Current Affairs

9 July, 2021

International

Agriculture to be made more Appealing to Youth to save future Food Security – UN FAO

Transforming global Agriculture & Food Security in a way more appealing to the younger population will be the key to secure the future of global food & nutrition security, as per the report released by Committee on World Food Security (CFS).

i.The report titled “Promoting youth engagement and employment in agriculture and food systems” was prepared by CFS’s High Level Panel of Experts (HLPE) on food security and nutrition.
ii.CFS is an intergovernmental platform that works on food security and nutrition for all. It is hosted by the Food and Agriculture Organization (FAO).
Findings of the Report:
i.Unemployment rate in youth (majority – young women) is 3-times higher than adults.
ii.Agriculture & food system, when made appealing to youth, provides enormous room for employment generation in developing countries where 88% of the global youth population live.
iii.Countries should improve youth-focused social protection programmes, labour laws and regulations. Thereby supporting youth-led start-up initiatives through environmental policies.
About Committee on World Food Security (CFS):
Founded – 1974
CFS Chairperson – Thanawat Tiensin
About Food & Agriculture Organisation (FAO):
Founded – 16 October 1945
Headquarters – Rome, Italy
Director-General – QU Dongyu

22 Million Jobs lost in Developed Nations due to COVID-19: OECD Report

The Organisation for Economic Cooperation & Development (OECD) in its ‘OECD Employment Outlook 2021’ stated that over 22 million jobs were lost in developed nations due to COVID-19. Out of 22 million who remain out of work, 8 million are unemployed and 14 million are considered inactive. The report states that worldwide, 114 million jobs were lost during the pandemic. In May 2021, unemployment among OECD countries fell to 6.6%, but remained at least 1% above pre-pandemic levels. The pre-pandemic levels of employment are unlikely to be achieved before the end of 2022.

OECD Employment Outlook
It is an annual assessment of key labour market developments and prospects in OECD member countries. The 2021 edition is devoted to navigating the COVID-19 crisis and recovery.

About Organisation for Economic Cooperation & Development (OECD)
Secretary-General – Mathias Cormann
Headquarters – Paris, France
Members Countries – 37

National

India to have 24 Integrated Check Posts on Land Borders by 2025: LPAI

During a seminar organized by Centre for Social & Economic Progress (CSEP), Aditya Mishra, Chairman of LPAI (Land Ports Authority of India), a statutory body under the Ministry of Home Affairs stated that India will have 24 Integrated Check Posts (ICPs) on land borders by 2025. It will enable better integration of India with the South East Asian region and other regions beyond them. Government has already approved all the 24 land ports, out of which 9 are already functional, some are under construction and some are under various stages of development. The number of ICPs is set to at least 20 in the next 2 years. ICPs are entry and exit points on India’s land borders, they house various facilities like customs, immigration, and border security, quarantine, among others, within a single facilitation zone.

About Land Ports Authority of India (LPAI)
Chairman – Aditya Mishra
Head Office – New Delhi

Govt Set up 25-Member DCCI under the Chairmanship of Puneet Dalmia

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has set up a 25-member Development Council for the Cement Industry (DCCI) under the chairmanship of Puneet Dalmia, CMD, Dalmia Bharat Group. The Council will suggest ways to eliminate waste, obtain maximum production, improve quality, reduce costs, and promote standardization of products. It will also recommend measures for securing the full utilization of the installed capacity and improving the working of the cement industry (particularly of the less efficient units).

About Department for Promotion of Industry and Internal Trade (DPIIT):
i.Department of Industrial Policy & Promotion was renamed as DPIIT in January 2019.
ii.DPIIT was reconstituted in 2000 with the merger of the Department of Industrial Development. In 2018, matters related to e-commerce were also transferred to DPIIT.
Establishment – 1995

Vman Aviation signs GIFT City’s 1st Aircraft Purchase Agreement with Airbus Helicopters

Vman Aviation Services became the first GIFT (Gujarat International Finance Tec) City, Gandhinagar based Aircraft leasing company to sign an Aircraft purchase agreement after placing an order for an Airbus H125 helicopter with France-based Airbus Helicopters SAS. The agreement has been signed underGovernment’s Atma Nirbhar Bharat Abhiyan Initiative. Shri Vishok Mansingh, CEO, Vman and Mr. Remi Maillard, President, Airbus India and Managing Director, South Asia region signed the agreement. The signing of the purchase agreement was presided by Pradeep Singh Kharola, Secretary, Ministry of Civil Aviation (MoCA) and was held at New Delhi. Vman will announce its 1st dry lease transaction soon. A dry lease is a leasing arrangement where an aircraft lessor provides an aircraft without crew, ground staff, etc, to an airline or corporation.

GIFT City as Hub for Aircraft Leasing

The Government of India is aiming to make GIFT IFSC a hub for aircraft leasing & financing activities. In the Union Budget 2021-22, Finance Minister Nirmala Sitharaman rolled out incentives for Aircraft Leasing companies which are willing to set up a base at the IFSC (International Financial Services Centre) in GIFT City.

About Vman Aviation Services
It is a subsidiary of a Vman Aero Services LLP
CEO – Vishok Mansingh
Location – GIFT City, Ahmedabad, Gujarat
About Airbus Helicopters SAS
CEO – Bruno Even
Headquarters – Marignane, France

Economy

Easiloan Instant Match: Easiloan launched India’s first AI-based Home Loan Selection Engine

A fintech startup Easiloan Techno Solutions Pvt. Ltd. located in Mumbai, Maharashtra launched ‘Easiloan Instant Match’ application for home loans. This app is the housing finance industry’s first Artificial Intelligence (AI) technology-based selection and recommendation engine for home buyers.

Aim behind this Launch:
i.To address the inefficiencies in the home loan ecosystem
ii.To streamline the loan processes across buyer, developer/seller and lenders.

SBI General Insurance Launched Health Insurance Plan – ‘Arogya Supreme’

SBI General Insurance launched a comprehensive health insurance plan named ‘Arogya Supreme’ with multiple benefits and coverages.
Features of Arogya Supreme:
i.Under the policy the insured persons will get a wide range of sum insured options up to Rs 5 crore for their medically necessary hospitalization due to illness or accident that occurred during the policy period.
ii.Options: Based on the sum insured and coverage features, 3 different options viz Pro, Plus, and Premium were provided for the customers to choose under the plan.
iii.Policy Term: Customers also have a facility to choose the policy tenure ranging from 1 to 3 years i.e. 1year/2years/3years.
iv.Age Limit: Adult – 18 years to 65 years; Child – 91 days to 25 years.
About SBI General Insurance Company Ltd:
Establishment – 2009 (Commenced Operation – 2010)
Headquarters – Mumbai, Maharashtra
MD & CEO – Prakash Chandra Kandpal
Tagline – Suraksha Aur Bharosa Dono

Max Bupa tie-up with Axis Bank to Offer Health Insurance

Axis Bank, the country’s third-largest private sector bank, entered into a bancassurance partnership with Max Bupa Health Insurance to provide comprehensive health insurance solutions to its customers and employees. Under the partnership, Max Bupa will offer indemnity as well as fixed benefit products, and their customizable variants to the bank’s customers across the country. The Axis Bank customers are also enabled to get access to quality healthcare solution products that are offered by Max Bupa through the tie-up. The Health Insurance would cover medical emergencies in Tier 1, Tier 2 and Tier 3 cities.

About Axis Bank:
Establishment –1993 (Commenced operation –1994)
MD & CEO – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Tagline – Badhtika Naam Zindagi

Axis Bank inks MoU with Indian Army offering Service Salary Package under its ‘Power Salute”‘ initiative

Axis Bank signed a Memorandum of Understanding (MoU) with the Indian Army at Army Headquarters, New Delhi to offer a defence service salary package to the latter under its ‘Power Salute’ initiative. The MoU will cover all ranks of army officers viz. serving Defence personnel as well Defence pensioners under its ambit. During the signing ceremony IndianIndian Army was represented by Lt Gen (Lieutenant General) Rana Pratap Kalita, and Axis Bank was represented by Reynold D’ Souza, Executive Vice President and Lt Col MK Sharma National Accounts Head, Axis Bank.

About Axis Bank:
Establishment– 1993 as UTI Bank (Name changed to Axis Bank in 2007)
Managing Director (MD) & Chief Executive Officer (CEO)– Amitabh Chaudhry
Headquarters– Mumbai, Maharashtra
Tagline– Badhti Ka Naam Zindagi

Sports

ICC CEO Manu Sawhney to exit with immediate effect

ICC CEO Manu Sawhney will leave the organisation with immediate effect, informed the International Cricket Council (ICC) on July 8, 2021.

Geoff Allardice will remain the Acting CEO of the organisation and will be supported by the leadership team working closely with the ICC Board.

Manu Sawhney's conduct had come under scanner when an audit firm PricewaterhouseCoopers was conducting an internal investigation. He was then sent on leave.

Indian Cricketer Mithali Raj Became Leading Scorer in All forms of Women’s International Cricket

Indian cricketer and women’s ODI Captain Mithali Raj (38 years old) became the leading scorer in women’s international cricket in all three formats. She overtook former England’s batter Charlotte Edward’s tally of 10273 runs during the 3rd and final One-Day Internationals(ODI) between England and India held in Worcester, Massachusetts, United States. Mithali Raj has scored a total of 10277 runs in 317 matches. She is the only Indian cricketer and 2nd international cricketer to score more than 10000 runs in Women’s International Cricket.

Mithali Raj tops the ICC ODI women’s Batting Rankings for the 8th time. She achieved the feat for the first time in April 2005. She has represented India in more than 200 ODI and has scored 6974 runs. She also holds the record of the most runs in Women’s ODIs.

Miscellaneous

HDFC Divested 2.46% Stake in HOECL

Housing Development Finance Corporation (HDFC) Ltd had divested 2.46 percent (32,53,517 shares) of its stake in Hindustan Oil Exploration Company (HOECL) for Rs 37.19 crore. In FY21 HOECL’s standalone total revenue stood at Rs 111.26 crore and the balance sheet of the company was at the size of Rs 1,035.27 crore. HOECL is a company engaged in the exploration, development and production of crude oil and natural gas in India (both offshore and onshore), since 1983.

Stefan Lofven re-elected as Prime Minister by Swedish Parliament

Stefan Lofven of the Swedish Social Democratic Party was re-elected as Prime Minister of Sweden by the Swedish Parliament in July 2021. This comes a month after the June 11 No-Confidence vote in the Parliament, which led to his resignation after he failed to prove majority in the 349-member legislature.

About Sweden:
Capital – Stockholm
Currency – Swedish Krona
Parliament Name – Riksdag
5 Countries – Sweden, Denmark, Norway, Finland, and Iceland together called as ‘Scandinavian Countries’

Overview of Cabinet Reshuffle & Portfolio of New Ministers

the reshuffle and expansion of the Union Cabinet took place. As many as 43 Ministers (15 Cabinet Ministers, 28 Ministers of State) were sworn in, taking the strength of the Council of Ministers to 77 (78 including Prime Minister). Out of 43, 36 were New Faces & 7 Ministers were promoted to the rank of Cabinet Minister. As per Article 75 (4) The Ministers were administered the oath of office and secrecy by President Ram Nath Kovind at a ceremony held in the Rashtrapati Bhavan, New Delhi. Before the appointment of Ministers, The President accepted the resignation of 12 Ministers.Prime Minister Narendra Modi is set to directly monitor the Ministry of Science & Technology.

Kanchan Ugursandi completes World’s 1st Solo Motorcycle Expedition

Mountain biker Kanchan Ugursandi completed the World’s 1st Solo Motorcycle Expedition covering 18 passes in the Himalayas covering 3,187 kilometers from New Delhi-Manali-Leh-Umlingla-Delhi in 25 days. She is also the 1st woman biker to cover the 18 passes.
i.Her Expedition was flagged off by Defence Minister Rajnath Singh on 11th June from New Delhi, on a move to promote COVID safety awareness in border areas.

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