Daily GK Update- 26th Sep, 2022

 

NATIONAL UPDATES:

 

1. PM Modi receives copy of the Assamese Dictionary Hemkosh in braille: In New Delhi, Jayanta Baruah gave Prime Minister Narendra Modi a copy of the Assamese Dictionary Hemkosh in Braille. Jayanta Baruah and his colleagues received praise from Mr. Modi for their efforts. Assamese Dictionary Hemkosh was one of the first Assamese dictionaries, published in the nineteenth century.

About Assamese Dictionary Hemkosh: The earliest Assamese etymological dictionary based on Sanskrit spellings is called Assamese Dictionary Hemkosh and was created by Hemchandra Barua. 33 years after the release of Bronson’s dictionary, it was first published in the early 20th century under the direction of Capt. P. R. Gordon, ISC, and Hemchandra Goswami. There were around 22,346 words in it. Assamese Dictionary Hemkosh, which is still being published by Hemkosh Printers, is regarded as the primary source for Assamese spelling.

Note: Capital of Assam: Dispur; Chief Minister of Assam: Dr. Himanta Biswa Sarma; Governor of Assam: Prof Jagdish Mukhi

 

2. Dharmendra Pradhan introduces SCALE app to advance leather industry skills: SCALE (Skill Certification Assessment for Leather Employees) app was unveiled by Minister of Education and Skill Development Dharmendra Pradhan at the Council of Scientific & Industrial Research (CSIR)-Central Leather Research Institute (CLRI) in Chennai. This app provides a one-stop solution for the education, testing, and employment requirements of the leather sector. SCALE app:

a)      The Leather Skill Sector Council built the SCALE android app to revolutionise how skill development programmes are planned and delivered to trainees in the leather industry.

b)      All ages of leather craft enthusiasts have access to online live streaming classes from the state-of-the-art studio at Leather SSC’s headquarters.

c)       In the Leather Sector, 2.39 million new jobs are anticipated to be created between 2017 and 2022. Included in this are 0.88 million full-time employees in the leather industry, 0.77 million workers for small firms, and 0.74 million independent contractors or daily pay employees like cobblers.

d)      With 55% of the workforce being under the age of 25, the Indian leather industry has one of the youngest and most productive workforces of 35.

 

3. Nagaland Prison Department introduced mobile attendance application: Nagaland Prison Department goes digital by introducing the mobile attendance application for Prison staff. Advisor for Prisons, Printing & Stationery, H. Haiying launched the Prison staff Attendance App at the District Jail Kohima. The mobile app was initiated by the State Prison Department in collaboration with Excellogics Technology Solution Private Limited. About App:

a)      The Prison Staff Attendance is a mobile app along with an admin portal that aims to provide a comprehensive attendance management system that can make processes hassle-free and provide a seamlessly integrated system for monitoring and tracking the employee’s attendance.

b)      The biometric attendance system which has been implemented in the state has its own problems and with this view, they came up with a new concept of introducing an attendance app through a QR code.

c)       This is a first step towards ensuring that the attendance in the jail is proper and keeping track of the staff who is attending the duty or not.

d)      Kohima jail has started implementing the system while Dimapur jail and other five jails of the state are being given the training and they will be asked to implement it in a week’s time.

Note: Nagaland Capital: Kohima; Nagaland Chief Minister: Neiphiu Rio; Nagaland Governor: Jagdish Mukhi (additional charge).

 

4. ISRO tests hybrid motors successfully, plans to develop new rocket propulsion technology: The Indian Space Research Organization (ISRO) successfully tested a hybrid motor. This may lead to the development of a new propulsion system for next launch vehicles. The Bengaluru-based space agency claimed that the 30 kN hybrid motor tested at the ISRO Propulsion Complex (IPRC) at Mahendragiri in Tamil Nadu is stackable and scalable. Key Points:

a)      The ISRO Liquid Propulsion Systems Center (LPSC) provided support for the test.

b)      Liquid oxygen (LOX) served as the oxidizer and hydroxyl-terminated polybutadiene (HTPB) served as the fuel for the motor.

c)       A hybrid motor employs solid fuel and liquid oxidizer, as opposed to solid-solid or liquid-liquid combinations.

d)      It was explained that using liquids makes throttling easier and that managing the flow rate of LOX makes it possible to restart.

e)      Both HTPB and LOX are environmentally friendly, but LOX is safer to handle, according to ISRO.

 

5. GoI named Bharat Lal as new DG of National Centre for Good Governance: Retired Gujarat cadre officer, Bharat Lal has been appointed as the Director General, National Centre for Good Governance (NCGG). Bharat Lal, a 1988-batch Indian Forest officer of Gujarat cadre, had served as Gujarat government’s resident commissioner in Delhi and has been known to be close to Prime Minister Narendra Modi, the then chief minister of the state. Earlier, during December 2021, Lal was appointed as the Secretary to the Lokpal.

About the National Centre for Good Governance (NCGG): The National Centre for Good Governance (NCGG) is an autonomous institute under the aegis of the Department of Administrative Reforms and Public Grievances, Government of India. Its head office is at New Delhi and the branch office at Mussoorie. The NCGG has been set up to assist in bringing about governance reforms through studies, training, knowledge sharing and promotion of good ideas.

 

INTERNATIONAL UPDATES:

 

1. World Rivers Day: 25th September: World River Day is observed to raise awareness regarding water bodies and to promote their conservation. It is observed every year on the fourth Sunday of September, and this year, it falls on September 25. This day highlights the values of rivers and strives to increase public awareness and encourages the improved supervision of rivers around the world. The theme for this year’s World Rivers Day is ‘The importance of Rivers to Biodiversity’. The absolute need for rivers to keep any civilization going is the focus of this year’s theme.

World Rivers Day History: Internationally renowned river activist, Mark Angelo began a major cleanup event of the Thompson River in British Columbia, in September 1980. Upon its success in 2005, it came to be known as BC River Day. Mark Angelo addressed the United Nations in 2005 during its Water for Life campaign, an effort to raise awareness about vulnerable water supplies throughout the world. In response to Angelo’s proposal, the United Nations established World Rivers Day, to be annually celebrated on the 4th Sunday of every September.

 

2. International Daughter’s Day: 25th September: International Daughter’s Day is observed every year on the fourth Sunday of September. This year, the day is being celebrated on September 25. This day is celebrated to cherish our daughters who bring love and happiness to our lives. To mark this day, people across the globe celebrate by spending some quality time with their daughters and doing something special for them. Organizations and governments also strive to close the gender gap and provide society with equal opportunity.

 

3. World Pharmacists Day: 25th September: Every year on September 25, World Pharmacist Day is commemorated with the goal of highlighting and advocating the pharmacist’s contribution to health improvement. The occasion of World Pharmacy Day serves as a reminder to honour all medical specialists who provide their services with empathy and understanding. This year’s theme, “Pharmacy united in action for a healthier world,” aims to promote unity and highlight the sound effects of pharmacy on health. The theme has been chosen to “showcase pharmacy’s positive impact on health around the world and to further strengthen solidarity among the profession”.

World Pharmacists Day History: The International Pharmaceutical Federation (FIP) Council first announced World Pharmacist Day in 2009 at the World Congress of Pharmacy and Pharmaceutical Sciences in Istanbul, Turkey. This day in 1912 saw the establishment of FIP.

Pharmacists: A pharmacist is a healthcare professional who is responsible for storing, handling, and dispensing medicines. Pharmacists provide the availability of pharmaceuticals and guidance on safe medication usage.

 

4. World Contraception Day: 26th September: World Contraception Day is marked on September 26 with a focus on creating awareness about contraceptive knowledge and family planning. It is a global campaign held annually to shed light on birth control methods by asserting the importance of reproductive health. World Contraception Day has become an important event to highlight the need for population control. The day underlines the need for better family planning which can indirectly also help families to lift themselves out of poverty.

World Contraception Day History: The first-ever World Contraception Day was observed on September 26 in 2007. On that day, 10 international family planning organizations pushed forward the idea of using contraceptives to enable a planned decision about starting a family, leading to the hope that every pregnancy becomes wanted. The day is now supported by a coalition of about 15 international NGOs, medical and scientific communities, and governmental organizations for imparting the right knowledge about sexual and reproductive health.

Note: World Health Organization Headquarters: Geneva, Switzerland; World Health Organization Founded: 7 April 1948; World Health Organization Director-General: Tedros Adhanom.

 

5. International Day for the Total Elimination of nuclear weapons: 26th September: The United Nations observes 26 September every year as the International Day for the Total Elimination of nuclear weapons. The aim of the day is to enhance public awareness about the threat posed to humanity by nuclear weapons and the necessity for their total elimination. It provides an opportunity to educate the public and their leaders about the real benefits of eliminating such weapons, and the social and economic costs of perpetuating them.

 

OTHER UPDATES:

 

SPORTS

 

1. India first MotoGP to be held in Noida’s Buddh circuit in 2023: India is set to host its maiden MotoGP World Championships race at the Buddh International Circuit in Greater Noida in 2023. MotoGP commercial rights owner Dorna and Noida-based race promoters Fairstreet Sports signed a Memorandum of Understanding (MoU) to host the premier two-wheel racing event in India for the next seven years. Riders from as many as 19 countries will participate in the event, which will give a push to trade and tourism in the country, besides generating employment.

Key Points:

a)      Grand Prix of Bharat will witness top manufacturers like Yamaha, Honda, Ducati, KTM, and Aprilia participate in the race. The event will have Noida-based race promoters Fairstreet Sports (FSS) and they will work closely with the organizers to ensure the success of the tournament.

b)      MotoGP also has plans to also introduce MotoE into the Indian racing scenario, which will not only be a first in Asia but a significant green initiative with net zero carbon emission.

c)       The Buddh International Circuit was once home to the Formula 1 Indian Grand Prix, held for three consecutive years from 2011 till 2013, before it was discontinued due to financial, tax and bureaucratic hurdles.

 

BANKING AND FINANCE

 

1. Under SPARSH programme, Defense Ministry signs an MoU with BoB and HDFC: In order to reach seventeen lakh defence pensioners nationwide, the Defence Ministry has inked an MoU with Bank of Baroda (BoB) and HDFC Bank as part of the SPARSH-System for Pension Administration program. Dr. Ajay Kumar, the secretary of defence, stated that by the end of this month, seventeen lakh of the thirty-two lakh defence pensioners will be added to SPARSH. Key Points:

a)      The remaining retirees under this program will be brought as soon as possible.

b)      The average time for pension settlement has decreased dramatically to just 16 days, according to the Defense Secretary.

c)       According to the Ministry, the MoU would designate more than 14,000 bank branches as Service Centers, providing retirees with an efficient way to request profile updates, make complaints and seek redress, verify pensioner data, and more. In the fiscal year 2021–2022, it was said that the SPARSH project has already enrolled one million seniors and distributed 11,000 600 crore rupees.

 

BUSINESS AND ECONOMY

 

1. Credit Suisse Global Wealth Report 2022: Global wealth up 9.8% YoY at $463.6 trillion in 2021: Global wealth totalled $463.6tn at the end of 2021, a rise of $41.4tn (9.8%), the report said. Wealth per adult grew by $6,800 (8.4%) during the course of the year to reach $87,489, close to three times the level recorded at the turn of the century. World Scenario:

a)      The number of US millionaires increased by 2.5 million – almost half of all new millionaires minted across the world. “This is the largest increase in millionaire numbers recorded for any country in any year this century and reinforces the rapid rise in millionaire numbers seen in the US since 2016,” the report said.

b)      China is in second place, with 10% of the world’s millionaires, ahead of Japan with 5.4%, the UK (4.6%) and France (4.5%). Switzerland was once again named the richest country in terms of mean average wealth per adult at $700,000, ahead of the US at $579,000.

c)       However, the inequalities in those countries are highlighted when the median average wealth per adult is examined. Switzerland falls to sixth place with a median wealth of $168,000 and the US drops to 18th place with $93,000. Australia is top of the median wealth table with $274,000. UK adults have a mean wealth of $309,000 (14th place) and a median wealth of $142,000 (ninth place). The country with the biggest jump in mean average wealth was New Zealand, which saw a $114,000 average increase.

 

AWARDS AND HONOURS

 

1. Bill and Melinda Gates Foundation Honours Four Leaders with 2022 Goalkeepers Global Goals Awards: Bill and Melinda Gates Foundation honoured 4 changemakers, with the 2022 Goalkeepers Global Goals Awards as a part of its annual Goalkeepers campaign. The award recognises their efforts to advance progress towards the United Nations (UN) Sustainable Development Goals (SDGs) in their communities and around the world. The Gates Foundation’s sixth annual Goalkeepers Report, “The Future of Progress,” was released. It was co­authored by foundation co­chairs Bill Gates and Melinda French Gates.

Winners of 2022 Goalkeepers Global Goals Awards:

Name of the Award	Presented by	Awardee	Country
2022 Global Goalkeeper Award	Bill Gates and Melinda French Gates	Ursula von der Leyen	Germany
2022 Campaign Award	Malala Yousafzai	Vanessa Nakate	Uganda
2022 Changemaker Award	Angelina Jolie	Zahra Joya	Afghanistan
2022 Progress Award	Lilly Singh	Dr. Radhika Batra	India

About Dr Radhika Batra: Dr Radhika Batra is the Co­founder of the nonprofit organization ‘Every Infant Matters’, which provides last­mile health solutions to disadvantaged children in India. She is progressing SDG 3: Good Health & Well­Being and SDG 10: Reduced Inequalities.

About Zahra Joya: Zahra Joya is a journalist by profession. founded and self­funded ‘Rukhshana Media’—the first national news organization of its kind, an online news agency focused exclusively on covering issues that affect the women of Afghanistan. She is progressing SDG 5: Gender Equality and SDG 16: Peace Justice and Strong Institutions.

About Vanessa Nakate: Vanessa Nakate is a climate justice activist from Uganda and founder of the Africa­based ‘Rise Up Movement’ and the ‘Green Schools Project’. She is progressing SDG 4: Education, SDG 5: Gender Equality, SDG 10: Reduced Inequalities, and SDG 13: Climate Action. In September 2022, UNICEF (United Nations International Children’s Emergency Fund) appointed Vanessa Nakate as its Goodwill Ambassador.

About Ursula von der Leyen: Ursula von der Leyen is a German politician who has been serving as the President of the European Commission. She was awarded for her contribution to maintaining peace and stability in the region.

 

2. India Hypertension Control Initiative wins UN award: India has won the United Nations (UN) award for its ‘India Hypertension Control Initiative (IHCI)’, a large-scale hypertension intervention under the National Health Mission (NHM) that saw 3.4 million hypertensive people identified and put on treatment at various government health facilities. The ‘2022 UN Interagency Task Force, and WHO Special Programme on Primary Health Care Award’ was announced at the UN General Assembly side event at New York, USA.

It has been recognized for India’s exceptional work within India’s existing primary healthcare system. IHCI is a collaborative initiative of the Ministry of Health and Family Welfare, Indian Council of Medical Research (ICMR), state governments and the World Health Organization (WHO)­India.

 

OBITUARIES

 

1. Cosmonaut Valery Polyakov passed away: Russian Cosmonaut Valery Vladimirovich Polyakov, who holds the record for the longest spaceflight, has passed away at the age of 80. According to Roscosmos, Polyakov has participated in two space missions during his career with a total duration of 678 days and 16 hours.

Polyakov took part in his first mission to space in 1988 and returned eight months later in 1989. That year, he was appointed deputy director of the Institute of Biomedical Problems. Valery Polyakov spent a full 437 days orbiting the Earth on the Mir space station between 1994 and 1995. Polyakov had previously spent 288 days in space on a mission in 1988-89.

 

Daily GK Update- 25th Sep, 2022

NATIONAL UPDATES:

 

1. PM CARES Fund: Govt appoints Industrialist Ratan Tata as Trustee: According to the prime minister’s office, Veteran industrialist Ratan Tata, former Supreme Court judge KT Thomas, and former deputy Lok Sabha speaker Kariya Munda have been nominated as trustees of the PM CARES Fund. Prime Minister Narendra Modi chaired a meeting of the Board of Trustees of the PM CARES Fund, which was attended by Union Home Minister Amit Shah and Union Finance Minister Nirmala Sitharaman.

Both Shah and Sitharaman are the Trustees of PM Cares Fund. During the meeting, Ratan Tata, Chairman Emeritus, Tata Sons; Justice KT Thomas, former SC judge, and Kariya Munda, former Deputy speaker appointed as the newly nominated trustees of the PM CARES Fund.

As per the PMO: The trust further decided to nominate other eminent persons for the constitution of the Advisory Board to the PM CARES Fund. These eminent personalities included: Rajiv Mehrishi, Former Comptroller and Auditor General of India; Sudha Murthy, Former Chairperson, Infosys Foundation, and Anand Shah, Co-founder of Teach for India and Former CEO of Indicorps and Piramal Foundation.

 

2. Cabinet Approves an Additional PLI Plan For Solar Cells: The Union cabinet approved the second tranche of the Performance Linked incentive (PLI) scheme on ‘National programme on High Efficiency Solar PV Modules’ for achieving manufacturing capacity of Giga Watt (GW) scale to boost manufacturing of solar photovoltaic (PV) modules in India, Union minister Anurag Thakur announced in a press briefing. Key Points:

a)      With the second tranche of the PLI scheme the government is hoping that about 65GW per annum manufacturing capacity of fully and partially integrated, solar PV modules would be installed in the country.

b)      The second tranche of the PLI scheme for the national programme on ‘high efficiency solar PV modules’ has been approved with an outlay of Rs.19,500 crore.

c)       The government has also set a target of 500GW of installed electricity capacity from non-fossil sources by 2030 would roughly mean a capacity of 280-300GW of solar energy.

 

3. Maharashtra to establish an institution similar to NITI Aayog: The state’s deputy chief minister, Devendra Fadnavis, revealed in a meeting that the Maharashtra government intends to create an organisation along the lines of Niti Aayog. The organisation would be in charge of doing thorough data analysis and coming to informed choices about various state sectors. Key Points:

a)      The Chief Minister of Maharashtra met with representatives from NITI Aayog to discuss a number of issues, including asset monetisation and blockchain in agriculture.

b)      The discussion covered topics in the meeting are: alternative fuels, electric automobiles, drone healthcare, agribusiness including others.

c)       According to Devendra Fadnavis, the NITI Aayog has also conducted a thorough investigation into connected issues and created a technology that allows for the analysis of interrelated data from many departments in order to improve decision-making.

d)      Devendra Fadnavis used the circumstance where the first department has information on a disease outbreak and another department has information on contaminated water as an example. He said that if the two departments shared data, things would be much simpler.

 

4. Delhi Lt General V K Saxena launched ‘We Care’ community policing initiative: Lt General V K Saxena inaugurated ‘We Care’ a community policing initiative here aimed at spreading awareness about various schemes of the Delhi Police among people. This initiative is inaugurated at an event organised at Kartvaya Path at India Gate on the occasion of ‘Sewa Divas, which is being celebrated to mark the 72nd birthday of Prime Minister Narendra Modi.  The aim of this initiative is to spread awareness among people about different schemes of the Delhi Police to maintain coordination and establish a police-public interface. Under the ‘We Care’ initiative:

a)      In the ‘We Care’ initiative, all DCPs will hold community policing activities in their respective areas on every Saturday and Sunday for the next three months.

b)      They will also arrange visits of school children and RWA members to the police stations at 30 selected locations and interact with them through quiz sessions and by disseminating information through community discussion.

c)       These initiatives help in providing protection to children, women, senior citizens and foreign tourists.

 

5. Antyodaya Divas: 25th September: Antyodaya Diwas is celebrated annually on 25th September in India. It marks the birth anniversary of Indian leader Pandit Deendayal Upadhyaya and is celebrated in his honour to remember his life and legacy. He was one of the most prominent personalities in the history of Indian politics. This year, the Antyodaya Diwas marks the 105th birth anniversary of Upadhyaya. He was the co-founder of Bharatiya Jana Sangh (BJS) and a Rashtriya Swayamsevak Sangh (RSS) thinker.

Antyodaya means uplifting the poorest of the poor, the special day aims at reaching the weakest section of the society. On this day, Upadhyaya is remembered for his contribution to society and politics that he played in the upliftment of the poor.

 

INTERNATIONAL UPDATES:

 

1. India, Egypt sign MoU to bolster defence cooperation in mutual interest sectors: India and Egypt have signed an MoU to bolster defense cooperation and decided to enhance joint military exercises, training, co-production, and maintenance of equipment. The MoU was signed by Defence Ministry of India Rajnath Singh and General Mohamed Zaki from Egypt at a meeting in Cairo. Key Points:

a)      The MoU will enhance defense cooperation across all the sectors of mutual interest.

b)      The ministers of both countries exchanged views on regional security and acknowledged the contribution of their countries to peace and stability.

c)       The Egyptian counterparts were also invited to the India-Africa Defence Dialogue and Indian Ocean Region Defence Ministers’ conclave to be held as part of the 12th DefExpo in Gandhinagar.

d)      Defence Minister Rajnath Singh acknowledged Egypt as it is among the most important trading partners of India in Africa and that the bilateral trade has expanded.

e)      Egypt is among the several countries that have shown interest in acquiring arms produced by India, including the Akash Missile System capable of intercepting hostile aircraft, helicopters, drones, and subsonic cruise missiles at a range of 25 km.

 

2. Project “Saaras” for menstruation health launched by Israeli embassy in Ghaziabad: The women of Arthala village in Ghaziabad are fond of 27-year-old Uzma Kazmi; it was she who gave them better coping mechanisms for those “uncomfortable days” of the month by bringing affordable and environmentally friendly sanitary napkins, “Saraas,” within their grasp. As part of project “Saraas,” an initiative of the Israeli embassy in India in conjunction with NGO Khushii, which aims to raise awareness about menstruation health and cleanliness and improve skills and capacity for women, the centre was opened by Naor Gilon, the Israeli ambassador to India. Project “Saaras”:

a)      About 20 kilometres from the national capital of Delhi, the densely populated Arthala hamlet, with its little roads and winding byways crisscrossing its length and breadth, is home to an estimated 200,000 inhabitants, the majority of whom are from lower socioeconomic classes.

b)      With assistance from MASHAV, Israel’s organisation for foreign development cooperation, this industrial facility was constructed.

c)       The facility can already produce 10,000 sanitary pads every day and currently has a workforce of 15 women, the most of whom are from Arthala.

d)      The cost of each pack of 10 is £20, which is significantly less expensive than the equivalent product’s lowest price on the market.

 

OTHER UPDATES:

 

SPORTS

 

1. Czech Republic’s Linda Fruhvirtova won Chennai Open 2022 title: Czech Republic’s 17-year-old, Linda Fruhvirtova scripted a brilliant comeback to win the Chennai Open 2022 WTA 250 tennis singles. The teenager beat Magda Linette of Poland, the third seed, in the final. At 17 years and 141 days old, she is the youngest titlist of the season on the WTA Tour so far. She is the youngest singles champion on tour since Coco Gauff won Parma last year at 17 years, 70 days old. In doubles, the top-seeded pair of Brazil’s Luisa Stefani and Canada’s Gabriela Dabrowski defeated Russian Tennis Federation’s Anna Blinkova and Georgia’s Natela Dzalamidze 6-2, 6-1 in the one-sided final.

 

BANKING AND FINANCE

 

1. RBI Governor Launches 3 key Digital Payment Initiatives at Global Fintech Fest 2022: The Reserve Bank of India (RBI) Governor, Shaktikanta Das, launched three key digital payment initiatives at the Global Fintech Fest 2022. The three digital payment initiatives that were launched by the RBI are RuPay Credit Card on Unified Payments Interface (UPI), UPI Lite, and Bharat BillPay Cross-Border Bill Payments. Key Points:

a)      UPI Lite will provide users with a convenient solution for faster and simpler low-value transactions, the National Payments Corp Of India (NPCI) said in a statement.

b)      Now that UPI Lite on BHIM App will be enabled, the users will be able to make small-value transactions in a near-offline mode.

c)       The launch of the UPI Lite will reduce the debit load on the core banking system, thereby improving the success rate of transactions further, enhancing the user experience, and taking us one step closer to processing a billion transactions a day on the UPI platform.

d)      The upper limit of a UPI Lite payment transaction will be ₹200.

e)      The total limit of the UPI Lite digital payment mode on the wallet on a device would be ₹2,000 at any point in time.

f)        Customers of these eight banks would be able to use UPI Lite digital payment system. These are Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India (SBI), Union Bank of India and Utkarsh Small Finance Bank.

 

BUSINESS AND ECONOMY

 

1. Asian Development Bank pares 2022-23 GDP growth forecast for India to 7%: The Asian Development Bank (ADB) has pared its 2022-23 growth projection for India’s economy to 7% from 7.5% estimated in April, terming it a “modest downward revision” driven by higher-than-anticipated inflation and monetary tightening. The Bank also raised its inflation forecast for India to 6.7% for this year, while widening its current account deficit (CAD) estimate to 3.8% of GDP. The CAD is expected to drop to 2.1% of GDP in 2023-24 while inflation will moderate to 5.8% as demand pressures from strengthening economic activity are tamped down by easing supply bottlenecks, the Bank reckoned.

 

2. Jio Cinema’s OTT merger with Viacom18 Media approved by CCI: Jio Cinema’s OTT merger with Viacom18: The merger of Jio Cinema OTT and Viacom18 Media received approval from fair-trade regulator Competition Commission of India (CCI). The CCI announced in a tweet on Monday that, following investments from BTS Investment and Reliance Projects & Property Management Services, it has approved the merger of the Jio Cinema OTT platform with Viacom18 Media. Key Points:

a)      Reliance Industries Ltd. (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems in April.

b)      Bodhi Tree to invest Rs 13,500 crore in Viacom18, and Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster as part of the tripartite partnership, creating one of the largest TV and digital streaming firms in India.

c)       Reliance’s well-liked Jio Cinema OTT app will be moved to Viacom18 as part of the cooperation.

d)      IT support services are provided by Reliance Projects & Property Management Services. Through its roster of channels and streaming service “Voot,” Viacom18 Media engages in the business of offering media and entertainment services.

 

DEFENCE

 

1. Abhyas drill: India & U.S coast guards showcase maritime ties: The Coast Guards of India and the United States participated Off the coast of Chennai in the massive Abhyas drill or the Abhyas joint drill. The United States Coast Guard (USCG) Cutter Midgett’s four-day visit came to an end. The USCG ship and the Indian Coast Guard discussed best practices for search and rescue operations while they were in port. Key Points:

a)      The joint training exercises aimed to promote a “free and open” Indo-Pacific region and familiarise the coast guards of the two nations with one another’s capabilities.

b)      Fleet manoeuvres, which simulate the hijacking of a ship and subsequent rescue of its crew in a planned cooperative anti-piracy operation, are the show’s high points.

c)       The exercise’s other high points included the interception of a pirated ship, a well-organized combined boarding operation, a SAR demonstration, and external fire-fighting to save burning ships.

d)      The USCG ship engaged in professional exchanges with Indian Coast Guard counterparts during visit-board-search-seizure operations, cross-deck visits, and a pleasant volleyball match.

 

2. Patrol vessel Samarth commissioned with Indian Coast Guard: Patrol vessel Samarth commissioned: The new ship for the Indian Coast Guard in Kochi will unquestionably improve the operational capability of the Indian Coast Guard at sea. The ship was operating under the operational control of Coast Guard District Headquarters-4 while it was headquartered in Kochi from Goa. To improve the coastal security system, the Indian Coast Guard (ICG) added Patrol Vessel Samarth to its fleet. The 105-meter-long ICGS Samarth can travel at a top speed of 23 knots (approx 43 Kmph). About Patrol Vessel Samarth:

a)      Patrol Vessel Samarth is a ship which is outfitted with a high power external fire fighting (EFF) system, an integrated bridge management system (IBMS), an integrated platform management system (IPMS), and a power management system (PMS).

b)      A twin-engine helicopter and four high-speed boats, including two inflatable boats for boarding operations, search and rescue operations, law enforcement, and maritime patrol, are all intended to be carried by the ship.

c)       The ship is equipped with a cutting-edge surveillance system and has the ability to control marine oil spills.

 

3. Indian Army activates satellite-based internet service on Siachen Glacier, world’s highest battlefield: The Indian Army has achieved a remarkable achievement, activating satellite-based Internet service on the Siachen Glacier, which is the world’s highest battlefield. On the same day, the domestic defense industry was invited to offer critical equipment for emergency procurement in consonance with its commitment to ‘fight future wars with Indigenous solutions’. Key Points:

a)      The Indian Army has collaborated with Bharat Broadband Network Limited (BBNL), which is a fully government-owned broadband infrastructure provider company. BBNL helps in providing internet services to the soldiers.

b)      BBNL is working on Bharat Net scheme which aims to provide internet connectivity using satellites to rural remote areas including 7000-gram panchayats. More than 4000 of these gram panchayats have already connected to the internet with BBNL.

c)       The internet is wireless internet, beamed down from satellites orbiting the earth.

d)      A few private companies are providing different satellite-based Internet services to the Indian Army in sensitive places in border areas like Eastern Ladakh.

 

OBITUARIES

 

1. Sanskrit scholar Padmashree Acharya Ramayatna Shukla passes away: Padma Shri awardee, Prof Acharya Ram Yatna Shukla, a Sanskrit scholar and former President of Kashi Vidwat Parishad, passed away at the age of 90 years. He is popularly called as “Abhinav Panini” due to his contribution towards inventing new methods of Sanskrit Grammar and Vedanta teaching and modernisation. He was the founder of UP Nagkoop Sastrath Samiti and Sanatan Sanskriti Samvardhan Parishad, which are engaged in the uplifting of Sanskrit language and moral values of society.