daily current affairs- 7 october 2021

Daily Current Affairs- 7th October 2021

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Headlines

1) Cabinet approves Productivity Linked Bonus to railway employees for the financial year

2020-21

2) Panchayati Raj Minister Giriraj Singh Launched PPC 2021 & Gram Sabha Dashboard

3) Government has approved setting up of 7 Mega Integrated Textile Region and Apparel

Parks with a total outlay of Rs. 4,445 crore in a period of 5 years

4) Electricity (Transmission System Planning, Development and Recovery of Inter-State

Transmission Charges) Rules 2021 promulgated

5) Assam Launched ‘Mission Basundhara’ for Streaming Land Records

6) The Coal Ministry has constituted a panel to review and benchmark the timelines in

project execution

7) Maharashtra signs deal with Causis E-Mobility for EV unit

8) Indo-French Chamber of Commerce and Industry signed a MOU with the Maharashtra

Industrial Development Corporation

9) India hosted Global FinTech Festival 2021 The World’s largest virtual fintech festival

10) High Commissioner of Bangladesh honours 1971 War Veterans onboard BNS Somudra

Avijan at Visakhapatnam

11) World Bank Approved US$150 Million for Tamil Nadu & US$40 Million for Meghalaya

12) RBI Granted licence to NARCL

13) RBI Permitted Emirates NBD Bank to Open Branches in India

14) SBI and Indian Navy Launched NAV- eCash Card

15) World Bank’s arm IFC appoints Wendy Werner as India Country Head

16) CoinDCX appointed Mr.Amitabh Bachchan as its first Brand Ambassador

17) FC Goa wins maiden Durand Cup 2021







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18) Book- Economist Gandhi: The Roots and the Relevance of the Political Economy of the

Mahatma

19) World Space Week 2021 – 4th to 10th October

20) Wildlife Week is annually observed from October 2nd to October 8th







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National News

Cabinet approves Productivity Linked Bonus to railway employees

for the financial year 2020-21

• The Union Cabinet, chaired by the Prime

Minister Shri Narendra Modi, today

approved the Productivity Linked Bonus

(PLB) equivalent to 78 days' wages for the

financial year 2020-21 for all eligible non-

gazetted Railway employees

• The financial implication of payment of 78

days' PLB to railway employees has been

estimated to be Rs.1984.73 crore. The wage

calculation ceiling prescribed for payment of

PLB to the eligible non-gazetted railway employees is Rs.7000/- p.m. The maximum amount payable per

eligible railway employee is Rs. 17,951 for 78 days.

Railway in Recent News

• Union Minister Ashwini Vaishnaw, Ministry of Railways launched Rail Kaushal Vikas Yojana under the

aegis of Pradhan Mantri Kaushal Vikas Yojana

• Indian Railway Catering and Tourism Corporation started India’s first indigenous luxury cruise liner. IRCTC

has partnered with Cordelia Cruises, operated by Waterways Leisure Tourism Private Limited

• Indo-Nepal rail connectivity: Indian Railways completes trial of 110kmph between Jayanagar-Kurtha

• North Eastern Railways has renamed the Manduadih Railway Station in Varanasi, Uttar Pradesh as

Banaras Railway Station

Panchayati Raj Minister Giriraj Singh Launched PPC 2021 & Gram

Sabha Dashboard

• Union Minister for Panchayati Raj and Rural

Development Giriraj Singh launched the People’s Plan

Campaign (PPC) 2021- Sabki Yojana Sabka Vikas and

Vibrant Gram Sabha Dashboard.

• He released a booklet on PPC 2021 for the







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preparation of plans for FY23 and the 10th issue of Gramoday Sankalp Magazine.

• It is a strategy for ensuring the preparation of GPDP (Gram Panchayat Development Plan) in a campaign

mode.

• PPC 2021 meetings rolled out from October 2, 2021, to January 31, 2022.

• The meetings include physical presence and presentation by frontline workers/supervisors on 29 sectors

including Agriculture, Minor Irrigation, Animal husbandry, Fisheries, Social Forestry, etc.

• The department of Housing and Urban Development and the Panchayati Raj and Drinking Water under

the government of Odisha, signed a Letter of Understanding with UNICEF (United Nations International

Children’s Emergency Fund) and Centre for Policy for urban-rural convergence on Faecal Sludge and

Septage Management and Plastic Waste Management to provide sanitation facilities in villages around

urban areas of the state.

• Giriraj Singh, Union Minister for Panchayati Raj and Rural Development launched a dashboard–

“SVAMITVA (Survey of Villages Abadi & Mapping with Improvised Technology in Village Areas Scheme): A

Stepping-Stone Towards Upliftment of Rural Economy”

• An orientation training programme on Azadi Ka Amrit Mahotsav (India@75) was organised by the

Ministry of Panchayati Raj for all 225 beacon Panchayats identified for Azadi Ka Amrit Mahotsav.

Government has approved setting up of 7 Mega Integrated

Textile Region and Apparel Parks with a total outlay of Rs.

4,445 crore in a period of 5 years

• Government has approved the setting up of 7 PM

MITRA (पीएम ममत्र) parks as announced in Union

Budget for 2021-22.

• PM MITRA (पीएम ममत्र) is inspired by the 5F vision .

The '5F' Formula encompasses - Farm to fibre; fibre to

factory; factory to fashion; fashion to foreign. This

integrated vision will help furthering the growth of

textile sector in the economy. No other competing

nation has a complete textile ecosystem like us. India is strong in all five Fs.

• The 7 Mega Integrated Textile Region and Apparel Parks (PM MITRA) (पीएम ममत्र) will be setup at







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Greenfield / Brownfield sites located in different willing States.

• Maximum Development Capital Support of ₹ 500 crore to all Greenfield PM MITRA and a maximum of ₹

200 Crore to Brownfield PM MITRA (पीएम ममत्र) will be provided for development of Common

Infrastructure (@30% of the Project Cost) and ₹ 300 Crore of Competitiveness Incentive Support (CIS) &

will be paid upto 3% of turnover of a newly established unit in PM MITRA (पीएम ममत्र) Park, will also be

provided to each PM MITRA (पीएम ममत्र) park for early establishment of textiles manufacturing units in

PM MITRA (पीएम ममत्र). State Government supports will include provision of 1,000 Acre land for

development of a world class industrial estate.

Electricity (Transmission System Planning, Development and Recovery of

Inter-State Transmission Charges) Rules 2021 promulgated

• The Union Ministry of Power has promulgated

the Electricity (Transmission System Planning,

Development and Recovery of Inter-State

Transmission Charges) Rules 2021.

• At present, generating companies apply for

long-term access (LTA) based on their supply

tie-ups, while medium-term and short-term

transmission access is acquired within the

available margins.

• The rules underpin a system of transmission access which is termed as a General Network Access in the

inter-state transmission system. This provides flexibility to the States as well as the generating stations to

acquire, hold and transfer transmission capacity as per their requirements.

• The rules prescribe that excess drawal or injection over the GNA capacity sanctioned will be charged at

rates which are at least 25% higher. This will ensure that the entities do not under-declare their GNA

capacity.







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Assam Launched ‘Mission Basundhara’ for Streaming Land Records

• Assam launched ‘Mission Basundhara’ to resolve the state’s land record by enabling the state’s people to resolve their land-related issues easily through an online system.

• The state government has planned to spend around Rs.225 crore for the implementation of the mission.

• The mission would also enable the state to make total digitization of maps and integration of maps, land records under the Digital India Land Records

Modernization Programme.

• Lovlina Borgohain named Brand Ambassador of Samagra Shiksha Abhiyan in Assam

• The Small Industries Development Bank of India in association with the Assam Government launched an innovation fund to promote start-ups. Under the Cluster Development Fund an agreement of Rs 350 crore was signed

• Central Government has signed a tripartite Karbi Anglong Agreement under which all conditions of the Karbi people will be fulfilled in a stipulated time.

• Assam has decided to rename the Rajiv Gandhi Orang National Park as the “Orang National Park” to honour the Adivasi and tea tribe communities of Assam. Assam has 7 national parks – Dihing Patkai; Raimona; Kaziranga; Manas; Dibru-Saikhowa; Nameri and Orang National Park.

• The Assam Electronics Development Corporation Limited has appointed iBus Networks as its Exclusive Business Partner for operating and managing digital infrastructure.

• Sojat Mehndi from Rajasthan, known for its medicinal values, traditional brew of Dimasa community, Judima from Assam and Naga Cucumber from Nagaland known for its high potassium content bagged GI tags.

• Assam celebrated Wanchuwa Festival 2021

• Assam, NABARD, AIFA Sign MoU

• Assam Govt Signed MoU Implement AMFIRS 2021

• Kaziranga National Park of Assam became India’s first National park to be equipped with satellite phones,







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• Assam’s Cachar district wins SKOCH Award for nutri-garden project at village

• Assam launched the ‘Chief Minister’s COVID-19 Widows Support Scheme’ to provide social and financial

security to the widows of COVID-19 victims.

The Coal Ministry has constituted a panel to review and benchmark

the timelines in project execution

• The panel will review tendering process by examining tenders having a value of more than Rs 300 crore of Coal India Limited its subsidiaries and other PSUs. Coal India Limited

• Headquarters: Kolkata, West Bengal • Chairman & Managing Director: Pramod Agrawal

MOUs And Partnership

Maharashtra signs deal with Causis E-Mobility for EV unit

• Maharashtra Industrial Development Corporation has signed a deal, worth Rs 2,823 crore, with Causis E-Mobility Pvt Ltd, a joint venture of the United Kingdom based Causis Group to set up zero-emission electric vehicles manufacturing facility at Talegaon, near Pune

• It will also set up a battery Gigafactory in Maharashtra to manufacture and supply batteries for EVs.

• The new policy aims to electrify 10% of all vehicles by 2025.

MIDC:

• CEO-Dr P Anbalagan • Headquarters– Mumbai







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• Maharashtra launched a mobile application ‘Digital Baramati Umbrella App

• The Union Minister for Road Transport, Nitin Gadkari launched ‘ iRaste {Intelligent Solutions for Road

Safety through Technology and Engineering} - a two year pilot project in Nagpur, Maharashtra.

• Ministry of Women and Child Development of Maharashtra has launched “Mission Vatsalya” with an objective to serve around 18 benefits, schemes, services to the women who lost their husband due to Covid-19.

• Mumbai, Maharashtra has secured 18th spot with 157.4 cameras per sq miles in Forbes India’s List of World’s Most Surveilled Cities

• Maharashtra has introduced the Rajiv Gandhi Award for excellence in IT, named after former Prime Minister Rajiv Gandhi, to recognise the firms that excel in the Information Technology Sector in Maharashtra.

• Asian Development Bank approved an additional financing of a $300 million loan for the ongoing Maharashtra Rural Connectivity Improvement Project

• In a unique initiative Ministry of Tribal Affairs in partnership with The Art of Living Foundation, Aurangabad, Maharashtra launched Vrushka Bandhan Project where 1100 tribal women are creating Rakhis for Raksha Bandhan with seeds of indigenous trees

• Maharashtra launched the e-crop survey initiative across the state

• Radio Vishwas, a Community Radio Station (CRS) in Nashik, Maharashtra has bagged two awards at the 8th edition of the National Community Radio Awards instituted by Ministry of Information and Broadcasting.

• Bank of Maharashtra signed a Memorandum of Understanding with ‘National Bank for Agriculture & Rural Development’ to foster the existing developmental initiatives that are linked to Priority Sector Lending in Maharashtra.

• LegitDoc, a blockchain startup a blockchain start, is helping the Government of Maharashtra implement the world's largest blockchain-powered educational credentialing system by issuing nearly 1 million tamper-proof diploma certificates.







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Indo-French Chamber of Commerce and Industry signed a MOU with the Maharashtra Industrial Development Corporation

• The Indo-French Chamber of Commerce and

Industry signed a memorandum of understanding with the Maharashtra Industrial Development Corporation to facilitation investments from France into Maharashtra.

• IFCCI re-elected Sumeet Anand, Founder of IndSight Growth Partners as President for the second term

Conferences And Meetings

India hosted Global FinTech Festival 2021 The World’s largest virtual fintech festival

• India hosted the 2nd edition of Global FinTech

Festival 2021, the World’s largest virtual fintech festival.

• Theme: ‘FinTech: Empowering a Global Digital Economy’.

• GFF 2021 is organised by National Payments Corporation of India and Fintech Convergence Council and Internet and Mobile Association of India along with Payments Council of India

• The festival is supported by NITI Aayog, Startup India and Invest India. The World Bank and United Nations Capital Development Fund are the institutional partners of the summit.

• Over 115 countries have participated at the Summit.

• NPCI has partnered with YES BANK and launched first-of-its-kind ‘RuPay On-the- Go’ contactless payments solutions, in association with fintech infrastructure partner-Neokred and manufacturing







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partner- Seshaasai.

• RuPay On-the-Go will enable the users to pay up to Rs 5000 without the need to input the PINs through RuPay contactless-enabled PoS from the accessories they wear.

• Nirmala Sitharaman released the ‘UN Report on Responsible Digital Payments’ National Payments Corporation of India:

• MD & CEO – Dilip Asbe • Headquarters – Mumbai

Awards And Recognition

High Commissioner of Bangladesh honours 1971 War Veterans onboard BNS Somudra Avijan at Visakhapatnam

• As part of Birth Centenary celebrations of the

Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, His Excellency Mr Muhammad Imran, High Commissioner of Bangladesh honoured 10 Indian Naval War Veterans from across the country acknowledging their contribution in the liberation of Bangladesh in 1971 at a function hosted onboard BNS Somudra Avijan at Visakhapatnam

Bangladesh in Recent News

• Bangladesh PM Sheikh Hasina won SDG Progress Award

• Trade agreement signed by the Tripura State Electricity Corporation Limited and Bangladesh Power

Development Board

• MoU signed between ICCR & Delhi University to set up Bangabandhu Chair







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Funds Sanctioned

World Bank Approved US$150 Million for Tamil Nadu & US$40 Million for Meghalaya

• The World Bank has approved a US$ 150 million

program titled ‘Chennai City Partnership: Sustainable Urban Services Program’ to support Tamil Nadu

• WB also approved a US$ 40 million project titled ‘Meghalaya Health Systems Strengthening Project’ to improve the quality of health services in Meghalaya

World Bank:

• President – David Malpass • Headquarters – Washington D.C.

⮚ Recently World Bank discontinues “Ease of Doing Business” report

Banking And Financial News

RBI Granted licence to NARCL

• Reserve Bank of India gave a licence to the Rs

6,000 crore National Asset Reconstruction Company Ltd to start operations as the bad bank.

• The licence was granted under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.

About NARCL:

• The National Asset Reconstruction Company (NARCL) is a legal entity now and has been registered with

the Registrar of Companies (RoC) Mumbai. According to data available with the Ministry of Corporate Affairs (MCA), NARCL was incorporated on July 7 with an authorised capital of Rs 100 crore and paid-up







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capital of Rs 74.6 crore.

• Lenders have identified 22 stressed accounts worth around Rs 89,000 crore that are expected to be transferred to the new entity in the first phase. Over time, a much larger exposure of an estimated Rs 2 lakh crore is expected to be transferred to the NARCL.

• NARCL will house bad loan accounts of INR 500 crore or more.

• It will pay up to 15% of the agreed value for the loans in cash and the remaining 85% would be Government- guaranteed security receipts.

• RBI stated that loans which have been classified as Fraud cannot be sold to NARCL. The annual report of RBI states that about INR 1.9 lakh crore of loans have been classified as fraud as on March 2020.

• Canara Bank would be the sponsor of NARCL and will hold a 12% equity, other large public sector banks will hold less than 10% each in NARCL.

• Padmakumar Madhavan Nair, a stressed assets expert from SBI will serve as the Managing Director of NARCL.Other Directors are IBA’s Chief Executive Sunil Mehta, Deputy Managing Director of SBI Salee Sukumaran Nair & Canara Bank’s representative Ajit Krishnan Nair.

RBI Permitted Emirates NBD Bank to Open Branches in India

• RBI has granted permission to Emirates NBD Bank,

Dubai, the government-owned bank of UAE to open two more branches in India Emirates NBD Bank:

• Vice Chairman and Managing Director – Hesham Abdulla Qassim Al Qassim.

• Headquarters (Global) – Dubai • Headquarters (India) – Mumbai

SBI and Indian Navy Launched NAV- eCash Card

• Indian Navy and State Bank of India launched

SBI’s NAV-eCash Card onboard India’s largest Naval Aircraft Carrier INS Vikramaditya.

• The NAV-eCash card has dual-chip technology







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that will facilitate both online and offline transactions. State Bank of India

• Chairman – Dinesh Kumar Khara • Headquarters – Mumbai, Maharashtra

Appointments And Resignations

World Bank’s arm IFC appoints Wendy Werner as India Country Head

• The International Finance Corporation has

appointed Wendy Werner as the new

Country Head for India.

• She will succeed Jun Zhang, who retired

recently

• Managing Director- Makhtar Diop

• Headquarters- Washington DC

Brand Ambassador

CoinDCX appointed Mr.Amitabh Bachchan as its first Brand Ambassador

• India’s first crypto unicorn CoinDCX appointed Mr.Amitabh Bachchan as its first Brand Ambassador to increase crypto awareness

• CoinDCX also recently launched an awareness campaign and ‘Happy Day Rewards’ campaign. CoinDCX

• Chief Executive Officer and co-founder of







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CoinDCX – Sumit Gupta • Headquarter – Mumbai

• Recently , CoinDCX has become the first Indian cryptocurrency exchange to grab the title of ‘unicorn’ with

valuation to $1.1 billion (Rs 8,150 crore). Unicorns are startups with a valuation of $1 billion or more.

Sports

FC Goa wins maiden Durand

Cup 2021

• Indian Super League side FC Goa win their

maiden Durand Cup Football Tournament

title after win over Mohammedan Sporting

Club in the final at the Vivekananda Yuba

Bharati Krirangan in Kolkata.

Books And Authors

Book- Economist Gandhi: The Roots and the Relevance of the Political Economy of the Mahatma

• The book titled Economist Gandhi: The

Roots and the Relevance of the Political Economy of the Mahatma authored by retired entrepreneur Jerry Rao (Jaithirth Rao) provide insights into a hidden facet of Gandhi’s personality his thoughts on economics and capitalism.







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Important Days

World Space Week 2021 – 4th to 10th October

• The United Nations World Space Week is

annually observed across the globe from

4th to 10th October to commemorate

contributions and achievements made in

the field of space science and technology.

• The theme of World Space Week 2021 is

“Women in Space”

• The 4th October marks the date on which

the first Human-made Earth Satellite,

Sputnik 1, was launched in 1957.

• 10th October marks the day on which the treaty on Principles Governing the Activities of the States in the

Exploration and Use of Outer Space, including the moon and other celestial bodies came into force in

1967.

Wildlife Week is annually observed from October 2nd to October 8th

• Wildlife Week is annually observed from October 2 to October 8 across the country

• The 2021 Wildlife Week, the 67th edition, is being celebrated with the theme ‘Forests and Livelihoods: Sustaining People and Planet’.

• Wildlife Week celebrations by tiger rallies in 18 tiger range States across 51 reserves with the theme ‘India for Tigers – A Rally on Wheels’.







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daily current affairs- 7 october 2021

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