Daily GK Update- 18th May, 2022

 

NATIONAL UPDATES:

 

1. Indian Government Prohibited the Wheat Export with Immediate Effect: Indian Government has prohibited wheat exports, claiming a threat to food security, partially owing to the conflict in Ukraine and as a blistering heatwave reduced supply and pushed local prices to new highs. Despite not being one of the world’s top wheat exporters, India’s prohibition might drive global prices to new highs, putting a strain on impoverished customers in Asia and Africa. The prohibition would not last indefinitely and might be changed, authorities said during a press briefing. About the Wheat Export:

a)      Wheat prices in India have reached a record high, with certain spot markets seeing prices as high as 25,000 rupees ($320) per tonne, significantly above the government’s minimum support price of 20,150 rupees ($260).

b)      In April, rising food and energy costs brought annual retail inflation in India to an eight-year high.

c)       The wheat harvest in India has also been hampered by a world-record-breaking heat wave. Apart from poor harvests, India’s large wheat supplies — a bulwark against hunger – have been depleted by the supply of free grain to 800 million people during the COVID-19 outbreak.

d)      India’s move comes at a time when global agriculture markets are reeling from Russia’s invasion of Ukraine.

e)      Ukraine, a renowned global breadbasket, has seen supplies hindered, prompting the Ukrainian agricultural minister to come to Stuttgart to meet with G7 contemporaries about getting the country’s produce out. Ukraine exported 4.5 million tonnes of agricultural products every month before the Russian invasion, accounting for 13% of the world’s wheat, 15% of its corn, and half of its sunflower oil.

Reason behind India’s wheat export restriction: The Rising food and energy costs have increased India’s annual retail inflation rate to 7.79% in April, a new high. Wheat prices in India have reached new highs as a result of growing inflation, with certain spot markets reaching 25,000 rupees per tonne, much over the government’s minimum support price of 20,150 rupees.

 

2. At CFSL in Hyderabad, Amit Shah inaugurates the National Cyber Forensic Laboratory: Home Minister Amit Shah launched the National Cyber Forensic Laboratory’ (NCFL) on the premises of the Central Forensic Science Laboratory (CFSL) in Hyderabad. The NCFL plans to expedite the resolution of cybercrime cases in the country. The Ministry of Home Affairs (MHA) approved the establishment of the NCFL for evidentiary purposes in the CFSL, Hyderabad, in December 2021. In a written response, Ajay Kumar Mishra stated that the ministry has approved the establishment of an NCFL for evidential reasons at the CFSL in Hyderabad. The unit’s ability to solve cybercrime cases in a comprehensive and coordinated manner will be enhanced further. According to current information, 28 states and union territories have established cyber forensic cum training laboratories.

Note: Minster of Home Affairs: Amit Shah; Minister of State in Ministry of Home affairs: Ajay Kumar Mishra

 

3. National Data and Analytics Platform launched by NITI Aayog: The National Data & Analytics Platform (NDAP) was launched by NITI Aayog for free public use. By making data accessible, interoperable, interactive, and available on a user-friendly platform, the platform intends to democratise access to public government data. It houses basic datasets from a variety of government departments, organises them, and provides analytics and visualisation capabilities. This public debut comes after the platform’s beta release in August 2021, which gave a small number of users access for testing and feedback.

To ensure that the datasets hosted on the platform are adapted to the needs of data users from government, academia, journalism, civil society, and the corporate sector, NDAP uses a use-case methodology. All datasets are standardised to the same schema, making it simple to combine them and do cross-sectoral analysis.

 

4. Ramgarh Vishdhari notified as India’s 52nd tiger reserve: Minister for Environment, Forest and Climate Change, Bhupender Yadav has announced that Ramgarh Vishdhari Tiger Reserve in Rajasthan has been notified as Rajasthan’s 4th and the 52nd tiger reserve of India. It will help to conserve biodiversity and bring ecotourism and development to the area. The National Tiger Conservation Authority (NTCA) had given in-principle approval to make Ramgarh Vishdhari Wildlife Sanctuary and adjoining areas as tiger reserves on July 5 last year.

Wild animals like Indian wolf, leopard, striped hyena, sloth bear, golden jackal, chinkara, nilgai and fox can be seen in the Ramgarh Vishdhari Tiger Reserve. According to the “Status of Tigers in India” report released in 2019, there are 2,967 tigers in 20 states across the country.

Other Three Tiger Reserves:

Ranthambore Tiger Reserve (RTR) in Sawai Madhopur

Sariska Tiger Reserve (STR) in Alwar

Mukundra Hills Tiger Reserve (MHTR) in Kota.

 

INTERNATIONAL UPDATES:

 

1. Prime Minister Narendra Modi attended the Shilanyas ceremony: On the invitation of Nepal’s Prime Minister, Shri Sher Bahadur Deuba, Prime Minister Shri Narendra Modi conducted an official visit to Lumbini, Nepal, coinciding with the auspicious event of Vaishakha Buddha Purnima. This was Shri Narendra Modi’s fifth visit to Nepal as Prime Minister, and his first to Lumbini. Key Points:

a)      Both Prime Ministers paid a visit to the Mayadevi temple, which houses Lord Buddha’s birthplace. The Prime Ministers paid donations and attended Buddhist ceremonies and prayers at the temple.

b)      The Prime Ministers lighted lamps and paid a visit to the Ashoka Pillar, which contains the first epigraphic proof of Lumbini being the birthplace of Lord Buddha. They also watered the holy Bodhi tree that Prime Minister Modi presented to Nepal during his 2014 visit.

c)       Prime Minister Shri Narendra Modi and Prime Minister Shri Sher Bahadur Deuba both attended the event “Shilanyas” ceremony for the construction of the India International Centre for Buddhist Culture and Heritage on an International Buddhist Confederation site in Lumbini (IBC).

d)      The Lumbini Development Trust gave the property to the IBC in November 2021. The Prime Ministers also unveiled a model of the Buddhist centre, which is planned as a Net-Zero compliant world-class facility with prayer halls, meditation centres, libraries, exhibition halls, cafeterias, and other amenities open to Buddhist pilgrims and tourists from around the world. It will be the first building in Nepal to attain Net Zero Emission with Radiant Cooling technology and water bodies, with a built-up area of 6300 square metres. The project is estimated to cost Rs 9846.46 lakhs.

 

2. British Mountaineer Kenton Cool becomes first foreigner to scale Everest 16 times: A British climber Kenton Cool has scaled the world’s highest mountain for the 16th time becoming the first foreign climber to make the most Mt Everest summits. Kenton also holds a record of the first British mountaineer who climbed Mt Nuptse, Mt Everest and Mt Lhotse in a season in 2013. Last year, Kenton had made it to the top of Mt Lhotse in less than 29 hours after scaling the world’s highest peak. Previously, American climber Dave Hahn has climbed Mt Everest 15 times.

 

3. International Museum Day: 18th May: International Museum Day (IMD) is celebrated every year on 18 May. This day is observed to highlight the importance of museums in any culture. Museums are an important means of cultural exchange, enrichment of cultures and development of mutual understanding, cooperation and peace among peoples. This year, the theme for International Museum Day is ‘The Power of Museums’. As per ICOM’s website, the theme focuses on exploring the power of museums to achieve sustainability, to innovate on digitalisation and accessibility, and the power of community building through education.

International Museum Day History: The idea of having an International Museum Day first surfaced during a meeting called ‘Crusade for Museums,’ organised by ICOM in 1951. However, the resolution for International Museum Day was adopted during ICOM General Assembly in Moscow, in 1977. On this day since 1997, every year all the museums of the world are invited to participate and promote the role of museums in the world by organizing several activities that are focused on the theme.

 

4. World AIDS Vaccine Day Or HIV Vaccine Awareness Day: 18th May: World AIDS Vaccine Day is also known as HIV Vaccine Awareness Day (HVAD) is annually observed across the globe on the 18th of May to create awareness and provide information about Acquired Immuno Deficiency Syndrome (AIDS), a chronic, potentially life-threatening condition caused by the Human Immunodeficiency Virus (HIV) and its immunisation.

History of the day: World AIDS Vaccine Day was conceptualised by the speech of former United States President Bill Clinton on 18th May 1997, at the Morgan State University, Maryland, the United States of America (USA). The first-ever World AIDS Vaccine Day or HIV Vaccine Awareness Day was observed on 18th May 1998, as a commemoration of U.S. President Bill Clinton’s 1997 declaration.

 

OTHER UPDATES:

 

SPORTS

 

1. Highlights of the 2021 Summer Deaflympics: The 24th edition of 2021 Summer Deaflympics i.e. Caxias 2021, officially called the XXIV Summer Deaflympic Games, was an international multi-sport event held at Festa da Uva, Caxias do Sul, Brazil. The International Committee of Sports for the Deaf (ICSD) is the main governing body responsible for the organisation of the Deaflympics and other World Deaf Championships. The Motto of the event is “Sports comes from the our hearts”. The mascot of the Deaflympics is the Ring-tailed Coati – Nino, meaning priceless, worthy of appreciation, cheerful, happy, very lucky, and auspicious. A total number of 226 events across 18 sports were held with a participation of 2,349 athletes representing 71 nations.

 

Total Medal Tally:

Rank	Country	Total
1	Ukraine	138 (Gold- 62, Silver- 38, Bronze- 38)
2	USA	55 (Gold- 20, Silver- 11, Bronze- 24)
3	Iran	40 (Gold- 14, Silver- 12, Bronze-14)
9	India	17 (Gold- 8, Silver- 1, Bronze- 8)

 

Medals Won by India:

 

Athlete	Event	Medal
Dhanush Srikanth	Men’s 10m air rifle	Gold
Abhinav Deshwal	Men’s 10m air pistol	Gold
Dhanush Srikanth & Priyesha Deshmukh	Mixed team 10m air rifle	Gold
Badminton Team	Mixed team badminton	Gold
Jerlin Jayaratchagan	Women’s singles badminton	Gold
Diksha Dagar	Women’s golf	Gold
Jerlin Jayaratchagan & Abhinav Sharma	Mixed doubles badminton	Gold
Sumit Dahiya	Men’s freestyle 97kg	Gold
Prithvi Sekhar & Dhananjay Dubey	Men’s doubles tennis	Silver
Shourya Saini	Men’s 10m air rifle	Bronze
Vedika Sharma Women’s	10m air pistol	Bronze
Abhinav Sharma	Men’s singles badminton	Bronze
Prithvi Sekhar	Men’s singles tennis	Bronze
Prithvi Sekhar & Jafreen Shaik	Mixed doubles tennis	Bronze
Virender Singh	Men’s freestyle 74kg	Bronze
Amit Krishan	Men’s freestyle 86kg	Bronze

 

BANKING AND FINANCE

 

1. Sitikantha Pattanaik and Rajiv Ranjan, named executive directors by the RBI: Rajiv Ranjan and Sitikantha Pattanaik have been named executive directors by the Reserve Bank of India (RBI). Rajiv Ranjan was Adviser-in-Charge of the Monetary Policy Department and Secretary to the Monetary Policy Committee before being appointed to executive director. Pattanaik was an adviser at the Department of Economic and Policy Research before being appointed to ED. Rajiv Ranjan will oversee the Monetary Policy Department as Executive Director, while Pattanaik will oversee the Department of Economic and Policy Research (DEPR).

 

BUSINESS AND ECONOMY

 

1. Adani Group to buy Ambuja Cements, ACC for $10.5 bn: Adani Group which belongs to Gautam Adani is set to acquire swiss multinational company Holcim’s stake in Indian companies Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The value for the Holcim stake and open offer consideration makes this the largest ever acquisition by Adani and India’s largest-ever Mergers and Acquisitions (M&A) transaction in the infrastructure and materials space. “Our move into the cement business is yet another validation of our belief in our nation’s growth story

Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements). Deutsche Bank, BarCap and Standard Chartered were financiers to the deal. Deutsche Bank was the financial adviser to Adani Group.

 

2. India overtakes Germany to become 4th largest vehicle market: According to the report released by Organisation Internationale des Constructeurs d’Automobiles (OICA), India has surpassed Germany to become 4th largest vehicle market in the world. The 1st was occupied by China, followed by the US and Japan. Despite the Covid-19 pandemic, India sold 3,759,398 vehicles in 2021 as compared to 2,973,319 vehicles in Germany. This is almost 26 per cent of growth and the only country to register double-digit growth among the top 5 countries.

Key points of the report:

a)      India is expected to become the third-largest Vehicle market by 2025, However, it requires India to surpass Japan which sold 4,448,340 units in 2021.

b)      The personal mobility space is around 33 vehicles per 1,000 which is one of the lowest compared to the developed market.

c)       The topmost position is secured by China however the automobile sales remained stagnant. Similarly, the United States of America (USA) too reported 4 per cent growth. Thirdly, Japan holds the 3rd position however it shrunk compared to both 2020 and 2019.

 

AWARDS AND HONOURS

 

1. Cameroonian activist wins Wangari Maathai Forest Champions’ Award 2022: Cameroon Activist, Cécile Ndjebet has won the 2022 Wangari Maathai Forest Champions Award in recognition of her outstanding contribution to preserving forests and improving the lives of people who depend on them. This award celebrates Cécile Ndjebet’s energy and dedication over three decades to promoting women’s rights to land and forests. She has actively shown that women’s participation in forest governance and preservation is fundamental to achieving sustainable forest management.

About the Award: The award was presented by the Collaborative Partnership on Forests (CPF), which is chaired by the Food and Agriculture Organization of the United Nations (FAO), the award was conferred at a ceremony during the XV World Forestry Congress in Seoul, the Republic of Korea.

Daily GK Update- 17th May, 2022

 

NATIONAL UPDATES:

 

1. Prime Minister attended the 2nd Global COVID-19 Virtual Summit: Prime Minister Narendra Modi called for a reform of the UN health authority and a review of its vaccine approval processes a week after the government challenged the WHO’s numbers for mortality during the Covid outbreak.

Mr. Modi also called for the World Trade Organization to be more flexible on the issue of patent waivers, where a joint India-South Africa proposal made in 2020 has yet to be adopted, speaking at the second global Covid summit, which was virtually addressed by US President Joseph Biden and a number of other leaders including from the African Union, European Union, Canada, Germany, South Africa, Japan, and South Korea.

Key Points:

a)      Taiwan was invited to the meeting by the US and other hosts, but China and Russia declined.

b)      In the years 2020 and 2021, the WHO predicted 4.7 million fatalities in India, directly or indirectly due to Covid-19, over 10 times what the government estimates, making India’s death toll the largest in the world.

c)       More than 30 countries attended the conference, which was co-hosted by the United States, Belize, Germany, Indonesia, and Senegal.

d)      According to a press statement from the US government, the 2nd global covid summit resulted in more than $3 billion in additional financial pledges from participation, multilateral and charitable organisations, on top of promises made in 2021 and 2022.

Note: WHO Director General: Tedros Ghebreyesus

 

2. Manik Saha named as new chief minister of Tripura: Rajya Sabha MP and BJP state president Manik Saha is all set to take over as the new Chief Minister of Tripura. Manik Saha, the BJP State unit president and lone Rajya Sabha MP from Tripura, was elected as legislature party leader at a meeting held at the Chief Minister’s official residence. The decision was taken at a legislature party meeting following the resignation of CM Biplab Kumar Deb.

Tripura Chief Minister Biplab Kumar Deb has stepped down from his position after meeting Bharatiya Janata Party (BJP) president J.P. Nadda and Union Home Minister Amit Shah during a two-day trip to New Delhi. Mr. Deb made the announcement after submitting his resignation to Governor S.N. Arya at the Raj Bhavan in Agartala. The State is slated to go to Assembly elections in 2023.

Note: Tripura Capital: Agartala; Tripura Chief Minister: Biplab Kumar Deb; Tripura Governor: Satyadeo Narain Arya.

 

3. Sanjiv Bajaj appointed as President of Confederation of Indian Industry: Chairman of Bajaj Finserv Limited, Sanjiv Bajaj has assumed the office of Confederation of Indian Industry (CII) President for the year 2022-23 after replacing the CEO of Tata Steel, TV Narendran. The newly constituted National Council of Confederation of Indian Industry (CII) at a meeting elected its new office-bearers for the year 2022-23.

Other Appointments: The Chairman and CEO of Hero MotoCorp Limited, Pawan Munjal has taken over as CII President-Designate for 2022-23. Executive Vice Chairman of TVS Supply Chain Solutions, R Dinesh has been appointed as a Vice President of CII.

Note: Confederation of Indian Industry Founded: 1895; Confederation of Indian Industry Headquarters: New Delhi, India; Confederation of Indian Industry Director-General: Chandrajit Banerjee; Confederation of Indian Industry Motto: Charting Change Enabling Development.

 

4. Nidhi Chibber named as CBSE new chief: Senior IAS officer, Nidhi Chibber has been appointed as the chairperson of the Central Board of Secondary Education (CBSE) in a top-level bureaucratic reshuffle effected by the Centre. Chibber, a 1994 batch Indian Administrative Service officer of Chhattisgarh cadre, is currently Additional Secretary, Ministry of Heavy Industries. She has been appointed as chairperson of the CBSE in the rank and pay of Additional Secretary to the government of India, an order issued by the Personnel Ministry.

About the CBSE: The Central Board of Secondary Education (CBSE) is a national level board of education in India for public and private schools, controlled and managed by the Government of India. Established in 1929 by a resolution of the government, the Board was indeed a bold experiment toward inter-state integration and cooperation in the sphere of secondary education. There are approximately 26,054 schools in India and 240 schools in 28 foreign countries affiliated to the CBSE.

 

INTERNATIONAL UPDATES:

 

1. COP15 Session on combating desertification: Bhupender Yadav led the Indian delegation: The Indian team, led by Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav, arrived in Abidjan, Cote D Ivoire, for the UN Convention on Combating Desertification’s 15th Conference of Parties (UNCCD COP15). The fourteenth session of the Conference of Parties to the United Nations Convention to Combat Desertification was held in New Delhi, and India is the current president of the organisation. Key Points:

a)      Despite the covid outbreak, India made major contributions to bringing nations together to achieve the global aim of preventing and reversing land degradation during its presidency.

b)      During India’s presidency, G-20 leaders, recognising the importance of countering land degradation and developing new carbon sinks, set an aspirational goal of planting 1 trillion trees collectively by 2030, urging other countries to join forces with the G20 to achieve this global goal.

c)       The fifteenth session of the Conference of the Parties (COP15) of the United Nations Convention to Combat Desertification (UNCCD), which will take place in Abidjan, Côte d’Ivoire, will bring together leaders from governments, the private sector, civil society, and other key stakeholders from around the world to drive progress in future sustainable land management and to explore links between land and other key sustainability issues.

d)      These problems will be considered at the high-level phase and will include a Heads of States Summit, high-level roundtables and interactive dialogue sessions, as well as a variety of additional special and side activities. ​

e)      Drought, land restoration, and associated enablers including land rights, gender equality, and youth empowerment are among the conference’s major priorities. COP15 is expected to galvanise sustainable solutions for land restoration and drought resilience through resolutions made by the UNCCD’s 197 Parties, with a significant focus on future-proofing land usage.

Note: Union Minister for Environment, Forest and Climate Change: Shri Bhupender Yadav

 

2. Forbes’ Global 2000 list of public companies worldwide 2022 announced: Forbes’ Global 2000 list of public companies worldwide 2022 announced. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value. Billionaire Mukesh Ambani’s Reliance Industries Ltd climbed two spots to No. 53 on Forbes’ Global 2000 list of public companies worldwide 2022. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.

Globally: Berkshire Hathaway took the No. 1 spot for the first time since Forbes started publishing the Global 2000 in 2003, dethroning the Industrial and Commercial Bank of China, which dropped to No. 2 after nine consecutive years at the top of the list. Saudi Arabian Oil Company (Saudi Aramco) took the 3 Spot.

Other top 10 Indian firms on the list include state-owned Oil and Natural Gas Corporation (ONGC) at 228 ranks, Housing Development Finance Corporation Ltd (HDFC) at No. 268, Indian Oil Corporation (IOC) at No. 357, Tata Consultancy Services Ltd (TCS) at No. 384, Tata Steel at No. 407 and Axis Bank at No. 431.

 

3. World Telecommunication and Information Society Day: 17th May: The World Telecommunication and Information Society Day (WTISD) is observed each year on 17th May to increase awareness of the benefits and opportunities that the Internet and other information and communication technologies (ICT) provide to nations, societies, and economies. It also hopes to raise awareness about how to close the digital divide. Digital technologies for older persons and healthy ageing is the theme for World Telecommunication and Information Society Day this year.

History: The World Telecommunication Day was established in 1969 to commemorate the founding of the International Telecommunication Union on May 17, 1865. The World Summit on the Information Society, however, recommended the United Nations General Assembly to establish May 17 as World Information Society Day in 2005. The UN General Assembly decided in March 2006 that WISD would be held every year on May 17th. In 2006, the ITU decided to combine the two holidays and name it World Telecommunication and Information Society Day at a Plenipotentiary Conference in Antalya, Turkey.

 

4. World Hypertension Day: 17th May: World Hypertension Day is observed every year on 17th May, to raise awareness and encourage hypertension prevention, detection, and treatment. The major risk factor for cardiovascular disease is high blood pressure and hypertension is known as the “Silent Killer”. The force produced by flowing blood on the walls of the body’s arteries, or main blood vessels, is known as blood pressure. When blood pressure is excessively high, it is called hypertension. Blood pressure is measured as a two-digit figure. When the heart contracts or beats, the first number (systolic) shows the pressure in blood vessels. The second number (diastolic) indicates the pressure in the arteries while the heart is at rest between beats.

History: The World Hypertension League (WHL), which is an umbrella organisation for 85 national hypertension societies and leagues, has recognised and inaugurated World Hypertension Day (WHD). The goal of the day was to raise hypertension awareness.

On May 14, 2005, the WHL debuted their inaugural WHD. Since 2006, the WHL has designated May 17 as World Hypertension Day.

 

OTHER UPDATES:

 

SPORTS

 

1. Thomas Cup Title: India beats Indonesia 3-0: India’s men’s badminton team wins the Thomas Cup title for the first time ever with a stunning 3-0 win over powerhouse Indonesia in the final. India took on 14-time winners Indonesia in the final of the Thomas Cup in Bangkok, Thailand and lifted the title defeating the defending champions by 3-0. India dished out a performance for the ages with World Championships medallist Lakshya Sen, Kidambi Srikanth and the world number 8 doubles duo of Chirag Shetty and Satwiksairaj Rankireddy producing memorable performances.

Key points of the Thomas Cup title:

a)      India was off to a perfect start as Lakshya Sen defeated Anthony Ginting by 8-21, 21-17, 21-16 in a thrilling tie.

b)      India’s doubles pair Satwik and Chirag defeated Ahsan-Sukamuljo 18-21, 23-21, 21-19, the most sensational victory of their career, to give India a 2-0 lead.

c)       In the third game, Kidambi Srikanth defeated Jonatan Christie 21-15, 23-21 to make it 3-0. They have done it without losing a match in the final.

 

BANKING AND FINANCE

 

1. RBI imposed Rs 59 lakh penalty on KEB Hana Bank: Reserve Bank of India has imposed a penalty of Rs 59 lakh on the Korean bank, KEB Hana Bank for non-compliance with the certain norms related to ‘interest rate on deposits. The Korean bank has been penalised for non-compliance with the directions issued by RBI on ”Reserve Bank of India (Interest Rate on Deposits) Directions, 2016”.

The statutory inspection for supervisory evaluation of KEB Hana Bank was conducted by RBI with reference to its financial position as on March 31, 2020. RBI, however, said the penalty is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

 

AWARDS AND HONOURS

 

1. Kenyan nurse Anna Qabale Duba crowned world’s best nurse: Anna Qabale Duba, a Kenyan nurse stationed at the Marsabit County Referral Hospital, won the inaugural Aster Guardian Global Nursing Award for endorsing education and campaigning against outdated cultural practices like Female Genital Mutilation (FGM) in her community. Duba, who took home USD 250,000 (approx. Ksh.29 million) in prize money, was feted by Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum at an award ceremony held in Dubai, which commemorated the International Nurses Day.

While receiving the award, Duba, the only female graduate in her village, revealed that she, through her Qabale Duba Foundation, had built a school in Marsabit which offers classes to young pupils and adults looking to get a decent education during the day and evening respectively.

Note: Kenya Capital: Nairobi; Kenya Currency: Shilling; Kenya President: Uhuru Kenyatta.

 

OBITUARIES

 

1. Former Australia Cricketer Andrew Symonds Dies In Car Accident: Former Australian all-rounder Andrew Symonds has been killed in a car crash. The 46-year-old, who played 26 Tests and 198 one-day internationals for Australia from 1998 to 2009, was involved in a single-car accident outside Townsville in Queensland state. Symonds was also a top-rate fielder and was a key part of Australia’s back-to-back 50-over World Cups triumphs in 2003 and 2007.

Domestically, he played for Queensland for 17 seasons, while appearing for Gloucestershire, Kent, Lancashire and Surrey in the English County Championship and for Deccan Chargers and Mumbai Indians in the Indian Premier League. Symonds, who was born in England with one parent of Afro-Caribbean descent, will also be remembered for the infamous “monkeygate” scandal that sent him into a downward spiral. He accused India spinner Harbhajan Singh of calling him a “monkey” in Sydney’s 2008 New Year Test.

Daily GK Update- 16th May, 2022

 

NATIONAL UPDATES:

 

1. India Contributes USD 800,000 To Promote the Hindi Language At UN: The government of India has contributed USD 800,000 to the United Nations (UN) as part of the initiative which aims to enhance public outreach of the organisation in Hindi. R Ravindra, India’s Deputy Permanent Representative to the United Nations, handed over a cheque for the ‘Hindi @ UN’ project to Mita Hosali, Deputy Director and Officer-In-Charge (News and Media Division), UN Department of Global Communications (DGC).

About the ‘Hindi @ UN’ project: The project was launched by India in 2018 in collaboration with the UN Department of Public Information to disseminate information about the UN to the Hindi-speaking population across the world. Since 2018, India has been partnering with the UN DGC by providing an extra-budgetary contribution to mainstream news and multimedia content of DGC in Hindi.

 

2. Madhya Pradesh Startup Policy launched by Prime Minister Modi: Prime Minister Narendra Modi announced the Madhya Pradesh Startup Policy and spoke to the startup community via video conferencing at the Madhya Pradesh Startup Conclave in Indore. The Prime Minister also unveiled the Madhya Pradesh Startup Portal, which would ease and promote the startup environment in the state. The event was attended by Chief Minister Shivraj Singh Chouhan, as well as key officials and entrepreneurs. According to the official, Madhya Pradesh has 1,937 start-ups recognised by the Union government, with women running 45 percent of them.

Various pillars of the startup ecosystem represented at the Madhya Pradesh Startup Conclave, including government and private sector policymakers, innovators, entrepreneurs, academicians, investors, mentors, and other stakeholders.

Note: Chief Minister of Madhya Pardesh: Shivraj Singh Chouhan

 

3. In Manipur, the Indian Army will open a coaching center for poor pupils: The Indian Army has started providing residential tutoring to children from economically disadvantaged and deprived areas of the northeast to prepare them for all-India competitive tests such as engineering and medical admission.

The Indian Army’s Red Shield Division has inked a tripartite Memorandum of understanding with enterprise partner State Bank of India Foundation and mentoring partner National Integrity and Educational Development Organization to develop the Red Shield Centre for Excellence and Wellness, according to Lt Col Mohit Vaishnava, a spokesman for the Indian Army’s Red Shield Division.

The centre will be in the Manipur’s Bishnupur district.According to Lt Col Vaishnava, the scheme should be completely operational for the first batch of 50 students by the first week of July. The MoU signing ceremony was attended by Manipur Governor La Ganesan, GOC Red Shield Division Maj Gen Navin Sachdeva, and others.

 

4. State of Chhattisgarh to reinstate an old pension scheme: In his Budget statement, Chhattisgarh Chief Minister Bhupesh Baghel announced the government’s plan to revert to the old pension scheme (OPS) for state employees and quadruple the monthly MLA local area development money. He carried the Budget papers in a cow dung powder briefcase.

Key Points:

a)      Over three lakh individuals who started work after January 1, 2004 will profit from the change. It will not, however, apply to members of the All India Services, such as the Indian Administrative Service and the Indian Police Service.

b)      The fundamental distinction between the two pension systems is that, while an employee must make a voluntary contribution to their pension by deducting 10% of their basic income and dearness allowance, there is no such deduction under OPS.

c)       The Chief Minister proposes in this Budget to restore the former pension programme for government employees.

d)      The Chhattisgarh Rojgaar Mission will be given a sum of 2 crore to work on the prospects of creating new jobs through coordinating skill development programmes.

 

5. Ravinder Singh Dhillon appointed CMD of REC Ltd: REC Limited, (formerly Rural Electrification Corporation Limited) a Navratna company under the administrative control of the Ministry of Power, announced it has named Ravinder Singh Dhillon as Chairman and Managing Director of the company, with effect from May 10, 2022. He is serving as the CMD of Power Finance Corporation Limited (PFC). With over 36 years of varied experience spread across the entire value chain of the power sector, he is very diversified in his work.

 

INTERNATIONAL UPDATES:

 

1. Sheikh Mohamed bin Zayed Al Nahyan appointed President of UAE: The Supreme Council of the Union elected Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi, as President of the UAE. The Council held a meeting at the Mushrif Palace in Abu Dhabi, headed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. He has replaced Sheikh Khalifa Bin Zayed Al Nahyan, who died at the age of 73.

Sheikh Mohamed began wielding power in a period when his half-brother Sheikh Khalifa suffered bouts of illness, including a stroke in 2014. Under his low-key direction, the UAE has put a man in space, sent a probe to Mars, and opened its first nuclear reactor.

Note: UAE Capital: Abu Dhabi; UAE Currency: United Arab Emirates dirham; UAE Prime minister: Mohammed bin Rashid Al Maktoum.

 

2. International Day of Living Together in Peace: 16th May: The International Day of Living Together in Peace is held on 16th May every year. The day is celebrated on the 16th of May throughout the world and with its annual observance, it aims to urge people to live together in a united and peaceful way. Individuals can attain this by listening to each other and respecting one another despite their differences.

History of the International Day of Living Together in Peace: The day first came into being after the United Nations General Assembly adopted a resolution to declare 16 May as the International Day of Living Together in Peace on 8 December 2017. The first International Day of Living Together in Peace was observed in 2018. Ever since the end of World War II, the United Nations has been on a mission to work towards world peace. The year 2000 was recognised as ‘The International Year for a Culture of Peace and from 2001 to 2010, the UN declared it the “International Decade for a Culture of Peace and Non-Violence for Children of the World.”

 

3. International Day of Light: 16th May: The International Day of Light is celebrated on 16 May each year, the anniversary of the first successful operation of the laser in 1960 by physicist and engineer, Theodore Maiman. This day is a call to strengthen scientific cooperation and harness its potential to foster peace and sustainable development. The laser is a perfect example of how a scientific discovery can yield revolutionary benefits to society in communications, healthcare and many other fields.

 

OTHER UPDATES:

 

SPORTS

 

1. ISSF Junior World Cup: Esha Singh and Saurabh Chaudhary won gold in Mixed Team Pistol event: Indian pistol pairs Esha Singh and Saurabh Chaudhary clinched the mixed team pistol gold at the International Shooting Sport Federation (ISSF) Junior World Cup in Suhl, Germany. Esha and Saurabh came through after topping a 38-field qualification round of 60 shots with scores of 578 and 575 respectively. The team of Palak and Sarabjot Singh has settled for the silver medal in the same event. Ramita and Paarth Makhija also won silver in the 10m air rifle mixed team competition. In all, India has so far won 10 medals, including four gold.

Note: ISSF Founded: 1907; ISSF Headquarters: Munich, Germany; ISSF President: Vladimir Lisin.

 

BANKING AND FINANCE

 

1. Union Bank of India launches Online Platform ‘Trade nxt’: The Union Bank of India (UBI) has launched an online platform, ‘Trade nxt’, which enables corporate, and MSMEs (Micro, Small & Medium Enterprises) to transact all cross-border export-import transactions from the comfort of their place, i.e. eliminates the need for companies to visit a bank branch for the same. It offers seamless entry and processing of letters of credit (LC), bank guarantees, export/import bills, disbursement of export credit, outward & inward remittances, dealer financing etc.

About the ‘Trade nxt’ platform: ‘Trade nxt’ platform will also enable the regulatory online auto reporting through Import Data Processing & Monitoring System (IDPMS), Export Data processing & Monitoring System (EDPMS) and other statutory reporting to Overseas Direct Investment (ODI)/ Foreign Direct Investment (FDI)/ Liberalised Remittance Scheme LRS) which will make the process much more convenient.

Note: Union Bank of India Managing Director & CEO: Rajkiran Rai G; Union Bank of India Merged Banks: Andhra Bank, and Corporation Bank; Union Bank of India Headquarters: Mumbai, Maharashtra.

 

BUSINESS AND ECONOMY

 

1. Retail Inflation Surges To 7.79% In April, Highest In 8 Years: India’s retail inflation surged to 7.79 per cent in April, largely driven by rising fuel and food prices, government data showed. The consumer price-based inflation figure stayed well above the Reserve Bank of India’s (RBI’s) upper tolerance limit for the fourth consecutive month. In April, the CPI inflation expanded at its highest pace in eight years. The previous high was recorded at 8.33 per cent in May 2014. April’s print was higher than 6.95 per cent in March and 4.23 per cent a year ago.

Reasons:

a)      The rate of price rise in ‘fuel and light’ category in the retail inflation basket quickened to 10.80 per cent in April this year from 7.52 per cent in the preceding month.

b)      In the ‘oils and fats’ category, inflation remained at an elevated level of 17.28 per cent in April as Ukraine is one of the major sunflower oil producers in the world and India imports a major portion of the commodity from the war-ravaged country. Besides this, Ukraine is also a key supplier of fertiliser to India.

c)       Vegetables witnessed an inflation print of 15.41 per cent during the month as against 11.64 per cent in March.

 

2. Morgan Stanley cuts India’s FY23 growth forecast to 7.6%: Morgan Stanley downgraded India’s growth forecast to 7.6% from 7.9% for FY2023 amid a slowdown in global growth, higher commodity prices and risk aversion in global capital markets. This 7.6% forecast is a baseline forecast for India while its bearish and bullish growth projections are 6.7% and 8%, respectively.

Key points:

a)      For FY24, it lowered its growth forecast to 6.7% from the 7% estimated earlier.

b)      However, the Indian economy will expand at above pre-pandemic growth rates in FY23 and FY24.

c)       On the global front, it projected growth at 2.9% in the calendar year 2022 as compared to 6.2% growth in 2021.

d)      Within Asia, India would be the economy which will be most exposed to upside risks to inflation.

e)      CPI (Consumer Price Index) inflation is expected to be 6.5% for FY23.

f)        The current account deficit to widen to a 10-year high of 3.3% of GDP (Gross Domestic Product) in FY23.

 

OBITUARIES

 

1. UAE President, HH Sheikh Khalifa bin Zayed, passes away: UAE President and Ruler of Abu Dhabi, Sheikh Khalifa bin Zayed Al Nahyan passed away. He served as the President of the UAE and Ruler of Abu Dhabi since November 3, 2004.

About Sheikh Khalifa bin Zayed Al Nahyan: Born in 1948, Sheikh Khalifa was the second President of the UAE and the 16th Ruler of the Emirate of Abu Dhabi. He was the eldest son of Sheikh Zayed. He was elected to succeed his father, late Sheikh Zayed bin Sultan Al Nahyan, who served as the UAE’s first president since the union in 1971 until he passed away on November 2, 2004. Since becoming the president of the UAE, Sheikh Khalifa has presided over a major restructuring of both the Federal Government and the government of Abu Dhabi. Under his reign, the UAE witnessed an accelerated development that ensured decent living for the people calling the country home.

 

2. Eminent Sanskrit and Hindi Scholar, Padma Shri Dr Rama Kant Shukla Passes Away: Padma Shri Dr Rama Kant Shukla, a profound Sanskrit and Hindi Scholar, has passed away in Aligarh, Uttar Pradesh (UP). He was born in Khurja city in Bulandshahr district, UP. Dr Rama Kant Shukla is the founder and general secretary of Devavani Parishad in Delhi, and the founding chairman and editor of “Arvacinasamskrtam”, a quarterly journal in Sanskrit. He was conferred the titles of Sanskrit Rashtrakavi, Kaviratna, and Kavi Siromani by literary and Sanskrit organizations.