Current Affairs of 4 Nov

Wilful Defaulters - Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of wilful defaulters’ list. Irked over the denial of information on the disclosure of the names of wilful defaulters who have taken bank loans of Rs 50 crore and above by the RBI in spite of a Supreme Court order.

Train Services Between India and Nepal - The first passenger train to run on broad gauge between India and Nepal is likely to run from December this year. The train will run from Jayanagar in Bihar to Kurtha in Dhanusa district in Janakpur Zone of south-eastern Nepal, which is a 34 km stretch. No visa will be required for Indian and Nepalese nationals crossing the border through this stretch.

Public Credit Registry - Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies. The PCR will also include data from entities like market regulator Sebi, the corporate affairs ministry, Goods and Service Tax Network (GSTN) and the Insolvency and Bankruptcy Board of India (IBBI) to enable the banks and financial institutions to get 360 degree profile of existing and prospective borrowers on a real-time basis.

INS Viraat as a maritime Museum - Maharashtra cabinet cleared the decks for the Navy's longest-serving aircraft carrier, INS Viraat, now decommissioned, to be converted into India's first-ever moored maritime museum-cum-marine adventure centre. The ship's conversion will be on public-private-partnership (PPP) basis.

Pakistan Prime Minster visited China - Without specifically referring to the Kashmir issue, China backed Pakistan for trying to resolve “outstanding issues” with India through dialogue, and appeared to support Islamabad on two other key topics — the expansion of the Nuclear Suppliers Group (NSG) and counter-terrorism. The statement, issued at the end of the Beijing leg of Pakstain Prime Minister Imran Khan.

Gyan Kumbh at Patanjali Yogpeeth in Haridwar.- President Kovind inaugurates Gyan Kumbh at Patanjali Yogpeeth in Haridwar.

Atal Pension Yojana - More than one crore 20 lakh subscribers have joined Atal Pension Yojana. States, such as Uttar Pradesh, Bihar, Andhra Pradesh, Maharashtra and Karnataka are the top contributors in the Atal Pension Yojana enrollment. 

International Payment Through Blockchain - In a first for India, British banking major HSBC has executed a trade finance transaction involving an export by Reliance Industries to an American client using the blockchain, which massively reduced the time taken for processing the documents. The blockchain-enabled letter of credit transaction facilitated a shipment between Reliance and the US-based Tricon Energy.

First Container Movement in Inland Waterways - In the maiden container since Independence on inland vessel MV RN Tagore, food and beverages major PepsiCo is moving its 16 containers from Kolkata to Varanasi. Prime Minister Narendra Modi on November 12 will receive a container vessel in the new multi-modal terminal, Varanasi which the PM will dedicate to the nation. The Kolkata to Varanasi route is part of what is called National Waterways-1.

Financial Stability and Development Council - The Financial Stability and Development Council, FSDC, held a meeting in New Delhi which was presided over by Finance Minister Arun Jaitley. RBI Governor Urjit Patel, financial sector regulators and top officials of the Finance Ministry attended the meeting. It reviewed the progress in setting up a Computer Emergency Response Team in the financial sector under a statutory framework.