Daily GK Update- 19th Mar, 2022

 

NATIONAL UPDATES:

 

1. Nation’s first AI & Robotics Technology Park (ARTPARK) launched in Bengaluru: The country’s first Artificial Intelligence & Robotics Technology Park (ARTPARK) was launched in Bengaluru, Karnataka. It is promoted by a not-for-profit foundation set up by the Indian Institute of Science (IISc) Bengaluru, with a seed capital of Rs. 230 crore from the State and Central governments. ARTPARK (AI and Robotics Technology Park) along with AI Foundry is going to launch a $100 million venture fund to support AI and robotics innovations in India. The fund will be backed by the government, private companies, and VCs. The lab has technical teams working in collaboration with multiple labs at IISc. It will also work with other technical institutes and bodies, including the Indian Institute of Technology (IIT) Kanpur, IIT Jodhpur, the University of Aalto in Finland, Indian Council of Medical Research and the All India Institute of Medical Sciences.

About the ARTPARK:

a)      ARTPARK intends to use futuristic technologies to connect the unconnected will work with a focus on creating a globally leading AritificiaI Intelligence and Robotics Innovation ecosystem in India.

b)      The ARTPARK has the objective of channelizing innovations to create a societal impact by executing ambitious mission-mode R&D projects in healthcare, education, mobility, infrastructure, agriculture, retail, and cyber-security aiming to solve problems unique to India.

 

2. Bhagwant Mann sworn in as new chief minister of Punjab: Bhagwant Mann was sworn in as the 18th chief minister of Punjab at Khatkar Kalan, the ancestral village of Bhagat Singh in the presence of Governor Banwarilal Purohit. The Aam Aadmi Party romped home winning 92 seats in the 117-member Punjab Assembly, decimating the Congress and the SAD-BSP combine. Chanting ‘Jo Bole So Nihal’ and ‘Bharat Mata Ki Jai’, Bhagwant Mann thanked the people who attended the swearing-in ceremony. Mann ended his speech with ‘Inquilab Zindabad’ (long live the revolution).

Besides newly-elected AAP MLAs, Delhi Chief Minister Arvind Kejriwal and other senior party leaders were also present at the ceremony. Among other leaders present at the ceremony are Deputy CM of Delhi Manish Sisodia and Delhi environment minister Gopal Rai.

 

3. Delhi govt launched ‘My EV’ portal for registering and purchasing e-autos: The Delhi government has launched an online ‘My EV‘ (My Electric Vehicle) portal for the purchase and registration of electric autos in Delhi. It is accessible to all users on the website of the transport department of Delhi. Under the Delhi Electric Vehicle Policy, a 5% interest rate subvention will be provided on the purchase of e-autos on loans and become the first state to provide such a facility. The web portal was developed with the collaboration of the Delhi government and Convergence Energy Services Limited (CESL).

CESL has empanelled six Financial Institutions (FIs) – Mahindra Finance, Akasa Finance, Mannapuram Finance, RevFin, and Prest Loans to provide loans to EVs at attractive terms. The Interest subvention on the purchase of EVs is in addition to the applicable purchase incentive of INR 30,000 and scrapping incentives of up to INR 7,500 under the Delhi EV Policy. The consumer will be able to avail of up to INR 25,000 additional benefits.

Note: Delhi Chief Minister: Arvind Kejriwal; Delhi Lieutenant Governor:  Anil Baijal.

 

4. N Chandrasekaran named as chairman of Air India: The chairman of Tata Sons, N Chandrasekaran has been appointed as the chairman of Air India. In February 2022, N Chandrasekaran was reappointed as chairman of Tata Sons for a second term of five years. Tata Sons will soon announce a new MD and CEO for Air India to replace Ilker Ayci who was to take charge next month but resigned in the wake of controversies regarding his appointment.

Chandrasekaran also serves as the non-executive chairman of several other Tata Group companies, including Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals and Tata Consumer Products. He was reappointed Tata Sons’ executive chairman last month for another five years.

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

 

5. Oscars 22: India’s ‘Writing with Fire’ nominated in Best Documentary feature category: A documentary about the Dalit-led, all-woman newspaper Khabar Lahariya, “Writing With Fire” became the first Indian documentary to be nominated at the Oscars. ‘Writing With Fire’ had won Audience and Jury Awards at the Sundance Film Festival last year. It is produced by Ticket Films and directed by filmmakers Rintu Thomas and Sushmit Ghosh. ‘Khabar Lahariya’ is a newspaper founded in May 2002 in Chitrakoot, Uttar Pradesh.

Other nominees in the category are: “Ascension”, “Attica”, “Flee”, and “Summer of Soul (Or, When the Revolution Could Not Be Televised)”.

 

6. A book titled ‘Modi@20: Dreams Meet Delivery’ released soon: The Bharatiya Janata Party (BJP) has announced to release a book on the life of Prime Minister Narendra Modi titled Modi@20: Dreams Meet Delivery. It is set to hit stands in April 2022. The book is a compilation of pieces written by intellectuals & experts and has been edited & compiled by BlueKraft Digital Foundation.

The essence of the book: The book captures the political life of PM Modi’s past 20 years, ranging from his tenure as Gujarat CM to Prime Minister of India and has been compiled by eminent intellectuals and personalities from industry and politics. Those who have contributed to the book include Sudha Murty, Sadhguru, Nandan Nilekani, Home Minister Amit Shah, External Affairs Minister S Jaishankar, late legendary singer Lata Mangeshkar, National Security Adviser Ajit Doval, industrialist Uday Kotak, actor Anupam Kher, badminton star PV Sindhu and former principal secretary to PM Nripendra Mishra.

 

INTERNATIONAL UPDATES:

 

1. Revoking Russia’s Most Favored Nation Trade Status: US: President Biden announced that the United States—along with the G7, the European Union, and NATO—will revoke Russia’s Most Favored Nation (MFN) trade status. Revoking Russia’s PNTR status will allow the United States to increase and impose new tariffs on all Russian imports. In the US, the “most favoured nation” status is also known as permanent normal trade relations (PNTR). Only North Korea and Cuba do not enjoy the “most favoured nation” status from the US.

The main aim of this step is to punish the Russian government for its invasion of Ukraine. The United States will also not export luxury goods to Russia. Earlier, the United States has banned the import of Oil and energy from Russia. This action will cause economic harm to Russia by damaging its ability to export to wealthier Western markets; it will also raise costs for Americans and our trading partners that may rely on affected Russian products.

Most Favored Nation status: A most favoured nation status designation means two countries have agreed to trade with each other under the best possible terms — low tariffs, few barriers to trade and the highest possible imports allowed.

 

OTHER UPDATES:

 

SPORTS

 

1. FIDE Chess Olympiad 2022 will be held in Chennai: India has been picked as the host nation for the FIDE Chess Olympiad 2022. The 44th edition of the Olympiad is scheduled to be held in Chennai, from 26th July 2022 to 8th August 2022. This is the first time that India will host the FIDE Chess Olympiad since its inception in 1927. The event was originally scheduled to be held in Russia, but FIDE pulled out from there following the Ukraine invasion.

The venue will be the Four Points by Sheraton Mahabalipuram Resort & Convention Center, 60 kilometres south of central Chennai. It is located in Mamallapuram, one of the famous tourist sites in India and a UNESCO World Heritage Site of seventh- and eighth-century Hindu monuments.

 

BUSINESS AND ECONOMY

 

1. Rs 1.42 lakh crore budget for Jammu and Kashmir for FY 2022-23, presented by Finance Minister Nirmala Sitharaman: In the Lok Sabha, Finance Minister Nirmala Sitharaman proposed a Rs 1.42 lakh crore budget for the union territory of Jammu and Kashmir for the fiscal year 2022-23, despite opposition pleas for more time to review the plans. Sitharaman also tabled the Union Territory’s additional demands for the fiscal year 2021-22, totaling Rs 18,860.32 crore, and moved a resolution to suspend certain norms to allow the House to take up the debate on the same day.

Key Points:

a)      Manish Tewari of the Congress and N K Premachandran of the RSP both objected to Sitharaman’s motion, claiming that Rule 205 is part of the basic rules of process and cannot be waived.

b)      Some rules are beyond the House’s power to change. Tewari, a Congress member from Anandpur Sahib, said that MPs needed more time to consider the government’s budget recommendations for Jammu and Kashmir.

c)       Speaker Om Birla authorised the business for the day during the Business Advisory Committee meeting, according to Rajendra Agarwal, who was in the chair.

d)      According to Tewari, the Lok Sabha’s obligation is complicated because it is adopting the responsibility of the Jammu and Kashmir legislature, which should have taken up the issue.The budget papers had not been issued by the government, he stated, advising that the meeting be rescheduled for Tuesday to allow members to read the ideas and offer reasoned objections.

e)      The member from Kollam, Premachandran, claimed that the minister had also requested a joint discussion on the budget plans and the supplemental need for funds, which would be against the rules.

 

2. Shubman Gill & Ruturaj Gaikwad named as brand ambassadors for My11Circle: Games24x7 Private Limited, India’s leading digital skill games company, has appointed Indian cricketers Shubman Gill and Ruturaj Gaikwad as its new brand ambassadors for its My11Circle fantasy gaming platform. Both of them will feature in the multimedia campaigns of Games24x7 across TV, digital and social media platforms.

Games24x7, founded by Bhavin Pandya and Trivikraman Thampy in 2006, offers a range of skill games (RummyCircle, My11Circle, Carrom) and casual games (U-Games). My11Circle is also the official title sponsor of the new Indian Premier League(IPL) team Lucknow Super Giants. In January 2022, Games24x7 has appointed Bollywood actor Hrithik Roshan as its brand ambassador for the online skill gaming platform.

 

AWARDS AND HONOURS

 

1. Axis Bank won ‘Asian Bank of the Year’ at IFR Asia Awards 2021: India’s third-largest private sector bank, Axis Bank has been awarded IFR Asia’s Asian Bank of The Year, for its breadth of coverage and depth of expertise in the Asian investment banking space. The award acknowledges the bank’s outstanding performance in equity and debt issuance, across all major products and segments. Axis Bank was the only local house to serve as a global coordinator for the record Rs. 183 Bn Paytm IPO, and was also the global coordinator for Macrotech Developers’ Rs. 25 Bn IPO.

This year, the bank has also won the ‘Best DCM House in India’ Award at the Finance Asia’s Country Awards. Axis Bank has been No. 1 on the Bloomberg League Table ranking for 15 consecutive calendar years and has maintained its leadership position in the domestic Debt Capital Market.

Globally: Morgan Stanley has been honoured with the Bank of the year award at the IFR Asia Award 2021 and the JSW Group has been awarded with the Issuer of the year award. The awards are organized by IFR Asia, a Hong Kong-based provider of capital markets intelligence.

 

2. Narayan Pradhan named for GD Birla Award for Scientific Research: Professor Narayan Pradhan has been selected for the 31st GD Birla Award for Scientific Research for his outstanding contribution in the field of material sciences. He has provided his expertise in crystal modulations to help design new shapes of these tiny lighting materials.

Pradhan’s research work focused on understanding the chemistry and physics of light-emitting semiconductor nanocrystals. His research group has significantly contributed to the surface construction of the newly emerged light-emitting halide perovskite nanocrystals, which are expected to be the next-generation lighting materials for photovoltaics and making LEDs. He has provided his expertise in crystal modulations to help design new shapes of these tiny lighting materials.

About the award: Instituted in 1991, the award recognises eminent Indian scientists below the age of 50 for their original and outstanding contributions to any branch of science. It carries a cash prize of Rs 5 lakh. The recipient is chosen by a selection board, whose present head is professor Chandrima Shaha, the president of the Indian National Science Academy (INSA).