Daily Current Affairs 7 August 2020 With Video Lecture

What is Swadesh Darshan Scheme?

• Launched By: Ministry of Tourism.
• Objective: To develop theme-based tourist circuits in the country.
• These tourist circuits will be developed on the principles of high tourist value, competitiveness, and sustainability in an integrated manner.
• The scheme is 100% centrally funded.
• Funding of individual project will vary from state to state.

Indian Railways to introduce “Kisan Rail”

• Indian Railways is introducing first “Kisan Rail” from Devlali (Maharashtra) to Danapur (Bihar).
• The train will run on weekly basis.
• This train is a step towards realizing the goal of doubling farmers’ incomes by 2022.
• This train will help in bringing perishable agricultural products like vegetables, fruits to the market in a short period of time.
• The train will have frozen containers and is expected to build a seamless national cold supply chain for perishables, inclusive of fish, meat and milk.
• Indian Railways have earlier run single commodity special trains like Banana Specials etc.
• But this will be the first ever multi commodity trains and will carry various fruits and vegetables.

Online patriotic film festival

• Organized by National Film Development Corporation.
• It is first of its kind, online patriotic film festival.
• The festival, a part of Independence Day Celebrations 2020 by Ministry of Information and Broadcasting.
• It will begin on 7th August 2020 and will run till 21st August.
• The festival will showcase Indian history that marks the bravery of our freedom fighters and aims to create a festive and patriotic mood among Indians across the globe.
• The festival will showcase high quality Independence Day themed patriotic films daily at the website www.cinemasofindia.com freeof cost.
• Movies like Gandhi, Chittagong, The Legend of Bhagat Singh etc. will be showcased in the festival.

IBBI amends liquidation process regulations

• The Insolvency and Bankruptcy Board of India (IBBI) amended regulations for liquidation process, providing more clarity on fee payable to liquidators.
• Now fee payable to the liquidator will be fixed by committee of creditors.
• Where the fee has not been fixed, the Regulations provide for a fee as a percentage of the amount realized and of the amount distributed by the liquidator.
• This amendment clarifies that if a liquidator realises any amount, but does not distribute the same, he shall be entitled to a fee corresponding to the amount realized by him.
• Insolvency and Bankruptcy Board of India
• Statutory Body: Insolvency and Bankruptcy Code, 2016
• Established: 1 October 2016
• It is a key institution in implementing the IBC, which provides for market-linked and time-bound resolution of stressed assets.

RBI to set up ‘Innovation Hub’

• The hub is being launched to promote the startups in the country.
•  It will help in ideation and incubation of new capabilities to promote financial inclusion and promote efficient banking services.
• Hub will create viable and innovative financial products.
• Following will be the benefits:
• The hub will help achieve efficient banking
•  Business continuity in times of emergency
•  Strengthening consumer protection
• Similar initiatives taken by RBI like Regulatory Sandbox.
• The regulatory sandbox allows live testing of new products or services in a controlled or test regulatory environment.
• Where regulators may (or may not) permit certain relaxations for the limited purpose of testing.

Bangas Awaam Mela

• It was held in J-K’s Handwara to mark anniversary of abrogation of Article 370.
• The Annual Festival saw the participation of hundreds of Gujjars, Bakarwals and other Kashmiri sightseers.
• The first day Village Games were held which saw competitions like Horse Racing, Sheep Shepherding Challenge, Tugs of War, etc.
• The Veterinary and Medical Camp was organized to provide basic health care facilities along with medicines to the locals who are residing in the remote region of Bangus valley.
• On the second day of the festival, the audience enjoyed folk songs by the Gujjar community.

August 7: National Handloom Day

• The day is celebrated to honour the handloom weavers in the country.
• Also, the day highlights handloom industry in India which is key to women empowerment as over 70% of handloom weavers and allied workers are women.
• 7th August was chosen as the National Handloom Day to commemorate the Swadeshi Movement which was launched on the same date in the year 1905.
• This day was first declared as National Handloom Day in 2015.

Current COVID19 Situation in India

QUIZ TIME

Online patriotic film festival organized by:

1. National Film Development Corporation
2. Film Division of India
3. Children’s films society
4. Film and television institute of India

Answer – A

Insolvency and Bankruptcy Board of India established on:

1. October 2019
2. October 2017
3. October 2016
4. October 2015

Answer – C

Which of the following allows live testing of new products or services in a controlled environment?

1. Regulatory Paybox
2. Regulatory Sandbox
3. SandBox
4. Innovation Hub

National Handloom Day is celebrated on:

1. 1^st August
2. 7^th August
3. 6^th August
4. 5^th August

Answer – B

Question of the Day

What is Hamara Ghar-Hamara Vidyalaya campaign?

Answer in next session…