Roadmap for Banking of the Future
Daily Current Affairs – 04, 05 & 06 November 2021
Daily Current Affairs 04, 05 and 06 November 2021: This post contains the current affairs for 04, 05 and 06 November 2021 that are important for competitive exams like IBPS PO and Clerk, SBI PO and Clerk, RBI Assistant and Grade B, other Insurance exams. You can also attempt our Current Affairs Quiz after reading our daily current affairs.
National
PM Narendra Modi Unveils Shri Adi Shankaracharya Samadhi and Statue in Kedarnath
- Prime Minister Shri Narendra Modi visited Kedarnath in Uttarakhand on November 05, 2021 to inaugurate key infrastructure projects related to redevelopment of Kedarnath.
- PM inaugurated the reconstructed Shri Adi Shankaracharya Samadhi (final resting place) at the premises of the Kedarnath Temple in Rudraprayag district of Uttarakhand and unveiled the statue of Shri Adi Shankaracharya at the Samadhi. The Samadhi was damaged in the 2013 Kedarnath flood.
- The 12-feet long statue weighing around 35 tonnes (35,000kg) has been constructed by Mysore-based sculptor Arjun Yogiraj.
- During the visit PM Modi inaugurated and laid the foundation stone of several reconstruction projects worth over Rs 400 crore at Kedarpuri.
- The unveiling programmes of the statute was organized at the 12 Jyotirlingas and Jyotishpeeth across the country including Char Dhams (Badrinath, Dwarka, Puri and Rameshwaram).
Prime Minister Modi concludes five-day tour to Italy and UK for G20 Summit and COP26
- Prime Minister Shri Narendra Modi was on five-day official visit to Italy, the city-state of Vatican, and the United Kingdom to attend the G20 Summit in Rome and Conference of Parties (COP26) in Glasgow.
- PM Modi’s first destination was Rome where he attended the G20 summit and held bilateral meeting with the host and Italian PM Mario Draghi.
- In Vatican City, PM met Pope Francis and extended invitation to him to visit India.
- Finally, in Glasgow, the largest city of Scotland, PM Modi attended the 26th United Nations Climate Change Conference (COP26).
- Subsequently he also held bilateral meetings with world leaders on the sidelines of the COP-26 Summit, such as UK and Australian counterparts, President of Ukraine and Prime Ministers of Nepal and Israel and Finnish counterpart.
- During the Conference of Parties (COP26) Summit, Prime Minister Modi announced five “amrit tatva” or five commitments. These include:
- Increase the non-fossil fuel based energy capacity of the country to 500 GW by 2030.
- Meet 50% of the country’s energy requirements through renewable energy sources by 2030.
- Reduce one billion tonnes of carbon emissions from the total projected emissions by 2030.
- Bring down the carbon intensity of the economy by more than 45 percent by 2030.
- India would become carbon neutral and achieve net zero carbon emissions by the year 2070.
Home Minister Amit Shah launches ‘Ayushmaan CAPF’ Scheme health cards
- The Union Home Minister and Minister of Cooperation Shri Amit Shah launched the pan-India ‘Ayushmaan CAPF’ Scheme health cards in New Delhi on November 02, 2021.
- The ‘Ayushmaan CAPF’ Scheme was launched on Pilot basis in Assam on January 23, 2021 to provide healthcare services to all Central Armed Police Force (CAPFs) personnel and their dependants.
- The Scheme is a joint initiative of Ministry of Home Affairs (MHA), Ministry of Health and Family Welfare (MoHFW) and National Health Authority (NHA).
- Under the national level roll out, it is proposed to distribute about 35 lakh cards to beneficiaries across various CAPFs by December, 2021.
- The scheme will cover all serving personnel and their dependents of the seven Central Armed Police Forces under MHA.
India’s first rooftop drive-in theatre launched in Mumbai
- The first open air rooftop drive-in movie theatre in India has been inaugurated at Jio World Drive mall of Reliance Industries’ in Mumbai, Maharashtra on November 05, 2021.
- The drive-in theatre will be operated and managed by the multiplex chain PVR Ltd.
- The theatre has been launched in partnership with the Reliance Retail and multiplex chain PVR.
- The facility can accommodate around 290 cars.
- The first movie screened at the theatre was Akshay Kumar’s Sooryavanshi.
International
Yahoo Inc. stops its services in China w.e.f November 01
- Yahoo Inc. has announced that the company has stopped providing service in mainland China with effect from November 01, 2021 due to the increasingly challenging business and legal environment in the country.
- With this Yahoo has ended its 22-year presence in the Chinese market.
- This means that services like Yahoo Weather, Yahoo Finance, and other websites run by Yahoo such as AOL.com, TechCrunch and Engadget will not be accessible from within China.
- Earlier, US tech platform LinkedIn also annoced the closure of its localized social media network in China on October 14.
China launches earth science satellite, Guangmu
- China has launched an Earth science satellite named Guangmu into space from the Taiyuan Satellite Launch Center in the northern Shanxi Province.
- The satellite was launched via Long March-6 carrier rocket on November 05, 2021.
- Guangmu is the world’s first Earth-science satellite dedicated to serving the United Nations 2030 Sustainable Development Agenda.
Banking & Economy
RBI issues revised PCA Framework for banks
- The Reserve Bank of India has issued revised Prompt Corrective Action (PCA) Framework for Scheduled Commercial Banks and it will be effective from January 1, 2022.
- Objective of PCA framework: The PCA framework enables Supervisory intervention by RBI at an appropriate time and to initiate and implement remedial measures for the scheduled commercial banks in a timely manner, so as to restore its financial health.
- Monitoring areas in the revised PCA framework: Capital, Asset Quality and Leverage are the key areas that will be monitored by RBI for all banks.
- Indicators to be tracked: To keep track of Capital, Asset Quality and Leverage the indicators that would be tracked are: CRAR/ Common Equity Tier I Ratio, Net NPA Ratio and Tier I Leverage Ratio respectively. i.e to track Capital of a bank RBI will see RAR/ Common Equity Tier I Ratio of the bank, to track Asset Quality of the bank, RBI will track Net NPA Ratio of the bank, similarly, to track Leverage of the bank, RBI will track Tier I Leverage Ratio of the bank.
- On which banks PCA will be applicable: The PCA Framework would apply to all banks operating in India including foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators.
- Exit from PCA and Withdrawal of Restrictions under PCA: When a bank is placed under PCA by RBI, then withdrawal of restrictions imposed under the PCA Framework will be considered under two circumstances
- if no breaches in risk thresholds in any of the parameters are observed as per four continuous quarterly financial statements, one of which should be Audited Annual Financial Statement (subject to assessment by RBI); and
- based on Supervisory comfort of the RBI, including an assessment on sustainability of profitability of the bank.
Finance Ministry issues uniform staff accountability framework for NPA accounts up to Rs 50 crore
- Department of Financial Services (DFS), under the finance ministry, has issued guidelines to be adopted by all public sector banks (PSBs) on Staff Accountability Framework for NPA Accounts up to Rs. 50 crore’.
- These guidelines will be applicable on loans that are turning into non-performing assets (NPAs) on or after April 1, 2022. Thses shall not be applicable on fraud cases.
- Banks with the approval of their Board may decide on a threshold of Rs 10 lacs or Rs 20 lacs depending on their business size for examining the aspect of staff accountability.
PhonePe launched tokenisation solution ‘SafeCard’ to help users meet RBI norms
- Digital Payment firm, PhonePe has launched a tokenization solution named ‘SafeCard’ for online debit and credit card transactions.
- Earlier in September 2021, RBI had made device-based tokenization framework applicable to Card-on-File Tokenisation (CoFT) services as well i.e Card-on-File (CoF) means that the Credit/Debit card details are stored by merchants for ease of payment.
- Hence now many payment firms will launch this tokenization solution. Here are some tokenisation solutions launched in recent times:
- PhonePe- ‘SafeCard’
- PayU- ‘PayU Token Hub’
- CCAvenue- ‘TokenPay’
Defence
Indian Air Force Mirage 2000s takes part in Blue Flag exercise in Israel
- The Mirage 2000 aircraft squadron of the Indian Air Force took part in the Blue Flag 2021 international exercise in Israel.
- The biennial event was held at Ovda Air Force Base in Israel from October 17 to October 28, 2021. It is organised by the Israeli Air Force since 2013
- Overall eight nations participated in the multinational air combat exercise Blue Flag to strengthen cooperation between the nations.
- Apart from Israel, seven other countries which took part in the war games were Germany, Italy, Britain, France, India, Greece and the US.
- From India, Indian Air Force Mirage 2000s was deployed at the exercise.
- It was for the first that India, France and Germany featured in the exercise.
Damon Galgut wins 2021 Booker Prize for “The Promise”
- South African writer Damon Galgut has been awarded with the prestigious 2021 Booker Prize for Fiction on November 3, 2021.
- Galgut has won the prize for his novel`The Promise’.
- The Booker Prize for Fiction, (formerly known as the Booker–McConnell Prize (1969–2001) and the Man Booker Prize (2002–2019)), is a literary prize awarded each year for the best original novel written in the English language and published in the United Kingdom. It carries £50,000 prize ($69,000).
Appointment
Rahul Dravid appointed head coach of Indian men’s cricket team till 2023 ODI World Cup
- Former captain Rahul Dravid has been appointed as the head coach of the Indian men’s cricket team by the BCCI.
- The former right-handed batsman has been appointed for a period of two years till the 2023 50-over World Cup.
- Dravid will begin his tenure as full-time coach from the T20I series against New Zealand starting November 17, 2021 in Jaipur.
Indian-origin C.S. Venkatakrishnan appointed as CEO of Barclays
- Indian-American banker C.S. Venkatakrishnan (known as Venkat) has been appointed as the group chief executive (CEO) of the British multinational bank Barclays on November 01, 2021
- He replaces Jes Staley, who stepped down recently, after serving the post since 2015.
- Venkat was born in Mysore, Karnataka.
- He joined Barclays in 2016 as chief risk officer and in October 2020 became the head of global markets and co-president of BBPLC.
Indian Boxer Akash Kumar settles for bronze in 2021 AIBA Men’s World Championships
- Indian boxer Akash Kumar managed to clinch bronze medal at the 2021 AIBA Men’s World Boxing Championships on November 05, 2021 at Belgrade in Serbia.
- The 21-year-old Akash lost 0-5 in the 54 kg category to Makhmud Sabyrkhan of Kazakhstan.
- Akash is the seventh Indian male boxer to win a medal at the world championships.
Days
World Tsunami Awareness Day: 5 November
- The World Tsunami Awareness Day is observed ever year on November 5 to raise awareness in areas such as tsunami early warning, public action and building back better after a disaster to reduce future impacts..
- The day was designated by the UN General Assembly in December 2015.
- It was on December 26, 2004 that a devastating Tsunami in the Indian ocean created havoc in 14 countries, killing over 230,000 people.
- In 2021, World Tsunami Awareness Day will promote target (f) of the “Sendai Seven Campaign” which aims to “Substantially enhance international cooperation to developing countries through adequate and sustainable support to complement their national actions for implementation of the present Framework by 2030.”
International Day for Preventing the Exploitation of the Environment in War and Armed Conflict: 06 November
- The International Day for Preventing the Exploitation of the Environment in War and Armed Conflict is an international day observed annually on November 6.
- It was established on November 5, 2001 by the United Nations General Assembly, during Kofi Atta Annan’s tenure as Secretary-General.
