Daily Current Affairs Updates: 20 November 2014

1) Deendayal Upadhyaya Gram Jyoti Yojana - Govt's new rural electrification scheme: Government on 20 November 2014 approved Rs 43,033-crore rural electrification scheme Deendayal Upadhyaya Gram Jyoti Yojana. The scheme will replace the existing Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY). The scheme includes aseparate agriculture and non agriculture feeders facilitating judicious rostering of supply to agricultural and non-agricultural consumers in rural areas. The scheme also includes strengthening and augmentation of sub transmission and distribution infrastructure in rural areas, including metering of distribution transformers and feeders. The estimated cost of the scheme for above two components is Rs 43,033 crore which includes the requirement of budgetary support of Rs 33,453 crore from the government over the entire implementation period.

2) CBI chief Ranjit Sinha removed from 2G scam probe by Supreme Court: In a major embarrassment for the Central Bureau of Investigation, the Supreme Court on 20 Nov 2014 asked the agency chief Ranjit Sinha to recuse himself from the ongoing probe into the multi-crore 2G spectrum allocation scam. "We direct Ranjit Sinha not to interfere in the 2G probe," the apex court said, adding that his subordinate could take over the investigation into alleged illegal allocations of second-generation airwaves for mobile connectivity by the previous UPA government.

3) 45th International Film Festival of India began at Goa: The 45th International Film Festival of India began at Goa on 20 November 2014.Mega-star of Indian cinema Amitabh Bachchan was the Chief Guest at the opening ceremony. The 11-day cinematic extravaganza will screen 178 foreign films in various categories. Information and Broadcasting Minister Arun Jaitley, Defence Minister Manohar Parrikar and Minister of State for I&B, Rajyavardhan Rathore were present at the function held at Dr Shamaprasad Mukherjee stadium in Taleigao village. The festival opened with Iranian filmmaker Mohsen Makhmalbaf's film 'The President', about a dictator who comes face to face with the people he previously subjugated. 

4) Rajinikanth conferred Centenary Award at IFFI: South Indian cinema’s superstar Rajinikanth was bestowed with the Centenary Award for Indian Film Personality of the Year at the opening ceremony of the 45th International Film Festival of India (IFFI). Union Minister Arun Jaitley and Bollywood actor Amitabh Bachchan, who was the chief guest, presented the award, which consists of a cash prize of Rs.10 lakhs, a certificate and the Silver Peacock Medal. It was instituted last year to commemorate 100 years of Indian Cinema.

5) An Integrated Power Development Scheme launched: The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, gave its approval to launch "Integrated Power Development Scheme" (IPDS) with the objectives of: 1. Strengthening of sub-transmission and distribution network in the urban areas; 2. Metering of distribution transformers /feeders / consumers in the urban areas. 3. IT enablement of distribution sector and strengthening of distribution network as per CCEA approval dated 21.06.2013 for completion of targets laid down under Restructured Accelerated Power Development and Reforms Programme (RAPDRP) for 12th and 13th Plans by carrying forward the approved outlay for RAPDRP to IPDS.

6) HRD Ministry planning ‘Think in India’ drive: In line with Prime Minister Narendra Modi’s ‘Make in India’ campaign, the HRD Ministry is planning to come up with a ‘Think in India’ drive to encourage students and researchers to come up with innovations and new ideas and to keep the talent back home from leaving abroad. Union Minister for Human Resource Development Smriti Irani said this at an event organised by the Confederation of Indian Industries (CII).

7) Kotak Mahindra Bank to acquire ING Vysya Bank: The board of Kotak Mahindra Bank has approved a merger with ING Vysya Bank. Kotak Mahindra Bank and ING Vysya Bank are private sector banks, offering a wide range of financial services. The combined entity will have over 1,200 branches across the country and a market value of nearly Rs 1 lakh crore. In an all-share transaction, shareholders of ING Vysya Bank will get 725 shares of Kotak Mahindra Bank for every 1,000 shares held. This will increase Kotak's branches to 1,214 from 641 now. Kotak has a 68 per cent presence in the west and north while ING Vysya is strong in the south, especially Andhra Pradesh, Telangana and Karnataka. Kotak will gain 2 million customers from this merger.

8) India continue to top ODI team table, Kohli at number 2: India retained the numero uno spot in the latest Reliance ODI team rankings while Virat Kohli maintained the number two position with skipper MS Dhoni static at the seventh place in the batting chart released on 20 Nov 2014.

9) Sebastian Vettel joins Ferrari after Alonso's exit: Fallen Italian giants Ferrari relaunched their Formula One world title ambitions by confirming Sebastian Vettel on a three-year deal on 20 Nov 2014 that will see the German team up with Kimi Raikkonen from next year. Ferrari's announcement came minutes after confirmation of Fernando Alonso's departure from the team after a five-year spell in which the Spaniard ultimately failed to deliver a world championship title.