Daily GK Update- 15th Oct, 2021

 

NATIONAL UPDATES:

 

1. PM Narendra Modi addresses 28th NHRC Foundation Day programme: The Prime Minister, Shri Narendra Modi addressing at the 28th National Human Rights Commission (NHRC) Foundation Day programme, through video conferencing, in New Delhi on October 12, 2021. Prime Minister Narendra Modi has addressed the 28th NHRC Foundation Day programme, through video conferencing on October 12, 2021, in the presence of Union Home Minister Amit Shah and NHRC chairperson. The National Human Rights Commission (NHRC) of India is a Statutory public body constituted on 12 October 1993 under the Protection of Human Rights Act 1993, for the promotion and protection of human rights and dignity of the marginalised. The Prime Minister concluded by mentioning the human rights of future generations. He emphasized that with measures like International Solar Alliance, renewable energy goals and Hydrogen Mission, India is rapidly moving in the direction of sustainable life and eco-friendly growth.

Note: Chairperson of NHRC: Justice Arun Kumar Mishra; NHRC Headquarters: New Delhi.

 

2. PM Narendra Modi launches Indian Space Association: Prime Minister Narendra Modi launched the Indian Space Association (ISpA) via videoconferencing. Its founding members include Bharti Airtel, Larsen & Toubro, Nelco (Tata Group), OneWeb, Mapmyindia, Walchandnagar Industries and Ananth Technology Limited. Other core members include Godrej, Hughes India, Azista-BST Aerospace Private Limited, BEL, Centum Electronics and Maxar India. About the board members:

First Chairman: Jayant Patil, L&T-NxT Senior Executive Vice President for Defence

Vice-President: Rahul Vatts, Bharti Airtel’s chief regulatory officer

Director-General: Lt Gen. A.K. Bhatt (Retd.)

About the ISpA: The ISpA is a private industry body that will act as a premier industry body for space and satellite companies in the country. ISpA will be represented by homegrown and global corporations with advanced capabilities in space and satellite technologies. ISpA will work towards boosting space technology in India, with focus on capacity building and space economic hubs and incubators in India.

 

3. Arvind Kejriwal launches ‘Desh Ke Mentor’ Programme: Chief Minister Arvind Kejriwal has launched a programme under which students of Delhi government schools will be provided guidance on career choices by citizens who are successful in their respective fields. The ‘Desh ke mentor’ programme entails ‘adopting’ one to 10 government school students who can be mentored by citizens who are successful in their respective fields. The Delhi government had in August announced that Bollywood actor Sonu Sood will be the brand ambassador for the mentors’ programme.

Function of “Desh ke mentor’ programme: Mentors will take out 10 minutes every week to guide students over the phone. Interested citizens can adopt between one to 10 children studying in the city’s government schools as part of the initiative.

Note: Chief Minister of Delhi: Arvind Kejriwal; Lieutenant Governor of Delhi: Anil Baijal.

 

4. K V Subramanian resigned as Chief Economic Adviser: The Chief Economic Adviser (CEA) KV Subramanian has decided to return to academia after the completion of his three-year term in the Finance Ministry of India. KV Subramanian had taken over the charge of Chief Economic Adviser on December 7, 2018. The appointment was made nearly five months after his predecessor Arvind Subramanian had stepped down. KV Subramanian, earlier in his career, had been part of the expert committees for the Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI). Subramanian has also been well-versed with the private sector, with brief stints in top corporates including ICICI Bank, JPMorgan Chase, and Tata Consultancy Services.

Role of Chief Economic Adviser:

(1) CEA (Chief Economic Adviser) is a post in the Government of India. It is equivalent to the rank of Secretary to the Government of India.

(2) The Chief Economic Adviser is head of the Economic Division of the Economic Affairs Department, Ministry of Finance.

(3) The extent to which the Indian Government takes into account the advice of CEA has generally been considered to be open-ended.

 

5. Former SBI Chief Rajnish Kumar launches memoir ‘The Custodian of Trust’: Former Chairman of the State Bank of India (SBI) Rajnish Kumar has come out with his memoir titled ‘The Custodian of Trust – A Banker’s Memoir’. The book has been published by Penguin Random House India. It gave a rare insight of how the financial system in our country works. The Custodian of Trust presents Kumar’s journey from a modest house in the old city of Meerut to being a probationary officer in SBI in 1980 and growing to the post of Chairman in 2017.

 

INTERNATIONAL UPDATES:

 

1. Alexander Schellenberg appointed Austria’s new Chancellor: Alexander Schellenberg was elected as Austrian Chancellor after the resignation of Sebastian Kurz. Sebastian Kurz resigned because of his involvement in a corruption scandal. Apart from Alexander, Michael Linhardt joined in for the role of foreign minister. He was the former ambassador to France. The appointment of both persons helped in ending the crisis within the Austrian government, the Austrian People’s Party and Green Party Coalition. Alexander Schellenberg is a graduate from the College of Europe. He was a career diplomat & became a mentor to Sebastian Kurz when he became a foreign minister. Kurz selected him as the director of strategic foreign policy planning as well as the head of the European department.

Note: Austria Capital: Vienna; Austria Currency: Euro.

 

2. IEA invites India to become full-time member: International Energy Agency (IEA) has invited India to become its full-time member. This membership invitation was given in the light that, India is the world’s third-largest energy consumer. If this proposal is accepted, it will require India to increase its strategic oil reserved to 90 days requirement. Oil Minister Hardeep Singh Puri held discussions with IEA Executive Director Fatih Birol. During the discussion, IEA executive director invited India to deepen its cooperation with IEA by becoming its full member.

Note: International Energy Agency Members: 30 (eight associate nations); International Energy Agency Full membership: Colombia, Chile, Israel and Lithuania; International Energy Agency Headquarters: Paris, France.

 

3. World Student’s Day 2021: 15th October: World Student’s Day is celebrated every year on October 15. The day is celebrated in honour of the birth anniversary of the former president of India, Late Dr APJ Abdul Kalam. Since 2010, the United Nations Organisation (UNO) has marked October 15 as World Student’s Day in an attempt to acknowledge the efforts of Dr Kalam toward education and his students. The current year’s (2021) theme of World Students’ Day is “Learning for people, planet, prosperity and peace“.

About A.P.J Abdul Kalam: A.P.J Abdul Kalam was born on 15 October 1931 at Dhanushkodi, Rameswaram, Tamil Nadu. His full name was Avul Pakir Jainulabdeen Abdul Kalam. In 2002, he was elected as the President of India and before becoming president he was working with the Indian Space Research Organisation (ISRO) and Defence Research and Development Organisation (DRDO) as an aerospace engineer. As a scientist, he began his career at the Aeronautical Development Establishment of the Defence Research and Development Organisation (DRDO). Also, he had served as the project director of India’s first Satellite Launch Vehicle (SLV-III) at ISRO.

 

4. International Day of Rural Women: 15th October: The International Day of Rural Women is observed globally on 15 October each year. The day recognizes the crucial role of women and girls in ensuring the sustainability of rural households and communities, improving rural livelihoods and overall well-being. In India, the Ministry of Agriculture and Farmers Welfare observes the day as the Rashtriya Mahila Kisan Diwas since 2016, to increase the active participation of women in agriculture. This International Day, under the theme “Rural women cultivating good food for all”, let’s recognize the work of these heroines in the food systems of the world, and let’s claim rural areas with equal opportunities for all.

History: The United Nations General Assembly established the day on 18 December 2007 and was observed for the first time in 2008.

 

OTHER UPDATES:

 

SPORTS

 

1. Ireland’s Amy Hunter becomes youngest batter to hit ODI hundred: Ireland’s Amy Hunter hit 121 not out on her 16th birthday against Zimbabwe, making her the youngest batter to score an ODI century in either men’s or women’s cricket. The Belfast batter – who was playing in only her fourth ODI – broke the record previously held by India’s Mithali Raj, scorer of a century against Ireland in 1999 when she was 16 years 205 days.

 

BANKING AND FINANCE

 

1. Centre accords “Maharatna” status to state-owned PFC Ltd: The Government of India has accorded ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC). The new status will give PFC greater operational and financial autonomy. PFC was incorporated in 1986, as an Indian financial institution under the ownership of the Ministry of Power. It is the largest Infrastructure Finance Company in India, exclusively dedicated to Power Sector.

The grant of ‘Maharatna’ status to PFC will impart enhanced powers to the PFC Board while taking financial decisions. The Board of a ‘Maharatna’ CPSE can make equity investments to undertake financial joint ventures and wholly-owned subsidiaries and undertake mergers and acquisitions in India and abroad, subject to a ceiling of 15% of the Net Worth of the concerned CPSE, limited to Rs.5,000 crore in one project. The Board can also structure and implement schemes relating to personnel and Human Resource Management and Training. They can also enter into technology Joint Ventures or other strategic alliances among others.

Note: Power Finance Corporation Ltd Headquarters: New Delhi; Power Finance Corporation Ltd Founded: 16 July 1986; Power Finance Corporation Ltd Chairman & MD: Ravinder Singh Dhillon.

 

2. Former SBI Chief Rajnish Kumar appointed as Chairman of BharatPe: The fintech startup, BharatPe has appointed former State Bank of India (SBI) Chairman Rajnish Kumar as the Chairman of its board. The former SBI chairman will work closely with the top officials of the company on key business and regulatory initiatives. He will also take part in defining BharatPe’s long-term and short-term strategy. As the Chairman, Kumar will be responsible to:

(1) Mentor the BharatPe team in formulating a short-term and long-term strategy

(2) Work closely with the board and executives on regulatory matters

(3) Advise and counsel the management on corporate governance

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

 

BUSINESS AND ECONOMY

 

1. India’s retail inflation eases to 4.35% in September: Retail inflation declined to 4.35 per cent in September, mainly due to lower food prices, according to government data released. The Consumer Price Index-based (CPI) inflation was at 5.30 per cent in August and at 7.27 per cent in September 2020. As per the data released by the National Statistical Office (NSO), the inflation in the food basket eased to 0.68 per cent in September 2021, significantly down from 3.11 per cent in the preceding month. According to RBI:

(1) The Reserve Bank of India (RBI), which mainly factors in CPI-based inflation while arriving at its bi-monthly monetary policy, has been tasked by the government to keep it at 4 per cent, with a tolerance band of 2 per cent on either side.

(2) The CPI headline momentum is moderating, which combined with favourable base effects in the coming months could bring about a substantial softening in inflation in the near term.

(3) RBI has projected the CPI inflation at 5.3 per cent for 2021-22: 5.1 per cent in the second quarter, 4.5 per cent in the third; 5.8 per cent in the last quarter of the fiscal, with risks broadly balanced.

 

AWARDS AND HONOURS

 

1. Dr Randeep Guleria bags 22nd Lal Bahadur Shastri National Award: The Vice President M Venkaiah Naidu presented the 22nd Lal Bahadur Shastri National Award for Excellence to the eminent pulmonologist and Director of the All India Institute of Medical Sciences (AIIMS), Dr Randeep Guleria at Upa-Rashtrapati Nivas. He lauded Dr Guleria’s devotion to duty and in nurturing the Department of Pulmonary Medicine and Sleep Disorders in AIIMS.

Dr Randeep Guleria’s stellar role in creating awareness about the pandemic in recent times has not only been reassuring for all of us but has also soothed the frayed nerves of every person who has met, seen, or heard him speak on multiple forums on various aspects related to COVID 19. Dr Guleria is widely respected for his ground-breaking work in his chosen field and is known to be a highly efficient and dedicated hospital administrator, as well.

Daily GK Update- 14th Oct, 2021

 

NATIONAL UPDATES:

 

1. Health benefit package under Ayushman Bharat revised: In a first of its kind move, Ayushman Bharat, the health insurance scheme, will now offer a healthcare cover to transgender people and support sex-change operations. The addition is part of the National Health Authority’s (NHA) revised Health Benefits Package, or HBP 2.2.The HBP 2.2 is expected to be rolled out from November, 2021.

Under the revised HBP 2.2, rates of health packages have been increased by 20 per cent to 400 per cent. Rates have been revised for radiation oncology procedures, management procedures for dengue, acute febrile illness, black fungus, heart catheterisation, PDA closure, arthrodesis, cholecystectomy, and appendectomy. Rates for ICU with ventilator are revised by 100 per cent, ICU without ventilator by 136 per cent, HDU by 22 per cent while prices for routine ward changed by 17 per cent.

Pradhan Mantri Jan Arogya Yojana (PM-JAY) gives a medical cover of Rs 5 lakh per family per year for free treatment at all public and empanelled private hospitals for 53 crore beneficiaries. This benefit will now be extended to transgender people under the government’s new scheme, Support for Marginalised Individuals for Livelihood and Enterprise (SMILE). The health cover will include medical support and medical intervention for transgender persons.

 

2. GoI launched ‘My Port App’ for digital monitoring of port operations: The Centre government has launched ‘MyPortApp’ in Kolkata for digital monitoring of port operation. It has been launched for promoting transparency and to provide port-related information. The app has been launched for those port users who want to use various port services. It includes all facts about the port digitally. The app incorporates information related to Vessel Berthing, Rake & Indent, Rake Receipt, Container Status, Tariff, Bills, Port Holidays and can be accessed anywhere 24×7.

 

3. Tamil Nadu’s ‘Kanniyakumari Clove’ gets GI Tag: The unique clove spice grown in the hills of Kanyakumari district in Tamil Nadu has been awarded a geographical indication (GI) as ‘Kanyakumari clove’. In India, the total production of cloves is 1,100 metric tons and of this, 1,000 metric tons is produced in Tamil Nadu every year while 750 metric tons of cloves are produced in the Kanyakumari district alone. Apart from this, the traditional dye-painted figurative and patterned cloth called Karuppur kalamkari paintings and the wood carvings of Kallakurichi from Tamil Nadu have also received GI tags.

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

 

4. Eight High Courts to get new Chief Justices: The Government notified the appointments of eight and transfer of five chief justices of high courts. Eight High Courts will get new Chief Justices, and five Chief Justices have been transferred. The clearance in the 13 High Courts was considered crucial as some of them have been making do with Acting Chief Justices.

Five Chief Justices have been transferred:

(1) The government cleared the transfer of Tripura High Court Chief Justice A.A. Kureshi to the Rajasthan High Court.

(2) Justice Indrajit Mahanty, Chief Justice of the Rajasthan High Court, would take over as Tripura Chief Justice.

(3) Chief Justice Mohammad Rafiq of Madhya Pradesh has been appointed as the Chief Justice of the Himachal Pradesh High Court.

(4) Chief Justice Biswanath Somadder of the Meghalaya High Court has been transferred as the Chief Justice of the Sikkim High Court.

(5) Justice A.K. Goswami has been appointed as the Chief Justice of the Chhattisgarh High Court. He is presently the Chief Justice of Andhra Pradesh High Court.

 

Newly appointed Chief Justice:

(1) Justice Rajesh Bindal, Acting Chief Justice of Calcutta High Court, was appointed as the Chief Justice of the Allahabad High Court.

(2) Justice Ranjit V. More has been appointed as the Chief Justice of the Meghalaya High Court.

(3) Justice Satish Chandra Sharma, Acting Chief Justice of the Karnataka High Court, has been appointed as the Chief Justice of the Telangana High Court.

(4) Justice Prakash Srivastava, a Madhya Pradesh High Court judge, has been appointed as the Chief Justice of the Calcutta High Court.

(5) Justice R.V. Malimath has been appointed as the Chief Justice of the Madhya Pradesh High Court.

(6) Justice Ritu Raj Awasthi has been appointed as the Chief Justice of the Karnataka High Court.

(7) Justice Aravind Kumar has been appointed as the Chief Justice of the Gujarat High Court.

(8) Justice Prashant Kumar Mishra would take over as the Chief Justice of the Andhra Pradesh High Court.

 

5. Railways launch two long haul freight trains ‘Trishul’, ‘Garuda’: The Indian Railways has launched two long haul freight trains “Trishul” and “Garuda” — which are twice or multiple times longer than the normal composition of freight trains. These long haul trains provide a very effective solution to the problem of capacity constraints in critical sections. These trains are twice or multiple times longer than the normal composition of freight trains and provide a very effective solution to the problem of capacity constraints in critical sections.

About the Trishul: Trishul is the first long haul train of South Central Railway (SCR) and consists of 177 wagons, or equal to three freight trains. It was launched from the Kondapalli station of the Vijayawada division to the Khurda division of the East Coast Railway.

About the Garuda: The train ‘Garuda’ was launched from Raichur of Guntakal division to Manuguru of Secunderabad division. Both the long haul trains had empty open wagons to be used to load coal meant for predominantly thermal power stations.

Note: Union Minister of Railways: Ashwini Vaishnaw.

 

INTERNATIONAL UPDATES:

 

1. PM Participates in G20 Extraordinary Summit on Afghanistan: Prime Minister Narendra Modi has participated virtually in the G20 Extraordinary Summit on Afghanistan. The Meeting was convened by Italy, which currently holds the G20 Presidency, and chaired by Italian Prime Minister, Mario Draghi. Issues under consideration at the meeting related to the humanitarian situation; concerns relating to terrorism; and human rights in Afghanistan. The Prime Minister welcomed the initiative of the Italian G20 Presidency in convening the meeting to take stock of the current situation in Afghanistan.

 

2. UNDP Releases 2021 Multidimensional Poverty Index Report: The 2021 Multidimensional Poverty Index (MPI) Report was jointly released by UNDP and the Oxford Poverty and Human Development Initiative (OPHI). The report provides estimates on multidimensional poverty across 109 developing countries (with data from surveys ranging 2009-2019/2020); These include 26 low-income countries, 80 middle-income countries and 3 high-income countries. The index measures each person’s deprivations across 10 indicators divided into three equally weighted dimensions.

About the Index:

(1) The finding is based across 109 countries and 5.9 billion people. of this, 1.3 billion people are multidimensionally poor (or 21.7%)

(2) About half (644 million) are children under age 18.

(3) About 8.2 per cent (105 million) are age 60 or older.

(4) Nearly 85 per cent live in Sub-Saharan Africa (556 million) or South Asia (532 million).

(5) 84 per cent (1.1 billion) live in rural areas, and 16 per cent (about 209 million) live in urban areas.

(6) More than 67 per cent live in middle-income countries.

(7) In India, five out of six multidimensionally poor people were from lower tribes or castes.

 

3. International E-Waste Day: 14th October: The International E-Waste Day (IEWD) is celebrated on 14 October every year since 2018, to promote the correct disposal of e-waste throughout the world with the aim to increase re-use, recovery and recycling rates. 2021 is the fourth edition of the International E-Waste Day. This year’s International E-Waste Day will focus on the crucial part each of us has in making circularity a reality for e-products. The theme for 2021 IEWD is “Consumer is the key to Circular Economy!”. The day was developed in 2018 by the WEEE Forum, an international association of e-waste collection schemes, with the support of its members.

 

4. World Standards Day: 14th October: World Standards Day or International Standards Day is observed globally on 14 October every year. The day aims to raise awareness about the importance of standardisation to the global economy among consumers, regulators and industry. World Standards Day 2021 theme is “Standards for sustainable development goals – shared vision for a better world”.

History of the day: The date was chosen to mark the first gathering of delegates in 1956 from 25 countries in London who decided to create an international organisation for facilitating standardisation. The ISO was formed a year later in 1947. However, the first World Standards Day was celebrated in 1970.

Note: International Organization for Standardization Headquarters: Geneva, Switzerland; International Organization for StandardizationFounded: 23 February 1947, London, United Kingdom; International Organization for Standardization President: Ulrika Francke.

 

OTHER UPDATES:

 

SPORTS

 

1. FIFA unveils “Ibha” mascot of India’s 2022 U-17 Women’s World Cup: World football body, FIFA has unveiled the official mascot of the U-17 Women’s World Cup India 2022 “Ibha” an Asiatic lioness representing women power. The tournament will be held in India from October 11-30 next year. The announcement coincided with the International Day of the Girl Child. According to a release issued by the global body, Ibha aims to inspire women and girls across India and around the world to realise their potential. Ibha is a strong, playful and charming Asiatic lioness that aims to inspire and encourage women and girls by using teamwork, resilience, kindness and empowering others.

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

 

BANKING AND FINANCE

 

1. RBI grants banking licence to Unity Small Finance Bank: The Reserve Bank of India has granted a banking licence to Unity Small Finance Bank Ltd (USFBL), which was established jointly by the Centrum Financial Services Ltd (CFSL) and Resilient Innovations Private Limited (BharatPe), to carry on a SFB business in India. It is the first time ever that two partners are uniting equally to build a Bank. The proposed business model is one of collaboration and open architecture, uniting all its stakeholders to deliver a seamless digital experience. RBI had accorded “in-principle” approval to CFSL, a wholly-owned subsidiary of Centrum Capital, on June 18 to set up a small finance bank (SFB). Centrum’s MSME and Micro Finance businesses shall be merged into Unity Small Finance Bank.

 

BUSINESS AND ECONOMY

 

1. Adani Group takes over management of Jaipur International Airport: Gautam Adani-led Adani Group has took over the responsibilities of the Jaipur International Airport from the Airports Authority of India (AAI). The airport has been leased out to the group by the government of India for a period of 50 years. For the last two months, officials from Adani group have been observing operations at the airport. Airport director J S Balhara handed over a symbolic key of the airport to Chief Airport Officer Adani Jaipur International Ltd Vishnu Jha in the presence of other officials.

About the Jaipur airport: Jaipur airport is the 11th busiest airport in India in daily scheduled flight operations. Located in the southern suburb of Sanganer, the airport was granted the status of the international airport on 29 December 2005. The civil apron can accommodate 14 aircraft and the new terminal building can handle up to 1,000 passengers at a time.

Note: Adani Group Headquarters: Ahmedabad; Adani Group Founder: Gautam Adani; Adani Group Founded: 20 July 1988.

 

AWARDS AND HONOURS

 

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

 

OBITUARIES

 

1. National Award-winning actor Nedumudi Venu passes away: National Award-winning actor Nedumudi Venu has passed away. He won three National Film Awards, and six Kerala State Film Awards for his performances. Nedumudi Venu began his career as a theatre artist with the plays of Kavalam Narayana Panicker. He made his debut in films with Thambu, directed by G Aravindan in 1978. Known for his work in Malayalam and Tamil movies, Venu acted in over 500 movies. 

Daily GK Update- 13th Oct, 2021

 

NATIONAL UPDATES:

 

1. Finance Ministry releases Rs 40,000 cr to states, UTs to meet GST compensation shortfall: Finance Ministry released 40,000 crore rupees to the States and UTs with Legislature under the back-to-back loan facility to meet the shortfall in GST Compensation. Earlier on 15th July this year, 75,000 crore rupees was released to the States and UTs with legislature. With the current release, the total amount released in the current financial year as back to back loan in-lieu of GST compensation has reached to 1 lakh 15 thousand crore rupees. This release is in addition to normal GST compensation being released every 2 months out of actual cess collection.

 

2. Adani Group takes over operational control of Lokpriya Gopinath Bordoloi International Airport Guwahati: The Airports Authority of India (AAI) has handed over the operational control of the Lokpriya Gopinath Bordoloi International Airport in Guwahati to Adani Group on October 08, 2021. This means that the operations, management and development responsibilities of the airport will now be in the hands of the Adani Group. It must be noted that in 2018, the Central Government had listed group of six airports for privatisation of its operations, management and development (OMD) for a period of 50 years. These airports included Ahmedabad, Lucknow, Mangalore, Jaipur, Thiruvananthapuram and Guwahati. The Adani Group had emerged as the successful bidder for all these six airports.

 

3. Union Minister Jyotiraditya Scindia inaugurates greenfield Sindhudurg airport in Maharashtra under UDAN scheme: The Union Minister of Civil Aviation, Shri Jyotiraditya M. Scindia, virtually inaugurated the greenfield Sindhudurg airport in Maharashtra recently, under the RCS-UDAN (Regional Connectivity Scheme – Ude Desh Ka Aam Naagrik) scheme of the Government of India. The minister also flagged off the first flight from the airport, taking off from Sindhudurg to Mumbai. Sindhudurg Airport (also known as Chipi Airport) is in Sindhudurg District of Maharashtra. With this, 381 routes and 61 airports including 5 heliports and 2 Water Aerodromes have become operationalized under the UDAN scheme.

 

4. In a first in India, Telangana develops smartphone-based e-voting app: The country’s first smartphone-based e-voting solution has been developed by the Telangana government and a dry run will be held in Khammam district soon. The software helps some voters, including senior citizens, persons with disabilities, those employed in notified essential services, polling personnel, and patients who can’t vote physically. Technical support for this project was provided by the Centre for Development of Advanced Computing (CDAC). The development has also been guided by an expert committee comprising professor Rajat Moona, director of IIT-Bhilai and technical advisor to the Election Commission, and professors from IIT-Bombay and IIT-Delhi.

 

INTERNATIONAL UPDATES:

 

1. India announces $200 million line of credit for Kyrgyzstan: India announced a $200-million line of credit for Kyrgyzstan and signed an agreement to carry out small but high impact projects for community development in the Central Asian state. The two initiatives were among several measures announced by external affairs minister S Jaishankar at the end of a two-day visit to Kyrgyzstan. External Affairs Minister S Jaishankar held “constructive” talks with the top Kyrgyz leadership to boost bilateral ties, including defence cooperation and discussed global issues like Afghanistan. Jaishankar, who arrived as part of his four-day visit to Kyrgyzstan, Kazakhstan and Armenia with an aim to further expand bilateral ties with the three Central Asian countries, called on Kyrgyz President Sadyr Japarov and discussed with him expanding economic between the two countries.

Note: Kyrgyzstan Capital: Bishkek; Kyrgyzstan Currency: Kyrgyzstani som; Kyrgyzstan President: Sadyr Japarov.

 

2. International Day for Disaster Reduction: 13th October: The United Nations International Day for Disaster Reduction is held annually on 13 October since 1989. The day is celebrated to promote a global culture of risk-awareness and disaster reduction and also celebrates how people and communities around the world are reducing their exposure to disasters and raising awareness about the importance of reining in the risks that they face. The theme of the 2021 International Day for Disaster Reduction is “International cooperation for developing countries to reduce their disaster risk and disaster losses”.

History of the day: The International Day for Disaster Risk Reduction was started in 1989, after a call by the United Nations General Assembly for a day to promote a global culture of risk-awareness and disaster reduction. Held every 13 October, the day celebrates how people and communities around the world are reducing their exposure to disasters and raising awareness about the importance of reining in the risks that they face.

 

OTHER UPDATES:

 

SPORTS

 

1. Valtteri Bottas Wins Turkish Grand Prix 2021: Valtteri Bottas (Mercedes-Finland) has won the F1 Turkish Grand Prix 2021, held on October 10, 2021. This is his first title of this season. Max Verstappen (Red Bull – Netherlands) came second while Sergio Perez (Mexico- Red Bull) finished third. Meanwhile, Lewis Hamilton finished fifth.

 

2. Indian Shooters win 43 medals at ISSF Junior World Championship: The 2021 International Shooting Sport Federation (ISSF) Junior World Championship Rifle/Pistol/Shotgun was held at Lima in Peru. The Indian shooters claimed a historic win with 43 medals to stand atop in the medal table. These included 17 Gold, 16 Silver and 10 Bronze medals. The USA finished second on the medal table with 21 medals including six gold, eight silver and six bronze. Meanwhile, Manu Bhaker created a milestone record of becoming the first Indian shooter to win the highest number of medals in a single edition of the ISSF Junior World Championships, with as many as five medals. These included 4 gold medals and a bronze.

Note: ISSF Headquarters: Munich, Germany; ISSF Founded: 1907; ISSF President: Vladimir Lisin.

 

BANKING AND FINANCE

 

1. RBI superseded the board of directors of SIFL and SEFL; appoints Rajneesh Sharma as administrator: The Reserve Bank of India has superseded the Board of Directors of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL) under Section 45-IE (1) of the Reserve Bank of India Act, 1934. These both are NBFCs.

Reason for superseding: This decision has been taken by RBI owing to governance concerns and defaults by these two NBFCs in meeting their various payment obligations.

New Administrator: RBI has appointed Shri Rajneesh Sharma as the Administrator of SIFL and SEFL under Section 45-IE (2) of the RBI Act. He is Ex-Chief General Manager, Bank of Baroda. The administrator in such cases has the power to act as the Board of Directors. RBI would also apply to the NCLT for appointing the Administrator as the Insolvency Resolution Professional.

Apart from this, RBI has formed a three-member Advisory Committee to assist the Administrator. The members of the Advisory Committee are as follows:

(1) Shri R. Subramaniakumar, Former MD & CEO, Indian Overseas Bank

(2) Shri T T Srinivasaraghavan, Former Managing Director, Sundaram Finance Limited

(3) Shri Farokh N Subedar, Former Chief Operating Officer and Company Secretary, Tata Sons Limited

The administrator i.e. Shri Rajneesh Shamra, along with the advisory group, shall facilitate the reconstitution of the Board of Directors of the Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL). RBI will also initiate the process of resolution of the above two NBFCs under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019.

 

BUSINESS AND ECONOMY

 

1. FICCI projects 9.1% GDP growth for FY22: India’s GDP is expected to grow at 9.1 per cent in 2021-22 as the economic recovery, post the second wave of the pandemic, seems to be holding ground. The survey was conducted in September 2021 and drew responses from leading economists representing the industry, banking and financial services sector. FICCI’s Economic Outlook Survey also noted that the ongoing festive season would support this momentum.

Note: FICCI Founded: 1927; FICCI Headquarters: New Delhi; FICCI President: Harshavardhan Neotia; FICCI CEO: Sangita Reddy.

 

2. WTO raises 2021 global trade volume forecast to 10.8%: The World Trade Organization (WTO) upgraded its forecast for global merchandise trade volume to an increase of 10.8% in 2021 from the 8% increase projected in March -followed by a 4.7 per cent rise in 2022. Growth should moderate as merchandise trade approaches its pre-pandemic long-run trend and supply-side issues such as semiconductor scarcity and port backlogs may strain supply chains and weigh on trade in particular areas, the WTO said.

 

AWARDS AND HONOURS

 

1. Astronautical Society of India Confers Aryabhata Award to G Satheesh Reddy: Secretary DDR&D and Chairman DRDO Dr G Satheesh Reddy has been conferred the prestigious Aryabhata Award by the Astronautical Society of India (ASI) for his outstanding lifetime contribution to the promotion of astronautics in India. Dr Reddy is a pioneer in the area of R&D of advanced avionics, navigation, and missile technologies. Dr Reddy has contributed immensely to strategic and tactical missile systems and helped the country become self-reliant in critical defence technologies. He is an institution builder and has set up mechanisms to establish robust defence development and production ecosystem.

About the ASI: The ASI is engaged in the dissemination of technical and other information related to astronautics by conducting technical meetings, bringing out technical publications and organising exhibitions.

Note: President of Astronautical Society of India: Dr K Sivan; The Astronautical Society of India (ASI) was set up in 1990; Astronautical Society of India HQ: New Delhi.

 

2. Malayalam writer Benyamin bags Vayalar Award: Well-known Malayalam writer Benyamin has bagged the 45th Vayalar Ramavarma Memorial Literary Award for his book “Manthalirile 20 Communist Varshangal”. The prestigious award, instituted by the Vayalar Ramavarma Memorial Trust, comprises a cash prize of Rs 1 lakh, a sculpture designed by renowned sculptor Kanayi Kunhiraman and a citation. A political satire, the novel revolves around a nondescript village called Manthalir and the influence of religion and politics in its culture in two decades. It was chosen for recognition by an expert panel comprising writers K R Meera, George Onakkoor and C Unnikrishnan.

Daily GK Update- 12th Oct, 2021

 

NATIONAL UPDATES:

 

1. Jyotiraditya M. Scindia flags off the Doon Drone Mela: Union Minister of Civil Aviation,  Jyotiraditya M. Scindia has flagged off the Doon Drone Mela 2021 in Dehradun, Uttarakhand. Minister flagged off the event with a paragliding demonstration and also interacted with the drone companies exhibiting their prototypes at the Doon Drone Mela. The day marked the demonstration of the Drone & Aerosports Demonstrations that included a paragliding demonstration by the Border Security Force, a Paramotor demonstration by Harsh Sachan, and an agriculture spraying drone demonstration by IoTechWorld Aviation & Dhaksha.

Furthermore, the event also included an emergency search & response drone demonstration with an indigenously 3D-printed drone by the Drone Application and Research Centre (DARC) & State Disaster Response Force (SDRF). It was followed by a brief survey drone demonstration by the Aarav Unmanned Systems (AUS) under the SVAMITVA Scheme along with a training drone demonstration by Sqn Ldr Varsha Kukreti (Retd).

 

2. ICMR releases MUDRA Toolbox in five Indian languages to diagnose dementia: Indian Council of Medical Research (ICMR) has released the Multilingual Dementia Research and Assessment (MUDRA) Toolbox in five Indian languages – Hindi, Bengali, Telugu, Kannada and Malayalam. The toolbox includes various cognitive tests to assess different domains of cognition such as attention and executive function, memory, language, and visuospatial functions. MUDRA Toolbox is an initiative undertaken by ICMR Neuro-Cognitive Tool Box (ICMR -NCTB) consortium to transform India’s dementia and mild cognitive impairment research and clinical practices. It is a collective effort by seven leading centres in India NIMHANS (Bengaluru), AIIMS (New Delhi), SCTIMST (Thiruvananthapuram), NIMS (Hyderabad), Apollo Hospital (Kolkata), Manipal Hospital (Bengaluru) and Jawaharlal Nehru Medical College.

 

3. Govt to set up 75 Science Technology and Innovation Hubs exclusively for SCs & STs: Union Minister Jitendra Singh: Union Minister Jitendra Singh has said that the government will set up 75 Science Technology and Innovation (STI) Hubs in different parts of the country. These hubs will be exclusively for Scheduled Castes (SCs) and Scheduled Tribes (STs) and will not only promote scientific talent, but also contribute to socio-economic development of these communities. The STI Hubs will develop, nurture and ensure the delivery of appropriate and relevant technologies for creation of sustainable livelihoods for the SC and ST population.

 

4. 40th-India International Trade Fair 2021 will be held at Pragati Maidan: The 40th edition of the India International Trade Fair (IITF) is scheduled to take place at Pragati Maidan, New Delhi from November 14 to 27, 2021. The theme of the 14-day IITF in 2021 is ‘Atmanirbhar Bharat’. The mega event is organised by the India Trade Promotion Organisation (ITPO) annually. The IITF was held for the first time in 1979.

 

5. Ministry of Textiles approves continuation of Comprehensive Handicrafts Cluster Development Scheme with a total outlay of Rs 160 crore: Ministry of Textiles has approved the continuation of the Comprehensive Handicrafts Cluster Development Scheme (CHCDS) up to March 2026. The total outlay of CHCDS will be Rs 160 crore. The objective of the scheme is the upliftment and development of handicrafts artisans. Under the scheme, Infrastructural support, market access, design and technology up-gradation support will be provided to handicrafts artisans. The mega handicraft clusters having more than 10,000 artisans will be selected for overall development under this scheme.

 

INTERNATIONAL UPDATES:

 

1. India and Croatia enters into agreement for academic research and competency building in traditional medicine systems: The Embassy of India at Zagreb, organised the first International Conference on Yoga and Ayurveda in Croatia in October 2021, with the support of the Ministry of AYUSH. The conference was held to present the scientifically validated benefits and mechanisms of Yoga and Ayurveda practices, promote its application and proper validation in society to ensure the optimal development and propagation of AYUSH systems of health care.

The six-member Indian delegation was led by Special Secretary Ayush Shri Pramod Kumar Pathak. As a part of this conference India and Croatia signed a Memorandum of Understanding for academic collaboration in India’s traditional medicine systems, especially in the field of Ayurveda. This will promote academic research, clinical and educational activities, medical education, training, and competency building. The MoU was signed between All India Institute of Ayurveda (AIIA), an autonomous body under the Ministry of Ayush and Kvarner Health Tourism Cluster, Croatia.

 

2. World Arthritis Day: 12th October: The World Arthritis Day is observed every year on October 12 to raise awareness about arthritis, an inflammatory condition that causes pain and stiffness in joints that can worsen with age. This day was started by Arthritis and Rheumatism International (ARI) in 1996 in order to spread awareness about arthritis and encourage policymakers to help reduce the burden of arthritis. The World Arthritis Day theme 2021 is Don’t Delay, Connect Today: Time2Work.

 

OTHER UPDATES:

 

SPORTS

 

1. ISSF Junior World Championship: Manu Bhaker, Naamya Kapoor, Rhythm Sangwan Win 25m Pistol Team Gold: Indian women’s trioka of Manu Bhaker, Naamya Kapoor and Rhythm Sangwan claimed the gold medal in the 25m Pistol team event at the ISSF Junior World Championships. The Indian women’s team defeated the USA team comprising Abbie Russell Leverett, Katelyn Morgan Abeln and Ada Claudia Korkhin 16-4 in the final.

 

2. Hockey India withdraws from 2022 Commonwealth Games in England: India pulled out of the 2022 Birmingham Commonwealth Games’ hockey competition stating the risk of contracting COVID-19 and the discriminatory quarantine rules by the United Kingdom (UK) for travellers coming from India. The UK has refused to consider India’s COVID-19 vaccination certificates and imposed a 10-day quarantine on travellers coming from India even if fully vaccinated. India has also imposed reciprocal rules on all UK nationals arriving in the country following UK’s discriminatory quarantine rules.

 

BANKING AND FINANCE

 

1. ESAF Bank launches ‘Supreme’ current account product for NRIs: ESAF Small Finance Bank has launched ‘Supreme’ a Current account product for Non – Resident Indians. The bank provides various features with this account, such as hassle-free banking, enhanced ATM cash withdrawal limit of Rs 50,000 per day in India, point of sale (POS) transaction limit of Rs.80,000 per day in India and e-commerce transaction limit of Rs 20,000 per day in India. The exclusive service for NRI’s are available at 277 branches across Kerala out of 550 branches pan India. The bank now has over 17940 Non-Resident Savings Bank accounts from 121 countries globally.

 

2. RBI grants permission to Emirates NBD bank to open two more branches in India: Amid growing business ties between India and UAE, the Reserve Bank of India has granted permission to Emirates NBD, the government-owned bank of UAE, to open two more branches in India, visiting trade minister Piyush Goyal informed the 9th meeting of the High Level Joint Task Force on Investments held in Dubai. Emirates NBD has maintained a representative office in India since 2000 and got permission from RBI to open its first bank branch in Mumbai in 2017.

 

BUSINESS AND ECONOMY

 

1. Reliance New Energy Solar acquires REC Solar Holdings: Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has acquired 100 per cent shareholding of REC Solar Holdings AS (REC Group), a Chinese state-owned solar power company. RNESL has acquired the REC Group from China National Bluestar (Group) Co Ltd., for an Enterprise Value of $771 million.

About the acquisition: This acquisition will enable Reliance to move closer to achieve the goal of generating 100GW of solar energy by 2030, and in turn, support the country’s global goal to produce 450GW of renewable energy by 2030. REC Group has three manufacturing facilities, two in Norway for making solar-grade polysilicon and one in Singapore making PV cells and modules. With this acquisition, RNESL will become the owner of REL’s three manufacturing facilities.

Note: RNESL Headquarters location: Mumbai; RNESL Founded: 2021.

 

AWARDS AND HONOURS

 

1. The Nobel Prize in Economic Sciences 2021 announced: The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 with one half to David Card (University of California, Berkeley, USA) “for his empirical contributions to labour economics”. The other half jointly to Joshua Angrist (Massachusetts Institute of Technology, Cambridge, USA) and Guido Imbens (Stanford University, USA) “for their methodological contributions to the analysis of causal relationships”.

This year’s Laureates – David Card, Joshua Angrist and Guido Imbens – have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments. Their approach has spread to other fields and revolutionised empirical research.

About the Sveriges Riksbank Prize in Economic Sciences: In 1968, Sveriges Riksbank (Sweden’s central bank) established the Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. The Prize is based on a donation received by the Nobel Foundation in 1968 from Sveriges Riksbank on the occasion of the Bank’s 300th anniversary. The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969.

The Prize in Economic Sciences is awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden, according to the same principles as for the Nobel Prizes that have been awarded since 1901.

 

2. Telugu Filmmaker B Gopal Chosen for Satyajit Ray Award: Well-known Telugu filmmaker B Gopal, alias Bejawada Gopal, has been chosen for the fourth Satyajit Ray Award for his overall contribution to Indian cinema. Gopal has directed 30 films Telugu films and two Hindi movies. He was selected by a panel comprising Malayalam filmmaker Balu Kiriyath, music director Perumbavoor G Raveendranath and others. The award is instituted by the Satyajit Ray Film Society Kerala, a state-based organisation, the award comprises Rs 10,000 cash prize, a memento, and a plaque.

 

OBITUARIES

 

1. Abolhassan Banisadr, Iran’s first president passes away: Abolhassan Banisadr, Iran’s first president after the country’s 1979 Islamic Revolution who fled Tehran after being impeached for challenging the growing power of clerics as the nation became a theocracy, died. He was 88. He was elected president in 1980, Banisadr was impeached 16 months after taking office for challenging the growing power of clerics. Banisadr then served as Iran’s minister of economics and foreign affairs and, with the help of the Islamic clergy, became president. He faced huge difficulties from the start, including the US embassy hostage crisis and the Iran-Iraq war but, above all, the opposition of fundamentalist clerics.