Current Affairs

5 November, 2021

International

118 Indian universities in 2022 QS World University Rankings: Asia; Singapore’s NUS Tops

i.QS (Quacquarelli Symonds) released 2022 QS World University Rankings: Asia featuring 118 Indian Universities following China with 126 universities.
ii.The ranking has been topped by National University of Singapore (NUS) for the 4th year in a row. It is followed by China’s Peking University at 2nd position, and Nanyang Technological University in Singapore and the University of Hong Kong in Hong Kong at 3rd rank.
iii.Indian Institute of Technology Bombay (IITB) (42nd regionally) and IIT Delhi (45th regionally) are the only two Indian institutions among the Top-50. IIT Madras, which was in 50th place last year, has lost four places and now ranks 54th.
About Quacquarelli Symonds (QS):
It is the world’s leading provider of services, analytics, and insight to the global higher education sector. It has been providing university rankings since 2004.
Headquarters– London, UK
Director of Research– Ben Sowter

Air Forces of India and Egypt Conducts Joint Exercise
Air forces of India and Egypt conducted a two-day exercise ‘Desert Warrior’ at El Beringat airbase, Egypt to enhance mutual understanding and share operational experience. The exercise, called ‘Desert Warrior’, was conducted on October 30 and October 31, the Indian Air.

National

Ministry of Rural Development signs MoU with Flipkart to aid DAY-NRLM

i.In order to empower local businesses and self-help groups (SHGs) through Central Government’s Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM) program, the e-marketplace Flipkart has signed a Memorandum of Understanding (MoU) with the Ministry of Rural Development (MoRD) on November 2, 2021.
ii.Under this MoU, these businesses, especially led by women, will utilize Flipkart’s e-commerce platform to sell their products to its 10 crore customers.
About Ministry of Rural Development (MoRD):
Union Minister Giriraj Singh Constituency– Begusarai (Bihar)
MoS Sadhvi Niranjan Jyoti Constituency– Fatehpur (Uttar Pradesh)

MoS Faggan Singh Kulaste Constituency– Mandla (Madhya Pradesh)Home Minister Amit Shah Launched Pan-India Health Cards Scheme for CPPF – ‘Ayushmaan CAPF’

The Union Home Minister and Minister of Cooperation, Amit Shah launched the health cards scheme for CAPF (Central Armed Police Forces) personnel and their dependents, named ‘Ayushmaan CAPF’ at the national level in New Delhi.
About Ministry of Home affairs:
Union Minister – Amit Shah (Constituency – Gandhi Nagar, Gujarat)
Minister of State – Ajay Kumar Mishra (Kheri, Uttar Pradesh), Nityanand Rai (Constituency – Ujiarpur, Bihar), Nisith Pramanik (Constituency – Coochbehar, West Bengal)

Economy

TCI cold chain form Joint Venture with Japan’s Mitsui

TCI Cold Chain Solutions (TCI CCS), a unit of Transport Corporation of India (TCI) and Japan’s Mitsui & Co Limited are entered into a joint venture to meet the growing demand for temperature controlled logistics solutions. TCI has sold a 20% stake in its cold chain business to Japanese company Mitsui & Co for INR 63.5 crore. Mitsui and TCI are 51:49 partners in a joint venture called Transystem International Ltd., a logistics solution provider for Japanese automotive companies in India.

Objective
To scale-up and build a robust cold chain infrastructure in India.
About Transport Corporation of India (TCI)
Managing Director: Vineet Agarwal
Founded: 1958
Headquarters : Gurugram, Haryana

Almost 80 % of the Economy is now Formal after COVID Digitisation Drive

The digitisation drive and pandemic situation of the gig economy have led to a faster formalisation of the economy. Compared to 2018 the share of the informal sector shrunk from 52.4 per cent to just 15-20 per cent in 2020-2021. The real GDP in FY21 was stood at Rs 135.13 lakh crore, but lost 7.3 per cent in FY22 after the worst economic contraction ever recorded due to the epidemic.

About State Bank of India (SBI)
Establishment – 1st July, 1955
Chairman – Dinesh Kumar Khara
Headquarters – Mumbai, Maharashtra
Tagline – The Banker to Every Indian

TIIC, SIDM, CII sign agreement to facilitate defence manufacturing in MSMEs

A Memorandum of Understanding (MoU) was signed between the Tamil Nadu Industrial Investment Corporation Limited (TIIC) Limited, the Society of Indian Defence Manufacturers (SIDM) and the Confederation of Indian Industries (CII) to catalyze and facilitate defence manufacturing in the MSME (Micro, Small & Medium Enterprises) sector. The MoU was signed in the presence of Tamil Nadu’s (TN) Industries Minister Thangam Thennarasu.

Need behind this partnership:
To address the needs of the MSME sector in meeting the defence indigenization and manufacturing requirements, skillset development, infrastructure buildup and investment promotion in defence manufacturing in TN. This partnership will also cater to the target of making TN a $1 trillion GDP (Gross Domestic Product) economy by 2030 which is set by its Chief Minister Muthuvel Karunanidhi Stalin.

Participants during MoU Signing:
TIIC Chairman and Managing Director (CMD) Hans Raj Verma; CMD, Tamil Nadu Industrial Development Corporation Limited (TIDCO), Pankaj Kumar Bansal; Chairman SIDM, Jayanta D Patil; Chairman, CII – Tamil Nadu State Council S. Chandrakumar; SIDM Director General Sunil K Mishra, among others.
About Confederation of Indian Industries (CII):
Director General– Chandrajit Banerjee
Headquarters– New Delhi

BSE Join Hands with HDFC to Promote Start-up’s and SMEs

Bombay stock exchange (BSE) collaborated with HDFC Bank and signed a Memorandum of Understanding (MoU) to promote and encourage the Small and Medium Enterprises (SME) and also listing of Start-ups. The collaboration helps the SMEs and Startups to get-in touch with accountants, Lawyers and Bankers in the list of BSE. The collaboration resolves financial constraints for the startups and SMEs and creates sustainability. Through this MoU, HDFC and BSE shall evaluate banking and lending solutions for startups and SMEs.

Note
i.HDFC is committed to develop, focus and encourage startups as they are reshaping the future world at present.
ii.BSE is the first stock exchange to get approval from The Securities and Exchange board of India (SEBI) to launch the SME platform on 13th March 2012.
iii.So far, BSE has listed about 353 companies and raised 3731.81 crores from the market as capitalization.
About Bombay stock exchange (BSE):
Establishment – 1875
Managing Director (MD) & Chief Executive Director (CEO) – Ashishkumar Chauhan
Headquarter – Mumbai, Maharashtra
About HDFC Bank:
Establishment -1994
MD & CEO – Sashidhar Jagdishan
Headquarters – Mumbai, Maharashtra
Tagline– We understand your world
Chatbot – Eva

ADB Approved $61 Million Loan for Urban Development in Agartala

The Asian Development Bank (ADB) has approved a $61 million(~INR 453 Crore) loan under ‘Agartala City Urban Development Project’ to improve livability, harness technology, and promote new developments to accommodate the expanding population in the city of Agartala, Tripura.

About Agartala:
i.Agartala, the capital and largest city in Tripura was represented as one of the fastest-developing cities in India by ADB.
ii.Strategic Location: Agartala is located near the Bangladesh–Bhutan–India–Nepal economic corridor hence it has the potential to become an economic–commercial hub for northeast India.
iii.The city is also Tripura’s gateway for tourism.
About Asian Development Bank (ADB):
Establishment– 1966
President – Masatsugu Asakawa
Headquarters –Mandaluyong, Metro Manila, Philippines
Members – 68 (49 from the Region)

RBI Issues Revised PCA framework for Banks

The Reserve Bank of India (RBI) reviewed and revised the existing PCA framework for all Scheduled Commercial Banks (SCBs) excluding Small Finance Banks, Payment Banks and Regional Rural Banks.

Under the revised framework, Capital, Asset Quality and Leverage will act as the key areas for monitoring. (Capital, Asset quality and Profitability were the key areas for monitoring in 2017’s framework). The provisions of the revised PCA Framework will be effective from January 1, 2022.

About PCA Framework:
i.PCA is a framework under which banks with weak financial metrics are put under watch by the Reserve Bank of India (RBI). Under the Framework, the supervised Entity will be required to initiate and implement remedial measures in a timely manner to restore its financial health.
ii.The RBI introduced the PCA framework in December 2002 as a structured early-intervention mechanism to supervise and regulate the banks that become undercapitalised due to poor asset quality, or vulnerable due to loss of profitability.
iii.The regulations were later revised in April 2017.

Sports

Rahul Dravid appointed as head coach of Team India

Rahul Dravid was appointed as the head coach of Team India (Senior) on November 3, 2021. He was unanimously chosen for the post by the Cricket Advisory Committee comprising Sulakshana Naik and RP Singh.
The former India skipper will take charge of the Indian cricket team from the upcoming home T20 series against New Zealand.

Miscellaneous

Union Minister Dr Jitendra Singh Inaugurated 650 Teraflops Supercomputing Facility at NABI & i-RISE, TBI at Mohali

Dr Jitendra Singh, Union Minister of State (Independent Charge) Science & Technology, inaugurated the advanced 650 teraflops supercomputing facility at National Agri-Food Biotechnology Institute (NABI) at Mohali, Punjab. He also stated that the government of India will identify and promote 75 innovative Start-Ups in the 75th year of India’s independence. This supercomputing facility will act as a facilitator for the 75 innovative Start-Ups working in areas like Telemedicine, Digital Health, mHealth with BIG Data, AI, BlockChain and other technologies.

Union Minister Dr Jitendra Singh Inaugurated i-RISE, TBI at Mohali:
Union Minister Dr Jitendra Singh has also inaugurated i-RISE, Technology Business Incubator (TBI) at Mohali which will provide world-class research facilities for start-ups in India.
This TBI in Mohali will be in the league of the other startup hubs in Bengaluru and Gurugram.
About Ministry of Science & Technology(MoS&T):
Union Minister of State(IC)– Dr Jitendra Singh (Constituency- Udhampur, Jammu and Kashmir)

IREDA launches ‘Whistle Blower’ portal to raise Complaint on Corruption

The Indian Renewable Energy Development Agency Ltd (IREDA), a PSU (Public Sector Undertaking) under the Ministry of New & Renewable Energy (MNRE), launched a ‘‘Whistle-blower Portal’’, as a part of ‘Vigilance Awareness Week 2021’ celebrated from 26th October to 2nd November 2021.
Objective – It provides facilities to the employees of IREDA to file complaints related to fraud, corruption, abuse of power etc.
i.The portal is a part of IREDA’s “Zero tolerance” of corruption policy. It will also enhance good and responsible governance.
ii.The portal was launched by Pradip Kumar Das, Chairman & Managing Director (CMD) of IREDA and Dr. Praveen Kumari Singh, Additional Secretary, Central Vigilance Commission (CVC). It is developed by the Information Technology (IT) team of IREDA. The latest issue of Vigilance journal ‘Pahal’ was also released

Note – Theme of the ‘Vigilance Awareness Week 2021- ‘‘Independent India @75: Self Reliance with Integrity’’.
About CVC (Central Vigilance Commission)

The CVC was set up by the Government in February, 1964 on the recommendations of the Committee on Prevention of Corruption, headed by Shri K. Santhanam.

CVC Commissioner: Suresh N Patel
About IREDA ( Indian Renewable Energy Development Agency)
Chairman and Managing Director: Pradip Kumar Das
Headquarters : New Delhi
Founded: 11 March 1987

CCI Approves HDFC Life’s 100% Acquisition of Exide Life

The Competition Commission of India (CCI) gave the approval to HDFC Life Insurance Company for acquiring 100% shareholding of Exide Life Insurance Limited under Article 31 (1) of the Competition Law of 2002. After the completion of the share acquisition, Exide Life (which will become a wholly owned subsidiary of HDFC Life) is proposed to merge with HDFC Life.

Note– India has raised foreign direct investment (FDI) limit in insurance to 74% from 49%
About HDFC Life
HDFC Life has two wholly owned subsidiaries, HDFC Pension Management Company Ltd and HDFC International Life and Re Company Ltd.
Managing Director & CEO: Vibha Padalkar
Headquarters: Mumbai, Maharashtra
Founded: 2000
About Exide Life Insurance Limited
Headquarters: Bangalore, Karnataka
Founded: 2001
Managing Director & CEO : Kshitij Jain

Ministry of Youth Affairs & Sports Announced the National Sports Awards 2021

The Ministry of Youth Affairs & Sports announced the recipients of the National Sports Awards 2021. President of India, Ram Nath Kovind, will felicitate the awardees during the award ceremony which will be held at the Darbar Hall of Rashtrapati Bhavan on 13th November 2021.
The recipients of the National Sports Awards 2021 were recommended by the Selection Committee of the National Sports Awards 2021.
National Sports Awards:
i.The National Sports Awards are annually presented to recognise and reward excellence in sports.
ii.The National Sports Awards 2021 includes Major Dhyan Chand Khel Ratna Award (12 awards) Arjuna Award (35 awards) Dronacharya Award (10 awards) Dhyan Chand Award for Lifetime achievement (5 awards) Rashtriya Khel Protsahan Puruskar (2 awards) Maulana Abul Kalam Azad (MAKA) Trophy (1 award)

Selection Committee of the National Sports Awards 2021:
The Selection Committee of the National Sports Awards 2021 was chaired by former Supreme Court Judge Justice Mukundakum Sharma.
About Ministry of Youth Affairs & Sports:
Union Minister- Anurag Singh Thakur (Constituency- Hamirpur, Himachal Pradesh)
Minister of State– Nisith Pramanik (Constituency- Coochbehar, West Bengal)

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