Daily GK Update- 3rd May, 2022

 

NATIONAL UPDATES:

 

1. Cochin Shipyard to build India’s first home made Hydrogen-fuelled electric vessel: Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways, announced that the Ministry of Ports, Shipping and Waterways would develop and build India’s first indigenous hydrogen-fueled electric vessels at Cochin Shipyard Limited (CSL), kicking off the country’s efforts toward green shipping. Key Points:

a)      Transportation, commodities handling, stationery, and portable and emergency backup power applications are all possible applications for hydrogen fuel cells.

b)      Fuel cells fueled by Hydrogen are an efficient, environmentally friendly, zero-emission direct current (DC) power source that has already been used in heavy-duty bus, truck, and train applications and is now being developed for marine applications.

c)       Sonowal stated that the project would be carried out in partnership with Indian partners by the Cochin Shipyard.

d)      The shipyard has already started the groundwork in this area, partnering with KPIT Technologies and Indian developers for hydrogen fuel cells and power trains, as well as the Indian Register of Shipping (IRS) for drafting laws and regulations for such vessels.

e)      Fuel Cell Electric Vessel (FCEV), a hydrogen fuel cell vessel based on Low Temperature Proton Exchange Membrane Technology (LT-PEM), is expected to cost around 17.50 crore, with the Centre funding 75 percent of the cost.

 

2. CM Nitish Kumar inaugurated nation’s first ethanol plant in Purnia, Bihar: Bihar’s Chief Minister Nitish Kumar has inaugurated India’s first ethanol plant in Purnia district, Bihar. The plant has been set up by Eastern India Biofuels Private Limited at a cost of Rs 105 crores. Bihar came up with an ethanol production promotion policy in the first half of 2021. It is the country’s first grain-based ethanol plant. Key points:

a)      The plant, situated at Ganeshpur Parora, about 12 km from Purnia town, is spread over 15 acres of land.

b)      Purnia, Katihar, Araria and Kishanganj districts, known as the Seemanchal region, account for 80% of the total maize produced in Bihar and together produce 30-35 lakh metric tonnes (MTs) from April to August.

c)       Bihar came up with an ethanol production promotion policy in the first half of 2021.

d)      In Bihar, 17 ethanol production plants are being set up, which is likely to produce 35 crore litres of fuel every year by using sugarcane, molasses, maize and broken rice.

e)      The ethanol manufactured will be supplied to oil marketing companies for blending into petrol and diesel.

f)        Ethanol plants are being set up in Muzaffarpur, Bhojpur, Nalanda, Buxar, Madhubani, Begusarai, Gopalganj, East Champaran, Bhagalpur, besides Purnia.

Note: Bihar Capital: Patna; Bihar Governor: Phagu Chauhan; Bihar Chief Minister: Nitish Kumar.

 

3. Ex- petroleum secretary Tarun Kapoor appointed as advisor to PM Modi: Former petroleum secretary Tarun Kapoor has been appointed as an advisor to Prime Minister Narendra Modi, according to a government order issued. Kapoor, a 1987-batch IAS officer of the Himachal Pradesh cadre, superannuated as the secretary of the ministry of petroleum and natural gas on November 30, 2021.

Other Appointments:

a)      Senior bureaucrats Hari Ranjan Rao and Atish Chandra have been appointed as additional secretaries in the Prime Minister’s Office (PMO).

b)      Rao is a 1994-batch lAS officer of the Madhya Pradesh cadre and is currently an administrator at Universal Services Obligation Fund in the department of telecommunications.

c)       Chandra, Rao’s batchmate from the Bihar cadre, is currently chairman and managing director (CMD), Food Corporation of India, department of food and public distribution.

 

4. Rajasthan’s ‘Miyan ka Bada’ Railway Station renamed to ‘Mahesh Nagar Halt’:  ‘Miyan Ka Bada’ railway station in the Balotra area of Rajasthan’s Barmer district was renamed “Mahesh Nagar Halt.” Since Independence, the people of Mian Ka Bada in Rajasthan have demanded that the village’s name be changed, claiming that the village’s original name was Mahesh Ro Bado.

In 2018, the Rajasthan government changed the village’s name from Mian Ka Bada to Mahesh Nagar and made the necessary revisions in the revenue records. Proposals to rename the station were sent to the railway ministry when the village’s name was changed. In 2021, the name of the railway station was changed from Mian Ka Bada to Mahesh Nagar Halt after the proper procedures were followed, but the inauguration was postponed owing to the COVID-19 pandemic. The renamed station was finally inaugurated on April 30, 2022.

 

5. Rasheed Kidwai authored a book titled “Leaders, Politicians, Citizens”: “Leaders, Politicians, Citizens: Fifty Figures Who Influenced India’s Politics” authored by author-journalist Rasheed Kidwai compiles stories of 50 personalities who influenced India’s political landscape. The book is published by Hachette India. The foreword of the book is written by Shashi Tharoor, Member of Parliament (Lok Sabha). The 50 personalities featured in the book include Teji Bachchan, Phoolan Devi, Indira Gandhi, Rajiv Gandhi, Jayalalithaa, APJ Abdul Kalam, and Karunanidhi among others. Traversing ideologies and bringing into focus the human facet of governments, Leaders, Politicians, and Citizens presents a compelling history of Indian democracy and provides riveting insights into the evolution of its political culture.

 

INTERNATIONAL UPDATES:

 

1. NATO Exercises’ Defender Europe 2022 & Swift Response 2022 began: North Atlantic Treaty Organisation (NATO) exercise, Defender Europe 2022 (DE22) and Swift Response 2022 (SR22) began on May 01, 2022, aimed at building preparedness and interoperability between Allies and partners of the United States (US) and NATO. The exercises are scheduled from May 01 to May 27, 2022. Exercise Swift Response is an annual U.S. Army Europe and Africa multinational training exercise that takes place this year in Eastern Europe, the Arctic High North, Baltics, and Balkans. The exercise began in Poland and will be held in 8 other countries. The 5th Corps of the US Armed Forces is responsible for the command of the exercises. There will be approximately 18 000 participants from over 20 countries training together in both exercises. The portion of the exercises on Polish soil will see some 7,000 troops and 3,000 pieces of equipment.

Defender Europe 2022: DEFENDER-Europe 22 demonstrates the United States’ unshakable commitment to NATO and is a prime example of our collective capabilities. It shows that NATO’s allies and partners are stronger together.

Swift Response 2022: In the Swift Response exercise, the 6th Airborne Brigade will constitute the core of forces conducting an airborne operation. Some 550 Polish soldiers will be deployed to Lithuania and Latvia along with troops from the Czech Republic and the German-Dutch force.

Note: Poland Capital: Warsaw; Poland Currency: Polish złoty; Poland President: Andrzej Duda.

 

2. World Press Freedom Day: 3rd May: World Press Freedom Day is observed globally on 3rd May every year. The day pays tribute to journalists who have lost their lives. This year’s World Press Freedom Day theme “Journalism under digital siege,” spotlights the multiple ways in which journalism is endangered by surveillance and digitally-mediated attacks on journalists, and the consequences of all this on public trust in digital communications.

On 2-5, May 2022, UNESCO and the Republic of Uruguay are hosting the annual World Press Freedom Day Global Conference in a hybrid format in Punta Del Este, Uruguay. Under the theme “Journalism under Digital Siege,” the digital era’s impact on freedom of expression, the safety of journalists, access to information and privacy are to be discussed.

World Press Freedom Day History: It was in the year 1993 when the United Nations General Assembly declared 3rd May as the world freedom press day. This declaration came after a recommendation made in 1991 at the twenty-sixth general conference session of UNESCO. The declaration also came as a result of the 1991 Windhoek Declaration, a statement which was produced by African journalists about press freedom, presented at a seminar held by UNESCO, which concluded on 3rd May.

 

3. World Asthma Day: 3rd May: World Asthma Day is observed every year on the first Tuesday of May to spread awareness and care about asthma in the world. This year it falls on 3rd of May 2022. This year the theme is ‘Closing Gaps in Asthma Care’. Asthma, the chronic inflammatory disease of the airways, affects 300 million people worldwide and India alone has 15 million asthma patients.

History of World Asthma Day: World Asthma Day is annually organized by the Global Initiative for Asthma (GINA). In 1998, the first World Asthma Day was celebrated in more than 35 countries in conjunction with the first World Asthma Meeting in Barcelona, Spain.

 

OTHER UPDATES:

 

SPORTS

 

1. Real Madrid clinch 35th Spanish League title: Real Madrid clinched a record-extending 35th Spanish league title after its reserve squad comfortably defeated Espanyol 4-0. Rodrygo scored twice and Marco Asensio and substitute Karim Benzema added a goal each to give Madrid its second league title in three seasons, and third in six years.

With the title, Carlo Ancelotti became the first coach to lift trophies in the top five European leagues. The Italian manager won with AC Milan in Serie A, Chelsea in the English Premier League, Paris Saint-Germain in Ligue 1, and Bayern Munich in the Bundesliga.

 

2. Kerala beat West Bengal to lift their seventh Santosh Trophy title: Kerala beat West Bengal 5-4 in the penalty shootout to win the 75th Santosh Trophy 2022 at the Manjeri Stadium in Malappuram, Kerala. The teams were level 1-1 after extra time in a pulsating encounter in which plenty of chances were created at both ends with the finishing being astray. This is Kerala’s third win in a Santosh Trophy tournament on home soil. Earlier, they had won two editions in Kochi, in 1973-74 and 1992-93. Kerala captain Jijo Joseph, who was adjudged the player of the match for a commanding performance in the middle of the park.

Awardees:

Player of the Tournament: Jijo Joseph

Top scorer with nine goals: Jesin TK

 

BANKING AND FINANCE

 

1. HDFC Life joined the United Nations as a signatory: HDFC Life has joined the UN-backed Principles for Responsible Investment (PRI), demonstrating its commitment to long-term value creation and sustainable growth. HDFC Life is dedicated to the Responsible Investment principles (RI). This goal can be achieved by using the RI approach to investment decisions, which comprises core stewardship principles and consideration of environmental, social, and governance (ESG) considerations in addition to financial parameters and prospects. This approach is in line with HDFC Life’s vision of long-term growth. The company presently has about Rs. 2 lakh crores in assets under management.

PRI: PRI, or Principles for Responsible Investment, was founded in 2005 by the then-United Nations Secretary-General and a group of some of the world’s largest institutional investors. It is the world’s leading proponent of responsible investment. It aims to better understand the investment implications of environmental, social, and governance (ESG) factors and to assist its global network of investor signatories in incorporating these factors into their investment and ownership decisions. They currently have over 4,000 signatories from over 60 countries, representing assets worth over USD 120 trillion.

Note: Managing Director and Chief Executive Officer of HDFC Life: Vibha Padalkar

 

BUSINESS AND ECONOMY

 

1. GST revenue of April 2022: All-time high Rs 1.68 lakh crores: Goods and services tax (GST) collections hit an all-time high of Rs 1.68 lakh crore in April, indicating strong economic activity despite multiple headwinds and better tax compliance. The April number is up 20% from the year-earlier and Rs 25,000 crore more than the previous highest of Rs 1.42 lakh crore in March this year.

In April 2022, 10.6 million GST returns were filed compared with 9.2 million in the year earlier. Of the total, central GST amounted to Rs 33,159 crores, state GST was Rs 41,793 crore, integrated GST was Rs 81,939 crore while Rs 36,705 crore was collected on the import of goods. Cess collection was Rs 10,649 crore, including Rs 857 crore on import of goods. The government has settled Rs 33,423 crore toward central GST and Rs 26,962 crore toward state GST from the integrated GST.

List of previous months’ GST Collection

March 2022: Rs 1.42 Lakh crores

February 2022: Rs 1.33 Lakh crores

January 2022: Rs 1.38 Lakh crores

December 2021: Rs 1.29 Lakh crores

November 2021: Rs 1.31 lakh crores

 

DEFENCE

 

1. INS Vikrant, India’s first indigenous aircraft carrier, will be handed over to the Indian navy: The second sea trials of India’s first indigenous aircraft carrier (IAC) Vikrant began, ahead of her anticipated induction into the Indian Navy in August next year. In August, the 40,000-tonne aircraft carrier, India’s largest and most sophisticated warship, successfully conducted a five-day maiden sea cruise. Key Points:

a)      The battleship was built at a cost of approximately 23,000 crore, propelling India into a restricted group of countries with the capability to develop cutting-edge aircraft carriers.

b)      MiG-29K fighter jets, Kamov-31 helicopters, and MH-60R multi-role helicopters will be used by the warship.

c)       It features almost 2,300 compartments, with specialised quarters for female officers, and is meant for a crew of around 1,700 people.

d)      According to officials, Vikrant has a top speed of roughly 28 knots and a cruising speed of 18 knots, with a range of about 7,500 nautical miles.

e)      The IAC is 262 metres long, 62 metres wide, and stands 59 metres tall. It has been under construction since 2009.

f)        Cochin Shipyard Limited constructed the warship.

g)      INS Vikramaditya is India’s only aircraft carrier at the moment.

 

 

 

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Daily GK Update- 2nd May, 2022

 

NATIONAL UPDATES:

 

1. Maharashtra Cabinet approved first-of-its-kind ‘Maharashtra Gene Bank Project’: Maharashtra Cabinet approved the ‘Maharashtra Gene Bank’, a first-of-its-kind project in India. To conserve genetic resources in Maharashtra including marine diversity, seeds of local crops, and animal diversity. In the next five years, an amount of Rs 172.39 crores will be spent on these seven focus areas.

The ‘Maharashtra Gene Bank Project’ will work on seven themes: (1) Marine biodiversity; (2) Local crop/seed varieties; (3) Indigenous cattle breeds; (4) Freshwater biodiversity; (5) Grassland, scrubland, and animal grazing land biodiversity; (6) Conservation and management plans for areas under forest right; and (7) Rejuvenation of forest areas.

The project will be implemented by the Maharashtra State Biodiversity Board (MSBB) and will be overseen by committees under the chief secretary and the principal secretary (forests). The MSBB will coordinate with institutions like the National Institute of Oceanography (NIO) Goa to document and conserve rare and endangered marine species.

Major activities under the project:

a)      Indigenous knowledge resources will be tapped.

b)      The species and the knowledge of local communities will be well documented.

c)       Genetic and molecular samples will be preserved and their breeders will be supported.

d)      To preserve crop biodiversity, the government will encourage genome carriers who conserve seeds of local crop varieties and create seed banks.

Note: Maharashtra Capital: Mumbai; Maharashtra Governor: Bhagat Singh Koshyari; Maharashtra Chief Minister: Uddhav Thackeray.

 

2. To upgrade railway telecommunications, Railway Ministry signs an agreement with the C-DOT: The Ministry of Railways and the Centre for Development of Telematics (C-DOT) signed a memorandum of understanding (MoU) to form a strong collaborative working partnership for coordination and resource sharing in the provision of telecommunication facilities in the delivery and implementation of C-Telecom DOT’s Solutions and services in railways. Key Points:

a)      This MoU will allow C-DOT and the Ministry of Railways to collaborate on telecommunications modernization in Indian Railways for Public Safety and Security Services using Long Term Evolution (LTE-R) for Railways in accordance with world standards, 5G Use Cases in Indian Railways in accordance with Make in India policy, Internet of Things, Unified Network Management System, Network Management System, Video Conference software, Chatting application, Routers and Switches.

b)      Long-Term Evolution for Railways (LTE-R) is a next-generation communications network specialised to railway services, allowing high-speed wireless voice and data connections within trains, as well as between trains.

c)       The collaboration between C-DOT and the Ministry of Railways will lower the total cost of ownership of indigenous telecom equipment and services for train operations, public safety, and security applications, boosting the Government of India’s Make in India initiative and bridging the digital divide in the country.

 

3. Qualcomm India has teamed up with MeiTY’s C-DAC to assist Indian chipset startups: Qualcomm India Private Limited, a subsidiary of Qualcomm Inc., proposes to launch and run the Qualcomm Semiconductor Mentorship Program 2022 for selected semiconductor startups in India, with the goal of providing mentorship, technical training, and industry outreach. Qualcomm India has established a partnership with the C-DAC, an autonomous scientific society within the Ministry of Electronics and Information Technology of the Government of India, which will serve as an outreach partner for the programme and help participating entrepreneurs gain exposure. Key Points:

a)      Qualcomm India would support technological breakthroughs as well as intellectual-property-driven innovation and product development in the Indian ecosystem.

b)      It will aid in the reduction of innovation risks, the acceleration of company development, and the development of soft skills and knowledge bases among Indian semiconductor design companies.

c)       It will provide chosen startups with access to domain experts, venture capitalists, accelerators, incubators, industry groups, and significant corporations that can assist them in scaling up their businesses.

d)      Qualcomm India will provide platforms and forums to allow high-growth-potential small businesses and startups to collaborate on potentially disruptive technologies that could shape or develop semiconductor supply chains in the future.

 

4. Vinay Mohan Kwatra assumes charge as India’s new Foreign Secretary: Vinay Mohan Kwatra took charge as India’s new Foreign Secretary. A 1988-batch Indian Foreign Service (IFS) officer, Mr Kwatra succeeded Harsh Vardhan Shringla who retired from service. Mr Kwatra was serving as India’s envoy to Nepal before assuming the charge of the Foreign Secretary.

 

5. Lt Gen BS Raju appointed as Vice Chief of Indian Army: The Indian Army’s Director General of Military Operations, Lieutenant General Baggavalli Somashekar Raju has been appointed as the Vice Chief of the Army Staff from May 1. He was an alumnus of Sainik School Bijapur and National Defence Academy and commissioned in the Jat Regiment on December 15, 1984. He had commanded a battalion during Operation Parakram in the Western Theatre and J&K. He has been awarded the Uttam Yudh Seva Medal, Ati Vishisht Seva Medal, and Yudh Seva Medal.

Before taking over the new role, Lt General BS Raju was serving as the Director-General of Military Operations during the standoff on the LAC, the de facto border between India and China. The two countries have been locked in a standoff since June 2020 when both sides lost several troops.

 

INTERNATIONAL UPDATES:

 

1. World Tuna Day: 2nd May: World Tuna Day is observed globally on 2nd May every year. This day is established by the United Nations (UN) to raise awareness about the importance of tuna fish. Tuna is a significant source of food for humans as the fish has several rich qualities such as Omega 3, Vitamin B12, proteins and other minerals.

Tuna is mainly procured for two things namely traditional canned Tuna and Sashimi/Sushi. World Wildlife Fund (WWF), environmental groups have now warned the fisheries and Tuna now falls under endangered species. This day aims at spreading awareness about the overfishing of Tuna and the importance of maintaining the ecosystem and the food chain.

History of World Tune Day: In the year 2016, the General Assembly of the UN declared May 2 as World Tuna Day to spread awareness among people regarding the importance of conserving Tuna fish. In the past few years, the population of Tuna fish has declined by more than 97 per cent due to overfishing and Illegal fishing. So to save Tuna from getting extinct, the UN announced a special day and appeal to people to conserve Tuna.

 

OTHER UPDATES:

 

SPORTS

 

1. PV Sindhu won bronze at Asian Badminton Championships: In Asia Badminton Championships, India’s P.V. Sindhu won her second Asian bronze medal after a heartbreaking three-game loss to top-seed and defending champion Akane Yamaguchi of Japan in the semifinal in Manila. She had won her first bronze in the Asia Badminton Championships 2014 Gimcheon edition.

Sindhu has assured a medal in the championship when she defeated He Big Jiao of China by 21-9,13-21 and 21-19 in the quarterfinal. She has won silver in 2016 Rio de Janeiro, and bronze in 2020 Tokyo.

 

BANKING AND FINANCE

 

1. Union Bank becomes first public sector bank to go live on Account Aggregator framework: Union Bank of India became the first public sector bank to go live on the Account Aggregator (AA) ecosystem. The framework facilitates sharing of financial information on a real-time basis between regulated entities. AAs are licensed by the Reserve Bank of India to enable the flow of data between Financial Information Providers (FIPs) and Financial Information Users (FIUs).

The Account Aggregator Ecosystem helps the Lenders to leverage Digital data acquired with the consent of the Customers for providing them with a seamless journey and eliminating the need of physical documentation. Financial Information User (FIU) can request data from the Financial Information User (FIP) based on a simple consent given by the Customer on their Account Aggregator handle.

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

 

2. RBI changes the rules for banks participating in KCC’s short-term agricultural loan plan: The Reserve Bank of India (RBI) changed the rules for banks to claim the amount of interest subsidies paid to farmers under the short-term crop credit plan via the Kisan Credit Card (KCC) during the previous fiscal year. Key Points:

a)      The Reserve Bank of India (RBI) announced in a circular that pending claims for the fiscal year 2021-22 can be submitted by June 30, 2023, and that they must be duly certified by statutory auditors “as true and correct.”

b)      The government grants banks a 2% annual interest subsidy in order to assist farmers with short-term crop loans of up to Rs 3 lakh at a 7% annual interest rate.

c)       Farmers that repay their loans on time will receive an additional 3% interest subsidy. The effective interest rate for these farmers is 4%.

d)      Banks must submit their claims on an annual basis, duly certified by their statutory auditors as true and correct, within a quarter of the year’s end, according to the circular on ‘Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC)‘ during 2021-22.

Note: Governor of Reserve Bank of India (RBI): Shri Shaktikanta Das

 

BUSINESS AND ECONOMY

 

1. Under Airtel Startup Accelerator Program, Bharti Airtel purchase 7% equity in Cnergee Technologies: Bharti Airtel, India’s second-largest telecom operator, announced that the Airtel Startup Accelerator Program has acquired a 7% investment in cloud-based networking solutions firm Cnergee Technologies. Cnergee, situated in Navi Mumbai, specialises in cloud-based comprehensive networking solutions for enterprises of all kinds. Key Points:

a)      The telco purchased the interest at a pre-money enterprise valuation that was mutually agreed upon, but the figure was not disclosed due to confidentiality concerns.

b)      Airtel said in a statement that the stake purchase will allow it to strengthen its NaaS offering for Small and Medium Businesses (SMBs) aiming to speed their transition to cloud-based applications.

c)       The Navi Mumbai-based business has created a set of 5G-ready software tools for Network-as-a-Service (NaaS) that can be scaled up to enable zero-touch service provisioning, central remote monitoring, and management of all connected devices, as well as a variety of real-time analytics.

d)      Through its integrated portfolio of connectivity, conferencing, cloud & data centres, cyber security, IoT, Ad-tech, and other services, Airtel Business serves over one million enterprises of all sizes.

 

2. Former Amazon Music CEO Sahas Malhotra joins JioSaavn as CEO: JioSaavn has named Sahas Malhotra, a former Amazon Music director and entertainment industry expert, as its new CEO. Previously, Sahas Malhotra worked for Sony Music India and Tips Industries. Sahas Malhotra was the business leader at Tips Music and the marketing director for Tips Film Production at Tips Industries. From the JioSaavn company’s Mumbai headquarters, Sahas Malhotra will manage the company’s efforts in the rapidly changing and fascinating Indian market.

About JioSaavn: JioSaavn is an audio streaming service for South Asian music and artists that was founded in 2007 as Saavn. Reliance Industries Limited (RIL) bought a majority share in the company in March 2018. JioSaavn is claimed to have a monthly active user base of over 100 million people.

 

DEFENCE

 

1. Indian Army Red Shield Division signs MoU for ‘Manipur Super 50’: Red Shield Division of the Indian Army under the aegis of Spear Corps entered into a tripartite agreement with the State Bank of India Foundation (SBIF) and the National Integrity and Educational Development Organization (NIEDO) to establish ‘Red Shield Centre for Excellence and Wellness’ in Manipur’s Bishnupur district. The project ‘Manipur Super 50’ is expected to be fully functional for the first batch of 50 students by the first week of July 2022. Key points:

a)      This initiative will be able to create a feeling of mental and social well-being amongst parents and their children by providing quality education thus catering for a better life and evolving responsible citizens for our country.

b)      The centre which will be opened in Bishnupur Battalion will remain as instrumental in bringing a progressive and inclusive society.

c)       The MoU signing ceremony was also attended by GOC Red Shield Division, state DGP and a host of senior veterans, and military and civil dignitaries. More than 100 students from various schools witnessed the MoU signing.

Daily GK Update- 1st May, 2022

 

NATIONAL UPDATES:

 

1. World Bank approved $47 million program for India’s Mission Karmayogi program: The World Bank has approved a USD 47 million projects to support the Government of India’s Mission Karmayogi, a national program to build civil service capacity. There are nearly 18 million civil servants employed across India, with approximately two-thirds at the state government and local authority levels. The Bank’s financing aims to support the Government’s objectives of enhancing the functional and behavioural competencies of approximately four million civil servants. It will focus on three components: the development and implementation of competency frameworks; the development of an integrated learning platform; and program monitoring, evaluation, and management. About the project:

a)      The Project is aligned with the India Country Partnership Framework (CPF) FY18-22 which includes strengthening public sector institutions as one of the four areas of engagement for the World Bank in India.

b)      The project is also aligned with the World Bank’s twin goals of ending extreme poverty and building shared prosperity, as building the capabilities of government officials to implement policy priorities and deliver effective services is critical to the achievement of these aims.

 

2. In Bengaluru, Prime Minister Modi introduced the Semicon India Conference 2022: The Semicon India Conference-2022 will be inaugurated by Prime Minister Narendra Modi. Bengaluru will host this three-day conference. According to a Ministry of Electronics and Information Technology (MeitY) statement, the three-day conference is being held to advance Prime Minister Narendra Modi’s objective of making India a leader in electronics manufacturing, semiconductor design, production, and innovation. Key Points:

a)      The conference is intended to serve as a springboard for the country’s aspiration to become a worldwide semiconductor hub and to develop the chip design and manufacturing ecosystem.

b)      This conference will feature eminent specialists from industry associations, research organisations, and academia.

c)       They will discuss policy, talent, and the government’s role and efforts in fostering a favourable growth environment for the country’s semiconductor ecosystem.

d)      Minister of State for MeitY Rajeev Chandrasekhar earlier stated that the Semicon India 2022 conference will attract the best minds from around the world from the semiconductor industry, research, and academia, and will serve as a major step toward realising Prime Minister Narendra Modi’s vision of making India a global hub for electronics manufacturing and semiconductor industry.

 

3. New Space India Limited and OneWeb signed for satellite launches: One Web, a Bharti group company, and New Space India Limited, the commercial arm of the Indian Space Research Organisation, have signed a satellite launch deal. The Satish Dhawan Space Centre (SDSC) at Sriharikota, Andhra Pradesh, is expected to launch New Space in 2022. Key Points:

a)      OneWeb’s whole in-orbit constellation of 428 satellites, or 66% of the intended total fleet, will be added to the global network to enable high-speed, low-latency connectivity.

b)      This launch contract follows a separate agreement announced in March 2022 between OneWeb and SpaceX to allow the firm to resume satellite launches.

c)       As demand for OneWeb’s broadband connectivity services continues to rise from a variety of sectors and markets, the firm has already activated service with its network above the 50th parallel and above.

d)      The upcoming launches will add to OneWeb’s total in-orbit constellation of 428 satellites, accounting for 66% of the planned total fleet, in order to build a global network that will deliver high-speed, low-latency satellite broadband services to rural and remote areas around the world, including India.

OneWeb is launching a global fleet of 648 low-earth-orbit satellites.

Note: NSIL CMD Radhakrishnan Durairaj; NSIL Director, Technical & Strategy: Arunachalam; ISRO Chairman: Sreedhara Panicker Somanath

 

4. Statehood Day 2022 of Maharashtra and Gujarat: Maharashtra and Gujarat celebrated their statehood day on 1st May 2022. On May 1st, 1960, the bilingual state of Bombay was divided into two separate states by the Bombay Reorganisation Act, 1960: Maharashtra for Marathi speaking people and Gujarat for Gujarati speaking people. Gujarat was established as the 15th state of the Indian Union.

Maharashtra

a)      Capital: Mumbai

b)      Sex Ratio: 929 female per 1000 male (National: 943)

c)       Literacy: 82.34% (National: 74.04%)

d)      Arabian Sea guards the western boundary of Maharashtra, while Gujarat and Madhya Pradesh are on the northern side. Chhattisgarh covers the eastern boundary of the State. Karnataka and Telangana are on its southern side.

e)      The State has been identified as the country’s powerhouse and Mumbai, its capital as the centre point of India’s financial and commercial markets.

Gujarat

a)      Capital: Gandhinagar

b)      Sex Ratio: 919 female per 1000 male (National: 943)

c)       Literacy: 78.03% (National: 74.04%)

d)      The state is bounded by the Arabian Sea in the west, Pakistan and Rajasthan in the north and north-east respectively, Madhya Pradesh in the south-east and Maharashtra in the south.

e)      Gujarat is the first state in the nation to start a separate department of ‘climate change’ to tackle the issue of global warming.

 

INTERNATIONAL UPDATES:

 

1. Russia withdraws from UN tourism body ahead of vote on its suspension: Russia is withdrawing from the United Nation’s tourism body, the UN World Tourism Organization ahead of a vote to suspend Moscow’s membership over its military operation of Ukraine. The UNWTO announced in March that it wanted to suspend Russia over its invasion of Ukraine.

It said that the decision must be approved by two-thirds of its 159 member states at a two-day extraordinary general assembly.

 

2. World Laughter Day: 1st May: World Laughter Day is celebrated on the first Sunday of every May to remind people to laugh and make those around them laugh. This year the day is celebrated on 1st May. It has been scientifically observed that laughter tends to decrease the cortisol level in the brain, which subsequently, affects positively on the body. Laughter has utmost importance when it comes to lifting the mood or tweaking the train of thought that is not heading in the right direction.

World Laughter Day History: World Laughter Day was first celebrated in Mumbai in 1998 when Dr Madan Kataria, founder of the Laughter Yoga Movement, highlighted a theory through that movement. He hypothesised that facial movements could reflect the mental state of a person. And so, slowly and gradually, parks and fields in the morning started filling up with roars of laughter. And this is how, with the advent of Laughter Yoga, was born the World Laughter Day.

 

3. International Labour Day: 1st May: International Labour Day is observed globally on 1st May every year. It is also known as International Worker’s Day and May Day. The day is celebrated to spread awareness about Labour’s rights and mark their achievements. The day aims to pay tribute to workers’ sacrifices in achieving economic and social rights all over the world.

History of International Labour Day: This all started in 1886 when on 1st May when people in the United States of America started a strike to fix the working duration to a maximum of 8 hours per day. Soon, there was a bomb blast that took place on 4th May in Haymarket Square of Chicago in which many people died and many others were severely injured. With respect to those who died in the incident, the socialist pan-national organization started on 1st May as International Labour Day which also promoted labour welfare throughout the world.

In India, the first Labour Day or May Day was celebrated in Madras (now known as Chennai) by the Labour Kisan Party of Hindustan on May 1, 1923. It was also the first time when the Red Flag which symbolises Labour Day was used in India for the first time. In Hindi, Labour Day is also known as Kamgar Din or Antarrashtriya Shramik Diwas, Kamgar Divas in Marathi and Uzhaipalar Naal in Tamil.

 

OTHER UPDATES:

 

SPORTS

 

1. Ravi Dahiya completes hat-trick of gold medals at Asian Wrestling Championships: Tokyo Olympics silver medallist Ravi Kumar Dahiya became the first Indian male wrestler to win 3 gold medals at the Asian Championships when he finished on the top step of the podium in the 57kg category in Mongolia. Ravi Kumar Dahiya won the gold medal bout in the men’s 57kg freestyle category, beating Kazakhstan’s Rakhat Kalzhan on technical superiority. Ravi had won gold at the 2020 edition of the Asian Wrestling Championships in Delhi and in Almaty last year.

 

BANKING AND FINANCE

 

1. ICICI Bank launched India’s ‘open-for-all’ digital ecosystem for MSMEs: ICICI Bank has launched India’s first ‘open-for-all’ comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs) in the country, which can also be used by the customers of other banks. Anyone can use the benefits of digital solutions on the InstaBIZ app. MSMEs customers of other banks can avail of a host of services by logging in as a ‘Guest’ in the app. It provides sanctions of instant and paperless overdraft facility up to Rs 25 lakh through ‘InstaOD Plus’.

The benefits of the new digital ecosystem can be availed by downloading the latest version of the InstaBIZ app, a super app for businesses. The app is available on Google Play, Apple App Store and at the bank’s Corporate Internet Banking (CIB) platform. The ecosystem offers the facility of digital and instant current account opening through video KYC.

Note: ICICI Bank Headquarters: Vadodara; ICICI Bank MD & CEO: Sandeep Bakhshi; ICICI Bank Chairperson: Girish Chandra Chaturvedi; ICICI Bank Tagline: Hum Hai Na, Khayal Apka.

 

2. RBI: India among worst-hit in pandemic, economy will recover in 13 years: The Reserve Bank of India (RBI) in its latest report said India was one of the worst-hit nations during the Covid-19 pandemic and that it will take up to 13 years for India to fully recover from the scars of the Covid-19 pandemic. India suffered among the biggest pandemic induced losses in the world in terms of output, lives and livelihoods, which may take years to recover. Economic activity has barely recovered to pre-COVID levels even after two years.

According to the report:

a)      The pre-COVID trend growth rate works out to 6.6 per cent (CAGR for 2012-13 to 2019-20) and excluding the slowdown years it works out to 7.1 per cent (CAGR for 2012-13 to 2016-17).

b)      Taking the actual growth rate of (-) 6.6 per cent for 2020-21, 8.9 per cent for 2021-22 and assuming a growth rate of 7.2 per cent for 2022-23, and 7.5 per cent beyond that, India is expected to overcome COVID-19 losses in 2034-35.

c)       The RBI report further added that the pandemic is a watershed moment and the ongoing structural changes catalysed by the pandemic can potentially alter the growth trajectory in the medium-term.

d)      Sustained thrust on capital expenditure by the government, push to digitalisation and growing opportunities for new investment in areas like e-commerce, start-ups, renewables and supply chain logistics could in turn, contribute to step up the trend growth while closing the formal-informal gap in the economy.

 

BUSINESS AND ECONOMY

 

1. Former SBI chairman Rajnish Kumar joined Indifi Technologies as advisor: Online lending platform, Indifi Technologies has appointed former chairman of SBI, Rajnish Kumar as an advisor. Presently, he sits on the boards of HSBC Asia Pacific, L&T Infotech, Hero MotoCorp and BharatPe. As an advisor, he will engage with the management on the company’s growth strategy and provide guidance in the financial services sector. In this capacity, Kumar will engage with the management on the company’s growth strategy and provide guidance in the financial services sector.

 

2. Air Asia to merge by Tata Group with Air India 2022: The Tata Group has been attempting to improve Air India’s performance since its takeover in January 2022. That includes its on-time performance. The Tata’s most recent job is to consolidate their aviation operations. The Competition Commission of India (CCI) has already been notified of Air India’s intention to merge with AirAsia India. Key Points:

a)      In December 2020, Tata increased its stake in AirAsia India to 67 percent.

b)      AirAsia India, which began operating in June 2014, provides scheduled passenger, cargo, and charter flight services throughout the country.

c)       It does not operate on a global scale.

d)      In January of this year, Tata acquired Air India and Air India Express. It made a bid of Rs 18,000 crore, which included a cash payment of Rs 2,700 crore and the assumption of the carrier’s debt of Rs 15,300 crore.

e)      Vistara Airlines is also owned by the Tata group, although it has opted out of the merger plan so far.

f)        Singapore Airlines, a joint venture partner in Vistara, may not want a stake in the combined Air India because it competes with the Indian carrier on foreign routes, according to sources.

g)      Tata Group, which includes Air India, Vistara, and AirAsia, has a combined market share of 9%, making it the second-largest domestic airline business behind IndiGo.