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Current Affairs 11 & 12 July 2021

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We are here for you to provide the important Recent and Latest Current Affairs 11 & 12 July 2021, which have unique updates of Latest Current Affairs 2021 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Industrial Land Bank System to get Pan-India integration by Dec 2021Pan-India integration of industrial land bank system by Dec 2021The Ministry of Commerce and Industry indicated that the India Industrial Land Bank (IILB) will achieve pan-India integration by December 2021.

  • IILB is a GIS (geographic information system) based portal that acts as an repository for industrial infrastructure-related information, including connectivity, infrastructure, natural resources and terrain, plot-level information on vacant plots, line of activity, and contact details.

Key Points:
i.Currently, the portal has approximately 4,000 industrial parks mapped across an area of 5.5 lakh hectares of land covering 17 states. Its GIS integration helps in updating details on a real time basis.
ii.The portal also serves as a decision support system for investors hunting for land remotely.
The portal receives the maximum number of visitors from India followed by the United States (US), Australia, United Kingdom (UK) , Singapore, UAE (United Arab Emirates), Germany, and Indonesia.
About Ministry of Commerce and Industry:
Union Minister– Piyush Vedprakash Goyal (Rajya Sabha, Maharashtra)
Minister of State (MoS)– Anupriya Singh Patel (Constituency-Mirzapur,Uttar Pradesh), Shri Som Parkash (Constituency-Hoshiarpur, Punjab)

India, Nepal sign LoE to revise 2004 India-Nepal Rail Services Agreement India, Nepal inks pact to increase efficiency, cost-competitivenessIndia & Nepal signed a Letter of Exchange (LoE) to revise the 2004 India-Nepal Rail Services Agreement (RSA). The revised agreement will facilitate the import and export of goods through the Indian railway freight services and will come into force from 9th July, 2021.

  • The revised agreement aims to increase the efficiency, and cost-competitiveness of the rail freight sector.
  • It is seen as a step by India to enhance regional connectivity under the ‘Neighbourhood First’

Revised RSA Agreement
i.The revised pact permits all types of cargo train operators (public, private, special freight, automobile) authorized by the Indian Railways (IR) to use the Indian Railway Network for carrying Nepal’s container and freight –  both bilateral between India & Nepal or Third country from Indian ports to Nepal.
ii.The Revised pact will benefit the Nepalese traders, transporters and consumers as it will reduce transportation costs for automobiles and certain other products whose carriage takes place in special wagons.
Background of RSA – 2004 & LoE
RSA was executed on 21.05.2004 between the Ministry of Railways, Government of India and Ministry of Industry, Commerce & Supplies (now Ministry of Commerce), Nepal for introduction of freight train services between the two countries to/from Birgun (Nepal) via Raxaul (India).

  • It acts as a guide for the rail movement between India & Nepal.

About Indian Railways
Chairman & CEO of Railway Board – Suneet Sharma
Headquarters – New Delhi
>>Read Full News

Nitin Gadkari virtually addressed the 16th Annual Conference on “Road Development in India”Nitin Gadkari addressed 16th annual conference 'Road Development in India'In July 2021, Union Minister of Road Transport & Highways, Nitin Gadkari virtually participated in the 16th Annual Conference on “Road Development in India”. The conference was organised by India Infrastructure Publishing, a leading provider of information on the infrastructure sectors.
Objective – To discuss emerging trends in roadways & with special focus on import substitution, cost-effective, pollution-free alternative fuel.
Overview of the Conference:
i.India surpassed its targets and constructed over 13,000 km of national highways in 2020-21, averaging 37 km per day
ii.Indian Government will invest 1.4 trillion dollars (Rs 111 lakh crores) in infrastructure development through the National Infrastructure Pipeline (NIP)
iii.Total Capital investment on Road Sector has an allocation of Rs 20 trillion under the NIP for 2020-25, with major focus on Bharatmala Programme
iv.National Highways Authority of India (NHAI) plans to construct 22 new expressways and economic corridors across by 2025, with an investment of around Rs 3 trillion
v.India Targets to construct 60,000 km National highways at the rate of 40 km per day
About Ministry of Road Transport & Highways:
Union Minister – Nitin Gadkari (Constituency – Nagpur, Maharashtra)
Minister of State – VK Singh (Constituency – Ghaziabad, Uttar Pradesh)

Indian Army names firing range in Gulmarg as ‘Vidya Balan Firing Range’

Indian Army named a military firing range in Gulmarg, Jammu and Kashmir as “Vidya Balan Firing Range”. This comes as a move to honour the veteran Bollywood actress Vidya Balan, for her varied accomplishments in the field of Cinema & as a woman. Notably, she was the only actor to join the Academy of Motion Pictures Arts and Sciences, the governing body behind the Oscars.

INTERNATIONAL AFFAIRS

Human-wildlife conflict among Greatest Threats to Animal Species: WWF & UNEP reportHuman-wildlife conflict among greatest threats to animal species (2)On July 8, 2021, the World Wide Fund for Nature (WWF) and the United Nations Environment Programme (UNEP) released a report titled ‘A future for all – the need for human-wildlife coexistence’ which states that world’s most iconic species are in threat due to conflict between humans and animals as one of the key reason.

  • The analysis of the report is based upon the contributions from 155 experts from 40 organisations based in 27 countries.

Key Points from Report:
i.On the global front, conflict-related killing affects more than 75% of the world’s wild cat species along with other terrestrial and marine carnivore species such as polar bears and Mediterranean monk seals as well as elephants.
ii.On Indian front, as per the data from the Union Ministry of Environment, Forest and Climate Change (MoEFCC)  indicates that over 500 elephants were killed between 2014-2015 and 2018-2019, mostly due to human-elephant conflict. During the same period, 2,361 people were killed as a result of conflict with elephants.
iii.Global wildlife populations have fallen an average of 68% since 1970.
Recommendations:
i.It recommends the initiation of new linear infrastructure projects for connectivity and the requirements of wildlife to decrease these conflicts.
ii.Human-Wildlife conflict should be included in SDG (Sustainable Development Goals) implementation plans and also in the Convention on Biodiversity’s new framework.
iii.There is an Advisory for management of Human-Wildlife Conflict (HWC) approved by Standing Committee of National Board of Wildlife (SC-NBWL) which says:

  • Empower gram panchayats in dealing with the problematic wild animals as per the WildLife (Protection) Act, 1972.
  • Utilise add-on coverage under the Pradhan Mantri Fasal Bima Yojna (PM-FBY) for crop compensation against crop damage due to HWC.

Points to be noted:
i.India will be most-affected by human-wildlife conflict because it has the world’s second-largest human population as well as large populations of tigers, Asian elephants, one-horned rhinos, Asiatic lions and other species.
ii.WWF India during 2003-2004 developed the Sonitpur Model by which community members were connected with the state Forest Department and given training on how to work with them to drive elephants away from crop fields safely and human habitations.
Click Here for Full Report

INS Tabar participated in Maritime Partnership Exercise with Italian Navy on Tyrrhenian SeaINS Tabar conducts military exercise with Italian Navy in the Tyrrhenian SeaIndian Naval Ship (INS) Tabar participated in a Maritime Partnership Exercise with ITS Antonio Marceglia, a frontline frigate of the Italian Navy, on 4- 5 July in the Tyrrhenian Sea.
i.They conducted a wide range of naval operations including – Air defence procedures, replenishment at sea, communication drills and cross deck helo operations by day and night.
ii.INS Tabar is currently deployed in the Mediterranean Sea, visited Italy’s Port of Naples on 3 July
iii.INS Tabar is a Talwar class vessel, which has the capability to be equipped with supersonic BrahMos anti-ship cruise missiles and Barak 1 missiles
iv.Notably, Chief of Army Staff Gen. Manoj Mukund Naravane visited Italy on 7th July and inaugurated an “Indian Army Memorial” at Cassino, Italy
About Indian Navy:
Chief of the Naval Staff – Admiral Karambir Singh
Founded – 26 January 1950
INS Arihant – India’s 1st Indigenously built Nuclear Submarine, jointly developed by Indian Navy, Bhabha Atomic Research Centre (BARC) and Defence Research & Development Organisation (DRDO)

1st meeting of India-UK Financial Markets Dialogue held virtuallyUK, India hold first financial markets dialogue virtuallyi.On July 8, 2021, the 1st meeting of the United Kingdom (UK)-India Financial Markets Dialogue (FMD) was held virtually to deepen bilateral ties in the financial sector. It was led by senior officials from the Indian Ministry of Finance and Her Majesty’s Treasury from the UK.
ii.FMD was held on the lines of the 10th Economic and Financial Dialogue (EFD) which was held virtually in October 2020 where UK Chancellor Rishi Sunak and India’s Finance Minister Nirmala Sitharaman agreed for the creation of FMD.
iii.Both sides agreed to strengthen financial services cooperation between India and the UK.
About the United Kingdom (UK):
Capital– London
Currency– Pound sterling
River Severn is the longest river in the UK, whereas the 2nd longest river, River Thames flows through the capital city of London.
>>Read Full News

BRICS agreed to STI-led BRICS Innovation Cooperation Action Plan (2021-24) proposed by IndiaOn July 8, 2021, the 12th meeting of the BRICS (Brazil, Russia, India, China, and South Africa) S&T (Science & Technology) Steering Committee was hosted by Department of Science and Technology (DST), India where Indian was represented by Sanjeev Kumar Varshney, Advisor & Head International Cooperation.

  • It was attended by scientific ministries and agencies of all BRICS countries.
  • During the meeting BRICS member countries have agreed to a Science, Technology and Innovation (STI)-led BRICS Innovation Cooperation Action Plan (2021-24) proposed by India.

Key Points:
i.The Details of the Action Plan would be worked out by BRICS STI Entrepreneurship partnership (STIEP) Working Group.
ii.The BRICS officials agreed for collaboration in ten thematic areas (mentioned below*).
iii.All BRICS countries also agreed to 3 thematic areas proposed by India for 6th edition of BRICS Young Scientist Conclave, which will be held in Bangalore on September 13-16, 2021.

  • These are Healthcare; Energy Solutions, Cyber-Physical System (CPS), and their applications.

*Thematic areas:
Transient Astronomical Events and Deep Survey Science, Antimicrobial Resistance (AMR): Technologies for Diagnosis and Treatment, Simulation and Big Data Analytics for Advanced Precision Medicine and Public Healthcare, HPC and Big Data for Sustainable Development: Solving Large Scale Ecological, Climate and Pollution Problems,  Innovation and Entrepreneurship on Photonic, Nanophotonics, and Metamaterials for Addressing Bio-medicine, Agriculture, Food Industry and Energy Harvesting Issues, Materials Science and Nanotechnology for Addressing Environmental, Climate Change, Agricultural, Food, and Energy Issues, Renewable Energy including Smart Grid Integration, Ocean and Polar Science and Technology Water Treatment Technology Research in Aeronautics and Aerospace.

ADB Formed High-Level Advisory Group for COVID-19 VaccinesThe Asian Development Bank (ADB) has partnered with the public health experts, vaccine regulators, and policymakers to form a high-level advisory group – Regional Vaccine Advisory Group – to support its developing member countries (DMCs) with technical and scientific advice on the quality, safety and effectiveness of the COVID-19 vaccines.  

  • The inaugural meeting of the advisory group held on 1st July 2021 focused on the ways to increase the supply of the covid-19 vaccines across Asia and the Pacific region.

Objective:
To support the ADB and DMCs and provide a better understanding of regulatory oversight, risk management strategies and pharmacovigilance required to safely introduce and monitor the COVID-19 vaccine rollouts.
Role of the Advisory group:
i.The advisory group will assist to safely introduce COVID-19 vaccines across Asia and the Pacific and will help to reduce poverty by allowing the people to resume their life and develop their economy.
ii.The advisory group will provide recommendations to support ADB to find ways to connect the global and local supply chains and solve the vaccine supply issues faced in Asia and Pacific region.
iii.This group will also enhance the ADB’s work on expanding access to COVID-19 vaccines, including the Asia Pacific Vaccine Access Facility (APVAX), which provides financial support of 9 billion USD to the DMCs to procure and deliver safe and effective vaccines.
Members:
i.The members of the advisory group include the experts from vaccine regulators across Asia and the Pacific and North America.
ii.The members include, Dang Duc Anh(Viet Nam), Heather Deehan(Canada), Dr Paisarn Dunkum(Thailand), Dr. Rolando Enrique(Philippines), Dr Yasuhiro Fujiwara(Japan), Chenyan Gao(China), Dr. Choong May Ling(Singapore), Dr. Penny Lukito(Indonesia), Dr. In-Sook Park (Republic of Korea), and Dr Renu Swarup (India) along with ADB Health Sector Group Chief Dr Patrick Osewe and World Health Organization Health Systems and Services Director for the Western Pacific Dr Martin Taylor.
Note:
Dr. Renu Swarup is the Secretary heading the Department of Biotechnology Secretary under the Ministry of Science & Technology, Government of India.
Efforts of ADB to support DMCs:
The ADB has developed a 500-million-dollar vaccine import facility to work with the private sector to provide support for the vaccine storage logistics and distribution and provide 77 million dollars in technical assistance to support DMCs to procure medical supplies and to roll out vaccine programmes.
About Asian Development Bank (ADB):
The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966.
President– Masatsugu Asakawa
Headquarters– Metro Manila, Philippines

“Death toll caused by Famine outpaces that of COVID-19” – Oxfam reportEach minute 11 people die of hunger and there is a 6-fold increase (compared to last year) in the number of people threatened over famine-like conditions, as per the report titled “The Hunger Virus Multiplies” released by global anti-poverty organisation ‘Oxfam’. The report also states that the global death toll of 11/minute from famine outpaces that of COVID-19 (7 deaths/minute).
Findings of the Report:
i.With an addition of 20 million people, the total count of people at the crisis level of food insecurity has increased to 155 million, with major case of poverty being armed conflict
ii.War torn countries like – Afghanistan, Ethiopia, South Sudan, Syria, Yemen are the ‘Worst hunger hot spots’
iii.Global warming & economic recession caused a 40% increase in global food prices, moving millions of people into poverty.
About Oxfam:
Oxfam was founded in 1942, as a confederation of 20 independent charitable organizations focusing on the alleviating Global Poverty
Executive Director – Gabriela Bucher
Headquarters – Nairobi, Kenya

IATA Launches 1st of kind Action Group to Improve Handling of Mobility AidsThe International Air Transport Association (IATA) launched the 1st of kind Global Mobility Aids Action Group to tackle the issues around safe and secure transport of mobility aids (such as crutches, walkers, wheelchairs), with an objective of handling the vital equipment for travelers with disabilities.
i.The Action Group will provide advice and recommendations to airlines & other stakeholders on policies, process and standards for better handling & transportation of mobility aids.
ii.It will consist of a full range of stakeholders impacted by the issue – accessibility organizations (representing travelers with disabilities), airlines, ground service providers, airports and mobility aids manufacturers.

  • It will be the 1st time a mobility aids manufacturer will be invited to participate in an IATA task force.

iii.Each year, thousands of wheelchairs are transported safely by air, but still damage or loss persists. These damages severely affect the passengers as these devices are extensions of their body and are essential to their independence.
iv.According to the World Health Organization (WHO), there are more than a billion people living with disabilities. With the aging population in countries around the world, travelers with disabilities will be a growing customer segment for airlines.
About International Air Transport Association (IATA)
Director General – Willie Walsh
Head Office – Montreal, Canada

BANKING & FINANCE

RBI Issued 10-year G-Sec at Higher Cut-off Yield of 6.10 percentRBI accepts cut-off yield on new 10-year bondOn July 09, 2021, the Reserve Bank of India (RBI), issued the new 10-year Government Security (G-Sec) (that would mature in 2031), at a cut-off yield of 6.10 percent per annum, higher than the earlier cut-off yield of 5.85 percent.
G-sec Auctions:

  • RBI sold 3 auctions such as New 10-year G-Sec 2031 at 6.10 percent (for Rs 14,000 crore), 2023 G-Sec at 4.3 percent (Rs 3,000 crore), and 2061 G-Sec at 7.18 percent (for Rs 9,000 crore).
  • Through the 3 auctions, an aggregate of Rs 26,000 crore was raised by the government.

About Primary and Secondary market:
i.Primary Market: It is a financial market in which the new stocks and bonds are sold to the public for the 1st time through different types of issues like IPO (Initial Public Offer).

  • Under the primary market, the investors could purchase securities directly from the issuer.

ii.Secondary Market: It is the market in which it contains the previously issued financial instruments such as stocks, Equity shares, bonds, preference shares, treasury bills, debentures, etc. from the primary market.

  • The financial instruments in the secondary market would be traded by market participants.

>>Read Full News

Finance Ministry Scrapped LIC’s Chairman Post; To Have MD & CEOOn July 09, 2021, the Department of Financial Services (DFS), Ministry of Finance, removed the position of chairman from the IPO (Initial Public Offer) bound – Life Insurance Corporation of India (LIC) and it will have Managing Director (MD) and Chief Executive Officer (CEO), by making amendments over the LIC Act 1956.It will create CEO post after this(Currently there is no CEO in LIC).

  • The MD and CEOs will be appointed by the Central Government under section 4 of the LIC Act 1956.
  • Currently, LIC has MR Kumar as its chairman and 4 MDs viz, Vipin Anand, Mukesh Kumar Gupta, Raj Kumar, and Siddhartha Mohanty.

Other Amendments:
ii.The LIC (Special Allowance for In-House Development of Actuarial Capability) Rules, 2002 to appoint a full-time actuary for LIC was also amended.

  • Condition: The designated actuary will have to be a member of the Institute of Actuaries of India or Institute of Actuaries, London, and should be nominated by the CEO or a committee authorised by him.

iii.Rules under pension schemes were also amended to empower the board to take decisions pertaining to it.
IPO of LIC:
i.At the Budget 2021, Finance Minister Nirmala Sitharaman announced the IPO of LIC, to be floated in 2021-22 as a part of the Rs 1.75 lakh crore disinvestment target.
ii.Earlier, the govt has amended the LIC Act, 1956 along with the Finance Act 2021 and increased the authorised share capital of LIC from Rs 100 crore to Rs 25,000 crore to facilitate the listing.
iii.The govt plans to launch the listing of LIC through IPO in Q4 FY22, it has made more than 24 changes in the LIC Act to comply with the listing norms and distribute shares.
Note – In early July 2021, the govt extended the retirement age of LIC Chairman from 60 to 62 Years.
About Life Insurance Corporation(LIC):
Establishment -1956
Headquarters – Mumbai, Maharashtra

Axis Bank Announced its 1st Transaction in SOFR Linked DerivativeOn July 09, 2021, Axis Bank announced its 1st derivative transaction linked to ‘Secured Overnight Financing Rate’ (SOFR), by replacing the London Inter-Bank Offered Rate (LIBOR).
Key points:
i.SOFR is one of the popular US dollar interest rate benchmarks and it is expected to replace LIBOR as an Alternate Reference Rate (ARRs) at the end of December 2021.
ii.RBI’s Direction: On July 09, 2021, RBI issued an advisory to banks and other RBI-regulated entities to prepare for the transition from the international benchmark reference rate, LIBOR to any other widely accepted ARR, as LIBOR would exit by the end of 2021. Click here to know more
iii.Earlier in March 2021, the State Bank of India (SBI) and Indian Oil Corporation Limited (IOCL) inked India’s first SOFR linked External Commercial Borrowing (ECB) deal by replacing LIBOR.
iv.Global Interest Rate Benchmark: It is a rate used to determine the amount of interest payable or receivable among world banks for a wide range of financial products such as derivatives, bonds, loans, structured products and mortgages.

  • Eg. LIBOR, SOFR, Sterling Overnight Interbank Average Rate (SONIA), etc.

About Axis Bank:
Establishment –1993 (Commenced operation –1994)
MD & CEO – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Tagline – Badhtika Naam Zindagi

India’s Might Face 3rd Covid-19 Wave from August 2021: SBI report

The report by the State Bank of India (SBI) named ‘Covid-19: the race to finishing line’, projected India to face the 3rd wave of the COVID-19 from August 2021, meanwhile, it is expected to reach its peak in September 2021.

  • It also expected India to experience daily Covid-19 cases of around 10,000 from the second week of July 2021. The projections are based on ‘historical trends’.

ECONOMY & BUSINESS

US Became the 4th Largest Crude Oil Supplier to India in 2020United States became fourth-largest crude oil supplier to India in 2020As per the 70th edition of BP’s report named ‘Statistical Review of World Energy 2021’, the United States (US) became the 4th largest supplier of crude oil and natural gas to India in 2020.

  • Even though the US has started exporting oil to India in 2017, its supply accounted for about 5 percent of India’s total imports of 204 million tonnes in 2020.

Top 4 Crude Oil Supplier to India in 2020:

S.No. Country Oil Supplied (million tonnes)
1. Iraq 47
2. Saudi Arabia 38
3. United Arab Emirates (UAE) 22
4. US 10.7

About BP:
It is a British multinational oil and gas company.
Headquarters London, United Kingdom
CEO – Bernard Looney
>>Read Full News

Amazon India Launches its 1st ‘Digital Kendra’ in Surat, Gujarat

Amazon India launched its 1st ‘Digital Kendra’ in Krushi Bazar (APMC Market), Surat, Gujarat as part of its commitment to digitize 10 million Indian micro, small and medium enterprises by 2025.

  • They are physical resource centres that will provide Micro, Small & Medium Enterprises (MSMEs) information about the benefits of e-commerce.
  • It will help in availing third-party services like shipping and logistics support, cataloguing assistance, digital marketing services, GST and taxation support to start their digital journey.
  • In January 2020, Amazon had announced a USD 1 billion (over INR 7,000 crore) investment in India to help bring small and medium businesses online and committed to export USD 10 billion worth of India-made goods by 2025.
  • As part of the effort, Amazon will establish 100 digital centres throughout India.

APPOINTMENTS & RESIGNATIONS          

Pawan Singh Becomes 1st Ever Indian juror at Tokyo OlympicsPawan Singh selected as first ever Indian jurorPawan Singh, Joint Secretary-General of the National Rifle Association of India (NRAI), has become the 1st ever Indian juror to be selected to officiate an Olympics Games. The International Shooting Sports Federation (ISSF) has selected Pawan Singh as a juror to officiate at the upcoming Tokyo Olympic Games in shooting sports. 

  • He has been selected as one of the 4 RTS (Result, Timing, Score) Jury members.
  • Other than jury members from Japan (Host country), he is the only jury member in Rifle/pistol discipline from Asian countries.

Worldwide Partner of Olympic Games:
Thums Up, owned by Coca-Cola became the 1st Indian origin beverage brand to become the worldwide partner of the Olympic Games.
Jury members of Tokyo Olympics:
The Tokyo Olympics will be officiated by a total of 26 jury members.
6 out of the 26 members will be from Japan and the rest will be from other countries.
About Pawan Singh:
i.Pawan Singh is a former rifle shooter and shooting coach for the Indian team.
ii.Pawan Singh has been the competition manager of the ISSF World Cup held in New Delhi in 2017.
iii.He is also a member of the ISSF’s RTS juries and has officiated various World Cup events.
iv.He was also the first Indian official to conduct the ISSF B License Judges course in China.
v.He is the founder and director of the Gun for Glory Shooting Academy in Balewadi, Pune, Maharashtra.

RBI Approved 3-year Extension to Federal Bank’s MD & CEO – Shyam Srinivasan RBI okays reappointment of Shyam SrinivasanOn July 09, 2021, the Reserve bank of India (RBI) approved the re-appointment of Shyam Srinivasan as the Managing Director (MD) and Chief Executive Officer (CEO) of Federal Bank for 3 years i.e. from September 23, 2021, to September 22, 2024.
Background:
i.This extension was held as a backdrop of the RBI’s recent circular over the tenure of the MD & CEO’s of private sector banks.
ii.In April 2021, RBI fixed 15 years as the tenure for the MD & CEOs/Whole-Time Directors(WTDs) to hold their post in a bank. Click here to know more
About Shyam Srinivasan:
i.He joined the Federal Bank as its MD & CEO in September 2010, in July 2020, his tenure was increased to 1 year i.e. till September 2021 by RBI (as per the board of bank’s request).
ii.After the current extension Shyam Srinivasan has become the longest-serving MD & CEO of the bank after the bank’s founder, K P Hormis.
Note – Earlier in 2021, a term extension for 3 years was given by RBI to Chandra Shekhar Ghosh as the MD &CEO of Bandhan bank, and it also had approved a 1-year extension to Vishwavir Ahuja as the MD &CEO of RBL Bank Ltd.
About Federal Bank Limited:
Establishment – April 23, 1931 (as Travancore Federal Bank Limited), December 2, 1949 (Renamed as Federal Bank Ltd)
Headquarters – Aluva, Kerala
Tagline – Your Perfect Banking Partner

Haiti’s Senate Named Joseph Lambert as Interim President of Haiti

Haiti’s Senate, the upper house of the Haitian Parliament, adopted a resolution declaring Joseph Lambert, President of the Haitian Senate as the interim President of Haiti following the assassination of President Jovenel Moise.

  • Joseph Lambert will take over as head of state until 7th February 2022, when the term of Jovenel Moise ends.
  • He will take the constitutional oath in Parliament and take charge of the functions to form a new government.

SCIENCE & TECHNOLOGY

FAA develops New Tool to Limit Disruptions caused by Space OperationsNew tool limits disruptions caused by space operations, says FAAUSA’s Federal Aviation Administration (FAA) has developed a new tool called ‘Space Data Integrator (SDI)’ which will help in better tracking of rocket launches and space vehicles returning to Earth, it will help in shortening the time that airspaces are closed.

  • During space operations, airspaces around the area of space operation are closed due to safety reasons. Due to this, Airlines reroute flights causing them to burn more fuel and fall behind schedule. A single launch can affect hundreds of flights.
  • The new tool addresses this problem by automating the near-instant delivery of data about a space vehicle’s flight path (Telemetry data) to the USA’s Air Traffic Control System. At present, the sharing of data between the entities and air traffic control managers was done manually.
  • The instant delivery of data will help in reopening the airspace more quickly and reduce the number of aircraft and other airspace users affected by a launch or reentry.

1st Trial
The Tool was first used on June 30, 2021 for the launch of SpaceX’s Transporter 2. SpaceX became the 1st company to share flight telemetry data with the FAA.
About Federal Aviation Administration (FAA) 
Administrator – Steve Dickson
Headquarters – Washington D.C., USA
>>Read Full News

Indian Researchers spot rare SuperLuminous SupernovaIndian researchers spot rare superluminous supernova shiningA Team of Indian Researchers spotted the very rare SuperLuminous Supernova (SLSNe) using the special arrangements at India’s Devasthal Optical Telescope (DOT-3.6 m), Nainital, Uttarakhand along with 2 other Indian telescopes – Sampurnanand Telescope (1.04 m), Nainital & Himalayan Chandra Telescope (2.0 m) in Ladakh.

  • The study was led by Amit Kumar, a Ph.D. student working under Dr. S.B. Pandey. It has been published in the monthly notices of the UK-based Royal Astronomical Society.
  • The study established the role of DOT 3.6 in exploring very rare and distant SLSNe in the future.

What is SLSNe?
SLSNe are extremely bright, hydrogen deficient, fast-evolving supernovae which shine with energy borrowed from an exotic type of neutron star with an ultra-powerful magnetic field. They are the least understood SuperNovae (SNe) as their underlying sources are unclear.

  • Deep study of such ancient spatial objects can help in investigating the mysteries of the early universe.
  • They originate from very massive stars (minimum mass limit is more than 25 times that of the sun) and their distribution in the galaxy is sparse.
  • Among them, SLSNe-I has been counted to about 150 entities spectroscopically confirmed so far.
  • The ‘SN 2020ank’ first discovered by the Zwicky Transient Facility on January 19, 2020, was studied by scientists from Aryabhatta Research Institute of Observational Sciences (ARIES) in Nainital, a research institute under the Department of Science and Technology (DST).

About Aryabhatta Research Institute of Observational Sciences (ARIES) 
Director – Prof. Dipankar Banerjee
Location – Manora Peak, Nainital, Uttarakhand

ENVIRONMENT

Scientists from DBT-ILS & SRM-DBT decode Genome Sequence of Mangrove Species for the 1st timeGenome of salt-secreting mangrove speciesScientists at the Department of Biotechnology-Institute of Life Sciences (DBT-ILS), Bhubaneswar, Odisha and SRM-DBT Partnership Platform for Advanced Life Sciences Technologies at SRM Institute of Science & Technology, Tamil Nadu for the 1st time reported a reference-grade whole genome sequence of ‘Avicennia marina’, a highly salt-tolerant and salt-secreting true-mangrove species. The study has been published in the journal – Nature Communications Biology.

  • The decoding will help researchers to study the potential of the identified genes for developing drought and salinity tolerant varieties of important crop species of the coastal region.  It will immensely benefit India as it has a 7,500 km long coastline and 2 major island systems.

‘Avicennia Marina’

  • It is a prominent mangrove species which is found in all mangrove formations in India. It can grow in 75% seawater and tolerates >250% seawater conditions.
  • It is a rare plant species which can excrete 40% of the salt through the salt glands in the leaves, besides its capacity to exclude salt entry to the roots.

Significance
Agricultural productivity across the world is falling due to factors like limited water availability and salinization of soil and water.
i.Dry Land areas which constitute ~40% of the world’s total area are facing water availability issues. Salinity is prevalent in ~ 900 million hectares globally (with an estimated 6.73 million hectares in India) and causes an annual loss of up to USD 27 billion.
About Department of Biotechnology-Institute of Life Sciences (DBT-ILS)
ILS is an Autonomous Institute of DBT
Director – Dr. Ajay Parida
Headquarters – Bhubaneswar, Odisha
About SRM Institute of Science & Technology
Chancellor – T. R. Paarivendhar
Location – Chennai, India

BOOKS & AUTHORS

PM Modi Received the 1st Copy of the Book “The Ramayana of Shri Guru Gobind Singh Ji” by Late Baljit Kaur Tulsi ‘The Ramayana of Shri Guru Gobind Singh Ji’Prime Minister Narendra Modi received the first copy of the book “The Ramayana of Shri Guru Gobind Singh Ji” from KTS Tulsi, Member of Parliament(MP) (Rajya Sabha – Chhattisgarh).The book was authored by Late Mrs.Baljit Kaur Tulsi, mother of KTS Tulsi.

  • The book was published by Indira Gandhi National Centre for the Arts(IGNCA).
  • PM Modi also shared the audio of the recital of Gurbani Shabad by KTS Tulsi.

About Guru Gobind Singh:
i.Guru Gobind Singh the 10th and last of Sikh Gurus in Human form was born as Gobind Rai at Patna Sahib, Bihar.
ii.At the age of 9, he was enthroned at the ‘Guru Gaddi’ following the martyrdom of his father Guru Tegh Bahadur, the 9th Sikh Guru.

Bollywood Actress Kareena Kapoor launched her debut book “Kareena Kapoor Khan’s Pregnancy Bible” Kareena Kapoor Khan shares the first glimpse of her debut bookBollywood Actress Kareena Kapoor Khan has launched her debut book titled “Kareena Kapoor Khan’s Pregnancy Bible: The ultimate manual for moms-to-be” which features her experiences and learnings during her pregnancies.
The book is published by Juggernaut Books and it is co-authored by Aditi Shah Bhimjyani.
About the book:
i.The book is approved by the Federation of Obstetric and Gynaecological Societies of India​(FOGSI), India’s official body of gynecologists and obstetricians.
ii.The book explains the various needs during the pregnancy with the help of experts like Rujuta Diwekar – India’s leading nutrition and exercise science expert, Dr Prabha Chandra of National Institute of Mental Health and Neurosciences(NIMHANS).
About Kareena Kapoor Khan:
i.Kareena Kapoor Khan has starred in more than 60 Hindi Films.
ii.She is one of the highest paid female brand ambassadors in India.
iii.She has endorsed various brands like Puma, Sony, Head & Shoulders and others.
iv.She was the first Indian actress to launch her own clothing line in association with retail brand Globus.
Other book:
She has co-authored 3 books, The Style Diary of a Bollywood Diva, Women & the Weight Loss Tamasha and Fashion Guide (Marathi).

STATE NEWS

West Bengal Government presents INR 3.08 Lakh Crore Budget for FY 2021-22Bengal Budget FY22 Govt grants road tax waiverWest Bengal’s Minister for Industry, Commerce and Enterprise Partha Chatterjee presented a INR 3.08 Lakh Crore budget for the FY 2021-22. Partha Chatterjee presented the budget as Finance Minister Amit Mitra is unwell.

  • The budget announced 26 schemes & projects. It also announced the waiver of road tax on passenger transport vehicles and provided a refund on stamp duty.
  • The budget also extends the one-time exemption of motor vehicle tax for the period starting July 1, 2021 to December 31, 2021. It has proposed to reduce stamp duty by 2% for registration of deeds, while the circle rate was slashed by 10%.

Fiscal Indicators

  • Revenue Expenditure – INR 2.13 Lakh Crore
  • Debt to GSDP ratio (Gross State Domestic Product (GSDP) – 35.54% (Central Govt’s Debt to GDP ratio is 58.8%).
  • West Bengal’s GDP – 1.2% (while India’s GDP was (-) 7.7%)
  • Gross State Domestic Product (GSDP) – INR 13, 54,518 crores.

About West Bengal
Chief Minister – Mamata Banerjee
Capital – Kolkata
Governor – Jagdeep Dhankhar
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Current Affairs Today (AffairsCloud Today)

S.no Current Affairs 11 & 12 July 2021
1 Industrial Land Bank System to get Pan-India integration by Dec 2021
2 India, Nepal sign LoE to revise 2004 India-Nepal Rail Services Agreement
3 Nitin Gadkari virtually addressed the 16th Annual Conference on “Road Development in India”
4 Indian Army names firing range in Gulmarg as ‘Vidya Balan Firing Range’
5 Human-wildlife conflict among Greatest Threats to Animal Species: WWF & UNEP report
6 INS Tabar participated in Maritime Partnership Exercise with Italian Navy on Tyrrhenian Sea
7 1st meeting of India-UK Financial Markets Dialogue held virtually
8 BRICS agreed to STI-led BRICS Innovation Cooperation Action Plan (2021-24) proposed by India
9 ADB Formed High-Level Advisory Group for COVID-19 Vaccines
10 “Death toll caused by Famine outpaces that of COVID-19” – Oxfam report
11 IATA Launches 1st of kind Action Group to Improve Handling of Mobility Aids
12 RBI Issued 10-year G-Sec at Higher Cut-off Yield of 6.10 percent
13 Finance Ministry Scrapped LIC’s Chairman Post; Replaced it with MD & CEO
14 Axis Bank Announced its 1st Transaction in SOFR Linked Derivative
15 India’s Might Face 3rd Covid-19 Wave from August 2021: SBI report
16 US Became the 4th Largest Crude Oil Supplier to India in 2020
17 Amazon India Launches its 1st ‘Digital Kendra’ in Surat, Gujarat
18 Pawan Singh Becomes 1st Ever Indian juror at Tokyo Olympics
19 RBI Approved 3-year Extension to Federal Bank’s MD & CEO – Shyam Srinivasan
20 Haiti’s Senate Named Joseph Lambert as Interim President of Haiti
21 FAA develops New Tool to Limit Disruptions caused by Space Operations
22 Indian Researchers spot rare SuperLuminous Supernova
23 Scientists from DBT-ILS & SRM-DBT decode Genome Sequence of Mangrove Species for the 1st time
24 PM Modi Received the 1st Copy of the Book “The Ramayana of Shri Guru Gobind Singh Ji” by Late Baljit Kaur Tulsi
25 Bollywood Actress Karrena Kapoor launched her debut book “Kareena Kapoor Khan’s Pregnancy Bible”
26 West Bengal Government presents INR 3.08 Lakh Crore Budget for FY 2021-22