Daily GK Updates – 17th Jan, 2021

NATIONAL UPDATES:

 

1. No foreign leader as chief guest on Republic Day this year: According to External Affairs Ministry Spokesperson Anurag Srivastava, due to the global COVID-19 situation, it has been decided that this year there will not be a foreign Head of State or Head of Government as the Chief Guest for the Republic Day event. President Ramnath Kovind will take the salute at the parade this time. This will be the first time in over five decades that India will not have a chief guest at the Republic Day parade. This comes days after United Kingdom (UK) Prime Minister Boris Johnson cancelled his visit to India. Boris Jonhson was scheduled to be the chief guest at India’s Republic Day parade on January 26.

History of Republic Day event: In 2020, Brazil President Jair Bolsonaro was the chief guest. The last time such a situation arose was in 1966 when no Chief Guest was present at the event which was held days after the demise of Prime Minister Lal Bahadur Shastri in Tashkent and the death of nuclear scientist Homi Bhabha in an air crash. Foreign leaders have graced the Republic Day parades every year barring 1952, 1953 and 1966. Indonesian President Sukarno was the first chief guest to grace Republic Day in 1950.

 

2. Dushyant Dave resigns as SC Bar Association (SCBA) President: Supreme Court Bar Association (SCBA) president, Dushyant Dave has resigned from his post with immediate effect, he has forfeited his right to continue. Acting SCBA Secretary Rohit Panday confirmed the development that the senior advocate has resigned with immediate effect. About the Supreme Court bar Association:

(1) The SCBA is an Indian bar association, comprising the practising lawyers of the Supreme Court of India.

(2) The SCBA has been in the vanguard of the movement for upholding, maintaining and consolidation of the constitutional values of democracy, rule of law and independence of Judiciary. In its meeting dated 4th May 1951.

(3) The Committee in its resolution observed that no attempt should be made to abridge or limit the Fundamental Rights.

(4) The Committee further pointed out that the Constitution was in operation only for a short period of sixteen months and the Supreme Court had no occasion to pronounce on the validity of various State laws.

Note: Supreme Court Bar Association Headquarters: New Delhi, India.

 

3. Najma Heptulla Releases book titled Making of a General-A Himalayan Echo: Manipur Governor Dr Najma Heptulla released a book titled “Making of a General-A Himalayan Echo” virtually. The book has been authored by (Retd) Lt General Konsam Himalay Singh, in which he has conveyed his dreams and views as well as also highlighted about Manipur, the “Land of Emeralds”. “Making of a General’ is the memoir of Lt Gen (Dr) Himalay Singh who has traced his journey from a small village in Manipur to becoming the first person from North East India to hold the rank of a Three Star General of the Indian Army. Konark Publishers Pvt Ltd is the publisher of the book.

 

4. IFFI 2021 to celebrate the work of legendary filmmaker Satyajit Ray: The 51st International Film Festival of India (IFFI) will be celebrating the work of legendary filmmaker Satyajit Ray by screening five of his classics. As part of the tribute, the festival will showcase Ray’s acclaimed “Pather Panchali”, the first film of his The Apu Trilogy, 1964 romantic drama “Charulata”, “Sonar Kella”, his 1977 Hindi directorial debut “Shatranj Ke Khilari” and “Ghare Baire” (1984). 12 films for Festival Kaleidoscope & 50 films for World Panorama section were unveiled too.

 

INTERNATIONAL UPDATES:

 

1. Donald Trump becomes the first U.S. President to be impeached twice: President Donald Trump was impeached by the U.S. House for a historic second time on January 13, charged with “incitement of insurrection” over the deadly mob siege of the Capitol in a swift and stunning collapse of his final days in office. He was first impeached in 2019 over his Ukraine dealings. The House voted 232-197 to impeach Mr Trump. The proceedings moved at lightning speed, with lawmakers voting just one week after violent pro-Mr. Trump loyalists stormed the U.S. Capitol, urged on by the President’s calls for them to “fight like hell” against the election results.

 

OTHER UPDATES:

 

BANKING AND FINANCE

                        

1. FSS and IPPB join hands to promote financial inclusion: Financial Software and Systems (FSS), a leading payment processor and provider of integrated payment products, has partnered with India Post Payments Bank (IPPB) to promote financial inclusion among underserved and unbanked segments.

As part of the collaboration: IPPB will use FSS’ Aadhaar Enabled Payment System (AePS) to deliver interoperable and affordable doorstep banking services to customers across India. Customers of any bank can access their Aadhaar-linked bank account by simply using their fingerprint for cash withdrawal, balance enquiry and transfer of funds into an operating IPPB account, right at their doorstep. This strategic partnership offers significant opportunities to bring millions of unbanked customers into the financial mainstream. Currently, there are nearly 410 million Jan Dhan accounts in India.

About FSS’ Aadhaar Enabled Payment System (AePS): FSS’ AePS solution combines the low-cost structure of a branchless business model, digital distribution, and micro-targeting that lowers acquisition costs and improves reach. The operation of FSS’ AePS solution is based on agents performing transactions on behalf of customers using a tablet, micro-ATM or a POS device. The system is device agnostic and can accept transactions originating from any terminal.

Note: MD and CEO of India Post Payments Bank (IPPB): J Venkatramu; India Post Payments Bank (IPPB) Headquarters: New Delhi.

 

BUSINESS AND ECONOMY

 

1. Fitch Ratings Projects GDP of India at -9.4% in FY21: The Fitch Ratings expect the gross domestic product (GDP) of India to contract by 9.4 per cent in FY21 (April 2020 to March 2021). Fitch further projects the GDP to expand by 11 per cent in FY22 (April 2021 to March 2022).

Note: Fitch Ratings Headquarters: New York, United States; Fitch Ratings CEO: Paul Taylor; Fitch Ratings Founder: John Knowles Fitch; Fitch Ratings Founded: 1914.

 

2. Intel appoints Pat Gelsinger as new CEO: Intel has appointed Pat Gelsinger as its new Chief Executive Officer, effective Feb. 15, 2021. Gelsinger will also join the Intel board of directors upon assuming the role. He will succeed Bob Swan, who will remain CEO until Feb. 15.

About Pat Gelsinger: Gelsinger is an industry veteran with more than four decades of technology and leadership experience, including 30 years at Intel where he began his career. Pat is a proven technology leader with a distinguished track record of innovation, talent development, and deep knowledge of Intel. He will continue a values-based cultural leadership approach with a hyper-focus on operational execution.

Note: Intel Founded: 18 July 1968; Intel Headquarters: Santa Clara, California, United States; Intel Founders: Gordon Moore and Robert Noyce.

 

3. Tesla sets up India subsidiary in Bengaluru: Elon Musk-owned electric vehicle (EV) company Tesla has registered a fully-owned subsidiary in Bengaluru, Karnataka. Tesla, the world’s most valued carmaker has incorporated a fully owned subsidiary ahead as a first step to set up an R&D unit and a manufacturing plant for its electric vehicles in the country. Tesla’s global senior director David Jon Feinstein, chief accounting officer Vaibhav Taneja and Bengaluru-based entrepreneur Venkatrangam Sreeram are on the board of the India unit, Tesla India Motors and Energy Pvt Ltd. The office, situated on Lavelle Road in Bengaluru, is registered with a total paid-up capital of Rs 1,00,000 and authorised share capital of Rs 15 lakh.

Note: Tesla Founded: 1 July 2003; Tesla Headquarters: California, United States.

 

DEFENCE

 

1. Indian Army inks $20 mn contract to buy SWITCH drones: The Indian Army has recently signed a contract with Mumbai-based drone manufacturing company, ideaForge, to procure high-altitude variant of SWITCH unmanned aerial vehicles (UAVs). The total cost of the deal is approximately USD 20 million. However, the quantity of UAVs to be procured is not disclosed. These UAVs will be delivered to the Indian Army over a period of one year.

About SWITCH UAV: SWITCH UAV is an indigenous system built to cater for the most demanding surveillance operations of the Indian Forces. This Fixed-Wing VTOL (Vertical Take-off and Landing) UAV can be deployed at high altitude and harsh environments for day and night surveillance in Intelligence, Surveillance and Reconnaissance (ISR) missions. It is man-portable and has the highest time on target compared to any other UAV in its class.

Note: IdeaForge CEO: Ankit Mehta; IdeaForge HQ:  Mumbai, Maharashtra.

 

2. DRDO develops India’s first Indigenously-Developed 9mm Machine Pistol: India’s first indigenous 9mm Machine Pistol has been jointly developed by DRDO and Indian Army. Infantry School, Mhow and DRDO’s Armament Research & Development Establishment (ARDE), Pune have designed and developed this weapon using their respective expertise in the complementary areas. The weapon has been developed in a record time of four months. The weapon is aptly named “Asmi” meaning “Pride”, “Self-Respect” & “Hard Work”. About the Machine Pistol:

(1) The Machine Pistol fires the in-service 9mm ammunition and sports an upper receiver made from aircraft-grade Aluminium and lower receiver from carbon fibre.

(2) The 3D Printing process has been used in designing and prototyping of various parts including trigger components made by metal 3D printing.

(3) The weapon has huge potential in Armed forces as a personal weapon for heavy weapon detachments, commanders, tank and aircraft crews, drivers/dispatch riders, radio/radar operators, Closed Quarter Battle, counter-insurgency and counter-terrorism operations etc.

(4) This is also likely to find huge employability with the central and state police organizations as well as VIP protection duties and Policing.

(5) The Machine Pistol is likely to have a production cost under rupees 50000 each and has potential for exports.

Note: Secretary Department of Defence Research and Development & Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.