Weekly Current Affairs 1st November - 8th November 2021

FINANCE AND BANKING

• RBI tweaks norms for initiating prompt corrective action against banks
  • RBI recently modified its prompt corrective action (PCA) framework to exclude the parameter of return on assets (ROA) from the list of triggers.

• Bandhan Bank gets empanelled as agency bank of RBI
  • The Reserve Bank of India (RBI) has authorised Bandhan Bank as its agency bank for undertaking government businesses. It will allow the bank to undertake government businesses on behalf of the RBI.

• Debenture trustees cannot act as trustee for digital gold: SEBI
  • SEBI recently said that debenture trustees are not allowed to act as a trustee for unregulated products such as digital gold. Earlier, it had restrained investment advisers and stock brokers from dealing in digital gold.

ECONOMY

• IRCTC plans Shri Ramayana Yatra train tours for promoting Religious Tourism
  • The IRCTC has planned a series of Shri Ramayana Yatra Tours to promote religious tourism.
  • To meet the requirement of the pilgrim tourist market of south India, IRCTC will be operating Shri Ramayana Yatra Express-Madurai with its budget-segment train comprising of sleeper class coaches.

• GoI constitutes panel to monitor development and implementation of the PM Gati Shakti NMP
  • Government of India has constituted a 20-member Empowered Group of Secretaries (EGoS), which will be a monitoring mechanism for the development and implementation of the PM Gati Shakti National Master Plan (NMP).

• CCI approves acquisition by HDFC Life Insurance of 100% shareholding in Exide Life Insurance
  • The Competition Commission of India (CCI) approves acquisition by HDFC Life Insurance Company (Acquirer) of 100% shareholding in Exide Life Insurance Company Limited (Target) under Section 31(1) of the Competition Act, 2002.

NATIONAL

• Chennai – Mysore Shatabdi Express gets IMS certification
  • The Chennai – Mysore – Chennai Shatabdi Express has received Integrated Management Systems (IMS) certification for maintenance and better use of environment-friendly resources and for offering travel comfort.

• Diversion of Marusudar river at Pakal Dul HE Project in J&K inaugurated
  • Union Minister for Power, New and Renewable Energy RK Singh inaugurated the diversion of Marusudar River of Pakal Dul Hydro Electric Project through video conferencing in Kishtwar district of Jammu & Kashmir.

• PM Modi unveils Adi Shankaracharya statue in Kedarnath
  • Prime Minister Narendra Modi unveiled a 12-foot high statue of Adi Shankaracharya at Kedarnath.
  • Made of chlorite schist, the Shankaracharya statue, weighing 35 tonnes, has been built at the seer’s samadhi sthal that has been redeveloped after it suffered heavy damage during the 2013 deluge.

INTERNATIONAL

• ‘VAX’ named Oxford English Dictionary’s word of the year
  • The Oxford English Dictionary (OED) has named vax as the word of the year for 2021. Its usage was up 72 percent from the previous year.

• Deepavali Day Act: Legislation Introduced to Make Diwali Nationally-recognised Holiday in United States
  • Congresswoman Carolyn B Mahoney announced introducing a bill in US Congress, legislation that would make Diwali a nationally recognized federal holiday.
  • If the bill gets approval in the coming years, the holiday would be observed in federal institutions.

• Britain approves Merck's COVID-19 pill in world first
  • Britain became the first country in the world to approve a COVID-19 antiviral pill, Molnupiravir, jointly developed by U.S.-based Merck & Co Inc (MRK.N) and Ridgeback Biotherapeutics, in a boost to the fight against the pandemic.

STATES

• National Tribal Dance Festival 2021
  • The dance festival of Chhattisgarh, National Tribal Dance Festival, was inaugurated by Chief Minister of Jharkhand Hemant Soren and Chief Minister of Chhattisgarh Bhupesh Baghel at Science College ground in Raipur, the capital of Chhattisgarh.

REPORTS AND INDEXES

• Public Affairs Index rankings 2021
  • Public Affairs Index (PAI) 2021 is released by the Public Affairs Centre in Bengaluru.
  • In the Public Affairs Index-2020, Kerala the best governed state followed by Tamil Nadu and Telangana, while Uttar Pradesh ended at the bottom in the large states category.

• QS Asia University Rankings 2022
  • QS Quacquarelli Symonds, global higher education think-tank and compilers of the world's most-consulted university rankings portfolio, released the QS Asia University Rankings 2022 for the continent's best higher education institutions.
  • Top Ranked Asian University: The National University of Singapore has come up as Asia’s best university for the fourth consecutive year.
  • Top Ranked Indian Universities: The top three Indian universities to feature on the Asia Rankings are IIT Bombay (Rank 42), IIT Delhi (Rank 45), and IIT Madras (Rank 54).

• Edelgive Hurun India Philanthropy List of 2021
  • Hurun India and EdelGive have jointly released the Edelgive Hurun India Philanthropy List 2021.
  • The list was topped by Azim Premji, the founder chairman of Wipro, with a donation of Rs 9,713 crore during fiscal 2020-21 which is around Rs 27 crore a day.

AGRICULTURE AND RURAL DEVELOPMENT

• Apple Festival launched in J&K
  • Union Agriculture Minister, Narendra Singh Tomar and Lt Governor, Manoj Sinha has virtually inaugurated Apple Festival in Srinagar, Jammu and Kashmir.

• Dairy Sahakar Scheme launched
  • Ministry of Cooperation recently launched the “Dairy Sahakar” scheme at Anand, Gujarat.
  • The total outlay of the Dairy Sahakar scheme is Rs 5000 crore. The scheme will be implemented by National Cooperative Development Corporation (NCDC) under the Ministry of Cooperation.

• Haryana Govt launched ‘Uttam Beej portal’
  • Haryana State Government has launched the ‘Uttam Beej portal’ which will benefit the farmers of Haryana by providing quality seeds with transparency.
  • It will provide transparency in the seed production programme arranged by both the Government and private seed producing agencies and ensure the quality of certified seeds.

DEFENCE

• Indian Navy’s stealth frigate Tushil launched in Russia
  • The seventh frigate of P1135.6 class for the Indian Navy was launched at Yantar Shipyard in Russia's Kaliningrad. The ship was formally named as 'Tushil', which means protector shield in Sanskrit.

• IDF’s Exercise Blue Flag, 2021
  • The Israeli Defence Force (IDF) has hosted seven air forces at its biennial Exercise Blue Flag at Ovda Airbase near Eilat in southern Israel.
  • Blue Flag is described as an international training exercise hosting air forces from around the world to strengthen cooperation between the nations.

• India and UK Take Part In Joint Exercise Konkan Shakti 2021
  • The sea phase of the maiden bilateral tri-service exercise 'Konkan Shakti 2021' between the UK and Indian Armed Forces commenced off the Konkan coast in the Arabian Sea.
  • All participating units were split into two opposing forces with the aim of achieving sea control to land Army ground-troops at a pre-designated site.

EVENTS

• CII Asia Health 2021 summit
  • Union Minister for Health and Family Welfare, Dr. Mansukh Mandaviya addressed the inaugural session of CII Asia Health 2021 summit.
  • The theme of the summit is ‘Transforming Healthcare for a better tomorrow’.

• G20 Summit 2021
  • The 2021 G20 Rome summit was the sixteenth meeting of Group of Twenty (G20), which was held in Rome, Italy.
  • The two-day summit was held both online and offline under the Italian Presidency of the G20.

• Ambassadors’ Round Table for DefExpo 2022
  • In an attempt to boost outreach to foreign nationals, Union Defence Minister Rajnath Singh chaired the Ambassadors’ Round Table for DefExpo 2022, in New Delhi.
  • The intention of this Round Table revolved around briefing the Ambassadors of foreign missions regarding the planning and arrangement of the DefExpo 2022, which is scheduled to be held between March 10-13 in Gandhinagar, Gujarat.

AWARDS AND REWARDS

• Basavashree Award 2021
  • Kannada actor Puneeth Rajkumar will be posthumously conferred the Basavashree Award 2021 by the Bruhanmutt.

• Booker Prize 2021
  • Damon Galgut became the third South African novelist to win the Booker Prize for his novel, The Promise.
  • The novel which won the author 50,000-pound ($69,000) prize centers around a white African family and the promise they made to their black house help, Salome, of giving her the house she stays in along with the land.

• Tenzing Norgay National Award 2020
  • The Tenzing Norgay National Adventure Award, formerly known as National Adventure Awards, is the highest adventure sports honour of India.
  • Here are the winners of 2020:

SPORTS

• Unmukt Chand to become 1st Indian male to play in Australia's Big Bash League
  • Unmukt Chand is set to become the first Indian player to play in Australia's Big Bash League (BBL) signed by Melbourne Renegades.

• J&K team for deaf clinches 1st position in World Deaf Judo Championship
  • The J&K team for deaf clinched 1st position in World Deaf Judo Championship held at Paris Versailles, France.
  • Rakshanda Mehak who is part of the Indian team for the deaf clinched the bronze medal by defeating the South Korean team in the semifinal.

• ISSF President's Cup: Manu Bhaker, Javad Foroughi Win Air Pistol Mixed Team Gold
  • India's woman pistol ace Manu Bhaker and Iran's reigning Olympic champion Javad Foroughi won the 10m air pistol mixed team gold at the inaugural ISSF President's Cup at Wroclaw, Poland.