Daily Current Affairs: May 12, 2021

Daily Current Affairs (May 12, 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.

Also, Don’t forget to attend the Daily Current Affairs Quiz – May 12, 2021, now @ our Bankersdaily Tests.

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Important Days

International Nurses Day – 12 May

• International Nurses Day is observed annually on 12 May to mark the contributions that nurses make to society. The day was created by the International Council of Nurses and is celebrated globally since January 1974.
• 2021 Theme: “Nurses: A Voice to Lead – A vision for future healthcare”

National News

‘Miyon ka Bara’ railway station in Jodhpur renamed Mahesh Nagar

• The Miyon ka Bara railway station was renamed Mahesh Nagar in Jodhpur, Rajasthan. Before this, the Ministry of Home Affairs (MHA) had approved and changed the name of the village from Miyon ka Bara to Mahesh Nagar and conveyed the decision to the Rajasthan government in 2018.

Rajasthan                

• Capital: Jaipur
• Chief Minister: Ashok Gehlot
• Governor: Kalraj Mishra

International News

ADB launches Asia Pacific Tax Hub to enhance domestic resource mobilisation and international tax cooperation

• The Asian Development Bank (ADB) launched an ‘Asia Pacific Tax Hub’ to create an open and inclusive platform to promote strategic policy dialogue, improve knowledge sharing, and strengthen coordination on tax policy and administration among ADB, its members, and development partners.
• The hub will maximize regional and international resources to strengthen domestic resource mobilisation (DRM) and international tax cooperation (ITC) in ADB’s developing member countries (DMCs).

Asian Development Bank (ADB)

• Founded: 19 December 1966
• Headquarters: Mandaluyong, Philippines
• President: Masatsugu Asakawa
• Chief Economist: Yasuyuki Sawada

Banking and Economy

Moody’s revises India’s GDP growth forecast to 9.3% for FY22

• Rating agency Moody’s revised India’s gross domestic product (GDP) forecast for FY22 to 3 per cent from the earlier projection of 13.7 per cent.

Nomura revises India’s GDP growth forecast to 10.8% for FY22

• Japanese brokerage Nomura revised India’s GDP growth estimate for the current 2021-22 fiscal to 8 per cent from the earlier 12.6 per cent due to the impact of the second wave-induced lockdowns.

Acquisitions and Mergers

IIT Madras collaborates with MPFI to boost digital money transactions in India

• Indian Institute of Technology (IIT) Madras researchers will collaborate with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions in multiple vernacular languages to enable larger adoption of digital money transactions in India.
• These initiatives are being taken up by MPFI towards bringing 500 million active users by 2025. IIT Madras will also be to provide thought leadership in driving digital payments in India to the next level.

Muthoot Finance ties up with NIRA to offer personal loans

• Muthoot Finance Limited collaborated with fintech NIRA as part of its strategy to strengthen its digital footprint. Under this partnership, salaried customers can avail a personal loan of up to 1 lakh from Muthoot through the NIRA app.
• NIRA is a Bengaluru-based fintech offering small ticket personal loans to salaried workers. They offer loans to borrowers starting at incomes as low as 12,000 per month.

Federal Bank ties up with Mashreq Bank to offer instant money transfers from UAE to India

• Federal Bank has partnered with Mashreq Bank, one of the leading financial institutions in the UAE, to facilitate money transfers from the UAE to India. The partnership will support Mashreq’s faster payment product, Quick Remit, which was launched in 2017.
• Mashreq is one of the oldest banks in the UAE and has a presence in twelve countries across Europe, the US, Asia and Africa.

Federal Bank

• Headquarters: Aluva, Kerala
• MD & CEO: Shyam Srinivasan
• Tagline: “Your Perfect Banking Partner”

Science and Technology

World’s First Artificial Intelligent Ship “Mayflower 400” to navigate across Atlantic Ocean

• A team of researchers from the marine research organisation, ProMare with IBM acting as technology partner built the world’s first intelligent ship known as the Mayflower 400. The ship is set to navigate across Atlantic Ocean.
• The Artificial Intelligent Ship is completely autonomous. It is a 15-m-long trimaran that weighs 9 tons.

Appointments

National Asset Reconstruction Company appoints Padmakumar M Nair as its CEO

• State Bank of India’s Padmakumar Madhavan Nair is set to take charge as the chief of the National Asset Reconstruction Company Limited (NARCL). He is currently serving as the chief general manager (CGM), in charge of stressed assets in SBI.
• National Asset Reconstruction Company Ltd (NARCL) is being set up by banks especially from the public sector to tackle stressed assets.
• NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts.

Ujjwala Singhania takes over as the 38^th National President of FICCI FLO

• Ujjwala Singhania was appointed as the National President of FICCI Ladies Organisation (FLO), the oldest women-led & women-centric business chamber of Southeast Asia. She took over as the 38^th President of FLO at the FLO’s 37^th Annual Session.

Former Senator Bill Nelson Sworn in as the 14^th NASA Administrator

• Former Senator Bill Nelson was sworn in as the 14^th NASA Administrator by Vice President Kamala Harris at the Ceremonial Office in Washington.
• A moon rock collected by astronaut John Young during the Apollo 16 mission was on display and former NASA Administrators Jim Bridenstine and Charles Bolden were also present.

PESB appoints Arun Kumar Singh as next CMD of BPCL

• The Public Enterprises Selection Board (PESB), the government’s head-hunter, has picked Arun Kumar Singh as the chairman and managing director of state-run oil refining and marketing firm Bharat Petroleum Corporation Limited (BPCL).
• He is currently director, marketing at BPCL and holding additional charge of Director, Refineries.

Awards and Recognitions

Indian Renewable Energy Development Agency (IREDA) bags “Green Urja Award”

• Indian Renewable Energy Development Agency Limited (IREDA) has been conferred with the “Green Urja Award” for being the Leading Public Institution in Financing Institution for Renewable Energy 2021 by the Indian Chamber of Commerce (ICC).
• The award was received by Chairman & Managing Director (CMD) of IREDA, Pradip Kumar Das in a virtual ceremony.

Books and Authors

A new book titled “Life in the Clock Tower Valley” was authored by Shakoor Rather

• A new book titled “Life in the Clock Tower Valley” was authored by the Press Trust of India journalist Shakoor Rather. The book was published by Speaking Tiger.

Obituary

Kerala’s veteran politician KR Gouri Amma passed away at 102

• Veteran politician KR Gouri Amma passed away at the age of 102 in Thiruvananthapuram. She was the second longest-serving MLAs of the state. She was the first Revenue Minister in the first communist ministry of the state in 1957.

Malayalam screenwriter-actor Madampu Kunjukuttan passed away at 81

• Malayalam screenwriter-actor Madampu Kunjukuttan passed away at the age of 81. He won the National Award for the Best Scriptwriter for the film Karunam directed by Jayaraj, in 2000.
• He also wrote scripts for movies like Makalkku, Gourishankaram, Saphalam, Karunam and Deshadanam.

Assamese writer and Sahitya Akademi awardee Homen Borgohain passed away at 88

• Assamese writer, journalist and Sahitya Akademi awardee, Homen Borgohain passed away in Guwahati. He was the president of Asam Sahitya Sabha and the chief editor of the Assamese daily Niyomiya Barta.
• He was associated with several newspapers, was awarded Sahitya Akademi Award in 1978 for the Assamese language for his novel ‘Pita Putra’.

May 12 CA One-liner: