Daily Current Affairs: August 27, 2021

Daily Current Affairs (August 27, 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

Union Labour Ministry launches a national database on unorganised workers named e-Shram portal in New Delhi                                                 

• Union Labour and Employment Minister Bhupendra Yadav launched the e-Shram portal in New Delhi. This portal is a national database on unorganised workers.
• This portal will keep track of workers in the unorganised sector and make it easier to implement various social security schemes that would benefit them.
• Every unorganised worker who registers on this platform would be covered by an accident insurance policy worth Rs. 2 lakhs in case of death or permanent disability and Rs. 1 lakh in case of partial disability.

NITI Aayog releases the North Eastern Region District Sustainable Development Goals (SDGs) Index and Dashboard 2021-2022

• NITI Aayog, in collaboration with the Union Ministry of Development of North Eastern Region (DoNER) released the first edition of the North Eastern Region District Sustainable Development Goals (SDGs) Index and Dashboard 2021–22.

• This index offers insights into the social, economic and environmental status of the north eastern region and its districts in their march towards achieving the SDGs.
• East Sikkim was ranked first in the region, followed by Gomati and North Tripura in the second position.

Union Finance Minister Nirmala Sitharaman chaired the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG)                                     

• The second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) was virtually hosted by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman with Reserve Bank of India Governor Shaktikanta Das under the Indian BRICS Chairship.

• This meeting was scheduled to discuss and finalise key outcomes of the BRICS finance agenda for 2021.

NCDEX launches India’s first agri commodities sectoral index ‘GUAREX’ 

• India’s first sectoral index within the agri commodities basket named as GUAREX was launched by the National Commodity and Derivatives Exchange Limited (NCDEX).
• NCDEX GUAREX is a price-based index tracking the price movement in the futures contracts of its underlying, i.e. Guar Seed and Guar Gum Refined Splits on a real-time basis.

NCDEX:

• Headquarters: Mumbai
• CEO: Vijay Kumar Venkataraman
• Founded: 15 December 2003

India was elected to the Council of Administration at the 27^th UPU Congress in Ivory Coast 

• India was elected to the Council of Administration (CA) at the 27^th Universal Postal Union (UPU) Congress in Abidjan, Ivory Coast.
• India was also elected with 106 votes out of 156 countries to the Postal Operations Council (POC) at the 27^th UPU Congress in Abidjan.

Ivory Coast (Côte d’Ivoire):

• Capital: Yamoussoukro (Administrative Capital), Abidjan (Economic Capital)
• Currency: West African CFA franc
• Prime Minister: Patrick Achi
• President: Alassane Ouattara

State News

Uttar Pradesh Government is set to build first handicrafts park in UP

• The Uttar Pradesh Government led by Chief Minister Yogi Adityanath, is constructing Uttar Pradesh’s first handicrafts park in Sector 29 of Yamuna Expressway Industrial Development Authority (YEIDA).
• This park near Jewar airport will feature handicrafts from all over India and soon become the most prominent place for artisans and craftsmen.

Uttar Pradesh            

• Capital: Lucknow
• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel

Punjab Government launches the ‘Mera Kaam Mera Maan’ Scheme to help unemployed youth                                        

• The Punjab Cabinet, chaired by Punjab Chief Minister Captain Amarinder Singh, approved a new innovative initiative known as ‘Mera Kaam Mera Maan’ (MKMM) to help unemployed youth improve their skills and employability in their chosen field.
• This scheme provides an employment assistance allowance of Rs. 2500 per month for a period of 12 months from the start of the training course under the short-term skill training programmes in the Punjab Skill Development Mission training centres.

Punjab                         

• Capital: Chandigarh
• Chief Minister: Captain Amarinder Singh
• Governor: P. Singh Badnore

 New Delhi ranks first among the most surveilled cities

• According to the Forbes India report, New Delhi ranks first among the most surveilled cities in the world with 1,826.6 cameras per square mile, while Chennai which has 609.9 cameras per square miles ranks third in the world. London ranks second and Mumbai ranks 18.

New Delhi

• Chief Minister: Arvind Kejriwal
• Governor: Anil Baijal

Banking & Economy

RBI permits card-tokenisation services to make card transactions safer                          

• In order to make card transactions more safe, secure and convenient for customers, the Reserve Bank of India (RBI) allowed authorised card networks to offer card tokenisation services to any token requestor.
• RBI decided to extend the scope of tokenisation to include consumer devices – laptops, desktops, wearables (wristwatches, bands, etc.) and Internet of Things (IoT) devices.

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)

Tamil Nadu Government received the first approval from SIDBI under SCDF

• The Tamil Nadu Government has received the first approval under the SIDBI Cluster Growth Fund (SCDF) from the Small Industries Development Bank of India (SIDBI) to upgrade various existing MSME clusters and to develop new industrial infrastructural facilities in Tamil Nadu.

Small Industries Development Bank of India (SIDBI)

• Headquarters: Lucknow, Uttar Pradesh
• Chairman & Managing Director (CMD): Sivasubramanian  Ramann

BharatPe launches ‘12% Club’ app                       

• BharatPe is expanding its consumer services portfolio by entering the peer-to-peer (P2P) lending market with the launch of its product ‘12% Club’ app to allow its customers to earn 12% on their investments as well as borrow funds at 12% interest.
• Consumers on the 12% Club app can invest their savings anytime by choosing to lend money through BharatPe’s partner P2P NBFCs and also can avail collateral-free loans of up to Rs. 10 lakhs for a tenure of 3 months as per their convenience.

BharatPe:

• Headquarters: New Delhi
• Founded: 1 April 2018

 Appointments

Reserve Bank of India appoints Ajay Kumar as its Executive Director

• The Reserve Bank of India appointed Ajay Kumar as its Executive Director.

• He was the Regional Director of the RBI’s New Delhi Regional Office before being promoted as Executive Director. The Reserve Bank of India now has 13 Executive Directors.

Union Health Minister takes charge as Chairman of the Stop TB Partnership Board                               

• Union Health Minister Mansukh Mandaviya took charge as the Chairperson of the Stop TB Partnership Board until 2024.
• He will lead the Stop TB Partnership Secretariat, partners and the community in achieving the TB target by 2022 with the effort of eliminating tuberculosis by 2030.

Carol Furtado was appointed as an Officer on Special Duty of the Ujjivan Small Finance Bank                     

• Ujjivan Small Finance Bank appointed Carol Furtado as an Officer on Special Duty (OSD) of the bank after the resignation of Nitin Chugh.
• After Nitin Chugh vacates office on 30 September 2021, Carol Furtado will take charge as the interim CEO, subject to RBI approval.

Ujjivan Small Finance Bank

• Headquarters: Bangalore

Sonu Sood becomes the brand ambassador for ‘Desh Ke Mentor’ initiative              

• Actor Sonu Sood will serve as the brand ambassador for the Delhi Government’s ‘Desh Ke Mentor’ programme, which will help youngsters make professional decisions.
• Sonu Sood shared his journey of setting up an online job portal ‘Pravasi Rojagar’ that offered jobs to migrant labourers.

Awards and Recognitions

Union Finance Minister unveils the 4^th edition of the Public Sector Bank (PSBs) Reforms Agenda – EASE 4.0

• Union Minister of Finance and Corporate Affairs Nirmala Sitharaman unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 in Mumbai.
• She announced the best-performing banks on the EASE 3.0 Banking Reforms Index.

EASE 3.0 Index Awards

• The top 3 banks in the EASE 3.0 Index are:

1. State Bank of India
2. Bank of Baroda
3. Union Bank of India

• The top 3 banks in improvement from March baseline are:

1. Indian Bank
2. Union Bank of India
3. Punjab National Bank

• Theme based

Key Initiatives of EASE 4.0:

• Smart lending
• Dial-a-loan
• Credit@click
• 24×7 banking with resilient technology
• Process automation
• Cloud-based IT systems
• Data-enabled agricultural financing
• Co-lending with NBFCs
• Doorstep banking services

Books & Authors

K. J. Alphons releases his new book titled ‘Accelerating India: 7 Years of Modi Government’

• Former Union Minister K. J. Alphons presented his book titled ‘Accelerating India: 7 Years of Modi Government’ to Prime Minister Narendra Modi.

Daily CA- August 27 One liner:

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