Sri Lanka seeks 500 million dollar as loan from India
The Government of Sri Lanka has sought a USD 500 million credit line from India to pay for its crude oil purchases, as the country is facing a severe foreign exchange crisis in the island nation after the pandemic hit the nation’s earnings from tourism and remittances. The USD 500 million credit line is part of the India-Sri Lanka economic partnership arrangement. The facility would be used for purchasing petrol and diesel requirements.
The country’s GDP contracted by a record 3.6 per cent in 2020 and its foreign exchange reserves plunged by over a half in one year through July to just USD 2.8 billion. This has led to a 9 per cent depreciation of the Sri Lankan rupee against the dollar over the past one year, making imports more expensive.
Important takeaways for all competitive exams:
- Sri Lanka Capitals: Sri Jayawardenepura Kotte; Currency: Sri Lankan rupee.
- Sri Lanka Prime Minister: Mahinda Rajapaksa; Sri Lanka President: Gotabaya Rajapaksa.
NASA launches Lucy Mission to study the Jupiter Trojan asteroids
The US space agency NASA has launched a first-of-its-kind mission called ‘Lucy Mission‘ to study Jupiter’s Trojan asteroids. The mission life of Lucy is 12-year, during which the spacecraft will fly by a total of eight ancient asteroids to study about solar system’s evolution. These will include one main-belt asteroid and seven Jupiter Trojan asteroids.
About the Lucy mission:
- The Lucy mission will mark NASA’s first single spacecraft mission in history to explore so many different asteroids.
- The Lucy probe was launched on a United Launch Alliance (ULA) Atlas V rocket from Space Launch Complex 41 at Cape Canaveral Space Force Station in Florida on October 16, 2021.
- Jupiter’s Trojan asteroids are two large clusters of space rocks that scientists believe are remnants of the primordial material that formed the solar system’s outer planets.
Important takeaways for all competitive exams:
- NASA administrator: Bill Nelson.
- Headquarters of NASA: Washington D.C., United States.
- NASA Founded: 1 October 1958.
India’s “Takachar” Wins Prince William’s inaugural ‘Eco-Oscar’ Award
New Delhi-based 17-year-old entrepreneur Vidyut Mohan is among the five global winners for the inaugural ‘Earthshot Prize’, also known as the ‘Eco-Oscars’, that honours people trying to save the planet. Vidyut has been awarded in the Clean our Air category, for his technology called ‘Takachar’, a small and portable device that uses crop residue to convert it into bio-products like fuel and fertilisers to reduce smoke emissions and combat air pollution. Each of the five winners will receive £1 million for their project.
About the award:
The ‘Eco-Oscars’ is an environmental award established by Prince William, Duke of Cambridge and renowned British historian David Attenborough in 2020, to be awarded annually from 2021 to 2030 to 5 winners. The awards were announced in five categories namely: Protect and Restore Nature, Clean our Air, Revive our Oceans, Build a Waste-Free World and Fix our Climate.
RBI imposes Rs 1 crore penalty on State Bank of India
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on India’s largest public lender State Bank of India (SBI). The penalty has been imposed for non-compliance with the directions contained in “RBI (Frauds classification and reporting by commercial banks and select FIs) directions 2016”.
The penalty has been imposed in the exercise of powers vested in RBI under the provisions of section 47A (1) (c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.
Important takeaways for all competitive exams:
- SBI Chairperson: Dinesh Kumar Khara.
- SBI Headquarters: Mumbai.
- SBI Founded: 1 July 1955.
NITI Aayog joins hand with ISRO to launch Geospatial Energy Map
NITI Aayog has launched the Geospatial Energy Map of India which will provide a holistic picture of all energy resources of the country. The map has been developed by NITI Aayog in collaboration with the Indian Space Research Organisation (ISRO) and the Energy Ministries of the Government of India.
About the Map:
The comprehensive Geographic Information System (GIS) Energy Map of India was jointly launched by Dr Rajiv Kumar (Vice Chairman, NITI Aayog), Dr V K Saraswat (Member, NITI Aayog), and Shri Amitabh Kant (CEO, NITI Aayog) on 18 October 2021. The map will help to identify and locate all primary and secondary sources of energy and their transportation/transmission networks to provide a comprehensive view of energy production and distribution in a country, which would further help in planning and making investment decisions.
Important takeaways for all competitive exams:
- NITI Aayog Formed: 1 January 2015;
- NITI Aayog Headquarters: New Delhi;
- NITI Aayog Chairperson: Narendra Modi;
- NITI Aayog CEO: Amitabh Kant.
WHO Global TB report for 2021: India worst-hit country in TB elimination
The World Health Organisation (WHO) has released the ‘Global TB report for 2021, where it highlighted the effects of COVID-19 which led to a huge reversal in the progress of Tuberculosis (TB) elimination. The report also mentioned India as the worst-hit country in TB elimination, where the detection of new TB cases saw a huge impact in 2020.
A dramatic reduction of 20% TB cases were witnessed in 2020 as compared to 2019, ie; a gap of 4.1 million cases. The progress in TB detection has gone back to the levels of 2012, with India accounting for 41% of the total case drops in 2020.
Important takeaways for all competitive exams:
- WHO Established: 7 April 1948;
- WHO Director General: Dr Tedros Adhanom Ghebreyesus;
- WHO Headquarters: Geneva, Switzerland.
China launched 1st Solar Exploration Satellite
China has successfully launched its 1st solar exploration satellite into space from the Taiyuan Satellite Launch Center in northern Shanxi Province aboard a Long March-2D rocket. The satellite was named as ‘Xihe’ (Xihe is the goddess of the sun who created the calendar in ancient Chinese mythology), also known as the Chinese Hα Solar Explorer (CHASE). The satellite has been developed by the China Aerospace Science and Technology Corporation (CASC).
Important takeaways for all competitive exams:
- China Capital: Beijing;
- China Currency: Renminbi;
- China President: Xi Jinping.
Amitabh Chaudhry reappointed Axis Bank CEO
The Reserve Bank of India (RBI) approved the re-appointment of Amitabh Chaudhry as Managing Director and Chief Executive Officer of private lender Axis Bank for a period of three years. Amitabh had taken charge as Axis Bank’s new MD and CEO in January 2019 after as outgoing MD and CEO Shikha Sharma retired, effective December 31, 2018. The extended three-year term will be effective from January 1, 2022.
Important takeaways for all competitive exams:
- Axis Bank Headquarters: Mumbai;
- Axis Bank Founded: 3 December 1993, Ahmedabad.
RBI authorised Karur Vysya Bank (KVB) to collect Direct taxes
The Reserve Bank of India has authorised Karur Vysya Bank (KVB) to collect direct taxes on behalf of the Central Board of Direct Taxes (CBDT). After obtaining the approval, KVB has started the integration process with the CBDT to collect direct taxes. The integration would enable the bank to allow its customers to remit the direct taxes through any branch/net banking/ mobile banking services (DLite Mobile application).
Important takeaways for all competitive exams:
- Karur Vysya Bank Establishment: 1916;
- Karur Vysya Bank Headquarters: Karur, Tamil Nadu;
- Karur Vysya Bank MD & CEO: B. Ramesh Babu;
- Karur Vysya Bank Tagline: Smart Way to Bank.
