Daily GK Updet- 10th April, 2022

 

NATIONAL UPDATES:

 

1. Karnataka establishes cooperative bank for milk producers: Karnataka Chief Minister, Basavaraj Bommai Establishing the ‘Nandini Ksheera Samridhi Cooperative Bank’ is a revolutionary initiative, which will provide greater financial strength for the milk producers. Karnataka is the only state in the country to set up an exclusive bank for milk producers. Union Home Minister Amit Shah launched the logo of “Nandini Ksheera Samurdhi Sahakar Bank”.

About the ‘Nandini Ksheera Samridhi Cooperative Bank’:

a)      The Milk Producers cooperatives have a turnover of about Rs 20,000 crore in various banks every day.

b)      It will bring a second wave of White Revolution in the dairy sector.

c)      The state government has provided Rs 100 crore as its share capital and the Milk

d)      Federation and Cooperatives would contribute Rs 260 crore as their share of capital for the proposed cooperative bank which would stimulate huge economic activity in rural hinterland.

e)      The state government has decided to computerise all the Primary Agricultural Credit Societies (PACS).

Note: Karnataka Capital: Bengaluru; Karnataka Chief Minister: Basavaraj S Bommai; Karnataka Governor: Thawar Chand Gehlot.

 

2. Madhya Pradesh government launched Mukhyamantri Udyam Kranti Yojana: Chief Minister of Madhya Pradesh, Shivraj Singh Chouhan will launch the Udyam Kranti Yojana. According to officials, the MP Mukhyamantri Udyam Kranti plan was announced for the first time in November 2021, as per the MSME department’s gazette announcement, but it was never executed. Loans ranging from Rs. 1 lakh to Rs. 50 lakh would be offered to youth under this scheme for self-employment.

Mukhyamantri Udyam Kranti Yojana: The scheme’s unique feature is that the state government would provide a 3% interest subsidy as well as a bank guarantee. Young people will be able to apply for loans ranging from Rs. 1 lakh to Rs. 50 lakh under this plan. The proposal is unique in that the state government will provide a 3% interest subsidy in addition to a bank guarantee. The guarantee of the loan provided under this scheme will be provided by the government to the bank.

 

3. NCW Launches Anti-Human Trafficking Cell: The National Commission for Women launched an Anti-Human Trafficking Cell to improve effectiveness in tackling cases of human trafficking, raising awareness among women and girls, capacity building and training of Anti Trafficking Units and increasing responsiveness of law enforcement agencies. The Cell has been set up with an aim of increasing awareness among law enforcement officials and facilitating their capacity building. Benefits of cell:

a)      The Cell will conduct Gender Sensitization Training and Workshops in combating human trafficking for police officers and for prosecutors at the regional, state and district levels.

b)      The complaints related to human trafficking received by the Commission will be addressed by this cell.

c)      The Commission has observed that some of the major issues faced in combating trafficking include lack of rehabilitation for victims and insensitive attitude towards trafficked survivors and their families. Therefore, the Cell will improve the monitoring mechanisms and encourage government agencies regarding measures being adopted for the prevention of trafficking and rehabilitation of victims.

d)      The Cell will also help survivors of trafficking in rebuilding their lives by providing them with need-based training and by organizing capacity building programs for them to prevent the re-traumatization of victims.

Note: National Commission for Women Formed: 1992; National Commission for Women Headquarters: New Delhi; National Commission for Women executive: Lalitha Kumaramangalam.

 

4. A book titled ‘The Maverick Effect’ authored by Harish Mehta:  “The Maverick Effect”, tells the untold story of how in the 1970s and 80s a ‘band of dreamers’ joined hands to create NASSCOM and pave the way for the IT revolution in India. The book, touted to be an authoritative biography of the National Association of Software and Service Companies (NASSCOM), the apex body of software and IT service companies, is written by Harish Mehta.

“The Maverick Effect is a definitive and authoritative biography of NASSCOM as recounted by one who led the creation of NASSCOM in 1988 and has been nurturing it like his precious child even after 33 years to the day.  The Maverick Effect is the extraordinary story of this band of dreamers who joined hands to transform a nation while also changing the lens through which the world looked at India.

 

INTERNATIONAL UPDATES:

 

1. China successfully launches new satellite Gaofen-3 03 for Earth Observation: China successfully launched a new Earth observation satellite Gaofen-3 03, from Jiuquan Satellite Launch Centre on board a Long March-4C rocket. The new satellite will become part of its land-sea radar satellite constellation by forming a network with the orbiting Gaofen-3 and Gaofen-3 02 satellites.

About the Satellite: They will then capture reliable, stable synthetic aperture radar (SAR) images, to help Beijing safeguard its maritime rights and interests. The Earth Observation (EO) satellites produce a large number of SAR images every day, which are characterised by all-weather operation, high spatial resolution, among other things.

Note: China Capital: Beijing; China Currency: Renminbi; China President: Xi Jinping.

 

2. Forbes Billionaires 2022: The Richest People in the World: The Forbes billionaires 2022 list is out, which compiles the list of the world’s richest, who this time was hit by the impact of the Russia-Ukraine conflict, coronavirus pandemic and sluggish markets. Elon Musk, the Tesla and SpaceX founder topped Forbes’ list for the first time ever with a net worth of $219 billion.

America has most number of billionaires at 735 worth a collective net worth of $4.7 trillion, including Elon Musk, who tops the World’s Billionaires list for the first time. China (including Macau and Hong Kong) remains number two, with 607 billionaires worth a collective $2.3 trillion. Forbes uses stock prices and exchange rates from March 11, 2022, to calculate net worths.

Here is the list of the top 10 billionaires:

 

Rank	Name	Net Worth	Country
1	Elon Musk	$219 B	Tesla, United States
2	Jeff Bezos	$171 B	Amazon, United States
3	Bernard Arnault & family	$158 B	LVMH, France
4	Bill Gates	$129 B	Microsoft, United States
5	Warren Buffett	$118 B	Berkshire Hathaway, US
6	Larry Page	$111 B	Google, United States
7	Sergey Brin	$107  B	Google, United States
8	Larry Ellison	$106 B	Oracle, United States
9	Steve Ballmer	$91.4 B	Microsoft, United States
10	Mukesh Ambani	$90.7  B	Reliance Ind Ltd, India

 

Here are the top 10 richest Indians on the Forbes Billionaires List 2022:

 

Rank	Name	Net Worth	Company
10th rank	Mukesh Ambani	($90.7 billion)	Reliance Industries Ltd
11th rank	Gautam Adani	($90 billion)	Adani Group
47th rank	Shiv Nadar	($28.7 billion)	HCL Technologies
56th rank	Cyrus Poonawalla	$24.3 billion)	Serum Institute of India
81st rank	Radhakishan Damani	($20 billion)	DMart
89th rank	Lakshmi Mittal	($17.9 billion)	ArcelorMittal
91st rank	Savitri Jindal and family	($17.7 billion)	O.P.Jindal Group
106th rank	Kumar Birla	($16.5 billion)	Aditya Birla Group
115th rank	Dilip Sanghvi	($15.6 billion)	Sun Pharmaceuticals
129th rank	Uday Kotak	($15.3 billion)	Kotak Mahindra Bank

 

Women billionaires of India: Savitri Jindal, the chairperson of the Jindal Group, is the richest woman in India, according to the Forbes’ Billionaires List 2022, with a net worth of $17.7 billion. A total of 11 Indian women, with 4 newcomers, joined the global rich list this year.

Women billionaires: Francoise Bettencourt Meyers, cosmetics giant L’Oréal’s founder’s granddaughter, was listed as the richest woman in the world this year – with a net worth of $74.8 billion, according to the report. Meyers’ net worth increased significantly in the past two years, from $48.9 billion in 2020.

 

3. World Homeopathy Day: 10th April: World Homeopathy Day is observed every year on April 10 to spread awareness about homoeopathy and its contribution to the world of medicine. The day is also celebrated to commemorate the birth anniversary of Dr Christian Friedrich Samuel Hahnemann. Hahnemann, born in Paris in 1755, founded this branch of medicine and is considered the father of Homeopathy. This year, the theme for World Homeopathy Day 2022 in India is ‘People’s Choice For Wellness.’

 

OTHER UPDATES:

 

SPORTS

 

1. Ministry of Sports releases USD 72,124 to UNESCO Fund for Elimination of Doping: The Ministry of Youth Affairs and Sports, Government of India, has contributed an amount of USD 72,124 towards the UNESCO Fund for Elimination of Doping in Sport 2022. This is double the amount of the minimum agreed value. As per the resolution of 7COP held at Paris between 29-31 September 2019, the State Parties had agreed for contributing 1% of the regular budget of their respective nations to UNESCO towards the Fund for the Elimination of Doping in Sport.

Previously: In 2021, India contributed USD 28172 towards the UNESCO Fund. The contributed fund will be used to support the implementation of the Fund’s Operational Strategy 2020-2025.

Note: Minister of Youth Affairs and Sports:  Anurag Singh Thakur.

 

BANKING AND FINANCE

 

1. PNB implements Positive Pay System compulsory for cheque payments worth Rs 10 lakh: Punjab National Bank has implemented the Positive Pay System (PPS) being compulsory for cheque payments worth Rs 10 lakh and above. This is being done as a move to protect its over 180 million customers from any security threats. The bank had announced to make the Positive Pay System mandatory last month, and the same has been implemented today. Under the new system, high-value cheques worth Rs 10 lakh and above will be cleared using the PPS, after reconfirmation with the issuer of the cheque.

About the Positive Pay System (PPS):

a)      As per the Positive Pay System (PPS) developed by the National Payments Corporation of India (NPCI), a customer issuing a high-value cheque has to reconfirm some essential details. The details are then cross-checked while presenting the cheque in clearing before payment.

b)      Positive Pay System will be available for all account holders issuing cheques for amounts of Rs 50000 and above. Availing of this facility will be at the discretion of the account holder.

c)      However, only those cheques which are compliant with instructions of the Positive Pay System shall be accepted under the dispute resolution mechanism at the (Cheque Truncation System) CTS grids, PNB had said in a statement last year. The PPS had come into effect in January last year for PNB.

d)      These details are to be shared with the bank at least 24 working hours before the cheque is presented for clearing. Customers can share the details through its internet banking, mobile banking, SMS banking or in their home branch in the prescribed format.

Note: Punjab National Bank Founded: 1894; Punjab National Bank Headquarters: New Delhi; Punjab National Bank MD & CEO: Atul Kumar Goel; Punjab National Bank Tagline: The Name You Can Bank Upon.

 

BUSINESS AND ECONOMY

 

1. NTPC and GGL have agreed to combine Green Hydrogen into piped Natural Gas: With a sustained focus on the environment, NTPC has taken the initiative of blending green hydrogen in the GGL (Gujarat Gas Limited) Piped Natural Gas (PNG) network at NTPC Kawas. In the presence of Mohit Bhargava, CEO, NTPC REL & ED RE, NTPC, and Sanjeev Kumar, MD-GGL & GSPL, a formal agreement between the two firms was signed. This hydrogen blending project at NTPC Kawas is a ground-breaking initiative and the country’s first of its type. This is a step toward decarbonizing the culinary sector and achieving energy self-sufficiency for the country.

Key Points:

a)      Green hydrogen will be manufactured utilising power generated by NTPC Kawas’ current 1 MW floating solar facility. This will be mixed with PNG in a predetermined quantity and utilised at NTPC Kawas Township for culinary purposes.

b)      The initial percentage of hydrogen mixing in the PNG will be roughly 5%, with the percentage gradually increasing following successful completion.

c)      With a total installed capacity of 69 GW and a diverse fuel mix, NTPC is the country’s leading energy utility.

d)      The NTPC group aims to reach 60 GW of renewable energy in a decade and is now working on various green hydrogen experimental projects.

e)      GGL is India’s largest City Gas Distribution (CGD) company, with operations in 43 districts across six states and one union territory.

 

2. Jio-bp and TVS Motor to collaborate on EV solutions: Jio-bp and TVS Motor Company announced that they had agreed to explore the establishment of a comprehensive public EV charging infrastructure in India for electric two-wheelers and three-wheelers, building on Jio-developing bp’s network in this field. Customers of TVS electric vehicles are likely to gain access to Jio-extensive bp’s charging network, which is also open to other vehicles, as part of this proposed agreement. The partnership’s goal is to build a standard AC charging network as well as a DC fast-charging network. According to TVS Motors, this will match with Jio-bp and TVS‘ aim to deliver a vast and reliable charging infrastructure to their customers. Both TVS Motor and Jio-bp have developed solutions for a seamless customer journey on their own apps.

About Jio-bp: Jio-bp pulse is the brand name for Jio-electric bp’s vehicle charging and swapping stations. Customers can use the Jio-bp pulse app to locate charging stations near them and charge their electric vehicles. Jio-bp is also developing a charging environment that will benefit all stakeholders in the EV value chain, with the goal of becoming one of India’s largest EV networks.

About the Agreement: This agreement will aid in the adoption of electric vehicles in the country among two- and three-wheeler customers who want to take the next step toward turning electric. The fast spread of these charging stations will widen the horizons of both companies and India’s net-zero emission goal.

 

Defence

 

1. Khanjar 2022: The 9th edition of the India-Kyrgyzstan Joint Special Forces Exercise: The 9th Edition of the India-Kyrgyzstan Joint Special Forces Exercise was held in March-April, 2022 at Special Forces Training School, Bakloh (HP). Special Forces contingents from India and Kyrgyzstan have shared their experience and best practices in terms of tactics, techniques, and procedures for countering present and emerging threats throughout the conflict spectrum. During the Exercise, combat shooting, sniping, mountain survival, hostage rescue drills, and unarmed warfare were all extensively performed. The collaborative training reinforced the existing link between India and Kyrgyzstan, which has grown over years of mutual respect for strategic autonomy, democratic ideals, and zero tolerance for terrorism.