Daily Current Affairs 3rd September, 2021

Daily Current Affairs 3 September 2021 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

I&B Ministry constitutes Committee to review existing guidelines of Journalist Welfare Scheme
Ministry of Information and Broadcasting constituted a Committee to review the existing guidelines of Journalist Welfare Scheme and make appropriate recommendations for changes to the guidelines.

•  The committee will be headed by Prasar Bharati Board Member Ashok Kumar Tandon.The committee will have nine Members from different print and electronics media and an Additional Director General of PIB as members. Director (IP) in the Ministry will be Convener of the committee.
•  It will examine the need for revision of quantum of ex-gratia payment in death as well as other cases under Journalist Welfare Scheme.
• The committee will submit its recommendation within two months. Press Information Bureau will provide secretarial assistance for convening the meeting of committee.

Assam cabinet drops ‘Rajiv Gandhi’ from name of Orang National Park
The Himanta Biswa Sarma government in Assam announced that the Rajiv Gandhi Orang National Park — the oldest game reserve in the state, located on the north bank of the Brahmaputra — will be known as the Orang National Park. 

• The development comes weeks after the Centre dropped former Prime Minister Rajiv Gandhi’s name from the Khel Ratna award.

Gujarat to host 12th Defence Expo-2022 in Gandhinagar
The Gujarat Government will host 12th Defence Expo-2022 in Gandhinagar next year. This was announced by Gujarat Chief Minister Vijay Rupani after meeting with Defence Minister Rajnath Singh at Kevadiya.

• According to official sources, the Memorandum of Understanding has been signed between the Department of Defence Production and Gujarat Government in this regard. About 100 countries are expected to participate in this biannual event.
• Defence Expo-2022 will be held in Gandhinagar from 10th to 13th March next year.

India, UK Agree on $1.2 Billion Investment in Green Projects and Renewable Energy
India and the UK agreed on a USD 1.2 billion investment in green projects and renewable energy to boost India’s green growth ambitions at the 11th India-UK Economic and Financial Dialogue between Finance Minister Nirmala Sitharaman and her British counterpart Rishi Sunak, driving forward the bilateral agenda of an Enhanced Trade Partnership.

• This includes a USD 1 billion investment from CDC, the UK’s development finance institution in green projects in India, joint investments by both governments to support companies working on innovative green tech solutions, and a new USD 200 million private and multilateral investment into the joint Green Growth Equity Fund which invests in Indian renewable energy.
• A new Climate Finance Leadership Initiative (CFLI) India partnership has also been agreed to mobilise private capital into sustainable infrastructure in India, including clean energy like wind and solar power and other green technologies.

INTERNATIONAL NEWS

WHO, Germany open Hub for Pandemic and Epidemic Intelligence in Berlin
The World Health Organization opened a center in Berlin, where information can be shared to help prepare the world for the next global health crisis.

• The center, known as the Hub for Pandemic and Epidemic Intelligence, will gather data from around the world and share it internationally in a stepped-up effort to allow the health authorities to recognize trends in diseases as they happen, and develop new analytic and modeling tools to use that data in establishing strategies to battle outbreaks.

Sri Lanka declares food emergency as forex crisis worsens
Sri Lankan President Gotabaya Rajapaksa has declared an economic emergency to contain soaring inflation after a steep fall in the value of the country’s currency caused a spike in food prices. 

• The government has appointed a former army general as commissioner of essential services, who will have the power to seize food stocks held by traders and retailers and regulate their prices.
• The military will oversee the action which gives power to officials to ensure that essential items, including rice and sugar, are sold at government-guaranteed prices or prices based on import costs at customs and prevent hiding of stocks.

Indian Army participates in Multilateral Exercise ZAPAD, 2021 in Russia
The Indian Army contingent will participate in a two-week multi-nation military exercise named ‘ZAPAD 2021’ at Nizhny in Russia that is aimed at boosting anti-terror cooperation.

• ZAPAD 2021 is a 13-day exercise and will end on 16 September. Over a dozen nations will take part in the ‘Zapad’ exercise, which will primarily focus on anti-terror operations, officials said.
• China and Pakistan are also expected to take part in the exercise as observers.

BANKING & FINANCE

New Development Bank approves Bangladesh as a new member
The New Development Bank (NDB) established by the BRICS ((Brazil, Russia, India, China and South Africa) countries in 2015 has approved Bangladesh as its new member. 

• The NDB Board of Governors initiated the negotiation to expand its membership in 2020. It has now approved the United Arab Emirates, Uruguay and Bangladesh as its first new member countries.
• After approval of the Board, the country is required to complete its domestic processes and deposit the instrument of accession.

EarlySalary ties up HDB Financial Services Ltd to fuel growth in digital lending
EarlySalary has tied up with HDB Financial Services Ltd (HDBFS), a leading Non-Banking Financial Company (NBFC) to fuel growth in Digital Lending.

• HDBFS-EarlySalary partnership aims to build momentum in the impact categories of Skill upgradation, Education Loans and Health-care finance.
• The association will also facilitate building a large consumer lending book with EarlySalary; which is reaching out to millions of under-served customers across the length and breadth of the country.

Zerodha gets Sebi’s in-principle nod to launch mutual fund business
India’s largest broking firm Zerodha has received in-principle approval to set up an asset management company (AMC) company.

• With this, the discount brokerage joins entities like Samco Securities and Bajaj Finserv to get market regulator Sebi’s nod for a mutual fund (MF).
• Currently, there are 44 players in the industry with Samco Securities being the 45th player.

RBI to set up five-member panel on NUE licences
The Reserve Bank of India (RBI) has set up a five-member committee to review applications and give recommendations on new umbrella entity (NUE) licences. 

• The five-member committee will be chaired by RBI chief general manager P Vasudevan.The New Umbrella Entities will set up their own payment infrastructure to compete with the National Payments Corp. of India (NPCI).
• The five-member committee will be responsible for looking into several aspects of New Umbrella Entities.It will be responsible for various aspects, starting from the macroeconomic impact of the NUEs to security risks.

BUSINESS & ECONOMY

India’s GDP growth surges 20.1% in June quarter on low base
India’s gross domestic product (GDP) surged 20.1% in the April-June quarter of FY22, its best-ever fiscal-quarter numbers, according to the data released by the government’s statistics office. 

• GDP at Constant (2011-12) Prices in Q1 of 2021-22 is estimated at ₹ 32.38 lakh crore, as against ₹ 26.95 lakh crore in Q1 of 2020-21, showing a growth of 20.1 percent as compared to a contraction of 24.4 percent in Q1 2020-21,” the data from MoSPI stated.
• This is the fastest growth since the mid-1990s when official quarterly data was available, and up sharply from 1.6% in the previous quarter and from a record contraction of 24.4% in the same quarter a year earlier. The growth in the current quarter is mainly on low-base effect.

APPOINTMENTS

Govt appoints JB Mohapatra as CBDT Chairman
IRS officer JB Mohapatra was appointed as the chairman of the Central Board of Direct Taxes. 

• His appointment was approved by the Appointments Committee of the Cabinet (ACC). He has already served as the acting chairman of the CBDT.
• A 1985-batch IRS officer, Mohapatra was given the additional charge as CBDT chairman after the tenure of incumbent PC Mody ended this year in May.

AWARDS

FSSAI grants five star Eat Right Station certification to Chandigarh Railway Station for providing high-quality, nutritious food to passengers
Chandigarh Railway Station has been awarded a five star Eat Right Station certification for providing high-quality and nutritious food to passengers.

• This certification is granted by FSSAI to railway stations that set benchmarks in providing safe and wholesome food to passengers.
•  It is part of the Eat Right India movement of FSSAI to transform the country’s food system to ensure safe, healthy and sustainable food for all Indians.

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