NATIONAL UPDATES:
1.
India’s first steel road featured in Gujarat: Surat, Gujarat,
features a road created entirely of steel waste, which is one of the best
instances of sustainable development. ArcelorMittal Nippon Steel India
collaborated on the steel slag road with the Council of Scientific and
Industrial Research (CSIR) India, the Central Road Research Institute (CRRI),
and the government think tank Niti Aayog.
Key Points:
a)
The
Hazira Industrial Area in Surat, Gujarat, has created a one-of-a-kind road.
b)
The
road was constructed entirely of 1000 percent processed steel slag. Steel slag
is a major source of concern for the steel industry because it is regarded as a
waste product.
c)
The
trial project is a one-kilometre road with six lanes. So far, the path has
proven to be reliable. Every day, almost 1,000 trucks, weighing between 18 and
30 tonnes, drive along the steel road.
d)
Various
plants across the country produce millions of tonnes of steel waste each year,
which is disposed of in landfills. This one-of-a-kind initiative will now not
only make use of a previously underutilised resource but will also result in
more durable roadways.
2.
Ahmedabad IIM sets up retail tech consortium: The Indian
Institute of Management (IIM) in Ahmedabad’s Centre for Digital Transformation
recently launched a retail tech consortium, with intentions to partner with a
number of retail and technology companies in India. The consortium, according
to the centre, will strive to improve collaboration among retail technology
firms in the country. Flipkart has joined the consortium as a main partner for
the first year, bringing its industry knowledge, experience, and consumer
insights into the internet ecosystem to the table. This collaboration would
bring neutral customer perspectives on retail digitalization to the fore,
allowing merchants to better understand their customers.
3.
AAI and BEL collaborated to develop indigenous Air Traffic Management Systems: Airports Authority
of India (AAI) has signed an agreement with Defence Public Sector Undertaking
Bharat Electronics Limited (BEL) for the joint indigenous development of
systems for air traffic management and surface movement of aircraft at airports
across the country, which were previously imported.
Key Points:
a)
BEL
and AAI will collaborate to develop the Civil Air Traffic Management System
(ATMS) with Advanced-Surface Movement Guidance and Control System (ASMGCS), a
complex ground surveillance system that manages air traffic at airports and in
Indian civil airspace to ensure safe flight operations from take-off to
landing.
b)
In
order to guarantee safe surface mobility in all weather situations at the
airport, ASMGCS provides routing, guidance, and surveillance services to
aircraft and vehicles on the ground.
c)
The
goal of ATMS with ASMGCS is to provide the air traffic controller with a
complete air traffic picture of the coverage area while interacting with
primary or secondary radar, ADS-B, Multilateration System (MLATs), and
navigational equipment such as GPS, Instrument Landing System (ILS), and
Doppler Very High Frequency Omni Range (DVOR).
d)
It
also communicates with other systems such as the Aeronautical Fixed
Telecommunications Network (AFTN), the Airport Operational Database (AODB), the
Airport Collaborative Decision Making (ACDM), and the Centralised Air Traffic
Flow Management system (CATFM).
4.
Lt. Gen. Vinod G. Khandare appointed as Adviser in Defence Ministry: Lieutenant General
Vinod G. Khandare (retired) has been appointed as Adviser in the Ministry of
Defence, providing strategic insights and advise on matters relevant to defence
strategy to the Defence Secretary. The role’s mandate would be to provide
strategic inputs and advise on matters relating to defence strategy, readiness,
and associated activities, such as the International Defense Corporation,
maritime security, and defence space.
5.
Mahatma Gandhi’s granddaughter launched a Website ‘Modi Story’: The granddaughter
of Mahatma Gandhi ‘Sumitra Gandhi Kulkarni’ has inaugurated the web portal
‘Modi Story’. The Modi story website is a volunteer-driven initiative which
aims to bring together “inspiring” stories related to Prime Minister Narendra
Modi from those who have interacted with him during his life journey over the
decades. The portal can be accessed at modistory.in
Any person who has closely witnessed the
Prime Minister’s life can submit write-ups, audio or visual stories of any such
experience or anecdote along with photos with PM Modi, letters or personal
memorabilia associated with him. The website has several stories shared by the
people who crossed paths with the Prime Minister at some point in his life.
INTERNATIONAL UPDATES:
1.
NATO extended Jens Stoltenberg’s term by a year: According to a
NATO statement, the North Atlantic Treaty Organisation (NATO) extended
Secretary-General Jens Stoltenberg’s tenure by a year until September 30, 2023.
After a NATO conference in Brussels, US President Joe Biden and other NATO
leaders decided to extend Stoltenberg’s tenure. In October 2014, Stoltenberg, a
former Norwegian prime minister, was named NATO Secretary-General. In September
2021, his term was set to end.
2.
US, Philippines kick off ‘Balikatan 2022’ largest-ever military drills: The United States
military and the military of the Philippines kicked off the military drill
Balikatan 2022. The Philippine-led annual exercise will take place across Luzon
in the Philippines region near Taiwan, from March 28 to April 8, 2022. Around
8,900 Filipino and American troops are participating in the military drill, making
it the largest Balikatan military exercise ever.
According to the military, the drills will
focus on “maritime security, amphibious operations, live-fire training, urban
operations, aviation operations, counterterrorism, and humanitarian assistance
and disaster relief”. The Visiting Forces Agreement (VFA) gives US troops a
legal basis to be in the Southeast Asian country for bilateral exercises and
governs the conduct of American armed force personnel.
Note: Philippines Capital: Manila;
Philippines Currency: Philippine peso; Philippines President: Rodrigo Duterte.
OTHER UPDATES:
SPORTS
1.
Max Verstappen wins 2022 Saudi Arabian Grand Prix: Max Verstappen (Red
Bull – Netherlands) has won the Formula One 2022 Saudi Arabian Grand Prix at
Jeddah Corniche Circuit, Saudi Arabia. Charles Leclerc (Ferrari- Monaco) came
second and Carlos Sainz Jr. (Ferrari – Spain) came third. It was the second edition
of the Saudi Arabian Grand Prix and the second round of the 2022 Formula One
World Championship. Lewis Hamilton managed to get a point on the board after
coming 10th.
BANKING AND FINANCE
1.
RBI Governor dedicates Varnika Ink Manufacturing Unit of BRBNMPL: Bharatiya Reserve
Bank Note Mudran Private Limited (BRBNMPL) has set up an Ink Manufacturing Unit
named “Varnika” at Mysuru, Karnataka, with an annual ink manufacturing capacity
of 1,500 MT to enhance the security of banknotes. Bharatiya Reserve Bank Note
Mudran Private Limited (BRBNMPL) a wholly-owned subsidiary of RBI. Shaktikanta
Das (Governor of RBI) has dedicated “Varnika”, the Ink Manufacturing Unit of
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) to the nation.
It is a boost to the ‘Make in India’
initiative. It ensures that the entire requirement of banknote printing inks is
produced in-house. This unit also manufactures Colour Shift Intaglio Ink (CSII)
and meets the entire requirements of banknote printing presses in India, which
has resulted in cost efficiency and self-sufficiency in banknote ink
production.
BUSINESS AND ECONOMY
1.
Russia- Ukraine Conflict affect on India’s GDP growth: According to a UN
report released, India’s projected economic growth for 2022 has been downgraded
by more than 2% to 4.6 percent, a decrease attributed to the ongoing war in
Ukraine. New Delhi is expected to face restrictions on energy access and
prices, as well as trade sanctions, food inflation, tightening policies, and
financial instability.
Russia-Ukraine war effect on the
worldwide economy:
a)
Due
to disruptions from the Ukraine crisis and changes in macroeconomic policies
that put developing nations in particular at risk, the UN Conference on Trade
and Development (UNCTAD) has lowered its global economic growth prediction for
2022 to 2.6 percent from 3.6 percent.
b)
While
Russia is anticipated to enter a serious recession this year, major economic
slowdowns are expected in regions of Western Europe and Central Asia, according
to the analysis.
c)
While
some other economies in South and Western Asia may profit from rapid increase
in energy demand and pricing, they will be plagued by difficulties in primary
commodity markets, particularly food inflation, and will be further harmed by
underlying financial instabilities.
d)
Trade
with China and other partners will continue, but they will not be able to
compensate for the large number of imported commodities that the Russian
Federation is currently unable to obtain.
e)
The
war has increased the upward pressure on worldwide energy and primary commodity
prices, stretching household budgets and increasing production costs, while
trade disruptions and sanctions are expected to chill long-term investment.
Effect on Indian Economy:
a)
In
2022, India was expected to grow at 6.7 percent, but UNCTAD has cut that
forecast to 4.6 percent.
b)
India
will be constrained on multiple fronts, including energy access and prices,
primary commodity constraints, trade sanctions’ repercussions, food inflation,
tighter policies, and financial instability.
c)
The
currencies of Brazil, Russia, India, and China account for less than 3.5
percent of the USD 6.6 trillion daily turnover in the currency markets, a ratio
that is less than one-tenth of the 44 percent held by the US dollar.
2.
PFRDA and IRDAI granted licence to FinMapp to sell NPS, insurance: FinMapp, a
financial services firm, announced that it has been granted a licence under the
National Pension Scheme by the Pension Fund Regulatory and Development
Authority (PFRDA). It has also obtained a registration certificate as a
corporate agent from the Insurance Regulatory and Development Authority of
India (Irdai).
Key Points:
a)
The
licences would allow FinMapp to provide insurance and NPS products to its
clients as a verified seller, allowing the company to extend its customer base,
according to the company’s statement.
b)
In
the next months, the company will make NPS available as an investment tool on
its app.
c)
The
IRDAI & PFRDA certificate marks a crucial milestone in our development.
d)
It
will assist us in strengthening our financial services and validating our
status as a legitimate seller of NPS and other similar products.
e)
It
will aid with the strengthening of our financial services and the validation of
our status as a legitimate vendor of NPS and insurance products.
AWARDS AND HONOURS
1.
Prof Wilfried Brutsaert bags Stockholm Water Prize 2022: Professor Emeritus
Wilfried Brutsaert has been named as the Stockholm Water Prize Laureate 2022.
He has been awarded for his groundbreaking work to quantify environmental
evaporation. Wilfried Brutsaert is Professor in Engineering Emeritus at Cornell
University, USA. His innovative works on Evaporation and Hydrology are of
lasting theoretical and practical importance, particularly in view of climate
change. In addition, Wilfried Brutsaert has pioneered novel approaches to
understanding changes in groundwater storage.
About the award: The Stockholm
Water Prize is the world’s most prestigious water award and is often described
as the Nobel Prize of water. The prestigious Prize has been awarded since 1991
to people and organizations for extraordinary water-related achievements. The
Prize is awarded by the Stockholm International Water Institute (SIWI) in
cooperation with the Royal Swedish Academy of Sciences.
Note: SIWI Headquarters location:
Stockholm, Sweden; SIWI Executive Director: Torgny Holmgren; SIWI Founded:
1991.
2.
Cochin International Airport bagged ‘Covid champion’ award at Wings India 2022:
The
Cochin International Airport Limited (CIAL) has won the ‘Covid champion’ award
at Wings India 2022. The Covid champion award was received by CIAL Managing
Director S Suhas IAS from Civil Aviation Minister, Jyotiraditya Scindia. CIAL
has been awarded for the successful implementation of a meticulous project
named ‘Mission Safeguarding’ during the pandemic time to ensure safe travel at
Kochi Airport.
Other awardees:
a)
The
Kempegowda International Airport in Bengaluru won two the ‘Best Airport’ under
the General Category and the ‘Aviation Innovation’ Award at the event.
b)
Mumbai’s
Chhatrapati Shivaji Maharaj International Airport (CSMIA) won the ‘Aviation
Sustainability & Environment’ award by Wings India Awards 2022 for its
efficient green practices. The accolade comes as a recognition of CSMIA’s commitment
and relentless efforts towards implementing sustainable initiatives as well as
inching closer to being one of the country’s most eco-friendly airports.
DEFENCE
1.
Western Naval Command conducts security exercise ‘Prasthan’ in Mumbai Offshore:
The
Western Naval Command of the Indian Navy organised an offshore security
exercise, ‘Prasthan’ in the Offshore Development Area (ODA) off Mumbai. This
exercise is conducted after every six months, to ensure offshore security.
Apart from the Naval forces, the exercise saw participation from the Indian Air
Force, Coast Guard, ONGC, Mumbai Port Trust, Jawahar Lal Nehru Port Trust,
Customs, state fisheries department, Mercantile Marine Department and the
Marine Police. The day-long exercise resulted in improving standard operating
procedures (SOPs) and response-actions to a number of contingencies in the
Offshore Defence Area off Mumbai.
About the exercise: The exercise was
conducted on the B-193 platform of ONGC located about 38 nm west of Mumbai.
Contingencies such as terrorist intrusion, bomb explosion, casualty evacuation,
search and rescue, man overboard, major fire, oil spill and mass evacuation
were exercised. The exercise provided all stakeholders a realistic experience
to assess their readiness to respond and combat contingencies in the Western
ODA, as also to operate together in a coordinated and synergised manner.
Note: Chief of Naval Staff: Admiral R Hari
Kumar; Indian Navy Founded: 26 January 1950.
2.
President Kovind presents President’s Colour to INS Valsura: President of India,
Ram Nath Kovind has presented the prestigious President’s Colour to Indian
Naval Ship (INS) Valsura at Jamnagar in Gujarat. The ‘Nishan Adhikari’ Lt Arun
Singh Sambyal received the President’s Colour on behalf of the unit, for its 80
years of exceptional service. INS Valsura is a premier training facility of the
Indian Navy established on December 05, 1942, in Jamnagar of Gujarat, to
provide training in the domain of Torpedo handling (Underwater missile) and
operations.
About the President’s Colour: The President’s Colour is bestowed upon a military unit in recognition of exceptional service rendered to the Nation, both in peace and in war. The Indian Navy was the first Indian Armed Force, to get President Colour by then President Dr Rajendra Prasad on 27 May 1951.
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