Daily GK Update- 3rd Jan, 2022

 

NATIONAL UPDATES:

 

1. PM Modi launches blockchain-based digital degrees at IIT Kanpur: Under the National Blockchain Project, Prime Minister Narendra Modi has launched blockchain-based digital degrees at the 54th Convocation Ceremony of IIT Kanpur. Later Prime Minister also inaugurated the completed section of the Kanpur Metro Rail Project and the Bina-Panki Multiproduct Pipeline Project. These digital degrees can be verified globally and are unforgeable.

The blockchain technology being used by IIT Kanpur to award digital degrees has been developed in-house. It is being touted as a revolutionary technology for the education sector. The technology is already being used in the financial sector. The technology has been developed by the institute under the National Blockchain Project.

 

2. PM Modi laid the foundation stone of 4 hydropower projects in Himachal Pradesh: Prime Minister Narendra Modi has inaugurated and laid the foundation of the hydropower projects worth Rs 11000 crore in Mandi, Himachal Pradesh. He inaugurated the Sawra-Kuddu Hydro Power Project, a 111 MW Project which has been built at a cost of around Rs 2,080 crore. He also laid the foundation stone of the Renukaji Dam project which has been kept pending for around 3 decades. The 40 MW project will be built at a cost of around Rs 7,000 crore. Other Projects are: Luhri Stage 1 Hydro Power Project and the Dhaulasidh Hydro Power Project, the first hydropower project of the Hamirpur district.

Note: Himachal Pradesh Capital: Shimla (Summer), Dharamshala (Winter); Himachal Pradesh Governor: Rajendra Arlekar; Himachal Pradesh Chief Minister: Jai Ram Thakur.

 

3. Telangana topped in Shyama Prasad Mukherji Rurban Mission: Telangana has secured 1st place among the 34 states and Union Territories that implement the Shyama Prasad Mukherji Rurban Mission (SPMRM). Tamil Nadu and Gujarat have secured 2nd and 3rd place on the list respectively. In the Ranking of the Cluster, among the 295 clusters, the Ryakal cluster of Sangareddy and the Jukkal cluster of Kamareddy in Telangana has secured the 1st and 2nd position respectively. The Aibawk cluster of Aizawl in Mizoram has secured the 3rd position.

About the Shyama Prasad Mukherji Rurban Mission: The Shyama Prasad Mukherji Rurban Mission (SPMRM) follows the vision of “Development of a cluster of villages that preserve and nurture the essence of rural community life with focus on equity and inclusiveness without compromising with the facilities perceived to be essentially urban in nature, thus creating a cluster of “Rurban Villages”. The objective of the Shyama Prasad Mukherji Rurban Mission (SPMRM) is to stimulate local economic development, enhance basic services, and create well planned Rurban clusters.

 

4. IAS Praveen Kumar named as DG & CEO of Indian Institute of Corporate Affairs: Govt of India has approved the appointment of Praveen Kumar, IAS, Former Secretary, Ministry of Skill Development & Entrepreneurship to the post of Director General & Chief Executive Officer, Indian Institute of Corporate Affairs (IICA). The proposal for setting up IICA was approved by Planning Commission in the year 2007. It was established in 2008 at Manesar, Haryana. Praveen Kumar is a 1987 batch retired IAS officer of Tamil Nadu cadre, and a former Secretary, Skill Development & Entrepreneurship.

 

5. Radhika Jha named as CEO of Energy Efficiency Services: Radhika Jha has been appointed as the Chief Executive Officer in state-run Energy Efficiency Services (EESL). EESL is a joint venture between NTPC, Power Grid, Power Finance Corp and REC, working to promote energy efficiency in the country. Prior to the new posting, the IAS officer was serving as Secretary to the Government of Uttarakhand for the Education Department. She took charge of the post in July this year and navigated the operational guidelines for resuming classes post COVID. Earlier, Radhika Jha also led the Centre’s Integrated Power Development Scheme as Executive Director in Power Finance Corp, before moving to the state.

Note: Energy Efficiency ServicesHeadquarters: New Delhi; Energy Efficiency Services Founded: 2009; Energy Efficiency Services Chairmen: Arun Kumar Mishra.

 

6. A book titled ‘Dr V L Dutt: Glimpses of a Pioneer’s Life Journey’ by V L Indira Dutt: Vice President of India M Venkaiah Naidu has launched the book titled ‘Dr V L Dutt: Glimpses of a Pioneer’s Life Journey’ authored by Dr V L Indira Dutt, Chairperson and Managing Director of KCP Group, in Chennai, Tamil Nadu. The book is based on the life of Late Velagapudi Lakshmana Dutt (V.L. Dutt), the former Chairman of KCP Group.

Dutt was a well-known industrialist, philanthropist, and visionary who influenced a generation of young entrepreneurs. Dutt, as president of the Federation of Indian Chambers of Commerce and Industry (FICCI), was essential in bridging the gap between government and industry during the key years of 1991-92.

 

INTERNATIONAL UPDATES:

 

1. Japan introduced the world’s 1st Dual-Mode Vehicle: Japan has introduced a minibus lookalike world’s first dual-mode vehicle (DMV) in its town of Kaiyo. The vehicle can run on normal rubber tyres on the road but its steel wheels, which are in its underbelly, descend when it hits the rail tracks. The DMV can carry up to 21 passengers and runs at a speed of 60km/h on rail tracks and can go as fast as around 100km/h on public roads.

The front tyres are lifted off the track and the rear wheels stay down to propel the DMV onto the railway. This feature of effectively changing into a train-like module easily on a rail track is the first of its kind. Powered by diesel, the small fleet of vehicles comes in different colours. It runs along part of the coast of Shikoku island in southern Japan, connecting several small towns and offering passengers attractive seaside scenery.

Note: Japan Capital: Tokyo; Japan Currency: Japanese Yen; Japan PM: Fumio Kishida.

 

OTHER UPDATES:

 

SPORTS

 

1. National Dope Testing Laboratory regained WADA accreditation: World Anti-Doping Agency (WADA) has restored the accreditation of the National Dope Testing Laboratory (NDTL) in accordance with the International Standard for Laboratories (ISL), which had been suspended since August 2019. With this, NDTL’s Anti-Doping testing and activities will be resumed with immediate effect. NDTL has also been collaborating with other WADA accredited laboratories for strengthening its research activities and anti-doping efforts.

India is currently third in the WADA’s global list of dope violators, led by Russia. The suspension of the NDTL had prohibited it from carrying out any anti-doping activities, including all analysis of urine and blood samples. The process had made the anti-doping programme very expensive for the country because of the significant cost involved in sending samples abroad.

Note: World Anti-Doping Agency Founder: Dick Pound; World Anti-Doping Agency Founded: 10 November 1999; World Anti-Doping Agency Headquarters: Montreal, Canada; World Anti-Doping Agency President: Craig Reedie.

 

BANKING AND FINANCE

 

1. HDFC Bank tie-up with IPPB to offer banking services in rural areas: HDFC Bank has signed an MoU with India Post Payments Bank (IPPB) to offer banking services to over 4.7 crore customers of IPPB in semi-urban and rural areas. Under the MoU, out of 4.7 crores, customers around 90 per cent reside in rural areas. The HDFC bank aims to boost its financial inclusion drive by leveraging IPPB’s network of 650 branches and over 136,000 banking access points.

This alliance will allow IPPB to provide affordable and diversified offerings to its customers through its doorstep banking service. This alliance will allow us to take our best-in-class products and services to millions of IPPB customers in the remotest corners of India.

Note: India Post Payments Bank Founded: 2018; India Post Payments Bank (IPPB) Headquarters: New Delhi, Delhi; India Post Payments Bank (IPPB) MD & CEO: J Venkatramu; India Post Payments Bank (IPPB) Tag line: Aapka Bank, Aapke Dwaar.

 

2. Indipaisa tie-up with NSDL Payments Bank to launch a new Fintech platform: Indipaisa has signed a partnership agreement with NSDL Payments Bank to launch Financial Technology (Fintech) solutions targeting India’s 63 million Small & Mid-sized Enterprise (SME) sector. To empower SME owners & operators to provide facilities and services that help them grow businesses, comply with government tax laws and build a sustainable future.

About the Agreements:

(1) Indipaisa’s mission is to empower SME owners and operators to take charge of their finances as well as give them facilities and services that help them grow their businesses, comply with government tax laws, and build a better future for their families.

(2) Indipaisa plans to introduce multiple financial products and services customized from the ground up to match the specific needs of Indian SME owners and operators.

(3) Furthermore, Indiapaisa is proud to be part of the Government of India and the Reserve Bank of India’s drive to digitize payments, estimated to exceed USD 1.0 Trillion annually by the year 2025.

Note: NSDL Payments Bank Founded: 1996; NSDL Payments Bank Headquarters: Mumbai, Maharashtra; NSDL Payments Bank MD & CEO: Abhijit Kamalapurkar.

 

3. GoI appoints Atul Kumar Goel as new MD & CEO of PNB: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Atul Kumar Goel, MD & CEO of UCO Bank, as MD & CEO of Punjab National Bank (PNB) with effect from February 1 next year. Goel will serve as PNB chief until December 31, 2024, which is his attaining the superannuation age. Goel will replace Mallikarjuna Rao, incumbent MD & CEO of PNB.  Rao was given a three-month extension that will end on January 31, 2022.

Meanwhile, the ACC has appointed Soma Sankara Prasad, currently Deputy Managing Director at State Bank of India, as Managing Director and Chief Executive Officer in UCO Bank. He will serve as MD & CEO of UCO Bank till the date of attaining the age of superannuation on May 31, 2023.

 

BUSINESS AND ECONOMY

 

1. ICRA rating agency expects India to grow at 9% in FY22-23: ICRA Credit rating agency has expected India’s real gross domestic product (GDP) will grow with 9% rate in fiscal years 2022 and 2023. The Indian economy has grown at 8.4 percent in the second quarter of the current fiscal year. ICRA said the growth momentum is not enough to confirm a change in the Monetary Policy stance in the February 2022 review. The Future Expectation Index continued to display optimism because of improving the overall economic situation.

 

DEFENCE

 

1. DRDO named Paras Defence for handing over border surveillance systems tech: The Defence Research and Development Organization (DRDO) selected Paras Defence and Space Technologies for handing over the technology of border surveillance systems as developed by Instruments Research & Development Establishment and DRDO. This technology has been transferred by a licensing agreement for the transfer of technology (ToT) for border surveillance systems entered between the company, Instruments Research & Development Establishment (IRDE) and Defence Research and Development Organization (DRDO). This system shall provide all-weather surveillance for day and night monitoring of the border areas, it shall consist of Radar, EO sensors etc., mounted on Pan Tilt platforms. With this ToT, Paras Defence and Space Technologies shall be serving the requirement of the Armed Forces of the nation.

About the Paras Defence and Space Technologies: Paras Defence and Space Technologies is primarily engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. Its product offerings cater to four major segments of the Indian defence sector i.e. defence and space optics, defence electronics, electro-magnetic pulse (EMP) protection solution and heavy engineering for defence and niche technologies.

 

OBITUARIES

 

1. Seven-term Rajya Sabha MP and industrialist Mahendra Prasad passes away: Seven-time Rajya Sabha MP from the Janata Dal (United) & industrialist, Mahendra Prasad passed away. He was a seven-term Rajya Sabha MP from Bihar and was also elected to the Lok Sabha once. He was first elected to the Lok Sabha on a Congress ticket in 1980. Estimated to be one of the richest members of Parliament, the founder of Aristo Pharmaceuticals was a seven-term Rajya Sabha MP from Bihar and was also elected to the Lok Sabha once.

Daily GK Update- 2nd Jan, 2022

 

NATIONAL UPDATES:

 

1. Centre sets up two panels to lower crop insurance premium: The Centre has appointed two separate groups of experts to suggest suitable working models with cost benefit analysis that will lower crop insurance premium and technology in crop yield estimation under the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY). This follows the exit of several States including Gujarat, Andhra Pradesh, Telangana, Bihar and West Bengal from the scheme, citing high premium.

(1) A ten-member committee under scientist KR Manjunath of Indian Space Research Organisation (ISRO) will explore the feasibility of adoption of various technology-based approaches developed through pilot projects by ISRO and its arm National Remote Sensing Centre (NRSC) as well as Mahalanobis National Crop Forecast Centre (MNCFC) of the Union Agriculture Ministry.

(2) The other sub-committee, headed by Saurabh Mishra, joint secretary in Ministry of Finance, will conduct cost benefit analysis of all “accepted models – agriculture insurance pool, cup and cap 80-110 per cent and co-insurance 20-80 per cent” as well as any profit-loss sharing model.

 

2. Govt set up high-level committee to examine of lifting Nagaland’s AFSPA: The Government of India has decided to constitute a ‘five-member’ committee to look into the demand for withdrawal of Armed Forces (Special Powers) Act “AFSPA” in Nagaland. The committee headed by Vivek Joshi, the Registrar General and Census Commissioner of India, would submit its recommendations within 45 days. Additional Secretary in the Home Ministry Piyush Goyal will be its Member-Secretary. The Chief Secretary and DGP of Nagaland and the DGP of Assam Rifles will be the other members of the committee. Vivek Joshi, who is Registrar General and Census Commissioner of India, will head the five-member committee while Additional Secretary in the Union Home Ministry Piyush Goyal will be the member secretary of the panel. Other members of the committee are the chief secretary and DGP of Nagaland and the DGP of the Assam Rifles.

About the AFSPA: The AFSPA empowers security forces to conduct operations and arrest anyone without any prior warrant. It also gives immunity to the forces if they shoot someone dead.

Note: Chief Minister of Nagaland: Neiphiu Rio; Governor of Nagaland: Jagdish Mukhi.

 

3. NITI Aayog released 4th State Health Index: NITI Aayog has released the fourth edition of the State Health Index for 2019–20 that provides incremental performance in health outcomes and status. The index is developed by: NITI Aayog, World Bank, and Ministry of Health and Family Welfare (MoHFW). The report, titled “Healthy States, Progressive India”, ranks states and Union Territories on their year-on-year incremental performance in health outcomes as well as their overall status. The index is being compiled and published since 2017. The reports aim to nudge states/UTs towards building robust health systems and improving service delivery.

(1) Among the ‘Larger States’, in terms of annual incremental performance, Uttar Pradesh, Assam and Telangana are the top three ranking states.

(2) Among ‘Smaller States’, Mizoram and Meghalaya registered the maximum annual incremental progress.

(3) Among UTs, Delhi, followed by Jammu and Kashmir, showed the best incremental performance.

On overall ranking based on the composite index score in 2019–20, the top-ranking states were Kerala and Tamil Nadu among the ‘Larger States’, Mizoram and Tripura among the ‘Smaller States’, and Dadra and Nagar Haveli and Daman and Diu and Chandigarh among the UTs.

 

INTERNATIONAL UPDATES:

 

1. China launches new camera satellite with 5m resolution: China has launched a new satellite with a camera capable of taking photos of the ground with a resolution of five meters, according to the National Space Administration of China (CNSA). The satellite, called “Ziyuan-1 02E” or “Five Meter 02 Optical Satellite”. Beijing time by a Long March-4C rocket from the Taiyuan Satellite Launch Center in Beijing Province. Shanxi (northern China). This is the 39th launch of the Longue Marche-4C rocket and the 403rd launch of the entire Long March series.

About the satellite:

(1) The Ziyuan-1 02E weighs approximately 2.5 kilograms and is equipped with infrared, near-infrared and hyperspectral cameras. The cameras can take panchromatic color images of the Earth.

(2) The satellite will work with the five-meter optical satellite 01 and will reduce the revisiting time of Chinese territory from three days to two days.

(3) Images taken by the satellite duo will help engineers study China’s geological environment and search for minerals. People working in other fields such as transport, agriculture and disaster mitigation will also receive help through the images.

 

2. Somalia’s President suspends PM Mohamed Hussein Roble: Somalian Prime Minister Mohamed Hussein Roble has been suspended. President Mohamed Abdullahi Farmajo has suspended the Prime Minister, who is facing allegations of involvement in the theft of land. Mohamed Roble accused the President of trying to stage a coup and said, he would continue in office. He urged the security forces to take orders from him rather than Mr Farmajo. The term of Farmajo officially ended in February but was extended because of disagreements over how to choose a new incumbent. Somalia has not had an effective central government since the overthrow of long-serving ruler Siad Barre in 1991. The country is marred by disputes between rival politicians and clans. It is also battling an insurgency by al-Shabab, an al-Qaeda affiliate.

Note: Somalia Capital: Mogadishu; Somalia Currency: Somali shilling.

 

OTHER UPDATES:

 

SPORTS

 

1. Uttar Pradesh won 11th Hockey India junior national championship: Uttar Pradesh has crowned the winners of the 11th Junior National Men’s Hockey Championship following a 3-1 victory over Chandigarh in the final at Kovilpatti, Tamil Nadu. Tournament top scorer Sharda Nand Tiwari opened the scoring for Uttar Pradesh. Uttar Pradesh Hockey maintained its unbeaten record. In the 3rd/4th Place playoff match, the Hockey Association of Odisha edged out Hockey Haryana 3 – 2 in a closely contested affair to clinch 3rd place in the competition.

 

2. Nitesh Kumar wins double gold at 4th Para-Badminton National Championship: Nitesh Kumar won doubled gold at the 4th Para-Badminton National Championship, which concluded in Bhubaneswar, Odisha. Haryana’s Nitesh along with his partner Tarun Dhillon defeated World No. 1 Paralympic Games gold medallist Pramod Bhagat and Manoj Sarkar in straight sets 21-19, 21-11 in the Men’s doubles finals to win the gold. Earlier, Nitesh also won the gold medal in the Men’s singles category. World No 1 SL3 Para-Badminton player Parul Parmar from Gujarat also secured gold while Mandeep Kaur from Uttarakhand won Silver and Mansi won bronze.

 

BANKING AND FINANCE

 

1. HDFC Life signed bancassurance partnership with South Indian Bank: HDFC Life signed a bancassurance (Bank-Insurance) agreement with South Indian Bank to enable customers of the South Indian Bank to avail HDFC Life’s life insurance products and services to the customers of South Indian Bank. This bancassurance arrangement will enable customers of the South Indian Bank to avail HDFC Life’s wide range of life insurance products which include solutions for protection, savings and investment, retirement and critical illness. This bancassurance partnership will further strengthen HDFC Life’s business across India.

About the agreements:

(1) HDFC Life is one of the largest life insurance players with a market share of 22.3% (in terms of Overall New Business Premium as on September 30, 2021). The insurer has a wide range of products that offer customers the dual benefits of protection as well long term savings based on their life stage requirements.

(2) HDFC Life is targeting to provide the customer with innovative products and superior levels of services through the physical and digital routes.

(3) The Company offers end to end digital on-boarding to customers along with 24/7 service. This unique combination of simple products and superior quality service makes for a compelling customer proposition.

Note: South Indian Bank Founded: 29 January 1929; South Indian Bank Headquarters: Thrissur, Kerala; South Indian Bank MD & CEO: Murali Ramakrishnan.

 

2. IndusInd Bank and NPCI tie-up to offer cross-border payments through UPI: IndusInd Bank has partnered with the National Payments Corporation to offer real-time cross-border remittances to India using UPI IDs, for its Money Transfer Operator (MTO) partners. It is the first Indian bank to go live on UPI for cross-border payments/NRI remittances. Under this arrangement, the MTOs will be using the IndusInd Bank channel to connect with NPCI’s UPI payment systems for validation and cross-border payment settlement into beneficiary accounts. IndusInd Bank has started off with Thailand’s DeeMoney for Foreign Inward Remittance (FIR) through UPI. The bank has started the service with DeeMoney, a Thailand-based financial solutions provider offering money transfers and foreign currency exchange services. Customers using the DeeMoney website can easily transfer funds just by adding the beneficiary’s UPI ID.

 

AWARDS AND HONOURS

 

1. PETA: Alia Bhatt India’s 2021 Person of the Year: People for the Ethical Treatment of Animals (PETA) India has named Bollywood star Alia Bhatt its 2021 Person of the Year. She is an animal lover and often shares pictures with her pets. This year, Alia Bhatt invested in Phool, the company behind Fleather, which is a vegan leather made from discarded temple flowers.

Her vegan kidswear line, Ed-a-Mamma, also won a 2021 PETA India fashion award for helping to nurture kids’ love for animals and nature. Alia also starred in a pro-adoption PETA India campaign to help cats and dogs. She has used her position to call for stronger animal protection laws.

 

OBITUARIES

 

1. Former Greek President Karolos Papoulias passes away: Veteran Greek politician Karolos Papoulias, who served as president at the height of the economic crisis of the 2010s, died. Papoulias, a longtime socialist lawmaker and minister, was close to Andreas Papandreou, the founder of the Socialist PASOK party. He served two terms between 2005 and 2015. Papoulias, who was also foreign minister in 1985-89 and 1993-96, was a high-ranking member of socialist PASOK party and a close associate of its late leader and former prime minister Andreas Papandreou.

 

2. E.O. Wilson, Known as ‘Father of Biodiversity,’ passes away: E.O. Wilson, the former Harvard University biologist and Pulitzer Prize winner whose study of ants and human behaviour made him one of the world’s most influential scientists and prompted his calls for action to protect millions of species on the planet, has passed away. He was 92. To protect Earth earned him the nickname “Darwin’s natural heir”.

He was the author of hundreds of scientific papers and more than 30 books, two of which won him Pulitzer Prizes for nonfiction: 1978’s On Human Nature, and The Ants in 1990. The “father of biodiversity,” as Wilson was also known, attempted to unify the natural sciences with the humanities and said there was still time to reverse a “sixth extinction” of most species on the planet if environmental degradation was halted.

 

3. ‘He-Man’ artist and toy designer Mark Taylor passes away: Mark Taylor, artist and toy designer for the He-Man and the Masters of the Universe franchise as well as the Teenage Mutant Ninja Turtles, passed away. Taylor began his career with Mattel in 1976 as a packaging designer. He-man was the muscled frontman for toy manufacturer Mattel’s Masters of the Universe franchise. He-Man was the epitome of a hulking superhero warrior but also became an icon within the LGBTQ+ community.

Daily GK Update- 1st Jan, 2022

 

NATIONAL UPDATES:

 

1. Centre declares Soya Meal as an Essential Commodity up to 30th June, 2022: The Centre imposed stock holding limits on soya meal, which is used as a raw material in the poultry feed industry, till June 2022 to curb hoarding as well as check price rise. The limits will be in place till June 30, 2022 and an order in this regard was issued with effect from December 23. Besides, the government has notified an order under the Essential Commodities Act to declare ‘soya meal’ as an essential commodity up to June 30, 2022 by amending the Schedule of the Essential Commodities Act, 1955.

 

2. Good Governance Index 2021: Gujarat topped the ranking: Good Governance Index 2021 was launched by Union Minister Amit Shah on the occasion of the Good Governance Day. GGI 2021 was prepared by the Department of Administration Reforms and Public Grievances (DARPG). The GGI 2021 framework covered 10 sectors and 58 indicators. The aim of the Good Governance Index is to create a tool that can be used uniformly across the states for assessing the impact of various interventions that are taken up by Central and State Governments.

Top ranking states in sectors as well as composite ranks:

 

Sectors	Group A	Group B	NE & Hill States	UTs
Agriculture and Allied Sectors	Andhra Pradesh	Madhya Pradesh	Mizoram	D & N Haveli
Commerce & Industries	Telangana	Uttar Pradesh	J&K	Daman & Diu
Human Resource and Development	Punjab	Odisha	Himachal Pradesh	Chandigarh
Public Health	Kerala	West Bengal	Mizoram	A & N Island
Public Infrastructure and Utilities	Goa	Bihar	Himachal Pradesh	A & N Island
Economic Governance	Gujarat	Odisha	Tripura	Delhi
Social Welfare & Development	Telangana	Chhattisgarh	Sikkim	D & N Havelli
Judicial & Public Security	Tamil Nadu	Rajasthan	Nagaland	Chandigarh
Environment	Kerala	Rajasthan	Manipur	Daman & Diu
Citizen-Centric Governance	Haryana	Rajasthan	Uttarakhand	Delhi
Composite	Gujarat	Madhya Pradesh	Himachal Pradesh	Delhi

 

3. Nitin Gadkari Launches ‘Intelligent Transport System’ On Delhi Expressway: In an attempt to to minimize traffic woes and enhance safety of commuters, Union Minister for Road Transport and Highways Nitin Gadkari launched the first Intelligent Transport System on Eastern Peripheral Expressway at Dasna, Ghaziabad. Nitin Gadkari said India needs to improve its road engineering as every year, around 1.5 lakh people are killed in 5 lakh accidents across the country. The ITS can detect any accident and receive alerts to ensure that ambulance reaches the spot within 10-15 minutes. While the speed limit on the 135-km expressway is 120 kmph for cars, the road ministry is working to revise speed limits for different categories of vehicles.

 

4. A new book titled “The Modi Gambit: Decoding Modi 2.0” by Sanju Verma: Sanju Verma, an economist and the BJP National Spokesperson, has authored a new book titled “The Modi Gambit: Decoding Modi 2.0”. The book features the various achievement in the last 2 years of Prime Minister Narendra Modi’s 2nd term as PM of India. The foreword of the book is written by Padma Shri Mohandas Pai and the Afterword is written by ace journalist, Anand Narasimhan, Managing Editor at CNN News 18.

 

5. DRDO Celebrates 64th Foundation Day on 1st January 2022: The Defence Research and Development Organisation (DRDO) has observed the 64th Foundation Day of its establishment on January 01, 2022. DRDO was established in 1958 with just 10 laboratories to enhance the research work in the Defence sector. At that time, it was tasked with designing and developing cutting edge defence technologies for the Indian Armed Forces.

As of now, DRDO is working in multiple cutting edge military technology areas, which include aeronautics, armaments, combat vehicles, electronics, instrumentation, engineering systems, missiles, materials, naval systems, advanced computing, simulation, cyber, life sciences and other technologies for defence.

Note: Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.

 

INTERNATIONAL UPDATES:

 

1. CEBR: India to become 3rd largest economy in 2031: The Centre for Economics and Business Research (CEBR) from the United Kingdom has predicted that the Indian economy will become the world’s third-largest by the year 2031. In the year 2022, India is set to regain its sixth position in World Economic League Table (WELT) from France, as per CEBR. In the year 2020, India’s GDP had witnessed a contraction of 7.3% due to the COVID-19 pandemic and subsequent lockdown leading to constraints on economic activity. India has witnessed a large scale spread of infections and has the third-highest death toll worldwide, behind US and Brazil. However, with the help of emergency aid and prompt measures taken by the Indian government, the country has recovered from the second wave of COVID-19.

In Global Scenario: The annual league table also predicted that China will overtake the US to be the largest economy in 2030 (two years later than the forecast in 2021). The world economy is set to surpass $100 trillion for the first time in 2022.

The World Economic League Table 2022 shows the economic forecasts for 191 countries to 2036:

 

Ranking out of 191 countries	2021	2022	2026	2031	2036
India	7	6	5	3	3
United States	1	1	1	2	2
China	2	2	2	1	1
Japan	3	3	3	4	5
Germany	4	4	4	5	4
UK	5	5	6	6	6
France	6	7	7	7	7

 

Note: Center for Economic and Business Report (CEBR) Chairman: Martin Piers; Center for Economic and Business Report Headquarters: London, United Kingdom.

 

OTHER UPDATES:

 

SPORTS

 

1. Paralympic Champion Krishna Nagar Wins 3 Gold at Nationals Championship: Paralympic champion Krishna Nagar continued his good form as he won three gold medals at the 4th National Para Badminton Championship. Nagar repeated his 2019 National’s feat of winning three gold as he emerged champion in all the categories he participated in — singles, men’s doubles and mixed doubles. Krishna easily beat Sudharshan 21-12 21-12 in the men’s singles SH6 category in a game that lasted just 20 minutes. In mixed doubles, Nagar and Nithya Sre breezed past Dhinagaran and Latatai Umrekar in 17 minutes.

 

BANKING AND FINANCE

 

1. BOB Financial and Indian Navy unveil co-branded credit card: BOB Financial Solutions Ltd. (BFSL), a wholly-owned subsidiary of Bank of Baroda (BoB) and the Indian Navy have introduced a co-branded credit card for the personnel of the Indian Navy. The card will be equipped with contactless features and offered on the RuPay platform.

Eligibility:

(1) Indian Navy personnel up to the age of 64 would be eligible to choose from three variants of the card.

(2) While the base variant will be offered as a lifetime free credit card, the other two variants will be offered at joining and annual fees, with welcome gifts and easily achievable spend-based fee reversal/waiver.

(3) As an introductory offer, the joining fee will be waived off for applications in the first three months of launch. The top variant will offer unlimited complimentary domestic airport lounge access and reduced markup on international spends.

 

2. RBI imposed penalty on payment operators One Mobikwik & Spice Money: Reserve Bank of India (RBI) has imposed monetary penalties on two payment system operators, One Mobikwik Systems Private Limited and Spice Money Limited, for violation of norms. Both the payment companies have been slapped with a fine of Rs 1 crore, as per the order issued by the central bank. In a statement, the RBI said it has imposed the penalty on the two payment system operators for “committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSSAct).”

 

BUSINESS AND ECONOMY

 

1. SEBI named Aarati Krishnan as a member of MF advisory panel: Aarati Krishnan, Editorial Consultant with BusinessLine, has been inducted as a member of the Securities & Exchange Board of India’s Advisory Committee on Mutual Funds. The committee, chaired by Usha Thorat, former Deputy Governor of Reserve Bank of India, advises SEBI on matters related to mutual fund regulation to ensure investor protection, development of the industry and disclosure requirements. It suggests measures required to be taken to render the legal framework for mutual funds transparent and simple for investors and constituents.

The committee has 24 members comprising CEOs of leading mutual fund houses as well as representatives from academia, exchanges, consumer interest groups, fund trustees, rating agencies, distribution firms and media.

Note: Securities and Exchange Board of India Founded: 12 April 1992; Securities and Exchange Board of India Headquarters: Mumbai; Securities and Exchange Board of India Agency executive: Ajay Tyagi.

 

2. Eishin Chihana named as new chairman of Yamaha Motor India Group: India Yamaha Motor (IYM) Pvt Ltd. has announced that Eishin Chihana has taken charge of the Group’s India operations as its new Chairman. He has replaced Motofumi Shitara. Chihana has been associated with Yamaha Motor Company and its group companies across the globe since 1991.

Eishin Chihana holds strong expertise across different verticals like Sales, Marketing and Business Management, with a major focus on Motorcycle Business Operations in European, North American, African, Middle Eastern and ASEAN markets. His experience also includes managing overseas sales of a wide variety of Yamaha Motor’s product ranges, not only Motorcycles but also ATVs, Marine Engines, Personal Watercrafts and Generators.

 

AWARDS AND HNOURS

 

1. Viral Desai bagged “Global Environment And Climate Action Citizen Award 2021”: Viral Sudhirbhai Desai, an industrialist from Surat, who is popularly known as the Greenman or green man of Gujarat has been honoured with the Global Environment and Climate Action Citizen Award 2021. Among the 28 personalities from 11 countries (which includes the United Kingdom(UK), the United States(US), New Zealand, France, and Malaysia,) who were honoured with this award, Viral Desai was the only Indian to win the honour for climate change.

 

2. HDFC Bank won CII Dx award for ‘Most Innovative Best Practice’ 2021: HDFC Bank has been named under ‘Most Innovative Best Practice’ at the coveted Confederation of Indian Industry (CII) Digital Transformation Award 2021 or CII DX Award 2021. It will be recognized for the HDFC’s efforts in world-class financial inclusion in Village Level Executive (VLE) centres along with the Government of India’s Common Service Centres (CSC).

 

DEFENCE

 

1. DRDO successfully conducted flight test of HEAT ‘Abhyas’: Defence Research and Development Organisation (DRDO) has successfully conducted a flight test of Indigenously developed High-speed Expendable Aerial Target (HEAT) ‘Abhyas’ from Integrated Test Range at Chandipur off Odisha coast. During its trial, a high subsonic speed trajectory at a very low altitude with high endurance was demonstrated. It is Developed by Aeronautical Development Establishment (ADE), DRDO laboratory along with other laboratories.

About the HEAT Abhyas:

(1) HEAT Abhyas demonstrated a high subsonic speed trajectory at a very low altitude with high endurance during the flight test. The two boosters provided initial acceleration during launch and a small turbojet engine was used to sustain the high subsonic speed with long endurance.

(2) The indigenous unmanned aerial target system has been developed by DRDO’s Bengaluru-based laboratory- Aeronautical Development Establishment (ADE). Other DRDO laboratories also supported its development to ensure it meets the requirement of the aerial targets of the Indian Armed forces.

Note: Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.