21st July, 2021 – Daily News

Topics covered – Indian Institute of Heritage , India’s first ‘green hydrogen’ plant , Rail link between India’s Jayanagar (Bihar) and Nepal’s Kurtha , district mineral foundation , world’s largest blockchain-powered educational credentialing system, SOHUM -automated auditory brainstem response system, Banaras railway station, Dairy Investment Accelerator , Mineral Exploration Corporation Limited , BRICS Contact Group on Economic and Trade Issues , ICICI Bank HPCL Super Saver Credit Card, Arogya Rakshak, Paytm Payments Bank , Dhanlaxmi Bank , Asian Development Outlook 2021 – Supplement, President of Peru, Bank Nationalisation Day , Annual All India Football Federation (AIFF) awards 2020-21 , AFC Club Championship 2020-21, SPACE. LIFE. MATTER.: The Coming of Age of Indian Science” book , NBDriver.

Bulletins

  1. Union government has decided to set up the Indian Institute of Heritage in Noida.
  2. Indian Oil Corporation (India’s largest oil firm) is building India’s first ‘green hydrogen’ plant at its Mathura refinery, Uttar Pradesh.
  3. Rail link between India’s Jayanagar (Bihar) and Nepal’s Kurtha has successfully started operations.
  4. Cisco Networking Academy has partnered with the National Skill Development Corporation (NSDC) to address the shortage of tech-proficient workforce in India and create career opportunities for millions in the digital economy.
  5. Central govt has taken complete control of the district mineral foundation (DMF) funds, which means that states’ will not have any right to sanction or approve any expenditure out of the funds accrued from mandatory contribution from mining lease holders.
  6. Maharashtra govt, in partnership with LegitDoc (a blockchain startup based in Bangalore, owned by Crossforge Solutions Pvt. Ltd.), is implementing the world’s largest blockchain-powered educational credentialing system.
  7. Punjab government launched SOHUM -automated auditory brainstem response system (AABR) under universal new-born hearing screening programme.
  8. Manduadih railway station in Varanasi is renamed as ‘Banaras railway station’.
  9. Department of Animal Husbandry and Dairying (DAHD) has set up a Dairy Investment Accelerator under its Investment Facilitation Cell.
  10. Indian Navy has signed an MoU with Kotak Mahindra Bank for salary accounts of all its personnel – both serving and retired.
  11. Mineral Exploration Corporation Limited (MECL) has signed an MoU with Directorate of Mines & Geology of Goa for offering integrated mineral exploration and consultancy services.
  12. 27th edition of BRICS Contact Group on Economic and Trade Issues (CGETI) meeting was held.
  13. “ICICI Bank HPCL Super Saver Credit Card” has been launched by Hindustan Petroleum Corporation Limited (HPCL) and ICICI Bank.
  14. Life Insurance Corporation of India (LIC) has launched “Arogya Rakshak”, a benefit-based health insurance policy.
  15. Paytm Payments Bank has allowed its users to use their Fixed Deposit Accounts with the IndusInd Bank to make payments.
  16. Dhanlaxmi Bank has partnered with SMC Global Securities Limited for offering online trading services to customers.
  17. Asian Development Bank (ADB) has released the Asian Development Outlook 2021 – Supplement.
  18. Rural teacher-turned-political Pedro Castillo has become the President of Peru.
  19. Bank Nationalisation Day is observed on June 19.
  20. Annual All India Football Federation (AIFF) awards 2020-21 have been announced.
  21. All India Football Federation (AIFF) has nominated Gokulam Kerala FC to represent India in the AFC Club Championship 2020-21.
  22. “SPACE. LIFE. MATTER.: The Coming of Age of Indian Science” book has been written by Hari Pulakkat.
  23. Researchers at IIT Madras have developed an AI tool called NBDriver (neighbourhood driver) for use in analysing cancer-causing mutations in cells.
  24. Defence Research and Development Organisation (DRDO) has announced the indigenous development of a “high strength metastable beta titanium alloy”.

Table of Content

National News

  1. Union government has decided to set up the Indian Institute of Heritage in Noida.
      • The Institute will be an umbrella body under which all heritage institutes in the country will operate.
      • The Indian Institute of Heritage will be a world-class university and will focus on conservation of the country’s rich tangible heritage and research, development and dissemination of knowledge.
      • However, no budget allocation has been made for the project in the current fiscal.
      • It will be a “deemed to be university” institute formed by integrating following institutes:
Union govt set up Institute
  1. Indian Oil Corporation (India’s largest oil firm) is building India’s first ‘green hydrogenplant at its Mathura refinery, Uttar Pradesh.
      • Hydrogen, in itself, is a clean fuel but manufacturing it is energy-intensive and has carbon by-products.
      • The green hydrogen fuel will be used in the refinery for processing crude oil into value-added products such as petrol and diesel.
      • As per the forecast of different agencies, Indian fuel demand will be climbing to 400-450 million tonnes by 2040 as against 250 million tonnes now.
  2. Types of Hydrogen Fuel:

      • Brown hydrogen is created through coal gasification.
      • Grey hydrogen is produced by using fossil fuels such as natural gas.
      • Blue hydrogen uses carbon capture and storage of the greenhouse gases produced in the creation of grey hydrogen.
      • Green hydrogen is the ultimate clean hydrogen resource which is produced by using renewable energy.
  3. Rail link between India’s Jayanagar (Bihar) and Nepal’s Kurtha has successfully started operations.
      • First trial train of 110 kmph between Jayanagar-Kurtha ran successfully.
  4. Cisco Networking Academy has partnered with the National Skill Development Corporation (NSDC) to address the shortage of tech-proficient workforce in India and create career opportunities for millions in the digital economy.
      • Cisco Networking Academy courses will be provided to the beneficiaries through NSDC’s eSkill India platform to provide comprehensive digital skills critical for the digital-first world.
      • ICT jobs are expected to increase in India.
      • eSkill India is an e-learning aggregator portal of NSDC that brings together digital learning resources through various Indian and global knowledge partnerships.
  5. Central govt has taken complete control of the district mineral foundation (DMF) funds, which means that states’ will not have any right to sanction or approve any expenditure out of the funds accrued from mandatory contribution from mining lease holders.
      • Reason – there are instances where a part of the funds of the DMF are being transferred to the treasury/consolidated fund of the state or Chief Minister’s Relief Fund or other funds or schemes which was defeating the very purpose of the creation of the DMF.
      • As per the Mines and Minerals (Development and Regulation) Amendment Bill, 2015, state governments must establish DMFs in all districts for the interest and benefits of the persons affected by mining-related operations.
      • Lease holders are required to contribute to these DMFs as a defined percentage of royalty, in addition to the royalty paid to state governments.
      • DMF fund collections have been the highest in mineral-rich Odisha, followed by Chhattisgarh, Jharkhand, Rajasthan, and Madhya Pradesh.

State News

  1. Maharashtra govt, in partnership with LegitDoc (a blockchain startup based in Bangalore, owned by Crossforge Solutions Pvt. Ltd.), is implementing the world’s largest blockchain-powered educational credentialing system.
      • This system is being implemented to curb the problem of documents tampering. Blockchain-based digital document registry is the most robust way to stop the problem of document forgeries, even for countries that lack the necessary resources to adapt traditional digital solutions to combat the problem.
      • It is issuing nearly 1 million tamper-proof diploma certificates in the initial stage. It issued digital diploma certificates for students of Maharashtra State Board of Skill Development (MSBSD) across 8 academic years.
      • LegitDoc is an Ethereum-based software application for issuing and verifying tamper-proof digital documents.
      • Currently, only Malta, Singapore and Bahrain have implemented the blockchain based education document registry system.
      • Now, the Government of Maharashtra becomes only the 4th government entity in the world to have such a system.
  2. Punjab government launched SOHUM -automated auditory brainstem response system (AABR) under universal new-born hearing screening programme.
      • Punjab has become the first state to launch this system will aims to prevent hearing loss in newborn and young children.
  3. Manduadih railway station in Varanasi is renamed as ‘Banaras railway station’.

Agriculture and Rural Development

  1. Department of Animal Husbandry and Dairying (DAHD) has set up a Dairy Investment Accelerator under its Investment Facilitation Cell.
      • Dairy Investment Accelerator is a cross-functional team constituted to serve as the interface with investors.
      • It shall provide support across the investment cycle by:
        • Offering specific inputs for evaluation of investment opportunities
        • Addressing queries about the application to govt. schemes
        • Connecting with strategic partners
        • Providing on-ground assistance with state departments & relevant authorities
      • Dairy Investment Accelerator will work with DAHD to organize a series of events with global & local industry participants and one-on-one discussions with the investors to facilitate direct interactions with government officials and connect with other players in the industry.
      • Dairy Investment Accelerator will also create awareness among investors about Animal Husbandry Infrastructure Development fund (AHIDF).
  2. India’s Dairy Sector:

      • India is the largest milk producer contributing 23% of global milk production.
      • Annual milk production in the country has grown by 6.4% (CAGR) in the past 5 years.
      • Dairy is the single largest agricultural commodity contributing 5% of the national economy and employing 80 Mn+ farmers directly.
      • The Dairy sector constitutes about 40% of FDIs Indian food sector.

Memorandum of Understanding

  1. Indian Navy has signed an MoU with Kotak Mahindra Bank for salary accounts of all its personnel – both serving and retired.
      • Benefits to the Indian Navy personnel:
        • enhanced complimentary personal accident insurance cover,
        • special education benefit for children, and
        • additional girl child benefit, and
        • attractive rates and zero processing fees on personal loans,
        • home loans and car loans,
        • zero-balance salary account @ 4% interest per annum
        • free unlimited ATM transactions on all VISA ATMs
      • In March 2021, Kotak Mahindra had signed a similar MoU with the Indian Army.
  2. Mineral Exploration Corporation Limited (MECL) has signed an MoU with Directorate of Mines & Geology of Goa for offering integrated mineral exploration and consultancy services.
      • With the signing of MoU, MECL will assess mineral resources by conducting an array of geo-scientific exploration and will finalise the mineral blocks to be auctioned and establish the state’s mineral inventory.
      • Goa has large deposits of Iron Ore (1,456 Million Tonnes), Bauxite (55 Million Tonnes) and Manganese Ore (34 Million Tonnes) and other minerals.

International News

  1. 27th edition of BRICS Contact Group on Economic and Trade Issues (CGETI) meeting was held.
      • 2021 BRICS Trade Ministers’ meeting will be chaired by Indian Commerce and Industry Minister Piyush Goyal on September 3, 2021.
      • BRICS members also agreed to India’s three more proposals to strengthen trade and economy — a BRICS trade fair to showcase and to have buyer and sellers virtual meet from August 16-18, 2021; a roundtable of BRICS MSMEs on July 22, 2021 and two workshops on Services Trade Statistics to be held on July 16, 2021 and August 13, 2021.

Banking & Economy

  1. “ICICI Bank HPCL Super Saver Credit Card” has been launched by Hindustan Petroleum Corporation Limited (HPCL) and ICICI Bank.
      • The card is powered by Visa.
      • The card will enable customers of HPCL’s fuel to make payment through this card and collect all benefit and reward points of multiple cards in this one card.
  2. Life Insurance Corporation of India (LIC) has launched “Arogya Rakshak”, a benefit-based health insurance policy.
      • The policy is a non-linked, non-participating, regular premium, individual health insurance.
      • The policy aims to provide fixed benefit health insurance cover against certain specified health risks.
      • The Arogya Rakshak policy is different from regular comprehensive health insurance in terms of its method of reimbursement.
        • Generally, comprehensive health policies reimburse the actual cost incurred on medical treatment, up to the limit of the sum insured. On the other hand, the Arogya Rakshak policy pays lump sum benefit equal to the sum insured, irrespective of actual medical treatment costs.
      • Individuals can buy this one policy for themselves, their spouses, all children and parents.
      • Age limit for the insured – 18 and 65 years, and children of age 91 days to 20 years
      • The cover period available for the principal insured, spouse or parents is up to 80 years, while the same is available for children up to 25 years only.
  3. Paytm Payments Bank has allowed its users to use their Fixed Deposit Accounts with the IndusInd Bank to make payments.
      • Thus, Paytm Payments Bank has become the first Payments Bank in India to provide such facility.
  4. Dhanlaxmi Bank has partnered with SMC Global Securities Limited for offering online trading services to customers.
      • The tie-up will offer an integrated 3-in-1 account, comprising a Savings, Demat and Trading account.

GDP Forecasts

  1. Asian Development Bank (ADB) has released the Asian Development Outlook 2021Supplement.
      • FY21 GDP growth rate for India is –7.3%.
      • FY22 GDP growth rate for India is 10%.
      • FY23 GDP growth rate for India is 7.5%.
      • This Supplement raises the inflation forecast for India in FY22 (fiscal ending March 2022) to 5.5% while keeping the forecast for FY23 at 4.8%.
      • China is still projected at 8.1% in 2021, and 5.5% in 2022.
      • The GDP growth forecast for the South Asia in 2021-22 is 8.9%, for 2022-23, it is 7%.
      • Developing Asia’s GDP growth is 7.2% for 2021-22 and 5.4% for 2022-23. ”Developing Asia” refers to a group of over 40 countries that are members of the ADB.

Appointments

  1. Rural teacher-turned-political Pedro Castillo has become the President of Peru.
      • Peru is the world’s second-largest copper producer.
      • He is the first peasant to become President of Peru.
      • Capital of Peru – Lima
      • Currency – Sol
Pedro Castillo has become the President

Important Days

  1. Bank Nationalisation Day is observed on June 19.
      • On this day in 1969, 14 banks were nationalised in India. Later on, in 1980, 6 more banks were nationalised.
      • At present, according to RBI’s website, there are 12 public sector banks in India, 22 private sector banks, 11 small finance banks, 6 payments banks 4 financial institutions, and 43 regional rural banks.

Note: the complete list of banks is mentioned in this link of RBI’s website – https://rbi.org.in/scripts/banklinks.aspx

Sports

  1. Annual All India Football Federation (AIFF) awards 2020-21 have been announced.
      • Women’s Footballer of the Year – Bala Devi
      • Men’s Footballer of the Year – Sandesh Jhingan
      • Women’s Emerging Footballer of the Year – Manisha Kalyan
      • Men’s Emerging Footballer of the Year – Suresh Singh Wangjam
      • Indian Women’s football team captain is Ashalata Devi and Indian Men’s football team captain is Sunil Chhetri.
  2. All India Football Federation (AIFF) has nominated Gokulam Kerala FC to represent India in the AFC Club Championship 2020-21.
      • Winners of Hero Indian Women’s League (HIWL) are chosen to represent India.
      • But, this year, the 5th edition of Hero Indian Women’s League (HIWL) that was scheduled to take place in Bhubaneswar, Odisha has been postponed. Thus, the winner of the 4th editions, i.e., Kerala FC has been chosen.
Gokulam Kerala FC nominated

Miscellaneous

  1. “SPACE. LIFE. MATTER.: The Coming of Age of Indian Science” book has been written by Hari Pulakkat.
  2. Researchers at IIT Madras have developed an AI tool called NBDriver (neighbourhood driver) for use in analysing cancer-causing mutations in cells.
  3. Defence Research and Development Organisation (DRDO) has announced the indigenous development of a “high strength metastable beta titanium alloy”.
      • This titanium alloy will be used for making aerospace structural forgings.
      • The alloy has been developed by the DRDO-Defence Metallurgical Research Laboratory (DMRL), Hyderabad.

Start Quiz of 21st July 2021

Q.1) Where is the Govt of India planning to set up Indian Institute of Heritage?
Q.2) Where is the India’s first 'green hydrogen' plant being established by Indian Oil Corporation?
Q.3) Which state govt is implementing the world's largest blockchain-powered educational credentialing system?
Q.4) Which of the following statement is incorrect about the Dairy Investment Accelerator?
Q.5) What is India’s GDP forecast for FY22, as per the Asian Development Outlook 2021 - Supplement?
Q.6) When is the Bank Nationalisation Day observed?
Q.7) With which bank has Indian Navy signed an MoU for opening the salary accounts of its personnel?
Q.8) Which has become the first state in India to launch the SOHUM -automated auditory brainstem response system to prevent hearing loss in newborn and young children?
Q.9) Who has won the AIFF Women’s Footballer of the Year 2021?
Q.10) Who is the author of “SPACE. LIFE. MATTER.: The Coming of Age of Indian Science” book?
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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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