27th August, 2021 – Daily News

Topics covered – Centre for Digital Transformation, Amrit Mahotsav App Innovation Challenge 2021 , India–ISA Energy Transition Dialogue 2021 , US-India Strategic Partnership Forum, US-India Climate Technologies Action Group , News Broadcasters and Digital Association , Women Entrepreneurship Platform , India size survey , MANTHAN-2021, new education policy, Kazind-21, Malabar exercise , MeitY Startup Hub, SARS-CoV-2 NGS , National Security Advisers of the India-Brazil-South Africa Trilateral Cooperative Forum , second meeting of BRICS Finance Ministers and Central Bank Governors, Income Tax (25th Amendment) Rules, 2021, Baghat Urban Co-operative Bank Limited, United Nations World Food Programme , KBL FASTag, Women Equality Day , brand ambassador of Uttarakhand , Appointments Committee of the Cabinet , 2021 ITTF Czech International Open, ‘Accelerating India: 7 Years of Modi Government’.

Bulletins

  1. Indian Institute of Management-Ahmedabad (IIM-A) has launched a Centre for Digital Transformation, in collaboration with Bank of America.
  2. Ministry of Electronics and Information Technology (MeitY) has launched the Amrit Mahotsav App Innovation Challenge 2021 to identify the best Indian Apps, which have the potential to scale and become world class Apps in their respective categories.
  3. India–ISA Energy Transition Dialogue 2021 being organized by the International Solar Alliance and Ministry of New and Renewable Energy.
  4. US Trade and Development Agency (USTDA) and US-India Strategic Partnership Forum (USISPF) have launched the US-India Climate Technologies Action Group (CTAG).
  5. News Broadcasters Association (NBA) has decided to change its name to the News Broadcasters and Digital Association (NBDA) to bring within its purview digital media news broadcasters.
  6. India plans to force refineries and fertiliser plants to use some green hydrogen.
  7. Niti Aayog and the Cisco (US-based tech giant) has launched the next phase of the Women Entrepreneurship Platform (WEP), which is titled as ‘WEP Nxt’.
  8. Ministry of Textile and National Institute of Fashion Technology (NIFT) have launched an India size survey named as INDIAsize to remove with the confusion of size.
  9. Ministry of Education has launched MANTHAN-2021, which has been organized by Bureau of Police Research and Development (BPR&D) in coordination with the Innovation Cell of the Ministry and All India Council for Technical Education (AICTE).
  10. Madhya Pradesh has become the second state to implement the new education policy.
  11. 5th edition of Indo-Kazakhstan joint army training exercise, “Kazind-21” will be conducted at the training node in Aisha Bibi, Kazakhstan, from August 30 to September 11.
  12. 25th edition of the Malabar exercise took place off the coast of Guam in the Philippine Sea.
  13. MeitY Startup Hub, an initiative of the Ministry of Electronics and Information Technology (MeitY), has signed an MoU with Paytm to support deep-tech startups.
  14. Ministry of Civil Aviation has signed an MoU with the Adani Group to provide services at three airports in Jaipur, Guwahati and Thiruvananthapuram.
  15. SARS-CoV-2 NGS (Next Generation Sequencing)-BRICS consortium is an interdisciplinary collaboration to advance COVID-19 health-relevant knowledge.
  16. National Security Adviser (NSA) Ajit Doval hosted the inaugural meeting of the National Security Advisers of the India-Brazil-South Africa Trilateral Cooperative Forum (IBSA).
  17. Union Minister for Finance & Corporate Affairs Nirmala Sitharaman virtually chaired the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) with Reserve Bank Governor Shaktikanta Das under Indian BRICS Chairship.
  18. Central Board of Direct Taxes (CBDT) has notified the Income Tax (25th Amendment) Rules, 2021.
  19. RBI has imposed a penalty of Rs 15 lakh on the Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh for violation of certain norms, including, those related to NPA classification.
  20. India has extended USD 1 million aid to the United Nations World Food Programme (WFP) in Zimbabwe to help affected populations tackle climate shocks.
  21. LoanTap, in partnership with SBM Bank, has launched its first LIMITLESS credit line backed prepaid card, which is powered by Rupay.
  22. Ujjivan Small Finance Bank and Decimal Technologies (fintech company) have partnered to allow Ujjivan to use Decimal’s digital lending platform, Saarathi.
  23. Google has partnered with Setu (fintech company) to allow its users to open fixed deposits (FDs) through Google Pay.
  24. Karnataka Bank has launched “KBL FASTag”, in partnership with NPCI and M/s Worldline (the FASTag processor), to facilitate seamless movement of vehicles at the toll plazas across India.
  25. Moody’s Investors Service has increased the asset risks for Indian banks.
  26. HDFC Bank became the first Indian lender to list its $1 billion foreign currency additional tier-I (AI-1) bonds, on the International Financial Services Centre (IFSC) of the Gujarat International Finance Tec-City (GIFT).
  27. NTPC Ltd has recruited its first all-female Engineering Executive Trainees (EETs) batch on the occasion of Women Equality Day (August 26).
  28. RBI has promoted three Grade F officers – Ajay Kumar, A.K. Choudhary and Deepak Kumar – to the post of executive directors (EDs)
  29. Pawandeep Rajan (winner of Indian Idol) has been appointed as the brand ambassador of Uttarakhand for tourism, culture and arts.
  30. Appointments Committee of the Cabinet has approved the extension of the tenure of 3 MD & CEOs and 10 executive directors of public sector banks.
  31. Sathiyan Gnanasekaran has won the men’s event at the 2021 ITTF Czech International Open.
  32. Former England captain Ted Dexter has passed away.
  33. Padma Shri awardee agriculture scientist BV Nimbkar passed away.
  34. Former Union Minister, Shri K J Alphons has presented his book ‘Accelerating India: 7 Years of Modi Government’ to the Prime Minister, Shri Narendra Modi.
  35. Renowned tabla artiste Pt Subhankar Banerjee has died of Covid-19.

Table of Content

National News

  1. Indian Institute of Management-Ahmedabad (IIM-A) has launched a Centre for Digital Transformation, in collaboration with Bank of America.
      • The centre aims to become a knowledge hub for academia, policymaking, and the private sector by facilitating research on digital transformation and innovation.
      • The centre has also set up an advisory council on responsible digital transformation to help develop best practices and guidelines.
  2. Ministry of Electronics and Information Technology (MeitY) has launched the Amrit Mahotsav App Innovation Challenge 2021 to identify the best Indian Apps, which have the potential to scale and become world class Apps in their respective categories.
      • This Innovation Challenge is in continuation of the AatmaNirbhar App Innovation Challenge, organised in 2020, that helped identify 24 Winning Apps and 20 Promising Apps.
      • Apps across 16 categories will be accepted under this challenge.
      • Prizes:
For Categories Total Categories
First - Rs 25 Lakhs 16
Second - Rs 15 Lakhs 16
Third - Rs 10 Lakhs 16
  1. India–ISA Energy Transition Dialogue 2021 being organized by the International Solar Alliance and Ministry of New and Renewable Energy.
      • According to the Power Minister RK Singh, India has already achieved emission reduction of 28% over 2005 levels, against the target of 35% by 2030 committed in its NDC (Nationally determined contributions).
      • As per Singh, 80-85% of India’s overall power capacity will come from renewables by 2050.
      • Around 38.5% of India’s installed power generation capacity is based on clean renewable energy sources (including hydropower sources).
  2. US Trade and Development Agency (USTDA) and US-India Strategic Partnership Forum (USISPF) have launched the US-India Climate Technologies Action Group (CTAG).
      • The CTAG aims to bring together major private and public sector stakeholders from both the countries on concrete initiatives that can contribute to advanced global action on climate.
      • The launch event of this CTAG was held between leaders from India and the United States who engaged in a high-level dialogue on the “Accelerating the Adoption of Climate Technology in India.”
  3. News Broadcasters Association (NBA) has decided to change its name to the News Broadcasters and Digital Association (NBDA) to bring within its purview digital media news broadcasters.
      • Ministry of Information and Broadcasting has officially recognised the News Broadcasters Federation’s (NBF) self-regulatory body – Professional News Broadcasters Standards Authority (PNBSA).
      • The PNBSA has formally been registered as a self-regulatory body under the new amendments in the Cable Television Network (Amendment) Rules, 2021.
  4. India plans to force refineries and fertiliser plants to use some green hydrogen.
      • India’s draft hydrogen policy will mandate a gradual increase in the use of green hydrogen instead of fossil fuels in refineries and fertiliser plants.
  5. Niti Aayog and the Cisco (US-based tech giant) has launched the next phase of the Women Entrepreneurship Platform (WEP), which is titled as ‘WEP Nxt’.
      • WEP, initially launched by the Niti Aayog in 2017, is a unified portal that brings together women from diverse backgrounds and help them in becoming entrepreneurs.
      • This next phase will leverage Cisco’s technology and experience working with India’s start-up ecosystem to enable more women-owned businesses across the country.
  6. Ministry of Textile and National Institute of Fashion Technology (NIFT) have launched an India size survey named as INDIAsize to remove with the confusion of size.
      • The survey will create an anthropometric database of measurements for Indians.
  7. Ministry of Education has launched MANTHAN-2021, which has been organized by Bureau of Police Research and Development (BPR&D) in coordination with the Innovation Cell of the Ministry and All India Council for Technical Education (AICTE).
      • Hackathon “MANTHAN 2021” is a unique national initiative to identify innovative concepts and technology solutions for addressing the security challenges of the 21st century faced by our intelligence agencies.
      • MANTHAN 2021 will have two phases.
      • Total Prize money worth Rs. 40 Lakh is announced for the winning teams.

State News

  1. Madhya Pradesh has become the second state to implement the new education policy.
      • Karnataka has become the first state to implement the new education policy.

Defence News

  1. 5th edition of Indo-Kazakhstan joint army training exercise, “Kazind-21” will be conducted at the training node in Aisha Bibi, Kazakhstan, from August 30 to September 11.
      • The exercise will provide an opportunity for the Armed Forces of India and Kazakhstan to train for counter-terrorism operations in a mountainous, rural scenario under a UN mandate.
  2. 25th edition of the Malabar exercise took place off the coast of Guam in the Philippine Sea.
      • Participants – Australia, Japan, India, and the United States
      • This year’s exercise was hosted by the U.S. Navy and was held in two phases.
      • The Malabar exercise started in 1992 as a bilateral drill between the Indian Navy and the U.S. Navy in the Indian Ocean. Japan became a permanent member of the exercise in 2015. In 2020, Australia also participated in the exercise.

Memorandum of Understanding

  1. MeitY Startup Hub, an initiative of the Ministry of Electronics and Information Technology (MeitY), has signed an MoU with Paytm to support deep-tech startups.
      • Both organizations will facilitate access to platforms, knowledge series, experts, resources, and larger community of stakeholders.
      • The collaboration also focuses on fostering partnerships with incubators, accelerators, investors.
      • The collaboration will offer a startup toolkit to tackle challenges in payments, distribution, and growth for early-stage startups.
  2. Ministry of Civil Aviation has signed an MoU with the Adani Group to provide services at three airports in Jaipur, Guwahati and Thiruvananthapuram.
      • Under the agreement, the company will be responsible for supplying customs; immigration; security; plant; and animal quarantine services, as well as health and meteorological services at the three airports.
      • Adani Group has also signed an MoU with Airports Authority of India (AAI) for providing communication navigation surveillance-air traffic management (CNS-ATM) services at these three airports.
      • Adani Group is currently operating six airports – Thiruvananthapuram, Ahmedabad, Lucknow, Mangalore, Jaipur, and Guwahati.

International News

  1. SARS-CoV-2 NGS (Next Generation Sequencing)-BRICS consortium is an interdisciplinary collaboration to advance COVID-19 health-relevant knowledge.
      • Experts from BRICS are members of this consortium.
      • It will accelerate translation of genomic data from clinical and surveillance samples.
      • BRICS countries are working on a programme to study the impact of severe COVID-19 conditions on tuberculosis (TB) patients.
      • National Institute of Biomedical Genomics, Centre for DNA Fingerprinting and Diagnostics, Indian Institute of Science are members of this consortium from India.
  2. National Security Adviser (NSA) Ajit Doval hosted the inaugural meeting of the National Security Advisers of the India-Brazil-South Africa Trilateral Cooperative Forum (IBSA).
      • Discussions were held on maritime security, fight against terrorism and transnational organised crime, and cyber security.
      • IBSAMAR is the maritime exercise between India, Brazil, and South Africa.
      • India has invited Brazil and South Africa to take part in the ‘2022 MILAN’ naval exercise.
      • All countries accepted India’s offer to host a meeting of the Cyber Security Experts Group.
      • India will host 6th IBSA Summit virtually on September 5 on the theme of “Democracy for Demography and Development”.
  3. Union Minister for Finance & Corporate Affairs Nirmala Sitharaman virtually chaired the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) with Reserve Bank Governor Shaktikanta Das under Indian BRICS Chairship.
      • During the meeting, a “Technical Report on Social Infrastructure: Financing and Use of Digital Technologies” was also endorsed.
      • This report provides ways for collaborative knowledge sharing between BRICS economies on social infrastructure.

Banking & Economy

  1. Central Board of Direct Taxes (CBDT) has notified the Income Tax (25th Amendment) Rules, 2021.
      • Union Budget 2021-22 makes the interest earned on the contribution made above Rs 2.5 lakh per annum in a provident fund account by a non-government employee, and contribution above Rs 5 lakh per annum by a govt employee taxable.
      • The Income Tax (25th Amendment) Rules, 2021 clarify that separate accounts will be made for calculating taxable interest of the individuals.
      • Contributions made by individuals by March 31, 2021 will remain non-taxable. However, contributions made in 2021-22 and subsequent years will be taxable.
      • The rules will come into effect by April 1, 2022.
  2. RBI has imposed a penalty of Rs 15 lakh on the Baghat Urban Co-operative Bank Limited, Solan, Himachal Pradesh for violation of certain norms, including, those related to NPA classification.
  3. India has extended USD 1 million aid to the United Nations World Food Programme (WFP) in Zimbabwe to help affected populations tackle climate shocks.
  4. LoanTap, in partnership with SBM Bank, has launched its first LIMITLESS credit line backed prepaid card, which is powered by Rupay.
      • The card offers a buy now pay later facility and allows customers to convert their outstanding into easy EMIs.
      • Maximum limit of this card is Rs 3 lakhs.
  5. Ujjivan Small Finance Bank and Decimal Technologies (fintech company) have partnered to allow Ujjivan to use Decimal’s digital lending platform, Saarathi.
      • This will allow Ujjivan Small Finance Bank to digitise its lending process and strengthen its digital infrastructure.
  6. Google has partnered with Setu (fintech company) to allow its users to open fixed deposits (FDs) through Google Pay.
      • Initially, the FDs of Equitas Small Finance Bank will be offered for a period of one year carrying a maximum interest rate of 6.35%.
      • Google, in partnership with comic book publisher Amar Chitra Katha, has launched a kids safety program called ‘Be Internet Awesome’ to inculcate safe internet practices in children.
      • The lessons will be available in eight Indian languages.
  7. Karnataka Bank has launched “KBL FASTag”, in partnership with NPCI and M/s Worldline (the FASTag processor), to facilitate seamless movement of vehicles at the toll plazas across India.
  8. Moody’s Investors Service has increased the asset risks for Indian banks.
      • Moody’s baseline expectation is that newly formed non-performing loans (NPLs) at public sector banks will increase nearly 50% to about 1.5% of gross loans annually in the next two years.
  9. HDFC Bank became the first Indian lender to list its $1 billion foreign currency additional tier-I (AI-1) bonds, on the International Financial Services Centre (IFSC) of the Gujarat International Finance Tec-City (GIFT).
  10. NTPC Ltd has recruited its first all-female Engineering Executive Trainees (EETs) batch on the occasion of Women Equality Day (August 26).

Appointments

  1. RBI has promoted three Grade F officers – Ajay Kumar, A.K. Choudhary and Deepak Kumar – to the post of executive directors (EDs)
  2. Pawandeep Rajan (winner of Indian Idol) has been appointed as the brand ambassador of Uttarakhand for tourism, culture and arts.
  3. Appointments Committee of the Cabinet has approved the extension of the tenure of 3 MD & CEOs and 10 executive directors of public sector banks.
      • MD and CEO –
        • MD and CEO of Punjab National Bank – S S Mallikarjuna Rao
        • MD and CEO of UCO Bank – Atul Kumar Goel
        • MD and CEO of Bank of Maharashtra – A S Rajeev

Sports

  1. Sathiyan Gnanasekaran has won the men’s event at the 2021 ITTF Czech International Open.
      • Yang Xiaoxin won the women’s event.
Sathiyan Gnanasekaran Won 2021 ITTF Czech

Miscellaneous

  1. Former England captain Ted Dexter has passed away.
  2. Padma Shri awardee agriculture scientist BV Nimbkar passed away.
  3. Former Union Minister, Shri K J Alphons has presented his book ‘Accelerating India: 7 Years of Modi Government’ to the Prime Minister, Shri Narendra Modi.
  4. Renowned tabla artiste Pt Subhankar Banerjee has died of Covid-19.

Start Quiz of 27th August 2021

Q.1) Which edition of the Kazind exercise took place in 2021?
Q.2) Which of the following countries has re-joined the Malabar exercise, after dropping out of it in 2007?
Q.3) Which IIM has launched a Centre for Digital Transformation, in collaboration with Bank of America?
Q.4) How many categories of apps will be accepted in the Amrit Mahotsav App Innovation Challenge 2021?
Q.5) How much prize has been set for the winners of the MANTHAN-2021 hackathon of the Ministry of Education?
Q.6) With which organization has MeitY Startup Hub partnered for supporting the deep-tech startups in India?
Q.7) Who chaired the inaugural meeting of the National Security Advisers of the IBSA Trilateral Cooperative Forum?
Q.8) When is the Women Equality Day observed?
Q.9) Who has won the men’s event at the 2021 ITTF Czech International Open?
Q.10) With which organization has NITI Aayog partnered for its 'WEP Nxt' initiative?
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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