Important Current Affairs 8th July 2021

INTERNATIONAL

Jim Whitehurst resigns as IBM president

•Jim Whitehurst has announced he is stepping down as the president of IBM. Whitehurst’s resignation is being seen as one of the several management moves IBM announced.

•The 53-year-old’s exit led to shares of the technological giant falling 4.8 per cent to $139.83, the most in five months. Whitehurst was appointed as IBM’s president last year. This was the first time in decades that the corporation split up the designation of a chief executive officer (CEO) and president.

NATIONAL

Tourism Ministry signs MoU with Yatra to strengthen hospitality, tourism industry

•The tourism ministry signed a Memorandum of Understanding (MoU) with Yatra to strengthen and enable the tourism and hospitality industry. The event was organised under an arrangement between the Ministry of Tourism and the Quality Council of India (QCI), where the MoU for the Tourism Ministry Yatra tie-up was signed.

•While the MoU is meant to mainly strengthen tourism, it also takes into consideration and provides support for accommodation units.

•The MoU outlines that both parties signing the document would participate in encourage the accommodation units to self-certify themselves on the System for Assessment, Awareness & Training for the Hospitality Industry (SAATHI) on the Online Travel Agency Platform (OTA).

•Earlier this year, the Ministry of Tourism had also signed an MoU with ClearTrip and Ease My Trip. There has been an ongoing effort by the ministry to strengthen the tourism sector in India while extending support to accommodation units.

Government of India launched Mobile app ‘Matsya Setu’ for Indian aqua farmers

•Union Minister for Fisheries, Animal Husbandry and Dairying, Giriraj Singh has launched the Online Course Mobile App “Matsya Setu”. The app was developed by the ICAR-Central Institute of Freshwater Aquaculture (ICAR-CIFA), Bhubaneswar, with the funding support of the National Fisheries Development Board (NFDB), Hyderabad. The online course app aims to disseminate the latest freshwater aquaculture technologies to the aqua farmers of the country.

•Matsya Setu app has species-wise/ subject-wise self-learning online course modules, where renowned aquaculture experts explain the basic concepts and practical demonstrations on breeding, seed production and grow-out culture of commercially important fishes like carp, catfish, scampi, murrel, ornamental fish, pearl farming etc.

•Better Management Practices to be followed in maintaining the soil & water quality, feeding and health management in aquaculture operations were also provided in the course platform.

Government created ministry of cooperation to boost cooperative movement

•The government has created a Ministry of Cooperation to boost the Indian cooperative movement and give a fillip to the indigenous enterprises. India’s first minister of cooperation will also be sworn in once the Union Cabinet reshuffle takes place and the new ministers take the oath of office at the Durbar Hall in President House. The new ministry of Cooperation will work to realise the vision of “Sahkar se Samriddhi” and will provide a separate administrative, legal and policy framework to boost the cooperative movement in the country.

•The development will aid the deeping of the cooperatives as true people-based movements with benefits going down to the grassroots. The ministry will be mandated to streamline the processes for the ease of doing business for cooperatives and ultimately aim to broaden and strengthen the multi-state cooperatives.

Prime Minister Narendra Modi expanded its council of ministers

•The Union Cabinet led by Prime Minister Narendra Modi has expanded its council of ministers. The names in the cabinet reshuffle include several new entrants as well as existing ministers who will be reassigned. The swearing-in ceremony of 43 Ministers was held at the Rashtrapati Bhavan on July 7, 2021. In total, 15 Ministers were inducted into the Union Cabinet and 28 Ministers were inducted as Ministers of State. This is the first cabinet reshuffle since the National Democratic Alliance (NDA) retained power in 2019.

•The Union Cabinet can have 81 members, as per the rule. There were 53 ministers in PM Modi’s cabinet but a series of them, including Union Health Minister Harsh Vardhan, resigned hours before the names were announced.

•PM Modi will continue to head the following – Ministry of Personnel, Public Grievances and Pensions; Department of Atomic Energy; Department of Space; All important policy issues; and All other portfolios not allocated to any Minister

Government includes Retail and Wholesale Trade in MSME sector

•Ministry of Micro, Small and Medium Enterprises has decided to include Retail and Wholesale trade as MSMEs but only for the limited purpose of Priority Sector Lending. This means that these segments of businesses can now take loans under the Priority Sector Lending arrangement under the MSME category. According to the Retailers Association of India (RAI), this will give retail micro, small and medium enterprises (MSMEs) the support they need to survive, revive and thrive.

•These Retail and Wholesale traders can now register on Udyam Registration Portal. It is a portal by the Government of India for the registration of MSMEs.

SPORTS

Jaipur to get India’s second largest cricket stadium

•The Board of Control for Cricket in India (BCCI) released a financial grant of Rs 100 crore to the Rajasthan Cricket Association (RCA), which will be used to build India’s second-largest cricket stadium. The facility, which will be second to the recently inaugurated Narendra Modi Stadium in Ahmedabad, is set to be built in Jaipur. The construction of the new stadium is likely to be completed within 24-30 months from commencement.

•Meanwhile, an amount of Rs 290 crores has been estimated to be spent on the construction of the second-largest cricket stadium in India. This amount will be sourced from; Rs 100 crore from the bank loan, Rs 100 crore from BCCI grant, Rs 90 crore from RCS funds, sale of boxes, seats & sponsorship. The proposed stadium will have a spectator capacity of 75,000.

IMPORTANT DAYS

World Chocolate Day celebrated 2021 : 7th  July

•World Chocolate Day or International Chocolate Day is observed on 7th July every year. The day celebrates the existence of chocolate in our lives. It is marked by eating chocolates and sharing with dear ones. The day is an annual global celebration of chocolate, which allows people to gorge and indulge, hopefully guilt-free, in it. On this day, chocolate lovers from all over relish eating different kinds of chocolate or create several dishes with it like cakes, pastries, sinful and gooey brownies, hot chocolate or chocolate mousse, without any guilt.

•World Chocolate Day was first celebrated in the year 2009. However, some even believe that people started marking July 7 as International Chocolate Day because it was the day when chocolate was first introduced to Europe in 1550.

SUMMITS AND MOU’S

Razorpay partners with Mastercard to launched ‘MandateHQ’

•Razorpay has partnered with Mastercard to launch ‘MandateHQ’. It is a payment interface that will help card-issuing banks to enable recurring payments for their customers. It must be noted that the Reserve Bank of India had issued a framework for processing e-mandates on recurring online transactions. The product by Razorpay is a step in this direction.

•The MandateHQ solution can be fully integrated with any bank within seven days. Razorpay’s Mandate HQ is an API-based plug-n-play solution that reduces the go-live time for any card issuing bank that wishes to enable recurring payments for its customers. MandateHQ will also enable businesses, especially subscription-based businesses, to get access to a wider customer base, who use debit cards, as recurring payments were mostly supported via credit cards previously.

AWARDS AND RECOGNITION

Korean Air wins Air Transport World’s Airline of the Year Award

•Korean Air has been announced the winner of one of the most prestigious honours in the aviation industry: Air Transport World’s (ATW) 2021 Airline of the Year. This year’s award is even more meaningful to Korean Air, as the global industry has been suffering from the unprecedented crisis caused by COVID-19.

•The company’s excellent leadership, its ability to remain operationally profitable through the industry’s worst-ever crisis, its strong commitment to health safety customer service excellence, and its remarkable relationship with employees.” The judges also noted the airline’s “transformational strategic deal to incorporate Asiana and create a larger, more global flagship carrier. Korean Air plans to continue to strengthen its position in the global aviation industry and aims to become one of the world’s top 10 airlines after successfully acquiring and integrating Asiana Airlines.

BANKING AND ECONOMY

Paytm launched ‘Postpaid Mini’ to provide small-ticket instant loans

•Paytm has announced the launch of Postpaid Mini, small-ticket loans that will give users the flexibility to access loans ranging from Rs 250 – Rs 1,000, in partnership with Aditya Birla Finance Ltd. The product is an extension of its Buy Now, Pay Later service, driving affordability amongst those new to credit. These small ticket instant loans will give flexibility to users and also help manage their household expenses to maintain liquidity during the ongoing Coronavirus (Covid-19) pandemic.

•Paytm Postpaid is offering a period of up to 30 days for repayment of loans at 0 per cent interest.

•There are no annual fees or activation charges, only a minimal convenience fee. With the launch of Postpaid Mini, the company will offer access to loans ranging from Rs 250 to Rs 1000, in addition to Paytm Postpaid’s instant credit of up to Rs 60,000.

•This could help users pay for their monthly expenses, including mobile and direct to home (DTH) recharges, gas cylinder booking, electricity and water bills, shop on Paytm Mall and more.