Daily Current Affairs and GK | 27 April 2021

Topic: Important Days

1. World Intellectual Property Day: 26 April

• World Intellectual Property Day is observed every year on 26 April. It is celebrated to spread awareness about the role of patents, copyright, trademarks, and designs.
• The day was started by the World Intellectual Property Office (WIPO) in 2000. On 26 April 1970, the WIPO Convention came into force.
• This day’s main aim is to increase people’s awareness and understanding of intellectual property (IP).
• The theme of this year’s World Intellectual Property Day is “Intellectual property and small businesses: Taking big ideas to market”.
• WIPO:
  • It was established in 1967.
  • It is one of the specialized agencies of the United Nations.
  • It is responsible for promoting intellectual property across the globe.
  • The headquarters is located in Geneva, Switzerland.

Topic: Personality in News

2. Nuclear scientist Krishnamurthy Santhanam passed away.

• Recently, Indian nuclear scientist Krishnamurthy Santhanam has died.
• He was the field director of the Defence Research and Development Organization (DRDO) during the tests of Pokhran-II.
• He will be remembered for his contribution to the Science and Technology field of India.
• He was associated with many organizations including the Defence Research and Development Organization, Department of Atomic Energy and Institute for Defence Studies and Analyses.
• He was awarded with Padma Bhushan award in 1999.

Topic: Defence

3. Single crystal blades technology developed by DRDO.

• Single crystal blades technology has been developed by Defence Research and Development Organisation (DRDO).
• 60 of these blades have been supplied to Hindustan Aeronautics Limited for helicopter engine.
• Under indigenous helicopter development program, DRDO will develop 300 blades of single crystal high pressure turbine blades.
• Single crystal blades are used for reliable operation of helicopters used in strategic and defence applications at extreme conditions.
• Single Crystal Blades are manufactured by Nickel based superalloys capable of withstanding high temperatures.
• Only the USA, UK, France, and Russia have the capability to manufacture Single Crystal (SX) components.

(Source: News on AIR)

Topic: Indian Economy

4. Finance Ministry changed timelines in light of hardships caused by second wave of Covid-19.

• Finance ministry has extended timelines in light of hardships caused by second wave of Covid-19.
• Time limit for payments under Vivad se Vishwas without additional tax of 10% has been extended till June 30.
• Earlier, applicants under Direct Tax Vivad se Vishwas Act were required to pay the settled tax amount by April 30.
• The time limit for sending intimation of processing of Equalisation Levy has also been extended to June 30.
• Vivad se Vishwas Scheme was proposed in Union Budget 2020-21. The deadline for scheme has been extended several times in past. It provides a structured and formula-based solution for the disputed tax.
• Equalisation Levy is a direct tax. It was brought in in India in 2016. In Budget 2021-22, government clarified that transaction taxable under income-tax are not liable for equalisation levy.

Topic: Personality in News

5. Waman Bhonsle passes away.

• Waman Bhonsle, the best editing award winner at the 25^th National Film award, passed away.
• He won the best editing award at the 25th National Film award for Inkaar.
• He started as an independent editor for the film “Do Raaste”.
• “Kairee” was his last film as an editor. It was directed by Amol Palekar.

Topic: RBI

6. Instructions on governance for banks issued by RBI.

• RBI has issued instructions on governance for banks.
• The instructions are meant for private sector banks, small finance banks (SFBs) and wholly owned subsidiaries of foreign banks.
• Foreign banks operating as branches in India will not come under the instructions issued by RBI.
• The instructions have come into effect from the date of issue of the circular. But, banks have been allowed to comply with instructions by October 01, 2021. 
• As per RBI, the same incumbent cannot hold the post of MD & CEO or whole time director for more than 15 years.
• MD & CEO or whole time director who is also a promoter/ major shareholder cannot hold posts for more than 12 years.
• RBI has said that individuals will be eligible for reappointment on the post of MD & CEO or whole time director after a minimum gap of three years.
• Individuals will be eligible for reappointment if the board considers the reappointment necessary and desirable.
• RBI has allowed the upper age limit for MD & CEO and whole time director to continue at 70 years.
• Boards of banks can prescribe a lower retirement age for MD & CEO and whole time director.

Topic: Defence

7. World military spending rises 2.6% than last year.

• Global military spending increased by 2.6% in 2020 despite the Covid-19 pandemic. The total military expenditure has increased by $1.98 trillion than last year.
• According to the Stockholm International Peace Research Institute’s report, the United States, China, India, Russia and the United Kingdom were the five biggest military spenders in 2020.
• China, India, Russia, and the United Kingdom account for 62% of the total military spending of the world.
• In 2020, military spending as a share of GDP had increased by 0.2% due to the decline in global GDP.
• Some countries like Chile and South Korea have redirected their military fund towards their pandemic fund.
• Brazil and Russia decreased their allocation to defense in 2020. US military expenditure increased by 4.4 percent in 2020 than last year.
• In 2020, China’s military expenditure increased by 1.9 percent than last year.
• The United States is the largest military spender in the world, while China is the second-largest military spender.
• India’s military expenditure in 2020 was 2% higher than the last year. India is the third-largest military spender in the world.
• NATO’s military expenditure had also increased in 2020. The UK became the fifth largest military spender in 2020.

Topic: Personality in News

8. Former Maruti Suzuki India MD Jagdish Khattar passes away.

• Jagdish Khattar, the former managing director (MD) of Maruti Suzuki India, died at the age of 78. He worked in Maruti Udyog from 1993 to 2007.
• He was appointed as managing director (MD) of Maruti Suzuki India in 1999.
• He established his own venture, ‘Carnation’, which is a multi-brand car sales and service network.
• During his tenure, he had taken some significant decisions related to used car and accessories businesses.
• Maruti Suzuki India Limited:
  • It was also known as Maruti Udyog Limited.
  • It was founded by the Government of India and a Japanese company.
  • It was sold to Suzuki Motor Corporation by the Government of India in 2003   
  • R. C. Bhargava is the current chairman of Maruti Suzuki.
  • It is the largest automobile manufacturers in India.

Topic: Space and IT

9. China’s first Mars rover will be named Zhurong.

• China has announced that its first Mars rover will be named Zhurong after a traditional fire god.
• The rover is part of the Tianwen-1 mars mission of China. The main objective of Tianwen-1 is to conduct a survey of the planet and collect information about its geological structures.
• China will become the third country in the world to land a robot rover on Mars. Russia and the United States are other countries that have successfully landed the rover on Mars.
• The Chinese rover will land in Utopia Planitia on Mars.
• The six-wheel solar-powered rover looks like a blue butterfly with a mass of 240 kg.
• The rover comprises panoramic and multispectral cameras and instruments to analyze the composition of rocks.
• China had launched a mars mission named Tianwen-1 on 23 July 2020. It comprises a lander, orbiter, and rover. It is China’s first independent interplanetary mission.

Topic: Important Days

10. World Malaria Day: 25 April

• World Malaria Day is observed on 25 April every year. It is celebrated to spread awareness about malaria disease.
• The theme of World Malaria Day 2021 is “Reaching the zero malaria target.”
• At the 60^th session of the World Health Assembly, World Health Organisation (WHO) had adopted the World Malaria Day in 2007.
• It is observed to highlight the need for investment and sustained political commitment for the prevention and control of malaria.
• The government of India had launched the National Framework for Malaria Elimination (NFME) in 2016. India has also launched a National Strategic Plan for Malaria Elimination for the period of 2017-22.
• Malaria:
  • It spread by the bite of an infected female anopheles mosquito. Infected mosquitoes carry the Plasmodium parasite.
  • It is a preventable and treatable infectious disease.
  • In 1897, Sir Ronald Ross found that malaria among humans is spread by female mosquitoes.
  • Hydroxychloroquine is an anti-malarial drug.