Daily GK Update- 13th Feb, 2022

 

NATIONAL UPDATES:

 

1. Karnataka government launched ‘Women@Work’ programme: The government of Karnataka has launched ‘Women@Work’ program to provide five lakh jobs within 2026 to women with necessary employable skills. The program aims to focus on the efforts of corporate programs on attracting women workforce. It has been developed by Karnataka Digital Economy Mission (KDEM) in association with KTECH, Karnataka Skill Development Corporation. It will act as an enabler for women to actively participate and join the workforce through industry upskilling. All efforts are being made to provide 5,000 jobs for women as part of the Karnataka Digital Economy Mission and added that the government is keen to actualise this mission in the coming days.

Note: Karnataka Capital: Bengaluru; Karnataka Chief Minister: Basavaraj S Bommai; Karnataka Governor: Thawar Chand Gehlot.

 

2. Union Minister of Power launches Virtual Smart Grid Knowledge Center: As part of the Azadi ka Amrit Mahotsav Program, Union Minister for Power R.K. Singh launched the Virtual Smart Grid Knowledge Center (SGKC) and Innovation Park. Krishan Pal Gurjar, Minister of State for Power, was also in attendance.

Key Points:

a)      POWERGRID established the Smart Grid Knowledge Center (SGKC) to demonstrate and advance cutting-edge smart grid technologies.

b)      SGKC aspires to be one of the world’s top centres of excellence for smart grid technology innovation, entrepreneurship, and research, as well as building capacity in the power distribution industry.

c)       The Virtual SGKC, which was introduced today, allows for a digital footprint of the real SGKC, which was needed during the COVID-19 epidemic.

 

3. Haryana’s CM announced ‘Sushma Swaraj Award’ for women: Haryana Chief Minister, Manohar Lal Khattar, while presenting the state budget, has announced a ‘Sushma Swaraj Award’ for women for their significant achievements or contribution in different walks of life in the international and national spheres. The Sushma Swaraj Award will carry an award money of Rs 5 lakh along with a commendation.

About the Sushma Swaraj: Sushma Swaraj was a lawyer of the Supreme Court as well as an Indian politician. She was a senior member of the Bharatiya Janata Party, served as India’s Minister of External Affairs during the first Narendra Modi government (2014–2019). After Indira Gandhi, she was the second woman to occupy this position.

Note: Haryana Capital: Chandigarh; Haryana Governor: Bandaru Dattatreya; Haryana Chief Minister: Manohar Lal Khattar.

 

4. Skoch State of Governance ranking 2021: Andhra Pradesh gets first rank: Andhra Pradesh has retained its number one spot in the SKOCH State of Governance rankings for the second consecutive year. According to a release, the State retained the first rank for the second consecutive year. In 2020 too, Andhra Pradesh bagged top rank in governance. Andhra Pradesh was ranked at second position in 2018 and later it slipped to 4th position in 2019, according to Skoch.

Other state rankings: The second rank was bagged by West Bengal and Odisha was ranked 3, Gujarat was ranked 4 and Maharashtra was ranked 5. Neighbouring Telangana was ranked 6.

 

5. Sharad Pawar unveiled Ratnakar Shetty’s autobiography “On Board: My Years in BCCI”: A book titled “On Board: My Years in BCCI”, an autobiographical account of Ratnakar Shetty’s experiences as an administrator. The book was released by Sharad Pawar, the former president of the MCA, BCCI and International Cricket Council. Shetty, a Chemistry professor by profession, went on to be the BCCI’s first Chief Administrative Officer after serving the Mumbai Cricket Association in various capacities.

 

INTERNATIONAL UPDATES:

 

1. Hungary elects first-ever female president: The Hungarian parliament has elected Katalin Novak, a close ally of Prime Minister Viktor Orban, as the EU member’s first-ever female president. Novak, who most recently served as a minister for family policy, portrayed her election as a victory for women. She was elected to the mostly ceremonial role by 137 votes to 51 in the parliament dominated by Orban’s right-wing Fidesz party ahead of opposition challenger Peter Rona, an economist.

Novak will succeed Janos Ader, a co-founder of Orban’s governing right-wing Fidesz party who has held the job since 2012. She will take office after Ader’s term expires May 10.

Note: HungaryCapital: Budapest; Hungary Currency: Hungarian forint.

 

2. IMF board approves $1.4 billion emergency support for Ukraine: The International Monetary Fund (IMF) has approved $1.4 billion in emergency support for Ukraine to finance expenditures and shore up the balance of payments. Ukraine has turned to financing from allies and international institutions to support its economy after the Russian invasion began on February 24. The disbursement under the IMF’s Rapid Financing Instrument (RFI), equivalent to 50% of Ukraine’s quota in the IMF, will help fund urgent spending needs in the short term, while helping to catalyze financing from other partners.

Note: Ukraine Capital: Kyiv; Ukraine Currency: Ukrainian hryvnia; Ukraine President: Volodymyr Zelenskyy; Ukraine Prime minister: Denys Shmyhal.

 

3. World Rotaract Day: 13th March: World Rotaract Day is celebrated on the 13th of March every year to acknowledge the services provided by the rotaractors across the world. The theme of World Rotaract Day 2022 is “Rotary Making a Difference”. World Rotaract Week will be held from 11 March 2022 to 18 March 2022.

Rotaract: Rotaract means rotary in action. Rotary is an organization of business and professional people who unite worldwide to provide humanitarian service, encourage high ethical standards in all vocations and help build goodwill and peace in the world. World Rotaract Day is commemorated to honour the beginning of the first such club, Rotary International, in 1968 at North Carolina, USA. Now it has transformed into a major Rotary-sponsored organization with more than 9,539 clubs spread around the world.

 

OTHER UPDATES:

 

SPORTS

 

1. India finishes at the top in 2022 ISSF World Cup: India has taken first place in the medal standings at the ISSF World Cup 2022 in Cairo, organised by the International Shooting Sport Federation. By winning a total of seven medals, the Indian team took first place in the medals tally, with four gold, two silver, and one bronze. Norway took second place in the medals tally with six medals (three gold, one silver, and two bronze). France came in third place with three gold medals out of a total of twenty.

Key Points:

a)      On the final day of the ISSF World Cup 2022 in Cairo, Egypt, Indian shooters took home two medals.

b)      Rhythm Sangwan and Anish Bhanwala won the 25m rapid fire pistol mixed team gold medal match against Thailand 17-7 in the tournament’s final event.

c)       Earlier in the day, India’s Gurpreet Singh, Anish Bhanwala, and Bhavesh Shekhawat were defeated 7-17 by Germany in the gold medal match of the men’s 25m rapid fire pistol team competition.

d)      India won their third World Cup gold on Sunday, defeating Singapore 17-13 in the women’s 25m pistol team event final. In the gold medal match, Rahi Sarnobat, Esha Singh, and Rhythm Sangwan defeated the Singaporean trio of Xiu Hong, Shun Xie, and Ling Chiao Nicole Tan.

e)      Esha Singh had won the women’s 10m air pistol team event in addition to the silver she had earned in the women’s 10m air pistol individual event, making this her second gold and third medal of the World Cup.

f)        Saurabh Chaudhary won India’s first gold medal in Cairo last week. In the gold medal match of the Men’s 10m Air Pistol event, the 19-year-old Indian defeated Michael Schwald of Germany 16-6.

 

BANKING AND FINANCE

 

1. RBI extends Interest subsidy scheme for exporters: With the aim of expanding export shipments, the Reserve Bank of India extended the interest equalisation scheme for pre and post-shipment rupee loans for MSME exporters through March 2024. The ‘Interest Equalisation Scheme for pre and post-shipment Rupee Export Credit’ provides a subsidy to exporters. The scheme was first extended until the end of June last year, and then again until September 2021.

Important points:

a)      The interest equalisation rates under the plan have been revised to 2% and 3% for certain categories of MSME manufacturer exporters, according to the RBI.

b)      Scheme to equalise interest rates “The government has authorised the extension of the Interest Equalisation Scheme for Pre- and Post-Shipment Rupee Export Credit through March 31, 2024, or until further review, whichever comes first,” said the statement.

c)       The extension will take effect on October 1, 2021, and will end on March 31, 2024, according to a notification from the RBI. The scheme will not apply to telecom instruments or businesses that receive benefits under the government’s Production Linked Incentive (PLI) programme.

d)      The bank will be required to provide the prevailing interest rate, the interest subvention being provided, and the net rate being charged to each exporter when issuing approval to the exporter, according to the RBI, in order to ensure transparency and greater accountability in the scheme’s operation.

e)      It further stated that beginning April 1, 2022, banks will cut the interest rate charged to eligible exporters upfront in accordance with the standards, and that claims must be submitted in writing within 15 days after the end of the fiscal year.

 

2. Axis Bank launches hiring initiative named ‘Gig-a-Opportunities’: Axis Bank has launched a new initiative named ‘Gig-a-Opportunities’. The initiative aims to attract skilled talent that can work with the bank remotely, from anywhere in the country. This hiring model comprises two working patterns. One is the full-time permanent job and the second is based on the duration of a project and is temporary in nature. Axis Bank aims to employ 800-1000 people over the next under this initiative.

Note: MD and CEO of Axis Bank: Amitabh Chaudhry; Axis Bank Headquarters: Mumbai, Maharashtra; Axis Bank Founded: 1993, Ahmedabad.

 

BUSINESS AND ECONOMY

 

1. ToneTag launches VoiceSe UPI digital payments for feature phone users: ToneTag has partnered with NSDL Payments Bank and NPCI to launch its “VoiceSe UPI payments service” for feature phone users. This comes after the Reserve Bank of India has launched the UPI 123Pay facility that enables UPI payments for feature phone users. ToneTag is a sound-based proximity communication and payments service provider based in Bengaluru, Karnataka.

To access the “VoiceSe UPI payments service” feature phone users need to call on the IVRS number 6366 200 200.  Every user can only proceed with the financial transaction through UPI PIN. They do not require internet connectivity or a smartphone for making payments. This is an all-inclusive technology that fills the gap in the existing financial ecosystem and brings many benefits to the customers.

 

2. HDFC Mutual Fund Launches #LaxmiForLaxmi: HDFC Mutual Fund has launched a women-led financial empowerment initiative ‘LaxmiForLaxmi’ which will connect women investors to a woman financial expert near them through a unique missed call service. The female financial expert will guide and address the queries of the woman investor. Through this initiative, HDFC Mutual Fund aims to support women investors in their journey to become financially independent while making mutual fund investments accessible to them.

About the initiative: The initiative is based on the fact that it is easier for a person to understand a concept when it is taught by someone who comprehends them and is like-minded. This is a financial empowerment campaign for women through which the fund house aims to support women investors in becoming financially independent while making mutual fund investments more accessible to them.

Note: HDFC Bank Headquarters: Mumbai; HDFC Bank Founded: August 1994; HDFC Bank CEO: Sashidhar Jagdishan; HDFC Bank Chairman: Atanu Chakraborty; HDFC Bank Tagline: We understand your world.

 

DEFENCE

 

1. Australia’s AARC tie up with India’s CLAWS: From March 8 to March 10, 2022, Lt Gen Richard Burr, the Chief of the Australian Army, was in India for three days. The Australian Army Chief paid a visit to the Centre for Land Warfare Studies (CLAWS), an Indian Army think tank in New Delhi. Lt. Gen Richard Burr met with Vice Chief of Army Staff Lt Gen Manoj Pande, Chairman, Board of Governors, CLAWS, and Director CLAWS, Lt Gen Dr Ranbir Singh (Retd). CLAWS research efforts and outreach strategies were briefed to the visiting General. On the sidelines of the tour, a Memorandum of Understanding (MoU) was signed between the Australian Army Research Centre (AARC) and the Centre for Land Warfare Studies (CLAWS) to create academic cooperation and engagement.