Latest Current Affairs For Friday 19th November, 2021

Akasa Air inks pact with CFM for LEAP-1B engines

Rakesh Jhunjhunwala backed-Akasa Air announced the purchase of CFM LEAP-1B engines to power its recently purchased Boeing 737 MAX airplanes.

The agreement, that also includes spare engines and long-term services agreement, is valued at nearly $4.5 billion at list price.

Akasa had ordered 72 Boeing 737 MAX airplanes valued at nearly $9 billion at list price.

The LEAP-1B engine entered into service on the Boeing 737 MAX in 2017.

CEO, Akasa Air: Vinay Dube

India, New Zealand to intensify cooperation in cyber security, cyber crime

India and New Zealand have decided to intensify cooperation in cyber security, cyber crime and capacity building at the bilateral Cyber Dialogue.

The2nd edition of the India-New Zealand Bilateral Cyber Dialogue was held on a virtual mode.

The Indian delegation was led by MEA Joint Secretary Atul Malhari Gotsurve.

The delegations deliberated on a wide range of topics of mutual interest and agreed to work closely with each other in these areas. 

BDL signs $21-million contract with Airbus Defense & Space

Bharat Dynamics Limited (BDL) has signed a $21-million export contract for Counter Measures Dispensing System (CMDS) with Airbus Defense & Space.

Under the Contract, BDL will supply its Counter Measures Dispensing System to the Spanish entity.

The public sector firm is looking at export opportunities for offerings such as Akash Weapon System, Astra Weapon System, Smart Anti-Airfield Weapon and Helina and Light Weight Torpedo and Heavy Weight Torpedo.

India received $87 billion in remittances in 2021: World Bank

According to World Bank data India received $87 billion in remittances in 2021

United States was the biggest source, accounting for over 20 per cent of these funds.

India becomes the world's largest recipient of remittances with a gain of 4.6 per cent.

India is followed by China, Mexico, the Philippines, and Egypt.

In India, remittances are projected to grow three per cent in 2022 to $89.6 billion. 

SIDBI, Google tie-up for loan programme targeted at micro enterprises

SIDBI has entered into a collaboration with Google for having a social impact lending programme.

The program entails financial assistance up to ₹1 crore at competitive interest rates targeted at micro- enterprises.

The collaboration brings a corpus of $15 million to micro-enterprises. 

This envisages a loan program targeted at micro enterprises (having turnover up to ₹5 crore), with loan sizes ranging between ₹25 lakh to ₹1 crore, being implemented by SIDBI.

NSDL e-Governance gets RBI’s in-principle nod as Account Aggregator

NSDL e-Governance Infrastructure got in-principle approval from RBI to set up an account aggregator business under its subsidiary, NSDL e-Governance Account Aggregator.

Account Aggregator is a first-of-its-kind consent framework that empowers an individual with control over his or her data.

Aggregator services can play a pivotal role as a core contributor to a data-led economic empowerment and inclusion at scale.

Indian Railways gets first pod hotel at Mumbai Central station

Union minister of state for Railways Raosaheb Danve inaugurated first-of-its-kind pod hotel at the Mumbai Central station.

The pod hotel has several small bed-sized capsules and provides affordable overnight accommodation.

Charges: Rs 999 for 12 hours and Rs 1,999 for 24 hours.

Facilities: WiFi, TV, a small locker, adjustable mirror, and reading lights. 

These resting facilities can be availed by Passengers of Indian Railways and even common people.

MoFPI signs MoU with DAHD to improve livestock sector

The Department of Animal husbandry and Dairying has signed an MoU with Ministry of Food Processing Industry.

This MoU will facilitate extension of benefits to dairy entrepreneurs and dairy industries through convergence of various schemes of Department of Animal Husbandry and Dairying.

This will also help in generating income for sustainable development of the rural poor by providing credit support, strengthening quality control, and providing necessary technology.

21st Indian Ocean Rim Association Annual Council of Ministers' Meeting

India virtually participated in the 21st Annual Council of Ministers (COM) meeting of the Indian Ocean Rim Association (IORA).

Summit was held in Dhaka, Bangladesh.

The IORA COM was held in a hybrid format in Dhaka.

Bangladesh assumed the Chairmanship of IORA till 2023.

IORA is inter-governmental organization aimed at strengthening regional cooperation and sustainable development within the Indian Ocean region.

It has 23 member states and 9 Dialogue Partners.

World Philosophy Day 2021: 18th November

World Philosophy Day is celebrated on the Third Thursday of November every year (this year 18 November).

It was first celebrated in 2002 by the United Nations.

WPD aims to raise public awareness of the importance of philosophy.

Philosophy comes from the Greek word phílosophía which means ‘the love of wisdom.’

It is the study of the nature of reality and existence, of what is possible to know, and of right and wrong behaviour.

Anurag Thakur confers SAI Institutional Awards to 246 athletes and coaches

Union Minister Anurag Thakur conferred the first-ever Sports Authority of India's Institutional Awards to 162 athletes and 84 coaches in New Delhi.

They have been conferred awards in the Outstanding Award and Best Award category for their performance in national and international competitions.

The awards acknowledge the exceptional performance of the SAI athletes and coaches under the various sports promotion schemes at the national and international level from 2016.

Naturopathy Day is celebrated on 18th November

The National Naturopathy Day is observed in India on 18th November every year, to promote positive mental and physical health through a drugless system of medicine.

The day was declared by the Ministry of AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy), Government of India.

Naturopathy practitioners are trained through a five and half year BNYS — Bachelor of Naturopathy and Yogic Sciences.

UBS revises India's GDP growth forecast to 9.5% from 8.9% for FY22

UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5% from 8.9% in September.

The brokerage also sees the economy clipping at 7.7 per cent in FY23 but moderating to 6 per cent in FY24.

The Reserve Bank also forecasts 9.5 per cent GDP growth this fiscal while the average projection ranges from 8.5 to 10 per cent.

Sourav Ganguly appointed as the chairman of ICC's Cricket Committee

Sourav Ganguly has been appointed as the Chairman of the ICC men's Cricket Committee, the global cricket governing body.

He will replace Anil Kumble, who stepped down after serving a maximum of a three-year term.

Sourav Ganguly was appointed as the president Board of Control for Cricket in India (BCCI) in October 2019.

Johnny Grave, CEO of Cricket West Indies has been appointed to the ICC Women's Cricket Committee.

ICC Headquarters: Dubai, UAE (2005–present)

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.