Daily Current Affairs: March 11, 2021

Daily Current Affairs (March 11, 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

‘Herath’ festival celebrated in Jammu and Kashmir

• Mahashivratri festival, locally known as Herath in Kashmir, was celebrated across Jammu and Kashmir by the Kashmiri Pandit community with religious fervour by offering “Watak Nath Pooja”.
• The festival assumes colossal importance among the Kashmiri Pandit community, who celebrate it to mark the wedding of “Lord Shiva with Goddess Parvati.”

Jammu and Kashmir

• Summer capital: Srinagar
• Winter capital: Jammu

India-Uzbekistan joint military exercise DUSTLIK II commenced in Ranikhet

• India and Uzbekistan joint military exercise DUSTLIK II commenced in Ranikhet, Uttarakhand. This is the second edition of the annual bilateral joint exercise of both armies. The first edition of the exercise was held in Uzbekistan in November 2019.
• 45 soldiers each from Uzbekistan and the Indian Army participated in the exercise. Both contingents shared their expertise and skills in the field of counter-terrorism operations in mountainous, rural or urban scenarios under UN mandate.

Uzbekistan

• Capital: Tashkent
• Currency: Som

Appointments

 Tirath Singh Rawat was sworn in as the new Chief Minister of Uttarakhand

• Tirath Singh Rawat was sworn in as the new Chief Minister of Uttarakhand after the resignation of Trivendra Singh Rawat.
• Tirath Singh Rawat was the first Education Minister of the newly formed state Uttarakhand.

Uttarakhand

• Chief Minister: Tirath Singh Rawat
• Governor: Baby Rani Maurya
• Summer capital: Gairsain
• Winter capital: Dehradun

Anurag Thakur was promoted as Captain in the Territorial Army

• Minister of State for Finance and Corporate Affairs, Anurag Thakur became the first serving MP to be appointed as Captain in the Territorial Army. He was commissioned into the Territorial Army as a Lieutenant by then Chief of Army Staff (COAS) General Dalbir S Suhag in July 2016.
• The Territorial Army is part of the Indian Army and is manned by officers and men who are embodied for training for two months in a year. Their actual role is during national emergencies, war and in support of the Army when they relieve the regular army for operations.

GP Samanta was appointed as the new Chief Statistician of India

• GP Samanta replaced Kshatrapati Shivaji, who was holding the additional charge of CSI since September 2020 after the post fell vacant.
• He will also hold charge as the Secretary of the Ministry of Statistics and Programme Implementation. Samanta was a recipient of the prestigious Prof. PC Mahalanobis Award for the year 2006 for outstanding contribution to quantitative economics.

International News

Thomas Bach was re-elected as the President of the International Olympic Committee until 2025

• Thomas Bach was re-elected as President of the International Olympic Committee for a final four-year term. The German lawyer was unopposed and won the vote 93-1, with four members abstaining.

International Olympic Committee

• Founded: 23 June 1894
• Headquarters: Lausanne, Switzerland

Banking and Economy

RBI removed IDBI Bank from the PCA framework

• The RBI removed IDBI Bank from its enhanced regulatory supervision or Prompt Corrective Action (PCA) framework after a gap of nearly four years on improved financial performance.
• RBI had placed IDBI Bank under the PCA framework in May 2017, after it had breached the thresholds for capital adequacy, asset quality (net NPAs was over 13 percent in March 2017), return on assets (ROA), and the leverage ratio.

IDBI

• Founded: 1 July 1964
• Headquarters: Mumbai
• Chairman: MR Kumar
• Tagline: Bank Aisa Dost Jaisa

Axis Bank launched contactless payment wearable devices

• Axis Bank had launched a range of wearable contactless payment devices under the brand ‘Wear ‘N’ Pay’. These devices come in the form of a band, key chain, and watch loop and are available at a fee point of 750.
• Customers can wave it at a Point of Sale (PoS) machine for transactions up to 5,000, beyond which a PIN is required to complete the transaction.

Axis Bank

• Founded: 1993
• Headquarters: Mumbai
• Chairman: Amitabh Chaudhry
• Tagline: Badhti Ka Naam Zindagi

SBI topped the Union Ministry of Electronics and Information Technology’s (MeitY) Digital Payment Scorecard

• State Bank of India had topped the list of the Union Ministry of Electronics & Information Technology’s (MeitY) Digital Payment Scorecard for 3 consecutive months.
• The scorecard tracks commercial banks’ performance on various digital parameters. SBI remained the top remitter bank by recording the highest UPI transaction volume of nearly 64 crores having a user base of 5 crores.

State Bank of India

• Founded: 1 July 1955
• Headquarters: Mumbai
• Chairman: Dinesh Kumar Khara
• Tagline: The banker to every Indian

Karur Vysya Bank partnered with Cholamandalam Investment for co-lending business

• Karur Vysya Bank and Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of the Murugappa Group, jointly announced that they have successfully launched Co-lending business in
• Co-lending business will significantly help Chola and Karur Vysya Bank to expand their reach to new customer segments across the country where Chola has a stronger presence to target high value loan segments such as construction equipment and commercial vehicles.

Karur Vysya Bank

• Founded: 1916
• Head Quarter: Karur, Tamil Nadu
• Chairman: NS Srinath
• Tagline: Smart way to bank

CRISIL predicted India’s GDP to grow at 11% in FY22

• CRISIL projected the Indian economy to grow at 11% in fiscal 2022, after an estimated 8% contraction this fiscal due to the impact of the COVID-19 pandemic. 

Obituary News

Ivory Coast Prime Minister Hamed Bakayoko passed away at 56

• Hamed Bakayoko, the Prime Minister of Ivory Coast, who was receiving treatment for cancer passed away at 56. He was appointed as the Prime Minister of Ivory Coast in July, following the sudden death of his predecessor Amadou Gon Coulibaly.

Ivory Coast:

• Capital: Yamoussoukro
• Currency: West African CFA Franc

Awards and Recognitions

Indian Council of Agricultural Research won the King Bhumibol World Soil Day 2020 Award

• Ambassador of India to Thailand Suchitra Durai received the prestigious King Bhumibol World Soil Day 2020 Award of Food and Agriculture Organization (FAO) on behalf of the Indian Council of Agricultural Research (ICAR).

Food and Agriculture Organization:

• Headquarters: Rome
• Founded: 1945

Books and Authors

‘Kunal Kapur in the Kitchen’ book written by Chef Kunal Kapur to be released

• “Kunal Kapur In The Kitchen” written by Chef Kunal Kapur, published by Om Books International, is slated to be released on 15 March.
• The book will offer recipes replete with memories of dining table conversations from Kapur’s childhood and layered with the aromas from his grandfather’s kitchen.

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Daily Current Affairs Quiz – March 11, 2021