Daily GK Update- 12th Aug, 2022

NATIONAL UPDATES:

 

1. UP Govt appoints Deloitte India as consultant to achieve the target of $1 trn economy: The Uttar Pradesh government led by Chief Minister Yogi Adityanath, has appointed Deloitte India as a consultant for achieving the target of bringing the state’s economy to USD1 trillion mark. For this, a memorandum of understanding (MoU) was signed between the state government and the consultancy agency on August 05, 2022. As per the MoU, Deloitte India should present a future action plan within the next 90 days, with a thorough deliberation after conducting a sector-wise study.

 

2. Nitish Kumar Takes Oath as Bihar CM for 8th Time in 22 Years: JD(U) leader Nitish Kumar took oath as the Chief Minister of Bihar on August 10, 2022. This is for the 8th time that Kumar took oath as Bihar CM since he was first sworn-in as the CM of the state in 2000. Apart from him, Rashtriya Janata Dal (RJD) leader Tejashwi Yadav took oath as the Deputy Chief Minister of the state.   This move comes a day after Nitish Kumar resigned from the post of the CM of the NDA alliance government and broke ties from BJP. Later he staked claim to form a new government with the RJD, the Congress and other parties.

 

3. Microsoft, Govt intend to train computer skills to civil servants: Microsoft and the Indian government will work together on a programme to teach its digital toolkit to almost 2.5 million civil servants. The Ministry of Skill Development & Entrepreneurship (MSDE), the Capacity Building Commission (CBC), and the tech giant are working together to support civil servants in their efforts to assist the less fortunate with the help of Microsoft.

Microsoft, Government programme: Highlights:

a)      Microsoft will assist civil servants in providing last-mile social welfare services.

b)      For the ministries of Defense, Skill Development and Entrepreneurship, Expenditure, Finance, Social Justice, Civil Aviation, Ports and Shipping, and Labour, the CBC performs capacity building with Microsoft.

c)       The absence of digital productivity application abilities required while dealing with Microsoft Office programmes like Microsoft Word, Microsoft Excel, and Microsoft PowerPoint presentations represented a significant competency gap among civil servants.

d)      The company will provide an online learning course on Microsoft Office 365’s digital productivity suite options for MSDE as part of the collaboration.

e)      With the help of this programme, the aim is to strengthen the concept of Digital India and equip central government employees with essential digital skills.

Note: Microsoft Founders: Bill Gates and Paul Allen; Microsoft CEO: Satya Nadella; Group leader & director of government affairs at Microsoft India: Ashutosh Chadha

 

4. Rishabh Pant appointed as the State Brand Ambassador of Uttarakhand: Uttarakhand government has appointed wicketkeeper-batter Rishabh Pant as the ‘State Brand Ambassador’. Chief Minister of Uttarakhand Pushkar Singh Dhami congratulated Rishabh Pant and praised him as one of the best cricketers and idols of youth. Rishabh Pant’s most recent game was seen in India’s T20 series against New Zealand in which the Indian cricket team claimed the title of the series with a 3-0 victory.

 

5. “UMEED Market Place” launched by Manoj Sinha as part of AVSAR Program: UMEED Market Place as part of the AVSAR Scheme of the Airport Authority of India launched by Lieutenant Governor Manoj Sinha at the Srinagar International Airport in Jammu and Kashmir. The Jammu Airport now has a marketplace that is comparable, and both locations will feature goods from all 20 districts, which is UMEED Market Place. The Lt. Governor previously unveiled a 20X20-foot LED video wall at the airport in Srinagar. Umeed Market Place: Highlights:

a)      Governor Manoj Sinha stated that UMEED Market Place project will empower local artists and craftspeople of J&K Rural Livelihood Mission Self Help Groups by giving them a platform to sell their goods directly to consumers.

b)      That the goods produced by self-help groups would be exposed to the national market, help the local artisan community, and offer enough opportunities for product marketing in the UMEED Market Place.

c)       The SHG members’ items will be promoted to a wider audience through the marketplaces at both airports, reaching a bigger population and making rural handicraft products accessible to travellers at affordable costs.

 

6. SPARK: New Virtual Space Museum Launched by ISRO: The Indian Space Research Organization (ISRO) has launched a digital platform called the ‘SPARK’ space museum for showcasing several ISRO missions with an interactive interface. The digital platform known as the ‘SPARK’ space museum was launched by the Chairman of ISRO, S Somnath. This idea by ISRO is a new initiative while celebrating the Azadi ka Amrit Mahotsav marking 75 years of Independence. Key Points:

a)      This digital space museum ‘SPARK’ has an interactive interface through which users can interact with the site easily.

b)      The platform hosts several documents, images, and videos related to ISRO’s launch of vehicles, satellites, and scientific missions.

c)       The secretary of the Department of Spaces S Somnath and major Directors of various ISRO centers appreciate this initiative.

d)      People can also access a beta version of this application through the official website of ISRO.

 

INTERNATIONAL UPDATES:

 

1. Singapore gives National Monument Status to Padang, where Netaji’s famous Call ‘Chalo Dilli’ was immortalised: Singapore government has declared the iconic green site Padang, as its 75th national monument on the day which marked the 57th National Day of Singapore. Padang is the large open field site in Singapore, from where Netaji Subhas Chandra Bose gave the slogan of ‘Delhi Chalo’ in July 1943. Padang has a strong national, historical and social significance, and is one of the oldest open spaces continuously used since the 1800s. With the Monument Status, Padang will now be preserved and accorded the highest level of protection in Singapore under the Preservation of Monuments Act, said the National Heritage Board (NHB).

 

2. World Elephant Day: 12th August: World Elephant Day is celebrated on 12 August every year to raise awareness about the plight of elephants all over the world. The day tries to highlight why these animals should be protected and what laws and measures can be enacted to ensure their survival. The main objective of World Elephant Day is to create awareness on elephant conservation and to share knowledge and positive solutions for the better protection and management of wild and captive elephants.

World Elephant Day History: On 12 August 2012, World Elephant Day was co-founded by Canadian filmmaker Patricia Sims and the Elephant Reintroduction Foundation of Thailand, an initiative of HM Queen Sirikit. This day was observed for the first time on 12 August 2012. And since then, World Elephant Day has been celebrated every year.

 

3. International Youth Day: 12th August: International Youth Day is celebrated on 12 August every year. This day is celebrated to raise awareness regarding issues that are faced by the world’s youth. The objective of International Youth Day 2022 is to amplify the message that action is needed across all generations to achieve the Sustainable Development Goals (SDGs) and leave no one behind. The theme for 2022’s edition of International Youth Day is “Intergenerational solidarity: creating a world for all ages.” Cooperation and harmony between the youth and older generations is necessary to achieve sustainable development goals, as per Agenda 2030 of the United Nations (UN).

International Youth Day History: Young people, who attended the first session of the UN’s World Youth Forum in Vienna, Austria, in 1991, suggested that an International Youth Day be declared to help raise money for the United Nations Youth Fund. At the first session of the World Conference of Ministers Responsible for Youth, held in Lisbon in August 1998, August 12 was declared International Youth Day. The United Nations General Assembly (UNGA) endorsed this proclamation in 1999.

 

OTHER UPDATES:

 

SPORTS

 

1. Sunil Chhetri, Manisha Kalyan named men’s and women’s Footballer of the Year: Sunil Chhetri and Manisha Kalyan have been named the 2021-22 All India Football Federation (AIFF) Men’s Footballer of the Year and the 2021-22 and Women’s Footballer of the Year, respectively. Key Points:

a)      This was Sunil Chhetri’s record seventh AIFF Men’s Footballer of the Year award, having won it previously in 2007, 2011, 2013, 2014, 2017 and 2018–19. No other player has won it more times than the 38-year-old veteran. Sunil Chhetri is currently third after Cristiano Ronaldo and Lionel Messi in the list of highest goal scorers in international football among active players and sixth on the all-time leaderboard.

b)      Manisha Kalyan, who won the 2021-22 AIFF Women’s Footballer of the Year, was the recipient of the Women’s Emerging Footballer of the Year from last season.

AIFF Player of the Year Award winners for 2021-22:

AIFF Men’s Footballer of the Year 2021-22: Sunil Chhetri

AIFF Women’s Footballer of the Year 2021-22: Manisha Kalyan

AIFF Men’s Emerging Footballer of the Year 2021-22: Vikram Partap Singh

AIFF Women’s Emerging Footballer of the Year 2021-22: Martina Thokchom

Note: The All India Football Federation Founded: 23 June 1937; The All India Football Federation Headquarters: Dwarka, Delhi; The All India Football Federation FIFA affiliation: 1948; The All India Football Federation AFC affiliation: 1954; The All India Football Federation SAFF affiliation: 1997.

 

2. Real Madrid beat Eintracht Frankfurt 2-0 to win 2022 UEFA Super Cup: Real Madrid beat Eintracht Frankfurt, 2-0 in the finals to win the 2022 UEFA Super Cup for a record-equalling fifth time, in Helsinki, Finland. UEFA Super Cup is an annual football match organised by UEFA for the winners of the two main European club competitions, i.e. the UEFA Champions League and UEFA Europa League. The last season’s Champions League winners Real Madrid defeated Europa League winners Eintracht Frankfurt to win the title for fifth time. David Alaba and Karim Benzema scored in each half as Real Madrid beat Eintracht Frankfurt. The man of the match goes to Casemiro.

 

BANKING AND FINANCE

 

1. SEBI constitutes 15-member Advisory Committee to attract foreign investment: The Securities and Exchange Board of India (SEBI) has constituted a 15-member expert group of Foreign Portfolio Investors (FPIs) to boost overseas flows into the country. The FPI Advisory Committee (FAC) will be chaired by former Chief Economic Adviser KV Subramanian. Other members of the committee will be from foreign banks, stock exchanges depositories and the RBI. Task of the FAC:

a)      Advising on issues related to investments and operations of FPIs in the financial markets, including measures to facilitate ease of doing business by FPIs in India.

b)      Review investment avenues available for FPIs and advise on the feasibility of new investment avenues.

c)       Suggest measures required to encourage FPI participation in the bond market.

 

2. RBI cancelled the license of Rupee Co-operative Bank, Pune: The Reserve Bank of India has cancelled the licence of Pune-based Rupee Co-operative Bank Ltd as the lender does not have adequate capital and earning prospects. However, the RBI said that in compliance to an order of the High Court of Bombay, its direction will become effective after six weeks. Consequent to the cancellation of its licence, ‘Rupee Co-operative Bank Ltd, Pune’ stands prohibited from conducting the business of banking which includes, among other things, acceptance of deposits and repayment of deposits with effect from September 22, 2022.

The licence has been cancelled because the bank does not have adequate capital and earning prospects and as such, it does not comply with certain provisions of the Banking Regulation Act, 1949. As per the data submitted by the cooperative bank, more than 99 per cent of the depositors are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC). On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from DICGC. As of May 18, 2022, DICGC has already paid Rs 700.44 crore of the total insured deposits.

 

BUSINESS AND ECONOMY

 

1. India’s GDP Growth to be fastest in Asia in FY23: Morgan Stanley: According to analysts at Morgan Stanley, India’s GDP growth will average 7% during this time, which is the strongest among the largest economies, and India will contribute 28% and 22% to both Asian and global growth, respectively. This makes India the fastest-growing Asian economy in the Asian region in 2022–2023. They claimed that due to the release of dormant demand, the Indian economy is poised for its strongest performance in more than a decade. India’s GDP growth: Key Points:

a)      According to Chetan Ahya, chief Asia economist at Morgan Stanley, the most significant change in India’s structural narrative is the obvious shift in policy emphasis in favour of increasing the economy’s productive potential and India’s GDP growth.

b)      He claimed that policymakers have adopted a number of changes that will spur an uptick in the private capex cycle, aid to unleash a potent productivity dynamic, and usher in the start of a virtuous cycle.

c)       This confidence in India’s GDP growth has been greatly aided by a decline in commodity prices, particularly those of crude oil.

d)      With oil and commodities prices down between 23 and 37% since their peak in March 2022, Morgan Stanley predicts that macro stability indicators will return to a comfortable level and that the Reserve Bank of India (RBI) may not need to raise rates substantially in the near future.

 

2. Amit Burman Steps Down as the Chairman of Dabur: FMCG major Dabur has announced that the board has accepted the resignation of Amit Burman as the Chairman. Amit Burman will continue to serve in the position of non-executive director of the company. Key Points

a)      Amit Burman was announced as the CEO of Dabur in 1999 when the company forayed into the processed food business. In July 2007, he stepped down from his position when the company was merged into Dabur India Ltd and was appointed as the vice chairman. In 2019, Amit took the charge as the chairman of Dabur Indian Ltd.

b)      The new non-executive vice chairman of the board of directors is Saket Burman from 11th August 2022, for the next five years. The board also announced that Mohit Burman will be the non-executive chairman of the board for the next five years, who is currently serving as the non-executive vice chairman.

 

AWARDS AND HONOURS

 

1. Senior Congress leader Shashi Tharoor to receive France’s highest civilian award: Senior Congress leader Shashi Tharoor, set to be conferred with France’s highest civilian award Chevalier de la Legion d’Honneur. The French government is honouring him for his writings and speeches and the French Ambassador here Emmanuel Lenain has written to Tharoor informing him about the award. In 2010, Tharoor had received a similar honour from the Spanish government, when the King of Spain had bestowed upon him the Encomienda de la Real Order Espanola de Carlos III.

 

OBITUARIES

 

1. AIADMK’s first MP Maya Thevar passes away: Former Member of Parliament (MP) and senior All India Anna Dravida Munnetra Kazhagam (AIADMK) politician K. Maya Thevar has passed away due to an age-related illness. He was 87. The was the first MP of the AIADMK. He led the party to enter the world of politics by registering the party’s first victory by contesting a by-election to the Dindigul Lok Sabha constituency in 1973. Also, it was Mr. Maya Thevar who chose the iconic ‘two-leaves’ symbol of the AIADMK party. Later, he left AIADMK and joined the DMK.