Daily GK Update- 22nd Mar, 2022

 

NATIONAL UPDATES:

 

1. Power Minister RK Singh inaugurates India’s first Virtual Smart Grid Knowledge Centre in Manesar: The Union Minister for Power, Shri Raj Kumar Singh virtually launched the first of its kind Virtual Smart Grid Knowledge Center (Virtual SGKC) and Innovation Park, as part of Azadi ka Amrit Mahotsav Programme. The Virtual SGKC will give a digital footprint of the physical setup of SGKC, established by POWERGRID in 2018 at its centre in Manesar, Haryana. Virtual SGKC is housed within the POWERGRID centre in Manesar and the solutions which are physically present at SGKC premises will also be hosted on this platform. The Virtual SGKC is conceptualized and developed by POWERGRID with support from Ministry of Power and technical supoort from USAID. The new initiative will prove to be one of the leading Centers of Excellence globally to foster innovation, entrepreneurship and research in smart grid technologies.

 

2. Madras’ IIT and RBI Innovation Hub make ties with Boost fintech startups: IIT Madras Incubation Cell (IITMIC) and RBI Innovation Hub (RBIH), a wholly-owned subsidiary of the Reserve Bank of India, inked a Memorandum of Understanding (MoU) to collaborate in establishing the ecosystem needed to support and expand fintech businesses in India. The two organisations will collaborate to give early-stage entrepreneurs with unique and disruptive ideas with incubation support and speed their scale-up journey. RBIH will consider select startups incubated at IITM Incubation Cell for co-incubation from time to time, and they will receive strategic and operational guidance, as well as training and mentoring sessions from RBIH leadership and domain experts, market access, and connections to a larger ecosystem of startups, vendors, investors, and other resources.

 

3. For drone-based mineral exploration NMDC Sign MoU with IIT Kharagpur: The country’s largest iron ore producer, NMDC Ltd, has signed a memorandum of understanding (MoU) for drone-based mineral research with IIT Kharagpur. The National Mining and Development Corporation (NMDC)is increasingly dependent on technical innovation and the digitisation of its exploration and mining database. The government has taken the first step in regulating and monitoring drone usage and operations in India, which are now employed in agriculture, urban planning, forestry, mining, disaster management, surveillance, and transportation, among other industries. Key Points:

a)      NMDC and IIT Kharagpur will collaborate to create spectrum products, methodologies, and algorithms for drone (UAV) mining exploration.

b)      The collaboration will also lead to the development of software spectral tools for mineral excavation and mining technology capacity-building programmes.

c)       Drone-based Geophysical Surveys and Hyperspectral Studies for Mineral Exploration would be conducted by NMDC for the first time in India.

d)      NMDC is exploring for various minerals in Madhya Pradesh as well as diamonds in the Beloda-Belmundi block in Chhattisgarh. It is also the first CPSE in the central Indian diamond province to use space geophysics, as well as the first to use online monitoring of data exploration on the BHUVAN platform.

 

4. Defence Minister Rajnath Singh inaugurates FCS Integration complex in Bengaluru, constructed by DRDO using in-house hybrid technology, in record 45 days: Raksha Mantri Shri Rajnath Singh inaugurated a seven-storeyed Flight Control System (FCS) Integration facility in Bengaluru, Karnataka. The facility is housed at Aeronautical Development Establishment (ADE), a laboratory of Defence Research and Development Organisation (DRDO). FCS facility is a state-of-the-art complex constructed by DRDO in record 45 days, using in-house hybrid technology. This hybrid technology has been developed by DRDO with support of Larsen & Toubro (L&T).  The FCS facility will support Research & Development (R&D) activities for developing Avionics for Fighter Aircraft and FCS for Advanced Medium Combat Aircraft.

 

5. DCI and Cochin Shipyard joins hand to build country’s first indigenous dredger: The Dredging Corporation of India (DCI) and Cochin Shipyard Limited (CSL) have inked an agreement to build the first indigenous dredger of the country. The project is estimated to be completed within 34 months, at a cost of around Rs 920 crore. The technical know-how, basic designs, dredging system components of the Project shall be provided by Holland-based Royal IHC, the market leader for designing, building and servicing high added-value dredging vessels and dredging equipment.

 

6. A book titled “More than Just Surgery: Life Lessons Beyond the OT” by Dr Tehemton Erach Udwadia: Padma Awardee Dr Tehemton Erach Udwadia has authored a new book titled “More than Just Surgery: Life Lessons Beyond the OT”, a personal account of people, incidents, mentors, failures, and absurdities against the backdrop of surgery. The book maps the journey of Dr Tehemton Erach Udwadia from his student years through residency, research, surgical practice and surgical teaching as a means of sharing the lessons he learned.

 

INTERNATIONAL UPDATES:

 

1. Hurun Global Rich List 2022: Elon Musk Tops: paceX and Tesla founder Elon Musk has bagged the top position on the 2022 M3M Hurun Global Rich List, with a total net worth of $205 billion. The 2022 M3M Hurun Global Rich List is published by research and luxury publishing group Hurun India in association with realty firm M3M.

Other persons in the list:

a)      Amazon.com Inc executive chairman Jeff Bezos ranked second with $188 billion in net worth.

b)      With a net worth of $153 billion, Bernard Arnault, the chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury-goods company, ranked third.

c)       From India, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani was the only Indian to feature in the top 10 list of  2022 Hurun Global Rich List’ to emerge as India’s as well as Asia’s richest man. Ambani occupied the ninth rank globally with a net worth of $103 billion.

A key finding of 2022 M3M Hurun Global Rich List

a)      Overall 3,381 billionaires from 2,557 companies and 69 countries were ranked in 2022 M3M Hurun Global Rich List.

b)      215 billionaires were from India, which included 58 new additions.

c)       India emerged as the third-largest billionaire producing nation in the world.

Top 10 Billionaires:

Rank	Name	Company	Wealth Value
1	Elon Musk	Tesla	USD 205 bn
2	Jeff Bezos	Amazon	USD 188 bn
3	Bernard Arnault	LVMH Moët Hennessy Louis Vuitton	USD 153 bn
4	Bill Gates	Microsoft	USD 124 bn
5	Warren Buffett	Berkshire Hathaway	USD 119 bn
6	Sergey Brin	Alphabet	USD 116 bn
6	Larry Page	Alphabet	USD 116 bn
8	Steve Ballmer	Microsoft	USD 107 bn
9	Mukesh Ambani	Reliance Industries Limited	USD 103 bn
10	Bertrand Puech & Family	Hermes	USD 102 bn

 

2. International Day of Forests: 21st March: The International Day of Forests (also known as World Forestry Day) is celebrated every year on March 21. The theme for International Day of Forests 2022 is “Forests and sustainable production and consumption”. The day aims to celebrate and raise awareness of the importance of all types of forests, and trees outside forests, for the benefit of current and future generations as well as to increase the public awareness among communities about the values, significance and contributions of the forests to balance the life cycle on the earth.

 

3. World Puppetry Day: 21st March: The World Puppetry Day is observed every year on March 21, to promote the puppet arts. The first celebration was held in 2003. The idea of World Puppetry Day was proposed the Iranian puppet theater artist Javad Zolfaghari in 2000 at the XVIII Congress of the Union Internationale de la Marionnette, (UNIMA) in Magdeburg. Two years later in June 2002, the date of the celebration was identified by UNIMA.

 

4. World Water Day: 22nd March: World Water Day is celebrated globally on 22nd March every year. The day aims to highlight the importance of freshwater. It is used to advocate for the sustainable management of freshwater resources. This 2022, the focus is groundwater, an invisible resource with an impact visible everywhere. The World Water Day theme 2022 is “Groundwater, Making the Invisible Visible”. Groundwater is a crucial resource that provides almost half of all drinkable water across the world.

World Water Day History: The idea for this international day goes back to 1992, the year in which the United Nations Conference on Environment and Development in Rio de Janeiro took place. That same year, the United Nations General Assembly adopted a resolution by which 22 March of each year was declared World Day for Water, to be observed starting in 1993.

 

OTHER UPDATES:

 

SPORTS

 

1. F1 Bahrain Grand Prix 2022 won by Ferrari’s Charles Leclerc: Charles Leclerc (Ferrari- Monaco) has won the Formula One Bahrain Grand Prix 2022 at the Bahrain International Circuit, a motor racing circuit in the west of Bahrain. Carlos Sainz Jr. (Ferrari – Spain) came second while Lewis Hamilton (Mercedes-Great Britain) came third. This was the first Formula One race of 2022.

 

2. Pankaj Advani Won Asian Billiards title for 8th time: Indian cueist Pankaj Advani has defeated Dhruv Sitwala to win his eighth title at the 19th Asian 100 UP Billiards Championship 2022. It was held in Doha, Qatar. Overall this is Advani’s 24th international title and 8th Asian crown. Earlier, Advani had held off the stiff challenge of Pauk Sa of Myanmar to secure a spot in the final. He managed a 5-4 win after his opponent fought back strongly to level the match at four frames each.

 

BANKING AND FINANCE

 

1. RBI issues Regulatory Framework for Microfinance Loans: The Reserve Bank of India has released the framework for Microfinance Loans. A microfinance loan is defined as a collateral-free loan given to a household having an annual household income up to Rs. 3,00,000. RBI has removed the cap on the number of NBFC-MFIs who can provide loans to microfinance borrowers. Instead, it has focused on borrowers’ repayment capacity and accordingly capped the fixed obligation to income ratio (FOIR) at 50 per cent. The minimum requirement of microfinance loans for NBFC-MFIs has been revised to 75 per cent of the total assets. The maximum limit on microfinance loans for NBFCs other than NBFC-MFIs has been revised to 25 per cent of the total assets.

 

2. RBI Innovation Hub partners with IIT Madras to boost fintech startups: RBI Innovation Hub (RBIH) and IIT Madras Incubation Cell (IITMIC) have signed an MoU to work together in developing the ecosystem necessary to support and scale fintech startups in India. RBIH is a wholly-owned subsidiary of Reserve Bank of India. Rajesh Bansal is the CEO of RBI Innovation Hub (RBIH). Select startups incubated at IITM Incubation Cell will be considered from time to time by RBIH for co-incubation and thereby receive strategic and operational guidance, training and mentoring sessions by RBIH leadership.

 

BUSINESS AND ECONOMY

 

1. Deloitte’s Global Powers of Retailing 2022: Reliance Retail ranked 56th: According to the global consulting firm Deloitte’s report titled “Global Powers of Retailing 2022: Resilience Despite Challenges”, The Indian brand, Reliance Retail, ranked 56th on the Top 250 list based on the retail revenue growth for FY2020. Walmart Inc., an American multinational retail corporation, tops the list, followed by Amazon, Inc., Costco Wholesale Corporation, Schwarz Group, and The Home Depot, Inc.

Asia Pacific: China’s JD.com, Inc tops the list of companies from APAC, ranking 9th amongst the list with total revenue of around USD 94.4 billion. Japan leads the APAC region with 29 companies on the list followed by China/Hong Kong SAR (14), South Korea (5) and Australia (4).

Fastest 50 retailers (FY2015-2020): The top 5 fastest-growing retailers in FY2019 were Coupang of South Kore a(1st), Reliance Retail Limited of India (2nd), Wayfair Inc of United States (3rd), Mobile World Investment Corporation of Vietnam (4th) and A101 Yeni Mağazacılık A.S from Turkey (5th).

 

2. BPCL becomes the first to offer digital payment to non-internet users: Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and Fortune Global 500 company, has teamed up with UltraCash Technologies Pvt. Ltd. to provide BharatGas customers with a voice-based digital payment option for booking LPG cylinders. Customers who do not have access to a smartphone or the internet can use this feature to book cylinders and pay via the ‘UPI 123PAY’ system. Customers can call the common number 080 4516 3554 from a non-internet phone to reserve a BharatGas cylinder for themselves or for friends in simple steps and in a secure manner thanks to the collaboration with Ultra Cash.

Key Points:

a)      Around 4 crore BharatGas customers in rural India will benefit from the implementation of this option.

b)      After the RBI Governor announced the launch of UPI 123PAY last week, BPCL is the first company in India to offer their service to consumers. UltraCash is a mobile payment app created by UltraCash Technologies Pvt Ltd and approved by India’s National Payment Corporation (NPCI).

c)       More than 13,000 BharatGas customers transacted for more than Rs. One Crore in the month leading up to the launch, implying that Rs. 100 Crore in transactions could be expected in the next twelve months.

Daily GK Update- 21st Mar, 2022

 

NATIONAL UPDATES:

 

1. Karnataka govt developed Dishaank app to ensure easy access to land records: The Survey Settlement and Land Records (SSLR) unit of Karnataka’s revenue department is ensuring easy availability of original land records through an app called Dishaank. The Dishaank app is developed under the Geographical Information System (GIS) program of the Karnataka State Remote Sensing Applications Center (KSRSAC). The KSRSAC provides satellite data to agencies such as the SSLR unit for innovative use. Dishaank leverages Karnataka’s decision to digitize land records under the Bhoomi project.

Advantages of Dishnaak app: Citizens can easily avail themselves of the information about the land as recorded in the Bhoomi database. This will help in reducing land disputes and will bring transparency in the maintenance of land records. However, according to the Karnataka government, the Dishaank app’s purpose is only to provide clarity on the original status of land and the app should not be used for legal purposes in any land-related disputes.

About Bhoomi Project: Bhoomi is a project to digitize Karnataka’s land records. The project is jointly funded by the Government of India and the Government of Karnataka. The project was developed and implemented by National Informatics Centre (NIC).

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

 

2. Net-Zero Carbon Emissions by 2050: Mumbai became first South Asian City to set target: Mumbai, Maharashtra announced its detailed framework to ‘zero out carbon emissions by 2050’ and became the first city in South Asia to set such a target. Mumbai’s target is 20 years ahead of India’s target to reach net zero emissions by 2070. Targets also include a 30% reduction in greenhouse gas (GHG) emissions by 2030 and 44% reduction by 2040.

Mumbai set several short-term goals for decarbonisation measures such as electrifying public transport, it plans to adopt 2,100 electric buses by 2023 at a cost of 130 billion rupees (USD $1.7 billion). Brihanmumbai Municipal Corporation (BMC) has devised the Mumbai Climate Action Plan (MCAP) as a part of its commitment towards building a climate-resilient city.

 

3. 36th edition of the International Geological Congress to be held in New Delhi: On a virtual platform, the 36th International Geological Congress (IGC) will be placed here on March 20-22, 2022, with the topic Geosciences: The Basic Science for a Sustainable Future. The 36th International Geophysical Congress is a collaboration between the Ministries of Mines and Earth Sciences, the Indian National Science Academy, and the Science Academies of Bangladesh, Nepal, and Sri Lanka. Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi and Minister of State Science & Technology; Minister of State Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space Dr Jitendra Singh are expected to inaugurate the Congress.

Key Points:

a)      The event would provide a one-of-a-kind forum for Geoscience knowledge and experience sharing, as well as professional networking.

b)      It would provide firsthand knowledge of cutting-edge mining, mineral exploration, and water, mineral resource, and environmental management technologies. It would also help boost academic output and provide chances for capacity building across geoscientific disciplines.

c)       India, along with its regional allies, submitted a candidacy to host the 36th International Geological Congress in India in 2020 at the 34th International Geological Congress in Brisbane in 2012. The bid was won by India.

d)      On the occasion of the 36th IGC, three commemorative Postage Stamps will be issued, as well as a First Day Cover. India held the 22nd session of the IGC, which was the first IGC on Asian land, 58 years ago.

 

4. 35th Surajkund International Crafts Mela begins in Haryana: The Governor of Haryana, Bandaru Dattatraya and Chief Minister of Haryana, Manohar Lal Khattar formally inaugurated the 35th edition of the world-famous Surajkund International Crafts Mela at Surajkund in Faridabad district of Haryana.  The event is organized jointly by the Surajkund Mela Authority & Haryana Tourism in collaboration with Union Ministries of Tourism, Textiles, Culture and External Affairs. In 2022, the ‘Theme State’ in Jammu & Kashmir and Uzbekistan is the partner nation.

The Mela is open from March 19 to April 04, 2022. It provides an opportunity for artisans from all over India to showcase their talent and the richness and diversity of the handicrafts, handlooms, and cultural heritage of India. The Fair was first organized in 1987. Due to the Covid 19 pandemic, the event could not be organised in the year 2021.

Note: Haryana Governor: Bandaru Dattatreya; Haryana Capital: Chandigarh; Haryana Chief Minister: Manohar Lal Khattar.

 

INTERNATIONAL UPDATES:

 

1. Bangladesh top in South Asia in terms of women on board of listed companies: Bangladesh tops the list in South Asia in terms of women on board of listed companies, says a study conducted by International Finance Corporation (IFC) and Dhaka Stock Exchange (DSE). According to the latest figures, there was an increase in the percentage of women who are independent directors on listed companies from five per cent in 2020 to six per cent, despite the impact of COVID-19, which has disproportionately affected women, said a press release issued by the IFC.

The findings were revealed at an event marking International Women’s Day. The IFC, DSE, UN Women, and United Nations Global Compact organised the programme. The IFC has partnered with the DSE, UN Women, and United Nations Global Compact for the seventh consecutive year to “Ring the Bell for Gender Equality”.

Note: Bangladesh Capital: Dhaka; Bangladesh President: Abdul Hamid; Bangladesh Currency: Bangladeshi taka; Bangladesh Prime minister: Sheikh Hasina.

 

2. UN French Language Day: 20th March: The UN French Language Day is observed annually on 20 March. The day was established by UN’s Department of Public Information in 2010. It is one of the six official languages used throughout the Organization, and aims to celebrate multilingualism and cultural diversity as well as promote equal use of all. March 20 was chosen as the date for the French language since it coincides with the 40th anniversary of the International Organization of La Francophonie, which represents countries and regions where French is a customary language.

 

3. World Day of Theatre for Children and Young People: 20th March: The World Day of Theatre for Children and Young People is celebrated all over the world on March 20. The day is celebrated every year since 2001 by the international community of theatre practitioners to attract the attention of a wider public to the art of theatre for children and young people. The event is basically organised by the ASSITEJ International, an international alliance of professionals involved in theatre for children and young people.

 

4. World Frog Day: 20th March: The World Frog Day is observed annually on March 20. The purpose of the day is to raise awareness about the tailless amphibian frogs: found on land and water both. The day was created in 2009 with the intention to save many different species of frogs from going extinct.

 

5. World Poetry Day: 21st March: On 21st March, World Poetry Day is celebrated every year to recognise the unique ability of poetry to capture the creative spirit of the human mind. World Poetry Day celebrates one of humanity’s most treasured forms of cultural and linguistic expression and identity.

History: The United Nations Educational, Scientific, and Cultural Organization (UNESCO) adopted this day during UNESCO’s 30th session in Paris in 1999 with the aim of supporting linguistic diversity through poetic expression and increasing the opportunity for endangered languages to be heard. Some countries also celebrate World Poetry Day on October 15 to mark the birthday of Virgil, a Roman poet who is famous for his epic Aeneid.

Note: World Poetry Day Headquarters: Paris, France; World Poetry Day Director-General: Audrey Azoulay; World Poetry Day Founded: 16 November 1945, London, United Kingdom.

 

6. World Down Syndrome Day: 21st March: World Down Syndrome Day (WDSD) is observed every year on 21 March. It is a global campaign that is observed annually to spread awareness about Down syndrome. The Day is commemorated as a global initiative to increase awareness about hereditary disorders. The theme of World Down Syndrome Day this year is “Inclusion Means”.

History: The first World Down Syndrome Day was observed in 2006. Then the Brazilian Federation of Associations of Down Syndrome worked with Down Syndrome International and its members to launch an extensive campaign to generate international support. In November 2011, the General Assembly adopted a resolution by consensus to celebrate World Down Syndrome Day every year. The next month it declared March 21 as World Down Syndrome Day.

 

7. International Day for the Elimination of Racial Discrimination: 21st March: International Day for the Elimination of Racial Discrimination is observed annually on 21 March to remind people about the negative consequences of racial discrimination. The 2022 edition of the International Day focuses on the theme “VOICES FOR ACTION AGAINST RACISM”.

History of the day: The International Day for the Elimination of Racial Discrimination is observed annually on the day the police in Sharpeville, South Africa, opened fire and killed 69 people at a peaceful demonstration against apartheid “pass laws” in 1960. In 1979, the General Assembly adopted a programme of activities to be undertaken during the second half of the Decade for Action to Combat Racism and Racial Discrimination. On that occasion, the General Assembly decided that a week of solidarity with the peoples struggling against racism and racial discrimination, beginning on 21 March, would be organized annually in all States.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. SBI to set up Innovation, Incubation, and Acceleration Centre at Hyderabad: The State Bank of India (SBI) will set up an Innovation, Incubation, and Acceleration Centre (IIAC) at Hyderabad, Telangana which will be operational in six to nine months of on-boarding a consultant. This Centre will be the bank’s in-house capability to enhance its current performance and drive higher top-line growth through innovation. It will help the bank to develop a set of technologies, knowledge, and skills for the introduction of new products and services. It will act as a central body to govern and drive fin-tech partnerships and implement change across the bank.

Note: State Bank of India Founded: 1 July 1955; State Bank of India Headquarters: Mumbai; State Bank of India Chairman: Dinesh Kumar Khara.

 

2. Mahila Money, Visa, and Transcorp launched Prepaid Card for Women Entrepreneurs: The digital payments network Mahila Money, Visa, and Transcorp Prepaid Payment Instruments (PPI) have launched Mahila Money Prepaid Card to help women entrepreneurs easily collect payments, loans and get incentives for transactions. The prepaid card has been designed keeping in mind the needs of digital entrepreneurs, small business owners and women.

The card is for community members who want the convenience of a bank account with added flexibility, safety and convenience. This collaboration will pave the way to economic freedom and financial inclusion for millions of women entrepreneurs.

Salient features and benefits of the Mahila Money Prepaid Card:

a)      The card makes it easy for women entrepreneurs to collect payments digitally for their businesses and helps boost their working capital, as loans can be transferred directly into the card.

b)      Users are offered incentives, rewards, and cashback from the Mahila Money ecosystem of partners.

c)       The card is useful for women who may not operate their bank accounts actively but want to transact digitally for their businesses and expenses.

Note: Transcorp International Ltd Established: 1994; Transcorp International Ltd Headquarters: New Delhi, Delhi; Transcorp International Ltd Managing Director: Gopal Sharma.

 

BUSINESS AND ECONOMY

 

1. Moody’s lowers India’s GDP forecast for CY22 to 9.1%: Rating agency Moody’s has revised downwards the economic growth forecast of India by 40 basis points to 9.1 per cent in the Calendar Year 2022 (CY2022), due to adverse effects of the Russia-Ukraine conflict on the global economy. Earlier in February 2022, Moody’s estimated India’s GDP in CY2022 to 9.5 percent. Moody’s has projected India’s GDP growth forecast for the Calendar Year (CY) 2023 at 5.4 percent.

Moody’s, in a statement, said India is particularly vulnerable to high oil prices given that it is a large importer of crude oil. Because the country is a surplus producer of grain, agricultural exports will benefit in the short term from high prevailing prices.

 

2. Prashant Jhaveri joining “Flipkart Health+ as CEO: Flipkart Health+ announced the appointment of Prashant Jhaveri as its new CEO. He will be in charge of Flipkart’s entry into India’s fast-growing healthcare sector. Jhaveri was the CEO of Apollo Health and Lifestyle Limited and MediBuddy before joining Flipkart Health+. Earlier in his career, he worked with Medi Assist Group as the chief business officer.

In November 2021, Flipkart Health+ was created to create an end-to-end digital healthcare platform to address the concerns of inexpensive and high-quality healthcare.

 

OBITUARIES

 

1. American Astrophysicist Eugene Parker passes away: American Astrophysicist Eugene Newman Parker, who contributed to solar physics, has passed away at the age of 94. Eugene Parker witnessed the launch of National Aeronautics and Space Administration (NASA)’s Parker Solar Probe in 2018, the first NASA mission named after a living person, and became the first person to witness the launch of a spacecraft named after them.

Parker is a visionary in the field of heliophysics, which focuses on the study of the sun and other stars & he is well known for his theory on the existence of solar wind, a supersonic flow of particles of the sun’s surface. He virtually created the field of heliophysics in the 1950s.

 

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Daily GK Update- 20th Mar, 2022

 

NATIONAL UPDATES:

 

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

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

 

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

 

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

About ‘Digital Water Data Bank’:

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

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

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

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

 

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

Key points:

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

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

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

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

 

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

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

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

 

INTERNATIONAL UPDATES:

 

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

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

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

 

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

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

 

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

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

 

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

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

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

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

Key Points:

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

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

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

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

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

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

 

BUSINESS AND ECONOMY

 

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

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

 

AWARDS AND HONOURS

 

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

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

 

DEFENCE

 

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

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

 

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

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

Daily GK Update- 19th Mar, 2022

 

NATIONAL UPDATES:

 

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

About the ARTPARK:

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

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

 

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

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

 

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

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

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

 

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

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

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

 

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

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

 

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

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

 

INTERNATIONAL UPDATES:

 

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

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

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

 

OTHER UPDATES:

 

SPORTS

 

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

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

 

BUSINESS AND ECONOMY

 

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

Key Points:

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

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

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

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

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

 

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

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

 

AWARDS AND HONOURS

 

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

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

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

 

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

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

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