Daily Current Affairs 11 September 2021 for Banking/Insurance/SSC and other related exams.
IIT Bombay, IIA sign MoU to extend operation of telescope in Ladakh
The Indian Institute of Technology Bombay signed an MoU with the Indian Institute of Astrophysics (IIA) for extending the ongoing collaboration for operations and scientific utilisation of the GROWTH-India Telescope in Ladakh.
- The GROWTH-India telescope was set up jointly by IIA and IIT Bombay under a project supported by DST-SERB and the Indo-US Science and Technology Forum, and became operational in 2018. Under this partnership, the organisations agreed to jointly continue the operations of the project.
- The Growth-India Telescope is a 0.7m wide-field telescope set up in Ladakh.It is the country’s first fully-robotic optical telescope and one of the few such facilities present outside of Europe and the USA.
- The main focus of the interdisciplinary project is to undertake continuous studies of cosmic sources that have rapidly-varying properties like emission from gravitational wave events, young supernovae and near-earth asteroids.
MoS IT launches PMGDISHA drive for 100% Digital Literacy of all digital villages
Shri Rajeev Chandrasekhar, Ministry of Electronics, Minister of State for Electronics & IT, graced the ‘Launch Program of PMGDISHA Drive & Announcement of 100% Digital Literacy of all digital villages’ under Azadi Ka Amrit Mahotsav.
- The PMGDISHA drive has been launched under the PMGDISHA scheme, a flagship Digital Literacy scheme of the Government for rural areas. Under the campaign, a three-day certification drive for rural citizens especially women and disadvantaged communities will be conducted from September 8th to 10th. From September 11th to 13th September, a certification drive for the PMGDISHA scheme will be conducted in a similar manner.
- Apart from this Common Service Center (CSC) also proposed to make all the Digital Villages 100 percent Digital Literate.
Govt sets up panel to frame new laws for drugs, devices and cosmetics
The government has set up an expert committee to frame new laws for medicines, cosmetics and medical devices in a bid to replace the existing Drugs and Cosmetics Act which was formed in 1940.
- An eight-member committee headed by the drug regulator has been formed by the ministry of health and family welfare. The committee will have to submit the draft by November 30.
- At present, there is no distinction between the regulatory treatment of drugs and medical devices. The Drugs and Cosmetics (D&C) Act, 1940 regulates the import, manufacture, distribution and sale of drugs and cosmetics. Both drugs and medical devices are now regulated by the Central Drugs Standard Control Organisation (CDSCO) under the health ministry.
Chandigarh gets country’s tallest air purifier
To mark the International Day of Clean Air for Blue Skies, the tallest air purification tower of the country was inaugurated by UT Adviser Dharam Pal.The Chandigarh Pollution Control Committee (CPCC) had taken an initiative to install the tower at Transport Chowk, Sector 26.
- This is the highest air purifier of India, which will cover around a 500-metre radius around Transport Chowk. Polluted air enters the inner casing of the mist chamber, wherein a number of mist nozzles spray water in the form of mist on the polluted air.
- This purifier has been installed by Pious Air Pvt Limited without any cost to the UT Administration. It will also operate and maintain it for five years without any cost.
India to host G-20 summit in 2023 for the first time
The government appointed commerce and industry minister Piyush Goyal as India’s Sherpa for the G20.
- Goyal is also India’s minister for consumer affairs, food & public distribution, and textiles besides being the Leader of the House in Rajya Sabha.
- India has been a member of the G20 since its inception in 1999. India will be holding the G20 Presidency from 1 December 2022 and will convene the G20 Leaders’ Summit in 2023 for the first time.
- The next G20 Summit is scheduled for October 30-31, 2021 under Italian Presidency.
South Korea becomes 8th country to fire ballistic missile from sub
South Korea joined an exclusive club last week, becoming only the eighth country to successfully test-fire a submarine-launched ballistic missile (SLBM), as its rival to the north stepped up preparations for a military parade that could see Pyongyang unveil yet more powerful weapons.
- South Korea has test-fired a ballistic missile (SLBM) from a submarine, Yonhap becoming the first country without nuclear weapons to develop such a capability.SLBMs have been developed by seven other countries, including the United States, Russia, China, Britain, France, India, and North Korea. All of those countries also have arsenals of nuclear weapons, which have typically been used to arm SLBMs.
- The conventionally armed South Korean missile has reportedly been codenamed the Hyunmoo 4-4 and is believed to be a variant of the country’s Hyunmoo-2B ballistic missile, with a flight range of around 500 kilometres (311 miles).
Prime Minister Narendra Modi chairs 13th BRICS Summit
Prime Minister Shri Narendra Modi chaired the 13th BRICS Summit virtually.The theme of the Summit, chosen by India, was, [email protected]: Intra-BRICS Cooperation for Continuity, Consolidation and Consensus.
- Prime Minister expressed his appreciation for the cooperation received from BRICS partners during India’s Chairship this year, which allowed the achievement of several new initiatives. These included the first BRICS Digital Health Summit; the first BRICS Ministerial Joint Statement on multilateral reforms; a BRICS Counter-Terrorism Action Plan; an Agreement on cooperation in field of remote-sensing satellites; a virtual BRICS vaccine Research & Development Centre; BRICS Alliance on Green Tourism, etc.
- Highlighting the leading role that BRICS countries can play in the post-COVID global recovery, Prime Minister called for enhanced BRICS cooperation under the motto of ‘Build-back Resiliently, Innovatively, Credibly and Sustainably’.
- At the conclusion of the Summit, the leaders adopted the ‘New Delhi Declaration’.
BANKING & FINANCE
South Indian Bank partners OneCard to launch credit card
South Indian Bank (SIB), has joined hands with fintech company OneCard to launch its credit card SIB – OneCard.
- The credit card is internationally valid on the Visa Signature platform can be fully administered via OneCard app.
- The card is loaded with many exciting features like lifetime validity with zero joining and annual fees, 100% digital customer on-boarding process, etc.
Karnataka Bank launches a new POS device, ‘WisePOSGo’
Karnataka Bank in collaboration with Mswipe Technologies Pvt., Ltd., launched WisePOSGo – a point of sales (POS) device that processes business payments of its merchant customers.
- The POS machine is an all-in-one swiping machine loaded with advanced features, including contact-less payment, mobile phone, QR Code, Pay by link, Magstripe, barcode scanner, 5 megapixel camera etc.
- It supports 4G, WiFi, Bluetooth and micro–USB and can connect through Facebook, YouTube, and WhatsApp also.
Bank of Baroda tops the MeitY Digital Payment Scorecard for 2020-21
Bank of Baroda announced that the bank has ranked number 1 with a total of 86 per cent marks on the scorecard issued by the Ministry of Electronics and Information Technology (MeitY) for February and March 2021.
- In the same period last year BOB was rated “Average” by Meity, which has now been upgraded as “Good”.
- The scorecard ranks 44 banks (Public Sector Banks, Private Banks, Foreign Banks, Payments Banks, Small Finance Banks) on various parameters on the digital business.
HDFC Bank signs pact with NSIC to provide credit support to MSMEs
HDFC said it has signed a pact with the National Small Industries Corporation (NSIC) for providing credit support to the micro, small and medium enterprise (MSME) sector.
- Under this, the country’s largest private sector bank will also provide MSMEs with a set of specially-tailored schemes to enhance their competitiveness.
RBI removes lending curbs on UCO Bank
State-owned UCO Bank will no longer be subject to strict lending curbs imposed in May 2017, with the Reserve Bank of India (RBI) taking the lender out of the prompt corrective action (PCA) restrictions.
- With this, only two banks remain under PCA—Indian Overseas Bank and Central Bank of India.
- The central bank uses the PCA framework to rein in banks that have breached certain regulatory thresholds in bad loans and capital adequacy. PCA entails curbs on high-risk lending, setting aside more money on provisions and restrictions on management salary.
SBM Bank India ties up with Lendingkart to offer overdraft facility for working capital to MSMEs
SBM Bank India has tied up with fintech player Lendingkart for providing working capital to micro, small and medium enterprises (MSMEs) through an overdraft facility.
- With this collaboration, SBM Bank will offer a customised overdraft facility to over one lakh customers of Lendingkart, largely MSMEs.
- It will be a flexible credit line for the customers sourced through digital channels, offering on-demand disbursement with zero physical paperwork and ready account statements.
Paytm Money launches investment advisory marketplace on platfor
Digital payments and financial firm Paytm announced that its wholly-owned subsidiary, Paytm Money, is launching a wealth and investment advisory marketplace on its platform to offer curated advisory services and products to retail investors.
- Paytm Money has partnered with start-up WealthDesk to offer investment portfolios called ‘WealthBaskets’ as the first step to build up the advisory ecosystem.
- A ‘WealthBasket’ is a custom portfolio of stocks and exchange traded fund created by Securities and Exchange Board of India (SEBI)-Registered investment professionals and users will be able to invest in multiple Wealthbaskets via the free starter pack or by subscribing to premium monthly packs available.
CAG GC Murmu gets elected as ASOSAI chairman
The Comptroller and Auditor General of India (CAG) G.C. Murmu has been elected as chairman of the Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI) for the period 2024-27.
- Murmu was elected by the 56th governing board of ASOSAI and approval for the same was conveyed by the 15th assembly of ASOSAI.
- India will host the 16th Assembly of ASOSAI in 2024.
Govt. appoints G.S. Pannu as Officiating ITAT President
The Central Government has appointed G.S. Pannu as President of the Income Tax Appellate Tribunal.
- The appointment is in officiating capacity with effect from the forenoon of 6th September, 2021, till the regular President is appointed or until further orders, whichever is earlier.
- Pannu was serving as the Vice-President of the Tribunal. Before his appointment in ITAT as Accountant member, he practised as a Chartered Accountant at New Delhi from 1986-2000.
Andhra appoints former SBI chief Rajnish Kumar as economic advisor
The Andhra Pradesh government has appointed Rajnish Kumar as its economic advisor. A former SBI chairman, Rajnish Kumar’s tenure in the cabinet rank position is for two years.
- The appointment comes amid the growing concerns over the state’s financial situation which has been badly hit by the Covid pandemic, even as the opposition has been critical over the sops and freebies being distributed by the Y.S. Jagan Mohan Reddy-led state government.
AG Thankappan Appointed as Chairman of Spices Board
AG Thankappan has been appointed as the Chairman of Spices Board, Kochi, by the Appointments Committee of the Cabinet (ACC) for a period of three years.
- The appointment will come in effect from the date of assumption of the charge of the post, or on co-terminus basis with the tenure of the Board, or until further orders, whichever is earlier.
- The Spices Board of India, headquartered in Kochi, is the Indian government’s regulatory and export promotion agency for spices. It was founded in the year 1987 under Spices Board Act, 1986.
ICRISAT awarded 2021 Africa Food Prize
The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) has been awarded the 2021 Africa Food Prize for work that has improved food security across 13 countries in sub-Saharan Africa.
- The award was presented at African Green Revolution Forum (AGRF) summit at Nairobi.
- Between 2007 and 2019, it led a collaboration of partners to deliver the Tropical Legumes Project. The project, undertaken together with the International Center for Tropical Agriculture (CIAT) and the International Institute of Tropical Agriculture (IITA), developed 266 improved legume varieties and almost half a million tons of seed for a range of legume crops, including cowpeas, pigeon peas, chickpea, common bean, groundnut, and soybean.
Ramesh Narayan to be inducted into AFAA’s Hall of Fame at AdAsia 2021
Indian advertising doyen Ramesh Narayan will be inducted into the Asian Federation of Advertising Associations (AFAA) Hall of Fame at AdAsia 2021 slated to be held on December 3,4.
- The AFAA Hall of Fame sets out to recognise the best of the very best. It’s for those who’ve defined a generation of advertising. Ramesh Narayan is a legend who has the ability to look past what’s good enough and focus on making everything better than it has to be.
- Ramesh has been honoured with AAAI Lifetime Achievement Award, the International Advertising Association Global Champion Award, the Public Relations Society of India Special Award, the Association of Business Communicators of India Lifetime Achievement Award, and an induction into the Hall of Fame of the India Chapter of the IAA.
SCIENCE & TECHNOLOGY
China successfully launches new Earth observation satellite
China successfully launched a new Earth observation satellite, Gaofen-5 02, into space, aboard a Long March-4C rocket, from the Taiyuan Satellite Launch Centre in north China’s Shanxi Province.
- The Gaofen-5 02 satellite is the 24th in the series of Gaofen Earth-observation satellites of China, to monitor environmental protection efforts and boost its natural resources surveillance.
- It is a hyperspectral satellite that will be used for comprehensive environmental monitoring, to improve the country’s hyperspectral observation capacity of the atmosphere, water and land.
Environmentalist Anil Joshi announced that Himalaya Diwas will be observed on September 9 in Uttarakhand. It was organized by the National Mission for Clean Ganga.
- This year’s theme is ‘Contribution of Himalayas and our responsibilities’. The event was part of the ongoing celebration of ‘Azadi ka Amrit Mahotsav’.
International Day to Protect Education from Attack
United Nations observed the International Day to Protect Education from attack on September 9 every year.
- This day is observed to raise awareness on the need to protect education from attack. The becomes significant because in most of the countries with armed conflicts, military uses schools and other educational institutions.