Current affairs April 03 2020

1. The statehood day of which Indian state is celebrated as ‘Utkal Divas’ on April 1?

Ans: Odisha (The State of Odisha was established on April 1, 1936. It was established as a province of British India on April 1, 1936. It was named Orissa. The English name was changed to Odisha on November 4, 2011.In 3rd Century BC, the state was ruled by the Great Emperor Ashoka. Later it was ruled by several other monarchs such as the Harshas.  During the 8th century the state was known as Kosala and Utkala kingdoms. Even today the statehood day is celebrated as “Utkal Divas”.Later in 16th century, Odisha was rued by Sultanate of Bengal. In mid-18th century Odisha was under the rule of Marathas.Later after the Carnatic wars, it came under the rule of Madras Presidency of British.

2. Arjun Dev, who recently passed away, was associated with which profession?

Ans: Historian ( Born on November 12, 1938 in Leiah, West Punjab (now in Pakistan), he did his schooling in Ambala and then studied at Kirori Mal College, Delhi University. He is survived by his wife Indira Arjun Dev with whom he shared every aspect of his professional life.Veteran Indian historian Arjun Dev, who co-authored several popular NCERT books, recently passed away in Noida. Mr. Arjun Dev served as a historian at the National Council of Educational Research and Training (NCERT) for many years. He wrote many famous NCERT books on Modern and Contemporary India and the World, along with his wife Indira Arjun. In the later part of his life, he was associated with the ‘Towards Freedom Project’ of the Indian Council of Historical Research.

3. Navaratnalu – Pedalandariki Illu’ is a welfare scheme of which Indian state, under which 25 lakh house sites are to be distributed at concessional rates to the poor?

Ans: Andra Pradesh (Navaratnalu Pedalandariki Illu Programme: 25 lakh poor to get houses in AP. On March 31, 2020, the Government of Andhra Pradesh modified the guidelines of Navatatnalu-Pedalandariki Illu programme. The scheme is called “Houses for all the poor”. The guidelines were changed based on the directions of the High Court.Under the scheme, house sites are to be allotted to the poor at Re 1 to the poor with white ration cards. The State Government is to collect Rs 20 frofrom the people (Rs 10 for stamp paper charges and Rs 10 for lamination charges). The Beneficiaries shall use these sited to construct houses.)

4. As per the recent changes in the direct tax system, what is the number of days NRIs needed to spend in India to qualify as Indian tax resident?

Ans: 120 ( Till end of FY 2019-20, NRIs (covers Indian citizens and Persons of Indian Origin) included those individuals who visited India for less than 182 days in a financial year. In February 2020, the Budget 2020 proposed to reduce this period to 120 days for all NRIs.As such, besides monitoring the number of days present in India, the visiting Indian is also required to keep tab of his Indian taxable income. This is because once income taxable in India or taxable Indian income exceeds Rs 15 lakh, then provisions related to stay exceeding 120 days, as mentioned above will be applicable.only in cases where the total Indian income (i.e., income accruing in India) of such visiting individuals during the financial year is more than Rs 15 lakh. Accordingly, visiting NRIs whose total income (which is defined as taxable income) in India is up to Rs 15 lakh during the financial year will continue to remain NRIs if the stay does not exceed 181 days, as was the case earlier.

5. The Foreign Trade Policy, which has been extended till March 2021, came into force in which year?

Ans: 2015 ( The Union Ministry of Commerce and Industry recently announced changes in the Foreign Trade Policy (FTP) of the Indian Government. The present policy had been valid for 5 years up to March 31, 2020 while it came into force on 1st April, 2015. At the backdrop of the coronavirus pandemic, the Government has decided to extend the policy by one more year, up to 31 March, 2021.)

6. Which Indian private sector bank has recently rolled out banking services on WhatsApp amidst the nation-wide lock-down?

Ans: ICICI Bank ( India’s leading private lender ICICI Bank recently announced the launch of banking services on WhatsApp amid the nation-wide lockdown resulting from the coronavirus pandemic. The customers have to save ICICI Bank’s verified WhatsApp profile number in their contact. Using the WhatsApp banking services, the customers are provided with several banking services including checking their savings account balance, last transactions, credit card limit and blocking/unblocking credit and debit card.)

7. All private sector and foreign banks should intimate re-appointment of MD & CEO how many months in advance, as per the new stipulation of the Reserve Bank of India?

Ans: Six ( As per the new stipulation of the Reserve Bank of India, all private sector and foreign banks will have to intimate cases of re-appointment of Managing Director and Chief executives to the Central Bank, 6 months in advance. Earlier the practice was intimating the cases 4 months in advance. The number of names required to be mentioned in cases of fresh appointments of MD and CEOs has also been reduced to two, from three earlier.)

8. The report titled ‘East Asia and Pacific in the Time of Covid-19’ has been released by which global organisation?

Ans: World Bank ( The April 2020 update of the World Bank, titled ‘East Asia and Pacific in the Time of Covid-19’, it has estimated that nearly 11 million people would be affected by poverty in East Asia and the Pacific as a result of the coronavirus pandemic. The World Bank has earlier estimated that about 35 million people would escape poverty in East Asia and the Pacific in 2020.)

9. The 2nd Extraordinary G20 Finance Ministers and Central Bank Governors (FMCBG) meeting was held under the Presidency of which country?

Ans: South Arbia ( The 2nd Extraordinary G20 Finance Ministers and Central Bank Governors (FMCBG) meeting was recently organised via tele-conferencing under the Presidency of Saudi Arabia. Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman participated in the virtual meeting. The impact of COVID-19 pandemic on the global economy and markets was discussed and coordinate efforts in response to this global challenge. Finance Minister asked for reviewing and enhancing the IMF toolkit.)

10. Which payment company has partnered with ICICI Lombard General Insurance to launch the first coronavirus insurance cover for merchants?

Ans: Bharatpe ( According to BharatPe, the new insurance policy will help shopkeepers get 100% of their hospitalisation expenses in the event of contracting COVID-19.The payments technology company said that the new insurance product is a step forward in its attempt to roll out industry-first initiatives for shopkeepers. Furthermore, the company said that the coronavirus insurance solution is also a ‘first of its kind’ sachet product from ICICI Lombard designed for merchants.

BharatPe CEO and co-founder Ashneer Grover said: “Merchants’ well-being is our immediate focus, and as Coronavirus turns into a pandemic, we have designed a unique insurance cover with ICICI Lombard to provide financial support to merchants. Shopkeepers will get 100% of the opted Sum Insured as a lump sum in the event of the first diagnosis itself.)

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