Daily Current Affairs 20 August 2021 for Banking/Insurance/SSC and other related exams.
C’garh govt launches scheme to provide ₹6,000 per year to landless families
Chhattisgarh government launched Rajiv Gandhi Grameen Bhumihin Krishi Majdur Nyay Yojana, under which financial assistance of ₹6,000 per year will be given to the landless families in the state.
- The scheme will be implemented from financial year 2021-22 and a provision of ₹200 crore has been included in the supplementary budget of 2021-22, which was passed in the legislative assembly.
- Other sections of rural population, such as barbers, dhobis (washermen), blacksmiths, and priests will also be covered under the scheme.
Tourism Ministry signs MOU with MakeMyTrip, Ibibo to strengthen hospitality industry
The Ministry of Tourism has signed a Memorandum of Understanding (MoU) with MakeMyTrip (India) Private Limited and Ibibo Group Private Limited in a bid to strengthen the hospitality and tourism industry especially in the times of the pandemic. It has already signed MoUs with Cleartrip and Yatra.com and Ease my Trip.
- The primary objective of this MoU is to provide an extensive visibility to accommodation units, which have self-certified themselves on SAATHI (System for Assessment, Awareness and Training for the Hospitality Industry) on the OTA platform.
- The MoU also outlines both parties to encourage Units to register on NIDHI and thereby on SAATHI and encourage local tourism Industry with appropriate safeguards for curbing spread of COVID-19.
CCEA approves Rs 77.45 crore for revival of north eastern agri-marketing corp
The Cabinet Committee on Economic Affairs (CCEA) approved a Rs 77.45 crore package for the revival of state-run North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC).
- In a statement, the government said out of the total revival package, Rs 17 crore is towards fund-based support and Rs 60.45 crore is non-fund based support.
- The revival package will help NERAMAC to implement various innovative plans like providing better farming facilities, training to farmers in clusters, organic seeds and fertiliser, post-harvesting facilities in order to promote the products of north east farmers in the world market.
India ranks second in global cryptocurrency adoption index
India ranks second in the global cryptocurrency adoption index behind Vietnam, but ahead of countries such as the US, UK, and China, revealed a Global Crypto Adoption Index by blockchain data platform Chainalysis.
- According to the report, global crypto adoption grew by 880 percent between June 2020 and July 2021.India was followed by Pakistan and Ukraine at rank three and four respectively.
- The ranking was based on three metrics including peer-to-peer (P2P) exchange trading volume and value received.
BRICS signs deal on cooperation in remote sensing satellite data sharing
Brazil, Russia, India, China and South Africa (BRICS) signed an agreement for cooperation in remote sensing satellite data sharing, according to Indian Space Research Organisation (ISRO).
- The pact inked enables building a virtual constellation of specified remote sensing satellites of BRICS space agencies and their respective ground stations will receive the data, ISRO said.
- This will contribute in strengthening multilateral cooperation among BRICS space agencies in meeting the challenges faced by mankind, such as global climate change, major disasters and environmental protection.
BANKING & FINANCE
RBI to put in place a “PRISM” to strengthen compliance by lenders
The Reserve Bank of India (RBI) is putting in place a Platform for Regulated Entities for Integrated Supervision and Monitoring (PRISM), a web-based end-to-end workflow automation system, to strengthen compliance by supervised entities (SEs).
- This is aimed at helping supervised entities to strengthen their internal defences and resilience and bringing focus on root cause analysis (RCA).
- PRISM will have various functionalities (inspection; compliance; incident functionality for cyber security; complaints; and returns functionalities), with built-in remediation workflows, time tracking, notifications and alerts, management information system (MIS) reports and dashboards.
RBI to introduce ‘Regulatory GAAR’ for round tripping
Reserve Bank of India (RBI) Has come up with a draft rule amending the existing regulation relating to foreign investment to discourage Round-tripping.
- Some of the biggest Indian companies, startups and multinationals with a presence in India have halted their outbound investment, fundraising and restructuring plans as the RBI looks to introduce new rules around “round-tripping”.
- As per the draft rule, any investment made outside India is an entity, in turn, investment in India will be considered round-tripping if the objective is to avoid tax. This is the same definition and logic used by the tax department: General Anti-Avoidance Rule (GAAR).
NABFID brought under Dept of Financial Services purview
President Ram Nath Kovind approved placing the National Bank for Financing Infrastructure and Development (NABFID) under the purview of the Department of Financial Services (DFS) in the Finance Ministry for administration purposes.
- With this, a new development financial institution will come into existence. It will have both developmental and financial objectives. Among other things, this would include developing a deep and liquid bond market of international standards for long-term infrastructure financing in India, including through widening of the issuer and investor base.
- It will also facilitate the development of markets for interest rate derivatives, credit derivatives, currency derivatives and other such innovative financial instruments as may be necessary for infrastructure financing.
World Bank announces new global fund for cybersecurity
The World Bank launched a new Cybersecurity Multi-Donor Trust Fund under its broader Digital Development Partnership (DDP) umbrella programme.
- The fund aims to better define and systematically roll out the cybersecurity development agenda, helping to ensure a more substantial reflection of cybersecurity considerations across World Bank programmes and financing.
- The work programme will support the development of global knowledge on cybersecurity solutions for low- and middle-income countries, by funding country maturity assessments, offering technical assistance, and supporting training and capacity development for cybersecurity staff in World Bank client countries.
RBI issues new guidelines for locker in banks
The Reserve Bank of India (RBI) directed banks to maintain a branch-wise list of vacant lockers as well as a wait-list for the purpose of allotment of lockers and ensure transparency in allotment of lockers. Revised instructions will come into effect from January 1, 2022, the RBI said.
- The banks, the central bank said, shall acknowledge the receipt of all applications for allotment of locker and provide a wait list number to the customers, if the lockers are not available for allotment.
- According to the new guidelines, the existing customers of a bank who have made an application for locker facility and who are fully compliant with the CDD (Customer Due Diligence) criteria may be given the facilities of safe deposit lockers/ safe custody article subject to on-going compliance.
BUSINESS & ECONOMY
Ind Ra revises GDP growth forecast to 9.4% for FY22
India Ratings and Research (Ind Ra) revised upwards its 2021-22 GDP growth forecast to 9.4% considering the surprisingly faster recovery after the second wave of Covid, higher exports and sufficient rainfall.
- The rating agency had earlier expected the economy to grow by 9.1% in a scenario where vaccinating all adults gets pushed back to March 2022 and 9.6% if the government achieves its target of rendering vaccine doses by December.
Apurva Chandra appointed as Secretary in I&B Ministry
1988 batch Maharshtra Cadre IAS officer Apurva Chandra has been appointed as Secretary in Ministry of Information and Broadcasting.
- The Appointments Committee of the Cabinet approved his appointment. Currently, Mr Chandra is serving as Secretary in Ministry of Labour and Employment.
- Higher Education Secretary Amit Khare was holding the additional charge of the post of Information and Broadcasting secretary for over a year now.
Afghanistan’s first VP Amrullah Saleh declares himself caretaker president
Afghanistan’s First Vice President Amrullah Saleh announced that he is in the country and is the “legitimate caretaker President”.
- Citing the provisions of the Constitution of Afghanistan, Saleh said that the first vice president automatically becomes the caretaker president in the event of the president’s absence, escape or resignation.
PT Usha’s coach OM Nambiar passes away
Renowned athletics coach O.M Nambiar, who nurtured one of India’s greatest track and field stars PT Usha, died due to age-related illness. He was 89.
- One of the first Dronacharya Award winners and this year’s Padma Shri awardee, Nambiar has turned several young talents into international athletes during his tenure as a renowned coach, including the legendary Usha, who missed a bronze medal at the 1984 Los Angeles Olympics by one-hundredth of a second.
- He served the Indian Air Force for 15 years and retired in 1970 as a sergeant. He completed his coaching diplomas from the National Institute of Sports (NIS) in Patiala and started training the Services athletes.
BOOKS & AUTHORS
New book ‘Operation Khukri’ tells untold story of Indian Army’s brave mission in Africa
The untold story of Indian Army’s bravest peacekeeping mission abroad, published by Penguin Random House India (PRHI), is the story of the Indian Army’s successful rescue mission of over 200 India peacekeepers who were sent to Sierra Leone in year 2000 by United Nations to help the government there in tackling Revolutionary United Front (RUF), a rebel group. July 13 marks the 21st anniversary of the operation.
- The book is co-written by Major General Punia and his daughter Damini Punia.
World Mosquito Day
Every year, August 20 is observed as the World Mosquito Day to raise awareness about the illness and disease caused by mosquitos.
- It marks the day when Sir Ronald Ross discovered the link between female mosquito and malaria, which changed the course of medical history.
20 August 2021, marks the 77th birth anniversary of India’s Former Prime Minister Rajiv Gandhi. This day is observed as ‘Sadbhavana Diwas’ or Harmony Day’.
- The day is observed to encourage national integration, peace, affection and communal harmony among the people of all religions. Being the youngest Prime Minister of India, Shri Rajiv Gandhi’s thought process was modern and different from others.