Current Affairs

23 August, 2021

International

Indifi Partners with Facebook India to Launch 1st of its Kind Small Business Loans Programme

Indifi, technology-based lending platform has partnered with Facebook India to launch 1st of its Kind Small Business Loans Programme. It will provide loans worth INR 5 lakh to 50 lakh for Small Businesses advertising in Facebook’s Platform. The loans will bear an interest rate of 17-20% and 0.2% additional reduction in the interest rate for the businesses owned by Women either partly or Wholly. The loans will be processed within 5 working days if the borrower submits the documents, without requiring any collateral. Indifi will decide on the eligibility criteria of the borrowers such as Creditworthiness & bear the risk of Loan defaults. Facebook will show its Advertisers about the programme and It won’t get involved in determining the eligibility of the borrowers, recovery etc..

About Indifi
MD & CEO – Alok Mittal
Headquarters – Gurugram, Haryana
About Facebook
Chief Executive Officer (CEO) – Mark Zuckerberg
Headquarters – California, United States of America

Shanghai Ranking’s ARWU 2021: IISc Bangalore Topped in India;Harvard University Topped Globally

Shanghai Ranking Consultancy released Academic Ranking of World Universities(ARWU) 2021 ranking for higher education Institutes. The Indian Institute of Science (IISc) Bangalore was selected as the best university in the country and University of Calcutta secured 2nd rank. Globally, Harvard University Topped the ranking & followed by Stanford University, University of Cambridge.

InstituteRankIndian Institute of Science (IISc) Bangalore1st (401-500)University of Calcutta2nd (601-700)GLOBAL RANKINGHarvard University1stStanford University2ndUniversity of Cambridge3rd
About Academic Ranking of World Universities (ARWU):
Academic Ranking of World Universities (ARWU) was first published in June 2003 by the Center for World-Class Universities (CWCU), Graduate School of Education (formerly the Institute of Higher Education) of Shanghai Jiao Tong University, China, and updated on an annual basis. Since 2009 the Academic Ranking of World Universities (ARWU) has been published and copyrighted by Shanghai Ranking Consultancy.

National

AMTRON, Israel’s Corsight AI signs MoU to Set up AI Centre of Excellence at Tech City in Guwahati

Assam Electronics Development Corporation Limited (AMTRON) has signed a Memorandum of Understanding (MoU) with Corsight AI, Israel based Software company to set up a Artificial Intelligence (AI) Centre of Excellence at Tech city in Guwahati, Assam.

Objective: To provide facial recognition services through AI for the most challenging conditions such as recognising faces in extreme angles, moving crowds, low quality images, partially covered faces and others with personal privacy protection The MoU will establish a strong Facial Recognition Technology Development & Services portfolio which also includes setting up Facial Recognition Centre of Excellence (FR-CoE) I-Sec will be the strategic partner for AMTRON in this partnership. I-Sec offers modern technologies & solutions across all sectors from defence to space.

About Assam Electronics Development Corporation Limited (AMTRON)
Chairman – Ramendra Narayan Kalita
Headquarters – Guwahati, Assam
About Israel
Prime Minister – Naftali Bennett
Capital – Jerusalem
Currency – Israeli Shekel

Tiwa tribe of Karbi Anglong district, Assam celebrated Wanchuwa Festival 2021

The Tiwa tribal community living in the hills celebrated the Wanchuwa festival 2021 in Morten Village in Karbi Anglong District of Assam. This festival is related to agriculture as it marks a good harvest and also involves prayers for protection from pests and natural calamities. On this day Tiwa tribesmen perform their traditional dance in their native attire along with a bunch of rituals performed by people clad in their native attires.

About Tiwa Tribe: Also known as Lalung tribe, Tiwa tribe’s people are a part of Bodo Kachari group. They mainly live in Assam and Meghalaya and also found in some parts of Arunachal Pradesh and Manipur. The word ‘Ti’ means water and ‘Wa’ means superior.

India finalizes deal with Russia to buy AK-103 Rifles under Emergency Procurement

India finalized a deal with Russia for the procurement of a sizeable number of AK-103 series of assault rifles for the Indian Army under the provisions of emergency financial powers granted to the three services to make urgent purchases. This deal is on the lines of the mega infantry modernisation programme by the Indian Army for the replacement of its ageing and obsolete weapons with a large number of light machine guns, battle carbines and assault rifles. No specification on the number of rifles or the cost of procurement has been provided.

Background: In October 2017, the Indian Army began the process to acquire around 7 lakh rifles, 44,000 light machine guns (LMGs) and nearly 44,600 carbines to further enhance the combat capability of the Army.
Points to be noted: i.In September 2020, Ministry of Defence and Russian representatives inked a major deal for manufacturing ~ 6 lakh AK-47 203 rifles in India under ‘Make-in-India’ programme. These will be manufactured by the Indo-Russia Rifles Pvt. Ltd, a joint venture between the Ordnance Factory Board (OFB), the Kalashnikov Concern (manufacturer of the AK rifles) and Rosoboronexport, the Russian state agency for military exports.
ii.The AK-47 203 is the latest and most advanced version of the AK-47 rifle, which will replace the Indian Small Arms System (INSAS) 5.56×45 mm assault rifle that are currently in use with the Army, Navy and the Air Force.
About Russia:
It is the largest country in the world by area. Its Lake Baikal is the deepest and oldest lake in the world, and the largest freshwater lake by volume.
Capital– Moscow
Currency– Russian Ruble
President– Vladimir Vladimirovich Putin

2nd ‘Zair-Al-Bahr’ Maritime Exercise 2021 conducted between India and Qatar

i.The 2nd edition of Bilateral Maritime Exercise Zair-Al-Bahr (Roar of the Sea) 2021 between the Indian Navy and Qatar Emiri Naval Force (QENF) was conducted in the Persian Gulf.
ii.It consisted of a three day harbour phase followed by a two day sea phase.
iii.Indian Navy Guided Missile Stealth Frigate INS (Indian Naval Ship) Trikand arrived at Qatar’s capital city, Doha for participation in the sea phase. It was commanded by Captain Harish Bahuguna.
About Indian Navy:
Chief of Naval Staff (CNS)– Admiral Karambir Singh (24th)
Integrated Headquarters of Ministry of Defence (Navy)- New Delhi

Economy

Razorpay, Capital Float Partnered for BNPL Solution Walnut 369

Fintech startup Capital Float Financial Services Pvt. Ltd partnered with Razorpay to extend its ‘buy now, pay later’ (BNPL) solution, the Walnut 369 to all Razorpay-enabled online merchants.

Objective: Capital Float plans to extend its BNPL solutions to over 1 lakh partners and serve customers in 100 cities across India. Under the partnership, through Walnut 369, the customers could sign up while shopping, and get instant credit with zero documentation option. The customers could pay for purchases over 3, 6 or 9 months. The partnership will support online shoppers and new-to-credit customers. Through its Walnut app, the Capital Float also offers loans, insurance and personal finance management. Amazon India, Makemytrip, Spicejet, BoAT, Flo Mattresses, GoMechanic, Unacademy and Skullcandy were the latest brands that are included in Capital Float’s portfolio.

About Razorpay:
Headquarters – Bangalore, Karnataka
CEO & Co-Founder – Harshil Mathur.
About Capital Float Financial Services Pvt. Ltd;
Establishment – 2013
Headquarters – Bangalore, Karnataka

NIPL Partnered With Mashreq Bank to Offer UPI Payments in UAE

NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI), has partnered with the UAE (United Arab Emirates)-based Mashreq Bank to provide the Unified Payments Interface (UPI), the mobile-based real-time payment system, in the UAE. The partnership will support more than 2 million Indians, who are travelling to the UAE to make payments using UPI for their purchases in shops and merchant stores across UAE. The acceptance of UPI would boost the digital payment ecosystem in the UAE and also enable the wider reach of UPI in the international markets.

Partnership with Bhutan:
i.In July 2021, NIPL in partnership with the Royal Monetary Authority (RMA) of Bhutan implemented the Bharat Interface for Money (BHIM) UPI QR-based payments in Bhutan.
ii.Bhutan became the 1st country to adopt India’s UPI standards for its QR deployment. Click here to know more
About NPCI International Payments Limited (NIPL):
It is a wholly-owned subsidiary of NPCI, devoted to the deployment of NPCI’s indigenous, Real-Time Payment System – UPI and Card Scheme – RuPay, outside India.
Establishment – April 3, 2020
Headquarters – Mumbai, Maharashtra
CEO – Ritesh Shukla

Sports

Anurag Thakur launched Theme Song ‘Kar De Kamaal Tu’ for Paralympics

Union Sports Minister, Anurag Thakur has launched the Theme Song, ‘Kar De Kamaal Tu’ for India’s Paralympic Contingent at the 2020 Tokyo Summer Paralympics Games.
The song is composed & sung by Sanjeev Singh, Divyang Cricket Player. .
About International Paralympic Committee
President – Andrew Parsons
Headquarters – Bonn, Germany

Overview of Tokyo 2020 Summer Paralympic Games

The Tokyo 2020 Summer Paralympic Games will be held from 24th August – 5th September, 2021. The official Mascot is ‘Someity’. For the 1st time, Badminton & Taekwondo will be Introduced by replacing Sailing and 7-a-side football.

India sends largest ever contingent for Paralympics
India will field their largest contingent ever in the 2020 Tokyo Paralympics A total of 54 Athletes will compete in 9 Sporting events. Only 19 Indian Athletes competed in the 2016 Rio Paralympics. The 9 events are Archery, Athletics, Badminton, Para Canoeing, Powerlifting, Shooting, Swimming, Table Tennis and Taekwondo.

High Jumper Mariyappan Thangavelu (Won Gold at the 2016 Rio Paralympics) will be the flag-bearer of India in the opening ceremony of the Tokyo Paralympics.

Miscellaneous

12 Indian companies in the top-500 list of Hurun Global 500 Most Valuable Companies 2021

Hurun Global 500 List 2021 released by Hurun Research Institute.It is a list of the 500 most valuable non-state-controlled companies in the world ranked according to their value, defined as market capitalization for listed companies and valuations for non-listed companies.Reliance Industries Ltd topped the list of Indian companies with a global rank 57. As per the Hurun Global 500 Most Valuable Companies list 2021, Apple is the world’s most valuable company (USD 2,443 billion) and followed by Microsoft (USD 2114 billion) and Amazon (USD 1802 billion) got the 2nd and 3rd place in the list respectively. 12 Indian companies has listed in the Hurun Global 500 Most Valuable Companies 2021. India is ninth by the number of companies featured on the list, which is led by the U.S. (243) and followed by China (47), Japan (30) and the U.K.

The ranking of companies like Tata Consultancy Services(TCS), HDFC Bank, HDFC and Bharti Airtel declined compared to the previous year.

Mahatma Gandhi: 1st Indian to posthumously conferred with Congressional Gold Medal

Mahatma Gandhi, the first Indian to posthumously receive the Congressional Gold Medal for his immense contribution to promote peace and non-violence. The congressional Gold Medal is the highest civilian award in the United States.

About the Award: The US Congress (legislature) has commissioned gold medals as its highest expression of national appreciation for distinguished achievements and contributions. The first recipients of the medal were participants of the American Revolution (1775-83), the War of 1812 and the Mexican War (1846-48). The scope was broadened to include actors, authors, entertainers, musicians, explorers, athletes, humanitarians and foreign recipients among pioneers in some other fields. It has been awarded to the 1980 US summer Olympics team, Robert F. Kennedy, Nelson Mandela,Mother Terasa and George Washington among many others. Most recently, the medal was awarded to the US Capitol Police and those who protected the US Capitol on 6th January 2021, the day of the siege.

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