Important Current Affairs 23rd November 2021

INTERNATIONAL

Russia successfull test of its ‘Zircon’Hypersonic Cruise Missile

• Russian Navy successfully test-fired the ‘Zircon’ Hypersonic Cruise Missile from Frigate – Admiral Gorshkov warship, which rightly hit the test target placed in the Russian Arctic waters. Russia destroyed its own satellite in low-earth orbit using an Anti-Satellite (ASAT) Missile named ‘Nudol’, which led to the formation of a cloud of space debris that could potentially destroy other orbiting satellites & the International Space Station (ISS).

NATIONAL

INS Visakhapatnam commissioned into Indian Navy

• INS Visakhapatnam, a P15B stealth guided-missile destroyer has been commissioned into the Indian Navy at the Naval Dockyard, Mumbai. This is the first of the four ‘Visakhapatnam’ class destroyers. It has been designed by the Indian Navy’s in-house organization Directorate of Naval Design and constructed by Mazagon Dock Shipbuilders Limited, Mumbai. INS Visakhapatnam measures 163m in length, 17m in breadth with a displacement of 7,400 tonnes. It was commissioned in the presence of Raksha Mantri Shri Rajnath Singh.

SPORTS

Indonesia Masters: Japan's Momota wins first title since 2020 car accident

• In badminton, Kento Momota of Japan beat Anders Antonsen of Denmark 21-17, 21-11 to win the men’s singles title at the 2021 Indonesia Masters Super 750 badminton tournament. The US$600,000 tournament was held at Bali in Indonesia from November 16 to 21, 2021. In women’s single, An Seyoung of South Korea defeated top-seed Akane Yamaguchi of Japan 21-17, 21-19 to win the title.

AWARDS & RECOGNITION

National Book Award 2021: Jason Mott won for fiction

• The 72nd edition of the National Book Award was organized as a virtual event by the National Book Foundation. Jason Mott won the 2021 National Book Award for fiction for his novel “Hell of a Book”, a narrative about a black author’s adventure while travelling around in a book tour.

Tata Literature Live! Literary Awards for 2021 announced

• India’s one of the best-selling authors, Anita Desai has been conferred with the Tata Literature Live! Lifetime Achievement Award for 2021 to recognise her long literary career which spans over 50 years. Meanwhile, the Poet Laureate award for 2021 has been conferred upon Indian poet Adil Jussawala. Both these awards are presented to recognise exceptional work which has made a significant impact in the Indian literary field.

• The Twelfth Edition of Tata Literature Live! The Mumbai Litfest was organised from November 18th to 21st 2021. She has received several awards and honours in the course of her long-spanning literary career, including the Padma Bhushan, Sahitya Akademi Award and later Fellowship, and the Benson Medal of the Royal Society of Literature.

President Kovind presents Gallantry Awards 

• President of India, Ram Nath Kovind presented Gallantry Awards and Distinguished Service Decorations in Defence Investiture Ceremony at Rashtrapati Bhavan. Gallantry Awards have been instituted by the Government of India to honour the acts of bravery and sacrifice of the officers/personnel of the Armed Forces as well as other lawfully constituted forces and civilians. The order of precedence of these awards is Vir Chakra, Kirti Chakra and Shaurya Chakra.

Vir Chakra:

• Group Captain Abhinandan Varthaman was accorded the Vir Chakra by President Ram Nath Kovind for his role in pushing back Pakistan’s fighter jets in February 2019. Abhinandan Varthaman was Wing Commander then. In the ensuing aerial dogfight, he shot down a Pakistani F-16 fighter aircraft on February 27, 2019.

Kirti Chakra

• President Kovind accorded the second-highest peacetime gallantry award Kirti Chakra (posthumously) to Sapper Prakash Jadhav for neutralising terrorists in an operation in Jammu and Kashmir. His wife and mother received the award.

Shaurya Chakra

• Major Vibhuti Shankar Dhoundiyal was accorded the Shaurya Chakra (posthumously) for his role in an operation where five terrorists were eliminated and 200 kg explosive material was recovered. His wife Lt Nitika Kaul and mother received the award.

• Naib Subedar Sombir was accorded the Shaurya Chakra posthumously for killing an A++ category terrorist during an operation in Jammu and Kashmir. His wife Suman Devi and mother Rajendra Devi received the honour.

• The President also conferred the Shaurya Chakra to Major Maheshkumar Bhure who is an alumnus of Sainik School Satara. According to the citation, Major Bhure led an operation in which six top terrorist commanders were killed.

BANKING AND ECONOMIC

SBI Research has revised upwards India's GDP growth projection

• State Bank of India (SBI) economists in its research report “Ecowrap”, has revised upwards the GDP growth projection for India to the range of 9.3%-9.6% for FY22 (2021-22). Earlier this was estimated in the range of 8.5%-9%. The reason for the upward revision is a decline in the number of COVID cases.

• The analysis suggested that “India remained unscathed in Q3 from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections during Q3 2021.” As per the report, India has recorded only an 11 per cent increase in Covid-19 cases during Q3 this year the second-lowest among the top 15 most affected countries.

EPFO may park 5% annual deposits in infra investment trusts, alternative funds

• The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) have approved that up to 5 per cent of the annual deposits can be invested in alternative investment funds (AIFs) including infrastructure investment trusts (InvITs). This investment will offer diversification to the EPFO’s investment basket.

• The Finance Investment and Audit Committee (FIAC) have been tasked to decide upon the investment options, on a case-to-case basis. However, the board has also decided to focus only on government-backed alternatives, which are category one funds like public sector InvITs and bonds. The AIFs are regulated by the Securities and Exchange Board of India (SEBI).

RBI authorized RBL Bank to collect Direct Taxes

• Reserve Bank of India (RBI) authorized RBL Bank to collect direct taxes on behalf of the Central Board of Direct Taxes (CBDT) based on a recommendation from the Controller General of Accounts, Ministry of Finance and Government of India. Now, the customers of RBL Bank could pay their direct taxes through RBL Bank’s mobile banking or net banking platforms or through branch banking networks.

• RBL Bank is one of India’s leading private sector banks with an expanding presence across the country.

• The Bank offers specialized services under five business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets and Treasury and Financial Markets Operations.

RBI calls for public comments on digital lending

• The Working Group on Digital Lending including Lending through Online Platforms and Mobile Apps, which was constituted by the Reserve Bank of India (RBI), has submitted its report. RBI had set a WG on Digital Lending including Lending through Online Platforms and Mobile Apps, with Jayant Kumar Dash, Executive Director, RBI, as the Chairman to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players.

• In the near term, the WG suggested setting up a nodal agency in consultation with stakeholders to verify the technological credentials of the Digital Lending Apps (DLAs) of the balance sheet lenders and Lending Service Providers (LSPs) operating in the digital lending ecosystem.