Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 7 October 2021, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc. Our gkseries team also provides Daily Current Affairs Quiz for these exams.
Daily Current Affairs 7 October 2021
Shakti Sinha, former bureaucrat, and academician who was private secretary to late prime minister Atal Bihari Vajpayee, passed away. He was 64.
According to sources, Sinha was suffering from high blood pressure and was rushed to RK Hospital in IP Extension when he complained of uneasiness. He collapsed at the hospital, the source said.
Sinha, an IAS officer of the 1979 batch, was also former Director of Nehru Memorial Museum and Library (NMML). He worked closely with Vajpayee between 1996 and 1999 and had written a memoir titled Vajpayee: The Years That Changed India.
The Consumer Electronics and Appliances Manufacturers Association (CEAMA) said Eric Braganza has been appointed as its president for a two-year term. Braganza, who heads Haier Appliances India, succeeds Godrej Appliances Business Head and Executive Vice-President Kamal Nandi for the CEAMA chair. Braganza, an alumnus of Sri Ram College of Commerce, Delhi, has over 35 years and has held senior management positions in the consumer electronics and appliances industry in various companies.
About the CEAMA:
Established in 1978, CEAMA represents the consumer electronics and home appliances industry and aims to enhance the development of the industry and its components manufacturing.
Professor Eric A. Hanushek and Dr Rukmini Banerji have been awarded the 2021 Yidan Prize for Education Development for improving learning outcomes in schools at scale. They will join nine laureates who have been awarded the Yidan Prize since its inception in 2016, established by the Yidan Prize Foundation – a global philanthropic education foundation that inspires progress and change in education. Yidan Prize is the world’s highest education accolade, in recognition of their ground-breaking work addressing a crucial piece of the education puzzle: improving quality of education and outcomes for learners at scale.
The Yidan Prize was founded by Charles Chen Yidan in 2016 to create a better world through education. Yidan Prize Laureate receives a gold medal and a sum of $3.9 million.
Vice President Venkaiah Naidu, on Sunday, inaugurated the Mahabahu Brahmaputra River Heritage Centre at Panbazar in Guwahati, Assam. The centre was originally served as the residence of the British deputy commissioner of Kamrup. Nearly 150 years after it was constructed, the iconic DC Bungalow of Guwahati was opened to the public as a heritage centre.
The new heritage centre in Guwahati is now home to antique articles showcasing Assam’s “rich heritage”.
The globe marks World Cotton Day on October 7th every year since 2019. The international day aims to celebrate the advantages of cotton, ranging from its qualities as a natural fibre to the benefits people obtain from its production, transformation, trade, and consumption. WCD Day was initiated by the Group of Cotton-4 countries namely Benin, Burkina Faso, Chad, and Mali to reflect the importance of cotton as a global commodity.
World Cotton Day also strives to emphasize the problems that the world’s cotton economies experience, as cotton is important for the world’s least developed, emerging, and developed economies.
History of the day:
The initiative of World Cotton Day was born in 2019, when four cotton producers in sub-Saharan Africa– Benin, Burkina Faso, Chad and Mali, known as the Cotton Four -proposed the World Trade Organization a World Cotton Day celebration on October 7.
Veteran actor Arvind Trivedi, who was best known for his role of Raavan in the much-loved Ramayan by Ramanand Sagar, passed away. He was 82. He was also part of the political field, as an MP from the Sabarkatha constituency in Gujarat, and Arvind was a Member of Parliament from 1991 to 1996 from the Sabarkatha constituency. He served as the acting chairman of the Central Board of Film Certification (CBFC) from 2002 to 2003.
The famous Alibaug white onion from Maharashtra’s Raigad district has received the Geographical Indication (GI) tag on September 29, bringing worldwide recognition to its unique sweet taste, no-tears factor, as well as its medicinal properties.
In order to build an Aatmanirbhar Bharat and to position India strongly on the Global textiles map, the Government has approved the setting up of 7 PM MITRA parks as announced in the Union Budget for 2021-22.
PM MITRA is inspired by the 5F vision of the Prime Minister. The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This integrated vision will help to further the growth of the textile sector in the economy. No other competing nation has a complete textile ecosystem like us. India is strong in all five Fs.
These parks will be set up at Greenfield and Brownfield sites in different States by a Special Purpose Vehicle which will be owned by the State Government and Government of India in a Public-Private Partnership (PPP) Mode. The total outlay for the project has been set at Rs 4,445 crore for five years.
The Reserve Bank of India (RBI) on October 4 gave license to the ₹6,000 crore National Asset Reconstruction Company Ltd. (NARCL), a move that will help kickstart operations of the bad bank. The Reserve Bank of India (RBI) has approved the license of the National Asset Reconstruction Company Limited (NARCL) under section 3 of the SARFAESI Act 2002. The approval has been received from the Department of Regulation of the RBI.
As per Section 3 of the SARFAESI Act, a company can carry the business of asset reconstruction only after
- obtaining a certificate of registration from RBI and,
- having the owned fund of not less than Rs 2 crore or such other amount not exceeding 15% of total financial assets acquired or to be acquired by the securitisation company or reconstruction company.
The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 percent in NARCL.
Rating agency Moody’s Investors Service has upgraded India’s sovereign rating outlook to ‘stable’ from ‘negative’ , on October 05, 2021, following an improvement in the financial sector and faster-than-expected economic recovery across sectors. However, Moody’s had retained India’s sovereign rating at Baa3. “Following a deep contraction of 7.3% in fiscal 2020 (ending March 2021), Moody’s expects India’s real GDP to surpass 2019 levels this fiscal year, rebounding to a growth rate of 9.3%, followed by 7.9% in fiscal 2022,” it said on the growth outlook.
The Nobel Prize in Chemistry for the year 2021 has been awarded jointly to Benjamin List (Germany) and David MacMillan (the USA) “for the development of asymmetric organocatalysis”.
Benjamin List and David WC MacMillan won the 2021 Nobel Prize in Chemistry for the development of asymmetric organocatalysis. The duo developed a precise new tool for molecular construction, which had a great impact on pharmaceutical research, and has made chemistry greener. The Nobel Prize in Chemistry is awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden.
The award comes with a gold medal and prize money of 10 million Swedish kronor (over $1.14 million).
Kotak Mahindra Bank Limited (KMBL) has announced that it has received approvals from the Government of India for the collection of direct and indirect taxes such as income tax and goods and services tax through its banking network.
With this, the bank becomes the first scheduled private sector bank to receive approval after the announcement by Finance Minister Nirmala Sitharaman allowing all banks to participate in the government-related business.
After technical integration, KMBL customers will be able to pay their direct and indirect taxes straight from KMBL’s mobile banking or net banking platforms as well as through KMBL’s branch banking network, resulting in immense ease and convenience for customers.
