Current Affairs

25 December, 2021

International

WADA Report: India Ranked 3rd Among Dope Violators; Russia Tops

World Anti Doping Agency(WADA) has published its latest Report titled “2019 Anti-Doping Rule Violations (ADRVs) Report”, compiled based on decisions received by WADA before 31 January 2021. India ranked 3rd among dope violators in the world with 152 (17 per cent of the world total) ADRVs.Bodybuilding(57), Weightlifting(25), and Athletics(20) has recorded the more number of dope offenders in India. Russia tops the list with 167 ADRVs, followed by Italy with 157 ADRVs. Brazil (78) and Iran(70) has ranked 4th and 5th respectively.

National

PM Modi Transferred Rs 1000 Crore under DAT-NRLM to Bank Accounts of SHGs

Narendra Modi, Prime Minister(PM) of India addressed the gathering of women beneficiaries of several government scheme at Prayagraj district of Uttar Pradesh(UP) and transferred Rs 1000 crore into the bank accounts of the women Self Help Groups(SHGs) in UP. The amount was transferred under the Deendayal Antyodaya Yojana- National Rural Livelihood Mission(DAY-NRLM). This will benefit around 16 lakh rural women in UP and make them self reliant and financially independent. 80000 SHGs received a Community Investment Fund(CIF) of Rs 1.10 lakh per SHG and 60000 SHGs received a Revolving Fund of Rs 15000 per SHG.

Tribal Affairs Minister Arjun Munda Launched Different Projects of TRIFED

The Union Minister of Tribal Affairs, Arjun Munda launched several ambitious projects of TRIFED (Tribal Co-operative Marketing Development Federation of India) including the launch of the TRIFED VanDhan Chronicle, 14 Honey Farmer Producer Organizations and an MoU (Memorandum of Understanding) with UNICEF (United Nations Children’s Fund) to boost Tribal Samvaad Network.

Participants: Ramsinh Rathwa, Chairman TRIFED, Yasumasa Kimura, UNICEF India, and Pravir Krishna, Managing Director, TRIFED, have participated in the launch event.

About Ministry of Tribal Affairs:

Union Minister – Arjun Munda (Constituency – Khunti, Jharkhand)
Minister of State – Renuka Singh Saruta (Constituency – Surguja, Chhattisgarh), Bishweswar Tudu (Constituency – Mayurbhanj, Odisha)

India and Maldives Jointly Launches Pilot Project On Pre-arrival Customs Data Exchange

India and Maldives signed a Memorandum of Understanding (MoU) between the customs of two countries for the joint launch of a pilot project on ‘pre-arrival customs data exchange’ in a virtual ceremony. It was Launched by Vivek Johri, Chairman Central Board of Indirect Taxes and Customs (CBIC) and Abdulla Shareef, Commissioner General, Maldives Customs Service.
About Maldives:
Capital – Male
Currency – Maldivian Rufiyaa
President – Ibrahim Mohamed Solih

Economy

SEBI Restructures its Advisory Committees on Secondary Markets, Mutual Funds, Corporate Bonds

Securities and Exchange Board of India (SEBI) has restructured its advisory committees that includes the secondary market, mutual funds, corporate bonds and securitisation, Information Systems.

About Securities and Exchange Board of India (SEBI):

Chairperson – Ajay Tyagi
Established – 12th April 1992, in accordance with SEBI Act, 1992
Headquarters – Mumbai, Maharashtra

SEBI Signs EMMoU of International Organization of Securities Commissions

The Securities and Exchange Board of India (SEBI) has signed the Enhanced Multilateral Memorandum of Understanding (EMMoU) of the International Organization of Securities Commissions (IOSCO).

Objective: To have a suitable cooperation arrangement, the EMMoU was introduced by IOSCO to expand the range of enforcement powers that signatories may use to safeguard the integrity and stability of markets, protect investors and deter misconduct and fraud.
About Securities and Exchange Board of India (SEBI):
Establishment – 1992
Headquarter – Mumbai, Maharashtra
Chairman – Ajay Tyagi

RBI Extends CoF Tokenisation Deadline till June 2022

The Reserve Bank of India (RBI) extended the card-on-file (CoF) tokenisation deadline by 6 months i.e. to June 30, 2022. Earlier the deadline was fixed till December 31, 2021.
Background:
i.In March 2020, RBI had issued guidelines for the regulation of payment aggregators and payment gateways, prohibiting payment aggregators and merchants to store customer card credentials within their database or server from 30 June 2021. Click here to know more At the request of merchants and payment aggregators, card companies, and banks, the timeline was extended until December 31, 2021.

ii.In September 2021, RBI extended the scope of tokenization from device-based tokenization to CoF tokenization services and barred merchants from storing actual card data while online transactions. RBI has fixed the deadline for card tokenization to January 1, 2022.
Additional Direction:
i.In addition to tokenisation, RBI has directed the industry stakeholders to devise alternate mechanisms to handle any use case (including recurring e-mandates, EMI option, etc.) or post-transaction activity (including chargeback handling, dispute resolution, reward/loyalty programme, etc.) that currently involves/requires the storage of CoF data by entities other than card issuers and card networks.
ii.This directive was issued by RBI under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Cause for extending the deadline: Industry bodies including Merchant Payments Alliance of India (MPAI) and the Alliance of Digital India Foundation (ADIF) had sent representations to the RBI seeking an extension of the deadline.
About Tokenization: The process of replacing a card’s sensitive information like card number, expiration date, security code with a device-specific alternate code, or ‘Token’ is called Tokenization.
About Reserve Bank of India (RBI):
Establishment– April 1, 1935
Headquarters– Mumbai, Maharashtra
Governor– Shaktikanta Das
Deputy Governors– Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar

Sports

Veteran Indian spinner ‘Harbhajan Singh’ announced Retirement from All Forms of Cricket

The senior Indian off-spinner, Harbhajan Singh announced retirement from all forms of cricket.

Major boost in his international career was when he snapped 32 wickets in three Tests, including a hat-trick, against Australia in March in 2001. Harbhajan was the 1st Indian Cricketer to take Hat-trick wickets in Test

i.Harbhajan Singh is a 41-year-old cricketer from Jalandhar, Punjab who took 417 wickets in 103 Tests and is the 4th highest wicket taker for India in Test cricket.
ii.He made his debut to the national cricket team, during an ODI (One Day International) against New Zealand at Sharjah in 1998 and lastly represented India in 2016 during a T20 against the UAE at Dhaka, Bangladesh.

Miscellaneous

BOB Financial and Indian Navy Launch Co-branded Credit card

BOB Financial Solutions Ltd, a wholly-owned subsidiary of Bank of Baroda, and the Indian Navy have launched a co-branded credit card for navy personnel. The credit card will be offered on the RuPay platform and will be equipped with contactless features.

Eligibility: A navy personnel up to the age of 64 years will be eligible to choose from 3 variants of the co-branded credit card. Out of the 3 variants, the base variant will be offered as a lifetime free credit card and the other 2 variants will be offered at joining and annual fees, with easily achievable spend-based fee reversal/waiver. The 3 variant credit cards will also be applicable for personal accident insurance, lifetime free add-ons, EMI (Equated monthly installment) offers and periodic merchant offers through tie-ups done by BOB Financial and NPCI (National Payments Corporation of India).

About BOB Financial Solutions Ltd
Establishment – 1994
Headquarters – Mumbai, Maharashtra
MD & CEO – Shailendra Singh

Govt signs 140 mn Euro loan Agreement with KfW for Energy Reforms in MP

The Government of India (GoI) signed agreements with the German based KfW Development bank for a 140 million Euro reduced interest loan & 2 million Euro grant for an energy reform programme in Madhya Pradesh (MP).

Highlights:
i.The project consists of two components, implementation of Smart Meters & Advanced Metering Infrastructure (AMI) and separation of agriculture and non-agriculture feeders. The project will provide upgradation and strengthened distribution of energy networks in MP.

ii.It will also contribute to an effective, technically and economically & ecologically sustainable energy supply.

About KfW Development bank:

CEO- Stefan Wintels
Headquarters- Frankfurt, Germany
About Madhya Pradesh (MP):
i.India’s most ancient “Bhimbetka caves” are found in Raisen district of MP. They marked the oldest known rock art dating back more than 30,000 years.
ii.Bandhavgarh National Park, also called ‘Land of the Tigers’ has the highest density of Royal Bengal Tigers in India.

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Daily Current Affairs | 20th January 2022

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