Current Affairs 11 May 2021

We are here for you to provide the important Recent and Latest Current Affairs 11 May 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

India & Indonesian Navies  conduct ‘PASSEX’ in the Arabian SeaThe Indian and Indonesian Navies conducted Passage Exercise (PASSEX) in the Southern Arabian sea. The main aim of the exercise was to improve interoperability and understanding between the Navy units of two countries.
i.From the Indian Navy, INS Sharda, an Offshore Patrol Vessel (OPV) with a Chetak helicopter participated in the exercise.
ii.From the Indonesian Navy, KRI Sultan Hasanudin, a 90m Corvette took part in the exercise.
iii.An Passage Exercise is usually conducted by 2 navies,  to make sure that the navies are able to communicate and cooperate in times of war or humanitarian relief.
Fact

• ‘Garuda Shakti’ is a bilateral exercise between the Special forces of armies of India & Indonesia.

About Indonesia
President –  Joko Widodo
Capital – Jakarta
Currency – Indonesian Rupiah
About Indian Navy
Chief of Naval Staff (CNS)– Admiral Karambir Singh
Integrated Headquarters of Ministry of Defence (Navy) – New Delhi
>>Read Full News

INTERNATIONAL AFFAIRS

India virtually participates in the 3rd Arctic Science Ministerial 2021Union Minister for Earth Science Dr Harsh Vardhan virtually represented India in the 3rd Arctic Science Ministerial (ASM3) 2021 held in Tokyo, Japan from May 8-9, 2021, it was jointly organized by Iceland & Japan.  The ASM3 2021 is the 1st meeting to be held in Asia.

• The theme for 2021 is ‘Knowledge for a Sustainable Arctic’.
• ASM is a global platform for discussing research and cooperation in the Arctic region, it is an event initiated by the Arctic Council, a high-level intergovernmental forum.

India’s vision & long-term plans for the Arctic region
Dr Harsh Vardhan shared India’s vision and long-term plans for research, work, and cooperation in the Arctic region.

• India is set to launch ‘NISAR’ (NASA ISRO Synthetic Aperture Radar) in collaboration with the US for conducting global measurements of the cause and consequences of land surface changes using advanced radar imaging.
• India’s research activities in the Arctic region are coordinated & conducted by National Centre for Polar and Ocean Research (NCPOR), Goa, under the Ministry of Earth Sciences.
• It has a permanent research station in the Arctic called ‘Himadri’ in Spitsbergen, Svalbard, Norway.

Arctic Council
i.It addresses issues faced by Arctic governments and the indigenous people of the Arctic. It was established in 1996.

• Members: 8 – Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden, and the US.
• Observer States: 13 – India (since 2013), Japan, China, France, Germany, UK, Italy, Switzerland, Poland, Spain, Netherlands, Singapore, and South Korea.

About Arctic Council
Chair of the Arctic Council (2019-21) – Iceland
Headquarters – Tromso, Norway
>>Read Full News

PM Modi participates in the India-European Union Leaders Meeting 2021Indian Prime Minister (PM) Narendra Modi virtually participated in the India-European Union (EU) Leaders Meeting 2021 which was held in a hybrid format on 8th May 2021 in Porto, Portugal. It is the 1st time that the EU has hosted a meeting with India in the EU+27 format.
i.Host –   Prime Minister of Portugal, Mr Antonio Costa  (Portugal holds the Presidency of the Council of EU for the year 2021).
ii.India participated in the meeting virtually, while the Leaders of the 27 EU Member States met in person in Porto-Portugal.
iii.During the meeting, the two sides

• India-EU launched Connectivity Partnership
• Signed Finance Contract for funding (2nd Tranche) for Pune Metro Rail project – Euro 150 million (~ INR 1, 335 Crore).

Major Events
i.India & EU agreed to resume talks for a comprehensive Free Trade Agreement (FTA) after a gap of 8 years.
ii.Ahead of the India-EU Meeting, European Investment Bank (EIB) announced 3 new measures to support India’s COVID-19 recovery.

• EUR 100 million (~ INR 892 Crores) – For Sustainable Private Equity Initiative (under NEEV Fund II)
• EUR 300 million (~ INR 2, 677 Crores) – For Urban Metro Rail Projects of Kanpur (Uttar Pradesh) & Pune (Maharashtra)
• EUR 250, 000 (~ INR 2.23 Crore) – To help India cope with COVID-19

iii.EIB committed the 2nd tranche of 150 Million Euros (~ INR 1, 335 Crore) for the Pune Metro Rail Project.
About European Investment Bank (EIB)
President – Werner Hoyer
Headquarters – Kirchberg, Luxembourg
>>Read Full News

Portugal Opened ‘516 Arouca’ – Pedestrian Suspension Bridge Portugal opened the Pedestrian suspension bridge named ‘516 Arouca’ in Northern Portugal. The 516-meter long bridge is built in the Arouca Geopark, which is suspended at 175 metres above the Paiva River. 
The bridge was built by the Institute for Research and Technological Development for Construction, Energy, Environment and Sustainability as a tourist attraction for the Arouca region.

• At present this is the longest pedestrian suspension bridge in Europe which surpassed the 494-metre Charles Kuonen Bridge in Switzerland (completed in 2017).
• Note – Baglung Parbat Footbridge in Nepal with 567-metre is the world’s longest pedestrian suspension bridge.

About ‘516 Arouca’:
i.The walkway is made up of 127 interlocking metal cages.
ii.The structure of the concrete towers is an inverted A-shape marks the landing points of the bridge and supports two steel suspension cables (tensile cables) that support the steel walkway.
Additional info:
The 526.14-metre-long Glass-bottom bridge in China, which was completed in 2020, is the world longest glass-bottom bridge.

BANKING & FINANCE

HDFC BANK in Partnership With CSC Launched a ChatBot, ‘EVA’ for VLEsOn May 10, 2021, HDFC Bank and Common Services Centers (CSCs) announced the launch of a chatbot called ‘Eva’ on CSC’s Digital Seva Portal to support Village Level Entrepreneurs (VLEs).
Objective: To provide banking services to last-mile rural consumers.
Uses of Chatbot – Eva:
i.Under Eva, the VLEs could become a Business Correspondent (BC) by getting access to the training content and taking a quiz before getting the certification.
ii.VLEs could learn about HDFC Bank’s products and services, account opening, and loan in Eva.
iii.Around 1,27,348 VLEs were currently providing HDFC Bank’s products and services in semi-urban and rural India.
About HDFC Bank:
Establishment – 1994
Headquarters– Mumbai, Maharashtra
MD & CEO – Sashidhar Jagdishan
Tagline– We understand your world
>>Read Full News

Bajaj Finance got RBI’s nod for PPIsBajaj Finance got authorization from the Reserve Bank of India (RBI) for the issuance and operation of semi-closed Prepaid Payment Instruments(PPIs) with perpetual validity.

• In Q4 FY21, Bajaj Finance’s consolidated net profit jumped 42 percent to Rs 1,346.64 crore on a 5.2 percent decline in total income to Rs 6,854.94 crore when comparing with Q4 FY20.
• Bajaj Finance is a Non-Banking Finance Company(NBFC), which focuses on small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits, and value-added services.

About Prepaid Payment Instruments(PPI):
What is PPI?
PPIs are instruments that facilitate the purchase of goods and services, including financial services, remittances, funds transfers, etc., against the value stored in/on such instruments.
Who can issue PPI?
Companies that are incorporated and registered under the Companies Act, 1956 / Companies Act, 2013 in India can issue and operate PPIs after receiving authorisation from RBI.
Types of PPIs:
There are 3 types of PPIs – Closed System PPIs, Semi-closed System PPIs, and Open System PPIs
About Semi-closed System PPIs:
i.These are PPIs issued by banks (approved by RBI) and non-banks (authorised by RBI) for the purchase of goods and services, including financial services, remittance facilities, etc. These instruments do not permit cash withdrawal, irrespective of whether they are issued by banks or non-banks.
ii.3 Types of Semi-Closed System PPIs:

• PPIs up to Rs 10,000/- where minimum details of PPI holder are obtained (minimum-detail PPI)
• PPIs up to Rs 10,000/- with loading only from a bank account
• PPIs up to Rs 1,00,000/- where KYC of PPI holder is completed (full-KYC PPI)

About Bajaj Finance:
It is the third-largest non-banking finance company (NBFC) in India
Headquarters –  Pune, Maharashtra
Chairman – Sanjiv Bajaj

ECONOMY & BUSINESS

Reliance Retail Became the World’s 2nd Fastest-Growing Retailer – Deloitte In the “2021 Ranking of Global retail powerhouses” by Deloitte, millionaire Mukesh Ambani’s Reliance Retail Ltd has been ranked the 2nd fastest-growing retailer in the world, which is 1 rank down from its 2020 rank (In 2020 it was ranked 1st).
Note – South Korea’s Coupang is the World’s 1st Fastest-Growing Retailers.
List of Global Powers:

• In the report of the list of Global Powers, Retailing Reliance Retail Ltd was ranked 53rd (ranked 56th in 2020’s list) and it was the only Indian entry in the global list of 250 retailers.
• In the list of Global Powers of Retailing and World’s Fastest Retailers, Reliance Retail took place consecutively for the 4th time.
• The list has 7 United States(US) retailers among the top 10 and 1 from the United Kingdom(UK) (Tesco PLC at 10th position)

About Reliance Retail Ltd:
i.In FY20, it recorded a 41.8 percent Year-on-Year (YoY) growth which was driven primarily by a 13.1 percent increase in the number of stores in its consumer electronics, fashion and lifestyle and grocery retail chains, to 11,784 stores.
ii.Reliance Retail is partnering with WhatsApp to further accelerate Reliance Retail’s digital commerce business on the JioMart platform using WhatsApp and to support small businesses on WhatsApp.
About Deloitte:
Headquarters – London, United Kingdom
Global Chief Executive Officer – Punit Renjen
About Reliance RetailLtd:
It is a subsidiary of Reliance Industries Limited
Establishment – 2006
Headquarters – Mumbai, Maharashtra
Founder – Mukesh Ambani

APPOINTMENTS & RESIGNATIONS          

Himanta Biswa Sarma Becomes 15th Chief Minister of AssamOn May 10, 2021,Himanta Biswa Sarma was sworn in as the 15^th  Chief Minister of Assam. He has replaced Sarbananda Sonowal. Both the candidates are from BJP(Bharatiya Janata Party).

• He was administered the oath by Governor Jagdish Mukhi.

Note:
Based on Article 164 the Governor appoints the Chief Minister.
Key points:
i.BJP-led NDA(National Democratic Alliance) secured a comfortable majority in Assam winning 75 seats of the total 126 constituencies.
ii.Himanta Biswa Sarma was a former member of the Indian National Congress and then joined Bharatiya Janata Party on 23 August 2015.
About Assam:
Capital: Dispur
Governor: Jagdish Mukhi
>>Read Full News

ACQUISITIONS & MERGERS        

CCI Approved the 100% Acquisition of Ingram Micro Inc. by Imola Acquisition CorporationImola Acquisition Corporation received approval from Competition Commission of India (CCI) to acquire 100% shareholding and sole control of Ingram Micro Inc. with its parent companies GCL Investment Management Inc., GCL Investment Holding Inc., and its direct and indirect subsidiaries
Key points:
i.Imola Acquisition Corporation is an entity incorporated recently by Platinum Equity Group.
ii.The Platinum Equity Group provides services and solutions such as information technology(IT), telecommunications, logistics, metal services, manufacturing, and distribution to customers.
iii.Ingram Micro is an IT company that specialises in technology distribution and logistics, cloud solutions, and e-commerce supply chain services.
About Ingram Micro Inc.:
Establishment – 1979
Headquarters – Irvine, California, United States
Chief Executive Officer – Alain Monié

ENVIRONMENT

Bryocrumia malabarica: New Species of Bryophyte Discovered in Kerala; Named After MalabarA team of botanists led by Manju C Nair discovered a new species of bryophyte in the Malabar Wildlife sanctuary along the Western Ghats in Kerala. The new species is named “Bryocrumia malabarica” of the genus Bryocrumia, and is named after the Malabar region where it was spotted.

• This is the 2nd species identified under the genus Bryocrumia, which was thought to be monotypic, represented by just one species (Bryocrumia vivicolor).
• This is the 12th species of bryophytes described from Kerala.
• The findings are published in the journal Acta Botanica Hungarica

About Bryocrumia malabarica:
i.Bryocrumia malabarica has closely arranged leaves with distinct tricostate, ovate rounded to truncate leaves and an inconspicuous central strand in the stem cross-section.
ii.The structure of its leaves differentiates it from Bryocrumia vivicolor.
iii.It is found on the rocky patches along the stream in the Malabar wildlife sanctuary.
iv.The species was first collected in 2014 as a part of the PhD programme of Prajitha on the taxonomy of Bryophytes of the Malabar Wildlife Sanctuary.
Member of the research team.
The team of botanists led by Manju C.Nair, Zamorin’s Guruvayurappan College, Kozhikode consists of,

• R. Prakashkumar, Director, Jawaharlal Nehru Tropical Botanic Garden and Research Institute(JNTBGRI), Thiruvananthapuram;
• Prajitha B., Malabar Botanical Garden and Institute for Plant Sciences, Kozhikode;
• Wen-Zhang Ma, Chinese Academy of Sciences, Yunnan, China.

SPORTS

Formula One: Lewis Hamilton wins Spanish Grand Prix 2021Mercedes driver Lewis Hamilton (Britain) won the Spanish Grand Prix 2021 for the 6th time (5th consecutive victory). The Spanish GP was held at Circuit de Barcelona-Catalunya in Montmela, Spain. The victory is also his 98th F1 Race Win (highest-ever in F1).

• Lewis Hamilton also became the 1st Formula One driver to seal 100 pole positions (1st position in the starting grid when the race is starting).
• Red Bull Racing Honda’s Max Verstappen (Netherlands) finished 2nd followed by Mercedes driver Valtteri Bottas (Finland).
• The F1 Championships are organised by Federation Internationale de l’Automobile (FIA).

Lewis Hamilton

• Lewis Carl Davidson Hamilton is a British Racing Driver. He is the only black driver to race in the sport.
• Records – Joint-record 7 World Drivers’ Championship titles (tied with Michael Schumacher), most F1 wins (98), most Pole Positions (100) & most Podium Finishes (169).

About Federation Internationale de l’Automobile (FIA)
President – Jean Todt
Headquarters – Paris, France
>>Read Full News

Tennis-2021 Madrid Open: Alexander Zverev won Men’s Singles, Aryna Sabalenka won Women’s SinglesGermany’s Alexander Zverev defeated Matteo Berrettini of Italy to win the Men’s Singles Title of the 2021 Madrid Open (19th Edition on ATP). This is the 2nd  Madrid Open Title (previous one – 2018) & 4th Masters 1000 Title for Alexander Zverev.

• In the Women’s Singles Category, Belarus’ Aryna Sabalenka defeated World No.1 Ashleigh Barty (Australia) to clinch her maiden Madrid Open Title. The 2021 Madrid Open is the 20th edition of the Tournament in WTA .
• The 2021 Madrid Open was held from 30th April 2021 – 9th May 2021 at Manzanares Park Tennis Center (also known as Manolo Santana Stadium), Madrid, Spain.
• The Madrid Open is a Clay-court event.

>>Read Full News

OBITUARY

Eminent Sculptor, Rajya Sabha Member, Padma Awardee Raghunath Mohapatra Passed AwayEminent sculptor , Rajya Sabha member and  Padma Awardee Raghunath Mohapatra passed away due to covid-19 in Bhubaneshwar, Odisha.He was born on 24^th March 1943 in Puri,Odisha.
About Raghunath Mohapatra:
i.In 2018,Raghunath Mohapatra was nominated by President Ram Nath Kovind as the first person from Odisha to the Rajya Sabha.
ii.He was awarded India’s second highest civilian award Padma Vibhushan in 2013 for his contribution to the field of stone sculpture.
iii.He had also won Padma Bhushan award in 2001 and Padma Shri award in 1976 for his contribution to the field of stone sculpture.
iv.At the age of 22 he had won the National award for Sculpture in 1964
v.He was also nominated by the Ministry of External Affairs, Government of India as a Member of the Indian Council for Cultural Relations (ICCR) in 2000.

Olympic gold medallist and former Indian hockey coach MK Kaushik passed awayFormer India hockey player and coach Maharaj Krishan Kaushik(M K Kaushik) passed away at the age of 66 after battling COVID-19 in New Delhi.He was born on 2^nd May 1955.He was the member of the Indian Hockey team that won the Gold medal in 1980 Olympics held in Moscow,Russia
About MK Kaushik:
i.MK Kaushik was awarded the Arjuna Award in 1998 for his role as a sportsman and the Dronacharya award in 2002 for his contribution as a coach.
ii.He had coached both the senior men and women’s teams. Under his coaching, India men’s team won a gold medal at the 1998 Asian Games in Bangkok.
iii.Also, Indian women’s team had won a bronze medal at the Doha Asian Games in 2006 under his coaching.
iv.Apart from sports,he also wrote the book The Golden Boot.
v.He was also involved in the development of the 2007 Bollywood film Chak De India which was based on Hockey

 Asian Games Gold Medallist, Footballer – Fortunato Franco Passed awayOn May 10, 2021, Former India international footballer, Fortunato Franco, passed away in Goa. He was a part of the 1962 Asian Games gold medal-winning football team in Jakarta. He was born in 1937 in Goa.

• He was a part of the 1960 Rome Olympics squad (but didn’t get a game).
• He made 26 appearances for India, including the 1962 Asian Cup, also played at the Merdeka Cup in 1964 (winning silver) and 1965 (winning bronze).
• At the domestic level, Franco played for Tata Football Club in Mumbai. He worked in that company’s public relations department for four decades before retiring in 1999.

BOOKS & AUTHORS

Paul Pickering Authored a Book Titled “Elephant”The British Novelist Paul Pickering has authored a new book titled “Elephant”.The book is to be published by Salt Publishing.

• This book is about the love story between Natasha and the man in Paris and it explores the interface between fact and fiction.
• The elephant culturally symbolises India more than any other country. According to the author, his book ‘Elephant’ is an affirmation of ‘I am my voice’. And my voice is as big as an elephant, which in turn is as big as creation.

About the Author
i.Paul Pickering is the author of six novels, Wild about Harry, Perfect English, The Blue Gate of Babylon, Charlie Peace, The Leopard’s Wife and Over the Rainbow.
ii.The Blue Gate of Babylon was a New York Times notable book of the year.
iii.Often compared to Graham Greene and Evelyn Waugh, Pickering was chosen as one of the top ten young British novelists by bookseller WH Smith and has been long-listed for the Booker Prize three times.
iv.Apart from short stories and poetry, he has also written several plays, film scripts and columns for The Times and Sunday Times.

“Life in the Clock Tower Valley” Debut Novel of Journalist Shakoor RatherDelhi-based Kashmiri journalist Shakoor Rather has authored his debut novel titled “Life in the Clock Tower Valley”. The novel travels between the past, present and future of Kashmir. The book was published by Speaking Tiger Books.
About the book:
i.The Book provides an insider’s view of everyday life and emotions in Kashmir valley through various love stories.
ii.The book focuses on the emotions and hardships of the common people of Kashmir and the conflicts and military presence in the region.
iii.The book also features historical and political information about Kashmir along with its environmental issues.

IMPORTANT DAYS

Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the Second World War 2021 – May 8-9The United Nations(UN) annually mark May 8th-9th as the Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the Second World War to create awareness about the misfortune of war and to pay tribute to all the victims of World War II(WWII).

• The year 2021 marks the 76th anniversary of the end of World War II.
• The member states of the UN annually observed either one or both days to pay tribute to the victims of WWII.

Background:
The United Nations General assembly adopted the resolution A/RES/59/26 on 22nd November 2004 and declared the 8-9 May as the time of remembrance and reconciliation for Those Who Lost Their Lives during the Second World War.
>>Read Full News

STATE NEWS

Assam became the 1st Indian state to adopt an Online flood reporting systemOn May 8, 2021, Jishnu Barua, Chief Secretary, Assam launched a real-time Digital – Flood Reporting and Information Management System (FRIMS). With this launch, Assam became the 1st state in India to adopt an online flood reporting system.

• FRIMS was developed jointly by Assam State Disaster Management Agency(ASDMA) and United Nations Children’s Fund(UNICEF).
• Objective: To capture critical impact indicators during floods as the state is facing a deluge (severe flood) every year.

Features of FRIMS:
i.It will replace the state’s existing manual flood control mechanism with the web cum mobile application-based technology-driven system, which will report online about floods daily from May 15, 2021. (Assam has a mandatory system of daily flood reporting between May 15 to October 15, 2021)
ii.This real-time flood reporting will address the data need for addressing the immediate needs of vulnerable groups (like children and women) in addition based on this the govt will also provide financial assistance for restoration.
iii.UNICEF India Chief, Emergency and Disaster Risk Reduction (DRR), Tom White complemented the Government of Assam for such an initiative
About United Nations Children’s Fund(UNICEF): 
Executive Director – Henrietta Holsman Fore
Headquarter – New York, USA
>>Read Full News

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