Daily GK Update - 16th March, 2021

 NATIONAL UPDATES:

 1. NITI Aayog leaves 6 PSBs out of privatisation plan: The Niti Aayog has kept public sector banks (PSBs) that were part of the last round of consolidation and State Bank India out of the privatisation plan. These banks are Punjab National Bank, Union Bank, Canara Bank and Indian Bank, and Bank of Baroda and State Bank of India that were part of an earlier round of consolidation.    The government will soon take a call on the two banks and one general insurer that will be taken up for privatisation in the next fiscal year.

2. Maharashtra govt launches women empowerment scheme ‘Mahasamruddhi Mahila Sashaktikaran scheme’: The Maharashtra government launched a women empowerment scheme to increase the participation of rural women across fields. Mahasamruddhi Mahila Sashaktikaran scheme was come into effect on March 8. To boost the confidence of women, state government will promote listing the names of wives alongside their husbands on the 7/12 extract, which is the official agricultural land record of an individual or family registered with the state government’s revenue department. The inclusion of wives’ names on house property documents will also be promoted. Under this scheme, the self-help groups will help women display their skills and provide them sustainable markets and effective branding tools. The women cell and the state rural livelihood mission will also be a part of this mission.

3. First project Genome Mapping in Indian Ocean will be launched: In the Indian Ocean, the National Institute of Oceanography (NIO) will launch the first-of-its-kind project of Genome Mapping. Indian Ocean covers about 20% of the Earths’s water surface and so is the third largest water body in the world. Its objective is to bather samples of genome mapping of microorganisms in the Indian Ocean. It is also necessary to understand the biochemistry and the response of the Ocean to climate change, nutrient stress and increasing pollution. The cost of the project and duration is Rs 25 crore and will take around three years to complete.

What is Genome Collection: Samples will be collected by the researchers from several stretches of the ocean at an average depth of about 5 km. It is just like gene mapping which is carried out on blood samples collected from humans, the scientists will map these in the bacteria, microbes found in the ocean. Deoxyribose Nucleic Acid (DNA) and Ribonucleic Acid (RNA) mapping shows the nutrients present in them and also those lacking in various parts of the ocean.

What is Genome Mapping: When a specific gene is assigned or located into a particular region of a chromosome and determined the location of and relative distances between genes on the chromosome.

4. National Vaccination Day: 16th March: The National Vaccination Day, (also called the National Immunization Day), is celebrated every year on March 16 in India, to convey the importance of vaccination to the entire nation. The prime purpose behind the celebration of National Vaccination Day is to make all people aware of arming against polio and eradicating it completely from the world. In 2021, the National Vaccination Day is important as the country has started its biggest Covid-19 immunization programme.

History of the day: The day was first observed in the year 1995. It was in 1995 that India started the Pulse Polio Programme and the first dose of Oral Polio Vaccine was given. According to the World Health Organization, immunization is a process through which an individual’s immune system becomes fortified against foreign harm causing agent.

 INTERNATIONAL UPDATES:

 1. France launches first military exercises in space: France launched its first military exercise in space to evaluate its ability to defend its satellites and other defense equipment from an attack. The exercise, codenamed “AsterX” in memory of the first French satellite from 1965, will be based on 18 simulated events in an operations room. During the drill, the French military will monitor a potentially dangerous space object as well as a threat to its own satellite from another foreign power possessing a considerable space force.

2. INS Jalashwa reaches Madagascar’s Antsiranana Port with Indian Naval training team on-board: INS Jalashwa reached the port of Antsiranana, Madagascar with an Indian Naval training team on-board. The Indian Naval training team will be deployed in Madagascar for capacity building and training of the Malagasy Special Forces for two weeks. INS Jalashwa will leave for Comoros to deliver 1000 metric tonnes of rice and then will head to the Port of Ehoala in Madagascar to deliver a consignment of 1000 metric tonnes of rice and one lakh tablets of HCQ. The supplies of food assistance and support for capacity building to Madagascar is in line with Prime Minister Narendra Modi’s vision of SAGAR and India’s time-tested role as a net security provider in the Indian Ocean Region.

 3. India opens ‘energy office’ in Moscow as Delhi-Moscow increase focus in sector: India has opened an “energy office” in Moscow’s at the 45th floor of the Federation Tower that will have the presence of five top Indian energy PSUs even as Moscow and Delhi increase engagement in the sector. The five main Indian energy PSUs who will be present are–ONGC VIDESH Limited, Indian Oil Corp, GAIL (India), Oil India Limited, and Engineers India. The key objectives of IEO is to make all-out efforts for supporting the current assets, finding new business opportunities, involved in capacity building, tying for new technologies for skill development, import & export of petroleum products and services.

 OTHER UPDATES:

 BANKING AND FINANCE

 1. KVGB launches loan scheme for women entrepreneurs: The Dharwad-headquartered Karnataka Vikas Grameen Bank (KVGB) has launched the ‘Vikas Asha’ loan scheme for women. This new loan scheme is exclusively for women to meet business-related needs, including purchasing machinery/equipment/vehicle, and working capital requirements under micro and small enterprises, including retail trade. Under this scheme, the bank will extend loan up to a maximum of ₹10 lakh with a repayment period of 84 months.

2. Mastercard, Samsung Electronics, & Samsung Card sign MoU to develop biometric cards: Mastercard, Samsung Electronics’ System LSI Business, and Samsung Card has announced signing a memorandum of understanding (MoU) to develop a biometric card that features a built-in fingerprint scanner to authorize transactions securely at in-store payment terminals. Under the partnership, the companies aim to provide faster and secure payment experiences. The biometric authentication capability allows safer interactions and reduces physical contact points by eliminating the need to enter a PIN on a keypad. It also offers an additional layer of security to currently available credit cards by verifying the cardholder’s identity via a unique fingerprint.

 3. Srimathy assumes charge as Executive Director of Indian Overseas Bank: S Srimathy has assumed charge as Executive Director of Indian Overseas Bank (IOB) with effect from March 10. Prior to this assignment, she was serving as Chief General Manager (CGM) of Canara Bank. She had been deputed to NABARD (National Bank for Agriculture and Rural Development) as Chief Vigilance Officer (CVO) prior to taking over the present post in Indian Overseas Bank.

 BUSINESS AND ECONOMY

 1. U.S. becomes India’s second biggest oil supplier, Saudi plunges to No. 4: The United States overtook Saudi Arabia as India’s second biggest oil supplier last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts, data from trade sources showed. The switch in supplies, triggered by lower U.S. crude demand, coincided with Saudi Arabia’s voluntary extra 1 million bpd output cut on top of an agreement by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to maintain lower production.

 2. Tech Mahindra acquires majority stake in Perigord Asset Holdings: IT services firm Tech Mahindra has acquired a 70% stake in Perigord Asset Holdings, a digital workflow and artwork, labelling and BPO services firm. This acquisition will help Tech Mahindra to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors. The company will pay Euro 21 million for a 70% stake, and the balance 30% over the next four years at a valuation linked to the company’s financial performance.

 AWARDS AND HONOURS

 1. Forest officer Sasmita Lenka gets UN’s Asia Environmental Enforcement Award: Senior forest officer (DFO) from Odisha, Sasmita Lenka has been shortlisted to receive the United Nations (UN) Asia Environmental Enforcement Award, under ‘Gender Leadership and Impact’ category. The lady DFO will be presented the coveted international award for her notable work in busting pangolin smuggling rackets in Odisha.

 2. Chadwick Boseman wins his first Golden Globe posthumously: Chadwick Boseman’s widow, Taylor Simone Ledward, accepted the award for best actor in a motion picture drama on behalf of the late actor, who died in August of colon cancer at age 43- three months before Ma Rainey’s Black Bottom was released.             Boseman is the first Black winner in the category in nearly 15 years. (Forest Whitaker won at the 2007 ceremony for his performance as Idi Amin in The Last King of Scotland.) The honour also makes Boseman the first Black posthumous winner in an acting category

 3. ‘Digambara Kavi’ Nikhileswar wins Sahitya Akademi Award: Renowned writer Nikhileswar, and one among the six ‘Digambara Kavulu’ has been chosen for the Kendra Sahitya Akademi Award-2020 for his anthology of poems Agniswaasa penned in 2017. A poet with a focus on social issues for almost six decades now, Nikhileswar also contributed to English and Hindi languages. Nikhileswar was the founder-secretary of Viplava Rachayithala Sangham (VIRASAM) and was jailed under Maintenance of Internal Security Act (MISA) in 1971 for his revolutionary writings and also participating in civil rights movement.

 OBITUARIES

1. Renowned Padma Bhushan winning painter Laxman Pai passes away: Renowned Indian artist and painter Laxman Pai has passed away. The Goa-based painter was a recipient of the Padma Bhushan, India’s third-highest civilian honour. The former principal of the Goa College of Art had several laurels under his name including Padma Bhushan, Padma Shri, Nehru Award, and Lalit Kala Akademi Award.

Daily GK Update - 15th March, 2021

 NATIONAL UPDATES:

 1. Nitin Gadkari inaugurates two Technology Centres, three Extension Centres of MSME: Union Minister of Micro, Small and Medium Enterprises, Nitin Gadkari inaugurated the two Technology Centres and three Extension Centres of MSME virtually. The Technology Centres which were inaugurated have been set up at Visakhapatnam and Bhopal and the Extension Centres at Srinagar, Jaipur and Nagaur. The MSME has rolled out the Technology Centres Systems Programme  to develop the competitiveness ecosystems of MSME in  the country. These Technology Centres will train more than 16 thousand students annually and have  infrastructure for training and production.

 2. India’s Electric Vehicle financing industry projected to be Rs 3,70,000 Crore in 2030: India’s Electric Vehicle financing industry is projected to be Rs 3,70,000 Crore in 2030. This was said in the report titled Mobilising Electric Vehicle Financing in India, which was released by NITI Aayog and Rocky Mountain Institute India. The report highlights the role of finance in India’s transition to electric vehicles. The report analyses that the transition will require a cumulative capital investment of over 19 lakh crore rupees in electric vehicles, charging infrastructure, and batteries over the next decade. The report has also proposed a toolkit of 10 solutions that can be adopted in catalysing the required capital.

3. DoT Launches Online Certificate Course on 5G Technology: The Department of Telecommunications (DoT) has launched a new online certificate course on 5G technology to be conducted by the National Telecommunications Institute for Policy Research, Innovation and Training (NTIPRIT), which is the training institute of DoT. The course, which will be conducted from 9 March 2021 onwards, is 36 hours long and will be conducted over a period of 12 weeks every Tuesday, Wednesday and Thursday from 3:30 pm to 4:30 pm. Participants will also be allowed to record the session if they happen to miss it. DoT hopes that this course would act as a capsule programme for learning overall 5G technology from the perspective of Policymaking. The following topics will be covered under the course:

(1) The evolution from 1G to 5G.

(2) Introduction to 5G: Standardisation bodies, timelines and roadmaps, IMT 2020 vision and requirement, the spectrum for 5G, new radio, architecture, deployment options, global launches, availability of 5G devices, and use cases.

Note: Minister of Communications: Ravi Shankar Prasad.

 4. Tata Motors launches ‘Wheels of Love’ to support parenthood: Tata Motors has launched ‘Wheels of Love’, a holistic programme that supports new parents in the workforce. This is a move to promote a progressive culture of care, inclusion and sensitisation within the organisation across levels. A specially curated book, also aptly titled, Wheels of Love, puts forth various beliefs to enable new and expectant parents to successfully manage the needs of a growing family while also fulfilling their career goals. This guide book also provides valuable insights for managers to support their team members as they progress through the various stages of parenthood.

The most important aspects of the program include: (1) Announcing pregnancy in the workplace, understanding the manager’s dilemma, managing work performance effectively, handing over the job, managing maternity leave and transitioning back to work; (2) Dedicated counseling sessions for new parents to deal with emotional and psychological challenges that may arise; (3) One-to-one classes for pregnant / new mothers and their managers on how to manage work transitions; (4) Assigning a friend to the new mothers to keep in touch with their workplaces during the maternity leave; (5) Webinars on relevant topics including how to prepare for newborn babies, childcare tasks for couples with dual careers, and much more.

Note: Tata motors HQ: Mumbai; CEO: Guenter Butschek.

 INTERNATIONAL UPDATES:

1. PM Modi Virtually Attends First Quad Summit 2021: Prime Minister Narendra Modi, US President Joe Biden, Australian Prime Minister Scott Morrison and Japan Prime Minister Yoshihide Suga come together for the first QUAD Summit. The meeting was held virtually during which the four participants will exchange views on different areas of cooperation like maintaining a free, open and inclusive Indo-Pacific region, COVID-19, emerging and critical technologies, maritime security, and climate change. The Quadrilateral Security Dialogue nations are planning to counter China by cooperating and pool their resources to fund new production technologies and development projects. The world leaders talked about the cooperation in the Indo-Pacific region and its development. President Biden also said that they are launching a new pact for the manufacturing of COVID-19 vaccines.

About the QUAD: QUAD is also known as the Asian NATO. It is an informal strategic forum comprising India, the United States, Japan, and Australia. The forum is maintained by semi-regular summits, military drills and information between member countries. The idea of QUAD was first brought up by the then Japanese Prime Minister Shinzo Abe back in 2007. Since then the representatives from the member countries have met regularly and worked together. However, this was the first-ever meeting between the national heads of the QUAD countries.

 2. Switzerland tops UN’s global e-commerce index 2020, Indian ranked 71: Switzerland replaced the Netherlands at the top of UNCTAD’s Business-to-Consumer E-commerce Index 2020, which ranks 152 countries on their readiness to engage in online commerce. Top 5 countries are Switzerland, Netherlands, Denmark, Singapore, United Kingdom. The two largest B2C e-commerce markets in the world, China and the United States, rank 55th and 12th respectively in the index. India remains, by far, the most prepared country for e-commerce in South Asia. It moved up four notches from its previous year’s position to rank 71st. Sri Lanka ranked 91, Nepal at 113rd position and Bhutan at 114th position. Afghanistan and Pakistan – the least and the second-least prepared country for e-commerce respectively.

 3. World Consumer Rights Day: 15th March: It is celebrated on 15 March across the world annually to spread awareness about the rights of consumers and their needs. A special message was sent by President John F Kennedy to the US Congress on 15 March, 1962 and so the day was inspired by him. In the message he formally addressed the issue of consumer rights. To do so, he was the first leader. The history behind the World Consumer Rights Day is that the first consumer movement was observed in 1983 and since then every year it is observed to mobilize an action on important issues and campaigns. The theme of World Consumer Rights Day 2021 is ‘Tackling Plastic Pollution’. It will raise awareness and engage consumers globally to adopt and promote more sustainable practices. The last year theme was ‘The Sustainable Consumer’.

 OTHER UPDATES:

 SPORTS

 1. Mithali Raj becomes 1st Indian woman cricketer to score 10K Int’l runs: The veteran Indian women’s cricketer Mithali Raj has become the first Indian woman cricketer that has completed 10,000 international runs in all the cricket formats. She also becomes the second woman cricketer at the international level to complete 10000 runs. She achieved the milestone of 10,000 after she hit a boundary off the Anne Bosch in 28th over of Indian innings in the ongoing third ODI match against South Africa.

Achievements of Mithali Raj: Mithali, playing her 212th ODI for India, achieved the landmark during the third match of the bilateral series against South Africa. The cricketer is the recipient of several National and International awards. She won the Arjuna Award in the year 2003 and Padma Shri in the year 2015. She is the only female cricketer who has captained in more than one ICC ODI World Cup Final that is in the year 2005 and 2017. She also become the first woman to complete 20 years in International cricket in the year 2019.

 BANKING AND FINANCE

 1. AckoDrive partners with IDFC FIRST Bank to issue free FASTags: AckoDrive, a one-stop solution for first-hand car buying, has announced a partnership with IDFC FIRST Bank to issue free FASTags. With AckoDrive getting a FASTag is hassle free and convenient. Unlike FASTags issued by others, AckoDrive’s digital platform requires no issuance fee, no paperwork or security deposit. Any private car owner can purchase a FASTag from AckoDrive’s platform by submitting a few personal and vehicle details and by adding the initial wallet money of Rs. 100 to recharge the FASTag. These FASTags can also be used for contactless payments for fuel purchase at HPCL pumps. During the purchase, AckoDrive will automatically create a FASTag wallet for the car owner with IDFC FIRST bank. It can be easily recharged through the AckoDrive platform itself, along with other regular options.

 2. Ujjivan Small Finance Bank launches women savings account: Ujjivan Small Finance Bank has announced the launch of a “Women Savings Account” catering to the financial needs of women. ‘Garima Savings Account’, as the product has been named, will offer multiple customised benefits to women, including up to a maximum of 7% rate of interest on the savings account. Garima Savings Account offers a higher cash deposit and free unlimited withdrawal at any Ujjivan SFB branch with no additional charges for non-home branch transactions. Customers would also enjoy unlimited free NEFT and RTGS transactions through internet banking and mobile banking.

 BUSINESS AND ECONOMY

 1. Wipro to acquire UK-based IT consultancy Capco for $1.45 billion: Wipro Ltd. announced that it had agreed to acquire Capco, a London-based technology consultancy, for $1.45 billion. The deal, once completed, is expected to help the Indian IT services provider gain a firmer foothold and presence in the European market, especially in the financial services industry where the U.K. firm has an established clientele. The Capco purchase, which will be the Indian company’s biggest-ever acquisition, comes barely eight months after Wipro hired Mr. Delaporte from Capgemini to help the company recover its erstwhile position among India’s top three IT services providers.

 2. Reliance Power forms JV with Jera for 745 MW project in Bangladesh: Anil Ambani-led Reliance Power has formed a joint venture with Japan-headquartered Jera Co. Inc to develop a new gas-fired power generation project in Bangladesh. The company has achieved financial closure for the project with a group of lenders including Japan Bank for International Cooperation and Asian Development Bank and all requisite conditions for availing drawdown under the loan agreements have been achieve. The project is to build, own, and operate a 745-MW (net output: 718 MW) natural gas combined-cycle power project in Meghnaghat near Dhaka.

 OBITUARIES

1. Former Boxing Champion ‘Marvelous’ Marvin Hagler Passes Away: The former undisputed middleweight boxing legend “Marvelous” Marvin Hagler has passed away. Hagler, the American legend, ruled as the undisputed middleweight champion from 1980 to 1987. He was inducted into the International Boxing Hall of Fame and the World Boxing Hall of Fame in 1993.

Daily GK Update - 14th March, 2021

 NATIONAL UPDATES:

1. Govt to launch “Atmanirbhar Niveshak Mitra Portal”: The commerce and industry ministry has stated that the central government is working to develop a portal called “Atmanirbhar Niveshak Mitra Portal” for information dissemination, hand-holding, and facilitation of domestic investors. The portal Atmanirbhar Niveshak Mitra is currently is in the testing phase. It will be launched by May 1, 2021. The ministry is also working on a webpage which will be available in regional languages and mobile app. About the portal:

(1) This portal is being developed in order to strengthen efforts to promote domestic investments. It is being developed by the Department for Promotion of Industry and Internal Trade (DPIIT).

(2) The portal will help in providing daily updates on several things including the policies and new initiatives by the central and state governments, information regarding the approvals, licenses, clearances several schemes & incentives. It will also be providing information regarding the manufacturing clusters and land availability.

(3) The portal will provide its support to the investors throughout their business journey and will help them in getting all the information ranging from finding the investment opportunity, exploring incentives & taxes which are applicable to their businesses, raw material availability, sources of funding, training, tender information and management requirement.

Note: Minister of Commerce and Industry: Piyush Goyal.

 2. PM Narendra Modi Launches Kindle Version of Bhagavad Gita: Prime Minister Narendra Modi has launched the Kindle version of Swami Chidbhavananda’s ‘Bhagavad Gita’ via video conferencing. The event has been organised to commemorate the sale of over 5 lakh copies of the Swami Chidbhavanandaji’s Bhagavad Gita. Swami Chidbhavanandaji is the founder of Sri Ramakrishna Tapovanam Ashram at Thirupparaithurai, Tiruchirapalli, Tamil Nadu. Chidbhavananda Ji was devoted to India’s regeneration. He noted that Swami Vivekananda’s Madras lectures inspired Swami Chidbhavananda Ji to put the nation above everything else and serve the people.

 3. Himachal CM inaugurates Swarnim International Shivratri Fair: The famous Swarnim International Shivratri Fair has begun with Chief Minister Jai Ram Thakur formally launching it at the historic Paddal ground, Himachal Pradesh. Thousands of people dressed in their traditional attire participated in the procession carrying their local deities dancing all the way up to Paddal ground. Over 150 deities participated in the ‘Jaleb’, the traditional Shobha Yatra from almost all parts of the district. Earlier, the Chief Minister participated in the Pagri Ceremony and performed Puja at Shri Raj Madhav Rai Temple. Chief Minister felicitated the people of the State on the auspicious occasion of International Shivratri festival, which was being celebrated this year as Swarnim International Shivratri Fair to mark glorious fifty years of Statehood.

Note: Chief Minister of HP: Jairam Thakur; Governor of HP: Bandaru Dattatraya.

 4. Govt launches Mera Ration Mobile App: In order to facilitate the ‘One Nation-One Ration Card’ system in the country, the government has launched ‘Mera Ration’ mobile app to benefit citizens in identifying the nearest fair price shop. This app will benefit especially those ration card holders who move to new areas for livelihoods. The app is developed by the government in association with NIC “to facilitate various “One Nation-One Ration Card” related services among the National Food Security Act (NFSA) beneficiaries, particularly migrant beneficiaries, fair price shop dealers and other relevant stakeholders.

About Mera Ration Mobile App: With the help of the app, the beneficiaries can easily check details of food grain entitlement, recent transactions and the Status of their Aadhaar seeding. The migrant beneficiaries can also register their migration details with the help of the application. Beneficiaries can also enter their suggestions or feedback. Implementation of the One Nation-One Ration Card system ensures availability of ration to beneficiaries under the National Food Security Act (NFSA) and other welfare schemes, especially the migrant workers and their families, at any fair price shop (FPS) across the country.

 5. All Helpline numbers of Railways merged into single number 139 for queries, complaints and assistance: Indian Railway has integrated all railway helplines into single number 139 which is Rail Madad Helpline for quick grievance redressal and enquiry during the journey. As the new helpline number 139 will take over all the existing helpline numbers, it will be easy for the passengers to remember this number and connect with Railways for all their needs during the travel. The Helpline 139 will be available in twelve languages and passengers can opt for Interactive Voice Response System- IVRS or directly connect to call-centre executives by pressing the asterisk button.

 6. Odisha CM Naveen Patnaik inaugurates India’s first World Skill Centre at Bhubaneswar: Odisha CM Naveen Patnaik inaugurated India’s first World Skill Centre at Mancheswar Industrial Area on the birth anniversary of legendary Biju Patnaik. The World Skill Centre, an 18 storey building is aimed to make Odisha the global capital of trained manpower and is dedicated to different skills and trades. With an aim to make Odisha the global capital of trained manpower, each floor of the 18 storey #WSC building will be dedicated to different skills and trades.

 INTERNATIONAL UPDATES:

 1. India Chaired the First Meeting of BRICS CGETI: Under the chairship of India, the First Meeting of the BRICS Contact Group on Economic and Trade Issues (CGETI) was held from 9th March 2021 to 11th March 2021. The 2021 theme of the BRICS is “BRICS@15: Intra BRICS Cooperation for Continuity, Consolidation, and Consensus”. India presented the calendar of events for BRICS CGETI 2021, this includes the priority areas for deliverables, schedule and scope of the MSME roundtable conference workshop on Services Statistics, and the BRICS Trade Fair. A series of presentations on the proposed deliverables during India’s chairship under the BRICS CGETI track was made in a separate session by the concerned departments of the government of India.

The proposed deliverables were:

(1) Action plan based on the document “Strategy for BRICS Economic Partnership 2025” adopted during the Russian Presidency in 2020

(2) BRICS Cooperation on Multilateral Trading system including cooperation for the TRIPS Waiver proposal at WTO;

(3) Framework for Consumer Protection in E-Commerce;

(4) Non-Tariff Measures (NTM) Resolution Mechanism;

(5) Sanitary and Phyto-Sanitary (SPS) Working Mechanism;

(6) Co-operation framework for the protection of Genetic Resources and Traditional Knowledge

(7) BRICS Framework on Co-operation in Professional Services.

Note: BRICS Establishment: 2009; BRICS Members: Brazil, Russia, India, China, and South Africa.

 2. International Day of Mathematics: 14th March: International Day of Mathematics (IDM) is annually observed across the globe on 14th March to celebrate the beauty and importance of mathematics and its essential role in everyone's life. The day also marks the birth anniversary of renowned mathematician and physicist Albert Einstein and death anniversary of theoretical physicist Stephen Hawking. The theme of the International Day of Mathematics 2021 is "Mathematics for a Better World". March 14 is chosen because Pi Day was observed on 14th March since the date written in MM/DD Format - 3/14 represents the value of Pi - 3.14.

Note: At the 205th session of its Executive Council, UNESCO proclaimed the 14th March (Pi Day) as the International Day of Mathematics. The proclamation was adopted at the 40th session of the General Assembly of UNESCO held on 25th November 2019. The first International Day of Mathematics was observed on 14th March 2020.

 OTHER UPDATES:

 SPORTS

 1. India moves to No. 2 in T20I rankings, Rahul third among batsmen: India climbed to the second spot in the latest ICC men’s T20 International team rankings ahead of a five-match series against top-placed England beginning on March 12. In the T20 batting chart, India batsman KL Rahul lost a place to be at the third spot, but skipper Virat Kohli retained his sixth position. Australia’s Ashton Agar and New Zealand’s Ish Sodhi made big gains, with the former moving to fourth and the latter to eighth after climbing four and three places, respectively. Left-arm Sri Lankan spinner Lakshan Sandakan, who took six wickets in the series against West Indies, broke into the top 10 at the 10th spot after gaining nine spots.

 2. NADA Imposes Sanctions on Weightlifter Madhavan R and Boxer Ruchika: The National Anti-Doping Agency’s (NADA) disciplinary panel imposed sanctions on weightlifter Madhavan R and boxer Ruchika for violation of its code. Weightlifter Madhavan R, who tested positive for prohibited substance Phentermine and Mephentermine, was handed a four-year ban by the Anti Doping Disciplinary Panel.

 BANKING AND FINANCE

 1. PNB Housing Finance, Yes Bank enter into co‐lending partnership for retail loans: PNB Housing Finance and Yes Bank said they have entered into a strategic co-lending agreement to offer customised retail loans for homebuyers at competitive interest rates. Both organisations will jointly do due diligence and co-originate the loan at an agreed ratio. PNB Housing will service customers through the entire loan lifecycle including sourcing, documentation and collection with an information-sharing arrangement with Yes Bank.

 2. 9 banks, 2 non-banks to infuse 7,000 crores in bad banks: Nine banks including the State Bank of India (SBI) and two non-bank lenders are likely to put in Rs 7,000 crore jointly as initial capital in the proposed bad bank that aims to help extract funds stuck in non-performing loans. The entities include PSBs like State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Union Bank of India, Bank of India. Other than these, private sector lenders ICICI Bank, Axis Bank, IDBI bank are also a part of the combine. Meanwhile, the non-bank entities include state-owned financiers of power projects- Power Finance Corporation (PFC) and Rural Electrification Corporation (REC). It should be noted that each of the 11 entities will initially hold just above nine per cent of the share in the proposed bad bank, even as more shareholders could join in the combine at a later stage which could result in dilution of the stakes for the aforementioned investors.

 BUSINESS AND ECONOMY

 1. Exim Bank inks $10.40 million soft loan pact with Eswatini: Exim Bank, on behalf of the Indian government, has extended a Line of Credit (LoC) of USD 10.40 million (Rs 75.99 crore) to the government of the Kingdom of Eswatini (Swaziland) for the construction of disaster recovery site. With the signing of this agreement, Exim Bank, till date has extended three LoCs to Eswatini, taking the total value to USD 68.30 million. Exim Bank said the Indian government’s soft loan to Eswatini covers projects in sectors including information technology, disaster management and agriculture.

 2. Pallav Mohapatra appointed MD & CEO of ARCIL: Asset Reconstruction Company (India) Ltd (Arcil) has announced the appointment of Pallav Mohapatra as its Chief Executive Officer and Managing Director. Prior to the appointment, Mohapatra was the MD and CEO of the Central Bank of India. Before being elevated as MD and CEO of CBoI, he was Deputy Managing Director, Stressed Assets Management Group, State Bank of India. Vinayak Bahuguna headed Arcil as MD and CEO for five years till June 2020. Arcil, which was set up in 2002, currently has assets under management (in non-performing loans) of ₹12,000 crore.

 AWARDS AND HONOURS

 1. Ambassador of India to Thailand receives King Bhumibol World Soil Day – 2020 Award for ICAR: Ambassador of India to Thailand Suchitra Durai received the prestigious King Bhumibol World Soil Day – 2020 Award of Food and Agriculture Organization on the behalf of the Indian Council of Agricultural Research. Minister of Agriculture and Cooperatives of Thailand Dr. Chalermchai Srion conferred the award in a Ceremony held at Bangkok. The international recognition was announced by the Food and Agriculture Organization, Rome on the eve of World Soil Day – 2020 in view of the ICAR’s excellent contributions in Soil Health Awareness on the theme Stop soil erosion, save our future during the last year.

Daily GK Update - 13th March, 2021

NATIONAL UPDATES:

 1. Cabinet Approves Amendments in Insurance Act 1938: The Union Cabinet has given its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in life and general insurance stands at 49 per cent with ownership and management control with Indian. According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938. It was in 2015 when the government hiked the FDI cap in the insurance sector from 26 per cent to 49 per cent.

Under the new structure:

(1) The majority of directors on the board and key management persons would be resident Indians, with at least 50 per cent of directors being independent directors, and a specified percentage of profits being retained as a general reserve.

(2) An increase in FDI will help improve life insurance penetration in the country. Life insurance premium as a percentage of GDP is 3.6 per cent in the country, way below the global average of 7.13 per cent, and in the case of general insurance, it is even worse at 0.94 per cent of GDP, as against the world average of 2.88 per cent.

(3) The government has earlier allowed 100 per cent foreign direct investment in insurance intermediaries.

 2. GoI appoints Dr. GP Samanta as new Chief Statistician of India: The Central Government has appointed Dr G P Samanta as the new Chief Statistician of India (CSI) for a period of two years. He is India’s fourth CSI. He will replace Kshatrapati Shivaji who was holding an additional charge of the post since September 2020. Currently, Dr Samanta was serving as an adviser in the Reserve Bank of India’s (RBI) Department Of Statistics and Information Management. Dr Samanta will also serve as the Secretary of the Ministry of Statistics and Programme Implementation (MoSPI).

 3. Union Minister Anurag Thakur promoted as Captain in Territorial Army: Union Minister Anurag Thakur has become the first serving MP to be appointed as Captain in the Territorial Army. Thakur has been promoted to the rank of Captain at 124 Infantry Battalion Territorial Army (Sikh). The four-time BJP MP from Himachal Pradesh’s Hamirpur was commissioned into the Territorial Army as a Lieutenant by then Chief of Army Staff (COAS) General Dalbir S Suhag TA in July 2016.

 4. IBM signs MoU with U’khand Government to introduce STEM for Girls: IBM has announced a collaboration with Samagra Sikhsha Uttarakhand, the Government of Uttarakhand’s education mission, to introduce the ‘IBM STEM for Girls’ program in 130 secondary and higher secondary schools across five districts in the state. The collaboration is part of a three-year program between IBM and Uttarakhand State Government with the American India Foundation as the implementation partner to increase the participation of girls and women in STEM careers.

About the program:

(1) The program will advance the skills and careers of close to 25,600 students in the Science, Technology, Engineering, and Math (STEM) fields.

(2) The demand for a highly qualified workforce in India is quickly increasing with the acceleration of emerging technologies.

(3) The ‘IBM STEM for Girls’ program features a comprehensive approach that builds technical capabilities as well as life and self-actualization skills.

(4) ‘STEM for Girls’ is an IBM Corporate Social Responsibility initiative primarily aimed at improving education-to-work and career pathways for girls who are studying in Government schools.

(5) The program includes imparting training in digital literacy, coding and technology skills, 21st-century skills, and career development to enable girls’ empowerment and increase their interest in STEM education and careers.

Note: IBM CEO: Arvind Krishna; IBM Headquarters: Armonk, New York, United States.

Governor of Uttarakhand: Baby Rani Maurya; Uttarakhand CM: Tirath Singh Rawat.

 INTERNATIONAL UPDATES:

 1. World’s Most Powerful Supercomputer Fugaku is ready for use: The Japanese scientific research institute called RIKEN and Fujitsu started developing the “Fugaku” six years ago. It is the world’s most powerful supercomputers. Fugaku has been named after an alternative name for Mount Fuji. Now, this supercomputer is fully ready and developed in Japan and is now available for research use. This supercomputer has been developed with the aim of making the device core of the computing infrastructure of Japan.

Important points: Then the supercomputer was tested for the particular projects in order to combat the COVID-19 pandemic in April 2020. Now the Fugaku is fully open and available for shared use. The Research Organization for the Information Science and Technology (RIST) of Japan has selected some 74 projects which will use this supercomputer in the financial year 2021. RIST has also proposed for the development of the new projects in several categories and has invited the researchers who are interested to apply for the same.

About Fugaku:

(1) It is a key national technology that has been developed with the goal to achieve research results that ultimately will help in building a long-lived and healthy society, better energy use and disaster mitigation.

(2) It also aims to establish the government’s vision of making “ultra-smart Society 5.0”.

The supercomputer has topped the top500 list, which is a “Supercomputer benchmark index”, for the second year in line.

(3) The computer comprises 100 times the application performance of the K supercomputer.

(4) It has been developed to implement high-resolution, large-scale and long-duration simulation.

(5) It started development in the year 2014 as the successor to the K computer. It is built with the Fujitsu A64FX microprocessor.

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

 2. Girish Murmu re-appointed Chairman of UN Panel of External Auditors: Comptroller and Auditor General of India (CAG), Girish Chandra Murmu has been re-appointed as the Chairman of the Panel of External Auditors of the United Nations for the year 2021. Prior to this, Mr Murmu was elected as Chairman of the Panel for 2020 as well.

About the Panel: At present, the panel consists of 13 countries which are India, Germany, Chile, China, United Kingdom, France, Philippines, Switzerland, Italy, Ghana, Indonesia, Canada and Russia. The Panel of External Auditors was established by the UN General Assembly in 1959, as a distinctive forum to support the delivery of high quality, standards-based assurance, to ensure that reported financial information provides a transparent and accurate basis for the financial decisions made by the United Nations and its Specialized Agencies.

Note: CAG Founded: 1858; CAG Headquarters location: New Delhi.

 OTHER UPDATES:

 BANKING AND FINANCE

 1. Axis Bank launches “Wear N Pay” contactless payment wearable devices: Axis Bank has launched a range of wearable contactless payment devices under the brand Wear ‘N’ Pay. These devices come in different forms of wearables like a band, key chain and watch loop and are available starting at Rs 750. The wearables are directly linked to the bank account of an Axis Bank customer and function like a regular debit card. It allows purchases at any merchant store which accepts contactless transactions. How do they work:

(1) Axis Bank’s new ‘Wear N Pay’ devices are available in a variety of accessories like the band, key chain, and watch loop. Users do not need to carry their smartphones and wallet for payments anymore. These wearable devices can be worn easily to carry out contactless transactions on the go.

(2) Customers can use these devices at any merchant that accepts contactless transactions. Users need to wave the device at a POS machine for transactions up to Rs 5,000. For transactions of more than Rs 5,000, a PIN is required.

(3) The program also provides a host of features for its customers, which include 10% cashback, offers across Dining partners as well as a fraud liability cover up to 100% of the purchase limit.

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. NSE becomes co-promoter in IGX, as it buys 26% stake in gas trading platform: The National Stock Exchange (NSE) has acquired a 26% equity stake in the Indian Gas Exchange (IGX), through its wholly owned subsidiary NSE Investments. With this, NSE has become a co-promoter and the second largest shareholder on the IGX gas-trading platform. The Indian Energy Exchange (IEX), which set up the IGX natural gas trading hub, has 54 percent share holding in IGX. Apart from these, ONGC, GAIL, Torrent Gas Private Limited, Adani Total Gas Limited holds 5% equity each in IGX. This makes NSE and IEX as the two promoters of IGX and the rest of them as equity shareholders in the platform.

 AWARDS AND HONOURS

 1. Amitabh Bachchan to be honoured with 2021 FIAF Award: Megastar Amitabh Bachchan will be honoured with an award by the International Federation of Film Archives (FIAF). The veteran actor will be the first Indian cinema personality to be bestowed with the FIAF Award for his dedication and contribution to the preservation of the world’s film heritage. Amitabh Bachchan was nominated for the award by the FIAF affiliate Film Heritage Foundation which is a not-for-profit organisation founded by Shivendra Singh Dungarpur a filmmaker & archivist. This foundation is dedicated to preserve, restore, document, exhibit and study the film heritage of India. The FIAF is a worldwide organisation, comprising film archives and museums from across the world. Hollywood filmmakers and previous recipients of the FIAF Award — Martin Scorcese and Christopher Nolan — will present the award to Bachchan during a virtual showcase scheduled to take place on March 19.

Note: FIAF Founded: 17 June 1938; Headquarters: Brussels, Belgium.

 OBITUARIES

 1. Ivory Coast Prime Minister Hamed Bakayoko passes away: The incumbent Prime Minister of Ivory Coast, Hamed Bakayoko, has passed away due to cancer. He was named prime minister in July 2020 following the sudden death of his predecessor, Amadou Gon Coulibaly. President of Ivory Coast, Alassane Ouattara, has named Patrick Achi as interim prime minister in place of Bakayoko. Patrick Achi was serving as the chief of defence staff of the country.

Note: Ivory Coast President: Alassane Ouattara; Ivory Coast Capital: Yamoussoukro; Ivory Coast Currency: West African CFA franc.

Daily GK Update - 12th March, 2021

 NATIONAL UPDATES:

 1. Union Cabinet approves Pradhan Mantri Swasthya Suraksha Nidhi: The Union Cabinet has approved the Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN), as a single non-lapsable reserve fund. This has been approved for the share of Health from proceeds of Health and Education Cess which is levied under the Section 136-b of Finance Act, 2007.

Pradhan Mantri Swasthya Suraksha Nidhi: This is a non-lapsable reserve fund for the Health in the Public Account. This fund will comprise of the proceeds from the share of health in the Health and Education Cess. This revenue in the fund will be used for the flagship schemes of the Health Ministry including the National Health Mission, Ayushman Bharat – Health and Wellness Centres, Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana and for the emergency & disaster preparedness and responses in cases of health emergencies.

 2. ISRO Develops Joint Earth Observation Satellite Mission Radar With NASA: ISRO has completed the development of a Synthetic Aperture Radar (SAR) capable of producing extremely high-resolution images for a joint earth observation satellite mission with the US space agency NASA. NASA-ISRO SAR (NISAR) is a joint collaboration for a dual-frequency L and S-band SAR for earth observation. About NISAR:

(1) NISAR will be the first satellite mission to use two different radar frequencies (L-band and S-band) to measure changes in our planet’s surface less than a centimetre across.

(2) The mission is targeted to launch in early 2022 from ISRO’s Sriharikota spaceport in Andhra Pradesh’s Nellore district, about 100 km north of Chennai.

(3) NASA is providing the mission’s L-band SAR, a high-rate communication subsystem for science data, GPS receivers, a solid-state recorder and payload data subsystem.

(4) ISRO is providing the spacecraft bus, the S-band radar, the launch vehicle and associated launch services for the mission, whose goal is to make global measurements of the causes and consequences of land surface changes using advanced radar imaging.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

Acting Administrator of NASA: Steve Jurczyk; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 3. President Ram Nath Kovind presents Baton of Honor to Kiran Bedi: President Ram Nath Kovind has presented a baton of honour and a letter of appreciation to former Puducherry lieutenant governor Kiran Bedi at Rashtrapati Bhavan. The former Puducherry lieutenant governor received a Baton of Honor decorated with the emblem of the Indian Republic and the appreciation letter recognizing her service in the Union Territory of Puducherry. Kiran Bedi was removed as the Lieutenant Governor of Puducherry on February 16 by the President of India and Tamilisai Soundararajan took additional charge as the Lieutenant Governor on February 18.

 4. Deepika Padukone joins WEF list of Young Global Leader: Actor Deepika Padukone has joined the list of the Young Global Leaders (YGLs) compiled by the World Economic Forum. The list also includes several Indian citizens and India-origin persons. They join a group of Nobel Prize recipients, Pulitzer winners, heads of state and chief executive officers committed to improving the state of the world. The Forum of Young Global Leaders was founded in 2005 by Klaus Schwab, founder and executive chairman of the WEF, to create a world where leaders take responsibility for a sustainable future while meeting increasingly complex and interrelated challenges.

Note: World Economic Forum Headquarters: Cologny, Switzerland; World Economic Forum Founder: Klaus Schwab; World Economic Forum Founded: January 1971.

 5. 2021 Dandi March to mark 75 years of Independence: Prime Minister Narendra Modi has flagged off the 91st anniversary of Dandi March on March 12 in Ahmedabad to celebrate the 75th anniversary of India’s Independence. The Salt March, which took place from March to April 1930, was an act of civil disobedience led by Mahatma Gandhi to protest the British rule in the country. The event is kicked off from Mahatma Gandhi’s Sabarmati Ashram and this event is also the part of the State government’s programme to mark “Azadi Ka Amrut Mahotsav.”

What was the original Dandi March: The Dandi March or Salt March as part of Mahatma Gandhi’s non-violent protest against the British monopoly on the production of salt. Led by Gandhi, 78 people started the 24-day march on March 12 and reached Dandi on April 5, 1930. After making salt at Dandi, Gandhi headed to Dharasana Salt Works, 40 km south, but was arrested on May 5.

INTERNATIONAL UPDATES:

 1. Niger’s President Mahamadou Issoufou wins Africa’s top prize: Mahamadou Issoufou, the incumbent President of Niger has won the “2020 Ibrahim Prize for Achievement in African Leadership”, the world’s largest leadership prize, worth $5 million. He is the sixth winner of the Ibrahim Prize since it was introduced in 2006, by Sudanese billionaire Mo Ibrahim’s foundation to promote good governance in the world’s poorest continent. The 69-year-old Issoufou is stepping down as president of Niger in April 2021, after serving two terms in office. He first took office in 2011 and was then re-elected in 2016.

Note: Niger Capital: Niamey; Niger Currency: West African CFA franc.

 2. China and Russia Inks MoU to jointly build Lunar Space Station: The space agencies of China and Russia have signed a Memorandum of Understanding (MoU) on behalf of their national governments, to jointly construct a lunar space station that will be open to all countries. The MoU was officially signed between the Chinese space agency, China National Space Administration (CNSA) and the Russian space agency Roscosmos, on March 09, 2021. Dubbed as the “International Scientific Lunar Station (ISLS)”, the centre will be a “complex of experimental and research facilities” created on the moon’s surface and/or in orbit of the moon. The goal of setting up ISLS is strengthening research cooperation and promoting the exploration and use of outer space for peaceful purposes in the interests of all mankind.

Note: China Capital: Beijing; China Currency: Renminbi; China President: Xi Jinping.

Russia President: Vladimir Putin; Russia Capital: Moscow; Russia Currency: Russian Ruble.

 3. World Kidney Day: 11th March: World Kidney Day is observed globally on the second Thursday of March every year. This year World Kidney Day is observed on 11th March 2021. The theme of the 2021 World Kidney day is “Living Well with Kidney Disease”. World Kidney Day is a global campaign aimed at raising awareness of the importance of our kidneys. World Kidney Day aims to raise awareness of the importance of our kidneys to our overall health and to reduce the frequency and impact of kidney disease and its associated health problems worldwide.

OTHER UPDATES:

 BANKING AND FINANCE

 1. MeitY released the list of “Digital Payment Scorecard”: The Ministry of Electronics & Information Technology (MeitY) has released the list of “Digital Payment Scorecard”. In the list, the State Bank of India (SBI) has topped for the third consecutive months. The digital payment scorecard tracks the performance of the Commercial Banks on several digital parameters. SBI maintained the top remitter bank by recording the highest UPI transaction volume which accounted for nearly Rupees 640 million.

SBI has also emerged as the largest issuer of debit cards. It issued over 290 million debit cards with a 30% market share with respect to card spends and 29% share with respect to transaction volume. Bank has also made steady progress with respect to increasing payment acceptance infrastructure.

Note: SBI Chairperson: Dinesh Kumar Khara; SBI Headquarters: Mumbai; SBI Founded: 1 July 1955.

 2. RBI removes PCA restrictions on IDBI Bank: The Reserve Bank of India has removed IDBI Bank from its enhanced regulatory supervision or Prompt Corrective Action (PCA) framework. It was noted that as per published results for the quarter ending December 31, 2020, the bank is not in breach of the PCA parameters on regulatory capital, net NPA and leverage ratio. The bank has also provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments.

Returns to profit in Dec quarter: The central bank had placed IDBI Bank under the PCA framework in May 2017 after it had breached the thresholds for capital adequacy, asset quality, return on assets and the leverage ratio. The bank had reported a standalone net profit of Rs 378 crore for the December quarter of 2020-21 compared to a standalone net loss of Rs 5,763 crore in the year-ago quarter.

Note: IDBI Bank CEO: Rakesh Sharma; IDBI Bank Headquarters: Mumbai, Maharashtra.

 AWARDS AND HONOURS

 1. 40 Scholars from Six Countries Awarded India Science Research Fellowship (ISRF) 2021: Forty scholars from six countries have been awarded with Indian Science Research Fellowship (ISRF) 2021. The winning scholars will now have the opportunity to carry out their research in Indian institutes and universities using the state of the art facilities in these places. These scholars have been selected on the basis of their research proposal, experience, academic merit and publication record.

Indian Science Research Fellowship: The Indian Science Research Fellowship is a platform to establish research cooperation and S&T partnerships with neighbouring countries of India. The initiative was launched by the Department of Science and Technology (DST) in 2015 for Afghanistan, Bangladesh, Bhutan, Maldives, Myanmar, Nepal, Sri Lanka, Thailand. Since its launch, 5 calls have been made between 2015-2019 and 128 fellows from these countries have been awarded fellowship under this programme. Due to the COVID-19 pandemic, no award was made in 2020.

 DEFENCE

 1. India-Uzbekistan joint military exercise DUSTLIK II commences in Ranikhet: The India – Uzbekistan joint military exercise DUSTLIK II has commenced in Foreign Training Node Chaubatia, Ranikhet in Uttarakhand. This is the Second Edition of the annual bilateral joint exercise of both armies. It will continue till the 19th of this month. The first edition of the exercise was held in Uzbekistan in November 2019. 45 Soldiers each from Uzbekistan and the Indian Army are participating in the exercise.

Both contingents will be sharing their expertise and skills in the field of counter-terrorist operations in mountainous or rural or urban scenarios under UN mandate. The validation exercise will be a testbed for the soldiers of both armies as they would be undergoing the challenges of actual operations in such scenarios. The joint exercise will definitely provide impetus to the ever-growing military and diplomatic ties between the two nations and also reflects the strong resolve of both nations to counter-terrorism.

Note: Capital of Uzbekistan: Tashkent; Currency: Uzbekistani Som; President of Uzbekistan: Shavkat Mirziyoyev.

 OBITUARIES

1. Veteran Marathi Actor Shrikant Moghe Passes Away: The Marathi stage and film actor, Shrikant Moghe has passed away. He was popular for his work in both Marathi and Hindi languages. He was born at Kirloskarwadi in the Sangli district of Maharashtra. He is known for his performances in Marathi films like Madhuchandra, Sinhaasan, Gammat Jammat and Umbaratha, and plays such as Varyavarchu Varaat and Tuze Aahe Tujapashi.