Current Affairs for BANK, IBPS Exams - 24 August 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 24 August 2021


Manipur Chief Minister N. Biren Singh launches COVID-19 affected livelihood support scheme

  • Chief Minister N. Biren Singh launched the Chief Minister's COVID-19 Affected Livelihood Support Scheme to assist those who had been severely affected by the COVID-19 pandemic in the State.
  • Speaking at the event, the Chief Minister stated that the State Government had been working sincerely intending to uplift the poor and weaker sections of Manipur.
  • "The Government is for the people and is always ready to serve them," he said.
  • CM Singh further said that the scheme was introduced considering economic dislocations, which had seriously impaired the livelihood of a large percentage of the population leading to an incapability to manage a basic minimum standard of living.
  • It may be mentioned that the Chief Minister's COVID-19 Affected Livelihood Support Scheme aims to provide Rs 5,000 in two equal instalments (Rs. 2,500 per instalment) to every identified family whose livelihood has been severely affected by the pandemic.

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US FDA gives full approval to Pfizer-BioNtech COVID vaccine

  • Federal regulators on Monday granted full approval to the Pfizer-BioNTech coronavirus vaccine — a milestone that could help increase inoculation rates and spark a wave of vaccine mandates by employers and universities amid a surge of new cases and hospitalizations fueled by the ferocious delta variant.
  • The Food and Drug Administration action marks the first licensing of a vaccine for the coronavirus, which has swept the United States in repeated and punishing waves since early 2020, exhausting nursing staffs, filling intensive care units and raising fears among the vaccinated and the unvaccinated.
  • The vaccine is approved for two doses, three weeks apart, in people 16 and older. It remains available under emergency use authorization for adolescents ages 12 to 15.
  • “As the first FDA-approved covid-19 vaccine, the public can be very confident that this vaccine meets the high standards for safety, effectiveness and manufacturing quality the FDA requires of an approved product,” FDA acting commissioner Janet Woodcock said in a statement.


Paytm and HDFC Bank sign agreement for payment gateway solution

  • Fintech major Paytm and the country’s largest private bank HDFC Bank Ltd have entered into a strategic partnership for delivering financial solutions to end consumers and merchants across India.
  • The fusion of HDFC Bank’s network, products, and credit appraisal capabilities and Patym’s technological platform will accelerate digital transformation in semi urban and rural India, while bringing more people into formal banking channels, the two companies said.
  • The strategic partnership with the country’s largest private bank comes ahead of the proposed initial public offering (IPO) of Paytm, through which the company plans to raise ₹16,600 crore before the end of the calendar year.
  • The strategic partnership will see the two institutions launch innovative products across digital payments, lending and point of sale (POS) solutions.
  • Paytm and HDFC Bank will build comprehensive solutions across payment gateways, POS machines and credit products, including Paytm Postpaid, which is a Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay, the companies said.

::Science and tech::

IIT Madras develops first indigenous motorized wheelchair 'Neobolt'

  • Indian Institute of Technology Madras has developed India's first indigenous motorized wheelchair vehicle that can be used not only on roads but even on uneven terrains.
  • Called 'NeoBolt', it has a maximum speed of 25 kmph and travels up to 25 km per charge. It empowers wheelchair users with a convenient, safe and low-cost mode of outdoor mobility when compared to cars, auto rickshaws or modified scooters. NeoBolt is powered by a Lithium-Ion Battery that will give 25 Kms for every charge.
  • Throughout the development process, the IIT-M Researchers collaborated extensively with organizations and hospitals working among people with locomotor disability and built the products factoring in their experiences and making constant design adjustments.
  • NeoBolt was developed by a team led by Prof. SujathaSrinivasan, Department of Mechanical Engineering, IIT Madras, and has been commercialized through a startup called 'NeoMotion.' The Startup has been co-founded by Prof. SujathaSrinivasan and an IIT Madras Alumnus Mr. SwostikSourav Dash, who is the CEO of NeoMotion.
  • Prof. SujathaSrinivasan also led the team that developed India's first indigenously-designed Standing Wheelchair called 'Arise,' which enables a wheelchair user to shift from sitting to standing position.
  • Highlighting the vision behind developing these products, Prof. SujathaSrinivasan, Faculty Head, TTK Center for Rehabilitation Research and Device Development (R2D2), IIT Madras, said, "Our centre's vision is to transform the disability landscape in India by creating functional and affordable assistive devices. 
  • How often do you see a wheelchair user at a school, an office, a shop or a theatre? Wheelchair users are typically restricted to the four walls of their home, which affects their community participation and their ability to contribute to the economy."


Four Indians enter semifinals of Asian Youth boxing

  • Four Indian boxers entered the semifinals of the Asian Youth boxing championships being held in Dubai after a day of mixed results for the country.
  • The continental showpiece is being conducted simultaneously for the youth and junior boxers (both men and women) for the first time.
  • Seven Indians took the ring in the quarterfinals on Monday evening and four of them emerged victorious.
  • JaydeepRawat (71kg) defeated UAE's Mohammed Eissa in the most dominating show by an Indian, outclassing his rival in the second round.
  • Vanshaj (63.5kg) won 5-0 against Tajikistan's MakhkamovDovud, while Daksh Singh (67kg) defeated Kyrgyzstan's EldarTurdubaev 4-1.
  • Suresh Vishvanath (48kg) was up against against Kyrgyzstan's AmanturZholbborosv and prevailed 5-0.

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