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NATIONAL AFFAIRS
Rajnath Singh launches DISC 5.0 under iDEX-DIO
- The Challenge has been launched by Ministry of Defence in partnership with Atal Innovation Mission (AIM).
- It will leverage India’s startup ecosystem to develop Defense technologies, Equipment design & Manufacturing capabilities
- Under DISC 5.0, 35 challenges were made open of which13 from Armed forces & 22 from Defense Public Sector Undertakings (DPSUs) to startups, Innovators & MSMEs to provide their innovative ideas on technologies related to the defense sector.
- The challenges are in the areas of Situational awareness, Augmented Reality, Artificial Intelligence, Aircraft-trainer, Non-lethal devices, 5G network, Under-water domain awareness, Drone SWARMS and Data Capturing.
- DISC 1.0 was launched in 2018 and in the previous 4 Editions, more than 80 startups, MSMEs & Individual innovators have emerged as winners in over 40 technological areas.
Innovations for Defense Excellence-Defense Innovation Organisation(iDEX-DIO)
It was launched in 2018 by the Department of Defense Production(DDP), MoD to achieve self-reliance and foster innovation & technology development in defence and aerospace sectors.
- It is funded and managed by DIO, a not for profit company as per section 8 of the companies Act 2013 founded by DPSUs- Hindustan Aeronautics Limited (HAL) & Bharat Electronics Limited (BEL)
- iDEX is used as a procurement avenue under Defence Acquisition Procedure (DAP-2020), earmarking INR 1,000 crore for domestic procurement through iDEX for financial year 2021-2022
About Ministry of Defense (MoD)
Union Minister – Rajnath Singh (Lucknow, Uttar Pradesh)
Minister of State (MoS) – Ajay Bhatt (Nainital-Udhamsingh Nagar , Uttarakhand)
SC allows Women to appear in NDA exam for the 1st time in 65 years
- Women candidates will be permitted to sit for the NDA exam which is Rescheduled on November 14th, 2021 and their admission into the NDA will be subject to final orders of SC.
- Students between age group of 16 to 19 and those who are in Class 12 or above can apply for the NDA
- NDA examination is conducted by the Union Public Services Commission (UPSC)
About National Defense Academy (NDA)
i.It was Established in December 1954 in Khadakwasla, Pune, Maharashtra .
ii.NDA is the joint defense service training institute of the Indian Armed forces where the cadets of the Indian Army, the Indian Navy & the Indian Air force train together.
iii.It is the 1st tri-service academy in the world.
About Supreme Court of India
Chief Justice of India (CJI) – N V Ramana
Headquarters – New Delhi
President RamNath Kovind approved the Constitution (127th Amendment) Bill, 2021
- The Constitution 127th Amendment Bill was passed by the Parliament on 11th August, 2021 in the Monsoon Session.
- It has amended articles 338B , 342-A and 366(26C) of the Indian Constitution
Article 338B – It deals with the structure, duties and powers of the National Commission for Backward Classes (NCBC)
Article 342-A – It empowers the President to notify a particular caste as SEBC and also enables the parliament to change the list
Article 366(26C) – gives the definition for SEBCs
About National Commission For Backward Classes (NCBC)
It is a constitutional body under Article 338B of the Constitution of India under the Ministry of Social Justice & Empowerment
Chairman – Bhagwan Lal Sahni
Headquarters – New delhi
>>Read Full News
Delhi-Chandigarh Highway Becomes India’s 1st EV-Friendly Highway
Dr Mahendra Nath Pandey, Union Minister of Heavy Industries inaugurated the state of the art electric vehicle (EV) charging station in (Karnal Lake Resort)Karnal, Haryana, installed by Bharat Heavy Electricals Limited (BHEL).
- The EV charging station is located at the midpoint of Delhi-Chandigarh Highway, makes the Delhi Chandigarh Highway as India’s first EV-friendly Highway.
- The charging station has been established by BHEL under the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles in India(FAME-I) scheme of the Ministry of Heavy Industries(MHI)
INTERNATIONAL AFFAIRS
EAM Jaishankar Chaired UNSC Open debate on Peacekeeping & Technology ; launches UNITE AWARE platform
UNSC adopted the Presidential statement (PRST) & Resolution on Peacekeeping
i.The 15 member body, UNSC unanimously adopted the Presidential Statement on Peacekeeping & Technology, given by EAM Jaishankar.
ii.UNSC adopted Resolution 2589 unanimously, Security Council calls on Governments to protect peacekeepers, Requests creation of online database cataloguing attacks.
India & UN launches The UNITE AWARE platform
i.A unique technology platform aimed at enhancing security & safety of peacekeepers.
ii.It helps to increase situational awareness and provides real time terrain-related information to peacekeepers.
iii.India has allocated funds of USD 1.64 Million for the roll-out of this Platform.
India, UN signs MoU in strengthening peacekeeping Missions
The Government of India has signed Memorandum of Understanding (MoU) with United nations (UN) in support of – ’Partnership for technology in Peacekeeping‘ initiative and to UN C4ISR- UN Command, Control, Communication, Computers, Surveillance and Reconnaissance Academy for Peace Operations (UNCAP) based in Entebbe, Uganda.
About United Nations (UN):
Establishment– 1945
Secretary General– Antonio Manuel de Oliveira Guterres
Members– 193 (India became its member on October 30, 1945)
Secretariat– New York, United States (US)
>>Read Full News
BANKING & FINANCE
ADB, India Sign $500 Million Loan Agreement to Expand Metro Rail Network in Bengaluru
Highlights-
- Additional $2 million technical assistance is being provided by the ADB to help state government formulate Urban Development Projects
- The grant will be utilised by Bangalore Metro Rail Corporation Limited(BMRCL)
About Asian Development Bank
Establishment: 1966
Headquarters: Mandaluyong, Manila, Philippines
Member: 68 countries (Including India)
President of ADB : Masatsugu Asakawa
About Bangalore Metro Rail Corporation Limited(BMRCL)
Managing Director: Anjum Parwez( IAS Officer, 1994 batch)
>>Read Full News
ASK Investment Managers launches India’s 1st AIF, ‘ASK Emerging Opportunities Fund’
- This fund is a close-ended category-III long-only AIF. It will have a flexi cap portfolio with a midcap bias and will invest in listed Indian equities.
- Category III AIFs employ different trading strategies like long-short, arbitrage, fixed income and derivatives trading.
Key Points:
i.The another unique feature of ASK Emerging Opportunities Fund is the entire paperless and hassle-free process of opening accounts and documentation.
- This is also the first of its kind in the nine-year-old AIF industry.
ii.The term of the scheme is 7 years with 2 years of lock-in from the final closing.
iii.This AIF will target investments from high net-worth individuals (HNIs) and Ultra HNI (UHNIs) for consistent wealth creation over the long term.
iv.This fund aims to invest in beneficiaries of varied sectors including speciality chemicals, footwear, diagnostics, niche digital technologies, etc as the nation is targeting lowering imports and boosting exports under ‘Atmanirbhar Bharat’.
About ASK Investment Managers Ltd (ASK IM):
It is a leading asset and wealth management company.
Executive Director– Bharat Shah
Headquarter– Mumbai, Maharashtra
EXIM Bank provides around USD 210 mn soft loan to Guinea
- It includes USD 170 mn Line of Credit (LoC) for strengthening the Grand Conakry-Horizon 2040 drinking water supply project in Guinea
- Loan of USD 20.51 mn for the construction and upgradation of regional hospitals in Kankan and Nzerekore
- Loc worth USD 20.22 mn for financing two solar projects in the country which includes supply of electricity for public universities and health facilities.
- The agreement under the LoC is Effective from August 11, 2021.
What is a soft loan?
i.A loan with no interest or below market rate of interest is known as a soft loan.
ii.Soft loans have lenient terms like extended grace periods.
About Export and Import (EXIM) Bank of India:
Establishment– 1982
Deputy Managing Director (MD)– Harsha Bangari, N. Ramesh
Headquarters– Mumbai, Maharashtra
Regulated By– Reserve Bank of India
About Guinea
President – Alpha Conde
Capital – Conakry
Currency – Guinean Franc
>>Read Full News
ECONOMY & BUSINESS
Ind-Ra cuts GDP forecast for India to 9.4% for FY22
- The key reason behind this descent is the vaccination of the adult population (18+) which will not be covered entirely by December 31, 2021.
- As per the forecast, if the entire adult population gets vaccinated by December 31, 2021 then GDP is estimated 9.6% y-o-y (Year-on-Year) in FY22, otherwise it may slip to 9.1%.
FY22 GDP will be 10.9% lower than the trend value:
Though several high frequency indicators are showing a faster rebound than expected including surprise turnaround of exports volume and growth Q1FY22, also, kharif sowing is indicating a significant pick-up with the revival of south-west monsoon but still FY22 GDP will be 10.9% lower than the trend value.
Key Points:
i.For the vaccination of more than 88% of the adult population, 5.2 million daily doses would have to be administered August 18, 2021 onwards and to administer single doses to the rest by 31 March 2022.
ii.As per National Accounts Data, in four demand-side growth drivers viz. private final consumption expenditure (PFCE), government final consumption expenditure (GFCE), gross fixed capital formation (GFCF) and exports, only GFCE has shown a decent growth, averaging 5.7% during FY19-FY21.
- PFCE, GFCF and exports during this period grew 1.3%, 1.5% and 1.5%, respectively.
- PFCE is the largest component accounting for 58.6% of the GDP in FY21, followed by GFCF accounting 27.1%, exports 18.1% and GFCE 12.5%.
iii.Ind-Ra expects exports growth of goods and services to grow at 16.0% y-o-y in FY22.
iv.GFCE is projected to grow at 7.5% in FY22.
v.Investments as measured by GFCF to grow 9.1% y-o-y in FY22.
India’s GDP Projection by other Agencies:
i.PHD Chamber of Commerce and Industry (PHDCCI) projected GDP growth at 10.25% for FY22.
ii.Acuite Ratings retained its 10% GDP forecast for FY22
India Ratings and Research (Ind-Ra):
It is a 100% owned subsidiary of the Fitch Group, and is recognized by the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI) and National Housing Bank (NHB).
Chairman, Managing Director & CEO– Rohit Karan Sawhney
Headquarters– Mumbai, Maharashtra
Intel India Collaborated with SINE-IIT Bombay To Launch “Plugin Alliance” for the Promotion of Industry 4.0
Objective of the Alliance-
To cover all aspects of Industry 4.0 transformatory revolution in the country with participation of the members from different fields and promote India as a brand.
Highlights
- The representation of the members from large, small and medium enterprises, start ups, system integrators, incubators, government and other industrial institutions.
- Focus area– to provide impetus to Industry 4.0 startups for alliance members.
- It also includes collaboration with global organizations of the world.
The Alliance
i.The Plugin Accelerator program which is a part of Plugin Alliance will be made available to members.
ii.The alliance currently has 53 members including 23 startups.
Technology focused-
Artificial Intelligence(AI), Machine Vision, Augmented Reality/Virtual Reality(AR/VR), Robotics, Cyber Security, 5G, Advanced Driver Assistance System (ADAS) & Mobility.
APPOINTMENTS & RESIGNATIONS
Shanti Lal Jain Appointed as the MD and CEO of Indian Bank 
- He will replace Padmaja Chunduru whose term as MD & CEO of Indian bank will end on 31st August 2021.
- He is currently serving as the Executive Director of the Bank of Baroda(BoB).
About the appointment:
i.The appointment can be extended up to 2 years or till the age of superannuation or until further orders.
ii.The Bank Board Bureau(BBB) has recommended Shanti Lal Jain for the role of MD & CEO of Indian Bank and the recommendation was accepted by the Department of Financial Services, Ministry of Finance.
About Shanti Lal Jain:
i.Shanti Lal Jain, a chartered accountant, has worked with Allahabad Bank as Chief Financial Officer, Chief Risk Officer and General Manager.
ii.Prior to joining Allahabad bank, he worked in various industries.
About Indian Bank:
MD & CEO– Padmaja Chunduru (Till Shanti Lal Jain Appointment)
Headquarters– Chennai, Tamil Nadu
Established in 1907
Tagline– Your Own Bank
CVC re-appointed TM Bhasin as Chairman of Advisory Board for Banking and Financial Frauds
- The reappointment followed the term completion of ABBFF on August 20, 2021 which was constituted in 2019 to examine bank frauds of over Rs 50 crore and recommend relevant action.
About ABBFF:
The CVC, in consultation with the Reserve Bank of India (RBI) constituted the ABBFF comprising of four members for an initial term of two years. Then, ABBFF, after due process of consultation with CVC, CBI (Central Bureau of Investigation), RBI, and Department of Financial Services, framed the standard operating procedure (SOP) for general managers and above accountable in the fraud cases of Rs 50 crore and more, referred to it by the public sector banks (PSBs).
- Now, in the new term of ABBFF, its scope has been expanded to comprehensively examine the staff accountability for all levels of the officials or whole-time directors (WTD) in PSBs, in the fraud cases of Rs 50 crore and above.
- ABBFF is headquartered in New Delhi.
Members of ABBFF:
- Madhusudan Prasad, former secretary of Ministry of Urban Development*
- Devendra Kumar Pathak, former director-general of BSF (Border Security Force)
- David Rasquinha, former managing director of EXIM Bank (Export-Import Bank of India).
*The government has merged the urban development and housing and urban poverty alleviation ministries in 2017 which are now collectively known as the Ministry of Housing and Urban Affairs (MoHUA).
About TM Bhasin:
i.He served as vigilance commissioner in the CVC for four years from June 2015 to June 2019.
ii.Prior to this, he was Chairman and Managing Director (CMD) of Chennai-based Indian Bank for more than five years.
About Central Vigilance Commission (CVC):
Establishment– 1964 (Statutory Status was given in 1998)
Central Vigilance Commissioner– Suresh N Patel
Headquarter– New Delhi
Nitin Chugh MD & CEO of Ujjivan Small Finance Bank Steps Down
- With this resignation, He will also cease to be the Director of Ujjivan Small Finance Bank with effect from 30th September 2021.
- His tenure as the director of Ujjivan bank is co-terminus with his tenure as Managing Director and CEO of the bank.
About Nitin Chugh:
i.Nitin Chugh has been serving as the MD and CEO of the Ujjivan Small Finance Bank since December 2019.
ii.Previously he has served as the group head for digital banking of HDFC Bank.
iii.He has also worked for Standard Chartered Bank, Xerox, HCL Technologies.
About Ujjivan Small Finance Bank:
MD &CEO– Nitin Chugh
Headquarters– Bengaluru, Karnataka
Tagline– Build a Better Life
Ismail Sabri Yaakob Appointed as Prime Minister of Malaysia
He is the 3rd Prime Minister of Malaysia since the 2018 elections.
- He is a member of the United Malays National Organisation (UMNO) party.
- Ismail Sabri Yaakob is supported by 114 members out of 222 members.
About Ismail Sabri Yaakob:
i.Ismail Sabri Yaakob served as the 13th Deputy Prime Minister of Malaysia from July 2021 to August 2021 and he is the shortest-serving Deputy Prime Minister of Malaysia.
ii.He has been serving as a member of the parliament since 2004.
iii.He has also served as the cabinet minister and held various portfolios like Minister of Rural and Regional Development, Agriculture and Agro-based Industry and Domestic Trade, Cooperatives and Consumerism and Youth and Sports between 2008 and 2018.
About Malaysia:
Capital– Kuala Lumpur
Currency– Malaysian Ringgit
SCIENCE & TECHNOLOGY
DRDO’s DLJ & HEMRL developed Advanced Chaff Technology for IAF jets
ii.This technology will safeguard IAF fighter jets against hostile radar threats.
iii.IAF will induct this technology after successful user trials.
About Defence Research & Development Organization (DRDO):
Establishment– 1958
It is an amalgamation of the then Technical Development Establishment (TDEs) of the Indian Army and the Directorate of Technical Development & Production (DTDP) with the Defence Science Organisation (DSO).
Chairman– Dr G Satheesh Reddy
Headquarters– New Delhi
>>Read Full News
ENVIRONMENT
Amolops adicola: New Species of Cascade Frog Discovered from Arunachal Pradesh
The species is named Amolops adicola(Adi Cascade Frog) after the Adi Hills, the home of Adi tribes, an indigenous people from the Himalayan region of Arunachal Pradesh.
- The details of the discovery are published as “Phylogenetic position of the poorly known montane cascade frog Amolops monticola (Ranidae) and description of a new closely related species from Northeast India” in the Journal of Natural History.
About Amolops adicola:
i.Amolops adicola belonging to the genus Amolops, is a brown colour frog of size ranging from 4 cm to 7 cm.
ii.The new species was identified based on its external morphology, DNA and distinct calling pattern.
iii.The genus amops is one of the largest groups of ranid frogs (family ranidae), which has around 73 known species located across the Northeast and North India, Nepal, Bhutan, China and Malay peninsula.
Note:
The study resolved the taxonomic confusion around the identification of another cascade frog species.
Brachystelma tumakurens new plant found in Tumakura, Karnataka
i.Brachystelma tumakurens, a new species of tuberous flowering plant discovered in Tumakura district of Karnataka has been named after the district.
ii.Brachystelma tumakurens, from a tuber, belongs to the apocynaceae family, a family of flowering plants.
iii.The findings were published in the RHEEDEA Journal of the Indian Association for Angiosperm Taxonomy.
Note:
Brachystelma R.Br. is the second largest genus in the tribe Ceropegieae with over 116 species distributed in the old-world tropics.
OBITUARY
Dronacharya & Padma Shri Awardee Athlete Coach O. M Nambiar Passed Away
- He was one of the first Dronacharya Award Winners and Padma Shri awardee of the year 2021
- He also served in the Indian Air Force for 15 years then later retired in 1970 as a sergeant and trained many great athletes.
- He coached PT Usha, who is the first Indian sportswoman to enter the Olympics final.She participated in 400m hurdles in 1984 Olympics & she also won 4 gold medals in 1986 Asian Games.
IMPORTANT DAYS
Sadbhavana Diwas 2021 – August 20
- The Sabhavana Diwas literally means “Harmony Day”.
- The Sadbhavana Diwas 2021 marks the 77th birth anniversary of Rajiv Gandhi. He was born on 20th August 1944.
His birth anniversary is also celebrated as Rajiv Gandhi Akshay Urja Diwas.
- The All India Congress Committee (AICC) of the Indian National Congress(INC) instituted the Rajiv Gandhi Sadbhavana Award in 1992, the year after his assassination.
World Mosquito Day 2021 – August 20
- The day also aims to create awareness about the cause and prevention of Malaria.
- The annual celebration of World Mosquito Day has been organised by the London School of Hygiene and Tropical Medicine since the 1930s.
Background:
Sir Ronald Ross in his discovery declared the 20th August of every year as the World Mosquitoes.
>>Read Full News
STATE NEWS
Haryana’s Hisar Airport Named As Maharaja Agrasen International Airport
Highlights
- Hisar Airport became 1st Director General of Civil Aviation (DGCA)- licensed public aerodrome of the state in the year 2018.
- The airport is situated near the city Agroha, which used to be the kingdom of the great king Maharaja Agrasen.
- The phase-1 of the aerodrome project was completed in 2018, now phase-11 of project has started, which is to make an airstrip from existing 4000feet to 10000 feet.
About Haryana
Governor: Bandaru Dattatreya
Zoological Park: Surinder Singh Memorial Mini Zoo (Pipli,Kurukshetra), Mini Zoo(Rohtak), Rohtak Zoo
Wildlife sanctuary: Nahar Wildlife Sanctuary,Abubshahar Wildlife Sanctuary, Bhindawas Wildlife Sanctuary
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Current Affairs Today (AffairsCloud Today)
| S.no | Current Affairs 21 August 2021 |
|---|---|
| 1 | Raksha Mantri Shri Rajnath Singh launches Defence India Startup Challenge 5.0 |
| 2 | Supreme Court allows women to appear for NDA exam |
| 3 | President Ramnath Kovind gives assent to Constitution (105th Amendment) Act 2021 |
| 4 | Delhi-Chandigarh is India’s first EV friendly highway |
| 5 | External affairs minister Jaishankar visited New York, US to chair India’s Presidency Initiatives in the UN Security Council (16-19 August 2021) |
| 6 | Indian- ADB signed a loan agreement to Develop Metro Rail Network in Bengaluru |
| 7 | ASK Investment Managers launches India’s 1st AIF, ‘ASK Emerging Opportunities Fund’ |
| 8 | Exim Bank extends soft loans worth USD 210 mn to Guinea |
| 9 | Ind-Ra cuts GDP forecast for India to 9.4% for FY22 |
| 10 | SINE-IIT Bombay and Intel signed Partnership and from Plugin Alliance for the Promotion of Industry 4.0 |
| 11 | Shanti Lal Jain Appointed as the MD and CEO of Indian Bank |
| 12 | CVC re-appointed TM Bhasin as Chairman of Advisory Board for Banking Frauds |
| 13 | Nitin Chugh MD & CEO of Ujjivan Small Finance Bank Steps Down |
| 14 | Malaysia’s King appoints Ismail Sabri as Prime Minister |
| 15 | DRDO’s DLJ & HEMRL developed Advanced Chaff Technology for IAF jets |
| 16 | Amolops adicola: New Species of Cascade Frog Discovered from Arunachal Pradesh |
| 17 | The legendary Athlete and PT Usha’s Coach O. M Nambiar Passed Away |
| 18 | Sadbhavana Diwas 2021 – August 20 |
| 19 | World Mosquito Day 2021 – August 20 |
| 20 | Haryana’s Hisar Airport Named As Maharaja Agrasen International Airport |
