Home Daily Current Affairs May 08, 2021

May 08, 2021: Current affairs for UPSC/State PSC

This section contains daily current affairs taken from all major news papers and magazines like - The Hindu, Indian Express, PIB, Live Mint, RSTV etc.

These current affairs are written in a easy to remember format and are useful for competitive exams like - UPSC Civil Services, UPPSC, BPSC, MPPPSC, State PSCs and other competitive examinations.

National Human Rights Commission (NHRC)

The National Human Rights Commission issued an advisory to the Centre and States on ensuring rights during the second wave of the pandemic, stating that gaps were "apparent in the system related to patients' access to life-saving healthcare".

The advisory said all health facilities treating COVID-19 patients should display a "COVID charter of patients rights".

Read More: NHRC


International Conference on Rural Transformation: From Natural to Cultural

The "International Conference on Rural Transformation: From Natural to Cultural" has been organized by Center for Rural Development and Innovative Sustainable Technology (CRDIST), Indian Institute of Technology (IIT) Kharagpur and is an online conference being held on May 5 and May 6 2021.

The Van Dhan tribal start-ups programme or Van Dhan Yojana isa component of the the "Mechanism for Marketing of Minor Forest Produce (MFP) through Minimum Support Price (MSP) & Development of Value Chain for MFP" Scheme.

Art & Culture

Pradhan Mantri Van Dhan Yojana (PM-VDY)

Pradhan Mantri Van Dhan Yojana which was launched in 2018 by the Ministry of Tribal Affairs and Tribal Cooperative Marketing Development Federation of India (TRIFED) with an intention to improve the tribal income through value addition of tribal products.

It is a component of "MSP for MFP Scheme" - The "Mechanism for Marketing of Minor Forest Produce (MFP) through Minimum Support Price (MSP) & Development of Value Chain for MFP".

Read More: Pradhan Mantri Van Dhan Yojana

Gov. Schemes

National Financial Reporting Authority (NFRA)

National Financial Reporting Authority (NFRA) is in the process of creating a verified and accurate database of companies and auditors that come under the regulatory ambit of NFRA.

The National Financial Reporting Authority is an independent regulatory body set up under Section 132 of the Companies Act to oversee compliance with Accounting and Auditing Standards by companies that can be described as Public Interest Entities (PIEs).

The Public Interest Entities (PIEs) includes all listed companies, and large unlisted companies.

NFRA came into existence in October 2018 and is responsible for recommending accounting and auditing policies and standards in the country, undertaking investigations, and imposing sanctions against defaulting auditors and audit firms in the form of monetary penalties and debarment from practice for up to 10 years.

NFRA consists of one chairman, three full-time members and one secretary.

Due to notification of NFRA, India is now eligible for membership of International Forum of Independent Audit Regulators (IFIAR).

Institute of Chartered Accountants of India (ICAI) however, is not open to the establishment of such an authority as it fears reduction in its own powers.

The Centre has appointed former IAS officer Rangachari Sridharan as chairperson of NFRA.

Gov. Schemes

European Investment Bank (EIB)

The Government of India (GoI) and European Investment Bank (EIB) signed the finance contract for second tranche of Euro 150 million for Pune Metro Rail project.

EIB had approved the total loan of Euro 600 million to fund the Pune Metro Rail project.

The Maharashtra Metro Rail Corporation Ltd. (MAHAMETRO) is the implementing agency for this project.

Read More: European Investment Bank (EIB)

International Relations