Daily Current Affairs 1 December 2021 for Banking/Insurance/SSC and other related exams.
Govt Appoints Committee to Revisit Criteria for EWS Quota; Ex-Finance Secy Ajay Pandey to Head Panel
The Centre has formed a three-member committee to review the criteria for reservation for the Economically Weaker Sections (EWS) category, the Ministry of Social Justice and Empowerment announced.
- The committee will be headed by former finance secretary Ajay Bhushan Pandey and other members are member secretary of Indian Council of Social Science Research (ICSSR) V K Malhotra and principal economic advisor to the government Sanjay Sanyal. The committee has been asked to complete its work within three weeks.
First-ever Aharbal festival held in J-K’s Kulgam to promote tourism
Continuing its promotional campaign of offbeat tourist destinations in the valley, tourism department Kashmir in collaboration with district administration Kulgam organised a day-long Aharbal festival in south Kashmir’s Kulgam district.
- The department organized the 1st ever Lolab festival, a one-day festival at Chandigam Lolab in north Kashmir’s Kupwara district, J&K, and Doodhpathri Festival, a 3-day tourism festival at Budgam, J&K, to promote Doodhpathri as an attractive tourist destination.
Telangana, Kerala top in H1 capex; UP, Maha among laggards: Report
Telangana and Kerala lead the capital expenditure chart of states in the first half of 2021-22 while the biggest two spenders, Uttar Pradesh and Maharashtra, are the laggards with not even spending a fifth of the budgeted amount, thereby pulling down the overall capex by states to a low 28.4% in the period, shows a report.
- According to Madan Sabnavis, the chief economist at Care Ratings, 24 states have budgeted for Rs 5,76,181 crore capex for FY22 but have spent only Rs 1,63,868 crore in H1FY22, which is just 28.4 per cent. Of the Rs 5.76 lakh crore by 24 states, the top 10 states constitute as much as Rs 4.45 lakh crore or 77 per cent.
- While UP is the largest in term of capex planned at Rs 1,14,274 crore, it has spent only 20.8 per cent of it Rs 23,803 crore, followed by Maharashtra with a capex of Rs 59,139 crore but has spent only Rs 8,454 crore so far while the smaller states like Telangana tops the list of states with the highest capex spends at Rs 14,814 crore in H1 which is 51.9 per cent of the budgeted Rs 28,518 crore for the full year.
- The other big spenders are MP (46.5 per cent of its Rs 39,704 crore capex budget) and Rajasthan has spent 40.5 per cent of the budgeted Rs 26,936 crore, while the other big laggards are Tamil Nadu, Karnataka, Bihar, Gujarat, and Andhra.
Merriam-Webster chooses vaccine as the 2021 word of the year
Merriam-Webster announced that “vaccine” was its word of the year for 2021.
- The selection follows “vax” as word of the year from the folks who publish the Oxford English Dictionary. And it comes after Merriam-Webster chose “pandemic” as tops in lookups last year on its online site.
South Korea to get world’s first floating city by 2025
The world’s first “floating city” will be built off the coast of South Korea — and it will be hurricane-proof, flood-proof and self-sustaining.
- The United Nations-backed project will be constructed off the coast of Busan and was designed as a response to rising sea levels. It is expected to be completed by 2025.
- The futuristic city will be made up of large hexagonal platforms that float on the water. The design will utilize a limestone coating that’s buoyant, despite being two to three times as hard as concrete, project leaders told the outlet.
BANKING & FINANCE
SBI signs MoU with Usha International for empowering women entrepreneurs
State Bank of India (SBI) has signed an agreement with Usha International Limited (UIL) for empowering women entrepreneurs by providing financial assistance.
- The financial assistance will be provided under the Joint Liability Group model, SBI said.
- As per the Memorandum of Understanding (MoU) signed between SBI and UIL, branches of the bank in Uttarakhand, Delhi, Western UP, and NCR Haryana will be financing women entrepreneurs to Usha Silai School to purchase sewing machines for enhancement and upgradation of technical sewing skills or to purchase thread of clothes, etc. related to above for running their livelihood.
NBFC Agriwise Finserv partners Central Bank of India for agri loan disbursals
Agriwise Finserv Limited, an agri-focussed NBFC, has entered into a co-lending agreement with Central Bank of India for agri-loan disbursal.
- The co-lending agreement will ensure that the farmer, agri and allied community get finance at affordable rates in a simple, transparent and speedy manner.
- The loan will be disbursed at a blended interest rate, as per the RBI directive on co-lending of loans.
HSBC India launches recycled PVC plastic credit card
HSBC India launched India’s first credit card made from recycled PVC plastic.
- This roll-out is part of a new programme launched by HSBC Group to introduce sustainable cards across all its global locations with a view to supporting its global commitments to sustainability and a net-zero future.
- Made from 85% recycled plastic, the new cards will help save 3.18 gm of plastic waste per card in addition to helping lower overall carbon emission.
ADB approves USD 125 million loan for water supply and sanitation projects in Uttarakhand
The Asian Development Bank (ADB) has approved a loan of USD 125 million (around Rs 938 crore) for water supply and sanitation projects in Uttarakhand.
- The funds will be utilised to improve access to quality water supply and sanitation services in the Himalayan state.
- Under this project, 136 The of water pipe system will be constructed to replace defective water networks in South Dehradun.
RBI supersedes Reliance Capital board, appoints Nageswar Rao as administrator
The Reserve Bank of India (RBI) superseded the board of directors of Reliance Capital Ltd , belonging to the Anil Ambani group, in view of the defaults by RCL in meeting the various payment obligations to its creditors and serious governance concerns which the board has not been able to address effectively.
- The central bank has appointed Nageswar Rao Y, former Executive Director, Bank of Maharashtra, as the Administrator of the company under Section 45-IE (2) of the RBI Act.
- The RBI will also apply to the National Company Law Tribunal, Mumbai for appointing the Administrator as the Insolvency Resolution professional.
Govt sells Central Electronics to Nandal Finance and Leasing for Rs 210 cr
The government approved sale of Central Electronics Ltd to Nandal Finance and Leasing for Rs 210 crore, marking the second strategic disinvestment of the current fiscal.
- Incorporated in 1974, CEL, under the Ministry of Science and Technology, is a pioneer in the field of Solar Photovoltaic (SPV) and has developed the technology with its own R&D efforts. It has also developed axle counter systems that are being used in railway signalling systems for safe running of trains.
BUSINESS & ECONOMY
redBus, IRCTC collaborate to launch rail ticketing service ‘redRail’
Online bus ticketing platform redBus announced its foray into rail ticketing with the launch of redRail.
- redBus has launched this rail ticket booking service in collaboration with IRCTC (Indian Railway Catering & Tourism Corporation) as their authorised partner.
- The Android app users of redBus will be able to make reservations for bus as well as rail travel now within the same app. In an official statement, redBus has stated that the service will be available on desktop, mobweb and iOS phones.
India’s GDP grows at 8.4 per cent in second quarter of current fiscal
India’s Gross domestic product, GDP, for the second quarter of the current fiscal logged fastest growth among major economies in the world.
- According to the government data released, GDP of the country grew by 8.4 percent from a year ago. As per the National Statistics Office, NSO, data, Manufacturing output increased 5.5 percent during the period while construction segment grew 7.5 percent in the second quarter.
UAE’s Ahmed Nasser Al Raisi elected Interpol president
The International Criminal Police Organisation (Interpol) has elected Major General Dr. Ahmed Nasser Al Raisi, inspector general of the UAE’s Ministry of Interior, as its new president.
- In the final round, the UAE candidate received 68.9 per cent of votes cast by member countries.
- As president, Al Raisi’s role during his four-year term will be to chair meetings of the executive committee which supervises the implementation of decisions taken at the General Assembly.
Magdalena Andersson re-elected as Sweden’s first female PM
Sweden’s first female prime minister Magdalena Andersson has been reappointed as the head of the country’s government, less than a week after she resigned within hours of taking the job.
- Andersson served as prime minister for seven hours before stepping down last week after the Greens left her two-party coalition.
- Their move followed the parliament’s rejection of her government’s budget proposal in favour of one presented by opposition parties including the right-wing populist Sweden Democrats.
NDTV, The Week journalists honoured with International Press Institute award
The International Press Institute (IPI) India Award for Excellence in Journalism-2021 has been awarded jointly to Sreenivasan Jain and Mariyam Alavi of NDTV, and Lakshmi Subramanian and Bhanu Praksh Chandra of The Week.
- Jain and Alavi have been awarded for their report on “untruthfulness of the cases of forcible conversion registered against young men belonging to the Muslim community who had married Hindu women in Uttar Pradesh, in the name of love Jihad.
- The award has been jointly given to Subramanian and Praksh Chandra of The Week on their report on tracing Indians, especially women, who were trapped in refugee camps in the civil war-torn regions of Syria and Iraq.
Lionel Messi and Alexia Putellas win Ballon d’Or awards
Lionel Messi won the men’s Ballon d’Or for a record-extending seventh time, ending the year in style after a brilliant final season with Barcelona and earning his first major international trophy with Argentina.
- Alexia Putellas became the third winner of the women’s award for an outstanding season with Barcelona and Spain.
- In other awards, the Kopa Trophy for the best under 21 player went to 19-year-old Spain and Barcelona midfielder Pedri. He caught the eye at Euro 2020 and reached the Olympic final.
- The Lev Yashin for best goalkeeper was won by Gianluigi Donnarumma, who helped Italy win the Euros.
SCIENCE & TECHNOLOGY
Centre launches ‘unique’ face recognition technology for pensioners
Minister of State for Personnel Jitendra Singh launched a “unique” face recognition technology that would act as a proof of ‘life certificate’ for pensioners and ensure ease of living for the retired and elderly citizens.
- All pensioners are mandated to submit their life certificate annually to continue receiving pension. The Ministry of Personnel, Public Grievances and Pensions has already implemented a facility of giving the certificate digitally.
- The central government has been sensitive to the needs of pensioners and to ensure ease of living for them. Soon after coming to power in 2014, the government decided to introduce and implement digital life certificate for the pensioners. This unique face recognition technology will further help pensioners.
China launches new communications satellite ChinaSat 1D
China successfully launched a new communications satellite from the Xichang Satellite Launch Centre in southwest Sichuan Province.The satellite, ChinaSat 1D (Zhongxing 1D) was launched by a Long March-3B carrier rocket and entered the planned orbit successfully.
- Developed by the China Academy of Space Technology, the satellite is able to provide high-quality voice, data, and radio and television transmission services.
- The launch marked the 399th mission for the Long March series carrier rockets.
BOOKS & AUTHORS
“Indian Innings: The Journey of Indian Cricket from 1947” book by Ayaz Memon
The book titled ‘Indian Innings: The Journey of Indian Cricket from 1947’ written by Ayaz Memon has been released recently.
- It is an anthology of Indian Cricket and marked several insights of Indian cricket of the last 70 years. The book has covered the era of veteran cricketers K N Prabhu to P N Sundaresan and Dicky Rutnagar to Ramachandra Guha and Suresh Menon, those years of famous victories consist of experiences about World Cups, various Test cricket, etc.
Noted Telugu Lyricist Sirivennela Seetharama Sastry passes away
Award-winning Telugu lyricist and Padma Shri awardee Sirivennela Seetharama Sastry passed away. He was 66.
- Sastry had penned over 3000 songs. He wrote songs for films like Swayamkrushi, Swarna Kamalam, Shrutilayalu, Gaayam, Swati Kiranam, Kshana Kshanam, Sindhooram, Nuvve Kavali, Okkadu, Varsham and Gamyam among others. He was known for his classical style of writing, rich with poetry.
- In 2019, Sirivennela Seetharama Sastry was awarded the Padma Shri for his contribution and excellence in the field of arts.
Bangladesh: Renowned scholar Rafiqul Islam passes away
Renowned scholar and national professor of Bangladesh Professor Rafiqul Islam passed away in Dhaka. He was 87.
- Prof Rafiqul Islam was one of the greatest scholars on the national poet of Bangladesh Kazi Nazrul Islam.
- He was honoured with Swadhinta Padak and the Ekushey padak, which is the highest civilian award of Bangladesh. He was a recipient of the Bangla Academy Literary Award. He had written close to 30 scholarly books.