Daily GK Update- 6th Sep, 2022

NATIONAL UPDATES:

 

1. Defence Minister Rajnath Singh embarked on five-day visit to Mongolia & Japan: Defence Minister Rajnath Singh embarked on a five-day visit to Mongolia and Japan starting September 5th. This will be the first ever visit by an Indian Defence Minister to Mongolia. Defence Minister to hold bilateral talks to further consolidate defence cooperation between the two countries. He will also travel to Japan for the 2+2 Ministerial dialogue. In a first, Union Defence Minister Rajnath Singh is scheduled to visit to Mongolia from September 5 to 7.

Agenda In the Meeting: During the visit, Mr. Singh will hold bilateral talks with his Mongolian counterpart Lt Gen. Saikhanbaya and also call on the President of Mongolia, U. Khurelsukh and Chairman of the State Great Khural of Mongolia, G. Zandanshatar. “During the bilateral talks, the two Defence Ministers shall review the bilateral defence cooperation between India and Mongolia and explore new initiatives to further strengthen bilateral engagements. The two leaders will also exchange views on regional and global issues of shared interest,” the Ministry said. India and Mongolia share a strategic partnership with defence being a key pillar. The bilateral defence engagements with Mongolia have been expanding over a period of time to include wide ranging contacts between the two countries, including Joint Working Group meeting, military to military exchanges, high level visits, capacity building and training programmes and training bilateral exercises, the statement added.

In The Last Leg of Visit: In Japan, Mr. Singh and External Affairs Minister S Jaishankar will join their Japanese counterparts under the framework of ‘2+2’ foreign and defence ministerial dialogue, people familiar with the matter said on Sunday. The dialogue is taking place over five months after Japanese Prime Minister Fumio Kishida visited India for the annual India-Japan summit. In the 2+2 dialogue, the two sides are expected to deliberate on ways to further expand bilateral cooperation in the areas of defence and security besides taking stock of the developments in the Indo-Pacific, the people cited above said.

 

2. Karnataka introduces the VentuRISE Global Startup Challenge: The Karnataka government announced the worldwide startup competition VentuRISE Global Startup Challenge, which aims to aid entrepreneurs in the manufacturing and sustainability-related industries. The global startups will give business owners from all over the world a stage to present their cutting-edge goods or solutions and make connections with potential investors. Key Points:

a)      The Global Investors Meet-Invest Karnataka 2022, which takes place from November 2 to 4 in Bengaluru, will include VentuRISE as a participant.

b)      The challenge’s winners will get a cash prize of USD $100,000.

c)       They will get access to clients, special pitching opportunities at Invest Karnataka, carefully arranged investor meetings, and mentoring sessions.

d)      The goal of the VentuRISE logo unveiling ceremony was to promote Karnataka as the top location for startups in the manufacturing and sustainability sectors.

Note: Karnataka Chief Minister: Basavaraj Bommai; Karnataka Capital: Bangaluru

 

3. IILM University: Law School is India’s 1st NEP 2020 compliant Law School: IILM University launched the first National Education Policy 2020 (NEP 2020) Complaint Law School in the Country. The IILM University also got the approval of the Government of Uttar Pradesh and the recognition of the Bar Council of India (BCI). The IILM Law school is also known for its state-of-the-art infrastructure. The IILM University’s interdisciplinary teaching and training techniques comply with NEP 2020 which directs the IILM Law School to achieve its goals and planned experiential learning through various practical initiatives.

It offers a conducive study environment powered by well-designed Moot Courtrooms, e-conference and Seminar halls, mock-trail events, counseling chambers, and medication and arbitration practice centers. Its core assessment policy is a ‘Credit Based Choice System’. The students have a broad self-selective and self-monitored learning opportunity. The students get internship opportunities in the 5 years course in NGOs, Law firms, Supreme Court, High Courts, District Courts, and Corporate Houses. The major aim of IILM is ‘To produce skillful law practitioners to complement a strong legislative, executive, judicial system and corporate and social sectors making them deliver the best for India’.

 

4. CERT-In conducts exercise Cyber Security Exercise “Synergy”: Indian Computer Emergency Response Team (CERT-In) under the Ministry of Electronics and IT, in collaboration with the Cyber Security Agency of Singapore, successfully designed and conducted the Cyber Security Exercise “Synergy” for 13 Countries. The Group is being led by India under the leadership of the National Security Council Secretariat. The theme of the exercise was “Building Network Resiliency to counter Ransomware Attacks”. The exercise scenario was derived from real-life cyber incidents, in which a domestic level (limited impact) ransomware incident escalates to a global cyber security crisis.

About the Exercise “Synergy”: The Exercise “Synergy” was hosted by CERT-In on its exercise simulation platform. Each State participated as a National Crisis Management Team having composition from different government agencies. The specific objective of the exercise was to Assess, Share and Improve strategies and practices among Member-States to build network resiliency against ransomware & cyber extortion attacks. The exercise scenario was derived from real-life cyber incidents, in which a domestic level (limited impact) ransomware incident escalates to a global cyber security crisis.

 

5. Kartik Aaryan-starrer ‘Bhool Bhulaiyaa 2’ is getting a comic book adaptation: Kartik Aaryan-starrer “Bhool Bhulaiyaa 2” will be adapted into a comic book series. Production houses T-Series and Cine1Studios have teamed up with Diamond Comics, India’s iconic comic book distributor and publisher, to bring ‘Rooh Baba Ki Bhool Bhulaiyaa’, based on Aaryan’s character, to the young audience.

The comic book’s key visual features Kartik Aaryan as Rooh Baba. The poster also stars the iconic characters from Diamond Comics. Shaktimaan and Chacha Chaudhary can be seen on the left side of Rooh Baba, while on the right side, Sabu is also illustrated on the comic book cover. Motu and Patlu are also showcased in the key visual.

 

6. Rajesh Kumar Srivastava, Interim New Chairman of ONGC: Rajesh Kumar Srivastava has been appointed as the interim new Chairman and Managing Director (CMD) of the state-run Oil and Natural Gas Corporation Ltd (ONGC) by the Central Government. Rajesh Kumar Srivastava is the third interim Chief who has been appointed, as the government has not made any full-time appointment yet in 17 months.

Srivastava has been entrusted with an additional charge of Chairman and Managing Director for 4 months with effect from 1 September 2022 to 31 December 2022 or till the appointment of a regular incumbent to the post or until further orders of the Government. He is currently the Director and will take over the additional charges from incumbent Alka Mittal, who was also an acting chief. Since April 2021, Oil and Natural Gas Corporation Ltd has been functioning without a regular Chairman and Managing Director.

 

INTERNATIONAL UPDATES:

 

1. Dubai hosts the first Homeopathy International Health summit: The first Homeopathy International Health summit hosted by Dubai aimed to teach and promote a homeopathic system of medicine, medications, and practices. Burnett Homeopathy Pvt Limited, a company that deals with homeopathic dilutions, mother tincture, lower trituration tablets, unique medicines including drops, syrups, skincare, hair care, and other homeopathic remedies, organised the summit. Key Points:

a)      Homeopathy is one of the greatest techniques to treat any sickness or ailment because its negative effects are so minimal in comparison to others.

b)      The first global homeopathy health summit was also attended by a large number of top doctors from both India and throughout the world.

c)       One of the largest health risks to people worldwide is climate change.

d)      By 2030, it is predicted that the health industry will need to spend between 200 and 400 crore rupees annually due to climate change, as discussed in the first global homeopathy health summit.

e)      The issue poses a threat to reverse the fifty years of progress made in reducing poverty and improving global health, as well as to exacerbate already-existing health disparities across and within communities.

 

OTHER UPDATES:

 

SPORTS

 

1. Apeksha Fernandes Becomes 1st Indian Woman to Reach WJS Championships Final: Apeksha Fernandes became the first Indian woman to make the Junior World finals by finishing eighth overall. Apeksha Fernandes sets a new national record with a time record of 2:18.18. She finished eighth in the women’s 200m butterfly finals by clocking 2:19.14 at the FINA World Junior Swimming Championships 2022. The previous National record was set in June 2022 at 2:18.39 which was set by Apeksha Fernandes. She has one of the fastest reaction times of 0.65s.

In men’s 200m freestyle heats, Vedaant Madhavan was disqualified due to a false start. Sambhavv Rama Rao also did not qualify for the eight-man final, he finished 27th overall in 1:55:71. David Popovici from Romania has crowned the junior World champion in 200m freestyle.

 

2. Former goalkeeper Kalyan Chaubey elected as new AIFF chief: Kalyan Chaubey, who was a goalkeeper with the storied Mohun Bagan and East Bengal football clubs in Kolkata, was elected president of the All India Football Federation. Choubey got 33 votes in the 34-member electorate comprising representatives of various state associations. His opponent and former East Bengal teammate Bhaichung Bhutia, also 45, had to be content with a solitary vote.

Note: All India Football Federation Founded: 23 June 1937; All India Football Federation Headquarters location: New Delhi.

 

BANKING AND FINANCE

 

1. All-India House Price Index rose by 3.5% in Q1 of 2022-2023: All-India House Price Index of Q1, 22-23: The all-India house price index (HPI) increased by 3.5% year over year, during the first quarter of 2022–2023 according to information made public by the Reserve Bank of India. The HPI increased by 1.8% between January and March and by 2% between April and June of 2021–22. Key Points:

a)      According to the RBI, there were significant differences in the year-over-year movements of the HPI among the cities, ranging from a growth of 16% in Kolkata to a contraction of 4% in Bengaluru.

b)      In the first quarter of 2022–2023, the all-India HPI climbed by 2.2% sequentially.

c)       The indicator sequentially decreased in Delhi, Kolkata, and Jaipur, while it increased in all other cities.

 

BUSINESS AND ECONOMY

 

1. Forbes Asia 100 To Watch 2022: Indian start-ups features in the list: Forbes Asia released the 2nd edition of the list titled ‘Forbes Asia-100 to Watch 2022’. The list highlights small companies and startups on the rise across the Asia-Pacific region. The list for 2022 featured 11 start-up companies from India along with 19 companies from Singapore, followed by 16 start-ups from Hong Kong, 15 from South Korea, and 13 from China. According to Forbes, 15 countries and territories are represented across 11 categories that include biotechnology and healthcare, e-commerce and retail, and finance. Eligibility criteria:

a)      Companies had to be headquartered in the Asia-Pacific region, Privately owned, for profit.

b)      Companies have not more than USD 50 million in its latest annual revenue and have not more than USD 100 million in total funding through 1 August 2022.

Indian start-ups ‘Forbes Asia-100 to Watch’ list:

 

Company	CEO	Founded Year	Category
TartanSense	Jaisimha Rao	2015	Agriculture
Gramheet	Pankaj Prakash	2020	Agriculture
Bijak	Nakul Upadhye	2019	Agriculture
Animall	Neetu Yadav	2019	Agriculture
Agrostar	Shardul Sheth	2013	Agriculture
Pocket FM	Rohan Nayak	2018	Entertainment & Media
Euler Motors	Saurav Kumar	2018	Logistics & Transportation
Park+	Amit Lakhotia	2019	Logistics & Transportation
FRND	Bhanu Pratap Singh Tanwar	2018	Consumer Technology
Bijnis	Siddharth Vij	2015	E-commerce & Retail
GoKwik	Chirag Taneja	2020	E-commerce & Retail

 

2. LIC out of list of Top 10 valued Indian Companies, Replaced by Bajaj and Adani Transmission: Life Insurance Company (LIC) is out of the top 10 companies by market capitalization as it has been replaced by Bajaj Finance and Adani Transmission. LIC has dropped to 11th position in the list, Bajaj Finance at 10th, and Adani Transmission at 9th position. Adani Transmission entered the top 10 list with a market value of ₹4.43 lakh crore on the BSE, which is higher than Bajaj Finance’s total mcap of ₹4.42 lakh crore and LIC’s ₹4.26 lakh crore. Key Points:

a)      The LIC share prices have fallen sharply since its listing on the stock exchange and LIC shares will be allotted to the investors at ₹949 apiece.

b)      LIC, which is a state-run life insurance behemoth has reported a multifold jump in its June quarter net profile at ₹682.9 crores.

c)       It also reported 20% year-on-year growth in the net premium led by 35% growth in the new business.

d)      Reliance Industries Limited (RIL) is on the top of the list of valued Indian Companies with a market capitalization of ₹17.8 lakh crore, followed by Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever (HUL), ICICI Bank and State Bank of India (SBI).

 

3. Jasprit Bumrah Face of New-Age, Eco-Friendly Luggage Brand “Uppercase”: Jasprit Burmah has been signed as the Brand Ambassador of the “Uppercase” eco-friendly luggage brand. Jasprit Bumrah is managed by RISE Worldwide which is a Reliance Initiative and India’s largest sports, and entertainment Company will lead the D2C brand’s ‘Never Ordinary’ campaign. The campaign ‘Never Ordinary’ is a series of creatives that tells the features and USPs of the Uppercase bags. The film showcases the Uppercase bags as a perfect choice that is eco-friendly in nature. Key Points:

a)      The film highlights that Uppercase bags are Global Recycle Standard certified sustains travel gear.

b)      It makes Uppercase one of the first travel accessories brands in India to meet international product standards and recycled content certification.

c)       Uppercase gears are not only fashionable but also provide rainproof zippers, 3X more water resistance material, and premium recycled fabrics.

d)      These bags are handcrafted and right sized for different needs.

e)      The brand also provides a 2500-day international warranty.

 

AWARDS AND HONOURS

 

1. Former US president Barack Obama wins Emmy award for his narration in Netflix documentary: The former President of the United States Barack Obama won Emmy Award for his narration in the Netflix documentary “Our Great National Parks”. Obama already has two Grammys and is now halfway to an EGOT- the achievement of having won all four of the major American entertainment awards i.e. an Emmy, a Grammy, an Oscar, and a Tony.

The five-part Netflix documentary produced by “Higher Ground” productions, Barack and Michelle Obama’s production company, features national parks from across the globe. Barack Obama has previously received Grammy Awards for the audiobook readings of his memoirs “The Audacity of Hope” and “A Promised Land.” Michelle Obama received her own Grammy in 2020 for reading her audiobook. Obama was the biggest name in a category that was full of celebrity nominees including Kareem Abdul-Jabbar, David Attenborough and Lupita Nyong’o.