Top Current Affairs 25 December 2020

Top Current Affairs 25 December 2020

Top Current Affairs 25 December 2020: This post contains the latest current affairs for 25 December 2020 that are important for all competitive exams like Bank, SSC, IBPS, SBI exams. You can also attempt our Current Affairs Quiz after reading our daily current affairs.

National

Cabinet approves 100% FDI & 20-Year License in DTH broadcasting services sector

The Union Cabinet has approved revised guidelines for Direct-to-Home (DTH) broadcasting services on 23rd December 2020. 

Key Features of new guidelines

• Allowed 100 percent foreign direct investment (FDI) in the DTH broadcasting services sector. This FDI cap was limited to 49 percent till now.
• From now on, the DTH services will be issued licenses for a period of 20 years, compared to 10 years at the moment. It will also have a renewal provision after every 10 years.
• The license fee has also been revised from 10 percent of gross revenue (GR) to 8 percent of adjusted gross revenue (AGR), which will be calculated by deduction of GST from GR.
•  The license fee will be collected on quarterly basis as against annual basis presently.

India’s largest hockey stadium to be set up at Rourkela in Odisha

• A new world-class hockey stadium is being set up in Rourkela city of Odisha, as announced by the Odisha Chief Minister Naveen Patnaik.
• The stadium will be constructed in the Biju Patnaik University of Technology campus, Rourkela.
• Once operational, the Rourkela city stadium would be the biggest hockey stadium in India.
• It will have a sitting capacity of 20,000 people, spread over 15 acres of land.
• The stadium will be developed as a benchmark for other hockey stadiums around the world.
• It must be noted that Odisha will be hosting FIH Men’s Hockey World Cup for a second consecutive time, in 2034,  at two venues, Bhubaneswar and Rourkela.

Niti Aayog Launches Made-in-India Cloud Storage Service ‘DigiBoxx’

• NITI Aayog has launched indigenously developed India’s first Digital Asset Management and Storage platform, called ‘DigiBoxx’.
• The home-grown DigiBoxx was launched by NITI Aayog CEO Amitabh Kant on 22 December.
• The initiative will give a boost to Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’, as India now has its own cloud storage platform.
• This cloud storage and file sharing service will be available for desktop, iOS, and Android users, including both regular users as well as businesses.
• Digiboxx offers free 20GB cloud storage space, and 100GB space per month at just Rs 30.

US financial body DFC to invest USD 54 million in India to support critical infrastructure projects

• The United States International Development Finance Corporation (DFC) has announced to invest $54 million in India to support the development of critical infrastructure projects in the country in the wake of the COVID-19 pandemic.
• The DFC will invest this $54 million in equity for the National Investment and Infrastructure Fund (NIIF) in India.
• NIIF will use this capital to support economic growth and address critical development challenges in the country.
• This financing is part of NIIF’s final round of fund-raising for the fund.
• DFC is the development finance institution of the United States federal government, primarily responsible for providing and facilitating the financing of private development projects in lower- and middle-income countries.

Banking & Economy

RBI cancels the Licence of the Subhadra Local Area Bank, Maharashtra

• The Reserve Bank of India has cancelled the banking licence issued to Subhadra Local Area Bank Ltd., Kolhapur, Maharashtra to carry on banking business in India w.e.f December 24, 2020.
• The Reserve Bank cancelled the licence of the Subhadra Local Area Bank Ltd as it had breached the minimum net worth requirement for two quarters in the financial year 2019-20. The affairs of the Subhadra Local Area Bank Ltd. were conducted in a manner detrimental to the interests of its present and future depositors.
• After this, there are only two Local Area Banks operational in India, i,e.– Coastal Local Area Bank Ltd and Krishna Bhima Samruddhi LAB Ltd.

Ind-Ra revises India’s FY21 GDP contraction to 7.8% from 11.8% earlier

• India Ratings and Research (Ind-Ra) has revised India’s GDP estimate for the current financial year 2020-21 (FY21) to -7.8 percent from -11.8 percent estimated earlier.
• This lower contraction rate is mainly due to the easing of COVID-19 curbs and better-than-expected recovery in the second quarter.
• Ind-Ra has also estimated the GDP to grow by 9.6% in 2021-22 (FY22).

Ranking

HDFC Bank Ranks Top among 100 BFSI Firms in India

• HDFC Bank is the top ranked company among the 100 Banking, Financial Services and Insurance (BFSI) companies in the country, as per the BFSI Movers and Shakers 2020 report by Wizikey.
• HDFC Bank has topped because of its customer service, monetary management, and innovative offerings amid the coronavirus pandemic.
• ICICI Bank and State Bank of India (SBI) are ranked second and third, respectively.
• Other top 10 banks in 2020 Wizikey’s BFSI Movers and Shakers report are Yes Bank, PNB, HSBC Bank, Kotak Mahindra Bank, Bank of Baroda, Deutsche Bank, and IDBI.
• Wallet and UPI segment – Google Pay
• Neo Banks segment – YONO
• Payments bank category – Airtel Payments Bank

Books & Author

Vice President Venkaiah Naidu inaugurates book titled ‘Oh Mizoram’ authored by Mizoram Governor Sreedharan Pillai

• The Vice-President of India, Shri M. Venkaiah Naidu released a book titled ‘Oh Mizoram’ through video conferencing recently during an event organised at the India International Centre, New Delhi. 
• The book ‘Oh Mizoram’ has been written by the Governor of Mizoram, P S Sreedharan Pillai. 
• The book is a collection of several English poems and has been published by the Indus Scrolls Press, Hyderabad.
• Oh Mizora, is the 125th book written by Governor Pillai.

Days

Good Governance Day: 25 December

• In India, Good Governance Day (Sushasan Divas) is observed annually on December 25 to commemorate the birth anniversary of former Prime Minister Atal Bihari Vajpayee (25 December 1924 – 16 August 2018).
• Good Governance Day was established in 2014 by the newly elected administration of Prime Minister Narendra Modi, to foster awareness among the Indian people of accountability in government.

Obituary

Veteran Malayalam poet-activist Sugathakumari passes away at 86

• Renowned Malayalam poet and environmental activist Sugathakumari has passed away following Covid-19 complications. She was 86.
• Sugathakumari was awarded the first Indira Priyadarshini Vrikshamitra by the Centre, for her contribution to conservation of nature.
• She was honored with the Padmashri award in 2006.
• For her contributions to Malayalam literature, Sugathakumari won the Kerala Sahitya Akademi award in 1968 for ‘Pathirapookal’, and the Kendra Sahitya Akademi award in 1978 for ‘Rathrimazha.