Daily Current Affairs and GK | 5 December 2020

By PendulumEdu | Last Modified: 05 Dec 2020 22:20 PM IST

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Topic: Personality in News

1. Gitanjali Rao has been named as first-ever TIME ‘Kid of the Year’.

  • Indian-American young scientist and inventor Gitanjali Rao has been named by the TIME magazine as the first-ever Kid of the Year for her exceptional work.
  • She has used technology to solve various problems such as contaminated drinking water, cyberbullying, opioid addiction, etc.
  • She wants to create a global community of young innovators for solving problems of the World.
  • She had won the Discovery Education 3M Scientist Challenge in 2016 and was also named in Forbes’s list of “30 Under 30” for her innovations.
  • Her latest discovery is an app called Kindly for the detection of cyberbullying. She has developed an application named Tethys for the detection of lead contamination in water.

time magazine, kid of the year

(Source: News on AIR)


Topic: Miscellaneous

2. Directorate of Revenue Intelligence celebrated its 63rd Foundation Day.

  • Directorate of Revenue Intelligence has celebrated its 63rd Foundation Day on 4 December.
  • On this occasion, a panel discussion was organized on Trade-Based Money Laundering.
  • Directorate of Revenue Intelligence:
    • It was constituted on 4 December 1957.
    • It is an apex body for anti-smuggling intelligence and investigation.
    • It works under the Central Board of Indirect Taxes & Customs in the Ministry of Finance.
    • It solves the cases related to the smuggling of arms, ammunition and explosives, narcotic drugs and psychotropic substances, gold and diamonds, counterfeit currency notes and wildlife items.
    • It is headed by a Director-General rank Secretary of the Government of India.


central board of indirect taxes & customs

(Source: Wikipedia)

Topic: Defence

3. PASSEX Naval Exercise conducted between India and Russia.

  • Indian Navy and Russian Federation Navy have conducted the PASSEX Naval Exercise in the Eastern Indian Ocean from 4-5 December.
  • In this Naval Exercise guided-missile cruiser Varyag, Admiral Panteleyev, ocean tanker Pechenga, guided-missile frigate Shivalik and anti-submarine Kadmatt have participated.
  • It aims for enhancing interoperability, improving understanding and imbibing best practices from each other.
  • Indian Navy and Russian Federation Navy had conducted the INDRA exercise on 4-5 September 2020.
  • Indian Navy had also conducted Passage Exercise with the Australian Navy in September 2020.
  • PASSEX NAVAL Exercise: It is conducted by the Indian Navy with the navies of friendly countries in the Eastern Indian Ocean Region. It aims for improving the Defence cooperation between the countries.


PASSEX Naval Exercise

(Source: News on AIR)

Topic: Important Days

4. World Soil Day: 5 December

  • World Soil Day (WSD) is held annually on 5th December to raise awareness regarding the importance of healthy soil and the sustainable management of soil resources.
  • In December 2013 the UN General Assembly designated 5 December 2014 as the first official World Soil Day.
  • It is celebrated on 5 December to mark the birth anniversary of Bhumibol Adulyadej.
  • 2020 World Soil Day Theme-"Keep soil alive, protect soil biodiversity"
  • Soil constitutes about one-fourth bio diversity of the earth so protection of soil is important for the environment. Sustainable soil management is important for achieving many Sustainable Development Goals.
  • Soil Pollution can be prevent by the following methods:
    • Plantation of trees
    • Avoid single-use plastic
    • Disposal of hazardous waste
    • Composting of food waste


World Soil Day

(Source: Twitter)

Topic: Personality in News

5. Administrator of Lakshadweep, Dineshwar Sharma passed away.

  • Dineshwar Sharma, Administrator of Lakshadweep, has died at the age of 66.
  • He will be remembered for his valuable contribution to India’s policing and security apparatus.
  • He joined the Indian Police service in 1979. He had served on various important post in the Government of India.
  • He worked in Intelligence Bureau for a long haul of time and became its chief in 2014.
  • He had played a critical role in the formulation of government policy for tackling the Islamic State (IS) and radicalization of young Muslims in India.
  • He was also appointed as an interlocutor for Jammu and Kashmir in 2017 for the dialogue.
  • He was rewarded with President’s Police Medal and Indian Police Medal for his exceptional work.

administrator of lakshadweep

(Source: Indian Express)

Topic: Personality in News

6. Vice President released commemorative postage stamp in honour of I.K. Gujral.

  • The Vice President of India, M Venkaiah Naidu, has released a postage commemorative stamp in memory of former Prime Minister I.K. Gujral.
  • I.K. Gujral’s 101st birth anniversary has been celebrated on 4 December.
  • I.K. Gujral:
    • He was a politician who served as the 12th Prime Minister of India from 21 April 1997-19 March 1998.
    • He had taken part in the Quit India Movement and after Independence, he joined the Indian National Congress in 1964.
    • He served on various posts, including the Minister of External Affairs and Minister of Information and Broadcasting.
    • He is well known for his Gujral Doctrine’ and his contribution to India’s foreign policy.
  • Gujral Doctrine: It is a set of five guiding principles for India’s relation with its immediate neighbours.

Topic: Defense

7. Government gave its nod for creation of Deputy Chief of Army post for military operation and planning.

  • Government has approved a major reform in the Army. It has given its approval for the creation of the post of the Deputy Chief for military operations and strategic planning in the Army.
  • It will be the third post of Deputy Chief in the Army.
  • Deputy Chief will be the “single-point advice” person to the Vice Chief of Army on operational issues and he will head operations, intelligence, and perspective and information warfare.
  • It is recommended by the studies instituted by Army headquarter for enhancing operational and functional efficiency of the Army.
  • The Directorate General of Military Operations and the Directorate General of Military Intelligence will report to the Deputy Chief of Army.
  • The Deputy Chief will also head the offices of Perspective Planning and Strategic Communications.
  • Lt Gen Paramjit Singh is set to be appointed as the first Deputy Chief Army staff (Strategy).

Topic: Awards and Prizes

8. Indian Origin Author Anita Anand’s book on Jallianwala Bagh massacre wins history prize.

  • British-India author Anita Anand’s book on “The Patient Assassin: A True Tale of Massacre, Revenge and the Raj” has been awarded the prestigious history prize in the United Kingdom.
  • Her book “The Patient Assassin” is about the Jallianwala Bagh massacre in 1919 in Amritsar.
  • In her book, she has written a story about the assassination of a British official by an Indian after the Jallianwala Bagh massacre.
  • Some shortlisted books for PEN Hessell-Tiltman Prize for History 2020 are
    • Time Song: Searching for Doggerland
    • Imperial Intimacies: A Tale of Two Islands
    • The Brothers York: An English Tragedy
  • PEN Hessell-Tiltman Prize for History:
    • It is awarded annually to a non-fiction book for specifically historical content.
    • It was started in the memory of Marjorie Hessell-Tiltman.
    • Two thousand pounds is the Prize money for this award.
    • It is organized by the English PEN.

the patient assassin

(Source: Indian Express)

Topic: Indian Economy

9. RBI kept both repo rate and reverse repo rate unchanged at 4% and 3.35%, respectively.

  • RBI has kept both repo rate and reverse repo rate unchanged at 4% and 3.35%, respectively.
  • RBI has kept rates unchanged due to concerns of rising inflation. As per the RBI forecast, inflation is likely to be at 6.8% in the third quarter and 5.8% in the fourth quarter of the current fiscal year.
  • The forecast of 6.8% and 5.8% is above the government’s inflation target of 4% within range of plus/minus 2%
  • RBI earlier forecasted inflation at 5.4%-5.5% for the second half of the current financial year. In October 2020, consumer price inflation reached a six-year high of 7.6%.
  • RBI’s decision to keep policy rates unchanged may continue to benefit borrowers.
  • Fixed deposit rates have declined by 175-200 basis points since March 2020.  Further cut in deposit rates by banks will be negative for depositors.
  • Monetary Policy Committee (MPC) will continue with the accommodative stance till necessary. 
  • RBI’s measures and their impact over the last two years:
    • Since January 2019, RBI has lowered repo rate by 250 bps. This includes a cumulative cut of 135 bps in 2019 and 115 in 2020.
    • In October 2019, RBI ordered linking of loans by banks with external benchmark rates like repo rate. This lowered lending rates. 
    • Weighted average lending rates on fresh loans have shown a decline by 98 bps from January to October 2020. This happened after repo rate reduction of 115 bps in 2020.
    • In the case of private banks, weighted average lending rates on fresh loans have however increased by 36 bps to 9.02% in October 2020 from 8.66% in September 2020. This is as per RBI’s latest data on banks.

10. Combined sovereign and non-sovereign loan of $190 million approved by Asian Development Bank (ADB).

  • Combined sovereign and non-sovereign loan of $190 million has been approved by the Asian Development Bank (ADB).
  • The loan is for the modernisation of the power distribution system in Bengaluru and Bengaluru Smart Energy Efficient Power Distribution Project.
  • ADB has approved combined sovereign ($100 million) and non-sovereign ($90 million) loan on a pilot basis for the first time.
  • The loan is approved to Bangalore Electricity Supply Company Limited (BESCOM), which is the largest of all state-owned distribution utilities in Karnataka.
  • Asian Development Bank (ADB):
    • It is a regional development bank. It was established on 19 December 1966.
    • Its headquarters are located in Mandaluyong, Philippines. Its President is Masatsugu Asakawa.

Topic: Reports and Indices

11. Smuggling in India Report 2019-20 released by Finance Minister.

  • Smuggling in India Report 2019-20 has been released by Finance Minister Nirmala Sitharaman.
  • The report was released during 63rd Founding Day Celebrations of the Directorate of Revenue Intelligence (DRI).
  • The report is an analysis of trends of organized smuggling on Gold and Foreign Currency, Narcotic Drugs, Security, Environment and Commercial Frauds.
  • The awards given during 63rd Founding Day Celebrations are Bravery awards DRI Utkrisht Seva Samman, 2020.
  • The winners of Bravery awards are Najimudheen T S and Sumer Sen (an independent witness).
  • B. Sankaran, an Indian Revenue Service (IRS) officer has won the DRI Utkrisht Seva Samman, 2020.

smuggling in india report 2019-20

(Source: News on AIR)







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