Daily Current Affairs: August 24, 2021

Daily Current Affairs (August 24, 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 Water Week 2021 – 23 to 27 August 2021

• The World Water Week 2021 is organised from 23–27 August virtually under the theme ‘Building Resilience Faster’.
• Since 1991, the Stockholm International Water Institute (SIWI) observes World Water Week to highlight the global water issues and related concerns of international development.

National News

Union Finance Minister Nirmala Sitharaman launches the National Monetisation Pipeline

• Union Finance Minister Nirmala Sitharaman launched a four-year National Monetisation Pipeline (NMP) worth Rs. 6 lakh crores which outlines how the Union Government plans to sell infrastructure assets and raise funds from 2021-22 to 2024-25.
• This pipeline will include only the brownfield assets owned by the Union Government but not include the land assets of the Union Government.
• Assets in the road, rail and electricity sectors will account for more than 66 per cent of the total projected value of the assets to be monetised, with the rest coming from telecom, mining, aviation, ports, natural gas and petroleum product pipelines, warehouses and stadiums.

Union Government launches Yuktdhara portal for geospatial planning

• The Union Government launched a new geospatial planning portal named ‘Yuktdhara’ that aid in the facilitation of new Mahatma Gandhi National Rural Employment Gurantee Act (MGNREGA) assets utilising remote sensing and geographic information system (GIS)–based data.
• This portal was launched by the Union Minister of Rural Development and Panchayati Raj Giriraj Singh.

Union Government launches Amrit Mahotsav App Innovation Challenge 2021 for Indian entrepreneurs and startups

• The Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar launched Amrit Mahotsav App Innovation Challenge 2021 for Indian entrepreneurs and startups.
• This innovation challenge was launched in 16 categories, including culture and heritage, education, news, health, social media, skills, games, agriculture, business and retail, fintech and others.

Vice President of India launches Vaccinate India Programme in Bengaluru

• Indian Vice President M. Venkaiah Naidu launched the Vaccinate India Programme in Bengaluru, which is being organised by the Planning, Program Implementation and Statistics Department, along with the Sustainable Goals Center and the Give India Foundation.
• This programme aims at educating the masses about the necessity to vaccinate and clear misconceptions.

International News

World’s first fossil-free steel was manufactured in Sweden

• Swedish green steel venture HYBRIT had made the world’s first fossil-free steel produced without using coal as it looks to revolutionise an industry that accounts for around 8% of global greenhouse gas emissions.
• Sweden strives to achieve carbon neutrality by 2045 and become one of the world’s first fossil-free welfare nations.

State News

Three cities in Andhra Pradesh were awarded the ‘water plus’ tag

• The Union Ministry of Housing and Urban Affairs awarded three cities in Andhra Pradesh out of nine cities across India with ‘water plus’ tag certification.
• The certified municipal corporations of Andhra Pradesh are Greater Visakhapatnam Municipal Corporation, Vijayawada Municipal Corporation and Tirupati Municipal Corporation.

Andhra Pradesh

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

Telangana Government releases an additional Rs. 500 crores for the implementation of the DalitBandhu Scheme

• The Telangana Government released an additional Rs. 500 crores for the implementation of the pilot project of the ambitious Dalit Bandhu Scheme, bringing the total allocation to Rs. 1000 crores.
• This scheme provides Dalit families with financial support of Rs. 10 lakhs to start self-employment projects.

Telangana               

• Capital: Hyderabad
• Chief Minister: Chandrashekar Rao
• Governor: Tamilisai Soundararajan
• National Parks: KasuBrahmananda Reddy National Park, Mahaveer Harina National Park, Mrugavani National Park

Tambaram and Kancheepuram in Tamil Nadu becomes municipal corporations

• According to an announcement made by the Tamil Nadu Municipal Administration Minister K.N. Nehru, Tambaram, Kancheepuram, Kumbakonam, Karur, Cuddalore, and Sivakasi municipalities would be promoted to municipal corporations

Tamil Nadu                      

• Capital: Chennai
• Chief Minister: M.K. 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

Banking & Economy

RBI Committee suggests a four-tiered structure for Urban Cooperative Banks (UCBs)

• A Committee set up by the Reserve Bank of India (RBI) to look into the functioning of urban cooperative banks (UCB) suggested a four-tiered structure to regulate them based on their size of deposits and prescribed different capital adequacy.
• Deposits up to 100 crores are classified as Tier-1; deposits between Rs. 100 crores to Rs. 1000 crores are classified as Tier-2; deposits between Rs. 1,000 crores to Rs. 10,000 crores are classified as Tier-3 and deposits exceeding Rs. 10,000 crores are classified as Tier-4.

RBI gives “in-principle” approval for Centrum Financial Services Limited (CFSL) to set up a small finance bank

• The Reserve Bank of India (RBI) has given Centrum Financial Services Ltd (CFSL) “in principle” approval to set up a small finance bank (SFB) which will eventually take over Punjab and Maharashtra Co-operative (PMC) Bank.

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: M. 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)

Appointments

Abhay Kumar Singh was named as the Joint Secretary in the Union Ministry of Cooperation

• Abhay Kumar Singh was named as Joint Secretary in the Union Ministry of Cooperation which was recently established to strengthen the cooperative movement in India.

Union Minister of Cooperation: Amit Shah

Arvind Kumar was appointed as the Managing Director of Chennai Petroleum Corporation Limited

• The Executive Director of Indian Oil Corporation Ltd (IOCL) Arvind Kumar was appointed as the Managing Director of Chennai Petroleum Corporation Limited (CPCL) for five years.

RapiPay Fintech appoints Nipun Jain as its Chief Executive Officer

• RapiPay, a fintech company that specialises in assisted payments category, named Nipun Jain as its new Chief Executive Officer (CEO).

Agreements and MoUs signed

Microsoft partners with Invest India to empower tech startups

• Microsoft India has partnered with Invest India to empower tech startups.
• Microsoft technology such as Azure, GitHub and M365 will be available to the startups, allowing them to quickly build and run their businesses.

Science & Technology

IIT Madras develops India’s first indigenous motorised wheelchair vehicle

• Indian Institute of Technology-Madras (IIT-M) had developed India’s first indigenous motorised wheelchair vehicle named ‘NeoBolt’, which can be used not only on roads but even on uneven terrains.
• It has a maximum speed of 25 kmph and travels up to 25 km per charge, powered by a Lithium-Ion Battery.

Books & Authors

Ajitabha Bose launches the biography of Kapil Sharma

• Ajitabha Bose wrote a biography on the life journey of Kapil Sharma. The book’s name is The Kapil Sharma Story and its publisher is Ajitabha Publisher.

Daily CA August 24 One-liner:

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