23rd April, 2021 – Daily News

Topics coveredUnique Land Parcel Identification Number, Ministry of labour and Employment’s three expert committees, India-US strategic energy partnership, 17th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Ministerial Meeting, ACI Worldwide’ “Prime Time for Real Time” report, retail inflation, NPCI Bharat BillPay Ltd., first-ever pooled bond issuance (PBI) transaction, Public Enterprises Selection Board, Employees State Insurance Corporation, World Autism Awareness Day, 51st edition of Dadasaheb Phalke award, The Rathbones Folio Prize 2021, Agriculture in India: Contemporary Challenges – in the Context of Doubling Farmers Income. 

Bulletins

  1. Central govt has launched the Unique Land Parcel Identification Number (ULPIN) scheme in 10 States this year and will be rolled out across the country by March 2022.

  2. Ministry of labour and Employment has set up three expert committees to review the existing rules and suggest standards under the Occupational Safety, Health and Working Conditions (OSH&WC) Code, 2020.

  3. India and the US plan to revamp the India-US strategic energy partnership to focus on new priorities like low-carbon pathways and accelerating green energy cooperation.

  4. External Affairs Minister of India has participated in the 17th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Ministerial Meeting.

  5. According to ACI Worldwide’ “Prime Time for Real Time” report, more than 70.3 billion real-time payments transactions were processed globally in 2020, which highlights a surge of 41% as compared to the previous year.

  6. Central govt has mandated RBI to maintain retail inflation at 4% with a margin of 2% on either side for another five-year period ending March 2026.

  7. National Payments Corporation of India (NPCI) has announced the formation of its wholly-owned subsidiary firm – NPCI Bharat BillPay Ltd. (NBBL) which is operational from April 1.

  8. CDC Group, has partnered with Northern Arc Capital (Indian company) for its first-ever pooled bond issuance (PBI) transaction in India worth Rs 320 crore.

  9. Virat Kohli has been appointed as the brand ambassador of the Digit Insurance (a unicorn start-up).

  10. Mallika Srinivasan has been appointed as the chairperson of the Public Enterprises Selection Board (PESB) for 3 years by the Ministry of Personnel.

  11. Eduard Heger has been appointed as the new PM of Slovakia (European country).

  12. Central government has appointed Mukhmeet S. Bhatia as the new director general of Employees State Insurance Corporation (ESIC).

  13. Britannia has appointed former RBI governor Urjit Patel as its additional director for a period of five years starting from March 31, 2021.

  14. World Autism Awareness Day is observed on April 2 by UN.

  15. Actor Rajnikanth will be receiving the 51st edition of Dadasaheb Phalke award for the year 2020.

  16. Carmen Maria Machado (American) has won The Rathbones Folio Prize 2021 for her ‘In The Dream House: A Memoir’ (her radical memoir about same-sex abuse).

  17. Vice President Shri M. Venkaiah Naidu released ‘Agriculture in India: Contemporary Challenges – in the Context of Doubling Farmers Income’ book by Dr Mohan Kanda.

Table of Content

National News

  1. Central govt has launched the Unique Land Parcel Identification Number (ULPIN) scheme in 10 States this year and will be rolled out across the country by March 2022.
      • Under the scheme, a 14-digit identification number will be issued to every plot of land in the country.
      • ULPIN is being described as “the Aadhaar for land” – a number that would uniquely identify every surveyed parcel of land and prevent land fraud, especially in rural India, where land records are outdated and disputed.
      • The land will be identified on the basis of longitude and latitude of the land parcel.
Unique Land Parcel Identification Number
  1. Ministry of labour and Employment has set up three expert committees to review the existing rules and suggest standards under the Occupational Safety, Health and Working Conditions (OSH&WC) Code, 2020.
Committees Chairperson Reasons
Expert Committee for Factories and Dock Works R. K. Elangovan (DG at Directorate General, Factory Advice and Labour Institutes (DGFASLI), Mumbai) To review rules under The Factories Act, 1948 to make recommendations to incorporate technological progress and system improvements. Dock Workers (Safety, Health Welfare) Regulations 1990 will be reviewed to incorporate the advancements.
Expert Committees for the Building & Other Construction Works P.L.N. Murthy (VP & Head of Domestic Operations at L&T Hydrocarbon) Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Central Rules, 1998 will be reviewed to meet the global standards.
Expert Committees on Fire Safety D. K. Shami (Fire Advisor to the Government of India, Ministry of Home Affairs) For strengthening fire safety measures.
  1. India and the US plan to revamp the India-US strategic energy partnership to focus on new priorities like low-carbon pathways and accelerating green energy cooperation.
      • In 2018, India-US strategic energy partnership was established.
      • Both countries agreed to prioritise greater collaboration in cleaner energy sector- biofuels, CCUS, hydrogen production and carbon sequestration through technology exchange, joint R&D through Partnership to Advance Clean Energy Research (PACE-R), among other initiatives.

International News

  1. External Affairs Minister of India has participated in the 17th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Ministerial Meeting.
      • This virtual meeting was chaired by Sri Lanka.
      • All the members endorsed the BIMSTEC Master Plan for Transport Connectivity for adoption at the next BIMSTEC Summit, which will be held in Sri Lanka.
      • The meeting also endorsed three MoU /agreements relating to convention on Mutual Legal Assistance in Criminal matters, cooperation between diplomatic and training academies and establishment of BIMSTEC Technology Transfer Facility in Colombo (Sri Lanka).
      • BIMSTEC Centre for Weather and Climate, being hosted in India, is fully functional to provide Disaster Early Warnings.

Banking & Economy

    1. According to ACI Worldwide’ “Prime Time for Real Time” report, more than 70.3 billion real-time payments transactions were processed globally in 2020, which highlights a surge of 41% as compared to the previous year.
        • The report analysed 48 global markets. It projected a Compound Annual Growth Rate (CAGR) for real-time payments of 23.6% from 2020 to 2025.

Global Facts:

        • Worldwide the mobile wallet adoption rose to a historic high of 46% in 2020, up from 40.6% in 2019 and 18.9% in 2018.
        • On a global level, the total number of real-time transactions in 2020 was 70.3 billion, up 41% from 50 billion in 2019.
        • Globally, card-related fraud remains the highest in terms of reported incidents from consumers.
        • Real-time payments scams that were on the rise include confidence tricks, Identity theft, and digital wallet account hacks.

India Related Facts:

      • India has retained the top spot with 25.5 billion real-time payments transactions, followed by China with 15.7 bn transactions.
      • In 2020, the transaction volume share in India stood at 15.6% and 22.9% for instant payments and other electronic payments respectively, while paper-based payments had a considerable share of 61.4%.
      • As per this report, by 2024 the share of real-time payments volume in overall electronic transactions will exceed 50% in India. This will further touch 71.7% by 2025.
  1. Central govt has mandated RBI to maintain retail inflation at 4% with a margin of 2% on either side for another five-year period ending March 2026.
      • The target of 4% with a band of +/- 2% was decided in 2016 till March 2021 under the Reserve Bank of India Act 1934.
      • During 2016-21, CPI inflation averaged closer to the target at 3.9% and inflation volatility declined to 1.4 during October 2016-March 2020 from 2.4 in 2012-16.
  2. National Payments Corporation of India (NPCI) has announced the formation of its wholly-owned subsidiary firm – NPCI Bharat BillPay Ltd. (NBBL) which is operational from April 1.
      • The new entity offers various recurring payment services to customers, including bill payments for electricity, telecom, DTH, Gas, Education fees, water and municipal taxes, NETC FASTag recharge etc.
      • Paid up capital of NBBL is Rs 5 lakh and authorised share capital is Rs 1 crores.
      • Banks and aggregators on the Bharat Bill Payment Operating Units will now be operating on the NBBL platform from April 1.
      • First subsidiary of NPCI is NPCI International Payments Ltd. Bharat Bills is the second subsidiary of NPCI.
      • NBBL was registered in December 2020. It has three directors – Dilip Asbe (NPCI’s CEO), Ravindra Pandey (SBI’s MD and chief digital officer) and Biswamohan Mohapatra (NPCI’s chairman).
  3. CDC Group, has partnered with Northern Arc Capital (Indian company) for its first-ever pooled bond issuance (PBI) transaction in India worth Rs 320 crore.
      • This transaction will support six leading Indian microfinance institutions which are Annapurna Finance, Arohan Financial Services, ASA International, Asirvad Microfinance Limited, Chaitanya India and Fusion Microfinance.
      • CDC’s investment, in a pool of senior secured Non-Convertible Debentures, will provide systemic liquidity to these microfinance institutions for further lending.
      • The PBI product, developed by Northern Arc, pools together a set of debentures issued by diverse entities for one investor. These debentures are partially guaranteed by Northern Arc.
      • CEO of Northern Arc Capital – Dr Kshama Fernandes.
      • CDC Group is a development finance institution (DFI) and an impact investor in the UK. CDC is funded by the UK government.

Appointments

  1. Virat Kohli has been appointed as the brand ambassador of the Digit Insurance (a unicorn start-up).
  2. Mallika Srinivasan has been appointed as the chairperson of the Public Enterprises Selection Board (PESB) for 3 years by the Ministry of Personnel.
      • She is the Chairman and Managing Director of Tractors and Farm Equipment (TAFE) Limited.
      • She has become the first person from the private sector to be appointed as the head of the PESB.
  3. Eduard Heger has been appointed as the new PM of Slovakia (European country).
      • Capital: Bratislava
      • Currency: Euro
  4. Central government has appointed Mukhmeet S. Bhatia as the new director general of Employees State Insurance Corporation (ESIC).
      • Employees’ State Insurance Act, 1948 envisioned the establishment of the ESIC.
  5. Britannia has appointed former RBI governor Urjit Patel as its additional director for a period of five years starting from March 31, 2021.
      • Patel will be the Additional Director of the company in the category of Non-Executive and Independent Director.

Important Days

  1. World Autism Awareness Day is observed on April 2 by UN.
      • A virtual event titled ‘Inclusion in the Workplace: Challenges and Opportunities in a Post-Pandemic World’ was also held.
      • Autism is a developmental disorder of variable severity that is characterized by difficulty in social interaction and communication and by restricted or repetitive patterns of thought and behaviour.
World Autism Awareness Day on April 2 by UN.

Awards

  1. Actor Rajnikanth will be receiving the 51st edition of Dadasaheb Phalke award for the year 2020.
      • He has been honoured for his contribution as actor, producer and screenwriter.
  2. Carmen Maria Machado (American) has won The Rathbones Folio Prize 2021 for her ‘In The Dream House: A Memoir’ (her radical memoir about same-sex abuse).
      • The prize is open to all genres – fiction, non-fiction, and poetry- for writers from around the world.
      • It is the only prize in which all the books considered for the prize are selected and judged by an academy of peers, though there are three main judges.
      • Rathbone Investment Management (a UK-based company) gives this prize.
Carmen Maria Machado has won The Rathbones Folio Prize 2021

Miscellaneous

  1. Vice President Shri M. Venkaiah Naidu released ‘Agriculture in India: Contemporary Challenges – in the Context of Doubling Farmers Income’ book by Dr Mohan Kanda.

Start Quiz of 23rd April 2021

Q.1) In how many states has the govt launched the Unique Land Parcel Identification Number (ULPIN) scheme?
Q.2) How many digits will the Unique Land Parcel Identification Number – “the Aadhaar for land” – contain?
Q.3) Who heads the Expert Committee for Factories and Dock Works?
Q.4) Who heads the Expert Committees on Fire Safety formed by Ministry of Labour?
Q.5) Recently formed Expert Committees for the Building & Other Construction Works will review the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Central Rules. When were these ruled implemented?
Q.6) Which country chaired the 17th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Ministerial Meeting?
Q.7) Which country is hosting the BIMSTEC Centre for Weather and Climate?
Q.8) According to the “Prime Time for Real Time” report, more than 70.3 billion real-time payments transactions were processed globally in 2020, which highlights a surge of 41% as compared to the previous year. Worldwide the mobile wallet adoption rose to a historic high of 46% in 2020, up from 40.6% in 2019 and 18.9% in 2018. As far as India is concerned, the report exuberates confidence in the growth of real time payments transactions which, according to the report, are expected to account for 50% of the overall electronic transactions by 2024. Which of the following organizations has released this report?
Q.9) How much is the paid share capital of NPCI Bharat BillPay Ltd?
Q.10) Who has been appointed as the chairperson of the Public Enterprises Selection Board?
Q.11) With which company has UK-based CDC Group company partnered to conduct its first-ever pooled bond issuance (PBI) transaction in India worth Rs 320 crore?
Q.12) Who has been appointed as the brand ambassador of the Digit Insurance?
Q.13) What is the capital of Slovakia?
Q.14) Who has been appointed as the new director general of Employees State Insurance Corporation?
Q.15) Who will be receiving the 51st edition of Dadasaheb Phalke award for the year 2020?
Q.16) Who is the author of 'In The Dream House: A Memoir'?
Q.17) Who is the author of Agriculture in India: Contemporary Challenges - in the Context of Doubling Farmers Income book?
Q.18) When is World Autism Awareness Day celebrated?
Q.19) Who is the CEO of Northern Arc Capital?
Q.20) Who is the CEO of National Payments Corporation of India?
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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