Daily Current Affairs 1 October 2021 for Banking/Insurance/SSC and other related exams.
Government increases the income limit of disabled dependents for family pension
The Ministry of Defence has enhanced the income criteria for grant of family pension to deceased pensioners’ children or siblings with a permanent mental or physical disability.
- Such dependents will be eligible for life-long family pension if “their overall income from sources other than family pension remains less than the entitled family pension at ordinary rate, i.e 30% of the last pay drawn by the deceased government servant or pensioner concerned plus the dearness relief admissible thereon.
- As of now, such dependents are eligible “if their overall monthly income from sources other than family pension is not more than ₹9,000/– along with dearness relief thereon.”
Centre to borrow ₹5.03 lakh crore in second half of FY22
The government will borrow Rs 5.03 lakh crore in the second half of the current fiscal in line with the estimate presented in the Budget for the fiscal year, a move that experts said move would cool yields.
- The H2 FY2021-22 projection also factors requirements for release of balance amount to states on account of back-to-back loan facility in-lieu of goods and services tax compensation during the year.
- The government had pegged its gross borrowing target for FY22 at Rs 12.5 lakh crore in the Union Budget 2021-22, presented by finance minister Nirmala Sitharaman earlier in February.
3-day ‘Nata-Sankirtana’ festival kicks off in Imphal
The Jawaharlal Nehru Manipur Dance Academy, Imphal announced that it is going to organise a ‘three-day Festival of Dance and Music (Nata Sankirtana) from September 28 to 30 at the Academy Mandap.
- On the first day of festival, students of JNMDA showcased Nata Sankirtana called Sheihou while artiste of Prachaya Nata Sankirtana Samaj, Khurai Thangjam Leikai, Imphal showcased Nata Sankirtana called Sheisin.
- Second day of the festival will mark the performance by artiste of Public Theatre Artiste Association in Phoijing, Nambol. They will perform Nata Sankirtana ( Sheihou). On the other hand, artiste of Indra Kala Bhavan from Moirang will perform Nata Sankirtana (Sheisin).
- Last day of the festival will be marked by performance of artiste from Nata Sangeet Academy & Research Centre, Yaiskul Janmasthan, Imphal. They will perform Nata Sankirtana (Sheihou).
Sports Ministry to launch nationwide month-long Clean India Programme
Sports Minister Anurag Thakur will launch a nationwide month-long Clean India Programme from Prayagraj in Uttar Pradesh to encourage people’s participation in cleaning waste, mainly single use plastic.
- The cleanliness drive, to be organised by the sports ministry, is being taken up as part of Azadi ka Amrit Mahotsav and will run from October 1 to 31.
- The programme is being organised in six lakh villages of 744 districts across the country through the networks of Nehru Yuva Kendra Sangathan(NYKS) affiliated Youth Clubs & National Service Scheme affiliated Institutions.
- Through this mega initiative, 75 lakh kg waste will be collected and disposed with the support and voluntary participation of citizens.
Cabinet nod to ‘PM Poshan’ scheme for providing cooked meals to school kids
The Union Cabinet approved the roll-out of the ‘PM POSHAN in Schools’ scheme for the five years, from 2021-22 to 2025-26, with a financial outlay of Rs 54061.73 crores from the central government and Rs 31,733.17 crore from the state governments and union territory administrations.
- The scheme will provide hot cooked meal to students of elementary classes in government and government-aided schools across the country.
- The existing mid-day meal scheme will be subsumed into the PM Poshan Shakti Nirman scheme with the addition of several new components in it.
BANKING & FINANCE
RBI removes Indian Overseas Bank from Prompt Corrective Action framework
The Reserve Bank removed Indian Overseas Bank from the Prompt Corrective Action Framework (PCAF), following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.
- On a review of the performance of the IOB, the Board for Financial Supervision on the basis of the published financial results for 2020-21, found that the bank was not in breach of the PCA parameter.
Tata AIA Life Insurance ties up with Practo for online medical consultation
Tata AIA Life Insurance said it has tied up with integrated healthcare company Practo for online medical consultation for its customers.
- As part of the alliance, Tata AIA consumers can avail themselves of online medical consultations from verified doctors anywhere, anytime.
- This includes assistance for common ailments like cold, fever and injury, thereby enabling them to seek immediate medical guidance from the safe and comfortable environment of their home.
IFSCA constitutes panel for development of sustainable finance hub
Gift city regulator International Financial Services Centres Authority (IFSCA) constituted an Expert Committee to recommend approach towards development of Sustainable Finance Hub and provide road map for the same.
- The expert committee will be chaired by CK Mishra, former Secretary to Government of India, Ministry of Environment, Forest and Climate Change.
- The committee has been tasked to study the current regulatory practices in sustainable finance across major international financial jurisdictions and recommend a robust framework to develop a world-class sustainable finance hub at IFSCA.
BUSINESS & ECONOMY
Britannia ties up with Accenture to accelerate its digital transformation
Packaged-food major Britannia Industries has collaborated with the global IT and professional services company Accenture to accelerate its digital transformation across multiple retail channels.
- Accenture, through a digital transformation program, has helped Britannia Industries to accelerate innovation, capture value and improve the customer and supplier experience.
- For Britannia’s large network of suppliers, this project will help streamline procurement and supply chain management, using SAP Ariba solutions to expedite digital onboarding, contract management and procurement processes.
TCS signs a 5-year IT transformation deal with German bank NORD/LB
IT services major Tata Consultancy Services (TCS) has been selected by NORD/LB, a leading German commercial bank, as its strategic partner for its IT transformation. The financial details of the deal were not disclosed.
- NORD/LB has embarked on a transformation journey that targets a new business model by 2024, and a leaner, more agile operating model. It has partnered with TCS in this journey
- As part of the five-year partnership, TCS will work with the bank to simplify and transform its application estate across businesses–financial markets, wholesale and retail banking, through application consolidation and automation.
India hockey star Rupinder Pal Singh announces retirement
Drag-flicker Rupinder Pal Singh, who played a starring role in the Indian hockey team’s historic bronze-winning Tokyo Olympics campaign, announced his international retirement with immediate effect “to make way for youngsters”.
- The 30-year-old, regarded as one of the best drag-flickers of the country, represented India in 223 matches.
- He was named as vice-captain of India’s 2014 World Cup campaign besides being a member of the Commonwealth Games silver medal-winning side the same year.
- Rupinder has two Asian Games medals in his kitty — a gold in 2014 Incheon and bronze in 2018 Jakarta.
Actor Ranveer Singh appointed brand ambassador for NBA in India
The National Basketball Association (NBA) named Bollywood star Ranveer Singh the NBA Brand Ambassador for India.
- Singh will work with the NBA to help grow the league’s profile in India throughout its 75th anniversary season in 2021-22.
Govt extends additional charge of PK Purwar as MTNL CMD till Oct 2022
The Appointments Committee of the Cabinet extended the additional charge of PK Purwar as chairman and managing director of loss-making telecom firm MTNL for a period of one year.
- Purwar also holds the position of chairman and managing director of debt-ridden firm BSNL.
Mangu Singh’s tenure as DMRC MD extended till March 31 next year
The government has extended the tenure of Mangu Singh as the managing director of the Delhi Metro Rail Corporation till March 31, 2022, according to an official order issued.
- The extension comes amid the ongoing work on Ph-IV of the Delhi Metro network, as new construction and operations were severely hit earlier due to the coronavirus pandemic and the lockdowns it had induced
SCIENCE & TECHNOLOGY
North Korea claims successful test of a hypersonic missile
North Korea test-fired a newly developed hypersonic missile, state news media KCNA reported, joining a race headed by major military powers to deploy the advanced weapons system.
- While the exact specifications of North Korea’s hypersonic Hwasong-8 missile are not yet known, missiles with hypersonic glide vehicles can theoretically fly as fast as 20 times the speed of sound and can be very maneuverable in flight, making them almost impossible to shoot down.
Management guru Professor Bala V Balachandran passes away
Management guru and founder of Great Lakes Institute of Management (GLIM) – Professor Bala V Balachandran died following a brief illness.He was 84.
- Balachandran had played an instrumental role in establishing many management institutes in the country. He was honoured with the ‘Padma Shri’ award by the Centre for his contribution to education.
- In 2004, he set up the Great Lakes Institute of Management at Manamai, about 45 km from here, which is one of the popular business schools in the country now.