Daily Current Affairs 13 October 2021 for Banking/Insurance/SSC and other related exams.
Union Cabinet approves the continuation of Swachh Bharat Mission (Urban) and AMRUT 2.0 till 2025-26
The Union Cabinet approved the second phase of the Swachh Bharat Mission-Urban and the Atal Mission for Rejuvenation and Urban Transformation till 2025-26.
- A financial outlay of Rs 1,41,600 crore has been finalised for SBM-U 2.0, including a central share of Rs 36,465 crore, which is over 2.5 times the financial outlay of Rs 62,009 crores in the last phase of the mission, the government said.
- The second phase of SBM focuses on sustainability of Open Defecation Free (ODF) outcomes, achieving scientific processing of solid waste in all cities, and managing waste water in cities with less than one lakh population as per Census 2011.
- The Cabinet also approved the second phase of the Atal Mission for Rejuvenation and Urban Transformation as a step towards Atmanirbhar Bharat and with the aim of making the cities ‘water secure’ and ‘self-sustainable’ through circular economy of water.
- Total indicative outlay for AMRUT 2.0 is Rs 2,77,000 crore, including a central share of Rs 76,760 crore, for five years from FY 2021-22 to FY 2025-26.
PM Modi launches PM Gati Shakti Master Plan
In a landmark event marking a milestone for the infrastructural landscape of India, Prime Minister Narendra Modi launched the ‘PM GatiShakti – National Master Plan’ for multi-modal connectivity to economic zones in the country.
- The plan is an important part of Prime Minister Modi’s ‘Aatmanirbhar Bharat’ (self-dependent India) vision and ambitiously aims to lend more power and speed to projects under the $1.5-trillion National Infrastructure Pipeline and boost the goal of achieving a $5-trillion economy, especially in wake of the recent economic impacts of the coronavirus disease (Covid-19) pandemic.
- The ambitious plan envisages a centralised portal to unite the infrastructural initiatives planned and initiated by as many as 16 central ministries and departments.
ITCA Bengaluru launches 75 Students’ Satellites Consortium: Mission 2022
Indian Technology Congress Association in Bengaluru focuses on building synergies between academia, industry and research organisations. It has initiated an ambitious programme to commemorate the 75 years of Indian Independence. It has launched 75 Students’ Satellites Consortium: Mission 2022.
- Under the mission, a consortium of 75 students will build satellites to be launched by ISRO. AIR correspondent reports that the Indian Technology Congress Association has collaborated with various organisations such as TMISAT of Israel, CSPD Serbia and UNISEC of Japan to design and launch the student-built satellite by 2022 when India completes its 75 years of Independence.
Karnataka govt signs MoU with NASSCOM to provide industry suited skill training to students
The Karnataka State Higher Education Council has entered into an MoU with the National Association of Software and Service Companies, NASSCOM to provide industry-suited skill training to the youth.
- The MoU will benefit over five lakh students studying in the institutions of higher learning in Karnataka every year.
- The skill training courses are designed as per the national occupational standards of the National Skills Qualification Framework. Both faculty and students can have free access to the course materials in the online mode.
Haryana bans govt employees from participating in politics & elections
Haryana has banned government employees from participating in politics and elections. A notification has been issued from the office of the chief secretary in this regard. A government spokesperson said, any violation of the order will invite immediate and strict disciplinary action.
- As per the notification, no government employee should be a member of any political party or any organisation, which takes part in politics. They should also not aid or assist any political movement or activity. Display of any electoral symbol by a government employee on his person, vehicle or residence will amount to using his influence in connection with an election.
Govt to open 10,000 Pradhan Mantri Bhartiya Janaushadhi Kendras by March 2024
Government has set a target to increase the number of Pradhan Mantri Bhartiya Janaushadhi Kendras to ten thousand by March 2024. Chemicals and Fertilizers Ministry said, the number of Janaushadhi stores has increased to eight thousand 366 and all the 736 districts have been covered.
- Pradhan Mantri Bhartiya Janaushadhi Pariyojana, PMBJP was launched in November, 2008, with an objective of making quality generic medicines available at affordable prices to all.
INS Ranvijay, INS Satpura participate in Multilateral Maritime Ex Malabar Phase II in Bay of Bengal
INS Ranvijay (D55) and INS Satpura (F48) are participating in Multilateral Maritime Ex Malabar Phase II in Bay of Bengal. The Exercise has the participation of nine ships including US Aircraft carrier USS Carl Vinson (CVN 70), Japanese Helicopter Carrier JS Kaga (DDH 184), USS Lake Champlain (CG 57), USS Stockdale (DDG 106), HMAS Sirius (O266), HMAS Ballarat FFH 155) and JS Marasame (DD 101).
- The Second Phase of the exercise is focusing on advanced surface and anti-submarine warfare exercises, seamanship evolution and weapon firings.
Germany launches world’s first automated, driverless train
German rail operator Deutsche Bahn and industrial group Siemens unveiled the world’s first automated, driver-less train in the city of Hamburg, billing it as more punctual and energy efficient than traditional trains.
- Four such trains will join the northern city’s S-Bahn rapid urban rail network and start carrying passengers from December, using the existing rail infrastructure.
- The project, which Siemens and Deutsche Bahn called a “world first”, is part of a 60 million euro ($70 million) modernisation of Hamburg’s rapid urban rail system.
BANKING & FINANCE
RBI grants banking licence to Unity Small Finance Bank
The Reserve Bank of India 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.
IIFL Finance launches instant business loan on WhatsApp
IIFL Finance has launched instant business loan on WhatsApp, whereby users of the latter will be able to avail loan up to ₹10 lakh with minimum documentation and get approval in five minutes.
- The retail-focussed non-banking finance company (NBFC), in a statement, claimed that it has become the first NBFC in the country to launch instant business loan on WhatsApp.
- To avail loan from IIFL Finance through WhatsApp, the user will have to send a “Hi” message to a specified number, then share basic details, complete KYC, verify bank transfer details, mandate registration and receive funds in account instantly.
Ezetap partners with Axis Bank to bring ‘My Vyappar’ for the retail segment
Ezetap, a digital payments leader, has joined hands with Axis Bank, who has been at the forefront of driving innovation in retail acquiring, to introduce the latest offering My Vyappar to retail businesses in India.
- Through My Vyappar, Axis Bank will introduce a host of services enabling effective digital payments management for the merchants across the country.
- As part of the partnership, over 50,000 smart POS devices have already been deployed with My Vyappar across 1600+ cities.
Bharti AXA Life Launches “Bharti AXA Life Unnati”
Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, announced the launch of a new participating savings product – Bharti AXA Life Unnati.
- This plan is designed to provide long term financial stability to individuals with the dual benefits of savings and protection in one single plan.
- Bharti AXA Life Unnati is a comprehensive product that offers four plan options, flexible premium payment terms and multiple add-ons in terms of riders. This allows customers to customize the product as per their needs and life goals.Bharti AXA Life Launches “Bharti AXA Life Unnati”
Low-Income Country Debt Rises to Record $860 Billion in 2020
The World Bank warned of a significant 12% rise in the debt burden of the world’s low-income countries to a record $860 billion in 2020 as a result of the COVID-19 pandemic, and called for urgent efforts to reduce debt levels.
- The e bank’s International Debt Statistics 2022 report showed a dramatic increase in the debt vulnerabilities facing low- and middle-income countries; he also urged for comprehensive efforts to help countries reach more sustainable debt levels.
- The report said the external debt stocks of low- and middle-income countries combined rose 5.3% in 2020 to $8.7 trillion, affecting countries in all regions.
- It said the rise in external debt outpaced gross national income (GNI) and export growth, with the external debt-to-GNI ratio, excluding China, rising five percentage points to 42% in 2020, while their debt-to-export ratio surged to 154% in 2020 from 126% in 2019.
BUSINESS & ECONOMY
IMF projects 8.5 % growth rate in next fiscal year
International Monetary Fund (IMF) has projected that India will continue to be the world’s fastest growing major economy, clocking a growth rate of 9.5 per cent in 2021.
- As per latest IMF projections, Indian economy will grow at 8.5 percent in 2022. The world economy is expected to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022, according to IMF.
- The United States is projected to grow at six per cent this year and 5.2 per cent the next year. China, on the other hand, is projected to grow at 8 per cent in 2021 and 5.6 per cent in 2022. IMF said, global recovery continues, but the momentum has weakened and uncertainty has increased.
Welspun Corp first company from India to join the H2Pipe Joint Industry Project on Hydrogen Pipelines
Welspun Corp becomes first from India to join the H2Pipe Joint Industry Project on Hydrogen Pipelines.
- This industry-first project will provide guidance to the global energy sector as it shifts towards clean energy using alternative sources, with Hydrogen emerging as an important pillar for the energy transition.
- The company will help develop a recommended practice (RP) for the design, re-qualification, construction and operation of pipelines for hydrogen gas transportation in offshore pipelines and complement existing standards such as DNVGL ST F101 (submarine pipeline systems).
Ex-SBI Chief Rajnish Kumar joins BharatPe as Chairman
Rajnish Kumar, former chief of State Bank of India, has joined the Board of BharatPe, a fintech firm, as chairman.
- He will be involved in defining the company’s short-term and long-term strategies, and will so work closely with the other Board Members and CXOs on key business and regulatory initiatives, BharatPe said.
Former IAS officer Amit Khare appointed as PM Modi’s advisor
Former IAS officer Amit Khare has been appointed as advisor to Prime Minister Narendra Modi.
- The Appointments Committee of the Cabinet has approved the appointment of Mr Khare initially for a period of two years or until further orders. Mr Khare has recently retired from the post of Union Education Secretary.
- He had also served as secretary in Information and Broadcasting earlier.
EESL appoints Arun Kumar Mishra as CEO
State-owned Energy Efficiency Services Ltd (EESL), a joint venture of NTPC Ltd and Power Grid Corp. of India Ltd, has appointed Arun Kumar Mishra as chief executive officer (CEO) on deputation.
- This follows EESL’s executive vice chairperson Saurabh Kumar resigning.
- Mr. Mishra is a veteran in the energy sector, with more than three decades of experience in National Thermal Power Corporation Limited (NTPC) and Power Grid Corporation of India Limited (PGCIL) including Policy perspective as Director, National Smart Grid Mission (NSGM)– Project Management Unit (PMU) and Vice Chair, International Smart Grid Action Network (ISGAN).
Dr Randeep Guleria bags Lal Bahadur Shastri National Award for Excellence
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.
- 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.
SCIENCE & TECHNOLOGY
Giriraj Singh launches Climate Resilience Information System and Planning CRISP-M tool
Rural Development and Panchayati Raj Minister Giriraj Singh launched Climate Resilience Information System and Planning CRISP-M tool for integration of climate information in Geographic Information System, GIS-based watershed planning under Mahatma Gandhi NREGA along with Minister of State for South Asia and the Commonwealth in the UK Foreign, Commonwealth and Development Office Lord Tariq Ahmad through a virtual event.
- This tool will be used in seven states where in the Foreign Commonwealth and Development Office, Government of UK and Ministry of Rural Development, Government of India are jointly working towards climate resilience. The states are Bihar, Jharkhand, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Odisha and Rajasthan.
Chairman IFFCO, Sardar Balvinder Singh Nakai.passes away
Fertiliser major IFFCO’s Chairman Balvinder Singh Nakai,passed away. He was 87.
- Nakai was an eminent farmer – cooperator, and was deeply involved in providing strength to Indian cooperative movement for the last three decades.
International Day for Disaster Reduction
International Day for Disaster Risk Reduction is observed on October 13, every year. The day aims to promote a global culture of risk awareness and disaster reduction.
- The 2021 edition will focus on “International cooperation for developing countries to reduce their disaster risk and disaster losses”.