CURRENT AFFAIRS
26 October 2020
NATIONAL NEWS:
A) Loan moratorium: Centre informs Supreme Court it will repay additional interest by November 5.
The Centre has informed the Supreme Court that the difference in the compound interest and simple interest charged for 6 months of moratorium period on 8 categories of loans worth up to ₹2 crore will be paid back to borrowers by November 5, 2020. The scheme is meant to bring additional relief to borrowers affected by the pandemic-induced financial distress. The Central Government has directed that all lending institutions shall give effect to the scheme and credit the amount calculated as per the scheme into the accounts of the borrowers by November 5. All lending institutions will credit the difference between compound interest and simple interest on loans in the respective accounts of eligible borrowers for the period between March 1 and August 31, the affidavit said. The amount shall be credited by each of the lending institutions irrespective of whether such eligible borrowers have fully availed or partially availed or have not availed of the moratorium/deferment in payment of installments as par the circulars dated March 27 and May 23 issued by the RBI. In the last hearing on October 14, a 3-Judge Bench led by Justice Ashok Bhushan had questioned the government’s need to wait a whole month, till November 15, to notify the implementation of a scheme for waiving the compound interest (interest on interest) accumulated during moratorium against loans worth up to ₹ 2 crore.
B) PM has ‘decided’ date of war with China Pakistan: U.P. BJP chief.
In a controversial remark, BJP’s Uttar Pradesh chief Swatantra Dev Singh said that Prime Minister Narendra Modi has decided when the country would be at war with Pakistan and China. His remarks on Friday came amid tension at the Line of Actual Control between India and China, where the two countries have massed troops. The BJP leader linked his claim to the beginning of construction of a Ram temple in Ayodhya following a Supreme Court judgment, and the abrogation of special status to Jammu and Kashmir under Article 370 of the Constitution. Like the decisions on Ram Mandir and Article 370, Prime Minister Narendra Modi has decided when there would be war with Pakistan and China, he is heard saying in a video clip on social media. Mr. Singh was speaking at an event at the home of BJP MLA Sanjay Yadav, who released the video. In his address, Mr. Singh compared Samajwadi Party and Bahujan Samaj Party workers with terrorists . When asked about the remarks, local MP Ravindra Kushwaha said the the UP BJP president made them to boost the morale of party workers.
C) Want tension to end, but won’t cede an inch: Rajnath Singh.
Meanwhile, striking a more traditional tone, Defence Minister Rajnath Singh said India wants an end to the ongoing standoff with China in Eastern Ladakh, but Indian soldiers will not allow even an inch of the country to be taken away by anyone. India wants an end to the ongoing border tension with China and restoration of peace. This is their objective. But at times, some nefarious incidents keep happening. He is very confident that their soldiers will never allow even an inch of their land to be taken away by anyone. Defense Minister made the remarks after performing Shastra Puja, the customary worship of weapons at the Sukna-based headquarters of the Indian Army’s 33 Corps in Darjeeling district of West Bengal on the occasion of Dussehra. Defence Minister made the remarks after performing Shastra Puja, the customary worship of weapons at the Sukna-based headquarters of the Indian Army’s 33 Corps in Darjeeling district of West Bengal on the occasion of Dussehra. He can say with confidence and on the basis of concrete information that the courage and deeds of Indian soldiers during whatever has happened at the India-China border in Ladakh recently will be written in golden letters by historians. Mr. Singh was accompanied on the visit by Army Chief Gen Manoj Naravane and after the puja, he inaugurated a road in Sikkim built by the Border Roads Organisation (BRO) through video-conference. The 19.85 Km alternate alignment of the National Highway 310 was necessitated due to the previous alignment having seen extensive damages due to sinking and other natural hazards, Defence Ministry said in a statement.
D) RBI Governor tests positive for Covid-19.
Reserve Bank of India Governor Shaktikanta Das on October 25 said that he has been tested positive for COVID-19 and will continue to work from isolation. Mr. Das said that he is asymptomatic and has alerted those who came in contact with him in recent days. He had tested COVID-19 positive and is asymptomatic. Feeling very much alright. Have alerted those who came in contact in recent days. Will continue to work from isolation. Work in RBI will go on normally. He is in touch with all Dy. Govs and other officers through VC and telephone. Currently, the RBI has full strength of four Deputy Governors B.P. Kanungo, M.K. Jain, M.D. Patra and M. Rajeshwar Rao. The RBI Governor was quite active during the lockdown period and post unlock period to keep the economy and financial market in good shape. Tamil Nadu’s Minister for Agriculture R. Doraikannu, who tested positive for Covid-19 on October 13, remains critical on ventilator and Extracorporeal membrane oxygenation (ECMO) support at Kauvery Hospital. Chief Minister Edappadi K. Palaniswami, accompanied by ministers D. Jayakumar and C. Vijaya Baskar, visited the hospital on Sunday to enquire about his health condition and interacted with his family members.
INTERNATIONAL NEWS
A) Vice President of U.S. tested positive for covid19. U.S. Vice President Mike Pence’s chief of staff tested positive for Covid-19 on 24 October, a spokesman said, the latest in a list of figures connected to Donald Trump’s administration to do so. Marc Short began quarantine and was assisting in the contract tracing process, Pence spokesman Devin O’Malley said in a statement. Vice President Pence and Mrs. Pence both tested negative for Covid-19 today, and remain in good health. Pence, who has been campaigning ahead of the November 3 election, will maintain his current schedule in consultation with White House doctors, said the spokesman.
SPORTS NEWS
A) Finally CSK shows their potential and won match against RCB.
Ruturaj Gaikwad of Chennai Super Kings celebrates his fifty during the Indian Premier League match against Royal Challengers Bangalore at the Dubai International Cricket Stadium in Dubai on October 25, 2020. Chennai Super Kings finally displayed the much-needed intent, keeping themselves just mathematically alive with a comprehensive eight-wicket victory over Royal Challengers Bangalore in an Indian Premier League match here on Sunday. Young Ruturaj Gaikwad (65 not out off 51 balls) showed his potential with a maiden fifty but skipper Dhoni wouldn’t be wrong in thinking that it came too late in the day when the ‘Yellow Brigade’ is all but out of the play-off reckoning.
B) ‘Carbine deal a benchmark for UAE firms to invest in India’
The deal for 93,895 Close Quarter Carbines (CQBs) for the Indian Army, for which United Arab Emirates (UAEYs government-owned small arms manufacturer Caracal was shortlisted, is like a “benchmark” for UAE industry and they are watching closely on further investments in the Indian market, said Hamad Salem Alameri, Chief Executive Officer (CEO) of Caracal. Once this first contract moves, a lot of sister companies within the group will see this as a success story and people will have the confidence to come and invest in India. However, while Caracal was shortlisted 2 years back, the final deal has been delayed and recently an in principle decision was taken in the Defence Ministry to cancel the deal and take the domestic route for procurement. But no formal announcement has been made so far. Nothing came to them officially on the cancellation or on the intent of cancellation. He said that in the last 2 years, Caracal had developed lot of suppliers and technology partners and the Starting point Of indigenization will be 60%. Stating that Caracal has already identified four locations to set up the facility and also identified local partners to be able to commence production immediately, Mr. Alameri said India is already part of their global supply chain and over 20% of the components fitted on the CAR 816 are already made in India. The deals for 72,400 assault rifles and 93,895 carbines were approved by the Defence Acquisition Council in January 2018 to be processed through the fast track route.
