- 1. Department of Economic Affairs and New Development Bank (NDB) will organize a seminar on “social infrastructure financing and use of digital technologies”
- 2. CBSE launched ‘Dost for Life’ mobile app for students and parents.
- 3. SBI’s Padmakumar M Nair appointed as CEO of National Asset Reconstruction Company Limited (NARCL).
- 4. IREDA given Green Urja Award for being Leading Public Institution in Financing Institutions for Renewable Energy.
- 5. 4th India-Swiss Financial Dialogue organized virtually in New Delhi.
- 6. International Nurses Day is celebrated every year on 12 May.
- 7. India to be world’s fastest growing major economy in 2022.
- 8. Himachal Pradesh is constructing forest ponds for rainwater harvesting.
- 9. Shotgun World Cup is being organized in Italy.
- 10. Shakoor Rather penned a book ‘Life in the Clock Tower Valley’.
- 11. ‘Miyon ka Bara’ station in Rajasthan renamed as Mahesh Nagar.
- 12. AI algorithm has been developed by DRDO to detect Covid-19 infection.
- 13. Hostilities between Israel and Hamas escalated after the air strikes.
New Year Offer get 20% Off
Use Coupon code PENDULUMEDU
Topic: Summits/ Conferences/ Meetings
1. Department of Economic Affairs and New Development Bank (NDB) will organize a seminar on “social infrastructure financing and use of digital technologies”
- The Department of Economic Affairs and the New Development Bank (NDB) will organize a virtual seminar on “Social Infrastructure Financing and use of Digital Technologies”.
- It will be organized on 13 May 2021 under the Indian BRICS Chairmanship as part of the Economic and Financial Cooperation Agenda.
- Participants from both the public and private sectors will participate in this webinar. Many key issues like surrounding social infrastructure financing and the use of Digital Technologies in the 21st century will be discussed.
- It will also discuss issues like steps for tackling the challenges related to social infrastructure financing, the importance of investing in social infrastructure to promote sustainable development, etc.
- New Development Bank:
- It was established as BRICS Development Bank in July 2014.
- It is headquartered in Shanghai, China.
- Its President is Marcos Prado Troyjo.
2. CBSE launched ‘Dost for Life’ mobile app for students and parents.
- Central Board of Secondary Education (CBSE) has launched the ‘Dost for Life’ mobile app for students and parents.
- It has been launched for the psychological counselling of students of classes 9 to 12 and Parents.
- CBSE will organize live counselling sessions thrice a week by trained counselors.
- The App will also provide information to students on suggestive course guides after 10+2 and on mental health.
- Central Board of Secondary Education (CBSE):
- It is a national level board of education in India for public and private schools.
- It works under the Ministry of Education.
- Manoj Ahuja is the current chairman of CBSE.
3. SBI’s Padmakumar M Nair appointed as CEO of National Asset Reconstruction Company Limited (NARCL).
- SBI’s Padmakumar Madhavan Nair has been appointed as Chief Executive Officer (CEO) of National Asset Reconstruction Company Limited (NARCL).
- NARCL is commonly known as Bad Bank. Nair is currently serving at the position of chief general manager (CGM), in-charge of stressed assets in SBI.
- The announcement for the creation of a bad bank was made by Finance Minister Nirmala Sitharaman in the 2021 Union Budget.
- Asset Reconstruction Company India (Arcil) is the oldest of different Asset reconstruction entities in India.
- Arcil is owned by SBI, IDBI Bank, ICICI Bank (ICICI), Punjab National Bank (PNB) and Avenue India Resurgence Pte. It is essentially a private company. Proposed bad bank is likely to be a public sector company.
- Gross NPAs of Indian banks is nearly 8%. As per RBI, Gross NPAs are likely to grow to 15% by September this year.
Topic: Awards and Prizes
4. IREDA given Green Urja Award for being Leading Public Institution in Financing Institutions for Renewable Energy.
- IREDA has been given Green Urja Award for being the Leading Public Institution in Financing Institutions for Renewable Energy by the Indian Chamber of Commerce (ICC).
- Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, received the award from Dr. Ajay Mathur, Director General, International Solar Alliance.
- Shri Anil Razdan, Chairman, ICC National Expert Committee on Energy, was also present in the virtual ceremony.
- Indian Renewable Energy Development Agency Ltd. (IREDA):
- It comes under the administrative control of the Ministry of New & Renewable Energy (MNRE).
- It is a Mini Ratna (Category – I) Government of India Enterprise. It is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987.
- It provides financial support to specific projects and schemes for generating electricity through new and renewable sources.
Topic: Summits/ Conferences/ Meetings
5. 4th India-Swiss Financial Dialogue organized virtually in New Delhi.
- 4th India-Swiss Financial Dialogue was organized virtually in New Delhi on 11 May.
- Secretary Economic Affairs Ajay Seth led the Indian delegation.
- During the dialogue, both countries shared experiences on investments, International Financial Services Centre Authority, National Investment and Infrastructure Fund and cross-border financial services.
- They also discussed matters related to G20, IMF and tax challenges arising from the digitalization of the economy.
- It is a landlocked country. Italy is located on its southern border. France is located to west of Switzerland.
- Germany is located to its north. Austria and Liechtenstein are located to the east.
- No city in Switzerland has the official status of capital. Bern is referred to as its capital.
Topic: Important Days
6. International Nurses Day is celebrated every year on 12 May.
- International Nurses Day is celebrated every year on 12 May, the birth anniversary of Florence Nightingale.
- The theme for International Nurses Day 2021 is “Nurses: A Voice to Lead - A vision for future healthcare”.
- International Nurses Day is celebrated to mark the contribution of nurses to society.
- Florence Nightingale, a British social reformer and statistician and founder of modern nursing. She was born on 12 May 1820 in Florence, Italy.
- The International Council of Nurses (ICN) celebrated International Nurses Day for the first time in 1965. In 1974, May 12 was chosen to celebrate International Nurses Day.
- Theme 2020: “Nurses: A Voice to Lead-Nursing the World to Health.”
Topic: Reports and Indices
7. India to be world’s fastest growing major economy in 2022.
- As per United Nations, India will be the world’s fastest growing major economy in 2022.
- UN has projected that the Indian economy will grow at 10.1% in the calendar year 2022.
- UN has projected 10.1% growth in its mid-year update of the World Economic Situation and Prospects (WESP).
- As per the report, India will show a 7.5% growth rate in the calendar year 2021.
- World Economic Situation and Prospects (WESP) is released by UN Department of Economic and Social Affairs (DESA).
- UN Department of Economic and Social Affairs (DESA) produces this report (WESP) with inputs from UN Conference on Trade and Development (UNCTAD) and the five UN regional commissions.
(Source: News on AIR)
Topic: State News/ Himachal Pradesh
8. Himachal Pradesh is constructing forest ponds for rainwater harvesting.
- Himachal Pradesh is constructing forest ponds for rainwater harvesting.
- The government is constructing big and small ponds under the Parvat Dhara scheme for the rejuvenation of water sources and recharging aquifers.
- Under this scheme, Government is also performing cleaning and maintenance of existing ponds. It will help in enhancing the water level.
- The main focus of the scheme is soil and water conservation through the plantation.
- Himachal Pradesh is forest rich area; 27 percent of its area is covered by forest.
- Himachal Pradesh:
- It is a state in north India that shares borders with Jammu and Kashmir, Ladakh, Haryana, Punjab, Uttarakhand, Uttar Pradesh, and Tibet.
- It is located in the western Himalayas.
- The summer capital of Himachal Pradesh is Shimla and the winter capital is Dharamshala.
- It has 33 wildlife sanctuaries and two national parks.
- Jai Ram Thakur is the current Chief Minister of Himachal Pradesh.
9. Shotgun World Cup is being organized in Italy.
- The Shotgun World Cup is being organized from May 7th to 17th in Lonato, Italy.
- India’s Gurjoat Singh Khangura started his journey in the Shotgun World Cup 2021 by shooting 74 out of 75 in the opening three rounds of the men’s skeet event.
- Angad Vir Singh Bajwa is also participating in this world cup. He is on the 53rd spot.
- A total of 399 athletes from 56 countries are taking part in this World Cup.
- It is being organized by the International Shooting Sport Federation.
Topic: Books and Authors
10. Shakoor Rather penned a book ‘Life in the Clock Tower Valley’.
- Journalist Shakoor Rather has written his debut book ‘Life in the Clock Tower Valley’. It was released in March 2021.
- It was published by Speaking Tiger.
- This book narrates about various aspects of everyday life and emotions in Kashmir.
- It provides historical and political information about Kashmir.
- This book narrates a love story between Samar and Rabiya.
11. ‘Miyon ka Bara’ station in Rajasthan renamed as Mahesh Nagar.
- The name of ‘Miyon ka Bara’ railway station in Rajasthan has been renamed, Mahesh Nagar.
- Earlier, the name of the ‘Miyon ka Bara’ village had been renamed Mahesh Nagar in 2018.
- The name of the Villages, Cities, and Railway station is approved by the Ministry of Home Affairs after the proposal was passed by the state authorities.
- Home Ministry has approved 52 proposals of name changes between 2017 to 2020.
- Recently renamed Railway stations:
Dandupur railway station
Maa Barahi Devi Dham
Manduadih railway station
Topic: New Developments
12. AI algorithm has been developed by DRDO to detect Covid-19 infection.
- Defense Research and Development Organization (DRDO) has developed an Artificial Intelligence algorithm for the detection of Covid-19 infection by analyzing chest x-rays.
- The algorithm tool named ‘ATMAN AI’ has been developed by DRDO’s Centre for Artificial Intelligence and Robotics (CAIR) in association with HCG Academics.
- The Chest X-Rays of patients will be analyzed by the algorithm tool through Deep Learning & Convolutional Neural Network models. It has an accuracy of 96.73 percent.
- It has been developed by DRDO as part of the effort to develop a tool for the rapid diagnosis of the COVID-19 patients.
- The tool will help in reducing the burden on radiologists and CT scan machines.
- Defense Research and Development Organisation (DRDO):
- It was established in 1958.
- It is mainly involved in developing critical defense technologies and products to meet the requirements of the Indian Armed Forces.
- It works under the Ministry of Defence.
- It has a network of 52 laboratories in the country.
- G. Sateesh Reddy is the current chairman of DRDO.
Topic: International News
13. Hostilities between Israel and Hamas escalated after the air strikes.
- The Israeli military has bombarded rockets in different areas in Gaza. It is the most intense airstrikes in Gaza since 2014.
- Hamas had fired hundreds of rockets towards Israel on Monday. After that, Israel has carried out hundreds of airstrikes in Gaza.
- The Gaza-based Palestinian group, Hamas, had fired rockets towards Israel in protest of the clash between Israeli police and Palestinian protesters in Al-Aqsa Mosque.
- Al-Aqsa Mosque is located in Jerusalem. It is the third holiest place for Muslims.