15 Setember 2021 GK Final - zenithacademy.com

Zenith Academy (For CAT CLAT IPM)

Current GK on 15 September 2021

IMPORTANT DAYS

National Hindi Diwas 2021 – September 14

National Hindi Diwas is annually observed across India on September

14th to commemorate the adoption of Hindi in the Devanagari Script

as one of the official languages of India.

The day aims to promote the progressive use of Hindi and for the

enrichment and promotion of the Hindi Language.

Background:

i.The government of India led by Prime Minister Jawaharlal Nehru

declared the 14th September of every year as the Hindi Diwas to

highlight the significance of the day on which Hindi became one of the

official languages of India along with English.

ii.The day also marks the birth anniversary of the acclaimed Hindi

Stalwart, Beohar Rajendra Simha, the illustrator of the original final

manuscript of the Constitution of India

Hindi – Official Language of India:

i.On 14th September 1949, Hindi was adopted as the Official Language

of the Union of India.

ii.In 1950, Under Article 343, The Constitution of India declared Hindi

in the Devanagari script as the official language of India.

Hindi Pakhwada 2021 – 1st to 15th September:

The Films Division, under the Ministry of Information &

Broadcasting(MIB), has been observing Hindi Pakhwada from 1st

September 2021 to 15th September 2021 to encourage the use of

practical Hindi among the officers and officials.


Events 2021:

i.As a part of the celebration of Hindi Diwas 2021, the Film Division

has organised an Online Film Festival – “Hindi: Bharat Ki Vani” which

will be screened on the official website and youtube channel of the film

division on 14th and 15th September 2021.

ii.The documentaries on great personalities from Hindi Literature like

Premchand(novelist), Bharatendu Harishchandra(Father of Modern

Hindi literature), Maithili Sharan Gupta, Jai Shankar Prasad(writer and

poet), and others will also be screened during the online film festival.

IIT Bombay Launched ‘Project Udaan’, an AI-based Translation

app:

i.Indian Institute of Technology(IIT)-Bombay virtually launched

‘Project Udaan’, an artificial intelligence (AI)-based translation app to

assist the students from linguistic minorities, on the occasion of Hindi

Diwas 2021.

ii.The Project Udaan is an AI-based software ecosystem that

translates scientific and technical content from English to Hindi and

other Indian languages.

iii.The app can translate engineering textbooks and other technical

learning materials.

iv.Through this donation-based project, the IIT-Bombay team aims to

translate more than 500 engineering texts in Hindi in 1 year and other

15 Indian languages in 3 years.

About Ministry of Information & Broadcasting(MIB):

Union Minister– Anurag Singh Thakur(Constituency- Hamirpur,

Himachal Pradesh) Minister of State– Dr. L. Murugan


Telangana Language Day 2021 – September 9

The Telangana Language Day is annually celebrated across the state

of Telangana on September 9th to mark the birth anniversary of

eminent Telangana poet, Padma Awardee Kaloji Narayana Rao. The

state of Telangana celebrates the Telangana language day as

“Telangana Bhasha Dinosthavam”. 9th September 2021 marks the

107th birth anniversary of Kaloji Narayana Rao. Background: In 2014,

K Chandrasekhar Rao, Chief Minister(CM) of Telangana declared the

9th September of every year as the Telangana Language Day or

Telangana Bhasha Dinosthavam to honour the Telangana poet Kaloji

Narayana Rao. The First Telangana Language Day was observed on 9th

September 2015.

About Kaloji Narayana Rao:

i.Kaloji Narayana Rao is a poet and freedom fighter who has

contributed to the promotion of the culture of Telangana.

ii.He was born on 9th September 1914 in the village of Rattihalli,

Karnataka.

iii.He has served as a member of the Legislative Council of Andhra

Pradesh and as a member of the member of Andhra Saraswati

Parishad, Andhra Pradesh Literacy Academies and the President of

Telangana Writers Association.

iv.The government of India honoured him with the Padma Vibhushan in

1992 for Arts.

Kaloji Smaraka Puraskaram award 2021:

i.The government of Telangana has honoured Poet Penna

Sivaramakrishna with the Kaloji Smaraka Puraskaram award 2021

for his contribution to the various genres of modern Telugu literature.


ii.The award consists of a cash prize of Rs 1,01,116, a memento and a

shawl.

About Kaloji Smaraka Puraskaram award:

i.The Kaloji Smaraka Puraskaram award, named after poet and freedom

fighter Kaloji Narayana Rao was instituted by the government of

Telangana in 2015. ii.The inaugural award was presented to Vengalpopal

Ammangi in 2015.

NATIONAL AFFAIRS

Union minister Nitin Gadkari launched ‘iRASTE’ Road Safety Project

to Reduce Road Accidents

The Union Minister for Road Transport, Nitin Gadkari launched ‘

iRaste- a two year pilot project in Nagpur, Maharashtra. It is a

collaborative project, developed by Intel India, International Institute

of Information Technology, Hyderabad (IIIT-H), Council of Scientific

& Industrial Research (CSIR) – Central Road Research Institute

(CRRI), Mahindra and Mahindra and Nagpur Municipal Corporation

(NMC).It stands for Intelligent Solutions for Road Safety through

Technology and Engineering.

Objective– To enhance road safety and reduce road accidents in

Nagpur.

iRASTE It utilizes Artificial Intelligence (AI) technology to provide

better results. The initiative will bring down 50 percent of road

accidents. Later it will be extended to other cities as well.

Key focus It focuses on three important areas- vehicle safety,

mobility analysis and road safety Infrastructure.


Mechanism

i.The NMC vehicles would be equipped with Advanced Driving

Assistance Systems (ADAS). The system will give alerts to drivers and

help in improving performance. It also consists of a Collision Avoidance

System (CAS) .

ii.A mobility analysis will be derived that will monitor the road

networks and predict risk assessments. By defining Grey and Black

spot areas that are high risk or accident prone.

iii.Technical guidance is provided by CSIR- CRRI. It has completed a

road safety audit of around 9000 km. iv.While Intel India will provide

ADAS technology, IIIT Hyderabad will address population scale road

safety through INAI (Intel AI) Center for Advanced AI research.

Mahindra & Mahindra will conduct road safety, public awareness

programmes and driver training.

Additional information– Satish Paresh is appointed as the President of

International Road Federation (IRF). Previously, he was working as

the Managing Director of Ashoka Buildcon. He succeeded Subhmay

Gangopadhyay, the former Director of CRRI.

About International Road Federation (IRF) Headquarters- Geneva,

Switzerland

Highlights of US climate envoy John Kerry’s visit to India from Sep

12-14

The United States (US) Special Presidential Envoy for Climate John

Kerry was on a two day visit to India on September 12-14, 2021. The

focus of the visit was to meet with Government of India counterparts

and private sector leaders to discuss efforts to raise global climate

ambition and speed India’s clean energy transition.


• In this regard, bilateral meet was held where both sides discussed a

wide range of climate issues relating to Conference of the Parties

(COP26), Climate Ambition, Climate Finance, Global Climate Initiatives

including International Solar Alliance (ISA), Agriculture Innovation

Mission for Climate (AIM4C).

This visit was also as a part of the US initiative to bolster climate

efforts ahead of the 26th COP26 to the United Nations Framework

Convention on Climate Change (UNFCCC) which will be held from

October 31 to November 12, 2021 in Glasgow, the United Kingdom (UK).

India-US launched Climate Action and Finance Mobilization Dialogue

(CAFMD):

During his visit, India-US the Climate Action and Finance Mobilization

Dialogue (CAFMD) was launched which is one of the two main tracks of

the US-India Agenda 2030 Partnership that US President Joe Biden

and Indian Prime Minister Narendra Modi announced at the Leaders

Summit on Climate in April, 2020.

• CAFMD was officially launched by the Union Minister Bhupender

Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC)

and John Kerry at an event held in New Delhi.

• Its aim is to expand cooperation in clean energy projects and resilient

economic development.

Union Power Minister RK Singh met John Kerry

Union Minister Raj Kumar Singh, Ministry of New and Renewable

Energy (MNRE) met with John Kerry to discuss various issues related

to climate change and energy transition.


• The Minister announced that India will invite bids for green hydrogen

in the next three to four months to encourage viable usage of

hydrogen as a fuel.

Points to be noted:

i.Under the 2015 Paris Agreement, India has pledged to reduce

emissions intensity of GDP (Gross Domestic Product) by 33%-35%

below the 2005 level by 2030 and raise the non-fossil share of power

generation capacity to 40% by 2030, among other pledges.

ii.India has an ambitious plan of having 450 GW of renewable energy

by 2030.

Recent Related News:

European Commission (EC), the executive branch of European Union

(EU) proposed plans to impose World’s 1st ‘Carbon Border Tax’ from

2026 on imports of carbon-intensive goods, including steel, cement,

fertilisers and aluminium as part of a programme to meet its new

climate target (Reducing emissions by 55% from 1990 levels by 2030).

About United States (US):

Capital– Washington, D.C. Currency– US Dollar

India leases Dornier aircraft to Mauritius to enhance maritime

security

India handed over Indian Navy’s Dornier aircraft to Mauritius on

lease as part of Vision SAGAR (Security and Growth for All in the

Region) for enhanced maritime security of the Indian Ocean region

(IOR), on September 13.

• India and Mauritius exchanged the contract for the purchase of a

new Dornier aircraft under Line of Credit (LOC).


Through Vision SAGAR India unveiled Vision SAGAR in 2015.

1. India seeks to increase its relation. with maritime neighbours to

deepen economic, security cooperation and build their maritime

security capabilities.

2. India promises to cooperate on information exchange, coastal

surveillance and building infrastructure.

Note – Another `Mission Sagar’ Launched on 10 May, was India’s

initiative to deliver Covid-19 related assistance to the countries in the

Indian Ocean Littoral states. About Mauritius Mauritius is an island

nation located in Indian Ocean Capital: Port Louis Currency: Mauritian

rupee Prime Minister: Pravind Jugnauth

INTERNATIONAL AFFAIRS

India–Africa Defence Dialogue (IADD) to be held alongside every

DefExpo; 2nd IADD to be held in 2022

On September 13, 2021, the Central Government of India proposed to

institutionalize the India Africa Defence Dialogue (IADD) during

successive DefExpos to be held biennially.

• In this regard, Manohar Parrikar Institute for Defence Studies

and Analyses (MP-IDSA), New Delhi will act as the knowledge partner

of IADD and will provide necessary support for enhanced defence

cooperation between the both nations.

Key Points:

i.As a follow-up with the above proposal, the 2nd IADD will be held in

2022 on the sidelines of the DefExpo that is scheduled to be held at

Gandhinagar, Gujarat in March 2022. It will be hosted by Union


Minister Rajnath Singh, Ministry of Defence (MoD) on the theme

‘India – Africa: Adopting Strategy for Synergizing and

Strengthening Defence and Security Cooperation’.

ii.Indo-Africa defence relations are based on the two guiding

principles viz. ‘SAGAR-Security and Growth for All in the Region’ and

‘Vasudhaiva Kutumbakam-The World is One Family’.

How will this dialogue be helpful?

It will boost the existing partnerships between African countries &

India and will explore new areas of convergence for mutual

engagements which include capacity building, training, cyber security,

maritime security and counter terrorism.

Background: The above decision has been taken on the sidelines of

‘Lucknow Declaration’ that was adopted during the 1st India Africa

Defence Ministers Conclave (IADMC) or IADD in Lucknow, Uttar

Pradesh in conjunction with DefExpo on February 6, 2020. It was co-

organised by MoD and Ministry of External Affairs (MEA).

About Ministry of Defence:

Rajnath Singh Constituency– Lucknow, Uttar Pradesh

Minister of State (MoS)– Ajay Bhatt (Constituency – Nainital–

Udhamsingh Nagar, Uttarakhand)

Climate Change to Force 216 Million People to Migrate from their

Countries by 2050: World Bank report

The World Bank released the updated Groundswell report

“Groundswell Part 2: Acting on Internal Climate Migration” on 13th

September 2021. According to the report, Climate Change could force

more than 216 million people from across 6 regions(South Asia; Latin


America; Sub-Saharan Africa; East Asia and the Pacific; North Africa;

and Eastern Europe and Central Asia) to migrate from their own

countries by 2050.

• The report acts as a reminder of the effects of human activity on

climate change, especially on the world’s poorest.

• It also states the various paths for the nations to address the major

factors that cause climate-driven migration.

• The updated report has included 3 new regions(Eastern Europe and

Central Asia, North Africa and East Asia and the Pacific) to provide a

“global estimate” of the potential migration.

Gist of the report:

i.The report states that the hotspots of internal climate in and out-

migration can emerge as early as 2030 and grow and intensify by 2050.

ii.The report also finds that immediate actions to reduce the global

greenhouse gas emissions and to ensure inclusive and resilient

development is essential can reduce the effects of internal climate

migration by around 60-80 %.

About World Bank:

The World Bank was created at the 1944 Bretton Woods Conference,

along with the International Monetary Fund

(IMF).

President– David R. Malpass (13th President)

Headquarters– Washington DC, United States of America

IIM Ahmedabad Adjudged as Best B-School in India: QS Global

MBA Rankings: Global 2022

The QS Global MBA Rankings: Global 2022, released by Quacquarelli

Symonds(QS), has adjudged the Indian Institute of Management (IIM)


Ahmedabad, Gujarat as the best business school(B-school) in India.

The IIM Ahmedabad has achieved the 46th rank on the list which

features around 280 business schools from across the globe. The list is

topped by Stanford Graduate School of Business, Stanford, California,

United States of America(USA).

• IIM Bangalore (ranked 50) and IIM Ahmedabad are the only Indian

Institutes among the top 50.

• The list features a total of 7 institutions from India which includes

IIM Calcutta (76), Indian School of Business(92), Indian Institute of

Management Indore(151-200), SPJIMR(151-200) and Indian Institute

of Management Lucknow(201-250).

• The QS Global MBA Rankings: Global 2022, provides a comprehensive

list of the best places to study an MBA

Top 3 QS Global MBA Rankings:

Rank University Country

1 Stanford Graduate

School of Business

Stanford, USA

2 Harvard Business

School

Boston, USA

2 Penn (Wharton) Philadelphia, USA

QS Business Masters Rankings 2022:


QS World University Rankings: Business Masters Rankings 2022 ranks

the Masters in Business Analytics, Masters in Finance, Masters in

Management, Masters in Marketing and Masters in Supply Chain

Management.

QS Business Masters Rankings: Business Analytics 2022:

• MIT (Sloan), Cambridge, Massachusetts, USA topped the list.

• IIM Calcutta, Kolkata, West Bengal secured the rank (51-60) and

topped the Indian Institute in Business Analytics.

QS Business Masters Rankings: Finance 2022:

• Oxford (Said), Oxford, United Kingdom topped the list.

• Jagdish Sheth School of Management (Formerly IFIM Business

School), Bengaluru, Karnataka secured the rank 151+ and topped the

Indian Institutes in Finance.

QS Business Masters Rankings: Management 2022:

• HEC Paris, Jouy-en-Josas, France topped the list.

• IIM Ahmedabad secured the 29th rank and tops the Indian institute

followed by IIM Bangalore (33) and IIM Calcutta (53).

QS Business Masters Rankings: Marketing 2022:

• HEC Paris, Jouy-en-Josas, France topped the list.

• Jagdish Sheth School of Management (Formerly IFIM Business

School) secured the 101+ rank.

QS Business Masters Rankings: Supply Chain Management 2022:

• Center for Transportation and Logistics (MIT CTL), Cambridge, USA

topped the list.


Note:

The rankings featuring more than 1300 Universities across the globe

are assessed based on 5 parameters,

• Employability 40%

• Entrepreneurship and alumni outcomes 15%

• Return on investment 20%

• Thought leadership 15%

• Class and faculty diversity 10%

About Quacquarelli Symonds (QS):

QS is the world’s leading provider of services, analytics, and insight to

the global higher education sector.

CEO– Nunzio Quacquarelli Headquarters– London, England Founded in

1990

APPOINTMENTS & RESIGNATIONS

Justice M Venugopal Appointed as Acting Chairperson of NCLAT

Justice M Venugopal, Judicial Member of the NCLAT (Chennai bench

of NCLAT), has been appointed as the acting chairperson of the

National Company Law Appellate Tribunal (NCLAT), with effect from

11th September 2021.

• He is the 3rd Acting chairperson to head the NCLAT since the

retirement of Chairperson Justice S J Mukhopadhaya on 14th March

2020.

• Previously Justice Bansi Lal Bhat and Justice AIS Cheema served

as the acting chairpersons of NCLAT between March 2020 and

September 2021.

Note: The government of India has appointed 31 members to the

NCLT (National Company Law Tribunal) and the ITAT (Income Tax


Appellate Tribunal).

About Justice M Venugopal:

i.Justice M Venugopal is a former judge of the High court of Madras.

ii.He started as a Sub Judge in Tamil Nadu State Judicial served in

1997 and was later elevated to the High court of Madras in 2007.

iii.He has served as the Judicial Member of NCLAT, Principal Bench,

New Delhi from October 2019 and later moved to the Chennai Bench of

NCLAT in January 2021.

About National Company Law Appellate Tribunal (NCLAT): The

NCLAT was constituted under Section 410 of the Companies Act, 2013

for hearing appeals against the orders of the NCLT. Acting

Chairperson– Justice M Venugopal Headquarters– New Delhi

Established on 1st June 2016

SCIENCE & TECHNOLOGY

India launched its 1st Satellite & Nuclear Missile Tracking Ship

INS Dhruv

India has launched its first satellite and nuclear-missile tracking ship

INS (Indian Naval Ship) Dhruv. It is the first of its kind ocean

surveillance ship (OSS) that is capable of tracking ballistic missiles at

a long-range.

• It was launched by National Security Advisor Ajit Doval in the

presence of Chief of Naval Staff Admiral Karambir Singh from

Visakhapatnam (Andhra Pradesh), its commission site.

• It will be under the control of the Strategic Forces Command (SFC),

and will advance India’s presence in the Indo-Pacific region. Gulf of


Aden to the South China Sea via Malacca, Sunda, Lombok, Ombai, and

Wetar straits.

INS Dhruv Development:

i.It is built by the Hindustan Shipyard Limited (HSL) in collaboration

with the DRDO (Defence Research and Development Organisation) and

NTRO (National Technical Research Organisation).

ii.It has been designed in India by New Delhi-headquartered Vik

Sandvik Design India Pvt. Ltd. (VSDI).

iii.Its outlay is around Rs 750 crore.

iv.Its code designation is VC-11184.

Key features:

i.The ship was built inside the covered dry dock.

ii.It has the capacity to carry a 300-crew with hi-tech gadgets and

communication equipment, powered by two diesel engines, and a large

deck capable of helicopter landing.

iii.It is equipped with the DRDO developed state-of-the-art Active

Electronically Scanned Array (AESA) radar that can scan and monitor

spy satellites.

• It will provide early warning of attacks by ballistic missiles launched

from Pakistan and China.

iv.It will also be able to map ocean beds for research and detection of

enemy submarines.

v.It will also help in monitoring the flight trajectories and telemetry

data of the Agni land-based missiles and ‘K’ series of submarine-

launched ballistic missiles launched by India.

It should be noted that with the induction of INS Dhruv, India joins

France, the United States (US), the United Kingdom (UK), Russia, and

China, who possess and operate such ships.



Ordnance Factory, Tiruchirappalli (OFT) handed over the 1st Batch of

25 Indigenously produced 12.7 mm Stabilised Remote Control Gun

(SRCG) systems to the Indian Navy and Indian Coast Guard (ICG).

About Hindustan Shipyard Limited (HSL)

Establishment– 1952 Chairman & Managing Director (CMD)– Hemant

Khatri

Parent Ministry– Ministry of Defence Headquarter– Visakhapatnam,

Andhra Pradesh

Remotely Piloted Aircraft System (RPAS) Inaugurated at MCL of

1st of Its Kind in CIL

In a first, in Coal India Ltd. (CIL) under the Ministry of Coal, an

innovative Remotely Piloted Aircraft System (RPAS) was inaugurated

at Mahanadi Coalfields Ltd (MCL) to remotely monitor automated

systems.

• Designed by the MCL’s Innovation Cell and the Department of E&T,

the portal named “Vihangam’ was created by a Mumbai-based start-up

of drone manufacturing, robotics and automation.

• RPAS will enable real-time monitoring of coal mines with the use of

drones.

• Pramod Agrawal, Chairman of CIL also laid the foundation stone for

Rs 285.05 crore first mile connectivity (FMC) project — Lajkura SILO.

SPORTS

Eight esports included in medal events at 2022 Asian Games

For the first time in Asian games, eight electronic sports (esports)

are included in the medal events at the 19th Asian Games 2022 which


are going to be held in Hangzhou, China. The games will start from

September 10, 2022 and continue till September 25.

• The Olympic Council of Asia (OCA) announced the titles for the debut

of esports.

• It includes eight medal events and two demonstration games.

List of esports

• Arena of Valor Asian Games Version

• Dota 2

• Dream Three Kingdoms 2

• EA SPORTS FIFA branded soccer games

• HearthStone

• League of Legends

• PUBG Mobile Asian Games Version

• Street Fighter V

Demonstration events

1. AESF Robot Masters-Powered by Migu

2. AESF VR Sports-Powered by Migu

Additional information

1. Hong Kong based Asian Electronic Sports Federation (AESF) is

appointed as the technical delegate of the esports competition.

2. The AESF will manage and operate esports competition in Hangzhou.

3. Earlier, esports were introduced in South Asian Games 2019 which

took place in the Philippines.

India leads in Test Series against England

India lead in the 5-match Test Series against England by winning 2 of

the 4-matches played and drawing the 1st match, that was held


between 4th August and 6th September 2021, in England. The Fifth

match of the series was cancelled due to COVID-19 outbreak among 4

of the Indian crew members.

i.At the end of the 4th Test match, the Indian team moved up to the

1st position in the ICC World Test Championship 2021-2023, replacing

Pakistan from the top position.

ii.During the Test Series, India was aiming for an historic victory

against England. As India won a Test series against England in England

only on 3 occasions – 1971, 1986 and 2007.

Result of Test Series:

Both India & England were not in a position to find an outcome for the

result of the 5th match, which could lead to a loss of 40 million pounds

for England, if results favoured India.

i.The England and Wales Cricket Board (ECB) called for the

International Cricket Council (ICC) to resolve the dispute of the 5th

match.

Possible outcomes:

• Test match abandoned – India wins the Series

• Match Forfeiture as per DRC ruling – Series leveled with 2-2

ii.Previously, 4 Indian Crew members – Ravi Shastri (Head Coach),

Bharat Arun (Bowling Coach), Ramakrishnan Sridhar (Fielding Coach) &

Yogesh Parmar (Physiotherapist) were tested COVID-19 positive.

Virat Kohli – Fastest Cricketer to reach 23,000 International runs


During the Test series, Virat Kohli broke the long-standing record of

Sachin Tendulkar to become the fastest to score 23,000 international

runs in Cricket.

• Virat Kohli took an overall 490 innings to reach the milestone, while

Sachin reached the landmark in 522 innings.

• His 23,000 runs came from 13,646 runs in 96 Tests, 13,061 runs in

254 ODIs and 2272 runs from 89 T20 Internationals, with an average

of over 50 in all three formats.

Jasprit Bumrah becomes Fastest Indian to take 100 Test wickets

During the 4th Test, Indian fast bowler, Jasprit Bumrah became the

fastest Indian bowler to take 100 test wickets. He achieved this in

just 24 games, surpassing Kapil Dev, who reached the mark in 25 Test

matches.

• Other Indian bowlers to reach the fastest 100 Test wickets are

Irfan Pathan (28 Tests) & Mohammad Shami (29 Tests).

ICC Test Batsman Ranking – Rohit Sharma 5th Spot, Joe Root

move to Top spot

In the September 2021 ranking for Test Batsman, ICC has ranked

India’s Rohit Sharma in the 5th spot pushing Virat Kohli to the 6th

position. While the England captain Joe Root was placed at the Top

spot.

• Notably, Rohit Sharma has made his 1st Test Century outside India,

during the test series.

• While England’s Joe Root scored 564 runs at an average of 94,

including three hundred, in the Test Series.

Note – ICC has also named ‘Joe Root’ as the ‘Player of the Month for

August 2021’


KL Rahul – 1st Indian Opener to score Test Hundred in Lord’s in 31

years

During the Test Series, Indian opening batsman KL Rahul scored a Test

century during the Lord’s Test to become the 1st Indian Opener to

score a Test hundred in Lord’s in the last 31-years.

• The last Test hundred by an Indian opener at Lord’s was hit by Ravi

Shastri in 1990.

MS Dhoni to mentor India’s T20 World Cup Squad

Board of Control for Cricket in India (BCCI) has appointed former

Indian Captain Mahendra Singh Dhoni as the mentor of India’s 15-

member T20 World Cup squad, which is set to play in the ICC T20

World Cup that is set to start on October 17 at UAE and Oman.

• MS Dhoni captained the Indian team that won 2-world titles – 2007

T20 World Cup & 2011 ODI World Cup


i.In March 2021, Ravichandran Ashwin became the 1st Bowler in Test

Cricket to take 200 wickets against left-handed batsmen, he is also

the 2nd Fastest Bowler (only after Muttiah Muralitharan) to take 400

Test Wickets.

ii.New Zealand defeated India to win the inaugural ICC World Test

Championship 2021, the finals were held at Southampton, England.

About International Cricket Council (ICC):

Chairman – Greg Barclay (New Zealand) Headquarters – Dubai, UAE

About the Board of Control for Cricket in India (BCCI):


President – Sourav Ganguly Secretary – Jay Shah Headquarters –

Wankhede stadium, Mumbai, Maharashtra

BANKING & FINANCE

RBI announces opening of 3rd cohort under RS; 6 entities

completed test phase in 1st Cohort & 8 selected for 2nd

On September 13, 2021, the Reserve Bank of India (RBI) announced

the opening of the 3rd cohort under the Regulatory Sandbox (RS) on

the theme ‘MSME Lending‘. The eligible entities can submit their

application from October 01, 2021 to November 14, 2021.

• The theme for 1st cohort (November 2020) was ‘Retail Payments‘

while for 2nd cohort (December 2020) it was ‘Cross Border Payments‘.

What is a Regulatory sandbox?

Initiated in August 13, 2019, it refers to live testing of new products

or services in a controlled regulatory environment for which regulators

may (or may not) permit certain relaxations for the limited purpose of

the testing.

• The objective of the regulatory sandbox is to foster responsible

innovation in financial services, promote efficiency and bring benefit to

consumers.

• It also allows the regulator, innovators, financial service providers

and customers to conduct field tests regarding benefits and risks of

new financial innovations.

Also, in December 2020, RBI eased the eligibility norms for

applications under sandbox under which net worth requirement

decreased from the existing Rs 25 lakh to Rs 10 lakh, as also included


Partnership firms and Limited Liability Partnership (LLPs) to

participate in the RS.

6 entities completed test phase in 1st Cohort

The apex also announced that six entities have completed the test

phase of the 1st cohort on retail payments. These are as follows:

Sandbox Entity Product

Nucleus

Software

Exports

PaySe

Tap Smart Data

Information

Services

Citycash

Natural Support

Consultancy

Services

IND-e-Cash

Naffa

Innovations

ToneTag

Ubona

Technologies

BHIM Voice

Eroute

Technologies

UPI based offline payment

solution using SIM overlay

smartcard

The above mentioned entities now have exited the cohort. The

products found acceptable under this Cohort may be considered for

adoption by Regulated Entities.

8 entities selected for 2nd cohort:


The eight entities (out of 26) that have been selected for the test

phase under 2nd cohort are Book My Forex; Cashfree Payments; Fairex

Solutions; Flyremit; Nearby Technologies (Product-Paynearby) ; Open

Financial Technologies; SoCash India; and Wall Street Finance

(Product-WSFx SecuSmart REMIT).

• The entities will commence testing of their products from the third

week of September 2021.


On July 06, 2021, the Reserve Bank of India (RBI) launched the 54th

round of quarterly ‘Order Books, Inventories and Capacity Utilization

Survey’ (OBICUS) of the manufacturing sector. The reference period

for the survey is Q1 FY22 (April – June 2021).

About Reserve Bank of India (RBI):

Establishment– April 1, 1935

Headquarters– Mumbai, Maharashtra Governor– Shaktikanta Das

Deputy Governors– Mahesh Kumar Jain, Michael Debabrata Patra, M.

Rajeshwar Rao, T. Rabi Sankar

IRDAI Issues Composite Broking Licence to HIBIPL; Selling &

Renewal Of Short-term COVID-19 Insurance Policies Permitted Till

March 2022

A Composite Broking Licence from the Insurance Regulatory and

Development Authority of India (IRDAI) is being provided to Hero

Insurance Broking India Pvt. Ltd. (HIBIPL). It will allow the firm to

offer reinsurance broking and risk management consultancy services to

corporate clients.


Highlights

• This will increase the insurance penetration in the country.

• With this new composite license, the firm will provide major benefits

in manufacturing insurance and other employee insurance.

• The firm serves in around 2,700 locations across the country through

field agents selling policies through a point of salesperson (POSP)

model.

About Reinsurance broking

A reinsurance broker is an intermediary individual or firm who is paid a

fee or commission to find and place new business on behalf of both the

insured client and insurer. This can involve negotiating rates or

contracts while sourcing the best-suited policies on the market.

About Composite Broking:

Composite brokers are a combination of direct brokers and reinsurance

brokers and therefore have a double role. The minimum capital

requirement for composite brokers is at least Rs. 5 crore, along with

maintenance of a net worth of 50 percent of the minimum capital

requirement.

IRDAI Permits Insurers To Sell & Renew short term COVID-19

policies:

Insurance Regulatory and Development Authority of India (IRDAI)

allowed insurers to continue selling and renewing short-term Covid-19

specific health insurance policies till March 2022.

The exemptions granted general insurers for issuance of electronic

policies as well as dispensing with physical documents and wet

signatures have been extended up to end-March 2022.


Background

• In 2020, IRDAI has allowed the companies to sell Corona Kavach

Policies (Standard Indemnity based Health Policy) and Corona Rakshak

Policies (Standard Benefit based Health Policy).

• These policies are short term in nature, which has attracted a huge

customer base due to its low premium base.

About Hero Insurance Broking India limited

Principal Officer– Sanjay Radhakrishnan Headquarters- New Delhi

About Insurance Regulatory and Development Authority of India

(IRDAI)

Founded- 1999 Headquarters– Hyderabad, Telangana

Govt appointed 10 Merchant Bankers For Managing IPO of LIC

The Government of India has appointed 10 merchant bankers for

managing Initial Public Offering (IPO) of Life Insurance Corporation

(LIC). The IPOs of LIC will be launched in the month of January to

March 2022.

• The name of the 10 merchant bankers are: Goldman Sachs (India)

Securities; Citigroup Global Markets India; Nomura Financial Advisory

and Securities India; SBI Capital Market; JM Financial; Axis Capital;

BofA Securities; JP Morgan India; ICICI Securities; Kotak Mahindra

Capital Co Ltd.

Key points

i.The work of merchant bankers in the case of IPOs is management of

Promotional activities, Credit syndication, Project counselling, and

Portfolio management, etc.

ii.These merchant banks will form a coalition and give advice to the


Department of Investment and Public Asset Management (DIPAM) on

timing and floor prices for the IPOs.

iii.The government also has selected Concept Communications as their

advertising agency and Kfintech as the Registrar and Share transfer

agent of the IPO.

About Initial Public Offering (IPO)

• IPO is the selling of securities to the public in the primary market.

Primary market deals with new securities being issued for the first

time. It is also known as the new issues market.

• It is different from the secondary market where existing securities

are bought and sold. It is also known as the stock market or stock

exchange.

About Life Insurance Corporation of India (LIC)

Established– 1956 Chairman- M R Kumar

Managing Director- Pankaj Jain, M K Gupta, Raj Kumar, Siddhartha

Mohanty, Ipe Mini

SBI Raised Rs 4000 crore through AT1 bonds at Coupon of 7.72%

State Bank of India(SBI) has raised Rs 4000 crores through the

Basel Compliant Additional Tier 1 (AT1) bonds at a coupon rate of

7.72%, the lowest pricing ever offered on such debt, issued by an

Indian bank since the implementation of Basel III capital rules in 2013.

• This is the first AT1 bond issuance in the domestic market since the

implementation of new SEBI regulations.

• The offered AT1 is rated AA+, which is the highest rating in the

country for these instruments in view of the hybrid and high-risk

nature of these instruments.


ECONOMY & BUSINESS

AM/NS India, NSIC signed MoU to support MSMEs in Steel Sector

ArcelorMittal Nippon Steel India (AM/NS India) has signed a

Memorandum of Understanding(MoU) with National Small Industries

Corporation (NSIC) to provide critical steel products to the Micro,

Small & Medium Enterprises(MSMEs) in the steel sector.

• This is a first of its kind MoU signed by NSIC with a private steel

company.

• The MoU was signed by Ranjan Dhar, Chief Marketing Officer of

AM/NS India, and P. Udayakumar, Director (Planning & Marketing) of

NSIC.

Features of the MoU:

i.The team of AM/NS India and NSIC will develop a network to deliver

critical products to the MSME segments.

ii.Under this MoU, NSIC will provide access to its marketing network

and infrastructure and provide financial support to market AM/NS

India products to the relevant markets.

iii.Through this Partnership, MSME customers will avail special pricing

determined by the NSIC, AM/NS India and prevailing market

conditions.

About National Small Industries Corporation (NSIC):

NISC is a certified Government enterprise under the Ministry of

Micro, Small and Medium Enterprises (MoMSME).

CMD– Vijayendra Headquarters– New Delhi Established in 1955

About ArcelorMittal Nippon Steel India (AM/NS India):

AM/NS India, a joint venture between ArcelorMittal and Nippon Steel,


is an integrated flat carbon steel manufacturer.

CEO– Dilip Oommen

Headquarters– Surat, Gujarat

OBITUARY

Former Union Minister Oscar Fernandes Passed Away in Karnataka

Former Union Minister and Congress leader Oscar Fernandes passed

away in Mangaluru, Karnataka. He was 80 year old.

About Oscar Fernandes

i.He was born in March 27, 1941 Udupi district of Karnataka.

ii.Fernandes was also a trained performer of Yakshagana, the

traditional art form of coastal Karnataka. iii.Political Career- He has

served as the Union Cabinet Minister for Transport, Road and

Highways during the time of 2013-14. He was elected as the Member

of Parliament (MP) in Lok Sabha from Udupi constituency during 1980-

1996 and MP of Rajya Sabha during 1998-2021 from Karnataka

constituency.

iv.During the same time, he was provided additional charge of the

Ministry of Labour and Employment.

v.He has also served as the Chairman of the Central Election Authority

of the All India Congress Committee (AICC).

vi.He is the founder of the ” Jolly Club” NGO. The NGO provides

library room facilities for the youth.

vii.He was the Director of the Young Indian and Director of the

Associated Journals Private limited.


Former Indian footballer and Mohun Bagan captain Bhabani Roy

passed away

Former India international football player and Mohun Bagan legend

Bhabani Roy, 75, died in Kolkata on Monday following a prolonged

illness. Sports career

1. Roy joined Mohun Bagan in 1966 and played for the club till 1972

2. He made his international debut in the Merdeka Cup in 1969 and

represented Indian national team in three matches

3. Roy known for his overlapping skills, flourished in 1969 under Amal

Dutta’s coaching and the same year Mohun Bagan won the Calcutta

Football League and the IFA Shield

Trophies

1. Roy guided his club to win the Rovers Cup in 1968, 1970, 1971, 1972

(joint-winners)

2. Dr HK Mookherjee Shield in 1968 and 1969 (joint-winners)

3.Amrita Bazar Patrika Centenary Trophy and the Babu Kunwer Singh

Shield in 1968 4.Nehru Trophy in 1970.

Additional information

• Mohun Bagan Athletic Club is an Indian professional sports club based

in Kolkata, West Bengal.

• It was founded in 1889.

BOOKS & AUTHORS

Dr Bharati Pravin Pawar Inaugurated the Digital Population Clock at

IEG


Dr Bharati Pravin Pawar, Minister of State(MoS), Ministry of Health

and Family Welfare(MoHFW), inaugurated a digital population clock at

the Institute for Economic Growth(IEG) inside the University of Delhi.

• She also launched a book titled ‘Infant and Child Mortality In Assam –

Demographic and Socio-Economic Interrelations’ written by Dr

Dipanjali Haloi and Dr Suresh Sharma and a Health Management

Information System (HMIS) Brochure during the event.

• She presided over the seminar on “Population, Human Capital and

Sustainable Development”.

STATE NEWS

DP World signed MoU with TN Govt for Rs 2000 crore projects

The government of Tamil Nadu (TN) signed a Memorandum of

Understanding (MoU) with Dubai-based DP World for an investment of

Rs 2000 crore to establish a series of projects in Tamil Nadu. The

MoU was signed in the presence of MK Stalin, Chief Minister(CM) of

Tamil Nadu(TN) and officials of DP world.

Features of MoU:

i.The proposed investment of DP world will be used to establish

container terminal, cold storage and seafood processing zone and Free

trade zone with integrated rail siding, minor ports in the Eastern Coast

of TN and Inland Container Depots (ICDs) in Erode, Karur and Tirupur.

ii.These projects are estimated to create job opportunities for more

than 4500 people which includes 1500 direct and 3000 indirect.

Additional info:

i.In 2019, DP World signed an MoU with the TN Government to invest

Rs 1000 crore in establishing a free trade warehousing zone (FTWZ)


and Integrated Chennai Business Park (ICBP) in Vallur, Ponneri Taluk,

Tiruvallur District. ii.The FTWZ was inaugurated in July 2021.

About DP World:

Group Chairman & CEO– H.E. Sultan Ahmed Bin Sulayem

Headquarters– Dubai, United Arab Emirates Incepted in 1972

15 Setember 2021 GK Final - zenithacademy.com

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