Daily Current Affairs Update | 18 September 2020

1.Summits and Conferences

NSA Meet of BRICS Nations held virtually.

The National Security Advisors of the BRICS nations met virtually.

The meeting was chaired by Russia.

India was represented by Ajit Doval.

The countries discussed their views on various security related issues like, biosafety, cyber security, International Security, Counter Terrorism.

Quick Fact: BRICS nations constitute Brazil, Russia, India, China and South Africa. Except South Africa, the other countries are among the largest countries in terms of population and land area.

2.Miscellaneous

India ranks 116th on Human Capital Index.

India has ranked 116th on the Human Capital Index with a score of 0.49 

The 2020 edition of Human Capital Index update includes the health and education details of 174 countries and covers 98% of the world population.

The theme for this year is ‘Human Capital in times of COVID 19’

This year’s analysis shows that before being hit by the pandemic, most countries had made steady progress in terms of building human capital, especially the low income countries.

Quick Fact: The Human Capital Index is prepared and released by th World Bank 

3.National Affairs

Kosi Mahasetu Bridge to be dedicated to the country by the PM Narendra Modi

Prime Minister Narendra Modi is to dedicate the Kosi Mahasetu Bridge, along with 12 other rail projects, to the nation.

These projects are related passenger facilities and will aid the people of Bihar.

The Kosi Mahasetu Bridge is 1.8 km long and will provide a shorter route to the Eastern parts of India. 

Quick Fact:  Kosi River is one of the major tributaries of the River Ganga and it houses the Sagarmatha National Park on its bank.

4.Summits and Conferences

G20 Environment Ministers Meet held virtually.

The meet was a part of the Sherpa Track for the G20 Leaders Summit, 2020.

The launch of ‘The Global Initiative on reducing land degradation’ took place at the meet.

The theme of the meeting was : Realizing opportunities of 21^st century for all.

Coral Reef Programme was also launched at the meet.

Quick Fact: India was represented by the Union Environment Minister, Prakash Javdekar.

5.Summits and Conferences

IBSA Foreign Ministers Meet.

IBSA stands for India, Brazil and South Africa.

The meeting was chaired by India’s foreign Minister, S. Jaishankar.

The ministers, on behalf of their countries agreed to renew their commitment towards United Nations Security Council and also agreed to cooperate with international organizations such as African Union Peace and Security Council, United Nations, etc.

The countries also agreed to extend their support in accordance to Ezulwini Consensus and Sirte Declaration..

Quick Fact:  Ezulwini Consensus is a position on international relations, agreed upon by the African Union. Ezulwini is a valley located in Switzerland and the consensus was signed here.

6.Sports

Upgradation of 8 Khelo India Sports Centre for Excellence announced by the sports ministry.

Sports Ministry has decided to upgrade eight Khelo India Sports Centre for Excellence (KISCE) in order to groom future olympic champions.

Sports Minister KIren Rijiju made the announcement..

The upgradation is estimated to cost around 95.19 crore.

Quick Fact: Eight states that have received the approval for setting up of KISCE are Odisha, Mizoram, Telangana, Manipur, Nagaland, Arunachal Pradesh, Karnataka and Kerala.

7.International Affairs

Abraham Accord signed by Israel, Bahrain and UAE

Abraham Accord was signed under US President, Donald Trump. 

It was signed by Israel’s Prime Minister, Benjamin Netanyahu and foreign ministers of Bahrain and UAE.

According to the accord, UAE and Bahrain will exchange ambassadors with Israel.

The Countries will also work together in areas like trade, tourism, healthcare and security.

Quick Fact: This is the first peace deal between Israel and Arab Countries in 26 years.

8.Polity and Governance

Banking Regulation (Amendment) Bill,2020 passed in the Lok Sabha

The main aim of the bill is to bring cooperative banks under the Reserve Bank of India

The bill will replace the Banking Regulation (Amendment) Ordinance 2020, promulgated in June 2020.

The regulation of the functioning of the banks in terms of management, licensing and operation will be governed by this bill.

Cooperative societies like the Primary Agricultural Credit Society and land mortgage banks are excluded from this bill.  

Quick Fact: The bill amends the Banking Regulation Act of 1949.