Current Affairs for BANK, IBPS Exams - 05 August 2021

::NATIONAL::

The Union Cabinet on Wednesday approved the Memorandum of Understanding (MoU) between the Indian Institute of Space science and Technology (IIST) and The Delft University of Technology (TU Delft), for carrying out the Academic programmes and Research activities involving students and faculty members in each institution signed on April 09, 2021, and May 17, 2021, at respective institutes and exchanged by email.
According to the MoU, the parties may exchange students at undergraduate, postgraduate and doctoral levels under the student exchange programme. "The Parties will mutually discuss and decide the areas of studies and credits to be pursued under the scheme.
Both parties agree the Practicum exchange programme for degree training should follow the educational system and regulations of the hosting partner," the press release, stated.
As per the press release, the benefit of signing this agreement is that it will enable pursuing the potential interest areas of cooperation such as exchange of faculty members, students and researchers, scientific materials, publications and information. Joint research meeting, PhD program, Dual Degree/Double Degree programme.

About two-thirds of Australia’s population is in lockdown as the delta variant spreads across the nation, with authorities in Melbourne enforcing stay-at-home orders for the sixth time since the pandemic began.
Melbourne and the rest of Victoria state will enter a seven-day lockdown from 8 p.m. local time on Thursday, Premier Daniel Andrews told reporters. The nation’s second-largest city last year endured one of the world’s longest and strictest lockdowns, and only emerged from its most recent one on July 28. Sydney, meanwhile, has issued stay-at-home orders until at least August 28.
“The advice to me from the experts if we were to wait even just a few days, there is every chance that instead of being locked down for a week, this gets away from us and we are potentially locked down until we all get vaccinated,” Andrews said.
The lockdowns show the limits of Australia’s so-called “Covid-zero” strategy, which has relied on closed international borders and rigorous testing to eliminate community transmission of the virus. Its economy, particularly the domestic tourism and retail sectors, is increasingly being hit by the outbreaks.

The RajyaSabha on Wednesday passed the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill amid opposition uproar, with Finance Minister NirmalaSitharaman saying the proposed legislation will help small depositors, including those of the stressed PMC Bank. The bill was passed after a short debate.
The Bill proposes that even if a bank is temporarily unable to fulfil its obligations due to restrictions such as moratorium, depositors can access their deposits to the extent of the deposit insurance cover through interim payments by the Deposit Insurance and Credit Guarantee Corporation (DICGC). For this, the Bill seeks to insert a new Section in the DICGC Act, 1961.
Replying to a brief debate, Sitharaman said the legislation would provide relief to small bank depositors. She said the proposed legislation will also help depositors of 23 cooperative banks which are under stress. "PMC Bank depositors will also benefit from this bill," she said.

The RajyaSabha on Wednesday passed the Limited Liability Partnership (Amendment) Bill, which seeks to encourage the start-up ecosystem and further boost ease of doing business, amid uproar by the opposition on Pegasus snooping row and other issues.
The bill, which was passed after a short debate, seeks to decriminalise 12 offences under the law and help to improve the ease of doing business by amending the Limited Liability Partnership (LLP) Act, 2008.
Finance Minister NirmalaSitharaman moved the bill for consideration and passage. The bill was introduced in the House last week.
While some MPs, including Ram Nath Thakur, KanakmadelaRavindra Kumar, M Thambidurai, and Sujeet Kumar, spoke on the bill, several opposition members were raising slogans against the government in the Well of the House.

India’s first indigenously designed and built aircraft carrier began its sea trials off the coast of Kochi on Wednesday, propelling India into a select group of countries to achieve the capability to build its own aircraft carriers.
Describing it as a “proud and historic day for India", the Indian Navy in a statement said, “Reincarnated Vikrant (IAC) sailed for her maiden sea trials today (Wednesday), in the 50th year of her illustrious predecessor’s key role in victory in the 1971 war." The reference was to third war between India and Pakistan that led to the emergence of Bangladesh as an independent country.
According to the Navy, the Indigenous Aircraft Carrier (IAC) is the “largest and most complex warship ever to be designed and built in India." The achievement, it said, was key for India’s “quest for Atmanirbhar Bharat and Make in India initiatives".
The keel of the 40,000-tonne warship was laid in February 2009. The ship has been built by the Cochin Shipyard Limited (CSL). The basin trials were completed in November 2020. The project cost is estimated at almost ₹23,000 crore.

India's LovlinaBorgohain on Wednesday went down in the semi-final of the women's welterweight (64-69kg) category to Turkey's BusenazSurmeneli to settle for a bronze medal. This is India's third medal of the ongoing Tokyo Olympics.
Looking to script history by becoming the first-ever boxer from the country to enter an Olympic final, the pugilist from Assam was no match in front of the reigning world champion of the division, as she lost all three rounds with unanimous decision from the five judges going in favour of the Turkish boxer.