Daily GK Update- 12th July, 2021

 

NATIONAL UPDATES:

 

1. Govt creates ministry of cooperation to boost cooperative movement: The government has created a Ministry of Cooperation to boost the Indian cooperative movement and give a fillip to the indigenous enterprises. India’s first minister of cooperation will also be sworn in once the Union Cabinet reshuffle takes place and the new ministers take the oath of office at the Durbar Hall in President House. The new ministry of Cooperation will work to realise the vision of “Sahkar se Samriddhi” and will provide a separate administrative, legal and policy framework to boost the cooperative movement in the country.The development will aid the deeping of the cooperatives as true people-based movements with benefits going down to the grassroots. The ministry will be mandated to streamline the processes for the ease of doing business for cooperatives and ultimately aim to broaden and strengthen the multi-state cooperatives.

 

2. DPIIT sets up 9-member panel to curb Digital Monopolies: The Central Government has formed a nine-member panel for the development of an Open Network for Digital Commerce (ONDC), designed to curb digital monopolies. This ONDC project is initiated by the Department of Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry and will be implemented by the Quality Council of India (QCI). The nine-member committee of ONDC will advise the Government of India on measures needed to digitise the entire value chain, standardise operations, promote inclusion of suppliers, derive efficiencies in logistics and enhance value for consumers, among other things.

Members of the panel include:

NandanNilekani, non-executive Chairman Infosys;

RS Sharma, CEO of National Health Authority;

AdilZainulbhai, Chairman of QCI;

Anjali Bansal, Founder and Chairperson of Avaana Capital;

Arvind Gupta, Co-founder and head of Digital India Foundation;

DilipAsbe, MD & CEO of National Payments Corporation of India;

Suresh Sethi, MD and CEO of NSDL e-Governance Infrastructure Ltd;

Praveen Khandelwal, General Secretary of Confederation of All India Traders;

Kumar Rajagopalan, CEO of the Retailers Association of India.

 

3. Tourism Ministry signs MoU with Yatra to strengthen hospitality, tourism industry: The tourism ministry signed a Memorandum of Understanding (MoU) with Yatra to strengthen and enable the tourism and hospitality industry. The event was organised under an arrangement between the Ministry of Tourism and the Quality Council of India (QCI), where the MoU for the Tourism Ministry Yatra tie-up was signed.Under the MoU:

(1) While the MoU is meant to mainly strengthen tourism, it also takes into consideration and provides support for accommodation units.

(2) The MoU outlines that both parties signing the document would participate in encourage the accommodation units to self-certify themselves on the System for Assessment, Awareness & Training for the Hospitality Industry (SAATHI) on the Online Travel Agency Platform (OTA).

(3) Earlier this year, the Ministry of Tourism had also signed an MoU with ClearTrip and Ease My Trip. There has been an ongoing effort by the ministry to strengthen the tourism sector in India while extending support to accommodation units.

(4) The accommodation units registered on NIDHI and SAATHI on the OTA platform are to be provided extended visibility with the signing of this MoU. SAATHI is an initiative by the Ministry of Tourism in partnership with the Quality Council of India.

Note: Minister of State (IC) of Ministry of Tourism: Prahlad Singh Patel.

 

4. NABARD sanctions Rs 388 crore for drinking water, road projects in Odisha: NABARD has sanctioned an assistance of Rs 388 crore for Odisha under the Rural Infrastructure Development Fund (RIDF) for setting up four mega piped drinking water supply projects. The sanctioned amount would also be used for construction or up-gradation of 20 village roads across 15 districts in the state, an official statement said. The four mega projects will come up in Koraput district (covering Boipariguda block), Balasore district (covering Nilgiri block), and Malkangiri district (covering Malkangiri and Kalimela blocks).

 

5. Indian Army names firing range after VidyaBalan: The Indian Army has named one of its firing ranges in Kashmir after Bollywood actress VidyaBalan. The VidyaBalan firing range is situated at Gulmarg in the Baramulla district of Jammu & Kashmir. The decision was taken in recognition of her contribution to Indian cinema. Earlier in the year, the actress and her husband Siddharth Roy Kapoor had attended the Gulmarg Winter Festival organised by the Indian Army.

 

INTERNATIONALUPDATES:

 

1. World’s first 3D-printed school opens in Africa: Leveraging technology to tackle the shortage of schools in the continent, African affordable housing venture called 14Trees has erected the world’s first 3D-printed school in the country of Malawi. The design provides space that students in the region did not have privelege to with facilities for teaching and learning both inside and outside of the classroom. The school was built from scratch in the Salima district of Malawi. It took 18 hours to erect the walls. The 3D-printed school was then relocated to a village community in the Yambe zone.

 

2. China launches new Fengyun-3E meteorological satellite: China has launched the new Fengyun-3E (FY-3E) meteorological satellite from the SLS-2 launch site at China’s Jiuquan Satellite Launch Centre. The satellite is launched onboard the Long March-4C carrier rocket, which placed it into its planned orbit. Equipped with 11 remote sensing payloads, the FY-3E is part of the Fengyun-3 series of meteorological satellites. The FY-3E is the fifth in the series and the third operational satellite. The satellite is designed to serve for eight years. It will provide atmospheric temperature, humidity, and other meteorological related parameters, which will contribute to China’s weather forecast capacity.

 

3. World Malala Day: 12th July: The United Nations has declared 12th July as World Malala Day to honour the young activist, Malala Yousafzai. Malala Day is commemorated, the birthday of Malala Yousafzai to honour women and children’s rights around the world. On October 9, 2012, Malala was shot in the head by Taliban gunmen after she publicly advocated for the education of girls. Despite the attack, Malala soon returned to the public eye, fiercer in her views than earlier and continued her advocacy for gender rights. She founded the Malala Fund, a non-profit organisation to help young girls go to school and also co-authored a book titled “I Am Malala”, an international bestseller.

 

OTHER UPDATES:

 

SPORTS

 

1. Mumbai, Pune to host 2022 women’s Asian Cup: Women’s Asian Cup in India will be held in Mumbai and Pune after the Asian Football Confederation dropped Bhubaneswar and Ahemdabad as venues to minimise the travelling time for participants and ensure an “optimum environment” for a bio-secure bubble. The Mumbai Football Arena at the Andheri Sports Complex and the Shiv Chhatrapati Sports Complex in Balewadi, Pune have been chosen as the new venues. The decision was taken after considering the existing challenges caused by the COVID-19 pandemic and as part of efforts to minimise the travelling time for teams and officials between the venues, whilst ensuring the optimum environment to implement the biomedical bubble for the benefit of all stakeholders.

 

2. Nihal Sarin wins Silver Lake Open chess tournament: Nihal Sarin won the Silver Lake Open chess tournament in Serbia. The third-seeded Indian came on top of the field with eight points from nine rounds. In the final round, he defeated BrankoDamljanovic of the host. The second and third places were also taken by Indians, as RaunakSadhwani and Abhimanyu Puranik scored seven points each.

 

BANKING AND FINANCE

 

1. RBI issues instructions for appointment of MD/WTD in Urban Co-operative Banks: The Reserve Bank of India (RBI) issued a notification harmonising the rules for appointment of urban co-operative banks’ (UCB) chiefs and whole-time directors (WTDs) with those of private banks. 

(1) The tenure of the managing director (MD)/ WTD shall not be for a period more than five years at a time subject to a minimum period of three years at the time of first appointment, unless terminated or removed earlier, and shall be eligible for re-appointment. Also, the post of the MD or WTD cannot be held by the same incumbent for more than 15 years, the RBI said.

(2) Chiefs of public sector banks are typically appointed by the government for a term of three years or until the appointee reaches the age of 60, whichever occurs first. Private bank MD-CEOs are appointed by their respective boards, subject to approval by the RBI, and can hold the post till the age of 70.

(3) The person shall not be below the age of 35 years and above the age of 70 years at any time during his/ her term in office. However, within the overall limit of 70 years, as part of their internal policy, individual bank’s Boards are free to prescribe a lower retirement age.

 

BUSINESS AND ECONOMY

 

1. Paytm launches ‘Postpaid Mini’ to provide small-ticket instant loans: Paytm has announced the launch of Postpaid Mini, small-ticket loans that will give users the flexibility to access loans ranging from Rs 250 – Rs 1,000, in partnership with Aditya Birla Finance Ltd. The product is an extension of its Buy Now, Pay Later service, driving affordability amongst those new to credit. These small ticket instant loans will give flexibility to users and also help manage their household expenses to maintain liquidity during the ongoing Coronavirus (Covid-19) pandemic.

With this service: Paytm Postpaid is offering a period of up to 30 days for repayment of loans at 0 per cent interest. There are no annual fees or activation charges, only a minimal convenience fee. With the launch of Postpaid Mini, the company will offer access to loans ranging from Rs 250 to Rs 1000, in addition to PaytmPostpaid’s instant credit of up to Rs 60,000. This could help users pay for their monthly expenses, including mobile and direct to home (DTH) recharges, gas cylinder booking, electricity and water bills, shop on Paytm Mall and more.

Note: Paytm HQ: Noida, Uttar Pradesh; Paytm Founder & CEO: Vijay Shekhar Sharma; Paytm Founded: 2009.

 

2. Jim Whitehurst resigns as IBM president: Jim Whitehurst has announced he is stepping down as the president of IBM. Whitehurst’s resignation is being seen as one of the several management moves IBM announced. The 53-year-old’s exit led to shares of the technological giant falling 4.8 per cent to $139.83, the most in five months. Whitehurst was appointed as IBM’s president last year. This was the first time in decades that the corporation split up the designation of a chief executive officer (CEO) and president.

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

 

AWARDS AND HONOURS

 

1. Kaushik Basu awarded prestigious Humboldt Research Award: Indian economist Kaushik Basu has been awarded the Humboldt Research Award for Economics. The award was conferred on him by Professor Dr Hans-Bernd Schäfer of Bucerius Law School in Hamburg, Germany. A former chief economist of the World Bank, Basu is currently a professor of Economics at Cornell University. He also served as the Government of India’s chief economic advisor from 2009 to 2012. Basu is also a recipient of the Padma Bhushan, the third-highest civilian award in India.

What is Humboldt Research Award: The prestigious award is sponsored by the Alexander von Humboldt Foundation and awarded to as many as 100 recipients each year. The Humboldt Research Award honours scientists and economists from across the world for their work. The award entails prize money of 60,000 euros and an offer to carry out research projects at a scientific institution in Germany for up to 12 months.

 

DEFENCE

 

1. Indian Army Inaugurates War Memorial of CaptGurjinder Singh Suri: On the occasion of the birthday of Captain Gurjinder Singh Suri, who died during the operation “Birsa Munda” in 1999, the Indian Army inaugurated a war memorial in memory of Captain in Gulmarg near the Line of Control (LOC). Lieutenant Colonel (Col), Tej Prakash Singh Suri (Retd), father of Captain Gurjinder Singh Suri, MVC (Posthumous) was also present on the occasion. Gurjinder Singh Suri was later awarded MahaVir Chakra (Posthumous).

About the Operation Birsa Munda: Operation Birsa Munda was a punitive raid conducted against a Pakistani post by a Bihar battalion of the Indian Army, in the month of November 1999. This was the time when Operation Vijay had drawn to a close, but the Line of Control was still active with sporadic incidents of Trans Line of Control violence. In a swift and meticulously planned operation, the entire Pakistani post was destroyed, killing 17 Pakistani soldiers.

 

OBITUARIES

 

1. Olympic gold-winning hockey legend KeshavDatt passes away: Two-time Olympic gold medallist in hockey, KeshavDatt passed away. He was part of India’s historic feat at the 1948 Olympics where they beat home team Britain 4-0 at the Wembley Stadium in London to win the first gold post-Independence. Before the 1948 Olympics, Datt had toured East Africa under the leadership of hockey wizard Major Dhyan Chand in 1947. An integral part of the Indian team, Datt also captained the Mohun Bagan hockey squad from 1951-1953 and again in 1957-1958. 

Daily GK Update- 11th July, 2021

 

NATIONAL UPDATES:

 

1. Cabinet Reshuffle: 43 leaders take oath as ministers: The Union Cabinet led by Prime Minister Narendra Modi has expanded its council of ministers. The names in the cabinet reshuffle include several new entrants as well as existing ministers who will be reassigned. The swearing-in ceremony of 43 Ministers was held at the RashtrapatiBhavan. In total, 15 Ministers were inducted into the Union Cabinet and 28 Ministers were inducted as Ministers of State. This is the first cabinet reshuffle since the National Democratic Alliance (NDA) retained power in 2019. The Union Cabinet can have 81 members, as per the rule. There were 53 ministers in PM Modi’s cabinet but a series of them, including Union Health Minister Harsh Vardhan, resigned hours before the names were announced.

PM Modi will continue to head the following – Ministry of Personnel, Public Grievances and Pensions; Department of Atomic Energy; Department of Space; All important policy issues; and All other portfolios not allocated to any Minister.

 

 

2. Nitin Gadkari becomes “Brand Ambassador” of Khadi Prakritk Paint: The Union Minister for Road Transport and Highways & MSME, Nitin Gadkari, virtually inaugurated India’s first and only paint made from cow dung, under the brand name ‘Khadi Prakritk Paint’. In addition to this, the minister also declared himself as the “Brand Ambassador” of paint, to promote it across the country and encourage young entrepreneurs to take up the manufacturing of cow dung paint. The Khadi Prakritk Paint automated manufacturing plant has been set up on the campus of Kumarappa National Handmade Paper Institute (KNHPI), Jaipur, which is a unit of Khadi and Village Industries Commission (KVIC).

 

3. Neha Parikh appointed as CEO of crowd-sourced navigation app ‘Waze’: Indian-American, Neha Parikh, has been appointed as the CEO of Waze, a crowd-sourced GPS navigation app and a subsidiary of tech giant Google. The 41-year-old Neha replaces Noam Bardin, who stepped down as the CEO in November 2020, after leading the Israeli company for 12 years. The Waze app can give out directions in 56 different languages. The app was founded in Israel in 2008. It was acquired by Google in 2013 for around USD 1.1 billion (110 crores).

 

INTERNATIONALUPDATES:

 

1. Abiy Ahmed wins landslide victory in Ethiopian election: Ethiopia’s ruling Prosperity Party was declared the winner of last month’s national election in a landslide, assuring a second five-year term for Prime Minister Abiy Ahmed. The National Election Board of Ethiopia said the ruling party won 410 seats out of 436 contested in the federal parliament. Abiy Ahmed came to power in April 2018 after the former prime minister resigned.

Note: Ethiopia Capital: Addis Ababa; Ethiopia Currency: Ethiopian birr.

 

2. World Population Day: 11th July: World Population Day is observed globally on 11th July every year. This day is observed to raise awareness among people about the impact of a growing population and issues including gender equality, the importance of family planning, poverty, maternal health, human rights, etc. This year theme of World Population Day 2021: “the impact of the Covid-19 pandemic on fertility”.

History of World Population Day: In 1989, World Population Day was established by the Governing Council of the United National Development Programme as an outgrowth of the interest generated by the Day of Five Billion, which was observed on 11 July 1987. The United Nations General Assembly by resolution 45/216 of December 1990, decided to continue observing World Population Day raises awareness of population issues like their relations to the environment and development. On 11 July 1990, the day was first marked in more than 90 countries.

Note: United Nations Population Fund Headquarters: New York, United States; United Nations Population Fund Executive Director: Natalia Kanem; United Nations Population Fund Founded: 1969.

 

OTHER UPDATES:

 

SPORTS

 

1. Jaipur to get India’s second largest cricket stadium: The Board of Control for Cricket in India (BCCI) released a financial grant of Rs 100 crore to the Rajasthan Cricket Association (RCA), which will be used to build India’s second-largest cricket stadium. The facility, which will be second to the recently inaugurated Narendra Modi Stadium in Ahmedabad, is set to be built in Jaipur. The construction of the new stadium is likely to be completed within 24-30 months from commencement. Meanwhile, an amount of Rs 290 crores has been estimated to be spent on the construction of the second-largest cricket stadium in India. This amount will be sourced from; Rs 100 crore from the bank loan, Rs 100 crore from BCCI grant, Rs 90 crore from RCS funds, sale of boxes, seats & sponsorship. The proposed stadium will have a spectator capacity of 75,000.

 

BANKING AND FINANCE

 

1. LIC launches Saral Pension plan: The Life Insurance Corporation (LIC) has launched a new annuity plan. The new scheme is called — LIC Saral Pension plan. According to the corporation, it is a non-linked, non-participating, single premium, individual immediate annuity plan. Under this pension plan, the LIC is offering two annuity options of a lump sum amount — life annuity with a return of 100 per cent of the purchase price and joint life last survivor annuity with return of 100 per cent of the purchase price on death of the last survivor. The annuity plan is as per the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI is a regulatory body under the jurisdiction of the Ministry of Finance and is tasked with regulating and promoting the insurance and re-insurance industries in the country.

 

BUSINESS AND ECONOMY

 

1. GST collection dips below Rs 1 lakh crore in June: GST collection dipped below Rs 1 lakh crore in June after staying above that mark for eight consecutive months. Centre mopped up Rs 92,849 crore GST for the month of June of which CGST is Rs 16,424 crore, SGST is Rs 20,397 crore, IGST is Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and Cess is Rs 6,949 crore (including Rs 809 crore collected on import of goods. With eased relaxations following improvement in the overall Covid-19 situation in the country, the government expects GST revenues to rise from July 2021 onwards.

List of GST Collection previous months:

May 2021: Rs 1,02,709 crore

April 2021: Rs 1.41 lakh crore(All time Highest)

March 2021: Rs. 1.24 lakh crore

Feb 2021: Rs 1,13,143 crore

January 2021: Rs 1,19,847 crore

 

2. Adani Green’s acquisition of entire stake in SB Energy approved by CCI: The Competition Commission of India (CCI) has approved the acquisition of SB Energy Holding Limited by Adani Green Energy Limited.Under Section 31(1) of the Competition Act, 2002, the CCI gave its nod to the acquisition of the entire stake in SB Energy. The transaction marks this largest acquisition in the renewable energy sector in India. It values SB Energy India at an enterprise valuation of around $3.5 billion. It is expected to help Adani Green achieve total renewable capacity of 24.3 GW.

 

AWARDS AND HONOURS

 

1. Korean Air wins Air Transport World’s Airline of the Year Award: Korean Air has been announced the winner of one of the most prestigious honours in the aviation industry: Air Transport World’s (ATW) 2021 Airline of the Year. This year’s award is even more meaningful to Korean Air, as the global industry has been suffering from the unprecedented crisis caused by COVID-19.

The company’s excellent leadership, its ability to remain operationally profitable through the industry’s worst-ever crisis, its strong commitment to health safety customer service excellence, and its remarkable relationship with employees.” The judges also noted the airline’s “transformational strategic deal to incorporate Asiana and create a larger, more global flagship carrier. Korean Air plans to continue to strengthen its position in the global aviation industry and aims to become one of the world’s top 10 airlines after successfully acquiring and integrating Asiana Airlines.

 

OBITUARIES

 

1. Former Himachal Pradesh Chief Minister Virbhadra Singh passes away: Senior Congress leader and former Himachal Pradesh Chief Minister, Virbhadra Singh, has passed away. The veteran politician was the 4th and longest-serving Chief Minister of Himachal Pradesh. He served as the Chief Minister of the state six times, from April 8, 1983, to March 5, 1990, December 3, 1993, to March 23, 1998, March 6, 2003, to December 29, 2007, and then for the sixth time from December 25, 2012, to December 26, 2017. Apart from this, Singh also served as union deputy minister in Tourism and Civil Aviation, Minister of State for Industries, Union Minister of Steel and Union Minister of micro, small & medium enterprises (MSME).

 

Daily GK Update- 10th July, 2021

 

NATIONAL UPDATES:

 

1. GoI launches mobile app ‘MatsyaSetu’ for Indian aqua farmers: Union Minister for Fisheries, Animal Husbandry and Dairying, Giriraj Singh has launched the Online Course Mobile App “MatsyaSetu”. The app was developed by the ICAR-Central Institute of Freshwater Aquaculture (ICAR-CIFA), Bhubaneswar, with the funding support of the National Fisheries Development Board (NFDB), Hyderabad. The online course app aims to disseminate the latest freshwater aquaculture technologies to the aqua farmers of the country.

About the app:

(1) MatsyaSetu app has species-wise/ subject-wise self-learning online course modules, where renowned aquaculture experts explain the basic concepts and practical demonstrations on breeding, seed production and grow-out culture of commercially important fishes like carp, catfish, scampi, murrel, ornamental fish, pearl farming etc.

(2) Better Management Practices to be followed in maintaining the soil & water quality, feeding and health management in aquaculture operations were also provided in the course platform.

(3) The modules are divided into small video chapters for the convenience of the learners, along with additional learning materials. In order to motivate the learners and provide a lively learning experience, Quiz/Test options were also provided for self-assessment.

(4) Upon successful completion of each course module, an e-Certificate can be auto-generated. Farmers can also ask their doubts through the app and get specific advisories from experts.

 

2. Government Launches “AtmanirbharKrishi App” For Farmers: The government launched “AtmanirbharKrishi App” to provide farmers with actionable agricultural insights and early weather alerts. The wealth of information relevant to farmers curated by various government departments on a national digital platform ”KisanMitr” is now being made available through the ”AtmanirbharKrishi App” in a manner comprehensible to them. The App — in Android and Windows versions — is available in 12 languages for free of cost for farmers, start-ups, KrishiVighyanKendras, Self Help Groups, and NGOs.

 

3. DRDO gives licence to Laurus Labs to make & market 2-DG: Hyderabad-based pharma player Laurus Labs has received a licence from the Defence Research & Development Organisation (DRDO) for manufacturing and marketing Covid-19 drug 2-Deoxy-D-Glucose (2-DG) in India. The licence to Laurus Labs has been granted by DRDO as part of efforts to make the drug affordable and accessible to patients.

DRDO had recently invited expression of interest (EoI) from other pharma companies for manufacturing this drug and had said it would grant licences to 15 companies on a first-come, first-served basis. Meanwhile, the Council of Scientific & Industrial Research institution Indian Institute of Chemical Technology (CSIR-IICT) has been licencing the know-how for 2-DG synthesis to other companies, including Lee Pharma, Suven Pharma, Anthem Biosciences and Nosch Labs.

 

4. A book titled ‘The Fourth Lion: Essays for Gopalkrishna Gandhi’: A book titled ‘The Fourth Lion: Essays for Gopalkrishna Gandhi’ authored by VenuMadhavGovindu and SrinathRaghavan. The book consists of twenty-six essays contributed by individuals drawn from various walks of life and from across the globe. Gopalkrishna Gandhi has been an administrator, diplomat, author, and public intellectual of distinction for over four decades. His writings have spanned diverse genres, showcasing both his deep scholarship as well as a profound engagement with issues of politics, history, literature, and culture.

 

5. 52nd IFFI to be held in November 2021 in Goa: The 52nd edition of the International Film Festival of India (IFFI) will be held in Goa from 20th -28th November 2021. The regulations and poster for the 52nd IFFI were released by Hon’ble Minister of Information and Broadcasting Shri Prakash Javadekar. On the occasion of the birth centenary of the maestro of Indian cinema Shri Satyajit Ray, the “Satyajit Ray Lifetime Achievement Award for Excellence in Cinema” has been instituted from this year to be given at the IFFI every year starting from this year.

 

6. National Fish Farmers’ Day: 10th July: National Fish Farmers’ Day is celebrated every year on 10 July, by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying in association with the National Fisheries Development Board (NFDB). The event aims to draw attention to changing the way the country manages fisheries resources to ensure sustainable stocks and healthy ecosystems. This day is made to honour the fish farmers, aquapreneurs, fisherfolks, stakeholders and whoever else is associated in the fishery for their contribution in the fishery. The day is commemorated annually in remembrance of scientists Dr K H Alikunhi and Dr H.L. Chaudhury who had invented induced breeding technology of Indian major carps on 10 July 1957. 2021 will mark 21st National Fish Farmers’ Day.

 

INTERNATIONALUPDATES:

 

1. Haiti President JovenelMoise assassinated at his home: Haiti President, JovenelMoise was assassinated and his wife wounded in an attack at their home, the interim prime minister announced an act that risks further destabilizing the Caribbean nation beset by gang violence and political volatility. The president faced steep opposition from swathes of the population that deemed his mandate illegitimate, and he churned through a series of seven prime ministers in four years. Most recently, Joseph was supposed to be replaced this week after only three months in the post. Moise, a former entrepreneur who set up a string of businesses in the north of the country, where he hails from, burst onto the political stage in 2017 with a message of re-building the impoverished nation. He campaigned on populist pledges, as all candidates in Haiti do, but he kept up the rhetoric even after he was elected in February 2017.

Note: Haiti Capital: Port-au-Prince; Haiti Currency: Haitian gourde; Haiti Continent: North America.

 

2. World’s tallest sandcastle constructed in Denmark: A sandcastle in Denmark has entered into new Guinness World Record for being the tallest sandcastle in the world. The triangular-shaped sandcastle has been built in the town of Blokhus in Denmark. It stands at a height of 21.16 metres (69.4 feet). This new structure is 3.5m taller than the previous record held by sandcastle measuring 17.66 m in Germany in 2019. Dutch creator, Wilfred Stijger, was assisted by 30 of the world’s best sand sculptors. The structure is built in the shape of a triangle to avoid collapsing like many others have. A wooden structure was built around it to allow the artist to carve the incredible figures in the sand. This highly decorated monument in the small seaside village of Blokhus, which is reminiscent of a pyramid, is made up of 4,860 tonnes of sand. To ensure the sand sticks on, it was mixed with around 10% clay.

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

 

OTHER UPDATES:

 

SPORTS

 

1. WAKO India Kickboxing Federation gets Government recognition: The Ministry of Youth Affairs & Sports has decided to grant recognition to WAKO India Kickboxing Federation as National Sports Federation (NSF) for promotion and development of the Kickboxing sport in India. To be fully included and accepted in the Olympic movement is important for the recognition and development of the sport of kickboxing. It is expected that with government recognition of WAKO India Kickboxing Federation as NSF, the sport of kickboxing will develop at a faster pace in the country. WAKO have been a provisionally recognized member of the IOC Since 30 November 2018. The full recognition of WAKO will be finally decided by the IOC Session in Tokyo in July 2021.

Note: Ministry of Youth Affairs & Sports: KirenRijiju.

 

2. Indian men and women remain 4th and 10th in FIH rankings: The Indian men’s and women’s hockey teams remained unchanged at fourth and 10th spot respectively in the FIH rankings released. Australia moved to the top of the men’s world rankings with 2513.67 points after a string of victories over New Zealand, both in the FIH Hockey Pro League and an FIH sanctioned test series. There is no change at the top of the women’s world rankings, with the Netherlands extending their lead over second-ranked Argentina to almost 600 points.

 

BANKING AND FINANCE

 

1. Interest rates to remain unchanged on Small Savings Schemes, including NSC and PPF for second quarter of current Financial Year: The government has decided to keep the interest rates on Small Savings Schemes, including National Savings Certificate, NSC and Public Provident Fund, PPF unchanged for the second quarter of the Financial Year 2021-22. The second quarter starts on 1st July and ends on 30th September. This is the fifth quarter (ending September 30, 2021) in a row that the finance ministry has retained the interest rate on various small savings schemes.

According to the announcement: (For Q-2 of FY2021-22)

•            Return on five-year deposit: 6.7 per cent

•            Rate on 12 months’ deposit: 5.5 per cent

•            National Savings Certificate (NSC) rate: 6.8 per cent

•            Interest on senior citizens savings scheme: 7.4 per cent

•            Interest on savings deposit for senior citizens: 4 per cent

•            Interest on SukanyaSamriddhi account scheme: 7.6 per cent

•            Interest on Public Provident Fund (PPF) scheme savings: 7.1 per cent

 

2. RBI extends interest subsidy scheme for exporters till September: The Reserve Bank of India (RBI) has extended the validity of the interest equalisation scheme for pre-and-post-shipment rupee export credit by three months through 30 September 2021. This comes as relief for exporters struggling to cope with the damage caused by the second Covid wave. Exporters get the subsidy under the ‘Interest Equalisation Scheme for pre and post-shipment Rupee Export Credit’. Earlier in April, the scheme was extended till June 30. The extension takes effect from July 1, 2021, and ends on September 30, 2021, covering three months.

 

BUSINESS AND ECONOMY

 

1. Credit growth to industry remained in negative zone during 2020-21: RBI: Credit growth to the industrial sector remained in the negative territory during 2020-21, mainly due to the COVID-19 pandemic and resultant lockdowns, RBI data showed. However, “personal loans continued to grow at robust pace and recorded 13.5 per cent growth in March 2021; industrial loan growth, on the other hand, remained negative during all quarters of 2020-21. The data further revealed that private sector banks recorded higher loan growth when compared to public sector lenders. Their share in total credit increased to 36.5 per cent in March 2021 from 35.4 per cent a year ago and 24.8 per cent five years ago.

 

2. Reliance inks pact with ADNOC to build mega chemical project in UAE: Reliance Industries Ltd (RIL) signed a strategic partnership with Abu Dhabi National Oil Company (ADNOC) to build a chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi. Under the terms of the agreement, the companies will construct an integrated plant with a capacity to produce 940,000 tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360,000 tonnes of PVC annually. The project will be constructed in the TA’ZIZ Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ.

 

DEFENCE

 

1. Grene Robotics develops India’s first indigenous drone defence dome ‘Indrajaal’: Hyderabad-based company Grene Robotics has designed and developed India’s first autonomous drone defence dome called “Indrajaal”. Indrajaal is an autonomous defence weapon system, to identify and counter threats, using technologies such as Artificial Intelligence, cybersecurity and robotics. Indrajaal can protect large area of 1,000-2,000 sq km per system against threats such as Unmanned Aerial Vehicles (UAVs), incoming weapons (missiles), loitering munitions and Low-Radar Cross Section (low flying) targets autonomously. This ANTI-UAV systems will provide protection to defence bases as well as benefit linear infrastructures like international borders against advanced weaponry.

 

OBITUARIES

 

1. ‘Superman’ director Richard Donner passes away: Ace filmmaker Richard Donner, best known for helming the original ‘Superman’ film, ‘Lethal Weapon’ film series and ‘The Goonies’, has passed away. The 91-year-old filmmaker was at the forefront of some of the most popular genres in the history of mainstream cinema: the superhero movie, the horror flick, the buddy cop romps. The legend got his first big directing break with the 1976 cult classic horror film ‘The Omen’, which solidified his foothold in the industry and led to his next major studio film, ‘Superman’ (also the original) that paved the path for countless other flicks, including ‘Goonies’, and all of the ‘Lethal Weapon’ movie series, starring Mel Gibson and Danny Glover. 

Daily GK Update- 9th July, 2021

 

NATIONAL UPDATES:

 

1. Ministry of Education launches NIPUN Bharat Programme: Union Minister for Education, Ramesh Pokhriyal ‘Nishank’ has launched NIPUN Bharat programme. The aim of the NIPUN programme is that every child in India gets foundational literacy and numeracy (FLN) by the end of Grade 3, by 2026-27. NIPUN stands for National Initiative for Proficiency in Reading with Understanding and Numeracy.This Mission, which has been launched under the aegis of the centrally sponsored scheme of SamagraShiksha, will focus on providing access and retaining children in foundational years of schooling; teacher capacity building; development of high quality and diversified Student and Teacher Resources/Learning Materials; and tracking the progress of each child in achieving learning outcomes.

 

2. KVIC project ‘BOLD’ to boost tribal income: KVIC (Khadi and Village Industries Commission) has launched Project BOLD (Bamboo Oasis on Lands in Draught), a first-of-its-kind exercise, to create bamboo-based green patches in arid and semi-arid land zones. It is the first of its kind exercise in India which was launched from the tribal village NichlaMandwa in Udaipur, Rajasthan. Under the project, 5000 saplings of special bamboo species i.e. BambusaTulda and BambusaPolymorpha have been planted over 16 acres approx. of vacant arid Gram Panchayat land.

Why to choose bamboo: Bamboo grows very fast and can be harvested within 3 years.They are famous for conserving water and reducing water evaporation from the land, making it perfect to grow in arid regions.

Note: KVIC Founded: 1956;KVIC Headquarters: Mumbai;KVIC Chairperson: Vinai Kumar Saxena.

 

3. Union Cabinet approves stimulus package of Rs 6 lakh 28 thousand crore as part of AatmaNirbhar Bharat Package: The Union Cabinet gave approval to the stimulus package of 6 lakh 28 thousand crore rupees announced by the Union Finance Minister Nirmala Sitharaman as part of the AatmaNirbhar Bharat Package. The government has also given approval to the announcement made regarding extension of Pradhan MantriGaribKalyan Anna Yojana from May to November this year. The financial implication this year over the scheme will be over 93 thousand crore rupees.Union Cabinet, has also given its approval for availing the benefit under Aatmanirbhar Bharat Rojgar Yojana (ABRY) for another nine months from 30th June, 2021 to 31st March, 2022.

 

4. Environment and Forest Minister says India has taken target of creating additional 2.5 billion tonnes carbon sequestration by 2030: Environment and Forest Minister Prakash Javadekar said, India has taken a target of creating additional 2.5 billion tonnes carbon sequestration by 2030. He said in last seven years, the tree cover within and outside the forest has grown by 15,000 square kilometres.The Minister kicked off plantation drive by planting a Parijat tree at his residence. MrJavadekar appealed people to plant a tree and ensure its growth.

 

5. Govt Partners with Intel India to Launch First-Of-Its-Kind Initiative to Advance Deep-Tech Based Research in Country: In a big boost to the Indian research community, the government has partnered with Intel India to launch a ‘first-of-its-kind’ initiative to advance deep tech based research in the country.The opportunities will be offered by the first-of-its-kind research initiative called ‘Fund for Industrial Research Engagement (FIRE)’ launched by the Science and Engineering Research Board (SERB), a statutory body of Govt’s Department of Science and Technology (DST), in collaboration with Intel India.The FIRE initiative will increase research opportunities in the space of Artificial Intelligence (AI)/Machine Learning (ML), platform systems, circuits & architecture, Internet of Things (IoT), materials & devices, security, and so on from edge to cloud.The initiative will enable Indian researchers to pursue industry-relevant research opportunities in the areas of deep technologies that are novel, transformative, and can have a ground-breaking impact on a national scale.

 

INTERNATIONALUPDATES:

 

1. COVID tourism impact could top 4 trillion Dollar: UN report: The economic impact from the plunge in tourism since the pandemic emerged last year could top 4 trillion Dollar, a UN report said.The joint report by the UN’s World Tourism Organization (UNWTO) and Conference on Trade and Development (UNCTAD) found that the lack of widespread vaccination in developing countries was leading to mounting economic losses.Pandemic punched a $2.4 trillion hole in the tourism and related sectors last year, and the report warns a similar loss may occur this year depending on the distribution of Covid-19 vaccines.

 

2. World Bank approves USD 500 mn loan to support India’s informal working class amid pandemic: The World Bank announced the approval of a USD 500 million (about Rs 3,717.28 crore) financing package to assist India’s informal working class in overcoming the present epidemic distress.The loan will give states more flexibility to deal with the ongoing pandemic as well as potential climate and disaster shocks, according to a statement from the World Bank.The USD 500 million commitment will be funded in part by its concessionary lending arm, the International Development Association, and in part by a loan from the International Bank for Reconstruction and Development (IBRD).

 

3. India joins OECD, G20 Inclusive Framework tax deal: India has joined Organisation for Economic Co-operation and Development (OECD) and G20 Inclusive Framework tax deal.Majority of the members of OECD and G20 countries adopted a high-level statement containing an outline of a consensus solution to address the tax challenges arising from the digitalisation of the economy.The proposed solution consists of two components- reallocation of additional share of profit to the market jurisdictions and minimum tax subject to tax rules.

 

4. US Appoints Indian-American AtulKeshap as Interim Envoy to India: The US has appointed Indian-American career diplomat AtulKeshap, an old India-hand at the state department, as the country’s Charge’d Affairs in Delhi.He will replace Daniel Smith.Ambassador Keshap’s appointment will reinforce the close US partnership with the Government and people of India, demonstrated by our collaboration to overcome global challenges like the COVID-19 pandemic, the US State Department said.

 

OTHER UPDATES:

 

SPORTS

 

1. Mary Kom, Manpreet Singh to be India’s flag-bearers at Tokyo Olympics: MC Mary Kom, the six-time world boxing champion, and Manpreet Singh, the men’s hockey team skipper, will be India’s flag-bearers at the opening ceremony of the Tokyo Olympics, announced Indian Olympic Association (IOA). BajrangPunia, a silver medallist at the 2018 World Wrestling Championships, will be the flag-bearer at the closing ceremony on August 8.In a first, India is having two flag-bearers — one male and one female — at the upcoming Tokyo Games to ensure “gender parity”. The IOA has communicated the decision in this regard to the Organising Committee of the Games.

 

2. James Anderson claims 1000th first-class wicket: Veteran England fast bowler James Anderson has added another feather to his cap as he completed 1000 wickets in first-class cricket. Anderson achieved the rare feat during Lancashire’s County Championship clash against Kent in Manchester. Anderson is the leading wicket-taker among pacers in Test cricket. In 162 Tests, the England great has claimed 617 wickets at an average of 26.67 with 30 five-fors and three 10-wicket match hauls.Anderson is only the 14th player to claim 1,000 first-class wickets this century and only the fifth among pacers. Andy Caddick, Martin Bicknell, Devon Malcolm and WasimAkram were the other pace bowlers to cross the 1000-wicket landmark before Anderson.

 

BANKING AND FINANCE

 

1. RBI announces change in Government securities auction methodology: The Reserve Bank of India has announced a change in Government securities auction methodology for benchmark securities. They noted in the latest update that on a review of market conditions and market borrowing program of the government, it has been decided that benchmark securities of tenor 2-year, 3-year, 5-year, 10-year, 14-year tenor and Floating Rate Bonds (FRBs) will be, henceforth, issued using the uniform price auction method.For other benchmark securities i.e. 30-year and 40-year, the auction will continue to be multiple price-based auctions, as hitherto. The above arrangement will continue till further review, note the bank.

About the Uniform Price auction:In a Uniform Price auction, all the successful bidders are required to pay for the allotted quantity of securities at the same rate, i.e., at the auction cut-off rate, irrespective of the rate quoted by them.

About the Multiple Price auction:In a Multiple Price auction, the successful bidders are required to pay for the allotted quantity of securities at the respective price/yield at which they have bid.

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

 

BUSINESS AND ECONOMY

 

1. Flipkart partners with PhonePe to digitise cash-on-delivery payment: Digital payments platform PhonePe has partnered with Flipkart to launch a contactless ‘Scan and Pay’ feature for Flipkart’s pay-on-delivery orders. Using PhonePe’s QR code solution, the Flipkart customers who earlier opted for cash on delivery can pay digitally through any UPI app at the time of delivery.While on one hand, the new feature will help in reducing personal contact as well as ensure safety, on the other hand, it will drive contactless payments for customers who are traditionally more comfortable with cash on delivery.

Note: Flipkart headquarters: Bengaluru, Karnataka; Flipkart CEO: Kalyan Krishnamurthy; CEO of Phonepe: Sameer Nigam; Headquarters location of Phonepe: Bengaluru, Karnataka.

 

DEFENCE

 

1. Army inducts 10m bridging system developed by DRDO: The Army inducted the first production lot of 12 Short Span Bridging System (SSBS)-10m, designed and developed by the Defence Research and Development Organisation (DRDO) in association with Larsen & Toubro Limited, the production agency. The SSBS-10m plays a crucial role of bridging the gaps up to 9.5m as a single span providing a 4m wide, fully decked roadway, ensuring faster movement of the troops.

About the SSBS-10m:The project involved the development of two prototypes of 5m SSBS on Tatra 6×6 chassis and another two prototypes of 10m SSBS on Tatra 8×8 re-engineered chassis.This bridging system is compatible with the Sarvatra bridging system (75 m), where the last span required covering gaps less than 9.5 m.The DRDO has developed a range of bridges for the Army that have already been inducted.

Note: Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.