Daily GK Update - 18th March, 2021

 NATIONAL UPDATES:

 1. Govt announces new scheme for tourist vehicle operators: The Ministry of Road Transport and Highways has announced a new scheme for tourist vehicle operators, under which any tourist vehicle operator may apply for an “All India tourist authorization and permit” through online mode. The new set of rules will be known as “All India Tourist Vehicles Authorization and Permit Rules, 2021”. This will come into effect from April 01, 2021.

About the rules: The new rules for permits are aimed at promoting tourism across the states in our country, while simultaneously, helping to grow the revenue of state Governments. The permits will be issued, after relevant documents are submitted and fees deposited, within 30 days of submission of such applications. The authorization/permit will be granted, for a period of three months or its multiples thereof, not exceeding three years at a time.

Note: Minister of Road Transport and Highways: Nitin Gadkari.

 2. Prime Minister Narendra Modi’s Principal Advisor P K Sinha resigns: Former Cabinet Secretary and Principal Advisor in the Prime Minister’s Office (PMO) P.K. Sinha has relinquished his high-profile position on personal grounds. He was appointed in the PMO first as Officer on Special Duty (OSD) briefly and then as Principal Advisor, a specially created position for him, in September 2019 after the 2019 parliamentary polls. Besides him, two senior officials are serving as Advisors in the PMO: Bhaskar Khulbe and Amarjit Sinha, both 1983 batch retired IAS officials. Mr. Sinha is a retired 1977 batch IAS officer of Uttar Pradesh cadre and served in various capacities during the UPA and the NDA regimes. His is the second high profile exit from the PMO after PM’s Principal Secretary Nripendra Misra had resigned after the last Lok Sabha polls. Earlier, he was Secretary, Ministry of Power in the government of India and served as Cabinet Secretary for four years from 2015.

 3. Odisha Farmer’s Solar Car Gets Thumbs-Up Online: An Odisha farmer gained attention of people on social media by generating electric four-wheeler that runs on a solar powered battery. Sushil Aggarwal from Odisha’s Mayurbhanj district had built a four-wheeler powered by an 850 Watts motor and 100 Ah/54 Volts of battery. After fully charged the vehicle can travel up to 300 km. He told that he had built this car inside a workshop at his home during the COVID-19 lockdown. He told that the solar-powered battery took around 8 and a half hours to be fully charged. He further stated that “It is a slow charging battery. Such batteries have a long life, it will last 10 years.”

What are solar cars: They are powered by electricity through the use of solar energy. Sun’s energy is directly converted into electrical energy by the Photovoltaic (PV) cells.

Benefits are: (1) Fossil fuel will be used in less; (2) Solar energy is free; (3) It does not cause pollution; (4) It will never run out, etc.

Some limitations are: (1) You will get solar power during the day and less on cloudy days; (2) It has been seen that solar equipments are expensive; (3) To store solar energy, expensive batteries are needed for cars to be able to run in night, etc.

 4. Hurun India Wealth Report 2020 announced: The Hurun India Wealth Report, 2020 was released on March 16, 2020. The report identifies a novel household category in India called the ‘New Middle Class’ which accounts for an average savings of Rs 20-lakh per annum. The report highlights that these households have a major allocation towards physical assets like primary residential property and automobiles. As per the report, the total number of such cumulative households in India stands at 633,000.

About the report: The report further states that there are around 4,12,000 dollar-millionaire households or affluent households across India which are having a net worth of Rs 7 crore. As per the report, the Hurun Rich Listers comprise a wealth of Rs 1,000 crore. This category of the report comprises 3000 number of cumulative households in India. The ‘Indian middle class’ has earnings of over Rs 2.5-lakh per annum while they have a net worth of less than Rs 7 crore. The ‘Indian Middle Class’ category accounts for 56400,000 families in India.

 5. Ordnance Factories’ Day: 18th March: In India, the Ordnance Factories’ Day is observed on 18th of March every year. The day commemorates the foundation of the first Ordnance Factory in colonial India at Cossipore near Kolkata where production started on March 18, 1802. The Indian Ordnance Factories operate under the Ministry of Defence (MoD). The day is celebrated by displaying the rifles, guns, artillery, ammunition etc in exhibitions all over India. Currently, the Ordnance Factories organisation comprises 41 factories grouped into five operational divisions of the Ordnance Factory Board (OFB).

 INTERNATIONAL UPDATES:

 1. WHO declares El Salvador malaria-free: El Salvador is the first country in Central America to be certified malaria-free by the World Health Organization. WHO grants a certification of malaria elimination when a country proves “beyond a reasonable doubt” that there has been no indigenous transmission of the disease nationwide for the previous three consecutive years. El Salvador hasn’t had a malaria outbreak since 1996 and has reported no indigenous cases since 2017. In 1990, the country had 9,000 cases per year, a figure that declined to 26 by 2010. WHO credited El Salvador’s sustained domestic funding for malaria prevention, detection, and treatment for the success.

Note: El Salvador President: Nayib Bukele; El Salvador Capital: San Salvador; Currency: El Salvador colon.

 2. India-Finland Virtual Summit 2021: The India-Finland Virtual Summit was held on March 16, 2021, with the participation of Prime Minister Shri Narendra Modi and Prime Minister of the Republic of Finland Ms Sanna Marin. The virtual summit was organised to discuss the entire gamut of bilateral issues as well as other regional and multilateral issues of mutual interest.

About the Summit:

(1) The two leaders reviewed the ongoing bilateral engagements and committed to further expand and diversify the relationship across sectors such as trade and investment, innovation, education, emerging technologies including Artificial Intelligence, 5G/6G, and quantum computing.

(2) The two leaders also discussed the Covid-19 situation including their respective vaccination drives and emphasized the importance of global efforts for urgent and affordable access to vaccines across all nations.

(3) The leaders exchanged views on regional and global issues, including the India-EU partnership, cooperation in the Arctic region, WTO and UN reforms. Both sides noted the potential for India and Finland to cooperate in undertaking developmental activities in Africa.

Note: Finland: Capital: Helsinki; Currency: Euro.

 3. Global Recycling Day 2021: 18th March: Global Recycling Day is observed every year on March 18 to create awareness among the masses about the rapid pace at which our natural resources are being used. The day also promotes the concept and practice of recycling. Every year, events are organised by environmentalist and activists to promote the cause. In 2021, the theme of Global Recycling Day is “Recycling Heroes”. Its main aim is to recognise the people, places and activities that showcase the importance of recycling in preserving natural resources. Recycling has helped in reducing carbon emissions by over 700 million tonnes every year. Notably, over 1.6 million people are employed around the world in the recycling industry. In this decade, the yearly contribution of recycling will increase up to $400 billion.

 OTHER UPDATES:

 SPORTS

 1. Virat Kohli becomes first player to score 3000 runs in men’s T20I: Indian captain Virat Kohli has breached the 3000-run mark in Twenty20 Internationals with his last shot in the second T20I against England. Kohli’s knock of 73 runs, which came off 49 balls, also helped India to level the five-match T20I series. He also became the third captain in international cricket to score 12000 runs as a captain. He joined legendary captains Ricky Ponting and Graeme Smith in the elite list.

 2. UAE’s Mohammad Naveed, Shaiman Anwar banned for 8 years from all cricket: The International Cricket Council (ICC) has imposed eight years ban on former UAE players Mohammad Naveed and Shaiman Anwar Butt from all cricket, for trying to fix matches during the T20 World Cup qualifiers in 2019. The ICC Anti-Corruption Tribunal had found them guilty of breaching the Anti-Corruption Code in January 2021. The bans are backdated to 16 October 2019, when they were provisionally suspended for attempting to corrupt matches of the ICC Men’s T20 World Cup Qualifier 2019 in the UAE. Naveed was the captain and leading wicket-taker. Anwar was the opening bat. Both had long international careers and were well versed in the threat from match-fixers. Both have been charged with two breaches each, the first of which is Article 2.2.1, which stands for ‘contriving, or being party to an agreement or effort to fix or contrive or otherwise influence improperly, the result, progress, conduct or any other aspect of matches in the upcoming ICC World T20 Qualifiers 2019.’

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

 BANKING AND FINANCE

 1. RBI: Image-based Cheque Truncation System in all branches by Sep 30: The Reserve Bank of India has asked banks to implement the image-based Cheque Truncation System (CTS) in all branches by September 30 this year. The move is aimed at faster settlement of cheques resulting in better customer service. The Apex bank said that to leverage the availability of CTS and provide a uniform customer experience irrespective of the location of her/his bank branch, it has been decided to extend CTS across all bank branches in the country. To facilitate this, banks will have to ensure that all their branches participate in image-based CTS under respective grids by September 30.

About Image Cheque clearing system: There’s now a new way of clearing cheques more easily and quickly across the UK. The Image Clearing System allows banks and building societies to exchange images of cheques instead of moving paper around the country. This new approach means you can withdraw money much sooner.

What is Cheque Truncation System: A cheque truncation system is an arrangement that facilitates the electronic processing of a cheque with the use of Magnetic Ink Character Reader (MICR) data and the scanned image of the instrument without involving any physical exchange or movement of the financial instrument.

 BUSINESS AND ECONOMY

 1. Samsung sets up Innovation Lab at Delhi Technological University: Samsung India has announced that it has inaugurated a Samsung Innovation Lab at Delhi Technological University (DTU) to focus on collaborative research and training. It has set up the innovation lab under the Samsung Innovation Campus initiative as part of its new #PoweringDigitalIndia vision. With this addition, Samsung now has eight technical labs spread across the country as part of its Samsung Innovation Campus initiative, which was earlier called Samsung Digital Academy.

About the project:

(1) As part of the lab, engineers at Samsung R&D Institute, Noida (SRI-N) will work with students and faculty at DTU on collaborative research projects on smartphone domains.

(2) The students and faculty at DTU will work on domains such as Application Framework, Multimedia, Health and Security, at the lab.

(3) Projects will focus on technology areas such as Artificial Intelligence, Machine Learning and Computer Vision. So far, over 200 students have worked with SRI-N engineers on research projects and have received training.

(4) Collaborative research projects will be open to B.Tech, M.Tech and PhD students at DTU, who will receive certificates for their contribution at the end of each project. Samsung Innovation Campus is the company’s global citizenship program that aims to bridge proficiency gaps by skilling students on cutting-edge technology.

Note: Samsung Founder: Lee Byung-chul; Samsung Founded: 1 March 1938, Seoul, South Korea; Samsung Headquarters: Seoul, South Korea.

 AWARDS AND HONOURS

 1. Gowsalya Shankar honoured with International Woman of Courage 2021: The U.S. Consulate honoured Tamil Nadu-based anti-caste activist and human rights defender Gowsalya Shankar with a nomination for the International Woman of Courage (IWOC) Award. The IWOC Award Certificate of Nomination was handed over to her by U.S. Consul General in Chennai Judith Ravin at an event ‘Courageous Women Inspire a Better World’ held in the city. Ms Gowsalya was U.S. Mission India’s nominee for the 2021 U.S. Secretary of State’s IWOC Award, which honours women who have demonstrated exceptional courage, strength, and leadership in acting to improve the lives of others.  Ms Gowsalya launched the Shankar Social Justice Trust in March 2017 to fight atrocities against caste-based violence. The trust provides psychological, legal and moral support to victims and builds awareness against social discrimination and injustice.

 OBITUARIES

 1. Audio cassette tape inventor Lou Ottens passes away: The Dutch inventor of audio cassette tapes, Lou Ottens passed away. Dutch engineer credited with inventing the cassette tape and playing a major role in the development of the first CD. In 1963, Ottens presented the first cassette tape at the Berlin Radio Show electronics fair.  After the fair deal signed between Sony and Philips to patent his creation that gained worldwide popularity. Ottens also worked on the CD development project. The device that he made was equipped with a directional antenna which he termed as “Germanenfilter” because it was resistant to the jammers used by the Nazi regime. In 1960, Ottens with his team developed the first portable tape recorder and two years later, he invented CDs.

Daily GK Update - 17th March, 2021

 NATIONAL UPDATES:

 1. Supreme Court seeks govt.’s response on plea against Places of Worship Act: The Supreme Court has asked the government to respond to a plea challenging the Places of Worship Act enacted in 1991. A notice is issued by a Bench led by Chief Justice of India Sharad A. Bobde to the Union Ministries of Home, Law and Culture on a plea filed by advocate Ashwini Kumar Upadhyay against various provisions of the Places of Worship (Special Provisions) Act of 1991. The petition said Sections of the Act that dealt with the bar on legal claims were against the principles of secularism.

About the law: It was passed in 1991 by the P V Narasimha Rao-led Congress government. The law seeks to maintain the “religious character” of places of worship as it was in 1947 except law Ram Janmabhoomi-Babri Masjid dispute case that was already in court. The law was brought in at the peak of the Ram Mandir movement after one year before the demolition of the Babri Masjid. Home Minister S B Chavan in introducing the law said in the Parliament that it was adopted to curb the communal tension.

About the issue: As discussed above a petition has been filed in the court saying about the law as “arbitrary, irrational and retrospective”. The cut-off date that is 15 August, 1974 as per the law bars Hindus, Jains, Buddhists, and Sikhs from approaching courts to “re-claim” their places of worship which were “invaded” and “encroached” upon by “fundamentalist barbaric invaders”.

 2. World Bank economist Deepak Mishra appointed as director of ICRIER: Deepak Mishra, Practice Manager in the World Bank’s Macroeconomics, Trade, and Investment Global Practice, has been appointed as the next director and chief executive of the Indian Council for Research on International Economic Relations (ICRIER). He will take the charge of Rajat Kathuria who has been the director and chief executive of ICRIER since 1st September 2012. Mishra has held various positions at the World Bank, including co-director of the World Development Report 2016 (Digital Dividends), country economist for Ethiopia, Pakistan, Sudan, and Vietnam.

Note: ICRIER Established: August 1981; ICRIER Headquaters: New Delhi.

 3. ISRO launches sounding rocket RH-560 to study attitudinal variations: Indian Space Research Organisation (ISRO) has launched the sounding rocket (RH-560) to study attitudinal variations in the neutral winds and plasma dynamics, at Satish Dhawan Space Centre (SDSC), Sriharikota Range (SHAR). ISRO has developed a series of sounding rockets called Rohini series, important among them being RH-200, RH-300 and RH-560, number in the name indicating the diameter of the rocket in mm, according to the Bengaluru-headquartered space agency. Sounding rockets are one or two-stage solid propellant rockets used for probing the upper atmospheric regions and for space research. They also serve as easily affordable platforms to test or prove prototypes of new components or subsystems intended for use in launch vehicles and satellites.

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

 4. India’s first centralised AC railway terminal in Bengaluru to function soon: India’s first centralised air-conditioned (AC) railway terminal has been built at Baiyappanahalli in Bengaluru. Named after ‘Bharat Ratna Sir M Visvesvaraya’ one of the foremost civil engineers, the AC railway terminal is set to become operational soon. It has been built at an estimated cost of Rs 314 crore. The Byappanahalli terminal is the third coach terminal named after Bharat Ratna Sir M Visvesvaraya, sanctioned in 2015-16. The state-of-the-art terminal is equipped with all the modern facilities and is aimed to offer an airport-like aura to the passengers.

 INTERNATIONAL UPDATES:

 1. In world-first trial, Japan-Australia venture starts producing hydrogen from dirty coal: A  Japanese-Australian venture has begun producing hydrogen from brown coal in a A$500 million ($390 million) pilot project that aims to show liquefied hydrogen can be produced commercially and exported safely overseas. The plan is to create the first international supply chain for liquefied hydrogen and the next big step will be to ship a cargo on the world’s first liquefied hydrogen carrier. The project is producing hydrogen by reacting coal with oxygen and steam under high heat and pressure in a process that also yields carbon dioxide and other gases.

 2. PM Modi Addresses 4th Global Ayurveda Festival (GAF) Virtually: Prime Minister Narendra Modi addressed the fourth Global Ayurveda Festival (GAF) on through virtual mode. The Fourth Edition of GAF has been organized from 12 to 19 March 2021. Global Ayurveda Festival is the largest Ayurvedic event ever held anywhere across the world and witness the largest gathering of experts, stakeholders and business explorers from the field of Ayurveda. The Federation of Indian Chambers of Commerce and Industries (FICCI) is the festival and industry partner.

 OTHER UPDATES:

SPORTS

 1. Mumbai City FC beat ATK Mohun Bagan to win their maiden ISL title: Mumbai City FC has defeated ATK Mohun Bagan 2-1 in the ISL 2020-21 final to lift yet another trophy this year. Mumbai had earlier secured the ISL Shield along with a spot in the AFC Champions League group stage by finishing first in the standings in the regular season.

Related Awards:

Golden Ball Award (Best Player of ISL 2020-21): ATK Mohun Bagan forward Roy Krishna.

Emerging Indian Player of the Year: NorthEast United midfielder Lalengmawia.

Golden Boot Award (Top goal-scorer): FC Goa striker Igor Angulo for 14 goals.

Golden Glove Award (Best Goalkeeper): ATK Mohun Bagan custodian Arindam Bhattacharya for ten clean sheets.

 2. Bhavani Devi becomes first ever Indian fencer to qualify for Olympics: Bhavani Devi became the first-ever Indian fencer to qualify for the Olympics. The sabre fencer secured an Olympic spot due to events in the ongoing Fencing World Cup. Hosts Hungary lost in the quarterfinals of the team event, allowing Korea to progress to the semis. Therefore, Bhavani Devi qualifies through the Adjusted Official Ranking (AOR) Method. Currently, she is ranked 45th in the world. In 2017 She won India’s 1st international gold medal in fencing.

 BANKING AND FINANCE

 1. India’s Forex Reserves Surpass Russia’s to become World’s 4th Biggest: India’s foreign-exchange reserves surpassed Russia’s to become the world’s fourth-largest reserve. The foreign currency holdings of India stood at $580.3 billion as of March 5, as per the data by the Reserve Bank of India (RBI). The reserve of Russia was $580.1 billion. Overall, China has the largest reserves, followed by Japan and Switzerland, as on the International Monetary Fund table. Reserves for both countries have mostly flattened out this year after months of rapid increase. India pulled ahead as Russian holdings declined at a faster rate in recent weeks. India’s reserves, enough to cover roughly 18 months of imports, have been bolstered by a rare current-account surplus, rising inflows into the local stock market and foreign direct investment.

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

 BUSINESS AND ECONOMY

 1. NPCI launches UPI-Help on BHIM app for Grievance Redressal: The National Payments Corporation of India (NPCI), the umbrella entity for digital payments in India, has launched a new application named “UPI-Help” on BHIM UPI, which will act as a grievance redressal mechanism for the users of the BHIM application. Initially, UPI-Help has been made live on the BHIM app for the customers of State Bank of India, AXIS Bank, HDFC Bank, and ICICI Bank. Users of other banks participating in UPI will also be added to UPI-Help soon.

The UPI-Help will enable the users to:

(1) Check the status of the pending transactions;

(2) raise complaints against transactions that have not been processed;

(3) raise complaints against money that has not reached the beneficiary;

(4) Raise complaints against merchant transactions

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

 AWARDS AND HONOURS

 1. Grammy Awards 2021 Announced: The 63rd edition of the annual Grammy Awards ceremony was held in Los Angeles on March 14, 2021. The 2021 Grammy awards recognized the best recordings, compositions, and artists of the eligibility year, between September 1, 2019, to August 31, 2020. The award is presented by The Recording Academy to recognize achievements in the American music industry. Beyonce received the most nominations with nine, as well as the most awards with four.

Here is the list of winners of Grammy Awards 2021:

Sr. No.	Category	Winner
1	Album Of The Year	“Folklore” by Taylor Swift
2	Record Of The Year	“Everything I Wanted” by Billie Eilish
3	Best New Artist	Megan Thee Stallion
4	Best Rap Album	“King’s Disease” by Nas
5	Best R&B Album Winner	“Bigger Love” by John Legend
6	Best Rap Song	“Savage” by Beyoncé, Shawn Carter, Brittany
7	Best Country Album	“Wildcard” — Miranda Lambert
8	Song Of The Year	“I Can’t Breathe” by Dernst Emile II, H.E.R. and Tiara Thomas
9	Best Rock Album	“The New Abnormal” by The Strokes
10	Best Rock Song	“Stay High” by Brittany Howard, songwriter (Brittany Howard)
11	Best Dance/Electronic Album	Bubba by Kaytranada
12	Producer of the Year, Classical	David Frost
13	Best Music Video	Brown Skin Girl by Beyoncé, Blue Ivy & WizKid
14	Best Country Song	Crowded Table by Brandi Carlile, Natalie Hemby & Lori McKenna
15	Best Folk Album	All the Good Times
16	Best Comedy Album	Black Mitzvah by Tiffany Haddish

 

History of Grammy Award: The Grammy Award is an award presented by the Recording Academy to recognize achievements in the music industry. The first Grammy Awards ceremony was held on May 4, 1959, to honour and respect the musical accomplishments of performers for the year 1958. The trophy represents a gilded gramophone.

 OBITUARIES

1. Noted Kathakali Dancer Chemancheri Kunhiraman Nair passes away: Veteran Kathakali artist Chemancheri Kunhiraman Nair has passed away in Kozhikode, Kerala. He was 105-year old. He was awarded Padma Shri in 2017 for his contributions to the dance form of Kathakali. Besides this, Chemencheri was also the recipient of several other awards like the Kerala Sangeeta Nataka Award in 1979, the Kerala Kalamandalam award in 2001, Kalaratnam award in 2009, Mayilpeeli award and Sangeet Natak Academi Tagore award.

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.