Current Affairs 8 January 2021

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Top 20 Current Affairs of 8 January 2021

NATIONAL AFFAIRS

Harsh Vardhan released LASI Wave-1 Report 2020: India’s 1^st Survey Providing Longitudinal Database of Older Populationi.On January 6, 2021, Union Minister Dr. Harsh Vardhan, Ministry of Health & Family Welfare (MoH&FW) virtually released the Longitudinal Ageing Study in India (LASI) Wave-1 Report 2020 based on full–scale national. It is India’s first and the world’s largest survey providing base for designing national and state level programmes and policies for ageing population in India.
ii.This report is also a step towards Ayushman Bharat Yojana which focuses on expansion of the healthcare facilities.
iii.The information obtained from LASI has covered four domains viz. Health, Health care and Health care financing, Economic, and Social.
iv.It should be noted that LASI is a Government of India’s (GoI) initiative towards Better Health Care for Elderly People.

• Andhra Pradesh (AP) topped the Measured prevalence (%) of low vision (near and/or distance) among elderly age 60 and above with 66.4%.
• Uttar Pradesh (UP) topped the Prevalence (%) of blindness among elderly age 60 and above.
• Chhattisgarh topped in the prevalence of undernutrition (underweight) among older adults aged 45 and above.
• Chandigarh has maximum prevalence of overnutrition (overweight/obesity) among older adults aged 45 and above.

About Ministry of Health & Family Welfare (MoHFW):
Harsh Vardhan Constituency– Chandni Chowk, New Delhi
Minister of State (MoS)– Ashwini Kumar Choubey
<<Read Full News>>

IAF signs MoU with IDSR for Academic CollaborationIndian Air Force (IAF) and Institute of Defence Studies and Research (IDSR), Autonomous Institution of Gujarat University have signed a Memorandum of Understanding (MoU) to enable IAF officers to enroll for higher studies in the IDSR Institute. The MoU has been signed as part of IAF’s Project Akashdeep.
i.Officers will be able to undertake Doctoral Research, Post-Graduate Programme & Post Graduate Diploma in the areas of Defence Studies, Defence Management, National Security, Aerospace & Aviation Science and other areas of Defence Technology.
ii.The Partnership will help the officers to develop strategic knowledge & intellectual skills, which will contribute towards formulation of strategic plan and policies in the advent of hybrid Military Operations.
Akashdeep Program:
i.It is a program for Airmen in IAF and  was launched to recognize the Basic & In-service training which are imparted to Airmen & Non-Combatants Enrolled (NCs (E)) of IAF for award of civil qualifications.
About Institute of Defence Studies and Research (IDSR), Gujarat:
Director – Dr Shiva Prasad
Situated at Ahmedabad, Gujarat
About Indian Air Force:
Chief of the Air Staff – Rakesh Kumar Singh Bhadauria
Headquarters – New Delhi
<<Read Full News>>

CCEA Approved Central Sector Scheme for 17 Years for Industrial Development of J&Ki.On January 6, 2021, the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister (PM) Narendra Modi has approved the Central Sector Scheme (CSS) namely “New Industrial Development Scheme for Jammu & Kashmir (J&K IDS, 2021)” for Industrial Development of Jammu & Kashmir (J&K). The information for the same was provided by Lieutenant Governor of J&K during a press conference in Jammu.
ii.The scheme proposed by Department for Promotion of Industry and Internal Trade (DPIIT) has been approved with a total outlay of Rs. 28,400 crore upto the year 2037.
iii.The package will remain in force for 17 years i.e. 2020-21 to 2036-37.
iii.So far, the amount disbursed under various special package schemes is Rs. 1,123.84 crore.
About Jammu & Kashmir:
National Parks-3: Kazinag National Park, Dachigam National Park, Kishtwar High Altitude National Park
Hydro Projects– Ratle Hydroelectric project (River Chenab), Kiru hydro-electric project (River Chenab), Pakal Dul (Drangdhuran) Hydroelectric Project (River Marusudar)
State Animal– Hangul
State Tree– Chinar
<<Read Full News>>

PM Inaugurates Rewari-Madar Freight Corridor Section of WDFC; flags off World’s 1st Double Stack Container TrainOn January 7, 2021, Prime Minister (PM) Narendra Modi virtually inaugurated the 306-Km long New Rewari in Haryana-New Madar in Rajasthan section of Western Dedicated Freight Corridor (WDFC) & flagged off the World’s 1st Double Stack Long Haul 1.5 Km Container Train hauled by electric traction from Atela in Haryana – Kishangarh in Rajasthan.
New Rewari-New Madar Section of WDFC:
i.It will ensure interruption free connectivity with the western ports of Kandla, Pipavav, Mundhra, and Dahej in Gujarat.
ii.The section will also ensure the successful connectivity between the WDFC & EDFC (Eastern Dedicated Freight Corridor).
iii.Japan International Cooperation Agency is funding WDFC.
Double Stack Long Haul Container Train Operation:
i.It has been designed by the Research Design & Standards Organisation (RDSO) wagon department for the Dedicated Freight Corridor Corporation of India (DFCCIL).
ii.In terms of container units, the wagons will carry 4 times more weight compared to the current capacity.
About Dedicated Freight Corridor Corporation of India Limited (DFCCIL):
Managing Director – Ravindra Kumar Jain
Headquarters – New Delhi
<<Read Full News>>

NHAI set to operationalise India’s 1st Government Sponsored InvIT by  March, 2021National Highways Authority of India (NHAI) is set to operationalise India’s 1st Government Sponsored Infrastructure Investment Trust (InvIT) by March, 2021. Around 5-6 Road Projects worth INR 5, 000 crore have been given in-principle approval for transfer to the InvIT.
i.The Union Cabinet approved NHAI’s proposal to float InvIT in December, 2019.
ii.InvIT – It is an Collective Investment Scheme through which individuals & institutional investors can invest in Infrastructure projects and earn a small portion of the income as return.
Objective:
The main objective behind setting up of InvIT by NHAI is to monetise its completed and operational national highways projects to mobilise additional resources through capital markets.
InvIT:
i.They are regulated by the SEBI (Securities & Exchange Board of India) (Infrastructure Investment Trusts) Regulations, 2014.
ii.Operational infrastructure assets provide stable & long term yields, InvITs are popular among Long term Global investors
NHAI Appoints B Sriram as Chairman of NHIIMPL:
NHAI appointed Veteran Banker B Sriram as Chairman of its Investment manager company National Highways Infra Investment Managers Pvt Ltd (NHIIMPL).
About National Highways Authority of India (NHAI):
It is an autonomous agency of Government of India & the nodal agency of Ministry of Road Transport & Highways.
Chairman – Sukhbir Singh Sandhu
Headquarters – New Delhi
<<Read Full News>>

World’s Largest Floating Solar Energy Project at MP set to begin Power Generation by 2022-23The World’s Largest Floating 600 Megawatt (MW) Solar Energy Project which is under construction at Omkareshwar dam on Narmada river in Khandwa district of Madhya Pradesh is set to begin power generation by the year 2022-23.
Gist of the Project:
i.The production of electricity will be in about 2000- hectare water areas and the Floating panels will be installed in the backwaters of Omkareshwar dam.
ii.Estimated Investment of the project stands at INR 3, 000 Crore.
iii.International Finance Corporation, World Bank & Power Grid have granted consent to provide funds for the development of the project.
iv.The primary feasibility study for the project has been completed by the State Government in collaboration with the World Bank.
v.The project is expected to provide cheap and good quality power in about 2 years.
About Madhya Pradesh:
RAMSAR Site – Bhoj Wetlands
Dams – Gandhi Sagar Dams (Chambal River), Indira Sagar Dam (Narmada River)
<<Read Full News>>

KVIC signs MoU with ITBP for supply of 1, 72, 000 Cotton Durries every year

Khadi and Village Industries Commission (KVIC) signed a Memorandum of Understanding (MoU) with Indo-Tibet Border Police (ITBP) for supply of 1.72 Lakh Cotton durries every year, which is valued around INR 8.74 crore. The agreement has been signed for one year and will be renewed hereafter. The agreement was signed by Deputy Chief Executive Officer of KVIC & Shri Surjeet Singh Deswal, Deputy Inspector General of Police (DIG), ITBP.

CDSCO Gives Approval to Vaccines of M/s SII & M/s Bharat Biotech

The Committee of Central Drugs Standard Control Organisation (CDSCO) gave approval to M/s Serum Institute of India(SII), Pune, Maharashtra for  Covishield,  a Recombinant Chimpanzee Adenovirus vector vaccine, it encoded the SARS-CoV-2 Spike (S) glycoprotein with technology transfer from AstraZeneca/Oxford University and to M/s Bharat Biotech for COVAXIN, Whole Virion Inactivated Coronavirus Vaccine for restricted use in India in emergency situations. M/s Cadila Healthcare has also been granted approval to conduct Phase III clinical trial of Novel Corona Virus-2019-nCov-Vaccine. These approvals are given by CDSCO on recommendations of the Subject Expert CDSCO. SII partners with  AstraZeneca to manufacture Covishield, while Covaxin has been indigenously developed by Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR).

INTERNATIONAL AFFAIRS

India provides NPR 30.66 Crore for Reconstruction of Earthquake Affected Schools in Nepal On January 6, 2021, India provided a grant assistance of 30.66 Crore Nepalese Rupees (NPR) (~ INR 19.21 Crore) to Nepal for Reconstruction of Educational Institutions damaged during the 2015 earthquake.
i.The cheque was handed over by Namgya Khampa, Deputy Chief of Mission at the Indian Embassy to Sushil Gyawali, Chief Executive Officer (CEO) of Nepal Reconstruction Authority (NRA).
ii.With the handing over of the money, India has reimbursed an amount of NPR 81.98 Crore (~ INR 51.37 Crore) to Nepal for reconstruction projects of the Education Sector.
iii.India has committed  an grant assistance of USD 50 Million towards Reconstruction Projects of Educational Institutions in Nepal.  The projects are located in Gorkha, Nuwakot, Ramechhap, Dolakha, Kavre, Dhading & Sindhupalchowk districts of Nepal.
India’s Grant of NR 44.13 Million to Nepal:
In another separate meeting, India also granted NPR 44.13 Million (~ INR 2.76 crore) to Nepal under Nepal-Bharat Maitri Development Partnership
About Nepal:
Prime Minister – K. P. Sharma Oli
Capital – Kathmandu
President  – Bidya Devi Bhandari
<<Read Full News>>

BANKING & FINANCE

GoI, AP Govt and NDB Signs 2 Loan Agreement Worth USD 646 Million for Upgrading Road Network in APi.On January 6, 2021 Govt of India(GoI), Govt of Andhra Pradesh(AP) and New Development Bank(NDB) signed loan agreement worth USD 646 million(about Rs 4,736 crore) for 2 projects to upgrade State Highway Network and District Road Network in AP.
ii.The Loan amount of USD 323 million(about Rs 2,368 crore) for each project will be given by NDB.
iii.The 2 projects include: Andhra Pradesh Roads and Bridges Reconstruction Project and Andhra Pradesh Mandal Connectivity and Rural Connectivity Improvement Project.
iv.The Roads and Buildings Department of Government of AP will be the Project Implementation Agency.
Note– The tenor of each loan is 32 years, including a moratorium period of 5 years.
About New Development Bank(NDB):
i.During the sixth BRICS (Brazil, Russia, India, China, and South Africa)  Summit in Fortaleza (2014), the leaders signed an Agreement to establish the NDB.
ii.NDB became fully operational on February 27, 2016.
Headquarters- Shanghai, China
Formerly referred as– BRICS Development Bank
President– Marcos Troyjo
<<Read Full News>>

BoB signs MoU with SIDBI to Enable MSMEs Apply Online for One-Time Restructuringi.On January 6, 2021, Bank of Baroda (BoB) has signed a memorandum of understanding (MOU) with the Small Industries Development Bank of India (SIDBI) to enable micro, small and medium enterprises (MSMEs) customers of the former to apply online for one-time restructuring (OTR).
ii.With this, the eligible MSME entities can get credit exposure up to Rs 25 crore.
iii.The restructuring of the borrower account will be implemented by March 31, 2021.
iv.The MSME Customer can now access the web-based portal, ‘Asset Restructuring Module for MSMEs (ARM-MSME)‘.
About Bank of Baroda (BoB):
Vijaya Bank and Dena Bank were merged with BoB
Managing Director (MD) and Chief Executive Officer(CEO)– Sanjiv Chadha
Headquarters– Vadodara (earlier known as Baroda), Gujarat
Founded– 20 July 1908, by Maharaja Sayajirao Gaekwad III of Baroda
Tagline– India’s International Bank
<<Read Full News>>

SMCB Becomes India’s 1st Urban Co-operative Bank to Convert into Small Finance Bank under Voluntary Transition Schemei.The Reserve Bank of India(RBI) has issued a scheduled commercial banking license to Shivalik Mercantile Co-operative Bank (SMCB) Ltd to carry on business as a Small Finance Bank(SFB) under its ‘Scheme on voluntary transition of Urban Co-operative Bank(UCB) into a Small Finance Bank’.
ii.It is the 1st UCB in India to transit to SFB under the scheme. SMCB is renamed as Shivalik Small Finance Bank (SSFB).
iii.The bank expects to commence business as a SFB by April 2021.
About Shivalik Mercantile Co-operative Bank (SMCB) Ltd:
i.It was registered as a Co-operative Society under Uttar Pradesh Co-operative Societies Act, 1965.
ii.In 2010, it acquired Dhar Bank(Madhya Pradesh), which helped the bank to get Multi-state Cooperative Bank status under Multi-State Co-operative Societies Act(MSCS), 2002
Head Office– Saharanpur, UP
Commenced Operations–  September 5, 1998(as Primary Urban Coop. Bank)
MD & CEO– Mr. Suveer Kumar Gupta
Chairman– Yashvir Kumar Gupta
<<Read Full News>>

IRDAI mandates Insurers to offer 3 Standard Insurance Products to Cover Risk of Fired & Allied PerilsInsurance Regulatory and Development Authority of India (IRDAI) has mandated General Insurance Companies to offer 3 standard Insurance Products  namely – Bharat Griha Raksha, Bharat Sookshma Udyam Suraksha & Bharat Laghu Udyam Suraksha to cover risk of fire & allied perils from April 1, 2021.
i.The 3 policies will replace the Standard Fire and Special Perils (SFSP) Policy.
ii.Gist of 3 Policies

• Bharat Griha Raksha (meant for Home Building and Home Contents)
• Bharat Sookshma Udyam Suraksha (meant for enterprises where the total value at risk is upto Rs. 5 Crore)
• Bharat Laghu Udyam Suraksha (meant for enterprises where the total value at risk is more than Rs. 5 Crore and upto Rs. 50 crore).

iii.Bharat Sookshma Udyam Suraksha & Bharat Laghu Udyam Suraksha will be useful for financial protection of Micro, Small & Medium Enterprises (MSMEs).
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairman – Subhash C. Khuntia
Headquarters – Hyderabad, Telangana
<<Read Full News>>

PhonePe in Association with ICICI Prudential Life Insurance Launches Term Life Insurance Plans on its Platformi.On January 6, 2021 PhonePe in partnership with ICICI Prudential Life Insurance  Co Ltd launched Term Life Insurance plans on its platform.
ii.This policy can be availed by PhonePe users instantly on PhonePe app through an all digital process without the need of any health check-ups and paperwork
iii.This plan enables PhonePe users to protect their families from financial turmoil in case of an untimely demise of them.
About PhonePe:
HeadOffice– Bengaluru, Karnataka
Founder & Chief Executive Officer(CEO)– Sameer Nigam
Head of Insurance -Gunjan Ghai
About ICICI Prudential Life Insurance Ltd:
It is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.
Commenced Operations– 2001
HeadOffice– Mumbai, Maharashtra
MD & CEO– N. S. Kannan
<<Read Full News>>

ECONOMY & BUSINESS

FDI Equity Inflows into India grew 21% to USD 35.33 billion during April-October 2020

As per the official data of the Department for Promotion of Industry and Internal Trade (DPIIT) Foreign direct investment (FDI) equity inflows into India grew 21% to USD 35.33 billion(Rs 2.5 lakh crore)during April-October 2020. In 2019, FDI equity inflows were USD 29.31 billion. From January to July 2020-2021, the total FDI (including reinvested earnings) increased 11% to USD 46.82 billion from USD 42.06 billion in April-October 2019. India attracted maximum funds from Singapore, the US, Mauritius, the Netherlands, the UK, France and Japan. The sectors that attracted maximum foreign inflows include computer software and hardware, services, trading, chemicals and automobile.

APPOINTMENTS & RESIGNATIONS          

RBI’s CoS Fully Operationalized; Dr. Rabi Narayan Mishra Named as its Full-time Directori.On January 6, 2020, the College of Supervisors (CoS), which was set up by Reserve Bank of India (RBI) in May 2020, has now been fully operationalized for effective supervision of the regulated entities. It was functioning in a limited way in virtual mode since May 2020.
ii.CoS will have a full-time Director. RBI has appointed Dr. Rabi Narayan Mishra, its former Executive Director for the same.
iii.The full-time Director supported by an Academic Advisory Council (AAC).
iv.CoS was set up in May 2020 to further broaden and strengthen the supervisory skills among RBI’s regulatory and supervisory staff at entry level and on a continuous basis.
About Reserve Bank of India (RBI):
Formation– 1 April 1935
Governor– Shaktikanta Das
Headquarters– Mumbai, Maharashtra
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao)
<<Read Full News>>

Government Formed committee to protect language, culture & land of Ladakh headed by G Kishan Reddyi.On January 6, 2021, the Central Government has decided to form a committee to protect the language, culture and land of the Union Territory (UT) of Ladakh.
ii.The committee will be headed by the Minister of State (MoS) Gangapuram Kishan Reddy and will include elected representatives from Ladakh, members of the Ladakh Autonomous Hill Development Council (LAHDC) and ex-officio members representing the Government of India and the Ladakh administration.
iii.The committee will also ensure citizen’s participation in the development of Ladakh.
About Ladakh:
Lieutenant Governor– Radha Krishna Mathur
Capital – Leh , Kargil
<<Read Full News>>

Sanjay Kapoor Elected as President of All India Chess FederationSanjay Kapoor(45 years old), representing Uttar Pradesh Chess Sports Association, was elected as the president of the All India Chess Federation (AICF) and became the youngest president of the federation. He succeeds PR Venketrama Raja of Tamil Nadu.
Along with him a secretary, Treasurer, Vice Presidents, joint secretaries and treasurer also was elected
i.The new office-bearers will hold posts till 2023.
ii.This is the first time after 2005 that there was a contest, as the candidates were chosen unanimously in the last 15 years.
Note– Sanjay Kapoor took 33 votes as against 31 votes of PR Venketrama Raja.
Points to be Noted:
i.Bharat Singh Chauhan was elected as the secretary for the 3rd time. Naresh Sharma was elected as Treasurer.
ii.In addition to being the head of Uttar Pradesh Chess Sports Association, Sanjay Kapoor is also the Chairman of Kanpur Cricket Association.
iii.PR Venketrama Raja is the Founder, Mentor & Innovator in Chief (Chairman) of Ramco Systems
About the Election:
i.The election took place on January 4, 2021 in online as per the directives of the  Madras High Court(HC).
ii.The Madras HC appointed electoral officer Justice (retd) K Kannan, a retired judge of Punjab and Haryana High Court to supervise the online process.
iii.This is the first time after 2005 that there was a contest, as the candidates were chosen unanimously in the last 15 years.
Name of the Other New Office Bearers:
Vice Presidents– Anantha D.P, Bhavesh Patel, Vipnesh Bhardwaj,
Ajay Ajmera, PC Lallianthanga & Er. Niapung Konia
Joint Secretaries– Rajesh R, Mahendra Dhakal, Atul Kumar, Mughaho
Awomi, Diljeet Khanna & Atanu Lahiri
About All India Chess Federation (AICF):
It is an affiliation of  Fédération Internationale des Échecs(FIDE)-  World Chess Federation and is recognised by Govt of India
HeadQuarters & Administrative Office– Jawaharlal Nehru Stadium, CHennai, Tamil Nadu
Founded– 1951

BOOKS & AUTHORS

RBI Manager R Giridharan Authored his Debut Book “Right Under Your Nose”The book titled ‘Right Under Your Nose’ is authored by Reserve Bank of India(RBI) Manager R Giridharan. This is his debut Book. The book is published by Rupa Publications India Pvt Ltd.
Essence of the Book
i.The book  portrays how Superintendent Vijay along with his trusted aide Dalvi, and Journalist Padmini spots the murderer who killed a woman and a team of scientists.
ii.Their skills are pitted by a genius who eliminates all possible  lead, right under their nose.
iii.The story is set in Nagpur, Maharashtra.
About R Giridharan:
i.Besides working with RBI, he is also an international sports commentator with All India Radio and has covered many test matches and one-day internationals, including World Cup matches
ii.He is also an expert panellist on Doordarshan.
iii.In addition to this he has anchored many panel discussions and has also compèred shows.

Ravi Shastri Released a Book , ‘India’s 71-Year Test: The Journey to Triumph in Australia’ Penned by R Kaushik’ Ravi Shastri, Former Indian all-rounder and current head coach of Indian Cricket team released a book titled,  ‘India’s 71-Year Test: The Journey to Triumph in Australia’ at the Sydney Cricket Ground, Sydney, Australia. The book is a Bradman Museum initiative and is authored by R Kaushik, Senior Cricket Journalist. It is published by Churchill Press.
Essence of the Book:
i.It describes the 1st 12 tours of India to Australia, i.e, from 1947/48, revealing the development of the rivalry between the two nations which was majorly dominated by the hosts.
ii.It features over 200 pictures, many of these were purchased by former Australia Test opener Wally Edwards. He donated them to the  Bradman Museum collection.
About R Kaushik
i.He is regarded as one of the respected cricket writers  with about 3 decades of experience.
ii.He has worked with Newstime in Hyderabad, Deccan Herald and Wisden India.
Presently he is a  freelance writer based in Bengaluru.
iii.He has covered all the ICC Cricket World Cups from 1996 and more than 100 Test matches involving India among others.
iv.He is also the co-author of Indian batting star VVS Laxman’s award-winning autobiography 281 and Beyond, which was released in November 2018.
Additional Info
Sunil Gavaskar’s portrait is being taken to  Bowral Museum at Bradman Center in New South Wales, Australia, where it will be displayed alongside the portrait of Sachin Tendulkar which is already on display.

STATE NEWS

AK Goswami Sworn in as Chief Justice of AP High Court;Succeeds JK MaheshwariOn January 6, 2021 Arup Kumar(A.K.) Goswami was sworn in as the Chief Justice (CJ) of Andhra Pradesh(AP) High Court(HC) administered by AP Governor Biswab Bushan Harichandan  in Tummalapalli Kalakshetram, Vijayawada, AP. He succeeds Jitendra Kumar(JK) Maheshwari who is now appointed as the CJ of Sikkim HC.
i.Chief Minister Y.S. Jagan Mohan Reddy and other dignitaries were present during the sworn in function.
Note
Prior to his appointment as CJ of Andhra Pradesh HC, he was the CJ of Sikkim HC.
About Arup Kumar(A.K.) Goswami:
i.He started his career in 1985 as an advocate with the Bar Council of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura.
ii.In 2004, he was designated as a senior advocate and in the same year became the standing counsel of Gauhati High Court.
iii.He was elevated as Judge of Guwahati HC  in 2011 and was appointed as the CJ of Sikkim High Court in 2019.

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