Daily GK Update 4 June 2021, Daily Current Affairs 2021
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National (Current Affairs)
India brings forward target of 20% ethanol-blending in petrol to 2023
- The government has brought forward the target date for achieving 20 per cent ethanol-blending with petrol by two years to 2023 to help reduce India’s dependence on costly oil imports.
- Last year, the government had set a target of reaching 10 per cent ethanol-blending in petrol (10 per cent of ethanol mixed with 90 per cent of diesel) by 2022, and 20 per cent doping by 2030. Earlier this year, the target for 20 per cent blending was brought forward to 2025. And now, it has been further advanced to April 2023.
Upcoming Government Scheme Project Targets Agendas List
- To generate solar Power (500GW)-2030
- Har Ghar Jal-2024
- Bharatmala project-35000km highway by 2018-22
- Piyush Goyal target Railways to run 100% on electricity by -2024
- Achieve zero road accident fatalities: 2030
- Net Zero Emissions in India’s Energy System: 2050
Narendra Singh Tomar inaugurates Indus Best Mega Food Park in Chhattisgarh
- Union Minister for Food Processing Industries, Narendra Singh Tomar virtually inaugurated the Indus Best MegaFood Park along with Bhupesh Baghel, Chief Minister, Chhattisgarh, and in presence of Rameswar Teli, Union Minister of State for Food Processing Industries.
- The Mega Food Park will ensure value addition, a longer shelf life for farm produce, better price realization for farmers, excellent storage facility and will provide an alternate market for farmers in the region.
Note: About Chhattisgarh
- Chief Minister: Bhupesh Baghel
- Governor: Anusuiya Uikey.
- Capital: Raipur
India-UK launch Workstream to promote industrial energy efficiency
- India and United Kingdom have launched a new workstream to promote industrial energy efficiency. The workstream was launched under Industrial Deep Decarbonization Initiative (IDDI) of Clean Energy Ministerial (CEM).
- India and United Kingdom, launched a new workstream which is also coordinated by United Nations Industrial Development Organization (UNIDO).
Banking & Financial
ICICI Bank Became 2nd Globally to offer ‘SWIFT gpi Instant’ facility
- ICICI Bank on June 2 announced that it has tied up with SWIFT to offer instant facility for cross-border inward remittances.
- This facility will help overseas partner banks to send instant remittances on behalf of their customers to the beneficiary in India, thus making ICICI Bank first lender in Asia-Pacific and the second globally to offer the facility, called ‘SWIFT gpi Instant’, for cross border inward payments.
Note: About ICICI Bank
- CEO: Sandeep Bakhshi
- Headquarters: Vadodara
- Founded: June 1994
- Tagline: Khayal Apka
RBI lowers FY22 GDP forecast to 9.5%, CPI inflation projected at 5.1%
- The Reserve Bank of India (RBI) has cut its projection for gross domestic product (GDP) growth for fiscal 2021-22 (FY22) to 9.5 per cent from the earlier forecast of 10.5 per cent.
- Consumer price inflation (CPI), the central bank said, is likely to be at 5.1 per cent in FY22 as compared to the earlier forecast of 5.2 per cent (5.2 per cent in Q1; 5.4 per cent in Q2; 4.7 per cent in Q3; and 5.3 per cent in Q4) with risks evenly balanced.
Note: India GDP projected F22 (2021-2022)
- Word Bank-10.1%
- RBI: 9.5%
RBI Monetary Policy: Key highlights (4th June 2021)
- Reserve Bank of India Governor Shaktikanta Das on June 4 announced decisions made by the central bank’s Monetary Policy Committee (MPC) at its bi-monthly meeting.
- The MPC kept the repo and reverse repo rates unchanged while retaining the accommodative stance. Governor Das also announced additional measures that RBI will undertake to help businesses ailing from COVID-19 impact.
- MPC keeps repo rate unchanged at 4%
- Real GDP growth projected at 9.5% in 2021-2022
- CPI inflation projection rate at 5.1% for FY22
- India’s foreign exchange reserves rises to record $600 billion
- On tap liquidity window of Rs 15,000 crore for contact-intensive sectors like hotels and salons
- Special liquidity facility of Rs 16,000 crore to SIDBI
- G-SAP 2.0 worth ₹1.2 lakh crore will be taken in the second quarter of FY22 to support the market.
- Repo Rate-4.%
- Reverse Repo Rate -3.35%
- Marginal Standing Facility(MSF) Rate-4.25%
- Bank Rate-25%
- Cash reserve Ratio(CRR)-4%
- Statutory Liquidity Ratio(SLR)-18%
Bharti AXA Life in bancassurance pact with Shivalik Small Finance Bank
- Private life insurer Bharti AXA Life Insurance has entered into a bancassurance partnership with Shivalik Small Finance Bank for the distribution of its life insurance products through the bank’s pan-India network of branches.
- This alliance is a part of the bank’s various measures towards financial inclusion and acceleration of wealth creation for its customers.
Note: About Bharti AXA
- MD and CEO: Parag Raja;
- Founded: 2005.
Navy’s Hydrographic Survey Ship Sandhayak To Be Decommissioned
- Indian Navy’s hydrographic survey ship, Sandhayak would be decommissioned after serving the nation for 40 years.
- The decommissioning ceremony of INS Sandhayak will be held at naval dockyard Visakhapatnam and will be a low-key event attended only by in-station officers and sailors.
4th June: International Day of Innocent Children Victims of Aggression
- United Nations-designated International Day of Innocent Children Victims of Aggression is marked every year on June 4, to acknowledge the suffering of children who are the victims of physical, emotional and mental torture in conflict-ridden zones worldwide, and to mobile will and resources to secure a better future for them.
- International Day of Innocent Children Victims of Aggression also affirms the international community’s commitment to preventing widespread violations and strengthening the protection of the rights of minors in conflict-related situations.
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