Daily Current Affairs: December 31, 2021

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National News

Gangtok to Indo–China Border named as Narendra Modi Marg by Sikkim Governor

• Governor of Sikkim Ganga Prasad has named a new road as Narendra Modi Marg. The older route was called Jawaharlal Nehru Road.
• The National Monument at National Highway 310 was built by Border Roads Organisation (BRO). It will be easier for Indian tourists to reach Nathula Border through this road.

Telangana tops in the implementation of the Shyama Prasad Mukherji Rurban Mission

• Telangana stood first in the implementation of the Shyama Prasad Mukherji Rurban Mission (SPMRM) that was launched four years ago to stimulate local economic development, enhance basic services and create well-planned clusters.
• Sangareddy and Kamareddy districts stood in the first two positions among the 300 clusters across India where the programme was being implemented.
• Tamil Nadu and Gujarat took the second and third positions, respectively.

Lulu Group decides to set up ₹500 crore food processing plant in Greater Noida

• Middle East-based retail company Lulu Group has announced the setting-up of its export-oriented food and agriculture-produce processing park in Greater Noida, Uttar Pradesh. This park is planned with an initial investment of ₹500 crores.
• Lulu Group will procure and export an estimated 20,000 tons (annually) of local fruits and vegetables from Uttar Pradesh for the company’s hypermarkets around the world.

Banking and Economy

IRDAI retains LIC, GIC Re and New India as D-SIIs

• Insurance Regulatory and Development Authority of India (IRDAI) retains the state-owned Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re) and New India Assurance (NIA) to be identified as Domestic Systemically Important Insurers (D-SIIs) for 2021–22.
• D-SIIs refer to insurers of such size, market importance and domestic and global interconnectedness whose distress or failure would cause significant dislocation in the domestic financial system.

RBI extends the deadline for periodic KYC update to 31 March 2022

• The Reserve Bank of India (RBI) has extended the last date for Know Your Customer (KYC) updation for bank accounts by three months to 31 March 2022.
• The RBI had relaxed the rules first in May 2020 due to the pandemic and had stated banking services should not be restricted just because the KYC documents have not been updated by the customer.

Acquisitions and Mergers

SBI acquires 9.95% stake in India International Clearing Corporation 

• India’s biggest public sector lender State Bank of India (SBI) has acquired a 9.95 per cent stake in India International Clearing Corporation (IFCC) Limited for a maximum amount of ₹34.03 crores.
• IFCC is the first exchange to be set up at the Gujarat International Finance Tec-City’s International Financial Services Centre (GIFT IFSC). It was inaugurated by Prime Minister Narendra Modi in 2017. ​

Tech Mahindra acquires 100% stake in Allyis India and Green Investments LLC

• IT major Tech Mahindra acquired 100 per cent equity shares in Allyis India Private Limited and Green Investments LLC, the holding company for Allyis Group, respectively.
• Tech Mahindra will pay total consideration of up to $125 million, including employment-related and performance-related earnouts.

Science and Technology

China launches a five-year plan to become a hub of global robotics innovation

• China announced a five-year roadmap to achieve its goal of becoming a global robotics innovation hub by 2025. It aims to achieve this by focusing on enhancements in key areas such as control panels and servomotors.
• China’s Ministry of Industry and Information Technology revealed that the operating income from China’s robotics industry is expected to grow by around 20 per cent per year between 2021 and 2025.

Appointments

Pankaj Sharma was appointed as the next Ambassador of India to Mexico

• Pankaj Sharma was appointed as the next Ambassador of India to Mexico. He is presently working as the Permanent Representative of India to the UN Conference on Disarmament, Geneva. He is a 1991 batch Indian Foreign Service officer (IFS).

ITBP Director-General Sanjay Arora to hold the additional charge of Sashastra Seema Bal

• Indo–Tibetan Border Police (ITBP) Director-General Sanjay Arora will hold the additional charge of Sashastra Seema Bal (SSB). He succeeded Kumar Rajesh Chandra.
• He is a 1988-batch officer of Tamil Nadu cadre. He was appointed the Director-General of ITBP in August 2021 and he took charge of the India–China LAC guarding force on 01 September 2021.

Anupam Ray to be India’s new Permanent Representative at the UN Conference on Disarmament

• Senior diplomat Anupam Ray was appointed as India’s next Permanent Representative to the UN Conference on Disarmament in Geneva. He is a 1994-batch Indian Foreign Service officer (IFS).

Awards and Recognitions

KVASU bags the national award for breed conservation for 2021

• The All India Co-ordinated Research Project (AICRP) on poultry breeding, Mannuthy, under the Kerala Veterinary and Animal Science University (KVASU), bagged the national breed conservation award for 2021.
• This centre received the prestigious award from ICAR-The National Bureau of Animal Genetic Resources (NBAGR) for the conservation and research activities on the Tellicherry breed, the only registered native chicken breed from Kerala.
• This award was established by ICAR-NBAGR for their contribution towards the conservation and improvement of registered Indian breeds of domestic livestock and poultry.

S. Nagabhushan bags the Kendra Sahitya Akademi award

• Literary critic S. Nagabhushan was awarded the Kendra Sahitya Akademi award for 2021 for his work Gandhi Kathana, a biography of Mahatma Gandhi.
• Basu Bevinagidad won the Bal Sahitya Puraskar 2021 for his children’s novel Odi Hoda Huduga and Lakshmi Narayan Swamy was awarded the Sahitya Akademi Yuva Puraskar 2021 for his poetry Togala Cheelada Karna.

Sports News

South African cricketer Quinton de Kock announces retirement from test cricket

• South Africa’s wicketkeeper-batter Quinton de Kock announced his retirement from test cricket after South Africa’s 113-run defeat to India in the first test of the three-match series.
• He scored 3300 runs in 54 matches with the highest score of 141 not out, at an average of 38.82 and a strike rate of 70.93.

Daily CA 31 December one-liner

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