Daily GK Update- 31st May, 2022

 

NATIONAL UPDATES:

 

1. North India’s first Industrial Biotech Park inaugurated at Kathua in J&K: Jammu and Kashmir (J&K) Lieutenant Governor, Manoj Sinha and Union minister Jitendra Singh inaugurated the north India’s first Industrial Biotech Park constructed at Ghatti near Kathua. The Industrial Biotech Park at Kathua will transform the economy and enable scientists to tackle the challenges of climate change. The enabling infrastructure will fuel a new wave of innovation and impact various sectors, from health and agriculture to cosmetics and materials.

About the Industrial Biotech Park:

a)      With new biotech capabilities and innovation, J&K, bestowed with more than 3500 medicinal plant species, will be able to harness market advantages in the most effective way and help the farmers to generate more income, asserted the Lt Governor.

b)      The new Industrial Development Scheme has enabled J&K to fetch investment of more than Rs 38,800 crore as of date, which also includes proposals of 338 industrial units associated with the biotech sector in some way or the other.

c)       The Biotech Park would act as the hub for the incubation of new ideas and will act as a robust platform to support the agri-entrepreneurs, startups, progressive farmers, scientists, scholars and students not only from Jammu and Kashmir and Ladakh but also from nearby states of Punjab, Haryana and Himachal Pradesh.

 

2. Ease of living: Common platform called Jan Samarth to be launched soon: The government intends to launch Jan Samarth, a unified platform for the delivery of multiple initiatives administered by several ministries and departments, in order to make life easier for the average man. The new portal will initially enrol 15 credit-linked government initiatives, as part of the Narendra Modi government’s objective of minimum government maximal governance.

Key Points:

a)      They noted that because some of the Centrally Sponsored Schemes include various agencies, the services will be gradually increased based on compatibility.

b)      Different ministries, for example, run initiatives like the Pradhan Mantri Awas Yojana and the Credit Linked Capital Subsidy Scheme (CLCSS).

c)       The proposed portal aims to put various schemes together on a single platform so that beneficiaries can access them easily. State Bank of India and other lenders are doing pilot testing and tying up loose ends before the official launch, according to the statement.

d)      Because of the portal’s open architecture, state governments and other organisations will be able to add their plans to the platform in the future.

e)      To make it easier for borrowers, the government developed a platform in 2018 that offered a variety of credit products, including MSME, home, auto, and personal loans.

f)        Various state-owned banks can now approve loans for MSMEs and other borrowers in principle in 59 minutes, compared to the previous turnaround time of 20-25 days.

                               

3. Justice Mohanty gets additional charge of Lokpal chairperson: President Ram Nath Kovind has given justice Pradip Kumar Mohanty the additional charge of Lokpal chairperson after justice Pinaki Chandra Ghose completed his term as the Lokpal chief. At present, there are six members in the Lokpal. President Ram Nath Kovind had on March 23, 2019, administered the oath of office to justice Ghose as the Lokpal chairperson. Key Points:

a)      Two posts of judicial members have been lying vacant for over two years.

b)      The Lokpal and Lokayuktas Act, which envisages the appointment of a Lokpal at the Centre and Lokayuktas in states to look into cases of corruption against certain categories of public servants, was passed in 2013.

c)       A Lokpal chief and members are appointed for a term of five years or until attaining the age of 70 years.

d)      A Lokpal chief and its members are appointed by the President after obtaining the recommendations of a selection committee headed by the Prime Minister and comprising the speaker of the Lok Sabha, the Leader of Opposition in the lower house, the Chief Justice of India or a judge of the Supreme Court nominated by him, and an eminent jurist as recommended by the chairperson and members of the selection panel.

 

INTERNATIONAL UPDATES:

 

1. Fortune 500 list: Elon Musk, world’s richest man, was 2021’s highest paid CEO: Elon Musk, the multi-billionaire CEO of Tesla and SpaceX highest-paid executive in the world. Musk has topped the Fortune’s new list of the most highly compensated CEOs on the Fortune 500. In 2021, Musk “realized” compensation worth almost USD 23.5 billion, from exercising some Tesla stock options awarded in a 2018 multiyear “moonshot” grant. After Musk, the 10 most highly compensated Fortune 500 CEOs of 2021 are all tech and biotech CEOs, including the heads of Apple, Netflix, and Microsoft.

List of top 10 most highly compensated CEOs:

Elon Musk, Tesla: USD 23.5 Billion

Tim Cook, Apple: USD 770.5 Million

Jensen Huang, NVIDIA: USD 561 Million

Reed Hastings, Netflix: USD 453.5 Million

Leonard Schleifer, Regeneron Pharmaceuticals: USD 452.9 Million

Marc Benioff, Salesforce: USD 439.4 Million

Satya Nadella, Microsoft: USD 309.4 Million

Robert A. Kotick, Activision Blizzard: USD 296.7 Million

Hock E. Tan, Broadcom: USD 288 Million

Safra A. Catz, Oracle: USD 239.5 Million

 

2. World No Tobacco Day: 31st May: World No Tobacco Day is observed on 31st May globally. This yearly celebration aims to raise awareness amid the global citizens about not only the dangers of using tobacco but also the business practices of tobacco companies, what WHO is doing to fight the tobacco epidemic and what people around the world can do to claim their right to health and healthy living and to protect future generations. The theme for 2022 is Tobacco: Threat to our environment. The Day is an annual celebration that informs the public on the dangers of using tobacco, the business practices of tobacco companies, what the World Health Organization (WHO) is doing to fight tobacco use, and what people around the world can do to claim their right to health and healthy living.

History of the day: In 1987, the World Health Assembly passed Resolution WHA40.38, calling for April 7, 1988, to be “a world no-smoking day” and in 1988, Resolution WHA42.19 was passed, calling for the celebration of World No-Tobacco Day, every year on May 31.

 

OTHER UPDATES:

 

SPORTS

 

1. IPL 2022 Final: Gujarat Titans won the title: The Indian Premier League (IPL) 2022 ended with Gujarat Titans (GT) lifting the trophy by defeating inaugural champions Rajasthan Royals (RR) at the Narendra Modi Stadium, Ahmedabad on May 29. The Indian Premier League (IPL) 2022, was the 15th edition of the professional Twenty20 cricket league established by the Board of Control for Cricket in India (BCCI).

IPL 2022 Final: List Of All Prize Winners

Aramco Purple Cap Winner Of The Season: Yuzvendra Chahal (27 Wickets)

Aramco Orange Cap Winner Of The Season: Jos Buttler (863 Runs)

Player Of The Match (Final): Hardik Pandya

Upstox Most Valuable Player Of The Season: Jos Buttler

Punch Super Striker Of The Match (Final): David Miller

Dream11 Game Changer Of The Match (Final): Hardik Pandya

Unacademy Let’s Crack It Sixes Award (Final): Yashasvi Jaiswal

CRED Powerplayer Of The Match (Final): Trent Boult

Upstox Most Valuable Asset Of The Match (Final): Hardik Pandya

SwiggyInstamart Fastest Delivery Of The Match (Final): Lockie Ferguson

Rupay On The Go 4s Of The Match (Final): Jos Buttler

IPL 2022 Emerging Player Of The Season: Umran Malik

Unacademy Let’s Crack It Sixes Award Of The Season: Jos Buttler

Punch Super Striker Of The Season: Dinesh Karthik (SR – 183.33)

Dream 11 Game Changer Of The Season: Jos Buttler

PayTM Fairplay Award: Gujarat Titans & Rajasthan Royals

CRED Powerplayer Of The Season: Jos Buttler

SwiggyInstamart Fastest Delivery Of The Season: Lockie Ferguson (157.3 KMPH)

Rupay On The Go 4s Of The Season: Jos Buttler

Tata IPL Catch Of The Season: Evin Lewis

 

2. Women’s T20 Challenge: Supernovas Beat Velocity: Supernovas won the Women’s T20 Challenge 2022 with a four-run victory over Velocity in the title clash. West Indies T20 specialist Deandra Dottin shined with both bat and ball as she powered Supernovas to a record third Women’s T20 Challenge title triumph with a four-run victory over Velocity. The Women’s T20 Challenge is an Indian women’s cricket 20-20 tournament organised by BCCI.

Supernovas had won the first two editions of the Women’s T20 Challenge in 2018 and 2019 before losing to Trailblazers in the final in 2020. The tournament was not held last year due to the COVID-19 pandemic.

 

 

BANKING AND FINANCE

 

1. India Post Payments Bank introduced issuer charges for AePS: India Post Payments Bank (IPPB), Department of Post (DoP), and Ministry of Communication have introduced issuer charges for the Aadhaar Enabled Payment System (AePS). AePS Issuer transaction charges will be in effect from June 15, 2022. AePS is a bank-led model that enables online interoperable financial inclusion transactions at the Point of Sale (MicroATM) using Aadhaar verification through any bank’s business correspondent. AePS provides six different transaction types.

The monthly first 3 cumulative AePS Issuer transactions, such as cash withdrawal, cash deposit, and mini statement, will be provided free of charge. Over the free transaction limit, AePS issuer cash withdrawals and cash deposits will be charged Rs. 20 plus GST for each transaction and mini statement transactions will be charged Rs. 5 plus GST per transaction.

Note: India Post Payments Bank Founded: September 1, 2018, under the Department of Posts, Ministry of Communication; India Post Payments Bank Headquarters: New Delhi, Delhi; India Post Payments Bank MD & CEO: J Venkatramu; India Post Payments Bank Tag line: Aapka Bank, Aapke Dwaar.

 

2. FIEO launches first-of-its-kind B2B digital marketplace for exporters, MSMEs and farmers: The Federation of Indian Export Organisations (FIEO) has launched the first-of-its-kind online marketplace for Indian exporters and foreign buyers. The marketplace – Indian Business Portal – will act as a B2B digital marketplace to help micro, small and medium enterprises (MSME) exporters, artisans and farmers to identify new markets for their products and grow their sales globally. Minister of State for Commerce & Industry Anupriya Patel, was present at the launch.

The marketplace has been designed and developed in partnership with GlobalLinker, which already provides a business networking platform for SMEs and startups. The portal will digitize Indian exporters and help them become discoverable online, promote exports from all Indian states, and showcase a wider range of products and services. More than 2,000 small businesses have already joined, listing over 40,000 products and services. FIEO will promote the marketplace worldwide.

Note: Federation of Indian Export Organisations Founded: 1965; Federation of Indian Export Organisations Headquarters: New Delhi; Federation of Indian Export Organisations President: Dr A Sakthivel; Federation of Indian Export Organisations Director General & CEO: Dr. Ajay Sahai.

 

BUSINESS AND ECONOMY

 

1. CCEA cleared sale of GoI’s 29.5% stake in Hindustan Zinc: Cabinet Committee on Economic Affairs (CCEA) has approved the government’s 29.5% stake sale in Hindustan Zinc Ltd (HZL). The sale of a 29.58% stake represents more than 124.96 crore shares which would raise around Rs 38,000 crores at the current market price. This decision will strengthen the government’s disinvestment drive in the current fiscal year. The government has budgeted 65,000 crores from PSU disinvestment and strategic sale. Shares of HZL closed at ₹305.05, up 3.14% on the BSE. During the day, the scrip touched a high of ₹317.30 a share.

History of Hindustan Zinc Limited business: Till April 2002, the Hindustan Zinc Limited (HZL) was a government-owned company. In 2002, the government offloaded a 26% stake in HZL to Sterlite Opportunities and Ventures Ltd (SOVL). Vedanta group later bought 20% from the market and another 18.92% from the government in November 2003, raising its ownership in Hindustan Zinc to 64.92 per cent. Vedanta, led by mining magnate Anil Agarwal, recently said the company can buy just 5 per cent additional stake in the HZL considering the price of the shares on offer.

Note: Hindustan Zinc Limited Chairman: Kiran Agarwal; Hindustan Zinc Limited Headquarters: Udaipur, Rajasthan.

 

AWARDS AND HONOURS

 

1. Shaunak Sen’s documentary ‘All That Breathes’ wins L’OEil d’Or award at Cannes Film Festival: Filmmaker Shaunak Sen’s documentary All That Breathes, India’s only entry at Cannes Film Festival 2022, has won the 2022 L’Oeil d’Or, the festival’s top prize for documentaries. “L’Oeil d’Or goes to a film that, in a world of destruction, reminds us that every life matters, and every small action matters. The award includes a cash prize of 5,000 euros (₹4.16 lakh approximately).

About the L’Oeil d’Or documentary award: The L’Oeil d’Or documentary award, also known as The Golden Eye award, was created in 2015 by the French-speaking authors’ society LaScam in collaboration with the Cannes Film Festival.

Other awards won by All That Breathes documentary: All That Breathes had also won the World Cinema Grand Jury Prize: Documentary at the 2022 Sundance Film Festival. Recently, it was acquired by HBO, a US-based cable network. After its release in the US late this year, the documentary will debut on HBO and streaming service HBO Max in 2023.

 

OBITUARIES

 

1. Punjabi singer Sidhu Moose Wala shot dead: 29-year old Punjabi singer, Sidhu Moose Wala was shot dead by unidentified assailants in Jawaharke village of Mansa district, Punjab. The incident happened a day after the Punjab Police ordered the withdrawal of security of his security along with more than 420 people, including former MLAs, Jathedars of two Takhts, heads of Deras, and police officers.

Sidhu Moose Wala: Born on June 17, 1993, Shubhdeep Singh Sidhu aka Sidhu Moose Wala belonged to the Moose Wala village in Mansa district. Moose Wala had a fan following running into millions and was popular for his rap. Moose Wala held a degree in electrical engineering. He had learned music during his college days and had later moved to Canada. Sidhu Moose Wala had contested this year’s Punjab assembly election on a Congress ticket from Mansa and was defeated by AAP candidate Vijay Singla by a huge margin of 63,000 votes.