VISION

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1)  World Day Against Trafficking in Persons: 30th July

•United Nations observes 30 July every year as World Day Against Trafficking in Persons. In 2013, the General Assembly designated July 30 as the World Day against Trafficking in Persons to raise awareness of the situation of victims of human trafficking and for the promotion and protection of their rights.

•The 2021 theme for World Day Against Trafficking in Persons is Victims’ Voices Lead the Way. This year’s theme puts victims of human trafficking at the centre of the campaign and will highlight the importance of listening to and learning from survivors of human trafficking.

2)  International Day of Friendship: 30 July

•International Day of Friendship is observed globally on 30th July. This day is celebrated to mark the importance of friends and friendship in life. The day also advocates the role that friendship plays in promoting peace in several cultures across the world.

3)  Govt announces 27% reservation for OBCs, 10% quota for EWS in medical seats

•The centre has announced 27% reservation for OBCs and a 10% quota for students from the economically weaker sections (EWS) for undergraduate and postgraduate medical and dental courses under the All-India Quota (AIQ) scheme. Under the AIQ scheme, 15% of seats at the UG level and 50% seats at the PG level are kept domicile free in government medical and dental colleges against which students from other states to are offered admission while the rest of the seats are kept only for students from within the state.

•This will immensely help thousands of our youth every year get better opportunities and create a new paradigm of social justice in our country. A statement by the government said that the decision would benefit nearly 1500 OBC students in MBBS and 2500 OBC students in PG while it will also impact around 550 EWS students in MBBS and around 1000 EWS students in PG medicine.

4)  Kerala police launched ‘Pink Protection’ project for women safety

•The Kerala Police launched a new initiative called the Pink Protection project for the protection of women in public, private and digital spaces. The Pink Protection project aims to prevent dowry-related issues, cyber-bullying & humiliation in public places. It has 10 components, one of which is activating the existing Pink Police Patrol system, named Pink Janamaithri Beat.

5)  Maldives’ Abdulla Shahid won the Presidency of the 76th UNGA

•Foreign Minister of Maldives Abdulla Shahid won the Presidency of the 76th Session of the United Nations General Assembly (UNGA). This is for the first time in the history of the United Nations (UN), Maldives will hold the office of President at the UNGA. Abdulla Shahid’s victory at the UNGA Presidential election is a “proud accomplishment” and “a step forward in elevating the country’s stature on the global stage”.

•Maldives’ decision to join the UN in 1965, immediately after its independence, sparked a debate on how a “microstate”, could possibly contribute to the organisation. Over the years, Maldives has cleared all the doubts by raising its voice on issues of concern and playing a prominent role in the UN as well as in the other multilateral organisations including the Commonwealth.

6)  Property consultant Colliers appoints Ramesh Nair as CEO for India

•Property consultant Colliers has appointed Ramesh Nair as the chief executive officer (CEO) for India and managing director, market development, for Asia. Nair’s experience and leadership skills will be particularly relevant to its clients in the region and around the world as they seek opportunities in the post-COVID economy.

•Nair joined Colliers from JLL India, where he held the position of CEO & country head, leading over 12,000 people. Based in Mumbai, Ramesh will partner with Sankey Prasad, chairman & managing director of Colliers in India, to lead the business.

7)  Vaidehi Dongre from Michigan crowned as Miss India USA

•Vaidehi Dongre, a 25-year-old girl from Michigan, has been crowned Miss India USA 2021 at the beauty pageant. Arshi Lalani from Georgia was declared the first runner up and North Carolina’s Mira Kasari was declared the second runner up. Dongre, who has majored in international studies, won the ‘Miss Talented’ title in the pageant for giving a flawless performance of Indian classical dance from Kathak.

•Former Miss World Diana Hayden was the chief guest and chief judge for the pageant. There were 61 contestants from 30 states participating in three different pageants – Miss India USA, Mrs India USA and Miss Teen India USA. The winners of all three categories get complimentary tickets to travel to Mumbai, India to take part in worldwide pageants.

8)  Madgaum Urban Co-op Bank licence cancelled by RBI

•The Reserve Bank of India has cancelled the licence of Madgaum Urban Co-operative Bank Limited, Margao, Goa, as the bank with its current financial position would be unable to pay its present depositors in full. According to the RBI, as per the data submitted by the bank, about 99 per cent of the depositors will receive full amounts of their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC). The bank ceases to carry on banking business with effect from the close of business on July 29, 2021.

•The Registrar of Cooperative Societies, Goa, has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs five lakh from the DICGC subject to the provisions of the DICGC Act, 1961. With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of the bank as per the DICGC Act, 1961 will be set in motion.

📰 National Gallery of Australia returns 14 art works including Chola idols

 Why in news?

• The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 was recently passed by Lok Sabha, replacing an ordinance on the same.
• It has proposed ‘pre-packs’ as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs).

How do ‘pre-packs’ work?

• A Pre-packaged Insolvency Resolution Process (PIRP) relates to the resolution of the debt of a distressed company.
• Pre-packs work through a direct agreement between secured creditors and the existing owners or outside investors.
• The agreement is an option instead of a public bidding process.
• Under it, financial creditors will agree to terms with the promoters or a potential investor.
• They then seek approval of the resolution plan from the National Company Law Tribunal (NCLT).

• The approval of at least 66% of financial creditors that are unrelated to the corporate debtor is required before a resolution plan is submitted to the NCLT.
• The NCLTs will be required to either accept or reject an application for a pre-pack insolvency proceeding before considering a petition for a CIRP.
• Corporate Insolvency Resolution Process (CIRP) is the existing mechanism.

How do pre-packs differ from CIRP?

• One of the key criticisms of the CIRP has been the time it takes for resolution.
• At the end of March 2021, 79% of the ongoing insolvency resolution proceedings had crossed the 270-day threshold.
• A major reason for the delays is the prolonged litigation by erstwhile promoters and potential bidders.
• The pre-pack, in contrast, is limited to a maximum of 120 days.
• It has only 90 days available to stakeholders to bring a resolution plan for approval before the NCLT.
• In the case of CIRP, a resolution professional takes control of the debtor as a representative of financial creditors.
• In the case of pre-packs, the existing management retains control.
• This would ensure minimal disruption of operations relative to a CIRP.

What is the objective?

 NIOS Geography Notes in English PDF

1)  International Tiger Day: 29 July

•Global Tiger Day or International Tiger Day is observed on 29th July every year to raise awareness about the declining population of wild cats and making efforts to conserve them. The goal of the day is to promote a global system for protecting the natural habitats of tigers and to raise public awareness and support for tiger conservation issues. This year marks the 11th International Tiger Day.

•The theme/Slogan for the 2021 International Tiger Day celebration is “Their Survival is in our hands”.

2)  Indore becomes only Indian city to make it to Int’l Clean Air Catalyst Programme

•The Indore city of Madhya Pradesh, or the cleanest city of India, has become the only city from the country to be selected for International Clean Air Catalyst Programme. The project will be operated for a period of five years to purify the air in the city with the cooperation of Indore Municipal Corporation and Madhya Pradesh Pollution Control Board. Under the project, USAID and partners will work with local communities to better understand local pollution sources and identify, test, accelerate, and scale solutions for cleaner, healthier air.

3)  Karnataka becomes the 1st state to reserve jobs for transgender persons

•Karnataka has become the first state in the country to provide one per cent reservation for the ‘transgender community in all the government services. The government submitted a report to the High Court in this regard informing that a notification had already been issued after amending the Karnataka Civil Service (General Recruitment) Rule, 1977.

•The specifies one per cent reservation in all general as well as reserve categories for the third gender. Whenever a notification is published inviting applications for government jobs, the ‘others’ column must be added along with male and female columns. The notification also underlines that there should not be any discrimination against transgenders in the process of selection. In case of non-availability of transgender candidates, the job could be given to male or female from the same category, the notification notes.

4)  GoI to set up Garima Grihas for transgender persons to provide safe shelter

•The Centre is setting up the Garima Grihas for transgender persons are with the help of community-based organizations. Minister of State for Social Justice and Empowerment A. Narayanaswamy informed Lok Sabha, 12 pilot shelter homes have been initiated with the aim of providing safe and secure shelter to transgender persons.

•The Garima Grihas for transgender persons is being set up with the help of community-based organizations. Such shelter homes have been set up in the states of Maharashtra, Delhi, West Bengal, Rajasthan, Bihar, Chhattisgarh, Tamil Nadu and Odisha.

5)  Brazil landscape garden Sitio Burle Marx receives UNESCO World Heritage status

•The Sitio Burle Marx site, a landscape garden in Brazilian city Rio de Janeiro has been added to UNESCO’s list of World Heritage sites. The garden features more than 3,500 species of plants native to Rio and is considered a laboratory for botanical and landscape experimentation.

•The site has been named after Burle Marx, a Brazilian landscape architect whose designs of parks and gardens made him world-famous. The Sitio Burle Marx site was his home until 1985.

6)  Najib Mikati picked as new Lebanon’s prime minister

•Billionaire businessman Najib Mikati was appointed as Lebanon’s new prime minister-designate following binding parliamentary consultations with President Michel Aoun. He ran virtually unopposed, receiving 72 votes, with former ambassador Nawaf Salam receiving just one vote. Forty-two MPs voted blank, and three MPs did not vote at all.

•His appointment comes just 11 days after Saad Hariri resigned as prime minister-designate, following nine months of political deadlock and dispute with President Aoun and his son-in-law MP Gebran Bassil.

•Lebanon’s economy continues to crumble with half the population living below the poverty line and a spiralling local currency that lost more than 90 per cent of its value. The country has been without a full-fledged government for almost one year and is struggling to reform its economy to unlock international aid.

7)  Alphabet to launch a new Robotics Company called Intrinsic

•Google-parent Alphabet will launch a new robotics company, Intrinsic which will focus on building software for industrial robots. The segment comes out of X, Alphabet’s Moonshot factory that houses futuristic firms such as Waymo, Wing and Verily.

8)  Hubble Finds First Evidence of Water Vapor at Jupiter’s Moon Ganymede

•For the first time, astronomers have uncovered evidence of water vapour in the atmosphere of Jupiter’s moon Ganymede. This water vapour forms when ice from the moon’s surface sublimates that turns from solid to gas. Scientists used new and archival datasets from NASA’s Hubble Space Telescope to make the discovery, published in the journal Nature Astronomy.

•In 1998, Hubble’s Space Telescope Imaging Spectrograph took the first ultraviolet (UV) images of Ganymede, which revealed colourful ribbons of electrified gas called auroral bands, and provided further evidence that Ganymede has a weak magnetic field. The similarities in these UV observations were explained by the presence of molecular oxygen (O2). But some observed features did not match the expected emissions from a pure O2 atmosphere. At the same time, scientists concluded this discrepancy was likely related to higher concentrations of atomic oxygen (O).

9)  Sunjeev Sahota among 13 contenders for fiction’s Booker Prize

•Indian-origin British author, Sunjeev Sahota is among the 13 authors longlisted for the prestigious 2021 Booker Prize for fiction for his novel ‘China Room’, alongside Nobel laureate Kazuo Ishiguro and Pulitzer Prize winner Richard Powers. The 2021 longlist or “The Booker Dozen” of 13 novels was unveiled after judges evaluated 158 novels published in the UK or Ireland between October 1, 2020, and September 30, 2021. A six-book shortlist will be announced on September 14, and the winner will be crowned on November 3 during a ceremony in London.

10)  Paytm Payments Bank crosses 1 crore FASTags mark

•Paytm Payments Bank has become the first bank in the country to achieve the milestone of issuing 1 crore FASTags. According to the National Payments Corporation of India (NPCI), over 3.47 crore FASTags were issued by all banks together till the end of June 2021. Paytm Payments Bank (PPBL) now has close to 28 per cent share as FASTag issuer bank. In the last 6 months alone, PPBL has equipped over 40 lakh commercial & private vehicles with FASTags.

•Besides this, Paytm Payments Bank is also India’s largest acquirer of toll plazas for the National Electronic Toll Collection (NETC) program offering an interoperable nationwide toll payment solution. According to PPBL, 280 out of the total 851 toll plazas across the national and state highways are now using its payment gateway to collect toll charges digitally.