Top Current Affairs 12th May 2021 at Freshers Wisdom

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Obituaries-II

• The former Urdu newsreader of All India Radio, Afsar Ali Jafri passed away in May 2021. He was associated with the Urdu unit of the News Services Division of All India Radio for about 40 years.
• Promising upcoming bodybuilder Senthil Kumaran Selvarajan passed away in May 2021. Apart from Selvarajan, international bodybuilder Jagdish Lad also died due to coronavirus early in May 2021.

Bangladesh conducts the first test run for Metro

• The test run of the first electrical metro train in Bangladesh was conducted on 11 May 2021 in Dhaka.
• After the ‘receiving inspection’, the trains will go through a functional test followed by a performance test in Aug’21.
• Bangladesh is building a 21 km long Mass Rapid Transit system from Uttara to Motijheel at a cost of Tk 22,000 crore.
• The metro line MRT 6 will have 16 stations.

Manchester City: Premier League champions

• In the English Premier League, Manchester City has crowned Premier League champions for the third time in four seasons.
• Manchester United came second.
• Having won both the Premier League and the League Cup, Manchester City will now play to win the Champions League final on May 29, 2021. 

India will be the fastest-growing major economy

• The United Nations has informed that India will be the world’s fastest-growing major economy in 2022.
• In its mid-year update of the World Economic Situation and Prospects (WESP), United Nations projected that the Indian economy will grow at 10.1 percent in the calendar year 2022.
• China has been projected to grow at 5.8 percent, a slowdown from 8.2 percent in 2021.

Agriculture Ministry allocates Rs 2250 crore

• The Ministry of Agriculture and Farmers Welfare has provided an enhanced allocation of Rs. 2250 crore for the year 2021-22.
• It is for ‘Mission for Integrated Development of Horticulture (MIDH), a centrally sponsored scheme. 
• During the year 2019-20, the country recorded its highest ever horticulture production of 320.77 million tonnes from an area of 25.66 million hectares. 

4th India-Swiss Financial Dialogue held

• The 4th India-Swiss Financial Dialogue was held virtually in New Delhi on 11 May 2021.
• Secretary Economic Affairs Ajay Seth led the Indian delegation.
• The delegation from the Swiss side was led by Ms. Daniela Stoffel, State Secretary, State Secretariat for International Finance, Switzerland.
• The Dialogue covered sharing of experiences for collaboration on aspects including investments.

RBI excludes Lakshmi Vilas Bank from RBI Act

• The Reserve Bank of India (RBI) has excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) in 2020.
• A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as ‘Scheduled Commercial Bank’.
• It has been excluded with effect from 27 November 2020.

Paul Pickering’s new book ‘Elephant’

• British novelist Paul Pickering has come up with his new book titled ‘Elephant’.
• The book, published by Salt Publishing, spans two historical periods which correspond to the end of the rational modern and the end of the postmodern and poststructuralist, to a new metamodernism.
• He has also authored the highly-acclaimed novel ‘Over the Rainbow’.

India’s growth forecast to 9.3% for 2021-22

• Rating agency Moody’s Investor Service on 11 May 2021 slashed India’s GDP growth forecast for the current financial year 2021-22 to 9.3% from the projected 13.7%.
• This downfall is due to the negative impact of the second wave of coronavirus disease.
• Moody’s also expects a wider general government deficit of around 11.8% of the GDP in fiscal 2021, compared with its previous forecast of 10.8%.

Shakuntala Thilsted wins World Food Prize 2021

• Dr. Shakuntala Haraksingh Thilsted, a global nutrition expert of Indian descent, has won the prestigious 2021 World Food Prize.
• She was awarded the prize for her achievements in pioneering fish-based food systems to improve nutrition, health, and livelihoods for millions around the world.
• The World Food Prize was created by Nobel Peace Prize laureate Norman Borlaug in 1986. 

1st woman Executive Editor of Washington Post

• The Jeff Bezos-owned Washington Post named Sally Buzbee as Executive Editor on 11 May 2021.
• She will be the 1st woman to lead the newsroom in the paper’s 143 years history.
• She will assume the charge from 1 June 2021.
• Buzbee succeeds Martin Baron, who retired from the paper at the end of Feb 2021.
• Buzbee has been Executive Editor and senior VP of the Associated Press since early 2017.

Ruchi Soya to acquire Patanjali’s biscuits

• Ruchi Soya Industries on 11 May 2021 announced the acquisition of biscuits business from Patanjali Natural Biscuits Pvt Ltd (PNBPL) in a slump sale at Rs 60.02 crore.
• The objective of the acquisition is to expand the product portfolio of the existing business of the company.
• The turnover of the PNBPL was Rs 448 crore in 2019-20.

2021’s 1st cyclone to form in the Arabian Sea

• The India Meteorological Department (IMD) 11 May 2021 issued a forecast indicating the possible development of a cyclone in the Arabian Sea around May 16.
• This will be the first cyclonic storm of 2021 to form in the North Indian Ocean region.
• The cyclone will acquire the name Cyclone ”Tauktae”, given by Myanmar.

ASK invests ₹200 cr in Kalpataru’s project

• ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group has invested ₹200 crores in real estate Kalpataru Group’s mid-income housing project in Baner, Pune.
• This is an ongoing mid-segment residential project on 16 acres with a saleable area of 1.9 million sq. ft.
• This is ASK’s first investment in Kalpataru Group. 

Cadila to sell health business for Rs 2,921 cr

• Zydus Animal Health and Investments Ltd (ZAHL) has entered into an agreement to sell its Animal Healthcare Established Markets Undertaking (Zydus AH) to a consortium led by private equity firm Multiples Alternate Asset Management for Rs 2,921 cr.
• ZAHL is a wholly-owned subsidiary of Cadila Healthcare Ltd,
• It is the 2nd largest and one of the fastest-growing animal health businesses in India.

CBIC launches scheme for covid-affected staff

• The Central Board of Indirect Taxes and Customs (CBIC) has launched a scheme to provide financial and medical assistance to its officials and staff members affected by the pandemic.
• The scheme called ‘Aashvaasan’ also offers essential supplies and transport support to covid-affected staff members. 
• CBIC has lost 110 officials and staff members so far to the pandemic.

US to remove Xiaomi from the blacklist

• Xiaomi Corp. and the U.S. Government have reached an agreement to set aside a Trump administration blacklisting that could have restricted American investment in the Chinese smartphone maker.
• Xiaomi was co-founded by entrepreneur Lei Jun more than 10 years ago, with U.S. chipmaker Qualcomm Inc. as one of the earliest investors.

Dr. Reddy’s signs pact with Eli Lilly

• Dr. Reddy’s Laboratories has entered into an agreement with Eli Lilly and Company for the manufacture and commercialization of Baricitinib in India.
• Baricitinib has received restricted emergency use approval from the Central Drugs Standard Control Organisation (CDSCO) for use in combination with Remdesivir.
• Eli Lilly had earlier signed licensing agreements with Sun Pharma, Cipla, and Lupin.

Manisha Kapoor joins exec. committee of ICAS

• Advertising Standards Council of India’s General Secretary Manisha Kapoor has been appointed to the executive committee of the International Council for Advertising Self-Regulation (ICAS).
• She will be one of the four global vice-presidents on the executive committee.
• Set up by the European Advertising Standards Alliance in 2008, ICAS is a global platform of self-regulatory organizations.

Obituaries- I

• Chairman of Subros Ltd Ramesh Suri passed away in May 2021. He was the promoter and co-founder of Subros, India’s largest supplier of automotive air-conditioning and thermal products. 
• Veteran table tennis player and coach Venugopal Chandrasekhar passed away in May 2021. He was one of the most popular paddlers of his time who won three national championships. He was an Arjuna Award winner.

@Top Current Affairs 12th May 2021

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