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Important Current Affairs 10th September 2021

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NATIONAL

India will host the G-20 summit in 2023 for the first time

•India will hold the G20 presidency from December 1, 2022, and will convene the G20 leaders’ summit in 2023 for the first time.

•Piyush Goyal, Union Minister of Commerce and Industry Minister has been appointed as India’s Sherpa for the G20 in 2023 (18th edition). A sherpa is a diplomat who undertakes preparatory work prior to a summit conference. The 2021 edition of the G20 meet will be held in Rome, Italy. The 2022 G20 meet will be held in Bali, Indonesia.

Gujarat rolls out ‘Vatan Prem Yojana’ for rural development

•The Government of Gujarat announced, that it plans on undertaking public welfare projects worth Rs. 1,000 crores jointly with non-resident Gujaratis by December 2022. The projects will be under the state government’s ‘Vatan Prem Yojana’. The Yojana was launched in Gujarat focusing on rural development through public and state contributions.

•The state government will undertake various rural development projects and activities.

•This scheme will be undertaken with 40% state government’s contribution and 60% contribution from the general public.

•The state government has invited Non-Resident Gujaratis and NRIs are also invited to contribute.

SPORTS

Guinness World Records recognise Ronaldo for most goals scored in international football by an individual

•Portuguese captain Cristiano Ronaldo has broken the world record for most goals scored in men’s international football. Ronaldo surpassed Iranian striker Ali Daei’s long-held record of 109 international goals by scoring a brace against Ireland in a World Cup Qualifier. Ronaldo at 36 years of age is now a Guinness world record holder of most international goals of all time with 111 goals.

•The Guinness world book of records has recognised Cristiano Ronaldo as a world record breaker for the most goals scored in international football (soccer) matches scored by an individual (male). Ronaldo achieved the feat scoring goals for his native Portugal between 2003 and 2021 proactively over a span of 18 years with a career still going strong as he looks to overcome yet another new challenge after his move away from Turin with a year left on his contract with the Bianconeri.

APPOINTMENT & RESIGNATION

Andhra Pradesh Government appointed Rajnish Kumar as economic advisor

•The Andhra Pradesh government has appointed Rajnish Kumar as its economic advisor. A former SBI chairman, Rajnish Kumar’s tenure in the cabinet rank position is for two years. Rajnish Kumar who had retired as SBI chairman in October 2020, is an independent non-executive director at the Hong Kong and Shanghai Banking Corporation. He joined SBI as a Probationary officer in 1980.

•The appointment comes amid the growing concerns over the state’s financial situation which has been badly hit by the Covid pandemic, even as the opposition has been critical over the sops and freebies being distributed by the Y.S. Jagan Mohan Reddy-led state government. Rajnish Kumar’s appointment is expected to help the state government steer through the financially tough juncture.

Neeraj Chopra appointed as the brand ambassador of Tata AIA Life names

•Tata AIA Life Insurance has announced the signing of a multi-year brand partnership with Indian athlete and Olympic gold medallist Neeraj Chopra, as its brand ambassador. This association also marks the very first brand partnership to be signed with the champion javelin thrower, post his historic win at the recent Tokyo Olympics.

•Neeraj Chopra closely embodies Tata AIA’s vision of enabling dreams and inspiring healthier and happier lives and its core value of passion for excellence. He has consistently set high benchmarks and pioneered change through dedication to his sport. Over the next few years, Neeraj will support Tata AIA’s efforts in offering solutions to its consumers across the country.

Central Government  appointed G.S Pannu as Officiating ITAT President

•The Central Government has appointed G.S. Pannu as President of the Income Tax Appellate Tribunal. G. S. Pannu is presently a Vice-President, ITAT, New Delhi and will be Officiating President of ITAT with effect from September 6, 2021, till the appointment of regular President.

•Mr. Pannu was born on 01 Aug 1962 at Hoshiarpur (Punjab), he is a C.A and joined Government Service 14 September 2000. Presently posted as Vice-President at ITAT, New Delhi. Before joining ITAT, practised as a Chartered Accountant at New Delhi from 1986-2000.

IMPORTANT DAYS

World Suicide Prevention Day 2021: 10 September

•International Association for Suicide Prevention (IASP) observes World Suicide Prevention Day (WSPD) on 10 September every year. The purpose of this day is to raise awareness around the globe that suicide can be prevented. The theme for the 2021 World Suicide Prevention Day is “Creating hope through action”.

•The International Association for Suicide Prevention (IASP) collaborates with the World Health Organization (WHO) and the World Federation for Mental Health (WFMH) to host World Suicide Prevention Day with various activities around the world since 2003.

BANKING AND ECONOMIC

V. Vaidyanathan is re-appointment of IDFC FIRST Bank as MD & CEO

•The Reserve Bank of India (RBI) has granted its approval for the re-appointment of V. Vaidyanathan as the Managing Director & Chief Executive Officer (‘MD & CEO’) of the IDFC First Bank.

•Vaidyanathan has been appointed for a further period of three years, which will be effective from December 19, 2021. He first took charge as the MD & CEO of IDFC FIRST Bank in December 2018, after the merger of IDFC Bank and Capital First.

Government appoints 10 merchant bankers to manage IPO of LIC

•The government of India has appointed 10 merchant bankers for managing the Initial Public Offering of Life Insurance Corporation of India (LIC). The IPO of LIC is likely to be launched in the January-March quarter of 2022. The role of merchant bankers in the case of IPO is of Issue management, Promotional activities, Credit syndication, Project counselling, and Portfolio management, etc.

Ten merchant bankers:-

•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.

RBI removes restrictions on UCO Bank, lending curbs removed after 4 years

•Reserve Bank of India has taken public sector lender UCO Bank out of the Prompt Corrective Action (PCA) framework on improvement in financial and credit profile. This decision gives the bank more freedom for lending, especially to corporations and grow the network, subject to prescribed norms. The Kolkata-based lender was placed under PCA in May 2017 on account of high Net Net-Performing Assets (NPAs) and negative Return on Assets (RoAs).

•Following UCO Bank’s exit, two banks — Indian Overseas Bank and Central Bank of India — remain under PCA. The central bank uses the PCA framework to rein in banks that have breached certain regulatory thresholds in bad loans and capital adequacy. PCA entails curbs on high-risk lending, setting aside more money on provisions and restrictions on management salary.

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