Current Affairs

2 October, 2021

International

NTPC REL signs 1st Green Term Loan Pact of Rs 500 cr with Bank of India

the NTPC Renewable Energy Ltd. (REL) signed its first Green Term Loan (GTL) agreement of Rs 500 crores with Bank of India (BoI) for a period of 15 years. The loan will be used for the development of 470 MW (Mega Watt) solar project in Rajasthan and 200 MW solar project in Gujarat. A green loan is a type of loan instrument enabling borrowers to finance environmental projects.

Signatories:
It was signed in the presence of NTPC Director (Finance) Anil Kumar Gautam, Chandan Kumar Mondal, Chairman of NTPC REL; and Mohit Bhargava, Chief Executive Officer (CEO), NTPC REL and senior officials from Bank of India.
About Bank of India (BoI):
Managing Director & CEO– Atanu Kumar Das
Headquarter– Mumbai, Maharashtra
Tagline– Relationship beyond banking

Indel Money ties up with IndusInd Bank for 1st Gold Loan co-lending Partnership

A first-of-its-kind conventional gold loan co-lending partnership has been generated between a Non-Banking Financial Company (NBFC), Indel Money, and a commercial bank i.e. IndusInd Bank. Under this tie-up, IndusInd Bank will offer gold loans at competitive rates to its customers, which will be processed by Indel Money on mutually formulated credit parameters and eligibility criteria. 80% of gold loans will be funded by IndusInd Bank while the remaining 20% will be funded by Indel Money.

About Indel Money:
Executive Director & CEO– Umesh Mohanan
Headquarter– Mumbai, Maharashtra
About IndusInd Bank:
Managing Director & CEO– Sumant Kathpalia
Headquarter– Pune, Maharashtra
Tagline– We Make You Feel Richer

National

Govt Extended the Validity of ECLGS till March 31, 2022

To support the various businesses impacted by the second wave of COVID 19, the government has decided to extend the timeline of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 31, 2022, or till guarantees for an amount of Rs 4.5 lakh crore are issued under the scheme, whichever is earlier. The last date of disbursement under the scheme was also extended to June 30, 2022. Since its launch, ECLGS has extended relief to over 1.15 crore Micro, Small and Medium Enterprises (MSMEs) and businesses for meeting their operational liabilities and restarting their businesses that were affected by COVID-19. As of 24th September 2021, loans sanctioned under ECLGS have crossed Rs. 2.86 lakh crore and out of which, about 95 percent of the loans were issued for MSMEs.
About Ministry of Finance:
Union Minister – Nirmala Sitharaman (Karnataka)
Minister of State (MoS) – Pankaj Chaudhary (Maharajganj, Uttar Pradesh), Bhagwat Kishanrao Karad (Constituency – Maharashtra)

Indian & Australian Navies signs ‘Terms of Reference’ to conduct Navy to Navy talks

Indian Navy signed the ‘Terms of Reference’ (ToR) with the Royal Australian Navy to conduct Navy to Navy (N2N) talks under the framework of the ‘Joint Guidance for the India – Australia Navy to Navy Relationship’ document signed by the Navies in August. Notably, this is the 1st time the Indian Navy has signed such an agreement with another country. The inaugural Navy-to-Navy Talk between India & Australia was held in 2005.

Signatories:
The signing ceremony was held virtually between Rear Admiral Jaswinder Singh, ACNS (FCI), IN and Rear Admiral Christopher Smith, DCNS, RAN.

About Indian Navy:
Chief of Naval Staff (CNS) – Admiral Karambir Singh
Founded – 26 January 1950
About Australia:
Prime Minister – Scott Morrison
Capital – Canberra
‘AUSINDEX’ is an annual bilateral Military Exercise between India & Australia

Bhupender Yadav launched ‘DigiSaksham’ in collaboration with Microsoft India to boost Youth Employment

i.As a move to further extend the Central Government’s effort of supporting youth from rural and semi-urban areas, on September 30, 2021, Union Minister Bhupender Yadav, Ministry of Labour and Employment launched DigiSaksham in collaboration with Microsoft India.
ii.It aims to enhance youth employment opportunities in these areas by imparting digital skills.
iii.Microsoft India has also roped in Aga Khan Rural Support Programme-India and its knowledge partner TMI e2E Academy for rolling out this initiative.
About Ministry of Labour & Employment (MoL&E):
Bhupender Yadav Constituency– Constituency – Rajasthan
Minister of State– Rameswar Teli (Constituency – Dibrugarh, Assam)

Economy

AU SFB, NABARD collaborates to boost rural development in Rajasthan

Private sector AU Small Finance Bank (SFB) signed a pact with the National Bank for Rural and Development (NABARD) to boost ongoing rural development initiatives in Rajasthan.

Objective
i.The initiatives will benefit farmers, Farmer Producer Organisations (FPOs), Self Help Groups (SHGs), rural artisans, agri-entrepreneurs, and agri-startups in the State.
ii.The partnership helps to improve the rural prosperity of the state by various ongoing initiatives and lending facilities.
iii.This lending facilities would enhance the agriculture and rural development in the state.
About NABARD
It stands for National Bank for Rural and Development
Chairman: Dr G R Chintala
Founded In – 1982
Headquarters: Mumbai, Maharashtra
About AU Small Finance Bank
Managing director & CEO: Sanjay Agarwal
Headquarters: Jaipur, Rajasthan

AIIB Grants USD 356.67 mn Loans for Chennai Metro; India Becomes Largest Beneficiary of AIIB

The Asian Infrastructure Investment Bank (AIIB) will provide loan assistance of USD 356.67 million(~Rs.2.65 lakh Crore) for the expansion of Chennai Metro Rail system, Tamil Nadu (TN), India. With this Investment, AIIB has invested a total of USD 6.7 billion making India its largest beneficiary.

Chennai Metro Rail Project:
i.AIIB will invest in the phase 2 of the project that involves construction of a new corridor in Chennai’s Metro Network.The project is aligned with AIIB’s mandate to support high-quality and sustainable infrastructure.
ii.It will promote integrated economic and transport sector growth in Chennai. It will also reduce greenhouse gas (GHG) emissions which further led to reducing carbon footprint
iii.The metro project will span from Lighthouse in the east to Poonamallee Bypass in the west to ensure seamless multimodal transport across Chennai by providing integrated access to suburban rail, bus stations and the city’s main airport.
iv.The station will be equipped with rooftop solar panels, which promotes green economic growth in the city. The project also integrates climate change resilience features to reduce its vulnerability to climate-related events.
About Asian Infrastructure Investment Bank (AIIB)
Headquarters- Beijing, China
Member – 103 members ( 2021)
Commenced Operation- 2016
President- Jin Liqun

Sports

Lewis Hamilton: First F1 driver to win 100 Grands Prix

Lewis Hamilton has become the first ever Formula-one driver who reached to his 100 wins after finishing at first in the Russian Grand Prix on September 26, 2021. Key Points Lewis Hamilton, the seven-time World Champion, overtook the long-time race leader Lando Norris late on. Norris, was aiming for a maiden Grand Prix victory.

The National Basketball Association (NBA) named Bollywood superstar Ranveer Singh as the NBA Brand Ambassador for India to help grow the league’s profile in India throughout its landmark 75th Anniversary Season in 2021-22. With this collaboration, Ranveer Singh will participate in a number of league initiatives that will be featured on NBA India’s and his personal social media accounts. He will attend NBA All-Star 2022 in Cleveland, where he will meet NBA players and legends. NBA is a global sports and media business built around four professional sports leagues: the National Basketball Association, Women’s National Basketball Association, the NBA G League and the NBA 2K League. Ranveer will also be featured on “NBA Style” (@nbastyle_in), a new lifestyle-focused Instagram account for fans in India. Piramal Pharma ropes in Kareena Kapoor to endorse baby products Piramal Pharma Limited’s consumer products division has appointed Kareena Kapoor as brand ambassador for its brand Little’s – Baby Wipes and Little’s Comfy Baby Pants. As part of the collaboration, she will endorse baby products of the company. About Piramal Pharma Limited Headquarters: Mumbai, Maharashtra Chairman: Ajay Piramal About National Basketball Association (NBA) It is a professional basketball league in North America Commissioner: Adam Silver Headquarters: New York, United States

The Indian men’s table tennis team has won bronze medal at the Asian Table Tennis Championships on October 1, 2021. Highlights Indian team won bronze after losing to South Korea by 0-3 in the semi-finals. Team was assured of winning a medal after beating Iran by 3-1 in the quarterfinals on September 29.

Miscellaneous

NBA names Ranveer Singh as Brand Ambassador for India

The National Basketball Association (NBA) named Bollywood superstar Ranveer Singh as the NBA Brand Ambassador for India to help grow the league’s profile in India throughout its landmark 75th Anniversary Season in 2021-22. With this collaboration, Ranveer Singh will participate in a number of league initiatives that will be featured on NBA India’s and his personal social media accounts. He will attend NBA All-Star 2022 in Cleveland, where he will meet NBA players and legends. NBA is a global sports and media business built around four professional sports leagues: the National Basketball Association, Women’s National Basketball Association, the NBA G League and the NBA 2K League. Ranveer will also be featured on “NBA Style” (@nbastyle_in), a new lifestyle-focused Instagram account for fans in India.

Piramal Pharma ropes in Kareena Kapoor to endorse baby products
Piramal Pharma Limited’s consumer products division has appointed Kareena Kapoor as brand ambassador for its brand Little’s – Baby Wipes and Little’s Comfy Baby Pants. As part of the collaboration, she will endorse baby products of the company.

About Piramal Pharma Limited
Headquarters: Mumbai, Maharashtra
Chairman: Ajay Piramal
About National Basketball Association (NBA)
It is a professional basketball league in North America
Commissioner: Adam Silver
Headquarters: New York, United States

Padmaja Chunduru appointed as MD & CEO of NSDL

In September 2021, the Securities & Exchange Board of India (SEBI) gave approval for the appointment of Padmaja Chunduru as the new Managing Director (MD) & Chief Executive Officer (CEO) of the National Securities Depository Limited (NSDL). She will succeed GV Nageswara Rao after his superannuation.
i.Padmaja Chunduru served as the MD and CEO of Indian Bank for 3-year before her term ended in August 2021.
Other notable positions held by her, Deputy Managing Director (Digital Banking) of State Bank of India. Director in Life Insurance Corporation of India. She served as the country head of US operations at SBI from 2014 to 2017 in New York. She also served as the non-executive chairperson (nominee director) of Universal Sompo General Insurance Company Ltd.
About National Securities Depository Limited (NSDL):
Established – 1996
Headquarter – Mumbai, Maharashtra

Najla Bouden Romdhane Became First Woman Prime Minister of Tunisia

Tunisia’s President Kais Saied has appointed Najla Bouden Romdhane as the first woman Prime Minister of Tunisia. She succeeds Prime Minister Hichem Mechichi who served as the Prime Minister of Tunisia, from 2020 to 2021.
About Najla Bouden Romdhane
i.Romdhane was born in Tunisia’s central Kairouan province in 1958.
ii.She is a geology professor at the National School of Engineers in Tunis.
iii.She was assigned by the Ministry of Higher Education and Scientific Research to implement programmes with the World Bank.
iv.She previously served in the education ministry in 2011.
Political Crisis:- Anti-government protests stemming in part from the COVID-19 pandemic resulted in parliament suspension and dismissed Prime Minister Hichem Mechichi. President Kais also froze the activities of the parliament led by the moderate Islamist Ennahda party due to the emergency act needed in Tunisia.

About Tunisia Parliament: –
i.Assembly of the People’s Representatives is Tunisia’s legislative branch of government. The legislature consists of 217 seats.
ii.Tunisia’s electoral law requires “vertical gender parity”, a male and female candidates must alternate within each party’s regional list of candidates.
About Tunisia
Tunisia, officially the Republic of Tunisia, is the northernmost country in Africa.
Capital – Tunisi
Currency – Tunisian dinar

Mukesh Ambani Tops IIFL Wealth Hurun India Rich List 2021

Hurun India and IIFL Wealth had jointly released the ranking report ‘IIFL Wealth Hurun India Rich List 2021’,a 10th annual ranking of the richest individuals in India.64 years old Mukesh Ambani, the chairman of Reliance Industries(RIL) tops the list for 10th consecutive year. Ambani was followed by Gautam Adani, Adani Group, and Shiv Nadar of HCL for the second and third spot of the 2021 list. The Hurun’s 10th year anniversary logo is inspired by the Sanskrit word “Veerya”,meaning energy.

i.Mumbai tops the list with 255 individuals followed by New Delhi (167) and Bengaluru (85).Chennai overtook Ahmedabad at 5th place.
ii.Shashvat Nakrani from New Delhi, 23, of Payment App Bharatpe is the youngest self-made individual.
iii.Smita V Crishna,70, Third-generation inheritor of Godrej is India’s richest woman, whilst ‘Biotech Queen’ Kiran Mazumdar-Shaw, 68, is the richest self-made Indian woman.
iv.Neha Narkhede aged 36, Co-founder of confluent is youngest self-made woman entrepreneur in India.

Rank Name Company
1 Mukesh Ambani & family Reliance Industries
2 Gautam Adani & family Adani
3 Shiv Nadar & family HCL
4 SP Hinduja & family Hinduja
5 LN Mittal & family ArcelorMittal
About Hurun India :-
Launched in – 2012
Managing Director – Anas Rahman Junaid
Five core pillars of Hurun India Reports are: Wealth Creation, Value Creation, Sustainability and Philanthropy, Art and Lifestyle and Luxury
About IIFL Wealth Management Limited
MD & CEO – Karan Bhagat
Founded in – 2008
Headquarters – Mumbai, India

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