Daily Current Affairs for UPSC Civil Services Exam – 22 May 2021

Daily Current Affairs for UPSC Civil Services Exam – 22 May 2021

In Today’s News:

  1. RBI to transfer the surplus to the central government
  2. Amphotericin B

1. RBI to transfer the surplus to central government

News Summary

The Reserve Bank of India will transfer a surplus of Rs.99,122 crores to the Central Government.

Prelims GS – Economic Development

Section 47 – Allocation of surplus profits:
  • The Reserve Bank of India (RBI) transfers its surplus profits to the Government of India in terms of the provisions of Section 47 of the Reserve Bank of India Act, 1934 which is as follows:
  • “After making provision for bad and doubtful debts, depreciation in assets, contributions to staff and superannuation funds and for all matters for which provision is to be made by or under this Act or which are usually provided for by bankers, the balance of the profits shall be paid to the Central Government.”

Click here to view the official RBI Act.

2. Amphotericin B

News Summary

Union Ministry of Health along with the Dept. of Pharmaceuticals and Ministry of External Affairs (MEA) are making proactive efforts to significantly ramping up domestic production of Amphotericin-B drug.

Prelims GS – Science & Technology

Amphotericin B:
  • In recent days, several States and UTs have reported an increasing number of patients suffering from COVID complications in the form of Mucormycosis, popularly known as Black Fungus.
  • Amphotericin B is an anti-fungal drug.
  • It is used for the treatment of Black Fungus disease.

Click here to view the official PIB release.

 

 

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