Current Affairs

14 August, 2021


EXIM Bank to provide LoC of USD 100 Million to Mauritius

The Export and Import bank (EXIM) of India will provide Line of Credit (LoC) of USD 100 Million(~ INR 742.6 Crore) to the Government of Mauritius for procurement of Defense items. Under the agreement, the Mauritius Government shall buy goods, works and services of value of at least 75% from any seller in India, the remaining can be procured from Outside India. The agreement under the LoC is effective from July 22, 2021. With the signing of this loan agreement, EXIM bank till date has extended 6 LoCs to the Mauritius Government of total value USD 764.80 mn

About Export-Import Bank of India (EXIM Bank)
Established– 1982
Regulated by – Reserve Bank of India
Headquarters – Mumbai, Maharashtra
Managing Director– David Rasquinha
About Mauritius
Prime Minister – Pravind Jugnauth
Capital – Port Louis
Currency – Mauritian Rupee

IATA, UNCTAD extend partnership to facilitate Global Trade

International Air Transport Association (IATA) and United Nations Conference on Trade and Development (UNCTAD) have extended their partnership to facilitate international trade, particularly e-commerce in developing countries through improved exchanges of trade data. As part of the partnership, the Air Cargo messaging standards (Cargo-XML) will be integrated with ASYCUDAWorld (Automated System for Customs Data), UNCTAD’s automated customs management system. It will allow efficient processing of air cargo shipments for more than 100 countries. The next step of the collaboration will focus on enabling ASYCUDAWorld, to manage eCommerce shipments efficiently.

About International Air Transport Association (IATA)
Founded in 1945
Director General – Willie Walsh
Headquarters – Montreal, Canada
About United Nations Conference on Trade and Development (UNCTAD)
Founded in 1964
Acting Secretary General – Isabelle Durant
Headquarters – Geneva, Switzerland


NHA signs MoU with IIT Delhi to Boost India’s Response to COVID-19 Crisis

The National Health Authority (NHA) has signed a Memorandum of Understanding (MoU) with Indian Institute of Technology, Delhi (IIT Delhi) to strengthen India’s response to the COVID-19 crisis. Through the partnership, NHA & IIT Delhi will support innovative solutions, which will cater to the needs and priorities of the AB PM-JAY ecosystem (Ayushman Bharat Pradhan Mantri Jan Arogya). It will help in adopting health innovations across more than 23,000 PM-JAY empanelled hospitals. They will also help in identifying innovative healthcare solutions, and give a platform for various organisations, healthcare networks, innovation incubators, manufacturers to come together to solve complex healthcare challenges in India. NHA will act as a technical collaborator on the U.S. Agency for International Development (USAID)-supported SAMRIDH Healthcare Blended Financing Facility.

About United States Agency for Development(USAID)
Administrator – Samantha Power
Headquarters – Washington DC
About National Health Authority(NHA)
It is a government agency responsible for implementing scheme AB PM-JAY at national level
CEO: Ram Sevak Sharma

The Installed Renewable Energy Capacity of India Crossed 100 GW

The total installed renewable energy capacity in India, excluding large Hydro, has crossed the milestone of 100 GigaWatts (GW). With this, India holds 4th position in the world in terms of installed Renewable Energy (RE) capacity, 5th in solar and 4th in wind in terms of installed capacity.
Target – 100 GW achievement is considered to be part of India’s target of 450 GW of renewable energy capacity by 2030, increasing 25 GW every year and it will reach 146 GW installed RE capacity if we include large hydro projects.

About Indian Renewable Energy Development Agency (IREDA)
It is the only public sector institution which is financing and providing capital support to the RE projects in India.
Chairman & Managing Director – Pradip Kumar Das
HQ – New Delhi
About Ministry of New and Renewable Energy (MNRE)
Union Minister – Raj Kumar Singh( Lok sabha Constituency- Arrah, Bihar)
Minister of State – Bagwanth Khuba (Lok sabha Constituency – Bidar,Karnataka)

NITI Aayog Releases Handbook to Guide EV Charging Infrastructure in India

The Handbook named ‘Electric Vehicle Charging Infrastructure Implementation’ was released by NITI Aayog. The objective of the book is to provide guidance to the state governments and local bodies about policy making and setting up of norms related to charging networks for Electric Vehicle (EV). It has been developed by NITI Aayog in association with the MiniDaistry of Power (MoP), Department of Science and Technology(DST), Bureau of Energy Efficiency (BEE) and World Resources Institute(WRI) India.

About Niti Aayog
Niti Aayog stands for National Institute for Transforming India, formed by Executive action. It replaced the previous Planning Commission of India on 1st January 2015.
Chairman – Prime Minister Narendra Modi
Vice-chairman – Dr Rajiv Kumar( September 2017- present)
CEO – Amitabh Kant
About World Resource Institute (WRI)
Organisation which works with governments, institutions and civil societies it’s a Non-profit global research organisation
CEO – Andrew Steer
Headquarters – Washington DC
Founded -1982


BADLAAV Humse Hai: AU Bank unveils mega Brand Campaign and launches AU 0101

i.AU Small Finance Bank unveiled its first integrated marketing communication Campaign, titled ‘BADLAAV Humse Hai’ that will showcase the bank’s passion for innovation.

ii.It also launched its avant-garde digital banking platform AU 0101, a full-suite of banking services for its customers.
iii.It should be noted that AU roped in Bollywood actors Aamir Khan and Kiara Advani as their ambassadors.
About AU Small Finance Bank:
Establishment– 1996
MD & CEO– Sanjay Agarwal
Headquarter– Jaipur, Rajasthan
Tagline– Chalo Aage Badhein

IIFL Finance partners with FinBox to offer Digital Credit Products to Merchants

IIFL (India Infoline Limited) Finance has partnered with Bengaluru (Karnataka) and Gurugram (Haryana)-based FinBox to offer digital credit products to its merchants, B2B e-commerce traders by using FinBox’s embedded buy-now-pay-later (BNPL) and working capital credit products. As a part of partnership, IIFL and FinBox will disburse Rs 1,000 crore loans over the next 2 quarters, through a completely digital model. The key reason behind this partnership is to make the lending process entirely digital and hassle-free.

About IIFL Finance:
Chairman– Nirmal Jain
Headquarter– Mumbai, Maharashtra
About FinBox:
Chief executive officer (CEO)– Rajat Deshpande

Indian Bank signs MoU with Paralympic Committee of India

The Public Sector Bank (PSB), Indian Bank, signed a year-long memorandum of understanding (MoU) with the Paralympic Committee of India (PCI) to become one of the Banking Partners ahead of the Paralympic Games 2020 in Tokyo, Japan. In this regard, the bank will provide financial assistance to Paralympic athletes to prepare for the sporting events in domestic as well as global platforms. Notably, the Paralympic Games are scheduled to start from August 24, 2021.

About Paralympic Committee of India (PCI):
It is the authorised and sole organisation in India recognised by International Paralympic Committee (IPC) of Bonn, Germany as National Paralympic Committee (NPC) and National Sports Federation (NSF) by Govt. of India for promotion and development of Para Sports in India.
President– Deepa Malik
Headquarter– New Delhi
About Indian Bank:
Establishment– 1907
Managing Director & CEO– Padmaja Chunduru
Headquarters– Chennai, Tamil Nadu
Tagline– Your Own Bank
Amalgamated Bank– Allahabad Bank


Cricket: ICC’s Latest Test Players Rankings

According to the latest Test Players Rankings released by International Cricket Council (ICC), Indian Bowler JaspritBumrah has been ranked in the 9th Position in the bowler’s rankings, while Indian Captain ViratKohli slipped to 5th Position in the rankings for Batsmen. ShikharDhawan became the 4th fastest Batsman to reach 6000 runs in One Day Internationals. He is the 10th Indian Batsman to achieve the feat.

Kolkata to host 130th Edition of Durand Cup in September 2021

The 130th Edition of Durand Cup, an annual Domestic Football League in India, will be held in Kolkata, West Bengal (from September 5th to October 3rd of 2021). The 2020 season was cancelled due to COVID-19 pandemic. The month-long tournament will feature 16 teams playing against each other, including 4 defense teams. In 2019, Gokulam Kerala FC who won the cup in 2019 are the defending Champions.
About All India Football Federation
President – Praful Patel
Headquarters – New Delhi


Pakistan test-fires Nuclear capable Ballistic Missile ‘Ghaznavi’

Pakistan successfully test-fired the Nuclear capable Surface to Surface Ballistic Missile Ghaznavi (Hatf-III). It has a range of upto 290 Km. It is designed and developed by National Development Complex (NDC) The missile is equipped with a proper terminal guidance system and will enhance the operational readiness of Army Strategic Forces Command (ASFC) and revalidating technical parameters of the Weapon system. Other Medium Range Ballistic Missiles of Pakistan are Ghauri & Shaheen.
About Pakistan
Prime Minister – Imran Khan
Currency – Pakistani Rupee
Capital – Islamabad

Government to sell 25% stake NSC through IPO

The Government of India is set to sell around a 25% stake in National Seeds Corporation Limited (NSC) through an initial public offering (IPO). National Seeds Corporation (NSC) is a Public sector undertaking (PSU) under the Ministry of Agriculture and Farmers Welfare(MoA&FW). The Department of Investment and Public Asset Management (DIPAM), Under the Minister of Finance, has invited bids from merchant bankers and legal advisors to work on this IPO and the subsequent stock exchange listing of NSC.

Disinvestment target:
i.In February 2021, The Budget proposals for 2021-22 had set a disinvestment target of Rs 1.75 lakh crore for 2021-22 (April-March).
ii.The government has raised Rs 8,368 crore by selling stakes in Axis Bank, NMDC Ltd and Housing and Urban Development Corp (HUDCO).
About National Seeds Corporation (NSC):
NSC is under the administrative control of the Department of Agriculture, Cooperation and Farmers’ Welfare, Ministry of Agriculture and Farmers Welfare
It is wholly owned by the Government of India.
Chairman & Managing Director– Vinod Kumar Gaur
Headquarters– New Delhi
Established in March 1963

Royal Enfield CEO Vinod Dasari Resigns; B Govindarajan take over as Executive Director

Vinod K. Dasari, Chief Executive Officer(CEO) of Royal Enfield has resigned from his post with effect from 13th August 2021. He will also step down from the post of Whole Time Director of Eicher Motors Limited.

Royal Enfield is a subsidiary of Eicher Motors Ltd, an Indian multinational automotive company.
About Vinod K Dasari:
i.Vinod K Dasari has been serving as the CEO of Royal Enfield since April 2019.
Prior to his appointment as CEO of Royal Enfield.
ii.He has served as the CEO and Managing Director of Ashok Leyland since 2011. He joined Ashok Leyland as CEO in 2005.
B Govindarajan Appointed as Executive Director of Royal Enfield
B Govindarajan, the Chief Operating Officer(COO) of Royal Enfield has been appointed as the Executive Director of Royal Enfield for a period of 5 years with effect from 18th August 2021. He was also inducted as a whole-time Additional Director on the board of Eicher Motors Limited

About B Govindarajan:
i.BGovindarajan is currently serving as the COO of Royal Enfield. He joined Royal Enfield as Senior Vice President in June 2011.
ii.He has also served at various senior positions in Commercial vehicles, Railway component business and the Renewable energy sector.
About Eicher Motors Ltd:
Eicher Motors Limited is the flagship company of the Eicher Group in India
Managing Director– Siddhartha Lal
Headquarters– New Delhi
Incorporated in 1982

Indiaspora Released First of its Kind 2021 Indiaspora Philanthropy Leaders List

Indiaspora, a US-based diaspora body has released the “2021 Indiaspora Philanthropy leaders list”, a first of its kind list that recognises Indian and diaspora leaders across the globe, who have made contributions to significant philanthropic activities. The list, prepared with the guidance of nine jurors, draws data from various sources like studies, earlier verified lists, and publicly shared documents. The list features 100 business tycoons and industrialists which includes Gautam Adani, Nita Ambani and Kumar Mangalam Birla from India, Monte Ahuja, Ajay Banga and Manoj Bhargava from the United States, Soham Ajmera, Bob Dhillon and Aditya Jha from Canada and Mohamed Amersi, ManojBadale and Kuljinder Bahia from the United Kingdom.

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