Daily Current Affairs 9 July 2021 for Banking/Insurance/SSC and other related exams.
Finance Ministry releases 4th monthly installment of Post-Devolution Revenue Deficit Grant of over 9 thousand 871 crore rupees to 17 states
The Union Finance Ministry has released the fourth monthly installment of Post-Devolution Revenue Deficit Grant of over nine thousand 871 crore rupees to the 17 states. A total amount of 39 thousand 484 crore rupees has been released to eligible states in the current financial year so far.
- In terms of release, Kerala stands at top position followed by West Bengal and Andhra Pradesh. The Fifteenth Finance Commission has recommended a total Post-Devolution Revenue Deficit Grant of one lakh 18 thousand 452 crore to 17 states in the current financial year.
PM Modi announces over Rs 23,000 crore package for emergency response to COVID-19
Prime Minister Narendra Modi said a new package of more than Rs 23,000 crore rupees has been approved to further strengthen the fight against COVID.
- Under this, necessary arrangements like pediatric care units to ICU beds, oxygen storage, ambulances and medicines will be made in all the districts of the country.
- The Union Cabinet approved a new scheme ‘India COVID-19 Emergency Response and Health System Preparedness Package: Phase-II’ amounting to Rs 23,123 crore for financial year 2021-22.It also includes Paediatric Care and with measurable outcomes.Phase -2 will be implemented from 1st of July 2021 to 31st March 2022.
Union Cabinet approves MoC between CCI and JFTC to promote and strengthen cooperation in matter of Competition Law and Policy
The Union Cabinet has approved the Memorandum on Cooperation (MoC) between Competition Commission of India (CCI) and Japan Fair Trade Commission (JFTC) to promote and strengthen cooperation in the matter of Competition Law and Policy.
- The approved MoC, through exchange of information, will enable CCI to emulate and learn from the experiences and lessons of its counterpart competition agency in Japan which would enhance efficiency.
Ladakh and HFRI sign MoU for forest cover development in region
Union Territory of Ladakh and Himalayan Forest Research Institute (HFRI) have signed a Memorandum of Understanding (MoU) for forest cover development in the region.
- HFRI would study and identify the suitable plant varieties to increase the forest cover in Ladakh and also help in capacity building with training programmes at grass root level. Depending on the requirement a regional HFRI centre in Ladakh is also in plan.
Indian Army names firing range in Gulmarg after Vidya Balan
The Indian Army has named one of its firing ranges in Kashmir after Bollywood actress Vidya Balan.
- The Vidya Balan firing range is situated at Gulmarg in the Baramulla district of Jammu & Kashmir.
Indian Army inaugurates war memorial of Capt Gurjinder Singh Suri
On the occasion of the birthday of Captain Gurjinder Singh Suri, who died during the operation “Birsa Munda” in 1999, the Indian Army inaugurated a war memorial in memory of Captain in Gulmarg near the Line of Control (LOC).
- Operation Birsa Munda was a punitive raid conducted against a Pakistani post by a Bihar battalion of the Indian Army, in the month of November 1999. This was the time when Operation Vijay had drawn to a close, but the Line of Control was still active with sporadic incidents of trans Line of Control violence.
About 11.4 crore jobs were lost worldwide during the pandemic: OECD
About 11.4 crore jobs were lost worldwide during the COVID-19 pandemic, the Organisation for Economic Co-operation and Development (OECD) has said in a report.
- It further said that about 2.2 crore jobs disappeared by the end of 2020 in industrial nations. There are still over 80 lakh people unemployed than before the COVID-19 pandemic, OECD added.
BANKING & FINANCE
NABARD sanctions ₹ 2891.15 lakh under RIDF scheme to Goa
NABARD has sanctioned a loan worth Rs2891.15 lakh under the Rural Infrastructure Development Fund (RIDF) to the Government of Goa for ‘Construction of Phase II Building of Goa Dental College and Hospital, Bambolim, Goa.
- The project sanctioned will be the State of the Art ‘Dental Hospital’ for major dental treatment and for overall improvement in health standards of the people.
Aeldra offers unique ‘Zero Fee’ bank account to U.S.-bound Indian students
To cater to Indian students gearing up for admissions in the U.S., Aeldra Financial Inc., a Silicon-valley based pioneering ‘digital neo bank’, is offering a unique U.S. bank account with a Mastercard Global Debit Card that can be opened and operated from India, even before students get an F-1 visa.
- Students can fund the account and receive the debit card so that they have a functional U.S. bank account before they leave for the U.S.
- The no-fee account has enabled thousands of customers to save up to $500 in miscellaneous bank fees, foreign transaction fees and foreign exchange mark-ups, and forego carrying cash. In addition, the account pays up to 50X interest rates compared to other banks in the U.S.
Bajaj Allianz General ties up with Bank of India to offer insurance products
Bajaj Allianz General Insurance and Bank of India have entered into a corporate agency agreement.
- This will enable distribution of Bajaj Allianz General Insurance’s products through the bank’s vast network of 5,084 branches, 80 retail business centres and 60 SME city centres across the country.
RBI Asks Banks to Shift from LIBOR to Alternative Reference Rates by Dec 31
The Reserve Bank asked banks and financial institutions to use any widely accepted alternative reference rate (AAR) instead of LIBOR (London Interbank Offered Rates) as the reference rate for entering into new financial contracts.
- The RBI has also advised the financial institutions to cease using the Mumbai Interbank Forward Outright Rate (MIFOR), a benchmark which references the LIBOR, latest by December 31, 2021.
BUSINESS & ECONOMY
Govt includes retail, wholesale trade under MSMEs
The Reserve Bank of India (RBI) has notified the inclusion of retail and wholesale trade under the ambit of the MSME (micro, small and medium enterprise) category.
- The move comes days after the Centre announced that both of the above-mentioned segments will come under the MSME classification.
- This will help retail and wholesale trade benefit from priority sector lending under RBI guidelines.
SIDBI rolls out various development measures for MSMEs
Small Industries Development Bank of India (SIDBI) said it has rolled out various developmental measures for MSMEs on World MSME Day on June 27, 2021.
- Under its project SAHAS, SIDBI has soft-launched “Swavalamban Chair for MSME Solutions,” at Government Engineering College, Thrissur, supported by Swavalamaban Resource Facility, set up in partnership with Foreign, Commonwealth, and Development Office, UK.
- SIDBI has also provided support to the Chamber of Indian Micro, Small and Medium Enterprises (CIMSME) for setting up ‘Swavalamban Suvidha Kendra.
- SIDBI has entered into a memorandum of understanding (MoU) with Global Alliance for Mass Entrepreneurship to help MSMEs address COVID-19-induced challenges.
NCDEX launches two sectoral agri-commodities indices
The National Commodity Derivatives Exchange (NCDEX) has launched two agriculture-focused commodity indices NCDEX Guarex and NCDEX Soydex.
- Guarex will track price movement in the futures contracts of its underlying Guar Seed and Guar Gum Refined Splits on a real-time basis.
- Similarly, Soydex will follow the price changes in futures contracts of Soybean and Refined Soy Oil.
ASCI partners with FSSAI to curb misleading claims in F&B ads
Ad regulator the Advertising Standards Council of India (ASCI) announced that it has signed an agreement with the Food Safety and Standards Authority of India (FSSAI) to safeguard consumers against misleading claims in food and beverage (F&B) advertisements.
- As per the agreement, ASCI will identify advertisements which prima facie violate provisions of Food Safety And Standards (Advertising And Claims) Regulations, 2018, and FSSAI would further investigate these.
Amazon Launches First ‘Digital Kendra’ in Gujarat to Help MSMEs Digitise Operations
Amazon India launched its first ‘Digital Kendra’ in Surat, Gujarat, as part of its commitment to digitise 10 million Indian micro, small and medium enterprises by 2025.
- Amazon Digital Kendras are bricks-and-mortar resource centres that will provide MSMEs information on benefits of e-commerce, and help avail third-party services such as shipping and logistics support, cataloguing assistance, digital marketing services, GST and taxation support, to start their digital journey.
Mumbai, Pune to host 2022 women’s Asian Cup
Next year’s women’s Asian Cup in India will be held in Mumbai and Pune after the Asian Football Confederation dropped Bhubaneswar and Ahemdabad as venues to minimise the travelling time for participants and ensure an “optimum environment” for a bio-secure bubble.
- The Mumbai Football Arena at the Andheri Sports Complex and the Shiv Chhatrapati Sports Complex in Balewadi, Pune have been chosen as the new venues.
Cabinet Reshuffle: 43 Leaders Take Oath As Ministers
43 leaders will take oath as ministers as part of the first Cabinet expansion by Prime Minister Narendra Modi in his second term.
- In total, 15 Ministers were inducted into the Union Cabinet and 28 Ministers were inducted as Ministers of State.
- PM Modi will continue to head the following – Ministry of Personnel, Public Grievances and Pensions; Department of Atomic Energy; Department of Space; All important policy issues; and All other portfolios not allocated to any Minister.
List of New Cabinet ministers:
|1||Rajnath Singh||Minister of Defence|
|2||Amit Shah||Minister of Home Affairs; and Minister of Cooperation|
|3||Mansukh Mandaviya||Minister of Health and Family Welfare; and Minister of Chemicals and Fertilizers|
|4||Nitin Gadkari||Minister of Road Transport and Highways|
|5||Nirmala Sitharaman||Minister of Finance; and Minister of Corporate Affairs|
|6||Narendra Singh Tomar||Minister of Agriculture and Farmers Welfare|
|7||Dr S. Jaishankar||Minister of External Affairs|
|8||Arjun Munda||Minister of Tribal Affairs|
|9||Smriti Irani||Minister of Women and Child Development|
|10||Piyush Goyal||Minister of Commerce and Industry; Minister of Consumer Affairs, Food and Public Distribution; and Minister of Textiles|
|11||Dharmendra Pradhan||Minister of Education; and Minister of Skill Development and Entrepreneurship|
|12||Pralhad Joshi||Minister of Parliamentary Affairs; Minister of Coal; and Minister of Mines|
|13||Narayan Rane||Minister of Micro, Small and Medium Enterprises|
|14||Sarbananda Sonowal||Minister of Ports, Shipping and Waterways; and Minister of AYUSH|
|15||Mukhtar Abbas Naqvi||Minister of Minority Affairs|
|16||Dr. Virendra Kumar||Minister of Social Justice and Empowerment|
|17||Giriraj Singh||Minister of Rural Development; and Minister of Panchayati Raj|
|18||Jyotiraditya M. Scindia||Minister of Civil Aviation|
|19||Ashwini Vaishnaw||Minister of Railways; Minister of Communications; and Minister of Electronics and Information Technology|
|20||Ramchandra Prasad Singh||Minister of Steel|
|21||Pashu Pati Kumar Paras||Minister of Food Processing Industries|
|22||Gajendra Singh Shekhawat||Minister of Jal Shakti|
|23||Kiren Rijiju||Minister of Law and Justice|
|24||Ra Kumar Singh||Minister of Power; and Minister of New and Renewable Energy|
|25||Hardeep Singh Puri||Minister of Petroleum and Natural Gas; and Minister of Housing and Urban Affairs|
|26||Bhupender Yadav||Minister of Environment, Forest and Climate Change; and Minister of Labour and Employment|
|27||Mahendra Nath Pandey||Minister of Heavy Industries|
|28||Parshottam Rupala||Minister of Fisheries, Animal Husbandry and Dairying|
|29||G. Kishan Reddy||Minister of Culture; Minister of Tourism; and Minister of Development of North Eastern Region|
|30||Anurag Singh Thakur||Minister of Information and Broadcasting; and Minister of Youth Affairs and Sports|
|Ministers of State (Independent Charge)|
|1||Rao Inderjit Singh||Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation; Minister of State (Independent Charge) of the Ministry of Planning; and Minister of State in the Ministry of Corporate Affairs|
|2||Dr Jitendra Singh||Minister of State (Independent Charge) of the Ministry of Science and Technology; Minister of State (Independent Charge) of the Ministry of Earth Sciences; Minister of State in the Prime Minister’s Office; Minister of State in the Ministry of Personnel, Public Grievances and Pensions; Minister of State in the Department of Atomic Energy; and Minister of State in the Department of Space|
|Ministers of State|
|1||Shripad Yesso Naik||Minister of State in the Ministry of Ports, Shipping and Waterways; and Minister of State in the Ministry of Tourism|
|2||Faggansingh Kulaste||Minister of State in the Ministry of Steel; and Minister of State in the Ministry of Rural Development|
|3||Prahalad Singh Patel||Minister of State in the Ministry of Jal Shakti; and Minister of State in the Ministry of Food Processing Industries|
|4||Ashwini Kumar Choubey||Minister of State in the Ministry of Consumer Affairs, Food and Public Distribution; and Minister of State in the Ministry of Environment, Forest and Climate Change|
|5||Arjun Ram Meghwal||Minister of State in the Ministry of Parliamentary Affairs; and Minister of State in the Ministry of Culture|
|6||General (Retd.) V. K. Singh||Minister of State in the Ministry of Road Transport and Highways; and Minister of State in the Ministry of Civil Aviation|
|7||Krishan Pal||Minister of State in the Ministry of Power; and Minister of State in the Ministry of Heavy Industries|
|8||Danve Raosaheb Dadarao||Minister of State in the Ministry of Railways; Minister of State in the Ministry of Coal; and Minister of State in the Ministry of Mines|
|9||Ramdas Athawale||Minister of State in the Ministry of Social Justice and Empowerment|
|10||Sadhvi Niranjan Jyoti||Minister of State in the Ministry of Consumer Affairs, Food and Public Distribution; and Minister of State in the Ministry of Rural Development|
|11||Dr. Sanjeev Kumar Balyan||Minister of State in the Ministry of Fisheries, Animal Husbandry and Dairying|
|12||Nityanand Rai||Minister of State in the Ministry of Home Affairs|
|13||Pankaj Chaowdhary||Minister of State in the Ministry of Finance|
|14||Anupriya Singh Patel||Minister of State in the Ministry of Commerce and Industry|
|15||Prof. S. P. Singh Baghel||Minister of State in the Ministry of Law and Justice|
|16||Rajeev Chandrasekhar||Minister of State in the Ministry of Skill Development and Entrepreneurship; and Minister of State in the Ministry of Electronics and Information Technology|
|17||Shobha Karandlaje||Minister of State in the Ministry of Agriculture and Farmers Welfare|
|18||Bhanu Pratap Singh Verma||Minister of State in the Ministry of Micro, Small and Medium Enterprises|
|19||Darshana Vikram Jardosh||Minister of State in the Ministry of Textiles; and Minister of State in the Ministry of Railways|
|20||V. Muraleedharan||Minister of State in the Ministry of External Affairs; and Minister of State in the Ministry of Parliamentary Affairs|
|21||Meenakashi Lekhi||Minister of State in the Ministry of External Affairs; and Minister of State in the Ministry of Culture|
|22||Som Parkash||Minister of State in the Ministry of Commerce and Industry|
|23||Renuka Singh Saruta||Minister of State in the Ministry of Tribal Affairs|
|24||Rameswar Teli||Minister of State in the Ministry of Petroleum and Natural Gas; and Minister of State in the Ministry of Labour and Employment|
|25||Kailash Choudhary||Minister of State in the Ministry of Agriculture and Farmers Welfare|
|26||Annpurna Devi||Minister of State in the Ministry of Education|
|27||A. Narayanaswamy||Minister of State in the Ministry of Social Justice and Empowerment|
|28||Kaushal Kishore||Minister of State in the Ministry of Housing and Urban Affairs|
|29||Ajay Bhatt||Minister of State in the Ministry of Defence; and Minister of State in the Ministry of Tourism|
|30||B. L. Verma||Minister of State in the Ministry of Development of North Eastern Region; and Minister of State in the Ministry of Cooperation|
|31||Ajay Kumar||Minister of State in the Ministry of Home Affairs|
|32||Devusinh Chauhan||Minister of State in the Ministry of Communications|
|33||Bhagwanth Khuba||Minister of State in the Ministry of New and Renewable Energy; and Minister of State in the Ministry of Chemicals and Fertilizers|
|34||Kapil Moreshwar Patil||Minister of State in the Ministry of Panchayati Raj|
|35||Pratima Bhoumik||Minister of State in the Ministry of Social Justice and Empowerment|
|36||Dr. Subhas Sarkar||Minister of State in the Ministry of Education|
|37||Dr. Bhagwat Kishanrao Karad||Minister of State in the Ministry of Finance|
|38||Dr. Rajkumar Ranjan Singh||Minister of State in the Ministry of External Affairs; and Minister of State in the Ministry of Education|
|39||Dr. Bharati Pravin Pawar||Minister of State in the Ministry of Health and Family Welfare|
|40||Bishweswar Tudu||Minister of State in the Ministry of Tribal Affairs; and Minister of State in the Ministry of Jal Shakti|
|41||Shantanu Thakur||Minister of State in the Ministry of Ports, Shipping and Waterways|
|42||Dr. Munjapara Mahendrabhai||Minister of State in the Ministry of Women and Child Development; and Minister of State in the Ministry of AYUSH|
|43||John Barla||Minister of State in the Ministry of Minority Affairs|
|44||Dr. L. Murugan||Minister of State in the Ministry of Fisheries, Animal Husbandry and Dairying; and Minister of State in the Ministry of Information and Broadcasting|
|45||Nisith Pramanik||Minister of State in the Ministry of Home Affairs; and Minister of State in the Ministry of Youth Affairs and Sports.|
PVSLN Murty appointed as new chairman and MD of NEDFi
PVSLN Murty has joined as the new Chairman & Managing Director of North Eastern Development Finance Corporation Ltd. (NEDFi).
- Murty, a Chief General Manager and Chief Strategy Officer of largest public sector bank State Bank of India (SBI), brings with him 40 years of rich commercial and development banking experience in diverse and varied areas of Financial System.
- Prior to joining NEDFi, Murty was posted as Chief Strategy Officer at SBI, based at the Corporate office, Mumbai.
ICC CEO Manu Sawhney Resigns Amid Inquiry Over Conduct
International Cricket Council (ICC) CEO Manu Sawhney resigned from his position, four months after his allegedly “abrasive conduct” came under the scanner during an internal investigation, prompting the world body to send him on leave.
- Geoff Allardice will continue as Acting CEO supported by the Leadership Team working closely with the ICC Board .
Indian economist Kaushik Basu honoured with Humboldt Research Award
Indian economist Kaushik Basu has been awarded the Humboldt Research Award for Economics. The award was conferred on him by Professor Dr Hans-Bernd Schäfer of Bucerius Law School in Hamburg, Germany.
- A former chief economist of the World Bank, Basu is currently a professor of Economics at Cornell University. He also served as the Government of India’s chief economic advisor from 2009 to 2012.
- Basu is also a recipient of the Padma Bhushan, the third-highest civilian award in India.
SCIENCE & TECHNOLOGY
Defence Ministry implements SPARSH, web-based integrated system for sanction and disbursement of defence pension
The Defence Ministry has implemented SPARSH, an integrated system for automation of sanction and disbursement of defence pension.
- This web-based system processes pension claims and credits pension directly into the bank accounts of defence pensioners without relying on any external intermediary.
- The Ministry said, a Pensioner Portal is available for pensioners to view their pension related information, access services and register complaints for redressal of grievances.
ICAI launches mobile app for Foundation, Inter and Final course students
Institute of Chartered Accountants of India, ICAI launched a mobile app for students of foundation, intermediate and final course students. The ICAI Board of Studies (Academics) launched the mobile app on July 1, 2021, on the occasion of CA Day.
- The mobile app named, “ICAI-BOS” will have to potential to provide next-generation interactive learning and innovative ways to improve quality services to the students and to establish a strong connection with them as well.
Screenwriter-filmmaker Kumar Ramsay passes away
Screenwriter and filmmaker Kumar Ramsay, the eldest amongst Ramsay Brothers, passed away due to a cardiac arrest. He was 85.
- Production house Ramsay Brothers, which included seven brothers — Kumar, Keshu, Tulsi, Karan, Shyam, Gangu and Arjun — ruled the horror genre, making low-budget cult movies during the 70s and the 80s.
- Meanwhile, Kumar Ramsay was instrumental in scripting most of their films, including Purana Mandir, Saaya, amongst others. He also bankrolled films like Aur Kaun and Dahshat.