Latest Current Affairs For Thursday 16th December, 2021

Adani signs agreement with SECI for green power

Adani Green Energy Ltd (AGEL) has signed an agreement with Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power.

It is the world’s largest-ever green power purchase agreement.

The agreement is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020.

So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6,000 MW of the 8,000 MW awarded in 2020.

International Tea Day: 15th December

International Tea Day is observed every year on December 15 in countries like Bangladesh, Sri Lanka, Nepal, Vietnam, Indonesia, Kenya, Malawi, Malaysia, Uganda, India, and Tanzania.

It was first observed in New Delhi in India in 2005.

Tea is the second most used drink in the world after water.

Aim: to draw global attention of governments and citizens to impact of global tea trade on workers and growers, and has been linked to requests for price supports and fair trade. 

Life Insurance Corporation of India rolls out Dhan Rekha plan

LIC has introduced new Dhan Rekha plan with effect from December 13, 2021.

LIC’s Dhan Rekha is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan that offers an attractive combination of protection and savings.

Sum assured: 2,00,000

Maximum amount: Nil

Survival benefits:

20 years- 10% of Basic Sum Assured at the end of each of 10th and 15th policy year.

30 years- 15% of Basic Sum Assured at the end of each of 15th, 20th and 25th policy year. 

Askot wildlife sanctuary declared as eco-sensitive zone

Uttarakhand Pithoragarh’s Askot Wildlife Sanctuary has been finally declared as an Eco-Sensitive Zone (ESZ).

Sanctuary area has been reduced stretch of 146 square kms along which over 111 villages are located has been kept out of the ESZ ambit to make the flagship species habitat safe from human interferences.

It is known as ‘Green Paradise on the Earth’. 

Eco-Sensitive Zones (ESZs) are areas in India notified by Ministry of Environment, Forests and Climate Change (MoEFCC). 

Ravinder Bhakar assume charge of NDFC and CFSI

CEO of Central Board of Film Certification (CBFC), Ravinder Bhakar has assumed charge of National Film Development Corporation (NFDC), Films Division, and Children Films Society of India (CFSI). 

He is 1999-batch officer of Indian Railway Stores Service (IRSS). 

He has been assigned these charges in addition to his present duties as CEO of the film certification body.

Anjalli Ravi Kumar appointed as CSO of Zomato

Ex-Unilever executive Anjalli Ravi Kumar has been appointed as Chief Sustainability Officer (CSO) of Zomato.

Prior to this, she worked with Unilever as Global Sustainability Director. She is a recipient of the Unilever Global Heroes Award in 2017 for launching a unique mobile skilling programme. 

Apart from her, Nitin Savara has been appointed as the Deputy Chief Financial Officer of the company. 

He was earlier a Partner at EY, will work with Zomato CFO Akshant Goyal.

Haiderpur wetlands becomes 47th Ramsar site of India

Uttar Pradesh’s Haiderpur wetland has been added to the list of Ramsar sites/wetlands of international importance. 

It is 47th Ramsar site of India. 

Haiderpur is human-made wetland that spreads over an area of 6,908 hectares in Bijnor, Uttar Pradesh.

It is formed in 1984 on a floodplain of the River Ganga on Madhya Ganga Barrage within the boundaries of Hastinapur Wildlife Sanctuary.

It is home to more than 30 species of plants, over 300 species of birds.

Pawan Kumar appointed as Director (Commercial) of IGL

Pawan Kumar has been appointed as Director (Commercial) of Indraprastha Gas Limited (IGL) with effect from December 1, 2021. 

His tenure will be of three years subjects to approval by shareholders of the company. 

He replaced Amit Garg who has been repatriated to BPCL. 

IGL is a joint venture company between GAIL (India) Limited, BPCL and Govt of NCT of Delhi. It was established in 1998 and operates primarily in Delhi.

Five Indian brands in top 100 global powers of luxury goods list

Five Indian brands are placed in the top 100 global powers of luxury goods list, according to Deloitte Global 2021 edition of Global Powers of Luxury Goods.

Tata group firm Titan is ranked 22nd and is among 20 fastest-growing luxury companies. 

Kalyan Jewellers, Joyalukkas, PC Jewellers, and Tribhovandas Bhimji Zaveri Ltd, have been ranked 37th, 46th, 57th, and 92nd, respectively. 

Top luxury brands featured leading players from EMEA (Europe, Middle East, and Africa). 

Dubai govt becomes world's first 100% paperless government

Dubai has become world's first government to turn 100% paperless, savings 1.3 billion Dirham (USD 350 million) and 14-million-man hours.

All internal, external transactions and procedures in Dubai Government are now 100% digital and managed through comprehensive digital government services platform.

The move also reinforces Dubai's status as a world-leading digital capital and as a role model in designing govt operations and services that enhance customer happiness. 

RBI introduces tough PCA framework for large NBFCs

RBI has introduced prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs) with effect from October 2022. 

It will put restrictions on para-banks whenever vital financial metrics dip below prescribed threshold.

The move will bring NBFCs almost on a par with banks in terms of supervision and regulatory reach.

This follows scale-based regulations and revision in non-performing asset norms brought in by the regulator for the sector.

Leena Nair appointed as global CEO of ‘Chanel’ Fashion House

Leena Nair (52 years) has been appointed as the new global Chief Executive Officer (CEO) of French fashion house 'Chanel'.

She will assume the office with effect from January 2021.

She was working with Unilever for over 30 years, most recently as the chief of human resources and a member of the company's executive committee.

Chanel was founded in 1910 by fashion legend Gabrielle "Coco" Chanel as a hat boutique on rue Cambon in Paris.

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.