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Weekly Current Affairs 1st To 7th February 2020

Weekly Current Affairs 1st To 7th February 2020

International News

Kala Ghoda Festival

  • The festival began in the year 1999 and thereafter was born as the biggest street art festival of India.
  • Kala Ghoda Association organises the festival, was formed on 30th October 1998 with the object of maintaining and preserving the heritage and art district of South Mumbai.

International Gandhi Awards for Leprosy

  • The International Gandhi Awards for Leprosy is presented to Dr N.S. Dharmashaktu and the Leprosy Mission Trust.
  • The award has been instituted by Gandhi Memorial Leprosy Foundation, a pioneering organisation established in 1986.

National News

34th Surajkund International Crafts Mela

  • The Surajkund Mela showcases the richness and diversity of the handicrafts, handlooms and cultural fabric of India & is the largest crafts fair in the world.
  • The Mela is organized by the Surajkund Mela Authority & Haryana Tourism in collaboration with Union Ministries of Tourism, Textiles, Culture and External Affairs.

5 IIITs Given Status of Institution of National Importance

  • The cabinet chaired by PM Modi has approved the introduction of the Indian Institutes of Information Technology Laws (Amendment) Bill, 2020.
  • The bill will declare the remaining five IIITs along with the existing 15 IIITs in PPP mode as Institutions of National Importance with powers to award degrees.

31st Veer Savarkar Akhil Bharatiya Samudra Taran Spardha

  • The Veer Savarkar Akhil Bharatiya Samudra Taran Spardha also called as Veer Savarkar All India Sea Swimming Competition was held in the Arabian Sea off Gir Somnath coast of Gujarat.
  • Monika Nagpure and Rutvik Bhajiwala both belong to Surat, Gujarat.

SC stays HC Order Directing Sale of HDIL Assets

  • A bench comprising of Chief Justice S A Bobe and Justices B R Gavai and Surya Kant gave stay order, on the appeal of RBI against the Bombay High Court order.
  • The Bombay High Court had set up a three-member committee for valuating and sale of encumbered assets of HDIL to expeditiously recover dues payable by the firm to PMC Bank.

Banking

RBI Increased Insurance Cover on Bank Deposits

  • The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India provides the insurance coverage to the depositors.
  • The DICGC has raised the limit of insurance cover for depositors in insured banks to provide a greater measure of protection to depositors in banks and boost the confidence of people in the banking system.

Union Cabinet Approved Amendment to Bring Co-op Banks under RBI

  • The government approved amendments to the Banking Regulation Act, 1949 to ensure greater accountability and transparency in the functioning of Cooperative Banks.
  • According to the data released by RBI, Urban cooperative banks (UCBs) reported nearly 1,000 cases of fraud worth more than Rs 220 crore in the last five fiscals.

RBI: Status Quo on Repo Rate at 5.15%

  • RBI has maintained a status quo on the policy rate with repo rate remains unchanged at 5.15% under the Liquidity Adjustment Facility (LAF) and is not expected to cut interest rates before June 2020.
  • These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 % within a band of plus or minus 2%.
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