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Wednesday, May 4, 2022

Daily GK Update- 4th May, 2022

 

NATIONAL UPDATES:

 

1. Chhattisgarh launched ‘Mukhyamantri Mitaan Yojana’: Chief Minister of Chhattisgarh, Bhupesh Baghel has launched ‘Mukhyamantri Mitaan Yojana’ (Mitaan stands for a friend), which will be implemented on a pilot basis in 14 municipal corporations including the cities like Raipur, Durg, Bilaspur and Rajnandgaon in Chhattisgarh. Under the Scheme, the residents of Chhattisgarh can avail around 100 public services at their doorstep.

In the first phase:

a)      13 services in 14 municipal corporation areas have been included under the ‘Mitaan’ scheme as announced by the CM in his budget speech for the fiscal year 2022-23.

b)      Under the Scheme, people can contact the ‘Mitaan’ (nominated individual) on the toll-free number (14545) for the service. The required documents of the residents will be collected from their homes through the Mitaan, who will then scan the certificates and get the processes rolling for the issuance of certificates or services.

c)       Once the concerned department issues the certificate, it will then be delivered at the citizen’s doorstep by the ‘Mitaan’ in a sealed envelope within the prescribed time limit.

 

2. Asia’s biggest international food and hospitality fair held in New Delhi: Agricultural and Processed Food Products Export Development Authority (APEDA) in association with the India Trade Promotion Organization (ITPO) is organizing Asia’s biggest international food and hospitality fair AAHAR-2022 at Pragati Maidan in New Delhi. Commerce and Industry Ministry said, more than 80 exporters from different segments of agricultural products which include geographical indication products, processed food, organic, and frozen food products will participate in the fair.

 

3. In a first, Maharashtra app maps workers’ migration for portability of ICDS scheme: In a first of its kind project in the country, the Maharashtra government has developed a website-based migration tracking system (MTS) application to map the movement of vulnerable seasonal migrant workers through individual unique identity numbers. The state government’s women and child development (WCD) department launched it as a pilot project in November last year in six districts with high tribal population including Gadchiroli, Chandrapur, Amravati, Jalna, Palghar and Nandurbar. The MTS project is envisaged to maintain the continuity of the Integrated Child Development Services (ICDS) like nutrition supply, immunisation and health check-up etc. to migrant beneficiaries including children aged up to 18 years, lactating mothers and pregnant women registered with the anganwadi centres.

 

4. J&K: India’s first cable-stayed bridge- Anji Khad Bridge to be complete by Dec 2022: India’s first cable-stayed bridge- Anji Khad Bridge will be complete by December this year in Reasi district of the Union Territory of Jammu and Kashmir. This was stated by Konkan Railways Project Officer Sanjay Kumar. Anji Khad Bridge is situated over the Anji river. It will connect the Katra-Reasi section at the Udhampur-Srinagar-Baramulla route. The 272-kilometer long Udhampur-Baramulla Railway Line will be a game-changer for the Union Territory and 80 percent of the work on the project has been completed.

 

5. Govt clears nearly Rs 61,000 cr subsidy for phosphate-based fertilisers for upcoming Kharif season: Union Cabinet has approved Nutrient Based Subsidy rates for Phosphatic and Potassic, P&K fertilizers for Kharif Season-2022. Mr Anurag Thakur said the government has approved over 60 thousand 939 crore rupees on P&K fertilizers which is applicable for six months from 1st of April  to 30th September 2022 to ensure smooth availability of these fertilizers to the farmers at affordable prices.

 

6. Punjab govt to pay Rs 1500 per acre assistance to farmers adopting direct sowing of paddy: Punjab Chief Minister Bhagwant Mann announced 1500 rupees per acre financial assistance to farmers adopting direct sowing of paddy so that the depleting water table could be saved. In a video message, Bhagwant Mann asked farmers to bring more agricultural land under direct sowing of paddy instead of the traditional paddy transplantation. Expressing concern over the depleting groundwater table day by day Mann said that some districts had fallen in red zone category. He said the traditional methods of paddy sowing leads to excessive consumption of water, which resulted in depletion of water table.

 

INTERNATIONAL UPDATES:

 

1. World Press Freedom Index 2022: India ranked 150th: Reporters Without Borders (RSF) has released the 20th World Press Freedom Index 2022, which assesses the state of journalism in 180 countries and territories. The Index highlights the disastrous effects of news and information chaos – the effects of a globalised and unregulated online information space that encourages fake news and propaganda.

Key points of the Index:

a)      India’s ranking in the Index has fallen down to 150th position from last year’s 142nd rank.

b)      The ranking of India’s neighbours, except that of Nepal, has also slid down, with the index placing. Nepal has climbed up by 30 points in the global ranking at 76th position.

c)       Pakistan at 157th position, Sri Lanka 146th, Bangladesh 162nd and Maynmar at 176th position.

d)      Norway (1st) Denmark (2nd), Sweden (3rd) Estonia (4th) and Finland (5th) grabbed the top positions, while North Korea remained at the bottom of the list of the 180 countries and territories.

e)      Russia was placed at 155th position, down from 150th last year, while China climbed up by two positions with the Reporters Without Borders placing it at 175th position. Last year, China was placed at 177th position.

f)        The invasion of Ukraine (106th) by Russia (155th) at the end of February reflects this process, as the physical conflict was preceded by a propaganda war.

 

2. International Firefighter’s Day: 4th May: International Firefighter’s Day is observed every year on May 4th to pay respect to those firefighting experts who have lost their lives in the line of duty. The main aim of this day is to recognise and honour professional firefighters across the world. They keep the community and the environment safe by sacrificing their lives for the riskiest jobs.

History of the Day: A tragic incident in Australia’s Linton led to the establishment of International Firefighters Day. This historical accident happened on December 02, 1998, which led to the taking of the lives of 5 firefighters. Therefore, a proposal was passed on January 04, 1999, to honour the firefighters who lost their lives on duty.

 

3. Coal Miners Day: 4th May: Coal Miners Day is observed on 4th May every year to honour the coal miners. The day is celebrated to highlight the contributions of coal miners in meeting our energy demands. Below, we share a bit of the history of coal mining, the current energy scenario, and the role of coal miners in India.

History of the day: The day honours the accomplishments and sacrifices made by coal mine workers so far. While the first-ever coal mine was opened in 1575 by one George Bruce of Carnock, Scotland. In India, the coal mining business began in 1774. It was when the East India Company exploited the Raniganj coalfield which is located in the Asansol and Durgapur It falls along the bank of River Damodar that crosses Jharkhand and West Bengal.

 

OTHER UPDATES:

 

SPORTS

 

1. Haryana government to build stadium in Neeraj Chopra’s hometown: Haryana Chief Minister Manohar Lal Khattar has announced that a stadium will be built in Olympic gold-medallist Neeraj Chopra’s native village in Panipat. A stadium would be built in Neeraj Chopra’s village for Rs 10 crore. Last year, Chopra became the first Indian to win a gold medal in the Olympic track and field.

Khelo India Youth Games-2021 will be organised by the Haryana Government from June 4 to June 13. Haryana has become a sports hub and players from the state have brought laurels at various national and international level sporting events. Haryana is also giving the highest prize money to its players.

 

BANKING AND FINANCE

 

1. Under Project WAVE, Indian Bank has launched a pre-approved personal loan: The public sector bank, The Indian Bank has presented a pre-approved personal loan product under Project WAVE. The Chennai-based bank announced the World of Advance Virtual Experience, WAVE digital transformation project in January 2022 to introduce its first digital product, the Pre-Approved Personal Loan (PAPL), which intends to give consumers with rapid loan disbursements.

Key Points:

a)      They proclaimed their commitment to ushering in an era of digital change at Indian Bank through project WAVE at the start of the year. They debuted their first PAPL product, which will only be available through internet outlets.

b)      The service is offered to existing clients who have regular income and pension accounts, as well as PAPL loan products, and can be accessed via a mobile application, the bank’s website, and internet banking.

c)       The loan would have a ten percent annual interest rate and no foreclosure fees.

d)      Indian Bank is giving the loan at the finest conditions available in the domestic market, with the option to choose loan tenure from 24 to 48 months and the ability to close the loan before time without penalty.

Note: Indian Bank’s managing director and CEO: S L Jain

 

2. India gets its 100th unicorn startup as neobank Open: India got its 100th unicorn when neobanking fintech portal, “Open”, raised fresh capital to push up its value to over a billion dollars. The five-year-old Bengaluru-based neobank raised $50 Mn in a Series D funding round from IIFL, Singaporean state holding company Temasek, American investment firm Tiger Global and another Indian firm 3one4 Capital. This helped its valuation cross the $1 bn mark.

The funding comes just six months after Google, Temasek, Visa, and Japan’s SoftBank invested $100 million in the neobank startup. This funding signifies the enthusiasm in the Indian startup ecosystem, which is the world’s third-largest according to Economic Survey, 2021-22. India overtook the UK to reach the spot after the US and China, which added 487 and 301 unicorns respectively, according to the survey.

 

3. Sangeeta Singh appointed as chairman of CBDT: Sangeeta Singh, a 1986 batch Indian Revenue Service (IRS) officer has been given additional charge of Chairman, Central Board of Direct Taxes (CBDT), after incumbent JB Mohapatra retired as the head of the direct taxes administration body on April 30. Currently, the board has four members including Sangeeta Singh.

Other appointments: Anuja Sarangi, a 1985 batch officer is holding charge of Member, Administration, and Faceless Scheme, Nitin Gupta is handling the charge of Investigation and Pragya Sahay Saksena is handling the charge of member legislation and systems.

Note: Central Board of Direct Taxes Formation: 1964; Central Board of Direct Taxes Headquarters: New Delhi.

 

BUSINESS AND ECONOMY

 

1. IRDAI authorise insurance companies for investment of 25% to 30% of assets in BFSI sector: The Insurance Regulatory and Development Authority of India (IRDAI) increased insurers’ maximum investment limit in banking, financial services, and insurance (BFSI) companies from 25% to 30% of their assets. The threshold for financial and insurance actions will now be 30 percent of investment assets for all insurers, according to the most recent modifications to IRDAI’s investment Regulations, 2016. This will include investments in home finance companies and infrastructure finance companies.

Key Points:

a)      Experts believe that the regulator’s increase will assist insurers in bringing their financial and insurance exposure closer to broader Indian market indexes.

b)      Financial services firms, which include significant banks, non-banking financial organisations (NBFCs), and insurance companies, have a present weightage of roughly 35 percent.

c)       The weightage of financial and insurance companies in broader Indian market indices has consistently increased over the last few years, according to Sampath Reddy, chief investment officer, Bajaj Allianz Life Insurance Co. Ltd.

 

OBITUARIES

 

1. Singer Tarsame Singh Saini aka Taz of Stereo Nation passes away: London-based Indian singer Tarsame Singh Saini, popularly known as Taz, passed away, aged 54. The singer from Stereo Nation was suffering from hernia for the last two years and breathed his last in London. Taz started his career with cross-cultural Asian music in the 80s.The singer debuted with the song Hit the Deck and shot to fame after that. Taz also went by the name Johnny Zee and is known for songs like Nachenge Saari Raat, Gallan Goriyan and Pyaar Ho Gaya. He was the lead singer of the band Stereo Nation that was formed in the 90s. He also lent his voice for films such as Koi Mil Gaya, Tum Bin and, recently, Gallan Goriyan from Batla House with Dhwani Bhanushali.

Tuesday, May 3, 2022

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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Monday, May 2, 2022

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.