Current Affairs

31 December, 2020

International

Myanmar Inducts Indian Submarine ‘INS Sindhuvir’ into its Navy

Myanmar officially inducted the Kilo Class Submarine, ‘INS Sindhuvir’ into its Navy under the name ‘UMS Minye Theinkhathu’. The submarine was handed over by India to Myanmar in October, 2020. It is the 1st & only submarine of the Myanmar Navy.The Submarine was inducted during 73rd anniversary(December 25) of the Myanmar Navy.
i.It is also the 1st time that India has given a Submarine to any other country. It was given to Myanmar under India’s vision of SAGAR (Security and Growth for All in the Region).
ii.It is a Soviet-era kilo class submarine and has served Indian Navy since 1988.
iii.India Ambassador to Myanmar Saurabh Kumar along with Myanmar Navy’s officials were present during the Induction ceremony.
About Myanmar:
Capital– Naypyidaw
Currency– Kyat
President– U Win Myint

National

GST Rules Amended; Businesses with Monthly Turnover of over Rs 50 lakh to pay at least 1% GST liability in cash

Ministry of Finance made amendments in the Goods and Services Tax (GST) Rules on the recommendations of the GST Council’s Law Committee in order to curb evasion by fake invoicing. The changes have been notified by the Central Board of Indirect Taxes and Customs (CBIC).
About Central Board of Indirect Taxes and Customs (CBIC):
Chairman – Ajit Kumar
Headquarter – New Delhi, Delhi.

Harsh Vardhan Inaugurates India’s Highest Meteorological Centre at Leh,Ladakh

Union Minister of Earth Sciences, Dr Harsh Vardhan virtually inauguratedIndia’s Highest Meteorological (Met) Centre at Leh, Ladakh (UT). It is situated at a height of 3500 metres from the mean sea level. Radha Krishna Mathur, Lieutenant Governor (LG) of Ladakh & Jamyang Tsering Namgyal, MP from Ladakh were the Guest of Honour at the event.
i.This is India’s Second Met Centre located in the Himalayas, the first one is located at Itanagar, Arunachal Pradesh.
ii.The Met centre has been established to prevent losses due to weather events such as Cloud bursts, Flash Floods, Avalanches & Glacial Lake Outbursts & to strengthen the Early Warning System in Ladakh.
About UT Ladakh
Lieutenant Governor– Radha Krishna Mathur
Capital– Leh, Kargil
About India Meteorological Department (IMD):
IMD’s Parent Organization is Ministry of Earth Sciences
Director General – Mrutyunjay Mohapatra
Headquarters – New Delhi

Economy

DBS Bank India Introduces ‘Travel Now’, a One-Stop Travel Marketplace Within Digibank App

On December 29, 2020 DBS Bank Indiaintroduced ‘Travel Now’, a one-stop travel marketplace within the digibank app. This new feature allows the customer to browse and book flights, bus tickets and hotels across many destinations within and outside of India. The customers also have the option to choose travel insurance, offered by Bharti AXA General Insurance, along with an automated claims process for flight cancellation, and flight departure and arrival delays of over 60 minutes.

Maintaining 4% inflation appropriate for India: RBI paper

i.In accordance with the paper authored by Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra and another official Harendra Kumar Behera, an inflation rate of 4% is appropriate for India.
ii.A lower rate could impart deflationary bias to the monetary policy while a higher trend renders monetary policy too expansionary and prone to inflationary shocks and unanchored expectations
iii.As per the paper, there is a steady decline in trend inflation to 4.1-4.3% since 2014.
iv.It should be noted that the views expressed in the paper are those of the authors and not of the RBI.
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. Rajeshwar Rao).

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Miscellaneous

Harsh Vardhan launches ‘Digital Ocean’ – 1st of its kind digital platform for Ocean Data Management

Union Minister for Earth Science, Dr Harsh Vardhan virtually launched ‘Digital Ocean’ (www.do.incois.gov.in) a 1st of its kind Digital platform for Ocean Data Management. The platform has been developed by INCOIS (Indian National Center for Ocean Information Services).
i.The platform will serve as a one stop-solutionfor all data related needs of a wide range of users such as research institutions, operational agencies, strategic users, academic community, maritime industry & public.
ii.Dr. M. Rajeevan, Secretary, Ministry of Earth Sciences (MoES), Dr. Vipin Chandra, Joint Secretary of MoES, Dr T Srinivasa Kumar, Director of INCOIS were present during the launch.
iii.Until now, there are multiple platforms for storing data from Oceans (Bay of Bengal & Arabian Sea), Digital Ocean will replace these platforms & will act as a single platform for repository of data.
iv.The platform has been designed in an interactive mode by using techniques like 3D, 4D data visualization.
About Indian National Center for Ocean Information Services (INCOIS):
An Autonomous Institution under the Ministry of Earth Sciences
Director – T Srinivasa Kumar
Location – Hyderabad, Telangana

DST Constitutes Committee Chaired by Prof. Santanu Chaudhury for Conservation of Indian Heritage using Futuristic Techi.

The Department of Science and Technology(DST) under Frontier and Futuristic Technologies (FFT) Divisionconstituted an advisory committee to use futuristic and new age technologies for conservation of Indian heritage conservation, documentation, and digital restoration.
ii.The committee will be chaired by Prof. Santanu Chaudhury, Director, IIT Jodhpur Rajasthan.
iii.With a focus on technical inputs to advance the heritage domain, Hardik Somani, Director and Chief Operating Officer of Sapio Analytics and lead of its Heritage Restoration Division is nominated as one of the members of the committee.
About Department of Science and Technology(DST):
DST is under the Ministry of Science and Technology.
Secretary– Prof Ashutosh Sharma
Union Minister of Science & Technology– Harsh Vardhan(Constituency- Chandni Chowk, New Delhi)
About Sapio Analytics:
CEO– Ashwin Srivastava
Headquarters– Mumbai, Maharashtra

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Daily Current Affairs | 17th April 2021

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