Current Affairs for BANK, IBPS Exams - 16 July 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 16 July 2021


PM inaugurates and dedicates PRASHAD (Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive) projects in Varanasi 

  • Prime Minister NarendraModi inaugurated various development projects in Varanasi which include Tourist Facilitation Centre under the Project “Development of Varanasi Under PRASHAD Scheme – Phase II” and operation of Cruise Boat from AssiGhat to RajGhat under the Project “Development of River Cruise in Varanasi under PRASHAD Scheme”.
  • On January 31 tourism department’s new two-tier cruise vessel reached Varanasi after leaving Goa shipyard on November 2, 2020 crossing through Kanyakumari, Kolkata and Haldia. The IWAI gifted the Ro-Ro vessels to Kashi. Each vessel has 200-seating capacity. This service is purely for tourism purpose.
  • The ‘National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive’ (PRASHAD) is a Central Sector Scheme fully financed by the Government of India launched by the Ministry of Tourism in the year 2014-15 with the objective of integrated development of identified pilgrimage and heritage destinations.
  • The scheme aimed at infrastructure development such as entry points (Road, Rail and Water Transport), last mile connectivity, basic tourism facilities like Information/ Interpretation Centers, ATM/ Money exchange, eco-friendly modes of transport, area Lighting and illumination with renewable sources of energy, parking, drinking water, toilets, cloak room, waiting rooms, first aid centers.

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EU sets Uyghur and Hong Kong conditions for investment agreement

  • The members of the European Parliament have underlined the conditions to be met before the legislature gives its consent to the EU-China Comprehensive Agreement on Investment (CAI). The conditions have been listed in a draft report prepared by foreign affairs committee of the European Parliament, which calls for using the CAI as a leverage instrument to improve the protection of human rights and support for civil society in China.
  • The pre-ratification commitments listed in the report include a timetable for China's ratification and implementation of key labour laws and concrete measures towards putting an end to human rights violations against the Uyghur minority in the country. It also demands a recommitment by China to uphold its international commitments to Hong Kong.
  • The members also called for dialogues on human rights to be held regularly and a solid benchmarking of the progress made in bilateral talks. They also demanded opening of a channel to talk to China on possible ways to ensure better global preparedness to respond to pandemics.
  • The European Parliament members also sought China's cooperation in an independent investigation into the origins of the coronavirus disease (Covid-19).
  • Talking about the trade frictions, the European leaders demanded lifting the counter-sanctions imposed by the Chinese government on EU entities and individuals, who Beijing accused of "severely harming its sovereignty and interests and maliciously spreading lies and disinformation". 


Center releases Rs 75,000 crore as GST compensation to states

  • The government on Thursday said it has released Rs 75,000 crore to the states and Union Territories to compensate them for the shortfall in GST revenue.
  • The GST Council in its meeting on May 28 had decided that the central government would borrow Rs 1.59 lakh crore and release it to the states and UTs with the legislature on a back-to-back basis to meet the resource gap due to the short release of compensation on account of inadequate amount in the compensation fund.
  • "Ministry of Finance has released today Rs 75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. This release is in addition to normal GST compensation being released every 2 months out of actual cess collection," the ministry said in a statement.

India's trade trade deficit stood at US $ 30.75 billion in April-June

  • The country's exports rose by 48.34 per cent to USD 32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to USD 41.87 billion, leaving a trade deficit of USD 9.37 billion as against a trade surplus of USD 0.79 billion in the same month last year.
  • During April-June 2021, the exports increased by 85.88 per cent to USD 95.39 billion. Imports expanded to USD 126.15 billion during the first three months of the fiscal as against USD 60.44 billion in the same period last year, the data showed.
  • Trade deficit during the quarter was aggregated at USD 30.75 billion as against USD 9.12 billion during April-June 2020.
  • During April-June 2021, the imports stood at USD 31 billion as against USD 13.08 billion during the same quarter previous fiscal.

::Science and tech::

The number of forms to be filled for seeking authorization to operate drones will be reduced from 25 to six

  • The Ministry of Civil Aviation has issued draft rules to ensure ease of using drones in India on the basis of "trust, self-certification and non-intrusive monitoring", an official statement said today.
  • The number of forms to be filled to operate drones in the country have been reduced to six in draft Drone Rules, 2021' in comparison to 25 forms mentioned in the Unmanned Aircraft System (UAS) Rules, 2021, it said.
  • The Unmanned Aircraft System Rules, 2021 came into force on March 12 this year. The Drone Rules, 2021, once notified, will supersede the UAS Rules, 2021.
  • The fee, in the draft rules, has been reduced to nominal levels and de-linked from the size of the drone, the statement said.
  • The draft rules have also abolished the requirement of various approvals, including certificate of conformance, certificate of maintenance, import clearance, acceptance of existing drones, operator permit, authorisation of R&D organisation and student remote pilot licence, it said.
  • No flight permission will be required up to 400 feet in green zones and up to 200 feet in the area between 8 and 12 km from the airport perimeter, the draft rules stated.


Tokyo Olympics 2020: Thomas Bach warns athletes against 'political demonstrations' on podiums

  • The IOC this month relaxed its Rule 50, which had previously forbidden athletes from any protests but now allows them to make gestures on the field, provided they do so without disruption and with respect for fellow competitors.
  • Athletes should not make "political demonstrations" or express their private views on the medal podium at the Tokyo Games, the International Olympic Committee (IOC) President Thomas Bach.
  • While athlete protests at the Olympics are rare, at the 1968 Mexico City Games, Black U.S. sprinters Tommie Smith and John Carlos were expelled after they bowed their heads and raised black-gloved fists on the podium to protest racial inequality.

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