1. The RDSO is the first standards body to join the government’s “One Nation, One Standard” initiative.
- The One Nation, One Standard initiative was launched with the goal of harmonising standards adopted by the country’s various Standard Development Organizations. The voluntary integration strategy of several standard-setting agencies will bring uniformity to the quality of goods and services produced in the country, boosting the image of the country as a “Brand India.”
- Lucknow, India-based The Railway Development and Standards Organization (RDSO), which sets standards for the railway industry, has become the country’s first standards agency to join the central government’s “One Nation, One Standard” initiative, which aims to ensure quality products for Indian customers.
2. The Cabinet has approved a Memorandum of Understanding between India and Japan in the field of sustainable urban development.
- India and Japan have signed a Memorandum of Cooperation ( Moc) in the field of sustainable urban development, which has been approved by the Cabinet.
- Under the terms of the MoC, a Joint Working Group (JWG) will be formed to strategize and implement cooperative programmes.
3. West Bengal would receive a Rs 7,000 crore grant from the Centre under the Jal Jeevan Mission in 2021-22.
- Under the Jal Jeevan Mission, the Centre has committed roughly 7,000 crore rupees to West Bengal for 2021-2022 to ensure that every home has reliable tap water on a long-term basis.
- Only 2.14 lakh rural families in West Bengal had access to tap water at the time of the Jal Jeevan Mission’s launch, accounting for around 1% of the state’s 163.25 lakh rural households.
4. The WHO has given the names ‘Kappa’ and ‘Delta’ to two Covid-19 variants that were first discovered in India.
- Two forms of the Covid-19, first discovered in India, have been given easy-to-say designations by the United Nations’ World Health Organization (WHO).
- B.1.617.1 and B.1.617.2 are the two versions.
- The Covid 19 B.1.617.1 variety is known as ‘Kappa,’ whereas the B1.617.2 variation is known as ‘Delta.’
5. IFFCO launches the world’s first ‘Nano Urea’ for farmers all over the world.
- IFFCO, the world’s largest cooperative society, has launched the world’s first “Nano Urea” for farmers all over the world.
- The liquid form of the indigenously developed “Nano Urea” will be used.
The first batch of urea will be produced in June 2021.
6.‘Steadfast Defender 2021′ is a multilateral military exercise organised by NATO.
- NATO has organised a three-part international military exercise titled Steadfast Defender 2021 to demonstrate NATO’s readiness and military mobility.
The drill will take place in the Atlantic and Europe, as well as in the Black Sea.
Banking & Finance
7. Shivajirao Bhosale Sahakari Bank, situated in Pune, has had its licence revoked by the RBI.
- The RBI has revoked the licence of Shivajirao Bhosale Sahakari Bank in Pune, citing the lender’s lack of capital and earnings potential.
- More than 98 per cent of depositors would get the full value of their savings from the Deposit Insurance and Credit Guarantee Corporation (DICGC), according to data supplied by Shivajirao Bhosale Sahakari Bank, the RBI stated in a statement.
Business & Economy
8. India’s growth forecast for FY22 has been lowered to 9.9% by the OECD.
- The Organisation for Economic Cooperation and Development (OECD) has lowered its growth forecast for India for FY22 to 9.9% from 12.6 per cent in March, citing the second wave of coronavirus infections as a reason for the slowdown in Asia’s third-largest economy.
- While India is expected to be the fastest-growing G20 economy in 2021, it will also be the one that has strayed the most from its pre-crisis GDP trajectory, according to the OECD.
9. According to Moody’s, India’s economy will grow at a rate of 9.3 percent in FY22.
- According to Moody’s Investors Service, India’s economy would grow by 9.3% this fiscal year, but the second Covid-19 wave has elevated risks to the country’s forecast, with significant longer-term credit repercussions.
- According to the report, the economy quickly recovered from a sharp downturn in 2020. However, the shock of the coronavirus second wave has increased vulnerabilities to India’s credit profile, such as a sustained slowdown in GDP, inadequate government finances, and mounting financial sector vulnerabilities.
10. In Amsterdam, TCS builds its first European innovation centre.
- At its new innovation hub in Amsterdam, Tata Consultancy Services (TCS) will bring together universities, corporations, startups, and the government to help employ digital technology to solve sustainability concerns.
It will focus on the sustainability difficulties that businesses confront, and it will be the first in a network of European centres known as TCS Pace Ports.
11. The NHRC’s new chief is Justice A.K. Mishra.
- President Ram Nath Kovind has named Justice Arun Kumar Mishra as the National Human Rights Commission’s chairperson (NHRC).
- In 1978, Justice Mishra became a lawyer, and in 1998-99, he was elected the youngest chairperson of the Bar Council of India.
12. Former Justice Vikramjit Sen has been named Chairman of the Indian Broadcasting Foundation.
- The Indian Broadcasting Foundation (IBF), which will soon be renamed the Indian Broadcasting & Digital Foundation (IBDF), the apex body of broadcasters and OTT operators, has announced the appointment of Justice (Retd.) Vikramjit Sen as Chairman of the newly formed Digital Media Content Regulatory Council, along with six other eminent industry members (DMCRC).
- The Council is made up of well-known figures from the media and entertainment industries, as well as Online Curated Content Providers (OCCPs) with expertise in intellectual property, programming, and content creation.
13. As Deputy Chief of Naval Staff, Vice Admiral Ravneet Singh takes over.
- As Deputy Chief of Naval Staff, Vice Admiral Ravneet Singh took over. Vice Admiral Singh joined the Indian Navy on July 1, 1983, with a specialisation in aviation.
- During his illustrious Naval career, the Admiral has had a variety of demanding Staff, Command, and Diplomatic postings and has extensive expertise onboard a variety of systems.
14. T.V. Narendran, MD & CEO of Tata Steel, has been elected as the CII’s President for the years 2021-22.
- T V Narendran, the Managing Director and Chief Executive Officer of Tata Steel, has been voted as the Confederation of Indian Industry (CIInew )’s President for the years 2021-22.
- He takes over as CEO and MD of Kotak Mahindra Bank from Uday Kotak.
15. J B Mohapatra is now the Chairman of the CBDT.
- For a period of three months, Jagannath Bidyadhar Mohapatra, a member of the Central Board of Direct Taxes (CBDT), has been assigned the additional role of Chairman of CBDT.
- Prakash Chandra Mody’s term ended on May 31, 2021, and Mohapatra, a 1985-batch Indian Revenue Service official, has been appointed as his successor.
16. Brazil will host the Copa America for the second time in a row.
- After Colombia and Argentina were stripped of their hosting rights for Copa America, Brazil will host the tournament for the second time.
- CONMEBOL, the South American soccer governing body, made the announcement hours after ruling Argentina out due to an upsurge in COVID-19 cases in the country.
17. Shafali Verma remains the ICC women’s T20I batting leader.
- Shafali Verma, a teenage Indian batswoman, continues to lead the ICC women’s T20I batting standings. The 17-year-old athlete, who is being hailed as Smriti Mandhana’s successor, has 776 points and is 32 points ahead of second-placed Beth Mooney of Australia.
- Smriti Mandhana, India’s T20 vice-captain, is in fourth place with 693 points. With 640 points, Jemimah Rodriques is the third Indian in the top ten T20I batting rankings.
Awards & Honours News
18. Climbers from the United States and Hong Kong have set new records for conquering Mount Everest.
- Climbers from the United States and Hong Kong established new records this week when they conquered Mount Everest.
- At the age of 75, Arthur Muir became the oldest American to climb the world’s highest peak, the 8,848.86-meter Mount Everest (29,031 feet).
- Muir broke Bill Burke’s record, which he achieved in 2009 when he became the oldest American to climb the summit at the age of 67.
19. Jordan Clarkson of the Utah Jazz is named NBA Sixth Man of the Year for the 2020-2021 season.
- Jordan Clarkson, who has been terrific off the bench for the Utah Jazz, was named NBA Sixth Man of the Year 2021 by the League.
- He joins a select group of outstanding players who have already received this honour, including James Harden and Lou Williams.
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