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NATIONAL AFFAIRS
PM Narendra Modi inaugurates Kanpur Metro Rail Project & Bina-Panki Multiproduct Pipeline Project in Kanpur, UP
ii.The PM inaugurated the completed 9 km long priority section of Corridor-1 of the project from IIT Kanpur to Moti Jheel (9 elevated stations). All the 9 stations of this have been certified with platinum rating of Green Building Council because the entire 9Km stretch has been developed in accordance with the green building codes.
iii.The PM also inaugurated the 356 Km long Bina (Madhya Pradesh-MP)-Panki (Kanpur, UP) Multiproduct pipeline project with an outlay of Rs 1524 crore (Rs. 1227 crore in UP and Rs. 297 crore in MP).
iv.The PM attended the 54th Convocation of IIT Kanpur as Chief Guest. During the convocation, all the students were issued digital degrees through an in-house blockchain-driven technology.
About Uttar Pradesh (UP):
Airport– Kushinagar International Airport, Gorakhpur airport, Agra Airport (Pandit Deen Dayal Upadhyaya Airport)
Heritage site – Agra fort (1983) , Taj Mahal (1983), Fatehpur Sikri (1986)
Bird Sanctuary– Nawabganj Bird Sanctuary, Sur Sarovar (Keetham) Bird Sanctuary
>> Read Full News
Indian Army Established Quantum Lab at MCTE, Mhow in Indore, MP
This is a part of the Indian army’s development in the field of Emerging Technology domain.
- Indian Army has also established an Artificial Intelligence (AI) Centre at the MCTE, Mhow with more than 140 deployments in forward areas and active support of industry and academia.
- Through the state of the art cyber range and cyber security labs, training on cyber warfare will be provided.
Background:
The ideation of the involvement of the Army in Electromagnetic Spectrum Operations was done during the seminar on Electromagnetic Spectrum and National Security organised by National Security Council Secretariat in October 2020.
Since then the Indian Army’s Technology Institutions has been driven to invest in AI, Quantum and Cyber.
Quantum Technology:
The researches undertaken by the Indian Army in the field of Quantum Technology will advance into next generation communication and transform the current system of cryptography in the Indian Armed Forces to Post Quantum Cryptography (PQC).
Key Areas:
- Quantum Key Distribution,
- Quantum Communication,
- Quantum Computing
- Post Quantum Cryptography
Key Points:
The multi-stakeholder approach of the Indian army in incorporating academia such as The Indian Institutes of Technology (IITs), Defence Research and Development Organisation (DRDO) organisations, Research Institutes, Corporate firms, startups sets an example of Civil-Military fusion with Atmanirbhar Bharat a key driving factor.
About Indian Army:
Chief of the Army Staff– General Manoj Mukund Naravane
BANKING & FINANCE
RBI’s Report on Banking in India 2020-21: GNPAs of Banks dipped to 6.9% by September 2021
Key Points of the report:
i.The gross non-performing assets (GNPA) ratio of SCBs (Scheduled Commercial Banks) declined from 8.2% at end of March 2020 to 6.9% at end-September 2021.
ii.The share of RSA (Restructured Advances) has increased to 1.8 percent at end September 2021 (from 0.8 percent as at end-March 2021 and 0.4 percent at end-March 2020) due to the restructuring scheme 2.0 for retail loans and MSMEs which does not entail an asset classification downgrade.
iii.The increased in deposit insurance from Rs 1 lakh to Rs 5 lakh augmented the share of co-operative depositors’ coverage from 42.7 percent (at end March 2019) to 69.4 percent (at end-March 2021).
iv.The report is a statutory publication in compliance with Section 36 (2) of the Banking Regulation Act, 1949.
About Reserve Bank of India’s (RBI):
Establishment – April 1, 1935
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
Deputy Governors – Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
>> Read Full News
SEBI Board approves Changes to IPOs & Preferential Issues
1.Amendments to SEBI ICDR Regulations, 2018
2.Appointment of persons who had failed to get elected as Directors
3.Amendments to SEBI (Alternative Investment Funds) Regulations, 2012
4.Amendments to MF (Mutual Fund) Regulations
5.Amendments to SEBI {KYC (Know Your Client) Registration Agency} Regulations, 2011
6.Amendments to the SEBI (Stock Brokers) Regulations, 1992 and SEBI (Depository and Participants) Regulations, 2018
7.Amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
8.Amendments to SEBI (Foreign Portfolio Investors) Regulations, 2019
9.Amendments to SEBI (Settlement Proceedings) Regulations, 2018
About Securities and Exchange Board of India (SEBI):
Establishment– 1992
Headquarter– Mumbai, Maharashtra
>> Read Full News
Central Bank of India & NPCI Jointly Launches RuPay Debit Card for Corporates
- Domestic – The card offers an ATM withdrawal limit of Rs.1 lakh along with a purchase of up to Rs.3 lakh at Point on Sale (POS) or E-Commerce.
- International – The card users can also withdraw up to Rs. 75,000 at ATMs abroad and perform purchases globally worth up to Rs. 3 lakh at Point On Sale (POS) or E-Commerce and international online merchants.
Other Benefits:
i.Purchase Protection coverage of Rs. 2 lakh
ii.Accidental death coverage worth Rs. 10 lakh
iii.Air accident coverage Rs. 20 lakh
Note – The cardholders will earn reward points on every purchase.
Key Points:
i.The cardholders will have access to domestic and international airport lounges twice per quarter and two times a year.
ii.The cardholders can maintain their personal and business accounts separately and can also enable digital footprints to various Business/MSME customers.
About National Payments Corporation of India (NPCI):
CEO & MD – Dilip Asbe
Established – 2008
Headquarters – Mumbai, Maharashtra
About Central Bank of India:
CEO & MD – M.V. Rao
Established – 1911
Headquarters – Mumbai, Maharashtra
Tagline – ‘Central’ to you since 1911
RBI Extends Direction for PMC Bank till March 2022
- In exercise of the powers conferred on it by Sub–section (4) of Section 45 read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India had prepared a draft scheme of amalgamation of The Punjab and Maharashtra Cooperative (PMC) Bank with Unity Small Finance Bank Ltd. (USFB).
- The draft scheme was placed in public domain on November 22, 2021 inviting suggestions and objections, till December 10, 2021, from members, depositors and other creditors of transferor bank (PMC) and transferee bank (USFB) in terms of Section 45(6)(b) of the Act ibid. Further action with regard to sanction of the scheme is under process.
Background:
i.Punjab and Maharashtra Cooperative (PMC) Bank Limited, Mumbai, Maharashtra, a Multi-State Urban Cooperative Bank was placed under All-Inclusive Directions under Sub-section (1) of Section 35-A read with Section 56 of the Banking Regulation Act, 1949 with effect from close of business on September 23, 2019.
Amount Distribution:
Under the scheme, the depositors will get their full amount back over a period of 10 years. In the initial phase, the bank will pay an amount insured under DICGC (Deposit Insurance and Credit Guarantee Corporation) of up to Rs 5 lakhs to depositors.
- Later, at the end of two years, the Bank will pay up to Rs 50,000, and up to Rs 1 lakh at the end of three years, upto Rs 3 lakhs at the end of four years, upto Rs 5.5 lakhs at the end five years and the full amount will be paid after ten years.
- The interest on any of the interest bearing deposits with the Bank will not accrue after March 31, 2021.
About Unity Small Finance Bank (USFB):
USFB is promoted by Centrum Financial Services with Resilient Innovation Pvt Ltd as the ‘joint investor’.
Started operation-2021
ICICI Prudential Life Insurance launches “ICICI Pru iProtect Return of Premium” 
Key points:
i.The new policy is auto-adjustable the life cover based on the changing life-stages of the insured customers and It offers an option to take cover against 64 critical illnesses.
ii.The policy offers two variants – life stage cover and level cover.
iii.The Life-Stage Cover auto adjusts the sum assured or life cover based on the life stage of a customer. It enables customers to increase their life cover when it matters the most as responsibilities grow in initial stages. Also, it automatically reduces the life cover as responsibilities reduce in later life.
iv.The Level Cover variant is ideal for individuals looking for a term insurance plan that offers a survival benefit along with a fixed death benefit.
About ICICI Prudential Life Insurance:
Chairman- M. S. Ramachandran
Commenced Operation- 2000
ECONOMY & BUSINESS
ICRA Projected India’s Real GDP Growth to 9% in FY22 & FY23
- The Agency is expecting the Cost Price Inflation (CPI) to an average of 4.5-5.0 Percent in FY23 from 5.5 Percent in FY22.
- The current account deficit is also projected to increase in Q3 FY22.
- The net loss to the Indian economy (due to COVID-19) during FY 2021-23 is estimated at Rs 39.3 lakh crore, in real terms.
Key Points:
i.In Q2 FY2022, the volumes of 7 of the 13 high frequency indicators rose above their pre-COVID-19 levels in October-November 2021.
- This includes GST e-way bills generation (+26.7%), non-oil exports (+26.0%), rail freight traffic (+20.2%), Coal India Limited output (+15.7%), electricity generation (+9.9%), petrol consumption (+6.4%) and ports cargo traffic (+4.0%).
ii.The volumes of 6 of the 13 high frequency indicators contracted in October-November 2021.
- This includes scooter production (-25.1%), domestic airline passenger traffic (-22.8%), vehicle registration (-22.8%), diesel consumption (-6.8%), passenger vehicle (PV) production (-3.1%) and motorcycle production (-2.6%).
Note – The GDP expansion was expected with a K-shaped divergence amongst the formal and informal sectors of the economy.
About The Information and Credit Rating agency (ICRA):
It is owned by Moody’s Corporation
Establishment – 1991
Headquarters – Gurgaon, Haryana
CEO & MD – N. Sivaraman
India’s Green Energy Economy Gets $7.27 Billion FDI since 2014-15
- According to the Ministry of New and Renewable Energy (MNRE) , out of $7.27 billion FDI, $797.21 million was received during 2020-21.
- India’s renewable energy programme is driven by private sector investment.
Highlights:
i.As per REN21 Renewables 2020 Global status Report, during 2014 -2019 renewable energy programmes and projects in India attracted an investment of $64.4 billion ($11.2 billion has been invested in 2019 alone).
ii.India’s installed Renewable Energy (RE) capacity stands at 150.54 GW while its nuclear energy based installed electricity capacity stands at 6.78 GW.
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
AWARDS & RECOGNITION
PETA India has Named Actress Alia Bhatt as “Person of the Year 2021”
Efforts of Alia Bhatt:
i.Alia Bhatt has invested in Phool.co, an Indian Institute of Technology (IIT) Kanpur-backed biomaterial startup, that develops ‘fleather’ – bio-degradable vegan leather.
ii.She has also launched her vegan kidswear line, Ed-a-Mamma, which won the PETA India’s Best Vegan Kidswear Brand 2021.
iii.In 2017 she launched Coexist, an animal welfare platform to educate communities to build a future where humans and nature can live in harmony.
Other PETA Titles:
PETA has recognised actors Akshay Kumar and Bhumi Pednekar as the ‘Most Beautiful Vegetarian celebrity’ of 2021.
About People for the Ethical Treatment of Animals (PETA) India :
Launched in 2000
Headquarters– Mumbai, Maharashtra
APPOINTMENTS & RESIGNATIONS
Vasudevan reappointed as MD & CEO of Equitas Small Finance Bank for 3 years
About Vasudevan Pathangi Narasimhan (PN):
i.Vasudevan PN is currently serving as the MD and CEO of the bank. Earlier he was working as the MD of Equitas Holdings Limited.
ii.He is a science graduate (physics) from University of Madras and a qualified company secretary from the Institute of Company Secretaries of India (ICSI).
iii.He has the experience of 20 years in Cholamandalam Investment and Finance Company Limited.
Related information:
In December 2021, Equitas Small Finance Bank Limited signed a partnership agreement with the Government of Maharashtra to offer banking services to the state government employees.
About Equitas Small Finance Bank Limited:
Part Time Chairman- Arun Ramanathan
Headquarters– Chennai, Tamil Nadu
EaseMyTrip Appointed Actors Vijay Raaz & Varun Sharma as Brand Ambassadors
- EaseMyTrip founded by Nishant Pitti and Rikant Pitti in 2008 was started as the Business-to-Business (B2B) portal and entered into the business to consumer(B2C) segment in 2011.
About Vijay Raaz:
i.Vijay Raaz is an Indian actor, director, film narrator and comedian from Delhi.
ii.He made his debut as a director in 2014 with the film ‘Kya Dilli Kya Lahore’.
iii.He has worked in different languages like Hindi, Tamil, and Malayalam.
iv.He has won the Jury Prize for Best Actor, for the film Raghu Romeo, in the Dhaka International Film Festival 2004.
About Varun Sharma:
Varun Sharma is an Indian actor from Punjab, who has starred in several hindi movies such as Fukrey, chhichhore, Roohi among others.
About EaseMyTrip:
CEO– Nishant Pitti
Headquarters– New Delhi, Delhi
Founded in 2008
SCIENCE & TECHNOLOGY
Russia Launched 1st Versatile Nuclear Powered Icebreaker ‘Sibir’ to Boost India’s Arctic Plans via NSR
About ‘Sibir’:
i.The construction of Sibir was started in 2015 and the icebreaker was floated on 22nd December 2017.
ii.Sibir was handed over to the Rosatom State Atomiс Energy Corporation for exploitation; the Delivery-Acceptance Act was signed on 24th December at Baltic Shipyard, St. Petersburg, Russia.
Project 22220:
i.The icebreaker is 173.3 meters (568.6 feet) long and 34 meters broad with a 33,500-tonne displacement.
ii.Project 22220 icebreakers will help to unleash the traffic potential of the Northern Sea Route.
India-Russia collaboration in the Arctic:
India expressed its interest in collaborating with Russia on the Northern Sea route during the 21st India Russia Summit held on 6 December 2021, in New Delhi.
Note:
The Barents area in the Arctic region has some of the best-known mineral deposits and the world’s best deep harbours.
Russia’s nuclear-powered icebreakers:
i.At present Russia has a fleet of 6 nuclear power icebreakers namely, ‘Taymyr’, ‘Vaygash’, ‘50 Let Pobedy’, ‘Yamal’, ‘Arktika’ and ‘Sibir’.
ii.Russia also has a nuclear-powered cargo Ship named “Sevmorput” which belongs to the Rosatomflot’s fleet based in Murmansk, Russia.
ii.Nuclear icebreakers, Ural, Yakutia, and Chukotka, are now being built in St. Petersburg.
About Arctic Council:
Current Chair– Russia
Members– 8 Arctic states, 6 indigenous permanent participants, 6 Working Groups & 38 Observers .
Established on 19th September 1996
Headquarters– Tromsø, Norway
Russia Successfully Launched 3rd & Final Demonstration Mission of Angara A5 Rocket
Russia has successfully launched its 3rd and final demonstration flight of the Angara-A5/Persey rocket from the state test cosmodrome of the Russian Defence Ministry – Site 35/1 Plesetsk cosmodrome, Mirny, Arkhangelsk Oblast, Russia.
- The Angara is being developed and built by the Khrunichev State Research and Production Space Center in Moscow, Russia.
- This marks the 3rd launch of the rocket after its maiden launch in 2014.
About Angara A5:
i.The Angara is aimed to replace several existing launch vehicles including the Proton-M, Zenit and Rokot and ensure independent Russian access to the geosynchronous orbit from Plesetsk.
ii.The 210ft Angara A5, weighing 761 tons, was launched with a mockpayload.
Angara A5 uses 5 Universal Rocket module(URM-1), with four URM-1s strapped around the center core as boosters. The URM-1 is powered by a single RD-191, burning Liquid oxygen (LOX) and kerosene.
iii.The second stage of Angara is the URM-2, and uses a RD-0124A
iv.Angara A5 uses a 3.6-meter diameter URM-2.
v.Angara A5 won’t use a third stage while delivering payloads to LEO but will use one when delivering payloads to higher energy orbits.
Angara Launch Vehicles:
i.The Angara Space Launch System (Angara SLS) is a family of modular launch vehicles developed on the basis of URM (Unified Rocket Modules), Common Core Booster (CCB), using LOX/kerosene engines.
ii.The Angara product line includes small-lit to heavy-lift launchers featuring Low Earth Orbit(LEO) payload capabilities of 3.5 MT to 38 MT (Angara A5V).
iii.The core of Angara rocket is the Universal Rocket module, or URM-1, Angara 1.2 uses a single URB-1.
iv.One URM-1 is used by the small-lift Angara 1.2 LV and Angara 5 uses the maximum number of URM-1common core boosters.
About Russia:
President– Vladimir Putin
Prime minister– Mikhail Mishustin
Capital– Moscow
Currency– Russian Ruble
OBITUARY
Scientist E.O. Wilson, dubbed modern-day Darwin passed away
- He was fondly called as “the father of sociobiology” and “the father of biodiversity” for his environmental advocacy, and his secular-humanist and deist ideas pertaining to religious and ethical matters.
i.E.O. Wilson, whose study of insects and clarion call to protect earth earned him the nickname “Darwin’s natural heir”.
ii.He is considered the world’s leading authority on ants and their behaviour.
iii.Early in his career, he broadened his scope immensely, studying insects and social interactions of birds, mammals and humans. He established a new field of science known as ‘sociobiology’.
iv.He was the author of hundreds of scientific papers named as ‘Sociobiology: the New Synthesis’, ’Half Earth’ etc.
Awards: In 1979, “On Human Nature” — the third volume in a series including “The Insect Societies” and “Sociobiology” — earned Wilson his first Pulitzer Prize. He also won the Pulitzer Prize for The Ants (with Bert Hölldobler) in 1991.
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Current Affairs Today (AffairsCloud Today)
| S.no | Current Affairs 30 December 2021 |
|---|---|
| 1 | PM Narendra Modi inaugurates Kanpur Metro Rail Project & Bina-Panki Multiproduct Pipeline Project in Kanpur, UP |
| 2 | Indian Army Established Quantum Lab at MCTE, Mhow in Indore, MP |
| 3 | RBI’s Report on Banking in India 2020-21: GNPAs of Banks dipped to 6.9% by September 2021 |
| 4 | SEBI Board approves Changes to IPOs & Preferential Issues |
| 5 | Central Bank of India & NPCI Jointly Launches RuPay Debit Card for Corporates |
| 6 | RBI Extends Direction for PMC Bank till March 2022 |
| 7 | ICICI Prudential Life Insurance launches ICICI Pru iProtect New Term over |
| 8 | ICRA Projected India’s Real GDP Growth to 9% in FY22 & FY23 |
| 9 | India’s Green Energy Economy Gets $7.27 Billion FDI since 2014-15 |
| 10 | PETA India has Named Actress Alia Bhatt as “Person of the Year 2021” |
| 11 | Vasudevan reappointed as MD & CEO of Equitas Small Finance Bank for 3 years |
| 12 | EaseMyTrip Appointed Actors Vijay Raaz & Varun Sharma as Brand Ambassadors |
| 13 | Russia Launched Nuclear Powered Icebreaker ‘Sibir’ to Boost India’s Arctic Plans via Northern Sea route |
| 14 | Russia Successfully Launched 3rd & Final Demonstration Mission of Angara A5 Rocket |
| 15 | Scientist E.O. Wilson, dubbed modern-day Darwin passed away |
