Current Affairs 8th , 9th May 2021 , Daily GK Update

Daily GK & Current affairs is very important for any Government and other Competitive Exams. All the important updates based on current affairs 2021 are included in this Daily Current Affairs 8th , 9th May 2021 article.

Daily GK Update 8 , 9 May 2021, Daily Current Affairs 2021 

Current Affairs 8th ,9th May 2021: Here we are regularly update the Daily GK Update & daily Current affairs 2021. If you are preparing for Government Job Exams then it is very important for you to read the Daily Current Affairs 2021, Daily GK Update 2021. All the important updates based on current affairs 2021 are included in this Daily Current Affairs 2021 article. All the serious candidates are advised to bookmark this page and read the GK Update on daily basis. It will help you mug up the important current affairs 2020 / Daily GK Update for LIC, IBPSSBI POSSCRailways  , SBI Clerk 2021 State and NRA CET Exam of 2021.

National (Current Affairs)

PM Modi to participate in European Council meeting hosted by Portugal

PM Modi to participate in European Council meeting hosted by Portugal

  • The Prime Minister Narendra Modi is to take part in the European Council on May 8,2021. the India-European Union Leaders’ Meeting is to be hosted by Portugal. Portugal currently holds the chair of the grouping.
  • The PM Modi is to participate in the meet along with other Government heads of the members of the European Union. The leaders are to exchange views on COVID-19 and also will foster sustainable and inclusive growth.
  • Aims: India and European Union is discuss the free trade deal. They will discuss about agreements regarding Geographical Indications and also investment protection agreement. The Investment protection agreement is to “Europeanise” the agreements India has had so far with the individual member states.

International (Current Affairs)

PESCO: EU approves US participation for the first time

  • The European Union recently approved the requests of Norway, Canada and United States to participate in Permanent Structured Cooperation (PESCO) defence initiative.
  • This is the first time, the European bloc has allowed a third state to participate in the PESCO project. The countries will now participate in the Military Mobility Project in Europe.
  • About PESCO: It is a part of the European Union security and defence policy. It was introduced based on the Treaty of European Union introduced by Treaty of Lisbon in 2009.

Reliance Retail 2nd fastest growing retailer in world

Reliance Retail 2nd fastest growing retailer in world

  • Billionaire Mukesh Ambani’s Reliance Retail Ltd has been ranked second fastest growing retailer in the world in the 2021 ranking of global retail power houses by Deloitte, down from top rank secured the previous years.
  • It has been ranked 53rd in the list of Global Powers of Retailing, improvement from 56th earlier, according to the Deloitte report.

Top 3 Rank

  • Rank 1: US giant Walmart Inc
  • Rank 2: Amazon.com Inc
  • Rank 3: Costco Wholesale Corporation

Banking & Financial

RBI sets up an advisory group headed by SBI MD S. Janakiraman to assist RRA 2.0

RBI sets up an advisory group headed by SBI MD S. Janakiraman to assist RRA 2.0

  • The Reserve Bank of India recently constituted a Committee under the Managing Director S Janaki Raman. The committee is to assist the second Regulatory Review Authority.
  • The committee will assist the authority to identify areas, guidelines, regulations and returns. It will submit reports periodically to RRA that will provide suggestions and recommendations.
  • RRA 2.0 was established in April 2021. The authority is to function for a period of one year. It will review the regulatory prescription internally. Also, it will examine and suggest changes required in the dissemination process of RBI instructions and circulars.
  • It will focus on reducing compliance burden. This is to be achieved by simplifying procedures and reducing reporting requirements wherever possible.

List of Latest Committee and Headed by

  • Panel for conversion of large NBFCs into banks: P K Mohanty
  • RBI forms working group on digital lending as frauds come into sharp focus: Ayant Kumar Dash
  • Evaluate Bank Applications: Shyamala Gopinath
  • RBI to set up Regulations Review Authority: M Rajeshwar Rao
  • RBI set up a committee about Asset Reconstruction Companies (ARC) – Sudarshan Sen

RBI to conduct first SLTRO for small finance banks

RBI to conduct first SLTRO for small finance banks

  • The Reserve Bank of India recently announced that it is to conduct the first Special Long Term Repo Operation (SLTRO) of Rs 10,000 crores for Small Finance Banks.
  • The RBI will conduct the SLTRO for each month starting from May 2021. This is to continue till October 2021. The SLTRO will be valid for three years. All the Small Finance Banks shall participate in the SLTRO. However, these banks should make sure that the amount borrowed from RBI should be lent only to specified segments such as unorganised sectors and small business units.
  • SLTRO: This is highly beneficial for the banks as they get long term funds at lower rates. This will make the banks to reduce the interest banks for borrowers. Thus, Special Long Term Repo Operations will help Reserve Bank of India to ensure that the banks reduce their lending rates without reducing the policy rates.

Appointment

Himanta Biswa Sarma to be sworn in as Assam’s 15th CM

Himanta Biswa Sarma to be sworn in as Assam’s 15th CM

  • Himanta Biswa Sarma would be sworn in as the 15th Chief Minister of Assam at a simple ceremony on May 10.
  • BJP allies AGP and UPPL have already assured their support to Sarma as the next CM. A team of BJP leaders including Sarma, Assam BJP President Ranjeet Kr Dass, outgoing CM Sarbananda Sonowal, AGP President Atul Bora and UPPL President Promod Boro would be meeting Governor Jagdish Mukhi and stake claim to form the government.

Note: About Assam

  • Capital: Dispur
  • Governor: Jagdish Mukhi

Science

2DG- DRDO’s Anti-Covid Drug approved for emergency use

  • The Drugs Controller General of India recently approved an oral drug to treat COVID-19 called the 2-DG. The 2-DG was developed by the Defence Research Development Organisation for Emergency Use. 2-DG is 2-Deoxy – D – Glucose. It was developed in collaboration with Dr Reddy’s Laboratories.
  • The drug ensures faster recovery of hospitalised patients and will reduce supplemental oxygen dependence during clinical trials.

Important Day

8 May: World Red Cross Day

  • World Red Cross Day is also known as Red Crescent Day is celebrated on May 8 every year. This date marks the birth anniversary of Henry Dunant, who is the founder of the International Committee of the Red Cross (ICRC). He is also a recipient of the Nobel Peace Prize.
  • It is an annual celebration of their principles. The day is celebrated by the Red Cross society across all the countries. It works for the welfare of people. World Red Cross Society provides for food shortages, natural disasters, wars as well as diseases of an epidemic.
  • Theme 2021: ‘Together we are unstoppable’

May 8: World Migratory Bird Day

  • Every year, the World Migratory Day is celebrated on second Saturday of May and October. This year, it is celebrated on May 8th.
  • The main objective of celebrating the World Migratory Day is to increase awareness of migratory birds and their importance in international cooperation to conserve them. It also creates awareness for conserving the habitats of the migratory birds, especially the wetlands.
  • Theme 2021: Theme: Sing, fly, Soar – Like a Bird

08 May: World Thalassemia Day

  • World Thalassemia Day is celebrated on May 8 every year to commemorate Thalassemia victims and to encourage those who struggle to live with the disease.
  • Thalassemia is an inherited blood disorder that is characterised by less haemoglobin and lesser than normal blood cells.
  • Theme 2021:  “Addressing Health Inequalities Across the Global Thalassaemia Community”.

9th May: Mother’s Day 2021

  • The second Sunday of May is celebrated as Mother’s Day is celebrated every year in India.
  • Mother is the first teacher and friend of her child. She is the one who is endowed with all the power. No creature in this world can be as powerful as a mother!! She goes through unimaginable pain to give us the gift of life and never falters.

Obituary

Veteran Music Composer Vanraj Bhatia Passes Away

  • The veteran Music Composer Vanraj Bhatia, who was the best-known composer of Western classical music in India, has passed away after a brief illness.
  • His work ranged from composing music for advertisement films, feature films, mainstream films, television shows, documentaries etc.

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