19th March 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the Daily GK Update of 19th March 2021 covering the following news headlines: Ratle Hydroelectric Power Corporation, Awaam Ki Baat, World’s Largest Floating Solar Farms, Stop TB Partnership Board.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the GK update of 19th March 2021 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. J&K Govt approves setting up of JVC “Ratle Hydroelectric Power Corporation”

• The Jammu and Kashmir administration has approved the incorporation of a joint venture company (JVC) under the name “Ratle Hydro-electric Power Corporation”. To implement the 850 MW Ratle Hydro-Electric Project (HEP) on river Chenab in the Kishtwar district of the Union Territory (UT) of Jammu & Kashmir (J&K).
• The JV company has been incorporated between the Government of Jammu and Kashmir, National Hydroelectric Power Corporation (NHPC) and J&K State Power Development Corporation Ltd (JKSPDC).
• The equity contributions of NHPC will be 51 per cent and for JKSPDC will be 49 per cent.
• The proposed JVC will have an authorised capital of Rs 1,600 crore with initial paid-up capital of Rs 100 crore.
• The 850 MW Ratle HEP will be developed at an estimated cost of Rs 5,281.94 crore.

Important takeaways for all competitive exams:

• Lieutenant Governor of Jammu and Kashmir: Manoj Sinha.

2. J&K LG Manoj Sinha inaugurates project “Awaam Ki Baat”

• Union Territory of Jammu and Kashmir, Lieutenant Governor, Manoj Sinha, initiated the project “Awaam Ki Baat” – a Radio program by launching its website at Raj Bhavan, Jammu.
• The half-an-hour long Radio program to be aired every third Sunday of the month (to start from April), is one of the many sequential steps of a broader program aimed at disseminating the progressive steps taken by the government and providing the public with a platform to speak, write and interact with the administration, thereby voicing their suggestions, ideas and creative proposals.
• Awaam Ki Baat is the novel initiative of the Office of the Lieutenant Governor, Jammu and Kashmir which aims at disseminating the progressive steps taken by the administration and seeks public feedback to make the process interactive, participative and people-centric. The platform appreciates the heterogeneity of our Union Territory.

International News

3. World’s Largest Floating Solar Farms being built in Singapore

• The largest floating solar farm in the world is being built in Singapore. The country has resorted to set up energy plants off the coasts and reservoirs across it.
• This floating solar farm is being set up in the light that despite being one of the smallest countries across the world, it is one of the biggest per capita carbon dioxide emitters in India.
• Thus, to cater to the issue of climate change and to cut the greenhouse gas emission it is building the floating solar farm. This project is being built by Sembcorp Industries.

Important takeaways for all competitive exams:

• Singapore Currency: Singapore dollar.
• Capital of Singapore: Singapore.
• PM of Singapore: Lee Hsien Loong.

Appointments News

4. Dr Harsh Vardhan appointed as chairman of ‘Stop TB Partnership Board’

• Union Minister for Health and Family Welfare, Dr Harsh Vardhan has been appointed as the Chairman of the international body Stop TB Partnership Board.
• He was appointed in recognition of his outstanding contribution to the movement to eradicate Tuberculosis from India by 2025. He will serve a three-year term, commencing from July this year.
• The Stop TB Partnership is a unique international body with the power to align actors all over the world in the fight against TB.
• The participation of a wide range of constituencies gives this global body the credibility and the broad range of medical, social and financial expertise needed to defeat TB.
• The Partnership’s vision is a TB-free world.
• The appointment of Dr Harsh Vardhan as the Chair of this prestigious global body is a proud recognition of India’s political commitment to the eradication of TB.
• Established in the year 2000, the ‘Stop TB Partnership’ is mandated to eliminate Tuberculosis as a public health problem.

Important takeaways for all competitive exams:

• World Tuberculosis Day, observed on 24 March.

5. Ajay Mathur takes over as Director-General of International Solar Alliance

• Dr Ajay Mathur has assumed office as the Director-General of the International Solar Alliance (ISA) with effect from March 15, 2021. He has been appointed for a period of four years which can be renewed for an additional term.
• Dr Ajay Mathur has replaced Upendra Tripathy, who completed his term on March 15, after serving as the Director-General since 2017.
• Mathur brings a wealth of leadership and expertise across all key areas of the energy transition, from policy, research, and technology commercialisation to financing, international cooperation and institutional development.
• He is a member of the Prime Minister’s Council on climate change.
• He had also served as the Director-General of TERI and also a key Indian climate-change negotiator. He was also the spokesperson for India during the 2015 climate negotiations in Paris.

Important takeaways for all competitive exams:

• ISA Headquarters Location: Gurgram, Haryana.
• ISA Established: 2015.

Agreement News

6. SBI and IOCL to ink India’s First Libor Alternative Rate Deal

• The State Bank of India (SBI) and Indian Oil Corporation Limited (IOCL) will sign the first Secured Overnight Financing Rate (SOFR) linked external commercial borrowing (ECB) deal.
• The deal will be signed because the de facto international benchmark reference rate called the London Interbank Offered Rate (LIBOR) will no longer work as the benchmark after December 2021.
• The state bank of India highlighted that it will be arranging $100 million linked to SOFR for 5 years.
• The LIBOR will no longer work as the benchmark after December 2021. Thus, the Secured Overnight Financing Rate (SOFR) and Sterling Overnight Interbank Average Rate (SONIA) are the most potential alternatives.
• But only a few swap deals are linked to these alternatives at the international level. Libor is still used extensively especially for loans that are getting matured within the year.

Important takeaways for all competitive exams:

• SBI Chairperson: Dinesh Kumar Khara.
• SBI Headquarters: Mumbai.
• SBI Founded: 1 July 1955.

7. Italy signs International Solar Alliance amended Framework Agreement

• Italy has signed the amended Framework Agreement of the International Solar Alliance (ISA) with India. The framework agreement was signed by the Italian Ambassador to India Vincenzo De Luca. ISA is an alliance of over 121 nations that have been initiated by India.
• The European country signed the ISA framework agreement after an amendment to the Framework Agreement of the ISA entered into force on January 08, 2021, opening its membership to all member states of the UN. The amendments of the ISA framework agreement allows all the member states of the United Nations to join the ISA grouping, including those lying beyond the tropics.

Important takeaways for all competitive exams:

• President of Italy: Sergio Mattarella.
• Capital of Italy: Rome; Currency of Italy: Euro.
• Prime Minister of Italy: Mario Draghi.

Defence News

8. KRAS releases the First batch of MRSAM Missiles

• The Kalyani Rafael Advanced Systems (KRAS), which is a joint venture between the Kalyani Group of India and Rafael Advanced Defence Systems of Israel, have released the first batch of Medium Range Surface to Air Missile (MRSAM) kits.
• The missile was released for the Indian Army and Indian Air Force. The release of the MRSAM Missile also marked the KRAS’ commitment to delivering more than 1000 MRSAM missile kits to India in near future.
• These missile sections will then be sent for further and future integration to Bharat Dynamics Limited (BDL). The Kalyani Group has infused the “State-of-the-art technology with engineering excellence in the company.

Important takeaways for all competitive exams:

Summits and Conferences News

10. 6th India-Brazil-South Africa (IBSA) Women’s Forum held Virtually

Sports News

11. Hashmatullah Shahidi becomes 1st afghan player to score Test double century

• Afghanistan’s Hashmatullah Shahidi became the first batsman from the country to register a double hundred in Test cricket. He got his first double century on Day Two of the second Test against Zimbabwe in Abu Dhabi. He made 200 not out off 443 balls with 21 fours and one six as Afghanistan put up a mammoth 545 for 4 in their first innings.
• Shahidi has played five Tests and 42 ODIs for Afghanistan since making his international debut in an ODI against Kenya. He made his Test debut in Afghanistan’s first-ever Test, against India in Bengaluru in 2018. The 26-year-old left-handed batsman has 347 runs from five Tests and 1155 runs from 42 ODIs to his name thus far.

Important Days

12. Ordnance Factories’ Day in India: 18 March

• The Ordnance Factories’ Day is observed on the 18th of March every year. The production of India’s oldest Ordnance Factory, which is at Cossipore of Kolkata, was started on the 18th of March, 1802. OFB is the 37th largest defence equipment manufacturer in the world, 2nd largest in Asia, and the largest in India.
• The day is celebrated by displaying the rifles, guns, artillery, ammunition etc in exhibitions all over India. The celebrations start with a parade and the exhibition will also display the photographs of various mountaineering expeditions.
• OFB was founded in 1775 and its Headquarters is in Ayudh Bhawan, Kolkata. OFB consists of 41 Ordnance Factories, 9 Training Institutes, 3 Regional Marketing Centres and 5 Regional Controllerates of Safety, which is spread all over India.

Important takeaways for all competitive exams:

• Director-General & Chairman of Ordnance Factories: C S Vishwakarma.
• Headquarters of Ordnance Factory Board: Kolkata, West Bengal.

Obituaries News

13. Tanzanian President John Magufuli passes away

• The President of Tanzania, John Magufuli has passed away following a heart ailment. Popularly nicknamed the “Bulldozer”, Magufuli served as the fifth President of Tanzania from 2015 until his death in 2021.
• He first won the presidential election in October 2015 and was sworn in on 5 November 2015. He was re-elected in 2020.

Important takeaways for all competitive exams:

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19th March 2021 Current Affairs | Current Affairs Today | Daily Current Affairs 2021

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