Daily GK Updates – 4th Jan, 2021

NATIONAL UPDATES:

 

1. Harsh Vardhan inaugurates India’s highest meteorological centre at Leh: Union Minister of Earth Sciences, Dr Harsh Vardhan inaugurated the meteorological centre (MC) of the India Meteorological Department at Leh in Ladakh via video conferencing. The centre would provide localised weather forecasts in the region, which would result in strengthening the weather-related early warning system for the region.

About the centre: The meteorological centre at Leh is the second MC located in the Himalayas. The first such facility is based in Itanagar, Arunachal Pradesh. The facility is located at a height of 3,500 metres, which makes it the highest meteorological centre in India. This new MC will provide short-range (three days,) medium-range (12 days) and long-range (one month) forecast for Leh and Kargil districts of the Union Territory.

Note: Lieutenant Governor of Ladakh: Radha Krishna Mathur.

 

2. GoI extends Deadline to file Income Tax Returns to January 10, 2021: The Central government has further extended the deadline to file an income tax return (ITR) for FY 2019-20 by 10 days, up to January 10, 2021. Earlier this deadline was December 31, 2020. This extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable. This is the third extension of the deadline to file a tax return. The first extension was given from the normal deadline of July 31 to November 30, 2020, and then to December 31, 2020.

Note: Union Minister of Finance and Corporate Affairs: Nirmala Sitharaman.

Union Minister of State in the Ministry of Finance and Corporate Affairs: Anurag Singh Thakur.

 

3. Umesh Sinha named deputy election commissioner: Umesh Sinha has been named as the deputy election commissioner in the Election Commission of India. Sinha, a 1986-batch IAS officer (retired) is at present serving as secretary-general in the commission. The Appointments Committee of the Cabinet cleared the extension in the term of reemployment of Sinha as deputy election commissioner on contract basis for a period of six months beyond December 31, 2020. His term will end on June 30, 2021. At present Sinha is also part of a committee set up by the Election Commission to look into the issue of revising the election expenditure of candidates during campaigning.

Note: Chief Election Commissioner of India: Sunil Arora; Chief Election Commissioner Formed: 25 January 1950; Chief Election Commissioner Headquarters: New Delhi.

 

4. Indian Railways’ new Vistadome coach successfully completes 180 kmph speed trial: Indian Railways successfully completed the 180 km per hour speed trial of its new design Vistadome tourist coaches. These Vistadome coaches will make train journeys memorable for the passengers, as well as give a further boost to tourism.

About Vistadome tourist coaches: The luxurious tourist’s coaches have been manufactured by the Integral Coach Factory in Chennai. The European-style coaches are made with see-through glass rooftops and wide windows for the indulgent sightseeing experience. Currently, 13 Vistadome coaches are being operated on select routes including the Nilgiri Mountain Railway line, Darjeeling Himalayan Railway, Kalka-Shimla Railway, Kangra Valley Railway, Matheran Hill Railway, between Dadar in Mumbai and Madgoan in Araku Valley as well as in the Kashmir Valley.

Note: Indian Railway Founded: 16 April 1853; Indian Railway Headquarters: New Delhi; Union Minister of Indian Railways: Piyush Goyal.

 

5. ISRO Chairman K Sivan gets one year extension up to 2022: The Central Government has approved the extension of the term of ISRO Chairman K Sivan, for a period of one year. He was due to retire on January 14, 2021. Sivan will now continue as ISRO Chairman and Secretary, Department of Space up to January 14, 2022. He joined ISRO in 1982, has been the chairman of the space agency since January 2018.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

 

INTERNATIONAL UPDATES:

 

1. WHO clears Pfizer-BioNTech vaccine for emergency use: The World Health Organization says it has cleared the Pfizer-BioNTech coronavirus vaccine for emergency use. This means poorer countries may soon get access to the shot already available in Europe and North America. Every country that has a drug regulatory body will have to issue its own approval for any COVID-19 vaccine, but countries with weak systems usually rely on WHO to vet the shots. The global body said that the decision to issue its first emergency use validation for a COVID-19 vaccine opens the door for countries to expedite their own regulatory approval processes to import and administer the vaccine. The UN health agency said its review found the Pfizer-BioNTech vaccine, which has already received clearance in the United States, Britain, the European Union and a dozen other countries, met the must-have criteria for safety and efficacy set out by WHO.

 

2. World Braille Day: 4th January: World Braille Day is observed globally on 4th January since 2019. The day is celebrated to raise awareness of the importance of Braille as a means of communication in the full realization of the human rights for blind and partially sighted people. The day is marked remembering the birth anniversary of Louis Braille, the inventor of Braille – for people with visual disabilities. Louis Braille was born on 4th January 1809 in the town of Coupvray in northern France.

What is Braille: Braille is a tactile representation of alphabetic and numerical symbols using six dots to represent each letter and number, and even musical, mathematical and scientific symbols. Braille (named after its inventor in 19th century France, Louis Braille) is used by blind and partially sighted people to read the same books and periodicals as those printed in a visual font.

 

Braille is essential in the context of education, freedom of expression and opinion, as well as social inclusion, as reflected in article 2 of the Convention on the Rights of Persons with Disabilities.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Cashaa, United Multistate Cooperative Society launch crypto bank ‘Unicas’: Fintech firm Cashaa and United Multistate Credit Cooperative Society launched a crypto bank that allows users to transact in cryptocurrency and fiat from one account. The partnership will enable Cashaa to access United’s regulatory licenses, its physical branches, and overall banking infrastructure. The bank named as Unicas is initially opening its services online and through 14 branches across NCR, Rajasthan, and Gujarat by January 2021, and plans to expand to 100 branches by the end of 2022.

 

2. Suryoday Small Finance Bank Gets SEBI Nod to Float IPO: Markets regulator Securities and Exchanges Board of India (SEBI) has granted the go-ahead to small lender Suryoday Small Finance Bank to float its Initial Public Offering (IPO). This IPO comprises fresh issuance of 1,15,95,000 equity shares and an offer for sale of up to 84,66,796 equity scrips by existing shareholders, according to the draft papers filed with the regulator. Those offering shares through the Offer for sale (OFS) route include International Financial Corporation (IFC), Gaja Capital, HDFC Holdings, IDFC First Bank, Kotak Mahindra Life Insurance Company, DWM (International) Mauritius Ltd and Americorp Ventures.

 

BUSINESS AND ECONOMY

 

1. Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash: Businesses with monthly turnover of over Rs 50 lakh wil have to mandatorily pay at least 1% of their Goods and Services Tax liability in cash, the Finance Ministry said as it moved to curb evasion by fake invoicing. The Central Board of Indirect Taxes and Customs has introduced Rule 86B in Goods and Services Tax rules which restricts use of input tax credit for discharging GST liability to 99%. While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included. However, this restriction will not apply where the managing director or any partner have paid more than Rs 1 lakh as income tax or the registered person has received a refund amount of more than Rs 1 lakh in the preceding financial year on account of unutilised input tax credit.

 

AWARDS AND HONOURS

 

1. V.K. Yadav chairman of railway board conferred with Eminent Engineer Award: The chairman & CEO of Railway Board, Vinod Kumar Yadav has been conferred with the prestigious “Eminent Engineer Award for the Year 2020’. This award is given by the Institution of Engineering and Technology (IET) for his outstanding contribution towards modernization and reforms over Indian Railways. Every year Institution of Engineering and Technology, Delhi Local Network celebrates Engineers’ Day on the 15th of September to commemorate the birth anniversary of Bharat Ratna Sir M Visvesvaraya. On this occasion, besides technical activities, the Institution also presents the Eminent Engineer’s Award to distinguished Engineering personalities for their outstanding services in the field of Engineering and technology.

About the Institution of Engineering and Technology (IET): The Institution of Engineering and Technology (IET) is a multidisciplinary professional engineering institution formally known as The Institution of Electrical Engineers (IEE), established in 1871. It is one of the world’s largest engineering institutions with over 168,000 members in 150 countries. The Institution is celebrating glorious 150 years of existence. IET is registered as a Charity in England and Wales and Scotland. IET Delhi Local Network is one of nine such networks in South Asia, which constitutes the Indian arm of the IET.

 

DEFENCE

 

1. Cabinet approves export of indigenously-developed Akash Missile System: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal to export indigenously-developed Akash Missile System. The Cabinet has also approved to set up of a committee for faster approvals of exports. The export version of Akash will be different from System currently deployed with Indian Armed Forces.

About the Akash Missile: Akash is a short-range Surface to Air Missile with a range of 25 Kms to protect vulnerable areas and vulnerable points from air attacks. It was inducted in IAF in 2014 and in the Indian Army in 2015.

 

OBITUARIES

 

1. Legendary Music Director Shantanu Mohapatra passes away: Legendary Odia musician, Shantanu Mohapatra passed away. He was the first Odia music composer to work with legends like Lata Mangeshkar, Manna Dey and Md Rafi and also the first to work in Hindi, Bengali, Assamese and Telugu film industries. Mohapatra has composed music for hundreds of Odia film songs and Jatra (opera) shows in a career that spanned over three decades. Mohapatra, who retired as the Director of Odisha Mining Corporation, received several awards including the Odisha Film Critic Award for his contribution to Odia music.

 

2. Former Union Minister and MP Kadambur Janarthanan passes away: Former Union Minister and senior AIADMK leader Kadambur M. R. Janardhanan has passed away following age-related ailments. He was 91. Janardhanan was elected to the Lok Sabha from Tirunelveli constituency for four terms 1984, 1989, 1991 and 1998. He had also served as Union Minister of State for Personnel, Public Grievances and Pension with additional charge of Minister of State for Finance in the Cabinet headed by Prime Minister Atal Behari Vajpayee between 1998 and 1999.

Daily GK Updates – 3rd Jan, 2021

 

NATIONAL UPDATES:

 

1. India’s first pollinator park opens in Uttarakhand: The country’s first pollinator park with over 40 species of butterflies, honeybees, birds and insects has been developed over four acres at Haldwani, Uttarakhand. The objective behind developing the park is to conserve various pollinator species, create awareness among people in general about the importance of conservation of these species and to promote further research on various aspects of pollination, including a threat to habitat and impact of pollution on pollinators.

There are at present 40 species of pollinators at the park, including common jezebel, common emigrant, red pierrot, common sailor, plain tiger, the common leopard, the common moron, common grass yellow, common blue bottle, common four-ring, peacock pansy, the painted lady, pioneer white, yellow-orange tip and lime butterfly.

About Pollinator: Pollinators provide pollination services to over 180,000 different plant species. Without them, existing populations of plants would decline, even if soil, air, nutrients, and other life-sustaining elements were available. The importance of pollinators was recognised long back in the west and to conserve pollinators, parks, gardens, strips and pathways were created on a large scale in countries like the USA.

Note: Uttarakhand Chief Minister: Trivendra Singh Rawat; Governor of Uttarakhand: Baby Rani Maurya.

 

2. ADB to provide $231 mn loan to enhance power generation capacity in Assam: The Asian Development Bank (ADB) has signed a $231 million loan with the Government of India to augment electricity generation capacity in the state of Assam. This is the third tranche loan for the ‘Assam Power Sector Investment Programme’ that was approved by the ADB Board in July 2014. Under the project, 120 megawatts (MW) hydroelectric power plant would be constructed. The programme focuses on enhancing the capacity and efficiency of the energy generation and distribution systems in Assam to improve the availability of electricity service to end-users. The programme, including its two previous tranches, focuses on enhancing capacity and efficiency of the energy generation and distribution systems in Assam to improve electricity service to end-users.

Note: Chief Minister of Assam: Sarbananda Sonowal; Governor: Prof. Jagdish Mukhi.

 

3. ADB and India sign $10 million loan to support horticulture in HP: The Asian Development Bank (ADB) and the Government of India have signed a $10 million project readiness financing (PRF). This agreement aims to help finance piloting activities, and design and capacity building for an ensuing project that aims to expand horticulture production and farm household income in the hill state of Himachal Pradesh. About the project:

(1) The PRF project will support advance actions to achieve a high level of project readiness through detailed design activities, capacity building of state-level agencies, and creating an enabling environment for subtropical horticulture development in the state.

(2) The PRF project aims to ensure implementation readiness with prior testing of new production technologies and marketing systems so that the ensuing project is cost-effective and gets completed in a timely manner to enhance farm profitability.

(3) The ensuing project, to be designed by the PRF, will support the development of subtropical horticulture, including cultivation of fruits and vegetables, in the state’s southern region which is currently lagging due to limited access to perennial water sources, crops losses due to wild animal encroachment and limited access to high-value markets.

Note: Chief Minister of HP: Jairam Thakur; Governor of HP: Bandaru Dattatraya.

 

4. A book titled “Vahana Masterclass” launched by Italian Writer Alfredo Covelli: Alfredo Covelli, an Italy based author has launched his new book Vahana Masterclass for children and Young Audience. The books will be illustrated and published by Scholastic India. Alfredo had a keen interest in our Indian culture and mythology which inspired him to write a story on Lord Ganesh for children.

The essence of the Book: The book narrates the story of the Ganesha looking for a new vahana to accompany him to all the great adventures around the cosmos. After millenniums of service, the great VahanaMushika, holy mount of Lord Ganesha is about to retire to live the rest of his life in meditation. For this reason, 4 young mice (3 months each) are selected from different parts of India: intelligent Anand from Kolkata (selected by Goddess Kali), devoted Kanu from Gujarat (selected by Lord Krishna), brave Karthik from Chennai (selected by the other Vahanas), and compassionate Gitanjali from Uttarakhand (selected by Prakriti, nature).

 

5. India’s 1st Testbed TiHAN launched at IIT Hyderabad: Union Minister of Education, Ramesh Pokhriyal ‘Nishank’ has virtually laid the foundation stone of “TiHAN-IIT Hyderabad”, India’s first Testbed for Autonomous Navigation Systems (Terrestrial and Aerial) at IIT Hyderabad. The Technology Innovation Hub on Autonomous Navigation Systems (TiHAN) for Unmanned Aerial Vehicles and Remotely Operated Vehicles at IIT Hyderabad. About the TiHAN Navigation Systems:

(1) The Department of Science and Technology (DST), Government of India, has sanctioned Rs. 135 crores to IIT Hyderabad under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS) to set up a Technology Innovation Hub on Autonomous Navigation and Data Acquisition Systems.

(2) Two acres of land has already been allocated in the IIT Hyderabad campus and the facilities are planned in phases.

(3) All Smart poles are enabled with communication providing technology with some Poles designed with sprinklers to simulate rain scenarios. The developed testbed will be available for use by all the industries, R&D labs, academia conducting research and development in the broad areas of autonomous navigation.

Note: Director of IIT-Hyderabad: Budaraju Srinivasa Murty.

 

6. Soma Mondal takes charge as new SAIL Chairman: Soma Mondal has taken over as the new Chairman of Steel Authority of India Limited (SAIL) with effect from January 01, 2021. She is the first-ever women-head of the body. She replaces Anil Kumar Chaudhary, who superannuated on 31 December 2020. She joined SAIL in 2017 as the director (commercial).

About Soma Mondal: A 1984-graduate in electrical engineering from the National Institute of Technology-Rourkela, Mondal started her career as a graduate engineer trainee at NALCO NSE and rose to become a director (commercial) at NALCO.

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

 

INTERNATIONAL UPDATES:

 

1. India becomes co-chair of Asia Protected Areas Partnership (APAP), a regional forum to conserve wildlife: India has been chosen as the co-chair of the IUCN-supported Asia Protected Areas Partnership (APAP) for a period of three years till November 2023. The APAP is chaired by IUCN (International Union for Conservation of Nature) Asia and co-chaired by an APAP nation member on rotational basis. India will replace South Korea, which held the post for 3 years until November, 2020. As a co-chair, India would be responsible to assist other Asian countries in managing their protected areas. India becomes co-chair of Asia Protected Areas Partnership (APAP), a regional forum to conserve wildlife.

Asia Protected Areas Partnership (APAP): The APAP was formally launched in 2014, at the IUCN World Parks Congress in Australia. It is a regional platform to assist governments and different stakeholders to collaborate for more practical administration of protected areas (PA) within the area. Currently there are 21 members from 17 international locations.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. YES BANK joins hand with Salesforce to boost retail growth: YES BANK said it has entered into collaboration with Salesforce, a leader in customer relationship management, to build a next generation technology platform to power the retail lending business, in line with the bank’s strategy to further scale up its retails assets portfolio. The private lender aims to deliver intelligent personalised customer experiences through the Salesforce platform. The lender claimed that it is among the first banks in India to move to Salesforce for loan origination and processing. The bank said the deployment of the Salesforce loan origination system for retail banking will enable it to provide personalised solutions and connected banking experiences for consumers across segments.

 

2. DBS Bank India introduces one-stop integrated travel marketplace ‘Travel Now’: DBS Bank India announced that it has introduced ‘Travel Now’, a one-stop travel marketplace within the digibank app. The new feature enables customers to browse and book flights, bus tickets and hotels across hundreds of destinations within and outside of India. Customers can also opt for travel insurance, offered by Bharti AXA General Insurance, with an automated claims process for flight cancellation, and flight departure and arrival delays of over 60 minutes.

 

BUSINESS AND ECONOMY

 

1. UNDP and PCMC join hands for ‘first social impact bond’: Pimpri Chinchwad Municipal Corporation, Pune has recently signed an MoU with United Nations Development Programme (UNDP) India to co-create India’s first Social Impact Bond (SIB). This is the first time that a government body will act as the ‘outcome funder’ in a bond, whereas traditionally most government-funded public projects require large and early investments by the government with a substantial gestation period of outcomes and involve various kinds of risks.

About Social Impact Bond: A Social Impact Bond also called pay-for-success bond or pay-for-success financing or simply social bond is basically a contract with public sector authority, where it pays for better social outcomes. This bond is a form of outcome-based contracting and aims at improving social outcomes for a specific group of citizens. The PCMC administration will bear the costs of a public welfare project associated with the bond if the pre-defined project targets are fulfilled.

Note: UNDP Headquarters: New York, New York, United States; UNDP Head: Achim Steiner; UNDP Founded: 22 November 1965.

 

AWARDS AND HONOURS

 

1. Pt Satish Vyas conferred Tansen Samman at the World Music Festival: In Madhya Pradesh, 96th Tansen Music Festival began in Gwalior with strict COVID-19 guidelines in place. In the inaugural ceremony renowned santoor player, Pandit Satish Vyas was conferred upon the prestigious Tansen Samman. Bhopal-based institution Abhinav Kala Parishad was honoured with Raja Mansingh Tomar award. The festival pays tribute to Tansen, one of 9 gems in Akbar’s court.

 

OBITUARIES

 

1. Former Indian footballer Mir Sajjad Ali passes away: Former India football international Mir Sajjad Ali passed away. He was 66. Sajjad Ali, a resident of Zeba Bagh in Asif Nagar, played for BDL in the local league. He rose to prominence with his fine game as a left-winger. He was selected to play for India in 1977. The left-winger later on played for East Bengal and Mohammedan Sporting.

 

2. 1956 Olympics 4th-place finishing Football Team Member Nikhil Nandy, passes away: A member of 1956 Olympics fourth-place finishing Indian football squad, Nikhil Nandy died after a prolonged illness. He was 88. Nandy, who formed the core of India’s defence in the late 1950s. The domestic front, Nandy was part of the triumphant Bengal team that won the Santosh Trophy in 1955. He had also won the Calcutta Football League with Eastern Railways in 1958. After retirement, Nandy had a coaching stint with the national team, as he took charge of the Blue Tigers dugout, jointly with J Kittu.

Daily GK Updates – 2nd Jan, 2021

NATIONAL UPDATES:

 

1. PM Modi lays foundation stone of Light House projects (LHPs): Prime Minister Narendra Modi laid the foundation stone of Light House projects (LHPs) at six sites across six States through video conference on 1st January 2021. The LHPs will be implemented at Indore (Madhya Pradesh), Rajkot (Gujarat), Chennai (Tamil Nadu), Ranchi (Jharkhand), Agartala (Tripura) and Lucknow (Uttar Pradesh).

About LightHouse projects: The project is being constructed under the Global Housing Technology Challenge (GHTC)-India. It has been conceptualised by the Union Ministry of Housing and Urban Affairs. GHTC-India envisages providing an ecosystem for the adoption of innovative technologies in the housing construction sector in a holistic manner. Under the programme, over 1,000 houses would be built in each of the six cities in 12 months along with allied infrastructure facilities. The houses are called lighthouse projects in technical language. Houses being built under the Light House Projects (LHPs) will take less time to build and will be resilient, affordable and comfortable as they use the best of new-age alternative global technologies, materials and processes in the construction sector.

 

2. GoI extends Deadline to file Income Tax Returns to January 10, 2021: The Central government has further extended the deadline to file an income tax return (ITR) for FY 2019-20 by 10 days, up to January 10, 2021. Earlier this deadline was December 31, 2020. This extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable. This is the third extension of the deadline to file a tax return. The first extension was given from the normal deadline of July 31 to November 30, 2020, and then to December 31, 2020.

Note: Union Minister of Finance and Corporate Affairs: Nirmala Sitharaman.

Union Minister of State in the Ministry of Finance and Corporate Affairs: Anurag Singh Thakur.

 

3. Umesh Sinha named deputy election commissioner: Umesh Sinha has been named as the deputy election commissioner in the Election Commission of India. Sinha, a 1986-batch IAS officer (retired) is at present serving as secretary-general in the commission. The Appointments Committee of the Cabinet cleared the extension in the term of reemployment of Sinha as deputy election commissioner on contract basis for a period of six months beyond December 31, 2020. His term will end on June 30, 2021. At present Sinha is also part of a committee set up by the Election Commission to look into the issue of revising the election expenditure of candidates during campaigning.

Note: Chief Election Commissioner of India: Sunil Arora; Chief Election Commissioner Formed: 25 January 1950; Chief Election Commissioner Headquarters: New Delhi.

 

4. Indian Railways’ new Vistadome coach successfully completes 180 kmph speed trial: Indian Railways successfully completed the 180 km per hour speed trial of its new design Vistadome tourist coaches. These Vistadome coaches will make train journeys memorable for the passengers, as well as give a further boost to tourism.

About Vistadome tourist coaches: The luxurious tourist’s coaches have been manufactured by the Integral Coach Factory in Chennai. The European-style coaches are made with see-through glass rooftops and wide windows for the indulgent sightseeing experience. Currently, 13 Vistadome coaches are being operated on select routes including the Nilgiri Mountain Railway line, Darjeeling Himalayan Railway, Kalka-Shimla Railway, Kangra Valley Railway, Matheran Hill Railway, between Dadar in Mumbai and Madgoan in Araku Valley as well as in the Kashmir Valley.

Note: Indian Railway Founded: 16 April 1853; Indian Railway Headquarters: New Delhi; Union Minister of Indian Railways: Piyush Goyal.

 

5. ISRO Chairman K Sivan gets one year extension up to 2022: The Central Government has approved the extension of the term of ISRO Chairman K Sivan, for a period of one year. He was due to retire on January 14, 2021. Sivan will now continue as ISRO Chairman and Secretary, Department of Space up to January 14, 2022. He joined ISRO in 1982, has been the chairman of the space agency since January 2018.

ISRO chief has imminent knowledge in Aerospace engineering, Space Transportation Systems Engineering, Launch vehicles, mission simulation software design and many other operations related to Space programs. He is also the main architect of 6D trajectory simulation software, SITARA which is the foundation of both the real-time and non-real-time trajectory simulations of all vehicles developed in the space agency.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

 

INTERNATIONAL UPDATES:

 

1. WHO clears Pfizer-BioNTech vaccine for emergency use: The World Health Organization says it has cleared the Pfizer-BioNTech coronavirus vaccine for emergency use. This means poorer countries may soon get access to the shot already available in Europe and North America. Every country that has a drug regulatory body will have to issue its own approval for any COVID-19 vaccine, but countries with weak systems usually rely on WHO to vet the shots. The global body said that the decision to issue its first emergency use validation for a COVID-19 vaccine opens the door for countries to expedite their own regulatory approval processes to import and administer the vaccine. The UN health agency said its review found the Pfizer-BioNTech vaccine, which has already received clearance in the United States, Britain, the European Union and a dozen other countries, met the must-have criteria for safety and efficacy set out by WHO.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Cashaa, United Multistate Cooperative Society launch crypto bank ‘Unicas’: Fintech firm Cashaa and United Multistate Credit Cooperative Society launched a crypto bank that allows users to transact in cryptocurrency and fiat from one account. The partnership will enable Cashaa to access United’s regulatory licenses, its physical branches, and overall banking infrastructure. The bank named as Unicas is initially opening its services online and through 14 branches across NCR, Rajasthan, and Gujarat by January 2021, and plans to expand to 100 branches by the end of 2022.

 

2. Suryoday Small Finance Bank Gets SEBI Nod to Float IPO: Markets regulator Securities and Exchanges Board of India (SEBI) has granted the go-ahead to small lender Suryoday Small Finance Bank to float its Initial Public Offering (IPO). This IPO comprises fresh issuance of 1,15,95,000 equity shares and an offer for sale of up to 84,66,796 equity scrips by existing shareholders, according to the draft papers filed with the regulator. Those offering shares through the Offer for sale (OFS) route include International Financial Corporation (IFC), Gaja Capital, HDFC Holdings, IDFC First Bank, Kotak Mahindra Life Insurance Company, DWM (International) Mauritius Ltd and Americorp Ventures.

 

BUSINESS AND ECONOMY

 

1. Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash: Businesses with monthly turnover of over Rs 50 lakh wil have to mandatorily pay at least 1% of their Goods and Services Tax liability in cash, the Finance Ministry said as it moved to curb evasion by fake invoicing. The Central Board of Indirect Taxes and Customs has introduced Rule 86B in Goods and Services Tax rules which restricts use of input tax credit for discharging GST liability to 99%. While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included. However, this restriction will not apply where the managing director or any partner have paid more than Rs 1 lakh as income tax or the registered person has received a refund amount of more than Rs 1 lakh in the preceding financial year on account of unutilised input tax credit.

 

AWARDS AND HONOURS

 

1. Mother Teresa Memorial Awards for Social Justice 2020: Harmony Foundation hosted the Mother Teresa Memorial Awards for Social Justice. The Awards in its 16th year is the only award endorsed by Sister Prema, the Superior General of the Missionaries of Charity, the organization started by Mother Teresa. The theme for this year’s awards was, ‘Celebrating Compassion In Times Of Covid ‘. Awardees this year included:

(1) Dr Anthony Fauci (USA) is the Director of the National Institute of Allergy and Infectious Diseases, USA. He and his task force were among the first ones to realize the seriousness of this pandemic.

(2) Father Fabio Stevenazzi (Milan, Italy), decided to return to medical practice in order to help those infected with COVID 19 has thrust him to be the modern-day example of St Charles Borromeo who in 1576 during the Great Plague that hit the city of Milan and cut the population by half, stayed behind to nurse the sick and renovate hospitals.

(3) Dr Pradeep Kumar (Chennai) took it upon himself to give a befitting burial to his colleague with the help of two ward boys, at a cemetery in the city in the middle of the night.

(4) IPS Sanjay Pandey (DG Home Guards, Maharashtra) went beyond the call of duty as a police officer to open the first relief camp in the Mumbai city suburbs for migrant workers whose livelihood were disrupted by the lockdown to contain the pandemic.

(5) Vikas Khanna (Manhattan, USA) heart still moves to serve the lonely and underprivileged here in India.

(6) KK Shailaja (Minister of Health, Kerala), her extraordinary efforts and pro-activeness in dealing with the pandemic by following experts and scientific advice helped countless Keralites survive the terrors of this pandemic, serving as an example for governments of other states countries to follow.

About Harmony Foundation: Harmony Foundation is an international NGO that works in the realm of Social Justice. It was founded in October of 2005, with its raison d’etre, being the establishment, and strengthening, of social cohesion among various communities, and to work towards the benefit of all, without discriminating against any religion, creed, sex, or their origins. Instituted in 2005, these Awards, celebrate and commemorate the memory and legacy of Mother Teresa, canonized a Saint by Pope Francis in the Vatican.

 

DEFENCE

 

1. Cabinet approves export of indigenously-developed Akash Missile System: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal to export indigenously-developed Akash Missile System. The Cabinet has also approved to set up of a committee for faster approvals of exports. The export version of Akash will be different from System currently deployed with Indian Armed Forces.

About the Akash Missile: Akash is a short-range Surface to Air Missile with a range of 25 Kms to protect vulnerable areas and vulnerable points from air attacks. It was inducted in IAF in 2014 and in the Indian Army in 2015.

 

OBITUARIES

 

1. Legendary Music Director Shantanu Mohapatra passes away: Legendary Odia musician, Shantanu Mohapatra passed away. He was the first Odia music composer to work with legends like Lata Mangeshkar, Manna Dey and Md Rafi and also the first to work in Hindi, Bengali, Assamese and Telugu film industries. Mohapatra has composed music for hundreds of Odia film songs and Jatra (opera) shows in a career that spanned over three decades. Mohapatra, who retired as the Director of Odisha Mining Corporation, received several awards including the Odisha Film Critic Award for his contribution to Odia music.

 

2. Former Union Minister and MP Kadambur Janarthanan passes away: Former Union Minister and senior AIADMK leader Kadambur M. R. Janardhanan has passed away following age-related ailments. He was 91. Janardhanan was elected to the Lok Sabha from Tirunelveli constituency for four terms 1984, 1989, 1991 and 1998. He had also served as Union Minister of State for Personnel, Public Grievances and Pension with additional charge of Minister of State for Finance in the Cabinet headed by Prime Minister Atal Behari Vajpayee between 1998 and 1999.

Daily GK Updates – 1st Jan, 2021

 

NATIONAL UPDATES:

 

1. PM Modi lays foundation stone of Light House projects (LHPs): Prime Minister Narendra Modi laid the foundation stone of Light House projects (LHPs) at six sites across six States through video conference on 1st January 2021. The LHPs will be implemented at Indore (Madhya Pradesh), Rajkot (Gujarat), Chennai (Tamil Nadu), Ranchi (Jharkhand), Agartala (Tripura) and Lucknow (Uttar Pradesh).

About LightHouse projects: The project is being constructed under the Global Housing Technology Challenge (GHTC)-India. It has been conceptualised by the Union Ministry of Housing and Urban Affairs. GHTC-India envisages providing an ecosystem for the adoption of innovative technologies in the housing construction sector in a holistic manner. Under the programme, over 1,000 houses would be built in each of the six cities in 12 months along with allied infrastructure facilities. The houses are called lighthouse projects in technical language. Houses being built under the Light House Projects (LHPs) will take less time to build and will be resilient, affordable and comfortable as they use the best of new-age alternative global technologies, materials and processes in the construction sector.

 

2. GoI extends Deadline to file Income Tax Returns to January 10, 2021: The Central government has further extended the deadline to file an income tax return (ITR) for FY 2019-20 by 10 days, up to January 10, 2021. Earlier this deadline was December 31, 2020. This extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable. This is the third extension of the deadline to file a tax return. The first extension was given from the normal deadline of July 31 to November 30, 2020, and then to December 31, 2020.

Note: Union Minister of Finance and Corporate Affairs: Nirmala Sitharaman.

Union Minister of State in the Ministry of Finance and Corporate Affairs: Anurag Singh Thakur.

 

3. Umesh Sinha named deputy election commissioner: Umesh Sinha has been named as the deputy election commissioner in the Election Commission of India. Sinha, a 1986-batch IAS officer (retired) is at present serving as secretary-general in the commission. The Appointments Committee of the Cabinet cleared the extension in the term of reemployment of Sinha as deputy election commissioner on contract basis for a period of six months beyond December 31, 2020. His term will end on June 30, 2021. At present Sinha is also part of a committee set up by the Election Commission to look into the issue of revising the election expenditure of candidates during campaigning.

Note: Chief Election Commissioner of India: Sunil Arora; Chief Election Commissioner Formed: 25 January 1950; Chief Election Commissioner Headquarters: New Delhi.

 

4. Indian Railways’ new Vistadome coach successfully completes 180 kmph speed trial: Indian Railways successfully completed the 180 km per hour speed trial of its new design Vistadome tourist coaches. These Vistadome coaches will make train journeys memorable for the passengers, as well as give a further boost to tourism.

About Vistadome tourist coaches: The luxurious tourist’s coaches have been manufactured by the Integral Coach Factory in Chennai. The European-style coaches are made with see-through glass rooftops and wide windows for the indulgent sightseeing experience. Currently, 13 Vistadome coaches are being operated on select routes including the Nilgiri Mountain Railway line, Darjeeling Himalayan Railway, Kalka-Shimla Railway, Kangra Valley Railway, Matheran Hill Railway, between Dadar in Mumbai and Madgoan in Araku Valley as well as in the Kashmir Valley.

Note: Indian Railway Founded: 16 April 1853; Indian Railway Headquarters: New Delhi; Union Minister of Indian Railways: Piyush Goyal.

 

5. ISRO Chairman K Sivan gets one year extension up to 2022: The Central Government has approved the extension of the term of ISRO Chairman K Sivan, for a period of one year. He was due to retire on January 14, 2021. Sivan will now continue as ISRO Chairman and Secretary, Department of Space up to January 14, 2022. He joined ISRO in 1982, has been the chairman of the space agency since January 2018.

ISRO chief has imminent knowledge in Aerospace engineering, Space Transportation Systems Engineering, Launch vehicles, mission simulation software design and many other operations related to Space programs. He is also the main architect of 6D trajectory simulation software, SITARA which is the foundation of both the real-time and non-real-time trajectory simulations of all vehicles developed in the space agency.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

 

INTERNATIONAL UPDATES:

 

1. WHO clears Pfizer-BioNTech vaccine for emergency use: The World Health Organization says it has cleared the Pfizer-BioNTech coronavirus vaccine for emergency use. This means poorer countries may soon get access to the shot already available in Europe and North America. Every country that has a drug regulatory body will have to issue its own approval for any COVID-19 vaccine, but countries with weak systems usually rely on WHO to vet the shots. The global body said that the decision to issue its first emergency use validation for a COVID-19 vaccine opens the door for countries to expedite their own regulatory approval processes to import and administer the vaccine. The UN health agency said its review found the Pfizer-BioNTech vaccine, which has already received clearance in the United States, Britain, the European Union and a dozen other countries, met the must-have criteria for safety and efficacy set out by WHO.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Cashaa, United Multistate Cooperative Society launch crypto bank ‘Unicas’: Fintech firm Cashaa and United Multistate Credit Cooperative Society launched a crypto bank that allows users to transact in cryptocurrency and fiat from one account. The partnership will enable Cashaa to access United’s regulatory licenses, its physical branches, and overall banking infrastructure. The bank named as Unicas is initially opening its services online and through 14 branches across NCR, Rajasthan, and Gujarat by January 2021, and plans to expand to 100 branches by the end of 2022.

 

2. Suryoday Small Finance Bank Gets SEBI Nod to Float IPO: Markets regulator Securities and Exchanges Board of India (SEBI) has granted the go-ahead to small lender Suryoday Small Finance Bank to float its Initial Public Offering (IPO). This IPO comprises fresh issuance of 1,15,95,000 equity shares and an offer for sale of up to 84,66,796 equity scrips by existing shareholders, according to the draft papers filed with the regulator. Those offering shares through the Offer for sale (OFS) route include International Financial Corporation (IFC), Gaja Capital, HDFC Holdings, IDFC First Bank, Kotak Mahindra Life Insurance Company, DWM (International) Mauritius Ltd and Americorp Ventures.

 

BUSINESS AND ECONOMY

 

1. Businesses with monthly turnover of over Rs 50 lakh to pay at least 1% GST liability in cash: Businesses with monthly turnover of over Rs 50 lakh wil have to mandatorily pay at least 1% of their Goods and Services Tax liability in cash, the Finance Ministry said as it moved to curb evasion by fake invoicing. The Central Board of Indirect Taxes and Customs has introduced Rule 86B in Goods and Services Tax rules which restricts use of input tax credit for discharging GST liability to 99%. While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included. However, this restriction will not apply where the managing director or any partner have paid more than Rs 1 lakh as income tax or the registered person has received a refund amount of more than Rs 1 lakh in the preceding financial year on account of unutilised input tax credit.

 

AWARDS AND HONOURS

 

1. Mother Teresa Memorial Awards for Social Justice 2020: Harmony Foundation hosted the Mother Teresa Memorial Awards for Social Justice. The Awards in its 16th year is the only award endorsed by Sister Prema, the Superior General of the Missionaries of Charity, the organization started by Mother Teresa. The theme for this year’s awards was, ‘Celebrating Compassion In Times Of Covid ‘. Awardees this year included:

(1) Dr Anthony Fauci (USA) is the Director of the National Institute of Allergy and Infectious Diseases, USA. He and his task force were among the first ones to realize the seriousness of this pandemic.

(2) Father Fabio Stevenazzi (Milan, Italy), decided to return to medical practice in order to help those infected with COVID 19 has thrust him to be the modern-day example of St Charles Borromeo who in 1576 during the Great Plague that hit the city of Milan and cut the population by half, stayed behind to nurse the sick and renovate hospitals.

(3) Dr Pradeep Kumar (Chennai) took it upon himself to give a befitting burial to his colleague with the help of two ward boys, at a cemetery in the city in the middle of the night.

(4) IPS Sanjay Pandey (DG Home Guards, Maharashtra) went beyond the call of duty as a police officer to open the first relief camp in the Mumbai city suburbs for migrant workers whose livelihood were disrupted by the lockdown to contain the pandemic.

(5) Vikas Khanna (Manhattan, USA) heart still moves to serve the lonely and underprivileged here in India.

(6) KK Shailaja (Minister of Health, Kerala), her extraordinary efforts and pro-activeness in dealing with the pandemic by following experts and scientific advice helped countless Keralites survive the terrors of this pandemic, serving as an example for governments of other states countries to follow.

About Harmony Foundation: Harmony Foundation is an international NGO that works in the realm of Social Justice. It was founded in October of 2005, with its raison d’etre, being the establishment, and strengthening, of social cohesion among various communities, and to work towards the benefit of all, without discriminating against any religion, creed, sex, or their origins. Instituted in 2005, these Awards, celebrate and commemorate the memory and legacy of Mother Teresa, canonized a Saint by Pope Francis in the Vatican.

 

DEFENCE

 

1. Cabinet approves export of indigenously-developed Akash Missile System: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal to export indigenously-developed Akash Missile System. The Cabinet has also approved to set up of a committee for faster approvals of exports. The export version of Akash will be different from System currently deployed with Indian Armed Forces.

About the Akash Missile: Akash is a short-range Surface to Air Missile with a range of 25 Kms to protect vulnerable areas and vulnerable points from air attacks. It was inducted in IAF in 2014 and in the Indian Army in 2015.

 

OBITUARIES

 

1. Legendary Music Director Shantanu Mohapatra passes away: Legendary Odia musician, Shantanu Mohapatra passed away. He was the first Odia music composer to work with legends like Lata Mangeshkar, Manna Dey and Md Rafi and also the first to work in Hindi, Bengali, Assamese and Telugu film industries. Mohapatra has composed music for hundreds of Odia film songs and Jatra (opera) shows in a career that spanned over three decades. Mohapatra, who retired as the Director of Odisha Mining Corporation, received several awards including the Odisha Film Critic Award for his contribution to Odia music.

 

2. Former Union Minister and MP Kadambur Janarthanan passes away: Former Union Minister and senior AIADMK leader Kadambur M. R. Janardhanan has passed away following age-related ailments. He was 91. Janardhanan was elected to the Lok Sabha from Tirunelveli constituency for four terms 1984, 1989, 1991 and 1998. He had also served as Union Minister of State for Personnel, Public Grievances and Pension with additional charge of Minister of State for Finance in the Cabinet headed by Prime Minister Atal Behari Vajpayee between 1998 and 1999.