Current Affairs 14 October 2021

We are here for you to provide the important Recent and Latest Current Affairs 14 October 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

National Conference for Zoo Directors & Veterinarians 2021 held in Gujarat; Prani Mitra Awards 2021 conferredi.On October 10-11, 2021, a two-day National conference for zoo directors and veterinarians 2021 was hosted by Sardar Patel Zoological Park, Kevadia, Gujarat. Organized by Central Zoo Authority (CZA), it was attended by Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC).
ii.At the valedictory, Mrs Sudha Murthy, Chairperson Infosys Foundation was felicitated.
iii.An outreach movie titled ‘Live in harmony with nature, stop illegal trade in wildlife’ produced by Wildlife Crime Control Bureau (WCCB) was also released during the conference.
About Central Zoo Authority (CZA):
Parent Organization– Ministry of Environment, Forest and Climate Change (MoEF&CC)
Chairman– Union Minister MoEF&CC (Currently- Bhupender Yadav)
Headquarter– New Delhi, Delhi
>>Read Full News

Power Finance Corporation receives Maharatna statusPower Finance Corporation Ltd (PFC) was accorded the status of ‘Maharatna central public sector enterprise (CPSE)’ by the Department of Public Enterprises, under the Ministry of Finance.This status is giving the PFC for greater operational and financial autonomy.

• PFC is the largest infrastructure finance company exclusively dedicated to the power sector under the administrative control of the power ministry.

Maharatna status
i.With this, PFC can now invest up to ₹5,000 crore, or 15 percent of its net worth, in a single project.
ii.It enhances powers to the PFC board while taking financial decisions.
Other Maharatna CPSEs
i.PFC is 11th firm to join Maharatna CPSE club.
ii.The other 10 Maharatna CPSEs are Bharat Heavy Electricals Ltd, Bharat Petroleum Corp. Ltd, Coal India Ltd, GAIL (India) Ltd, Hindustan Petroleum Corp. Ltd, Indian Oil Corp. Ltd, NTPC Ltd, Oil & Natural Gas Corp. Ltd, Power Grid Corp. of India Ltd, and Steel Authority of India Ltd.
iii.There are 14 Navratna and 73 Miniratna CPSEs.Navratna and Miniratna CPSEs can invest up to Rs 1,000 crore and Rs 500 crore, respectively.
About Power Finance Corporation Ltd (PFC)
Chairman and managing director – Ravinder Singh Dhillon
Headquarters – New Delhi
Founded –1986

Cabinet Approval on October 12, 2021The Union Cabinet chaired by Prime Minister Narendra Modi has given its following approvals
i.The Union Cabinet has approved the continuation of Swachh Bharat Mission (Urban) till 2025-26 with an outlay of Rs 1,41,600 crores w.e.f October 1, 2021. It will be regarded as SBM-Urban 2.0 with aim of ‘Garbage Free’ Urban India.
ii.The Union Cabinet also approved the Atal Mission for Rejuvenation and Urban Transformation 2.0 (AMRUT 2.0) till 2025-26 with an outlay of Rs 2,77,000 crore. It aims to make cities ‘water secure’ and ‘self-sustainable’ through circular economy of water.
iii.The Union Cabinet cleared the proposal of affiliation of 100 schools, including both private and public, with the Sainik School Society, under the Ministry of Defence (MoD).
iv.CCEA approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy (NBS) Rates for P&K Fertilizers for the year 2021-22(from 1st October, 2021 to 31st March, 2022).
>>Read Full News

NHAI & TIDCO signs MoU for Development of Multi-Modal Logistics Park in Chennai Port’s landA virtual Memorandum of Understanding (MoU) was signed with NHAI (National Highways Authority of India) and TIDCO (Tamil Nadu Industrial Development Corporation) for the development of Multimodal Logistics Park (MMLP) with an investment of ~Rs 1,200 crore in Mappedu village in Tiruvallur district in Chennai Port’s land.

• The Union Minister for Ports, Shipping and Waterways, Sarbanand Sonowal has announced establishment of a Special Purpose Vehicle (SPV) for development of a MMLP at V.O. Chidambaranar Port (VOC) Port in Chennai.
• The MMLP will be developed through Public-Private Partnership (PPP). The SPV will  provide land and connectivity and the MMLP infrastructure to be developed by a private developer. NHAI/ NHIDCL ( National Highways and Infrastructure Development Corporation Limited ) under Ministry of Road Transport and Highways have been assigned the task of developing MMLPs

Stakeholder-

• There will be three stakeholders- Chennai Port Authority, TIDCO and NHAI will be equity partners.
• The equity contribution/investment of the Chennai Port is the cost of the land amounting to INR 167 crore, NHAI contribution is INR 130 crore and that of State government  through TIDCO is INR 50 crore.

Key points
i.The Government of India has taken a novel initiative to develop 35 Multimodal Logistic Parks (MMLP) under Bharatmala Pariyojana across the country. Whereas In this network of MMLPs, Chennai is among the first to be chosen for implementation.
ii.As a part of MMLP, the Chennai Port authority has acquired a land parcel of 121.74 acres on a 99-year lease basis from SIPCOT for the purpose of developing a Dry Port.
iii.The MMLP  will provide smooth  Rail-road connectivity, proximity to Main Sea Route, all weather operational conditions, and geographic position to link Eastern coast with the Western coast.
iv.It will  facilitate  seamless multi modal freight transfer, and specialized storage solutions, such as cold storage, warehouses equipped with mechanized material handling and inter modal transfer terminals for containers, bulk and break-bulk cargo.
About National Highways Authority of India (NHAI)
Founded– 1988
Chairman- Shri Giridhar Aramane
Headquarters-New Delhi, Delhi

Centre plans to increase PMBJKs to 10,000 by 2024

The Government of India has set a target to increase the number of Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) to 10,000 across the country by March 2024.

• Till October 10, 2021, a total of 8,366 Janaushadhi Kendras have been increased across 736 districts in the country.
• As many as 1,451 drugs and 240 surgical instruments are under product basket of Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP).

About PMBJP

• It stands for Pradhan Mantri Bhartiya Janaushadhi Pariyojana.
• It was Launched by Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers in 2008.
• Pharmaceuticals & Medical Devices Bureau of India (PMBI) is the implementing agency of the scheme.

>>Read Full News

MoRTH announces ‘Good Samaritans’ scheme to award lifesavers In October 2021, the Ministry of Road Transport and Highways (MoRTH) announced ‘Good Samaritans’ scheme to award & appreciate citizens who save the lives of road accident victims by admitting them to hospital with the ‘Golden Hour’. The lifesavers will be provided with a cash reward of Rs 5,000 per incident per individual along with an appreciation certificate.

• Golden Hour is the first 60 minutes from the point of accident or trauma, in which the victim’s survival rate is at the highest.
• As per provisions under Section 134A of the Motor Vehicle Amendment Act 2019, rules for Good Samaritans had been notified by the ministry on September 29, 2020.

Scheme Validity – The scheme will be effective from October 15, 2021 till March 31, 2026.State & Union Territory Governments will be allocated with Rs 5 lakhs per month for awarding Good Samaritans, which will be altered on a monthly basis based on the need.
Awards & Appreciations:

• Cash awarded of Rs 5,000 per victim saved, with a maximum of Rs. 5,000 per Good Samaritan.
• At the end of the year, the Ministry will announce 10 National level awards for the worthiest Good Samaritans, where each will be rewarded with Rs. 1 lakh.
• As per the guidelines, an individual Good Samaritan can be awarded a maximum five times in a year.

Procedure Followed:
i.Doctores will verify the details of Good Samaritans and inform the respective Police station with first hand details about the person & the lethality of the accident.
ii.Police shall award the Good Samaritan with cash reward & certificate.
iii.The information will be forwarded to the appraisal committee formed at district level under the chairmanship of district magistrate, which will further forward the information to the Ministry for final selection.
About Ministry of Road Transport & Highways (MoRTH): 
Union Minister – Nitin Jairam Gadkari (Constituency – Nagpur, Maharashtra)
Minister of State – Vijay Kumar Singh (Constituency – Ghaziabad, Uttar Pradesh)

BANKING & FINANCE

Saraswat Bank partners with Axis Securities to Integrate Banking with Investments

Saraswat Cooperative Bank Ltd.(Saraswat Bank) has partnered  with Axis Securities to offer its customers investing services through a 3-in-1 account.The facility will integrate savings bank account maintained by the co-operative bank with the demat and trading account offered by Axis Securities, which is a subsidiary of Axis Bank.
Objective-
To  make investments simple and accessible to all.This facility will make it easier for customers to transfer funds quickly, reduce paperwork and most importantly, provide a comprehensive platform to invest in various investment instruments like equities, derivatives, currency, commodities, MF, IPO, etc.,
Features and Benefits
i.The Savings and Demat Account of the customer will be maintained by Saraswat Bank, while the Trading account will be maintained by  Axis Securities Limited.
ii.The concerned Saving/Current Account must be powered with Internet banking facility to use the Online Trading service.
iii.The client availing this facility must be the 1st holder of the three accounts, i.e, Saving, Demat and Trading Account.
iv.The customer will be allowed to transact in the Equity and/or Derivatives segment of the market.
v.The customer will not be required to visit the branch for any transaction.
About Saraswat Bank:
Saraswat Bank is the largest Urban Co-operative Bank in India.
Founded– 14 September 1918
Chairman– Gautam E Thakur
About Axis Securities Limited
Chief Executive Officer and Managing Director–  B. Gopkumar

RBI Granted Licence to Centrum-BharatPe’s Unity SFB; become 12th SFB of IndiaThe Reserve Bank of India (RBI) issued the ‘Small Finance Bank’ (SFB) licence to Centrum-BharatPe’s ‘Unity Small Finance Bank Ltd (USFBL)’ to carry on an SFB business in India.

• USFBL is a consortium that was established jointly by Centrum Financial Services Ltd (CFSL), a subsidiary of Centrum Capital Limited (CCL), and Resilient Innovations Private Limited (BharatPe).
• With the establishment of USFBL, the number of SFBs in India was increased to 12.
• Former State Bank of India (SBI) chairman Rajnish Kumar was appointed as the chairman of the BharatPe board.

Note – RBI Imposed Monetary Penalty of Rs 30 lakh on Janata Sahakari Bank Ltd, Pune, Maharashtra for non-compliance with certain directions issued by RBI.
About Reserve Bank of India (RBI):
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
Deputy Governors – Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeshwar Rao, T. Rabi Sankar
>>Read Full News

Postal department unveils digital policy bonds –ePLI bondThe Department of Posts launched a digital version of the postal life insurance policy – ePLI bond, which can be accessed through Digilocker.

• The Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) policy bonds which are available in electronic form will be treated as a valid policy document for all transactions.
• The ePLI bond was developed by the National eGovernance Division (NeGD) of the Ministry of Electronics & IT (Meity) and made available in collaboration with Digilocker.
• The facility is available for all new and old policyholders.

Objective
i.The PLI bond is the department’s first digital integration with Digilocker, it facilitates ease of access and quick claim settlements.
ii.Allows the users to download all the policies they are holding after the issue of the policy bond by the Department of Posts.
iii.ePLI bond can be used as proof for effecting any changes that are required in the policy document like address change, nomination etc without the hassle of carrying the physical copy.
About Department of Posts
It is also known as India Post
Director General – Alok Sharma
Secretary, Department of Posts & Chairperson, Postal Services Board –Shri Vineet Pandey
Headquarters – New Delhi
Founded –1854

Shivalik SFB Tie-up with Go Digit General Insurance to Offer Insurance ProductsShivalik Small Finance Bank (SFB) partnered with Go Digit General Insurance to offer instant, easy-to-understand insurance products through the bank’s network of branches across India digitally.

• The insurance products include health insurance plans, motor insurance, home and shop insurance.
• The Shivalik bank’s current customers are generally classified into different segments such as retail, manufacturing and services, housing and real estate, and microfinance.
• Go Digit General Insurance will support the bank in making the process of buying cover, submitting and receiving claims easier for its customers.

About Shivalik Small Finance Bank:
Shivalik became the first Small Finance Bank in India’s history to transition from an Urban Co-operative Bank.
Headquarters – Noida, Uttar Pradesh
MD & CEO – Suveer Kumar Gupta

ECONOMY & BUSINESS

IMF Retained India’s 2021 GDP Growth Forecast to 9.5%In its October 2021 World Economic Outlook (WEO) titled ‘Recovery During a Pandemic Health Concerns, Supply Disruptions, and Price Pressures’, the International Monetary Fund (IMF) has retained India’s Gross Domestic Product (GDP) growth forecast for 2021 unchanged at 9.5 percent (July 2021 forecast).

• India’s GDP growth forecast for 2022 was also unchanged at 8.5 percent.

• The IMF has reduced the global economy growth in 2021 by 0.1 percent to 5.9 percent (from 6 percent of July 2021 projection) and the growth was projected at 4.9 percent in 2022.
• India’s consumer price index-based inflation is expected to be at 5.6 percent in 2021(reduced from 6.2 percent in 2020) and expected inflation to be at 4.9 percent in 2022.

About International Monetary Fund (IMF):
Establishment –  1944
Headquarters – Washington, D.C., United States
Member Countries – 190
MD – Kristalina Georgieva
>>Read Full News

STPI, SINE-IIT Bombay collaborate to strengthen startup ecosystemSoftware Technology Parks of India (STPI), an organisation under the Ministry of Electronics and Information Technology (MeitY), AIC STPINEXT Initiatives (STPINEXT) have signed a tripartite non-financial memorandum of understanding MoU with (Society for Innovation and Entrepreneurship) SINE-IIT Bombay for fostering entrepreneurship and nurturing tech start-ups.

• STPI has been working for the creation of start-up ecosystems in the country by developing 25 Centres of Entrepreneurship (CoEs) in emerging technologies.

Objective of the MoU
i.The collaboration with SINE-IIT Bombay will strengthen and leverage the SINE-IIT Bombay’s expertise and knowledge to empower startups incubated at STPI Motion, Pune, learn and garner experience to scale up their ventures.
ii.To strengthen collaborations among various stakeholders.
About STPI
It stands for Software Technology Parks of India
Director General – Dr Omkar Rai
Headquarters – New Delhi
Founded – 1991
About SINE-IIT Bombay
It stands for Society for Innovation and Entrepreneurship- Indian Institute of Technology-Bombay
Chairman – Subhasis Chaudhuri
Founded – 2004

AWARDS & RECOGNITIONS        

Microsoft CEO Satya Nadella Gets 2021 C K Prahalad Award for Global Business Sustainability Leadership

Microsoft Chief Executive Officer (CEO), Indian American Satya Nadella got the prestigious C K Prahlad award for Global Business Sustainability Leadership for the year 2021.
Key points
i.The award recognises exceptional, globally significant private-sector action, innovation and long-term business success in a globalizing world.
ii.Four Microsoft leaders received the award. They are president and vice chair Brad Smith, chief financial officer Amy Hood, chief environment officer Lucas Joppa along with Nadella- for their collaborative leadership aimed at transforming Microsoft into a carbon negative company by 2030 and to remove all its historical emissions by 2050.
iii.By 2025, the company will shift to 100 % renewable energy for its data centres, buildings and campuses and it will protect more land than its operations use.
iv.By 2030, it will match 100 %of its electricity consumption, 100 % of the time, with zero-carbon energy purchases – and will push beyond that to actually become carbon negative: to remove more carbon from the environment than the company emits.
About Microsoft
Chief Executive Officer: Satya Nadella
Founded: 4 April 1975, Albuquerque, New Mexico, United States
Headquarters: Redmond, Washington, United States
Chairperson: John W. Thompson

APPOINTMENTS & RESIGNATIONS          

Meera Mohanty appointed as JS in PMO & Ritesh Chauhan will be CEO, PM Fasal Bima YojanaOn October 12, 2021 As part of a bureaucratic reshuffle, Meera Mohanty appointed as the Joint Secretary (JS) in the Prime Minister’s Office (PMO) and Ritesh Chauhan has been appointed as  the Chief Executive Officer (CEO) of the Pradhan Mantri Fasal Bima Yojana (PMFBY), replacing Ashish Kumar Bhutani.
Key Points:
i.Meera Mohanty is the IAS (Indian Administrative Services) officer of  2005-batch, Himachal Pradesh cadre.& currently serving as the director in the PMO.
ii.Ritesh Chauhan will be the CEO of  PMFBY and JS of  Agriculture under the Department of Agriculture and Farmers  Welfare for a combined tenure of seven years up to September 22, 2023.
About Pradhan Mantri Fasal Bima Yojana (PMFBY)
i.In 2021, the flagship crop insurance scheme of the Government of India – the Pradhan Mantri Fasal Bima Yojana (PMFBY) – has completed five years of its launch.

• PMFBY was launched on 2016.
• The scheme was conceived as a milestone initiative to provide a comprehensive risk solution at the lowest uniform premium across the country for farmers.

>>Read Full News

ACQUISITIONS & MERGERS

SBI, UBI, PNB & Indian Bank picked up stakes in NARCL

The State bank of India(SBI), Union Bank of India(UBI), Punjab National Bank(PNB) and Indian Bank has picked up more than 12% stake each in the proposed bad bank National Asset Reconstruction Company Ltd (NARCL).
Details of acquisition:
i.The SBI and UBI have picked up a 13.27% stake each which represents a cumulative 3.88 crore shares in NARCL.
ii.The PNB has picked up a 12.06% stake which is around 1.8 crore shares in NARCL.
iii.The Indian Bank has picked up around a 13.27% stake, subscribing 1.98 crore equity shares for a cash consideration of Rs 19.80 crore.
Note:
The lenders have subscribed to the equity shares of NARCL at Rs 10 per share.
The acquisition is expected to be completed by March 2022.
Key points:
i.Indian bank, UBI and SBI are set to bring down their stake of 13.27 per cent to 9.90 per cent by December 2021 on subscription by other public sector banks (PSBs)/ financial institutions.
ii.PNB said it will bring down its stake from 12.06 per cent to 9 per cent by December 31, 2021.
About NARCL:
i.NARCL will take over the bad assets of banks in its own account for a speedy resolution of troubled loans.
ii.51% stakes of NARCL will be owned by the PSBs and the rest will be owned by private-sector lenders.
iii.Canara Bank is determined to become the lead sponsor of NARCL with a 12% stake.
Click here to know more   

  IMPORTANT DAYS

World Investor Week 2021 – 4 to 10 OctoberThe World Investor Week(WIW), a week-long global campaign, is annually observed across the globe under the aegis of the International Organization of Securities Commissions (IOSCO) to create awareness on the importance of education and protection of investors and highlight the related initiatives of the securities regulators.
The 5th Edition of the World Investor Week, WIW 2021, was observed from the 4th October through 10th October 2021. 

• The WIW 2020 was observed from 5 October through November 2020.

WIW 2021 was organised by the IOSCO with the support of the Italian G20 Presidency.
WIW observance is supported by the securities regulators and the IOSCO stakeholders across the globe.
WIW campaign 2021:
i.As a part of the WIW campaign 2021, securities regulators, stock exchanges, global and regional financial organizations and others organised a series of educational activities.
ii.Primary objectives:

• To disseminate key messages that support investor education, investor protection and financial literacy
• To foster learning opportunities for investors.

iii.Key messages of the 2021 campaign are based on two themes,

• Sustainable Finance
• Frauds and Scams Prevention

WIW in India:
The Securities And Exchange Board Of India (SEBI) led the observance of the World Investor Week in India.
About International Organization of Securities Commissions (IOSCO):
Chairman–  Ashley Ian Alder(CEO of Securities and Futures Commission, Hong Kong)
Headquarters– Madrid, Spain
Established in 1983

International Day for Disaster Risk Reduction 2021 – October 13The United Nations(UN)’s International Day for Disaster Risk Reduction (IDDRR) is annually observed across the globe on October 13th to promote the culture of risk awareness and disaster reduction and to recognise the progress towards reducing disaster risk and loss of lives, livelihoods and health.

• The day also highlights the efforts of people and communities across the globe toward reducing exposure to disasters and to create awareness about the importance of controlling the risk they face.

IDDRR 2021 focuses on ‘International cooperation for developing countries to reduce their disaster risk and disaster losses’. This is the 6th target of the Sendai Seven targets.
Background:
i.In 1989, the United Nations General Assembly(UNGA) adopted a resolution A/RES/44/236 and designated the 1990s as the International Decade for Natural Disaster Reduction (IDNDR) and designated the 2nd Wednesday of October as International Day for Natural Disaster Reduction during the IDNDR.
ii.Following this UNGA adopted the resolution A/RES/64/200 on 21st December 2009 and proclaimed the 13th October of every year as the International Day for Disaster Reduction.
About United Nations Office for Disaster Risk Reduction (UNDRR):
United Nations Office for Disaster Risk Reduction (UNDRR) formerly United Nations International Strategy for Disaster Reduction (UNISDR).
Head(Assistant Secretary-General)– Mami Mizutori
Headquarters– Geneva, Switzerland
>>Read Full News

World Thrombosis Day 2021 – October 13World Thrombosis Day(WTD) is annually observed across the globe on October 13th to create awareness about Thrombosis, the formation of a blood clot, known as a thrombus, within a blood vessel.
The day aims to highlight the issues of thrombosis and the importance of thrombosis risk assessment.

• 13th October 2021, marks the observance of the 8th World Thrombosis Day(WTD).

Background:
The International Society on Thrombosis and Haemostasis (ISTH) launched World Thrombosis Day, a global campaign, in 2014 and the day is annually observed on 13th October.
Why October 13?
The WTD on 13th October also marks the birth anniversary of Rudolf Virchow a pioneer in the pathophysiology of thrombosis.

• Rudolf Virchow is a German physician, pathologist, biologist and anthropologist, who developed the concept of ‘thrombosis’ and advanced the understanding of ‘thrombosis’.

Eyes Open to Thrombosis
‘Eyes Open to Thrombosis’, a dedicated campaign developed to create awareness about Thrombosis.

• ISTH, launched campaign centred on the theme “Eyes Open to Thrombosis” in 2020.

Aim: to increase global awareness of thrombosis, including its causes, risk factors, signs or symptoms and evidence-based prevention and treatment.
About Thrombosis:
i.The 2 main types of thrombosis are,

• Arterial thrombosis refers to a blood clot that blocks an artery
• Venous thrombosis, also known as venous thrombo embolism or VTE, refers to a blood clot in a vein.

ii.Various conditions such as stroke, heart attack, and serious breathing problems are caused due to thrombosis.
iii.Every year, 1 in 4 people across the globe die due to the conditions caused by thrombosis.

World Egg Day 2021 – 8th OctoberWorld Egg Day is annually observed across the globe on the 2nd Friday of October to create awareness about the benefits of the consumption of eggs. The day aims to highlight the nutritional value of eggs and their significance as a solution to solve the issues of malnutrition.
World Egg day 2021 was observed on 8th October 2021, which marks the 25th anniversary of World Egg Day.

• World Egg Day 2020 was observed on 9th October 2020
• World Egg Day 2022 will fall on 14th October 2022.

The theme of World Egg Day 2021 is “Eggs for ALL: Nature’s Perfect Package”.
Background:
i.In 1996, International Egg Commission (IEC) established World Egg Day during the conference held in Vienna, Austria, and decided to observe the 2nd Friday of October of every year as World Egg Day.
ii.The first ever World Egg day was observed in 1996.
Importance of Egg:
The egg is a nutrition powerhouse that contains high-quality protein, iron, vitamins, minerals, and carotenoids along with nutrients like lutein and zeaxanthin.
Efforts of IEC:
i.IEC established the International Egg Nutrition Centre (IENC) to promote the nutritional value of the egg.
ii.IENC also supports the sharing of resources and research to get a better understanding of the nutritional value of eggs and their role in human nutrition.
iii.The Global Initiative for Sustainable Egg Production (GISE) was established in 2018 to support the improvement in sustainability in the egg industry and to work toward fulfilling the United Nations 17 Sustainable Development Goals (SDGs).
About  International Egg Commission (IEC):
Chairman– Suresh Chitturi
President– Tim Lambert
Headquarters– United Kingdom

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