Daily Current Affairs: August 19, 2021

Daily Current Affairs (August 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

World Humanitarian Day – 19 August

• World Humanitarian Day is observed on 19 August annually to honour humanitarians across the world.
• The theme of this year 2021 is #The Human Race
• This day is observed to pay tribute to people who sacrificed their lives despite the odds and continue to provide protection and life-saving support to people in need.

World Photography Day – 19 August

• World Photography Day is observed on 19 August annually to celebrate the craft, art, science and history of photography.

• The objective of this day is to inspire more photographers and experts to talk about their profession that is a fine blend of art and technology.

National News

Union Minister of Commerce and Industry virtually chairs the 5^th edition of the BRICS Industry Ministers Meeting

• Union Minister of Commerce and Industry Piyush Goyal virtually chaired the 5^th edition of the BRICS Industry Ministers Meeting.
• The Industry Ministers of Brazil, Russia, China and South Africa attended the meeting.

Banking and Economy

Reserve Bank of India revises the norms for the hiring of lockers facility provided by banks

• The Reserve Bank of India (RBI) released the revised guidelines for the hiring of lockers and safe custody facility in view of various developments in the area of banking and technology, nature of consumer grievances and the feedback received from banks.
• The new guidelines will be effective from 1 January 2022 and applicable to new as well as existing lockers.

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)

Kotak Mahindra Bank partners with Creditas Solutions for digital repayment platform

• Powered by Artificial Intelligence (AI) and Machine Learning (ML), the ‘Neo Collections’ platform delivers a personalised and non-intrusive experience, thereby enabling customers to manage their dues seamlessly on their own through an intuitive repayment platform.

Kotak Mahindra bank

• Headquarters: Mumbai, Maharashtra
• MD & CEO: Uday Kotak

Spice Money builds 1 lakh micro-ATMs in rural India

• Spice Money established a mammoth ATM network with 1 lakh Spice Money micro -ATMs operating across rural India.
• Spice Money witnesses over Rs. 1000 crores worth of transactions on a monthly basis on its mATM network.

Ind-Ra revises its GDP growth forecast of India for the current fiscal year

• India Ratings (Ind-Ra) lowered the gross domestic product (GDP) growth estimate for India to 9.4 per cent from 9.6 per cent for the current fiscal year 2021–2022.

Ind-Ra

• Headquarters: Mumbai
• Founded: 1995

ICICI Bank, HSBC and Standard Chartered enters India’s 1^st swaption deal

• ICICI Bank made India’s first set of ‘swaption’ deals with HSBC and Standard Chartered Bank and heralded a new era of risk management in the interest-rate derivatives market that needs to introduce world-class solutions to draw more overseas funds into local debt assets.

Defence News

India and Vietnam navies undertake a bilateral maritime exercise in the South China Sea

• The Indian Navy ships INS Ranvijay and INS Kora undertook bilateral maritime exercises with Vietnam People’s Navy (VPN) frigate VPNS Ly Thai To (HQ-012) to consolidate the strong bond shared by the two navies and would be another step towards strengthening India-Vietnam defence relations.

Appointments

Supreme Court of India recommends nine names for the appointment of judges to the Supreme Court of India  

• The Collegium of Supreme Court headed by the Chief Justice of India N. V. Ramana recommended elevation of the following Chief Justices/Judges of the High Courts and a Bar member as Judges in the Supreme Court.

N. K. Singh was elected as the President of the Institute of Economic Growth Society

• N. K. Singh was elected as the President of the Institute of Economic Growth (IEG) Society. He succeeded Manmohan Singh.

Agreements and MoUs signed

Union Cabinet approves an MoU between India and Bangladesh on cooperation in disaster management

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Memorandum of Understanding (MoU) on cooperation in the field of disaster management, resilience and mitigation signed between India and Bangladesh.
• This MoU provides for the exchange of relevant information, remote sensing data and other scientific data and supporting the training of officials in disaster management.

Union Cabinet approves an MoU between India and the United States in the field of geology

• The Cabinet approved a pact between India and the United States of America on cooperation in the field of geology.
• Memorandum of Understanding (MoU) will provide an institutional mechanism between the Geological Survey of India (GSI) and the Florida International University (FIU) on cooperation in the field of geology.

IIT Madras is set to collaborate with the Union Ministry of Road Transport and Highways on pavement engineering and intelligent transportation systems

• Indian Institute of Technology (IIT) Madras is set to collaborate with the Union Ministry of Road Transport and Highways (MoRTH) to conduct research on pavement engineering and intelligent transportation systems.
• The research areas include pavement materials, hydrogen cell transportation, automatic vehicle classification, novel toll systems, FASTag data analytics and traffic simulations beside transportation safety, among others.

India and Australia sign a joint guidance for the Australia-India Navy to Navy relationship document

• The chiefs of the Indian and Australian navies signed a joint guidance for the Australia-India Navy to Navy relationship document to streamline interaction between the two forces at various levels.
• This document is aligned to the ‘2020 Comprehensive Strategic Partnership’ agreed to by Prime Ministers of the two nations and aims to ensure a shared approach to regional and global security challenges.

Sports News

Indian mixed relay team won a bronze medal at the World Athletics U-20 Championship 2021

• Indian mixed 4×400 m relay team bagged a bronze medal to clinch India’s fifth medal in the history of the World Athletics U-20 Championships in Nairobi, Kenya.
• The 2021 edition of the World Athletics U-20 Championships will be held ill 22 August at the Nyayo Sports Complex, Kenya.

Books and Authors

A new book titled “The Dream of Revolution: A Biography of Jaya Prakash Narayan” is set to be released

• A new book titled “The Dream of Revolution: A Biography of Jayaprakash Narayan” was authored by historians Bimal Prasad and Sujata Prasad. This book will be published by Penguin Random House India.

Daily CA 19 August one-liner

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