Pension regulator PFRDA has kickstarted a campaign under 'Azadi Ka Amrit Mahotsav'
• Pension Fund Regulatory and Development Authority (PFRDA) will observe October 01, 2021 as the National Pension System Diwas (NPS Diwas). This campaign has been started by PFRDA under the ‘Azadi Ka Amrit Mahotsav’ to promote pension and retirement planning for a carefree ‘azad’ retirement. PFRDA is promoting this campaign on its social media platforms with #npsdiwas.
• The pension regulator aims to encourage every citizen (working professionals and self-employed professionals) to plan towards creating a financial cushion to ensure for onself a financially sound future after retirement. NPS subscribers will enjoy the benefits, power of compounding now and reap many of the benefits after retirement.
Govt sets up NARCL, big boost for Banking Sector
• The government has set up an asset management company (AMC) named India Debt Resolution Company Ltd (IDRCL) with a paid-up capital of Rs. 80.5 lakh on an authorized capital of Rs 50 crore. IDRCL will work in tandem with the National Asset Reconstruction Company Ltd (NARCL) to clean up bad loans.
• Bank of Baroda (BoB), Punjab National Bank (PNB), Bank of India (BoI), Bank of Maharashtra, SBI, Union Bank of India, Canara Bank, Indian Bank and IDBI Bank are the shareholders of IDRCL.
Former ISRO chief K Kasturirangan to head education ministry’s panel to develop new curriculum for schools
• The Union education ministry has formed a 12-member committee to develop new curriculums for school, early childhood, teacher and adult education. The panel tasked with developing four national curriculum frameworks (NCFs) will be headed by National Education Policy-2020 (NEP-2020) drafting committee chairperson K Kasturirangan.
• The committee will discuss “position papers” finalised by national focus groups on different aspects of the four areas drawing inputs from state curriculum frameworks. The NCFs serve as a guideline for syllabus, textbook and teaching practices for schools in India.
APPOINTMENT & RESIGNATION
Air India chief Rajiv Bansal appointed as Civil Aviation Secretary
• Rajiv Bansal appointed as Secretary in the Ministry of Civil Aviation. Bansal is currently Chairman & Managing Director (CMD) of Air India. He is a 1988-batch IAS Nagaland cadre, Bansal was serving as additional secretary in the Ministry of Petroleum & Natural Gas before Air India. He will replace the current Aviation Secretary Pradeep Singh Kharola, who retires on 30 September.
• Last year in February, Bansal was appointed as the chairman and managing director of Air India for a second time. His appointment came just days after the government announced 100% stake sale of the debt-ridden Air India.
RN Ravi resigns as Naga peace talks interlocutor
• The government of India accepts RN Ravi’s resignation as interlocutor for Naga peace talks. Ravi has negotiated for several years with key insurgent groups for the signing of the Naga Peace Accord. Recently, R N Ravi has been appointed as governor of Tamil Nadu. Akshay Mishra is likely to be appointed as the new peace talks interlocutor. He is serving in the Intelligence Bureau.
• In recent years, the Naga peace process has derailed due to the deteriorating relationship between the National Socialist Council of Nagaland-(Isak Muivah) with the Centre, and Ravi.
• The Nagaland Peace Accord framework was signed on 3 August 2015 by the Government of India, and the National Socialist Council of Nagaland (NSCN).
Ex-Delhi police chief, who handled Batla House case, passes away at 70
• Former Governor of Arunachal Pradesh and Commissioner of Delhi Police, Yudhvir Singh Dadwal, has passed away. Dadwal, a 1974-batch IPS officer, was the 16th police commissioner of Delhi from July 2007 to November 2010.
• After retirement, he was appointed as the Director-General of the Central Paramilitary Force, Sashastra Seema Bal (SSB) in November 2010. In 2016, Dadwal was appointed as the Governor of Arunachal Pradesh.
AWARDS & RECOGNITION
Phumzile Mlambo-Ngcuka bags 2021 Global Goalkeeper Award
• The Bill & Melinda Gates Foundation announced its annual Goalkeepers ‘Global Goals Awards’ 2021, as part of its annual Goalkeepers campaign. Goalkeepers is the foundation’s campaign to accelerate progress towards the Sustainable Development Goals (Global Goals). By sharing stories and data behind the Global Goals through an annual report, we hope to inspire a new generation of leaders—Goalkeepers who raise awareness of progress, hold their leaders accountable, and drive action to achieve the Global Goals.
• Phumzile Mlambo-Ngcuka, former United Nations under-secretary-general and executive director of UN Women. She has been honoured for fighting for gender equality and her continued advocacy to address the Covid-19 pandemic’s disproportionate impact on women and girls. This award recognises a leader who has driven progress on a global scale toward achieving sustainable development goals (SDGs).
BOOKS & AUTHOR
‘400 Days’ is the new book of Chetan Bhagat
• Chetan Bhagat will release his new novel titled ‘400 Days’ on October 08, 2021. He has released the cover for the same. It is the third novel in the Keshav-Saurabh series, after ‘The Girl in Room 105’ and ‘One Arranged Murder’.
• The novel is a tale of suspense, human relationships, love, friendship, the crazy world we live in and, above all, a mother’s determination to never give up.
BANKING AND ECONOMIC
Federal Bank partners with OneCard to launch mobile-based credit card
• Federal Bank has announced a tie-up with OneCard for a mobile-first credit card that targets the country’s young, tech-savvy population. The launch comes ahead of the festive season as Federal Bank aims to cash in on consumer credit demand, which is expected to peak around the festive season on the back of economic revival.
• The credit card will be issued through the OneCard app in under three minutes, as per the company, and can be activated and used instantly in virtual format until the physical card gets delivered.
• Users can control their cards through the app—from tracking spends and rewards to setting transaction limit on the card and more.
Yes bank partners with VISA for credit cards
• Yes Bank has partnered with Visa to offer credit cards to its customers, following the regulatory ban on Mastercard by RBI. The Visa co-branded cards come with nine credit card variants covering all segments, consumer cards, business cards, and corporate cards across YES First, YES Premia and YES Prosperity.
• YES Bank earlier had an exclusive tie-up with Mastercard. However, its credit card issuances had been impacted after the Reserve Bank of India barred Mastercard from onboarding new customers on its domestic card network.
• Yes Bank has achieved the transition to Visa as a payment network within a record time of fewer than 60 days, post the bank imposed on Mastercard from July 22, 2021. The private sector lender is also in the process of completing technology integration with NPCI and plans to issue Rupay branded credit cards in due course.