Daily GK Updates – 18th Jan, 2021

                                        NATIONAL UPDATES:

 

1. Centre launches Pradhan Mantri Kaushal Vikas Yojana 3.0: The Government of India launched the third phase of Pradhan Mantri Kaushal Vikas Yojana on 15 January 2021. The scheme has been rolled out for the current financial year, ending March 2021, and will be implemented by the Ministry of Skill Development and Entrepreneurship.

About Pradhan Mantri Kaushal Vikas Yojana-3.0: Under the Pradhan Mantri Kaushal Vikas Yojana-3.0, skills training would be provided in 600 districts across all states, (except four states including Himachal Pradesh, Chhattisgarh and West Bengal) to 8 lakh candidates over next three months with an outlay of Rs 948.90 crore with a focus on Covid-related skills. The training will be imparted through 729 Pradhan Mantri Kaushal Kendras (PMKKs), empanelled non-PMKK training centres and more than 200 industrial training institutes (ITIs). Further, a five-year PMKVY will be launched in 2021-22 with an enhanced target of skilling 1.5 crore youth.

Note: Minister of Skill Development and Entrepreneurship: Mahendra Nath Pandey.

 

2. Piyush Goyal inaugurates the ‘Prarambh: Startup India International Summit’: The Union Minister of Commerce and Industry, Consumer Affairs and Food and Public Distribution, Piyush Goyal has inaugurated the two-day ‘Prarambh’, Startup India International Summit in New Delhi on 15 January 2021. The Summit has been organized by the Department for Promotion of Industry and Internal Trade (DPIIT), under M/o Commerce & Industry.

About the summit: The inaugural event was participated by the members of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) countries. The ‘Prarambh’ Summit will provide a platform to the startups and young minds from around the world to come together and collaborate to work collectively to come with new ideas, innovation and invention. The focus of the Summit will be on enhancing multilateral cooperation and engagement with countries from around the globe to collectively develop and strengthen the startup ecosystems. The Summit marks the fifth anniversary of the Startup India initiative, launched by the Prime Minister on 16 January 2016.

 

3. Rajnath Singh unveils India’s 1st indigenously developed driverless metro car: Union Defence Minister, Rajnath Singh has unveiled India’s first ‘Driverless Metro Car’ on 15 January 2021 during a function held at BEML’s Bangalore Complex. The indigenously designed & developed state-of-the-art Driverless Metro trains are being manufactured at BEML Bangaluru manufacturing facility, for Mumbai Metropolitan Region Development Authority (MMRDA). BEML recently opened its Depot office at Charkop Metro Depot, MMRDA, Mumbai for commissioning, testing and round-the-clock services for Driverless Metro cars. BEML bagged a total order of 576 cars for Mumbai Metropolitan Region Development Authority (MMRDA)’s MRS1 project and the supply is scheduled progressively up to January 2024.

 

4. ISRO to adopt 100 Atal Tinkering Labs across country to promote education: Indian Space Research Organisation, ISRO will adopt one hundred Atal Tinkering Labs across the country to promote education in the field of Space Education and Space Technology related innovations for school students. The collaboration between NITI Aayog and Indian Space Research Organization is one of the prime examples of such effort. An Atal Tinkering Lab provides a makerspace where young minds can give shape to their ideas through hands on do-it-yourself mode and learn innovation skills.

 

INTERNATIONAL UPDATES:

 

1. Indian-American Garima Verma named digital director in Office of the First Lady: Incoming First Lady, Jill Biden has named Indian-American Garima Verma as her digital director and Michael LaRosa press secretary, the Biden transition team has announced.  She served as audience development and content strategist on the Biden-Harris campaign. Before joining the campaign, Verma was a volunteer with the content team, designing graphics for distribution to Biden-Harris volunteers across the country.

About Garima Verma: Verma, who was born in India, grew up in Ohio and the Central Valley of California. She previously worked in the entertainment space, marketing films at Paramount Pictures and television shows at The Walt Disney Company’s ABC Network, and media agency Horizon Media. Verma has also served as an independent consultant in marketing, design and digital for a number of small business and non-profit clients.

 

2. UN Rights Body elects Fiji in First Ever Presidential Vote: The UN Human Rights Council elected Fiji’s ambassador as its 2021 president in an unprecedented secret ballot after a diplomatic stand-off blocked the usual consensus decision. Fiji’s ambassador in Geneva, Nazhat Shameem Khan, who served as the council’s vice president in 2020 and is considered a rights champion, won with 29 out of 47 votes.

She ran against two other candidates from the UN’s Asia-Pacific regional group of countries: Bahrain’s ambassador Yusuf Abdulkarim Bucheeri and his counterpart from Uzbekistan, Ulugbek Lapasov, who received 14 and four votes respectively. The president mainly oversees council meetings but is also in charge of appointing the independent experts who investigate countries’ alleged rights abuses and can determine how hard to crack down on cases of state intimidation against those who cooperate with the body.

Note: UN Human Rights Council Founded: 15 March 2006; UN Human Rights Council Headquarters: Geneva, Switzerland.

 

3. India and Japan inks MoU to enhance cooperation in ICT: India and Japan have signed an MoU to enhance cooperation in the field of Information and Communications Technologies (ICT) via videoconferencing. The MoU was signed between Union Minister for Communications, Electronics and IT Ravi Shankar Prasad and the Japanese Minister for Internal Affairs and Communications Takeda Ryota.

Under the MoU: Both countries will enhance mutual cooperation in the field of 5G technologies, telecom security, submarine optical fibre cable system to islands of India, spectrum management, smart cities, high altitude platform for broadband in unconnected areas, disaster management and public safety etc.

Note: Japan Capital: Tokyo; Japan Currency: Japanese yen; Japan Prime minister: Yoshihide Suga.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. YES Bank launches wellness themed credit card: Yes Bank has announced its partnership with Aditya Birla Wellness Private Limited to launch the ‘YES BANK Wellness’ and ‘YES BANK Wellness Plus’ Credit Cards – aimed at the holistic health, self-care and wellness of consumers. This is an innovative step to encourage and promote self-care, mental and physical well-being.

About the Initiative: Consumers can now enjoy the bouquet of complementary health benefits by simply registering on the Aditya Birla Multiply App. Benefits include reward points, diet plans, consultations etc The mobile app allows consumers to avail complimentary benefits such as annual health check-up, round the clock doctor or counsellor helpline, in-studio or home-based workout sessions, personalized diet plans, among others, right at their fingertips.

Note: YES bank HQ: Mumbai, Maharashtra; YES bank MD & CEO: Prashant Kumar.

 

2. ICICI Bank ties up with fintech Niyo to issue prepaid cards to MSMEs: ICICI Bank, a leading Indian private sector bank, and Niyo, a new age fintech company announced a tie-up to issue prepaid cards to Micro, Small and Medium Enterprises (MSMEs) workers. MSMEs will now be able to get ‘ICICI Bank Niyo Bharat Payroll Card’ powered by Visa, for their blue-collar workers. Benefits include:

(1) With this, MSMEs can upload the salaries of their workers on the card, which the workers can then utilise as per their need seamlessly.

(2) These workers are mostly under-banked and are deprived of banking facilities.

(3) The ‘ICICI Bank Niyo Bharat Payroll Card’ allows an individual to receive funds up to Rs 1 lakh into the card account. It offers convenience and safety of digital banking to the blue-collar workforce while providing a state-of-the-art salary disbursement solution to the employers.

(4) Any MSME can tie-up with Niyo to avail of the prepaid card. After the tie-up, cards are issued to the workers at their workplace itself while their KYC verification is done simultaneously using a biometric device.

(5) Once activated, workers can use the card to withdraw funds at ATMs, make online transactions on e-commerce portals and make payment by swiping the card at Point of Sale (PoS) machines.

Note: ICICI Bank Headquarters: Mumbai, Maharashtra; ICICI Bank MD & CEO: Sandeep Bakhshi; ICICI Bank Tagline: Hum Hai Na, Khayal Apka.

 

BUSINESS AND ECONOMY

 

1. TEPC appoints Sandeep Aggarwal as new Chairman: The Telecom Equipment and Services Export Promotion Council (TEPC) has appointed Sandeep Aggarwal as the new Chairman. Aggarwal, the Managing Director and Promoter of Delhi-based Paramount Communications, will take over from Shyamal Ghosh, ex-Telecom Secretary. TEPC is an independent body set up by the government to promote and develop the export of telecom equipment and services.

 

2. CCI approves Manipal Health’s 100% acquisition of Columbia Asia Hospitals: The Competition Commission of India (CCI) gave its approval to Manipal Health Enterprises Pvt Ltd (MHEPL) for the acquisition of 100% shareholding in Columbia Asia Hospitals Pvt Ltd. The development comes after the Bengaluru-based MEHPL had entered into a share purchase agreement with the US-based hospital chain in October last year. The deal was valued at Rs 2,100 crore. The focus is to develop an affordable, high quality healthcare framework through its multi-specialty and tertiary care delivery spectrum and further extend it to homecare.

 

3. Airtel, NSIC partner to digitally transform small businesses: Telecom major Bharti Airtel announced its partnership with National Small Industries Corporation (NSIC) to accelerate the digital transformation of Micro, Small and Medium Enterprises (MSMEs) in India. This partnership with NSIC envisages digital transformation of this critical sector as key to the Central government’s vision of ‘Aatmanirbhar Bharat’ for enabling MSMEs to scale up faster by ways of adopting digital ways of doing business.

 

OBITUARIES

 

1. Renowned astrophysicist Professor Shashikumar Madhusudan Chitre passes away: Renowned astrophysicist Professor Shashikumar Madhusudan Chitre passed away in Mumbai. He was 84. Prof Chitre’s scientific research is focused on solar physics, astrophysics and gravitational lensing.He has done extensive research on the Sun’s magnetic activity cycle, the solar dynamo theory, and the role of neutrals in the solar atmosphere. A recipient of Padma Bhushan, he retired as a senior professor from TIFR in Mumbai in 2001. He was the former president of Astronomical Society of India and was a member of multiple committees in recent decades which shaped India’s science policy.

Daily GK Updates – 17th Jan, 2021

NATIONAL UPDATES:

 

1. No foreign leader as chief guest on Republic Day this year: According to External Affairs Ministry Spokesperson Anurag Srivastava, due to the global COVID-19 situation, it has been decided that this year there will not be a foreign Head of State or Head of Government as the Chief Guest for the Republic Day event. President Ramnath Kovind will take the salute at the parade this time. This will be the first time in over five decades that India will not have a chief guest at the Republic Day parade. This comes days after United Kingdom (UK) Prime Minister Boris Johnson cancelled his visit to India. Boris Jonhson was scheduled to be the chief guest at India’s Republic Day parade on January 26.

History of Republic Day event: In 2020, Brazil President Jair Bolsonaro was the chief guest. The last time such a situation arose was in 1966 when no Chief Guest was present at the event which was held days after the demise of Prime Minister Lal Bahadur Shastri in Tashkent and the death of nuclear scientist Homi Bhabha in an air crash. Foreign leaders have graced the Republic Day parades every year barring 1952, 1953 and 1966. Indonesian President Sukarno was the first chief guest to grace Republic Day in 1950.

 

2. Dushyant Dave resigns as SC Bar Association (SCBA) President: Supreme Court Bar Association (SCBA) president, Dushyant Dave has resigned from his post with immediate effect, he has forfeited his right to continue. Acting SCBA Secretary Rohit Panday confirmed the development that the senior advocate has resigned with immediate effect. About the Supreme Court bar Association:

(1) The SCBA is an Indian bar association, comprising the practising lawyers of the Supreme Court of India.

(2) The SCBA has been in the vanguard of the movement for upholding, maintaining and consolidation of the constitutional values of democracy, rule of law and independence of Judiciary. In its meeting dated 4th May 1951.

(3) The Committee in its resolution observed that no attempt should be made to abridge or limit the Fundamental Rights.

(4) The Committee further pointed out that the Constitution was in operation only for a short period of sixteen months and the Supreme Court had no occasion to pronounce on the validity of various State laws.

Note: Supreme Court Bar Association Headquarters: New Delhi, India.

 

3. Najma Heptulla Releases book titled Making of a General-A Himalayan Echo: Manipur Governor Dr Najma Heptulla released a book titled “Making of a General-A Himalayan Echo” virtually. The book has been authored by (Retd) Lt General Konsam Himalay Singh, in which he has conveyed his dreams and views as well as also highlighted about Manipur, the “Land of Emeralds”. “Making of a General’ is the memoir of Lt Gen (Dr) 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. Konark Publishers Pvt Ltd is the publisher of the book.

 

4. IFFI 2021 to celebrate the work of legendary filmmaker Satyajit Ray: The 51st International Film Festival of India (IFFI) will be celebrating the work of legendary filmmaker Satyajit Ray by screening five of his classics. As part of the tribute, the festival will showcase Ray’s acclaimed “Pather Panchali”, the first film of his The Apu Trilogy, 1964 romantic drama “Charulata”, “Sonar Kella”, his 1977 Hindi directorial debut “Shatranj Ke Khilari” and “Ghare Baire” (1984). 12 films for Festival Kaleidoscope & 50 films for World Panorama section were unveiled too.

 

INTERNATIONAL UPDATES:

 

1. Donald Trump becomes the first U.S. President to be impeached twice: President Donald Trump was impeached by the U.S. House for a historic second time on January 13, charged with “incitement of insurrection” over the deadly mob siege of the Capitol in a swift and stunning collapse of his final days in office. He was first impeached in 2019 over his Ukraine dealings. The House voted 232-197 to impeach Mr Trump. The proceedings moved at lightning speed, with lawmakers voting just one week after violent pro-Mr. Trump loyalists stormed the U.S. Capitol, urged on by the President’s calls for them to “fight like hell” against the election results.

 

OTHER UPDATES:

 

BANKING AND FINANCE

                        

1. FSS and IPPB join hands to promote financial inclusion: Financial Software and Systems (FSS), a leading payment processor and provider of integrated payment products, has partnered with India Post Payments Bank (IPPB) to promote financial inclusion among underserved and unbanked segments.

As part of the collaboration: IPPB will use FSS’ Aadhaar Enabled Payment System (AePS) to deliver interoperable and affordable doorstep banking services to customers across India. Customers of any bank can access their Aadhaar-linked bank account by simply using their fingerprint for cash withdrawal, balance enquiry and transfer of funds into an operating IPPB account, right at their doorstep. This strategic partnership offers significant opportunities to bring millions of unbanked customers into the financial mainstream. Currently, there are nearly 410 million Jan Dhan accounts in India.

About FSS’ Aadhaar Enabled Payment System (AePS): FSS’ AePS solution combines the low-cost structure of a branchless business model, digital distribution, and micro-targeting that lowers acquisition costs and improves reach. The operation of FSS’ AePS solution is based on agents performing transactions on behalf of customers using a tablet, micro-ATM or a POS device. The system is device agnostic and can accept transactions originating from any terminal.

Note: MD and CEO of India Post Payments Bank (IPPB): J Venkatramu; India Post Payments Bank (IPPB) Headquarters: New Delhi.

 

BUSINESS AND ECONOMY

 

1. Fitch Ratings Projects GDP of India at -9.4% in FY21: The Fitch Ratings expect the gross domestic product (GDP) of India to contract by 9.4 per cent in FY21 (April 2020 to March 2021). Fitch further projects the GDP to expand by 11 per cent in FY22 (April 2021 to March 2022).

Note: Fitch Ratings Headquarters: New York, United States; Fitch Ratings CEO: Paul Taylor; Fitch Ratings Founder: John Knowles Fitch; Fitch Ratings Founded: 1914.

 

2. Intel appoints Pat Gelsinger as new CEO: Intel has appointed Pat Gelsinger as its new Chief Executive Officer, effective Feb. 15, 2021. Gelsinger will also join the Intel board of directors upon assuming the role. He will succeed Bob Swan, who will remain CEO until Feb. 15.

About Pat Gelsinger: Gelsinger is an industry veteran with more than four decades of technology and leadership experience, including 30 years at Intel where he began his career. Pat is a proven technology leader with a distinguished track record of innovation, talent development, and deep knowledge of Intel. He will continue a values-based cultural leadership approach with a hyper-focus on operational execution.

Note: Intel Founded: 18 July 1968; Intel Headquarters: Santa Clara, California, United States; Intel Founders: Gordon Moore and Robert Noyce.

 

3. Tesla sets up India subsidiary in Bengaluru: Elon Musk-owned electric vehicle (EV) company Tesla has registered a fully-owned subsidiary in Bengaluru, Karnataka. Tesla, the world’s most valued carmaker has incorporated a fully owned subsidiary ahead as a first step to set up an R&D unit and a manufacturing plant for its electric vehicles in the country. Tesla’s global senior director David Jon Feinstein, chief accounting officer Vaibhav Taneja and Bengaluru-based entrepreneur Venkatrangam Sreeram are on the board of the India unit, Tesla India Motors and Energy Pvt Ltd. The office, situated on Lavelle Road in Bengaluru, is registered with a total paid-up capital of Rs 1,00,000 and authorised share capital of Rs 15 lakh.

Note: Tesla Founded: 1 July 2003; Tesla Headquarters: California, United States.

 

DEFENCE

 

1. Indian Army inks $20 mn contract to buy SWITCH drones: The Indian Army has recently signed a contract with Mumbai-based drone manufacturing company, ideaForge, to procure high-altitude variant of SWITCH unmanned aerial vehicles (UAVs). The total cost of the deal is approximately USD 20 million. However, the quantity of UAVs to be procured is not disclosed. These UAVs will be delivered to the Indian Army over a period of one year.

About SWITCH UAV: SWITCH UAV is an indigenous system built to cater for the most demanding surveillance operations of the Indian Forces. This Fixed-Wing VTOL (Vertical Take-off and Landing) UAV can be deployed at high altitude and harsh environments for day and night surveillance in Intelligence, Surveillance and Reconnaissance (ISR) missions. It is man-portable and has the highest time on target compared to any other UAV in its class.

Note: IdeaForge CEO: Ankit Mehta; IdeaForge HQ:  Mumbai, Maharashtra.

 

2. DRDO develops India’s first Indigenously-Developed 9mm Machine Pistol: India’s first indigenous 9mm Machine Pistol has been jointly developed by DRDO and Indian Army. Infantry School, Mhow and DRDO’s Armament Research & Development Establishment (ARDE), Pune have designed and developed this weapon using their respective expertise in the complementary areas. The weapon has been developed in a record time of four months. The weapon is aptly named “Asmi” meaning “Pride”, “Self-Respect” & “Hard Work”. About the Machine Pistol:

(1) The Machine Pistol fires the in-service 9mm ammunition and sports an upper receiver made from aircraft-grade Aluminium and lower receiver from carbon fibre.

(2) The 3D Printing process has been used in designing and prototyping of various parts including trigger components made by metal 3D printing.

(3) The weapon has huge potential in Armed forces as a personal weapon for heavy weapon detachments, commanders, tank and aircraft crews, drivers/dispatch riders, radio/radar operators, Closed Quarter Battle, counter-insurgency and counter-terrorism operations etc.

(4) This is also likely to find huge employability with the central and state police organizations as well as VIP protection duties and Policing.

(5) The Machine Pistol is likely to have a production cost under rupees 50000 each and has potential for exports.

Note: Secretary Department of Defence Research and Development & Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.

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.