NATIONAL UPDATES:
1.
ADB approved a USD 350 million loan to improve India’s urban services: Asian Development
Bank (ADB) has approved a Rs 2653.05 crore (USD 350 million) policy-based loan
to improve urban services in India. This loan supports the policies formulated
by the Ministry of Housing and Urban Affairs (MoHUA) to benefit the urban poor,
economically weaker sections, and low-income groups. ADB will also provide
knowledge and advisory support to MoHUA in program implementation, monitoring
and evaluation. The loan supports the policies established by the Ministry of
Housing and Urban Affairs to accelerate universal coverage of piped water
supply and improved sanitation. This is part of the recently launched national
programme Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0
and to provide affordable housing to all, including poor, urban migrant and
industrial workers, under the flagship mission Pradhan Mantri Awas Yojana.
Note: Asian Development Bank Headquarters:
Mandaluyong, Philippines; Asian Development Bank President: Masatsugu Asakawa;
Asian Development Bank Membership: 68 countries; Asian Development Bank
Founded: 19 December 1966.
2. PM
Modi inaugurates Kashi-Vishwanath Dham project in Kashi: Prime Minister
Narendra Modi has inaugurated the first phase of the Rs 339 crore Kashi
Vishwanath Corridor project that connects the temple town’s two iconic
landmarks – Kashi Vishwanath temple and Ganga ghats. Modi offered prayers at
the Kashi Vishwanath Temple and planted a Rudraksha tree at the premises of the
temple. He also offered Ganga Jal, Chandan, ashes and milk to Lord Shiva. Uttar
Pradesh Chief Minister Yogi Adityanath, BJP President J P Nadda and a large
number of saints from across the country attended the ceremony.
Here are some important points about
the Kashi Viswanath Dham project:
(1) The idea behind the project is to
ensure that all heritage structures get preserved.
(2) A total of 23 buildings will be
inaugurated in phase 1 of the project.
(3) They will provide a variety of
facilities to the pilgrims visiting Shri Kashi Vishwanath Temple, including
Yatri Suvidha Kendras, Tourist Facilitation Centre, Vedic Kendra, Mumukshu
Bhavan, Bhogshala, City Museum, Viewing Gallery and Food Court, among others.
(4) The project is now spread over a
massive area of about 5 lakh square feet, whereas earlier premises was limited
to just around 3000 square feet.
3.
NITI Aayog and Bharti Foundation announce the launch of ‘Convoke 2021-22’: NITI Aayog in
partnership with Bharti Foundation, the philanthropic arm of Bharti
Enterprises, launched Convoke 2021-22. Convoke is a National research Symposium
that aims at addressing challenges in imparting education and strengthening its
quality with a special focus on all teachers, educationists, heads of schools
across India. Through Convoke they can now share their micro research papers.
These research papers will be analyzed by a panel of Educationists. The
shortlisted Research Papers will be presented during the ‘National Research
Symposium’ scheduled in January 2022. Through this platform:
(1) School Teachers/ Heads/Principals of
Government Schools and teachers from the Bharti Foundation network will be
encouraged to use research-based solutions through a scientific approach, and
showcase their efforts taken at the grass-roots level in improving learning
outcomes.
(2) The National Education Policy (NEP)
2020 also recognises and identifies teachers and faculty as the heart of the
learning process. It recommends that teachers will be recognised for novel
approaches to teaching that improve learning outcomes in their classrooms.
(3) NEP recommends developing platforms so
that teachers may share ideas and best practices for wider dissemination and
replication. Teachers over the years have been coming up with innovative
solutions to help support students and even more during the lockdown.
INTERNATIONAL UPDATES:
1.
UNGA granted observer status to International Solar Alliance: The United Nations
General Assembly (UNGA) has granted Observer Status to International Solar
Alliance (ISA) by adopting resolution 76/123. This decision has been taken
based on the UNGA’s Sixth Committee report. In November 2015, ISA was jointly
launched by India and France during the 21st session of the United Nations
Climate Change COP-21 in Paris, France to promote solar energy among its Member
Countries. A total of 108 countries participated in the Assembly, including 74
Member Countries and 34 Observer and Prospective Countries, 23 Partner
Organizations and 33 Special Invitee Organisations. The launch of the ISA was
announced by Prime Minister Narendra Modi, and former French President Francois
Hollande in November 2015, at the 21st session of the UN Climate Change
Conference of the Parties in Paris, France.
Note: International Solar Alliance
Headquarters: Gurugram; International Solar Alliance Founded: 30 November 2015;
International Solar Alliance Director-General: Ajay Mathur.
2.
Catherine Russell appointed as the new head of UNICEF: UN
Secretary-General Antonio Guterres has appointed Catherine Russell as the head
of UN children’s agency UNICEF, also known as the United Nations Children’s
Fund. Catherine Russell is an assistant to US President Joe Biden. She also
heads the White House Office of Presidential Personnel. Russell will succeed
Henrietta Fore, who resigned in July 2021 because of a family health issue.
Governing Body of UNICEF: UNICEF is
governed by a 36-member executive board. The board establishes policies,
oversees administrative & financial plans and approves programs. Board
comprises of government representatives, who are elected by the United Nations
Economic and Social Council. They are elected for three-year terms.
Note: UNICEF Headquarters: New York, United
States of America; UNICEF Founded: 11 December 1946.
3.
World Talent ranking report 2021: India ranked 56th: International
Institute for Management Development (IMD) World Competitive Centre published
its “World Talent Ranking Report”. In the report, Europe has dominated the
ranking in 2021. Global top 10 countries are from this region. Switzerland has
retained its top spot. India has been ranked at 56th position. In the Middle
East & North Africa, UAE maintained its second position, following Israel
(first in this region). Israel has been ranked 22nd. In the Arab world, UAE
maintained its top position. The UAE has improved its global talent ranking by
one position to 23rd. Taiwan has been ranked at third place in Asia while at
16th place In Asia, Taiwan has been ranked behind Hong Kong (11) and Singapore
(12) but ahead of South Korea (34), China (36), and Japan (39).
Top 10 in World Talent Ranking report 2021:
Rank Country
1 Switzerland
2 Sweden
3 Luxembourg
4 Norway
5 Denmark
6 Austria
7 Iceland
8 Finland
9 Netherlands
10 Germany
About the IMD: IMD is an
independent academic institution, having Swiss roots and a global reach. It was
founded 75 years ago for business leaders by business leaders. It has been a
pioneering force in developing leaders who can transform organizations and
contribute to society.
OTHER UPDATES:
SPORTS
1.
Norway’s Magnus Carlsen wins FIDE World Chess Championship: Reigning world
chess champion Magnus Carlsen of Norway defended his title and won the FIDE
World Championship in Dubai. He beat Ian Nepomniachtchi of Russia, securing the
one point he needed to cross the seven-point threshold to win the global
tournament held at Dubai’s Expo 2020 this month in the United Arab Emirates.
Carlsen clinched his fifth world championship title. Carlsen wins 60% of the 2
million-euro prize offered by the championship.
BANKING AND FINANCE
1.
RBI enforces 20-digit LEI for cross-border deals: The Reserve Bank of
India (RBI) made Legal Entity Identifier (LEI) mandatory for cross-border
transactions for capital or current account transactions of Rs 50 crore and
above, from October 1 next year. The LEI is a 20-digit number used to uniquely
identify parties to financial transactions worldwide to improve the quality and
accuracy of financial data systems. The identifier norm has been introduced in
a phased manner for participants in the over the counter (OTC) derivative,
non-derivative markets, large corporate borrowers, and large value transactions
in centralised payment systems. Starting October 1, 2022, banks will have to
obtain the `LEI` number from the resident entities (non-individuals) undertaking
any capital or current account transactions. For LEI holders, it would be
mandatory to furnish the number in all transactions irrespective of the
transaction size.
Note: RBI 25th Governor: Shaktikanta Das;
Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.
BUSINESS AND ECONOMY
1.
LIC gets RBI approval to increase stake up in IndusInd Bank: Life Insurance
Corporation of India (LIC) has received approval from the Reserve Bank of India
to increase its stake to 9.99 per cent in IndusInd Bank of the total issued and
paid-up capital of the private sector lender. The approval will be valid for 1
year i.e., up to December 8, 2022. At present, LIC holds a 4.95 per cent stake
in the IndusInd Bank. Recently, LIC had also received a similar kind of approval
from RBI to increase its stake in Kotak Mahindra Bank to 9.99 per cent.
About the LIC investment: LIC is one of the
biggest institutional investors in India’s stock market and has a stake in a
number of private and public sector banks. It has stakes in as many as 24
scheduled commercial banks, data from Capitaline shows.
It holds a 49.24 per cent stake in IDBI
Bank. Among other major banks, LIC holds 8.8 per cent in Canara Bank, 8.3 per
cent in Punjab National Bank and State Bank of India, 8.2 per cent in Axis
Bank, and 7.6 per cent in ICICI Bank.
Note: LIC Chairperson: M R Kumar; LIC
Headquarters: Mumbai; LIC Founded: 1 September 1956.
AWARDS AND HONOURS
1.
India’s Harnaaz Sandhu crowned 70th Miss Universe 2021: Actor-model Harnaaz
Sandhu made history as she was crowned Miss Universe 2021 beating contestants
from 80 countries, 21 years after India last brought home the title. While
Paraguay’s Nadia Ferreira, 22, finished second, South Africa’s Lalela Mswane,
24, came third.
History of India in Miss Universe
title:
Only two Indians before Ms Sandhu have won the title of Miss Universe— actors
Sushmita Sen in 1994 and Lara Dutta in 2000. The 70th edition of the event was
held in Eilat, Israel, where the 21-year-old bagged the coveted pageant.
Career of Harnaaz Sandhu: The
Chandigarh-based model, who is pursuing her master’s degree in public
administration, was crowned by her predecessor Andrea Meza of Mexico, who won
the pageant in 2020. Ms Sandhu started her journey in pageantry when she won
Times Fresh Face in 2017, representing Chandigarh at the age of 17. She later
won the LIVA Miss Diva Universe 2021 title.
About the ceremony: The ceremony was
hosted by Steve Harvey and saw performances from American singer JoJo. The
selection committee included actor and Miss Universe India 2015 Urvashi
Rautela, Adamari López, Adriana Lima, Cheslie Kryst, Iris Mittenaere, Lori
Harvey, Marian Rivera and Rena Sofer.
2.
Indian Mathematician Neena Gupta receives Ramanujan Prize 2021: Indian
Mathematician Neena Gupta has received the 2021 DST-ICTP-IMU Ramanujan Prize
for Young Mathematicians from Developing Countries for her outstanding work in
affine algebraic geometry and commutative algebra. Professor Neena Gupta, a
mathematician at the Indian Statistical Institute (ISI) in Kolkata. She is the
third woman to receive Ramanujan Prize, which was first awarded in 2005 and is
administered by Abdus Salam International Centre for Theoretical Physics
jointly with Dept Science and Technology and International Mathematical Union.
Awards and Honours: In 2014,
Professor Neena Gupta had received the ‘Young Scientist award from the Indian
National Science Academy, which called her work among one of the best done so
far in algebraic geometry in recent years. In 2019, Professor Gupta became one
of the youngest people to receive the ‘Shanti Swarup Bhatnagar Prize’ at the
age of 35. She has successfully solved a 70-year-old mathematics puzzle –
Zariski’s Cancellation Problem.
About the Ramanujan Prize: The prize, named
after Indian mathematician Srinivasa Ramanujan, was first awarded in 2005 and
is administered by the Abdus Salam International Centre for Theoretical Physics
(ICTP) jointly with the Department of Science and Technology (DST), Government
of India, and the International Mathematical Union (IMU).
DEFENCE
1.
DRDO successfully tests Pinaka Extended Range 2021: Defence Research
and Development Organisation (DRDO) has successfully test-fired Pinaka Extended
Range (Pinaka-ER), Area Denial Munitions (ADM), and indigenously developed
fuzes. The test was conducted at Integrated Test Range (ITR), Chandipur off the
Odisha coast. A total of 25 enhanced Pinaka rockets were reportedly fired from
multi-barrel rocket launchers (MRLs) at several ranges during the test. The
range version can destroy the target of up to 45 km. At the same time, the
flight path of these missiles was tracked by range instruments including
telemetry, radar, and electro-optical tracking system deployed by ITR and Proof
and Experimental Establishment (PXE).
About the Pinaka-ER: The Pinaka-ER is
the upgraded version of the earlier version which has been in service with the
Army for the last decade. It has been designed in the light of emerging
requirements with advanced technologies.
About ADM: The ADM variants of munition designed by the Armament Research & Development Establishment (ARDE), Pune for Pinaka and manufactured by the industry partner were also successfully carried out at Pokhran range as part of performance evaluation trials under technology absorption.
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