Daily Current Affairs 2 June 2021 for Banking/Insurance/SSC and other related exams.
RDSO Becomes First Standards Body To Join Govt’s ‘One Nation, One Standard’ Scheme
One Nation, One Standard scheme has been launched with an aim to synergize standards adopted by various Standard Development Organisations in the country. The voluntary integration scheme of multiple standard formulating bodies will bring uniformity in the quality of goods & services produced in the country and will boost the ‘Brand India’ image.
- Lucknow-based RDSO, which sets standards for the railway sector, has become the first standards body in the country to join the central government’s ‘One Nation, One Standard’ scheme that aims to ensure quality products to Indian consumers.
- The Research Design and Standards Organisation (RDSO) has now been recognised as a ‘Standard Developing Organisation’ by the Bureau of Indian Standards (BIS), which is implementing the scheme.
- The partnership will help RDSO, the sole R&D wing of the railways ministry, to realign its standard formulation procedures as per the code of good practices mentioned under the WTO-Technical Barriers to Trade (WTO-TBT).
Cabinet approves MoC between India, Japan in field of sustainable urban development
Cabinet approved Memorandum of Cooperation ( Moc) between India and Japan in the field of sustainable urban development.
- A Joint Working Group (JWG) will be constituted to strategize and implement programmes on cooperation under the framework of the MoC.
- The Joint Working Group will meet once in a year, alternately in Japan and in India.
Centre allocates Rs 7,000 cr grant to West Bengal under Jal Jeevan Mission for 2021-22
The Centre has allocated around seven thousand crore rupees grant to West Bengal under Jal Jeevan Mission for 2021- 22 to provide every household with assured tap water supply on regular and long-term basis.
- At the time of announcement of Jal Jeevan Mission, out of 163.25 lakh rural households in West Bengal, tap water supply to home was limited to only 2.14 lakh households which is about one per cent.
BANKING & FINANCE
RBI cancels licence of Pune-based Shivajirao Bhosale Sahakari Bank
The RBI said it has cancelled the licence of Shivajirao Bhosale Sahakari Bank, Pune as the lender does not have adequate capital and earning prospects.
- As per data submitted by Shivajirao Bhosale Sahakari Bank, more than 98% of the depositors will receive full amount of their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC), the RBI said in a release.
BUSINESS & ECONOMY
OECD Cuts India Growth Forecast To 9.9% For FY22
The Organisation for Economic Co-operation and Development (OECD) cut its growth projection for India for FY22 to 9.9 per cent from 12.6 per cent estimated in March, as the second wave of coronavirus infections has paused economic recovery in Asia’s third largest economy.
- OECD said while India is projected to be the fastest-growing G20 economy in 2021, it will also be the one which is the furthest away from its pre-crisis GDP trend.
- Prospects for the world economy have brightened but the recovery is likely to remain uneven and, crucially, dependent on the effectiveness of public health measures and policy support, according to the OECD’s latest Economic Outlook.
India’s economy to grow at 9.3% in FY22: Moody’s
India’s economy will rebound in the current financial year to mark a growth of 9.3 per cent but the second Covid-19 wave has increased risks to the country’s outlook with potential longer-term credit implications, Moody’s Investors Service said.
- The economy rebounded quickly from a steep contraction in 2020, it said. But risks to India’s credit profile including a persistent slowdown in growth, weak government finances and rising financial sector risks have been exacerbated by the shock of coronavirus second wave.
SBI revises downwards India’s FY22 economic growth forecast to 7.9%
As the second wave of Covid-19 and the resultant restrictions again cripple economic activities, the State Bank of India (SBI) has revised India’s growth outlook downwards for the current financial year.
- The latest SBI Ecowrap report has projected a 7.9 per cent growth for India’s GDP, down from its previous projection of 10.4 per cent growth.
- The SBI Ecowrap noted that the real GDP for FY21 in the provisional estimates has been revised upwards to Rs 135.13 lakh crore from Rs 134.09 lakh crore as per the second advance estimates.
TCS opens its first European innovation centre in Amsterdam
Tata Consultancy Services (TCS) will bring universities, businesses, startups and government together at its latest innovation hub in Amsterdam to help use digital technology to solve sustainability challenges.
- It will focus on sustainability challenges faced by organisations and becomes the first in a network of hubs, known as TCS Pace Ports, in Europe.
- TCS Pace Port Amsterdam is the third co-innovation center by TCS, after New York and Tokyo.
Brazil to host Copa America for 2nd consecutive time
In football, Brazil will host Copa America for the second consecutive time after Colombia and Argentina were stripped of hosting rights for the tournament.
- South American soccer body CONMEBOL announced the decision hours after it ruled out Argentina amid an increase in COVID-19 cases in the country.
- Colombia was removed as co-host as street protests against President Ivn Duque rocked the nation. South American teams are already training for the tournament and two rounds of World Cup qualifiers are starting this week.
Shafali Verma continues to top ICC women’s T20I batting rankings
Teenage India batswoman Shafali Verma continues to top the ICC women’s T20I batting rankings. The 17-year-old player, being touted as the successor to Smriti Mandhana, has 776 points and is leading second-placed Beth Mooney of Australia by 32 points.
- India’s T20 vice-captain, Smriti, is fourth with 693 points. Jemimah Rodriques is the third Indian in the top 10 of the T20I batting rankings with 640 points.
Justice A.K. Mishra appointed NHRC chief
President Ram Nath Kovind formally appointed Justice Arun Kumar Mishra as the chairman of the National Human Rights Commission (NHRC).
- Justice Mishra enrolled as a lawyer in 1978 and was elected the youngest chairperson of Bar Council of India in 1998-99.
- He was appointed judge of Madhya Pradesh High Court in October 1999. He later served as chief Justice of Rajasthan High Court and Calcutta High Court before being elevated to the Supreme Court on July 7, 2014.
The Indian Broadcasting Foundation appoints Former Justice Vikramjit Sen as the Chairman
The Indian Broadcasting Foundation (IBF), which is soon going to be renamed as Indian Broadcasting & Digital Foundation (IBDF), the apex body of broadcasters and OTT operators, has announced the appointment of Justice (Retd.) Vikramjit Sen as the Chairman, along with six other eminent industry members for the newly formed Digital Media Content Regulatory Council (DMCRC).
- The Council constitutes prominent personalities from the Media & Entertainment industry and Online Curated Content Providers (OCCPs), with experience in IPR, programming and content creation.
- The Council includes national award-winning filmmaker Nikkhil Advani; Deepak Dhar, CEO and founder, Banijay Group; prominent artist, filmmaker and writer Ashwiny Iyer Tiwari; and creative writer and innovative director, Tigmanshu Dhulia. The other two members from the OCCPs include Ashok Nambisan, General Counsel, Sony Pictures Pvt. Ltd, and Mihir Rale, Chief Regional Counsel, Star and Disney India.
CII elects Tata Steel CEO and MD T V Narendran as its new president
Industry chamber CII said it has elected T V Narendran, CEO and MD, Tata Steel, as its new president for 2021-22.
- He takes over from Uday Kotak, Managing Director, and Chief Executive Officer, Kotak Mahindra Bank.
- He was the Chairman of CII Eastern Region during 2016-17 and has led CII national panels on leadership and HR besides being Chairman of CII Jharkhand.
CBDT Chairman PC Mody’s tenure ends, JB Mohapatra given additional charge
J B Mohapatra, a 1985-batch Indian Revenue Service officer, was given the additional charge as CBDT chairman after the extended tenure of incumbent P C Mody ended.
- Mohapatra, along with his two Indian Revenue Service (IRS) batchmates, was appointed to the CBDT only a few days back on May 27. His service ends in April next year.
- Before this appointment, he was serving as the principal chief commissioner of Income Tax for the Andhra Pradesh and Telangana region. Mody, whose tenure came to an end, is a 1982-batch IRS officer.
Vice Admiral Ravneet Singh assumes charge as Deputy Chief of Naval Staff
Vice Admiral Ravneet Singh assumed charge as Deputy Chief of Naval Staff. Vice Admiral Singh was commissioned into the Indian Navy on 01st of July 1983 and specialized in Aviation.
- The Admiral has held various challenging Staff, Command and Diplomatic assignments during his distinguished Naval career and has had wide ranging experience onboard diverse platforms.
- He has commanded various frontline ships and Naval Air Squadrons including INS Himgiri, INS Ranvijay, INS Ranvir, INAS 551B, INAS 300 as well as the premier Air Base INS Hansa.
US, Hong Kong climbers set new records for scaling Mount Everest
Climbers from the United States and Hong Kong have set new records as they scaled Mount Everest this week.
- Arthur Muir, 75, became the oldest American to climb the world’s highest peak at 8,848.86-metres (29,031 feet).Muir beat the record set by Bill Burke, who became the oldest American to climb the mountain at the age of 67 in 2009.
- Separately, Hong Kong’s Tsang Yin-Hung, 45, scaled the peak in less than 26 hours, the shortest time taken by any woman after starting from the base camp. She beat the record set by Nepali woman Phunjo Jhangmu Lama in 2017, who climbed Everest in 39 hours and six minutes.
Utah Jazz’s Jordan Clarkson wins 2020-2021 NBA Sixth Man of the Year
Jordan Clarkson, who has been fantastic for the Utah Jazz coming off the bench, was honoured by the League as the NBA Sixth Man of the Year 2021.
- He joins the elite company of some great players like James Harden, Lou Williams who have been honoured with this award before.
- Clarkson, who is having a career year, has been instrumental to Utah’s success this season and his ability to constantly hit the three-pointers with high efficiency, has helped them greatly this season.
SCIENCE & TECHNOLOGY
WHO names Covid-19 variants first found in India ‘Kappa’ and ‘Delta’
The B.1.617.1 and B.1.617.2 variants of Covid-19, first identified in India, have been named as ‘Kappa’ and ‘Delta’ respectively, the World Health Organization (WHO) announced as it named various variants of the novel coronavirus using Greek alphabets.
- The naming of these variants do not aim at replacing the existing scientific names of these #SARSCoV2 Variants of Concern (VOCs) & Interest (VOIs), but is aimed at helping the public discussion about VOI/VOC.
IIT Guwahati researchers design “smart windows” to cut carbon emissions
IIT Guwahati researchers have developed a “Smart Window” material that can effectively control the amount of heat and light passing through it in response to an applied voltage.
- This material can help in developing automatic climate control systems in buildings. Such materials can help develop efficient automatic climate control systems in buildings, the scientists claimed.
- This study was recently published in the journal- ‘Solar Energy Materials & Solar Cells.
World Milk Day
World Milk Day is celebrated every year on 1st June to educate people about the importance of milk in our diet.
- The theme of World Milk Day 2021 will focus on Sustainability in the dairy sector with messages around the environment, nutrition, and socio-economics.