Weekly Current Affairs 1st August - 8th August 2021

FINANCE AND BANKING

• RBI issues framework for outsourcing of activities by Payment System Operators
  • RBI recently came out with a detailed framework for outsourcing of activities by Payment System Operators (PSOs) with a view to mitigate risks and ensure continuity of service.

• RBI denies Rupee Bank, MSC Bank merger nod
  • The Reserve Bank of India (RBI) has denied the stressed Rupee Cooperative Bank permission to merge with the Maharashtra State Cooperative Bank (MSCB) in a culmination of a process that has taken nearly two years.

• IndusInd Bank gets empanelled as Agency Bank to RBI
  • IndusInd Bank has been empanelled by the Reserve Bank of India (RBI) to act as an ‘Agency Bank’ to facilitate transactions related to government businesses.

ECONOMY

• Ministry of Corporate Affairs incorporates NARCL
  • The Ministry of Corporate Affairs (MCA) has incorporated the 'National Asset Reconstruction Company (NARCL)' with an authorised capital of INR 100 crore and paid-up capital of INR 74.6 crore.

• Businesses can now self-certify GST annual returns
  • GST taxpayers with a turnover of over Rs 5 crore can now self-certify their annual return, instead of a mandatory audit certification by chartered accountants, the CBIC has said.

• Retail inflation for industrial workers rises to 5.57 pc in June
  • Retail inflation for industrial workers rose to 5.57 per cent in June, mainly due to rising prices of certain food items.

NATIONAL

• PM Modi launched e-RUPI digital payment solution
  • Prime Minister Narendra Modi launched the digital payments solution e-RUPI.
  • The e-RUPI platform has been developed by National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority.

• Cabinet approved continuation of 1,023 fast-track special courts for 2 years
  • The Union Cabinet approved continuation of 1,023 fast track special courts, including 389 exclusive POCSO courts, as a centrally sponsored scheme for another two years.

• Govt web portal, mobile app to make skill development schemes accessible
  • The Union Minister for Social Justice and Empowerment Dr. Virendra Kumar launched 'PM-DAKSH' portal and 'PM-DAKSH' mobile app developed by the Ministry of Social Justice and Empowerment, together with the National E-Governance Division (NeGD), in a bid to make skill development schemes accessible all youth target groups.

INTERNATIONAL

• Nikol Pashinyan officially appointed Armenia's prime minister
  • Armenia's acting Prime Minister Nikol Pashinyan has been officially appointed as Armenia's prime minister.

• Germany becomes 5th country to sign International Solar Alliance Framework Agreement
  • Germany became the 5th country to sign International Solar Alliance Framework Agreement after amendments to it entered into force on 8th January 2021, opening its Membership to all Member States of the United Nations.

• Iran's new President Ebrahim Raisi sworn in
  • Iranian cleric Ebrahim Raisi has been sworn in as the Iran’s new president.
  • He became Iran's eighth president.

STATES

• Bhubaneswar becomes first Indian city to vaccinate 100% population against COVID-19
  • Bhubaneswar has become the first city to achieve 100 per cent COVID-19 vaccination. BMC had launched a massive vaccination drive against Covid-19.

• Karnataka becomes first state to issue order implementing NEP-2020
  • The government of Karnataka has issued an order, with regard to the implementation of National Education Policy-2020 with effect from the current academic year 2021-2022.

REPORTS AND INDEXES

• QS Best Student Cities Ranking 2022
  • QS Best Student Cities 2022 ranking has been released by the Quacquarelli Symonds.
  • QS Best Student Cities 2022 ranking has been released on the basis of affordability, standard of universities, quality of life and views of the former students.

• The US-India CEO Forum Launches a Report on the Future of Connectivity in India
  • Business Wire India The ICT Working Group of the US-India CEO Forum, launched a report titled the Future of Connectivity in India, at a virtual event hosted by the US-India Strategic Partnership Forum (USISPF).

• Small business loan disbursals rise 40% in FY21: report
  • SIDBI and TransUnion Cibil have jointly released Sidbi - TransUnion Cibil MSME Pulse Report.
  • As per that report, lenders have disbursed loans worth ₹9.5 trillion to micro, small and medium enterprises (MSMEs) in FY21, 40% higher than ₹6.8 trillion in the previous year.

SCIENCE AND TECHNOLOGY

• ISRO-NASA joint satellite project NISAR proposed to be launched early 2023
  • The ISRO-NASA joint mission NISAR (NASA-ISRO Synthetic Aperture Radar) satellite, aimed at making global measurement of land surface changes using advanced radar imaging, is proposed to be launched in early 2023.

• Eutelsat Quantum: Europe’s reprogrammable satellite
  • Eutelsat Quantum was launched into a geostationary orbit on board an Ariane 5 from Kourou.
  • This advanced telecommunications satellite is revolutionary as it offers its users the ability to reconfigure the satellite while in orbit.

• Sree Chitra to have India’s first heart failure biobank
  • The first National Heart Failure Biobank (NHFB) in the country that would collect blood, biopsies, and clinical data as a guide to future therapies was inaugurated at the Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST).

AGRICULTURE AND RURAL DEVELOPMENT

• APEDA inks MoU with University of Agricultural Science, Bangalore for boosting agri-exports
  • To give boost agricultural and processed food products exports especially from Karnataka, the Agricultural and Processed Food Products Export Development Authority (APEDA) signed Memorandum of Understanding (MoU) with University of Agricultural Science (UAS) Bangalore.

• KVIC’s Unique Plastic-Mixed Handmade Paper gets Patent for Invention to Recycle Waste Plastic
  • Khadi and Village Industries Commission (KVIC) has secured Patent registration for its innovative Plastic-mixed Handmade Paper developed to reduce plastic menace from nature.

• NABARD sanctions Rs 446 crore for drinking water projects in Punjab
  • NABARD has sanctioned Rs 445.89 crore for drinking water projects in Ferozepur, Fazilka, Hoshiarpur and Rupnagar districts of Punjab.

DEFENCE

• IAF inducts second squadron of Rafale aircraft at West Bengal's Hasimara
  • The Indian Air Force (IAF) formally inducted the second squadron of Rafale jets at West Bengal's Hasimara airbase in Eastern Air Command (EAC).
  • Hasimara is the second IAF base to be equipped with Rafale aircraft. The first squadron of the Rafale jets is stationed at Ambala Air Force station.

• INS Khanjar becomes the first Indian Navy ship to call at heritage coastal port of Gopalpur
  • Indian Naval Ship Khanjar becomes the first Indian Navy ship to call at the heritage coastal port of Gopalpur in Odisha.

• Indian Navy Undertakes Naval Exercise With UAE, 'Zayed Talwar 2021'
  • The Indian Navy took part in a bilateral exercise with the UAE Navy off the coast of Abu Dhabi. The naval exercise was named, ‘Zayed Talwar 2021'.
  • The bilateral naval exercise was designed to enhance the synergy between the navies of the two nations and develop a diplomatic partnership.

EVENTS

• G20 Culture Ministers' Meeting
  • The first G20 Culture Ministers’ Meeting was held in Rome in a major two-day event held under the Italian G20 presidency.
  • Meenakashi Lekhi, Minister of State for Culture participated in the G20 Culture Ministers’ Meeting hosted by Italy during their ongoing Presidency of G20 in 2021.

• India takes over UNSC presidency for August
  • India assumed the presidency of the United Nations Security Council for the month of August.
  • As part of its new role, India will decide the UN body’s agenda for the month and coordinate important meetings on a range of issues.

AWARDS AND REWARDS

• Lokmanya Tilak National Award
  • Businessman Cyrus Poonawalla, who is the founder-chairperson of the Pune-based Serum Institute of India (SII), has been named as a recipient of Lokmanya Tilak National Award for 2021.

• Prof CR Rao Centenary Gold Medal 2020
  • The Indian Econometric Society (TIES) Trust has conferred the inaugural Prof CR Rao Centenary Gold Medal (CGM) to two distinguished Indian scholars — Dr Jagdish Bhagwati and Dr C Rangarajan.

• West Bengal receives 4 SKOCH awards for its schemes under Ease of Doing Business initiative
  • The Government of West Bengal has received four SKOCH awards for its schemes under the Ease of Doing Business initiative.

SPORTS

• Rajiv Gandhi Khel Ratna Award renamed Major Dhyan Chand Khel Ratna Award
  • The Khel Ratna Award will now be known as Major Dhyan Chand Khel Ratna Award.
  • The Khel Ratna award is the highest sporting honour in the nation. It was officially known as Rajiv Gandhi Khel Ratna Award in Sports and Games.

• Labhanshu Sharma wins Bharat Kesari Wrestling Dangal for Uttrakhand
  • Indian Wrestler Labhanshu Sharma has created history by winning the Bharat Kesari Wrestling Dangal 2021 organised in Tamil Nadu this year.
  • 20 years since the formation of Uttarakhand, Labhanshu has won the title of Bharat Kesari for the state.

• Neeraj Chopra won gold, India’s first athletics medal at Olympics
  • Star javelin thrower Neeraj Chopra became only the second Indian to win an individual gold in the Olympics.
  • The 23-year-old farmer’s son from Khandra village near Panipat in Haryana produced a second round throw of 87.58m in the finals.