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Current Affairs 27 October 2021

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Current Affairs 27 October 2021 EnglishWe are here for you to provide the important Recent and Latest Current Affairs 27 October 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

Narendra Modi launched Pradhan Mantri Ayushman Bharat Health Infrastructure Mission from Varanasi, UPPM Modi launches Pradhan Mantri Ayushman Bharat Health Infrastructure Missioni.On October 25, 2021, the Prime Minister (PM) of India Narendra Damodardas Modi launched a pan-India scheme namely PM Ayushman Bharat Health Infrastructure Mission from Varanasi, Uttar Pradesh (UP). He also inaugurated various development projects worth around Rs 5200 crore for Varanasi.
ii.This mission is a part of the effort to achieve holistic health care that is affordable and accessible to all.
iii.In a separate event, PM inaugurated nine medical colleges in Uttar Pradesh worth Rs 2,329 crore to make UP a medical hub of India.
About Uttar Pradesh:
Governor– Anandiben Patel
Bird Sanctuaries– Parvati Arga Bird Sanctuary, Lakh-Bahosi Bird Sanctuary, Vijay Sagar Bird Sanctuary
Festival– Taj Mahotsav
>>Read Full News

Renewable Energy Minister R K Singh Launched India’s 1st Green Day Ahead Market Union Minister of Power & New and Renewable Energy launches the Green Day Ahead MarketOn October 25, 2021, the Union Minister of Power & New and Renewable Energy, R K Singh launched India’s 1st Green Day Ahead Market (GDAM) for the renewable energy (RE) to enable the electricity generation and distribution companies (Discoms) to trade (i.e. buy or sell) RE in the day-ahead market.

  • India is the only large electricity market in the world to implement a GDAM exclusively for RE.
  • Objective: To reduce the dependency on imported sources of fossil fuel.

Key Points:
i.Nodal Agency: National Load Despatch Centre (NLDC), Power System Operation Corporation Limited (POSOCO), is the Nodal Agency of GDAM and it has set up the latest technologies and communication infrastructure for facilitating GDAM.
ii.The Day-ahead market facilitates the trading of power a day before.
iii.GDAM will provide competitive price signals and provide opportunities for the green market participants to trade in green energy, in a transparent, and efficient manner.
iv.Participating in the GDAM will reduce the curtailment of green power and unlock the not yet used RE potential. It also ensures instant payment to RE generators (i.e. on the same day of delivery).
About Ministry of New and Renewable Energy (MNRE):
Union Minister –  Raj Kumar Singh (Constituency – Arrah, Bihar)
Minister of State – Bhagwanth Khuba (Constituency – Bidar, Karnataka)
>>Read Full News

Dharmendra Pradhan Launches Phase II of Mahatma Gandhi National Fellowship (2021-23) Govt launches Phase-II of Mahatma Gandhi National FellowshipUnion Minister Dharmendra Pradhan, Ministry of Skill Development and Entrepreneurship(MSDE), launched the second phase of the Mahatma Gandhi National Fellowship (MGNF) for 2 years, 2021-2023 on October 25,2021.

  • MGNF Phase-II (National Roll Out) was launched on 25th October with 661 MGNFs who will be deployed across all districts of the country. 8 more IIMs have been on boarded taking the total to 9 IIMs (IIM Ahmedabad, IIM Bangalore, IIM-Jammu, IIM Kozhikode, IIM Lucknow, IIM Nagpur, IIM Ranchi, IIM-Udaipur and IIM Visakhapatnam).

Aim and Objective :
i.It is a two-year fellowship to create opportunities for the youth and enhance skill development at the grassroots level along with the academic partner IIM (Indian Institute of Management) to conduct class sessions at the district level with vast experience in the field.
ii.Fellowship aims to identify barriers to and create credible plans to increase employment, economic output and promote livelihoods including global thinking and integrated local language in skill development efforts.
iii.National Education Policy 2020 creates convergence between education and skill which reflects the fellowship that creates employment opportunities based on skills.
Mahatma Gandhi National Fellowship (MGNF)
i.MGNF is an opportunity for young women and men in the age group of 21-30 years who already possess some level of academic or professional expertise for providing catalytic support to the district administration to improve the skill development program delivery.
ii.The fellowship is designed under Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) seeks to create a cadre of young individuals and train them in a blended academic programme that provides both academic inputs and a component of field immersion at the district level.
iii.Creates career opportunity in public policy as the fellows will be awarded a Certificate in Public Policy and Management from IIM Bangalore.
iv.Fellows will receive a stipend of Rs. 50,000 in the first year and Rs. 60,000 in the second year.
Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP)

  • Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) was launched by the Government on 19th January 2018.
  • It is the World Bank assisted project that aims to strengthen skills and increase access to quality training for youth across the country which opens up opportunity.
  • Three key result areas have been identified under SANKALP (i) Institutional Strengthening; (ii) Quality Assurance; (iii) Inclusion of marginalized sectors.

Ex Konkan Shakti 2021-Sea Phase of India-UK Maiden Joint Tri-Service Exercise Held in Konkan Coast, Arabian Sea

India, UK take part in maiden bilateral tri-service exercise 'Konkan Shakti 2021'The maiden India-UK Joint Tri-Service exercise Konkan Shakti,2021 commenced off the Konkan coast in the Arabian Sea that aims to derive “mutual benefits” from each other’s experiences.

  • All participating units were split into two opposing forces with the aim of achieving ‘sea control’ to land Army ground-troops at a pre-designated site.

Features :
i.The exercise focused on multiple areas including enhancing aspects of interoperability and exchange of best practices.
ii.The growing interactions between India and UK creates commitment to the rules based interaction system that enhances values of Open trade and belief in the importance of freedom in the high seas.
ii.Apart from the UK, India is also conducting a tri-services exercise with the US and Russia.
About United Kingdom
Capital – London
Prime Minister – Boris Johnson
Currency – British Pound Sterling (GBP)
>>Read Full News

Govt Sets Up NSC To Implement NIPUN Bharat Mission; Headed By Dharmendra PradhanGovernment sets upGovernment has set up National Steering Committee (NSC) for implementation of National Initiative for Proficiency in Reading with Understanding and Numeracy (NIPUN) Bharat Mission under the Chairmanship of the Union Education Minister Dharmendra Pradhan and vice-chairperson is the Minister of State for Education Annpurna Devi Yadav.

  • The Department of School Education and Literacy had launched the NIPUN Bharat Mission on 5th July, 2021.

Objective :
To achieve the goal of universal proficiency in foundational literacy and numeracy for every child by grade 3, by 2026-27 as envisaged by National Education Policy 2020 (NEP,2020)..
Role of National Steering Committee (NSC)
i.Overseeing the progress of the National Mission on Foundational Literacy and Numeracy and providing guidance on policy issues and achieving the desired target in 2026-27.
ii.The committee reviews financial norms periodically to ensure synchronization with targets to be achieved and also measures yearly progress.
iii.To prepare and approve a National Action Plan (based on the State’s Action Plans) for bridging the gaps  for attributes such as  lack of Fund, Vacancies, Teachers, Demography, Local issues, Need of Training for teachers, Curriculum and pedagogy related.
The members of National Steering Committee (NSC)
i.Secretary, School Education and Literacy
ii.Director National Council of Educational Research and Training (NCERT)
iii.Secretary Education Uttar Pradesh
iv.Secretary Education, Karnataka
v.Director State Council for Educational Research and Training (SCERT), Gujarat and Director State Council for Educational Research and Training (SCERT) Sikkim.
vi.Representatives of seven union ministries  – Women and Child Development, Tribal Affairs, Social Justice and Empowerment, Health and Family Welfare, Finance, Electronics and Information Technology and Panchayati Raj.
vii.Two experts from National Council of Educational Research and Training (NCERT) and Regional Institute of education (RIE), Ajmer.
viii.Three external experts will also be members of the committee.
ix.The Joint Secretary and Mission Director NIPUN Bharat Mission is the convenor for the NSC.
x.Vice Chancellor of National Institute of Educational Planning and Administration (NIEPA);  xi.Chairperson of National Council for Teacher Education (NCTE).
Department of school Education and literacy
i.The Department of School Education & Literacy under the Ministry of Education(MoE), is responsible for development of school education and literacy in the country.
ii.The Ministry of Education (MoE) was created on September 26, 1985, through the 174th amendment to the Government of India (Allocation of Business) Rules, 1961.
iii.They integrate to attain “universalisation of education” with various new schemes and initiatives are taken up regularly and recently.

INTERNATIONAL AFFAIRS

Singapore to Launch Guidelines for Renewable Energy CertificatesSingapore to Launch Guidelines for Renewable Energy Certificates Singapore plans to launch standardized guidelines for renewable energy certificates (REC) in an effort to decarbonise its power sector and develop a regional grid. Key points of guidelines : i.Supports deployment of renewable energy in Singapore to develop regional grid which taps different types of low carbon energy sources in the region. ii.This is the first of its kind in Southeast Asia which defines the types of renewable energy sources such as solar, wind and biomass that are eligible to generate RECs. About Renewable energy Certificates (REC) • The certificates are market-based instruments where their prices are determined by market demand contained between ‘floor price’ (Minimum price) and ‘forbearance price’ (maximum price) specified by Central Electricity Regulatory Commission (CERC). • One certificate represents one megawatt-hour (MWh) of electricity generated from renewable energy source and delivered to the grid. • REC acts as a tracking mechanism for solar, wind, and other green energies as they flow into the power grid and named as Green tag, Tradable Renewable Certificates (TRCs), Renewable Electricity Certificates, or Renewable Energy Credits. Central Electricity Regulatory Commission (CERC) Founded - 24 July 1998 Headquarters - New Delhi Commission - Chairperson - P.K.Pujar ; Member - Indu Shekhar Jha, Arun Goyal ; Member (Law) - Pravas Kumar Singh ; Secretary - Sanoj Kumar Jha. About Singapore : Capital - Singapore Currency - Singapore Dollar President - Halimah YacobSingapore plans to launch standardized guidelines for renewable energy certificates (REC) in an effort to decarbonise its power sector and develop a regional grid.
Key points of guidelines :
i.Supports deployment of renewable energy in Singapore to develop regional grid which taps different types of low carbon energy sources in the region.
ii.This is the first of its kind in Southeast Asia which defines the types of renewable energy sources  such as solar, wind and biomass that are eligible to generate RECs.
About Renewable energy Certificates (REC)

  • The certificates are market-based instruments where their prices are determined by market demand contained between ‘floor price’ (Minimum price) and ‘forbearance price’ (maximum price)  specified by Central Electricity Regulatory Commission (CERC).
  • One certificate represents one megawatt-hour (MWh) of electricity generated from renewable energy source and delivered to the grid.
  • REC acts as a tracking mechanism for solar, wind, and other green energies as they flow into the power grid and named as Green tag, Tradable Renewable Certificates (TRCs), Renewable Electricity Certificates, or Renewable Energy Credits.

About Central Electricity Regulatory Commission (CERC)
Founded – 24 July 1998
Headquarters – New Delhi
Chairperson – P.K.Pujari
About Singapore :
Capital – Singapore
Currency – Singapore Dollar
President – Halimah Yacob

CAG, Auditor General of Maldives inked MoU to Strengthen Public Finance AuditCAG, Auditor General of Maldives ink MoU to strengthen public finance auditOn October 24, 2021, Comptroller and Auditor General of India (CAG) and Auditor General of Maldives signed a Memorandum of Understanding (MoU) to strengthen the audit process of public finance.
Signatories:
It was signed by Girish Chandra Murmu, CAG of India and Hussain Niyazy, Auditor General of Maldives in Male, capital of Maldives
Key Points:
i.The MoU aims at exchanging information in the field of public sector audit between the two countries.
ii.Both sides will develop and strengthen respective institution’s professional capacity and improve methodologies in the field of audit of public finance.

  • There will be training programs in their respective countries for their staff on a need basis.
  • Sustainable development is the forefront of this partnership between the two SAIs (Supreme Audit Institutions),

iii.Both nations will also work towards Natural Resource Accounting (NRA), which provides an outline of resource bases, and embeds environmental aspects into the economic indices.
iv.India, a signatory to the Environmental Accounting efforts of the UN is committed to monitor 25 environment-related targets with particular attention being paid to target no 15.9 related with Environmental-Economic Accounting.
v.Both institutions are the members of the Asian Organization of Supreme Audit Institutions (ASOSAI) and the International Organization of Supreme Audit Institutions (INTOSAI).

  • CAG is already supporting the Auditor General of Maldives and its staff by providing relevant training through its International Centre for Information Systems and Audit (iCISA) and International Training Centre for Environment Audit and Sustainable Development (iCED).

WMO’s State of the Climate in Asia 2020: India Lost $87 Billion in 2020 due to Disasters Linked to Climate ChangeClimate change India lost $87bn due to natural disasters last year, says WMOAccording to the State of the Climate in Asia 2020, a first of its kind multi-agency report published by the World Meteorological Organization (WMO), India has suffered an average annual loss (AAL) of around 87 billion USD due to tropical cyclones, floods and droughts.

  • China experienced the highest ALL of around 238 Billion USD followed by India and Japan (83 billion USD).
  • The highest AAL was associated with drought.

State of the Climate in Asia 2020:
i.The report provides an overview of land and ocean temperatures, precipitation, glacier retreat, shrinking sea ice, sea-level rise and severe weather.
ii.The report also examines the socio-economic impacts in a year when the region is also affected by the COVID-19 pandemic.
iii.The report covers every affected region of Asia, from the Himalayas to the Coastal areas, densely populated areas to deserts from the Arctic to the Arabian seas.
Click here for the complete report
About World Meteorological Organization (WMO):
WMO is an intergovernmental organization with a membership of 193 Member States and Territories.
Secretary-General– Petteri Taalas
Headquarters– Geneva, Switzerland
>>Read Full News

BANKING & FINANCE

IndiGo Tie-up with KMB to Launch Co-Branded Credit Card ‘Ka-ching’IndiGo, Kotak Mahindra Bank tie up for co-branded credit cardIndiGo and Kotak Mahindra Bank (KMB) entered into a strategic partnership for the launch of a co-branded credit card named ‘Ka-ching’.
Features of Ka-ching:
i.The credit card was launched under IndiGo’s 6E Rewards programme and linked with it to enable the members to earn rewards by using the card on IndiGo and other merchants.
ii.The co-branded card will be available in 2 variants such as 6E Rewards and 6E Rewards XL by offering exclusive travel benefits for domestic and international travel.
iii.The card was scheduled to be launched in November 2021 and with the card, the customers could access some special benefits on IndiGo.
iv.As the card is linked with the 6E Rewards Programme, the cardholders could earn additional 6E Rewards on shopping, transport, medical bill spending, utilities, fuel, etc.
About Kotak Mahindra Bank (KMB):
Establishment – 2003
Headquarters – Mumbai, Maharashtra
MD & CEO – Uday Kotak
Tagline – Let’s make money simple
About IndiGo:
As of August 2021, IndiGo is India’s largest passenger airline with a market share of 57 percent.
Establishment – 2006
Headquarters – Gurugram, Haryana
Whole Time Director and CEO – Ronojoy Dutta

ICICI Lombard launches BeFit – Cashless OPD & Wellness Services to CustomersICICI Lombard launches BeFit – cashless OPDICICI Lombard General Insurance has launched a solution named ‘BeFit’ to provide benefits of OPD (Outpatient Department ) services to its customers in a cashless manner.

  • The OPD services include doctor consultation, pharmacy and diagnostics services, and physiotherapy sessions.
  • BeFit was serviced by ICICI Lombard’s ILTakeCare app.

Key Features of BeFit:
i.Under the BeFit solution, medicine will be delivered to home within 60 minutes and lab tests both at home and centre visit. It also offers 24×7 consultations (tele and virtual) by a panel of doctors.
ii.Its offering covers pharmacy and diagnostics services related expenses for minor procedures that do not need hospitalization.
iii.It provides cashless and contactless solutions to customers wanting to stay fit and address their medical problems.
iv.It will join with standard health insurance policy to support the customers and empower policyholders to benefit from a host of wellness services.
v.Currently it is launched in 20 locations such as, Mumbai, Delhi NCR, Hyderabad, Kolkata, Pune, chennai, etc.
About ICICI Lombard General Insurance:
Chief Executive Officer: Bhargav Dasgupta
Headquarters: Mumbai, Maharashtra
Founded: 2001

HDFC Ltd, IPPB Partnered to Offer Home LoansIndia Post Payments Bank and HDFC Ltd partner to offer home loansHDFC Ltd and India Post Payments Bank (IPPB) made a strategic partnership to offer HDFC Ltd’s home loans to ~4.7 crore customers of IPPB through its wide network of 650 branches and over 1.36 lakh banking access points.

  • Objective: To promote affordable housing in the remotest locations of India.
  • Under the partnership, IPPB will offer home loans for customers in unbanked and underserved areas through nearly 1,90,000 banking service providers including postmen and Gramin Dak Sevaks.

Key Points:
i.HDFC Ltd will handle the credit, technical and legal appraisals, processing, and disbursement for all home loans whereas IPPB will be responsible for sourcing of loans.
ii.The low-interest rates, subsidies under Pradhan Mantri Awas Yojana (PMAY) and the tax benefits have helped to make housing affordable.
iii.Under PMAY, HDFC has the highest number of beneficiaries at over 250,000, with cumulative disbursements of 43,000 crores and a subsidy amount of Rs 5,800 crores (as of June 30, 2021).
About India Post Payments Bank (IPPB):
Establishment – 2018, under the Department of Posts, Ministry of Communication
Headquarters – New Delhi, Delhi
MD & CEO – J Venkatramu
Tag line – Aapka Bank, Aapke Dwaar

ECONOMY & BUSINESS

Government, Tata Sons signed Rs 18000cr Share Purchase Agreement for Air IndiaSons sign share purchase agreement for Air IndiaOn October 25, 2021, the Central Government signed a Share Purchase Agreement (SPA) with Tata Sons for sale (strategic disinvestment) of national carrier Air India for Rs 18,000 crore. The information for the same was provided by Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey.

  • The SPA was signed by Air India Director – Finance Vinod Hejmadi; and Civil Aviation Ministry Joint Secretary Satyendra Mishra and Suprakash Mukhopadhyay.

Key Points:
i.The government is divesting its 100% ownership of Air India and Air India Express along with its 50% stake in ground-handling company AISATS (Air India Sats Airport Services Private Limited).
ii.As on August 31, 2021, Air India had a total debt of Rs 61,562 crore. As part of the deal, 75% of this debt or Rs 46,262 crore will be transferred to a special purpose vehicle Air India Assets Holding Ltd (AIAHL) before handing over the airline to the Tata Group.

  • However, the government transfer about Rs 16,000 crore of unpaid current liabilities to AIAHL.
  • Of the 141 Air India aircraft that Tata will get 42 leased planes while the remaining 99 are owned.

iii.Air India will be the third airline brand in the Tatas’ portfolio as  it holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd.

ICICI Bank Overtook HUL in M-cap to Become 5th Most Valued Company of India; RIL Tops

ICICI Bank has overtaken Hindustan Unilever Limited(HUL) to become the 5th most valued company in India following the 10.8% increase in the share price boosted by the September quarter result. ICICI bank has become the 2nd bank, after HDFC Bank, among the top 5 companies. Reliance Industries Limited (RIL) was leading the chart followed by Tata Consultancy Services(TCS).

  • ICICI Banks market capitalisation(m-cap)  stood at Rs 5.83 lakh crore where the m-cap of HUL was Rs 5.76 lakh crore.
  • This is the first time since May 2015 that a private lender has overtaken HUL in m-cap.
  • Shares of ICICI Bank closed at Rs 841.05 after scaling a record high of Rs 859.70

AWARDS & RECOGNITIONS  

India’s Official Entry to the Oscars 2022: Tamil Film “Koozhangal” 

Tamil Film titled “Koozhangal” (Pebbles) directed by filmmaker Vinothraj PS and produced by Rowdy Pictures of Vignesh Shivan and Nayanthara, has been selected as India’s official entry for the 94th Academy Awards(Oscars 2022). If selected the film will compete under the “Best International Feature Film” category.

  • The film has won the Tiger Award for best film, at the 50th International Film Festival Rotterdam (IFFR) 2021 and was screened at the Indian Film Festival of Los Angeles (IFFLA).
  • The 94th Academy Awards is set to be held on 27th March 2022 in Los Angeles, United States of America.  

APPOINTMENTS & RESIGNATIONS       

Shavkat Mirziyoyev won 2nd Term as President of Uzbekistan
Uzbekistan's incumbent leadeShavkat Mirziyoyev, the incumbent President of Uzbekistan has won a 2nd five-year term as the President of Uzbekistan. He won the election with 80.1% of the vote where the total voter turnout was at 80.8%.
He is a member of the UzLiDeP(Uzbekistan Liberal Democratic Party).

  • The 2021 election marks the 6th election of Uzbekistan held since it became independent in 1991.
  • Shavkat Mirziyoyev took office in 2016 following the death of Islam Karimov, the first post-independence president of Uzbekistan.

About Shavkat Mirziyoyev:
i.Shavkat Mirziyoyev was born on 24th July 1957 in Zaamin District of Jizzakh Region, Uzbekistan.
ii.He was elected as the deputy of the Supreme Council of the republic in 1990 and served as Chairman of the Credentials Committee.
iii.He was appointed as the Prime Minister of the Republic of Uzbekistan in 2003, 2005, 2010, and 2015.
iv.In 2016 he was elected as the President of Uzbekistan and assumed office on 14th December 2016.
Awards:

  • Order “Mekhnat Shukhrati” (‘Glory of Labor’)
  • “Fidokorona Khizmatlari Uchun” (‘For a Selfless Service’).

About Uzbekistan:
Prime Minister– Abdulla Aripov
Capital– Tashkent
Currency– Uzbekistani soʻm

SMB Neobank FloBiz announces Manoj Bajpayee as Brand Ambassador for myBillBookManoj Bajpayee as brand ambassador for myBillBookFloBiz, a neobank for Indian Small to Medium sized Businesses(SMBs), announced Padma Shri Awardee actor Manoj Bajpayee as the brand ambassador for its flagship product myBillBook. 

  • Objective : To accelerate its outreach to the SMB sector and promote the adoption of myBillBook – a simple to use GST(Good & Services Tax) billing and accounting software.

Highlights:
i.He will promote the ‘’Business Ko Le Seriously’’ campaign to mark the importance of digital solutions.FloBiz will release advertisement films featuring Manoj Bajpayee as a businessman.
ii.The campaign is credited by Tilt Brand Solutions.
About myBillBook:
i.It is a software for GST registered businesses where invoicing is one of the core business activities.
ii.It provides a secure platform for SMB business owners to record transactions & track business performance and will support them to run their operations from anywhere & anytime on both mobile & desktop.
iii.It supports bill creation  (GST & non-GST), record purchases & expenses, maintain stock and manage payables/receivables. It is currently available in English, Hindi, Gujarati & Tamil.
About  FloBiz:
Establishment – 2019
Headquarters- Bangalore, Karnataka
Co-founder and CEO – Rahul Raj

ACQUISITIONS & MERGERS 

CCI approves Acquisition of Parexel International Corporation by Phoenix ParentcoParexel International CorporationThe Competition Commission of India (CCI) approved the acquisition of Parexel International Corporation (PIC), which is headquartered in Durham, USA (United States of America) by Phoenix Parentco Inc.

  • Parexel is a biopharmaceutical company that provides outsourcing services to other companies.

Highlights
i.The Phoenix Parentco Inc.,will acquire 100% of the equity shareholding of PIC.
ii.Phoenix Parentco is a special purpose investment vehicle that operates solely as an investment holding company.
iii. Phoenix Parentco is jointly controlled by EQT Fund Management S.A.R.L. and The Goldman Sachs Group Inc.
About  Competition Commission of India (CCI)
Headquarters– New Delhi, Delhi
Chairperson– Ashok Kumar Gupta
Founded- 14 October 2003

CCI Approved Acquisition of 4.99% Stake of HDFC ERGO by HDFC Bank; Tech Mahindra Acquires Lodestone & WMWHDFC ERGO General Insurance (1)Competition Commission of India(CCI) has approved the acquisition of 4.99% of the outstanding equity share capital of HDFC ERGO General Insurance Company by HDFC Bank. 

  • The acquisition will enable the HDFC Bank to participate in the growth opportunities of HDFC ERGO and create a long term value for the shareholders.

Background:
In June 2021, the board of HDFC Bank approved to acquire around 3.55 crore shares in HDFC ERGO General Insurance Company for over Rs 1906 crore from Housing Development Finance Corporation(HDFC), the parent company.
Tech Mahindra Acquired Lodestone & WMW to Enhance its Digital Portfolio:
Tech Mahindra Limited has acquired United States(US) based Infostar LLC, which is doing business as Lodestone for 105 million USD (~Rs 788 crores) and We Make Websites Limited (WMW), based in London for 9.4 million pounds (~ Rs 97 crores) to strengthen its digital portfolio.

  • Lodestone is one of the leading digital engineering quality assurance providers for new-age digital companies.
  • WMW is a website building and migration service on the Shopify Plus platform.

Key Points:
i.The acquisition of Lodestone and WMW by Tech Mahindra will enhance its digital engineering capabilities to effectively utilize data strategy and address machine learning challenges.
ii.This will also enhance the capabilities of Tech Mahindra to provide end to end product quality assurance across hardware, software, and data layers.  This will strengthen the tech Mahindra’s position as a leading digital transformation enabler in the engineering space.
About HDFC Bank:
MD & CEO– Sashidhar Jagdishan​​​​​​​
Tagline– We understand your world
Incorporated in August 1994
Headquarters– Mumbai, Maharashtra

       SCIENCE & TECHNOLOGY

MoRTH Minister Nitin Gadkari Launches Worlds 1st Instant Advice App ‘CUNSULT”Union Minister Nitin Gadkari launcheOn October 25, 2021, Union Minister Nitin Jairam Gadkari, Ministry of Road transport and highways (MoRTH) launched the World’s 1st Instant Advice App, “CUNSULT”, a knowledge sharing platform.
About CUNSULT application:
It is a first global facility for people who need information, advice, counsel, and guidance can contact and call up experts in 65 sectors.  It is premised upon the framework of connecting knowledge seekers and knowledge givers.

  • Each expert also gets a unique, exclusive page reflecting their contributions by way of articles and video-blogs.

Participants:
Amitabh Kant , CEO (Chief Executive Officer) NITI (National Institution for Transforming India) Ayog; Apurva Chandra, Secretary I&B (Information and Broadcasting); Former Secretary Shri Raghav Chandra among others.

ENVIRONMENT

Trigonopterus corona: New Beetle Species Named after Coronavirus

Museum scientists from Indonesia and Germany have discovered 28 new species of beetles (all of genus Trigonopterus) from the Indonesian island of Sulawesi. One of the new beetle species has been named “Trigonopterus corona”, which reflects the impacts of the COVID-19 pandemic on this project.

  • Most of these species were collected by Raden Pramesa Narakusumo, curator of beetles at the Museum Zoologicum Bogoriense (MZB), Indonesian Research Center for Biology, from two localities of Central Sulawesi Province: Mt. Dako and Mt. Pompangeo.
  • The species are described in the journal Zookeys. 

Other species named after Coronavirus:
Potamophylax coronavirus – new species of caddisfly
Stethantyx covida- new wasp species

OBITUARY

South Korea’s Former President Roh Tae-woo Passed Away Former President of South Korea, Roh Tae-woo, passed away in Seoul at the age of 88 years. He played an important role in the transition of democratic elections in South Korea.
Key points:
i.Roh Tae-woo was born in 1932 and began his military career during the 1950-1953 Korean War and was the commander of a combat unit in the Vietnam War.
ii.Roh Tae-woo participated in a 1979 coup that made his army friend and coup leader Chun Doo-hwan president after their mentor, dictator Park Chung-hee, was assassinated.
iii.He is known by the nickname- Mul (Water) Tae-woo. He served as President of South Korea from 1988 to 1993.

IMPORTANT DAYS

Vigilance Awareness Week 2021 – 26th October to 1st November Vigilance Awareness Week 2021Vigilance Awareness Week(VAW) is annually observed across India during the week which marks the birth anniversary of Sardar Vallabhbhai Patel, which falls on 31st October. 
The Central Vigilance Commission has decided to observe the Vigilance Awareness Week (VAW) 2021 from 26th October 2021 to 1st November 2021 to promote integrity, transparency and accountability amongst public servants and create awareness about the existence, causes and gravity of corruption.

  • The VAW provides an opportunity to reaffirm the collective duty and responsibility to ensure transparency and integrity in the systems and procedures.

The theme of Vigilance Awareness Week 2021 is “Independent India @75: Self Reliance with Integrity”. 
VAW 2021 Initiative – ‘Complaints under PIDPI’:
A special initiative has been taken to create awareness about the complaint mechanism available under the Public Interest Disclosure and Protection of Informers(PIDPI) resolution.
The complaints made under the PIDPI Resolution are termed as PIDPI Complaints.
 About Central Vigilance Commission(CVC) :
Central Vigilance Commission was established by the government of India on the recommendations of the Committee on Prevention of Corruption headed by K. Santhanam.
Central Vigilance Commissioner– Suresh N Patel
Established in February 1964
Headquarters– New Delhi
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Global Media and Information Literacy Week 2021 – 24th – 31st OctoberGlobal Media and Information Literacy Week 2021United Nations(UN)’s Global Media and Information Literacy (MIL) Week is annually observed across the globe from 24th October to 31st October to review and celebrate the progress made towards “Media and Information Literacy for All”.

  • The year 2021 marks the 10th Global MIL Week and this also marks the first UN-recognised Global MIL Week
  • Global MIL Week 2021 is hosted by South Africa and co-organised by United Nations Educational, Scientific and Cultural Organization (UNESCO). 

The theme of 2021 Global MIL Week is “Media and Information Literacy for the Public Good”.
UN Recognition:
The United Nations General Assembly(UNGA) adopted the resolution A/RES/75/267 on 25th March 2021 and proclaimed 24 to 31 October of each year as “Global Media and Information Literacy (MIL) Week”.
Background:
i.The idea of Global Media and Information Literacy (MIL) Week was initiated in 2011 in Fez, Morocco.
ii.The observance of the Global Media and Information Literacy (MIL) Week began in 2012.
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
Director-General– Audrey Azoulay
Headquarters– Paris, France
The UNESCO logo block is composed of :

  • The emblem – the temple – including the UNESCO acronym.
  • The complete name in one or several languages.
  • A dotted line in a logarithmic progression.

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STATE NEWS

Gujarat CM Bhupendra Patel Launches ‘Go Green’ Scheme to Provide Subsidized e-vehicles to WorkersGuj CM launches scheme to provide subsidised e-vehicles to workersGujarat Chief Minister (CM) Bhupendra Patel launched ‘Go-Green’ scheme & its Portal to provide electric two-wheelers at subzidised rates to construction and industrial workers of the state.

  • Objective – The Scheme aimed at reducing fuel bills and also curbs vehicular pollution.

Key points 
i.The electric 2 wheeler buyers of Construction and Industrial sectors can avail one-time subsidy on RTO registration and road tax.
ii.The organised sector workers, such as an industrial labourer, would get a subsidy of 30 per cent on the vehicle’s price or Rs.30,000, whichever is less, on the purchase of battery-powered two-wheelers.
iii.For construction sector workers, 50 per cent subsidy or Rs.30,000, whichever is less on the purchase of battery-powered two-wheelers.
Features 
i.Initially, the state government provided battery-powered two-wheelers to 1,000 construction workers and 2,000 organised sector workers.
ii.Only government-approved and locally-produced vehicles will be considered eligible for the scheme.
iii.The high-speed models capable of covering a distance of 50 kilometers in one charge are only taken under the scheme.
iv.The eligible worker can avail the scheme by applying online.
About Gujarat 
Wildlife sanctuary – Hingolgadh Nature Education Sanctuary, Rampara Wildlife Sanctuary, Shoolpaneshwar Wildlife Sanctuary.
Heritage sites – Champaner-Pavagadh Archaeological Park (2004), Rani-ki-Vav (the Queen’s Stepwell) at Patan (2014), Dholavira: a Harappan City (2021).

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Current Affairs Today (AffairsCloud Today)

S.no Current Affairs 27 October 2021
1 Narendra Modi launched Pradhan Mantri Ayushman Bharat Health Infrastructure Mission from Varanasi, UP
2 Renewable Energy Minister R K Singh Launched India’s 1st Green Day Ahead Market
3 MSDE Launches Phase II of Mahatma Gandhi National Fellowship
4 India, UK Take Part In Joint Exercise Konkan Shakti 2021
5 Govt Sets Up National Steering Committee To Implement NIPUN Bharat Mission; Headed By Dharmendra Pradhan
6 Singapore to Launch Guidelines for Renewable Energy Certificates
7 CAG, Auditor General of Maldives inked MoU to Strengthen Public Finance Audit
8 WMO’s State of the Climate in Asia 2020: India Lost $87 Billion in 2020 due to Disasters Linked to Climate Change
9 IndiGo Tie-up with KBM to Launch Co-Branded Credit Card ‘Ka-ching’
10 ICICI Lombard launches BeFit – Cashless OPD & Wellness Services to Customers
11 HDFC Ltd, IPPB Partnered to Offer Home Loans
12 Government, Tata Sons signed Rs 18000cr Share Purchase Agreement for Air India
13 ICICI Bank Overtook HUL in M-cap to Become 5th Most Valued Company of India
14 India’s Official Entry to the Oscars 2022: Tamil Film “Koozhangal”
15 Shavkat Mirziyoyev won 2nd Term as President of Uzbekistan
16 SMB Neobank FloBiz announces Manoj Bajpayee as Brand Ambassador for myBillBook
17 CCI approves Acquisition of Parexel International Corporation by Phoenix Parentco
18 CCI Approved Acquisition of 4.99% Stake of HDFC ERGO by HDFC Bank; Tech Mahindra Acquires Lodestone & WMW
19 Union Minister Nitin Gadkari attended launch event of CUNSULT application
20 Trigonopterus corona: New Beetle Species Named after Coronavirus
21 South Korea’s Former President Roh Tae-woo Passed Away
22 Vigilance Awareness Week 2021 – 26th October to 1st November
23 Global Media and Information Literacy Week 2021 – 24th – 31st October
24 Gujarat government launches scheme to provide subsidized e-vehicles to workers