Daily GK Update- 20th Mar, 2022

 

NATIONAL UPDATES:

 

1. Nitin Gadkari inaugurates Toyota “Mirai” India’s first Green Hydrogen Fuel Cell EV: Union Minister for Road Transport and Highways, Nitin Gadkari has inaugurated the world’s most advanced technology-developed Green Hydrogen Fuel Cell Electric Vehicle (FCEV) Toyota Mirai at New Delhi. Toyota Mirai is India’s first Fuel Cell Electric Vehicle (FCEV), which is completely powered by Hydrogen.

About the Toyota Mirai: Toyota Mirai has been launched by Toyota Kirloskar Motor Pvt Ltd and International Center for Automotive Technology (ICAT) under a pilot project, to study and evaluate the performance of Toyota Mirai on Indian roads and climatic conditions. This is a first of its kind project in India which will create a Green Hydrogen based ecosystem in the country and help India to become ‘Energy Self-reliant’ by 2047.

 

2. Mahanadi Coalfields Limited is now the biggest coal-producing firm of India: The Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India, has announced that it has become the country’s largest coal producer. In the financial year 2021-22, the company reported it produced 157 million tonnes of coal. The business also generated 7.62 lakh tonnes of dry fuel on March 12. In a statement, the corporation stated that it was the largest production in a single day during the current fiscal year. MCL has delivered over 166 MT dry fuel to consumers, a 22 percent increase over the previous financial year, and has removed 195 MCuM (million cubic metres) of overburden, a 19 percent increase over the previous financial year, according to a statement.

 

3. India’s 1st Digital Water Bank ‘AQVERIUM’ launched in Bengaluru: India’s First Digital Water Bank, ‘AQVERIUM’ has been launched in Bengaluru, Karnataka which is an innovative initiative aimed at better water management. It is formed by AquaKraft Group Ventures. It is a very unique innovation combining sustainable & green technologies along with information technology, skill development & entrepreneurship. It is a curated list of water data from all institutions and sources, that will help tackle some common development challenges.

About ‘Digital Water Data Bank’:

a)      Digital Water Data Bank can be understood as a curated list of ‘Water Data’ from all institutions and sources that will further aid in tackling some common development challenges.

b)      The digital water data bank also provides insights and evidence from research and analytics thereby providing fundamental reliable information for tackling water pollution.

c)       Data, in any field, facilitates building a broader picture that further enables us to harness the best evidence and make informed decisions. When it comes to making a water-secure world, data-driven decisions can greatly improve service delivery, sustain water resources and build resilience.

Note: Karnataka Capital: Bengaluru; Karnataka Chief Minister: Basavaraj S Bommai; Karnataka Governor: Thawar Chand Gehlot.

 

4. Maternal Mortality in India: Kerala tops in maternal: Kerala has yet again emerged on top when it comes to maternal and child health, with the State recording the lowest Maternal Mortality Ratio (MMR) of 30 (per one lakh live births) in the country. According to the latest data, India’s maternal mortality ratio (MMR) has improved to 103 for the period 2017-19. The Maternal Mortality Ratio (MMR) of Kerala has dropped from 42 to 30. Kerala has achieved the UN Sustainable Development Goals of MMR in the year 2020 itself. Maternal Mortality Ratio (MMR) is defined as the number of maternal deaths per 100000 live births.

Key points:

a)      Kerala, Telangana, and Maharashtra are included in the top 3 states with the lowest MMR in India.

b)      The Maternal Mortality Ratio (MMR) has worsened in West Bengal, Haryana, Uttarakhand, and Chhattisgarh.

c)       The maternal mortality ratio (MMR) has drastically improved in UP, Rajasthan, and Bihar.

d)      Italy, Norway, Poland, and Belarus have the lowest MMR in the world.

 

5. ISRO successfully tested solid fuel-based booster stage of SSLV: Indian Space Research Organization (ISRO) has successfully completed the ground test of the solid fuel-based booster stage (SS1) of its new Small Satellite Launch Vehicle (SSLV) at Satish Dhawan Space Centre (SDSC), Sriharikota at Andhra Pradesh. It completes the ground testing of all three stages of the launch vehicle. The vehicle is now ready for its first development flight, which is scheduled for May 2022.

Other stages of SSLV like SS2 & SS3 have successfully undergone necessary ground tests and are ready for integration. At present, the launch of small satellites has been dependent on ‘piggy-bank’ rides with big satellite launches on the PSLV (Polar Satellite Launch Vehicle) of ISRO, which has completed around 50 successful launches.

Note: Chairman and Space Secretary of ISRO: Dr S Somanath; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

 

INTERNATIONAL UPDATES:

 

1. ‘Mahatma Gandhi Green Triangle’ Unveiled In Madagascar: Mahatma Gandhi Green Triangle’ has been unveiled in Madagascar to mark Azadi ka Amrit Mahotsav. Ambassador of India to Madagascar, Abhay Kumar celebrated the Azadi ka Amrit Mahotsav by inaugurating a Green Triangle, along with Mayor of Antananarivo Naina Andriantsitohaina. The word green in the plaque signifies their commitment to sustainable development and saving the environment. The naming of this park as Mahatma Gandhi Green Triangle is an apt tribute to Mahatma Gandhi.

While addressing the ceremony, the Ambassador of India said that the Government of India has launched an initiative: Azadi Ka Amrit Mahotsav (AKAM) to celebrate and commemorate 75 years of progressive India. The event was attended by members of local government, diplomatic corps, heads of international organisations, and members of the Indian Diaspora in Madagascar.

Note: Madagascar Capital: Antananarivo; Madagascar Currency: Malagasy ariary; Madagascar President: Andry Rajoelina.

 

2. International Day of Happiness: 20th March: International Day of happiness is observed every year around the world on March 20. The United Nations started celebrating this day in 2013, but the resolution for the same was passed on July 12, 2012. The resolution was initiated by Bhutan which shed the light on the importance of National Happiness. The theme for Happiness Day 2022 is Keep Calm, Stay Wise and Be Kind.

International Happiness Day: History and Significance: Bhutan initially prioritized the value of National Happiness over National Income in the 1970s. Bhutan is known for adopting the goal of Gross National Happiness over Gross National Product at the 66th General Assembly. The country also hosted a High-level meeting on Happiness and Well-Being: Defining a New Economic Paradigm” during the session. When the UN launched 17 Sustainable Development Goals in 2015, which included goals like putting an end to poverty, reducing inequality and protecting our planet.

 

3. World Oral Health Day: 20th March: The World Oral Health Day is marked every year on March 20. The day aims to raise global awareness of the issues around oral health and the importance of oral hygiene so that governments, health associations and the general public can work together to achieve healthier mouths and happier lives. The theme for World Oral Health Day 2021-2023 is: Be Proud Of Your Mouth.

History of the day: The FDI World Dental Federation launched World Oral Health Day in 2007. The day was originally celebrated on 12th September in remembrance of FDI founder, Dr Charles Godon. Later, it was changed to 20th March in 2013 to avoid conflict with the FDI World Dental Congress in September.

 

4. World Sparrow Day: 20th March: World Sparrow Day (WSD) is celebrated every year on March 20th. This day is meant to raise awareness about the house sparrow and the dangers it confronts. The purpose of World Sparrow Day is to raise awareness and protect the bird all across the world. The theme of World Sparrow Day is “LOVE Sparrows.”

World Sparrow Day History: World Sparrow Day was established by Mohammed Dilawar, the founder of The Nature Forever Society. He started several projects, including the biodiversity Photo Contest, the annual Sparrow Awards, Project Save Our Sparrows, and the Common Bird Monitoring of India programme. The first World Sparrow Day was held in the year 2010. In 2011, the World Sparrow Awards were established. The award recognises persons who have made significant contributions to environmental conservation and ordinary species protection.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Co-branded credit cards with Emirates Skywards launched by ICICI Bank: In collaboration with Emirates Skywards, the loyalty programme of Emirates and flydubai, ICICI Bank created the ‘Emirates Skywards ICICI Bank Credit Card’. Customers can earn reward points – known as Skywards Miles – on travel, lifestyle, and everyday purchases with the collection of cards. These cards, according to the private sector lender, offer best-in-class rewards and advantages and are a perfect fit for affluent consumers who travel abroad frequently.

Key Points:

a)      ICICI Bank is the first Indian bank to join together with Emirates Skywards to offer the exclusive credit card programme in India.

b)      The Emirates Skywards ICICI Bank Emerald Credit Card, Emirates Skywards ICICI Bank Sapphiro Credit Card, and Emirates Skywards ICICI Bank Rubyx Credit Card are all Visa-powered co-branded credit cards.

c)       These cards offer up to 2.5 Skywards Miles per Rs 100 spent and a slew of other perks, including bonus Skywards Miles, complimentary Emirates Skywards Silver status, dining offers through the ICICI Bank Culinary Treats Program, and entertainment offers through BookMyShow, depending on the card variant.

d)      Customers can use their Skywards Miles to purchase a variety of items, including partner airline tickets, flight upgrades, hospitality at athletic and cultural events, and much more.

e)      Joining and renewing your membership can earn you up to 10,000 Skywards Miles.

f)        For every Rs 100 spent, you can earn up to 2.5 Skywards Miles, plus you’ll get complimentary Emirates Skywards Silver status.

 

BUSINESS AND ECONOMY

 

1. India entered into world’s top five club in terms of market capitalization: As per Bloomberg’s recent data on Market capitalization, for the 1st time, India’s equities market has entered the world’s top 5 in terms of market capitalization. India is ranked 5th with an overall market capitalization of USD 3.21 trillion. The total world market cap stands at USD 109.22 trillion. The US topped the ranking with an overall market cap of USD 47.32 trillion, followed by China (USD 11.52 trillion), Japan (USD 6 trillion) and Hong Kong (USD 5.55 trillion).

India’s market cap has surpassed: The United Kingdom (UK) ranked 6th with an M-Cap of USD 3.19 trillion, Saudi Arabia ranked 7th with an M-Cap of USD 3.18 trillion, Canada ranked 8th with an M-Cap of USD 3.18 trillion, France ranked 9th with an M-Cap of USD 2.89 trillion and Germany ranked 10th with M-Cap of USD 2.29 trillion.

 

AWARDS AND HONOURS

 

1. Miss World 2021: Poland’s Karolina Bielawska crowned: Karolina Bielawska from Poland has won the title of Miss World 2021. She was crowned by 2019 Miss World Toni-Ann Singh of Jamaica. She beat the USA, Indonesia, Mexico, Northern Ireland and Cote d’Ivoire to clinch the coveted title. Indian-American Shree Saini from the United States bagged the first runner-up title, followed by Olivia Yace from Cote d’Ivoire. The 70th edition of the Miss World international beauty pageant was held in San Juan, Puerto Rico. Miss World 2019 Toni-Ann Singh performed ‘The Prayer’ during the 70th Miss World pageant to express solidarity with Ukraine amid the Russia-Ukraine crisis.

Indian Contender: Femina Miss India World 2020 Manasa Varanasi represented India at the Miss World 2021. Manasa Varanasi reached the Top 13 contestants but could not make it to the Top 6 finalists.

 

DEFENCE

 

1. In memory of Gen. Bipin Rawat, Indian Army dedicates “Chair of Excellence”: On the eve of General Bipin Rawat’s 65th birthday anniversary, the Indian Army has dedicated a chair of excellence in the late chief of defence staff (CDS)’s memory at the United Service Institution of India (USI), the country’s oldest think tank founded in 1870. The Chair will be open to Veterans of three Services and civilians having expertise in the field of National Security.

The purpose of Gen Bipin Rawat Memorial Chair of Excellence at USI will be to conduct research on strategic issues related to the armed forces, with a focus on the field of Jointness and Integration. The topic for 2022 research will be Jointness and Integration in the Context of Land Warfare in India. Gen MM Naravane, Chief of Army Staff handed over a cheque of Rs 5 lakhs to Director, USI, Maj Gen BK Sharma (retd), which will be paid as honorarium to the nominated Chair of Excellence.

 

2. M V Ram Prasad Bismil becomes longest vessel to sail from Ganga to Brahmaputra: The MV Ram Prasad Bismil has become the longest vessel ever to sail from Ganga to the Brahmaputra. The 90 meters long and 26 meters wide flotilla, loaded with a draft of 2.1 meters, achieved the feat on March 15, 2022, when it successfully completed the pilot run of heavy cargo movement from Syama Prasad Mookerjee Port in Haldia, to Pandu port in Guwahati.

The cargo vessel was flagged off from the Haldia Dock in Kolkata along with two barges (DB Kalpana Chawla and DB APJ Abdul Kalam) by Union Minister of Ports, Shipping & Waterways (PSW), Sarbananda Sonowal on February 16, 2022, and docked at Pandu port in Guwahati on March 15, 2022. Carrying 1793 metric tonnes of steel rods, the vessel covered the distance from Haldia to Pandu through Bangladesh on the Indo-Bangladesh Protocol Route (IBPR).

Daily GK Update- 19th Mar, 2022

 

NATIONAL UPDATES:

 

1. Nation’s first AI & Robotics Technology Park (ARTPARK) launched in Bengaluru: The country’s first Artificial Intelligence & Robotics Technology Park (ARTPARK) was launched in Bengaluru, Karnataka. It is promoted by a not-for-profit foundation set up by the Indian Institute of Science (IISc) Bengaluru, with a seed capital of Rs. 230 crore from the State and Central governments. ARTPARK (AI and Robotics Technology Park) along with AI Foundry is going to launch a $100 million venture fund to support AI and robotics innovations in India. The fund will be backed by the government, private companies, and VCs. The lab has technical teams working in collaboration with multiple labs at IISc. It will also work with other technical institutes and bodies, including the Indian Institute of Technology (IIT) Kanpur, IIT Jodhpur, the University of Aalto in Finland, Indian Council of Medical Research and the All India Institute of Medical Sciences.

About the ARTPARK:

a)      ARTPARK intends to use futuristic technologies to connect the unconnected will work with a focus on creating a globally leading AritificiaI Intelligence and Robotics Innovation ecosystem in India.

b)      The ARTPARK has the objective of channelizing innovations to create a societal impact by executing ambitious mission-mode R&D projects in healthcare, education, mobility, infrastructure, agriculture, retail, and cyber-security aiming to solve problems unique to India.

 

2. Bhagwant Mann sworn in as new chief minister of Punjab: Bhagwant Mann was sworn in as the 18th chief minister of Punjab at Khatkar Kalan, the ancestral village of Bhagat Singh in the presence of Governor Banwarilal Purohit. The Aam Aadmi Party romped home winning 92 seats in the 117-member Punjab Assembly, decimating the Congress and the SAD-BSP combine. Chanting ‘Jo Bole So Nihal’ and ‘Bharat Mata Ki Jai’, Bhagwant Mann thanked the people who attended the swearing-in ceremony. Mann ended his speech with ‘Inquilab Zindabad’ (long live the revolution).

Besides newly-elected AAP MLAs, Delhi Chief Minister Arvind Kejriwal and other senior party leaders were also present at the ceremony. Among other leaders present at the ceremony are Deputy CM of Delhi Manish Sisodia and Delhi environment minister Gopal Rai.

 

3. Delhi govt launched ‘My EV’ portal for registering and purchasing e-autos: The Delhi government has launched an online ‘My EV‘ (My Electric Vehicle) portal for the purchase and registration of electric autos in Delhi. It is accessible to all users on the website of the transport department of Delhi. Under the Delhi Electric Vehicle Policy, a 5% interest rate subvention will be provided on the purchase of e-autos on loans and become the first state to provide such a facility. The web portal was developed with the collaboration of the Delhi government and Convergence Energy Services Limited (CESL).

CESL has empanelled six Financial Institutions (FIs) – Mahindra Finance, Akasa Finance, Mannapuram Finance, RevFin, and Prest Loans to provide loans to EVs at attractive terms. The Interest subvention on the purchase of EVs is in addition to the applicable purchase incentive of INR 30,000 and scrapping incentives of up to INR 7,500 under the Delhi EV Policy. The consumer will be able to avail of up to INR 25,000 additional benefits.

Note: Delhi Chief Minister: Arvind Kejriwal; Delhi Lieutenant Governor:  Anil Baijal.

 

4. N Chandrasekaran named as chairman of Air India: The chairman of Tata Sons, N Chandrasekaran has been appointed as the chairman of Air India. In February 2022, N Chandrasekaran was reappointed as chairman of Tata Sons for a second term of five years. Tata Sons will soon announce a new MD and CEO for Air India to replace Ilker Ayci who was to take charge next month but resigned in the wake of controversies regarding his appointment.

Chandrasekaran also serves as the non-executive chairman of several other Tata Group companies, including Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals and Tata Consumer Products. He was reappointed Tata Sons’ executive chairman last month for another five years.

Note: Tata Group Founder: Jamsetji Tata; Tata Group Founded: 1868, Mumbai; Tata Group Headquarters: Mumbai.

 

5. Oscars 22: India’s ‘Writing with Fire’ nominated in Best Documentary feature category: A documentary about the Dalit-led, all-woman newspaper Khabar Lahariya, “Writing With Fire” became the first Indian documentary to be nominated at the Oscars. ‘Writing With Fire’ had won Audience and Jury Awards at the Sundance Film Festival last year. It is produced by Ticket Films and directed by filmmakers Rintu Thomas and Sushmit Ghosh. ‘Khabar Lahariya’ is a newspaper founded in May 2002 in Chitrakoot, Uttar Pradesh.

Other nominees in the category are: “Ascension”, “Attica”, “Flee”, and “Summer of Soul (Or, When the Revolution Could Not Be Televised)”.

 

6. A book titled ‘Modi@20: Dreams Meet Delivery’ released soon: The Bharatiya Janata Party (BJP) has announced to release a book on the life of Prime Minister Narendra Modi titled Modi@20: Dreams Meet Delivery. It is set to hit stands in April 2022. The book is a compilation of pieces written by intellectuals & experts and has been edited & compiled by BlueKraft Digital Foundation.

The essence of the book: The book captures the political life of PM Modi’s past 20 years, ranging from his tenure as Gujarat CM to Prime Minister of India and has been compiled by eminent intellectuals and personalities from industry and politics. Those who have contributed to the book include Sudha Murty, Sadhguru, Nandan Nilekani, Home Minister Amit Shah, External Affairs Minister S Jaishankar, late legendary singer Lata Mangeshkar, National Security Adviser Ajit Doval, industrialist Uday Kotak, actor Anupam Kher, badminton star PV Sindhu and former principal secretary to PM Nripendra Mishra.

 

INTERNATIONAL UPDATES:

 

1. Revoking Russia’s Most Favored Nation Trade Status: US: President Biden announced that the United States—along with the G7, the European Union, and NATO—will revoke Russia’s Most Favored Nation (MFN) trade status. Revoking Russia’s PNTR status will allow the United States to increase and impose new tariffs on all Russian imports. In the US, the “most favoured nation” status is also known as permanent normal trade relations (PNTR). Only North Korea and Cuba do not enjoy the “most favoured nation” status from the US.

The main aim of this step is to punish the Russian government for its invasion of Ukraine. The United States will also not export luxury goods to Russia. Earlier, the United States has banned the import of Oil and energy from Russia. This action will cause economic harm to Russia by damaging its ability to export to wealthier Western markets; it will also raise costs for Americans and our trading partners that may rely on affected Russian products.

Most Favored Nation status: A most favoured nation status designation means two countries have agreed to trade with each other under the best possible terms — low tariffs, few barriers to trade and the highest possible imports allowed.

 

OTHER UPDATES:

 

SPORTS

 

1. FIDE Chess Olympiad 2022 will be held in Chennai: India has been picked as the host nation for the FIDE Chess Olympiad 2022. The 44th edition of the Olympiad is scheduled to be held in Chennai, from 26th July 2022 to 8th August 2022. This is the first time that India will host the FIDE Chess Olympiad since its inception in 1927. The event was originally scheduled to be held in Russia, but FIDE pulled out from there following the Ukraine invasion.

The venue will be the Four Points by Sheraton Mahabalipuram Resort & Convention Center, 60 kilometres south of central Chennai. It is located in Mamallapuram, one of the famous tourist sites in India and a UNESCO World Heritage Site of seventh- and eighth-century Hindu monuments.

 

BUSINESS AND ECONOMY

 

1. Rs 1.42 lakh crore budget for Jammu and Kashmir for FY 2022-23, presented by Finance Minister Nirmala Sitharaman: In the Lok Sabha, Finance Minister Nirmala Sitharaman proposed a Rs 1.42 lakh crore budget for the union territory of Jammu and Kashmir for the fiscal year 2022-23, despite opposition pleas for more time to review the plans. Sitharaman also tabled the Union Territory’s additional demands for the fiscal year 2021-22, totaling Rs 18,860.32 crore, and moved a resolution to suspend certain norms to allow the House to take up the debate on the same day.

Key Points:

a)      Manish Tewari of the Congress and N K Premachandran of the RSP both objected to Sitharaman’s motion, claiming that Rule 205 is part of the basic rules of process and cannot be waived.

b)      Some rules are beyond the House’s power to change. Tewari, a Congress member from Anandpur Sahib, said that MPs needed more time to consider the government’s budget recommendations for Jammu and Kashmir.

c)       Speaker Om Birla authorised the business for the day during the Business Advisory Committee meeting, according to Rajendra Agarwal, who was in the chair.

d)      According to Tewari, the Lok Sabha’s obligation is complicated because it is adopting the responsibility of the Jammu and Kashmir legislature, which should have taken up the issue.The budget papers had not been issued by the government, he stated, advising that the meeting be rescheduled for Tuesday to allow members to read the ideas and offer reasoned objections.

e)      The member from Kollam, Premachandran, claimed that the minister had also requested a joint discussion on the budget plans and the supplemental need for funds, which would be against the rules.

 

2. Shubman Gill & Ruturaj Gaikwad named as brand ambassadors for My11Circle: Games24x7 Private Limited, India’s leading digital skill games company, has appointed Indian cricketers Shubman Gill and Ruturaj Gaikwad as its new brand ambassadors for its My11Circle fantasy gaming platform. Both of them will feature in the multimedia campaigns of Games24x7 across TV, digital and social media platforms.

Games24x7, founded by Bhavin Pandya and Trivikraman Thampy in 2006, offers a range of skill games (RummyCircle, My11Circle, Carrom) and casual games (U-Games). My11Circle is also the official title sponsor of the new Indian Premier League(IPL) team Lucknow Super Giants. In January 2022, Games24x7 has appointed Bollywood actor Hrithik Roshan as its brand ambassador for the online skill gaming platform.

 

AWARDS AND HONOURS

 

1. Axis Bank won ‘Asian Bank of the Year’ at IFR Asia Awards 2021: India’s third-largest private sector bank, Axis Bank has been awarded IFR Asia’s Asian Bank of The Year, for its breadth of coverage and depth of expertise in the Asian investment banking space. The award acknowledges the bank’s outstanding performance in equity and debt issuance, across all major products and segments. Axis Bank was the only local house to serve as a global coordinator for the record Rs. 183 Bn Paytm IPO, and was also the global coordinator for Macrotech Developers’ Rs. 25 Bn IPO.

This year, the bank has also won the ‘Best DCM House in India’ Award at the Finance Asia’s Country Awards. Axis Bank has been No. 1 on the Bloomberg League Table ranking for 15 consecutive calendar years and has maintained its leadership position in the domestic Debt Capital Market.

Globally: Morgan Stanley has been honoured with the Bank of the year award at the IFR Asia Award 2021 and the JSW Group has been awarded with the Issuer of the year award. The awards are organized by IFR Asia, a Hong Kong-based provider of capital markets intelligence.

 

2. Narayan Pradhan named for GD Birla Award for Scientific Research: Professor Narayan Pradhan has been selected for the 31st GD Birla Award for Scientific Research for his outstanding contribution in the field of material sciences. He has provided his expertise in crystal modulations to help design new shapes of these tiny lighting materials.

Pradhan’s research work focused on understanding the chemistry and physics of light-emitting semiconductor nanocrystals. His research group has significantly contributed to the surface construction of the newly emerged light-emitting halide perovskite nanocrystals, which are expected to be the next-generation lighting materials for photovoltaics and making LEDs. He has provided his expertise in crystal modulations to help design new shapes of these tiny lighting materials.

About the award: Instituted in 1991, the award recognises eminent Indian scientists below the age of 50 for their original and outstanding contributions to any branch of science. It carries a cash prize of Rs 5 lakh. The recipient is chosen by a selection board, whose present head is professor Chandrima Shaha, the president of the Indian National Science Academy (INSA).

Daily GK Updates - 20th June, 2019

NATIONAL UPDATES:

1. FM chairs the 20th Meeting of the FSDC in New Delhi: The 20th meeting on Financial Stability and Development Council (FSDC) was held under the chairmanship of Finance Minister Nirmala Sitharaman in New Delhi. The meeting reviewed the current global and domestic economic situation and financial stability issues including, inter-alia. Sitharaman will present the first budget of the new government on July 5.

Note: The Financial Stability and Development Council (FSDC) was constituted in December 2010. The FSDC was set up to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development. 

Composition: The Council is chaired by the Union Finance Minister and its members are Governor, Reserve Bank of India; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, Securities and Exchange Board of India; Chairman, Insurance Regulatory and Development Authority and Chairman, Pension Fund Regulatory and Development Authority. 

It also includes the chairman of the Insolvency and Bankruptcy Board (IBBI).

2. Himachal Pradesh makes GPS device must for trekkers: The Himachal Pradesh government makes mandatory for trekkers to carry a GPS device so that they can be provided all possible help in case of any emergency. According to the Himachal Pradesh government, as Himachal Pradesh being a disaster prone state, therefore Kullu and Dalhousie have been identified for installation of early warning system. Rampur and Mandi towns have been zeroed in for setting up the reliefand rescue base of National Disaster Response Force.

Note: Chief Minister of Himachal Pradesh- Jai Ram Thakur. Governor- Acharya Dev Vrat. Capital- Shimla.

3. NCERT organises National Yoga Olympiad of school children: National Council of Educational Research and Training organised 4th edition of National Yoga Olympiad of school children in New Delhi. The Olympiad was inaugurated by the Director and UNESCO Representative for India, Mr. Eric Falt. This year 567 students from 33 States/UTs participated in the Olympiad. The purpose of olympiad was to create positive attitude among all human beings and promote peaceful living together in the society.

Note: International Day of Yoga: 21st June

INTERNATIONAL UPDATES:

1. India extends $15 mn assistance to Niger for holding AU summit: India has extended USD 15 million assistance to Niger for organising the African Union (AU) summit scheduled to be held in Niamey early next month. The summit is scheduled to be held in Niamey from July 7-8. It will also be the first time that Niger is scheduled to host an AU summit. India is also establishing the Mahatma Gandhi International Convention Centre (MGICC) in Niamey under grant assistance.

Note: African Union (AU), international organization established in 2002 by the nations of the former Organization of African Unity (OAU). There are 54-member nations; the only African country that is not a member is Morocco. The AU's headquarters are at Addis Ababa, Ethiopia; Niger Capital- Niamey; Currency- CFA franc, West African CFA franc.

2. Bangladesh, South Korea state channels now on DD Free Dish: India has signed agreements with Bangladesh and South Korea for DD India to be telecasted on the state platforms of the respective countries. As per the agreement, BTV World, a channel owned by Bangladesh TV and KBS World, an English language of South Korea, will now be available on the state-owned DD Free Dish. 

Note: South Korea Capital- Seoul, Currency- South Korean won; Bangladesh Capital: Dhaka, Currency: Taka, PM: Sheikh Hasina.

3. WHO offers a new tool for action against antimicrobial resistance: WHO offers a new tool "AWaRe" to contain rising antimicrobial resistance and make antibiotic use safer and more effective.

AWaRe tool - The tool aimed at guiding policy-makers and health workers to use antibiotics safely and more effectively. It’s another objective is to limit drugs that are at risk of resistance. The tool, known as ‘AWaRe’, classifies antibiotics into three groups:

"Access" specifies which antibiotics to use for the most common and serious infections.

"Watch" specifies which ones should be available at all times in the healthcare system.

"Reserve" are those that must be used sparingly or preserved and used only as a last resort.

Note: The World Health Organization is a specialized agency of the United Nations (UN) that is concerned with international public health. It was established on 7 April 1948, headquartered in Geneva, Switzerland. Tedros Adhanom is working as a Director General of WHO since 2017. 

4. Mexico ratifies US-Mexico-Canada agreement: Mexico has ratified the US-Mexico-Canada agreement. This makes it the first country to give the new North American trade deal final approval despite recent tensions with the US. The Mexican government called the deal's passage a clear message in favour of an open economy and deepening economic integration in the region. Mexico President Andres Manuel Lopez Obrador claimed the deal would bring in more foreign investment and jobs in Mexico, and access to the US market. The deal aims to replace the North American Free Trade Agreement (NAFTA), which helped turn Mexico into an exporting powerhouse over the past 25 years.

Note: The North American Free Trade Agreement was implemented in 1994 to encourage trade between the United States, Mexico, and Canada. NAFTA’s purpose was to encourage economic activity among North America's three major economic powers. President Trump made a campaign promise to repeal NAFTA, and in August 2018, he announced a new trade deal with Mexico to replace it. In Sept. 2018, Canada joined the deal: the United States-Mexico-Canada Agreement (USMCA), which was signed on Nov. 30, 2018.

5. World Refugee Day: 20 June: World Refugee Day is celebrated around the world on 20th June to raise awareness about the precarious condition of refugees around the world who have been forced to leave their homes due to war, persecution and conflict. The theme for World Refugee Day 2019 is “Step with Refugees — Take A Step on World Refugee Day.” The theme focuses on that there is a need to take big and small steps in solidarity with refugees from around the world. According to the United Nation (UN) every minute, around 25 people have to leave everything in the search for a better and safer life.

Note: UN Headquarter: New York, USA; Founded: 24 October 1945. Mr Antonio Guterres of Portugal is the Secretary-General of the United Nations.

OTHER UPDATES:

SPORTS

1. Folksam Grand Prix: PU Chitra wins 1500m gold: Asian champion PU Chitra won the women's 1500m gold at the Folksam Grand Prix in Sollentuna, Sweden. She produced the best time of her season so far by clocking 4 minutes 12.65 seconds (4:12.65s). She is a gold medal winner in Asian Championships held in Doha, Qatar in April 2019. Asian Games gold medallist India’s Jinson Johnson won the silver in the men's 1500m clocking 3:39.69.

2. Archery Association of India de-listed by the world body: Archery's world body has de-listed the Archery Association of India (AAI) as a member and given it a month's time to either get its house in order or face suspension. World Archery (WA) said it will wait till 31st of next month before deciding on AAI's suspension. The WA will wait for the Supreme Court's verdict on the controversial elections of the AAI. The decision to de-list AAI will not prevent Indian archers from taking part in international events under the national flag in competitions for which entries have already been made.

BANKING AND FINANCE

1. Canara Bank updates rules for cash deposits of up to Rs 50,000: From July 1, Canara Bank customers can deposit cash of up to Rs 50,000 for free only thrice a month. From the fourth transaction or for cash deposits of over Rs 50,000, there will be a service charge of Rs 1 per thousand, with a minimum of Rs 50 and a maximum of Rs 5,000 plus GST.

Note: Canara Bank Chairman: T.N. Manoharan; Headquarters: Bengaluru; MD & CEO of Canara Bank: R.A. Sankara Narayanan

2. IndusInd Bank-Bharat Financial merger to be effective from July 4: IndusInd Bank and Bharat Financial Inclusion Ltd (BFIL) said their merger will be effective from July 4. The National Company Law Tribunal on June 10, 2019, approved the Scheme of Arrangement among BFIL, IndusInd Bank and Induslnd Financial Inclusion and their respective shareholders and creditors. IndusInd Bank in October last year decided to acquire the country's leading micro-finance player BFIL, which was previously known as SKS Microfinance.

Note: IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh. Headquarters- Mumbai, Maharashtra. CEO: Romesh Sobti

BUSINESS AND ECONOMY

1. At 9.8 GB per month, India has the highest data usage per smartphone: According to a new study by Swedish telecom equipment maker Ericsson, India has the highest average data usage per smartphone, reaching 9.8 GB per month at the end of 2018. The report also forecasts that this figure is likely to double to 18 GB per month per smartphone by 2024. The ‘Ericsson Mobility Report’ added that total smartphone subscriptions in the region are likely to reach 1.1 billion by 2024, growing at 11% CAGR. In 2018, mobile data traffic per smartphone per month stood at 7 GB for North America, 3.1 GB for Latin America, 6.7 GB for Western Europe, 4.5 GB for Central and Eastern Europe.

2. ICANN partners NASSCOM to develop tech, standards for IoT devices: Global internet body Internet Corporation for Assigned Names and Numbers (ICANN) and Indian IT industry body National Association of Software and Services Companies (Nasscom) collaborated to develop identifier technology to manage devices and infrastructure using internet. Under the collaboration, both the bodies will first focus on updating Internet of Things (IoT) devices using domain name system (DNS). The project team under the collaboration includes ICANN technical experts, NASSCOM's Centre of Excellence IOT team, IIT Hyderabad team and participants from India's Education and Research Network(ERNET).

Note: President of ICANN: Göran Marby; Chairman of NASSCOM: Rishad Premji

AWARDS AND HONOURS

1. Indian engineer wins Innovation Award in UK: Nitesh Kumar Jangir, an Indian engineer has won the 2019 Commonwealth Secretary General's Innovation for Sustainable Development Award in the “People” category in London. Nitesh Kumar Jangir created Saans, a breathing support device to tackle avoidable deaths of premature babies from respiratory distress syndrome.

Daily GK Updates : 7th January, 2019

         NATIONAL UPDATES:

1.WCD minister Maneka Gandhi confers National Anganwadi Awards : The Union Women and Child Development Minister Maneka Gandhi has conferred National Awards to 97 Anganwadi workers for their exceptional achievements for the year 2017-18 in New Delhi.The award is given to motivate the Anganwadi workers and recognize their exemplary services in the field of child development and related areas under the Integrated Child Development Services Scheme.The annual award was given in two levels .From this year, the cash prize of the national level has been increased from Rs. 25,000 to Rs. 50,000.State level award comprises of a cash prize of 10,000 rupees .

2.Vice President gives away Textiles Awards : The Vice President M Venkaiah Naidu has given Textiles Awards to Seventeen persons for their outstanding contribution in different fields of textiles sector in New Delhi.Mr Naidu also stressed on improving the quality of products to become competitive in international markets and called upon the textiles industry to create brand for Indian textiles products.Earlier in the day, the national conclave was inaugurated by the Union Textiles Minister, Smriti Zubin Irani.He also presented commemorative stamps on GI registered handicrafts.For the first time, The Textiles Ministry is giving awards to people who have made a significant contribution to the textiles sector.

3. NCR launches a mobile app to help people navigate through Prayagraj city during Kumbh Mela : The North Central Railway (NCR) has launched a mobile application 'Rail Kumbh Seva Mobile App' to help people navigate through Prayagraj city during Kumbh Mela (from 15 th January).It will also provide information regarding all the 'Mela special' trains that will be run during the period.The app will provide a link to the user to buy both unreserved and reserved train tickets.Through this app, the users will not only get to know their current location but will also be able to reach to all railway stations, the mela zone, major hotels, bus stations and other facilities within Prayagraj.

INTERNATIONAL UPDATES:

1.Bohemian Rhapsody’ wins Golden Globe 2019 for best motion picture drama :Bohemian Rhapsody and its lead star Rami Malek were declared as the Best Motion Picture (Drama) and theBest Actor, respectively in the 76th Golden Globe Awards 2019.Bohemian Rhapsody is a 2018 biographical film about the British rock band Queen .Green Book won the most awards for the ceremony with three, including Best Motion Picture – Musical or Comedy .Jeff Bridges was honoured with the Cecil B. DeMille Award for career achievement.

2.Norwegian Prime Minister arrives in New Delhi : Prime Minister of Norway Erna Solberg has arrived in New Delhi on a three-day state visit to India.She will hold talks with Prime Minister Narendra Modi , President Ram Nath Kovind and Vice President M Venkaiah Naidu.The Norwegian Prime Minister will participate in the Indo-Norwegian Business Conference.The visit of the Prime Minister of Norway will provide an opportunity to review the progress in bilateral cooperation between the two countries.India and Norway enjoy close & multifaceted ties and economic, technical cooperation are important facets of the bilateral relation.

3.Sheikh Hasina takes oath as PM of Bangladesh : Awami League President Sheikh Hasina (71-years) took oath as Prime Minister of Bangladesh for the third consecutive term.President Mohammad Abdul Hamid has administered the oath of office to the Ministers at Bangabhaban.Recently, Awami League and its allies secured 288 seats (Awami League -266 seats & Jatiya Party-21 ) out of elections held for 299-member Parliament.The opposition N ational Unity Front (UNF) with BNP being its key partner got only seven seats and Independent candidates won in two seats.

               OTHER UPDATES:

BUSINESS/ECONOMY :

1.Govt allocates Rs 10,900 cr for development of 40 satellite launch vehicles in next 4-years : According to the Indian Space Research Organisation (ISRO) Chairman Dr K Sivan , the Union Government has allocated 10,900 crore rupees for the development of 40 satellite launch vehicles in the next four years.Chandrayan Mission will be launched within three months.It will land in one part of the Moon which is still unexplored.The human space flight Gaganyaan is planned to be launched by 2022 (the 75th anniversary of Independence).

BANKING/FINANCE :

1.Direct Tax Collections for F.Y. 2018-19 up to December 2018 : According to the provisional figures of Direct Tax collections 2018 , The gross collections are at Rs. 8.74 lakh crore which is 14.1% higher than the gross collections for the corresponding period of last year.Refunds amounting to Rs.1.30 lakh crore have been issued during April to December 2018, (17.0% higher) than refunds issued during the same period in the preceding year.Net collections (after adjusting for refunds) have increased by 13.6% to Rs. 7.43 lakh crore during April - December 2018.The net Direct Tax collections represent 64.7% of the total Budget Estimates of Direct Taxes for F.Y. 2018-19 (Rs. 11.50 lakh crore).So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) is concerned, the growth rate of gross collections for CIT is 14.8% while that for PIT (including STT) is 17.2%.

SPORTS:

1.Head Constable Rani wins gold medal in Senior National's Judo C'Ship : Lady head constable Rani of 5th Indian Reserve Battalion of Himachal Pradesh Police has won the Gold medal in the Senior National Women's Judo Championship at Visakhapatnam.She claimed top honours in the 78 kg category .Rani was also declared the best Judoka at the Championship.

2.India win their maiden series in Australia : India has won the first ever series (ending a 71-year wait) on Australian soil beating the home team 2-1 after the fourth and final Test ended in a draw due to inclement weather . India scored 622 for 7 in their first innings and then bowled out Australia for 300 thereby enforcing the follow-on.However persistent drizzle washed out day five thereby keeping the victory margin down to 2-1 and retained the Border-Gavaskar Trophy with the series win.It is the first time India managed the feat since they began touring Australia in 1947-48 .Now, Virat Kohli has become the first Indian as well as the first Asian captain to win a Test series in Australia.