Current Affairs

3 July, 2021

International

International Migrant Labour rises to 169 million – ILO report

International Migrant Workforce increases to 169 million in 2019, a rise of 5-million increase in total count or 3% rise compared to the figures of 2017, as per the “ILO Global Estimates on International Migrant Workers: Results and Methodology” report released by the United Nations International Labour Organisation (ILO).

i.This is also a 12.7 % increase from the 2013 estimate of 150 million migrant workers.
ii.Increase in the international migration will contribute to the migrant’s country of origin through remittance and other economic perspectives
About International Labour Organization (ILO):
Director-General – Guy Ryder
Founded – 1919
Headquarters – Geneva, Switzerland

India to add 26 GW Hydro Projects by 2030: IEA Report

According to the ‘Hydropower Special Market Report – Analysis and forecast to 2030’ released by International Energy Agency (IEA) – India is expected to add 26 GW (or 26,000 MW) of Hydropower projects by 2030. At present, the installed capacity of the 207 hydropower projects running in India is 46,209 MW. More than 9,000 MW of large hydro projects are under construction at present. The Global hydropower capacity is set to increase by 17%, or 230 GW, between 2021 and 2030. China will remain the single largest hydropower market through 2030, accounting for 40% of the global capacity growth in the Hydropower sector. This is the 1st ever IEA market report dedicated exclusively to hydropower.
About International Energy Agency (IEA)
Executive Director – Dr Fatih Birol
Headquarters – Paris, France

7th Indian Ocean Naval Symposium held at La Reunion Concludes

The 7th edition of Indian Ocean Naval Symposium (IONS), took place from 28 June to July 1, 2021 at La Reunion, an island in the Indian Ocean east of Madagascar, which is an overseas department of France. It was hosted by the French Navy, France had assumed the Chairmanship of IONS on 29 June 2021, for a 2-year tenure. From the Indian side – Admiral Karambir Singh, Chief of the Naval Staff, Indian Navy virtually participated in the event. IONS is a series of biennial meetings between the Littoral States of the Indian Ocean Region (IOR). It provides a forum to increase maritime security cooperation,discuss regional maritime issues, and promote friendly relationships among the member states.
About Indian Ocean Naval Symposium (IONS)
2021 Chair – France
Members – 24 & 8 Observers
Established – 2008

National

AJNIFM Partners with Microsoft to build Centre of Excellence with AI, Emerging Tech

Arun Jaitley National Institute of Financial Management (AJNIFM) made a strategic partnership and signed a Memorandum of Understanding (MoU) with Microsoft to build a Centre of Excellence at AJNIFM, enabled with AI (Artificial Intelligence) and emerging technologies. The partnership mainly intends to transform the public finance management, expenditure management in India and prevent revenue leakages and money laundering by exploring the role of cloud, AI, and emerging technologies.

Centre of Excellence: To develop a Centre of Excellence at AJNIFM to incorporate the ideas of AI in finance management across key associated ministries of AJNIFM. It will serve as a central body for research(AI-based) and tech-led innovation. They will organize strategic knowledge-sharing workshops and develop research papers along with industry experts to analyse the role of cloud, data and AI to reform public finance management.

About Arun Jaitley National Institute of Financial Management (AJNIFM):
Establishment – 1993, as a registered society under Ministry of Finance, Government of India.
Headquarters – Faridabad, Haryana
President of AJNIFM Society – Union Finance Minister (Current – Nirmala Sitharaman)

CMPDI and CCL inked MoA for Development of Solar Power Project

A Memorandum of Association (MOA) was inked between the subsidiaries of Coal India Limited (CIL) i.e. Central Mine Planning & Design Institute (CMPDI) and Central Coalfields Ltd (CCL) for the development of Solar Power Projects. This MoA aims to make CIL a Net Zero Energy company, as mandated by the Ministry of Coal. CIL currently has 8 subsidiaries.

Signatories: It was signed by Ajoy Kumar Singh, General Manager (Electrical & Mechanical-E&M), CMPDI and VK Singh, General Manager (E&M), CCL in the presence of Satendra Kumar Gomasta, Director (Technical/Coal Resource Development)), CMPDI and Manoj Kumar, Regional Director, RI-III, CMPDI.
Point to be noted:
CIL is all set for the formation of 14 rooftop and ground-mounted solar power projects of 3,000 megawatt (MW) capacity by 2024 at an estimated investment of Rs 13,500 crore.
About Central Mine Planning & Design Institute (CMPDI):
It is a Mini Ratna Company initiated in 1973.
Chairman-cum-Managing Director– Manoj Kumar
Headquarter– Ranchi, Jharkhand
About Central Coalfields Ltd (CCL):
It is a Mini Ratna Company initiated in 1975 as NCDC Limited.
Chairman-cum-Managing Director– PM Prasad
Headquarter– Ranchi, Jharkhand

FIEO signs MoU with Aramex India to Support MSME Exporters in India

In order to support Indian Micro, Small and Medium Enterprise (MSME) exporters with access to cost-efficient, seamless and reliable logistics solutions, the Federation of Indian Export Organisations (FIEO) signed a Memorandum of Understanding (MoU) with Aramex India As part of the MoU, Aramex will provide preferential pricing and online services for cross-border express shipments to FIEO members. On the other hand, this MoU will aid FIEO to reach cottage industries, artisans, house-wives, youths, MSMEs and clusters and raise awareness about adapting the export scenario.

About Federation of Indian Export Organisations (FIEO):
Director General & CEO– Dr Ajay Sahai
President– Sharad Kumar Saraf
Headquarter- New Delhi
About Aramex:
It is a multinational logistics, courier and package delivery company based in Dubai, United Arab Emirates.
Chief Executive Officer (CEO)– Othman Aljeda
Headquarter– Dubai, United Arab Emirates (UAE)

Ramesh Pokhriyal releases Report on UDISE+ 2019-20 for School Education

Union Minister for Education Ramesh Pokhriyal ‘Nishank’ released the report on ‘United District Information System for Education Plus (UDISE+) 2019-20’ for School Education in India. It is the official statistics system of the Ministry of Education (MoE). Gross Enrolment Ratio (GER) has improved at all levels of school education in 2019-20 compared to 2018-19. Pupil Teacher Ratio (PTR) has also increased at all levels of school education. Enrolment of girls from primary to higher secondary is more than 12.08 crore, an increase of 14.08 lakh compared to 2018-19.

About Ministry of Education (MoE)
Union Minister – Ramesh Pokhriyal ‘Nishank’ (Haridwar, Uttarakhand)
Minister of State – Sanjay Shamrao Dhotre (Akola, Maharashtra)

Economy

GIFT City collaborated with BRTSIF to enhance Fintech Innovation

Gujarat International Finance Tec-City (GIFT City) has collaborated with BIL Ryerson Technology Startups Incubator Foundation (BRTSIF) to enhance fintech innovation. In this regard, Zone Startups India, a part of BRTSIF, will pursue ways to set up and promote a fintech hub in GIFT-SEZ (Special Economic Zone). This partnership will also support the Government of India’s vision for entrepreneurship development and innovation at GIFT.

About Gujarat International Finance Tec-City (GIFT City):
Managing Director (MD) and Chief Executive Officer (CEO)– Tapan Ray
Headquarter– Gandhinagar, Gujarat
About Zone Startups:
Managing Director (MD)– Hemant Gupta
Headquarter– Mumbai, Maharashtra

Enroute Technologies Launched OmniCard – a Prepaid Card for Youngsters

After receiving the authorization from the Reserve Bank of India (RBI) to issue and operate Prepaid Payment Instrument (PPI), Eroute Technologies, a fintech company, has launched ‘OmniCard – a prepaid card for youngsters’ aged between 15-24 years. This is the 1st PPI launched by a non-bank payment system operator in India after the RBI allowed them to include more features into prepaid cards, bringing them on a par with payment banks. The OmniCard is powered by RuPay and it offers secure payment integrated with both online and offline payment options. The company is targeting to reach 230 million youth.

About Eroute Technologies:
Headquarters – Noida, Uttar Pradesh
Co-founder, MD & CEO – Sanjeev Pandey

LIC Launched ‘Saral Pension Plan’

the Life Insurance Corporation (LIC) of India launched a non-linked, non-participating, single premium, individual ‘immediate annuity plan’ named ‘Saral pension plan’ as per the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI). The plan allows policyholders to pay a lump sum amount as the purchasing price of the plan and to receive a fixed amount of money at regular intervals.
About Life Insurance Corporation (LIC):
Establishment -1956
Headquarters – Mumbai, Maharashtra
Chairman -M R Kumar

RBI Extended Interest Subsidy Scheme for Exporters till September 2021

The Reserve Bank of India (RBI) reported the Government of India’s(GoI) approval for the extension of the ‘Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit’ for 3 months, i.e., up to September 30, 2021. The extant operational instructions that are issued by RBI under the Scheme were also extended to remain in force up to September 30, 2021. The scheme was started on April 1, 2015, to provide subsidies to exporters on interest provided on pre-and post-shipment export credit. Under the scheme, in November 2018, GoI increased the Interest Equalisation rate from 3 percent to 5 percent in respect of exports by the Micro, Small & Medium Enterprises (MSME) sector manufacturers and extended the benefit of the scheme to all eligible MSME Exporters.

RBI’s 23rd FSR 2021: Banks GNPA may Rise to 9.8% by March 2022

Reserve Bank of India (RBI) released the 23rd issue of its bi-annual Financial Stability Report (FSR) 2021. It estimated the Scheduled Commercial Banks (SCBs) Gross Non-Performing Assets (GNPAs) to rise by 9.8 percent in March 2022 (as per the baseline scenario), from 7.48 percent in March 2021. GNPAs in March 2022 is estimated to be 11.22 percent as per the severe stress scenario. The report stated economic recovery in May and early June 2021. FSR: It is the bi-annual collective assessment of the ‘Sub-Committee of the Financial Stability and Development Council’ (FSDC-SC) on risks to financial stability. The current report was based on RBI’s macro stress tests covering the Second Half-yearly(H2) (October – March) FY21.

Sports

Indian-origin Abhimanyu Mishra becomes youngest-ever Chess Grandmaster in history

Abhimanyu Mishra, a 12-years old Indian-origin boy, became the youngest ever Grandmaster in Chess on June 30, 2021. Abhimanyu, from New Jersey, broke the record of 12 years and 7 months set by GM Sergey Karjakin in 2002.

Abhimanyu Mishra at the age of 12 years, 4 months, and 25 days picked up his third GM norm in Budapest after having already crossed the 2500 Elo rating barrier. He achieved the feat at the Vezerkepzo Grandmaster mix tournament in Budapest, Hungary.

Abhimanyu secured a performance rating higher than 2600 over nine rounds, which also constitutes a GM norm. Having stayed in Budapest, he won his first GM norm in the April Vezerkepzo tournament and the second at the May 2021 First Saturday tournament.

Indian Men and Women Hockey teams remain at 4th & 10th in FIH rankings

In the recent rankings released by the International Hockey Federation (FIH), the positions of Indian Men’s and Women’s Hockey teams remain unaltered at 4th and 10th position respectively.
i.Australian Men’s team moved up to the top position, while Netherlands Women Team remains at the Top position in the World Hockey Rankings.

Miscellaneous

OneWeb Launches 36 Satellites into Orbit

36 Broadband Satellites of OneWeb (a venture backed by Bharti Airtel) were launched into orbit by a Soyuz rocket from Vostochny Cosmodrome in Siberia, Russia. The launch of the satellites will enable it to provide commercial internet services in areas of the Northern Hemisphere (areas north of 50th Degree Latitude) by the end of 2021. UK, Alaska, Northern Europe, Greenland, Iceland, Continental US, the Arctic Seas and Canada are the countries/regions which have been covered. This mission was the OneWeb 8, the eighth OneWeb launch since the first satellites launched in 2019, and will bring the total number of satellites in OneWeb’s blooming internet constellation up to 254.
About OneWeb
CEO – Neil Masterson
Executive Chairman – Sunil Bharti Mittal
Headquarters – London, United Kingdom

3-new Asteroids discovered by Indian Teacher-Student duo in IASC Citizen Science Programme

3-new asteroids were discovered by Bala Bharathi, Principal of Bharathi Matriculation Higher Secondary School, and G. Aazhimukilan, B.Sc. Physics student from St. Joseph’s College from Trichy, Tamil Nadu. The discovery was a part of the International Astronomical Search Collaboration (IASC) Citizen Science Programme, organised by National Aeronautics and Space Administration (NASA).
i.The 3 asteroids were temporarily named as BBM2101, BBM2102, and BBM2103.
ii.IASC’s International Asteroid Search Campaign promotes common citizens to develop a knowledge of Astronomical science by letting them identify new asteroids.
Procedure used:
Participants were provided with images from space telescope in Hawaii, to identify the possible moving objects
A special software called “Astronomica” will be used by participants to further track the potential asteroids
About NASA:
Established – 1958
Headquarters – Washington, D.C., United States
Administrator – Bill Nelson

Gita Gopinath, Kamlesh Lulla among 34 Immigrants to be Honoured by US Foundation

International Monetary Fund’s (IMF) Chief Economist Gita Gopinath & National Aeronautics and Space Administration (NASA) Scientist Kamlesh Lulla have been named among the ‘2021 Great Immigrants’ honourees named by the Carnegie Corporation of Network, a US-based non-profit organisation. A total of 34 immigrants representing 30 countries of origin have been named in the Class of 2021. The 2021 Class of Immigrants marks the 16th class of Great Immigrants. They will be recognised with a full-page public service announcement in the New York Times on the US Independence Day on July 4 and through a social media campaign. Each year, the foundation honours naturalised citizens of the US, who have enriched and strengthened the US society and democracy through their contributions and actions.

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