Daily GK Update- 30th Oct, 2021

 

aNATIONAL UPDATES:

 

1. R K Singh launches the Green Day Ahead Market (GDAM): The Union Minister of Power & New and Renewable Energy, R K Singh has launched a new market segment, “Green Day Ahead Market (GDAM)”. This makes India as the only large electricity market in the world to implement a GDAM exclusively for renewable energy. The launch of the green day-ahead market will deepen the green market and will provide competitive price signals, besides offering an opportunity to market participants to trade in green energy, in the most transparent, flexible, competitive, and efficient manner. About the initiative:

(1) The new initiative will open the renewable energy sector to enable anyone to set up the capacity and sell it to distribution companies and industries.

(2) Meanwhile, the electricity generation and distribution companies will be able to buy or sell renewable energy through open access.

(3) The market-based competitive prices will provide another option to renewable generators to sell power as well as accelerate the renewable capacity addition towards the government’s vision of building India as a sustainable and efficient energy economy.

 

2. Gujarat CM Bhupendra Patel launched ‘Go Green’ Scheme: Gujarat Chief Minister Bhupendra Patel has launched the ‘Go-Green’ scheme & its Portal to provide electric two-wheelers at subsidised rates to construction and industrial workers of the state. The scheme is aimed at reducing fuel bills and also curbing vehicular pollution. The organised sector workers, such as an industrial labourer, would get a subsidy of 30 per cent on the vehicle’s price or Rs. 30,000, whichever is less, on the purchase of battery-powered two-wheelers. For construction sector workers, 50 per cent subsidy or Rs. 30,000, whichever is less on the purchase of battery-powered two-wheelers.

Note: Gujarat Capital: Gandhinagar; Gujarat Governor: Acharya Devvrat; Gujarat Chief minister: Bhupendrabhai Patel.

 

3. MSME Ministry launches “SAMBHAV” National Level Awareness Programme: The Ministry of Micro, Small & Medium Enterprises (MSME) has launched an e-National Level Awareness Programme ‘SAMBHAV”, to promote engagement of the youth in promoting entrepreneurship. The e-National Level Awareness Programme 2021 ‘SAMBHAV” was launched by Union Minister of MSME Narayan Rane in New Delhi. About the campaign:

(1) The mass outreach program will be a one-month long initiative under the Ministry of MSME in which students from different colleges/ITIs from all parts of the country will be encouraged by 130 field offices of the Ministry to take up entrepreneurship.

(2) During the campaign, the college students will be made aware of the various schemes being implemented by the Ministry of MSME through Audio/Video film presentations.

(3) Awareness programs will be conducted in more than 1,300 colleges across the country in which 1,50,000 students are expected to participate.

 

4. Ramesh Pokhriyal gifted his book ‘AIIMS Mein Ek Jang Ladte Hue’ to PM Modi: The former Union Minister of Education Ramesh Pokhriyal ‘Nishank’ has gifted a copy of his book titled ‘AIIMS Mein Ek Jang Ladte Hue’ to Prime Minister (PM) Narendra Modi in Delhi. The book was written by Pokhriyal while he was battling COVID-19 at AIIMS in Delhi. The book was published by Prabhat Prakashan Pvt. Ltd.

 

INTERNATIONAL UPDATES:

 

1. PM Modi attend 16th East Asia Summit virtually: Prime Minister Narendra Modi has participated in the 16th East Asia Summit (EAS) through a video conference on October 27, 2021, during which he re-affirmed India’s focus on a free, open and inclusive Indo-Pacific and the principle of ASEAN Centrality in the region. The 16th EAS was hosted under the Chairmanship of Brunei. This was the 7th East Asia Summit for Prime Minister Modi.

About the Summit:

(1) The Summit ended with the adoption of three Statements by EAS leaders, which includes, Mental Health, Economic recovery through Tourism and Sustainable Recovery.

(2) Established in 2005, the East Asia Summit is the premier leader-led forum in the Asia-Pacific region to deal with issues relating to security and defence for the strategic, geopolitical and economic evolution of East Asia.

(3) The members of EAS includes 10 ASEAN member states, and India, China, Japan, the Republic of Korea, Australia, New Zealand, the United States and Russia.

 

2. Indo-Pacific Regional Dialogue commences: Indo-Pacific Regional Dialogue (IPRD) 2021 is being organized as a three-day online event on 27, 28 and 29 October 2021. IPRD 2021 will focus on the theme ‘Evolution in Maritime Strategy during the 21st Century: Imperatives, Challenges and Way Ahead’. It will focus on eight specific sub-themes.

About the Indo-Pacific Regional Dialogue:

(1) The National Maritime Foundation is the Indian Navy’s knowledge partner for IPRD 2021. It is also the Indian Navy’s chief organiser for IPRD 2021.

(2) Indo-Pacific Regional Dialogue (IPRD) is the apex international annual conference of the Indian Navy. It was first conducted in 2018.

(3) IPRD aims to review both opportunities and challenges that arise within the Indo-Pacific.

 

3. Shavkat Mirziyoyev re-elected as President of Uzbekistan: Shavkat Mirziyoyev, the incumbent President of Uzbekistan has won a 2nd five-year term as the President of Uzbekistan. He is a member of the UzLiDeP (Uzbekistan Liberal Democratic Party). Shavkat Mirziyoyev took office in 2016 following the death of Islam Karimov, the first post-independence president of Uzbekistan.

Note: Uzbekistan Capital: Tashkent; Uzbekistan Currency: Uzbekistani som; Uzbekistan Prime Minister: Abdulla Aripov.

 

4. France launched Military Communications Satellite “Syracuse 4A”: France has successfully launched a state-of-the-art satellite namely ‘Syracuse 4A’ into orbit which was carried off by Ariane 5 rocket from Kourou, in French Guiana. It is designed to allow France’s armed forces across the globe to communicate swiftly and securely. The satellite can survey its close surroundings and move itself to escape an attack.

Syracuse IV produces a throughput three times higher (1.5 Gbit/sec) than Syracuse III by operating in two bands: X and Ka. Three satellites are to be placed in orbit: the second in 2022 and the third on an unknown date. The total cost of the Syracuse IV programme is EUR3.6 billion (nearly USD4.2 billion). Syracuse IV is the first French military satellite with the ability to detect other satellites that are trying to gather information from it or to destroy it.

Note: France Capital: Paris; France Currency: Euro; France Prime Minister: Jean Castex.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Kotak Mahindra Bank tied up with IndiGo to launch ‘Ka-ching’ Credit Card: IndiGo and Kotak Mahindra Bank (KMB) entered into a strategic partnership for the launch of a co-branded credit card named ‘Ka-ching’. The credit card was launched under IndiGo’s 6E Rewards programme and linked with it to enable the members to earn rewards by using the card on IndiGo and other merchants. The co-branded card will be available in 2 variants such as 6E Rewards and 6E Rewards XL by offering exclusive travel benefits for domestic and international travel.

Note: Kotak Mahindra Bank Founded: 2003; Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra; Kotak Mahindra Bank MD & CEO: Uday Kotak; Kotak Mahindra Bank Tagline: Let’s make money simple.

 

2. HDFC Ltd and India Post Payments Bank partnered to Offer Home Loans: HDFC Ltd and India Post Payments Bank (IPPB) made a strategic partnership to offer HDFC Ltd’s home loans to 4.7 crore customers of IPPB through its wide network of 650 branches and over 1.36 lakh banking access points. The partnership helps to promote affordable housing in the remotest locations of India. Under the partnership, IPPB will offer home loans for customers in unbanked and underserved areas through nearly 1,90,000 banking service providers including postmen and Gramin Dak Sevaks.

Note: MD and CEO of India Post Payments Bank (IPPB): J Venkatramu; India Post Payments Bank (IPPB) was incorporated as Payments Banking Company under Section 22 (1) of the Banking Regulation Act, 1949; India Post Payments Bank (IPPB) Headquarters: New Delhi.

 

BUSINESS AND ECONOMY

 

1. FloBiz Neobank signed Manoj Bajpayee as Brand Ambassador: FloBiz, a neobank for Indian Small to Medium-sized Businesses (SMBs), announced Padma Shri Awardee actor Manoj Bajpayee as the brand ambassador for its flagship product. He will promote the ‘’Business Ko Le Seriously’’ campaign to mark the importance of digital solutions. He has signed to accelerate myBillBook’s outreach to the SMB sector and promote the adoption of myBillBook– a simple to use GST (Good & Services Tax) billing and accounting software.

 

DEFENCE

 

1. Rajnath Singh chairs Ambassadors’ Round Table for DefExpo 2022: In a major outreach to the friendly foreign countries as also to the defence manufacturing industries of the world, Raksha Mantri, Rajnath Singh has chaired the Ambassadors’ Round Table for Def Expo 2022, in New Delhi. DefExpo 2022 will be Asia’s largest defence exhibition. The Round Table was aimed to brief the Ambassadors of foreign missions about the planning, arrangements and other details of DefExpo 2022, which will be held in Gandhinagar, Gujarat between March 10-13, 2022.

More than 200 delegates, including Ambassadors, Heads of Missions and Defence Attaches attended the Round Table, reflecting the growing global interest in the Indian Defence space. Chief of Defence Staff General Bipin Rawat, Chief of Air Staff Air Chief Marshal VR Chaudhari, Secretary (Defence Production) Shri Raj Kumar and other senior officials of the Ministry of Defence & Government of Gujarat were also present.

 

2. India successfully test-fires “Agni-5” ballistic missile: The Defence Research and Development Organisation (DRDO) carried successful test-firing of surface-to-surface ballistic missile Agni-5 on October 27, 2021, from APJ Abdul Kalam Island in Odisha. Agni-5 is a nuclear-capable intercontinental ballistic missile (ICBM), which uses a three-stage solid-fuelled engine. The missile can strike targets at ranges up to 5,000 km with a very high degree of accuracy.

The indigenously-developed surface-to-surface missile, Agni-5, is capable of striking a target more than 5,000 km. It is about 17-metre long, 2-metre wide and has a launch weight of around 50 tonnes. The missile can carry a nuclear warhead of more than one tonne. The successful test of Agni-5 is in line with India’s stated policy to have ‘credible minimum deterrence’ that underpins the commitment to ‘No First Use’.