Daily GK Update- 22nd Oct, 2022

NATIONAL UPDATES:

 

1. Union Cabinet Approves MSP Hike for All Mandated Rabi Crops: The Union Cabinet approved an increase in the Minimum Support Price (MSP) for all Rabi Crops for the Marketing Season 2023-24. The highest increase has been cleared for lentils with a hike of 500 rupees per quintal. The MSP on wheat has been hiked by 110 rupees and barley by 100 rupees.

Information and Broadcasting Minister, Anurag Singh Thakur said that the increase is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of a minimum of 1.5 times of the All-India weighted average Cost of Production.

MSP: The MSP is the rate at which the government purchases crops from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers. MSP is a “minimum price” for any crop that the government considers as remunerative for farmers and hence deserving of “support”.

 

2. PM Kisan Samman Sammelan 2022 Launched by PM Modi: The PM Kisan Samman Sammelan 2022 launched by Prime Minister Narendra Modi at the Indian Agricultural Research Institute in New Delhi. More than 13,500 farmers from all around the country and about 1,500 agri entrepreneurs attended the two-day event. Key Points:

a)      The Prime Minister officially open 600 Pradan Mantri Kisan Samruddhi Kendras (PMKSK) under the ministry of chemicals and fertilisers.

b)      PMKSK provide agri-inputs like fertilisers, seeds, and implements; testing facilities for soil, seeds, and fertilisers; awareness-raising activities for farmers; details on various government programmes; and regular capacity building for retailers at block/district level outlets.

c)       In the country, a progressive conversion of more than 3.3 lakh retail fertiliser stores into PM Kisan Samman Sammelan Kendras (PMKSK) is envisaged.

Other Inaugurations

a)      During the occasion, the PM also introduce the One Nation One Fertilizer initiative, Bhartiya Jan Urvarak Pariyojana.

b)      In order to assist businesses in marketing fertilisers under the single brand name “Bharat,” he introduced Bharat Urea Bags.

c)       Direct benefit transfer will be used to distribute the 12th instalment payment under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) for the welfare of farmers.

d)      Additionally, the PM opened the Agri Startup Conclave and Exhibition, where about 300 firms presented their cutting-edge farming innovations.

e)      The occasion also saw the launch of the fertiliser-focused e-magazine “Indian Edge.”

 

3. India Lifted 415 million out of Poverty in 15 Years: UN: The number of people living below the poverty line in India decreased by 415 million between 2005-06 and 2019-21, according to a new Multidimensional Poverty Index (MPI) released jointly by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI) at the University of Oxford.

The index has stated that India still has the world’s highest number of poor at 228.9 million, followed by Nigeria (96.7 million projected in 2020). The report found that across 111 countries which were assessed using the most recent comparable data available, 1.2 billion people (19.1 per cent) live in acute poverty and almost half of these people (593 million) are children under the age of 18 years. The developing region with the largest number of poor people is Sub-Saharan Africa (nearly 579 million), followed by South Asia (385 million), the report highlighted. About India:

a)      According to the report, India had 97 million poor children in 2019-21. This translates into more than one in five children (21.8 per cent)–more than the total number of poor people in any other country covered by MPI.

b)      According to the report, India is the only country in South Asia where female-headed households are poorer than male-headed households. About 19.7 per cent of people living in female-headed households live in poverty compared with 15.9 per cent in male-headed households.

c)       Bihar continues to be the poorest state in the country. Others among the top 10 poorest states were Jharkhand, Meghalaya, Madhya Pradesh, Uttar Pradesh, Assam, Odisha, Chhattisgarh, Arunachal Pradesh and Rajasthan. West Bengal was the only state among the top-10 poorest in India in 2015-16, and not in 2019-21.

d)      The poor in India remain vulnerable amid rising food and fuel prices, the report said.. About 18.7 per cent of people in India were found to be vulnerable to poverty because their deprivation score ranges from 20 per cent to 33 per cent. A person with a deprivation score of 50 is considered to be poor.

 

4. Railway Minister Ashwini Vaishnaw Inaugurates India’s First Aluminum Freight Rake at Bhubaneswar Railway Station: Railway Minister Ashwini Vaishnaw inaugurated India’s first aluminium freight rake — 61 BOBRNALHSM1 — at Bhubaneshwar Railway Station. The rake’s destination is Bilaspur. As per reports, the aluminium freight rake wields the capacity to carry 180-ton more goods as against the traditional rake. Moreover, it is 180 tons lighter than the traditional steel rake. Features of This Rake:

a)      Fully Lockbolted construction with no welding on superstructure.

b)      The tare is 3.25 tons lower than normal steel rakes, 180 ton extra carrying capacity resulting in higher throughput per wagon.

c)       Higher payload to tare ratio 2.85.

d)      The reduced tare will reduce carbon footprint as lower consumption of fuel in empty direction and more transport of freight in loaded condition. A single rake can save over 14,500 tonnes of CO2 over its lifetime.

e)      80% is resale value of the rakes.

f)        Cost is 35% higher as the superstructure is all aluminium.

g)      Lower maintenance cost due to higher corrosion and abrasion resistance.

 

5. Home Minister Amit Shah Launches First Hindi Version of MBBS Course Books: Home Minister Amit Shah launched the MBBS Course books in Hindi version at Bhopal, Madhya Pradesh. It is the first ever Hindi version of the MBBS course books in India. The book launch event was felicitated by the Bhopal state education minister Vishvas Kailash Sarang and Bhopal CM Shivraj Singh Chouhan. The book launch was announced to make education easily accessible for those students who have not studied in English Medium schools.

 

INTERNATIONAL UPDATES:

 

1. Partha Satpathy appointed as next Indian Ambassador to Bosnia and Herzegovina: Partha Satpathy has been appointed as India’s next ambassador to Bosnia and Herzegovina. He is currently the Ambassador of India to the Republic of Hungary. On 3rd November 2022, Parth Satpathy was appointed as the Ambassador of India to Hungary. He served as the Hungarian Ambassador for 11 months and then became the Ambassador of India to Bosnia and Herzegovina.

About Partha Satpathy: Partha Satpathy was the Ambassador of India to Ukraine from 2018 to 2022. Before that, he served as the Head of the Division in the Ministry of External Affairs. He has also served as the Ambassador of India to the Republic of Senegal with concurrent accreditation to the Republic of Cape Verde, the Republic of Guinea Bissau, and the High Commissioner of India to the Republic of the Gambia from 2012-2015.

 

2. Ulf Kristersson Elected as Sweden’s new Prime Minister Backed by Far Right: Sweden’s parliament elected Moderates leader Ulf Kristersson as the country’s new prime minister. A total of 176 members of the Riksdag voted in favor of Kristersson, while 173 members voted against him.

The Sweden Democrats were the big winners in the closely fought September 11 general election. They emerged as the second-largest party with a record 20.5 percent of votes, trailing only the Social Democrats, who have dominated Swedish politics since the 1930s. The right-wing bloc now has 176 seats in parliament, to their left-wing rivals’ 173. Kristersson’s four-party alliance unveiled a 62-page roadmap heavily influenced by the far-right agenda. It promises major crackdowns on crime and immigration and the construction of new nuclear reactors.

 

3. International Stuttering Awareness Day: 22nd October: International Stuttering Awareness Day (ISAD) or International Stammering Awareness Day is celebrated on October 22. The day creates awareness about the speech disorder known as stuttering or stammering. Stuttering refers to disruptions in the fluency of speech. Its symptoms include involuntary repetition of words and temporary inability or difficulty to utter sounds or words, among others. The theme for 2022’s International Stuttering Awareness Day is “Being seen, being heard: Representation and normalisation of stuttering in the mainstream,”. The theme highlights the fact that stuttering is something that affects many in society and is nothing abnormal.

 

4. Bob Dylan’s latest book, “The Philosophy of Modern Song,” released soon: A new book titled “The Philosophy of Modern Song” authored by Bob Dylan, Nobel laureate and published by Simon & Schuster will be launched in November 2022. The Philosophy of Modern Song contains the artistic journey and achievements of Bob Dylan.

The collection of essays is Bob Dylan’s first book of new writing since 2004, when he released ‘Chronicles, Volume One and since winning the Nobel prize for literature in 2016. Bob Dylan released thirty­nine studio albums. He won the Nobel Prize in Literature and was also awarded the French Legion of Honor, a Pulitzer Prize and the Presidential Medal of Freedom etc. The most prominent books of Bob Dylan are ‘’The Lyrics 1961­2012’’, ‘’Tarantula (1971)’’, ‘’Younger Than That Now’’ etc.

 

OTHER UPDATES:

 

SPORTS

 

1. Jyothi Yarraji becomes first Indian woman to run sub-13s hurdles: Jyothi Yarraji, an Indian Sprinter made history in the women’s 100m hurdles as the became the first Indian woman to run a sub-13s time to win the gold medal at the Nation Games 2022. Jyothi Yarraji broke her national record representing Andhra Pradesh by running the final in 12.79s. Earlier, Jyothi Yarraji won the women’s 100m gold, leaving behind Sprinters lime Dutee Chand and Hima Das.

National Open Athletics Championships 2022: The National Open Athletics Championships 2022 is the last senior domestic competition of the season which is held at the Kanteerava Stadium, Bangalore. There are more than 800 participants from across the country to compete in 47 medal events at the five-day meet. On 19th October 2022, the competition will be concluded. The events include race walking (men’s and women’s), pole vault, discus throw, long jump, shot put, heptathlon, hurdles, javelin throw, etc.

 

2. Serbian scientists name beetle after country’s tennis star Novak Djokovic: Serbian scientists have named a new species of beetle after the tennis player Novak Djokovic, a Serbian tennis player due to its speed, strength, flexibility, durability and ability to survive in a difficult environment. The new species of beetle belongs to the Duvalius genus that is present in Europe. It was discovered several years ago in an underground pit in western Serbia. The insect is a specialised underground Coleoptera beetle, a predator which lost its eyes living deep underground.

The insect, which belongs to the Duvalius genus of ground beetles that are present in Europe, was discovered several years ago in an underground pit in western Serbia. It is named Duvalius Dokovici, the Tanjug news agency quoted researcher Nikola Vesovic. A new species was a specialised underground Coleoptera beetle, a predator which had lost its eyes living deep underground.

 

BANKING AND FINANCE

 

1. KBL Centenary Deposit Scheme launched by Karnataka Bank: KBL Centenary Deposit Scheme launched: Karnataka Bank has launched a term deposit scheme named the KBL Centenary Deposit Scheme with effect from October 17, 2022. In order to honour the amazing journey towards its Centenary and to thank its customers, the bank has created a special term deposit programme with a higher rate of interest. Key Points:

a)      For a period of 555 days, the KBL Centenary Deposit Scheme will enjoy an interest rate of 7.20% p.a. Senior citizens will pay an interest rate of 7.60% annually.

b)      Customers have a great chance to save money and invest it to make more money.

c)       In order to recognise the great progress made toward the centennial, it offers a higher rate of interest.

d)      The Karnataka Bank will join the elite group of banks that are now providing the highest rate of interest on term deposits in the banking market by implementing this deposit programme.

Note: Headquarters of Karnataka Bank: Mangaluru, Karnataka; Chairman of the Karnataka Bank: P Pradeep Kumar

 

BUSINESS AND ECONOMY

 

1. India’s foreign exchange reserves increased by USD 204 million: The Reserve Bank reported an increase in the value of gold assets caused India’s foreign exchange reserves to climb by USD 204 million to USD 532.868 billion for the week ended October 7. The total reserves decreased by USD 4.854 billion to USD 532.664 billion during the previous reporting week. Key Points:

a)      The aggregate foreign reserves decreased to USD 532.664 billion from USD 4.854 billion the previous week ending September 30.

b)      The foreign reserves have been declining for several weeks as the central bank uses its funds to protect the rupee against pressures mostly brought on by international events.

c)       India’s foreign exchange reserves hit an all-time high of USD 645 billion in October 2021.

d)      In the week ending October 7, Foreign Currency Assets (FCAs), a significant portion of total reserves, decreased by USD 1.311 billion to USD 471.496 billion, according to the Reserve Bank of India’s (RBI) Weekly Statistical Supplement.

e)      The Special Drawing Rights (SDRs) grew by USD 155 million to USD 17.582 billion, while the gold holdings rose by USD 1.35 billion to USD 38.955 billion.

f)        According to data from the apex bank, the nation’s reserve position with the International Monetary Fund (IMF) increased by USD 10 million to USD 4.836 billion during the reporting week.

 

2. Adani Airports appoints Ericsson veteran Arun Bansal as CEO: Adani Airport Holdings has again rejigged its top management, naming Ericsson veteran Arun Bansal its chief executive officer. Bansal, who spent 25 years at the Swedish telecom network company, was most recently its president for Europe and Latin America. The appointment will help strengthen digital transformation and the business growth agenda.

Note: Adani Airport Headquarters location: Ahmedabad; Adani Airport Founded: 2 August 2019; Adani Airport Parent organization: Adani Group.

 

AWARDS AND HONOURS

 

1. Prakash Padukone, Badminton Legend awarded with SJFI medal: The Sports Journalists’ Federation of India medal (SJFI medal) for 2019 was presented to badminton legendary star Prakash Padukone during a cordial ceremony at the Karnataka State Cricket Association. Vijay Amritraj was the inaugural recipient of the award, which was established in 2018. The COVID-19 outbreak caused a delay in the 2019 award ceremony. In his remarks, Prakash Padukone discussed how badminton rose to become the “second most popular sport” in India.

 

2. Sri Lankan author Shehan Karunatilaka won Britain’s Booker Prize 2022: Sri Lankan author, Shehan Karunatilaka has won Britain’s Booker Prize 2022 for fiction for his work “The Seven Moons of Maali Almeida”, about a journalist murdered amid the country’s sectarian strife. The judges praised the “ambition of its scope, and the hilarious audacity of its narrative techniques”. Karunatilaka’s second novel, The Seven Moons of Maali Almeida comes more than a decade after his debut, Chinaman, which was published in 2011.

Notably: Karunatilaka, 47, is the second Sri Lankan to win the award, following Michael Ondaatje’s victory in 1992 for “The English Patient”. Aside from the £50,000 ($56,000) prize, winning the Booker can provide a career-changing boost in sales and public profile.

The essence of the book: The Booker-winning novel tells the story of the photographer of its title, who in 1990 wakes up dead in what seems like a celestial visa office. With no idea who killed him, Maali has seven moons to contact the people he loves most and lead them to a hidden cache of photos of civil war atrocities that will rock Sri Lanka.

 

3. American historian Barbara Metcalf conferred Sir Syed Excellence Award for 2022: Noted American historian Prof. Barbara Metcalf was awarded the Sir Syed Excellence Award 2022 by the Aligarh Muslim University (AMU) on the 205th birth anniversary of its founder Sir Syed Ahmad Khan. Prof. Metcalf has written extensively on the history of the Muslim population of India and Pakistan.

Sir Syed Ahmad Khan: Sir Syed Ahmad Khan (17 October 1817 – 27 March 1898; also Sayyid Ahmad Khan) was a South Asian Muslim reformer, philosopher, and educationist in nineteenth-century British India. Initially espousing Hindu-Muslim unity, he became the pioneer of Muslim nationalism in India. Born into a family with strong debts to the Mughal court, Ahmad studied the Quran and Sciences within the court. He was awarded an honorary LLD from the University of Edinburgh in 1889.