Current Affairs for BANK, IBPS Exams - 28 August 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 28 August 2021


Union Agriculture Minister Narendra Singh Tomar chaired the 11th meeting of Agriculture Ministers of BRICS countries

  • Union Minister for Agriculture & Farmers Welfare ShriNarendra Singh Tomar  chaired the 11th Meeting of BRICS (Brazil, Russia, India, China, South Africa) Agriculture Ministers. The Ministers of Agriculture from Brazil, Russia, China and South Africa deliberated virtually on the theme “BRICS Partnership for Strengthening Agro Biodiversity for Food and Nutrition Security”. BRICS brings together the major emerging economies of the world, hosting 41% of the world population, contributing 24% of the world GDP and over 16% share in world trade.
  • In his opening remarks, ShriTomar said that the BRICS countries are well-positioned to take a leading role in helping to achieve the objectives of the 2030 Sustainable Development Goals to eradicate hunger and poverty. By increasing agricultural production and increasing the income of farmers, the problem of income inequality and food price volatility can be overcome.
  • The Agriculture Minister highlighted the efforts made by India in preserving the agro-biodiversity by establishing and maintaining the National Gene banks for plants, animals, fish, insects and agriculturally important microorganisms at different respective Bureaus. India is actively promoting the diversification of its agri-food systems through countrywide programs such as pulses, oilseeds, horticultural crops, National Bamboo Mission and the recently launched National Palm Oil Mission. The objective of these programs is to increase the income of the farmers along with providing diversification in both farm and plate.
  • ShriTomar said that on the initiative and proposal of India, the United Nations has declared the year 2023 as the International Year of Millets and preparations are being made to celebrate the International Year of Millets at the global level. ShriTomar informed that India is focusing on capacity building in research, teaching, policy-making, trade and farming of nutritious cereals, which will benefit the farmers while conserving the amazing diversity available in this group of crops. ShriTomar informed that the BRICS Agricultural Research Platform has been created to promote cooperation in agricultural research and innovations and its implementation has been started.

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United Nations Universal Postal Union (UPU) banned British stamps in Chagos Islands

  • The Universal Postal Union (UPU), a UN agency in charge of the world's postal policies, voted to block the use of UK stamps from the remote archipelago.
  • All post from the Chagos Islands must now bear stamps from Mauritius.
  • The UK says it will not cede control until the islands are no longer needed for security purposes.
  • The US currently uses the largest of the islands - Diego Garcia - for a military air base on what the UK describes as the British Indian Ocean Territory (BIOT).
  • Three powerful UN bodies have already ruled that the archipelago, which has a population of about 3,000, is part of Britain's old empire and should be handed to Mauritius immediately.
  • A set of pretty postal stamps showing sea slugs and angel fish might not seem like the sharp end of international diplomacy, the BBC's Africa correspondent Andrew Harding says.
  • But he adds that the near unanimous vote by the UPU to make those stamps illegal worldwide, is a blow to Britain, and another sign of its growing isolation over its claim to the Chagos Islands.


Forex reserves declined by $2.47 billion to $616.895 billion

  • The foreign exchange reserves of India declined by $2.47 billion to end at $616.895 billion in the week ended August 20, 2021, showed data with Reserve Bank of India (RBI).
  • The previous week ended August 13, 2021, saw the forex reserves fall by $2.099 billion to $619.365 billion, as per RBI data. The reserves had touched a lifetime high of $621.464 billion in the week ended August 6, 2021.
  • During the reporting week, the drop in forex reserves was on account of a decline in the foreign currency assets (FCAs), a major component of the overall reserves, weekly data by the central bank revealed. FCAs declined by $3.365 billion to $573.009 billion in the week under review.
  • Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
  • Gold reserves increased by $913 million to $37.249 billion in the reporting week, RBI data showed.
  • The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $3 million to $1.541 billion.


Indian Grandmaster S.P. Sethuraman wins Barcelona Open chess tournament

  • In Chess, Indian Grandmaster S P Sethuraman won the 2021 Barcelona Open chess tournament title, remaining unbeaten through the nine rounds, winning six matches and drawing three.
  • Chennai-born Sethuraman collected 7.5 points after ninth and final round to tie the score with DaniilYuffa of Russia.
  • However the Indian player emerged as the winner on the basis of a better tie-break score.
  • India’s KarthikeyanMurali finished third.

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