Daily GK Update- 12th July, 2021

 

NATIONAL UPDATES:

 

1. Govt creates ministry of cooperation to boost cooperative movement: The government has created a Ministry of Cooperation to boost the Indian cooperative movement and give a fillip to the indigenous enterprises. India’s first minister of cooperation will also be sworn in once the Union Cabinet reshuffle takes place and the new ministers take the oath of office at the Durbar Hall in President House. The new ministry of Cooperation will work to realise the vision of “Sahkar se Samriddhi” and will provide a separate administrative, legal and policy framework to boost the cooperative movement in the country.The development will aid the deeping of the cooperatives as true people-based movements with benefits going down to the grassroots. The ministry will be mandated to streamline the processes for the ease of doing business for cooperatives and ultimately aim to broaden and strengthen the multi-state cooperatives.

 

2. DPIIT sets up 9-member panel to curb Digital Monopolies: The Central Government has formed a nine-member panel for the development of an Open Network for Digital Commerce (ONDC), designed to curb digital monopolies. This ONDC project is initiated by the Department of Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry and will be implemented by the Quality Council of India (QCI). The nine-member committee of ONDC will advise the Government of India on measures needed to digitise the entire value chain, standardise operations, promote inclusion of suppliers, derive efficiencies in logistics and enhance value for consumers, among other things.

Members of the panel include:

NandanNilekani, non-executive Chairman Infosys;

RS Sharma, CEO of National Health Authority;

AdilZainulbhai, Chairman of QCI;

Anjali Bansal, Founder and Chairperson of Avaana Capital;

Arvind Gupta, Co-founder and head of Digital India Foundation;

DilipAsbe, MD & CEO of National Payments Corporation of India;

Suresh Sethi, MD and CEO of NSDL e-Governance Infrastructure Ltd;

Praveen Khandelwal, General Secretary of Confederation of All India Traders;

Kumar Rajagopalan, CEO of the Retailers Association of India.

 

3. Tourism Ministry signs MoU with Yatra to strengthen hospitality, tourism industry: The tourism ministry signed a Memorandum of Understanding (MoU) with Yatra to strengthen and enable the tourism and hospitality industry. The event was organised under an arrangement between the Ministry of Tourism and the Quality Council of India (QCI), where the MoU for the Tourism Ministry Yatra tie-up was signed.Under the MoU:

(1) While the MoU is meant to mainly strengthen tourism, it also takes into consideration and provides support for accommodation units.

(2) The MoU outlines that both parties signing the document would participate in encourage the accommodation units to self-certify themselves on the System for Assessment, Awareness & Training for the Hospitality Industry (SAATHI) on the Online Travel Agency Platform (OTA).

(3) Earlier this year, the Ministry of Tourism had also signed an MoU with ClearTrip and Ease My Trip. There has been an ongoing effort by the ministry to strengthen the tourism sector in India while extending support to accommodation units.

(4) The accommodation units registered on NIDHI and SAATHI on the OTA platform are to be provided extended visibility with the signing of this MoU. SAATHI is an initiative by the Ministry of Tourism in partnership with the Quality Council of India.

Note: Minister of State (IC) of Ministry of Tourism: Prahlad Singh Patel.

 

4. NABARD sanctions Rs 388 crore for drinking water, road projects in Odisha: NABARD has sanctioned an assistance of Rs 388 crore for Odisha under the Rural Infrastructure Development Fund (RIDF) for setting up four mega piped drinking water supply projects. The sanctioned amount would also be used for construction or up-gradation of 20 village roads across 15 districts in the state, an official statement said. The four mega projects will come up in Koraput district (covering Boipariguda block), Balasore district (covering Nilgiri block), and Malkangiri district (covering Malkangiri and Kalimela blocks).

 

5. Indian Army names firing range after VidyaBalan: The Indian Army has named one of its firing ranges in Kashmir after Bollywood actress VidyaBalan. The VidyaBalan firing range is situated at Gulmarg in the Baramulla district of Jammu & Kashmir. The decision was taken in recognition of her contribution to Indian cinema. Earlier in the year, the actress and her husband Siddharth Roy Kapoor had attended the Gulmarg Winter Festival organised by the Indian Army.

 

INTERNATIONALUPDATES:

 

1. World’s first 3D-printed school opens in Africa: Leveraging technology to tackle the shortage of schools in the continent, African affordable housing venture called 14Trees has erected the world’s first 3D-printed school in the country of Malawi. The design provides space that students in the region did not have privelege to with facilities for teaching and learning both inside and outside of the classroom. The school was built from scratch in the Salima district of Malawi. It took 18 hours to erect the walls. The 3D-printed school was then relocated to a village community in the Yambe zone.

 

2. China launches new Fengyun-3E meteorological satellite: China has launched the new Fengyun-3E (FY-3E) meteorological satellite from the SLS-2 launch site at China’s Jiuquan Satellite Launch Centre. The satellite is launched onboard the Long March-4C carrier rocket, which placed it into its planned orbit. Equipped with 11 remote sensing payloads, the FY-3E is part of the Fengyun-3 series of meteorological satellites. The FY-3E is the fifth in the series and the third operational satellite. The satellite is designed to serve for eight years. It will provide atmospheric temperature, humidity, and other meteorological related parameters, which will contribute to China’s weather forecast capacity.

 

3. World Malala Day: 12th July: The United Nations has declared 12th July as World Malala Day to honour the young activist, Malala Yousafzai. Malala Day is commemorated, the birthday of Malala Yousafzai to honour women and children’s rights around the world. On October 9, 2012, Malala was shot in the head by Taliban gunmen after she publicly advocated for the education of girls. Despite the attack, Malala soon returned to the public eye, fiercer in her views than earlier and continued her advocacy for gender rights. She founded the Malala Fund, a non-profit organisation to help young girls go to school and also co-authored a book titled “I Am Malala”, an international bestseller.

 

OTHER UPDATES:

 

SPORTS

 

1. Mumbai, Pune to host 2022 women’s Asian Cup: Women’s Asian Cup in India will be held in Mumbai and Pune after the Asian Football Confederation dropped Bhubaneswar and Ahemdabad as venues to minimise the travelling time for participants and ensure an “optimum environment” for a bio-secure bubble. The Mumbai Football Arena at the Andheri Sports Complex and the Shiv Chhatrapati Sports Complex in Balewadi, Pune have been chosen as the new venues. The decision was taken after considering the existing challenges caused by the COVID-19 pandemic and as part of efforts to minimise the travelling time for teams and officials between the venues, whilst ensuring the optimum environment to implement the biomedical bubble for the benefit of all stakeholders.

 

2. Nihal Sarin wins Silver Lake Open chess tournament: Nihal Sarin won the Silver Lake Open chess tournament in Serbia. The third-seeded Indian came on top of the field with eight points from nine rounds. In the final round, he defeated BrankoDamljanovic of the host. The second and third places were also taken by Indians, as RaunakSadhwani and Abhimanyu Puranik scored seven points each.

 

BANKING AND FINANCE

 

1. RBI issues instructions for appointment of MD/WTD in Urban Co-operative Banks: The Reserve Bank of India (RBI) issued a notification harmonising the rules for appointment of urban co-operative banks’ (UCB) chiefs and whole-time directors (WTDs) with those of private banks. 

(1) The tenure of the managing director (MD)/ WTD shall not be for a period more than five years at a time subject to a minimum period of three years at the time of first appointment, unless terminated or removed earlier, and shall be eligible for re-appointment. Also, the post of the MD or WTD cannot be held by the same incumbent for more than 15 years, the RBI said.

(2) Chiefs of public sector banks are typically appointed by the government for a term of three years or until the appointee reaches the age of 60, whichever occurs first. Private bank MD-CEOs are appointed by their respective boards, subject to approval by the RBI, and can hold the post till the age of 70.

(3) The person shall not be below the age of 35 years and above the age of 70 years at any time during his/ her term in office. However, within the overall limit of 70 years, as part of their internal policy, individual bank’s Boards are free to prescribe a lower retirement age.

 

BUSINESS AND ECONOMY

 

1. Paytm launches ‘Postpaid Mini’ to provide small-ticket instant loans: Paytm has announced the launch of Postpaid Mini, small-ticket loans that will give users the flexibility to access loans ranging from Rs 250 – Rs 1,000, in partnership with Aditya Birla Finance Ltd. The product is an extension of its Buy Now, Pay Later service, driving affordability amongst those new to credit. These small ticket instant loans will give flexibility to users and also help manage their household expenses to maintain liquidity during the ongoing Coronavirus (Covid-19) pandemic.

With this service: Paytm Postpaid is offering a period of up to 30 days for repayment of loans at 0 per cent interest. There are no annual fees or activation charges, only a minimal convenience fee. With the launch of Postpaid Mini, the company will offer access to loans ranging from Rs 250 to Rs 1000, in addition to PaytmPostpaid’s instant credit of up to Rs 60,000. This could help users pay for their monthly expenses, including mobile and direct to home (DTH) recharges, gas cylinder booking, electricity and water bills, shop on Paytm Mall and more.

Note: Paytm HQ: Noida, Uttar Pradesh; Paytm Founder & CEO: Vijay Shekhar Sharma; Paytm Founded: 2009.

 

2. Jim Whitehurst resigns as IBM president: Jim Whitehurst has announced he is stepping down as the president of IBM. Whitehurst’s resignation is being seen as one of the several management moves IBM announced. The 53-year-old’s exit led to shares of the technological giant falling 4.8 per cent to $139.83, the most in five months. Whitehurst was appointed as IBM’s president last year. This was the first time in decades that the corporation split up the designation of a chief executive officer (CEO) and president.

Note: IBM CEO: Arvind Krishna; IBM Headquarters: Armonk, New York, United States.

 

AWARDS AND HONOURS

 

1. Kaushik Basu awarded prestigious Humboldt Research Award: Indian economist Kaushik Basu has been awarded the Humboldt Research Award for Economics. The award was conferred on him by Professor Dr Hans-Bernd Schäfer of Bucerius Law School in Hamburg, Germany. A former chief economist of the World Bank, Basu is currently a professor of Economics at Cornell University. He also served as the Government of India’s chief economic advisor from 2009 to 2012. Basu is also a recipient of the Padma Bhushan, the third-highest civilian award in India.

What is Humboldt Research Award: The prestigious award is sponsored by the Alexander von Humboldt Foundation and awarded to as many as 100 recipients each year. The Humboldt Research Award honours scientists and economists from across the world for their work. The award entails prize money of 60,000 euros and an offer to carry out research projects at a scientific institution in Germany for up to 12 months.

 

DEFENCE

 

1. Indian Army Inaugurates War Memorial of CaptGurjinder Singh Suri: On the occasion of the birthday of Captain Gurjinder Singh Suri, who died during the operation “Birsa Munda” in 1999, the Indian Army inaugurated a war memorial in memory of Captain in Gulmarg near the Line of Control (LOC). Lieutenant Colonel (Col), Tej Prakash Singh Suri (Retd), father of Captain Gurjinder Singh Suri, MVC (Posthumous) was also present on the occasion. Gurjinder Singh Suri was later awarded MahaVir Chakra (Posthumous).

About the Operation Birsa Munda: Operation Birsa Munda was a punitive raid conducted against a Pakistani post by a Bihar battalion of the Indian Army, in the month of November 1999. This was the time when Operation Vijay had drawn to a close, but the Line of Control was still active with sporadic incidents of Trans Line of Control violence. In a swift and meticulously planned operation, the entire Pakistani post was destroyed, killing 17 Pakistani soldiers.

 

OBITUARIES

 

1. Olympic gold-winning hockey legend KeshavDatt passes away: Two-time Olympic gold medallist in hockey, KeshavDatt passed away. He was part of India’s historic feat at the 1948 Olympics where they beat home team Britain 4-0 at the Wembley Stadium in London to win the first gold post-Independence. Before the 1948 Olympics, Datt had toured East Africa under the leadership of hockey wizard Major Dhyan Chand in 1947. An integral part of the Indian team, Datt also captained the Mohun Bagan hockey squad from 1951-1953 and again in 1957-1958.