Current Affairs 26 & 27 December 2021

We are here for you to provide the important Recent and Latest Current Affairs 26 & 27 December 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

Central govt. sets up 2 Sub-Committees to lower Crop Insurance Premium under PMFBYThe Central government has appointed 2 sub-committees with separate groups of experts comprising officials from Centre, key crop-producing states and top executives of public sector insurance companies to lower crop insurance premium under Pradhan Mantri Fasal Bima Yojana (PMFBY).

• Objective: The committee was formed to suggest suitable working models with cost-benefit analysis to lower crop insurance premium and technology in crop yield estimation under the flagship PMFBY.
• The sub-committees will submit their report by January 10, 2022, to the working group which was constituted in September, 2021, headed by PMFBY CEO (Chief Executive Officer)(currently Ritesh Chauhan) to examine alternate risk management mechanisms for rationalising the premiums.

About the two sub-committee:
i.1st Committee: It is a ten-member committee under scientist KR Manjunath of Indian Space Research Organization (ISRO).
ii.The committee will explore the feasibility of adoption of various technology-based approaches developed through pilot projects by ISRO and its arm National Remote Sensing Centre (NRSC) as well as Mahalanobis National Crop Forecast Centre (MNCFC) of the Union Agriculture Ministry.
iii.2nd Committee: This committee is headed by Saurabh Mishra, joint secretary in Ministry of Finance. It will conduct cost benefit analysis of all ‘accepted models – agriculture insurance pool, cup and cap 80-110 percent and co-insurance 20-80 percent’ as well as any profit-loss sharing model.
About Pradhan Mantri Fasal Bima Yojana (PMFBY):
PMFBY scheme was launched in India by Ministry of Agriculture & Farmers welfare, New Delhi from Kharif 2016 season onwards.
>> Read Full News

MoRTH Launches 1st ‘Intelligent Transport System’ on 6 Lane Eastern Peripheral Expressway at Ghaziabad, UPOn 23^rd December 2021 Union Minister for Road Transport and Highways (MoRTH) Nitin Gadkari launched the first Intelligent Transport System (ITS) on the six-lane Eastern Peripheral Expressway at Dasna, Ghaziabad, Uttar Pradesh.

• The ITS minimizes traffic problems, increases efficiency in infrastructure usage, enriching users with prior information about traffic, reducing travel time and enhancing the safety and comfort of commuters.

Key Points:
i.The Union Minister also laid the foundation stone of National Highway projects of 240 km worth Rs 9,119 crore in Meerut and Muzaffarnagar in Uttar Pradesh.

• The 6 National Highway projects in Meerut cost around Rs 8,364 crore, which moves farmers towards economic upliftment.
• The 3 National Highway projects worth Rs 755 crore in Muzaffarnagar, focusses on increased use of technology and research for the welfare of farmers.

ii.He also inspected the Rail Over Bridge Project at Chipiyana, Gautam Buddha Nagar.
About Ministry of Road Transport and Highways (MoRTH):
Union Minister – Nitin Jairam Gadkari (Constituency – Nagpur, Maharashtra)
Minister of State – Vijay Kumar Singh (Constituency – Ghaziabad, Uttarpradesh)

INTERNATIONAL AFFAIRS

IEA Report: Coal Demand Forecasted to Grow by 6% in 2021; way off to Achieve Net ZeroAs per the report of the International Energy Agency (IEA) titled Coal 2021 Analysis and forecast to 2024, overall global coal demand is expected to grow by 6 percent in 2021 with coal consumption to 7,906 million tonnes (Mt) and is set to rise to 8,025 Mt in 2022, the highest level ever.
Key Points of the Report:
i.The global coal power generation is expected to increase by 9 percent in 2021 to 10,350 terawatt-hours (TWh).
ii.CO2 emissions from coal in 2024 are expected to be well over 3 gigatonnes higher than in the Net Zero Emissions by 2050 Scenario.
iii.Due to Covid-19 total coal consumption declined 4.4 percent in 2020, to 7,456 Mt and the Coal use for power production also dropped by 4.2 percent.
iv.According to IEA, coal power generation is set to increase by almost 20 percent in 2021 in the United States and the European Union (but that would not be enough to take it above 2019 levels).
v.In 2020, China’s share in global coal consumption increased to 53 percent. As China and India (12 percent) together account for roughly two-thirds of world coal use.
Note – China is the world’s largest consumer, producer and Importer of coal followed by India being the 2nd largest producer, consumer and importer.
About International Energy Agency (IEA):
Establishment – 1974
Headquarters – Paris, France
Executive Director – Fatih Birol
>> Read Full News

BANKING & FINANCE

SIDBI Signs MoU to Develop MSME Ecosystem in West BengalOn 24^th December 2021, the Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with the government of West Bengal to develop the Micro Small and Medium Enterprises (MSME) ecosystem in the state.

• According to the MoU, a project management unit (PMU) of SIDBI will work with the state government.

Key Functions:
PMU will study the existing framework and guide stakeholders for the cluster, sector-specific products, interventions for MSMEs by placing an expert agency of SIDBI with the state MSME department.
About Small Industries Development Bank of India (SIDBI):
Chairman & MD – Sivasubramanian Ramann
Establishment – April 1990
Headquarters – Lucknow, Uttarpradesh
Operated by – Department of Financial Services, Ministry of finance.

PNB Entered into 4th Co-lending Arrangement with Lendingkart to Improve Credit Flow to Unserved The Punjab National Bank (PNB) has entered into the 4th co-lending arrangement with Lendingkart Finance Limited (Lendingkart) as a part of its efforts to align with the reforms of the Indian Government reform agenda and to improve the credit flow to the unserved and underserved sector of the economy.

• The partnership under this co-lending arrangement will result in significant disbursement under Priority Sector Lending.

Ashok Kumar Gupta, General Manager (MSME) of PNB signed the co-lending agreement in the presence of Surendra Kumar Dixit, Chief General Manager of PNB and Arun Sharma, General Manager(Agriculture) of PNB.
About the Co-Lending Arrangement:
i.This arrangement will focus on digital underwriting and cash flow based lending.
ii.The beneficiaries will be the Micro, Small & Medium Enterprises(MSME) borrowers who will get funds at an affordable rate with greater outreach with a lower cost of funds from banks and the greater reach of the Non-Banking Financial Company (NBFC).
Note:
i.According to the Reserve Bank of India’s Co-Lending Model(CLM), Bank and NBFC will co-lend the customers in the ratio of 80% and 20% respectively.
ii.The NBFC will act as the single point of interface for the customers and will service the loan throughout its tenure.
About Punjab National Bank(PNB):
MD & CEO–  S. S. Mallikarjuna Rao
Headquarters- New Delhi, Delhi
Tagline– The Name You Can Bank Upon

ECONOMY & BUSINESS

GOI declares Soya Meal as an Essential Commodity up to June 2022 with Stock Limit On December 23, 2021, the Central Government has notified the order under the Essential Commodities Act to declare ‘Soya Meal’ as an Essential Commodities up to 30th June 2022 by amending the Schedule of the Essential Commodities Act, 1955, to cool down the domestic prices of Soya Meal.

• The decision would empower the Union Government and all States/Union Territories to regulate production, distribution etc. of Soya Meal and to smoothen the sale and availability of it in the market.
• As India’s Soya meal is produced from non-genetically modified sources it is in high demand in the world markets.

Key Points:
i.The Centre has also imposed stock holding limits on soya meal, which is used as a raw material in the poultry feed industry, till June 30, 2022, to curb hoarding and control price rise.
ii.The decision of the government will stop unfair market practices and enhance the availability for consumers like Poultry farms and Cattle feed manufacturers.
iii.Holding Limit: 

• Soya meal processors, millers and plant owners could hold a maximum stock of 90 days of production and they are required to declare the storage location.
• Government-registered trading companies, traders and private chaupals are allowed hold a maximum stock of 160 tonnes with a defined and declared storage location.
• The stock limits have been set in consultation with the Department of Animal Husbandry and Dairying.

iv.Department of Animal Husbandry and Dairying under the newly created Ministry of Fisheries, Animal Husbandry & Dairying, will monitor the data on the portal regularly for any follow-up action.
Note –According to the Soybean Processors Association of India (SOPA), Farmers cannot be forced to sell soybean at MSP (minimum support price) as desired by the poultry industry. Soybean farmers have the right to get remunerative prices like poultry farmers.
About Ministry of Fisheries, Animal Husbandry and Dairying:
Union Minister – Parshottam Rupala (Constituency – Gujarat)
Minister of State –  Sanjeev Kumar Balyan(Constituency – Muzaffarnagar, Uttar Pradesh), L. Murugan (Constituency – Madhya Pradesh)

AWARDS & RECOGNITIONS   

CII Dx award for ‘Most Innovative Best Practice’ 2021 received by HDFC Bank 

HDFC Bank, an Indian banking and financial service company has selected under ‘Most Innovative Best Practice’ at the coveted Confederation of Indian Industry (CII) Digital Transformation Award 2021 or CII DX Award 2021.

• It will be recognized for the HDFC’s efforts in world class financial inclusion in Village Level Executive (VLE) centres along with Government of India’s Common Service Centres (CSC).

Gist About CII Dx Award:-
The key objective of Award is to recognize excellence in Digital Transformation in India and facilitate sharing of information on Best Practices & Technologies.
About Confederation of Indian Industry (CII)
President,CII (2021-22) – Mr. T V Narendran ,CEO & MD of Tata Steel Ltd.,
Director General, CII – Mr. Chandrajit Banerjee
Headquarters – New Delhi

SPORTS

WADA restores accreditation to India’s National Dope Testing Laboratory On 23rd December 2021, The World Anti-Doping Agency (WADA) restored the accreditation of National Dope Testing Laboratory (NDTL) in accordance with the International Standard for Laboratories (ISL), which had been suspended since August 2019.
Key Points:
i.This reinstatement allows NDTL to resume its anti-doping activities, including the analyses of urine and blood samples.
ii.This accreditation helps to boost India ‘s efforts to achieve the highest global standards of excellence in sport.
Note – Recently ‘The National Anti-Doping Bill 2021’ was introduced in the winter session of the Parliament.
Background:
i.In February 2020, when the six-month suspension period elapsed, some outstanding non-conformities resulted in a second six-month suspension which began on 17 July 2020.
Note-The National Dope Testing Laboratory, New Delhi is functioning under the Ministry of Youth Affairs and Sports.

World Anti-Doping Agency (WADA):
Formation: November 10, 1999
Headquarter: Montreal, Canada
President – Witold Banka

Indian Skier – Aanchal Thakur wins Bronze at FIS Alpine Skiing Competition

Ace Indian skier Aanchal Thakur has won a Bronze medal at the FIS Alpine Skiing Competition in Montenegro.

• Aanchal has become the first Indian Ski athlete to win two medals at international level.
• She is also the 1st Indian to win a medal in the International Ski competition, when she won Bronze in 2018.

Key Points:
i.Aanchal finished 3rd with an overall timing of 1:54:30 with Georgia Epiphaniou winning Silver medal.
ii.She has previously won a bronze medal in the 2018 FIS Alpine 3200 Cup held in Turkey.
About FIS Alpine World Ski Championships:
i.The FIS Alpine World Ski Championships is an alpine skiing competition held biennially organized by the International Ski Federation (FIS).
ii.The championship was inaugurated in 1931
About International Ski Federation / Fédération internationale de ski (FIS):
Headquarters – Oberhofen, Switzerland
Founded – 1924, Chamonix, France (during the 1st Winter Olympics)
President – Johan Eliasch

Pankaj Advani wins 2021 National Billiards TitleIn December 2021,  Pankaj Advani defended his National Billiards Title— to win his 11th one—after defeating his PSPB teammate Dhruv Sitwala in a 5-2 game final that was held in Bhopal, Madhya Pradesh (MP).

• He represented the Petroleum Sports Promotion Board (PSPB) team in the  National Billiards Championship.
• The 88th National Billiards and Snooker Championships 2021, held at Bhopal, MP. It was organised by Billiards and Snooker Federation of India (BSFI), the governing body for cue sports in India.

About Pankaj Advani:
i.Pankaj Arjan Advani is an Indian billiards and snooker player, who was the only cueist to win the Asian and World Championships in all formats of billiards and snooker.
ii.List of Championships –
He has won the IBSF World Billiards Championship – 15 times, The World Team Billiards Championship – 1 time, among others
iii.Awards – Arjuna Award in 2004, Major Dhyan Chand Khel Ratna Award in 2006, Padma Shri in 2009 and Padma Bhushan in 2018
About Billiards and Snooker Federation of India:
Established – 1926
Head Office – Bangalore, Karnataka

BOOKS & AUTHORS

Economist Sanju Verma Authored a New Book Titled “The Modi Gambit: Decoding Modi 2.0”Sanju Verma, an economist and the BJP National Spokesperson, has authored a new book titled “The Modi Gambit: Decoding Modi 2.0”. The book features the various achievement in the last 2 years of Prime Minister(PM) Narendra Modi’s 2nd term as PM of India.

• The book is published by Gaurav Book Centre Pvt Ltd. 

About the book:
i.The foreword of the book is written by Padma Shri Mohandas Pai and the Afterword is written by ace journalist, Anand Narasimhan, Managing Editor at CNN News 18.
ii.The book divided into three parts –

• The first part will be Modi’s economic policies, and other reforms undertaken during his second term in office,
• The second part of the book is an exhaustive analysis of the Prime Minister’s fight against the COVID-19 pandemic, and
• The third and final part of book traces the meteoric rise of Brand Modi.

About Sanju Verma:
i.Sanju Verma, an economist from Mumbai, Maharashtra who has worked with various security and shares broking firms.
ii.She has served as the managing director and Chief Executive Officer(CEO) of the Centrum Broking Pvt Ltd.
iii.She was appointed as the Spokesperson of the BJP from Mumbai in 2015.
Other book: Truth & Dare – The Modi Dynamic (2019)

IMPORTANT DAYS

Good Governance Day 2021 – December 25 The Good Governance Day is annually observed across India on 25th December to commemorate the birth anniversary of Bharat Ratna Atal Bihari Vajpayee, the former Prime Minister(PM) of India, who was born on 25th December 1924 in Gwalior, Gwalior State (now Madhya Pradesh), British India.

• 25th December 2021, the ‘8th Good Governance Day’ marks the 97th birth anniversary of former Prime Minister Atal Bihari Vajpayee.

Background:
i.In 2014, The Government led by Prime Minister Narendra Modi declared the 25th December of every year, the birth anniversary of Atal Bihari Vajpayee, as Good Governance Day.
ii.The first ever Good Governance Day was observed on 25th December 2014.
Good Governance Week – 20 to 25th December 2021
The Good Governance Week was celebrated from 20th to 25th December 2021 as a part of the Azadi Ka Amrit Mahotsav celebration with the motto of taking good administration down to the villages.

• The theme of Good Governance Week is “Prashasan Gaon Ki Aur”

About  Department of Administrative Reforms and Public Grievances (DARPG):
DARPG is one of the 3 departments under the Ministry of Personnel, Public Grievances and Pensions
The Ministry is under the overall charge of the Prime Minister assisted by a Minister of State.
Union Minister– Narendra Modi(Prime Minister)(Constituency- Varanasi, Uttar Pradesh)
Minister of State– Dr Jitendra Singh(Constituency- Udhampur, Jammu and Kashmir)
Headquarters– New Delhi, Delhi.
>> Read Full News

JAG Department Celebrated 38th Corps Day – 21st December 2021

The Judge Advocate General(JAG) or JAG Department, the legal wing of the Indian Army celebrated its 38th Corps Day on 21st December 2021.  JAG Corps Day is annually celebrated on 21st December to mark the day on which the Bill for Army Act was introduced in the Parliament (21st December 1949).

• The post of Judge Advocate General(JAG) in India is held by a Major General, who is the legal and Judicial Chief of the Army.
• JAG is the legal advisor to the Chief of the Army Staff in the matters of Military, Martial and International Laws.

Current JAG(army)– Major General Praveen Kumar

STATE NEWS

HOP Electric Signs Pact with Rajasthan to Set up EV Manufacturing Unit in JaipurOn 24th December 2021, HOP Electric Mobility, an Electric Vehicle (EV) maker, signed a preliminary pact with the Rajasthan Government to set up an EV Manufacturing plant in Jaipur, Rajasthan.

• The deal to set up a production unit in Jaipur was signed at Rajasthan Pavilion in November 2021 during the Dubai Expo 2021 and is expected to build a unit that can produce approximately 1.8 lakh vehicles per annum.

Aim – To strengthen the non-polluting transportation system (e-mobility) with the help of futuristic technology and efficient Research & Development (R&D).
Features:
i.Under the MoU, the incentives to Rajasthan includes capital subsidy, additional MSME, electricity duty and stamp duty exemptions, reimbursement on State Goods and Services Tax (SGST), employment incentives, and under-investment promotions.
ii.HOP Electric already has a manufacturing unit in Jaipur with the capability of producing 7,500 vehicles per month, which could be expanded up to 15,000 vehicles per month and generate over 3,000 direct employment opportunities.
Key Highlights:
i.The company plans to invest around Rs. 100 Crore in the EV segment, depending upon the support provided by the states.
ii.The company is also expanding to states such as Gujarat, Telangana, Punjab, Uttar Pradesh, Madhya Pradesh, West Bengal, Bihar, and Jharkhand with a plan to further expand at least 120 dealerships across India.
New Project of HOP Electric:
HOP Electric Mobility is planning for a new project on the first electric vehicle segment, named the Hop Energy Network.

• It will have built-in battery swapping with charging stations where the customer could replace their discharged battery with a fully charged battery in just 30 seconds.

About HOP Electric Mobility:
i.HOP Electric Mobility offers smart and sustainable transportation solutions, which has two market-ready products, HOP Leo and HOP Lyf.
ii.It also produces a broad range of electric two-wheelers and battery swapping technology. 
Founder & CEO – Ketan Mehta
Commenced operation – January 2021
Headquarters – Jaipur, Rajasthan

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