RBI places Lakshmi Vilas Bank under moratorium; Withdrawal limit- Rs 25,000
* The Reserve Bank of India has placed The Lakshmi Vilas Bank Ltd. under Moratorium, which means that there will be certain restrictions on the bank regarding making payments to its customers and making investments/loans.
* RBI has taken this step as the financial position of The Lakshmi Vilas Bank Ltd. has undergone a steady decline and it has incurred continuous losses over the last three years, eroding its net-worth.
* The moratorium has been placed on LVB for 30 days starting November 17, 2020.
* A customer who holds an account in LVB can withdraw a maximum of Rs 25,000 from his account till the time the bank is under moratorium.
Madhya Pradesh CM Shivraj Singh Chouhan announces ‘Gau Cabinet’ for protection of cows
* The Madhya Pradesh government, led by Chief Minister Shivraj Singh Chouhan, has decided to set up a ‘Gau Cabinet’ for the protection, conservation and promotion of cows in the state.
* The Cabinet will comprise of the departments of animal husbandry, forests, panchayat and rural development, revenue, home and farmers welfare.
* The first meeting of the Cabinet will be held at 12 pm on ‘Gopashtami’ on November 22 at the Cow Sanctuary in Agar-Malwa district named ‘Kamdhenu Gau Abhyaranya ‘.
* It is India’s first cow sanctuary which was set up by the Bharatiya Janata Party (BJP)-led Madhya Pradesh government in September 2017.
India’s AI supercomputer Param Siddhi ranks 63rd in TOP500 most powerful non-distributed computer systems in the world
* Param Siddhi, the high performance computing-artificial intelligence (HPC-AI) supercomputer established under National Supercomputing Mission (NSM) at C-DAC has has been ranked at the 63rd position in TOP 500 list of most powerful non-distributed computer systems in the world released on 16 November 2020.
* Besides this, two other Indian supercomputers have also found place in the list. They are Pratyush (78) and Mihir (145).
* The 2020 update is the 56th edition of the TOP500.
* Japanese supercomputer ‘Fugaku’ is the world’s most powerful supercomputer, since June 2020.
Maia Sandu Elected as First-Ever Woman President of Moldova
* Maia Sandu, a former World Bank economist, has won Moldova’s 2020 Presidential election to become the President-elect of the country. She received 57.72% of the vote.
* She is the first women to be elected as the President of Moldova and would assume office on 23rd December 2020.
Vijayanagara becomes 31st District of Karnataka, carved out of Ballari district
* The Karnataka Government has approve to carve out Vijayanagara as new district of the state.
* Vijayanagara will be the 31st district of the State.
* The new district would be carved out of Ballari and named after the Vijayanagara empire that ruled from this region.
Moody’s projects India GDP at -10.6% for FY21; 10.8% for FY22
* Moody’s Investors Service has revised India’s GDP growth forecast to (-) 10.6 percent for the current fiscal 2020-21 (FY21), in its November 2020 update, from its earlier estimate of (-) 11.5 percent in September 2020.
* For next fiscal 2021-22, Moody’s projected India to grow at 10.8 percent, as against the previous estimate of 10.6 percent.