Daily GK Update- 3rd Oct, 2021

 

NATIONAL UPDATES:

 

1. IFSCA Constitutes an Expert panel on Sustainable Finance: International Financial Services Centres Authority (IFSCA) has constituted an Expert Committee to recommend an approach towards the development of the Sustainable Finance Hub at IFSC. The expert committee will be chaired by C.K. Mishra, Former Secretary to Government of India, Ministry of Environment, Forest & Climate Change. The committee consists of a total of 10 members including the chairperson and the member secretary.

About the expert committee: The committee shall study the current regulatory practices in Sustainable Finance across major International financial jurisdictions and recommend a robust framework to develop a world-class sustainable finance hub at IFSC, along with a road map for the same.

About IFSCA: IFSCA was established by the Ministry of Finance on April 27 2020, as a unified regulator of all financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India. It has its headquarter at GIFT city in Gandhinagar, Gujarat.

 

2. Amazon India launched its Global Computer Science Education programme: E-commerce major Amazon India has announced the launch of Amazon Future Engineer, its global computer science education programme in India. The programme will enable access to quality computer science education and career opportunities for students from underrepresented and underserved communities. In the first year of its launch, Amazon aims to enable and deliver learning opportunities to more than 1 lakh students from 900 government and aided schools across seven states in India. About the programme:

(1) Amazon Future Engineer aims to address the gap by bringing early exposure and access to computer science education to students through in-person, online and blended learning formats.

(2) Amazon is working with its global knowledge partner Code.org, a global non-profit organization dedicated to computer science education.

(3) Amazon Future Engineer programme in India will focus on the students of 6-12 class and it will also provide training to teachers for teaching computer science in a more engaging way.

(4) Amazon is running this kind of programme in the US, the UK, Canada, and France.

Note: Amazon CEO: Andrew R. Jassy; Amazon Founded: 5 July 1994.

 

3. Mukesh Ambani tops Hurun India Rich List 2021: Reliance Industries Chairman, Mukesh Ambani has topped the IIFL Wealth Hurun India Rich List for the 10th consecutive year. In 2021, his total net worth was recorded at Rs 7,18,000 crore. Meanwhile, Adani Group Chairman Gautam Adani is in the second spot with a net worth of Rs. 5,05,900 crore. Shiv Nadar & the family of HCL technologies are third in the list with a net worth of Rs 2,36,600 crore.

About the Hurun India Rich List 2021: The Hurun India Rich list 2021 has named the richest individuals in the country with a wealth of Rs 1,000 crore or more as on September 15, 2021. The Hurun India Rich List 2021, features as many as 1,007 individuals across 119 cities with a net worth of Rs 1,000 crore. As per the report, India has 237 billionaires, up 58 compared to last year.

Other Richest Indians In The Top 10:

Name	Rank
SP Hinduja & family	4th
LN Mittal & family	5th
Cyrus S Poonawalla of Serum Institute of India	6th
Radhakishan Damani of Avenue Supermarts	7th
Vinod Shantilal Adani & family	8th
Kumar Mangalam Birla & the family of Aditya Birla Group	9th
Jay Chaudhry of cloud security company Zscaler	10th

 

4. Sunil Kataria elected as the chairman of the ISA: The newly elected Executive Council of the Indian Society of Advertisers (ISA) has elected Sunil Kataria, Chief Executive Officer, India and SAARC, Godrej Consumer Products Limited as the Chairman of the ISA. Sunil has led the Society over the past five years to greater heights garnering support from the fellow Executive Council members, the ISA members and other industry bodies.

About the ISA: ISA is the apex national body as a strong voice to advertisers over the last 69 years. Its cross-sector advertiser members contribute to more than half of the annual national non-governmental ad spends. ISA, which is a founder member of the World Federation of Advertisers (WFA) and one of the founders of ASCI, continues to partner with other industry bodies that connect to the advertisers. The ISA played a significant role in the formation of BARC and is closely partnering with it towards advertisers getting robust and credible data.

 

5. Chronicles from the Land of the Happiest People on Earth by Wole Soyinka released: A novel titled “Chronicles from the Land of the Happiest People on Earth” authored by Wole Soyinka has been released. Wole Soyinka is Africa’s first Nobel laureate in Literature. He wrote his last novel ”Season of Anomy” in 1973. He returns with a new novel after nearly 50 years. His notable plays include ”The Jero Plays”, ”The Road”, ”The Lion and the Jewel”, ”Madmen and Specialists” and ”From Zia, With Love”.

 

INTERNATIONAL UPDATES:

 

1. Najla Bouden Romdhane appointed as first woman PM of Tunisia: Najla Bouden Romdhane has been appointed as the first-ever female Prime Minister of Tunisia. The 63-year-old has also become the first female prime minister in the whole Arab world. Prior to this appointment, Najla served in the education ministry in 2011. She is a geologist by profession and professor at the Tunis National School of Engineering.

Note: President of Tunisia: Kais Saied; Capital of Tunisia: Tunis; The currency of Tunisia: Tunisian Dinar.

 

OTHER UPDATES:

 

SPORTS

 

1. Professional boxer Manny Pacquiao announces retirement from boxing: After 26 years and 72 professional bouts, Former world champion Manny Pacquiao announced his retirement from professional boxing. He made his professional debut in 1995 at age 16. He became the first boxer to win the lineal championship in five different weight classes and is the only boxer to hold world championships across four different decades. He held the welterweight title as recently as 2019 at age 40.

 

2. India women team played their first-ever pink-ball test: The first pink-ball day and night Test match between India and Australian women team at the Carrara Oval in Queenslandon, Australia on 30th September. The BCCI and Cricket Australia wish to slot in a Test in the full series they play going forward. The Indian team lead by Mithali Raj. Australia played the first pink-ball Test against England in 2017 in Sydney during the women’s Ashes.  The two teams last played a Test in Adelaide in 2006 when Australia won convincingly. Jhulan Goswami is one of two survivors from that Test along with Mithali Raj.

 

BANKING AND FINANCE

 

1. Paytm acquires 100% ownership of lending startup CreditMate: Online payment services provider, Paytm has acquired a 100% stake in Mumbai-based digital lending startup CreditMate. However, the transaction details of the deal have not been disclosed. The Paytm Group will now be the 100% beneficial owners of the business, while the co-founders of CreditMate will exit the business.

About the CreditMate: CreditMate was founded in 2019 by Jonathan Bill, Ashish Doshi, Swati Lad and Aditya Singh as a collection platform that helps lenders collect overdue payments from borrowers.

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

 

BUSINESS AND ECONOMY

 

1. NSDL appointed Padmaja Chunduru as MD & CEO: Padmaja Chunduru has been appointed as the managing director and chief executive officer (MD & CEO) of National Securities Depositories (NSDL). She has replaced GV Nageswara Rao as the MD & CEO of NSDL. In India, there are two depositories namely National Securities Depositories Ltd (NSDL) and Central Securities Depositories Ltd (CDSL). Both the depositories hold our financial securities.

 

AWARDS AND HONOURS

 

1. Nobel Prize in Physiology or Medicine 2021 announced: The Nobel Prize in Physiology or Medicine 2021 was awarded jointly to David Julius and Ardem Patapoutian “for their discoveries of receptors for temperature and touch.” These breakthrough discoveries launched intense research activities leading to a rapid increase in our understanding of how our nervous system senses heat, cold, and mechanical stimuli. The laureates identified critical missing links in our understanding of the complex interplay between our senses and the environment. The announcement was made by a panel at the Karolinska Institute in Stockholm.

About the David Julius: David Julius of the University of California utilised capsaicin, a pungent compound from chili peppers that induces a burning sensation, to identify a sensor in the nerve endings of the skin that responds to heat.

About the Ardem Patapoutian: Ardem Patapoutian, who is with Howard Hughes Medical Institute at Scripps Research, used pressure-sensitive cells to discover a novel class of sensors that respond to mechanical stimuli in the skin and internal organs.

The Nobel Prize: The prestigious award comes with a gold medal and 10 million Swedish kronor (over $1.14 million). The prize money comes from a bequest left by the prize’s creator, Swedish inventor Alfred Nobel, who died in 1895. The other prizes are for outstanding work in the fields of physics, chemistry, literature, peace and economics.

 

OBITUARIES

 

1. Ghanshyam Nayak of Taarak Mehta Ka Ooltah Chashmah passes away: Veteran television actor Ghanashyam Nayak, who was famous for his role as Nattu Kaka in the TV series Taarak Mehta Ka Ooltah Chashmah has passed away due to cancer. He was known for playing the role of Natwarlal Prabhashankar Undhaiwala AKA Nattu Kaka in the famous show Taarak Mehta Ka Ooltah Chashmah. Apart from this, he has worked in over 100 Gujarati and Hindi films and around 350 Hindi television serials.

Daily GK Update- 2nd Oct, 2021

 

NATIONAL UPDATES:

 

1. PM Modi chairs 38th PRAGATI Meeting: Prime Minister Narendra Modi has chaired the 38th PRAGATI meeting to review multiple projects, grievances and programmes of central and state government. PRAGATI stands for Pro-Active Governance and Timely Implementation. In the meeting, eight projects were taken for review having a cumulative cost of around Rs 50,000 crore. 297 projects worth Rs. 14.39 lakh crore has been reviewed so far in the previous 37 PRAGATI meetings.

About the PRAGATI: PRAGATI is an ambitious multi-purpose and multi-modal platform, launched in March 2015, by PM Modi as a unique integrating and interactive platform, aimed at addressing common man’s grievances and simultaneously monitoring and reviewing important programmes and projects of the Government of India as well as projects flagged by State Governments.

 

2. SC introduces Fast and Secured Transmission of Electronic Records system: In a big fillip to the fundamental rights of life, dignity and personal liberty, the Supreme Court has introduced a new system by which its crucial decisions, including orders on bail and stay of arrest, can be communicated electronically to prison authorities and investigating agencies through a secure channel. Following an order on July 16 by a Special Bench led by Chief Justice of India N.V. Ramana, the apex court has introduced the “Fast and Secured Transmission of Electronic Records” (FASTER) system. The system is meant to ensure that undertrials are not made to wait for days on end behind bars to be released because the certified hard copies of their bail orders were late to reach the prison.

 

3. Vinod Aggarwal appointed ASDC president: The Automotive Skills Development Council (ASDC) has appointed automobile industry veteran Vinod Aggarwal as its president. Aggarwal, who is currently the managing director and CEO of VE Commercial Vehicles Ltd (VECV), replaces Nikunj Sanghi, who will leave ASDC after serving it for four years. ASDC was set up a decade ago and is promoted by the top industry associations — SIAM, ACMA and FADA — along with the central government and the National Skill Development Corporation (NSDC). It is a sector skills council for the auto industry, which aims to make the country self-sufficient to sustain the growth and competitiveness of the automotive industry.

 

4. Gandhi Jayanti 2021: 2nd October: Every year 2nd October is celebrated as a Gandhi Jayanti to remember the birth anniversary of the father of our nation Mahatma Gandhi. The year 2021 marks the 152nd birth anniversary of the global peace icon who was born on 2 October 1869, in Porbandar in Gujarat. This day is referred to as Gandhi Jayanti in India.

On 15 June 2007, the United Nations General Assembly voted to establish 2 October as the International Day of Non-Violence. The International Day of Non-Violence is observed on 2 October, the birthday of Mahatma Gandhi, leader of the Indian independence movement and pioneer of the philosophy and strategy of non-violence. The International Day is an occasion to “disseminate the message of non-violence, including through education and public awareness”.

 

5. National Wildlife Week: 02 to 08 October 2021: National Wildlife Week is annually celebrated across India between 2nd to 8th October with an aim to protect and preserve the flora and fauna of India. The Wildlife Week 2021 is celebrated from 2nd October to 8th October. In 2021, we are celebrating 67th Wildlife Week. This year National Wildlife Week theme 2021: “Forests and Livelihoods: Sustaining People and Planet”.

History of Wildlife Week: The Indian Board of Wildlife was constituted and the idea of Wildlife Week was conceptualised in 1952 to raise awareness about the long term goals of protecting the wildlife of India. Initially, in 1955 the Wildlife day was celebrated which was later upgraded as Wildlife Week in 1957.

 

INTERNATIONALUPDATES:

 

1. Accra named UNESCO World Book Capital 2023: The Director-General of UNESCO, Audrey Azoulay, has named Accra (Ghana) as UNESCO World Book Capital for 2023, following the evaluation of the World Book Capital Advisory Committee. After Guadalajara (Mexico) in 2022, the city of Accra was selected for its strong focus on young people and their potential to contribute to the culture and wealth of Ghana. Accra’s proposed programme seeks to use the power of books to engage these young people, as an effective way of skilling up the next generation.

 

2. India, Oman ink pact to boost maritime security cooperation: India and Oman inked an agreement for exchange of white shipping information and to boost maritime security cooperation in reflection of growing cooperation between the two sides. It was signed during Admiral Singh’s three-day visit to Oman. The information would be exchanged between the Indian Navy’s Information Fusion Centre and the MSC (Maritime Security Centre), Oman, and contribute to enhanced maritime safety and security in the region. The Indian Navy cooperates with the Royal Navy of Oman on many fronts that include operational interactions and training.

 

3. US successfully flight tests Raytheon hypersonic weapon: The United States has tested an air-breathing hypersonic weapon capable of speeds faster than five times the speed of sound, marking the first successful test of the class of weapon since 2013, the Pentagon said. The test took place as the United States and its global rivals quicken their pace to build hypersonic weapons – the next generation of arms that rob adversaries of reaction time and traditional defeat mechanisms. The missile, built by Raytheon Technologies, was released from an aircraft seconds before its Northrop Grumman scramjet (supersonic combustion ramjet) engine kicked on.

 

4. Earth-monitoring Satellite Launches From California: The latest in a series of U.S. satellites that has recorded human and natural impacts on Earth’s surface for decades was launched into orbit from California to ensure continued observations in the era of climate change. Landsat 9 was carried into space aboard a United Launch Alliance Atlas V rocket that lifted off from foggy Vandenberg Space Force Base. It will take the orbital track of Landsat 7, which will be decommissioned. A project of NASA and the US Geological Survey, Landsat 9 will work in tandem with a predecessor, Landsat 8, to extend a nearly 50-year record of land and coastal region observations that began with the launch of the first Landsat in 1972.

 

5. World Day for Farmed Animals: 02 October: World Day for Farmed Animals (WDFA) is observed on October 02, which marks the birth anniversary of Mahatma Gandhi. The day is organised by the International animals’ welfare organization, World Animal Protection along with Asia for Animals coalition to show the importance and urgency of farm animal welfare. The day is dedicated to exposing the needless suffering and death of farmed animals who are raised and slaughtered for food. World Day for Farmed Animals has been organized each year since 1983 by the Farm Animal Rights Movement (FARM), this year with the participation of Animal Justice, the Animal Law Firm, the Animal Activism Mentorship Program, Jewish Veg, Switch4Good, and Their Turn.

 

OTHER UPDATES:

 

SPORTS

 

1. Tokyo Olympic medalist Rupinder Pal Singh announces retirement from hockey: The Olympic bronze medal-winning Indian hockey player, Rupinder Pal Singh has announced his retirement from international hockey to make way for young and talented players. The 30-year-old Rupinder represented the Indian hockey team in 223 matches in his 13 years hockey career. Rupinder was part of the Indian hockey team that won the bronze medal in the 2020 Summer Tokyo Olympics, held in July – August 2021.

 

BANKING AND FINANCE

 

1. ICICI Bank to offer instant OD to sellers registered on amazon.in: ICICI Bank announced that it has partnered with Amazon India to offer overdraft (OD) facility upto ₹25 lakh to individual sellers and small businesses registered on the e-commerce company’s online marketplace. Sellers having current account with ICICI Bank can immediately start using the OD to meet their working capital requirements. Customers of other banks can avail the OD by simply opening a current account with the Bank digitally. This new and improved process will help the sellers, who may otherwise not get access to adequate credit when assessed in the traditional way of using only balance sheets, bank statements and tax returns.

 

2. Federal Bank launches RuPay Signet contactless credit card: Federal Bank joined hands with the National Payments Corporation of India (NPCI) and launched the ”Federal Bank RuPay Signet Contactless Credit Card.” It comes with the lowest Annual Percentage Rate (APR) starting from just 5.88 per cent per annum. The Federal Bank RuPay Signet credit cardholders will gain access to a wide variety of offers and deals across categories including travel, food and dining, shopping, sports, entertainment, lifestyle and much more.

 

3. SEBI approves frameworks for Gold and Social Stock Exchanges: Securities Exchange Board of India (SEBI) has approved the frameworks for gold exchange and Social Stock Exchange. The market regulator SEBI also approved amendments to delisting framework for equity shares at the board meeting held in Mumbai. A gold exchange is being set up to trade the yellow metal in the form of electronic gold receipts, which will help in having a transparent domestic spot price discovery mechanism. The instrument representing gold is to be called Electronic Gold Receipt (EGR), and will be having trading, clearing and settlement features akin to other securities. The framework for the SSE has been developed on the basis of the recommendations of a working group and technical group constituted by the regulator.The Sebi board has decided to amend rules pertaining to delisting of equity shares of a company following an open offer as part of efforts to make merger and acquisition transactions more rational and convenient.

 

BUSINESS AND ECONOMY

 

1. ICRA revise GDP growth of India to 9.00% in FY 2022: The domestic credit rating agency ICRA has revised up the gross domestic product (GDP) growth rate of India for the financial year 2021-22 (FY22) to 9 percent. Earlier this rate was 8.5%. ICRA is Gurgaon based credit rating agency, owned by Moody’s Corporation.

Daily GK Update- 1st oct, 2021

 

NATIONAL UPDATES:

 

1. GoI increases the income limit of disabled dependents for family pension to 30%: Ministry of defence and union government has decided to increase the income limit of disabled dependents for family pension to children/siblings suffering from mental or physical disability. The child/sibling will be eligible for family pension for life if his/her overall income from sources other than a family pension is less than 30% of the last pay drawn by the deceased government servant/pensioner concerned plus the dearness relief admissible thereon. The financial benefit in such cases will accrue with effect from 08 February 2021. Presently, the disabled child/sibling is eligible for family pension if the overall monthly income of the disabled child/sibling from sources other than the family pension is not more than Rs 9,000, along with dearness relief.

 

2. MoHUA launches convergence of DAY-NULM and PMFME to support Micro Food Processing Units of Urban SHGs:             Ministry of Housing & Urban Affairs (MoHUA) has organized the launch event of the Convergence between PM Formalisation of Micro-food processing Enterprises (PMFME) & Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) scheme. This has been done to support Micro Food Processing Units of Urban SHGs. The convergence of both the schemes will benefit approximately 32,000 SHGs that have been identified by States/ UTs to be involved in Food Processing activities.

PM Formalisation of Micro-food processing Enterprises (PMFME) was launched by Ministry of Food Processing Industries on 29th June 2020. The PMFME Scheme is currently being implemented in 35 States and Union Territories. It was launched to enhance the competitiveness of individual micro-enterprises in the unorganized segment & promote formalization of this food processing sector.

MoHUA is implementing a flagship Scheme named DAY-NULM, which has mobilised over 61 lakhs urban poor women into SHGs and their federations.

 

3. Govt sets up GoM to rationalise GST rates; Head- Karnataka CM Basavaraj S. Bommai: The government has formed a 7 member group of ministers (GoM) for proposing a rationalization of tax rates and considering the merger of different tax slabs under GST. This GoM will be headed by the Chief Minister of Karnataka Basavaraj S. Bommai. The government has formed one more GoM which will look at tapping IT tools to minimize tax evasion and make compliance easier for taxpayers. Ajit Pawar, Maharashtra deputy CM has been made the convenor of this GoM.

 

4. Ministry of Social Justice & Empowerment launches Elder Line: Ministry of Social Justice & Empowerment has launched India’s first Pan-India helpline for senior citizens named ‘Elder Line’ for which the toll-free number is 14567. The platform will allow senior citizens to connect and share their concerns, get information and guidance on problems that they face on a day-to-day basis. It will provide free information and guidance on pension issues, legal issues, extend emotional support, and even intervene on the field in cases of abuse, and rescues the homeless elderly. Tata Trusts and NSE Foundation are the technical partners for “Elder Line”.

 

5. Haryana gives nod for implementing Mukhyamantri Bagwani Bima Yojana: The Haryana Cabinet approved the implementation of the Mukhyamantri Bagwani Bima Yojana (MBBY), an assurance-based scheme to compensate crop losses due to adverse weather and natural calamities for farmers growing horticulture crops. Under this scheme, farmers need to give only 2.5 percent that is Rs 750 for vegetable and spice crop and Rs 1000 for fruit crops against a sum assured of Rs 30,000 and Rs 40,000, respectively. The scheme will be optional. A seed capital of Rs 10 crore will be kept by the state government for the scheme.

 

INTERNATIONAL UPDATES:

 

1. North Korea tests fire hypersonic missile “Hwasong-8”: North Korea successfully tested a new hypersonic missile called Hwasong-8, in a bid to increase the nation’s capabilities for self-defence. The missile was one of the five most important new weapons systems laid out by North Korea in the five-year military development plan. This was the country’s third missile test in a month. Earlier it tested a new type of cruise missile, as well as a new train-launched ballistic missile system.

About the missiles: Hypersonic missiles fly at lower altitudes compared to ballistic weapon systems and can attain more than five times the speed of sound, restricting the interception capabilities of adversaries.

Note: North Korea Capital: Pyongyang; North Korea Supreme leader: Kim Jong-un; North Korea Currency: North Korean won.

 

2. International Day of Older Persons: 1st October: International Day of Older Persons is observed globally on 1st October every year. The day aims to raise awareness about issues affecting the elderly, such as senescence and elder abuse, and appreciate the contributions that older people make to society. The theme of International Day of Older Persons 2021: Digital Equity for All Ages.

History: On 14 December 1990, the United Nations General Assembly designated October 1 as the International Day of Older Persons (resolution 45/106). This was preceded by initiatives such as the Vienna International Plan of Action on Ageing, which was adopted by the 1982 World Assembly on Ageing and endorsed later that year by the UN General Assembly.

 

3. World Vegetarian Day: 1st October: World Vegetarian Day is observed annually on October 1 globally to raise awareness about the ethical, environmental, health, and humanitarian benefits of a vegetarian lifestyle. World Vegetarian Day is celebrated to emphasize environmental considerations, animal welfare and rights issues and personal health benefits to encourage people into ditching animal products. The full week between October 1–7 is observed as the International Vegetarian Week (IVW).

History: Vegetarianism was frequently referred to as a Pythagorean Diet, before the popularization of the term ‘vegetarian’ in the mid-1800s. Ancient Greek philosopher and mathematician Pythagoras was an early advocate for the diet hence, it was named after him. Established by the North American Vegetarian Society in 1977 and endorsed by the International Vegetarian Union in 1978, World Vegetarian Day is observed annually around the globe on October 1.

 

4. International Coffee Day: 1st October: Every year, International Coffee Day is observed on October 1, to celebrate and promote the use of coffee. There are many who believe that coffee might pose ill effects on their health, therefore, on this day people are educated about the various benefits of this beverage. On International Coffee Day, the hard work and efforts of these workers and people who are associated with the coffee industry are also recognised.

History of the day:  For the first time, International Coffee Day was celebrated back in 2015. The International Coffee Organisation (ICO) decided to dedicate the day to all coffee lovers in 2014, but the first official Coffee Day was launched in 2015 in Milan. However, different countries celebrate their own national coffee days on different dates. Back in 1997, the ICO first celebrated International Coffee Day in China and later in 2009, it celebrated the day in Taiwan. Nepal observed the first International Coffee Day on November 17, 2005.

 

OTHER UPDATES:

 

SPORTS

 

1. Ranveer Singh Named India’s NBA Brand Ambassador: The National Basketball Association (NBA) has named Bollywood actor Ranveer Singh as its brand ambassador for India. He will work with the NBA to help grow the league’s profile in India throughout its landmark 75th anniversary season in 2021-22. For the 2021-22 season, Singh will participate in a number of league initiatives that will be featured on NBA India’s and his personal social media accounts.

About the NBA: The NBA is a global sports and media business built around four professional sports leagues: the National Basketball Association, Women’s National Basketball Association, the NBA G League and the NBA 2K League. The NBA games and programming is available in 215 countries and territories and merchandise for sale in more than 100,000 stores in 100 countries.

 

BANKING AND FINANCE

 

1. NPCI tie-up with YES Bank for ‘On-the-Go’ payment solution: The National Payments Corporation of India (NPCI) has partnered with private sector lender YES Bank to launch first-of-its-kind ‘RuPay On-the-Go’ contactless payments solutions. The RuPay On-the-Go contactless solution is mainly a wearable payment solution, launched to enable customers to make small and large value transactions from accessories that they wear every day. The solution would eliminate the need to carry a physical card, and customers can use the solution at RuPay contactless-enabled PoS at retail outlets and pay up to Rs 5,000 without the need for a PIN. The solution is based on a simple ‘Tap, pay, go’ mechanism. It has been launched in association with fintech infrastructure partner Neokred and manufacturing partner Seshaasai.

Note: YES bank HQ: Mumbai, Maharashtra; YES bank MD & CEO: Prashant Kumar.

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

 

2. Centre extends existing foreign trade policy (FTP) till March 2022: The Ministry of Commerce and Industry has further extended the Foreign Trade Policy (FTP) 2015-20, till March 31, 2022. This is the third extension to the policy. The first extension was given on March 31, 2020 for one year till March 2021, due to the Covid outbreak and the nationwide lockdown. Again the policy was extended till September 30, 2021, as the impacts of the pandemic still exists. FTP 2015-20 provides guidelinesfor increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in line with the ‘Make in India’ programme.

 

DEFENCE

 

1. Defence Acquisition Council clears proposals worth over 13,000 crore rupees for armed forces: Defence Acquisition Council (DAC) headed by Defence minister Rajnath Singh has approved proposals of modernization and operational needs of the Indian Armed Forces amounting to 13,165 crore rupees. Key approvals include helicopters, guided munition and rocket ammunition. The DAC has accorded approval for procurement of 25 ALH Mark III helicopters from HAL under Buy Indian at a cost of 3,850 cr rupees to improve its integral lift capability ensuring its operational preparedness. Giving a boost to Indigenous Design and Development of ammunitions, DAC accorded approval for procurement of Terminally Guided Munition (TGM) and Rocket Ammunition at an approx cost of 4,962 crore rupees from domestic sources. Other proposals worth 4,353 crore rupees were also accorded Acceptance of Necessity by the DAC.

Daily GK Update- 30th Sept, 2021

 

NATIONAL UPDATES:

 

1. Lok Sabha Speaker Launches ‘NIDHI 2.0’ Scheme: The Speaker of Lok Sabha, Om Birla has inaugurated the NIDHI 2.0 (National Integrated Database of Hospitality Industry) scheme, during an event organised by the Ministry of Tourism, on the occasion of 2021 World Tourism Day. The NIDHI 2.0 database will have more inclusivity, by not only including accommodation units, but also travel agents, tour operators, & others. About NIDHI scheme:

(1) The NIDHI scheme was launched by the Ministry of Tourism to facilitate the digitalization of the tourism sector and promote ease of doing business for the hospitality & tourism sector, by encouraging all accommodation units to register themselves on the platform to become part of the hospitality industry.

(2) As a part of the occasion, the Ministry of Tourism signed an MoU with the United Nations Environment Programme (UNEP) and The Responsible Tourism Society of India (RTSOI) to actively promote and support ‘sustainability initiatives’ in the tourism sector of each other.

 

2. GoI starts work to develop ‘Parshuram Kund’ in Arunachal Pradesh: The government of India has started work for the development of ‘Parshuram Kund’, a Hindu pilgrimage site on the Brahmputra plateau in the lower reaches of the Lohit river in Arunachal Pradesh. The project costing Rs 37.88 crore was sanctioned under the Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD) Scheme of the Ministry of Tourism.

About the scheme: The ‘National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive’ (PRASHAD) is a Central Sector Scheme launched in 2014-15 with complete financial assistance by the Government of India. It was targeted to develop tourism infrastructure to harness pilgrimage and heritage tourism destinations for its direct and multiplier effect upon employment generation and economic development.

Note: Arunachal pradesh CM: Pema Khandu; runachal Pradesh Governor: B. D. Mishra.

 

3. Aveek Sarkar re-elected as Press Trust of India Chairman: Aveek Sarkar, the Editor Emeritus and Vice Chairman of the Ananda Bazar Group of Publications, was re-elected Chairman of Press Trust of India (PTI), the country’s largest premier news agency. Sarkar is a man of varied interests and counts books, food, wine and art among his principal loves. He was captain of the Royal Calcutta Golf Club (RCGC) for 10 years. Sarkar’s re-election for a two-year term was ratified by PTI’s Board of Directors at their meeting. K N Shanth Kumar, Director of The Printers (Mysore) Pvt. Ltd. which brings out Deccan Herald and Kannada language daily Prajavani, was elected as the Vice-Chairman.

Note: PTI Headquarters location: New Delhi; PTI Founded: 27 August 1947.

 

4. Union Minister Jitendra Singh launches “Amrit Grand Challenge Program-जनCARE”: As a part of the Azadi Ka Amrit Mahotsav, Union Minister Dr Jitendra Singh (Union Minister of State (Independent Charge) Science & Technology) launched the “AmritGrand Challenge Program” titled “जनCARE”. The Grand Challenge aims to identify 75 Start-Up and entrepreneurs, who come out with Innovative Ideas and Solutions for India’s healthcare challenges, that can work in Low Resource Settings, for strengthening Healthcare Delivery in India. About the scheme:

(1) The Challenge has been launched jointly by Biotechnology Industry Research Assistance Council (BIRAC), NASSCOM and NASSCOM Foundation, as a nationwide “Discover – Design – Scale” program.

(2) The “जनCARE” Amrit Challenge will recognise start-ups in fields like Innovations in Telemedicine, Digital Health, mHealth with BIG Data, AI, BlockChain and other technologies.

The Challenge will end on December 31, 2021.

 

5. Indra Nooyi memoir “The secrets to balancing work and family life”: In her book, My Life in Full: Work, Family and our Future, Indra Nooyi focuses on the importance that organisational support plays in working women’s lives. For instance, she lists the offer of three months of paid leave by BCG to take care of her father in India when he was diagnosed with cancer. Indra Nooyi tells the story of that journey in her memoir, My Life in Full (published by Hachette India) in 313 pages that are packed with her experiences of settling in America, negotiating the boardroom, balancing work and family life and what the pandemic has meant for workplaces.

 

INTERNATIONALUPDATES:

 

1. Fumio Kishida to become Japan’s next PM: Japan’s former Foreign Minister, Fumio Kishida has won the ruling party’s leadership election, virtually ensuring that he will become the country’s next prime minister. Kishida won 257 votes in a runoff to defeat Taro Kono, a popular vaccines minister who previously held the positions of defence and foreign minister.

The 64-year-old replaces outgoing party leader Prime Minister Yoshihide Suga, who is stepping down after serving only one year since taking office last September. Kishida previously served as LDP policy chief and was foreign minister between 2012-17, during which he negotiated accords with Russia and South Korea, with whom Japan’s relations are often frosty.

Note: Japan Capital: Tokyo; Japan Currency: Japanese Yen.

 

2. World Maritime Day 2021: 30th September: World Maritime Day 2021 is observed globally on 30th September. The exact date of celebrating World Maritime Day is left to the individual governments but is usually celebrated during the last week in September. The theme of World Maritime Day 2021 is “Seafarers at the core of shipping’s future”. The theme for this year reflects a clear need to raise awareness of seafarersʹ crucial role in world trade and increase their visibility. The World Maritime theme for 2021 will provide the opportunity to focus on seafarers as the people at the heart of shipping, while also allowing for activities to delve into specific topics relevant to the role of the seafarer in safety, maritime security, environmental protection and seafarersʹ well-being; and the future of seafaring against a backdrop of increased digitalization and automation.

Note: International Maritime Organization Headquarters location: London, United Kingdom; International Maritime Organization Founded: 17 March 1948; International Maritime Organization Secretary-General: Kitack Lim.

 

3. International Translation Day: 30th September: Every year, International Translation Day is marked on 30 September. The International Federation of Translators (FIT) organise the day ever since it was set up in 1953. The day aims to celebrate the work of language translation professionals which facilitates dialogue, understanding and cooperation, contributing to the development and strengthening of world peace and security. International Translation Day 2021 theme: “United in translation”.

History: The International Federation of Translators (FIT) organise the day ever since it was set up in 1953. The first official celebration of ITD was held in 1991. The day also marks the feast of St. Jerome, the Bible translator who is considered the patron saint of translators.

Note: International Federation of Translators President: Kevin Quirk; International Federation of Translators Secretary-General: Real Paquette.

 

OTHER UPDATES:

 

SPORTS

 

1. ICC launches T20 World Cup anthem: The International Cricket Council has launched the official anthem of the upcoming T20 World Cup along with a campaign film featuring ‘avatars’ of Indian batting maestro Virat Kohli and West Indies skipper Kieron Pollard. The song is composed by Bollywood music director Amit Trivedi, an animated film that features young fans from all over the world engaged in T20I cricket and includes some of the sport’s biggest superstars. The tournament will begin on October 17 in Oman and UAE, with the final to be played in Dubai on November 14.

About the song: India captain Kohli leads the group of players brought to life as ‘avatars’ in the animation, that interact with each other throughout. Kohli is joined by fellow captain Pollard of the reigning champions, West Indies as well as Australian all-rounder Glenn Maxwell and Rashid Khan of Afghanistan. Launched in collaboration with ICC’s global broadcast partner Star Sports, the film premiers worldwide on Thursday across ICC, BCCI, and Star Sports’ social media handles.

 

BANKING AND FINANCE

 

1. RBI removes Indian Overseas Bank from Prompt Corrective Action framework: Reserve Bank of India has announced the removal of Prompt Corrective Action (PCA) restrictions on Indian Overseas Bank (IOB). This decision gives the bank more freedom for lending, especially to corporations and grow the network, subject to prescribed norms. IOB was placed under PCA in 2015. The bank has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments. IOB is being tipped as a privatisation candidate. In 2021, RBI has also removed PCA restrictions on IDBI Bank and UCO Bank.

Note: Indian Overseas Bank Headquarters: Chennai; Indian Overseas Bank CEO: Partha Pratim Sengupta; Indian Overseas Bank Founded: 10 February 1939.

 

AWARDS AND HONOURS

 

1. Yemeni humanitarian organization wins Nansen Refugee Award 2021: A humanitarian organization from Yemen has been declared as the winner of the 2021 UNHCR Nansen Refugee Award. The organisation named “Jeel Albena Association for Humanitarian Development”, founded in 2017 by Ameen Jubran has won the prestigious honour to support and provide a lifeline to tens of thousands of Yemenis people displaced by the country’s conflict.

About the award: The UNHCR Nansen Refugee Award honours individuals, groups or organizations for going above and beyond the call of duty to protect refugees, other displaced and stateless people.

 

DEFENCE

 

1. Ministry of Defence inks deal with Airbus Defence & Space, Spain for 56 C-295MW transport aircraft for IAF: The Ministry of Defence (MoD) has signed a $2.5 billion contract with Airbus Defence and Space, Spain, for the acquisition of 56 Airbus C-295 medium transport aircraft for the Indian Air Force. The C-295 aircrafts  will replace the ageing Avro HS-748 aircraft fleet of Indian Air Force (IAF). Under the deal, Airbus Defence and Space will work with Tata Advanced Systems Limited (TASL) to jointly execute the project. The first 16 aircraft in the deal will be delivered in fly-away condition while the remaining 40 will be assembled in India by Tata Advanced Systems Limited (TASL), as part of an industrial partnership between Airbus and TASL. The IAF will be the 35th operator of the C-295 worldwide. 

Daily GK Update- 29th Sept, 2021

 

NATIONAL UPDATES:

 

1. Hardeep Singh Puri launches 7th edition of Swachh Survekshan: Union Housing and Urban Affairs Minister, Hardeep Singh Puri has launched the 7th edition of Swachh Survekshan 2022. The seventh edition of the annual cleanliness survey in the urban areas, under which district rankings have been introduced for the first time. The voice of senior citizens and young adults will also be given priority. This survey will create a level playing field for smaller cities by introducing 2 population categories:-under 15,000 & btw 15,000-25,000. The scope of the survey has been expanded to now cover 100 per cent wards for sampling as compared to 40 per cent in previous years, according to the ministry. The Mission is also committed to continuously engage with citizens to improve the quality of public sanitation infrastructure and services. To this end, the ‘Sarvajanik Shauchalay Safai Jan Bhagidari Utsav’ will be facilitated to assess the quality of community and public toilets and capture citizen feedback for process improvement in future.

 

2. Sojat Mehndi and Judima rice wine gets GI tag: Judima, homemade rice wine from Assam and Sojat Mehndi (Henna) from Rajasthan, has been awarded the geographical indication (GI) tag. A GI tag is awarded to products associated with a specific geographical origin. Award of a GI sign not only helps in tracing the origins of products but also helps in confirming authenticity and marketing of indigenous specialities.

About the Judima: Judima is a local fermented drink made with rice, brewed by the Dimasa community in Assam. It derives its name from the words Ju which means wine and Dima means ‘belonging to the Dimasa’. It is the first traditional brew in all of the northeast to bag GI tag.

About the Sojat Mehendi: Sojat Mehendi, originating from Mehendi leaves grown in Sojat, is naturally cultivated using rainwater. Sojat tehsil of the Pali district in Rajasthan has a suitable geological structure, topography and drainage system, climate and soil for naturally cultivating the mehndi leave crop.

 

3. CavinKare CMD CK Ranganathan named as new AIMA president: Chairman & managing director CavinKare Pvt Ltd, CK Ranganathan has been appointed president of All India Management Association (AIMA) for a period of one year till the National Management Convention is held in September 2022. He takes over from Harsh Pati Singhania, vice chairman & managing director, JK Paper Ltd. Under his leadership, technology will drive AIMA”s services and the new initiatives would include face recognition tools for admission and recruitment testing services and remotely proctored semester examination for education institutes.

About the AIMA: AIMA is the national apex body of the management profession in India. It works closely with industry, government, academia and students to further the cause of the management profession in India.

 

4. Lt Gen Gurbirpal Singh takes charge as DG of NCC: Lieutenant General Gurbirpal Singh has taken charge as the 34th Director-General of the National Cadet Corps (NCC). He succeeds Lt Gen Tarun Kumar Aich. He was commissioned into the PARACHUTE REGIMENT in 1987. An alumnus of the National Defence Academy, Khadakwasla, Indian Military Academy, Dehradun as well as NCC, he attended the Defence Services Staff College in Wellington and the National Defence College Course in New Delhi. Lt Gen Singh has been a Company Commander in the counter-insurgency environment in Nagaland and the Siachen Glacier.

Note: NCC Founded: 16 April 1948; NCC Headquarters: New Delhi.

 

INTERNATIONAL UPDATES:

 

1. India to bag IAEA external auditor job: India has been elected as the external auditor to the International Atomic Energy Agency (IAEA), a prestigious institution that promotes peaceful use of nuclear energy, for a period of six years from 2022 to 2027 after beating Germany and the United Kingdom among other counties. India’s comptroller and auditor general GC Murmu was selected as the external auditor of IAEA and the ministry of external affairs (MEA).

In the first round of voting for the post, Germany got 36 votes, India 30, the UK eight, Russia 11, Turkey 9, Egypt 20, Republic of Korea 2 and the Philippines 7 votes. The second round boiled down to the race between India and Germany with India managing to beat the European country.

Note: IAEA Headquarters: Vienna, Austria; IAEA Founded: 29 July 1957.

 

2. 4th Indo-US Health Dialogue Held in New Delhi: Union Minister of State for Health and Family Welfare Dr Bharati Pravin Pawar has led the Indian delegation at the 4th Indo-US Health Dialogue, held in New Delhi. The US delegation for the dialogue is led by Ms Loyce Pace, Director, Office of Global Affairs at U.S. Department of Health and Human Services (HHS). The two-day Dialogue is a platform to deliberate upon multiple ongoing collaborations in the health sector between the two countries. About the Dialogue:

(1) The two-day Dialogue will be leveraged as a platform to deliberate upon multiple ongoing collaborations in the health sector between the two countries.

(2) The issues planned for deliberations in this round also encompass areas of concern pertaining to strengthening of epidemiological research and surveillance, vaccine development, One Health, zoonotic and vector-borne diseases, health systems and health policies etc.

(3) An MoU was finalised between the Ministry of Health and Family Welfare of the Republic of India and the Department of Health and Human Services of the United States of America, in the field of the health sector, covering issues like Health Safety and Security; Communicable Diseases & Non-Communicable Diseases; Health Systems; and Health Policy.

 

3. World Heart Day: 29th September: World Heart Day is observed on 29th September annually to draw people’s attention to heart illness and the range of associated health issues. The day which is celebrated annually creates awareness of Cardiovascular Disease (CVD) including heart disease & stroke and highlights the preventive and control measures. The theme for World Heart Day 2020: “Use Heart To Beat Cardiovascular Disease”.

Note: World Heart Federation Founded: 2000; World Heart Federation Headquarters location: Geneva, Switzerland; World Heart Federation Chairman: Rajeev Gupta.

 

4. International Day of Awareness of Food Loss and Waste: 29th September: International Day of Awareness of Food Loss and Waste is celebrated on September 29, since 2020, to promote and implement global efforts to resolve the issue of food wastage. The United Nations General Assembly designated 29 September as the International Day of Awareness of Food Loss and Waste in 2019. The theme for 2021 is Stop food loss and waste. For the people. For the planet. The main objective of this day is to take steps towards responsible consumption and production as well as zero hunger, along with working towards addressing the problem of climate change through sustainable food habits.

History: In 2019, the 74th United Nations General Assembly designated 29 September as the International Day of Awareness of Food Loss and Waste, recognizing the fundamental role that sustainable food production plays in promoting food security and nutrition.

 

OTHER UPDATES:

 

SPORTS

 

1. Rohit Sharma first to score 1,000 runs against one team in IPL: Rohit Sharma became the first batter in the Indian Premier League (IPL) history to score 1000 runs against a single team during Mumbai Indians’ (MI) contest against Kolkata Knight Riders (KKR) at the Sheikh Zayed Stadium, Abu Dhabi. The 34-year-old achieved the feat in the fourth over of MI’s innings. Rohit now has 1015 runs against KKR at an average of 46.13 and a strike rate of 132.16, including six fifties and one hundred.

 

2. US beats Europe Won Ryder Cup golf tournament: The United States has clinched the 2021 Ryder Cup after rookie Collin Morikawa secured the final half-point to get to a 19-9 victory, which is the largest margin of victory in Ryder Cup history since the 28-point format came about. It’s the first time since 1979 and 1983 that Team USA won back-to-back home Ryder Cups after winning in 2016 at Hazeltine. The Americans lost in 2018 in France and seven of the last 10 Ryder Cups against Europe, so a dominant 2021 victory could change the tide in the rivalry.

 

BANKING AND FINANCE

 

1. RBI imposes 2 cr penalty on RBL Bank for deficiencies in regulatory compliance: The Reserve Bank of India (RBI) has imposed a penalty of Rs 2 crore on RBL Bank for non-compliance with provisions of the Banking Regulation Act, 1949. RBI said the penalty has been imposed in exercise of powers vested in it under the provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Act. An examination carried out by the RBI showed that the private lender was non-compliant in opening five savings deposit accounts for a cooperative bank.

The Reserve Bank of India (RBI) also fined the Jammu and Kashmir (J&K) State Co-operative Bank, Srinagar with an Rs 11 lakh penalty for inadequacy in regulatory adherence. According to the report, contravention of section 23 read with section 56 of the Banking Regulation Act, 1949 as the J&K State Co-operative Bank had opened branches without getting a prior nod from RBI.

Note: RBL Bank Founded: August 1943; RBL Bank Headquarters: Mumbai; RBL Bank MD & CEO: Vishwavir Ahuja.

 

BUSINESS AND ECONOMY

 

1. Mastercard ropes Chess Champion Magnus Carlsen as its Global Ambassador: The financial services company, Mastercard Inc. has named Magnus Carlsen, the highest-rated chess player of all time, as its global brand ambassador. This step is part of a move by Mastercard for adding chess in its coveted list of sports sponsorship. It has joined the Meltwater Champions Chess Tour as an official partner, in its first sponsorship move into chess. The Norwegian chess Grandmaster Magnus Carlsen joins the like of other competitive players lineup of ambassadors like Lionel Messi, Naomi Osaka, Crystal Dunn and Dan Carter.

Note: Mastercard Headquarters: New York, United States; Mastercard President: Michael Miebach.

 

2. MCA extends the tenure of Company Law Committee by 1 year: The Ministry of Corporate Affairs (MCA) has once again extended the tenure of the Company Law Committee by one year until September 16, 2022. Corporate affairs secretary Rajesh Verma is the present chairperson of the committee. The committee was constituted in 2019 and has a total of 11 members. The committee was set up to suggest measures to improve the functioning of the National Company Law Tribunal (NCLT), make recommendations on issues pertaining to the implementation of the Companies Act and Limited Liability Partnership Act. The tenure of the panel was extended in 2020 also, till September 17, 2021.

 

AWARDS AND HONOURS

 

1. 2021 Shanti Swarup Bhatnagar winners announced: Shanti Swarup Bhatnagar Prize for science and technology 2021, were announced during the 80th foundation day of the Council for Scientific and Industrial Research (CSIR). Every year, CSIR presents this award to scientists below 45 years of age for their contributions in biology, chemistry, mathematics, physics, medicine, engineering and earth, atmosphere, ocean and planetary sciences. The award comprises a cash prize of Rs 5 lakh. Here is the list of 11 scientists awardees:

Biological Sciences category:

(1) Dr Amit Singh, department of microbiology and cell biology, Indian Institute of Science, Bengaluru.

(2) Dr Arun Kumar Shukla, department of biological sciences and bioengineering, Indian Institute of Technology Kanpur.

Chemical sciences category:

(1) Two researchers from the Jawaharlal Nehru Centre for Advanced Scientific Research, Bengaluru, Dr Kanishka Biswas from the International Centre of Materials Science and Dr T Govindaraju, from the Bio-organic Chemistry Laboratory, announced as recipients.

Earth, Atmosphere, Ocean and Planetary Sciences category:

(1) Dr Binoy Kumar Saikia from Coal and Energy Research Group, CSIR North East Institute of Science and Technology, Jorhat, was named recipient.

Engineering sciences category:

(1) Dr Debdeep Mukhopadhyay, Department of Computer Science and Engineering, Indian Institute of Technology Kharagpur, received the award under the engineering sciences category.

Mathematical sciences category:

(1) Dr Anish Ghosh, school of mathematics, Tata Institute of Fundamental Research, Mumbai.

(2) Dr Saket Saurabh, The Institute of Mathematical Sciences, Chennai.

Medical sciences:

(1) Dr Jeemon Panniyammakal, Achutha Menon Centre for Health Science Studies, Sree Chitra Tirunal Institute for Medical Sciences and Technology, Thiruvananthapuram.

(2) Dr Rohit Srivastava, department of biosciences and bioengineering, Indian Institute of Technology Bombay.

Physical sciences:

(1) Dr Kanak Saha, from Pune’s Inter-University Centre for Astronomy and Astrophysics, received the award for physical sciences.