Daily Current Affairs 20 July 2021 for Banking/Insurance/SSC and other related exams.
India emerges as 5th largest foreign exchange reserves holder in World
India has emerged as the fifth largest foreign exchange reserves holder in the world after China, Japan, Switzerland and Russia. The country’s forex reserves stood at around 609 billion Dollars on 25th June 2021.
Govt announced stimulus package of Rs 6,28,993 crore on June 28: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman informed the Lok Sabha that the government has, on 28th of June, announced a stimulus package of six lakh twenty eight thousand nine hundred ninety three crore rupees. She said, the package aims to boost diverse sectors of economy affected by COVID-19 pandemic.
- The Minister also informed that the government has decided to provide guarantee to the Scheduled Commercial Banks for loans to new or existing Non- Banking Financial Companies (NBFC) and Micro Finance Institutions for on lending of upto 1.25 lakh to approximately 25 lakh small borrowers. She also said, Atmanirbhar Bharat Rozgar Yojana has been extended till 31st of March next year.
Timeline for Aadhar linking with ration card extended upto Sept 30: Govt
The Union Government said that the timeline given to all States and Union Territories for linking the Aadhaar numbers of beneficiaries with their ration cards has been extended up to 30th of September this year.
Prasar Bharati, IIT-K to collaborate on NextGen Broadcasting Technology Center of Excellence
Prasar Bharati and IIT Kanpur will collaborate on NextGen Broadcasting Technology Center of Excellence to spur Aatmanirbhar Bharat in Media and Broadcasting. As a follow up to the Memorandum of Understanding, a Center of Excellence for Media and Broadcasting Technologies will be established at IIT Kanpur.
- Prasar Bharati and IIT Kanpur will explore the development of direct to mobile broadcasting capabilities with an aim to align emerging technologies with the global standards for 5G.
Gujarat: First-ever elections of Balika Panchayat successfully held at Kunariya village
The Kunariya village of Kutch district in Gujarat has come out with a unique idea of holding Balika Panchayat. Young females aged between 10 to 21 years contested elections for this unique Panchayat which will take up issues pertaining to adolescent girls and women in the village.
- Inspired by the TV series, Balika Vadhu, the Kunariya village in Kutch district today held elections for the unique Balika Panchayat, which aims to develop leadership qualities in the girls for Future Panchayat polls. This Panchayat will be run by the girls and for the girls.
Indian Navy undertakes Maritime Exercises with French Navy
Indian warship INS Tabar was part of a two-day exercise with French frigate FNS Aquitaine and four Rafale fighter aircraft of the French Navy in the Bay of Biscay. A wide range of operations including anti-submarine and air defence drills, replenishment at sea and firing were exercised by the ships.
- India and France have been exploring ways to strengthen cooperation in the Indo-Pacific, including under a trilateral mechanism with Australia to address emerging challenges in the maritime and space domains.
Saudi Arabia ends male guardian requirement for women attending hajj
Saudi Arabia has announced that women can now register for the annual Haj pilgrimage without a male guardian (mahram). The development comes days after it was announced that Saudi women can now live on their own without requiring the consent of their father or male guardian after a new legal amendment by the Kingdom.
BANKING & FINANCE
FDI limit in NPS fund managers hiked to 74%
The government hiked the foreign direct investment (FDI) limit in pension fund management to 74% from 49% under the national pension system (NPS), opening doors for experienced foreign partners in this space and facilitating more competition in the fledgling segment.
BUSINESS & ECONOMY
Razorpay acquires Startup TERA Finlabs
Business payments and financial services startup Razorpay has acquired artificial intelligence (AI)-based risk analysis platform TERA Finlabs, marking its third acquisition since inception.
- Bengaluru-based TERA Finlabs provides risk management software, along with customized credit offerings to make lending more affordable for consumers and profitable for lenders.
Switzerland accounts for half of India’s gold imports in FY21
At $16.3 billion, gold from Switzerland accounted for almost half of India’s imports of yellow metal in 2020-21. India’s overall imports of gold during the period stood at $34.6 billion markedly up from $28.2 billion imported the previous year despite the pandemic.
- China remained India’s top trading partner despite New Delhi taking measures to limit trade with the country in the aftermath of Galwan Valley. The United States and the United Arab Emirates (UAE) were the second and third-largest sources of shipments of India in the year.
- Switzerland replaced Saudi Arabia as India’s fourth-largest partner as the latter sank by one notch. India continues to be the world’s largest consumer of gold after China.
ADB lowers India’s economic growth forecast for this fiscal to 10%
The Asian Development Bank has downgraded India’s economic growth forecast for the current financial year to 10 per cent, from 11 per cent projected in April, on account of the adverse impact of the coronavirus pandemic.
- The projection for FY2022 (ending in March 2023), by which time much of India’s population is expected to be vaccinated, is upgraded from 7 per cent to 7.5 per cent as economic activity normalises.
IOA names B K Sinha as Press Attache of India’s Olympic contingent
The Indian Olympic Association has appointed retired IPS officer B K Sinha will perform the dual role of Security as well as Press Attache of the country’s contingent at the Tokyo Games, which begins on July 23.
- Sinha is a former Haryana DGP and also a recipient of the President’s Police Medal.
IAMAI appoints Google India MD Sanjay Gupta as Chairman
Industry body IAMAI said Google India Vice President and Managing Director Sanjay Gupta has been elected as its chairman for the period 2021-23. He succeeds Amazon Senior Vice President and India Country Manager Amit Agarwal.
- Internet and Mobile Association of India (IAMAI) has also named Facebook India Vice President and Managing Director Razorpay Acquires Startup TERA Finlabs , succeeding Yatra.com co-founder and Chief Executive Officer (CEO) Dhruv Shringi.
- Razorpay CEO and co-founder Harshil Mathur has been elected as the Treasurer and succeeds Satyan Gajwani, Vice Chairman of Times Internet Ltd.
Pedro Castillo declared president-elect of Peru
Pedro Castillo has been declared president-elect of Peru, weeks after winning the popular vote in a tightly-contested run-off election.
Vaidehi Dongre from Michigan crowned Miss India USA
Twenty-five-year-old Vaidehi Dongre from Michigan was crowned Miss India USA 2021 while Arshi Lalani from Georgia was declared the first runner up at the beauty pageant.
- She graduated from the University of Michigan, majoring in international studies.
Sudhanshu Mittal’s book on RSS now in Chinese
BJP leader Sudhanshu Mittal’s book on the Rashtriya Swayamsevak Sangh (RSS) has now been translated into Chinese language.
- ‘RSS: Building India Through SEWA’, which talks of RSS’s history, ideology and policies, and their subsequent impact on the nation, was brought out by Har-Anand Publications in 2019. The Chinese translation is by Jack Bo.
International Chess Day
The International Chess Day is celebrated annually on July 20, the day the International Chess Federation was founded, in 1924. The idea to celebrate this day as the international chess day was proposed by UNESCO, and it has been celebrated as such since 1966, after it was established by FIDE.
Science Exploration Day
July 20 holds a special place in the world of space and science as it is commemorated as the Space Exploration Day. Back in 1969 on the same date, Neil Armstrong and Edwin ‘Buzz’ Aldrin became the first humans to land on the Moon’s surface. Neil Armstrong was the first man to set foot on the moon’s surface in 1969 and he had called the event “one giant leap for mankind”.