Daily Current Affairs: April 22, 2021

Daily Current Affairs (April 22, 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 Mother Earth Day – 22 April

• The United Nations General Assembly proclaimed 22 April as International Mother Earth Day through a resolution adopted in 2019. The Day recognises the Earth and its ecosystems as humanity’s common home and the need to protect her to enhance people’s livelihoods, counteract climate change, and stop the collapse of biodiversity.
• 2021 Theme: “Restore our Earth” 

National News

Jagan Mohan Reddy launches ‘YSR zero interest crop loan scheme’ for farmers

• Chief Minister of Andhra Pradesh YS Jagan Mohan Reddy launched the YSR Zero Interest Crop Loan Scheme. The Government of Andhra Pradesh provided financial assistance of 65,000 crores to the farmers under various schemes.
• Under the scheme, an amount of 128.47 crore was directly credited into the bank accounts of the Rs. 6.27 lakh farmers who had availed themselves of crop loan of up to Rs. 1 lakh during the 2019-20 rabi season and repaid the amount within the stipulated time.

Andhra Pradesh

• Capital: Amaravati
• Chief Minister: Y. S. Jaganmohan Reddy      
• Governor: Biswa Bhushan Harichandan
• Folk dances: Kuchipudi, Vilasini Natyam, Bhamakalpam, Veeranatyam
• National Park: Sri Venkateswara National Park, Rajiv Gandhi National Park, Papikonda National Park

ITBP sets up a water sports and adventure training institute in Uttarakhand

• A Water Sports and Adventure Institute (WSAI) was established by the Indo-Tibetan Border Police (ITBP) at Tehri Dam in Uttarakhand. The institute was inaugurated by Chief Minister of Uttarakhand Tirath Singh Rawat and Sports Minister Kiren Rijiju.
• ITBP’s Mountaineering and Skiing Institute at Auli will independently run this institution, which will impart training in aero, water and land-related sports and adventure activities.

Uttarakhand

• Capital: Dehradun
• Chief Minister: Tirath Singh Rawat
• Governor: Baby Rani Maurya
• National Parks: Corbett National Park, Gangotri National Park, Govind PashuVihar National Park, Nanda Devi National Park, Rajaji National Park, Valley of Flowers National Park

International News

India elected to 3 bodies of the UN Economic and Social Council

• India was elected by acclamation to three bodies of the United Nations Economic and Social Council. India was elected by acclamation to the Commission on Crime Prevention and Criminal Justice for a three-year term beginning 1 January 2022.
• Austria, Bahrain, Belarus, Bulgaria, Canada, France, Ghana, Libya, Pakistan, Qatar, Thailand, Togo, and the US were also elected by acclamation while Brazil, Dominican Republic, Paraguay, Chile, Cuba were elected by secret ballot.

UN Economic and Social Council (ECOSOC)

• Headquarters: New York, USA
• President: Munir Akram

Australia launches grant program to widen Indo-Pacific partnership with India

• Australia’s High Commissioner to India, Barry O’Farrell, had launched the Australia-India Indo-Pacific Oceans Initiative Partnership (AIIPOIP) grant program to help support a free, open and prosperous Indo-Pacific underpinned by the rule of law and respect for sovereignty.
• This AUD 1.4 million (INR 8.12 crore) grant program is a practical initiative to advance Australia and India’s shared vision for the Indo-Pacific.

Australia:

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

Banking and Economy

Aceware launches the first neobank in Kerala

• Aceware FinTech Services, a leading fintech services company in Kerala, had launched the state’s first neobank, Ace Money Neobank, in partnership with YES Bank and ICICI Bank. In the first phase, start-ups, traders, and business entities can open current accounts with the neobank.
• Neobank is a kind of virtual bank that operates without any physical branches. Neobanks mainly target customers who make financial transactions using mobile applications and other digital media platforms.
• The services of Ace Money are available at all the panchayats in Kerala and customers can make all the financial transactions at the service points of Ace Money neobank.

HDFC enters into co-lending partnership with Indiabulls Housing Finance

• Indiabulls Housing Finance (IBH) and mortgage lender HDFC Limited had entered into a strategic co-lending partnership to offer housing loans at competitive rates.
• IBH originated retail home loans as per jointly drawn-up credit policy and retain 20 per cent of the loan in its books, and 80 per cent on HDFC books.
• In November last year, the Reserve Bank came out with a Co-Lending Model (CLM) scheme, under which banks can provide loans along with NBFCs to priority sector borrowers based on a prior agreement.
• All transactions (disbursements/ repayments) between the banks and NBFCs relating to CLM have to be routed through an escrow account maintained with the banks, to avoid intermingling of funds.

South Africa’s FirstRand Bank to exit India after 12 years

• FirstRand Bank, South Africa’s second-largest bank with $118 billion in assets is the latest foreign bank to completely exit India ending almost 12 years of trying to build a local franchise in the country. First Rand India is a licensed financial services provider in India and operates as a “branch” of FirstRand Bank South Africa.
• The South African lender started operations as late as 2009 and started lending to individual customers and small and medium enterprises only in 2012.

World Bank’s IFC to make debt investment of $150 mn in Bajaj Finance

• World Bank’s International Finance Corporation (IFC) made a debt investment of $150 million (about Rs 1,132 crore) in non-bank lender Bajaj Finance Limited, likely its third funding deal with the consumer finance company.
• The five-year loan is essential to support micro, small and medium enterprise (MSME) loans.

Punjab National Bank signs an MOU with SwitchON for Solar Pump Financing

• SwitchON Foundation had partnered with Punjab National Bank for the promotion of solar pumps. A First Loss Default Guarantee Fund had been set up by SwitchON Foundation through which Punjab National Bank financed solar pumps.
• This partnership is extremely important in creating an ecosystem for encouraging the large-scale deployment of solar pumps.
• Guarantee funds are set up to improve project bankability and reduce lender’s risk perception – such arrangements have been set up by the Ministry of MSME to increase lending for small businesses.

Punjab National Bank

• Founded: 12 Apr 1894
• Headquarters: New Delhi
• MD and CEO: SS Mallikarjuna Rao

ICRA revises India’s GDP Forecast by 0.5% to 10.5% in FY22

• Domestic rating agency ICRA cut its 2021-22 growth estimate by 5 per cent on the upper end. The agency now expects the economy to grow 10-10.5 per cent in 2021-22, against the 10-11 per cent estimated earlier.

CARE Ratings cuts India’s FY22 GDP forecast to 10.2%

• CARE Ratings has cut the GDP growth forecast for FY22 from 7-10.9 per cent to 10.2 per cent. The agency estimated the potential loss of Gross Value Added (GVA) at Rs. 1.13 lakh crore.

Acquisitions and Mergers

IIT Kharagpur signs an MoU with NCDC to promote sustainable developments in cooperatives, agriculture and allied sectors

• IIT Kharagpur and the National Cooperative Development Corporation (NCDC) have signed an MoU towards greater collaboration in issues and areas related to the development of cooperatives, agriculture and allied sectors and the holistic approach towards sustainable development.
• The scope of the MoU will involve the advancement of training, action research, studies, policy analysis, policy advice, consultancy, monitoring, evaluation, system development and technology development.

Appointments

Vanita Gupta becomes the first Indian-American to be US’ associate attorney general

• Prominent Indian-American civil rights lawyer Vanita Gupta has been confirmed by the US Senate as associate attorney general, making her the first person of colour to occupy the third-highest position at the Department of Justice.
• She served as the assistant attorney general for civil rights under President Barack Obama, where she advanced criminal justice reform, prosecuted hate crimes, protected voting rights and fought against discrimination.

Organisation for the Prohibition of Chemical Weapons selects Comptroller and Auditor General GC Murmu as its external auditor

• Hague-based Conference of State Parties of the Organisation for the Prohibition of Chemical Weapons selected the CAG as its external auditor for a three-year term starting 2021.
• The Organisation for the Prohibition of Chemical Weapons (OPCW) is an intergovernmental organisation and the implementing body for the Chemical Weapons Convention, which entered into force on 29 April 1997.
• A Chemical Weapon is a chemical used to cause intentional death or harm through its toxic properties. Munitions, devices and other equipment specifically designed to weaponise toxic chemicals also fall under the definition of chemical weapons.

Awards and Recognition

Tamil Nadu teenager Arjun Kalyan becomes India’s 68^th Grand Master

• Arjun Kalyan became India’s 68^th Grandmaster. The 18-year-old from Chennai crossed the 2500 ELO mark after scoring a win over Dragan Kosic in the 5^th round of the ongoing GM Round Robin “Rujna Zora-3” in Serbia.

Rankings

India ranks 87^th in the Global Energy Transition Index: Sweden tops

• India had been ranked at the 87^th position among 115 countries in the Energy Transition Index (ETI) by the World Economic Forum (WEF) that tracks nations on the current performance of their energy systems across various aspects.
• The index benchmarks 115 countries on the current performance of their energy systems across three dimensions – economic development and growth, environmental sustainability, and energy security and access indicators and their readiness to transition to secure, sustainable, affordable, and inclusive energy systems.
• The World Economic Forum is the International Organisation for Public-Private Cooperation. The Forum engages the foremost political, business, cultural, and other leaders of society to shape global, regional, and industry agendas.

World Economic Forum (WEF)

• Headquarters: Cologny, Switzerland
• Founder & Executive Chairman: Kalus Schwab
• President: Borge Brende
• Founded: 24 January 1971
• Motto: “Committed to improving the state of the world”

Obituary

Eminent Bengali poet Shankha Ghosh passes away at 89

• Eminent Bengali poet Shankha Ghosh passed away at the age of 89. He was awarded Padma Bhushan in 2011 and he received the Jnanpith Award in 2016. He received the Sahitya Akademi Award for his book ‘Babarer Prarthana’ in

Veteran actor Kishore Nandlaskar passes away at 81

• Veteran actor Kishore Nandlaskar passed away at the age of 81. He has featured in several Marathi and Hindi films like ‘Purna Satya’ and ‘Jis Desh Mein Ganga Rehta Hai’.

Former Delhi minister AK Walia passes away at 72

• Former Delhi minister AK Walia passed away due to Covid-19. Walia was MLA for four consecutive terms. The four-time MLA had represented the Laxmi Nagar assembly constituency in his fourth term and had the Health, Urban Development, Land & Building portfolios.

April 22 CA One-liner: