Weekly Current Affairs 23rd September- 30th September 2021

FINANCE AND BANKING

• RBI allows banks to sell fraud loans to asset reconstruction companies
  • RBI recently allowed banks to sell fraud loan exposures to asset reconstruction companies (ARCs).
  • Banks will now be able to transfer to ARCs loan exposures classified as fraud as on the date of transfer, provided that the responsibilities of the bank with respect to continuous reporting, monitoring, filing of complaints with law enforcement agencies and proceedings related to such complaints shall also be transferred to the ARC.

• RBI declares minimum ticket size to issue securitisation notes
  • The Reserve Bank of India recently issued guidelines regarding the Securitisation of Standard Assets.
  • As per the guidelines, the minimum ticket size for the issuance of securitization notes will be Rs. 1 crore.

• Bank deposits rise 11.9% in FY21 on higher CASA growth: RBI data
  • Bank deposits grew 11.9 per cent year-on-year during 2020-21 compared to 8.8 per cent in 2019-20 on the back of high growth in current account and savings account (CASA) deposits, RBI data showed.
  • The share of CASA deposits increased to 43.7 per cent in March 2021 compared to 41.7 per cent a year ago, according to the Reserve Bank of India (RBI’s) Deposits with Scheduled Commercial Banks.

ECONOMY

• Govt shortlists Cyril Amarchand Mangaldas as legal advisor for LIC IPO
  • The government has shortlisted Cyril Amarchand Mangaldas for giving legal advice on upcoming mega IPO of India’s largest insurance company LIC.

• ECGC to get Rs 4,400-crore govt capital support; IPO in FY23
  • The government will launch the initial public offering (IPO) of Export Credit Guarantee Corporation of India (ECGC) in FY23 to “unlock its true value” and infuse a capital of Rs 4,400 crore into the company, which has an 85% share in the country’s export credit insurance market, over the next five years.

• NTPC gets shareholders’ nod to raise up to Rs 18,000 cr via bonds
  • NTPC has got shareholders’ approval to raise up to Rs 18,000 crore through the issuance of bonds or debentures.

NATIONAL

• Prime Minister Modi’s 3-day visit to US
  • Prime Minister Narendra Modi visited US for three-days.
  • He addressed the General Debate of the High-Level Segment of 76th Session of UN General Assembly (UNGA). The theme for this year's general debate was “Building resilience through hope to recover from COVID-19, rebuild sustainability, respond to the needs of the planet, respect the rights of people and revitalise the United Nations.”

• RN Ravi resigns as interlocutor for Naga peace talks
  • Tamil Nadu Governor R N Ravi resigned as the interlocutor for the Naga peace talks.
  • Ravi had been holding peace negotiations with the Naga insurgent group NSCN-IM since 2014.

• Pradhan Mantri National Digital Health Mission launched
  • In an effort to scale up the healthcare infrastructure and services across the country, Prime Minister Narendra Modi will launch the Pradhan Mantri National Digital Health Mission (PM-NDHM).
  • The pilot project of National Digital Health Mission had been announced by the prime minister from the ramparts of the Red Fort on August 15, 2020.

INTERNATIONAL

• Anonymous Bitcoin founder commemorated in Budapest with bronze featureless statue
  • A statue of the unknown founder of Bitcoin was unveiled in Budapest, Hungary to honor blockchain and cryptocurrency.
  • The faceless statue is the first honoring the bitcoin creator and was funded entirely from cryptocurrency donations. The real name of Bitcoin's founder is still unknown.

• Former UK PM Gordon Brown now WHO ambassador for global health financing
  • The World Health Organization (WHO), announced the appointment of Gordon Brown, former Prime Minister of the United Kingdom, as its ambassador for Global Health Financing.

• Fumio Kishida will be Japan's new prime minister
  • Fumiko Kishida will become the next prime minister of Japan after winning a runoff in the ruling Liberal Democratic Party (LDP) leadership vote. He will be replacing Yoshihide Suga.

STATES

• Assam’s rice wine Judima gets GI tag
  • Judima, the wine brewed by the Dimasa community in Assam, has been awarded the geographical indication (GI) tag.

• Sojat Mehndi from Rajasthan gets GI tag
  • Sojat Mehndi from Rajasthan has received the geographical indication (GI) tag from the government.

REPORTS AND INDEXES

• Cryptotech industry can add $184B of economic value in India says NASSCOM
  • The National Association of Software and Services Companies (NASSCOM) has come up with “Crypto Industry in India.” The crypto industry in India has the potential to add $184 billion of economic value, in the form of investments and cost savings, by 2030.

SCIENCE AND TECHNOLOGY

• International Astronomical Union named crater on Moon’s South pole after an Arctic Explorer
  • The International Astronomical Union has named a crater at the Moon’s south pole after the Arctic explorer Matthew Henson, a Black man who in 1909 was one of the first people to stand at the very top of the world.

• Apple Co-Founder Steve Wozniak Announces Space Startup Privateer
  • Apple co-founder Steve Wozniak announced that he is setting up a private space company. The new company will be called Privateer Space and its mission would be to keep space safe and accessible to all humankind.

AGRICULTURE AND RURAL DEVELOPMENT

• KVIC Set up Odisha’s First Silk Yarn Production Centre to Boost Local Silk Industry & Create Employment
  • Khadi and Village Industries Commission (KVIC) has taken a historic initiative to set up Odisha’s first ever Tussar Silk Yarn Production Centre at Choudwar in Cuttack district.

• Naga Cucumber from Nagaland gets geographical identification tag
  • Nagaland’s “sweet cucumber” was awarded a geographical identification (GI) tag as an agricultural product under provisions of The Geographical Indications of Goods (Registration and Protection) Act, 1999.

DEFENCE

• Indian Army to organise “Bijoya Sanskritik Mahotsav” at Kolkata
  • 16 December 2021 will mark 50 years of the liberation of Bangladesh and India's victory over Pakistan in the 1971 Indo-Pak War. To commemorate this landmark event in India's history, Swarnim Vijay Varsh celebrations are being organised throughout the Country.

• Akash Prime successfully test-fired
  • A new version of the Akash missile was successfully flight-tested from the integrated test range at Chandipur in Odisha. The missile —'Akash Prime' — intercepted and destroyed an unmanned aerial target mimicking an enemy aircraft in its maiden flight test.

EVENTS

• Inauguration of the ‘Vanijya Utsav’ in Kolkata
  • To celebrate and commemorate 75 years of progressive India and its glorious history, the Ministry of Commerce & Industry organised special events and programmes ‘Vanijya Saptah’ throughout the week of 20-26 September as part of the ‘Azadi Ka Amrit Mahotsav’ celebrations.

AWARDS AND REWARDS

• Hunarbaaz Award to 75 Divyangjan candidates from 15 states
  • On the occasion of Amrit Mahotsav of Azadi and Antyodaya Diwas on Pandit Deen Dayal Upadhyaya Jayanti, 75 Divyangjan candidates from 15 states have been awarded Hunarbaaz Awards.

• Shanti Swarup Bhatnagar Prize for science and technology 2021
  • The names of 11 scientists, who received the country’s highest science award Shanti Swarup Bhatnagar Prize for science and technology 2021, were announced during the 80th foundation day of the Council for Scientific and Industrial Research (CSIR).

• Changemaker Award 2021
  • Fairooz Faizah Beether of Bangladesh has been chosen for the 2021 Changemaker Award for her work promoting good health and well-being by the Bill and Melinda Gates Foundation.

SPORTS

• Pankaj Advani wins his 24th world title in Doha
  • Star Indian cueist Pankaj Advani grabbed his 24th world title when he triumphed at the IBSF 6-Red Snooker World Cup with a victory over Pakistan’s Babar Masih in the final.

• Odisha to host FIH Hockey Men’s Junior World Cup 2021
  • Odisha’s Kalinga Stadium named as the venue for the forthcoming Hockey Men’s Junior World Cup to be held from November 24 to December 5, 2021.

• Russian Grand Prix 2021
  • Lewis Hamilton won the Russian Grand Prix 2021 for Mercedes at Sochi. It was the 100th F1 victory of his career.
  • M. Verstappen of Red Bull was second while Carlos Sainz Jr. of Ferrari was third.