04th June, 2021 – Daily News

Topics covered – Financial Stability and Development Council, Ministry of Labour and Employment’s expert group, Goods and Services Tax (GST) Council, Fengyun-4B weather satellite, Venus – Davinci+ and Veritas – mission of NASA, Chair of WHO Executive Board for 2021-22, International Booker Prize 2021.

Bulletins

  1. Financial Stability and Development Council (FSDC) has constituted the first of its kind inter-regulator panel to address the regulatory challenges posed by the fintech industry.

  2. Ministry of Labour and Employment has constituted an expert group, chaired by Ajit Mishra (Director of Institute of Economic Growth), to provide technical inputs and recommendations on fixation of minimum wages and national floor minimum wages.

  3. Goods and Services Tax (GST) Council has constituted an 8 member group of ministers (GoM) to decide on the GST rates of COVID-19 relief material.

  4. China has successfully sent the Fengyun-4B weather satellite (FY-4B) into geosynchronous transfer orbit on Long March 3B rocket.

  5. NASA has planned two missions to Venus – Davinci+ and Veritas – by 2030.

  6. Dr Patrick Amoth has been appointed as Chair of WHO Executive Board for 2021-22 as Harsh Vardhan completes his tenure.

  7. The International Booker Prize 2021 has been won by David Diop for his novel “At Night All Blood Is Black”.

Table of Content

National News

  1. Financial Stability and Development Council (FSDC) has constituted the first of its kind inter-regulator panel to address the regulatory challenges posed by the fintech industry.
      • The committee includes officials from the RBI, Ministry of Finance, SEBI, and the IRDAI.
      • This group will seek better co-ordination among regulators to deal with fintech companies.
      • The FSDC is a non-statutory apex council under the Ministry of Finance, set up in 2010. It is chaired by Finance Minister.
      • The Raghuram Rajan committee (2008) on financial sector reforms first proposed the creation of FSDC.
  2. Ministry of Labour and Employment has constituted an expert group, chaired by Ajit Mishra (Director of Institute of Economic Growth), to provide technical inputs and recommendations on fixation of minimum wages and national floor minimum wages.

  3. Goods and Services Tax (GST) Council has constituted an 8 member group of ministers (GoM) to decide on the GST rates of COVID-19 relief material.
      • Currently, 5% GST is levied on domestically manufactured vaccines, while it is 12% for COVID drugs and oxygen concentrators.
      • Conrad Sangma (Chief Minister of Meghalaya) is the Convenor of this GoM.

International News

    1. China has successfully sent the Fengyun-4B weather satellite (FY-4B) into geosynchronous transfer orbit on Long March 3B rocket.
        • The satellite aims to provide weather forecast for small and medium scale environmental disasters.
Fengyun-4B
  1. NASA has planned two missions to Venus – Davinci+ and Veritas – by 2030.
      • Davinci+ (Deep Atmosphere of Venus Investigations of Noble Gases, Chemistry and Imaging) – The probe will be looking at the composition of the atmosphere in detail, providing information on each layer as it falls.
      • Veritas (Venus Emissivity, Radio science, InSAR, Topography and Spectroscopy) – It will determine the planet’s geologic history of Earth and assess its similarity to Earth.
          • It will host Deep Space Atomic Clock-2, built by Jet Propulsion Laboratory.

Appointments

  1. Dr Patrick Amoth has been appointed as Chair of WHO Executive Board for 2021-22 as Harsh Vardhan completes his tenure.
Dr Patrick Amoth

Awards

  1. The International Booker Prize 2021 has been won by David Diop for his novel “At Night All Blood Is Black”.
      • The book has been translated from French into English by Anna Moschovakis.
      • French title of the book is Frère d’âme.

Start Quiz of 04th June 2021

Q.1) On which committee’s recommendation was the Financial Stability and Development Council created?
 Q.2) Who heads the expert group formed by Ministry of Labour and Employment to provide technical inputs and recommendations on fixation of minimum wages and national floor minimum wages?
Q.3) Who is the convenor of 8 member group of ministers of the Goods and Services Tax (GST) Council?
 Q.4) Which country has launched Fengyun-4B weather satellite?
 Q.5) Davinci+ and Veritas are the planned mission of NASA to which planet?
 Q.6) Who has been appointed as Chair of WHO Executive Board 2021-22?
 Q.7) Who has won the International Booker Prize 2021?
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About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 4 years of experience in the field of Education.

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