Daily Current Affairs: April 29, 2021

Daily Current Affairs (April 29, 2021) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK, and Financial Awareness sections. Remember, Banking Awareness, and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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Important Day

International Dance Day- 29 April

• International Dance Day is celebrated on 29 April every year to encourage participation and education in dance.
• International Dance Day was created by the Dance Committee of the International Theatre Institute ITI, the main partner for the performing arts of UNESCO. Since its creation in 1982.
• 2021Theme: “Purpose of dance”

International News

Australia provides 747 million dollars for upgrading four defence bases to boost Indo-Pacific engagements

• Australia will invest 747 million dollars in upgrading four key military training areas and ranges in the Northern Territory to defend the country’s interests and support greater engagement with the Indo-Pacific neighbours and allies.
• Prime Minister Scott Morrison announced amid China’s increasing assertiveness in the region.

Australia

• Capital: Canberra
• Currency: Australian dollar
• Prime Minister: Scott Morrison

Secretary (East) in MEA Riva Ganguly Das co-chairs 23^rd ASEAN-India Senior Officials Meeting

• Secretary (East) in the Ministry of External Affairs Riva Ganguly Das co-chaired the 23rd ASEAN-India Senior Officials’ Meeting with Permanent Secretary of Thailand Thani Thongphakdi.
• Senior Officials from all ten ASEAN Member States and India attended the virtual meeting.
• During the Meeting, the status of ongoing ASEAN-India cooperation was reviewed under the whole spectrum of political-security, economic, socio-cultural and developmental cooperation.

UK becomes the first country to announce the regulation of the use of self-driving vehicles at slow speeds on motorways

• The UK has become the first country to announce the regulation of the use of self-driving vehicles at slow speeds on motorways.
• Britain’s transport ministry said that it was working on specific wording to update the country’s highway code for the safe use of self-driving vehicle systems. It added that the ministry will start with Automated Lane Keeping Systems (ALKS) – which use sensors and software to keep cars within a lane, allowing them to accelerate and brake without driver input.

Banking and Finance

ADB raises FY22 GDP forecast of India to 11%

• According to the Asian Development Bank (ADB), India’s GDP will rebound strongly by 11% in 2021-22 due to continued economic recovery boosted by increased public investment, vaccine rollout, and a surge in domestic demand.

Asian Development Bank

• Headquarters: Manila, Philippines
• President: Masatsugu Asakawa

RBI launches the latest round of surveys to get inputs for monetary policy

• The Reserve Bank announced the launch of the latest round of households’ surveys to capture inflation expectations and consumer confidence, which provides useful inputs for its monetary policy.
• Announcing the launch of the May 2021 round of Inflation Expectations Survey of Households (IESH), the RBI stated that it aims at capturing subjective assessments on price movements and inflation of approximately 6,000 households, based on their individual consumption baskets, across 18 cities.
• The cities include Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Delhi, and Guwahati.

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: MK Jain, MD Patra, M Rajeshwar Rao.
• Subsidiaries: Deposit Insurance and Credit Guarantee Corporation (DICGC), Bharatiya Reserve Bank Note Mudran (BRBNM)

RBI approval mandatory for commercial and urban cooperative banks to appoint auditors

• The Reserve Bank of India (RBI) made it mandatory for commercial banks and urban cooperative banks (UCBs) to seek its approval before appointing
• The banking regulator also ruled that the auditors will have to be appointed for a continuous period of three years with a maximum assignment tenure of six years.

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: MK Jain, MD Patra, M Rajeshwar Rao.
• Subsidiaries: Deposit Insurance and Credit Guarantee Corporation (DICGC), Bharatiya Reserve Bank Note Mudran (BRBNM)

ICICI Bank launched ‘Merchant Stack’ a digital and contactless banking platform for merchants

• ICICI Bank launched its ‘Merchant Stack’, a set of the country’s most comprehensive digital banking services specially curated for retail merchants.
• The array of banking, as well as value-added services, enables merchants, grocers, super markets, large retail store chains, online businesses and large e-commerce firms to meet their banking requirements seamlessly so that they can continue to serve their customers in challenging times during the pandemic.
• This initiative is in line with the Bank’s principle of ‘Business with Care’.
• They can avail of these facilities instantly, on InstaBIZ, the Bank’s mobile banking application for businesses.

ICICI (Industrial Credit and Investment Corporation of India)

• Headquarters: Mumbai, Maharashtra
• MD and CEO: Sandeep Bakhshi
• Tagline: Hum Hai Na, Khyal Apka

IHS Markit projects India’s FY22 GDP growth at 9.6%

• IHS Markit projected the GDP growth rate of the Indian economy (as measured by GDP) to grow at 6 per cent in FY22 (2021-22). IHS Markit is a London-based financial services company.

Acquisitions and Mergers

Indian Bank signs an MoU with BSNL to provide seamless telecom services

• Bharat Sanchar Nigam Limited (BSNL) signed a Memorandum of Understanding (MoU) with Indian Bank to provide seamless telecom services to the Bank at competitive rates.
• The MoU was signed in the presence of Imran Amin Siddiqui, Executive Director of Indian Bank and VK Sanjeevi, Chief General Manager of BSNL.

Indian Bank

• Headquarter: Chennai, Tamil Nadu
• MD and CEO: Padmaja Chunduru
• Tagline: “Your Own Bank”
• Allahabad Bank amalgamated with Indian Bank on 1 April 2020.

FSS partnered with NIPL to expand UPI in the International Market

• Financial Software and Systems (FSS) is a globally leading provider of integrated payment products signed a strategic partnership with NPCI International Payments Limited (NIPL) to expand UPI (Unified Payment Interface) rails in international markets.
• India is among the first countries globally to launch real-time payments rails, processing close to three billion transactions a month on the UPI network.

Financial Software and Systems (FSS):

• Headquarters: Chennai, Tamil Nadu
• Founder and CMD: Nagaraj Mylandla

Science and Technology

DRDO conducts maiden trial of “Python-5” air to air missile

• India’s indigenous Light Combat Aircraft, Tejas, has added the fifth generation “Python-5” Air-to-Air Missile (AAM) to its air-to-air weapons capability.
• Trials were also aimed to validate the enhanced capability of already integrated Derby Beyond Visual Range (BVR) AAM on Tejas.
• The test-firing in Goa completed a series of missile trials to validate its performance under extremely challenging scenarios.
• The missiles were fired from Tejas aircraft of Aeronautical Development Agency (ADA) flown by Indian Air Force (IAF) Test pilots belonging to the National Flight Test Centre (NFTC).

Defence Research and Development Organisation (DRDO)

• Headquarters: New Delhi
• Chairman: Dr. G Satheesh Reddy
• Founded: 1958

Appointments

Expenditure Secretary TV Somanathan Appointed Finance Sec

• The Appointments Committee of the Cabinet has approved designating Somanathan, Secretary, Department of Expenditure, Ministry of Finance as the Finance Secretary
• Somanathan, a 1987 batch IAS officer of Tamil Nadu cadre, will take charge as the finance secretary, a position earlier held by Ajay Bhushan Pandey who superannuated in February.

Stellantis India appoints Roland Bouchara as its CEO and Managing Director

• Auto major Stellantis announced the appointment of Roland Bouchara as its CEO & Managing Director of India operations. He would lead the group in the country with full responsibility for the Jeep and Citroen national sales companies (NSCs), coupled with the group’s manufacturing operations.

Awards and Recognitions

Kiran Mazumdar-Shaw becomes the first Indian woman to join the Board of Trustees of Memorial Sloan Kettering Cancer Center

• Kiran Mazumdar-Shaw was appointed to the Board of Trustees of Memorial Sloan Kettering Cancer Center (MSK), a world leader in cancer treatment and research. She became the first Indian woman to be appointed for this role.
• She is among the 52 members on the board and will serve for three years from 14 April 2021.

Ranking

India ranks 49^th in the Chandler Good Government Index (CGGI): Finland tops

• India has been ranked 49^th among 104 countries in the Chandler Good Government Index (CGGI). The list was topped by Finland. Venezuela is the last ranked country at 104 positions.
• The CGGI is an annual index developed by the Singapore-based Chandler Institute of Governance, that measures the effectiveness of governments in 104 countries across the world in terms of government capabilities and outcomes.

Obituary

National Award-winning film editor Waman Bhonsle passes away at 87

• National-award-winning editor Waman Bhonsle passed away in Mumbai due to age-related issues. He won the best editing award at the 25^th National Film award for “Inkaar”.
• He edited more than 230 films including “Mera Gaon Mera Desh”, “Do Raaste”, “Inkaar”, “Dostana”, “Agneepath”, “Parichay”, “Hero”, “Kalicharan”, “Karz”, “Ram Lakhan”, “Saudagar”, “Ghulam”, among others.

Apollo 11 astronaut Michael Collins passes away at 90

• Michael Collins is one of the three crew members of the first manned mission “Apollo 11” to the Moon in 1969 passed away at the age of 90. He had stayed in lunar orbit as his colleagues Neil Armstrong and Buzz Aldrin walked on the Moon.

April 29 CA one-liner: