Daily Current Affairs 8th October, 2021

Daily Current Affairs 8 October 2021 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Finance Ministry releases Rs 40,000 cr to states, UTs to meet GST compensation shortfall 
Finance Ministry released 40,000 crore rupees to the States and UTs with Legislature under the back-to-back loan facility to meet the shortfall in GST Compensation.

• Earlier on 15th July this year, 75,000 crore rupees was released to the States and UTs with legislature. With the current release, the total amount released in the current financial year as back to back loan in-lieu of GST compensation has reached to 1 lakh 15 thousand crore rupees.
• This release is in addition to normal GST compensation being released every 2 months out of actual cess collection.

Maharashtra launches ‘Mission Kavach Kundal’ to Vaccinate 15 Lakh People daily 
As part of Central Government’s target of achieving 100 crore vaccination by 15th of October, Maharashtra Government launched a special seven-day COVID-19 inoculation drive called Mission Kavach-Kundal with a target to vaccinate 15 lakh people every day.

• Maharashtra Health Minister Rajesh Tope said, 65 per cent of the State’s eligible vaccine population received the first dose while 30 per cent have taken both doses.
• He said, the state has sufficient stock to vaccinate 15 lakh persons every day in this drive.

Regional Ayurveda Research Institute inks MoU with Sikkim Manipal University
Regional Ayurveda Research Institute (RARI) has signed a Memorandum of Understanding (MoU) with Sikkim Manipal University (SMU) to conduct collaborative research in mutually identified areas and promote research activities.

• The MoU aims at promoting relations and mutual understanding between the two institutions to recognise their strengths in research and education in one or more disciplines of science, medical and allied health sciences.

Ministry of Textiles approves continuation of Comprehensive Handicrafts Cluster Development Scheme
The Ministry of Textiles has approved continuation of Comprehensive Handicrafts Cluster Development Scheme (CHCDS) with a total outlay of ₹160 crore. The scheme will now continue up to March 2026.

• The scheme will provide infrastructural support, market access, design and technology up-gradation support to handicraft artisans.

INTERNATIONAL NEWS

India Joins High Ambition Coalition for Nature and People
India officially joined the High Ambition Coalition for Nature and People, a group of more than 70 countries encouraging the adoption of the global goal to protect 30×30.

• High Ambition Coalition for Nature and People members currently include a mix of countries in the global north and south, European, Latin American, Africa and Asia countries are among the members.
• India is the first of the BRICS bloc of major emerging economies to join the High Ambition Coalition for Nature and People.This coalition aims to promote an international agreement to protect at least 30 per cent the of world’s land and ocean by 2030. 

BANKING & FINANCE

RBI keeps repo rate unchanged at 4 pc, reverse repo rate at 3.35 pc
The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 4 per cent and the reverse repo rate at 3.35 per cent. This is the eighth time in a row that the Monetary Policy Committee MPC headed by RBI Governor Shaktikanta Das has maintained the status quo.

• With this, RBI announced some developmental and regulatory decisions which will have an impact on the country’s digital transactions and NBFCs customer interface.
• Das also informed that the RBI MPC has also projected India’s GDP Growth for Financial Year 2021-22 has been retained at 9.5 per cent. This consists of 7.9 per cent in Q2, 6.8 per cent in Q3 and 6.1 per cent in Q4 of 2021-22. The RBI Governor further said that the MPC has projected real GDP growth for Q1 of FY 2022-23 at 17.2 per cent.
• Meanwhile, CPI inflation is projected at 5.3 per cent for the financial year 2022, while the CPI inflation for Q1 of FY 2022-23 is projected at 5.2 per cent, Das said.
• In another important announcement, Shaktikanta Das said that the RBI has increased the limit of the Immediate Payment Service (IMPS). Now, the bank customers can transfer Rs 5 lakh through IMPS against the previous limit of Rs 2 lakh.

World Bank approves 40 mn dollar project to improve healthcare services in Meghalaya
The World Bank Board of Executive Directors has approved a USD 40 million project that is aimed at improving the quality of health services in Meghalaya and to strengthen the state’s capacity to handle future health emergencies, including the COVID-19 pandemic.

• The loan to be sanctioned by the International Bank for Reconstruction and Development (IBRD) has a maturity of 14.5 years, including a grace period of 5 years.

BharatPe launches ‘buy now, pay later’ platform – postpe
Fintech company BharatPe, announced its entry into the ‘Buy Now Pay Later’ (BNPL) category with the launch of ‘postpe’.

• The new platform provides credit to customers to buy now, but pay later from anywhere. Customers using the postpe platform can download the app from Play Store and avail interest-free credit limit of up to Rs 10 lakh. 
• The company said that postpe is not only limited to big-ticket purchases but can also be used for micro-purchases, making it the first of its kind.

BUSINESS & ECONOMY

Emmvee signs MoU with Karnataka Government to set up 3 GW manufacturing facility in Dobaspet
Bangalore-based solar module manufacturer Emmvee has signed a MoU with Karnataka government to set up an Rs 825 crore solar modules and cells manufacturing plant in the state.

• Coming up at Dobaspet, Karnataka, the plant is an addition to the manufacturer’s existing solar modules manufacturing plant of 0.5 GW capacity in Bengaluru district of the state. The plant is expected to provide jobs to 736 local youths.

SPORTS

Indian grappler Anshu Malik scripts history as she becomes first Indian woman to win silver medal in World Wrestling Championships
Indian grappler Anshu Malik has scripted history as she became the first Indian woman to win a silver medal in the World Wrestling Championships.

• Anshu lost to Olympic medallist Helen Maroulis of the USA 4-1 in the summit clash of women’s 57 kg category at Oslo in Norway.
• India’s Sarita Mor, a two-time Asian champion, won a bronze medal in the women’s 59 kilogram category after beating Sweden’s Sara Lindborg 8-2 in the playoff. Previously, only five Indian women had won bronze at the world championships.

Germany Unveils Logo For 2024 European Championship In Berlin
Germany has unveiled the logo for 2024 European Championship during a ceremony with a light show in the stadium that will hold the final.

• The logo features an outline of the Henri Delaunay Cup, the bulbous tournament trophy, set on a colored oval outline that resembles the Olympiastadion’s roof.
• It features colors from the flags of UEFA’s 55 member nations, set in 24 slices around the trophy to represent the 24 teams that will ultimately qualify for the tournament in Germany.

Hockey India withdraws from 2022 Commonwealth Games in England
India pulled out of the 2022 Birmingham Commonwealth Games’ hockey competition stating the risk of contracting COVID-19 and the discriminatory quarantine rules by the United Kingdom (UK) for travellers coming from India.

• The UK has refused to consider India’s COVID-19 vaccination certificates and imposed a 10-day quarantine on travellers coming from India even if fully vaccinated. India has also imposed reciprocal rules on all UK nationals arriving in the country following UK’s discriminatory quarantine rules.

APPOINTMENTS

IFC names Wendy Werner as India Country Head
The International Finance Corporation (IFC), an arm of the World Bank, has appointed Wendy Werner as the new country head for India.

• Werner replaced Jun Zhang, who retired recently after a long career with theWashington-based private-sector lender.

PL Haranadh takes over as Chairman of Paradip Port Trust
P L Haranadh took over as chairman of Paradip Port Trust (PPT) and emphasised on making it the number one major port in the country.

• An IRTS officer of the 1994 batch, he has studied MSc and PhD from the Indian Agricultural Research Institute, Pusa, New Delhi.
• During his 27 years of service, he worked in the Indian Railways for 22 years and five years in the Ministry of Shipping.

CCI chief Ashok Kumar Gupta gets additional charge as NFRA chairperson
Competition Commission chief Ashok Kumar Gupta has been given additional charge as the chairperson of the National Financial Reporting Authority (NFRA).NFRA Chairperson R Sridharan is demitting office after being at the helm for three years.

• Gupta, who is the chairperson of the Competition Commission of India (CCI), has been given the additional charge as NFRA chairperson for three months with effect from October 1.
• The additional charge would be for three months or till the appointment of a regular incumbent or till further orders.

AWARDS

Novelist Abdulrazak Gurnah wins Nobel prize for literature
Tanzanian Novelist Abdulrazak Gurnah has won the 2021 Nobel Prize in literature for his uncompromising and compassionate penetration of the effects of colonialism and the fate of the refugees in the gulf between cultures and continents.

• The Nobel Prize in literature is awarded by the Swedish Academy of Stockholm, Sweden.
• The Swedish Academy in a statement said that the theme of the refugee’s disruption runs throughout Abdulrazak Gurnah’s work. He began writing as a 21-year-old in English exile, and although Swahili was his first language, English became his literary tool.

Indian hockey players sweep FIH Stars Awards 
The FIH announced that India made a clean-sweep of its annual awards. It’s the first time that a country has won in all eight categories. Gurjit Kaur was named as the best woman player while Harmanpreet Singh was the best male.

• Savita Punia and PR Sreejesh were chosen as the best goalkeepers in the world while Sharmila Devi and Vivek Sagar Prasad were elected as the best rising stars.
• Sjoerd Marijne, captain of the the Indian women’s hockey team, and Indian men’s hockey team skipper Graham Reid too grabbed the highest number of votes in their respective categories.

SCIENCE & TECHNOLOGY

Assam launches app ‘Fishwaale’, India’s first e-fish market
Assam Fisheries Minister Parimal Suklabaidya launched an application, stated to be India’s first e-fish market app. The app – ‘Fishwaale’ – will provide one-stop solution for aquaculture.

• The app  ‘Fishwaale’ will provide one-stop solution for aquaculture. It will also help both buyers and sellers to place orders and sell fish, aquaculture equipment and medicine, fish feed and fish seed online.

IMPORTANT DAYS

Indian Air Force celebrated its 89th anniversary
Every year, the Indian Air Force (IAF) Day is marked on 8 October.

• The day is celebrated to commemorate the 89th foundation day of the IAF. Established in 1932 as a supporting part of the UK’s Royal Air Force, the IAF has since distinguished itself as the protector of the Indian airspace.
• Indian Air Force was officially established on 8 October 1932 by the British Empire as the Royal Indian Air Force. The name was changed to Indian Air Force in 1950.

World Egg Day
World Egg Day is celebrated every year on the second Friday of October month to celebrate the power of the egg.

• This year it is fall on October 8,2021 and will mark the 25th anniversary of the event.
• The theme for 2021 World Egg Day is “Eggs for all: Nature’s perfect package”.

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