Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of  the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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March 11 | Daily Current Affairs 2021

OBITUARY

1. Hamed Bakayoko passed away. He was served as Prime Minister of which country?
A) Ivory Coast
B) Oman
C) Cuba
D) UAE
E) UK
Answer: A) Ivory Coast

Hamed Bakayoko – Prime Minister of Ivory Coast.

BANKING AND FINANCE

2. Which organization formed a group of experts to examine the feasibility of introducing Special Purpose Acquisition Companies (SPACs) like structures in India?
A) LIC
B) RBI
C) IRDAI
D) SIDBI
E) SEBI
Answer: E) SEBI

• Capital market regulator SEBI has formed a group of experts to examine the feasibility of introducing Special Purpose Acquisition Companies (SPACs) like structures in India
  The group, formed under Sebi’s Primary Market Advisory Committee (PMAC), has been asked to submit its report at the earliest.
• SPACs are formed to raise capital in an initial public offering (IPO) with the purpose of using the proceeds to identify and merge with a target company.
• SPACs are usually formed by private equity funds or financial institutions, with expertise in a particular industry or business sector, with investment for initial working capital and issue related expenses. Such companies have recently become popular in the US.
• There has been increasing demand that SPACs should be allowed in India as well.
• For public shareholders, SPACs give the advantage of investing along with the sponsors in the SPAC like private equity type transactions.
• The advantage for the sponsor is that it allows rapid deployment of capital to take advantage of opportunities. It also helps the target company acquired by the SPAC going public during periods of market instability or volatility in traditional IPO markets.
• SPACs also face several challenges.
• According to experts, SPACs have distinct trading cycles unlike an IPO.They also need to deal with uncertainty risk like divergent interests of sponsors, investors and the target company.
• In the Indian context, some of the challenges are that merger through scheme of arrangement could be time consuming.
• Similarly, the process of liquidation could take considerable time, which might reduce the attractiveness of SPAC over IPO.
• There are regulatory concerns and issues as well in the SPAC proposal.
• Other regulatory concerns could be the stage at which retail participation should be allowed.
• Sebi regulations also would need amendment to allow listing of a SPAC which could initially be a non-operating company.
• The other concern is regarding change in control post amalgamation, which again might require amendments to takeover regulations

SEBI:
Headquarters: Mumbai, Maharashtra
Chairman: Ajay Tyagi

SEBI – Expert group to examine feasibility of SPACs.

BOOKS AND AUTHORS

3. Who launched the Kindle version of Swami Chidbhavanandaji’s Bhagavad Gita through video conference?
A) Amit Shah
B) Nirmala Sitharaman
C) Venkaiah Naidu
D) Ramnath Kovind
E) Narendra Modi
Answer: E) Narendra Modi

• Prime Minister Shri Narendra Modi launched the Kindle version of Swami Chidbhavanandaji’s Bhagavad Gita through video conference.
• Launching the e-book version of Swami Chidbhavananda Ji’s Bhagvad Gita, the Prime Minister lauded the efforts to bring out e-book version as this would connect more youngsters with the noble thoughts of the Gita.Traditions and technology have merged, said the Prime Minister.
• He said that this e-book would also deepen the connect between the eternal Gita and the glorious Tamil culture.
• This e-book would enable the Tamil diaspora spread across the world to read it easily. He praised the Tamil diaspora for scaling new heights in many sectors and yet carrying the greatness of Tamil culture wherever they went.

Prime Minister, Ministry of Personnel, Public Grievances and Pensions, Department of Atomic Energy, Department of Space and All important policy issues and All other portfolios not allocated to any Minister:
Minister: Narendra Modi
Constituency: Varanasi, Uttar Pradesh

Narendra Modi – Launch the Kindle version of Swami Chidbhavanandaji’s Bhagavad Gita.

APPOINTMENTS

4. Imran Amin Siddiqui is appointed as Executive Director of which Bank?
A) Karnataka Bank
B) Indian Bank
C) Canara Bank
D) Bank of Baroda
E) State Bank of India
Answer: B) Indian Bank

• Imran Amin Siddiqui, General Manager of Indian Bank, has been appointed as the Executive Director of the state-owned lender.
• Siddiqui has assumed the office of Executive Director of the Bank with effect from March 10, 2021.

Satyanarayana Raju takes charge as Canara Bank ED:

• Satyanarayana Raju has been appointed as the Executive Director of Canara Bank.
• Earlier, Raju served as Chief General Manager, Bank of Baroda.
• https://www.thehindubusinessline.com/money-and-banking/satyanarayana-raju-takes-charge-as-canara-bank-ed/article34037269.ece
• Nitesh Ranjan and Vivek Wahi have assumed charge as Executive Director (ED) at Union Bank of India (UBI) and Central Bank of India (CBoI), respectively.
• Rajeev Puri and AB Vijayakumar also joined CBoI and Bank of Maharashtra (BoM), respectively, as EDs.

Indian Bank:
Hq: Chennai,Tamilnadu
MD & CEO: Ms. Padmaja Chundru
Tagline : Your Own Bank

Imran Amin Siddiqui – ED of Indian Bank.

5. Thomas Bach re-elected as IOC president until which year?
A) 2025
B) 2026
C) 2024
D) 2023
E) 2022
Answer: A) 2025

• Thomas Bach was re-elected as president of the International Olympic Committee for a final four-year term with his immediate focus on this year’s delayed Tokyo Games

Thomas Bach – Re-elect as IOC president until 2025.

AWARDS

6. Which organisation won prestigious King Bhumibol World Soil Day – 2020 Award of Food and Agriculture Organization?
A) CII
B) ICAR- Indian Institute of Soil Science
C) CBDC
D) NTPC
E) NHAI
Answer: B) ICAR- Indian Institute of Soil Science

• Ambassador of India to Thailand Suchitra Durai today received the prestigious King Bhumibol World Soil Day – 2020 Award of Food and Agriculture Organization on the behalf of the Indian Council of Agricultural Research.
• Minister of Agriculture and Cooperatives of Thailand Dr. Chalermchai Srion conferred the award in a Ceremony held at Bangkok.
• The international recognition was announced by the Food and Agriculture Organization, Rome on the eve of World Soil Day – 2020 in view of the ICAR’s excellent contributions in Soil Health Awareness on the theme Stop soil erosion, save our future during the last year.
• The ICAR-Indian Institute of Soil Science, Bhopal, Madhya Pradesh organized a wide array of several programmes with great fervour and enthusiasm for the school students, farming community and general public.
• The Institute organized a massive awareness campaign for preserving SOIL – Our Mother Earth to commemorate the World Soil Day including March-Past and distribution of promotional materials on soil health to the participants.
• The Executives of the Ministry of Agriculture and Cooperatives, Executives of Land Development, Soil and Fertilizer Society of Thailand, Soil and Water Conservations Society of Thailand, World Soil Association and Executives of other Departments under the Ministry of Agriculture and Cooperatives participated in the event

The ICAR-Indian Institute of Soil Science – King Bhumibol World Soil Day – 2020 Award of Food and Agriculture Organization.

SCIENCE AND TECHNOLOGY

7. ISRO and which space agency have decided to join hands to take up activities on rice crop area and air quality monitoring using satellite data?
A) USA
B) Japan
C) Iraq
D) Iran
E) UAE
Answer: B) Japan

• Indian Space Research Organisation (ISRO) and Japan Aerospace Exploration Agency (JAXA) have decided to join hands to take up activities on rice crop area and air quality monitoring using satellite data.
• Apart from reviewing on-going cooperation in earth observation, lunar cooperation and satellite navigation, both sides have agreed to explore opportunities for cooperation in space situational awareness and professional exchange programme.
• Both agencies signed an Implementing arrangement for collaborative activities on rice crop area and air quality monitoring using satellite data.

ISRO:
Abbreviation: Indian Space Research Organisation
Founded: 1969
Headquarters: Bengaluru, Karnataka
Chairman: Kailasavadivoo Sivan

ISRO + Japanese space agency JAXA – Join hand to monitor air quality.

NATIONAL AFFAIRS

8. The Union cabinet has approved changes to the Insurance Act for increasing the foreign direct investment (FDI) limit to 74 per cent from the present how many per cent?
A) 49
B) 23
C) 37
D) 78
E) 28
Answer: A) 49

• The Union cabinet has approved changes to the Insurance Act for increasing the foreign direct investment (FDI) limit to 74 per cent from the present 49 per cent.
• In her Budget speech for 2021-22, Finance Minister Nirmala Sitharaman had proposed the increase to allow foreign ownership and control with safeguards.
• Estimates indicate insurance companies might require additional Rs 15,000 crore of capital over the next three years, which could be made easier with enhancement of the FDI limit, said Divakar Vijayasarathy, Managing Partner at DVS Advisors LLP.
• As of March 2020, average foreign investment in 23 life insurance companies was
  37.41 per cent.
• Only in nine private life insurers, the foreign investment has touched 49 per cent.
• In 21 private general insurers, average FDI stood at just 28.18 per cent.
• In the standalone health insurance industry, average FDI is 30.22 per cent/ For and for the overall non-life industry, average FDI stood at 20.22 per cent.
• The increase of the FDI limit will provide insurance companies with committed funds to improve the penetration of insurance in the country, said Prashant Tripathy, MD and CEO of Max life Insurance.

Cabinet – Approve amendment to Insurance Act, paving way for 74% FDI limit

9. Which organization has entered into an agreement with UTIITSL to issue free PVC Ayushman cards to beneficiaries of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana in 11 states and Union Territories?
A) NHA
B) NTPC
C) NHAI
D) NHPC
E) NMDC
Answer: A) NHA

• The National Health Authority (NHA) has entered into an agreement with UTI Infrastructure Technology and Services Limited (UTIITSL) to issue free PVC Ayushman cards to beneficiaries of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana in 11 states and Union Territories.
• The development is in line to reach out to the maximum beneficiaries of the scheme.
• UTIITSL is the second agency after Common Service Centre (CSC SPV) which has been empanelled by the NHA to provide free PVC Ayushman cards to the beneficiaries.
• The facility to issue free Ayushman cards has been rolled out in 11 states and UTs  Bihar, Manipur, Uttar Pradesh, Haryana, Tripura,Nagaland, Chandigarh, Puducherry, Chhattisgarh, Madhya Pradesh and Uttarakhand with immediate effect.

The National Health Authority:
Chief: RS Sharma

NHA + UTIITSL – Issue new PVC Ayushman Bharat cards for free.

10. The festival of Shivratri ‘Herath’ is being celebrated across which state/UT?
A) Nagaland
B) Karnataka
C) Delhi
D) Ladakh
E) Jammu & Kashmir
Answer: E) Jammu & Kashmir

• In the Union Territory of Jammu and Kashmir, the festival of Shivratri ‘Herath’ is being celebrated across Jammu and Kashmir.
• Festival Mahashivratri locally known as Herath in Kashmir is being celebrated across J&K by Kashmiri Pandit Community with religious fervour by offering “Watak Nath Pooja”.
• The festival assumes colossal importance among the Kashmiri Pandit Community who celebrate it to mark the wedding of “Lord Shiva with Goddess Parvati”.

Jammu and Kashmir:
Capital: Srinagar(summer), Jammu(winter)
Governor: Manoj Sinha

J&K – Festival of Shivratri ‘Herath’.

11. How many state/UTs have successfully operationalised the ‘One Nation One Ration Card system’?
A) 10
B) 17
C) 27
D) 16
E) 18
Answer: B) 17

• Seventeen states have successfully operationalised the ‘One Nation One Ration Card system’ with Uttarakhand being the latest State to complete the reform.
• States completing One Nation One Ration Card system reform are eligible for additional borrowing of 0.25 per cent of Gross State Domestic Product (GSDP).
• Accordingly, these States have been granted additional borrowing permission of ₹37,600 crore by the Department of Expenditure, Ministry of Finance.

List of 17 states that have implemented one nation one ration card system.

1. Andhra Pradesh
2. Goa
3. Gujarat
4. Haryana
5. Himachal Pradesh
6. Karnataka
7. Kerala
8. Madhya Pradesh
9. Manipur
10. Odisha
11. Punjab
12. Rajasthan
13. Tamil Nadu
14. Telangana
15. Tripura
16. Uttarakhand
17. Uttar Pradesh

What is One Nation One Ration Card System?

• One Nation One Ration Card System is an important citizen-centric reform.
• Its implementation ensures the availability of ration to beneficiaries under the National Food Security Act (NFSA) and other welfare schemes, especially the migrant workers and their families, at any Fair Price Shop (FPS) across the country.
• The four citizen-centric areas for reforms identified by the Department of Expenditure were
  (a) Implementation of One Nation One Ration Card System,
  (b) Ease of doing business reform,
  (c) Urban Local body/ utility reforms and
  (d) Power Sector reforms.

17 states – Implement one nation one ration card system.

12. Which organisation organizes first ever virtual trade fair to boost export potential of India’s agricultural and processed food products?
A) NACH
B) NHA
C) CII
D) CCI
E) APEDA
Answer: E) APEDA

• In a first of its kind initiative for boosting export potential of India’s agricultural and processed food products during COVID19 pandemic, APEDA launched its first Virtual Trade Fair (VTF) yesterday on 10th March 2021.
• The fair will conclude on March 12, 2021.
• The fair with a theme ‘India Rice and Agro Commodity’, will focus on showcasing the exports potential of various agricultural commodities.
• Importers as well as exporters will be key participants of the VTF.
• The potential buyers or importers and visitors will get to explore a wide range of food products presented by the exporters through this virtual fair.
• The key products which would be displayed through VTF include – basmati rice, non-basmati rice, millets, wheat, maize, groundnut and coarse grains.
• So far 135 Exhibitors have registered for the VTF. Further 266 Indian and international buyers from United Arab Emirates, Brazil, New Zealand, France, Saudi Arabia, United Kingdom, Afghanistan, Bahrain, Egypt, Fiji, Philippines, Qatar, Sudan, Myanmar, Netherlands, and Peru have registered at the starting of the events.
• The buyers have been generated with the support of Indian Embassies abroad. An aggressive campaign of Virtual Trade Fair is running on Social media.

APEDA – First virtual trade fair to boost export of agricultural, processed food products.

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