Daily Current Affairs 31st August 2021 Page 1 of 19 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Daily Current Affairs 31st August 2021 Current Affairs Today 31st August 2021 CURRENT AFFAIRS: IMPORTANT DAYS International Day for People of African Descent – observed on Aug 31 • The International Day for People of African Descent will be celebrated for the first time on 31 August 2021. • Through this Observance the United Nations aims to promote the extraordinary contributions of the African diaspora around the world and to eliminate all forms of discrimination against people of African descent. • International days reflect the values that society shares. • All human beings are born free and equal in dignity and rights and have the potential to contribute constructively to the development and well-being of their societies. • Any doctrine of racial superiority is scientifically false, morally condemnable, socially unjust, and dangerous and must be rejected, together with theories that attempt to determine the existence of separate human races. CURRENT AFFAIRS: NATIONAL NEWS PFRDA enhances the entry age in National Pension System (NPS) to 70 years • Making the National Pension System (NPS) more attractive for subscribers joining it after 65 years of age, the PFRDA has permitted them to allocate up to 50 per cent of the funds in equity, besides easing the exit norms. • The Pension Fund Regulatory and Development Authority (PFRDA) has revised the guidelines on entry and exit following an increase in the maximum age for joining the NPS from 65 year to 70 years of age. • The entry age for NPS has been revised to 18-70 years from 18-65 years. • Any Indian citizen and Overseas Citizen of India (OCI) in the age group of 65-70 years can also join NPS and continue up to the age of 75 years, according to a PFRDA circular on the revised guidelines. Page 2 of 19 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Daily Current Affairs 31st August 2021 • It added that those subscribers who have closed their NPS accounts have also been permitted to open a new account as per increased age eligibility norms. • The maximum equity exposure, however, will be only 15 per cent if subscribers joining NPS beyond the age of 65 years decide to invest under the default 'Auto Choice'. About National Pension System: • National Pension System Trust is a specialised division of Pension Fund Regulatory and Development Authority which is under the jurisdiction of Ministry of Finance of the Government of India. • The National Pension System is a voluntary defined contribution pension system in India. Benefits of NPS: • It is voluntary - A Subscriber can contribute at any point of time in a Financial Year and also change the amount he wants to set aside and save every year. • It is simple - Subscriber is required to open an account with any one of the POPs (Point of Presence) or through eNPS (https://enps.nsdl.com/eNPS/). • It is flexible - Subscribers can choose their own investment options and pension fund and see their money grow. • It is portable - Subscribers can operate their account from anywhere, even if they change the city and/or employment. • It is regulated - NPS is regulated by PFRDA, with transparent investment norms and regular monitoring and performance review of fund managers by NPS Trust. VP M Venkaiah Naidu to initiate digital quiz contest ‘Amrit Mahotsav With Khadi’ • Vice President M Venkaiah Naidu will launch digital quiz contest called Amrit Mahotsav With Khadi in New Delhi. • The Quiz has been designed by Khadi and Village Industries Commission to celebrate Azadi ka Amrit Mahotsav. • The Quiz Contest seeks to connect the public with the Indian Freedom Struggle, the sacrifices of freedom fighters and the legacy of Khadi since the Pre-Independence era. Page 3 of 19 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Daily Current Affairs 31st August 2021 • The Quiz contest will run for 15 days, with 5 questions to be placed across all digital platforms of KVIC every day. • To participate in the quiz, one needs to visit the website www.kviconline.gov.in. • The participants will be required to answer all five questions within 100 seconds. • The quiz will start at 11 AM every day and will be accessible for the next 12 hours. CURRENT AFFAIRS: BUSINESS NEWS Amazon India introduces Karigar Mela in partnership with Tribes India • Amazon India introduced the launch of Karigar Mela in partnership with Tribes India, whereby the e-commerce platform will characteristic a devoted storefront for conventional tribal and native Indian handicrafts. • As a part of the initiative, prospects will be capable to entry and store from a number of over 1.2 lakh distinctive conventional tribal and native Indian handicrafts and handloom choices. • Among the distinctive artwork types that might be out there in merchandise listed for buy as a part of Karigar Mela embrace Bidri, Dhokra, Ikkat, Patachitra, blue artwork pottery, and so on. • As a part of the Karigar Mela initiative, Karigar sellers will even profit from a 100% Promoting on Amazon (SoA) charge waiver for 2 weeks from August 30-September 12. • The long-term partnership of Tribal Cooperative Advertising and marketing Improvement Federation of India (TRIFED) and Amazon helps improve visibility for native merchandise by bringing the choices to the forefront. About Amazon.com: • Amazon.com, Inc. is an American multinational conglomerate which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. • It is one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook. • CEO: Andy Jassy • Founder: Jeff Bezos Page 4 of 19 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Daily Current Affairs 31st August 2021 CURRENT AFFAIRS: BANKING NEWS RuPay introduced #FollowPaymentDistancing campaign to promote and encourage contactless payments • RuPay has launched a strategic campaign to promote contactless payments, National Payments Corporation of India (NPCI). • The campaign titled #FollowPaymentDistancing asks consumers to start ‘payment distancing’ and switch to contactless digital payments with RuPay Contactless Cards. • While it emphasises ‘payment distancing’ is a key measure, the campaign also captures all safety norms for social distancing. • RuPay Contactless cards show the synergy between technology and innovation with multiple unique features. • The campaign tries to persuade people to pay safely and timely from a distance. • #FollowPaymentDistancing is running on social media platforms and digital channels. • The campaign features multiple digital films that revolve around the idea of payment distancing with RuPay Contactless, portrayed in different everyday situations. • It wants to communicate to the audience, both merchants. About RuPay: • RuPay is an Indian multinational financial services and payment service system, conceived and launched by the National Payments Corporation of India on 26 March 2012. • It was created to fulfil the Reserve Bank of India's vision of establishing a domestic, open and multilateral system of payments. PhonePe bags direct broking licence from IRDAI • Leading digital payments and financial services fintech PhonePe received an insurance broking license from Insurance Regulatory and Development Authority of India (IRDAI). • Last year, PhonePe entered the insurtech sector with a limited insurance 'corporate agent' license. • This confined the fintech company to partner with only three insurance companies per category i.e. health, life and general. Page 5 of 19 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Daily Current Affairs 31st August 2021 • This 'direct broking' license that PhonePe received will allow it to distribute insurance products from all insurance companies across India. • It can now offer personalised product recommendations to its customer base as well. • The company stated that it can now offer a diverse portfolio of insurance products for Indian consumers. About PhonePe: • PhonePe is an Indian digital payments and financial services company headquartered in Bangalore, India. • PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. • The PhonePe app, based on the Unified Payments Interface, went live in August 2016. • PhonePe is 100% safe and secure. • It is powered by Yes Bank. • All payments happen over secure banking networks and the app does not store any user data or passwords. • All you need to do for every transaction is enter your MPIN. • Parent organization: Flipkart • CEO: Sameer Nigam • Headquarters: Bengaluru IDBI Bank now to divest its entire 19.18% stake in ARCIL • IDBI Bank stated its board has okayed a proposal to divest its entire stake of over 19 per cent in ARCIL. • The decision was taken at a meeting of the board of directors. • The board has approved the proposal for sale of IDBI Bank's entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18 per cent of the total equity share capital of Asset Reconstruction Company (India) Ltd (ARCIL). • In June this year, IDBI Bank had invited bids from interested parties for the takeover of its stake in the asset reconstruction company. Page 6 of 19 Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Daily Current Affairs 31st August 2021 • Incorporated in 2002, ARCIL is owned by SBI, IDBI, ICICI and PNB, besides strategic foreign investors such as Avenue Indian Resurgence Pte Ltd.