Shanghai Cooperation Organisation, SCO on 29-30 November 2020 in New Delhi. This will be the first Prime Minister level meeting to be hosted by India since its elevation as a full-member of Shanghai Cooperation Organisation, SCO.
In the run-up to the CHG Meeting, India has taken lot of initiatives in a wide range of areas. India hosted a Preparatory Seminar on Start-up Forum on 11 August and the first-ever meeting of Consortium of Economic Think-Tanks on 21-22 August. Both the events were attended by all the SCO Member States through Video Conferencing.
India has also planned for many events and meetings to be held before the CHG in November, which include Sub-group on Cooperation in Traditional Medicine, Preparatory Seminar on Traditional Medicine, Two meetings of Senior Officials Commission on External Economy and Trade, first-ever SCO Start-up Forum, Special Working Group on Innovation and Startups, first-ever SCO Young Scientists Conclave, Exhibition on Shared Buddhist Heritage, etc.

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::SCIENCE & TECHNOLOGY::

DRDO develops P-7 heavy drops system

Defence Research and Development Organization, DRDO has developed P-7 Heavy Drop System which is capable of para dropping military stores up to seven-tonne weight class from IL- 76 aircraft.
It consists of a platform and specialized parachute system. The parachute system is a multi-stage system comprises of five Main canopies, five Brake chutes, two Auxiliary chutes, one Extractor parachute and platform is a metallic structure made up of Aluminium or steel alloys.

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::SPORTS::

Sports ministry reiterates commitment towards clean sports

Youth Affairs and Sports Minister KirenRijiju reiterated India's commitment towards promoting Clean Sport. During an online meeting with World Anti-Doping Agency (WADA) President Witold Banka, Mr Rijiju also spoke of the readiness of the National Dope Testing Laboratary (NDTL) to conduct tests as per WADA guidelines.
WADA accreditation of NDTL has been under suspension since August 20th last year. The Sports Minister also invited the WADA team for an on-site visit of NDTL.
Inviting the WADA President for a India visit, Sports Minister also offered to extend support to WADA in terms of greater financial contribution as well as manpower resources.

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