Daily Current Affairs 5 December 2021 for Banking/Insurance/SSC and other related exams.
India reaches 40 per cent target of power from non-fossil fuel
In line with Prime Minister Narendra Modi’s announcement to achieve 500 GW of installed electricity capacity from non-fossil fuel sources by 2030 at COP26 Climate Conference, the government said it has already achieved 40% of the target.
- As per the government, the country’s installed Renewable Energy (RE) capacity today stands at 150.05 GW while its nuclear energy-based installed electricity capacity stands at 6.78 GW.
- Prime Minister Modi at COP26 Climate Conference in Glasgow, pledged India will achieve net-zero carbon emissions by 2070.
India, European Union agree to enhance clean energy and climate partnership till 2023
India and the EU have agreed on a detailed work programme until 2023 to implement the 2016 EU-India Clean Energy and Climate Partnership with a focus on increasing technical cooperation in the area of energy efficiency, renewable energy, cooperation within the International Solar Alliance and green hydrogen.
- As part of this strengthened cooperation, India and the EU will undertake new studies, study visits and joint workshops, exchanging knowledge and best practices on these areas.
- In addition, the Energy Panel agreed to jointly host/organize the India-EU offshore wind business and investment summit in the first half of next year, with an exhibition of European and Indian companies, B2B facilitation and sessions on decreasing the cost of offshore wind and of financing offshore wind.
BANKING & FINANCE
Paytm Money launches Portfolio Management Services marketplace for HNI investors
Digital payments platform Paytm announced that its wholly-owned subsidiary Paytm Money has launched Portfolio Management Services (PMS) Marketplace for HNI (High Networth Individuals) investors.
- The marketplace has been launched in partnership with PMS advisory startup PMS Bazaar. The platform aims to offer a transparent and comprehensive analysis of all PMS schemes for HNI investors.
- PMS is an investment service offered to HNIs with SEBI mandating a minimum investment of ₹50 lakh.
- The PMS marketplace will offer key parameters for PMS schemes such as total assets, inception date, benchmark, and fund manager details for each scheme. It will include a funds listing section that will show the performance of schemes over multiple time horizons and against benchmarks.
ADB approves $500-million loan to improve quality of school education
The Asian Development Bank (ADB) approved a $500 million loan to the Government of India to help improve the quality of the country’s school education and mitigate the impact of the Covid-19) pandemic on students’ learning.
- The loan supports the Integrated Scheme for School Education (Samagra Shiksha) and the new Exemplar School Initiative of the Ministry of Education (MOE) to improve education quality by focussing on inclusive and equitable learning outcomes.
- It will also provide professional development for teachers and principals to enhance their pedagogic skills, subject knowledge, and digital skills.
ADB gets Rs 15 cr-grant from JFPR for urban primary healthcare usage across India
Asian Development Bank (ADB) has received a grant of nearly Rs 15 crore from Japan Fund for Poverty Reduction (JFPR), which will be utilised to enhance urban primary healthcare usage across India.The Japan Fund for Poverty Reduction (JFPR) has approved a USD 2 million (nearly Rs 15 crore) technical assistance (TA) grant to provide key technical support to an ADB-financed programme.
- It aims to strengthen the comprehensive primary health care (CPHC) system in urban areas across India, ADB said.
- The grant is aligned with the ADB-supported USD 300 million (Rs 2,249 crore) CPHC under the Pradhan Mantri Atmanirbhar Swasth Bharat Yojana (PM-ASBY), which is recently renamed to Pradhan Mantri Ayushman Bharat Health Infrastructure Mission (PM-ABHIM).
BUSINESS & ECONOMY
DBS revises India’s FY2023 growth forecast by 100 bps to 7%
DBS has revised India’s FY23 growth forecast upwards to 7 per cent year-on-year (y-o-y) (CY2022 6.5 per cent) from 6 per cent earlier.
- The MNC bank maintained India’s full-year FY22 forecast at 9.5 per cent y-o-y. It noted that with a receding Covid case count, India’s recovery is turning more broad-based.
- The DBS team assessed that into FY23, beyond the thrust from reopening gains, precautionary savings and sectoral normalisation to pre-pandemic levels, capex generation is likely to be the next driver in raising and maintaining growth on a higher plane.
Pradip Shah appointed NARCL Chairman; Sanjay Jain made IDRCL chief
Pradip Shah, the founder of IndAsia Fund Advisors, has been appointed chairman of the National Asset Reconstruction Company (NARCL).
- Shah, an MBA from Harvard and chartered accountant, is credited for establishing India’s first and largest housing finance company, HDFC, and rating firm Crisil.
- While Aditya Birla Asset Reconstruction Company managing director Sanjay Jain will be the chief executive of India Debt Resolution Company (IDRCL), the privately-owned asset management company (AMC) mandated to resolve bad loans acquired by NARCL.
Assam to confer state’s top civilian award to Ratan Tata
The Assam government will confer the state’s highest civilian awards to industrialist Ratan Naval Tata, Olympian Lovlina Borgohain and an array of personalities from diverse fields.
- Assam Chief Minister Dr Himanta Biswa Sarma said that the state government has decided to confer Assam Baibhav, Assam Saurav and Assam Gaurav Awards, 2021 to 19 personalities and the award ceremony will be held on January 24, 2022.
- For this year, Assam Baibhav award will be conferred to Ratan Tata, Assam Saurav award to be conferred to five personalities Prof Kamalendu Deb Krori, Dr Lakshmanan S, Prof Dipak Chand Jain, Lovlina Borgohain and Neel Pawan Baru ah Kotak.
SCIENCE & TECHNOLOGY
I&B Minister Anurag Thakur inaugurates Earth Station of Doordarshan Kendra in Gorakhpur
Information and Broadcasting Minister Anurag Singh Thakur and Uttar Pradesh Chief Minister Yogi Adityanath inaugurated Earth Station of Doordarshan Kendra in Gorakhpur. Three FM stations of All India Radio in Etawah, Lakhimpur Kheri, and Bahraich districts were also inaugurated at this juncture virtually.
- Mr. Thakur said that with the inauguration of Earth Station at Doordarshan Kendra, now the local programmes originating from Gorakhpur will reach all over the country. He also announced that a one-hour programme in Bhojpuri will be telecast from Gorakhpur Doordarshan Kendra with effect from 11th of December.
India to have nine nuclear reactors by 2024
India will have nine nuclear reactors by the year 2024. This Minister of state for personnel, public grievances and pensions Jitendra Singh said this in the Rajya Sabha on behalf of the Centre.
- He also said that a new nuclear project, the first in northern India, will come up 150 kilometres away from Delhi, in Haryana’s Gorakhpur.
- India is counting on its nuclear program to help meet its Paris climate commitments to reduce the emissions intensity of its economy by a third from 2005 levels by 2030.
Jharkhand CM Hemant Soren launches mobile app for budget suggestion
Chief Minister Hemant Soren launched “Hamar Apan Budget” and a mobile application prepared by the state finance Department from the Chief Minister’s residential office in Ranchi.
- Through this portal, the general public of the state will be able to share their valuable suggestions for the 2022-23 budget.
- One can use the link https://finance.jharkhand.gov.in/budgetvichar to register oneself on ‘Hamar Apan Budget Portal’. For that one has to enter the mobile number and e-mail (optional) in the space provided on the home page and click to generate OTP. OTP can be ordered by e-mail or mobile at any time as per convenience. After successful authentication of the OTP, one can record the suggestion by selecting the concerned department/region.
India, Bangladesh to recognise December 6 as ‘Maitri Diwas’
India and Bangladesh will jointly observe Maitri Divas or friendship day on December 6 in Dhaka and New Delhi and 18 countries around the world, including Russia, Saudi Arabia and the US.
- The two countries had decided during Prime Minister Narendra Modi’s visit to Bangladesh in March to commemorate December 6 as Maitri Divas as it was on this day in 1971 that India recognised the new country.