Current Affairs Dated 27-10-2020

Mahesh Kanodia, the famous Gujarati musician, singer & former Parliamentarian passed away.

About Mahesh Kanodhia: He was born on 11 November 1939 at Kanoda village - now in Patan district, Gujarat. He worked in Gujarati cinema for four decades as a musician, singer and composer.

Political Career : Thrice he was elected as the BJP MP from Patan, Gujarat. He represented Patan Lok Sabha constituency as a Member of Parliament of the BJP thrice between 1991 and 1999.

Music Career: He received a lot of awards for his performance as a music composer and singer for Gujarati films including Jigar and Ami, Tanariri, Jog Sanjog and Laju Lakhan.

On 27.10.2020 India and the United States signed the BECA Agreement - Basic Exchange and Cooperation Agreement for Geo-Spatial Cooperation. The announcement was made after a meeting between the Union Defence Minister Rajnath Singh and his US Counterpart Mark Esper, who is visiting India for the India-US 2+2 dialogue along with US Secretary of State Michael Pompeo.

What is the BECA Agreement?

BECA is an agreement proposed between the National Geospatial-Intelligence Agency of the US Department of Defence and the Union Ministry of Defence. It will facilitate India and US to exchange important military information with each other.

On 27.10.2020 The Union Housing and Urban Affairs Minister, Hardeep Singh Puri has launched the ‘e-Dharti Geo Portal’. 


What is the main Aim of the Portal?
- The main aim of this portal is to integrate legacy drawings such as - maps and lease plans in the management information system. With the launch of the portal the property certificate details and outline map of the property can be easily accessed online.

Samsung Electronics a South Korea-based electronics conglomerate, has topped the list of ‘World’s Best Employer 2020′ published by Forbes’. 

The global list features 750 multinational and large corporations headquartered in 45 countries.

On October 27, 2020 The Reserve Bank of India has directed all lending institutions including non-banking financial companies to implement the waiver of interest on interest schemes for loans up to Rs 2 crore.


During the COVID- 19 pandemic The Reserve Bank had announced a moratorium on repayment of debt for six months starting from March 1, 2020 to help businesses and individuals overcome financial problems that were being faced.
On October 23.10.2020, The Central Government announced a scheme to grant ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. 

The Reserve Bank in its notification has advised all the lending institutions must follow the scheme's provisions and take necessary action within the stipulated timeline. 

On 26.10.2020, The Delhi Court sentenced Dilip Roy, former Union Minister to 3years of imprisonment in conncetion with the 1999 Coal block allocation scam but on Tuesday 26.10.2020, Delhi High Court suspended the three-year sentence saying that Ray was part of the Atal Bihari Vajpayee-led NDA government that was acting as a caretaker government when the particular allocation was approved.
 

On 27.10.2020, The Ministry of Home Affairs notified new land law for Union Territories - Jammu and Kashmir and Ladakh which will allow any Indian citizen to purchase non-agricultural land. 
This notification will come into force with immediate effect. 

On 27.10.2020, The Finance Minister Nirmala Sitharaman said that there are visible signs of a revival in the economy but GDP growth for the year 2020-2021 is going to be either negative or near zero. 
The primary reason for this is the 23.9% contraction in the first quater of the year.
However, The Finance Minister added, that India will be one of the fastest growing economies, next year.

The Basic Exchange and Cooperation Agreement - BECA is an agreement proposed between the National Geospatial-Intelligence Agency of the US Department of Defence and the Union Ministry of Defence.

It mainly has four Agreements: 

1. Geo-spatial cooperation Agreement. It will facilitate India and US to exchange important military information with each other.
2. General Security of Military Information Agreement - GSOMIA in 2002. Its is a ollow-up extension agreement - Industrial Security Annex ISA.
3. The Logistics Exchange Memorandum of Agreement - LEMOA in 2016. 
4. The Communications Compatibility and Security Agreement - COMCASA in 2018.