Current Affairs for BANK, IBPS Exams - 16 March 2021

::NATIONAL::

RajyaSabha passed a bill to declare 2 food technology institutes as national

The Bill makes the National Institute of Food Technology Entrepreneurship and Management, Kundli, and the Indian Institute of Food Processing Technology, Thanjavur, national institutes. Several members of Parliament such as Vishambhar Prasad Nishad applauded the decision and requested that more such institutions be established.
While addressing the members' doubts on the implementation of the reservation policy in these institutions, Agriculture Minister Narendra Singh Tomar said it will apply to these institutions.
He also assured that people working in food technology will have representation in these institutes.
“This Bill was introduced in the RajyaSabha in February 2019. Thereafter it was referred to the Standing Committee. There were certain amendments there that were approved by the Cabinet. Now it again came for discussion in the House," he said.
Tomar also said that most members have submitted proposals and expressed their satisfaction with the Bill. He said India is facing tremendous challenges in food storage, cold chain and processing. Therefore, it is important to introduce a technology to avoid wastage of farm produce.
The law will also create jobs and turn farmers into entrepreneurs. So far, 444 lakh jobs have been created under the Kisan SAMPADA Yojana, and 147 lakh farmers have benefited from this scheme, the minister said.
He said such institutes should also be given the freedom to make decisions and collaborate with other world-class institutions which will make them at par with the IIMs and IITs.

The National Institute of Pharmaceutical Education and Research Bill was introduced in the LokSabha

The National Institute of Pharmaceutical Education and Research (Amendment) Bill 2021 was introduced in the LokSabha today.
Chemical and Fertilizer Minister D.V. SadanandaGawda introduced the Bill which amends the National Institute of Pharmaceutical Education and Research Act 1998.
The legislation seeks to grant status of institutes of national importance to existing six National Pharmaceutical Institutes located in Ahmedabad, Guwahati, Hajipur, Hyderabad, Kolkata and Raebareli.
This also aims to empower the Central government to establish a Council for these institutes and rationalise their Board of Governors for better administration.

Printed Study Materials for IBPS, SBI Bank Exam

::International::

63rd Annual Grammy Awards presented in Los Angeles

China’s new rule on visa facilitation of no help for Indians

China today remained evasive on the utility and genuineness of its so-called “facilitating measures” for visa to foreigners in countries which are not using Chinese vaccines.
The Chinese Embassy in New Delhi said on Tuesday, it will start issuing visas to foreigners who need to travel to China but only if they have taken a Chinese-made Covid-19 vaccine. The rule, however, will not make it any easier for Indians to get visas since New Delhi has not approved use of China-made vaccines in the country.
The Chinese embassy statement did not specify if Beijing is in talks with New Delhi to make its vaccines available in India. China also does not recognize other COVID-19 vaccines. Chinese foreign ministry spokesman Zhao Lijian reporters on Monday that foreign vaccine producers could file a request with the relevant Chinese authorities for a decision to consider them for international travel. He said on Tuesday that China is making its own facilitation arrangements for those who have inoculated with China’s vaccines.
China said the new rule is a meaningful attempt to facilitate cross border travel after massive inoculation, but this raised more practical questions and its utility rather than facilitation, because people in many countries cannot access Chinese jabs due to regulatory issues. It is also not clear whether the new rule applies to students - the largest chunk of Indians – more than 20,000 students who are waiting for China’s nod for more than a year to return to their universities.

::Economy::

Wholesale price index-based inflation (WPI) rose to 4.17% in February

The wholesale inflation across the country rose to 4.17 per cent in February, according to the data released by the Ministry of Commerce & Industry.
The wholesale price index (WPI) grew 2.03 per cent during the month of January, while the WPI for December 2020 was revised to 1.95 per cent from 1.22 per cent, the data showed. The WPI in February 2020 was at 2.26 per cent.
After remaining soft for months, the food articles segment witnessed a 1.36 per cent rise in February. In the previous month, this was (-)2.8 per cent.
Vegetable prices contracted (-) 2.90 per cent in February, against (-) 20.82 per cent in January, the data showed. Pulses prices grew 10.25 per cent last month, while that of fruits rose 9.48 per cent.
The fuel and power segment rose 0.58 per cent in February with LPG prices inching by 0.51 per cent and petrol gaining by 0.83 per cent.
According to separate data released by the government on Friday, the retail inflation or consumer price index (CPI) rose 5.03 per cent in February.

::SCIENCE AND TECH::

US India Artificial Intelligence (USIAI) Initiative launched

Secretary, Department of Science & Technology, Prof Ashutosh Sharma, emphasised the necessity to scale up the S&T relationship between India and the United States to solve problems of both countries and overcome barriers for growth at the launch of the Indo-U.S. Science and Technology Forum’s U.S. India Artificial Intelligence (USIAI) Initiative.
“Indo-US relationship in the field of S&T is very old collaborations have resulted in great benefits for both the countries. We need to further scale it up in various fields, and Artificial Intelligence (AI) can play a major role in the future. We have identified the barriers for growth in India that could be useful for the United States too,” Professor Sharma pointed out at the curtain raiser of the launch ceremony organized by Indo-U.S. Science and Technology Forum (IUSSTF) on March 17, 2021.
Speaking online at the launch of the initiative of IUSSTF, a bilateral organization funded by the Department of Science & Technology (DST), Governments of India, and the U.S. Department of States, he also said that research, technology in artificial intelligence is being promoted and implemented in the country through a network of 25 technology hubs working as a triple helix set up under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). He also pointed out the recent policies to liberalise India’s geospatial policies.
IUSSTF’s USIAI Initiative focuses on AI cooperation in critical areas that are priorities for both countries. USIAI will serve as a platform to discuss opportunities, challenges, and barriers for bilateral AI R&D collaboration, enable AI innovation, help share ideas for developing an AI workforce, and recommend modes and mechanisms for catalyzing partnerships.
Jonathan Margolis, Acting Deputy Assistant Secretary, U.S. Bureau of Oceans & International Environmental & Scientific Affairs, U.S. Department of State, said on the occasion that collaboration between India and United States is based on shared values of openness, transparency, and reciprocity and encourages innovation that will benefit both countries. “The US-India strategic partnership can be strengthened by focusing on AI cooperation in critical areas that are priorities for both countries,” he added.
“Two large democracies of the world can do wonders by creating synergies and collaboration, and the time is right to launch such initiative. We are looking forward for more research and high-impact collaboration to boost both the economies, create jobs, and bring prosperity,” Dr. Sethuraman “Panch” Panchanathan, Director, National Science Foundation (NSF), pointed out.

::Sports::

IND vs ENG Third T20: India hope to continue winning streak

India will look forward to continue its winning spree as they face England in the third T20 match at the NarendraModi Stadium in Ahmedabad.
Powered by a fearless half-century on debut by IshanKishan India made a roaring comeback in the second T20 and defeated England by seven wickets to level the series.
However, India need to iron out some issues at the top of the order as KL Rahul failed to fire in both games so far. Rahul who scored one run in two matches, may get replaced by vice-captain Rohit Sharma at the top of the batting order.