Daily GK Update- 15th Oct, 2022

NATIONAL UPDATES:

 

1. HM Amit Shah Unveils 14 feet High Statue of Lok Nayak Jayprakash Narayan: Union Home Minister Amit Shah unveils 14 feet high statue of Lok Nayak Jayprakash Narayan at Sitabdiara in Saran district, Bihar. He paid floral tribute to socialist icon Jayaprakash Narayan on his birth anniversary at his ancestral village at Sitabdiara. Home Minister Amit Shah highlighted the welfare schemes of the Union government.

Home Minister Amit Shah highlighted the fulfillment of the dreams of Sampoorna Kranti launched by Jayaprakash Narayan. Jayaprakash devoted his entire life to the nation and society. The occasion was felicitated by Union Minister Nityanand Rai, Chief Minister of Uttar Pradesh Yogi Adityanath, and several other political leaders.

 

2. PM inaugurates Phase 1 of Education Complex, Modi Shaikshanik Sankul: Prime Minister Narendra Modi inaugurated Phase 1 of Modi Shaikshanik Sankul, which is an educational complex for needy students in Ahmedabad. The project aims to provide facilities to students for holistic development. Prime Minister emphasized young students taking up medicine, engineering, and other such subjects as their major streams for further studies. Key Points:

a)      Prime Minister Narendra Modi asked parents to prepare their kids for skill development to combat difficult situations. Skill development will empower the child to overcome these hardships.

b)      He highlighted that Labour has tremendous power and a large section of our ‘samaj’ belongs to the hard-working class.

c)      The event was felicitated by Chief Minister of Gujarat Bhupendra Patel, Members of Parliament C R Patil and Narhari Amin, Minister of Gujarat government, Jitubhai Vaghani, and President of Modh Vanik Modi Samaj Hitvardhak Trust.

 

3. Union Minister Smriti Irani releases operations manual of Beti Bachao Beti Padhao: The Ministry of Skill Development and Entrepreneurship (MSDE) and Ministry of Minority Affairs organized “Betiyan Banein Kushal”. It is an inter-ministerial conference on non-traditional livelihoods (NTLs) for adolescent girls on the occasion of the International Day of the Girl Child. Union Minister for Women and Child Development, Smt Smriti Zubin Irani was the chief guest on the occasion. Key Points:

a)      In 2015, the Beti Bachao Beti Padhao campaign was started by Prime Minister Narendra Modi. The government has put constant effort into encouraging and empowering girls to pursue the vocation of their choice irrespective of gender stereotypes.

b)      The key highlight of the program was the interaction between Smt Smriti Zubin Irani and adolescent girls who have overcome child marriage, gender-based discrimination, and financial hardships.

c)      The Ministry of Women and Child Development will work on counseling girls for choosing academic streams after school and making available skill sets to those in Child Care Institutions to facilitate their financial independence and empowerment.

 

4. MHA: Jharkhand and West Bengal topped in worst state list in terms of child marriage: According to the latest demographic sample survey by the Union Home Ministry, the survey was brought out by the office of the Registrar General and Census Commissioner, Ministry of Home Affairs. It was conducted in 2020 and the report was published late last month. The Sample Registration System (SRS) Statistical Report contains estimates of various demographic, fertility and mortality indicators based on the data collected through one of the largest demographic surveys in the world covering about 8.4 million sample population.

Some key points in the report:

a)      Despite being renowned for its mines reserves, the state of Jharkhand has earned the disrepute of having the highest percentage of underage girls getting married. The percentage of girls getting married before attaining majority is as high as 5.8 in Jharkhand.

b)      The percentage of females who got effectively married before reaching 18 years of age is 1.9 at the national level and varies from 0.0 in Kerala to 5.8 in Jharkhand.

c)      The survey said that child marriages accounted for 7.3 per cent of marriages in rural areas and three per cent in urban areas in Jharkhand.

d)      Not only Jharkhand, West Bengal to has enough in its tally as more than half of the women are married before attaining the age of 21 years in the state.

e)      Around 54.9 per cent of girls are married in West Bengal before attaining the age of 21 years, the figure for Jharkhand is 54.6 per cent as against the national average of 29.5 per cent.

 

5. Hero MotoCorp Launched EV Scooter Vida V1 in India: Hero MotoCorp launched Vida V1 Electric Scooter in India. The Vida V1 Electric Scooter is commenced to be booked for Rs 2,499 in India. The bookings are open for Delhi, Jaipur, and Bengaluru only. The Hero Motocorp, Vida V1 Electric Scooter will be available in phases for the customers and deliveries will start in the second week of December 2022. The Vida V1 is highly customizable and comes in two variants, VIDA V1 Plus and VIDA V1 Pro. Key Points:

a)      There are two variants of the Vida V1 Electric Scooter, VIDA V1 Plus and VIDA V1 Pro which are available for Rs 1,45,000 and Rs 1,59,000 respectively.

b)      The two variants of electric scooters are highly versatile with a top speed of 80 kmph and a charging time of 1.2 km/min.

c)      The Vida V1 Pro has a range of 165 km whereas Vida V1 Plus has a range of 143 km.

d)      The Hero MotoCrop has launched the Vida V1, VIDA Platform, and VIDA Services.

e)      The electric transport by Hero MotoCrop has been built on top of a technology stack that has been created from scratch, including the strength of AI-driven personalized and context-aware resolution.

f)       Vida V1 Electric Scooter is the industry’s first proposition of Green EMI, assured buyback, long-term test ride, and repair on-site to make customer ownership and users simple and worry-free.

 

INTERNATIONAL UPDATES:

 

1. EU parliament approved adoption of world’s first single charger rule: According to a new law passed by the European Union parliament, all new smartphones, tablets and cameras will have a single standard charger from late 2024. The law was adopted with a vote of 602 in favour, and 13 against. It mandates smartphone, laptop and camera manufacturing companies to adopt a standard charger, at least in Europe. Makers of laptops will have extra time, from early 2026, to also follow suit.

EU policymakers say the single charger rule will simplify the life of Europeans, reduce the mountain of obsolete chargers and reduce costs for consumers. It is expected to save at least 200 million euros ($195 million) per year and cut more than a thousand tonnes of EU electronic waste every year.

European Union Founded: 1 November 1993, Maastricht, Netherlands; European Union Founders: Germany, France, Italy, Netherlands, Belgium, Luxembourg.

 

2. International Day of Rural Women: 15th October: October 15 is celebrated as the International Day of Rural women across the world. The day focuses to promote gender quality and highlight the important role played by women in rural areas. The International Day of Rural Women is a time to celebrate the important role that rural women play in society. It is also an opportunity to raise awareness about the challenges faced by rural women and to call for action to address these issues. The theme for the International Day of Rural Women (15 October), “Rural Women Cultivating Good Food for All”, highlights the essential role that rural women and girls play in the food systems of the world.

International Day of Rural Women History: Initially, the United Nations General Assembly established the International Day of Rural Women on December 18, 2007. In recognition of these challenges, the UN General Assembly adopted a resolution in 2007 declaring 15 October as the International Day of Rural Women. The day provides an opportunity to bring attention to the issues faced by rural women, and to celebrate their achievements and contributions.

 

3. World Student’s Day: 15th October: October 15 is celebrated as World Students’ Day to commemorate the birth anniversary of Dr APJ Abdul Kalam, a celebrated Aerospace scientist and former President of India. The day is marked to acknowledge his efforts toward students and education. Dr Kalam was born on October 15, 1931. He served as an inspiration to many students to achieve and do something remarkable. After his tenure as the President came to an end, he became a visiting faculty at the Indian Institute of Management (IIM) in Shillong, IIM-Indore and IIM- Ahmedabad.

Dr APJ Abdul Kalam became India’s most famous nuclear scientist and was known as the ‘Missile Man of India’. He played a crucial role in the Pokhran-II nuclear tests in 1998. During his five-year tenure as the country’s President, between 2002 to 2007, he was fondly called the ‘People’s President’. He was honoured with several recognitions including Padma Bhushan, Padma Vibhushan, Bharat Ratna, and Ramanujan Award.

 

OTHER UPDATES:

 

SPORTS

 

1. 37th National Games: Goa to host Games in October 2023: The Indian Olympic Association has confirmed that Goa will host the 37th edition of the National Games in October next year. The state government of Goa also conveyed its in-principle approval to IOA to host the National Games in 2023. The Goa delegation received the IOA flag at the Closing Ceremony of the 36th National Games on 12th October 2022 in Surat, Gujarat.

Notably: The 37th National Games will be decided to keep in view of the dates of the 19th Asian Games, which will be held from 23rd September to 8th October 2022 in Hangzhou, China.

Note: Goa Capital: Panaji; Goa Chief Minister: Pramod Sawant; Goa Governor: S. Sreedharan Pillai.

 

2. Cristiano Ronaldo reached record 700 club career goals: Cristiano Ronaldo reached another historic landmark in his extraordinary career by scoring his 700th club goal to seal Manchester United’s comeback win over Everton. The 37-year-old Portuguese forward becomes the first and only player in this present generation to score seven times a hundred goals in football history. His 700th club goal extends his tally over Lionel Messi with Argentina forward scoring 691 goals for Fc Barcelona and Paris Saint Germain. Career stats of Cristiano Ronaldo:

a)      Having started his career in 2002, 700 goals means Ronaldo has averaged 35 goals a season. Cristiano Ronaldo’s 700th club goal comes 20 years and two days after his first goal for Sporting Lisbon.

b)      The five-time Ballon d’Or winner scored his first professional goal on October 7, 2002, at the age of 17 years, 8 months, and 3 days. He scored a brace in Sporting Lisbon’s 3-0 win against Moreirense.

c)      This was his first goal in senior-level football. He scored his 144th goal for Manchester United in his two spells at the club, He scored a record 450 goals for Real Madrid, 101 for Juventus, and five(5) for Sporting Lisbon.

d)      The historic feat earned him a special award at the FIFA The Best Awards ceremony to commemorate the record-breaking feat and Ronaldo later added six goals to take his international tally with Portugal to 117 goals.

 

BANKING AND FINANCE

 

1. NSIC and Utkarsh Small Finance Bank signs MoU: The National Small Industries Corporation Ltd. (NSIC), a Government of India Enterprise under the Ministry of MSME, signed a Memorandum of Understanding (MoU) with the Utkarsh Small Finance Bank. This Memorandum of Understanding with the banks intends to assist MSMEs with their lending needs. The MoU was signed in the presence of Sh. Gaurang Dixit, CMD, NSIC, and Sh. P.R. Kumar, Chief General Manager, NSIC, and Sh. Manoj M.A., Business Head of the bank.

Himani Shali, the Chief Manager, was also present (Bank Tie Up).

Note: NSIC Chairman: P Udayakumar; CMD, NSIC: Sh. Gaurang Dixit

Utkarsh Small Finance Bank MD & CEO: Govind Singh

 

2. Pune based Seva Vikas Cooperative Bank licence revoked by RBI: Seva Vikas Cooperative Bank licence revoked by RBI: Seva Vikas Co-operative Bank, situated in Pune, had its licence revoked by the Reserve Bank of India (RBI) due to lack of sufficient capital and future earnings potential. With effect from the end of business on October 10, 2022, the bank stops conducting banking activity. Key Points:

a)      It has previously revoked the licence of the Rupee Cooperative Bank in Pune in August 2022.

b)      The Bombay High Court is hearing a judicial challenge to RBI action.

c)      Approximately 99% of depositors are eligible to retrieve the full value of their savings from the Deposit Insurance and Credit Guarantee Corporation, according to data provided by the bank (DICGC).

d)      From the entire insured deposits, DICGC had already paid out Rs. 152.36 crore as of September 14, 2022.

e)      Based on the consent provided by the relevant bank depositors, this payment is being made in accordance with the DICGC Act, 1961.

 

BUSINESS AND ECONOMY

 

1. Indians to be able to pay in Europe using UPI soon: NPCI International Payments Ltd (NIPL) and European payment services provider Worldline established a corporation due to which Indians will soon be able to make payments through UPI (United Payments Interface) across Europe. The National Payments Corporation of India (NPCI)’s international division is called NIPL. Key Points:

a)      The aim of the collaboration between NIPL and Worldline is to increase the adoption of Indian payment methods in Europe.

b)      Worldline will increase convenience for Indian clients in the European markets as part of the cooperation by enabling point-of-sale (POS) systems at businesses to accept payments from UPI (United Payments Interface).

c)      Later, customers from India will also be able to pay with their RuPay debit or credit cards in Europe.

d)      This will ultimately improve customer experience while providing new business opportunities for retailers.

e)      Due to an increase in foot traffic and expenditure from Indian tourists, this will result in a variety of customer-related merchant benefits, according to NPCI and Worldline’s announcement.

f)       According to NIPL, it will concentrate on markets like Switzerland and BENELUX (Belgium, the Netherlands, and Luxembourg).

Note: CEO of Worldline: Gilles Grapinet; Deputy CEO of Worldline: Marc-Henri Desportes

CEO of NIPL: Ritesh Shukla

 

2. Nomura Prediction for India in FY24: 5.2% Slowdown in Growth Rate: Nomura predicts that India’s growth will drastically slow down to 5.2% in 2023–24 (FY24) from 7% in the current fiscal year due to the spillover effects of the global downturn. The Japanese brokerage urged policy vigilance in the face of global challenges and emphasised that macro stability, not development, should be the first focus. Key Points:

a)      In FY20, the economy grew at 4%, a multi-year low. It is anticipated that growth will decelerate in FY24, just before the following national elections.

b)      Nomura predicts that inflation would average 6.8% in FY23, slightly higher than the Reserve Bank of India’s prediction of 6.7%, and then decline to 5.3% in FY24.

c)      Spending reductions would be required in order to fulfil the 6.4% budget deficit objective for FY23, and it was noted that a target of under 6% for FY24 was “circumspect”.

d)      The company predicted that the RBI will boost the terminal repo rate by 25 basis points in February and 35 basis points in December, respectively, to reach 6.50%.

e)      Since May, the RBI has increased the repo rate by 190 basis points to control inflation.

 

2. Ashok Leyland, IIT Madras tie up to develop hybrid EVS Using Turbine Tech: Ashok Leyland has joined hands with researchers at the National Centre for Combustion Research and Development (NCCRD) for the development and commercialization of a ‘swirl mesh lean direct injection (LDI) system’ for developing hybrid electrical vehicles using turbine technology. Ashok Leyland is a flagship company of the Hinduja group and a leading commercial vehicle manufacturer. NCCRD is an arm of the Indian Institute of Technology, Madras.

Key Points:

a)      IIT Madras is developing an indigenously-designed micro gas turbine, whose core is a patented combustion technology called a ‘swirl mesh lean direct injection system’.

b)      The main power train will be the electric motor, but the onboard power will be generated by the micro gas turbine.

c)      These micro gas turbines will be developed jointly by NCCRD and Aerostrovilos Energy. The micro gas turbine will replace the large battery systems.

d)      Ashok Leyland has signed a letter of support to develop it for heavy vehicles with NCCRD, IIT Madras. Ashok Leyland has handed over to NCCRD a nine-meter passenger electric bus.

e)      Micro gas turbines have significant features as a technology that will extend fuel combustion beyond traditional IC engines and provide for more efficient performance and multi-fuel capability.