Current Affairs 27 March 2021

We are here for you to provide the important Recent and Latest Current Affairs 27 March 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

Indus Waters Treaty: India, Pakistan hold 116th Meeting of Permanent Indus CommissionIndia & Pakistan held the 116th Meeting of Permanent Indus Commission (PIC) under the Indus Waters Treaty (IWT) at New Delhi from March 23-24, 2021.

• The Indian side was led by Pradeep Kumar Saxena, India’s commissioner for IWT & advisors from Central Water Commission, the Central Electricity Authority and the National Hydroelectric Power Corporation.
• The Pakistan side was led by Syed Muhammad Meher Ali Shah, Pakistan’s commissioner for IWT.
• The last meeting between the two sides under IWT took place in Lahore in August, 2018.
• The meeting coincided with the Pakistan Day (Pakistan Resolution Day or Republic Day) being celebrated on March 23, 2021.

Pakistan’s Objections

During the meeting, Pakistan raised objections over the designs of 2 Hydroelectric projects in J&K – Pakal Dul Hydro Electric Project & Lower Kalnai Project.

• Pakal Dul Hydro Electric Project (1, 000 MW) is proposed on the Marusudar river, a tributary of the Chenab river, in Kishtwar district in J&K.
• Lower Kalnai project (48 MW) is proposed in Kishtwar & Doda districts over Chenab River.
• It also raised objections on the hydroelectric projects in Ladakh.
• Pakistan has also been raising objections to the construction of Hydroelectric plants such as Kishanganga (330 MW) on Kishanganga river & Ratle (850 MW) on Chenab River.

Indus Waters Treaty (IWT)

• A water-distribution treaty brokered by the World Bank between India & Pakistan. It was signed in Karachi, Pakistan in 1960 by Indian Prime Minister Jawaharlal Nehru & Pakistani President Ayub Khan
• Purpose – To use the water available in Indus River and its tributaries.
• IWT warrants two commissioners (each from two countries) to meet at least once a year, alternately in India & Pakistan.

About Pakistan:

Prime Minister – Imran Khan
Capital – Islamabad
Currency – Pakistani Rupee (PKR)

<<Read Full News>>

TBWES signed an agreement with Steinmüller Babcock Environment, Germany for Waste to Energy TechnologyThermax Babcock & Wilcox Energy Solutions Private Limited (TBWES), a wholly owned subsidiary of Thermax signed a know-how transfer and license agreement with Steinmüller Babcock Environment GmbH (SBE) Industrial Equipment supplier based in Germany, for waste to energy technology.
Pravin Karve, CEO of TBWES and Thomas Feilenreiter, Managing Director of SBE signed the agreement for the respective organisation.
Features of the agreement:
i.Under this agreement TBWES will design, engineer, manufacture and sell Municipal Solid Waste(MSW) fired waste to energy solutions using the grate and boiler technology of SBE.
ii.This collaboration with SBE will support Thermax with advanced and reliable technology.
Benefit:
This will boost the involvement of Thermax in waste to energy application and support in solving the challenges of urbanisation and deteriorating environment.
About Steinmüller Babcock Environment GmbH(SBE):
Steinmüller Babcock is a part of the Japanese company Nippon Steel Engineering Co. Ltd.
Managing Director– Thomas Feilenreiter
Headquarters–  Gummersbach, Germany

Supreme Court rules out Extension of 6-month Moratorium, waives Compound InterestOn March 23, 2021, Supreme Court (SC) Bench of Justices Ashok Bhushan, R Subhash Reddy & MR Shah rejected the further extension of six months’ period (March 1,2020 to August 31,2020) of the loan moratorium scheme issued by the Reserve Bank of India due to the COVID 19 Pandemic against a petition filed by the traders and corporate bodies/ big borrowers.

• SC also added that no Interest on Interest (Compound Interest) will be charged on borrowers during the Moratorium period irrespective of the Loan Amount and any amount collected will be refunded.
• The refund or the adjusted amount is likely to be in the range of Rs 7000 crore to Rs 8000 crore.
• The Supreme Court has also refused to waive the entire interest on the loans, which government requires a major amount of Rs 6 lakh crore.

Background

• On 27 March, 2020, RBI announced a Loan Moratorium Scheme, allowing lending institutions to grant a temporary relief to borrowers for payment of installments of term loans falling due between 1 March 2020 & 31 May 2020 due to the pandemic and consequent downturn in economic activities.
• The scheme aimed to provide borrowers more time to pay their EMIs without being classified as NPAs (Non-Performing Assets).

About Supreme Court of India:
Chief Justice – Sharad Arvind Bobde (47th CJI of India)
Location – Delhi
<<Read Full News>>

Maldives inaugurates ‘Fiyavathi Home for Vulnerable Children’ funded by IndiaOn March 24, 2021, Maldives Ministry of Gender, Family and Social Services inaugurated the renovated ‘Fiyavathi Home for Vulnerable Children’ in Hulhumale. A Cash grant of ~ 1.9 Million Maldivian Rufiyaa (MVR) (~Indian Rupee(INR) 89 Lakh) was allocated for the completion of this project.

• The main aim of the project is to create a conducive home environment for children to grow and develop.
• The ‘Fiyavathi’ home in Hulhumale houses over 110 kids.
• The 1.9 Million MVR is part of India’s total grant assistance of MVR 200 Million to the Maldives for supporting socially impactful projects.

About Maldives
President– Ibrahim Mohamed Solih
Capital– Male
Currency– Maldivian Rufiyaa
<<Read Full News>>

NIO launches project for mapping genetic diversity in Indian ocean

Council of Scientific and Industrial Research-National Institute of Oceanography (CSIR-NIO), Goa, has initiated a project for mapping the genetic diversity of organisms & the effect of micronutrients and trace metals on them in the Indian Ocean supported by the CSIR, under one of its flagship projects TraceBioMe.

• TraceBioMe envisages extensive sampling of water, sediments, planktons and various organisms in different areas.
• On March 15, 2021, A 90-day long expedition onboard research vessel RV Sindhu Sadhana with 30 scientists took off from Visakhapatnam Click here to Know more

BANKING & FINANCE

Niyo partners with Equitas SFB & Visa to launch NiyoX for millennials

Niyo, a digital banking fintech, has partnered Equitas Small Finance Bank (ESFBL) and Visa launched NiyoX, a mobile banking solution for millennials. the NiyoX offers ‘007 banking’, it comes with 0% maintenance charges, 0% commission on mutual fund investments and 7% interest on the account balance.

Objective of NiyoX – to on-board 2 million customers by the end of 2021

NiyoX features & Benefits:

• It is a 2 in 1 account i.e Savings Account + wealth account.
• It has Zero account maintenance charges. It is a Rs 10,000 balance account. But if the customer doesn’t meet the average balance requirement no charges will be levied.
• Interest rate: 3.5% upto Rs 1 lakh and 7% on incremental amounts above 1 lakh.
• Niyo is soon going to launch domestic and international stocks on the platform

Millennials’ Banking Need

• Niyo conducted a nationwide survey among 8000 millennials residing in metro and non-metro cities to understand millennial’s banking needs to post Covid-19 pandemic, especially for convenient customer support.
• It shows that 70% of Indian millennials are now inclined towards digital banking.

About Equitas Small Finance Bank Limited(ESFBL):
MD and CEO– Vasudevan Pathangi Narasimhan (P N)
Headquarters– Chennai, Tamil Nadu
Tagline– It’s Fun Banking
<<Read Full News>>

SEBI’s review over IGP framework & other issues On March 25, 2021, the Securities and Exchange Board of India(SEBI) decided to introduce many relaxations to the framework of Innovators Growth Platform (IGP) to help start-up and made some amendments to SEBI regulations such as Delisting of Equity Shares and Alternative Investment Funds.
Key points:

• Eligibility requirement for Issuers- The issuer should have 25% of pre-issue capital held by eligible investors for 2 YEARS now it is reduced to 1YEAR
• Pre-issue shareholding of IGP investors (Accredited Investor renamed as IGP investors) is 10% and now it is changed to 25% to encourage more big investors to fund start-ups.
• Open offer threshold limit to companies under IGP-list is increased to 49% from 25%
• For Migration from IGP to the main BSE/NSE platform the percentage of capital to be held by qualified institutional buyers is reduced to 50% from 75%
• Promoter/acquirer is required to disclose their intention to delist the company by making an initial public announcement and

About Securities and Exchange Board of India (SEBI):
Establishment – 1992
Headquarters – Mumbai, Maharashtra
Chairman – Ajay Tyagi
<<Read Full News>>

JICA signs 10 Billion Yen Loan agreement with TCCL for funding Clean Energy ProjectsJapan International Cooperation Agency (JICA) signed a Loan agreement for a maximum amount of 10 Billion Japanese Yen (~ INR 660 Crore) with Tata Cleantech Capital Ltd (TCCL), a Non-Banking Financial Company (NBFC) for offering loans to Indian firms focussing on Clean Energy Projects.

• The loans will be provided through the Private Sector Investment Finance Scheme of JICA and is co-financing with the Sumitomo Mitsui Banking Corporation (SMBC).
• The loan will support TCCL to reduce the impact of climate change by offering green finance, which will contribute to decreasing the emission of Green House Gas(GHG) in India.
• The agreement will help in achieving the Sustainable Development Goals 7 (Affordable and Clean Energy) & 13 (Climate Action).

About Japan International Cooperation Agency (JICA):
President – Shinichi Kitaoka
Headquarters – Tokyo, Japan
About Tata Cleantech Capital Ltd (TCCL):
Managing Director – Manish Chourasia
Headquarters – Mumbai, Maharashtra
<<Read Full News>>

YES Bank & SHEROES Launched ‘YES Essence Plus’ an Accelerator to Support Women Entrepreneursi.On 24th March 2021, Yes Bank in partnership with SHEROES, a women led social network launched “YES Essence Plus” a unique accelerator program to support the women entrepreneurs and women led startups.
ii.Over a period of 10 weeks the startups will be provided a customised training through virtual workshops conducted by experts.
iii.This will focus on developing skills like financial management, legal, fundraising, marketing and effective leadership.
About YES Bank:
MD & CEO– Prashant Kumar
Incepted in– 2004
Headquarters– Mumbai, Maharashtra
Tagline– Experience our Expertise
<<Read Full News>>

ECONOMY & BUSINESS

S&P Raised India’s GDP forecast for FY 22 to 11% from 10%

On March 25, 2021, S&P Global Ratings, the US credit rating agency, raised India’s GDP growth forecast for the financial year 2021-22(FY22) to 11% from 10% with 0.4% growth in the third quarter (Q3) of FY21 after a contraction in the consecutive quarters Q1 and Q2.
Growth Forecast about Asia-Pacific group:

• It has mentioned the emergence of a three-speed recovery pattern in Asia-Pacific and raised its growth forecast to 7.3% for 2021, from its earlier estimate of 6.8%.

Groups classified by S&P based on economic growth and recovery:

• The first group – China, New Zealand, Taiwan, and Vietnam, lead the group where activities are already above pre-pandemic levels
• Middle group – India, Australia, Japan, and Korea are in the middle group where activities should reach pre-pandemic levels in early to mid-2021.
• Laggards group – Indonesia, Malaysia, the Philippines, and Thailand seeing a delayed recovery

About S&P Global Ratings:
Headquarters– New York, U.S.
President– John Berisford
Parent– S&P Global

AWARDS & RECOGNITIONS        

HDFC Bank has adjudged the ‘India’s Best Bank for SMEs’ at the Asiamoney Best Bank Awards 2021On March 25, 2021, HDFC Bank, was adjudged the ‘India’s Best Bank for Small and Medium Enterprises(SMEs)’ at the Asiamoney Best Bank Awards 2021 of Asiamoney for the transformation of its Micro, Small and Medium Enterprises (MSMEs) business.
HDFC Bank’s Contribution towards MSMEs:

• HDFC’s advances to MSMEs as of December 31, 2020, is about Rs2.02 trillion ($28 billion) which is 38% higher than in 2019.
• It has a compound annual growth rate of 23% for the past six years, making it India’s second-largest bank for MSME lending.
• The bank’s MSME-related non-performing asset (NPA) ratio was 0.7% in December 2020, which is down from 1.33% in March 2020 and 1.16% in March 2019.
• Asiamoney Best Bank Awards 2021 is awarded by Asiamoney to identify banks that have excelled across a range of core banking activities over the past 12 months in India, Bangladesh, Myanmar, Pakistan, Sri Lanka, and Uzbekistan.

About HDFC Bank:
MD & CEO – Sashidhar Jagdishan
Establishment – 1994
Headquarters– Mumbai, Maharashtra
Tagline– We understand your world
<<Read Full News>>

Hindi Writer Prof. Sharad Pagare Honoured with Vyas Samman 2020
i.Established Hindi writer Professor Sharad Pagare from Madhya Pradesh has been chosen as the recipient of the prestigious Vyas Samman 2020 for his historic novel titled “Patliputru ki Samragi”. 
ii.The 2020 Vyas Samman is the 30th Vyas Samman presented by KK Birla Foundation.
iii.The novel – “Patliputru ki Samragi” was printed in the year 2010.
About Vyas Samman:
Vyas Samman is an annual award initiated by the KK Birla Foundation in 1991.
The award honours the outstanding work in Hindi authored by an Indian citizen published during the past 10 years.
The award consists of Rs.4 lakh cash award along with citation and a plaque.
<<Read Full News>>

ESAF SFB Awarded with ‘Great Place to Work’ by Great Place to Work Institute

On 23^rd March, 2021, ESAF Small Finance Bank (SFB), was awarded with ‘Great Place to Work’ by Great Place to Work Institute. The Award was presented after conducting a survey with the employees by the third-party global authority.The Survey recognises the high-trust and performance culture at workplaces. It shows the bank’s commitment and credibility amongst its employees.
ESAF SFB:MD & CEO – K Paul Thomas ; Headquarter – Thrissur,Kerala

Legendary singer Asha Bhosle conferred with Maharashtra Bhushan Award

A committee chaired by Chief Minister of Maharashtra, Uddhav Thackeray announced singer Asha Bhosle has been selected for the Maharashtra Bhushan award for the year 2020, Maharashtra State highest civilian award for outstanding individual achievements in their field, The award, instituted in 1996 carries a cash prize of ₹10 lakh.

APPOINTMENTS & RESIGNATIONS          

AYUSH Ministry Set Up Interdisciplinary Team chaired by H R Nagendra To Explore Potential Of Yogai.The ministry of AYUSH has set up an interdisciplinary team of experts to explore the potential of Yoga as a productivity enhancing tool for the population. The Committee is Chaired by HR Nagendra, Chancellor of Swami Vivekananda Yoga Anusandhana Samsthana (SVYASA).
ii.On 24th March 2021, the inception meeting of the committee was held over a virtual platform.
iii.Members of the committee include the representatives from AIIMS, New Delhi ; IIM Bangalore ; IIT Bombay ; and other leading Yoga institutions, the corporate sector and the Ministry of AYUSH.
iv.The expert committee will submit the preliminary recommendation by May 2021.
v.National Productivity Council, New Delhi is also supporting the study. Various institutions from the private and public sector are also associated for the study.
Ministry of AYUSH:
AYUSH – Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy
Minister Of State (Independent Charge)– Shripad Yesso Naik(Constituency : North Goa (Goa))
<<Read Full News>>

SCIENCE & TECHNOLOGY

Nirmala Sitharaman launches 2 Tech initiatives of MCA –  ‘Central Scrutiny Centre’ & IEPFA Mobile AppOn March 25, 2021, Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman virtually launched 2 Tech-enabled initiatives of the Ministry of Corporate Affairs (MCA) – Central Scrutiny Centre (CSC) & Mobile app of  IEPFA (Investor Education & Protection Fund Authority). They aim to strengthen the Prime Minister’s vision of ‘Digitally Empowered India’.
i.Central Scrutiny Centre (CSC)  – For Scrutinizing Straight Through Process (STP) Forms filed by the corporates on the MCA 21 registry.

• CSC has been established to ensure that data quality (of MCA) is uncompromised and free from flaws.

ii.IEPFA app –  It has been launched to achieve the goal of financial literacy, spreading investors’ awareness, education and protection among investors in both rural & urban areas.

• It has been developed for Citizen engagement and information dissemination for promoting awareness among investors.

About Ministry of Corporate Affairs (MCA):
Union Minister – Nirmala Sitharaman (Rajya Sabha MP representing Karnataka)
Minister of State – Anurag Singh Thakur  (Lok Sabha MP, Constituency – Hamirpur, Himachal Pradesh)
<<Read Full News>>

ENVIRONMENT

African Elephants listed under IUCN Red List as Endangered & Critically EndangeredOn 25th March 2021, The International Union for Conservation of Nature (IUCN) has listed the African Elephants: African forest elephant (Loxodonta cyclotis) as Critically Endangered and the African Savanna Elephant (Loxodonta africana) as Endangered in the IUCN Red List.
i.As a result of new genetic findings, the Afican Elephants are classified into 2 groups Forest & Savanna Elephant.
ii.Due to extreme Poaching, the population of African Forest Elephants fell by 86% in the last 31 years & African Savanna Elephants fell by 60% in the last 50 years.
Note- At present only 4,15,000 African Elephants are present.
iii.There has been a sharp decline in their population since 2008 as a result of Poaching & Illegal Tusk sales.
Note- From India, 10 mammals, 15 birds, 6 reptiles, 19 species of amphibians, 14 fishes are listed as ‘Critically Endangered’ in the IUCN Red List.
Criteria for listing under Critically Endangered Species:

• Populations have declined or will decrease, by greater than 80% over the last 10 years or three generations.
• Have a restricted geographical range.

SPORTS

India Finished 3rd in 2021 Para Shooting World Cup with 7 MedalsIndia bagged 7 medals (2 Gold, 1 Silver & 4 Bronze) and finished at 3rd Position in the 2021 World Shooting Para Sport World Cup held at Al Ain, UAE from March 15-25, 2021. Ukraine topped the table with 11 Medals (5 Gold, 5 Silver, 1 Bronze), while UAE finished Second with 5 medals (3 Gold, 2 Silver).

• They are organized by the International Paralympic Committee (IPC).
• India’s Singhraj won the Gold Medal in the P1 Men’s 10m Air Pistol SH1.
• India’s Manish Narwal clinched Gold Medal in the P4 mixed 50m Pistol SH1. He set a new World Record (WR) by finishing with 229.1 points, breaking the previous WR of Serbia’s Rastko Jokic (228.6).

India’s Medals Tally

* – SH1 events include pistols & rifles, while SH2 events are rifles only.
About International Paralympic Committee (IPC):
President – Andrew Parsons
Headquarters – Bonn, Germany
<<Read Full News>>

OBITUARY

Moudud Ahmed former Prime Minister of Bangladesh dies on 80In March 2021, former Prime Minister of Bangladesh and one of the founding member of Bangladesh Nationalist Party (BNP), Barrister Moudud Ahmed, passed away at the age of 80 in Singapore.
i.Barrister Moudud Ahmed was born on 24 May 1940 in Companiganj Upazila of Noakhali district in Bangladesh.
ii.He was elected to the Bangladeshi Parliament, 5-times from Companiganj Upazila of Noakhali district.
iii.Former PM of Bangladesh Ershad, sentenced him with 10-year jail term in 1982.
Portfolio held:

• Prime Minister of Bangladesh (1988–1989)
• Vice President of Bangladesh (1989–1990)
• Deputy Prime Minister (1976–1978 and 1987–1988)
• Minister of Law, Justice and Parliamentary Affairs (2001–2006)
• He is also a Member of Standing Committee of Bangladesh Nationalist Party.

BOOKS & AUTHORS

Bollywood Actor Samir Soni set to release his debut book titled “My Experiments With Silence”Bollywood Actor Samir Soni(52 years old) is set to release his first book titled “My Experiments With Silence” on anxiety and self discovery. The book will also chronicle the details of Samir Soni’s early days in Bollywood. The book is set to be published by OM Books International and is set to be released by late 2021.
About the book:
i.The book is a personal account of Samir Soni’s dialogues during his life in Delhi, Wall street and bollywood.
ii.The book features the amusing stories of his intense and introspective thoughts in the form of prose and poetry.
About Samir Soni:
i.He debuted as a television actor in “Samander”, a tv series based on a naval officer.
ii.Some of his notable movies were  I Hate Luv Storys, Kabhie Tum Kabhie Hum, Baghban and Basti.
iii.He debuted as a writer and director with a psychological thriller called My Birthday Song in 2018.

Book Titled “Indians: A Brief History of a Civilization” Authored by Namit AroraNamit Arora has authored a book titled “Indians: A Brief History of a Civilization”
The book is published by India Viking, an imprint of Penguin Random House.
Through this book Namit explores the ideas, beliefs and values of our ancestors through millennia.
About the book:
i.The book features 5 chapters on travellers like Megasthenes, Faxian, Xuanzan and Yijing, Alberuni a,  Marco Polo, and Francois Bernier and chapters on six places,

• Dholavira(2699-1900 BCE)
• Nagarjunakonda (220-320 CE)
• Nalanda(425-1350 CE)
• Khajuraho(950-1250 CE)
• Hampi(1136-1565 CE)
• Varanasi(from 800 BCE)

ii.These chapters convey the way Indian lived, ate, loved, built, fought and made sense of the material, rational and spiritual world.
Other works of Namit Arora:
Namit Arora is the author of The Lottery of Birth, a collection of essays, Love and Loathing in Silicon Valley(Novel).

STATE NEWS

India’s 1st Govt. run Veterinary Ambulance Network set-up in Andhra Pradesh

Andhra Pradesh govt. is planning to set-up India’s 1st Government run Mobile Ambulance Veterinary Clinic network in the state. Each Assembly Constituency in the state will be provided with 1 Ambulance along with 1 veterinary doctor, 1 Para-veterinary worker.

• The Ambulance is equipped with a ‘Hydraulic Lift’ facility to shift the injured animal to the hospital.

Consulate General Of India In South Africa Partnered With UP to Boost Post COVID-19 Tourism in India

i.The Consulate General of India in South Africa partnered with Uttar Pradesh(UP) to boost the post COVID-19 Tourism in India and highlight the various religious sites and other attractions in UP.
ii.On 24th March 2021, During the meeting titled “Post COVID Tourism in India” the detailed plans to attract tourists to UP was shared by Mukesh Kumar Meshram, Principal Secretary for Tourism and Culture in UP.
iii.The meet was organised by  Anju Ranjan, Indian Consul General in Johannesburg, South Africa.
iv.UP is committed to make Ayodhya a leading place for tourism among the religious places in the World.
About South Africa:
President- Matamela Cyril Ramaphosa
Currency- South African Rand
Capital- Pretoria(executive), Bloemfontein(judicial) and Cape Town(legislative)
Consulate General of India– Anju Ranjan
<<Read Full News>>

Hardeep Singh Puri, MoS Civil Aviation, Inaugurated the Kurnool Airport, AP i.25th March 2021, Hardeep Singh Puri, Minister of State(Independent Charge), Ministry of Civil Aviation inaugurated the Kurnool Airport, Oravackal in Andhra Pradesh(AP) over a virtual ceremony.The Airport was named as “Uyyalawada Narasimha Reddy airport”.
ii.Y.S. Jagan Mohan Reddy, Chief Minister of Andhra Pradesh attended the inauguration at Kurnool airport.
iii.The Kurnool Airport became the 6th Airport in AP to become functional after Kadapa, Visakhapatnam, Tirupati, Rajahmundry & Vijayawada.
iv.Under Regional Connectivity Scheme – Ude Desh Ka Aam Nagrik (RCS-UDAN) the flight operations will commence from 28th March 2021. 
v.YS Jagan Mohan Reddy has named the Kurnool Airport after Uyyalavada Narasimha Reddy, the first ever freedom fighter of the region.
About Andhra Pradesh:
CM- Y.S. Jagan Mohan Reddy
Governor- Biswa Bhusan Harichandan
<<Read Full News>>

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