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Current Affairs 23 & 24 May 2021

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Current Affairs 23 & 24 May 2021 EnglishWe are here for you to provide the important Recent and Latest Current Affairs 23 & 24 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 virtually hosts the 7th meeting of BRICS Astronomy Working Group (BAWG)India hosted the seventh meeting of BRICSIndia virtually hosted the 7th BRICS Astronomy Working Group (BAWG) meeting of Brazil, Russia, India, China, and South Africa at Inter-University Centre for Astronomy and Astrophysics (IUCAA), Pune (Maharashtra)  during May 19-20, 2021.  The meeting was held under the Science, Technology, and Innovation track of the BRICS 2021 calendar.

  • From the Indian side, IUCAA, Pune, and Department of Science and Technology (DST), Government of India coordinated the meeting.
  • S. K. Varshney, Scientist G & Head International Cooperation presented India’s (DST) perspectives on highlighting research activities and research infrastructure created by India.
  • Researchers, Academicians, astronomers, and Scientific Institutions from all 5 BRICS countries participated in the meeting.
  • BAWG provides a platform for BRICS member countries to collaborate in the field of astronomy.

Key Points
i.The participants recommended the networking of existing Telescopes in BRICS countries and creating a regional Data Network. 
ii.They also discussed the future course of research in the area such as building an intelligent telescope and data network.
About BRICS
Establishment – 2009
Members – Brazil, Russia, India, China, and South Africa
2021 Chair – India
>>Read Full News

Finance Ministry notifies new rules for increasing FDI in Insurance Sector to 74% From 49%Finance Ministry notifies rules for increased FDI (1)The Ministry of Finance  notified the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021 which increases the Foreign Direct Investment (FDI) limit in the Insurance sector to 74% from the existing 49%.

  • Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021 has amended the Indian Insurance Companies (Foreign Investment) Rules, 2015.
  • Parliament had passed the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021 in March, 2021.
  • Note – FDI in the insurance sector was increased from 26 per cent to 49 per cent in 2015.

i.According to the new norms, Majority of board members, Key Management Persons (KMP) need to be resident Indian citizens, as should be at least one of the 3 top positions – Chairperson of the board, the MD and CEO.
ii.Any Indian Insurance company with FDI exceeding 49%,

  • It should have 50% of its board of directors as independent directors, unless the chairperson of its board is an independent director, in this case at least one-third of the board shall comprise independent directors.
  • Such firms will have to retain 50% of their net profits in General Reserves, if they propose to pay dividends on equity shares in any financial year when the prescribed solvency margin is not met.
  • Note – Current regulations require a solvency ratio of 150%.

iii.The new norms are expected to help local private insurers grow fast and expand their presence across India.

  • Insurance penetration in India stands at 3.7% of the GDP compared to the Global average of 6.31%.
  • Currently, the growth in the life insurance sector slowed to 11-12% from 15-20% in the Fiscal 2020.

Note- FDI in the insurance sector was increased from 26 per cent to 49 per cent in 2015.

About Ministry of Finance
Union Minister – Nirmala Sitharaman (Rajya Sabha – Karnataka)
Minister of State (MoS) – Anurag Singh Thakur (Lok Sabha – Hamirpur, Himachal Pradesh)

Finance Minister Nirmala Sitharaman Released the ‘CCI Journal on Competition Law and Policy’ on 12th Founding Day of CCISitharaman released the ‘CCI Journal on Competition Law and Policy’Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs released the ‘CCI Journal on Competition Law and Policy’ at the virtual event organised to commemorate the 12th founding day of the Competition Commission of India(CCI). CCI was established under the Competition Act, 2002, on 20th May , 2009
She also released the Competition Advocacy Booklets of CCI, translated into Bengali, Marathi and Tamil.
Key People:

  • Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs participated in the virtual event as a Guest of Honour.
  • Rajesh Verma, Secretary, Ministry of Corporate Affairs, Ashok Kumar Gupta, Chairperson of CCI & S. Ghosh Dastidar, Secretary of CCI participated in the event.

Event of 12th Founding Day of CCI:
The commemoration featured a workshop on Competition Law
Session 1: Antitrust Enforcement – Section 3 and 4 of the Act and its journey till date
Session 2: Merger Regime in India – Our journey in the last ten years and way forward
About Competition Commission of India(CCI):
Director General– Dr. Atul Verma
Headquarters– New Delhi

NCPCR Launched ‘SAMVEDNA’ to Provide Psycho-Social Mental Support for Children During Covid-19 

National Commission for Protection of Child Rights (NCPCR) under the aegis of Ministry of Women and Child Development has been providing Tele-Counselling to children affected during COVID 19 Pandemic through SAMVEDNA -Toll-Free Helpline(1800-121-2830).

  • SAMVEDNA stands for Sensitizing Action on Mental Health Vulnerability through Emotional Development and Necessary Acceptance.
  • The main objective is to provide psychological first-aid and emotional support to children affected during COVID-19 Pandemic.

INTERNATIONAL AFFAIRS

Tata Communications launches CSR Project S.H.E. for empowering Indian WomenTata Communications launches 'School of Hope and Empowerment'During the 2021 United Nations Educational, Scientific and Cultural Organization (UNESCO) World Conference on Education for Sustainable Development held virtually from Berlin (Germany) between May 17-19, 2021, Tata Communications launched their Corporate Social Responsibility (CSR) project – ‘School of Hope and Empowerment (S.H.E)’ for empowering Indian women.

  • Objective –  To inspire at least a million women from small towns to realise their dreams of becoming entrepreneurs.
  • The initiative has been developed by Tata Communications in conjunction with The Better India, an effect driven Indian digital media platform.
  • It will offer business grants, mentorship, digital training, and other key resources for women to realize their entrepreneurial dreams

UNESCO – Environmental Education to be part of Curriculum by 2025
During the World Conference on Education for Sustainable Development, UNESCO has set a new target to make environmental education a core curriculum component in all  countries by 2025.
About Tata Communications
MD &  CEO – Amur Swaminathan Lakshminarayanan (Lakshmi)
Headquarters – Mumbai, Maharashtra
About United Nations Educational, Scientific and Cultural Organization (UNESCO)
Director-General – Audrey Azoulay
Headquarters – Paris, France
>>Read Full News

IMF proposes USD 50 Billion plan to vaccinate everyone by 2022IMF proposes $50 billion plan to vaccinate (1)The International Monetary Fund (IMF) has put forth an USD 50 Billion proposal to end the COVID-19 Pandemic, it has set a target of vaccinating at least 40% of the world’s population by end of 2021 & remaining 60% by first half of 2022.

  • The proposal was drafted by IMF Chief Economist Gita Gopinath and Staff Economist Ruchir Agarwal.
  • It states that vaccinating the entire global population would inject the equivalent of USD 9 trillion into the global economy by 2025 due to fast resumption of economic activity.
  • The proposal was elaborated by the IMF during the Global Health Summit 2021 hosted by Italy (G20 2021 Presidency) & European Commission, held virtually from Rome, Italy on May 21, 2021.

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

Harsh Vardhan Chairs 33rd Conference of Health Ministers of Commonwealth Countries33rd Conference of Health Ministers of Commonwealth CountriesThe 33rd virtual meeting of Health Ministers of Commonwealth countries was chaired by India’s Union Minister for Health and Family Welfare, Harsh Vardhan.

  • The theme of the meeting: “Commonwealth Response to COVID-19: Ensuring Equitable Access to Vaccines and Building Resilience for Health Systems and Emergencies”.
  • Patricia Scotland, Secretary-General of the Commonwealth, Tedros Adhanom Ghebreyesus, Director-General of WHO and Health Ministers of member states were present at the meeting.

Review about the Initiatives against COVID-19:
i.HarshVardhan mentioned India’s intent to vaccinate the country’s entire adult population by the end of 2021.
iii.Mentioned about COVAX, the vaccine pillar of Access to COVID-19 Tools (ACT) Accelerator, which aims to deliver at least 2 billion vaccines by the end of 2021 and covering 20 percent of the most vulnerable population in about 92 Low and Middle-Income countries.
iii.He pointed out that black fungus (Mucormycosis) was notified as an epidemic by all the states and UTs of India.
About Ministry of Health and Family Welfare(MoHFW):
Union Minister – Dr Harsh Vardhan (Constituency: Chandni Chowk, NCT of Delhi)
Minister of State – Ashwini Kumar Choubey (Constituency: Buxar, Bihar)
>>Read Full News

BANKING & FINANCE

RBI Board Approved Transfer of Rs 99,122 crore as Surplus to GovtRBI Board approves transfer of Rs 99,122 crOn May 21, 2021, the board of Reserve Bank of India(RBI) approved the transfer of Rs 99,122 crore as surplus to the Central government for the accounting period of 9 months from July 2020 to March 2021 under the 589th virtual meeting of the Central Board of Directors of the RBI.

  • The current surplus fund transfer is 50 percent higher than Rs 57,128 crore, the transfer approved in the accounting year 2019-2020.
  • The board also decided to maintain the Contingency Risk Buffer at 5.50% in line with recommendations of the Bimal Jalan Committee report.
  • The meeting was held under the chairmanship of Shaktikanta Das, RBI governor.

Other members of the meeting:
i.Deputy Governors –  Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
ii.Other Directors of the Central Board – N. Chandrasekaran, Satish K. Marathe, S. Gurumurthy, Revathy Iyer and Prof. Sachin Chaturvedi
iii.Secretary, Department of Financial Services – Debasish Panda
iv.Secretary, Department of Economic Affairs also attended the meeting –  Ajay Seth
Review under the meeting: 
i.The Board discussed the RBI’s work during the transition period of 9 months (July 2020-March 2021) and approved the Annual report and accounts of the RBI for the same period.
ii.The current economic situation of India, prevailing domestic and global challenges, and recent policy measures that are taken by the RBI to reduce the impact of the second wave of COVID-19 over the economy were also reviewed under the meeting.
Note – RBI’s accounting year changed to April-March (earlier July-June)
Recent Related News:
On April 7, 2021, RBI has enhanced the loan limits under Priority Sector Lending(PSL) for banks’ lending against Negotiable Warehouse Receipts (NWRs) / electronic Negotiable Warehouse Receipts (eNWRs) from ₹50 lakhs to ₹75 lakhs per borrower.
About Reserve Bank of India (RBI):
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
>>Read Full News

SEBI Doubled the Overall limit for Overseas Investment by AIFs, VCFs to $1,500 millionSebi allows AIFs and VCFs to invest up to $1-5 bnOn May 21, 2021, In consultation with the Reserve Bank of India(RBI), Securities and Exchange Board of India (SEBI) doubled the overall limit of the investment in overseas markets by alternative investment funds(AIFs), and Venture Capital Funds(VCFs) registered under SEBI (VCFs) Regulations, 1996, from $750 million to $1,500 million (~Rs10,000 crore).
Background:
In 2015, the SEBI had allowed the overseas investment by AIFs and VCFs to the extent of $500 million i.e. up to 25 percent of their investable corpus and later it was increased to $750 million in 2018.
Other regulations on Overseas Investment(unchanged):
i.AIFs/ VCFs should report the utilization of the overseas limits within 5 working days of such utilization on SEBI’s portal.
ii.If an AIF / VCF has not utilized the granted overseas limit within a period of 6 months from the date of SEBI approval (validity period) then that should be reported within 2 working days after expiry of the validity period.
iii.If an AIF/ VCF wishes to surrender the overseas limit at any point of time within the validity period, then that should be reported within 2 working days from the date of the decision to surrender the limit.
About Securities and Exchange Board of India (SEBI):
Establishment – On April 12, 1992, in accordance with the SEBI Act, 1992.
Headquarters – Mumbai, Maharashtra
Chairman – Ajay Tyagi
>>Read Full News

ESFBL Became the 1st SFB to Offer Online Account Opening for NRIs

Equitas Small Finance Bank Ltd(ESFBL) became the first Small Finance Bank(SFB) to offer the online process of account opening for Non-Resident Indians(NRIs). It also became the first SFB to have Virtual Relationship Managers(VRM) based on time zones.
Objective: Aimed to increase the opportunities for ESFBL’s NRI account holders to manage their investments, deposits and the income earned in India.
Online Account Opening:
i.The online process of account opening for NRIs could be done through a smartphone or computer (connected to the Internet).
ii.Around 90 days were provided by the bank for the NRI applicants to courier their documents after opening an account. 
Key points:
i.The complete banking process will be supported by a team of VRMs based on the time zone of the customer.
ii.To make a seamless transfer of overseas earnings to India, ESFBL offers online and offline remittance facilities to its NRI customers at the best exchange rates.
iii.Equitas Net Banking will enable investment in mutual funds and Portfolio Management Services for the NRI account holders.
iv.For NRI accounts, ESFBL offers Interest rates of 6.8 percent per annum on Fixed Deposits(FD) and 7 percent per annum on Savings Bank Account (SB) (Balances between Rs 1 lakh to Rs 2 Crores).
About Equitas Small Finance Bank Ltd(ESFBL):
MD and CEO– Vasudevan Pathangi Narasimhan (P N)
Headquarters– Chennai, Tamil Nadu
Commenced the business of SFB – September 5, 2016
Tagline – It’s Fun Banking

RBI Imposed Monetary Penalty of Rs 1 Crore on City Union Bank Limited, Tamilnad Mercantile Bank

Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on City Union Bank Limited and Tamilnad Mercantile Bank for non-compliance with certain provisions of RBI such as –  Lending to Micro, Small & Medium Enterprises (MSME) Sector Directions, 2017, the circulars on Educational Loan Scheme and Credit Flow to Agriculture Agricultural Loans Waiver of Margin/Security Requirements, and Cyber Security Framework for Banks.
i.RBI imposed Rs 90 lakh penalty on Nutan Nagarik Sahakari Bank, Ahmedabad for non-compliance with directions of Interest Rate on Deposits, Know Your Customer (KYC) and 
ii.Rs 10 lakh penalty on Daimler Financial Services India Private Limited impose by RBI for non-compliance with RBI Commercial Paper Directions 2017 and Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (RBI) Directions, 2016.

AWARDS & RECOGNITIONS        

Hockey India Won the Etienne Glichitch Award by FIHHockey India wins Etienne Glichitch Award (1)Hockey India won the Etienne Glichitch Award in recognition of Hockey India’s contribution towards the growth and development of Hockey.
Various individuals, teams and organisations received the Fédération Internationale de Hockey(FIH) Honorary Awards at the virtual conference organised by the FIH as a part of its 47th Congress.
About Etienne Glichitch Award:
i.The Award is given every two years by the Executive Board on the recommendation of the Awards Panel.
ii.The award is presented once every two years in conjunction with the Ordinary Congress.
About Hockey India:
President- Gyanendro Ningombam
Secretary General– Rajinder Singh
Headquarters– New Delhi
>>Read Full News

APPOINTMENTS & RESIGNATIONS

Arvind Kumar to Become Next MD of Chennai Petroleum CorporationPESB picks Arvind Kumar as next MDThe Public Enterprises Selection Board (PESB) has recommended Arvind Kumar as Managing Director(MD) of Chennai Petroleum Corporation Ltd (CPCL), a unit of Indian Oil Corporation Ltd.

  • Arvind Kumar is currently working as an executive director at Indian Oil Corporation.
  • Currently, CPCL’s Director (Finance) Rajeev Ailawadi is holding the additional charge of CPCL’s MD post.

About Chennai Petroleum Corporation Limited (CPCL):
i.Chennai Petroleum Corporation Limited (CPCL) a group company of Indian Oil is an Indian state-owned oil and gas corporation headquartered in Chennai.
ii.The company was formed as a joint venture in 1965 between the government, AMOCO and National Iranian Oil Company (NIOC)
iii.It  is one of the largest refineries in South India, with an installed refining capacity of 10.5 million tonnes (mt).

Indian-American Neera Tanden Appointed as Senior Adviser To US President Joe Biden

The U.S administration has announced that Indian-American Neera Tanden is set to join the White House as a senior adviser to President Joe Biden.
i.She is currently working as the president and CEO of a progressive think-tank, Center for American Progress (CAP).
ii.Neera Tanden previously served as a senior adviser for health reforms at the US Department of Health and Human Services.
iii.The two main tasks given to her are,

  • Launching a review of the US Digital Service, and
  • Planning contingencies that could result from the Supreme Court’s consideration of Republican lawsuits seeking to strike down the Affordable Care Act.

          ACQUISITIONS & MERGERS        

LIC Hiked its Stake in Union Bank to over 5%LIC hikes stake in UBI to over 5%On May 21, 2021, The Life Insurance Corporation of India (LIC) acquired around a 2 percent stake in the state-run Union Bank of India(UBI) and hiked its stake hold in UBI to 5.06 percent.

  • Earlier, the LIC held a 3.09 percent stake in UBI, representing 19,79,23,251 equity shares of the bank, now it was increased to 5.06 percent (34,57,64,764 shares).
  • UBI had closed its Qualified Institutions Placement (QIP), in which it raised a total of Rs 1,447.17 crore.

About Life Insurance Corporation of India (LIC):
Establishment -1956
Headquarters– Mumbai, Maharashtra
Chairman – M R Kumar
About Union Bank of India(UBI):
Establishment – November 11, 1919
Headquarters– Mumbai, Maharashtra
MD & CEO – Shri Rajkiran Rai G.

SCIENCE & TECHNOLOGY

Indian Navy’s 1st Destroyer ‘INS Rajput’ decommissioned after 41 years of ServiceIndian Navy first destroyer INS RajputIndian Navy’s 1st destroyer INS Rajput was decommissioned at Naval Dockyard, Visakhapatnam, Andhra Pradesh after 41 years of service (commissioned on May 4, 1980). It was the 1st Indian Navy ship to be associated with an Indian Army Regiment – ‘Rajput regiment’, and the 1st ship to be fitted with anti-ship supersonic cruise missile ‘Brahmos’ in 2005.

  • The destroyer was built by the Union of Soviet Socialist Republics (USSR) under her Russian name ‘Nadezhny’ meaning ‘hope’ at  61 Communards Shipyard in Nikolaev, present-day Ukraine.
  • It  was commissioned at Poti, Georgia (erstwhile USSR) by I K Gujral, the then Indian Ambassador to the USSR;  Captain Gulab Mohanlal Hiranandani was the 1st Commanding Officer of INS Rajput.
  • With the motto of ‘Raj Karega Rajput’ it was the lead ship of the Kashin-class destroyers.
  • It was decommissioned in the presence of Vice Admiral Ajendra Bahadur Singh, Flag Officer Commanding-in-Chief Eastern Naval Command, who was the Chief Guest of the occasion.

About Indian Navy
Chief of Naval Staff (CNS) – Admiral Karambir Singh
Integrated Headquarters of Ministry of Defence (Navy) – New Delhi
>>Read Full News

Narendra Singh Tomar launches NMMS app & Area Officer Monitoring AppNarendra Singh Tomar launches NMMS app and Area officer monitoring AppUnion Minister for Rural Development Narendra Singh Tomar virtually launched the National Mobile Monitoring Software app (NMMS) & Area officer monitoring App for monitoring the MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme) worksites.

  • The apps will help in bringing transparency, accountability in the execution of Rural Development programmes.
  • NMMS App facilitates taking of real time attendance of workers at MGNREGS worksites along with geotagged photographs.
  • The Area Officer Monitoring App will help Supervisory officials to record their findings online along with time stamped and geo-coordinate  tagged photographs. 

Key Points
i.NMMS app will help in increasing the citizen oversight of MGNREGS and will  enable fast processing of payments to the workers.
ii.Area Officer Monitoring App will help in analysis of findings for better programme implementation.

  • It will be used for monitoring schemes of the Department of Rural Development such as MGNREGS, Pradhan Mantri Awaas Yojana – Gramin(PMAY-G), and Pradhan Mantri Gram Sadak Yojana (PMGSY).

About Ministry of Rural Development
Union Minister – Narendra Singh Tomar (Morena, Madhya Pradesh)
Minister of State – Sadhvi Niranjan Jyoti (Fatehpur, Uttar Pradesh)
>>Read Full News

SPORTS

Cricket:Ireland and England Fast-Bowler Boyd Rankin Retires from International Cricket  Boyd Rankin retires from international cricketFormer Ireland and England fast bowler Boyd Rankin announced his retirement from international cricket ending an 18 year long cricket career.
About Boyd Rankin:

i.Boyd Rankin is the only cricketer who have played for two countries in all three formats of the game.
ii.He is one of only 15 players in the history of cricket to represent two countries in Test matches
iii.He made his Ireland debut in 2003 and played last for the country in a T20 against Afghanistan in Greater Noida in 2020.
iv.He debuted for England against New Zealand in a T20 match in 2013.He made his Test debut in an Ashes Test against Australia in 2014,while playing for England.
v.He also had a successful 15-year career in English county cricket where he played for Warwickshire County Cricket Club for 11 years.

English Golfer Richard Bland Won Betfred British Masters 2021; Indian Golfer Shubhankar Sharma tied 34th 

English professional golfer Richard Bland won the Betfred British Masters 2021 hosted by Danny Willett.  He won his first European Tour victory defeating Guido Migliozzi of Italy.
Indian golfer Shubhankar Sharma ended tied 34th, he was the only Indian to make the cut among the 4 participants(Ajeetesh Sandhu, SSP Chawrasia and Gaganjeet Bhullar).

OBITUARY

O P Bhardwaj :Indian Boxing’s First Dronacharya Awardee Coach Passed AwayIndian boxing’s first Dronacharya awardee coach O P Bhardwaj diesOn 21st May 2021,India’s first Dronacharya awardee coach in boxing, Om Prakash Bhardwaj(O P Bhardwaj) passed away after battling prolonged illness and age-related ailments in New Delhi.
About O P Bhardwaj:
i.In 1985, O P Bhardwaj was awarded the Dronacharya Award, India’s highest award in the field of coaching of sports and athletics.
ii.He was national coach from 1968 to 1989. Under his coaching , Indian boxers won medals at the Asian Games, the Commonwealth Games and the South Asian Games.
iii.He was the founder of the Boxing Coaching Department at the National Institute of Sports, Patiala and served as chief coach from 1975 to 1988.
iv.He also served as a national selector.

Noted Environmentalist and Padma Vibhushan Awardee Sunderlal Bahuguna Passed AwayEnvironmentalist Sunderlal Bahuguna passes awayWell-known environmentalist,Gandhian and Padma Vibhushan Awardee Sunderlal Bahuguna passed away due to COVID-19 related complications in Rishikesh,Uttarakhand. He was born on 9 January 1927 in Maroda,Uttarakhand.
About Sunderlal Bahuguna:
i.In 2009, Sunderlal Bahuguna was awarded Padma Vibhushan by the government of India for his contribution to environment conservation.
ii.In 1981 he was awarded Padma Shri  by the government of India, but he refused it.
iii.He played an important role in the Chipko Movement and the Anti-Tehri Dam movement.
iv.He created the Chipko movement ‘s slogan “Ecology is the permanent economy.”
v.He was also awarded the Right Livelihood Award in 1987 for Chipko Movement.

IMPORTANT DAYS

International Day for Biological Diversity 2021 – May 22International Day for Biological Diversity 2021The United Nations(UN)’s International Day for Biological Diversity is annually observed across the globe on 22nd May to create awareness of biodiversity issues and provide a better understanding of the importance of biodiversity as a global asset of high value to the future generation.
The theme of the International Day for Biological Diversity 2021 is “We’re part of the solution”.
Background:
i.The United Nations General Assembly adopted the resolution 49/119 on 19th  December 1994 and proclaimed the 29th December as the International Day for Biological Diversity.
29th December marks the date on which the Convention on the biological diversity came into force.
ii.In 2001, the UNGA adopted the resolution A/RES/55/201 and proclaimed the 22nd May of every year as the International Day for Biological Diversity.
iii.Starting from 2002, the International Day for Biological Diversity was observed on 22nd May.
>>Read Full News

Anti Terrorism Day 2021 – May 21Anti Terrorism Day 2021Anti Terrorism Day is annually observed across India on 21st May to wean away youth from terrorism and to highlight the suffering of the common public and its effect on the national interest. The day also marks the death anniversary of former prime minister Rajiv Gandhi. 
21st May 2021 marks the 30th death anniversary of Rajiv Gandhi.
Background:
i.On 21st May 1991, former Indian Prime Minister Rajiv Gandhi was assassinated in  Sriperumbudur, Tamil Nadu by Terrorist.
ii.The government led by VP Singh decided to observe the 21st May of every year as the Anti Terrorism day. The official announcement of the day was made after the assassination of Rajiv Gandhi.
>>Read Full News

Endangered Species Day 2021 – May 21Endangered Species Day 2021The Endangered Species Day is annually observed across the globe on the third Friday of May to recognise the animals across the globe which are in need of protection and conservation efforts.
i.The Endangered Species Day 2021 was observed on 21st May 2021.

  • The Endangered Species Day 2020 was observed on 15th May 2020.
  • The Endangered Species Day 2022 will be observed on 20th May 2022.

ii.The 21st May 2021 marks the celebration of 16th Endangered Species Day. 
Background:
i.The Endangered Species Day was created by a United States(US) Senate resolution in 2006 to educate people on the need to conserve the Wild animals across the globe.
ii.The first Endangered Species Day was observed in 2006.
>>Read Full News

STATE NEWS

Haryana became first state to reimburse GST on Covid-related donationsHaryana first state to reimburse GST on Covid-related donationsHaryana became the first state in the country to reimburse Goods and services tax (GST) paid on Covid-related donations made to the state and state-run organisations.  This will be applicable till June 30.
Objective:
To encourage efforts by corporations, NGOs and individuals in facilitating donations of oxygen concentrators, Covid-19 vaccines, Remdesivir injections, etc.
Key points:
i.The 15 items eligible for reimbursement include oxygen concentrator, oxygen filling systems, oxygen storage tanks, oxygen generators, vaccine, Remdesivir, ventilators, etc.
ii.The reimbursement can be claimed on the basis of a certificate issued by the Health and Family Welfare Department. 
iii.The scheme is applicable to certain notified items donated free of cost by corporates, NGOs and individuals to the Haryana government, and hospitals, institutions run by it. 
iv.For such donations, GST( including the state, central GST portions i.e.CGST, SGST or IGST)already paid on purchase of specified items will be reimbursed.
v.Earlier this month, the central government had also granted IGST exemption on imports of Covid-19 relief material being donated from abroad till June 30, subject to certain conditions.
Note:
Gujarat has also announced reimbursement of IGST levied as part of customs on import of Covid related supplies.This waiver is valid till July 31,2021.

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Current Affairs Today (AffairsCloud Today)

S.no Current Affairs 23 & 24 May 2021
1 India virtually hosts the 7th meeting of BRICS Astronomy Working Group (BAWG)
2 Finance Ministry notifies new rules for increasing FDI in Insurance Sector to 74%
3 Finance Minister Nirmala Sitharaman Released the ‘CCI Journal on Competition Law and Policy’ on 12th Founding Day of CCI
4 SAMVEDNA – a Toll-Free Helpline to provide psycho-social mental support for Children
5 Tata Communications launches CSR Project S.H.E. for empowering Indian Women
6 IMF proposes USD 50 Billion plan to end COVID-19 by 2022
7 Harsh Vardhan Chairs 33rd Conference of Health Ministers of Commonwealth Countries
8 RBI Board Approved Transfer of Rs 99,122 crore as Surplus to Govt
9 SEBI Doubled the Overall limit for Overseas Investment by AIFs, VCFs to $1,500 million
10 ESFBL Became the 1st SFB to Offer Online Account Opening for NRIs
11 RBI Imposed Monetary Penalty of Rs 1 Crore on City Union Bank Limited, Tamilnad Mercantile Bank
12 Hockey India Won the Etienne Glichitch Award by FIH
13 Arvind Kumar to Become Next MD of Chennai Petroleum Corporation
14 Indian-American Neera Tanden Appointed as Senior Adviser To US President Joe Biden
15 LIC Hiked its Stake in Union Bank to over 5%
16 Indian Navy’s 1st Destroyer ‘INS Rajput’ decommissioned after 41 years of Service
17 Narendra Singh Tomar launches NMMS app & Area Officer Monitoring App
18 Cricket:Ireland and England Fast-Bowler Boyd Rankin Retires from International Cricket
19 English Golfer Richard Bland Won Betfred British Masters 2021; Indian Golfer Shubhankar Sharma tied 34th
20 O P Bhardwaj :Indian Boxing’s First Dronacharya Awardee Coach Passed Away
21 Noted Environmentalist and Padma Vibhushan Awardee Sunderlal Bahuguna Passed Away
22 International Day for Biological Diversity 2021 – May 22
23 Anti Terrorism Day 2021 – May 21
24 Endangered Species Day 2021 – May 21
25 Haryana became first state to reimburse GST on Covid-related donations