Daily GK Update- 6th May, 2022

 

NATIONAL UPDATES:

 

1. India to be ‘Country of Honour’ at Cannes Marche’ Du Film in France: Union Minister for Information and Broadcasting, Anurag Thakur has announced that India will be the official Country of Honour at the upcoming Marche’ Du Film, organized alongside the 75th edition of the Cannes Film Festival, in France. The Country of Honour Status thereby ensured India’s presence as Focus Country at the Opening Night of Marche Du Films being organized at the Majestic Beach with a spotlight on India, its cinema, its culture & heritage.

Key Points:

a)      India is also a “Country of Honour at the Cannes Next, under which 5 new Start-Ups would be given an opportunity to pitch to the Audio-Visual Industry. Ten professionals will participate in the Animation Day networking.

b)      In another highlight of India’s participation at this edition of the Cannes Film Festival is the World Premiere of the Movie “Rocketry” produced by Shri. R. Madhavan. The movie would be showcased at the Palais des Festivals of the market screening on the 19th of May 2022.

c)       India has been given an opportunity to pitch 5 selected movies at the “Goes to Cannes Section”. These movies are part of the Work In Progress lab under the Film Bazaar :

Baghjan by Jaicheng Zxai Dohutia – Assamese, Moran

Bailadila by Shailendra Sahu – Hindi, Chhattisgarhi

Ek Jagah Apni (A Space of Our Own) by Ektara Collective – Hindi

Follower by Harshad Nalawade – Marathi, Kannada, Hindi

 

2. Telangana govt extends insurance coverage under ‘Nethanna Bima’ scheme: Telangana State Government has announced the extension of insurance coverage to handloom and power loom weavers under the ‘Nethanna Bima’ (Weaver’s Insurance) Scheme. The State Government has issued orders to extend insurance coverage of 5 lakh rupees for weavers under the Insurance Scheme on par with farmers’ insurance schemes.

Under the Scheme:

a)      Over 29 crore rupees have been sanctioned for implementing the scheme during the current year. The Cabinet Sub Committee had proposed to cover over 55 thousand handloom and power loom and ancillary weavers in the State.

b)      The insurance coverage will be extended to weavers in the age group of 18 to 59 years. The insurance benefits would be extended to the family of the death of the weaver or ancillary worker. The scheme is likely to be launched next month.

c)       The department has been directed to prepare draft guidelines and submit to the government for implementation of the scheme, said a senior official from the Handlooms department.

 

3. Hyderabad hosts India’s first-ever unique kind of Flow Chemistry Technology Hub: At Dr. Reddy’s Institute of Life Sciences (DRILS), a multi-industry-supported Flow Chemistry Technology Hub (FCT Hub) has been launched. While inaugurating the hub, Jayesh Ranjan, Principal Secretary of the Industries and Commerce (I&C) and Information Technology (IT), said that this is the first of its kind in our country and an enabler for the pharma business in India.

Key Points:

a)      This hub would usher in a paradigm shift in the pharmaceutical sector, including current methodologies from R&D through manufacturing and migrating to more environmentally friendly and sustainable procedures.

b)      This hub is a groundbreaking endeavour by the Telangana government, in collaboration with Dr. Reddy’s Laboratories and Laurus Labs, to incorporate and promote efficient and sustainable technology in the pharmaceutical industry.

c)       The FCT Hub houses a variety of state-of-the-art flow chemistry equipment to provide hands-on training and promote scientific capability building, ensuring greater inclusion of flow chemistry techniques throughout pharma R&D and greater adoption of constant synthesis for active pharma ingredients (APIs) manufacturing.

d)      Last year, the state administration took the lead in bringing together numerous collaborators to help the state implement the latest flow chemistry technologies.

 

4. Maharashtra’s ‘Jivhala’ scheme to offer credit to jail inmates: A loan scheme named Jivhala has been launched by the Maharashtra Department of Prisons for the inmates who are serving sentences in various jails across Maharashtra. The scheme, implemented by the Department of Prisons and Maharashtra State Cooperative Bank, has been started in Pune’s Yerawada Central Jail. Bank and prison officials believe the credit scheme could be the first of its kind in India for inmates who are still serving their sentences.

The credit scheme, named Jivhala, which means affection in Marathi, is primarily for inmates who are undergoing a prison sentence of more than three years. In the initial phase of this scheme, a Rs 50,000 loan will be given. The interest rate that will be applicable is 7%. Out of the interest that will be earned by the bank, 1 per cent will be contributed by the bank to the prisoners’ welfare fund. For issuing this loan no guarantor or mortgage is required.

 

INTERNATIONAL UPDATES:

 

1. Nand Mulchandani named as 1st-ever chief tech officer of CIA: Indian-Origin, Nand Mulchandani has been appointed as the first-ever Chief Technology Officer (CTO) of the Central Intelligence Agency (CIA), the first line of defence for the United States. Prior to this, he served as the CTO and acting director of the Joint Artificial Intelligence Centre under the US Department of Defence. He served as the CEO of multiple successful startups like Oblix (acquired by Oracle), Determina, OpenDNS, and ScaleXtreme. Before joining the CIA, Mulchandani most recently served as the CTO and acting director of the US Department of Defense’s Joint Artificial Intelligence Center.

Note: Central Intelligence Agency Founder: Harry S. Truman; Central Intelligence Agency Founded: 26 July 1947; Central Intelligence Agency Headquarters: Langley, McLean, Virginia, United States; Central Intelligence Agency Director: William J. Burns; Central Intelligence Agency Deputy Director: David S. Cohen.

 

2. Times Higher Education (THE) Impact Rankings 2022: India ranked 4th: The Times Higher Education (THE) has released the 2022 edition of its Impact Rankings. 8 Universities from India are placed in the top 300 universities in the world. The ranking is topped by Western Sydney University (Australia); followed by Arizona State University (The US), Western University (Canada). This year, a record 1,524 institutions from 110 countries participated in the rankings. Australia’s Western Sydney University secured the top position globally in the overall ranking.

Key points:

a)      India is the joint fourth most-represented nation across the rankings, with 64 universities featuring in total (the same number as Turkey).

b)      In South Asia, India breaks through into the world’s top 50, with Amrita Vishwa Vidyapeetham claiming 41st place in the overall table. Lovely Professional University makes the top 100 at joint 74th place in the overall table.

c)       Calcutta University has been ranked first among all the central and state-aided public universities in the country by Times Higher Education (THE) Impact Rankings 2022. Calcutta University grabbed 14th position globally in the ‘Decent Work and Economic Growth’ sub-category.

 

3. International No Diet Day: 6th May:  ‘International No Diet Day 2022’ is celebrated all over the world on 6 May. On this day, people are made aware of body acceptance, leaving aside behaviour like body shaming, which includes people of all shapes and sizes. Forgetting problems like obesity, increasing weight, weakness, and belly fat, people express their love towards themselves on this day.

History of International No Diet Day: In the year 1992, International No Diet Day was celebrated for the first time in the UK by British lady Mary Evans. Mary’s purpose was to convince people that they should accept themselves as they looked. Mary wanted people to become aware of the harm caused by dieting.

 

OTHER UPDATES:

 

SPORTS

 

1. BCCI bans journalist Boria Majumdar for 2 years in Wriddhiman Saha case: The Board of Control for Cricket in India (BCCI) has banned journalist Boria Majumdar for two years after an internal inquiry found him guilty of an attempt to “threaten and intimidate” wicketkeeper Wriddhiman Saha. The BCCI apex council, during its meeting last week, considered the report of a three-member committee and decided to ban Majumdar from being involved in any cricket or interviewing cricketers for two years. The BCCI Committee considered the submissions by both Mr Saha and Mr Majumdar and concluded that the actions by Mr Majumdar were indeed in the nature of threat and intimidation. The BCCI Committee recommended the following sanctions to the Apex Council of BCCI.

The Apex Council of BCCI agreed with the recommendations of the BCCI Committee and imposed the following sanctions:

a)      2 (two) year ban on getting any accreditation as a member of the press in any of the cricket matches (domestic and international) in India;

b)      2 (two) year ban on getting any interview with any registered players in India; and

c)       2 (two) year ban on access to any of BCCI and members associations owned cricket facilities.”

 

2. 24th Deaflympics: Dhanush Srikanth won gold in men’s 10m air rifle: Shooter Dhanush Srikanth has won gold and Shourya Saini has won the bronze in the men’s 10m air rifle competition in the 24th Deaflympics at Caxias do Sul, Brazil. Later, the Indian badminton team also won gold after beating Japan by 3-1 in the final to make it a double celebration for the country. Ukraine is leading the chart with 19 gold, six silver and 13 bronze medals. With two gold and one bronze medal, India has placed eighth on the medals table.

 

BANKING AND FINANCE

 

1. Canara Bank tied-up with ASAP to launch skill loans: Canara Bank has launched ‘skill loans’ in association with the Additional Skill Acquisition Programme (ASAP), Kerala, the government company under the Higher Education Department. Under this facility, the loan is ranging from Rs 5,000 to Rs 1.5 lakh. This loan can be availed of by students who are pursuing skill training programmes which are offered by ASAP Kerala or any other Central or State government-recognised agencies.

Collateral free loans will be provided to students and have a repayment period of three to seven years. Students can also avail themselves of a moratorium on repayment for the duration of the course and for an additional 6 months.

Note: Canara Bank Establishment: 1 July 1906; Canara Bank Headquarters: Bangalore, Karnataka; Canara Bank CEO & MD: Lingam Venkat Prabhakar; Canara Bank Tagline: Together we can.

 

BUSINESS AND ECONOMY

 

1. InterGlobe Aviation appointed Venkataramani Sumantran as chairman, Board of Directors: InterGlobe Aviation announced that Venkataramani Sumantran hasAppointments been named chairperson of the IndiGo board. Sumantran is a corporate leader, technocrat, and academician with a 37-year career spanning the United States, Europe, and Asia. Sumantran is the managing director and chairperson of Celeris Technologies, a strategic advising firm. At IndiGo, he will succeed Meleveetil Damodaran.

 

AWARDS AND HONOURS

 

1. World Food Prize 2022 received by NASA’s Cynthia Rosenzweig: A senior research scientist and head of the Climate Impacts Group at NASA’s Goddard Institute for Space Studies (GISS) in New York City, Cynthia Rosenzweig has received the 2022 World Food Prize from the World Food Prize Foundation. Rosenzweig was selected for the award for her research to understand the relationship between climate and food systems and forecast how both will change in the future. Her modelling work has provided a foundation for decision-makers around the world to create strategies to mitigate climate change and adapt our food systems to a changing planet, which has helped communities worldwide address the consequences of Earth’s changing climate.

About the Cynthia Rosenzweig: Rosenzweig has been a research scientist at NASA GISS and head of the Climate Impacts Group since 1994. Her research focuses on improving models and assessments of how climate change will affect agriculture and the food supply in the future. She uses data from NASA satellites and models to study agricultural regions around the world and how they are changing.

About the World Food Prize: According to the World Food Prize Foundation, the World Food Prize is a prestigious international award conceived as the “Nobel Prize for Food and Agriculture” with a mission to elevate innovations and inspire action to sustainably increase the quality, quantity and availability of food for all. Reward(s): A diploma, a commemorative sculpture and a monetary award of US$ 250,000.

 

OBITUARIES

 

1. Last Surviving F1 Race Winner from 1950s Tony Brooks Passes Away: Tony Brooks, a British racing driver who won six Formula One Grand Prix in the 1950s and was nicknamed the “Racing Dentist”, has passed away. Tony retired from the sport at the age of just 29 after driving for four teams – BRM, Vanwall, Ferrari, and Cooper. Brooks was the most successful driver of his era after Juan Manuel Fangio, Alberto Ascari, and Moss. His most famous victory was perhaps at the 1957 British Grand Prix at Aintree, a home win he shared with his compatriot Moss.

Brooks made his debut for BRM at the 1956 British Grand Prix before going on to drive for Vanwall in 1957 and 1958. The year after he was picked by Enzo Ferrari, the season he also came agonizingly close to winning the world title, only to lose it by four points to Jack Brabham.

Daily GK Update- 5th May, 2022

 

NATIONAL UPDATES:

 

1. National Intelligence Grid (NATGRID) Bengaluru campus inaugurated by Amit Shah: Home Minister, Amit Shah inaugurates the National Intelligence Grid (NATGRID) campus in Bengaluru. According to Home Minister Amit Shah, the Narendra Modi government has had a zero-tolerance attitude toward terrorism since the beginning. Mr Shah remarked during the inauguration of the National Intelligence Grid (NATGRID) premises in Bengaluru that security requirements have increased dramatically in terms of data, scope, and complexity compared to past issues. According to him, legal and security authorities require automated, secure, and quick access to data gathered from credible sources.

Key Points:

a)      The government has tasked NATGRID with establishing and operating a cutting-edge and innovative information technology infrastructure for obtaining data from data collection agencies.

b)      The Union Government will soon build a national database to track hawala transactions, terrorist funding, counterfeit cash, narcotics, and bomb threats, illicit arms smuggling, and other terrorist operations.

c)       The Home Minister stated that intelligence and legal agencies should now be able to fully utilise information due to the removal of impediments to essential data.

d)      There should be a paradigm shift in the way agencies work thanks to data analytics and information technology.

e)      C-DAC is implementing NATGRID, according to Shah, in keeping with the Prime Minister’s vision of a self-sufficient India.

 

2. IIT Bombay and IMD signed MOU to develop user-friendly weather forecasting app: The Indian Institute of Technology (IIT Bombay) has partnered with the Ministry of Earth Sciences’ India Meteorological Department (IMD) to develop climate solutions for stakeholders at the village, city, and district levels. The partnership will aid the institute in the development of sensors and drone-based smart monitoring systems, climate-smart agriculture technology for water and food security, intelligent and automated early warning systems, climate and health, smart power grid management, wind energy forecasting, and heat wave forecasting.

Key Points:

a)      IIT Bombay is intending to build a Centre of Excellence (CoE) in Climate Services and Solutions within the Interdisciplinary Program in Climate Studies (IDPCS), given the country’s ambitious goal of reaching net zero by 2070.

b)      IIT Bombay has also established the world’s first chair professorship in climate change.

c)       The objective of IIT Bombay is to be a thought leader in Climate Studies and to make a difference via cutting-edge research and industrial partnerships.

 

3. RPF launches Focused effort under “Operation Satark” from 5th April to 30th April: Railway Protection Force (RPF) has recently started “Operation Satark”. Focused effort under “Operation Satark” was launched from 5th April to 30th April 2022 wherein 26 cases of transportation of illegal tobacco products were detected with seizure of tobacco products worth more than Rs 44 Lakhs and arrest of 14 persons involved.

Being aware of its responsibility as the first responder in cases of smuggling through rail, RPF took concerted action in such cases and seized smuggled items worth about Rs. 3.18 Crores during the period mentioned above. For taking action against illicit liquor, fake currency circulation, illegal tobacco products, unaccounted gold or cash orprecious items, and any other items being transported through railway network for the purpose of tax evasion or smuggling or commission of crime or acts of terror.

Note: Railway Protection Force Founded: 27 July 1872; Railway Protection Force Headquarters: New Delhi, India; Railway Protection Force Director-General: Sanjay Chandar.

 

4. ISRO plans mission to Venus by Dec 2024: The Indian Space Research Organisation will send a spacecraft to orbit Venus to study what lies below its surface, the space body’s Chairperson S Somnath announced. ISRO is expecting to launch the mission by December 2024 with an orbital manoeuvre planned for a year after that. The orbital manoeuvre is the use of propulsion systems to change the orbit of a spacecraft. It enables a spacecraft to enter a planet’s orbit.

In 2025, the Earth and Venus would be aligned in a manner that it would require a minimum amount of propellant for the spacecraft to enter the orbit of the hottest planet in the Solar System. A similar window to conduct the mission would next be available in 2031.

Aim of the Mission: The aim of the mission is to study Venus’ atmosphere, which is toxic and corrosive in nature as clouds of sulfuric acid cover the planet. Several countries, including the United States, are also planning to send missions to Venus to try and understand how it became an inferno. Experts have suggested that Venus was once like Earth.

Note: ISRO Founded: 15 August 1969; ISRO Headquarters: Bengaluru; ISRO Chairman: S Somanath.

 

INTERNATIONAL UPDATES:

 

1. FAO’s flagship released its publication “The State of the World’s Forests”: The State of the World’s Forests 2022 explores the significance of three forest pathways for achieving green recovery and addressing environmental crises such as climate change and biodiversity loss, against the backdrop of the Glasgow Leaders’ Declaration on Forests and Land Use and 140 countries’ pledge to end forest loss by 2030 and support restoration and sustainable production and consumption.

Key Points:

a)      Stopping deforestation and sustaining forests, repairing degraded lands and increasing agroforestry, and managing forests responsibly and establishing green value chains are the three interconnected pathways.

b)      Balanced, concurrent pursuit of these paths can provide countries and their rural populations with long-term economic and social benefits, as well as assist in fulfilling growing global demand for materials and managing environmental issues.

c)       The State of the World’s Forests 2022 includes evidence on the paths’ feasibility and value, as well as the first steps that may be made to pursue them further.

d)      There is no time to waste; immediate action is required to keep global warming below 1.5 degrees Celsius, reduce the risk of future pandemics, ensure food security and nutrition for all, eradicate poverty, conserve the planet’s biodiversity, and give young people hope for a better world and a better future.

Note: Headquarters of FAO: Rome, Lazio; Director-General of FAO: Qu Dongyu; Parent organization of FAO: United Nations Economic and Social Council

 

2. World Portuguese language Day: 5th May: The date of 5 May was officially established in 2009 by the Community of Portuguese-speaking Countries (CPLP) – an intergovernmental organization that has been in official partnership with UNESCO since 2000, and which brings together peoples with the Portuguese language as one of the foundations of their specific identity – to celebrate the Portuguese language and Lusophone cultures. In 2019, the 40th session of UNESCO’s General Conference decided to proclaim 5 May of each year as “World Portuguese Language Day”.

 

3. World Hand Hygiene Day: 5th May: World Hand Hygiene Day (WHHD) is annually observed across the globe on the 5th of May to maintain global promotion, visibility, and sustainability of hand hygiene in health care. This year, WHO is marking the day with the theme – Unite for safety: clean your hands, with a focus on encouraging people to clean their hands at the right times with the right products that will help lead to high quality safer care everywhere.

History of the day: WHO launched the “Save Lives: Clean Your Hands” global annual campaign in 2009, which is celebrated as World Hand Hygiene Day on 5th May to further the goal of maintaining a global profile on the importance of hand hygiene in health care.

 

OTHER UPDATES:

 

SPORTS

 

1. Khelo India University Games 2021 won by JAIN University: JAIN (Deemed-to-be University) with 20 gold, 7 silver and 5 bronze medals has won the 2nd edition of the Khelo India University Games 2021. Lovely Professional University (LPU) with 17 golds has placed second and Punjab University placed third with 15 gold medals. Siva Sridhar has emerged as the star swimmer by winning 11 gold. The closing ceremony of KIUG was held at Sri Kanteerava Outdoor Stadium, Bengaluru. Veera was the mascot of KIUG 2021.

A total of 20 games were played and participated by 3900 students from 210 Universities in the second edition of the Khelo India University Games. The Games introduced indigenous sporting competitions such as Yogasana and Mallakhamba for the first time in the history of national sports.

 

2. World Snooker Championship Title 2022 won by Ronnie O’Sullivan: Ronnie O’Sullivan (England) has won the 2022 World Snooker Championship by defeating Judd Trump (England) against 18-13 in the finals, which were held from April 16 to May 2, 2022 at the Crucible Theatre in Sheffield, England. The tournament was organised by the World Snooker Tour and sponsored by sports betting company Betfred. The Total prize money is 2,395,000 Euros and the Winner gets a share of 500,000 Euros.

O’Sullivan (Aged 46) becomes the oldest world champion in Crucible history, eclipsing Ray Reardon, who won his sixth title aged 45 in 1978. It was Ronnie O’Sullivan’s seventh World Snooker Championship title, previously in 2001, 2004, 2008, 2012, 2013 and 2020, equalling Stephen Hendry’s modern-day record of seven world titles (Hendry won all of his in the 1990s).

 

BANKING AND FINANCE

 

1. RBI Monetary Policy: RBI hikes Repo Rate by 40 bps to 4.40 percent: In an unscheduled meeting of the Monetary Policy Committee, the central bank, however, retained the accommodative monetary policy. The sudden RBI move — the first hike after August 2018 — is expected to push up interest rates in the banking system. All six members of the MPC unanimously voted for a rate hike while maintaining the accommodative stance. RBI Governor Shaktikanta Das said the decision was taken in view of rising inflation, geopolitical tensions, high crude oil prices and shortage of commodities globally, which have impacted the Indian economy.

The Reserve Bank of India (RBI) in its Monetary Policy Committee (MPC) meeting held between May 2-4, 2022 has decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points (bps) to 4.40 per cent with immediate effect from 4.00% earlier. RBI has also hiked the cash reserve ratio (CRR) by 50 basis points to 4.50 per cent effective from May 21, 2022.

Consequently, the various rates are as under:

a)      Policy Repo Rate: 4.40%

b)      Standing Deposit Facility (SDF)= 4.15%

c)       Marginal Standing Facility Rate: 4.65%

d)      Bank Rate: 4.65%

e)      CRR: 4.50% (Effective from May 21, 2022.)

f)        SLR: 18.00%

g)      The Government Securities (G-Sec) market reacted negatively to the rate hike. The price of the 10-year benchmark G-Sec crashed about Rs 1.90 intraday, with its yield shooting up by 28 basis points.

Note: RBI 25th Governor: Shaktikanta Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

 

BUSINESS AND ECONOMY

 

1. India ranked 21st in Chainalysis 2021 Cryptocurrency Gains by Country: According to the data released by crypto analytics firm Chainalysis, investors around the world realized total Crypto gains of $162.7 billion in 2021, compared to $32.5 billion in 2020. This is 2nd consecutive data by Chainalysis. Ethereum is the most noteworthy gainer among the crypto assets. The report highlights that Ethereum edged out Bitcoin in total realized gains globally at $76.3 billion to $74.7 billion.

Key Points:

a)      However, India ranked lowly at 21st with realized gains of around $1.85 billion while it is topped by the United States with an estimated realized Crypto gain of $49.95 billion.

b)      The US is followed by the United Kingdom at 2nd with estimated realized Crypto gains of $8.16 billion, Germany ($5.82 billion), Japan ($5.51 billion), and China ($5.06 billion).

 

AWARDS AND HONOURS

 

1. DD National Pet Show ‘Best Friend Forever’ Wins ENBA Award 2021: Doordarshan has won ENBA Award 2021 for the best in-depth Hindi series for its TV series based on pet care ‘Best Friend Forever’ at the 14th edition of the Exchange4media News Broadcasting Awards (ENBA). The show is aired every Sunday at 7 pm and is also available on the YouTube channel of DD National.

About the ‘Best Friend Forever’ show: Best Friend Forever is a half-an-hour weekly live phone-in show on DD National, wherein two pet experts guide people on how to take care of their pets, about their food, nutrition, routine health check-ups, vaccination and other pet-related issues. The objective of the show is to maintain a two-way communication where viewers can directly call and talk to the experts, and share their worries and experiences. From the first day, phone calls started pouring in from across the country. Apart from other age groups, youngsters and kids engage the most with the show.

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.