Daily GK Update- 4th May, 2022

 

NATIONAL UPDATES:

 

1. Chhattisgarh launched ‘Mukhyamantri Mitaan Yojana’: Chief Minister of Chhattisgarh, Bhupesh Baghel has launched ‘Mukhyamantri Mitaan Yojana’ (Mitaan stands for a friend), which will be implemented on a pilot basis in 14 municipal corporations including the cities like Raipur, Durg, Bilaspur and Rajnandgaon in Chhattisgarh. Under the Scheme, the residents of Chhattisgarh can avail around 100 public services at their doorstep.

In the first phase:

a)      13 services in 14 municipal corporation areas have been included under the ‘Mitaan’ scheme as announced by the CM in his budget speech for the fiscal year 2022-23.

b)      Under the Scheme, people can contact the ‘Mitaan’ (nominated individual) on the toll-free number (14545) for the service. The required documents of the residents will be collected from their homes through the Mitaan, who will then scan the certificates and get the processes rolling for the issuance of certificates or services.

c)       Once the concerned department issues the certificate, it will then be delivered at the citizen’s doorstep by the ‘Mitaan’ in a sealed envelope within the prescribed time limit.

 

2. Asia’s biggest international food and hospitality fair held in New Delhi: Agricultural and Processed Food Products Export Development Authority (APEDA) in association with the India Trade Promotion Organization (ITPO) is organizing Asia’s biggest international food and hospitality fair AAHAR-2022 at Pragati Maidan in New Delhi. Commerce and Industry Ministry said, more than 80 exporters from different segments of agricultural products which include geographical indication products, processed food, organic, and frozen food products will participate in the fair.

 

3. In a first, Maharashtra app maps workers’ migration for portability of ICDS scheme: In a first of its kind project in the country, the Maharashtra government has developed a website-based migration tracking system (MTS) application to map the movement of vulnerable seasonal migrant workers through individual unique identity numbers. The state government’s women and child development (WCD) department launched it as a pilot project in November last year in six districts with high tribal population including Gadchiroli, Chandrapur, Amravati, Jalna, Palghar and Nandurbar. The MTS project is envisaged to maintain the continuity of the Integrated Child Development Services (ICDS) like nutrition supply, immunisation and health check-up etc. to migrant beneficiaries including children aged up to 18 years, lactating mothers and pregnant women registered with the anganwadi centres.

 

4. J&K: India’s first cable-stayed bridge- Anji Khad Bridge to be complete by Dec 2022: India’s first cable-stayed bridge- Anji Khad Bridge will be complete by December this year in Reasi district of the Union Territory of Jammu and Kashmir. This was stated by Konkan Railways Project Officer Sanjay Kumar. Anji Khad Bridge is situated over the Anji river. It will connect the Katra-Reasi section at the Udhampur-Srinagar-Baramulla route. The 272-kilometer long Udhampur-Baramulla Railway Line will be a game-changer for the Union Territory and 80 percent of the work on the project has been completed.

 

5. Govt clears nearly Rs 61,000 cr subsidy for phosphate-based fertilisers for upcoming Kharif season: Union Cabinet has approved Nutrient Based Subsidy rates for Phosphatic and Potassic, P&K fertilizers for Kharif Season-2022. Mr Anurag Thakur said the government has approved over 60 thousand 939 crore rupees on P&K fertilizers which is applicable for six months from 1st of April  to 30th September 2022 to ensure smooth availability of these fertilizers to the farmers at affordable prices.

 

6. Punjab govt to pay Rs 1500 per acre assistance to farmers adopting direct sowing of paddy: Punjab Chief Minister Bhagwant Mann announced 1500 rupees per acre financial assistance to farmers adopting direct sowing of paddy so that the depleting water table could be saved. In a video message, Bhagwant Mann asked farmers to bring more agricultural land under direct sowing of paddy instead of the traditional paddy transplantation. Expressing concern over the depleting groundwater table day by day Mann said that some districts had fallen in red zone category. He said the traditional methods of paddy sowing leads to excessive consumption of water, which resulted in depletion of water table.

 

INTERNATIONAL UPDATES:

 

1. World Press Freedom Index 2022: India ranked 150th: Reporters Without Borders (RSF) has released the 20th World Press Freedom Index 2022, which assesses the state of journalism in 180 countries and territories. The Index highlights the disastrous effects of news and information chaos – the effects of a globalised and unregulated online information space that encourages fake news and propaganda.

Key points of the Index:

a)      India’s ranking in the Index has fallen down to 150th position from last year’s 142nd rank.

b)      The ranking of India’s neighbours, except that of Nepal, has also slid down, with the index placing. Nepal has climbed up by 30 points in the global ranking at 76th position.

c)       Pakistan at 157th position, Sri Lanka 146th, Bangladesh 162nd and Maynmar at 176th position.

d)      Norway (1st) Denmark (2nd), Sweden (3rd) Estonia (4th) and Finland (5th) grabbed the top positions, while North Korea remained at the bottom of the list of the 180 countries and territories.

e)      Russia was placed at 155th position, down from 150th last year, while China climbed up by two positions with the Reporters Without Borders placing it at 175th position. Last year, China was placed at 177th position.

f)        The invasion of Ukraine (106th) by Russia (155th) at the end of February reflects this process, as the physical conflict was preceded by a propaganda war.

 

2. International Firefighter’s Day: 4th May: International Firefighter’s Day is observed every year on May 4th to pay respect to those firefighting experts who have lost their lives in the line of duty. The main aim of this day is to recognise and honour professional firefighters across the world. They keep the community and the environment safe by sacrificing their lives for the riskiest jobs.

History of the Day: A tragic incident in Australia’s Linton led to the establishment of International Firefighters Day. This historical accident happened on December 02, 1998, which led to the taking of the lives of 5 firefighters. Therefore, a proposal was passed on January 04, 1999, to honour the firefighters who lost their lives on duty.

 

3. Coal Miners Day: 4th May: Coal Miners Day is observed on 4th May every year to honour the coal miners. The day is celebrated to highlight the contributions of coal miners in meeting our energy demands. Below, we share a bit of the history of coal mining, the current energy scenario, and the role of coal miners in India.

History of the day: The day honours the accomplishments and sacrifices made by coal mine workers so far. While the first-ever coal mine was opened in 1575 by one George Bruce of Carnock, Scotland. In India, the coal mining business began in 1774. It was when the East India Company exploited the Raniganj coalfield which is located in the Asansol and Durgapur It falls along the bank of River Damodar that crosses Jharkhand and West Bengal.

 

OTHER UPDATES:

 

SPORTS

 

1. Haryana government to build stadium in Neeraj Chopra’s hometown: Haryana Chief Minister Manohar Lal Khattar has announced that a stadium will be built in Olympic gold-medallist Neeraj Chopra’s native village in Panipat. A stadium would be built in Neeraj Chopra’s village for Rs 10 crore. Last year, Chopra became the first Indian to win a gold medal in the Olympic track and field.

Khelo India Youth Games-2021 will be organised by the Haryana Government from June 4 to June 13. Haryana has become a sports hub and players from the state have brought laurels at various national and international level sporting events. Haryana is also giving the highest prize money to its players.

 

BANKING AND FINANCE

 

1. Under Project WAVE, Indian Bank has launched a pre-approved personal loan: The public sector bank, The Indian Bank has presented a pre-approved personal loan product under Project WAVE. The Chennai-based bank announced the World of Advance Virtual Experience, WAVE digital transformation project in January 2022 to introduce its first digital product, the Pre-Approved Personal Loan (PAPL), which intends to give consumers with rapid loan disbursements.

Key Points:

a)      They proclaimed their commitment to ushering in an era of digital change at Indian Bank through project WAVE at the start of the year. They debuted their first PAPL product, which will only be available through internet outlets.

b)      The service is offered to existing clients who have regular income and pension accounts, as well as PAPL loan products, and can be accessed via a mobile application, the bank’s website, and internet banking.

c)       The loan would have a ten percent annual interest rate and no foreclosure fees.

d)      Indian Bank is giving the loan at the finest conditions available in the domestic market, with the option to choose loan tenure from 24 to 48 months and the ability to close the loan before time without penalty.

Note: Indian Bank’s managing director and CEO: S L Jain

 

2. India gets its 100th unicorn startup as neobank Open: India got its 100th unicorn when neobanking fintech portal, “Open”, raised fresh capital to push up its value to over a billion dollars. The five-year-old Bengaluru-based neobank raised $50 Mn in a Series D funding round from IIFL, Singaporean state holding company Temasek, American investment firm Tiger Global and another Indian firm 3one4 Capital. This helped its valuation cross the $1 bn mark.

The funding comes just six months after Google, Temasek, Visa, and Japan’s SoftBank invested $100 million in the neobank startup. This funding signifies the enthusiasm in the Indian startup ecosystem, which is the world’s third-largest according to Economic Survey, 2021-22. India overtook the UK to reach the spot after the US and China, which added 487 and 301 unicorns respectively, according to the survey.

 

3. Sangeeta Singh appointed as chairman of CBDT: Sangeeta Singh, a 1986 batch Indian Revenue Service (IRS) officer has been given additional charge of Chairman, Central Board of Direct Taxes (CBDT), after incumbent JB Mohapatra retired as the head of the direct taxes administration body on April 30. Currently, the board has four members including Sangeeta Singh.

Other appointments: Anuja Sarangi, a 1985 batch officer is holding charge of Member, Administration, and Faceless Scheme, Nitin Gupta is handling the charge of Investigation and Pragya Sahay Saksena is handling the charge of member legislation and systems.

Note: Central Board of Direct Taxes Formation: 1964; Central Board of Direct Taxes Headquarters: New Delhi.

 

BUSINESS AND ECONOMY

 

1. IRDAI authorise insurance companies for investment of 25% to 30% of assets in BFSI sector: The Insurance Regulatory and Development Authority of India (IRDAI) increased insurers’ maximum investment limit in banking, financial services, and insurance (BFSI) companies from 25% to 30% of their assets. The threshold for financial and insurance actions will now be 30 percent of investment assets for all insurers, according to the most recent modifications to IRDAI’s investment Regulations, 2016. This will include investments in home finance companies and infrastructure finance companies.

Key Points:

a)      Experts believe that the regulator’s increase will assist insurers in bringing their financial and insurance exposure closer to broader Indian market indexes.

b)      Financial services firms, which include significant banks, non-banking financial organisations (NBFCs), and insurance companies, have a present weightage of roughly 35 percent.

c)       The weightage of financial and insurance companies in broader Indian market indices has consistently increased over the last few years, according to Sampath Reddy, chief investment officer, Bajaj Allianz Life Insurance Co. Ltd.

 

OBITUARIES

 

1. Singer Tarsame Singh Saini aka Taz of Stereo Nation passes away: London-based Indian singer Tarsame Singh Saini, popularly known as Taz, passed away, aged 54. The singer from Stereo Nation was suffering from hernia for the last two years and breathed his last in London. Taz started his career with cross-cultural Asian music in the 80s.The singer debuted with the song Hit the Deck and shot to fame after that. Taz also went by the name Johnny Zee and is known for songs like Nachenge Saari Raat, Gallan Goriyan and Pyaar Ho Gaya. He was the lead singer of the band Stereo Nation that was formed in the 90s. He also lent his voice for films such as Koi Mil Gaya, Tum Bin and, recently, Gallan Goriyan from Batla House with Dhwani Bhanushali.