Sunday, October 31, 2021

DAILY CA: 29 OCT 2021

 DAILY CA: 29 OCT 2021

1.     SC APPOINTS 3-MEMBER EXPERT PANEL TO INVESTIGATE ON PEGASUS SPYWARE USAGE

·         A Supreme Court (SC) bench headed by Chief Justice of India (CJI) N V Ramana instituted a 3-member expert panel to investigate the issue on usage of ‘Pegasus Spyware’ on Indian Citizens during 2019.

·         3-member expert panel includes Naveen Kumar Chaudhary – He is a Cyber Security expert ,Prabaharan P –Expertise in Malware detection & Critical infrastructure security, Ashwin Anil Gumaste – currently an Associate Professor in IIT Bombay.

 

2.     “SAMBHAV” TO PROMOTE ENTREPRENEURSHIP IN INDIA

·         Narayan Tatu Rane, Union Minister of Micro, Small & Medium Enterprises (MSME)  launched ‘SAMBHAV’ an e-national level Awareness programme 2021 to promote the role of entrepreneurship towards the development of India.

·         SAMBHAV will be a one-month-long initiative under the Ministry of MSME(MoMSME).

·         Under this programme, the students from colleges and ITIs from across India will be encouraged by 130 field offices of the MoMSME to take up entrepreneurship.

 

3.     RBI’S HOLDING OF GOLD IN FOREX RESERVES INCREASED 11% Y-O-Y

·         The Reserve Bank of India (RBI) released its 37th half yearly report namely ‘Management of Foreign Exchange Reserves: April-September 2021’ stating an increase in apex bank’s holding of gold in foreign exchange reserves by about 11% (year-on-year) to 743.84 metric tonnes as on September-end 2021.

·         451.54 metric tonnes of gold is held overseas in safe custody with the Bank of England and the Bank for International Settlements (BIS), while 292.30 metric tonnes of gold is held domestically.

 

4.     TIMES HIGHER EDUCATION’S WORLD REPUTATION RANKINGS 2021

·         4 Indian institutes have made it to the Times Higher Education(THE)’s World Reputation Rankings 2021, the annual ranking of THE that features the top 200 universities based on the votes from leading academics across the globe.

·         Indian Institute of Science (IISc) Bengaluru ranked among the top 100(91-100) has topped the Indian Institutes.

·         The other 3 Indian institutes are the Indian Institute of Technology(IIT) Bombay, the Indian Institute of Technology(IIT) Delhi, and the Indian Institute of Technology(IIT) Madras.

·         Harvard University of the United States of America (USA) has topped the 2021 ranking followed by Massachusetts Institute of Technology (MIT), USA and University of Oxford from the United Kingdom(UK) has secured the 2nd and 3rd rank respectively.

 

5.     K V KAMATH AS CHAIRPERSON OF NABFID

·         The government appointed K V Kamath, as chairperson of the newly set up Rs 20,000 crore National Bank for Financing Infrastructure and Development (NaBFID), a newly set up Development Financial Institution (DFI) in India, Department of Financial Services (DFS), under the finance ministry.

·         National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 supports the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.

 

6.     PM MODI RECONSTITUTED THE 7 MEMBER EAC TO PM FOR 2 YEARS

·         Prime Minister (PM) Narendra Modi has approved to reconstitute the 7 member Economic Advisory Council (EAC) to the Prime Minister (EAC-PM) following the end of its tenure in September 2021.

·         The EAC-PM has been reconstituted for a period of two years or until further orders.

·         Noted economist and NITI Aayog member Bibek Debroy will continue as the Chairman of the reconstituted EAC-PM.

·         PM Modi has inducted 3 new part-time members for a period of 2 years, they are,Rakesh Mohan, former deputy governor of Reserve Bank of India, T.T Ram Mohan, Professor of IIM Ahmedabad, Poonam Gupta, Director-General of National Council of Applied Economic Research (NCAER).

·         EAC-PM was set up in September 2017 with a term of two years, and was reconstituted previously in 2019.

·         It was established replacing the erstwhile PMEAC headed by former Reserve Bank of India (RBI) governor C. Rangarajan during the term of former PM Manmohan Singh.

·         Functions of EAC-PM:

1.     To analyse any issue, economic or otherwise, referred to it by the PM and advise him.

2.     Address the issues of macro-economic importance and present the views to the prime minister.

3.     Attend to any other task as may be desired by the PM.

 

7.     RBI APPROVES APPOINTMENT OF BALDEV PRAKASH AS J&K BANK MD & CEO

·         The Reserve Bank (RBI) has approved the appointment of Baldev Prakash as the  next Managing Director and Chief Executive Officer (CEO) of Jammu & Kashmir (J&K) Bank. 

·         Jammu & Kashmir Bank Tagline: ‘’Serving to Empower’’.

 

8.     INDIA SUCCESSFULLY TEST-FIRES AGNI 5 MISSILE OFF THE COAST OF ODISHA 

·         India successfully test-fired nuclear-capable Inter-Continental Ballistic Missile (ICBM) Agni-5, which has a strike range of 5,000 km, from Dr Abdul Kalam island off the Odisha coast.

·         The Agni series of ballistic missiles and warplanes such as Rafales, Sukhoi-30s and Mirage-2000s can deliver nuclear warheads.

 

9.     INTERNATIONAL ANIMATION DAY 2021 – OCTOBER 28 

·         International Animation Day (IAD) is annually observed across the globe on October 28th to commemorate the first public performance of projected moving images at Reynaud’s Theatre Optique in Paris, France on 28th October 1892. 

 

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