Today Top Current Affairs 7 January 2021
Daily Current Affairs 7 January 2021: This article consists of the latest top current affairs for 7 January 2021 that are essential for all competitive exams such as Bank, SSC, IBPS, SBI exams. You can also take our Current Affairs Quiz after studying our daily current affairs.
Defence
MRSAM air defence system tested
India has successfully tested a Medium-Range Surface-to-Air Missile (MRSAM) defence system in the collection of Israel.
- The DRDO and Israel Aerospace Industries (IAI) have developed this MRSAM missile defence system in order to tackle airstrikes by enemy countries.
- MRSAM missile is an air missile and it has a range of 50 to 70 km. the missile provides ultimate protection against a type of aerial platforms.
International
Japan will launch the wood-based satellite by 2023
Japan is working on the world’s first wood-based space satellite’s development.
- The main purpose of this initiative is to resolve the increasing problem of space debris or junk.
- Sumitomo Forestry company is developing this satellite project with the help of Kyoto University.
- Japan will launch its first satellite in the year 2023.
- The wooden satellites can be burnt easily and it will not be harmful to leaving junk behind.
Banking
RBI launches Legal Entity Identifier (LEI) for NEFT, RTGS
RBI has begun a new Entity named Legal Entity Identifier (LEI). it will be for Rs 50 crore and above transactions which are being undertaken by Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).
- The Legal Entity Identifier (LEI) will be a 20-digit number and it will be used for identifying parties to financial transactions worldwide.
- The notification will come into existence from 1st April 2021.
Shivalik Bank as 1st urban co-operative bank to transition to SFB
Shivalik Mercantile Co-operative Bank (SMCB) has been as the 1st Indian Bank who gets the licence from RBI in order to function as a Small Finance Bank (SFB).
- On 6th January, RBI has given the commercial banking license to SMC Bank for the transition to an SFB.
- From April 2021, The Shivalik Small Finance Bank (SSFB) will begin its operations.
World Bank estimated India’s GDP to Contract By 9.6%
As per the estimation of the World Bank, The GDP of India will be contracted by 9.6% for FY2020-21. it is said in its Global Economic Prospects report.
- Also, the World Bank says that in 2021, The GDP will reach 5.4%.
- Along with it, the World Bank estimated that the global economy will expand by 4% in the year 2021.
Obituary
73 years old hockey player Michael Kindo died
The winner of World Cup in hockey and Olympic medallist Michael Kondo has taken his last breath at the age of 73. he was suffering from age-related ailments.
- Michael also served as the member of the Indian teams. in 1975, the Indian team won hockey World Cup in Kuala Lumpur and in the year 1972, the team got Olympics bronze in Munich.
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Q.3 What is the best way to prepare current affairs 2021?
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