Current Affairs 29 October 2021

We are here for you to provide the important Recent and Latest Current Affairs 29 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.

Our Current Affairs October 2021 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Latest Current Affairs Quiz and Monthly Current Affairs 2021 PDF which will be a pedestrian to crack your exams.

Read Current Affairs in CareersCloud APP, Course Name –  Learn Current Affairs – Free Course – Click Here to Download the APP

We are Hiring – Subject Matter Expert | CA Video Creator | Content Developers(Pondicherry)

NATIONAL AFFAIRS

Civil Aviation Minister Launches Scheme to Promote Agri-Products Transportation by Air – Krishi UDAN 2.0
Civil Aviation Minister Jyotiraditya Scindia launched Krishi Udan 2.0 scheme to implement in 53 airports under which cargo-related infrastructure will be built mainly focusing on  north-east, hilly and tribal regions and likely benefits farmers.

• They aimed at opening new ventures of growth for agriculture sectors and also doubling farmer’s income by removing barriers in supply chain and transportation of farm produce.

Key points
i.Facilitates the development of hubs and creates cargo terminals at the airports in a phase-wise manner.
ii.An online platform called e-Kushal (Krishi UDAN for Sustainable Holistic Agri-Logistics) would be developed to facilitate information dissemination to all stakeholders regarding transportation of agricultural produce.
Recent Relates News
The Ministry of Ports, Shipping and Waterways (MoPSW) and the Ministry of Civil Aviation (MoCA) signed a Memorandum of Understanding (MoU) for development of Seaplane services in India.

• The agreement will help in development of new water aerodromes and operationalization of new Seaplane routes in India.

About Ministry of Civil Aviation 
Cabinet Minister – Jyotiraditya Scindia (Guna Constituency, Madhya Pradesh)
Minister of state – V K Singh
>>Read Full News

ROIP system inaugurated at SMP Port, Kolkata; BPCL Conducted 1^st Ship-to-ship LPG transfer at SMP Port

i.On October 26, 2021, the Radio over Internet Protocol (ROIP) System at Syama Prasad Mookerjee Port, Kolkata (SMP, Kolkata), West Bengal (WB) was inaugurated for the first time in any Major Indian Port.
ii.It is being introduced as a marine communication mode covering the entire Hugli River Estuary from Kolkata to Sandheads, having base stations at 4 Locations.
iii.Again for the first time ever in the history of major ports, SMP, Kolkata has successfully handled ship-to-ship (STS) lighterage operation of Liquid Petroleum Gas (LPG) of BPCL (Bharat Petroleum Corporation Limited) at Sandheads.
About Syama Prasad Mookerjee Port, Kolkata:
It is the oldest operating port in India and was constructed by the British East India Company.
Chairman– Vinit Kumar
>>Read Full News

SC appoints 3-member Expert Panel to Investigate on Pegasus Spyware UsageOn 27th October 2021, A Supreme Court (SC) bench headed by Chief Justice of India (CJI) N V Ramana instituted a 3-member expert panel to investigate the issue on usage of ‘Pegasus Spyware’ on Indian Citizens during 2019.
3-member expert panel:

• Naveen Kumar Chaudhary – He is a Cyber Security expert & the Dean of National Forensic Sciences University, Gandhinagar, Gujarat
• Prabaharan P – With Expertise in Malware detection & Critical infrastructure security, Prabaharan serves as Professor (School of Engineering), Amrita Vishwa Vidyapeetham
• Ashwin Anil Gumaste – He was awarded Vikram Sarabhai Research Award (2012) and Shanti Swarup Bhatnagar Prize for Science and Technology (2018), & currently serves as an Associate Professor in IIT Bombay

i. The 3-member technical panel will submit the reports to former SC Judge RV Raveendran, who will be assisted by former IPS officer Alok Joshi and Sundeep Oberoi.
About Supreme Court of India:
CJI – N. V. Ramana (48th CJI)
Total Strength of Judges – 34 (including CJI)(But Presently there are 33 (Including CJI))
Retirement Age of Supreme Court Judges is 65 years
>>Read Full News

MSME Minister Narayan Tatu Rane Launched “SAMBHAV” to Promote Entrepreneurship in India

Narayan Tatu Rane, Union Minister of Micro, Small & Medium Enterprises(MSME) launched ‘SAMBHAV’ an e-national level Awareness programme 2021 to promote the role of entrepreneurship towards the development of India.
SAMBHAV will be a one-month-long initiative under the Ministry of MSME(MoMSME).

• Under this programme, the students from colleges and ITIs from across India will be encouraged by 130 field offices of the MoMSME to take up entrepreneurship.
• This 1-month programme aims to create awareness about the various schemes implemented by the Ministry of MSME through audio and video film presentations.
• Target was to enhance the GDP contribution from present 30 per cent to 50 per cent, and employment generation in MSME sector from 11 crore to 15 crore.

BANKING & FINANCE

RBI’s holding of Gold in Forex Reserves increased 11% y-o-y to 743.84 metric tonnesOn October 27, 2021, the Reserve Bank of India (RBI) released its 37^th half yearly report namely ‘Management of Foreign Exchange Reserves: April-September 2021’ stating an increase in apex bank’s holding of gold in foreign exchange reserves by about 11% (year-on-year) to 743.84 metric tonnes as on September-end 2021. It was 668.25 metric tonnes in September 2020.
Key Points:
i.The share of gold in the reserves (in value terms) rose marginally at 5.88 percent, in September 2021 as compared to 5.87 percent in March 2021.
ii.451.54 metric tonnes of gold is held overseas in safe custody with the Bank of England and the Bank for International Settlements (BIS), while 292.30 metric tonnes of gold is held domestically.
iii.At the end of June 2021, the foreign exchange reserves cover of imports decreased to 15.8 months from 17.4 months at March-end 2021.
iv.The ratio of short-term debt to reserves, which was 17.5% at end-March 2021, declined to 16.8% at June-end 2021.
Total foreign currency assets (FCA):
i.As on September-end 2021, of the total foreign currency assets (FCA) comprising multi-currency assets that are held in multi-asset portfolios of $573.60 billion; $383.74 billion was invested in securities, $147.86 billion was deposited with other central banks and the BIS and the balance $42 billion ($7.44 billion) is with commercial banks overseas.
ii.Foreign exchange reserves in nominal terms  increased by $34.1 billion during April-June 2021 as compared with $27.9 billion in the corresponding period of 2020-21.

Govt, ADB sign US$100mn Loan Pact to Promote Agribusiness in MaharashtraIn October 27, 2021, the Government of India (GoI) and Asian Development Bank (ADB) inked US$100 million loan agreement for Maharashtra Agribusiness Network (MAGNET) Project. The project envisages promoting agribusiness network to boost farm incomes and reduce food losses in the State of Maharashtra.

• ADB will provide a $500,000 technical assistance (TA) grant from its Technical Assistance Special Fund and $2 million from the Japan Fund for Poverty Reduction on a grant basis to improve market linkages for FPOs (Farmer Producer Organizations).

Signatories:
India– Rajat Kumar Mishra, additional Secretary in the Ministry of Finance
ADB– Takeo Konishi, Country Director of ADB’s India Resident Mission
Key Points:
i.The project will support the on-farm improvement in productivity, up-gradation of post-harvest facilities, and establishing efficient marketing structures.
ii.The project will upgrade 16 existing post-harvest facilities and construct 3 new ones to provide individual farmers and FPOs clean, accessible, and sustainable crop storage and processing facilities.
iii.The project is expected to benefit 200,000 farmers.
How will this loan be helpful?
The ADB loan will provide financing opportunities for FPOs and value chain operators (VCOs) through grants. It also provides financial intermediation loans to support 300 subprojects.

• The TA will establish crop-based centers of excellence networks, promote innovative technologies in agribusiness, and support capacity building of the MAGNET Society and the Maharashtra State Agriculture Marketing Board (MSAMB).

SAIPL and SBI together Provides Financial Support to Dairy farmers in MaharashtraSunfresh Agro Industries Private Limited (SAIPL) in Maharashtra operating under Global dairy major Lactalis partnered with State Bank of India (SBI) to extend financial support to the dairy farmers in the state.

• The loan from SBI helps the farmers to buy cattle that would produce higher quality milk, improve storage and supply-chain.
• The company is in the market with brand Parbhat for milk and indegenous products

About State Bank of India
Founded – July 1, 1955
Chairperson – Dinesh Kumar Khara
Headquarters – Mumbai
About Maharashtra 
Chief Minister – Uddhav Thackery
Governor – Bhagat Singh Koshyari
Tiger Reserves – Bor Tiger Reserve, Tadoba-Andhari, Navegaon – Nagzira

AWARDS & RECOGNITIONS   

4 Indian Institutes made it to Times Higher Education’s World Reputation Rankings 2021; IISc Bengaluru Among Top 100 4 Indian institutes have made it to the Times Higher Education(THE)’s World Reputation Rankings 2021, the annual ranking of THE that features the top 200 universities based on the votes from leading academics across the globe.

• Indian Institute of Science (IISc) Bengaluru ranked among the top 100(91-100) has topped the Indian Institutes.
• The other 3 Indian institutes are the Indian Institute of Technology(IIT) Bombay, the Indian Institute of Technology(IIT) Delhi, and the Indian Institute of Technology(IIT) Madras.

Harvard University of the United States of America (USA) has topped the 2021 ranking followed by Massachusetts Institute of Technology (MIT), USA and University of Oxford from the United Kingdom(UK) has secured the 2nd and 3rd rank respectively.
About Times Higher Education (THE):
Times Higher Education (THE), formerly The Times Higher Education Supplement (THES), is a British magazine.
Headquarter– London, United Kingdom (UK)
>>Read Full News

Karnataka Bank gets Award for Innovative HR practicesKarnataka Bank has been awarded for being the ‘Top Organization with Innovative HR (Human Resource) Practices‘ award at the 19th edition of the Asian Pacific HRM Congress.
Key points
i.The award is presented to the Bank for effectively implementing innovative HR practices for Human Resource Development and Talent Management.
ii.The award is also a recognition for the efforts put in by the 8,400-plus staff of the bank and efficiency implement programmes to emerge as the ‘digital bank of future.
About Karnataka Bank
Headquarters: Mangalore, Karnataka
CEO: Mahabaleshwara M. S
Founded: 18 February 1924
Tagline: “Your Family Bank Across India”     

APPOINTMENTS & RESIGNATIONS   

Government Appoints Banker K V Kamath as Chairperson of NaBFID

The government appointed K V Kamath, as chairperson of the newly set up Rs 20,000 crore National Bank for Financing Infrastructure and Development (NaBFID), a newly set up Development Financial Institution (DFI) in India, Department of Financial Services (DFS), under the finance ministry.
K V Kamath began his career at ICICI in 1971and retired as managing director and CEO in April 2009 and became its non-executive chairman.

• The institution has been set up to support the development of long-term non-recourse infrastructure financing.
• National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 supports the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.

About Financial Institutions
i.In India, the first DFI was operationalised in 1948 with the setting up of the Industrial Finance Corporation of India (IFCI).
ii.Subsequently, the Industrial Credit and Investment Corporation of India (ICICI) was set up with the backing of the World Bank in 1955.
iii.The Industrial Development Bank of India (IDBI) came into existence in 1964 to promote long-term financing for infrastructure projects and industry.   

PM Modi Reconstituted the 7 Member EAC to PM for 2 years; Bibek Debroy retained as headPrime Minister (PM) Narendra Modi has approved to reconstitute the 7 member Economic Advisory Council (EAC) to the Prime Minister (EAC-PM) following the end of its tenure in September 2021. The EAC-PM has been reconstituted for a period of two years or until further orders.

• Noted economist and NITI Aayog member Bibek Debroy who has been serving as the chairman of EAC-PM since 2017 will continue as the Chairman of the reconstituted EAC-PM.

Part-Time members:
PM Modi has inducted 3 new part-time members for a period of 2 years, they are,

• Rakesh Mohan, former deputy governor of Reserve Bank of India
• T.T Ram Mohan, Professor of IIM Ahmedabad
• Poonam Gupta, Director-General of National Council of Applied Economic Research (NCAER).

Other part-time members:

• Sajid Chenoy, J.P. Morgan’s Chief India Economist
• Neelkanth Mishra co-head of Asia Pacific Strategy and India Strategist for Credit Suisse.
• Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Co. Ltd

Note:
The part-time members of EAC-PM may be paid Rs.10000 per day of sitting.
About EAC-PM:
i.The office space and other facilities of EAC-PM are provided by the Niti Aayog in Niti Aayog Bhawan, New Delhi.
ii.It was set up in September 2017 with a term of two years, and was reconstituted previously in 2019.
iii.It was established replacing the erstwhile PMEAC headed by former Reserve Bank of India(RBI) governor C Rangarajan during the term of former PM Manmohan Singh.
Functions of EAC-PM:

• To analyse any issue, economic or otherwise, referred to it by the PM and advise him
• Address the issues of macro-economic importance and present the views to the prime minister.
• Attend to any other task as may be desired by the PM.

RBI Approves Appointment of Baldev Prakash as J&K Bank MD & CEOThe Reserve Bank of India (RBI) has approved the appointment of Baldev Prakash as the  next Managing Director and Chief Executive Officer (CEO) of Jammu & Kashmir (J&K) Bank for 3 years from April 10, 2022. Presently, RK Chhibber is the Chairman and Managing Director of J&K Bank.
About Baldev Prakash
i.Baldev Prakash was working with State Bank of India (SBI)  in various capacities including as Chief General Manager (Digital and Transaction Banking Marketing). ii.Prakash has over 30 years of experience in banking in various roles at small and large size branches at SBI. He had joined SBI as a probationary officer in 1991
iii.Prakash has worked for over four years at Muscat (Sultanate of Oman) responsible for handling remittances business including treasury operations.
About Jammu & Kashmir Bank
Headquarters: Srinagar
Founded: 1 October 1938
Tagline: ‘’Serving to Empower’’

Subhash Chandra Khuntia Appointed as Part-Time Chairman of Jana SFB

Subhash Chandra Khuntia, a 1981 batch IAS officer has been appointed as the part-time Chairman of the Jana Small Finance Bank(SFB). He has served as the Chairman of the Insurance Regulatory and Development Authority of India(IRDAI) from 2018 to May 2021.

ACQUISITIONS & MERGERS 

Swiss Re takes 23 % Stake in Paytm Insuretech for INR 920 crorePaytm Insuretech Limited ( PIT), an associate of Paytm, entered into a strategic partnership with Swiss Re. The Swiss Re will invest approximately INR 920 crore  to buy 23% stake in Paytm Insuretech. Through an investment in PIT, Swiss Re and Paytm will work towards closing the insurance protection gap in the market.
Key points
i.In the scheme of arrangement, INR 397 crore will be paid upfront, and the remaining in tranches.
ii.Swiss Re is investing alongside Paytm. The investment by Swiss Re and the acquisition of Raheja QBE by Paytm Insuretech are subject to regulatory approvals.
iii.According to RedSeer data, the Gross written premium for non-life insurance is expected to increase from USD 27 billion as of financial year (FY) 2021 to USD 50-60 billion FY 2026.
About Swiss Re
Chairman : Sergio P. Ermotti
Headquarters: Zurich, Switzerland
Founded: 19 December 1863
AboutPaytm
CEO: Vijay Shekhar Sharma
Headquarters: Noida, Uttar Pradesh       

SCIENCE & TECHNOLOGY

India Successfully Test-fires Agni 5 Missile off the Coast of Odisha India successfully test-fired nuclear-capable ballistic missile Agni-5, which has a strike range of 5,000 km, from Dr Abdul Kalam island off the Odisha coast.

• The Agni 5 missile test aligns with India’s policy to have a ‘credible minimum deterrence’ that underpins the commitment to ‘No First Use’.
• Agni P was the most advanced missile in the Agni series, which was developed with the cutting-edge technologies used in 4000-km range Agni-IV and 5000-km Agni-V missiles.
• India is developing a new class of ultra-modern weapons that can travel six times faster than the speed of sound (Mach 6) and penetrate any missile defence.

About Agni Series missile
i.The Agni series of ballistic missiles and warplanes such as Rafales, Sukhoi-30s and Mirage-2000s can deliver nuclear warheads.
ii.Range of other Agni Missiles:

• Agni I – Range of 700-800 km.
• Agni II – Range more than 2000 km.
• Agni III – Range of more than 2,500 Km
• Agni IV – Range is more than 3,500 km and can fire from a road mobile launcher.
• Agni-V – The longest of the Agni series, an Inter-Continental Ballistic Missile (ICBM) with a range of over 5,000 km.

South Korea Builds World’s Largest Hydrogen Fuel Cell Power PlantThe Ministry of Trade, Industry and Energy of South Korea held that the ‘Shinincheon Bitdream Fuel Cell Power Plant’ at the Shinincheon Bitdream headquarters of Korea Southern Power in Seo-gu, Incheon has been completed and inaugurated.

• The power plant is operated by South Korea’s independent power production company, POSCO Energy and Doosan Fuel Cell.
• It has a capacity of 78 MW constructed in four stages from 2017.
• The project cost about 340 billion won ($292 million).

Key points
i.The world’s largest hydrogen fuel cell power plant is capable of providing electricity to around 250,000 households per year.
ii.Hydrogen fuel cells are the solutions for eco-friendly power plants as they can generate electricity without producing harmful emissions.
iii.Hydrogen fuel cells are the solutions for eco-friendly power plants as they can generate electricity by emitting very little amount of harmful gases like Nitrous Oxide (NO) and Sulfur Oxide (SO).
About South Korea
Capital – Seoul
President – Moon Jae-in
Currency – Korean Republic Won (KRW)

China successfully launches optical remote sensing satellite ‘Jilin-1 Gaofen 02F’On October 27, 2021, China successfully launched an optical remote sensing satellite namely ‘Jilin-1 Gaofen 02F’ from a low-cost small, solid-fuel carrier rocket Kuaizhou-1A (KZ-1A) in the Jilin-1 Earth-imaging constellation.

• It was launched from the Jiuquan Satellite Launch Center in the northwestern Gansu Province.
• The Jilin-1 constellation will consist of up to 138 satellites by the end of the decade. It will contain different types of satellites to perform different roles.

Points to be noted:
i.Jilin-1 Gaofen 02F will provide high-resolution images and high-speed data transmission.
ii.Kuaizhou-1A is a low-cost small solid-fuel carrier rocket with a short preparation period. Developed by the China Aerospace Science and Industry Corporation, it is designed to launch low-orbit satellites weighing less than 300 kg.

SPORTS

AFI enter into Commercial Partnership with IOS Sports for 3-yearsIn October 2021, the Athletics Federation of India (AFI) entered into a partnership with IOS Sports and Entertainment Pvt. Ltd for a period of 3-years. IOS Sport will act as exclusive commercial partner of AFI for brand building & unlocking the commercial assets of AFI by making partnerships with top sports brands.
i. IOS Sports is one of India’s leading sports management organisations that will work on commercial promotions of AFI for 3-year ahead of the upcoming 2024 Paris Olympics.
ii. The company will elevate the profile of all Olympic athletes associated with AFI, including Dutee Chand, Hima Das, Neeraj Chopra, Kamalpreet Kaur among others, for commercial promotion of AFI.
iii. This partnership will help AFI in providing the necessary support for the athletes to create a new era of Indian athletic ecosystem.
About IOS Sports and Entertainment:
MD & CEO – Neerav Tomar
Headquarter – New Delhi & Mumbai
Established – 2005
About Athletics Federation of India (AFI):
President – Adille Sumariwalla (represented India in 1980 Olympics in 100m running event)
Founded – 1946
Anju Bobby George is the current & 1st female Vice-President of AFI
Headquarter – New Delhi

OBITUARY

Eminent Oncologist Padma Shri Dr Madhavan Krishnan Nair Passed AwayPadma Shri Dr Madhavan Krishnan Nair (M Krishnan Nair), an eminent Oncologist and the founding director of the Regional Cancer Centre(RCC), Thiruvananthapuram, Kerala has passed away due to age-related ailments at his residence in Thiruvananthapuram, Kerala.
He was born in 1939 in Peroorkada in Thiruvananthapuram, Kerala.
About Dr M Krishnan Nair:
i.Dr M Krishnan Nair has served as a member of the expert group that prepared the National Cancer Control Plan of India.
ii.He has also served on the Expert Advisory Panel on Cancer of the World Health Organization(WHO).
iii.He was known for establishing one of the largest comprehensive cancer centres (RCC Thiruvananthapuram) in India.
iv.He made pioneering contributions in Community Oncology, Pain and Palliative Care, and Paediatric Oncology.
Honours:
i.The Government of India has honoured him with the Padma Shri for medicine in 2001.
ii.He has also been honoured with several awards such as Pasupathy Nath Wahi Cancer Award and Bhishmacharya Award.

IMPORTANT DAYS

International Animation Day 2021 – October 28 International Animation Day (IAD) is annually observed across the globe on October 28th to commemorate the first public performance of projected moving images at Reynaud’s Theatre Optique in Paris, France on 28th October 1892. 
The day is annually coordinated by the Association Internationale du Film d’Animation (ASIFA) – International Animated Film Association.
28th October 2021 marks the observance of the 20th International Animation Day (IAD). 
Background:
i.In 2002 the Association Internationale du Film d’Animation(ASIFA) decided to observe the 28th October of every year as the International Animation Day to mark the birth of animation.
ii.The first International Animation Day (IAD) was observed on 28th October 2002. 
2021 IAD Poster:
i.The 2021 IAD Poster was designed by Maryam Mohajer, a British-Iranian, BAFTA Winning animator-director.
About Association Internationale du Film d’Animation (ASIFA):
ASIFA International is the oldest organisation globally that supports animation and a commitment to the welfare of art, creativity and the artist.
ASIFA is affiliated with UNESCO (the United Nations Educational Scientific and Cultural Organization).
President– Sayoko Kinoshita
Founded in 1960 in Annecy, France
>>Read Full News

8th India Sweden Innovation Day – 26th October 2021 The 8th India Sweden Innovation Day was observed on 26th October 2021 with a focus on various aspects of climate change and the possible solutions to enable green transition.
The 8th India Sweden Innovation Day was hosted by India Unlimited in association with the Embassy of India in Sweden, Sweden-India Business Council and Confederation of Indian Industry (CII).

• The 7th India Sweden Innovation Day was observed on 27th November 2020. 
• The 6th India Sweden Innovation Day was observed on 9th September 2019. 

The theme/online event theme of 8th India Sweden Innovation Day is “Accelerating India Sweden’s green Transition”.  
Online Event:
The sessions of the online event organised as a part of the 8th India Sweden Innovation Day include the exchange of ideas over the implementation of digital technology and Artificial Intelligence to introduce climate-friendly solutions.
Key People:

• Dr Jitendra Singh, Minister of State (Independent Charge) of Science and Technology, Government of India.
• Ibrahim Baylan, Minister for Business, Industry and Innovation, Government of Sweden.

India Sweden Relations:
i.The relationship between India and Sweden was established in 1949.
ii.The first ever India Friendship Group was set up in Swedish Parliament in
February 2006, and an India Sweden Friendship group has also been established in the Indian Parliament.
iii.Science and Technology cooperation between the 2 nations is an important component of the bilateral cooperation, which was initiated through the Bilateral Science & Technology Agreement signed on 9th December 2005.

STATE NEWS

BSE sign MoU  with Chhattisgarh Govt to Promote Listing of SMEs

 The Bombay Stock Exchange (BSE), has signed a Memorandum of Understanding (MoU) with the Government of Chhattisgarh to spread awareness about the benefits of listing SMEs (Small Medium Enterprises).
Objective
To help the SMEs of the states in getting equity financing and to boost the income of the state and create employment.
Key points
i.BSE will provide intellectual and manpower support to create awareness about the benefits of listing among SMEs and also provide training and capacity building support to District Industries Centre officials of the Government of Chhattisgarh.
ii.The Department of Industries and Commerce in collaboration will provide support in mobilizing the SME representatives through the District Industries Centre.
iii.DICC will also help in mobilising the state/regional associations/chambers to encourage their SME members to attend capacity building programs.
About Chhattisgarh
Festival : Bastar Dussehra, Bastar Lokotsav, Fagun Wadai
Dance: Saila Dance, Karma, Sua Nacha

*******

Click Here View – AC Excluded News 2021

Current Affairs Today (AffairsCloud Today)