Daily Current Affairs: May 11, 2021

Daily Current Affairs (May 11, 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 Days

National Technology Day – 11 May

• National Technology Day is observed on 11 May every year. The day marks the anniversary of the Pokhran nuclear tests of 1998 and India’s technological advancements. Pokhran nuclear tests were a series of five nuclear bomb test explosions conducted by India at the Indian Army’s Pokhran Test Range in Rajasthan.
• 2021 Theme: “Science and Technology for a Sustainable Future”’

National News

NITI Aayog and Mastercard release report on ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’

• NITI Aayog (National Institution for Transforming India) and Mastercard released a report titled ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’.
• The report identifies challenges in accelerating digital financial inclusion in India and provides recommendations for making digital services accessible to its 1.3 billion citizens.

NITI Aayog (National Institution for Transforming India)

• Headquarters: New Delhi
• CEO: Amitabh Kant
• Chairperson: Narendra Modi
• Vice-Chairperson: Rajiv Kumar

International New

Indian and Indonesian navies conduct PASSEX exercise in the Arabian Sea

• The Indian and Indonesian Navies conducted Passage Exercise (PASSEX) in the southern Arabian Sea with a focus on further improving their interoperability.
• The Indian Navy was represented by INS Sharda, an Offshore Patrol Vessel (OPV) and the Indonesian Navy was represented by KRI Sultan Hasanudin, a 90m Corvette, a press release from the Southern Naval Command.

Indonesia

• Capital: Jakarta
• Currency: Indonesian rupiah
• President: Joko Widodo

Union Minister Harsh Vardhan participates in the 3^rd Arctic Science Ministerial held in Tokyo

• Union Minister of Science and Technology, Health and Family Welfare, and Earth Sciences, Harsh Vardhan virtually participated in the 3^rd Arctic Science Ministerial held in Tokyo, Japan. The summit was held under the theme of “Knowledge for a Sustainable Arctic”.

Japan

• Capital: Tokyo
• Currency: Japanese yen
• Prime minister: Yoshihide Suga

Banking and Economy

RBI extends restrictions on Karnataka-based Millath Co-operative Bank by 3 months

• The Reserve Bank of India (RBI) has extended the restrictions on Karnataka-based Millath Co-operative Bank by three months, till 8 August 2021.
• The bank would also not enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets.

Reserve Bank of India (RBI)

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

Bajaj Finance gets RBI nod for prepaid payment instruments

• The Reserve Bank of India (RBI) granted authorisation to Bajaj Finance for the issuance and operation of semi-closed prepaid payment instruments with perpetual validity.
• A semi-closed PPI is effectively a digital wallet but one through which transactions can flow to merchants and establishments other than the one offering the wallet services.

Prepaid payment instruments (PPI):

• Prepaid payment instruments (PPIs) is to help facilitate the purchase of goods and services, including financial services, remittances and fund transfers to family and friends against the value stored on such instruments.

Acquisitions and recognitions

HDFC Bank partners with CSC to offer Chat Bot EVA’s support to village level entrepreneurs

• Private lender HDFC Bank partnered with Common Services Centers (CSCs) jointly announced the launch of chatbot ‘Eva’ on CSC’s Digital Seva Portal to support Village Level Entrepreneurs (VLEs) in providing banking services for last-mile rural consumers.

HDFC Bank (Housing Development Finance Corporation)

• Headquarters: Mumbai, Maharashtra
• Chairman: Deepak Parekh
• MD & CEO: Sashidhar Jagdishan
• Tagline: “We understand your world”
• Established: 1994

Science and Technology

SpaceX set to launch Doge-1 satellite to the moon funded with dogecoin in 2022

• SpaceX will launch a satellite to the Moon in 2022 funded entirely with the cryptocurrency The funded lunar mission is led by the Canadian company Geometric Energy Corporation.
• The satellite, dubbed ‘DOGE-1’, will be launched aboard a SpaceX Falcon 9 rocket in the first quarter of 2022.

Reliance Retail becomes the second-fastest-growing retailer behind Coupang: Deloitte report

• Mukesh Ambani’s Reliance Retail Limited has been ranked second fastest-growing retailer in the world in the 2021 ranking of global retail powerhouses by Deloitte. South Korean company Coupang is the World’s 1^st Fastest-Growing Retailer.
• Reliance Retail Limited has been ranked 53^rd in the list of Global Powers of Retailing, an improvement from 56^th
• The list is topped by US giant Walmart Inc followed by com Inc, Costco Wholesale Corporation of US and Schwarz Group of Germany.

Appointments

Reserve Bank of India appoints Jose J Kattoor as the new Executive Director of RBI

• The Reserve Bank of India (RBI) was appointed Jose J Kattoor as the executive director (ED). He will look after human resource management, corporate strategy, budget and rajbhasha departments at the central bank.
• He holds a post-graduate qualification from the Institute of Rural Management of Anand, Bachelor of Law from Gujarat University, and Advanced Management Program (AMP) from Wharton School of Business, Pennsylvania.

Reserve Bank of India (RBI)

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

Indian-origin immunologist Sankar Ghosh elected to the National Academy of Sciences

• An eminent and award-winning Indian-origin immunologist, Sankar Ghosh was elected to the prestigious National Academy of Sciences in recognition of his distinguished and continuing achievements in original research.
• He is the Silverstein and Hutt Family Professor of Microbiology and Chair of the Department of Microbiology & Immunology at the Vagelos College of Physicians and Surgeons at Columbia University.

Awards and Recognitions

Babar Azam and Alyssa Healy named the ICC players of the month for April 2021

• Pakistan skipper Babar Azam was named the ICC Men’s Player of the Month for April 2021. Australian women’s team wicketkeeper-batsman Alyssa Healy was bagged the ICC Women’s Player of the month for her incredible performances in April.

International Cricket Council (ICC)

• Headquarters: Dubai, United Arab Emirates (UAE)
• Chief Executive Officer: Manu Sawhney
• Chairman: Greg Barclay
• Motto: “Cricket for Good”

Books and Authors

A new book titled “Elephant” was authored by Paul Pickering

• A new book titled “Elephant” was authored by a British novelist Paul Pickering. The book was published by Salt Publishing.
• The novel explores the man in Paris, who uses the story of the elephant to get Natasha to go back to her first love, her voice, poetry.

Obituary

Telugu actor Thummala Narsimha Reddy passed away

• Film journalist and actor Thummala Narsimha Reddy passed away in Hyderabad. He was also popular for his YouTube show, Frankly with TNR.

Former Asiad gold medallist footballer Fortunato Franco passed away at 84

• Former India international footballer Fortunato Franco passed away at the age of 84 in Goa. He was an integral part of the Indian football team which won the Gold medal at the 1962 Asian Games.