Daily GK Update - 31st March, 2021

 NATIONAL UPDATES:

1. Women-led startup develops wireless product ‘Giga Mesh’ for reliable low-cost internet services to rural areas: Bengaluru-based women-led startup, Astrome, has developed an innovative wireless product called Giga Mesh, which can provide reliable low-cost internet services to suburban and rural areas. The Giga Mesh is a wireless product with the ability to provide quality, high-speed rural telecom infrastructure at 5 times lower cost.  It will give fibre like bandwidth at fraction of cost of fibre. This product may prove to be boon for the rural areas as providing internet access at remote places is difficult because laying fibre is too expensive. Besides, the currently available wireless backhaul products either do not provide sufficient data speeds or the required range, or are very expensive to deploy. Astrome is a deep tech startup incubated at the Indian Institute of Science (IISc), Bangalore, and supported by DST-ABI Woman Startup Program of the Department of Science and Technology (DST). The team was led by Dr. Neha Satak, co-founder and chief executive officer at Astrome.

2. Education Minister inaugurates ‘Anandam: The Center for Happiness’ at IIM Jammu: Union Education Minister, Ramesh Pokhriyal has inaugurated “Anandam: The Center for Happiness” at the Indian Institute of Management (IIM), Jammu virtually. The centre will help people overcome mental stress and help spread positivity and it will encourage and propagate holistic development for all the stakeholders at IIM Jammu. Lieutenant Governor, Jammu, and Kashmir, Manoj Sinha; Founder, Art of Living Foundation, Sri Sri Ravi Shankar virtually graced the occasion. The purpose of establishing ‘Anandam’ at IIM Jammu is to bring holistic well-being. Regular physical exercises at the Center will contribute to the wellness at the physical level for both the students and the faculty. Under the concept of ‘Anandam: The Center for Happiness’ will be divided into five broad categories, namely, Counselling, Holistic wellness, Elective courses on Happiness Development, Research and Leadership & Faculty Development.

3. Jal Shakti Minister approves Rs. 465 crore as Performance Incentive fund for seven states under JJM: Jal Shakti Minister Gajendra Singh Sekhawat has approved Rs. 465 crore as Performance Incentive fund for seven states under Jal Jeevan Mission. These states are Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Sikkim, Gujarat and Himachal Pradesh. For performance incentive grant, the criteria includes physical and financial progress under Jal Jeevan Mission, functionality of piped water supply schemes and capacity to utilize the fund.

                                    INTERNATIONAL UPDATES:

1. US President Biden invites PM Modi to Leaders’ Summit on Climate: President Joe Biden has invited 40 world leaders, including Prime Minister Narendra Modi, to a US-hosted virtual summit on climate next month to underscore the urgency and the economic benefits of stronger climate action. Biden will host a two-day climate summit of world leaders starting on Earth Day, April 22, in which he will outline the US goal for reductions of carbon emissions by 2030, known as the nationally determined contribution under the historic Paris accord. The White House said a total of 40 world leaders, including Prime Minister Modi, Chinese President Xi Jinping and Russian President Vladimir Putin, were invited to the conference, which will be live-streamed to the public.

Other leaders invited for the summit include Japanese Prime Minister Yoshihide Suga, Brazilian President Jair Bolsonaro, Canadian Prime Minister Justin Trudeau, Israeli Prime Minister Benjamin Netanyahu, Saudi Arabia King Salman bin Abdulaziz Al Saud and UK Prime Minister Boris Johnson. Bangladeshi Prime Minister Sheikh Hasina and Bhutanese Prime Minister Lotay Tshering are the other two leaders from South Asia to be invited for the mega-conference.

2. World Bank Releases “World Development Report 2021″: The “World Development Report 2021: Data for Better Lives” was released by the World Bank. The World Development Report focuses on how data can improve the lives of poor people and advance development objectives, to ensure no one is left behind. It highlights the tremendous potential of the changing data landscape to improve the lives of poor people, at the same time acknowledging its potential to open back doors that can harm individuals, businesses, and societies.

Through this report, World Bank aims to support its client countries by identifying where public and private sector investments are the most critical, defining a rich program for policy reform and technical assistance, and highlighting areas in which global initiatives can help to convene and facilitate cross-border cooperation.

Note: World Bank Headquarters: Washington, D.C., United States; World Bank Formation: July 1944; World Bank President: David Malpass..

3. Global Wind Report 2021: 2020 was Best Year for Wind Industry: Despite the COVID-19 pandemic, the year 2020 was the best year in history for the global wind industry as this sector installed 93GW of new capacity in 2020, according to a new report titled ‘Global Wind Report 2021, released by the Global Wind Energy Council. This is the 16th annual flagship report, released by GWEC on March 25, 2021. The 93GW represents a 53% year-on-year increase.

As per the report:

(1) The global wind power market increased four times in size over the past decade but the record growth was seen in 2020. This increase was driven by a surge of installations in China and the US alone

(2) Together, the US and China installed 75% of new installations in 2020 and account for over half of the world’s total wind power capacity.

(3) In the current scenario, 743GW of wind power capacity has been installed worldwide, which is helping to avoid over 1.1 billion tonnes of CO2 annually.

(4) However, GWEC’s report shows that the current rate of wind power installed will not be enough to achieve carbon neutrality by 2050. The world needs to install a minimum of 180 GW of new wind energy every single year to limit global warming to well below 2°C above pre-industrial levels.

(5) Similarly, it will need to increase the capacity to 280GW annually to meet the net-zero emission target by 2050.

Note: Global Wind Energy Council Headquarters: Brussels, Belgium; Global Wind Energy Council CEO: Ben Backwell; Global Wind Energy Council Founded: 2005.

4. International Transgender Day of Visibility: 31st March: International Transgender Day of Visibility observed globally on 31st March every year. The day is dedicated to celebrating transgender people and raising awareness of discrimination faced by transgender people worldwide, as well as a celebration of their contributions to society.

History of the Day: The day was founded by US-based transgender activist Rachel Crandall of Michigan in 2009. As a reaction to the lack of LGBT recognition of transgender people, citing the frustration that the only well-known transgender-centred day was the Transgender Day of Remembrance which mourned the murders of transgender people but did not acknowledge and celebrate living members of the transgender community. The first International Transgender Day of Visibility was held on March 31, 2009. It has since been spearheaded by the U.S.-based youth advocacy organization Trans Student Educational Resources.

5. International Day of Drug Checking: 31 March: The International Day of Drug Checking takes place on March 31 every year since 2017 to ensure people are educated on drugs and aware of their effects. The day aims to promote harm reduction initiatives of drugs and reduce drug-related risks.

6. World Backup Day: 31 March: World Backup Day is marked every year on March 31 the day aims to reminds us to protect our precious digital documents as we’ve become more reliant on technology. It is a day for people to learn about the increasing role of data in our lives and the importance of regular backups.

History of World Backup Day: World Backup Day was started in 2011, by digital consultant Ismail Jadun. Jadun saw a post on Reddit, where a user wrote about losing their hard drive and wishing someone had reminded them about how important it is to backup your data. Jadun thought it would be a good idea to have a global day to remind everyone to sit down and back up all the files and documents they don't want to lose. He chose March 31st as the date to observe World Backup Day because it is the day before April Fool's, and only a fool would forget to backup their data.

 OTHER UPDATES:

 SPORTS

1. IPL 2021: CSK appoints Equitas Small Finance Bank as official retail banking partner: Equitas Small Finance Bank has renewed its partnership with Chennai Super Kings for the IPL season 2021. It will be the ‘Official Retail Banking Partner’ for the team. In line with the brand ethos and the logo positioning at the back of the helmet & cap, it is also going to launch a new campaign titled “The Bank Behind Every Champion”. The new campaign will be aimed to communicate that, Equitas has been transforming lives of individuals through their lending and social responsibilities over time with the support and funds of people who are banking with them.

 BANKING AND FINANCE

1. HDFC Bank Named India’s Best SME Bank by Asiamoney: HDFC Bank has adjudged the ‘India’s Best Bank for SMEs’ at the Asiamoney Best Bank Awards 2021. In its evaluation, the magazine said on its website – “HDFC Bank’s transformation of its micro, small and medium-sized enterprise (MSME) business over the past few years makes it a worthy winner of this award.” The Annual Best Banks survey of the financial magazine based in Hong Kong aims to identify which banks in each market have excelled across a range of core banking activities over the past 12 months.

Asiamoney’s award decisions were made by a team of senior journalists after receiving detailed submissions from market participants and in conjunction with research into the banking and capital markets by our editorial committee. Senior editors also visited each country or territory to meet leading bankers and gather client and competitor feedback.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: Sashidhar Jagdishan (Succeeds Aditya Puri); The tagline of HDFC Bank: We understand your world.

 BUSINESS AND ECONOMY

1. SAIL Chairperson Soma Mondal appointed Chairperson of SCOPE: Soma Mondal, the chairperson of the state-owned Steel Authority of India Limited (SAIL), was on March 26, 2021, elected the new chairperson of the Standing Conference of Public Enterprises (SCOPE). Mondal will have a two-year term starting April; she took charge of SAIL on January 1, 2021.

About the SCOPE: SCOPE is an apex professional organization representing the Central Public Sector Enterprises (CPSEs). It promotes excellence in organisations where public investment is involved, in order to enable them to be globally competitive.

Note: SAIL Headquarters: New Delhi; SAIL founded: 19 January 1954.

AWARDS AND HONOURS

1. Dr Sharankumar Limbale to receive Saraswati Samman 2020: Noted Marathi writer Dr Sharankumar Limbale will receive Saraswati Samman, 2020 for his book Sanatan. The award carries fifteen lakh rupees, a citation and a plaque. Saraswati Samman, instituted by KK Birla Foundation in 1991, is recognised as the most prestigious and highest literary award in the country. Dr Limbale’s Sanatan has been published in 2018. Sanatan is an important social and historical document of the Dalit struggle. Speaking first to All India Radio, Dr Limbale was overjoyed with emotion as he started his career with the public broadcaster.

OBITUARIES

1. 1971 Battle of Basantar hero, Lt Gen Pinto (retd) passes away: Lieutenant General, Walter Anthony Gustavo ‘WAG’ Pinto (Retd), a military hero who led an infantry division to a legendary victory in the 1971 India-Pakistan War has passed away at the age of 97. He led the 54 Infantry Division in the Battle of Basantar in the war that gave birth to Bangladesh, leading his troops from the front with the motto he coined “bash on regardless”.

Daily GK Update - 30th March, 2021

 NATIONAL UPDATES:

1. Dr Harsh Vardhan launches ‘Tribal TB Initiative’ in pursuit of TB Mukt Bharat: Health Minister Dr Harsh Vardhan has launched the ‘Tribal TB Initiative’ in pursuit of TB Mukt Bharat. The government accords top priority to ensuring Universal Access to free treatment and care for TB across the country. A Guidance Note on Joint Action Plan for Tuberculosis (TB) Elimination, a Special Edition of Tribal Ministry’s Publication ‘ALEKH’ on TB, and a document on Tribal Tuberculosis (TB) Initiative was also released at the event. He said the government has already increased the Budget allocation for TB in India four-fold in the last five years. Dr Harsh Vardhan said the Union Territories of Lakshadweep and the district of Badgam in Jammu and Kashmir have been declared TB Free on World TB Day this year.

2. 7th annual summit of NATHEALTH: Union Minister for Health and Family Welfare, Dr Harsh Vardhan, addressed the 7th annual summit of NATHEALTH. The summit focused on ‘Indian Health system expansion in post-COVID era’. While addressing the summit the minister reiterated the commitments of the government for fulfilling the goal of Health for all.

The primary vision of the policy-framework is to attain highest possible level of health and well-being for all irrespective of all age groups. To attain this vision, the policy emphasizes on preventive & promotive aspects of health and providing universal access to good quality healthcare services. Government also launched Ayushman Bharat program with the objective of providing Universal Free Access to primary health care, promoting health and wellbeing.

3. BCAS signs agreement with Yamuna International Airport for civil aviation security: A Letter of Agreement (LoA) was signed between the Bureau of Civil Aviation Security (BCAS) and Yamuna International Airport Private Limited (YIAPL) in New Delhi. The LoA defines provisions for civil aviation security responsibilities and functions at the upcoming international airport at Jewar, Noida. The Letter of Agreement stipulates the civil aviation security responsibilities and functions and implement the tasks relating to civil aviation security, defined, and allocated for implementation of various aspects of the National Civil Aviation Security Programme (NCASP) at Noida International Airport. The contract of construction of the airport has been awarded to YIAPL, which is a joint venture of the Airport Authority of India (AAI), the Government of Uttar Pradesh, and Zurich international airport.

4. Maharaja Chhatrasal Convention Centre inaugurated at Khajuraho under Swadesh Darshan Scheme: The Minister of State for Tourism and Culture (Independent Charge) Shri Prahlad Singh Patel, and the Chief Minister of Madhya Pradesh Shri Shivraj Singh Chouhan jointly inaugurated the ‘Maharaja Chhatrasal Convention Centre at Khajuraho, Madhya Pradesh. The Convention Centre has been developed under Swadesh Darshan Scheme of Ministry of Tourism, adding another feather to the UNESCO world Heritage site at Khajuraho. This new venue will cater to the business needs, by hosting meetings and conferences. The convention Centre is equipped with all modern amenities and infrastructure to offer a secure space to host corporate banquets for teams both large and small amidst a soothing decor and ambience.

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

 INTERNATIONAL UPDATES:

1. New Zealand passes miscarriages bereavement leave law: New Zealand’s parliament has passed legislation giving mothers and their partners the right to paid leave following a miscarriage or stillbirth, becoming only the second country in the world to do so. India is the only other country with similar legislation. The leave provisions apply to mothers, their partners as well as parents planning to have a child through adoption or surrogacy. One in four New Zealand women has had a miscarriage. The bill will give women and their partners time to come to terms with their loss without having to tap into sick leave. Because their grief is not a sickness, it is a loss. New Zealand was the first country in the world to give voting rights to women and has been a pioneer on issues around woman’s rights.

Note: Prime minister of New Zealand: Jacinda Ardern; Capital of New Zealand: Wellington; The currency of New Zealand: New Zealand dollar.

2. India, Bangladesh sign five MoUs in various fields: Prime Minister Narendra Modi met his Bangladeshi counterpart Sheikh Hasina and discussed the progress achieved in areas like connectivity, energy, trade, health and developmental cooperation following which the two countries signed five MoUs covering a number of areas of bilateral cooperation. Mr. Modi, who is visiting Bangladesh on his first trip to a foreign country since the outbreak of the coronavirus, held one-on-one talks with Ms. Hasina which was followed by delegation-level meeting which continued for over an hour. The two sides signed five Memorandum of Understandings (MoUs) covering areas such as connectivity, commerce, information technology and sports.

In a humanitarian gesture, Mr. Modi handed over a representational key of 109 ambulances to his counterpart Hasina. He also handed over a representational box to her as a symbol of India's gift of 1.2 million COVID vaccine doses to Bangladesh. Ms. Hasina presented a gold and a silver coin released on the occasion of the birth centenary of her father and Bangabandhu Sheikh Mujibur Rahman to Modi. She also handed over a silver coin released on the occasion of the 50th anniversary of Bangladesh's Independence.

3. Pakistan successfully test fires nuclear-capable ballistic missile Shaheen 1-A: Pakistan successfully test-fired a nuclear-capable surface-to-surface ballistic missile with a range of 900 kilometres. The test of Shaheen-1A surface to surface ballistic missile, was aimed at re-validating various design and technical parameters of the weapon system including advanced navigation system, the media wing of the Pakistani army - the Inter-Services Public Relations (ISPR), said in a statement.

 OTHER UPDATES:

SPORTS

1. India tops the medals tally with 15 gold at Delhi ISSF Shooting World Cup: India finished at the top of the medals table at the 2021 ISSF World Cup New Delhi, held from 18 to 29 March 2021 at the Dr Karni Singh Shooting Range in New Delhi. India secured 30 medals which included 15 gold, 9 silver and 6 bronze. The USA came second with eight medals including four gold, three silver and one bronze.

Gold Medal Winners:

Aishwary Pratap Singh Tomar: Men’s 50-metre rifle three positions

Saurabh Chaudhary, Shahzar Rizvi and Abhishek Verma: Men’s 10-metre air pistol team event

Swapnil Kusale, Chain Singh and Neeraj Kumar: Men’s 50-metre rifle three positions team event

Gurjoat Khangura, Angad Vir Singh Bajwa and Mairaj Ahmad Khan: Men’s Skeet team event

Kynan Chenai, Prithviraj Toidaiman, Lakshay: Men’s Trap team event

Chinki Yadav: Women’s 25-metre pistol

Yashaswini Singh Deswal: Women’s 10-metre air pistol

Yashaswini Singh Deswal, Manu Bhaker, Shri Nivetha Paramanantham: Women’s 10-metre air pistol team

Rahi Sarnobat, Manu Bhaker, Chinki Yadav: Women’s 25-metre pistol event

Rajeshwari Kumar, Shreyasi Singh, Manisha Keer: Women’s Trap event

Saurabh Chaudhary/Manu Bhaker: 10-metre air pistol Mixed Team event

Divyansh Singh Panwar/Elavenil Valarivan: 10-metre air rifle Mixed Team

Tejaswini/Vijayveer Sidhu: 25-metre rapid-fire Pistol Mixed Team

Sanjeev Rajput/Tejaswini Sawant: 50-metre rifle three positions Mixed Team

Angad Vir Singh Bajwa/Ganemat Sekhon: Trap Mixed Team

 

BANKING AND FINANCE

1. RBI Extends Restrictions on PMC Bank until June 30, 2021: The Reserve Bank of India (RBI) announced that the restrictions on withdrawals and deposits in the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank have been extended till June 30, 2021. The restrictions on the bank’s activity were first placed in September 2019, after the central bank took cognisance of a major financial irregularity. The restrictions were consecutively extended, and were set to expire on March 31, 2021. The RBI, however, has decided to maintain the status quo for at least three more months. In this period, it would continue to engage with prospective investors for the bank’s reconstruction. PMC Bank had received binding offers from certain investors for its reconstruction, in response to the expression of interest (EOI) floated by the bank on November 3 last year.

BUSINESS AND ECONOMY

1. S&P raises India’s FY22 GDP growth forecast to 11% from 10%: S&P Global Ratings raised India’s growth forecast for the financial year 2021-22 to 11% from 10% earlier, led by an expansionary fiscal policy aimed at boosting domestic private spending. It has also raised the 2021 growth forecast for China to 8% from 7% on stronger-than-expected exports and lingering momentum in the property market.

Note: S&P Global Ratings Headquarters: New York, United States; President of S&P Global Ratings: John Berisford.

2. Adani Ports to buy 58% stake in Gangavaram Port: Adani Ports announced that it will acquire a 58% stake in Gangavaram Port Limited (GPL) held by D.V.S Raju and family for Rs 3,604 crore. The deal, which is subject to regulatory approvals, will take the stake of the private multi-port operator to 89.6% in GPL. Earlier this month, Adani Ports and Special Economic Zone (APSEZ) announced the acquisition of Warburg Pincus's 31.5% stake in GPL.

Located in proximity to the Vizag Port, Gangavaram Port is the second largest non-major port in Andhra Pradesh and is in the business of handling several types of dry and bulk commodities comprising iron ore, limestone, sugar, coal, fertiliser, bauxite, alumina, and steel. Currently, GPL operates 9 berths and has free-hold land of 1,800 acres. With a master plan capacity of 250 MTPA with 31 berths, the port has sufficient headroom to support future growth.

AWARDS AND HONOURS

1. Maggie O’Farrell’s ‘Hamnet’ wins book critics award for fiction: Maggie O’Farrell’s Hamnet, an imagined take on the death of Shakespeare’s son from the bubonic plague, has won the National Book Critics Circle prize for fiction. Hamnet, an unfortunately well-timed story for the current pandemic, explores the impact of the boy’s illness and death on his family. He was Shakespeare’s only son, and scholars have long speculated about his influence if any on “Hamlet,” which Shakespeare worked on in the years following Hamnet’s death.

Another winner in a different category: Tom Zoellner’s Island on Fire: The Revolt That Ended Slavery in the British Empire won for nonfiction, and Amy Stanley’s Stranger in the Shogun’s City: A Japanese Woman and Her World was the winner in biography. The autobiography award went to Cathy Park Hong for Minor Feelings: An Asian American Reckoning.

OBITUARIES

1. Former RBI Deputy Governor KC Chakrabarty passes away: Former Reserve Bank of India Deputy Governor, KC Chakrabarty passed away. He was the deputy governor of the central bank between 15 June 2009 and 25 April 2014 when he demitted office three months before his term was to end. Prior to the stint, he had served as the chairman and managing director (CMD) of Punjab National Bank (2007-2009), and CMD of Indian Bank (2005-2007). Chakrabarty started his career as a banker with the Bank of Baroda where his last assignment was to head the UK operations of the bank between 2001 and 2004.

Daily GK Update - 29th March, 2021

                                            NATIONAL UPDATES:

1. AYUSH Ministry sets up interdisciplinary team of experts to explore the potential of Yoga as a productivity enhancing tool: The Ministry of AYUSH has set up a high level interdisciplinary committee to explore various aspects of the Productivity dimension of Yoga. The committee would be chaired by Dr. H. R Nagendra, Chancellor, Swami Vivekananda Yoga Anusandhana Samsthana (SVYASA). The main objective to form this committee is to find answer to following questions:

(1) Can yoga be deployed as a productivity boosting tool at the workplace?

(2) Can its wider adoption have positive implications on the systematic growth and development of the economy, and hence the nation?

Other members of this committee will include representatives from AIIMS New Delhi, IIM Bangalore, IIT Bombay, various leading Yoga institutions, the corporate sector and the AYUSH Ministry. The committee will submit its preliminary recommendations by May 2021.

2. UP govt organizes ‘banana festival’ in Kushinagar: Uttar Pradesh government was organised a ‘Banana Festival’ in Kushinagar, which has witnessed the participation of at least 35 farmers and entrepreneurs. The state government had in 2018 organised the One District One Product (ODOP) scheme to promote traditional enterprise. Noting the good cultivation of bananas in Kushinagar, products in the district made from banana fibre were selected in the ODOP scheme. At least 4,000 farmers are linked to banana cultivation and after inclusion in the ODOP scheme, around 500 people are employed in its processing. There are three banana fibre processing units in the district and the construction of a Common Facility Centre (CFC) is also planned.

Note: Uttar Pradesh Capital: Lucknow; Uttar Pradesh Governor: Anandiben Patel; Uttar Pradesh Chief minister: Yogi Adityanath.

3. Education Minister launches more than one hundred comic books: Union Minister of Education has launched 100+ comic books created by teachers and students of CBSE schools and curated by NCERT. It is framed by Depart of School Education and Literacy under New Education Policy 2020 and is aligned to chapters of NCERT textbooks across grades 3-12. This will help in increasing the cultural and social sensitivity in our children while imparting knowledge. These comics can be accessed online on DIKSHA web portal (diksha.gov.in).

4. Govt to roll out GPS based toll collection system: Govt is all set to roll out a GPS based toll collection system and introducing E-Highway from Delhi to Mumbai. Toll collection through fast tag has reached to 93% across the country which has resulted in 10 thousand crore more toll collection in comparison to previous year. Introduction of GPS based toll collection system will facilitate smooth movement of traffic, bring transparency, remove the old mechanism of toll collection system and provide jobs.

5. NHAI to develop world class ‘Wayside Amenities’ at more than 600 locations: National Highways Authority of India (NHAI) will develop world class ‘Wayside Amenities’ at more than 600 locations across 22 states in 5 years. Out of these, 130 are targeted for development in 2021-22. Wayside amenities will be developed every 30 to 50 km along current and upcoming Highways and Expressways. It will include numerous facilities for passengers such as Fuel Station, Electric Charging Facilities, Food Court, Retail Shops, ATM, Toilets with shower facility etc.

6. Andaman & Nicobar achieves 100% Functional Household Tap Connection coverage under Jal Jeevan Mission: Andaman and Nicobar Islands Lt. Governor Admiral D K Joshi declared that the UT achieved 100 percent Functional Household Tap Connection (FHTC) coverage in Islands. With this, the Andaman and Nicobar Islands becomes the third state/UT in the country to achieve the target after Goa and Telangana under Jal Jeevan Mission. The connections were provided at 266 villages located in 9 blocks in all the three districts. All the schools, Anganwadi centers and sub-centers have also been covered under this.

                                                INTERNATIONAL UPDATES:

1. Indo-Korean Friendship Park Inaugurated at Delhi Cantonment: India’s First Indo-Korean Friendship Park was jointly inaugurated at Delhi Cantonment by Hon’ble Raksha Mantri, Shri Rajnath Singh, and Hon’ble Minister of National Defence, Republic of Korea Mr Suh Wook. The park has been developed in joint consultation with the Ministry of Defence, the Government of India, the Indian Army, the Delhi Cantonment Board, the Embassy of Korea and the Korean War Veterans Association of India. Besides being a symbol of strong India-South Korea friendly relations, this park will also act as a monument to India’s contributions as part of 21 countries that participated in the Korean war 1950-53, under the aegis of the United Nations.

Note: South Korea Capital: Seoul; South Korea President: Moon Jae-in; South Korea Currency: South Korean won

2. Dubai International Airport Partners with Magzter to Become World’s First ‘Smart Reading Airport: Customers flying through Dubai International (DXB) now have free access to Magzter’s collection of more than 7,000 leading magazines, newspapers, journals and comics, making DXB the world’s first smart reading airport’. A fully contactless and paperless digital experience – using geo-fencing satellite technology – the Magzter partnership enables customers travelling through DXB to download the latest issues of world-renowned publications on their own devices, to read in the airport and onboard their flights. DXB’s Smart Reading Zone’ can also be accessed by logging onto the airport’s super-fast, free wifi network, which acts as a gateway to Magzter’s extensive collection of publications.

3. Suez Canal reopens after giant stranded ship is freed: The giant container ship “Ever Given” that blocked traffic in the Suez Canal for the last week resumed its journey, after being successfully refloated. The efforts to float the delinquent Panamanian container ship Ever Given are successful. The 1,400-foot-long cargo ship jammed diagonally across a southern section of the Suez Canal, leaving a total of 367 ships, including dozens of container ships and bulk carriers, unable to use the key trading route.

                                               OTHER UPDATES:

SPORTS

1. India finish 3rd in 2021 Para Shooting World Cup with 7 Medals: India bagged 3rd position at the end of 2021 World Shooting Para Sport competitions with seven medals, held at Al Ain in UAE from 15 to 25 March 2021. India won two gold medals, one silver and four bronze medals at the event. Ukraine topped the medal tally with 11 medals (five gold, five silver and one bronze) followed by host nation UAE which won five medals (three gold and two silver). Manish Narwal and Singhraj were the gold medal winners for India.

2. FIFA collaborates with United Nations to tackle menace of match-fixing: FIFA announced its collaboration with the United Nations on Office on Drugs and Crime (UNODC) to launch the Global Integrity Programme –– a comprehensive international programme aimed at providing all 211 member associations with enhanced knowledge and tools to fight and prevent match manipulation.      The FIFA Global Integrity Programme is designed to improve education and build integrity capacity within all 211 member associations by sharing advanced know-how and resources with integrity officers. The programme also reflects the UNODC’s objective of supporting governments and sports organisations in their efforts to safeguard sport from corruption and crime.

BANKING AND FINANCE

1. RBI announces special measures for annual closing of govt accounts for current financial year: Reserve Bank of India has announced special measures for annual closing of government accounts for the current financial year. A special clearing will be conducted for collection of government cheques on 31st March 2021. RBI has instructed all agency banks to keep their designated branches open for over the counter transactions related to government transactions up to the normal working hours on 31st March. For reporting government transactions to RBI, the reporting window will be open till the midnight of 31st March. Transactions through NEFT and RTGS can also be carried out up to to midnight on the day.

BUSINESS AND ECONOMY

1. Govt reintroduces clause on 5% withholding tax for FPIs: The Finance Ministry has reintroduced the clause in the Income tax act that provided for preferential 5% withholding tax applicable to foreign portfolio investors (FPIs). As a part of amendments to the Finance Bill 2021 introduced in Lok Sabha on 22 March, the government has put back the deleted clause of Section 151 which referred to the five per cent withholding tax rate for FPIs in case of interest earned from debt securities.

Note: FPIs are big-ticket investors in the Indian debt market owning assets worth more than Rs 4 lakh crore, depositories data showed. Withholding tax is a tax that is deducted by the creditor before paying interest to foreign bond investors.

2. Government exits from Tata Communications, nets Rs 8,846 crore: The government has fully exited Tata Communications Ltd by selling its 26.12% stake and has netted Rs 8,846 crore in the process, the department of investment and public asset management (DIPAM) said Monday. The government has divested its holding through two steps, by selling 16.12% in TCL, previously called VSNL, through an offer for sale at Rs 5,457 crore, followed by sale of 10% stake to strategic partner at offer for sale discovered price for Rs 3,389 crore.

Note: Public sector company VSNL was privatised in 2002 by disinvesting 25% shareholding along with transfer of management control to Panatone Finvest Ltd., the strategic partner. Subsequent to the strategic disinvestment, the name of the company was changed to TCL.

AWARDS AND HONOURS

1. Mahinder Giri, range officer won the International Ranger Award: Mahinder Giri, range officer of Rajaji Tiger Reserve for being the only ranger from Asia to win the prestigious International Ranger Award for his contribution towards conservation. The award has been announced for 10 professionals across the world by the International Union for Conservation of Nature IUCN and World Commission on Protected Areas WCPA. Developed through a collaboration between the IUCN WCPA, the International Ranger Federation, Global Wildlife Conservation, and Conservation Allies, these awards, created in 2020, aim to highlight and felicitate the extraordinary work that rangers do in protected and conserved areas worldwide.

OBITUARIES

1. Noted journalist and author Anil Dharker passes away: Noted journalist and author Anil Dharker passed away. He was the founder and director of the Mumbai International Literary Festival. He was in his mid-70s, was the editor of several publications including Mid-Day and The Independent and played a vital role in opening the Akashwani Auditorium in south Mumbai as an art movie theatre. Dharker had been the editor of a variety of publications, starting with ‘Debonair’, ‘Mid-Day’; ‘The Independent’ and ‘The Illustrated Weekly of India’. He was a columnist for The Indian Express newspaper and has authored ‘The Romance Of Salt’, a book on Mahatma Gandhi’s Dandi March.

Daily GK Update - 28th March, 2021

 NATIONAL UPDATES:

1. J&K LG Manoj Sinha e-inaugurates 73 AYUSH Health & Wellness Centres: Jammu and Kashmir, LG Manoj Sinha has e-inaugurated 73 AYUSH Health & Wellness Centres under Ayushman Bharat across the UT. These centres aim to promote good health and expanding the outreach of comprehensive primary healthcare services to the people of Jammu and Kashmir. The Lt Governor observed that AYUSH Health & Wellness Centres would be a game-changer in the UT of J&K, especially in promoting the AYUSH sector, so that comprehensive primary health care through AYUSH principles and practices is provided to the community for achieving the basic objective of holistic wellness model by advocating self-care and home remedies amongst the community.

Features of Health & Wellness Centres: Some of the features of AYUSH Health & Wellness Centres include medicinal plants garden, yoga space, providing training and suggestions for home treatment, promoting Dincharya (Art of healthy Living), Ritucharya (Wellness calendar) and a personalized healthcare approach.

2. IIT Kharagpur wins CoreNet Global Academic Challenge 6.0: A team of four undergraduate students from the Indian Institute of Technology, Kharagpur emerged as winners at the CoreNet Global Academic Challenge 6.0, sponsored by Cushman and Wakefield, KI and IA: Interior Architects. The team comprised Siddhant Samarth, Pratim Majumdar, Rishita Raj and Utkarsh Agrawal and were guided by Prof. Jenia Mukherjee (Department of Humanities and Social Sciences). The team from IIT Kharagpur was one of the four teams to progress into the final round out of 1300 teams all over the world and were pitted against the University of Washington, New York University and the University of Denver in the final round hosted online on 18th March 2021. This is the first time that a squad from India has emerged as winners in the CoreNet Global Academic Challenge since the inception of the competition in 2015.

About the CoreNet Global: CoreNet Global is a non-profit association, headquartered in Atlanta, Georgia (US), representing more than 11,000 executives in 50 countries with strategic responsibility for the real estate assets of large corporations. The organization’s mission is to advance the practice of corporate real estate through professional development opportunities, publications, research, conferences, designations and networking in 46 local chapters and networking groups globally.

3. Nagaland Health Minister launches ‘i-Learn’ for Community Health Officers: Nagaland Health and Family Welfare Minister S Pangnyu Phom launched i-Learn, a capacity building and performance tracking application for Community Health Officers, CHOs in the state at his office chamber in Kohima. The state government launched i-Learn application in partnership with USAID-NISHTHA/Jgpiego which will cater across the 189 Health & Wellness centers in the state. i-Learn is a learning management system for CHOs with self-facilitated learning for improving and learning new skills in clinical and non-clinical areas.

4. Saurabh Garg appointed as new CEO of UIDAI: Senior bureaucrat, Saurabh Garg has been appointed as the Chief Executive Officer (CEO) of Unique Identification Authority of India (UIDAI) as part of a bureaucratic reshuffle effected by the Centre. Mr Garg is at present serving in his cadre state Odisha. He is a 1991 batch IAS officer. The Appointments Committee of the Cabinet (ACC) has approved the appointment of Mr Garg as the CEO, UIDAI in the rank and pay of Additional Secretary, an order issued by the Personnel Ministry.

Note: UIDAI Founded: 28 January 2009; UIDAI Headquarters: New Delhi.

5. Atish Chandra appointed as CMD of Food Corporation of India: Atish Chandra has been appointed as Chairman and Managing Director, Food Corporation of India in the rank and pay of Additional Secretary. Mr Chandra, a 1994 batch IAS officer of Bihar cadre, is currently Joint Secretary, Department of Agriculture, Cooperation and Farmers Welfare.

Note: Food Corporation of India Founded: 14 January 1965; Food Corporation of India Headquarters: New Delhi.

                                   INTERNATIONAL UPDATES:

1. Republic of Congo President Sassou Nguesso wins election: The longtime president of the Republic of Congo, Sassou Nguesso is set for another five-year term after getting over 88% of the vote. The Election Day was marred by the death of his main opponent, Guy Brice Parfait Kolelas. The African leader is one of the world’s longest-serving presidents, earning him the nickname “emperor.” He has led Congo for a total of 36 years. The former paratrooper first became president in 1979 and remained in power for three consecutive terms.

Note: Republic of Congo Capital: Brazzaville; Republic of Congo Currency: franc.

                                            OTHER UPDATES:

SPORTS

1. ‘Girl Gang’ Announced Official Song Of ICC Women’s World Cup 2022: Girl Gang, a track by New Zealand singer Gin Wigmore, has been announced as the official song of the 2022 ICC Women’s World Cup. The tournament is set to be hosted in New Zealand from March 4 to April 3, 2022. Originally scheduled to be held from February 6 to March 7, 2021, the World Cup was postponed by a year due to the Covid-19 pandemic.

2. Rahi Sarnobat, Chinky Yadav and Manu Bhaker clinch Gold at ISSF Shooting World Cup: In Shooting, India won gold in the women’s 25m Pistol Team event at the ISSF World Cup in Delhi. India beat Poland in the final to win the country’s 10th gold. The Indian women’s team of Rahi Sarnobat, Chinki Yadav and Manu Bhaker beat Poland’s Joanna Iwona Wawrzonowska, Julita Borek and Agnieszka Korejwo 17-7 in the gold medal match. Earlier in the day, the Indian women’s team in the 50m Rifle 3 Positions event had to settle for a silver as they lost 43-47 to Poland in the gold medal match. India is dominating the standings with 21 medals, including 10 gold medals.

BANKING AND FINANCE

1. Banks’ NPAs Declined to Rs 5.70 Lakh Crore at December-End: Non-performing assets of banks declined to Rs 5.70 lakh crore in December 2020 and the recovered amount stood at Rs 2.74 lakh crore following a slew of measures taken by the government, Union Minister Anurag Singh Thakur told. The incidents of frauds reduced to 0.23% from 1.01% in 2013-14, the minister added. Under the present regime, banking has vastly improved, from phone banking to digital banking, which has resulted in transparency and accountability.

2. IRDAI increases max cover under Arogya policy to Rs 10 lakh: To bring more people under the ambit of health insurance, Insurance Regulatory and Development Authority of India (Irdai) has hiked the maximum cover under the standard health insurance plan — Arogya Sanjeevani Policy — from Rs 5 lakh earlier to Rs 10 lakh. The insurance regulator has made it mandatory for insurers to offer a sum insured between Rs 50,000 to Rs 10 lakh under the Arogya Sanjeevani policy as against the previous range of Rs 1 -5 lakh.

 BUSINESS AND ECONOMY

 1. Anish Shah to take over as M&M’s Managing Director, CEO: Anish Shah who is set to take over as the managing director and CEO of Mahindra and Mahindra from 2 April will become the first professional executive to oversee the entire business of the $19.4 billion Mahindra Group. Pawan Goenka will retire as MD and CEO and member of the board effective April 2. Group chairman Anand Mahindra will be taking on a non-executive role. The markets regulator Sebi has mandated that from April 2022 the chairperson of the board of top 500 listed entities must be a non-executive director and not be related to the MD or CEO.

 AWARDS AND HONOURS

1. Carmen Maria Machado wins The Rathbones Folio Prize 2021: ‘In The Dream House: A Memoir’ by Carmen Maria Machado Wins The Rathbones Folio Prize 2021. In the 2019 book, the author outlines her experiences in a same-sex relationship with her former partner, and the abuse she was subjected to. It is at once an inventive and radical work, a true testimony to her narrative gift. The prize is open to all genres – fiction, non-fiction, and poetry- from writers from around the world. It is the only prize in which all the books considered for the prize are selected and judged by an academy of peers, though there are three main judges.

 DEFENCE

1. India conducts first-ever joint patrol in Madagascar EEZ: In a first, the navies of India and Madagascar undertook joint patrolling of Madagascar’s Exclusive Economic Zone (EEZ) and also conducted a Passage Exercise (PASSEX). The first-ever joint patrol between the navies reflects the growing defence ties between the two Indian Ocean neighbours aimed at the common objective of ensuring maritime security in the Indian Ocean Region (IOR). Indian Naval Ship INS Shardul made a port call at Antsiranana, Madagascar as part of the First Training Squadron’s (1TS) Overseas Deployment. INS Shardul and Malagasy Navy ship MNS Trozona carried out a Passage Exercise (PASSEX). The Joint exercise bears testimony to the growing bonds between the maritime forces of both the nations and aimed at common objectives of ensuring maritime security by India and Madagascar and interoperability between the two navies.

Note: Madagascar Capital: Antananarivo; Madagascar President: Andry Rajoelina; Madagascar Currency: Malagasy ariary.

 OBITUARIES

1. Noted Odissi dancer Laxmipriya Mohapatra passes away: Noted Odissi dancer Laxmipriya Mohapatra, the wife of legendary classical dancer Kelucharan Mohapatra, passed away. She started her dancing career at the Annapurna Theatre in Puri in 1947. She has also acted in four Odia movies. Though he was an expert in Odissi and Gotipua dance forms, Kelucharan was then performing as a tabla player in the theatre.

Daily GK Update - 27th March, 2021

 NATIONAL UPDATES:

1. Nirmala Sitharaman launches Central Scrutiny Centre and IEPFA mobile App: Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman virtually inaugurated Central Scrutiny Centre (CSC) and Investor Education and Protection Fund Authority’s (IEPFA) Mobile App. The two tech-enabled initiatives have been launched by the Ministry of Corporate Affairs to leverage digital solutions to achieve the Prime Minister’s vision of ‘Digitally empowered India.

About the Moblie App: The Mobile App will focus on financial literacy by spreading investors’ awareness, education, and protection among investors. The Mobile App has been developed for citizen engagement and information dissemination to promote awareness among investors.

About the Central Scrutiny Centre: The Central Scrutiny Centre will scrutinize certain Straight Through Process (STP) Forms filed by the corporates on the MCA21 registry and flag the companies for more in-depth scrutiny.

2. Hardeep Singh Puri inaugurates Kurnool Airport in Andhra Pradesh: Minister of State (Independent Charge) for Civil Aviation, Hardeep Singh Puri has inaugurated the Kurnool Airport, in Andhra Pradesh virtually. The flight operations at Kurnool airport will begin on 28 March 2021. This airport has been developed under the Regional Connectivity Scheme, Ude Desh Ka Aam Nagrik (RCS-UDAN).

About the airport: Kurnool airport will bring the region closer to major hubs in South India by providing direct flight operations to Bangalore, Vishakhapatnam and Chennai. Kurnool is the 6th airport in Andhra Pradesh to become functional after Kadapa, Visakhapatnam, Tirupati, Rajahmundry & Vijayawada.

Note: Chief Minister of Andhra Pradesh: YS Jagan Mohan Reddy; Governor: Biswa Bhusan Harichandan.

3. Vizag gets mobile water from air kiosk and Water Knowledge Centre: The Hyderabad-based startup, Maithri Aquatech has set up the world’s first mobile water-from-air kiosk and ‘Water Knowledge Centre’ in the smart city of Visakhapatnam. This initiative is supported by Greater Visakhapatnam Municipal Corporation (GVMC) and project SEWAH (Sustainable Enterprises for Water and Health) – an alliance between USAID and SWN (Safe Water Network).

About the kiosk: The kiosk will provide clean potable water from the air by making use of Maithri Aquatech’s Meghdoot solution as a source to generate water with no dependency on groundwater as well as surface water resources. The kiosk will also function as a Water Knowledge Resource Centre (WRKC) by creating awareness and imparting necessary information to members of the local underserved communities as well as nearby schools on the benefits of good water, sanitation and hygiene (WASH) practices.

4. Principal Scientific Advisor K. VijayRaghavan gets extension: The government has extended the term of Principal Scientific Advisor (PSA) K. VijayRaghavan by a year. He was appointed PSA in 2018 after retiring as Secretary of, Department of Biotechnology. His contract ends on April 2 but has now been extended until April 2022. Since the pandemic began, the Office of the PSA has been among the key coordinating agencies with industry, research bodies, health and science ministries to accelerate the development of diagnostics, drugs and vaccines. The PSA office has also been instrumental in formulating the National Science Innovation and Technology Policy as well as the forthcoming National Research Foundation.

5. Sanjeev Kumar appointed as Chairman of Airports Authority of India: IAS Sanjeev Kumar has appointed as Chairman of the Airports Authority of India (AAI) under the Ministry of Civil Aviation. Kumar is a 1993-batch IAS officer of Maharashtra cadre. The Appointments Committee of the Cabinet (ACC) has approved his appointment.

Note: Airports Authority of India Headquarters: New Delhi; Airports Authority of India Founded: 1 April 1995.

 INTERNATIONAL UPDATES:

1. Bangladesh celebrates 50 years of independence: Bangladesh celebrates 50 years of its Independence and National Day on 26 March, coinciding with the grand celebration of the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman. On March 26, 1971, Bangladesh was proclaimed as an independent nation by Sheikh Mujibur Rahman and this led to Bangladesh Liberation War when war ensued between Pakistan and Bangladesh liberation forces with Indian support. History of the Day:

(1) It was 50 years ago on the night of March 25, 1971, that Pakistan’s military launched a violent crackdown on the city of Dhaka, then part of East Pakistan, to quell a rising nationalist movement seeking independence for what is today known as Bangladesh.

(2) The fight for independence can be traced back to Britain’s colonial rule of the Indian subcontinent and the new nations that were carved out after its end in 1947.

(3) There were India and Pakistan, the latter split into West Pakistan and East Pakistan. The war would rage until December when India joined on the side of Bangladesh.

(4) Finally, on December 16, 1971, Pakistan forces surrendered and Bangladesh celebrated its freedom.

Note: Prime Minister of Bangladesh: Sheikh Hasina; Capital: Dhaka; Currency: Taka; President of Bangladesh: Abdul Hamid.

2. World Theatre Day: 27th March: World Theatre Day is observed globally on 27th March every year. World Theatre Day was initiated in 1961 by the International Theatre Institute (ITI), France. It is celebrated annually on the 27th March by ITI Centres and the international theatre community. This day is a celebration for those who can see the value and importance of the art form “theatre”, and acts as a wake-up-call for governments, politicians and institutions which have not yet recognised its value to the people and to the individual and have not yet realised its potential for economic growth.

Every year the Executive Council of ITI chooses an outstanding theatre personality to write the message for World Theatre Day. The author of the Message of World Theatre Day 2021 is Helen MIRREN, United Kingdom. The first World Theatre Day Message was written by Jean Cocteau in 1962.

3. Earth Hour 2021: 27th March: Every year, the Earth Hour is celebrated worldwide on the last Saturday of March month to show support for the fight against climate change and commitment towards a better planet. Earth Hour 2021 is being marked on March 27, 2021. The Earth Hour 2021 theme will focus on “Climate Change to Save Earth.” The Day is a worldwide movement organized by the World Wide Fund for Nature (WWF), encouraging individuals, communities, corporates, and households to turn off their lights for one hour, from 8:30 to 9:30 p.m. It was started as a lights-off event in Sydney, Australia, in 2007 to raise awareness for energy consumption and its effects on the environment.

Note: World Wide Fund Headquarters: Gland, Switzerland; World Wide Fund Founded: 29 April 1961, Morges, Switzerland; World Wide Fund President and CEO: Carter Roberts.

                                             OTHER UPDATES:

SPORTS

1. Yogasana Included in Khelo India Youth Games 2021: Sports Minister Kiren Rijiju has included Yogasana in Khelo India Youth Games 2021 in a bid to develop it as a competitive sport. Yogasana sport for both male and female categories have been included in Khelo India Youth Games, 2021. Rijiju has written a reply in the Lok Sabha that the government has also given recognition to the National Yogasana Sports Federation (NYSF) for the promotion and development of Yogasana in the country. An International Yogasana Sports Federation was formed under the presidentship of yoga guru Baba Ramdev with HR Nagendra as secretary-general in November 2019.

2. Ministry of Sports Decides to Extend “Khelo India” scheme from 2021-22 to 2025-26: The Minister of State for Youth Affairs & Sports Shri Kiren Rijiju has announced that the Sports Ministry has decided to extend the Khelo India scheme for a period of five years, from 2021-22 to 2025-26. An amount of Rs. 8750 crore has been estimated as financial implication of the new Khelo India Scheme (2021-22 to 2025-26) by the Expenditure Finance Committee (EFC). It must be noted that an amount of RS. 657.71 crore has been allocated in the Budget Estimate (B.E.) for the year 2021-22 under the Khelo India Scheme. The scheme was launched in 2016–17, to improve India’s sports culture at the grass-root level through organized talent identification, structured sporting competitions and infrastructure development.

BANKING AND FINANCE

1. ICICI Bank launches instant EMI facility on its internet banking platform: ICICI Bank announced the launch of an instant EMI (Equated Monthly Instalments) facility on its internet banking platform. Called ‘EMI @ Internet Banking’, the facility aims to offer increased affordability to millions of pre-approved customers, as it enables them to convert their high-value transactions up to ₹5 lakh into easy monthly instalments. It also brings in enhanced customer experience as customers get the benefit of EMIs instantly and in a fully digital manner. ICICI Bank is the first in the industry to introduce an instant EMI facility on its internet banking platform. The Bank has tied up with BillDesk and Razorpay, leading online payment gateway companies to offer this facility.

2. NABARD arm appointed as trustee for credit guarantee fund by Government: NABARD’s wholly-owned subsidiary NABSanrakshan Trustee Pvt Ltd (NTPL) has been appointed by the government as a trustee for Rs 750 crore Credit Guarantee Fund under Animal Husbandry Infrastructure Development Fund (AHIDF). The government has set up AHIDF with a corpus of Rs 15,000 crore as part of the Aatmanirbhar package. The Credit Guarantee Fund will provide credit guarantees to eligible entities assisted under AHIDF. The fund shall be operationalised under a trust – Credit Guarantee Fund Trust for Animal Husbandry and Dairying.

AWARDS AND HONOURS

1. Asha Bhosle to be honoured with ‘Maharashtra Bhushan’: Legendary singer Asha Bhosle will be honoured with the prestigious Maharashtra Bhushan Award for the year 2020. A committee chaired by Chief Minister Uddhav Thackeray decided to select Ms Bhosle for the award for the year 2020. Ms Bhosle, whose sister Lata Mangeshkar won the award for 1997, said she got to know from Mr Thackeray that she has been selected for the award for 2020. Ms Bhosle received the Dadasaheb Phalke Award for 2000.

About the award: The award, instituted in 1996 by the State government to recognise distinguished work and achievements of eminent persons from the State, representing different walks of life, carries a cash prize of ₹10 lakh and a citation. The first Maharashtra Bhushan awardee was Marathi writer P.L. Deshpande and the last winner of this award was historian Babasaheb Purandare who got it for the year 2015.

Note: Maharashtra Governor: Bhagat Singh Koshyari; Maharashtra Capital: Mumbai; Maharashtra CM: Uddhav Thackeray.

DEFENCE

1. Indian Coast Guard Ship ‘Vajra’ commissioned to the Indian Coast Guard: L&T-built Offshore Patrol Vessel (OPV) ICGS Vajra was commissioned into the Indian Coast Guard (ICG) by General Bipin Rawat, Chief of Defence Staff, at Chennai. ICGS Vajra is the sixth vessel in the series of seven OPVs being built by L&T under a Ministry of Defence contract signed in the year 2015. Like the five OPVs in the series, ICGS Vajra was also delivered ahead of the contractual schedule.

What is an Offshore Patrol Vessel: OPVs are long-range surface ships, capable of operation in maritime zones of India, including island territories with helicopter operation capabilities. Their roles include coastal and offshore patrolling, policing maritime zones of India, control and surveillance, anti-smuggling and anti-piracy operations with limited wartime roles. It can attain a sustained speed of up to 26 knots. The entire design and construction process has been certified by the American Bureau of Shipping as well as the Indian Registrar of Shipping and overseen by the ICG’s resident team at Kattupalli.

Note: Director-General of Indian Coast Guard: Krishnaswamy Natarajan; Indian Coast Guard Headquarters: New Delhi.

Daily GK Update - 26th March, 2021

NATIONAL UPDATES:

1. UP and MP sign agreement with Jal Shakti Ministry for ‘Ken-Betwa Link’ project: On the occasion of World Water Day, the governments of Uttar Pradesh and Madhya Pradesh signed an agreement with the Union Ministry of Jal Shakti to implement the Ken-Betwa river interlinking project. The main purpose of this project is to carry water from surplus regions to drought-prone and water-scarce region through the interlinking of rivers.

Under the project: The surplus water will be transferred from the Ken river in Panna district in Madhya Pradesh to the Betwa river in Uttar Pradesh. The project will benefit the Bundelkhand region of Uttar Pradesh, by resolving the water scarcity and thus bring prosperity to this region. The water will be transferred through the construction of the Dhaudan Dam and a 221 km-long canal. The Ken-Betwa Link Project will provide annual irrigation of 2.51 lakh hectares, 1,700 million cubic meters (mcm) of water to Uttar Pradesh and drinking water supply to about 62 lakh people and also generate 103 MW of hydropower.

Note: Uttar Pradesh Governor: Anandiben Patel; Uttar Pradesh Chief Minister: Yogi Adityanath.

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

2. CJI SA Bobde recommends Justice NV Ramana as his successor: Chief Justice of India (CJI) SA Bobde has recommended Justice NV Ramana’s name as his successor after he retires next month. CJI Bobde is set to retire on 23 April. In a letter to the Law Ministry, CJI SA Bobde recommended Justice Ramana as his successor.  Justice NV Ramana is the most senior judge in the apex court after CJI Bobde. On appointment, Justice NV Ramana will be the 48th Chief Justice of India and he will have a long tenure as CJI for over 16 months.

The Centre had last week asked CJI Bobde to recommend his successor. Union Minister Ravi Shankar Prasad had reportedly sent a letter to Justice Bobde, seeking his recommendation, as is the practice under the Memorandum of Procedure for Appointment of Chief Justice of India. The recommendation letter has to come around a month before the vacancy arises.

3. A book titled ‘My Experiments with Silence’ authored by Samir Soni: The book “My Experiments with Silence” is authored by Samir Soni on anxiety and self -discovery. Soni’s book aims to be a personal account of his dialogues with himself during his growing-up years in Delhi, his stint at Wall Street and his time in Bollywood. The book will be published by OM Books International. Soni said his book will be an “ode to anyone who has fought or is fighting their inner demons”.

 INTERNATIONAL UPDATES:

1. Sri Lanka inks 3 year USD 1.5 billion currency swap deal with China: Sri Lanka has signed a 10 billion yuan (about USD 1,5 billion) currency swap deal with China with the main motive to promote bilateral trade and direct investment between the two countries. The agreement signed between the Central Bank of Sri Lanka and the People’s Bank of China is valid for three years. China remains Sri Lanka’s largest source of imports. In 2020, imports from China amounted to USD 3.6 billion, or just over 22 per cent of Sri Lanka’s imports.

About the agreement: The deal comes as Sri Lanka is undergoing a difficult time with COVID-19, dealing a severe blow to its economy, especially its USD 4.5 billion tourism industry. Sri Lanka also must pay nearly USD 4.5 billion in foreign debts annually until 2025. China considers Sri Lanka to be a critical link in its massive “Belt and Road” global infrastructure-building initiative and has provided billions of dollars in loans for Sri Lankan projects over the past decade. The projects include a seaport, airport, port-city, highways and power stations.

Note: Sri Lanka Capitals: Sri Jayawardenepura Kotte; Currency: Sri Lankan rupee; Sri Lanka Prime Minister: Mahinda Rajapaksa; Sri Lanka President: Gotabaya Rajapaksa.

2. World’s first Ship Tunnel to be built in Norway: The Norwegian Coastal Administration has received the green signal to start working on the construction of the world’s first tunnel, being built exclusively for ships. The tunnel is dubbed as “Stad Ship Tunnel” and would be built under the mountainous Stadhavet peninsula in northwestern Norway.

About the Tunnel: The 1.7 km tunnel will be able to handle ships of up to 16,000 tonnes and give ships a safer passage through the treacherous Stadhavet Sea. The tunnel will be 49 metres (161 ft) high and 36 metres (118 ft) wide. It is estimated to cost at least 2.8 billion Norwegian kroner (NZ$460 million) the construction of this ship tunnel. The construction would begin in 2022 and would take three to four years to complete.

Note: Norway Currency: Norwegian krone; Norway Capital: Oslo; Prime Minister of Norway: Erna Solberg.

3. Indian-American Doctor Vivek Murthy appointed as US Surgeon General: The US Senate has voted, 57-43, to confirm the appointment of Indian-American doctor Vivek Murthy as the Surgeon General under US President Biden’s administration. The 43-year-old Dr Murthy would occupy the position of America’s Surgeon General for the second time. Prior to this, Dr Murthy was appointed as surgeon general under the Obama administration in 2011 but was fired by former President Trump in 2017.

4. India ranks 40th on International Intellectual Property Index: India ranked 40 among 53 global economies on the latest annual edition of the International Intellectual Property (IP) Index released. The US Chamber of Commerce Global Innovation Policy Centre (GIPC), the Index evaluates Intellectual Property rights in 53 global economies from patent and copyright policies to commercialisation of IP assets and ratification of international treaties.

About the International Intellectual Property Index 2021:

(1) The 2021 Index illustrates that economies with the most effective IP frameworks are more likely to achieve the socio-economic benefits needed to combat COVID-19, including greater access to venture capital, increased private sector investment in research and development, and over 10 times more clinical trial activity.

(2) Over the last year, transparent and predictable intellectual property rights have also fostered unprecedented levels of highly successful public-private sector collaborations.

(3) The overall global IP environment improved in 2020, with a positive score increasing in 32 of the 53 economies measured by the IP Index. This is the ninth IP index released by the GIPC.

Note: World Intellectual Property Organization Headquarters: Geneva, Switzerland; World Intellectual Property Organization Founded: 14 July 1967; World Intellectual Property Organization Head: Daren Tang.

 OTHER UPDATES:

 SPORTS

1. ISSF World Cup: India’s Aishwary Pratap Singh Tomar Wins Gold: India’s Aishwary Pratap Singh Tomar won gold in the men’s 50m Rifle 3 Positions event at the ISSF World Cup in New Delhi. The 20-year-old became the youngest in history to win a shooting World Cup gold in the 3 Positions event. The two other Indian shooters in the final, Sanjeev Rajput finishing sixth and Niraj Kumar came at the last position. This was India’s 8th gold medal in the ongoing World Cup. India continues to dominate the medal tally with 15 so far. India has won three silver medals and four bronze to go with the eight gold medals.

Note: International Shooting Sport Federation Headquarters: Munich, Germany; International Shooting Sport Federation President: Vladimir Lisin; International Shooting Sport Federation Founded: 1907.

BANKING AND FINANCE

1. Indian Overseas Bank launches ‘IOB Trendy’ savings account: Indian Overseas Bank (IOB) has launched ‘IOB Trendy’, a savings account customised for the growing millennial population in the country by keeping their banking preferences in mind. IOB Trendy is a Savings Bank Account Scheme introduced by the bank towards this endeavour. About the IOB Trendy account:

(1) For opening an IOB Trendy account, a customer needs to be within the age bracket of 21 – 38 years.

(2) The account may be self or jointly operated. In the case of a joint account, the primary holder has to be a millennial at the time of account opening.

(3) There is no ‘Opening Balance’ requirement for IOB Trendy. So, no charges will be levied for the first month for non-maintenance of balance.

(4) However, IOB Trendy customers need to maintain a daily minimum balance of ₹10,000 or a daily minimum balance of ₹5,000 and a digital turnover (transactions using IOB ATM / CDM / IOB Mobile Banking or Internet Banking fund transfer / IOB UPI transactions or IOB Debit card POS transactions) of a minimum of ₹20,000 per month.

(5) The millennial-focused account also offers features like an online application submission facility, free personalised accident (death) insurance cover of ₹5 lakh if the quarterly average balance is ₹1 lakh and above, auto-sweep facility when the balance exceeds ₹50,000 among others.

Note: Indian Overseas Bank CEO: Partha Pratim Sengupta; Indian Overseas Bank Headquarters: Chennai; Indian Overseas Bank Founded: 10 February 1937, Chennai.

 BUSINESS AND ECONOMY

1. Fitch Ratings Projects India’s GDP to 12.8% for FY22: American credit rating agency, Fitch has revised India’s GDP growth estimate for the fiscal 2021-22 to 12.8%, from its previous estimate of 11%, in its latest Global Economic Outlook (GEO). The improvement in GDP rate is based on factors like a stronger carryover effect, a looser fiscal stance, and better virus containment. Also, for the fiscal year 2022-23, Fitch expects GDP growth at 5.8%.

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

AWARDS AND HONOURS

1. ESAF Small Finance Bank Awarded With ‘Great Place To Work’ Certification: ESAF Small Finance Bank had been awarded ‘Great place to work’ certification by the Great place to Work Institute. The certification is the result of an employee survey conducted by the third-party global authority on recognising high-trust and performance culture at workplaces. This recognition acknowledges the bank’s commitment and credibility amongst its employees.

Note: ESAF Small Finance Bank MD & CEO: K Paul Thomas; ESAF Small Finance Bank HQ: Thrissur, Kerala.

2. Hindi Writer Prof. Sharad Pagare Selected for Vyas Samman 2020: Well-known Hindi writer, Prof. Sharad Pagare will be conferred with the prestigious Vyas Samman – 2020. He will be awarded the 31st Vyas Samman for his novel “Patliputru Ki Samragi”. The Vyas Samman started in 1991, is given by KK Birla Foundation for an outstanding literary work in Hindi authored by an Indian citizen published during the last 10 years. It carries an award of four lakh rupees along with a citation and plaque.

 DEFENCE

1. MoD signs Rs 1,056 crore contract with MDSL to supply 1,300 Light Specialist Vehicles to Indian Army: The Ministry of Defence (MoD) has signed a contract with Mahindra Defence Systems Ltd (MDSL) on March 22, 2021, to procure 1,300 Light Specialist Vehicles (LSV) for the Indian Army. The total cost of the deal is Rs 1,056 crore and the induction of the vehicles into the Army would be completed in four years. The Mahindra Defence LSV is the only vehicle that passed all the field, ballistics, and technical trials, carried out by the Indian Army in different terrains including high altitude, deserts, and plains LSV is a modern fighting vehicle indigenously designed and developed by MDSL.

 OBITUARIES

 1. Acclaimed Polish Poet Adam Zagajewski passes away: Renowned Polish poet Adam Zagajewski has passed away. He was a leading figure in Poland’s new wave or Generation ’68, a literary movement of the late 1960s that called for a simple language to relate directly to reality. Zagajewski’s “Try to Praise the Mutilated World,” was translated into English by Clare Cavanaugh and published in The New Yorker.