Daily Current Affairs 16 June 2021 for Banking/Insurance/SSC and other related exams.
Sikkim CM presents Rs 9852.85 crore budget for 2021-22
Sikkim Chief Minister Prem Singh Tamang presented a Rs 9852.85 crore budget for the financial year 2021-22, saying that the Covid-19 pandemic has damaged the backbone of small Himalayan state’s economy.Of the Rs 9852.85 crore, the net outgo has been kept at Rs 9588.65 crore, Tamang said while presenting the budget on the inaugural day of the two-day assembly season.
- The differential amount of Rs 264.20 crore has been calculated as the recoveries from various heads.
- The chief minister, in his speech, threw light on the economic scenario in Sikkim saying that the restrictions imposed in the state during the two waves of the pandemic has damaged the backbone of the state’s economy.
- The tourism sector, in particular, has taken a hit by more than Rs 900 crore, while the state’s Gross Domestic Product has been pegged back by more than Rs 2200 crore, he said.
UP Cabinet Approves Proposal for World-class Bus Station in Ayodhya
The Uttar Pradesh Cabinet cleared a proposal for the construction of a bus station on par with international standards in Ayodhya at a cost of Rs 400 crore.
- Buses will be run between Ayodhya and all major cities of the state from this station. The Cabinet also approved a proposal to build a four-lane flyover on the Ayodhya-Sultanpur road. The 1.5-km-long flyover will be built at a cost of over Rs 20 crore.
Centre Launches ‘Project O2 for India’ to Ensure Supply of Medical Oxygen Amid Pandemic
The office of the Principal Scientific Adviser to the Government said ‘Project O2 for India’ has been initiated to ensure supply of critical raw materials such as zeolites, setting up of small oxygen plants, and manufacturing of compressors.
- The consortium is not only looking forward to providing immediate to short-term relief but also working to strengthen the manufacturing ecosystem for long-term preparedness.
- A committee of experts has been evaluating critical equipment such as oxygen plants, concentrators, and ventilators from a pool of India-based manufacturers, start-ups, and Micro, Small and Medium Enterprises (MSMEs).
Guj CM Inaugurates Command Centre for Real-time Monitoring of Govt Schools
Gujarat Chief Minister Vijay Rupani inaugurated a command-and-control centre in Gandhinagar to monitor the activities of over 54,000 government-run schools in the state.
- Gujarat has become the first state in the country to come up with a real-time monitoring system for schools.
- Through this control room, senior officials can monitor the implementation of various schemes and initiatives, such as home learning and periodic assessment, which were launched by the state government to improve the quality of education.
India, Kuwait Sign MoU for Cooperation on Recruitment of Domestic Workers
India and Kuwait have signed an MoU that brings Indian domestic workers in the Gulf nation within the ambit of a legal framework that streamlines their recruitment and provides them with the protection of the law.
- The MoU seeks to establish a mechanism for 24-hour assistance to domestic workers.
- It provides for the establishment of a joint committee for periodic review and assessment and to follow up the implementation of the MoU which will conduct annual meetings.
Navi Mumbai Airport to Be Named After Bal Thackeray
The Navi Mumbai International Airport will be named after Shiv Sena founder late Bal Thackeray, Urban Development Minister Eknath Shinde has said.
- The airport, coming up in neighbouring Navi Mumbai, is expected to relieve the pressure on the Mumbai international airport.
- Bal Thackeray, the father of Maharashtra Chief Minister Uddhav Thackeray, had floated Shiv Sena in 1966 and served as its chief until his death in 2012.
Centre Allocates Whopping Rs 10,870.5 Crore to UP Under Jal Jeevan Mission
The Centre has allocated a whopping Rs 10,870 crore to Uttar Pradesh under the Jal Jeevan Mission for 2021-22, the highest allocation so far to any state, the Ministry of Jal Shakti said.
- The amount is more than four times what was allocated to the poll-bound state last year.
- Uttar Pradesh has assured to achieve the goal of providing water to every rural household by 2024.
Over $1 trillion needed by 2030 to put world on track to reach net-zero by 2050
The Paris-based International Energy Agency (IEA) has said that emerging and developing countries need as much as $1 trillion of clean energy financing by 2030 if they are to hit 2050 net-zero emissions targets.
- In its latest report Financing Clean Energy Transitions in Emerging and Developing Economies, the IEA said that clean energy investment in emerging and developing economies declined by 8 percent in 2020 to less than $150 billion and is only expected to rebound slightly in 2021.
- This means that these economies, which include almost every country in the Middle East and North Africa, need to ramp up investment sevenfold to put the world on course for net-zero emissions targets by 2050.
BANKING & FINANCE
Ambuja Cement Foundation and NABARD to skill rural youth across the nation
Ambuja Cement Foundation (ACF), Corporate Social Responsibility (CSR) arm of Ambuja Cements Ltd, which is working towards empowerment of rural communities joins hands with National Bank for Agriculture and Rural Development (NABARD) for the implementation of its ‘Employability through Skill Initiative Project (ESIP) Phase II.
- ACF received grant assistance from NABARD under the Gramya Vikas Nidhi, a fund created for the development of off-farm sector activities.
- ESIP will provide skill training across 19 ACF locations for a period of two years in 12 trades and has already reached over 4000 youth despite the pandemic. Besides skill training, the course also includes soft skills and leadership skills as part of the training module. On completion of training, the students will be provided with placement and hand-holding support post placement.
Ujjivan Small Finance Bank collaborates with MoEngage
Ujjivan Small Finance Bank said it has collaborated with customer engagement platform MoEngage to drive digital banking experiences in the unserved and underserved regions of the country.
- The engagement aims to build a vast presence of the bank for connecting with customers in these regions through multiple digital touchpoints.
- The partnership, it added, will foster holistic customer experience across all organic channels, like the website, app, email, text message, social media and branches to drive business growth.
Policybazaar gets insurance broking licence
Leading web aggregator Policybazaar said it has got approval from regulator IRDAI to undertake insurance broking, a development that will help the company augment business and expand bouquet of services.
- With this development, the company will surrender its web aggregator licence to Insurance Regulatory and Development Authority of India (IRDAI) and undertake business including insurance aggregation under the broking umbrella.
- The broking licence will allow the company to venture into segments which it could not do in the past like claims assistance, offline services, and establish Points of Presence network.
BUSINESS & ECONOMY
GST Council slashes tax on medical supplies needed for covid treatment
Ministry of Finance has notified the reduction or waiver in GST rates to be levied on items used for preventing or treating Covid. The GST Council, in it meeting, had slashed tax rates on critical medication and paraphernalia related to Covid-19 infection.
- The reduced rates will remain in effect till September 30, 2021, the Gazette notification read. The rationalisation in GST rates will also apply to existing stocks of Covid relief items.
- Remdesivir, which has become immensely popular over the past few months for treating Covid patients, will now be taxed at 5 per cent instead of the earlier 12 per cent.
- The GST Council had decided that any other drug recommended by Ministry of Health and Family Welfare (MoHFW) and Department of Pharmaceuticals (DoP) for Covid treatment will be taxed at 5 per cent.
Rajnath Singh inaugurates BRO’s two Centres for Excellence
Defence Minister, Rajnath Singh dedicated to the nation two Centres of Excellence established by Border Roads Organisation (BRO) at Seema Sadak Bhawan in New Delhi. These Centres have been established to achieve excellence in road safety as well as foster growth in the construction of roads, bridges, airfields and tunnels.
- The Centre of Excellence for Road Safety & Awareness (CoERSA) strives to raise awareness about road safety by analysing and sharing the details of road accidents and recommending solutions to save precious lives.
- The Centre of Excellence for Roads, Bridges, Air Fields and Tunnels (CoERBAT) focuses on institutionalising the knowledge and expertise gathered over the years in the development of almost 60,000 kilometres of roads, 56,000 metres of bridges, 19 airfields and 4 tunnels in the eastern and north-western part of the nation.
ACQUISITIONS & MERGERS
Tata Digital to Acquire Majority Stake in 1MG
Tata Digital Ltd, a wholly-owned arm of Tata Sons, said it will acquire a majority stake in 1MG Technologies Ltd, an online healthcare marketplace.
- The company, however, did not disclose the financial details of the transaction.
- The investment is in line with Tata group’s vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner.
Wrestler Vinesh Phogat Clinched Gold Medal In Poland Open
Asian champion and star wrestler Vinesh Phogat clinched gold in the 53kg category at the Poland Open.
- The Indian wrestler was in top-notch form during the game as she defeated Khrystyna Bereza of Ukraine 8-0 in Final.
Sports Minister Kiren Rijiju Launches Centralised Athlete Injury Management System
Sports Minister Kiren Rijiju launched an ambitious initiative to provide world class treatment and rehabilitation to elite athletes injured during competition or training.
- The Centralised Athlete Injury Management System (CAIMS) aims to provide inputs on prevention, diagnosis and high quality treatment and rehabilitation to athletes on time and maintain records for mapping their injury via an Online Athlete Management System.
- This system, to be run by the Sports Authority of India (SAI) in collaboration with the leading medical experts of the country, will be applied initially to the developmental group of athletes for the 2024 Paris Olympics and will broaden to others later on.
Kathryn Bryce, Mushfiqur Rahim Named ICC Players Of The Month For May
Bangladesh wicketkeeper-batsman Mushfiqur Rahim and Scotland all-rounder Kathryn Bryce have been named the ICC Players of the Month for May 2021. Both cricketers have received the awards following exemplary performances for their teams recently.
- Mushfiqur Rahim was the top scorer in the recently-concluded 3-match ODI series against Sri Lanka at home. He scored 237 runs in the three matches and helped Bangladesh win their first ODI series against Sri Lanka by scoring 125 in the second ODI.
- All-rounder Kathryn Bryce is the first player from Scotland – male or female – to make it to the top 10 of the batting or bowling lists in the ICC Player Rankings released recently. Kathryn played four T20Is against Ireland where she scored 96 runs and took 5 wickets with an economy rate of 4.76 in the month of May.
SCIENCE & TECHNOLOGY
IIT Ropar Develops India’s First Power-Free CPAP Device ‘Jivan Vayu’
Indian Institute of Technology (IIT) Ropar has developed a device ‘Jivan Vayu’ which can be used as a substitute for a CPAP machine.
- This is the nation’s first such device that functions even without electricity and is adapted to both kinds of oxygen generation units like O2 cylinders and oxygen pipelines in hospitals.
- ‘Jivan Vayu’ can deliver high flow oxygen (20–60 LPM) while maintaining a continuous positive pressure of up to 20 cm H2O. The device is designed to maintain an FiO2 of above 40% with a PEEP (positive end-expiratory pressure) of 5-20 cm H2O.
UK, Indian Scientists Develop Low-cost Sensor to Detect Covid-19 in Wastewater
UK and Indian scientists have jointly developed a low-cost sensor that can detect fragments of the virus responsible for COVID-19 within wastewater.
- The technique, developed by researchers from the University of Strathclyde and the Indian Institute of Technology (IIT) Bombay, could be used to enable widespread monitoring of COVID-19 prevalence in low- and middle-income countries which struggle to conduct mass human testing.
- The sensor was tested with wastewater collected from a sewage treatment plant in Mumbai spiked with SARS-Cov-2 Ribonucleic Acid (RNA).
UK Scientists Develop Gadget That Sniffs Out Covid-19
Electronic devices may soon be used to identify the presence of infection in a crowded space using body odour profiles after scientists in the UK have tested a so-called “COVID alarm”.
- Early studies by scientists at the London School of Hygiene and Tropical Medicine (LSHTM) and Durham University show that COVID-19 infection has a distinct smell, resulting from changes in the volatile organic compounds (VOC) which make up the body odour – generating an odour “fingerprint” that the sensors can detect.
- Led by researchers from the LSHTM and biotech company RoboScientific Ltd with Durham University, the study tested devices with organic semi-conducting (OSC) sensors, which could potentially be used as a COVID-19 screening tool.
Senior Congress Leader Indira Hridayesh Passes Away
Leader of Opposition in the Uttarakhand assembly, Indira Hridayesh, passed away after suffering a cardiac arrest in New Delhi. She was 80.
- Hridayesh was a Congress MLA from Haldwani and one of the seniormost Congress leaders from the state.
- Hridayesh was the finance minister of Uttarakhand from 2012 to 2017 and also held the portfolios of parliamentary affairs and higher education and planning in the Congress government led by Harish Rawat.
Pritzker Prize Laureate Gottfried Bohm Passes Away
German architect Gottfried Böhm, designer of the brutalist Church of the Pilgrimage, has passed away aged 101.
- Böhm, who was the eighth winner of the prestigious Pritzker Architecture Prize, was widely known for his concrete churches that were largely built in Germany.
International Day Of Family Remittances
The United Nations General Assembly established the International Day of Family Remittances (IDFR) to be marked on June 16.
- This day emphasises migrant workers’ incredible perseverance in the face of economic insecurity, environmental and climate-related tragedies, and a worldwide pandemic.
- The theme of IDFR this year is ‘Recovery and resilience through digital and financial inclusion.’ It was expected that COVID-19 would hit family remittances, however, the resilience in remittance flows was underestimated.
World Wind Day 2021
June 15 is celebrated as Global Wind Day, also known as World Wind Day.
- This day is observed to raise awareness about wind energy and how its harnessed. Not only that, its benefits and workings are also looked at.