Daily GK Update- 7th Mar, 2022

 

NATIONAL UPDATES:

 

1. India’s first FSRU Hoegh Giant Arrives at Jaigarh Terminal 2022: H-Jaigarh Energy’s Terminal in Maharashtra has received India’s first floating storage and regasification unit (FSRU). On April 12, 2021, the FSRU Höegh Giant arrived at Jaigarh Terminal in Maharashtra after sailing from Keppel Shipyard in Singapore. This will be India’s first FSRU-based LNG receiving terminal, as well as Maharashtra’s first year-around LNG facility.

Key Points:

a)      The Höegh Giant, which was erected in 2017, has a storage capacity of 1,70,000 cubic metres and a regasification capacity of 750 million cubic feet per day (equivalent to about six million tpa). FSRU has been chartered for a 10-year period by H-Energy.

b)      The Höegh Giant LNG terminal will be connected to the national gas grid via the 56-kilometer Jaigarh-Dabhol natural gas pipeline.

c)       The facility will also deliver LNG to onshore distribution via truck loading facilities. Reloading LNG into small-scale LNG vessels for bunkering services is also possible at the plant

d)      H-Energy also plans to boost the region’s small-scale LNG market, utilising FSRU for LNG storage and reloading into smaller boats.

LNG Terminal: The LNG terminal was built by H-Energy to world-class technical and safety standards. The LNG terminal is located in JSW Jaigarh Port in Maharashtra’s Ratnagiri district. The port is Maharashtra’s first deep-water private port that is open 24 hours a day, seven days a week.

 

2. IIT Madras and NIOT conduct OCEANS 2022 for the first time: Indian Institute of Technology (IIT) Madras and National Institute of Ocean Technology (NIOT), Chennai, are jointly conducted OCEANS 2022 Conference and Exposition, the bi-annual event for global marine researchers, technologists and engineers, students, and policymakers. It is being in India for the first time and coordinated by the Department of Ocean Engineering, IIT Madras, on behalf of the Institution of Electrical and Electronics Engineering Ocean Engineering Society (IEEE OES) and Marine Technology Society (MTS). The conference is being held in a hybrid model.

‘Inspire-Innovate-Sustain’ is the main theme of the conference. The delegates will be sharing their experiences on topics related to climate change, global warming, vagaries of weather, combating coastal erosion, marine pollution and microplastics through nearly 400 presentations.

 

3. India’s largest EV charging station for 4 wheelers opens in Sector 86 of Gurugram: India’s largest electric vehicle (EV) charging station for 4 wheelers has been launched in Sector 86 of Gurugram, in Haryana. The new EV charging stations comes with a capacity of 121 charging points for 4 wheelers and can charge 1,000 cars in a single day. Gurugram now has two of largest electric vehicle charging stations across the country. The first EV station was opened in in Sector 52 in January 2022, which has a capacity of 100 charging points for 4 wheelers.

 

4. Jan Aushadhi Diwas: 7th March: The Jan Aushadhi Diwas is celebrated on 7 March 2022 by the Pharmaceuticals & Medical Devices Bureau of India (PMBI). The day is observed to spread awareness about the usages of generic medicines and the benefits of Jan Aushadhi Pariyojana. The theme of the 4 Janaushadhi Diwas is “Jan Aushadhi-Jan Upyogi”.

On this occasion, Doctors, Health Workers, Nurses, Pharmacists, and Jan Aushadhi Mitra will discuss the Jan Aushadhi Pariyojana. The government has set a target to increase the number of Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) to 10,500 by March 2025.

 

5. Jet Airways named Sanjiv Kapoor as CEO 2022: Sanjiv Kapoor has been appointed as the new Chief Executive Officer (CEO) of Jet Airways. Prior to this, Kapoor was the president of Oberoi Hotels and has also worked as a chief operating officer at SpiceJet and chief strategy and commercial officer at Vistara. He has worked as the Chief Strategy and Commercial Officer of Vistara Airlines for three years, and Chief Operating Officer of SpiceJet for two years. The Jalan Kalrock Consortium is the new promoter of Jet Airways.

Note: Jet Airways CEO: Vinay Dube; Jet Airways Founder: Naresh Goyal; Jet Airways Founded: 1 April 1992, Mumbai.

 

INTERNATIONAL UPDATES:

 

1. SWISS to Become World’s First Airlines to Use Solar Aviation fuel: Swiss International Air Lines AG (SWISS or Swiss Air Lines) and its parent company, Lufthansa Group have partnered with Switzerland based solar fuels start-up, Synhelion SA (Synhelion) to use its solar aviation fuel. Swiss International Airlines will become the first airline to use solar aviation fuel (“sun-to-liquid” fuel) to help power its flights. SWISS will become the first customer of solar kerosene in 2023. For this, Synhelion has developed a technology for manufacturing sustainable aviation fuel (SAF) from renewable energy sources. When combusted solar fuel will only produce as much CO2 as went into its manufacture, cutting aviation emissions. Synhelion is set to build the world’s first facility to industrially produce solar fuel in Jülich, Germany. The plant will become operational from 2022 onwards.

Note: Swiss International Air Lines AG Headquarters: Basel, Switzerland; Swiss International Air Lines AG Founded: 1 April 2002; Swiss International Air Lines AG Chairman: Reto Francioni; Swiss International Air Lines AG CEO: Dieter Vranckx.

 

2. MEA Unveils Special Logo for 75 Years of Indo-Dutch Diplomatic Relation: The 75th anniversary of the establishment of diplomatic relations between India and the Netherlands is being commemorated this year. Sanjay Verma, Secretary (West) in the Ministry of External Affairs, and Marten van den Berg, Ambassador of the Kingdom of the Netherlands to India, launched a joint logo on March 2, 2022, to commemorate the occasion.

Key Points:

a)      The logo features the national flowers of both the countries, the lotus and the tulip. The chakra in the heart of the logo represents our friendship, and the flag colours emphasise the ties that exist between Indians and Dutch people.

b)      Throughout the year, a variety of events and activities in a variety of sectors of cooperation, including water, agriculture, innovation, energy, climate, and culture, are planned to commemorate the 75th anniversary.

c)       The Netherlands gifted 3000 fresh tulips to India as a symbol of goodwill for Azadi Ka Amrit Mahotsav, which were planted in the Jawaharlal Nehru Bhawan gardens.

Commercial and Trade Relations

a)      Trade and commercial collaboration are at the heart of the two countries bilateral ties. With USD 6.5 billion in FDI inflows in FY 2019-20, the Netherlands was the third-largest investor in India, after Mauritius and Singapore. Dutch investments in India totalled USD 36.28 billion between April 2000 and December 2020, putting them in fourth place.

b)      The Netherlands received USD 1.23 billion in offshore direct investment (ODI) from India in FY 2019-20, making it the fourth most popular destination for ODI from India.

c)       Bilateral trade was valued at US$6.55 billion in the fiscal year 2020-21 (April-December), with Indian exports to the Netherlands being US$4.33 billion and Indian imports from the Netherlands totalling US$ 2.22 billion.

d)      In India, there are about 200 Dutch enterprises. In addition, the Netherlands has around 200 Indian companies, including all of the main IT firms.

 

OTHER UPDATES:

 

SPORTS

 

1. BCCI named RuPay as the official partner for Tata IPL 2022: Board of Control for Cricket in India (BCCI)’s, Indian Premier League (IPL) Governing Council has announced National Payments Corporation of India (NPCI)‘s flagship product RuPay as an official partner for the Tata IPL 2022. This will be a multi-year partnership. RuPay offers tech-led, innovative, and customized offerings to people across India, being accepted in India and internationally.

Tata IPL 2022 will be co-presented by Dream11 and co-powered by Tata and CRED. Swiggy, Prystin Care, Zepto, Livspace, L’Oreal, and Spinny have been signed-on as associate sponsors.

The 15th edition of Tata IPL 2022 will start on 26th March 2022. A total of 70 league matches will be played across four international venues in Mumbai and Pune. The venue for the playoff matches will be decided later.

Note: BCCI Founded: 1928; BCCI Headquarters: Mumbai, Maharashtra, India; BCCI President: Sourav Ganguly; BCCI Vice president: Rajeev Shukla; BCCI Secretary: Jay Shah; BCCI Men’s coach: Rahul Dravid; BCCI Women’s coach: Ramesh Powar.

 

BANKING AND FINANCE

 

1. UPI transactions value dips 2022: According to the data from the National Payments Corporation of India, India’s cashless retail transactions on the UPI platform were Rs 8.27 lakh crore in February, a little decrease from the previous month’s total (NPCI). In February 2022, there were 452 crores (4.52 billions) in transactions.

Key Points:

a)      The overall value of cashless retail transactions on the BHIM UPI network stood at Rs 8.32 lakh crore in January, with 461 crore transactions (4.61 billion).

b)      According to NPCI, the value of the automatic collection at toll plazas utilising the NETC FASTag technology increased slightly in February, with over 24.36 crore transactions (243.64 million) worth Rs 3,631.22 crore.

c)       NETC FASTag toll collections were valued at Rs 3,603.71 crore by way of 23.10 crore (231.01 million) transactions in the previous month.

d)      Instant money can be transferred through 24×7 IMPS that is Immediate Payment Service fell to Rs 3.84 lakh crore in February as against Rs 3.87 lakh crore in January. During the same period, the number of such transactions is at 42 crores (420.93 million) as compared against 44 crores (440.17 million), as per the data.

 

BUSINESS AND ECONOMY

 

1. HPCL signed MoU with Solar Energy Corporation of India: A Memorandum of Understanding (MoU) was signed in New Delhi between Hindustan Petroleum Corporation Limited (HPCL) and Solar Energy Corporation of India Limited (SECI) to accomplish green energy targets and the Government of India’s efforts towards a carbon-neutral economy.

Key Points:

a)      Shuvendu Gupta who is the Chief General Manager of HPCL for Biofuels and Renewables, and Sanjay Sharma who Executive Director of SECI, signed the MoU.

b)      The Memorandum of Understanding envisions cooperation and collaboration in the fields of renewable energy, electric mobility, and alternative fuels, as well as the development of ESG Projects.

c)       HPCL plans to diversify further in the RE and Electric Mobility sectors, as well as pursue the development of ESG projects, in order to meet the Government of India’s target to increase the RE capacity and accelerate the adoption of electric mobility in India.

Solar Energy Corporation of India: SECI, the Solar Energy Corporation of India Limited, has been in the forefront of RE capacity development and is credited with bringing the country’s lowest RE tariffs. SECI promotes and develops a variety of renewable energy resources, including solar/wind energy, RE-based storage systems, waste to energy, power trading, R&D projects, and RE base goods such as green hydrogen, green ammonia, and RE-powered electric vehicles, among others.

 

AWARDS AND HONOURS

 

1. NMCG awarded ‘Special Jury Award’ for Ganga rejuvenation: National Mission for Clean Ganga (NMCG) has been awarded the ‘Special Jury Award’ at the 7th India Industry Water Conclave and the 9th edition of the FICCI Water Awards. NMCG has been awarded for its effort in reviving River Ganga and bringing about a paradigm shift in water management. The 9th edition of the FICCI Water Awards were organised at the FICCI’s 7th India Industry Water Conclave, held virtually on March 02 and 03, 2022.

The Citation underlines the complexity of the task of rejuvenation of the entire Ganga basin and the importance of engaging with diverse stakeholders particularly the people-river connect which forms the basis of NMCG’s approach to the challenging task. G Asok Kumar was appointed as the new Director-General of the National Mission for Clean Ganga (NMCG).

 

OBITUARIES

 

1. Former Indian Army Chief General S F Rodrigues passes away: General S F Rodrigues, who had served as Chief of the Indian Army from 1990 to 1993 passes away at the age of 88 years. General Sunith Francis Rodrigues was also the Governor of Punjab from 2004 to 2010. He had served two terms on the National Security Advisory Board. Since his retirement, he has been engaged in social and literary pursuits and has also delivered numerous talks on strategic issues. The nation and the Indian Army will always be indebted to his invaluable contribution and service to the nation.

 

2. Australian cricketer Shane Warne passes away: Australian cricketer Shane Warne has passed away at the age of 52 years due to a suspected heart attack in Thailand. He was a leg spinner. In 2013, he was inducted into the ICC Hall of Fame. He is regarded as the greatest spinner of cricket and has played 145 Tests for Australia and has 708 wickets.

 

3. Oscar-winning producer Alan Walbridge Ladd Jr passes away: The Oscar-winning producer, Former Executive at Twentieth Century Fox, who greenlit ‘Star Wars’ and ‘Braveheart’, Alan Ladd Junior has passed away at the age of 84 years. He was affectionately known as “Laddie”. He won the Academy Award (Oscar award) for Best Picture ‘Braveheart’ directed by Mel Gibson in 1995. He was one of the founders of the Ladd Company, established in 1979.

Daily GK Update- 5th Mar, 2022

 

NATIONAL UPDATES:

 

1. MoWCD launches ‘Stree Manoraksha’ Project: The Ministry of Women and Child Development (MoWCD) and NIMHANS Bengaluru launched the ‘Stree Manoraksha Project’ on Wednesday with the goal of improving women’s mental health in India. The project would concentrate on increasing the ability of OSC (One-Stop Center) off1icials in terms of tools and procedures for dealing with women who come to One-Stop Centers, particularly those who have experienced violence and distress, with compassion and care.

Key Points:

a)      One-Stop Center performed admirably during the COVID time. There are already over 700 One-Stop Centers operating across the country.

b)      People who work in these one-stop shops will be taught how to appropriately operate the Self Defense Shaheed Women Helpline and counsel them.

c)       The advanced training programme will be delivered in all of the regional languages that they want to be able to comprehend. NIMHANS has also built a website dedicated to this, which contains a wealth of information on training.

Implementation:

a)      The project, which has been painstakingly described by NIMHANS based on the Ministry’s expected requirements, will be delivered in two formats.

b)      All OSC functionaries, including security guards, cooks, helpers, caseworkers, counsellors, centre administrators, paramedical staff, and others, will receive basic training in one format.

c)       The second format will emphasise the advanced course, which will focus on various components such as multi-generational implications and lifetime trauma in cases of violence against women as well as professional principles in counselling.

 

2. Google and MeitY to train 100 Indian startups under Appscale Academy programme: The MeitY Startup Hub, an initiative of the Ministry of Electronics and Information Technology (MeitY), and Google have announced a cohort of 100 early to mid-stage Indian startups as a part of Appscale Academy programme. Appscale Academy is a new growth and development programme for startups launched by MeitY and Google to help and train early- to mid-stage startups across India on building high-quality apps and games for a global audience.

About the programme:

a)      These 100 startups were chosen from over 400 applications following an in-depth selection process.

b)      Under the six-month Appscale Academy programme, the 100 startups will be trained through a customised curriculum which includes virtual instructor-led webinars, self-learning material, and mentorship sessions with local and global industry professionals.

Note: Minister of Electronics and Information Technology: Ashwini Vaishnaw;

Google CEO: Sundar Pichai; Google Founded: 4 September 1998; Google Headquarters: Mountain View, California, United States.

 

3. Ujjain creates Guinness Record by Lighting 11.71 Lakh Diyas: Ujjain in Madhya Pradesh has created a Guinness record by lighting 11.71 lakh clay lamps (diyas) in 10 minutes. The diyas were lighted as part of the ‘Shiv Jyoti Arpanam Mahotsava’ on the occasion of Mahashivratri. With this they broke the earlier record of lighting 9.41 lakh diyas created in Ayodhya, Uttar Pradesh on 03 November 2021. Ujjain is also known as the ‘Land of Mahakal’. The certificate was received by Madhya Pradesh chief minister Shivraj Singh Chouhan.

It was a zero-waste programme. The clay from the lamps will be used to prepare idols, while the oil left in the lamps will be offered to gaushalas. The plastic used for the I-cards will be used to make chairs and other items for public gardens.

Note: Madhya Pradesh Capital: Bhopal; Madhya Pradesh Governor: Mangubhai C. Patel; Madhya Pradesh Chief Minister: Shivraj Singh Chouhan.

 

4. Herath Festival celebrated in Jammu and Kashmir: Herath or the ‘Night of Hara (Shiva)’, generally known as Maha Shivratri, is the main festival celebrated by the Kashmiri Pandits across Jammu and Kashmir (J&K). The festival marks the marriage anniversary of Lord Shiva and Goddess Uma (Parvathi). 2022 Herath Festival was celebrated on 28th February 2022.

About the festival: Herath Festival is celebrated on “Trayodashi” or the 13th day of the dark half of the month of Phalguna (Hindu calendar), between February and March. The Kashmiri Pandits celebrate the festival by distributing walnuts as a mark of respect to the Hindu deities. The rest of the nation celebrates the Maha Shivratri on Chaturdashi or the 14th of Phalguna.

 

5. Akshaye Widhani named as Chief Executive Officer of Yash Raj Films: Film production and distribution company Yash Raj Films (YRF) has named Akshaye Widhani as chief executive officer. Widhani was serving as senior vice-president, finance and business Affairs and head of operations at YRF Studios. He used to head corporate and business development activities for YRF, including finance, business extensions, strategic alliances, joint ventures, co-productions.

History of Yash Raj Films: Yash Raj Films is one of India’s biggest film production houses. Aditya Chopra is the Chairman and MD of Yash Raj Films. Yash Raj Films was founded by Yash Raj Chopra, in the year 1970.

 

INTERNATIONAL UPDATES:

 

1. China’s Long March-8 Rocket Launches 22 Satellites into Space: China’s second Long March 8 rocket launched carrying a domestic record 22 satellites for a range of commercial Chinese space companies. The Long March 8 lifted off from Wenchang Satellite Launch Center at 10:06 p.m. Eastern Feb. 26, with the China Aerospace Science and Technology Corporation (CASC) later confirming launch success.

These satellites will be mainly used for commercial remote sensing services, marine environment monitoring, forest fire prevention and disaster mitigation. The mission marked the 409th flight of the Long March carrier rockets.

Note: China Capital: Beijing; China Currency: Renminbi; China President: Xi Jinping.

 

2. NASA launches next-generation GOES-T satellite to track hazardous weather: US space agency, NASA, successfully launched the third in a series of four next-generation weather satellites, Geostationary Operational Environmental Satellite (GOES), from Cape Canaveral Space Force Station, Florida. The satellite is named as GOES-T. Once the satellite gets positioned in its geostationary orbit it will be renamed from GOES-T to GOES-18. GOES-T will be used by the National Oceanic and Atmospheric Administration (NOAA) to forecast weather and hazardous environmental conditions in the Western Hemisphere.

Note: NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

NOAA Headquarters: Washington, D.C., United States; NOAA Founder: Richard Nixon; NOAA Founded: 3 October 1970

 

OTHER UPDATES:

 

SPORTS

 

1. Strandja Memorial Boxing Tournament: Nikhat Zareen & Nitu wins gold for India: Indian boxers Nikhat Zareen (52kg) and Nitu (48kg) has won gold medals at the 73rd Strandja Memorial Boxing Tournament, held in Sofia, Bulgaria. The Indian contingent ended their campaign at the tournament with three medals including two golds and one bronze.

a)      Nikhat Zareen: Nikhat bagged her second gold medal at Europe’s oldest international boxing tournament with a 4-1 win in the women’s 52kg final. She had previously won the Strandja Memorial title in 2019.

b)      Nitu: Nitu outpunched the reigning Youth World Championships bronze medallist Italy’s Erika Prisciandro 5-0 without breaking a sweat in the women’s 48 kg final.

c)       Nandini: With Nandini also finishing on the podium in the 81kg category and signing off with a bronze medal, the Indian contingent concluded their campaign with three medals at the tournament, which was part of India’s first exposure trip this year.

 

2. Indian shooter Saurabh Chaudhary wins 10m air pistol gold at ISSF World Cup: Indian shooter, Saurabh Chaudhary has won the gold medal in Men’s 10m Air Pistol event at the ongoing 2022 International Shooting Sport Federation (ISSF) World Cup in Cairo, Egypt. The silver medal has been won by Germany’s Michael Schwald while Artem Chernousov of Russia claimed the bronze medal.

In the women’s 10m air pistol section, India’s Esha Singh lost to Anna Korakaki of Greece to win the silver medal. Esha, who had shot better than Anna in the semifinal stage, pushed Tokyo Olympics silver medallist Antoaneta Kostadinova to the bronze.

 

BANKING AND FINANCE

 

1. RBI cancelled licence of Sarjeraodada Naik Shirala Sahakari Bank: Reserve Bank of India has cancelled the license of Sarjeraodada Naik Shirala Sahakari Bank, Sangli, Maharashtra, as it did not have adequate capital and earning prospects. With the cancellation of the licence, Sarjeraodada Naik Shirala Sahakari Bank Ltd has ceased to carry on banking business with effect from the close of business hours on 2 March. The bank is not complying with various sections of the Banking Regulation Act, 1949.

On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).

Note: DICGC Chairperson: Michael Patra; DICGC Founded: 15 July 1978; DICGC Headquarters: Mumbai.

 

BUSINESS AND ECONOMY

 

1. Ashneer Grover resigned from BharatPe as MD & Director 2022: Ashneer Grover, co-founder and Managing Director (MD) of BharatPe, a leading Indian fintech company, has resigned as the MD and director of the board of BharatPe. Ashneer Grover, who owns a 9.5% stake worth Rs 1915 crore in BharatPe, will continue as the single largest individual shareholder of the company. BharatPe became the 19th Indian startup to become a unicorn in 2021.

Shashwat Nakrani, the co-founder of BharatPe, owns 7.8% and Sequoia Capital India, a venture capital (VC) investor and the largest shareholder of BharatPe, holds 19.6%, followed by Coatue at 12.4% and Ribbit Capital at 11%. As of August 2021, Tiger Global, Steadview Capital, and Beenext together hold a 60.4% stake in BharatPe.

 

2. Adani Green gets LOA for setting-up 150 MW solar power plant: Adani Green Energy Ltd stated that its subsidiary Adani Renewable Energy Holding Fifteen Limited has obtained a letter of award (LOA) to build a 150-megawatt solar power plant. For a period of 25 years, the fixed rate for this project capacity is $2.34/kWh.

Important Points:

a)      According to a statement issued by the Adani Group company said in a stock exchange filing, Adani Renewable Energy Holding Fifteen Limited, a Wholly-owned Subsidiary of Adani Green Energy Limited, participated in a Tender which was issued by the Punjab State Power Corporation Limited for the acquisition of 250 MW Solar Power from ground-mounted grid-connected solar PV power plants and has received the Letter of Award for setting up a 150 MW Solar Power Project.

b)      Adani Green presently has a totally renewable energy project portfolio of 20.434 MWac capacity, with 5.410 MWac of operational projects. According to the firm, 11,591 MWac projects are now under construction, with 3.433 MWac projects nearing completion.

c)       Adani Green Energy Limited is an Indian renewable energy firm headquartered in Ahmedabad, Gujarat, and is part of the Adani Group. In a year, Adani Green Energy shares have returned over 61 per cent, while the company has surged more than 36 per cent in 2022 (year-to-date or YTD) thus far, compared to a 5% drop in the benchmark BSE Sensex.

 

AWARDS AND HONOURS

 

1. MoS Annpurna Devi gives National ICT Award 2020 & 2021: Smt Annpurna Devi, who is the union MoS for Education has given National ICT Awards to 49 teachers from all over the country. In her speech on this event, she told that the NEP-2020 emphasizes on the efficient use of technology in the field of teaching, which will remove the language barriers and increase access for DIVYANG students.

KEY POINTS (Speech OF MoS for Education)

a)      The Information and Communication Technology [ICT] intervention under Samagra Shiksha also has inclusions to provide technological upgradations to schools and Teacher Education Institutes (TEIs).

b)      DIKSHA, school MOOCs on SWAYAM, PMeVIDYA, ePathshala, ICT Curriculum for Teachers and Students and National Initiative for School Heads’ and Teachers’ Holistic Advancement integrated teacher training programme through online mode are among the flagship projects to bridge the digital divide.

c)       The role of teachers in nation-building is appreciable and a Guru (teacher) is given the most respectful person in Indian Society.

d)      The recent budget announcements by the Govt. of India have provided the impetus to each and every digital education initiative.

Daily GK Update- 4th Mar, 2022

 

NATIONAL UPDATES:

 

1. Assam government declared the entire state as a “Disturbed Area 2022: The Assam government has extended the contentious Armed Forces (Special Powers) Act, 1958 (AFSPA) in the state for six more months. The notification came into effect from February 28. Initially, it was the Assam Disturbed Area Act of 1955 during the agitation by Nagas in undivided Assam. This Act gave freehand to some extent to the Army that was repealed with the incorporation of the Armed Forces (Special Power) Act, 1958. AFSPA was imposed in Assam in November 1990 and has been extended every six months since then after a review by the government.

About the AFSPA: AFSPA, which gives sweeping powers to the security forces to maintain public order in ‘disturbed areas’, has been a contentious issue in the north-east states. Civil society members and activists have claimed that AFSPA gives security personnel a free hand to carry out excesses.

Note: Assam Capital: Dispur; Assam Chief Minister: Himanta Biswa Sarma; Assam Governor: Jagadish Mukhi.

 

2. GoI think tank, Niti Aayog developing National Gender Index: NITI Aayog is in the process to develop a National Gender Index. The objective of the National Gender Index is to measure the progress and identify the persisting gaps in gender equality to make informed policy decisions. It will serve as a tool to map the progress of India’s States and UTs on defined gender metrics and build the foundation for positive change. The information was released in the Annual Report 2021-22 of NITI Aayog.

Niti Aayog has also developed a draft State Energy and Climate Index to assess the performance of states on indicators such as discoms’ viability and competition; access, affordability and reliability of energy; clean energy initiatives; energy efficiency; generation capacity; and environmental sustainability and new initiatives. The index will help states to efficiently manage their energy resources and provide better access to energy to the people.

 

3. Anup Jalota released book “Udaan Ek Majdoor Bachhe Ki” authored by Mithilesh Tiwari: Bhajan Samrat Anup Jalota has released the book “Udaan Ek Majdoor Bachhe Ki” by Captain AD Manek in a glittering program organized by Shailesh B Tiwari of P Club Education Pvt Ltd in Mumbai. The author of this book is Mithilesh Tiwari. This book is about the life journey of Captain AD Manek, how he travelled from zero to pinnacle in his career graph.

The family of Captain AD Manek is also known as the Flying Family of India. His wife is a hobby flyer while his two sons are professional pilots. One daughter-in-law is the air hostess and the other daughter-in-law is the aircraft dispatcher. All 6 members of this family are serving in the Indian Aviation Industry.

 

4. Tamil Nadu chief minister MK Stalin’s autobiography “Ungalil Oruvan” launched: Congress leader Rahul Gandhi launched the first volume of Tamil Nadu chief minister MK Stalin’s autobiography Ungalil Oruvan (One Among You) in Chennai. The first part of the autobiography contains his early life experiences. In it, he traces his school and college days, adolescence, early political contributions, marital life and the MISA struggle, recalling 23 years up to 1976.

 

5. National Security Day: 4th of March: In India, March 4 is celebrated as National Security Day (Rashtriya Suraksha Diwas) every year, in the honor of the Indian Security Forces. The day aims to show gratitude to all the security forces, including policemen, para-military forces, commandos, guards, army officers, and other persons involved in security, who sacrifice their life in maintaining the peace and security of the people of the country. Apart from this, National Security Week 2022 is being celebrated from March 4 to March 10, 2022.

History of the day: 4 March also marks the day when the National Security Council (NSC) of India was established, in 1966 by the Ministry of Labour under the Government of India. The first National Security Day (NSD) was held in 1972.

Note: National Security Council of India Founded: 19 November 1998; National Security Council of India head:  Ajit Kumar Doval.

 

6. National Safety Day: 4th of March: The National Safety Day (NSD) is celebrated every year on the 4th of March to commemorate the foundation of the National Safety Council (NSC) of India. The day aims to raise public awareness of all safety principles, including road safety, workplace safety, human health safety, and environmental safety. The year 2022 marks 51st NSD. Every year, this day is celebrated with a different theme. This year, the National Safety Council of India announced the theme to be ‘Nurture young minds – Develop safety culture’.

Significance of the day: It is critical to observe National Safety Day in order to ensure adequate workplace wellbeing. The development of a proactive attitude toward safety, as well as methods for identifying workplace dangers and reducing accidents and exposure to hazardous circumstances and substances, is critical to every employee’s job satisfaction.

History of the day: The first National Safety Day was observed in 1972. The National Safety Council was set up on 4th March 1966 by the Ministry of Labour and Employment, to develop and implement a voluntary routine in the areas of safety, health, and the environment.

 

INTERNATIONAL UPDATES:

 

1. US, EU, UK decided to eliminate selected Russian banks from SWIFT: Canada, U.S.A. and their European allies have come to a conclusion to remove the key Russian banks from the Interbank messaging system (IMS) of SWIFT. This is a very big step that will cut off the country from much of the worldwide financial system.

KEY POINTS:

a)      The major global powers issued a joint statement announcing this significant retaliatory measure. It said, “This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally”.

b)      Russia’s removal from SWIFT (Society for Worldwide Interbank Financial Telecommunication) will mean that the Russian banks will not be able to communicate securely with foreign banks.

c)       Previously, Iran has been removed from SWIFT in 2014 following developments to its nuclear program in Tehran.

d)      The announcement will follow several rounds of joint sanctions that will be imposed on Russia for its unprovoked attack on Ukraine.

e)      After this announcement from the Major global powers backed SWIFT, Denys Shmyhal, who is the Prime Minister of Ukraine, praised the measure in a tweet he wrote, “Appreciate your support and real help in this dark time. Ukrainian people will never forget this! Keep holding the line! We are on our land.”

f)        In addition to this statement, the U.S.A. and its allies announced that they will impose restrictive measures to prevent the central bank of Russia from deploying its international reserves in ways that may undermine the sanctions imposed on them.

SWIFT: SWIFT stands for Society for Worldwide Interbank Financial Telecommunications and is an independent enterprise, which is based in Belgium. SWIFT serves as an internal communication mechanism between around 11,000 banks and financial institutions for more than 200 countries and territories.

 

2. IOC Withdraws Top Olympic Honour From Vladimir Putin: The International Olympic Committee has stripped Russian President Vladimir Putin of the Olympic Order award in response to the invasion of Ukraine. International Olympic Committee urged sports federations and organisers to exclude Russian and Belarusian athletes and officials from international events following Russia’s invasion of Ukraine.

Russia’s participation in the World Cup play-offs next month is also in doubt after FIFA plans to allow them to play on neutral territory were dismissed as “unacceptable” by rivals. The IOC last week urged all international sports federations to cancel forthcoming events in Russia, angry at Moscow violating an “Olympic Truce” with its attack on Ukraine.

Note: International Olympic CommitteeHeadquarters: Lausanne, Switzerland; International Olympic Committee President: Thomas Bach; International Olympic Committee Founded: 23 June 1894, Paris, France.

 

3. World Obesity Day: 4th March: World Obesity Day is observed every year on March 04. It is observed to spread awareness about obesity and encourage action towards its elimination. The day is organised by the World Obesity Federation, a non-profit body that is in official relations with the World Health Organisation. The theme of World Obesity Day 2022 is ‘Everybody Needs to Act’. The campaign aims to improve the world’s understanding, prevention and treatment of obesity.

World Obesity Day Significance: Obesity is one of the biggest health crises in the world, affecting 800 million people with millions more at risk, according to worldobesity.org. To spread awareness about the same and encourage action towards its elimination.

World Obesity Day History: World Obesity Day goes way back to the year 2015, wherein a non-profit organization worked closely with World Health Organisation and Lancet Commission in helping spread awareness. Later in 2016, the focus was shifted to childhood obesity, while later in 2017, the idea was to treat obesity now and avoid consequences later.

 

OTHER UPDATES:

 

SPORTS

 

1. 31st Southeast Asian Games to be held in Vietnam: The 31st Southeast Asian Games will be held in Vietnam from May 12 to 23, 2022. It is the biggest sporting event of Southeast Asia and is a biennial event. The event was originally scheduled to take place in November 2021 however it was postponed due to the Covid pandemic. The Games will feature 40 sports with 526 events, attracting around 10,000 participants, organisers announced at a press conference here. The Vietnamese capital Hanoi will be the main venue alongside 11 neighbouring localities including Quang Ninh, Phu Tho and Bac Ninh, Xinhua news agency reported. Moto of 31st Southeast Asian Games- “For a Stronger South East Asia”.

Points to remember:

a)      In 2023, the Southeast Asian Games will be held at Phnom Penh, Cambodia.

b)      The mascot of the 2021 Southeast Asian Games is “Sao La”, inspired by saola – a rare mammal native to central Vietnam.

 

BANKING AND FINANCE

 

1. Union Bank of India and Ambit Finvest tie-up: Ambit Finvest has announced the signing of a co-lending agreement with Union Bank of India (UBI) for financing to Micro, Small and Medium Enterprise (MSME) customers. Ambit Finvest is the Ambit Group’s non-deposit-taking Non-Banking Financial Company (NBFC). This collaboration will enable underwriting for businesses in 11 states now served by Ambit Finvest. Ambit Finvest and Union Bank of India hope to speed up credit disbursement across multiple geographies with this partnership, according to Sanjay Dhoka, COO and CFO of Ambit Finvest.

KEY POINTS:

a)      MSMEs that face higher interest rates or are unable to access banking services would benefit from lower rates of interest, which will translate into cheaper cost of funds, allowing them to deploy capital more effectively in their businesses, according to the company’s statement.

b)      Lal Singh, Union Bank’s CGM, said that the collaboration with Ambit Finvest Pvt Ltd. is part of UBI’s aim to create synergy between the two organisations, allowing us to better serve the most deserving and underserved enterprises.

c)       Lal Singh also added that the effort is part of Union Bank’s commitment to support MSMEs by offering tailored financial solutions and speeding MSMEs’ growth in order to contribute to the country’s economic development

d)      Ambit Finvest will be able to further grow its reach in the MSME category as a result of its co-lending agreement with a large organisation like Union Bank of India, according to Dhoka.

 

BUSINESS AND ECONOMY

 

1. GST collections in Feb stand at Rs 1.3L cr: Goods and Services Tax (GST) collection crossed the Rs 1.30-lakh crores mark for the fifth time in February 2022. The gross GST revenue collected in the month of February 2022 is Rs 1,33,026 crore of which CGST is Rs 24,435 crore, SGST is Rs 30,779 crore, IGST is Rs 67,471crore (including Rs 33,837 crores collected on import of goods) and cess is Rs 10,340 crore (including ₹638 crores collected on import of goods).

The February mop-up was impacted by the Omicron wave that swept through the country and hence, the gross sales tax collection was lower than the record Rs 1,40,986 crore netted in January. The revenues for the month of February 2022 are 18% higher than the GST revenues in the same month last year and 26% higher than the GST revenues in February 2020.

 

2. T S Ramakrishnan named as new MD and CEO of LIC Mutual Fund: LIC Mutual Fund has announced the appointment of TS Ramakrishnan as its Managing Director & CEO, effective. Ramakrishnan, as the MD and CEO, LIC Mutual Fund Asset Management, will succeed Dinesh Pangtey, its former Wholetime Director and CEO.

About the LIC Mutual Fund: LIC Mutual Fund is one of the oldest and leading mutual funds operating in India. offer a complete basket of 26 products covering debt, equity, hybrid, passive and solution-oriented schemes. The Average Assets under Management (AAuM) is Rs 18,625.52 crores as on January 31, 2022.

 

DEFENCE

 

1. Indian Air Force to conduct Exercise Vayu Shakti at Pokharan range, Rajasthan: Indian Air Force (IAF) will conduct the Exercise Vayu Shakti that will take place at Pokharan range in Jaisalmer, Rajasthan on March 7. Prime Minister Narendra Modi will be the Chief Guest of this event. A total of 148 aircraft of the Indian Air Force (IAF) will participate in this exercise. Rafale aircraft will participate for the first time in this exercise. Exercise Vayu Shakti is organised by Indian Air Force once in every three years. The last Vayu Shakti Exercise took place in 2019.

Note: Indian Airforce founded: 8 October 1932; Indian Airforce Headquarters: New Delhi; Indian Airforce Chief of Air Staff: Vivek Ram Chaudhari.