Read : Current Affairs: 4th March, 2021

Posted on :- 2021-03-06 17:26:20


Current affairs (4TH march)




















  • The 10th Edition of Hurun Global Rich List 2021 was released, which ranked 3228 billionaires from 2,402 companies and 68 countries.


  • The report showed that despite the COVID-19 pandemic, the world added 8 billionaires every week in 2020 and 421 in a year, taking their total number to a record 3,288.


  • The total wealth of all billionaires across the globe surged 32 per cent, an addition of $3.5 trillion, to take their total wealth to $14.7 trillion, during the period under review. The wealth calculations taken into account is as of January 15, 2021.


  • Top three billionaires: Tesla chief Elon Musk bagged the top spot on the Hurun Global Rich List for the first time after adding a massive $151 billion during the year 2020 to take his net worth to $197 billion. com Inc CEO Jeff Bezos ranked second with $189 billion in net worth.


  • Bernard Arnault, the chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury-goods company ranked third with a net worth of $114 billion.


  • India in the list: With 60 Billionaires from the Hurun India Global List 2021, Mumbai became the capital for India’s rich followed by New Delhi (40) & Bengaluru (22).


  • Asia’s richest person and Reliance Industries chairman Mukesh Ambani is ranked eighth on the Hurun Global Rich List 2021. The total wealth of Ambani surged by 24% to $83 billion (approximately Rs 6.09 lakh crore).


  • Apoorva Mehta of Instacard & Nikhil Kamath of Zerodha (both 34 years) became the youngest Indian Billionaires with a net worth of USD 1.7 Billion.


  • Gautam Adani of Adani Group (Global Rank – 48)
  • Shiv Nadar of HCL (Global Rank – 58)
  • Lakshmi N Mittal of ArcelorMittal (Global Rank – 104) Cyrus Poonawalla of Serum (Global Rank – 113)


  • ASIA: Zhong Shanshan (Founder of Chinese Bottle Water Maker – Nongfu Spring) with USD 85 Billion became Asia’s Richest person, followed by Mukesh Ambani. He also broke into the Hurun Global Rich List 2021 for the 1st time with a rank of 7.




  • The Government of India has notified comprehensive amendments to the Insurance Ombudsman Rules, 2017, for better resolution of policyholders’ complaints regarding insurance service deficiencies, in a timely, cost-effective and impartial manner.


  • This will help in facilitating the resolution of the complaints with respect to the deficiencies in insurance services in a cost-effective and impartial manner on time.


  • The Ombudsman mechanism was administered by the Executive Council of Insurers. This has now been renamed as the Council for Insurance Ombudsmen.


  • Earlier, the scope of complaints to Ombudsmen was limited to only disputes, but now it has been enlarged to include deficiencies in service on the part of insurers, agents, brokers and other intermediaries.


  • The insurance brokers have also been brought within the ambit of the Ombudsman mechanism. The Ombudsmen has been empowered to pass awards against insurance brokers as well.


  • To strengthen the timeliness and cost-effectiveness of the mechanism, policyholders will now be enabled for making complaints electronically to the Ombudsman.


  • A complaints management system will be created to enable policyholders to track the status of their complaints online. The rules also provide that, the ombudsman can use video-conferencing to hear the cases.


  • Ombudsman is an official who is appointed to investigate the complaints regarding the service or on an administrative authority.


  • The ombudsman is usually appointed by governments however, the private companies can also appoint them. The Indian government has appointed an ombudsman to resolve the grievances with respect to income tax, banking and insurance.



  • The 11th edition of the QS World University Rankings was released on March 04, 2021. The QS World University Rankings 2021 ranks the top 1,000 universities from around the world, covering 80 different locations.


  • There are 47 new entrants on the list. The Massachusetts Institute of Technology (MIT), the United States has retained its top position as the best university for the ninth year in a row.


  • Stanford University, the United States and the University of Cambridge, United Kingdom are the second and third best University globally in QS World University Rankings 2021.


  • The Indian Institute of Technology, Bombay has emerged as the best institution. It is placed at 172 positions. No institute in India is in the top 100.


  • Indian Institute of Science (185), Indian Institute of Technology, Delhi (193) are the only other universities from India to feature in the top 200.


  • In terms of subject, twelve Indian universities and higher education institutions have made it to the top 100, with three Indian Institutes of Technology (IITs) making it to the top 50 for their respective subject.


  • The 12 universities are IIT Bombay, IIT Delhi, IIT Madras, IIT Kharagpur, IISC Bangalore, IIT Guwahati, IIM Bangalore, IIM Ahmedabad, JNU, Anna University, University of Delhi, and O.P Jindal University


  • IIT Madras ranks 30th for Petroleum Engineering, IIT Bombay ranks 41st and IIT Kharagpur ranks 44th for Minerals and Mining Engineering, and the University of Delhi ranks 50th for Development Studies.


  • The QS World University Rankings by Subject are compiled to help prospective students identify the leading universities in a particular subject.


  • The 2021 QS World University Ranking by Subject cover a total of 51 disciplines, grouped into five broad subject areas, namely: Arts & Humanities; Engineering & Technology; Life Sciences & Medicine; Natural Sciences; and Social Sciences and Management.


  • QS World University Rankings by subject calculate performance based on four parameters academic reputation, employer reputation, research impact (citations per paper) and the productivity of an institution’s research faculty.



  • Bengaluru emerged as the top city on the government’s Ease of Living Index 2020 that was released by Housing and Urban Affairs Minister Hardeep Singh Puri.


  • Pune was second and Ahmedabad was ranked third among 111 cities. A total of 111 cities under the Smart Cities Program, participated in the assessment exercise that was conducted in 2020.


The Ease of Living Index 2020 ranked cities in the following two categories:


  • Million+ populated cities – those with a population of more than a million.
  • Less than Million populated cites – those with a population of less than a million.
  • No city has been included from West Bengal because of the “data challenge”.
  • Million+ category: Bengaluru emerged as the top performer in this category. This was followed by Pune, Ahmedabad, Chennai, Surat, Navi Mumbai, Coimbatore, Vadodara, Indore, and Greater Mumbai respectively.


  • Less than Million category: In this group, Shimla was ranked the highest in ease of living. This was followed by Bhubaneshwar, Silvassa, Kakinada, Salem, Vellore, Gandhinagar, Gurugram, Davangere, and Tiruchirappalli.


  • The EoLI is an assessment tool by the Ministry of Housing & Urban Affairs that evaluates the quality of life and the impact of various initiatives for urban development in the city.


  • It provides a comprehensive understanding of participating cities across India based on the quality of life, the economic ability of a city, and its sustainability and resilience.


  • It also incorporates the residents’ view on the services provided by city administration through a Citizen Perception Survey.




  • The World Bank plans to introduce a $100-million credit guarantee scheme to boost India’s rooftop solar programme, which has not gained enough traction.


  • The scheme will allow micro, small, and medium enterprises (MSMEs) to avail concessional debt financing for setting up rooftop solar units.


  • The World Bank scheme, along with the State Bank of India (SBI) and the MSME ministry to accelerate the adoption of rooftop solar units, will help MSMEs access credit of around $1 billion.


  • The arrangement will be beneficial for the firms that often do not meet the lending criteria of banks and other financial institutions, with their financial woes been exacerbated by the covid-19 pandemic.


  • World Bank Headquarters: Washington, D.C., United States.
  • World Bank Formation: July 1944.
  • World Bank President: David Malpass.




  • In India, March 4 is celebrated as National Security Day (Rashtriya Suraksha Diwas) every year, in the honor of the Indian Security Forces.


  • The day aims to show gratitude to all the security forces, including policemen, para-military forces, commandos, guards, army officers, and other persons involved in security, who sacrifice their life in maintaining the peace and security of the people of the country.


  • History of the day: 4 March also marks the day when the National Security Council (NSC) of India was established, in 1966 by the Ministry of Labour under the Government of India. The first National Security Day (NSD) was held in 1972.


  • National Security Council of India Founded: 19 November 1998.
  • National Security Council of India Headquarters: New Delhi.


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