Daily Current Affairs and GK | 4, 5 and 6 November 2021

Topic: Banking System

1. RBI to launch web-based supervisory system for supervision of digital banking and cyber security.

• The Reserve Bank of India will launch a web-based supervisory system for the supervision of modern functions such as digital banking and cyber security.
• According to Deputy Governor M K Jain, the RBI is increasingly using data and analytical tools for offsite supervision.
• RBI is also strengthening its capabilities through the revamped data warehouse, and centralized information management system.
• Meanwhile, the RBI has also issued a revised Prompt Corrective Action (PCA) framework for banks.
• Capital, asset quality, and leverage will be the key areas for monitoring in the revised framework.

Topic: Important Days

2. Ayurveda Day: 2 November

• Ayurveda Day is observed every year on 2 November. It is celebrated every year on the occasion of Dhanwantari Jayanti.
• Its main aim is to create awareness about the use of Ayurveda and increase the role of Ayurveda in the National Health Policy and National Health programmes.
• It is celebrated to spread awareness about the importance of Ayurveda in our daily lives.
• Lord Dhanvantari is considered a divine propagator of Ayurveda. He is conferred with the virtues of granting health and wealth.
• The practice to observe Ayurveda Day was started by the Union Ministry of Ayush in 2016.
• Ayurveda is perceived as one of the most ancient and well-documented systems of medicine.

Topic: Indian Polity

3. Former Punjab CM Amarinder Singh announces new party.

• Former Punjab Chief Minister Captain Amarinder Singh resigned from Congress and announce his new political party - Punjab Lok Congress.
• He had also said that his party would contest all 117 seats in Punjab.
• The Election Commission of India (ECI) accords recognition to the national level and the state level political parties.
• Registered Parties are divided into two categories: National Party and State Party. 
• Election Commission allocates symbols to parties under the Election Symbols (Reservation and Allotment) Order, 1968.
• According to the Election Commission, any party seeking registration has to submit an application to the Commission within 30 days after its formation.

Topic: Awards and Prizes

4. Manpreet name added to Khel Ratna winners.

• Indian men's hockey team captain Manpreet Singh has been added to the list of Major Dhyan Chand Khel Ratna awardees.
• Manpreet was originally recommended for the Arjuna award but later his name was added to the list of Major Dhyan Chand Khel Ratna awardees.
• The Khel Ratna award is given for the outstanding performances by a sportsperson over a period of the previous four years.
• A total of 10 coaches are picked for the Dronacharya awards.
• T. P. Ouseph (Athletics), Sarkar Talwar (Cricket), Sarpal Singh (Hockey), Ashan Kumar (Kabaddi), and Tapan Kumar Panigrahi (Swimming) are selected for Dronacharya awards in the lifetime achievement category.
• Radhakrishnan Nair P (Athletics), Sandhya Gurung (Boxing), Pritam Siwach (Hockey), Jai Prakash Nautiyal (Para Shooting), and Subramanian Raman (Table Tennis) are selected in the regular Dronacharya category.

Topic: Biotechnology and Diseases

5. COVID vaccine ‘Covaxin’ gets WHO approval for emergency use.

• The World Health Organisation (WHO) granted approval to India’s first indigenous Covid vaccine– Covaxin– for emergency use listing (EUL).
• It will also remove uncertainties around overseas travel by Indians inoculated with this vaccine.
• Covaxin has been developed by Hyderabad-based Bharat Biotech and the Indian Council of Medical Research.
• The technical advisory group has recommended ‘Covaxin’ for emergency use listing. The technical advisory group of WHO is responsible to grant emergency approval.
• COVID vaccine ‘Covaxin’ has shown 77.8 percent effectiveness against symptomatic COVID-19 and 65.2 per cent protection against the new Delta variant.
• Now, Covaxin can be used in many countries like Guyana, Iran, Mauritius, Mexico, Nepal, and Paraguay.
• Besides Covaxin, the WHO has approved Pfizer-BioNTech, US pharma majors Johnson & Johnson, Moderna, China’s Sinopharm and Oxford-AstraZeneca vaccines for emergency use.

Topic: Defense News

6. DRDO conducts successful flight tests of indigenously-developed smart anti-airfield weapon.

• The Defence Research and Development Organisation (DRDO) and Indian Air Force jointly have conducted two flight tests of an indigenously developed smart anti-airfield weapon in Jaisalmer.
• Electro-optical seeker-based flight test of this class of bomb has been conducted for the first time in India. The weapon has been launched by an IAF aircraft from Chandan ranges at Jaisalmer.
• During the trials, the intended target has been hit with high accuracy. The weapon has been designed for a maximum range 100 kilometres.
• The Electro optical configuration of the system is equipped with Imaging Infra-Red (IIR) Seeker technology. It will enhance precision strike capability of the weapon.
• All the objective of the mission has been achieved. The telemetry and tracking system captured all events throughout the flight.
• Smart anti airfield weapon has been designed and developed by Research Centre Imarat (RCI) in Collaboration with other DRDO Laboratories.

Topic: Miscellaneous

7. US Congress introduce Diwali Day Act to declare Diwali as federal holiday.

• The United States congress introduce " Deepavali Day Act" to declare Diwali as federal holiday.
• New York Congresswoman Carolyn B Maloney urged to make Diwali a national holiday in the United States.
• This historic legislation has been co-sponsored by many lawmakers including Indian-American Congresswoman Raja Krishnamoorthi.
• Indian-American Representative Raja Krishnamoorthi introduced a resolution to recognize the festival of lights' religious and historical significance.
• On the occasion of Diwali, United States postal service has issued a commemorative Diwali stamp. 

Topic: MoUs/Agreements

8. Rural development ministry inked an MoU with Flipkart under the Deendayal Antyodaya Yojana.

• The rural development ministry has signed an MoU with Flipkart to sell products made by millions of artisans under the Deendayal Antyodaya Yojana- National Rural Livelihood Mission (DAY-NRLM).
• The MoU has been signed as part of the Flipkart ‘Samarth program’ and it aims to provide skills to craftsmen, weavers and artisan through the Flipkart marketplace.
• Flipkart Samarth program was launched in 2019 to provide a platform to underserved domestic communities and businesses with better opportunities and livelihoods.
• The MoU will empower local businesses and self-help groups (SHGs) led by women. Rural products of SHGs have potential to get acceptance among the masses in India.
• At present, over 9,50,000 artisans, weavers and craftsmen are getting support from the Flipkart Samarth.
• The government is also planning to sign an MoU with Amazon to provide a platform for the online sale of SHGs' products.

Topic: State News/ Delhi

9. Delhi government launched Jai Bhim Mukhyamantri Pratibha Vikas Yojana.

• Delhi government launched Jai Bhim Mukhyamantri Pratibha Vikas Yojana to provide free coaching to 15,000 students belonging to marginal communities and economically weaker sections.
• This scheme has been launched for school children who want to become doctors, engineers, civil servants or serve any other government jobs.
• Government will provide free coaching to 15,000 students of marginal communities and economically weaker sections.
• This scheme has been launched by the Social Welfare and Women and Child Development department of the Delhi Government.
• The benefit of the scheme can be obtained by parents have an annual income of up to ₹8 lakhs.
• Delhi government has tied up with 46 private coaching centres for implementing the Jai Bhim Mukhyamantri Pratibha Vikas scheme.
• This scheme will cover a wide range of competitive exams including UPSC, CDS, banking exams, medical and engineering entrances.

Topic: Banking System

10. Reserve Bank of India issued revised PCA framework for banks.

• RBI issued revised Prompt Corrective Action (PCA) framework for banks to enable supervisory intervention at "appropriate time".
• The revised PCA framework will become effective from 1 January, 2022.
• The main objective of the PCA Framework is to empower banks to take Supervisory intervention at an appropriate time.
• The PCA framework will act as a tool for effective market discipline. It will focus on Capital, asset quality and leverage for monitoring the revised framework.
• This framework will apply to all banks operating in India. A bank will be placed under the PCA framework based on the Audited Annual Financial Results and the ongoing Supervisory Assessment made by RBI.
• When a bank is placed under the PCA, several restrictions are placed like restriction on dividend distribution and remittance of profits.
• The Prompt Corrective Action (PCA) framework was last revised in April 2017.

Topic: Summits/ Conferences/ Meetings

11. India to organize Delhi Regional Security Dialogue on Afghanistan on 10th November.

• India will organize Delhi Regional Security Dialogue on Afghanistan on 10th November.
• NSA Ajit Doval will chair NSA level meeting. Central Asian countries as well as Russia and Iran have confirmed their participation.
• This is the first time all Central Asian countries, not just Afghanistan’s immediate land neighbours, will be participating in this format.
• Two earlier meetings in this format have been held in Iran in September 2018 and December 2019.
• The third meeting in India could not be held earlier due to the pandemic.
• China and Pakistan were also invited and their formal responses are awaited. Pakistan has not attended the previous meetings of this format too.

Topic: International News

12. India and Gambia inked two agreements for deepening bilateral relations.

• India and Gambia have inked two agreements for deepening bilateral relations.
• The agreements were signed during Minister of State for External Affairs V. Muraleedharan’s recent visit to Gambia.
• These agreements are Agreement on Exemption from Visa requirement for Holders of Diplomatic and Official Passports and a General Framework Agreement for Cooperation between India and Gambia.
• Gambia's Foreign Minister Dr. Mamadou Tangara and Mr Muraleedharan also jointly released the design of commemorative stamp, marking 75 years of India’s independence.

Topic: Awards and Prizes

13. South African writer `Damon Galgut wins Booker Prize for ‘The Promise’.

• South African writer Damon Galgut has won the Booker Prize for his book ‘The Promise’.
• He was previously shortlisted for “The Good Doctor” in 2003 and “In a Strange Room” in 2010 but couldn’t win the Prize.
• He is the third South African writer to win the Booker Prize after Nadine Gordimer and J.M.Coetzee.
• “The Promise” has been selected over five other novels. It has an extraordinary story with rich themes.
• The book is structured around a series of funerals over several decades. “A Passage North” and “The Fortune Men” are the other shortlisted novels.
• Scotland’s Douglas Stuart had won the Booker Prize for “Shuggie Bain in 2020.

Topic: Important Days

14. World Tsunami Awareness Day: 5 November

• World Tsunami Awareness Day is observed every year on 5 November. It is celebrated to spread awareness about the Tsunami.
• The tsunami that occurred in the Indian Ocean in 2004 was more hazardous than any disaster that occurred in the last 100 years. 14 countries were affected by the tsunami and the hardest hit country was Thailand.
• The UN General Assembly (UNGA) had declared 5 November as World Tsunami Awareness Day in 2014.
• In 2021, World Tsunami Awareness Day will focus on the ‘Sendai Seven Campaign’. It aims to enhance cooperation among developing countries for implementing Sendai Framework by 2030.
• A tsunami is a Japanese word that means ‘harbour wave’. It is a series of huge waves created underwater by a disturbance.