Current Affairs

13 October, 2021

International

“Annually 22,000 Girls die of Pregnancy in Child Marriage” – Report

Globally, Child marriage kills over 60 girls a day, of which South Asia is responsible for 6 deaths a day, as per the “Global Girlhood Report 2021: Girls’ Rights in Crisis” report released by Save the Children International on the ‘International Day of the Girl Child’ (11th October). The report estimates that annually 22,000 girl child die due to child marriage, with pregnancy & childbirth being the major cause of death.

Note – In 1978 Government of India had amended the Child Marriage Restraint Act, 1929 & raised the legal age for Marriage is 18 years for Girls and 21 years for Boys.
Overview of the Report:
i.West & Central Africa is responsible for over half the deaths related to Child marriage, nearly 9,600 annual deaths or 26 deaths a day. The region also records the highest number of Child marriages in the world.
ii.South Asia is responsible for 2,000 child marriage-related deaths every year, which is around 6 deaths a day, which is followed by East Asia & Pacific with 650 annual deaths or 2 daily deaths.
iii.Nearly 80 million child marriages were prevented in the last 25 years, but the situation worsened during the Covid-19 pandemic.
iv.Girl children faced increased risk of violence during the lockdown, and an estimated 10 million girls will be victims of Child marriage by 2030.
v.The report advises governments to prioritize issues related to girl child & gender-based violence.
vi.The organisation is calling on governments to Raise girls’ voices; Address immediate and ongoing risks of gender-based violence, including child marriage; Guarantee the rights of all girls; Ensure the safe and unrestricted participation of female humanitarian staff in all humanitarian response efforts; Join the Generation Equality movement.
About Save the Children:
CEO – Inger Ashing
Founded – 15th April 1919
Headquarter – London, United Kingdom

Low-Income Countries’ Debt rose 12% to record $860 bn in 2020: WB Report

i.World Bank (WB) in its report titled ‘International Debt Statistics 2022’ warned against a 12% debt rise of the world’s low-income countries to $860 billion in 2020 due to the COVID-19 pandemic. The report called for urgent efforts to reduce debt levels.
ii.Half of the world’s poorest countries were in external debt distress or at high risk of it.
iii.The external debt stocks of low- and middle-income countries combined raised 5.3% in 2020 to $8.7 trillion.
About World Bank (WB):
It was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF).
President– David R. Malpass (13th President)
Headquarters– Washington DC, United States
Member Countries – 189 Countries

National

Quad Nations conduct 2nd Phase of Malabar 2021 Exercise in Bay of Bengal

QUAD countries – India, Australia, Japan & USA started the second phase of the 25th edition of joint Naval exercise ‘Malabar 2021’ in the Bay of Bengal region. The 3-day long naval exercise is aimed at building coordination & interoperability among the navies that was established during the 1st phase.

i.In the 2nd phase the Indian side is represented by INS Ranvijay, INS Satpura, P-8I long-range maritime patrol aircraft, and a submarine.
About QUAD:
i.QUAD or Quadrilateral Security Dialogue is a grouping of 4 countries – India, Australia, Japan & USA, that was initially established in 2007 under the proposal of Japanese PM Shinzo Abe.
ii.Later in the 2017 ASEAN Summit, the 4 countries agreed to revive the QUAD alliance.
Motive – To counter China’s rising influence & maintain a free Indo-Pacific region.
About Indian Navy:
Chief of Naval Staff – Admiral Karambir Singh
Integrated Headquarters of Ministry of Defence (Navy) – New Delhi

Highlights of the Denmark PM Mette Frederiksen’s Visit to India from October 9-11

Prime Minister (PM) of Denmark H.E. Mette Frederiksen visited India from October 09 to 11, 2021. It is Mette Frederiksen Blinken’s 1st State visit to India. The visit is aimed at further strengthening and enhancing the friendly relationship between the two nations. The two nation’s PMs have reconfirmed their commitment to Green Strategic Partnership and have firmed up a 5-year action plan (from 2021 to 2026) to implement it focused on ways to augment and consolidate green and low carbon growth. Four Government -to- Government Agreements were signed in the fields of traditional knowledge, skill development, mapping of groundwater resources. Danish pump and water solutions company Grundfos signed an MoU with Tata Projects on Saturday to cooperate and explore projects jointly in the area of environment, sustainability and water.

About Denmark:
Capital – Copenhagen
Currency – Danish krone

SNV Aviation Pvt Ltd gets NOC from MoCA to operate ‘Akasa Air’ by 2022

i.The Ministry of Civil Aviation (MoCA) gave NOC (No Objection Certificate) to SNV Aviation Pvt Ltd to operate commercial flights across India under the brand name ‘Akasa Air’ from summer 2022.

ii.This NOC will be followed by a security background check after which the airline will apply for AoP (air operator permit) from the Directorate General of Civil Aviation (DGCA).
iii.It should be noted that this proposed airline is backed by Rakesh Jhunjhunwala, the Big Bull or Warren Buffett of India; and former Jet Airways CEO (Chief Executive Officer) Vinay Dube.
About Ministry of Civil Aviation (MoCA):
Union Minister– Jyotiraditya Scindia (Constituency– Madhya Pradesh)
Minister of State (MoS)– General Vijay Kumar Singh (Retd.) (Constituency- Ghaziabad (Uttar Pradesh)

Government set to Sell the Subsidiaries of Air India

Following the privatisation of Air India (AI), the Government of India (GoI) started its asset disposal programme of AI’s subsidiaries. Air India Asset Holdings Pvt Ltd (AIAHL), the wholly-owned regional subsidiary of AI consists of a company of ground handling, engineering, and Alliance Air to be privatised for clearing of its liabilities and disposal of assets. Recently, Talace Pvt Ltd (the subsidiary of Tata Sons Private Ltd) won the final bid for acquiring the national carrier AI by submitting Rs 18,000 crore bid. In 2019, GoI has formed a Special Purpose Vehicle (SPV) AIAHL for holding debt and non-core assets of the Air India group. The 4 subsidiaries of Air India include Air India Air Transport Services Ltd (AIATSL), Airline Allied Services Ltd (AASL), Air India Engineering Services Ltd (AIESL) and Hotel Corporation of India Ltd (HCI) along with non-core assets, painting and artefacts, and other non-operational assets, were transferred to AIAHL.

Economy

Ezetap Partners with Axis Bank to Bring ‘My Vyappar’ for the Retail Segment

Ezetap has collaborated with Axis Bank to offer a new service app ‘My Vyappar’ to retail businesses in India. The app also aims at motivating the merchants to increase the use of digital payments, by incentivizing them with rewards, upon achieving bank goals.
Highlights
i.Through this service, the Axis Bank will provide digital payment management for the merchants.
ii.Around 50,000 smart Point of Sales (POS) devices have been deployed with My Vyappar across more than 1600 cities in India.
My Vyappar app-
i.My Vyappar app provides businesses with a single view of all credit transactions that can be accessed anytime anywhere
ii.It offers a full suite of Buy Now Pay Later (BNPL) options that can boost revenue.
iii.EMI facilities would be available for ticket sizes as small as even INR 3000.
iv.The app provides multilingual capability by adding Hindi as an additional language to help retailers better understand their digital payments.
About Axis Bank
Chief Executive Officer– Amitabh Chaudhry
Headquarters- Mumbai, Maharashtra
Founded– 3 December 1993
Tagline: Badhti ka Naam Zindagi

Bharti AXA Life Launches New Savings Product ‘Bharti AXA Life Unnati’

Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and AXA, one of the world’s largest insurance companies, launched a new participating savings product named ‘Bharti AXA Life Unnati’.

Objective: To provide long term financial stability to individuals with the dual benefits of savings and protection in a single product. It offers 4 plan options along with flexible premium payment terms and multiple add-ons and enables the customers to customize the product as per their needs and life goals. It offers immediate assured income options and protection up to the age of 100.

4 Plan Options:
i.Whole Life Income option: It is a ‘4G’ plan option, which provides guaranteed income (from the 2nd year onwards) with cash bonuses till age 100 years.
ii.Endowment option: This option will provide a lump-sum benefit to meet long term goals. It has two variants, waiving off premiums in case of death of the life insured and providing an option for a higher life cover.
iii.Moneyback Option: Through this option, a guaranteed money back equal to 1 annualized premium could be obtained every 4th year during the policy term along with a lump sum amount at the end of the policy term.
iv.Immediate Income Option: It provides regular income in form of cash bonuses (if declared), from the 2nd policy year and provides a lump sum amount at maturity.
About Bharti AXA Life Insurance:
Establishment – 2006
Headquarters – Mumbai, Maharashtra
MD & CEO – Parag Raja

IIFL Finance: 1st Indian NBFC to launch Instant Business Loan on WhatsApp

IIFL (India Infoline Limited) Finance became the first NBFC Indian NBFC (non-banking financial company) that has launched instant business loans on WhatsApp up to Rs 10 lakh (Rs 1 million). This facility will enable the Whatsapp users to avail loan with minimum documentation and get approval in five minutes. The technological services for the same will be provided by Setu, IIFL Finance’s technology service provider.

About IIFL Finance:
Managing Director– Venkataraman Rajamani
Headquarter– Mumbai, Maharashtra
About Setu:
Co-founder and CEO– Sahil Kini
Headquarter– Bengaluru, Karnataka

Sports

Australia wins by 14 runs against India, seals multi format series by 11-5

Australia beat India by 14 runs in the third and final T20 Women’s International to seal the multi-format series by 11-5 points. All three formats have been clubbed together and India after losing the WODI series by 1-2 margin, lost the WT20I 0-2. Unbeatable scores by opener Beth Monney 61 and Tahlia McGrath 44 helped Australia to put up a decent score of 149 for five. For India, left-arm spinner Rajeshwari Gayakwad took 2 wickets of 37, Renuka Singh 1 for 23, Pooja Vastrakar 1 for 24 and off-spinner Deepti Sharma 1 for 24.Chasing the total, Smriti Mandhana scored 49-ball 52 but India kept losing wickets to eventually manage only 135 for 6 in their stipulated 20 overs.

FIFA reveals Ibha, Asiatic lioness as mascot For U-17 2022 WWC

FIFA unveiled Ibha, an Asiatic lioness as the official mascot of the U-17 Women’s World Cup India 2022. Ibha represents women power. The objective of the mascot is to inspire girls and women around the world to work up to their full potential. The seventh edition of biennial international football tournament, the 2022 FIFA U-17 Women’s World Cup is being hosted by India from October 11 to 30, 2022. The announcement coincided with the International Day of the Girl Child.

About Ibha
i.Ibha is a strong, playful and charming Asiatic lioness.
ii.Aims to inspire and encourage women and girls by using teamwork, resilience, kindness and empowering others.
iii.It will play an important role in engaging with fans, as well as encouraging and inspiring more women and girls across India.
Germany becomes first team to qualify for 2022 World Cup
Germany became the first team to qualify for the 2022 World Cup by beating North Macedonia 4-0 and to secure top spot in qualifying Group J with two games to spare.
About FIFA
It stands for Federation Internationale de Football Association
President –Gianni Infantino
Headquarters – Zurich, Switzerland

Miscellaneous

Germany unveils world’s first driverless train

German rail operator Deutsche Bahn and industrial group Siemens unveiled the world’s first automated, driverless train in the city of Hamburg, Germany. According to them, it is more punctual and energy efficient than traditional trains. Four more driverless trains will join the northern city’s S-Bahn rapid urban rail network. These rails will start carrying passengers from December, using the existing rail infrastructure and will be sharing tracks with other regular trains. It is part of a 60 million euro ($70 million) modernisation of Hamburg’s rapid urban rail system. The automated trains can transport up to 30 per cent more passengers, improve punctuality and save more than 30 per cent energy. Although the train is fully automated, a driver will still be present to supervise journeys whenever there are passengers on board.

About Deutsche Bahn
It is a German railway company.
CEO – Richard Lutz
Headquarters – Berlin, Germany
Founded – 1994
About Siemens
CEO – Roland Busch
Headquarters – Munich, Germany
Founded – 1847
About Germany
President – Frank-Walter Steinmeier
Capital – Berlin
Currency – Euro

Former SBI Chairman Rajnish Kumar Appointed as Chairman of the Board of BharatPe

Rajnish Kumar, former chairman of the State Bank of India(SBI) has been appointed as the Chairman of the board of BharatPe, an ‘Indian’ leading fintech company. He will mentor the BharatPe team during its transition into a small finance bank. He will also take part in defining the short term and long term strategies of BharatPe.

About Rajnish Kumar:
i.Rajnish Kumar has served as the chairman of SBI from 2017 to 2020.
ii.He has also served as the managing director of SBI and the managing director of compliance and risk at SBI.
iii.At present he is serving as an independent non-executive director at HSBC Bank, Asia and Additional Director in the capacity of an Independent Director of the L&T Infotech.
iv.Previously he was appointed as the senior advisor by Baring Private Equity Asia and an advisor to Kotak Investment Advisors.
About BharatPe:
Bharatpe has emerged as the largest B2B (business-to-business) lender in the financial services industry and has become a unicorn startup (a company with a valuation of over 1 billion USD).
CEO– Ashneer Grover
Group President- Suhail Sameer
Head office– New Delhi,Delhi
Founded in 2018

EESL appoints Arun Kumar Mishra as Chief Executive Officer

The Energy Efficiency Services Limited (EESL), a joint venture of NTPC Ltd (formerly known as National Thermal Power Corporation Limited) Rural Electrification Corp. Ltd, Power Finance Corp. Ltd, and Power Grid Corporation of India Limited (PGCIL) appointed Arun Kumar Mishra as the Chief Executive Officer (CEO) on deputation. He will be responsible for EESL operations. He will succeed the vice-chairperson of EESL, Saurabh Kumar.
About Energy Efficiency Services Limited ( EESL):
Chairman– K Sreekant
Headquarters- New Delhi, Delhi
Founded– 2009

Vice President Naidu presents Lal Bahadur Shastri National Award for Excellence to AIIMS chief Dr Randeep Guleria

The Vice President M Venkaiah Naidu presented the 22nd Lal Bahadur Shastri National Award for Excellence to Director of All India Institute of Medical Sciences (AIIMS) Dr Randeep Guleria. The Vice President also paid tribute to the former Prime Minister, Lal Bahadur Shastri at Upa- Rashtrapati Nivas, Delhi.
Highlights
i.22nd Lal Bahadur Shastri National Award for Excellence was presented to honour the exemplary standards of morality in public life.
ii.Dr Guleria got the award for creating awareness about the pandemic and devotion to duty, nurturing the Department of Pulmonary Medicine and Sleep Disorders in AIIMS.
Constitutional provision for Vice President
Article 63 : The Vice-President of India.
Article 64 : The Vice-President To Be Ex-Officio Chairman of The Council of States.
Article 65 : The Vice-President To Act As President or To Discharge His Functions During Casual Vacancies In The Office, or During The Absence, of President.
Article 67 : Term of Office of Vice-President.
About Lal Bahadur Shastri
Born- 2 October 1904 ( Mughalsarai, Bihar)
Nickname- Man of Peace

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