Current Affairs in Short: 15 June 2020
A 500-year-old ancient temple of Lord Vishnu, which was submerged in Odisha’s Mahanadi river has resurfaced after 15 years.
PepsiCo to invest USD 3 million for safe water access
• PepsiCo Foundation announced on June 15, 2020 that it will invest USD 3 million to provide safe water access to agricultural communities and help women in high water-risk areas in West Bengal and Maharashtra in association with WaterAid.
• The safe water access programme will provide around 2 lakh farmers and their families access to piped water supply for household use and increased water resources. It will also help establish community-managed water distribution systems in these communities.
• This decision is a part of PepsiCo Foundation's new goal of reaching 100 million people with safe water access worldwide by 2030. The foundation has helped more than 44 million people gain access to safe water since 2006.
France to completely reopen its economy including nursery & primary schools, restaurants
• French President Emmanuel Macron announced on June 15, 2020 that France is ready to fully reopen its economy including all restaurants to accelerate the country's recovery post COVID crisis.
• The French President stated that all restaurants in Paris will be allowed to open indoor seating starting today. Till now only outdoor seating was allowed. The restaurants in other regions had opened earlier.
• All nursery schools, primary schools and junior high schools will also open and be mandatory for all students from June 22.
• The second round of local elections that had been interrupted by the virus lockdown will now take place on June 28.
IBBI reconstitutes advisory panel on insolvency, liquidation
• The Insolvency and Bankruptcy Board of India (IBBI) has reconstituted its advisory panel on corporate insolvency resolution and liquidation. The advisory panel is headed by Kotak Mahindra Bank CEO Uday Kotak.
• The panel has been expanded to include 14 members in comparison to earlier 12. Besides Uday Kotak, the panel includes Piramal Group Chairman Ajay Piramal, BSE CEO Ashish Kumar Chauhan and the Chairman of the Indian Banks' Association.
• The new members of the committee include Ashu Suyash (MD/ CEO of Crisil), R Shankar Raman (CEO of Larsen & Toubro) and Rashesh Shah (CEO of Edelweiss Group).
• The committee will provide professional support on any matter relating to the corporate insolvency resolution and liquidation dealt with by the IBBI board under the Insolvency and Bankruptcy Code, 2016.
• The term of most of the committee members is scheduled to end on June 11, 2023. The committee was last reconstituted in 2017.
Bank of Baroda to completely digitise lending operations
• Bank of Baroda, India’s third-largest lender has decided to completely digitise it’s lending operations including agriculture, home, MSME, auto and personal loans.
• The bank is looking to completely do away with paper-based lending. It has reached out to the big four consultants like McKinsey and Boston Consulting Group to help set up a “digital lending department”.
• The approval and disbursal of fresh loans will now happen through the new digital platform while past loans will also be digitised to cut costs and improve profitability. The bank is planning to set up its digital department within two months.
500-year-old submerged Odisha temple reappears
• A 500-year-old ancient temple of Lord Vishnu, which was submerged in Odisha’s Mahanadi river has resurfaced after 15 years. The temple was submerged sometime in the 19th century due to change in the course of the river.
• The top of the Gopinath Dev temple is now visible due to the reduction in the water level of the river. The 60-ft tall submerged temple dates back to the late 15th or early 16th century. Made of sandstone, it belongs to Lord Gopinath, an incarnation of Lord Vishnu.
• The temple was visible frequently 15 years ago but due to the release of water at Mundali barrage the temple was not visible after that. The temple along with a nearby village named Padmabati was submerged sometime in the middle of the 19th century when Mahanadi River changed its course after 1933 flood.