Daily GK Updates – 16th Jan, 2021

 

NATIONAL UPDATES:

 

1. Kerala becomes 8th State to complete ease of doing business reforms: Kerala has become the 8th State in the country to successfully undertake “Ease of Doing Business” reform stipulated by the Department of Expenditure, Ministry of Finance. Kerala has become eligible to mobilise additional financial resources of Rs.2,373 crore through Open Market Borrowings. Permission for the same was issued by the Department of Expenditure on 12th January 2021. Kerala has now joined the seven other States namely, Andhra Pradesh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana, who have completed this reform. On completion of reforms facilitating ease of doing business, these eight States have been granted additional borrowing permission of Rs.23,149 crore.

Note: Kerala CM: Pinarayi Vijayan; Kerala Governor: Arif Mohammad Khan.

 

2. Naveen Patnaik inaugurates India’s first ‘Fire Park’ in Bhubaneswar: The Chief Minister of Odisha, Naveen Patnaik virtually inaugurated a first of its kind ‘Fire Park’, to educate and bring awareness on basic fire safety measures among the people, particularly the students. The ‘Fire Park’ is located inside the premises of the Odisha Fire and Disaster Academy in Bhubaneswar. The minister also launched an online portal, ‘AgnishamaSeva’ of Odisha Fire Service. The fire park will facilitate demonstrations on use of first aid fire-fighting equipment, rescue and disaster operations, visit the exhibition hall, screening of films and distribution of leaflets on fire safety.

What’s on the show: (1) Demonstrations on use of first aid fire-fighting equipment; (2) Demo on rescue and disaster operations; (3) Visit the exhibition hall; (4) Screening of films and distribution of leaflets on fire safety.

The Fire Park will be opened to the public on every Saturday from 3.30 pm to 5.30 pm

Note: Chief Minister of Odisha: Naveen Patnaik; Odisha Capital: Bhubaneswar; Odisha Governor: Ganeshi Lal.

 

3. NITI Aayog and Flipkart collaborate to enhance WEP: NITI Aayog and Flipkart, have come together to launch the revamped Women Entrepreneurship Platform. The Women Entrepreneurship Platform (WEP) is a unified access portal which brings together women from different parts of India to realise their entrepreneurial aspirations. The idea of the platform was first mooted by Amitabh Kant, CEO, NITI Aayog who announced the setting-up of a Women Entrepreneurship Platform in NITI Aayog at the conclusion of the 8th Global Entrepreneurship Summit (GES) held in Hyderabad in 2017, with an overarching theme of ‘Women first, prosperity for all’.

About the Women Entrepreneurship Platform: The revamped version shall also include an additional feature to offer mentorship to the women mentees with specific knowledge concerning a problem area through a dedicated online mechanism facilitated under FICCI-FLO’s Empowering the Greater 50% mission. Women entrepreneurs today face unique obstacles, from a lack of networking opportunities and mentors to the challenge of balancing work and family. When women come together or form communities, they are better equipped to tackle challenges that come their way. Shared experiences from mentors and professionals further help.

‘Community’ on the WEP platform aims to connect knowledge-seeking women entrepreneurs who have questions or seek clarifications on multiple aspects of setting up new businesses (like registering businesses, GST, funding, effects of the pandemic, etc.), or progressing already established businesses; to knowledge providing women entrepreneurs who have experience in setting up businesses and hence can contribute by solving queries.

Note: NITI Aayog Formed: 1 January 2015; NITI Aayog Headquarters: New Delhi; NITI Aayog Chairperson: Narendra Modi.

Flipkart headquarters: Bengaluru, Karnataka; Flipkart CEO: Kalyan Krishnamurthy.

 

INTERNATIONAL UPDATES:

 

1. Sadyr Japarov wins the presidential election in Kyrgyzstan: The frontrunner in Kyrgyzstan’s presidential election, Sadyr Japarov, has won by a landslide. According to the Central Election Commission, Mr Japarov had won 79% of votes cast. Mr Japarov, who served time in jail for taking a rival hostage, will also have sweeping new presidential powers after voters by a similar margin opted to amend the constitution in a referendum. Kyrgyzstan has been in crisis since parliamentary elections last October. The results of those elections were disputed, leading to protests and the resignation of then-President Sooronbay Jeenbekov.

Note: Kyrgyzstan Capital: Bishkek; Kyrgyzstan Currency: Kyrgyzstani som.

 

2. India ranks 4th in ‘Break Out Economies’: Rapidly digitalising India was ranked 4th in “Break Out Economies” in the third edition of the Digital Evolution Scorecard developed by Tufts University’s Fletcher School in partnership with Mastercard. China which leads the countries in the “Break Out Economies” group is more evolved digitally due mainly to its combination of rapidly growing demand and innovation. Third rank Indonesia, and India, which ranks number four in momentum, have displayed increasing digital momentum suggesting the potential to rapidly digitalise for both post-COVID economic recovery and longer-term transformation.

About “Break Out Economies”: “Break Out Economies” are those that are digitalising very quickly and yet have a lot of room to grow before matching those in the developed economies, such as those in Europe and in more developed Asian countries like Singapore, South Korea, and Hong Kong.

The objective of the Study: The objective of the study was to help governments, businesses and investors understand what they need to emerge ahead of the competition. To do this, the researchers analysed 90 economies based on a combination of 160 indicators across four supply key drivers: Supply Conditions, Demand Conditions, Institutional Environment, and Innovation and Change. A combination of proprietary and public data from more than 45 different databases, as well as analyses conducted by the Fletcher School’s Digital Planet team, was used to explore key questions across the core subject areas.

 

3. Google Doodle honours Basketball inventor Dr James Naismith: On January 15, 2021, Google Doodle honoured the illustrious legacy of Dr James Naismith, the inventor of the game of Basketball. The Canadian-American Dr James Naismith was indulged in many professions at the same time. He was a professor, sports coach, a doctor, a physical educator and a Christian Chaplain as well. 130 years ago, in 1891, Dr Naismith invented the game of Basketball and wrote its original 13 rules in the pages of a Springfield College newspaper, ‘The Triangle’. The game was introduced on December 21, 1891. In 1959, the Naismith Memorial Basketball Hall of Fame was introduced in Springfield, Massachusetts, in his honor, and he was an inaugural inductee.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI forms six-member working group to regulate digital lending frauds: The Reserve Bank of India (RBI) has set up a working group to study digital lending activities of the regulated and unregulated players, due to the growing instances of frauds in digital lending space. The group will suggest steps to regulate digital lending including online lending platform and mobile lending. The group will evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities.

The six-member panel comprises of following four RBI internal and two external members:

(1) Jayant Kumar Dash, Executive Director, RBI (Chairman)

(2) Ajay Kumar Choudhary, Chief General Manager-in-Charge, Department of Supervision (Member)

(3) P Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, RBI (Member)

(4) Manoranjan Mishra, Chief General Manager, Department of Regulation (Member Secretary)

(5) Vikram Mehta, Co-founder, Monexo Fintech (External Member)

(6) Rahul Sasi, Cyber Security Expert & Founder of CloudSEK (External Member)

 

2. IRDAI sets up panel to examine availability of health insurance products: Insurance regulator Insurance Regulatory and Development Authority (IRDAI) has set up a panel of experts called ‘Health Insurance Advisory Committee’ to examine the availability of health insurance products in the country, considering the need of the Indian society and recommend suitable products and processes. The expert committee will be headed by IRDAI Chairperson, Subhash Chandra Khuntia and will have a Member (Non-Life) as the vice-chairperson. The committee, which has a term of one year. Members of the committee include:

(1) Nachiket Mor (Visiting Scientist, Banyan Academy of Leadership in Mental Health),

(2) A K Chand (Professor and Neurosurgeon, Bangalore),

(3) B K Mohanti (Former Professor and Oncologist, AIIMS),

(4) K Hari Prasad (Anaesthetist, Hyderabad), and Pankaj Sharma (IRDAI).

Note: IRDAI Founded: 1999; IRDAI Headquarters: Hyderabad, Telangana.

 

BUSINESS AND ECONOMY

 

1. BofA Securities Projects GDP of India to Contract 6.7% in FY21: The BofA Securities expects the GDP growth of India for the current financial year 2020-21 to contract by 6.7 per cent. Apart from this, BofA Securities has projected the Indian economy to grow at 9 per cent in 2021-22 if the vaccine distribution is done in the first half of the new fiscal year, but it expects GDP growth prospects at just at 6 per cent if the distribution is delayed to the second half of 2021-22 (October-March).

Note: BofA Securities Headquarters: New York, New York, United States; BofA Securities Parent organization: Bank of America; BofA Securities Founded: 1 January 2009; BofA Securities  CEO: Brian T Moynihan.

 

2. UBS Projects GDP of India at -7.5% in 2020-21: Swiss brokerage major UBS Investment Bank has projected the Indian economy to contract 7.5 per cent in the current fiscal FY21, ending March 2021. UBS further expects the economy to rebound at 11.5 per cent in FY22. For the FY23, GDP growth is expected to stabilise at 6 per cent.

 

3. Nomura Estimates India’s GDP to contract 6.7% in FY21: The Japanese brokerage Nomura has revised upward, the GDP forecast for India in 2020-21 and now expects it to contract to 6.7 per cent. Nomura has further projected the GDP of India to rise to 13.5 per cent in FY22 (2021-22).

Note: Nomura President and Group CEO: Kentaro Okuda.

 

AWARDS AND HONOURS

 

1. AIIMS Bhubaneswar receives Kayakalp Award for 3rd time: The All India Institutes of Medical Sciences (AIIMS) in Bhubaneswar has proved its mettle once again for promoting cleanliness, hygiene and creating sustainable practices in public health facilities by winning the Kayakalp Award Scheme. AIIMS Bhubaneswar will get an award of Rs 2 crore for the performance.The institute has been adjudged as the best central government hospital under B category for cleanliness for a third consecutive year. It had earlier received the award in 2018 as well as in 2019 for becoming second cleanest hospital in the country among category B hospitals (less than 1000 beds) and received Rs one crore as prize money.

 

OBITUARIES

 

1. Social Activist and Padma Shri Awardee D Prakash Rao passes away: Noted social activist and Padma Shri winner, D Prakash Rao has passed away. He was basically a tea seller based in Cuttack, who spent his entire earning to educate slum children, through the school ‘Asha O Ashwasana’, which he started in 2000. He was conferred with the prestigious Padma Shri award in 2019 for his contribution towards boosting the value of education among slum kids in Cuttack. Apart from this, Rao was also a well-known blood donor.

Daily GK Updates – 15th Jan, 2021

 

NATIONAL UPDATES:

 

1. Prime Minister Modi to Chair High Level Committee constituted to commemorate the 125th birth anniversary of Netaji Subhas Chandra Bose: To commemorate the 125th Birth Anniversary of Netaji Subhas Chandra Bose, a High Level Committee (HLC) has been constituted. This HLC will be headed by the Prime Minister Shri Narendra Modi. The High Level Committee will decide about the various activities for a one year long commemoration, which shall begin from 23 January 2021.             The commemoration activities will be held in Delhi, Kolkata and other places associated with Netaji and Azad Hind Fauj, both in India as well as overseas. There are 85 members in this committee including ministers, distinguished citizens, historians, authors, experts, family members of Netaji Subhas Chandra Bose, as well as eminent persons associated with Azad Hind Fauj.

 

2. Punjab CM launches scheme for free sanitary pads to schoolgirls, dedicates month to girl child: Punjab Chief Minister Amarinder Singh announced a slew of welfare schemes, including free sanitary pads for girls studying in high school and colleges in the state. The CM dedicated the month of January to the girl child and paved the way for the distribution of 2,500 sports kits among youngsters. He also launched a programme to give property rights to slum dwellers and rolled out an over Rs 75-crore smart metering project besides an e-Daakhil portal for consumer complaints.

 

3. First ever Ice climbing festival celebrated in Nubra valley: In Leh, the first-ever Ice climbing festival was celebrated in Nubra valley. The Seven Day event was organized by Nubra Adventure Club. Ice climbing is a popular winter sport abroad. To promote winter tourism in Nubra valley, Nubra Adventure Club, with the help of Social activist Dr Nordan Otzer, has organized the Seven Day Ice Climbing Festival. Trainer Rigzin Tsewang said that Nubra has the potential to be the ice climbing capital in the Himalayas.

18 participants across Nubra valley including 4 women have taken part in Ice climbing. All were trained in basic ice climbing skills during the festival at three locations, Pudong Cake at Panamik, Artificial Glacier at Ayee Village and first ascent at ” Nubra Adventure Club Crag” located near Warshi Village. Three trainers Rigzin tsewang, Tsewang Namgyal and Kran Kowshik imparted ice climbing skills. Participants were awarded certificates as well.

 

4. Centre approves new National Highway projects worth Rs 5,801 cr for Maharashtra: Union Minister for Road Transport and Highways Nitin Gandkari said that the Centre has approved new National Highway projects worth Rs 5,801 crore rupees for Maharashtra under the Annual Plan. The project includes improving and developing 1035 km of National Highways in the State. In addition, Rs 1,800 crore projects under the Central Road Fund scheme has also been sanctioned. The Minister also informed that 1 lakh Crore Greenfield Delhi-Mumbai Expressway will be extended till JNPT, to facilitate container traffic.

 

5. A book titled “The Population Myth: Islam, Family Planning and Politics in India” by Ex-CEC: Former chief election commissioner (CEC) S Y Quraishi has come out with his book titled “The Population Myth: Islam, Family Planning and Politics in India”. The book will hit the stands on February 15, 2021. It has been published by HarperCollins India.

The essence of the book: The book evaluates India’s demographics from a religious perspective and seeks to demolish two basic myths that ‘Islam is against family planning’ and ”Muslim rate of growth” is linked to capture political power. The book is a detailed analysis of the ‘Muslim rate of growth’ in the light of population data and national and international reports.

The book examines the crucial and urgent question of the politicisation of demography in India.

 

6. Indian Army Day: 15th January: The Army Day in India is celebrated on 15 January every year, to salute the valiant soldiers who sacrificed their lives to protect the country and its citizens. This year marks the 73rd Indian Army Day. The Army Day is celebrated at all Army Command headquarters to honour our country’s soldiers who set the greatest example of selfless service and brotherhood, and above all, love for the country.

History of Army Day in India: The day is marked to commemorate the day when General (later Field Marshal) KM Carriappa took over the command of Army from General Sir FRR Bucher, the last British Commander-in-Chief in 1949 and became the first Commander-in-Chief of Indian Army post Independence.

Note: 28th Chief of Army Staff: General Manoj Mukund Naravane.

 

INTERNATIONAL UPDATES:

 

1. Bharat Biotech inks pact with Precisa Med to supply Covaxin to Brazil: Bharat Biotech has announced that it has signed an agreement with Precisa Medicamentos for the supply of its indigenously manufactured Covid-19 vaccine ‘Covaxin’ to Brazil. The supplies of Covaxin will be prioritized for the public market, through direct procurement by Brazil government.

A team from Precisa Medicamentos had visited the Bharat Biotech facility in Genome Valley near here last week to discuss export of COVAXIN, India’s first indigenous vaccine for Covid-19.

Note: Bharat Biotech Founded: 1996; Bharat Biotech Headquarters location: Hyderabad; Bharat Biotech Executive director: Dr V Krishna Mohan.

 

2. India Provides 30.66 Cr Rupees to Nepal as Part of Post-quake Aid to Build Educational Institutions: India provided a grant assistance of 30.66 crore Nepalese Rupees (nearly INR 19.21 crore) to Nepal as part of its commitment towards reconstruction of educational institutions damaged during the 2015 earthquake. With this, India has reimbursed an amount of NRs 819.8 million (NRs 81.98 crore/INR 51.37 crore) to Nepal towards educational sector reconstruction projects.

 

OTHER UPDATES:

 

BANKING AND FINANCE

                        

1. RBI slaps Rs 2 crore fine on Deutsche Bank for non-compliance: The Reserve Bank of India has imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain provisions of directions concerning interest rate on deposits. The central bank said the statutory inspection of Deutsche Bank’s financial position as on March 31, 2019, and the Risk Assessment Report revealed non-compliance with the ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’. The action was based on the deficiencies in regulatory compliance and was not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Note: Deutsche Bank CEO: Christian Sewing; Deutsche Bank Headquarters: Frankfurt, Germany; Deutsche Bank Founded: 10 March 1870.

 

2. BoB inks pact with SIDBI to help MSME revamp loans: Bank of Baroda (BoB) has signed a memorandum of understanding (MOU) with Small Industries Development Bank of India (SIDBI) to support MSME enterprises through a web-based platform called ‘Asset Restructuring Module for MSMEs (ARM-MSME)’ for submission of their loan restructuring proposal. Through this automated / Do-It-Yourself (DIY) web-portal, MSMEs can self-create their restructuring proposal with financial viability projections and relief options. This initiative is the ‘first-of-its-kind’ to help MSMEs prepare their restructuring proposals by keying in only the most essential data of their past and projected financials.

 

3. PhonePe ties up with ICICI Prudential Life Insurance, launches term plans: PhonePe, India’s leading digital payments platform, announced the launch of Term Life Insurance plans on its platform, in association with ICICI Prudential Life Insurance. With this launch, millions of PhonePe users can now protect their families from financial turmoil in the event of an untimely demise. The premiums begin from as little as Rs 149 each year. This coverage will be availed immediately on the PhonePe app with none well being check-ups and paperwork by way of an all-digital buyer expertise. PhonePe’s customers aged 18 to 50 years and incomes Rs 1 lakh each year or above can avail this coverage immediately on the platform.

 

BUSINESS AND ECONOMY

 

1. Flipkart signs MoU to set up Centre of Excellence in logistics skill: Flipkart, e-commerce Marketplace Company, has signed an memorandum of understanding with the Logistics Skill Sector Council (LSC), an organisation set up by the Ministry of Skill Development and Entrepreneurship (MSDE) through National Skill Development Corporation of India (NSDC) and Karnataka Skill Development Centre (KSDC). As part of the MoU, Flipkart has launched an industry-first Centre of Excellence to build a skilled and trained workforce for the fast-growing e-commerce industry in India. Upon successful completion of the training, candidates will be awarded certification under the National Skill Qualification Framework which is equivalent to an undergraduate degree.

 

2. Dell Technologies collaborates With MoHFW and Tata Trusts to launch new Mobile App for Non-Communicable Diseases Across India: Dell Technologies in collaboration with Ministry of Health and Family Welfare (MoHFW) and Tata Trusts announced they have developed a mobile application for the management of non-communicable diseases (NCDs) at the government primary health centres (PHCs) across the country. The mobile app will strengthen the existing NCD IT system’s suite of six applications for accredited social health activists (ASHAs), auxiliary nurse midwifes (ANMs), doctors, programme managers and health officials in the government.

 

OBITUARIES

 

1. Legendary tennis coach Bob Brett passes away: Bob Brett, a tennis coach whose players included Grand Slam champions Boris Becker, Goran Ivanisevic and Marin Cilic, has died at the age of 67. Brett received the ATP’s Tim Gullickson Career Coach award in November. In  addition to his work with Becker, Ivanisevic, Cilic and other individual players, Brett coached for national tennis associations in Britain, Japan and Canada. He also opened a private tennis academy in San Remo, Italy.

 

2. Congress Leader and Former Kerala Minister Ramachandran passes away: Veteran Congress leader and former state minister of Kerala, K K Ramachandran has passed away following a heart attack. He was 84. Popularly known as Ramachandran Master, he had represented the party as an MLA six times, which included three times from Kalpetta and thrice from Sultan Bathery Assembly constituency. Ramachandran was Minister for Food & Civil Supplies in the A K Antony Government from 1995 and Health Minister in the Oommen Chandy Government from 2004. He resigned in 2006 and later in 2011, following differences of opinion with the party, he was ousted from Congress party.

Daily GK Updates – 14th Jan, 2021

 

NATIONAL UPDATES:

 

1. First time in history, Union Budget 2021 to be paperless: Union Budget 2021, slated to be presented on February 1, is going to be completely paperless in the wake of the ongoing coronavirus pandemic. This will be the first time since independence that the budget papers will not be printed. The Centre has received permission for the same from both houses of parliament. The decision has been taken as several people (approximately 100) would be required to stay at the printing press for around a fortnight amid the COVID-19 fear.

The budget papers are usually printed at the ministry’s in-house printing press in the North Block. This year’s budget may reportedly witness several conventions being broken as the traditional ‘Halwa’ ceremony, which is a given every year is also not likely to take place, or a low-key function may be held with limited gathering in attendance.

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

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

 

2. Suriname’s Indian-origin President to be Republic Day chief guest: President of the Republic of Suriname, Chandrikapersad Santokhi, will be the chief guest at India’s Republic Day parade on January 26. India had initially invited Boris Johnson to be the chief guest but the British PM had to cancel his visit in view of the grim coronavirus situation back home. Earlier this week, Santokhi was the chief guest at the Pravasi Bharatiya Divas Convention, held by the Ministry of External Affairs and he delivered the keynote address. He was sworn in as the president of Suriname in July 2020, when his party, the Progressive Reform Party, won 20 of the 51 seats in the elections.

Note: Suriname Capital: Paramaribo; Suriname Currency: Suriname Dollar; Suriname Continent: South America.

 

3. Manipur: CM Biren Singh virtually inaugurated Cherry Blossom Festival: The 4th edition of the Cherry Blossom Festival, Mao in Manipur was virtually inaugurated by Chief Minister N Biren Singh. However this year, the authority decided to scale down the festival due to the COVID-19 pandemic. The Festival featured the picturesque landscape of Mao adorned with beautiful cherry trees laden with blooming flowers which have traditionally attracted visitors from across the world.

About the festival: Manipur has been celebrating the festival every year since 2017. The festival which featured the picturesque landscape of Mao town adorned with beautiful Cherry Blossom flowers was streamed live from 2 pm on various social media platforms. The Mao area of Senapati district in Manipur is known for Cherry Blossom, a plant which is popularly known as Sakura in Japan.

Note: Chief Minister of Manipur: N. Biren Singh; Governor: Najma Heptulla.

 

4. Armed Forces Veterans Day: 14th January: In India, the Armed Forces Veterans Day is observed each year on 14 January since 2017 to acknowledge and honour the selfless devotion and sacrifice of our veterans in the service of the nation. The day was initially called Armistice Day. 2021 marks the 5th Armed Forces Veterans Day. The day is observed as a mark of respect and recognition of the services rendered by Field Marshal KM Cariappa OBE, the first Indian Commander-in-Chief of the Indian Armed Forces who retired on 14 January 1953.

 

5. Manipur Guv released book “Making of a General A Himalayan Echo”: Manipur Governor, Dr Najma Heptulla has virtually released a book titled “Making of a General-A Himalayan Echo” authored by (Retd) Lt General Konsam Himalaya Singh at Durbar Hall, Raj Bhavan, Imphal. The book elegantly summons the essence and imperatives of superior command of one of the most formidable forces in the world.

The essence of the book: The book is the memoir of Lt Gen (Dr) Konsam Himalay Singh who has traced his journey from a small village in Manipur to becoming the first person from North East India to hold the rank of a Three-Star General of the Indian Army. The book has also highlighted about Manipur, the “Land of Emeralds”.

 

INTERNATIONAL UPDATES:

 

1. India Ranks 85 in Henley Passport Index 2021: The Henley Passport Index 2021 has been released by Henley & Partners, based on the exclusive data from the International Air Transport Association (IATA). As per the latest report, India has been ranked 85th among 110 countries, in the Henley Passport Index for 2021, with a visa-free score of 58. The index presents the original ranking of the world’s most powerful passports, according to the number of destinations their holders can access without a prior visa.

Japan has once again topped the list of being the most powerful passport in the world, for the third consecutive year. Japanese citizens can travel to as many as 191 countries visa-free. Singapore is in second place (190) and South Korea ties with Germany in third place (189). Syria, Iraq and Afghanistan are the countries with the worst passport, with a passport score of 29, 28 and 26 respectively.

Note: International Air Transport Association Headquarters: Montreal, Canada; International Air Transport Association Founded: 19 April 1945; International Air Transport Association Leader: William M. Walsh.

Henley & Partners Headquarters location: London, United Kingdom; Henley & Partners Founded: 1997; Henley & Partners Chairman: Christian Kalin; Henley & Partners CEO: Juerg Steffen.

 

2. France hosts 4th One Planet Summit: The Government of France organised the fourth ‘One Planet Summit’, through videoconferencing, which aimed at protecting the world’s biodiversity. The Summit was organised in cooperation with the United Nations and the World Bank. The theme of the Summit was “Let’s act together for nature!”. It was inaugurated by the Secretary-General of the United Nations António Guterres, French President Emmanuel Macron, and President of the World Bank Group David Malpass. The Summit focused on biodiversity preservation through: (1) The protection of terrestrial and marine ecosystems,

(2) The promotion of agroecology,

(3) The mobilization of funding for biodiversity, and

(4) The link between deforestation, species and human health.

Note: France Capital: Paris; France President: Emmanuel Macron; France Prime minister: Jean Castex; France Currency: Euro.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI cancels the licence of Vasantdada Nagari Sahakari Bank: The Reserve Bank of India (RBI) has cancelled the licence of Maharashtra-based Vasantdada Nagari Sahakari Bank, with immediate effect. Vasantdada Nagari Sahakari Bank Ltd will now not be allowed to conduct the business of ‘banking’, including acceptance of deposits and repayment of deposits, with effect from the close of business on January 11, 2021. RBI has requested the Commissioner for Cooperation and Registrar of Cooperative Societies (RCS), Maharashtra to issue an order for winding up the bank and appoint a liquidator for the bank.

Reason of Cancellation: The Bank has failed to comply with the requirements of Section 11(1) read with Section 56 of BR Act and thus would be unable to pay its present depositors in full in its current financial position.

Consumer interest protected: With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of Vasantdada Nagari Sahakari Bank Ltd., Osmanabad, Maharashtra as per the DICGC Act, 1961 will be set in motion. Every depositor is entitled to repayment of his/her deposits up to Rs 5,00,000 from the DICGC. More than 99% of the depositors of the bank will get full repayment of their deposits from DICGC.

Note: Deposit Insurance and Credit Guarantee Corporation Establishment: 1978; Deposit Insurance and Credit Guarantee CorporationChairman: Michael Debabrata Patra (Deputy Governor, RBI); Deposit Insurance and Credit Guarantee Corporation Headquarter: Mumbai, Maharashtra.

Reserve Bank of India (RBI) Headquarters: Mumbai, Maharashtra; Reserve Bank of India Establishment: 1 April 1935; Reserve Bank of India Governor: Shaktikanta Das; Reserve Bank of India Deputy Governors: 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao).

 

2. RBI sets Rs 345 crore corpus for developing payment infrastructure in rural India: The Reserve Bank of India announced the operationalization of the Payment Investment Development Fund (PIDF) with an initial corpus of Rs 345 crore for three years – extendable up to an additional two more years. The objective of PIDF is to increase the number of acceptance devices multi-fold in the country. The Scheme is expected to benefit the acquiring banks / non-banks and merchants by lowering overall acceptance infrastructure cost. The fund will be used for adding 30 lakh digital payments touch points which would include 10 lakh physical and 20 lakh digital payment acceptance devices every year with a special focus on tier 3 to tier 6 regions and the north-eastern states.

 

BUSINESS AND ECONOMY

 

1. India’s retail inflation drops to 4.59 % in December: India’s retail inflation fell sharply to 4.59 per cent in December, mainly due to declining food prices, government data showed. Retail inflation based on the Consumer Price Index (CPI) was 6.93 per cent in November. Food inflation declined to 3.41 per cent in December in 2020, compared to 9.5 per cent in the previous month, according to the data released by the Ministry of Statistics and Programme Implementation. The Reserve Bank of India (RBI) factors in retail inflation while arriving at its monetary policy.

 

DEFENCE

 

1. Dr Ajay Kumar co-chairs 13th India-Vietnam Defence Security Dialogue: The 13th India-Vietnam Defence Security Dialogue was held in a virtual format. The virtual event was co-chaired by Defence Secretary Dr Ajay Kumar along with Vietnamese Sr Lt Gen Nguyen Chi Vinh, Deputy Defence Minister, Socialist Republic of Vietnam. During their virtual interaction:

(1) Defence Secretary and the Deputy Defence Minister expressed satisfaction at the ongoing defence cooperation between the two countries in spite of the limitations imposed by COVID 19.

(2) Both countries exchanged views on the plan of action from the recently concluded Virtual Summit between Prime Minister Shri Narendra Modi and Prime Minister of the Socialist Republic of Vietnam H.E. Nguyen Xuan Phuc in December 2020.

(3) Both the sides reviewed the progress on various bilateral defence cooperation initiatives and expressed commitment to further elevate engagements between the Armed Forces under the framework of the Comprehensive Strategic Partnership.

(4) Both sides agreed that in the recent past our respective countries have made notable strides in Defence Industry and Technology cooperation and look forward to even greater cooperation in this field.

Note: Vietnam Capital: Hanoi; Vietnam Currency: Vietnamese dong; Vietnam Prime Minister: Nguyen Xuan Phuc.

 

OBITUARIES

 

1. Former Mali PM Modibo Keita passes away: Mali’s former prime minister Modibo Keita has died at the age of 78. Keita, who served as prime minister from 2015 to 2017.  He was one of six prime ministers to serve under President Ibrahim Boubacar Keita, who was ousted in a coup in August. From 2014 until his appointment as prime minister, Modibo Keita had been the president’s representative for peace talks between the government and Tuareg rebel groups waging an insurgency in the country’s conflict-ravaged north.

 

2. Indian American writer Ved Mehta passes away: Indian American writer Ved Mehta passed away. The Indian-American novelist overcame blindness & was widely known as the 20th-century writer most responsible for introducing American readers to India. Ved Mehta, a longtime writer for The New Yorker whose best-known work, spanning a dozen volumes, explored the vast, turbulent history of modern India through the intimate lens of his own autobiography.

Daily GK Updates – 13th Jan, 2021

 

NATIONAL UPDATES:

 

1. Nitin Gadkari to launch “Khadi Prakritik Paint” developed by KVIC: Union Road Transport and Highways Minister Nitin Gadkari will be launching an innovative new paint developed by Khadi and Village Industries Commission. The eco-friendly, non-toxic paint, called “Khadi Prakritik Paint” is a first-of-its-kind product, with anti-fungal, anti-bacterial properties.

About the Paint: Based on cow dung as its main ingredient, the paint is cost-effective and odourless and has been certified by the Bureau of Indian Standards. Khadi Prakritik Paint is available in two forms – distemper paint and plastic emulsion paint. Production of Khadi Prakritik Paint is aligned with Prime Minister’s vision of increasing farmers’ income.

 

2. RS Sharma to head empowered panel for Covid-19 vaccine: The Union government has appointed RS Sharma, former Trai chief, as the chairperson of an empowered committee for the administration of Covid-19 vaccine. A ten-member team has been constituted to be headed by Sharma. This has come days ahead of the mega vaccination drive is to start in India. He has also been included as a member of the National Expert Group on Vaccine Administration of Covid-19 that was formed in August 2020.

About the committee: RS Sharma was the first person to officially initiate a discussion on vaccination delivery in the government in the summer of 2020 when Covid-19 cases peaked. The top health ministry and UIDAI officials are part of the empowered committee. The panel can invite eminent persons as and when required to ensure delivery of the vaccine through the Co-Win technology platform.

 

3. National Road Safety Month 2021: 18 January – 17 February: The Ministry of Road Transport & Highways observes the National Road Safety Week every year in the second week of January. However, in 2021, the Government has decided to observe National Road Safety Month instead of National Road Safety Week.

Accordingly, the National Road Safety Month will be observed from 18th January, 2021′ to 17th February’ 2021. During this period nation-wide various activities will be conducted throughout the country in association with the Central/ State Governments/ UT administrations, and other stakeholders.

 

INTERNATIONAL UPDATES:

 

1. India’s 7th Trade Policy Review (TPR) at WTO: The second session of the 7th Trade Policy Review (TPR) of India concluded at the World Trade Organization (WTO). This was the final session of the 7th trade policy review. Trade Policy Review is a key mechanism under the monitoring function of WTO. During this trade policy review, WTO examines the trade and related policies of the member countries with an aim to improve their adherence to WTO rules and to provide constructive feedback. Important Points Trade Policy Review (TPR) of India:

(1) The official delegation of India for the 7th TPR was headed by Anup Wadhawan, the Commerce Secretary.

(2) The Commerce Secretary responded to all the issues rose by the Members during the 1st TPR session of India.

(3) The Commerce Secretary also urged the members to provide a permanent solution to Public Stock Holding (PSH) for food security.

(4) India is committed to simplify and streamline the overall domestic business environment and has an aim to make a place in the top 50 in the World Bank’s Doing Business Report.

(5) Before this, the last Trade Policy Review of India was held in the year 2015.

About World Trade Organization: WTO is an organization that regulates international trade between countries. It was established in the year 1955 and is headquartered in Geneva, Switzerland. It has 164 members at present.

 

2. Bangladesh declared as ‘Country in Focus’ for 51st IFFI: Bangladesh has been chosen as the ‘Country in Focus’ for the 51st International Film Festival of India (IFFI). The festival will be held at Goa from January 16 to January 24, 2021. The Country in Focus is a special segment that recognizes the cinematic excellence and contributions of the country. This section at the 51st IFFI will showcase four films from Bangladesh.

History of International Film Festival of India: The International Film Festival of India (IFFI), is being held annually since 1952, in Goa. The event is organised jointly by the Directorate of Film Festivals (under Ministry of Information and Broadcasting) and the state Government of Goa.

Note: Prime Minister of Bangladesh: Sheikh Hasina; Capital: Dhaka; Currency: Taka; President of Bangladesh: Abdul Hamid.

                                        

3. Oldest living Olympic champion Agnes Keleti turns 100: The oldest surviving Olympic champion, Ágnes Keleti, celebrates her 100th birthday. She is one of her country’s most successful Olympians, having won 10 medals for Hungary in gymnastics, at the Olympic Games Helsinki 1952 and Melbourne 1956. Her haul included five golds. Keleti won the floor event in Finland before producing an astonishing display in Australia, winning four golds – in the uneven bars, balance beam, floor, and team event. At 35, she became the oldest female gymnast to win an Olympic title.

 

OTHER UPDATES:

 

SPORTS

 

1. Dhaka Marathon 2021: Jigmet Dolma from Ladakh wins 4th position: Jigmet Dolma from India secured the fourth position in the Dhaka Marathon 2021. Jigmet Dolma is an SPO of Ladakh police. In the marathon, Hicham Lakohi of Morocco came first in the elite competition of the marathon in men’s category while Angela Jim Asunde from Kenya won the women’s category in the same event.  In the full marathon, among the SAARC and local runners, Bahadur Singh of India became the champion in the men’s category and Pushpa Bhandari of Nepal became the champion in the women’s category.

History of Marathon: The marathon was organized to commemorate the return of Bangabandhu Sheikh Mujibur Rahman from Pakistan jail to Bangladesh in 1972. The full marathon covered 42.19 kilometres while the half marathon covered 21.09 kilometres. Athletes from all over the world including India, Morocco, Kenya, France, Nepal, Ethiopia among others participated in various categories of the event. Home Minister of Bangladesh Asaduzzaman Khan inaugurated the event at Dhaka Army Stadium.

 

2. Jay Shah named BCCI’s Official Representative on ICC Board: Jay Shah has been named as the official representative of Board of Control for Cricket in India (BCCI) for the International Cricket Council (ICC) Board meetings. Shah is the Secretary of the Board of Control for Cricket in India (BCCI). He will replace BCCI president Sourav Ganguly, who was currently representing India at the ICC Board, but he suffered a heart condition recently and had to be admitted to hospital where he underwent primary angioplasty.

Note: President of BCCI: Sourav Ganguly; Headquarters of BCCI: Mumbai, Maharashtra; Founded: December 1928.

 

BUSINESS AND ECONOMY

 

1. ICRA Projects India’s real GDP to expand by 10.1% in FY22: Domestic rating agency ICRA Ratings expects the real gross domestic product (GDP) of India to grow by 10.1% in the financial year 2021-22 (FY2022). The rating agency ICRA had earlier projected a contraction of 7.8% for the ongoing fiscal 2020-21. The seemingly-sharp expansion will be led by the continued normalisation in economic activities as the rollout of Covid-19 vaccines gathers traction and the low base.

Note: ICRA Headquarters: Gurgaon, Haryana; ICRA Non-Executive Chairman and Director: Arun Duggal.

 

DEFENCE

 

1. Coastal defence exercise “Sea Vigil 21” kicks off: A major exercise to test military readiness at sea along the coastline of the country starts. This is the second edition of the biennial pan-India coastal defence exercise “Sea Vigil-21” will be conducted on January 12 and 13. The two-day exercise involving all stakeholders, states and Central government agencies will set the tempo of operations, including “transition from peace to conflict”.  The exercise is a build-up towards the next step and level exercise called “Tropex” (Theatre-level Readiness Operational Exercise), which is expected to be conducted at month-end or early February. Ministries of Defence, Home Affairs, Shipping, Petroleum and Natural Gas, Fisheries and Customs, state governments and other agencies of Centre and state are coordinating. About the exercise:

(1) The exercise, inaugural edition of which was conducted in January 2019, will be undertaken along the entire 7,516-km coastline and Exclusive Economic Zone of India.

(2) It will involve all 13 coastal states and Union Territories along with other maritime stakeholders, including the fishing and coastal communities.

(3) Exercise ‘Sea Vigil-21’ is expected to provide a realistic assessment of our strengths and weaknesses and thus will help in further strengthening maritime and national security. The exercise is being coordinated by the Indian Navy.

(4) The entire coastal security set up was re-organised after the 26/11 terror attack at Mumbai which was launched using the sea route.

(5) Assets of the Indian Navy, Coast Guard, Customs and other maritime agencies will participate in the exercise.

Note: Chief of Naval Staff: Admiral Karambir Singh; Indian Navy Founded: 26 January 1950.

 

OBITUARIES

 

1. Padma Shri Awardee Telugu Journalist Turlapati Kutumba Rao passes away: Veteran journalist and orator (public speaker) Sri Turlapati Kutumba Rao has passed away. He is known for his service to journalism in the Telugu language. He has written over 4000 biographies and delivered over 16000 public speeches which have been recorded by the Telugu Book of Records as a world record. Rao has received a number of honour for his field of work, including the fourth highest Indian civilian award of Padma Shri, in 2002, making him the first journalist from the state of Andhra Pradesh to receive the award.

 

2. Pulitzer Prize-winning author & journalist Neil Sheehan passes away: Pulitzer Prize-winning author & journalist Neil Sheehan passed away. He covered the Vietnam War for United Press International and the Times from 1962 to 1966. He won a Pulitzer Prize and a National Book Award in 1989 for “A Bright Shining Lie: John Paul Vann and America in Vietnam.”