Daily Current Affairs 26 August 2020 With Video Lecture

What is Electoral Bond Scheme?

• An electoral bond is like a promissory note that can be bought by any Indian citizen or company incorporated in India from select branches of State Bank of India.
• Electoral bonds allow donors to pay political parties using banks as an intermediary.
• The electoral bonds were introduced with the Finance Bill (2017).
•  On January 29, 2018, the NDA government notified the Electoral Bond Scheme 2018.
• Introduced to promote transparency in funding and donation received by political parties.
• They do not carry any interest.
• The bonds are issued in multiples of Rs. 1,000, Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh and Rs. 1 crore without any maximum limit.
• These bonds are redeemable in the designated account of a registered political party

Dedicated debt and credit guarantee scheme for NBFCs – MFIs

• The National Bank for Agriculture and Rural Development (NABARD) has introduced, ‘Structured Finance and Partial Guarantee Program for Non-Banking Finance Companies (NBFC)-Micro Finance Institutions (MFIs)’.
•  The scheme is to ensure the flow of credit in COVID-19 affected rural areas.
• The program entails to provide a partial guarantee on pooled loans extended to small and mid-sized MFIs.
• Initial funding: Rs 2,500 crore.
• Expected to cover over 1 million households across 28 states and 650 districts.
• NABARD has signed an agreement with Vivriti Capital and Ujjivan Small Finance Bank to formulate the credit guarantee program.
• NABARD:
• It is the apex banking institution to provide finance for Agriculture and rural development.
• Statutory body established in 1982 under Parliamentary act-National Bank for Agriculture and Rural Development Act, 1981.
• Headquarter – Mumbai

AIIB & India signs loan agreement to improve Mumbai suburban railway system

• The Government of India, the Government of Maharashtra, Mumbai Railway Vikas Corporation and the Asian Infrastructure Investment Bank (AIIB) have signed a loan agreement.
• Loan is of USD 500 million for Mumbai Urban Transport Project-III.
• MUTP-III is supervised and implemented by the Mumbai Metropolitan Region Development Authority to enhance the network capacity, service quality and safety of Mumbai’s suburban railway system.
• Project is expected to increase network capacity in the region and thus will improve mobility.
• Including reduction in journey time and fatal accidents.

Draft report flags concerns over DNA bill

• The parliamentary standing committee on science and technology has raised few concerns over the DNA Bill.
• Bill allows DNA sampling and profiling of citizens accused of crime or reported missing and storing their unique genetic information for administrative purposes.
• Draft report flags concerns over DNA bill
• Concerns:
• Can reveal extremely sensitive information
• Could be misused for caste or community-based profiling.
• There is a threat to an individual’s privacy.
• The Bill refers to consent in several provisions, but in each of those, a magistrate can easily override consent
• DNA Technology (Use And Application) Regulation Bill, 2019
• Provides for establishment of national and regional DNA data banks
• Each databank will maintain crime scene index, suspects’ or undertrials’ index and offenders’ index separately.

Healthcare workers to get COVID-19 vaccine after senior citizens: WHO

• World Health Organization announced that the health care workers are to receive COVID-19 vaccine after senior citizens.
• Data collected by Amnesty International shows that, globally, over 3,000 healthcare workers have died from COVID-19.
• It is 196 in India according to Indian Medical Association.
• WHO said, investing in the COVAX facility is the fastest way to end this COVID-19 pandemic and ensure a sustainable economic recovery.
• COVAX facility will ensure equitable access of the vaccine to all countries.
• There are more than 172 countries engaging in COVAX facility.
• Aim to launch this initiative is to avoid Vaccine Nationalism.
• Vaccine Nationalism:  when countries starts developing and securing vaccines for its own citizens before they are made available in other countries.

26 August: Women’s Equality Day

• The day is celebrated to commemorate the right of women to vote in the United States.
• Also marks women’s advancements toward equality with men.
• On this day in 1920, the 19th Amendment to the United States Constitution was adopted.

Current COVID19 Situation in India

QUIZ TIME

For the credit guarantee program NABARD has signed an agreement with:

1. Vivriti Capital
2. Ujjivan Small Finance Bank
3. Both A and B
4. Neither A nor B

Answer – C

DNA Technology (Use and Application) Regulation Bill, 2019 provides for establishment of:

1. National DNA data banks
2. Regional DNA data banks
3. Village DNA data Banks
4. Only A and B

Answer – D

Women’s Equality Day is celebrated on:

1. 24 August
2. 25 August
3. 26 August
4. 27 August

Answer – C

Question of the Day

What is INTERPOL?

Answer in next session…