07th October, 2021 – Daily News

Topics covered – oil and gas projects , Dubai Expo 2020 , Credit Guarantee Scheme For Subordinate Debt, National Road Safety Board, National Mission on Edible Oil- Oil Palm Business Summit for North Eastern States , Multilingual Dementia Research and Assessment (MUDRA) Toolbox , 75 Science Technology and Innovation (STI) Hubs , ‘National Apprenticeship Mela’ , India’s First Fish Market App , Regional Ayurveda Research Institute , DART space mission , probe to land on an asteroid, G20 meetings , 2021 Annual Meetings , State of Climate Services report 2021, Taxibot services , Aditya Birla Money Ltd , 100% foreign direct investment , India’s sovereign rating, CMD of MTNL, Lasker Awards 2021, 2022 Birmingham Commonwealth Games in hockey sport , ,

Bulletins

  1. Union Petroleum and Natural Gas Minister Hardeep Singh Puri has announced that oil and gas projects worth Rs 1 lakh crore have been approved for the North Eastern Region (NER), which are expected to be completed by 2025.
  2. Online travel firm EaseMyTrip has partnered with the Indian Pavilion at the Dubai Expo 2020 to send across 50,000 people to the events there from India.
  3. The Central govt has extended the Credit Guarantee Scheme For Subordinate Debt by six months till 31.03.2022.
  4. The Ministry of Road Transport and Highways has notified guidelines for the constitution of the “National Road Safety Board”.
  5. National Mission on Edible Oil- Oil Palm Business Summit for North Eastern States was held at Guwahati, Assam.
  6. Indian Council of Medical Research (ICMR) has released the Multilingual Dementia Research and Assessment (MUDRA) Toolbox in five Indian languages – Hindi, Bengali, Telugu, Kannada and Malayalam.
  7. Central Government will be setting up 75 Science Technology and Innovation (STI) Hubs in different parts of the country, exclusively for Scheduled Castes (SCs) and Scheduled Tribes (STs).
  8. ‘National Apprenticeship Mela’ was organized by National Skill Development Corporation (NSDC), Skill India, and Directorate General of Training (DGT) across 660 locations in India.
  9. ‘Assam govt has launched India’s First Fish Market App named “Fishwaale” to facilitate trade of fish online.
  10. Regional Ayurveda Research Institute (RARI) has signed an MoU with Sikkim Manipal University (SMU) to conduct collaborative research in mutually identified areas and promote research activities.
  11. NASA will launch its DART space mission on November 23, 2021 aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California.
  12. World Health Organization has approved the RTS,S/AS01 malaria vaccine — also known as Mosquirix.
  13. United Arab Emirates has announced plans to send a probe to land on an asteroid between Mars and Jupiter to collect data on the origins of the universe.
  14. G20 meetings in October 2021: –
  15. 2021 Annual Meetings of the Boards of Governors of the World Bank Group and the IMF are scheduled to be held in Washington, D.C., during the week of October 11-17, 2021.
  16. World Meteorological Organization (WMO) has released the State of Climate Services report 2021.
  17. Tata Sons has bought the Air India from Govt for $2.4bn.
  18. AirAsia India has become the first Airbus operator in the world to start Taxibot services with passengers on board.
  19. SEBI has fined Aditya Birla Money Ltd of over Rs 1 crore for violation of several market norms, including stock broker regulations.
  20. Central government has notified 100% foreign direct investment (FDI) under automatic route in the telecom services sector.
  21. Central govt has clarified that ice-creams will attract an 18% GST, instead of 5%.
  22. Central govt has clarified that ice-creams will attract an 18% GST, instead of 5%.
  23. PK Purwar has been appointed as the CMD of MTNL.
  24. Amrutanjan Healthcare has signed the Weightlifter Mirabai Chanu and Wrestler Bajrang Punia, as its brand ambassadors.
  25. Lasker Foundation has announced Lasker Awards 2021.
  26. India has announced that it will not participate in the 2022 Birmingham Commonwealth Games in hockey sport (in both men’s and women’s events).
  27. A new species of Gecko has been named after film star and martial artist Jackie Chan.

Table of Content

National News

  1. Union Petroleum and Natural Gas Minister Hardeep Singh Puri has announced that oil and gas projects worth Rs 1 lakh crore have been approved for the North Eastern Region (NER), which are expected to be completed by 2025.
      • One of the oldest operating refineries in the world, the Digboi refinery in Assam, would be expanded.
      • The Central govt aims to increase oil and gas production in NE region to 18 Million Metric Tonnes Oil Equivalent (MMTOE) by 2025, up from 9 MMTOE at present.
  2. Online travel firm EaseMyTrip has partnered with the Indian Pavilion at the Dubai Expo 2020 to send across 50,000 people to the events there from India.
      • The company is promoting Expo 2020 along with FICCI for the next six months.
  3. The Central govt has extended the Credit Guarantee Scheme For Subordinate Debt by six months till 31.03.2022.
      • The ‘Distressed Assets Fund- – Subordinate Debt for Stressed MSMEs’ was created on 13th May, 2020, under the Atma Nirbhar Bharat Package.
      • Accordingly, a scheme viz. ‘Credit Guarantee Scheme for Subordinate Debt’ was launched in June 2020.
      • The scheme aims to provide credit facility through lending institutions to the promoters of stressed MSMEs viz. SMA-2 and NPA accounts who are eligible for loan restructuring as per RBI guidelines.
      • This scheme was to remain in operation till 30.09.2021.
  4. The Ministry of Road Transport and Highways has notified guidelines for the constitution of the “National Road Safety Board”.

      • The board will consist of a Chairman.
      • The strength of the board is not less than three and not more than seven.
      • The head office of the board will be in the National Capital Region. It may establish offices at other places in India.
      • The criteria of eligibility of the staff (including Chairman) are provided in these guidelines.
      • Functions – The board will formulate specific standards for road safety, traffic management, and road construction for hilly regions, and guidelines for capacity building and skill development of traffic police, hospital authorities, highway authorities, and others.
        • The board will promote ‘Good Samaritans’, good practices in road safety and traffic management, and new vehicle technology in the field of vehicular engineering.
  5. National Mission on Edible Oil- Oil Palm Business Summit for North Eastern States was held at Guwahati, Assam.
      • The conference was Chaired by the Union Agriculture Minister Shri Narendra Singh Tomar.
      • The conference discussed about measures to increase oil production in the North-East States.
      • The National Mission on Edible Oil- Oil Palm with a total outlay of Rs 11040 crore will bring additional area of 6.5 lakh hectares under Oil Palm plantation with 3.28 lakh hectares in North Eastern states and 3.22 lakh hectares in the rest of India in next 5 years.
      • An MOU was signed between Assam Bio Refinery Private Limited and Numaligarh Refinery to establish the first-of-its-kind bio refinery in India to produce renewable green fuel bio ethanol.
      • In the Summit, books titled “Glimpses of NMEO-Oil Palm in NE States” by Oilseeds Division of the Ministry and “Improved Management Practices of the Oil Palm Cultivation in NE States” by ICAR- Indian Institute Of Oil Palm Research were released.
  6. Indian Council of Medical Research (ICMR) has released the Multilingual Dementia Research and Assessment (MUDRA) Toolbox in five Indian languages – Hindi, Bengali, Telugu, Kannada and Malayalam.
      • MUDRA Toolbox is a comprehensive tool specifically to diagnose dementia in the Indian population.
      • The toolbox includes various cognitive tests to assess different domains of cognition such as attention and executive function, memory, language, and visuospatial functions.
      • MUDRA Toolbox is an initiative undertaken by ICMR Neuro-Cognitive Tool Box (ICMR-NCTB) consortium to transform India’s dementia and mild cognitive impairment research and clinical practices.
      • It is a collective effort by seven leading centres in India NIMHANS (Bengaluru), AIIMS (New Delhi), SCTIMST (Thiruvananthapuram), NIMS (Hyderabad), Apollo Hospital (Kolkata), Manipal Hospital (Bengaluru) and Jawaharlal Nehru Medical College.
  7. Central Government will be setting up 75 Science Technology and Innovation (STI) Hubs in different parts of the country, exclusively for Scheduled Castes (SCs) and Scheduled Tribes (STs).
      • These STI Hubs will not only promote scientific talent but also contribute to socio-economic development of these communities.
  8. ‘National Apprenticeship Mela’ was organized by National Skill Development Corporation (NSDC), Skill India, and Directorate General of Training (DGT) across 660 locations in India.
      • Nearly 51,991 apprentices were hired and the event witnessed participation from more than 5000+ organisations, operating in more than 30 sectors such as Power, Retail, Telecom, IT/ITeS, Electronics, Automotive and more.
      • They have been offered monthly stipends as per the Government standards ranging from Rs 5000 to Rs 9000 per month.
      • The candidates will further get certification from National Council for Vocational Education and Training (NCVET).
  9. Recent Reforms in the Apprenticeship Rules:

      • Upper limit for engaging apprentices increased from 10% to 15%
      • Size limit of an establishment with mandatory obligation to engage apprentices lowered from 40 to 30
      • Payment of stipend for 1st year has been fixed rather than linking it to minimum wages, 10% to 15% hike in stipend for 2nd and 3rd year to apprentice
      • Duration of apprenticeship training for Optional Trade can be from 6 months to 36 months
      • The industry has an option to design and implement their own Apprenticeship training
      • Under National Apprenticeship Promotion Scheme (NAPS), the establishments/industry can get reimbursement up to 25% of the stipend paid to the apprentices.

State News

  1. Assam govt has launched India’s First Fish Market App named “Fishwaale” to facilitate trade of fish online.
      • It will provide one-stop solution for aquaculture, will help both buyers and sellers to place orders and sell fish, aquaculture equipment and medicine, fish feed and fish seed online.
  2. Regional Ayurveda Research Institute (RARI) has signed an MoU with Sikkim Manipal University (SMU) to conduct collaborative research in mutually identified areas and promote research activities.
      • RARI will also open a unit at Central Reference Hospital of Sikkim Manipal Institute of Medical Sciences in Gangtok.

International News

  1. NASA will launch its DART space mission on November 23, 2021 aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California.
      • DART stands for Double Asteroid Redirection Test (DART) mission.
      • It aims to deflect the Near Earth Object to prevent their collision with Earth.
      • Testing will be done on the binary Near-Earth asteroid Didymos and its moonlet, which pose no threat to Earth.
      • DART will use the kinetic impactor technique to change the direction of asteroid away from Earth.
      • DART will deploy Roll Out Solar Arrays (ROSA) to provide the solar power needed for DART’s electric propulsion system.
      • This spacecraft has been developed at the Johns Hopkins Applied Physics Laboratory (APL).
  2. World Health Organization has approved the RTS,S/AS01 malaria vaccine — also known as Mosquirix.
      • It is the world’s first malaria vaccine.
      • The vaccine developed by Britain’s GlaxoSmithKline.
  3. United Arab Emirates has announced plans to send a probe to land on an asteroid between Mars and Jupiter to collect data on the origins of the universe.
      • A successful landing would see the UAE join an elite club of the European Union, Japan and the United States, which have completed the feat.
      • The project will be launched in 2028 and will reach the asteroid in 2033.
  4. G20 meetings in October 2021: –
Second G20 Dialogue on Water:
• Mode – virtual
• Date – 29th September, 2021
• The meeting, focussing on “Sustainable Water Management: Cross-sectoral and integrated approaches”, was opened by the Troika Environment Ministers of Italy, Indonesia and the Kingdom of Saudi Arabia.
⚬ G20 Troika is the group of three G20 President countries, who held, holds, and will hold the Presidency of G20 consecutively.
• During the forum, Saudi Arabia launched the ‘Water Platform’ to share experiences in the domain of sustainable water management globally.
• The G20 Countries provided more than 30 national best practices which will be included in the Water Platform.
Third meeting of the G20 Anti-Corruption Working Group:
• Date - September 28th to October 1st.
• G20 countries agreed to adopt High-Level Principles on Preventing and Combating Corruption in Emergencies, the Accountability Report 2021 and the Action Plan 2022-2024.
13th annual International G-20 conference:
• Date - 6 - 8 October 2021
• Hosts - Indian Council for Research on International Economic Relations (ICRIER), ADBI, and partners
• The conference aims to examine new issues of concern for the Group of 20 (G20), still-pressing globalization challenges, and the outlook for India’s G20 presidency in 2023.
G20 Ministerial Meeting on Trade:
• Date – October 12, 2021
• G20 Trade and Investment Ministerial Meeting aims to discuss concrete outcomes ahead of the 12th WTO Ministerial Conference, scheduled to take place in Geneva from 30 November to 3 December 2021.
• With the G20 Trade Ministerial, the Italian Presidency intends to put WTO reform at the heart of the agenda, along with bolstering trade multilateralism.
• The Sorrento Ministerial Declaration will reflect these priorities by reflecting the progress of the meeting.
G20 Extraordinary Leaders’ Meeting on Afghanistan:
• Date – October 12, 2021
• Mode – Virtual
• The meeting is the initiative of Italian PM Mario Draghi.
• PM Narendra Modi will also attend this meeting.
4th G20 Finance Ministers and Central Bank Governors Meeting:
• Date - October 13, 2021 Helvetica
• This meeting will be held on the occasion of the International Monetary Fund (IMF) – World Bank Group (WBG) Annual Meetings.
• It will be attended by Minister of Finance, Nirmala Sitharaman.
• The Ministers will discuss the framework for Global Minimum Corporate Tax.
• Following up on the IMF general allocation of USD 650 billion Special Drawing Rights (SDRs), discussion will now focus on options for voluntarily channelling a share of the allocated SDRs to help countries in critical conditions.
• Debt Service Suspension Initiative (DSSI) and the International Development Association’s replenishment will be discussed.
G20 Urban 20 Summit 2021:
• G20 Urban 20 Summit 2021 will take place ahead of the G20 Leaders’ Summit 2021, which is to be hosted by Italy in October 2021.
2021 G20 Rome summit:
• Date - 30–31 Oct, 2021
• Edition – 16th
• The G20 Summit will focus on three pillars – People, Planet, and Prosperity.
Rome summit
  1. 2021 Annual Meetings of the Boards of Governors of the World Bank Group and the IMF are scheduled to be held in Washington, D.C., during the week of October 11-17, 2021.
      • 2022 Annual Meetings will be held in Morocco.

Reports & Indices

  1. World Meteorological Organization (WMO) has released the State of Climate Services report 2021.
  2. Global Scenario:

      • Terrestrial Water Storage (TWS) has dropped at a rate of 1 cm per year in 20 years (2002-2021).
        • TWS is the sum of all water on the land surface and in the subsurface, i.e. surface water, soil moisture, snow and ice and groundwater.
      • The biggest losses have occurred in Antarctica and Greenland. But many highly populated, lower altitude locations have also experienced TWS losses.

    Indian Scenario:

      • India has recorded the highest loss in terrestrial water storage if the loss of water storage in Antarctica and Greenland is excluded.
      • The northern part of India has experienced the maximum loss within the country.
      • The TWS has been lost at a rate of at least 3 cm per year. In some regions, the loss has been over 4 cm per year too.
      • In India, per capita water availability is reducing due to increasing population. In 2011, the average annual per capita water availability was 1,545 cubic metres, in comparison to 1,816 cubic metres in 2001.
      • According to the Union Ministry of Housing and Urban Affairs, the per capita water availability is projected to further decrease to 1,367 cubic metres in 2031.
      • Five of the 21 river basins in India are ‘absolute water scarce’ (per capita water availability below 500 cubic metres) and three are ‘water stressed’ (per capita water availability below 1,700 cubic metres), according to the Falkenmark Water Stress Indicator.
        • By 2050, six will become water scarce and four will become water stressed.
        • The Falkenmark Water Stress Indicator assesses the water stress levels across the world.

Banking & Economy

  1. Tata Sons has bought the Air India from Govt for $2.4bn.
      • The Tata group originally founded the airline in 1932 before it was taken over by the government in 1953.
  2. AirAsia India has become the first Airbus operator in the world to start Taxibot services with passengers on board.
      • Taxibot is a semi-robotic towbarless aircraft movement equipment that is used for towing an aircraft.
      • AirAsia India has partnered with KSU Aviation, the exclusive operator of the Taxibot in India in the task.
  3. SEBI has fined Aditya Birla Money Ltd of over Rs 1 crore for violation of several market norms, including stock broker regulations.
      • SEBI has introduced the Swing Pricing Framework for Mutual Fund.
  4. Note: You can understand the entire framework in this video, along with other finance news.

  5. Central government has notified 100% foreign direct investment (FDI) under automatic route in the telecom services sector.
      • Till now, only 49% of FDI was allowed through the automatic route and anything beyond it had to mandatorily go through the government route.
  6. Central govt has clarified that ice-creams will attract an 18% GST, instead of 5%.
      • Earlier ice creams attracted 5% tax when sold inside restaurants and 18% when sold outside the restaurants.

GDP Forecasts

  1. Moody’s has upgraded India’s sovereign rating to stable from negative.
      • The rating is Baa3.
      • Both Standard & Poor’s and Moody’s have a stable sovereign rating outlook. Fitch has kept it negative until now.

Appointments

  1. PK Purwar has been appointed as the CMD of MTNL.
      • Purwar is also the CMD of BSNL.
  2. Amrutanjan Healthcare has signed the Weightlifter Mirabai Chanu and Wrestler Bajrang Punia, as its brand ambassadors.

Awards

  1. Lasker Foundation has announced Lasker Awards 2021.
      • The awards are given to improve health by accelerating support for medical research through recognition of research excellence, advocacy, and education.
Lasker Awards 2021

Sports

  1. India has announced that it will not participate in the 2022 Birmingham Commonwealth Games in hockey sport (in both men’s and women’s events).
      • Recently, England pulled out of the Junior World Hockey Cup, to be held in Bhubaneswar in November.
      • Both countries cited Covid as the reason for their withdrawal.

Miscellaneous

  1. A new species of Gecko has been named after film star and martial artist Jackie Chan.
      • Its name is Jackie’s Day Gecko.
      • A total of 12 new Gecko species have been discovered in the Western Ghats.
Gecko

Start Quiz of 07th October 2021

Q.1) What is the maximum limit of board members that can be appointed in the National Road Safety Board?
Q.2) Which of the following toolbox has been launched by ICMR to diagnose dementia in the Indian population?
Q.3) How many Sciences Technology and Innovation (STI) Hubs will be established by the Centre for Scheduled Castes (SCs) and Scheduled Tribes (STs)?
Q.4) As part of the reforms in the Apprenticeship Rules, size limit of an establishment with mandatory obligation to engage apprentices lowered from 40 to ___?
Q.5) Which of the following states has launched India's First Fish Market App?
Q.6) Which of the following missions is NASA’s mission to protect Earth from collision with Near Earth Objects in space?
Q.7) Which company has developed the world’s first malaria vaccine?
Q.8) As per the World Meteorological Organization’s State of Climate Services report 2021, the Terrestrial Water Storage (TWS) has been lost at a rate of at least ___ cm per year?
Q.9) Where did the 4th G20 Finance Ministers and Central Bank Governors Meeting take place?
Q.10) What is the focus of 2021 G20 Rome summit?
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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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