DAILY CURRENT AFFAIRS 25-09-2021

Shankar School of Banking September 25 , 2021 172

NATIONAL

First in person ‘QUAD Summit’ leaders meet

  • Prime Minister Narendra Modi along with his counterparts from Australia, Japan attended the QUAD Summit 2021, This summit was hosted by U.S President Joe Biden.
  • The U.S president said “This meeting was aimed to group the four countries for global good and ensure peace and prosperity in the Indo-Pacific and the entire world” .
  • Prime minister Narendra Modi and U.S President Joe Biden held billateral talks in various  wide range of  priority issues like, combating Covid 19, Climate change, trade and Indo pacific.

About QUAD:

  1. The Quadrilateral Security Dialogue or QUAD is a stratergic dialogue between Australia, India, Japan and The U.S.
  2. This dialog came into force along with a joint millitary exercise called Malabar Exercise.
  3. First ever Quad Summit was held in Autralia, Manila and established on 2007.
  4. It is also dubbed as ‘Asian NATO

Ministry of Defence signed a deal with Airbus

  • Ministry of Defence signed a deal worth of Rs 22,000 crore with Airbus Defence and Space., Spain for fifty six C-295MW transport aircraft.
  • Tata Advanced Systems Limited(TASL) will be the frist private company to wholly manufacture a military aircraft in India, in partnership with Airbus under technology transfer by private sector.
  • Out of 56 aircraft, 16 will be directly delivered from spain within two years and remaining will be manufactured in India by Tata within 10 years from the date of contract.

About CASA C-295MW:

  1. CASA C-295 is a medium tactical transport aircraft with a crew capacity of 2, having a payload of 7,050 kg.
  2. It has a capacity of carrying tactical support upto 73 troops or 48 para troops for logistic operations which will be not accessible to the current heavier aircraft.
  3. It has an ability to carry anti ship missile, and has minimum take off run of 850m.

Union government notifies ’Medical device parks scheme’

  • Central government notified Medical device park scheme with an Financial outlay of Rs 400 crore till the financial year 2024-25.
  • It aims to ensure easy access to testing and infrastructure facilities and it will bring the cost of production of medical devices.
  • The financial assistance for medical device park will be 90% of the project cost of common infrastructure facilities for northeastern and hilly states.
  • For the remaining states it would be 70% project cost of common infrastructure facilities.
  • Centre has granted approval for the parks in Himachal Pradesh, Tamil Nadu, Madhya Pradesh`and Uttar Pradesh out of 16 states and union territories proposed.
  • Maximum assistance for one park under this scheme will be Rs 100 crore.

Anti-Dumping Duty to be levied for Ceftriaxone Sodium Sterile

  • The Commerce Ministry has recommended to impose anti dumping duty for Ceftriaxone Sodium Sterile, used as a pharma raw material.
  • This recommendation was given forward by Director General of Trade Remedies(DGTR) , mainly to protect domestic industry from Chinese players with a cheap dumping price of the active pharma ingredient.
  • Ceftriaxone is a active pharma ingrediemt used to treat  diseases such as lower respiratory infections, skin and prophylaxis.
  • The duty to be levied recommended by DGTR was $12.91 per kg, with decsion to levy is with the hands of Finance Ministry.

Anti-dumping duty: It is protective duty levied by a domestic government on foreign imports, which is priced below the fair market value and dumped inside the country. It is levied to protect the local economy and industries.

Three new species of climbing plants discovered in Western Ghats

  • A team from the Botanical Survey of India(BSI)  discovered three new species of climbing plants in the evergreen forests of southern Western Ghats in Kerala and Tamil Nadu.
  • The newly discovered plants comes under the family of lianas, also called climbing plants
  1. Hiptage Laxiflora
  2. Argyeria Lakshminarasimhanii
  3. Phanera murthyi.
  • Hiptage Laxiflora and Argyeria Lakshminarasimhanii were discovered from Kanyakumari wildlife sanctuary in Tamil Nadu and Phanera murthyi was discovered from Malabar Wildlife Sanctuary.

INTERNATIONAL

China announces all crypto transactions to be illegal

  • People’s bank of China (PBOC) announced all financial transactions involving crypto currencies to be illegal, It announced this move after its crackdown in volatile currencies.
  • This move was done to prevent money laundering, illegal fund rising, fraud, pyramid schemes and other illegal criminal activities happening due to bitcoin and other virtual currency transactions
  • It has also planned to introduce China’s own digital currency.

U.S approves 1$ billion for supply of Iron Dome

  • The U.S approved fund worth of $1billion to resupply Iron dome missile defence system from Israel.
  • The funding to procure the Iron dome was reduced during the pandemic, and now has planned to establish the resupply.

 

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