NATIONAL UPDATES:
1. SC
appointed panel for the recovery of money from NSEL defaulters: The Supreme Court
of India formed a high-level committee, headed by retired Bombay High Court
Judge Pradeep Nandrajog, for recovery of money from the defaulters against whom
the National Spot Exchange (NSEL) has secured money decrees. NSEL has already secured
decrees and arbitration awards of Rs 3,534 crores against the defaulters.
Further, defaulters’ liabilities of Rs 760 crores have already been
crystallised by the committee appointed by the Bombay High Court.
Proceedings for a decree against NK Protein
worth Rs 964 crores is pending before the Bombay High Court. In 2013, investors
and traders in NSEL lost about Rs 5,600 crores after the exchange shut trading
abruptly leading to a series of defaults. Two of the defaulters have already
paid their liabilities worth Rs 196 crores. The claims will be verified by the
Supreme Court-appointed committee. The Supreme Court-appointed committee will
oversee the sale of assets, attached by the Maharashtra government under the
MPID Act and Enforcement Directorate across India.
2.
Prime Minister Modi addresses the JITO Connect 2022 launching session: Prime Minister
Shri Narendra Modi used video conferencing to address the opening session of
the Jain International Trade Organisation’s JITO Connect 2022. In his remarks,
the Prime Minister referred to the spirit of Sabka Prayas in the topic of the
programme, saying that the world is looking at India’s development resolutions
as a method of attaining its objectives. Whether it’s for global peace,
worldwide wealth, solutions to global difficulties, or the development of the
global supply chain, the world looks to India with hope.
About EARTH: The Prime Minister
exhorted everyone in attendance to work for EARTH.
a)
E
stands for environmental prosperity. PM also encouraged them to talk on how
they can help build at least 75 Amrit Sarovars in each district by August 15 of
next year.
b)
A
stands for increasing investment in natural farming, farming technology, and
the food processing sector in order to make agriculture more profitable.
c)
Working
for Reuse, Reduce, and Recycle, the letter R stands for Recycling and the
circular economy.
d)
The
letter T stands for bringing technology to as many people as possible. PM
challenged the audience to examine how other advanced technology, such as drone
technology, may be made more accessible.
e)
H
stands for healthcare, and that the government is now working hard to improve
healthcare and medical colleges in every area across the country.
JITO Connect 2022: The prestigious
JITO Connect 2022 – One of the World’s Largest and Most Desired Global Summits,
a 3-day power packed Summit that is set to take people on a journey to Unravel
the Future and embrace Change, the only constant, is set to take people on a
journey to Unravel the Future and embrace Change, the only constant It will
provide unsaid stories, thoughts, and discoveries that will encourage everyone
to grasp other perspectives and see the big picture.
3.
‘Enterprise India National Coir Conclave 2022’ inaugurated by MSME Minister
Narayan Rane:
The ‘Enterprise India National Coir Conclave 2022’ was inaugurated at
Coimbatore, Tamil Nadu, by Union Minister for MSME Shri Narayan Rane and
Minister of State for MSME Shri Bhanu Pratap Singh Verma, as well as several
State Ministers and top officials. The coir sector employs more than 7 lakh
people in rural parts of coconut-growing states. Even more intriguing, 80
percent of these artists are women, although output has so far been limited to
the country’s southern coconut-producing States/UTs. Key Points:
a)
The
Ministry of MSME plans to expand coir production in other states around the
country, and that the government has taken several measures to popularise the
use of coir for consumer and industrial purposes, particularly as a substitute
for many non-degradable materials.
b)
Coir
industry awards were presented to 44 coir and coir products
manufacturing/exporting entities at this event.
c)
Coir
Board also unveiled new coir products such as a coir composite fruit bowl, a
geo-textile shadow lamp, coir buttons, coir auto mirror covers, a flat
rectangular tray, and a certificate holder, as well as the publication of the
Manual of Coir Technologies, Books on Coir Pith, Geo-textiles, and Coir Floor
Furnishing.
d)
A
‘Run for Coir’ will be held to promote the usage of coir as a natural,
biodegradable, and environmentally beneficial commodity. Thousands of people
are anticipated to attend, including dignitaries, college students, and the
general public.
4.
India logs 6.2 percent increase in death rate as per CRS during 2020: The Civil
Registration System (CRS) report 2020, based on birth and death reports, has
been released by the central government. According to the data, the number of
registered births declined from 2.48 crore in 2019 to 2.42 crore in 2020,
representing a 2.40 percent decrease. According to the Vital Statistics of
India based on the Civil Registration System’s report for 2020, the number of
registered deaths increased by 6.2 percent from 76.4 lakh in 2019 to 81.2 lakh
in 2020.
Key Points:
a)
Males
account for 60.2 percent of all registered deaths, while females account for
39.8 percent.
b)
Maharashtra,
Bihar, Gujarat, West Bengal, Andhra Pradesh, Tamil Nadu, Karnataka, Madhya
Pradesh, Rajasthan, Assam, and Haryana are among the states and union
territories that have contributed considerably to the increase in deaths from
2019 to 2020.
c)
The
number of births and deaths included in the study are factual figures collected
from roughly 3 lakh registration units across the country, according to NITI
Aayog Member (Health) Dr. V K Paul.
d)
CRS
is a system for recording births, deaths, and stillbirths that is universal,
continuous, mandatory, and permanent.
e)
COVID-19
and other causes of death are included in these numbers.
INTERNATIONAL UPDATES:
1.
Nepal’s Kami Rita Sherpa climbs Mount Everest for 26th time: Nepal’s legendary
climber Kami Rita Sherpa has climbed Mt Everest, the tallest peak in the world
for the 26th time to set a new world record. Leading an 11-member rope fixing
team, Kami Rita & his team reached the summit, breaking his own previous
world record. The climbing route used by Kami Rita was pioneered by New
Zealander Sir Edmund Hillary and Nepal’s sherpa Tenzing Norgay in 1953 and
remains the most popular.
Everest has been climbed 10,657 times since
it was first scaled in 1953 from Nepali and Tibetan sides – many have climbed
multiple times, and 311 people have died so far, according to the Himalayan
Database. The 52-year-old followed in his father’s footsteps and became a
mountain guide, first summiting the peak in 1994. He has climbed Everest almost
every year since.
2.
Time of Remembrance and Reconciliation for Those Who Lost Their Lives during
the Second World War:
8th-9th May: Every year during May
8-9, the United Nations marks the Time of Remembrance and reconciliation for
those who lost their lives during the Second World War. The day pays tribute to
all the victims of the Second World War. This year is the 77th Anniversary of
World War II.
On 2 March 2010, by resolution 64/257, the
General Assembly invited all Member States, organizations of the United Nations
system, non-governmental organizations and individuals to observe 8-9 May in an
appropriate manner to pay tribute to all victims of the Second World War. A
special solemn meeting of the General Assembly in commemoration of all victims
of the war was held in the second week of May 2010, marking the sixty-fifth
anniversary of the end of the Second World War.
OTHER UPDATES:
SPORTS
1.
Indian Grandmaster D Gukesh wins Sunway Formentera Open chess tournament: Indian Grandmaster
D Gukesh has emerged as champion in the 1st Chessable Sunway Formentera Open
2022 chess tournament in Punta Prima. It was a hat-trick of titles for him
after he had previously won the La Roda tournament and the Menorca Open in
recent weeks. The 15-year old Gukesh (Elo 2637) settled for a draw with
Armenian GM Haik M Martirosyan in the final round to win the title with eight
points. He had defeated compatriot and second-seed K Sasikiran in the ninth and
penultimate round. He has now moved up to no.64 in the world rankings.
BANKING AND FINANCE
1.
Indian Bank Launched Digital Broking Solution ‘E-Broking’: Indian Bank, a
public sector bank, has introduced its digital broking solution – ‘E- Broking’,
as a strategic move toward comprehensive digitalisation of its customer
products. E-Broking, an instant and paperless demat & trading account
opening service, is now available through the bank’s mobile banking app,
IndOASIS. The product was introduced in collaboration with Fisdom, the bank’s
financial technology partner. Highlights:
a)
The
E-Broking initiative will assist the bank in increasing its CASA (Current
Account Savings Account).
b)
This
initiative also enables the customers to invest in the ongoing Life Insurance
Corporation of India (LIC) Initial Public Offering (IPO) effectively.
c)
IndOASIS,
the bank’s mobile banking app, would provide users with a unified experience
ranging from Demat and trading account opening to reduced broking services
backed by research-based investment in the secondary market, starting with
equity, futures, options, and initial public offerings on a single platform.
Note: Indian Bank MD & CEO: Shanti Lal
Jain; Indian Bank Establishment: August 15, 1907; Indian Bank Headquarters:
Chennai, Tamil Nadu; Indian Bank Tagline: Taking Banking Technology To The
Common Man.
BUSINESS AND ECONOMY
1.
Adani Wilmar became India’s largest FMCG company surpassing HUL: Adani Wilmar
Limited became the largest Fast Moving Consumer Goods Company (FMCG) in India
beating Hindustan Unilever Limited (HUL), after the announcement of its Quarter
Four results for the financial year 2022 (Q4FY2022). AWL has reported total
operating revenue of Rs 54,214 crore in the Financial Year 2022 whereas HUL
reported a revenue of Rs 51,468 crore in the Financial Year (FY) 2021-22. In
Q4FY22 (January-March 2022), the AWL has seen a 40 per cent jump in revenue
from operations to Rs 14,960 despite a 26 per cent i.e., Rs 234.29 crore hit in
net profit in the same period.
Note: Adani Group Founded: 1988; Adani
Group Headquarters: Ahmedabad, Gujarat; Adani Group Chairman: Gautam Adani;
Adani Group Managing Director: Rajesh Adani.
2.
Mindtree, L&T Infotech announce merger to create India’s 5th largest IT
services:
L&T Infotech and Mindtree, the two independently listed IT services
companies under Larsen & Toubro Group announced a merger that would create
India’s fifth-largest IT services provider. The combined entity will be known
as “LTIMindtree”.
The Boards of Directors of Mindtree and
L&T Infotech (LTI) at their respective meetings held on Friday approved a
composite scheme of amalgamation of both these independently listed IT services
companies under the Larsen & Toubro Group. The proposed integration will
see Mindtree and LTI join strengths to create an efficient and scaled up IT
services provider exceeding USD 3.5 billion. These opportunities will create a
more distinctive employee value proposition and stronger partnerships with
ecosystem players.
Note: Larsen & Toubro Infotech Limited
Founded: 23 December 1996; Larsen & Toubro Infotech Limited Headquarters:
Mumbai; Larsen & Toubro Infotech Limited CEO: Sanjay Jalona.
DEFENCE
1.
Indian Navy’s P-8i Fleet host to Boeing and Air Works collaboration: Air Works, an
Indian maintenance, repair, and overhaul (MRO) company, is partnering with the
Boeing Company to conduct heavy maintenance checks on three Indian Navy P-8I
long-range maritime patrol aircraft at Air Works, Hosur, demonstrating the
success of the government’s Atmanirbhar Bharat (self-reliant India) campaign.
This significantly expands the scope and
size of MRO in India, demonstrating both firms’ commitment to helping India
achieve Aatmanirbhar status in aerospace and defence. The partnership between
Boeing and Air Works has resulted in quicker turnaround times and increased
operating capability for important defence platforms in India. The relationship
began with checks on the P-8I Poseidon aircraft and has since expanded to
include checks and MRO on the Indian Air Force’s Boeing 737 VVIP aircraft’s
landing gear.
Air Works Group: Air Works is a
global leader in varied aviation services with operations on four continents.
Air Works was founded in 1951 and serves the commercial and business aviation
communities with engineering, asset management, safety, and technology
solutions. They are worldwide aircraft leasing firms and airlines’ service
providers, first-line service providers to leading OEMs, one of only seven
IATA-certified safety auditors, the global market leader for charter safety
ratings, and India’s largest independent MRO provider.
The Boeing Company: The Boeing Company
is a multinational American firm that designs, manufactures, and sells planes,
rotor-craft, rockets, satellites, telecommunications equipment, and missiles
all over the world. Leasing and product support are also provided by the corporation.
Boeing is one of the world’s largest aerospace manufacturers, as well as the
world’s third-largest defence contractor by 2020 revenue and the US’s largest
exporter by dollar value.
DEFENCE UNICORN INSTITUTE – GANDHINAGAR |
AHMEDABAD BEST COACHING FOR:
