Latest Current Affairs Daily Update

15 Oct 2021: Daily Current Affairs in English

Important Days

International E-Waste Day: 14 October

The International E-Waste Day (IEWD) is celebrated on 14 October every year since 2018, to promote the correct disposal of e-waste throughout the world with the aim to increase re-use, recovery, and recycling rates. 2021 is the fourth edition of the International E-Waste Day.

This year’s International E-Waste Day will focus on the crucial part each of us has in making circularity a reality for e-products.

The theme for 2021 IEWD is “Consumer is the key to Circular Economy!”. The day was developed in 2018 by the WEEE Forum, an international association of e-waste collection schemes, with the support of its members.

World Standards Day observed on 14th October

World Standards Day or International Standards Day is observed globally on 14 October every year.

The day aims to raise awareness about the importance of standardization to the global economy among consumers, regulators, and industry.

World Standards Day 2021 theme is “Standards for sustainable development goals – a shared vision for a better world”.

The date was chosen to mark the first gathering of delegates in 1956 from 25 countries in London who decided to create an international organization for facilitating standardization.

Useful notes for all competitive exams:

  • International Organization for Standardization Headquarters: Geneva, Switzerland
  • International Organization for StandardizationFounded: 23 February 1947, London, United Kingdom.
  • International Organization for Standardization President: Ulrika Francke.

National

PM Modi inaugurates Rs 100 lakh crore PM Gati Shakti-National Master Plan

With the vision of holistic and integrated infrastructure development in the country, Prime Minister Narendra Modi inaugurated PM Gati Shakti-National Master Plan, from Pragati Maidan in New Delhi.

The Rs 100 lakh crore PM Gati Shakti-National Master Plan aims to provide multi-modal connectivity to economic zones in the country.

A centralized portal will be set up to bring together the infrastructure schemes (which are to be completed by 2024-25) of as many as 16 Ministries & State Governments on a common platform, for integrated planning and coordinated implementation, instead of planning & designing separately by each ministry and department.

Through the PM Gati Shakti campaign, the government aims to lend more speed (Gati) and power (Shakti) to infrastructure connectivity projects by connecting all concerned departments on one platform.

India’s first Atal Community Innovation Center launched in Jaipur

India’s 1st Atal Community Innovation Center (ACIC) was inaugurated at Vivekananda Global University, Jaipur (VGU). It will be the first center in the country to be set up by the Government of India, Atal Innovation Mission (AIM), and NITI Aayog.

ACIC aims to support and nurture innovative ideas that can take the shape of big ideas and help transform society for a better tomorrow.

This center, started under the joint aegis of Atal Innovation Mission, NITI Aayog, and VGU, will benefit the hardworking, passionate, and courageous businessmen of Rajasthan who want to take their business towards heights.

Appointments

Fire-Boltt ropes in Virat Kohli as new brand ambassador

Indian wearable brand Fire-Boltt has named cricket captain Virat Kohli as its new brand ambassador. The skipper will participate in different marketing, ad, and endorsement campaigns of the homegrown brand.

Fire-Boltt had a few months earlier brought on board actor Vicky Kaushal as its first brand ambassador.

Fire-Boltt is a wearable, gaming, and audio brand offering a bouquet of premium quality audio, fitness, and fashion products. The products by Fire-Boltt include smartwatches, Bluetooth earphones, Bluetooth headphones, true wireless earbuds, Bluetooth speakers, soundbars, lifestyle shoes, among others.

OYO appoints Paralympian Deepa Malik as an independent director

Hospitality firm Oravel Stays Ltd (OYO) has appointed Deepa Malik, an Indian athlete and a silver-medalist at the 2016 Paralympic Games, as an independent director on the company’s board of directors.

Malik’s experience and her passion for travel and adventure would be invaluable for OYO for years to come. Malik joins the board of OYO that has three other independent directors and one nominee director, besides Ritesh Agarwal being the chairman.

Sajjan Jindal appointed chairman of World Steel Association

World Steel Association (WSA) has elected Sajjan Jindal, Chairman and Managing Director of JSW Steel Ltd, as Chairman for the year 2021-22.

Jindal is the first representative from India to serve as Chairman of the WSA.  JSW Steel is the flagship business of the diversified $13 billion JSW Group and is engaged in the manufacturing of iron and steel products in India and across the globe.

Useful notes for all competitive exams:

  • World Steel Association established: 1967;
  • World Steel Association headquartered: Brussels, Belgium.

Banking

IndusInd Bank gets authorized by RBI to collect Direct and Indirect Taxes

IndusInd Bank has announced, that it has been authorized by the Reserve Bank of India (RBI) for the collection of Direct and Indirect Taxes, on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).

With this, its customers will be able to pay their Direct and Indirect taxes through ‘Indusnet’ and ‘Indusmobile’ platforms.

The authorization has been awarded basis a recommendation from the Controller General of Accounts as well as the Ministry of Finance (Govt. of India), and comes close on the heels of the Bank being appointed as an ‘Agency Bank’ of the RBI to conduct government business.

Useful notes for all competitive exams:

  • The IndusInd Bank CEO: Sumant Kathpalia;
  • The IndusInd Bank Headquarters: Pune;
  • The IndusInd Bank Owner: Hinduja Group;
  • The IndusInd Bank Founder: S. P. Hinduja;
  • The IndusInd Bank Founded: April 1994, Mumbai.

Kotak Mahindra Bank launches Micro ATMs across India

The private lender Kotak Mahindra Bank Ltd has announced the launch of Micro ATMs across the country. Customers of all banks who possess a debit card can use a Kotak Micro ATM for key banking services such as cash withdrawals and checking account balances.

A mini version of an ATM, micro ATMs is small handheld devices. The bank will use its extensive Business Correspondents (BC) network to launch micro ATMs.

Useful notes for all competitive exams:

  • Kotak Mahindra Bank Establishment: 2003;
  • Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
  • Kotak Mahindra Bank MD & CEO: Uday Kotak.

Business

Centre accords “Maharatna” status to state-owned PFC Ltd

The Government of India has accorded ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC). The new status will give PFC greater operational and financial autonomy.

PFC was incorporated in 1986, as an Indian financial institution under the ownership of the Ministry of Power. It is the largest Infrastructure Finance Company in India, exclusively dedicated to Power Sector.

Useful notes for all competitive exams:

  • Power Finance Corporation Ltd Headquarters: New Delhi;
  • Power Finance Corporation Ltd Founded: 16 July 1986;
  • Power Finance Corporation Ltd Chairman & MD: Ravinder Singh Dhillon.

ADB Raises 2019–2030 Climate Financing Goal to $100 Billion

The Asian Development Bank (ADB) has announced an increase in its climate financing goals 2019-2030 for developing member countries (DMCs) by $20 billion to $100 billion.

Earlier in 2018, ADB had announced an $80 billion goal for climate financing for developing countries in Asia during 2019-2030. The additional $20 billion in financing support will be used for climate mitigation efforts including low-carbon energy sources, climate adaptation projects, and private sector projects.

Useful notes for all competitive exams:

  • President of ADB: Masatsugu Asakawa; Headquarters: Manila, Philippines.

Economy

IMF Projects Indian Economy to grow at 9.5% in FY22

The International Monetary Fund (IMF) has estimated the Indian economy to grow by 9.5% in the current fiscal year, i.e 2021-22 (FY22) and 8.5% in FY23 (2022-23), in its latest World Economic Outlook report, released on October 12, 2021.

Meanwhile, IMF expects the global gross domestic product (GDP) to grow by 5.9 percent in 2021 and 4.9% in 2022.

In its World Economic Outlook (WEO), the IMF has maintained India’s gross domestic product (GDP) estimates for the next financial year at 8.5 percent, unchanged from its July projections.

The WEO, titled ‘Recovery During a Pandemic Health Concerns, Supply Disruptions, and Price Pressures’, has forecast world economic growth at 4.9 percent for 2022, the same as earlier.

Useful notes for all competitive exams:

  • IMF Headquarters: Washington, D.C. U.S;
  • IMF Managing Director and Chairman: Kristalina Georgieva;
  • IMF Chief Economist: Gita Gopinath.

Ranks and Reports

India Ranks Third in 2021 EY Index

India has retained the third position in the 58th Renewable Energy Country Attractiveness Index (RECAI) released by the consultancy firm Ernst & Young (EY).

According to the report, the US, mainland China, and India continue to retain the top three rankings and Indonesia is a new entrant to the RECAI.

A new power purchase agreement PPA Index – introduced in this edition of RECAI – focuses on the attractiveness of renewable power procurement and ranks the growth potential of a nation’s corporate PPA market. India is ranked sixth among the top 30 PPA markets.

Sports

Ireland’s Amy Hunter becomes the youngest batter to hit ODI hundred

Ireland’s Amy Hunter hit 121 not out on her 16th birthday against Zimbabwe, making her the youngest batter to score an ODI century in either men’s or women’s cricket.

The Belfast batter – who was playing in only her fourth ODI – broke the record previously held by India’s Mithali Raj, scorer of a century against Ireland in 1999 when she was 16 years 205 days.

Obituary

IFFCO chairman Sardar Balvinder Singh Nakai passes away

Fertiliser major IFFCO’s Chairman Balvinder Singh Nakai has passed away.

He was an eminent farmer – cooperator and was deeply involved in providing strength to the Indian cooperative movement for the last three decades. He made pioneering contributions towards empowering farmers.

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