Banking, Financial and Economic Awareness of 4 and 5 November 2020

1. Ministry of Information & Broadcasting forms committee to review guidelines for Television Rating agencies

• Ministry of Information & Broadcasting has formed a committee to review present guidelines for Television Rating agencies.
• Prasar Bharti CEO Shashi Shekhar Vempati is the Chairman of committee. Dr Shalabh, Dr Rajkumar Upadhyay and Pulak Ghosh are other members of the committee.
• The committee will also examine various evolving dynamics of the television rating system. It will submit its report in two months.
• It will also study Telecom Regulatory Authority of India’s recommendations on television rating systems in India.
• Present Guidelines on Television Rating Agencies in India were notified by Ministry of Information & Broadcasting in 2014.

2. SBI Card launches credit cards in partnership with Paytm

• SBI Cards and Payment Services (SBI Card) has launched credit cards in partnership with Paytm.
• The credit card is launched on the Visa platform and available in two variants, Paytm SBI Card and Paytm SBI Card SELECT.
• The card is usable across Paytm ecosystem, third-party platform and offline retail stores. It has Tap to Pay feature to allow contactless payments.
• Earlier, SBI card has launched a co-branded contactless credit card with IRCTC.
• SBI Cards and Payment Services (SBI Card) is owned by State Bank of India and The Carlyle Group. It is a payment solutions provider in India.
• Paytm:
  • Parent organization: One97 Communications
  • Headquarters: Noida
  • Founder and CEO: Vijay Shekhar Sharma

3. Bengaluru Tech Summit to be organized virtually for the first time

• Bengaluru Tech Summit will be organized virtually for the first time.
• PM Modi will virtually inaugurate it on 19 November. Its theme is ’NEXT IS NOW’.
• Bengaluru Tech Summit 2020 will be a three-day-long event and the 23^rd edition of the Bengaluru Tech summit.
• More than 25 countries and 250 domain experts will take part in the summit.
• Software Technology Parks of India (STPI)-IT export awards, smart bio awards and Bengaluru impact awards will be given during the summit.
• Department of Electronics Information Technology Biotechnology and Science & Technology of Karnataka government organize Bengaluru Tech Summit.

4. ANSR Consulting Inc acquires FastNext

• ANSR Consulting Inc has acquired FastNext, an Artificial Intelligence-driven tech company.
• ANSR Consulting Inc establishes and operates global capability centres (GCCs) for large enterprises.
• Due to the acquisition of FastNext, ANSR’s client will be able to make their GCC teams using deep learning and AI-powered tools.
• ANSR’s Talent500 platform and FastNext’s recruiting tech products will enable AI led talent acquisition market.

5. Global Rubber Conference (GRC) 2020 to be organized in Bangkok

• Global Rubber Conference (GRC) 2020 will be organized in Bangkok on 12-13 November through a hybrid format.
• The conference will be two day-long event. Rubber Authority of Thailand will be the host for the conference.
• World’s largest producer of natural rubber, Thailand’s Confexhu Group will organize it.
• The theme of the Global Rubber Conference (GRC) 2020 is ‘Unlocking Opportunities in a World of Disruption’.
• Impact of global disruptive forces in natural rubber industry will be discussed during the conference.
• Global Rubber Conference (GRC) 2020 is the 16^th edition of Global Rubber Conference.
• The hybrid format means that both in-person attendees and remote viewers will take part in the conference.     

6. CCEA approves investment in Luhri Stage-I Hydro Electric Project

• Cabinet Committee on Economic Affairs (CCEA) has approved an investment of ₹1,810.56 crore in Luhri Stage-I Hydro Electric Project on Sutlej River.
• 210 MW Luhri Stage-I Hydro Electric Project will be located in Shimla and Kullu districts, Himachal Pradesh.
• Satluj Jal Vidyut Nigam Limited (SJVNL) is implementing the project on Build-Own-Operate-Maintain (BOOM) basis.
• Luhri Stage-I Hydro Electric Project will be commissioned within 62 months. It has Life Cycle of 40 years.
• 758.20 million Units of electricity will be annually generated from the project. 100 units of free electricity will be given to affected families every month for ten years.  
• Cabinet has also approved MoU given below:
  • MoU between United Kingdom’s Department of Digital, Culture, Media and Sports and Ministry of Communications
  • MoU between the Central Drugs Standard Control Organization (CDSCO), India and the United Kingdom Medicines and Healthcare Products Regulatory Agency (UK MHRA)
  • MoU between India and Israel in the field of health and medicine

Read Banking Awareness PDF - 4 and 5 November 2020