NATIONAL UPDATES:
1. PM
Narendra Modi dedicates Rashtriya Raksha University in Gandhinagar, Gujarat: Prime Minister
Narendra Modi has dedicated to the nation a new campus building complex of the
Rashtriya Raksha University (RRU) at Lavad village near Gandhinagar, Gujarat.
PM also addressed the first convocation of RRU Gandhinagar as a Chief Guest.
The University, which is an Institution of National Importance, commenced its
operations from 1st October 2020.
Key points:
a)
PM
Modi said, Rashtriya Raksha University, National Law University and National
Forensic Science University in Gujarat should come together for periodic
symposiums, which will help in creating a better security environment and
criminal justice system. He said, Gujarat has National Forensic Science
University and National Children University- two such universities first in the
world.
b)
The
Prime Minister highlighted the role of the first batch of any such institute in
taking the vision of the institution forward. He noted the contribution of the
old pharmacy college in Gujarat to turn the state into a leader in the
pharmaceutical field. Similarly, IIM Ahmedabad led the creation of a robust MBA
education system in the country.
About the University: Rashtriya Raksha
University (RRU) was set up to meet the need for high quality trained manpower
in various wings of policing, criminal justice and correctional administration.
The government set up a national police university named Rashtriya Raksha
University by upgrading the Raksha Shakti University which was established by
the Government of Gujarat in 2010.
2.
‘India Water Pitch-Pilot-Scale Challenge’ launched by Minister Hardeep Singh: Under the
Ministry’s Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0,
Union Minister of Housing and Urban Affairs (MoHUA) and Petroleum and Natural
Gas Shri Hardeep Singh Puri launched the ‘India WaterPitch-Pilot-Scale Start-up
Challenge.’ This comes after the Hon’ble Prime Minister’s ceremonial launch of
AMRUT 2.0 on October 1, 2021, stakeholder discussions in Lucknow (during
MoHUA’s Azadi ka Amrit Mahotsav festivities), and Cabinet approval of the Mission
on October 12, 2021.
Key Points:
a)
Technology
Sub-mission to engage startups as ‘Technology Partners’ has been approved by
Cabinet under AMRUT 2.0, in keeping with the vision of Hon’ble Prime Minister
of India.
b)
The
Mission’s goal is to help startups in the water/used-water sector thrive via
innovation and design, resulting in long-term economic growth and job creation.
c)
The
Ministry will select 100 start-ups to get Rs.20 lakhs in cash and mentorship as
part of this project.
3.
ISRO organized Young Scientist Programme “YUVIKA” for students: The Indian Space
Research Organisation (ISRO) is organizing a special programme for school
children called “YUva VIgyani KAryakram” (YUVIKA) or “Young Scientist
Programme”. Aimed at creating awareness about emerging trends in science and
technology, this programme is expected to encourage more students to pursue
research and a career in Science, Technology, Engineering and Mathematics
(STEM).
Programme details:
a)
The
ISRO Young Scientist Programme is a residential programme and will span over
two weeks during the summer vacations from May 16, 2022, to May 28, 2022.
b)
This
program includes invited talks, experience sharing by eminent scientists,
experimental demonstrations, facility and lab visits, exclusive sessions for
discussions with experts, practical and feedback sessions.
c)
A
total of 150 class 9 students across the country will be selected for the
programme.
d)
The
programme is planned at five centres of ISRO i.e. Vikram Sarabhai Space Centre,
U.R. Rao Satellite Centre, Space Application Centre, National Remote Sensing
Centre, Hyderabad and North-East Space Application Centre.
e)
Students
will be taken to visit Satish Dhawan Space Centre, Sriharikota, towards the end
of the project.
Note: Chairman and Space Secretary of ISRO:
Dr S Somanath; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15
August 1969.
4.
Geetanjali Shree’s translation ‘Tomb of Sand’ nominated for International
Booker Prize: Author
Geetanjali Shree’s translated Hindi novel “Tomb of Sand” is among 13 books
long-listed for the International Booker Prize. It is the first Hindi language
work of fiction to make it to the long list of the prestigious literary prize.
The book was originally published as ‘Ret Samadhi’ and translated into English
by Daisy Rockwell. It will compete for the GBP 50,000 prize, which is split
evenly between the author and translator.
5.
National Vaccination Day: 16th March: In India, the National Vaccination Day
(also known as National Immunisation Day (IMD)) is observed on 16 March every
year, to convey the importance of vaccination to the entire nation. The day was
first observed in the year 1995. In 2022, the National Immunization Day is
important since the Government of India has started the COVID-19 vaccination
for children between 15 to 18 years of age and booster dose for senior
citizens. The theme for National Vaccination Day or National Immunisation Day
2022 is “Vaccines Work for all”.
History of the day: It was in 1995
that India started the Pulse Polio Programme and the first dose of Oral Polio
Vaccine was given. According to the World Health Organization, immunization is
a process through which an individual’s immune system becomes fortified against
foreign harm causing agents.
INTERNATIONAL UPDATES:
1.
Ex-student protest leader, Gabriel Boric font becomes youngest President of
Chile: Gabriel
Boric Font has been appointed as the new and 36th President of Chile. The
36-year-old leftist is the youngest leader to hold the office in Chile’s
history. He succeeds Sebastián Piñera. Boric will hold the office for the
period between 2022-2026.
As a student representative, Boric became
one of the leading figures of the 2011–2013 Chilean student protests. Boric was
twice elected to the Chamber of Deputies representing the Magallanes and
Antarctic district, first as an independent candidate in 2013 and then in 2017
as part of the Broad Front, a left-wing coalition he created with several other
parties.
Note: Chile Capital: Santiago; Chile
Currency: Chilean peso.
2.
Global Investment in Digital Shopping 2021: India ranked 2nd: According to the
London & Partners analysis of Dealroom. co-investment data, India is the
second-largest global venture capital investment hub for digital shopping
companies, growing by a whopping 175% from $8 billion in 2020 to $22 billion in
2021. On a global scale, India came in second to the US last year, which
attracted $51 billion in investment, followed by China at third with $14
billion and the UK at fourth with $7 billion.
Within India, Bengaluru comes out on top
globally with $14 billion worth of Venture Capital (VC) investments in digital
shopping in 2021, followed by Gurugram at No. 7 with $4 billion and Mumbai at
No. 10 with $3 billion.
Ranking:
|
Rank |
Country |
Investment |
|
1 |
United States (US) |
USD 51 billion |
|
2 |
India |
USD 22 billion |
|
3 |
China |
USD 14 billion |
|
4 |
United Kingdom |
USD 7 billion |
OTHER UPDATES:
SPORTS
1.
Shreyas Iyer and Amelia Kerr named ICC Players of the Month for February 2022: The International
Cricket Council (ICC) has announced India’s star all-format batter Shreyas Iyer
and White Ferns all-rounder Amelia Kerr were voted ICC Players of the Month for
February 2022. Fans can continue to vote every month for their favourite male
and female cricketers across all formats of international cricket as part of
the ICC Player of the Month initiative.
In men’s category: Shreyas Iyer, the
fast-rising India batter, has won the ICC ‘Men’s Player of the Month’ for
February 2022. Shreyas Iyer earned the ICC Player of the Month award on the
back of his brilliant white-ball exploits during the home series against West
Indies and Sri Lanka respectively last month.
Among the women category: New Zealand
all-rounder Amelia Kerr bagged the ICC ‘Women’s Player of the Month award for
February 2022. Amelia Kerr, the 21-year-old New Zealand all-rounder, was named
the Women’s POTM, following her supreme consistency with both bat and ball during
the home white-ball series against India. Kerr was chosen ahead of fellow
nominees, India captain Mithali Raj and all-rounder Deepti Sharma for the
award.
BANKING AND FINANCE
1.
EPFO lowers the interest rate on PF deposits to 8.1% for 2021-22: The retirement fund
body, Employees Provident Fund Organisation (EPFO) has slashed the interest
rate on provident fund deposits to 8.10% for 2021-22. This rate is 0.4% lower
than the previous year. The interest rate on PF deposits was 8.5% in 2020-21
and 2019-20.
Key points:
a)
This
is the lowest in more than four decades. EPFO had credited 8.0% as interest
rate in 1977-78. Since then, it has been either 8.25% or more.
b)
The
interest rate of 8.1% has been declared based on EPFO’s estimated income for
the year at Rs 76,768 crore and this will leave the retirement fund body with a
surplus of Rs 450 crore.
c)
The
move is expected to hit the earnings of over sixty million EPFO subscribers.
Previous rates:
a)
EPFO
had provided 8.65 % interest rate to its subscribers in 2016-17 and 8.55 % in
2017-18.
b)
The
rate of interest was slightly higher at 8.8 % in 2015-16.
c)
It
had given 8.75 % rate of interest in 2013-14 as well as 2014-15, higher than
8.5 % for 2012-13.
d)
The
rate of interest was 8.25 % in 2011-12.
BUSINESS AND ECONOMY
1.
Morgan Stanely projects India’s GDP for FY23 at 7.9%: Rating Agency
Morgan Stanely has projected India’s GDP growth forecast for 2022-23 (FY23) at
7.9%. This is 50 bps less than its earlier projection due to the impact of the
Russia-Ukraine conflict on oil prices. Furthermore, Stanley raised the
country’s retail inflation estimate to 6%, meanwhile, current account deficits
are seen to widen by 3% of GDP.
India is affected through three key
channels — higher prices for oil and other commodities; trade, and tighter
financial conditions, influencing business/investment sentiment. Analysts at
the brokerage also raised their inflation forecast to 6 per cent – the upper end
of the tolerance band for the RBI – and flagged stagflation risks because of
the ongoing events.
2.
Ajay Bhushan Pandey appointed as chairman of the NFRA: Ajay Bhushan
Pandey has been appointed as the chairman of the National Financial Reporting
Authority (NFRA) for a period of 3 years. Pandey, a 1984-batch Maharashtra
cadre IAS officer, retired as revenue secretary in February last year. The
Appointments Committee of the Cabinet (ACC) has approved the appointment of
former revenue secretary ABP Pandey as the chairperson of NFRA for a period of
three years from the date of assumption of charge or till the incumbent attains
the age of 65 years.
About the NFRA: The NFRA acts as
an independent regulator for the auditing profession. The body has powers to review
the financial statement of companies, can seek explanations and probe
irregularities with respect to accounting and auditing issues. The setting up
of the NFRA, envisaged under the Companies Act, 2013, was approved by the
Cabinet in May 2018.
OBITUARIES
1.
Former Zambian President Rupiah Banda passes away: The former
President of Zambia, Rupiah Banda has passed away after a two-year battle with
cancer. He was 85. Banda had served as the fourth president of Zambia from 2008
and 2011. Banda had held senior diplomatic posts under first President Kenneth
Kaunda before being eventually named as vice president in 2006 by
then-President Levy Mwanawasa. Banda served as acting president in mid-2008
when Mwanawasa suffered a stroke. Banda narrowly won the October elections the
same year on a ruling party ticket.
Note: Zambia Capital: Lusaka; Currency: Zambian kwacha.
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