Current Affairs

29 April, 2021

International

India Needs 401 Billion USD Capital Investment to Fight Climate Change: BofA’s Report

According to the report of Bank of America(BofA), India needs more than 400 Billion USD Capital investments as a part of its measures to control pollution under the 2015 Paris Climate Agreement, to save more than 100 GW of energy and 1.1 billion tonne greenhouse gases between 2015 and 2030.
About Bank of America(BofA):
CEO– Brian Moynihan
Headquarters– Charlotte, North Carolina, United States

USCIRF Report Recommends US Government to designate India as Country of Particular Concern

United States Commission on International Religious Freedom (USCIRF), an Independent bi-partisan commission has recommended the US Government to put India on a list ‘Countries of Particular Concern (CPC)’ for the worst violations of religious freedoms in 2020. USCIRF has put forth its recommendations in its 2021 Annual Report. This is the 2nd year in a row that USCIRF has asked the US Government to designate India as CPC.
About United States Commission on International Religious Freedom (USCIRF)
Executive Director – Erin D. Singshinsuk
Headquarters – Washington D.C., US

India ranked 49th in Chandler Good Government Index 2021; Finland tops

India with an index score of 0.516 has been ranked 49th in ‘Chandler Good Government Index (CGGI) 2021’ – 1st Edition produced by Chandler Institute of Governance (CIG). The Index was topped by Finland, Switzerland & Singapore. The Index has ranked 104 countries in terms of government capabilities and outcomes. The 2021 report is the 1st Edition of the CGGI. It measures each country over 50 open data points. The Index is made up of 34 Indicators which are organized into 7 pillars.
Rank Country Score
49 India 0.516
1 Finland 0.848
2 Switzerland 0.839
3 Singapore 0.834
About Chandler Institute of Governance (CIG)
Executive Director – Wu Wei Neng
Headquarters – Singapore

National

Air Pollution Costs Indian Business Around 95 Billion USD Every Year: Study

The study by the Industry Group Confederation of Indian Industry (CII); Clean Air Fund, a charity and Delberg, a consulting firm has released a study which states that the air pollution in India annually costs Indian business around 95 Billion USD (~INR 7 lakh Crore), and around 3% of the Gross Domestic Product(GDP) of India. The cost is equal to 50% of all tax collected annually, or 150% of India’s healthcare budget.

Over 14, 491 Hectare area in A&N Islands becomes 1st Large Territory to get organic Certification

Ministry of Agriculture & Farmers Welfare (MoA&FW) has certified around 14, 491 Hectares of land in Car Nicobar and nancowry group of Islands in UT of A&N as ‘Organic Area’ under the ‘Large Area Certification (LAC)’ scheme of the PGS-India (Participatory Guarantee System) certification programme. It became the 1st large contiguous territory to be conferred with organic certification. LAC is a certification programme under the Department of Agriculture and Farmers Welfare’s (DAC&FW) flagship scheme ‘Paramparagat Krishi Vikas Yojana (PKVY)’. The organic certification will help farmers in getting direct access to the emerging organic food market of the country.
About Ministry of Agriculture & Farmers Welfare (MoA&FW)
Union Minister – Narendra Singh Tomar (Morena, Madhya Pradesh)
Minister of State – Parshottam Rupala (Rajya Sabha, Gujarat), Kailash Choudhary (Lok Sabha – Barmer, Rajasthan)

India, Japan & Australia launch the ‘Supply Chain Resilience Initiative’

During a trilateral Ministerial Meeting, the Trade Ministers of India, Japan & Australia virtually launched the ‘Supply Chain Resilience Initiative (SCRI)’. Objective – SCRI aims to build a resilient supply chain with focus on free, transparent trade & investment environment in the Indo-Pacific region. It will reduce the dependency of the 3 countries on China and counter its dominance on Trade.
About Australia
Prime Minister – Scott Morrison
Capital – Canberra
Currency – Australian Dollar (AUD)

19th India-French Navy Bilateral Exercise ‘VARUNA-2021’ conducted in Arabian Sea

The 19th Edition of the Indian and French Navy Bilateral Exercise ‘VARUNA-2021’ took place in the Arabian Sea from April 25-27, 2021. The Indian side was led by Rear Admiral Ajay Kochhar, while the french side was led by Rear Admiral Marc Aussedat, Commander Task Force 473. During the exercise, high tempo-naval operations at sea, advanced air defence and anti-submarine exercises were carried out.
About France
President – Emmanuel Macron
Capital – Paris
Currency – Euro, CFP franc

Economy

Google Announced Rs 135 Crore Fund to Tackle the COVID-19 crisis in India

i.Sundar Pichai, Chief Executive Officer (CEO)of Google and Alphabet, announced that Google will provide Rs 135 crore as an aid to India to tackle the COVID-19 crisis in India. Google’s fund will help India to procure medical supplies including oxygen and testing equipment.
ii.This funding includes 2 grants (total value – Rs 20 crore) from Google.org, the philanthropic arm of Google. These 2 grants will go to
About Google:
CEO– SundarPichai
Headquarters– California, United States
About Mastercard:
CEO– Michael Miebach
Headquarters– New York, United States

FSS and NIPL Partner to Expand UPI in International Market

Financial Software and Systems (FSS), India’s largest payments processor, and NPCI International Payments Ltd (NIPL), the International arm of National Payment Corporation of India(NPCI) made a partnership to expand Unified Payment Interface (UPI) rails in international markets. Under the partnership, in order to implement large-scale national payments infrastructure and to provide UPI payment services for Payment service providers(PSPs), FSS will use its experience and understanding. NIPL will provide its real-time payments processing platform along with its technical acumen to scheme operators. India’s UPI processed transactions in 2020 are equivalent to 15% of GDP (worth $457 billion) with a 285% Compound annual growth rate (CAGR)
About Financial Software and Systems (FSS):
Establishment – 1991
Headquarters – Chennai, Tamil Nadu
Founder, Chairman and Managing Director – Nagaraj Mylandla

RBI Issued Guidelines for Appointment of SCAs/SAs with Continuous 3 Years Tenure

The Reserve Bank of India(RBI) issued guidelines for the appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding Regional Rural Banks(RRBs)), Urban Cooperative Banks (UCBs) and Non-banking finance companies(NBFCs) (including Housing finance companies(HFCs)) from FY22 onwards.

ADB provided $1.5 billion to India to deal with pandemic

The latest Annual Report of Asian Development Bank(ADB) released on 27th April 2021 showed that ADB had provided $1.5 billion(~Rs 1.11 lakh crore) to India in supporting the response to tackle covid-19.
About Asian Development Bank(ADB):
Establishment: 1966
Headquarters: Mandaluyong,Manila,Philippines
Membership: 68 countries(Including India)
President of ADB and Chairperson of ADB’s Board of Director: Masatsugu Asakawa

Govt Infused Rs 200 crore into IFCI to Improve its Financial Condition

In order to improve the financial health of the Industrial Finance Corporation of India (IFCI), in April 2021, the Government has infused Rs 200 crore capital in IFCI through issue of equity shares. After the capital infusion, the government’s holding in IFCI was increased from 61.02 per cent to 63.8 per cent.
Background: In the budget of FY21, the government had committed for fundingRs 200 crore to IFCI. In March 2020 also, the government infused Rs 200 crore.
About IFCI’s financial status in Q3FY21: Loss: In the third quarter Q3 of FY21, IFCI has recorded a consolidated net loss of Rs 717.99 crore as compared with the net profit of Rs 335.38 crore in Q3FY20
Income: The consolidated total income of IFCI for Q3FY21 shows an 11.2 per cent decrease from its Q3FY20’s net income i.e. from Rs 687.36 crore to Rs 610.12.
About The Industrial Finance Corporation of India (IFCI):
Establishment – 1948
Headquarters – New Delhi
Deputy Managing Director – Shri Sunil Kumar Bansal

Sports

Archery World Cup: Indian women’s recurve team wins gold, bronze goes to mixed pair

In the Archery World Cup, the Indian women’s recurve team which included Ankita Bhakat, Deepika Kumari, and Komalika Bhari won a gold medal in Guatemala on April 26, 2021.

Deepika, former world number one, shot a perfect 10 in the final row as India saw a stunning turnaround to defeat a fancied Mexico and grabbed a gold medal in the stage 1 of Archery World Cup.

The mixed pair duo of Ankita and Atanu Das also bagged a mixed pair of bronze. The Indian team has trailed 2-4 after the third set. The team returned to the World Cup after almost two years and is yet to clinch an Olympic games team quota.

However, the trio of Ankita Bhakat, Deepika, and Komalika Bhari presented the perfect composure to bounce back in the fourth set before clinching the issue 5-4 in the shoot-off en route to their first women’s recurve team gold since the year 2014.

Rafael Nadal beat Stefanos Tsitsipas to claim 12th Barcelona Open title

Rafael Nadal beat Stefanos Tsitsipas 6-4, 6-7 (6), 7-5 in the final of the 68th Barcelona Open Banco Sabadell tournament. With this win at the clay court, Rafael Nadal claimed his 12th Barcelona Open title of his career and his first title of the year 2021.

The match went on for 3 hours, 38 minutes, becoming the ATP’s longest match of 2021. "I never played a final like this in this tournament," he said. "It means a lot to me. It was an important victory," Nadal said.

The 34-year-old Nadal beat Pablo Carreno Busta, Kei Nishikori, Ilya Ivashka, and Cameron Norrie to reach the final. He had two match points in the second set but lost on a tie-break with Tsitsipas. However, Nadal managed to serve the third set without a break and claimed the title.

Miscellaneous

Foundation Stone laid for Integrated Solar Dryer and Pyrolysis Pilot Plant in CSIR-CLRI, Chennai

Dr K J Sreeram, Director of Council of Scientific & Industrial Research-Central Leather Research Institute (CSIR-CLRI) laid the foundation Stone of the Integrated Solar Dryer and Pyrolysis Pilot Plant in CSIR-CLRI, Chennai, Tamil Nadu. It was laid on the occasion of 74th Foundation Day of CLRI (23rd April). The project was allocated to CSIR-CLRI under the Indo-German Project titled ‘Pyrasol’. The plant will help in transforming urban organic waste into biochar and energy in smart cities.
About Central Leather Research Institute (CLRI)
Director – K J Sreeram
Location – Chennai, Tamil Nadu

Community Service Centre “Aditya-L1 Support Cell” to Bring Data from Aditya L1 India’s First Solar Space Mission

i.The Aditya-L1 Support Cell (AL1SC), the Community service centre, was established at the Aryabhatta Research Institute of Observational Sciences (ARIES) transit campus in Haldwani, Uttarakhand,as a part of the efforts of Indian Researchers to create a skilled community of solar scientists to bring & Store the data from the Aditya L1, the first Solar Mission of India.
ii.Aditya-L1 Support Cell (AL1SC), a joint initiative Indian Space Research Organisation (ISRO) and ARIES will produce the trained manpower.
iii.AL1SC will integrate all the data from the various instruments onboard Aditya L1 over a single web-based interface.
About Aryabhatta Research Institute of Observational Sciences (ARIES):
ARIES is an autonomous institute under the Department of Science and Technology(DST), Government of India.
Director– Prof. Dipankar Banerjee
Location– Nainital, Uttarakhand

Cuba’s President Miguel Díaz-Canel named the Chief of Communist Party; succeeds Raúl Castro

Miguel Díaz-Canel(60 years old), The President of Cuba has been named as the first secretary of the Central committee of the Cuban Communist Party. He succeeded Raúl Castro as the first non Castro First Secretary of the communist party since the cuban revolution in 1959. Raúl Castro has been serving as the first secretary since 2011. Raúl Castro and Fidel Castro, the two brothers, have ruled Cuba since the 1959 revolution which overthrew the rule of Gen Fulgencio Batista.

Krithi Karanth becomes First Indian, Asian Woman to get ‘Wild Innovator Award’

The WILD ELEMENTS Foundation has awarded Dr Krithi K Karanth, Chief Conservation Scientist at Bengaluru-based Centre for Wildlife Studies (CWS), the ‘WILD Innovator Award’ for 2021, she became the first Indian and Asian woman to receive such an award.
Other winners: Richelle Thomas, Erika Allen, Laurell Sims, AnnaSophia Robb, Genesis Butler (USA), Abigail Williams and Jayne Goss (United Kingdom), Sheila Funnell, RessonKantai Duff (Kenya), Rosamira Guillen (Colombia), Dr Adriana Verges (Australia), and Dominique Goncalves (Mozambique).
About Centre for Wildlife Studies
Establishment – 1984
Headquarters – Bangalore, Karnataka
Director – UllasKaranth

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