Daily Current Affairs 11 March 2021 for Banking/Insurance/SSC and other related exams.
Nitin Gadkari inaugurates two Technology Centres, three Extension Centres of MSME
Union Minister of Micro, Small and Medium Enterprises, Nitin Gadkari inaugurated the two Technology Centres and three Extension Centres of MSME virtually.
- The Technology Centres which were inaugurated have been set up at Visakhapatnam and Bhopal and the Extension Centres at Srinagar, Jaipur and Nagaur.
- The MSME has rolled out the Technology Centres Systems Programme to develop the competitiveness ecosystems of MSME in the country.
- These Technology Centres will train more than 16 thousand students annually and have infrastructure for training and production.
India’s Electric Vehicle financing industry projected to be Rs 3,70,000 Crore in 2030
India’s Electric Vehicle financing industry is projected to be Rs 3,70,000 Crore in 2030. This was said in the report titled Mobilising Electric Vehicle Financing in India, which was released by NITI Aayog and Rocky Mountain Institute India.
- The report highlights the role of finance in India’s transition to electric vehicles.
- The report analyses that the transition will require a cumulative capital investment of over 19 lakh crore rupees in electric vehicles, charging infrastructure, and batteries over the next decade.
- The report has also proposed a toolkit of 10 solutions that can be adopted in catalysing the required capital.
Cabinet approves ‘PM Swasthya Suraksha Nidhi’ as single non-lapsable reserve fund
The Union Cabinet approved the Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN) as a single non-lapsable reserve fund for share of Health from the proceeds of Health and Education Cess levied under Finance Act, 2007.
- The major benefit of PMSSN will be enhanced access to universal and affordable health care through availability of earmarked resources, while ensuring that the amount does not lapse at the end of financial year.
- Pradhan Mantri Swasthya Suraksha Nidhi, PMSSN is a non-lapsable reserve fund for Health in the Public Account and Proceeds of share of health in the Health and Education Cess will be credited into it.
- The administration and maintenance of the Pradhan Mantri Swasthya Suraksha Nidhi is entrusted to the Health Ministry and in any financial year, the expenditure on such schemes would be initially incurred from the PMSSN and thereafter from Gross Budgetary Support.
Odisha CM Naveen Patnaik inaugurates India’s first World Skill Centre at Bhubaneswar
Odisha CM Naveen Patnaik inaugurated India’s first World Skill Centre at Mancheswar Industrial Area on the birth anniversary of legendary Biju Patnaik.
- The World Skill Centre, an 18 storey building is aimed to make Odisha the global capital of trained manpower and is dedicated to different skills and trades.
- With an aim to make Odisha the global capital of trained manpower, each floor of the 18 storey #WSC building will be dedicated to different skills and trades.
France launches first military exercises in space
France launched its first military exercise in space to evaluate its ability to defend its satellites and other defense equipment from an attack.
- The exercise, codenamed “AsterX” in memory of the first French satellite from 1965, will be based on 18 simulated events in an operations room.
- During the drill, the French military will monitor a potentially dangerous space object as well as a threat to its own satellite from another foreign power possessing a considerable space force.
BANKING & FINANCE
AckoDrive partners with IDFC FIRST Bank to issue free FASTags
AckoDrive, a one-stop solution for first-hand car buying, has announced a partnership with IDFC FIRST Bank to issue free FASTags. With AckoDrive getting a FASTag is hassle free and convenient.
- Unlike FASTags issued by others, AckoDrive’s digital platform requires no issuance fee, no paperwork or security deposit. Any private car owner can purchase a FASTag from AckoDrive’s platform by submitting a few personal and vehicle details and by adding the initial wallet money of Rs. 100 to recharge the FASTag.
- These FASTags can also be used for contactless payments for fuel purchase at HPCL pumps.
- During the purchase, AckoDrive will automatically create a FASTag wallet for the car owner with IDFC FIRST bank. It can be easily recharged through the AckoDrive platform itself, along with other regular options.
Ujjivan Small Finance Bank launches women savings account
Ujjivan Small Finance Bank has announced the launch of a “Women Savings Account” catering to the financial needs of women.
- ‘Garima Savings Account’, as the product has been named, will offer multiple customised benefits to women, including up to a maximum of 7% rate of interest on the savings account.
- Garima Savings Account offers a higher cash deposit and free unlimited withdrawal at any Ujjivan SFB branch with no additional charges for non-home branch transactions. Customers would also enjoy unlimited free NEFT and RTGS transactions through internet banking and mobile banking.
KVGB launches loan scheme for women entrepreneurs
The Dharwad-headquartered Karnataka Vikas Grameen Bank (KVGB) has launched the ‘Vikas Asha’ loan scheme for women.
- This new loan scheme is exclusively for women to meet business-related needs, including purchasing machinery/equipment/vehicle, and working capital requirements under micro and small enterprises, including retail trade.
- Under this scheme, the bank will extend loan up to a maximum of ₹10 lakh with a repayment period of 84 months.
Axis Bank launches Contactless Wearable Payment Devices
Private sector lender Axis Bank launched the country’s first contactless wearable payment devices to allow customers make on-the-go transactions more conveniently. Announcing the ‘Wear N Pay’ wearable devices brand, Axis Bank said it is the first bank in India to offer such a service.
- The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform. The wearables are directly linked to the customers’ bank account and function like a regular debit card. Customers can do their purchases at any merchant location that accepts contactless transactions.
BUSINESS & ECONOMY
Wipro joins World Economic Forum initiative to advance racial justice, social equality
Wipro has joined the World Economic Forum’s (WEF) ‘Partnering for Racial Justice in Business’ initiative to promote a culture of diversity, inclusion, equity and justice for people of all racial backgrounds in the workplace.
- The initiative is aimed towards driving action and accountability for companies to confront racism at a systemic level, set new global standards for racial justice in business and accomplish necessary policy changes for inclusion and advancement of professionals with under-represented racial and ethnic identities.
Cabinet approves amendments in Insurance Act to Increase FDI up to 74%: Report
The Union Cabinet gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian.
- The Cabinet in its meeting has approval for amendments in the Insurance Act, 1938. Increase in FDI will help improve life insurance penetration in the country.
Anurag Thakur becomes first serving minister to be appointed Captain in Territorial Army
Union Minister Anurag Thakur became the first serving MP to be appointed as Captain in the Territorial Army. The four-time BJP MP from Himachal Pradesh’s Hamirpur was commissioned into the Territorial Army as a Lieutenant by then Chief of Army Staff (COAS) General Dalbir S Suhag TA in July 2016.
- Thakur was promoted as Captain in the 124 Sikh regiment.
Amitabh Bachchan becomes first Indian film personality to be felicitated with FIAF Award
Megastar Amitabh Bachchan will be honoured with an award by the International Federation of Film Archives (FIAF).
- The veteran actor will be the first Indian cinema personality to be bestowed with the FIAF Award for his dedication and contribution to the preservation of the world’s film heritage.
- The FIAF is a worldwide organisation, comprising of film archives and museums from across the world.
President Ram Nath Kovind presents Baton of Honor to Kiran Bedi
President Ram Nath Kovind presented a decorated with the emblem of the Indian Republic and a letter of appreciation to former Puducherry lieutenant governor Kiran Bedi at Rashtrapati Bhavan.
- Kiran Bedi was removed as the Lieutenant Governor of Puducherry on February 16 by the President of India and Tamilisai Soundararajan took additional charge as the Lieutenant Governor on February 18.
Tamilisai Soundararajan presented Global Women of Excellence Award
Lt. Governor Tamilisai Soundararajan was presented the Top 20 Global Women of Excellence Award for 2020 at a US event.
- She joined a league of extraordinary women achievers across the world chosen for the award, including US Vice President Kamala Harris.
- The award instituted by the US Congressional Multi Advisory Task Force led by Congressman Danny K. Davis, Representative of Illinois’s 7th Congressional district, was presented during the 9th Congressional International Women’s Day Gala at Naperville, Illinois.
- The award jury appreciated the efforts of Dr Soundararajan in making a difference to society through her efforts in fighting for the women’s rights and gender-equality and empowerment.
Ravichandran Ashwin declared Player of the month by ICC
India’s premier off-spinner Ravichandran Ashwin was named the ICC men’s Player for the Month of February for his stellar show against England in a four-match Test series at home which India won to qualify for the World Test Championship final.
- England’s Tammy Beaumont was adjudged the women’s Player of the Month.
Chess player Koneru Humpy from Andhra Pradesh wins BBC ISWOTY for 2020
Chess player Koneru Humpy from Andhra Pradesh has won the BBC Indian Sportswoman of the Year award (ISWOTY) for 2020, following a public vote.
- The 33-year-old beat sprinter Dutee Chand, airgun shooter Manu Bhaker, wrestler Vinesh Phogat and India hockey captain Rani Rampal to the award.
- Former long jumper Anju Bobby George was given the Lifetime Achievement award for her contribution to Indian sport. She remains the only athlete to win a World Championship athletics medal for her country.
- England’s cricketer Ben Stokes announced the winner of the Emerging Player of the Year award, with Manu Bhaker receiving the honour, which was added to the awards for the first time.
SCIENCE & TECHNOLOGY
INS Karanj – 3rd Kalvari class submarine commissioned into Indian Navy
Indian Navy’s third stealth Kalvari class Submarine INS Karanj has been commissioned at the Naval Dockyard Mumbai through a formal commissioning ceremony.
- Six Scorpene Class submarines are being built in India by the Mazagon Dock Shipbuilders Limited (MDL) Mumbai, under collaboration with M/s Naval Group, France.
- INS Karanj would form part of the Western Naval Command’s Submarine fleet and would be another potent part of the Command’s arsenal.
NSTL conducts maiden flight trial of indigenous light weight Torpedo
Visakhapatnam-based Naval Science and Technological Laboratory (NSTL) has successfully conducted the maiden flight trial of deploying Indigenous Instrumented Torpedo Advanced Light (TAL) with Parachute system from Indian Navy’s Aircraft IL-38SD off Visakhapatnam.
- This is the Nation’s first such trial for firing the indigenous light weight torpedo from fixed wing aircraft. The Light Weight Torpedo was designed, developed, produced and inducted into services a decade ago and is used against underwater platforms as part of ASW.
Dubai to launch Environmental Nanometric Satellite
Dubai Municipality, in collaboration with the Mohammed Bin Rashid Space Centre (MBRSC), has announced that it is preparing to launch the DMSat-1 satellite, the region’s first environmental nanometric satellite, from Baikonur Cosmodrome in Kazakhstan on March 20. The launch is part of a high-technology project undertaken to develop solutions to environmental challenges and address climate change.
- Using state-of-the-art space technologies, DMSat-1 will monitor, collect and analyse environmental data as well as measure air pollutants and greenhouse gases. The environmental satellite will also help create maps of the concentration and distribution of greenhouse gases in Dubai and the UAE and study seasonal changes in the presence of these gases.
BOOKS & AUTHORS
Chef Kunal Kapur pens new cookbook with childhood memories from his grandfather’s kitchen
Chef Kunal Kapur has written a new book titled “Kunal Kapur In The Kitchen“, published by Om Books International, is slated to be released on March 15.
- The book will offer recipes replete with memories of dining table conversations from Kapur’s childhood and layered with the aromas from his grandfather’s kitchen.
CISF celebrates 52nd Raising Day
Central Industrial Security Force (CISF) celebrated its 52nd Raising Day on March 10 in Uttar Pradesh’s Ghaziabad. CISF or Central Industrial Security Forces was instituted in the year 1969 with a motto to provide integrated protection to the Public Sector Undertakings (PSUs). Keeping into consideration the evolving demands of the dynamic nature of security, the force has been re-oriented and updated.