NATIONAL UPDATES:
1. India’s First Forest University
to be established in Telangana: India is going to have its first Forest
University. The Forestry Universities (UoF) Act 2022 was approved by the
Telangana Assembly. The University of Forestry (UoF) will be the first of its
kind in India. Globally, it will be the third University of Forestry after
Russia and China. The Telangana government has decided to expand the Forestry
College and Research Institute (FCRI) in Hyderabad. The FCRI will be turned
into a full-fledged University. Aims:
a)
When
FCRI gets upgraded into a university, additional 18 programs including Ph.D.,
Diploma, and certificate courses in Urban Forestry, nursery management,
agro-forestry, tribal livelihood enhancement, forest entrepreneurship,
climate-smart forestry, and forest park management are planned to be launched
b)
The
objectives of the University will be to produce quality forestry professionals
for conservation and sustainable management of forest resources and to promote
research and develop appropriate methods for propagation of plantation crops to
meet the demand of industries.
c)
The
University will also work to develop agro-forestry models suitable for various
agroecological conditions in addition to traditional forestry operations to
reduce pressure on natural forests, and economic upliftment of farming
communities.
2. Jharkhand becomes the 3rd state
to have Food Security Atlas: Jharkhand has become the third state after Bihar and
Odisha in eastern India to have Food Security Atlas for its rural areas. Odisha
and Bihar had their Atlas launched in 2018. Food Security Atlas of Rural
Jharkhand 2022’ launched in Ranchi. Key Points of the Atlas:
a)
This
Atlas is an effort toward mapping the food security situation in the state. It
has been prepared by the Delhi-based Institute for Human Development (IHD) as
part of the research initiative of the Indira Gandhi Institute of Development
Research, Mumbai.`
b)
This
document will play an important role in informing policy. Given the poor
monsoon this year there is a drought-like situation in many districts of the
state. Hence, the availability of food is an issue due to the low extent of
irrigation and ensuring food security is an even bigger issue wherein 75 per
cent of the people need attention whose hunger needs to be eradicated.
Note: Jharkhand Capital: Ranchi; Jharkhand
Chief Minister: Hemant Soren; Jharkhand Governor: Ramesh Bais.
3. Sikkim government hikes minimum
wage by 67%:
The Sikkim government hiked the minimum wage for unskilled workers by 67
percent to Rs 500. The daily wage for unskilled laborers was Rs 300 which is
now increased to Rs 500 with retrospective effect from 11th July 2022. The
daily wage for semi-skilled workers was increased from Rs 320 to Rs 520. The
skilled laborers or workers will now get Rs 535, which was earlier Rs 335.
Highly skilled labor will be paid Rs 565 per day, instead of Rs 365 per day. Key
Points:
a)
These
updated wages will be applicable for laborers who are working at altitudes up
to 8,000 feet.
b)
50
percent more wages will be given to those working at altitudes from 8,001 feet
to 12,000 feet.
c)
The
laborers working in the altitudes of 12,001 feet to 16,000 feet will be paid 75
percent more than the normal wage.
d)
The
laborers working at places above 16,001 feet will get double the normal wage.
4. Health Minister Dr Mansukh
Mandaviya launched Raktdaan Amrit Mahotsav: Union Health Minister Mansukh
Mandaviya launched a 15-day blood donation drive from 17 September, on Prime
Minister Narendra Modi’s birthday. The blood donation drive is known as
‘Raktdaan Amrit Mahotsav’ will continue till 1st October 2022 which is National
Voluntary Blood Donation Day. Health Minister Mansukh Mandaviya urges people to
take part in the blood donation drive and donate blood to save lives. The
citizens can register themselves on Aarogya Setu App or e-Raktkosh portal to
donate blood as part of the ‘Raktdaan Amrit Mahotsav’. Key Points:
a)
In
India, 5,857 camps have been approved, 55,8959 donors have registered and 4000
people have donated blood so far.
b)
The
drive aims to collect one lakh units of blood in a day and raise awareness
about the need for regular non-remunerated voluntary blood donation.
c)
One
unit donated translates to 350ml of Blood.
d)
The
drive will create a repository of voluntary blood donors so that those in need
can get help on time and minimize the need for replacement blood donation.
e)
Every
blood bank in India is encouraged to organize at least one blood donation camp
as part of the 15-day blood donation drive.
5. Andhra Pradesh, Odisha Attract
Maximum Industrial Investment In 2022: Andhra Pradesh has ranked one on the list
of states in attracting industrial investments in the first seven months of
2022. According to the Department for Promotion of Industry and Internal Trade
(DPIIT), Andhra Pradesh has generated an investment of Rs 40,361 crore. Andhra
Pradesh stood at 45 percent of the total investment that the entire country got
from January to July 2022. India got a total investment of Rs 1,71,285 crore by
the end of July as per the DPIIT data.
Andhra Pradesh rolled out its new
‘industrial Development Policy 2022-2023’ which focuses on a sustainable
development model of growth, Infrastructure development, and asset creation.
The Industrial Development Policy 2020-2023 aims to improve the ease of doing
business and incentivize high-value additional industrial investments. In July
2022, Karnataka generated an investment of Rs 3712 crore, Gujarat generated an
investment of Rs 2969 crore, and Odisha generated an investment of Rs 1493
crore.
6. Senior IAS BVR Subrahmanyam
appointed as next CMD, ITPO: BVR Subrahmanyam (lAS) has been appointed
as the new Chairman & Managing Director of the India Trade Promotion
Organization (ITPO). He will be replacing LC Goyal. The Appointments Committee
of the Cabinet approved the appointment of Subrahmanyam on September 15. A 1987
batch Indian Administrative Services officer of Chhattisgarh cadre, he is
currently working as the Secretary, Department of Commerce, Ministry of
Commerce and Industry. Senior IAS Subrahmanyam has been appointed to the post
on a contractual basis for two years.
Note: India Trade Promotion Organization
Headquarters: New Delhi; India Trade Promotion Organization Founded: 1 April
1977.
INTERNATIONAL UPDATES:
1. 25-year-old climate activist
Vanessa Nakate appointed as UNICEF Goodwill Ambassador: United Nations
International Children’s Emergency Fund (UNICEF) appointed Vanessa Nakate, a 25
year old climate activist from Uganda as the Goodwill Ambassador of the UN
Children’s Fund (UNICEF). Nakate began her activism in January 2019 with a
protest with her siblings and cousins on the streets of Kampala, inspired by
Greta Thunberg. She continued to protest every week, becoming a well-known face
in a movement of young people “striking” for the climate around the world. In
2020 she came to further global prominence when she was cropped out of a news
photo she appeared in alongside Thunberg and other white climate activists.
Nakate’s response to the incident, in which she said the news outlet “didn’t
just erase a photo, you erased a continent”, made international headlines.
Note: UNICEF Founded: 1946; UNICEF
Headquarters: New York City, USA; UNICEF Director General: Catherine M.
Russell; UNICEF Membership: 192.
2. Joao Lourenco Re-elected as
President of Angola:
The National Electoral Commission announced Joao Lourenco as the President with
51% of the votes. President Joao Lourenco is a member of the Popular Movement
for the Liberation of Angola (MPLA), and he was re-elected as the President of
Angola. The election results extended the hegemony of the MPLA, which is the
only party that has governed Angola since its Independence from Portugal in
1975.
The MLA obtained over 3.16 million votes,
which would allow it to have 124 out of 200 seats in the National Assembly. The
opposition party, Adalberto Costa Junior’s National Union for the Total
Independence of Angola (UNITA) received 44 percent of the votes, which is about
90 seats in the National Assembly. In the general elections, 14.3 million
citizens out of 33 million people were called to vote.
OTHER UPDATES:
SPORTS
1. India beats Nepal with 4-0 in the
SAFF U-17 Championship Title finals: In the SAFF U-17 Championship Title, India
beats Nepal with 4-0 in the finals. The SAFF U-17 Championship final was held
in Racecourse International Stadium, Colombo, Sri Lanka. In the group league,
India defeated Nepal 3-1, however, in the finals, India took the opportunity
and defeated Nepal with a leading charge. Indian women’s football team was,
however, defeated by Bangladesh in the third match of the SAFF Women’s
Championship.
2. Sikandar Raza and Tahlia McGrath
named as ICC Player of the month award for August 2022: Zimbabwe’s
all-rounder Sikandar Raza and Australian all-rounder Tahlia McGrath have been
declared the winners of the ICC Player of the month award for August 2022 in
their respective categories. Raza has become the first Zimbabwe International
to receive the honours and has been key for Zimbabwe during the month.
Meanwhile, McGrath has also been a pivotal cog in the Australian team’s journey
during August.
Sikandar Raza: Raza has had a
tremendous time at the 22-yards. He scored centuries against Bangladesh and
India in the home ODI series and has also scalped a few wickets. His two tons
against Bangladesh in a three-match series helped Zimbabwe defeat the Bangla
Tigers by 2-1. Raza also notched up a ton against India in three ODIs. He has also
picked seven wickets.
Tahlia McGrath: Meanwhile, Tahlia
McGrath has also had a memorable month as she helped her team to win the Gold
medal in the Birmingham Commonwealth Games. McGrath has scored 128 runs in her
team’s journey towards the yellow metal and has eight five batters packing
during the tournament.
Note: ICC Founded: 15 June 1909; ICC
Chairman: Greg Barclay; ICC CEO: Geoff Allardice; ICC Headquarters: Dubai,
United Arab Emirates.
BANKING AND FINANCE
1. SBI Raises Benchmark Lending Rate
By 0.7%:
The country’s largest lender, State Bank of India (SBI), raised the Benchmark
Prime Lending Rate (BPLR) by 70 basis points (or 0.7 per cent) to 13.45 per
cent. The announcement would make loan repayment linked to BPLR costlier. The
current BPLR rate is 12.75 per cent. It was revised last in June. The bank has
also raised the base rate by similar basis points to 8.7 per cent.
2. Federal Bank ranked 63rd in Best
Workplaces in Asia 2022: Federal Bank was ranked 63rd on the Best Workplaces in
Asia 2022 and becomes the only bank in India to be listed by Great Place to
Work, the global authority on workplace culture. The list is based on over one
million survey responses across Asia and West Asia, representing the experience
of over 4.7 million employees in the region. This recognition is based on
confidential survey data assessing employee experiences of trust, innovation,
company values and leadership. Companies are also evaluated on how well they
are creating all workplace experiences, inclusive of all employees no matter
who they are or what they do.
About the Federal Bank Limited: Federal Bank
Limited is an Indian private sector bank headquartered in Aluva, Kochi. The
bank has 1,272 branches spread across different states in India. It also has
representative offices abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.
With a customer base of over 10 million,
including 1.5 million NRI customers and a large network of remittance partners
around the world, Federal Bank handled more than 15% of India’s total inward
remittances of $79 billion in 2018. The bank has remittance arrangements with
more than 110 Banks/Exchange Companies around the world. The bank is also
listed in the BSE, NSE and London Stock Exchange and has a branch in India’s
first International Financial Services Centre (IFSC) at GIFT City.
Note: Federal Bank Limited Headquarters:
Aluva, Kerala; Federal Bank Limited CEO: Shyam Srinivasan; Federal Bank Limited
Founder: K.P Hormis; Federal Bank Limited Founded: 23 April 1931, Nedumpuram.
BUSINESS AND ECONOMY
1. Fitch Cuts India’s Economic
Growth Forecast for FY23 to 7% from Previous Estimate of 7.8%: Fitch Ratings
slashed India’s GDP growth projection for FY23 to 7 per cent, saying the
economy is expected to slow against the backdrop of the global economy,
elevated inflation and high-interest rate. In June, it had forecast 7.8 per
cent growth for India. As per official GDP estimates, the Indian economy
expanded 13.5 per cent in the June quarter, higher than the 4.10 per cent
growth clocked in January-March. The RBI expects the economy to grow 7.2 per
cent in the current fiscal year.
The Inflation Prospect: The
wholesale-price-based inflation softened to an 11-month low of 12.41 per cent
in August, even though retail inflation inched up to 7 per cent. The US-based
agency said it expects the rupee value to remain at 79 against the US dollar by
the end of 2022, while the retail inflation is at around 6.2 per cent.
2. Kantar BrandZ India: TCS now
India’s most valuable brand: IT services firm Tata Consultancy Services
became India’s most valuable brand in 2022, according to a report by market
data and analytics firm Kantar, displacing long-time topper HDFC Bank. TCS,
with a brand value of $45.5 billion in 2022, is followed by HDFC Bank at $32.7
billion. HDFC Bank has held the No.1 position since the ranking was unveiled in
2014. Key Points:
a)
After
bouncing back from the pandemic shock, India’s top 75 brands now are worth a
combined $393 billion, or 11% of India’s national GDP, Kantar said. These
brands have reported a compounded annual growth rate (CAGR) of 35% in their
brand value since 2020.
b)
Technology
providers and B2B brands aced the rankings this year, contributing over a third
of total brand value. Purpose and sustainability are major drivers of value
growth for brand success.
Kantar BrandZ Top 10 Most Valuable
Indian Brands 2022
|
Rank |
Brand |
Category |
Brand Value 2022 (USD mil) |
|
1 |
Tata Consultancy Services |
Business Solutions & Technology Providers |
45,519 |
|
2 |
HDFC Bank |
Banks |
32,747 |
|
3 |
Infosys |
Business Solutions & Technology Providers |
29,223 |
|
4 |
Airtel |
Telecom Providers |
17,448 |
|
5 |
Asian Paints |
Paints |
15,350 |
|
6 |
State Bank of India |
Banks |
13,631 |
|
7 |
LIC |
Insurance |
12,387 |
|
8 |
Kotak Mahindra Bank |
Banks |
11,905 |
|
9 |
ICICI Bank |
Banks |
11,006 |
|
10 |
Jio |
Telecom Providers |
10,707 |
OBITUARIES
1. Former Tennis Legend captain
Naresh Kumar passes away: Former Indian tennis player and Davis Cup captain,
Naresh Kumar passed away recently at the age of 93. He was born on December 22,
1928, in Lahore, Naresh Kumar went on to become a big name in Indian tennis
after Independence. He made news by reaching the final of the Northern
Championships (later known as Manchester Open) in England in 1949.
His talent was soon recognised and Naresh Kumar made it to the Davis Cup team in 1952. He represented the country for eight consecutive years and later went on to become the captain. Prior to his Grand Slam appearances, Naresh Kumar went on to win two singles titles in the Irish Championships in 1952 and 1953. He also won the singles crown in the Welsh Championship and won a total of five career titles.
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