Daily GK Update- 10th Oct, 2021

 

NATIONAL UPDATES:

 

1. PM Narendra Modi dedicates to nation 35 PSA Oxygen Plants: Prime Minister Narendra Modi dedicated 35 Pressure Swing Adsorption (PSA) Oxygen Plants to the nation through video-conferencing, during an event at AIIMS Rishikesh, Uttarakhand. These 35 PSA Oxygen Plants have been established under PM CARES, across 35 States and Union Territories. Now all districts of the country will now have commissioned PSA Oxygen Plants. As per the data, a total of 1,224 PSA oxygen plants have been funded under the PM-CARES (Prime Minister’s Citizen Assistance and Relief in Emergency Situation) fund across the country till date and of these, more than 1,100 plants have already been commissioned providing an output of over 1,750 MT oxygen per day.

 

2. Centre organises ‘Buddhist Circuit Train FAM Tour and Conference’: Union Minister of State for Tourism, Ajay Bhatt has flagged off the “Buddhist Circuit Train FAM Tour” from Safdarjung railway station (part of Delhi Suburban Railways). Ministry of Tourism in association with the Indian Railway Catering & Tourism Corporation (IRCTC) has organized the Buddhist Circuit Train FAM Tour as part of the Union government’s “Dekho Apna Desh” initiative. The tour will cover the visit of prominent Buddhist sites and conferences at Bodhgaya and Varanasi. The event is likely to be attended by around 125 delegates including tour operators, hoteliers, media and officials of the Ministry of Tourism and state governments.

 

3. Mukesh Ambani tops Forbes India Rich List 2021: The Reliance Industries Limited (RIL) Chairman Mukesh Ambani has topped the Forbes India Rich list for 2021, released. The list ranks India’s 100 richest Indians. He has retained his position as the wealthiest Indian for the 14th consecutive year on the Forbes India list, since 2008. The tycoon added $4 billion to his net worth in 2021, to bring his total fortune to $92.7 billion. The total fortune of Forbes India 100 Richest Indian in 2021 is recorded at US$775 billion. India’s 100 richest are now worth $775 billion. The second spot has been retained by Adani Group Chairman Gautam Adani, with a net worth of $74.8 billion. Tech tycoon Shiv Nadar acquired the third spot with net worth of $31 billion.

 

4. PL Haranadh takes charge as Chairman of Paradip Port Trust: P L Haranadh, an Indian Railway Traffic Service (IRTS) officer of the 1994 batch, has been appointed as the new Chairman of Paradip Port Trust (PPT). Haranadh has worked in various capacities, during his 27 years of service, which includes 22 years in the Indian Railways and 5 years in the Ministry of Shipping. Paradip Port Trust (PPT) is the lone major port in Odisha.

Note: Paradip Port Trust Headquarters: Paradip, Odisha; Paradip Port Trust Opened: 12 March 1966.

 

5. E. R. Sheikh becomes first Director General of the Ordnance Directorate: E.R. Sheikh has assumed charge as first Director-General of the Ordnance Directorate (Co-ordination and Services). It is the successor organization of the Ordnance Factory Board (OFB). He has contributed to the establishment of the modern production line system for the manufacture of small arms ammunition at the Ordnance Factory Varangaon. He led the successful development of the Bi-Modular Charge System for artillery ammunition.

 

6. A book title “Economist Gandhi” by Jaithirth Rao: Indian Entrepreneur and writer Jaithirth Rao, popularly known as Jerry Rao, has come out with a book on Mahatma Gandhi titled “Economist Gandhi: The Roots and the Relevance of the Political Economy of the Mahatma”. Jaithirth Rao is the founder and former CEO of the software company Mphasis. The book examines Mahatma Gandhi’s economic philosophy and his hidden facet personality- thoughts on economics and capitalism. The book has been published by the Penguin Random House India.

 

7. National Postal Day: 10th October: In India, the National Postal Day is celebrated annually on 10 October, as an extension of World Post Day, which is celebrated on 9 October. The Day aims to commemorate the role played by the Indian postal department for the past 150 years, which was founded in 1854 by Lord Dalhousie. Indian postal service is an integral part of India. The postal services in India have given the best performance despite the diversity in culture, tradition and difficult geographical terrains.

India’s PIN Code system: PIN in Pincode stands for Postal Index Number. The 6-digit PIN system was introduced by Shriram Bhikaji Velankar, an additional secretary in the Union Ministry of Communications on 15 August 1972. The first digit of the PIN code marks the region. The second digit denotes the sub-region. The third digit marks the district. The last three digits show the post office under which a particular address falls.

Note: Indian Post Secretary: Vineet Pandey; Indian Post Headquarters: New Delhi.

 

INTERNATIONAL UPDATES:

 

1. World Mental Health Day: 10th October: World Mental Health Day is observed every year on 10 October globally for global mental health education, awareness and advocacy against social stigma. The overall objective of World Mental Health Day is to raise awareness of mental health issues around the world and to mobilize efforts in support of mental health. The theme for World Mental Health Day 2021 is ‘Mental health in an unequal world’.

History and Significance of World Mental Health Day: World Mental Health Day was first observed on October 10, 1992, as an annual activity of the World Federation for Mental Health. The Day provides an opportunity for all stakeholders working on mental health issues to talk about their work, and what more needs to be done to make mental health care a reality for people worldwide.

 

2. World Day Against the Death Penalty: 10th October: The World Day Against the Death Penalty is observed every year on 10 October. It is a day to advocate for the abolition of the death penalty and to raise awareness of the conditions and the circumstances which affect prisoners with death sentences. The theme for 2021 is “Women Sentenced to Death: An Invisible Reality.”

History of the day: The day was first organised by the World Coalition Against the Death Penalty in 2003. 2021 marks the 19th World Day Against the Death Penalty.

 

OTHER UPDATES:

 

SPORTS

 

1. ISSF Junior Championships: Aishwary Pratap Singh Tomar wins gold: Young Indian shooter, Aishwary Pratap Singh Tomar smashed the world record in the final to win gold in the men’s 50m rifle 3 positions event at the ISSF Junior World Championships in Lima, Peru. The youngster then bettered the junior world record in the final with a score of 463.4, finishing nearly seven points ahead of second-placed Frenchman Lucas Kryzs, who won the silver with a score of 456.5. Gavin Barnick of the USA won bronze with a score of 446.6.

 

2. Indian hockey players sweep FIH Stars Awards: Indian hockey players swept the 2020-21 edition of the FIH Stars Awards, the international hockey federation (FIH) announced. The winners were decided based on an online poll conducted from August 23 to September 15 which saw national associations, represented by their respective national captains and coaches, players, media and hockey fans cast their votes.

Votes from national associations counted for 50 per cent of the overall result, while fans and players (25 per cent) as well as media (25 per cent), accounted for the other half.

FIH Stars Awards 2020-21: Winners list:

Player of the Year: Harmanpreet Singh (men) and Gurjit Kaur (women)

Goalkeeper of the Year: PR Sreejesh (men) and Savita Punia (women)

Rising Star of the Year: Vivek Sagar Prasad (men) and Sharmila Devi (women)

Coach of the Year: Graham Reid (men) and Sjoerd Marijne (women)

 

BANKING AND FINANCE

 

1. RBI Monetary Policy: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged in the fourth bi-monthly policy meet for the financial year 2021-22 headed by RBI Governor Shaktikanta Das has maintained the status quo. The Monetary Policy Committee kept the repo rate unchanged at 4 per cent. The reverse repo rate will continue to be 3.35 per cent. The meeting was held between October (6 to 8). The remaining will take place in December (6 to 8) and February (7 to 9, 2022).

Policy Repo Rate: 4.00%

Reverse Repo Rate: 3.35%

Marginal Standing Facility Rate: 4.25%

Bank Rate: 4.25%

CRR: 4%

SLR: 18.00%

RBI Monetary Policy Highlights & Key Decisions:

(1) FY22 GDP growth forecast maintained at 9.5%.

(2) CPI inflation is projected at 5.3% for the current fiscal year.

(3) Bond purchases under G-SAP stopped.

(4) Open market operations to continue as needed.

(5) Internal ombudsman plan for non-bank lenders.

(6) On-tap special LTRO of 3 years worth Rs 10,000 crore for small businesses extended till Dec 31.

(7) Framework planned for retail digital payments in offline mode.

(8) Immediate Payment Service (IMPS) limited upped from Rs 2 lakh to Rs 5 lakh

(9) No compulsion for banks to park money in variable reverse repo rate (VRRR).

 

The composition of the Monetary Policy Committee is as follows:

(1) Governor of the Reserve Bank of India – Chairperson, ex officio: Shri Shaktikanta Das.

(2) Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy– Member, ex officio: Dr Michael Debabrata Patra.

(3) One officer of the Reserve Bank of India to be nominated by the Central Board – Member, ex officio: Dr Mridul K. Saggar.

(4) A professor at the Mumbai-based Indira Gandhi Institute of Developmental Research: Prof. Ashima Goyal.

(5) A professor of finance at the Indian Institute of Management in Ahmedabad: Prof. Jayanth R Varma.

(6) An agricultural economist and a senior adviser with the National Council of Applied Economic Research in New Delhi: Dr Shashanka Bhide.

 

BUSINESS AND ECONOMY

 

1. World Bank Projects Indian GDP to grow at 8.3% in FY22: The World Bank has estimated India’s real Gross Domestic Product (GDP) in the current fiscal year 2021-22 to grow by 8.3% in its latest economic update for South Asia. India’s economy, South Asia’s largest, is expected to grow by 8.3 per cent in the fiscal year 2021-22, aided by an increase in public investment and incentives to boost manufacturing,”. The World Bank said in its update on South Asia, titled ‘Shifting Gears: Digitization and Services-led Development.

The GDP growth projection for India in three fiscal years as per World Bank is as follows:

2021-22 (FY22): 8.3%

2022-23 (FY23): 7.5%

2023-24 (FY24): 6.5%

 

2. Fitch cuts India’s FY22 GDP growth forecast to 8.7%: Fitch Ratings has cut India’s economic growth forecast to 8.7% for the current fiscal but raised GDP growth projection for FY23 to 10%, saying the second COVID-19 wave delayed rather than derail the economic recovery.

Fitch Ratings said India’s ‘BBB-/Negative’ sovereign rating “balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors”.

 

AWARDS AND HONOURS

 

1. Karnataka Vikas Grameena Bank bags two national awards: Karnataka Vikas Grameena Bank (KVGB), sponsored by Canara Bank, has bagged two national awards (‘APY Big Believers’ and ‘Leadership capital’) for significant enrolment under the Atal Pension Yojana (APY) from the Pension Fund Regulatory and Development Authority (PFRDA). KVGB Chairman P. Gopi Krishna received awards from PFRDA Chairman Supratim Bandopadhyay. KVGB is playing a pivotal role in implementing all three social security schemes (PMJJBY, PMSBY and APY) launched by the Central government. KVGB has a business turnover of ₹28,410 crores with a clientele base of nearly 90 lakh in nine districts – Dharwad, Gadag, Haveri, Belagavi, Vijayapura, Bagalkot, Uttara Kannada, Udupi and Dakshina Kannada – of Karnataka.

Note: Karnataka Vikas Grameena Bank founded: September 12, 2005; Karnataka Vikas Grameena Bank Headquarters: Dharwad, Karnataka; Karnataka Vikas Grameena Bank Chairman: Puttaganti Gopi Krishna.

 

Daily GK Update- 9th Oct, 2021

 

NATIONAL UPDATES:

 

1. Centre approves setting up 7 PM MITRA Parks in 5 years: The Centre has approved the setting up of seven new mega textile parks, or PM MITRA parks across the country in an effort to help furthering the growth of the textile sector in the economy and position India strongly on the Global textiles map. The Mega Integrated Textile Region and Apparel Parks (PM MITRA) will be based on the 5F vision of the Hon’ble Prime Minister. The ‘5F’ Formula consists of Farm to fibre; fibre to factory; factory to fashion; fashion to foreign. These parks will be set up at Greenfield and Brownfield sites in different States by a Special Purpose Vehicle which will be owned by the State Government and Government of India in a Public-Private Partnership (PPP) Mode. The total outlay for the project has been set at Rs 4,445 crore for five years.

 

2. Andhra government launched ‘Swechha’ programme: Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy has launched the ‘Swechha’ program to tackle the stigma attached to menstruation, prioritize female personal hygiene, and encourage a healthy dialogue of information. ‘Swechha’ (meaning freedom) is intended to ensure affordable access to health and menstrual hygiene in adolescent girls and women. Under the initiative:

(1) The state government will provide good quality branded sanitary napkins to female students at government educational institutions free of cost.

(2) Ten sanitary napkins will be given every month to about 10 lakh adolescent girls studying from 7th-12th grades in all government schools and intermediate colleges across the state at a financial outlay of INR 32 crores.

(3) A total of 120 napkins per year is allotted to every female student, even during summer vacations, the students will be supplied with their quota before they leave school.

Note: Chief Minister of Andhra Pradesh: YS Jagan Mohan Reddy; Governor: Biswa Bhusan Harichandan.

 

3. India’s first e-fish market App Fishwaale launched in Assam: Assam Minister for Fisheries, Environment and Forest and Excise, Parimal Suklabaidya launched an App Fishwaale, India’s first e-fish market. Table size fish such as bhangon, mrigal and rohu and freshwater and seawater frozen fish (icebox) will be available coupled with dry fish packets, dry fish raw, fish pickles and processed fish products. Developed by Aqua Blue Global Aquaculture Solutions Pvt. Ltd. in collaboration with the fisheries department at a function held at Sri Madhabdev Bhawan auditorium, the minister called the app “a one-stop solution for aquaculture” that will help both the buyers and sellers. This platform will help the fish farming community get a reasonable price for their produce and lead to the elimination of middlemen.

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

 

4. Palghar’s famed Wada Kolam rice gets GI tag: A variety of rice widely grown in Wada in the Palghar district has been given a ‘Geographical Indication’ tag, which will give it a unique identity as well as wider markets. Wada Kolam, also known as Zini or Jhini rice, is a traditional variety grown in the Wada tehsil of Palghar, with the grain being off white in colour. Wada Kolam rice commands a price of Rs 60-70 per kg in domestic markets and has a sizeable demand overseas as well. Wada Kolam has been grown in Palghar for years. It is known for its small grain, aroma, taste and for being light for digestion. It is gluten-free. However, it is a low yielding crop.

 

5. Health Minister released “The State of the World’s Children 2021” report: Union Health Minister Mansukh Mandaviya has released UNICEF’s global flagship publication “The State of the World’s Children 2021; On My Mind: promoting, protecting and caring for children’s mental health in New Delhi. The report details the significant impact of COVID-19 pandemic on children’s mental health. UNICEF India Representative Dr Yasmin Ali Haque presented some key findings of the report. As per the report, around 14 per cent of 15 to 24-year-olds in India, or 1 in 7 of them, reported often feeling depressed or having little interest in doing things.

 

INTERNATIONAL UPDATES:

 

1. India slips 6 ranks on Henley Passport Index 2021: India’s rank has slipped by six places from last year to 90 on the Henley Passport Index 2021, which lists the world’s most travel-friendly passports Japan and Singapore hold the first rank on the passport index. The index covers 227 destinations and 199 passports. The index comes at a time when countries are easing travel restrictions for international visitors after almost two years since the outbreak of the COVID-19 pandemic. The rankings are based on the survey of the International Air Transport Association (IATA) data.

Top 5 countries in the Index:

Rank 1: Japan, Singapore

Rank 2: Germany, South Korea

Rank 3: Finland, Italy, Luxembourg, Spain

Rank 4: Austria, Denmark

Rank 5: France, Ireland, Netherlands, Portugal, Sweden

World’s 5 least powerful passports: Afghanistan; Iraq; Syria; Pakistan; Yemen

 

2. World Migratory Bird Day 2021: 9th October: Every year, World Migratory Bird Day (WMBD) is officially celebrated twice in a year since it started in 2006. Firstly it is held on the Second Saturday of May and again on the Second Saturday of October. In 2021, the WMBBD falls on May 08, 2021, and October 09, 2021. The theme for 2021 WMBD is “Sing, Fly, Soar – Like a Bird!”. The day is observed to spread awareness for the need to conserve migratory birds and their habitats. The day is organized by a collaborative partnership among two UN treaties namely the Convention on Migratory Species (CMS) and the African-Eurasian Migratory Waterbird Agreement (AEWA) and the Colorado-based non-profit organization, Environment for the Americas (EFTA).

 

3. World Post Day: 9th October: World Post Day is celebrated each year on October 9 globally. The purpose of World Post Day is to create awareness of the role of the postal sector in people’s and businesses’ everyday lives and its contribution to the social and economic development of countries. The theme of 2021 World Post Day is “Innovate to recover.”

History of World Post Day: World Post Day is celebrated each year on 9 October, the anniversary of the establishment of the Universal Postal Union in 1874 in the Swiss Capital, Bern. It was declared World Post Day by the UPU Congress held in Tokyo, Japan in 1969. Since then, countries across the world participate annually in the celebrations. Posts in many countries use the event to introduce or promote new postal products and services.

Note: Universal Postal Union Headquarters: Bern, Switzerland; Universal Postal Union Director-General; Masahiko Metoki; Universal Postal Union Founder: Heinrich von Stephan; Universal Postal Union Founded: 9 October 1874.

 

OTHER UPDATES:

 

SPORTS

 

1. Naamya Kapoor clinches gold medal in Women’s 25-metre Air Pistol event of ISSF Junior World Championship: India’s 14-year-old shooter Naamya Kapoor clinched the gold medal in the women’s 25-metre air pistol event of the ISSF Junior World Championship in Lima, Peru. The teenager finished on the top step of the podium ahead of celebrated compatriot Manu Bhaker who won the bronze medal. Kapoor shot 36 in the finals to claim the top prize ahead of France’s Camille Jedrzejewski with 33 and 19-year-old Olympian Bhakar with 31, who has already won three gold medals so far in the tournament. Another Indian shooter, Rhythm Sangwan finished fourth in the final. India lead standings with seven gold, six silver and three bronze for a total of 16 medals.

 

2. Germany unveils Euro 2024 championship logo: Germany has unveiled the logo for soccer’s 2024 European Championship during a ceremony with a light show in the stadium that will hold the final. The logo features an outline of the Henri Delaunay Cup — the bulbous tournament trophy — set on a coloured oval outline that resembles the Olympiastadion’s roof. It features colours from the flags of UEFA’s 55 member nations, set in 24 slices around the trophy to represent the 24 teams that will ultimately qualify for the tournament in Germany. Logos for each of the 10 host cities; Berlin, Cologne, Dortmund, Düsseldorf, Frankfurt, Gelsenkirchen, Hamburg, Leipzig, Munich and Stuttgart were also presented. The tournament is due to be played in June and July 2024 with the match schedule to be confirmed next year.

 

BANKING AND FINANCE

 

1. RBI grants license to NARCL under Sarfaesi Act: The Reserve Bank of India (RBI) has granted the National Asset Reconstruction Company (NARCL) the licence to register as an asset reconstruction company (ARC). The Licence is given under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.

As per Section 3 of the SARFAESI Act, a company can carry the business of asset reconstruction only after obtaining a certificate of registration from RBI and, having the owned fund of not less than Rs 2 crore or such other amount not exceeding 15% of total financial assets acquired or to be acquired by the securitisation company or reconstruction company. The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 per cent in NARCL.

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

 

BUSINESS AND ECONOMY

 

1. BharatPe launches ‘buy now, pay later’ platform, postpe: Fintech company BharatPe, announced its entry into the ‘Buy Now Pay Later’ (BNPL) category with the launch of ‘postpe’. The new platform provides credit to customers to buy now, but pay later from anywhere. Customers using the postpe platform can download the app from Play Store and avail interest-free credit limit of up to Rs 10 lakh. The company said that postpe is not only limited to big-ticket purchases but can also be used for micro-purchases, making it the first of its kind.

About the BharatPe: BharatPe stated that it aims to facilitate a loan book of $300 million on postpe in the first 12 months for its lending partners. The fintech company added that customers can shop across offline as well as online and repay easily through EMIs. All a customer has to do is scan the QR code through the postpe app and pay using credit. Users can also pay through a postpe card that will be accepted across millions of offline as well as e-commerce platforms. Cashbacks and rewards are also on offer.

Note: Chief Executive Officer of BharatPe: Ashneer Grover; Headoffice of BharatPe: New Delhi; BharatPe Founded: 2018.

 

AWARDS AND HONOURS

 

1. The Nobel Peace Prize 2021 announced: The Norwegian Nobel Committee has decided to award the 2021 Nobel Peace Prize to Maria Ressa and Dmitry Muratov “for their efforts to safeguard freedom of expression, which is a precondition for democracy and lasting peace”. Maria Ressa uses freedom of expression to expose abuse of power, use of violence and growing authoritarianism in her native country, the Philippines. Dmitry Muratov has for decades defended freedom of speech in Russia under increasingly challenging conditions.

The Norwegian Nobel Committee is convinced that freedom of expression and freedom of information are crucial prerequisites for democracy and protection against war and conflict. The 2021 peace prize laureates are representative of all journalists who stand up for this ideal in a world in which democracy and freedom of the press face increasingly adverse conditions.

Daily GK Update- 8th Oct, 2021

 

NATIONAL UPDATES:

 

1. Centre launches ICMR’s drone-based vaccine delivery model ‘i-Drone’: The Union Minister for Health and Family Welfare, Mansukh Mandaviya, launched ‘i-Drone’, a drone-based vaccine delivery model for Northeast states. The i-Drone has been developed by the Indian Council of Medical Research (ICMR). i-Drone stands for ICMR’s Drone Response and Outreach in North East. The main objective of this tool is to facilitate vaccine delivery to tough and hard-to-reach terrains of India, and to improve healthcare accessibility to the last mile. Currently, the drone-based delivery project is being implemented in Manipur, Nagaland, and the union territory of Andaman and Nicobar Island. ICMR collaborated with the Indian Institute of Technology, Kanpur for conducting an initial study to test the capacity of drones to carry and transfer vaccines safely.

 

2. Govt extends Credit Guarantee Scheme for Subordinate Debt upto 31st of March 2022: Government has extended the Credit Guarantee Scheme for Subordinate Debt upto 31st of March next year. Ministry of Micro, Small and Medium Enterprises said, the government had announced creation of Distressed Assets Fund – Subordinate Debt for Stressed MSMEs’ on 13th May last year under the Atma Nirbhar Bharat Package. In order to keep the avenues of assistance to stressed MSME Units open, the Government had earlier decided to extend this scheme for six months from 31 March this year to 30th September.

 

3. Assam CM Himanta Biswa Sarma launches Mission Basundhara: Assam Chief Minister Himanta Biswa Sarma launched ‘Mission Basundhara’ at a programme organised by the Revenue and Disaster Management department in Guwahati. The mission is a decisive step towards streamlining land revenue services and facilitating easy access to the public for their land-related work. A total of Rs 225 crore will be spent on the implementation of the programme and the mission will enable the rebuilding of all lost land records of the state.

 

4. GI tagged sweet dish Mihidana has been exported to Baharain: The first consignment of Geographical Indication (GI) tagged sweet dish Mihidana, from Bardhaman, West Bengal has been exported to the Kingdom of Bahrain. This initiative is part of the effort to promote indigenous & Geographical Identification (GI) tagged products of India globally. The product was exported by APEDA registered M/S DM Enterprises, Kolkata. West Bengal’s Bardhaman got the GI tag for the Mihidana sweetmeats in 2017. A GI tag is a sign denoting a specific geographical origin and possesses qualities or a reputation that are due to that origin.

Note: Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.

 

5. Eric Braganza appointed as CEAMA president: The Consumer Electronics and Appliances Manufacturers Association (CEAMA) has appointed Eric Braganza as its president for a two-year term. He succeeds Godrej Appliances Business Head and Executive Vice-President Kamal Nandi for the CEAMA chair. Braganza, an alumnus of Sri Ram College of Commerce, Delhi, has over 35 years and has held senior management positions in the consumer electronics and appliances industry in various companies.

About the CEAMA: Established in 1978, CEAMA represents the consumer electronics and home appliances industry and aims to enhance the development of the industry and its components manufacturing.

 

6. Indian Air Force Day: 8th October: Indian Air Force Day is celebrated every year by the Indian Air Force on the 8th of October. This year Indian Air Force celebrated its 89th anniversary. Indian Air Force was officially established on 8 October 1932 by the British Empire as the Royal Indian Air Force. The name was changed to Indian Air Force in 1950.

History of Indian Air Force Day: The IAF was founded on October 8, 1932, and the force has participated in several crucial wars and landmark missions. It was officially established as an auxiliary air force of the British Empire which honoured India’s aviation service during World War II with the prefix Royal. After India gained independence from the United Kingdom in 1947, the name Royal Indian Air Force was kept and served in the name of Dominion of India. With the government’s transition to a Republic in 1950, the prefix Royal was removed.

Note: Chiefs of Air Staff: Air Chief Marshal Vivek Ram Chaudhari.

 

INTERNATIONALUPDATES:

 

1. India Joins High Ambition Coalition for Nature and People: India officially joined the High Ambition Coalition for Nature and People, a group of more than 70 countries encouraging the adoption of the global goal to protect 30×30. High Ambition Coalition for Nature and People members currently include a mix of countries in the global north and south, European, Latin American, Africa and Asia countries are among the members. India is the first of the BRICS bloc of major emerging economies to join the High Ambition Coalition for Nature and People. This coalition aims to promote an international agreement to protect at least 30 per cent the of world’s land and ocean by 2030.

 

2. World Egg Day 2021: 8th October: World Egg Day is celebrated worldwide on the ‘Second Friday of October’ month each year since 1996. This year’s World Egg Day will take place on Friday 8 October and will mark the 25th anniversary of the event. The 2021 celebration will centre around the brilliant versatility of the egg and its multitude of benefits to people at every stage of life. The theme for 2021 World Egg Day is “Eggs for all: Nature’s perfect package”. World Egg Day was established at Vienna 1996, when it was decided to celebrate the power of the egg on the second Friday in October each year. The day helps to raise awareness of the benefits of eggs and their importance in human nutrition.

 

3. World Investor Week 2021: 4th-10th October: The International Organization of Securities Commissions (IOSCO) is preparing to launch its fifth annual World Investor Week (WIW) from 4 to 10 October 2021. The World Investor Week (WIW) is an initiative promoted by the IOSCO to raise awareness about the importance of investor education and protection and highlight the various initiatives of securities regulators in these two critical areas. The key messages of the IOSCO WIW campaign in 2021 will be based on two themes: 1) sustainable finance and 2) frauds and scams prevention. The IOSCO WIW campaign continues to gain support among a growing number of jurisdictions, stakeholders and major international organizations.

Note: IOSCO Headquarters: Madrid, Spain; IOSCO Secretary General: Paul P. Andrews; IOSCO Founded: April 1983.

 

OTHER UPDATES:

 

SPORTS

 

1. India Lose to Russia in Final but Win 1st-ever Medal at World Women’s Chess Championship: India clinched a silver medal after going down 0-2 to Russia in the final of the FIDE World Women’s Team Chess Championship. After losing the first match 1.5.-2-5 despite a brilliant win for D Harika on the board, the Indians were outclassed 3-1 in the second as a strong Russian team stormed to a title triumph. It was India’s first ever medal in the world team chess championship

 

2. Indian Women Win Team Gold in Skeet, Bronze for Men at ISSF Junior World Championship

Indian shooters claimed the gold medal in the women’s skeet team event and the bronze in the men’s team finals of the ISSF Junior World Championship. The trio of Areeba Khan, Raiza Dhillon and Ganemat Sekhon finished at the top of the podium in the women’s event after shooting an aggregate score of 6. In the gold medal round, the Indian women were pitted against the Italian team of Damiana Paolacci, Sara Bongini and Giada Longhi.

In the men’s section, the Indian team of Rajveer Gill, Ayush Rudraraju and Abhay Singh Sekhon won the bronze medal after prevailing over Turkey’s Ali Can Arabaci, Ahmet Baran and Muhammet Seyhun Kaya 6-0, the same’s scoreline as the women’s gold medal contest.

India are currently place second in the pecking order with two gold, three silver and two bronze for a total of seven medals in the tournament. U.S. tops the chart with seven medals including three gold.

 

3. Nagaland to host 56th National Cross Country Championship in January 2022: Nagaland will be hosting the 56th National Cross Country Championship in January next year. The announcement was made by Associate Vice President of Athletics Federation of India (AFI) Mr. Abu Metha during an interaction with media persons in Kohima. It will be the first ever for the state to host such national athletics events. The state was allotted the event following a bid during the AFI national executive meeting held in Rajasthan recently.

 

BANKING AND FINANCE

 

1. Kotak Bank gets approval from the government to collect direct, indirect taxes: Kotak Mahindra Bank Ltd (KMBL) has received approval from the government for the collection of direct & indirect taxes, such as income tax, Goods and Services Tax (GST) etc, through its banking network. With this, the bank becomes the first scheduled private sector bank to receive approval after the announcement by Finance Minister Nirmala Sitharaman allowing all banks to participate in the government-related business. After technical integration, KMBL customers will be able to pay their direct and indirect taxes straight from KMBL’s mobile banking or net banking platforms as well as through KMBL’s branch banking network, resulting in immense ease and convenience for customers.

Note: Kotak Mahindra Bank Establishment: 2003; Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra; Kotak Mahindra Bank MD & CEO: Uday Kotak; Kotak Mahindra Bank Tagline: Let’s Make Money Simple.

 

2. U GRO Capital and IDBI Bank sign a co-lending agreement: U GRO Capital has signed a co-lending agreement with IDBI Bank, on the occasion of the bank’s 58th Foundation Day. The co-lending arrangement will work towards providing formal credit to underserved MSMEs, at affordable rates. For the same, it will leverage U GRO Capital’s digital technology platform driven by a Data Tripod, which comprises of GST, Banking & Bureau, in addition to the company’s deep sectoral understanding, and multi-channel distribution reach.

 

BUSINESS AND ECONOMY

 

1. Moody’s upgrades India’s rating outlook to ‘stable’ from ‘negative’: Rating agency Moody’s Investors Service has upgraded India’s sovereign rating outlook to ‘stable’ from ‘negative’, on October 05, 2021, following an improvement in the financial sector and faster-than-expected economic recovery across sectors. Moody’s expects real GDP growth to average around 6 per cent over the medium term, reflecting a rebound in activity to levels at potential as conditions normalise.

While it retained India’s rating at Baa3, reflecting the lowest investment grade rating, Moody’s said it expects real GDP to surpass pre-pandemic levels of 2019-20 this year itself, as the ongoing economic recovery is picking up steam with activity upticks broadening across sectors. It expects 2021-22 to record 9.3% growth in GDP, followed by 7.9% next year.

 

AWARDS AND HONOURS

 

1. The Nobel Prize in Literature 2021 announced: The Nobel Prize in Literature 2021 was awarded to Abdulrazak Gurnah born in Zanzibar and active in England, “for his uncompromising and compassionate penetration of the effects of colonialism and the fate of the refugee in the gulf between cultures and continents.” The Nobel Prize in literature is awarded by the Swedish Academy, Stockholm, Sweden.

Abdulrazak Gurnah: The Tanzanian novelist was born in Zanzibar in 1948 and has since lived in the UK and Nigeria. He writes in English, and his most famous novel is Paradise, which was shortlisted for the Booker prize in 1994. Gurnah currently lives in the UK and taught English Literature at the University of Kent. Until recently, he was Professor of English and Postcolonial Literatures at the University of Kent, Canterbury and has published ten novels and a number of short stories.

 

2. Prof Eric Hanushek and Dr. Rukmini Banerji awarded the 2021 Yidan Prize: Professor Eric A. Hanushek and Dr Rukmini Banerji have been awarded the 2021 Yidan Prize for Education Development for improving learning outcomes in schools at scale. Yidan Prize is the world’s highest education accolade, in recognition of their ground-breaking work addressing a crucial piece of the education puzzle: improving quality of education and outcomes for learners at scale. The Yidan Prize was founded by Charles Chen Yidan in 2016 to create a better world through education. Yidan Prize Laureate receives a gold medal and a sum of $3.9 million.

 

OBITUARIES

 

1. Arvind Trivedi, best known for his role as ‘Raavan’ in Ramayan, passes away: Veteran television actor Arvind Trivedi, who is famously known for his iconic role of demon-king Raavan in Ramanand Sagar’s TV serial Ramayan, has passed away. He was 82. He was also part of the political field, as an MP from Sabarkatha constituency in Gujarat, and had served the Parliament from 1991-96. He served as the acting chairman of the Central Board of Film Certification (CBFC) from 2002 to 2003. 

Daily GK Update- 7th Oct, 2021

 

NATIONAL UPDATES:

 

1. Vice President inaugurates Mahabahu Brahmaputra River Heritage Centre: Vice President M Venkaiah Naidu has inaugurated the Mahabahu Brahmaputra River Heritage Centre in the presence of Governor Jagdish Mukhi and Chief Minister Himanta Biswa Sarma in Guwahati in the state of Assam. The centre was originally served as the residence of the British deputy commissioner of Kamrup. Nearly 150 years after it was constructed, the iconic DC Bungalow of Guwahati was opened to the public as a heritage centre.

History of the DC Bungalow: After the British annexed Assam in 1826 (after the Treaty of Yandaboo), the post of DC was created for Guwahati in 1839. Several sites were surveyed for DC residence before Barphukanar Tilla on the banks of the Brahmaputra, where cannons used in the Battle of Saraighat lay scattered, was chosen. Post-independence, it continued to be the DC’s bungalow until 2011.

 

2. PM Modi visits Azadi@75 Expo in Lucknow: Prime Minister Narendra Modi inaugurated ‘Azadi@75 – New Urban India: Transforming Urban Landscape’ Conference-cum-Expo in Lucknow at the Indira Gandhi Pratishthan as a part of Azadi@75 celebrations. The theme of the three-day event is “New Urban India”. It will culminate on October 07, 2021. The Conference-cum-Expo is organised by the Ministry of Housing & Urban Affairs (MoHUA). The Conference-cum-Expo is a platform to showcase the prospective transformative urban missions and highlight the achievements and the flagship urban development missions undertaken in the past 7 years of the Modi government. Key highlights:

(1) PM virtually handed over keys of Pradhan Mantri Awas Yojana – Urban (PMAY-U) houses to 75,000 beneficiaries in 75 districts of Uttar Pradesh and interacted with beneficiaries of the scheme of Uttar Pradesh.

(2) PM inaugurated and laid the foundation stone of 75 urban development projects of the state under Smart Cities Mission and AMRUT.

(3) He flagged off 75 buses under FAME-II for seven cities including Lucknow, Kanpur, Varanasi, Prayagraj, Gorakhpur, Jhansi and Ghaziabad.

(4) PM announced the setting up of Shri Atal Bihari Vajpayee Chair in Babasaheb Bhimrao Ambedkar University (BBAU), Lucknow.

(5) He attended the three exhibitions organised in the Conference-cum-Expo.

 

3. Alibaug white onion gets GI tag for health benefits: The famed white onion of Alibag in Maharashtra’s Raigad district was given the Geographical Indication (GI) tag bringing worldwide recognition to its unique sweet taste, no-tears factor, as well as its medicinal properties. The soil of Alibaug taluka has low sulphur content. The NABL-approved lab test report mentions low pungency, sweet taste, ‘no tear’ factor, low pyruvic acid, high protein, fat & fibre, etc. The agriculture department here and Konkan Agriculture University had jointly submitted the GI application on January 15, 2019. On September 29 this year, the proposal was scrutinised in the Mumbai office of the Registrar of Patents and it was decided to confer GI tag on Alibag’s white onion.

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

 

4. CM Gehlot launches ‘Mukhyamantri Paryatan Udyog Sambal Yojana’: Rajasthan Chief Minister Ashok Gehlot launched ‘Mukhyamantri Paryatan Udyog Sambal Yojana-2021’ to provide relief to the entrepreneurs of the tourism and hospitality sector affected by COVID-19 pandemic. Along with that the Chief Minister also launched a mobile app ‘Rajasthan Tourism Official’ designed to help tourists visiting Rajasthan in making their tour programmes. Beside this, the CM released a collection ofvarious policies, schemes and guidelines issued by the tourism department for tourism development in the state.

 

5. Nagaland to Celebrate Hornbill Festival: With decline in COVID-19 cases, the Nagaland government is gearing up to organise the Hornbill festival this year from December one. The Hornbill festival is an annual tourism promotional event of the Nagaland governmentorganized by the departments of Tourism and Art & Culture showcasing the rich Naga tradition and culture at the Naga Heritage Village, Kisama, about 12 km from the state capital.

 

INTERNATIONAL UPDATES:

 

1. India joins Seychelles’ Tax Inspectors Without Borders programme: The Tax Inspectors Without Borders (TIWB) has launched its programme in Seychelles. India has been chosen as the Partner Administration for this programme. The country will be providing its Tax Expert in support of the initiative. The focus of the 12-month programme will be on Transfer Pricing cases of tourism and financial services sectors. About the TIWB:

(1) TIWB is a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), since its launch in 2015.

(2) The aim of the initiative is to aid countries in strengthening their tax administration by transferring technical know-how and skills to the tax auditors through sharing of best audit practices.

(3) This is the sixth TIWB programme in which India has supported by providing Tax Expert.

 

2. World Cotton Day: 7th October: World Cotton Day (WCD) is observed globally on 7th October. The international day aims to celebrate the advantages of cotton, ranging from its qualities as a natural fibre to the benefits people obtain from its production, transformation, trade and consumption. WCD Day was initiated by the Group of Cotton-4 countries namely Benin, Burkina Faso, Chad and Mali to reflect the importance of cotton as a global commodity.

History of the day: The initiative of World Cotton Day was born in 2019, when four cotton producers in sub-Saharan Africa– Benin, Burkina Faso, Chad and Mali, known as the Cotton Four -proposed the World Trade Organization a World Cotton Day celebration on October 7.

Note: World Trade Organization Headquarters: Geneva, Switzerland; World Trade Organization Founded: 1 January 1995; World Trade Organization Director-General: Ngozi Okonjo-Iweala.

 

OTHER UPDATES:

 

SPORTS

 

1. Magnus Carlsen wins Meltwater Champions Chess Tour title: World Chess Champion Magnus Carlsen has won the inaugural Meltwater Champions Chess Tour, to claim the non-fungible token (NFT) trophy and $1,00,000 in the finals. The 10-month long online chess tournaments were held on chess24.com from November 22, 2020, till October 4, 2021. The tournaments are not rated by FIDE. The MCCT tour comprised of 10 total tournaments. The 2021 Meltwater Champions Chess Tour was the most viewed online chess event in the history of the game. Magnus Carlsen is now considered as the undisputed best online chess player in the world.

 

BUSINESS AND ECONOMY

 

1. CoinDCX ropes Amitabh Bachchan to raise crypto awareness: Crypto exchange CoinDCX has roped in Amitabh Bachchan as a brand ambassador to spread awareness about cryptocurrencies. Through this collaboration, CoinDCX wants to increase awareness around crypto and popularise it as an emerging asset class. CoinDCX wants to ensure that crypto is accessible to everyone. The crypto industry in India is on an exponential climb, rising gradually over the previous few years, with millions of Indians emerging as early adopters of the crypto asset class.

 

AWARDS AND HONOURS

 

1. The Nobel Prize in Chemistry 2021 announced: The Nobel Prize in Chemistry 2021 was awarded jointly to Benjamin List and David W.C. MacMillan “for the development of asymmetric organocatalysis.”  This has had a great impact on pharmaceutical research and has made chemistry greener. The Royal Swedish Academy of Sciences has decided to award the Nobel Prize in Chemistry 2021. Catalysts are thus fundamental tools for chemists, but researchers long believed that there were, in principle, just two types of catalysts available: metals and enzymes. Benjamin List and David MacMillan are awarded the Nobel Prize in Chemistry 2021 because in 2000 they, independent of each other, developed a third type of catalysis. It is called asymmetric organocatalysis and builds upon small organic molecules.

About the Benjamin List: Benjamin List, born 1968 in Frankfurt, Germany. Ph.D. 1997 from Goethe University Frankfurt, Germany. Director of the Max-Planck-Institut für Kohlenforschung, Mülheim an der Ruhr, Germany.

About the David W.C. MacMillan: David W.C. MacMillan, born 1968 in Bellshill, UK. Ph.D. 1996 from University of California, Irvine, USA. Professor at Princeton University, USA.

 

DEFENCE

 

1. 5th India-Japan Bilateral Maritime Exercise JIMEX-21 begins: The fifth edition of India – Japan Maritime Bilateral Exercise JIMEX was held in the Arabian Sea from 06 to 08 October 2021. The Indian Navy is represented by indigenously built Guided Missile Stealth Destroyer Kochi and Guided Missile Frigate Teg, P8I Long Range Maritime Patrol Aircraft, Dornier Maritime Patrol Aircraft, integral helicopters and MiG 29K fighter aircraft.

About the JIMEX: JIMEX series of exercises between the Indian Navy (IN) and the Japan Maritime Self-Defence Force (JMSDF) are being held since 2012. JIMEX-21 aims to develop a common understanding of operational procedures and enhance inter-operability through the conduct of a multitude of advanced exercises, across the entire spectrum of maritime operations. It will further enhance the cooperation and mutual confidence between the two navies.

 

OBITUARIES

 

1. Atal Vajpayee’s Former Private Secretary Shakti Sinha passes away: Shakti Sinha, former bureaucrat, and academician who was private secretary to late prime minister Atal Bihari Vajpayee, passed away. Sinha, an IAS officer of the 1979 batch, was also former Director of Nehru Memorial Museum and Library (NMML). He worked closely with Vajpayee between 1996 and 1999 and had written a memoir titled Vajpayee: The Years That Changed India.

Daily GK Update- 6th Oct, 2021

NATIONAL UPDATES:

 

1. AIIB approves $356 mn loan for Phase II of Chennai Metro Rail: The Asian Infrastructure Investment Bank (AIIB) has approved a loan worth US $356.67 million to support the expansion of Chennai Metro Rail (CMRL). The fund will be used for the construction of a new metro corridor as part of CMRL’s Phase-II development project. With this investment, the Beijing-based financial institution’s total financing in India for various projects has reached to $6.7 billion, making India its largest beneficiary, in terms of getting approvals for many projects. AIIB has approved funding for 28 projects in India, with the energy and transport sectors receiving the highest amount of AIIB’s financing.

 

2. Centre declares Chacha Chaudhary as official Mascot of ‘Namami Gange’ Mission: The iconic Indian comic book cartoon character, Chacha Chaudhary, whose brain works faster than a computer, has been declared as the official mascot for the centrally-sponsored NamamiGangeProgramme. An outlay of Rs. 2.26 crore has been dedicated to the project. The comics will initially be launched in Hindi, English and Bengali languages. The National Mission for Clean Ganga (NMCG) has tied up with Diamond Toons, the publisher of the Chacha Chaudhary comics, to conceptualize, develop and distribute the new comics, e-comics and animated videos featuring the cartoon character. Chacha Chaudhary has been chosen to especially connect children with the campaign of river cleanliness.

About the mission: Namami Gange Programme is an Integrated Conservation Mission, approved as a ‘Flagship Programme’ by the Union Government in June 2014 to accomplish the twin objectives of effective abatement of pollution and conservation and rejuvenation of National River Ganga. It is being operated under the Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti.

 

3. Himachal Pradesh becomes 1st state to begin organised cultivation of dalchini: The CSIR’s Institute of Himalayan Bioresource Technology (IHBT) has introduced cinnamon cultivation in Himachal Pradesh on a pilot basis. True cinnamon or Cinnamomumverum is grown mainly in Sri Lanka, while minor producing countries include Seychelles, Madagascar, and India. India imports 45,318 tonnes of cinnamon annually from China, Sri Lanka, Vietnam, Indonesia and Nepal. With the cultivation of Cinnamomum Verum, HP has become the first state of India to have organized cultivation of cinnamon.

Note: Himachal Pradesh Governor: Rajendra Vishwanath Arlekar; Himachal Pradesh CM: Jai Ram Thakur.

 

4. Cabinet nod to ‘PM Poshan’ scheme for providing cooked meals to school kids: The Union Cabinet approved the roll-out of the ‘PM POSHAN in Schools’ scheme for the five years, from 2021-22 to 2025-26, with a financial outlay of Rs 54061.73 crores from the central government and Rs 31,733.17 crore from the state governments and union territory administrations. The scheme will provide hot cooked meal to students of elementary classes in government and government-aided schools across the country. The existing mid-day meal scheme will be subsumed into the PM Poshan Shakti Nirman scheme with the addition of several new components in it.

 

5. Alok Sahay appointed as Secretary-General of Indian Steel Association: The Indian Steel Association (ISA) has announced that Alok Sahay has assumed office as its new secretary-general and executive head, taking over from Bhaskar Chatterjee. Sahay who is the former executive director of the Steel Authority of India (SAIL) has experience of almost four decades in the steel industry. Sahay has worked closely with the steel industry and the Government as one of the core industry representatives to advocate on trade-related matters at national and international forums. His experience also includes training at British Steel and tenure as visiting fellow at Queen Elizabeth House, Oxford University.

Note: Indian Steel Association Headquarters: New Delhi; Indian Steel Association Established: 2014.

 

6. Sanjay Bhargava to head Starlink satellite broadband venture in India: Sanjay Bhargava, who had worked with Elon Musk as part of a team that had founded electronic payment firm, PayPal, will now head the tech billionaire entrepreneur’s Starlink satellite broadband venture in India. Bhargava joins SpaceX as Starlink’s country director (India), as the Musk-led US aerospace company gears up to compete with Bharti group-backed OneWeb.

 

INTERNATIONALUPDATES:

 

1. Ethiopian PM Abiy Ahmed takes oath for second term: The Prime Minister of Ethiopia, Abiy Ahmed has been sworn in for a second five-year term. He was administered the oath of office by Supreme Court Chief Justice Meaza Ashenafi. Abiy’s Prosperity Party was declared the winner of June’s parliamentary elections, which were criticised by opposition parties but described by external observers as improved from past elections. He is serving as prime minister of Ethiopia since 2018. Mr Abiy won the 2019 Nobel Peace Prize for restoring ties with neighbouring Eritrea and for pursuing sweeping political reforms. He is dealing with a war that is spreading from the Tigray region and ethnic violence.

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

 

2. India slips two spots to 59th on Digital Quality of Life index: India has ranked 59 among 110 countries in the Digital Quality of Life Index, according to a global study by the British Virgin Islands-based cybersecurity company Surfshark. While India has witnessed a drop compared to last year — falling from 57th spot to 59th — it now ranks 17th in Asia and first in the South Asia region. Its its e-security has also improved and it now ranks 36th (was 57th in 2020), higher than China which ranks 72nd. According to the index, India ranks 67th on internet quality indicator.

Denmark topped the index for the second year in a row, followed by South Korea and Finland, while the bottom five countries include Ethiopia, Cambodia, Cameroon, Guatemala, and Angola. The countries where the internet is least affordable are Nigeria, Côte D’Ivoire and Mali, where people are required to do approximately a week’s worth of work to afford the internet.

 

3. Breast Cancer Awareness Month 2021: October 01 to 31: Every year the Breast Cancer Awareness Month (BCAM) is observed in the month of October, from 01 to 31. The annual international health campaign aims to increase awareness of the disease and to raise funds for research into its cause, prevention, diagnosis, treatment and cure. The pink ribbon is an international symbol of breast cancer awareness.

 

OTHER UPDATES:

 

SPORTS

 

1. Smriti Mandhana becomes first Indian women to score a Test hundred on Australian: In a historic moment in women’s cricket, Smriti Mandhana became the first Indian woman to score a Test hundred on Australian soil. She completed her century to shape up India’s first innings on the second day of the first pink ball day and night. The match was played at the Carrara Oval in Queensland, Australia today. She scored 127 runs with 22 fours and a six.

 

BANKING AND FINANCE

 

1. SBI launches NAV-eCash card in collaboration with Indian navy: State Bank of India (SBI) has announced the launch of SBI’s NAV-eCash card on INS Vikramaditya, the largest naval aircraft carrier of India. The new journey envisioned for the card is set to change the payment ecosystem, while the ship is sailing with no dependency on utilisation of any form of cash to avail any of the services on board. The new NAV-eCash card will facilitate both online and offline transactions. The card will obviate the difficulties faced by personnel onboard in handling physical cash during deployment of the ship at high seas. The new journey envisioned in the form of a NAV-eCash Card will change the payment ecosystem while the ship is sailing with no dependency on cash for utilization of any of the services on board.

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

 

2. B C Patnaik takes charge as MD of LIC: BC Patnaik has taken charge as Managing Director of Life Insurance Corporation of India. He was appointed as Managing Director by the Government of India notification dated July 5, 2021. Prior to taking charge as Managing Director of LIC, Patnaik was Secretary-General, Council for Insurance Ombudsmen, (CIO) Mumbai. He joined LIC of India in March 1986 as a Direct Recruit Officer.

Note: LIC Headquarters: Mumbai; LIC Founded: 1 September 1956; LIC Chairman: M R Kumar.

 

BUSINESS AND ECONOMY

 

1. Britannia ties up with Accenture to accelerate its digital transformation: Packaged-food major Britannia Industries has collaborated with the global IT and professional services company Accenture to accelerate its digital transformation across multiple retail channels. Accenture, through a digital transformation program, has helped Britannia Industries to accelerate innovation, capture value and improve the customer and supplier experience. For Britannia’s large network of suppliers, this project will help streamline procurement and supply chain management, using SAP Ariba solutions to expedite digital onboarding, contract management and procurement processes.

 

AWARDS AND HONOURS

 

1. M. Venkaiah Naidu presented Lokapriya Gopinath Bordoloi Award: Vice President of India, M. Venkaiah Naidu has presented Lokapriya Gopinath Bordoloi Award for National Integration and National Contribution. This award has been conferred to eminent writer Nirode Kumar Barooah, Assam Branch of the Kasturba Gandhi National Memorial Trust and Shillong Chamber Choir at a special function in Guwahati. The award carries a cash reward of Rs 5 lakh, a citation, and a shawl. It is one of the biggest civilian awards of Assam.

About the awardees: This award was instituted by the Assam government in memory of the state’s first chief minister Gopinath Bordoloi. The Assam branch of the Kasturba Gandhi National Memorial Trust was founded by Mahatma Gandhi on 9 January 1946. Shillong Chamber Choir (SCC) is a renowned musical group founded in 2001. It has performed on various national and international platforms.

 

DEFENCE

 

1. AUSINDEX’: India, Australia participate in 4th edition: India and Australia have participated in the fourth edition of the biennial maritime series ‘AUSINDEX’. The exercise will allow the Australian Navy and Indian Navy to strengthen “inter-operability, gain from best practices”. The maritime exercise is conducted in Australia and India, with the recent one being held in the Northern Australia Exercise Area.

About the exercise: HMAS Rankin, Royal Australian Air Force P-8A and F-18 aircraft, helicopters of Australian and Indian Navy participated in this maritime exercise. The exercise has provided an opportunity for both navies to enhance inter-operability and develop a common understanding of procedures for maritime security operations.