Daily Current Affairs 14 January 2021 for Banking/Insurance/SSC and other related exams.
Two-day coastal defence drill ‘Sea Vigil-21’ held
The Indian Navy kick-started a two-day multi-agency military exercise covering India’s 7,516 km-long coastline, involving 13 coastal States and Union Territories, to further bolster maritime security and surveillance.
- Billed as India’s largest coastal defence drill, the second edition of exercise ‘Sea Vigil’ is being organised to check the efficacy of the measures initiated to plug gaps in coastal security following the Mumbai terror attack in 2008.
- The exercise will provide a realistic assessment of our strengths and weaknesses and thus will help in further strengthening maritime and national security.
Cabinet approves MoU between India, UAE for scientific and technical cooperation
The Union Cabinet, chaired by the Prime Minister Narendra Modi has given its approval to the Memorandum of Understanding on scientific and technical cooperation between National Centre of Meteorology of the United Arab Emirates and Ministry of Earth Sciences.
- The MoU will enable sharing of knowledge, data and operational products for meteorological, seismological and oceanic services between both the countries
- This MoU will facilitate exchange of scientific and technical information, deployment of Meteorological observation networks over ocean, mutual cooperation in the development of special capacities and research of Tsunami models for faster and more reliable forecasts of Tsunamis.
Odisha sets up India’s first ‘Fire Park’ to spread awareness on fire safety measures
Odisha Chief Minister Naveen Patnaik inaugurated the ‘Fire Park’, a first of its kind initiative in the country, to bring awareness on fire safety measures. He also launched a dynamic online portal, ‘AgnishamaSeva’ of Odisha Fire Service on virtual platform.
- Located inside the premises of the Odisha Fire and Disaster Academy in Bhubaneswar, the Fire Park will be open to the public every Saturday from 3.30 pm to 5.30 pm. Demonstrations on use of first aid fire-fighting equipment, rescue and disaster operations, visit to exhibition hall, screening of films and distribution of leaflets on fire safety will be part of the activities.
WHO, UNICEF, MSF, IFRC collaborate to establish global Ebola vaccine stockpile
The four leading international health and humanitarian organisations announced the establishment of a global Ebola vaccine stockpile to ensure outbreak response.
- The effort to establish the stockpile was led by the International Coordinating Group (ICG) on Vaccine Provision, which includes the World Health Organization (WHO), UNICEF, the International Federation of Red Cross and Red Crescent Societies (IFRC), and Médecins Sans Frontières (MSF), with financial support from Gavi, the Vaccine Alliance.
- The stockpile will allow countries, with the support of humanitarian organisations, to contain future Ebola epidemics by ensuring timely access to vaccines for populations at risk, during outbreaks.
BANKING & FINANCE
RBI forms working group on digital lending as frauds come into sharp focus
With frauds in digital lending space coming into sharp focus, the Reserve Bank of India has set up a working group to study digital lending activities of the regulated and unregulated players.
- The group will suggest steps to regulate digital lending including online lending platform and mobile lending.
- The six-member panel comprised of four RBI internal and two external members is expected to submit its report within three months. Jayant Kumar Dash, Executive Director, RBI will be chairman of the group. Other three internal members are Ajay Kumar Choudhary, Chief General Manager-in-Charge, Department of Supervision, P Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, RBI and Manoranjan Mishra, Chief General Manager, Department of Regulation. Mishra will be act as Member Secretary of the group.
IRDAI sets up panel to examine availability of health insurance products
Regulator Irdai set up a panel of experts to examine the availability of health insurance products in the country considering the need of the Indian society and recommend suitable products and processes.
- IRDAI Chairperson, Subhash Chandra Khuntia will head the committee and Member (Non-Life) will be the vice-chairperson.Members of the committee include Nachiket Mor (Visiting Scientist, Banyan Academy of Leadership in Mental Health), A K Chand (Professor and Neurosurgeon, Bangalore), B K Mohanti (Former Professor and Oncologist, AIIMS), K Hari Prasad (Anaesthetist, Hyderabad), and Pankaj Sharma (IRDAI).
FSS and India Post Payments Bank join hands to promote financial inclusion
FSS (Financial Software and Systems), a leading payment processor and provider of integrated payment products, has partnered with India Post Payments Bank (IPPB) to promote financial inclusion among underserved and unbanked segments.
- As part of the collaboration, IPPB will use FSS’ Aadhaar Enabled Payment System (AePS) to deliver interoperable and affordable doorstep banking services to customers across India. FSS’ AePS solution combines the low-cost structure of a branchless business model, digital distribution, and micro-targeting that lowers acquisition costs and improves reach.
- This strategic partnership offers significant opportunities to bring millions of unbanked customers into the financial mainstream.
BUSINESS & ECONOMY
FY21 GDP to contract 6.7%: Nomura
Based on data shown by its proprietary models, Nomura also revised up wits FY21 GDP forecast to a contraction of 6.7 per cent, as against the official estimate of a 7.7 per cent contraction in the pandemic-impacted fiscal year.
- The Nomura India Monthly Activity Indicatorrose to-2.3 per cent in December provisionally when compared to the year-ago period’s performance, and was much better than the -7.7 per cent year-on-year witnessed in November and -13.3 per cent in September.
Tesla sets up its Indian subsidiary in Bengaluru, Karnataka
The US-based electric and clean energy company Tesla has opened a fully-owned subsidiary in India with its offices in Bengaluru.The company has been registered with an authorised capital of ₹15 lakh and a paid-up capital of ₹1 lakh.
- According to Karnataka Government officials, Tesla was exploring the possibility of setting up an R&D centre based in Bengaluru.
- It is also in talks with the State government for setting up an assembly plant at Dharwad in north Karnataka.
Bengaluru World’s Fastest Growing Tech Hub, London Second: Report
Bengaluru has emerged as the world’s fastest-growing mature tech ecosystem in the world since 2016, followed by the European cities of London, Munich, Berlin and Paris, with India’s financial centre of Mumbai in sixth place, according to new research released in London.
- Dealroom.co data analysed by London & Partners the Mayor of London’s international trade and investment agency reveals that investment in the Karnataka capital of Bengaluru grew 5.4 times from USD 1.3 billion in 2016 to USD 7.2 billion in 2020, with the Maharashtra capital of Mumbai growing 1.7 times from USD 0.7 billion to USD 1.2 billion in the same period. The UK capital of London registered an impressive three times growth between 2016 and 2020, rising from USD 3.5 billion to USD 10.5 billion.
- Bengaluru is also ranked sixth for the world’s tech venture capitalist (VC) investments, on a global list topped by Beijing and San Francisco, New York, Shanghai and London making up the top five. Mumbai comes in at No. 21 in the worldwide ranking, with Boston and Singapore among the other high-ranking cities.
SCIENCE & TECHNOLOGY
NIC and CBSE jointly launch CollabCAD Software
National Informatics Centre (NIC) along with Central Board of Secondary Education (CBSE) are jointly launching CollabCAD software, a collaborative network, computer-enabled software system, providing a total engineering solution from 2D drafting and detailing to 3D product design for students and faculty of engineering graphics curriculum.
- NIC, CBSE and Atal Innovation Mission (AIM), NITI Aayog will also jointly release a comprehensive e-book on CollabCAD 3D modeling. This ebook 1.0 is ready for public release through the CollabCAD portal and will guide CAD students, beginners, and professionals in understanding and using CollabCAD software. It is designed and authored by the CollabCAD Group of NIC, New Delhi.
- This initiative aims to provide a great platform to students across the country to create and modify 3D digital designs with a free flow of creativity and imagination.
Odisha Padma Shri awardee D Prakash Rao passes away
Noted social activist and Padma Shri awardee D Prakash Rao passed away at the SCB Medical College Hospital in Cuttack.He was 63.
- Rao, a Padma Shri, was known for his contribution towards imparting education to slum and orphan children in Cuttack.
Armed Forces Veterans Day
Indian Armed Forces Veterans Day is celebrated on 14th of January every year to honour services rendered by veterans of the Army.
- This year is being celebrated as Swarnim Vijay Varsh. It marks 50th Anniversary of 1971 Indo-Pak War.
- The day was chosen as recognition of the services rendered by the first Commander-in-Chief of Indian Armed Forces, Field Marshal KM Cariappa, OBE who retired on this day in 1953.