Economy & Banking Current Affairs

Vaccine portal launched in India

On September 28, 2020, the Union Minister Dr Harsh Vardhan launched a vaccine portal for COVID-19. The portal aims to create awareness among masses. Highlights The portal will provide vaccine related information. This will include efforts made in India towards vaccine development against COVID-19. Alongside, the Minister also launched a history timeline of the Indian ..

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India’s Sandalwood trees facing serious threats from Sandalwood Spike Disease

The Sandalwood Spike Disease (SSD) has infected several aromatic sandalwood trees in Kerala and Karnataka. This was founded based on the study by Institute of Wood Science and Technology. Highlights According to the study, the sandalwood trees in Marayoor forests of Kerala and several other forest regions in Karnataka are heavily infected with SSD. The ..

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GoI to increase public health care expenditure from 1.15% to 2.5% by 2025

On September 27, 2020, the Union Health Minister Dr Harsh Vardhan announced that Government of India is to increase the health care expenditure in the country by 2.5% of GDP by 2025. Currently, the government is spending 1.15% of GDP to fulfil health care needs. Highlights The increase is being done based on the recommendation ..

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NPPA caps prices of oxygen cylinders

On September 26, 2020, the National Pharmaceutical Pricing Authority capped the prices of oxygen cylinders and medical oxygen cylinders. Background The demand of medical oxygen in India has increased by four times due to COVID-19 pandemic. Currently, demand for medical oxygen in the country has increased from 750 metric tonnes per day to 2,800 metric ..

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India-Denmark sign Memorandum of Understanding on Intellectual Property Cooperation

On September 26, 2020, the Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Industry, Business and Financial Affairs signed Memorandum of Understanding on Intellectual Property Cooperation. Highlights The countries signed the agreement on the following To exchange experiences, best practices and knowledge of IP awareness among businesses, public, research and educational ..

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RBI to introduce Positive Pay System to check Cheques

The Reserve Bank of India is to introduce “Positive Pay System” from January 2021. The system makes it mandatory to re-confirm key details of cheques that need payments beyond Rs 50,000. Highlights Under the new system, the issuer of the cheque will have to submit details of the cheque such as name of the beneficiary, ..

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