Daily Current Affairs 6 April 2021 for Banking/Insurance/SSC and other related exams.
Russia registers world’s 1st Covid vaccine Carnivac-Cov for animals
The world’s first animal vaccine against the novel coronavirus has been registered in Russia, the country’s agriculture safety watchdog Rosselkhoznadzor.
- The immunity lasts for six months after the vaccination, but the dose’s developers are continuing to analyse this, the watchdog said.
BANKING & FINANCE
World Bank, AIIB approve loan for USD 300 million canal-based drinking water projects in Punjab
The World Bank and Asian Infrastructure Investment Bank (AIIB) have approved the loan for USD 300 million (about Rs 2,190 crore) canal-based drinking water projects in Punjab.
- The project is aimed at ensuring quality drinking water and minimise water losses for Amritsar and Ludhiana.
- The entire project will be co-financed by IBRD (World Bank) – USD 105 million, Asian Infrastructure Investment Bank – USD 105 million and the Punjab government – USD 90 million.
World Bank approves USD 32 million project to boost health services in Mizoram
The World Bank Board of Executive Directors has approved a USD 32 million project to improve management capacity and quality of health services in Mizoram.
- The project titled “Mizoram Health Systems Strengthening Project” will strengthen the governance and the management structure of the Mizoram Health department and its subsidiaries.
- It will improve the quality and coverage of services delivered by the state government health systems, and inve stin a comprehensive quality assurance programme which would enable quality certification of health facilities.
RBI tightens supervision norms for payment companies amid rising cyber-security breaches
As instances of cyber-security breaches at Indian tech startups over the last few months is on the rise, the Reserve Bank of India has tightened its supervision norms over payment companies storing customer data.
- From April 1, all licensed payment system operators (PSOs) will have to submit detailed “compliance certificates” to the central bank twice a year, signed by their CEOs or managing directors, confirming adherence to all RBI regulations around security and storage of payment data.
- RBI has asked these certificates be submitted on April 30 and October 31 for the period ending March 31 and September 30, respectively, every year.
J.P. Morgan ties up with BillDesk for online payments partnership
Payments aggregator BillDesk announced a partnership with global financial institution J.P. Morgan to offer online payments solutions to the bank’s corporate clients in India.
- Through this partnership, J.P. Morgan’s clients in India will be able to independently initiate statutory and utility payments online with more than 100 merchants that BillDesk partners with, securely and without additional manual assistance from their partner banks.
- The solution integrates BillDesk’s payments platform with the J.P. Morgan Access banking portal, and uses application programming interface (API) technology to authenticate and verify payments instantaneously, allowing payments to be executed in real time.
PhonePe becomes first player to cross billion-transaction mark on UPI
Digital payments major, PhonePe said it has crossed a billion transactions on Unified Payments Interface (UPI) infrastructure in March, making it the first player in the country to reach this milestone.
- PhonePe has overall clocked close to 1.3 billion transactions on its platform, across payment offerings of wallet, cards as well as UPI, last month.
- PhonePe also claimed that its annual payment value run rate hit $388 billion in March.
RBI clears over Rs 21,000 cr towards CCL for wheat procurement in Punjab
The Reserve Bank of India (RBI) cleared a sum of Rs 21,658.73 crore towards Cash Credit Limit (CCL) up to end April-2021 for the procurement of wheat in Punjab during the ensuing rabi marketing season.
- With this, the bulk of the CCL sought by the state government for the purchase of 105.60 lakh tonnes of wheat for this season has been released by the central bank.
- The central government has fixed the minimum support price (MSP) of wheat at Rs 1,975 per quintal, hiking it by Rs 50 from last year’s Rs 1,925 per quintal.
BUSINESS & ECONOMY
Singapore Stock Exchange to open office at Gujarat International Finance Tec-City
Singapore Stock Exchange (SGX) will be establishing its offshore office at Gujarat International Finance Tec-City (GIFT-City) in Gandhinagar.
- The Singapore delegation is in Gujarat to complete the establishment of the offshore office of the Singapore Stock Exchange (SGX) at the GIFT City by April-end.
WTO revises upwards its projection for global trade volume growth in 2021 to 8%
Painting an optimistic picture for exporters, the World Trade Organisation has revised upwards its prediction for global merchandise trade volume growth in 2021 to 8 per cent compared to the 7.2 per cent growth forecast in October 2020.
- “Trade growth should then slow to 4 per cent in 2022 and the effects of pandemic will continue to be felt as this pace of expansion would still leave trade below its pre-pandemic trend,” indicated the WTO’s most recent forecast on March 31.
- India’s two top export destinations, the US and the EU, likely to see import growth of 11.4% and 8% respectively.
- Moreover, much of global import demand will be met by Asia, exports from which are expected to grow by 8.4 per cent in 2021.
Fiscal deficit for April-Feb hits 76% of revised full-year target
India’s federal fiscal deficit in the 11 months to the end of February stood at ₹14.01 trillion ($191.61 billion), or 76% of the revised budgeted target for the whole fiscal year, government data showed.
- Net tax receipts were ₹12.16 trillion, while total expenditure was ₹28.19 trillion, the data showed.
Gross NPAs of banks may rise to 9.6-9.7% by March-end: Report
As the impact of various relief measures, including a moratorium on loan repayment and asset classification standstill wanes off, gross non-performing assets of banks may likely rise to 9.6-9.7 per cent by March 31, 2021, says a report.
- According to Icra Ratings, GNPAs (gross non-performing assets) of banks may worsen further to 9.9-10.2 per cent by March 31, 2022.
- The rating agency, in a report, said despite the impact of the Covid-19 pandemic on the debt servicing ability of borrowers, the gross fresh slippages for banks stood much lower at Rs 1.8 lakh crore during the first nine months of fiscal 2020-21 as compared to Rs 3.6 lakh crore during the financial year 2020.
Total FDI up 15% in April-January, highest so far in first 10 months of any fiscal
India attracted total foreign direct investment (FDI) inflow of $72.12 billion in April-January, 2021, the highest ever for the first ten months of a financial year, the government said.
- The FDI inflows, which include equity, reinvested earnings and other capital, were 15% higher as compared to the first ten months of FY20 which were $62.72 billion.
- The computer software and hardware emerged as the top sector during the first ten months of the fiscal with 45.81% of the total FDI Equity inflow, followed by Construction (Infrastructure) Activities at 13.37% and services sector at 7.8%, respectively.
- Japan has been leading the list of investor countries to invest in India with 29.09% of the total FDI Equity inflows during January, 2021, followed by Singapore (25.46%) and the USA (12.06%).
NCAER appoints World Bank’s economist Poonam Gupta as Director General
The National Council of Applied Economic Research (NCAER) has appointed Poonam Gupta as its new director general, effective from July 1.
- Gupta will succeed the current head of the think tank, Shekhar Shah, to become the first woman to hold the post.
- Prior to joining the World Bank in 2013, Gupta was the Reserve Bank of India Chair Professor at NIPFP, and a Professor of Macroeconomics at ICRIER.
Justice N V Ramana appointed as 48th Chief Justice of India
President Ram Nath Kovind has appointed Justice N V Ramana as the 48th Chief Justice of India, accepting the recommendation made by the outgoing CJI SA Bobde. Justice Ramana will have a term till August 26th next year.
- Before his elevation to the Supreme Court on February 17th, 2014, Justice Ramana was the Chief Justice of the Delhi High Court. He was born in an agricultural family in Andhra Pradesh.
Pham Minh Chinh sworn in as Vietnam’s next Prime Minister
Vietnam’s National Assembly confirmed Pham Minh Chinh, a career security official, as the southeast Asian country’s next Prime Minister at an official ceremony.
- Chinh, 62, was the sole nominee put forward by the ruling Communist Party for the post at a congress earlier this year. He won 96.25% of the vote at National Assembly vote.
- Chinh will replace former Prime Minister Nguyen Xuan Phuc, who was confirmed as the country’s new president, a largely ceremonial role.
Jeffrey Ullman And Alfred Aho win 2020 ACM A.M.Turing Award
ACM , the Association for Computing Machinery, has named Alfred Vaino Aho and Jeffrey David Ullman the recipients of the 2020 ACM A.M. Turing Award for fundamental algorithms and theory underlying programming language implementation.
- They have been recognised for synthesising these results in their highly influential books, which educated generations of computer scientists.
- Being the “Nobel Prize of Computing,” the ACM A.M. Turing Award carries a $1 million prize, with financial support provided by Google, Inc.
SCIENCE & TECHNOLOGY
Bharat Dynamics flags off Akash Missiles for delivery to Indian Army
Bharat Dynamics Ltd (BDL) manufactured Akash Missiles were flagged off by Lt Gen A P Singh, AVSM, Director General and Senior Colonel Commandant, Army Air Defence for delivery to the Indian Army.
- The Akash Weapon System, designed and developed by DRDO (Defence Research and Development Organisation) with 96% indigenous content, is being manufactured by BDL at its Hyderabad Unit with a large number of supply chain partners which include DPSUs, MSMEs and private industry.
- Akash Missile has the capability to engage aerial threats up to the maximum range of 25 km and up to an altitude of 20 km, operating at a speed range of 1.8 to 2.5 Mach.
IIT Kanpur develops touch-sensitive watch for the visually impaired
A professor and a research associate at the Indian Institute of Technology, Kanpur, (IIT-K) have developed a novel touch-sensitive watch for the use of visually impaired people to sense time accurately.
- The watch has tactile hour indicators of different shapes that makes it easy for the visually impaired people to recognise them.
- The user has to touch and scan the touch sensitive watch’s hour indicators and with the help of different vibration patterns, the watch communicates back the time information that is easily perceived by the user.
Samajwadi Party founder member Bhagwati Singh passes away
Founder member of the Samajwadi Party and former UP minister Bhagwati Singh died. He was 89.
- A SP member of the Rajya Sabha from July 2004 to 2010, Bhagwati Singh joined the socialist movement following inspiration from the socialist ideologue Ram Manohar Lohia.
- Bhagwati Singh was a member of Mulayam cabinet and later stood by Akhilesh Yadav when he was elected as the SP national president. He led the management of Chandrabhanu Gupta Agriculture College in Bakshi ka Talab.
Nobel laureate Isamu Akasaki, inventor of blue LED, passes away
Japanese Physicist Isamu Akasaki, a co-winner of the 2014 Nobel Prize in Physics, has passed away following pneumonia. He was 92.
- In 2014, Akasaki, a professor at Meijo University, shared the Nobel Prize in Physics with physicist Hiroshi Amano, a professor at the University of Nagoya, and Japan-born American Shuji Nakamura, a professor at the University of California, Santa Barbara.
BOOKS & AUTHORS
“Wisdom For Start-ups From Grown-ups: Discovering Corporate Ayurveda” Book by R. Gopalakrishnan and R. Narayanan
The book titled “Wisdom for Start-ups from Grownups: Discovering Corporate Ayurveda” by R. Gopalakrishnan and R. Narayanan, has been released recently.
- “Wisdom for Start-ups from Grownups: Discovering Corporate Ayurveda” is the culmination of their collaborative effort to bring the best of what grown-ups have to offer to start-ups, presented in the form of all-important lessons.
“Cinema Through Rasa: A Tryst with Masterpieces in the Light of Rasa Siddhānta” book by Prachand Praveer
The book “Cinema Through Rasa” by Prachand Praveer discusses the important works of the world cinema in the light of Rasa Siddhānta of the Indian classical aesthetics.
- This book is a translation of the original Hindi book “Abhinava Cinema”, which was first published in 2016. The translation has been done by Geeta Mirji Narayan.