Daily Current Affairs 25 April 2021 for Banking/Insurance/SSC and other related exams.
PM Modi launches distribution of e-property cards under SWAMITVA scheme
Prime Minister Narendra Modi launched the distribution of e-property cards under the SWAMITVA scheme through video conferencing.
- During the National Panchayati Raj Day address, 4.09 lakh property owners were given their e-property cards, which marks the rolling out of the SVAMITVA scheme for implementation across the country. Union Minister Narendra Singh Tomar also attended the event.
Indian and French Navies start 3-day VARUNA-2021 in Arabian Sea
The 19th edition of the Indian and French Navy bilateral exercise VARUNA-2021 is scheduled to be conducted in the Arabian Sea begin .
- The three-day exercise will see high tempo-naval operations at sea, including advanced air defence and anti-submarine exercises.
- The Varuna exercise will showcase the increasing levels of synergy, coordination and interoperability between the two navies.
BANKING & FINANCE
HSBC India partners with Google Pay for tokenisation on its credit card portfolio
HSBC India announced that it has collaborated with Google Pay (GPay) and VISA to enable secured tokenisation on its credit cards.
- This new feature will enable HSBC Credit Card customers to link their card to GPay and use it as a payment option to securely and digitally transact using their mobile phones – online and at merchant stores.
- The move is in line with the bank’s ongoing endeavour towards enhanced security and convenience for its card holders.
Govt extends deadline for making payment under Vivad Se Vishwas scheme till June 30
Government has extended certain timelines in order to give respite to taxpayers in difficult COVID times. It has extended deadline for making payment under tax dispute resolution scheme Vivad Se Vishwas by two months till 30th of June.
- Time limit for passing of any order for assessment or reassessment under the Income Tax Act has been extended till 30th June.
RBI allows commercial banks to pay up to 50% of pre-Covid dividends
The Reserve Bank of India (RBI) relaxed the dividend payout norms of commercial banks and allowed them to pay up to 50 per cent of what they paid before Covid from the profits for the fiscal ended March 31, 2021.
- For FY20, the RBI had asked banks not to make any dividend payment on equity shares from the profits in view of the ongoing stress and heightened uncertainty on account of Covid-19.
Insurance industry reports a tepid 5% growth in FY21
Healthcare and fire protection helped the Indian general insurance industry report a tepid 5% growth for the last fiscal even as the dominant motor and crop insurance segment shrank due to lockdowns.
- Standalone health insurers like Star Health, Aditya Birla Health Insurance, Max Bupa reported robust growth in their gross direct premium income (GDPI) in FY21.
- As of April 20, Indian insurers have settled claims amounting to $1.2 billion against $2bn claims received as of March last year.
RBI extends temporary advances limit of Rs 51,560 cr for states, UTs till Sep
The RBI said the existing interim Ways and Means Advances (WMA) limit of Rs 51,560 crore for all states and Union Territories will continue up to September 30, 2021, as the effect of the COVID-19 pandemic is still prevalent.
- WMAs are temporary advances given by the RBI to the government to tide over any mismatch in receipts and payments.
BUSINESS & ECONOMY
India FY22 GDP growth revised down to 10.4% from 11%: SBI Research report
The State Bank of India (SBI) Research has revised India’s FY22 growth to 10.4% from 11% projected earlier in view of the increasing COVID-19 related curbs across states.
- Stepping up coronavirus vaccination efforts instead of lockdowns would be the preferred alternative to impede the soaring second wave of the COVID-19 pandemic in India, SBI Research said in a report.
Ind Ra revises down India’s FY22 GDP growth forecast to 10.1%
India Ratings and Research (Ind-Ra) has revised India’s real GDP growth forecast downwards for 2021-22 to 10.1 per cent from 10.4 per cent, citing the second wave of Covid-19 infections and slower pace of vaccination.
- At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May.
SC Judge Justice Mohan M Shantanagoudar passes away
Sitting Supreme Court judge Justice Mohan M Shantanagoudar passed away at a private hospital in Gurugram at the age of 62.
- Justice Shantanagoudar was elevated as a judge of the Supreme Court on February 17, 2017.He became the chief justice of the Kerala High Court on September 22, 2016, before being elevated as an apex court judge.
World Day For Laboratory Animals
World Day For Animals In Laboratories is observed every year on 24 April. The “World Week for Animals In Laboratories” (Lab Animal Week) is celebrated from April 20 to 26.
- WDAIL aims to end the suffering of animals in laboratories around the world and promote their replacement with advanced scientific non-animal techniques.