Current Affairs

28 June, 2021

International

Santosh Gangwar Addresses G20 Labour and Employment Ministers’ Meeting 2021

Minister of State (I/C) for Labour and Employment, Santosh Gangwar delivered the Ministerial Address on ‘Declaration and Employment Working Group Priorities’ at G20 Labour and Employment Ministers’ Meeting 2021, which was held in Hybrid mode from Catania, Italy. The meeting was hosted by Italy (2021 G20 Presidency). The participants discussed current labour market trends across the world, employment and social challenges, women employment, social security and remote working. The Labor and Employment Ministers’ Meeting 2021 is one of the ministerial meetings organized as part of the G20 Leaders Summit 2021, set to be hosted by Italy in October 2021.
Efforts taken by G20 to reduce Gender Gap
In 2014, G20 Leaders took a pledge in Brisbane, Australia to reduce the gap in labour force participation rates between men and women by 25% by 2025.
About G20
Members – 20 (19 countries + European Union)
2021 Presidency – Italy
Established – 1999

9th Moscow Conference on International Security 2021 in Russia: Defence Secretary Ajay Kumar Represented India

3-day 9th Moscow Conference on International Security (MCIS-2021) organised by the Russian Ministry of Defence was held in Moscow, Russia with a participation of 600 attendees. The opening session was addressed by President of Russian, Vladimir Vladimirovich Putin. India was represented by Defence Secretary Ajay Kumar. He addressed the plenary session on the topic ‘Role of Military Agencies in fighting against COVID-19’. More than 600 participants attended the conference.
About MCIS:
It is held annually since 2012 under the aegis of the Ministry of Defence of Russia to discuss actual problems of international security by bringing together Defence Ministers, Heads of International organizations, nongovernment experts and world’s think-tank representatives. The 2020 edition was cancelled due to the Covid-19 pandemic.

Overview of Ministerial-level Thematic Forum for UN High level Dialogue on Energy 2021

The Ministerial-level Thematic Forum for UN High Level Dialogue on Energy 2021 (HLDE 2021) was held virtually from June 21-25, 2021. It is an initiative of United Nations-Energy (UN Energy). The main aim of HLDE 2021 is to promote the implementation of the energy-related goals and targets of the 2030 Agenda for Sustainable Development. The Forums in HLDE 2021 held discussions around 5 themes – Energy access; Energy transition; Enabling Sustainable Development Goals (SDGs) through inclusive, just energy transitions; Innovation, technology and data; Finance and investment. The Ministerial Thematic Forums are being held in preparation for the High-level Dialogue on Energy during the 76th session of the UN General Assembly in September 2021 in New York, USA.
About UN-Energy
Co-Chairs – Achim Steiner (Administrator of United Nations Development Programme) & Damilola Ogunbiyi (Special Representative of the Secretary General for Sustainable Energy for All)

National

Two Days Hemis Festival Celebrated in Ladakh

The two days grand Hemis festival was celebrated by the people of Ladakh and the Tibetian community on 20th and 21st of June 2021. It is celebrated at the sweeping courtyard of Hemis monastery, Ladakh.
About Ladakh:
Lieutenant Governor:Radha Krishna Mathur
Capital: Leh,Kargil

MoHUA celebrated 6th Anniversary of Smart Cities Mission, AMRUT and PMAY-U; ISAC-2020 Winners Announced

i.An online event was organized by the Ministry of Housing and Urban Affairs (MoHUA) to mark the 6th anniversary of the launch of three transformative Urban Missions viz. Smart Cities Mission (SCM), AMRUT (Atal Mission for Rejuvenation and Urban Transformation) and Pradhan Mantri Awas Yojana-Urban (PMAY-U).
ii.The event will be presided over by Minister of State (Independent Charge), Hardeep Singh Puri, MoHUA.
iii.During the event, MoHUA also announced the results of India Smart Cities Awards Contest (ISAC) 2020 which were given across 6 categories of Project Awards, City Leadership Award, State UT Award, Innovation Award, COVID Innovation Award, and City Award.
iv.Indore & Surat jointly won the Best City Award and Uttar Pradesh won Best State award under India Smart Cities Awards 2020.
About Ministry of Housing and Urban Affairs (MoHUA):
Secretary– Durga Shanker Mishra
Headquarter– New Delhi

India’s 1st Indigenous Aircraft Carrier to be Commissioned by 2022: Defence Minister

Union Minister for Defence Rajnath Singh has stated that India’s 1st Indigenous Aircraft Carrier (IAC) will be commissioned into Indian Navy’s Eastern Naval Command as ‘INS Vikrant’ by mid-2022. It is being built at Cochin Shipyard Limited (CSL). The commissioning of INS Vikrant will enhance the combat capability, reach and versatility to India’s defence. IAC contains nearly 75% indigenous content and has been designed by Indian Navy’s Directorate of Naval Design (DND). It is being built at a cost of INR 24,000 crore and was originally targeted to be commissioned by 2018. At present, India has only one Aircraft Carrier – the Russian-origin INS Vikramaditya.
About Indian Navy
Chief of Naval Staff (CNS) – Admiral Karambir Singh
Integrated Headquarters of Ministry of Defence (Navy) – New Delhi

Prakash Javadekar Releases LiDAR Survey of Forest Areas for 10 States

Union Minister for Environment, Forest and Climate Change (MoEFCC) Prakash Javadekar virtually released the Detailed Project Reports (DPRs) of Light Detection and Ranging (LiDAR) based survey of forest areas for 10 states. The survey is the 1st of its kind in India which uses LiDAR technology. The 10 states are Assam, Bihar, Chhattisgarh, Goa, Jharkhand, Madhya Pradesh, Maharashtra, Manipur, Nagaland, and Tripura. It is the 1st time that Central funds have been utilized for surveying of forest areas at such a large scale. The LiDAR survey will help in increasing water and fodder in jungle areas thereby reducing human-animal conflict. It will also assist in identifying areas that need groundwater recharge, which will benefit the local communities.
About WAPCOS Ltd
CMD – Debashree Mukherjee
Head Office – New Delhi

Economy

China became the 2nd-largest Export Destination of India in FY21; Replaced UAE

As per the Central government data, China replaced the United Arab Emirates (UAE) as the 2nd largest export destination for India in FY21. The United States (US) remained as India’s top export partner. China’s share in India’s export rose to 7.29 percent in FY21 from 5.3 percent of FY20 (Whereas the imports from China declined marginally in FY21). Iron ore, organic chemicals, and petroleum were the top exports to China in FY21.
Top 5 Export Partners in FY21:
Country Export value FY21 ($Billion) % Change (Year-over-year)
US 51.6 -2.8
China 21.2 +27.5
UAE 16.7 -42.2
Hong Kong 10.2 -7.4
Bangladesh 9.1 +10.8
About China:
Capital – Beijing
President – Xi Jinping
Currency – Renminbi

Ind-Ra cut India’s GDP Growth Estimate for FY22 to 9.6%

India Ratings and Research (Ind-Ra) reduced India’s GDP growth forecast for FY22 to 9.6 percent from its earlier estimate of 10.1 percent. Alternate Projection: It also stated an alternate growth projection of 9.1 percent, in the case of a slow pace of vaccination or non-availability of vaccines for COVID-19.
About National Council of Applied Economic Research (NCAER):
Establishment – 1956
Headquarters – New Delhi
President – Nandan M Nilekani

NCAER Projected India’s FY22 GDP Growth at 8.4-10.1%; Ind-Ra cut FY22 GDP Growth

National Council of Applied Economic Research (NCAER), a non-profit think tank of economics, forecasted India’s gross domestic product (GDP) growth for the whole year of FY22 in the range of 8.4-10.1 percent with 11.5 percent growth in the Q1FY22(April – June, 2021). It estimated a contraction of 7.3(-7.3) percent in FY21. India’s economic activity in April and May 2021 faced a sharp decline in growth due to the 2nd wave of COVID-19. GDP on constant price at the end of FY22, is estimated to be the same as of FY20 i.e. Rs 146 trillion (Rs 146 lakh crore).

RBI Penalises 3 Maharashtra-Based Co-Operative Banks

The Reserve Bank of India (RBI) imposed a total penalty of Rs 8 lakh on 3 Maharashtra-based co-operative banks for contravention of directions issued by RBI over ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’. A penalty of Rs 4 lakh was imposed on Excellent Co-operative Bank, Mumbai – and Rs 2 lakh penalty each on Janseva Sahakari Bank Limited, Pune and The Ajara Urban Co-operative Bank, Ajara.

RBI Launched FY21 Round of Survey on ITES exports, Foreign Liabilities

In June 2021, the Reserve Bank of India (RBI) launched the FY21 round of its annual Survey on ‘Computer Software and Information Technology Enabled Services (ITES) Exports’. The survey was started initially in 2002 -03 and the annual survey collects data on various aspects of computer services exports and exports of information technology-enabled services (ITES) and business process outsourcing (BPO). The results will be used for the compilation of balance of payments(BoP) statistics.
About Reserve Bank of India (RBI):
i.RBI was established in 1935 and nationalised in 1949
ii.The 1st headquarters of RBI was located in Kolkata
iii.The cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI.
iv.Reverse Repo rate is the rate at which the RBI borrows money from commercial banks.
v.Repo rate is the rate at which the RBI lends money to commercial banks.

Sports

Madhya Pradesh shooter Rubina Francis creates world record at World shooting Para Sport Cup

Para shooter Rubina Francis from Madhya Pradesh has set a world record, who won gold with 238.1 points in the 10-metre air pistol para women’s event at World shooting Para Sport Cup in Lima, Peru. He beated the record of Aysegul Pehlivanlar of Turkey and holds the Paralympic quota for India at the Tokyo Olympic 2020.

Miscellaneous

DRDO Test Fires Pinaka Rocket & Enhanced Range 122mm Caliber Rocket

The Defence Research and Development Organisation (DRDO) successfully test fired the Extended range version of indigenously developed Pinaka rocket & Enhanced range versions of indigenously developed 122mm Caliber rocket from the Integrated Test Range (ITR) in Chandipur, Odisha. Both rockets have been developed by Pune-based Armament Research and Development Establishment (ARDE) and the High Energy Materials Research Laboratory (HEMRL).
i.Pinaka Rocket – The enhanced range version of the Indigenous Pinaka Rocket System test fired from a Multi-Barrel Rocket Launcher (MBRL) can destroy targets at distances up to 45 Kms. It has been developed jointly by the Pune-based ARDE and HEMRL, with manufacturing assistance from Economic Explosives Ltd, Nagpur, Maharashtra.
ii.Enhanced Range 122mm Caliber Rocket – The Enhanced Range 122mm Caliber Rocket was test fired from a MBRL. The enhanced version has been developed for Army applications and can destroy targets up to 40 kilometres.
About Armament Research and Development Establishment (ARDE)
Director – Dr. V Venkateswara Rao
Location – Pune, Maharashtra
About High Energy Materials Research Laboratory (HEMRL)
Director – KPS Murthy
Location – Pune, Maharashtra

LIC Launched Web Portal for Group Business Operations – ‘e-PGS’

Life Insurance Corporation (LIC) has launched a centralized web-enabled workflow-based IT platform for its group business operations named ‘e-PGS’.
Features of e-PGS:
i.The platform was designed to provide centralized collection and payment accounting with a high level of bank integration by connecting the innovative features of integrated banking with automatic reconciliations.
ii.The customer portals under the platform will provide comprehensive self-servicing capabilities, through which the corporate customers could view their data, initiate actionable processes, lodge, and track claims.
iii.This initiative was intended to change the ways of services and data transfer to customers on group business platforms through technology.
About Life Insurance Corporation (LIC):
Establishment -1956
Headquarters – Mumbai, Maharashtra
Chairman -M R Kumar

LIC, SBI Life & Canara Bank Pick Up Stakes in Indian Bank Under QIP

According to a regulatory filing, the Life Insurance Corporation (LIC), SBI Life Insurance and Canara Bank were among the top investors picking up stakes in Indian Bank under the qualified institutional placement (QIP).
Indian Bank has raised a total of Rs 1650 crore in its QIP of shares which were issued at Rs 142.15 apiece. The LIC, India’s largest and the only state-owned life insurer, has picked up 17.80 % shares issues under QIP.
About Indian Bank:
MD & CEO– Padmaja Chunduru
Head Office– Chennai, Tamil Nadu
Tagline– Your Own Bank
Establishment– 1907
About SBI Life Insurance:
MD & CEO– Mahesh Kumar Sharma
Headquarters– Mumbai, Maharashtra

CCI Approves Acquisition of Zuarinagar Plant by Paradeep Phosphates

The Competition Commission of India (CCI) has approved the acquisition of the Zuarinagar plant of Zuari Agro Chemicals Ltd (ZACL) by Paradeep Phosphates Limited (PPL).
About Competition Commission of India(CCI):
Establishment:2003
Headquarters: NewDelhi
Chairman:Ashok Kumar Gupta

Meenesh Shah Appointed as NDDB Chairman

National Dairy Development Board (NDDB) Executive Director Meenesh Shah has taken additional charge as the Chairman of NDDB for six months with effect from June 1,2021. He succeeds Varsha Joshi whose tenure ended on May 31,2021.
About Meenesh Shah:
i.Meenesh Shah has over 35 years of experience in the dairy sector.
ii.He is the member secretary of the Indian National Committee (INC) of the International Dairy Federation (IDF).
iii.He is also a member of the standing committee on dairy policy and economics of the IDF.
About National Dairy Development Board (NDDB):
Founder: Verghese Kurien
Founded: 16 July 1965
Headquarters: Anand,Gujarat

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