Current Affairs – October, 2019

Latest Current Affairs October, 2019 with Current Affairs, news summary on current events of National and International importance of October, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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GeM signs MoU with Union Bank of India

Government e-Marketplace (GeM) signed Memorandum of Understanding (MoU) with Union Bank of India (UBI). Through this partnership, UBI will be able to offer array of services including transfer of funds through GeM Pool Accounts (GPA), advising of Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the GeM portal. It will also facilitate cashless, paperless and transparent payment system on GeM portal and will create an efficient procurement system for government entities.

Background

Online integration for payments and various banking services is one of the priorities for GeM. So far, GeM has signed MoU with 14 Public Sector and private banks to enable this. It is also working with others banks, TReDs, and SIDBI to provide invoice financing and Bill Discounting to MSMEs registered on GeM. This will help MSMEs access easy credit and do better business with Government Departments.

About Government e-Marketplace (GeM)

It is an online marketplace launched by Union Government in 2018 to facilitate procurement of goods and services by various Ministries and agencies of the Government. It offers online, end to end solution for procurement of commonly used goods and services for all central government and state governments departments, public sector units (PSUs) and affiliated bodies. Its main aim is to enhance transparency, efficiency and speed in public procurement of goods and services and eliminate corruption. It provides tools for Direct Purchase, bidding and reverse auction in a transparent manner for government departments.

Nobel Peace Prize – 2019

The 100th Nobel Prize for peace has been awarded to the Ethiopian Prime Minister Abhiy Ahmed Ali for his efforts towards peace and international cooperation. The prize was awarded in particular to honor his initiatives to resolve border conflict with Eritrea.

Abhiy Ahmed Ali

Ali became the Prime Minister of Ethiopia in 2018. Since then he was keen in resuming peace talks with Eritrea. He quickly worked out principles of peace agreement with the president of Eritrea Isaias Afwerki and ended the long “no peace no war” stalemate.

Apart from this, he also initiated many reforms in Ethiopia. He spent his first 100 days of power in lifting the state of emergency in the country. He granted amnesty to 1000s of political prisoners, legalized outlawed opposition groups, discontinued media censorship, increased the influence of women in Ethiopian political and community life.

The Greta Factor

There had been great speculation over the prize with the climate activist Greta Thunberg being tipped as the favorite. The 16 year school girl is a Swedish teenager who became famous for her activism in August 2018. She initiated a mass movement “School strike for climate” where the teenagers quit school demanding for action towards climate change.

She had inspired a number of school children that it is now been addressed as the “The Greta Effect”

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