Daily GK Updates – 10th Feb, 2021

 

NATIONAL UPDATES:

 

1. National Horticulture Fair 2021 begins: The Union Minister of State for Agriculture and Farmer Welfare, Kailash Choudhry has inaugurated the National Horticulture Fair (NHF) 2021 on February 08, 2021, in Bengaluru via virtual mode. The five-day-long event has been organised by the Indian Institute of Horticultural Research (IIHR), from February 8 to February 12 at its IIHR campus situated in Hesaraghatta, Bengaluru. The theme of NHF 2021 is ‘Horticulture for Start-Up and Stand-Up India’.

For the first time, the event is being held in hybrid mode, i.e., the participants are allowed to attend the event online as well as offline. The NHF will showcase cutting edge technologies, crop varieties, pest and disease management practices and processing methods among others. The IIHR is a subsidiary of the Indian Council for Agricultural Research (ICAR).

Note: ICAR Director: Trilochan Mohapatra; Headquarters of ICAR: New Delhi; ICAR founded: 16 July 1929.

 

2. Punjab’s first central water treatment plant starts drinking water supply to 85 Moga villages: Set up with the assistance of the World Bank for Rs 232 crore, Punjab’s first ‘Central Water Treatment Plant’ has started supply of clean drinking water in 85 villages of Moga district. The plant was setup at village Daudhar of Moga. Under this project, 21.52 cusecs of water per second (50 MLD) is being treated from Abohar Canal Branch, which is being supplied further to the people of 85 villages through underground pipes. These 85 villages include one village of Moga-1, 47 villages of Baghapurana and 37 villages of Nihal Singh Wala. The project has been developed by the company Larsen & Toubro (L&T). The company is responsible for the operation and maintenance of the project for the next 10 years.

 

3. Gujarat govt to set up Indian Institute of Skills in Gandhinagar: In Gujarat, the State Government has asked the Tata group to start the work on setting up Indian Institute of Skills- IIS. This was conveyed during a meeting between the high powered team from Tata Group and senior officials of Gujarat Government held in Gandhinagar. IIS is being set up by the Labour and Employment Department of Gujarat along with Tata Group at Nasmed village of Gandhinagar. The State Government has allotted around 20 acres of land for Tatas to start Indian Institute of Skills. The institute is being developed on a Not-for-profit Public Private Partnership mode by the Tata Group along with the state’s Labour and Employment Department.

 

4. Cabinet gives in-principle approval for 100% divestment in RINL: The Cabinet Committee on Economic Affairs (CCEA) gave in-principle approval for 100 percent divestment of Centre’s stake in Rashtriya Ispat Nigam Limited (RINL), the Department of Investment and Public Asset Management (DIPAM) said. As per the decision finalised by the Cabinet, the Centre would completely divest its stake from the loss-making public sector unit (PSU). The government has budgeted Rs 1.75 lakh crore from disinvestment in 2021-22 fiscal beginning April 1.Strategic disinvestment of BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam Ltd, among others, is scheduled to be completed in 2021-22.

 

5. ‘Govt to give ₹ 1 Lakh Crore additional income to farmers’: Union Minister Pradhan: The government will provide ₹ 1 lakh crore additional income to farmers that will be generated by converting waste into energy, Union Petroleum and Natural Gas Minister Dharmendra Pradhan told Rajya Sabha. The government has started the Gobar Dhan scheme. Cow dung, agriculture waste, city waste, forest waste, the carbon in biomass, everything will be converted into energy. In a few days, the heap of waste at Ghazipur will be cleaned up. The energy that will make from that is going to give additional income of ₹1 lakh crore in the accounts of farmers. He said the government has come up with a scheme to procure ethanol worth ₹20,000 crore which will help increase farmer’s income.

 

6. Andhra SEC launches ‘e – watch’ app designed to receive gram panchayat elections related complaints: State Election Commissioner N. Ramesh Kumar launched ‘e-Watch’, a mobile application and a call centre to help curb malpractices during the gram panchayat elections. The App will be available on Google PlayStore from February 4 for lodging complaints of enticements and other objectionable actions. It was intended to ensure transparency in the gram panchayat election process, thereby instilling confidence in the public that the commission was wary of the scope for malpractices and it would take necessary action on those vitiating the elections.

 

INTERNATIONAL UPDATES:

 

1. India, EU hold high-level dialogue: The first India-European Union High-Level Dialogue was co-chaired by the Minister of Commerce and Industry, Piyush Goyal from India side and the European Union Executive Vice-President & Trade Commissioner Mr Valdis Dombrovskis, from the EU side. This Dialogue was organised in line with the commitment made at the 15th India-EU Leader’s Summit held in July 2020.

The outcome of HLD: Ministers agreed for further deepening of bilateral trade and investment relationship through a series of regular engagements, aiming at quick deliverable for the businesses in these tough times. They also agreed to meet within the next three months, to reach consensus on a host of bilateral trade & investment cooperation issues like bilateral Regulatory Dialogue; an India-EU Multilateral Dialogue to explore further possibilities of cooperation.

Note: European Union (EU) Headquarters location: Brussels, Belgium; European Union (EU) Founded: 1 November 1993; European Parliament President: David-Maria Sassoli.

 

2. Square Kilometre Array Observatory launched: The newly constituted Square Kilometre Array Observatory (SKAO) Council has approved for the establishment of the world’s largest radio telescope. The telescope will enable astronomers to monitor the sky in unprecedented detail and survey the entire sky much faster than any system currently in existence.  To look into some of the unexplored areas of the universe and seek answers about its history and evolution, study fundamental physics in extreme environments and know about galaxies over cosmic time.

What are radio telescopes: Radio telescopes, unlike optical telescopes, can detect invisible gas and can reveal areas of space that may be obscured by cosmic dust.

Where will be the world’s largest radio telescope located: The SKAO telescope will be an array of antennas located in two continents, i.e. Africa and Australia. The operation, maintenance and construction of the telescope will be overseen by SKAO. The development of the telescope is expected to take nearly a decade at a cost of over £1.8 billion.

What is SKAO: SKAO is a new intergovernmental organisation dedicated to radio astronomy. The headquartered of SKAO is based in the United Kingdom Currently organisations from ten countries are a part of the SKAO, which include Australia, Canada, China, India, Italy, New Zealand, South Africa, Sweden, the Netherlands and the UK. French-born Dr Catherine Cesarsky has been appointed as the first Chair of the SKAO Council. The Indian contingent of over 20 institutions will be lead by Pune-based National Centre for Radio Astrophysics (NCRA) of TIFR.

 

3. Pakistan test fires Ghaznavi Ballistic Missile: Pakistan successfully test-fired a nuclear-capable surface-to-surface ballistic missile named Ghaznavi which can strike targets up to 290 kilometres.  The launch of Ghaznavi missile was “culmination of Annual Field Training Exercise of Army Strategic Forces Command. The training launch was witnessed by Commander Army Strategic Forces Command Lt Gen Muhammad Ali, senior officers from Strategic Plans Division, Army Strategic Forces Command, Scientists and Engineers of the strategic organizations.

 

4. International Epilepsy Day 2021: 8th February: The International Epilepsy Day is observed on the second Monday of February every year across the world. In 2021, the International Epilepsy Day was observed on February 08. The day is organised jointly by the International Bureau for Epilepsy (IBE) and the International League Against Epilepsy (ILAE) to raise awareness about epilepsy and highlight the kinds of problems faced by victims, their friends and family. Epilepsy is a neurological disorder which makes a person go through sudden and recurrent episodes of sensory disturbances.

 

5. World Pulses Day: 10th February: The United Nations designated World Pulses Day is observed every year on 10 February. The day has been established by the Food and Agriculture Organization (FAO) of the United Nations to recognize the importance of pulses (dry beans, lentils, dry peas, chickpeas, lupins) as a global food. The theme, “Nutritious Seeds for a Sustainable Future,” was decided back in 2016 when the year was nominated to be celebrated as International Year of Pulses. Since then, the theme has remained the same from 2019 to 2021.

History of the day: In 2018, the UN General Assembly decided to mark 10 February as World Pulses Day. The first WPD was held on February 10, 2019.  On 20 December 2013, the UN General Assembly adopted a resolution (A/RES/68/231) proclaiming 2016 as the International Year of Pulses (IYP). The celebration of the year, led by the Food and Agriculture Organization of the United Nations (FAO), increased the public awareness of the nutritional and environmental benefits of pulses as part of sustainable food production.

Note: Food and Agriculture Organization Head: Qu Dongyu; Food and Agriculture Organization Headquarters: Rome, Italy; Food and Agriculture Organization Established: 16 October 1945.

 

OTHER UPDATES:

 

SPORTS

 

1. Rishabh Pant wins inaugural ICC Player of the Month January 2021: The Indian wicketkeeper-batsman Rishabh Pant has won the inaugural ICC Player of the Month award 2021. Pant has been honoured for his superlative performances in the two Tests against Australia in January 2021, wherein he scored a 97 at Sydney and an unbeaten 89 at Brisbane, leading India to an incredible series win. Apart from this, Shabnim Ismail of South Africa has been named the ICC Women’s Player of the Month following her performances across three ODIs and two T20Is in January 2021. A fast bowler, Ismail took seven wickets in ODI series against Pakistan to gain victory and five wickets in the second T20 International against the same opposition.

 

BUSINESS AND ECONOMY

 

1. India’s Near-term Fiscal Deficit Target Higher Than Expected: Fitch: India’s fiscal deficit target in the near-term is higher than expected and medium-term consolidation is at a more gradual pace than anticipated, said Fitch Ratings in its comments on the just unveiled Union Budget for the financial year beginning April 1. India, which has often complained its sovereign credit ratings by agencies such as Fitch not reflecting the economy’s fundamentals, put the fiscal deficit – the excess of government expenditure over its revenues – at 9.5 per cent of the gross domestic product (GDP) in the current fiscal ending March 31, against a planned 3.5 per cent.

 

AWARDS AND HONOURS

 

1. Indian Documentary ‘Writing With Fire’ Wins Audience Award At Sundance Film Festival: “Writing with Fire”, an Indian film chronicling the rise of Khabar Lahariya, India’s only newspaper run by Dalit women, has won the audience award in the World Cinema Documentary category at the Sundance Film Festival 2021. Writing with Fire premiered in the World Cinema Documentary Competition segment, which celebrates 10 non-fiction feature films from emerging talent around the world. The festival, which started from January 28 and will close on February 3, is presented by Sundance Organisation, a nonprofit that discovers and supports independent artists, and introduces audiences to their work.Fire in the Mountains, directed by debutant Ajitpal Singh, was another Indian title to be screened at the festival.

 

OBITUARIES

 

1. Bollywood actor Rajiv Kapoor passes away: Bollywood actor and Raj Kapoor’s son Rajiv Kapoor passed away. He made his acting debut with 1983 movie Ek Jaan Hain Hum. He gained recognition with his father’s last directorial Ram Teri Ganga Maili (1985). Some of his other memorable films include Aasmaan (1984), Lover Boy (1985), Zabardast (1985) and Hum To Chale Pardes (1988). But soon Rajiv also addressed as Chimpu, moved to film direction and production. In 1996, Rajiv directed Prem Granth which featured his elder brother Rishi Kapoor in the lead role along with Madhuri Dixit. He ventured into production with brother Randhir Kapoor’s directorial Henna in 1991 and also produced Aa Ab Laut Chalen (1999).

Daily GK Updates – 9th Feb, 2021

 

NATIONAL UPDATES:

 

1. 4 more states complete ‘Ease of Doing Business’ Reforms: As per the recent data by the Department for Promotion of Industry and Internal Trade (DPIIT), four more states have completed the reforms in the ‘Ease of Doing Business’, as stipulated by the Department of Expenditure, Ministry of Finance. The four states are- Assam, Haryana, Himachal Pradesh and Punjab. These states have become eligible to mobilise additional financial resources to the tune of Rs 5,034 crore through open market borrowings. Now the total number of state that has undertaken the reforms to promote Ease of Doing Business till now has gone up to 12. The other states are Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana.

Reforms of ‘Ease of Doing Business’: Altogether, these twelve states have been granted additional borrowing permission of Rs 28,183 crore. In May 2020, the central government had announced to link grant of additional borrowing permissions to states who undertake the reforms in four citizen-centric sectors to facilitate ease of doing business. The four citizen-centric areas for reforms identified were -implementation of one nation one ration card system, ease of doing business reform, urban local body/ utility reforms and power sector reforms.

 

2. PM Modi launches Asom Mala in Assam’s Sonitpur district: Prime Minister Narendra Modi has launched the ‘Asom Mala’ programme in Dhekiajuli of Sonitpur district, Assam. As per the PMO, this initiative will boost the state’s road infrastructure and contribute to Assam’s economic progress and improve connectivity. The programme is unique for its emphasis on effective maintenance through continuous field data collection and its linkage with the Road Asset Management System.

PM Modi also laid the foundation stones of medical colleges and hospitals in Biswanath and Charaideo with an aim to boost Assam’s health infrastructure. The two medical colleges and hospitals are being set up at Biswanath and Charaideo at a total estimated project cost of over Rs 1,100 crores. Each hospital will have a 500-bed capacity and 100 MBBS seat capacity.

Note: Assam CM: Sarbananda Sonowal; Assam Governor: Jagdish Mukhi.

 

3. Uttarakhand Chamoli glacier burst: The glacier burst took place at the Rishiganga power project after a portion of Nanda Devi glacier broke off in Tapovan area of Joshimath in Uttarakhand’s Chamoli district on 7th February morning and damaged the Rishiganga dam on Alaknanda river. National Thermal Power Corporation’s (NTPC) Tapovan Vishnugad project on Dhauliganga river and Rishi Ganga Power Corporation Ltd’s project, with a planned capacity of 520 MW and 13.2 MW, respectively, have been nearly washed away. Many villages were evacuated as floods swept away five bridges, damaged homes and the nearby NTPC power plant, and washed away a small hydropower project near Rishiganga. National and state disaster response teams have been deployed, as have teams from the ITBP. The Army has sent six columns and the Navy seven diving teams.

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

 

INTERNATIONAL UPDATES:

 

1. South Korea to Build World’s Largest Offshore Wind Farm: President Moon Jae-in-led, South Korea Government has approved a plan to build the world’s largest wind power plant in the country by 2030. Currently, the world’s largest offshore wind farm is Hornsea 1 in Britain, which has 1.12 GW capacity.

About the project: The project will help to foster an environmentally-friendly recovery from the COVID-19 pandemic and fasten the step to achieve the target of becoming carbon neutral by 2050. The estimated cost of the project is 48.5 trillion won ($43.2 billion). The Windpower Plant will be located in the southwestern coastal town of Sinan. It will have a maximum capacity of 8.2 gigawatts.

Note: South Korea Capital: Seoul; South Korea Currency: South Korean won.

 

2. Nigeria’s Okonjo-Iweala set to become first female Chief of WTO: Nigerian economist Ngozi Okonjo-Iweala has been chosen as the next Director-General of the World Trade Organization (WTO). She would be the first woman as well as the first African nation to lead the organization. Okonjo-Iweala, the former finance minister of Nigeria, will succeed Roberto Azevedo, who stepped down in August 2020.

Note: World Trade Organization Headquarters: Geneva, Switzerland; World Trade Organization Founded: 1 January 1995.

 

3. Michael Bloomberg Re-Appointed as United Nations Climate Envoy: The United Nations Secretary-General Antonio Guterres re-appointed Michael Bloomberg as his Special Envoy on Climate Ambition and Solutions. Bloomberg is the founder and owner of Bloomberg LP, the parent company of Bloomberg News. He was previously appointed as the U.N. special envoy for climate action between March 2018 and November 2019.

Bloomberg will work to strengthen the group of governments, companies, cities and financial institutions that are working to reach carbon neutrality by 2050, in line with the goals of the Paris Agreement. He would also work to mobilise stronger and more ambitious climate action in the lead-up to 2021 United Nations Climate Change conference in Scotland in November 2021.

 

OTHER UPDATES:

 

SPORTS

 

1. Joe Root becomes first batsman to score 200 in 100th Test: Joe Root, the England captain, sent India on a leather hunt, becoming the first player in history to score a double century in his 100th Test match. In the process, Root also surpassed former Pakistan captain Inzamam-Ul-Haq as the player with the highest individual score playing the 100th Test match of his career. Inzamam had hit 184 against India in a Test match in Bengaluru in 2005, which Pakistan had won by 168 runs.

 

BANKING AND FINANCE

 

1. RBI Monetary Policy: Policy Rate unchanged: The six-member Monetary Policy Committee of the Reserve Bank of India (RBI), headed by Governor Shaktikanta Das, has decided to maintain the status quo on policy rate amid sticky rate of inflation. At this point, the repo rate or the rate at which RBI lends to banks stands unchanged at 4 per cent. The reverse repo rate also stayed unchanged at 3.35 per cent. The MPC committee members voted unanimously in favour of the decision. The key decisions taken in the Monetary Policy Committee meeting are:

(1) The repo rate under the liquidity adjustment facility (LAF) has been kept unchanged at 4.00%.

(2) The reverse repo rate under the LAF has been kept unchanged at 3.35%.

(3) The marginal standing facility (MSF) rate and the Bank Rate have been kept unchanged at 4.25%.

RBI Monetary Policy Highlights & Key Decisions:

(1) Governor Shaktikanta Das proposes to put in place criteria for NBFC dividend distribution, introduces risk-based audit in large NBFCs & co-op banks.

(2) RTGS will soon be made 24X7 in the next few days.

(3) The business sentiment of manufacturing firms is gradually improving.

(4) CPI inflation is seen at 6.8% for Q3 and 5.8% for Q4.

(5) Real GDP growth for FY21 is projected at -7.5%. Q3 FY-21 GDP is seen at +0.1% while Q4 FY-21 GDP is seen at +0.7%.

(6) Corporate bond spreads have narrowed to pre-covid levels.

(7) RBI proposes to enhance limits for contactless card payments from ₹2000 to ₹5000 from Jan 2021.

(8) On-tap Targeted Long Term Repo Operations (TLTRO) will be expanded to cover other stressed sectors in tandem with Emergency Credit Line Guarantee Scheme (ECLGS) scheme.

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

 

BUSINESS AND ECONOMY

 

1. Google Cloud appoints Bikram Singh Bedi as MD for India: Google Cloud has appointed Bikram Singh Bedi as the new Managing Director for its India Business. He will succeed Karan Bajwa, who has been elevated as Vice president for the Asia Pacific (APAC) region cloud operations at Google Cloud. At Google, Bikram Bedi will be responsible for leading Google Cloud’s sales and operations teams in this dynamic market. Google Cloud is also on track to launch its Delhi cloud region in India this year – its second after Mumbai that was launched in 2017.

About the Bikram Singh Bedi: Bedi, a senior leader with more than 26 years of leadership experience, will be responsible for leading Google Cloud’s sales and operations teams in this dynamic market. He joined Google Cloud from Indian online grocery delivery startup, Grofers where he served as President Strategy and New Initiatives. Prior to that, he set up the AWS business in India and was the head of India and South Asia for six years. He also held various leadership positions at IBM and Oracle.

Note: CEO of Google: Sundar Pichai; Headquarters: California, United States.

 

DEFENCE

 

1. 16th India-US joint military exercise ‘Yudh Abhyas 20’ commenced: The India-US joint military exercise “Yudh Abhyas 20” commenced in Mahajan Field Firing Range of Bikaner district in Rajasthan. This is the 16th edition of an annual bilateral joint exercise of both the armies. It will continue till the 21st of this month. The previous version of the joint exercise was held at Seattle in the United States. This exercise is another step in the growing military cooperation between the two countries, which shows the growth in Indo-US relations. It is also a sign that both India and the US understand the threat of terrorism and are standing shoulder to shoulder in combating the same.

About the exercise: About 250 US and 250 Indian army soldiers are participating in the exercise. Both the armies will share their war-related techniques, skills and experience with each other during this exercise. The exercise is one of the largest military training and defence cooperation efforts between India and the United States.

 

OBITUARIES

 

1. Indian tennis great Akhtar Ali passes away: Tennis legend Akhtar Ali, a father figure in Indian tennis, passed away. He represented India in eight Davis Cup ties against Pakistan, Malaysia, Iran, Mexico, Japan and Monaco between 1958 and 1964. Born on July 5, 1939, Akhtar made his mark in 1955 when he became the National junior champion and reached the junior Wimbledon semifinals. He played alongside stalwarts like Ramanathan Krishnan, Naresh Kumar, Premjit Lall and Jaidip Mukerjea. Akhtar, who was groomed by former Australian Davis Cup coach Harry Hopman, also played in the Wimbledon and French Open grand slam events. He was the winner of the Asian mixed doubles championship. His last ATP tour outing was against Vijay Amritraj in a clay court match in Bombay on November 11, 1974.

Daily GK Updates – 8th Feb, 2021

 

NATIONAL UPDATES:

 

1. Arvind Kejriwal launches ‘Switch Delhi’ campaign to promote electric vehicles: Delhi Chief Minister, Arvind Kejriwal has launched the ‘Switch Delhi’ campaign to promote electric vehicles and appealed to people to buy such vehicles to combat pollution in the city. Kejriwal said his government will hire only electric vehicles for various purposes in the next six weeks.

About the ‘Switch Delhi’ campaign: In the ‘Switch Delhi’ campaign, awareness will be created about the benefits of electric vehicles and how it can contribute to making Delhi clean and pollution-free. Under its electric vehicle policy, the Delhi government has planned extensive subsidies on purchase of electric two-wheelers and four-wheelers, besides waiving road tax and registration charges. More than 6,000 electric vehicles have been purchased since the policy launch in August 2020. The government has also issued tenders for setting up 100 charging stations across the city. The government has fixed an ambitious target of 25 per cent electric vehicles among total vehicle registrations in Delhi by 2024.

 

2. Centre approves release of Rs 1,751 cr to Assam, Arunachal, Odisha, Telangana & UP: The High-Level Committee under the Chairmanship of Home Minister Amit Shah approved Additional Central Assistance of over one thousand seven hundred 51 crore rupees under the National Disaster Response Fund, NDRF to five states, which were affected by floods, landslides during South-West Monsoon-2020 and hailstorm during Rabi 2019-20. For floods and landslides during South-West Monsoon-2020, over 437 crore rupees were approved for Assam, over 75 crore rupees to Arunachal Pradesh, nearly 321 crore to Odisha, nearly 246 crore rupees to Telangana and over 386 crore rupees to Uttar Pradesh. For hailstorm during Rabi 2019-20, over 285 crore rupees to Uttar Pradesh has been approved

 

3. Assam CM launches schemes for college students, literary bodies: Assam Chief Minister Sarbananda Sonowal launched two schemes to provide monetary assistance to college students and literary bodies of the state. Under Pragyan Bharati scheme, 3,26,046 college students were given Rs 1,500 each for purchasing textbooks, while a total of Rs 161 crore was reimbursed for the free admission of 4 lakh eligible students. The second scheme is Bhasha Gourab, under which the state government provided 21 Sahitya Sabhas (literary bodies) with a total of Rs 43 crore as a contribution towards their corpus funds.Under the scheme, 600 writers have also got Rs 50,000 each to help in their literary activities.

 

4. HAL to develop world’s first high-altitude pseudo satellite: The Hindustan Aeronautics Limited (HAL) is developing a futuristic high altitude pseudo satellite with a start-up company, to strengthen the country’s military strike capabilities. It is a first of its kind project in the world, where a manned aircraft will operate within the boundary and the unmanned aircraft will enter the enemy zone and can carry out strikes deep inside the enemy territory.

About the Satellite: Capable of autonomous functions, these unmanned aerial vehicles will also have all the manoeuvring capabilities. “It can straightway hit the target at a distance of 700 kilometres or can go to 350 kilometres and come back. It carries ammunition, missiles if needed CATS Alpha. The technology has been named Combined Air Teaming System (CATS). It will have a manned aircraft (will be known as mother ship), operating from far away, and four autonomous unmanned aerial vehicles known as CATS Warrior. The satellite will be solar energised and become a big asset flying unmanned around 70,000 ft for 2-3 months and taking information.

 

INTERNATIONAL UPDATES:

 

1. World’s First ‘Energy Island’ to be built by Denmark: The Government of Denmark has approved a project to build the world’s first energy island, in the North Sea that will produce and store enough green energy to meet the electricity needs of three million households in European countries. The hub will strengthen the integration of Europe’s power grids and increase renewable electricity production necessary for a climate-neutral Europe.

About the hub: The energy hub will serve as an offshore power plant gathering and distributing green electricity from hundreds of wind turbines surrounding the island directly to consumers in countries surrounding the North Sea. It is the long-term ambition to be able to store green electricity on the island, convert it to liquid green fuel, and send it via subsea cables to Denmark and neighbouring countries. Facts about the energy islands:

(1) The artificial island will offer the best opportunities to expand the project, for example by building a harbour and facilities for storage and conversion of green electricity from the nearby wind turbines in the sea.

(2) The first-of-its-kind giant island will be as big as 18 football pitches (120,000sq m).

(3) A broad coalition of Danish parties have decided to establish two energy hubs and associated offshore windfarms. One as an artificial island in the North Sea and one at the Danish island Bornholm.

(4) An energy hub serves as a hub that collects electricity from the surrounding offshore windfarms and distributes the electricity between countries connected via the electricity grid.

(5) The two hubs initial capacity will be 5 GW triple the current installed offshore capacity in Denmark. Later they will be expanded to provide a capacity of 12 GW in total.

(6) The deal also established a final phase-out date of fossil extraction by 2050 and laid out plans for a just transition of impacted workers. Denmark is currently the largest oil producer in the EU, and it is the biggest producer worldwide to establish a final phase-out date so far.

Note: Denmark Capital: Copenhagen; Denmark Currency: Danish krone.

 

2. India & Bahrain join hands for Renewable Energy: The first India-Bahrain Joint Working Group meeting in the field of Renewable Energy was held in a virtual format on February 04, 2021, for promoting bilateral cooperation in the field of Renewable Energy. The Indian delegation was led by Dinesh Dayanand Jagdale, Joint Secretary, Ministry of New & Renewable Energy. Abdul Hussain bin Ali Mirza, President of Sustainable Energy Authority led the Bahraini delegation. Both sides also agreed to forge deeper engagement in capacity building and focused cooperation between concerned agencies as well as the private sector of the two countries in this sector, particularly in the field of solar, wind and clean hydrogen.

Note: King of Bahrain: Hamad bin Isa Al Khalifa; Bahrain Capital: Manama; Bahrain Currency: Bahraini dinar.

 

3. Hunter Biden to Release Memoir ‘Beautiful Things’: United States President Joe Biden’s son, Hunter Biden, is publishing his memoir titled “Beautiful Things”, which narrates about his struggles with addiction and drug abuse. The book is scheduled to be published in the United States on April 6 by Gallery Books, an imprint of Simon & Schuster. The 51-year-old Hunter Biden has narrated his personal story about how he was a drug addict- from his first sips of alcohol as a child, when he was dealing with the aftermath of a family tragedy, to his crack-cocaine use and how he fixed that problem.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI to Set up Committee on Urban Co-op banks: The Reserve Bank of India (RBI) will set up an expert committee on Urban Co-operative Banks (UCBs). The committee, involving all stakeholders, will provide a medium-term road map for strengthening the sector, enable faster resolution/rehabilitation of UCBs.

About the committee: Along with enabling faster resolution of UCBs, the committee will also examine critical aspects related to the urban co-op banks. The provisions of the Banking Regulation (Amendment) Act, 2020 have become applicable to Primary (Urban) Co-operative Banks (UCBs) from June 26, 2020. The amendments have brought near parity in supervisory and regulatory powers between UCBs and commercial banks in respect of regulatory powers, including those related to governance, audit, and resolution. The members of the committee and its terms of reference have not been notified yet. It will be informed separately by the RBI.

 

2. Federal Bank launches ‘FedFirst’ savings account scheme for children: Federal Bank has announced the launch of “FedFirst”, a special savings account scheme for children below 18 years of age. The account helps children develop healthy saving and spending habits, thereby giving them the freedom to save, spend and earn.

About the account: The account is designed to enable children to learn the importance of money management. The account comes with unique features and offers. The account holder is provided with a FedFirst contactless Debit Card with a daily cash withdrawal limit of ₹2,500 and POS/e-com limit of ₹10,000, in addition to free online facilities including access to internet banking, mobile alerts and e-mail alerts.

Note: Federal Bank MD & CEO: Shyam Srinivasan; Federal Bank HQ: Aluva, Kerala.

 

BUSINESS AND ECONOMY

 

1. RBI: India’s GDP growth projected at 10.5 per cent for FY22: In the last bi-monthly monetary policy meet for the current, the Reserve Bank of India projected India’s GDP growth rate at 10.5 per cent for the fiscal year 2021-22. The growth outlook has improved significantly, and the vaccination drive will further boost the economic rebound. The apex bank expects the Indian economy to grow in the range of 8.3 per cent to 26.2 per cent in the first half of FY22, followed by a 6 per cent growth in Q3FY22. The central bank’s projection is lower than that of the Economic Survey that projected India to grow at a rate of 11 per cent in the coming fiscal.

 

2. Paypal to shut domestic payments service in India from April 1: The California-based global digital payment platform PayPal has announced that the company has decided to wind down its domestic payment services in India with effect from April 01, 2021. The decision has been taken because the company wants to shift its focus on cross-border payments business. However, the global customer will be able to pay Indian merchants using Paypal. PayPal was a payments options on many Indian online apps such as travel and ticketing service MakeMyTrip, online film booking app BookMyShow, and food delivery app Swiggy.

Note: PayPal Founded: December 1998, Palo Alto, California, United States; PayPal CEO: Dan Schulman.

 

OBITUARIES

 

1. Oscar-winning Canadian actor Christopher Plummer passes away: Oscar-winning actor Christopher Plummer, who rose to prominence for his critically-acclaimed film ‘Sound of Music’, has passed away. He won the Academy Award for Best Supporting Actor at the age of 82 for Beginners (2010), becoming the oldest person to win an acting award. The prolific and versatile Canadian-born actor has received various awards for his work, which includes Academy Award, two Primetime Emmy Awards, two Tony Awards, a Golden Globe Award, a Screen Actors Guild Award, and a British Academy Film Award.

Daily GK Updates – 7th Feb, 2021

 

NATIONAL UPDATES:

 

1. Kerala to open its First Human Milk Bank: Kerala will open its first Human Milk Bank (HMB) on February 5, 2021. This is a state-of-the-art facility, and Kerala Health Minister KK Shailaja will open at Ernakulam General Hospital. A milk bank was established with the support of the Rotary Club of Cochin Global. After the State Health Department signed a Memorandum of Understanding (MoU) with the Rotary Club of Cochin Global in 2020, its cost was 3.5 million rupees. The Association of Pediatricians (IAP) will provide trained nursing staff to operate the milk bank. About the Human Milk Bank:

(1) The breast milk bank will ensure that newborn babies who are not ill or deceased or who are not breastfed due to insufficient breast milk production can obtain breast milk.

(2) Approximately 3,600 babies are born in general hospitals every year. Among them, 600 to 1,000 sick babies enter the neonatal intensive care unit (NICU). However, due to the low weight of premature babies or babies separated from their mothers, mothers cannot adequately feed them. Therefore, pasteurized breast milk from the milk bank will reduce the risk of infection and help strengthen its immunity.

(3) The concept of this milk bank appeared in India 32 years ago, but Kerala has no milk bank until now.

(4) Milk will be collected in accordance with all safety regulations and procedures, stored and provided to children in need in accordance with government guidelines. The collected milk will be safely stored in the bank for 6 months. Initially, the milk will be provided free of charge to babies admitted to the neonatal intensive care unit. At a later stage, plans will be made to establish a hospital network for multiple collections and safe distribution points.

(5) The milk will be donated by the delivery mother in the hospital. These mothers will get all health statistics in the hospital.

(6) The human milk bank includes a pasteurization unit, deep freezer, refrigerator, disinfection equipment, reverse osmosis equipment and computer.

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

 

2. Centre Appoints Praveen Sinha as interim Director of CBI: Department of Personnel and Training, under Personnel Ministry, has appointed Praveen Sinha, as the interim director of the Central Bureau of Investigation (CBI), with immediate effect on 03 February 2021. He has been appointed in place of the incumbent chief RK Shukla, whose tenure came to an end on February 03, 2021. Sinha, a 1988-batch Gujarat cadre Indian Police Service (IPS) officer, is currently an additional director at CBI, the premier investigating agency of India. Sinha shall look after the duties of Director CBI till the appointment of new director CBI, or until further orders, whichever is earlier.

Note: Central Bureau of Investigation Headquarters: New Delhi; Central Bureau of Investigation Founded: 1 April 1963; Central Bureau of Investigation Founded: 1 April 1963.

 

3. S.N. Subrahmanyan appointed as Chairman of the National Safety Council: The Ministry of Labour & Employment has appointed S.N. Subrahmanyan as the new Chairman of the National Safety Council (NSC) of India for a period of three years. Subrahmanyan is the CEO and Managing Director of L&T Ltd., India’s largest construction company.

About the National Safety Council: National Safety Council plays a major role to ensure safety in workplaces under new Occupational Safety, Health and Working Conditions code, 2020 (OSH Code, 2020).

 

4. Andaman and Nicobar Islands becomes first Union Territory to be corona free: Andaman and Nicobar Islands has become the first state or Union territory in the country to become Covid-19 free with active cases falling to zero in the islands. Health ministry’s website reported that the last four infected persons in Andaman and Nicobar Islands have been declared cured. The UT had reported a total of 4,932 cases and 62 deaths from the virus. The share of Kerala in India’s daily cases crossed 50 per cent for the first time. There were 11,024 fresh cases in the country out of which Kerala alone reported 5,716, 51.8 per cent of the total. The state also has the highest count of active cases at 69,157, out of around 1 lakh 61 thousand in the country.

Note: Andaman and Nicobar Capital: Port Blair; Andaman and Nicobar Lieutenant Governor: Admiral D K Joshi.

 

5. Ayesha Aziz becomes India’s Youngest Female Pilot at 25: A 25-year-old Kashmiri woman, Ayesha Aziz, has become the youngest female pilot in the country. She became the youngest student pilot to get a license at the age of 15 in 2011. The 25 -year-old from Kashmir who is the youngest female pilot in the country acts is a source of inspiration and a beacon of empowerment for numerous Kashmiri women.

About the Ayesha Aziz: In the year 2011, Aziz became the youngest student pilot to get a license at the age of 15 and underwent training to fly a MIG-29 jet at Russia’s Sokol airbase the following year. She later graduated in aviation from the Bombay Flying Club (BFC) and obtained a commercial license in 2017.

 

INTERNATIONAL UPDATES:

 

1. India ranks 53rd in EIU’s Democracy Index: India’s position has slipped by two places to be placed at 53rd spot in the 2020 Democracy Index, from among 167 countries. The overall score of India is 6.61 in the Index, on a scale of 0-10. India has been classified as a ‘flawed democracy’. Democracy Index is the global ranking released by The Economist Intelligence Unit (EIU) that provides a snapshot of the current state of democracy worldwide.

About the Index: Norway has topped the Index. Iceland, Sweden, New Zealand and Canada are the top five countries on the list. From the 167 countries, the Democracy Index has classified 23 countries as full democracies, 52 as flawed democracies, 35 as hybrid regimes and 57 as authoritarian regimes.

Note: The Economist Intelligence Unit Headquarters: London, United Kingdom; The Economist Intelligence Unit Parent organization: Economist Group; The Economist Intelligence Unit Founded: 1946.

 

2. Reliance sources world’s first ‘carbon-neutral’ oil from United States: Billionaire Mukesh Ambani-owned Reliance Industries Ltd has received the world’s first consignment of ‘carbon-neutral oil’ from Oxy Low Carbon Ventures (OLCV), a division of United State oil major Occidental. This feat will further help the oil major to accomplish its target of becoming a net zero-carbon company by 2035.

The Very Large Crude Carrier (VLCC) Sea Pearl containing the carbon-neutral oil from Permian basin, unloaded the cargo at Jamnagar on January 28, 2021. It must be noted that Reliance operates the world’s largest single-location oil refining complex at Jamnagar in Gujarat with a capacity of 68.2 million tonnes a year.

 This transaction is the first major petroleum shipment of Reliance, for which greenhouse gas (GHG) emissions from the entire crude lifecycle, including oil extraction, transport, storage, shipping, refining, subsequent use, and combustion, have been offset.

 

OTHER UPDATES:

 

BUSINESS AND ECONOMY

 

1. PHDCCI Report: India to emerge as second most resilient economy in 2021: India will emerge as the second most resilient economy in 2021, as per the International Economic Resilience (IER) Rank, released by industry body, PHD Chamber of Commerce and Industry (PHDCCI). The ranking has been topped by Germany, among the top-10 leading economies. South Korea is at the third position in the list. Apart from this, India’s real GDP growth rate is projected to be the highest in the year 2021 among the top-10 leading economies in the world, at 11.5%. It reflects India’s strong “economic resurgence” to the global economic turmoil caused by the COVID-19 pandemic.

 

2. BSE sets up innovation sandbox web portal: Leading stock exchange BSE said it has set up an “innovation sandbox” web portal where fintech firms and individuals may use the environment for offline testing of their applications in a test environment. This will help in creating an ecosystem which promotes innovation in the securities market. The portal is a workflow-based platform, where applicants will be able to access application programming interfaces (APIs), test data of stock exchanges, depositories and qualified registrar and share transfer agents, among others.

 

DEFENCE

 

1. HAL inks deal with MIDHANI to develop, manufacture composite raw materials: The state-owned aerospace and defence company, Hindustan Aeronautics Limited (HAL) has signed a Memorandum of Understanding (MoU) with Hyderabad-based Mishra Dhatu Nigam Limited (MIDHANI) for development and production of composite raw materials for use in aerospace. This is the first time that such an MoU has been signed for composite raw materials. The MoU was signed during the Aero India 2021 on February 04, 2021, in Bengaluru.

About the Composites raw materials: Composites raw materials are currently imported since there is no equivalent proven Indian approved/qualified supplier for these raw materials for the aircraft applications. These composite raw material, mainly in the form of prepregs, are used in platforms like Light Combat Aircraft (LCA), Advanced Light Helicopter (ALH), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH).

 

2. India hosts Indian Ocean Region Defence Ministers’ Conclave: India hosted Indian Ocean Region (IOR) Defence Ministers’ Conclave on the sidelines of Aero India 2021. The conclave is an initiative to promote dialogue in an institutional, economic and cooperative environment that can foster the development of peace, stability and prosperity in the Indian Ocean region. The broad theme of the conclave is ‘Enhanced Peace, Security and Cooperation in the Indian Ocean’.  The conclave is also taking place at a time Indian and Chinese troops are locked in a bitter standoff in eastern Ladakh for the last eight months.