Daily GK Update- 5th Sep, 2021

 

NATIONAL UPDATES:

 

1. Women and Child Development Minister inaugurates NUTRI GARDEN: The Union Minister for Women and Child Development, Smriti Zubin Irani inaugurated NUTRI GARDEN to mark the beginning of Poshan Maah – 2021 at All India Institute of Ayurveda (AIIA). Plantation of Shigru (Sahijan) and Amla saplings were also carried out. AIIA, New Delhi under the direction of the Ministry of Ayush initiated the celebration of Poshan Maah – 2021.

About Nutri Gardens: Nutri kitchen garden/Nutri garden is a method of planting and harvesting nutrient-rich crops in residential houses or in their vicinity to meet the requirements of the family all year round. In urban areas, Nutri kitchen gardening can be promoted in the form of rooftop gardening, terrace gardening, vertical gardening and container gardening. In rural areas, Nutri kitchen gardens can be promoted in the backyard of the houses.

Benefits of Nutri Garden: It increases the availability of food and nutrient sources. It can act as a source of supplementary income. The crops harvested are Fresh and Safe (chemical-free).

 

2. I&B ministry to form a committee to review Journalist Welfare Scheme: The Ministry of Information and Broadcasting has decided to form a committee to review the existing guidelines of the Journalist Welfare Scheme (JWS). The 12-member committee, with Ashok Kumar Tandon, Member, Prasar Bharati Board, as its chairperson, will revise the quantum of ex-gratia payment in case of death as well as in other cases under the scheme. The terms of reference (ToR) of the committee include examining the need for such a revision of the quantum of ex-gratia payment.

About the committee: The committee will look into the aspect of differentiation or parity between accredited and non-accredited journalists for availing benefits under the scheme. The committee shall give its recommendations within two months and all secretarial assistance for convening its meetings will be provided by the Press Information Bureau (PIB).

Note: Minister of Information and Broadcasting: Anurag Singh Thakur.

 

3. PM Modi unevils special Rs 125 coin on ISKCON founder’s 125th birth anniversary: Prime Minister Narendra Modi virtually unveiled a special commemorative coin of Rs 125 to mark the 125th birth anniversary of ISKCON founder Srila Bhaktivedanta Swami Prabhupada. In July 1966, Prabhupada founded the International Society for Krishna Consciousness (ISKCON) commonly known as the ‘Hare Krishna movement’. The spiritual leader was born as Abhay Charan De on September 1, 1896, in Calcutta and later came to be known by the honorific A.C. Bhaktivedanta Swami Prabhupada.

Note: ISKCON Founded: 13 July 1966, New York, United States; ISKCON Headquarters: Mayapur, West Bengal.

 

4. Pankaj Kumar Singh takes over as new DG of BSF: Pankaj Kumar Singh, a 1988-batch IPS officer from the Rajasthan cadre, has taken charge as the new Director General (DG) of the Border Security Force (BSF). Prior to this, he was serving as the special DG at the BSF headquarters in Delhi. The 58-year-old Pankaj Singh replaces IPS officer and Indo-Tibetan Border Police Director General (DG) SS Deswal who was holding the additional charge of BSF DG since July 2021. Apart from this, Sanjay Arora, a 1988-batch IPS officers from Tamil Nadu cadre, has taken over as the new DG of the Indo-Tibetan Border Police (ITBP).

Note: BSF was formed on December 1, 1965; BSF Headquarters: New Delhi; ITBP Founded: 24 October 1962; ITBP Headquarters: New Delhi, India.

 

5. Centre appoints Atul Bhatt as CMD of RINL: Atul Bhatt has been appointed as chairman and managing director (CMD) of disinvestment-owned steel company Rashtriya Ispat Nigam Ltd (RINL). He was the CMD of state-owned consultancy firm MECON, which offers a full range of services required to set up a project from concept to commissioning including turnkey execution. PK Rath retired as CMD RINL on May 31, after serving the company for 38 years.

RINL is a special steel-making player based in Visakhapatnam, Andhra Pradesh. The company, without any captive iron ore mines, owns and operates a 7.3-million tonne (MT) steel plant in the state. The Cabinet Committee on Economic Affairs (CCEA) had given in-principle approval for 100 per cent disinvestment of government stake in RINL, along with the company’s stake in subsidiaries/ joint ventures through strategic disinvestment by way of privatisation.

Note: Rashtriya Ispat Nigam Ltd Founded: 18 February 1982; Rashtriya Ispat Nigam Ltd Headquarters: Visakhapatnam.

 

6. National Teachers’ Day: 5th September: The 5th of September is celebrated as teacher’s day all over India. This day is celebrated as the teacher’s day to mark the birthday of Dr Sarvepalli Radhakrishnan who was the former president of our country. He was a philosopher, a scholar, and the Bharat Ratna Awardee.  He was the second President of India (1962 to 1967) and the first Vice President of India (1952–1962). The Ministry of Education presents the National Teachers Awards on this occasion every year. In 2021, the President of India, Shri Ram Nath Kovind will confer National Awards on 44 teachers from across the country.

History of the day: In 1962, Dr. Radhakrishan became the second President of Independent India. The main significance to celebrate this day is that Dr Radhakrishan’s students approached him to allow them to celebrate his birthday as a special day. He was surprised and happy by the respect which is given to him by the students even after he was not their teacher.

 

INTERNATIONALUPDATES:

 

1. PM Modi Virtually Addresses 6th Eastern Economic Forum 2021: Prime Minister Narendra Modi virtually addressed the plenary session of the 6th Eastern Economic Forum (EEF), organised in Vladivostok, Russia. An Indian delegation led by Minister of Petroleum and Natural Gas, Hardeep Singh Puri and comprising leading Indian oil and gas companies are participating in the EEF Summit 2021 in Russia. On the sidelines of EEF, Petroleum Minister will also have meetings with Russian Energy Minister Nikolay Shulginov to review bilateral energy cooperation in the energy sector and with the Russian Minister for Development of Far East and Arctic Alexei Chekunkov to discuss the collaboration between Indian and Russian companies in that region. Petroleum Minister will also co-chair India-Russia Business Dialogue.

 

2. International Day of Charity: 5th September: The International Day of Charity is observed annually on September 05. It was declared by the United Nations General Assembly in 2012. September 5 was chosen in order to commemorate the death anniversary of Mother Teresa, who had always been engaged in charitable work. Mother Teresa received the Nobel Peace Prize in 1979 for “work undertaken in the struggle to overcome poverty and distress, which also constitute a threat to peace.”

Purpose of the day: The prime purpose of the International Day of Charity is to raise awareness and provide a common platform for charity related activities all over the world for individuals, charitable, philanthropic and volunteer organizations for their own purposes on the local, national, regional and international level.

 

OTHER UPDATES:

 

SPORTS

 

1. Paralympics 2020: Archer Harvinder Singh Clinches Bronze in Men’s Individual Recurve: In Paralympics 2020, India’s ace archer Harvinder Singh has won the bronze medal in the men’s individual recurve open. The 31-year old has become India’s first-ever archer to win a medal in the Paralympics. With this win, India’s medal haul at the ongoing Paralympics Games in Tokyo has reached 13 [2G,6S,5B]. Harvinder defeated South Korea’s Kim Min Su 6-5 in a shoot-off to win India’s third medal of the day at Tokyo 2020, taking India’s tally to 13. Earlier, United States of America’s (USA) Kevin Mather defeated Harvinder by 6-4 in the semi-final.

 

2. Tokyo Paralympics: Manish Narwal wins gold in 50m Mixed Pistol: Indian shooters Manish Narwal and Singhraj Adhana clinched the gold and silver medal respectively in the P4 – Mixed 50m Pistol SH1 final at Asaka Shooting Range. The 19-year-old Manish created the Paralympic record as he amassed 218.2 points to clinch the gold while Singhraj grabbed his second medal of the Tokyo Paralympics with 216.7 points. The Russian Paralympic Committee’s (RPC) Sergey Malyshev won the bronze medal. India’s medal tally now stands at 15 at these Paralympics. It has now won three golds, seven silvers and five bronze medals. This is India’s best tally at a single edition of the Para Games. It had won four medals at Rio 2016 and four at the 1984 Paralympics.

 

BANKING AND FINANCE

 

1. RBI imposes Rs 25 lakh fine on Axis Bank for flouting KYC norms: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 25 lakh on Axis Bank for violating certain provisions of know your customer (KYC) norms, on September 01, 2021. RBI had carried out scrutiny during February 2020 and March 2020 in a customer account maintained with the bank, where it was observed that the bank failed to comply with the KYC norms. As a result, the banking regulator issued the notice that Axis Bank did not comply with RBI – KYC Direction, 2016.

Note: Axis Bank CEO: Amitabh Chaudhry; Axis Bank Headquarters: Mumbai; Axis Bank Founded: 3 December 1993, Ahmedabad.

 

BUSINESS AND ECONOMY

 

1. Morgan Stanley retains India GDP growth estimate at 10.5% for FY22: America based Investment Bank, Morgan Stanley has maintained the GDP growth forecast of India at 10.5 per cent for the financial year 2021-22 (FY2022). GDP growth is expected to move into positive territory on a two-year CAGR basis from QE September. GDP grew 20.1 per cent year-on-year in the quarter ending June. On a two-year CAGR basis, real GDP contracted 4.7 per cent in QE June versus plus 2.3 per cent in QE March.

 

2. India’s economic growth soars to 20.1% in first quarter on low base: India’s economy grew by 20.1% during the April-June quarter of this financial year, as against a 24.4% contraction seen during the same period last year. The massive growth seen in the first quarter has made India the fastest-growing major economy across the globe. In the previous quarter, India’s economy had grown by 1.6%. For the full financial year 2020-21, India’s GDP contracted by 7.3%.

 

AWARDS AND HONOURS

 

1. Alejandro Prieto wins Bird Photographer of the Year 2021: Mexican photographer Alejandro Prieto has emerged as the winner of the Bird Photographer of the Year (BPOTY) 2021. He has won for capturing a photograph of a greater roadrunner staring up at the barbed-wire-clad border wall between the USA and Mexico, with what almost looks like a sense of bewilderment. The image has been given the title as ‘Blocked’. The Bird Photographer of the Year comes with a cash prize of £5,000. He was chosen from among 22,000 entries from 73 countries.

 

2. Powergrid Wins the Prestigious global ATD Best Award: Power Grid Corporation of India Limited (POWERGRID), a Maharatna CPSU under Ministry of Power, Government of India has been awarded the coveted “Association for Talent Development (ATD) 2021 BEST Award”. POWERGRID securing 8th rank among the 71 organizations from around the globe, thus becoming the only PSU to win this award and one of the only two companies of India in the Top 20. The Association for Talent Development (ATD, formerly ASTD) is the world’s largest association dedicated to those who develop talent in organizations and ATD’s BEST Award is the talent development industry’s most rigorous and coveted recognition.

Note: POWERGRID Founded: 23 October 1989; POWERGRID Headquarters: Gurgaon, India.

 

OBITUARIES

 

1. Senior Journalist and former Rajya Sabha MP Chandan Mitra passes away: Former Rajya Sabha MP and senior journalist Chandan Mitra has passed away. He was the Editor and Managing Director of The Pioneer newspaper in New Delhi. Mitra was nominated as a member of the Rajya Sabha from August 2003 to 2009. In June 2010, Mitra was elected to another term in the Rajya Sabha by BJP from Madhya Pradesh. His term ended in 2016. In July 2018, he resigned from the BJP and joined the Trinamool Congress (TMC). 

Daily GK Update- 4th Sep, 2021

 

NATIONAL UPDATES:

 

1. Ayush Minister Sarbananada Sonowal launches ‘Y-Break’ app: The Union AYUSH Minister, Sarbananda Sonowal has launched ‘Y Break’ Yoga protocol mobile application in New Delhi. The app has been developed by Morarji Desai National Institute of Yoga (MDNIY). The app was launched as a part of the week-long activities and campaigns organised by the Ministry of Ayush to commemorate Azadi ka Amrit Mahotsav from August 30 to September 5, 2021.

About the app: The Y-Break (or the “Yoga Break) mobile application is a unique five-minute Yoga protocol app, designed especially for working professionals to de-stress, refresh and re-focus at their workplace to increase their productivity, and consists of Asanas, Pranayam and Dhyana. While on one hand the app will facilitate doing yoga and meditation with ease anywhere in just 5 minutes, it will also bring awareness about different Yoga practices.

 

2. Assam cabinet decides to remove Rajiv Gandhi’s name from Orang national park: The Assam cabinet has decided to remove the name of former Prime Minister Rajiv Gandhi from the Orang National Park. Since the name Orang is associated with the sentiments of the Adivasi and tea-tribe community, the cabinet has decided to rename the Rajiv Gandhi Orang National Park as Orang National Park. Located on the North Bank of Brahmaputra, Orang National Park spread over 78.80 sq km is the oldest forest reserve in the state. It was named a wildlife sanctuary in 1985 and declared a national park in 1999.

Note: Assam Governor: Jagdish Mukhi; Assam Chief Minister: Himanta Biswa Sarma.

 

3. IIT Ropar develop’s world’s first ‘Plant based’ smart air-purifier: Indian Institutes of Technology (IIT), Ropar and Kanpur and Faculty of Management Studies of Delhi University have jointly launched a living-plant based air purifier named “Ubreathe Life”. This air purifier will boost the air purification process in indoor spaces, such as hospitals, schools, offices and Homes. It is the world’s first, state-of-the-art ‘Smart Bio-Filter’ that can make breathing fresh.

About the Ubreathe Life:

(1) The Ubreathe Life technology works through the air-purifying natural leafy plants. The room air interacts with leaves and goes to the soil-root zone where maximum pollutants are purified.

(2) It has been developed by the IIT Ropar incubated startup, Urban Air Laboratory. The specific plants tested for air-purification include Peace Lily, Snake Plant, Spider plant etc. and all have given good results in purifying indoor-air, the company has claimed.

(3) The purifier effectively improves indoor air quality by removing particulate, gaseous and biological contaminants while increasing the oxygen levels in the indoor space through specific plants, UV disinfection and a stack of Pre-filter, Charcoal filter and HEPA (high efficiency particulate air) filter fitted in a specially designed wooden box, the company has said about the air purifier’s functioning mechanism.

 

4. IRS officer JB Mohapatra appointed as CBDT chairman: IRS officer JB Mohapatra was appointed as the chairman of the Central Board of Direct Taxes. His appointment was approved today by the Appointments Committee of the Cabinet (ACC). He has already served as the acting chairman of the CBDT. A 1985-batch IRS officer, Mohapatra was given the additional charge as CBDT chairman after the tenure of incumbent PC Mody ended this year in May. Earlier, Mohapatra had served as the principal chief commissioner of Income Tax for the Andhra Pradesh and Telangana region.

Note: Central Board of Direct Taxes Established: 1924; Central Board of Direct Taxes Headquarters: New Delhi.

 

INTERNATIONALUPDATES:

 

1. New Development Bank approves UAE, Bangladesh and Uruguay as a new member: The Shanghai-based New Development Bank (NDB) has approved the United Arab Emirates, Uruguay and Bangladesh as its new member countries. In 2020, the NDB Board of Governors initiated the negotiation to expand its membership. As a result UAE, Uruguay and Bangladesh have been admitted as the first new member countries of the NDB. NDB was established by the BRICS (Brazil, Russia, India, China and South Africa) countries in 2015. The bank supports public or private projects through loans, guarantees, equity participation and other financial instruments.

Note: New Development Bank Headquarter: Shanghai, China; New Development Bank President: Marcos Prado Troyjo; New Development Bank Founder: BRICS; New Development Bank Founded: 15 July 2014.

 

OTHER UPDATES:

 

SPORTS

 

1. Tokyo Paralympics: Avani Lekhara becomes first Indian woman to win two medals: Avani Lekhara won the bronze medal in the women’s 50m rifle 3 positions SH1 event with a score of 445.9 to become the first Indian woman to win two medals at the Paralympics. Lekhara had also won gold in the 10m air rifle standing SH1 event. India’s medal tally now stands at 12 at these Paralympics. It has now won two golds, six silvers and four bronze medals. This is India’s best tally at a single edition of the Para Games. It had won four medals at Rio 2016 and four at the 1984 Paralympics.

 

2. Tokyo Paralympics: Praveen Kumar wins silver in men’s high jump: Praveen Kumar became India’s fourth medallist in men’s high jump and 11th medallist overall at the Tokyo Paralympics 2020 as he won silver with an Asian record jump of 2.07m. Praveen cleared the Asian record with a 2.07m jump, finishing behind Great Britain’s Jonathan Broom-Edwards, who managed the best jump of 2.10m on a rain-soaked track at the Olympic Stadium.

Praveen is India’s fourth medallist in men’s high jump at Tokyo Games after Nishad Kumar, Mariyappan Thangavelu, and Sharad Kumar.

 

BANKING AND FINANCE

 

1. RBI to setup committee on NUE licenses: The Reserve Bank of India (RBI) will set up a committee to scrutinize applications and give recommendations on New Umbrella Entity (NUE) licenses. The 5 member committee will be headed by Shri. P. Vasudevan. The committee will be responsible for looking into several aspects of NUE, from the macroeconomic impact of such a step to the security risks. The committee’s recommendations will be taken into consideration before doling out the licences. NUEs will establish their own payment infrastructure to compete with the National Payments Corp. of India (NPCI). The government hopes to build a settlement system similar to the unified payments interface (UPI) with the NUEs. The system will be focused on small and medium enterprises, merchants and consumers. The RBI had in August 2020 issued guidelines for creating “for-profit NUEs”.

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

 

BUSINESS AND ECONOMY

 

1. GST collections in August at over Rs 1.12 lakh crore: GST revenue remained above Rs 1 trillion marks for the second straight month in August at over Rs 1.12 trillion, 30 per cent higher than the collection in the year-ago period. The mop-up in August is, however, lower than Rs 1.16 trillion collected in July 2021. Which Central GST is Rs 20,522 crore, State GST is Rs 26,605 crore, Integrated GST is Rs 56,247 crore (including Rs 26,884 crore collected on import of goods) and Cess is Rs 8,646 crore (including Rs 646 crore collected on import of goods).

The revenues for the month of August 2021 are 30 per cent higher than the GST revenues in the same month last year. In August 2020, the Goods and Services Tax (GST) collection was Rs 86,449 crore. Compared to the August 2019 revenues of Rs 98,202 crore, this is a growth of 14 per cent. During August this year, the revenues from domestic transactions (including import of services) were 27 per cent higher than the revenues from these sources during the same month last year.

List of GST Collection previous months:

July 2021: Rs 1,16,393 crore

June 2021: Rs 92,849 crore

May 2021: Rs 1,02,709 crore

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

March 2021: Rs. 1.24lacs cr.

Feb 2021: Rs 1,13,143 crore

January 2021: ₹ 1,19,847 crore

 

AWARDS AND HONOURS

 

1. Ramon Magsaysay Award 2021 names announced: Ramon Magsaysay Award 2021 awardees have been announced, the winners will be formally awarded the Magsaysay Award during the November 28 event at the Ramon Magsaysay Centre in Manila. Among the awardees is Dr Firdousi Qadri of Bangladesh and Muhammad Amjad Saqib of Pakistan, as well as Philippine fisheries and community environmentalist Roberto Ballon, American citizen Steven Munsi, who works for humanitarian work and help refugees, and Indonesian WatchDoc for investigative journalism.

List of awardees of Ramon Magsaysay Awards 2021:

(1) Muhammad Amjad Saqib: A visionary who founded one of the largest microfinance institutions in Pakistan, servicing millions of families.

(2) Firdausi Qadri: A Bangladeshi scientist who has been instrumental in discovering vaccines that have saved millions of lives.

(3) Steven Muncy: A humanitarian who has been helping the displaced refugees of Southeast Asia rebuild their lives.

(4) WatchDoc: A production house that ingeniously combines documentary filmmaking and alternative platforms to highlight underreported issues in Indonesia.

(5) Roberto Ballon: A fisherman from Southern Philippines who has led a community in restoring their rich aquatic resources and their primary source of livelihood.

About the Ramon Magsaysay Award: The Ramon Magsaysay Award is Asia’s highest honor and is widely regarded as the region’s equivalent of the Nobel Prize. It celebrates the memory and leadership example of the third Philippine president after whom the award is named, and is given every year to individuals or organizations in Asia who manifest the same selfless service that ruled the life of the late and beloved Filipino leader.

 

DEFENCE

 

1. Indian Army contingent to participate in Exercise ZAPAD 2021: Indian Army will participate in Exercise ZAPAD 2021, a Multi Nation exercise being held at Nizhniy in Russia from 3-16 September. ZAPAD 2021 is one of the theatre level exercises of the Russian Armed Forces and will focus primarily on operations against terrorists. Over a dozen countries from the Eurasian and South Asian Regions will participate in this signature event.

About the exercise:

(1) The exercise aims to enhance military and strategic ties amongst the participating nations while they plan and execute this exercise.

(2) The Indian contingent has been put through a strenuous training schedule that encompasses all facets of conventional operations including mechanised, airborne and heliborne, counter-terrorism, combat conditioning and firing.

(3) In all, 17 countries are participating in ZAPAD including Mongolia, Armenia, Kazakhstan, Tajikistan, Kyrgyzstan, Serbia, Russia, India and Belarus.

(4) Pakistan, China, Vietnam, Malaysia, Bangladesh, Myanmar, Uzbekistan and Sri Lanka are observers at the exercises.

 

OBITUARIES

 

1. Veteran Hurriyat leader Syed Ali Geelani passes away: Veteran Kashmiri separatist leader and former chief of the All Parties Hurriyat Conference (APHC), Syed Ali Shah Geelani passed away. He was 91 years old. Syed Ali Gilani was born on September 29, 1929, to Syed Peer Shah Gilani of Zoori Munz village in Tehsil Bandipora. Gilani received his early education at Sopore and finished his studies at the Oriental College, Lahore Pakistan.

Daily GK Update- 3rd Sep, 2021

 

NATIONAL UPDATES:

 

1. FM Nirmala Sitharaman inaugurates ‘My Pad, My Right’ project in Tripura: In Tripura, Union Finance Minister Nirmala Sitharaman has inaugurated a project called ‘My Pad, My Right’ initiated by NABARD and NABFOUNDATION at Killa village in Gomati district on the second and concluding day of her visit to the state. The project aims to bring livelihood and menstrual hygiene closer to rural women by way of grant, wage support and capital equipment. The Union Minister also flagged off the mobile ATM van of Tripura State Co-Operative Bank Limited which will cover all Gram Panchayats and Village Committees of South Tripura District.

Note: Chief Minister of Tripura: Biplab Kumar Deb; Governor: Satyadeo Narain Arya.

 

2. Punjab to Launch ‘Mera Kaam Mera Maan’ Scheme to Help Unemployed Youth: The Punjab Cabinet gave a nod to a new scheme that will help the unemployed youth in the state to hone their skills and increase their chances of getting a job. These youngsters will be given short-term skill training free of cost under the ‘‘Mera Kaam Mera Maan” scheme of the state government. A target of 30,000 beneficiaries has been proposed, at a cost of ₹ 90 crores.

About the scheme: The scheme also provides an employment assistance allowance of ₹ 2,500 per month for a period of 12 months from the start of the training course, which will be conducted at Punjab Skill Development Mission training centres. The allowance shall be given during the training period, and after successfully completing the training, during the pre-placement and post-placement period of 12 months from the date of the start of the programme.

Note: Punjab CM: Captain Amarinder Singh; Punjab Governor: Banwarilal Purohit.

 

3. IIT Madras announces online platform ‘E-Source’: The Indian Institute of Technology (IIT) Madras is working on developing an innovative digital model to address the problem of e-waste (electronic wastes). The digital platform, named as ‘e-Source,’ will act as an exchange platform, to serve as an online marketplace for Waste Electrical and Electronic Equipment (WEEE).

About the ‘e-Source’ platform: The platform will link various stakeholders (buyers and sellers) of used and waste electronic equipment and components, both in the formal and informal economy. The initiative is being led by the Indo-German Centre for Sustainability (IGCS), a centre set up at IIT Madras in 2010 at the initiative of the German and Indian governments.

 

INTERNATIONALUPDATES:

 

1. Sri Lanka declares food emergency as forex crisis: Sri Lanka has declared a state of emergency as the food crisis worsened after private banks ran out of foreign exchange to finance imports. With the country suffering a hard-hitting economic crisis, President Gotabaya Rajapaksa said he ordered emergency regulations to counter the hoarding of sugar, rice and other essential foods. The Sri Lankan rupee has fallen by 7.5% against the US dollar this year.

Rajapaksa has named a top army officer as “Commissioner General of Essential Services to coordinate the supply of paddy, rice, sugar and other consumer goods”. The move followed sharp price rises for sugar, rice, onions and potatoes, while long queues have formed outside stores because of shortages of milk powder, kerosene oil and cooking gas.

The government has increased penalties for food hoarding, but the shortages come as the country of 21 million battles a fierce coronavirus wave that is claiming more than 200 lives a day. The economy shrank by a record 3.6 per cent in 2020 because of the pandemic and in March last year, the government banned imports of vehicles and other items, including edible oils and turmeric, an essential spice in local cooking, in a bid to save foreign exchange.

Note: Sri Lanka Capitals: Sri Jayawardenepura Kotte; Currency: Sri Lankan rupee; Sri Lanka Prime Minister: Mahinda Rajapaksa; Sri Lanka President: Gotabaya Rajapaksa.

 

2. Ladakh based Dorje Angchuk to be inducted as Honorary Member of the IAU: Dorje Angchuk, an Engineer in charge at the Indian Astronomical Observatory of the Indian Institute of Astrophysics (IIA) at Hanle in the Ladakh region, has been admitted as an Honorary Member of the International Astronomical Union (IAU). Angchuk is the first and only Indian to bag the position in the prestigious body. Angchuk has been selected for ‘his passionate promotion of astronomy in the Ladakh region, through his excellent astrophotography’. He will be joining ten other Honorary Members from around the world, selected by IAU to join a select list of 20 international experts.

About the honorary member of the IAU: The Honorary Members recognition by the IAU gives official recognition to individuals who have significantly contributed to the progress of astronomical research and culture in their country, but who do not qualify as Individual Members. This membership category was introduced in August 2018 and already has 9 members.

Note: The International Astronomical Union (IAU) headquarters: Paris, France.

The Indian Institute of Astrophysics (IIA) is an autonomous institute of the Department of Science & Technology (DST), Govt. of India, headquartered in Bengaluru.

 

OTHER UPDATES:

 

SPORTS

 

1. Paralympics 2020: Mariyappan Thangavelu wins Silver in men’s high jump: India’s Mariyappan Thangavelu has won the silver medal in the men’s high jump (T63) at the Tokyo Paralympics. He cleared the 1.86m mark to take home silver. In the same event, Sharad Kumar won the bronze medal, clearing 1.83m mark. Sam Grewe of the United States won the gold medal after he cleared the 1.88m mark. With the two new medals, India’s medal tally at the Tokyo Paralympics has now reached to 10.

 

2. Paralympics 2020: Singhraj Adhana wins bronze medal in 10m Air Pistol: At the ongoing Tokyo Paralympics 2020, Indian shooter Singhraj Adana has won the bronze medal in the P1 Men’s 10m Air Pistol SH1 final on August 31, 2021. Adana shot a total of 216.8 to finish at third place. China dominated the finals with defending champion Chao Yang (237.9 — Paralympic record) and Huang Xing (237.5) winning the gold and silver medals respectively.

 

3. Dale Steyn announces retirement from all forms of cricket: South African cricketer Dale Steyn has announced his retirement from all forms of cricket with immediate effect on August 31, 2021, ending his 20 years long cricket journey. The 38-year-old Proteas (South Africa national cricket team) pacer last played for South Africa in T20 vs Australia in February 2020. He had also played for Royal Challengers Bangalore (RCB) in the Indian Premier League (IPL). Since making his international debut in 2004, He played 93 Tests, 125 ODIs and 47 T20Is. The right-arm pacer, who holds the record for the fastest bowler to 400 Test wickets (80 matches), bagged 439 wickets in the longest format, 196 wickets in the ODIs and 64 wickets in T20 internationals.

 

BANKING AND FINANCE

 

1. Axis Bank ties up with BharatPe for PoS business: Axis Bank has partnered with BharatPe for the point of sale (PoS) business of BharatPe named BharatSwipe. Under the partnership, Axis Bank will be the acquiring bank for BharatSwipe and will provide acceptance of credit and debit cards for merchants associated with BharatPe. The partnership will help BharatPe to expand its merchant acquiring business in India. BharatPe’s PoS machine BharatSwipe has an installed base of 100,000 across 16 cities, processing around Rs 1,400 crore per month. BharatPe clocked an annualised transaction value of $2 billion on PoS terminals at the end of FY21. The company has set a target of $6 billion in transaction processed value (TPV) by FY22.

Note: Axis Bank CEO: Amitabh Chaudhry; Axis Bank Headquarters: Mumbai; Axis Bank Founded: 3 December 1993, Ahmedabad.

 

BUSINESS AND ECONOMY

 

1. Moody’s Retains India’s GDP growth forecast to 9.6% for CY2021: Moody’s Investors Service has retained India’s growth forecast for the calendar year (CY) 2021 at 9.6 per cent, in its August update to ‘Global Macro Outlook 2021-22’ report. The GDP growth forecast for calendar year 2022 is retained at 7 percent. In India, economic activity is picking up alongside a gradual easing of restrictions that were implemented in response to the second wave. And there is further upside to growth as economies around the world progressively reopen.

 

2. PayU acquires BillDesk for $4.7 bn: Netherlands-based Prosus NV has announced to acquire the Indian digital payments provider BillDesk and merge it with its own fintech service business PayU. The size of the deal is $4.7 billion. This acquisition will make the combined entity of PayU and BillDesk as the leading online payment providers globally and in India by total payment volume (TPV).

About the deal: The transaction is subject to approval from the Competition Commission of India (CCI). This acquisition will also raise Prosus’s investment into India to $10 billion, which has so far invested $6 billion in the Indian tech ecosystem. Prosus NV is the global consumer internet group and one of the largest technology investors in the world.

Note: PayU CEO: Laurent le Moal; PayU Founded: 2006;

BillDesk Founder(s): M.N. Srinivasu; Ajay Kaushal; Karthik Ganapathy; BillDesk Headquarters: Mumbai; BillDesk Founded: 29 March 2000.

 

AWARDS AND HONOURS

 

1. Neurosurgeon Basant Misra receives prestigious AANS Award: Odisha-born neurosurgeon Dr Basant Kumar Misra has been conferred the prestigious American Association of Neurological Surgeons’ ‘International Lifetime Achievement Award in Neurosurgery’. Misra is the first Indian physician to receive the AANS honor which was conferred on him at a virtual ceremony during the AANS Annual Scientific Meeting 2021 held in Orlando, Florida. He was the world’s first surgeon to perform Computer-Guided Aneurysm surgery.

 

OBITUARIES

 

1. Bigg Boss 13 winner Sidharth Shukla passes away: Bigg Boss 13 winner actor Sidharth Shukla has passed away. He has been a part of films like Humpty Sharma Ke Dulhania. The actor’s last screen outing was Ekta Kapoor’s popular show ‘Broken But Beautiful 3’ in which he played the role of Agastya. He is known for his roles in daily soaps such as “Balika Vadhu” and “Dil Se Dil Tak”. He is also popular for his tints in reality shows such as “Jhalak Dikhhla Jaa 6”, “Fear Factor: Khatron Ke Khiladi” and “Bigg Boss 13”. 

Daily GK Update- 2nd Sep, 2021

 

NATIONAL UPDATES:

 

1. 9 new Supreme Court judges, including 3 women, takes oath: Nine new judges, including three women, have been administered the oath of office as judges of the Supreme Court by Chief Justice of India (CJI) NV Ramana. The strength of the Supreme Court would go up to 33, including the CJI, out of the sanctioned strength of 34, after the swearing-in of the nine new judges. Three out of these nine new judges- Justice Vikram Nath and Justice BV Nagarathna and Justice PS Narasimha- are in line to become the chief justice of India. This is the first time that nine judges were sworn in together in the history of the top court. Traditionally, new judges take the oath of office in the CJI’s courtroom, but due to that Covid pandemic, the swearing-in ceremony would be held in the auditorium of the Supreme Court’s additional building complex.

Here are the names of nine new judges of the Supreme Court:

(1) Justice Vikram Nath:  Justice Nath, who was the chief justice of the Gujarat High Court, is in line to become the CJI upon the retirement of sitting top court judge Justice Surya Kant in February 2027.

(2) Justice BV Nagarathna: Justice Nagarathna was a judge of the Karnataka High Court. Justice Nagarathna is in line to become the first woman CJI in September 2027.

(3) Justice PS Narasimha: Justice Narasimha was a senior advocate and former additional solicitor general. Justice Narasimha would succeed Justice Nagarathna as the CJI and would have tenure of over six months.

(4) Justice Abhay Shreeniwas Oka: Justice Oka was the chief justice of the Karnataka High Court).

(5) Justice Jitendra Kumar Maheshwari: Justice Maheshwari was the chief justice of the Sikkim High Court.

(6) Justice Hima Kohli:  Justice Kohli was the chief justice of the Telangana High Court

(7) Justice CT Ravikumar:  Justice Ravikumar was a judge of the Kerala High Court

(8) Justice MM Sundresh:  Justice Sundresh was a judge of the Madras High Court

(9) Justice Bela M Trivedi:  Justice Trivedi was a judge of the Gujarat High Court

Note: 48th Chief Justice of India (CJI): Nuthalapati Venkata Ramana; Supreme Court of India Established: 26 January 1950.

 

2. PNB gives Rs 5100 cr for Ganga expressway project in UP: The work for the ambitious Ganga expressway project received a boost when Punjab National Bank (PNB) transferred a loan sanctioned letter of Rs 5100 crores to the Uttar Pradesh government for the project. The 594 km expressway will be the longest in North India and the second longest in the country. The estimated cost of the project is Rs 36,230 crore. The Ganga Expressway would become the backbone of the state’s economy. The project will connect Meerut in west Uttar Pradesh with Prayagraj in the east. Travelling time from Lucknow to Meerut will decrease to five hours and 6.5 hours from Prayagraj to Meerut through the Ganga Expressway.

 

3. TN Governor Banwarilal Purohit gets additional charge of Punjab, Chandigarh: Tamil Nadu Governor Banwarilal Purohit has been given the additional charge of Punjab and the Union Territory of Chandigarh. Earlier, V P Singh Badnore was the Governor of Punjab and the Administrator of Chandigarh. The President has also appointed Purohit as the Administrator of Chandigarh, in addition to his duties as the Governor of Punjab. Traditionally, Punjab Governor has functioned as the Administrator of Chandigarh.

 

4. Adidas roped Mirabai Chanu for its ‘Stay in Play’ campaign: Adidas has roped in Tokyo Olympic Silver-medalist Mirabai Chanu as the face of its ‘‘Stay in Play” campaign for its latest product innovation designed to keep more menstruating women in sports. The new TechFit Period Proof tights, featuring an absorbent layer to help protect against leaks when worn with a tampon or pad. Such innovations showcase Adidas’ commitment to encourage and support women in sport. Adidas found that teenage girls are dropping out of sport at an alarming rate, with one of the key reasons being fear of period leakage.

Note: Adidas Founder: Adolf Dassler; Adidas Founded: 18 August 1949; Adidas Headquarters: Herzogenaurach, Germany; Adidas CEO: Kasper Rorsted.

 

INTERNATIONALUPDATES:

 

1. India Hosts 8th Meeting of Agricultural Experts of BIMSTEC Countries: India hosted the 8th Meeting of Agriculture Experts of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Countries through video conferencing. The meeting was chaired by Dr Trilochan Mohapatra, Secretary, Department of Agricultural Research & Education & Director General of ICAR. BIMSTEC comprise of seven Member States including five from South Asia (Bangladesh, Bhutan, India, Nepal, Sri Lanka), and two from Southeast Asia, including Myanmar and Thailand.

During this meet, Chairman highlighted the UN Food System Summit 2021 and transformational aspects that are happening across agriculture and food systems globally. The BIMSTEC Member States also appreciated the greater engagement of India in offering six slots of scholarships for Master and PhD programmes in agriculture and other initiatives for capacity development & training.

About the BIMSTEC: BIMSTEC was founded in 1997 with the objective of pursuing mutual trade, connectivity & cultural, technical & economic development in the region. It earlier included six sectors viz., technology, trade, energy, transport, fisheries, and tourism. Sectors were later expanded to 14 areas of cooperation. Agriculture is one among the 14 sectors.

 

2. World Coconut Day: 2nd September: World Coconut Day is observed on September 02 every year since 2009. It is observed for promoting this tropical fruit and bringing awareness regarding its health benefits. The theme of World Coconut Day 2021 is ‘Building a Safe Inclusive Resilient and Sustainable Coconut Community Amid COVID-19 Pandemic & Beyond’. The WCD also commemorates the formation of the Asian Pacific Coconut Community (APCC), which aims to promote, coordinate and harmonize all activities of the coconut industry.

 

OTHER UPDATES:

 

SPORTS

 

1. Indian cricketer Stuart Binny announces retirement: Indian all-rounder cricketer, Stuart Binny has announced his retirement from all forms of cricket on August 30, 2021. He had represented Team India in six Tests, 14 ODIs and three T20Is, scoring a total of 459 runs and 24 wickets. Binny is the son of Roger Binny, a former India selector who was part of the 1983 world cup winning squad. In the Indian Premier League, he played for the Rajasthan Royals. Binny holds the record of the best bowling figures in ODI format. He produced a sensational spell taking 6/4 in just 4.4 overs as India bowled out Bangladesh for 58 after having themselves being shot out for 105 in a low-scoring affair.

 

2. Paralympics 2020: Yogesh Kathuniya wins silver in discus throw: India’s discus thrower Yogesh Kathuniya has clinched the silver medal at the ongoing Tokyo Paralympics in the men’s Discus Throw F56 final event. Yogesh claimed the second spot with a throw of 44.38m. Batista dos Santos from Brazil won gold, setting a Paralympic record with a throw of 45.59m. L. Diaz Aldana from Cuba bagged bronze.

 

BANKING AND FINANCE

 

1. SBI opened a floating ATM on Dal Lake in J&K’s Srinagar: State Bank of India has opened a floating ATM on a Houseboat at Dal Lake in Jammu and Kashmir’s Srinagar for the convenience of locals and tourists. The floating ATM was inaugurated by SBI Chairman Dinesh Khare. This is not the first time that SBI has launched a floating ATM as back in 2004, the bank took this initiative in Kerala. The SBI installed a floating ATM at Jhankar yacht, which operates between Ernakulum and Vaypeyan region, owned by Kerala Shipping and Inland Navigation Corporation (KSINC).

The SBI’s floating ATM was commissioned by Ashok K., Deputy Managing Director of Mumbai Corporate Center, launched by Kinney. The State Bank of India is the nation’s largest commercial bank, in terms of assets, deposits, customers, branches and employees. The bank has the largest network of 22,224 branches and 63,906 ATM / CDM in India with 71,705 BC outlets.

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

 

BUSINESS AND ECONOMY

 

1. PhonePe receives direct broking licence from IRDAI: Flipkart-owned digital payments platform PhonePe has received an insurance broking licence from the Insurance Regulatory and Development Authority of India (IRDAI). This means that with the new ‘direct broking’ licence, PhonePe can now distribute insurance products from all insurance companies in India, on its platform. Earlier in January 2020, PhonePe entered the insurtech sector, but with a limited insurance ‘corporate agent’ licence, which restricted it to partner with only three insurance companies per category. Prior to getting a broking licence, PhonePe, from January 2020, operated as a corporate agent and launched several offerings across general insurance, term insurance and health insurance. However, as a corporate agent, it was only restricted to partner with three insurance companies per category.

Note: CEO of Phonepe: Sameer Nigam; Headquarters location of Phonepe: Bengaluru, Karnataka.

 

2. Rajnish Kumar appointed as independent director of HSBC Asia: The former State Bank of India (SBI) chairman, Rajnish Kumar has been appointed as an independent director of the Hongkong and Shanghai Banking Corporation (HSBC) Asia entity on August 30, 2021. He has also been appointed as a member of the Audit Committee and Risk Committee of the company.

Mr Rajnish Kumar retired as SBI Chairman in October 2020 after a 40-year career at the SBI. His international tenure included stints at SBI’s UK and Canada operations. Kumar is also currently a director of India’s Lighthouse Communities Foundation, an independent director of Larsen & Toubro Infotech, a senior advisor of Baring Private Equity Asia Pte. Ltd in Singapore and an advisor of Kotak Investment Advisors Ltd in Mumbai.

Note: HSBC CEO: Peter Wong; HSBC Founder: Thomas Sutherland; HSBC Founded: March 1865.

 

DEFENCE

 

1. India Conducts Maritime Partnership Exercise with Algerian Navy: The Indian Naval Ship, INS Tabar, is on her goodwill visit to the number of ports in Africa and Europe since June 2021 till September 2021. As a part of this visit, INS Tabar took part in the Maiden Maritime Partnership Exercise with Algerian Navy, off the Algerian coast, in the Mediterranean Sea. The Algerian Naval Ship ANS Ezzadjer participated in the exercise.

The objective of the exercise: The objective of the exercise was to enhance interoperability, understand the concept of operations followed by each other, and opened the possibility of increasing interaction and collaboration between the two navies in the future. INS Tabar is a Talwar-class stealth Frigate built in Russia for the Indian Navy. The ship is a part of the Indian Navy’s Western Fleet, based in Mumbai.

Note: Algeria Capital: Algiers; Algeria Currency: Algerian dinar; Algeria President: Abdelmadjid Tebboune.

 

 

Daily GK Update- 1st Sep, 2021

NATIONAL UPDATES:

 

1. Maharashtra govt launches “Mission Vatsalya” for women’s: Maharashtra government launched a special mission called “Mission Vatsalya” in order to help women who lost their husbands to COVID-19. Mission Vatsalya will provide several services and some 18 benefits under one roof to those women. It been designed for widows, with a special focus on widows coming from rural areas, poor backgrounds and deprived sections. Under this mission, schemes like Sanjay Gandhi Niradhar Yojana and Gharkul Yojana will benefit those for women.

About the scheme:

(1) Under this scheme, 8,661 women have applied for the Sanjay Gandhi Niradhar Anudan Yojana, 405 for the Shravanbal Seva State Pension Scheme and 71 for the Indira Gandhi National Old Age Pension Scheme.

(2) Applications have been received from 1,209 women for the Indira Gandhi National Widow Pension Scheme.

(3) The Department has received three applications for the Indira Gandhi National Disability Pension Scheme. So far10349 applications have been received from the women contacted by the department of women and child development.

Note: Maharashtra Governor: Bhagat Singh Koshyari; Maharashtra Capital: Mumbai; Maharashtra CM: Uddhav Thackeray.

 

2. Govt recognises NBF-PNBSA as self-regulatory body for news media: Union Ministry of Information and Broadcasting has officially recognized NBF’s Professional News Broadcasters Standards Authority (‘PNBSA’). Professional News Broadcasters Standards Authority (‘PNBSA’) is a self-regulatory body of the News Broadcasters Federation (NBF) for news media. Now it has been officially recognized by the government. News Broadcasters Federation (NBF) is the largest association of news broadcasters across India representing combined interests and perspectives on the crucial matters related to the news broadcasting industry. Arnab Goswami is the current president of the News Broadcasters Federation (NBF).

 

3. Union Minister Anurag Thakur launches e-Photo Exhibition “Making of the Constitution” and Virtual Film Poster Exhibition “Chitranjali@75” to celebrate Azadi Ka Amrit Mahotsav: The Union Minister of Information and Broadcasting, and Youth Affairs & Sports, Shri Anurag Singh Thakur and Minister of Tourism, Culture and Development of North Eastern Region of India, Shri G. Kishan Reddy jointly inaugurated an e-Photo exhibition titled “Making of the Constitution” and Virtual Film Poster Exhibition named “Chitranjali@75”. The event was organized by Ministry of I&B to celebrate Azadi Ka Amrit Mahotsav. The e-photo exhibition aimed to inform people on the making of the Constitution, and encourage the youth of the country to learn about the Constitution, educate them on their rights as well as their duties towards the nation. The “Chitranjali@75 represents 75 years of Indian cinema, with focus on the sacred memories of our freedom fighters, our social reformers and the valour of our soldiers. It comprise of 75 film posters and photographs from different language cinemas.

 

4. Meity Minister Rajeev Chandrasekhar launches India’s first Quantum Computer Simulator (QSim) toolkit: The Union Minister of Electronics and Information Technology (Meity) Rajeev Chandrasekhar, launched India’s first indigenously developed Quantum Computer Simulator (QSim) Toolkit. The first-of-its-kind QSim toolkit has been developed jointly by IISc (Indian Institute of Science) Bangalore, IIT (Indian Institute of Technology) Roorkee and C-DAC (Centre for Development of Advanced Computing). The vital tool will enable learning and understanding the practical aspects of Quantum Computing in a cost-effective manner.

 

INTERNATIONALUPDATES:

 

1. India extends up to a million USD for climate resilient agriculture in Zimbabwe: The Government of India has contributed almost USD one million to the United Nations World Food Programme (WFP) in Zimbabwe to help affected populations tackle climate shocks. The contribution, provided through the India-UN Development Partnership Fund, will be used to assist more than 5200 smallholder farmers in Chiredzi and Mangwe districts. Working alongside partners, WFP Zimbabwe will provide expertise through its Smallholder Agricultural Market Support (SAMS) programme, to strengthen the resilience and capacity of selected smallholder farmers. The project will promote the cultivation of drought-tolerant small grains and legumes – reducing the negative effects of recurring droughts in Zimbabwe.

 

2. Amul ranks 18th in Rabobank 2021 Global Dairy Top 20 Report: Amul, Gujarat Cooperative Milk Marketing Federation (GCMMF) has dropped two places to rank 18th in Rabobank’s 2021 Global Top 20 Dairy Companies list. Amul was placed at 16th spot in 2020. Amul has achieved an annual turnover of $5.3 billion.

French-based dairy company Lactalis has topped the list as the world’s largest dairy company with a turnover of US $23.0 billion. It has unseated Switzerland-based global behemoth Nestle, which dominated the list for decades.

 

OTHER UPDATES:

 

SPORTS

 

1. Paralympics 2020: Javelin Thrower Sumit Antil wins gold for India: India’s Sumit Antil has won the gold medal in the men’s javelin throw F64 final event at the Tokyo Paralympics, and in the process set a new world record throw of 68.55m. The 23-year-old Sumit hails from Sonepat in Haryana. Michal Burian of Australia won the silver medal (66.29m), while Sri Lanka’s Dulan Kodithuwakku won the bronze medal. This is the second gold medal for India at the ongoing Tokyo Games and now the total medal tally of India has reached 7. Earlier, the bronze medal won by Vinod Kumar in the discus throw F56 final was declared as ineligible by the classification panel.

 

2. Paralympics 2020: Devendra Jhajharia Wins silver in Javelin throw: At the ongoing Tokyo Paralympics 2020, India’s greatest paralympian, Devendra Jhajharia won the silver medal in the men’s javelin throw – F46 final event on August 30, 2021. The 40-year-old Devendra performed his best throw of 64.35, for the silver. In the same event, Sundar Singh Gurjar won the bronze medal, with his best throw of 64.01. With this, the total medal tally of India at the Paralympics 2020 Games reaches to seven.

 

3. Sports Minister Anurag Singh Thakur launches Fit India Mobile App : The Union Minister of Youth Affairs and Sports, Shri Anurag Singh Thakur launched the Fit India Mobile Application on the occasion of National Sports Day, at Major Dhyan Chand National Stadium, New Delhi, and also as part of Azadi ka Amrit Mahotsav celebration. The launch of app also marks the second anniversary of Fit India Movement, which was launched on August 29, 2019. The Fit India App aims to empower every Indian to check their fitness level based on a set of age specific fitness tests and get specific recommendations on how to improve their fitness level through physical activities including yoga protocols.

 

BANKING AND FINANCE

 

1. RBI enhances the incentive for distribution of coins over the counter by banks to Rs 65: The Reserve Bank of India has increased the incentive that it gives to the banks for the distribution of coins over the counter from Rs 25/bag to Rs 65/bag of coin. This will be effective from September 01, 2021. The RBI provides incentives to banks and currency chests under the “Currency Distribution & Exchange Scheme (CDES)” for the distribution of coins over the counter. This is done to promote the circulation of coins. An additional incentive of Rs. 10/- per bag would be paid for coin distribution in rural and semi-urban areas on the submission of a CA / Auditor certificate to this effect. (.i.e Rs 75/bag)

 

2. Government Extends ‘Vivad se Vishwas’ scheme Deadline till September 30, 2021: The government has announced extension in the deadline for making payment under the direct tax dispute settlement scheme ‘Vivad Se Vishwas’ by one months till September 30, 2021. In June, the Ministry of Finance had extended the deadline for making payments under the scheme till August 31. The decision for further extension in deadline was taken considering the difficulties being faced in issuing and amending Form no 3, which is essential for making payment by the declarant under Vivad se Vishwas Act. This is the fifth time that the deadline is being extended by the Ministry of Finance.

 

BUSINESS AND ECONOMY

 

1. PFRDA increases the entry age in National Pension System (NPS) to 70 years: The Pension Fund Regulatory and Development Authority (PFRDA) has increased the entry age for the National Pension System (NPS) from 65 years to 70 years. Earlier the eligible age to invest in NPS was 18-65 years which has now been revised to 18-70 years. As per the revised norms, any Indian Citizen, resident or non-resident and Overseas Citizen of India (OCI) between the age of 65-70 years can join NPS and continue or defer their NPS Account up to the age of 75 years. If a person joins NPS after 65 years, then the Normal Exit shall be after 3 years. Exit before 3 years will be considered premature exit. There is also a limit on the amount that can be exposed to equity in case the NPS is open after 65 years. The maximum equity exposure is 15% and 50% under Auto and Active Choice respectively.

 

2. RuPay launches #FollowPaymentDistancing campaign: RuPay has launched a strategic campaign titled – #FollowPaymentDistancing to promote and encourage contactless payments among customers. Due to COVID-19, customers have been following several norms and measures to stay safe by following healthy habits, self-care routines, and social distancing. RuPay’s #FollowPaymentDistancing campaign encourages consumers to start ‘payment distancing’ and switch to contactless digital payments with RuPay Contactless Cards which is safe as well as time-conserving.

About Contactless payments: Contactless payments allow merchants to offer their consumers a safer, cleaner way to pay, reduce long queues at checkout counters, and more control over physical space during these tough times. The campaign aims to educate both the merchants and consumers about the benefits of using contactless payments during these unprecedented situations.

 

OBITUARIES

 

1. Noted Bengali Writer Buddhadeb Guha passes away: Eminent Bengali writer Buddhadeb Guha, has passed away. He was the author of many notable works such as “Madhukari” (Honey Gatherer), “Koeler Kachhe” (Near the Koel bird) and “Sobinoy Nibedon” (Humble Offering). He also won several awards including Ananda Purashkar in 1976, Shiroman Purashkar and Sharat Puraskar.

 

2. Renowned cricket coach Vasoo Paranjape passes away: Former India cricketer and coach, Vasoo Paranjape has passed away. He was considered a mentor of stalwarts like Sunil Gavaskar, Dilip Vengsarkar, Rahul Dravid, Sachin Tendulkar and Rohit Sharma to name a few. He also gave Gavaskar the nickname ‘Sunny’. Paranjape was born on November 21, 1938, in Gujarat, Paranjape was a former Ranji Trophy player and a coach at the National Cricket Academy. He was the father of former India and Mumbai cricketer Jatin Paranjape.