SEBI fines Reliance Industries and Managing Director Mukesh Ambani

The Securities & Exchange Board of India (SEBI) fined Reliance Industries and Managing Director Mukesh Ambani for carrying out manipulative trade in Reliance Petroleum Ltd.

SEBI imposed INR 25 crores on Reliance Industries and INR 15 crores on its Managing Director Mukesh Ambani.

The fine was imposed on Reliance India Limited because the company violated the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP).

Quick Fact: Dhirubhai Ambani founded Reliance Industries Ltd on 8 May 1973.

2.International Affairs

Argentina becomes the largest Latin American country to legalize abortion

Argentina has become the largest Latin American country to legalize abortion up to the 14th week of pregnancy.

The new abortion laws of Argentina are considered historic as before the bill was passed, abortions were permitted only in cases of rape.

Before the new law, women and girls were forced to turn towards unsafe and illegal procedures making unsafe methods the leading cause of maternal mortality.

Quick Fact: Alberto Fernandez is the current President of Argentina.

3.Science and Technology

ISRO to launch first satellite developed completely by Brazil’s space agency

ISRO is all set to launch the first satellite completely developed in Brazil named ‘Amazonia-1’ from Satish Dhawan Space Centre.

The satellite was developed by the National Institute for Space Research (INPE).

Amazonia-1 is a Sun-synchronous (solar) orbiting satellite that will help monitor the ecosystem of the Amazon rainforest.

4.National Affairs

Government launches Indian SARS-CoV-2 Genomic Consortia (INSACOG)

The Department of Biotechnology (DBT) along with the MoH&FW, ICMR, and CSIR has launched Indian SARS-CoV-2 Genomic Consortia (INSACOG).

The consortium will monitor the genomic variations in the new variant of SARS-CoV-2 regularly through a multi-laboratory network.

INSACOG will have a high-level Inter-Ministerial Steering Committee which will provide guidance and oversight to the consortium.

Quick Fact: The full form of CSIR is ‘Council of Scientific and Industrial Research’.

5.India and the World

ADB and India sign USD 10 million PRF to support horticulture in HP

The Asian Development Bank (ADB) and the Government of India have signed a USD 10 million Project Readiness Financing (PRF).

The agreement aims to help finance piloting activities and expanding horticulture production in Himachal Pradesh.

The PRF will ensure prior testing of new production tech and marketing systems so that the ensuing project is cost-effective and timely completed.

Quick Fact: The Asian Development Bank was founded on 19 December 1966.

6.Person in News

Legendary Music Director Shantanu Mohapatra passes away

Legendary Odia Musician Shantanu Mohapatra who worked with Lata Mangeshkar, Manna Dey, and Md Raffi, breathed his last at the age of 84.

Mohapatra composed music for hundreds of Odia films and Jatra (opera) shows and was the first to work in Hindi, Bengali, Assamese, and Telugu film industries. 

Mohapatra retired as the Director of Odisha Mining Corporation and received the Odisha Film Critic Award for his contribution to Odia music.


IFSCA becomes an Associate member of  IOSCO

The International Financial Services Centres Authority (IFSCA) has become an Associate Member of the International Organization of Securities Commissions (IOSCO).

IOSCO is the international organisation of World’s securities regulators and the global standard-setter for the securities sector.

IFSCA will get the platform to exchange information at the global level and regional level on areas of common interests.

Quick Fact: IOSCO is headquartered in Madrid, Spain.

8.National Affairs

SII’s Covidshield vaccine approved for emergency-use in India

Serum Institute of India’s (SII) Covidsheild vaccine has been approved by DCGI for restricted emergency use in India.

The Covidshield vaccine is developed by the University of Oxford and British Pharma AstraZeneca.

The vaccine is to be made and marketed by SII in India with two full doses of Covidshield to be administered to each individual.

Quick Fact: The full form of DCGI is ‘Drug Controller General of India’.