DAILY GK: 23, 24 MAY 2021

 DAILY GK: 23, 24 MAY 2021

1. BRICS ASTRONOMY WORKING GROUP (BAWG)

•     India virtually hosted the 7th meeting of BRICS Astronomy Working Group (BAWG) meeting of Brazil, Russia, India, China, and South Africa in online mode at Inter-University Centre for Astronomy and Astrophysics (IUCAA), Pune (Maharashtra).

•     The participants recommended the networking of existing Telescopes in BRICS countries and creating a regional Data Network.

 

2. FDI IN INSURANCE SECTOR INCREASED TO 74%

•     The Ministry of Finance notified the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021 which increases the Foreign Direct Investment (FDI) limit in the Insurance sector to 74% from the existing 49%.

•     Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021 has amended the Indian Insurance Companies (Foreign Investment) Rules, 2015.

•     Insurance penetration in India stands at 3.7% of the GDP compared to the Global average of 6.31%.

 

3. IMF PROPOSES PLAN TO VACCINATE EVERYONE BY 2022

•     The International Monetary Fund (IMF) has put forth an USD 50 Billion proposal to end the COVID-19 Pandemic, it has set a target of vaccinating at least 40% of the world’s population by end of 2021 & remaining 60% by first half of 2022.

•     The proposal was drafted by IMF Chief Economist Gita Gopinath and Staff Economist Ruchir Agarwal.

•     It states that vaccinating the entire global population would inject the equivalent of USD 9 trillion into the global economy by 2025 due to fast resumption of economic activity.

•     The proposal was elaborated by the IMF during the Global Health Summit 2021 hosted by Italy (G20 2021 Presidency).

 

4. RBI TRANSFER OF RS 99,122 CRORE AS SURPLUS TO GOVT

•     RBI approved the transfer of Rs 99,122 crore as surplus to the Central government for the accounting period of 9 months from July 2020 to March 2021 under the 589th virtual meeting of the Central Board of Directors of the RBI.

•     The current surplus fund transfer is 50 percent higher than Rs 57,128 crore, the transfer approved in the accounting year 2019-2020.

•     The meeting was held under the chairmanship of Shaktikanta Das, RBI governor.

 

5. LIC HIKED ITS STAKE IN UNION BANK TO OVER 5%

•     The Life Insurance Corporation of India (LIC) acquired around a 2 percent stake in the state-run Union Bank of India(UBI) and hiked its stake hold in UBI to 5.06 percent.

•     Earlier, the LIC held a 09 percent stake in UBI, representing 19,79,23,251 equity shares of the bank, now it was increased to 5.06 percent (34,57,64,764 shares).

 

6. ‘INS RAJPUT’ DECOMMISSIONED

•     Indian Navy’s 1st destroyer INS Rajput was decommissioned at Naval Dockyard, Visakhapatnam, Andhra Pradesh after 41 years of service (commissioned on May 4, 1980).

•     It was the 1st Indian Navy ship to be associated with an Indian Army Regiment – ‘Rajput regiment’, and the 1st ship to be fitted with anti-ship supersonic cruise missile ‘Brahmos’ in 2005.

 

7. FIRST DRONACHARYA AWARDEE COACH PASSED AWAY

•     India’s first Dronacharya awardee coach in boxing, Om Prakash Bhardwaj(O P Bhardwaj) passed away after battling prolonged illness and age-related ailments in New Delhi.

•     In 1985, O P Bhardwaj was awarded the Dronacharya Award, India’s highest award in the field of coaching of sports and athletics.

•     He was the founder of the Boxing Coaching Department at the National Institute of Sports, Patiala and served as chief coach from 1975 to 1988.

 

8. ANTI TERRORISM DAY 2021

•     Anti Terrorism Day is annually observed across India on 21st May to wean away youth from Terrorism and to highlight the suffering of the common Public and its effect on the National Interest.

•     The day also marks the Death Anniversary of former Prime Minister Rajiv Gandhi.

•     21st May 2021 marks the 30th death anniversary of Rajiv Gandhi.

 

9. FIRST STATE TO REIMBURSE GST ON COVID-RELATED DONATIONS

•     Haryana became the first state in the Country to reimburse Goods and Services Tax (GST) paid on Covid-related donations made to the state and state-run organisations. 

•     This will be applicable till June 30.

•     To encourage efforts by corporations, NGOs and individuals in facilitating donations of Oxygen Concentrators, Covid-19 Vaccines, Remdesivir Injections, etc.

•     The 15 items eligible for reimbursement include Oxygen Concentrator, Oxygen filling systems, Oxygen storage tanks, Oxygen Generators, Vaccine, Remdesivir, Ventilators, etc.