Daily GK Update- 18th June, 2022

 

NATIONAL UPDATES:

 

1. Mumbai Airport launched Vertical Axis Wind Turbine & Solar PV hybrid System: Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai has become India’s 1st airport to launch a one-of-its-kind Vertical Axis Wind Turbine & Solar PV hybrid (Solar Mill) to explore the possibility of utilization of wind energy at the airport. With this, Mumbai will become the first city in India to establish a one-of-its-kind hybrid power project at its airport.

About the Initiative:

a)      This sustainable initiative undertaken by CSMIA reduces dependence on conventional electricity which propels its journey towards ‘Net Zero’ emissions.

b)      This fully integrated, hybrid renewable energy product harnesses solar and wind energy merged to produce electricity.

c)       The energy produced through this technology can be customised on a need-specific basis. It’s easy to mount the technology on any mobile or static rooftop due to its modular and scalable size.

d)      The hybrid project will be launched in partnership with WindStream Energy Technologies India Pvt Ltd. The plant will need minimal maintenance of installation, unlike any other machines for electrical supply, as per the reports.

 

2. Tamil Nadu launched Ennum Ezhuthum scheme to bridge learning gap: Tamil Nadu Chief Minister, MK Stalin launched the Ennum Ezhuthum scheme to bridge the learning gap that was caused due to the COVID pandemic among students aged below eight. The scheme aims to ensure foundational literacy and numeracy by 2025. It was launched at an event in Azhinjivakkam panchayat union middle school, Tiruvallur. Under the programme:

a)      The education department will distribute workbooks to students from Classes 1 to 3 to assess and bridge the learning gap.

b)      Last week, a special training programme was conducted for teachers and handbooks were distributed.

c)       Teachers were advised to opt for interactive learning methods and encourage students to read newspapers and books in the school library.

d)      The State government has announced a slew of programmes and schemes for the academic year 2022-23, with the motive to improve the quality of education in the State.

e)      The children will be trained in 3 subjects – Tamil, English, and Mathematics in a classroom suitable for conducting lessons that are designed in the format of dance, songs, storytelling, and puppetry, and also videos.

Note: Tamil Nadu Capital: Chennai; Tamil Nadu Chief minister: K. Stalin;  Tamil Nadu Governor: N. Ravi.

 

3. Global Startup Ecosystem ranking: Kerala ranks top in Asia in global report: Providing a boost for Kerala’s start-up ecosystem, the State has been ranked first in Asia in Affordable Talent in Global Startup Ecosystem Report (GSER). The State has also been ranked fourth in global ranking in the GSER, drawn up jointly by policy advisory and research organisation Startup Genome and Global Entrepreneurship Network. In the first GSER published in 2020, Kerala was ranked 5th in Asia and 20th in the world. In cities category:

a)      As per the report released by the policy advisory and research firm Startup Genome, the city of Bengaluru has moved up to number 22 in the Global Startup Ecosystem ranking.

b)      Bengaluru’s tech ecosystem value is at $105 billion which is higher than that of Singapore at $89 billion and Tokyo at $62 billion, report showed.

 

4. India to have 5G services by March 2023: Union Communications Minister Ashwini Vaishnaw announced at the Viva Technology 2022 event that India will have full-fledged 5G services by March 2023. Vaishnaw told that the 5G spectrum auction will be concluded by the end of July, adding that Telecom is the key source of digital consumption, and it is very vital to introduce trusted solutions in telecom. Key Points:

a)      India has its own 4G infrastructure, including radios, equipment, and handsets. In March 2023, 4G will be ready for deployment in the field, while 5G will be ready in the lab.

b)      India should develop the technology and core network for 5G services; this would be a significant achievement for the country.

c)       The Union Cabinet, led by Prime Minister Narendra Modi, has finally approved the Department of Telecommunications’ (5G) spectrum auction, in which bidders would be assigned spectrum to provide 5G services to the general public and businesses.

d)      According to a statement from the Ministry of Communications, Telecom Service Providers are expected to use the Mid and High band spectrum to roll out 5G technology-based services capable of providing speeds and capacities that are about 10 times higher than what is currently possible with 4G services.

e)      Telecom Service Providers are projected to use the Mid and High band spectrum to roll out 5G technology-based services capable of providing speeds and capacities that are roughly 10 times better than what is now possible with 4G services.

 

INTERNATIONAL UPDATES:

 

1. APEDA organized mango festival in Bahrain to boost export of mangoes: The Agricultural and Processed Food Products Export Development Authority (APEDA) has organized an eight-day long mango festival in Bahrain to boost the export of Mangoes. 34 varieties of mangoes from eastern states of West Bengal, Bihar, Jharkhand, Uttar Pradesh and Odisha, are being displayed at eight different locations of Bahrain’s Al Jazira group supermarket.

All the varieties of mangoes have been directly procured from farmers and two Farmer Producer Organizations. The mango show will continue till the 20th of this month. The mango show in Bahrain is part of APEDA’s new initiatives to explore international markets for Indian mangoes under the ‘Mango Festival 2022.

About the mango show: The mango show in Bahrain is part of APEDA’s new initiatives to explore international markets for Indian mangoes under the ‘Mango Festival 2022’. It’s the outcome of APEDA’s commitment to provide a global platform for Indian mangoes that for the first time 34 varieties of mangoes from eastern states have been showcased in Bahrain. Besides, mangoes as a whole, several mango preparations like mango cake prepared in Al Jazira bakery, juices, different varieties of mango shakes, etc. have also been showcased at the festival.

Note: APEDA Formation: 1986; APEDA Headquarters: New Delhi; APEDA Chairman: M. Angamuthu.

 

2. International Picnic Day: 18th June: International Picnic Day is celebrated annually on 18 June. On this day, people spend time with their loved ones and go for picnics to get a break from their monotonous everyday routine. A picnic is a very good way to not only spend some quality time but also explore new feast spots.

History of the International Picnic Day: The word “picnic” probably gets its origins from the French language, specifically from the word “pique-nique”. It is believed that this type of informal outdoor meal became a popular pastime in France after the French Revolution in the mid-1800s when it was possible again to get out into the country’s royal parks. However, even if it began in France, it has become a lovely activity that has spread all over the world.

 

3. Sustainable Gastronomy Day: 18th June: Every year, the world observes Sustainable Gastronomy Day on 18 June. The objective of this day is to recognise the practices associated with sustainable food consumption, especially with the art of collecting and preparing the food we eat. To make this day a memorable one, the organisations work in collaboration with global and regional bodies to observe the day.

Sustainable gastronomy, means cuisine that takes into account where the ingredients are from, how the food is grown and how it gets to our markets and eventually to our plates.

Sustainable Gastronomy Day History: The day was recognised on 21 December 2016 after the United Nations General Assembly (UNGA) adopted the resolution A/RES/71/246, and declared 18 June as Sustainable Gastronomy Day. Every year, UNGA, Food and Agriculture Organization (FAO), and United Nations Educational, Scientific and Cultural Organization (UNESCO) work together to ensure that the day is celebrated properly around the world.

 

4. International Day for Countering Hate Speech: 18th June: International Day for Countering Hate Speech falls on June 18. According to the UN, hate speech is any kind of speech or writing that attacks or discriminates against a person or a group based on religion, ethnicity, nationality, race, color, descent, gender, or any other identity factor.

International Day for Countering Hate Speech History: In July 2021, the UN General Assembly highlighted global concerns over “the exponential spread and proliferation of hate speech” around the world and adopted a resolution on “promoting inter-religious and intercultural dialogue and tolerance in countering hate speech”. The resolution recognizes the need to counter discrimination, xenophobia and hate speech and calls on all relevant actors, including States, to increase their efforts to address this phenomenon, in line with international human rights law. The resolution proclaimed 18 June as the International Day for Countering Hate Speech, which will be marked for the first time in 2022.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. HSBC India announced $250 Million lending support for Indian start-ups: Hong Kong and Shanghai Banking Corporation Limited, India (HSBC India) has announced USD 250 million in lending support for high-growth, technology-led start-ups in India, which has the world’s third-largest start-up ecosystem. HSBC will administer the lending via its commercial banking division. It has also not mentioned any specific timeframe for disbursal of the amount.

HSBC stated that the lending will be done to high-growth, tech-led startups in the third largest startup ecosystem in the world. HSBC has prepared a credit model and offerings to suit the specific requirements of a wide spectrum of startups and new-age entities, ranging from growth stage to unicorns.

Note: HSBC India Founded: 1853; HSBC India Headquarters: Mumbai, Maharashtra; HSBC India CEO: Hitendra Dave.

 

2. UPEIDA signs MoUs with SBI, BOB, PNB, and SIDBI for UP: To encourage investment in the UP Defense Industrial Corridor, the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has inked MoUs with the State Bank of India (SBI), Bank of Baroda (BOB), Punjab National Bank (PNB), and Small Industries Development Bank of India (SIDBI).

Key Points:

a)      The bank would provide financial help in the form of ease of doing business to investors in the UP Defense Industrial Corridor, according to the deal.

b)      UPEIDA has now collaborated with three major nationalised banks in the country, State Bank of India (SBI), Bank of Baroda (BOB), Punjab National Bank (PNB), and Small Industries Development Bank of India (SIDBI), as part of its continuous support to investors in the Corridor, according to a release.

c)       These are intended to assist investors interested in establishing a business in the UP Defence Industrial Corridor in obtaining financial support as part of the Ease of Doing Business initiative.

d)      Banks will provide these investors with tailored financial support on a case-by-case basis to assist them in establishing their businesses.

Note: State Bank of India (SBI) chairman: Dinesh Kumar Khara; Bank of Baroda (BOB) Chairman: Hasmukh Adhia; Punjab National bank (PNB) Chairman: Atul Kumar Goel

 

BUSINESS AND ECONOMY

 

1. WPI inflation spiked to 15.88% in May 2022: Wholesale price inflation spiked to 15.88% in May, the highest since September 1991 as a surge in price pressure in food and fuel overwhelmed a moderation in the dominant manufactured product segment. In April, the WPI inflation was recorded at 15.08%. Inflation based on the wholesale price index (WPI) has remained in double digits for 14 months now, mirroring elevated global commodity prices, especially of oil, according to the official data released.

 

2. Adani Transmission’s $700 million loan gets ‘green loan’ tag: Adani Transmission Limited’s, $700 million revolving facility has been tagged as a ‘green loan’ by Sustainalytics. This assures the green loan framework for the revolving facility. Sustainalytics had issued the independent SPO on the alignment of the reviewed framework with the current market standards and the extent to which the eligible project categories are credible and impactful.

About the project:

a)      A revolving loan facility is a flexible financing tool that provides the borrower with the ability to draw down or withdraw, repay, and withdraw again.

b)      The projects associated with the USD 700 million revolving facility are being implemented in Gujarat and Maharashtra.

c)       In October 2021, the company in a regulatory filing had announced raising USD 700 million for its under-construction transmission asset portfolio through the definitive agreements signed with leading international banks.

d)      MUFG Bank has acted as Green Loan Coordinator to the issuer for arranging the SPO on Green Loan Framework prepared by Adani Transmission.

Note: Adani Transmission Limited CEO: Anil Kumar Sardana; Adani Transmission Limited Founder: Gautam Adani; Adani Transmission Limited Founded: 9 December 2013; Adani Transmission Limited Headquarters: Ahmedabad.

 

OBITUARIES

 

1. Eminent Urdu critic & linguist Professor Gopi Chand Narang passes away: Renowned Urdu scholar, linguist, theorist, literary critic, and former Chairperson of Sahitya Akademi Professor, Gopi Chand Narang has passed away at 91. He was a Professor Emeritus at the University of Delhi and Jamia Millia Islamia. He has been honoured with the Padma Bhushan (2004) and Sahitya Akademi Awards (1995). He incorporated a range of modern theoretical frameworks, including stylistics, structuralism, post-structuralism, and Sanskrit poetics.