Shankar School of Banking October 9 , 2021 143


Two National Awards for `Karnataka Vikas Grameena Bank

  • Karnataka Vikas Grameena Bank (KVGB) which is sponsored by Canara Bank, has won two national awards ‘APY Big Believers’ and ‘Leadership capital’ for significant enrolment under the Atal Pension Yojana (APY) from the Pension Fund Regulatory and Development Authority (PFRDA).
  • The bank with jurisdiction over nine district has a business turnover of ₹28,410 crore with a clientele base of nearly 90 lakh.
  • It has also planned to implement all the three social security schemes (PMJJBY, PMSBY, and APY) launched by the Union government and the bank’s priority to ensure access to social security benefits to villagers and people from unorganised sectors continues along with other banking activities.

Atal pension yojana: It is a social security scheme for poor, under privileged and Unorganised sector workers launched on 2015`.

It is regulated by Pension Fund Regulatory and Development Authority through National pension system.

Any Citizen between the age of 18-40 is eligible to apply for the scheme, and it provides a minimum gauranteed pension ranging from 1000-5000 on attaing 60 years.


Tata wins back the bid to Air India

  • Tata Sons Subsidiary Talace Pvt Ltd wins the bid for debt laden Air India, with a bid amount of Rs 18,000 crore.
  • The company would own a 100% stake in air India, and 100% in international lowcost arm Air India express, It also enjoys 50% in ground handling joint venture.
  • Tata will also own the iconic brands Air India, Indian Airlines and Maharaja along with 141 aircraft and an access to 173 destination networks including 55 international.  
  • Of the enterprise value of Rs 18,000 crore, debt component of Air India is Rs 15,300 crore, Remaining Rs 2700 crore will be the cash paid to the government.
  • Tata with a market value of 5.2% in Air Asia and 8.3% market value in Vistara, which together will raise Market share of Air India to 26.7%.
  • This will make Tata the second biggest player after IndiGo.

Candidates recommended for lateral entry posts

  • The centre recommended 31 candidates from orivate and public sector undertakings for appointment at senior and mid level positions in various union ministries under lateral entry programme on contract basis.
  • The posts of Joint secretary, Director and Deputy Secretary are filled by Group A officers of All India Service (IAS, IPS and IRS).
  • The department of Personnel and Training (doP&t) requested Union Public Service Commission (UPSC) to select the canditates suitable for the government at the level of Joint Secretary.
  • Out of 2031 applications received for the posts of Joint secretary, Director and Deputy Secretary together, 231 candidates were shortlisted to interview by the UPSC, and finally 31 candidates were recommended.


India’s First e-fish market app launched in Assam

  • Assam Fisheries, environment and Forest minister Parimal Suklabaidya launched the country’s first e-Fish market.
  • He launched an application named ‘Fishwaale’, where products like fresh water fishes and seawater frozen fishes, dry fish, fish pickles and processed fish will be sold in this application.
  • This application eliminates the middleman and helps fish farming people to get`reasonable price for their products.
  • The application was developed by Aqua Blue Global Aquaculture Solutions pvt Ltd. In collobration with fisheries department.

RBI halted bond shopping under G-Sec

  • Reserve Bank of India has suspended bond buying under G-Sec Acquisition Programme (GSAP) for now, aimed to ensure adequate liquidity and stabilise financial markets.
  • The total liquiduity injected into the system for the first 6 months of the Financial year 2021-22 was Rs 2,37 lakh crore against Rs 3.1 lakh crore over the full financial year.
  • RBI was ready to undertake G-SAP as and when warranted by liquidity conditions and would conduct other liquidity management operations including Operation Twist (OT) and regular open market operations( OMOs).
  • RBI retained its growth forecast for this fiscal year at 9.5% and has cut its projection for average inflation for the complete year to 5.3% from 5.7%.
  • It also stated that Headline inflation continues to be influenced by very high inflation in select items like edible oils, petrol and disel, LPG and medicines.

About G-Sec:

  1. It is tradeable instrument issued by central government or state government.
  2. It acknowledges the Government’s debt obligation. Such securities are short term called treasury bills, with original maturities of less than one year, or long term called Government bonds or dated securities with original maturity of one year or more.
  3. In India, the Central Government issues both treasury bills and bonds or dated securities while the State Governments issue only bonds or dated securities, which are called the State Development Loans (SDLs).
  4. It carries no risk of default and is called risk free gilt-edged instruments.

GI tag for Kanniyakumari clove, Karuppur Kalamkari paintings, kallakurichi wood carvings

  • Clove grown in the hilly region of Kanniyakumari, which is rich in oil content has been given Geographical Indication GI tag.
  • The climate in the hilly region which recives both north-east and south-west monsoon, along with sea mist is ideal for clove cultivation.
  • The sea mist helps with eugenol acetate content in the clove, Kanniyakumari clove has 18% oil content and remaining 86% with eugenol content.
  • The traditional dye painted figurative and patterned cloth called Karuppur kamalkari paintings done in Ariyalur and wood carvings of Kallakurichi also has received GI tag.
  • Kalamkari paintings hav been evolved from the period of Nayaka rulers in 17th century.

The Central bank of India raises IMPS limit

  • The Reserve Bank has proposed to increase the per transaction limit through Immediate Payment Service(IMPS) from 2lakh to 5lakh.
  • This is done to promote digital transactions, IMPS is a payment system providng anytime instant domestic funds transfer facility which is accessible through Internet and Mobile banking.


Noble Peace prize for journalists

  • Journalists Maria Ressa of Philippines and Dmitry Muratov of Russia have won Noble Peace prize 2021.
  • Ms. Maria Ressa is the co founder of news website Rappler, which focussed critical attentiom on President Rodrigo Duterte’s controversial murderous anti drug campaign.
  • Ms. Ressa is the first woman in Philippines to win a Peace prize.
  • Mr. Muratov was one of the founders of Russian newspaer Novaya Gazeta, the Noble committee has mentioned it as the most independent news paper in Russia.


International Hockey Federation announced FIH star awards for Indian Hockey players

  • Six Indian Hockey players has won FIH star awards for 2021-22 given by International hockey federation.
  • The winners were decided on the basis of online poll conducted from Aug23 to Sep 15 which saw national associations.
  • Votes from national associations counted for 50 per cent of the overall result, while fans and players (25 per cent) as well as media (25 per cent), accounted for the other half.
  • Player of the year was banged by Harampreet Singh in men team and Gurjit Kaur in women team.
  • Goalkeeper of the year was banged by PR Sreejesh in men team and Savita Punia of women team, Rising star of the year was given to Vivek Sagar Prasad and Sharmila Devi of men and women team respectively.
  • The coaches were also given the FIH award, Graham Reid and Sjoerd Marijne won Coach of the Year award.


  • Oct 8 is observed as the World Post day.



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