CCI approves acquisition of 4.99% stake in HDFC ERGO by HDFC Bank
The Competition Commission of India (CCI) has approved the acquisition of 4.99 percent of the outstanding equity share capital in HDFC ERGO General Insurance Company by private sector lender HDFC Bank. HDFC Bank will acquire 3.56 crore shares or 4.99% stake for Rs 1,906 crore from the parent company Housing Development Finance Corporation (HDFC). HDFC ERGO General Insurance Company is a joint venture between HDFC and European insurer ERGO International AG.
The proposed combination will enable the lender to participate in the growth opportunity of HDFC ERGO General Insurance and create long-term value for its shareholders, as per a combination notice filed with the regulator.
Important takeaways for all competitive exams:
- HDFC Bank Headquarters: Mumbai;
- HDFC Bank Founded: August 1994;
- HDFC Bank CEO: Sashidhar Jagdishan;
- HDFC Bank Tagline: We understand your world.
India successfully test-fires “Agni-5” ballistic missile
The Defence Research and Development Organisation (DRDO) carried successful test-firing of surface-to-surface ballistic missile Agni-5 on October 27, 2021, from APJ Abdul Kalam Island in Odisha. Agni-5 is a nuclear-capable intercontinental ballistic missile (ICBM), which uses a three-stage solid-fuelled engine. The missile can strike targets at ranges up to 5,000 km with a very high degree of accuracy.
The indigenously-developed surface-to-surface missile, Agni-5, is capable of striking a target more than 5,000 km. It is about 17-metre long, 2-metre wide and has a launch weight of around 50 tonnes. The missile can carry a nuclear warhead of more than one tonne. The successful test of Agni-5 is in line with India’s stated policy to have ‘credible minimum deterrence’ that underpins the commitment to ‘No First Use’.
MSME Ministry launches “SAMBHAV” National Level Awareness Programme
The Ministry of Micro, Small & Medium Enterprises (MSME) has launched an e-National Level Awareness Programme ‘SAMBHAV”, to promote engagement of the youth in promoting entrepreneurship. The e-National Level Awareness Programme 2021 ‘SAMBHAV” was launched by Union Minister of MSME Narayan Rane in New Delhi.
About the campaign:
- The mass outreach program will be a one-month long initiative under the Ministry of MSME in which students from different colleges/ITIs from all parts of the country will be encouraged by 130 field offices of the Ministry to take up entrepreneurship.
- During the campaign, the college students will be made aware of the various schemes being implemented by the Ministry of MSME through Audio/Video film presentations.
- Awareness programs will be conducted in more than 1,300 colleges across the country in which 1,50,000 students are expected to participate.
R K Singh launches the Green Day Ahead Market (GDAM)
The Union Minister of Power & New and Renewable Energy, R K Singh has launched a new market segment, “Green Day Ahead Market (GDAM)”. This makes India as the only large electricity market in the world to implement a GDAM exclusively for renewable energy. The launch of the green day-ahead market will deepen the green market and will provide competitive price signals, besides offering an opportunity to market participants to trade in green energy, in the most transparent, flexible, competitive, and efficient manner.
About the initiative:
- The new initiative will open the renewable energy sector to enable anyone to set up the capacity and sell it to distribution companies and industries.
- Meanwhile, the electricity generation and distribution companies will be able to buy or sell renewable energy through open access.
- The market-based competitive prices will provide another option to renewable generators to sell power as well as accelerate the renewable capacity addition towards the government’s vision of building India as a sustainable and efficient energy economy.
PM Modi attend 16th East Asia Summit virtually
Prime Minister Narendra Modi has participated in the 16th East Asia Summit (EAS) through a video conference on October 27, 2021, during which he re-affirmed India’s focus on a free, open and inclusive Indo-Pacific and the principle of ASEAN Centrality in the region. The 16th EAS was hosted under the Chairmanship of Brunei. This was the 7th East Asia Summit for Prime Minister Modi.
About the Summit:
- The Summit ended with the adoption of three Statements by EAS leaders, which includes, Mental Health, Economic recovery through Tourism and Sustainable Recovery.
- Established in 2005, the East Asia Summit is the premier leader-led forum in the Asia-Pacific region to deal with issues relating to security and defence for the strategic, geopolitical and economic evolution of East Asia.
- The members of EAS includes 10 ASEAN member states, and India, China, Japan, the Republic of Korea, Australia, New Zealand, the United States and Russia.
Gujarat CM Bhupendra Patel launched ‘Go Green’ Scheme
Gujarat Chief Minister Bhupendra Patel has launched the ‘Go-Green’ scheme & its Portal to provide electric two-wheelers at subsidised rates to construction and industrial workers of the state. The scheme is aimed at reducing fuel bills and also curbing vehicular pollution.
The organised sector workers, such as an industrial labourer, would get a subsidy of 30 per cent on the vehicle’s price or Rs. 30,000, whichever is less, on the purchase of battery-powered two-wheelers. For construction sector workers, 50 per cent subsidy or Rs. 30,000, whichever is less on the purchase of battery-powered two-wheelers.
Important takeaways for all competitive exams:
- Gujarat Capital: Gandhinagar;
- Gujarat Governor: Acharya Devvrat;
- Gujarat Chief minister: Bhupendrabhai Patel.
Shavkat Mirziyoyev re-elected as President of Uzbekistan
Shavkat Mirziyoyev, the incumbent President of Uzbekistan has won a 2nd five-year term as the President of Uzbekistan. He is a member of the UzLiDeP (Uzbekistan Liberal Democratic Party). Shavkat Mirziyoyev took office in 2016 following the death of Islam Karimov, the first post-independence president of Uzbekistan.
Important takeaways for all competitive exams:
- Uzbekistan Capital: Tashkent;
- Uzbekistan Currency: Uzbekistani som;
- Uzbekistan Prime Minister: Abdulla Aripov.
Kotak Mahindra Bank tied up with IndiGo to launch ‘Ka-ching’ Credit Card
IndiGo and Kotak Mahindra Bank (KMB) entered into a strategic partnership for the launch of a co-branded credit card named ‘Ka-ching’. The credit card was launched under IndiGo’s 6E Rewards programme and linked with it to enable the members to earn rewards by using the card on IndiGo and other merchants. The co-branded card will be available in 2 variants such as 6E Rewards and 6E Rewards XL by offering exclusive travel benefits for domestic and international travel.
Important takeaways for all competitive exams:
- Kotak Mahindra Bank Founded: 2003;
- Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
- Kotak Mahindra Bank MD & CEO: Uday Kotak;
- Kotak Mahindra Bank Tagline: Let’s make money simple.
ICC Mens T20 World Cup 2021 Points Table
ICC T20 World Cup 2021
ICC Men’s T20 World Cup 2021 has begun on 17 October 2021. This event will be commencing with the decider match of the two best teams on 14 November 2021 in Dubai. Earlier this event was supposed to be held in Australia from 18th October to 15 November 2021 but due to the COVID-19 pandemic ICC T20, World Cup was postponed. Now, this event is being conducted by keeping all the players safe in the bio bubble in UAE and Oman. All the cricket enthusiasts before looking at the winner’s list must check all the important details of this tournament from the table mentioned below.
ICC Men’s T20 World Cup 2021 Points Table: Group 1
| Group 1 | Match | Won | Lost | Points | Net Run Rate |
|---|---|---|---|---|---|
| England | 5 | 4 | 1 | 8 | +2.464 |
| Australia | 5 | 4 | 1 | 8 | +1.216 |
| S. Africa | 5 | 4 | 1 | 8 | +0.739 |
| Sri Lanka | 5 | 2 | 3 | 4 | -0.269 |
| West Indies | 5 | 1 | 4 | 2 | -1.641 |
| Bangladesh | 5 | 0 | 5 | 0 | -2.383 |
ICC Men’s T20 World Cup 2021 Points Table: Group 2
| Group 1 | Match | Won | Lost | Points | Net Run Rate |
|---|---|---|---|---|---|
| Pakistan | 5 | 5 | 0 | 10 | +1.583 |
| NewZealand | 5 | 4 | 1 | 8 | +1.162 |
| India | 5 | 3 | 2 | 6 | +1.747 |
| Afghanistan | 5 | 2 | 3 | 4 | +1.053 |
| Namibia | 5 | 1 | 4 | 2 | -1.890 |
| Scotland | 5 | 0 | 5 | 0 | -3.543 |
Winner List of ICC T20 World Cup
| Winner List of ICC T20 World Cup | ||
| Year | ICC World Cup | Winning Team |
| 2007 | T20 | India |
| 2009 | T20 | Pakistan |
| 2010 | T20 | England |
| 2012 | T20 | West Indies |
| 2014 | T20 | Sri Lanka |
| 2016 | T20 | West Indies |
| 2021 | T20 | Australia |
ICC T20 World Cup 2021: FAQs
Q. When did India win the ICC T20 World Cup?
Ans: India won the 2007 ICC Men’s T20 World Cup.
Q. When will ICC conduct the 2021 ICC Men’s T20 World Cup?
Ans: The 2021 ICC Men’s T20 World Cup has begun on 17th October 2021.
Q. What is the venue of the 2021 ICC Men’s T20 World Cup?
Ans: The 2021 ICC Men’s T20 World Cup is being held in UAE and Oman.
HDFC Ltd and India Post Payments Bank partnered to Offer Home Loans
HDFC Ltd and India Post Payments Bank (IPPB) made a strategic partnership to offer HDFC Ltd’s home loans to 4.7 crore customers of IPPB through its wide network of 650 branches and over 1.36 lakh banking access points. The partnership helps to promote affordable housing in the remotest locations of India.
Under the partnership, IPPB will offer home loans for customers in unbanked and underserved areas through nearly 1,90,000 banking service providers including postmen and Gramin Dak Sevaks.
Important takeaways for all competitive exams:
- MD and CEO of India Post Payments Bank (IPPB): J Venkatramu;
- India Post Payments Bank (IPPB) was incorporated as Payments Banking Company under Section 22 (1) of the Banking Regulation Act, 1949;
- India Post Payments Bank (IPPB) Headquarters: New Delhi.
FloBiz Neobank signed Manoj Bajpayee as Brand Ambassador
FloBiz, a neobank for Indian Small to Medium-sized Businesses (SMBs), announced Padma Shri Awardee actor Manoj Bajpayee as the brand ambassador for its flagship product. He will promote the ‘’Business Ko Le Seriously’’ campaign to mark the importance of digital solutions. He has signed to accelerate myBillBook’s outreach to the SMB sector and promote the adoption of myBillBook– a simple to use GST (Good & Services Tax) billing and accounting software.
List of brand ambassadors recently appointed:
- Mastercard global brand ambassador: Magnus Carlsen
- TAGG, a tech-driven lifestyle electronics brand: Rohit Sharma
- CoinDCX: Amitabh Bachchan
- Fire-Boltt: Virat Kohli
- CoinDCX ‘Future Yahi Hai’ campaign: Ayushmann Khurrana
- Russian Film Festival in India: Imtiaz Ali
- Realme: KL Rahul
- Adidas’ Global Brand Ambassador: Deepika Padukone
France launched Military Communications Satellite “Syracuse 4A”
France has successfully launched a state-of-the-art satellite namely ‘Syracuse 4A’ into orbit which was carried off by Ariane 5 rocket from Kourou, in French Guiana. It is designed to allow France’s armed forces across the globe to communicate swiftly and securely. The satellite can survey its close surroundings and move itself to escape an attack.
Syracuse IV produces a throughput three times higher (1.5 Gbit/sec) than Syracuse III by operating in two bands: X and Ka. Three satellites are to be placed in orbit: the second in 2022 and the third on an unknown date. The total cost of the Syracuse IV programme is EUR3.6 billion (nearly USD4.2 billion). Syracuse IV is the first French military satellite with the ability to detect other satellites that are trying to gather information from it or to destroy it.
Important takeaways for all competitive exams:
- France Capital: Paris;
- France Currency: Euro;
- France Prime Minister: Jean Castex.
Indo-Canadian Anita Anand appointed Canada’s defence minister
Indo-Canadian Anita Anand became just the second woman to be appointed Canada’s minister of national defence as Prime Minister Justin Trudeau announced his new cabinet. The ministers were sworn in by governor-general Mary May Simon in a ceremony at Rideau Hall in Ottawa. She is the first woman to serve as defence minister since Kim Campbell in the 1990s.
Important takeaways for all competitive exams:
- Canada Capital: Ottawa; Currency: Canadian dollar.
Rajnath Singh chairs Ambassadors’ Round Table for DefExpo 2022
In a major outreach to the friendly foreign countries as also to the defence manufacturing industries of the world, Raksha Mantri, Rajnath Singh has chaired the Ambassadors’ Round Table for Def Expo 2022, in New Delhi. DefExpo 2022 will be Asia’s largest defence exhibition. The Round Table was aimed to brief the Ambassadors of foreign missions about the planning, arrangements and other details of DefExpo 2022, which will be held in Gandhinagar, Gujarat between March 10-13, 2022.
More than 200 delegates, including Ambassadors, Heads of Missions and Defence Attaches attended the Round Table, reflecting the growing global interest in the Indian Defence space. Chief of Defence Staff General Bipin Rawat, Chief of Air Staff Air Chief Marshal VR Chaudhari, Secretary (Defence Production) Shri Raj Kumar and other senior officials of the Ministry of Defence & Government of Gujarat were also present.
Indo-Pacific Regional Dialogue commences
Indo-Pacific Regional Dialogue (IPRD) 2021 is being organized as a three-day online event on 27, 28 and 29 October 2021. IPRD 2021 will focus on the theme ‘Evolution in Maritime Strategy during the 21st Century: Imperatives, Challenges and Way Ahead’. It will focus on eight specific sub-themes.
About the Indo-Pacific Regional Dialogue:
- The National Maritime Foundation is the Indian Navy’s knowledge partner for IPRD 2021. It is also the Indian Navy’s chief organiser for IPRD 2021.
- Indo-Pacific Regional Dialogue (IPRD) is the apex international annual conference of the Indian Navy. It was first conducted in 2018.
- IPRD aims to review both opportunities and challenges that arise within the Indo-Pacific.
Everything about Agni 5 Ballistic Missile Tested by India
Why Agni 5 in News?
Recently, Defence Research and Development Organisation (DRDO) has carried successful test-firing of surface-to-surface ballistic missile Agni-5. The test-firing was carried around 7:50 PM from APJ Abdul Kalam Island in Odisha on October 27, 2021. Agni-5 is a nuclear-capable intercontinental ballistic missile (ICBM), which uses a three-stage solid-fuelled engine.
The defence ministry of India said the successful test of Agni-5 is in line with India’s stated policy to have credible minimum deterrence that underpins the commitment to ‘No First Use’. The missile has been successfully tested five times and is in the process of induction into the Army. The successful test-firing of surface to surface ballistic missile Agni-5 has also come in the midst of a lingering border stand-off with China in Eastern Ladakh.
About Agni V Missiles:
- Agni-V is the most advanced surface-to-surface indigenously built ballistic missile. It is a three-stage, solid-fuelled, 17-metre tall missile, and is capable of carrying a nuclear warhead of about 1.5 tonnes.
- Agni-V is a fire and forget missile, which once fired cannot be stopped, except by an interceptor missile. It has been developed under the Integrated Guided Missile Development Programme (IGMDP).
What is IGMDP?
IGMDP was conceived by Dr A.P.J. Abdul Kalam to enable India to attain self-sufficiency in the field of missile technology. It was approved by the Government of India in 1983 and completed in March 2012. The 5 missiles (P-A-T-N-A) developed under this program: Prithvi, Agni, Trishul, Nag, Akash.
Range of all Agni Missiles:
- Agni I: Range of 700-800 km.
- Agni II: Range more than 2000 km.
- Agni III: Range of more than 2,500 Km
- Agni IV: The range is more than 3,500 km and can fire from a road-mobile launcher.
- Agni-V: The longest of the Agni series, an Inter-Continental Ballistic Missile (ICBM) with a range of over 5,000 km.
- Agni-P (Prime): It is a canisters missile with a range capability between 1,000 and 2,000 km. It will replace the Agni I missile.
