Current Affairs 05th August 2021

1. News : Minervarya Pentali

Source: The Hindu

  • The newly discovered species is endemic to the southern Western Ghats (Kerala and Tamil Nadu).It belongs to the family Dicroglossidae.
  • It is endemic to the Western Ghats in India.
  • This species is also among the smallest known Minervaryan frogs.
  • The species is named after Prof. Deepak Pental in appreciation of his tremendous support and encouragement for setting up of Systematics Lab at University of Delhi.

2. News : Payments bank

Source: The Hindu

  • In order to help provide easy access to investors to participate in public and rights issues by using various payment avenues, SEBI has allowed non-scheduled payments banks which have prior approval of the RBI to carry out activities of investment bankers.
  • It can carry out most banking operations but can’t advance loans or issue credit cards.
  • It can accept demand deposits, offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third-party fund transfers.
  • Basically Payments banks is an Indian new model of banks conceptualised by the Reserve Bank of India. These banks can accept a restricted deposit, which is currently limited to ₹200,000 per customer and may be increased further. These banks cannot issue loans and credit cards
  • Objectives of paymentbanks: widen the spread of payment and financial services to small businesses, low-income households, migrant labour workforce in a secured technology-driven environment.
  • Nachiket Mor committee to study ‘Comprehensive financial services for small businesses and low income households’ suggested the introduction of specialized banks or ‘payments banks’ to cater to the lower-income groups and small businesses.

3. News : Exercise Talisman Sabre

Source: The Hindu

India to participate in Exercise Talisman Sabre’ in 2023. A formal invitation will be made shortly by Australia.

  • It was the largest bilateral combined training activity between the Australian Defence Force (ADF) and the U.S. military
  • The other countries include Canada, Japan, New Zealand, South Korea and U.K.
  • Exercise Talisman Sabre is a biennial exercise.

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