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General Awareness

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Daily G.K. - Top Stories

03 May 2021

DAILY G.K. TEST

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INTERNATIONAL AFFAIRS

US Denies Iran's Claims of Prisoner, Cash Swap

  • The United States denied a report by Iran's state-run television broadcaster that deals had been reached between the Islamic Republic, Washington and the United Kingdom that would see prisoners swapped and Tehran receive billions of dollars.
  • The announcement by state television, relying on an unnamed source, comes amid a wider power struggle between hard-liners and the relatively moderate government of Iranian President Hassan Rouhani. That conflict only has grown sharper as Iran approaches its June 18 presidential election.
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ENVIRONMENT

Antarctic Ice Sheet Melting to Push Sea Level

  • Researchers have warned that the global sea level rise caused by melting of the West Antarctic Ice Sheet is likely to increase 20 per cent by the end of this century.
  • The global sea level rise linked to melting of the West Antarctic Ice Sheet has been significantly underestimated in previous studies, meaning sea level in a warming world will be greater than anticipated, said researchers from Harvard University in the US.
  • This occurs when the solid bedrock the West Antarctic Ice Sheet sits on rebounds upward as the ice melts and the total weight of the ice sheet decreases. The bedrock sits below sea level so when it lifts, it pushes water from the surrounding area into the ocean, adding to global sea level rise.
  • One simulation indicated that by the end of this century global sea level rise caused by melting of the West Antarctic Ice Sheet would increase 20 per cent by the water expulsion mechanism.
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BUSINESS AND ECONOMY

Reserve Bank to Strengthen Risk-based Supervision of Banks, NBFCs

  • The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges.
  • The RBI uses the RBS model, including both qualitative and quantitative elements, to supervise banks, urban cooperatives banks, non-banking financial companies and all India financial institutions.
  • It is now intended to review the supervisory processes and mechanism in order to make the extant RBS model more robust and capable of addressing emerging challenges, while removing inconsistencies, if any," the RBI said while inviting bids from technical experts/consultants to carry forward the process for banks.

Turkey Adds Cryptocurrency Exchanges to Terror Funding Regulations

  • A presidential decree published added cryptocurrency exchanges to a list of firms covered by Turkey's terror financing and money laundering.
  • According to a presidential decree published, the decision will take immediate effect and will make it easier for the financial watchdog to investigate digital-currency holdings.
  • The move came after a ban on using cryptocurrencies for making payments, which was introduced in response to claims that such transactions are too risky, took effect in Turkey.
  • The presidential decree makes "crypto asset service providers" responsible for seeing their assets are not used illegally.
  • Turkish authorities last month launched fraud investigations into two cryptocurrency exchanges, Thodex and Vebitcoin.

Yes Explores Bid for Citi's Indian Assets

  • Private lender Yes Bank is exploring a potential bid for the Indian retail assets of Citibank, joining a list of suitors eyeing the local operations of the foreign bank that is partially exiting 13 countries.
  • Yes Bank will look at acquiring Citi's retail assets, including credit cards and wealth management in India, chief executive Prashant Kumar said.
  • We would definitely explore that opportunity; I think they are running a process. Once all of that is in the public domain, we would definitely like to explore not only credit cards, but also wealth management and retail business. Then, depending on our appetite, we would take a call," he said in an interview.
  • Citibank India has 35 branches and serves 29 lakh retail customers, including 12 lakh bank accounts and 22 lakh credit card accounts. It has a 6% market share of retail credit card spends in India. Yes Bank has a credit card base of 9,47,000, with spends at Rs. 2,288 crore as on March 31.
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SCIENCE & TECHNOLOGY

Vodafone Joins Google Cloud on Data Analytics

  • Vodafone Group PLC and the cloud division of Alphabet Inc.'s Google are planning to jointly develop data services, citing interviews with representatives from both companies. As per reports, about 1,000 workers in the U.K., Spain and the U.S. will be asked to create "Nucleus," the new cloud-based storage and analytics portal, which will host Vodafone's data. Nucleus will be able to process around 50 terabytes of data a day within the cloud.
  • As part of the six-year agreement Vodafone will transfer data from its own servers to Google Cloud.
  • Vodafone and Google will also invent a system, called Dynamo, that will extract and transport data across different countries where the telecoms company operates.
  • The two companies will also in the future seek to sell consultancy services to other multinational businesses seeking to move huge amounts of data to the cloud.

NASA's Crew-1 Astronauts Safely Splash Down

  • NASA's Space X Crew-1 astronauts truly deserve a big hand as after surviving 167 days in space, the longest duration mission for a U.S. spacecraft since the final Skylab mission in 1974, Dragon and the Crew-1 astronauts returned safely to Earth.
  • The four Crew-1 astronauts splashed down in the Gulf of Mexico right on schedule, returning to Earth after a six-month stay on the International Space Station.
  • The astronauts — three Americans and one from Japan — had undocked from the station, flew through the atmosphere and then touched down in the Gulf of Mexico under four massive parachutes.
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NATIONAL AFFAIRS

Assembly Election 2021 Results

  • The official results for the high-stakes assembly elections held in four states and one Union Territory are almost out now for the majority of the constituencies and barring West Bengal, the predictions of exit polls remained more or less close to the actual results and trends in Assam, Tamil Nadu, Kerala and Puducherry.
  • As per reports, the Mamata Banerjee-led Trinamool Congress (TMC) has retained power in West Bengal for the third consecutive time, whereas, the Left Democratic Front (LDF) headed by Pinarayi Vijayan has made the first re-election in 44 years. In Tamil Nadu, MK Stalin's Dravida Munnetra Kazhagam (DMK) has dethroned incumbent Edappadi K Palaniswami's All India Anna Dravida Munnetra Kazhagam (AIADMK), while the Bharatiya Janata Party-led alliances (BJP) have won in Assam and Puducherry.
  • The LDF broke Kerala's record of voting out every incumbent government for the past four decades and made the first re-election in over 44 years.

S. Jaishankar on Four-day Visit to London for G7 Foreign Ministers' Meet

  • External Affairs Minister S. Jaishankar is on a four-day visit to London primarily to attend a meeting of Foreign Ministers of Group of Seven (G7) rich nations. The United Kingdom has invited India for an in-person G7 Foreign Ministers meeting, for which FMs of Australia, South Korea, South Africa, and the Chair and Secretary-General of the Association of Southeast Asian Nations (ASEAN) have also been invited.
  • External Affairs Minister will be visiting London from 3-6 May 2021 to participate in the G7 Foreign Ministers Meeting, at which India has been invited as a guest country. He will thereafter undertake a bilateral visit to the UK.
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DEFENCE

Hanwha Defence Ready to Offer New Light Tank to Indian Army

  • South Korea's Hanwha Defence is pushing a new combat vehicle with a 105mm turret mounted on its K21 chassis for the Indian Army
  • Just last week, the Indian Army released Request for Information (RFI) to seek prospective vendors to procure around 350 light tanks in a phased manner under the Make in India initiative.
  • Indian Army plans to procure versatile combat platforms, weighing less than 25 tons, to sharpen its edge in mountain warfare as they will be able to exploit the limited space available in mountainous terrains by way of enhanced mobility, thus providing additional firepower.
  • The RFI stated that the Defence Ministry intends to procure a new generation combat vehicle platform, approximately 350 Light Tanks in a phased manner, along with performance-based logistics, niche technologies, engineering support package, and other maintenance and training requirements. The last date of acceptance of receipt of response is June 18, 2021.
  • One potential option could be a proposal from a South Korean company based on its K21-105 tank.
  • Hanwha Defence says the vehicle has a 105mm turret mounted on a K21 infantry fighting vehicle chassis. It has strong firepower and manoeuvrability that enables the vehicle to perform a wider variety of tactical operations than main battle tanks.
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PERSONS IN NEWS

Former National Selector Kishan Rungta Dies

  • Former BCCI selector and Rajasthan captain Kishan Rungta died in Jaipur. He was 88.
  • Rungta served as a national selector from Central Zone in 1998. He played 59 first-class games between 1953 to 1970, scoring 2717 runs.
  • His late elder brother Purushottam was a BCCI treasurer in the 1970s. Purushottam's son Kishore held the same position in the early 2000s.
  • The Rungta family dominated Rajasthan cricket for nearly five decades before Lalit Modi beat them in the elections and wrested control in the mid-2000s.
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DAYS AND EVENTS

World Press Freedom Day

  • The United Nations General Assembly declared May 3 to be World Press Freedom Day or just World Press Day, observed to raise awareness of the importance of freedom of the press and remind governments of their duty to respect and uphold the right to freedom of expression enshrined under Article 19 of the 1948 Universal Declaration of Human Rights and marking the anniversary of the Windhoek Declaration, a statement of free press principles put together by African newspaper journalists in Windhoek in 1991.
  • The 2021 World Press Freedom Day theme "Information as a Public Good" serves as a call to affirm the importance of cherishing information as a public good, and exploring what can be done in the production, distribution and reception of content to strengthen journalism, and to advance transparency and empowerment while leaving no one behind. The theme is of urgent relevance to all countries across the world. It recognizes the changing communications system that is impacting on our health, our human rights, democracies and sustainable development.
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GOVERNMENT POLICIES AND SCHEMES

SIDBI Launches SHWAS and AROG Loan Schemes for MSMEs

  • The Small Industries Development Bank of India (SIDBI) has launched two loan products for MSMEs to help them with the required financial support in the fight against the COVID-19 pandemic. These two new quick credit delivery schemes will facilitate funding for production and services related to the supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs by MSMEs.
  • The two new loan products are:
  • SHWAS – SIDBI assistance to Healthcare sector in War Against Second wave of COVID19.
  • AROG – SIDBI Assistance to MSMEs for Recovery & Organic Growth during COVID19 pandemic.
  • The schemes are devised under the guidance of the Government of India (GoI) which facilitates funding for production and services related to the supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs.
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GENDER/ HEALTH/ EDUCATION

Calicut University Begins Online Application Process for UG, PG Entrance Exams

  • The Calicut University, Kerala, will be admitting undergraduate (UG) and postgraduate (PG) admissions 2021 on the basis of entrance test and other criteria. The university has issued individual prospectuses for CU (UG and PG) admission 2021 at the official website i.e. cuonline.ac.in.
  • The eligible and interested candidates can apply online for admission as per the schedule indicated in the prospectus. The last date to apply for admissions is May 10, 2021.
  • The Calicut University admission forms 2021 have already been released online at the official website. The list of various courses offered by the university is mentioned on the official website. Candidates may note that admission to most UG programmes such as BHM and BCom (Hons) will be done on the basis of marks secured in the entrance test. Similarly, for PG programs such as MA, MSc and MCom, admission will be done on the basis of marks secured in the entrance test.
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