25th August, 2021 – Daily News

Topics covered – ‘Forum for Decarbonising Transport’, Operation Devi Shakti, New Education Policy, Central Drug Laboratories , National Centre for Coastal Research , ”Yuktdhara” portal , India-ASEAN Engineering Partnership Summit , National Database for Unorganised Workers, Mission Shakti SHGs, Ganga Expressway project , fair and remunerative price (FRP) of sugarcan, C-130J Super Hercules tactical airlifter aircraft , Krivak or Talwar class stealth frigates , World’s tallest wheel , Global Manufacturing Risk Index 2021, National Monetisation Pipeline , Key Indicators for Asia and the Pacific 2021, Expert Committee on Primary (Urban) Co-operative Banks, Akshay Urja Diwas , World Water Week 2021 , World Table Tennis Contender 2021 , ‘The Kapil Sharma Story’.

Bulletins

  1. NITI Aayog has launched the ‘Forum for Decarbonising Transport’, in partnership with World Resources Institute (WRI).
  2. India has launched the “Operation Devi Shakti” – evacuation operation – in Afghanistan in the backdrop of the Taliban’s takeover of the country last week.
  3. Ministry of Education has launched various initiatives under New Education Policy.
  4. Central govt has identified two autonomous institutes of the department of biotechnology (DBT)—the National Institute of Animal Biotechnology (NIAB), Hyderabad and National Centre for Cell Science (NCCS), Pune for upgradation as Central Drug Laboratories (CDLs).
  5. National Centre for Coastal Research (NCCR) under the Union Ministry of Earth Sciences has conducted a study of India’s coastline over 1990-2018 by using satellite data.
  6. Minister of Rural Development and Panchayati Raj Giriraj Singh has launched ”Yuktdhara” portal – new geospatial planning portal – for keeping a record of assets created under rural development programs.
  7. India-ASEAN Engineering Partnership Summit was held recently.
  8. Ministry of Labour has announced to launch National Database for Unorganised Workers (NDUW) or e-Shram portal to provide a common platform millions of unorganised workers.
  9. Odisha govt has signed an MoU with Urban Management Centre, Ahmedabad for capacity building of the Mission Shakti SHGs. Punjab National Bank has sanctioned ₹ 5100 crore loan for the 594-kilometre-long Ganga Expressway project between Prayagraj and Meerut in Uttar Pradesh.
  10. Punjab National Bank has sanctioned ₹ 5100 crore loan for the 594-kilometre-long Ganga Expressway project between Prayagraj and Meerut in Uttar Pradesh.
  11. Cabinet Committee on Economic Affairs (CCEA) has approved the highest ever fair and remunerative price (FRP) of sugarcane for the 2021-22 season.
  12. India and Philippines Navies conducted the Maritime Partnership Exercise in the West Philippine Sea.
  13. Indian Air Force (IAF) has given the contract of maintenance of India’s fleet of 12 C-130J Super Hercules tactical airlifter aircraft to Lockheed Martin (US company) for $328.8 million.
  14. In 2016, India signed an inter-governmental agreement with Russia for developing four Krivak or Talwar class stealth frigates — two to be procured directly from Russia and two to be built by the Goa Shipyard Limited (GSL).
  15. Pakistan has successfully tested the ‘indigenously’ developed Fatah-1 —guided multi-launch rocket system.
  16. World’s tallest wheel named as Ain Dubai has been established at Bluewaters Island, Dubai, UAE. It is twice the height of the London Eye.
  17. Cushman and Wakefield has released the Global Manufacturing Risk Index 2021.
  18. Ministry of Finance has launched the National Monetisation Pipeline through which the govt aims to collect Rs 6 lakh crores ($81 billion) by FY25.
  19. Asian Development Bank has released the Key Indicators for Asia and the Pacific 2021 report to assess the progress made by the region in the last two decades with respect to several development targets.
  20. In Feb 2021, RBI had created an Expert Committee on Primary (Urban) Co-operative Banks, headed by NS Vishwanathan, to provide a road map for strengthening the Urban Co-op sector in India.
  21. RBI has proposed to tweak the existing norms that provide a leeway to large Indian companies, start-ups and multinationals with an India presence for tax evasion.
  22. Microsoft India has partnered with Invest India to support tech start-ups in India.
  23. Akshay Urja Diwas (National Renewable Energy Day) is celebrated every year on August 20 since 2004.
  24. World Water Week 2021 is observed from August 23 to 27.
  25. All India Chess Federation and Chess Players Association of India have collaborated to administer the game of chess in India.
  26. World Table Tennis Contender 2021 was held in Budapest, Hungary.
  27. ‘The Kapil Sharma Story’ has been written by Ajitabha Bose and Dharmendra.
  28. Former Indian Footballer O Chandrasekharan has passed away.

Table of Content

National News

  1. NITI Aayog has launched the ‘Forum for Decarbonising Transport’, in partnership with World Resources Institute (WRI).
      • Purpose – the forum will provide a platform for coordination and collaboration among different stakeholders for faster adoption of electric mobility and reducing carbon emissions from the transport sector.
      • India is currently engaged in building a domestic renewable automotive industry with the aim to become the world’s largest electric vehicle manufacturing and supplying hub.
      • The forum is a part of the Nationally Determined Contribution -Transport Initiative for Asia (NDC-TIA) project which focuses on developing a coherent strategy of effective policies and the formation of a multi-stakeholder platform for decarbonising transport in the region.
        • It is a joint programme of seven organisations that will engage China, India, and Vietnam in promoting a comprehensive approach to decarbonising transport in their respective countries.
        • The project is part of the International Climate Initiative (IKI).
        • The project was launched in 2020.
        • Name of the participant organizations:
          • GIZ GmbH
          • International Council on Clean Transportation (ICCT)
          • World Resources Institute (WRI)
          • International Transport Forum (ITF)
          • Agora Verkehrswende (AGORA)
          • Partnership on Sustainable, Low Carbon Transport (SLoCaT) Foundation
          • Renewable Energy Policy Network for the 21st Century e.V. (REN21)
  2. India has launched the “Operation Devi Shakti” – evacuation operation – in Afghanistan in the backdrop of the Taliban’s takeover of the country last week.
  3. Ministry of Education has launched various initiatives under New Education Policy.
      • For the first time, virtual school of National Institute of Open Schooling was launched on virtual.nios.ac.in.
      • ‘Priya – The Accessibility Warrior’ comic-cum-activity book has been launched to sensitize the students on accessibility related issues for Divyangs.
      • It has been developed by Department of Empowerment of Person with Disabilities and Department of School Education and Literacy.
      • The comic book is also available in Indian sign language.
  4. Central govt has identified two autonomous institutes of the department of biotechnology (DBT)—the National Institute of Animal Biotechnology (NIAB), Hyderabad and National Centre for Cell Science (NCCS), Pune for upgradation as Central Drug Laboratories (CDLs).
      • Purpose – to establish more facilities to regulate the testing of covid-19 vaccines for quick release of vaccine batches.
      • The funding support for the same was provided under the PM-Cares funds.
  5. National Centre for Coastal Research (NCCR) under the Union Ministry of Earth Sciences has conducted a study of India’s coastline over 1990-2018 by using satellite data.
      • During the 28 years’ period, one-third of India’s coastline (32%) was eroded.
      • During the same period, 27% of coastline expanded.
      • The states which were worst affected by erosion are West Bengal (with 60% of its coastline being eroded), followed by Puducherry, Kerala, Tamil Nadu, Andhra Pradesh, Gujarat (including Daman and Diu), Odisha, Karnataka, Maharashtra, and Goa.
      • The states which expanded the most are Odisha (51% expansion in coastline), followed by Andhra Pradesh, Karnataka, West Bengal, Tamil Nadu, Kerala, Gujarat (including Daman and Diu), Goa, Maharashtra and Puducherry. </li
      • The country’s coastline is 6,631.53 kilometres long: 2,135.65 kilometres was subject to varying degrees of erosion and 1,760.06 km expanded during this period. Nearly 2,700 km of the coastline is stable.
      • The information was tabled by Parshottam Rupala, Union Minister of Fisheries, Animal, Husbandry and Dairying in response to a question in the Lok Sabha on August 10, 2021.
  6. Minister of Rural Development and Panchayati Raj Giriraj Singh has launched ”Yuktdhara” portal – new geospatial planning portal – for keeping a record of assets created under rural development programs.
      • ISRO and the Minister of Rural Development have jointly developed the portal. It has been developed under the Bhuvan services portal.
      • This platform will serve as a repository of assets (in the form of geotags) that have been created under various national rural development programmes such as MGNREGA, Integrated Watershed Management Programme, Per Drop More Crop programme and Rashtriya Krishi Vikas Yojana, along with field photographs.
      • The portal will facilitate planning of new MGNREGA assets using remote sensing and GIS (geographic information system)-based information.
      • Another service, JANMANREGA (a citizen-centric mobile application) provides feedback to the rural population using Bhuvan services.
  7. India-ASEAN Engineering Partnership Summit was held recently.
      • According to Minister of state for commerce Anupriya Patel, India’s export to the ASEAN region would reach $46 billion in FY22.
      • Recently, the Central govt has set a target of exporting goods worth $400 billion to the world in FY22.
  8. Ministry of Labour has announced to launch National Database for Unorganised Workers (NDUW) or e-Shram portal to provide a common platform millions of unorganised workers.
      • It is estimated that 92% of India’s workforce of 500 million is unorganised, often deprived of minimum wages and any form of social security.

State News

  1. Odisha govt has signed an MoU with Urban Management Centre, Ahmedabad for capacity building of the Mission Shakti SHGs.
      • Mission Shakti SHGs is the self-help mission for empowering women through promotion of Women Self Help Groups (WSHGs) to take up various socio-economic activities which was launched in the state in 2001.
      • Mission Shakti SHG members are also engaged as Jal Sathi (who distribute and manage clean water), managing Ahaar Kendra, engaged as Swachha Sathi and Swachha Supervisors, and transporting waste by driving Battery Operated Vehicles.
  2. Punjab National Bank has sanctioned ₹ 5100 crore loan for the 594-kilometre-long Ganga Expressway project between Prayagraj and Meerut in Uttar Pradesh.
      • This expressway will be the longest in north India and the second longest in the country. The project’s estimated cost is ₹36,230 crore.
      • The Purvanchal Expressway is in the final stages of completion and the Bundelkhand Expressway would also be completed soon.

Agriculture and Rural Development

  1. Cabinet Committee on Economic Affairs (CCEA) has approved the highest ever fair and remunerative price (FRP) of sugarcane for the 2021-22 season.
      • The FRP of Rs 290 per quintal for sugarcane farmers for a basic recovery rate of 10%. If recovery is less than 9.5%, then farmers will be given ₹275 per quintile.
      • Recovery rate means the proportion of sugar that can be produced from a certain quantity of sugarcane.
      • The cost of production of sugarcane for the sugar season 2021-22 is Rs 155 per quintal and the FRP of Rs 290 per quintal at a recovery rate of 10% is higher by 87.1% over production cost, giving the farmers a return of much more than 50 over their cost.
      • About 60 LMT of sugar is targeted to be diverted to ethanol by 2024-25.
      • The central govt decides minimum support price for 22 crops and FRP for sugarcane. FRP mandates sugar mills to purchase sugarcane from farmers at the pre-determined FRP, irrespective of the loss incurred to the sugar mills.

Defence News

  1. India and Philippines Navies conducted the Maritime Partnership Exercise in the West Philippine Sea.
      • INS Ranvijay (Guided Missile Destroyer, D55) and INS Kora (Guided Missile Corvette, P61) carried out the maritime exercise with BRP Antonio Luna (Frigate, FF 151) of the Philippine Navy.
  2. Indian Air Force (IAF) has given the contract of maintenance of India’s fleet of 12 C-130J Super Hercules tactical airlifter aircraft to Lockheed Martin (US company) for $328.8 million.
      • Lockheed Martin manufactures the highly regarded Super Hercules transport aircraft.
      • The arrangement is called a “Follow On Support-II” (FOS-II) contract.
      • IAF also operates C-17 Globemaster III aircrafts that have been procured from Boeing.
  3. In 2016, India signed an inter-governmental agreement with Russia for developing four Krivak or Talwar class stealth frigates — two to be procured directly from Russia and two to be built by the Goa Shipyard Limited (GSL).
      • The procurement is being done for $1-billion. GSL is developing the two frigates for $500 million.
      • The first of the two frigates – that will be procured from Russia – will be delivered by Russia in 2023.
      • The frigates that GSL is developing will be delivered in 2026 and six months later respectively.
      • Indian Navy currently operates six Krivak class frigates weighing around 4,000 tonnes procured in two different batches.

International News

  1. Pakistan has successfully tested the ‘indigenously’ developed Fatah-1 —guided multi-launch rocket system.
      • Shaheen is a range of surface-to-surface, medium range ballistic missiles.
  2. World’s tallest wheel named as Ain Dubai has been established at Bluewaters Island, Dubai, UAE. It is twice the height of the London Eye.
Ain Dubai

Reports & Indices

  1. Cushman and Wakefield has released the Global Manufacturing Risk Index 2021.
      • Total – 47 countries
      • India’s rank – Baseline Rank: 2nd, Cost Rank: 3rd, Risk Rank: 28th
      • Parameters – The Manufacturing Risk Index (MRI) assesses the most suitable locations for global manufacturing among 47 countries in EMEA, the Americas and Asia-Pacific.
      • The Bounce Back rating measures a country’s ability to restart its manufacturing sector. Those with economic conditions and infrastructure supportive of a faster recovery are at the top of the ranking, while those with more obstacles to achieving a full recovery are at the bottom.
Conditions Risks Costs
Talent/Labor Force Natural Disaster Risk Manufacturing Labor costs per hour
Logistics/Access to markets Economic Risk Electricity For Industrial/Heavy Use (Price Per Hour)
Business Environment Corporate Risk Construction Building Costs
Sustainability/Corporate Responsibility Energy Risk Registering Property Costs (% of Income Per Capita)
Global Manufacturing  Destinations
Cost Scenario Global Manufacturing Destinations
Risk scenario of Global Manufacturing Destinations

Banking & Economy

  1. Ministry of Finance has launched the National Monetisation Pipeline through which the govt aims to collect Rs 6 lakh crores ($81 billion) by FY25.
      • Brownfield assets belonging to a total of 20 asset classes (belonging to 12 ministries) will be monetised.
      • Under the Asset monetisation pipeline, the govt will give its assets on a long term lease. The money gathered through this pipeline will be used for further asset creation under National Infrastructure Pipeline (of Rs 100 lakh crores).
      • The NMP will run co-terminus with the National Infrastructure Pipeline of Rs 111 lakh crore announced in December 2019.
      • In a monetisation transaction, the government is basically transferring revenue rights to private parties for a specified transaction period in return for upfront money, a revenue share, and commitment of investments in the assets.
Monetisation Pipeline
Monetisation Pipeline
Shares of sectors in terms of Indicative monetisation value in NMP
Road Monetisation Plan
Monetisation Pipeline for Railways
Power Transmission for National Monetisation
  1. Asian Development Bank has released the Key Indicators for Asia and the Pacific 2021 report to assess the progress made by the region in the last two decades with respect to several development targets.
      • Key indicators present comprehensive economic, financial, social and environmental statistics for ADB’s 49 regional members (including India).
      • The pandemic pushed 75-80 million people in developing Asia-Pacific into extreme poverty in 2020.
      • About 203 million people — 5.2% of developing Asia’s population — lived in extreme poverty (defined as living on less than $1.90 (Rs 141) a day) as of 2017. Without COVID-19, that number would have declined to an estimated 2.6% in 2020.
      • 71% of Asia-Pacific’s workforce is now in non-agricultural employment, which grew from 52% between 2000-2019.
      • Prior to the COVID-19 pandemic, Asia-Pacific had been experiencing steady progress in several SDG III health targets, particularly on maternal and child mortality.
      • The prevalence of undernourishment decreased from more than 521 million people in 2001 to 316 million in 2019.
      • Unemployment rates increased by at least 20% in 2020 due to the COVID-19 pandemic across the globe, the Asia-Pacific region lost an estimated 8% of working hours.
      • In July, ADB had released its Asian Development Outlook-2021. (Look for the change in GDP projections and also look for the division of Asia by ADB).
Asia and the Pacific 2021 report
  1. In Feb 2021, RBI had created an Expert Committee on Primary (Urban) Co-operative Banks, headed by NS Vishwanathan, to provide a road map for strengthening the Urban Co-op sector in India.
      • The committee has now submitted its report.
Recommendations
A) Regulatory Framework
○ Categories of UCBs
◾ Tier 1 - All unit UCBs and salary earner’s UCBs (irrespective of deposit size), and all other UCBs having deposits up to ₹100 crore
◾ Tier 2 - UCBs with deposits more than ₹100 crore and up to ₹1000 crore
◾ Tier 3 - UCBs with deposits more than ₹1000 crore and up to ₹10,000 crore
◾ Tier 4 - UCBs with deposits more than ₹10,000 crore
○ Prescriptions for Tier 1 UCBs
◾ Meets the minimum net worth criteria of ₹2 crore / ₹5 crore
Sr. No. Condition Minimum Required CRAR(%)
1. Meets the minimum net Worth criteria of Rs.2 Crore / Rs. 5 crore and is a member of UO 9.0
2. Meets the minimum net Worth criteria of Rs.2 Crore / Rs. 5 crore and but is not a member of UO 11.5
3. Dpes not Meet the minimum net Worth criteria of Rs.2 Crore/Rs. 5 crore and is a member of UO 11.5
4. Does not meet the minimum net Worth criteria of Rs.2 Crore/Rs. 5 crore and is also not a member of UO 14.0
○ The new branch(es) should be opened in an unbanked area within the district of operation of the banks requiring a minimum capital of ₹2 crore, and in current districts of operation or adjoining districts in case of banks requiring a minimum capital of ₹5 crore.
○ 75% of the Adjusted Net Bank Credit (ANBC) / Credit Equivalent of Off-Balance Sheet Exposures (CEOBE) of banks in this tier shall meet PSL (Priority Sector Lending) criteria and 50% of their credit portfolio should consist of loans of up to ₹25 lakh. Banks have to comply with this exposure requirement by March 2024.
Prescriptions for Tier 2 UCBs
◾ Minimum CRAR of 15% on credit risk. The minimum CRAR requirement may be reduced by 1% upon the bank becoming a member of the UO.
◾ 75% of the Adjusted Net Bank Credit (ANBC) / Credit Equivalent of Off-Balance Sheet Exposures (CEOBE) of banks in this tier shall meet PSL criteria and 50% of their credit portfolio should consist of loans of ticket size up to ₹25 lakh.
Prescriptions for Tier 3 UCBs
◾ For Tier-3 UCBs (deposits between ₹1,000 crore and up to ₹0,000 crore), the minimum CRAR could be 15% as applicable to small finance banks.
◾ PSL norms are same as applicable to Small Finance Banks.
Prescriptions for Tier 4 UCBs
◾For Tier 4 UCBs (deposits above ₹10,000 crore), the minimum CRAR could as per Basel III prescriptions as applicable to universal banks.
◾ PSL norms are same as applicable to Small Finance Banks.
B) Setting up of Umbrella Organisation (UO)
○ National Federation of Urban Co-operative Banks and Credit Societies Ltd (NAFCUB) should expedite the process of setting up the Umbrella Organisation (UO) so that it can provide support with regard to IT infrastructure, capital, liquidity, and training, to its member urban co-operative banks (UCBs).
○ The Committee suggests that the grant of new licences for setting up UCBs could be considered after the UO satisfactorily emerges as a stabilising arrangement.
○ In the long run, the UO may take up the role of a Self-Regulatory Organization (SRO) for smaller UCBs, where the UO could run an independent audit/ inspection and supervisory division that may conduct both offsite and onsite supervision.
○ The minimum capital for the UO should be ₹300 crore with CRAR and regulatory framework akin 30 to the largest segment of NBFCs.
C) Recommendations on Resolution of UCBs
○ Under Section 45 of the Banking Regulation Act, read with Section 56 thereof, RBI can prepare scheme of compulsory amalgamation or reconstruction of UCBs, like banking companies. However, this shall remain the last resort for resolution.
  1. RBI has proposed to tweak the existing norms that provide a leeway to large Indian companies, start-ups and multinationals with an India presence for tax evasion.
      • RBI has decided to consider any investment made outside India as an entity. If it, in turn, invests in India, for the purpose of tax evasion, then it will be treated as round-tripping.
      • These rules are similar to the General Anti Avoidance Rule (GAAR), followed by the Income Tax Department of India.
  2. Microsoft India has partnered with Invest India to support tech start-ups in India.
      • Under this collaboration, Microsoft for Startups program will work with the Government’s Accelerating Growth for New India’s Innovations (AGNIi Mission), a program of the Office of the Principal Scientific Adviser to the Government of India which helps start-ups become enterprise ready.
      • 11 start-ups from different field have been onboarded by Microsoft India.

Important Days

  1. Akshay Urja Diwas (National Renewable Energy Day) is celebrated every year on August 20 since 2004.
      • August 20 is the birth anniversary of Former PM Rajiv Gandhi.
  2. World Water Week 2021 is observed from August 23 to 27.
      • Theme – Building Resilience Faster
      • World Water Week is the leading annual event on global water issues, organized by Stockholm International Water Institute since 1991.
      • Stockholm Water Prize 2021 has been won by Sandra Postel for her extraordinary work in water conservation. She is the founder of Global Water Policy Project, co-creator of the water stewardship initiative Change the Course, as well as a prolific writer and a sought-after communicator.

Sports

  1. All India Chess Federation and Chess Players Association of India have collaborated to administer the game of chess in India.
  2. World Table Tennis Contender 2021 was held in Budapest, Hungary.
Table Tennis Contender 2021

Miscellaneous

  1. ‘The Kapil Sharma Story’ has been written by Ajitabha Bose and Dharmendra.
  2. Former Indian Footballer O Chandrasekharan has passed away.

Start Quiz of 25th August 2021

Q.1) Which of the following is the partner organization of NITI Aayog in the ‘Forum for Decarbonising Transport’?
Q.2) What is the purpose of Operation Devi Shakti?
Q.3) With which country did Philippines conduct Maritime Partnership Exercise in the West Philippine Sea?
Q.4) What is India’s rank in the baseline scenario of Global Manufacturing Risk Index 2021?
Q.5) How much does India want to achieve in FY22 through National Monetisation Pipeline?
Q.6) Which state witnessed the highest coastal erosion during 1990 to 2018, as per the National Centre for Coastal Research’s data?
Q.7) How much is the fair and remunerative price (FRP) of sugarcane for the 2021-22 season?
Q.8) How much is the prevalence of undernourishment in the Asia-Pacific region in 2019, as per the Asian Development Bank’s Key Indicators for Asia and the Pacific 2021 report?
Q.9) What is the minimum capital requirement for setting up an Umbrella Organisation for Co-operative banks?
Q.10) Who is the winner of Stockholm Water Prize 2021?
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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