Current Affairs for BANK, IBPS Exams - 07 July 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 07 July 2021


Indian Air Force to procure 10 anti-drone systems for deployment in border areas

  • After a drone attack at the Indian Air Force (IAF) station in Jammu, the force has decided to procure 10 anti-drone systems to stop such attacks in future in the border areas. The force has floated a Request for Information (RFI) for Indian vendors for Counter Unarmed Aircraft System (CUAS) that can be armed with laser directed energy weapons to bring down rogue drones.
  • On June 27, a drone attack was carried on the Jammu Air Force Station where two unmanned aerial vehicles were used to drop bombs. The National Investigation Agency has taken up the probe into the matter.
  • “It should provide a multi-sensor, multi-kill solution to enforce effective no fly zones for unmanned aircraft while inflicting minimal collateral damage to the surrounding environment. It should generate a composite air situational picture for the operator and generate alerts based on user defined parameters,” the RFI stated.
  • The Air Force stated that these anti-drone systems are required in mobile configuration mounted on indigenous vehicles with cross country capability and powered by indigenous Electrical Power Supply (EPS) system.

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Ethiopia begins refilling the disputed 'Grand Ethiopian Renaissance Dam' on the Nile, ignoring protests from Egypt and Sudan

  • Egypt said on Monday that it had been informed by Ethiopia of the start of the second phase of filling a mega dam on the Nile, a move denounced by Cairo and likely to raise tensions ahead of a UN Security Council meeting on Thursday.
  • The Egyptian Minister of Irrigation, Abdel Atti, informed by Addis Ababa of the start of the second phase of filling, said "firmly reject (this) unilateral measure," according to a statement from his ministry released late Monday.
  • The start of this second phase of the filling of the dam "represents a violation of international laws and norms that regulate construction projects on shared basins of international rivers.
  • Ethiopia's construction of the GERD up the Nile began in 2011. Downstream of the river, Egypt and Sudan are demanding an agreement with Addis Ababa on filling its reservoir.
  • Ethiopia, which said it had operated the first phase of filling in the summer of 2020, had recently announced that it would proceed with the second phase with or without an agreement. Ethiopia says the dam is vital to meet the energy needs of its 110 million people.
  • Sudan hopes the dam will regulate its annual flooding but fears adverse effects without an agreement. Egypt, which depends on the river for 97% of its water supply, sees it as a threat to its resources.


To strengthen the cooperative movement, the center created a new cooperative ministry

  • The Modi government announced new ‘Ministry of Cooperation’ for strengthening the cooperative movement in the country.
  • This new ministry will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country, the government said in a press note, adding that it will help deepen cooperatives as a "true people-based movement reaching up to the grassroots".
  • The ministry will work to streamline processes for ease of doing business’ for cooperatives and enable development of multi-state cooperatives (MSCS).
  • In the country, a cooperative-based economic development model is very relevant where each member works with a spirit of responsibility, the press release mentioned.

CII Organizes Virtually Indo Pacific Business Summit

  • Confederation of Indian Industry (CII) in partnership with Ministry of External Affairs (MEA), Government of India, is organizing “The Indo Pacific Business Summit” - Developing a Road Map for Shared Prosperity" from 6-8 July 2021 over a virtual platform.
  • The Summit would seek to identify current and future trade and investment opportunities within this region. The Summit will have participation of Government, Enterprises, Business Chambers, Think Tanks &  Experts from all the countries in the region. The Summit will also have a Virtual Business Exhibition.
  • The Summit would dwell upon various thematic and sectoral sessions for discussion like physical and digital connectivity, development of robust supply chains, start-ups, healthcare, skilling, climate change and blue economy basis the current and future trade and investments opportunities highlighted by the governments within this region.
  • Dr. S Jaishankar, Hon’ble Minister of External Affairs, Government of India has kindly agreed to be Chief Guest and deliver the Inaugural Address on 6 July 2021. MrPiyushGoyal, Hon’ble Minister of Railways, Commerce and Industry, Consumer Affairs, Food and Public Distribution, Government of India has agreed to deliver the Keynote Address at the  Special Plenary with the Trade Ministers in the Region.


Red Bull's Max Verstappen wins the Formula One Austrian Grand Prix in Spielberg, Austria

  • Red Bull's Max Verstappen reeled off his third win in a row from pole in the Austrian Grand Prix to consolidate his world championship lead over Lewis Hamilton who came in fourth.
  • Hamilton's Mercedes teammate ValtteriBottas took second with McLaren's Lando Norris in third.
  • Verstappen's latest step towards ending Hamilton's hold on the drivers' title triggered a carnival atmosphere in Formula One's first capacity crowd since the coronavirus pandemic struck with most of the 100,000 in attendance decked out in his Dutch orange colours.

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