Current Affairs

7 July, 2021


Aeldra Proposed US Bank Account for Indian Students

Aeldra Financial Inc., a ‘digital neo bank’ proposed a United States (US) bank account with a Mastercard Global Debit Card for the Indian students who are preparing to get admission in the US. The account could be opened and operated from India even before the students get an F-1 visa. Objective: To enable the Indian students, professionals, and investors to get their US bank account before they leave for the U.S.
Requirements: Aeldra requires only a valid Indian passport and other local documents for KYC (know your customer) to open the account (No need for U.S. Social Security Number, U.S. address proof or even a U.S. visa).
About Aeldra Financial Inc.:
It is a digital banking and investment platform serving students, professionals, and investors globally. It has partnered with Blue Ridge Bank, N.A. and Mastercard in the US.
Establishment – 2019
Headquarters – Silicon Valley, California, US
Headquarters(India) – Bangalore, Karnataka
CEO – Sukeert Shanker
M.D (India) – Anil Kumar N.S.

Agriculture prices to ease, Global Targets on Climate, Hunger unlikely to be met in 2021-30: FAO, OECD report

The ‘OECD FAO Agricultural Outlook 2021 2030’ report released by OECD (Organisation for Economic Co-operation and Development) & UN’s FAO (Food & Agriculture Organization) states that the prices of Food commodities are set to become cheaper in 2021-30 and the global targets on reducing hunger and CO2 emissions are unlikely to be met under current policies. The OECD-FAO Agricultural Outlook is an annual report, which serves as a consensus assessment of the 10 year prospects for agricultural commodity and fish markets at national, regional and global levels.
About Organisation for Economic Co-operation and Development (OECD)
Secretary-General – Mathias Cormann
Headquarters – Paris, France

MoC signed between IETO and Libyan African Business Council during FITA 2021 in Tunis, Tunisia

A Memorandum of Cooperation (MoC) was signed between Indian Economic Trade Organization (IETO) and Libyan African Business Council during the Financial Investment Trade Africa (FITA 2021) held in Tunis, Tunisia on June 25, 2021. The MoC was signed between IETO’s President Dr. Asif Iqbal and Libyan African Business Council Vice-President Muhamad Eawn.


MoEFCC & MoTA sign Joint Communication To Provide More Power to Tribal Communities

The Ministry of Tribal Affairs (MoTA) and Ministry of Environment, Forest and Climate Change (MoEFCC) signed an ‘Joint Communication’ in New Delhi to give more powers to the Tribal communities in managing the forest resources. The Joint Communication is related to the effective implementation of the Schedule Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 (commonly known as Forest Rights Act).
About Ministry of Tribal Affairs (MoTA)
Union Minister – Arjun Munda (Lok Sabha – Khunti, Jharkhand)
Minister of State – Renuka Singh Saruta (Lok Sabha – Surguja, Chhattisgarh)

MoEFCC approves Ramgarh Vishdhari Sanctuary as 4th Tiger Reserve of Rajasthan

Ramgarh Vishdhari Sanctuary in Bundi, Rajasthan has been sanctioned as the 4th Tiger Reserve of Rajasthan and 52nd Tiger Reserve of India by the Ministry of Environment, Forest & Climate Change (MoEFCC). In June 2021, The Technical Committee of National Tiger Conservation Authority (NTCA) approved the proposal for Ramgarh Vishdhari Sanctuary into Tiger Reserve. The other 3 Tiger Reserves in Rajasthan namely Ranthambore in Sawai Madhopur, Sariska in Alwar, and Mukundra Tiger reserve in Kota are home to 102 Tigers. The Ramgarh Vishdhari Sanctuary will be spread across 1,071 sq kms. A 302 Sq Km area in the proposed tiger sanctuary will be left as critical habitat for Tigers and the rest of the area will act as a buffer zone for the Ranthambore National Park.
About National Tiger Conservation Authority (NTCA)
Chairperson – Union Minister of MoEFCC (Prakash Javadekar)
Head Office – New Delhi

Goa to host 52nd IFFI from 20th – 28th November 2021

Union Minister of Information and Broadcasting (I&B), Prakash Javadekar announced the dates for 52nd edition of the International Film Festival of India (IFFI), which will be held in Goa from 20th to 28th November, 2021. He also released the regulation booklet and the poster of 52nd IFFI.
i.Following the success of 51st IFFI, the Ministry has planned to host this year’s event also in the hybrid format.
ii.2021 is the 100th Birth anniversary of India’s legendary filmmaker “Satyajit Ray”, to mark this a Special Retrospective was arranged by the Directorate of Films Festivals at 52nd IFFI.
iii.A new award – “Satyajit Ray Lifetime Achievement Award for Excellence in Cinema” will be instituted annually starting from 2021
Note – Satyajit Ray, is the only Indian to receive the “Academy Honorary Award” when he received it during 1992 Oscars
About International Film Festival of India (IFFI):
IFFI is India’s largest and one of Asia’s oldest International Film festival, recognized by the International Federation of Film Producers Associations (FIAPF).IFFI is annually held at Goa.
Founded – 1952
Host – Government of Goa; Directorate of Films Festivals, Ministry of I&B

Ramesh Pokhriyal ‘Nishank’ Launches NIPUN Bharat Programme

Union Minister for Education, Ramesh Pokhriyal ‘Nishank’ virtually launched ‘National Initiative for Proficiency in Reading with Understanding and Numeracy (NIPUN Bharat)’ Mission & its Guidelines. It aims to ensure that every child in India attains foundational literacy and numeracy by the end of Grade 3, by 2026-27.
i.Purpose – To cover the learning needs of children in the age group of 3-9 years.
ii.The mission has been launched under the aegis of the centrally sponsored scheme of ‘Samagra Shiksha’ and will be implemented by the Department of School Education and Literacy by setting up a five-tier implementation mechanism at the national-state-district-block-school level in all states & UTs.
About Ministry of Education
Union Minister – Ramesh Pokhriyal ‘Nishank’ (Haridwar, Uttarakhand)
Minister of State – Sanjay Shamrao Dhotre (Akola, Maharashtra)


Government set up Advisory Council for ONDC Project

As per the order of the Department for Promotion of Industry and Internal Trade (DPIIT), the Ministry of Commerce and Industry has set up a 9-member Advisory Council to advise the government on measures needed to design and fast adoption of ‘Open Network for Digital Commerce’ (ONDC).
About Quality Council of India (QCI):
It is an autonomous non-profit body set up by the Ministry of Commerce and Industry to establish and operate national accreditation structures and promote quality.
Headquarters – New Delhi
Chairperson – Adil Zainulbhai
CEO – Rajesh Maheshwari

ASCI, FSSAI sign Agreement to curb Misleading Claims in Food & Beverage Ads

Advertising Standards Council of India (ASCI) & Food Safety and Standards Authority of India (FSSAI) have signed an agreement to protect consumers from misleading claims in Food & Beverage (F&B) advertisements. The agreement was signed in the presence of Arun Singhal, CEO of FSSAI & Professor Bejon Misra, Adviser, Public Affairs, ASCI. As per the deal, ASCI will identify advertisements that violate provisions of Food Safety and Standards (Advertising and Claims) Regulations, 2018 and FSSAI will investigate the cases. ASCI will set up a three-member expert panel to evaluate foods and beverages advertising identified by the ASCI monitoring team.
About Advertising Standards Council of India (ASCI)
Chairman – Subhash Kamath
Headquarters – Mumbai, Maharashtra
About Food Safety and Standards Authority of India (FSSAI)
Chairperson – Rita Teaotia
Headquarters – New Delhi

NCDEX Launched 2 New Agri Commodity Indices – GUAREX, SOYDEX

National Commodity and Derivatives Exchange (NCDEX), India’s agricultural-commodity exchange, launched India’s 1st sectoral indices in agricultural-commodities space such as GUAREX and SOYDEX. GUAREX and SOYDEX were also India’s first return based agricultural futures index in agricultural-commodities. These indices will be available on the NCDEX’s website to represent the performance of the Guar complex and Soy complex. Futures trading in these indices will be launched later.
GUAREX – It is the return based index, it tracks the change in the price of the futures contracts of Guar Seed and Guar Gum Refined Splits on a real-time basis.
SOYDEX – It will also trace the price changes in futures contracts of Soybean and Refined Soy Oil.
About National Commodity and Derivatives Exchange (NCDEX):
It is regulated by the Securities and Exchange Board of India (SEBI).
Establishment – 2003
Headquarters – Mumbai, Maharashtra
MD & CEO – Arun Raste

HDFC Bank Joins with Creditas Solutions to Offer Digital Self-Service Credit Portal

HDFC Bank has partnered with Creditas Solutions to offer a guided and customised digital debt management solution with a self-service credit portal for its loan and credit card customers under COVID-19. Under the partnership, Creditas provides a fully integrated ready-to-deploy credit help platform to address the challenges faced by users while managing their credit card and loan payments. The platform will enable the customers to access their credit account information in real-time, on any device through the simplified self-service credit portal. The customers could also monitor, manage, and repay their outstanding dues easily through the portal.
About HDFC Bank:
Establishment -1994
MD & CEO – Sashidhar Jagdishan
Headquarters – Mumbai, Maharashtra
Tagline– We understand your world
Chatbot – Eva
About Creditas Solutions:
Establishment -2015
Headquarters – Gurugram, Haryana

Flexiloans Partners with GooglePay to Provide Digital Loans to SMEs, a Micro Small & Medium Enterprises (MSME) focused digital lending platform, collaborated with Google Pay, Google’s payment app, to offer digital and feasible loans to Small and medium-sized enterprises (SMEs). FlexiLoans is the 1st lender to go live on the Google Pay platform. The collaboration is intended to provide loans to small merchants and entrepreneurs in India, those who are unable to access formal credit.
About Google:
Google Pay is the online payment system developed by Google to power in-app, online, and in-person contactless purchases, initially it was released as Android Pay in 2015 and later as Google Pay in 2018.
Headquarters– California, United States
CEO – Sundar Pichai

HDFC Launched ‘salaam dil sey’ initiative to acknowledge Service of Doctors

In order to acknowledge the tireless service of doctors during COVID-19 pandemic, HDFC (Housing Development Finance Corporation) Bank launched ‘Salaam Dil Sey’ initiative. In this regard, a web portal has been created by bank where the general public can log in and share their thank you message for doctors. These can be shared via email, social media, and WhatsApp.


Tokyo Olympics 2020-21: Manpreet Singh, Mary Kom named India’s flagbearers at Opening Ceremony

The Indian Olympic Association (IOA) confirmed on July 5, 2021, that boxer Mary Kom and Captain of men’s Hockey team Manpreet Singh will be the flagbearers for the Indian contingent at the upcoming Tokyo Olympics.

The President of the Indian Olympic Association (IOA) Narinder Batra said in an official letter that the flagbearers for the Indian contingent of Tokyo 2020 for the opening ceremony on July 23, 2021, are Mary Kom and Manpreet Singh.

He further stated that the flagbearer for the Indian contingent at the closing ceremony of the Tokyo Olympics on August 8, 2021, will be wrestler Bajrang Punia.

Nihal Sarin wins Silver Lake Open Chess tournament in Serbia

Nihal Sarin (16-year old) from Kerala won the Silver Lake Open Chess tournament in Serbia. He won 8 points from 9 rounds and defeated Serbia’s Branko Damljanovic in the finals. India’s Raunak Sadhwani and Abhimanyu Puranik with 7 points each have secured the 2nd & 3rd places in the tournament.


MSME Minister Nitin Gadkari Became ‘Brand Ambassador’ of Khadi Prakritk Paint

Nitin Gadkari, Union Minister of Road Transport and Highways & MSME (Micro Small & Medium Enterprises) announced himself as the Brand Ambassador of ‘Khadi Prakritk Paint’ (cow dung paint) to promote the paint across the country and encourage the young entrepreneurs to manufacture it. Khadi Prakritk Paint is India’s 1st and only paint made from cow dung He also inaugurated a new automated manufacturing unit of Khadi Prakritik Paint virtually on the campus of Kumarappa National Handmade Paper Institute (KNHPI), Jaipur, Rajasthan, the institute is a unit of the Khadi and Village Industries Commission (KVIC). The new unit was intended to double the production capacity of Prakritik Paint from 500 litres (Current protection).
Note – Nitin Gadkari appreciated KVIC for the successful research and set the target to set up a Parkritik Paint unit in each and every village.
About Ministry of Micro Small & Medium Enterprises:
Union Minister – Nitin Jairam Gadkari
Minister of State (MoS)– Pratap Chandra Sarangi

President Ram Nath Kovind Appoints New Governors for 8 States

President Ram Nath Kovind appointed new Governors for 8 States. Article 155 of the Indian Constitution states that the Governor of a State shall be appointed by the President by warrant under his hand and seal. As per Article 159, The Chief Justice of the concerned State High Court administers the oath of office to the Governor.
New Appointments & Transfers
State New Governor Preceded by
Goa P.S. Sreedharan Pillai
(Currently Governor of Mizoram) Bhagat Singh Koshyari
Tripura Satyadeo Narain Arya
(Currently Governor of Haryana) Ramesh Bais
Jharkhand Ramesh Bais
(Currently Governor of Tripura) Droupadi Murmu
Karnataka Thaawarchand Gehlot
(Currently Union Minister for Social Justice & Empowerment) Vajubhai Vala
Haryana Bandaru Dattatraya
(Currently Governor of Himachal Pradesh) Satyadeo Narain Arya
Mizoram Dr. Hari Babu Kambhampati P.S. Sreedharan Pillai
Madhya Pradesh Mangubhai Chhaganbhai Patel Anandiben Patel
Himachal Pradesh Rajendra Vishwanath Arlekar Bandaru Dattatraya

Decoding Shankar wins Biographical Film Award at the Toronto International Women Film Festival 2021

A documentary on singer Shankar Mahadevan titled ‘Decoding Shankar’ has won Best Biographical Film Award at the Toronto International Women Film Festival, 2021.The documentary was directed by Kochi-based filmmaker Deepti Pillay Sivan. This documentary also won a Special Jury Award at the Indo French International Film Festival.

KIAB Airport Inducted into ACI DG’s Roll of Excellence 2020

Kempegowda International Airport, Bengaluru (KIAB Airport), Karnataka owned by the Bangalore International Airport Limited (BIAL), has been inducted into the Airports Council International (ACI) Director General(DG)’s Roll of Excellence for the year 2020. ACI DG’s Roll of Excellence recognises the airports that delivered excellence in customer service by winning multiple ASQ awards over a period of 5 years.

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