Current Affairs for SSC CGL Exams - 16 March 2021

SSC CGL Current Affairs

Current Affairs for SSC CGL Exams - 16 March 2021

::NATIONAL::

Inter Parliamentary Union (IPU) President Duarte Pacheco visited India

Inter Parliamentary Union President Duarte Pacheco to attend felicitation ceremony and address Members under the auspices of the Indian Parliamentary Group (IPG) in Central Hall of Parliament House on 16 March.
Pacheco is on a weeklong visit to India on the invitation of Indian Parliament. Pacheco called on LokSabha Speaker Om Birla and witnessed the proceedings of the Upper House.
Inter-Parliamentary Union (IPU) formed in 1889, is one of the oldest and largest international Parliamentary body consisting of more than 179 Members. IPU espouses for the cause of promoting democracy across the world and take up issues of international importance, such as, Sustainable Development Goals (SDGs), Climate Change, Gender Equality, etc.
India, since its independence, has always been an active Member of Inter Parliamentary Union (IPU).
In the past, G.S. Dhilon, the then Speaker of LokSabha and Dr. Smt. NajmaHeptulla, the then Deputy Chairman of RajyaSabha had served as the Presidents of IPU.

::INTERNATIONAL::

The 63rd Grammy Awards gave the fans the much-needed dose of live music as performers and nominees took the stage in Los Angeles.
The venue for the 63rd Grammy Awards was Los Angeles Convention Center, and the traditional venue of the awards — the Staples Center — was the backdrop. Trevor Noah hosted the ceremony.
Many of the awards for the night were given out by independent club owners who have been supporting the music industry for decades but were badly hot by the COVID induced lockdown in 2020.
Some of the stand out performances of the night included – Cardi B, Meghan Thee Stallion, Taylor Swift, Post Malone, BTS, Miranda Lambert, Billie Eilish, Harry Styles among others.
Beyonce created history at the 63rd Grammy Awards as she became the first female artist to win 28 Grammys. She won two awards tonight – best rap performance with Meghan Thee Stallion for Savage and best R&B performance for Black Parade.
DuaLipa, Taylor Swift, Harry Styles, Billie Eilish won big at the 63rd Grammy Awards.

::ECONOMY::

Finance Minister introduced bill to increase FDI limit in insurance from 49% to 74%

The Parliament has passed the Insurance (Amendment) Bill, 2021 with the LokSabha approving it today. The RajyaSabha has already passed the legislation.
The Bill seeks to amend the Insurance Act, 1938 which will increase the ceiling limit of foreign investment allowed in Indian insurance companies.
The Bill provides to increase the foreign direct investment limit from existing 49 percent to 74 percent. It also has a provision for removal of restrictions on ownership and control of insurance companies.
Speaking on the Bill, Finance Minister NirmalaSitharaman said that the insurance sector requires a huge and long term investment as it is a capital intensive sector.
She said, raising the ceiling limit to 49 per cent in the year 2015 has resulted foreign direct investment of 26 thousand crore rupees in the past five years and assets under management registered a growth of 76 per cent.
She said, the government is committed to provide insurance cover to all the people and more resources will grow the number of insurers.
She assured that policy holders’ fund will only be invested in the country. Countering the oppositions’ accusation of privatization of LIC, the Minister said that this Bill has nothing to do with the LIC in specific but for the entire insurance sector.

::SCIENCE AND TECH::

US India Artificial Intelligence (USIAI) Initiative launched

Secretary, Department of Science & Technology, Prof Ashutosh Sharma, emphasised the necessity to scale up the S&T relationship between India and the United States to solve problems of both countries and overcome barriers for growth at the launch of the Indo-U.S. Science and Technology Forum’s U.S. India Artificial Intelligence (USIAI) Initiative.
“Indo-US relationship in the field of S&T is very old collaborations have resulted in great benefits for both the countries. We need to further scale it up in various fields, and Artificial Intelligence (AI) can play a major role in the future. We have identified the barriers for growth in India that could be useful for the United States too,” Professor Sharma pointed out at the curtain raiser of the launch ceremony organized by Indo-U.S. Science and Technology Forum (IUSSTF) on March 17, 2021.
Speaking online at the launch of the initiative of IUSSTF, a bilateral organization funded by the Department of Science & Technology (DST), Governments of India, and the U.S. Department of States, he also said that research, technology in artificial intelligence is being promoted and implemented in the country through a network of 25 technology hubs working as a triple helix set up under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). He also pointed out the recent policies to liberalise India’s geospatial policies.
IUSSTF’s USIAI Initiative focuses on AI cooperation in critical areas that are priorities for both countries. USIAI will serve as a platform to discuss opportunities, challenges, and barriers for bilateral AI R&D collaboration, enable AI innovation, help share ideas for developing an AI workforce, and recommend modes and mechanisms for catalyzing partnerships.
Jonathan Margolis, Acting Deputy Assistant Secretary, U.S. Bureau of Oceans & International Environmental & Scientific Affairs, U.S. Department of State, said on the occasion that collaboration between India and United States is based on shared values of openness, transparency, and reciprocity and encourages innovation that will benefit both countries. “The US-India strategic partnership can be strengthened by focusing on AI cooperation in critical areas that are priorities for both countries,” he added.
“Two large democracies of the world can do wonders by creating synergies and collaboration, and the time is right to launch such initiative. We are looking forward for more research and high-impact collaboration to boost both the economies, create jobs, and bring prosperity,” Dr. Sethuraman “Panch” Panchanathan, Director, National Science Foundation (NSF), pointed out.

::SPORTS::

IND vs ENG Third T20: India hope to continue winning streak

India will look forward to continue its winning spree as they face England in the third T20 match at the NarendraModi Stadium in Ahmedabad.
Powered by a fearless half-century on debut by IshanKishan India made a roaring comeback in the second T20 and defeated England by seven wickets to level the series.
However, India need to iron out some issues at the top of the order as KL Rahul failed to fire in both games so far. Rahul who scored one run in two matches, may get replaced by vice-captain Rohit Sharma at the top of the batting order.