Daily GK Update- 23rd June, 2022

 

NATIONAL UPDATES:

 

1. India’s first ‘Balika Panchayat’ constituted in five villages of Gujarat: The country’s first-ever, ‘Balika Panchayat’, has started in five villages of Gujarat’s Kutch district. The initiative aims to promote the social and political development of the girls and ensure their active participation in politics. The Panchayat has started in Kunaria, Maska, Motagua, and Vadsar villages of the Kutch district. This initiative has been taken by the Women and Child Development Welfare Department of the Gujarat Government under the ‘Beti Bachao Beti Padhao’ campaign. The Ministry of Women and Child Development is also planning to begin the girl panchayat across the country.

About the “Balika Panchayat”: “Balika Panchayat” is managed by people in the 11-21 age group and its main objective is to promote the social and political development of the girl child and to remove the evil practices from the society such as child marriage, and the dowry system. The main objective of panchayat is that the girls should move forward in politics. In Balika panchayat, the member is nominated just like Gram panchayat.

 

2. ‘Single-Use Plastic’ use to ban by Union Govt. from 1st July, 2022: ‘Single-Use Plastic’ use to be outflow from July 1st, 2022 by the Union government. Single-use plastics, particularly those made of polystyrene and expanded polystyrene, will be illegal to produce, import, stock, distribute, sell, and use starting on July 1, 2022, nationwide. A national task group has also been established by the Environment Ministry to make coordinated efforts in this area.

Key Points:

a)      According to a response submitted by Minister of State for Environment Ashwini Choubey in Parliament, fourteen states and UTs have joined the special task force by July 23.

b)      The Delhi Environment Department will also launch a campaign on July 1 to guarantee compliance with the ban on 19 single-use plastics in the national capital, and any producers, suppliers, stockists, dealers, or sellers found in violation of the restrictions would be shut down.

c)       The manufacturing, importation, stocking, distribution, sale, and use of certain single-use plastic (SUP) goods, such as candy sticks, plates, cups, and cutlery, have been outlawed as of July 1, 2022, according to the Plastic Waste Management Amendment Rules, 2021, which were announced by the Center.

List of items Identified as SUP: Earbuds, plastic balloon sticks, flags, candy sticks, ice-cream sticks, polystyrene (thermocol), plates, cups, glasses, forks, spoons, knives, straws, trays, wrapping or packaging films around sweets boxes, invitation cards, cigarette packets, plastic or PVC banners less than 100 micron, and banners made of less than 100 micron thick are among the 19 items identified as SUP.

 

3. Tamil Nadu became the largest state in outstanding microfinance loan: Tamil Nadu replaced Bihar and West Bengal to become the largest state in terms of outstanding portfolio of microfinance loans. According to MFIN Micrometer Q4 FY21-22, a quarterly report published by Microfinance Institutions Network (MFIN), the gross loan portfolio (GLP) of Tamil Nadu as of March 31, 2022 stood at ₹36,806 crore. It was followed by Bihar (₹35,941 crore) and West Bengal (₹34,016 crore).

At the end of Q3FY22, West Bengal topped the chart with the highest outstanding portfolio of loans at ₹32,880 crore, followed by Tamil Nadu (₹32,359 crore). The Top 10 States (based on total microcredit universe) constitute 82.4 per cent of total GLP of the industry. West Bengal was followed by Karnataka, Uttar Pradesh and Maharashtra. According to the report, around 64 per cent of the microfinance portfolio is concentrated in the East, Northeast, and Southern regions.

Note: Tamil Nadu Capital: Chennai; Tamil Nadu Chief Minister: MK Stalin; Tamil Nadu Governor: RN Ravi.

 

4. Shanan Dhaka secured 1st rank to the First Women’s NDA Batch: Shanan Dhaka, daughter of Sundana village of Rohtak, has secured the first rank in the examination for admission to the country’s first women’s NDA batch. Shanan has secured 10th position in Boys’ examination and first position in Girls’ examination across the country.  Selected for lieutenant, Shanan Dhaka, inspired by Grandfather Subedar Chandrabhan Dhaka and father Nayak Subedar Vijay Kumar Dhaka, joined the army and chose to serve the country.

 

5. Haryana CM releases a book ‘Ashtang Yoga’ by Dr Sonu Phogat: Haryana Chief Minister Manohar Lal khattar on the eve of 8th International Yoga Day released a book titled Ashtang Yoga authored by Dr Sonu Phogat. Manohar Lal khattar said that every person should have a resolution for Yoga and he has to connect himself with the resolution. He said that the Mantra of Yog to Sehyog will show us a new way to the future. Appreciating the efforts of writer Dr Sonu Phogat, it is a matter of pride that the book on Yoga was released on the eve of International Yoga Day. He said that it will benefit the people.

 

INTERNATIONAL UPDATES:

 

1. Sri Lanka revises Minimum Age for Migrant Domestic Workers: In Sri Lanka, the government has amended the minimum age limit for women leaving for foreign employment as domestic aides to 21 years of age. The decision was announced at the weekly Cabinet meeting. However, the minimum age limit for Saudi Arab has been set at 25 years, and 23 years for the other countries in the Middle East. The minimum age limit announced as 21 for the rest of the Middle East countries other than Saudi Arabia.

On other hand, a team from the International Monetary Fund is in Sri Lanka for crucial bailout negotiations with the crisis-ridden country that is left with virtually no foreign exchange to import food, fuel and medicines. The talks began as schools and government offices shut down for two weeks and switched to working online to conserve fast depleting fuel supplies. The nine-member team has met Prime Minister Ranil Wickremesinghe and will be in the country for 10 days.

Note: Sri Lanka Capitals: Colombo, Sri Jayawardenepura Kotte; Sri Lanka President: Gotabaya Rajapaksa; Sri Lanka Currency: Sri Lankan rupee; Sri Lanka Prime minister: Ranil Wickremesinghe.

 

2. United Nations Public Service Day: 23rd June: With the aim to appreciate the value of public institutions and public servants, June 23 is observed as United Nations Public Service Day. UN Public Service Day celebrates the value and virtue of public service to the community; highlights the contribution of public service in the development process; recognizes the work of public servants, and encourages young people to pursue careers in the public sector. The theme for this year’s event is “Building back better from COVID-19: Enhancing innovative partnerships to meet the Sustainable Development Goals.”

United Nations Public Service Day History: The origin of the UN Public Service day goes back to December 20, 2002, when the General Assembly selected June 23 as Public Service Day after adopting a resolution 57/277. With an aim to give the day its recognition, the UN established the UN Public Service Awards (UNPSA) programme in 2003, which was later reviewed in 2016. This was done to align the day with the 2030 Agenda for sustainable development.

 

3. International Olympic Day: 23rd June: International Olympic Day is celebrated on June 23rd across the globe. The day is primarily celebrated to commemorate the birth of modern Olympic Games. This year, the theme for the International Olympic Day is “Together For A Peaceful World.” The theme represents the ability of sports to bring the world together and dimmish the differences.

International Olympic Day History: At the 41st session of the International Olympic Committee in Stockholm, a member of the IOC named Doctor Gruss, submitted a report suggesting the celebration of Olympic Day. Submitted in 1947, the report was discussed and the suggestions were finally implemented in 1948 at the 42nd IOC session in St Moritz. The day was decided as June 23 to commemorate the founding of the International Olympic Committee at Sorbonne, Paris in 1894. Under the leadership of Sigfrid Edstrom, who was the president of the IOC at that time, the first International Olympic Day was celebrated on June 23, 1948.

Note: International Olympic Committee Headquarters: Lausanne, Switzerland; International Olympic Committee President: Thomas Bach; International Olympic Committee Founded: 23 June 1894, Paris, France; International Olympic Committee Director General: Christophe De Kepper.

 

4. International Widows’ Day: 23rd June: International Widows’ Day is observed across the world on 23 June. The day aims to gather support for widows and to spread awareness about their situation. International Widows’ Day is a day of action to address the “poverty and injustice faced by millions of widows and their dependents in many countries”. This year’s theme is – “Sustainable Solutions for Widows Financial Independence”.

International Widows’ Day History: The day was established by The Loomba Foundation to raise awareness about the issue of widowhood. June 23 was chosen as the day to mark International Widows’ day as it was on this day in 1954 that Shrimati Pushpa Wati Loomba, mother of Lord Loomba, became a widow. The first International Widows Day took place in 2005 and was launched by Lord Loomba and Cherie Blair, the foundation’s president. The day was formally adopted as International Widows’ Day by the United Nations on 21 December 2010, the sixth edition. June 23 has been observed as International Widows’ Day since 2011 by the United Nations.

 

OTHER UPDATES:

 

SPORTS

 

1. Indian women’s wrestling team wins Under-17 Asian Championship: Indian women’s Wrestling team has won five medals to claim Under-17 Asian Championship title with a total of eight gold at Bishkek, Kyrgyzstan. India lifted the title with a total of 235 points from eight golds, one silver and one bronze. Japan had to be content with the runners-up trophy with 143 points and Mongolia finished third with 138 points. Indian women including Ritika won gold in 43 kilogram, Ahilaya Shinde got gold in 49 kilogram, Siksha lifted gold medal in 57 kilogram, Priya received gold in 73 kilogram while Pulkit secured a Silver medal in 65 kilogram. In addition, the competitions in three weight categories of Free Style were also held and Parwinder Singh won Gold in 80 kilogram while Narender secured Silver in 71 kilogram.

 

BANKING AND FINANCE

 

1. Millath Co-operative Bank’s licence suspended by the RBI: Millath Co-operative Bank Ltd., Davangere, Karnataka, had its licence suspended by the Reserve Bank of India (RBI), resulting in a capital shortage. As a result, the bank’s banking operations will come to an end at the end of the day. According to a press release from the RBI, the Registrar of Cooperative Societies in Karnataka has also been asked to issue an order winding up the bank and appoint a liquidator. Key Points:

a)      The bank lacks sufficient capital and earnings potential. As a result, it violates Sections 11(1) and 22(3)(d) of the Banking Regulation Act, 1949, as well as Section 56 of the Act, according to RBI.

b)      If the bank is allowed to continue operating, it will be unable to pay its current depositors in full, and the public interest will be harmed, according to RBI’s official statement.

c)       The Reserve Bank of India has also stated that, upon liquidation, every depositor will be entitled to a deposit insurance claim sum of up to Rs. 5,00,000/- from the Deposit Insurance and Credit Guarantee Corporation (DICGC), subject to the provisions of the DICGC Act, 1961.

d)      According to the bank’s information, all depositors will get the entire amount of their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC). As of May 18, 2022, the DICGC had already paid out 10.38 crore of total insured deposits under the requirements of Section 18A of the DICGC Act, 1961, based on the willingness of the bank’s depositors.

 

2. Dhan Sanchay: A new life insurance product from LIC India: The Life Insurance Corporation of India (LIC) has introduced Dhan Sanchay, a non-linked, non-participating individual savings life insurance plan that offers both protection and savings. This plan provides financial support to the family if the life assured dies prematurely during the policy’s term. According to a LIC press release, it also provides a guaranteed income stream from the date of maturity to the conclusion of the payout period.

Key Points:

a)      The first two alternatives require a minimum Sum Assured of Rs.3,30,000/-, the third option requires a minimum Sum Assured of Rs.2,50,000, and the fourth option requires a minimum Sum Assured of Rs.22,00,000.

b)      There are no limitations on the maximum Premium. The minimum age for entrance varies depending on the Policy term selected.

c)       The death benefit payable on the death of a Life Assured during the policy term after the date of starting of risk but before the stipulated date of maturity is known as the Sum Assured on Death.

d)      According to the Policyholder’s/Life Assured’s option, the Death Benefit will be paid in a lump sum or in instalments over a 5-year term. After the Death Benefit is paid, the policy will expire, and no further payments will be paid.

e)      If the life guaranteed survives the stated date of maturity, a maturity benefit will be given in the form of Guaranteed Income Benefit and Guaranteed Terminal Benefit.

 

BUSINESS AND ECONOMY

 

1. DBS Bank India purchase 9.9% share in Svakarma Finance: DBS Bank India Ltd. announced that it has purchased a 9.9% share in Svakarma Finance, a non-deposit taking, non-banking finance company that provides micro businesses with relevant financial solutions through a combination of direct lending and co-lending. DBS Bank India‘s extended franchise plan envisions considerable development in SME and consumer companies across over 300 sites and 500 branches. It stated it will continue to look for ways to promote microenterprise lending in a cost-effective manner, both via its own enlarged franchise and through partners. Svakarma is expanding its network across the country. It is currently active in Gujarat, Maharashtra, and Tamil Nadu.

 

2. Beneficiaries of the PFRDA pension scheme increased by 24%: According to official figures, the number of subscribers to PFRDA‘s two flagship pension schemes increased by more than 24% year on year to 5.32 crore as of May 31, 2022. According to the Pension Fund Regulatory and Development Authority (PFRDA), the number of subscribers in various NPS plans climbed to 531.73 lakh by the end of May 2022, up from 428.56 lakh in May 2021, a year-on-year rise of 24.07 percent.

Key Points:

a)      By the end of May this fiscal year, the Atal Pension Yojana (APY), the largest contributor to the subscriber base, had grown by 31.6 percent to 3.72 crore.

b)      The number of NPS members among federal government employees increased by 5.28 percent to 22.97 lakh, while the number of subscribers among state government employees increased by 7.70 percent to 56.40 lakh.

c)       According to the data, the number of NPS subscribers in the corporate sector climbed by 26.83 percent to 14.69 lakh, while those in the all citizens category increased by 39.11 percent to 23.61 lakh by the end of May.

d)      The number of subscribers in the NPS Lite category declined by 2.7 percent to 41.85 lakh in April 2015, when no new registrations were allowed.

e)      As of May 31, 2022, the two plans’ total assets under management (AUM) had increased by 21.5 percent to Rs 7.38 lakh crore.

 

AWARDS AND HONOURS

 

1. Prime Minister’s award for outstanding contribution for promotion of Yoga announced: On the occasion of International Yoga Day, the AYUSH ministry has announced to give the ‘Prime Minister’s Award for Outstanding Contribution towards the Development and Promotion of Yoga’ for 2022 to two individuals and two organisations in recognition of their contributions in the space.

Award winners: Two individuals Bhikkhu Sanghasena from Ladakh, Marcus Vinicius Rojo Rodrigues from Brazil and two organisations, “The Divine Life Society” from Uttarakhand and the British Wheel of Yoga from United Kingdom have been chosen for award. They will also receive ₹25 lakh as cash prize, a trophy and a certificate.

a)      Sanghasena is the founder of the Mahabodhi International Meditation Centre in Leh, and a social and spiritual worker. Earlier, the Gandhi Peace Foundation conferred him with the World Peace Award in 2004.

b)      Rojo trained at Kaivalyadhama School in Lonavla, which was founded by Swami Kuvalayananda. Upon his return to Brazil, he acted as the main promoter of yoga in the country, emphasising on the scientific teachings of Swami Kuvalayananda.

c)       Similarly, the British Wheel of Yoga in the United Kingdom was founded by Wilfred Clark in 1965. He practiced yoga during his army service in the First World War. Later, he started teaching yoga and eventually opened up the Wheel. The organisation is now committed to promoting a better understanding of yoga through education and training programs.

 

2. UNESCO recognises India’s use of ICT under PM eVIDYA scheme: The Central Institute of Educational Technology (CIET), a constituent unit of the National Council of Educational Research and Training (NCERT) under the Department of School Education and Literacy (DOSEL), Ministry of Education (MoE), Government of India, has been conferred the UNESCO’s King Hamid Bin Isa Al-Khalifa Prize, for the 2021 edition.

About PM eVIDYA: During Covid-19, with the schools shut down, the government reimagined the schooling models and the ways in which education can be imparted to students without interruptions. Hence, PM e-VIDYA, a unique and comprehensive initiative was launched by the Ministry of Education in May 2020 which aimed at unifying all efforts to enable multi-mode access to education.

One of the major initiatives of PM eVidya is 12 eVidya TV Channels based on the line – ‘One Class-One Channel’ for classes 1 to 12, airing educational content related to the respective classes. 12 eVidya DTH channels are especially useful for the learners of those remote areas where stable internet is not available. These channels telecast curriculum-based educational content developed by NCERT and other agencies such as CBSE, KVS, NIOS, Rotary, etc.

 

3. US-Canadian author Ruth Ozeki wins Women’s Prize for Fiction: US-Canadian author, film-maker and Zen Buddhist priest, Ruth Ozeki has won the Women’s Prize for Fiction this year for her novel ‘The Book of Form and Emptiness”. Ozeki’s fourth novel, ‘The Book of Form and Emptiness’ tells the story of a thirteen-year-old boy who, after the tragic death of his father, starts to hear the voices of objects speaking to him. She was announced as the winner of the £30,000 prize at a ceremony in London, beating nominees including Elif Shafak, Meg Mason and Louise Erdrich.