Daily Current Affairs: August 05, 2021

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National News

BRO constructs the highest motorable road in the world in Eastern Ladakh at 19,300 ft

• The Border Roads Organisation (BRO) has constructed and black-topped the highest motorable road in the world at 19,300 ft at Umling La Pass in Eastern Ladakh.
• This road created a record in high-altitude road construction. BRO has constructed a 52-km long tarmac road through Umling La Pass, bettering the previous record of a road in Bolivia connecting to its volcano Uturuncu at 18,953 ft.

Ladakh

• Capital: Leh
• Lieutenant Governor: Radha Krishna Mathur

Renew Power signs an MoU with RackBank to power India’s first hyper-scale data centre with 100% renewable energy

• India’s leading renewable energy company Renew Power signed a Memorandum of Understanding (MoU) with RackBank Datacenters Limited.
• ReNew Power will supply power generated from renewable sources to RackBank’s hyper-scale data centre in India after a Power Purchase Agreement (PPA) is signed with RackBank.

Union Cabinet approves nearly Rs. 3 lakh crores for Samagra Shiksha Abhiyan 2.0

• The Union Cabinet Committee on Economic Affairs has approved the extension of the centrally sponsored Samagra Shiksha Abhiyan (SSA) 2.0. It is an integrated scheme for school education from 01 April 2021 to 31 March 2026 with an estimated outlay of around 3 lakh crores.
• The Union Government has decided to enhance the incentive to children with disabilities to 5,000 and extend the Rs. 6000 transport incentive per annum per student to secondary level for students in difficult areas.

IIT Roorkee launches India’s first earthquake early warning mobile app “Uttarakhand Bhookamp Alert”

• IIT Roorkee has launched an earthquake early warning (EEW) mobile app called “Uttarakhand Bhookamp Alert”. This project was sponsored by Uttarakhand State Disaster Management Authority (USDMA).
• This app is India’s first earthquake early warning app for notifying people about earthquake alerts.

Uttarakhand

• Capital: Dehradun
• Chief Minister: Pushkar Singh Dhami
• Governor: Baby Rani Maurya
• National Parks: Corbett National Park, Gangotri National Park, Govind Pashu Vihar National Park, Nanda Devi National Park, Rajaji National Park, Valley of Flowers National Park

ADB provides Rs. 831 crore loan to finance water supply project in Jharkhand

• Multilateral funding agency Asian Development Bank (ADB) has provided an 831 crore ($112 million) loan to finance water supply infrastructure in Jharkhand.
• This project supports the Jharkhand Vision and Action Plan 2021 to improve the quality of life of its urban residents through better quality urban infrastructure.

Asian Development Bank (ADB)

• Founded: 19 December 1966
• Headquarters: Mandaluyong, Philippines
• President: Masatsugu Asakawa
• Chief Economist: Yasuyuki Sawada

Jharkhand

• Capital: Ranchi
• Chief Minister: Hemant Soren
• Governor: Ramesh Bais

APEDA inks an MoU with the University of Agricultural Science in Bangalore for boosting agri-exports

• Agricultural and Processed Food Products Export Development Authority (APEDA) signed a Memorandum of Understanding (MoU) with the University of Agricultural Sciences (UAS) in Bangalore to boost the export of agricultural and processed food products, especially from Karnataka.

IFFCO signs an MoU with IIT Delhi for joint research in farm and nanotechnology areas

• Fertiliser cooperative Indian Farmers Fertiliser Co-operative Limited (IFFCO) has signed an MoU with IIT Delhi for research consultancy, knowledge transfer and collaborative projects.
• IFFCO aims to develop highly advanced agricultural technological projects and promote precision farming and sustainable development in India to double farmer’s income by 2022.

Indian Farmers Fertiliser Cooperative Limited (IFFCO)

• Headquarters: New Delhi
• Managing Director: US Awasthi
• Founded: November 1967

Tamil Nadu CM MK Stalin launches ‘Makkalai Thedi Maruthuvam’ scheme

• Tamil Nadu Chief Minister MK Stalin launched ‘Makkalai Thedi Maruthuvam’, a doorstep healthcare scheme.
• Under this scheme, help will be delivered at the doorstep and the need for patients to visit hospitals for treating non-communicable diseases will be eliminated.
• This scheme will involve door-to-door check-ups for people by a field team, including women health volunteers (WHVs) under the Tamil Nadu Corporation for Development of Women.

Tamil Nadu                      

• Capital: Chennai
• Chief Minister: MK Stalin
• Governor: Banwarilal Purohit
• National Parks: Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Annamalai) National Park, Mudumalai National Park

International News

Germany becomes the 5^th country to sign the International Solar Alliance Framework Agreement

• Germany became the 5^th country to sign the International Solar Alliance Framework Agreement (ISA) after amendments.
• Recently, Denmark became the first country to ratify International Solar Alliance Framework Agreement (ISA FA) after amendments.

Germany

• Capital: Berlin
• Currency: Euro
• President: Frank-Walter Steinmeier
• Chancellor: Angela Merkel

India and the World Bank sign a $250 million project to make existing dams safe and resilient

• World Bank has signed a $250 million project with India for a long-term dam safety programme and improving the safety and performance of existing dams across various states in India.
• The Second Dam Rehabilitation and Improvement Project (DRIP-2) will strengthen dam safety by building dam safety guidelines, bringing in global experience and introducing innovative technologies.

World Bank

• Headquarters: Washington DC, United States
• President: David Malpass
• Founded: 1944

India’s lightest and Pune’s first metro train flagged off from Italy

• According to the Union Ministry of Housing and Urban Affairs, India’s lightest and Pune’s first metro train was rolled out in Italy.
• Titagarh Wagons Limited, a company based out of Titagarh in West Bengal, held a virtual ceremony today to display its first train manufactured for Pune Metro. It was manufactured by its subsidiary in Italy (Europe), Titagarh Firema SpA Plant.

Italy

• Capital: Rome
• President: Sergio Mattarella
• Prime Minister: Mario Draghi

Banking and Economy

RBI imposes Rs. 6 lakhs penalty on Hewlett-Packard Financial Services

• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 6 lakhs on Bengaluru-based Hewlett-Packard Financial Services (India) Private Ltd.
• This penalty was imposed in exercise of powers vested in the RBI under the provisions of the Reserve Bank of India Act, 1934 and the Credit Information Companies (Regulation) Act, 2005, taking into account the failure of the company to adhere to the aforesaid directions issued by RBI.

ICICI Prudential Life becomes the first insurance company in India to integrate NPCI’s UPI AutoPay

• ICICI Prudential Life Insurance has partnered with the National Payments Corporation of India (NPCI) to offer a Unified Payments Interface (UPI) AutoPay facility to its customers.
• This will help the customers in buying insurance policies and make premium payments from the safety and comfort of their homes.
• ICICI Prudential Life became the first life insurance company to provide its customers with the UPI AutoPay facility as part of its efforts to simplify processes and thereby provide convenience to customers.

SEBI allows payments banks to act as investment bankers

• Markets regulator Securities and Exchange Board of India (SEBI) allowed payments banks to provide easy access to investors to participate in public and rights issues by using various payment avenues.
• Non-scheduled payments banks, which have prior approval from the Reserve Bank of India (RBI), will be eligible to act as a Banker to an Issue (BTI).

Securities and Exchange Board of India (SEBI)

• Headquarter: Mumbai, Maharashtra
• Chairman: Ajay Tyagi
• Founded: 12 April 1992

Appointments

RBI approves the re-appointment of Prakash Chandra as the Non-Executive Chairman of RBL Bank for three years

• The Reserve Bank of India (RBI) has approved the re-appointment of Prakash Chandra as the Non-Executive (Part-Time) Chairman of the RBL Bank for three years.

RBL bank

• Headquarters: Mumbai, Maharashtra
• MD & CEO: Vishwavir Ahuja

Himanshu Kapania was appointed as the Non-Executive Chairman of Vodafone Idea

• Himanshu Kapania was appointed as the non-executive Chairman of Vodafone Idea. Aditya Birla Group Chairman Kumar Mangalam Birla resigned as the non-executive Director and Non-Executive Chairman of the Vodafone Idea Board.

Awards and Recognitions

West Bengal receives four SKOCH awards for its schemes under the Ease of Doing Business initiative

• West Bengal has received four SKOCH awards for its schemes under the Ease of Doing Business initiative.
• The state scheme ‘Silpasathi’ — the online single window portal won the platinum award while the Auto-Renewal of Certificate of Enlistment through an online system for urban areas has received the gold award.
• Online issuance of trade licences in rural areas and the E-Nathikaran have won two silver awards.

West Bengal    

• Capital: Kolkata
• Chief Minister: Mamata Banerjee
• Governor: Jagdeep Dhankhar
• National Parks: Buxa National Park, Gorumara National Park, Neora Valley National Park, Jaldapara National Park, Singalila National Park, Sundarbans National Park

Obituary

Padma Shri awardee and Dogri writer Padma Sachdev passed away at 81

• Noted author and Padma Shri awardee Padma Sachdev passed away at the age of 81. She won the Sahitya Akademi Award in 1971 for her book ‘Meri Kavita Mere Geet’.
• She also received the Padma Shri Award in 2001 for her contributions to Hindi and Dogri.

Sports News

India men’s hockey team wins bronze medal at the 2020 Tokyo Olympics

• India won the men’s hockey bronze medal match at the 2020 Tokyo Olympics. Simranjeet Singh scored two goals for India in the bronze medal match. India defeated Germany.

Daily CA August 5 One-liner:

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