Bank Exam Current Affairs – 22nd and 23rd October 2021

1. Microsoft launches program for AI

  1. In its efforts to support the startup ecosystem in the country, technology giant Microsoft has launched a program for nurturing and scaling startups that are leveraging artificial intelligence (AI).
  2.  Microsoft AI Innovate is a 10-week initiative that will support startups in India leveraging AI technologies, helping them scale operations, drive innovation, and build industry expertise.
  3. Supported by TiE Mumbai, the launch cohort will kickstart in November 2021.

2. Card tokenization

  1. Card tokenization refers to a process that replaces details of a card, such as its number and CVV, used for making a transaction with an encrypted algorithmically generated token.
  2. The token is generated either by the card issuer or the payments network.
  3. This process is expected to secure the sensitive financial data of customers and curb cyber fraud.
  4. Based on the set of guidelines that have been mandated by the RBI, sensitive customer information is to be stored in the form of an encrypted ‘token’ to help secure transactions.
  5. These tokens then allow payments to be processed without disclosing the customer details or allowing the payment intermediaries to store customer data that could breach security and privacy.

3. India tests Abhyas

  1. India successfully flight-tested the indigenously developed High-speed Expendable Aerial Target (HEAT), ABHYAS, from the Integrated Test Range (ITR), Chandipur off the coast of the Bay of Bengal in Odisha.
  2. The flight test was conducted by the Defence Research and Development Organisation (DRDO) at its ITR, Chandipur near here.
  3. The vehicle can be used as an aerial target for the evaluation of various missile systems.

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4. Parambikulam Tiger Conservation

  1. Parambikulam Tiger Conservation Foundation has won the Earth Guardian Award for its efforts in supporting the conservation of tigers and biodiversity.
  2. The award was instituted by NatWest Group India (formerly RBS India) at the 11th edition of the NatWest Group Earth Heroes Awards.
  3. “Biodiversity – a resilient nature is the foundation on which all climate mitigation and adaptation efforts must be raised”, is the theme for the 2021 awards.

5. Alexei Navalny

  1. The European Parliament’s annual human rights honor, the Sakharov Prize for Freedom of Thought, has been awarded to Russian opposition leader Aleksei Navalny for his work to expose corruption and measures to curtail freedoms in Russia.
  2. He has campaigned consistently against the corruption of Vladimir Putin’s regime
  3. He has helped expose abuses & mobilize the support of millions of people across Russia.

6. NITI Aayog launches Atal Innovation Mission Digi-book

  1. NITI Aayog’s Atal Innovation Mission (AIM) has launched “Innovations for You,” which attempts to showcase success stories of Atal Innovation Mission’s Startups in different domains.
  2. These startups have worked to create new, disruptive and innovative products, services, and solutions that can pave a path for a sustainable future.
  3. The first edition of this book is focused on innovations in Health Care.

7. Haryana launches free education

  1. Haryana announced free education for those whose verified family income is less than Rs. 1.80 lakh per annum.
  2. The government wants to ensure that no talented student belonging to a poor family loses a chance to pursue his or her dreams.
  3. Free of cost education will be given to those whose verified family income is less than Rs 1.80 lakh per annum under the state government’s ambitious Parivar Pehchan Patra (family id) scheme

8. RBI new Regulatory Structure

  1. The Reserve Bank of India (RBI) will put in place a four-layered regulatory structure for non-banking financial companies to keep a stricter vigil on the shadow banking sector and minimize risks for the overall financial system.
  2. The detailed set of norms, which will come into force from October 2022, provides for a Scale Based Regulation (SBR) framework that takes into consideration capital requirements, governance standards, prudential regulation, and other aspects of the Non-Banking Financial Companies (NBFCs).

9. G-7 nations on cross-border data use & digital trade

  1. Group of Seven nations agreed on principles to govern cross-border data use and digital trade.
  2. Trade ministers from the G7 reached the agreement at a meeting in London.
  3. The deal sets out a middle ground between highly regulated data protection regimes used in European countries and the more open approach of the United States.

10. India hands over  rail link to Nepal govt

  1. India handed over a 34.9 km long cross-border rail link connecting Jayanagar in Bihar to Kurtha in the Nepal-to-Nepal government.
  2. The handing over ceremony took place in the presence of the Nepal minister for physical Infrastructure and transport Renu Kumari Yadav and the Indian ambassador to Nepal Vinay M. Kwatra.