Current Affairs for BANK, IBPS Exams - 30 January 2021

::NATIONAL::

Hope to launch Covavax by June 2021, says Serum Institute's Adar Poonawalla

Novavax released initial results from the trial, which enrolled 15,000 people aged 18 to 84, in the United Kingdom and said that it showed the vaccine to be 89.3% effective in preventing Covid-19.
Serum Institute of India's (SII's) chief executive officer Adar Poonawalla said on Saturday his company is hopeful of launching Covovax, a vaccine against the coronavirus disease (Covid-19) which has been developed in partnership with Novavax, by June this year. Poonawalla also said SII has applied to start domestic trials of Covovax, which was found to be 89.3% effective in a UK trial.
"Our partnership for a COVID-19 vaccine with @Novavax has also published excellent efficacy results. We have also applied to start trials in India. Hope to launch #COVOVAX by June 2021!" Adar Poonawalla tweeted this afternoon," Poonawalla tweeted.
It also protected against the potent South Africa variant but at a lower rate, the company added. Novavax's UK trial is expected to be used to apply for use in Britain, the European Union and other countries.

Expanding children, parent definition will leave no scope for ambiguity: Panel

The standing committee evaluated the Maintenance and Welfare of Parents and Senior Citizens (Amendment) Bill, 2019.
The bill aims to expand the definition of children to include son-in-law, daughter-in-law, biological or adoptive or step son and daughter, minors through legal guardian, parent to include father-in-law, mother-in-law and grandparents, whether or not a senior citizen and relatives to include minor through legal guardian.
The standing committee evaluated the Maintenance and Welfare of Parents and Senior Citizens (Amendment) Bill, 2019.
"The committee deem it to be a significant measure as maintenance may now be claimed from all admissible relatives/legal heirs of parents and senior citizens. Further, the above change in the definition of 'children' has also been concomitantly reflected in the definition of 'parent' in the Amendment Bill," it said.
The Social Justice and Empowerment Ministry told the committee that the expansion of the existing definition will enable parents/senior citizens to claim maintenance allowance from all admissible relatives.

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::International::

Mahatma Gandhi statue vandalised in US, India condemns 'malicious' act

The 6-ft tall, 650-pound (294 kg) bronze statue of Gandhi, which was located in the Central Park, was a gift to the country by the government of India.
The Indian government condemned the vandalising of a bronze statue of Mahatma Gandhi in the City of Davis in Northern California, the second such incident in the US in a little over a month. The embassy of India in Washington DC has taken up the matter with the US Department of State, it said.
The six-feet tall, 650-pound (294 kg) bronze statue of Gandhi, which was located in the Central Park, was a gift to the country by the government of India.
"Embassy of India in Washington DC has taken up the matter with the US Department of State for a thorough investigation and appropriate action. Consulate General of India in San Francisco has separately taken up the matter with City of Davis and local law enforcement authorities," it added.
In an incident reported on December 12, a little over a month, a group of pro-Khalistan activists had desecrated Mahatma Gandhi’s statue at the Mahatma Gandhi Memorial Plaza in front of the Indian embassy in Washington and placed a poster and a Khalistan flag on it.

::Economy::

India plans to introduce legislation to ban cryptocurrencies

The proposed law will provide a framework for the creation of an official digital currency to be issued by the Reserve Bank of India and allow certain exceptions to promote blockchain, the underlying technology of cryptocurrency and its uses.
India plans to introduce a bill seeking to prohibit all private cryptocurrencies in the country during the budget session of parliament that began Friday.
The proposed law will provide a framework for the creation of an official digital currency to be issued by the Reserve Bank of India and allow certain exceptions to promote blockchain, the underlying technology of cryptocurrency and its uses, according to a bulletin of the lower house of parliament.
The central bank is looking into the need for a digital version of the fiat currency and how to implement it.
India’s monetary policy regulator had in 2018 banned crypto transactions after a string of frauds in the months following Prime Minister Narendra Modi’s sudden decision to ban 80% of the nation’s currency. Cryptocurrency exchanges responded with a lawsuit in the Supreme Court in September and won respite in March 2020.

Economic Survey pegs FY22 GDP growth at 11%

The thread running through the Survey — a sharp economic revival — comes at a time when the Indian economy is expected to contract by 7.7% in 2020-21.
The Economic Survey 2021-22 projected a growth of 11% for the Indian economy, a V-shaped recovery in growth, on the back of the Covid-19 vaccination drive and a recovery in consumption, even as it emphasised the importance of the government continuing to increase its spending and called for an asset quality review across Indian banks.
The survey, which sets the economic context for the Union Budget — to be presented on Monday — also sought an increase in public health spending to 2.5-3% of GDP (the budget is expected to boost public health spending in the wake of the Covid-19 pandemic, which highlighted gaps in India’s health infrastructure).
It also said it expects inflation, a concern right now, to moderate in coming months, creating the context for the central bank to cut rates. The Survey estimated a nominal GDP growth of 15.4% in 2021-22.

::Science and tech::

With great detail, scientists map heart recovery rate after heart attack

Emphasising the importance of heart muscle cells intracellular communication, researchers from the Hubrecht Institute mapped the recovery of the heart after a heart attack with great detail.
The study published in Communications Biology shows that the heart muscle cells also called cardiomyocytes play an important role in intracellular communication after a heart attack.
The researchers documented their findings in a database that is accessible for scientists around the world. This brings the research field a step closer to the development of therapies for improved recovery after heart injury.
As per the reports, during a heart attack, the blood supply to a part of the heart is blocked, for example, due to a blood clot in a coronary artery. Attempts to restore the blood supply are made as soon as possible, also known as reperfusion.
However, a part of the heart has already been without oxygen for some time. Depending on the size and duration of the infarction, this causes heart muscle cells also called cardiomyocytes, to die.
Especially the role of cardiomyocytes in the recovery following a heart attack was still largely unknown, partly because of technical difficulties. However, another recent paper from Van Rooij's lab solved these obstacles, allowing the researchers to specifically study the function of cardiomyocytes in the recovery process.

::SPORTS::

Australian Open to be allowed 30,000 fans a day

"It'll mean that over the 14 days, we will have up to 390,000 people here at Melbourne Park and that's about 50% of the average over the last three years," he told reporters at the venue for the tournament.
The Australian Open will be allowed to admit up to 30,000 fans a day, around 50% of the usual attendance, when the Grand Slam gets underway on Feb. 8, Victoria state sports minister Martin Pakula.
The limit will be reduced to 25,000 over the last five days of the tournament when there are fewer matches, but Pakula said the announcement would ensure some of the biggest crowds for a sporting event since the beginning of the COVID-19 pandemic.
"It'll mean that over the 14 days, we will have up to 390,000 people here at Melbourne Park and that's about 50% of the average over the last three years," he told reporters at the venue for the tournament.
"It will not be the same as the last few years but it will be the most significant international event with crowds that the world has seen in many, many months."