Current Affairs

1 November, 2021

International

13th Meeting of Heads of NSOs of BRICS Countries held virtually; Chaired by India’s Dr. G. P. Samanta

The 13th Meeting of Heads of National Statistical Offices (NSO) of BRICS (Brazil, Russia, India, China, South Africa) Countries was held virtually under the Chairship of India. The meeting was chaired by G. P. Samanta, Chief Statistician of India and Secretary, Ministry of Statistics and Programme Implementation (MoSPI), Government of India. The meeting was attended by representatives from the National Statistical Offices (NSOs) of BRICS Countries.

Theme of the meeting:
NSOs efforts in monitoring Sustainable Development Goals (SDGs)
Release of (JSP) 2021 and JSP Snapshot 2021:
During the meeting, the Joint Statistical Publication (JSP) 2021 and JSP Snapshot 2021 for BRICS Countries were released. The first chapter of JSP 2021 provides general information with comparable statistics of the five countries, while the other 14 states the past development and current status of the individual countries. The first BRICS JSP Snapshot 2021 was also released by NSO India which is a shorter version of BRICS JSL 2021. This snapshot is to engage a wide range of users, as per the agreement by the member countries.

National

Rajnath Singh Addresses “2021 Indo-Pacific Regional Dialogue”

Union Defence Minister Rajnath Singh addressed the “Indo-Pacific Regional Dialogue” (IPRD) 2021, where he highlighted the importance of protecting the maritime interest of countries & maintaining a rule-based maritime system as per the United Nations Convention on the Law of Seas (UNCLOS), 1982.
i.2021’s IPRD was held under the theme “Evolution in Maritime Strategy during the 21st Century: Imperatives, Challenges and Way Ahead”, in a virtual format between 27th -29th October 2021.
ii.Minister discussed on the potential of maritime trade & the challenges faced (Terrorism, piracy, drug trafficing) amonst the countries.
iii. Under IPRD 2021, Panel discussions were conducted on 8 specific sub-themes: Evolving Maritime Strategies within the Indo-Pacific Adaptive Strategies to Address the Impact of Climate Change upon Maritime Security Port-led Regional Maritime Connectivity and Development Strategies Cooperative Maritime Domain Awareness Strategies Impact of the Increasing Recourse to Lawfare upon a Rules-based Indo-Pacific Maritime Order Strategies to Promote Regional Public-Private Maritime Partnerships Energy-Insecurity and Mitigating Strategies Strategies to Address the Manned-Unmanned Conundrum at Sea

About IPRD:
IPRD is the annual international conference of the Indian Navy, organised since 2018, which reviews the opportunities & challenges faced in the Indo-Pacific region.
Chief Organiser – National Maritime Foundation, annually organises IPRD, it is also the knowledge partner of Indian Navy
About Indian Navy:
Chief of Naval Staff – Admiral Karambir Singh
Integrated Headquarters of Ministry of Defence (Navy) – New Delhi

REEL Launches India’s Largest Landfill Biogas Plant in Hyderabad

Ramky Enviro Engineers Limited (REEL) has inaugurated one of the world’s first and India’s largest landfill gas-to-compressed biogas plant at the Hyderabad Integrated Municipal Solid Waste (HiMSW) site, Telangana.
The end (Biogas) product of the plant will be sold to Bhagyanagar Gas Limited (BGL).
Main focus:
The project will focus on the conversation of landfill gas into compressed biogas as an automotive fuel.
About Ramky Enviro Engineers Limited (REEL)
Chairman: B.S Shantharaju
MD & CEO: Goutham Reddy
Headquarters: Hyderabad, Telangana

MoES launches India’s 1st Manned Ocean Mission ‘Samudrayan’ at Chennai

Dr Jitendra Singh, Minister of State (Independent Charge) – Ministry of Earth Science, launched India’s 1st Manned Ocean Mission ‘Samudrayan’ from the National Institute of Ocean Technology (NIOT) in Chennai, Tamil Nadu.With this launch, India joins the Unique set of countries in the World (like USA, Russia, Japan, France & China) to have an underwater vehicle to carry out subsea missions. MATSYA 6000, the manned submersible developed under India’s Deep Sea Mission, is currently developed with support from DRDO, ISRO & IIT Madras.

Note – In 2020, China touched the ocean depth of 11,000m using its manned submersible named ‘Fendouzhe’.
About Ministry of Earth Science (MoES):
MoES was established in February 2006, from the Department of Ocean Development (DoD) as the Ministry of Ocean Development
Organisations Under MoES: Indian Institute of Tropical Meteorology (IITM) – Pune, Maharashtra National Centre for Medium Range Weather Forecasting (NCMRWF) – Noida, Uttar Pradesh

Economy

RBI Eased Current Account Rules for Bank Exposures Less than Rs 5 crore

On account of the feedback received from the Indian Banks’ Association (IBA), the Reserve Bank of India (RBI) has eased the Current Account (CA) rules for bank exposures less than Rs 5 crore and allowed borrowers to open CAs, Cash Credit (CC) and OverDraft (OD) from the banking system under certain provisions.

About OverDraft(OD):

i.It is a credit facility that will be provided by banks to allow customers to use or withdraw money from their savings or current account even when there is no balance or minimum balance up to the approved limit.
ii.OD will work like an approved loan but the banks will charge interest only on the utilized amount for the time when it is used.

ADB Approved USD 250 Million Loan to Support India’s NICDP

The Asian Development Bank (ADB) approved the 250 million USD (~Rs 1873 crore) loan to support the National Industrial Corridor Development Program (NICDP) of India.
This is the first subprogram of the programmatic USD 500 million loan to develop 11 industrial corridors across 17 states.

This loan is in line with India’s reform agenda to strengthen industrial infrastructure and support to enhance the competitiveness of India’s manufacturing sector, increase the share of manufacturing in the Gross Domestic Products(GDP) and generate a high level of formal employment.

Features of the loan:
This first subprogram loan will create opportunities for domestic and foreign investors by providing support to the government initiatives to strengthen the institutional framework and capacity development for industrial corridor planning, improve project readiness, and facilitate ease of doing business.
About National Industrial Corridor Development Program (NICDP):
i.NICDP aims to develop world-class industrial nodes, supported by urban agglomerations and multimodal connectivity, international gateways like ports and airports and inclusive, climate-resilient, and sustainable infrastructure.
ii.The NICDP also desires to achieve strong institutional and regulatory frameworks.
Industrial Park Rating System (IPRS):
i.The Industrial Park Rating System (IPRS) has been upgraded to boost the industrial infrastructure competitiveness and support policies to enable industrialisation across India.
ii.As a part of NICDP, it is also developing guidelines for green corridor framework and climate-resilient infrastructure with a focus on enhancing skills of the female labour.
About Asian Development Bank (ADB):
President– Masatsugu Asakawa
Managing Director General– Woochong Um
Establishment in 1966
Members– 68 members(49 are from within Asia & the Pacific and 19 outside)
Headquarters– Metro Manila, Philippines

Sports

Harbhajan Singh, Javagal Srinath listed in MCC awards Honorary Life Membership

The Marylebone Cricket Club (MCC) released the list of 18 Cricketers who were selected for the MCC awards Honorary Life Membership of the Club. The list witnessed the names of 2 former Indian cricketers – Harbhajan Singh and Javagal Srinath.
i.MCC gives the privilege of Honorary Lifetime membership to some of the finest cricketers across the world.
ii.This year’s list saw the names of 18 players, including 16 Male & 2 Female players (arah Taylor & Sara McGlashan)
The 18 players present in this year’s list where from 8 of the 12 Test playing countries:

England – Alastair Cook, Ian Bell, Marcus Trescothick, Sarah TaylorSouth Africa – Hashim Amla, Herschelle Gibbs, Jacques Kallis & Morne Morkel

West Indies – Ian Bishop, Shivnarine Chanderpaul & Ramnaresh Sarwan
Australia – Alex Blackwell & Damien Martyn
India – Harbhajan Singh & Javagal Srinath
Sri Lanka – Rangana Herath
New Zealand – Sara McGlashan
Zimbabwe – Grant Flower
Indian Members:
i.Harbhajan Singh – Harbhajan with 417 career wickets, is India’s 3rd highest wicket taker in Test cricket, only after Anil Kumble (619) & Kapil Dev (434)
ii.Javagal Srinath – With 315 ODI wickets, Srinath is the 2nd highest wicket-taker for India in ODI format, only after Anil Kumble (334)
iii. Since the inception of the award, Indian cricketers like Kapil Dev, SM Gavaskar, Sachin Tendulkar, VVS Laxman & 32 other Indians have received the award.
About Melbourne Cricket Club (MCC):
President – Clare Connor (1st Female President of MCC)
Founded – 1838
Location – Melbourne, Australia
The Melbourne Cricket Ground (MCG) was established by the Melbourne Cricket Club in 1853

Miscellaneous

Govt Appointed Justice Ashok Bhushan as Chairperson of NCLAT & Justice Ramalingam Sudhakar as President of NCLT

The Appointments Committee of the Cabinet(ACC) has approved the proposal to appoint Justice Ashok Bhushan, former Judge of the Supreme Court of India, as the Chairperson of National Company Law Appellate Tribunal (NCLAT) for a period of 4 years from the date of assumption of charge of the post or till he attains the age of 70 years or until further order.
About Justice Ashok Bhushan:
i.Justice Ashok Bhushan hails from the Jaunpur district of Uttar Pradesh.
ii.He has served as the Judge in Allahabad High court and also served as Judge, Acting Chief Justice, and Chief Justice of the High Court of Kerala.
iii.He was later elevated as Judge of the Supreme Court of India in May 2016 and served till July 2021.
Justice Ramalingam Sudhakar appointed as President of NCLT:
The government has also approved the appointment of Justice Ramalingam Sudhakar, former chief justice(CJ) of Manipur High Court(HC) as the President of the National Company Law Tribunal (NCLT).
Background:
Following the retirement of Justice Mahesh Mittal Kumar as President of NCLT on 5th January 2020, BSV Prakash Kumar was appointed as the Acting President of NCLT, followed by 6 acting presidents.
About Justice Ramalingam Sudhakar:
i.Justice Ramalingam Sudhakar hails from Tamil Nadu.
ii.He has served as the Acting Chief Justice of Jammu and Kashmir High Court and Judge of Jammu and Kashmir High Court and Madras High Court.
iii.He was Elevated as Chief Justice of Manipur High Court in May 2018 and retired in February 2021.
About National Company Law Appellate Tribunal (NCLAT):
NCLAT was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders NCLT, with effect from 1st June 2016.
Principal Bench– New Delhi
About National Company Law Tribunal (NCLT):
NCLT was constituted under section 408 of the Companies Act, 2013 (18 of 2013) with effect from 1st June 2016.
Principal Bench– New Delhi
Other Benches– 14 (Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai, Cuttack, Jaipur, Kochi, Amravati, and Indore)

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