Current Affairs

28 December, 2021

International

Japan launches Inmarsat-6 F1 Communications Satellite into Geostationary Orbit

Japan has launched Inmarsat-6 F1, a communication satellite, through a Mitsubishi Heavy Industries’ (MHI) H-IIA204 rocket from Japan’s Tanegashima Space Center that will enter geostationary orbit, about 22,240 miles (35,790 kilometers) above earth. It is developed by the London-based company Inmarsat as a part of its next-generation satellite broadband service. The satellite is 12,060-pound (5,470 kilograms) and is the first of two ‘I-6’ spacecraft.

CEBR’s World Economic League Table 2022: India to become 3rd largest economy in 2031; China to be 1st

As per the Centre for Economics and Business Research’s (CEBR) World Economic League Table 2022, India was predicted to become the 6th largest economy (by overtaking France) in 2022 and become the 3rd largest economy in 2031. The annual league table also predicted that China will overtake the US to be the largest economy in 2030 (two years later than the forecast in World Economic League Table 2021). The world economy is set to surpass $100 trillion for the first time in 2022.

Note – The World Economic League Table 2022, shows the economic forecasts for 191 countries to 2036.
League Table ranking:

Ranking out of 191 Countries 2021 2022 2026 2031 2036
India 7 6 5 3 3
United States 1 1 1 2 2
China 2 2 2 1 1
Japan 3 3 3 4 5
Germany 4 4 4 5 4
United Kingdom 5 5 6 6 6
France 6 7 7 7 7

About Center for Economic and Business Report (CEBR):
Chairman – Martin Piers
Headquarters – London, United Kingdom

National

GoI Sets up High-Level Committee to Examine Possibility of Lifting AFSPA in Nagaland

The Government of India(GoI) has decided to constitute a ‘five-member’ committee to look into the demand for withdrawal of Armed Forces (Special Powers) Act – AFSPA in Nagaland. The committee would submit its recommendations within 45 days

Head – Vivek Joshi, the Registrar General and Census Commissioner of India
Secretary – Piyush Goyal, Additional Secretary in the Union Home Ministry
Other members – Chief secretary and Director-General of Police (DGP), Nagaland and DGP of the Assam Rifles.
Highlights:
i.Fourteen civilians were killed by security forces in firing incidents in Mon district, Nagaland in December 2021 which demanded the withdrawal of AFSPA from Nagaland.
ii.A court of inquiry will initiate the disciplinary action against the Army personnel who were directly involved in the counter-insurgency operation. The identified persons facing the investigation will be placed under suspension with immediate effect
About Nagaland:
Governor – Jagdish Mukhi
Chief Minister – Neiphiu Rio
Festivals – Ngada Festival, Hega Festival, Mim Kut Festival

Defence Minister lays foundation stone for DTTC & BRAHMOS Manufacturing Centre of DRDO in Lucknow

On December 26, 2021 the Union Defence Minister, Rajnath Singh laid the foundation stone for Defence Technology & Test Centre (DTTC) and BrahMos Manufacturing Centre. The 2 defence manufacturing houses will be established by Defence Research & Development Organisation (DRDO) in Lucknow, Uttar Pradesh (UP). The state-of-the-art DTTC is set up as a result of the MoU signed between Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) & DRDO during DefExpo-2020 held in Lucknow.

About BrahMos missile:

i.BrahMos is a joint venture between India’s DRDO and Russia’s NPOM.
ii.BrahMos is named on the rivers Brahmaputra from India and Moskva from Russia.
iii.Flight range of around 300 km.
About Ministry of Defence:
Union Minister- Rajnath Singh (Lucknow, UP)
Minister of state- Ajay Bhatt (Nainital-Udhamsingh Nagar, Uttarakhand)

GGI 2020-21: Gujarat tops the Index followed by Maharashtra, Goa

on the occasion of Good Governance day, Union Minister of Home Affairs and Minister of Cooperation, Amit Shah released the Good Governance Index 2020-21 (GGI 2021) which was a biannual exercise prepared by Department of Administrative Reforms and Public Grievances (DARPG).

Gujarat has topped the composite ranking in the GGI covering 10 sectors 58 indicator index followed by Maharashtra and Goa.

Note – December 25 is observed as the good governance day to commemorate the birth anniversary of former prime minister Atal Bihari Vajpayee.

The composite ranking GGI 2020-21:

Groups Rank States/UTs

Other States – Group A

1 Gujarat
2 Maharashtra
3 Goa
Other States – Group B 1 Madhya Pradesh
2 Rajasthan
3 Chhattisgarh

North-East and Hill States

1 Himachal Pradesh
2 Mizoram
3 Uttarakhand

UTs

1 Delhi
2 Puducherry
3 Daman & Diu
About GGI:

i.GGI was introduced by DARPG in 2019 to measure the quality of governance across states and UTs.
ii.GGI provides a framework for a comprehensive assessment of States and Union Territories (UT) on good governance. The GGI 2020-21, has 10 Governance Sectors and the indicators have been revised to 58.
iii.DARPG has partnered with National Centre for Good Governance (NCGG) and Centre for Good Governance (CGG), Hyderabad in designing and developing GGI 2020-21.
About Ministry of Home Affairs:
Union Minister – Amit Shah (Constituency – Gandhi Nagar, Gujarat)
Minister of State – Nityanand Rai (Constituency – Ujiarpur, Bihar), Ajay Kumar Mishra (Constituency – Kheri, Uttar Pradesh), Nisith Pramanik (Constituency – Coochbehar, West Bengal)

Economy

HDFC Life enters Bancassurance partnership with South Indian Bank

HDFC Life signed a bancassurance (Bank-Insurance) agreement with South Indian Bank to enable customers of the South Indian Bank to avail HDFC Life’s life insurance products and services to the customers of South Indian Bank.
Highlights:
i.HDFC Life is targeting to provide the customer with innovative products and superior levels of services through the physical and digital routes
ii.The customers of the Bank can avail a wide range of life insurance products including solutions for protection, savings and investment, retirement and critical illness.
Insurance Penetration in India:
i.Insurance penetration in India is currently at 3.7% of the Gross Domestic Product (GDP) compared to the world average of 6.31%.
ii.Indian insurance industry has 57 companies with 24 life insurance companies, & 34 non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company.
About HDFC Life:
MD & CEO- Vibha Padalkar
Headquarters– Mumbai, Maharashtra
About South Indian Bank:
Managing Director & CEO-Murali Ramakrishnan
Headquarters– Thrissur, Kerala

IndusInd Bank in partnership with NPCI became 1st Indian bank to offer cross-border payments via UPI

IndusInd Bank has partnered with the National Payments Corporation of India (NPCI) for offering real-time cross-border remittances to India using UPI (Unified Payment Interface) IDs for its Money Transfer Operator (MTO) partners. With this initiative, IndusInd Bank has become the first Indian bank to go live on Cross Border Payments/NRI Remittances.
About IndusInd Bank:
Managing Director & CEO– Sumant Kathpalia
Headquarters– Mumbai, Maharashtra
Tagline– We Make You Feel Richer

Indipaisa partners NSDL Payments Bank to launch a new Fintech platform targeting SMEs

Indipaisa signed a partnership agreement with NSDL Payments Bank to launch Financial Technology (Fintech) solutions targeting India’s 63 million Small & Mid-sized Enterprise (SME) sector.
Objective:
To empower SME owners & operators provide facilities and services that help them grow businesses, comply with government tax laws and build a sustainable future.
Highlights:
i.The partnership will offer various convenient payment acceptance options to the merchants at very affordable costs.
ii.It will also enable the settlement of the customer payments into the merchant bank accounts very fast and at zero cost to the merchant.
iii.This partnership is inline with India’s target of exceeding USD 1.0 Trillion digital transactions, annually by the year 2025.
About Indipaisa:
Chairman-Nebil Ben Aissa
Head Office – Noida, Uttar Pradesh
About NSDL Payments Bank:
MD& CEO- Abhijit Kamalapurkar
Headquarters- Mumbai, Maharashtra

Sports

FIS Alpine Skiing Competition 2021: Bronze For Aanchal Thakur

At the FIS Alpine Skiing Competition 2021, Aanchal Thakur won bronze.
A bronze medal for Indian skier Aanchal Thakur at the International Ski Federation (FIS) Alpine Skiing Competition in Montenegro.
Her overall time was 1:54:30, which placed her third. With this achievement, Aanchal has become the first Indian skier to win two international medals.
She previously won bronze in the 2018 FIS Alpine 3200 Cup, which was held in Turkey. Georgia Epiphaniou took silver and finished only 2 seconds ahead of Anchal.
Dora Ljutic (1:50.61) of Croatia won gold, while Georgia Epiphaniou (1:52.71) of Cyprus took silver.
Aanchal Thakur, an Indian female alpine skier, was born on August 28, 1996.
She competed in the 2012 Winter Youth Olympics in Innsbruck, representing India.
She competed in the Alpine skiing events of Girl's Slalom and Girl's Giant Slalom at the 2012 Youth Winter Olympics.

Miscellaneous

China Launches New Camera Satellite ‘Ziyuan-1 02E’ to Find Resources

The China National Space Administration (CNSA) stated about China’s launch of a new satellite with a high-resolution camera that can take pictures of the ground with a resolution of 5 meters. The satellite, named ‘Ziyuan-1 02E’ or ‘five-meter optical satellite 02’ was launched by a Long March-4C rocket from the Taiyuan Satellite Launch Centre in north China’s Shanxi province.

About ‘Ziyuan-1 02E’ or ‘five-meter optical satellite 02’:
i.The Ziyuan-1 02E weighs about 2.5 kilograms and it is equipped with infrared, near-infrared and hyperspectral cameras that can take full-colour panchromatic images of the Earth. Pictures taken by the satellites will help engineers survey China’s geological environment and search for minerals. It also helps in other areas like transportation, agriculture and disaster mitigation.

ii.The satellite will work with the 5-meter optical satellite 01 and shorten the revisit time of Chinese territory from three days to two days.
Highlights:
i.The Long March-4C carrier rocket also sent a small satellite that belongs to Beijing 101 Middle School into orbit.
ii.It carries payloads such as a small imaging camera, intelligent processing equipment, and equipment for conducting experiments on semiconductor thermoelectric generation, state-run Xinhua.
iii.It will carry out auxiliary geography teaching, scientific and technological experiments and other popular science activities for middle school students.
About China:
Capital – Beijing
President – Xi Jinping
Currency – Renminbi

Vishwavir Ahuja Steps down as the MD & CEO of RBL Bank; Rajeev Ahuja takes over

The board of the RBL Bank has accepted to proceed with the medical leave of Vishwavir Ahuja, the Managing Director(MD) and Chief Executive Officer(CEO) of RBL Bank Ltd, the erstwhile Ratnakar Bank Ltd. Vishwavir Ahuja will step down from the post of MD & CEO and go on leave with immediate effect.
Rajeev Ahuja, Executive Director of the RB L Bank has been appointed as the interim managing director & CEO of the RBL Bank, with immediate effect, subject to regulatory and other approvals. The Reserve Bank of India (RBI) invoked Section 36 AB (power of RBI to appoint additional directors) contained in Part 2A (Control over Management) of the Banking Regulation Act, 1949, to appoint Yogesh Dayal, chief general manager of RBI, as an additional director on the board of RBL Bank for a period of 2 years till 23rd December 2023 or until further orders, whichever is earlier.

About Vishwavir Ahuja:
i.Vishwavir Ahuja was appointed as the MD and CEO of the RBL Bank in June 2010.
ii.He has previously served as the MD and Country CEO of Bank of America for India.
About Rajeev Ahuja:
i.Rajeev Ahuja has previously worked as the MD of investor sales business (South Asia) with Citigroup, India
ii.He has also worked with capital markets and investment banking divisions of Deutsche Bank in Asia.
About RBL Bank Limited;
MD & CEO(interim)– Rajeev Ahuja
Headquarters– Mumbai, Maharashtra

Greenman Viral Desai Won the Global Environment And Climate Action Citizen Award 2021

Viral Sudhirbhai Desai, an industrialist from Surat, who is popularly known as the Greenman or green man of Gujarat has been honoured with the Global Environment and Climate Action Citizen Award 2021.
Among the 28 personalities from 11 countries (which includes the United Kingdom(UK), the United States(US), New Zealand, France, and Malaysia,) who were honoured with this award, Viral Desai was the only Indian to win the honour for climate change The winners of the 8th Edition of the “Bharat Gaurav Awards” Lifetime achievement award, were felicitated at Atlantis, The Palm Island, Dubai, United Arab Emirates (UAE) with the Bharat Gaurav Samman by Sanskruti Yuva Sansthan. Sheikh Awad Mohammed Mugrin, Director-General of the Foreign Trade and Economic Development Department, UAE participated in the event.

The other winners include motivational speaker Padma Shri Gaur Gopaldas, polo player Ashvini Kumar Sharma, Akshaya Patra Foundation’s chairman Padma Shri Madhu Pandit Dasa, instrumentalist Padma Bhushan Pandit Vishwa Mohan Bhatt, Padma Shri Ramkishore Chhipa, Nirbhaya’s mother Asha Devi, investor banker Saket Mishra, Dr Jitendra Matlani, a renowned social icon of Dubai and others
Bharat Gaurav Award:
Bharat Gaurav Award” Lifetime achievement award recognises the prestigious people across the globe who achieve a landmark in their working area and make India proud.
The 1st ‘Bharat Gaurav Award” Ceremony was held in 2012.
The award is presented by the Sanskriti Yuva Sanstha is a Non-Governmental Organisation(NGO) working with the vision of the rise of Indian Culture and society through various social programs.

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