In this article, we will discuss all the important current affairs of 4th July 2021 in detail.
1. According to the International Energy Agency, India will add 26 GW of hydropower projects by 2030.
- The International Energy Agency (IEA) predicts that by 2030, the country will have added 26,000 megawatts (MW) of hydropower projects, thanks to increased government policy support.
- The installed capacity of the country’s 207 hydroelectric projects is now 46,209 MW. Currently, more than 9,000 MW of big hydro projects are being built.
Banking & Finance
2. According to an RBI report, gross nonperforming assets (NPAs) in banks could reach 9.8% by March 2022.
- According to the Reserve Bank of India’s Financial Stability Report (FSR), the gross non-performing assets (GNPAs) percentage of banks could climb to 9.8% by March 2022, up from 7.48 percent in March 2021, under a baseline scenario.
- According to the analysis, banks’ GNPA may rise to 11.22 percent in a severe stress scenario.
3. Eroute introduces India’s first prepaid card designed specifically for India’s youth.
- Eroute Technologies Private Limited, a card-based payment company, launched its first product, OmniCard – India’s First Omni-channel Pre-paid Card, exclusively for the YOUNG Generation, with the goal of empowering them by providing them with independence and a cutting-edge mobile app in the rapidly growing Indian payment industry.
- RuPay is the engine that drives this site. OmniCard combines the convenience of online and offline payment alternatives with the most innovative, secure, and long-lasting payment experiences.
4. Saral Pension Plan is launched by LIC.
- A new annuity plan has been announced by the Life Insurance Corporation (LIC). The new plan is known as the LIC Saral Pension Plan. It is a non-linked, non-participating, single premium, individual instant annuity product, according to the company.
- The LIC is offering two lump-sum annuity choices under this pension plan: a life annuity with a 100% return on the purchase price and a joint life last survivor annuity with a 100% return on the purchase price on the death of the last survivor.
5. The Reserve Bank of India has extended the interest subsidy plan for exporters through September.
- The Reserve Bank of India (RBI) has extended the interest equalisation plan for pre- and post-shipment rupee export credit for another three months, until September 30, 2021. This is welcome news for exporters who have been fighting to recover from the second Covid wave’s devastation.
- The ‘Interest Equalisation Scheme for before and post-shipment Rupee Export Credit’ provides the subsidy to exporters. The programme was extended till June 30 in April.
Business & Economy News
6. In order to assist MSME exporters in India, FIEO has partnered with Aramex.
- The Federation of Indian Export Organisations (FIEO) has signed a memorandum of understanding with Aramex India, a logistics service provider, to promote India’s micro, small, and medium enterprise (MSME) exporters.
- According to the MoU, Aramex will offer FIEO members priority pricing and access to online services for cross-border express shipments.
7. GIFT City and BRTSIF have teamed up to accelerate fintech innovation.
- The Gujarat International Finance Tec-City (GIFT City) has announced a partnership with the BIL Ryerson Technology Startups Incubator Foundation (BRTSIF) to help accelerate fintech innovation.
- According to a release from GIFT City, Zone Startups India, a component of BRTSIF, will investigate options to set up and promote a financial cluster in GIFT SEZ as part of the agreement.
8. Pushkar Singh Dhami elected as new Uttarakhand chief minister.
- The Bharatiya Janata Party (BJP) named Pushkar Singh Dhami as the new chief minister of Uttarakhand on July 3rd, succeeding Tirath Singh Rawat, who stood down on July 2nd. Dhami is a member of the Khatima assembly constituency in the Udham Singh Nagar district of the hill state.
- In less than four months, Dhami has become Uttarakhand’s third chief minister. Trivendra Singh Rawat’s successor, Tirath Singh Rawat, was sworn in on March 10.
9. In the FIH standings, India’s men and women are ranked fourth and tenth, respectively.
- In the latest FIH rankings, India’s men’s and women’s hockey teams stayed in fourth and tenth place, respectively.
- After a spate of victories over New Zealand in the FIH Hockey Pro League and a FIH sanctioned test series, Australia climbed to the top of the men’s global rankings with 2513.67 points.
SCIENCE & TECHNOLOGY
10. On a Soyuz rocket, Arianespace launches 36 OneWeb broadband satellites.
- A Russian Soyuz rocket carrying 36 UK telecommunication and internet satellites launched from Russia’s Far East’s Vostochny cosmodrome.
- Arianespace, the world’s leading satellite launch firm, was in charge of the launch.
11. SBI commemorates its 66th anniversary.
- The State Bank of India, or SBI, is the country’s oldest commercial bank, marking its 66th anniversary on July 1, 2028. Through the Imperial Bank of India, SBI descends from the Bank of Calcutta, which was formed in 1806.
- On this day in 1955, the Bank of Madras amalgamated with the other two presidential banks, the Bank of Calcutta and the Bank of Bombay, to become the Imperial Bank of India, which was later renamed the State Bank of India.
12. Week 2021 of Crop Insurance
- During Crop Insurance Week, Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar inaugurated the Crop Insurance Awareness Campaign for Fasal Bima Yojana as part of the government’s India@75 campaign “Azadi ka Amrit Mahotsav,” honouring India’s 75th anniversary of independence.
- The campaign will run for the entire week, covering all notified areas/districts for the Kharif 2021 season, with a specific focus on 75 Aspirational/Tribal districts recognised by the Ministry of Agriculture and Forestry as having low crop insurance penetration.
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