Latest Current Affairs For Wednesday 24th November, 2021

V Prez flags off ‘Visakhapatnam-Kirandul Passenger Train’

Vice President M. Venkaiah Naidu has flagged off ‘Visakhapatnam-Kirandul Passenger Train’ and additional Vistadome coaches.

360-degree viewing system of the Vistadome coaches will make the journey an unforgettable experience for the passengers as it passes through a scenic, mountainous terrain of Eastern Ghats through many curves, tunnels and bridges. 

Jitendra Singh launches India’s first Virtual Science Lab for Children

Science and Technology Minister, Jitendra Singh has launched India’s first Virtual Science Lab for Children under CSIR Jigyasa Programme. 

It will also connect students with scientists across the country.

Main aim of Virtual Lab: To provide quality research exposure and innovative pedagogy for school students based on an online interactive medium.

New facility will immensely benefit students from Kendriya Vidyalayas, Navodaya Vidyalayas and Government Schools. 

AIR, Doordarshan win awards at ABU-UNESCO Peace Media Awards 2021

Doordarshan and radio show by All India Radio has received multiple awards at ABU - UNESCO Peace Media Awards-2021 at Kuala Lumpur in Malaysia.

‘Ethical and Sustainable Relationship with Nature’ award: AlR’s ‘Living on the edge - The coastal lives’. 

Living Well with Super Diversity category: Doordarshan’s programme 'DEAFinitely Leading the Way. 

The awards were given by UNESCO in collaboration with Asia Pacific Broadcasting Union under ‘Together for Peace’ initiative.

Nirmala Sitharaman inaugurates Aayakar Bhawan-cum-Residential Complex

Union Finance Minister Nirmala Sitharaman has inaugurated new Aayakar Bhawan-cum- Residential Complex 'The Chinars' at Rajbagh in Srinagar.

Income Tax Building had got damaged in a terrorist attack in 2005. 

Establishment of new office complex and attached 'Aayakar Seva Kendra' will go a long way in providing better service to tax prayers in the spirit of Jan Bhagidari.

Number of developmental works shall be carried out for the overall benefit of the people. 

Fifth East Asia Summit Conference on Maritime Security Cooperation

The fifth East Asia Summit (EAS) Conference on Maritime Security Cooperation will be held from 23rd and 24th November in Kolkata.

The event is being organized by India in partnership with Australia.

Apart from two governments, organizers include ASEAN-India Centre at Research and Information System for Developing Countries in collaboration with National Maritime Foundation of Australia and Research Centre for East and Northeast Regional Studies, Kolkata.

EPFO gets approval to park 5% of annual deposits in InvITs

Central Board of Trustees (CBT) of Employees’ Provident Fund Organization (EPFO) have approved that up to 5% of the annual deposits can be invested in alternative investment funds (AIFs) including infrastructure investment trusts (InvITs).

This investment will offer diversification to EPFO’s investment basket.

Finance Investment and Audit Committee (FIAC) have been tasked to decide upon investment options, on case-to-case basis.

AIFs are regulated by SEBI.

SBI Ecowrap report projects India’s GDP for FY22 between 9.3%-9.6%

State Bank of India (SBI) economists in its research report ‘Ecowrap’ has revised upwards the GDP growth projection for India to range from 9.3% to 9.6% for FY22 (2021-22).

Earlier, this was estimated in the range of 8.5% to 9%.

Reason for the upward revision is decline in the number of COVID cases.

Average GDP growth of 28 selected economies has decelerated to 4.5% in Q3 (2021) as against 12.1%.

Venezuelan musicians set world's largest orchestra record

Venezuela has set new Guinness World Record for the largest orchestra with 8,573 musicians playing together for more than five minutes.

This record was set by National System of Youth and Children’s Orchestras of India, known as ‘El Sistema’.

Prior to this, such record for an orchestra was made by Russia when 8,097 musicians played together in St. Petersburg.

Venezuela is a country on the northern coast of South America. 

Capital of Venezuela: Caracas.

Bhupender Yadav initiates first ever All India Domestic Workers Survey

Labour and Employment Minister Bhupender Yadav has flagged off the first ever All India Domestic Workers Survey.

It will cover 742 districts in 37 States and Union territories.

Objective: To estimate the number and proportion of domestic workers at the national and state level and find out household estimates of live-in and live-out domestic workers.

It will also estimate the average number of domestic workers engaged by different types of households.

Jitendra Singh inaugurates ISRO's five-day Technology Conclave-21

Union Minister Jitendra Singh has inaugurated ISRO's five-day Technology Conclave-2021, highlighting the Futuristic and Disruptive Technologies to be developed by Indian Space Research Organisation (ISRO).

It is being organized by Directorate of Technology Development and Innovation (DTDI) under the aegis of ISRO.

Development of Satellite-Based Quantum Communication will enable unconditional data security to the country’s communication network.

El Salvador plans to build world’s first ‘Bitcoin City’

El Salvador President Nayib Bukele has announced to build the world’s first Bitcoin City in the country. 

This new city is planned to be developed in the eastern region of La Union and will be initially funded by bitcoin-backed bonds.

It would get geothermal power from a volcano.

Bitcoin City will not levy any taxes except for value added tax (VAT).

One half of this VAT levied will be used to fund the bonds issued to build the city.

CII to organize 20th edition of ‘Connect 2021’ in Chennai

Confederation of Indian Industry (CII) will organize its flagship event titled ‘Connect 2021’ in Chennai, Tamil Nadu. 

It will be held from 26th to 27th November. 

Theme: Building a Sustainable Deep T’ech’N’ology Ecosystem. 

Connect: It is an international conference and exhibition on information & communication technology (ICT). 

Partner countries: Australia and UK. 

It is hosted by Govt of Tamil Nadu and co-hosted by Software Technology Parks of India and MeitY.

Andhra Pradesh bags Best Marine State Award

Department of Fisheries has awarded best performing States for 2021-22 on ‘World Fisheries Day’ to recognize their accomplishments in the field and their contribution into the growth of the sector.

Awards:

Best marine state: Andhra Pradesh

Best Inland states: Telangana

Best Hilly and NE marine states: Tripura

Best Marine District: Balasore in Odisha

Best Inland District: Balaghat in Madhya Pradesh.

Best Hilly and NE District: Bongaigaon in Assam.

Abhinandan Varthaman conferred Vir Chakra by President

Group Captain Abhinandan Varthaman has been awarded Vir Chakra by President Ram Nath Kovind at Rashtrapati Bhavan in New Delhi. 

He shot down Pakistani F-16 jet during a dogfight over the Line of Control (LoC) in 2019. 

Vir Chakra: India’s third highest wartime gallantry award after Param Vir Chakra and Maha Vir Chakra.

Abhinandan is IAF’s first Vir Chakra awardee after 1999 Kargil war when Ajay Ahuja and Wing Commander AK Sinha were awarded the wartime gallantry medal.

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.