Daily Current Affairs: October 19, 2021

Daily Current Affairs (October 19, 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

UIDAI is set to host the ‘Aadhaar Hackathon 2021’ from 28–31 October 2021                                            

• The Unique Identification Authority of India (UIDAI) is planning to organise a hackathon called the ‘Aadhaar Hackathon 2021’ from 28–31 October 2021, which is aimed at young innovators who are still in school and want to go into the real world.
• The Aadhaar Hackathon 2021 is based on the two themes:
  • The first theme is around ‘Enrolment and Update’, which essentially covers some of the real-life challenges being faced by the residents while updating their address in their Aadhaar.
  • The second theme of the hackathon is around the ‘Identity and Authentication’ solution offered by UIDAI.

Unique Identification Authority of India (UIDAI)

• Headquarters: New Delhi
• Founded: 28 January 2009

NITI Aayog collaborates with ISRO and launches Geographic Information System (GIS) based ‘energy map of India’

• Government think tank NITI Aayog, in collaboration with the Indian Space Research Organisation (ISRO), launched the Geographic Information System (GIS) based ‘energy map of India’.
• This GIS map provides a holistic picture of all energy resources such as conventional power plants, oil and gas wells, petroleum refineries, coal fields and coal blocks through 27 thematic layers.
• This map aims to identify and locate all primary and secondary energy sources, as well as associated transportation/transmission networks to provide a full view of energy production and distribution in India.

Indian Space Research Organisation (ISRO)

• Headquarters: Bengaluru
• Founder: Vikram Sarabhai
• Director: Kailasavadivoo Sivan

State News

Union Government renames Mount Harriet in Andaman and Nicobar Islands as Mount Manipur

• Union Government renamed Mount Harriet at Kalapani in Andaman and Nicobar Islands as ‘Mount Manipur’ to honour Manipur’s Maharaja Kulchandra Dhwaj Singh and 22 other freedom fighters’ imprisonment.

International News

Sri Lanka seeks a credit line of $500 million from India for fuel purchases

• Sri Lanka has requested for a $500 million in the form of a credit line from India to pay for its crude oil purchases under the Indo–Sri Lanka Economic Partnership Agreement amid a severe fuel crisis.
• The price of crude oil on the international market has soared to a three-year high of $84 per barrel. Sri Lanka has been affected particularly hard by the spike in crude oil prices.
• Ceylon Petroleum Corporation owes two of Sri Lanka’s largest banks, Bank of Ceylon and People’s Bank, more than $3.3 billion.

Sri Lanka

• Capital: Sri Jayawardenepura Kotte
• Currency: Sri Lankan Rupee
• Prime Minister: Mahinda Rajapaksa
• President: Gotabaya Rajapaksa

India and the United Kingdom hold inaugural maritime dialogue virtually to discuss co-operation in the Indo–Pacific                         

• India and the United Kingdom held their inaugural maritime dialogue virtually as agreed in the India–UK Roadmap 2030 for future relations to discuss co-operation in Indo–Pacific and regional/multilateral co-operation.

United Kingdom

• Capital: London
• Currency: Pound Sterling
• Prime Minister: Boris Johnson

Banking & Economy

Reserve Bank of India (RBI) imposes a monetary penalty Rs. 1 crore on the State Bank of India (SBI) and Rs. 1.95 crores on Standard Chartered Bank                                                

• The Reserve Bank of India (RBI) imposed a monetary penalty of 1 crore on the State Bank of India (SBI) for violating rules related to (Frauds classification and reporting by commercial banks and select Financial Institutions) Directions 2016 and reporting by commercial banks and financial institutions.
• RBI also imposed a fine of 1.95 crores on Standard Chartered Bank for being non-compliant with the RBI’s directions concerning cyber security, credit card and electronic banking operations.

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: 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)

IndiaFirst Life Insurance introduces an endowment plan named ‘Saral Bachat Bima’                                        

• IndiaFirst Life Insurance Company Limited has introduced IndiaFirst Life Saral Bachat Bima plan to provide savings and protection cover for entire families for future needs.
• This non-linked, non-participating, individual limited premium insurance offers a five- or seven-year pay commitment to protect entire families for 12–15 years.
• IndiaFirst Life Insurance is promoted by the Bank of Baroda and Union Bank of India.

Moody’s upgrades Indian banking system’s outlook to stable from negative                                              

• Moody’s Investor Services has changed the outlook of the Indian banking system from negative to stable on the back of stabilising asset quality and improved capital.
• Moody’s expects India’s economy to continue to recover in the next 12–18 months, with the GDP growing 3 per cent in the fiscal year ending March 2022.

Moody’s Investor Services

• Headquarters: New York, United States

Appointments

A. Balasubramanian was elected as the Chairman of the Association of Mutual Funds (AMFI) in India                                    

• The Chief Executive Officer of Aditya Birla Sun Life Asset Management A. Balasubramanian was elected as the Chairman of the Association of Mutual Funds (AMFI) in India.
• He succeeded Nilesh Shah.
• The Managing Director and Chief Executive Officer of Edelweiss Asset Management Company Radhika Gupta was elected as the Vice-chairperson of AMFI.
• Balasubramanian has earlier served as the AMFI Chairman for the period 2017–2019.

Association of Mutual Funds in India (AMFI)

• Headquarters: Mumbai
• Formed: 1995
• Regulator: Securities and Exchange Board of India (SEBI)

Awards and Recognitions

Indian Army team wins the gold medal at Cambrian Patrol exercise at the Wales in the United Kingdom

• The Indian Army team won a gold medal at the Cambrian Patrol exercise held in the Brecon, Wales, the UK. It competed against 96 teams representing special forces and regiments from around the world.
• This exercise is considered the ultimate test of human endurance, team spirit and is sometimes referred to as the Olympics of Military Patrolling among militaries in the world.

Vidyut Mohan’s project named Takachar wins Prince William’s Earthshot Prize                                              

• Delhi-based Vidyut Mohan’s Project titled ‘Takachar’ was named among the winner of the 1 million pound sterling worth Prince William’s Earthshot Prize in London for its cheap, small-scale and portable technology innovation to convert crop residues into sellable bio-products in the clean air category.
• This technology reduces smoke emissions by up to 98 per cent, is targeted at improving air quality, which currently reduces the life expectancy of the afflicted population by up to five years.

Agreements and MoUs Signed

PhonePe partners with NPCI Bharat BillPay Limited (NBBL) and launches ClickPay for easy bill payments

• PhonePe has partnered with the National Payments Corporation of India’s (NPCI) Bharat Bill Pay Limited (NBBL) to launch ClickPay for its customers, which enables them to make recurring online bill payments for electricity, gas, loan repayments and water bills.
• The ClickPay feature will assist in increasing the share of digital transactions in the ecosystem by reducing errors caused due to manual inputs required for online bill payments.

PhonePe

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

Jammu and Kashmir Government signs an MoU with Dubai Government to develop real estate and industrial parks

• The Jammu and Kashmir Government has signed a Memorandum of Understanding (MoU) with Dubai for real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical college and super-speciality hospitals.
• This move would lead to import-export, food processing, health care and other businesses to flourish in Jammu & Kashmir.

Books and Authors

Rajnath Singh releases the book titled ‘Veer Savarkar: The Man Who Could Have Prevented Partition’                               

• Union Defence Minister Rajnath Singh has released the book ‘Veer Savarkar: The Man Who Could Have Prevented Partition’ authored by Uday Mahurkar.
• The publisher of this book is Rupa Publications India.
• This book explains the life of Sarvakar and will clear out rumours about his life.

Obituary

Former US Secretary Colin Powell passed away                                

• Former US Secretary of State Colin Powell has passed away at the age of 84 due to COVID-19 complications.
• He was a veteran of the Vietnam War and spent 35 years in the Army and rose to the rank of four-star general before becoming the first Black Chairman of the Joint Chiefs of Staff.

Daily CA- 19 October One Liners

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