Current Affairs

23 January, 2021

International

MoS MEA V Muraleedharan’s 3-day visit to UAE; Focus on Welfare of Indian Workers in UAE

i.The Minister of State (MoS) Vellamvelly Muraleedharan, Ministry of External Affairs (MEA) paid a three day visit to United Arab Emirates (UAE) from January 19, 2021 to January 21, 2021 to focus on welfare of Indian workers in UAE.
ii.He landed at the Abu Dhabi International Airport where he was received by Indian Ambassador to the UAE, Pavan Kapoor.
iii.He inaugurated the classes that offer basic lessons for improving Indian workers’ knowledge in English and Arabic languages as well as computer skills in the premises of the Delhi Private School (DPS) in Jebel Ali.
About United Arab Emirates (UAE):
Capital– Abu Dhabi
Currency– United Arab Emirates dirham

National

India Africa Trade Council 2021 inaugurated in Chennai, India

i.On January 22, 2021, the India Africa Trade Council 2021 was inaugurated in Hotel Crowne Plaza, Chennai (Tamil Nadu) for building up business relations between India and Africa.
ii.It was inaugurated by the Additional Secretary (Africa) Ambassador Nagma Mallick (IFS) Ministry of External Affairs (MEA), Govt. of India and the Ambassador of Ethiopia in India Dr Tizita Mulugeta Yimam.
iii.Ramakrishan, Founder of Corporate Clinic in Chennai was appointed as the Director of the India Africa Trade Council during the ceremony in Chennai.
About South Africa:
Capital– Pretoria (executive), Cape Town (legislative), Bloemfontein (judicial).
Currency– South African Rand (ZAR)

Kiren Rijiju Inaugurates 1st ever Khelo India Zanskar Winter Sports & Youth Festival 2021 in Ladakh

Kiren Rijiju, Minister of State (Independent Charge) of Youth Affairs and Sports inaugurated the 1st ever Khelo India Zanskar Winter Sports & Youth Festival 2021 at Padum in Zanskar of Kargil, Ladakh UT. It will take place for 13 days from January 18-30, 2021 and is organized by Ladakh’s Sports & Youth Services Department and Tourism Department under the Khelo India program.
i.The Festival is the 1st of its kind to be organized in Zanskar Valley, Ladakh.

ii.Some of the events in the Festival are Ice Climbing, trekking on frozen Zanskar River, Ice Hockey, snow sculpture & ethnic food festival.
About UT Ladakh
Lieutenant Governor– Radha Krishna Mathur
Capital– Leh, Kargil

Indian Army Signs MoU with SIDM on Indigenisation and Innovation Partnership

i.On the occasion of 25 Years of Army-Industry Partnership with Confederation of Indian Industry (CII) i.e. on January 21, 2021, Society of Indian Defence Manufacturers (SIDM), a company of CII organized a seminar on Army-industry partnership in New Delhi.
ii.The seminar marked the signing of an memorandum of understanding (MoU) between Indian Army & SIDM to accelerate indigenisation and innovation under Atmanirbhar Bharat initiative to reduce dependence on foreign origin equipment.
iii.It was signed by Director General of SIDM Sujith Haridas and Major General KV Jauhar, Additional Director General (ADG) Army Design Bureau.
iv.The seminar was virtually addressed by Chief of the Army Staff Manoj Mukund Naravane.
About Indian Army:
Chief of the Army Staff Manoj Mukund Naravane was conferred with the Honorary Chief of Nepal Army rank in November 2020.
Headquarters– New Delhi
About Society of Indian Defence Manufacturers (SIDM):
President– Jayant Damodar Patil
Headquarters– New Delhi

Economy

Small Finance Banks’ Assets Grew 150% Annually between FY18-FY20: RBI Article in Monthly Bulletin

i.In accordance with an article ‘Small Finance Banks: Balancing Financial Inclusion and Viability’ published in Reserve Bank of India’s (RBI) monthly bulletin on January 21, 2021, the assets of small finance banks (SMBs) between financial years (FY) 2017-18 and 2019-20 have grown 150% annually. Their share in total assets of the financial sector stood at 0.4% in March 2019.
ii.The article prepared by Richa Saraf and Pallavi Chavan from the RBI’s Department of Supervision provided an overview of SFB’s business between FY 2017-18 and 2019-20.
iii.There has been rapid growth in the branch network of SFBs. The number of branches of SFBs rose to 4,307 by March 2020, but they are concentrated in urban and semi-urban areas.
iv.The bad loan ratio or NPA ratio is low among the freshers of India’s financial system. Notably their NPA remained moderate inception, which states a healthy asset quality
About Reserve Bank of India (RBI):
Formation– 1 April 1935
Governor– Shaktikanta Das
Headquarters– Mumbai, Maharashtra
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao)

Sports

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Miscellaneous

HAL Successfully Test Fires Smart Anti Airfield Weapon (SAAW)

Hindustan Aeronautics Limited (HAL) successfully Test Fired the Indigenous Smart Anti Airfield Weapon (SAAW) from the Hawk-i aircraft close to the coast of Odisha.
i.It is the 1st Smart Weapon to be fired from an Indian Hawk-Mk132.
ii.It has been developed by Research Centre Imarat (RCI), Hyderabad of Defence Research and Development Organization (DRDO) under HAL’s Hawk-i Program.
iii.SAAW is a precision strike weapon of 125 kg category and has a range of 100 kms
iv.It can be used to attack enemy assets like radars, bunkers, taxi tracks and runways.
About Hindustan Aeronautics Limited (HAL):
Chairman & Managing Director – R Madhavan
Headquarters – Bengaluru, Karnataka
About RCI:
Director – Narayana Murthy

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