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Daily G.K. - Top Stories

31 Dec 2021

DAILY G.K. TEST

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INTERNATIONAL AFFAIRS

Pakistan Cabinet Approves IMF Mandated Supplementary Budget

  • Pakistan's cabinet approved a supplementary budget which plans to end exemptions on sales tax and levy new duties as part of fiscal tightening measures aimed at winning funding from the International Monetary Fund (IMF).
  • The IMF approval is also a pivotal endorsement for Pakistan's economy which is struggling with external and current account deficits, a depreciating currency, struggling foreign reserves and rising inflation.
  • The IMF agreed last month to revive a stalled $6 billion funding programme but demanded further budgetary tightening from Pakistan before the next tranche could be approved.
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BUSINESS AND ECONOMY

IDFC FIRST Bank Begins Process for 3-way Merger

  • Private lender IDFC FIRST Bank has set in motion the process of merging IDFC Ltd and IDFC Financial Holding Company with itself.
  • Both entities form part of the bank promoter group. The bank, however, did not elaborate on the timeline for the merger. The board of directors of the bank at its meeting considered the merger proposal. It was, in principle, in favour of it.
  • The boards of IDFC and IDFC Financial Holding Company too have given the nod for it.

Vasudevan PN Reappointed as MD & CEO of Equitas Small Finance Bank

  • Vasudevan Pathangi Narasimhan was reappointed as the Managing Director (MD) & Chief Executive Officer (CEO) of Equitas Small Finance Bank Limited (ESFBL) for three years (from July 23, 2022, to July 22, 2025), by the Board of Directors (BoD). He is currently serving as the MD and CEO of the bank.
  • Earlier he was working as the MD of Equitas Holdings Limited. He holds a bachelor's degree in science (physics) from the University of Madras. A qualified company secretary from the Institute of Company Secretaries of India, he has extensive experience in the financial services sector.

ICICI Prudential Life Insurance's New Term Plan Offers 105% Return

  • ICICI Prudential Life Insurance launched a new term plan offering 105 per cent return of the premium paid at age of 60 or 70 or on policy maturity as the policy auto-adjusts the life cover based on the changing life-stages of the insured. The new policy, ICICI Pru iProtect return of premium, also offers an option to take cover against 64 critical illnesses.
  • The customer-centric proposition offering life-stage based cover wherein the quantum of life cover is automatically adjusted based on the customer's life stages, the new policy offers 105 per cent return of the premium paid on survival, besides providing cover against 64 critical illnesses, which is it claimed is one of the highest in the industry.
  • The new policy also offers two variants - life stage cover and level cover. The life-stage cover offers a feature that auto adjusts the sum assured or life cover based on the life-stage of customers and enables customers to increase their life cover when it matters the most as responsibilities grow in the initial stages. Also, it automatically reduces the life cover as responsibilities come down in the later life stages.
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SCIENCE & TECHNOLOGY

Iran Launches Satellite Carrier Rocket into Space

  • Iran launched a satellite carrier rocket bearing three devices into space, though it's unclear whether any of the objects entered orbit around the Earth.
  • Iran's semiofficial news agencies, did not say when the launch was conducted nor what devices the carrier brought with it. However, the launch comes amid difficult negotiations in Vienna over Iran's tattered nuclear deal.
  • Previous launches have drawn rebukes from the United States. The US State Department, Space Force and the Pentagon did not immediately respond to requests for comment.
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SPORTS

Quinton de Kock Announces Retirement from Test Cricket

  • South Africa's star wicketkeeper-batter Quinton de Kock announced his retirement from Test cricket with immediate effect, said the country's apex body, CSA, hours after the team's defeat in the first Test against India.
  • A former Test captain, De Kock is believed that he will continue playing in the white-ball formats for the Proteas, with a lot of focus on franchise-based T20 leagues.
  • De Kock has cited his intentions to spend more time with his growing family for the timing and reason for his relatively early retirement from the format.

Mandhana among Nominees for ICC Women's T20 Player of the Year Award

  • India opener Smriti Mandhana was nominated for the ICC Women's T20 Player of the Year 2021 award along with three more cricketers.
  • Besides Mandhana, England cricketers Tammy Beaumont and Nat Sciver and Ireland's Gaby Lewis are the other contenders for the honour.
  • In 2021, Mandhana scored 255 runs in nine T20 matches at an average of 31.87 with two half-centuries.
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NATIONAL AFFAIRS

Tamil Nadu Appoints Sivarajah Ramanathan as Tansim CEO

  • The government of Tamil Nadu has appointed Sivarajah Ramanathan, an IT and social entrepreneur, as the new chief executive officer of Tamil Nadu Startup and Innovation Mission (Tansim)
  • Tansim, also known as Startup TN, works towards making Tamil Nadu an innovation-driven economy. Tansim's mission is to be the driving force for startups and to build a strong, viable and vibrant start-up ecosystem that creates employment and develops economic growth.

Anupam Ray India's New Permanent Representative at UN Conference on Disarmament

  • Senior diplomat Anupam Ray was appointed as India's next permanent representative to the UN Conference on Disarmament in Geneva.
  • Mr. Ray, a 1994-batch Indian Foreign Service officer, is currently serving as a joint secretary in the MEA's headquarters in Delhi.
  • Mr. Ray will succeed Pankaj Sharma.
  • Mr. Sharma, a 1991-batch Indian Foreign Service officer, has been appointed as India's next ambassador to Mexico.

Samajwadi Party Leader Shatarudra Prakash Joins BJP

  • In a setback to the Samajwadi Party (SP), its MLC and former Uttar Pradesh minister Shatarudra Prakash joined the BJP at the saffron party's state headquarters.
  • A socialist since his student days, Mr. Prakash joined the BJP in the presence of the party's state unit chief Swatantra Dev Singh.
  • Mr. Prakash, who joined politics while studying in the Banaras Hindu University (BHU), was elected as a member of the Legislative Assembly for the first time in 1974 from Varanasi Cantonment as a Socialist Party nominee. Three years later, he was again elected from the same constituency as a Janata Party candidate.
  • Mr. Praksh won the polls as a Lok Dal candidate in 1985 and as a Janata Dal nominee in 1989. He was a cabinet minister in the Uttar Pradesh government headed by Mulayam Singh Yadav.
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DEFENCE

India, Philippines Set to Conclude BrahMos Missile Deal

  • As per reports, India and the Philippines are set to formally seal a government-to-government BrahMos deal soon, capping years of negotiations for the supply of a batch of the supersonic cruise missiles for the Philippine navy.
  • The procurement is expected to signal a major upswing in India's strategic ties with the Philippines which has been focusing on ramping up its naval prowess in the face of its lingering friction with China in the South China Sea.

ITBP DG Sanjay Arora to Hold SSB Additional Charge

  • ITBP director general Sanjay Arora will hold the additional charge of another border guarding force Sashastra Seema Bal (SSB) as the latter's chief Kumar Rajesh Chandra is set to retire on December 31. Arora, a 1988-batch officer of Tamil Nadu cadre, was appointed the Indo-Tibetan Border Police (ITBP) DG in August and he took charge of the India-China LAC guarding force on September 1. The SSB is primarily tasked to guard unfenced Indian borders with Nepal and Bhutan.
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PERSONS IN NEWS

Indian Football: Former Goalkeeper Kanai Sarkar Passes Away

  • The All India Football Federation condoled the death of former Indian national team goalkeeper Kanai Sarkar, who passed away.
  • Kanai Sarkar made his national team debut in September 1971, in a friendly match against the USSR, and was also a part of the Bengal team which went to Tehran to participate in the Asian Club Cup in 1970.
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AWARDS AND HONOURS

Winners of Sahitya Akademi Award 2021

  • Tamil writer Ambai, author Namita Gokhale, TMC MLA Bratya Basu and noted Punjabi writer Khalid Hussian were among the 20 names announced for the Sahitya Akademi Award 2021.
  • The annual awards, given in 20 Indian languages, included seven books of poetry, two novels, five short stories, two plays, one book each of biography, autobiography, criticism and epic poetry.
  • The awards for Gujarati, Maithili, Manipuri and Urdu languages would be announced at a later date.
  • The books were selected on the basis of recommendations made by a jury of three members in the concerned languages in accordance with the procedure laid down for the purpose.
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GENDER/ HEALTH/ EDUCATION

PM Modi Lays Foundation of Major Dhyan Chand Sports University

  • Prime Minister Narendra Modi laid the foundation for the Major Dhyan Chand Sports University. As per reports, the university will be established at an estimated cost of Rs. 700 crore at the Salawa and Kaili villages of the Sardhana town in Meerut.
  • The sports university will have the capacity of training 1,080 sportspersons, including 540 women and 540 men.
  • Named after field hockey legend Major Dhyan Chand, the sports university has been planned with all the modern, state-of-the-art sports infrastructure – including a synthetic hockey ground, football ground, separate grounds for basketball, volleyball, handball, and kabaddi.
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BOOKS AND AUTHORS

Book 'Dr. V. L. Dutt: Glimpses of a Pioneer's Life Journey' by V. L. Indira Dutt

  • Vice President of India M. Venkaiah Naidu launched the book titled 'Dr. V. L. Dutt: Glimpses of a Pioneer's Life Journey' authored by Dr. V. L. Indira Dutt, Chairperson and Managing Director of KCP Group, in Chennai, Tamil Nadu. The book is based on the life of Late Velagapudi Lakshmana Dutt (V.L. Dutt), the former Chairman of KCP Group.
  • Dutt was a well-known industrialist, philanthropist, and visionary who influenced a generation of young entrepreneurs. Dutt, as president of the Federation of Indian Chambers of Commerce and Industry (FICCI), was essential in bridging the gap between government and industry during the key years of 1991-92.
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