Friday 22 January 2021
GK Update of thirteenth January 2021 overlaying the next information headlines: Union Budget 2021, Cherry Blossom Festival, Vasantdada Nagari Sahakari Bank, India-Vietnam Defence Security Dialogue.
National News
1. First time in historical past, Union Budget 2021 to be paperless
- Union Budget 2021, slated to be introduced on February 1, goes to be utterly paperless within the wake of the continued coronavirus pandemic.
- This would be the first time since independence that the funds papers is not going to be printed. The Centre has obtained permission for a similar from each homes of parliament.
- The determination has been taken as a number of folks (roughly 100) could be required to remain on the printing press for round a fortnight amid the COVID-19 worry.
- The funds papers are often printed on the ministry’s in-house printing press within the North Block.
- This 12 months’s funds might reportedly witness a number of conventions being damaged as the normal ‘Halwa’ ceremony, which is a given yearly can also be not prone to happen, or a low-key operate could also be held with restricted gathering in attendance.
Important takeaways for all aggressive exams:
- Minister of Finance and Corporate Affairs: Nirmala Sitharaman.
- Minister of State within the Ministry of Finance and Corporate Affairs: Anurag Singh Thakur.
State News
2. Manipur: CM Biren Singh just about inaugurated Cherry Blossom Festival
- The 4th version of the Cherry Blossom Festival, Mao in Manipur was just about inaugurated by Chief Minister N Biren Singh.
- However this 12 months, the authority determined to scale down the competition as a result of COVID-19 pandemic.
- The Festival featured the picturesque panorama of Mao adorned with lovely cherry bushes laden with blooming flowers which have historically attracted guests from the world over.
- Manipur has been celebrating the competition yearly since 2017.
- The competition which featured the picturesque panorama of Mao city adorned with lovely Cherry Blossom flowers was streamed dwell from 2 pm on numerous social media platforms.
- The Mao space of Senapati district in Manipur is thought for Cherry Blossom, a plant which is popularly often known as Sakura in Japan.
Important takeaways for all aggressive exams:
- Chief Minister of Manipur: N. Biren Singh; Governor: Najma Heptulla.
Banking News
3. RBI cancels the licence of Vasantdada Nagari Sahakari Bank
- The Reserve Bank of India (RBI) has cancelled the licence of Maharashtra-based Vasantdada Nagari Sahakari Bank, with speedy impact.
- Vasantdada Nagari Sahakari Bank Ltd will not be allowed to conduct the enterprise of ‘banking’, together with acceptance of deposits and compensation of deposits, with impact from the shut of enterprise on January 11, 2021.
- RBI has requested the Commissioner for Cooperation and Registrar of Cooperative Societies (RCS), Maharashtra to challenge an order for winding up the financial institution and appoint a liquidator for the financial institution.
- The Bank has did not adjust to the necessities of Section 11(1) learn with Section 56 of BR Act and thus could be unable to pay its current depositors in full in its present monetary place.
- With the cancellation of licence and graduation of liquidation proceedings, the method of paying the depositors of Vasantdada Nagari Sahakari Bank Ltd., Osmanabad, Maharashtra as per the DICGC Act, 1961 will probably be set in movement.
- Every depositor is entitled to compensation of his/her deposits as much as Rs 5,00,000 from the DICGC. More than 99% of the depositors of the financial institution will get full compensation of their deposits from DICGC.
Important takeaways for all aggressive exams:
- Deposit Insurance and Credit Guarantee Corporation Establishment: 1978.
- Deposit Insurance and Credit Guarantee CorporationChairman: Michael Debabrata Patra (Deputy Governor, RBI).
- Deposit Insurance and Credit Guarantee Corporation Headquarter: Mumbai, Maharashtra.
- Reserve Bank of India (RBI) Headquarters: Mumbai, Maharashtra.
- Reserve Bank of India Establishment: 1 April 1935.
- Reserve Bank of IndiaGovernor: Shaktikanta Das.
- Reserve Bank of India Deputy Governors: 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao).
4. RBI slaps Rs 2 crore high quality on Deutsche Bank for non-compliance
- The Reserve Bank of India has imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with sure provisions of instructions regarding rate of interest on deposits.
- The central financial institution mentioned the statutory inspection of Deutsche Bank’s monetary place as on March 31, 2019, and the Risk Assessment Report revealed non-compliance with the ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’.
- The motion was based mostly on the deficiencies in regulatory compliance and was not supposed to pronounce upon the validity of any transaction or settlement entered into by the financial institution with its prospects.
Important takeaways for all aggressive exams:
- Deutsche Bank CEO: Christian Sewing.
- Deutsche Bank Headquarters: Frankfurt, Germany.
- Deutsche Bank Founded: 10 March 1870.
Economy News
5. India’s retail inflation drops to 4.59 % in December
- India’s retail inflation fell sharply to 4.59 per cent in December, primarily on account of declining meals costs, authorities information confirmed.
- Retail inflation based mostly on the Consumer Price Index (CPI) was 6.93 per cent in November.
- Food inflation declined to 3.41 per cent in December in 2020, in comparison with 9.5 per cent within the earlier month, in line with the information launched by the Ministry of Statistics and Programme Implementation.
- The Reserve Bank of India (RBI) components in retail inflation whereas arriving at its financial coverage.
Defence News
6. Dr Ajay Kumar co-chairs thirteenth India-Vietnam Defence Security Dialogue
- The thirteenth India-Vietnam Defence Security Dialogue was held in a digital format. The digital occasion was co-chaired by Defence Secretary Dr Ajay Kumar together with Vietnamese Sr Lt Gen Nguyen Chi Vinh, Deputy Defence Minister, Socialist Republic of Vietnam.
- Defence Secretary and the Deputy Defence Minister expressed satisfaction on the ongoing defence cooperation between the 2 international locations despite the restrictions imposed by COVID 19.
- Both international locations exchanged views on the plan of motion from the not too long ago concluded Virtual Summit between Prime Minister Shri Narendra Modi and Prime Minister of the Socialist Republic of Vietnam H.E. Nguyen Xuan Phuc in December 2020.
- Both the perimeters reviewed the progress on numerous bilateral defence cooperation initiatives and expressed dedication to additional elevate engagements between the Armed Forces underneath the framework of the Comprehensive Strategic Partnership.
- Both sides agreed that within the latest previous our respective international locations have made notable strides in Defence Industry and Technology cooperation and look ahead to even higher cooperation on this area.
Important takeaways for all aggressive exams:
- Vietnam Capital: Hanoi.
- Vietnam Currency: Vietnamese dong.
- Vietnam Prime Minister: Nguyen Xuan Phuc.
Agreement News
7. Bharat Biotech inks pact with Precisa Med to provide Covaxin to Brazil
- Bharat Biotech has introduced that it has signed an settlement with Precisa Medicamentos for the availability of its indigenously manufactured Covid-19 vaccine ‘Covaxin’ to Brazil.
- The provides of Covaxin will probably be prioritized for the general public market, via direct procurement by Brazil authorities.
- A workforce from Precisa Medicamentos had visited the Bharat Biotech facility in Genome Valley close to right here final week to debate export of COVAXIN, India’s first indigenous vaccine for Covid-19.
Important takeaways for all aggressive exams:
- Bharat Biotech Founded: 1996.
- Bharat Biotech Headquarters location: Hyderabad.
- Bharat Biotech Executive director: Dr V Krishna Mohan.
Ranks and Reports News
8. India Ranks 85 in Henley Passport Index 2021
- The Henley Passport Index 2021 has been launched by Henley & Partners, based mostly on the unique information from the International Air Transport Association (IATA).
- As per the newest report, India has been ranked eighty fifth amongst 110 international locations, within the Henley Passport Index for 2021, with a visa-free rating of 58.
- The index presents the unique rating of the world’s strongest passports, in line with the variety of locations their holders can entry with out a prior visa.
- Japan has as soon as once more topped the listing of being probably the most highly effective passport on this planet, for the third consecutive 12 months. Japanese residents can journey to as many as 191 international locations visa-free. Singapore is in second place (190) and South Korea ties with Germany in third place (189). Syria, Iraq and Afghanistan are the international locations with the worst passport, with a passport rating of 29, 28 and 26 respectively.
Important takeaways for all aggressive exams:
- International Air Transport Association Headquarters: Montreal, Canada.
- International Air Transport Association Founded: 19 April 1945.
- International Air Transport Association Leader: William M. Walsh.
- Henley & Partners Headquarters location: London, United Kingdom.
- Henley & Partners Founded: 1997.
- Henley & Partners Chairman: Christian Kalin.
- Henley & Partners CEO: Juerg Steffen.
Summits and Conferences News
9. France hosts 4th One Planet Summit
- The Government of France organised the fourth ‘One Planet Summit’, via videoconferencing, which aimed toward defending the world’s biodiversity.
- The Summit was organised in cooperation with the United Nations and the World Bank.
- The theme of the Summit was “Let’s act together for nature!”.
- It was inaugurated by the Secretary-General of the United Nations António Guterres, French President Emmanuel Macron, and President of the World Bank Group David Malpass.
Important takeaways for all aggressive exams:
- France Capital: Paris.
- France President: Emmanuel Macron.
- France Prime minister: Jean Castex
- France Currency: Euro.
Books and Authors News
10. Manipur Guv launched e-book “Making of a General A Himalayan Echo”
- Manipur Governor, Dr Najma Heptulla has just about launched a e-book titled “Making of a General-A Himalayan Echo” authored by (Retd) Lt General Konsam Himalaya Singh at Durbar Hall, Raj Bhavan, Imphal.
- The e-book elegantly summons the essence and imperatives of superior command of probably the most formidable forces on this planet.
- The e-book is the memoir of Lt Gen (Dr) Konsam Himalay Singh who has traced his journey from a small village in Manipur to turning into the primary particular person from North East India to carry the rank of a Three-Star General of the Indian Army. The e-book has additionally highlighted about Manipur, the “Land of Emeralds”.
11. A e-book titled “The Population Myth: Islam, Family Planning and Politics in India” by Ex-CEC
- Former chief election commissioner (CEC) S Y Quraishi has come out together with his e-book titled “The Population Myth: Islam, Family Planning and Politics in India”.
- The e-book will hit the stands on February 15, 2021. It has been revealed by HarperCollins India.
- The e-book evaluates India’s demographics from a non secular perspective and seeks to demolish two primary myths that ‘Islam is against family planning’ and ”Muslim fee of development” is linked to seize political energy.
- The e-book is an in depth evaluation of the ‘Muslim rate of growth’ within the mild of inhabitants information and nationwide and worldwide studies.
- The e-book examines the essential and pressing query of the politicisation of demography in India.
Obituaries News
12. Indian American author Ved Mehta passes away
- Indian American author Ved Mehta handed away. The Indian-American novelist overcame blindness & was broadly often known as the Twentieth-century author most answerable for introducing American readers to India.
- Ved Mehta, a longtime author for The New Yorker whose best-known work, spanning a dozen volumes, explored the huge, turbulent historical past of recent India via the intimate lens of his personal autobiography.
Miscellaneous News
13. First-ever Ice climbing competition celebrated in Nubra valley
- In Leh, the first-ever Ice climbing competition was celebrated in Nubra valley. The Seven Day occasion was organized by Nubra Adventure Club.
- Ice climbing is a well-liked winter sport overseas. To promote winter tourism in Nubra valley, Nubra Adventure Club, with the assistance of Social activist Dr Nordan Otzer, has organized the Seven Day Ice Climbing Festival.
- Trainer Rigzin Tsewang mentioned that Nubra has the potential to be the mountain climbing capital within the Himalayas.
14. Suriname’s Indian-origin President to be Republic Day chief visitor
- President of the Republic of Suriname, Chandrikapersad Santokhi, would be the chief visitor at India’s Republic Day parade on January 26.
- India had initially invited Boris Johnson to be the chief visitor however the British PM needed to cancel his go to in view of the grim coronavirus scenario again house.
- Earlier this week, Santokhi was the chief visitor on the Pravasi Bharatiya Divas Convention, held by the Ministry of External Affairs and he delivered the keynote deal with.
- He was sworn in because the president of Suriname in July 2020, when his occasion, the Progressive Reform Party, gained 20 of the 51 seats within the elections.
Important takeaways for all aggressive exams:
- Suriname Capital: Paramaribo.
- Suriname Currency: Suriname Dollar.
- Suriname Continent: South America.