Daily Current Affairs: November 19, 2021

Daily Current Affairs (November 19, 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

International Men’s Day – 19 November

• International Men’s Day is observed on 19 November to value the accomplishments and contributions of all men in society as dads, brothers, spouses and coworkers.
• Theme for 2021: ‘Better relations between men and women’.

World Toilet Day – 19 November

• World Toilet Day is observed on 19 November to raise awareness about safe sanitary practices and healthy restroom etiquette.
• Theme for 2021: ‘Valuing Toilets’.

National News

Union Ministry of Jal Shakti is set to launch the ‘Water Heroes – Share Your Stories’ contest from 1 December

• Union Ministry of Jal Shakti is set to launch the ‘Water Heroes – Share Your Stories’ contest from 1 December 2021 to encourage and collect best practices in water conservation and management from across India and also to boost transformational action in the water sector.
• Every month, a maximum of 10 entries would be awarded with a cash prize of ₹10,000

Union Government decides to repeal all three farm laws

• Prime Minister Narendra Modi announced that the Union Government has decided to repeal the three farm laws that were passed in Parliament in 2020, following protests by a section of the farmers.
• Despite the Union Government’s continuing efforts to break the deadlock, a segment of farmers in Punjab and Haryana, as well as some parts of Uttar Pradesh, have been protesting for the past year, demanding the repeal of the three farm laws.
• These laws are – The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Act, and The Essential Commodities (Amendment) Act.

Banking & Economy

Asian Development Bank approves a $150 million for small entrepreneurs in Bangladesh

• The Asian Development Bank (ADB) has approved a $150 million loan to Bangladesh to support cottage, micro and small enterprises (CMSEs) run by youth, returning migrant workers and rural entrepreneurs, particularly women, who have been disproportionately affected by the COVID -19 outbreak.
• This project aims to facilitate employment creation and help these vulnerable groups recover from the adverse impact of the COVID-19 pandemic.

Asian Development Bank (ADB)

• Founded: 19 December 1966
• Headquarters: Mandaluyong, Philippines
• President: Masatsugu Asakawa

Asian Infrastructure Investment Bank (AIIB) approves a $150 million loan to India for the implementation of sustainable urban services programme for Chennai Metropolitan Area

• The Asian Infrastructure Investment Bank (AIIB) has approved a $150 million loan to the Government of India for the implementation of the sustainable urban services programme for Chennai Metropolitan Area (CMA).
• The objective of this fund is to strengthen institutions and financing for improving the quality and sustainability of selected urban services in the CMA.
• India is the largest beneficiary of AIIB and the bank has so far approved 29 projects for India worth $6.8 billion.

Reserve Bank of India’s Working Group proposes a new law to regulate digital lending

• The Reserve Bank of India (RBI) Working Group proposed a new law to regulate digital lending to ensure that technology is used to provide credit to the underbanked, but not at the expense of broader financial stability and customer protection.
• Unauthorised lending would be prohibited by a new law and a self-regulatory organisation (SRO) would develop a principle-based regulatory framework for new-age enterprises.
• The Working Group also recommended that consumers be restricted from stacking and flipping loans by consumers to avoid excess leverage by borrowers through quick reporting. A nodal authority should be established to verify and maintain a public register of all digital lending applications (DLAs).

GDP Predictions

Economic Advisory Council of India projects India’s growth at 7–7.5% in 2022–2023

• India’s Economic Advisory Council to Prime Minister Narendra Modi projects India’s growth to range between 7% and 7.5% in 2022–
• Union Government expects the economy to grow 5% in the current fiscal year (2021–2022) following a record contraction of 7.3% last year.

Awards and Recognitions

Puneeth Rajkumar is set to be honoured with the Karnataka Ratna award posthumously

• The Karnataka Government has decided to honour late actor Puneeth Rajkumar with the ‘Karnataka Ratna award’
• He will be the tenth recipient of Karnataka’s highest civilian honour.
• His late father Rajkumar was among the first recipients of Karnataka Ratna award in 1992, along with poet Kuvempu.

Acquisitions and Mergers

Sundaram Asset Management gets SEBI’s approval to acquire Principal Asset Management Private Limited

• Sundaram Asset Management Company Limited (Sundaram AMC) has received the Securities and Exchange Board of India’s (SEBI) approval to acquire the asset management business of Principal Asset Management Private Limited (Principal India).
• This deal was originally announced in January 2021.
• The combined business of both entities will achieve an aspirational landmark of ₹50,000 crores.

Agreements and MoUs signed

National Payments Corporation of India (NPCI) signs an MoU with Network International for UPI payments in the UAE

• The National Payments Corporation of India (NPCI) has signed a Memorandum of Understanding (MoU) with the Network International for a mobile-based real-time Unified Payments Interface (UPI) payment system in the United Arab Emirates.
• The proposed rollout of UPI mobile payment solutions on Network International’s merchant network in the UAE is expected to commence in the first quarter of 2022.
• The availability of a trusted and familiar mobile payment option such as UPI will enable Indian visitors to pay for their purchases in the UAE safely and with ease.

Books & Authors

Vice President M. Venkaiah Naidu releases a new book titled ‘Srimadramayanam’ authored by Sasi Kiran

• Vice President M. Venkaiah Naidu released a new book titled ‘Srimadramayanam’ authored by Sasi Kiran to draw inspiration from Lord Rama’s life in fulfilling their duty towards the motherland.

Sports News

AB de Villiers announces retirement from all forms of cricket

• South African cricket legend AB de Villiers has announced retirement from all forms of cricket.
• He played 114 Tests, 228 One Day Internationals and 78 Twenty20 Internationals.
• He is sixth in the list of all-time run-getters in the Indian Premier League (IPL) with 5,162 runs in 184 matches at an average of 39.70. His strike rate of 151.68 is best among the top 20 run-getters in the IPL tournament.

Obituary

The voice of Indian FOOTBALL Novy Kapadia passed away

• Veteran football commentator or Voice of Indian football and former Delhi University professor Novy Kapadia passed away at the age of 67.
• He was a known football pundit, who had covered nine FIFA World Cup tournaments.
• He had written books like Barefoot to Boots and The Many Lives of Indian Football and also authored The Football Fanatic’s Essential Guide Book in 2014.

Daily CA 19 November Oneliner:

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