Weekly Current Affairs 16th July - 22nd July 2021

FINANCE AND BANKING

• RBI announces G-SAP 2.0 auction; includes illiquid paper
  • Reserve Bank of India recently announced a second tranche of purchase of government securities under Government Securities Acquisition Programme (G-SAP 2.0) worth Rs 20,000 crore.
  • This time, the central bank included 6.18%-2024, 6.97%-2026, 8.20%-2028, and 6.79%-2029 gilts, which have a low trading volume in the market.

• RBI launches two key surveys
  • The Reserve Bank of India (RBI) recently launched its quarterly Industrial Outlook Survey (IOS) to assess the performance of the manufacturing sector.

• RBI proposes changes in fund raising norms of urban co-operative banks
  • The Reserve Bank of India (RBI) has proposed changes in rules for fundraising by primary (urban) co-operative banks.
  • UCBs are permitted to raise equity share capital, as hitherto, by way of issue of equity shares to persons within their area of operation enrolled as members, in accordance with the provisions of their bye-laws, and issue of additional equity shares to the existing members.

ECONOMY

• Rs 50,000-crore guaranteed credit scheme for health infrastructure to cover loans from May 7
  • National Credit Guarantee Trustee Company (NCGTC) has notified the proposed Rs 50,000-crore guaranteed credit scheme for bolstering health infrastructure, which will cover loans sanctioned between May 7, 2021, and March 31, 2022.

• 6.66 lakh direct, indirect jobs generated by 22 operational mega food parks: Govt
  • Ministry of Food Processing Industries recently said that about 6.66 lakh direct and indirect jobs have been generated by 22 operational mega food parks.
  • The ministry has been implementing Mega Food Park Scheme to create modern infrastructure for the food processing sector.

• ADB cuts India’s FY22 economic growth forecast to 10 pc; inflation seen rising marginally to 5.5 pc
  • The Asian Development Bank (ADB) has downgraded India’s economic growth forecast for the current financial year to 10 per cent from 11 per cent projected earlier this year, mainly on account of the adverse impact of the coronavirus pandemic.

NATIONAL

• 75 Jan Shikshan Sansthans sanctioned World Youth Skills Day
  • Prime Minister Narendra Modi addressed the nation on the occasion of World Youth Skills Day 2021. World Youth Skills Day is celebrated annually on 15 July.

• PM Modi inaugurates JICA-funded Rudraksh convention centre in Varanasi
  • Prime Minister Narendra Modi inaugurated the Rudraksh International Cooperation and Convention centre in his parliamentary constituency of Varanasi.

• Prasar Bharati, IIT-K to collaborate on NextGen broadcasting tech
  • Prasar Bharati, India’s Public Service Broadcaster and the Indian Institute of Technology, Kanpur (IIT-K) will set up a Center of Excellence for Media and Broadcasting Technologies at IIT-Kanpur, as a follow up of a memorandum of understanding (MoU) signed between the two entities.

INTERNATIONAL

• UAE becomes first Gulf nation to open embassy in Israel
  • The United Arab Emirates became the first Gulf nation to open an embassy in Israel.
  • The new mission is located in Tel Aviv Stock Exchange building.

• China begins construction of world’s 1st commercial small modular reactor
  • China has officially begun the construction of the world’s first commercial modular small reactor ‘Linglong One’ at the Changjiang Nuclear Power Plant in the country’s Hainan Province.

• China’s 600 kph maglev train makes public debut
  • China has unveiled a high-speed maglev train with a designed top speed of 600 kms per hour. It is stated to be the world’s fastest ground vehicle.
  • The new maglev transportation system made its public debut in the coastal city of Qingdao, China’s east Shandong province.

STATES

• Karnataka Electric Bike Taxi Scheme-2021
  • To ensure affordable first-and last-mile connectivity in Bengaluru and other cities in Karnataka, Chief Minister BS Yediyurappa unveiled the Karnataka Electric Bike Taxi Scheme-2021. This will serve as a bridge between public transport and daily commuters.

• Maharashtra EV policy to accelerate electric vehicle adoption
  • The policy, announced by Maharashtra environment minister Aditya Thackeray, has set a target of having 10% of new vehicle registered to be electric by 2025, electrification of 25% of public transport and last mile delivery by 2025, converting 15% of the state transport corporation’s fleet to electric, government vehicles going electric from April 2022 and e-commerce, logistics companies to transit 25% of their fleet transition to electric by 2025.

• 'Bonalu' festival begin in Telangana
  • Telangana is all set to celebrate the ‘Bonalu' festival, one of the biggest traditional folk festivals in the state.

REPORTS AND INDEXES

• 120 million people pushed to extreme poverty by COVID-19 pandemic
  • United Nations published Sustainable Development Goals Report 2021.
  • In addition to four million deaths worldwide from COVID-19, between 119-124 million people were pushed back into poverty and chronic hunger and 255 million full-time jobs were lost from the pandemic, according to the Report.

• Commonwealth Countries lost Trade worth USD 345 billion in 2020: Commonwealth Trade Review 2021
  • Commonwealth Association has published 'Energising Commonwealth Trade in a Digital World: Paths to Recovery Post-COVID'.
  • According to the report, due to COVID-19 commonwealth countries lost trade worth USD 345 billion worth of trade in 2020, including USD 60 billion in intra-Commonwealth trade.

SCIENCE AND TECHNOLOGY

• IIT Madras develops AI-based algorithm to identify cancer-causing alterations
  • The Indian Institute of Technology (IIT) Madras researchers have developed an Artificial Intelligence (AI)-based mathematical model to identify cancer-causing alterations in cells.
  • The algorithm uses a technique of leveraging DNA composition to pinpoint genetic alterations responsible for cancer progression.

• Jeff Bezos launches to space aboard New Shepard rocket ship
  • Amazon CEO Jeff Bezos blasted off Blue Origin's New Shepard flight from its Launch Site One in a remote location in the West Texas desert in the United States.
  • New Shepard is a fully autonomous spacecraft is built by Bezos’ company Blue Origin.

• IIT Ropar develops first-of-its-kind Oxygen rationing device - AMLEX
  • To increase the life of medical oxygen cylinders three fold, the Indian Institute of Technology, Ropar has developed a first-of-its-kind Oxygen Rationing Device – AMLEX that supplies a required volume of oxygen to the patient during inhalation and trips when the patient exhales CO2.

AGRICULTURE AND RURAL DEVELOPMENT

• Horticulture production hits record high at 329.86 million tonnes, says Agriculture Ministry
  • According to the second advance estimate of horticulture production released by the Ministry of Agriculture, India is expected to have the highest ever horticulture production of 329.86 million tonnnes in 2020-21, up by 2.93% over previous year.

• Tea exports fall to 203.8 million kg in 2020-21
  • Tea exports dipped to 203.8 million kg during the 2020-21 fiscal compared to 241.31 million kg in the corresponding period a year ago, official data showed.

• 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

• DRDO successfully flight-tests indigenously developed MPATGM for minimum range
  • Defence Research and Development Organisation (DRDO) successfully flight-tested indigenously developed low weight, fire and forget Man Portable Antitank Guided Missile (MPATGM).

• DRDO successfully test-fires new-generation Akash surface-to-air missile
  • The Defence Research and Development Organisation (DRDO) has successfully flight-tested the latest Akash surface-to-air missile system. The test was conducted from a test range off the Odisha coast.

• Russia to conduct military drills with Uzbekistan, Tajikistan near Afghan border
  • Russia will conduct military drills in August with Tajikistan and Uzbekistan near the border with Afghanistan.
  • The joint drills will take place at the Kharbmaidon training ground in Tajikistan near the Afghan border.

EVENTS

• World Universities Summit
  • Vice President of India M. Venkaiah Naidu addressed the World Universities Summit organized by O.P. Jindal Global University as a Chief Guest.
  • Union Education and Skill Development Minister Shri Dharmendra Pradhan also addressed the summit.

AWARDS AND REWARDS

• Payal Kapadia wins best documentary award in Cannes
  • Mumbai-based filmmaker and Film and Television Institute (FTII), Pune, alumnus Payal Kapadia won the L’Oeil d’Or (Golden Eye) Award, an award for best documentary, at the 74th Cannes Film Festival for her film “A Night of Knowing Nothing”.

• 74th Annual Cannes Film Festival
  • The 74th annual Cannes Film Festival took place in Cannes, France.
  • American director, and screenwriter Spike Lee was jury president.
  • French filmmaker Julia Ducournau became the second-ever female director to win the Palme d’Or. The last time a woman won the top prize was in 1993 when Jane Campion shared honors in a tie with Chen Kaige.

• United Nations Development Fund’s Equator Prize 2021
  • Aadhimalai Pazhangudiyinar Producer Company Limited and Snehakunja Trust are among the 10 awardees of the prestigious UNDP Equator Prize 2021 for their work in the field of conservation and biodiversity.

SPORTS

• Babar Azam becomes fastest batsman to score 14 ODI centuries
  • Pakistan skipper Babar Azam became the quickest to 14 ODI centuries reaching the milestone in 81 innings at Edgbaston, Birmingham in the third ODI against England.

• British Grand Prix 2021
  • The 2021 British Grand Prix (officially known as the Formula 1 Pirelli British Grand Prix 2021) was a Formula One motor race held at the Silverstone Circuit. It was the tenth round of the 2021 Formula One World Championship.
  • Mercedes’ Lewis Hamilton was the winner.

• Mithali Raj takes No.1 spot in ICC Women's ODI player rankings for 8th time
  • India women's Test and ODI team captain Mithali Raj rose to the No.1 spot in women's ODI rankings for batters. This is the eighth time in her 22-year international career that Raj has taken the top spot.