Current Affairs for BANK, IBPS Exams - 23 July 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 23 July 2021


Approved the establishment of a Central University in Ladakh

  • The cabinet has approved the establishment of a Central University in the union territory of Ladakh, at a cost of ₹750 crore, Union Minister of Information and Broadcasting Anurag Thakur, July 22.
  • "This will address regional imbalances in higher education level and promote overall growth and development of the union territory," he said.
  • A central university will address regional imbalances in higher education level and stimulate intellectual current within the union territory, he added.
  • The cabinet has also approved an integrated multi-purpose Corporation in Ladakh. The corporation will help in infrastructure cooperation and will act as the main construction agency in the Union Territory, the minister said.

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G20 Minister of Environment and Energy talks in Naples

  • A meeting of the environment and energy ministers of the Group of 20 rich nations began Thursday in Naples hosted by Italy, the rotating president of the G20.
  • The ministers, along with representatives of relevant organizations, met at the historic Royal Palace of Naples to hold discussions and seek solutions on the issues of biodiversity loss and pollution, degradation of agricultural land, desertification, and unsustainable use of water and other natural resources.
  • Italy's Ecological Transition Minister Roberto Cingolani welcomed the ministers.
  • The summit is being held in unprecedented circumstances that require heartfelt, joint and urgent global action, he said in his opening speech.
  • Noting that it is impossible to ignore scientific reports on climate change indicators, he stressed that the tragic weather events the world has witnessed in recent months and days show the climate system is experiencing serious problems.
  • Cingolani said the same applies to ecosystems and biodiversity.
  • He said the COVID-19 pandemic is also disrupting societies and economies, noting they must fight together against these two tests, both the impact from the outbreak and the climate crisis.
  • Following him, the environment ministers of Saudi Arabia and Indonesia also gave speeches.
  • At the two-day summit, participants will evaluate international developments and discuss sustainable policies on nature conservation.


Cabinet approves Production Linked Incentive (PLI) scheme for specialty steel worth Rs 6,322 crore in five years

  • Union Cabinet approved the Production Linked Incentive (PLI) Scheme for specialty steel. The duration of the scheme will be five years, from 2023-24 to 2027-28.With a budgetary outlay of Rs 6322 crores, the scheme is expected to bring in investment of approximately Rs 40,000 crores and capacity addition of 25 MT for speciality steel. 
  • The scheme will give employment to about 5,25,000 people of which 68,000 will be direct employment. Speciality steel has been chosen as the target segment because out of the production of 102 million tonnes steel in India in 2020-21, only18 million tonnes value added steel/speciality steel was produced in the country.
  • Apart from this out of 6.7 million tonnes of imports in the same year, approx. 4 million tonnes import was of specialty steel alone resulting in FOREX outgo of Approx. 
  • Rs. 30,000 crores. It is expected that the speciality steel production will become 42 million tonnes by the end of 2026-27. 

Cabinet approves 100% FDI in PSU refiners to aid BPCL sales

  • The Union Cabinet on Thursday approved a proposal to allow 100 per cent foreign direct investment (FDI) in public sector refiners, expanding the scope for FDI in the privatisation of Bharat Petroleum Corporation Ltd (BPCL).
  • The approval by the Cabinet will enable the sale of the government’s 52.98 per cent stake in BPCL to a foreign buyer, and, at the same time, will open the door for FDI in other public sector companies in the oil sector put up for privatisation.
  • “FDI up to 100 per cent will be allowed under the automatic route in cases where a public sector undertaking has received in-principle approval for strategic divestment (in the oil and gas sector),” a government official told Business Standard.
  • The change will be implemented through an executive order, and will not need any legal amendment, the official said. Legal experts said the Department for Promotion of Industry and Internal Trade (DPIIT) would have to issue a press note in the form of an executive order.


IOC Task Force promises clean boxing event in Tokyo

  • In charge of rebuilding boxing's Olympic credibility after the judging fiasco in the 2016 Games, the IOC Task Force on Friday promised a clean competition at the mega-event here, warning the referees and judges that even "one injustice" would make the sport's future "dark".
  • International Olympic Committee (IOC) sports director Kit McConnell, chair of the Boxing Task Force (BTF) Watanabe Morinari and head of the BTF Lenny Abbey addressed the media on the eve of the boxing competition, which will feature 289 boxers from 81 countries, nine of them Indian.

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