Current Affairs – February, 2020

This section is a feed of Current Affairs February, 2020 comprising all Current Affairs National and International importance published in february, 2020 Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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India-Central Asia Business Council launched in New Delhi

The Ministry of External Affairs along with FICCI (Federation of Indian Chambers of Commerce and Industry) recently launched the India-Central Asia Business Council. They were joined by 5 countries namely Tajikistan, Uzbekistan, Turkmenistan, Kazakhstan and Kyrgyz Republic. The Council will act as a common platform for the businesses of Central Asia and India.

Highlights

According to the External Ministry trade between the countries stand at 2 billion USD. The Council discussed on making the Chabahar port commercially attractive. The Council will also aim at promoting trade and investment between India and the four countries. They will focus on oil and gas, renewable and non-renewable energy, life sciences, pharmaceutical, agro-food processing, IT, urban infrastructure, tourism and transport.

Background

The Council is the outcome of India and Central Asia Dialogue that was held in Samarkand, Uzbekistan in 2019. The Dialogue and the Council formed are part of India’s Central Asia Policy. Under Central Asia Policy India aims to build strong political relations and will aim to strengthen security cooperation.

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RBI to release Digital Payment Index by July 2020

The Reserve Bank of India announced that it will create a Digital Payment Index by July 2020. The main aim of the index creation is to capture the extent of digitization of monetary payments in the country

Highlights

With the launch of Digital India and the GoI’s push towards Digital Economy, the digital payments in the country has been growing fast. In order to monitor the digital payments, the Central Bank is to release Digital Payment Index. The index will reflect the penetration of digital payments in the country.

RBI has planned to introduce classification in the index. The classification will include rural, urban and semi-urban geographies.

Significance

The Index will help to study the impact of policy interventions that are being taken by the GoI.

Factors influencing digital growth in India

The five factors that are influencing digital growth in India includes low data tariffs, rise in videos, widespread use of OTT (Over-the-top) platforms. Today India ranks the highest in video making platform.

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