Daily GK Update- 8th Feb, 2022

 

NATIONAL UPDATES:

 

1. GoI approved renaming of three places in Madhya Pradesh 2022: The government of India (GoI) has approved the renaming of 3 places in Madhya Pradesh, Hoshangabad Nagar as “Narmadapuram”, Shivpuri as “Kundeshwar Dham” and Babai as “Makhan Nagar”. In 2021, the government of MP led by Shivraj Singh Chouhan has proposed the renaming of the 3 places in Madhya Pradesh. The approval for the renaming was granted by the Ministry of Home Affairs (MHA). The Hoshangabad Nagar named after Hoshang Shah, the first formally appointed Sultan of the Malwa Sultanate of Central India was renamed as Narmadapuram. Babai has been renamed after the renowned journalist and poet Makhanlal Chaturvedi. Makhanlal Chaturvedi was born in Babai, MP. The government has named a national university of journalism and communication at Bhopal after Makhanlal in 1992.

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

 

2. Swarajability: India’s first AI-based job platform for persons with disabilities: The Indian Institute of Technology (IIT-Hyderabad) has launched the beta version of ‘Swarajability’, a job portal powered by artificial intelligence that helps people with disabilities acquire relevant skills and find jobs. The platform will analyse the profiles of the job seekers and suggest the skills they would require to become eligible. A platform that addressed this challenge would help this vulnerable section of the population.

The institute has developed the platform in association with Youth4Jobs, Visual Quest and Kotak Mahindra Bank Ltd. While IIT-H offers its expertise in AI, Visual Quest India has developed the platform. Youth4Jobs provides skilling services to job seekers. The project is funded by Kotak Mahindra Bank. There are 21 million persons with disabilities in the country. About 70 per cent of them are either unemployed or underemployed.

 

3. KVIC cancels license of oldest Khadi Institution “Khadi Emporium”: Khadi and Village Industries Commission (KVIC) has cancelled the “Khadi Certification” of its oldest Khadi Institution named Mumbai Khadi & Village Industries Association (MKVIA). This MKVIA was running the popular “Khadi Emporium” at Metropolitan Insurance House, Mumbai since 1954. KVIC has cancelled the license of MKVIA as the latter had started selling fake Khadi products, which was against the “zero-tolerance” policy of KVIC against the sale of spurious/non-Khadi products.

Why was this step taken?

(1) The action came after KVIC found that the said Khadi Emporium at D.N. Road was selling non-Khadi products in the guise of genuine Khadi. During a routine inspection, KVIC officials collected samples from the Emporium that were found to be non-Khadi products.

(2) KVIC issued a legal notice to MKVIA for flouting the norms of the “Khadi Certificate” and “Khadi Mark Certificate” issued by the Commission. With the cancellation of the registration, Khadi Emporium ceases to be a genuine Khadi Outlet and is no longer permitted to sell Khadi products from the Emporium.

(3) KVIC is also contemplating legal action against the MKVIA for criminal breach of trust and cheating the public at large by misusing the credibility and popularity of brand Khadi.

Note: KVIC Founded: 1956; KVIC Headquarters: Mumbai; KVIC Chairperson: Vinai Kumar Saxena; KVIC Parent agency: Ministry of Micro, Small and Medium Enterprises.

 

4. West Bengal launch open-air classroom programme ‘Paray Shikshalaya: West Bengal government has launched an open-air classroom programme Paray Shikshalaya (Neighbourhood Schools) for primary and pre-primary students. Under the ‘Paray Shikshalaya’ project, primary and pre-primary students of government schools will be taught in open spaces. The state government will also provide mid-day meals to the students of ‘Paray Shikshalaya’. The para teachers and primary school teachers would be part of this project. They will provide elementary education to children of Class 1-5.

Note: Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.

 

5. Professor Dinesh Prasad Saklani named as new NCERT director: Professor Dinesh Prasad Saklani has been appointed as the new Director of the National Council of Educational Research and Training (NCERT). He has replaced Hrushikesh Senapaty, who finished his term a year ago. The new director has been appointed for a period of five years with effect from the date of assumption of charge of the post, or till he attains the age of 65 years, or until further orders, whichever is earlier.

Note: NCERT Headquarters: New Delhi; NCERT Founder: Government of India; NCERT Founded: 1961.

 

INTERNATIONAL UPDATES:

 

1. Safer Internet Day: 8th February: Safer Internet Day is observed every year on the second day of the second week of February with the aim of providing a safer and better internet, where every user gets to use the internet responsibly and without getting their data leaked. This year February 8 is being celebrated as Safer Internet Day across the world. This year marks the 19th edition of Safer Internet Day with actions taking place right across the globe. This year, the occasion is being marked under the theme ‘Together for a better internet’, calling upon all stakeholders to join together to make the internet a safer and better place for all, and especially for children and young people.

History of the day: Safer Internet Day started as an initiative of the European Union’s (EU’s) SafeBorders project in 2004 and was taken up by the Insafe network as one of its earliest actions in 2005, according to its website. It is now celebrated in nearly 200 countries across the world. From cyberbullying to social networking to digital identity, each year Safer Internet Day aims to raise awareness of emerging online issues and current concerns.

 

OTHER UPDATES:

 

SPORTS

 

1. Africa Cup Of Nations: Senegal Beat Egypt 2022: Senegal has defeated Egypt in the Africa Cup of Nations championship winning the continental championship for the first time on penalty kicks at Olembe Stadium in Yaoundé, Cameroon. Sadio Mane scored the winning spot-kick as Senegal claimed a first-ever Africa Cup of Nations title with a 4-2 penalty shootout victory over seven-time winners Egypt. The final had ended 0-0 after extra time. Senegal had lost two finals previously, including at the last African Cup in Egypt in 2019, when Mané was left inconsolable. This time he delivered the winning moment.

 

2. Sri Lankan fast bowler Suranga Lakmal announces retirement: Veteran Sri Lankan fast bowler Suranga Lakmal has announced to retire from international cricket, after Sri Lanka’s upcoming tour of India. The 34-year-old right-arm fast bowler and right-handed batsman aim to join the English county club Derbyshire after retirement. The Derbyshire County Cricket Club has signed up Lakmal on a two-year contract. Lakmal has represented Sri Lanka in 165 international matches across formats, in his international career spanning over 12 years.

 

BANKING AND FINANCE

 

1. RBI to observe Financial Literacy week 2022: February 14-18: The Reserve Bank of India will observe February 14-18, 2022 as Financial Literacy week 2022. Reserve Bank of India (RBI) has been conducting Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme across the country. Banks have been advised to disseminate the information and create awareness among its customers and the general public. The theme of Financial Literacy week 2022 is: “Go Digital, Go Secure”. The theme is aligned with one of the strategic objectives of the National Strategy for Financial Education: 2020-2025.

The focus of Financial Literacy Week this year will be on the following three topics with a view to ensure safe and secure Digital Transactions: (1) The convenience of digital transactions; (2) Security / feel secure and no fear for digital transactions; (3) Protection to customers

 

2. ICICI lombard tie-up with Airtel Payments Bank for Cyber Insurance: ICICI Lombard General Insurance has partnered with Airtel Payments Bank to offer cyber insurance to customers of the bank. This Cyber Insurance policy provides financial protection to customers against potential financial fraud relating to banking, credit or debit card; identity theft; phishing or email spoofing etc. Airtel Payments Bank customers can purchase this cyber insurance policy within minutes using the Airtel Thanks app.

About the Policy:

(1) The insurance comes with zero waiting period and allows users to make multiple claims multiple times during the policy tenure, within the limits of the insured amount opted for.

(2) The policy will provide a 90-day discovery period followed by a seven-day reporting period.

(3) This means that if the insured discovers an unauthorised transaction processed from their card or account on the 90th day from the transaction date, they can still report it in the next seven days to the issuing bank or mobile wallet company.

Note: Airtel Payments Bank’s MD and CEO: Anubrata Biswas; Airtel Payments Bank Headquarters: New Delhi; Airtel Payments Bank Founded: January 2017;

ICICI Lombard General Insurance Headquarter: Mumbai, Maharashtra; ICICI Lombard General Insurance MD & CEO: Bhargav Dasgupta.

 

BUSINESS AND ECONOMY

 

1. ADB lends record USD 4.6 bn loans to India in 2021: As per the data official released by the Asian Development Bank (ADB), it provided a record USD 4.6 billion in sovereign lending to India in 2021. This included USD 1.8 billion towards coronavirus disease (COVID-19) pandemic response. The ADB’s regular funding programme to India is made to support transport, urban development, finance, agriculture, and skills building. The ADB’s project portfolio in 2021 reflected the Indian government’s focus on transforming cities into economically vibrant and sustainable communities. The USD 4.6 billion was committed by ADB for 17 loans. The USD 1.8 billion COVID-19-related assistance included USD 1.5 billion for vaccine procurement and USD 300 million to strengthen primary health care in urban areas and the country’s future pandemic preparedness.

Note: Asian Development Bank Headquarters: Mandaluyong, Philippines; Asian Development Bank President: Masatsugu Asakawa (from 17 January 2020); Asian Development Bank Membership: 68 countries; Asian Development Bank Founded: 19 December 1966.

 

OBITUARIES

 

1. R Rajamohan, who led the 1st Asteroid Discoveries In Independent India, passes away: Professor R Rajamohan, who was an astronomer at the Indian Institute of Astrophysics (IIA), Bengaluru, for decades, passed away. He is best known for his Kalki Project, which aimed to discover asteroids using the 48-cm Schmidt telescope in Kavalur VBO and discovered a new asteroid, number 4130, from India. This was the first asteroid discovered in India in 104 years.

 

2. ‘Kabir of Karnataka’ Ibrahim Sutar passes away: Padma Shri awardee and social worker, Ibrahim Sutar has passed away in Karnataka following a cardiac arrest. Fondly referred to as the “Kabir of Kannada”, Sutar was known for his work towards spreading social and communal harmony. Ibrahim is popular among the public, especially in north Karnataka, for his spiritual discourses. He was awarded the Padma Shri in 2018.

Daily GK Update- 7th Feb, 2022

 

NATIONAL UPDATES:

 

1. PM Modi inaugurates 50th Anniversary Celebrations of Hyderabad-based ICRISAT: Prime Minister Narendra Modi has inaugurated the 50th Anniversary celebrations of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) in Patancheru, Hyderabad. During the occasion, PM also inaugurated two research facilities of ICRISAT, which were Climate Change Research Facility on Plant Protection and Rapid Generation Advancement Facility. These two facilities are dedicated to the smallholder farmers of Asia and sub-Saharan Africa. Prime Minister also unveiled a specially designed logo of ICRISAT and launched a commemorative stamp issued on the occasion. Its objective is to conduct agricultural research for rural development, in Asia & sub-Saharan Africa.

Note: ICRISAT Headquarters: Patancheruvu, Hyderabad; ICRISAT Founded: 1972; ICRISAT Founders: M. S. Swaminathan, C. Fred Bentley, Ralph Cummings.

 

2. CMIE Report: India’s unemployment rate in January 2022 stood at 6.57%: The unemployment rate in India in January 2022 fell sharply to 6.57%, according to the data from the economic think-tank, the Centre for Monitoring Indian Economy (CMIE). This is the lowest rate witnessed since March 2021. In December 2021, the unemployment rate rose to a four-month high of 7.91%, compared to 6.97% in November. CMIE is a Mumbai-based independent non-government entity that serves both as an economic think-tank as well as a business information company.

State-wise lowest unemployment rate: Telangana recorded the lowest unemployment rate in January at 0.7%; This was followed by Gujarat at 1.2%, Meghalaya at 1.5%, Odisha at 1.8% and Karnataka at 2.9%.

State-wise highest unemployment rate: Haryana witnessed the highest unemployment rate of 23.4% in January 2022. It was followed by Rajasthan (18.9%), Tripura (17.1%), Jammu & Kashmir (15%) and Delhi (14.1%).

About the Rural Unemployment: Area wise data showed that the rural unemployment in January 2022 declined to 5.84% as against 7.28% in December 2021. Urban unemployment was recorded at 8.16% compared to 9.30% in December 2021.

 

3. GoI named Sonali Singh as Controller General of Accounts (CGA) on add. Charge: The Government of India has appointed Sonali Singh to hold the additional charge of the Controller General of Accounts (CGA), under the Department of Expenditure, Ministry of Finance, with effect from February 01, 2022. She has been appointed in place of Dipak Dash, who superannuated on January 31, 2022. Sonali Singh is a 1987 batch officer of the Indian Civil Accounts Service (ICAS). She is serving as the Additional Controller General of Accounts since October 2019. Prior to that, she had also served as Additional Secretary at Central Vigilance Commission.

 

4. JNU Vice-Chancellor M Jagadesh Kumar named as new Chairman of UGC: The government of India has appointed JNU (Jawaharlal Nehru University) Vice-Chancellor, M Jagadesh Kumar as the new Chairman of the University Grants Commission (UGC). He has been appointed for a period of five years or till he attains the age of 65 years, whichever is the earliest. The post of the UGC Chairman was vacant since December 07, 2021, after Prof D P Singh resigned upon attaining 65 years of age. He was appointed in 2018.

Note: University Grants Commission Founded: 1956; University Grants Commission Headquarters: New Delhi.

 

5. A book titled ‘Golden Boy Neeraj Chopra’ by Navdeep Singh Gill released: A short biography of Indian athlete Neeraj Chopra has titled ‘Golden Boy Neeraj Chopra’ authored by sports author Navdeep Singh Gill has been released. Neeraj Chopra won a Gold medal in Javelin Throw at the 2020 Tokyo Olympics. The biography on Tokyo Olympics-2021 gold medalist Neeraj Chopra was released by the chairperson of Punjab Kala Parishad Surjit Patar and president of Punjabi Sahit Akademi Lakhwinder Singh Johal, amid the presence of the author and his family members.

The essence of the book: The book has 72 pages and covers the life history and achievements of Neeraj Chopra right from his childhood to the Tokyo Olympics. The book very aptly covers his sporting techniques, numerous awards and contemporaries in different chapters with coloured photos in each chapter.

 

6. MS Dhoni’s first look from graphic novel ‘Atharva’: The Origin’ released: Virzu Studios in association with MIDAS Deals Pvt Ltd has released the motion poster of its upcoming graphic novel, Atharva – The Origin. Cricketer Mahendra Singh Dhoni has been portrayed as the superhero Atharva in this graphic novel. The motion poster features a rugged looking Dhoni, giving fans a glimpse into the world of Atharva and also a sneak peek into the first look of him as a superhero. The graphic novel authored by Ramesh Thamilmani features over 150 lifelike illustrations which present the gripping, racy narrative. It is produced by Vincent Adaikalaraj and Ashok Manor. Reportedly, the makers are also planning to make a web-series based on the novel.

 

INTERNATIONAL UPDATES:

 

1. Queen Elizabeth II marks 70th anniversary of her rule 2022: The United Kingdom has marked the 70th anniversary of Queen Elizabeth II’s rule, the queen looked to the future of the monarchy. She surpassed Louis XIV of France as the longest-reigning monarch of a sovereign state. She became the longest-lived British monarch on 21 December 2007. In 2017, she became the first British monarch to commemorate a Sapphire Jubilee. Elizabeth II is the Queen of the United Kingdom and 14 other Commonwealth realms. On 6 February 1952, Elizabeth became queen after the death of her father King George VI.

Note: Prime minister of United Kingdom: Boris Johnson; Capital of the United Kingdom: London.

 

2. NASA will retire International Space Station in 2031: According to NASA, the International Space Station will continue its operation until 2031 and then crash into an uninhabited area in the Pacific Ocean known as Point Nemo. It will be replaced with three free-flying space stations to continue the work after ISS’s retirement. NASA also selected Houston-based Axiom Space to provide the ISS’s first commercial module.

For over two decades, the International Space Station (ISS) has been orbiting Earth at a speed of about eight kilometres per second, while an international crew of astronauts and cosmonauts onboard conducted groundbreaking scientific investigations that have thrown open the doors for deep space exploration. But now NASA has announced that the spacecraft will cease operations in 2031, after which it will fall out of orbit and plunge into the waters of the South Pacific Ocean.

History of International Space Station: The International Space Station was the brainchild of former US President Ronald Reagan, who in 1984 proposed building a permanently inhabited spacecraft in cooperation with a few other countries. In 1998, the first piece of the space station, a control module, was launched into space onboard a Russian rocket. About two weeks later, a crew onboard the US’ Endeavour space shuttle attached the control module with another part, the Unity node.

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

 

OTHER UPDATES:

 

SPORTS

 

1. IOC approves proposal to include new sports at 2028 Olympics: International Olympic Committee (IOC) has approved a proposal to include Surfing, Skateboarding and Sport Climbing for the 2028 Summer Olympics Games that will be organized in Los Angeles, United States. The 2028 Summer Olympics are officially known as the Games of the XXXIV Olympiad, or Los Angeles 2028 is a forthcoming event scheduled to take place from July 21 – August 6, 2028, in Los Angeles, California, US. The 2024 Summer Olympics Games will be organized in Paris, France. With this Paris becomes only the second city to host 3 Summer Olympic games. Surfing, Skateboarding and Sport Climbing had made their Olympic debut in Tokyo Olympics 2021 and will also be included in the “additional” list for Paris in 2024. Boxing, weightlifting and modern pentathlon also have the chance to be included in upcoming Olympics games.

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

 

2. Sourav Ganguly laid the foundation stone of world’s third-largest cricket stadium: Rajasthan Chief Minister, Ashok Gehlot and BCCI President Sourav Ganguly laid the foundation stone of the world’s third-largest cricket stadium in Jaipur. The International Cricket Stadium in Jaipur will be the second-largest cricket stadium in India and the third-largest in the world. The new international stadium will be built by the Rajasthan Cricket Academy (RCA) on the Jaipur-Delhi bypass, over 100 acres of land in Jaipur. The stadium will have a seating capacity of 75,000 spectators.

Key points: Currently, Narendra Modi Stadium (former Motera Stadium) in Ahmedabad is the world’s largest stadium with a capacity of 132,000 spectators. The second-largest stadium is Australia’s Melbourne Cricket Ground (MCG) which has a capacity of 1,00,024 spectators.

 

BANKING AND FINANCE

 

1. LIC tie-up with Policybazaar for digital distribution of life insurance: Life Insurance Corporation (LIC) has tied up with Policybazaar to digitally offer a wide range of Life Insurance and investment products to its customers across India. This is LIC’s first association with a private insurance aggregator, which has mainly relied on its 1.33 million agents for distributing products. To facilitate seamless digital distribution of life insurance products and boost financial inclusion across India.

The benefit of the tie-up: The alliance will provide insurance services in smaller cities to ensure financial inclusion and social security. It will increase its penetration digitally in rural and remote areas and offer a wide range of term and investment products to the customers.

Note: Life Insurance Corporation of India Founded: 1956; Life Insurance Corporation of India Headquarters: Mumbai, Maharashtra; Life Insurance Corporation of India Chairperson: M R Kumar.

 

BUSINESS AND ECONOMY

 

1. Kotak General Ins. partners CARS24 to offer Motor Insurance for used cars: Kotak Mahindra General Insurance Company has signed an agreement with Cars24 Financial Services Private Limited (CARS24 Financial Services) to provide motor insurance services to used car buyers. Under the partnership, used car buyers from Cars24 will be directly provided with Kotak General Insurance’s comprehensive motor insurance plans.

The partnership will provide a trustworthy and faster way to avail of motor insurance with a fully digital insurance process. Customers can also avail of cashless claims servicing at Kotak General Insurance’s platform of garages and enable convenient claim settlement services.

Note: Kotak Mahindra General Insurance Headquarters: Mumbai, Maharashtra; Kotak Mahindra General Insurance MD & CEO: Suresh Agarwal.

 

AWARDS AND HONOURS

 

1. CII presents DX 2021 award to Karnataka Bank: Karnataka Bank has been awarded the digital transformation award, ‘DX 2021 Awards’, in recognition of the “innovative” best practice ‘KBL VIKAAS’, by the Confederation of Indian Industry (CII) for Best Practice in Digital Transformation. KBL VIKAAS was launched by the Karnataka Bank in 2017. It has enabled the bank to implement digital capabilities. The bank recently launched ‘KBL NxT’ as part of 2.0 of ‘KBL VIKAAS’. DX Award is given to organizations that have made valuable contributions in the digital field.

Note: Karnataka Bank Ltd Chairman: Pradeep Kumar Panja; Karnataka Bank Headquarters: Mangalore; Karnataka Bank Founded: 18 February 1924; Karnataka Bank CEO: Mahabaleshwara M S.

 

OBITUARIES

 

1. BJP’s first torchbearer in Lok Sabha, C Janga Reddy passes away: Veteran Bharatiya Janata Party (BJP) leader, Chandupatla Janga Reddy has passed away in Hyderabad following health issues. He was a native of Warangal and a former MLA in Andhra Pradesh. He is best known for his time as a Member of Parliament in the 8th Lok Sabha in 1984, which also marked the BJP’s debut in the Lok Sabha, following Indira Gandhi’s assassination. Reddy was one of the only two BJP MPs who got elected to the Lok Sabha in 1984 in 543 Parliament constituencies. The other was A K Patel. He was elected to the Legislative Assembly in undivided Andhra Pradesh thrice.

 

2. Former President of Greece Christos Sartzetakis passes away: Former Greek President Christos Sartzetakis has passed away at the age of 92 years due to respiratory failure in Athens, Greece. He was a Greek jurist and a judge of the Supreme Court, who resisted against the militants during the 1967-1974 Rule of the Colonels. He served as the President of Greece for a four-year term (1985 to 1990), after getting nominated by the socialist PASOK party.

Daily GK Update- 6th Feb, 2022

 

NATIONAL UPDATES:

 

1. India announces diplomatic boycott of opening and closing ceremony of Winter Olympics: The 2022 Winter Olympics has kicked off on February 04, 2022, in Beijing, China and will continue till February 20, 2022. The Opening Ceremony was held at Beijing’s National Stadium, also known as the Bird’s Nest. However, India had announced the diplomatic level boycott of the Beijing Winter Olympics opening and closing ceremony. This means that no Indian officials will attend the opening and closing ceremony. However, the country has sent one of its athletes, Arif Khan (skier), to attend the event.

Reason behind the boycott: China has picked a Chinese soldier (Qi Fabao) as Olympic torchbearer, who was involved in the Galwan incident on June 15, 2020, which had resulted in the death of 20 Indian soldiers, including a Colonel.

About the 2022 Winter Olympics

(1) It is the first Winter Olympic Games in China and the second overall Olympics in China.

(2) Beijing will be the first city in the world to have hosted both the Summer (2008) and Winter Olympics. The vent will include a record of 109 events over 15 disciplines in seven sports.

(3) Emblem for the 2022 Winter Olympics: “Winter Dream”.

(4) Moto for the 2022 Winter Olympics: Bing Dwen Dwen.

(5) The official slogan for the 2022 Winter Olympics:  “Together for a Shared Future”.

 

2. Uttar Pradesh wins best state tableau of Republic Day parade 2022: The tableau of Uttar Pradesh has been picked as the best tableau among the 12 States/UTs which participated in the Republic Day parade on January 26, 2022. The theme of the tableau of Uttar Pradesh was ‘One District One Product and Kashi Vishwanath Dham’. A total of 12 states and union territories had participated in the Republic Day parade on January 26. The second place went to Karnataka for its tableau based on ‘cradle of traditional handicrafts’ while the third position went to Meghalaya for its tableau based on ‘Meghalaya’s 50 years of Statehood and its tribute to women-led cooperative societies & SHGs’.

Other winners of Republic Day parade 2022:

(1) Best marching contingent among three Services: Indian Navy

(2) Best marching contingent among CAPF/other auxiliary forces: Central Industrial Security Force (CISF)

(3) The tableaux of the ministry of education and the ministry of civil aviation have been declared as joint winners in the category of central ministries and departments. The theme of the tableau of the ministry of education and the ministry of skill development and entrepreneurship was ‘National Education Policy. The tableau of the ministry of civil aviation was based on the theme ‘Ude Desh Ka Aam Nagrik’.

Popular Choice Awards: The popular choice category award was introduced for the first time in 2022, wherein the general public was invited to vote for the best marching contingents and best tableaux through the MyGov platform. The online poll was conducted between January 25-31, 2022. List of winners:

(1) Best state/UTs Tableau: Maharashtra (Theme ‘Biodiversity and State Bio-symbols of Maharashtra’.);

(2) Best marching contingent among three Services: Indian Air Force;

(3) Best marching contingent among CAPF/other auxiliary forces: Central Reserve Police Force (CRPF);

(4) Central Ministry: Ministry of Communication/Department of Posts (Theme ‘India Post: 75 years @ Resolve – Women Empowerment’.)

 

3. Prime Minister Narendra Modi unveiled ‘Statue of Equality’ 2022: Prime Minister Narendra Modi has dedicated to the nation 216-feet tall ‘Statue of Equality in Hyderabad to commemorate the 11th-century Bhakti saint Ramanujacharya. The statue has been conceptualised by Chinna Jeeyar Swami of Sri Ramanujacharya Ashram. The inauguration of the statue is a part of the 12-day Sri Ramanuja Sahasrabdi Samaroham, the ongoing 1000th birth anniversary celebrations of the Bhakti saint. A 3D presentation on the life and teachings of the saint will also be showcased during the event.

Structure of the Statue:

(1) The statue is made of ‘panchaloha’, a combination of five metals- gold, silver, copper, brass, and zinc. It is among one of the tallest metallic statues in sitting positions in the world.

(2) The 216-feet tall ‘Statue of Equality statue is mounted on a 54-feet high base building, called ‘Bhadra Vedi’.

(3) The floors of the building are dedicated to a Vedic digital library and research centre, ancient Indian texts, a theatre, an educational gallery detailing works of Sri Ramanujacharya.

About the Ramanujacharya: Ramanuja or Ramanujacharya was an Indian philosopher, Hindu theologian, social reformer, and one of the most important exponents of the Sri Vaishnavism tradition within Hinduism. His philosophical foundations for devotionalism were influential to the Bhakti movement. Ramanujacharya promoted the idea of equality in all aspects of life including faith, caste and creed.

 

INTERNATIONAL UPDATES:

 

1. NATO chief Jens Stoltenberg to head Norway central bank: The North Atlantic Treaty Organization (NATO) chief, Jens Stoltenberg will take over as Norway’s central bank Governor at the end of the year. The appointment comes amid escalating tensions between the West and Russia. Western nations fear Moscow has plans to invade Ukraine, which aspires to join the NATO alliance. But Mr Stoltenberg, a 62-year-old trained economist, insisted that he would stay on as NATO Secretary-General until the end of his term in October. Norway’s central bank determines monetary policy but also manages the country’s enormous sovereign wealth fund, the biggest in the world.

Note: NATO Founded: 4 April 1949, Washington, D.C., United States; NATO Headquarters: Brussels, Belgium.

 

2. International Day of Zero Tolerance to Female Genital Mutilation: 6th February: International Day of Zero Tolerance for Female is observed on 6th February globally. This day is sponsored by the United Nations for their efforts to eradicate female genital mutilation. It was first introduced in 2003. This year theme of International Day of Zero Tolerance for Female: Accelerating Investment to End Female Genital Mutilation.

About the Female genital mutilation: Female genital mutilation (FGM) comprises all procedures that involve altering or injuring the female genitalia for non-medical reasons and is recognized internationally as a violation of the human rights, the health and the integrity of girls and women. Girls who undergo female genital mutilation face short-term complications such as severe pain, shock, excessive bleeding, infections, and difficulty in passing urine, as well as long-term consequences for their sexual and reproductive health and mental health.

 

OTHER UPDATES:

 

SPORTS

 

1. U19 World Cup 2022: India beat England in final to win 5th title: India defeated England by four wickets to clinch a record-extending fifth title at the Sir Vivian Richards Stadium, Antigua. India added the fifth title to their collection, having previously won the trophy in 2000, 2008, 2012, 2018. Yash Dhull becomes the fifth Indian captain to win the title after Mohammad Kaif, Virat Kohli, Unmukt Chand and Prithvi Shaw. Earlier, England opted to bat after winning the toss but they were shot out by India for 189 in 44.5 overs. India chases down the target of 190 with 2.2 overs to spare.

Player of the Match: India’s Raj Angad Bawa was announced Player of the Match of the ICC Under19 World Cup 2022 Final between India and England. The Indian all-rounder picked 5/31, the best bowling figures for any final in the history of the championship and also scored crucial 35 runs with the bat to help his team in its 4 wicket win.

Player of the series: South Africa’s Dewald Brevis who broke all records to score 506 runs in only six innings, the most for any batter in any Under19 World Cup ever, was named Player of the Series for his record-breaking showing.

 

BANKING AND FINANCE

 

1. Govt of India has done a Switch Operation of Rs. 1,19,701 crores: The Government of India has done a conversion switch transaction of its securities with the Reserve Bank of India (RBI) for an amount of 1,19,701 crores (face value). The transaction involved buying back securities that are being matured in FY 2022-23, FY 2023-24 and FY 2024-25 from the RBI and also issuing fresh securities for equivalent market value, to make the transaction cash neutral. The transactions were carried out using Financial Benchmarks India Private Limited (FBIL) prices as of January 28, 2022. The GOI undertakes switch operations with RBI and also with market participants to smoothen the liability profile as well as for market development.

Government securities: They are the debt instruments. They are issued by GoI. The two categories of government securities are short term instruments that mature in 91 days, 182 days or 364 days and long term instrument that matures within 5 years to 40 years. The securities are cleared by the clearing Corporation of India Limited. These securities are issued through auctions conducted by RBI.

 

BUSINESS AND ECONOMY

 

1. Brand Finance report: LIC 10th most valued insurance brand globally: As per a brand valuation report released by Brand Finance, Life Insurance Corporation has been ranked at 10th in the list of insurance brands globally. LIC is the only Indian insurance company in the top 10 list. LIC has a valuation of USD 8.656 billion (around Rs 64,722 crore). Of the top 10, as many as 5 are Chinese insurance companies, with by Ping An Insurance emerging as the world’s most valuable insurance brand, despite recording a 26 per cent drop in brand value. The US has two companies in the top 10, while France, Germany, and India have one each in the list.

As per Brand Finance, the market value of LIC will become Rs 43.40 lakh crore (USD 59.21 billion) by 2022, and Rs 58.9-lakh crore (USD 78.63 billion) by 2027. It must be noted that LIC was ranked as the 206th most valuable brand in 2021, from 238th slot in 2020.

Note: LIC Chairperson: M R Kumar; LIC Headquarters: Mumbai; LIC Founded: 1 September 1956.

 

2. IndiGo’s co-founder Rahul Bhatia named as first MD of the company: The low-cost Indian airline, IndiGo has appointed its co-founder and promoter Rahul Bhatia as the Managing Director (MD) of the company with immediate effect. He is the first-ever MD of Indigo, because before this the company never had a managing director. Ronojoy Dutta is the CEO of the Indigo. The board of directors, during its meeting, unanimously approved the appointment of Bhatia as the managing director with immediate effect, subject to the approval of the shareholders. IndiGo is back in the black with a net profit for the December quarter at Rs 130 crore. The profit comes after the airline posted a loss for a series of straight quarters.

Note: IndiGo Founded: 2005; IndiGo Headquarters: Gurugram.

 

DEFENCE

 

1. Sea Trials of 1st Sea Sortie of 5th Scorpene Submarine ‘Vagir’ begins: The Indian Navy‘s brand-new submarine, the fifth of the six French-designed Scorpene-class submarines named “Vagir”, sailed out on its first sea sortie and will now undergo rigorous trials before it is delivered to the Navy later this year. The submarine-designated “Yard 11879” during its construction by Mazagon Dock Shipbuilders Limited (MDL) in collaboration with the Naval Group of France will be named “Vagir” after it is commissioned into service.

Note: Chief of Naval Staff: Admiral R Hari Kumar; Indian Navy Founded: 26 January 1950.

 

OBITUARIES

 

1. Veteran actor and Producer Ramesh Deo passes away: Prominent film personality Ramesh Deo, known for playing a diverse range of roles, in Marathi and Hindi movies, passed away due to a heart attack. During his career spanning several decades, the multi-faceted film personality has acted in over 450 Hindi and Marathi feature films, apart from working in several television shows and commercials.

 

2. Legendary singer Lata Mangeshkar passes away: Legendary singer Lata Mangeshkar has passed away at the age of 92 after suffering a multi-organ failure. The Bharat Ratna awardee was admitted to the hospital after being diagnosed with pneumonia and tested positive for the coronavirus disease in January. She is survived by her 3 sisters – Usha Mangeshkar, Asha Bhosle, Meena Khadikar and brother Hridaynath Mangeshkar.

In her seven-decade-long career:

(1) She began her career as a singer back in 1942 and never looked back. She recorded innumerable songs in over 36 Indian and foreign languages.

(2) She gave us musical gems such as Aye Mere Watan Ke Logo, Lag Jaa Gale, Yeh Kahan Aage Hain Hum and Pyar Kiya To Darna Kya, among others.

(3) Having led an eventful and rich life of several milestones, Lata Mangeshkar was conferred with the Dadasaheb Phalke Award in 1990. For her contribution to Indian music, she also was bestowed with Padma Bhushan in 1969 and Bharat Ratna in 2001.

Daily GK Update- 5th Feb, 2022

 

NATIONAL UPDATES:

 

1. US regains top spot as India’s trade partner in 2021: The United States was India’s top trading partner in the calendar year 2021 with a trade of $112.3 billion. The US is followed by China on second. The value of trade between India and China was $110.4 billion. In 2020, China was India’s top trading partner and the US was in the second rank. In 2019 USA was India’s top trading partner and China was on second.

India’s list of top ten trading partners also includes:

(1) USA; (2) China; (3) UAE; (4) Saudi Arab; (5) Switzerland; (6) Hong Kong; (7) Singapore; (8) Iraq; (9) Indonesia and (10) South Korea

 

2. IUCN designates Aravalli Biodiversity Park in Gurugram 2022: The Aravalli Biodiversity Park in Gurugram, Haryana, has been declared as India’s first “other effective area-based conservation measures” (OECM) site. This was informed by the Union ministry of environment, forest and climate change on the occasion of World Wetlands Day. The International Union for Conservation of Nature (IUCN) gives OECM tag to those areas that are not protected but support rich biodiversity. The tag designates the area as a biodiversity hotspot on the international map.

OECM: OECM is a status for a place that has achieved effective in-situ conservation of biodiversity outside protected areas like forests. The park, which once was an abandoned mining pit, was transformed into a lush green forest patch in 10 years. Now, it has about 400 native species of plants.

 

3. IISc. commissions one of India’s most powerful supercomputers ‘Param Pravega’: The Indian Institute of Science (IISc.), Bengaluru, has installed and commissioned Param Pravega, one of the most powerful supercomputers in India. It is also the largest supercomputer in an Indian academic institution. Param Pravega has a total supercomputing capacity of 3.3 petaflops (1 petaflop equals a quadrillion or 1015 operations per second).

Who designed and developed Param Pravega?

The supercomputer has been designed by the Centre for Development of Advanced Computing (C-DAC). It has been developed under the National Supercomputing Mission (NSM), a joint initiative of the Department of Science and Technology (DST) and Ministry of Electronics and Information Technology (MeitY), and implemented by C-DAC and IISc.

 

4. SBI tie-up with Ministry of Culture for Development of Atmanirbhar Bharat Centre for Design: The State Bank of India (SBI) has signed a tripartite Memorandum of Understanding (MoU) with the Indira Gandhi Centre for the Arts (IGNCA) and National Culture Fund (NCF) of the Ministry of Culture, for Development of Atmanirbhar Bharat Centre for Design (ABCD) at L1 Barrack, Red Fort, in Delhi. The main objective of Project ABCD is to highlight, promote and celebrate the products that have the Geographical Indication sign to give a boost to Economic Value Addition to GI products from India. The ABCD project will be implemented by IGNCA, an autonomous organization under the Ministry of Culture through the ministry’s NCF fund. SBI will sponsor the project under CSR with a contribution of Rs. 10 crores for the implementation of the ABCD Project.

 

5. Senior scientist GA Srinivasa Murthy appointed director of DRDL: Senior scientist GA Srinivasa Murthy has been appointed director of Defence Research and Development Laboratory (DRDL) of the Defence Research and Development Organisation (DRDO) in Hyderabad. He joined DRDL in the year 1987 and made significant contributions in the area of structural dynamics, ground resonance testing, electrical integration and checkout for various projects of the missile complex.

 

6. ‘India, That is Bharat: Coloniality, Civilisation, Constitution’ authored by J Sai Deepak: A Trilogy book series titled, ‘India, That is Bharat: Coloniality, Civilisation, Constitution’ is authored by J Sai Deepak and published by Bloomsbury India. The 1st part was released on 15th August 2021, is set to launch the 2nd part in June 2022. Whereas, the 3rd and last parts will be released in June 2023. It is the first part of a comprehensive trilogy, which examines the impact of European ‘colonial consciousness’ (or ‘coloniality’), on Bharat (India). It highlights how colonialism changes the socio-religious culture, history, education, language and racial patterns in India.

The essence of the book: India, That Is Bharat, the first book of a comprehensive trilogy, explores the influence of European ‘colonial consciousness’ (or ‘coloniality’), in particular its religious and racial roots, on Bharat as the successor state to the Indic civilisation and the origins of the Indian Constitution.

 

INTERNATIONAL UPDATES:

 

1. Exim Bank extends a $500 million credit line to Sri Lanka: Export-Import Bank of India (Exim Bank) on behalf of the government of India, extended a line of credit of $500 million to the government of the socialist republic of Sri Lanka for financing the purchase of petroleum products. The fund will be used by the Island nation for the purchase of petroleum products. With the signing of this new LOC agreement, the total LOC extended by Exim Bank to Sri Lanka till date has reached 10, taking the total value of LOCs extended to USD 2.18 billion.

With the signing of this LoC agreement, Exim Bank has now in place 276 lines of credit, covering 61 countries in Africa, Asia, Latin America and the Commonwealth of Independent States (CIS), with credit commitments of around $27.84 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank’s LoCs enable the demonstration of Indian expertise and project execution capabilities in emerging markets.

Note: Export-Import Bank of India Founded: 1982; Export-Import Bank of India Headquarters: Mumbai.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Ravi Mittal named as new Chairman of Insolvency and Bankruptcy Board of India: The former secretary, Department of Sports, Ravi Mittal has been appointed as the Chairman of Insolvency and Bankruptcy Board of India (IBBI), as per the notification issued by the Ministry of Corporate Affairs. He is a 1986 batch IAS officer from Bihar cadre. He will serve as the Chairman of IBBI for a term of five years or till he attains 65 years of age, whichever is early.

About the IBBI: The Insolvency and Bankruptcy Board of India is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies, Insolvency Professionals and Information Utilities in India.

Note: Insolvency and Bankruptcy Board of India Headquarters: New Delhi; Insolvency and Bankruptcy Board of India Founded: 1 October 2016.

 

BUSINESS AND ECONOMY

 

1. NSO First Revised GDP estimates FY21: Indian economy contracts by 6.6%: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released the First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2020-21. The National Statistical Office recently released the first revised GDP estimates for the fiscal year 2021. According to the estimates, the GDP contracted by 6.6%. Earlier, the GDP had contracted by 7.3%. The contraction is mainly due to the COVID pandemic and the lockdown imposed.

The NSO has also revised downward the real Gross Domestic Product (GDP) growth number for 2019-20 to 3.7 per cent as against the earlier estimate of 4 per cent. Under the 1st revision released in January 2021, real GDP or GDP at constant (2011-12) prices for 2019-20 stood at Rs 145.69 lakh crore with 4 per cent growth.

 

2. Vedanta tied up with Union Bank of India to take over syndicated facility: Vedanta Ltd has tied up a facility of Rs 8,000 crores (replacement facility) with Union Bank of India at 7.75% to take over the majority of the syndicated facility after discussions with lenders. During 2020, amid the COVID-19 pandemic, Vedanta Ltd had tied up a syndicated facility of ₹10K crores with the State Bank of India as the lead bank at a running cost of 10.5 per cent.

This replacement facility was availed on December 28, 2021, to take over the existing Syndicated facility to reduce the overall interest cost of the company and to prepay high-cost debt raised at over 10% two years ago.

Note: Union Bank of India Headquarters: Mumbai; Union Bank of India CEO: Rajkiran Rai G.; Union Bank of India Founded: 11 November 1919, Mumbai.

 

3. Sony buys ‘Destiny’ game developer Bungie for $3.6 billion: Sony Group Corp. is purchasing Bungie Inc., the U.S. video game developer behind the popular Destiny and Halo franchises, for $3.6 billion to bolster its stable of game-making studios. The deal announced by Sony Interactive Entertainment is the third significant video-game acquisition this month, following Microsoft Corp.’s purchase of Activision Blizzard Inc. for $69 billion two weeks ago and Take-Two Interactive Corp. snagging mobile game leader Zynga Inc. on Jan. 10. Buying Bungie will give Sony one of the most popular first-person shooter games to compete with the massive Call of Duty series, which Sony’s main rival now owns through Activision.

 

AWARDS AND HONOURS

 

1. Neeraj Chopra nominated for Laureus World Breakthrough of the Year Award: Tokyo Olympics gold medallist, Neeraj Chopra has been nominated for the prestigious 2022 Laureus World Breakthrough of the Year Award. The other 5 nominees are Daniil Medvedev (Australian Open runner-up), Emma Raducanu (British tennis star), Pedri (Barcelona and Spain footballer), Yulimar Rojas (Venezuelan athlete) and Ariarne Titmus (Australian swimmer). The winners will be revealed in April following a vote by the Laureus World Sports Academy, made up of 71 sporting greats.

 

2. Telugu short film ‘Street Student’ wins NHRC’s Short Film Award Competition: A Telugu short film ‘Street Student’ by Akula Sandeep depicting the story of a street urchin with a strong message on right to education has bagged the first prize in a competition organised by the National Human Rights Commission (NHRC). ‘Street Student’ by Akula Sandeep has been selected for the first prize worth Rs 2 lakh in the seventh Short Film Award Competition. It is in Telugu with subtitles in English. The film shows the story of a street urchin to send across a strong message on right to education and how society needs to support it.

The second prize worth Rs 1.5 lakh goes to, ‘Karfew’ by Romi Meitei. The film, through the story of a child in Manipur, pitches in hope for a better world, wherein people’s right to life, liberty, dignity and equality can be protected against odds including stereotyped fear psychosis. It is in the Meiteilon language with subtitles in English.