Current Affairs

30 November, 2020

International

27th APEC Economic Leaders’ summit 2020 held virtually; APEC Putrajaya Vision 2040 endorsed:

i.The 27th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ summit 2020 was virtually hosted by Malaysia from Kuala Lumpur on Nov. 20, 2020. It was chaired by Malaysia’s Prime Minister Muhyiddin bin Haji Muhammad Yassin under the 2020 APEC Malaysia theme of “Optimising Human Potential towards a Resilient Future of Shared Prosperity. Pivot. Prioritise. Progress”. It was the first virtual APEC meeting amid COVID-19.
ii.The summit saw the releasing of Asia Pacific leaders; first joint communique in three years, calling for free and predictable trade to help a slowed global economy due to the coronavirus pandemic.
iii.APEC leaders had endorsed the APEC Putrajaya Vision 2040 that will make free and fair trade the focus of the APEC agenda for the next two decades
About Asia-Pacific Economic Cooperation (APEC):
New Zealand will chair the APEC in 2021.
Members– 21 countries
Secretariat– Singapore
Executive Director, APEC Secretariat– Dr Rebecca Fatima Sta Maria

UAE: First Arab Country to generate electricity from coal

The United Arab Emirates (UAE) is all set to become the first Arab Gulf country, and probably the last, to generate electricity from coal, as; the Acwa Power of Saudi Arabia is developing a $3.4 billion Hassyan coal plant in Dubai.In this regard, the company has already inked a long time agreement with Japan’s Jera Co under which the latter will supply coal.The capacity of the plant will be 600 megawatts (MW) initially which will be increased to 2,400 MW by 2023.
Reason behind Coal based power generation by UAE:
As we all know, coal is the dirtiest fuel for power generation but this will be developed based on the guidelines for natural-gas plants. If met then Hassyan emits less carbon than the European Union (EU) and the World Bank’s International Finance Corporation (IFC).

National

Ramesh Pokhriyal ‘Nishank’ Chairs a Virtual National Conference on ‘Empowering Through Zero- Shunya Se Sashaktikaran’; Organised by Sri Aurobindo Society

Ramesh Pokhriyal ‘Nishank’, Union Minister of Education chaired and addressed a virtual national conference on ‘Empowering Through Zero- Shunya Se Sashaktikaran’.
Organiser– It was organised by Sri Aurobindo Society.
Events in the Conference:
Honoured more than 40 education officers and 26 teachers
Ramesh Pokhriyal ‘Nishank’ honoured over 40 education officers and 26 teachers for their leadership role and innovative practices respectively during COVID-19 pandemic.
e-book Launched
He launched an e-book, ‘Innovation and Leadership Casebook – Covid Edition’. It comprises the innovative efforts and work of the education officers and teachers.
Research report Launched
A research report that was prepared by Cambridge on ‘Zero-Investment Innovations for Education Initiatives’ (ZIIEI) was launched. ZIIEI is a nation-wide education programme of Sri Aurobindo Society and HDFC Bank.
An in-depth insight of the various stakeholders of ZIIEI programme is presented in the report.
Auro Scholarships programme Launched
He launched Auro Scholarships programme, that promotes micro-scholarships among the students.

MEITY and IBM India collaborate to upskill members of CSC ecosystem in AI & Cloud

Ministry of Electronics & Information Technology (MEITY) and IBM (International Business Machines) India have collaborated to establish an education & Skilling ecosystem through Common Services Centre (CSC) Academy (part of the Common Services Centre scheme) to upskill members of the CSC ecosystem in new age technologies like Artificial Intelligence (AI) & Cloud.
It will focus on skill upgradation through experiential learning which are aimed at enhancing employability.
Objective:
i.CSC Academy, IBM India along with implementation partners CSR Box, Uva Jagriti Sansthan and Jeevitam will focus on exposing village level entrepreneurs to new-age technologies like AI and cloud.
ii.The collaboration aims to provide access to employment to 4000 village level youth in identified rural areas.
About Ministry of Electronics & Information Technology (MEITY):
Union Minister – Ravi Shankar Prasad
Minister of State – Sanjay Dhotre
About IBM India:
General Manager of IBM India, South Asia – Sandip Patel
Headquarters – Bengaluru, Karnataka

PM Narendra Modi Unveiled the Rs.100 Commemorative Coin & Postal Stamp to Mark Centennial Foundation Day of University of Lucknow

Prime Minister Narendra Modi, unveiled the University of Lucknow’s centennial commemorative coin of Rs.100 over a virtual platform. He also released the commemorative stamp issued by the India Post and its cover at the event organised for the celebration of the 100th Foundation day of the University of Lucknow.
Key People:
Yogi Adityanath, Chief Minister of Uttar Pradesh(UP), Anandiben Patel, Governor of UP and Defence Minister Rajnath Singh, who is also a Lok Sabha member from Lucknow Constituency participated in the event.
About The University of Lucknow:
Established in– 1920.
Vice-Chancellor– Prof. Alok Kumar Rai

Economy

RBI Advises LVB to Write Off Tier-2 bonds worth Rs 318.20 Crore Debt; 1st time a Tier-2 bond is written off

i. Reserve Bank of India(RBI) advised Lakshmi Vilas Bank(LVB) to fully write off the Series VIII, Series IX and Series X Basel-III complaint tier -2 bonds worth Rs 318.20 crore, before its amalgamation with DBS Bank India Ltd. comes into effect from the appointed date i.e., 27th November 2020.
ii.It is to be noted that it is the 1st time a Tier II bond is being written off and so RBI has set a priority to the proposed write off.
About Reserve Bank of India(RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao)

RXIL Initiates 1st Trade Credit Insurance Backed Transaction with Tata AIG General Insurance, ICICI Bank and YES Bank in Sandbox

i.Receivables Exchange of India Limited(RXIL) has initiated a Trade Credit Insurance (TCI) backed transaction in the Sandbox environment.
ii.In this TCI backed transaction, RXIL has collaborated with TATA AIG as the insurer, ICICI bank and YES Bank as financiers.
iii.It is the 1st time a Trade Receivables Discounting System (TReDS) platform tested the effectiveness of TCI backed transactions.
About Receivables Exchange of India Limited(RXIL):
Incorporated– February 25, 2016 as a joint venture between Small Industries Development Bank of India (SIDBI) National Stock Exchange of India Limited (NSE India)
Managing Director(MD) and Chief Executive Officer(CEO)– Ketan Gaikwad
HeadQuarters– Mumbai, Maharashtra

27th APEC Economic Leaders’ summit 2020 held virtually; APEC Putrajaya Vision 2040 endorsed:

i.The 27th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ summit 2020 was virtually hosted by Malaysia from Kuala Lumpur on Nov. 20, 2020. It was chaired by Malaysia’s Prime Minister Muhyiddin bin Haji Muhammad Yassin under the 2020 APEC Malaysia theme of “Optimising Human Potential towards a Resilient Future of Shared Prosperity. Pivot. Prioritise. Progress”. It was the first virtual APEC meeting amid COVID-19.
ii.The summit saw the releasing of Asia Pacific leaders; first joint communique in three years, calling for free and predictable trade to help a slowed global economy due to the coronavirus pandemic.
iii.APEC leaders had endorsed the APEC Putrajaya Vision 2040 that will make free and fair trade the focus of the APEC agenda for the next two decades
About Asia-Pacific Economic Cooperation (APEC):
New Zealand will chair the APEC in 2021.
Members– 21 countries
Secretariat– Singapore
Executive Director, APEC Secretariat– Dr Rebecca Fatima Sta Maria

UAE: First Arab Country to generate electricity from coal

The United Arab Emirates (UAE) is all set to become the first Arab Gulf country, and probably the last, to generate electricity from coal, as; the Acwa Power of Saudi Arabia is developing a $3.4 billion Hassyan coal plant in Dubai.In this regard, the company has already inked a long time agreement with Japan’s Jera Co under which the latter will supply coal.The capacity of the plant will be 600 megawatts (MW) initially which will be increased to 2,400 MW by 2023.
Reason behind Coal based power generation by UAE:
As we all know, coal is the dirtiest fuel for power generation but this will be developed based on the guidelines for natural-gas plants. If met then Hassyan emits less carbon than the European Union (EU) and the World Bank’s International Finance Corporation (IFC).

Sports

Sports Ministry restores Archery Association of India as National Sports Federation

The Ministry of Youth Affairs and Sports restored the Archery Association of India as a National Sports Federation, allowing the promotion and regulation of Archery in India.
i.Eight years ago, the Archery Association of India(AAI) was removed from the National Sports Federation due to its failure to satisfy mandatory election rules set by the National Sports Development Code, 2011 (Sports Code) of India.
ii.World Archery (International Federation for Archery Sport) has also lifted the suspension of AAI and as such at present the AAI has the recognition both of Indian Olympic Association and the World Archery.
iii.Government of India recognition of AAI will be valid for one year.
About Archery Association of India:
Founded in 1973
Headquarters- New Delhi
President- Arjun Munda
About Ministry Of Sports and Youth Affairs:
Minister of State– Kiren Rijiju
Formed in May 27, 2000
Headquarters– Shastri Bhawan, New Delhi

Miscellaneous

India-Japan Cooperation Won the OECD’s 2019 MAP Award

the India-Japan Cooperation won the Organisation for Economic Co-operation and Development (OECD)’s 2019 Mutual Agreement Procedure(MAP) Award in category 4 for pairings of jurisdictions that dealt most effectively with their joint caseload for transfer pricing cases. The award was announced during the virtual event of the 2nd OECD Tax Certainty Day organised by OECD.
Note: In category 4, Norway- United States cooperation won the 2019 MAP Awards for “other cases”.

Australia to host Temporary Ground Station Tracking facilities for ISRO’s Gaganyaan Mission

Karen Andrews, Australian Minister of Industry, Science and Technology stated that Australian Space Agency (ASA), Indian Space Research Organisation (ISRO) are working together to set up Temporary ground station tracking facilities in Australia for ISRO’s Gaganyaan Mission. She stated it while virtually addressing the 2020 Bengaluru Tech Summit held from November 19-21, 2020.
Gaganyaan Mission is an ambitious plan of ISRO to put an Indian in space by 2022.
About Indian Space Research Organisation (ISRO):
Chairman – Dr. K. Sivan
Headquarters – Bengaluru, Karnataka

Indian Navy inducts two ‘MQ-9B Sea Guardian’ American Predator drones on lease;1st Defence hardware procured on lease under the DAP 2020

Indian Navy inducted two MQ-9B Sea Guardian unarmed drones (Unmanned Aerial Vehicles – UAV) procured from the United States (U.S.) on lease. MQ-9B Sea Guardian became the first defence hardware to be procured on lease under the new Defence Acquisition Procedure (DAP) 2020.
i.The drones have been leased from an American firm, General Atomics for a period of 1 year for surveillance in the Indian Ocean Region (IOR).
ii.The drones will be based at Naval Air Station in Rajali, Arakkonam, Tamil Nadu.
iii.It has a maximum endurance of 40 hours and a maximum flying altitude of 40, 000 feet.
About General Atomics:
Chief Executive Officer (CEO) – Neal Blue
Headquarters – San Diego, California, United States

Prakash Javadekar Launched ‘India Climate Change Knowledge Portal’ to Provide Information on Various Climate Change Initiatives

i. Minister of Environment Forest and Climate Change Mr. Prakash Javadekar has launched a India Climate Change Knowledge portal to provide information about the Government initiatives towards climate change to the citizens.
ii.8 Major Components of the Portal are India’s Climate Profile, National Policy Framework, India’s NDC goals, Adaptation Actions, Mitigation Actions, Bilateral and Multilateral Cooperation, International Climate Negotiations, Reports and Publications.
About UNFCCC:
Secretariat(Headquarter)– Bonn, Germany.
Number of Signatories– 197 countries.

Search Current Affairs by Date

Result:

Daily Current Affairs | 1st & 2nd August 2021

Click here
[popup_button]