Daily Current Affairs: December 8, 2021

Daily Current Affairs (December 8, 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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National News

National Commission for Women (NCW) launches a pan-India capacity-building programme ‘She is a Change maker’ for women in politics

• The National Commission for Women (NCW) launched a pan- India capacity-building programme, ‘She is a Changemaker’ for women representatives at all levels — gram panchayats, women parliamentarians and political workers, including the office bearers of national/state political parties to improve the leadership skills of grassroots women political leaders.
• This capacity-building programme will be carried out in collaboration with regional training institutes to enhance the capacity of female political leaders and improve their decision-making and communication abilities, such as oration and writing.

Microsoft launches the Cybersecurity Skilling Programme in India

• Microsoft launched the Cybersecurity Skilling Programme that aims to skill over one lakh learners by 2022 as a part of efforts to address the skills gap and empower India’s workforce for a career in digital security.
• Microsoft has introduced four new security, compliance and identity certifications, of which the accredited certification for fundamentals will be offered at zero cost for any individual who attends the associated training through this initiative.
• Microsoft will conduct these courses along with its strategic consortium of partners, including CloudThat, Koenig, RPS and Synergetics Learning.

Banking & Economy

ICICI Bank offers an instant overdraft facility to sellers registered on Flipkart

• ICICI Bank has partnered with Flipkart to offer an instant overdraft facility of up to ₹25 lakhs to individual sellers and businesses registered on Flipkart.
• This facility is enabled by application programming interface (API) integration that will help sellers to avail an overdraft from ICICI Bank instantly in a process from application, sanction to entirely digital disbursement.
• Customers of any bank can avail of this overdraft service from ICICI Bank if they are registered sellers on Flipkart.

ICICI (Industrial Credit and Investment Corporation of India)

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

India and the Asian Development Bank sign a $150 million loan agreement to provide affordable housing for the urban poor in Tamil Nadu

• Union Government of India and the Asian Development Bank (ADB) signed a $150 million (around ₹1132 crores) loan agreement to provide access to inclusive, resilient and sustainable housing for the urban poor in the state of Tamil Nadu.
• This project will provide access to affordable housing infrastructure and services to vulnerable and disadvantaged households and catalyse private sector investment in affordable housing.
• A portion of ADB’s assistance will be invested by the Tamil Nadu Government as equity into the Tamil Nadu Shelter Fund to catalyse private sector financing and support investments mainly in industrial housing and working women’s hostels for low-income and migrant workers.

Asian Development Bank (ADB)

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

India and the Asian Development Bank sign a $125 million loan agreement to improve access to affordable drinking water supply and sanitation services in Uttarakhand

• Indian Government and the Asian Development Bank signed a $125 million loan (around ₹942 crores) agreement to improve access to safe, affordable drinking water supply and sanitation services in
• This project would build a 136 km water pipe system in South Dehradun to replace faulty water networks and ensure a dependable and uninterrupted water supply.
• It will also establish sewage treatment plants in Dehradun, supported by 256 km of enclosed underground sewer networks and 117 km of stormwater drainage networks.

Reserve Bank of India keeps policy rates unchanged on its fourth bi-monthly monetary policy in December 2021

• The Reserve Bank of India (RBI) kept the key policy rates unchanged in its fourth bi-monthly monetary policy.
• The policy rates are:

• The RBI has retained its GDP growth projection at 5 per cent for 2021–22 (FY22), but revised the Q3 FY22 growth estimate to 6.6 per cent from 6.8 per cent earlier.
• The inflation projection was retained for FY22 at 3%.

Reserve Bank of India (RBI)

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

City Union Bank partners with NPCI to launch ‘RuPay On-the-Go’ wearable keychain for debit card customers

• City Union Bank (CUB) has launched the ‘RuPay On-the-Go’ contactless wearable keychain for its debit card customers in partnership with the National Payments Corporation of India (NPCI) and its manufacturing partner Seshaasai.
• This wearable keychain would increase digital payment behaviour among customers, especially the younger generation and students, by enabling faster checkout and less waiting in queue with features to set the spending limit, enable/disable usage through net banking.
• This on-the-go solution allows customers of the bank to carry payment cards on their keychains, allowing them to make quick and easy payments up to ₹5000 at any RuPay -enabled point-of-sale device (PoS) without entering a PIN.

City Union Bank

• Founded: 31 October 1904
• Headquarters: Kumbakonam, Tamil Nadu
• MD & CEO: Kamakodi

GDP Predictions

Fitch Ratings predicts India’s GDP forecast as 8.4% for Rating2021–22 (FY22)

• Fitch Ratings has projected the Gross Domestic Product (GDP) growth forecast of India as 4% for 2021–22 (FY22) from 8.7% projected earlier.
• The economic growth projection of India for the next financial year (FY23) is estimated at 10.3% from 10% projected earlier.

Fitch Ratings

• Headquarters: New York, The United States
• Founded: 1914

Appointments

Ujjivan Small Finance Bank appoints Ittira Davis as its Managing Director (MD) and Chief Executive Officer (CEO)

• Ittira Davis was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Ujjivan Small Finance Bank for three years.
• He succeeds Nitin Chugh, who resigned from the position in August 2021.
• He was also appointed as Key Managerial Personnel in terms of Section 203 of the Companies Act, 2013, for a period that will terminate along with his tenure as MD and CEO of Ujjivan Small Finance Bank.

Ujjivan Small Finance Bank

• Headquarters: Bengaluru, Karnataka
• MD & CEO: Ittira Davis
• Tagline: “We believe in your belief”

US Polo Association appoints Arjun Rampal as its brand ambassador

• Arjun Rampal was appointed as the brand ambassador of the US Polo Association.
• This is the first time an Indian ambassador was roped in as the official brand ambassador of the United States Polo Association (USPA).

Agreements and MoUs signed

Union Ministry of Rural Development and Flipkart sign an agreement to help self-help groups

• Union Ministry of Rural Development and Flipkart signed an agreement to help Self Help Groups (SHGs) producers, including the artisans, weavers and craftsmen, to access national markets through the Flipkart Samarth Programme under the National Rural Livelihood Mission (NRLM).
• SHG members and clusters will receive training assistance for onboarding products, as well as a six-month waiver of all commission charges for selling on the platform and cataloguing support for a maximum of 100 products per seller.

PayPal ties up with EarlySalary to give employees instant salary advances

• PayPal tied up with lending company EarlySalary to extend cash advances facility to its employees.
• Under this arrangement, PayPal’s employees will be able to instantly withdraw a percentage of their salary in advance.
• PayPal will determine the day-by-day earning of personnel and enable them to withdraw a proportion of that through a specified withdrawal window just about every calendar month.
• PayPal claimed this service will give its workers greater financial adaptability.

Defence News

India successfully test-fires VL- SRSAM (Short Range Surface to Air Missile) for the Indian Navy

• India has successfully test-fired Vertical Launch Short Range Surface-to-Air Missile (VL-SRSAM) from Chandipur, Odisha coast.
• The VL-SRSAM, developed by the Defence Research and Development Organisation (DRDO) for the Indian Navy, has an operational range of 50 to 60 km distance and features mid-course inertial guidance through fibre optic gyroscope and active radar homing in the terminal phase.
• This VL-SRSAM is meant for neutralising various aerial threats at close ranges, including the sea-skimming target.
• The test was conducted to ensure that all weapon system components, including the vertical launcher unit with controller, canisters flight vehicle and weapon control system, worked together for future missile launches from the Indian naval ships.

Books & Authors

Vice-President Venkaiah Naidu releases a new book titled ‘Public Service Ethics’

• Vice-President of India Venkaiah Naidu released a new book titled ‘Public Service Ethics’ authored by Prabhat Kumar.
• This book deals with ethics in governance and public service and proposes a collective quest for ethical India or Naitik Bharat.

Obituary

Padma Shri awardee and teacher Nanda Prusty passed away

• Padma Shri awardee and teacher Nanda Prusty, popularly known as ‘Nanda Master’, passed away at the age of 104.
• Nanda Prusty was honoured with the Padma Shri in November 2021 for his long contribution to the field of education and social service.
• He spent several decades of his life providing free education to children and adults in the Jajpur district in Odisha.

Daily CA- 8 December One-Liners

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