Current Affairs

10 August, 2021

International

IPCC’s AR6 Climate Change 2021 Report: UN Reported ‘Code Red’ Warning

The Intergovernmental Panel on Climate Change’s (IPCC) Sixth Assessment Report (AR6) Climate Change 2021: The Physical Science Basis by the Working Group I was released. It addresses the most up-to-date physical understanding of the climate system, climate science, etc. United Nations(UN) secretary-general Antonio Guterres called the report ‘a code red for humanity’. Even if the emissions decline slowly, the long-term goal set in the Paris Agreement i.e. holding the global average temperature to below 2°C above pre-industrial levels would be breached by 2060. The report gave 5 scenarios for the future based on carbon emissions, as per it, the world will cross the 1.5° C warming mark in the 2030s, earlier than past predictions. Under the very high emission scenario with little action, temperatures are likely to rise by up to 5.7°C by the year 2100.

About Intergovernmental Panel on Climate Change (IPCC): It is a group put together by the United Nations (UN), comprising over 234 scientists from 66 nations. The team of scientists worked together to evaluate over 14,000 research papers over the past five years, culminating in AR6, which is the first of a three-part report.
Establishment – 1988 by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP)
Headquarters – Geneva, Switzerland
Chair – Hoesung Lee

South Africa becomes 1st Country to grant Patent for an Invention by AI

South Africa became the 1st Country in the World to grant Patent to an Artificial Intelligence (AI) System. It has granted a patent related to an Food Container system based on Fractal Geometry invented by the AI system ‘DABUS’ (Device for Autonomous Bootstrapping of Unified Sentience). DABUS was created by Stephen Thaler. Its main functions are Emergency warning system, spoiled food alert and others. DABUS is a type of AI, often referred to as ‘creativity machines’. They are capable of independent and complex functioning.

About South Africa
President – Cyril Ramaphosa
Capitals – Cape Town, Pretoria, Bloemfontein
Currency – South African RAND

National

Venkaiah Naidu Released Postage Stamp on Social Worker ‘Mananiya Chaman Lal’

During an event in New Delhi on August 8, 2021, Vice President Venkaiah Naidu released a Commemorative Postage Stamp on the Social worker and Sangh Pracharak, ‘Mananiya Chaman Lal’. The postage stamp highlights the life and work of Mananiya Chaman Lal and it was proposed by Amarjiva Lochan, General Secretary, International Centre for Cultural Studies and designed by Sankha Samanta. The stamp was issued as a tribute to Unsung Heroes of India, by the Department of Posts, Ministry of Communications. The launch was a part of the initiatives of the Department for the ‘Azadi ka Amrit Mahotsav’ Programme.
About Ministry of Communications:
Union Minister – Ashwini Vaishnaw (Constituency – Odisha)
Minister of State – Devusinh Chauhan (Constituency – Kheda, Gujarat)

Naval Exercise “Zayed Talwar 2021” held between India and UAE

Indian Navy and United Arab Emirates (UAE) Navy undertook Bilateral Naval Exercise Zayed Talwar 2021 off the coast of Abu Dhabi. The Indian Navy deployed INS Kochi and 2 Integral Sea King MK 42B helicopters, whereas the UAE participated in the exercise with Al-Dhafra, a Baynunah class guided missile corvette and one AS-565B Panther helicopter. The ships undertook tactical manoeuvres, over the horizon targeting, search and rescue operations and electronic warfare drills to enhance interoperability and synergy between the two navies.

About Indian Navy
Chief of Naval Staff (CNS) – Admiral Karambir Singh
Integrated Headquarters of Ministry of Defence – New Delhi.
About United Arab Emirates
President – Khalifa bin Zayed Al Nahyan
Capital – Abu Dhabi
Currency – UAE dirham

Economy

SEBI Amended LODR Regulations; Set Norms for Independent Directors

In August 2021, the Securities and Exchange Board of India (SEBI) amended the SEBI (Listing Obligations and Disclosure Requirements (LODR)) Regulations, 2015 named LODR (Third Amendment) Regulations, 2021. It modified certain norms related to the process of appointment/removal of Independent directors (IDs).

Objective: To enable the transparent appointment/removal of IDs and overcome corporate fraud and promoters’ mismanagement. Appointment/Re-appointment and Removal of IDs were now directed to be made only through a special resolution of shareholders. A cooling-off period of 1 year has been introduced for an ID transitioning to a whole-time director (WTD) in the same company.

Note – The amended norms would be effective from January 1, 2022.
About Securities and Exchange Board of India (SEBI):
Establishment – On April 12, 1992, in accordance with the SEBI Act, 1992.
Headquarters – Mumbai, Maharashtra
Chairman – Ajay Tyagi

CBoI made Co-Lending Partnership with DFL to Offer Gold Loans

In August 2021, the Central Bank of India (CBoI) and Dhanvarsha Finvest Ltd (DFL) entered into a strategic co-lending partnership to offer loans against gold ornaments under priority sector lending to Micro, Small and Medium Enterprise (MSME) borrowers. The loans under the co-lending partnership will be offered in the funding ratio of 80:20e. 80 percent of the gold loans with CBoI and 20 percent with DFL. The loans against gold ornaments will be created and processed by DFL as per the jointly formulated credit parameters and eligibility criteria. DFL will service the loan account throughout the life cycle of the loan.

About Central Bank of India (CBoI):
It was the 1st Indian commercial bank that was wholly owned and managed by Indians.
Establishment – 1911
Headquarters – Mumbai, Maharashtra
MD & CEO – M. V. Rao

Sports

Football: USMNT won CONCACAF Gold Cup 2021

The United States(US) men’s national team(USMNT) won the 2021 CONCACAF Gold Cup defeating Mexico 1-0 during the finals held at Allegiant Stadium, Las Vegas, Nevada, US.
The 2021 championship marks the 7th Gold Cup Title of the US. The 2021 CONCACAF Gold cup was the 16th edition of the biennial international men’s football championship of the North, Central American, and Caribbean regions organized by CONCACAF.

Football: USMNT won CONCACAF Gold Cup 2021

The United States(US) men’s national team(USMNT) won the 2021 CONCACAF Gold Cup defeating Mexico 1-0 during the finals held at Allegiant Stadium, Las Vegas, Nevada, US.
The 2021 championship marks the 7th Gold Cup Title of the US. The 2021 CONCACAF Gold cup was the 16th edition of the biennial international men’s football championship of the North, Central American, and Caribbean regions organized by CONCACAF.

Part-II: Overview of Ongoing Tokyo 2020 Summer Olympics

The 32nd Edition of Olympic Games took place in Tokyo, Japan from 23rd July, 2021 – 8th August, 2021. India finished with 7 Medals (1 Gold, 2 Silver, 4 Bronze) and has been ranked at 48th Position. The US topped the Medals tally with 113 Medals (39 G, 41 S, 33 B) followed by China & Japan.

Overall Medals Tally of India:

Name Sport Event Medal
Neeraj Chopra Athletics Men’s javelin throw Gold
Saikhom Mirabai Chanu Weightlifting Women’s 49 kg Silver
Ravi Kumar Dahiya Wrestling Men’s freestyle 57 kg Silver
P. V. Sindhu Badminton Women’s singles Bronze
Lovlina Borgohain Boxing Women’s WelterWeight (64-69kg Bronze
India men’s national field hockey team (Captain -Manpreet Singh) Field hockey Men’s tournament Bronze
Bajrang Punia Wrestling Men’s freestyle 65 kg Bronze

About International Olympic Committee (IOC):
President – Thomas Bach
Headquarters – Lausanne, Switzerland

Miscellaneous

Virendra Kumar Launched ‘PM-DAKSH’ Portal and Mobile App

Virendra Kumar, the Union Minister for Social Justice and Empowerment has launched a ‘PM-DAKSH’ Portal and ‘PM-DAKSH’ Mobile App under the scheme PM-DAKSH (Pradhan Mantri Dakshta Aur Kushalta Sampann Hitgrahi) Yojana to ease the access of skill development schemes by the target groups. The portal and app were developed by the Ministry of Social Justice and Empowerment (MoSJ&E), in collaboration with National e-Governance Division (NeGD). PM-DAKSH Yojana is the National Action Plan launched by the MoSJ&E in 2020-21 for skilling the target group.
‘PM-DAKSH’ Portal: The portal will have all information related to skill development for the target groups and provide direct access for them to register under the portal with the training institute and program of their own interest.

ACC Approves Extension of Cabinet Secretary Rajiv Gauba’s Tenure

The Appointments Committee of the Cabinet (ACC) has approved the extension of Tenure of Cabinet Secretary Rajiv Gauba by 1 year. He will continue till August 30,2022. Rajiv Gauba was appointed to the post of Cabinet Secretary in 2019. He is a Jharkhand care IAS officer of 1982 batch. Previously, he has also served as Secretary in various Ministries like Home Affairs & Urban Affairs and Housing. He is known for his immense contribution in the Jammu and Kashmir Reorganization Act, 2019.

Cabinet Secretary (CS)
Cabinet secretary is the senior most cadre of the Indian Administrative Service (IAS). It is ranked 11th in the order of precedence. A Cabinet Secretary works under direct charge of the Prime Minister.
Role CS is responsible for the smooth functioning of administration of the Government of India (Transaction of Business) Rules, 1961 and Government of India (Allocation of Business) Rules 1961. Informing the President, Vice-president and Minister about the major activities of the department. The maximum term length of a CS is 4 years.

1st Cabinet Secretary: N R Pillai (1950-1953)
1st Women Cabinet Secretary: S S Grewal (1980-81)

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