Daily Current Affairs: November 2, 2021

Daily Current Affairs (November 2, 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 – November 2, 2021, now @ our Bankersdaily Tests.

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Important Days

National Ayurveda Day – 2 November

• National Ayurveda Day is celebrated every year on the occasion of Dhanwantari Jayanti (Dhanteras) since 2016. This year (2021), it falls on 2 November to create awareness about the health benefits of Ayurveda and to promote the Ayurvedic lifestyle.
• Theme for 2021: ‘Ayurveda for Poshan’.
• The aim of this day is to highlight Ayurveda’s strengths and unique treatment principles.

National News

Union Government constitutes a 20-member empowered group of secretaries to monitor the development and implementation of PM Gati Shakti National Master Plan (NMP)

• Union Government has constituted an empowered group of secretaries’ (EGoS) led by Cabinet Secretary Rajiv Gauba to track the development and implementation of the government’s ₹100 crore comprehensive and integrated approach to infrastructure construction under PM Gati Shakti National Master Plan (NMP).
• The Empowered Group of Secretaries’ mandate is to assess and monitor the plan’s implementation in order to determine its logistics efficiency and to establish a framework and rules for making any changes to the plan.
• They will also coordinate any revisions to projects currently included in the plan within the required framework and norms, as well as establish a method and a specific time period for the synchronisation of various operations for road and rail construction.

Union Government approves 8.5% interest rate on employees’ provident fund for FY21

• The Union Government has approved 5 per cent rate of interest on employees’ provident fund (EPF) for 2020–21 fiscal (FY21).
• Union Ministry of Finance has approved the EPF interest rate for 2020–21 and it will now be credited to the accounts of nearly five crore users.
• The Employees’ Provident Fund Organisation (EPFO) cut the interest rate on provident fund deposits to 8.5 per cent for 2019–20, down from 8.65 per cent in 2018–19, in March 2020.

‘Vax’ was declared as the Oxford English Dictionary’s Word of the Year 2021

• Oxford English Dictionary has declared ‘vax’ as ‘Word of the Year 2021’, which defines vax as vaccine or vaccination when used as a noun.
• As a verb, vax is defined as ‘vaccinate’ or ‘treat (someone) with a vaccine to produce immunity against a disease’.
• This word seeks to encompass the year in a single word that may describe a globe still recovering from the COVID-19 pandemic and discussing vaccines.
• This word’s origin can be traced back to the early 1800s term anti-vax, which is a shorter form of anti-vaccinist.

Union Education Minister launches the Bhasha Sangam initiative and mobile application for schools

• Union Education and Skill Development Minister Dharmendra Pradhan launched the Bhasha Sangam initiative for schools, Bhasha Sangam mobile application and Ek Bharat Shreshtha Bharat quiz application on the occasion of Rashtriya Ekta Diwas.
• Ek Bharat Shreshtha Bharat quiz application is available in English and Hindi on Google Playstore and aims to enrich the youth of India about Indian culture, religions, traditions, languages and history.
• Bhasha Sangam is a Union Ministry of Education initiative under Ek Bharat Shreshtha Bharat that aims to teach basic phrases in 22 Indian languages.

Narendra Modi launches the ‘Infrastructure for Resilient Island States’ on sidelines of the climate summit in Glasgow

• Prime Minister Narendra Modi launched the ‘Infrastructure for the Resilient Island States’ (IRIS) on the sidelines of the climate summit in Glasgow.
• Its goal is to achieve sustainable development in Small Island Developing States (SIDS) by using a systematic approach to resilient, sustainable and inclusive infrastructure.
• Indian Space Research Organisation will build a special data window for Small Island Developing States to provide them with timely information about cyclones, coral-reef monitoring and coastline monitoring.

Banking & Economy

State Bank of India launches a pre-approved two-wheeler loan ‘SBI Easy Ride’ on the YONO application

• State Bank of India (SBI) has launched a pre-approved two-wheeler loan scheme named ‘SBI Easy Ride’, through its YONO platform in which the eligible customers of SBI can avail end-to-end digital two-wheeler loans through the mobile application without visiting the branch.
• Customers can apply for the easy ride loan for an amount up to ₹3 lakhs at a competitive interest rate of 5% per annum onwards for a maximum tenure of 4 years with the minimum loan amount of ₹20,000.
• The loan will be promptly deposited into the dealer’s account. Under this scheme, the customers can get a loan for up to 85% of the vehicle’s on-road pricing.

State Bank of India (SBI)

• Headquarters: Mumbai, Maharashtra
• Chairman: Dinesh Kumar Khara
• Tagline: “The Banker to Every Indian”

PhonePe launches ‘PhonePe Safecard’ tokenisation solution for online debit and credit card transactions

• PhonePe has launched a tokenisation solution named ‘PhonePe Safecard’ for online debit and credit card transactions.
• PhonePe has joined Visa, RuPay, Razorpay and PayU in introducing tokenisation solutions ahead of the Reserve Bank of India’s (RBI) guidelines for Payment Aggregators (PAs) and Payment Gateways (PGs), which are due to expire on 31 December.
• This solution would allow PhonePe customers and merchant partners to continue to enjoy the convenience of stored card transactions while also improving security and adhering to the new RBI rules. All major card networks, including Mastercard, RuPay and Visa, are supported by this solution.

PhonePe

• Headquarters: Bengaluru, Karnataka
• Chief Executive Officer (CEO): Sameer Nigam

Kerala Financial Corporation (KFC) launches a special loan facility for Micro, Small and Medium Enterprises (MSMEs)

• Kerala Financial Corporation (KFC) has introduced a special loan facility for the Micro, Small and Medium Enterprise (MSME) sector to help them execute work orders and pay off pending bills.
• Under this scheme, 75 per cent of the cost of work received from government departments, agencies and Public Sector Undertakings will be provided as a loan.
• The amount of money owed to you will be determined by the length of time you worked and when you expect to receive payment from the work awarding body. Starting at 8%, the rate of interest will be related to the MSME’s credit rating score.

Appointments

Sharad Sharma was appointed as the Non- executive Director of YES Bank

• YES Bank has appointed Sharad Sharma as its Non-executive Director.
• He was the Managing Director of State Bank of Mysore during the period from August 2012 to April 2016, where he was seconded from State Bank of India (SBI).

Agreements and MoUs signed

Bank of Baroda signs an MoU with NCDEX e Markets Limited to become a clearing bank

• Bank of Baroda has signed a Memorandum of Understanding (MoU) with NCDEX e Markets Ltd (NEML) to become a ‘clearing bank’ for handling financial transactions in the NeML marketplace and procurement/auction platform.
• This tie-up will increase Bank of Baroda’s presence in agri e-commerce through its wide network across India.

Daily CA- 2 November One Liners

Can you score 20/20 in Today’s Current Affairs Quiz? Attempt the Current Affairs Quiz of  November 2, 2021, now from the link given below.