Monthly Current Affairs July 2021

FINANCE AND BANKING

• RBI tweaks norms for interest on unclaimed amount after deposit matures
  • RBI recently tweaked the norms for interest on the amount left unclaimed with the bank after a term deposit matures.
  • Currently, if a term deposit matures and the proceeds are unpaid, the amount left unclaimed with the bank attracts the rate of interest as applicable to savings deposits.

• RBI launches latest round of quarterly survey on manufacturing sector
  • RBI recently has launched the latest round of its quarterly Order Books, Inventories and Capacity Utilisation Survey (OBICUS) of the manufacturing sector, results of which are used in monetary policy formulation.
  • It has been conducting the OBICUS of the manufacturing sector on a quarterly basis since 2008.

• RBI penalises SBI, 13 other banks for non-adherence to NBFC lending rules
  • RBI has penalised 14 banks including State Bank of India, IndusInd Bank, Bandhan Bank and Bank of Baroda for non-compliance of various lending norms.

ECONOMY

• Govt brings Dept of Public Enterprises under Finance Ministry
  • The Central Government has brought Department of Public Enterprises (DPE) under the Finance Ministry in a bid to facilitate its ambitious disinvestment programme.
  • Earlier, DPE was part of Ministry of Heavy Industries and Public Enterprises.

• India reports current account surplus of 0.9% in FY21
  • India reported a current account surplus of 0.9 per cent of GDP in the pandemic-hit FY21, as against a deficit of 0.9 per cent in FY20, as per RBI data.
  • The CAD, the gap between the country’s overall foreign receipts and payments, is an important factor representing a nation’s external sector’s strength.

• PayNearby onboards 10,000 women business correspondents
  • The branchless banking and digital payments network, PayNearby will be onboarding 10,000 women BC Sakhis from Self Help Groups (SHGs) to offer banking services to various Gram Panchayats in Uttar Pradesh.

NATIONAL

• Eight states get new governors
  • President Ram Nath Kovind has appointed new governors in eight states.
  • The appointments will take effect from the dates they assume charge of their respective offices.

• Education minister launched NIPUN Bharat to help children attain foundational literacy
  • Union Education Minister Ramesh Pokhriyal ‘Nishank’ launched the National Initiative for Proficiency in Reading with Understanding and Numeracy (NIPUN Bharat) for ensuring that every child in the country necessarily attains foundational literacy and numeracy by the end of grade 3, by 2026-27.

• Jaipur To Get India's Second Largest Cricket Stadium After Motera
  • In a boost to cricket infrastructure, the Board of Control for Cricket in India (BCCI) released a financial grant of Rs 100 crore to the Rajasthan Cricket Association (RCA), which will be used to build India's second-largest cricket stadium.
  • The facility, which will be second to the Narendra Modi Stadium in Ahmedabad, is set to be built in Jaipur.

INTERNATIONAL

• Ariel Henry appointed new Prime Minister of Haiti
  • Amid political turmoil caused by the assassination of President Jovenel Moise, Ariel Henry was appointed as the new Prime Minister of Haiti.
  • Ariel Henry is a neurosurgeon and former cabinet minister.
  • Henry will lead the nation until a new President is chosen in an election scheduled for September.

• Sher Bahadur Deuba Becomes Nepal Prime Minister For Fifth Time
  • Nepali Congress President Sher Bahadur Deuba became the country's Prime Minister. This is the fifth time that 74-year-old Deuba is returning to power as the Prime Minister of Nepal.
  • He replaced incumbent K P Sharma Oli.

• China declared malaria-free by WHO
  • China was officially certified ‘malaria-free’ by the World Health Organization (WHO), becoming the second country in the Asia Pacific region to get the tag, after Sri Lanka in 2016.
  • The Asia Pacific Leaders Malaria Alliance (APLMA), Asia Pacific Malaria Elimination Network (APMEN) and their partner The RBM Partnership welcomed China’s achievement and noted the country’s contributions in the fight against malaria.

REPORTS AND INDEXES

• Global Cybersecurity Index 2020
  • Global Cybersecurity Index 2020 (GCI) is released by the International Telecommunication Union (ITU), the United Nations (UN) agency for information and communication technologies (ICT)
  • GCI assessment is done on the basis of performance on five parameters of cybersecurity.

• Global Startup Ecosystem Index 2021
  • Startup Blink has published Global Startup Ecosystem Index 2021.
  • India has jumped three spots up in the global start-up ranking this year.
  • India stands at the 20th spot among the top 100 countries that have been ranked.
  • The US, the UK, Israel, Canada and Germany are in the top five spots this year.

• INDO-UK FTA can help achieve Aatmanirbhar Bharat: UKIBC Report
  • The UK India Business Council has launched its report ‘Road to a UK-India Free Trade Agreement: Enhancing the Partnership and achieving Self-Reliance’.
  • It sets out how a comprehensive UK-India FTA should accelerate self-reliance and why international investors’ perceptions of Aatmanirbhar Bharat should be wholly positive.

SCIENCE AND TECHNOLOGY

• Two new spider species found in Maharashtra
  • Two new species of jumping spiders have been discovered from the Thane-Kalyan region of Maharashtra.

• Rare black-bellied coral snake found in Uttarakhand for first time in history
  • Black-bellied Coral snake has been discovered in forests of Uttarakhand for the first time in history, by a group of researchers. The snake belongs to the Elapidae family of Sinomicrurus genus, namely, S. nigriventer.

• ISRO plans to launch GISAT-1 in August
  • THE Indian Space Research Organisation (ISRO) is getting back into launch activity fully at Sriharikota spaceport with the planned orbiting of geo imaging satellite GISAT-1 on board GSLV-F10 rocket on August 12.
  • It’s going to be only the second launch of the Bengaluru-headquartered space agency in the COVID-19-hit 2021.

AGRICULTURE AND RURAL DEVELOPMENT

• Govt launches mobile app 'Matsya Setu' for aqua farmers
  • Fisheries, Animal Husbandry and Dairying Ministry launched a mobile app 'Matsya Setu' to disseminate the latest freshwater aquaculture technologies to the country's aqua farmers.
  • The app has been developed by the ICAR-Central Institute of Freshwater Aquaculture (ICAR-CIFA), Bhubaneswar, with the funding support of the National Fisheries Development Board (NFDB), Hyderabad.

• KVIC’s Unique Project BOLD to Boost Tribals’ Income and Bamboo-based Economy in Rajasthan
  • A unique scientific exercise serving the combined national objectives of reducing desertification and providing livelihood and multi-disciplinary rural industry support has been initiated by Khadi and Village Industries Commission (KVIC).

• IFFCO Kisan Sanchar setting up 17 FPOs in Gujarat in tie-up with NABARD, NCDC
  • IFFCO Kisan Sanchar Ltd is setting up 17 Farmer Producer Organisation (FPOs) in Gujarat in association with NABARD and NCDC.

DEFENCE

• Grene Robotics develops India’s 1st indigenous drone defence dome – ‘Indrajaal’
  • Hyderabad-based technology R&D firm Grene Robotics has designed and developed India’s first indigenous drone defence dome called “Indrajaal”.
  • The drone defence dome has the capability to autonomously protect an area of 1000-2000 sq km against the aerial threats by assessing and acting on aerial threats such as Unmanned Aerial Vehicles (UAVs), loitering munitions, and Low- Radar Cross Section (RCS) targets.

• Indian navy warship conducts military exercise with South Korean vessel in East China Sea
  • In Indian Navy warship ASW Corvette INS Kiltan carried out a Navy Partnership Exercise with a Republic of Korea Navy Ship ROKS Gyeongnam in the East China Sea.

• DRDO’s Short Span Bridging System-10 m inducted into Indian Army
  • The first production lot of 12 Short Span Bridging System (SSBS)-10 m, has been inducted into Indian Army by Chief of the Army Staff General MM Naravane during a ceremony held at Cariappa Parade Ground, Delhi Cantt.

EVENTS

• 7th Indian Ocean Naval Symposium (IONS)
  • The 7th edition of Indian Ocean Naval Symposium (IONS), a biennial event, was hosted by the French Navy at La Réunion.
  • Admiral Karambir Singh, Chief of the Naval Staff, Indian Navy, participated virtually in the inaugural session of the event.
  • France has assumed the Chairmanship in Jun 2021 for a two-year tenure.

• 52nd International Film Festival of India (IFFI) to be held in November 2021 in Goa
  • The 52nd International Film Festival of India (IFFI) will be held from 20th -28th November 2021 in Goa.
  • The 52nd edition of IFFI will be held in a hybrid format considering the success of the 51st edition in January 2021.

• Third G20 Finance Ministers and Central Bank Governors Meeting
  • The G20 Finance Ministers and Central Bank Governors (FMCBGs) gathered in Venice for their third official meeting under the Italian G20 Presidency.

AWARDS AND REWARDS

• Documentary on singer Shankar Mahadevan wins international recognition
  • ‘Decoding Shankar’ directed by Deepti Pillai Sivan won the award for Best Biographical Film at the Ranto Women’s Film Festival.
  • ‘Decoding Shankar’ is a documentary film based on the life of singer and music director Shankar Mahadevan. Shankar Mahadevan himself narrates the music career.

• Kuvempu Rashtriya Puraskar 2020
  • The Kuvempu Rashtriya Puraskar, the national award instituted in memory of late poet laureate Kuvempu, has been awarded to renowned Odia poet Dr Rajendra Kishore Panda for the year 2020.
  • The prestigious award carries a cash award of Rs 5 lakh, a silver medal, and a citation.

• Invest India won most innovative Investment Promotion Agency 2021 award
  • Invest India has been awarded the World’s most innovative Investment Promotion Agency 2021 by OCO Global.
  • Invest India is the advisor, guide, and facilitator to every investor looking to make a home in India.

SPORTS

• Indian-origin American Abhimanyu Mishra becomes youngest ever chess Grandmaster
  • Indian-origin American Abhimanyu Mishra has become the youngest-ever chess Grandmaster in the world.
  • At 12 years, four months and 25 days, he obliterated the long-standing record held by Sergey Karjakin, who was 12 years and seven months old when he attained the title.

• Mary Kom & Manpreet to be India's flag-bearers at Olympics opening ceremony
  • Indian Olympic Association have announced that 6-time world champion boxer M C Mary Kom and men's hockey team skipper Manpreet Singh will be India's flag bearers at the opening ceremony of the Tokyo Olympics.

• Saikhom Mirabai Chanu Wins Silver In Weightlifting
  • Former world champion Saikhom Mirabai Chanu weightlifted of 202 kgs (87+115) to claim the silver medal in the women's 49kg category at Tokyo 2020 Olympics. Mirabai, 26, thus won the first medal for India in the Tokyo Olympics.