Current Affairs for BANK, IBPS Exams - 21 July 2021

::NATIONAL::

The government has decided to set up the ‘Indian Institute of Heritage’ at Noida, Gautam Buddha Nagar. This will impact higher education and research in the field related to rich Indian heritage and its conservation leading to Masters and Ph.D courses in History of Arts, Conservation, Museology, Archival Studies, Archaeology, Preventive Conservation, Epigraphy and Numismatics, Manuscriptology etc. as well as conservation training facilities to in-service employees and the students of the Indian Institute of Heritage.
The Institute is being set up as Deemed to be University by integrating Institute of Archaeology (Pt. DeendayalUpadhyaya Institute of Archaeology), School of Archival Studies under National Archives of India, New Delhi, the National Research Laboratory for Conservation of Cultural Property (NRLC), Lucknow, National Museum Institute of History of Art, Conservation and Museology (NMICHM) and Academic Wing of Indira Gandhi National Centre for the Arts (IGNCA), New Delhi. These shall become various schools of Institute.
Indian Institute of Heritage will be a world-class university that would focus on the conservation and research in India’s rich tangible heritage, while offering research, development and dissemination of knowledge, excellence in the education of its students and activities associated with heritage that contribute to the cultural, scientific and economic life of India. This would be a standalone Institution of its type in the country.

The world's first high-speed maglev transportation system running at a speed of 600 kilometers per hour will make its public debut in Qingdao, East China's Shandong Province.
As the fastest ground vehicle available so far, the system, self-developed by China, is a cutting-edge scientific and technological achievement in the field of rail transit in the world, said China Railway Rolling Stock Corporation (CRRC) Qingdao Sifang Co., LTD., an industrialization base for manufacturing high-speed trains in China.
The high speed maglev train will be suspended, driven and guided without contact between the train and the track by means of electromagnetic force, with its resistance onlycoming from the air, said Liang Jianying, deputy general manager and chief engineer of CRRC Sifang.
As a new mode of high-speed traffic, the train is safe, reliable and has low noise pollution, small vibration, large passenger capacity and needs less maintenance, he said, saying that it can fill the speed gap between high-speed rail, whose maximum operating speed is 350 km/h, and aircraft, whose cruising speed is 800 to 900 km/h.
The maglev train is the fastest mode of transportation within the 1,500 km range in terms of actual travel time. A journey from Beijing to Shanghai takes about 2 hours by air, 5.5 hours by high-speed rail, and will only be about 2.5 hours by high-speed maglev train, taking journey preparation time into consideration.

Life Insurance Corporation of India on July 19 introduced LIC's ArogyaRakshak policy, a non-linked, non-participating, regular premium, individual health insurance plan.
This plan provides fixed benefit health insurance cover against certain specified risks and provides timely support in case of medical emergencies and helps the insured and his family to remain financially independent in difficult times.
An individual can insure themself (as Principal Insured), their spouse, all children and arents under one policy. The plan is available for Principal Insured (PI), spouse, parents aged 18 years to 65 years and children of age 91 days to 20 years. The cover period available for PI, spouse and parents up to age 80 years and for children up to 25 years.

Flexible benefit limit to choose from
Flexible premium payment options
Financial protection in case of hospitalisation, surgery etc.
Lumpsum benefit irrespective of actual medical costs
Inreasing health cover by way Auto Step Up benefit and No Claim benefit
If more than one members are covered under a policy, premium waiver for other insured in case of unfortunate death of the original PI i.e the policyholder at the inception of policy
Premium waiver benefit for one year in the event of any insured undergoing surgery falling under Category I or Category II for certain major surgical benefits
Ambulance benefit
Note that optimal riders are available under the plan. LIC's New Term Assurance Rider and LIC's Accident Benefit Riders are available as optional riders under this plan.

Goldman Sachs said it's new office here will hire over 2,000 employees by 2023. The company today announced the opening of its new office here as part of its commitment to expand its global centre for engineering and business innovation and in India.
"In adherence to local government guidelines, Hyderabad operations commenced remotely in March 2021 and currently have about 250 employees...By the end of 2021 it is expected that the Hyderabad office will grow to 800 employees of which about 70 per cent employees will be new hires. By 2023 the size of Hyderabad office could reach as many as 2,500 employees," it said.

A new generation of Akash surface-to-air missile was successfully flight-tested by the DRDO from an integrated test range off the Odisha coast in a boost to India's air defence capabilities.
The Defence Ministry said the missile was test-fired at around 12:45 PM from a land-based platform and that the "flawless performance" of its weapons system was confirmed by the complete flight data.
"Once deployed, the Akash-NG weapon system will prove to be a force multiplier for the air defence capability of the Indian Air Force," the Defence Ministry said in a statement.
Defence Minister Rajnath Singh congratulated the DRDO, the Indian Air Force and production agencies Bharat Electronics Limited (BEL) and Bharat Dynamics Limited (BDL) for the successful test-firing of the missile.
Separately, the Defence Research and Development Organisation (DRDO) also successfully flight-tested an indigenously developed low weight man-portable anti-tank guided missile, paving the way for its production for the Army.

The Session of the International Olympic Committee (IOC) approved a change in the Olympic motto that recognises the unifying power of sport and the importance of solidarity. The change adds the word “together” after a dash to “Faster, Higher, Stronger”. The new Olympic motto now reads: “Faster, Higher, Stronger – Together”.
The IOC members unanimously approved the update and amended the Olympic Charter.
In his remarks before the vote, IOC President Bach explained the link between the change and the original motto: “Solidarity fuels our mission to make the world a better place through sport. We can only go faster, we can only aim higher, we can only become stronger by standing together — in solidarity.”