Current Affair 2021| Get daily and latest Current Affairs 2021| 8 December

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Current Affair 2021| 8 December

1. India-Maldives joint military exercise EKUVERIN in the Maldives

The 11th edition of Exercise EKUVERIN-21 between India and Maldives was held at Kadadhoo Island, Maldives. Ekuverin means "friend" in the Dhivehi language. It is an Indo-Aryan language. It is spoken in India, Lakshadweep and Maldives. The exercise enhances synergy and interoperability between the armed forces of the two countries both on land and at sea in terms of understanding international terrorism, conducting counter-terrorism and counter-terrorism operations and sharing best military practices and experiences.

Apart from rigorous training, the joint military exercise will also include cultural and sports activities to enhance defence cooperation and bilateral ties. The exercise will go a long way in cementing India's ties with the Maldives amid emerging security dynamics in the Indian Ocean region. The exercise is being conducted between India and Maldives since 2008. In 2019, the exercise was conducted in Pune, Maharashtra and in 2018 in the Maldives.

Benefits of exercise

  • The exercise helps armies to understand each other's practices and procedures.
  • It helps to overcome language barriers.
  • It helps in introducing weapons which are essential in disaster relief such as war or humanitarian aid. It is also essential in disaster relief operations.

2. Paytm partners with AWS to offer startup toolkit for entrepreneurs

Paytm, a leading digital ecosystem for consumers and merchants has partnered with Amazon Web Services (AWS) to offer the Paytm Startup Toolkit with exclusive payment services for early-stage Indian startups. Paytm will help entrepreneurs grow their businesses with payment, distribution and development solutions that are operating at AWS Activate in India.

About Paytm Startup Toolkit:

Paytm Startup Toolkit is a single-stop platform that provides solutions in the areas of payments, payments, banking and delivery with services including Paytm Payment Gateway, which helps businesses to accept digital payments on their website, app; Paytm Payouts, which helps companies streamline their payments to employees, vendors, distributors and channel partners; and Paytm Payments Bank which includes nodal banking, which provides truly digital banking.

Advantages of the Toolkit:

To help startups increase brand visibility and grow their customer base, the Paytm Startup Toolkit also provides access to Paytm Mini Apps, which enable developers to set up low-cost, quick-to-build mini-apps. Builds that can be built using open source technologies. Like HTML and Javascript.

The Mini App Store allows developers to seamlessly integrate with Paytm identity and payment services, and Paytm Ads, which provides flexible and cost-effective advertising solutions for brands where they can choose their target audiences and similar The looks can also find the segments that best suit them. their campaign.

Important facts for all competitive exams:

  • Paytm Established: August 2010;
  • Paytm Headquarters: Noida, Uttar Pradesh, India;
  • Paytm CEO: Vijay Shekhar Sharma.

3. RBI Monetary Policy: Repo rate unchanged for 9th time in a row

Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) chaired by Reserve Bank of India (RBI) Governor Shaktikanta Das kept the repo rate unchanged for the ninth time in a row at 4 per cent, while maintaining an 'accommodative stance'. Important. The reverse repo rate will remain at 3.35 per cent. The central bank last revised the policy rate on May 22, 2020, in an off-policy cycle to meet demand by cutting interest rates historically. The meeting took place between December (6 to 8). The rest will be in February (7 to 9, 2022).

Some important tools of monetary policy

There are many direct and indirect instruments in the monetary policy of RBI which are used to implement monetary policy. Some of the important instruments of monetary policy are as follows:

Repo Rate: It is the (fixed) interest rate at which banks can borrow overnight liquidity against the collateral of government and other approved securities under the Liquidity Adjustment Facility (LAF) from the Reserve Bank of India.

Reverse Repo Rate: It is the (fixed) interest rate at which the Reserve Bank of India can absorb liquidity from banks on an overnight basis against the collateral of eligible government securities under the LAF.

Liquidity Adjustment Facility (LAF): Under this LAF, there are overnight as well as term repo auctions. Repo term helps in the development of the inter-bank term money market. This market sets the standard for the pricing of loans and deposits. It helps in improving the transmission of monetary policy. As per the evolving market conditions, the Reserve Bank of India also conducts Variable Interest Rate Reverse Repo auctions.

Marginal Standing Facility (MSF): MSF is a provision that enables scheduled commercial banks to borrow additional amounts overnight from the Reserve Bank of India. The bank can do this by dipping in its Statutory Liquidity Ratio (SLR) portfolio up to a limit at a penal rate of interest. This helps the banks to survive the unexpected liquidity shocks faced by them.

Important facts for all competitive exams:

  • 25th Governor of RBI: Shaktikanta Das
  • Headquarters: Mumbai
  • Founded: 1 April 1935, Kolkata.

4. PNB launches "PNB Pride-CRMD Module" app for employees with disabilities

Punjab National Bank (PNB) launched the PNB Pride-CRMD module tool, an Android-based application for differently-abled employees to monitor and effectively follow up on Special Mention Account (SMA) borrowers. The Pride-CRMD module has built-in TalkBack software that allows the visually impaired to access the system independently and interact with customers by tapping on their phones.

Importance of the App

Punjab National Bank laid emphasis on harnessing the capabilities and skills of disabled employees in the concept of PNB Yoddha and implementation of PNB Pride.

Purpose of the App

The app aims to promote the rights and welfare of persons with disabilities, adding that the platform opens up new avenues of opportunities for 'PNB Warriors' with visual or any other physical impairment, helping them to make a valuable and tangible contribution Is. ,

The device will be compatible with iOS very soon. SMA accounts are stressed loans that are recognized early, which enable banks to initiate remedial action in time and prevent such borrowers from turning into non-performing assets (NPAs).

Important facts for all competitive exams

  • Establishment of Punjab National Bank: 1894;
  • Punjab National Bank Headquarters: New Delhi;
  • MD & CEO of Punjab National Bank: S.S. Mallikarjuna Rao;
  • Punjab National Bank Tagline: The Name You Can Bank Upon.

5. Union Minister S Jaishankar addresses 5th Indian Ocean Conference

Union Minister of External Affairs (EAM) Subrahmanyam Jaishankar has visited Abu Dhabi, United Arab Emirates (UAE) to attend the 5th Indian Ocean Summit on December 4-5, 2021. The theme of the conference was 'Indian Ocean: Ecology, Economy'. Epidemic'. The conference is presided over by the President of Sri Lanka, Gotabaya Rajapaksa, and Vice Presidents S Jaishankar, Vivian Balakrishnan, Sayyid Badr bin Hamad bin Hamad Al Busaidi.

Who organized this conference?

The conference is being organized by India Foundation in association with RSIS Singapore, Institute of National Security Studies (INSS), Sri Lanka and Emirates Center for Strategic Studies and Research (ECSSR), UAE.

Some of the important points discussed at the conference

This year the conference is tackling the challenges facing the Indian Ocean due to pandemics, economic fallout and the effects of climate change.

Addressing the program, Dr S. Jaishankar highlighted the growing power of China in this area.

EAM also met his counterparts from UAE and Oman and discussed bilateral cooperation with them ahead of the start of the international summit.

6. Vice President releases book 'The Midway Battle: Modi's Roller-Coaster Second Term'

Vice President (VP) M. Venkaiah Naidu launched a book titled 'The Midway Battle: Modi's Roller-Coaster Second Term' authored by Gautam Chintamani and published by Bloomsbury India at the Vice President's residence, New Delhi. The political scenario of India has been mentioned in the book. This marks the second term of the current Prime Minister Narendra Modi. The Midway Battle highlighted various laws like the Jammu and Kashmir Reorganization Act, Triple Talaq, Citizenship (Amendment) Act as well as agricultural laws.

7. India's first female psychiatrist Sharda Menon passes away

India's first female psychiatrist and the longest-serving head of the Institute of Mental Health Padma Bhushan Dr Mamballaikalathil Sharda Menon has passed away. He was born in Mangaluru, Karnataka in a Malayali family. He was awarded the Padma Bhushan in 1992 for social work.

Some facts about Dr Sharda Menon

  • Dr M Sarada Menon began his career as a psychiatrist in 1959 at the Institute of Mental Health (then known as Government Mental Hospital) at Kilpauk, Chennai.
  • She became the first female superintendent of the Institute of Mental Health in 1961.
  • She founded the Schizophrenia Research Foundation (SCARF India) in 1984 with psychiatrist R Thara.
  • She also founded ASHA, a community-based platform that supports families of people affected by mental illnesses.

8. Lewis Hamilton Saudi Arabia GP. won the inaugural edition of

Mercedes driver Lewis Hamilton (UK) beat Max Verstappen (Netherlands) in the inaugural edition of the Saudi Arabian Grand Prix (Netherlands) to win the 30-kilometre (18.6 mi) coastal resort area in Jeddah, Saudi Arabia. , Reema Jafali has been appointed as an ambassador for the first edition of the Saudi Grand Prix under the Formula 1 (F1) World Championship.

About Reema Jafali

Reema Jafali is the first female F1 driver from Saudi Arabia. He is a 29-year-old driver who has competed in the British Formula 3 Championship 2021. She is the first racer to take a lap on the street circuit in Jeddah and also participates in the Williams team car display, which dates back to 1979. Which is sponsored by Saudi Airlines.

9. GRSE Launches First Large Survey Vessel Sandhyak for Indian Navy

Indian shipbuilder Garden Reach Shipbuilders and Engineers (GRSE) has achieved a new milestone with the launch of the first large survey vessel for the Indian Navy. Called Sandhyak, the vessel is the first in a series of four ships being built under the Survey Vessel Large (SVL) project. It is built in GRSE.

Indian State Defense Minister Ajay Bhatt, who was present at the launch ceremony, said that the launch of the ship is a new milestone for the country's vision of 'New India' by 2030. In October 2018, the Indian Ministry of Defense and GRSE signed the contract. To build four survey ships. Featuring over 80% indigenous material on a cost-effective basis, the ships are completely designed by GRSE and are being built using 'integrated construction' concepts.

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