Daily Current Affairs 27th February, 2021

Daily Current Affairs 27 February 2021 for Banking/Insurance/SSC and other related exams.


Piyush Goyal addresses the 6th International Conference on Pharmaceutical & Medical Devices
The 6th edition of International Conference on Pharmaceutical & Medical Device sector was inaugurated by Union Minister of Railways, Commerce & Industry, and Consumer Affairs and Food & Public Distribution Shri Piyush Goyal

  • The conference which includes INDIA PHARMA 2021 & INDIA MEDICAL DEVICE 2021 is organised every year by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India, along with the Federation of Indian Chambers of Commerce & Industry (FICCI).
  • The theme of India Pharma 2021 is : ‘Indian Pharma Industry: “Future is Now”.The theme of India Medical Device 2021 is “India MedTech Future: Innovate & Make in India through Global Alliance”.
  • The Objectives of the conference is to encourage and bring forward best technology solutions and manufacturing, for the overall growth of Pharma & Medical Device sector.

Jal Shakti Minister Gajendra Singh Shekhawat inaugurates International Commission on Large Dams (ICOLD) Symposium
Union Minister of Jal Shakti, Gajendra Singh Shekhawat has inaugurated the International Commission on Large Dams (ICOLD) Symposium in New Delhi. 

  • The theme of the symposium is “Sustainable Development of Dams & River Basins”. More than 300 delegates from across the country and abroad will participate in the Symposium.
  • The symposium has been organised by the International Commission on Large Dams (ICOLD) in Hybrid format, in collaboration with Central Water Commission (CWC), Dam Rehabilitation Improvement Project (DRIP) and National Hydrology Project (NHP).

Ministry of Corporate Affairs, CBIC sign MoU for exchange of data to enhance Ease of Doing Business in India
Ministry of Corporate Affairs and Central Board of Indirect Taxes and Customs have signed an MoU for exchange of data for enhancing ease of doing business in India and improve overall regulatory enforcement. 

  • Both the organisations will benefit from access to each other’s databases which include details of, AZimport-export transactions and consolidated financial statements of companies registered in the country. 


India, Australia, and France hold trilateral dialogue with Indo-Pacific in focus
With a focus on better coordination on Indo-Pacific, a trilateral meet was held among India, France, and Australia at the senior officials’ level. 

  • The three sides had held the first Foreign Secretary-level Trilateral Dialogue in September of 2020. All three countries are key supports of the Indo-Pacific vision.The Indian side was led by Joint Secretary (Europe West) in MEA, Sandeep Chakravorty. 
  • Other key focus areas were greater maritime domain awareness of Indo Pacific countries, Humanitarian Assistance and Disaster Relief (HADR) operations, oil spill management, and disaster resilience of small island states

China celebrates traditional ‘Lantern Festival’
China is celebrating its traditional Lantern festival. Celebrated on the 15th day of the first Chinese lunar month, the Lantern Festival traditionally marks the end of the Chinese New Year also known as ‘Spring Festival’ period.

  • In 2021, China ushered into Lunar New Year – the ‘Year of the Ox’ on 12th February.
  • The Lantern Festival is also the first full moon night in the Chinese calendar, marking the return of spring and symbolizing the reunion of family. 


Current Inflation Target Band Appropriate for Next 5 Years: RBI Report
With the next review of the flexible inflation target (FIT) framework coming up soon, the Reserve Bank of India (RBI) said the current inflation target of 4 per cent with a +/-2 per cent tolerance band is appropriate for the next five years. 

  • The country adopted the FIT framework in 2016, and the next review of the inflation target is due before March 31, 2021.
  • The RBI said the period of study in this report is from October 2016 to March 2020 commencing with the formal operationalisation of the FIT framework in the country but excluding the period of the COVID-19 pandemic in view of data distortions.

RBI permits residents to make remittances to IFSCs under LRS
The Reserve Bank permitted resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to International Financial Services Centres (IFSCs) in the country.

  • The decision of the RBI is aimed at deepening the financial markets in the IFSCs and providing an opportunity to resident individuals to diversify their portfolios.
  • RBI said it has reviewed the extant guidelines on LRS and decided to permit resident individuals to make remittances under LRS to IFSCs set up in India under the Special Economic Zone Act, 2005.


RBI Governor projects growth rate of 10.5 % for next financial year
RBI Governor Shaktikanta Das has reiterated that the central bank has projected the country’s growth forecast of 10.5 per cent for the next year.

  • He said, the liquidity will continue to be sufficient and the central bank will make available liquidity at the appropriate times. He added that the Apex bank will see that the borrowing programme goes through in a very orderly manner. 

India’s economy grows at 0.4% in Q3FY21, 8% contraction projected for 2020-21
India’s GDP grew at 0.4% in Q3 of FY21 between October-December 2020, the National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MOSPI) announced. 

  • GDP had expanded by 3.3% in the corresponding period of 2019-20, according to the NSO. 
  • For FY21, NSO projected that the economy would contract by 8%, as opposed to a growth of 4% in the preceding year. With this, India exits the technical recession it entered after the economy declined in the July-September 2020, which was the second contraction in a row. 

IRCTC Partners With E-Ticketing Platform Abhibus to Offer Bus Ticket Booking Facility
Online e-ticketing platform AbhiBus announced its partnership with Indian Railway Catering and Tourism Corporation (IRCTC) to provide bus ticket facility to the latter’s customers. 

  • The move will enable IRCTC get the bus inventory across 1,00,000 bus routes and its customers the option to book AC/ non-AC tickets/ buses as per their requirement. 
  • With this collaboration, IRCTC plans to ease travel booking for its customers wherein if they find train tickets in waiting list, they can quickly refer to bus availability without hopping from one platform to another, giving the travellers a hassle-free booking experience. 

Foxconn of toy world to set up India’s first toy cluster in Karnataka
It is Foxconn of the toy world, manufacturing some of the most popular superhero figures and toy dart guns at a factory in Karnataka for some of the biggest names in the global toy industry. And it is now setting up India’s first toy manufacturing cluster to boost domestic industry.

  • Aequs Private Limited is developing a 400-acre toy manufacturing cluster at Koppal in Karnataka at an investment of USD 500 million
  • India imports USD 1.2 billion worth of toys annually, mostly from China and the toy cluster being developed is to raise domestic manufacturing.


Ankita Raina claims her second WTA doubles title
Ankita Raina, partnering Russia’s Kamilla Rakhimova, captured her maiden WTA 250 doubles title, beating Anna Blinkova and Anastasia Potapova of Russia 2-6, 6-4, [10-7] in the final of the Phillip Island Trophy tennis tournament.

  • The win is the biggest of Ankita’s career, making her India’s first WTA champion since Sania Mirza.

Upul Tharanga announces retirement from international cricket
Veteran Sri Lanka opener Upul Tharanga announced his retirement from international cricket after a career spanning 15 years and during which he also enjoyed a brief stint as captain.

  • Tharanga, 36, who was at the helm from July to November in 2017, last represented the national team during its tour of South Africa in 2019.
  • Tharanga played 31 Tests for Sri Lanka, scoring 1754 runs at an average of 21.89, including three centuries and eight fifties.

Cricketer Yusuf Pathan announces retirement from all formats of game
India’s dashing batter Yusuf Pathan has announced his retirement from all formats of the game.

  • He played 57 ODIs and 22 T20Is for India between 2007 and 2012.
  • He was part of the 2007 T20 World Cup as well as the 2011 ODI World Cup, both of which were won by the Indian team.


OLX Autos appoints Gautam Thakar as global CEO
Prosus-owned OLX Group has appointed former Star Sports president and chief executive Gautam Thakar as the global CEO of its pre-owned car marketplace OLX Autos, to manage the company’s offline and online presence across Asia, Africa, Latin America and the United States.

  • Thakar, who will take up the role starting March 15, will manage the global operations of OLX Autos based out of India, one among the fastest-growing large used car markets in the world, and will lead a workforce of over 4,000 employees across various geographies.

Indian economist Ligia Noronha appointed as Assistant Secretary-General of UN
United Nations Secretary-General António Guterres has  announced the appointment of Ligia Noronha of India as Assistant Secretary-General and Head of the New York Office of the United Nations Environment Programme.

  • Ms. Noronha is an economist with over 30 years of international experience in the field of sustainable development. 
  • She has worked since 2014 as Director of UNEP’s Economy Division based in Nairobi, leading UNEP’s work on climate mitigation and energy transitions on inclusive green economies, sustainable consumption and production as well as on trade and sustainable finance.


PM Modi to Receive CERAWeek Global Energy and Environment Leadership Award
Prime Minister Narendra Modi will receive the CERAWeek global energy and environment leadership award during an annual international energy conference in recognition of his commitment to sustainability in the energy and the environment. 

  • CERAWeek by IHS Markit–the world’s preeminent energy conference–will be held virtually March 1-5. 2021 marks the 39th edition of the conference and is the first time that it will be an all-virtual event.
  • Prime Minister Modi will participate in a special plenary with Daniel Yergin, vice chairman of IHS Markit and conference chair on March 5.


Himachal Pradesh CM Jai Ram Thakur launches ‘e-Parivahan Vyavstha’
Himachal Pradesh Chief Minister Jai Ram Thakur launched ‘e-Parivahan Vyavstha’ of the State Transport Department

  • The ‘e-Parivahan Vyavstha’ to provide faceless services to the people of the State regarding Driving Licence/Registration Certificates/Permits etc. 

Indian-American scientist Swati Mohan leads NASA’s Mars 2020 mission
As the world witnessed the historic landing of NASA’s Perseverance rover on the Martian surface, it was Indian-American scientist, Swati Mohan, who led the guidance, navigation, and control operations of the Mars 2020 mission.

  • Besides that she was the lead systems engineer throughout the development. She is the key communicator between the GN&C subsystem and the rest of the project’s teams.
  • She has worked on multiple missions such as Mission to Saturn, Cassini and GRAIL, a pair of formation flown spacecraft to the Moon. She has worked on Mars-2020 since almost the beginning of the project in 2013 and is currently working at NASA’s Jet Propulsion Laboratory in Pasadena.


Malayalam poet Vishnunarayanan Namboothiri passes away
Well-known poet Vishnunarayanan Namboothiri died. He was 81.

  • Namboothiri,one of the widely acclaimed poets of contemporary Malayalam literature, was awarded the Padma Shri in 2014.He is also a recipient of several literary honours, including the Kerala Sahitya Akademi award.
  • His works are known for their blend oftradition and modernity. Some of his noted works are are ‘Swaathandhryathe- Kurich Oru Geetham’, ‘Bhoomigeethangal’, ‘India Enna Vikaram’, ‘Aparaajitha’, ‘Aranyakam’, ‘Pranayageethangal’ and ‘Ujjayiniyile Rappakalukal’, among others. 

Papua New Guinea’s first PM Michael Somare passes away 
Michael Somare, a pivotal figure in Papua New Guinea’s independence and the South Pacific island nation’s first Prime Minister, has died. He was 84.

  • Mr. Somare was Papua New Guinea’s longest-serving leader after it became independent of Australia in 1975. He was Prime Minister for 17 years during four separate periods.


Renowned author, Karan Puri launches his second book “#Me Too”
Bestselling Indian author, columnist and influencer Karan Puri launches his second book #Me Too. 

  • The book illuminates the resilience of human beings who have lived through the trauma of sexual violence and inspires all of us to become more evolved and compassionate in our intimate connections.  

“The Last Light of Glory Days: Stories from Nagaland” book released
A book titled “The last light of glory days: Stories from Nagaland” written by Avinuo Kire and published by a Delhi-based publishing house ‘Speaking Tiger Books’ was released by the principal of Kohima College Dr. Ralimongla in Kohima. 

  • The Last Light of Glory Days is a collection of ten short stories, divided in two part. 
  • The book will appeal to those interested in the cultural-politics and contemporary fiction of Nagaland. 


World NGO Day
World NGO Day is marked on February 27 across the globe.

  • The day celebrates the efforts of those social workers who have gone an extra mile to make the world a better place.
  • The Day was officially recognised and declared by the 12 member countries (Belarus, Denmark, Estonia, Finland, Germany, Iceland, Latvia, Lithuania, Poland, Russia, Norway and Sweden). It was marked for the first time by the UN, EU leaders and international organisations in 2014.

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