Daily GK Update- 8th Nov, 2022

NATIONAL UPDATES:

 

1. Centre Sets Up Radhakrishnan Committee for Higher Educational Institutions: The Ministry of Education has set up a high-level panel to strengthen the assessment and accreditation of higher educational institutions. The panel will be headed by Dr K Radhakrishnan, Chairperson, Board of Governors, IIT Kanpur. He is also the chairperson of the Standing Committee of IIT Council. The mandate of the committee includes strengthening the assessment and accreditation processes and preparing a road map for the National Accreditation Council envisioned in the National Education Policy, 2020.

Members Of the Committee: Other members of the committee include Mridul Hazarika, Vice-Chancellor, Mahapurusha Srimanta Sankaradeva Viswavidyalaya, Assam; Bharat Bhasker, Professor, IIM, Lucknow and Joint Secretary, Department of Higher Education, Ministry of Education.

 

2. Haryana CM Launched ‘CM dashboard’ for Live Monitoring of Departments: Haryana Chief Minister Manohar Lal Khattar launched the ‘CM Dashboard’ portal that will have real-time data of all departments and decisions taken on major schemes. The ‘CM Dashboard’ portal will provide live monitoring of every department at the block, district, and panchayat levels. The portal will have information about the decisions taken by the administrative wing on major schemes. This will enable tracking of methodology and analysis of the report and further help in the comparison of old and new data. Key Points:

a)      In the ‘CM Dashboard’ portal, departments will link their day-to-day activities for effective monitoring.

b)      Through the ‘CM Dashboard’ portal timelines and deadlines of a particular task being met can be known.

c)       The portal will also provide information about which department had set what target for a particular task, whether that was achieved or if anyone defaulted, and for what reason.

d)      The ‘CM Dashboard’ portal will be beneficial in taking the state government’s ambition of good governance ahead.

e)      CM Manohar Lal Khattar launched a dedicated e-Upphar portal to auction gifts received by him. The bade bid amount would be fixed and payment would be directly transferred to the Chief Minister Relief fund.

 

3. Uttarakhand Chief Minister launches Lakhpati Didi Yojana: Uttrakhand Chief Minister Pushkar Singh Dhami inaugurated the ‘Lakhpati Didi’ fair at the survey of India Maidan, Hathbarkala in Dehradun. The fair is part of an initiative undertaken by the BJP government to empower women in the state. The Rural Development department of the Uttrakhand government has made preparations to make 1.25 lakh women from self-help groups ‘Lakhpati’ by 2025. Key Points:

a)      In the year 2025, the state will complete 25 years of the formation, and coincidentally the project will be also completed by 2025.

b)      1.25 lakh of the 3.67 lakh women belonging to self-help groups will become ‘Lakhpati’ under the targeted livelihood initiative.

c)       Under the ‘Lakhpati Didi’ scheme women belonging to self-help groups (SHGs) will be encouraged to take up micro-enterprises with skill development.

d)      The government will tie up e-commerce platforms like Amazon, Flipkart, and Government e-Marketplace so that the SHG products get national and international markets.

 

4. Subhrakant Panda named as President of FICCI: The Federation of Indian Chambers of Commerce and Industry (FICCI) has announced Mr Subhrakant Panda as its President-Elect. Mr Panda is currently the Senior Vice President of FICCI. He shall succeed Mr Sanjiv Mehta as President of the apex chamber at the conclusion of the 95th Annual General Meeting to be held on December 16th-17th, 2022.

Mr Panda is Managing Director of Indian Metals & Ferro Alloys Ltd (IMFA) which is the country’s leading, fully integrated producer of ferroalloys with captive mining and power generation employing 6500 people. He has handled various responsibilities in IMFA, and implemented expansion plans after he was appointed Managing Director which led to significant growth in revenue & profitability.

Note: FICCI Founded: 1927; FICCI Headquarters: New Delhi.

 

INTERNATIONAL UPDATES:

 

1. Switzerland created record for operating the longest passenger train: Switzerland is now home to the world’s longest passenger train. The train has 100 coaches, measures 1910 metres and consists of 4,550 seats. The train was seen passing through the mountainous landscape in the Swiss Alps. Celebrating the 175th anniversary of Switzerland’s first railway, the country’s railway operators came together to create the new Guinness World Record-holding train which tows 100 carriages, weighs 2,990 tons, and measures 1.91 km (1.19 miles) long.

The train carried 150 passengers on its journey. It wound through dazzling sunshine reflecting off its shiny-silver roof. The train also comes with a digital destination sign on the front that reads “Alpine Cruise” It took the spectacular Albula-Bernina route, listed as a UNESCO World Heritage site. The route covered nearly 25 kilometres from Preda to Alvaneu in less than 45 minutes. It passed through 22 helical tunnels and crossed 48 bridges on its way.

Note: Switzerland Currency: Swiss franc; Switzerland Capital: Bern.

 

2. India Tops List of Countries with Cheapest Manufacturing Costs: India has been ranked as the nation with the cheapest manufacturing cost ahead of China and Vietnam, according to a report. According to the US News and World Report, out of 85 nations, India has bagged the 31st position in the overall Best Countries ranking.

About The Report: The report evaluates 85 countries across 73 attributes. Attributes are grouped into 10 sub-categories, including adventure, agility, entrepreneurship, open for business, social purpose and quality of life.

Under the open for business sub-category, India has scored 100 per cent when it comes to cheap manufacturing costs. India featured at the 37th spot in the ‘Open for Business’ category. But in ‘favourable tax environment’, it has scored 16.2 out of 100; 18.1 in the ‘not corrupt’ category and 3.5 in ‘transparent government policies’.

Similarly, under the ‘quality of life’ segment, India has scored 1.9 in ‘income equality’; 4.3 in ‘safe’; 2.3 in ‘well-developed public health system’; and 9.9 in ‘economically stable’ sub-parameter.

Other Cheap Manufacturers: The list of top 10 countries with the cheapest manufacturing costs, which is headed by India, also includes Thailand (fourth), Philippines (fifth), Bangladesh (sixth), Indonesia (seventh), Cambodia (eighth), Malaysia (ninth) and Sri Lanka (tenth).

 

The World Scenario: China, which is India’s prime economic competitor in the South Asia region, has an overall ‘Open for Business’ score of 17, the report said. However, it ranks at the second spot, behind India, when it comes to cheap manufacturing costs. Vietnam, which has attracted a slew of apparel and footwear manufacturers over the past few years, has been placed at the third spot in the category of countries with the cheapest manufacturing costs. It is ranked 47th in the overall ‘Open for Business’ category.

In the overall Best Countries ranking, Switzerland has topped the chart, followed by Germany, Canada, US and Sweden.

 

3. Infant Protection Day: 7th November: Every year, November 7 is celebrated as Infant Protection Day. This day is celebrated with the sole purpose of raising awareness about the safety of newborn lives and giving them proper care. The day has been set to discuss how to best safeguard and nurture young children at one of their most important and vulnerable developmental stages.

The main reason behind the commemoration of Infant’s Protection Day is to take steps to protect the lives of infants. On this day, the government hopes to raise awareness about the protection and nurturing that infants require. This day also seeks to provide every child with the strong health and immunity they deserve.

 

4. World Radiography Day: 8th November: Every year on November 8, World Radiography Day is observed to honour the discovery of X-radiation, also known as X-rays. This day in 1895 saw the completion of German scientist Wilhelm Conrad Rontgen’s discovery of X-radiation, or X-rays. For this accomplishment, he was awarded the first Nobel Prize in Physics in 1901. The theme of International Day of Radiology 2022 is “Radiographers at the Forefront of Patient Safety.” This theme aims to encourage all radiologists, radiographers, radiological technologists, and professionals to recognize and promote the essential role of radiology in the treatment of a patient.

World Radiography Day History: According to many sources, the first World Radiography Day was observed in 2007 by the International Society of Radiographers and Radiological Technologists on November 8. however, the first major celebration of the day was organized in 2012 when the European Society of Radiology (ESR), Radiological Society of North America (RSNA), and American College of Radiology (ACR) came together for the initiative. This year will celebrate the 11th anniversary of International Day of Radiology.

 

OTHER UPDATES:

 

SPORTS

 

1. Dharmendra Pradhan Inaugurated ‘Baji Rout National Football Tournament’: Union Minister Dharmendra Pradhan inaugurated the ‘Baji Rout National Football Tournament’ in Dhenkanal in Odisha. The government under the leadership of Prime Minister Narendra Modi has been promoting sports and games in the country through initiatives like khelo India and Fit India. Key Points:

a)      The government aims to attract the younger generation that is stuck on the internet and TV to the playing field.

b)      The government of India in association with the FIFA and All India Football Federation has started the ‘Football for School’ initiative.

c)       The Union Minister Dharmendra Pradhan revealed that the program has been targeted to rope in about two crore fifty lakh school students towards football.

d)      Ten lakh footballs will be distributed among the government and private schools in all the districts of the country through the Jawahar Navodaya Vidyalaya.

 

BANKING AND FINANCE

 

1. Chqbook and NSDL Payments Bank collaborate for digital current accounts: The neobank for small business owners Chqbook has introduced the first digital current account of its sort in collaboration with NSDL. Small business owners, including kiranas and pharmacists, can easily open a current account on the Chqbook App from their smartphone in a language of their choice. The current account is more easily accessible and understandable because it is provided in eight different languages. Key Points:

a)      For more than 63 million small companies in India, the brand-new digital and immediate current account feature is a welcome innovation.

b)      By enabling small company owners to use the Chqbook App to access financial services like current accounts, loans, and insurance on their smartphones without having to fill out any paperwork, it advances Chqbook’s mission of financial inclusion.

c)       Most small business owners conduct their transactions through savings accounts, which can freeze owing to multiple credits, or current accounts at cooperative banks, which provide them with no digital interface at all.

d)      A conventional banking transaction entails a trip to a branch, which is tiresome, time-consuming, and includes paperwork. Apart from that, opening a current account at a bank branch takes between 7 and 20 days.

e)      Any business owner needs a current account as a fundamental tool to keep track of spending, manage cash flow, and facilitate accurate tax liability calculations. As a result, a corporate current account supports UPI transactions as well as deposits and withdrawals.

f)        With the recently introduced current account, long wait times are no longer an issue, and small business owners may open a current account in only a few minutes.

 

BUSINESS AND ECONOMY

 

1. India’s Foreign Exchange Reserves Finally Jump by $6.56 billion, Largest Weakly Gain in Over A Year: India’s foreign exchange reserves logged their biggest weekly jump since September 2021 and also rose for the first time in three weeks for the week ended October 28, helped by gains in both foreign currency assets and gold reserves. The foreign exchange reserves of Asia’s third largest economy rose by $6.56 billion to $531.08 billion for the week ending Oct 28, according to data released by the Reserve Bank of India.

Foreign Currency Assets: The foreign currency assets (FCA), a major component of the overall reserves, rose by $5.77 billion to $470.84 billion in the reporting week. Even gold reserves increased by $556 million to $37.76 billion. Experts said the surge in the reserves during the reporting week was on account of valuation gains arising out of depreciation of the US dollar against major currencies.

 

Tesla’s Former India Policy Chief to Join e-Scooter Startup Ather Energy: Tesla Inc.’s former India policy chief is joining homegrown electric scooter startup Ather Energy Pvt, one of the best-funded fledgling firms in a sector attracting record investment. Manuj Khurana who quit his post as Tesla’s local head of policy and business development in June, will start next week at the firm based in the southern technology hub of Bangalore. Khurana will join as a vice president, though his specific role there is unclear.

 

Hyderabad’s Megha Ltd to Build Mongolia’s First Greenfield Oil Refinery: Hyderabad-based Megha Engineering and Infrastructure Limited (MEIL) has taken up a project to build Mongolia’s first Greenfield oil refinery on the outskirts of the capital city, Ulaanbaatar. The project is aimed at reducing the East Asian country’s dependency on Russian oil imports. The company would provide EPC (Engineering, procurement, and construction) services and EPC-3 (captive power plants) for $790 million using advanced technology. Key Points:

a)      The project is a part of the development partnership administration initiative of India’s Ministry of External Affairs.

b)      The refinery would be built using a line of credit from the central government.

c)       Engineers India Limited is the project management consultant for this G2G partnership project.

d)      The refinery will open up a number of employment opportunities, supporting the growth of nearly small industries.

e)      This downstream project is of enormous importance and marks a critical turning point in the relationship between India and Mongolia. The project will bring economic prosperity and energy independence to Mongolia.

 

Awards

 

1. Amit Dasgupta honoured with a member of the Order of Australia Award: Amit Dasgupta was appointed as an Honorary Member in the General Division of the Order of Australia (AM) for his service to the Australia-India bilateral relationship. Dasgupta is a tireless promoter of Australia-India relations, challenging the nations’ governments and people to realise the underlying potential of a stronger bilateral relationship. Tenure of Das Gupta in Australia:

a)      As Consul-General of India to Australia from 2009 to 2012, Dasgupta was a staunch advocate for the principles of multiculturalism, which underpins contemporary Australia.

b)      During this period, attacks against Indian students threatened Australia’s international reputation. Dasgupta’s personal efforts assisted in diffusing tensions and reassuring the Indian diaspora.

c)       Dasgupta was instrumental in establishing the Australia-India Youth Dialogue. Now in its second decade, the Dialogue is a permanent fixture of the bilateral relationship and fosters connections between Australian and Indian young people.

d)      Dasgupta continues to advance relations between the two countries as a Distinguished Fellow of the Australia India Institute, a Senior Fellow at the Society for Policy Studies, and the Inaugural Country Director of the University of New South Wales since 2016.

Note: Australia Capital: Canberra; Australia Currency: Australian dollar; Australia Prime minister: Anthony Albanese.

 

2. M T Vasudevan Nair awarded with Kerala Jyothi award: M T Vasudevan Nair, a renowned Malayalam author and Jnanpith laureate, has been chosen to receive the inaugural Kerala Jyothi award, which was established by the state government in the spirit of the Padma awards to recognise people who have made priceless contributions to society.

Key Points:

a)      Delhi-based Malayalam megastar Mammootty Omcheri N. N. Pillai, a playwright in Malayalam, and T. Madhava Menon, a former civil servant and social worker, has been chosen to receive the first “Kerala Prabha” awards, announced by the government.

b)      The first “Kerry Sree” awards have been given to amphibian biologist Sathyabhama Das Biju (Dr S D Biju), magician Gopinath Muthukad, sculptor Kanayi Kunhiraman, businessman Kochouseph Chittilappilly, scientist M P Parameswaran, and singer Vijayalakshmi, according to a statement released on the eve of Kerala Piravi.

Awards established by Kerala Government: The Kerala administration made the decision to establish the highest state-level honours, modelled after the Padma awards, last year. The three categories of “Kerala Jyothi,” “Kerala Prabha,” and “Kerala Sree” awards were settled upon. The government has made the decision to present the prizes during Kerala Piravi.