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Wednesday, December 15, 2021

Daily GK Update- 15th Dec, 2021

 

NATIONAL UPDATES:

 

1. Uttarakhand CM Pushkar Singh Dhami launched ‘Milk Price Incentive Scheme’: Chief Minister of Uttarakhand, Pushkar Singh Dhami has launched the ‘Milk Price Incentive Scheme‘ in Dehradun. The scheme is aimed to provide incentives benefiting around 53,000 people of Uttarakhand. The state government is targeting to spend INR 444.62 crore to open 500 milk sales centres in Uttarakhand. It is a Direct Bank Transfer (DBT) scheme, the amount under the scheme would go directly into the accounts of the beneficiaries through their linked bank accounts. In the Dehradun district, milk production and consumption are completely contradictory. On one hand, the government is making many attempts to enhance milk production, all government claims of promoting products are proving to be fictitious. Despite thousands of hours of labour, milk is not produced in accordance with demand.

The government has been making various attempts for enhancing milk production in the state, some of which include:

(1) Ganga Cow Scheme: Ganga cow scheme and incentive amount of Rs.3-4 per litre of milk was also announced by the government so that milk production could be promoted and consumption could be met in time.

(2) Kamdhenu Scheme: The scheme was started in Uttarakhand on the lines of UP.  Although there was a provision in Uttarakhand for a 25% subsidy for general farmers and a 33% subsidy for SC-ST on loans up to Rs.6 lakh for dairy under NABARD, farmers did not take advantage of it owing to a lack of knowledge.

Note: Uttarakhand Capitals: Dehradun (Winter), Gairsain (Summer); Uttarakhand Governor:  Lt Gen Gurmit Singh; Uttarakhand Chief minister: Pushkar Singh Dhami.

 

2. Haiderpur wetland in Uttar Pradesh recognised as Ramsar Site: The Haiderpur Wetland abutting the Madhya Ganga barrage, about 10 km from Bijnor in western Uttar Pradesh, has been recognised under the 1971 Ramsar Convention on Wetlands. Uttar Pradesh is now home to 9 Ramsar wetlands. The wetland has also been identified under Namami Gange, a central flagship, as a model wetland along the Ganga. With this, there are now a total of 47 such designated areas in the country. The Site supports more than 25,000 waterbirds, serves as a breeding site for the near-threatened Indian grassbird and provides refuge to the northern subspecies population of the vulnerable swamp deer during its seasonal flood-driven migration. The Site also regularly supports more than 1% of the population of greylag goose and bar-headed goose.

 

3. India Skills Report 2022 : Maharashtra Retains Top Position: The 9th edition of India Skills Report (ISR) 2022, released by Wheebox, Maharashtra has retained the top position in the list of states with the highest poll of employable talent followed by Uttar Pradesh and Kerala. The theme of ISR 2022 – ‘Rebuilding and Reengineering the Future of Work’.  India Skills Report is a full-fledged report about the future of work, education, and skilling to match the talent demand and supply in a growing India. States with Maximum Hiring Activity:

(1) Maharashtra, Karnataka, and Tamil Nadu are the 3 states that have a higher job demand.

(2) Pune is the city with the most highly employable resources with 78% of the test takers scoring above 60 per cent.

Top 5 States with Highest Employability:

 

Rank

State

Employability %

1

Maharashtra

66.1

2

Uttar Pradesh

65.2

3

Kerala

64.2

4

West Bengal

63.8

5

Karnataka

59.3

 

INTERNATIONAL UPDATES:

 

1. Olaf Scholz is sworn in as new German chancellor: German lawmakers officially elected Social Democrat, Olaf Scholz as the new chancellor, putting an end to 16 years of conservative rule under Angela Merkel. He will lead a government composed of his Social Democrat Party, the business-friendly Free Democrats and the Greens, a coalition of parties never tried before at the federal level in Germany. The 63-year-old, Scholz previously served as vice-chancellor and finance minister during the Merkel administration, was then sworn in as Germany’s next chancellor. Olaf Scholz has achieved the necessary majority of at least 369 votes. Based on article 63, paragraph 2 of the German Constitution he is elected chancellor of the Federal Republic of Germany.

Note: Germany Capital: Berlin; Germany Currency: Euro; Germany President: Frank-Walter Steinmeier.

 

2. Myanmar’s Aung San Suu Kyi sentenced to jail: Myanmar’s ousted civilian leader, Aung San Suu Kyi was sentenced to four years imprisonment after being found guilty on two charges, the first verdicts in a raft of criminal cases that the country’s military has brought against her since seizing power 10 months ago. Ms Suu Kyi was convicted of charges of incitement and violating pandemic rules. The 76-year-old Nobel Peace Prize laureate is facing a total of 11 charges which can bring in a maximum imprisonment of 102 years.

The court sentenced Suu Kyi to four years in prison: Suu Kyi has been found guilty on two charges — of inciting the public against the military and breaching the Covid-19 protocols in the country. The incitement charge stems from statements made on Facebook pages of Suu Kyi’s party after she was detained by the military, following a coup that prevented her from starting a second term in office.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

3. International Tea Day: 15th December: International Tea Day is observed every year on December 15 in countries like Bangladesh, Sri Lanka, Nepal, Vietnam, Indonesia, Kenya, Malawi, Malaysia, Uganda, India, and Tanzania. It is the second most used drink in the world after water. For some people, tea is an integral part of life which adds rhythm. China is currently the largest exporter of tea. According to a study conducted by the Tea Board of India in 2007, around 80 per cent of the total tea produced in India is consumed by the domestic population.

International Tea Day 2021 History: The first ITD was held in New Delhi in India in 2005. However, in 2015, the Indian government proposed to the UN Food and Agriculture Organisation to expand International Tea Day across the world. The reason for the UN celebrating May 21 as International Tea Day is that the season of tea production begins in May in most of the tea-producing countries.

 

OTHER UPDATES:

 

SPORTS

 

1. Sanket Mahadev Sargar won gold in Commonwealth Weightlifting Championships 2021: Sanket Mahadev Sargar won the gold medal in Men’s 55 kg snatch category at the ongoing Commonwealth Weightlifting Championships 2021. He created the national record by lifting 113kg in the men’s 55kg snatch category. Sargar has also qualified for the upcoming 2022 Commonwealth Games in Birmingham.

About the Commonwealth Weightlifting Championships 2021: Commonwealth Weightlifting Championships 2021 is being held in Tashkent along with World Weightlifting Championships 2021 from December 7 to 17. The Indian Contingent is participating in the Weightlifting Championships as well as the Commonwealth Senior Championships.

 

2. Manipur wins Senior Women’s National Football Championship: Manipur successfully defended their Senior Women’s National Football Championship crown after a dramatic penalty shootout win over Railways in the final at the EMS Stadium in Kozhikode, Kerala. After a dearth of goal-scoring chances in regulation and extra time, the match went to penalties with the scores at 0-0. Manipur goalkeeper Okram Roshini Devi produced three saves to give her side their 21st title at this level.

 

BANKING AND FINANCE

 

1. Paytm Payments Bank receives scheduled bank status from RBI: Paytm Payments Bank has been given the scheduled bank status by the Reserve Bank of India. The bank has been included in the Second Schedule to the Reserve Bank of India Act, 1934 and the approval will help it to bring more financial services and products. The bank supports 33.3 crore Paytm Wallets and enables consumers to make payments at over 87,000 online merchants and 2.11 crore in-store merchants. With the scheduled bank status:

(1) The bank can explore new business opportunities, including participation in government and other large corporations issued requests for proposals, primary auctions, fixed-rate and variable rate repos, and reverse repos.

(2) Besides, it can participate in Marginal Standing Facility and will be eligible to partner in government-run financial inclusion schemes.

(3) The inclusion of Paytm Payments Bank in the Second Schedule to the Reserve Bank of India Act, 1934, will help us innovate further and bring more financial services and products to the underserved and unserved population in India.

Note: Chairman of Paytm Payments Bank Ltd: Vijay Shekhar Sharma; MD and CEO of Paytm Payments Bank Ltd: Satish Kumar Gupta; Paytm Payments Bank Ltd Headquarters: Noida, Uttar Pradesh.

 

2. PayPhi launches tokenization service that supports RuPay cards: Phi Commerce’s API (Application programming interface) first digital payments platform, PayPhi has become the first certified tokenization service for NTS supporting tokenization of RuPay cards. Tokenization of cards as an alternate to storing card details with merchants. NPCI’s NTS platform enables PayPhi Tokenization service to provide partner merchants and aggregators with TROF. Token Reference On File (TROF) turns sensitive cardholder data into randomly generated 16 digit numbers called “token” with no meaningful value if breached. On the lines of the guidelines issued by the Reserve Bank of India (RBI) in September 2021 regarding tokenization of cards during online transactions, NPCI announced the launch of the NPCI Tokenization System (NTS).

Note: NPCI Founded: 2008; NPCI Headquarters: Mumbai, Maharashtra; NPCI MD & CEO: Dilip Asbe.

 

BUSINESS AND ECONOMY

 

1. Microsoft launched cybersecurity skills training programme in India: Microsoft has launched a cybersecurity skilling program with the goal of training over 1 lakh learners by 2022 to address the skills gap and prepare India’s workforce for a career in cybersecurity. The program is meant to give students hands-on experience with security, compliance, and identity fundamentals. About the courses:

(1) Courses will be conducted by Microsoft in collaboration with its strategic partners Cloud that, Koenig, RPS, and Synergetics Learning.

(2) This tie-up is part of Microsoft’s global skilling program, which aims to help 25 million individuals learn new digital skills throughout the world.

(3) In India, almost 3 million individuals have been trained through this project.

Note: Microsoft CEO and Chairman: Satya Nadella; Microsoft Headquarters: Redmond, Washington, United States.

 

DEFENCE

 

1. Ram Nath Kovind Presented ‘President’s Standard’ to Indian Navy Squadron: President of India, Ram Nath Kovind has presented the ‘President’s Standard’ to the 22nd Missile Vessel Squadron of the Indian Navy, which is also known as the Killer Squadron at the ceremonial parade held at the Naval Dockyard, Mumbai, Maharashtra. To mark this occasion, the postal department has released a special day cover and a commemorative stamp. The year 2021 also marks the 50 years of inception of the Missile Vessel Squadron, also known as Killers.

About 22nd Missile Vessel Squadron:

(1) The 22nd Missile Vessel Squadron carried out ‘Operation Trident’ and bombed Pakistan’s Karachi Port during the 1971 Indo-Pak war.

(2) The squadron has also taken part in several missions including Operation Vijay, Operation Parakram and also during the heightened security state following the 2019 Pulwama attack.

(3) The squadron had received several battle honours including 1 Maha Vir Chakra, 7 Vir chakras and 8 Nausena Medals(Gallantry).

(4) 22nd Missile Vessel Squadron was formally established in Mumbai, Maharashtra in October 1991 with 10 Veer Class and 3 Prabal class missile boats.

President’s Standard: President’s Standard is the highest honour bestowed by the President, the Supreme Commander, to a Military unit in recognition of the Service rendered to the nation. President’s Standard is the equivalent to that of President’s colours, but this is awarded to relatively smaller military formations or units.

 

2. DRDO test-fired air version of the BrahMos supersonic cruise missile: India successfully test-fired the air version of the BrahMos supersonic cruise missile from the integrated test range of Chandipur, off the coast of Odisha. The air version of the missile was test-fired from supersonic fighter aircraft Sukhoi 30 MK-I. BrahMos is a joint venture between DRDO (India) and NPO Mashinostroyeniya (Russia) for the development, production, and marketing of the supersonic cruise missile which has been inducted into the Indian Armed Forces. The missile derives its name from the rivers of Brahmaputra in India and Moskva in Russia.

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

Tuesday, December 14, 2021

Daily GK Update- 14th Dec, 2021

NATIONAL UPDATES:

 

1. UP cabinet approves Atma Nirbhar Krishak development scheme: Uttar Pradesh Cabinet has approved the Atma Nirbhar Krishak development scheme for boosting the agriculture sector. Atma Nirbhar Krishak development scheme will be implemented from the current financial year. Under this scheme, 1,475 Farmer Producer Organisations (FPOs) will be formed in the next three years in each development block. Under the scheme:

(1) The scheme will provide a long-term debt financing facility for investment in viable projects for postharvest management infrastructure and community.

(2) Rs 1 lakh crore will be provided by banks and financial institutions as loans to Primary Agricultural Credit Societies, Marketing Cooperative Societies, Self Help Groups, farmers, and joint liability groups.

(3) All loans will be provided with an interest subvention of 3 per cent per annum up to a limit of Rs 2 crore. The scheme will be funded through the Agriculture Infrastructure Fund (AIF).

Note: UP Capital: Lucknow; UP Governor: Anandiben Patel; UP Chief Minister: Yogi Adityanath.

 

2. Bhasha Sangam mobile app launched with 22 languages: Union Minister of State for Education, Dr Subhas Sarkar has informed that the government is all set to launch Bhasha Sangam mobile app. The mobile app is developed to give users familiarity with common expressions of daily conversation in scheduled Indian languages. The app has 100+ sentences, designed on different themes that allow people to learn basic conversation in 22 Indian languages, test themselves and generate online certificates. The app aims to foster the spirit of Ek Bharat Shreshtha Bharat by enabling people across India to learn the different languages of different states of India and come closer to their culture.

 

3. Ministry of Power kickstarts celebration of Energy Conservation Week: Ministry of Power is celebrated the Energy Conservation Week from 8th to 14th December 2021 under “Azadi ka Amrit Mahotsav”. Celebration by the Bureau of Energy Efficiency include three major activities i.e. National Painting Competition for school children, National Energy Conservation Awards (NECA) for Industries and establishments and National Energy Efficiency Innovation Awards (NEEIA) to recognize innovative energy efficiency technologies. The Bureau of Energy Efficiency has been organising National Level Painting Competitions on Energy Conservation for school children studying in 4th to 10th standard. This year, the themes for the competition are “Azadi ka Amrit Mahotsav: Energy Efficient India” and “Azadi ka Amrit Mahotsav: Cleaner Planet”.

 

4. National Energy Conservation Day 2021: 14th December: Every year on the 14th of December, National Energy Conservation day is celebrated in India. This occasion has been celebrated since 1991 when is led by the Ministry of power. This day is celebrated to raise awareness regarding the conservation of energy as it is the best way to have a greener and brighter future.

History of the day: Back in 2001, the Indian bureau of energy efficiency implemented the Indian energy conservation act which focused on formulating policies regarding energy conservation. since then on every 14th December various discussions, conferences, and workshops are organized to raise awareness regarding energy conservation. These events are organized across the country.

 

INTERNATIONAL UPDATES:

 

1. Canada, Australia and UK join US boycott of Beijing Olympic: Canada will join the United States, the United Kingdom and Australia diplomatic boycott of the Beijing Winter Olympics over human rights concerns. The announcement came after the White House, the Australian government and the UK government confirmed diplomatic boycotts of the Winter Games in February to protest Chinese human rights abuses. China has vowed to react with “firm countermeasures.” The diplomatic moves by Canada, the U.S., Britain and Australia do not affect their athletes’ ability to compete in the games.

Australia boycott Beijing Olympics: Australia took this decision amid a disagreement with China over several issues, ranging from Australia’s foreign interference laws to a move to acquire nuclear-powered submarines.

Canada boycott Beijing Olympics: Relations between Canada and China have been poor since China arrested two Canadians in China in Dec. 2018, shortly after Canada arrested Meng Wanzhou, Huawei Technologies’ chief financial officer and the daughter of the company’s founder, on a U.S. extradition request.

United Kingdom boycott Beijing Olympics: UK Prime Minister Boris Johnson said no ministers will attend due to alleged human rights abuses in China, which Beijing strongly denies.

The 2022 Winter Olympics: The 2022 Winter Olympics are an upcoming international winter multi-sport event. This event is scheduled to take place from February 4 to 20, 2022 in Beijing, China. It will be the first Winter Olympics in China as well as the last of three consecutive Olympics which is to be held in East Asia, after the 2018 Winter Olympics in South Korea, and the 2020 Summer Olympics in Japan.

 

2. World Inequality Report 2022 announced: France-based World Inequality Lab published its report titled “World Inequality Report 2022”. This report was authored by Lucas Chancel, who is the co-director of World Inequality Lab. It was coordinated by famed French economist Thomas Piketty. In 2021 the top 10 percent and top 1 percent of the Indian population hold 57 percent and 22 percent of total national income respectively, whereas the share of the bottom 50 percent has gone down to 13 percent.  Key Findings analysis on inequalities in India:

(1) The report notes that the top 1 % of India’s population owns more than one-fifth of the total national income in 2021.

(2) The bottom half of the population earns just 13.1 per cent.

(3) It highlights that economic reforms and liberalization that India has adopted, have mostly benefited the top 1 per cent.

(4) The report identifies India as a poor and unequal country, with an affluent elite.

(5) 1 per cent richest people in India hold 22% of the total national income in 2021, while the top 10 % owns 57 per cent of the income.

(6) The average national income of the Indian adult population is Rs 204,200 in 2021, on the basis of purchasing power parity.

(7) However, the report clarified that the average national income of a country masks inequalities.

The scenario in the world’s richest nation: The ratio in the richest nation that is the US, is 1 to 17. The richest ten of the global population owns 52 per cent of global income. On the other hand, the poorest half of the population earns 8.5 per cent of the global income.

Global Scenario: The Middle East and North Africa (MENA) are the most unequal regions in the world, whereas Europe has the lowest inequality levels. In Europe, the top 10 per cent income share is around 36 per cent, whereas in MENA it is 58 per cent.

 

3. FM Nirmala Sitharaman Ranked 37th on Forbes’ 2021 World’s 100 Most Powerful Women: Finance Minister(FM) of India, Nirmala Sitharaman has ranked 37th on the Forbes’ list of the World’s 100 Most Powerful Women 2021 or 18th Edition of Forbes’ list of the World’s 100 Most Powerful Women. She has been featured on the list for the 3rd year in a row. She was ranked 41st on the list in 2020 and 34th in 2019. India’s seventh woman billionaire and the wealthiest self-made billionaire, Falguni Nayar, founder and CEO, Nykaa was ranked 88th on the list. Only 4 Indian Women ranked in Forbes 2021 World’s 100 Most Powerful Women List.

Other Indian women on the list:

(1) Roshni Nadar Malhotra, Chairperson of the HCL Technology, the first woman to lead a listed IT company in India was ranked 52nd on the list.

(2) Kiran Mazumdar-Shaw, executive chairperson and founder of Biocon was ranked 72nd on the list. She founded India’s largest listed biopharmaceutical firm in India in 1978.

Highlights of the list:

(1) The 3rd richest woman in the world, MacKenzie Scott, philanthropist, author and ex-wife of Amazon founder Jeff Bezos was topped Forbes’ 2021 World’s 100 Most Powerful Women replacing the outgoing German chancellor Angela Merkel who topped the 15 out of 17 iterations of the list.

(2) Kamala Harris, the first woman and the first person of colour(Black) to become the Vice President of the United States of America was ranked 2nd on the list.

(3) Janet Yellen, the first woman to be named the U.S. Treasury Secretary has ranked 39th on the list.

(4) The list also features Oprah Winfrey (23), Jacinda Ardern (34), Rihanna (68), and others.

(5) Taylor Swift (31 years old) ranked 78th, is the youngest woman featured in the list and Queen Elizabeth II (95 years old) ranked 70th, is the oldest.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI imposed restrictions on Nagar Urban Co-operative Bank: The Reserve Bank of India has imposed several restrictions on Nagar Urban Co-operative Bank Ltd, Ahmednagar, Maharashtra, including restrictions on withdrawals up to Rs. 10,000 for customers. RBI has issued the directions in the exercise of powers vested in it under subsection (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the Banking Regulation Act, 1949 for six months. The bank shall not, without prior approval of RBI, grant or renew any loans and advances, make any investment, incur any liability, disburse any payment, transfer or otherwise dispose of any of its properties or assets. The bank will continue to undertake banking business with restrictions till its financial position improves.

Note: Nagar Urban Co-operative Bank Headquarters: Ahmednagar, Maharashtra; Nagar Urban Co-operative Bank Acting CEO:  V. Rokde; Nagar Urban Co-operative Bank Slogan: ‘One Family….. One Bank’.

 

2. Shivalik SFB with indiagold launches loan against digital gold: Shivalik Small Finance Bank (SSFB) signed a partnership agreement with fintech firm, Indiagold to launch India’s first Loan against Digital Gold. This agreement will enable customers to use their digital gold balance to avail of instant and digital loans up to Rs. 60,000 and also seamlessly access gold loans starting at a monthly interest of just 1%. To provide access to secure and affordable credit to the customers looking for quick liquidity against their gold assets.

Note: Shivalik Small Finance Bank Headquarters: Noida, Uttar Pradesh; Shivalik Small Finance Bank MD & CEO: Suveer Kumar Gupta.

 

BUSINESS AND ECONOMY

 

1. Fitch Ratings cuts India’s FY22 GDP Growth Forecast to 8.4%: Fitch Ratings has slashed India’s economic growth forecast in the financial year 2021-22 (FY22) to 8.4 per cent and raised the growth projection to 10.3 per cent for FY23, compared to October 2021 rating projections of 8.7 per cent (FY22) and 10 per cent (FY23). In the December report:

(1) India’s GDP grew 11.4 per cent in the Q2 FY22 over the April-June quarter of FY22 on a seasonally adjusted basis. The economy has contracted 4 per cent in the April-June quarter in FY22 over the fourth quarter of FY23.

(2) Indian economy had contracted by 7.3 per cent in FY21 due to COVID-19.

(3) The rating agency has expected the headline inflation to average 4.9 per cent in 2022 and 4.2 per cent in 2023, from 5 per cent in 2021.

(4) In India, less than one-third of the population is fully vaccinated and the new Omicron variant poses a new risk to the recovery.

Note: Fitch Ratings President: Ian Linnell; Fitch Ratings Headquarters: New York, United States.

 

AWARDS AND HONOURS

 

1. IIT-Kanpur Scientist Ropesh Goyal bags “Young Geospatial Scientist” Award: Ropesh Goyal from IIT-Kanpur won the ‘Young Geospatial Scientist’ award in recognition of his unique contribution to developing the Indian Geoid Model and computation software. Member of Space Commission, Government of India, and former ISRO Chairman AS Kiran Kumar presented the award to Goyal during the inaugural event of the DigiSmart India 2021 conference hosted by the Geospatial World.

About the award: The ‘Young Geospatial Scientist’ award and a gold medal have been presented every year since 2011 to promising scientists below 35 years of age in memory of Rachapudi Kamakshi, a strategic analyst with a strong inclination towards geography and geospatial studies. The Rachapudi Kamakshi Memorial Trust is an organisation founded to help and encourage students and young and talented individuals with great ideas and research work in the field of geospatial sciences.

 

OBITUARIES

 

1. Serum Institute of India ED Suresh Jadhav passes away: Serum Institute of India’s Executive Director Dr Suresh Jadhav has passed away. He played an important role in the development of the Covishield vaccine. He was part of several national and international bodies and organisations. Serum Institute of India is the world’s largest vaccine maker. It is the second company to apply for the approval of a vaccine candidate from the Drugs Controller General of India.

Monday, December 13, 2021

Daily GK Update- 13th Dec, 2021

 

NATIONAL UPDATES:

 

1. NITI Aayog launches ‘e-Sawaari India e-bus Coalition’: The National Institution of Transforming India (NITI) Aayog launched the ‘e-Sawaari India Electric Bus Coalition’ in partnership with Convergence Energy Service Ltd (CESL) and World Resources Institute, India (WRI India) and with the support from Transformative Urban Mobility Initiative (TUMI). The objective of the initiative is to share knowledge of various stakeholders – Central & State Govt. agencies, transit service providers, original equipment manufacturers (OEMs), on accelerating the process towards seamless adoption of e-bus services in India. Through, e-Sawaari India Electric Bus Coalition, the central-, state-, and city-level government agencies, transit service providers, original equipment manufacturers (OEMs), financing institutions, and ancillary service providers will be able to share knowledge and their learnings on e-bus adoption in India.

Note: World Resources Institute, India CEO: O P Agarwal; World Resources Institute, India Establishment: 2011; World Resources Institute, India Headquarters: Mumbai, Maharashtra.

 

2. Ken-Betwa River Interlinking Project approved by Cabinet: Ken-Betwa inter-linking of rivers project has been approved by the Union Cabinet, which is chaired by Prime Minister Shri Narendra Modi. At 2020-21 price levels, the overall cost of the Ken-Betwa link project has been estimated at Rs. 44,605 crore. The Union Cabinet has approved central support for the project in the amount of Rs. 39,317 crore, which includes a grant of Rs. 36,290 crore and a loan of Rs. 3,027 crore. About the project:

(1) The project will be implemented through a Special Purpose Vehicle (SPV) known as the Ken-Betwa Link Project Authority (KBLPA).”

(2) The project includes the construction of the Daudhan dam across river Betwa from Ken and the transfer of water through a canal connecting the two rivers, Lower Orr project, Kotha barrage- and Bina complex multipurpose project.

(3) The project will irrigate 10.62 lakh hectares annually, provide drinking water to a population of 62 lakhs, and generate 103 MW of hydropower and 27 MW of solar power.

 

3. Bala Krishna Madhur’s autobiography titled ‘At Home In The Universe’ released: An autobiography titled ‘At Home In The Universe’ by Bala Krishna Madhur was released by R.C. Sinha, IAS (Rtd), advisor to the Ministry of Road Development in Mumbai, Maharashtra. The book is the autobiography of B K Madhur, a former Chief Executive Officer at DHFL Property Services Ltd, and one of the key personalities in establishing Dewan Housing. The book offers an inside view into the policy environment in the 1980s and 1990s in the Housing Finance Sector. The book consists of early life hardships, experiences and life lessons of the author.

 

INTERNATIONAL UPDATES:

 

1. PM Modi holds India-Russia Summit 2021: Prime Minister Narendra Modi and Russian President Vladimir Putin held the 21st India-Russia Annual Summit to discuss the entire gamut of relations, including regional and global issues. During his visit, India and Russia signed 28 agreements. The leaders discussed on International North-South Transport Corridor and also about the Chennai – Vladivostok Eastern Maritime Corridor (which is under the proposal). The visit of the Russian President is a reflection of the country’s commitment to its ties with India. This is in need of the moment. Because the ties between India and Russia were buffeted by New Delhi’s ties with the US. Also, Russia was getting closer with China on the back of US sanctions, CAATSA and its annexation of Crimea in 2014. About the Summit:

(1) The countries agreed to extend the military-technical cooperation by another ten years. Currently, the indigenous production under this cooperation includes T – 90 tanks, MiG 29K aircraft, Su – 30 MKI, upgrade of MiG and supply of Multi Barrel Rocket Launcher Smerch. Both India and Russia are currently developing fifth-generation Fighter Aircraft and Multi-Role Transport Aircraft.

(2) Reserve Bank of India and Bank of Russia signed a pact to respond to cyberattacks.

(3) The leaders agreed that both the countries share common perspectives on the situation in Afghanistan. They agreed to implement a bilateral roadmap created to act upon Afghanistan.

(4) The Inter-Governmental Commission on Military and Military-Technical Cooperation was held. This commission was established in 2000.

 

2. Asia Power Index 2021: India Ranked as Fourth: According to Lowy Institute Asia Power Index 2021, India has ranked 4th most powerful country in the Asia-Pacific region for comprehensive power out of 26 countries, with an overall score of 37.7 out of 100. India’s overall score declined by 2 points compared to 2020. India again falls short of the major power threshold in 2021. India is one of 18 countries in Asia to trend downward in its overall score in 2021.

The top 10 countries for overall power in the Asia-Pacific region are: (1) United States; (2) China; (3) Japan; (4) India; (5) Russia; (6) Australia; (7) South Korea; (8) Singapore; (9) Indonesia and (10) Thailand

Note: Lowy Institute Chairman of the Board: Frank Lowy AC; Lowy Institute Headquarters: Sydney, Australia.

 

3. UNICEF Day 2021: 11th December: Every year, UNICEF Day is observed on December 11 to raise awareness about saving children’s lives by defending and helping them to fulfil their wishes. The day provides assistance for the health, nutrition, education, and welfare of children during World War II. UNICEF’s name was subsequently changed from United Nations International Children’s Emergency Fund to United Nations Children’s Fund though, it continued to be known by the popular acronym based on the previous title. The theme for this year is to help children recover from interruptions and learning losses experienced through pandemics in the last two years.

UNICEF Day 2021 History: The day was established after World War II to assist people who needed help and whose lives were at risk. Later in 1953, UNICEF became a permanent agency of the United Nations. In 1946, the United Nations General Assembly announced this day for United Nations International Children’s Emergency Fund (UNICEF).

 

OTHER UPDATES:

 

SPORTS

 

1. Indian Shuttler PV Sindhu won Silver at BWF World Tour Finals 2021: Indian Shuttler and 2-time Olympic medalist Pusarla V Sindhu, world’s number 7, won the silver at the 2021 Badminton World Federation (BWF) World Tour Finals, officially known as the HSBC BWF World Tour Finals 2021. The reigning world champion PV Sindhu has won the BWF World Tour finals in 2018 and became the only Indian to achieve the feat.

HSBC BWF World Tour Finals 2021 Winners:

 

Category

Winner

Runner-up

Women’s Singles title

An Se Young (South Korea)

PV Sindhu (India)

Men’s Single title

Viktor Axelsen (Denmark)

Kunlavut Vitidsarn (Thailand)

Men’s double Title

Takuro Hoki and Yugo Kobayashi (Japan)

Marcus Fernaldi Gideon and Kevin Sanjaya Sukamuljo. (Indonesia)

Women’s Double Title

Kim So-yeong and Kong Hee-yong (South Korea)

Nami Matsuyama and Chiharu Shida. (Japan)

 

 

BANKING AND FINANCE

 

1. City Union Bank & NPCI launched ‘On-the-Go’ wearable keychain: City Union Bank (CUB), in collaboration with National Payments Corporation of India (NPCI) and its manufacturing partner Seshaasai, has announced the launch of RuPay On-the-Go contactless wearable keychain for its debit card customers. This contactless wearable keychain will be part of their daily lifestyle and enable customers to tap and make cashless payments securely. About the On-the-Go solution:

(1) This On-the-Go solution allows the bank’s customers to carry payment cards on their keychains, making for fast and convenient payments up to ₹5,000 at all Rupay-enabled point of sale devices (PoS) without entering a PIN.

(2) This would increase digital payment behaviour among customers, especially the younger generation and students, by enabling faster check out and less waiting in queue with features to set the spending limit, enable/disable usage through net banking, and CUB’s All-in-One mobile app.

Note: City Union Bank Headquarters: Kumbakonam; City Union Bank CEO: Dr. N. Kamakodi; City Union Bank Founded: 1904.

 

2. Ujjivan Small Finance Bank named Ittira Davis as MD & CEO: The Board of Directors of Ujjivan Small Finance Bank appointed Ittira Davis as the MD and CEO of the bank. Davis has been appointed as the MD and CEO for a period of 3 years from the date of approval of the RBI or such other period as may be approved by RBI. Davis was the MD and CEO of Ujjivan Financial Services Limited from July 2018 from where he resigned in 2021.

About the Ittira Davis: He was with the Europe Arab Bank from July 2008 to October 2012 initially as the Managing Director – Corporate and Institutional Banking and then as an Executive Director. Davis has also previously worked with Citibank in India and the Arab Bank Group in the Middle East and has been associated with Ujjivan since 2015. He played a pivotal role in its transition into a Small Finance Bank.

Note: Ujjivan Small Finance Bank Headquarters: Bengaluru; Ujjivan Small Finance Bank Founder: Samit Ghosh; Ujjivan Small Finance Bank Founded: 28 December 2004.

 

BUSINESS AND ECONOMY

 

1. Paytm partnered with AWS to offer startup Toolkits for entrepreneurs: Paytm, a leading digital ecosystem for consumers and merchants has partnered with Amazon Web Services (AWS) to offer Paytm Startup Toolkit with exclusive payment services to early-stage Indian startups. Paytm will help entrepreneurs to grow businesses with payment, distribution, and growth solutions who are operating in India in the AWS Activate.

About the Paytm Startup Toolkit: The Paytm Startup Toolkit is a single-stop platform that offers solutions in the domain of payments, payouts, banking and distribution with services including Paytm Payment Gateway, which helps businesses accept digital payments on their website, app; Paytm Payouts, which helps companies streamline their payments to employees, vendors, distributors and channel partners; and Paytm Payments Bank including nodal banking, which provides truly digital banking. Benefits of the toolkit:

(1) To help startups enhance brand visibility and grow their customer base, the Paytm Startup Toolkit also provides access to Paytm Mini Apps, which enables developers to set up low-cost, quick-to-build mini-apps which can be built using Open Source technologies like HTML and JavaScript.

(2) The Mini app store allows developers to integrate seamlessly with Paytm identity and payment services, and Paytm Ads, which offers flexible and cost-effective advertising solutions for brands where they can hand-pick their target audience and also find look-alike segments best suited for their campaigns.

Note: Paytm Founded: August 2010; Paytm Headquarters: Noida, Uttar Pradesh, India; Paytm CEO: Vijay Shekhar Sharma.

 

AWARDS AND HONOURS

 

1. Nilmani Phookan Jr and Damodar Mauzo receive Jnanpith Award: Assamese poet Nilmani Phookan Jr won the 56th Jnanpith Award and Konkani novelist Damodar Mauzo won the 57th Jnanpith Award. The country’s highest literary award, the Jnanpith is bestowed on writers for “their outstanding contribution to literature”. Jnanpith Award is a literary award presented by the Bharatiya Jnanpith organization to Indian writers every year. This was instituted in 1961 and is given only to Indian writers who write in Indian languages and English.

About the Nilmani Phookan Jr: Phookan is a Sahitya Akademi and Padma Shri awardee. Based out of Guwahati, he is a poet of renown and has written Surya Henu Nami Ahe Ei Nodiyedi, Gulapi Jamur Lagna, and Kobita. Phookan was awarded the Padma Shri in 1990 and received the Sahitya Akademi Fellowship in 2002. Phookan is the third Assamese writer to have received the Jnanpith. The previous awardees were Birendra Kumar Bhattacharya in 1979 and Mamoni Raisom Goswami in 2000.

About the Damodar Mauzo: Mauzo is based out of Majorda, Goa, and has previously won the Sahitya Akademi Award. He is known for his novels, such as Karmelin, and Tsunami Simon, and short stories Teresa’s Man and Other Stories from Goa. This is the second Jnanpith Award for a Konkani writer— the first being Ravindra Kelekar in 2006.

 

OBITUARIES

 

1. Padma Shri awardee Nanda Kishore Prusty passes away: Padma Shri awardee who is a well-known teacher from Odisha, Nanda Kishore Prusty (Nanda Sir), passed away. On 9th November 2021, he was conferred with the Padma Shri award for his contributions in the field of education. He belonged to Kantira village in Jajpur district, Odisha. Nanda Kishore Prusty, a Class 7 pass out has dedicated several decades of his life in providing free education to children and adults in Jajpur and thus best known for his selfless dedication towards eradicating illiteracy in Odisha.

Sunday, December 12, 2021

Daily GK Update- 12th Dec, 2021

 

NATIONAL UPDATES:

 

1. Union Minister S Jaishankar addressed 5th Indian Ocean Conference: Union Minister of External Affairs (EAM) Subrahmanyam Jaishankar has visited Abu Dhabi, United Arab Emirates (UAE) to attend the 5th Indian Ocean Conference on December 4-5, 2021. The theme of the conference was ‘Indian Ocean: Ecology, Economy, Epidemic’. The Conference is chaired by Sri Lankan President, Gotabaya Rajapaksa & Vice Chairs are S.Jaishankar, Vivian Balakrishnan, Sayyid Badr Bin Hamad Bin Hamoud Al Busaidi.

Some important points discussed in the conference:

(1) The conference is being organised by India Foundation in collaboration with the RSIS Singapore, Institute of National Security Studies (INSS), Sri Lanka, and the Emirates Centre for Strategic Studies and Research (ECSSR), UAE.

(2) This year the conference is dealing with the challenges faced by the Indian ocean, due to the effects of the pandemic, economic decline and climate change.

(3) Addressing the event, Dr S Jaishankar highlighted China’s growing power in the region.

(4) The External Affairs Minister also met his counterparts from the UAE and Oman and discussed bilateral cooperation with them before the start of the international conference.

 

2. ‘She is a Changemaker’ programme launched by National Commission for Women: National Commission for Women (NCW) has launched a pan-India capacity building programme, ‘She is a Changemaker’ for women representatives at all levels, gram panchayats to parliament members and political workers including office bearers of National/State political parties. The programme was launched by Ms Rekha Sharma, Chairperson of the National Commission for Women. To improve leadership skills of grassroots women political leaders.

About the programme: The official launch of training programmes under the ‘She is a Changemaker’ series was held in collaboration with Rhambhau Mhalgi Prabodhini, Thane, Maharashtra. The three-day capacity building programme for ‘Women in Municipal Corporation’ will be organised from 7thto 9th December. The capacity building programme will be undertaken in association with region-wise training institutes with an objective to undertake capacity building of women political leaders and improve their decision making and communication skills including, oration, writing, etc.

Note: National Commission for Women Formed: 1992; National Commission for Women Headquarters: New Delhi.

 

3. Kazhuveli Wetland declared as 16th Bird Sanctuary of Tamil Nadu: The Kazhuveli wetland situated in Villupuram district of Tamil Nadu has been declared as the 16th Bird Sanctuary by Surpiya Sahu, Environment and Forest Secretary, at the Minister of Environment Forest and Climate Change. The declaration was made under subsection (1) of section 18 of the Wildlife (Protection) Act, 1972. The Kazhuveli wetlands is referred to as the 2nd largest Brackish Water Lake in South India, only after Pulicat lake. About Kazhuveli Bird Sanctuary:

(1) It covers 5,151.60 hectares of land in Vanur taluk and 3,027.25 hectares in Marakkanam taluks.

(2) The sanctuary lies adjacent to the Bay of Bengal along the East coast of Tamil Nadu.

(3) Kazhuveli is a wetland of international importance that is spread over 670 square km in the east coast of Tamil Nadu.

(4) Note- Southern part of the wetland was declared reserved land in the year 2001.

(5) The Sanctuary covers 13 villages in the Villupuram district.

(6) The place is home to a diverse species of flora and fauna, giving accommodation to long-distance migrant birds from Central Asia and Siberia.

Note: Tamil Nadu Capital: Chennai; Tamil Nadu Chief Minister: MK Stalin; Tamil Nadu Governor: R.N.Ravi; Tamil Nadu State Dance: Bharathanatyam.

 

4. FICCI appoints Sanjiv Mehta as its President: The Federation of Indian Chambers of Commerce and Industry (FICCI) announced that Sanjiv Mehta, the Chairman and Managing Director of Hindustan Unilever Limited (HUL), will be appointed as its President. Mehta, presently the Senior Vice President of FICCI, will be succeeding media industry veteran Uday Shankar. Mehta is also the President of Unilever South Asia (India, Pakistan, Bangladesh, Sri Lanka & Nepal), and is a member of the ‘Unilever Leadership Executive’ which is Unilever’s Global Executive Board.

Note: FICCI Founded: 1927; FICCI Headquarters: New Delhi; FICCI President: Harshavardhan Neotia; FICCI Secretary General: Arun Chawla.

 

INTERNATIONAL UPDATES:

 

1. US announces diplomatic boycott of Beijing Winter Olympics: The Biden administration has announced that US officials will not attend the 2022 Winter Olympics in Beijing after China pledged unspecified “countermeasures” against any such diplomatic boycott. The US cited that “China’s human rights ATROCITIES” is the main reason for its boycott. The US has named the boycott as “Diplomatic Boycott”. It means that the US is not sending any official or diplomatic representation to participate in the Olympics. However, the US is allowing American athletes to participate in the Olympics. The US is boycotting for the following human rights atrocities of China: Situations in Taiwan and Tibet, The crackdown in Hong Kong and Abuse of minority Muslim Uyghurs in Xinjiang.

 

2. International Day of Neutrality: 12th December: International Day of Neutrality is a United Nations recognized day held on December 12 each year to raise public awareness of the value of neutrality in international relations. It was officially declared by a UN General Assembly resolution adopted in February 2017 and first observed on December 12, 2017.

About Neutrality: Neutrality defined as the legal status arising from the abstention of a state from all participation in a war between other states, the maintenance of an attitude of impartiality toward the belligerents, and the recognition by the belligerents of this abstention and impartiality is critically important for the United Nations to gain and maintain the confidence and cooperation of all in order to operate independently and effectively, especially in situations that are politically charged.

History of the Day: On 2 February 2017, the UN General Assembly adopted without a vote resolution 71/275 — introduced by Turkmenistan, recognized by the UN as a permanently neutral state since 12 December 1995, which noted the link between the preservation of peace and the 2030 Agenda for Sustainable Development, and declared 12 December as the International Day of Neutrality.

 

3. International Universal Health Coverage Day: 12th December: International Universal Health Coverage Day is a United Nations’ recognized international day celebrated every year on December 12. International Universal Health Coverage Day aims to raise awareness of the need for strong and resilient health systems and universal health coverage with multi-stakeholder partners. Each year on 12 December, UHC advocates raise their voices to share the stories of the millions of people still waiting for health, champion what we have achieved so far, call on leaders to make bigger and smarter investments in health, and encourage diverse groups to make commitments to help move the world closer to UHC by 2030. This year theme of International Universal Health Coverage Day is “Leave No One’s Health Behind: Invest in health systems for all.”

History of the day: On 12 December 2012, the United Nations General Assembly endorsed a resolution urging countries to accelerate progress toward universal health coverage (UHC) – the idea that everyone, everywhere should have access to quality, affordable health care – as an essential priority for international development. On 12 December 2017, the United Nations proclaimed 12 December as International Universal Health Coverage Day.

 

OTHER UPDATES:

 

SPORTS

 

1. Russia defeated Croatia to win Davis Cup tennis tournament 2021: The Davis Cup 2021 was won by the Russian Tennis Federation by a 2-0 lead over Croatia in the Davis Cup final in Madrid. Medvedev defeated Marin Cilic in the second singles match to give Russia an insurmountable 2-0 lead over Croatia and its first Davis Cup title since 2006. Croatia also was seeking its third title after triumphs in 2005 and 2018. Andrey Rublev was named the Most Valuable Player. The Russian team is officially being called RTF (Russian Tennis Federation) in the competition amid its ongoing doping suspension in international sport.

 

BANKING AND FINANCE

 

1. RBI Monetary Policy: Repo rate unchanged for the 9th consecutive time: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) headed by Reserve Bank of India (RBI) Governor Shaktikanta Das kept the repo rate unchanged at 4 per cent for the ninth consecutive time while maintaining an ‘accommodative stance’ as long as necessary. The reverse repo rate will continue to be 3.35 per cent. The central bank had last revised the policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting the interest rate to a historic low.  The meeting was held between December (6 to 8). The remaining will take place in February (7 to 9, 2022).

The Marginal Standing Facility (MSF) rate and bank rates remain unchanged:

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) The projection for real GDP growth is retained at 9.5% in 2021-22, consisting of 6.6% in Q3, & 6% in Q4. Real GDP growth is projected at 17.2% for Q1 of 2022-23 and at 7.8% for Q2 of 2022-23.

(2) The inflation projection was retained for FY22 at 5.3%, 5.1% for Q3, 5.7% for Q4, and 5% for Q1 FY23.

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.

 

DEFENCE

 

1. Pune to host joint military exercise PANEX-21 with BIMSTEC countries: PANEX-21 is a Humanitarian Assistance and Disaster Relief Exercise. It is to be held for the BIMSTEC countries. The exercise is to be held among the BIMSTEC countries: Bhutan, Bangladesh, Nepal, Myanmar, Sri Lanka, India and Thailand. The main aim of the exercise is to build regional cooperation in responding to natural disasters. It is to be conducted in Pune from December 20 to December 22. About the exercise:

(1) The participants of the exercise will be divided into eight syndicates. One syndicate from the participating countries and two from India.

(2) It will analyse the capabilities of member states in responding to the natural disasters. The countries will share their best practices.

(3) The exercise will review the procedures of preparedness and response. It will then recommend the evolution of organised structure.

(4) During the exercise, the countries will discuss military–to–military cooperation protocol.

 

2. India-Maldives joint military Exercise EKUVERIN in Maldives: The 11th edition of Exercise EKUVERIN-21 between India and Maldives, held at Kadhdhoo Island, Maldives. Ekuverin means “Friends” in the Dhivehi language. It is an Indo – Aryan language. It is spoken in India, Lakshadweep and Maldives. The exercise enhances synergy and inter-operability between the Armed Forces of both nations in terms of understanding transnational terrorism both on land and at sea, conducting Counter-Terrorism and Counter-Insurgency Operations and sharing best military practices and experiences.

Besides rigorous training, the joint military exercise will also include cultural and sports activities to enhance defence cooperation and bilateral relations. The exercise will go a long way in strengthening India’s relations with the Maldives amidst emerging security dynamics in the Indian Ocean Region. The Exercise is being conducted between India and Maldives since 2008. In 2019, the exercise was held in Pune, Maharashtra and in 2018, it was held in the Maldives.

 

OBITUARIES

 

1. World’s Oldest Test Cricketer, Eileen Ash passes away: World’s oldest Test Cricketer, former English legend, Eileen Ash passed away at the age of 110. The right-arm seamer made her debut to the national side in 1937 against Australia and in a career spanning till 1949, she took 10 wickets in the seven matches she played. Her career was interrupted by the Second World War – she was seconded to MI6, the UK’s intelligence service – and retired from the sport in 1949. Eileen Ash was given the honour of ringing the bell at Lord’s in the Finals of the 2017 ICC Women’s World Cup where the host, England have crowned the champions after beating India in a thrilling Finals.