Current Affairs for BANK, IBPS Exams - 02 October 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 02 October 2021


Air Marshal Sandeep Singh took charge as the new Vice Chief of the Indian Air Force.

  • He succeeded Air Chief Marshal VR Chaudhari, who became the 27th Chief of the Air Staff.
  • An alumnus of the National Defence Academy, Air Marshal Singh was commissioned in the flying branch of the IAF in December 1983, as a fighter pilot.
  • The officer is an experimental test pilot and a qualified flying instructor. He has rich and diverse experience in operational and experimental test flying on various types of fighter aircraft.
  • He has a flying experience of 4,400 hours.
  • In his nearly 38 years of service in the IAF, the Air Marshal has held numerous important command and staff appointments.
  • Air Marshal Singh has commanded the Aircraft and Systems Testing Establishment, a frontline airbase and an operational fighter squadron.

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India's pavilion launched at Dubai Expo 2020

  • On two separate floors, the pavilion showcases India’s emerging sectors, achievements of ministries, while the Gujarat government completely occupies the state pavilion.
  • As you enter the India pavilion at the Dubai Expo 2020, you can see miniature models of the Ram Mandir to be built at Ayodhya and the under-construction Hindu temple in Abu Dhabi, the first such in the city.
  • On two separate floors, the pavilion showcases India’s emerging sectors, achievements of ministries, while the Gujarat government completely occupies the state pavilion. One floor is devoted to India’s art, dance, and culture with gigantic LCD screens displaying the country’s cultural heritage. In the industry pavilion, only a handful companies are participating to connect with new customers and explore new business opportunities. 
  • “It is a great opportunity to showcase emerging new India to visitors who are coming from all over the world. Prime Minister NarendraModi personally gave us ideas and a lot of guidance on how to showcase India as a modern vibrant technology driven international economy," trade ministerPiyushGoyal, who inaugurated the India pavilion on Friday, told reporters.
  • With the world learning to live with covid and its variants, more than 190 countries are participating at the Dubai Expo 2020, which will run for six months from 1 October to 31 March 2022. Though delayed by a year because of the pandemic, the Expo gives a sense of business-as-usual with pavilions open for businesses and general audience, though with strict covid safety protocols.
  • The UAE has allowed India to build a permanent pavilion over 40,000 sq. ft, a privilege given to a handful friendly countries. 
  • So will it be a PragatiMaidan in the heart of Dubai? “Yes, somewhat like that. PragatiMaidan is also getting a makeover, It will be one of the finest convention centres anywhere in the world," Goyal said. 

Piramal Enterprises Limited (PEL) has acquired bankrupt Dewan Housing Finance Corporation Limited (DHFL) for ₹14,700 crore

  • The creditors of DHFL (including FD holders) would recover an aggregate amount of approximately Rs 38,000 crore from the resolution process of DHFL.
  • The Piramal Group has concluded the acquisition of Dewan Housing Finance Corporation (DHFL) under the Insolvency and Bankruptcy Code (IBC). This is the first successful resolution under the IBC route in the financial services sector. In value terms, the transaction is among the largest resolutions till date. 
  • In January 2021, 94% of the Creditors of DHFL voted in favor of Piramal's resolution plan. Approvals were also obtained from the RBI, CCI and NCLT for the completion of this transaction. As a part of the process, Piramal Capital and Housing Finance (PCHFL) will merge with DHFL. The merged entity will be 100% owned by Piramal Enterprises. 
  • The creditors of DHFL (including FD holders) would recover an aggregate amount of approximately Rs 38,000 crore from the resolution process of DHFL. This amount comprises of approximately Rs 34,250 crore to be paid by PCHFL as a combination of cash and non-convertible debentures and an amount of approximately Rs 3,800 crore, which is the entitlement of creditors (as per the resolution plan), from the cash balance available with DHFL. 
  • The merged entity combines Piramal's financial strength, core values and institutional credibility with DHFL's geographic footprint and distribution network of 301 branches and 2,338 employees catering to approximately 1 million lifetime customers across 24 states - making it one of the leading housing finance companies in the country. 
  • It creates an India-wide platform focused on the affordable segment (with average loan ticket size of nearly Rs 17 lakhs) to address the diverse financing needs of the under-served and unserved 'Bharat' market - that represents Indian budget conscious customers at the periphery of metros and in Tier I, II and III cities. 

PM launches Swachh Bharat Mission-Urban 2.0 and AMRUT 2.0

  • Prime Minister NarendraModi on Friday launched the Swachh Bharat Mission-Urban (SBM-U) 2.0 and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 at DrAmbedkar International Centre, New Delhi.
  • In his speech, the prime minister said that the goal of ‘Swachh Bharat Mission-Urban 2.0’ is to ensure ‘Garbage-Free’ cities. While the next phase of Mission AMRUT will focus on ‘increasing sewage and septic management, making cities water safe’ and ensuring that no sewage drains in rivers.
  • PM Modi lauded children and youth for being mindful of maintaining cleanliness.
  • “I am happy to note that our generation has taken the initiative to strengthen the cleanliness campaign. Toffee wrappers are no longer thrown on the ground but kept in pockets. Today, children remind elders not to spread litter,” he said.
  • The prime minister said that India is processing about one lakh tonnes of waste every day which was less than 20 percent when the campaign started in 2014.
  • As per the statement from the Prime Minister’s Office, “In line with the vision of the Prime Minister, SBM-U 2.0 and AMRUT 2.0 have been designed to realize the aspiration to make all our cities ‘Garbage Free’ and ‘Water Secure’. These flagship Missions signify a step forward in our march towards effectively addressing the challenges of rapidly urbanizing India and will also help contribute towards the achievement of the Sustainable Development Goals 2030”
  • According to the press release, SBM-U and AMRUT have contributed significantly to improve the urban landscape during the last seven years. The government said that the two flagship Missions have augmented the capacity to deliver basic services of water supply and sanitation to the citizens.

::Science and tech::

Amazon India launches its Global Computer Science Education Program

  • Amazon is extending its computer science program, Future Engineer, to India, making the world’s second-largest internet market the fifth market where the firm offers the childhood-to-career community program.
  • The company said at a virtual conference on Tuesday that it will offer several educational materials, scholarships, internships and mentors to teach computer science courses — and the areas it encompasses such as robotics, artificial intelligence and machine learning — to students in India and also provide resources for teachers.
  • Through Future Engineer, the company partners with players such as to bring CS education opportunities to underserved and underrepresented children and young adults. Amazon said the program is primarily focused on students in grades six to 12.
  • “While a million students enroll in CS engineering courses annually in India, students from underserved and underrepresented communities contribute relatively small numbers. There are several reasons — low exposure to CS-related career opportunities, lack of inspirational role models in their community, and language barriers to access interesting curriculum formats. Also, government schools have limited resources to impart CS education,” the company said.
  • Amazon expects Future Engineer — which in India it said has been contextualized for the Indian teacher and student community and is being made available in several regional languages — to over 100,000 students in the country in more than 900 government schools across seven states within a year.
  • “We aim to bring the CS curriculum closer to these students in the languages of their comfort and choice, empower them with right skills and tools to be able to expand their career outlook. We hope students emerge more confident and skilled to be responsible creators of technology solutions and build a better future for themselves, and communities around them.”
  • The American e-commerce giant, which has invested more than $6.5 billion in India so far, has been exploring the education space in the country for a few years. Two years ago, it launched JEE Ready, an app aimed at helping students who are preparing for entry into India’s prestigious technology institutes. JEE Ready, which has since been rebranded as Amazon Academy, offers free online classes and analyzes students’ performance in mock tests.


India women's team played its first pink ball test

  • Australia and England played the first-ever pink-ball Test in women’s cricket between November 9 and November 12, 2017, at the North Sydney Oval. Though the match ended in a draw, it garnered a lot of attention from fans, former cricketers, and experts across the board.
  • There were three players, namely, Amanda-Jade Wellington, Beth Mooney, and Tahlia McGrath making their debut for Australia, while England had Fran Wilson and Sophie Ecclestone playing their first Test match.
  • Winning the toss and electing to bat first, England were all out for 280 in 116 overs. Opening bat Tammy Beaumont top-scored with 70 and found an able ally in skipper Heather Knight who chipped in with 62. Apart from Beaumont and Knight, there were no major contributions with the bat from England in the first innings. While Australia with the ball were brilliant as all the five bowlers used were able to pick up wickets. Ellyse Perry was the pick of the bowlers as she scalped 3-59 in 21 overs.

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