Current Affairs for BANK, IBPS Exams - 29 July 2021

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 29 July 2021


Parliament passes amendment bill to strengthen Juvenile Justice Act

  • Parliament has passed the Juvenile Justice (Care and Protection of Children) Amendment Bill 2021 with RajyaSabha approving it amid din.
  • The LokSabha has already passed the Bill. The Bill seeks to amend the Juvenile Justice (Care and Protection of Children) Act, 2015. The amendments include authorizing District Magistrate including Additional District Magistrate to issue adoption orders to ensure speedy disposal of cases and enhance accountability.
  • Defining eligibility parameters for appointment of Child Welfare Committee members and categorizing previously undefined offences as serious offences are some of the other aspects of the Bill.
  • Replying to the Bill, Women and Child Development Minister SmritiIrani said that children need support and justice and Child Welfare Committee needs to be strengthened. 
  • She said, protection of rights and need of the children is the priority of the Government. She said, the bill seeks to provide justice and support to the children.

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World Nature Conservation Day 

  • Human activities since the last century or so have had a devastating impact on natural vegetation and resource. 
  • The quest for rapid industrialization and cutting down of forest cover to make space for the ever-growing population brought climate change and other environmental implications. While awareness about environment conservation has grown in the past few years, we still have a long way to go before positive steps show their result.
  • World Natural Conservation Day is celebrated every year on July 28 to raise awareness about the importance of working for a healthy environment. The day aims at promoting best practices to protect our environment. 
  • Any big wave of change starts off with small individual contributions and here are things you could do as your bit for conserving natural resources
  • One of the biggest threats to the environment is the use of plastic. While the material is cheap and very convenient to usein real life, it comes with environmental implication. 
  • Plastics products are non-biodegradable and leave their trace in our surroundings. So, the first step towards working for environment conservation is to cut down the use of plastic products in your life. Use products made of degradable and natural components instead of plastic items.


Government to introduce Deposit Insurance Credit Guarantee Corporation Bill 2021 in Parliament session

  • The Union Cabinet  cleared changes to the deposit insurance laws to provide funds up to Rs 5 lakh to an account holder within 90 days in the event of a bank coming under the moratorium imposed by the RBI. 
  • Earlier, account holders had to wait for years till the liquidation or restructuring of a distressed lender to get their deposits that are insured against default.
  • The government has also permitted raising the deposit insurance premium by 20 per cent immediately, and maximum by 50 per cent. 
  • The premium is paid by banks to the DICGC. The Centre plans to introduce the Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill 2021 in the ongoing Monsoon session of Parliament.

RBI imposes a penalty of Rs 5 crore on Axis Bank for violation of certain provisions of directions issued by RBI

  • The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5 crore on Axis Bank for contravention of certain provisions of directions issued by the RBI, encompassing those on cyber security framework.
  • The directions include 'Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer', 'Cyber Security Framework in Banks', 'RBI (Financial Services provided by Banks) Directions, 2016', 'Financial Inclusion- Access to Banking Services - Basic Savings Bank Deposit Account' and 'Frauds - Classification and Reporting'.
  • "This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the Central Bank said in a statement.
  • He RBI had conducted statutory inspections for supervisory evaluation (ISE) of the bank with reference to its financial position as on 31 March 2017 (ISE 2017), 31 March 2018 (ISE 2018) and 31 March 2019 (ISE 2019).

::Science and tech::

Indian Air Force operationalizes 2nd Rafale Squadron at Hasimara, West Bengal

  • The Indian Air Force formally inducted the second squadron of Rafale aircraft at Air Force Station in West Bengal's Hasimara in Eastern Air Command (EAC) on Wednesday
  • IAF chief RKS Bhadauria presided over the induction ceremony which also witnessed a fly-past heralding the arrival of Rafale aircraft to Hasimara followed by a traditional water cannon salute.
  • Addressing IAF personnel during the induction ceremony, Chief of Air Staff RKS Bhadauria said that the induction of Rafale had been carefully planned at Hasimara, keeping in mind the importance of strengthening IAF's capability in the Eastern Sector.
  • The 101 Squadron is the second IAF squadron to be equipped with Rafale aircraft. The squadron was formed on May 1, 1949, at Palam and has operated Harvard, Spitfire, Vampire, Su-7 and MiG-21M aircraft in the past.


19-year-old ShehroozKashif from Pakistan becomes world's youngest mountaineer to climb K2 

  • A 19-year-old Pakistani has become the youngest person to reach the summit of K2, the world’s second-highest mountain, the Alpine Club of Pakistan says.
  • With Pakistan’s borders open and few other places to go due to the coronavirus pandemic, the country’s summer climbing season is attracting a large number of alpinists.
  • Known as “the savage mountain”, K2 has harsh conditions – winds can blow at more than 200 kilometres per hour (124 miles per hour) and temperatures can drop to minus 60C (minus 76 Fahrenheit).

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