Daily GK Updates – 6th Jan, 2021

NATIONAL UPDATES:

 

1. DCGI gives final approval for Covid-19 vaccines of SII, Bharat Biotech: The Drugs Controller General of India (DCGI) has formally announced the final approval for Oxford-AstraZeneca “Covishield” and Bharat Biotech “Covaxin” vaccines against the coronavirus disease (Covid-19) for emergency use. CDSCO (Central Drugs Standard Control Organisation) accepts the subject expert committee reform rations on Serum and Bharat Biotech Covid vaccines.

About Covishield: The subject expert committee (SEC) under CDSCO had recommended Oxford-AstraZeneca’s vaccine, which is being manufactured by the Serum Institute of India (SII) as Covishield, for emergency use and Covaxin for restricted use.

About Covaxin: Covaxin is the indigenous vaccine being developed by Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR).

Note: Serum Institute of India CEO: Adar Poonawalla; Serum Institute of India Founder: Cyrus S. Poonawalla; Serum Institute of IndiaFounded: 1966; Serum Institute of India Headquarters location: Pune.

 

2. Delhi government sets up Tamil Academy: Delhi government Department of Art, Culture, and Language has set-up a Tamil academy to promote the language and culture of the southern state of Tamil Nadu. Delhi has a large population of people from Tamil Nadu and we want to present a platform to the people of Delhi to get a taste of the art and culture of Tamil Nadu.

About Tamil Academy: The Delhi government has appointed a former councillor and member of Delhi Tamil Sangam N Raja as the Vice-Chairman of the academy. The Department of Art, Culture, and Language of the Delhi govt has decided that the new academy will introduce various awards to promote and reward the good works of people in Tamil language and culture. The government will also provide language courses through this academy. The Delhi government will also celebrate and organise cultural festivals for the people of Tamil Nadu.

Note: Chief Minister of Delhi: Arvind Kejriwal; Governor of Delhi: Anil Baijal; Delhi Minister of Art, Culture, and Language: Manish Sisodia.

 

3. Oscar nominee ‘Another Round’ to be opening movie at 51st IFFI: The 51st International Film Festival of India (IFFI) will open on 16th January, with the Indian premiere of the movie ‘Another Round’ by Thomas Vinterberg. The movie starring Cannes Best Actor Award winner Mads Mikkelsen is among a star-studded line up of movies being showcased at IFFI. The movie is also Denmark’s official entry to the Oscars. The festival will also witness the World Premiere of ‘Mehrunisa’. The film by Sandeep Kumar will premier mid-fest.

About 51st International Film Festival of India: The festival will close on 24th January with the India Premiere of the historical drama ‘Wife of a Spy’ by Kiyoshi Kurosawa. 51st IFFI is being organised from 16th to 24th January in Goa. This edition is being organised in a hybrid mode for the first time and will comprise of both online and in-person experience. The festival will be loaded with a line-up of famous movies with a total of 224 films from across the globe. This includes 21 non-feature films and 26 feature films under the Indian Panorama section. Media registration for the festival has opened recently and is available till 10th January.

 

4. Amit Shah released inaugural issue of “National Police K-9 Journal”: Home Minister Amit Shah has released the inaugural issue of the National Police K-9 Journal in New Delhi. It is the first such publication in the country on the subject of Police Service K9s, Police Dogs. This is a unique initiative that will further enrich the subjects related to Police Service Dog, K-9, PSK teams in the country.

About Police K9 Cell: A special Police K9 Cell was established in November 2019, under the Police Modernization Division of the Ministry of Home Affairs with the mandate of Mainstreaming and Augmentation of Police Service K9s in the country. The publication of the Police K9 Journal is another step in creating an ecosystem in the country to train and learn on augmenting this vital resource. The journal comprises different sections in Hindi and English. It is a biannual journal which will be released in April and October every year.

 

5. Journalist Day Observed in Maharashtra on 6 January: The Journalist Day is observed by Maharashtra state government on 6th January every year in the memory of late journalist Balshastri Jambhekar. The first newspaper in the Marathi language named ‘Darpan’, was published on January 6, 1832, the date which also marks the birth anniversary of Balshastri Jambhekar.

About Balshastri Jambhekar: Balshastri Jambhekar is also known as ‘The Father of Marathi Journalism’, for his efforts in starting journalism in Marathi language, in the form of first Marathi newspaper and first Marathi monthly.

Note: Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.

 

INTERNATIONAL UPDATES:

 

1. Mukesh Ambani ranked 12th in the Bloomberg Billionaires Index 2021: India’s richest man Mukesh Ambani, the chairman and Managing Director of Reliance Industries Limited (RIL) dropped down to 12th spot in the Bloomberg Billionaires Index 2021 (as on 2nd January 2021). The net worth of Ambani dropped from 90 billion USD (around Rs. 6.62 lakh crore) (in early 2020) to 76.7 billion USD (around Rs. 5.6 lakh crore). The drop in the net worth of Mukesh Ambani was due to the correction in the shares of RIL which has fallen to Rs.1995.50 on 30th December 2020, which is 16% from its all-time high of Rs 2369.35.

Top 3 in the Bloomberg Billionaires Index:

Rank	Personality	Net worth
1	Jeff Bezos	190 Billion USD
2	Elon R Musk	170 Billion USD
3	Bill Gates	132 Billion USD

 

Asia’s Richest person: Zhong Shanshan, referred to as “Lone Wolf”, has replaced Ambani as Asia’s richest person, he is one of the fastest in the history to achieve the feat. Zhong Shanshan is Chinese billionaire whose net worth is 78.2 billion USD, which is attributed to the listing of Beijing Wantai Biological Pharmacy Enterprises Co and Nongu Spring Co, a bottled water firm.

About Hurun Global Rich List 2020: As Per Hurun Global Rich List 2020, India’s Mukesh Ambani dropped to the eighth position in the Hurun global rich list 2020. However, he retained as Asia’s Richest Person. Amazon founder Jeff Bezos topped the charts with a net worth of $201 billion. Tesla CEO and founder Elon Musk ($145 billion) moved into the second position. French multinational luxury goods conglomerate Louis Vuitton SE group head Bernard Arnault ($120 billion) came in third, followed by Microsoft co-founder Bill Gates ($111 billion) and Facebook founder Mark Zuckerberg ($109 billion) in the fifth slot.

 

OTHER UPDATES:

 

SPORTS

 

1. Leon Mendonca becomes India’s 67th Grandmaster: Goa’s 14-year-old Leon Mendonca has become India’s 67th chess Grandmaster by winning the third and final norm at a tournament in Italy. Mendonca, who achieved the feat at 14 years, 9 months and 17 days, is the second GM from the coastal State. Chennai player G. Akash, had in July, become the country’s 66th Grandmaster. He became the 29th Youngest GM in the world. The 1st GM from Goa is Ivana Maria Furtado, she achieved it in 2011. The player achieved his first GM norm at the Rigo Chess GM Round Robin, while the second came at the event in Budapest in November and the final one at the Vergani Cup in Italy.

Global Scenario: Sergey Karjakin of Russia holds the record for the World’s Youngest ever GM having qualified for the title at the age of 12 years and 7 months (achieved the title in 2003). GM is a title awarded by FIDE (International Chess Federation). It is the highest title a chess player can obtain apart from World Champion.

Note: International Chess Federation President: Arkady Dvorkovich; International Chess Federation Headquarters: Lausanne, Switzerland; International Chess Federation Founded: 20 July 1924.

 

BANKING AND FINANCE

 

1. RBI introduces the RBI-Digital Payments Index: Reserve Bank of India has launched a Digital Payments Index (DPI) to capture the extent of digitization of digital/electronic payments across the country. This RBI-Digital Payments Index (DPI) has 5 broad parameters that will be used for the measurement of deepening and penetration of digital payments. These parameters and their weightage are as under:

(1) Payment Enablers (weight 25%),

(2) Payment Infrastructure – Demand-side factors (10%),

(3) Payment Infrastructure – Supply-side factors (15%),

(4) Payment Performance (45%)

(5) Consumer Centricity (5%).

The base period for RBI-DPI is March 2018. This means that the DPI score for March 2018 is set at 100. RBI has calculated the DPI for March 2019 and March 2020 at 153.47 and 207.84 respectively, indicating appreciable growth. RBI-DPI shall be published on a semi-annual basis from March 2021 onwards with a lag of 4 months.

Note: RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

 

DEFENCE

 

1. GRSE delivers 8th landing craft utility ship to Indian Navy: Kolkata-based Garden Reach Shipbuilders and Engineers (GRSE) has delivered the Landing Craft Utility (LCU) MK IV class vessel ‘IN LCU L-58’ (Yard 2099) to the Indian Navy. The amphibious ships, to be based in the strategic location of Andaman and Nicobar Islands, which is close to various routes leading to the South China Sea. LCU L-58 is the final ship in the series of 8 LCUs being manufactured by GRSE for the Indian Navy.

About LCU Ship: The LCU ships, equipped with state-of-the-art technology, were developed in-house with 90 per cent of its parts indigenously manufactured. These ships are very unique in their design and class in the world. A very specific kind of requirement was given by the Indian Navy — the speed of 15 knots, a displacement of 900- odd tonnes and a low draught for beaching in the shallowest of waters. The ships are designed to accommodate 216 personnel and have two indigenous CRN 91 guns to provide artillery fire support during landing operations.

Note: GRSE Chairman & Managing Director: Rear Admiral V K Saxena; GRSE Headquarters: Kolkata, West Bengal.

 

OBITUARIES

 

1. Former Union Minister Buta Singh passes away: Former Union Minister and senior Rajasthan Congress leader Buta Singh passed away. The veteran politician Buta Singh served as Home Minister of India in the Rajiv Gandhi government from 1986 to 1989. Buta Singh had also served as the Minister of Agriculture and Rural Development. He was a four-time MP from Jalore-Sirohi Lok Sabha constituency. He served as the Chairperson of the National Commission For Scheduled Cast from 2007 to 2010.

 

2. Former Union Minister Buta Singh passes away: Former Union Minister and senior Rajasthan Congress leader Buta Singh passed away. The veteran politician Buta Singh served as Home Minister of India in the Rajiv Gandhi government from 1986 to 1989. Buta Singh had also served as the Minister of Agriculture and Rural Development. He was a four-time MP from Jalore-Sirohi Lok Sabha constituency. He served as the Chairperson of the National Commission For Scheduled Cast from 2007 to 2010.

Daily GK Updates – 5th Jan, 2021

 

NATIONAL UPDATES:

 

1. INCOIS launches “Digital Ocean” app for information sharing: The Union Minister of Earth Sciences, Science & Technology, Dr Harsh Vardhan virtually inaugurated the web-based application “Digital Ocean”. It has been developed by Hyderabad-based Indian National Centre for Ocean Information Services (INCOIS) an autonomous organization under M/o Earth sciences. Digital Ocean is a first of its kind digital platform for Ocean Data Management.

About “Digital Ocean App”: Digital Ocean is a step towards Prime Minister’s vision of Digital India, to transform India into a digitally empowered society and knowledge economy. Digital Ocean will serve as a one-stop-solution for all the data related to the ocean. It will help to share this knowledge about the ocean with a wide range of users including research institutions, operational agencies, strategic users, the academic community, maritime industry and policymakers, as well as general public and the common man that too free of cost.

Note: Director of INCOIS: T. Srinivasa Kumar; INCOIS Founded: 1998; Headquarters of INCOIS: Pragathi Nagar, Hyderabad.

 

2. Nitin Gadkari announces Multi-Model Logistics Park in Assam’s Silchar: Union Minister for Road Transport and Highways, Nitin Gadkari has announced that a multi-modal logistics park in Assam. It will be constructed in Silchar and the Balacherra-Harengajao section of the Silchar-Saurashtra Highway will be completed in March 2022. Mr Gadkari made this announcement at a public meeting at Zero Point on the East-West Corridor at Madhurmukh at Rangpur.

About the Project: The Union Minister for Road Transport laid the foundation stone of 20 projects and inaugurated seven projects worth Rs 2,366 crores for Assam with a total length of 439 km. The logistics park will be constructed in Silchar and construction works of East-West Corridor would be expedited and two new bridges would come up over the Barak river. Chief Minister Sarbananda Sonowal to send a proposal for ₹ 250 crore project in the Corporate Social Responsibility Fund for the Barak Valley. The water transport system of Brahmaputra would be strengthened, the Union Minister said that dredging work on Barak river has also been completed.

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

 

3. Centre Extends Deadline for mandatory FASTag till February 15, 2021: The Union Ministry of Road Transport and Highways has extended the deadline for mandatory usage of FASTag for all four-wheel on the National Highway till February 1, 2021. Earlier the ministry had announced to make FASTag mandatory for all four-wheel vehicles with effect from January 1, 2021. It has also been mandated that a valid FASTag is mandatory while getting new third party insurance. This shall be applicable w.e.f. 1 April 2021. The compulsory use of FASTags will help vehicles pass through the toll plazas swiftly, preventing long queues.

 

4. Cabinet Approves Multi Modal Logistics Hub & Multi Modal Transport Hub (MMTH) at Greater Noida: The Union Cabinet has approved proposals of Department of Promotion of Industry & Internal Trade (DPIIT) for construction of of various trunk infrastructure components, which includes:

(1) Krishnapatnam Industrial Area in Andhra Pradesh (estimated cost of the project of Rs. 2,139.44 crore);

(2) Tumakuru Industrial Area in Karnataka (estimated cost of Rs. 1,701.81 crore)

(3) Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) at Greater Noida in Uttar Pradesh (estimated cost of Rs. 3,883.80 crore).

 

5. Late Justice Rajindar Sachar’s Autobiography: ‘In Pursuit of Justice’: The family of Late Justice Rajindar Sachar in association with The Indian Society of International Law and The Indian Law Institute is organizing the book launch “In Pursuit Of Justice: An Autobiography” written by Late Justice Rajindar Sachar. The book has been posthumously published.

About Justice Rajindar Sachar: Justice Rajindar Sachar was a socialist, an egalitarian, a defender of civil liberties, a deeply engaged citizen of India, and, above all, a humanist. He joined the Delhi High Court in 1970 but was transferred out of Delhi for voicing his opposition to the Emergency. During those dark days, he shared a close bond with justice H.R. Khanna, the lone voice of dissent in a Supreme Court that chose to side with Indira Gandhi. Brought back to Delhi after the Emergency, he rose to become the Chief Justice of the Delhi High Court.

 

INTERNATIONAL UPDATES:

 

1. Harsh Vardhan nominated to the Board of ‘GAVI’, The Vaccine Alliance: Union Health Minister Dr Harsh Vardhan has been nominated as the board member of the Global Alliance for Vaccines and Immunisation (GAVI). The seat is currently held by Myint Htwe of Myanmar. Dr Vardhan will represent the South East Area Regional Office (SEARO)/ Western Pacific Regional Office (WPRO) constituency on the GAVI Board.  Dr Vardhan will assume the charge with effect from January 1, 2021, and serve till December 31, 2023.

About GAVI: The vaccine alliance GAVI is an international organisation, that provides a forum for balanced strategic decision-making, innovation and partner collaboration. It was created to improve access to new and underused vaccines for numerous vaccine-preventable diseases for children who live in the world’s poorest countries. The GAVI board is responsible for the strategic direction and policy-making oversees the operations of the Vaccine Alliance and monitors programme implementation.

Note: GAVI Headquarters location: Geneva, Switzerland; GAVI Founded: January 2000.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. YES Bank appoints Niranjan Banodkar as new CFO: The private sector lender Yes Bank has appointed Niranjan Banodkar as its new Group Chief Financial Officer (CFO). He will take over from Anurag Adlakha, who has been designated as the new Chief Human Resources Officer (CHRO). Both of them will assume the new role with effect from January 1, 2021. Banodkar, who started working with Yes Bank in April 2006, is currently Group President & Head of Strategy, Sustainability & Investor Relations.

 

BUSINESS AND ECONOMY

 

1. ICICI Bank to acquire 9.09% stake in ed-tech platform Myclassboard Educational Solutions: Private sector lender ICICI Bank has announced to acquire 9.09 percent stake in educational technology platform Myclassboard Educational Solutions Pvt Ltd (MESPL) for cash value of Rs 4.5 crore. The acquisition is expected to be completed by end of February 2021. MESPL is an educational technology company set up in December 2009, which offers an online school management platform. It reported turnover of Rs 12 crore in FY 2020.

 

AWARDS AND HONOURS

 

1. K. Veeramani honoured with Dr. Narendra Dabholkar Memorial Award: The Dr Narendra Dabholkar Memorial Award for this year has been conferred upon Dravidar Kazhagam president K. Veeramani. The award was instituted in the memory of the Maharashtra-based rationalist Dabholkar. The U.S.-based Maharashtra Foundation had instituted the award in his memory, a release issued by the Dravidar Kazhagam. The award includes ₹1 lakh and a citation. Mr Veeramani has dedicated his whole life to propagate rationalism and served for the cause of social justice in society.

 

DEFENCE

 

1. Navy, DRDO conduct maiden trial of air dropped container ‘SAHAYAK-NG’: Defence Research and Development Organisation (DRDO) along with the Indian Navy conducted the successful maiden test trial of ‘SAHAYAK-NG’ India’s first indigenously designed and developed Air Dropped Container from IL 38SD aircraft (Indian Navy) off the coast of Goa. The trial was conducted by the Indian Navy to enhance its operational logistics capabilities and provide critical engineering stores to ships that are deployed more than 2000 kilometres from the coast.

About “SAHAYAK-NG”: SAHAYAK-NG is an advanced version of SAHAYAK Mk I. The newly developed GPS aided air dropped container is having the capability to carry a payload that weighs up to 50 kilograms and can be dropped from heavy aircraft. Two DRDO laboratories, Naval Science and Technological Laboratory, Visakhapatnam and Aerial Delivery Research and Development Establishment, Agra were involved in the development of the SAHAYAK-NG container along with the industry partner M/s Avantel for GPS integration.

Note: DRDO Chairman: Dr G. Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.

 

OBITUARIES

 

1. Veteran broadcaster Indira Joseph Venniyoor passes away: Veteran broadcaster, Indira Joseph Venniyoor passed away. She was a renowned broadcaster, All India Radio veteran & first English news announcer of Travancore Radio when its English service began in 1949. She was the wife of well-known literary scholar & art critic the late E.M.J. Venniyoor.

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.