Current Affairs Pocket : 13 – 14 October 2020

PM Modi releases Rs 100 commemorative coin in honour of 100th birth anniversary of Vijaya Raje Scindia
* Prime Minister Narendra Modi released a commemorative coin of Rs 100 to mark the birth centenary of Rajmata Vijaya Raje Scindia, one of the founder member of the ruling BJP, through a virtual ceremony.
* The special coin has been minted by the Ministry of Finance.
* Vijaya Raje Scindia, who dedicated her life to poor people, is also popularly known as the Rajmata of Gwalior.

U.S. Economists Paul R. Milgrom and Robert B. Wilson Wins Nobel Memorial Prize in Economic Sciences
* The 2020 Nobel Prize in Economic Sciences has been awarded jointly to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats”
* The award is officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020.
* The laureates in economic sciences are selected by the Royal Swedish Academy of Sciences in Stockholm.
* It comes with a gold medal and a cash award of 10 million Swedish krona ($1.12 million).

Los Angeles Lakers beat Miami Heat to win 17th NBA Championship
* The Los Angeles Lakers defeated the Miami Heat to win the National Basketball Association (NBA) Championship 2020 held on 12 October 2020.
* This is the 17th NBA title win for LA Lakers and also their first since 2010, after late Kobe Bryant’s fifth and final title a decade ago.
* LeBron James of the Lakers’ was named the NBA Finals Most Valuable Player (MVP) for the fourth time in his career.
* With this, he became the first player in league history to be named Finals MVP with three different franchises.

Kerala becomes first State of India to go completely digital in the public education sector
* Kerala has become the first state in the country to have high-tech classrooms and labs in all its public schools.
* Chief Minister Pinarayi Vijayan announced this through video conference on 12 October 2020.
* All public schools in the state have become smart with high-tech classrooms and high-tech lab.
* The project to implement the ‘high-tech school and high-tech lab’ projects was carried out by the Kerala Infrastructure and Technology for Education (KITE) with financial assistance from Kerala Infrastructure and Technology for Education (KIIFB).

IMF projects India’s GDP to contract 10.3% in 2020; rebound with 8.8% growth in 2021-22
* In its latest ‘World Economic Outlook’ report, the International Monetary Fund (IMF) has projected the Indian economy to contract by 10.3 percent in 2020-21, from its earlier prediction of 4.5 percent due to rise in Covid cases.
* However, IMF estimates the GDP of India to grow at 8.8 percent in 2021-22, as compared to 6 percent predicted earlier, regaining the position of the fastest growing emerging economy.
* On the other hand, the Fund expects the world economy to contract by 4.4 percent in 2020. This projection was -5.2 percent earlier.

Axis Bank launches ACE Credit Card in collaboration with Google Pay and Visa
* Axis Bank has launched a new entry-level credit card named Axis ACE Credit Card, with focus on increasing participation of users in the digital economy.
* The card has been launched in collaboration with Google Pay and will run on Visa (Signature) platform.
* ACE Credit card users would get 5% Cashback on Bill payments (electricity, internet, gas and more), DTH and mobile recharges done through Google Pay.

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