NATIONAL UPDATES:
1. Rajasthan adopts revised criteria for IG Shehri
Rozgar Guarantee Yojana: New rules for the implementation of the Indira Gandhi
Shahari Rozgar Yojana have been accepted by Rajasthan Chief Minister Shri Ashok
Gehlot. The scheme, modelled after the Mahatma Gandhi National Rural Jobs
Guarantee Act (MGNREGA), was introduced by Gehlot in the 2022-23 budget to
create employment in metropolitan areas. Key Points:
a) Families living in urban areas will receive 100
days of employment each year under the new urban employment scheme. According
to an official release, the state government will invest Rs 800 crore each year
on this ambitious plan.
b) According to the new instructions, everyone between
the ages of 18 and 60 who live in the local body area would be enrolled under
the system using their Jan Aadhaar cards.
c) Under the proposal, the work will be approved and
carried out by state and district committees.
2. 3rd Global Organic Expo 2022 starts in New Delhi: 3rd
Global Organic Expo 2022 is poised to be a major platform for Organic
Producers, Aggregators, Processors, Value Chain Integrators, and the Industry
Partners by offering Global level conference, with an apt theme “Profitability
for Humanity”. More than 200 organic products and service companies
participated in the previous events. It offers a great opportunity for
showcasing the work in the field of organics to the world. Objectives of
Global Organic Expo:
a) Reducing cost and achieving sustainable
productivity through certified organic products and capacity development of
organic production systems
b) Organic products will focus on creating market
linkages between producers and marketers with the ultimate objective of
increasing income without any chemical inputs
c) Sector and People: Organic Expo allows all organic
customers, suppliers, partners, and potential new customers to meet in a very
comfortable way in person.
d) Global Organic Expo is a platform to explore new
clients and an opportunity to have face-to-face interaction with existing
clients, suppliers, and partners. This event will be a 360-degree approach to
understand competition and analyze market
e) Parallel to the exhibition GOE will also have a
conference to exchange ideas experiences and knowledge in the field of Organics
which will create a future path for the growth of organics in India and the
world over
f)
Organic is an ambitious and important field. To speak of the difference
between certified organic, non-certified and natural products, public education
will be an important part of this Organic Expo
3. Delhi Customs launches Project ‘NIGAH’ at ICD Garhi
Harsaru, Gurugram: Chief Commissioner, Delhi Customs Zone, Surjit Bhujabal
inaugurated project ‘NIGAH’ at ICD Garhi Harsaru, Gurugram. ICTM (ICD Container
Tracking Module) has been developed in collaboration with the Custodian M/s.
GRFL. A live demo of the project was given to all the participants.
About the Project NIGAH: Project NIGAH is an initiative to track container by using ICTM (ICD
Container Tracking Module) which will help in better visibility of the
container movement inside the ICD. It will help Customs to expedite long
standing containers and monitor timely clearances, thereby enhancing Ease of
Doing Business along with ensuring lead preventive checks. This innovative
development at local level to provide granular level visibility supporting ease
of monitoring and to synergise the technological platforms introduced by the
government with other stakeholders’ platforms, which will lead India to high
standards of EXIM trade. He encouraged other Custodians to replicate the
project at ICDs for the benefit of trade.
4. New Arunachal monkey named after Sela pass: A new
species of old world monkey, “The Sela Macaque” was geographically separated
from the Arunachal Macaque by the Sela, an eastern Himalayan pass located at an
altitude of 13,700 feet. Sela macaque ( Macaca selai), the new-to-science
primate was identified and analysed by a team of experts from the Zoological
Survey of India (ZSI) and the University of Calcutta. Their study has been
published in the latest edition of Molecular Phylogenetics and Evolution.
Phylogenetics relates to the evolutionary development and
diversification of a species or group of organisms. The phylogenetic analysis
revealed that the Sela macaque was geographically separated from the Arunachal
macaque (Macaca munzala) of the Tawang district by Sela. This mountain pass
acted as a barrier by restricting the migration of individuals of these two
species for approximately two million years. Sela is situated between Dirang
and Tawang towns in western Arunachal Pradesh.
INTERNATIONAL UPDATES:
1. 2022 Global Food Policy Report: Climate Change
& Food Systems: The Intergovernmental Panel on Climate Change (IPCC) of the
United Nations has issued a warning about an impending crisis: Climate change
has triggered a code red for humanity, requiring immediate action. This dilemma
is inextricably linked to food systems. Climate change has already begun to
diminish agricultural output and disrupt supply chains in many countries,
particularly in the poor world, placing strain on livelihoods and threatening to
considerably increase hunger and malnutrition, making adaptation efforts
critical. Key Points:
a) Researchers from the International Food Policy
Research Institute, Alliance of Bioversity and the International Center for
Tropical Agriculture, International Water Management Institute, and other
partners identify six policy priorities that can and should be implemented now
in the IFPRI’s 2022 Global Food Policy Report.
b) Climate change has an impact on food systems, and food
systems are also key contributors to climate change. According to recent
estimates, food systems account for more than a third of the greenhouse gas
emissions that cause climate change, making their reduction critical to any
mitigation attempt.
c) Through the establishment and maintenance of carbon
sinks in forests, oceans, and soils, agriculture, forestry, and other land use
is now the only sector with a substantial potential to become a net emissions
sink—pulling more GHGs out of the atmosphere than it emits.
d) Meeting the problems of climate change will
necessitate a complete redesign of our food systems, which will necessitate
massive legislative changes, significant investment, and an enabling
environment that encourages and embraces innovation.
e) The report’s six policy goals are centred on
developing countries, many of which are likely to bear the brunt of climate
change’s effects but lack the resources to support adaptation and long-term
food system transformation.
2. World Vape Day:
30th May: World Vape Day
is observed on 30th May across the globe to create awareness about the
alternatives to harmful tobacco products and highlights the relative safety of
e-cigarettes and their potential as harm reduction and smoking cessation tools.
World Vape Day (May 30) is observed on the day before World No Tobacco Day (May 31),
observed by the World Health Organisation (WHO).
E-Cigarette: Chinese pharmacist Hon Lik invented electronic
cigarettes (e-cigarettes) in 2003 as an alternative to conventional smoking. There are
several types of e-cigarettes which are the most common form of Electronic
Nicotine Delivery Systems (ENDS) and Electronic Non-Nicotine Delivery Systems
(ENNDS). The system uses a liquid to create aerosols which
are inhaled by the users. This liquid may contain additives, flavours and
chemicals that can be toxic to health. E-Cigarettes are estimated to be 95% safer than smoking
cigarettes.
OTHER UPDATES:
SPORTS
1. Tokyo Bronze Medallist Lovlina Borgohain elected as
IBA’s Athletes’ Committee Chair: Tokyo Bronze Medallist, Lovlina Borgohain was
elected as IBA’s Athletes’ Committee Chair. International Boxing Association
(IBA) announced that Indian boxer and Tokyo Olympics Bronze medallist Lovlina
Borgohain has received the highest number of votes during the election held at
the 2022 Women’s World Championships and thus has been elected as the chair and
a voting member on the Board of Directors for the IBA’s Athletes’ Committee.
Further, Indian boxer Shiva Thapa has also been elected as a member of
the IBA Athletes Committee following the election held during the 2021 IBA
Men’s World Championships. The duo, who are both under the Sports Authority of
India’s (SAI) Target Olympic Podium Scheme (TOPS) have confirmed that they have
accepted their roles and look forward to representing India and other boxers at
the Board of Directors’ meeting.
Note: International Boxing Association Headquarters location: Lausanne,
Switzerland; International Boxing Association President: Umar Kremlyov;
International Boxing Association Founded: 1946.
BANKING AND FINANCE
1. Postal Department and India Post payments Bank
(IPPB) Aarohan 4.0 begins in Shimla: Two days meeting of senior functionaries
of the Postal Department and India Post payments Bank (IPPB), AAROHAN 4.0
started in Shimla, Himachal Pradesh. The agenda of the meeting is to discuss
and deliberate ways to further deepen the Financial Inclusion drive in the
country and to provide banking solutions to every citizen of India. Postal
Department along with IPPB is working on the vision of the Prime Minister’s
Digital India initiative to promote digital payments and bring digital banking
services to every nook and corner of the country in a customer-friendly manner.
2. MUFG Bank of Japan receives approval to open a
branch at GIFT City: MUFG Bank, a Japanese lender, will open a branch in
Ahmedabad’s Gujarat International Financial Tec City (GIFT City) to conduct
foreign currency lending. This will be the company’s sixth location in India.
With a broader range of financial services, MUFG can better serve its domestic
and international clients. It has offices in Mumbai, Delhi, Bengaluru, Chennai,
and Neemrana at the moment. Key Points:
a) As of December 2021, India’s funds-based exposure
was Rs 15,671.4 crore, while non-fund exposure was Rs 5,169.1 crore. According
to filings on the lender’s website, the lender’s capital adequacy ratio was
21.13 percent in December 2021.
b) Foreign currency-denominated loans are illegal in
India in principle due to laws, however GIFT City allows you to book India-related
offshore business on the Indian coasts.
c) In March 2022, MUFG announced the creation of a
$300 million investment fund for Indian start-ups. This fund aims to not only
help India’s economy grow monetarily, but also to foster partnership between
MUFG and promising tech and IT enterprises.
d) This would enable the bank to satisfy their
clients’ diversified finance needs in the Indian market, which is likely to
continue to grow in the future.
BUSINESS AND ECONOMY
1. RBI issued guidelines for certified jewellers’ Gold
import: The Reserve Bank of India (RBI) has announced new guidelines to permit
qualified jewellers to import gold through the India International Bullion
Exchange IFSC Ltd. (IIBX) or any other exchange. IFSCA and the DGFT, the
Government of India, must sanction the other exchanges. All payments by
authorised jewellers for gold imports through IIBX must be done using an
exchange mechanism recognised by IFSCA in accordance with the IFSC Act and
regulations, according to the RBI. Key Points:
a) According to the new recommendations, approved
dealers banks may allow Qualified Jewellers to make eleven-day advance payments
for gold imports through IIBX in accordance with the existing Foreign Trade
Policy and Regulations published under the IFSC Act.
b) In accordance with the terms of the sale contract
or other document in the nature of an irrevocable purchase order in terms of
the IFSC Act and regulations made thereunder by IFSCA, AD banks shall ensure
that advance remittance for such import through exchange/s authorised by IFSCA
is in accordance with the terms of the sale contract or other document in the
nature of an irrevocable purchase order in terms of the IFSC Act and
regulations made thereunder by IFSCA.
c) Furthermore, licenced dealers banks must perform
all due diligence and guarantee that the remittances sent are only for bona
fide import transactions through IFSCA-approved exchanges.
d) The RBI further noted that advance remittances for
gold imports should not be used in any way to import gold worth more than the
advance remittance made.
e)
QJ shall send the Bill of Entry (or any other applicable document
issued/approved by Customs Department for evidence of import) issued by Customs
Authorities to the AD bank from which advance payment has been made if gold is
imported through IIBX.
AWARDS AND HONOURS
1. Cannes Film
Festival 2022: The 75th edition of the Cannes Film Festival came to a
glittering close with the nine-member jury giving out the big awards at the
prestigious festival. The awards were selected by a nine-member jury headed by
French actor Vincent Lindon and presented in a closing ceremony inside Cannes’
Grand Lumière Theater. The jury included an Indian face in actor Deepika
Padukone. A separate section of two awards for documentary films was adjudged
earlier on Saturday. Those awards were adjudged by a separate jury.
Full List of Winners
at 2022 Cannes Film Festival:
Palme d’Or: Triangle
of Sadness, directed by Ruben Östlund
Grand Prix: Stars at
Noon, directed by Claire Denis and Close directed by Lukas Dhont
Jury Prize: Eo,
directed by Jerzy Skolimowski and Le Otto Montagne, directed by Charlotte
Vandermeersch and Felix van Groeningen
Best Director: Park
Chan-wook for Decision to Leave
Best Actor: Song
Kang-ho for Broker
Best Actress: Zar
Amir Ebrahimi for Holy Spider
Best Screenplay:
Tarik Saleh (Boy from Heaven)
Camera d’Or: Gina
Gammell and Riley Keough for War Pony
Jury Special Award:
Tori and Lokita
L’Oeil d’Or: All That
Breathes
Jury Special Award (documentary): Mariupolis 2
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