Goaltide Daily Current Affairs 2021

Nov 03, 2021

Current Affair 1:
Water and Climate Coalition



The Water and Climate Coalition is aimed at strengthening operational capacities at national, regional and global level to address water related sustainable development and climate change adaptation challenges.

 The Coalition focuses on achieving progress in in 2 areas:

  • Catalysing tangible action and activities for water and climate
  • Providing guidance for High Level Policy Development on water and climate

The idea of the Water and Climate Coalition is based on the principles of equality between all members and a lean structure to accelerate the achievement of the SDG 6 goals.

The Water and Climate Coalition was founded by around a dozen of Members, mainly from UN organizations. On the short-term, the group of Founding Members will meet regularly to kick-start the coalition.

The Water and Climate coalition supports the implementation of the UN Water Action Decade through the UN-Water Global Accelerator Framework for SDG 6 with a concrete action mechanism.

Current Affair 2:
Systematic Observations Financing Facility (SOFF)


On Wednesday 3 November, the World Meteorological Organization (WMO), the UN Development Programme (UNDP) and the UN Environment Programme (UNEP) announced a new United Nations Coalition Fund to significantly improve the collection of essential weather and climate data and boost the international response to climate change.

The goal of the Systematic Observations Financing Facility is to strengthen climate adaptation and resilience to respond to the increased frequency, severity and impact of weather and climate events by contributing to improved weather forecasts and climate services.

The Systematic Observations Financing Facility (SOFF) will support countries to generate and exchange basic surface-based observational data critical for improved weather forecasts and climate services.

Current Affair 3:
Community rights (CR) and community forest resource rights (CFRR) titles



Twenty-four villages in Odisha’s Nayagarh district together received 14 community rights (CR) and community forest resource rights (CFRR) titles on November 2, 2021.

These titles were assigned to them under the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 (known as FRA), 2006 as well as the 2012 amendment.

Current Affair 4:
PCA framework revised

Source Link

Prompt Corrective Action (PCA) is a supervisory framework of RBI where it uses various measures/tools to maintain sound financial health of banks. Based on three parameters (once these parameters cross certain level) RBI puts the bank under PCA. And once RBI puts the bank under PCA, then it can take discretionary actions against the bank.

Earlier three parameters were Capital (Capital Adequacy Ratio), Asset Quality (NPA) and Return on Assets (profit). Now the three parameters are Capital (Capital Adequacy Ratio), Asset Quality (NPA) and Leverage (equity capital/total assets of bank). So basically, one of the parameters have been replaced.

Earlier PCA framework was applicable on all Scheduled Commercial Banks except Regional Rural Banks. Now it is applicable on all Scheduled Commercial Banks except Regional Rural Banks, Payment Banks and Small Finance Banks.

Scheduled Commercial Banks include:

(a) Public Sector Banks

(b) Private Sector Banks

(c) Foreign Banks

(d) Regional Rural Banks

(e) Payment Banks

(f) Small Finance Banks

Once RBI puts a bank under PCA framework then what actions RBI can take on the bank?

  1. RBI can put restrictions on Branch expansion, distributing dividends, capping compensation and fees of management and directors.
  2. In extreme cases, banks may be stopped from lending and there can be a cap on lending to specific sectors/entities.
  3. May increase the provisioning requirement for banks
  4. Further, RBI may take steps to bring in new management/Board, appoint consultants for business/ organizational structuring, take steps to change ownership, can also take steps to merge the bank and can supersede the bank board.

Current Affair 5:
Power at Glance in India


Once we will see power installed capacity of various sources:

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