Daily GK Update - 11th March, 2021

 NATIONAL UPDATES:

 1. PM Narendra Modi inaugurates ‘Maitri Setu’ between India and Bangladesh: Prime Minister Shri Narendra Modi has inaugurated the ‘Maitri Setu’ bridge between India and Bangladesh through a video conference, to strengthen the connectivity between both countries and especially with the north-eastern region of India. Maitri bridge will also make Tripura the ‘Gateway of North East’ with access to Chittagong Port of Bangladesh, which is just 80 km from the Sabroom.

About the Maitri Setu bridge: The Maitri Setu bridge has been built on the Feni river, which lies between the Indian boundary in Tripura and Bangladesh. The 1.9 Kilometres long bridge will connect Sabroom in India with Ramgarh in Bangladesh. The bridge has been constructed by the National Highways and Infrastructure Development Corporation Limited at a project cost of around Rs. 133 Crore.

 2. Tirath Singh Rawat becomes new Chief Minister of U’khand: The Bharatiya Janata Party’s member of Parliament from Pauri Garhwal, Tirath Singh Rawat, will be the next chief minister of Uttarakhand. This was announced by outgoing chief minister Trivendra Singh Rawat, who resigned. Tirath Singh Rawat will be sworn in as the new chief minister of Uttrakhand. Tirath Singh Rawat was the chief of the party in Uttarakhand in 2013-15 and also an MLA from the state in the past. His name was picked over prominent candidates including Union Minister Ramesh Pokhriyal Nishank and Uttarakhand Minister Dhan Singh Rawat.

Note: Governor of Uttarakhand: Baby Rani Maurya.

 3. Jammu and Kashmir launches Super-75 Scholarship Scheme: The Jammu and Kashmir Lieutenant Governor Manoj Sinha has launched “Super-75” scholarship schemes for meritorious girls, on the occasion of International Women’s Day 2021. The basic aim of this scholarship scheme is to facilitate the education and entrepreneurship of women.

About the Super-75 scholarship scheme: The super-75 scholarship scheme will support the education of meritorious girls from poor families, so that they can excel in streams like medicine, engineering, ITI (Industrial training institutes) and humanity and contribute to nation-building. Apart from this, Lt Governor Sinha also announced a new scheme named ‘Tejaswini’. This scheme has been launched under ‘Mission Youth-J&K’. Under Tejaswini, financial assistance of Rs 5 lakhs will be provided to the girls between the age group of 18 to 35 years to start their business.

 4. Delhi govt presents Rs 69000 Cr ‘Deshbhakti’ Budget: The Delhi government presented a Rs 69,000-crore budget themed on ‘patriotism’ or ‘Deshbhakti’ for the financial year 2021-22. The budget was presented by the Deputy Chief Minister of Delhi, Manish Sisodia. While presenting the budget, he announced that the government has decided to celebrate the 75th Independence Day of India. The Delhi government will hold programmes from March 12, 2021, which will last for 75 weeks.

Under the “Deshbhakti Budget”: The government has proposed to allocate Rupees 45 crores in order to install high masts so as to hoist the national flag at 500 places in Delhi. An outlay of Rs 50 crores made under ‘Aam Aadmi Nishulk COVID Vaccine Yojana. It announced free Covid-19 vaccination to all in its hospitals in the coming phases of the ongoing inoculation drive.

The budget highlights that the government seeks to increase the per capita income of Delhi in order to reach the level of Singapore by the year 2047. The government will also allocate rupees 10 crores for the programmes on Bhagat Singh’s life during the Deshbhakti celebrations. This year’s budget accounts for the budget outlay of more than 6.1 per cent than the budget presented for financial 2020-21.

Note: Chief Minister of Delhi: Arvind Kejriwal; Governor of Delhi: Anil Baijal.

 5. Frontier Gandhi’s autobiography released in English: The autobiography of Khan Abdul Ghaffar Khan, popularly known as the “Frontier Gandhi”, titled “The Frontier Gandhi: My Life and Struggle” is set to be published in English by the publishing house Roli Books. This will be his first autobiography in English. The book was translated into English by Imitiaz Ahmad Sahibzada, the former Pakistani civil servant and author. The earlier account of Khan Abdul Ghaffar Khan’s life in English was a collection of his interviews and was not his autobiography. The foreword of the book is written by historian Rajmohan Gandhi, Grandson of Gandhi and the book was originally written in Pashto and published in 1983. The book by Ghaffar Khan brings out the life events and personalities of the independence movement. The book accounts the sacrifices and efforts that resulted in the Independence of India.

 6. A book on Smriti Irani’s victory in Amethi released soon: The English translation of journalist-author Anant Vijay’s book “Amethi Sangram: Aitihasik Jeet Ankahi Dastan” will be released on March 15. The book, titled “Dynasty to Democracy: The Untold Story of Smriti Irani’s Triumph”, traces Union Minister Irani’s journey from her defeat in 2014 to her victory in the Congress stronghold of Amethi, Uttar Pradesh during the 2019 Lok Sabha election. The Hindi book was published in December 2020. The book can also be seen as a study of the RSS’s working style, its strategies and exemplary execution that backed Smriti Irani’s efforts from 2014 to 2019. The 44-year-old BJP leader had defeated the then Congress chief and MP Rahul Gandhi in his family bastion by a margin of 55,120 votes. It was the second time that Irani had contested against Rahul in Amethi. In 2014, Rahul got 4,08,651 votes against Irani’s 30,0748 votes.

 INTERNATIONAL UPDATES:

 1. Switzerland votes to ban full face coverings in public places: Switzerland has voted in favour of a proposal banning full facial coverings including the burqa and niqab in almost all public places. In the public referendum, around 51.21 per cent of voters voted in support of the controversial proposal. The vote means that full facial covering will be banned in all publicly accessible places in Switzerland including on the streets, public transport, in public offices such as restaurants, shops and in the countryside.

Full-face covering will be allowed: The full-face covering will be allowed in places of worship and other sacred sites. It will also be allowed for health and safety reasons and in situations where it is a local custom such as carnivals.

Some other points: According to the proposal by the Swiss Federal Government, there will be no additional exceptions such as for tourists. France was the first European nation to ban burqas and niqabs in public places in 2011. The European Court of Human Rights had upheld the ban in 2014.

Note: Switzerland Currency: Swiss franc; Switzerland Capital: Bern.

 2. Economic Freedom Index 2021 announced: The Heritage Foundation, a US Conservative think-tank, recently launched the “Economic Freedom Index”. The index was prepared by covering 184 countries this time for the period of July 2019 to June 2020. This is the first time the index has been published since the COVID-19 pandemic overturned lives as well as global economies and the scoring reflects a small extent how governments have responded to the health crisis.

Ranking: In the index, Singapore has topped the global ranking for the second consecutive year. In the 2021 Index, India came in around the middle of the pack among Asia-Pacific countries ranking 26th out of 40 countries, scoring 56.5 points. Globally, the Foundation rates India’s economy as the 121st freest. Although its overall score is unchanged, improvements were made in business freedom. This was offset by declines in judicial effectiveness and other scores.

Index: Rank 1: Singapore; Rank 2: New Zealand; Rank 3: Australia; Rank 4: Switzerland and Rank 5: Ireland

Important Fact of the Index: The biggest news generated from the “2021 Index of Economic Freedom” was however not the rankings or how COVID-19 impacted the scores but that The Heritage Foundation decided to exclude Hong Kong from its rankings for the first time ever. The Heritage Foundation said that the reason for leaving Hong Kong out is that the Special Administrative Region and its economic policies have now come under the direct control of Beijing.

Note: Heritage Foundation Headquarters: Washington, D.C., US; Heritage Foundation Founded: 16 February 1973; Heritage Foundation Chairperson: Thomas A. Saunders III.

 OTHER UPDATES:

 SPORTS

 1. India-New Zealand World Test Championship final in Southampton: India will play their inaugural World Test Championship final against New Zealand at Southampton’s Ageas Bowl Stadium, England from June 18-22. Initially, the final was supposed to be held at the Lord’s but Southampton, with a five-star facility inside the stadium, will make it easier for both the ICC and the England and Wales Cricket Board to create a bio-bubble for the two teams.

 2. PV Sindhu wins silver in BWF Swiss Open Super 300: India’s ace shuttler PV Sindhu has won a silver medal in the BWF Swiss Open Super 300 in the final of the women’s singles event held at Basel, Switzerland. The World No. 7 Sindhu lost to World No. 3 and reigning Olympic champion Carolina Marin. Winners List of Swiss Open 2021:

Men’s Singles : Viktor Axelsen (Denmark) beat Kunlavut Vitidsarn (Thailand).

Women’s Singles: Carolina Marin (Spain) beat PV Sindhu (India).

Men’s Doubles: Kim Astrup and Anders Skaarup Rasmussen (Denmark) beat Mark Lamsfuss-Marvin Seidel (Germany).

Mixed Doubles: Thom Gicquel-Delphine Delrue (France) beat Denmark pair, Mathias Christiansen-Alexandra Boje. 

BANKING AND FINANCE

 1. HDFC Bank launches SmartUp Unnati programme: HDFC Bank on the occasion of International Women’ Day has announced the launch of a dedicated programme named “SmartUp Unnati” for mentoring women entrepreneurs by women leaders at the bank. Under the SmartUp Unnati programme, over the next one year, senior women leaders from HDFC Bank will mentor women entrepreneurs in helping them achieve their goals. This programme is available only to exist customers and will initially target more than 3,000 women entrepreneurs associated with the bank’s SmartUp programme.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: Sashidhar Jagdishan(Succeeds Aditya Puri); The tagline of HDFC Bank: We understand your world.

 BUSINESS AND ECONOMY

 1. OECD interim economic outlook pegs India’s GDP growth at 12.6% in FY22: Organization for Economic Co-operation and Development (OECD) interim economic outlook has pegged India’s gross domestic product (GDP) growth to rebound to 12.6% in FY22, which will be the fastest in the world, followed by China at 7.8% growth. India’s GDP is expected to grow at 5.4% in the following financial year, owing to the faster rebound of several large emerging-market economies.

Note: OECD Headquarters: Paris, France; OECD Founded: 30 September 1961; OECD Secretary-General: Jose Angel Gurria.

 AWARDS AND HONOURS

 1. Ashwin, Beaumont Win ICC Player of Month Awards for February: India spinner Ravichandran Ashwin was awarded the ICC Player of the Month award for February, the International Cricket Council (ICC). Ashwin beat England captain Joe Root and West Indies’ Kyle Mayers to the award. Ashwin played a crucial role with bat and ball as India raced to a 2-1 lead over England in their four-match Test series in February before eventually winning the series 3-1 in March. He was the highest wicket-taker in the series with 32 scalps and scored a century in the second Test in Chennai.

Meanwhile, England opener Tammy Beaumont won the ICC Women’s Player of the Month for February. Beaumont was the overwhelming winner after she played three ODIs in February against New Zealand where she passed fifty in each of these, totalling 231 runs. She beat her teammate Natalie Sciver and New Zealand’s Brooke Halliday to the award.

Note: Chairman of ICC: Greg Barclay; CEO of ICC: Manu Sawhney; Headquarters of ICC: Dubai, United Arab Emirates.

 2. Koneru Humpy is BBC’s Indian sportswoman of the year: World rapid chess champion Koneru Humpy has won the BBC Indian Sportswoman-of-the-Year award. BBC director-general Tim Davie, hosting the virtual awards ceremony. The Lifetime Achievement award went to veteran athlete Anju Bobby George. English cricket star Ben Stokes announced the 19-year-old Indian Shooter, Manu Bhaker as the winner of the Emerging Player-of-the-Year award category. Bhaker, won two golds at the ISSF World Cup in 2018, followed by gold at the Youth Olympics and a Commonwealth Games gold with a record to boot.

Note: BBC director-general: Tim Davie; BBC Headquarters: London, United Kingdom; BBC Established: 1922.

 OBITUARIES

 1. Former Rajasthan Governor Anshuman Singh Passes Away: Justice Shri Anshuman Singh, the former Governor of Rajasthan & Gujarat, has passed away. Anshuman Singh was a retired Justice who served as the Governor of Rajasthan from January 1999 till 2003. Prior to that, he was appointed as the Governor of Gujarat state in 1998.

Daily GK Update - 10th March, 2021

 NATIONAL UPDATES:

 1. President of India Inaugurates conservation works at Singorgarh Fort in MP: The President of India, Ram Nath Kovind has laid the foundation stone for the conservation works of Singorgarh Fort in Singrampur village of Damoh district, Madhya Pradesh. He also inaugurated the newly carved Jabalpur Circle of Archaeological Survey of India. Apart from this, President Kovind addressed the State Level Tribal Conference ‘Janjatiya Sammelan’ at Singrampur village in Damoh. The program was organized jointly by the Ministry of Culture, Government of India and the Tribal Affairs Department of Madhya Pradesh.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Anandiben Patel.

 2. Uttarakhand CM Trivendra Singh Rawat resigns: Trivendra Singh Rawat has resigned as the chief minister of Uttarakhand, a year before the hill state is scheduled to go to polls. Rawat, who became the CM after the BJP swept the assembly elections here in early 2017, tendered his resignation after meeting Governor Baby Rani Maurya. According to reports, the party is mulling bringing in a deputy chief minister, the frontrunners for the post include State Education MinisterDhan Singh Rawat, MP Ajay Bhatt and Satpal Maharaj. The central BJP leadership had recently sent two observers, party vice president Raman Singh and general secretary Dushayant Kumar Gautam, to Uttarakhand to get feedback from the party’s core group in the state amid reports of discontent against the chief minister.

 3. Dr Harsh Vardhan addresses the inaugural session of Techbharat 2021: Union Minister for Health & Family Welfare, Dr Harsh Vardhan has addressed the inaugural session of TechBharat 2021. Laghu Udyog Bharati and IMS Foundation have organized the 2nd edition of the conclave bringing together stakeholders from the HealthTech & Edutech sector on a virtual platform.

About the TechBharat 2021: Techbharat is facilitating interactions & deliberations between thousands of domestic & global participants, including policymakers, government representatives, industry members, investors & start-ups to nurture resourceful partnerships and boost growth in the sectors. The Pradhan Mantri Aatmanirbhar Swasth Bharat Yojana, with a massive outlay of over 64 thousand crore rupees over the next six years, will develop capacities of primary, secondary and tertiary care, health care systems.

 4. India’s first forest healing centre inaugurated in Uttrakand’s Ranikhet: The First Forest Healing centre of the country was inaugurated at Ranikhet in Kalika Uttarakhand. The forest healing centre has been developed by the Research Wing of Uttarakhand Forest Department after research on the healing properties of the forests and its revitalizing impact on overall health and wellbeing. It is spread over an area of around 13 acres.

About the healing centre: This healing centre has been established in a pine-dominated forest as it has been found in various studies that coniferous like Pine trees emit certain oil compounds to safeguard themselves from various microbes and pathogens, which are called phytoncides. It has been found in various researches that these compounds help to multiply natural killer (NK) cells in our blood, which help in fighting infections and cancerous growth and enhance overall immunity. It has been found that because of typical molecular vibration patterns of trees, tree-hugging has a beneficial impact on the increase in the level of feel-good hormones like oxytocin, serotonin and dopamine, creating the pleasant effect and in countries like Iceland forest department has been making efforts to facilitate this activity for benefit of health purpose of local citizens.

Note: Governor of Uttarakhand: Baby Rani Maurya.

 5. NABARD’s Chintala takes charge as chairman of APRACA: NABARD chairman, G R Chintala has assumed charge as the chairman of APRACA (Asia Pacific Rural and Agricultural Credit Association). He has taken over from DPK Gunasekera, who is also the Chief Executive Officer of Bank of Ceylon. Chintala, in his address as APRACA Chairman, appreciated the role of the members of APRACA in promoting the development of rural finance in Asia Pacific.

About the APRACA: APRACA, established in 1977, is an association of institutions involved in agricultural, rural and microfinance policy and development, representing 21 countries in the Asia-Pacific region.

 6. Central Industrial Security Forces Celebrates its 52nd Raising Day: 10th March: The Central Industrial Security Forces (CISF) – Raising Day (CRD) is observed on March 10 in India every year. In 2021, the nation is celebrating the 52nd Raising Day of CISF. The basic objective of the CISF is Better “protection and security” of industrial undertakings in both government and private sectors in the country.

About the CISF: CISF was set up under an Act of the Parliament of India on 10 March 1969, for the better protection and security of industrial undertakings in the country. Eventually, it was made an armed force of the Republic of India by another Act of Parliament passed on 15 June 1983. CISF is one of six paramilitary forces in India and functions under the Ministry of Home Affairs with its headquarters in New Delhi. The CISF has 12 reserve battalions and 8 training institutes.

Note: Director-General of Central Industrial Security Force: Subodh Kumar Jaiswal.

 INTERNATIONAL UPDATES:

 1. Google Launched “Women Will” Web Platform: Google has launched a new web platform ‘Women Will’ on March 8, 2021, on the occasion of “International Women’s Day”. This platform will provide its support to 1 million rural women in India in order for them to become entrepreneurs with the help of accelerator programmes, business tutorials and mentorship.

About the Portal: This web portal can be accessed in English and Hindi languages. It will offer guidance to the aspiring women in villages to turn their interest or a hobby like beauty services, tailoring, home tuition, food processing, etc. into the business. It will also be providing guidance to manage and promote the business. The Women Will platform is designed for women aspiring to explore entrepreneurship. To begin with, Google will work with 2,000 ‘Internet Saathis’ to help other women with this resource to start their entrepreneurial journey.

Google also announced a $500,000 Google.org grant to Nasscom Foundation to train 100,000 women Agri workers in Bihar, Himachal Pradesh, Haryana, Rajasthan, Uttarakhand and Uttar Pradesh on digital and financial literacy. The Foundation will set up a helpline where the women can get counselling on their entrepreneurship-related queries.

Note: Google CEO: Sundar Pichai; Google Founded: 4 September 1998, California, United States; Google Founders: Larry Page, Sergey Brin.

 2. Bangladesh to commemorate 50th anniversary of 1971 Liberation war: In the 50th year of Indian victory over Pakistan in the 1971 Liberation war, Indian Naval Ships arrived in the port town of Mongla for a three-day visit to Bangladesh. The Indian Naval Ships is on a three-day visit between March 8 to 10. This is the first time ever that any Indian Naval Ship is visiting the port of Mongla in Bangladesh. The basic aim of this visit is to pay homage to the Bangladeshi and Indian combatants and citizens who laid down their lives during the Liberation War of 1971 against Pakistan. The ships will take part in the ongoing Swarnim Vijay Varsh celebrations to commemorate 50 years of the Liberation War of 1971 and reiterating the historic Indo-Bangladeshi friendship.

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

3. UNEP Food Waste Index Report 2021: The United Nations Environment Programme (UNEP) and WRAP released the Food Waste Index Report 2021 and highlights that food wastes by different countries in 2019. As per the report, Over 931 million tonnes of food were wasted globally in 2019. Highlights:

(1) In India, the household food waste estimate is 50 kg per capita per year, or 68,760,163 tonnes a year.

(2) The household food waste estimate in the US is 59 kg per capita per year, or 19,359,951 tonnes a year.

(3) China these estimates are 64 kg per capita per year or 91,646,213 tonnes a year.

Note: UNEP Headquarters: Nairobi, Kenya; UNEP Head: Inger Andersen; UNEP Founder: Maurice Strong; UNEP Founded: 5 June 1972, Nairobi, Kenya.

 OTHER UPDATES:

 SPORTS

1. Bajrang Punia bags gold in Matteo Pellicon World ranking series: In wrestling, the World Championship bronze medallist Bajrang Punia won a gold medal at the Matteo Pallicone ranking series held in Rome, Italy. He defeated Mongolia’s Tulga Tumur Ochir 2-2 by criteria in the 65kg freestyle event final. It is the second successive gold medal for 27 years Haryana wrestler, who had won the previous gold at this competition in 2020 by beating Jordan Oliver of the USA in the final. Apart from this, the ace India woman wrestler Vinesh Phogat won the gold medal in the 53kg title. The 26-year-old Vinesh beat Canada’s Diana Weicker 4-0.

 2. India qualify for ICC World Test Championship Final: Indian Cricket Team have qualified for the inaugural ICC World Test Championship final after beating England in an innings and 25 runs in the fourth and final Test in Ahmedabad on 6th March. New Zealand had already qualified for the WTC final with 420 points from 11 Tests with 7 wins and 4 losses. The World Test Championship final will be played at the Lord’s Cricket Ground in London from June 18.

 3. Indian Boxers finishes with 10 Medals including one G old at Boxam International Tournament 2021: The 35th edition of the Boxam International Tournament was held from March 01 to 07, 2021, at Castellon, in Spain. A 14-member (8 men and 6 women) Indian contingent had participated in the event and concluded the game with 10 medals including 1 Gold, 8 Silver and 1 Bronze.

 BANKING AND FINANCE

 1. Alliance Insurance launches insurance portal ‘SMEInsure’: Alliance Insurance has launched the insurance portal ‘SMEInsure’ in order to provide financial security to Micro, Small and Medium Enterprises (MSMEs), small shop and business owners Alliance. It is a portal to insure 5 crores Small and Medium Enterprises (SMEs) under the insurance category. Notably, the portal will provide insurance services in a phygital formate. physical, through individual personal assistance and digital insurance through the portal. The target of Alliance Insurance is to reach more than 5 crore SMEs in the first year and expect revenue of Rs 10 crore. Approximately 97% of the SMEs in India are not insured. Important Points:

(1) Its objective is to help SMEs in managing multiple risks through a single platform ranging from buying insurance, renewing cover to filing claims.

(2) This portal will provide options to choose and compare products from various well-known insurance services including HDFC Ergo, Bajaj Allianz, Iffco Tokio, Tata Aig, Liberty General Insurance, Raheja QBE, Reliance General Insurance, and SBI General.

(3) SMEs can get their businesses insured for professional indemnity, director and officers, marine, fire and burglary etc

(4) In the first phase, the company will focus on the hospitality industry, shop owners, salon, offices and educational institutes.

Note: Alliance Insurance CEO & Principal Officer: S. V. Thakkar; Alliance Insurance Headquarter: Mumbai, Maharashtra.

 BUSINESS AND ECONOMY

 1. Crisil: Indian economy to grow at 11% in FY’22: India’s GDP growth is expected to rebound to 11% in FY’22 as people learn to live with the new normal, flattening of the Covid-19 affliction curve, the rollout of vaccinations, and investment-focused government spending converge, according to rating firm Crisil. But recovery won’t be easy, with scars of the pandemic deep for small businesses and the urban poor.

Note: CEO of Crisil: Ashu Suyash; Crisil Chief Economist: Dharmakirti Joshi; Headquarters of Crisil: Mumbai.

 DEFENCE

 1. Indian Navy’s ‘silent killer’ INS Karanj commissioned: The Indian Navy got its third Scorpene submarine, commissioned as INS Karanj, of Project P-75 in Mumbai. With the delivery of Karanj, India further cemented its position as a submarine-building nation. Mazagon Dock Ltd (MDL), one of India’s leading shipyards with the capacity and the capability to meet the requirements and aspirations of the Indian Navy.  Before Karanj, INS Kalvari and INS Khanderi have been commissioned in the Indian Navy in 2017 and 2019, respectively. Salient features of Karanj:

(1) Karanj is seen as a small submarine having a length of 60 metres.

(2) It’s equipped with the best sensors in the world.

(3) Weapon package includes sufficient wire-guided torpedoes and sub-surface to surface missiles to neutralise a large enemy fleet. For self-defence, it has a state-of-the-art torpedo-decoy system.

(4) It is fitted with an integrated platform management system to provide centralised propulsion and machinery control. The powerful diesel engines can quickly charge batteries for a stealthy mission profile.

(5) It is fitted with a permanent magnet synchronous motor, making it one of the quietest submarines in the world.

(6) Its modular construction enables up-gradation to air-independent propulsion in future.

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

OBITUARIES

1. Dhyan Chand Awardee Veteran Indian Athlete Ishar Singh Deol passes away: Dhyan Chand National Sports Award-winning veteran Indian athlete Ishar Singh Deol, has passed away. Punjab-based Deol won the Dhyan Chand National Award in 2009 for his lifelong contribution towards sports. He was specialised in the field sports of discus and shot put. He had competed in the first three Asian Games and won a bronze medal in the second Asian Games held in Manila, the Philippines in 1954.

Daily GK Update - 9th March, 2021

 NATIONAL UPDATES:

 1. PM Modi addresses ‘Janaushadhi Diwas’ celebrations: Prime Minister Narendra Modi has addressed ‘Janaushadhi Diwas’ celebrations through video conference. He dedicated to the nation the 7500th Janaushadhi Kendra at NEIGRIHMS, Shillong during the event. He interacts with beneficiaries of Pradhan Mantri Bhartiya Janaushadhi Pariyojana and also gives awards to stakeholders by recognizing their excellent work. Union Minister for Chemicals & Fertilizers will also be present on the occasion. 1st March to 7th March is celebrated as ‘Janaushadhi Week’ across the nation with the theme of “Jan Aushadhi – Seva Bhi, Rozgar Bhi” for creating awareness about the use of generic medicines. Various functions across the country are organized like health checkup camps, Jan Aushadhi Paricharcha, Teach Them Young, panel discussions with doctors, etc. this week.

About the Janaushadhi Yojana: Janaushadhi Yojana is becoming a big friend of poor and middle-class families. It is becoming the medium of both service and employment. There were not even 100 centres in India six years ago and we hope to achieve the target of 10,000 centres. Poor and middle-class families are saving about ₹3,600 crores every year on expensive medicines.

 2. Ramesh Pokhriyal Inaugurates New Delhi World Book Fair 2021: The Union Education Minister Ramesh Pokhriyal has inaugurated the New Delhi World Book Fair 2021-Virtual Edition, through video-conferencing. The program has been organized by the National Book Trust (NBT). The New Delhi World Book Fair 2021 is the 29th edition of the annual event and for the first time, the fair will be held virtually due to the ongoing Covid-19 pandemic. The theme of the 2021 New Delhi World Book Fair is ‘National Education Policy-2020’. The NEP 2020 was passed by the Union Cabinet last year, which proposes several significant changes in the existing education policy.

Note: National Book Trust Founded: 1 August 1957; National Book Trust President: Govind Prasad Sharma; National Book Trust Headquarters: Vasant Kunj, Delhi.

 3. India’s first ‘Transgender Community Desk’ opens in Telangana: The Cyberabad Police has launched India’s first-ever Transgender Community Desk’ at the Gachibowli Police Station in Hyderabad, Telangana. This desk is the first-of-its-kind gender-inclusive community policing initiatives in the country. The desk was formally inaugurated on Saturday by Cyberabad Police chief VC Sajjanar in a ceremony that was attended by over 200 transgender people. Earlier in 2014, the Supreme Court recognised the transgender community as a third gender along with male and female and ruled that they have equal privilege over the fundamental rights enshrined in the Indian Constitution.

About the Transgender Community Desk: It is the world’s first-ever help desk for the transgender community and it will be managed by a Police Liaison Officer and a member of the transgender community who is designated as a community coordinator. It will also be the focal point for all grievance redressal among the transgender community in Cyberabad Commissionerate.

Benefits of the Desk: The transgender desk will provide support to file cases in offences related to violence or discrimination against any transgender person. Among other services, the desk will also provide counselling, legal aid, life-skills, soft skills training, job placements, and referral linkages to welfare schemes in partnership with the Department of Women & Child Welfare and District Legal Services Authority. The Society for Cyberabad Security Council will organise monthly employability training and life-skill training and facilitate access to job opportunities. Prajwala will assist the desk to facilitate safe space for any transgender person who needs an emergency transit stay.

Note: Chief Minister of Telangana: K Chandrasekhar Rao; Governor: Tamilisai Soundararajan.

 4. Indian Railways install Mobile Train Radio Communication system: Indian Railways’ Western Railway zone has introduced a mobile train radio communication (MTRC) system to facilitate direct and continuous communication between the train crew and the control centre and station master. Through effective communication, this technologically advanced system will help in averting train accidents. This new communication system has already been deployed in 105 rakes, operating between Churchgate to Virar over Mumbai’s suburban segment. About the MTRC system:

(1) This system uses the lowest time to connect calls i.e. 300 milliseconds and it is the first time that MTRC is commissioned in India.

(2) The MRTC acts in a similar way to that of air traffic control (ATC) for aircraft.

(3) The system will monitor, track and aid in communication between the trains and the control room thereby ensuring smooth movement of rakes, as well as help in preventing adverse events.

(4) The current conventional VHF-based communication system, named Mobile and CUG, lacks the capability of enabling interaction between the train crew and the controllers. The new system can also provide real-time information on train operation during the monsoon season.

(5) With a two-year warranty and five years of annual maintenance charges (AMC), the new digital MTRC system has been supplied at a cost of approximately $820,000.

Note: Union Minister of Railways: Piyush Goyal.

 INTERNATIONAL UPDATES:

 1. Ligia Noronha appointed UN Assistant Secretary-General: UN chief Antonio Guterres has appointed leading Indian economist Ligia Noronha as Assistant Secretary-General and Head of the New York Office of the United Nations Environment Programme (UNEP). Prior to joining the UNEP, Noronha worked at The Energy and Resources Institute (TERI) in New Delhi as Executive Director (Research Coordination) and as Director of the Division on Resources, Regulation and Global Security.

About Ligia Noronha: Noronha is an economist with over 30 years of international experience in the field of sustainable development. She has worked since 2014 as Director of UNEP’s Economy Division based in Nairobi, leading UNEP’s work on climate mitigation and energy transitions; on inclusive green economies, sustainable consumption and production, as well as on trade and sustainable finance, and the nexus of environment, pollution and health.

Note: United Nations Environment Programme Headquarters: Nairobi, Kenya; United Nations Environment Programme Head: Inger Andersen; United Nations Environment Programme Founder: Maurice Strong; United Nations Environment Programme Founded: 5 June 1972.

 2. India, Norway to jointly work in marine spatial planning for next 5 yrs: India and Norway have agreed to jointly work in the area of marine spatial planning in the oceanic space for the next five years. The two countries have decided to extend support for sustainable ocean resources utilisation to advance economic and social development in coastal areas. The initiative known as Marine Spatial Planning will be implemented by the Ministry of Earth Sciences through National Centre for Coastal Research for India.

 OTHER UPDATES:

 BANKING AND FINANCE

1. EPFO keeps interest rate unchanged at 8.5% for 2020-21: The board of Employees’ Provident Fund Organisation (EPFO) has kept the interest rates on Provident Fund deposits for the financial year 2020-21 at 8.5 per cent. The rate has been kept unchanged, as in 2019-20. The decision was taken by the Central Board of Trustees, at the 228th meeting, under the chairmanship of Labour Minister Santosh Kumar Gangwar. Last year, in March, EPFO had reduced the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20. For the financial year 2018-19, the interest rate was fixed at 8.65 per cent. The EPFO had provided an 8.55 per cent interest rate to its subscribers for 2017-18 and an interest rate was 8.65 per cent for the financial year 2016-17.

Note: CEO of EPFO: Sunil Barthwal; EPFO Founded: 4 March 1952; EPFO Headquarters: New Delhi.

 BUSINESS AND ECONOMY 

1. SEBI cancels Sahara India Financial Corp’s registration as sub-broker: Markets regulator SEBI has cancelled the certificate of registration of Sahara India Financial Corporation Ltd as a sub-broker citing its failure to fulfil the “fit and proper” criteria. The regulator had appointed a designated authority in 2018 to enquire whether Sahara India Financial violated provisions of Intermediaries Regulations. According to the designated authority’s report, considering the antecedents of Subrata Roy Sahara and the various judicial pronouncements against him and other group companies of Sahara, it is determined that Sahara India Financial (noticee) is not a “fit and proper person” to continue as a sub-broker in the securities market.

In the 12-page order passed, Sebi Whole Time Member G Mahalingam has mentioned actions taken against certain Sahara entities as well as about the case involving Sebi and two Sahara group firms: Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL), regarding funds raised from investors.

Note: Securities and Exchange Board of India Founded: 12 April 1992; Securities and Exchange Board of India Headquarters: Mumbai; Securities and Exchange Board of India Agency executive: Ajay Tyagi.

 2. Naureen Hassan appointed as 1st VP & COO of Federal Reserve Bank: Indian-origin Naureen Hassan has been appointed as the first Vice President and Chief Operating Officer (COO) of the New York-based Federal Reserve Bank, by the Board of Governors of the Federal Reserve System. Hassan, whose parents had immigrated from India, is a 25-year veteran of the financial services industry with expertise in strategy, digital transformation, cybersecurity and regulatory/risk management. With this new role, Hassan will become the second-highest-ranking officer of the New York Fed as well as an alternate voting member of the Federal Open Market Committee. Prior to this, she was the Chief Digital Officer for Morgan Stanley Wealth Management (MSWM). She will take over the new role with effect from March 15, 2021.

Note: CEO of the Federal Reserve Bank: John C. Williams; Federal Reserve BankChairperson: Jerome Powell; Federal Reserve BankFounded: 23 December 1913; Federal Reserve Bank HQ: New York, United States.

 DEFENCE

1. Rajnath Singh Attends 3-day Combined Commanders’ Conference: Defence minister Rajnath Singh has attended the three-day Combined Commanders’ Conference (CCC) along with top defence officials at Kevadia, Gujarat. Theaterisation of armed forces, self-reliance in the defence sector and evolving threats in the region will be the focus. It is a premier brainstorming event of the Military Commanders from the three Services. Defense Minister, Rajnath Singh held deliberations on Day 2. In a first, valedictory session on the third and final day chaired by PM Narendra Modi. The last CCC was held in 2018 at the Air Force Station, Jodhpur.

The combined apex level military leadership of the country is reviewing the security situation and defence preparedness of the Armed Forces, and deliberating pertinent organisational issues for evolving a joint military vision for the future. In a major deviation from the past, the scope of the conference this year has been expanded to make it a multi-layered, interactive, informal and informed event with the added participation of about 30 Officers and soldiers of various ranks from the three Services.

2. India inks pact with Philippines for sale of ‘defence equipment’ including BrahMos: India has signed a key pact with the Philippines called “implementing arrangement” for “procurement of defence material and equipment”, as per which the country will buy the BrahMos cruise missiles from India. The BrahMos missile is produced by an India-Russian joint venture “BrahMos Aerospace” and it can be launched from submarines, ships, aircraft or from land platforms. It is the fastest supersonic cruise missile in the world. Currently the missile is used only by India, however several countries including Philippines, Vietnam, South Africa, Egypt, Oman, Chile and Brunei have expressed interest in the procurement of the missile.

 OBITUARIES

1. Muthoot Group Chairman M G George Muthoot passes away: M G George Muthoot, the Chairman and Whole Time Director of The Muthoot Group, has passed away. He was the mentor and visionary leader who played a pivotal leadership role through his long career in building one of the most trusted financial powerhouses in the country. Mr George became the managing director of Muthoot Group in 1979 and its chairman in 1993. Muthoot Finance Ltd is one the largest gold loan NBFCs in India, headquartered in Kochi, Kerala.

Daily GK Update - 8th March, 2021

 NATIONAL UPDATES:

 1. India downgraded from ‘free’ to ‘partly free’ in democracy report: India’s status as a democracy and free society has been downgraded to “partly free” in the latest annual report on global political rights and liberties by Freedom House, a US government-funded NGO that studies political freedom around the world. The report titled “Freedom in the World 2021 – Democracy under Siege”. India’s fall “from the upper ranks of free nations could have a particularly damaging impact on global democratic standards”. India had been rated as “free” in Freedom House’s reports for 2018, 2019 and 2020, though its scores on a scale of 100 had declined during this period from 77 to 71. In the latest report, India had a score of 67 out of 100.

 2. Digital platform ‘Jagrut Tripura’ launched by CM to boost e- governance: The Tripura government has come up with a digital platform ‘Jagrut Tripura’ to help people get benefits from various schemes of the Centre and the state government. At least 102 schemes of various departments of both governments are available on the platform. The ‘Jagrut Tripura’ will empower citizens of the northeastern state. The digital platform is one of the many proactive initiatives undertaken by the state government to spur a technology-led innovation ecosystem to make ‘Atmanirbhar’ (self-reliant) Tripura. The project was developed by EasyGov, a Jio Group company, and it will be available to all the residents of Tripura. “With ‘Jagrut’, we want to empower people to get the benefits they deserve, and the focus is on building a family-centric, progressive model having ‘one data one source’ and privacy at the core.

Note: Chief Minister of Tripura: Biplab Kumar Deb; Governor: Ramesh Bais.

 3. GoI Sets up 259-Member panel to Commemorate 75 Years of India’s Independence: The Government of India has set up a 259-member high-level national committee, to be headed by Prime Minister Narendra Modi to commemorate 75 years of India’s independence. The committee will provide policy direction and guidelines for the formulation of programmes for the commemoration of the 75th anniversary of Indian Independence, at the national and international levels. The celebrations are proposed to be launched 75 weeks prior to August 15, 2022, on March 12, 2021, which is the 91st anniversary of the historic Salt Satyagraha led by Mahatma Gandhi. The celebrations will be held at the national and international level in the form of ‘Azadi Ka Amrit Mahotsav’. The high-level committee will hold its first meeting on March 8, 2021. Members include:

(1) The members of the panel include former president Pratibha Patil, Chief Justice of India SA Bobde, NSA Ajit Doval, 28 chief ministers, artistes like Lata Mangeshkar, Nobel laureate Amartya Sen, senior BJP leader LK Advani, almost all Union ministers and several governors.

(2) Opposition leaders like Congress chief Sonia Gandhi, CPI(M) general secretary Sitaram Yechury, NCP leader Sharad Pawar, TMC supremo Mamata Banerjee and former Uttar Pradesh chief ministers Mulayam Singh Yadav and Mayawati are also part of the committee.

 4. Delhi govt approves formation of separate board in city: Delhi government has approved the formation of a separate school board for nearly 2,700 schools in the city. There are around 1,000 Delhi government schools and about 1,700 private schools, most of them affiliated to the CBSE, in the city. The new Board will have a governing body headed by the Education Minister of the Delhi government and an executive body headed by a chief executive officer. The DBSE will be aimed at imparting such education that prepares “fiercely patriotic” and self-dependent students who serve the society and the country in a selfless manner. The Board will bring in best international practices and high-end techniques in school education. It will impart education as per the aptitude of the students.

Note: Chief Minister of Delhi: Arvind Kejriwal; Governor of Delhi: Anil Baijal.

 INTERNATIONAL UPDATES:

 1. India-Sweden Virtual Summit 2021: Prime Minister Narendra Modi has participated in the virtual India-Sweden summit, with the Prime Minister of Sweden, Stefan Lofven. The virtual summit was organised to exchange views on regional and global issues and to discuss the bilateral relations between the two countries. This was the fifth interaction between the two leaders since 2015.

About the Summit: Both the leaders underlined that the longstanding close relations between India and Sweden were based on shared values of democracy, rule of law, pluralism, equality, freedom of speech, and respect for human rights. Prime Minister Modi welcomed Sweden’s decision to join the International Solar Alliance (ISA). The leaders also noted the growing member-ship of the India-Sweden joint initiative – the Leadership Group on Indus-try Transition (LeadIT) that was launched during the UN Climate Action Summit in September 2019 in New York. The two leaders also discussed the Covid-19 situation including the vaccination drive and stressed the need for vaccine equity by providing urgent and affordable access to vaccines across all nations.

Note: Sweden capital: Stockholm; Currency: krona; PM of Sweden: Stefan Lofven.

 2. International Women’s Day: 8th March: International Women’s Day is celebrated on the 8th of March every year. This day celebrating the social, economic, cultural and political achievements of women. The day also marks a call to action for accelerating women’s equality. International Women’s Day is a time to reflect on progress made, to call for change and to celebrate acts of courage and determination by ordinary women, who have played an extraordinary role in the history of their countries and communities. This year’s theme for International Women Day, “Women in leadership: Achieving an equal future in a COVID-19 world”, celebrates the tremendous efforts by women and girls around the world in shaping a more equal future and recovery from the COVID-19 pandemic. The United Nations began celebrating International Women’s Day in the International Women’s Year, 1975. In 1977, the United Nations General Assembly invited member states to proclaim March 8 as the UN Day for women’s rights and world peace.

Note: Secretary-General of United Nations: Antonio Guterres; United Nations founded: 24 October 1945; Headquarters of United Nations: New York, United States.

 OTHER UPDATES:

 SPORTS

 1. J&K tops medals tally at Khelo India Winter National Games: Union Territory of Jammu and Kashmir topped the medals tally in the second edition of the Khelo India Winter National Games.  J&K won 11 gold, 18 silver and 5 bronze medals. The five-day mega sports event which began on the 26th of February concluded in the famous ski resort of Gulmarg in north Kashmir’s Baramulla district. The event was e-inaugurated by Prime Minister Narendra Modi.

About the Khelo India Winter National Games: The second edition of the Khelo India winter games is a major step towards making Jammu and Kashmir a hub of the winter games. In the event, more than 1,000 athletes from 27 states and union territories took part. The event was organised by the Union Ministry of Youth Affairs and Sports in collaboration with the J&K Sports Council and the Winter Games Association of Jammu and Kashmir.

Note: Lieutenant Governor of Jammu and Kashmir: Manoj Sinha.

 2. Indian Women’s Trap Team wins silver at ISSF Shotgun World Cup, taking country’s final medal tally to 2: The Indian Women’s Trap team trio of Kirti Gupta, Manisha Keer and Rajeshwari Kumari won a silver medal in International Shooting Sport Federation (ISSF) World Cup Shotgun 2021, in Cairo, Egypt. The trio lost to Russia’s Ekaterina Subbotina, Dana Semianova, Luliia Saveleva, 4-6 in the finals. With this, the Indian team managed to collect two medals at the tournament. Earlier, Men’s Skeet team bagged a bronze medal.

 BANKING AND FINANCE

 1. Axis Securities’ new platform to make investment in bond: Axis Securities has announced the launch of ‘YIELD’ – an online platform to buy and sell bonds as well as debentures in the secondary market. By offering competitive rates and technical know-how, YIELD would empower the investors to make the right investment decision. The trades and settlement of transactions executed will be reported on the BSE NDS (new debt segment) platform.

About the YIELD: “YIELD is the first-of-its-kind initiative that allows retail investors direct access to the debt instruments,” the brokerage house said in a statement. This new tool will remove the hassle of filling up physical forms or the need for separate KYC with the bond institutions, it added. To facilitate transactions only insecure options, it aggregates only ‘AAA’ to ‘A’ rated quality debt instruments available for investment in the secondary market.

Note: Axis Bank Commenced operations: 1994; Axis Bank Headquarters: Mumbai, Maharashtra.

Axis Bank Tagline: Dil Se Open; Axis Bank MD and CEO: Amitabh Chaudhry.

 BUSINESS AND ECONOMY

 1. Kotak Mahindra Bank tie-up with Indian army to handle salary accounts: Private sector lender Kotak Mahindra Bank will handle the salary account of the Indian army personnel. The bank has signed a memorandum of understanding (MoU) with the Indian Army here for a salary account. The MoU enables Kotak to offer its salary account proposition, combined with exclusive benefits for the Indian Army, to all army personnel – both active and retired. Through the Kotak salary account, all personnel of the Indian army will get access to the full range of Kotak’s products and services including a zero-balance salary account that earns up to 4 per cent interest per annum with free unlimited ATM transactions on all VISA ATMs and anywhere banking across the bank’s network of 1,603 branches and 2,573 ATMs across India. Benefits of Kotak salary account:

(1) The salary account will cover other benefits such as a bespoke salary account for the army personnel, enhanced complimentary personal accident insurance cover – for both on-duty and off-duty incidents.

(2) It covers accidental death for total or partial permanent disability. It will also offer special education benefit for children and additional girl child benefit by covering dependent children of up to 22 years in the event of an accident claim by the salary account holder.

(3) Among others, the account will also offer exclusive benefits on loans and credit cards by way of attractive rates and zero processing fees on personal, home and car loans and waiver on joining fees on credit cards.

(4) Zero-balance; family banking accounts, free online payment transactions, unlimited cheque books, best-in-class rates for dematerialised accounts (Demat) and best-in-class brokerage rates on trading accounts are the other benefits.

Note: Kotak Mahindra Bank CEO: Uday Kotak; Kotak Mahindra Bank Establishment: 2003; Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra; Kotak Mahindra Bank Tagline: Lets make money simple.

 AWARDS AND HONOURS

 1. Bihari Puraskar 2020 to be awarded to Mohankrishna Bohara: The 30th Bihari Puraskar for 2020 will be given to Mohankrishna Bohara for his Hindi book of Criticism, titled Taslima: Sangharsh aur Sahitya. The K.K. Birla Foundation announced this in New Delhi. The book was published in 2016.

About the Bihari Puraskar: Bihari Puraskar carries award money of two lakh 50 thousand rupees, a Citation and a Plaque. The award is one of the three literary awards instituted by the K.K. Birla Foundation in 1991. Named after famous Hindi poet Bihari, the award is given every year for an outstanding work in Hindi or Rajasthani published in the last 10 years by a Rajasthani writer.

 OBITUARIES

 1. Renowned Kannada poet Lakshminarayana Bhatta passes away: Noted Kannada poet, critic and translator NS Lakshminarayana Bhatta has passed away. Popularly known as ‘NSL’ in the Kannada literary world, he was born in 1936 in the Shivamogga district. A was recipient of the Karnataka Sahitya Akademi award and Kannada Rajyotsava Award among others, his popular works include Thaye Ninna madilali. Bhatta had translated about 50 famous sonnets of William Shakespeare (Suneeta), the poetry of TS Elliot and works of the noted poet William Butler Yeats (Chinnada Hakki) into Kannada. He had also translated several other prominent English literary works into Kannada. He served as a Professor at Bengaluru University, working in the Kannada Literature department, and is revered for popularizing the works of saint-poet Shishunala Sharif.

Daily GK Update - 7th March, 2021

 NATIONAL UPDATES:

 1. UNGA adopts India-led resolution declaring 2023 as Int’l Year of Millets: The UN General Assembly adopted by consensus a resolution sponsored by India and supported by over 70 nations declaring 2023 as the International Year of Millets. The International Year of Millets is aimed at raising awareness about the health benefits of the grain and its suitability for cultivation under changing climatic conditions. India’s Permanent Mission to the UN also distributed savoury millet snack murukku to all UN Member States.

About the resolution: The 193-member General Assembly unanimously adopted the resolution, declaring 2023 as the International Year of Millets. The resolution titled International Year of Millets 2023′ was initiated by India with Bangladesh, Kenya, Nepal, Nigeria, Russia and Senegal and was co-sponsored by over 70 nations. The resolution considers the urgent need to raise awareness of the climate-resilient and nutritional benefits of millets and to advocate for diversified, balanced and healthy diets through the increased sustainable production and consumption of millets.

Note: UN General Assembly President: Volkan Bozkır; UN General Assembly Headquarters: New York, United States; UN General Assembly Founded: 1945, New York, United States.

 2. Tarun Bajaj to take additional charge of Revenue Secretary: Department of economic affairs secretary, Tarun Bajaj has been given the additional charge of revenue secretary. Present revenue secretary Ajay Bhushan Pandey retires on February 28. The Centre has decided to not grant an extension to finance secretary Ajay Bhushan Pandey who was also holding additional charge of the revenue department in the finance ministry.

About Tarun Bajaj: Tarun Bajaj, an old hand at the Finance Ministry, assumed charge as Economic Affairs secretary last May, at a time when India saw the worst growth contraction in history on account of the Covid-19 pandemic. Prior to taking over this post, he was Additional Secretary in the Prime Minister’s Office. Bajaj, a 1988-batch Haryana-cadre IAS officer, is not new to the functioning of the finance ministry as this is his third stint in the ministry.

3. Ease of Living Index 2020 released: Bengaluru emerged as the top city on the government’s Ease of Living Index 2020 that was released by Housing and Urban Affairs Minister Hardeep Singh Puri. Pune was second and Ahmedabad was ranked third among 111 cities. A total of 111 cities under the Smart Cities Program, participated in the assessment exercise that was conducted in 2020. The Ease of Living Index 2020 ranked cities in the following two categories: (1) Million+ populated cities – those with a population of more than a million; (2) Less than Million populated cites – those with a population of less than a million; (3) No city has been included from West Bengal because of the “data challenge”.

Million+ category: Bengaluru emerged as the top performer in this category. This was followed by Pune, Ahmedabad, Chennai, Surat, Navi Mumbai, Coimbatore, Vadodara, Indore, and Greater Mumbai respectively.

Less than Million category: In this group, Shimla was ranked the highest in ease of living. This was followed by Bhubaneshwar, Silvassa, Kakinada, Salem, Vellore, Gandhinagar, Gurugram, Davangere, and Tiruchirappalli.

4. Indore and NDMC tops Municipal Performance Index (MPI) 2020: The Ministry of Housing & Urban Affairs has released the final rankings of the Municipal Performance Index (MPI) 2020. The ranking has classified municipalities into two categories based on their population which are: million-plus category and the less than million categories. The Municipal Performance Index will help Municipalities in better planning and management, filling the gaps in city administration, and improving the liveability of cities for its citizens.

Million plus population category: Indore has topped this list, followed by Surat and Bhopal.

Less than a million category: New Delhi Municipal Council (NDMC) emerged as the leader, followed by Tirupati and Gandhinagar.

Note: Minister of State (IC) of the Ministry of Housing and Urban Affairs: Hardeep Singh Puri.

 INTERNATIONAL UPDATES:

 1. Australia building world’s first platypus sanctuary: Australian conservationists have unveiled plans to build the world’s first refuge for the platypus, to promote breeding and rehabilitation as the duck-billed mammal faces extinction due to climate change. The Taronga Conservation Society Australia and the New South Wales State government said they would build the specialist facility, mostly ponds and burrows for the semi-aquatic creatures, at a zoo 391 km from Sydney, by 2022.

Note: Australia Capital: Canberra; Australia Currency: Australian dollar; Australia PM: Scott Morrison.

 2. India inks pact with Philippines for sale of ‘defence equipment’: India has signed a key pact with the Philippines called “implementing arrangement” for “procurement of defence material and equipment”, as per which the country will buy the BrahMos cruise missiles from India. Philippine Defence Secretary Delfin Lorenzana, who was also present at the pact’s signing ceremony in Manila.

About the BrahMos missile: The BrahMos missile is produced by an India-Russian joint venture “BrahMos Aerospace” and it can be launched from submarines, ships, aircraft or from land platforms. It is the fastest supersonic cruise missile in the world. Currently, the missile is used only by India, however, several countries including the Philippines, Vietnam, South Africa, Egypt, Oman, Chile and Brunei have expressed interest in the procurement of the missile.

Note: Philippines President: Rodrigo Duterte; Philippines Capital: Manila; Philippines Currency: Philippine peso.

 3. 11th QS World University Rankings 2021 released: The 11th edition of the QS World University Rankings was released on March 04, 2021. The QS World University Rankings 2021 ranks the top 1,000 universities from around the world, covering 80 different locations. There are 47 new entrants on the list. The Massachusetts Institute of Technology (MIT), the United States has retained its top position as the best university for the ninth year in a row. Stanford University, the United States and the University of Cambridge, United Kingdom are the second and third best University globally in QS World University Rankings 2021.

From India:

(1) The Indian Institute of Technology, Bombay has emerged as the best institution. It is placed at 172 positions. No institute in India is in the top 100.

(2) Indian Institute of Science (185), Indian Institute of Technology, Delhi (193) are the only other universities from India to feature in the top 200.

(3) In terms of subject, twelve Indian universities and higher education institutions have made it to the top 100, with three Indian Institutes of Technology (IITs) making it to the top 50 for their respective subject.

(4) The 12 universities are IIT Bombay, IIT Delhi, IIT Madras, IIT Kharagpur, IISC Bangalore, IIT Guwahati, IIM Bangalore, IIM Ahmedabad, JNU, Anna University, University of Delhi, and O.P Jindal University

(5) IIT Madras ranks 30th for Petroleum Engineering, IIT Bombay ranks 41st and IIT Kharagpur ranks 44th for Minerals and Mining Engineering, and the University of Delhi ranks 50th for Development Studies.

 4. SpaceX successfully tests Starship SN10 prototype rocket: Elon Musk owned private rocket company, SpaceX successfully tested its Starship prototype rocket “SN10 “ after two recent failed attempts. SpaceX launched the rocket prototype, to an altitude of 10,000 kilometres and then landed back on the ground. However, the rocket exploded about six minutes after landing. But this test launch is deemed successful because the goal of this launch was to gather information on how the flaps work to control the rocket when it is horizontal as it is falling back to earth.

About the “SN10“: The SN10 is an early prototype of the Starship Mars rocket of SpaceX which aims to get people and payloads to the moon, Mars and other distant destinations. This rocket is also a part of the company’s strategy to phase out its other flight hardware including, the Falcon 9 and Falcon Heavy rockets and Dragon cargo and crew capsules, and let Starship shoulder the entire load.

Note: SpaceX founder & CEO: Elon Musk; SpaceX president & COO: Gwynne Shotwell; SpaceX Founded: 2002; SpaceX Headquarters: California, United States of America.

 OTHER UPDATES:

 

SPORTS

 1. Kieron Pollard becomes 3rd Man to Hit 6 Sixes in an over: Kieron Pollard hit six sixes in an over to guide West Indies to a comprehensive four-wicket win against Sri Lanka in the first game of their three-match T20 series. Pollard joins former India batsman Yuvraj Singh as the only other player to hit six sixes in an over in T20 cricket, and just the third man to hit six sixes in an international match, emulating Herschelle Gibbs (South Africa) and Yuvraj Singh (India). Pollard achieved the feat when he hit Sri Lanka’s Akila Dananjaya out of the park 6 times in the 6th over of West Indies’ successful chase in the first T20I at the Coolidge Cricket Ground in Antigua. Sri Lanka leg-spinner Akila Dananjaya (3-62) was the unfortunate bowler, pummelled in all directions by Pollard, and this coming after he had taken a hat-trick in his previous over.

 BANKING AND FINANCE

 1. NPCI Partners SBI Payments to launch “RuPay SoftPoS” for Merchants: National Payments Corporation of India (NPCI) and SBI Payments have partnered to launch “RuPay SoftPoS” for Indian merchants. The RuPay SoftPoS solution will provide a cost-effective acceptance infrastructure to retailers at a nominal cost. This innovative solution has the capability to transform NFC enabled smartphones into merchant Point of Sale (PoS) terminals for the retailers.

About the RuPay SoftPoS:

(1) RuPay SoftPoS is expected to provide seamless, cost-effective acceptance infrastructure to retailers at a nominal cost, and help deepen the digital payment acceptance among millions of underserved Indian MSMEs.

(2) RuPay SoftPoS will enable merchants to use their near-field communication (NFC)-enabled smartphones as the point of sale (PoS) terminals and accept payment up to Rs 5,000 through a simple tap and pay mechanism.

(3) Merchants can convert their existing android smartphone devices into a payment terminal by simply downloading a supported app.

(4) This solution will revolutionise the way micro and small merchants receive payments and create a demarcated shift in their tendency to deal in cash to accepting secure, contactless digital payments instead.

Note: National Payments Corporation of India MD & CEO: Dilip Asbe; National Payments Corporation of India Headquarters: Mumbai; National Payments Corporation of India Founded: 2008.

 BUSINESS AND ECONOMY

 1. HDFC ERGO launches Business Kisht Suraksha cover: HDFC ERGO General Insurance has launched the “Business Kisht Suraksha” cover. It is a unique cover that was launched with the aim of protecting the balance sheet of Microfinance Institutions (MFIs), financial institutions and banks if any catastrophe or a natural disaster occurs.

About Business Kisht Suraksha: This was launched with the aim of limiting the impacts on the balance sheet of financial institutions which occurs because of non-payment of EMIs by borrowers or because of several calamities like earthquakes, floods, cyclones. The Business Kisht can be customised as per the needs of the individual MFI or financial institution (FI). It can also be tailor-made based on the geographical presence of the borrower, MFI or any FIs. The MFIs or FIs would also be given the option to select the number of EMIs which might need insurance coverage.

Note: HDFC ERGO CEO: Ritesh Kumar; HDFC ERGO Headquarters: Mumbai; HDFC ERGO Founded: 2002.

 2. Agritech firm Arya partners Canara Bank to extend warehouse finance to farmers: Post-harvest agritech firm Arya has entered into a strategic partnership with Canara Bank for collateral management and warehousing services. The objective is to support and extend finance to farmers, farmer producer organisations (FPOs), processors and various depositors stocking their produce in warehouses managed by Arya. Through this partnership, Arya will be able to give zero paperwork, instant credits, robust solutions and much more to our farmers, FPOs, processors and depositors.

 DEFENCE

 1. DRDO successfully flight test SFDR technology: The Defence Research and Development Organisation (DRDO) conducted a successful flight test of Solid Fuel Ducted Ramjet (SFDR) technology from the integrated test range (ITR), Chandipur, off Odisha coast. The SFDR technology will help DRDO with the technological advantage to develop long-range air-to-air missiles (AAMs). DRDO began developing SFDR first in 2017 and had conducted successful tests in 2018 and 2019 as well.

About SFDR: The SFDR is a missile propulsion system being developed primarily by the Defence Research and Development Laboratory (DRDL) and Research Centre Imarat (RCI) in Hyderabad. The High Energy Material Research Laboratory (HEMRL) has developed the nozzle-less booster while the ramjet engine is being developed with Russian assistance. The performance of the missile was monitored using the data captured by Electro-Optical, Radar and Telemetry instruments deployed by ITR and confirmed successful demonstration of the mission objectives.

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