Daily GK Updates – 16th Feb, 2021

 

NATIONAL UPDATES:

 

1. Rajnath Singh inaugurates ‘Jalabhishekam’ campaign in Madhya Pradesh: The state government of Madhya Pradesh has launched a water conservation campaign called ‘Jalabhishekam’, under which more than 57,000 water structures has been constructed. The campaign was inaugurated by the Union Defence Minister Rajnath Singh virtually.

About the Campaign: Water conservation work is being undertaken with public participation and will be helpful in achieving the goal of building self-reliant Madhya Pradesh. The Campaign will also fulfil the intention of ‘water for every farm and work for every hand’. The water structures were created during COVID era by linking the work with the MNREGA scheme. These water structures cost over Rs. 2,000 crore and will irrigate 2.50 lakh hectares of land without submerging an inch of land.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Anandiben Patel.

 

2. Odisha to Construct ‘COVID Warrior Memorial’ in Bhubaneswar: In order to recognize the sacrifice and services rendered by the Covid warriors who lost their lives fighting the pandemic, the government has decided to construct a Covid Warrior Memorial in Odisha. The BijuPatnaik Park in Bhubaneswar has been selected for this purpose. Odisha Health and Family Welfare Department to the Works Department it was also said that the Works Department has been declared as the Nodal Department for construction of the Covid Warrior Memorial. They will engage an architect to finalise the design and structure of the said memorial and take approval from the competent authority.

Note: Chief Minister of Odisha: Naveen Patnaik; Odisha Capital: Bhubaneswar; Odisha Governor: GaneshiLal.

 

3. ISRO opens satellite testing centre for private sector: Indian Space Research Organisation (ISRO) has opened its UR Rao Satellite Centre for testing satellites developed by the private sector for the first time in its history. Two satellites, developed by the Indian startups SpaceKidz India and Pixxel (incorporated as Sygyzy) were tested at the UR Rao Satellite Centre.

ISRO also helped these two companies in fixing problems with the solar panels on their respective satellites. So far in its history, the space agency has only taken help in manufacturing and fabrication of various parts of satellites and rockets from the Indian industry. Both these two companies will also test their engines at the Sriharikota spaceport and Thiruvananthapuram rocket centre in coming days.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

 

4. Expert committee to review proposal to ban 27 pesticides: The government has appointed an expert panel to review industry’s objections to the proposed ban on 27 widely used pesticides which officials say are harmful to animals and humans. The committee, led by chairman TP Rajendran, former assistant director general of ICAR, is likely to submit its report in three months. His report will decide the fate of those 27 pesticides which the government wants to ban. These are part of the 66 contentious pesticides which are being reviewed for their toxicity. In 2018, the government had already banned 18 of them.

 

5. Actor Priyanka Chopra Jonas’ memoir named ‘Unfinished’: Actor-producer Priyanka Chopra Jonas officially turned author with the release of her first book, “Unfinished: A Memoir”, which she described as “honest, raw and vulnerable”. The end result is a book, published by the Michael Joseph imprint, which covers her dual-continent 20-year-long career as an actor and producer and her work as a Unicef Goodwill Ambassador.

About the memoir: The memoir promises to offer insights into Priyanka Chopra Jonas’ childhood in India, her formative teenage years in the US. Her return to India resulted in the newcomer to the pageant world, against all odds, winning the national and international beauty competitions – Miss India and Miss World – that launched her global acting career.

 

INTERNATIONALUPDATES:

 

1. Exim Bank to provide USD 400 mn funding for Maldives: The Export-Import Bank of India (Exim Bank) will provide USD 400 million to the Maldives through Line of Credit (LoC) to fund the Greater Male Connectivity Project. The agreement under the LoC will be effective from January 28, 2021. The 6.7 km Greater Male Connectivity Project (GMCP) will be the largest civilian infrastructure project in the Maldives, connecting Male with three neighbouring islands – Villingili, Gulhifahu and Thilafushi. The Government of India will be funding the implementation of a major connectivity project in the Maldives through a USD 400 million lines of credit and USD 100 million grant.

Note: Export-Import Bank of India CEO: David Rasquinha; Export-Import Bank of India  Founded: 1 January 1982; Export-Import Bank of India Headquarters: Mumbai, Maharashtra.

President of the Maldives: Ibrahim Mohamed Solih; Capital of Maldives: Male; Currency of the Maldives: Maldivian Rufiyaa.

 

2. India Energy Demand Set to Grow Fastest in the World; to Overtake EU: India’s energy demand will increase more than that of any other country over the next two decades, the International Energy Agency (IEA) said forecasting India overtaking the European Union as the world’s third-largest energy consumer by 2030. An expanding economy, population, urbanisation and industrialisation will result in India’s energy needs growing at three times the global average under today’s policies, according to IEA’s India Energy Outlook 2021. Energy use has doubled since 2000, with most of that demand met by coal and oil. This is set to grow about 35 per cent until 2030, down from 50 per cent before the coronavirus pandemic. India at present is the fourth-largest global energy consumer behind China, the United States and the European Union.

 

OTHER UPDATES:

 

SPORTS

 

1. Drass Red win 13th CEC Cup Ice Hockey Championship: In KargilLadakh, Drass Red has won the 13th CEC Cup Ice Hockey Championship beating Hockey Club Chiktan team in the Final match. The 1st Women CEC Ice Hockey Cup 2021 was lifted by ShakarChiktan Team defeating WakhaMulbekh Team. 32 Men teams and 5 Women Teams participated in the tournament which was organized by the District Youth Services & Sports.

 

2. ICC announces BYJU’S as global partner until 2023: The International Cricket Council (ICC) announced BYJU’S, India’s largest EdTechcompany as their global partner from 2021 to 2023. The three-year agreement will see BYJU’S partner all ICC events over the period, including the forthcoming ICC Men’s T20 World Cup in India, and the ICC Women’s Cricket World Cup in New Zealand. As a global partner, BYJU’S will have extensive in-venue, broadcast, and digital rights across all ICC events.

 

BANKING AND FINANCE

 

1. Bank of Maharashtra ties up with LoanTap Credit for co-lending to MSMEs: Bank of Maharashtra said it has entered into a co-lending agreement with Pune-based non-banking financial company LoanTap Credit Products for MSME loans. The co-lending model provides ease of loan sanctions at borrower’s convenience through digital lending platforms, which cover end-to-end loan processing cycles without manual intervention or visiting bank branches. Under the co-lending model, the bank will have an exposure of up to 80 per cent to an MSME customer. LoanTap will take the balance exposure.

 

2. India’s Forex reserves jump by 4.85 billion dollars to record high of 590.18 billion dollars: The country’s foreign exchange reserves rose by 4.85 billion US Dollars to touch a record high of 590.18 billion dollars in the week ended January 29. Forex reserves rose on account of an increase in foreign currency assets (FCA), a major component of the overall reserves. FCA increased by 5.03 billion dollars to 547.22 billion dollars. The gold reserves declined by 164 million dollars to 36.29 billion dollars in the week ended January 29. The special drawing rights with the International Monetary Fund (IMF) were down by 4 million dollars to 1.51 billion dollars in the reporting week. The country’s reserve position with the IMF also declined by 6 million dollars to 5.16 billion dollars in the week.

 

BUSINESS AND ECONOMY

 

1. Moody’s projects nominal growth of 17% for next fiscal: Global rating agency Moody’s projected India’s nominal growth at 17% for the coming fiscal, a mark up from the 14.3% earlier, based on the “pro-growth” budget, but highlighted the weak prospects of fiscal consolidation. The larger-than-expected deficit projections reflected both credible budgetary assumptions and greater transparency, but the government’s weak fiscal position is likely to remain a key credit challenge. The agency had pegged India’s fiscal deficit for the current fiscal at 7.5% of GDP and 5.5% for the next fiscal, while the budget put the figures at 9.5% and 6.8% for FY21 and FY22, respectively.

 

2. Maharashtra govt signs MoU with Flipkart to promote wooden toys, local artifacts, handicrafts: In order to promote wooden toys, local artifacts, handicrafts Maharashtra Small Industries Development Corporation and Maharashtra State Khadi& Village Industries Board have signed a Memorandum of Understanding(MoU) with Flipkart. This MoU will enable artisans, weavers, craftsmen & MSMEs from Maharashtra to showcase their products to millions of customers in India. Flipkart will provide free training for packaging and branding to all these manufacturers. Also, product photography will also be done by the company.

 

3. HAL, Wipro3D collaborate to manufacture metal 3D printed aircraft engine component: Wipro 3D and Engine Division of Hindustan Aeronautics Ltd (HAL) have collaborated for the development, manufacturing and air worthiness certification of a critical aero-engine component operating in the hot zone, using metal 3D printing. The Nozzle Guide Vane (also called the Inner Ring), 3D printed in a high temperature resilient steel A286, has been awarded Airworthiness certification by Centre for Military Airworthiness and Certification (CEMILAC), the regulatory body of Defence Research and Development Organization (DRDO). Wipro 3D is the metal Additive Manufacturing (AM) business of Wipro Infrastructure Engineering (WIN). “The Wipro3D manufactured components shall be installed in HAL manufactured helicopter engines.

 

OBITUARIES

 

1. Former West Indies pacer Ezra Moseley passes away: Former Windies pacer Ezra Moseley passed away after being hit by a car in his native Barbados. He was 63. Moseley played 76 matches and took 279 wickets at an average of 23.31 runs per wicket. He also took 102 wickets in 79 List A matches. He was the assistant coach when the West Indies Women’s team won the ICC Women’s T20 World Cup in India in 2016 and was the current coach of the Barbados Women’s team.