NATIONAL UPDATES:
1. India’s
first maritime arbitration centre to be set up in Gandhinagar: The Gujarat
Maritime University has signed a Memorandum of Understanding (MoU) with the
International Financial Services Centres Authority (IFSCA) in GIFT City to set
up the Gujarat International Maritime Arbitration Centre (GIMAC). GIMAC will be
the first of its kind centre in India to manage arbitration and mediation
proceedings for disputes related to the maritime and shipping sector. It will
be part of a maritime cluster that is being set up by the Gujarat Maritime
Board (GMB) at GIFT City in Gandhinagar.There are over 35 arbitration centres
in India. However, none of them exclusively deals with the maritime sector. The
arbitration involving Indian players is now heard at the Singapore Arbitration
Centre. The idea is to create a world-class arbitration centre focused on
maritime and shipping disputes that can help resolve commercial and financial
conflicts between entities having operations in India.
Note: Gujarat Chief Minister: Vijay
Rupani;Gujarat Governor: Acharya Devvrat.
2. Kerala
govt. to have its own OTT platform: Kerala government has proposed to have its
own over-the-top (OTT) platform. The state government has planned to launch it
by November 1. The State government’s proposed foray into the online content
streaming space with the launch of an over-the-top (OTT) platform is a cultural
intervention, rather than something prompted by the market or revenues.
Why Kerala will launch a new OTT
platform?
(1) OTT players like Netflix and Amazon
have been showing more interest in Malayalam cinema. But they are mostly
limited to films from which they can get revenue.
(2) In the last one year, less than 15
Malayalam films, featuring big stars, have been taken up these platforms.
(3) Furthermore, smaller & home-grown
OTT platforms such as Neestream and Mainstream TV do not have much of finance
to match bigger players.
(4) Thus, the state government proposed
this OTT platform which will ensure space and make some sort of revenue share
for lower budget & independent films that are struggling to find space
among the public.
3. GoI
sets up 25-member development council for cement industry: The central
government has set up a 25-member development council for the cement industry
under Dalmia Bharat Group CMD, PuneetDalmia. The council will suggest ways to eliminate
waste, obtain maximum production, improve quality, reduce costs and promote
standardization of products.Dalmia is the chairman of the council. Its members
include Shree Cement Ltd MD HM Bangur, The India Cements Ltd Executive
President Rakesh Singh; Birla Corporation Limited CEO PrachetaMajumdar; J.K.
Cement Ltd Deputy Managing Director MadhavkrishnaSinghania, and JSW Cement Ltd
CEO NileshNarwekar.
According to an order:
(1) The functions of the council include
recommending measures for securing the full utilization of the installed
capacity and for improving the working of the industry, particularly of the
less efficient units; promote the training of persons; and promoting or
undertaking scientific and industrial research.
(2) It would also work for standardization
of accounting and costing methods and practice; and promoting the adoption of
measures for increasing the productivity of labour, including measures for
securing safer and better working conditions.
(3) The council’s functions also include
promoting or undertaking inquiry as to materials and equipment and as to
methods of production, management and labour utilization, including the
discovery and development of new materials, equipment and methods.
4. Kareena
Kapoor introduces a book “The Pregnancy Bible”: Kareena Kapoor Khan
has announced her new book titled Kareena Kapoor Khan’s Pregnancy Bible. The
actor has also called it her ‘third child. She shared her experience while
writing the book. She was seen wearing a red slip dress as she kept her hair
loose parting it in the middle. She was seen bare feet standing near the
kitchen countertop.
5. National
Film Archive of India adds Aamir Khan’s ‘PK’ to its collection: National Film
Archive of India (NFAI) has announced a significant addition of the original
camera negative of RajkumarHirani’s 2014 film ‘PK’ in its collection. The
filmmaker handed the negatives over to Director NFAI, Prakash Magdum, in
Mumbai. The National Film Archive of India was established as a media unit of
the Ministry of Information and Broadcasting in 1964.
INTERNATIONALUPDATES:
1. Nirmala
Sitharaman attends 3rd G20 finance ministers meeting: Union Minister for
Finance & Corporate Affairs, Nirmala Sitharaman participated virtually in
the Third G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting
under the Italian Presidency. The two-day meeting saw discussions on a wide
range of issues including global economic risks and health challenges, policies
for recovery from the CoVID-19 pandemic, international taxation, sustainable
finance and financial sector issues.
The G20 Finance Ministers and Central Bank
Governors reaffirmed their resolve to use all available policy tools for as
long as required to address the adverse consequences of COVID-19. Smt.
Sitharaman appreciated the Italian G20 Presidency for identifying three
catalysts of resilient economic recovery from the pandemic as being
Digitalization, Climate Action and Sustainable Infrastructure and shared the
Indian experience of integrating technology with inclusive service delivery
during the pandemic.
2. NewsOnAir
Radio Live-stream Global Rankings: NewsOnAir Radio Live-stream Global Rankings
was released recently ranking countries where All India Radio (AIR)
live-streams on the NewsOnAir app are most popular. In the latest Rankings of
top countries in the world (excluding India) where All India Radio Live-streams
on NewsOnAir App are most popular, Fiji has jumped from 5th position to 2nd,
while Saudi Arabia has made a comeback in the top 10. Kuwait and Germany are
new entrants, while France and New Zealand are no more in the top 10. The
United States continues to be number 1.
NewsOnAir Top Countries (Rest of world)
Rank Country
1 United
States
2 Fiji
3 Australia
4 United
Kingdom
5 Canada
6 United
Arab Emirates
7 Singapore
8 Kuwait
9 Saudi
Arabia
10 Germany
OTHER UPDATES:
SPORTS
1. BCCI
forms 7-member working group for domestic cricket: The Board of
Control for Cricket in India (BCCI) has formed a seven-member working group, to
look into the compensation package for the domestic players and the other
aspects of domestic cricket. The main focus of the group will be the
remuneration of domestic players for the previous season wherein tournaments were
cancelled, due to COVID-19.The group will have the following membes:
Rohan Jaitley (North Zone)
Yudhvir Singh (Central Zone)
Jaydev Shah (West Zone)
DevajitSaikia (North-East Zone)
AvishekDalmiya (East Zone)
Santosh Menon (South Zone)
Mohammed Azharuddin (South Zone).
2. Argentina
beats Brazil to Lift Copa America 2021: Lionel Messi-led Argentina beat Neymar’s
Brazil 1-0 to win the Copa America final match, held at the Maracana Stadium in
Rio de Janeiro. With this win, Lionel Messi has secured his first major
international trophy. The 2021 Copa America was the 47th edition of the annual
international men’s football championship organised by South America’s football
ruling body CONMEBOL.Earlier the tournament was scheduled to be held in July
2020 but was postponed due to the COVID-19 pandemic. It was the first time
since 1991 that no guest nation took part in the tournament.
3. Samir
Banerjee wins Wimbledon Junior Men’s title: Indian-American Samir Banerjee has
won the Wimbledon Junior Men`s title at Number 1 Court. He defeated Victor
Lilov of America by 7-5, 6-3 in the Junior Men`s finals to lift the trophy at
All England Club. For the first time since 2014, and only the second time since
1977, there was an all-American conclusion to the boys` singles event. Notably,
both 17-year-olds were unseeded for The Championships.
BANKING AND FINANCE
1. RBI
imposes monetary penalty on 14 banks for non-compliance: The RBI has imposed
penalties on SBI, Bank of Baroda, IndusInd Bank, Bandhan Bank and 10 other
lenders for contravention of various regulatory norms, including on lending to
NBFCs. The penalty imposed on the 14 banks totals Rs 14.5 crore, with a maximum
Rs 2 crore fine on Bank of Baroda.The central bank imposed Rs 2 crore penalty on
the Bank of Baroda, Rs 1 crore each on 12 other banks and Rs 50 lakh on the
State Bank of India. RBI imposed Rs 1 crore penalty each on Bandhan Bank, Bank
of Maharashtra, Central Bank of India, Credit Suisse AG, Indian Bank, IndusInd
Bank, Karnataka Bank, KarurVysya Bank, Punjab and Sind Bank, South Indian Bank,
The Jammu & Kashmir Bank and Utkarsh Small Finance Bank.
Note: RBI 25th Governor: Shaktikant Das;
Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.
2. Federal
Bank gets RBI nod to re-appoint Shyam Srinivasan as MD & CEO: Federal Bank
shareholders have approved the motion to re-appoint Shyam Srinivasan as the
Managing Director and Chief Executive Officer of the lender for a period of
three years. His reappointment will come into effect from September 23, 2021,
to September 22, 2024. Srinivasan took over as Federal Bank MD & CEO in
2010 and has been at the helm since then.
Srinivasan is among the few foreign bankers
who chose to move to smaller Indian banks after fairly long, successful stints
in foreign banks (the others include RBL Bank’s Vishwavir Ahuja and DCB Bank’s
MuraliNatrajan). Over the last decade, Srinivasan has been at the helm of
Federal, the bank has transformed into a mid-sized private bank with a strong
focus on retail business, including gold loans and funding small and medium
entrepreneurs.
Note: Federal Bank Headquarters: Aluva,
Kerala;Federal Bank Founder: K.P Hormis;Federal Bank Founded: 23 April 1931.
BUSINESS AND ECONOMY
1. Facebook
launches newsletter platform “Bulletin”: Facebook has announced a set of
publishing and subscription tools named Bulletin, aimed to promote independent
writers in the US. The bulletin will include support focused on the creation of
content, monetisation and audience growth. It also aims to integrate its
existing tools to support writing and audio content — from podcasts to Live
Audio Rooms in one place.Facebook is pushing to compete in the fast-growing
email newsletter trend, as high-profile journalists and writers have left media
companies over the past year to strike out on their own.
Note: Facebook Founded: February
2004;Facebook CEO: Mark Zuckerberg;Facebook Headquarters: California, United
States.
1. Zaila
Avant-garde Wins 2021 Scripps National Spelling Bee: Zaila Avant-garde,
an African-American, from New Orleans in Louisiana, has won the 2021 Scripps
National Spelling Bee. The 14-year-old Avant-garde, who is also an accomplished
basketball player, is the first African-American contestant to win the
prestigious competition in its 93 years history. The 8th-grader Avant-garde
correctly spelt “Murraya”, a genus of tropical Asiatic and Australian trees
having pinnate leaves and flowers, to win a USD 50,000 prize.Zaila is also the
first Black contestant to win since Jody-Anne Maxwell of Jamaica in 1998.
12-year-old Indian-origin Chaitra Thummala, from San Francisco and 13-year-old
Indian-origin BhavanaMadini, from New York, won second and third place
respectively.
About the Award:Scripps National
Spelling Bee is an annual spelling bee held in the United States, for children
of South Asian descent, to help students improve their spelling, increase their
vocabularies, learn concepts and develop correct English usage that will help
them all their lives.
OBITUARIES
1. Ayurveda Medicine Doyen, Dr P K Warrier passes away: Veteran Indian Ayurveda practitioner, Dr P.K. Warrier, who was the most respected name in Ayurveda across the world, has passed away. He was 100. He was the chief Physician and Managing trustee of Arya Vaidya Sala, a healthcare centre located in Kottakkal, Kerala, and known for its heritage and expertise in Ayurveda.The doyen of Ayurveda, DrWarrier, was honoured with the Padma Shree in 1999 and Padma Bhushan in 2010. His autobiography titled Smrithiparvam won the Kerala Sahitya Academy Award in 2009.
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