Daily Current Affairs: September 30, 2021

Daily Current Affairs (September 30, 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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Important Days

International Translation Day – 30 September

• International Translation Day is observed on 30 September to increase awareness about the translation industry and various languages that play an essential part in society’s growth.
• Theme for 2021:‘United in translation’.

World Maritime Day – 30 September

• The International Maritime Organization (IMO) observes World Maritime Day on 30 September every year to celebrate the contribution of maritime towards the global economy.
• The Theme for 2021: ‘Seafarers: at the core of shipping’s future’.

National News

Union Finance Ministry extends the timeline of the Emergency Credit Line Guarantee Scheme till 31 March 2022

• Union Finance Ministry has extended the timeline of the Emergency Credit Line Guarantee Scheme (ECLGS)to another six months till 31 March 2022 or till guarantees for an amount of Rs. 4.5 lakh crores are issued under the scheme to support Micro, Small and Medium Enterprises (MSMEs) impacted by the second wave of the COVID-19 pandemic.
• The last date of disbursement under this scheme has also been extended to 30 June 2022.

Union Government approves a capital infusion of Rs. 4400 crores into ECGC to boost the export sector

• The Union Government has approved a capital infusion investment of 4400 crores in ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Limited) in five years to provide support to exporters as well as banks.
• The capital infusion and planned initial public offering (IPO) will increase ECGC’s underwriting capacity up to 88,000 crores and propel additional exports of Rs. 5.28 lakh crores over five years from FY 2021–2022 to FY 2025–2026.

Prime Minister Narendra Modi chairs the 38^th PRAGATI meeting

• Prime Minister Narendra Modi chaired the 38^th meeting of the ICT -based multi-modal platform for Pro-Active Governance and Timely Implementation (PRAGATI)and reviewed eight projects worth around 50,000 crores in seven states,namely Odisha, Andhra Pradesh, Bihar, Jharkhand, Madhya Pradesh, Maharashtra and Haryana.
• Four of the projects were from the Union Ministry of Railways, two from the Union Ministry of Power and one each from the Union Ministry of Road Transport and Highways and the Union Ministry of Civil Aviation.

International News

India and the United States sign two MoUs for cooperation in health and biomedical sciences in the 4^th Indo–US Health Dialogue

• India and the United States signed two MoUs at the 4^th Indo–US Health Dialogue addressed by the Union Health and Family Welfare Minister Mansukh Mandaviya for cooperation in health and biomedical sciences hosted by India in New Delhi.
• The first MoU was signed concerning cooperation in the field of health and biomedical sciences.
• The other MoU was signed for cooperation with International Centre for Excellence in Research (ICER).

Banking & Economy

RBI removes Indian Overseas Bank from the PCA framework

• The Reserve Bank of India (RBI) has removed Indian Overseas Bank from the PCA (Prompt Corrective Action)restrictions framework subject to certain conditions and continuous monitoring from which the performance of the Indian Overseas Bank was reviewed by the Board for Financial Supervision.
• The Indian Overseas Bank was put under the PCA framework in 2015.

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: K. Jain, M. D. Patra, M. RajeshwarRao and T. RabiSankar
• Subsidiaries: Deposit Insurance and Credit Guarantee Corporation (DICGC), Bharatiya Reserve Bank Note Mudran (BRBNM)

Indian Overseas Bank

• Headquarters: Chennai
• MD & CEO: Partha Pratim Sengupta

AU Small Finance Bank signs a pact with NABARD to boost rural development projects in Rajasthan

• AU Small Finance Bank has signed a Memorandum of Understanding (MoU) with the National Bank for Agriculture and Rural Development (NABARD) to boost ongoing rural developmental initiatives in Rajasthan.
• It is a joint initiative to benefit farmers, farmer producer organisations(FPOs), self help groups(SHGs), rural artisans, agri-entrepreneurs and agri-startups in Rajasthan.
• This collaboration is a significant step towards empowering the rural segments with easy access to credit and will provide institutional credit support to the ongoing development schemes in Rajasthan.

National Bank for Agriculture and Rural Development (NABARD)

• Headquarters: Mumbai, Maharashtra
• Formation: 12July 1982
• Chairman: GovindaRajulu Chintala

AU Small Finance Bank

• Headquarters: Jaipur, Rajasthan
• MD & CEO: Sanjay Agarwal

SEBI introduces a swing pricing mechanism for debt mutual funds

• Securities and Exchange Board of India (SEBI)introduced the concept of ‘swing pricing’ for all open-ended debt mutual fund schemes except overnight funds, gilt funds and Gilt with 10-year maturity funds.
• This framework is aimed at discouraging large investors from sudden redemptions,which will be applicable from 1 March 2022.

Swing Pricing Mechanism

• It is like a manual adjustment made to a mutual fund’s net asset value (NAV).
• Its objective is to pass on any additional transaction costs arising from large inflow or outflow to large investors.

Securities and Exchange Board of India (SEBI)

• Headquarters:Mumbai, Maharashtra
• Chairman: Ajay Tyagi
• Founded:12 April 1992

S&P Global Ratings maintains India’s GDP growth forecast for FY22 at 9.5%

• S&P Global Ratings maintained its FY22 GDP growth forecast for India at 5%,stating that there were indications of a strong rebound in economic activity in India after the second wave of the COVID-19pandemic.

S&P Global Ratings

• Headquarters: New York, The United States

Appointments

Fumio Kishida is set to become the next Prime Minister of Japan

• Japan’s former Foreign Minister,Fumio Kishida,has won the governing party leadership election and is set to be the next Prime Minister of Japan.
• He will replace Yoshihide Suga.

Japan

• Capital:Tokyo
• Currency: JapaneseYen

Padmaja Chunduru was appointed as the Managing Director and CEO of the National Securities Depository Limited (NSDL)

• Former MD & CEO of Indian Bank Padmaja Chunduru was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of the National Securities Depositories Limited (NSDL).
• She will succeed G. V. Nageswara Rao.

Ranveer Singh was appointed as the brand ambassador of the National Basketball Association (NBA) of India

• The National Basketball Association (NBA)appointed Bollywood actor Ranveer Singh as its brand ambassador for India to assist in developing the basketball league profile in India all through its landmark of 75^th anniversary season in 2021–22.

Agreements and MoUs signed

Life Insurance Corporation of India (LIC)ties up with the Department of Posts for print to post solution

• Life Insurance Corporation of India (LIC)tied up with the Government of India’s Department of Posts (DoP) for‘Print to Post’ solutions to print and dispatch the policy booklet issued under a life insurance policy.
• This collaboration would provide the much-needed fillip in the issue of policy documents with a reduced turnaround time to enhance customer experience.
• “Delivery on the day of receipt” is the working theme of India Post.

Life Insurance Corporation of India (LIC)

• Headquarters: Mumbai, Maharashtra
• Founded: 1 September 1956
• Chairman: R.Kumar
• Managing Director:Mini Ipe

Awards and Recognitions

Assam scientist Binoy Kumar Saikia bagsthe Shanti Swarup Bhatnagar Prize for Science and Technology 2021

• A scientist from Assam Binoy Kumar Saikia has bagged the prestigious Shanti Swarup Bhatnagar Prize for Science and Technology 2021 by the Council of Scientific and Industrial Research (CSIR)for his pioneering research on coal and energy.
• The Shanti Swarup Bhatnagar Award is given every year for outstanding contributions to science and technology.

Right Livelihood Award for 2021 was announced

• India’s Delhi-based environmental organisation Legal Initiative for Forest and Environment (LIFE) has received the Right Livelihood Award 2021,which is also known as ‘Alternative Nobel’ for empowering vulnerable communities to protect their livelihoods and claim their right to a clean environment.
• Other awardees of 2021 are the women rights activist Marthe Wandou from Cameroon, Russian environmental activist Vladimir Slivyak and an indigenous rights defender Freda Huson from Canada.

Books and Authors

Wole Soyinka released a new book titled ‘Chronicles from the Land of the Happiest People on Earth’

• A new novel ‘Chronicles from the Land of the Happiest People on Earth’authored by Africa’s first Nobel laureate in Literature,Wole Soyinka,released after almost 50 years.
• The publisher of the book is Bloomsbury India.

Daily CA- 30 September One Liners

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