Daily GK Updates – 31st Jan, 2021

 

NATIONAL UPDATES:

 

1. India’s “Vaccine Maitri” Initiative begins: Vaccine Maitri Initiative is an initiative launched by India to gift COVID-19 vaccines to neighbouring countries. Recently, Sri Lanka and Bahrain have received the COVID-19 vaccines from India under the initiative. The Vaccine Maitri initiative was launched by India on January 20 to gift COVID-19 vaccines to neighbouring countries.

About the initiative: Sri Lanka has received 5 lakh Covid-19 vaccines from India as a part of the “Vaccine Maitri” initiative. Consignment of vaccines has also been sent to Bahrain. The country will receive 10,800 vaccines under the initiative. India has already delivered over 5 million doses to seven countries in the neighbourhood under the initiative before Sri Lanka and Bahrain. The 7 countries are- the Maldives (100,000 vaccines), Bhutan (150,000 vaccines), Nepal (1 million vaccines), Bangladesh (2 million vaccines), Myanmar (1.5 million vaccines), Mauritius (100,000 vaccines), and Seychelles (50,000 vaccines). Commercial supplies of Covishield have also been sent to Morocco, Brazil, (2 million doses each), and Bangladesh (5 million doses).

COVID-19 Vaccination in India: The COVID-19 vaccination programme started in India on January 16, 2021, with the two approved vaccines (Emergency-use) – Covishield and Covaxin. In phase 1, health workers are being vaccinated followed by people above the age of 50 years.

 

2. PM Modi Chairs 35th PRAGATI Meet: Prime Minister Narendra Modi has chaired the 35th PRAGATI meeting to review multiple projects, grievances and programmes. In the meeting, ten agenda items were taken for review worth Rs. 54,675 crore, related to 15 states. These included nine projects and one programme. Prime Minister also reviewed the Pradhan Mantri Bhartiya Jan Aushadhi Pariyojana.

About the meeting: PRAGATI stands for Pro-Active Governance and Timely Implementation. Of the total 9 projects, 3 projects were from the Ministry of Railways, 3 from Ministry of Road Transport and Highways and 1 project each from Department of Promotion of Industry and Internal Trade, Power Ministry and Ministry of External Affairs. The States are Odisha, Karnataka, Andhra Pradesh, Maharashtra, Chhattisgarh, Punjab, Jharkhand, Bihar, Telangana, Rajasthan, Gujarat, West Bengal, Haryana, Uttarakhand, and Uttar Pradesh.

 

INTERNATIONAL UPDATES:

 

1. Italian Prime Minister Giuseppe Conte resigns: Italian Prime Minister, Giuseppe Conte resigned after losing his Senate majority, plunging the country into political uncertainty just as it’s battling the pandemic and a recession. He tendered his resignation to President Sergio Mattarella, the ultimate arbiter of Italian political crises, who invited him to stay on in a caretaker capacity pending discussions on what happens next. Italy was the first European country to face the full force of the Covid-19 pandemic and has since suffered badly, with the economy plunged into recession and deaths still rising by around 400 a day. Parts of the country remain under partial lockdown, the vaccination programme has slowed and a deadline is looming to agree on plans to spend billions of euros in European Union recovery funds.

Note: President of Italy: Sergio Mattarella; Capital of Italy: Rome; Currency of Italy: Euro.

 

2. India Ranks 86 among 98 Countries in Lowy Institute’s Covid-19 Response Index: India has been ranked at 86th position among 98 countries in the new Coronavirus Performance Index released by Australia-based Lowy Institute. Countries were ranked based on the publicly available and comparable data on Covid-19 response. The Lowy Institute is an independent international policy think tank, located in Sydney. New Zealand, Vietnam and Taiwan are the top three countries respectively in the index. Brazil was ranked at the bottom of the list for worst handling of the pandemic than any other country. China was excluded from the list due to lack of publicly available data.

 

3. India Secures 86th Rank in Corruption Perception Index 2020: India has been ranked 86th among 180 countries in the Corruption Perception Index (CPI) 2020, released by Transparency International. This year, India’s rank has slipped six places compared to 2019, when it was ranked at 80th spot. The CPI score for India in 2020 is 40. India is sharing its position jointly with Burkina Faso, Morocco, East Timor, Trinidad and Tobago and Turkey.

Top Country: New Zealand and Denmark have jointly secured the first position with scores of 88.

Lowest Country: Somalia and South Sudan rank lowest at 179th position with scores of 12.

CPI Index: The CPI index ranks 180 countries and territories by their perceived levels of public sector corruption according to experts and business people. The index uses a scale of 0 to 100, where 0 is highly corrupt and 100 is very clean.

Note: Transparency International Headquarters location: Berlin, Germany; Transparency International Chairperson: Delia Ferreira Rubio; Transparency International Founded: 4 May 1993.

 

4. World Neglected Tropical Diseases Day: 30th January: The second World Neglected Tropical Diseases Day (World NTD Day) is being observed on January 30, 2021 to celebrate the achievements made towards control of the world’s NTDs. 2021 theme is Face NTDs: “End the Neglect”. The first World NTD Day was held on 30 January 2020. Neglected tropical diseases (NTDs) include a range of conditions that can blind, disfigure, or even disable people. Currently, the World Health Organization (WHO) identifies 20 major conditions as NTDs

 

5. World Leprosy Day: 31st January: World Leprosy Day is observed around the world on the last Sunday of January every year. This year World Leprosy Day held on 31 January. The day is celebrated to raise global awareness of this deadly ancient disease and call attention to the fact that it can be prevented, treated and cured. This year theme of World Leprosy Day 2021 is “Beat Leprosy, End Stigma and advocate for Mental Wellbeing.” The day was initiated in 1954 by French philanthropist and writer, Raoul Follereau, as a tribute to the life of the Mahatma Gandhi who had compassion for people afflicted with leprosy.

Note: Leprosy is a chronic infectious disease caused by a bacillus, Mycobacterium leprae (M. laprae). The symptoms of the disease occur generally after a long period of getting an infection on average 5 years, as M. leprae multiplies very slowly. The disease mainly affects the skin, the peripheral nerves, mucosa of the upper respiratory tract, and the eyes.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Bharti AXA General Insurance launches ‘Krishi Sakha’ App for farmers: Bharti AXA General Insurance has launched Krishi Sakha App, a one-stop-shop for Indian farmers that offers them relevant information to cater to their daily farming needs. It also provides guidance to farmers to adopt best farming practices and enhance their productivity. The farmers through this app will also have access to the Pradhan Mantri Fasal Bima Yojana (PMFBY) portal for crop insurance-related information.

About the Bharti AXA ‘Krishi Sakha’: Bharti AXA ‘Krishi Sakha’ aims at helping Indian farmers make informed decisions through customized information related to their farming requirements. It shares relevant information about the scientific way of farming, crop cultivation, sowing, or harvesting of major crops. It guides the farmers about weather forecasting, market and crop prices and government schemes related to insurance and agriculture.

Note: Bharti AXA General Insurance Established: 2008; Bharti AXA General Insurance Headquarters: Mumbai, Maharashtra; Bharti AXA General Insurance MD and CEO: Sanjeev Srinivasan; Bharti AXA General Insurance Tagline: Suraksha ka Naya Nazariya.

 

2. Swaminathan Janakiraman and Aswini Kumar Tewari appointed as MDs of SBI: The appointments committee (ACC) of the Cabinet has approved the appointment of Swaminathan Janakiraman and Ashwini Kumar Tewari as new Managing Directors (MDs) of State Bank of India (SBI) for a period of three years. Prior to this, Swaminathan Janakiraman was the deputy managing director (Finance) at SBI and Ashwini Kumar Tewari was serving as MD & CEO of SBI Card, a subsidiary of SBI. SBI is headed by a Chairman and four managing directors. Dinesh Kumar Khara is the current Chairman of the bank. The other two MDs of the bank are C.S. Setty and Ashwani Bhatia. The two posts were vacant since October 2020.

Note: State Bank of India Headquarters: Mumbai; Founded: 1 July 1955.

 

BUSINESS AND ECONOMY

 

1. Economic Survey 2021: Key highlights of Economic Survey: Finance Minister, Nirmala Sitharaman has presented Economic Survey 2020-21 in the Parliament on 29 January 2021. The major focus of this year’s economic survey is the losses and impact of the Covid-19 pandemic. The survey will provide an assessment of how the Indian economy has been impacted by the deadly COVID-19 virus and how it is improving. It will also project India’s gross domestic product growth for 2021-22. The Economic Survey document is prepared by the Economics Division of the Department of Economic Affairs (DEA) under the guidance of the Chief Economic Advisor Krishnamurthy Subramanian. The Economic Survey 2020-21 will be followed by the Union Budget 2020-21 which will be tabled on February 1. The theme of Economic Survey, 2020-21:

·         #SavingLives&Livelihoods

·         #VshapedRecovery

 

Here are the key highlights from the Economic Survey 2020-21: According to the survey, India’s economy could contract 7.7 per cent in the financial year that ends on March 31, pulled down mainly by the coronavirus pandemic and the weeks-long nationwide lockdown to contain the disease. Real GDP growth could be 11 per cent in the next financial year.

(1) India focused on saving lives and livelihoods by its willingness to take short-term pain for long-term gain, at the onset of the COVID-19 pandemic. Response stemmed from the humane principle that: Human lives lost cannot be brought back

(2) An early, intense lockdown provided a win-win strategy to save lives, and preserve livelihoods via economic recovery in the medium to long-term

(3) India was the only country to announce structural reforms to expand supply in the medium-long term and avoid long-term damage to productive capacities Calibrated demand-side policies to ensure that the accelerator is slowly pushed down only when the brakes on economic activities are being removed A public investment programme centred around the National Infrastructure Pipeline to accelerate the demand push and further the recovery

 

State of the Economy in 2020-21: A Macro View

(1) COVID-19 pandemic ensued global economic downturn, the most severe one since the Global Financial Crisis. The lockdowns and social distancing norms brought the already slowing global economy to a standstill.

(2) Global economic output estimated to fall by 3.5% in 2020 (IMF January 2021 estimates)

(3) India adopted a four-pillar strategy of containment, fiscal, financial, and long-term structural reforms.

(4) As per the advance estimates by NSO, India’s GDP is estimated to grow by (-) 7.7% in FY21 – a robust sequential growth of 23.9% in H2: FY21 over H1: FY2

(5) India’s real GDP to record an 11.0% growth in FY2021-22 and nominal GDP to grow by 15.4% – the highest since independence.

(6) The recovery in the second half of FY2020-21 is expected to be powered by government consumption, estimated to grow at 17% YoY.

(7) Exports expected to decline by 5.8% and imports by 11.3% in the second half of the FY21.

(8) India expected to have a Current Account Surplus of 2% of GDP in FY21, a historic high after 17 years.

 

2. Reliance Jio ranked 5th strongest brand globally: Billionaire Mukesh Ambani’s four-year-old telecom venture Reliance Jio has been ranked the fifth strongest brand globally behind the likes of Ferrari and Coca-Cola. As per the ranking, Reliance Jio has emerged as the 5th strongest brand in the world. Reliance Jio has made its entry to the world’s strongest brands. Reliance has been ranked as the 5th strongest brand in the world. It has a Brand Strength Index (BSI) score of 91.7 out of 100.

About the Brand Finance Global 2021: The Brand Finance’s Global 500 ranking of the strongest brands globally, which determined the relative strength of brands, is topped by WeChat, according to its annual report on most valuable and strongest global brands.

According to the Report: As per the Brand Finance Global 500 2021 ranking, Apple has been named as the most valuable brand in the world. The brand value of the company is US$263.4 billion. Amazon is the second most valuable brand followed by Google. TATA has retained its spot as the most valuable brand of India. It has been placed at the 77th position globally and has a brand value of US$21.3 billion. WeChat is the strongest brand in the world with a BSI score of 95.4. WeChat has surpassed Ferrari to rank as the strongest brand. Ferrari is the 2nd strongest brand in the world. Russian bank Sber and Coca-Cola are the 3rd and 4th strongest brands respectively.

 

AWARDS AND HONOURS

 

1. Ram Temple tableau of Uttar Pradesh on Republic Day wins 1st prize: The Ram Temple tableau of Uttar Pradesh that was on display during the Republic Day 2021 has bagged the first prize among all tableaux. The theme of Uttar Pradesh’s tableau was ‘Ayodhya: Cultural Heritage of Uttar Pradesh’. The cultural heritage of ancient holy town Ayodhya, a replica of a Ram temple, a glimpse of ‘Deepotsav’ and various stories from Ramayana epic were depicted in the tableau.

The Tripura tableau won the second prize for the Republic Day parade. Uttarakhand’s tableau on the theme ‘Dev Bhoomi — The Land of the Gods’ was adjudged third among the states and union territories. The tableau of Central Public Works Department (CPWD), with the theme ‘Amar Jawan’, bagged a special prize for paying tribute to the fallen heroes of the armed forces.

 

DEFENCE

 

1. Lt Gen Chandi Prasad Mohanty appointed as new Army Vice-Chief: Lieutenant General Chandi Prasad Mohanty has been appointed as the new Vice-chief of Army staff. He would assume the office on February 1, 2021, from Lt General SK Saini, who is superannuating on 31 January 2021. Lt General CP Mohanty is an alumnus of Rashtriya Indian Military College, Dehradun, and National Defence Academy. He is a June 1982 batch Infantry Officer from the Rajput Regiment.

About the Vice-Chief of Army Staff: Vice-Chief of Army Staff is the deputy head and the second-highest-ranking officer of the Indian Army. The position is held by the senior officer in the rank of Lt-General, of the Commander in Chief grade.

Note: 28th Chief of Army Staff: General Manoj Mukund Naravane; The motto of Indian Army: “Service Before Self”; Headquarters of Indian Army: New Delhi.

 

OBITUARIES

 

1. Oscar and Emmy Award winning actress Cloris Leachman passes away: Academy Award winning American actor Cloris Leachman, one of the most decorated actors in American television history, has passed away. She was 94. Leachman died in her sleep of natural causes. She won eight Emmy Awards in her storied television career. She also won an Academy Award, a British Academy Film Award, a Golden Globe Award for her film career.

Daily GK Updates – 30th Jan, 2021

NATIONAL UPDATES:

 

1. India pledges $150,000 for UN Peacebuilding Fund for 2021: India has announced a pledge of USD 150,000 to the United Nations Peacebuilding Fund (PBF) for the year 2021 to support the activities and programs this year. The Peacebuilding Fund has put forth its five-year strategy, which requires 1.5 billion dollars for 2020-2024. This was announced by TS Tirumurti, India’s permanent representative to the United Nations on January 25, 2021. UN Secretary-General António Guterres expressed that he was grateful to the countries that committed to providing over $439 million in support of the UN’s work toward peacebuilding & conflict prevention through the UN Peacebuilding Fund.

About the UN Peacekeeping: UN Peacekeeping aims to mainly help countries navigate through the difficult path from conflict to peace. The UN peacekeeping has unique strengths including legitimacy, burden sharing and an ability to deploy troops and police from around the world and integrate them with civilian peacekeepers to address a range of mandates set by the UN Security Council and General Assembly. The UN Peacebuilding fund aims to mobilize support for the UN’s key instrument to prevent conflict and build peace around the world, as well as strengthen an integrated and coherent response across the UN peace and security pillars.

 

2. Maharashtra launches ‘jail tourism’ initiative from Pune’s Yerawada jail: The Prison Department of Maharashtra has launched its jail tourism initiative starting with more than 150-year-old Yerawada Central Prison in Pune. The initiative was launched in a move to help students learn about historical experiences.

About the Yerawada jail: Yerawada jail is 150 years old where several freedom fighters, including Mahatma Gandhi, Lokmanya Tilak were imprisoned, Pune-pact was signed within the premises etc. The visitors will also get to see the faasi yard, the area where the death sentence is executed. This is the place where Chapekar brothers were executed in 1899 for the assassination of British Plague Commissioner of Pune WC Rand. The last execution that the faasi yard witnessed was in November 2012 of Ajmal Kasab, a convict of 26/11 attacks, who was buried inside the prison premises.

Note: Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.

 

3. Union Minister Nirmala Sitharaman opens NCLAT Chennai Bench: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has virtually inaugurated the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT). This will be the second NCLAT Bench in the country, after the Principal Bench in New Delhi.

About the National Company Law Appellate Tribunal: The NCLAT has jurisdiction over matters under the Companies Act, the Insolvency and Bankruptcy Code and the Competition Commission of India. Fresh appeals against the orders of the Benches of the tribunal having jurisdiction in Karnataka, Tamil Nadu, Kerala, Andhra Pradesh and Telangana and the Union Territories of Lakshadweep and Puducherry will have to be filed before the Chennai Bench. Justice Bansi Lal Bhat, acting Chairperson, NCLAT; Rajesh Verma, Secretary, Ministry of Corporate Affairs; and Justice Venugopal M, judicial member, and Balvinder Singh, technical member of the NCLAT Chennai Bench, were present.

 

4. Election Commission rolls out digital voter ID cards “e-EPIC”: The Election Commission has rolled out the electronic version of the voters’ photo identity card e-EPIC, which can be stored on mobile phones and downloaded on personal computers. The physical card takes time to print and reach the voter, and the idea is to provide faster delivery and easy accessibility to the document.

About the e-EPIC: The e-EPIC is a secure portable document format (PDF) version of the EPIC which can be downloaded on mobile or in a self-printable form on the computer. The voter can store the card on his/her mobile, upload it as a PDF on Digi locker or print it & self-laminate. The e-elector photo identity card is a non-editable digital version of the elector photo identity card and can be saved in facilities such as digital locker as well as can be printed in the PDF format.

Note: Chief Election Commissioner of India: Sunil Arora; Chief Election Commissioner Formed: 25 January 1950; Chief Election Commissioner Headquarters: New Delhi.

 

5. 73rd Martyrs’ Day observed on 30 January: Martyr’s Day or Shaheed Diwas is observed every year on January 30 in the memory of Mahatma Gandhi, who was assassinated at Gandhi Smriti in the Birla House by Nathuram Godse in 1948. The day is observed to remember the sacrifices made by freedom fighters in the struggle for India’s independence and to pay our respects to them. Notably, Martyrs’ Day is also observed in India on March 23 to pay respect to Bhagat Singh, Shivaram Rajguru and Sukhdev Thapar, who was hanged death on this day in 1931.

About Mahatma Gandhi: Mohandas Karamchand Gandhi, popularly known as Mahatma Gandhi or Bapu. Mahatma Gandhi, regarded as Father of the Nation, was the torch-bearer of India’s struggle for freedom and was revered by everyone for his non-violent approach against the British Raj. Despite his peaceful methods, Bapu was shot at Birla House compound in New Delhi at the age of 78. He was assassinated by Nathuram Godse, who opposed Gandhi’s views on the partition of India.

 

INTERNATIONAL UPDATES:

 

1. Kaja Kallas to become Estonia’s first female prime minister: Kaja Kallas, the leader of the Reform Party will become Estonia’s first female prime minister. The Reform Party, led by Kallas, won the 2019 parliamentary election in Estonia with 34 MPs in the country’s 101-seat parliament, Riigikogu. Estonia would thus currently become the only country in the world where both the president Kersti Kaljulaid and the prime minister are women.

Note: Estonia Capital: Tallinn; Estonia Currency: Euro.

 

2. India Inks Strategic Partnership Agreement with IEA: India has inked a strategic partnership agreement with the International Energy Agency (IEA), the world’s premier energy monitor, on 27 January 2021. The objective of the MoU is to strengthen cooperation in global energy security, stability and sustainability as well as strengthen mutual trust and cooperation between IEA members and the Government of India. The Memorandum of Understanding (MoU) was signed between Power Secretary Sanjiv Nandan Sahai and IEA Executive Director Fatih Birol. This deal will help India to gain full membership of IEA.

Note: International Energy Agency headquarters: Paris, France; International Energy Agency Member Countries: 30; International Energy Agency Establishment: November 1974.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. HSBC inaugurates international banking unit in Gujarat: Global financial services major HSBC has inaugurated it’s International Banking Unit (IBU) branch at GIFT City near Gandhinagar city in Gujarat. HSBC is one of the earliest global financial institutions setting up a branch at India’s GIFT City and was the first bank to get a licence from the newly set up International Financial Services Centres Authority (IFSCA). HSBC’s IBU branch at Gujarat International Finance Tec-City (GIFT City) will be operational for customer transactions with effect from January 27.

About the HSBC: HSBC has been present in the country for more than 160 years and its fourth branch globally was opened in India. HSBC operates in all of the leading international financial service hubs in the world and looks forward to the development of GIFT City as a globally competitive international financial centre.

Note: HSBC Bank India CEO: Surendra Rosha; HSBC Bank India HQ: Mumbai, Maharashtra.

 

2. Dhanlaxmi Bank Board approves appointment of J K Shivan as MD and CEO: Board of Directors of Kerala-based Dhanlaxmi Bank have given the approval to appoint J K Shivan as managing director and CEO of the Bank. It may be recalled that the shareholders of the Kerala-based had voted against MD & CEO Sunil Gurbaxani On September 30, 2020. Then, in December that year, the lender appointed Shivan as the new MD & CEO. However, the banking regulator, Reserve Bank of India (RBI), had asked the Dhanlaxmi Bank Board to get shareholders’ approval before appointing J K Shivan as the next chief of the bank.

Note: Dhanlaxmi Bank Headquarters: Thrissur, Kerala; Dhanlaxmi Bank Founded: 1927.

 

BUSINESS AND ECONOMY

 

1. TCS ranks third most valued IT services brand globally: Tata Consultancy Services (TCS) has been ranked third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Third-ranked TCS is rapidly closing the gap with IBM following a healthy 11% brand value increase to USD 15 billion.  Accenture retained the title of world’s most valuable and strongest IT services brand with record brand value of USD 26 billion, while IBM continued at the second place with a brand value of USD 16.1 billion.

Four Indian IT services companies have secured spots in the top-10 globally, namely, TCS (3), Infosys (4), HCL (7) and Wipro (9). Accenture has retained the title of world’s most valuable and strongest IT services brand with a brand value of $26 billion.

Note: Tata Consultancy Services CEO: Rajesh Gopinathan; Tata Consultancy Services Founded: 1 April 1968; Tata Consultancy Services Headquarters: Mumbai, Maharashtra.

 

AWARDS AND HONOURS

 

1. Meghalaya wins National Award for Best Electoral Practices 2020: The Office of the Chief Electoral Officer, Meghalaya was selected for a Special Award for Information Technology applications in Elections by the Election Commission of India (ECI), in the National Best Electoral Practices Awards-2020. President Ram Nath Kovind virtually conferred the award to Meghalaya CEO F.R. Kharkongor at the National Voters’ Day Award function held in New Delhi.

About the award: The award recognises the sustained and consistent IT application efforts in electoral activities being made by the Office of the CEO in the entire Enrolment to Elections (E2E) process and for leveraging technology for the benefit of all categories of voters, both general and persons with disabilities (PWDs). The ECI has consistently been championing the use of technology covering the non-election period, such as voter portal, voter helpline app, SMS, 1950 helpline, political party registration and online tracking.

Note: Meghalaya Capital: Shillong; Meghalaya Governor: Satya Pal Malik; Meghalaya Chief minister: Conrad Sangma.

Daily GK Updates – 29th Jan, 2021

 

NATIONAL UPDATES:

 

1. PM Modi Releases Rs 2,691 Crore for 6.1 Lakh PMAY-G Beneficiaries in Uttar Pradesh: Prime Minister Narendra Modi released financial assistance of Rs 2,691 crore to 6.1 lakh beneficiaries in Uttar Pradesh under the Pradhan Mantri Awas Yojana via video conference. The assistance includes release of first installment to 5.30 lakh beneficiaries and second installment to 80,000 beneficiaries who have already availed of the first installment of assistance under the Pradhan Mantri Awas Yojana Gramin (PMAY-G). So far 1.26 crore houses have already been built across the country under the scheme.

 

2. Finance Ministry Allocates Rs 660 Crore Additional Funds to MP for Citizen-centric Reforms: Madhya Pradesh has become the first state to get additional funds for capital projects for successfully carrying out reforms in various citizen-centric areas.The finance ministry said it has allocated an additional Rs 660 crore to Madhya Pradesh for capital expenditure to undertake citizen-centric reforms. The ministry has allocated this additional funds to the state for capital expenditure for undertaking the ‘One Nation, One Ration Card’ reforms, Ease of Doing Business reforms, and urban local bodies reforms. The state has also completed part of the fourth reform the power sector reforms.

 

3. MP signs MoUs with Kerala to replicate responsible tourism: Madhya Pradesh signed a memorandum of understanding (MoU) with Kerala for replicating the latter’s pioneering Responsible Tourism (RT) initiative. The States signed a joint declaration under which Kerala will extend a series of services under a 16-point programme. With the help of RT Mission of Kerala, the rustic beauty, life and heritage of Madhya Pradesh could be highlighted on the world tourism map.

 

4. Justice Gita Mittal appointed new chairperson of BCCC: Broadcasters industry body Indian Broadcasting Foundation has appointed former Chief Justice of Jammu & Kashmir High Court Justice Gita Mittal as the new Chairperson of Broadcasting Content Complaints Council (BCCC). Mittal succeeds former Supreme Court Judge, Justice Vikramajit Sen, whose tenure as BCCC Chairperson has ended. She served as the first woman Chief Justice of Jammu & Kashmir High Court and is also the first woman Chairperson of BCCC.

 

5. Kolkata Gets First of its Kind Boat Library, to Host Sessions on Book Launches, Music and More: The West Bengal Transport Corporation in collaboration with a heritage book store here has launched a children’s library on a boat, the first of its kind initiative. The idea behind the boat library is that one can read books while appreciating the beauty of Kolkata, cruising on the Hooghly River. Children will be able to choose from a selection of 500 titles in English and Bengali on the Young Readers’ Boat Library. The trip will start at Millenium Park, and the boat will travel to Belur Math jetty and return, he said. There will be three trips on all weekdays. The boat has a free wifi facility as well. A ride on the boat would cost Rs 100 for adults and Rs 50 for children.

 

INTERNATIONAL UPDATES:

 

1. Ageing dams in India, US, other nations pose growing threat: UN report: Over a thousand large dams in India will be roughly 50-years-old in 2025 and such aging structures across the world pose a growing threat, according to a United Nations (UN) report which notes that by 2050, most people on Earth will live downstream of tens of thousands of dams built in the 20th century. The report, titled ‘Ageing water infrastructure: An emerging global risk’ and compiled by United Nations University’s Canadian-based Institute for Water, Environment and Health, says most of the 58,700 large dams worldwide were constructed between 1930 and 1970 with a design life of 50 to 100 years. The analysis includes dam decommissioning or ageing case studies from the U.S., France, Canada, India, Japan, and Zambia and Zimbabwe. The report said that 32,716 large dams (55% of the world’s total) are found in just four Asian countries: China, India, Japan, and South Korea – a majority of which will reach the 50-year threshold relatively soon.

 

2. Jayant Khobragade appointed India’s next Ambassador to ASEAN Secretariat: Jayant N Khobragade has been appointed as the next Ambassador of India to the Association of Southeast Asian Nations (ASEAN) Secretariat in Jakarta, according to the Ministry of External Affairs (MEA).  Khobragade, an IFS 1995 batch officers, is currently serving as a joint secretary in the external affairs ministry. He is expected to take up his assignment shortly.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Overseas investment by Indian companies dips 42% to $1.45 bn in Dec: RBI: Overseas investment by domestic companies fell by over 42 per cent to $1.45 billion in December 2020, according to data from the Reserve Bank of India (RBI). In the year-ago period, companies in India had invested $2.51 billion in their foreign firms (joint ventures or wholly-owned units). In November 2020, the total outward foreign direct investment (OFDI) was of $1.06 billion — which was down by 27 per cent from a month-ago period. Of the total FDI investment by the Indian companies during the month under review, $775.41 million was in the form of equity infusion and $382.91 million was in the form of loan.

 

BUSINESS AND ECONOMY

 

1. States Fiscal Deficit Seen Spiking to Historic High of 4.7%, Says Crisil Report: The combined fiscal deficit of the states will hit a peak of Rs 8.7 lakh crore or 4.7 per cent of their GDP this fiscal on the back of steep fall in tax collections due to disruptions inflicted by the pandemic, according to a report. Revenue of the states have so badly fallen that as much as 70 per cent of the fiscal deficit is contributed by revenue deficit, which normally used to be only around 15 per cent. Tax collections may slowly recover with improving economic outlook. However, higher interest burden because of high debt funding of this year’s GFD, coupled with sticky revenue expenditures, may keep revenue deficits high for States and GFD composition skewed over the next 2-3 years.

 

2. Flipkart-Aditya Birla Fashion deal gets approval from CCI: The Competition Commission of India (CCI) has approved the ₹1,500-crore Flipkart-Aditya Birla Fashion deal, which was announced in October last year. Aditya Birla Fashion’s board had approved plans to raise Rs 1,500 crore by issuing a 7.8 per cent stake on a preferential basis to Walmart-owned Flipkart Group. After the dilution of the 7.8 per cent stake, the promoter and promoter group companies of ABFRL will hold around 55.13 per cent stake.

 

3. NSE remains world’s largest derivatives exchange for 2nd consecutive year: The National Stock Exchange of India Ltd (NSE) remained the world’s largest derivatives exchange for the second consecutive year in 2020 in terms of number of contracts traded, according to the Futures Industry Association (FIA). In addition, the bourse has been ranked fourth in the world in cash equities by number of trades by the World Federation of Exchanges (WFE) for calendar year 2020. The number of new investor registrations witnessed substantial growth in 2020, with 70 lakh new registrations, the highest in a calendar year and 2.3 times the number of registrations in 2019.

 

AWARDS AND HONOURS

 

1. Maha Vir Chakra awarded to Galwan valley hero Col Santosh Babu posthumously: President has approved awards of 455 Gallantry and other Defence decorations to Armed Forces personnel and others. These include one Mahavir Chakra, 5 Kirti Chakras, 5 Vir Chakras, 7 Shaurya Chakras, 4 Bar to Sena Medal (Gallantry), 130 Sena Medal (Gallantry), one Nao Sena Medal (Gallantry), 4 Vayu Sena Medal (Gallantry), 30 Param Vishisht Seva Medal, 4 Uttam Yudh Seva Medal, 51 Ati Vishisht Seva Medal, 11 Yudh Seva Medal, 3 Bar to Sena Medal (Devotion to Duty), 43 Sena Medal (Devotion to Duty) including 2 COVID Warriors, 8 Nao Sena Medal (Devotion to Duty), 14 Vayu Sena Medal (Devotion to Duty), 3 Bar to Vishisht Seva Medal (VSM) including one COVID Warrior and 131 Vishisht Seva Medal including 12 COVID Warriors.

(1) Colonel B Santosh Babu, the Commanding Officer of 16 Bihar Regiment, who lost his life during the Galwan Valley clash last year, will be posthumously awarded with Maha Vir Chakra.

(2) Subedar Sanjiv Kumar of 4th Battalion Parachute Regiment, CRPF Inspector Pintu Kumar Singh, CRPF Head Constable Shyam Narayan Singh Yadav, CRPF Constable Vinod Kumar will be posthumously awarded with Kirti Chakra. Deputy Commandant CRPF Rahul Mathur will be awarded Kirti Chakra.

(3) Naib Subedar Nuduram Soren of 16 Bihar Regiment, Havildar K Palani of 81 Field Regiment, Naik Deepak Singh of Army Medical Corps 16 Bihar Regiment and Sepoy Gurtej Singh of 3rd Battalion Punjab Regiment will be awarded Vir Chakra posthumously. Havildar Tejinder Singh of 3 Medium Regiment will be awarded Vir Chakra.

(4) Major Anuj Sood of 21st Battalion Rashtriya Rifles, Jammu and Kashmir police inspector Arshad Khan, J&K police Selection Grade Constable GH Mustafa Barah, J&K police Constable Naseer Ahmed Kolie and J&K Special Police Officer Bilal Ahmed Magray will be posthumously awarded with Shaurya Chakra.Rifleman Pranab Jyoti Das of 6th Battalion Assam Rifles and Paratrooper Sonam Tshering Tamang will be awarded Shaurya Chakra.

 

2. Philanthropist Ravi Gaikwad conferred Humanitarian Activist Influencer Award: Influencers Awards 2021 presented Ravi Gaikwad with the Humanitarian Activist Influencer Award for his philanthropic work and humanitarian service which he consistently keeps on undertaking for the betterment of society. For his dedication to the service of humanity, Ravi Gaikwad is grabbing the limelight for winning numerous coveted awards like the Nelson Mandela World Humanitarian Award and the Dadasaheb Phalke Award (2020) for his social service and philanthropic work conferred to him by the Legend Dada Saheb Phalke Award Forum.

 

3. Bilkis dadi and Harsh Mander conferred with Quaide Milleth Award: Bilkis Bano, Bilkis Dadi, the octogenarian woman who emerged as the face of Shaheen Bagh protest movement, and prominent civil rights activist Harsh Mander have been conferred with Quaide Millleth award for year 2020. Bano and Mander were presented the award at an event held at India Islamic Cultural Centre in New Delhi. The duo was given a cheque of Rs 2.5 lakh each as award money, a shawl and a memento presented by Navaid Hamid, president of All India Majlis Mushawrat.

 

OBITUARIES

 

1. Former India and Mohun Bagan goalkeeper Prasanta Dora passes away: Former Indian National Football team goalkeeper, Prasanta Dora has passed away. He was represented Tollygunge Agragami, Calcutta Port Trust, Mohammedan Sporting, Mohun Bagan and East Bengal in domestic football. He has also adjudged the Best Goalkeeper when Bengal lifted back-to-back Santosh Trophy titles in 1997-98 and 99. At the national level, Dora made five appearances in competitions such as SAFF Cup and SAF Games.

Daily GK Updates – 28th Jan, 2021

NATIONAL UPDATES:

 

1. Madhya Pradesh becomes first State to give power subsidy to farmers through DBT: Madhya Pradesh has become the first State to give electricity subsidy through Direct Benefit Transfer. With this, it has fulfilled a power reform condition as proposed by the Centre and thus eligible for additional borrowing. The scheme has been implemented in Vidisha district of the State, where electricity is bring supplied through the MP Madhya Kshetra Vidyut Vitaran Co Ltd with effect from December 2020. Under the scheme, an amount of ₹32.07 crore was transferred to the bank accounts of 60,081 beneficiaries in December. At the same time, the State has also initiated a process to implement the DBT scheme in Jhabua and Seoni districts as well.

 

2. Gujarat CM Vijay Rupani announces ‘Horticulture Development Mission’: In Gujarat, Chief Minister Vijay Rupani announced the ‘Horticulture Development Mission’ (Bagayat Vikas Mission). The aim of this mission is to double the income of farmers involved in medicinal and horticulture farming. Under this mission, the waste land of the government will be given on 30-year lease for farming of horticulture and medicinal crops. As per an estimate, the government has about 50,000 non-cultivated land waste lands. The government intends to convert this land into cultivation. A list of land blocks for land allotment in transparent manner will be released on I-Khedut portal. Lease amount applicable will be Rs 100 to Rs 500 per year per acre during 6th to 30th year. Lease holders will be able to set up solar panel, windmills to generate energy for their own use, but will not be allowed to sell it.

 

3. 3-day Ports Review Meeting named ‘Chintan Baithak’ held in Gujarat: Shri Mansukh Mandaviya, Minister of Ports,Shipping and Waterways (I/C) chaired three-day Ports Review Meeting named ‘Chintan Baithak’ at Dhordo, Kutch, Gujarat. The Chairpersons of all Major Ports of India and Senior Officials of the ministry participated in the extensive brainstorming conference to finalise the roadmap of Maritime Vision-2030. The Chintan Baithak includes sessions on exploring new vistas of urban transportation, effective implementation of SAROD-Ports, issues related to International Arbitrations etc.

 

4. Meghalaya CM Conrad Sangma inaugurates India’s longest road arch bridge at Sohbar: Meghalaya chief minister Conrad K Sangma inaugurated India’s longest road arch bridge, the Wahrew Bridge at Sohbar in East Khasi Hills district. The bridge has been constructed at a cost of Rs 49.395 crore under Non Lapsable Central Pool of Resources (NLCPR) of the DoNER ministry. The bridge connects Bholaganj and Sohbar to Nongjri in East Khasi Hills, bordering Bangladesh.

 

5. WIPRO group to act as knowledge partner of Madhya Pradesh govt: In Madhya Pradesh, WIPRO group is all set to act as knowledge partner of the State Government. Chief Minister Shivraj Singh Chouhan, informed that the company has taken initiative for establishment of a university in the State. For this purpose, the State Government will extend all possible support to the Foundation. The Wipro Group will also set up a Software Development Centre in Bhopal. The Chief Minister said, such centres will go a long way in providing more opportunities to the youth in the Information Technology sector.

 

6. Power Grid Corporation signs agreement with Himachal Electricity Board for telecom network: State-owned Power Grid Corporation has signed an agreement with Himachal Pradesh State Electricity Board Ltd. (HPSEBL) in Shimla (H.P.) to improve telecom connectivity in hilly areas. The deal comprises the utilization of 500 Kms of OPGW Telecom network. This is in addition to the existing 350 Kms of OPGW laid on HPSEBL Extra High Voltage (EHV) lines already being used in the state to boost its connectivity. This total 850 Kms long telecom network will enable POWERGRID Telecom to reach remote areas of Kangra, Una, Mandi, Kullu, Bilaspur, Sirmour, Palampur, Sundernagar, Banikhet, Amb, Paonta Sahib, Nahan etc.

 

INTERNATIONAL UPDATES:

 

1. India comes fourth in the Global Firepower defense review: For 2021, India is ranked 4 of 138 out of the countries considered for the annual GFP review. With 904 attack helicopters and 11 aircraft carriers, the US ranks at the top of the list. Russia is ranked 2nd and China ranked 3rd. The finalized Global Firepower ranking utilizes over 50 individual factors to determine a given nation’s PowerIndex score with categories ranging from military might and financials to logistical capability and geography.

 

2. SpaceX breaks ISRO’s Record by launching 143 Satellites: SpaceX successfully launched its ambitious rideshare mission called Transporter-1, carrying 143 small satellites, and created a new record of launching many satellites from a single rocket. With this launch, SpaceX broke the record set by ISRO in February 2017 for deploying 104 satellites onboard PSLV in a single mission. The SpaceX used two-stage Falcon 9 rocket for the mission, from the Space Launch Complex 40 at Cape Canaveral Space Force Station in Florida. The 143 satellites included 133 commercial and government satellites and 10 Starlink satellites of SpaceX.

Note: SpaceX founder & CEO: Elon Musk; SpaceX president & COO: Gwynne Shotwell; SpaceX Founded: 2002; SpaceX Headquarters: California, United States of America.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. YES BANK partners with Aditya Birla wellness themed credit card: Private sector lender YES Bank has teamed up with Aditya Birla Wellness Private Limited to launch ‘YES BANK Wellness’ and ‘YES BANK Wellness Plus’ credit cards, which aimed at the holistic health, self-care and wellness of consumers. With Wellness Card, YES Bank customers can avail complimentary health checkups or lifestyle benefits or consultations with doctors. This card has been designed keeping the holistic wellness needs of consumers. This credit card comes with first year membership fee of Rs 1,999 plus taxes and renewal fee of Rs 1,999 and taxes.

 

2. YES BANK launches YES MSME initiative to enable access to funding: YES Bank has launched the YES MSME initiative aimed at providing speedy and easy access to funds to the micro, small and medium enterprises (MSMEs) sector of India. The YES Bank launched this programme during the SME Carnival across the private lender’s MSME focused branches across India. The disbursal of funds will be facilitated to address both business and individual requirements of MSMEs, encourage new age entrepreneurs and maximising their potential.

 

3. Mastercard launches resource site to support digital transformation of SMEs in Asia Pacific: To assist small and medium enterprises (SMEs) get well from the pandemic and put together for the long run, Mastercard has launched the Digital Acceleration for Small Businesses microsite throughout most of its Asia Pacific web sites with data and assets on digitalize and run companies extra effectively. The one-stop centre features guides on digital transformation, e-learning courses, information about Mastercard products and services for SMEs, cybersecurity insights and tools to reduce vulnerabilities and access discounts on business software solutions, e-commerce platforms and digital marketing services. The Digital Acceleration for Small Businesses centre is available across Mastercard’s English-language websites for Singapore, Malaysia, the Philippines, Thailand, Hong Kong, India and Southeast Asia. It will be rolled out selectively on non-English sites in the future.

 

4. IIFL Home Finance ties up with Standard Chartered Bank for co-lending: Fairfax-backed IIFL Finance said its home loan subsidiary IIFL Home Finance and Standard Chartered Bank entered into a co-lending arrangement for extending credit to MSME loans (loan against property). This is one of the first co-lending arrangements in the industry after Reserve Bank India’s co-lending guidelines were issued. Under this partnership, IIFL Home Finance Ltd and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance Ltd will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.

 

BUSINESS AND ECONOMY

 

1. Govt to set up faceless digital mechanism to levy income tax penalties: After implementing faceless assessment and faceless appeal systems on income tax matters, the government has decided to set up a National Faceless Penalty Centre to have an unbiased and transparent digital faceless mechanism for imposing penalties on tax defaulters. The government notified the faceless penalty scheme, which will have a National Faceless Penalty Centre at the apex level. It will be assisted by regional centres, local penalty units and penalty review units, two officials with direct knowledge of the matter said requesting anonymity.

 

2. Future Group-Reliance Industries Deal Gets SEBI Approval: The Securities and Exchange Board of India (Sebi) has given its approval for the takeover deal between Kishore Biyani’s Future Group and Reliance Retail, part of Reliance Industries Limited (RIL). Future had entered into a Rs 24,713 crore agreement with Reliance Retail in August 2020. As part of the deal, the Future group was to sell its retail, wholesale, logistics and warehouse businesses to Reliance Retail.

 

AWARDS AND HONOURS

 

1. 51st International Film Festival of India Concludes: The 51st edition of International Film Festival of India (IFFI) was held from 16 January to 24 January 2021 at Shyamaprasad Stadium near Panaji in Goa. Due to the COVID-19 pandemic, the festival was held in hybrid mode, there was the physical and virtual screening of 50 films out of 224 films across various categories. Bangladesh was a country of focus at the festival. Four films of Bangladesh was included in ‘country of focus’ section. The winners of the IFFI awards are listed below:

Golden Peacock Award for Best Film: Into the Darkness

Silver Peacock Award for Best Actor (Male): Tzu-Chuan Liu, The Silent Forest

Silver Peacock Award for Best Actor (Female):  Zofia Stafiej, I Never Cry

Silver Peacock Award for Best Director: Chen-Nien Ko, The Silent Forest

Best Debut Director Award: Cássio Pereira dos Santos, Valentina

Special Mention Award: Kripal Kalita, Bridge

Special Jury Award: Kamin Kalev, February

ICFT UNESCO Gandhi Award: Ameen Nayfeh’s 200 Meters

Indian Personality of the Year Award: Biswajit Chatterjee

Lifetime Achievement: Vittorio Storaro (Italian cinematographer).

 

2. Rajendra Kumar Bhandari wins Subhash Bose Aapda Prabandhan Puraskar 2021: The Subhash Chandra Bose Aapda Prabandhan Puraskar 2021 has been conferred upon Dr Rajendra Kumar Bhandari in the Individual category and Sustainable Environment and Ecological Development Society (SEEDS) in Institutional category. The award carries a cash prize of Rs 51 lakh and a certificate for an institution and Rs 5 lakh and a certificate in case of an individual.

About the award: The Government of India announces the award every year on January 23, the birth anniversary of Netaji Subhash Chandra Bose, to recognise and honour the invaluable contribution and selfless service rendered by individuals and organisations in India in the field of disaster management.

 

OBITUARIES

 

1. Eminent Odiya Actor Rabi Mishra passes away: Veteran Odia actor Rabi Mishra passed away at a private hospital in the Capital City following a cardiac arrest. He was 64. Mishra, who performed in many popular movies, television serials and over hundred plays, was the main character in the popular television serial-‘Gopala Rahasya’. He became a household name because of the lively character of Gopala Bhanda he played in the series. The eminent actor ruled the Ollywood and television industries for over two decades. He is known for his performance in super hit movies such as ‘Bhai Hela Bhagari’, ‘Sakala Tirtha’, ‘Soubhagyabati’, ‘Maa Pari Kie Haba’, “Rakhi Bhijigala Aakhi Luhare’, ‘Mana Rahiagal Tumari Thare’, ‘Mukhyamantri’ and many others.