Daily Current Affairs 5 August 2021 for Banking/Insurance/SSC and other related exams.
DefExpo-2022 scheduled to be held in Gujarat’s Gandhinagar in March
India’s flagship military exhibition, DefExpo, which is the land and naval systems show of the Defence Ministry, is scheduled to be held in Gujarat’s Gandhinagar from March 11-13 next year.
- The DefExpo-2022 show, which is organised by the Ministry of Defence every 2 years, comes at a time when the government has sharpened its focus on promoting self-reliance in the defence manufacturing sector and positioning India as an exporter of military hardware.
Haryana CM Khattar launches ‘Har Hith’ store scheme in Panchkula
Haryana Chief Minister Manohar Lal Khattar launched the first-of-its-kind ‘Har Hith’ store scheme to promote the sale of quality products of daily need at reasonable prices.
- As many as 2,000 stores will be launched in the first phase – 1,500 in rural and 500 in urban areas. The number of stores will later be extended to 5,000 in the first phase.
- As per the scheme franchise policy, people in the age group of 18-35, women, person with special disabilities, young members of families having annual income less than Rs1.80 lakh and those verified under the Mukhyamantri Parviar Uthan Yojana would be given preference.
- The state government will also guarantee a minimum monthly income of Rs15,000 per month through these stores. As per the sale provision made in the Har Hith store scheme, the franchise partner, who sells products worth Rs1.50 lakh will earn a marginal profit of 10 per cent that is Rs15,000.
Cabinet approves MoU between IIST and TU Delft Netherlands for research activities
Union Cabinet has approved the Memorandum of Understanding (MoU) between Indian Institute of Space science and Technology (IIST) and The Delft University of Technology (TU Delft), the Netherlands for carrying out the Academic programmes and Research activities.
- The Parties may exchange students at undergraduate, postgraduate and doctoral level and they will mutually discuss and decide the areas of studies and credits to be pursued under the scheme.
- The signed Agreement will provide impetus to explore newer research activities and application possibilities in the field of Science and Technology.
India’s lightest and Pune’s first metro trainset unveiled in Italy
The lightest trainset and Pune’s first metro was unveiled in Italy. Each train will comprise three coaches.
- The Ministry of Housing and Urban Affairs said that the train will be delivered to India by December this year.
- It is being manufactured by Titagarh Wagons Ltd, a company based out of Titagarh in West Bengal. They conducted a virtual ceremony to showcase their first train manufactured for Pune metro.
- The Rs 11,420 crore Pune Metro Project is being executed jointly by the Maharashtra Metro Rail Corporation Limited and the Government of Maharashtra as 50:50 stakeholders.
US approves sale of Harpoon Joint Common Test Sets to India worth $82 million
The US has approved the sale of Harpoon Joint Common Test Set (JCTS) and related equipment to India for an estimated cost of $82 million, a decision which it said will help strengthen the bilateral strategic ties and improve the security of a major defensive partner in the Indo-Pacific region.
- The Pentagon’s Defense Security Cooperation Agency (DSCA) delivered the required certification notifying the US Congress of this possible sale, according to an official statement.
BANKING & FINANCE
Govt, World Bank Sign $250 Million Loan Pact to Improve Dam Infra
The government said it has inked a USD 250 million (about Rs 1,855 crore) loan pact with the World Bank, and the funds will be used to make the existing dam infrastructure safe in the country.
- The Central Water Commission as well as the government representatives from 10 participating states are also part of the loan agreement.
- The USD 250 million project for the long-term is for dam safety programme and improving the safety and performance of existing dams across various states of India.
- The Second Dam Rehabilitation and Improvement Project (DRIP-2) will strengthen dam safety by building safety guidelines, bring in global experience, and introduce innovative technologies.
SBI General ties up with SahiPay to expand each in rural areas
SBI General Insurance announced a partnership with Manipal Business Solutions, the promoter of SahiPay to increase non-life insurance penetration in the rural market,
- Through this partnership, SBI General will provide a bouquet of non-life insurance solutions to SahiPay customers, the insurer said in a release.
- The tie-up is a right fit to support the company”s endeavour to maximise its reach to rural segments.
RBI Extends Deadline on New Current Account Rules till Oct 31 After Reports of Hassles
The Reserve Bank allowed time to banks till October 31 to implement changes on the current account front, following reports of small businesses being hit with account freezes in the last few days.
- The central bank said the circular is aimed at enforcing credit discipline amongst the borrowers as well as to facilitate better monitoring by the lenders, but made it clear that a graded approach had been prescribed to banks on opening and operating of current accounts and cash credit/overdraft CC/OD facilities.
IMF approves $650B Special Drawing Rights allocation
The International Monetary Fund has approved an allocation of $650 billion in Special Drawing Rights, the largest such disbursement in the history of the institution and one designed to help countries cope with the COVID-19 pandemic.
- The SDRs are allocated based on member countries’ share quotas. This means much of the reserve assets will be going to wealthier nations.
- IMF said about $275 billion will reach the broad category of “emerging markets and developing countries.” But the lowest-income nations will receive the least, with African countries, for example, expected to get just 6.4% of the total allocation.
ADB to finance water supply project in Jharkhand with Rs 831 cr loan
Multilateral funding agency Asian Development Bank (ADB) has okayed an over Rs 831 crore (USD 112 million) loan to finance water supply infrastructure in Jharkhand.
- The project will cover four towns in the state, ADB said in a release.
- The project supports the Jharkhand Vision and Action Plan 2021 to improve the quality of life of its urban residents through better quality urban infrastructure.
BUSINESS & ECONOMY
IFFCO Signs MoU with IIT Delhi for joint research in farm, nano technology areas
In a significant development, the Nano Biotechnology Research Centre (NBRC), the research and development unit of the fertiliser cooperative Indian Farmers Fertiliser Cooperative Limited (IFFCO), in Gujarat, has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT), Delhi for research consultancy, knowledge transfer, and collaborative projects.
- The collaboration emphasises focused joint research by sharing laboratories of IIT Delhi and IFFCO and providing research consultancy.
USA beats Mexico to clinch 2021 CONCACAF Gold Cup
In football, the U.S. Men’s National Team defeated Mexico 1-0 in extra time, to be crowned champion of the 2021 Concacaf Gold Cup. This is the seventh Gold Cup title for the USA.
- The CONCACAF Gold Cup is the biennial international men’s football championship organized by CONCACAF, the football ruling body in North America, Central American, and the Caribbean.
Nepal Cricketer Paras Khadka Retires from International Cricket, Pens an Emotional Note
Former Nepal cricket team captain Paras Khadka announced retirement from international cricket.
- He is the first Nepalese cricketer to hit an ODI ton and T20I ton in the same year.
- In his career, Paras has played 10 ODIs and 33 T20 internationals ever since he made his debut in 2014. The cricketer has represented Nepal in three U-19 World Cups in the year 2004, 2006 and 2008. He ended his international career with 315 ODI runs and 620 T20I runs. Paras has also scalped 14 international wickets.
Kumar Mangalam Birla Steps Down as Non-executive Chairman of Vodafone Idea
Kumar Mangalam Birla has stepped down as non-executive director and non-executive chairman of Vodafone Idea, the company said. Himanshu
- Kapania, a nominee of the Aditya Birla Group, has been appointed as the non-executive chairman, Vodafone Idea Ltd (VIL) said.
Bvlgari appoints Priyanka Chopra as its global brand ambassador
Italian luxury brand Bvlgari said it has appointed actor Priyanka Chopra Jonas as global brand ambassador.
- In her new role, the company said Chopra Jonas will support the Roman high jewellery house in amplifying the brand around the world, with a particular focus on themes of women empowerment, diversity and inclusion.
Jagdish Bhagwati, C Rangarajan conferred with inaugural Prof CR Rao Centenary Gold Medal
The Indian Econometric Society (TIES) Trust has conferred the inaugural Prof CR Rao Centenary Gold Medal (CGM) to two distinguished Indian scholars — Dr Jagdish Bhagwati and Dr C Rangarajan.
- Dr Bhagwati is a professor of economics, law and international relations at Columbia University and Director of the Raj Centre on Indian Economic Policies.
- Dr Rangarajan is the former chairman, Economic Advisory Council of the Prime Minister and former governor, Reserve Bank of India (RBI).
Seven Indian Companies feature on Fortune 2021 Global 500 List
Seven Indian companies have found a place in 2021 Fortune’s Global 500 list. Mukesh Ambani-led Reliance Industries Ltd is the highest-ranked Indian company on the list in terms of revenue, with revenues of nearly $63 billion. It is placed at 155th spot globally.
- Globally, Walmart has topped the list in terms of revenue for the eighth consecutive year and the 16th time since 1995. Second and third position secured by State Grid (China) and Amazon.com (US)
- China has dominated this years list for the highest number of companies featuring in the list at 143, including those from Taiwan. This is followed by the U.S. with 122, and Japan with a total of 53, respectively.
Indian Companies in the list:
- Reliance Industries (155)
- State Bank of India (205)
- Indian Oil (212)
- Oil & Natural Gas (243)
- Rajesh Exports (348)
- Tata Motors (357)
- Bharat Petroleum (394)
SCIENCE & TECHNOLOGY
Ordnance factory in Tamil Nadu launches high-tech carbine ‘TriCa’
A high-tech, low sound carbine named ‘TriCa’ with a range more effective than a typical sub-machine gun and small enough to be packed in the jacket of security personnel was unveiled at the Ordnance Factory in Tiruchirappalli, Tamil Nadu.
- The lighter and compact weapon, the 7.62X39 mm carbine TriCa is designed for the infantry combat vehicle, helicopter crew and security personnel for operations that call for a compact and relatively powerful individual automatic weapon.
- TriCa has a special muzzle booster which helps in hiding the flash and mitigating the sound when fired.
- An advantage is that it can use ammunition and magazines as well as the inter-changeable parts of general assault rifles (TAR and AK-47).
Uttarakhand CM launches India’s first earthquake early warning mobile app developed by IIT-Roorkee
The Uttarakhand government launched an Earthquake Early Warning (EEW) Mobile App — ‘Uttarakhand Bhookamp Alert’ — developed by IIT-Roorkee.
- It is the country’s first application for notifying people about earthquake alerts.
- After launching the mobile app, CM Pushkar Singh Dhami said, “The application will prove useful in saving many lives. People must be made aware of this app through various awareness campaigns.
Sri Lanka: World’s largest star sapphire cluster found in backyard
The world’s largest star sapphire cluster has been found by accident in a backyard in Sri Lanka.
- The stone was found by a group of men who were digging a well in a gem trader’s home in the Ratnapura area.
- The pale-blue stone has an estimated value of up to $100 million in the international market. It weighs around 510 kilograms or 2.5 million carats.
BOOKS & AUTHORS
“A Different Route to Success” eBook by Ramesh Narayan
The eBook titled “A Different Route to Success” written by Ramesh Narayan has been released recently.
- The book, “A Different Route to Success”, gives readers a ringside view of Ramesh Narayan’s professional life, from which he retired at the age of 50.
“My Own Mazagon” Book by Captain Ramesh Babu
The book titled “My Own Mazagon” authored by Captain Ramesh Babu has been released recently.
- The book published by Indus Source Books features the history and story of Mazagon, the island which was merged into a single entity as Bombay.
- The Book rediscovers the forgotten history of Mazagon and resurrects the identity of Maza Gaon, or ‘My own Village’. Captain Ramesh Babu retired from Mumbai after serving the Indian Navy at Mazagon Dock.
Dogri writer Padma Sachdev passes away
Padma Shri awardee Padma Sachdev, who is the first modern woman poet of Dogri language, passed away at a Mumbai hospital. She was 81.
- She authored many books in Dogri and Hindi, and her poetry collections, including Meri Kavita Mere Geet, won her the Sahitya Akademi Award in 1971.
- She received the Padma Shri, the country’s fourth-highest civilian award, in 2001 and was awarded the Kabir Samman for poetry for 2007-08 by the Madhya Pradesh government.