Daily GK Update- 25th July, 2022

 

NATIONAL UPDATES:

 

1. PM Narendra Modi unveils India’s first Passenger Drone “Varuna”: Prime Minister Narendra Modi has unveiled Varuna, India’s first passenger drone. PM Modi is seen watching the demonstration of the drone. Prime Minister Narendra Modi asserted that the current government has ensured last-mile delivery of services with the help of technology, including drones. The Prime Minister was there to address the Naval Innovation and Indigenisation Organisation (NIIO) seminar ‘Swavlamban’ which took place at Dr Ambedkar International Centre in New Delhi.

‘Varuna’ drone: The makers of this indigenous pilot-less ‘Varuna’ drone startup Sagar Defence Engineering demonstrated this in his presence. This ‘Varuna’ drone has been designed and developed by a startup and has the capacity to carry one person inside. Varuna, India’s first drone that can carry a human payload, has a range of 25 km. The drone can carry a 130 kg payload and has 25-33 minutes of flight time.

 

2. HP becomes the 1st Indian state to connect all registered commercial vehicles: Himachal Pradesh has become the first state in the country to connect all registered commercial vehicles equipped with Vehicle Location Tracking Device (VLTD) with Emergency Response Support System (ERSS). Now, these vehicles can be tracked anywhere in the country through VLTD. More than 9,423 vehicles have been registered and linked with ERSS. Now it will be monitored by both the police and the transport department. Chief Minister Jai Ram Thakur formally inaugurated the system at a program organized at Peterhof, in Shimla. He also introduced the facility of panic buttons for the safety of women and children in public vehicles.

Vehicle Location Tracking Device: The Vehicle Location Tracking Device with Emergency Panic Button System and Command Control Center has been connected with Emergency Response Support System 112. When the panic button is pressed, a signal would be received through satellite to 112 and the person in distress would be connected and alert the police.

Note: Himachal Pradesh Capital: Shimla (Summer), Dharamshala (Winter); Himachal Pradesh Chief Minister: Jai Ram Thakur; Himachal Pradesh Governor: Rajendra Vishwanath Arlekar.

 

3. NITI Aayog: India’s R&D expenditures one of the lowest worldwide: According to a report by the government think tank NITI Aayog and the Institute for Competitiveness, India has among of the lowest R&D expenditures worldwide. In fact, R&D spending in India has decreased, falling from 0.8 percent of GDP in 2008-09 to 0.7 percent in 2017-18. According to data, India has a lower GERD than the other BRICS countries. Spending amounts for Brazil, Russia, China, and South Africa are respectively 1.2 percent, 1.1 percent, over 2 percent, and 0.8 percent. Around 1.8 percent is the global average. Key Points:

a)      According to the India Innovation Index 2021, India has generally spent a small amount of money on research and development. The overall share of gross expenditure on R&D (GERD) as a percentage of GDP, which was roughly 0.7 percent, reflected this.

b)      The United States, Sweden, and Switzerland are developed nations that spend roughly 2.9 percent, 3.2 percent, and 3.4 percent, respectively.

c)       The biggest R&D expenditure per GDP is made by Israel, which is 4.5 percent.

d)      The fact that expenditures in R&D take time to yield benefits is one of the explanations given for the low spending on R&D in emerging nations like India.

e)      Authorities focus resources on addressing these concerns since they are more prevalent in nations like India, where they include reducing hunger, combating sickness, and improving quality of life.

 

4. International Conference on Chemistry and Applications of Soft Materials: The CSIR-National Institute for Interdisciplinary Science and Technology (CSIR-NIIST), Thiruvananthapuram, will host an International Conference on Chemistry and Applications of Soft Materials (CASM 2022) as part of the Azadi Ka Amrit Mahotsav celebrations to mark 75th year of Independence. Discussions on a variety of subjects, including self-assembly and supramolecular materials, soft material chemistry, physics, rheology, and photophysics, responsive and smart materials, gels, liquid crystals, polymers, macromolecules and framework materials, and functional nanomaterials, as well as soft material applications in electronics and energy, will take place at the conference. Key Points:

a)      The conference is anticipated to draw at least 300 delegates from both within and outside of the nation, the official added.

b)      The conference, according to Ajayaghosh, Director of CSIR-NIIST and Conference Chair, will give researchers and students the ideal setting to share ideas and create new partnerships in the field of soft materials.

c)       The Department of Science and Technology (DST) will sponsor a session on soft materials for energy applications, and presentations showcasing the technology development initiatives at CSIR-NIIST will also be presented, according to Narayanan Unni, Scientist at CSIR-NIIST and Convener of the Conference.

 

INTERNATIONAL UPDATES:

 

1. Dinesh Gunawardena sworn in as the 15th Prime Minister of Sri Lanka: Senior politician, Dinesh Gunawardena has been appointed as the new and 15th Prime Minister of Sri Lanka, by President Ranil Wickremesinghe. He succeeds former Prime Minister Ranil Wickremesinghe, who has been sworn in as the country’s 9th president. Gunawardena, parliamentarian of the Sri Lanka Podujana Peramuna (SLPP) party, took his oath in the capital Colombo in the presence of other senior legislators. Gunawardena had been appointed Home Minister in April by then President Gotabaya Rajapaksa. With Gotabaya fleeing the country and resigning from his position, earlier Prime Minister Ranil Wickremesinghe was sworn in as the eighth President of Sri Lanka on July 21.

 

2. WHO Report: India was top remittance recipient in 2021 receiving $87 billion: India was the top recipient country for remittances inflows in 2021, in current US dollars, among the low and middle-income countries, according to a report released by World Health Organisation. India received remittances worth US$ 87 billion in 2021, as per the “first World report on the health of refugees and migrants”. Key points of the report:

a)      China ($53 billion), Mexico ($53 billion), the Philippines ($36 billion) and Egypt ($33 billion) were the top five nations in the list.

b)      The United States was the largest source country for remittances in 2020, followed by the United Arab Emirates, Saudi Arabia and Switzerland. Remittances increase or maintain consumer spending and soften the blow of economic hardship, such as during the COVID-19 pandemic.

Note: WHO Director-General: Dr. Tedros Adhanom Ghebreyesus; WHO Headquarters: Geneva, Switzerland; WHO Founded: 7 April 1948.

 

3. Ennarasu Karunesan chosen by IAPH to serve as its representative in India: Ennarasu Karunesan has been named as the International Association of Ports and Harbors’ (IAPH) official representative in India. IAPH is the world’s port industry’s forum for cooperation and excellence. Karunesan has over 33 years of leadership experience in the marine and port industries. He began his career in the port industry with the Mumbai port and later worked as the general manager of operations and CEO of the Westport Container Terminal in Port Klang, Malaysia, from 2001 to 2004. Key Points:

a)      According to an IAPH press release, Ennarasu Karunesan relocated to India to serve as Director and CEO of Chennai Container Terminal Ltd., Dubai Ports World, and CEO of the Adani Ports & Special Economic Zone, Gujarat, India.

b)      The IAPH can effectively represent their interests on a global scale, they feel, and Indian ports, terminal operators, and EXIM trading partners have a significant contribution to make to the global ports community in the areas of energy transition, data sharing, and resilience.

Note: Managing director of the IAPH: Patrick Verhoeven

 

4. World Drowning Prevention Day: 25th July: World Drowning Prevention Day is observed every year on July 25 and was established by the UN General Assembly Resolution “Global drowning prevention” from April 2021. This international advocacy event provides a platform to draw attention to the devastating and deep effects drowning has on families and communities while also outlining life-saving strategies to stop it.

 

OTHER UPDATES:

 

SPORTS

 

1. First Khelo India Fencing Women’s League to begin on July 25, 2022: The first Khelo India Fencing Women’s League, which will begin on 25 July, 2022, will be hosted by Talkatora Indoor Stadium in New Delhi. The first-of-its-kind national fencing competition for women will take place through the 29th of this month, according to the Ministry of Youth Affairs and Sports. It will take place in three stages.

The Sports Authority of India has sanctioned a total of Rs. 1 crore 54 lakh for the league’s operations. Over 17 lakh rupees have been set aside as prize money for each phase. Twenty-one States and more than 300 women have enrolled to take part in the tournament. Bhavani Devi, an athlete from the Tokyo Olympics and the Target Olympic Podium Scheme, will compete in the league’s Senior category Sabre event. She is playing on behalf of the Tamil Nadu State.

 

BANKING AND FINANCE

 

1. RBI approves Open, Cashfree Payments, PayNearby and Fairexpay for Cross-Border Payments: The Reserve Bank of India gave the go-ahead to Open, Cashfree Payments, PayNearby & Fairexpay, providers of payments and API banking solutions, for its cross-border payments offering. Cross-border payments are the focus of the Reserve Bank of India’s (RBI) announcement about the Second Cohort’s release from the Regulatory Sandbox. The reserve bank chose four of the eight entities that were a part of the Test Phase. These companies include the unicorn of neobanking, Open, as well as Cashfree Payments, PayNearby, and Fairexpay. These entities have all successfully passed the second cohort’s Test Phase.

Key Points:

a)      These organisations can now provide their cross-border payment solutions to regulated businesses including banks and NBFCs, according to the RBI.

b)      The RBI’s liberalised remittance policy will cover cross-border investments. According to RBI, regulated entities may consider using the product if it complies with all relevant regulatory criteria.

c)       In order to enable investors to effectively purchase foreign stocks, the company will convert the transferred amount into foreign currency, such as US dollars, and transmit it to the overseas broker.

d)      The product has been determined to be viable within the boundary parameters established during testing under the regulatory sandbox, according to the announcement of the exit of the second cohort.

e)      With its product payouts, Cashfree Payments currently dominates the industry for bulk disbursals in India with over 50% of the market share among payment processors. SBI made a recent investment in Cashfree Payments.

f)        Cashfree business has integrations with significant platforms including Shopify, Wix, Paypal, Amazon Pay, Paytm, and Google Pay. In addition to India, eight other nations, including the USA, Canada, and the UAE, use Cashfree Payments solutions.

 

BUSINESS AND ECONOMY

 

1. India’s bioeconomy likely to reach $300 billion by 2030: By 2025 and 2030, India’s bioeconomy is predicted to reach $150 billion and $300 billion, respectively. The Biotechnology Industry Research Assistance Council (BIRAC) released the India BioEconomy Report 2022 based on information about the economic contribution of the biotech sector. According to the analysis, the nation’s bioeconomy reached over USD 80 billion in 2021, representing an increase of 14.1% over USD 70.2 billion in 2020. It claimed that India would add USD 80.12 billion in bioeconomy in 2021, producing USD 219 million daily. Key Points of the Report:

a)      In 2021, the industry spent more over USD 1 billion on R&D, with at least three biotech businesses being established on average each day (for a total of 1,128 biotech startups). The statement said, “A tripling within a year from USD 320 million to USD 1.02 billion.”

b)      According to the report, India provided 1.45 billion doses of Covid-19 vaccine in 2021, or about 4 million doses every day. The country also performed 1.3 million Covid-19 tests daily (total of 506.7 million tests).

c)       In 2021, the 3.3 billion litres of ethanol that could previously be produced will be doubled to 6.5 billion litres. The paper stated that with continued growth, India would reduce its import expenses, thus affecting the currency reserves and the import-export imbalance in the direction of achieving the USD 10 trillion overall economy target by 2030.

 

2. Tata Projects appoints Vinayak Pai as managing director: Vinayak Pai has been named as the managing director of TATA Projects, the company announced. Vinayak Deshpande, who had been in charge of operations for more than 11 years, had been replaced by Pai. Pai has worked with top engineering and EPC firms for more than three decades, holding significant positions on teams that worked on engineering design, technology licencing, project management, business development, and operations.

 

AWARDS AND HONOURS

 

1. Filmmaker KP Kumaran honoured with JC Daniel Award 2022: Malayalam filmmaker, KP Kumaran has been honoured with Kerala’s highest film award, the JC Daniel Award. Kumaran won the award for his contribution to the Malayalam film industry. The award comprises of a cash prize of Rs 5 lakh, a citation, and a plaque. The 2021 jury included singer P Jayachandran, director Sibi Malayil, film academy chairman Ranjith, and Rani George, the principal secretary of the Department of Cultural Affairs. 

About the JC Daniel Award: JC Daniel Award is Kerala’s highest award in Malayalam cinema. It is presented annually by the Kerala State Chalachitra Academy, a nonprofit institution under the Department of Cultural Affairs. Instituted in 1992, the award is given to honour the recipients for their outstanding contribution to Malayalam cinema. The award was created to commemorate the contribution of Indian filmmaker JC Daniel, who is often regarded as the father of Malayalam cinema. Since its inception, the award has been bestowed on 27 individuals. Film distributor and producer TE Vasudevan was its first recipient. Singer P Jayachandran was the latest recipient – 2020.