Daily GK Update- 27th, May 2021

 

NATIONAL UPDATES:

 

1. Maharashtra govt launches “Mission Oxygen Self-Reliance”: Maharashtra government has launched the “Mission Oxygen Self-Reliance” scheme to meet the state’s oxygen needs. Special incentives will be given to oxygen-producing industries under this scheme. At present, the state’s oxygen generation capacity is 1300 MT per day. Units set up in Vidarbha, Marathwada, Dhule, Nandurbar, Ratnagiri and Sindhudurg regions will be eligible for incentives up to 150 per cent of their eligible fixed capital investments and units set up in the rest of Maharashtra will be eligible for up to 100 per cent general incentives.

The government will also give a refund on gross SGST, stamp duty, electricity duty and unit subsidy of power cost for five years and interest subsidy for MSME units with a fixed capital investment of up to Rs 50 crore. Only those applying before June 30 will get the benefits of this policy. With these incentives, Maharashtra’s healthcare system is expected to be strengthened by increasing manufacturing and storage for becoming an oxygen self-reliant state soon.

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

 

2. Haryana govt launches ‘SanjeevaniPariyojana’ to treat COVID patients at home: Haryana government has launched an anti-Covid “SanjeevaniPariyojana”, which will provide supervised and quick medical care at home for people, with mild to moderate symptoms of Covid-19, residing in rural areas. This Pariyojana has been launched to extend medical care in rural areas where awareness regarding the second wave of Covid-19 and related treatment remains low. It is an important step of bringing medical care for the people who need it most and when they need it most.Under the initiative:

(1) The scope of medical advice will be expanded beyond qualified doctors as it will mobilize 200 final year and pre-final year medical students and interns by connecting them to consultants and experts.

(2) The initiative comprises an Integrated Command and Control Centre to manage critical resources such as ambulance tracking, oxygen supply, hospital beds availability, besides, door-to-door awareness campaign.

(3) Thus, it will help the district administration in keeping a bird’s eye view of the entire healthcare system.

Note: Haryana Capital: Chandigarh; Haryana Governor: Satyadev Narayan Arya; Haryana Chief Minister: Manohar Lal Khattar.

 

3. Uttarakhand CM declared Vatsalya Yojana for children orphaned due to Corona: Uttarakhand Chief Minister Tirath Singh Rawat has announced Chief Minister Vatsalya Yojana for orphaned children who have lost their parents due to Covid-19. Under the scheme, the State Government will make arrangements for their maintenance, education and training for employment up to the age of 21 years. The Chief Minister said that such orphaned children of the state will be given a maintenance allowance of 3000 rupees per month.

The state government will make laws for the paternal property of these orphans in which no one will have the right to sell their paternal property until they are adults. This responsibility will be with the District Magistrate of the concerned district. The Chief Minister also said that the children whose parents have died due to Covid-19 will be given 5 per cent horizontal reservation in government jobs of the state government.

Note: Chief Minister of Uttarakhand: Tirath Singh Rawat; Governor of Uttarakhand: Baby Rani Maurya.

 

INTERNATIONALUPDATES:

 

1. UK launches plan for ‘Global Pandemic Radar’: The United Kingdom will develop an advanced international pathogen surveillance network to identify Covid-19 variants and emerging diseases. This Global Pandemic Radar will ensure the early detection of new variants and emerging pathogens, so vaccines and treatments needed to stop them can be rapidly developed. Prime minister Boris Johnson announced the plans, ahead of the Global Health Summit hosted by Italy and the European Union (EU).

About the radar: The radar is expected to be fully up and running with a network of surveillance hubs before the end of 2021, with the aim of significantly improving global health security going into next year. WHO will lead an implementation group, supported by global health charity the Wellcome Trust, to launch the new international partnership to identify, track and share data on new coronavirus variants and monitor vaccine resistance in populations.

Note: UK Prime Minister: Boris Johnson; UK Capital: London.

 

2. IMF proposes $50 billion global vaccination plan: The International Monetary Fund has proposed a $50 billion global vaccination plan that would cover at least 40 per cent of the global population by the end of 2021 and at least 60 per cent by the first half of 2022. The vaccination target requires additional upfront grants to Covax, donating surplus doses and free cross-border flows of raw materials and finished vaccines. With strong and coordinated action now and with little in terms of financing relative to the outsized benefits the world can durably exit this unprecedented health and economic crisis, IMF Managing Director Kristalina Georgieva said in her address to the G20 Health Summit.

Note: IMF Headquarters: Washington, D.C. U.S; IMF Managing Director and Chairman: Kristalina Georgieva; IMF Chief Economist: Gita Gopinath.

 

3. World’s largest iceberg breaks off from Antarctica: European Space Agency (ESA) has confirmed using satellite images that the world’s largest iceberg has broken off Antarctica. Named as A-76, the iceberg was 4320 square kilometres in size, which is half the size of the Andaman and Nicobar Islands. The finger-shaped iceberg broke off from the Ronne Ice shelf, a massive ice shelf that encompasses an area of more than 400,000 sq. km. The images were captured by Copernicus Sentinel-1. The Copernicus Sentinel spacecraft is the first ESA Earth Observation spacecraft to implement communications security on the command link.

 

OTHER UPDATES:

 

SPORTS

 

1. Atletico Madrid clinch La Liga title: Atletico Madrid pipped city rivals Real Madrid to the La Liga title on 22nd May Luis Suarez fired them to a 2-1 comeback win at Real Valladolid. Atletico finished top of the standings on 86 points while Real, who snatched a late 2-1 win over Villarreal, came second on 84. Valladolid finished 19th and was relegated to Spain’s second division.

 

2. NarinderBatra re-elected as FIH President: NarinderBatra has been re-elected as the President of the International Hockey Federation (FIH) for the second consecutive term. He was elected during the virtual 47th Congress of FIH, where he beat Marc Coudron, Chief of Belgium Hockey Federation, by just two votes. He will hold the office until 2024 because the FIH has reduced the term from four to three years. The veteran Indian sports administrator is the only Asian to be appointed to the top post in the world body’s 92-year-old history. He is also the President of the Indian Olympic Association (IOA) and a Member of the International Olympic Committee (IOC).

Note: International Hockey Federation (FIH) Headquarters: Lausanne, Switzerland; International Hockey Federation CEO: Thierry Weil; International Hockey Federation Founded: 7 January 1924.

 

BANKING AND FINANCE

 

1. Kotak Mahindra Bank issues India’s first FPI licence to GIFT AIF: Kotak Mahindra Bank has issued the first-ever foreign portfolio investor (FPI) licence to the GIFT IFSC alternative investment fund (AIF) of True Beacon Global. This is the first FPI licence issued to an AIF incorporated in GIFT IFSC by any custodian bank or designated depository participant (DDP) in the country. AIF is an important business vertical at GIFT IFSC and offers huge benefits and a competitive edge for setting up a fund in IFSC at GIFT City. In partnership with Kotak Mahindra Bank, True Beacon launched its first AIF in GIFT-City with PricewaterhouseCoopers(PWC) as consultants.

Note: Kotak Mahindra Bank is India’s first non-banking finance company which is converted into a bank;Kotak Mahindra Bank Establishment: 2003 (Kotak Mahindra Finance Ltd. was established in 1985, converted to Kotak Mahindra Bank in 2003); Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra; Kotak Mahindra Bank MD & CEO: Uday Kotak; Kotak Mahindra Bank Tagline: Let’s Make Money Simple.

 

2. Rajesh Bansal appointed as CEO of Reserve Bank Innovation Hub: The Board of Reserve Bank Innovation Hub (RBIH) has appointed Rajesh Bansal as the chief executive officer (CEO) of the RBIH with effect from May 17, 2021, the RBIH said in a statement. The Reserve Bank Innovation Hub would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups.

About Rajesh Bansal: Bansal has over twenty-five years of experience in designing technology-led population-scale payment products, electronic cash transfers, digital financial services and digital IDs to enable inclusive development in India and multiple Asian and African markets. He was a member of the founding team of Aadhaar where he played a key role in designing India’s Direct Benefits Transfer system and electronic KYC (eKYC).

 

AWARDS AND HONOURS

 

1. Kerala’s Shaji N.M. wins India Biodiversity Award 2021:Shaji N.M., fondly called as ‘Tuber Man’ of Kerala has been awarded the India Biodiversity Award 2021 in the individual category of ‘Conservation of domesticated species’. The award, carrying ₹2 lakh cash prize and citation, was declared during the International Day for Biological Diversity (IDB) 2021. Shaji, who conserves a wide array of around 200 tuber crops including greater yam, lesser yam, elephant foot yam, arrowroot, colocasia, sweet potato, cassava and Chinese potato in his farm has received State awards seven times for his efforts. He has also received the Plant Genome Savior Reward 2015, instituted by PPV&FR Authority, New Delhi.

 

OBITUARIES

 

1. China’s ‘father of hybrid rice’ Yuan Longping passes away: Chinese scientist Yuan Longping, renowned for developing a hybrid rice strain that vastly improved the grain output in the country, passed away at the age of 91. Yuan succeeded in cultivating a high-yield hybrid rice strain in 1973, which was later grown on a large scale in China and other countries to substantially raise output. 

Daily GK Update- 26th, May 2021

 

NATIONAL UPDATES:

 

1. Donations related to Covid-19: Haryana, Gujarat reimburse GST: Haryana and Gujarat have become the first few states to announce reimbursement of Goods and Services Tax (GST) components paid for Covid-19 related medical supplies. These medical supplies include oxygen concentrators, ventilators, medicines which would be donated free of cost to the state governments. Waiver from Haryana is till June 30, while that of Gujarat is valid till July 31.

Gujarat has announced reimbursement of IGST levied as part of customs on import of Covid related supplies. Haryana has gone a step further by announcing reimbursement of even the Centre’s GST component by deciding to pay back all state, central or IGST portions on Covid related supplies to the state government. The Centre had earlier waived IGST till June 30 on the import of Covid-related relief material donated or received from outside India for free distribution.

Note: Gujarat Chief Minister: Vijay Rupani; Gujarat Governor: Acharya Devvrat.

Haryana Capital: Chandigarh; Haryana Governor: Satyadev Narayan Arya; Haryana Chief Minister: Manohar Lal Khattar.

 

2. Hero Group launches ed-tech platform ‘Hero Vired’: The Munjal family-led Hero Group has launched a new education technology startup ‘Hero Vired’, which will offer an end-to-end learning ecosystem. Through this new edtech venture, Hero Group aims to enter the ed-tech space. The platform will offer learners overall professional development to make them industry-ready for employment.Hero Vired has partnered with top global universities, such as Massachusetts Institute of Technology (MIT) and Singularity University, to offer full-time and part-time programs in finance and financial technologies; game design; integrated programs in data science, machine learning (ML) and artificial intelligence (AI); entrepreneurial thinking and innovation; and full-stack development.

Note: CMD of Hero Group: Pankaj M Munjal; Hero Group HQ: New Delhi;

 

3. ‘India and Asian Geopolitics: The Past, Present’ is authored by Shivshankar Menon: A book has titled ‘India and Asian Geopolitics: The Past, Present’ is authored by Shivshankar Menon. He was the Prime Minister’s National Security Adviser and Foreign Secretary, is exploring these phases in their historical context to tell the story of how India weathered the many geopolitical storms of the past in his latest book. Menon has taken a different approach to history. He underscores the seriousness of China taking Tibet in 1950, which, according to him, was a pivotal moment in India-China relations, but challenges the argument that India failed to stop the Chinese invasion.

 

INTERNATIONALUPDATES:

 

1. Italy hosts the Global G20 Summit: The Global G20 Health Summit was co-hosted by European Commission along with Italy as part of its G20 presidency amid the surge and spread of coronavirus cases. The summit adopted the agenda to overcome the Covid-19 pandemic. It also decided to develop and endorse a Rome Declaration of principles. Summit noted the risk of more transmissible variants has increased with nine people losing their lives to Covid-19 per minute. As per WHO officials, the future of the pandemic is in hands of G20 leaders. G20 has also contributed to the launch of ACT-Accelerator as it was launched after G20 called for a global mechanism to accelerate the development of tests, treatments and vaccines.

Note: Italy Capital: Rome; Italy Currency: Euro; Italy President: Sergio Mattarella.

 

2. Forbes Highest paid Athletes list 2021 released: Forbes has unveiled its annual list of the 10 highest-paid athletes of the year. UFC star Conor McGregor has topped the Forbes list by earning $180 million in the past year beating soccer superstars Lionel Messi and Cristiano Ronaldo to become the highest-paid athlete in the world. The factors used by Forbes’ for calculation include all prize money, salaries and bonuses earned between May 1, 2020, and May 1, 2021.Ranking Index:

 

Rank	Name	Sports	Earning
1	Conor McGregor (Ireland)	MMA	$180 million
2	Lionel Messi (Argentina)	Soccer	$130 million
3	Cristiano Ronaldo (Portugal)	Soccer	$120 million
4	Dak Prescott (United States)	Football	$107.5 million
5	Lebron James (United States)	Basketball	$96.5 million
6	Neymar (Brazil)	Soccer	$95 million
7	Roger Federer (Switzerland)	Tennis	$90 million
8	Lewis Hamilton (United Kingdom)	Formula 1	$82 million
9	Tom Brady (United States)	Football	$76 million
10	Kevin Durant (United States)	Basketball	$75 million

 

3. Vesak Day 2021: 26th May: Vesak Day 2021 is observed globally on 26 May. Vesak, the Day of Full Moon is the most sacred day to Buddhists all over the world. On this day, Lord Gautham Buddha attained enlightenment. The Day is commemorated by the United Nations every year.

History of Vesak Day: The Day is being celebrated by the United Nations since 2000. The resolution to celebrate the day was passed in 1999. Since 2004, International Vesak Summit is being organized. In 2019, it was held in Vietnam. So far, the summit has been held 11 times in Thailand, 3 times in Vietnam and 1 time in Sri Lanka. The decision to celebrate the birthday of Buddha as Vesak Day was first formalized at the World Fellowships of Buddhists conference that was held in Sri Lanka in 1950. The conference was attended by Buddhist leaders from several countries.

 

OTHER UPDATES:

 

SPORTS

 

1. FIFA U-17 women’s World Cup to be held in India in October 2022: The U-17 women’s World Cup will be held in India from October 11 to 30 next year, Fifa Council said on 21st May. India was earlier scheduled to host the 2020 U-17 World Cup but it was postponed to 2021 before being cancelled due to the Covid-19 pandemic. The FIFA Council approved key dates for the international match calendars, including the dates of the 2022 U-17 World Cup in India.

The Council also approved dates for the FIFA U-17 Women’s World Cup India 2022 (11-30 October 2022), FIFA U-20 Women’s World Cup Costa Rica 2022 (10-28 August 2022), as well as a 14-team playoff for the FIFA Arab Cup 2021, taking place between 19 and 25 June this year and Women’s World Cup Australia and New Zealand 2023 from July 20 to August 20, 2023.

Note: President of FIFA: Gianni Infantino; Founded: 21 May 1904; Headquarters: Zürich, Switzerland.

 

2. HimantaBiswaSarma elected to BWF Council: The Badminton Association of India (BAI) President HimantaBiswaSarma has been elected as a Member of the c for the period 2021-25. Sarma was elected among 31 contestants to the 20-member BWF Council on May 22, 2021, at the virtual AGM and Council election of BWF, where he got 236 votes in favour. He is also the Vice President of Badminton Asia and the Chief Minister of Assam.

Note: Badminton World Federation Headquarters: Kuala Lumpur, Malaysia; Badminton World Federation President: Paul-Erik Hoyer Larsen.

 

BANKING AND FINANCE

 

1. RBI increases the limit for Full-KYC PPIs to Rs 2 lakh from Rs 1 lakh: The Reserve Bank of India has increased the maximum amount outstanding in respect of full-KYC PPIs (KYC-compliant PPIs) from Rs. 1 lakh to Rs. 2 lakh. Apart from this, The Reserve Bank of India (RBI) has mandated that all prepaid payment instruments (PPIs) or mobile wallets such as Paytm, PhonePe and Mobikwik are fully KYC-compliant be made interoperable by March 31, 2022. The PPI issuers will have to provide interoperability through authorised card networks (for PPIs in the form of cards) and UPI (for PPIs in the form of electronic wallets). Interoperability shall be mandatory on the acceptance side as well. PPIs for Mass Transit Systems (PPI-MTS) shall remain exempted from interoperability. It will be optional for Gift PPI issuers to have the option of interoperability.

RBI has also permitted cash withdrawal from Full-KYC PPIs of Non-Bank PPI Issuers. The condition on such cash withdrawal shall be:

(1) Maximum limit of Rs. 2,000 per transaction with an overall limit of Rs. 10,000 per month per PPI.

(2) All cash withdrawal transactions performed using a card/wallet shall be authenticated by an Additional Factor of Authentication (AFA) / PIN;

(3) RBI has increased the limit of cash withdrawal from Points of Sale (PoS) terminals using debit cards and open system prepaid cards (issued by banks) to Rs 2000 per transaction within an overall monthly limit of Rs. 10,000 across all locations (Tier 1 to 6 centres). Earlier this limit was Rs 1000 for Tier 1 and 2 cities while Rs 2000 for Tier 3 to 6 cities.

 

AWARDS AND HONOURS

 

1. Hockey India wins Etienne Glichitch Award: Hockey India has won the prestigious Etienne Glichitch Award in recognition of its contribution to the growth and development of the sport in the country. The awards were announced by the game’s governing body FIH during the HockeyInvites virtual conference. It was part of its 47th FIH Congress which concluded with the FIH Honorary Awards.

Other Awards presented as a part of the 47th FIH Congress:

 

S.no	Award	Winners
1	Pablo Negre Award	Uzbekistan Hockey Federation
2	Theo Ikema Award	Polish Hockey Association
3	HRH Sultan Azlan Shah Award	Sharon Williamson of New Zealand
4	GuustLathouwers Memorial Trophy	Ivona Makar

 

OBITUARIES

 

1. Veteran Music Director Laxman of the duo composers “Raam-Laxman” passes away: Renowned music director “Laxman” of the famous duo composers “Raam-Laxman”, has passed away due to a heart attack. His real name was Vijay Patil, but was better known as Raamlaxman and was most famous for his work with Rajshri Productions of Hindi films. Laxman composed music for several of their hit films like Agent Vinod (1977), Maine PyarKiya (1989), Hum Aapke Hain Koun..! (1994), Hum SaathSaath Hain (1999). Raamlaxman has worked in almost 75 films in Hindi, Marathi and Bhojpuri.

 

2. Former Atomic Energy Commission of India Chief Srikumar Banerjee Passes Away: The former Chairman of the Atomic Energy Commission of India, Dr. Srikumar Banerjee, has passed away. He retired as Chairman of the Atomic Energy Commission and Secretary of the Department of Atomic Energy in 2012. He had also served as the Director of the Bhabha Atomic Research Centre (BARC) for six years till 2010. Dr Banerjee received the Padma Shri in 2005 and the Shanti Swarup Bhatnagar Award in 1989 for his exceptional service in the field of science, especially in the areas of atomic energy and metallurgy. 

Daily GK Update- 25th, May 2021

 

NATIONAL UPDATES:

 

1. DRDO develops Covid-19 antibody detection kit ‘DIPCOVAN’: India’s Defence Research and Development Organisation (DRDO) has developed a Covid-19 antibody detection kit. The DIPCOVAN kit can detect both spikes as well as nucleocapsid proteins of Coronavirus with a high sensitivity of 97%. It has been approved by the Indian Council of Medical Research and has been developed by the Defence Institute of Physiology and Allied Sciences lab of DRDO in association with Delhi’s Vanguard Diagnostics Pvt Ltd.

About the DIPCOVAN: DIPCOVAN is intended for the qualitative detection of IgG antibodies in human serum or plasma, targeting SARS-CoV-2 related antigens. It offers a significantly faster turnaround time of just 75 minutes to conduct the test without any cross-reactivity with other diseases. The kit has a shelf life of 18 months.

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

 

2. Cyclone Yaas to hit West Bengal, Odisha: A category 5 cyclonic storm has been forecasted to make its landfall along the coastline of West Bengal and Odisha between May 26-27. Once formed, the cyclone will be named ‘Yaas’. Yaas will be as deadly as Amphan which was also formed in the Bay of Bengal in May last year. Yaas, named by Oman as such, refers to a Jasmine-like tree that has a good fragrance.

A rotational list of the names of cyclones is maintained by the World Meteorological Organisation (WMO), with the names specific for each tropical zone. If a cyclone is especially deadly then its name is never used and is replaced by another name. The list has a total of 169 names at present which will be used on a rotational basis.

Note: World Meteorological Organisation Headquarters: Geneva, Switzerland; World Meteorological Organisation Founded: 23 March 1950; World Meteorological Organisation President: David Grimes.

 

3. A book title “Nehru, Tibet and China” authored by Avtar Singh Bhasin: A book has titled “Nehru, Tibet and China” authored by Avtar Singh Bhasin. The book based on years of meticulous archival research, this book in fascinating detail, analyses the events from 1949 to the Indo-China war in 1962 and its aftermath to explore the answers to these burning questions.

 

4. Indian Commonwealth Day: 24th May: Commonwealth Day is celebrated on the second Monday in the month of March every year. However, in India, another Commonwealth Day is also celebrated on May 24. Also known as Empire Day, Commonwealth Day commemorates the formation of the British Empire in India and other colonies of Britain. This year the theme for Commonwealth Day is: Delivering a Common Future. The aim of this theme is to highlight how the 54 Commonwealth countries are innovating, connecting and transforming to help achieve essential goals like tackling climate change, promoting good governance, achieving gender equality.

History of the day: It was not until after the death of Queen Victoria, who passed away on January 22, 1901, that Empire Day was first celebrated. The first Empire Day was celebrated on May 24, 1902, which was the Queen’s birthday. Many schools across the British Empire were celebrating it even before it was officially recognised as an annual event.

 

INTERNATIONALUPDATES:

 

1. Asia’s richest and second richest persons are now Indians: Billionaire Gautam Adani has edged past Chinese tycoon ZhongShanshan to become the second-richest Asian, according to the Bloomberg Billionaire Index. China’s Zhong was the richest Asian till February when he lost the crown to MukeshAmbani, India’s richest person and chairman of Reliance Industries Ltd. However, while Ambani lost $175.5 million this year, Adani’s wealth surged by $32.7 billion to touch $66.5 billion, against Zhong’s $63.6 billion. Ambani’s total wealth now stands at $76.5 billion, making him the 13th richest in the world, followed by Adani at 14th.

Bloomberg Billionaires Index on May 21, 2021:

 

Rank	Name	Net Worth	Country
1	Jeff Bezos	$189B	US
2	Elon Musk	$163B	US
3	Bernard Arnault	$162B	France
4	Bill Gates	$142B	US
5	Mark Zuckerberg	$119B	US
6	Warren Buffet	$108B	US
7	Larry Page	$106B	US
8	Sergey Brin	$102B	US
9	Larry Ellison	$91.2B	US
10	Steve Ballmer	$89.2B	US
11	Francoise Bettercourt Meyers	$87.2B	France
12	Amancio Ortega	$82.4B	Spain
13	MukeshAmbani	$76.3B	India
14	Gautam Adani	$67.6B	India
15	ZhongShanshan	$65.6B	China

 

2. World Thyroid Day: 25th May: World Thyroid Day is observed globally on 25 May every year. The main purpose of the WTD is to aware of the importance of Thyroid and the prevention and treatment of thyroid diseases. This day is established in 2008 as a part of the campaign led by the European Thyroid Association (ETA) and the American Thyroid Association (ATA) followed by the Latin American Thyroid Society (LATS) and Asia Oceania Thyroid Association (AOTA) to commemorate the patients with Thyroid diseases and doctors and physicians who treat them.

What is Thyroid: The thyroid is a butterfly-shaped gland in the throat that produces T3 (Thyroxine) and T4 (Triiodothyronine) and maintained by the Thyroid-stimulating hormone(TSH). It regulates the metabolism of the body and abnormalities in this may cause dysfunctioning body systems. The decrease in thyroid hormone causes hypothyroidism (sudden weight gain) and the increase in thyroid hormone causes hyperthyroidism. Maintaining proper iodine level in the diet and limiting the usage of raw goitrogenic vegetables will help in avoiding thyroid diseases.

 

3. International Missing Children’s Day: 25th May: International Missing Children’s Day is observed globally on 25th May every year. This day is observed for missing children who have found their way home, remember those that are victims of crime, and continue efforts to seek out those that are still missing. 25 May is now widely referred to as Missing Children’s Day, with the forget-me-not flower as its emblem.

About International Missing Children’s Day: The day was proclaimed in 1983, by U.S. President Ronald Reagan. In 2001, 25 May was the first formally recognized as International Missing Children’s Day (IMCD), to a joint effort on the part of the International Centre for Missing and Exploited Children (ICMEC), Missing Children Europe and therefore the European Commission.

Note:  ICMEC Headquarters: Alexandria, Virginia, US; Chairman of ICMEC: Dr Franz B. Humer.

 

OTHER UPDATES:

 

SPORTS

 

1. Sreejesh appointed FIH Athletes’ Committee member: Star India hockey team goalkeeper PR Sreejesh was re-appointed as a member of the International Hockey Federation (FIH) Athletes’ Committee during the virtual meeting of the world body’s Executive Board. He has been a member of the panel since 2017. The experienced Sreejesh, who has led the Indian team in the past, was one of the four new members appointed by the EB which met two days before the 47th FIH Congress, which will also be held online.

The EB confirmed the appointment of four new members for the Athletes’ Committee. SreejeshParattu (IND), Marlena Rybacha (POL), Mohamed Mea (RSA) and Matt Swann (AUS) are now joining the Committee. Steve Horgan (USA), the new chair of the FIH Rules Committee, succeeding David Collier.

About the FIH Athletes Committee: The FIH Athletes Committee consists of current and former players who make recommendations to the FIH Executive Board, FIH Committees, Advisory Panels and other bodies on behalf of all athletes for the development of various resources and initiatives required for the growth of players and the sport.

Note: FIH Headquarters: Lausanne, Switzerland; FIH Founded: 7 January 1924, Paris, France; FIH CEO: Thierry Weil.

 

BANKING AND FINANCE

 

1. RBI to transfer Rs. 99,122 crore surplus to Central Government for FY21: The Reserve Bank of India will transfer Rs 99,122 crore surplus to the Central Government for the accounting period of nine months ended March 31, 2021 (July 2020-March 2021). The Contingency Risk Buffer will remain at 5.50%. This year RBI has changed its Accounting year from July-June to April-March to coincide with the accounting year of Government. As a result, the accounting year 2020-21 of RBI has only 9 months. It must be noted that every year, RBI transfers its entire surplus which it has earned as profit to Central Government.

 

2. SBI and HyperVerge Partner for AI-powered Online Account Opening: HyperVerge announced its partnership with SBI, with one of its flagship products, the Video Banking solution, which aims to achieve a 10x improvement in the number of account openings per day per agent. The new service will offer a quick and completely paperless experience to customers with minimal ID documents. Assisted by AI engines with an accuracy of 99.5%, HyperVerge’s Video Banking solution enables SBI to provide convenient digital banking services to millions of Indians. Last year, the Reserve Bank of India (equivalent to the Federal Reserve) allowed banks to adopt the Video Customer Identification Process (V-CIP). This measure has proven to be prophetic given the rising Covid-19 cases.About this new technology:

(1) The technology developed by the Palo Alto headquartered company is critical at this hour since it helps financial institutions deliver uninterrupted services, and save the cost and time spent on manual processing.

(2) For comparison, manual checks by an agent can take up to 25 minutes, while HyperVerge’s solution completes the entire process within 5 minutes.

(3) The Video Banking solution can be supported on multiple platforms.

(4) Additionally, the solution performs pre-qualifier checks on customer details, schedules video calls with high throughput and performs AI-driven Liveness, OCR, and Facematch checks. This technology has long-term implications for an organization’s efficiency.

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

 

BUSINESS AND ECONOMY

 

1. Microsoft to retire iconic Internet Explorer on 15 June 2022: Tech-giant Microsoft has decided to retire its iconic Internet Explorer (IE) browser, with effect from 15 June 2022, after more than 25 years of its launch. The Internet Explorer (IE) browser was launched in 1995. Microsoft recommends its users shift to Microsoft Edge (2015) before June 15, 2022, for a faster, more secure and more modern browsing experience.

About Microsoft Edge: Microsoft Edge has in-built Internet Explorer mode (IE mode), so users can access legacy Internet Explorer-based websites and applications straight from Microsoft Edge.

History of Internet Explorer: Internet Explorer was once the most widely used web browser, with 95 per cent usage share by 2003. However, its usage share declined since the launch of Firefox (2004) and Google Chrome (2008), as well as the growing popularity of mobile operating systems such as Android and iOS that do not support Internet Explorer. Internet Explorer 11 (IE11) is the eleventh and final version of the Internet Explorer web browser officially released on October 17, 2013.

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

 

AWARDS AND HONOURS

 

1. Naturalist Jane Goodall wins 2021 Templeton prize for life’s work: The naturalist Jane Goodall has been announced as the 2021 winner of the Templeton Prize in recognition of her life’s work on animal intelligence and humanity. Goodall built her global reputation on her groundbreaking studies of chimpanzees in Tanzania in the 1960s.

The Templeton Prize is an annual award granted to a living person, in the estimation of the judges, “whose exemplary achievements advance Sir John Templeton’s philanthropic vision: harnessing the power of the sciences to explore the deepest questions of the universe and humankind’s place and purpose within it.”

Note: Templeton Prize Instituted: 1973; Presented by: John Templeton Foundation; Reward(s): £1.1 million; Currently held by: Francis Collins; Awarded for: Outstanding contributions in affirming life’s spiritual dimension, whether through insight, discovery, or practical works.

 

OBITUARIES

 

1. Indian boxing’s first Dronacharya awardee coach O P Bhardwaj passes away: Indian boxing’s first Dronacharya awardee coach, O P Bhardwaj has passed away. He has bestowed the highest national honour in coaching jointly with BhalchandraBhaskar Bhagwat (wrestling) & O M Nambiar (athletics) when it was introduced in 1985. Bhardwaj was India’s national boxing coach from 1968 to 1989 & also served as a national selector. He was the first chief instructor for the sport at the National Institute of Sports India in Patiala.