Daily GK Update- 1st April, 2022

 

NATIONAL UPDATES:

 

1. Cabinet approved $808 million programme to improve and accelerate the performance of MSME: The government authorised a World Bank-backed programme costing USD808 million on Wednesday to aid and improve the functioning of the country’s Micro, Small and Medium Enterprises (MSMEs).

Key Points:

a)      The government said in an official statement that it would support various COVID-19 pandemic-related resilience and recovery interventions of the enterprises and that it would begin in financing at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, which envisions a programme called ‘Raising and Accelerating MSME Performance’ (RAMP) and is supported by a World Bank-assisted central sector scheme, the government said.

b)      The loan from the World Bank’s International Bank for Reconstruction and Development will be for USD500 million, with the remaining $308 million coming from the Centre, according to the statement.

c)       The loan from the World Bank’s International Bank for Reconstruction and Development will be for 18.5 years, with a 5.5-year grace period.

d)      In addition, the RAMP initiative will work to increase state implementation capability and MSME coverage. It will address the MSME sector’s generic and COVID-related challenges by enhancing the impact of existing MSME schemes, particularly on the competitiveness front.

 

Assam and Meghalaya have signed an agreement to resolve a border issue in six disputed districts: Assam and Meghalaya agreed to resolve their five-decade-long border dispute in six of the 12 contested places that have frequently sparked tensions between the two states, with Union Home Minister Amit Shah hailing the decision as a “historic day for the Northeast.” Chief Ministers of Assam and Meghalaya, Himanta Biswa Sarma and Conrad Sangma, respectively, inked the agreement in the presence of Shah.

Key Points:              

a)      The agreement will end the long-running disagreement in six of the 12 points along the 884.9-kilometer boundary between the two States.

b)      According to the home minister, the signing of the agreement has settled 70% of the border issue between the two countries, and he hopes to find a solution for the remaining six places shortly.

c)       Manipur, Mizoram, Tripura, Meghalaya, Arunachal Pradesh, Nagaland, and West Bengal share a 2743-kilometer border with Assam. Nagaland, Mizoram, Meghalaya, and Arunachal Pradesh all have border conflicts with it.

d)      There are 36 communities in the six locations, totaling 36.79 square kilometres, for which an agreement has been reached.

e)      In August of last year, the two states appointed three committees each to investigate the thorny boundary issue. The panels were formed after two rounds of talks between Sarma and Sangma, during which the two neighbours agreed to settle the matter in stages.

f)        According to the committees’ combined final set of recommendations, Assam will obtain complete control of 18.51 sq km of the 36.79 sq km disputed area taken up for settlement in the first phase, while Meghalaya will have full control of 18.28 sq km.

 

3. Museum of all former Prime Ministers of India inaugurates soon: A museum of all former Prime Ministers, Pradhan Mantri Sangrahalaya (the Museum of Prime Ministers), has been built at Teen Murti Estate, in Delhi. The Rs. 270 crore project will be inaugurated on April 14, 2022, at the Teen Murti Bhavan complex which was the residence of ex-PM Jawaharlal Nehru.

About the Museum: The Museum will showcase the life, times and contribution of all 14 Prime Ministers of India so far, except for the collections and works on Jawaharlal Nehru, who has a separate Nehru Memorial Museum, which was also his residence. The PMs Museum project was approved in 2018, and the deadline for its completion was October 2020 but faced delays due to pandemic-related lockdowns, as well as civil works and content-curation issues.

 

4. WB Governor unveiled PARAM Shakti, a petascale supercomputer at IIT Kharagpur: The National Supercomputing Mission (NSM), a collaborative project of the Ministry of Electronics and Information Technology (MeitY) and the Department of Science and Technology, has dedicated PARAM Shakti, a Petascale Supercomputer, to the country at IIT Kharagpur (DST). Shri Jagdeep Dhankhar, Honourable Governor of West Bengal, inaugurated the supercomputer on March 27, 2022. The PARAM Shakti supercomputing facility is advancing research and development efforts in diverse disciplines of computational and data sciences.

In March 2019, IIT Kharagpur and the Centre for Development in Advanced Computing (CDAC) signed a Memorandum of Understanding (MoU) to develop this state-of-the-art Supercomputing Facility with 17680 CPU cores and 44 GPUs. This facility was the first to use an RDHX-based efficient cooling system to achieve great power efficiency. Both IIT Kharagpur and CDAC have thoroughly tested this system for commercial, open-source, and in-house software in a variety of applications.

 

INTERNATIONAL UPDATES:

 

1. Prime Minister Narendra Modi virtually attends 5th BIMSTEC Summit: Prime Minister Narendra Modi has participated in the 5th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit through virtual mode. The Summit was hosted by the Government of Sri Lanka, which was the chair nation of BIMSTEC. At the conclusion of the Summit, Thailand took over as chair nation of BIMSTEC. The year 2022 marks the 25th year of the establishment of BIMSTEC. The theme of the Summit was “Towards a Resilient Region, Prosperous Economies, Healthy People”.

Key points of the Summit:

a)      During the Summit, leaders witnessed the signing of three BIMSTEC agreements

1.      BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters

2.      BIMSTEC Memorandum of Understanding on Mutual Cooperation in the field of Diplomatic Training

3.      Memorandum of Association on Establishment of BIMSTEC Technology Transfer Facility

b)      Adoption and signing of the BIMSTEC Charter, which would lead to putting in place s set of rules, a framework and long-term goals. This will help to streamline the operations of BIMSTEC and allow the organisation to enhance its potential.

c)       Adoption of the ‘Master Plan for Transport Connectivity’ which lays out a guidance framework for connectivity-related activities in the region in the future.

d)      Prime Minister of India, Narendra Modi announced that India will provide USD 1 million to the BIMSTEC secretariat to increase its operational budget.

About the BIMSTEC: BIMSTEC is an international organisation of seven South Asian and Southeast Asian nations. These are Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. The Leadership is rotated in alphabetical order of country names. The permanent secretariat of BIMSTEC is in Dhaka, Bangladesh.

 

OTHER UPDATES:

 

SPORTS

 

1. Himanta Biswa Sarma re-elected as President of Badminton Association of India: The incumbent president of the Badminton Association of India (BAI), Himanta Biswa Sarma has been re-elected unopposed for a second four years term, from 2022 to 2026. He was elected during the General Body Meeting of BAI in Guwahati on March 25, 2022. He is also the current Chief Minister of Assam. He was first elected as BAI chief in 2017. Apart from this, Sarma also serves as Vice President of Badminton Asia and a member of the Badminton World Federation Executive Council.

About the Badminton Association of India: Badminton Association of India is the governing body of badminton in India. BAI is an association registered under the Society’s act. It was formed in 1934 and has been holding national-level tournaments in India since 1936.

Note: Badminton Association of India Founded: 1934; Badminton Association of India Headquarters: New Delhi.

 

BANKING AND FINANCE

 

1. Banks reported fraud totaling Rs 34,000 crore, according to the Reserve Bank of India: According to Reserve Bank of India data, in the nine months ending December, 96 incidences of fraud were recorded by 27 scheduled commercial banks and financial institutions, totaling Rs 34,097 crore. Punjab National Bank had the greatest amount of frauds at Rs 4,820 crore, while Bank of India had the highest number of frauds at 13. This penalty was issued in accordance with RBI’s authority under section 47A (1) (c) of the Banking Regulation Act, 1949, as well as sections 46(4)(i) and 51(1).

Background:

a)      Minister of State for Finance Bhagwat Karad responded to a query in the Rajya Sabha during the budget session of parliament by giving bank-by-bank data of frauds totaling more than Rs 100 crore. Between April and December, scheduled commercial banks and select financial institutions reported these.

b)      The RBI’s master guidelines emphasise fraud prevention, early detection, rapid reporting, and prompt start of accountability processes in the case of fraud. In his response, the minister stated that, in addition to the master directives, a number of steps have been implemented to prevent fraudsters and defaulters. That includes:

c)       The Fugitive Economic Offenders Act of 2018 authorises the attachment of a fugitive economic offender’s property. Such possessions may be seized, and the perpetrator may be disentitled, making it impossible for them to defend any legal claim.

d)      Based on RBI directives and board-approved regulations, public sector banks can elect to publish images of willful defaulters.

e)      PSBs can acquire certified copies of the passports of the proprietors or directors, as well as other approved signatories, of enterprises that take out loans in excess of Rs 50 crore.

 

BUSINESS AND ECONOMY

 

1. ICRA cuts India’s GDP growth forecast in FY23 to 7.2%: Rating agency ICRA has lowered the growth forecast for India’s GDP in 2022-23 (FY23) to 7.2 per cent. Earlier this rate was 8 per cent. The ICRA Ltd. has projected the GDP growth forecast for 2021-22 (FY22) at 8.5%, lower than the official advance estimate from the National Statistical Office of 8.9%.

Citing elevated commodity prices and supply chain challenges arising from the Russia-Ukraine conflict, as well as higher prices of fuels and edible oils denting demand due to squeezed household incomes.

 

2. Max Life Insurance teamed with PhonePe to provide consumers with financial security: Max Life Insurance Co. Ltd has announced the debut of the Max Life Smart Secure Plus Plan via the PhonePe app, a non-linked non-participating individual pure risk premium life insurance plan aimed at digitally savvy customers.

Customers can choose a sum assured of up to ten crore rupees and have their policies renewed through the PhonePe app. Max Life will provide PhonePe users an inherent terminal sickness benefit and a particular exit option within the life insurance category. IRDAI has awarded PhonePe, a digital payments platform, a direct broking licence, allowing them to offer insurance through their app.

 

DEFENCE

 

1. IONS Maritime Exercise 2022 (IMEX-22) concludes in Arabian Sea: The first edition of the Indian Ocean Naval Symposium (IONS) Maritime Exercise 2022 (IMEX-22) was held from March 26 to 30, 2022, in Goa and in the Arabian Sea. The objective of the exercise was to enhance the interoperability of the navies of member nations in Humanitarian Assistance and Disaster Relief (HADR) operations. The exercise is seen as a significant stepping stone for regional navies to collaborate and respond collectively to natural disasters in the region and paves way for further strengthening regional cooperation.

About the exercise: The navies from 15 out of the 25 member nations of IONS, participated in the exercise. The Harbour Phase of IMEX – 22 was held at Marmugao port, Goa on March 26 and 27 while the Sea Phase took place in the Arabian Sea from March 28 to 30, 2022.

IONS: The Indian Ocean Naval Symposium (IONS) is a series of biennial meetings between the littoral states of the Indian Ocean region, to increase maritime security cooperation, discuss regional maritime issues, and promote friendly relationships among the member states. The forum was established in 2007.

 

OBITUARIES

 

1. Former CM of Sikkim B.B. Gurung Passes Away: The 3rd Chief Minister of Sikkim, Bhim Bahadur Gurung has passed away at his residence in Lumsui in Gangtok, Sikkim. B. Gurung served as a teacher and a staff reporter in a Calcutta (Kolkata)-based newspaper the Amrita Bazar Patrika and he also edited the first news-based Nepali Journal of Sikkim, called Kanchenjunga. Gurung started his political career with Sikkim Rajya Congress Party in 1947 and was later appointed as the General Secretary in 1958. He served as the 3rd CM of Sikkim from 11 May to 24 May 1984, the shortest term in the history of Sikkim. Between 2014 and 2015 he served as the political advisor to the CM of Sikkim.

 

2. Belgian Footballer Miguel Van Damme passes away: Veteran Belgian footballer, Miguel Van Damme has passed away aged 28 after a long battle with leukaemia. Van Damme was diagnosed with leukaemia in 2016 and was undergoing treatment for cancer for over five years. During his eight-year professional career, Van Damme played for Cercle Brugge and made 40 appearances for the team.

Daily GK Update- 31st Mar, 2022

 

NATIONAL UPDATES:

 

1. India and the WHO have agreed to establish a global traditional medicine centre in Jamnagar: The World Health Organization (WHO) and the Government of India signed a memorandum of understanding to create the Global Centre for Traditional Medicine in Gujarat. According to a WHO statement, the onsite opening of the new WHO global centre for traditional medicine in Jamnagar, Gujarat, India, will take place on April 21, 2022.

Key Points:

a)      In Jamnagar, Gujarat, India, a new WHO centre will be established. While Jamnagar will serve as the center’s hub, the new facility will engage and benefit people from all over the world.

b)      With a USD 250 million investment from the Indian government, this worldwide knowledge hub for traditional medicine intends to harness the potential of traditional medicine from around the world using modern science and technology to improve people’s and the planet’s health.

c)       According to the WHO declaration, “traditional medicine” includes ancient methods like acupuncture, ayurvedic medicine, and herbal mixes, as well as modern pharmaceuticals used to preserve health and prevent, diagnose, and cure physical and mental illness.

 

2. Piyush Goyal inaugurates Indian Jewellery Exposition Centre building in Dubai: The Union Minister of Commerce and Industry, Piyush Goyal has inaugurated the Indian Jewellery Exposition Centre (IJEX) building in Dubai, UAE, during his visit to Dubai to participate in the India Pavilion at Dubai Expo 2020. During the launch of IJEX, the minister called upon the export members of the Gem and Jewellery Export Promotion Council (GJEPC) to go for a USD 100 billion export target annually from the current USD 35 billion.

IJEX will be a one-stop destination for the world to source Indian jewellery in Dubai and the platform will enable GJEPC members to display goods and book orders throughout the year. From India, 15 states and nine central ministries are participating in Dubai Expo, which will end on March 31, 2022.

 

3. IFS officer Renu Singh appointed Forest Research Institute (FRI) director: Dr Renu Singh has been appointed by the Ministry of Environment, Forest and Climate Change (MoEF) as the next director of the Forest Research Institute (FRI) in Dehradun. She will be the institute’s second woman director. Singh joined as FRI director after AS Rawat, director-general, ICFRE, handed over his additional charge of director FRI to her.

 

4. NITI Aayog and FAO Launch Book Titled Indian Agriculture towards 2030: Union Minister of Agriculture and Farmers’ Welfare (MoA&FW), Narendra Singh Tomar has released a book titled “Indian Agriculture towards 2030: Pathways for Enhancing Farmers’ Income, Nutritional Security and Sustainable Food and Farm Systems”, at an event organized by NITI Aayog and the Food and Agriculture Organization (FAO) of the United Nations.

Indian Agriculture towards 2030 captures the outcomes of the deliberative process of national dialogue by NITI Aayog and the Ministries of Agriculture and Farmers’ Welfare; and Fisheries, Animal Husbandry and Dairying, and facilitated by FAO since 2019.

 

INTERNATIONAL UPDATES:

 

1. HURUN Global U40 Self-Made Billionaires 2022: India ranks 4th: Hurun Research Institute has released the Hurun Global Forty and Under Self-Made Billionaires 2022, which ranks the self-made billionaires in the world (in terms of US dollars) aged forty years and under. The Hurun Report 2022 lists 87 Self-Made Billionaires in the world aged 40 and under, which is up by 8 from last year.

Country-wise: The USA leads the list with 37 self-made billionaires. China is second with 25 billionaires, followed by the United Kingdom (8), India (6) and Sweden (3) respectively in the top five.

Individual: Meta CEO Mark Zuckerberg is the world’s richest self-made billionaire aged 40 and under with a total wealth of $76 billion. He is followed by ByteDance CEO Zhang Yiming, FTX CEO Sam Bankman-Fried, Airbnb CEO Brian Chesky, and Facebook co-founder Dustin Moskovitz, respectively.

Immigrant Billionaires: 20 of the Hurun Global U40 are born and brought up in countries different to where they live today. These immigrant billionaires chose the USA (8), UK (7) and UAE (2) to live in today, and came originally from Russia mostly, followed by China, India and Ireland.

 

2. International Transgender Day of Visibility: 31st March: The International Transgender Day of Visibility (TDOV) occurs annually on March 31 to raise awareness of discrimination faced by transgender people worldwide, while also celebrating their contributions to society.

History of the Day: The day was founded by US-based transgender activist Rachel Crandall of Michigan in 2009. As a reaction to the lack of LGBT recognition of transgender people, citing the frustration that the only well-known transgender-centred day was the Transgender Day of Remembrance which mourned the murders of transgender people but did not acknowledge and celebrate living members of the transgender community. The first International Transgender Day of Visibility was held on March 31, 2009.

 

3. World Backup Day: 31st March: World Backup Day is marked every year on March 31. The day reminds us to protect our precious digital documents as we’ve become more reliant on technology. It is a day for people to learn about the increasing role of data in our lives and the importance of regular backups. Originally, World Backup Day began as World Backup Month, by a hard drive company named Maxtor which was later acquired by Seagate Technology.

 

4. International Day of Drug Checking: 31st March: The International Day of Drug Checking takes place on March 31 every year since 2017 to ensure people are educated on drugs and aware of their effects. The day aims to promote harm reduction initiatives of drugs and reduce drug-related risks. Along with it, it also marks promoting harm reduction actions of drugs and reduces drug-related risks. Their goal on the 31st of March is to raise public awareness of the availability of drug checking services and companies from across the planet.

 

OTHER UPDATES:

 

SPORTS

 

1. Canada reaches Football World Cup for first time since 1986: Canada has qualified for the Qatar 2022 football World Cup for the first time in 36 years, after thoroughly beating Jamaica 4-0 in Toronto. The North American nation have booked their place at the finals for the first time since Mexico in 1986. Canada is top of the CONCACAF qualifying group and has now secured its place at a World Cup finals tournament for the first time since 1986. Canada becomes the 20th team to qualify for the 2022 FIFA World Cup which will feature 32 nations vying for the ultimate prize in Qatar from November 21 to December 18. The remaining 12 teams will be decided in the coming days before the draw on April 1 to determine the eight groups.

 

BANKING AND FINANCE

 

1. RBI unveiled framework for geo-tagging of payment system touch points: The Reserve Bank of India (RBI) has released the framework for geo-tagging of payment system touchpoints. The framework is part of the central bank’s focus for deepening digital payments and providing inclusive access to all citizens of the country. Geo-tagging of payment system touchpoints will enable proper monitoring of the availability of payment acceptance infrastructure like Points of Sale (PoS) terminals, Quick Response (QR) codes, etc.

About the Geo-tagging of Payment System: Geo-tagging of Payment System TouchPoints/ acceptance infrastructure under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007). This system will be deployed by banks / non-bank Payment System Operators (PSOs) to ensure proper monitoring of the availability of payment acceptance infrastructure. The framework was issued on the lines of the Monetary Policy Statement 2020-21of October 08, 2021.

There are broad categories of physical infrastructure for digital payment transactions carried out by customers using payment touch points. Firstly, banking infrastructure comprises bank branches, offices, extension counters, Automated Teller Machines (ATMs) / Cash Deposit Machines (CDMs), Cash Recycler Machines (CRMs), micro-ATMs used by Business Correspondents (BCs), etc. Secondly, payment acceptance infrastructure such as Points of Sale (PoS) terminals, Quick Response (QR) codes deployed by banks/non-bank Payment System Operators (PSOs), etc.

 

BUSINESS AND ECONOMY

 

1. PVR & INOX Leisure announced merger combined entity to be called PVR Inox Ltd: Multiplex companies INOX Leisure Ltd and PVR Ltd have announced the merger of their two companies. Inox will have a 16.66% stake in the new firm and PVR will have a 10.62% stake. After the formalities of the merger, the company will be known as PVR Inox Limited. Ajay Bijli will be Managing Director of PVR Inox Limited, Sanjeev Kumar will be executive director and Pavan Kumar Jain will be non-executive chairman of the consolidated board.

The merger is subject to approval by the Securities and Exchange Board of India (SEBI), stock exchanges, and other regulatory approvals as required. Merger to bring together two of India’s best cinema brands to deliver an unparalleled consumer experience with a network of 1,546 screens across 341 properties in 109 cities.

Note: PVR Cinemas Founded: June 1997; PVR Cinemas Headquarters: Gurugram; PVR Cinemas Founder & CEO: Ajay Bijli.

 

2. FedEx appoints Indian-born Raj Subramaniam as new CEO: The world’s largest express transportation company FedEx has announced that its new Chief Executive Officer will be Indian American Raj Subramaniam. He has more than 30 years of global experience across strategy and operations and has led the company through a period of tremendous growth.

The US multinational courier delivery giant was previously helmed by Frederick W Smith. Smith, chairman and CEO, will step down from this position on June 1. He will now be its executive chairman. In his new role, Smith said he looks forward to focusing on Board governance as well as issues of global importance, including sustainability, innovation, and public policy. Smith had founded FedEx in 1971.

 

AWARDS AND HONOURS

 

1. President Kovind Confers National Water Awards 2022: The President of India, Ram Nath Kovind has presented the 3rd National Water Awards in New Delhi. National Water Awards is given for exemplary work in the field of water resource management. The first National Water Award was launched in 2018, by the Jal Shakti Ministry. A total of 57 National Water Awards for 2022 have been conferred to states, organizations and others in 11 different categories.

 

Category	Zone	Awardees
Best State		1. Uttar Pradesh 2. Rajasthan 3. Tamil Nadu
Best District	North	Muzaffarnagar (Uttar Pradesh) and Shahid Bhagat Singh Nagar (Punjab);
	South	Thiruvananthapuram (Kerala) and Kadapa (Andhra Pradesh);
	East	East Champaran (Bihar) and Godda (Jharkhand)
	West	Indore (Madhya Pradesh) and Vadodara (Gujarat) and Banswara (Rajasthan)
	Northeast	Goalpara (Assam) and Siang (Arunachal Pradesh)
Best Village Panchayat	North	Dhaspad, Almora, Uttarakhand Jamola, Rajouri, J&K Balua, Varanasi, Uttar Pradesh
	South	Yelerampura Panchayat, Tumakuru District, Karnataka Vellaputhur Panchayat, Chengalpattu District, Tamil Nadu Elappully Grama Panchayat, Palakkad District, Kerala
	East	Telari Panchayat, Gaya District, Bihar Chhindiya Panchayat, Surajpur District, Chhattisgarh Guni Panchayat, Khunti District, Jharkhand
	West	Takhatgadh, Sabarkantha, Gujarat Kankapar, Kachchh, Gujarat Surdi, Solapur, Maharashtra
	North-East	Sialsir, Sirchip, Mizoram Aminda Simsanggre , West Garo Hills, Meghalaya Chambagre, West Garo Hills, Meghalaya
Best Urban Local Body		Vapi Urban Local Body, Gujarat Dapoli Nagar Panchayat, Maharashtra Madurai Municipal Corporation, Tamil Nadu
Best Media (Print & Electronic)		Agrowon, Sakal Media Pvt. Ltd. (Adinath Dattatray Chavan) Sandesh Daily Bhuj Edition
Best Institution/RWA/Religious organization for Campus usage		Mata Vaishno Devi Shrine Board, Jammu IIT Gandhinagar, Gujarat Indian Oil Corporation Limited Faridabad
Best Industry		Trident (Textile) Ltd., Punjab Steel Authority of India Ltd., New Delhi
Best NGO		Gramvikas Sanstha, Aurangabad Vivekananda Research and Training Institute, Bhavnagar

 

Daily GK Update- 30th Mar, 2022

 

NATIONAL UPDATES:

 

1. Pramod Sawant takes oath as Chief Minister of Goa for 2nd term: Pramod Sawant took oath as the Chief Minister of Goa on March 28, 2022, for the second straight five-year term. Sawant led the BJP in the recently concluded 2022 Goa Assembly elections and won 20 seats in the 40-member Goa Assembly. Mr Sawant was administered the oath by Governor PS Sreedharan Pillai at the Dr Syama Prasad Mookerjee stadium near Panaji. Mr Sawant is an Ayurveda Medical practitioner by profession. He was sworn in as Chief Minister in March 2019 after the death of the sitting chief minister Manohar Parrikar. Mr Sawant represents the Sanquelim constituency.

 

2. Yamunotsav held at ITO Yamuna Ghat, organised by NMCG: The National Mission for Clean Ganga (NMCG) conducted Yamunotsav at ASITA East River Front, ITO Bridge, as part of Azadi Ka Amrit Mahotsav celebrations, in collaboration with a number of NGOs, to celebrate the splendour of Yamuna with a “pledge to keep it clean.”

Key Points:

a)      While under the Namami Gange Program, the focus was on the main stem of the Ganga Basin, and the positive results are now showing, Shri Kumar said.

b)      The target now is to clean River Yamuna and ensure that three large STPs being constructed are completed by December 2022 with the support of stakeholders, preventing all the major drains and dirty water from falling into Yamuna.

c)       He went on to say that by next year, the Yamuna should be significantly cleaner for Delhi residents.

d)      The NMCG is investing roughly Rs. 2300 crore in the construction of sewerage infrastructure for the River Yamuna.

 

3. Shashi Sinha named as new Chairman of Broadcast Audience Research Council India: The board of Broadcast Audience Research Council (BARC) India has elected IPG Mediabrands India CEO Shashi Sinha as the new chairman. He will take over from Punit Goenka, who served as chairman of the TV viewership measurement agency for the last three years. Sinha, who also represents the Advertising Agencies Association of India as its board member, has played a key role in the formation of BARC.

Note: Broadcast Audience Research Council Founded: 2010; Broadcast Audience Research Council Headquarters: Mumbai; Broadcast Audience Research Council CEO: Nakul Chopra.

 

4. India’s Namit Malhotra on Oscars win for Dune: This year’s Oscars was named to Dune as the Timothee Chalamet and Zendaya starrer sci-fi thriller bagged six wins. Dune was nominated in 10 categories and it won in 6 of them. This win was a proud moment for India as Namit Malhotra, the CEO and Chairman of Double Negative (DNEG), the studio that did the VFX for the film, brought home this honour.

DNEG won the Academy Award for Best Visual Effects, beating Free Guy, Shang-Chi, Spider-Man: No Way Home and No Time to Die. Interestingly, this is DNEG’s seventh win at the Academy Awards, with the studio winning big for Inception (2011), Ex Machina (2016), First Man (2019), Tenet (2021), Interstellar (2015) and Blade Runner 2049 (2018).

Note: DNEG Headquarters: London, United Kingdom; DNEG Founded: 1998, London, United Kingdom.

 

5. A book titled ‘Spoorthi Pradatha Sri Somayya’ authored by K Syam Prasad: Vice President M Venkaiah Naidu, released a book titled ‘Spoorthi Pradatha Sri Somayya’ authored by Syam Prasad. The book is based on the life story of late Shri Somepalli Somaiah, a social worker from Andhra Pradesh. He inspired youth to dedicate their lives to social welfare.

Somepalli Somaiah was born in 1927 in the “Parlamili” village of Prakasham district. He dedicated his life to reform and the betterment of society for 50 years. He participated in the Satyagraha of 1948 and was against the ban on RSS (Rashtriya Seva Sangh) and was jailed for the same.

 

INTERNATIONAL UPDATES:

 

1. Maltese PM Robert Abela sworn in after landslide election win: The Prime Minister of Malta, Robert Abela has been sworn in for a second term after his ruling Labour Party won the 2022 general election in a landslide victory. He was administered the oath of office by President George Vella. Abela was first sworn in as prime minister in January 2020 after the former Labour Party leader and Prime Minister Joseph Muscat resigned.

It was the first electoral test for Abela, a 44-year-old lawyer since he took the helm of the tiny Mediterranean island nation in January 2020 following a Labour party vote. Labour secured a majority of almost 40,000 votes over its Nationalist Party rivals — a huge margin in the tiny EU state which has just 355,000 registered voters.

Note: Malta Capital: Valletta; Currency: Euro

 

2. Gilbert Houngbo named next Director-General of International Labour Organization: Gilbert Houngbo from Togo will be the next Director-General of the International Labour Organization (ILO). Houngbo was elected by the UN agency’s governing body, comprising representatives of governments, workers and employers during their meeting in Geneva. Houngbo, former Prime Minister of Togo, will be the 11th head of the agency and the first African to hold the post. His five-year term will begin on October 1, 2022. The current Director-General, Guy Ryder, from the United Kingdom, has held office since 2012.

Note: International Labour Organisation Founded: 1919; International Labour Organisation Headquarters: Geneva, Switzerland.

 

OTHER UPDATES:

 

SPORTS

 

1. The men’s and women’s team has won gold in the National Cross Country Championship: In Kohima, Darshan Singh of the Services and Varsha Devi of the Railways finally defended their men’s and women’s titles in the National Cross Country Championships by winning their 10 Km events on the picturesque but difficult course, which was made more difficult by 60 per cent humidity and wind gusts.

Key Points:

a)      After playing crucial roles in their respective teams’ successes, they were ecstatic to win the South Asian crowns at the second SAFF Cross Country Championships, which were held concurrently.

b)      They tasted international victory right away, despite missing out on the 2020 competition in Sri Lanka, which was first postponed and then relocated here.

c)       Darshan Singh was grouped at the front with his Services teammates Rajendra Nath, Deepak Singh Rawat, Dipak Suhaug, reigning champion Parasappa Madevappa Hajilol, and Railways Narendra Pratap Singh even before the runners had completed the first loop of 2 kilometres. He never lost his beat or his place.

 

BANKING AND FINANCE

 

1. Shaktikanta Das lays Foundation Stone of Learning and Development Centre of BRBNMPL in Mysuru: Governor of Reserve Bank of India (RBI), Shaktikanta Das has laid the foundation stone for the establishment of a Learning and Development Centre (LDC) of the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) in Mysuru, Karnataka. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is a wholly-owned subsidiary of RBI.

About the Learning and Development Centre: LDC is being established with active collaboration from Security Printing and Minting Corporation of India Limited (SPMCIL) and Bank Note Paper Mill India Private Limited (BNPMIPL). LDC will act as a forum for robust knowledge dissemination, thus ensuring that the best practices, experiences, and innovations are shared efficiently in a congenial environment to ensure uniformity in banknote production, quality and supply.

 

BUSINESS AND ECONOMY

 

1. Former SBI chairman Rajnish Kumar joins Dun & Bradstreet: The Former Chairman of the State Bank of India Rajnish Kumar has joined the International Strategic Advisory Board of data and analytics behemoth Dun & Bradstreet. Dun & Bradstreet has been a trusted brand in business decision-making data, analytics, and ratings for almost 180 years.

About Rajnish Kumar: In October 2020, Kumar stepped down as Chairman of SBI. He formerly worked for HSBC’s Asia division in Hong Kong as a non-executive director, as a senior adviser for Baring Private Equity Asia, and as a consultant for Kotak Investment Advisors. Rajnish Kumar serves on the boards of HSBC Asia Pacific, L&T Infotech, Hero MotoCorp, and BharatPe.

 

2. Ola to acquire neo bank Avail Finance: Ola, an Indian ride-hailing startup, has agreed to acquire neo-banking platform Avail Finance in order to expand its financial services offering.

The financial terms of the agreement were not disclosed by Ola, which owns a 9% share in Avail Finance. Ola intends to use Avail Finance’s product portfolio to enhance its lending operations and further its neo-banking expansion goals. The acquisition is a critical step in Ola’s bigger drive into the fintech market as it strives to develop a mobility-focused financial services business under Ola Financial. Ola Financial Services will expand its position in the credit underserved areas that include blue-collar employees, such as Ola’s driver-partner ecosystem, with this purchase.

 

3. Uday Kotak resigns as the Chairman of IL& FS: Uday Kotak has announced to step down as the Chairman of the board of the Infrastructure Leasing & Financial Services (IL&FS), after his term ends on April 2, 2022. CS Rajan, Managing Director, IL&FS has been appointed as Chairman and Managing Director for six months with effect from April 3 by the Ministry of Corporate Affairs.

Crisis-hit Infrastructure Leasing & Financial Services Ltd (IL&FS) has resolved nearly 55% of the group’s outstanding debt over the last three-and-a-half years, managing director C.S. Rajan said on Tuesday. Among others, the company sold its iconic headquarters at Bandra Kurla Complex for ₹1,080 crore to reduce debt.

 

AWARDS AND HONOURS

 

1. Actress Deepika Padukone named in inaugural TIME100 Impact Award: Bollywood actress Deepika Padukone has been named as one of the awardees of the TIME100 Impact Awards 2022. The actress has got featured on the inaugural TIME100 Impact Awards list for her work in mental health struggles and raising awareness, through her LiveLoveLaugh Foundation. The award recognizes global leaders who have gone above and beyond to move their industries and the world forward. Apart from Deepika, six other global leaders have also been honoured with the award. The awards were presented at the Museum of the Future in Dubai.

 

DEFENCE

 

1. DRDO successfully test-fire Indian Army “MRSAM” Missile: The Defence Research and Development Organisation (DRDO) has conducted two successful flight tests of the Indian Army version of Medium Range Surface to Air Missile (MRSAM) against high-speed aerial targets at Integrated Test Range, Chandipur off the coast of Odisha. The first test launch was to intercept a medium-altitude long-range target and the second launch was for a low altitude short-range target. The Indian Army version of MRSAM is a Surface-to-Air Missile. It has been developed jointly by DRDO and Israel Aerospace Industries (IAI), Israel.

About the Missile: This MRSAM version is a Surface-to-Air Missile developed jointly by DRDO and Israel Aerospace Industries (IAI), Israel for use by the Indian Army. The MRSAM Army weapon system comprises multi-function radar, mobile launcher system and other vehicles. The flight tests were carried out with the weapon system in deliverable configuration.

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

 

2. IAF unveils ‘Fleet Card-Fuel on Move’ new initiative for refuelling: The Indian Air Force has unveiled a new initiative with the Indian Oil Corporation Ltd. Under it, IAF’s convoys will be refuelled at fuel stations of the state-run energy major. As per the Defence Ministry, ‘Fleet Card-Fuel on Move’ has been rolled out to facilitate the refuelling of convoys belonging to the Indian Air Force. Under the existing system, the Indian Air Force procures fuel from various agencies and then distributes it within the Air Force establishment.

With the advent of the Fleet Cards, the IAF will be able to utilise the vast network of retail fuel distributors across the country to refuel its vehicles on the move. The availability of Fleet Card will permit the convoy to refuel at any IOCL fuel station, thus increasing the pace of movement and reducing the lead time for readiness at operational locations across the nation.

Note: Indian Airforce founded: 08th October 1932; Indian Airforce Headquarters: New Delhi; Indian Airforce Chief of Air Staff: Vivek Ram Chaudhari.