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CURRENT AFFAIRS: DAYS
International Day for the Eradication of Poverty
- The International Day for the Eradication of Poverty is celebrated each year on October 17 throughout the world.
- 2020 Theme: Acting together to achieve social and environmental justice for all.
CURRENT AFFAIRS: NATIONAL
GST compensation: Centre to borrow Rs 1.1 lakh crore to meet shortfall
- The central government will borrowRs 1 lakh crore under the special window to meet the shortfall of Goods and Services Tax (GST) compensation.
- The amount borrowed will be passed on to the states as back-to-back loan in lieu of GST compensation cess.
- This borrowing will not have any impact on the fiscal deficit of the government. The amount will be reflected as the capital receipts of the state governments and as part of financing of its respective fiscal deficits.
- The general government (states + centre) borrowings will not increase because of this, as the states that get the benefit from the special window are likely to borrow a considerably lesser amount from the additional borrowing facility of 2 percent of gross state domestic product (from 3 percent to 5 percent) under the Aatma Nirbhar Package.
- Minister of Finance and Corporate Affairs of India: Nirmala Sitharaman
- Constituency: Karnataka
Union Education Minister virtually launches ‘KAPILA’ Kalam Program for IP Literacy and Awareness Education campaign
- Union Education Minister Shri Ramesh Pokhriyal ‘Nishank’ virtually launched the ‘KAPILA’ Kalam Program for Intellectual Property Literacy and Awareness campaign on the 89th birth anniversary of former President and Scientist Late APJ Abdul Kalam.
- Under this campaign, students pursuing education in higher educational institutions will get information about the correct system of application process for patenting their invention and they will be aware of their rights.
- The Institution Innovation Council (IIC 2.0) annual report was also presented on the occasion and the launch of IIC 3.0 was announced. It has also been decided to celebrate the week of October 15th to 23rd as ‘Intellectual Property Literacy Week’. The IIC 3.0 website was also launched.
- Minister of Education: Ramesh Pokhriyal
- Constituency: Haridwar, Uttarakhand
Union Minister Narendra Singh Tomar inaugurates Food and Agri Week 2020
- Union Minister for Agriculture and Farmers Welfare, Food Processing Industries, Rural Development and Panchayati Raj Narendra Singh Tomar virtually inaugurated the India – International Food & Agri Week being organised from 16th to 22nd October 2020.
- Tomar stated that Indian food processing sector is 32% of India’s food market. He stated that the focus of this agro and food tech is the use of technology in the field of food and agriculture sector to increase the income of farmers.
- MFP scheme is an important element of PMKSY whose objective is to link agricultural production to the market by bringing together the farmers, processors and retailers.
- Under this scheme, Ministry will provide 50% subsidy for transportation of eligible crops from surplus production cluster to consumption centre for six months and/or Hiring of appropriate storage facilities for eligible crops (for maximum period of 3 months).
- CII in association with the Ministry of Agriculture & Farmers’ Welfare, Ministry of Fisheries & Animal Husbandry and Ministry of Food Processing Industries, Government of India, is organizing its first ever Virtual CII Agro & Food Tech : India – International Food & Agri Week from 16th to 22nd October 2020 on CII HIVE – virtual platform with an intent to create a platform for the benefit of the stakeholders involved in the agriculture & allied sectors.
About Minister of Agriculture and Farmer’s Welfare:
- Narendra Singh Tomar, (Cabinet Minister)
- Constituency: Morena, Madhya Pradesh
- Parsottambhai Rupala, (Minister of State)
CURRENT AFFAIRS: INTERNATIONAL
Myanmar Navy to acquire its first submarine, INS’ retrofitted Sindhuvir
- Myanmar is all set to acquire its first diesel-electric submarine, with the Indian Navy handing over its retrofitted INS Sindhuvir to the country for training and operations.
- India will be delivering a kilo class submarine INS Sindhuvir to the Myanmar Navy. This will be the first submarine in the Myanmar navy. This is in accordance with our vision of SAGAR – Security and Growth for All in the Region.
- New Delhi and Naypyidaw are also working on the supply of Indian field guns (105 mm artillery guns), ammunition, night vision devices and other military hardware.
- Both India and Myanmar are in talks for the supply of more military hardware, including 105 mm artillery guns, ammunition, sonars and advanced light torpedoes ‘Shyena’. The two countries are also working on more joint-training and exercises to enhance Indo-Myanmar military-to-military cooperation.
- The Indian Navy had bought the INS Sindhuvir, a Soviet-origin Kilo-class submarine, from Russia in 1980s and has operated it since 1988.
- It is currently being modernized by the Hindustan Shipyard Limited (HSL) in Vizag, after which its service life will be extended by 10-15 years. It will then serve the Myanmar Navy till the 2030s.
- Capital: Naypyitaw
- President: Win Myint
- Currency: Burmese kyat
CURRENT AFFAIRS: BANKING AND FINANCE
Jana Bank to be sponsor bank for Ashoknagar Co-operative Bank
- Jana Small Finance Bank, a Bengaluru-based small finance bank (SFB), has partnered with Ashoknagar Co-operative Bank Limited under the bank sponsorship programme.
- With this, Jana Bank has become the first SFB to go live under the sponsorship programme.
- Recently, the RBI permitted co-operative banks that are Core Banking Solution (CBS)-enabled, to issue ATM cards/ATM-cum-debit cards in a tie-up with a sponsor bank.
- Ashoknagar Co-operative Bank Limited, in association with Jana Small Finance Bank, can extend ATM, POS and e-commerce services to its customers.
- This association marks the fulfilment of Jana Bank’s endeavour to promote a full suite of services to co-operative banks.
About Jana SFB
- Headquarters: Bengaluru
- MD&CEO: Ajay Kanwal
About Ashoknagar Co-operative Bank Limited
- Headquarters: Bengaluru
- President: Nagaraj
SBI authorised to issue, encash Electoral Bonds from Oct 19-28
- The Ministry of Finance has stated that the State Bank of India (SBI), in the 14th Phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorized Branches with effect from 19th October to 28th of October this year. Electoral Bonds will be valid for fifteen calendar days from the date of issue and no payment will be made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period. The Ministry stated, the Electoral Bond deposited by an eligible Political Party in its account will be credited on the same day.
- It stated, Election Commission of India has accorded ‘No objection’ from Model Code of Conduct (MCC) angle with conditions that no political functionary will make any reference in this regard during any public speech or communication to the press or public in the constituencies going for poll and the relevant provisions of MCC will be strictly followed. The Government had notified the Electoral Bond Scheme in 2018.
- Chairperson: Rajnish Kumar
- Headquarters: Mumbai
- Founded: 1 July 1955
About electoral bond:
- 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. The citizen or corporate can then donate the same to any eligible political party of his/her choice.
- The bonds are similar to bank notes that are payable to the bearer on demand and are free of interest. An individual or party will be allowed to purchase these bonds digitally or through cheque.
RBI imposes Rs 4.5-cr penalty on IndusInd Bank for non-compliance with its directions
- The Reserve Bank of India has imposed a monetary penalty of Rs 4.5 crore on IndusInd Bank Ltd for non-compliance with certain provisions of directions issued by it
- The central bank stated the non-compliance was with respect to certain provisions of directions issued by it on ‘Exposure Norms’, ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances’, among others.
- RBI also flagged non-compliance of its directions on ‘SPARC (Supervisory Programme for Assessment of Risk and Capital) – Monitoring of Information Submission by bank’, ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ read with directions on ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting’, and ‘Disclosure in Financial Statements – Notes to Accounts’.
- “This penalty has been imposed in exercise of powers vested in RBI under…the Banking Regulation Act, 1949 (the Act).
- Headquarters: Mumbai
- Governor: Shaktikanta Das
- Deputy Governor: Shri M. K. Jain, Shri B.P. Kanungo, Michael Debabrata Patra.
About Indusind Bank:
- CEO: Sumant Kathpalia
- Headquarters: Pune
IDBI Bank launches banking services on WhatsApp
- IDBI Bank announced the launch of banking services on WhatsApp. The WhatsApp Banking service is being offered through a dedicated WhatsApp verified number ensuring end-to-end encryption, the Bank stated.
- The facility will enable IDBI Bank customers to avail various essential services such as account balance information, last five transactions, request for a cheque book and an email statement, interest rates, as well as details of IDBI Bank branches/ATMs in the vicinity, to begin with.
About IDBI bank:
- Headquarters: Mumbai
- CEO: Rakesh Sharma
CURRENT AFFAIRS: STATES
IAV’s first phase becomes operational at Thonnakkal
- The Institute of Advanced Virology (IAV) in the district will evolve into a global centre for high-end virology research and help Kerala scale greater heights in its efforts to improve public health and contain virus outbreaks, Chief Minister Pinarayi Vijayan has stated.
- The first phase of IAV, situated at the Bio 360 Life Science Park at Thonnakkal, became functional with two divisions. Dedicating the facility to the State at an online function, the Chief Minister stated it was heartening to note that IAV has become functional at a time when Kerala is battling the COVID-19 pandemic.
- A robust public health system has helped Kerala effectively check the Nipah virus outbreak of 2018 and fight the current COVID-19 pandemic. However, such a system alone will not help the State tackle lifestyle diseases or epidemics. Institutes such as the IAV gain relevance in this context, according to him.
- Capital: Thiruvananthapuram
- Governor: Arif Mohammad Khan
- Chief minister: Pinarayi Vijayan
UP govt to launch 6-month long women empowerment programme ‘Mission Shakti’ to raise awareness
- Uttar Pradesh government will launch 6-month long women empowerment programme ‘Mission Shakti’ to raise awareness and tackle crime against women in the state. Governor Anandiben Patel will launch the campaign in Lucknow while chief minister Yogi Adityanath will kick-start it in Balrampur. Ministers and other people’s representatives will launch the campaign in other districts.
- Six month campaign has two phases, Mission Shakti’ and ‘Operation Shakti. Mission Shakti will feature awareness campaigns related to women’s safety. The CM’s Office stated that initiatives like gender-based sensitisation, training, corporate activity, voice messages, interviews, programmes in Durga Puja and other cultural pandals should be organised to create greater awareness under ‘Mission Shakti’.
- A weeklong special campaign will be launched every month during the campaign to create awareness among masses and sensitise people on the subject.
- Capital: Lucknow
- Governor: Anandiben Patel
- Chief minister: Yogi Adityanath
CURRENT AFFAIRS: APPS AND PORTALS
Leather Sector Skill Council launches SCALE India android app
- The Leather Sector Skill Council (LSSC) announced the launch of Skill Certification Assessment for Leather Employees (SCALE) India android app. Operating under the aegis of the Ministry of Skill Development and Entrepreneurship(MSDE), LSSC is committed to strengthening its digital capabilities on quality assurance across training delivery, monitoring, assessments, verification and linkages to ASEEM portal.
- The services are accessible through the web and android application that virtually works on any smart handheld device, desktop/laptop, smartphones, tablets. Apart from providing end to end quality assurance across training, assessment, and certification services, the app will also help employers engage with other stakeholders seamlessly and provide a marketplace for human capital for the leather industry.
- SCALE will help candidates in the skilling ecosystem to get assessed and certified on their knowledge, skills and behaviour on a specific qualification pack. It also enables access to micro-learning modules for bridging the skill gaps that are identified and can be re-assessed and certified at the end of the learning on the specific qualification pack. It further assists the candidate to become a productive resource who is readily employable in the industry.
About Ministry of Skill Development and Entrepreneurship:
- Mahendra Nath Pandey, Cabinet Minister
- Constituency: Chandauli
- Raj Kumar Singh, Minister of State
J&K L-G launches mobile app for Vaishno Devi devotees
- Lieutenant governor Manoj Sinha, who is also the chairman of Shri Mata Vaishno Devi Shrine Board, launched a mobile app for the cave shrine devotees at the civil secretariat in Srinagar.
- This initiative has been taken by the shrine board with a view to maximise the use of available technology and digitisation for the larger facilitation of devotees.
- Initially, five links have been provided in the app including today’s darshan, live aarti, yatra registration parchi, pooja prasad (home delivery) and donations.
- The facility of booking of various services like battery operated vehicles, helicopter services, accommodation, online havan, etc. will also be made available on the app shortly.
About Jammu and Kashmir:
- Capital: Srinagar (May-October),Jammu (November-April)
- Lieutenant Governor: Manoj Sinha
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CURRENT AFFAIRS: APPOINTMENTS AND RESIGNATIONS
Supreme Court Appoints One-Man Panel To Monitor Prevention Of Stubble Burning
- The Supreme Court appointed a one-man panel of retired apex court judge Justice MB Lokur to monitor the steps taken by the neighbouring states to prevent stubble burning, while brushing aside objections of the Centre, Uttar Pradesh and Haryana.
- The top court ordered deployment of National Cadet Corps, National Service Scheme and Bharat Scouts and Guides for assisting in the monitoring of stubble burning in the agricultural fields of Punjab, Haryana, Uttar Pradesh and Delhi-NCR.
- A bench headed by Chief Justice SA Bobde directed the court-appointed Environment Pollution Control Authority and chief secretaries of Delhi and the three states to assist the Lokur panel to enable physical surveillance of fields where stubble is burnt.
- The panel shall submit its report on stubble burning within 15 days to the apex court.
Vishal V Sharma appointed as next Permanent Representative of India to UNESCO
- Vishal V Sharma has been appointed as the next Permanent Representative of India to the United Nations Educational, Scientific, and Cultural Organization (UNESCO).
- Sharma replaces Jawed Ashraf.
- Headquarters: Paris, France
- Head: Audrey Azoulay
IWF appoints Michael Irani as interim president
- The International Weightlifting Federation announced the appointment of Michael Irani as its interim president.
- Irani is chair of the IWF Medical Committee and a former chair of the IWF Anti-Doping Commission. He has extensive experience of the fight against doping and in safeguarding athlete welfare.
- Headquarters location: Budapest, Hungary
- President: Ursula Papandrea (acting)
Rajkiran Rai elected IBA chief
- The Managing Committee of the Indian Banks’ Association (IBA), at its meeting, elected Rajkiran Rai G, Managing Director and CEO, Union Bank of India, as the Chairman of the Association for the term 2020-21.
- Dinesh Kumar Khara, Chairman, State Bank of India, was elected as Deputy Chairman of the Association for the year 2020-21, IBA stated. Rai was earlier the Deputy Chairman of IBA.
About Indian Banks’ Association:
- Indian Banks’ Association (IBA), formed on 26 September 1946 as a representative body of management of banking in India operating in India – an association of Indian banks and financial institutions based in Mumbai. With an initial membership representing 22 banks in India in 1946, IBA currently represents 237 banking companies operating in India.
- IBA was formed for development, coordination and strengthening of Indian banking, and assist the member banks in various ways including implementation of new systems and adoption of standards among the members.
CURRENT AFFAIRS: MOU
GreenBase, Tamil Nadu sign MoU to set up industrial, logistics park
- GreenBase, a Hiranandani Group subsidiary, stated it has signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up an industrial and logistics park near here at an investment of Rs 750 crore.
- The setting up of the park would see creation of multiple direct and indirect jobs besides boosting the socio-economic growth in the region.
- The proposed park, about 45 kms from the city, envisages development of 2.8 million square feet of built-up area for companies planning to set up manufacturing and logistics units.
- GreenBase COO Hemant Prabhu Keluskar stated the industrial park is amid the sprawling mixed-use integrated township ‘Hiranandani Parks’ at Oragadam offering a cutting-edge advantage with a fully developed integrated socio-civic ecosystem and modern infrastructure.
- With 700 acres of seed land bank across Chennai, Pune, Nashik, Mumbai, and Durgapur, GreenBase has made rapid strides in a short time and is on course to deliver close to 12 million square feet in the next 3-5 years.
About Tamil Nadu:
- Capital: Chennai
- Chief minister: Edappadi K. Palaniswami
- Governor: Banwarilal Purohit
CURRENT AFFAIRS: AWARDS AND HONOURS
Bank of Ghana” wins Central bank of the year award 2020
- “Bank of Ghana” has won the Central bank of the year award 2020. Apart from this, Mark Carney (Governor of the Bank of England) has won the Governor of the year at the Central bank of the year award 2020.
- Central Banking Awards is held annually to recognize excellence in the central banking community. This was the 7th edition of the award and the ceremony was held virtually on.
About Bank Of Ghana:
- Headquarters:Accra, Greater Accra, Ghana
- Governor: Dr. Ernest Kwamina Yedu Addison
Mrs Seema Gupta Director Operations POWERGRID wins 2020 Stevie Awards for Women in Business
- The Stevie Awards for Women in Business honour women executives, entrepreneurs, employees, and the companies they run– worldwide. The Stevie Awards have been hailed as the world’s premier business awards. For this year, the Gold, Silver, and Bronze Stevie Award winners were determined by the average scores of more than 180 business professionals around the world, working on seven juries.
- The Award would be presented to Seema Gupta during a virtual awards ceremony scheduled on December 9, 2020. This global recognition is yet another achievement in Mrs. Seema Gupta’s illustrious career. She has been earlier conferred with Special Commendation Award for Outstanding Women Manager in Public Sector Enterprises by the Honourable President of India in 2017 and was adjudged as the Best Contributor at the ITOMS 2018 Conference in Malaysia.
CURRENT AFFAIRS: SUMMITS AND CONFERENCES
India, Chile hold first joint commission meeting
- India and Chile held their first joint commission meeting and agreed to add new momentum to their relations in a wide range of fields including trade and commerce, agriculture, health and social security, defence and space. The meeting held virtually was co-chaired by External Affairs Minister S Jaishankar and his Chilean counterpart Andres Allamand Zavala.
- Both sides noted that the Joint Commission was a significant development in India – Chile relations, being the first institutionalized dialogue between the two countries at the level of Foreign Ministers. India welcomed Chile’s decision to designate India as a priority country in its foreign policy. Chile will also be opening its Consulate General in Mumbai.
- Capital: Santiago
- President: Sebastián Piñera
- Currency: Chilean peso
India hosts virtual Summit of Ministers of Justice of Shanghai Cooperation Organisation
- India hosted the virtual Summit of Ministers of Justice of Shanghai Cooperation Organisation, SCO.
- The Seventh Meeting of Ministers of Justice of the Shanghai Cooperation Organisation (SCO) Member States was hosted by Shri Ravi Shankar Prasad, Minister of Law & Justice, Communication and Electronics & Information Technology.
- As part of activities of Justice Ministers’ Forum, the Minister urged SCO Member States to promote exchange of ideas, best practices and experiences in identified areas through the platform. He also stressed on widening the spectrum of activities being undertaken in the Forum.
About Shanghai Cooperation Organisation:
- Headquarters: Beijing, China
- Secretary General: Vladimir Norov
FM Nirmala Sitharaman participates in 102nd meeting of World Bank Development Committee Plenary
- Finance Minister Nirmala Sitharaman participated in 102nd meeting of the World Bank Development Committee Plenary through video conference.
- Mrs Sitharaman shared that the Government has announced the first stimulus of 23 billion dollar to provide direct cash transfers and food security measures to the poor. She also mentioned that the Government has committed 2.03 Billion dollar for strengthening health infrastructure in the wake of COVID-19 pandemic.
- The Finance Minister stated that collective action is the key for effective response to the pandemic and welcomed the strong performance in quarter – 4 of financial year 2020 wherein World Bank Group has committed 45 billion dollar for COVID-19 response.
About World Bank:
- Headquarters: Washington, D.C., United States
- President: David Malpass
CURRENT AFFAIRS: RANKING
Global Hunger Index 2020: India ranks 94 out of 107 countries, under ‘serious’ category
- India ranks 94 among 107 countries in the Global Hunger Index 2020, the report released. According to the report, with a score of 27.2, India has a level of hunger that is “serious”. India’s rank was 102 out of 117 countries last year.
- In the index, India features behind Nepal (73), Pakistan (88), Bangladesh (75), Indonesia (70) among others. Out of the total 107 countries, only 13 countries fare worse than India including countries like Rwanda (97), Nigeria (98), Afghanistan (99), Liberia (102), Mozambique (103), Chad (107) among others.
- According to the report, 14 per cent of India’s population is undernourished. It also says that the country recorded a child stunting rate of 37.4 per cent. Stunted children are those who have a “low height for their age, reflecting chronic undernutrition”. In 2018, India ranked 103 among 119 countries on the global hunger index.
DAILY CA 16th OCT
- Global Handwashing Day- 15th oct
- International Day of Rural Women-15th oct
- World Food Day- 16th oct
- Cabinet Decisions
- Dr Harsh Vardhan launches second phase of “Thalassemia Bal Sewa Yojna” for underprivileged thalassemic patients
- Govt Launches ARHC Portal Under PM Awas Yojana
- Foreign Secretary inaugurates 1st edition of Lectures designed to introduce India to foreign diplomats posted in New Delhi
- India designated Vice-Chair of OECD Working Group on GLP
- Union Minister Nitin Gadkari initiates Asia’s longest ZojiLa Tunnel works virtually
- Films Division to stream documentary ‘People’s President’ on Dr APJ Abdul Kalam’s birth anniversary
- NTPC collaborates with cement manufacturers across country to supply fly ash
- India among high-burden TB nations to register 25-30 pc drop in case notifications: WHO report
- After Sputnik V, Russia grants approval to 2nd COVID-19 vaccine EpiVacCorona
- Flipkart-owned PhonePe launches car, bike insurance in association with Bajaj Allianz General Insurance
- IRDAI asks life insurers to launch ‘Saral Jeevan Bima’ scheme by Jan 1
- Axis Mutual Fund launches banking ETF
- Punjab to launch its own SC post-matric scholarship scheme
- UP govt decides to set up women help desk in every police station of state
- Delhi govt launches ‘Red Light On, Gaadi Off’ initiative
- J&K Govt inks MoU with Flipkart to provide platform for local artisans, craftsmen, weavers to reach customers worldwide
- Indian Bank inks MoU with Ministry, SIDBI for street vendors
- Stellapps launches ‘mooPay’ for dairy farmers in Rajasthan
- CCI approves acquisition of solar projects by Adani Green Energy Twenty-Three Ltd
- Kyrgyzstan President Sooronbai Jeenbekov resigns
- BoG wins Central Bank of the Year award
- Indian-origin philanthropist Harish Kotecha wins lifetime achievement award in US
- Book “Mr Prime Minister, We Shrank the Dragon” by author Pradeep Goorha
- Tokyo to host international gymnastics event in November
- Former New Zealand all-rounder John R Reid passes away at 92
- Oscar-winning costume designer Bhanu Athaiya passes away at 91
DAILY CA 17th OCT
- International Day for the Eradication of Poverty- 17th oct
- GST compensation: Centre to borrow Rs 1.1 lakh crore to meet shortfall
- Union Education Minister virtually launches ‘KAPILA’ Kalam Program for IP Literacy and Awareness Education campaign
- Union Minister Narendra Singh Tomar inaugurates Food and Agri Week 2020
- Myanmar Navy to acquire its first submarine, INS’ retrofitted Sindhuvir
- Jana Bank to be sponsor bank for Ashoknagar Co-operative Bank
- SBI authorised to issue, encash Electoral Bonds from Oct 19-28
- RBI imposes Rs 4.5-cr penalty on IndusInd Bank for non-compliance with its directions
- IDBI Bank launches banking services on WhatsApp
- IAV’s first phase becomes operational at Thonnakkal
- UP govt to launch 6-month long women empowerment programme ‘Mission Shakti’ to raise awareness
- Leather Sector Skill Council launches SCALE India android app
- J&K L-G launches mobile app for Vaishno Devi devotees
- Supreme Court Appoints One-Man Panel To Monitor Prevention Of Stubble Burning
- Vishal V Sharma appointed as next Permanent Representative of India to UNESCO
- IWF appoints Michael Irani as interim president
- Rajkiran Rai elected IBA chief
- GreenBase, Tamil Nadu sign MoU to set up industrial, logistics park
- Bank of Ghana” wins Central bank of the year award 2020
- Mrs Seema Gupta Director Operations POWERGRID wins 2020 Stevie Awards for Women in Business
- India, Chile hold first joint commission meeting
- India hosts virtual Summit of Ministers of Justice of Shanghai Cooperation Organisation
- FM Nirmala Sitharaman participates in 102nd meeting of World Bank Development Committee Plenary
- Global Hunger Index 2020: India ranks 94 out of 107 countries, under ‘serious’ category