Daily Current Affairs 5 June 2021 for Banking/Insurance/SSC and other related exams.
India Clears ‘Landmark’ Rs 43,000 Crore Project to Build 6 High-tech Submarines
The Defence Ministry cleared a mega project to domestically build six conventional submarines for the Indian Navy at a cost of around Rs 43,000 crore, in a major decision aimed at significantly boosting India’s naval prowess in the face of China rapidly expanding its maritime capabilities.
- The submarines will be built under the much-talked-about strategic partnership model that allows domestic defence manufacturers to join hands with leading foreign defence majors to produce high-end military platforms to reduce import dependence.
- The Defence Ministry also approved proposals relating to capital acquisitions of various military weapons and equipment worth around Rs 6,800 crore.
- The decisions to approve the naval submarine project named ‘P-75 India’ and the procurement of the military weapons and equipment were taken at a meeting of the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh.
Gujarat’s Vishwamitri river project gets National Green Tribunal nod
The National Green Tribunal has directed the authorities to implement the “Vishwamitri River Action Plan” in Vadodra including the steps for removal of unauthorised structures, demarcation and protection of flood plain zone within three months.
- A bench headed by NGT Chairperson Justice Adarsh Kumar Goel noted that Vishwamitri river is one of 351 identified polluted river stretches, identified as such by the Central Pollution Control Board.
- While directing consideration of all the issues by the applicants, we reiterate the direction for implementation of the Vishwamitri River Action Plan including the steps for removal of unauthorised structures, demarcation and protection of flood plain zone and other action points as per the river restoration plan.
Ladakh Lt Governor launches YounTab scheme for students to encourage digital learning
Ladakh Lt Governor RK Mathur has launched the YounTab scheme for students in the Union Territory. He distributed tablets to the students of 9 to 12 class as part of the first phase of the YounTab Scheme. A total of 12 thousand 300 students of 6th to 12th class from government schools will benefit from the scheme.
- YounTab scheme formulated to encourage digital learning, bridge the digital divide between connected and unconnected and mitigate the Covid pandemic disruptions.
IIT Madras hosts Asia’s first International Memory Studies Workshop
Indian Institute of Technology, IIT Madras recently hosted Asia’s first workshop on International Memory Studies virtually.
- This international workshop on Memory Studies, the first of its kind in Asia, precedes the official launch of the Indian Network for Memory Studies (INMS).
- Indian Network for Memory Studies (INMS), the first national network in the field in Asia under the aegis of the International Memory Studies Association, Amsterdam.
China sets up combined air defence system along LAC
China’s People Liberation Army (PLA) has integrated elements of the air force and army to create a combined air defence system for its western theatre command that is responsible for operations along the Line of Actual Control (LAC), the latest in a series of moves indicating a strengthening of its positions in the region.
- For the first time, an integrated army air defence system has been developed by china along the western borders.
- The combined air defence system has been developed for putting all assets of the army and air force under central control.
BANKING & FINANCE
ICICI Bank to offer instant facility for cross-border inward remittances
ICICI Bank has tied up with SWIFT to offer instant facility for cross-border inward remittances as per the press release on 2nd June 2021.
- This facility aids in helping the overseas partner banks to instantly send remittances on behalf of their customers to the Indian beneficiaries.
- This facility makes ICICI Bank the first Bank in Asia-Pacific and second globally to provide the service called ‘SWIFT gpi Instant’
- Amount over Rs. 2 lakh can be sent to help the overseas partner banks and make a reliable and instant cross border remittances
Bharti AXA Life signs bancassurance pact with Shivalik Small Finance Bank
Private life insurer Bharti AXA Life Insurance has entered into a bancassurance partnership with Shivalik Small Finance Bank for the distribution of its life insurance products through the bank’s pan-India network of branches.
- Under this agreement, Bharti AXA Life Insurance will offer its suite of life insurance products, including protection, health, savings and investment plans, to customers of Shivalik Small Finance Bank across its 31 branches and digital network across the country.
Mahindra Rural Housing Finance, IPPB tie up for cash management solution
Mahindra Rural Housing Finance and India Post Payments Bank announced a strategic partnership for cash management solution.
- As part of the tie-up, IPPB will be offering cash management and collection services to MRHFL through its access points and postal service providers.
- With the cash management service, its customers will be able to repay their monthly or quarterly loan instalments at over 1.36 lakh post offices.
BUSINESS & ECONOMY
Wipro becomes third Indian IT firm to scale Rs 3 trillion market cap
Wipro touched Rs 3 trillion in market capitalisation for the first time, becoming the third Indian IT firm to achieve the milestone after Tata Consultancy Services and Infosys.
- Wipro’s stock hit Rs 550 in early trade, rising 1.27 per cent against the previous close of Rs 543.05 on BSE. Its market capitalisation at that stood at Rs 3.01 trillion.
- India has total of 13 listed firms that have crossed the Rs 3 trillion m-cap. Wipro now ranks 14th.
Microsoft launches first-ever APAC cybersecurity council
With the aim of building a strong communications channel for addressing cyber threats and sharing best practices across the participating countries, Microsoft has launched the first Asia Pacific Public Sector Cyber Security Executive Council.
- Consisting of policy makers and influencers from Brunei, Indonesia, Korea, Malaysia, Philippines, Singapore and Thailand, supported by cybersecurity professionals, the council aims to accelerate public-private partnerships in cybersecurity, share threat intelligence.
- The council is set to meet virtually on a quarterly basis to maintain a continuous exchange of information on cyber threats and cybersecurity solutions.
Air Marshal VR Chaudhari appointed Vice Chief
The Indian Air Force will see a number of changes in the top brass, as Air Marshal Vivek Ram Chaudhari has been appointed the next Vice Chief of Air Staff at the Air headquarters.
- Two new commanders-in-chief would also be moving for their new assignments as Director General Air Operations. Air Marshal Ballabha Radha Krishna would be succeeding Chaudhari at the Western Command in Delhi, while Air Marshal RJ Duckworth would be taking charge of the Central Air Command in Prayagraj.
- Chaudhari will replace incumbent Air Marshal HS Arora, who will superannuate on June 30. Chaudhari has presently commanding the Western Air Command, which is also known as the sword arm of the force as it handles the sensitive borders with both Pakistan and China in sensitive areas.
- Chaudhari is taking over as Vice Chief when the IAF has been deployed for over a year in the eastern Ladakh region.
Isaac Herzog elected as President of Israel
Veteran politician Isaac Herzog has been elected Israel’s 11th president in a secret ballot in the Knesset (parliament).
- The 60-year-old former Labor leader will be the first Israeli President who is the son of a former president. His father Chaim Herzog served as Israel’s Head of State between 1983 and 1993.
- Herzog won the support of an overwhelming 87 lawmakers in the 120-member house defeating his rival Miriam Peretz with a comfortable margin.
WhatsApp Appoints Paresh B Lal as Grievance Officer for India
WhatsApp has named Paresh B Lal as its grievance officer for India on its website.
- The move comes in the backdrop of the new IT rules coming into effect last week that require significant social media intermediaries – those with other 50 lakh users – to appoint a grievance officer, nodal officer and a chief compliance officer.
Dr Vinay K Nandicoori appointed as Director of CCMB
Dr Vinay K Nandicoori has been appointed as the new director of the CSIR-Centre for Cellular and Molecular Biology (CCMB), Hyderabad. He is a well-known molecular biologist, and has been a scientist at the DBT-National Institute of Immunology, New Delhi.
- Dr Nandicoori’s research interest extensively spans molecular signalling networks in Mycobacterium tuberculosis, the micro-organism that causes TB. His research has found national and international relevance and recognition.
Amul’s RS Sodhi elected to board of International Dairy Federation
The International Dairy Federation (IDF) unanimously elected R S Sodhi, managing director, Gujarat Cooperative Milk Marketing Federation Ltd or GCMMF that sells Amul branded products in India, to its board during the general assembly held on 1 June.
- He is alumni of the Institute of Rural Management Anand (IRMA). He joined GCMMF (Amul) in the year 1982 after completing his post-graduation from IRMA.
SCIENCE & TECHNOLOGY
Indian Navy’s Hydrographic Survey Ship Sandhayak Decommissioned After 40 Years of Service
Indian Navy’s hydrographic survey ship Sandhayak was decommissioned at the naval dockyard in Visakhapatnam after serving the nation for 40 years.
- The ship, during its commissioned service, undertook approximately 200 major hydrographic surveys and numerous minor surveys in both east and west coasts of the country, the Andaman seas as well as in the neighbouring countries.
- Apart from survey missions, the ship was an active participant in many significant operations such as Operation Pawan (assisting the Indian Peace Keeping Force in Sri Lanka in 1987) and Operation Rainbow (rendering humanitarian assistance post the 2004 Tsunami).
Government launches X-Ray Setu on WhatsApp to detect COVID-19 cases in areas with no RT-PCR tests
Government has launched an artificial intelligence based X-Ray Setu which can be operated through WhatsApp. For this project, the government plans to onboard 10,000 doctors in small towns where RT-PCR and CT Scans are not available for COVID detection.
- This is going to be an important tool for rural doctors who are struggling to source equipment for covid detection. The government has partnered with non-profit organisation Artpark and Niramai for the same.
- “XraySetu is the artificial intelligence-driven Chest Xray interpretation over Whatsapp for doctors. Designed with the close collaboration of AI researchers from ARTPARK, Niramai Health and the Indian Institute of Science over the last 10 months, Xraysetu is quick and simple for busy doctors to use.
Tamil filmmaker GN Rangarajan passes away
Veteran Tamil filmmaker GN Rangarajan passed away in Chennai due to age related ailments. He was 90.
- Rangarajan began his career in the film industry in the 1950s by assisting iconic filmmaker A. Bhimsingh. He later assisted director S. P. Muthurama before venturing on his own in the late 1970s. He made his directorial debut with a supernatural comedy Kalyanaraman (1979), which had Kamal Haasan in the lead role.
- His other famous films include Kalyanaraman, Ellam Inbamayam, Kadal Meengal, Muthu Engal Sothu, Pallavi Meendum Pallavi and Aduthaathu Albert, among others.
Ex-Mauritius President Anerood Jugnauth passes away
SIR Anerood Jugnauth, the former President and Prime Minister of Mauritius, has passed away. He was 91.
- Jugnauth, who served as Mauritius’ President twice and Prime Minister six times, was accorded with India’s second highest civilian honour Padma Vibhushan in 2020.
World Environment Day
World Environment Day is celebrated on June 5, annually to encourage awareness and environmental protection.
- The theme for World Environment Day 2021 is ‘Ecosystem Restoration’ and Pakistan will be the global host for the day.
- This World Environment Day will kick off the UN Decade on Ecosystem Restoration (2021-2030), a global mission to revive billions of hectares, from forests to farmlands, from the top of mountains to the depth of the sea.