Daily Current Affairs 16 January 2021 for Banking/Insurance/SSC and other related exams.
Piyush Goyal inaugurates two-day ‘Prarambh: The Startup India International Summit’ in New Delhi
The two-day summit that began in New Delhi was inaugurated by the union minister for railways, consumer affairs, commerce and industry Piyush Goyal. The summit is being organized by Department for Promotion of Industry and Internal Trade.
- Prime Minister Narendra Modi will address the Start-Up India International Summit ‘Prarambh’. The Startup India International Summit marks five years of the launch of the Startup India initiative. which has played a key role in encouraging the spirit of entrepreneurship across India.
- The Summit is a demonstration of neighbourhood first policy which will booster partnership among the member countries.
India, Japan sign MoU to enhance cooperation in ICT, including 5G tech
India and Japan signed a memorandum of understanding (MoU) to enhance cooperation in the field of Information and Communications Technology (ICT), including 5G standardisation.
- As per the agreement, both the countires will enhance mutual cooperation in the field of 5G technologies, telecom security, submarine optical fibre cable system to islands of India, spectrum management, smart cities, high-altitude platform for broadband in unconnected areas, disaster management and public safety.
BANKING & FINANCE
RBI forms working group to examine lending transactions via online portals, apps
Reserve Bank of India has constituted a Working Group (WG) on digital lending including lending through online platforms and mobile apps.It will study aspects of digital lending activities in the regulated and unregulated financial sector.The group will submit its report within three months.
- The working group consists of both internal and external members. The internal members include Jayant Kumar Dash, Executive Director, RBI (Chairman); Ajay Kumar Choudhary, Chief General Manager in-charge, Department of Supervision, RBI; S.P. Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, RBI; and Manoranjan Mishra, Chief General Manager, Department of Regulation, RBI (Member Secretary).
- The external members are Vikram Mehta, co-founder, Monexo Fintech; and Rahul Sasi, cyber security expert and founder of CloudSEK.
BUSINESS & ECONOMY
CARE lowers Centre’s fiscal deficit projection to 7.8% of GDP
CARE Ratings has revised downwards its projection of the Centre’s fiscal deficit to 7.8 per cent of GDP during FY21 against its earlier estimate of 9-9.5 per cent.
- This revision comes in the wake of the release of the first advance estimate of gross domestic product (GDP) for FY21 and the credit rating agency’s expectations on the finances of the Central Government.
- On adding the amount borrowed for Good and Services Tax (GST) compensation to states, the fiscal deficit could widen to 8.4 per cent of GDP.
Intel appoints Pat Gelsinger as new CEO
Chip giant Intel has announced that tech leader Pat Gelsinger will become its new CEO.
- The 40-year tech industry veteran will replace Bob Swan as Intel’s CEO on 15 February.
- Gelsinger most recently served as CEO of software company VMWare. Prior to these roles, Gelsinger worked at Intel for more than 30 years. In that time, he became the company’s first chief technology officer, and is noted for driving work on key industry technologies such as USB and Wi-Fi.
Tribal Affairs Minister Arjun Munda to receive SKOCH Challenger Award virtually
Tribal Affairs Minister Arjun Munda will virtually receive SKOCH Challenger Award conferred to the Ministry of Tribal Affairs for e-Governance.
- The award has been given to the Ministry for its IT-led initiatives and other transformational initiatives leading to outcome-based performance improvement
SCIENCE & TECHNOLOGY
DRDO develops India’s first indigenous machine pistol ASMI
The Pune-based facility of the Defence Research and Development Organisation (DRDO) and the Indian Army’s Mhow-based Infantry School have jointly developed India’s first indigenous 9mm machine pistol named ‘Asmi’.
- The pistol is likely to have a production cost lower than Rs 50,000 each and has export potential as well.
- Machine pistols are primarily self-loading versions of pistols which are either fully automatic or can also fire bursts of bullets.
- The 3D printing technology has been used in designing and prototyping of various parts, including trigger components which have been made by metal 3D printing.
Rajnath Singh unveils India’s first indigenously developed driverless metro car
Defence Minister Rajnath Singh unveiled the country’s first indigenously designed and developed Driverless Metro Car at the BEML manufacturing facility in Bengaluru .
- According to BEML, state-of-the-art driverless metro cars, being manufactured at the company’s Bangalore Complex, are made up of stainless-steel body with a capacity of carrying 2280 passengers in six-cars Metro train-set.
- BEML bagged a total order of 576 cars for Mumbai Metropolitan Region Development Authority (MMRDA)’s MRS1 project and the supply is scheduled progressively up to January 2024.
Former MP B. S. Gnanadesikan passes away
TMC vice-president and former MP B S Gnanadesikan, a staunch loyalist of Congress leader G K Moopanar, died at a private hospital in Chennai after prolonged illness. He was 71.
- A two-time Rajya Sabha MP and former TNCC president, Gnanadesikan, an ardent follower of former chief minister K Kamaraj, was much liked and respected even in the opposition camps.
Former Union Minister Kamal Morarka Passes Away at 74
Former Union minister and noted businessman Kamal Morarka died after a brief illness. He was 74.
- Morarka was a Union minister in the Chandra Shekhar government in 1990-91 and a Rajya Sabha member from Rajasthan from Janata Dal (Secular) during 1988-94.
- Morarka was also a noted industrialist and was the chairman of Morarka Organic. He headed the Samajwadi Janata Party (Rashtriya) since 2012.
- Morarka had a keen interest in sports and served as vice-president of the Board of Control for Cricket in India (BCCI) and Vice President of Rajasthan Cricket Association. He was also a philanthropist and social worker and contributed to organic farming in his native Shekhawati in Rajasthan. He also published a book of wild life photographs.