In this article, we will discuss all the important current affairs of 10th July 2021 in detail.
1. In GIFT City, India’s first maritime arbitration centre will be established.
- The Gujarat Maritime University and the International Financial Services Centres Authority signed a Memorandum of Understanding (MoU) in GIFT City to develop the Gujarat International Maritime Arbitration Centre (GIMAC).
- This will be the country’s first arbitration and mediation centre for conflicts involving the nautical and shipping industries.
2. By November 1, the Kerala government will have its own OTT platform.
- The Kerala State government’s anticipated entry into the internet content streaming arena with the development of an over-the-top (OTT) platform is more of a cultural intervention than a business or revenue-driven move.
- It is expected to be launched by November 1st, according to the state government.
3. LG J&K City Livelihood Centre has been e-launched by Manoj Sinha (CLC) Jammu
- Kashmir (Jammu and Kashmir) Lieutenant Governor Manoj Sinha has e-launched the City Livelihood Centre (CLC) Jammu and set the e-foundation for an Integrated Solid Waste Management facility costing 80 crore rupees in Kot-Bhalwal, Jammu.
- The move will make Jammu and Kashmir’s cities more sustainable, structured, and accommodating to society’s marginalised groups.
4. Under the NISHTHA programme, J&K ranks first in the country.
- Jammu and Kashmir’s Department of School Education has topped the country with 80600 elementary teachers trained on the Nishtha online platform, which was launched by India’s Ministry of Education.
- In the Union Territory of Jammu and Kashmir, the National Initiative for School Heads and Teachers’ Holistic Advancement (NISHTHA) was created. Through integrated Teacher Trainings, it strives to improve learning outcomes at the elementary level.
5. Denmark built the world’s largest sandcastle.
- According to reports, a 21.16-meter-high sandcastle in Denmark has set a Guinness World Record.
- The world’s highest sandcastle, created in Denmark, is nearly three metres higher than the previous Guinness world record of 17.66 metres, set in Germany in 2019.
6. Nirmala Sitharaman, the Finance Minister of India, is participating virtually in the G20 High-Level Tax Symposium on Tax Policy and Climate Change.
- Nirmala Sitharaman, the Finance Minister, attended the G20 High-Level Tax Symposium on Tax Policy and Climate Change remotely. G20 Italy hosted the symposium before of the third G20 Finance Ministers and Central Bank Governors Meeting.
- Ms Sitharaman, speaking at the event, stated that fiscal policy alternatives are employed in India to achieve better environmental outcomes, and that concessional tax rates are in place to encourage the use of renewables.
7. Tabar, an Indian naval ship, participates in a military drill with the Italian Navy.
- After entering the Port of Naples as part of an extended deployment to the Mediterranean, the Indian Naval Ship Tabar engaged in military manoeuvres with an Italian Navy frontline frigate.
- Several naval missions were addressed during this exercise, including air defence procedures, communication drills, replenishment at sea, and day and night cross deck helo operations.
Banking & Finance News
8. The International Monetary Fund (IMF) has approved a $ 650 billion expansion to combat the Covid-19 pandemic.
- The International Monetary Fund’s executive board agreed a $650 billion increase in resources to help economically weak countries combat the coronavirus pandemic.
- The fresh funding, which is the largest in the IMF’s 190-nation lending institution’s history, will be a “shot in the arm for the world,” according to Managing Director Kristalina Georgieva.
9. The Reserve Bank of India has tweaked the rules for interest on unclaimed funds after a deposit matures.
- The Reserve Bank of India (RBI) has changed the rules for interest on money left unclaimed with a bank after a term deposit matures.
- Currently, if a term deposit matures with no proceeds, the sum left unclaimed with the bank earns the same rate of interest as savings deposits.
10. Drip Capital and SBM Bank India have teamed up to help MSME exporters.
- Drip Capital, a cross-border trade finance fintech firm, has collaborated with SBM Bank India to offer trade financing solutions tailored to India’s small and medium-sized exporters.
- MSME exporters will be able to obtain collateral-free working capital at competitive rates as a result of this relationship.
11. Axis Bank and Max Bupa Health Insurance form a Bancassurance relationship.
- Axis Bank, India’s third largest private sector bank, has formed a Corporate Agency collaboration with Max Bupa to deliver comprehensive and best-in-class health insurance solutions to its customers.
- Through a choice of health insurance policies supplied by Max Bupa, millions of Axis Bank clients across 4500+ branches will be able to access premium healthcare solutions.
12. The Axis Bank’s ‘Power Salute’ programme gives an Indian Army compensation package for those who have served in the military.
- Axis Bank, India’s third-largest private lender, has inked a memorandum of understanding with the Indian Army to offer a defence service compensation package as part of its “Power Salute” project.
- All grades of army officers would receive distinct benefits under the Defence Service Salary Package.
Business & Economy News
13. Bulletin, a Facebook newsletter product, has been launched.
- Bulletin, a standalone site for free and paid articles and podcasts that will compete with Substack, was created by Facebook.
- Bulletin will feature support for content production, monetisation, and audience growth, according to the internet giant.
14. The National Multi Commodity Exchange of India (NMCX) and the European Energy Exchange AG (EEX) have signed a Memorandum of Understanding (MOU) with the goal of knowledge sharing and expertise exchange on electricity derivative products.
- This MoU will make it easier for the two exchanges to collaborate in areas including knowledge sharing, education and training, and event planning in the field of electricity derivatives.
15. Nihal Sarin of India wins the Serbia Open chess tournament and joins the top 100 players in the world.
- Nihal Sarin, a young Indian chess prodigy, won the Masters division of the Serbia Open Chess Championship, his second consecutive tournament victory after winning the Silver Lake Open, catapulting him into the top 100 in live chess ratings.
- The 16-year-old from Thrissur, Kerala, drew with GM Vladimir Fedoseev of Russia to finish with 7.5 points out of a possible nine to win the nine-round Serbia Ope by a comfortable margin
Awards & Honours
16. Zaila Avant-garde, 14, wins the Scripps National Spelling Bee in 2021.
- The 2021 Scripps National Spelling Bee was won by Zaila Avant-garde, an African-American from New Orleans, Louisiana.
- Avant-garde, a 14-year-old basketball prodigy, is the first African-American to win the renowned competition in its 93-year existence.
17. After Delhi and Mumbai, Cochin Airport is the third busiest in terms of international traffic. Between the months of January and May
- Despite the global pandemic that wreaked havoc on the aviation industry, the Cochin International Airport Limited (CIAL) improved its international traffic ranking from fourth to third from January to May 2021. According to CIAL, the domestic sector is also improving, with a two-fold growth in June.
- During the five months, Cochin airport handled 5,89,460 foreign passengers, placing it third behind Delhi and Mumbai airports.
Books & Authors News
18. Jairam Ramesh’s book “The Light Of Asia”
- The book “The Light of Asia,” written by Jairam Ramesh, was recently published. This book is a biography of an epic Buddha bio-poem.
- Ramesh, an author, Member of Parliament, former Union Minister, and Congress leader, delves into his new book to uncover the fascinating storey behind Sir Edwin Arnold’s epic 1879 poem “The Light of Asia,” which swept the world and, in some ways, brought the Buddha’s storey to the world at the turn of the century.
19. Keshav Datt, an Olympic gold medalist in hockey, has died.
- Keshav Datt, a two-time Olympic gold medalist in hockey, died of age-related diseases. Datt was 95 years old when he died.
- He was a fearsome halfback who was a member of India’s historic performance in the 1948 Olympics, when they defeated host nation Britain 4-0 at Wembley Stadium in London to win the country’s first gold medal since independence.
20. 10 July is National Fish Farmers’ Day.
- The Department of Fisheries, Ministry of Fisheries, Animal Husbandry, and Dairying, in collaboration with the National Fisheries Development Board, celebrates National Fish Farmers’ Day every year on July 10th (NFDB).
- The day is observed every year to honour scientists Dr. K H Alikunhi and Dr. H.L.
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