Daily GK Update- 31st Jan, 2022

 

NATIONAL UPDATES:

 

1. Economic Survey 2022: Finance Minister, Nirmala Sitharaman has presented Economic Survey 2021-22 in the Parliament on 31st January 2022. The pre-budget Economic Survey, which is tabled in Parliament ahead of the Union Budget to present the state of the economy and suggest policy prescriptions. The pre-Budget Economic Survey is authored by a team led by Chief Economic Advisor (CEA). Days before the presentation, the Centre appointed economist V Anantha Nageswaran as the new CEA.

What is the Economic Survey?

(1) Economic Survey is an annual document of the Ministry of Finance. It reviews the economic progress of the country and issues in the last 12 months.

(2) The survey provides information related to the performance of key developmental schemes launched by the government. The document also explains the performance of major government policies and their impact.

(3) The Economic Survey discusses major fiscal developments, macroeconomic factors, inflation, and other economic factors. The document also highlights the impact of agriculture, climate change, and employment on the economy of the country.

(4) The 1st Economic Survey was tabled in 1950-51. However, till the year 1964, it was presented along with the budget.

Here are the key highlights from the Economic Survey 2021-22:

1)      Indian economy is estimated to grow by 9.2 per cent in real terms in 2021-22 (as per first advanced estimates) subsequent to a contraction of 7.3 per cent in 2020-21.

2)      GDP is projected to grow by 8- 8.5 per cent in real terms in 2022-23.

3)      The revenue receipts from the Central Government (April to November 2021) have gone up by 67.2 per cent (YoY) as against the expected growth of 9.6 per cent in the 2021-22 Budget Estimates (over 2020-21 Provisional Actuals).

4)      Gross Tax Revenue registers a growth of over 50 per cent during April to November 2021 in YoY terms.  This performance is strong compared to pre-pandemic levels of 2019-2020 also.

5)      Foreign Exchange Reserves crossed US$ 600 billion in the first half of 2021-22 and touched the US $ 633.6 billion as of December 31, 2021.

6)      As of end-November 2021, India was the fourth-largest forex reserves holder in the world after China, Japan and Switzerland.

7)      Repo rate was maintained at 4 per cent in 2021-22.

8)      RBI undertook various measures such as G-Sec Acquisition Programme and Special Long-Term Repo Operations to provide further liquidity.

9)      Rs. 89,066 crores were raised via 75 Initial Public Offering (IPO) issues in April-November 2021, which is much higher than in any year in the last decade.

10)  The average headline CPI-Combined inflation moderated to 5.2 per cent in 2021-22 (April-December) from 6.6 per cent in the corresponding period of 2020-21.

11)  Food inflation averaged at a low of 2.9 per cent in 2021-22 (April to December) as against 9.1 per cent in the corresponding period last year.

12)  India’s overall score on the NITI Aayog SDG India Index and Dashboard improved to 66 in 2020-21 from 60 in 2019-20 and 57 in 2018-19.

13)  The number of Front Runners (scoring 65-99) increased to 22 States and UTs in 2020-21 from 10 in 2019-20.

14)  The Agriculture sector experienced buoyant growth in past two years, accounting for a sizeable 18.8% (2021-22) in Gross Value Added (GVA) of the country registering a growth of 3.6% in 2020-21 and 3.9% in 2021-22.

15)  Capital expenditure for the Indian railways has increased to Rs. 155,181 crores in 2020-21 from an average annual of Rs. 45,980 crores during 2009-14 and it has been budgeted to further increase to Rs. 215,058 crores in 2021-22 – a five times increase in comparison to the 2014 level.

16)  The extent of road construction per day increased substantially in 2020-21 to 36.5 Kms per day from 28 Kms per day in 2019-20 – a rise of 30.4 per cent.

17)  India has become 3rd largest start-up ecosystem in the world after US and China. The number of new recognized start-ups increased to over 14000 in 2021-22 from 733 in 2016-17.

18)  44 Indian start-ups have achieved unicorn status in 2021 taking the overall tally of unicorns to 83, most of which are in the services sector.

 

2. India tie-up with Israel to convert 150 villages into ‘Villages of Excellence’: The Government of India has joined hands with the Government of Israel to create 150 ‘Villages of Excellence’ in 12 States of the country, to help farmers to adopt the latest technology in the farm sector. Israel would provide Technical assistance and other expertise to make agriculture a more profitable business. The 150 villages that are located around CoEs will be converted into ‘Villages of Excellence.’ Out of which, 75 villages are being taken up in the first year to commemorate the 75th year of India’s independence. Already, the Israeli government has established 29 Centres of Excellence (CoEs) in 12 states.

Note: Israel President: Isaac Herzog; Israel Capital: Jerusalem; Israel Prime minister: Naftali Bennett; Israel Currency: Israeli Shekel.

 

3. Meta tie-up with FICCI to support 5 lakh women-owned SMBs across India: Social media giant Meta has partnered with industry body the Federation of Indian Chambers of Commerce & Industry (FICCI) to support five lakh women-led small businesses across India. Meta will undertake this initiative under its #SheMeansBusiness programme, in partnership with FICCI’s ‘Empowering the Greater 50%’ initiative. The initiative will create a supportive ecosystem for women and inspire them to become contributors to the overall development of the country.

Meta will be extending support through three of its initiatives:

(1) Grow your Business Hub: To provide the necessary information, tools and resources to MSMEs;

(2) Commerce Partners Programme: To help businesses go digital and D2C using technology;

(3) Facebook Business Coach: To train women through an educational chatbot tool on WhatsApp.

Note: Meta CEO: Mark Zuckerberg; Meta Headquarters: California, United States;

FICCI President: Sanjiv Mehta; FICCI Founded: 1927; FICCI Headquarters: New Delhi; FICCI Secretary-General: Dilip Chenoy.

 

4. Maharashtra has highest number of SC entrepreneurs: Maharashtra has topped India’s list in the number of micro, small and medium enterprises (MSME) owned by entrepreneurs from the Scheduled Castes with as many as 96,805 enterprises. Tamil Nadu with 42,997 enterprises and Rajasthan with 38,517 units occupy the second and third slots, according to the data furnished by the Office of the Development Commissioner in the Union Ministry of MSME.

The fourth, fifth and sixth slots belong to Uttar Pradesh (36,913 units), Karnataka (28,803 enterprises) and Punjab (24,503 units) respectively. Generally, the proportion of enterprises owned by Scheduled Caste entrepreneurs in the overall national tally of MSMEs is 6%.

 

5. A book titled “Fearless Governance” authored by Kiran Bedi: The book titled ‘Fearless Governance’ authored by Dr Kiran Bedi has been released. She is the former Lt Governor of Puducherry and IPS (retd). This book is based on the ground realities of nearly five years of service of Dr Bedi as Lt. Governor of Puducherry and her vast experience of 40 years in the Indian Police Service. The author demonstrates the right practises of responsible governance. She brought about team spirit, collaboration, financial prudence, effective policing, bonding in services and decision making through fearless leadership. ‘Fearless Governance’ is a book to read, see, hear and feel for good governance and leadership.

 

INTERNATIONAL UPDATES:

 

1. Xiomara Castro sworn in as first female President of Honduras: In Honduras, the Freedom and Refoundation Party (Libre) member Xiomara Castro has been sworn in as the first female President of the country. The 62-year-old Castro replaces President Juan Orlando Hernández, as 56th President of Honduras. Hernández has held the position for eight years from 27 January 2014 to 27 January 2022. Castro announced part of her cabinet Thursday, with her son Hector Zelaya as private secretary and Jose Manuel Zelaya — her husband’s nephew — as defence minister. The oath was sworn before Judge Karla Romero, flanked by Castro’s choice of Congress president, Luis Redondo, who draped the presidential sash over his new boss before a crowd of some 29,000. The guests included US Vice President Kamala Harris, King Felipe VI of Spain and Taiwan Vice President William Lai.

Note: Honduras Capital: Tegucigalpa; Currency: Honduran lempira; Continent: North America.

 

OTHER UPDATES:

 

SPORTS

 

1. Australian Open 2022: Rafael Nadal beats Daniil Medvedev: Rafael Nadal (Spain) has defeated Daniill Medvedev (Russia) 2-6,6-7,6-4,6-4,7-5 to win the Men’s Singles title at the Australian Open 2022. This is his 21st Major title, becoming the first male player to do so. In women’s tennis, Margaret Court (Australian) has 24 singles majors, an all-time record. In women’s, World Number 1 Ashleigh Barty of Australia defeated Danielle Collins of the US, 6-3 7-6, to win women’s singles final title at the Australian Open 2022.

The winners list of Australian Open Tennis Title 2022:

Events Winners:

Men’s Singles	Rafael Nadal
Women’s Singles	Ashleigh Barty
Men’s Doubles	Thanasi Kokkinakis and Nick Kyrgios
Women’s Doubles	Barbora Krejčíková and Kateřina Siniaková
Mixed Doubles	Kristina Mladenovic and Ivan Dodig

 

2. Tata Steel Chess 2022: Magnus Carlsen beats Fabiano Caruana: World Champion Grand Master Magnus Carlsen has secured his victory in Wijk Aan Zee (Netherlands) with a round to spare. The world champion defeated GM Fabiano Caruana and now leads the 2022 Tata Steel Chess Tournament by a full point. It was his 8th win, a unique achievement. Erigaisi Arjun (India) has won the Tata Steel Challengers. By doing so he has earned a spot in the Tata Steel Masters next year. The 85th edition of the Tata Steel Chess Tournament will take place from 13 – 29 January 2023.

 

BANKING AND FINANCE

 

1. SPMCIL opens new bank note printing lines at Nashik and Dewas: Security Printing and Minting Corporation of India Limited (SPMCIL) has set up ‘new banknote printing lines’ at its Currency Note Press, Nashik and Bank Note Press, Dewas. In India, four printing presses for printing and supply of Banknotes. These are at Dewas in Madhya Pradesh, Nasik in Maharashtra (owned by SPMCIL), Mysore in Karnataka, and Salboni in West Bengal (owned by Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)).

About the SPMCIL: SPMCIL, a Government of India owned Miniratna company, is engaged in the manufacture/production of Currency and Bank Notes, Security Paper, Non-Judicial Stamp Papers, Postal Stamps, Passport, Visa, Cheques, Bond, Warrant, Special Certificates with security features, Security Inks, Circulation & Commemorative Coins, Medallions, Refining of Gold & Silver, and Assay of Precious Metals among others.

Note: SPMCIL Chairman and Managing Director: Tripti Patra Ghosh;  SPMCIL Founded: 10 February 2006.

 

BUSINESS AND ECONOMY

 

1. Paytm Money launches “India’s first” intelligent messenger called ‘Pops’: Paytm Money has introduced “India’s first” intelligent messenger called ‘Pops’. The company has launched ‘Pops’, with which users can receive specific information related to their stocks, analysis about their portfolio, market news, and important market movements in an easy to consume format, all in one place. The platform will also serve as a marketplace to offer sophisticated stock recommendations, news insights, and other services.

Paytm Money is partnering with InvestorAi to offer stock recommendations based on signals generated using artificial intelligence. Now, with Pops on the Paytm Money app, these investors can monitor their portfolios regularly and learn from the market movements with alerts curated for them.

Note: Paytm Money CEO: Varun Sridhar; Paytm Money Headquarters location: Bengaluru; Paytm Money Founded: 20 September 2017.

 

2. Tata Group choose SBI, BoB and HDFC Bank to finance Air India’s old debt: Tata Group has chosen State Bank of India, Bank of Baroda and HDFC Bank as preferred bankers for Air India. Recently Tata Group has taken over Air India from the government. Air India is the largest international carrier out of India with an 18.6% market share. Tata Sons have availed of a Rs 10,000-crore loan from SBI and a Rs 5,000-crore loan from BoB. The loan from HDFC Bank is not known yet. The loans are unrated, unsecured, and pegged at 4.25% [interest rate] annually.

Tata Sons-promoted Talace has acquired Air India, offering Rs 18,000 crore that include Rs 15,300 crore for the carrier’s existing debt and Rs 2,700 crore cash to be paid to the government. The new debt availed by the Tata Group will be used to refinance Air India’s debt availed at over 10%.

Daily GK Update- 30th Jan, 2022

 

NATIONAL UPDATES:

 

1. Lok Sabha secretariat launches Digital Sansad app: Lok Sabha Speaker Om Birla has launched the official mobile application of the Parliament named ‘Digital Sansad App’ on January 27, 2022, to allow citizens to access live proceedings of the House, including the Union Budget 2022 live. The app will make the Parliament and Parliamentary proceedings accessible not only to the members but also to the public of the country.

About the Digital Sansad App:

(1) Through the Digital Sansad App, citizens can check what their members of Parliament are doing, what debates they are participating in and what they are saying. Using the app, parliamentarians can also digitally log their attendance.

(2) The app contains information on budget speeches since 1947 as well as House discussions from the 12th Lok Sabha to 17th Lok Sabha. It will also contain a live telecast of Sansad proceedings. 2022 Budget session can also be watched live on this App.

How will this app help MPs?

(1) The app will also help members of parliament to access services like checking personal updates viz., House bulletins, the status of their notices, etc.

(2) MPs are barred from using laptops inside the house. Thus, this app will become handy for MPs to get parliamentary information during any debate in the House.

(3) In future, this app will help MPs to log in for attendance, give questions for the Question Hour as well as submit notices for debates or adjournment motions.

 

2. GoI appoints Anantha Nageshwaran as chief economic advisor: The Government of India has appointed Dr V Anantha Nageswaran as the new Chief Economic Adviser. The announcement came days ahead of the presentation of the 2022 Union Budget on February 1 and the tabling of the 2021-22 Economic Survey on January 31. This post was lying vacant since December 17, 2021, when KV Subramanian left the office. He is a former member of the Prime Minister’s Economic Advisory Council (PMEAC).

 

3. A new book titled “The $10 Trillion Dream” author by Subhash Garg: The former finance secretary of India, Subhash Chandra Garg has announced his debut book named “The $10 Trillion Dream”. The book is scheduled to hit stands towards the end of February 2022. The new book explores the critical policy issues that India faces today and suggests reforms for it to become a USD 10 trillion economy by the mid-2030s. It is published by Penguin Random House India (PRHI).

 

4. 74th Martyrs’ Day: 30th January:: Martyr’s Day or Shaheed Diwas is observed every year on January 30 in the memory of Mahatma Gandhi, who was assassinated at Gandhi Smriti in the Birla House by Nathuram Godse in 1948. This year nation observed 74th Martyrs’ Day or Shaheed Diwas. The day is observed to remember the sacrifices made by freedom fighters in the struggle for India’s independence and to pay our respects to them. Notably, Martyrs’ Day is also observed in India on March 23 to pay respect to Bhagat Singh, Shivaram Rajguru and Sukhdev Thapar, who was hanged death on this day in 1931.’

History of the Day: The Father of Nation, Mahatma Gandhi was assassinated by Nathuram Godse in the Birla House during his evening prayers on 30 January 1948. Nathuram Godse was trying to justify his crime by holding Gandhiji and saying that he is responsible for the partition of the country and the killing of thousands during the freedom struggle. He called Gandhiji a pretender and in no way felt guilty for his crime. On 8th November, Godse was sentenced to death. So, on this day i.e. 30 January Bapu breathed his last and was martyred. The Government of India announced the day as Shaheed Diwas or Martyr’s Day.

 

INTERNATIONAL UPDATES:

 

1. India and ASEAN nations approves Digital Work Plan 2022: India and ASEAN nations have approved a work plan titled India-ASEAN Digital Work Plan 2022, during the second ASEAN Digital Ministers’ (ADGMIN) Meeting held virtually. The ADGMIN meeting was co-chaired by Devusinh Chauhan, Minister of State for Communications, Government of India, and Admiral Tin Aung San, Myanmar’s Minister of Transport and Communications.

Under the plan:

(1) India and ASEAN will jointly work to develop a system to combat the use of stolen and counterfeit mobile handsets, and a WiFi Access network interface for nationwide public internet.

(2) The plan also includes capacity building and knowledge sharing in emerging areas in Information and Communication Technologies such as Internet of Things, 5G, Advanced Satellite Communication and Cyber Forensics.

 

2. World Leprosy Day: 30th January: World Leprosy Day is observed globally on the last Sunday of January every year. In 2022, the World Leprosy Day falls on January 30, 2022. The day is celebrated to raise global awareness of this deadly ancient disease and call attention to the fact that it can be prevented, treated and cured. In India, World Leprosy Day is celebrated every year on 30 January, the anniversary of Mahatma Gandhi’s death. This year theme of World Leprosy Day 2022 is “United for Dignity”.

History of the day: The day was initiated in 1954 by French philanthropist and writer, Raoul Follereau, as a tribute to the life of Mahatma Gandhi who had compassion for people afflicted with leprosy.

Leprosy: Leprosy is a chronic infectious disease caused by a bacillus, Mycobacterium leprae (M. laprae). The symptoms of the disease occur generally after a long period of getting an infection on average 5 years, as M. leprae multiplies very slowly. The disease mainly affects the skin, the peripheral nerves, mucosa of the upper respiratory tract, and the eyes.

 

3. World Neglected Tropical Diseases Day: 30th January: World Neglected Tropical Diseases Day (World NTD Day) is observed on January 30 every year to raise awareness about neglected tropical diseases (NTDs) as a critical public health challenge so that we can progress towards their elimination. 2022 theme is ‘Achieving health equity to end the neglect of poverty-related diseases’. The 2022 slogan is “From neglect to care”.

History of the day: The first World NTD Day was held on 30 January 2020. The proposal to recognise the day was made by the United Arab Emirates (UAE). 74th World Health Assembly endorsed a decision recognizing 30 January as World Neglected Tropical Diseases Day (‘World NTD Day’). World NTD Day commemorates the simultaneous launch of the first NTD road map and the London Declaration on NTDs on 30 January 2012. For countries where neglected tropical diseases (NTDs) are prevalent and for the global community of partners, this is a new dawn.

 

OTHER UPDATES:

 

SPORTS

 

1. 6th Pan Am Women Cup Hockey Championship: Argentina beat Chile: Argentina defeated Chile, 4-2 to win its 6th women’s field hockey championship title at the 2022 Women’s Pan American Cup. The Women’s Pan American Cup is the quadrennial international championship of the Americas organized by the Pan American Hockey Federation.

The 2022 Women’s Pan Am Cup was the sixth edition of the championship. It was held from January 19 to 29, 2022 in Santiago, Chile. With this win both Argentina and Chile have sealed automatic qualification spots at the FIH Hockey Women’s World Cup, Spain and Netherlands 2022.

 

BANKING AND FINANCE

 

1. Govt extends scope of Advisory Board for Banking and Financial Frauds (ABBFF) to cover all fraud cases involving amount of Rs.3 Crore and above: Central Vigilance Commission (CVC) and Ministry of Finance have extended the scope of the existing Advisory Board for Banking and Financial Frauds (ABBFF) to cover all fraud cases involving an amount of Rs.3 Crore and above in Public Sector Bank and Public Sector Financial institutions. Earlier this limit was Rs 50 crore and above. The ABBFF will examine all cases of total amount involving Rs.3.00 Crore and up to Rs.50.00 Crore.  Head of Advisory Board for Banking and Financial Frauds (ABBFF)- T M Bhasin.

 

2. SBI listed the maiden issue of $300 million Formosa bonds on India INX: State Bank of India (SBI) has issued $300 million Formosa bonds and listed the issuance on India INX GIFT IFSC. The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan. SBI was the first issuer whose Green bonds were dually listed in November 2021 on Luxembourg Stock Exchange through an MOU that has been entered into by both Exchanges. This first successful issuance of Formosa Bond by any Indian commercial bank, is a testimony of the confidence reposed by the overseas investors into India’s growth story and also in SBI.

Note: SBI Founded: 1 July 1955; SBI Headquarters: Mumbai; SBI Chairman: Dinesh Kumar Khara.

 

BUSINESS AND ECONOMY

 

1. TVS Motor acquires 75% stake in Swiss e-Mobility Group (SEMG) for $100 million: TVS Motor Company has announced the acquisition of 75 percent stake in the Swiss e-Mobility Group (SEMG) for $100 million. Further TVS Motor plans to acquire the remaining 25 percent in the company soon. This is TVS Motor’s second acquisition in Switzerland for FY22. In September 2021, it had acquired 80 per cent stake in EGO Movement for $17.9 million. SEMG is a market-leading provider of e-mobility solutions within the DACH region. DACH region refers to the three Central European countries of Germany (D- Deutschland(German name of Germany), Austria (A), and Switzerland (CH).

 

2. Pushp Kumar Joshi named to be new chairman and MD of HPCL: Pushp Kumar Joshi has been named to be the new chairman and managing director of Hindustan Petroleum Corporation Ltd (HPCL), the nation’s third-largest oil refining and fuel marketing company. Joshi, who is currently Director – Human Resources at HPCL has been on the board of HPCL for almost a decade now. He will replace Mukesh Kumar Surana, who superannuates on April 30 this year.

The recommendation will now go to the Appointments Committee of the Cabinet (ACC) headed by the Prime Minister (PM) of India. ACC will decide on his selection after getting reports from anti-corruption agencies such as CVC (Central Vigilance Commission) and CBI (Central Bureau of Investigation).

 

OBITUARIES

 

1. Educationist/social leader Baba Iqbal Singh Ji passes away: Iqbal Singh Kingra, who was an Indian socio-spiritual leader of the Sikh community and an educationalist passed away at the age of 95 years. He was conferred with the Padma Shri in 2022 for his contributions in the field of social work. He established Eternal University in 2008and Akal University, Guru ki Kashi in 2015.

Daily GK Update- 29th Jan, 2022

 

NATIONAL UPDATES:

 

1. India pays $29.9 million in UN regular budget assessments for 2022: India has paid USD 29.9 million in UN regular budget assessments for the year 2022. As of January 21, 2022, 24 Member States have paid their regular budget assessments in full. India is currently a non-permanent member of the 15-nation Security Council and its two-year term will end on December 31, 2022. “#India proud to pay again in full! India joins the 2022 Honour Roll of 24 Member States out of 193 that have paid their @UN RegularBudget Assessments in full,” India’s Permanent Mission to the UN tweeted.

 

2. Govt notifies Certification Scheme for Unmanned Aircraft Systems (Drones): The Government of India has notified the Certification Scheme for Unmanned Aircraft Systems (UAS) commonly known as Drones to ensure minimum safety and quality requirements of drones. It was notified on January 26, 2022 and it will boost indigenous manufacturing of Drones. It has been notified under Rule 7 of the liberalized Drone Rules, 2021, which replaced Unmanned Aircraft Systems (UAS) 2021. The Government of India has formulated the Digital Sky Platform for registration and operation of drones with an all-digital process. These initiatives like Certification Scheme, PLI (production-linked incentive) Scheme, Liberalised drone rules, airspace map and DigitalSky Platform, will help the drone manufacturing industries in India. Ministry of Civil Aviation in September 2021 had approved a PLI scheme for drones and drone components with an allocation of Rs 120 crore spread over three financial years.

 

3. India’s first graphene innovation center to be established in Kerala: India’s first innovation centre for graphene will be set up in Kerala by the Digital University Kerala (DUK), along with the Centre for Materials for Electronics Technology (C-MET) in Thrissur, for Rs 86.41 crore. This will be the first graphene Research and Development (R&D) incubation centre in the country. Tata Steel Limited is set to be the industrial partner of the centre. The Ministry of Electronics and Information Technology, Government of India, has given approval for the project. The project, which will be implemented with the support of the Kerala government, is expected to accelerate the state’s growth in the knowledge industry sector.

Graphene: Graphene is known for its extraordinary electrical and electronic properties, and as per latest research, it could replace indium and thereby bring down the cost of OLED (organic light-emitting diode) screens in smartphones. Graphene has good chemical stability, high electrical conductivity and a large surface area while being transparent and lightweight.

 

4. India’s largest EV charging station opened at Gurgaon: India’s largest electric vehicle (EV) charging station with a capacity of 100 charging points for 4 wheelers, was opened at Delhi-Jaipur National Highway in Gurugram. Previously, India’s largest EV charging station was situated in Navi Mumbai with 16 AC & 4 DC charging ports for EVs. The new EV charging station has been developed by tech-piloting company Alektrify Private Limited.

This EV charging station will not only boost the electric vehicles industry in the region but will also act as a benchmark for large EV charging stations across the nation in future. The electric vehicle charging station of this size and magnitude is rare and will be instrumental for the industry to experience actual Ease of Doing Business in smooth ‘Certification Compliance’ and ‘Safety Standards’.

 

5. ‘A Little Book of India: Celebrating 75 years of Independence’ authored by Ruskin Bond: A new book titled “A Little Book of India: Celebrating 75 years of Independence” authored by Ruskin Bond was released, marking 75 years of India’s Independence. The book is the blend of “physical and spiritual” attributes of India and also highlights the last 75 years of India’s progress as a nation. It is published by Penguin Random House India (PRHI). It is a record of some of my memories and impressions of this unique land — of its rivers and forests, literature and culture, sights, sounds and colours — an amalgamation of the physical and spiritual.

 

INTERNATIONAL UPDATES:

 

1. World’s-largest canal lock unveiled in Netherlands: The world’s largest canal lock has been inaugurated at Ijmuiden, a small port city, in the Port of Amsterdam, The Netherlands. The sea lock was inaugurated by Dutch King Willen-Alexander. The Ijmuiden sea lock is 500-meter (1,640-feet) long and 70-meter wide. Construction on the massive infrastructure project began in 2016 and was meant to be done by 2019. It also went over the initially planned budget by around €300 million ($338 million).

The Ijmuiden lock was designed to allow large, modern cargo ships to reach the port of Amsterdam. The structure is also deep enough that ships will no longer have to wait for a favourable water level to enter the canal. With almost nine meters above the sea leave, the structure is also a defence against the threat of flooding.

Note: The Netherlands Capital: Amsterdam; The Netherlands Currency: Euro; The Netherlands Prime minister: Mark Rutte.

 

2. PM Narendra Modi Hosts First India-Central Asia Virtual Summit: Prime Minister of India Narendra Modi has hosted the first India-Central Asia Summit, through the virtual platform. It was the first of its kind engagement between India and the Central Asian countries at the level of leaders. The central Asian region has five recognized countries. The Summit was attended by the Presidents of these five Central Asian countries.

These are the Republic of Kazakhstan, Kyrgyz Republic (Kyrgyzstan), Republic of Tajikistan, Turkmenistan and Republic of Uzbekistan. The first India-Central Asia Summit coincided with the 30th anniversary of the establishment of diplomatic relations between India and Central Asian countries. During the summit, the Leaders agreed to hold the Summit every 2 years (biennial). The summit is symbolic of the importance attached by the leaders of both sides to a comprehensive and enduring India-Central Asia partnership.

During the summit, PM Modi outlines 3 goals:

(1) Elaborating on the first goal, the Prime Minister said the mutual cooperation between India and central Asia was necessary for regional security and prosperity.

(2) Outlining the second goal, Modi said, “Today’s meeting is to give an effective structure to our cooperation, which will pave the way for the establishment of a platform for regular interaction among all stakeholders.”

(3) For the third goal, Modi said it was crucial to prepare an ambitious roadmap for the cooperation between India and Central Asian countries which, he added, will enable the nations to adopt an integrated approach for regional connectivity and cooperation.

 

OTHER UPDATES:

 

SPORTS

 

1. Women’s Asia Cup Hockey 2022: India beat China to win Bronze: India defeated China, 2-0 to win the bronze medal at the 2022 Women’s Hockey Asia Cup tournament. The 2022 Women’s Hockey Asia Cup was the 10th edition of the quadrennial Women’s Hockey Asia Cup. The tournament was held from January 21 to 28, 2022 at the Sultan Qaboos Sports Complex in Muscat, Oman. Japan defeated South Korea 4-2 in the final to win their third title at the Women’s Hockey Asia Cup tournament.

 

BANKING AND FINANCE

 

1. TerraPay tie-up with NPCI International to boost cashless transactions: TerraPay has signed MoU with NPCI International Payments Limited (NIPL) to allow Indian customers with an active UPI ID to receive real-time, international payments into their bank accounts via TerraPay’s secure payments technology. It will enable a seamless and convenient cross-border remittances experience. NIPL is an international arm of the National Payments Corporation of India (NPCI).

This association with NIPL will allow Indians with an active UPI ID to receive real-time, international payments into their bank accounts via TerraPay’s adaptive and secure payments technology. The intended collaboration will now further empower UPI users to leverage TerraPay’s agile interoperable payments infrastructure to receive payments on a fully regulated, secure, scalable, and efficient channel.

About TerraPay: Globally, TerraPay processes payouts into 4.5 billion+ bank accounts and 1.5 billion+ mobile wallets. With the vision to foster financial inclusion, residents, POI’s, Indian diaspora will be able to send money to India by using TerraPay’s agile, transparent and real-time payment channel.

Note: NPCI Founded: 2008; NPCI Headquarters: Mumbai, Maharashtra; NPCI MD & CEO: Dilip Asbe.

 

BUSINESS AND ECONOMY

 

1. WGC: Global gold demand rises 10% to 4,021 tonnes: According to the World Gold Council (WGC) report ‘Gold Demand Trends 2021’ has informed that the global gold demand rose 10 per cent in 2021 to 4,021.3 tonnes. The overall gold demand during 2020, which was impacted following Covid-19 related disruptions, stood at 3,658.8 tonnes.

The demand for the yellow metal was mainly driven by Central bank buying during the fourth quarter of 2021, recovery in jewellery consumption, mainly in India and China. India’s gold consumption surged to 797.3 tonnes in 2021, on the back of the recovery in consumer sentiments and pent-up demand post Covid-19-related disruptions and the bullish trend is set to continue this year as well.

Note: World Gold Council CEO: David Tait; World Gold Council Headquarters: London, United Kingdom; World Gold Council Founded: 1987; World Gold Council President: Kelvin Dushnisky.

 

2. Google to invest upto $1 Billion in Bharti Airtel: Bharti Airtel and Google have announced a long-term partnership agreement, to accelerate the growth of India’s digital ecosystem. Under the deal, Google will invest USD 1 billion in Airtel. From the total investment, Google will invest USD 700 million to acquire a 1.28 per cent stake in Bharti Airtel Ltd. The remaining USD 300 million will go toward multi-year commercial agreements with Airtel, including devices built together by the two tech giants.

The USD 1 billion funding is part of Google’s USD 10 billion ‘Google for India Digitization Fund’, launched in 2020. This is Google second investment in an Indian telecom service provider (after Reliance Jio). Discussion between the two companies had been going on since the first half of 2021 and culminated in an announcement.

Note: Bharti Airtel CEO: Gopal Vittal; Bharti Airtel Founder: Sunil Bharti Mittal; Bharti Airtel Founded: 7 July 1995.

Google CEO: Sundar Pichai; Google Founded: 4 September 1998, California, United States; Google Founders: Larry Page, Sergey Brin.

Daily GK Update- 28th Jan, 2022

 

NATIONAL UPDATES:

 

1. Kerala got its first-ever scientific bird atlas: Kerala Bird Atlas (KBA), the first-of-its-kind State-level bird atlas in India, has created solid baseline data about the distribution and abundance of bird species across all major habitats, giving an impetus to futuristic studies. It is being conducted as a citizen science-driven exercise with the participation of over 1,000 volunteers of the birdwatching community KBA has been prepared based on systematic surveys held twice over 60 days a year. Conducted as a citizen science-driven exercise with the participation of over 1000 volunteers of the bird watching community, KBA was prepared based on systematic surveys held twice over 60 days a year during the wet (July to September) and dry (January to March) seasons between 2015 and 2020.

Note: Kerala Capital: Thiruvananthapuram; Kerala Governor: Arif Mohammad Khan; Kerala Chief Minister: Pinarayi Vijayan.

 

2. Ramgarh Wildlife Sanctuary set to be notified as 4th tiger reserve of Rajasthan: Ramgarh Vishdhari Wildlife Sanctuary, which is among the proposed five sites in the country, is expected to be formally notified as tiger reserve (TR) soon before the Global Tiger Summit, which is to be held at Vladivostok, Russia. The Centre also announced the development during the 4th Asia ministerial conference on tiger conservation. The Centre has already given its approval of granting tiger reserve status to Ramgarh Vishdhari Wildlife Sanctuary, along with MM Hills in Karnataka, Guru Ghasidas National Park in Chhattisgarh.

About the Ramgarh Vishdhari Sanctuary:

(1) The Ramgarh Vishdhari Sanctuary will be spread across 1,071 sq kms. A 302 Sq Km area in the proposed tiger sanctuary will be left as critical habitat for Tigers and the rest of the area will act as a buffer zone for the Ranthambore National Park.

(2) Ramgarh Vishdhari Wildlife Sanctuary was established in 1982. The core areas of the sanctuary have 8 villages and are home to large numbers of wild animals like sambhars, caracals, wild boars, nilgai, and striped Hyena.

Note: Chief Minister of Rajasthan: Ashok Gehlot; Governor: Kalraj Mishra.

 

3. Health Minister Mansukh Mandaviya launches revamped website and Mobile App “MyCGHS”: The Union Health Minister Mansukh Mandaviya launched the revamped website and mobile app of the Central Government Health Scheme (CGHS). The website is www.cghs.gov.in and the mobile app is called “MyCGHS”. The new features will benefit more than 40 lakh beneficiaries with real-time information from the convenience of their homes. The website has been made 3U compliant, where u stands for Usable, User-Centric and Universally Accessible.

 

4. CSCs launches Yogyata mobile app to impart skill-based vocational education: The Common Services Centers (CSC) has launched a mobile phone application named ”Yogyata” to impart vocational education and skill enhancement opportunities to youth and citizens in rural areas. Through this Yogyata App, CSCs aims to provide industry-based skills to youth in rural areas and thereby make them job-ready. The enrolments under the app will be carried out by the Village Level Entrepreneurs (VLE).

 

5. Meenakashi Lekhi launches pictorial comic book ‘India’s Women Unsung Heroes’: Union Minister of State for Culture, Meenakashi Lekhi has released a pictorial comic book titled ‘India’s Women Unsung Heroes’, as a tribute to the forgotten women freedom fighters of the country. The book has been prepared by the Ministry of Culture in partnership with Amar Chitra Katha, an Indian publisher of Indian comics and graphic novels. India will be celebrating 75 years of independence this August 15. And so, the book celebrates the lives of 75 unsung women freedom fighters of India, including Chakali Ilamma, Padmaja Naidu, Durgabhai Deshmukh, among others.

 

INTERNATIONAL UPDATES:

 

1. Russia-China-Iran conducts joint naval exercise CHIRU-2Q22: The Russian, Chinese and Iranian navies undertook naval exercises CHIRU-2Q22 in the Gulf of Oman. The maritime drills conducted in the northern parts of the Indian Ocean aimed at deepening practical cooperation among the navies of the three countries. The participants practised various tactics and operations, such as rescuing ablaze vessels, saving hijacked vessels, shooting at targets, nocturnal shooting at aerial targets, and other tactical manoeuvres as a part of the drill. At least 140 warships and over 60 aircraft with nearly 10,000 military personnel would be taking part in the military exercises.

 

2. Corruption Perceptions Index (CPI) 2021: India ranks 85th: Transparency International has released the Corruption Perceptions Index (CPI) 2021 in which India has been ranked at 85th spot (Score of 40). The ranking has been topped jointly by three countries- Denmark, Finland and New Zealand (Score of 88). This ranking measures how corrupt each country’s public sector is perceived to be. The results are given on a scale of 0 (highly corrupt) to 100 (very clean). 180 countries are ranked in it. Last year (for 2020) India was ranked 86th with a score of 40. This year’s Corruption Perceptions Index (CPI) reveals that corruption levels are at a worldwide standstill. The global average remains unchanged for the tenth year in a row, at just 43 out of 100 points.

 

3. Apple retained the title as world’s valuable brand in Brand Finance 2022: Apple has retained its position as the most valuable brand in 2022 as well, according to the Brand Finance 2022 Global 500 report. The brand valuation of Apple was recorded at $355.1 billion in 2022, which is an increase of 35% from last year. This is the highest brand value ever recorded in the Brand Finance Global 500 ranking history.

Brands in the top 10: (1) Apple; (2) Amazon; (3) Google; (4) Microsoft; (5) Walmart; (6) Samsung; (7) Facebook; (8) Industrial and Commercial Bank of China; (9) Huawei; (10) Verizon

Key Points in the list:

(1) TikTok (18th) has been named the world’s fastest-growing brand in the list. Its brand value increased from US$18.7 billion in 2021 to US$59.0 billion in 2022.

(2) Tech remained the most valuable industry in the list in terms of sector. This was followed by Retail, Banking, Media and Telecoms in top 5 respectively.

Top Indian brand The Indian conglomerate Tata Group has emerged as the most valuable brand from India and also in South Asia. It is the only brand from the country in the top 100. The Global Rank of Tata Group 78. The brand value of Tata Group is US$23.9 billion.

 

4. Data Privacy Day: 28th January: Data Privacy Day is celebrated on January 28, every year across the world. The objective of the day is to sensitize individuals and disseminate privacy practices and principles. It encourages everyone to own their privacy responsibilities to create a culture of privacy. Observance of the day is “an international effort of creating awareness on the importance of respecting privacy, enabling trust and safeguarding data”. The theme for this year is ‘Privacy Matters’. It instils a sense of accountability that Privacy is integral to every individual’s life.  Data privacy has been one of the hot topics of discussion in a digitally connected world. The issue has become pertinent at the time of the coronavirus disease (Covid-19) pandemic when more and more people are forced to spend time in the online world.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. City Union Bank launches fitness watch debit card in tie-up with GOQii: City Union Bank in association with smart-tech-enabled preventive healthcare platform GOQii and powered by the National Payments Corporation of India (NPCI), has launched a wearable payment solution called CUB fitness watch debit card. Customers need to hold this wristwatch in front of the PoS device during payment like tapping the card on PoS. For payments above Rs 5,000, customers need to tap and enter their PIN. The introductory price of a smartwatch debit card is Rs 3,499, as compared to an actual cost of Rs 6,499).

Customers can set limits for their payments using Net / Mobile Banking. Payments made using this Debit Card in a Fitness Watch are safe and secure, the bank said in a statement. For each transaction done using the watch, SMS will be sent to the registered mobile number. Customers can raise a request for the Fitness Watch Debit Card through Net banking/ Mobile banking. Usage of wristwatches can be managed by customers on their own through CUB All in One Mobile App.

Note: City Union Bank Headquarters: Kumbakonam; City Union Bank CEO: Dr. N. Kamakodi (1 May 2011–); City Union Bank Founded: 1904.

 

BUSINESS AND ECONOMY

 

1. Pencilton Launches Teen-Focused Debit and Travel Card: A teen-focused Fintech startup based in India, Pencilton has recently launched PencilCard, a debit card that is compliant with National Common Mobility Card standards. It has been launched in partnership with Transcorp. The National Common Mobility Card was developed by India’s Ministry of Housing and Urban Affairs in early 2019. It allows the user to pay for travel, toll duties, retail shopping and withdraw money. Features of PencilCard:

(1) PencilCard works for both online and offline payments in addition to its utility as a metro and bus card. It can currently be used for travel on the airport line in Delhi and a KTC bus card in Pune. It will soon be accepted for metro travel in Pune, Chennai, and Mumbai. Also in the works is utilization on BEST buses in Mumbai.

(2) PencilCard is also a Platinum RuPay card that brings additional perks such as free access to all airport lounges in India. Users can activate their card via the Pencilton app for loading money, getting a category-wise spend analysis, blocking or unblocking cards, setting limits, establishing savings goals, saving in a ‘digital piggy bank’, finishing chores given by parents for bonus pocket money and accessing a variety of other functions.

 

2. Air India formally handed over to Tata Group 2022: The government of India officially handed over India’s flag carrier, Air India to the Tata Group on January 27, 2022, almost 69 years after acquiring the conglomerate. The total value of the deal is Rs 18,000 crore (US$2.4 billion). The strategic disinvestment transaction of Air India includes the transfer of a 100 per cent stake of GoI in Air India to Tata Sons, along with management control.

The transaction covers three entities namely, Air India, Air India Express and Air India SATS (AI SATS). Under the deal, the Tata group will also be handed over Air India Express and a 50 per cent stake in ground handling arm AI SATS.

Note: Tata Group Founder: Jamsetji Tata; Tata Group Founded: 1868, Mumbai; Tata Group Headquarters: Mumbai.

 

AWARDS AND HONOURS

 

1. Sathyamangalam Tiger Reserve bags TX2 award: Sathyamangalam Tiger Reserve (Erode district, Tamil Nadu) has been given the prestigious TX2 award after its tiger numbers doubled to 80 since 2010. Apart from the STR, the Bardia National Park in Nepal has won this year’s TX2 award for doubling the population of wild tigers. Sathyamangalam wildlife sanctuary was declared a tiger reserve in 2013 and the reserve that spread across 1,411.60 sq km is an important link between the Nilgiris and Eastern Ghats landscape. The Nilgiri biosphere landscape that this reserve is part of is currently the home to the largest tiger population in the world. It is connected to other well-established tiger habitats like Mudumalai Tiger Reserve, Bandipur Tiger Reserve and BR Hills Tiger Reserve.

About the TX2 award: The award acknowledges the efforts by the State governments and the local communities which have played one of the most important roles to turn a relatively new tiger reserve into one of the source populations of tigers in India. The awards are presented by the Conservation Assured Tiger Standards (CA|TS), Fauna and Flora International (FFI), Global Tiger Forum (GTF), IUCN’s Integrated Tiger Habitat Conservation Programme (ITHCP), Panthera, UNDP, The Lion’s Share, Wildlife Conservation Society (WCS) and WWF.

 

OBITUARIES

 

1. Veteran Marathi author and social activist Anil Awachat passes away: Renowned Marathi author and social activist Anil Awachat has passed away. Awachat was the founder of a de-addiction center called Muktangan Rehabilitation Center in Pune in 1986. He was known for his several Marathi books like “Manasa”, Swatahavishayi, “Gard”, “Karyarat”, “Karyamagna” and “Kutuhalapoti”. In the early 1970s, he edited a popular Marathi journal called Sadhana which featured his trenchant writings on social issues, notably in his reportage of the 1972 drought that ravaged Maharashtra. His many books include ‘Kondmara’ (1985) on Dalit atrocities and ‘Dharmik’ (1989), a penetrating expose on the cult of false godmen in Maharashtra.

 

2. Noted Kathakali dancer and Padma Shri Recipient Milena Salvini Passes Away: Noted Kathakali dancer Milena Salvini of France has passed away. Italian-born Salvini was a regular visitor to India, especially Kerala where she learnt Kathakali, and ran ‘Centre Mandapa’, a school for Indian dance forms, in Paris. The Government of India conferred the Padma Shri award on Salvini in 2019 for her contribution in the field of performing arts.

 

3. Former Indian Hockey Team Captain Charanjit Singh Passes Away: Former Hockey mid-fielder Charanjit Singh has passed away, after suffering a cardiac arrest and prolonged age-related illnesses. He was 90. He was the Captain of the Indian hockey team which won gold in the Tokyo Olympics of 1964. He was also a member of the Indian team which won silver medals in the 1960 Games in Rome, and in the 1962 Asian Games at Jakarta.