Daily GK Update- 19th April, 2022

 

NATIONAL UPDATES:

 

1. (e-NAM) National Agriculture Market Completed 6 years: e-NAM marks the sixth anniversary of the National Agriculture Market (e-NAM), a pan-India electronic trade network. To ease online trade of agricultural commodities, the flagship programme incorporates physical wholesale mandis and markets from several States and Union Territories. The Small Farmers Agribusiness Consortium is implementing e-NAM, which was launched on April 14th in 2016 by Prime Minister Narendra Modi. It is completely funded by the Central Government.

eNAM: The National Agriculture Market (eNAM) is a pan-India electronic trading system that connects the existing APMC mandis to form a unified national agricultural commodities market. Under the Ministry of Agriculture and Farmers’ Welfare of the Government of India, the Small Farmers Agribusiness Consortium (SFAC) is the key agency for implementing eNAM.

 

2. IIT Guwahati collaborated with NTPC to develop energy efficient tech to capture CO2: The Indian Institute of Technology, Guwahati, has teamed up with the National Thermal Power Corporation (NTPC) to design and construct a highly energy-efficient CO2 collection system from power plants. A research team led by Prof. Bishnupada Mandal, Department of Chemical Engineering, IIT Guwahati, developed this indigenous technique, which could be copyrighted soon. Key Points:

a)      The oil, natural gas, and biogas industries, as well as petroleum refineries, will benefit from the project’s outputs. It also has the potential to save India money in terms of foreign exchange.

b)      This project will also assist and strengthen the UN’s Sustainable Development Goals (SDGs) through its research and education. This development has the potential to aid in the fight against global warming.

c)       The study’s next phase will entail pilot-plant testing using industrial flue gas.

d)      This method, which uses a newly activated amine solvent (IITGS) to work on flue gas, uses up to 11% less energy than the commercial activated MDEA solvent and up to 31% less energy than the benchmark MEA (Monoethanolamine) solvent. This technology is used in coal and gas-fired power stations to produce modest amounts of food-grade CO2 (compared to CO2 capture in power plants). However, if used for large-scale CO2 capture in power plants, the method is energy-intensive.

e)      IIT Guwahati has devised an amine-based technique for CO2 extraction from flue gas that is both energy-efficient and cost-effective.

 

3. PM Narendra Modi Inaugurates 108 ft tall statue of Lord Hanuman ji in Gujarat: The Prime Minister of India, Narendra Modi has unveiled a 108 ft statue of Lord Hanuman ji in Morbi, Gujarat, at the Ashram of Bapu Keshvanand ji, via video conferencing, on the occasion of Hanuman Jayanti. This statue is the second among the four statues being built in the four directions across the country, as part of the ‘Hanumanji Char Dham’ project.

The first such grand statue of Hanuman Ji was inaugurated in the North in Shimla, Himachal Pradesh in 2010. The statue at Morbi has been set up in the West. The third statue will be set up in the South at Rameswaram, Tamil Nadu. Similarly, the final statue will be established in East in West Bengal.

 

4. Haat” 40th edition organised in Mumbai: Union minister Anurag Thakur will open the 40th edition of “Hunar Haat,” a forum to preserve, protect, and promote local artists and craftsmen.”Hunar Haat” is bolstering Prime Minister Narendra Modi’s appeal for “voice for local” and “Aatmanirbhar Bharat”.

Key Points:

a)      The 40th edition of the project, which was inaugurated by Union Ministers for Information and Broadcasting, Youth Affairs and Sports, will bring together at least 1,000 artisans and craftsmen from across the country.

b)      “Hunar Haat” has offered employment to over 9 lakh artists and craftsmen in just six years, in addition to promoting ancestral arts and crafts even in distant corners of the country.

c)       More than half of these recipients are women.

d)      Women craftsmen make up more than half of the recipients.

e)      Every “Hunar Haat” has an average of 8 to 10 lakh visitors. According to the report, over 4 crore people attended 39 “Hunar Haats” across the country to buy indigenous products, support artisans and craftsmen, and enjoy various musical and cultural programmes.

 

INTERNATIONAL UPDATES:

 

1. Israel successfully tests ‘Iron Beam’ new laser-based air defence system: Israel successfully tested a new laser missile-defence system ‘Iron Beam‘ which can destroy any airborne object including drones. Iron Beam is the world’s first energy-based weapons system that uses a laser beam to shoot down incoming UAVs, rockets, mortars, long-range missiles, anti-tank missiles etc. The Iron Beam which is developed by the Rafael Advanced Defense Systems is using a directed-energy weapon system and can go a long way in providing aerial defence.

Iron Beam: Iron Beam works on a fibre laser system to destroy any airborne object. Iron Dome defense system has been a great success, with a 90% interception rate against incoming rocket fire.

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

 

2. India gets elected in 4 UN ECOSOC Bodies 2022: India has been elected to the United Nations Economic and Social Council’s (ECOSOC) four major bodies, including the Commission on Science and Technology for Development. To the Committee for Economic, Social and Cultural Rights, Ambassador Preeti Saran has been re-elected. In 2018, she was first elected to the Asia Pacific seat on the UN’s Committee on Economic, Social, and Cultural Rights. On 1st January 2019, her first four-year term began. The 4 bodies to which India has been elected:

a)      Commission of Social Development (CSocD): Since the World Summit for Social Development in Copenhagen, the Commission for Social Development (CSocD) has become the key body of the United Nations which is in charge of the follow-up and the implementation of the Copenhagen Declaration and Programme for Action. The purpose of CSocD is to advise ECOSOC on social policies of a general character, and in particular on all the matters in the social field that are not covered by specialized inter-governmental agencies.

b)      Committee on Non-Governmental Organisations: It is a standing Committee of the Economic and Social Council which was established in 1946. The main tasks of the Committee on Non-Governmental Organisations are the consideration of applications for consultative status and requests for reclassification submitted by the non-governmental organisations.

c)       UN Commission on Science and Technology for Development: CSTD is a subsidiary body of the Economic and Social Council which holds an annual intergovernmental forum for the discussion on timely and pertinent issues affecting technology, science, and development. Outcomes of the Commission on Science and Technology for Development include providing the UNGA and ECOSOC with high-level advice on the relevant science and technology issues.

d)      Committee on Economic, Social and Cultural Rights: CESCR is a body of 18 independent experts that monitors the implementation of the International Covenant on Economic, Social, and Cultural Rights by its State Parties. Committee on Economic, Social, and Cultural Rights enshrines the rights to adequate food, adequate education, health, housing, water and sanitation, and work.

 

3. World Liver Day: 19th April: World Liver Day is observed on 19 April annually to spread awareness about the causes of liver disease and tips for its prevention so as to take holistic care of the liver. The liver is the second largest and the second most complex organ in the body, after the brain. It performs crucial body functions and is associated with a person’s digestion, immunity, metabolism, and nutrition storage. The liver regulates blood sugar, removes toxic substances from the body, helps blood clot, and controls cholesterol levels.

 

OTHER UPDATES:

 

SPORTS

 

1. Odisha CM unveils logo of 2023 Men’s Hockey World Cup: Odisha Chief Minister Naveen Patnaik has unveiled the logo of the 2023 FIH Men’s Hockey World Cup at the Kalinga stadium in the capital Bhubaneswar. To be held in the twin cities of Bhubaneswar and Rourkela, the prestigious quadrennial tournament is scheduled from January 13 to 29.

Hockey India and its official partner Odisha will host the marquee event for the second consecutive time in the country after 2018. The 15th edition of the showpiece will be staged in Bhubaneswar and Rourkela, where the country’s largest hockey stadium is being constructed.

 

2. Tamil Nadu beat Punjab in National basketball championship final: Tamil Nadu defeated defending champion Punjab 87-69 in the final to win the men’s title in the 71st Senior National Basketball Championship. The formidable Indian Railways team won the women’s title, beating Telangana 131-82 in convincing fashion, riding on Poonam Chaturvedi’s 26 points.

In the men’s summit clash, Tamil Nadu pulled ahead after a slow start when Punjab kept pace and never looked back. At half-time, the host had widened the lead to 17 with a 50-33 scoreline. An Aravind with 26 points and M Arvind Kumar (21) were in the fine nick for the home team as they stamped their authority against their arch-rival.

 

BANKING AND FINANCE

 

1. SBI Raises USD 500 Million Via IFSC Gift City Branch: State Bank of India (SBI), India’s largest commercial bank, has raised USD 500 million through a three-year syndicated loan facility, via its International Financial Services Centre (IFSC) Gujarat International Finance Tec (GIFT) City branch. The facility is worth USD 400 million, with a USD 100 million greenshoe option. SBI, on the other hand, did not provide pricing information. The SBI’s Gift City branch has raised its first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan.

Key Points:

a)      With this, SBI has taken another major step in promoting IFSC Gift City as an international financial hub, with its Gift City branch becoming the largest in the IFSC.

b)      The substantial footprint SBI has established in offshore financial markets has facilitated the successful execution of syndicated loans at such fine pricing.

c)       The joint lenders of the offering are MUFG, Bank of America, and JP Morgan, with First Abu Dhabi Bank serving as the facility agent.

Note: SBI Chairman: Dinesh Kumar Khara; SBI Establishment: 1955; SBI Headquarters: Mumbai, Maharashtra.

 

BUSINESS AND ECONOMY

 

1. Three General Insurance Companies’ Share Capital Increased By the Government: Three public sector general insurance businesses – National Insurance Company Limited, Oriental Insurance Company Limited, and United India Insurance Company – have had their authorised share capital increased by the government. This will allow for a capital inflow of Rs. 5,000 crore into these businesses. Key Points:

a)      The permitted capital for National Insurance will now be 15,000 crore (1,500 crore shares with a face value of 10 apiece), up from the current 7,500 crore, according to a notification released by the Finance Ministry (1,500 crore shares with a face value of ten each).

b)      Oriental Insurance would have a market capitalization of 7,500 crore (750 crore shares with a face value of ten rupees each), up from 5,000 crore (500 crore shares with a face value of ten rupees each).

c)       United India Insurance’s permitted capital has been increased to Rs 7,500 crore.

d)      United India Insurance’s authorised capital has been raised from 5,000 crore (500 crore shares with a face value of 10) to 7,500 crore (750 crore shares with a face value of 10).

e)      Finance Minister Nirmala Sitharaman announced in her FY 2018-19 Budget speech that three public sector general insurance companies, National Insurance Company Ltd., United India Assurance Company Limited, and Oriental India Insurance Company Limited, would be merged into a single insurance entity and then listed.

 

2. Microsoft and BPCL collaborated to step up digital transformation: Bharat Petroleum Corporation Ltd. (BPCL), an Indian oil refinery, has teamed with Microsoft to improve its customer experience. It will also integrate cloud computing and artificial intelligence (AI) to help the oil and gas business adapt digitally. Microsoft will supply BPCL with infrastructure-as-a-service, platform-as-a-service, and cloud network and security services over the course of the seven-year partnership. Key Points:

a)      BPCL plans to employ Microsoft’s secure cloud platform to accelerate its cloud transformation, create smarter supply chains, and improve customer engagement. BPCL will also make use of Microsoft Teams and other productivity tools to improve employee communication.

b)      The two companies will work together to create a digital experience for BPCL consumers, reaffirm BPCL’s brand promise of quality and trust, and develop Urja, a conversational AI platform that will provide 24/7 customer care.

c)       Microsoft has been an indisputable worldwide leader in technology.

d)      Important takeaways for all competitive exams:

Note: Microsoft: Founders: Bill Gates, Paul Allen; CEO: Satya Nadella; Headquarters: Redmond, Washington, United States

Bharat Petroleum Corporation Limited: Headquarters: Mumbai; Founded: 1952

 

OBITUARIES

 

1. Veteran television producer & actor Manju Singh passes away: Veteran Hindi television presenter and actor, Manju Singh has passed away due to cardiac arrest. She was one of the pioneers in the Indian television industry and was fondly remembered as didi. She was the anchor of the children’s program, Khel Khilone for 7 years. She started her career as a television producer in 1983 with the Show theme, 1st sponsored show on Indian Television. From 1984 onwards, Ek Kahani, prime a time series based on literary shorts.