Current Affairs

1 April, 2021

International

Facebook & Google to set-up Underground Cables to connect USA with Southeast Asia

Facebook has partnered with Google & other regional telecom companies to connect the United States of America with Southeast Asian countries through undersea cables. These underground cables will improve internet connectivity in Singapore, Indonesia. At the initial stage, 2 undersea cables: Echo and Bifrost, will be connecting the US with Indonesia through a diverse sea route in the Trans-pacific region.
About Facebook:
With over 320 million users, India is the largest market in the world for Facebook.
Founder & CEO- Mark Zuckerberg
Established- 2004
Headquarters- California, United States

Nirmala Sitharaman attends 6th Annual Meeting of Board of Governors of New Development Bank 2021

Union Minister of Finance, Nirmala Sitharaman attended the 6th Annual meeting of the Board of Governors of New Development Bank (NDB, formerly known as BRICS Development Bank), 2021 through video-conference in New Delhi. Due to pandemic, the Annual meeting took place in a virtual format.
Theme of Annual Meeting – ‘New Development Paradigms: The Evolution of Infrastructure’. Participants – Governors/Alternate Governors of Brazil, China, Russia & South Africa.
About New Development Bank (NDB):
President – Marcos Prado Troyjo
Headquarters – Shanghai, China

National

MEA’s Think Tank ‘India Centre for Migration (ICM)’ celebrates Foundation Day on March 27

India Centre for Migration (ICM), a Think-Tank set up by the Ministry of External Affairs (MEA) celebrated its foundation day on March 27, as part of India@75 celebrations. An event was held to celebrate the foundation day of ICM. During the event 2 Knowledge products were launched. They are A Report on ‘The Impact of COVID-19 on India’s International Migration’ Report on ‘Student Handbook for Studying Abroad’
i.It aims to create awareness regarding mobility of Indian workforce as well as the student community aspiring for opportunities abroad.
ii.The foundation day celebrations are part of India@75 celebrations
About India Centre for Migration (ICM):
Chairman – Sh.Sanjay Bhattacharyya
Head Office – New Delhi

MEA’s Think Tank ‘India Centre for Migration (ICM)’ celebrates Foundation Day on March 27

India Centre for Migration (ICM), a Think-Tank set up by the Ministry of External Affairs (MEA) celebrated its foundation day on March 27, as part of India@75 celebrations. An event was held to celebrate the foundation day of ICM. During the event 2 Knowledge products were launched. They are A Report on ‘The Impact of COVID-19 on India’s International Migration’ Report on ‘Student Handbook for Studying Abroad’
i.It aims to create awareness regarding mobility of Indian workforce as well as the student community aspiring for opportunities abroad.
ii.The foundation day celebrations are part of India@75 celebrations
About India Centre for Migration (ICM):
Chairman – Sh.Sanjay Bhattacharyya
Head Office – New Delhi

Indian Navy’s INAS 310 celebrates Diamond Jubilee

Indian Naval Air Squadron (INAS) 310, popularly known as the ‘Cobras’ celebrated its Diamond Jubilee on 21st March 2021. The air squadron was commissioned in 1961 in France. It has been continuously serving Indian Navy from INS Hansa for the last 60 years. INAS 310, equipped with Surveillance & Electronic Warfare equipment continuously monitors Indian Coastline. INAS 310 has participated in Operation Vijay (1961), Indo-Pakistani War (1965), Indo-Pakistani War (1971), Operation Pawan (1987), Kargil War (1999) and Operation Parakram (2001-02).

India, Japan sign 4 Pacts to support Healthcare projects under GGP Scheme

India & Japan signed 4 Agreements worth ~ 29.30 Million Yen (~ INR 1.93 Crores/~ USD 265,000). Under these agreements, Japan will support Healthcare projects funded under the Grant Assistance for Grassroots Projects (GGP) scheme in India. India is one of the largest recipients of Japanese Official Development Assistance (ODA) besides Bangladesh & Vietnam in Asia.
i.The Recipients & Funds for Four Projects are 7.4 Million Yen (~ INR 48.89 Lakhs) for Medical Equipments to Anchal Charitable Trust, Ghaziabad, Uttar Pradesh (UP).
About Japan:
Capital– Tokyo
Currency– Japanese yen
Prime Minister– Yoshihide Suga

Indo-US Joint Special Forces Exercise ‘VAJRA PRAHAR 2021’ conducted at Bakloh, Himachal Pradesh

The 11th Edition of the India-US Special Forces Exercise ‘Vajra Prahar 2021’ was conducted at Special Forces Training School at Bakloh, Himachal Pradesh in March, 2021. The main objective of the exercise is to enhance interoperability between the Special Forces of the two countries. Vajra Prahar is conducted alternatively between India & US to share best practices & experiences in areas like Joint Mission Planning & Operational Tactics. The navies of India & United States conducted a 2-day Passage Exercise ‘PASSEX’ in Bay of Bengal (Eastern Indian Ocean Region) from March 28-29, 2021.

NITI Aayog releases report titled ‘Investment Opportunities in India’s Healthcare Sector’

NITI Aayog Member Dr VK Paul, CEO Amitabh Kant, and Additional Secretary Dr Rakesh Sarwal released a report titled ‘Investment Opportunities in India’s Healthcare Sector’. The report highlights the range of investment opportunities in different segments of India’s Healthcare sector.
i.As per the report, Investments in the Healthcare sector are expected to reach USD 372 Billion in 2022. The FDI inflows in the sector increased from USD 94 million in 2011 to USD 1, 275 million in 2016 (a jump of over 13.5 times). The sector has been growing at a CAGR (Compound Annual Growth Rate) of 22% since 2016, providing direct employment to around 4.7 Million People. It has the potential to generate 2.7 Million additional jobs in India between 2017-22 (over 500, 000 new jobs per year).
About NITI Aayog:
Chairperson – Prime Minister (Narendra Modi)
CEO – Amitabh Kant
Headquarters – New Delhi

Economy

Noted Marathi Writer Dr Sharankumar Limbale To Receive Saraswati Samman 2020

KK Birla Foundation has selected well known Marathi writer Dr. Sharankumar Limbale, as the recipient of Saraswati Samman 2020 for his 2018 Marathi novel titled “Sanatan”.
The Saraswati Samman 2020 marks the 30th Saraswati Samman.
The book – Sanatan, features the story of socio-cultural struggles of the untouchables.

NSE Academy Signs MoU with GIFT SEZ Limited

NSE Academy Limited (NAL), wholly owned subsidiary of the National Stock Exchange(NSE) signed a Memorandum of Understanding(MoU) with GIFT Special Economic Zone (SEZ) Limited, a wholly owned subsidiary of Gujarat International Finance Tec-City Co. Ltd(GIFT city) to mentor financial services professionals in GIFT City.
About NSE Academy Limited:
Managing Director & CEO– Abhilash Misra
Established in 12th March 2016
Headquarters– Mumbai, Maharashtra

NPCI set 30% market cap on UPI Transactions for TPAPs with Exemptions

National Payments Corporation of India (NPCI) has defined its guidelines and exemptions on the 30% market cap on Unified Payments Interface (UPI) transactions for third-party app providers (TPAPs) to limit the volume and value of transactions per customer.
About National Payments Corporation Limited (NPCI):
MD & CEO – Dilip Asbe
Headquarters – Mumbai, Maharashtra

Ujjivan SFB Collaborates with nStore to Digitise Offline Retailers And Small Businesses

i.Ujjivan Small Finance Bank(Ujjivan SFB) partnered with nStore to digitise offline retailers and small businesses in India.
ii.Under this collaboration, Ujjivan SFB will offer the mobile application ‘nLincs’ to its current account holders who own local businesses and enable them to sell their products online.
iii.The local businesses and retailers can register online and host their product catalogue on the mobile application – ‘nLincs’.
About Ujjivan Small Finance Bank(Ujjivan SFB):
Managing Director & CEO– Nitin Chugh
Headquarters– Bengaluru, Karnataka
Tagline– Build a Better Life
About nStore:
CEO– Pradeep Sampath
Headquarters- Chennai, Tamil Nadu

RBL collaborated with Tide to serve Indian SMEs

RBL Bank, a Private sector lender, collaborated with UK based business banking fintech Tide to provide bank account infrastructure to Tide’s India platform, which is focused to serve mainly small and medium enterprises(SMEs). Tide’s first market outside the UK, is India due to its vast SME population of around 63 million, and the people’s entrepreneurial spirit. Gurjodhpal Singh the former vice president of PayU (Payment Service Provider) will lead Tide’s business in India.
About RBL Bank:
MD & CEO – Vishwavir Ahuja
Headquarters – Mumbai, Maharashtra
Tagline– Apno Ka Bank

Sports

‘Girl Gang’ Announced Official Song Of ICC Women’s World Cup 2022

Girl Gang, a track by New Zealand singer Gin Wigmore, has been announced as the official song of the 2022 ICC Women’s World Cup. The tournament is set to be hosted in New Zealand from March 4 to April 3, 2022. Originally scheduled to be held from February 6 to March 7, 2021, the World Cup was postponed by a year due to the Covid-19 pandemic.

India tops the medals tally with 15 gold at Delhi ISSF Shooting World Cup

India finished at the top of the medals table at the 2021 ISSF World Cup New Delhi, held from 18 to 29 March 2021 at the Dr Karni Singh Shooting Range in New Delhi. India secured 30 medals which included 15 gold, 9 silver and 6 bronze. The USA came second with eight medals including four gold, three silver and one bronze.

Miscellaneous

CBIC introduces ICEGATE a Common Portal for filing Registrations & Bills of Entry

The Central Board of Indirect Taxes & Customs (CBIC) notified to regulate all registrations, filing of bills of entry, and other documents through a single portal, “ICEGATE portal”. Aim – To facilitate ease of doing business in the country through transparent & seamless online mode. ICEGATE or Indian Customs and Central Excise Electronic Commerce/Electronic Data Interchange (EC/EDI) Gateway is a single portal for all customs documentation & duty payments.
About Central Board of Indirect Taxes and Customs (CBIC):
Chairperson- M. Ajit Kumar
Headquarters- New Delhi

DPIIT upgrades Industrial Entrepreneur Memorandum (IEM) portal

The Department of Promotion of Industry & Internal Trade (DPIIT), has revamped its Industrial Entrepreneurs Memorandum (IEM) portal for enhancing ease of doing business in India through foul proof & transparent company’s registration. From now on, every company will be provided with a single IEM to capture details of all its locations & centers.
About Department of Promotion of Industry & Internal Trade (DPIIT):
Parent Ministry– Ministry of Commerce and Industry
Secretary– Guruprasad Mohapatra
Founded- 1995

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