Current Affairs 20 May 2021

We are here for you to provide the important Recent and Latest Current Affairs 20 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

Karnataka ranks 1st in establishing HWCs under Ayushman Bharat SchemeKarnataka has been ranked as the Number One state in establishing a Health & Wellness Centre (HWC) under the Ayushman Bharat project for the year 2020-21, it was stated by Karnataka’s Health & Family Welfare Department.

• HWCs are established to provide comprehensive primary healthcare in rural areas.

Karnataka’s actions under Ayushman Bharat Project
i.The state has surpassed several targets set for it by the Union Government.

• Ayushman Bharat was launched in 2018 with its two main pillars of HWCs & Pradhan Mantri Jan Arogya Yojana (PMJAY).
• The Central Government has set a target of 1.5 lakh functional AB-HWCs by December 2022.

About Karnataka
Governor – Vajubhai Vala
Chief Minister – B. S. Yediyurappa
Capital – Bangalore
>>Read Full News

CBIC notifies Customs Amendment Rules, 2021 to boost Trade FacilitationThe Central Board of Indirect Taxes and Customs (CBIC) has notified the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021,  it is expected to boost Trade Facilitation.

• It amends the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (IGCR, 2017).
• IGCR, 2017 lays down the procedures and manner in which importer can avail benefit of a concessional duty on import of goods required for domestic production of goods or providing services.

New Changes

• The new amendment permits imported goods to be sent out for ‘job work’. This facility was absent in the previous act.
• Importers which do not have manufacturing facilities can avail the IGCR, 2017 to import goods at concessional Customs duty.
• The amendment allows entities/individuals/companies which import capital goods at a concessional Customs duty to clear them in the domestic market on payment of duty and interest, at a depreciated value.
• Importers taking advantage of concessional rate of import duty should give prior information to the customs officers about goods being imported and also its estimated quantity and value.

About Central Board of Indirect Taxes and Customs (CBIC)
Chairman – M. Ajit Kumar
Headquarters – New Delhi
>>Read Full News

Jharkhand tops in Implementation of Smart City Projects: MoHUAJharkhand has clinched the 1st Position among the 36 States & UTs of India based on the progress of implementation of Smart City projects, Rajasthan came second in the rankings. The rankings were released by the Ministry of Housing & Urban Affairs (MoHUA).

• The ranking is based on factors like smart city plan implementation, ongoing work and tendering process, utilisation of funds and provision of utility certificates to the Central Government.
• Rajasthan has climbed 27 ranks to get to the 2nd position, it was ranked 29th in the previous rankings.

Smart City Mission

• It was launched in 2015 with an overlay of INR 48, 000 Crores.
• Objective – To promote sustainable & inclusive cities for giving a decent quality of life to its citizens.
• Around 100 cities have been selected for area-based and pan-city development between 2019 and 2023.
• Implementation of the Smart Cities Mission is done by a Special Purpose Vehicle (SPV) to be set up at city level.
• INR 6, 450 Crore was allocated in Union Budget 2021-22 for the Smart Cities Mission.

About Ministry of Housing & Urban Affairs (MoHUA)
Minister of State (Independent Charge) Housing And Urban Affairs – Hardeep Singh Puri (Rajya Sabha – Uttar Pradesh)
>>Read Full News

4th India-Swiss Financial Dialogue Held Virtually in New Delhi

The 4th India-Swiss Financial Dialogue was held Virtually from New Delhi,India. Indian delegation was led by the Economic Affairs Secretary Ajay Seth, while his counterpart was Ms. Daniela Stoffel, State Secretary for International Finance, Switzerland.
Key points:

• Both the delegation shared their experiences on aspects including investments, International Financial Services Centre Authority (IFSCA), National Investment and Infrastructure Fund (NIIF) and cross border financial services.
• The matters relating to G20, International Monetary Fund (IMF) and tax challenges arising from the digitalization of the economy was also discussed along with infrastructure financing.

INTERNATIONAL AFFAIRS

Halting new Oil, Gas, Coalfields key to achieving Net Zero emissions by 2050: IEA ReportAccording to the report ‘Net Zero by 2050’ released by the International Energy Agency (IEA) –  Halting new oil, gas, and coalfields will be key to achieving Net Zero Global Carbon emissions by 2050.

• Achieving Net Zero emissions is vital to limit the increase in average global temperatures to less than 1.5 degree Celsius.
• The current pledges of the Nations across the world are insufficient to curb global temperature rise, they will result in an increase of 2.1 degrees Celsius by 2050.

Road map for Net-Zero emissions

• Energy investment needs to increase to USD 5 trillion a year by 2030 from USD 2 Trillion at present to achieve net zero emissions.
• Installation of Solar photovoltaic additions should reach 630 GigaWatts (GW) a year by 2030, Wind power needs to increase to 390 GW. It is four times the target set in 2020 for new capacity additions.
• The share of Electric Vehicles in the global fleet must increase from 5% (at present) to 60% by 2030.

About International Energy Agency (IEA)
Executive Director – Dr Fatih Birol
Headquarters – Paris, France
>>Read Full News

India, China, South Africa register better performance in Import & Exports during Q1 2021: UNCTADAccording to the Global  Trade Update (May 2021) released by the United Nations Conference on Trade and Development (UNCTAD) – India, China, and South Africa performed ‘relatively better’ than other major economies in imports & exports during the 1st Quarter of 2021.

• Compared to 2020 averages, India’s imports increased by 45%, and Exports increased to 26% in Q1 of 2021. Service Imports increased by 14%, Service Exports increased by 2%.
• At the Global level, Trade in goods and services increased by 10% year-over-year.
• The overall forecast for 2021 indicates an 16% growth in Global Trade – 19% for Goods and 8% for services.
• In Q2 of 2021, the value of Global Trade in goods and services is expected to reach USD 6.6 Trillion.
• Due to the pandemic, Global economy shrank by 4.3% in 2020.

About United Nations Conference on Trade and Development (UNCTAD)
Acting Secretary-General – Isabelle Durant
Headquarters – Geneva, Switzerland
>>Read Full News

Global Task Force on Pandemic Response Launched to Address Urgent COVID-19 Surges: US ChamberLeading Companies and Business Associations has launched the  Global Task Force on Pandemic Response to mobilize and deliver resources to assist COVID-19 efforts in areas of the highest need around the world.

• This US-Based public-private partnership is organised by the U.S. Chamber of Commerce and supported by Business Roundtable.
• The Global Task Force works in collaboration with the official of both the US and the Indian government to share the information and coordinate efforts.

Purpose:
To provide a unified platform for businesses to mobilize and deliver resources to assist COVID-19 efforts in areas of the highest need around the world.
About the Global Task Force:
i.The  Global Task Force is led by a steering committee composed of C-Suite executives from leading U.S. companies, business organizations and nonprofits.
ii.The members of the committee include Sundar Pichai(CEO of Alphabet Inc.), Andy Jassy(CEO of Amazon Web Services), Tim Cook( CEO of Apple), Arvind Krishna(Chairman and CEO of IBM), Suzanne Clark(President and CEO of U.S. Chamber of Commerce), Brad Smith(President of Microsoft).
iii.This task force will be working with the Chamber’s U.S.-India Business Council and the U.S.-India Strategic Partnership Forum to address the COVID-19 surges in India.
About U.S. Chamber of Commerce :
U.S. Chamber of Commerce is the world’s latest business organisation which represents companies of all sizes across every sector of the economy.
President and CEO– Suzanne Clark
Headquarters– Washington, DC, United States

BANKING & FINANCE

Proposal for Changing Promoters to Person in Control, Rationalizing Promoters Group: SEBIAs the concept of promoters is losing its relevance in India, the Securities and Exchange Board of India(SEBI) reviewed the regulatory framework of the promoter, promoter group and group companies as per SEBI (Issue of Capital and Disclosure Requirements(ICDR)) Regulations, 2018 with certain proposals.
SEBI’s Proposal

• The shifting of the concept of ‘promoter’ to ‘person in control’
• Rationalization of the definition of ‘Promoter Group’
• Reduction in lock-in period for minimum Promoters’ Contribution

i.Definition of Promoter: Companies Act, 2013 and SEBI (ICDR) Regulations, 2018 define a “promoter” as a person who has been named as such in the offer document or in the annual return of the issuer or a person who has control over the issuer (directly or indirectly) or in whose advice, directions or instructions the board of directors of the issuer is accustomed to act.
ii.According to the Regulation 2(pp) of the ICDR 2018 of the SEBI, Promoter group is a group of individuals or companies or combinations thereof acting in concert, which holds 20 percent or more of the equity share capital in that body corporate
iii.The current lock-in period of 3 years for minimum promoters’ contribution (20%)has been proposed to reduce to 1year in the case if the objective of the issue is concerning offer for sale or something related to financing, other than for capital expenditure for a project
About Securities and Exchange Board of India(SEBI):
Establishment – On April 12, 1992, under SEBI Act, 1992.
Headquarters – Mumbai, Maharashtra
Chairman – Ajay Tyagi
>>Read Full News

AWARDS & RECOGNITIONS

Prof Shankar Balasubramanian & Prof David Klenerman won 2020 Millennium Technology Prize by TAFCambridge University Chemists – Professor Shankar Balasubramanian and Professor David Klenerman won the 2020 Millennium Technology Prize for the development of revolutionary DNA sequencing techniques –  Next Generation DNA Sequencing (NGS). The award is presented by the Technology Academy Finland (TAF).

• Shankar Balasubramanian and David Klenerman jointly invented the Solexa-Illumina Next Generation DNA Sequencing (NGS), which enables fast, accurate, low cost and large scale genome sequencing.
• Sauli Niinisto, President of the Republic of Finland and the Patron of the prize presented the award over a virtual ceremony.

About Technology Academy Finland (TAF):
CEO– Markku Ellilä
Headquarters– Espoo, Finland
>>Read Full News

Elon Musk Loses 2nd-Richest Ranking to Bernard Arnault; Jeff Bezos Tops: Bloomberg Billionaires Index
On May 20, 2021, Tesla and SpaceX’s Chief Executive Officer Elon Musk lost his world’s 2nd-richest person position in Bloomberg Billionaires Index due to a sharp drop in Tesla’s share by 2.2 percent. Musk was overtaken by LVMH Moët Hennessy Louis Vuitton’s Chairman Bernard Arnault.

• Bernard Arnault’s net worth climbed by almost $47 billion to $161.2 billion due to a rise in the sale of his firm’s luxury goods in China and other parts of Asia.

Top 3 Richest Person:

1. Jeff Bezos (United States)
2. Bernard Arnault (France)
3. Elon Musk (United States)

Indian’s Position in the Index:

As on May 20, 2021, Mukesh Ambani topped among Indian’s in the list.He was ranked 13th Globally.He was followed by Gautam Adani(14th Globally), Azim Premji (44 Globally).

About Elon Musk:
i.Musk became the world’s richest person in January 2021 after Tesla’s shares surged almost 750 percent in 2020 due to a boom in technology-driven stocks.
ii.He also held the top spot in the Bloomberg Billionaires Index in March 2021, now he has a fortune of $160.6 billion, 24% down from its January value.
iii.His Bitcoins also started falling suddenly as much as 15%, after he stated that Tesla was no longer accepting the digital currency as payment.
iv.Musk’s fortune has dropped about $9.1 billion in 2021, tracked by Bloomberg’s wealth index.

Tashi Yangjom-1st Indian Woman Climber To Scale Mt Everest in 2021

Mountaineer, Tashi Yangjom from Arunachal Pradesh becomes the 1st Indian Woman Climber to Scale the World’s highest Mountain, Mt Everest (Elevation of 8,849 Metres) in 2021. She was trained at the National Institute of Mountaineering and Allied Sports (NIMAS) in Dirang, Arunachal Pradesh.

APPOINTMENTS & RESINGNATIONS

Indian-origin Immunologist Sankar Ghosh Elected to National Academy of Sciences

Indian-origin immunologist Sankar Ghosh has been elected to the prestigious National Academy of Sciences(NAS) in recognition of his “distinguished and continuing achievements in original research”. He is one of the 120 newly elected members announced by the NAS.
NAS is a private, non-profit institution established in 1863 by an Act of Congress, signed by President Abraham Lincoln.

• Sankar Ghosh is a Silverstein and Hutt Family Professor of Microbiology and the chair of the Department of Microbiology & Immunology at the Vagelos College of Physicians and Surgeons at Columbia University.

About NAS:
President– Marcia McNutt
Headquarters– Washington, DC, United States of America

ACQUISITION & MERGERS

CCI Approved – GPL to Acquire 100% Stake of YES AMC, YES Trustee; Adani port to Acquire 25% Stake of Krishnapatnam PortOn May 18, 2021, the Competition Commission of India (CCI) approved the acquisition of 100 percent equity shares of YES Asset Management Company (AMC) (India)(YES AMC) and YES Trustee Limited (YES Trustee) by GPL Finance and Investments Limited(GPL).

• YES AMC and YES Trustee were the wholly-owned subsidiaries of YES Bank.
• Through these acquisitions, GPL will acquire Yes Mutual Fund and become its sole sponsor and it marks the exit of the YES bank from the mutual fund market.

-Adani Ports to acquire 25% stake of Krishnapatnam Port 
CCI approved the acquisition of the remaining 25% shareholding of Adani Krishnapatnam Port Limited(AKPL) by Adani Ports and Special Economic Zone Limited(APSEZL) from Vishwa Samudra Holdings for Rs 2,800 crore.

• In October 2021, APSEZL has acquired 75 percent shareholding of AKPL now, after the current acquisition APSEZL holds 100% shareholding of AKPL and will become the wholly-owned subsidiary.

About YES Bank:
Establishment – 2004
Headquarters – Mumbai, Maharashtra
MD & CEO – Prashant Kumar
Tagline– Experience our Expertise
>>Read Full News

Govt to Raise Rs 4,000 crore via Sale of 58 million shares in Axis BankThe government(govt) sold 58 million shares in Axis Bank, which is held through the Specified Undertaking of the Unit Trust of India (SUUTI) to raise around Rs 4,000 crore.

• The shares are sold through the offer for sale (OFS) route. The OFS was made open for non-retail investors on May 19, 2021, and for retail investors on May 20, 2021
• 35 million shares/ 1.21 percent stake in Axis Bank was sold by govt as a base offer and the remaining 22 million shares/0.74 percent stake was sold under a green-shoe option. The floor price for the stake sale has been fixed at Rs 680 apiece.

Key points:
i.On December 31, 2018, SUUTI held a 9.56 per cent stake in Axis Bank, and it was reduced to 3.45 percent as of March 31, 2021.
ii.SUUTI sold 6.14 million shares of Axis Bank in December 2021 to raise Rs 374 crore for the govt, and in November 2021 it had sold 3.6 million shares for Rs 221.47 crore.
About Axis Mutual Fund:
Headquarters – Mumbai, Maharashtra
MD & CEO – Chandresh Kumar Nigam
>>Read Full News

Adani Green to Acquire SB Energy India for EV of $3.5 billion

On May 19, 2021, Adani Green Energy Limited (AGEL) agreed to acquire the 100 percent stake of SB Energy Holdings Limited at an enterprise valuation(EV) of ~ $3.5 billion, the largest acquisition in the renewable energy sector in India.
Key points:
i.Through this acquisition, AGEL will achieve a total renewable capacity of 24.3 GW and an operating renewable capacity of 4.9 GW, and it demonstrates AGEL’s intent to become the world’s largest solar player by 2025 and thereafter the world’s largest renewable company by 2030.
ii.SB Energy is a joint venture between Japan-based SoftBank Group Corp (80%) and Bharti Group (20%) and houses 4,954 MW of renewable assets in India.
About SB Energy Holdings Limited:
Establishment – 2011
Representative Director & CEO – Shigeki Miwa
About Adani Green Energy Limited (AGEL): 
Headquarters – Ahmedabad, Gujarat
MD & CEO – Vneet S. Jaain

Kotak Mahindra Bank Buys 46.7% stake in Kotak Mahindra Pension FundOn 17^th May 2021,Private lender Kotak Mahindra Bank acquired 1.3 crore shares i.e., around 46.7% equity of Kotak Mahindra Pension Fund Limited(KMPFL) from Kotak Mahindra Asset Management Company Limited(KMAMC).
Cost of acquisition:
The cost of acquisition is Rs 12.71 crore and the acquisition price has been arrived at on the basis of a valuation conducted by an independent chartered accountant firm.
Authorisation:
The acquisition was approved by the Reserve Bank of India (RBI) and the Pension Fund Regulatory and Development Authority (PFRDA).
Share Percentage:

• With this stake purchase, Kotak Mahindra Bank has 51 percent stake in KMPFL.
• And KMAMC has a 49 percent stake in KMPFL.

KMPFL has been appointed as a Pension Fund Manager by PFRDA for managing funds under the National Pension System.
Note:
Kotak Mahindra Pension Fund was a direct subsidiary of Kotak Mahindra Asset Management and after the deal it’s now a direct subsidiary of Kotak Mahindra Bank.
About Kotak Mahindra Bank:
Managing Director(MD) and Chief Executive Officer(CEO): Uday Kotak
Headquarters: Mumbai, Maharashtra
Tagline: Let’s Make Money Simple, Ab Kona Kona Kotak

SCIENCE & TECHNOLOGY

China launches ‘Haiyang-2D’ Ocean Observation Satellite into OrbitChina launched ‘Haiyang-2D (HY-2D)’ Ocean Observation Satellite into the Orbit. It was launched by a Long March-4B rocket from the Jiuquan Satellite Launch Centre, Gobi Desert, China.

• HY-2D will form a constellation with the already launched HY-2B & HY-2C satellites, which will support China’s early warning and prediction of marine disasters.
• The satellite has been developed by the China Academy of Space Technology.
• It was the 370th launch by the Long March rocket series.
• China’s rover ‘Zhurong’ landed in Mars in May, 2021. It became the 2nd country after the US to have a rover on Mars.

About China National Space Administration (CNSA)
Administrator – Zhang Kejian
Headquarters – Beijing, China
>>Read Full News

SPORTS

Indian rowers Arjun Lal and Arvind Singh qualifies for Tokyo Olympics 2020

Indian rowers Arjun Lal Jat and Arvind Singh  have qualified for the Tokyo Olympics 2020  in men’s lightweight double sculls event after finishing second in the final race of the Asia/Oceania Continental Qualifying Regatta in Tokyo, Japan and will be the only Indian rowers in Tokyo Olympics.

OBITUARY

Veteran BJP Leader & Former Union Minister Chaman Lal Gupta Passed Away Chaman Lal Gupta, a veteran Bharatiya Janata Party(BJP) leader and former Union Minister passed away at his residence in Gandhi Nagar, Jammu, Jammu and Kashmir(J&K).
He was born on 13th April 1934 in Kaleeth, Jammu, J&K
About Chaman Lal Gupta:
i.Chaman Lal Gupta served as a member of the J&K legislative Assembly in 1972 and between 2008 and 2014.
ii.He was elected to the Lok Sabha from the Udhampur constituency(Jammu) in 1996, 1998 and 1999.
iii.He has authored 3 Hindi books titled “Sansad mein Jammu Kashmir”, “Sansad mein dedh varsh” and “Mere Prayaas”.
Stint as Union Minister:

• He has served as the Union Minister of State(MoS) for Civil Aviation – 13th October 1999 to 1st September 2001
• He has served as the MoS for Food Processing Industries – 1st September 2001 to 30th June 2002
• He has served as the MoS for Defence – 1st July 2002 to 2004.

Renowned Tamil Writer, Folklorist, Sahitya Akademi Awardee Ki. Rajanarayanan Passed AwayOn May 17, 2021,Eminent Tamil writer, novelist, and Sahitya Akademi awardee Rayangala Shri Krishna Raja Narayana Perumal Ramanujam Naicker foundly known as Ki Rajanarayanan passed away at the age of 97 due to age related health-issues in Puducherry. He was born on 16 September 1923 in Kovilpatti,TamilNadu.
About Ki. Rajanarayanan:
i.Ki. Rajanarayanan was honored with Sahitya Academy award in 1991 for his novel ‘Gopalla Purathu Makkal’.
ii.He is famously called by his Tamil initials as KiRa, he was known as the pioneer of ‘Karisal Literature’.
iii.He also served as a member of Sahitya Akademi General Council and advisory board from 1998 to 2002.
iv.He also worked as a Professor of folklore at the Pondicherry University.
v.He had recorded and written 200 folk stories, which were published as Naattuppura Kadhai Kalanjiyam.
vi.He was an eminent writer of short stories, novels, folklores and essays and has published over 30 books. His work includes novels Gopalla Gramam, Karisal Kaatu Kaduthaasi and Andaman Naicker

STATE NEWS

Telangana Signs MoU with NHA for Implementing Ayushman BharatTelangana Medical and Health department has signed a memorandum of understanding(MoU)with the National Health Authority (NHA) for the implementation of Ayushman Bharat (Pradhan Mantri Jan Arogya Yojana(PMJAY)) scheme in the State.
Key Points:
i.The guidelines for the implementation of the Ayushman Bharat Scheme in the State was also issued by the state Medical and health department and will be implemented by the Aarogyasri Health Care Trust.
ii.The health insurance coverage is for Rs 5 lakh for beneficiaries.
About Telangana:
Capital:Hyderabad
Governor:Tamilisai Soundararajan
Chief Minister: K. Chandrashekar Rao
>>Read Full News

‘Chhattisgarh Mahtari Dular Yojna’ : To Fund Education Of Children Orphaned Due To COVID-19.The Chhattisgarh government Launched a new scheme named ‘Chhattisgarh Mahtari Dular Yojna’ through which the government will pay for the education for those children who lost their parents due to the Covid-19 pandemic.
Eligibility:
i.Children studying in both government and private schools will be entitled to this stipend.
ii.The state government will also fund the education of the children who have lost the  person who earns money to support their family to Covid-19.
Fund Provided:
Under the scheme, a stipend of Rs 500 per month will be paid to such children from Classes 1 to 8 and Rs 1,000 per month from Classes 9 to 12.
Also these children will be given priority admission and no fee will be charged from them  for admission to Swami Atmanand English Medium Schools started in the state.
Other states to offer free education are Madhya Pradesh and Jammu and Kashmir.
About Chhattisgarh:
Capital:Raipur
Governor:Anusuiya Uikey
Chief Minister:Bhupesh Baghel

Jharkhand CM Hemant Soren launched ‘Amrit Vahini’ App and portal, and a Chatboat Hemant Soren Chief Minister of Jharkhand launched the  ‘Amrit Vahini’ App and Website which enables people to book a hospital bed online. He also launched a “Chatboat App” which can provide all the information related to coronavirus.
Features:
‘Amrit Vahini’ App:
Through the Amrit Vahini’ App, the government of Jharkhand will provide better facilities for people with coronavirus infection.
The reservation of a bed made by a person will be kept reserved for the next 2 hours.
Chatboat App:
The information related to coronaviruses such as prescribed medicines, recommended diet and free consultation with expert doctors.
Through the chatboat the people can send their names on Whatsapp number 85955-24447.
About Jharkhand:
Zoological Park– Jawaharlal Nehru Biological Park, Tata Steel Zoological Park
Lakes– Ranchi Lake, Burudih Lake, Dimna Lake, Hudco Lake

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