Daily GK Update- 1st Dec, 2021

 

NATIONAL UPDATES:

 

1. Indian Railways Constructing World’s Tallest Pier Bridge in Manipur: The Indian Railways is constructing the tallest pier railway bridge of the world in Manipur. The ambitious project of the Railways in Manipur is part of the Jiribam-Imphal railway line, which ultimately is part of a new broad gauge line being constructed to connect the northeastern state with the rest of the country. Currently, the tallest pier bridge record is held by 139-metre high Mala-Rijeka viaduct built at Montenegro in Europe.

About the bridge:

(1) The bridge is being built at a height of 141 metres.

(2) The total length of the Manipur bridge will be 703 metres.

(3) Once completed, the project will enable passengers to cover 111 km of distance in 2-2.5 hrs.

 

2. Skyroot test-fired India’s 1st privately Built Cryogenic Rocket Engine “Dhawan-1”: Skyroot Aerospace, a space technology startup based in Hyderabad, has successfully test-fired Dhawan-1, India’s first privately developed fully cryogenic rocket engine. This will power the upper stages of its upcoming Vikram-2 orbital launch vehicle. The rocket engine Dhawan-1 is named after Satish Dhawan, an Indian rocket scientist.

About the Dhawan-1: Dhawan-1 is a completely ‘Made-in-India’ cryogenic engine, developed using 3D printing with a superalloy. The engine is fuelled by liquefied natural gas and liquid oxygen—a high-performance, low-cost, and clean rocket fuel.

Note: Skyroot Aerospace Founded: 12 June 2018; Skyroot Aerospace Headquarters: Hyderabad, Telangana; Skyroot Aerospace Co-founder, CEO & CTO: Pawan Kumar Chandana; Skyroot Aerospace Co-founder, COO: Naga Bharath Daka.

 

3. Harshwanti Bisht becomes 1st women President of Indian Mountaineering Foundation: Noted mountaineer from Uttarakhand, Harshwanti Bisht has earned the distinction of being elected the first woman president of the Indian Mountaineering Foundation (IMF). The 62-year-old Bisht won 60 out of a total of 107 votes to get elected to the coveted post. It is for the first time that a woman has been elected as the president of the IMF, which was founded in the year 1958.

 

4. A book on India-Pakistan War 1971 released by MM Naravane: General MM Naravane released a book ‘Bangladesh Liberation @ 50 years: ‘Bijoy’ with Synergy, India-Pakistan war 1971’, a compilation of personal accounts of the war by veterans from India and Pakistan. The book is an amalgamation of historical and anecdotal accounts of the 1971 War and comprises authors from both India and Bangladesh mostly who fought the war.

About the event: The event was organized by the Centre for Land Warfare Studies (CLAWS) at the India International Centre (IIC), Delhi to commemorate 50 Years of India-Bangladesh Friendship as well as the decisive victory in India- Pakistan War 1971.

An award ceremony was also conducted. The ‘Scholar Warrior Award’ was awarded by the former COAS (Chief of Army Staff) of Bangladesh, Bir Protik to Brigadier Narender Kumar for his outstanding contribution as a warrior and in the field of research.

 

5. BSF celebrates 57th Raising Day on December 01, 2021: The Border Security Force (BSF) is celebrating its 57th Raising Day on 01 December 2021. BSF was formed on December 1, 1965 as a unified central agency after the Indo-Pak and India-China wars for ensuring the security of the borders of India and for matters connected therewith. It is one of the five Central Armed Police Forces of the Union of India and stands as the world’s largest border guarding force. BSF has been termed as the First Line of Defence of Indian Territories.

Note: BSF Director General: Pankaj Kumar Singh; BSF Headquarters: New Delhi.

 

INTERNATIONAL UPDATES:

 

1. Petr Fiala appointed as new Prime Minister of Czech Republic: Petr Fiala has been sworn in as the new Prime Minister of the Czech Republic by President Milos Zeman. Fiala, 57, heads the three-party coalition Together (Civic Democratic Party, Christian Democrats, TOP 09 party), which garnered 27.8% of the vote in early October. Fiala succeeds Andrej Babis. The alliance narrowly defeated the ANO movement led by billionaire Babis. The centrist group of the Mayors and Independents and the left-wing Pirate Party joined with Fiala’s coalition to remove Babis, who had served as prime minister since 2017.

Note: Czech Capital: Prague; Currency: Czech koruna.

 

2. World AIDS Day: 1st December: World AIDS Day is observed across the globe on 1st December every year since 1988. The day provides an opportunity for people worldwide to unite in the fight against HIV, to show support for people living with HIV and to commemorate those who have died from an AIDS-related illness. This year the theme of World AIDS Day is “End inequalities. End AIDS and End Pandemics.” With a special focus on reaching people left behind, WHO and its partners are highlighting the growing inequalities in access to essential HIV services.

History of the day: The day was first marked in 1988 and was also the first-ever international day for global health. Acquired immunodeficiency syndrome (AIDS) is a chronic disease that is caused by the human immunodeficiency virus (HIV). The immune system of the person who is suffering from the disease gets damaged and also reduces the disease-fighting ability of the body.

 

OTHER UPDATES:

 

SPORTS

 

1. Saurav Ghosal wins Malaysian Open Squash Championship 2021: Indian Squash star, Saurav Ghosal has scripted history as he has become the first Indian squash player to win the Malaysian Open Championships. The second-seeded Ghosal beat Miguel Rodriguez of Colombia 11-7, 11-8 and 13-11 in the men’s singles final in Kuala Lumpur to win the 2021 Malaysian Open Squash Championships title. On the other hand, the women’s singles title of the 2021 Malaysian Open squash championships has been won by Malaysia’s Aifa Azman.

 

BANKING AND FINANCE

 

1. India’s 1st Credit Card made from Recycled PVC Plastic launched by HSBC: HSBC India has launched India’s 1st credit card made from recycled PVC (Polyvinyl chloride) plastic. The cards have been introduced in partnership with global cards manufacturer IDEMIA to gradually eliminate single-use PVC plastic. The cards are made from 85 per cent recycled plastic and each card will save 3.18gm of plastic waste in addition to helping lower overall carbon emission.

About the card: The card was launched as a part of a new program launched by HSBC Group to introduce sustainable cards across all its global locations to support its global commitments to sustainability and a net-zero in its operations by 2030.

Note: HSBC India Founded: 1853; HSBC India Headquarters: Mumbai, Maharashtra; HSBC India CEO: Hitendra Dave.

 

BUSINESS AND ECONOMY

 

1. Kantar’s BrandZ India report 2021 announced: According to Kantar’s BrandZ India 2021 report, Amazon, Tata Tea and Asian Paints emerged as the most purposeful brands in India across technology, FMCG, and non-FMCG categories respectively. In technology ranking Amazonleads the index followed by Zomato, YouTube, and Google, and Swiggy jointly in 4th place. While Asian Paints topped the non-FMCG rankings, Samsung and Jio ranked jointly in the 2nd position, followed by MRF. The FMCG category rankings saw Tata Tea topping the chart, Surf Excel in 2nd position.

India’s Top 5 Most Purposeful Brands:

 

Rank	Most Purposeful Technology Brands	Most Purposeful FMCG Brands	Most Purposeful Non-FMCG Brands
1	Amazon	Tata Tea	Asian Paints
2	Zomato	Surf Excel(Detergent brand)	Samsung & Jio
3	YouTube	Taj Mahal (tea brand)	MRF
4	Google & Swiggy	Parachute & Maggi	Tata Housing
5	Flipkart	Britannia	Airtel

 

AWARDS AND HONOURS

 

1. 52nd International film festival of India concluded in Goa: The 52nd edition of the International film festival of India concluded in Goa. For the first time, the BRICS film festival was hosted alongside IFFI, OTT platforms participated and 75 creative young minds of cinema were felicitated at IFFI. The event was attended by Manoj Bajpayee, Randhir Kapoor, Madhuri Dixit Nene as well as Union Information and Broadcasting Minister Anurag Thakur and Goa CM Pramod Sawant.

List of award winners in IFFI Goa:

Most friendly State for film shooting: Uttar Pradesh

Silver Peacock for Best Actor (Male): Jitendra Bhikulal Joshi (Godavari)

Best actor (female): Angela Molina (Paraguay) for Charlotte

Best director: Vaclav Kadrnka (Czech Republic) for ‘Saving One Who Was Dead’

Golden Peacock Award for Best Film: Japanese film Ring Wandering (Masakazu Kanyeko)

The Special Jury award: Renata Carvalho (Brazil)

Indian Film Personality of the Year Award: Prasoon Joshi

Jury Special Mention for Debut Feature Film: The Wealth of the World

Best Debut Feature Film of a Director: Director Mari Alessandrini’s Zahori

ICFT UNESCO Gandhi Award: Lingui: The Sacred Bonds

Daily GK Update- 30th Nov, 2021

 

NATIONAL UPDATES:

 

1. Madhya Pradesh will create first cyber tehsil of India: Madhya Pradesh Cabinet has approved the proposal to create cyber tehsils in the state of Madhya Pradesh. After this, MP will become the first state in the country to have a cyber tehsil. Cyber Tehsil will make the mutation process easy and people from anywhere in the state can avail of its benefit. With this, the process of conversion will become convenient in the cases of undisputed land.

The Home Minister of Madhya Pradesh also informed that the Cabinet has decided to launch ‘Urja Saksharta Abhiyan’ from November 25 to make citizens energy literate. Schools, colleges and the general public will be connected with this campaign. Madhya Pradesh will become the first state to run India’s energy literacy campaign on a big scale.

Note: Madhya Pradesh Capital: Bhopal; Madhya Pradesh Governor: Mangubhai C. Patel; Madhya Pradesh Chief Minister: Shivraj Singh Chouhan.

 

2. Cabinet approves continuation of umbrella scheme ‘O-SMART: The Cabinet Committee on Economic Affairs gave its approval for the continuation of the umbrella scheme, Ocean Services, Modelling, Application, Resources and Technology, O-SMART of Ministry of Earth Sciences for implementation during the period from 2021-26 at an overall cost of 2 thousand 177 crore rupees. The scheme encompasses seven sub-schemes namely Ocean Technology, Ocean Modelling and Advisory Services (OMAS), Ocean Observation Network (OON), Ocean Non-Living Resources, Marine Living Resources and Ecology (MLRE), Coastal Research and Operation and Maintenance of Research Vessels.

These sub-schemes are being implemented by autonomous and attached institutes of the Ministry like National Institute of Ocean Technology NIOT Chennai, Indian National Center for Ocean Information Services INCOIS Hyderabad, National Centre for Polar and Ocean Research NCPOR Goa, Center for Marine Living Resources and Ecology CMLRE Kochi and National Centre for Coastal Research NCCR Chennai as well as involving other national institutes.

 

3. National Family and Health Survey: India has more women than men: All three radical findings are part of the summary findings of the fifth round of the National Family and Health Survey (NFHS), which were released by the Union health ministry. India now has 1,020 women for every 1000 men, is not getting any younger, and no longer faces the threat of a population explosion. According to NFHS-3, conducted in 2005-06, the ratio was equal, 1000: 1000; it went down to 991:1000 in 2015-16 in NFHS-4. This is the first time, in any NFHS or Census, that the sex ratio is skewed in favour of women.

The improved sex ratio and sex ratio at birth is also a significant achievement; even though the real picture will emerge from the census, we can say for now looking at the results that our measures for women empowerment have steered us in the right direction. To be sure, NFHS is a sample survey, and whether these numbers apply to the larger population can only be said with certainty when the next national census is conducted, although it is very likely that they will in the case of many states and Union territories.

 

4. Niti Aayog’s Poverty Index: Bihar poorest in multidimensional poverty: The government think tank Niti Aayog has released the first-ever Multi-dimensional Poverty Index (MPI) to measure poverty at the national, State/UT, and district levels. As per the inaugural index, Bihar has been adjudged as the state with the highest level of multidimensional poverty. 51.91 per cent of the state’s population are multidimensionally poor.

According to the Index:

(1) Jharkhand is at second position with 42.16 per cent of the state population as multidimensionally poor. This is followed by Uttar Pradesh at 37.79 per cent, Madhya Pradesh (36.65 per cent) and Meghalaya (32.67 per cent) in the top five poorest states.

(2) Meanwhile, Kerala (0.71 per cent), Goa (3.76%), Sikkim (3.82%), Tamil Nadu (4.89%) and Punjab (5.59 %) are the top 5 lowest poverty states across India.

(3) Kottayam in Kerala is the only district that registered zero poverty across the country as per the index.

Note: NITI Aayog Formed: 1 January 2015; NITI Aayog Headquarters: New Delhi; NITI Aayog Chairperson: Narendra Modi; NITI Aayog Vice Chairperson: Rajiv Kumar; NITI Aayog CEO: Amitabh Kant.

 

5. Cherry Blossom Festival 2021 celebrated in Meghalaya: The three-day Shillong Cherry Blossom Festival 2021 was inaugurated by Chief Minister of Meghalaya, Conrad K Sangma, and Ambassador of Japan to India, Satoshi Suzuki. It was celebrated from November 25 to 27. The festival was held in two venues, Ward’s Lake and Polo Grounds in Meghalaya. The annual festival coincides with the actual blooming of the cherry blossom flowers. It is also known as the Prunus Cerasoides, these flowers underline the Himalayas and cover the east and west Khasi hills.

 

INTERNATIONAL UPDATES:

 

1. WHO classifies new COVID-19 variant B.1.1.529 as Omicron: World Health Organisation (WHO) has classified the new COVID-19 variant B.1.1.529 as Omicron. New COVID-19 variant B.1.1.529 was first reported to WHO from South Africa on 24 November 2021. According to WHO, the strain may spread more quickly than other forms. It has a large number of mutations. WHO said that preliminary evidence suggests an increased risk of reinfection with this variant as compared to other variants. WHO also said that current PCR tests continue to successfully detect the variant. About the Omicron:

(1) The classification puts Omicron into the most-troubling category of COVID-19 variants, along with the globally-dominant Delta, plus its weaker rivals Alpha, Beta and Gamma.

(2) Apart from South Africa, Omicron has been detected in Israel in a person coming from Malawi; Botswana; Belgium and Hong Kong.

Note: WHO Established: 7 April 1948; WHO Director General: Dr Tedros Adhanom Ghebreyesus; WHO Headquarters: Geneva, Switzerland.

 

2. Collins Dictionary names ‘NFT’ as the Word of the Year 2021: Collins Dictionary has named the term ‘NFT’ as the Word of the Year 2021. NFT is the acronym for “non-fungible token. As per Collins Dictionary, NFT is defined as “a unique digital certificate, registered in a blockchain, that is used to record the ownership of an asset such as an artwork or a collectible.” Collins English Dictionary is published by HarperCollins in Glasgow.

 

3. Day of Remembrance for all Victims of Chemical Warfare: 30th November: The United Nation recognised Day of Remembrance for all Victims of Chemical Warfare is held every year on November 30. The day marks a tribute to the victims of chemical warfare, as well as to reaffirm the commitment of the Organisation for the Prohibition of Chemical Weapons (OPCW) to the elimination of the threat of chemical weapons, thereby promoting the goals of peace, security, and multilateralism.

History Day of Remembrance for all Victims of Chemical Warfare: The first Day of Remembrance for all Victims of Chemical Warfare was held in 2005. The history of the serious efforts to achieve chemical disarmament that culminated in the conclusion of the Chemical Weapons Convention began more than a century ago. Chemical weapons were used on a massive scale during World War I, resulting in more than 100,000 fatalities and a million casualties.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI raises higher cap on promoter stake in private banks at 26%: Reserve Bank of India had formed an Internal Working Group (IWG) in June 2020, to review the extant guidelines on ownership and corporate structure for Indian private sector banks. The IWG had 5 members with Shrimohan Yadav as the convenor. The Internal Working Group (IWG) had made 33 recommendations to RBI. Now RBI has accepted 21 recommendations out of these 33.

Some important points from these recommendations are given below:

(1) The initial lock-in requirements will continue as a minimum of 40 per cent of the paid-up voting equity share capital of the bank for the first five years.

(2) The cap on promoters’ stake in the long run of 15 years has been raised from 15 per cent (earlier) to 26 per cent of the paid-up voting equity share capital of the bank.

(3) The minimum initial capital requirement for licensing new banks has been increased as below:

(4) For Universal Banks: The initial paid-up voting equity share capital/ net worth required to set up a new universal bank has been increased to ₹1000 crore (from present ₹500 crores).

(5) For SFBs: The initial paid-up voting equity share capital/ net worth required to set up a new SFB, has been increased to ₹300 crores (from present ₹200 crores).

(6) For UCBs transiting to SFBs: The initial paid-up voting equity share capital/ net worth has been increased to ₹150 crores (from present ₹100 crores) which has to be increased to ₹300 crores in five years (from present ₹200 crores).

(7) All the new Small Finance Banks which are set up now, should be listed (on the stock exchange) within ‘eight years from the date of commencement of operations.

 

BUSINESS AND ECONOMY

 

1. Bajaj Allianz General Insurance tied up with TropoGo for Drone Insurance: Bajaj Allianz General Insurance announced its partnership with deep-tech startup TropoGo for the distribution of a drone Insurance product. With this Bajaj Allianz General Insurance becomes the 4th insurer to offer drone cover. HDFC Ergo was the first insurer to launch a drone insurance cover in June 2020, followed by ICICI Lombard in August 2021, and Tata AIG last month.

About the drone Insurance: The drone insurance product will cover Damage to the Drone and Payload it carries Third Party Liability, BVLOS (Beyond Visual Line of Sight) Endorsement, and Night Flying Endorsement.

Note: Bajaj Allianz General Insurance Founded: 2001; Bajaj Allianz General Insurance Headquarters: Pune, Maharashtra; Bajaj Allianz General Insurance CEO & MD: Tapan Singhel.

 

2. Rajnish Kumar becomes non-executive Director on Hero MotoCorp: Two-wheeler major, Hero MotoCorp announced the appointment of former chairman of State Bank of India (SBI) Rajnish Kumar as an independent non-executive director on the board of the company. Kumar completed his three-year term as chairman of SBI in October 2020. He is currently serving as an Independent Director on the Boards of many other companies including HSBC, Asia Pacific, L&T Infotech, and is also the Non-Executive Chairman of Resilient Innovations (BharatPe).

Daily GK Update- 29th Nov, 2021

 

NATIONAL UPDATES:

 

1. Jitendra Singh launches World’s First Multimodal Brain Imaging Data and Analytics: The Union Minister of State (Independent Charge) for the Ministry of Science and Technology, Dr Jitendra Singh inaugurated Project SWADESH. The project SWADESH is a first of its kind large-scale multimodal neuroimaging database designed specifically for the Indian population. The unique brain initiative has been developed by the DBT-National Brain Research Centre (DBT-NBRC), Gurgaon, Haryana.

About the SWADESH: SWADESH brings big-data architecture and analytics for various neurological diseases under one platform. It will enable the researchers in conducting multimodal brain studies to understand and manage Alzheimer’s disease and several neurological disorders. DBT-NBRC is the only institute in India dedicated to Neuroscience Research and Education.

 

2. FM launches new schemes for women entrepreneurs, hotel & tour and tourism industry in J&K: Union Finance Minister Nirmala Sitharaman handed over credit sanction letters of Rs 306 crore to beneficiaries in Jammu and Kashmir and announced a host of initiatives, including a Rs 200 crore cluster development fund for the Union territory. She also virtually laid the foundation of rural self-employment training institute buildings at Shopian and Baramulla districts of the Kashmir Valley. She also handed over sanction letters of Rs 306 crore to 145 beneficiaries of different banks and credit-linked schemes like the Pradhan Mantri Employment Generation Programme, MUDRA Scheme, Self-Help Groups, Joint-Liability Groups, among others.

 

3. ‘Urja Saksharta Abhiyan’ to be launched in Madhya Pradesh to make citizens aware about energy saving: In Madhya Pradesh ‘Urja Saksharta Abhiyan’ would be launched to make all the citizens aware about energy saving. The decision was taken in the Cabinet meeting chaired by Chief Minister Shivraj Singh Chauhan. The activities to be included in this campaign are to give information about alternative sources of energy and steps towards energy conservation. Students of schools and colleges will act as volunteers in the campaign. Efforts are also being made by state government to increase the share of electricity supply from renewable energy.

 

4. Central Board of Irrigation and Power organizes 1st International Conference on Hydrogen Energy: The 1st International Conference on Hydrogen Energy – Policies, Infrastructure Development and Challenges is being organized by Central Board of Irrigation and Power in New Delhi. The two day conference aims to bring key stakeholders on the same platform to discuss all facets of Hydrogen Energy in India. Speaking on the occasion, Minister of State for New and Renewable Energy, Bhagwanth Khuba hoped that this conference will be able to deliberate future challenges for Hydrogen Energy and find solutions. He said, Prime Minister Narendra Modi has emphasized his conviction for decarbonisation of India in COP26. The Minister inspired technologists from IITs and other organizations for maximum research for Hydrogen Energy to culminate the challenge of reducing cost of production for eletrolysers.

 

5. Union Cabinet approves Privatization of Electricity Distribution and Retail Supply Business in Dadra & Nagar Haveli, Daman & Diu: Union Cabinet has approved the Privatization of Electricity Distribution and Retail Supply Business in the Union Territory of Dadra & Nagar Haveli and Daman & Diu. The privatization process will fulfill the desired outcomes of better services to over 1.45 lakh consumers of the UT, operational improvements and functional efficiencies in distribution and provide a model for emulation by other utilities across the country. This will further lead to an increase in competition and strengthen the electricity industry and will also lead to recovery of unrealized dues.

 

INTERNATIONAL UPDATES:

 

1. 20th SCO Council of Heads of Government: S. Jaishankar represent India: The External Affairs Minister, S. Jaishankar led the Indian delegations at the 20th Meeting of Shanghai Cooperation Organisation (SCO) Council of Heads of Government (CHG). The meeting was held in Nur-Sultan in virtual format under the chairmanship of Kazakhstan. The SCO-CHG meeting is held annually to deliberate on a range of pressing regional issues with focuses on the trade and economic agenda of the bloc and to approve its annual budget.

The meeting was attended by the heads of government of the SCO member states, observer states and secretary-general of the SCO. The executive director of the SCO Regional Anti-Terrorist Structure (RATS), Turkmenistan and other invited guests are also expected to attend the meeting. India is actively engaged in various SCO activities/dialogue mechanisms in the region as well as other multilateral cooperation within the SCO framework.

About the SCO: The SCO was founded at a summit in Shanghai in 2001 by the presidents of Russia, China, the Kyrgyz Republic, Kazakhstan, Tajikistan and Uzbekistan. Over the years, it has emerged as one of the largest trans-regional international organisations. India and Pakistan became its permanent members in 2017.

 

2. India, US agree on transitional approach on Equalisation Levy 2020: India and United States have agreed on a transitional approach on Equalisation Levy 2020. India and United States have agreed that the same terms that apply under the October 21 Joint Statement shall apply between the two countries with respect to India’s charge of two per cent equalisation levy on e-commerce supply of services and the United States’ trade action regarding the Equalisation Levy. However, the interim period that will be applicable will be from 1st of April 2022 till implementation of Pillar One or 31st March 2024, whichever is earlier. India and United States will remain in close contact to ensure that there is a common understanding of the respective commitments and endeavor to resolve any further differences of views on this matter through constructive dialogue.

 

3. Nepal & India sign MoU on reciprocal recognition of COVID vaccination certificate: India and Nepal inked a Memorandum of Understanding for reciprocal recognition of COVID vaccination certificate to significantly ease the travel woes for fully vaccinated people from the two neighboring countries. The MoU, between the health ministries of the two countries, is a significant step in easing travel for fully COVID-19 vaccinated travelers of both the countries. It “marks another milestone in robust COVID-19 related cooperation and coordination between India and Nepal.

 

4. International Day of Solidarity with the Palestinian People: 29th November: The International Day of Solidarity with the Palestinian People is an UN-organized day held every year on November 29. The day aims to educate the public on the question of Palestine and support a peaceful settlement of the Israeli-Palestinian conflict. It is observed to mark the anniversary of resolution 181, wherein the Assembly adopted the resolution on the partition of Palestine on November 29, 1947.

History of the day: In 1977, the General Assembly called for the annual observance of 29 November as the International Day of Solidarity with the Palestinian People. On that day, in 1947, the Assembly adopted the resolution on the partition of Palestine. This date, which was chosen because of its meaning and significance to the Palestinian people, is based on the call by the United Nations General Assembly for an annual observance of the resolution on the partition of Palestine.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI imposes Rs 1 Crore penalty on SBI for not following norms: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on the State Bank of India (SBI), for violating subsection (2) of section 19 of the Banking Regulation Act, 1949. SBI held shares in the borrower companies of an amount exceeding 30 per cent of the paid-up share capital of those companies.

Sub-section (2) of the Banking Regulation Act, 1949: As per Sub-section (2) of the Banking Regulation Act, 1949, no banking company can hold shares in any company, as pledgee, mortgagee or absolute owner, of an amount exceeding 30 per cent of the paid-up share capital of that company or thirty per cent of its own paid-up share capital and reserves.

 

BUSINESS AND ECONOMY

 

1. MakeMyTrip tied up with Civil Aviation Ministry to promote Regional Air Connectivity: MakeMyTrip partnered with the Ministry of Civil Aviation to promote regional air connectivity through the UDAN scheme. MakeMyTrip will now power UDAN flights on the ‘AirSewa portal’ and market them on its platform to promote its services. The Govt. has identified 21st October as UDAN Day, the day on which the scheme document was first released. Under Regional Connectivity Scheme UDAN 4.1 the Civil Aviation Ministry has approved 78 new routes. So far, 766 routes have been sanctioned under the UDAN scheme.

Note: MakeMyTrip Founded: 2000; MakeMyTrip Headquarter: Gurugram, Haryana; MakeMyTrip Founder & Group Executive Chairman: Deep Kalra.

 

DEFENCE

 

1. NCC celebrates its 73rd Raising Day: The National Cadet Corps (NCC), the youth wing of the Indian Armed Forces and the largest uniformed youth organisation in the world, is observing the 73rd anniversary of its raising on November 28.  NCC day is celebrated every year on the 4th Sunday in November. NCC day is observed throughout the country. The raising day is being celebrated all over the country with cadets participating in marches, blood donation camps and social development programmes.

About the NCC: The NCC was formed on 15th July 1948. NCC is also the largest uniformed youth organisation in the whole world. The NCC headquarters is located in New Delhi. Headquarters is now open for school and college students. It is a voluntary “Tri-service Organisation”. This organisation includes the army, the naval and the wings.

Daily GK Update- 28th Nov, 2021

 

NATIONAL UPDATES:

 

1. ADB approves USD 1.5 bn loan to India for COVID-19 vaccine procurement: Asian Development Bank (ADB) has approved a $1.5 billion loan (approx Rs 11,185 crore) to help the Government of India purchase safe and effective vaccines against the coronavirus (COVID-19). The fund will be used to procure at least 66.7 crore COVID-19 vaccine doses for an estimated 31.7 crore people of the country. The Asian Infrastructure Investment Bank is expected to co-finance an additional USD 500 million for the project. Beijing-based AIIB is a multilateral development bank focused on developing Asia. It has members from all over the world. It will support India’s National Deployment and Vaccination Plan which aims to fully vaccinate 94.47 crore people aged 18 years and above, accounting for 68.9 per cent of the population.

 

2. PM Modi lays foundation stone of International Airport at Jewar in UP: Prime Minister Narendra Modi has laid the Foundation Stone of Noida International Airport at Jewar in Uttar Pradesh. The Jewar airport is the second international aerodrome in Delhi-National Capital Region (NCR). It is the fifth international airport in Uttar Pradesh. Uttar Pradesh has now become the state with the highest number of international airports in India.

About the airport: The airport has been developed by Zurich Airport International AG over 1,330 acres of land area. The airport is expected to be operational by September 2024. Once operational, this airport will be the largest airport of India and the first net-zero emissions airport of the country.

 

3. Nirmala Sitharaman launched Tejasvini & Hausala schemes: Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman has launched two schemes named ‘Tejasvini & Hausala schemes’ of J&K Bank for girls. Under 18-35 years of age to start their businesses and ‘Shikhar & Shikara’ schemes of Punjab National Bank (PNB) for development of tourism in Jammu and Kashmir (J&K).

About the Tejasvini Scheme: Tejaswini Scheme in the course of the credit score outreach programme in Jammu. The scheme goals to offer monetary help as much as Rs 5 lakh to younger ladies for establishing gainful self-employment ventures, suited to their expertise, aptitude & native situations. Tejasvini scheme focuses on offering monetary help of Rs. 5 lakh to ladies between 18-35 years for beginning their enterprise.

About the Hausla Scheme 2021 for Women Entrepreneurs: Hausla Scheme beneath the J&K Trade Promotion Organisation for empowering present ladies entrepreneurs to be role models of their respective sectors. It not solely supplies ability improvement, but additionally, credit score assist, advertising assist & mentorship.

About the ‘Shikhar & Shikara’: Shikhar scheme focuses on meeting credit requirements up to INR 2 crore for the hotel, tour & tourism industry. ‘Shikara’ which goals to supply finance for the acquisition of the latest shikara and restore & upkeep of shikara and houseboats by means of collateral-free time period loans with handy reimbursement beneath EMI mode in seven years. Shikara scheme will prove credit up to INR 15 lakh for purchase/repair of Shikaras is provided in Kashmir valley.

Note: J&K Lieutenant Governor: Manoj Sinha.

 

4. Rajnath Singh virtually inaugurates 5th World Congress on Disaster Management: The 5th edition of the World Congress on Disaster Management (WCDM) was virtually inaugurated by the Union Defence Minister, Rajnath Singh. The event has been organised at the Indian Institute of Technology (IIT) Delhi campus from November 24-27, 2021. The theme of the 5th WCDM is Technology, Finance and Capacity for Building Resilience to Disasters in the Contexts of Covid-19.

About the WCDM: World Congress on Disaster Management is a unique initiative of Disaster Management Initiatives and Convergence Society (DMICS) Hyderabad to bring researchers, policymakers and practitioners from around the world on a common platform to discuss various challenging issues of disaster risk management. The first WCDM was held in 2008 in Hyderabad and inaugurated by Dr A P J Abdul Kalam.

 

5. Govt approves proposals for construction of 3.61 lakh houses under PMAY-U: Government has approved the proposals for Construction of three lakh 61 thousand houses under Pradhan Mantri Awas Yojana (Urban). These houses have been approved in the 56th meeting of Central Sanctioning and Monitoring Committee held in New Delhi under the chairmanship of Secretary, Ministry of Housing and Urban Affairs Durga Shanker Mishra. With this, the total number of sanctioned houses under the Mission is now one crore 14 lakh. Housing and Urban Affairs Ministry the total investment under the mission is seven lakh 52 thousand crore rupees.

 

INTERNATIONAL UPDATES:

 

1. Sheikh Sabah Al Khaled Al Sabah becomes new Prime Minister of Kuwait: Sheikh Sabah Al Khaled Al Hamad Al Sabah has been appointed the new Prime Minister of Kuwait. Sheikh Sabah also served as Kuwait’s Ambassador to Saudi Arabia and Envoy at the Organisation of Islamic Cooperation (OIC) from 1995 to 1998. He has also been awarded with the Order of King Abdulaziz of First Class in 1998 by Saudi Arabia. Kuwaiti Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah issued an order on behalf of the emir, appointing Sheikh Sabah Khaled Al-Hamad Al-Sabah to form a new government and provide a list of names for approval.

Note: Kuwait Capital: Kuwait City; Kuwait Currency: Kuwaiti dinar.

 

2. India’s candidate elected to executive committee of Interpol: Central Bureau of Investigation (CBI) special director Praveen Sinha was elected the delegate for Asia in the executive committee of the International Criminal Police Organization (Interpol) following a tough contest involving China. In the election, four contestants were China, Singapore, South Korea and Jordan. India’s National Central Bureau (NCB-India) reached out to its counterparts around the world to campaign for this election. The elections were held in Istanbul, Turkey during the ongoing 89 INTERPOL General Assembly.

About the INTERPOL: Interpol is the world’s largest international police organization with a National Central Bureau in all 195 member states. It has seven regional bureaus all over the world. It was formed in 1923. Its motto is connecting police for a safer world. It is headquartered in Lyon, France. Kim Jong Yang is its President.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Centre releases new series of Wage Rate Index: The Labour ministry has released the new series of wage rate index (WRI) with the base year being 2016. The government periodically revises the base year of WRI for key economic indicators in order to provide a clear picture of economic changes and record the wage pattern of workers. The new series of WRI with base 2016=100 will replace the old series with base 1963-65. According to the recommendations of the International Labour Organization and National Statistical Commission, the base year of WRI numbers has been revised from 1963-65 to 2016 by the Labour Bureau to enhance the coverage and to make the index more representative. The new WRI series has expanded the scope and coverage in terms of the number of industries, sample size, occupations under selected industries as well as weightage of industries among other indicators.

Key facts: A total of 37 industries have been covered in the new WRI basket (2016=100) as against 21 industries in the 1963-65=100 series. The New WRI Series with base 2016=100 would be compiled twice a year on a point-to-point half-yearly basis, as on 1st January and 1st July of every year.

Note: International Labour Organization Director-General: Guy Ryder; International Labour Organization Headquarters: Geneva, Switzerland; International Labour Organization Founded: 1919.

 

2. NPCI Bharat BillPay ties up with Tata Power: NPCI Bharat BillPay – the wholly-owned subsidiary of the National Payments Corporation of India (NPCI) announced its integration with Tata Power, the country’s largest integrated power utility on ClickPay – making it the first power company to go live on the newly launched platform. Bharat BillPay’s marquee offering – ClickPay will enable Tata Power customers to make monthly electricity bill payments with ease. Tata Power will generate the ClickPay link and share it with customers which will redirect them to the payment page comprising payment details.

 

DEFENCE

 

1. Indian Navy commissioned 4th Scorpene-class submarine INS Vela: Indian Navy has commissioned indigenously builtScorpene-class submarine Vela at Mumbai’s Naval Dockyard. INS Vela is the fourth in Project 75 series, following Kalvari, Khanderi, and Karanj. It is expected to further boost Indian capability to defend and secure its strategic sea lanes. It was built by Mazagon Dock Shipbuilders Ltd in collaboration with M/s Naval Group of France.

About the Submarine:

(1) The submarine possesses advanced stealth and combat capabilities. Attacks from Vela can be carried using torpedoes and tube-launched anti-ship missiles at the same time, be it on the surface or underwater.

(2) The previous version of Vela was commissioned in 1973 and it was in service for 37 years. It was decommissioned in 2010. Captain Anish Mathew, the commanding officer of INS Vela, told news agency ANI on Wednesday that the submarine has an indigenous set of batteries and an advanced communication suite of indigenous make.

 

2. Army chief observes military exercise ‘Dakshin Shakti’ in Jaisalmer: Army chief General, M M Naravane has observed the military exercise ‘Dakshin Shakti’ being held here with the Army and the Air Force taking part in it. The exercise began in the deserts of Jaisalmer. T-72, T-90 as well as Vijayanta tanks of the Army and the IAF’s Dhruv and Rudha helicopters, and the Jaguar fighter aircraft participated in the joint exercise. The drill aims to establish the best coordination among the wings of the armed forces, space technology and artificial intelligence. General Officer-in-Commanding of the Army’s Southern Command, Lieutenant General JS Nain, JOC Battle X Division Major General Ajit Singh Gehlot were also present at the exercise.

 

OBITUARIES

 

1. Sahitya Akademi Award winning Poet Sananta Tanty passes away: Sahitya Akademi Award-winning, Eminent Assamese poet, Sananta Tantyhas passed away. Some of his works include Ujjwal Nakshatrar Sondhanot, Moi Manuhar Amal Utsav, Nizor Biruddhey Sesh Prastab, and Moi. He won the Sahitya Akademi Award (Assamese) in 2018 for his collection of poems titled “Kailoir Dinto Amar Hobo”.

Daily GK Update- 27th Nov, 2021

 

NATIONAL UPDATES:

 

1. Cabinet approves extension of Pradhan Mantri Garib Kalyan Ann Yojana: Union Cabinet chaired by Prime Minister Narendra Modi has approved the extension of Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) for another four months. The Phase V of the PMGKAY scheme will be operational from December 2021 till March 2022. Under the scheme, all the beneficiaries covered under the National Food Security Act (NFSA) receives food grains @ 5 kg per person per month.

About the schemes: The estimated additional food subsidy for Phase V of the scheme is of Rs. 53344.52 Crore. The total food-grains outgo for PMGKAY Phase V will be about 163 LMT.

 

2. Union Minister Pralhad Joshi inaugurates E-portal of accreditation scheme for minerals exploration: The Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi inaugurated the E-portal of accreditation scheme for Mineral exploration. The portal was inaugurated at the 5th National conclave on Mines and Minerals in New Delhi. The first ever national conclave on Mines and Minerals was held at Raipur in 2016. The minister presented awards to 149 five-star rated mines for sustainable mining practices and all round performance. He also handed over of 52 Geological Survey of India (GSI) approved mine blocks to 15 State Government.

 

3. India and ADB sign USD 300 million loan agreement to improve primary health care in India: The Government of India and the Asian Development Bank (ADB) have signed loan agreement worth $300 million to strengthen and improve access to comprehensive primary health care in urban areas. The programme will be implemented in urban areas across 13 states. Over 256 million urban dwellers including 51 million from slum areas will benefit from the project.

 

4. Shimla tops NITI Aayog’s inaugural SDG Urban Index: NITI Aayog launched the inaugural SDG Urban Index & Dashboard 2021-22, to further strengthen Sustainable Development Goals (SDGs) localization and institute robust SDG monitoring at the city level. The index is an SDG progress monitoring tool at the ULB level to highlight the strengths and gaps of ULB-level data, monitoring, and reporting systems. Shimla has topped among the 56 urban areas while Dhanbad in Jharkhand is at the bottom.

Top 5 Urban Areas with the score:

Shimla: 75.50

Coimbatore: 73.29

Chandigarh: 72.36

Thiruvananthapuram: 72.36

Kochi: 72.29

Bottom 5 Urban Areas with the score:

Dhanbad: 52.43

Meerut: 54.64

Itanagar: 55.29

Guwahati: 55.79

Patna: 57.29

 

About the SDG Urban Index and Dashboard 2021-22: The SDG Urban Index and Dashboard 2021-22 ranks 56 urban areas on 77 SDG indicators across 46 targets of the SDG framework. These include 44 cities with a population above one million and 12 State capitals with a population of less than a million. The Index has been developed by Niti Aayog in collaboration with GIZ and BMZ under the umbrella of Indo-German Development Cooperation.

 

5. A book titled “Contested Lands: India, China and the Boundary Dispute” by Maroof Raza: Former Army Officer Maroof Raza has authored a new book titled “Contested Lands: India, China, and the Boundary Dispute”. The book features the history of India’s boundary making with Tibet and China and analyses the current India-China boundary contestation stemming from interpretations of history in the post-colonial period. Maroof Raza’s other books: Kashmir’s Untold Story (co-authored with Iqbal Chand Malhotra), Shourya Gatha: Bharat Ke Veer Senani (co-authored with Lt. Col. Sheodan Singh),War Despatches 1971 (co-authored with Brig B.S. Mehta).

 

6. National Organ Donation Day: 27th November: In India, the ‘National Organ Donation Day’ is observed every year on 27 November since past 10 years. The day aims to promote awareness and recognize the selfless contribution made by deceased donors to healthcare and mankind re-instill our faith in humanity. 2021 marks the 12th National Organ Donation Day. It is organised by the National Organ & Tissue Transplant Organization (NOTTO) under the Ministry of Health and Family Welfare.

About Organ Donation: Organ donation is retrieving a donor’s organ like heart, liver, kidneys, intestines, lungs, and pancreas after the donor is deceased and then transplanting into another person who is in need of an organ.

Note: National Organ & Tissue Transplant Organization Headquarters: New Delhi.

 

INTERNATIONAL UPDATES:

 

1. Vice President represents India at 13th ASEM Summit Virtually: The 13th edition of the ASEM (Asia-Europe Meeting) Summit has been organised on November 25 and 26, 2021. The Summit is being hosted by Cambodia as ASEM Chair. The theme of the two-day ASEM Summit is Strengthening Multilateralism for Shared Growth. The Indian delegation is being led by Vice President M. Venkaiah Naidu through the virtual platform.

About the Summit: The ASEM Summit will bring together countries in Asia and Europe to exchange views on regional and global issues and strengthen cooperation in a wide range of areas. ASEM grouping have 51 member countries and two regional organisations — the European Union and the Association of Southeast Asian Nations (ASEAN). The 2021 summit marks the 25th anniversary of the ASEM process.

 

2. Magdalena Andersson elected as first female Prime Minister of Sweden: Social Democratic party leader Magdalena Andersson has been elected as the first woman prime minister of Sweden during Parliamentary election on November 24, 2021. She will replace incumbent Prime Minister Stefan Lofven. Magdalena Andersson is the current Finance Minister of the country. She will assume the charge of Prime Minister on November 26, 2021.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Equitas SFB partnered with HDFC Bank to offer co-branded credit cards: Equitas Small Finance Bank (SFB) partnered with HDFC (Housing Development Finance Corporation Limited) Bank to launch its new co-branded credit cards. Through this partnership, Equitas SFB will utilize the HDFC bank’s reach in the credit card market and also to provide its customers a better banking ecosystem.

About the credit card: The credit card can be availed in two categories. The first category is the ‘Excite Credit Card’ which offers a credit limit from Rs 25,000 to Rs 2 lakh and the second category is the ‘Elegance Credit Card’ which offers a credit of over Rs 2 lakh.

Note: Equitas Small Finance Bank Ltd Founded: 2016; Equitas Small Finance Bank Ltd Headquarters: Chennai, Tamil Nadu; Equitas Small Finance Bank Ltd MD & CEO: Vasudevan Pathangi Narasimhan.

 

BUSINESS AND ECONOMY

 

1. SBI signed an MoU with Pondicherry Co-op Milk Producers’ Union Ltd: The State bank of India (SBI) has signed an MoU with Pondicherry Co-op. Milk Producers’ Union Ltd (PONLAIT) for financing individual dairy farmers up to Rs 3 Lakh. The Loan will be made available through YONO application of the SBI Bank. SBI has introduced a technology product, named ‘SAFAL- Simple And Fast Agriculture Loan’ for financing individual Dairy farmers, who are supplying milk to commercial dairies on a regular basis.

About the agreement: Around 3,500 dairy farmers supplying milk to 98 primary milk societies of PONLAIT would be benefited by the arrangement. This was the first MoU signed in the Chennai circle of the bank which plans to enter into such agreements with commercial dairies throughout the country to finance farmers supplying milk to the dairies. The present arrangement to boost milk production with the help of bank loans would help the administration of the union territory to meet the daily requirement of milk.

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

 

2. Moody’s Projects India’s GDP growth forecast in FY22 at 9.3%: Moody’s Investors Service in its latest report has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. India recently hit record Covid-19 vaccination rates. Moody’s notes that the vaccination drive in India has gathered pace after the second wave. Around 30% of the population of India is now fully vaccinated with two doses while around 55% of the population has received at least one dose. Improved vaccination coverage has led to stabilisation in consumer confidence.

 

AWARDS AND HONOURS

 

1. S K Sohan Roy 1st Indian to be honoured with Knighthood of Parte Guelfa: Dr S K Sohan Roy from Kerala, CEO, and founder of Aries Group of Companies has become the first Indian to be honoured with the Knighthood of Parte Guelfa for his humanitarian and Environmental protection efforts in business and movies. The honorary title of “Knight of Parte Guelfa” has been conferred upon him during the conferring ceremony organized during the Investitures of Parte Guelfa of Annus Domini 2021 and was held at the Basilica of Santa Croce and the Palagio di Parte Guelfa in Florence, Italy.

Order of the Guelph Part: Order of the Guelph Part or Ordo Parte Guelfae which was initially known as Societas Partis Ecclesiae is an order of pontifical foundation established by Pope Clement IV in 1266. The Guelph part is concerned with environmental protection and the knighthood is recognised as the protector of the World Environment.

Dr Sohan Roy: Dr Sohan Roy, an Indian entrepreneur based in Sharjah, is a Naval Architect and Marine Engineer, an award-winning director and a poet. Forbes listed him among the top Indian leaders of the Arab World four times in a row between 2015 and 2019. Aries Punnamada Urukku Chundan, a steel snake boat developed by Sohan Roy’s Aries Marine, has been certified as the world’s largest canoe crew by Guinness World Records.