Daily GK Update- 7th Nov, 2022

 

NATIONAL UPDATES:

 

1. Finance Minister Launches Biggest Ever Coal Mine Auction of 141 Mines: Union Finance Minister Nirmala Sitharaman launched the biggest-ever coal mine auction of 141 mines that are expected to benefit twelve states directly. During the launch, the finance minister said that a fast-growing economy like India needs greater investment in coal production and gasification projects.

The Coal Ministry in a statement said that 33 coal mines were put up for auction in the sixth round of commercial auctions, out of which 71 were new coal mines and 62 coal mines were rolling over from earlier tranches of commercial auctions. Additionally, 8 coal mines under the second attempt of 5th round of commercial auctions were included for which single bids were received in the first attempt.

Direct Beneficiary States: The mines being auctioned are spread across coal/lignite-bearing states of Jharkhand, Chhattisgarh, Odisha, Madhya Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Telangana, Rajasthan, Tamil Nadu, and Bihar.

The reforms Recently Announced in Coal Sector:

a)      Commercial mining of coal is allowed, with 50 blocks to be offered to the private sector.

b)      Entry norms will be liberalised as it has done away with the regulation requiring power plants to use “washed” coal.

c)       Coal blocks to be offered to private companies on revenue sharing basis in place of fixed cost.

d)      Coal gasification/liquefaction to be incentivised through rebate in revenue share.

e)      Coal bed methane (CBM) extraction rights to be auctioned from Coal India’s coal mines.

 

2. Union Agriculture Minister Chairs National Natural Farming Mission Meeting: Union Agriculture Minister Narendra Singh Tomar chaired the first National Natural Farming Mission committee meeting at Krishi Bhawan. Shri Narendra Singh Tomar launched the NMNF portal. The portal contains all the information about the mission, implementation outline, resources, implementation progress, farmer registration, blog, etc. The portal will be for the benefit and welfare of farmers.

Union Agriculture Minister asked the officers to coordinate with the State government and central departments and enable market linkage so that farmers can easily sell their products. The meeting was attended by Union Rural Development Minister Shri Giriraj Singh, Jal Shakti Minister Shri Gajendra Singh Shekhawat, Uttar Pradesh Agriculture Minister Surya Pratap Shahi, Union Agriculture Secretary Shri Manoj Ahuja, and Senior officers of other ministries.

 

3. PM Modi inaugurated Global Investors Meet ‘Invest Karnataka 2022’: Prime Minister Narendra Modi has addressed the inaugural function of Invest Karnataka, the Global Investors Meet via video conferencing. The meet is aimed at attracting prospective investors and setting up development agenda for the next decade. About the Invest Karnataka:

a)      “Invest Karnataka’ is to grab the attention of the whole world. Global investment is coming here as Karnataka has a rich atmosphere. This will put a strong foundation for the development of Karnataka in the next five years.

b)      The country sessions would each be hosted by the partner countries: France, Germany, Netherlands, South Korea, Japan, and Australia, which would be bringing in high-level ministerial and industrial delegations from their respective countries.

c)       CM Basavaraj Bommai has called ‘Invest Karnataka’ an important meeting wherein all technocrats, young engineers, IT/BT experts, startups, educational institutions, and global and domestic investors are welcome.

d)      The Karnataka CM said he is expecting over ₹5 lakh crore investment and the State High-level Committee has already given clearance for an investment of over ₹2.8 lakh crore. Bommai said most of the investors have shown interest in investment beyond Bengaluru, and new industries are coming up in Ramanagar, Hubballi-Dharwad, Ballari, Kalaburagi, and Mysuru.

 

4. Unemployment Rate Surges to 7.77% in Oct Against 6.43% in Sept: CMIE: India’s unemployment rate rose in October due to a sharp increase in the rural joblessness rate after the kharif harvest season, according to the Centre for Monitoring Indian Economy (CMIE). Unemployment rate in surged last month on the back of significant increase in rural unemployment rate, reversing the decline registered in September.

Key Points:

a)      The jobless rate rose to 7.77% in October, from a four-year low of 6.43% in September, the CMIE data showed.

b)      The rural unemployment rate surged to 8.04% from 5.84% in September, while the urban jobless rate moderated to 7.21% compared with 7.7% in the previous month.

c)       Kharif crops sown at the beginning of the monsoon season are harvested between September and the first half of October. This results in a dip in October in rural employment, before it picks up in November when sowing for winter crops begins.

d)      In November 2021, the rural unemployment rate had fallen sharply to 6.41% from 7.91% in the previous month.

State-Wise Data:

a)      Among the 25 states for which data is available with the CMIE, six states registered the unemployment rate in double digits.

b)      Haryana registered the highest unemployment rate of 31.8 per cent followed by Rajasthan (30.7 per cent), Jammu & Kashmir (22.4 per cent), Jharkhand (16.5 per cent), Bihar (14.5 per cent) and Tripura (10.5 per cent).

c)       Madhya Pradesh recorded the lowest unemployment rate at 0.8 per cent by displacing Chattisgarh (0.9 per cent) from the spot.

 

5. National Cancer Awareness Day: 7th November: National Cancer Awareness Day 2022 is celebrated every year on 7th November in India. This day is important because it educates people about the serious risk of cancer. According to the World Health Organization (WHO), cancer is the second most deadly disease that causes death among people. In the year 2020, 8.5 lakh people in India died of cancer. For this reason, National Cancer Awareness Day 2020 is celebrated every year on 7 November to raise awareness about this type of cancer.

National Cancer Awareness Day History: Union Health Minister Dr Harsh Vardhan first announced National Cancer Awareness Day in September 2014. He started a state-level movement on cancer control and encouraged people to report to municipal clinics for a free screening. A booklet talking about the early signs of cancer and how to avoid it was also distributed.

 

INTERNATIONAL UPDATES:

 

1. Netanyahu and Allies Again Wins Israel Elections: Former Israeli prime minister Benjamin Netanyahu sealed his return to power, as the final vote count from elections this week gave him and his far-right allies a clear majority in parliament. Results released by the electoral commission said that with 99 per cent of votes counted, Netanyahu’s right-wing Likud party had earned 32 seats in Israel’s 120-seat parliament, the Knesset. The result sets Netanyahu up to form what may be the most right-wing government in Israeli history.

Combined with 18 for two ultra-Orthodox Jewish parties and 14 for the rising extreme-right alliance called Religious Zionism gave the bloc supporting Netanyahu 64 seats.

The parties backing centrist caretaker Prime Minister Yair Lapid won 51 seats, a definitive win for Netanyahu that spells an end to Israel’s unprecedented era of political deadlock, which forced five elections in less than four years.

 

2. Gender Wealth Gap (GWG) in APAC Largest in India at 64%: Report: A new study revealed that India has the widest gender wealth gap (64%) as compared to other APAC countries. This is largely due to the higher burden of caregiving responsibilities. The 2022 WTW Global Gender Wealth Equity report found that opportunities for women in leadership positions are also limited, with only 3% of women in the workforce occupying senior positions in India.

World Scenario: South Korea has been found as the best performing country in the APAC region in terms of gender wealth gap. The report highlights that across the 12 markets in the APAC region, the gender wealth gaps ranges from 64 per cent in India to 90 per cent in South Korea.

Women, when they retire from work, will just have 74 per cent of the wealth accumulated by men. The report said APAC has one of the lowest global wealth gaps on average for gender wealth equity. Women in the region will likely accumulate just over three-quarters or 76 per cent of men’s wealth levels, and just two points above the global average.

The Best Performing Countries: According to the report, a total of six markets included in the analysis have a higher wealth index at retirement for women compared to the global average, and among them are China (78 per cent), Japan (82 per cent), Philippines (79 per cent) and Singapore (79 per cent).

 

OTHER UPDATES:

 

SPORTS

 

1. Kerala to host Track Asia Cup 2022 Cycling Tournament: Kerala is set to host the Track Asia Cup 2022 Cycling Tournament. Track Asia Cup is one of the biggest cycling events and will be held at LNCPE Outdoor Velodrome from 25th November 2022 to 28th November 2022. In the Track Asia Cup 2022, around 200 cyclists will participate from over 25 countries in Asia. The event is being conducted outside Delhi for the first time. Key Points:

a)      Track Asia Cup is sanctioned by the Asian Cycling Confederation and Cycling Federation of India.

b)      The Cycling Association of Kerala informed that due to extreme heat, efforts are being made to hold the matches under flood lights.

c)       Track Asia Cup also the selection of Asian Countries for the 2024 Paris Olympics.

d)      Cycling Giants including China, Korea, Japan, and Kazakhstan are going to participate in the event. Malaysia, Sri Lanka, Pakistan, Bangladesh, Afghanistan, Indonesia, and India will also be a part of the event.

 

BANKING AND FINANCE

 

1. Niva Bupa partnered with IDFC FIRST Bank partner for Bancassurance: Niva Bupa Health Insurance Company Limited has announced a partnership with IDFC First Bank to provide health-insurance solutions to the customers of the bank. The advanced digital capability of the bank combined with Niva Bupa’s best-in-class health insurance solutions will provide the best services for the customers. The partnership will empower the two institutions to serve customers better and help them lead healthier lives. Key Points:

a)      Niva Bupa is known for introducing the most innovative health insurance benefits in India.

b)      They can design and launch products for different customer segments that will hold IDFC First Bank to offer customers services according to their needs.

c)       The partnership aims to provide growth for both businesses and to expand the reach to provide the best healthcare solutions.

d)      Both Niva Bupa and IDFC First Bank share synergy in terms of creating strong digital platforms for customers to enable seamless customer onboarding and excellent service experience.

 

BUSINESS AND ECONOMY

 

1. Adani New Industries installs India’s largest wind turbine, taller than Statue of Unity: Adani New Industries Ltd. has constructed a wind turbine in Mundra in Gujarat as part of its growth plans for renewable energy that is taller than the Statue of Unity and has blades that are broader than the wingspan of a jumbo jet.  About the Mundra Windtech Ltd:

a)      Mundra Windtech Ltd (MWL), an Adani Enterprises Ltd. wholly-owned company, installed the turbine (AEL). This prototype is also Adani New Industries Ltd.’s (ANIL) first addition to its portfolio and has paved the way for the installation of even larger wind turbine generators, according to the company.

b)      The wind turbine, which is 200 metres tall and can power over 4,000 households with 5.2 MW of electricity, can generate.

c)       Its 160-meter-diameter rotor makes it the most powerful wind turbine in the world. The wind turbine generator’s hub height is 120 metres or roughly the height of a 40-story structure.

d)      Over the past few years, the popularity of wind turbines has increased dramatically. Turbines of a capacity of 4 MW or more are typically installed offshore, where the machines can reach 14 MW in size.

Note: Adani New Industries Ltd Founded: 1988; Adani New Industries Ltd Headquarters: Ahmedabad; Adani New Industries Ltd Owner: Gautam Adani.

 

2. VR Krishna Gupta named as Chairman of BPCL: Vetsa Rama Krishna Gupta has taken over the additional charge of Chairman and Managing Director of Bharat Petroleum Corporation Limited (BPCL), post-superannuation of Arun Kumar Singh. V R K Gupta is Director (Finance) in the company and holds the additional charge of Director (HR).

He is currently a Board member in BPRL (Bharat Petro Resources Limited) and Fino Paytech Limited and was also a Board member in the recently amalgamated companies BORL (Bharat Oman Refineries Limited) & BGRL (Bharat Gas Resources Limited), as well as MAFFL (Mumbai Aviation Fuel Farm Facility Private Limited).

Note: BPCL Headquarters: Mumbai; BPCL Founded: 1952.

 

3. Energy Efficiency Services Limited named Vishal Kapoor as CEO: Energy Efficiency Services Limited (EESL) has announced the appointment of Vishal Kapoor as its chief executive officer (CEO). He takes charge after completing his tenure as the joint secretary at the Ministry of Power. As joint secretary, he led various government interventions, schemes, and reforms in the distribution sector. He also spearheaded cyber security and IT initiatives in the power sector. He played an instrumental role in formulating the Revamped Distribution Sector Scheme for the Operational and Financial turnaround of distribution utilities.

Note: Energy Efficiency Services Limited Headquarters location: New Delhi; Energy Efficiency Services Limited Founded: 2009; Energy Efficiency Services Limited CEO: Arun Kumar Mishra.

 

AWARDS AND HONOURS

 

1. Aruna Sairam honoured with Chevalier Award by French govt: Carnatic vocalist, composer, collaborator, humanitarian and speaker, Aruna Sairam has been honoured with the French government’s highest honour, Chevalier de l’Ordre des Arts et des award. Aruna Sairam has been selected for this award not just for her singing prowess, but also for her contribution towards the development of the Indo-France relationship.

Her music has erased geographical borders when she was the first to incorporate Abhang, a Western Indian musical form, into a traditional, South Indian concert. By interacting with national and international musicians, Aruna communicates beyond regional contexts, using melody as a language of human expression. Apart from this:

a)      Aruna Sairam is the recipient of several awards including the Padma Shri by the Central Government and the Sangita Kalanidhi by the Music Academy.

b)      She was also elected as the Vice-Chairperson of the Sangeet Natak Akademi.

c)       Apart from this, she is also the recipient of the Tamil Nadu government’s Kalaimamani Award and the Kalidas Samman Award of Madhya Pradesh.

d)      Aruna Sairam has also received the US Congressional Award of Excellence and was also conferred appreciation by the Mayor of the City of New York and the city of San Diego.

 

2. Noted Malayalam writer Sethu received Ezhuthachan Award 2022: Noted Malayalam fiction writer, Sethu (A. Sethumadhavan) has been selected for the Kerala government’s prestigious ‘Ezhuthachan Puraskaram’ this year in recognition of his overall contribution to the Malayalam language and literature. He focussed on modernising the literature by standing beyond the definitions of movements and trends.

About Ezhuthachan Puraskaram: The Ezhuthachan Puraskaram is the highest literary honour is given by the Kerala Sahitya Akademi, Government of Kerala. The award is named after Thunchaththu Ezhuthachan, a 16th-century devotional poet, considered to be the father of the Malayalam language. The honour carries a cash award of Rs 5,00,000 and a citation.