Current Affairs for BANK, IBPS Exams - 27 January 2021

::NATIONAL::

Farmers' tractor rally violence: Dark day for the Republic

A deadly charge of tractors at ITO, clashes with police at Red Fort: Rampage in the Capital as farm rally descends into unprecedented chaos, disorder and violence
This is how it ends, not in order, but chaos, not peacefully, but violently; and not as a concerted display of farmer power, but a descent into chaos best exemplified by images of tractors being driven at high speed, in circles, at ITO in the centre of the national capital, threatening to run over anyone in the way.
This was not how it was supposed to be. The 62-day-long farm protest, seen by many as a fight of the small man against the State, was expected to reach a climax of sorts with a tractor rally through three designated routes in Delhi. Farm unions that hammered out a compromise with Delhi Police that made this possible, promised a display of pageantry that would rival the morning’s Republic Day parade.

Nagaland Governor puts NSCN in line of fire in Republic Day speech

Nagaland Governor RN Ravi on Tuesday put the Isak-Muivah faction of National Socialist Council of Nagaland (NSCN-IM) in his line of fire saying the Centre’s initiative to resolve the Naga political issue was yet to bear fruit due to “unrealistic intransigence of some people” who are unwilling to forsake the politics by gun.
In his Republic Day address at the Civil Secretariat Plaza in Kohima, Ravi who is also the central government’s interlocutor for Naga peace talks said people of the state have been unable to reap optimum benefit because some extra constitutional entities in the guise of espousing the Naga national cause have queered the pitch for the people and the government, keeping peace and progress at bay.
Without naming the NSCN-IM, Ravi said, “The latest initiative since the last 24 years could not fructify as yet due to unrealistic intransigence of some people who are unwilling to forsake the politics by gun.”
The governor’s remark comes against the backdrop of an impasse in the negotiations on the Naga political issue between the Centre and the NSCN-IM over the latter’s demand for a separate Naga flag and constitution.
“The unrealistic, self-destructive and divisive politics has exhausted the people of Nagaland. The primary stakeholders have made their positions abundantly clear that the era of gun must end without further delay and enduring peace must be restored.

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::International::

Bangladesh-India ties special, new frontiers of cooperation opening between the two countries: PM Sheikh Hasina

Prime Minister Sheikh Hasina of Bangladesh has extended her greetings on the occasion of the 72 Republic Day of India.
Terming the relationship between the two countries as special, Prime Minister Sheikh Hasina in her letter addressed to Prime Minister Narendra Modi said that new frontiers of bilateral cooperation alongside traditional areas of engagement are being opened even during the difficult times created by the pandemic.
She further said that the two governments are working closely to take the bilateral relations to a newer height through celebration of the birth centenary of Bangabandhu Sheikh Mujibur Rahman, 50 years of Bangladesh's independence as well as that of the diplomatic relations between the two countries.
The 72nd Republic Day was celebrated at Dhaka in Bangladesh on Tuesday. High Commissioner of India to Bangladesh Vikram Doraiswami hoisted the flag in the chancery premises. After the flag hoisting ceremony, the High Commissioner read out parts of the President’s address to the nation delivered on the eve of Republic Day.
Members of the Indian Community in Dhaka participated in the event. High Commissioner Vikram Doraiswami interacted with the Indian community members who had gathered to celebrate the Republic Day.
Interacting with the media on the occasion, High Commissioner Vikram Doraiswami said that India believes that both India and Bangladesh must progress together. That is why it provided the COVID 19 vaccine doses as gift as well as the commercial supply between the two countries to take place so quickly.

::Economy::

Adani Ports to raise $500mn through bonds

Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced a $500 million bond sale, its second such offering in the last few months, as the Adani group flagship seeks to capitalise on benign interest rates overseas.
The proceeds of the bond sale would be used to finance early redemption of dollar bonds of a similar amount maturing next year. The bonds have a 10-year maturity. Barclays, Bank of America and Citibank are advising the company on the bond sale.
“...the committee has approved the (i) preliminary offering circular in relation to a proposed issuance of fixed rate senior unsecured notes by the company and (ii) the tender offer memorandum in relation to its proposed tender offer to purchase, for cash, any and all of its outstanding $500 million 3.95% senior notes due 2022,” APSEZ said in a regulatory filing. The bonds have been rated BBB- by rating agency Fitch.
Billionaire Gautam Adani-led group has been the most active Indian issuer in the dollar bond market in the last few years, raising billions of dollars in foreign debt across businesses ranging from ports, renewables and energy transmission and distribution. In December, the group’s container terminal business raised $300 million through an overseas bond issuance.

India’s economy to shrink by 8% in FY’21, says IMF

India’s September quarter GDP estimate, at -7.5% after -23.9% in the June quarter, positively surprised analysts.
The International Monetary Fund (IMF) on Tuesday upgraded its gross domestic product (GDP) projection for India to a contraction of 8% in FY21 from an earlier estimate of minus 10.3%, saying there are encouraging signs of economic recovery in high frequency indicators.
In an update to the World Economic Outlook (WEO) released in October, IMF said third-quarter GDP outturns mostly surprised on the upside in Australia, euro area, India, Japan, Korea, New Zealand, Turkey, and the US.
India’s September quarter GDP estimate, at -7.5% after -23.9% in the June quarter, positively surprised analysts. The Indian economy is officially projected to contract by a record 7.7% in FY21 for the first time in 41 years with the National Statistical Organisation assuming 0.6% growth in the second half (October-March) of FY21.
The Reserve Bank of India last month projected the Indian economy to shrink 7.5% in FY21, shallower than the 9.5% contraction it projected just two months ago, on the back of a host of lead indicators.

::Science and tech::

CSIR-CMERI unveils ‘Aqua Rejuvenation Plant’ which facilitates an Organic Farming Model through treated Waste Water

CSIR-Central Mechanical Engineering Research Institute, Durgapur unveiled the first-ever Waste Water Treatment Technology Model which purifies Waste Water for Irrigation/Farming purposes.
Prof. (Dr.) Harish Hirani, Director, CSIR-CMERI inaugurated the ‘Aqua Rejuv’ along with Subhendu Basu, Additional District Magistrate (Zila Parishad), Paschim Bardhaman on Saturday. During his inaugural speech, Prof. Hirani expressed that he wanted the solution for the society from Carbon Dioxide, frequent chocking of the drainage system and the discharge of sewage water through the application of basic sciences. He also referred to different studies where it has been outlined that the COVID virus has the potential to survive up to 34 days in the sewage water.
Keeping in mind these societal aspects he envisioned for this technology following the norms of the National Green Tribunal which is the statutory body for handling the expeditious disposal of the cases pertaining to environmental issues in our country.
Aqua Rejuvenation Plant (ARP) is an Integrated Waste Water Rejuvenation Model which has six-stage purification profile for comprehensive treatment of Waste Water, based upon diverse purification parameters. The approx. 24,000 litres of water that can be rejuvenated using ARP will be sufficient for almost 4 acres of Agricultural Land (barring seasonal variations in water requirements).
The used filtration media have been specially developed to handle Indian Sewage Water Parameters and based upon Geographical Variations they may be modified. The filter media is also locally source-able, so as to ensure that there would not be any stress in the Supply Chain for scaled-up Manufacturing of ARP. The treated water which is now being used for irrigation can be used even for drinking purpose also when little more time is given for settling. The system has a dual benefit as while the treated water is being used for irrigation purpose, the filtered sludge generated is also utilized as manure/fertilizer.

::SPORTS::

FIFA sets late-2021 target to pick 2026 World Cup cities

The 23 candidate cities likely need to be cut to 16. FIFA said it could confirm them at the end of the year.
The pre-pandemic schedule called for cities hosting the first 48-team World Cup — likely 10 in the United States and three each in Canada and Mexico — to be picked early this year. The new deadline will depend on FIFA officials being able to take inspection trips to 17 cities in the United States and three each in Canada and Mexico.
Most of the venues in the United States will be NFL stadiums, with the home of the New York Giants and New York Jets expected to host the final on July 12, 2026.