Current Affairs

24 April, 2021

International

Boao Forum for Asia Annual Conference 2021 held in China

The Boao Forum for Asia (BFA) Annual Conference 2021 took place in Boao, South China’s Hainan Province from April 18-21, 2021. The meeting was held in offline mode, while several global leaders participated virtually in it.
i.Theme – A World in Change : Join Hands to Strengthen Global Governance and Advance Belt and Road Cooperation.
ii.Participants – Around 2500 participants from 60 countries participated in the event. Asian Leaders such as Moon Jae-in, President of South Korea, Joko Widodo, President of Indonesia, Gotabaya Rajapaksa, President of Sri Lanka & Sheikh Hasina, Prime Minister of Bangladesh virtually participated in the meeting.
About Boao Forum for Asia (BFA)
Secretary General – Li Baodong
Headquarters – Beijing, China

India’s Demographic Growth Transition will overtake China’s by 2035 : Central Bank of China

According to a report by People’s Bank of China (PBOC), China’s Central Bank, India’s Demographic Advantage (% of Younger Population) will overtake China’s Demographic Advantage by 2035. The reason for the fall in China’s Demographic Advantage is due to its strict Birth policies, which has created the problems of ageing population and a declining work-force. The report has called for China to liberalise its birth policy to tackle the problem of ageing population, it has to compete with a demographically young India & US (which has a young population due to immigrants). India has one of the youngest populations in an ageing world. Around 90% of its population are under the age of 60, out of which ~ 35% is under 19 years old.
About People’s Bank of China (PBoC)
Governor – Yi Gang
Headquarters – Beijing, China
Established Date – December 1, 1948

National

CEA, CEEW launch Dashboard for Information on Renewable Projects in India

The Central Electricity Authority (CEA) & CEEW’s CEF (Council on Energy, Environment and Water – Centre for Energy Finance) have launched the ‘India Renewables Dashboard’. The dashboard will provide detailed operational information on Renewable Energy (RE) projects in India. The dashboard is supported by the Shakti Sustainable Energy Foundation & was launched by Sandesh Kumar Sharma, member (planning) of CEA. It captures daily generation data at the state, regional and national levels for aggregate 93 GigaWatts (GW) of installed RE capacity in India.
About Central Electricity Authority (CEA)
It comes under the Ministry of Power
Chairperson – P.S. Mhaske
Head Office – New Delhi
Council on Energy, Environment and Water (CEEW)
CEO – Arunabha Ghosh
Head Office – New Delhi

MeitY announces #FOSS4GOV, Innovation Challenge to boost adoption of Free & Open Source Software

Ministry of Electronics and Information Technology (MeitY) has announced an Innovation Challenge #FOSS4GOV to accelerate the adoption of Free and Open Source Software (FOSS) in Government. It calls on FOSS innovators, technology entrepreneurs and Indian Startups to submit open source product innovations in CRM (Customer Relationship Management) & ERP (Enterprise Resource Planning).
About Ministry of Electronics & Information Technology (MeitY)
Union Minister – Ravi Shankar Prasad (Lok Sabha – Patna Sahib, Bihar)
Minister of State – Sanjay Dhotre (Lok Sabha – Akola, Maharashtra)

Economy

RBI Cancelled the Licence of Bhagyodaya Friends Urban Co-operative Bank

The Reserve Bank of India (RBI) has cancelled the license of Bhagyodaya Friends Urban Co-operative Bank Limited, Maharashtra in April 2021, as the bank doesn’t have adequate capital to fund its depositors in full and as it did not comply with the various provisions of the Banking Regulation Act, 1949.
Restriction: After the license has been cancelled, the bank is prohibited from acceptance of deposits and repayment of deposits.
About Reserve Bank of India (RBI):
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
Deputy Governors – Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeshwar Rao

Indian Bank Partners with Chennai Angels to support Start-ups

In order to extend support to Start-ups under the program ‘IND Spring Board’, Indian Bank made an agreement with The Chennai Angels, an angel investment group on April 22, 2021.
About IND Spring Board: Purpose: To support Start-ups for the expansion of their commercial production. Credit Facility to start-up: Under this programme, Indian Bank will provide credit facilities of up to Rs 50 crore for working capital requirements and also provide term loan requirements for acquiring fixed assets for their unit.
About Angel Investors:
An angel investor (also known as a private investor, seed investor, or angel funder) is a high-net-worth individual who provides financial service for small startups or entrepreneurs, typically in exchange for ownership equity in the company.
About Indian Bank:
Establishment– 1907
MD&CEO – Padmaja Chunduru
Headquarters– Chennai, Tamil Nadu
Tagline– Your Own Bank

BFSL, Mastercard Launched QR on Card Program – ConQR to Support SMEs

The Mastercard and Bank of Baroda Financial Solutions (BFSL), a wholly-owned subsidiary of Bank of Baroda came together to launch ‘ConQR’ – a Mastercard QR on Card solution to simplify digital payments of Small and medium-sized enterprises (SMEs).
About ConQR:
The ConQR Credit Card will have a Bharat QR Code on the card face (as part of the card personalisation process), and it will works based on a Mastercard patented technology.
The QR Code will also carry the small businesses’ details thus making it easier for small businesses to receive digital payments.
Availability: ConQR card will be first offered to small businesses that currently use BoB’s acceptance solutions, and later it will be available to all existing and new customers of BoB.
About BOB Financial Solutions Limited:
Establishment – 1994
Headquarters – Mumbai, Maharashtra
MD&CEO – Shailendra Singh

HSBC India ties up with Google Pay and Visa for tokenization on its credit card

HSBC India has partnered with Google Pay(GPay) and Visa to provide a secured tokenization on its credit cards. Because of this partnership, contactless payments can be done by linking HSBC credit cards in Google Pay and it will help to avoid physical contact for payment. This is done based on the principle of NFC(Near Field Communication),QR pay and in-app purchase
About HSBC India:
Chief Executive Officer: Surendra Rosha
Headquarters: Mumbai,Maharashtra
About Google Pay:
Parent company: Google
Founders: Sujith Narayanan and Sumit Gwalani

BRICS’ NDB Issued USD 1.5 billion Benchmark Bond

In April 2021, the New Development Bank (NDB) of BRICS (Brazil, Russia, India, China, and South Africa) issued a USD 1.5 billion benchmark bond with 5 years of maturity. This is the 3rd USD benchmark bond offering of NDB in the international markets.
Purpose: NDB will use the total earnings of the Bond for financing sustainable development activities and to provide COVID-19 Emergency Program Loans to the member countries (BRICS).
Summary of the Bond :
Issuer NDB
Size USD 1.5 billion
Maturity 5 years

Yield 1.154% annual / 1.151% semi-annual
Coupen 1.125% per annum

Lead managers Citigroup Global Markets Ltd, HSBC London PLC, Industrial and Commercial Bank of China (Asia) Ltd, J.P. Morgan P, Standard Chartered Bank UK, TD Securities (Canada) Inc.
About New Development Bank (NDB):
Establishment – 2014 (Operational from 2016)
Headquarters -Shanghai, China
President – Marcos Prado Troyjo

Sports

IPL Schedule 2021: Check Full IPL Schedule, IPL 2021 Time Table, Teams and Venue

IPL Schedule 2021: The Rajasthan Royals (RR) will take on Kolkata Knight Riders (KKR) at 7. 30 pm at the Wankhede stadium in Mumbai on April 24, 2021. In the previous match, KL Rahul-led Punjab Kings, who were reeling from three defeats, beat Rohit Sharma-led Mumbai Indians by 9 wickets.

Punjab Kings skipper KL Rahul with 60 runs not out off 52 balls won the Player of the Match for seeing his team through successful chase. He was supported by Chris Gayle at the other end, who also stayed not out with 43 runs.

Tennis : Stefanos Tsitsipas wins 2021 Monte-Carlo Masters Title

Stefanos Tsitsipas of Greece defeated Russia’s Andrey Rublev to win the 2021 Monte-Carlo Masters Title, an ATP Masters 1000 title. It is his Maiden Masters 1000 Title. In the Doubles Category, Croatian Pair of Nikola Mektic and Mate Pavic won the Doubles Title by defeating Neal Skupski & Daniel Evans of UK. The Monte-Carlo Masters tournament was held from April 10-18, 2021 at Roquebrune-Cap-Martin, France.
About Association of Tennis Professionals (ATP)
CEO – Massimo Calvelli
Headquarters – London, United Kingdom

Miscellaneous

Ashok Leyland delivers 1st set of Light Bulletproof Vehicles to IAF

Hinduja Group owned Ashok Leyland delivered the first batch of Light BulletProof Vehicles (LBPV) to the Indian Air Force (IAF). The LBPVs have been developed using ‘Transfer of Technology’ from Lockheed Martin to Ashok Leyland. The vehicles are completely indigenised and developed in India. They are an adapted version of Lockheed Martin’s CVNG (Common Vehicle Next-Generation). They are capable of providing protection to crew members from both ballistic and blast threats.

Roscosmos, Russia’s Space Agency to Launch its Own Space Station in 2025

Roscosmos, the Space Agency of Russia is set to launch its own Space Station in 2025. Roscosmos’s work on the first module of the new space station is in progress. The space module is being assembled by the Energia corporation with the cost estimation of 5 billion USD. This is associated with Moscow’s consideration of withdrawing from the International Space Station(ISS)programme as its agreement with the international partners expires in 2024.

Rekha Menon becomes 1st woman Chairperson of NASSCOM

Accenture India’s Chairperson and Senior Managing Director Rekha Menon has been appointed as the Chairman of IT industrial body ,National Association of Software and Services Companies(NASSCOM) for 2021-22.
About National Association of Software and Services Companies(NASSCOM):
Establishment: 1st March 1988
President: Debjani Ghosh
Headquarters: Noida,Uttar Pradesh

Maharashtra’s Priyanka Mohite becomes first Indian woman to scale Mt Annapurna

A 28-year-old Priyanka Mohite from Maharashtra becomes the first Indian woman to scale Mt Annapurna(8,091 metres), the 10th highest mountain peak in the world. She also climbed the world’s highest peak Mount Everest (8,849 metres) in 2013, Mount Lhotse (8,516 metres) in 2018, Mount Makalu (8,485 metres) and also Mount Kilimanjaro (5,895 metres) in 2016. Annapurna is a massif in the Himalayas located in Nepal.

Filmmaker Roberto Benigni won Venice Film Festival’s Lifetime Achievement award

Oscar award winning Italian director as well as an actor Roberto Benigni has been conferred with the Golden Lion Award for Lifetime Achievement at the 78th Venice International Film Festival. His career best movie was Life is Beautiful, which was released in the year 1997 film which fetched him the best actor and best international film Oscars.

Rumana Sinha Sehgal won the Nelson Mandela World Humanitarian Award 2021

Rumana Sinha Sehgal, Software engineer turned entrepreneur from Hyderabad, Andhra Pradesh, won the Nelson Mandela World Humanitarian Award 2021 by the Diplomatic Mission Global Peace. She was virtually awarded for her contribution to the field of developing innovative and functional green products by recycling varied materials and non biodegradable materials.

Vibha Harish Founder of Bengaluru based Cosmix Featured in Forbes 30 Under 30 Asia 2021

i.Forbes launched the 6th annual Forbes 30 under 30 Asia list. 25 years old Vibha Harish, the founder of Cosmix, a Bengaluru based health supplement brand is featured on the Forbes 30 under 30 Asia 2021 list.
ii.HarshilMathur the co-founder and CEO of Razorpay, a leading Fintech Unicorn, is featured on the Forbes 30 Under 30 Asia 2021 list under the Finance & Venture Capital category.
iii.The 2021 list features 300 young Entrepreneurs and Trailblazers under the age of 30 from across Asia who faced the challenges of the pandemic and found new opportunities amid the new normal.
iv.The list is announced for 10 categories each honouring 30 individuals under the age of 30.

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Daily Current Affairs | 27th November 2021

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