Current Affairs

19 May, 2021

International

Baljeet Kaur and Gunbala Sharma Become the 1st Indian Women to Summit Mount Pumori.

Baljeet Kaur of Himachal Pradesh and Gunbala Sharma of Rajasthan have become The First Indian Women Mountaineers to Summit Mount Pumori in Nepal.

About Nepal:
Nepal has the highest mountain in the world, Mount Everest as well as 1,310 peaks over 6,000 m height.
President: Bidya Devi Bhandari
Capital:Kathmandu
Currency:Nepalese Rupee (NPR)

More than 70% of Snow Leopard habitat under-researched: WWF Report

According to the report ‘Over 100 Years of Snow Leopard Research’ released by World Wide Fund for Nature (WWF), More than 70% of the habitat of the snow leopard (Panthera uncia) over 12 Asian countries remain under-researched. Only 23% of snow leopard’s 1.7 million sq km habitat have been explored. It states that just 4 hotspots of snow leopard research (sites with continued multi-year research) have emerged since 1970. The proportion of area within each country covered by research was highest in Nepal (74%), followed by India (40%), Uzbekistan (39%) and China and Russia (25%). The report is based on analysis of peer-reviewed published papers on Snow Leopard and its habitat. Rishi Kumar Sharma, WWF Global Snow Leopard Lead is one of the lead authors of the report.

About World Wide Fund for Nature (WWF)
President & CEO – Carter Roberts
Headquarters – Gland, Switzerlan

National

ndian Navy hosts GMS-21 Virtually;13 Indian Ocean Littoral Countries Participated

Indian Navy hosted ‘GOA MARITIME SYMPOSIUM(GMS)-21’ virtually for 2 days, from 11th & 12th May 2021, it was for the 1st time GMS-21 held virtually. The theme for GMS-21 was focused on “Maritime Security and Emerging Non-Traditional Threats: A Case for Proactive Role for IOR Navies”. 13 Indian Ocean Littoral countries (India, Bangladesh, Comoros, Indonesia, Madagascar, Malaysia, Maldives, Mauritius, Myanmar, Seychelles, Singapore, Sri Lanka and Thailand) participated in the GMS-21.

Startup ‘Jupitice’ develops World’s 1st Private Digital Court for Dispute Resolution

Jupitice Justice Technologies’, an Chandigarh-based startup has developed World’s 1st Private Digital Court (powered by Blockchain & Artificial Intelligence) to resolve disputes under the Private Justice System through Alternative Dispute Resolution Mechanisms (ADR). The platform is designed for private justice system arbitration, conciliation, mediation & negotiation. It allows parties involved in disputes to conduct arbitration, conciliation or mediation without the help of an administering body.

About Jupitice Justice Technologies
CEO & Founder – Raman Aggarwal
Location – Chandigarh

Tribal Affairs Ministry signs MoU with Microsoft for Digital Transformation of Tribal Schools

The Ministry of Tribal Affairs (MoTA) virtually signed an Memorandum of Understanding (MoU) with Microsoft during the virtual event ‘Empowering Youth For Success’ for digital transformation of Tribal schools such as Eklavya Model Residential Schools (EMRS), Ashram Schools, and other schools under MoTA.Under the agreement, Microsoft will make the Artificial Intelligence (AI) curriculum available to tribal students in English and Hindi at all EMRS schools. This is to ensure inclusion and access. During the 1st phase of the program, 250 EMRS schools will be adopted by Microsoft for the purpose. The main aim of the agreement is to build an inclusive, skills based economy.
About Ministry of Tribal Affairs (MoTA)
Union Minister – Arjun Munda (Lok Sabha – Khunti, Jharkhand)
Minister of State – Renuka Singh Saruta (Lok Sabha – Surguja, Chhattisgarh)
About Microsoft
CEO – Satya Nadella
Headquarters – Redmond, Washington, USA

Economy

Indian Airline-‘GoAir’ Rebranded As ‘Go First’

Wadia Group owned, Indian Airline, ‘GoAir’ was rebranded itself as ‘Go First’ after completing its 15 years of service as GoAir. The Go First as ULCC (ultra-low-cost carrier) would operate single aircraft type across its fleet, which currently has both Airbus A320 and A320Neos (new engine option) planes in operation.It will be the 3rd operational scheduled carrier after SpiceJet and IndiGo once the shares get listed.

India’s WPI Inflation Jumps to 11-year High in April 2021-10.49%

As per the data released by the Ministry of Commerce & Industry on May 17, 2021, India’s annual rate of inflation (YoY), based on monthly WPI (Wholesale Price Index) accelerated to 10.49 percent in April 2021, (the highest since April 2010) from 7.39 percent in March 2021 due to a hike in prices of food items, manufactured goods, fuel, and power.
Note – April 2021’s WPI inflation is the first double digits WPI in almost a decade.
WPI Inflation rate comparison:

Commodities

YoY inflation rate
April 2021

YoY inflation rate
March 2021

All commodities

10.49 percent

7.39 percent

Primary products inflation

10.16 percent

6.40 percent

Food inflation

4.92 percent

3.24 percent

Fuel & Power inflation

20.94 percent

10.25 percent

Manufacturing Products inflation

9.01 percent

7.34 percent

About Ministry of Commerce and Industry:
Union Minister– Piyush Vedprakash Goyal (Rajya Sabha, Maharashtra)
Minister of State (MoS)– Hardeep Singh Puri (Rajya Sabha, Uttar Pradesh), Som Parkash (Lok Sabha – Hoshiarpur, Punjab)

Edelweiss General Insurance Launched Digital Partner Onboarding Solution – IPOS

Edelweiss General Insurance(EGI), an InsurTech start-up has launched, Integrated Partner Onboarding Solution (IPOS) an industry-first digital end to end partner onboarding solution.

Objective: To digitise a partner’s journey with more efficiency.
About Edelweiss General Insurance:
It is a member of the Edelweiss Group
Headquarters – Mumbai, Maharashtra
Executive Director & CEO – Shanai Ghosh

PayPoint India tie-up with Digit General Insurance for Health Insurance to Rural Areas

PayPoint India made a partnership with Digit General Insurance to provide affordable COVID-19 Health Insurance policy to its customers in India’s underserved regions to improve the insurance access and assist the rural people in recovering themselves from financial losses due to the COVID-19.
About Digit General Insurance:
Headquarters – Bangalore, Karnataka
Chairman – Kamesh Goyal
CEO & Principal Officer – Vijay Kumar

SEBI Proposed Framework for Regulated Gold Exchange in India – Electronic Gold Receipt

The Securities and Exchange Board of India(SEBI) issued a Consultation Paper detailing the Proposed framework for the Gold Exchange in India and the draft SEBI (Vault Managers) Regulations, 2021 for regulating the gold exchange-related business of the Vault Managers. The Gold Exchange instruments are termed as “Electronic Gold Receipt” (EGR) With annual gold demand of ~800-900 tonne, India is the 2nd largest consumer of gold globally. (First – China)

Objective: Gold exchange(EGR) is intended to ‘one nation one price’ of gold

About Securities and Exchange Board of India (SEBI):

Establishment – On April 12, 1992, in accordance with the Securities and Exchange Board of India Act, 1992.
Headquarters – Mumbai, Maharashtra
Chairman – Ajay Tyagi

Sports

Arjan Singh Bhullar become first Indian-origin fighter to win MMA world champion

Indo-Canadian Mixed Martial Artist (MMA) Arjan Singh Bhullar defeated Brandon Vera to become the heavyweight world champion at the Singapore-based One Championship and became the first Indian-origin fighter to win an MMA world champion title. A former freestyle wrestler, Bhullar had won the 2010 Commonwealth games gold medal in New Delhi representing Canada.

India retain top spot in ICC Test Team rankings after annual update

India remained the number one Test side after the annual update of the ICC team rankings followed by New Zealand & England, Ravichandran Ashwin Remains In Second Position in ICC Test Player Rankings for Bowling, he is the only Indian bowler to feature in the top ten ICC rankings, Australian Bowler Pat Cummins who tops the list.

Miscellaneous

Europe’s Jupiter Spacecraft ‘JUICE’ enters Testing Phase

Jupiter Icy Moons Explorer (JUICE), an interplanetary spacecraft being developed by European Space Agency (ESA) has entered into a crucial testing phase. It is being tested at ESA’s European Space Research and Technology Centre (ESTEC) in the Netherlands. The Jupiter bound Spacecraft has been assembled by Airbus Friedrichshafen, Germany. It is set to be launched in 2022 on an Ariane 5 Rocket & is expected to reach Jupiter in 2029. The mission will study 3 of Jupiter’s Galilean moons – Europa, Callisto & Ganymede. It will investigate the conditions necessary for habitability.

European Space Agency (ESA)
Director General – Josef Aschbacher
Headquarters – Paris, France
Member states – 22

Reliance Jio constructing Largest International Submarine Cable System with India as Center

Reliance Jio Infocomm Ltd (Jio), a subsidiary of Jio Platforms Ltd is constructing the largest international submarine cable system with India as the center of the submarine cable system. It is the 1st time in history of Fiber optic submarine telecommunications that India will be at the centre of the International network map.
i.The submarine cable system will consist of 2 subsea cable systems – India-Asia-Xpress (IAX) connecting India to Singapore, and India-Europe-Xpress (IEX) connecting India to the Middle East and Europe.
ii.The subsea system will provide more than 200 TBPS (TeraBytes Per Second) of capacity spanning over 16, 000 Kilometres.
iii.The subsea cable systems are being constructed to support the growing data consumption needs in India.
iv.Reliance Jio will partner with SubCom, an world-class submarine cable supplier and other global firms for constructing the cables.
About Reliance Industries Ltd
Reliance Jio Infocomm Ltd (Jio) is an subsidiary of Reliance Industries
Headquarters – Mumbai, Maharashtra
Chairman and MD – Mukesh Ambani

Abhay Tewari Appointed as MD&CEO of SUD Life

Star Union Dai-ichi Life Insurance Company Ltd (SUD LIFE) announced the appointment of Abhay Tewari as Managing Director and Chief Executive Officer(MD&CEO) of SUD LIFE.
About Abhay Tewari:
He joined SUD LIFE in 2014 as Appointed Actuary and he was holding the position of Joint President – Corporate & Chief Actuary (overseeing Operations, Actuarial, Risk and Corporate Governance functions), until his appointment as MD& CEO of the company.
About Star Union Dai-ichi Life Insurance Company Ltd (SUD LIFE):
SUD LIFE is a joint venture of Bank of India, Union Bank of India and Dai-ichi Life Insurance Company Limited, Japan.
Establishment – 2009
Headquarters – Mumbai, Maharashtra
Non-Executive Chairman – Rajkiran Rai G.

Vandita Kaul Appointed as Nominee Director on Board of Bank of India

The Government of India has appointed Vandita Kaul as government nominee director on the board of directors of Bank of India.
i.Vandita Kaul has been working as an Additional Secretary in the Ministry of Finance, Department of Financial Services.
ii.Bank of India has a total of eight members on its board including,

· MD and CEO

· Four executive directors

· One nominee director from the government

· One nominee director from the RBI and

· One from the shareholder directors.

About Bank of India:
Establishment:7th September, 1906
Headquarters:Mumbai,Maharashtra.
Managing Director(MD) and Chief Executive Director(CEO):Atanu Kumar Das
Tagline:Relationship Beyond Banking

Baljeet Kaur and Gunbala Sharma Become the 1st Indian Women to Summit Mount Pumori.

Baljeet Kaur of Himachal Pradesh and Gunbala Sharma of Rajasthan have become The First Indian Women Mountaineers to Summit Mount Pumori in Nepal.

About Nepal:
Nepal has the highest mountain in the world, Mount Everest as well as 1,310 peaks over 6,000 m height.
President: Bidya Devi Bhandari
Capital:Kathmandu
Currency:Nepalese Rupee (NPR)

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