Daily Current Affairs and GK | 12 May 2021

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 21^st 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.

Topic: Miscellaneous

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.

Topic: Appointments

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.

(Source: PIB)

Topic: Summits/ Conferences/ Meetings

5. 4^th 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.
• Switzerland:
  • 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.

Topic: Sports

9. Shotgun World Cup is being organized in Italy.

• The Shotgun World Cup is being organized from May 7^th to 17^th 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 53^rd 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.

Topic: Miscellaneous

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:

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.