Current Affairs for BANK, IBPS Exams - 16 January 2021

::NATIONAL::

PM Modi to interact with Startups and address ‘Prarambh: Startup India International Summit’

Prime Minister NarendraModi will interact with startups and address ‘Prarambh: Startup India International Summit.
The Summit is being organized by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, on 15-16 January, 2021.
The two-day Summit is being organised as a follow up of the announcement made by the Prime Minister at the fourth BIMSTEC Summit held in Kathmandu in August 2018 wherein India committed to host the BIMSTEC Startup Conclave.
The Summit marks the fifth anniversary of the Startup India initiative, launched by the Prime Minister on 16 January, 2016.
With participation from over 25 countries and more than 200 global speakers, the Summit will be the largest startup confluence organised by the Government of India since the launch of the Startup India initiative.

51st International Film Festival of India to begin in Goa

The 51st edition of the International Film Festival of India (IFFI) is scheduled to open at 3PM on 16-01-2021.
All preparations are complete for IFFI. The opening ceremony will be held in the presence of Minister of Information and Broadcasting ShriPrakashJavadekar and Chief Minister of Goa Dr PramodSawant. IFFI is considered as a platform to project various dimensions of excellence in film art.
Like every year the city of Panaji is celebrating 51st edition of IFFI.All preparations are done for IFFI which is Asia's first international film festival.This year IFFI is being organised in hybrid manner because of Covid19 pandemic.Delegates will have an option to participate in physical as well as virtual mode. More than 200 films are lined up. Italian cinematographer Mr Vittorio Storaro will be honoured with lifetime achievement award.For this year Bangladesh will be the country of focus.

Printed Study Materials for IBPS, SBI Bank Exam

::International::

India has largest diaspora in the world: UN

The Indian diaspora, one of the most “vibrant and dynamic”, is the largest in the world, with 18 million people from the country living outside their homeland in 2020, the UN has said.
The United Arab Emirates, the US and Saudi Arabia host the largest numbers of migrants from India, it said.
“India has the largest transnational population in the world. It has the most migrants abroad -- 18 million, which is a significant number and another feature which is very interesting about the Indian migrant population is that they're really distributed all over the globe,” Population Affairs Officer in the Population Division at UN Department of Economic and Social Affairs (UN DESA) Clare Menozzi.
Other countries with a large diaspora included Mexico and Russia (11 million each), China (10 million) and Syria (8 million).
The report said India’s large diaspora is distributed across a number of major countries of destination, with the UAE (3.5 million), the US (2.7 million) and Saudi Arabia (2.5 million) hosting the largest numbers of migrants from India.
Other countries hosting large numbers of migrants from India included Australia, Canada, Kuwait, Oman, Pakistan, Qatar and the UK.

::Economy::

Open to examine proposal on bad banks: RBI governor Shaktikanta Das

Talking about the governance reforms Das said integrity and quality of governance are keys to good health and robustness of banks and non-banking financial companies (NBFCs).
If there is any proposal on bad banks, the Reserve Bank of India (RBI) will examine the proposal, RBI Governor Shaktikanta Das during 39th Palkhiwala Memorial lecture.
"Bad banks have been under discussion for a long time, we are open to looking up any proposal on bad banks. It is for the government to come up with such a proposal, and if any, we will examine the proposal," said Das while reply to a question.
Talking about the governance reforms Das said integrity and quality of governance are keys to good health and robustness of banks and non-banking financial companies (NBFCs).
"Recent events in our rapidly evolving financial landscape have led to increasing scrutiny of the role of promoters, major shareholders and senior management vis-a-vis the role of the Board. RBI is constantly focussed on strengthening the related regulations and deepening its supervision of financial entities.
He further stated that primary estimates suggested that potential recapitalisation of banks' requirements for meeting regulatory norms, as well as for supporting growth capital, maybe to the extent of 150 basis points of Common Equity Tier-I capital ratio, for the banking system.

Emerging markets need reserves as shock buffers, says RBI governor Das

India’s rupee was Asia’s worst performer last year, as the central bank countered relentless foreign investment inflows with dollar purchases.
Emerging markets need to build foreign-exchange reserves as buffers against external shocks even at the risk of being added to the U.S. Treasury Department’s watchlist for currency manipulation, Reserve Bank of India Governor Shaktikanta Das said.
India’s rupee was Asia’s worst performer last year, as the central bank countered relentless foreign investment inflows with dollar purchases that have pushed the country’s reserves to a record $586 billion. That’s catching up with Russia, which has the world’s fourth-largest stockpile.
In his speech the governor also stressed on the need to fast-track boosting capital buffers at Indian lenders and strengthens risk management systems.
RBI’s thrust is looking for “root causes of vulnerabilities rather than symptoms,” Das said during a memorial lecture on ‘Towards a stable financial system.’

::SCIENCE AND TECHNOLOGY::

Exploring Earth From Space: Tanezrouft Basin

The Copernicus Sentinel-2 mission takes us over the Tanezrouft Basin – one of the most desolate parts of the Sahara Desert.
Zoom in to see this image at its full 10 m resolution or click on the circles to learn more about the features in this image.
Tanezrouft is a region of the Sahara lying in southern Algeria and northern Mali. The hyperarid area is known for its soaring temperatures and scarce access to water and vegetation, a reason why it’s often referred to as the ‘Land of Terror’. There are no permanent residents that live here, only occasional Tuareg nomads.
The barren plain extends to the west of the Hoggarmountains and southeast of the sandy Erg Chech. The terrain shows evidence of water erosion that occurred many years ago, when the Sahara Desert’s climate was much wetter, as well as wind erosion caused by frequent sandstorms – exposing ancient folds in the Paleozoic rocks.
White lines in the right of the image are roads that lead to In Salah – the capital of the In Salah Province and In Salah District. Just above the center-left of the image, an airstrip can be seen. An interesting, grid-like pattern can be seen in the bottom of the image and mostly consists of human-made clearings and roads.
This image was captured on January 12, 2020, by the Copernicus Sentinel-2 mission – a two-satellite mission to supply the coverage and data delivery needed for Europe’s Copernicus programme.

::SPORTS::

Santosh back in India, out of induced coma

“CS Santosh was transferred by air ambulance from Riyadh to Bengaluru on Thursday without any issues,” Santosh’s team Hero MotoSports said in a statement on Friday after the 43rd Dakar Rally ended.
Indian rallyist CS Santosh, who had crashed out of the 2021 Dakar Rally in Saudi Arabia last week, is out of medically induced coma after being brought back to India.
“CS Santosh was transferred by air ambulance from Riyadh to Bengaluru on Thursday without any issues,” Santosh’s team Hero MotoSports said in a statement on Friday after the 43rd Dakar Rally ended.
“As per the latest information, he has been brought out of the induced coma successfully. He is now receiving the next stage of treatment and continues to be in CCU (Critical Care Unit) for observation.”