Current Affairs

11 February, 2021

International

FAO endorses First-ever Declaration for Sustainable Fisheries and Aquaculture at COFI34

During the 34th Session of UN’s FAO (Food and Agriculture Organization) Committee on Fisheries (COFI 34) which took place virtually from February 1-5, 2021, members of the session supported the first-ever Declaration for Sustainable Fisheries & Aquaculture. The declaration calls for Strong action to combat Illegal, Unreported and Unregulated (IUU) fishing and emphasized on the importance of recovering from impacts of COVID-19 pandemic.
About Food and Agriculture Organization (FAO):
Director General– Qu Dongyu
Headquarters– Rome, Italy

India to be Largest Source of Energy Demand Growth to 2040: IEA’s India Energy Outlook 2021

i.In accordance with the International Energy Agency’s (IEA) “India Energy Outlook 2021”, India will surpass European Union as the world’s third-biggest energy consumer by 2030. In this regard, India energy demand growth share will be maximum at 25% in the next two decades.
ii.As per India’s current national policy scenario, its gross domestic product (GDP) expands to an estimated $8.6 trillion by 2040 thereby the energy consumption is expected to be nearly doubled.
iii.Also, there is a need to spend an additional $1.4 trillion by India to adopt clean energy technologies over the next 20 years.
About International Energy Agency (IEA):
Executive Director – Dr Fatih Birol
Headquarters – Paris, France
Members Countries– 30 member countries and 8 association countries

National

IEPF Authority signs MoU with IGNOU for Telecast of IAP

Investor Education and Protection Fund Authority (IEPF Authority), Ministry of Corporate Affairs signed a Memorandum of Understanding (MoU) with Indira Gandhi National Open University (IGNOU) for collaboration in using the Tele-Lecturing Facility of Gyan Darshan Channel (EMPC – Electronic Media Production Centre) for telecast of Investor Awareness Programmes (IAPs) through distance learning mode.
About IEPF Authority:
Chairperson – Secretary, Ministry of Corporate Affairs (Rajesh Verma)
Headquarters – New Delhi
About IGNOU:
Vice-Chancellor – Professor Nageshwar Rao
Location – New Delhi

RBI Observes Financial Literacy Week 2021 from February 8 to 12

i.The Central Government has laid the foundation of 2nd dam i.e. Lalandar [Shatoot] Dam, to be built by India in Afghanistan, by signing the virtual Memorandum of Understanding (MoU) between both nations. It will be constructed on the Kabul river basin which is one of the five river basins of Afghanistan.
ii.It was signed by Union Minister Dr. Subrahmanyam Jaishankar, Ministry of External Affairs (MEA), India and Foreign Minister of Afghanistan, Mohammad Haneef Atmar in the presence of Prime Minister of India, Narendra Modi and President of Afghanistan Dr. Mohammad Ashraf Ghani.
iii.This project is partially funded by India and is a part of Indo-Afghan New Development Partnership.
About Afghanistan:
Capital– Kabul
Currency– Afghan afghani

Economy

Bharti AXA General Insurance Introduced Health AdvantEDGE, an Innovative Health Insurance Plan

i.Bharti AXA General Insurance introduced Health AdvantEDGE, an innovative health insurance plan.
ii.It is specifically designed to cater the healthcare and wellness needs of customers.
iii.The insurer has launched the Bharti AXA Wellness Cuppa portal for its customers to boost customer engagement and experience.
About Bharti AXA General Insurance:
It is a joint venture company with a 51% stake from Bharti Enterprises and 49% stake of the AXA Group.
Established– 2008
HeadQuarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Sanjeev Srinivasan
Tagline– Suraksha ka Naya Nazariya

NPCI launched Global Hackathon – ‘NPCI PayAuth Challenge’ on APIX

i.National Payments Corporation of India (NPCI) launched a Global level Hackathon ‘NPCI PayAuth Challenge’, to find out the alternatives for the authentication of UPI (Unified Payments Interface) transaction for eg: Biometric. This Challenge is supported by APIX, world’s first cross-border, open architecture API marketplace and sandbox platform.
ii.The Challenge is an open for global Fintechs, solution providers and developers and can submit unique solutions that simplify authorization.
iii.UPI is a unique payment system through which customers can link their bank account to a mobile application and make easy, safe and instant money transfers.
About National Payments Corporation of India (NPCI):
It is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007.
Establishment– 2008
Managing Director (MD) and Chief Executive Officer (CEO)– Dilip Asbe
Headquarter– Mumbai, Maharashtra

RBI Observes Financial Literacy Week 2021 from February 8 to 12

i.The Reserve Bank of India(RBI) observes Financial Literacy Week(FLW) annually since 2016 to promote & spread awareness about financial education messages on a particular theme through a focused campaign across India.
ii.FLW 2021 is being celebrated from February 8 to 12. The 5 day event was launched by Ajay Kumar, Regional Director, RBI.
Theme of FLW 2021– Credit Discipline and Credit from Formal Institutions
About Reserve Bank of India (RBI):
Formation– 1 April 1935
Governor– Shaktikanta Das
Headquarters– Mumbai, Maharashtra
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao)

Sports

ICC Announced BYJU’s as Global Partner from 2021 – 2023

The International Cricket Council (ICC) announced BYJU’s as its global partner from 2021 to 2023. Under the 3-year agreement BYJU’s will partner all the events of ICC from 2021 to 2023, including the Men’s T20 World Cup in India, and the ICC Women’s Cricket World Cup in New Zealand.

Miscellaneous

Square Kilometre Array – World’s Largest Radio Telescope

Square Kilometre Array Observatory (SKAO) Council held its Maiden Meeting during the meeting they approved the establishment of World’s Largest Radio Telescope namely ‘Square Kilometre Array’. The telescope will consist of a vast number of radio receivers which will be positioned in South Africa and Australia. SKAO is a 10-member intergovernmental organisation dedicated to radio astronomy. The members of SKAO are Australia, Canada, China, India, Italy, New Zealand, South Africa, Sweden, Netherlands and UK. The headquarters of SKAO is situated at the University of Manchester’s Jodrell Bank Observatory in Cheshire, United Kingdom. Radio Telescopes are capable of detecting gas and can reveal areas of space which are hidden by cosmic dust.

Dharmendra Pradhan Launches Investment Corner on MoPNG’s Revamped Website

Dharmendra Pradhan, Union Minister of Petroleum and Natural Gas & Steel launched Investment Corner under Project Development Cell (PDC) on the upgraded website of the Ministry of Petroleum and Natural Gas (MoPNG). The section will help the investor community to reach out to the MoPNG. It will channelize investor’s interest to the MoPNG PDC Team.
About Ministry of Petroleum and Natural Gas (MoPNG):
Union Minister – Dharmendra Pradhan (Member of Parliament – Rajya Sabha, Constituency – Madhya Pradesh)

GAIL Acquires 5% Stake of Indian Energy Exchange in Indian Gas Exchange

GAIL (India) Limited has acquired a 5% stake of Indian Energy Exchange Ltd (IEX) in Indian Gas Exchange Ltd (IGX). GAIL becomes the 3rd strategic investor in IGX after Adani Total Gas & Torrent Gas. With this disinvestment, IEX will hold 85% stake in IGX.
5% Equity Stake Acquisition by Adani Total Gas and Torrent Gas
Recently, Adani Total Gas and Torrent Gas acquired 5% stake each in IGX. This was the 1st time stakes of IGX were sold, as it was wholly-owned by the Indian Energy Exchange (IEX). The total 10% stake has been sold for about Rs 7.38 crore
About Indian Energy Exchange Ltd (IEX):
It is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates and Energy Saving Certificates.
Headquarters-Noida, Uttar Pradesh
About GAIL (India) Limited
Chairman & Managing Director– Manoj Jain
Headquarters– New Delhi, Delhi

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