1) International Day for Biological Diversity: 22 May
•The United Nations celebrates International Day for Biological Diversity on 22 May every year to raise awareness about the issue of a significant reduction in biological diversity due to certain human activities. Biological Diversity comprises a wide variety of plants, animals and microorganisms including genetic differences within each species, for example, between varieties of crops and breeds of livestock.
•This year 2021 the theme is “We’re part of the solution”. The slogan was chosen to be a continuation of the momentum generated last year under the over-arching theme, “Our solutions are in nature”, which served as a reminder that biodiversity remains the answer to several sustainable development challenges.
2) RBI to transfer Rs. 99,122 crore surplus to Central Government for FY21
•The Reserve Bank of India will transfer Rs 99,122 crore surplus to the Central Government for the accounting period of nine months ended March 31, 2021 (July 2020-March 2021). The Contingency Risk Buffer will remain at 5.50%.
•This year RBI has changed its Accounting year from July-June to April-March to coincide with the accounting year of Government. As a result, the accounting year 2020-21 of RBI has only 9 months. It must be noted that every year, RBI transfers its entire surplus which it has earned as profit to Central Government.
3) RBI increases the limit for Full-KYC PPIs to Rs 2 lakh from Rs 1 lakh
•The Reserve Bank of India has increased the maximum amount outstanding in respect of full-KYC PPIs (KYC-compliant PPIs) from Rs. 1 lakh to Rs. 2 lakh. Apart from this, The Reserve Bank of India (RBI) has mandated that all prepaid payment instruments (PPIs) or mobile wallets such as Paytm, PhonePe and Mobikwik are fully KYC-compliant be made interoperable by March 31, 2022.
•The PPI issuers will have to provide interoperability through authorised card networks (for PPIs in the form of cards) and UPI (for PPIs in the form of electronic wallets). Interoperability shall be mandatory on the acceptance side as well. PPIs for Mass Transit Systems (PPI-MTS) shall remain exempted from interoperability. It will be optional for Gift PPI issuers to have the option of interoperability.
RBI has also permitted cash withdrawal from Full-KYC PPIs of Non-Bank PPI Issuers. The condition on such cash withdrawal shall be:
•Maximum limit of Rs. 2,000 per transaction with an overall limit of Rs. 10,000 per month per PPI.
•All cash withdrawal transactions performed using a card/wallet shall be authenticated by an Additional Factor of Authentication (AFA) / PIN;
•RBI has increased the limit of cash withdrawal from Points of Sale (PoS) terminals using debit cards and open system prepaid cards (issued by banks) to Rs 2000 per transaction within an overall monthly limit of Rs. 10,000 across all locations (Tier 1 to 6 centres). Earlier this limit was Rs 1000 for Tier 1 and 2 cities while Rs 2000 for Tier 3 to 6 cities.
4) DRDO develops Covid-19 antibody detection kit ‘DIPCOVAN’
•India’s Defence Research and Development Organisation (DRDO) has developed a Covid-19 antibody detection kit. The DIPCOVAN kit can detect both spikes as well as nucleocapsid proteins of Coronavirus with a high sensitivity of 97%. It has been approved by the Indian Council of Medical Research and has been developed by the Defence Institute of Physiology and Allied Sciences lab of DRDO in association with Delhi’s Vanguard Diagnostics Pvt Ltd.
5) Microsoft to retire iconic Internet Explorer on 15 June 2022
•Tech-giant Microsoft has decided to retire its iconic Internet Explorer (IE) browser, with effect from 15 June 2022, after more than 25 years of its launch. The Internet Explorer (IE) browser was launched in 1995. Microsoft recommends its users shift to Microsoft Edge (2015) before June 15, 2022, for a faster, more secure and more modern browsing experience.
6) ITR filing deadline for FY21 extended by two months to September 30
•The Central Board of Direct Taxes (CBDT) has extended the due date for filing income tax returns for assessment year (AY) 2021-22, for individuals, by two months, to September 30, 2021. Earlier the deadline was July 31, 2021.
•The decision to extend timelines for compliances under the Income-tax Act 1961 has been taken to provide relief to taxpayers due to the Covid pandemic. The government has also extended the due date of Income Tax Returns filing for companies for Assessment Year 2021-2022 from October 31 to November 30, 2021.
7) Bihar govt launches ‘HIT Covid App’ to ensure regular monitoring
•Bihar government has launched ‘HIT Covid App’ to ensure regular monitoring and tracking of those Covid-19 patients, who are in home isolation across the state. HIT stands for home isolation tracks. Chief Minister Nitish Kumar said the app will help the health workers in regular monitoring of home-isolated patients.
•Health workers will visit the patients at home every day and feed data in the app after measuring their temperature and oxygen level. These data will be monitored at the district level. If the oxygen level is below 94, the patient will be shifted to the nearby dedicated Covid health centres for proper treatment.
8) IDBI Bank launches digital loan processing system
•IDBI Bank announced the launch of its fully digitized loan processing system, offering over 50 products to MSME and the agriculture sector. The Loan Processing System (LPS) for MSME and Agri products seamlessly integrate with data fintech, bureau validations, document storage, account management and customer notifications among others.
•These features of the fully digitised and automated loan processing system are further aimed at providing a superior tech-enabled banking experience to the bank’s MSME & Agri customers. The platform is designed to incorporate knock-off criteria & credit policy parameters for superior underwriting standards.
9) Sreejesh appointed FIH Athletes’ Committee member
•Star India hockey team goalkeeper PR Sreejesh was re-appointed as a member of the International Hockey Federation (FIH) Athletes’ Committee during the virtual meeting of the world body’s Executive Board. He has been a member of the panel since 2017. The experienced Sreejesh, who has led the Indian team in the past, was one of the four new members appointed by the EB which met two days before the 47th FIH Congress, which will also be held online.
•The EB confirmed the appointment of four new members for the Athletes’ Committee. Sreejesh Parattu (IND), Marlena Rybacha (POL), Mohamed Mea (RSA) and Matt Swann (AUS) are now joining the Committee. Steve Horgan (USA), the new chair of the FIH Rules Committee, succeeding David Collier.
