Daily Current Affairs and GK | 13 May 2021

Topic: MoUs/Agreements

1. Cabinet approves Memorandum of Understanding between Institute of Chartered Accountants of India and Qatar Financial Centre Authority.

• The Union Cabinet approved a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the Qatar Financial Centre Authority (QFCA).
• The MoU has been signed to enhance cooperation between Institutes. It will also increase opportunities for members of ICAI to provide professional services.
• ICAI and QFCA will organize roundtables and networking events to explore opportunities for Indian businesses in Qatar.
• ICAI and QFCA will also collaborate in the fields of corporate governance, technical research, and advice, quality assurance, etc.
• Institute of Chartered Accountants of India (ICAI):
  • It was established as a statutory body by the Chartered Accountants Act, 1949.
  • It regulates the Chartered Accountancy profession in India.

Topic: Appointments

2. Jose J. Kattoor appointed as Executive Director of RBI.

• Jose J. Kattoor has been appointed as Executive Director (ED) of RBI.
• Earlier, he was heading Bengaluru Regional Office of the Reserve Bank as Regional Director for Karnataka.
• He will look Human Resource Management Department, Corporate Strategy and Budget Department as Executive Director (ED).
• His appointment is effective from May 04, 2021.
• RBI:
  • It was established on April 1, 1935, under the provisions of the Reserve Bank of India Act, 1934.
  • It was set up on the recommendations of the Hilton Young Commission.
  • Shaktikanta Das is the current RBI governor.

Topic: Government Schemes and Initiatives

3. PLI scheme “National Programme on Advanced Chemistry Cell (ACC) Battery Storage” approved by Union Cabinet.

• Rs 18,100 crore Production Linked Incentive (PLI) scheme “National Programme on Advanced Chemistry Cell (ACC) Battery Storage” was approved by Union Cabinet.
• Department of Heavy Industry had given proposal for the implementation of Rs 18,100 crore PLI Scheme “National Programme on ACC Battery Storage” to achieve manufacturing capacity of Fifty (50) Giga Watt Hour (GWh) of ACC.
• All the demand of the ACCs is currently being met through imports in India. National Programme on ACC will reduce import dependence.
• Under the scheme, ACC battery Storage manufacturing facility would have to be commissioned within a period of two years. The incentive amount will be disbursed thereafter over a period of five years.
• Each selected ACC battery Storage manufacturer would have to commit to set-up an ACC manufacturing facility of minimum five (5) GWh capacity.
• Each selected ACC battery Storage manufacturer would have to ensure a minimum 60% domestic value addition at the Project level within five years.
• Advanced Chemistry Cells (ACCs) are the new generation of advanced storage technologies. ACCs can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required.

Topic: Defence

4. Passage Exercise (PASSEX) conducted by Indian and Indonesian Navies in the southern Arabian Sea.

• Passage Exercise (PASSEX) was conducted by Indian and Indonesian Navies in the southern Arabian Sea.
• INS Sharda, an Offshore Patrol Vessel (OPV) with a Chetak helicopter onboard, represented Indian Navy.
• KRI Sultan Hasanudin, a 90m Corvette, represented Indonesian Navy.
• Indian and Indonesian Navies conducted the last PASSEX on March 13 between INS Kalpeni, IN Dornier and KRI Sultan Iskandar Muda.
• In February 2021, Indian and Indonesian Navies conducted PASSAGE Exercise.
• Indian Navy conducts PASSEX exercise with the units of friendly foreign countries.

Topic: Reports and Indices

5. Former CBI officer K Ragothaman passed away.

• Former CBI officer K Raghothaman died at the age of 75.
• He was the chief investigation officer of the Special Investigation Team (SIT) of the Rajiv Gandhi assassination case.
• He was awarded the Police Medal in 1988 and President Medal in 1994.
• He has authored many books including Conspiracy to Kill Rajiv Gandhi, Third Degree Crime Investigation Management and Crime and the Criminal.
• He joined the CBI in 1968 as a sub-inspector of police.
• Central Bureau of Investigation (CBI):
  • It is an investigating agency in India.
  • It works under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions.
  • Praveen Sinha is the current interim director of the CBI.

Topic: Sports

6. Manchester City won English Premier League.

• Manchester City has won the English Premier League title for the third time in four seasons.
• Manchester City, with 80 points, is far ahead of his nearest rivals. It has won the title with three matches remaining in the league.
• Twenty clubs have participated in this year’s English Premier League Championship.
• Manchester City: It is a football club based in Manchester. It was founded in 1880.
• English Premier League: It is also known as Premier League. It is the most-watched sports league in the world.

(Source: News on AIR)

Topic: International News

7. German regulator bans Facebook from processing WhatsApp user data.

• German regulator has ban social networking site Facebook from processing personal data of WhatsApp users.
• Germany’s data protection regulator has said that new terms of service of WhatsApp are illegal under the European privacy law.
• WhatsApp has asked its users to agree to new terms and conditions by May 15. The new terms will grant access to private data to Facebook.
• According to German regulators, WhatsApp is forcing users to update their App by 15^th May or else the service will be stopped.
• However, WhatsApp has said that the update of App is not connected with sharing of data with Facebook.
• Facebook:
  • It is an American online social media and Social networking company.
  • It was founded by Mark Zuckerberg in 2004.
  • Its headquarters is located in California, United States.

(Source: News on AIR)

Topic: National News

8. Cabinet approves transfer of land for development of Aerial Passenger Ropeway System in Uttarakhand.

• The Union Cabinet has approved the transfer of 1500 square metres of land belonging to Indo-Tibetan Border Police (ITBP) to the Uttarakhand government for the development of the Aerial Passenger Ropeway System.
• The Aerial Passenger Ropeway System will be constructed between Dehradun and Mussoorie. It will be built with an estimated cost of Rs.285 crore with a carrying capacity of 1000 persons per hour.
• It will help in reducing the travel time between Dehradun to Mussoorie.
• The ropeway project will generate direct employment of 350 and indirect employment of more than 1500 people.
• It will also boost the tourism sector of the state and it will reduce the traffic flow between Dehradun to Mussoorie.
• Uttarakhand:
  • It is located in the northern part of India.
  • It shares its border with Tibet, Nepal, Himachal Pradesh, Haryana, and Uttar Pradesh.
  • The Chief Minister of Uttarakhand is Tirath Singh Rawat and Governor is Baby Rani Maurya.
  • Dehradun is the capital of Uttarakhand.

Topic: Indian Economy

9. Moody’s cuts India GDP forecast for FY 2022.

• Moody’s Investors Service has slashed India’s GDP growth rate forecast for FY2022 from 13.7% to 9.3%.
• It has cut India’s FY22 growth rate forecast due to the negative impact of the second wave of coronavirus pandemic on the Indian Economy.
• The imposition of lockdown has curbed economic activity across the country. As per Moody’s, the impact of lockdown will not be severe as last year’s lockdown.
• Moody’s has assigned its lowest investment grade with a negative outlook for India. It has been estimated that the Indian Economy will grow strongly in the second half of this year.
• Earlier, the Barclays, S&P Global Ratings, and Brickwork Ratings have also revised India’s GDP forecast for FY2022.
• Moody’s Investors Service is a credit-rating agency. S&P, Moody’s Investors Service, and Fitch Ratings are known as Big Three credit-rating agencies.

Topic: Biotechnology and Diseases

10. World Health Organization classified Indian coronavirus variant as a “global variant of concern”.

• The World Health Organization has classified a coronavirus variant found in India as a global “variant of concern”. This variant has been named B.1.617.
• According to World Health Organization, this variant is already spread to more than 30 countries. It is more transmissible than other variants.
• This variant is also called the “double mutant variant”. It was first identified by the United Kingdom health authorities.
• The B.1.617 variant is the fourth variant of coronavirus classified by the WHO. It has two mutations referred to as E484Q and L452R.
• Viruses create one or more variants by mutating themselves. Viruses mutate themselves so that they can cohabitate with humans.
• Scientists across the world are still studying the Vaccine effectiveness against the B.1.617 variant.
• World Health Organization (WHO):
  • It was established on 7 April 1948.
  • It is a specialized agency of the United Nations responsible for international public health.
  • It is headquartered in Geneva, Switzerland.
  • Its current President is Dr. Tedros Adhanom Ghebreyesus.