Daily Current Affairs 5 October 2021 for Banking/Insurance/SSC and other related exams.
Govt sanctions Rs. 7234 crore to introduce integrated farming in all gram panchayats by 2023: Karnataka Agriculture minister
Karnataka Agriculture minister B C Patil has informed that a sum of Rs. 7234 crore is sanctioned by the Government to introduce integrated farming in all the gram panchayats by 2023.
- Addressing media persons in Bengaluru, the minister said that this will help double the farmers’ income as envisaged by the Prime Minister.
Govt extends Credit Guarantee Scheme for Subordinate Debt upto 31st of March 2022
Government has extended the Credit Guarantee Scheme for Subordinate Debt upto 31st of March next year.
- Ministry of Micro, Small and Medium Enterprises said, the government had announced creation of Distressed Assets Fund – Subordinate Debt for Stressed MSMEs’ on 13th May last year under the Atma Nirbhar Bharat Package.
- In order to keep the avenues of assistance to stressed MSME Units open, the Government had earlier decided to extend this scheme for six months from 31 March this year to 30th September.
Govt to investigate ‘Pandora Papers Leak’ by multi-agency group under CBDT Chairman
Government said that the cases pertaining to Pandora Papers will be investigated and appropriate action will be taken in such cases as per law.
- Finance Ministry said, the investigations in cases of Pandora Papers leaks appearing in the media under the name Pandora papers will be monitored through the Multi Agency Group, headed by J.B. Mohapatra, Chairman, Central Board of Direct Taxes.
- It will be have representatives from CBDT, Enforcement Directorate, Reserve Bank of India and Financial Intelligence Unit.
Union Minister Kiren Rijiju inaugurates Sports Arbitration Centre of India in Gandhinagar
Union Law Minister Kiren Rijiju inaugurated the country’s first “Sports Arbitration Centre of India” in Gujarat which will serve as an independent body to fast track disputes in the sports sector.
- The SACI is promoted by Ahmedabad-based SE TransStadia Pvt Ltd as an independent body to fast track disputes in the sports sector.
- The Ministry of Law and Justice will provide all the legal backing to the SACI which will serve as a mechanism to redress issues related to sports, an idea that was never thought of before in India.
BANKING & FINANCE
Bank credit registers 5.8 % growth compared to last year during first quarter of current financial year
During the first quarter of the current financial year, Bank credit registered 5.8 percent growth compared to last year. Personal loans accelerated to 14.8 percent on a year-on-year basis while bank credit to the industrial sector declined.
- Credit to individuals in the household sectors continued to rise and their share in total loans increased to 43.3 percent from 34.2 percent five years ago. Female borrowers had nearly 22 per cent share in the amount of credit to individuals.
- Bank branches in urban, semi-urban and rural centres maintained double digit credit growth on a year on year basis in June 2021 but credit extended by metropolitan branches just recorded growth of 2.7 per cent.
AIIB approves USD356.67 million loan for expansion of Chennai Metro Rail System
The Asian Infrastructure Investment Bank (AIIB) has approved a USD356.67 million loan to the Government of India to support the expansion of the Chennai metro rail system.
- The project involves the construction of a new corridor in Chennai’s metro network as part of Chennai Metro Rail Phase 2.
- It will span from Lighthouse in the east to Poonamalee Bypass in the west to ensure seamless multimodal transport across Chennai by providing integrated access to suburban rail, bus stations and the city’s main airport.
IndusInd Bank inks gold loan co-lending pact with Indel Money
Indel Money has tied up with IndusInd Bank for a gold loan co-lending partnership to offer gold loans at competitive rates.
- Under the co-lending partnership agreement, Indel Money will originate and process gold loans based on mutually formulated credit parameters and eligibility criteria. The company will service customers through the entire lifecycle of the loans, including sourcing, documentation, collection and loan servicing.
- IndusInd Bank will take into its book 80 per cent of the gold loans generated by the co-lending arrangement, while the remaining 20 per cent will be funded by Indel Money.
Acuite Ratings joins hands with United Nations for ESG in a first
Acuité Ratings & Research became the first local credit rating company to be associated with the Principles for Responsible Investment (PRI), a United Nations-backed initiative that deals with ESG (Environment Social Governance) credit risk.
- It will act as a signatory to PRI’s “ESG in Credit Risk and Ratings Statement”. Fitch, Moody’s, S&P Global, Kroll Bond are among others, which are existing signatories in the gauge.
U GRO Capital and IDBI Bank sign a co-lending agreement
U GRO Capital has signed a co-lending agreement with IDBI Bank, on the occasion of the bank’s 58th Foundation Day.
- The co-lending arrangement will work towards providing formal credit to underserved MSMEs, at affordable rates.
- For the same, it will leverage U GRO Capital’s digital technology platform driven by a Data Tripod, which comprises of GST, Banking & Bureau, in addition to the company’s deep sectoral understanding, and multi-channel distribution reach.
NTPC REL signs first green term loan pact of Rs 500 cr with Bank of India
State-run power giant NTPC said its arm NTPC Renewable Energy Ltd (NTPC REL) has signed the first green term loan agreement of Rs 500 crore with Bank of India.
- NTPC REL has signed its first Green Term Loan agreement of Rs 500 crores at a very competitive rate with a tenor of 15 years with Bank of India for its 470 MW solar project in Rajasthan and 200 MW solar project in Gujarat, a company statement said.
BUSINESS & ECONOMY
Manipur govt, Tata Technologies join hands to transform technical training, encourage innovation
Tata Technologies and the Government of Manipur have signed a Memorandum of Agreement (MoA) to establish first of its kind center for Invention, Innovation, Incubation & Training (CIIIT) on Industrial Experiential Learning & Development at Manipur.
- The center would be spread across approx. 20,000 square feet area and will showcase the latest infrastructure, tools, and technologies around Industry 4.0, Robotics, 3D printing & Electric Vehicle design.
GST collection for September crosses ₹1.17 lakh crore
The gross GST revenue collected in the month of September was 1,17,010 crore rupees, which included CGST component of 20,578 crore, SGST 26,767 crore and IGST component of 60,911 crore rupees.
- The revenue for September was 23 per cent higher than the GST revenues in the same month last year.
- During the month, revenue from import of goods was 30 per cent higher and the revenue from domestic transactions including import of services was 20 per cent higher than the revenue from these sources during the same month last year.
ACQUISITIONS & MERGERS
Paytm Group takes over complete ownership of CreditMate
Digital payments major, Paytm, has now acquired a 100% stake in Urja Money Pvt. Ltd., which provides a loan management system through its proprietary solution, CreditMate.
- Back in 2017, Paytm had acquired an undisclosed stake in CreditMate parent, Urja Money Pvt. Ltd, to create a loan management system in collaboration with lending partners.
Naamya Kapoor clinches gold medal in Women’s 25-metre Air Pistol event of ISSF Junior World Championship
India’s 14-year-old shooter Naamya Kapoor clinched the gold medal in the women’s 25-metre air pistol event of the ISSF Junior World Championship in Lima, Peru.
- The teenager finished on the top step of the podium ahead of celebrated compatriot Manu Bhaker who won the bronze medal. Kapoor shot 36 in the finals to claim the top prize ahead of France’s Camille Jedrzejewski with 33 and 19-year-old Olympian Bhakar with 31, who has already won three gold medals so far in the tournament. Another Indian shooter, Rhythm Sangwan finished fourth in the final.
- India lead standings with seven gold, six silver and three bronze for a total of 16 medals.
FC Goa clinch maiden Durand Cup football trophy beating Mohammedan Sporting 1-0
FC Goa claimed their maiden Durand Cup football title after a 1-0 win over Mohammedan Sporting in the final in Kolkata.
- Captain Eduardo Bedia scored the all important goal in the 105th minute after the final match went into the extra time.
- The Durand Cup crown also marks FC Goa coach Juan Ferrando Fenoll’s first-ever trophy on Indian soil.
B C Patnaik takes charge as managing director of LIC
BC Patnaik has taken charge as Managing Director of Life Insurance Corporation of India.
- Prior to taking charge as Managing Director of LIC, Patnaik was Secretary General, Council for Insurance Ombudsmen, (CIO) Mumbai. He joined LIC of India in March 1986 as a Direct Recruit Officer.
Najla Bouden Romdhane named first female PM of Tunisia
Najla Bouden Romdhane has been named Tunisia’s first female prime minister, two months after President Kais Saied assumed executive authority, sacked the prime minister and suspended parliament.
- Romdhane, 63, was assigned to form a new government amid growing domestic and international discontent about the president’s power seizure.
Colonel Mamady Doumbouya sworn in as interim President of Guinea
Colonel Mamady Doumbouya was sworn in as Interim President of coastal West African country of Guinea.
- Colonel Doumbouya, who led the overthrow of President Alpha Conde on 5th of last month was sworn in by Supreme Court Head Mamadou Sylla for a transition period of unspecified length.
Ethiopian Prime Minister Abiy Ahmed sworn in for second five-year term
Ethiopian Prime Minister Abiy Ahmed sworn in for a second five-year term running a country in the grip of a nearly year-long war.
- His Prosperity Party was declared the winner of Parliamentary Elections earlier this year in a vote criticized and at times boycotted by opposition parties. However, outside electoral observers described the poll as better run than those in the past.
- Mr Abiy, the 2019 Nobel Peace Prize winner for restoring ties with neighboring Eritrea and for pursuing sweeping political reforms, now faces major challenges as war in the Tigray region spreads into other parts of the country.
Mukesh Ambani tops Hurun India Rich List 2021
Reliance Industries head Mukesh Ambani has retained the top spot as the richest Indian once again now his 10th year of enjoying the title, according to the Hurun India Rich List 2021 published.
- Both the Adani brothers have stormed up to the top 10 positions for the first time ever and there are four new faces in the Hurun India top ten rich list, including those of industrialists Lakshmi Mittal and Kumar Mangalam Birla. Perhaps the newest face in this list is Jay Chaudhry, the California-based entrepreneur of the cloud cybersecurity firm Zscaler, who made it to the list for the first time.
Top 5 richest Indians this year
- Mukesh Ambani (Reliance Industries): ₹7,18,000 crore net worth
- Gautam Adani (Adani Group): ₹5,05,900 crore net worth
- Shiv Nadar (HCL): ₹2,36,600 crore net worth
- SP Hinduja (Hinduja Group): ₹2,20,000 crore net worth
- Lakshmi Mittal (Arcelor Mittal): ₹1,74,400 crore net worth
David Julius & Ardem Patapoutian from US share 2021 prize in Medicine or Physiology
Scientists who discovered how our bodies feel the warmth of the sun or the hug of a loved one have won the Nobel Prize in Medicine or Physiology .
- David Julius and Ardem Patapoutian, from the United States, share the 2021 prize in Medicine or Physiology for their work on sensing touch and temperature.
- They unpicked how our bodies convert physical sensations into electrical messages in the nervous system. Their findings could lead to new ways of treating pain.
SCIENCE & TECHNOLOGY
Defence Secretary launched website www.indianrdc.mod.gov.in for Republic Day Celebrations – 2022
Defence Secretary Dr Ajay Kumar launched a website for Republic Day Celebrations – 2022.
- To showcase the Republic Day Celebrations , which will mark the 75th year of Independence-Azadi ka Amrit Mahotsav, Ministry of Defence has created a new website: www.indianrdc.mod.gov.in.
- The website will be a single-point official source for all the content related to Republic Day Celebrations.
BOOKS & OTHERS
“Kathmandu Dilemma: Resetting India-Nepal Ties” book by Ranjit Rae
The book titled “Kathmandu Dilemma: Resetting India-Nepal Ties” book by Former ambassador to Nepal, Ranjit Rae has been released recently.
- The book examines India”s perspective on developments in the context of the civilisational and economic underpinnings of the relationship, as well as the issues that continue to prevent it from exploiting its full potential.
Breast Cancer Awareness Month
Every year, October is observed as Breast Cancer Awareness Month, an annual campaign to raise awareness about the impact of breast cancer.
- This year’s BCAM theme focuses on buddying up with one another because no one should fight cancer alone.
World Space Week
World Space Week is a week-long international celebration that starts from October 4 and ends on October 10, every year.
- The World Space Week is dedicated to the celebration of scientific and technological advancements that have been instrumental to the betterment of our lives.
- The theme for World Space Week 2021 has been chosen to be ‘Women in Space’.
World Habitat Day
World Habitat Day is is observed on the first Monday of every October, annually. This year the event falls on October 4.
- The day is aimed at promoting the basic right to adequate shelter and housing for everyone in a world which is densely populated, and has been affected by the impact of urbanisation.
- The theme for World Habitat Day 2021 is ‘Accelerating urban action for a carbon-free world’.