Daily GK Update- 6th April, 2022

 

NATIONAL UPDATES:

 

1. Haryana govt launched crop insurance portal of ‘Mukhya Mantri Bagwani Bima Yojana’: The Haryana Agriculture Minister J P Dalal launched the portal of Mukha Mantri Bagwani Bima Yojana’ with an initial corpus of Rs 10 crore for the scheme. Under this the farmers will be compensated for the damage caused to their crops due to adverse weather and natural calamities.

About the scheme:

a)      The scheme compensates a sum of Rs 30,000 per acre for vegetables and Spices and Rs 40,000 per acre for fruits, which will be compensated to the farmers upon claim via four categories such as 25 per cent, 50 per cent, 75 per cent and 100 per cent based on the survey.

b)      The farmer’s contribution will be only 5 per cent of the insured amount i.e., Rs 750 per acre for vegetables and Spices and Rs 1000 per acre for fruits.

c)       The Scheme covers 21 crops – 14 vegetables, 2 spices, and 5 fruits. The scheme will be optional for all those farmers who will get registered under ‘Meri Fasal Mera Byora’ (a web portal through which the problems of the farmers of the state will be resolved).

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

 

2. Andhra Pradesh’s First ‘She Auto’ Stands Set Up: In a move to provide safe transport to women and girl students, the police in Andhra Pradesh’s Chittoor have set up three ‘She Auto’ stands, the first of its kind in the state. The three ‘She Auto’ stands have been set up in RTC Bus Stand, Mahila University, and Ruia Hospital in Tirupati.

Bhumana Karunakar Reddy, MLA, along with city Mayor Dr R Sireesha and Urban Superintendent of Police Venkata Appala Naidu inaugurated the dedicated auto stands at the RTC Bus Stand, Mahila University and Ruia Hospital. Tirupati is the first city in the state to set up special auto stands for women like this. Proved that women have a special place in society by setting up auto stand in RTC bus stand in Tirupati, Women’s University and Rua Hospital. Earlier, women, auto drivers used to keep their vehicles with men at other auto stands.

Note: Andhra Pradesh Governor: Biswabhusan Harichandan; Andhra Pradesh Chief minister: Y. S. Jaganmohan Reddy.

 

3. Vikas Kumar named as Managing Director of Delhi Metro Rail Corporation: Vikas Kumar has been appointed as the new Managing Director of the Delhi Metro Rail Corporation (DMRC). He succeeds Mangu Singh, whose tenure ended on March 31, 2022. Singh was the managing director of DMRC since January 1, 2012, and his famed tenure ended. Kumar is the third managing director of the DMRC after E Sreedharan and Mangu Singh. He will hold the post for a term of five years.

Note: DMRC Opened: 24 December 2002.

 

4. A new book “Crunch Time: Narendra Modi’s National Security Crises” by Sreeram Chaulia: Dr Sreeram Chauliahas authored a new book titled “Crunch Time: Narendra Modi’s National Security Crises”. The book was released by Meenakshi Lekhi, Minister of State for External Affairs at the India International Centre in New Delhi, Delhi. The book highlights the much needed public faith in the state to protect the country from security threats posed by India’s external adversaries. The book analyses PM Modi’s series of decision-making moves during the crises with China and Pakistan.

 

INTERNATIONAL UPDATES:

 

1. Four agreements and launch multiple projects signed between India- Nepal: Prime Minister Narendra Modi and his Nepalese colleague Sher Bahadur Deuba met in New Delhi, initiating a number of projects and signing four important agreements across a variety of fields. Indian Oil Corporation Ltd. (IOCL) and Nepal Oil Corporation Ltd. signed agreements on Nepal becoming the 105th member of the International Solar Alliance (ISA), technical cooperation in railways, petroleum product delivery, and technical experience sharing in the petroleum sector.

Key Points:

a)      The two Prime Ministers also observed the first passenger train service between India’s Jayanagar and Nepal’s Kurtha, the handover of India’s Solu corridor transmission project to Nepal, and the progress of 132 health facilities being built across 10 districts in Nepal under a GoI grant.

b)      The two countries announced the debut of the Indian RuPay card in Nepal, with the domestic variation of the RuPay card (about 83 percent of all RuPay cards issued) being compatible with approximately 1400 POS machines in Nepal.

c)       After Bhutan, Singapore, and the United Arab Emirates, Nepal is now the fourth country outside of India to accept RuPay.

Jaynagar- Kurtha Railway: The Jaynagar-Kurtha railway line is part of the Jaynagar-Bijalpura-Bardibas train link, which is being built with a grant of INR 548 crore from the Indian government. It’s a 35-kilometre rail stretch, with 3 kilometres in Bihar, India, and the rest in Nepal. The project will be the first broad-gauge passenger rail link between the two countries, bringing a whole new level of cross-border connectivity to the region.

Solu Corridor: One of the biggest projects in Nepal under the Government of India’s Line of Credit is the Solu Corridor 132 kV power transmission line and substation (LoC). The 90-kilometre 132-kV Double Circuit line connects Nepal’s national electrical system to the remote Solukhumbu, Khotang, and Okhaldhunga districts in North Eastern Nepal. The transmission line will transmit electricity from existing and upcoming hydro projects in the area into the national grid, as well as supply power to adjacent districts’ rural electrification networks, once it is operational.

 

2. Arunabha Ghosh appointed by UN Chief to high-level expert group on net-zero emissions commitments: United Nations Secretary-General, Antonio Guterres appointed Arunabha Ghosh (India) to a High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities. Arunabha Ghosh is the CEO of the Council on Energy, Environment and Water (CEEW), a climate and energy think tank. He has been appointed to the Government of India’s G20 Finance Track Advisory Group for India’s G20 Presidency in 2023. In 2021, he was appointed as Co-Chair of the T20 Task Force on climate and energy for Indonesia’s G20 2022.

The group was launched by Antonio Guterres on 31 March 2022. Dr Ghosh will be among three Asians (and the only South Asian) serving on the expert group. It will be chaired by former Canadian Minister of Environment and Climate Change, Catherine McKenna. The 16-member expert group comprises independent experts, drawn from different countries.

 

3. International Day of Sport for Development and Peace: 6th April: The International Day of Sport for Development and Peace (IDSDP) is observed globally on April 6. To raise awareness of this potential, 6 April was declared as the International Day of Sport for Development and Peace (IDSDP) by the UN General Assembly. The adoption of this Day signifies the increasing recognition by the UN of the positive influence that sport can have on the advancement of human rights, and social and economic development.

The global theme of IDSDP 2022 is, “Securing a Sustainable and Peaceful Future for All: The Contribution of Sport,” which creates an opportunity for the Day’s celebrations to promote the use of sport as a tool to advance human rights and sustainable development.

 

OTHER UPDATES:

 

SPORTS

 

1. Iga Swiatek wins Miami Open tennis title 2022: Polish tennis star Iga Swiatek defeated Naomi Osaka of Japan, 6-4, 6-0. in the final match to claim the 2022 Miami Open tennis tournament. For Swiątek, this is her fourth career WTA 1000 title and the sixth singles title overall. Also, this is her 17th straight title win. The victory will now place Swiatek to the No. 1 spot in the women’s rankings.

With the victory, the 20-year-old Swiatek becomes only the fourth woman to win the Indian Wells and Miami tournaments back-to-back, a feat known as the “Sunshine Double” given the tournaments’ respective locations in California and Florida.

 

BANKING AND FINANCE

 

1. RBI fixed WMA limit for States/UTs at Rs 47,010 crores: The Reserve Bank reduced the Ways and Means Advances (WMA) for states and union territories to Rs 47,010 crore from Rs 51,560 crore on Friday, citing an improvement in the economic scenario. WMAs are short-term loans provided by the RBI to the government to help it deal with any discrepancies between receipts and payments.

Key Points:

a)      Due to the uncertainty surrounding COVID-19, the RBI increased the WMA limit for all states to Rs 51,560 crore. The new WMA was in effect until March 31, 2022.

b)      RBI stated it has decided to revert to the WMA limitations and deadlines for Over Draft (OD) for state governments / UTs, as recommended by the Advisory Committee on Ways and Means Advances to State Governments, following a review of the limits and in light of the gradual easing of COVID-19 restrictions.

c)       The Special Drawing Facility (SDF) used by state governments and UTs would continue to be linked to the amount of marketable securities issued by the government of India, such as Auction Treasury Bills, according to the RBI (ATBs).

d)      The interest rate on SDF, WMA, and OD will continue to be linked to the Reserve Bank’s policy rate, the repo rate.

e)      The central bank further stated that interest will be charged for all days the advance is outstanding.

f)        The Government of India’s WMA limit for the first half of fiscal year 2022-23 has been set at Rs 1,50,000 crore.

 

BUSINESS AND ECONOMY

 

1. SEBI has announced an ideathon Manthan to foster innovation in the securities business: As she launched an ideathon to promote innovation, Sebi Chairperson Madhabi Puri Buch said that India is ideally positioned to harness technology in the securities market to give bespoke solutions at a very low cost to individuals across the country.

Key Points:

a)      Buch stated at the start of the ideathon ‘Manthan’ that the implementation of financial technology (FinTech) in the securities market offered tremendous prospects for all parties involved.

b)      Sebi, in collaboration with BSE, NSE, NSDL, CDSL, KFintech, CAMS, LinkInTime, and MCX, is hosting a six-week ideathon called Manthan. According to a press release released by Sebi, it will promote the formation of a pool of ideas and creative solutions centred on the securities market.

c)       Through a hackathon, workable ideas from Manthan, which was unveiled at an event in Mumbai on Wednesday, may be turned into possibilities and prototypes.

d)      With a long history of entrepreneurship and creativity, India is well positioned to use technology in the securities market to give tailored solutions at a cheap cost to individuals in all corners of the country, according to Buch.

 

2. The Tata Group is preparing to unveil its super app: On April 7, the Tata Group will launch Neu, its much-anticipated super app. This software will be available for download through the Google Play Store. The Tata Group’s key goal is to expand its digital division so that it can compete with market leaders like Amazon, Flipkart, and Reliance Group’s JioMart.

It is said that Tata’s neu app will bring together aeroplanes, hotels, medicines, and groceries on a single platform. The Tata Neu app UI has also been revealed in a photo. Along with the gloomy background, this app features a variety of icons that can be used for a variety of purposes. You’ll be able to hire a car using the app as well.

Features:

a)      Tata Neu is an all-in-one platform that brings together all of the company’s services into a single app.

b)      Exclusive offers, incentives, and more will be available through the app. It’s a one-stop-shop for a hassle-free buying and payment process.

c)       Tata Pay allows users to pay for items and bills both online and in-store in real-time.

d)      According to the information provided on the Play Store, the Tata Neu app pays users for shopping, booking flights and hotels, and other activities.

e)      Tata Neu App gives Neu Coins as an incentive for spending, which can be exchanged for other services.

 

OBITUARIES

 

1. Pulitzer Prize winning American poet Richard Howard passes away: Pulitzer Prize awardee American poet, Richard Howard passed away at age of 92. Richard Joseph Howard was born on 13 October 1929 in Cleveland, Ohio, United States (US). He was an American poet, literary critic, essayist, teacher, and translator. Howard won the Pulitzer Prize in 1970 for ‘’Untitled Subjects’’ and was a National Book Award Finalist in 2008 for ‘’Without Saying’’. His translation of Charles Baudelaire’s “Les Fleurs du Mal” won the National Book Award (then called the American Book Award) in 1983.