09th July, 2021 – Daily News

Topics covered – 24 Integrated Check Posts , Development Council for Cement Industry , database of genomic variations in oral cancer , digital network for facilitating electricity bill payments , OECD Employment Outlook, Promoting Youth Engagement and Employment in Agriculture and Food Systems” report , Vman Aviation Services , “Power Salute” initiative, ‘Easiloan Instant Match’ application, Arogya Supreme’ , Government Securities Auction Methodology, ‘Pay to contacts’ , e-commerce market in India , “Indian Banks 2021 Report Card”, , PM of Sweden, world’s first solo motorcycle expedition , leading run-scorer in women’s cricket, The Fourth Lion: Essays for Gopalkrishna Gandhi’ book , Haiti President Jovenel Moise , “Lady Doctors: The Untold Stories of India’s First Women in Medicine”

Bulletins

  1. Chairman of Land Ports Authority of India (LPAI), Aditya Mishra, has announced that India will develop 24 Integrated Check Posts (ICPs) along its land borders by 2025 for better integration of the region and beyond to SE Asia.
  2. Department for Promotion of Industry and Internal Trade (DPIIT) has set up a 25-member Development Council for Cement Industry (DCCI), which is chaired by Puneet Dalmia (chairman of Dalmia Bharat Group).
  3. DBT-National Institute of Biomedical Genomics (NIBMG) in West Bengal has created a database of genomic variations in oral cancer – dbGENVOC.
  4. TP Central Odisha Distribution Limited (TPCODL) – a joint venture between TATA Power and the Government of Odisha – has partnered with IndusInd Bank to introduce a fully digital network for facilitating electricity bill payments across the state.
  5. Organisation for Economic Co-operation and Development (OECD) has released the “OECD Employment Outlook” 2021.
  6. “Promoting Youth Engagement and Employment in Agriculture and Food Systems” report has been launched by Committee on World Food Security (CFS).
  7. Indian aircraft leasing company Vman Aviation Services has become the first GIFT city based aircraft company to sign an aircraft purchase agreement after placing an order for an Airbus H125 helicopter.
  8. Axis Bank has signed an MoU with the Indian Army for offering a defence service salary package under its “Power Salute” initiative.
  9. Max Bupa Health Insurance has partnered with Axis Bank to offer health insurance to the bank’s customers.
  10. Easiloan Techno Solutions Pvt. Ltd. (a fintech start-up) has launched the ‘Easiloan Instant Match’ application, which is the first of its kind AI technology-based selection and recommendation engine in the housing finance industry for those who are in search of new homes.
  11. SBI General Insurance has launched a comprehensive health insurance plan ‘Arogya Supreme’ to ensure that customers can have full health insurance coverage, including 20 basic covers and 8 optional covers.
  12. RBI has brought changes in the Government Securities Auction Methodology.
  13. Airtel Payments Bank has launched ‘Pay to contacts’ to allow customers to initiate a UPI payment by selecting the receiver’s mobile number from their phonebook.
  14. According to FICCI, e-commerce market in India is projected to touch $188 billion by 2025 up from $64 billion in 2020.
  15. In its “Indian Banks 2021 Report Card”, Fitch Ratings has forecasted a 10% GDP growth rate for India for FY22., down from 12.8% forecasted earlier.
  16. Stefan Löfven has been appointed as new PM of Sweden.
  17. Mountain biker Kanchan Ugursandi has finished world’s first solo motorcycle expedition covering 18 treacherous passes of northern Himalayan mountain ranges.
  18. Mithali Raj overtook Charlotte Edwards as the leading run-scorer in women’s cricket, across all three formats.
  19. The Fourth Lion: Essays for Gopalkrishna Gandhi’ book has been written by Venu Madhav Govindu and Srinath Raghavan.
  20. Haiti President Jovenel Moise was assassinated at his own private residence.
  21. “Lady Doctors: The Untold Stories of India’s First Women in Medicine” book has been written by Kavitha Rao.

Table of Content

National News

  1. Chairman of Land Ports Authority of India (LPAI), Aditya Mishra, has announced that India will develop 24 Integrated Check Posts (ICPs) along its land borders by 2025 for better integration of the region and beyond to SE Asia.
      • The ICPs are entry and exit points on India’s land borders and house various facilities such as customs, immigration, and border security, quarantine, among others, within a single facilitation zone.
      • The govt has already approved 24 land ports, out of which 9 are already functional, some are under construction and some are under various stages of development.
      • The announcement was made at a seminar organised by leading think tank Centre for Social and Economic Progress (CSEP).
      • In addition to the ICPs, there are plans to ensure that all 90 transit points along the15,000 km border are covered under standard infrastructure to facilitate all types of trade, transit and travel.
      • Currently, India is developing ICP at Sabroom, Tripura which will connect Chittagong port in Bangladesh with the North-East India.
      • In 2019-20, 40% of India’s total land-based trade with Bangladesh, Nepal, Myanmar, and Pakistan took place through the six inaugurated ICPs at Agartala, Petrapole, Raxaul, Jogbani, Moreh and Attari.
  2. Department for Promotion of Industry and Internal Trade (DPIIT) has set up a 25-member Development Council for Cement Industry (DCCI), which is chaired by Puneet Dalmia (chairman of Dalmia Bharat Group).
      • All the 25 members of the council have been appointed for 2 years.
      • Functions of DCCI:
        • The DCCI will suggest ways to eliminate waste, obtain maximum production, improve quality, reduce costs, promote standardization of products, and ensure full utilization of resources for improving the cement sector.
        • Other functions of the council include recommending measures for improving the working of the industry, particularly of the less efficient units; promote training of persons; and promoting or undertaking scientific and industrial research for this sector.
        • It would also work for standardization of accounting and costing methods and practice; and promoting the adoption of measures for increasing the productivity of labour, including measures for securing safer and better working conditions.
  3. DBT-National Institute of Biomedical Genomics (NIBMG) in West Bengal has created a database of genomic variations in oral cancerdbGENVOC.
      • It is the first-of-its-kind database in the world.
      • The database dbGENVOC is a browsable online database of genomic variants of oral cancer and is a free resource, which is publicly available.
      • dbGENVOC is not just a catalogue of genomic variants, it also allows analysis of data to be done online. It also has a powerful built-in search engine.
      • The repository / database will be updated annually, with variation data from new oral cancer patients from different regions of India and southeast Asia.

State News

  1. TP Central Odisha Distribution Limited (TPCODL) – a joint venture between TATA Power and the Government of Odisha – has partnered with IndusInd Bank to introduce a fully digital network for facilitating electricity bill payments across the state.
      • Through the ‘Bharat Money Stores’ will enable the customers of TPCODL residing in semi-urban and rural areas of the state, to walk into their nearest kirana store, and pay their electricity bills in a seamless manner.
      • ‘Bharat Money Stores‘ is a facility owned by Bharat Financial Inclusion Limited which is a 100% subsidiary of the IndusInd Bank.

Reports & Indices

  1. Organisation for Economic Co-operation and Development (OECD) has released the “OECD Employment Outlook” 2021.
      • Over 22 million jobs were lost in the developed nations due to covid-19. Of 22 million, 8 million are unemployed and 14 million are considered inactive.
      • Globally, 114 million jobs were lost due to the pandemic.
      • In May 2021, the unemployment rate fell by 6.6% in the OECD member countries. However, in comparison to the pre-pandemic levels, the unemployment is still 1.3% higher.
      • The pre-pandemic level is expected to be achieved by the end of 2022.
      • Labour markets in developed nations have recovered only half of the loss of employment they suffered in the pandemic, with the young and low-skilled hurt most.
      • Employment grew in sectors such as finance and insurance.
      • As per this report, income inequality, disadvantage to low-skilled workers, and unemployment are all increasing due to the pandemic.
  2. “Promoting Youth Engagement and Employment in Agriculture and Food Systems” report has been launched by Committee on World Food Security (CFS).
      • CFS is an intergovernmental panel hosted by Food and Agriculture Organization.
      • Unemployment rate in youth (especially women) is higher than adults.
      • Agriculture and Food Systems can provide enormous employment opportunities to the youth, provided it is made appealing for the youth.

Banking & Economy

  1. Indian aircraft leasing company Vman Aviation Services has become the first GIFT city based aircraft company to sign an aircraft purchase agreement after placing an order for an Airbus H125 helicopter.
      • Airbus H125 helicopter’s order is placed with French company Airbus under the Atmanirbhar Bharat package.
      • Vman will soon announce its first dry lease transaction. A dry lease is a leasing arrangement where an aircraft lessor provides an aircraft without crew, ground staff, etc, to an airline or corporation.
      • In the Union Budget 2021, several incentives and tax holidays on capital gains on aircraft leasing conducted at Gift city were announced.
  2. Axis Bank has signed an MoU with the Indian Army for offering a defence service salary package under its “Power Salute” initiative.
      • The Defence service salary package will offer different benefits to all ranks of army officers. It will also cover defence pensioners.
      • Benefits of the package;
        • Personal accidental cover of up to ₹56 lakh to all army personnel;
        • Additional up to 8 lakh education grant;
        • Total permanent disability cover benefit up to 46 lakh;
        • Permanent partial disability cover of up to ₹46 lakh;
        • Air accident cover of ₹1 crore, and
        • Free additional debit card for a family member.
  3. About “Power Salute” initiative:

      • Axis Bank had launched the “Power Salute” initiative (Defence Salary Account) to cater to the specific needs of armed personnel.
      • The Defence Salary Account comes with a free Power Salute Debit Card that has the annual and joining fee waived for primary / joint account holders. It also provides a Personal Accident Insurance Cover of up to Rs. 30 Lakhs
  4. Max Bupa Health Insurance has partnered with Axis Bank to offer health insurance to the bank’s customers.
  5. Easiloan Techno Solutions Pvt. Ltd. (a fintech start-up) has launched the ‘Easiloan Instant Match’ application, which is the first of its kind AI technology-based selection and recommendation engine in the housing finance industry for those who are in search of new homes.
      • The new search engine helps the homebuyers in selecting home loans offered by different agencies.
      • This application brings developers, direct selling agents (DSAs), customers, banks and NBFCs on a single platform for end-to-end digital processing of home loans.
  6. SBI General Insurance has launched a comprehensive health insurance plan ‘Arogya Supreme’ to ensure that customers can have full health insurance coverage, including 20 basic covers and 8 optional covers.
      • Under the Arogya Supreme, maximum sum insured is up to Rs 5 crores.
      • It is available in three options – Pro, Plus and Premium based on the sum insured and coverage features.
      • The new plan also offer customer-friendly coverages like Sum Insured Refill, Recovery Benefit, Compassionate Visit, etc.
      • Policy tenure – 1 to 3 years
  7. RBI has brought changes in the Government Securities Auction Methodology.
      • Now, the benchmark securities of tenor 2-year, 3-year, 5-year, 10-year, 14-year tenor and Floating Rate Bonds (FRBs) will be, henceforth, issued using uniform price auction method.
      • For other benchmark securities i.e. 30-year and 40-year, the auction will continue to be multiple price-based auction.
      • The above arrangement will continue till further review.
  8. Airtel Payments Bank has launched ‘Pay to contacts’ to allow customers to initiate a UPI payment by selecting the receiver’s mobile number from their phonebook.
      • ‘Pay to Contacts’ displays the valid UPI ID associated with the selected contact, irrespective of the UPI app used by the receiver.
      • This eliminates the need to enter the UPI ID or bank account details to process the payment and saves time.
  9. According to FICCI, e-commerce market in India is projected to touch $188 billion by 2025 up from $64 billion in 2020.
      • In the same period, its contribution to the country’s GDP is set to rise too, touching 3.8% of the country’s gross domestic product by 2025.
      • Indian retail industry is set to touch $1.1 – $1.3 trillion in value by 2025.
      • By 2026, the e-commerce market will reach $200 billion in 2026.

GDP Forecasts

  1. In its “Indian Banks 2021 Report Card”, Fitch Ratings has forecasted a 10% GDP growth rate for India for FY22., down from 12.8% forecasted earlier.
      • India’s medium term growth potential will be 6.5%.
      • India is graded as ‘BBB-‘ country by Fitch.
      • Fitch expects banks’ exposure to stressed MSME and retail borrowers to rise further with the increasing relief outlay.

Appointments

  1. Stefan Löfven has been appointed as new PM of Sweden.
      • Capital: Stockholm
      • Currency: Swedish krona
PM Of Sweden

Sports

  1. Mountain biker Kanchan Ugursandi has finished world’s first solo motorcycle expedition covering 18 treacherous passes of northern Himalayan mountain ranges.
      • Miss Ugursandi has become the first solo woman biker to scale the Umlingla Pass, the first woman to cover the 18 passes and also the first woman to traverse a distance of 3,187 kilometre from New Delhi-Manali-Leh-Umlingla-Delhi in one go.
Kanchan Ugursandi
  1. Mithali Raj overtook Charlotte Edwards as the leading run-scorer in women’s cricket, across all three formats.
      • She is also the most capped player in the history of the women’s game.

Miscellaneous

  1. ‘The Fourth Lion: Essays for Gopalkrishna Gandhi’ book has been written by Venu Madhav Govindu and Srinath Raghavan.
  2. Haiti President Jovenel Moise was assassinated at his own private residence.
      • Capital: Port-au-Prince
      • Currency: Haitian gourde
  3. “Lady Doctors: The Untold Stories of India’s First Women in Medicine” book has been written by Kavitha Rao.
      • India’s first female doctor is Anandibai Gopalrao Joshi.
      • This book includes stories of Anandibai Joshi, Rukmabai Raut, Kadambini Ganguly, Haimabati Sen, and Muthulakshmi Reddy (founder of Adyar Cancer Hospital).

Start Quiz of 09th July 2021

Q.1) How many Integrated Check Posts are expected to be built by India across its land borders by 2025?
Q.2) Who chairs the 25 member Development Council for Cement Industry?
Q.3) Which of the following institutes has developed world’s first database of genomic variations in oral cancer – dbGENVOC?
Q.4) How many jobs were lost in OECD countries due to the pandemic, as per the OECD Employment Outlook 2021?
Q.5) What is the GDP forecast for India for FY22 by Fitch Ratings?
Q.6) Who is the author of ‘The Fourth Lion: Essays for Gopalkrishna Gandhi’ book?
Q.7) With which bank has Odisha’s TP Central Odisha Distribution Limited partnered to introduce a fully digital network for facilitating electricity bill payments across the state?
Q.8) Which bank has signed an MoU with the Indian Army for offering a defence service salary package under its "Power Salute" initiative?
Q.9) Which of the following companies has launched first of its kind AI technology-based selection and recommendation engine for the homebuyers?
Q.10) What is the capital of Haiti?
CEO of Anujjindal.in


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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