Daily GK Update- 2nd May, 2022

 

NATIONAL UPDATES:

 

1. Maharashtra Cabinet approved first-of-its-kind ‘Maharashtra Gene Bank Project’: Maharashtra Cabinet approved the ‘Maharashtra Gene Bank’, a first-of-its-kind project in India. To conserve genetic resources in Maharashtra including marine diversity, seeds of local crops, and animal diversity. In the next five years, an amount of Rs 172.39 crores will be spent on these seven focus areas.

The ‘Maharashtra Gene Bank Project’ will work on seven themes: (1) Marine biodiversity; (2) Local crop/seed varieties; (3) Indigenous cattle breeds; (4) Freshwater biodiversity; (5) Grassland, scrubland, and animal grazing land biodiversity; (6) Conservation and management plans for areas under forest right; and (7) Rejuvenation of forest areas.

The project will be implemented by the Maharashtra State Biodiversity Board (MSBB) and will be overseen by committees under the chief secretary and the principal secretary (forests). The MSBB will coordinate with institutions like the National Institute of Oceanography (NIO) Goa to document and conserve rare and endangered marine species.

Major activities under the project:

a)      Indigenous knowledge resources will be tapped.

b)      The species and the knowledge of local communities will be well documented.

c)       Genetic and molecular samples will be preserved and their breeders will be supported.

d)      To preserve crop biodiversity, the government will encourage genome carriers who conserve seeds of local crop varieties and create seed banks.

Note: Maharashtra Capital: Mumbai; Maharashtra Governor: Bhagat Singh Koshyari; Maharashtra Chief Minister: Uddhav Thackeray.

 

2. To upgrade railway telecommunications, Railway Ministry signs an agreement with the C-DOT: The Ministry of Railways and the Centre for Development of Telematics (C-DOT) signed a memorandum of understanding (MoU) to form a strong collaborative working partnership for coordination and resource sharing in the provision of telecommunication facilities in the delivery and implementation of C-Telecom DOT’s Solutions and services in railways. Key Points:

a)      This MoU will allow C-DOT and the Ministry of Railways to collaborate on telecommunications modernization in Indian Railways for Public Safety and Security Services using Long Term Evolution (LTE-R) for Railways in accordance with world standards, 5G Use Cases in Indian Railways in accordance with Make in India policy, Internet of Things, Unified Network Management System, Network Management System, Video Conference software, Chatting application, Routers and Switches.

b)      Long-Term Evolution for Railways (LTE-R) is a next-generation communications network specialised to railway services, allowing high-speed wireless voice and data connections within trains, as well as between trains.

c)       The collaboration between C-DOT and the Ministry of Railways will lower the total cost of ownership of indigenous telecom equipment and services for train operations, public safety, and security applications, boosting the Government of India’s Make in India initiative and bridging the digital divide in the country.

 

3. Qualcomm India has teamed up with MeiTY’s C-DAC to assist Indian chipset startups: Qualcomm India Private Limited, a subsidiary of Qualcomm Inc., proposes to launch and run the Qualcomm Semiconductor Mentorship Program 2022 for selected semiconductor startups in India, with the goal of providing mentorship, technical training, and industry outreach. Qualcomm India has established a partnership with the C-DAC, an autonomous scientific society within the Ministry of Electronics and Information Technology of the Government of India, which will serve as an outreach partner for the programme and help participating entrepreneurs gain exposure. Key Points:

a)      Qualcomm India would support technological breakthroughs as well as intellectual-property-driven innovation and product development in the Indian ecosystem.

b)      It will aid in the reduction of innovation risks, the acceleration of company development, and the development of soft skills and knowledge bases among Indian semiconductor design companies.

c)       It will provide chosen startups with access to domain experts, venture capitalists, accelerators, incubators, industry groups, and significant corporations that can assist them in scaling up their businesses.

d)      Qualcomm India will provide platforms and forums to allow high-growth-potential small businesses and startups to collaborate on potentially disruptive technologies that could shape or develop semiconductor supply chains in the future.

 

4. Vinay Mohan Kwatra assumes charge as India’s new Foreign Secretary: Vinay Mohan Kwatra took charge as India’s new Foreign Secretary. A 1988-batch Indian Foreign Service (IFS) officer, Mr Kwatra succeeded Harsh Vardhan Shringla who retired from service. Mr Kwatra was serving as India’s envoy to Nepal before assuming the charge of the Foreign Secretary.

 

5. Lt Gen BS Raju appointed as Vice Chief of Indian Army: The Indian Army’s Director General of Military Operations, Lieutenant General Baggavalli Somashekar Raju has been appointed as the Vice Chief of the Army Staff from May 1. He was an alumnus of Sainik School Bijapur and National Defence Academy and commissioned in the Jat Regiment on December 15, 1984. He had commanded a battalion during Operation Parakram in the Western Theatre and J&K. He has been awarded the Uttam Yudh Seva Medal, Ati Vishisht Seva Medal, and Yudh Seva Medal.

Before taking over the new role, Lt General BS Raju was serving as the Director-General of Military Operations during the standoff on the LAC, the de facto border between India and China. The two countries have been locked in a standoff since June 2020 when both sides lost several troops.

 

INTERNATIONAL UPDATES:

 

1. World Tuna Day: 2nd May: World Tuna Day is observed globally on 2nd May every year. This day is established by the United Nations (UN) to raise awareness about the importance of tuna fish. Tuna is a significant source of food for humans as the fish has several rich qualities such as Omega 3, Vitamin B12, proteins and other minerals.

Tuna is mainly procured for two things namely traditional canned Tuna and Sashimi/Sushi. World Wildlife Fund (WWF), environmental groups have now warned the fisheries and Tuna now falls under endangered species. This day aims at spreading awareness about the overfishing of Tuna and the importance of maintaining the ecosystem and the food chain.

History of World Tune Day: In the year 2016, the General Assembly of the UN declared May 2 as World Tuna Day to spread awareness among people regarding the importance of conserving Tuna fish. In the past few years, the population of Tuna fish has declined by more than 97 per cent due to overfishing and Illegal fishing. So to save Tuna from getting extinct, the UN announced a special day and appeal to people to conserve Tuna.

 

OTHER UPDATES:

 

SPORTS

 

1. PV Sindhu won bronze at Asian Badminton Championships: In Asia Badminton Championships, India’s P.V. Sindhu won her second Asian bronze medal after a heartbreaking three-game loss to top-seed and defending champion Akane Yamaguchi of Japan in the semifinal in Manila. She had won her first bronze in the Asia Badminton Championships 2014 Gimcheon edition.

Sindhu has assured a medal in the championship when she defeated He Big Jiao of China by 21-9,13-21 and 21-19 in the quarterfinal. She has won silver in 2016 Rio de Janeiro, and bronze in 2020 Tokyo.

 

BANKING AND FINANCE

 

1. Union Bank becomes first public sector bank to go live on Account Aggregator framework: Union Bank of India became the first public sector bank to go live on the Account Aggregator (AA) ecosystem. The framework facilitates sharing of financial information on a real-time basis between regulated entities. AAs are licensed by the Reserve Bank of India to enable the flow of data between Financial Information Providers (FIPs) and Financial Information Users (FIUs).

The Account Aggregator Ecosystem helps the Lenders to leverage Digital data acquired with the consent of the Customers for providing them with a seamless journey and eliminating the need of physical documentation. Financial Information User (FIU) can request data from the Financial Information User (FIP) based on a simple consent given by the Customer on their Account Aggregator handle.

Note: Union Bank of India Headquarters: Mumbai; Union Bank of India CEO: Rajkiran Rai G.; Union Bank of India Founded: 11 November 1919, Mumbai.

 

2. RBI changes the rules for banks participating in KCC’s short-term agricultural loan plan: The Reserve Bank of India (RBI) changed the rules for banks to claim the amount of interest subsidies paid to farmers under the short-term crop credit plan via the Kisan Credit Card (KCC) during the previous fiscal year. Key Points:

a)      The Reserve Bank of India (RBI) announced in a circular that pending claims for the fiscal year 2021-22 can be submitted by June 30, 2023, and that they must be duly certified by statutory auditors “as true and correct.”

b)      The government grants banks a 2% annual interest subsidy in order to assist farmers with short-term crop loans of up to Rs 3 lakh at a 7% annual interest rate.

c)       Farmers that repay their loans on time will receive an additional 3% interest subsidy. The effective interest rate for these farmers is 4%.

d)      Banks must submit their claims on an annual basis, duly certified by their statutory auditors as true and correct, within a quarter of the year’s end, according to the circular on ‘Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC)‘ during 2021-22.

Note: Governor of Reserve Bank of India (RBI): Shri Shaktikanta Das

 

BUSINESS AND ECONOMY

 

1. Under Airtel Startup Accelerator Program, Bharti Airtel purchase 7% equity in Cnergee Technologies: Bharti Airtel, India’s second-largest telecom operator, announced that the Airtel Startup Accelerator Program has acquired a 7% investment in cloud-based networking solutions firm Cnergee Technologies. Cnergee, situated in Navi Mumbai, specialises in cloud-based comprehensive networking solutions for enterprises of all kinds. Key Points:

a)      The telco purchased the interest at a pre-money enterprise valuation that was mutually agreed upon, but the figure was not disclosed due to confidentiality concerns.

b)      Airtel said in a statement that the stake purchase will allow it to strengthen its NaaS offering for Small and Medium Businesses (SMBs) aiming to speed their transition to cloud-based applications.

c)       The Navi Mumbai-based business has created a set of 5G-ready software tools for Network-as-a-Service (NaaS) that can be scaled up to enable zero-touch service provisioning, central remote monitoring, and management of all connected devices, as well as a variety of real-time analytics.

d)      Through its integrated portfolio of connectivity, conferencing, cloud & data centres, cyber security, IoT, Ad-tech, and other services, Airtel Business serves over one million enterprises of all sizes.

 

2. Former Amazon Music CEO Sahas Malhotra joins JioSaavn as CEO: JioSaavn has named Sahas Malhotra, a former Amazon Music director and entertainment industry expert, as its new CEO. Previously, Sahas Malhotra worked for Sony Music India and Tips Industries. Sahas Malhotra was the business leader at Tips Music and the marketing director for Tips Film Production at Tips Industries. From the JioSaavn company’s Mumbai headquarters, Sahas Malhotra will manage the company’s efforts in the rapidly changing and fascinating Indian market.

About JioSaavn: JioSaavn is an audio streaming service for South Asian music and artists that was founded in 2007 as Saavn. Reliance Industries Limited (RIL) bought a majority share in the company in March 2018. JioSaavn is claimed to have a monthly active user base of over 100 million people.

 

DEFENCE

 

1. Indian Army Red Shield Division signs MoU for ‘Manipur Super 50’: Red Shield Division of the Indian Army under the aegis of Spear Corps entered into a tripartite agreement with the State Bank of India Foundation (SBIF) and the National Integrity and Educational Development Organization (NIEDO) to establish ‘Red Shield Centre for Excellence and Wellness’ in Manipur’s Bishnupur district. The project ‘Manipur Super 50’ is expected to be fully functional for the first batch of 50 students by the first week of July 2022. Key points:

a)      This initiative will be able to create a feeling of mental and social well-being amongst parents and their children by providing quality education thus catering for a better life and evolving responsible citizens for our country.

b)      The centre which will be opened in Bishnupur Battalion will remain as instrumental in bringing a progressive and inclusive society.

c)       The MoU signing ceremony was also attended by GOC Red Shield Division, state DGP and a host of senior veterans, and military and civil dignitaries. More than 100 students from various schools witnessed the MoU signing.