23rd and 24th May, 2021 – Daily News

Topics covered – SAMVEDNA, BRICS Astronomy Working Group, 33rd meeting of Health Ministers of Commonwealth, Indian Insurance Companies (Foreign Investment) Rules, 2021, ‘School of Hope and Empowerment’, first Small Finance Bank to offer online account opening services to its NRI customers, 12th Annual Day of the Competition Commission of India, $50 billion plan of IMF, overseas investment limit of Alternative Investment Funds (AIF) and Venture Capital Funds (VCF), City Union Bank Ltd and Tamilnad Mercantile Bank, Public Enterprises Selection Board, Chennai Petroleum Corporation Ltd, senior adviser to President Joe Biden, Etienne Glichitch Award.

Bulletins

  1. National Commission for Protection of Child Rights (NCPCR) has launched SAMVEDNA (Sensitizing Action on Mental Health Vulnerability through Emotional Development and Necessary Acceptance) – a Toll-Free Helpline – for providing Tele-Counselling to children.
  2. India has virtually hosted the 7th meeting of the BRICS Astronomy Working Group (BAWG) under the Science, Technology, and Innovation track of the BRICS 2021.
  3. 33rd meeting of Health Ministers of Commonwealth countries was held on the theme of “Commonwealth Response to COVID-19: Ensuring Equitable Access to Vaccines and Building Resilience for Health Systems and Emergencies,” through video conference.
  4. Ministry of Finance has notified the amendment to the Indian Insurance Companies (Foreign Investment) Rules, 2021 for increasing the foreign direct investment limit in the insurance sector to 74% from the existing 49%.
  5. Tata Communications launched its CSR project named ‘School of Hope and Empowerment’ (S.H.E.) at the 2021 UNESCO World Conference on Education for Sustainable Development.
  6. Equitas Small Finance Bank has become the first Small Finance Bank to offer online account opening services to its NRI customers.
  7. Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman virtually commemorated the 12th Annual Day of the Competition Commission of India (CCI).
  8. International Monetary Fund (IMF) has proposed a $50 billion plan to end the Covid-19 pandemic.
  9. RBI has approved the transfer of Rs 99,122 crore as surplus to the government for July 2020-March 2021.
  10. SEBI, in consultation with RBI, has doubled the overseas investment limit of Alternative Investment Funds (AIF) and Venture Capital Funds (VCF) to $1,500 million.
  11. RBI has imposed a penalty of Rs 1 crore each on City Union Bank Ltd and Tamilnad Mercantile Bank. Both banks are headquartered in Tamil Nadu.
  12. Public Enterprises Selection Board (PESB) has chosen Arvind Kumar as managing director of Chennai Petroleum Corporation Ltd, a unit of Indian Oil Corporation Ltd.
  13. US administration has announced that Indian-American Neera Tanden will now join the White House as a senior adviser to President Joe Biden.
  14. Hockey India has won the prestigious Etienne Glichitch Award from FIH for the promoting hockey in the country.

Table of Content

National News

  1. National Commission for Protection of Child Rights (NCPCR) has launched SAMVEDNA (Sensitizing Action on Mental Health Vulnerability through Emotional Development and Necessary Acceptance) – a Toll-Free Helpline – for providing Tele-Counselling to children.
      • Purpose – to provide psychological first-aid and emotional support to children affected during COVID-19 Pandemic.
      • Tele counselling is provided to the children under three categories:
          • Children who are in Quarantine/isolation/COVID Care centers.
          • Children who have COVID positive parents or family members and near ones.
          • Children who have lost their parents due to Covid-19 Pandemic.
      • NCPCR is a statutory body and works under the aegis of Ministry of Women and Child Development.
NCPCR has launched SAMVEDNA

International News

  1. India has virtually hosted the 7th meeting of the BRICS Astronomy Working Group (BAWG) under the Science, Technology, and Innovation track of the BRICS 2021.
      • The Inter-University Centre for Astronomy and Astrophysics (IUCAA), Pune, and Department of Science and Technology (DST) conducted the meeting.
  2. 33rd meeting of Health Ministers of Commonwealth countries was held on the theme of “Commonwealth Response to COVID-19: Ensuring Equitable Access to Vaccines and Building Resilience for Health Systems and Emergencies,” through video conference.
      • Dr Harsh Vardhan, Union Minister for Health and Family Welfare chaired the opening session of the meeting.

Banking & Economy

  1. Ministry of Finance has notified the amendment to the Indian Insurance Companies (Foreign Investment) Rules, 2021 for increasing the foreign direct investment limit in the insurance sector to 74% from the existing 49%
      • The new rules amended the Indian Insurance Companies (Foreign Investment) Rules, 2015.
  2. Tata Communications launched its CSR project named ‘School of Hope and Empowerment’ (S.H.E.) at the 2021 UNESCO World Conference on Education for Sustainable Development.
      • Purpose – to help a million women to realise their dreams of becoming entrepreneurs.
      • The initiative has been launched in partnership with The Better India.
      • During the virtual Conference, UNESCO announced to make environment education, a part of core curriculum in all countries.
  3. Equitas Small Finance Bank has become the first Small Finance Bank to offer online account opening services to its NRI customers.
      • The online process of account opening for NRIs can done via smart phone or computer connected to Internet.
  4. Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman virtually commemorated the 12th Annual Day of the Competition Commission of India (CCI).
      • The CCI was established under the Competition Act, 2002, on 20th May , 2009, for curbing the anti-competitive conduct came into force.
      • On this occasion, Smt. Sitharaman released the ‘CCI Journal on Competition Law and Policy’ and CCI’s Competition Advocacy Booklets translated into Bengali, Marathi and Tamil languages.
  5. International Monetary Fund (IMF) has proposed a $50 billion plan to end the Covid-19 pandemic.
      • The target is to vaccinate at least 40% of the world’s population by the end of 2021 and the remaining 60% by the first half of 2022.
      • This will require an investment of $9 trillion into the global economy by 2025.
      • This announcement was made at the Global Health Summit held in Rome, Italy as part of the G20.
  6. RBI has approved the transfer of Rs 99,122 crore as surplus to the government for July 2020-March 2021.
      • The RBI board further decided to maintain the contingency risk buffer at 5.50%.
      • The government had budgeted to receive a surplus of about Rs 50,000 crore from the RBI to be accounted for in the budget for 2021-22, while in 2019-20, the RBI had transferred Rs 57,128 crore as surplus.
      • RBI has changed its accounting year to April-March (earlier July-June).
  7. SEBI, in consultation with RBI, has doubled the overseas investment limit of Alternative Investment Funds (AIF) and Venture Capital Funds (VCF) to $1,500 million.
      • Currently, SEBI-registered AIF or VCF are permitted to invest overseas, subject to an overall limit of $750 million.
      • However, AIFs and VCFs have to mandatorily disclose the utilisation of overseas investment limits within five working days of such usage on the SEBI’s intermediary portal.
      • If AIF or VCF has not utilised the fund, then they should report the same within 2 days of the end of validity period (6 months).
  8. RBI has imposed a penalty of Rs 1 crore each on City Union Bank Ltd and Tamilnad Mercantile Bank. Both banks are headquartered in Tamil Nadu.
      • City Union was fined for non-compliance violations on lending to micro, small & medium enterprises, educational loans and contravention of credit flow to the agriculture sector, like waiver of margin and security requirements.
      • TMB was charged for violating provisions of on cyber security framework.

Appointments

  1. Public Enterprises Selection Board (PESB) has chosen Arvind Kumar as managing director of Chennai Petroleum Corporation Ltd, a unit of Indian Oil Corporation Ltd.
  2. US administration has announced that Indian-American Neera Tanden will now join the White House as a senior adviser to President Joe Biden.
Neera Tanden as a senior adviser

Awards

  1. Hockey India has won the prestigious Etienne Glichitch Award from FIH for the promoting hockey in the country.
      • The awards were announced by the FIH during the HockeyInvites virtual conference. It was part of its 47th FIH Congress.
      • The Pablo Negre Award was presented to the Uzbekistan Hockey Federation for its efforts towards improving playing conditions through new infrastructure and the implementation of youth development models.
      • The Theo Ikema Award was given to Polish Hockey Association for the various hockey development projects resulting in 30 newly trained coaches and over 3000 schoolchildren being introduced to the sport within the country.
      • Among individuals, England striker Sam Ward won the Super Fair Play Trophy René G Frank.
      • The Guust Lathouwers Memorial Trophy – for an individual who has made a significant mark on the development of umpiring – went to Croatia’s Ivona Makar.
      • Sharon Williamson of New Zealand was named as the winner of the HRH Sultan Azlan Shah Award for her contribution towards New Zealand’s brand-new National Hockey Centre.
Hockey India won award

Start Quiz of 23rd and 24th May 2021

Q.1) What is the name of the helpline launched by National Commission for Protection of Child Rights to provide psychological first-aid and emotional support to children affected during COVID-19 Pandemic?
 Q.2) Which of the following university collaborated with Department of Science and Technology for conducting the BRICS Astronomy Working Group (BAWG)?
Q.3) As per the Indian Insurance Companies (Foreign Investment) Rules, 2021, the foreign direct investment limit in the insurance sector has been increased from __ to ___?
 Q.4) Which company has launched 'School of Hope and Empowerment' (S.H.E.) as its CSR project at the 2021 UNESCO World Conference on Education for Sustainable Development?
 Q.5) Which has become the first Small Finance Bank to offer online account opening services to its NRI customers?
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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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