Daily Current Affairs 21 October 2021 for Banking/Insurance/SSC and other related exams.
DA for central govt employees hiked 3% from 28 to 31%
Cabinet has approved release of an additional installment of Dearness Allowance, DA to Central Government employees and Dearness Relief to Pensioners.
- Information and Broadcasting Minister Anurag Thakur said, Dearness allowance for central government employees has been hiked three per cent from 28 to 31 per cent.
- He said, the additional installment will be effective from 1st July this year. He said, 47 lakh 14 thousand Central Government employees and 68 lakh 62 thousand pensioners will be benefited.
India ranks 71st on 2021 Global Food Security Index
The Global Food Security Index (GFSI) 2021 ranked India at 71st position out of 113 countries with a score of 57.2 points.
- The overall score of India is 57.2 points on the GFS Index 2021.The GFS Index 2021 is a global report that was released by The Economist Impact and Corteva Agriscience.
- India fared better than Pakistan (75th), Sri Lanka (77th), Nepal (79th), and Bangladesh (84th) however it lagged way behind China (34th).
- Ireland, Australia, the UK, Finland, Switzerland, the Netherlands, Canada, Japan, France and the US shared the top rank. Their overall GFS score were in the range of 77.8 and 80 points on the index.
India, Israel, UAE, U.S. decide to launch quadrilateral economic forum
India, Israel, United Arab Emirates and the United States have decided to launch a new quadrilateral economic forum.
- Quadrilateral builds on ongoing cooperation between U.S., Israel and UAE after the Abraham Accords last year.
- This QUAD grouping had decided to establish an international forum for economic cooperation and discussed possibilities for joint infrastructure projects expanding economic and political cooperation in the Middle East and Asia.
BANKING & FINANCE
Dvara E-Dairy, Jana Small Finance Bank tie-up targets dairy farmers
Agri-fintech firm Dvara E-Dairy Solutions Pvt Ltd has entered into a partnership with Jana Small Finance Bank (Jana SFB) to service small dairy farmers.
- Through the partnership, Dvara E-Dairy aims to empower small and medium dairy farmers with financial and cattle management solutions using digital technologies.
Nabard subsidiary signs trust deed for Credit Guarantee Fund Trust for Farmer Producer Organisations
The National Bank for Agriculture and Rural Development (Nabard) said a ₹ 1,000-crore dedicated fund for providing credit guarantees to 10,000 farmer produce organisations (FPOs) will be housed in “Credit Guarantee Fund Trust for FPOs” (CGFTFPO) under the trusteeship of NABSanrakshan Trustee Private Limited (NTPL).
- The CGFTFPO is only the second such Trust formed in the agriculture and allied sector for providing credit guarantee.
- It is expected that the credit guarantee offered through the Trust will enhance the credit worthiness of FPOs besides facilitating cost effective production and productivity leading to higher net incomes to the farmers who are members of FPOs.
NPCI launches NTS platform for card tokenisation
National Payments Corporation of India (NPCI) announced the launch of NPCI Tokenization system (NTS) to support tokenisation of cards as an alternate to storing card details with merchants.
- The NPCI Tokenization System (NTS) will support the tokenisation of RuPay cards to further enhance the safety of customers and provide a seamless shopping experience to consumers.
- With NTS, acquiring banks, aggregators, merchants and others can get themselves certified with NPCI and can play the role of Token Requestor to help save the token reference number (Token Reference On File or TROF) against all card numbers saved.
BUSINESS & ECONOMY
Reliance Industries tops India Inc in World’s Best Employer rankings 2021 published by Forbes
Reliance Industries Ltd, the country’s largest company by revenues, profits and market value, has topped Indian corporates in the World’s Best Employers rankings 2021 published by Forbes.
- Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer and Intel.
- Other Indian names in the top 100 rankings were ICICI Bank at 65, HDFC Bank at 77 and HCL Technologies at 90, according to the Forbes ranking.State Bank of India (SBI) was placed at 119 and Larsen & Toubro at 127. Infosys was ranked at 588 and Tata Group at 746. Life Insurance Corp (LIC) was placed at 504.
- The global ranking was topped by South Korean giant Samsung Electronics, followed by US giants IBM, Microsoft, Amazon, Apple, Alphabet and Dell Technologies. China’s Huawei was placed as the 8th best employer in the world.
IMF slashes India’s potential GDP forecast by 25 bps to 6%
The International Monetary Fund (IMF) said it has pared down India’s potential growth forecast by 25 basis points to 6% due to the impact of the pandemic which hit investments and labour market badly.
- Potential growth is the rate of growth that an economy can sustain over the medium term without generating excess inflation.
ACQUISITIONS & MERGERS
Ola acquires GeoSpoc to build next-gen location tech for undisclosed sum.
Ride hailing company Ola has bought out Pune-based geospatial service provider GeoSpoc, for an undisclosed sum.
- Post the buy-out, the entire team of GeoSpoc as well as co-founder Dhruva Rajan will join Ola to develop accessible, personalised and convenient technology.
- Enhanced geo-spatial services will also go a long way in improving urban planning including road networks, better public transportation and preempt congestion spots.
Indian Grandmaster Praggnanandhaa wins Julius Baer Challengers Chess Tour
Sixteen-year-old Indian Grandmaster Rameshbabu Praggnanandhaa has won the Julius Baer Challengers Chess Tour finals after defeating Christopher Yoo of the USA.
- Praggnanandhaa defeated the American opponent by 3-0 to claim the victory in the final. The Indian Grandmaster has also secured a regular spot at next year’s Meltwater Champions Chess Tour.
James Pattinson retires from international cricket
Australia fast bowler James Pattinson has announced his retirement from international cricket ahead of the upcoming Ashes series against England, Cricket Australia said.
- The paceman, who has battled injuries throughout his decade-long career, took 81 wickets at an average of 26.33 from 21 Test matches. He also played 15 one-day and four Twenty20 international matches for the national team.
Imtiaz Ali appointed as ambassador of Russian Film Festival in India
Director-producer Imtiaz Ali has been roped in as the ambassador of the Russian Film Festival in India.
- As part of the festival, ten notable Russian films of various genres will be premiered for Indian audiences on Disney+ Hotstar from October 16 to November 27.
AMFI Appoints Balasubramanian As Chairman, Radhika Gupta Becomes New Vice Chairperson
Aditya Birla Sun Life AMC’s managing director and chief executive- A Balasubramanian has been appointed as chairman of mutual fund industry body Amfi, industry insiders said .
- Besides, Radhika Gupta, managing director and chief executive officer of Edelweiss AMC, was elected as the vice-chairperson of Amfi.
- Balasubramanian has earlier served as the AMFI Chairman for the period 2017 – 2019 and now would continue to hold the office till the conclusion of the next AGM. He will also hold the office of ex-officio Chairman of AMFI Financial Literacy Committee, being the Chairman of AMFI.
Barbados elects first ever president ahead of becoming republic
Barbados has elected its first ever president as it prepares to become a republic, removing Queen Elizabeth as head of state.
- Dame Sandra Mason, 72, is set to be sworn in on 30 November, which will mark the country’s 55th anniversary of independence from Britain.
- The first woman to serve on the Barbados Court of Appeals, Dame Sandra has been governor-general since 2018.
World-renowned Kung Fu nuns win UNESCO prize for Martial Arts education
The world-renowned Kung Fu Nuns of the Drukpa order of Buddhism have won the prestigious Martial Arts Education Prize 2021 from the UNESCO International Centre for Martial Arts for their brave acts of service.
- The prize recognizes the Kung Fu Nuns’ heroic acts of service and championing gender equality across the Himalayas.
- This award from UNESCO ICM also recognizes the Kung Fu Nuns’ work in Indian and Nepali communities hit especially hard by the pandemic, leaving many marginalized groups in need of supplies and education.
SCIENCE & TECHNOLOGY
South Korea launches its first homegrown space rocket
South Korea has launched its first homegrown rocket, stepping up the country’s ambitions in space. The Korean Satellite Launch Vehicle II, known as Nuri, took off from Goheung, about 500km south of Seoul.
- Nuri cost South Korea an estimated 2 trillion won $1.6 billion to develop. Weighing 200 tonnes and measuring 47.2 metres long, it is fitted with six liquid-fuelled engines.
- South Korea plans to carry out four more launches of the Nuri until 2027 to increase reliability, according to the Korea Aerospace Research Institute (KARI) that is overseeing the launch.
First black US Secretary of State Colin Powell passes away
Colin Powell, the first Black U.S. secretary of state, a top military officer and a national security adviser, died at age 84 due to complications from COVID-19.
- He was the first black US Secretary of State. He served in this post under Republican president George W Bush from 2001 to 2005.
- Earlier, General Colin Powell had also served as the Chairman of the Joint Chiefs of Staff in the US.
Sri Lanka’s first Test captain Bandula Warnapura passes away
Sri Lanka’s first-ever Test cricket captain Bandula Warnapura died at the age of 68 at a city hospital.
- A sentimental hero of Sri Lankan cricket, Warnapura represented his country in four Tests and 12 ODIs between 1975 to 1982.
- Later, he served as the national team’s coach as well as an administrator at Sri Lanka Cricket.
BOOKS & AUTHORS
Divya Dutta comes out with her second book titled ‘Stars In My Sky’
National Award-winning actress Divya Dutta will soon be releasing her second book “The Stars in My Sky: Those Who Brightened My Film Journey”, on October 25. The book, will be published by Penguin Random House India (PRHI).
- The book includes some of her movie insights that she did, the time she spent on the sets, learnings from her craft and colleagues.
Police Commemoration day
National Police Commemoration Day is observed on October 21 every year.
- It is observed to salute the spirits of police forces and their families and brave police martyred who lost their lives fighting for the country.