Daily GK Update- 21st May, 2022

 

NATIONAL UPDATES:

 

1. Rs 1,500 per acre incentive for farmers approved by Punjab Cabinet: The Punjab Cabinet has authorised a Rs 1,500 per acre incentive for farmers who grow paddy using the direct seeding of rice technology. A total of Rs 450 crore has been set aside to provide incentives to farmers who promote the DSR (Direct Seeding of Rice) technique, which uses less water and is more cost-effective. The incentive scheme was approved by the Cabinet in a meeting headed by chief minister Bhagwant Mann. Key Points:

a)      The incentive was offered by Bhagwant Mann to combat the state’s diminishing ground water table.

b)      Paddy seeds are drilled into the field using the DSR process, which uses a machine that accomplishes both rice seeding and pesticide spraying at the same time.

c)       Farmers nurture immature paddy plants in nurseries before uprooting and transplanting them onto a puddled field, according to the customary practise.

d)      The incentive will encourage farmers to use this established approach, which uses significantly less water for irrigation, enhances percolation, decreases farm labour dependency, and improves soil health, increasing paddy and wheat yields by 5-10%.

e)      The Cabinet also resolved to provide farmers Rs 1,500 per acre in financial support via Direct Benefit Transfer (DBT), for which the Punjab Mandi Board’s Anaj Kharid portal has already generated a database of roughly 11 lakh farmers with their Aadhaar numbers, mobile numbers, and bank account numbers.

 

2. World Bank sanctioned USD 350 million for SRESTHA-G project to Gujarat: World Bank has approved USD 350 million as financial aid for the Systems Reform Endeavors for Transformed Health Achievement in Gujarat (SRESTHA-G) project. The SRESTHA-G project will be worth USD 500 million, with the World Bank contributing USD 350 million. The project will include transforming key health delivery systems in the state.

Key points of the SRESTHA-G project:

a)      Gujarat Chief Minister Bhupendra Patel approved the SRESTHA-G project, after which the proposal was forwarded to the Union Finance Ministry. The Gujarat government will implement the programme through the Health and Family Welfare Department (HFWD).

b)      The Program Development Objective is to improve service delivery in Gujarat by improving primary health care quality, equity, and comprehensiveness, improving service delivery models for adolescent girls, and increasing disease surveillance system capacity.

Note: World Bank Headquarters: Washington, D.C., United States; World Bank Formation: July 1944; World Bank President: David Malpass.

 

3. Kerala to Bring India’s First State-Owned OTT Platform ‘CSpace’: The Kerala government will launch a state-owned over-the-top (OTT) platform on November 1, offering film lovers an array of movies, short films and documentaries of their choice. Kerala will become the first state in India to have a state-owned OTT platform. Kerala Minister for Cultural Affairs Saji Cheriyan revealed the name of the OTT platform as CSPACE. Key points of the initiative:

a)      CPSACE is an initiative of Kerala State Film Development Corporation (KSFDC) on behalf of the state government.

b)      The OTT platform will also showcase films with artistic value irrespective of their performance at the box office, along with internationally recognised and award-winning films, best films screened at the annual International Film Festival of Kerala (IFFK), and short films and documentaries. The registration of films to be streamed on CSpace will begin on June 1.

Note: Kerala Capital: Thiruvananthapuram; Kerala Governor: Arif Mohammad Khan; Kerala Chief Minister: Pinarayi Vijayan.

 

4. Union Minister Jitendra Singh Released E-book Civil List-2022 of IAS officers: Jitendra Singh, Union Minister of State (MoS), Ministry of Personnel, Public Grievances & Pensions released the e-book ‘Civil List – 2022 of IAS officers’ at North Block, Secretariat Building, New Delhi. This is an effort by the Department of Personnel & Training (DoPT) as a part of the Digital India initiative of the Government of India.

This is the 67th edition of the Civil List and the 2nd edition of the e-book in pdf with unique search facilities and hyperlinking of contents for ease of access of information. This will support in selecting the right officer for the right assignment based on the available profile. This is also a vital source of information on the officers manning various posts for the general public.

 

5. Madam Tussaud Museum to start in Noida next month: The wax museum Madame Tussauds is returning to India. The museum will be located in a Noida mall. 50 Indian and international luminaries from sports, entertainment, history, and music will be featured at the new venue. Madame Tussauds India will let visitors to get up up and personal with celebrities as well as some of their most iconic moments.

The museum first opened in Connaught Place, Delhi, in 2017, but was forced to close owing to the pandemic. DLF Mall of India, one of the country’s major shopping malls, would be its new destination. The museum is open to the public under rigorous anti-Covid guidelines. Madame Tussauds has a 200-year history and legacy, having first opened its doors in London in 1835. Sculptors at Madame Tussauds employ the same techniques as the legendary Marie Tussaud to produce each figure. It takes a minimum of 12 weeks for an artist to construct a single life-like figure.

 

6. Anti-Terrorism Day: 21st May: Anti-Terrorism Day is observed every year on 21 May, on the death anniversary of former Prime Minister Rajiv Gandhi. He was assassinated on May 21, 1991, by the LTTE terrorists while campaigning for the Congress Party at Sriperumbudur in Tamil Nadu. Rajiv Gandhi became India’s youngest PM when he was sworn in at 40. He took over as the sixth PM of the country after Indira Gandhi’s assassination in 1984. He served from 1984 to 1989.

Significance of Anti-Terrorism Day: Anti-Terrorism Day is celebrated to promote peace and harmony. Terrorists feel the need to inflict disaster on innocent people either because they are brain-washed because they believe it is their religious purpose or simply because they don’t have a conscience. Whatever be their motivation, there’s no denying the fact that their activities are immoral. The day also helps us remember the sacrifices made by thousands of soldiers and policemen who fought against terrorism to protect their country and their people.

 

INTERNATIONAL UPDATES:

 

1. Nirmala Sitharaman chairs the 7th Annual Meeting of Board of Governors of NDB: Union Minister of Finance & Corporate Affairs and India’s Governor for the New Development Bank (NDB), Smt. Nirmala Sitharaman chaired the 7th Annual Meeting of Board of Governors of NDB through video conference in New Delhi. The meeting was also attended by Governors/Alternate Governors of Brazil, China, Russia, South Africa and the newly joined members Bangladesh and United Arab Emirates (UAE). This Annual Meeting of NDB which was hosted/chaired by India this year was organised in virtual mode. This year’s theme for the Annual Meeting was “NDB: Optimising Development Impact”, which is particularly important and relevant in the current global economic scenario. Highlights of the meeting:

a)      Highlighting that India is celebrating 75 years of Independence this year, the Union Finance Minister mentioned that India’s economic growth in the current financial year has been robust and is estimated to be 8.9 per cent which is the highest among all large economies.

b)      This reflects India’s strong resilience and speedy recovery. Smt. Sitharaman expressed confidence that India will continue to achieve a high growth rate in the current and next financial year.

c)       While acknowledging the NDB’s achievements and progress made over the last six years, Smt. Sitharaman highlighted that the Bank has demonstrated strong results within its core mandate.

d)      The Union Finance Minister also appreciated the progress made towards setting up of the India Regional Office in Gift City, Gujarat.

e)      The Finance Minister concluded her statement on a positive note, stating that NDB will play a significant and meaningful role in the development journey of its member countries in the decades to come.

 

2. International Tea Day: 21st May: The International Tea Day is observed on May 21 every year. The day is known to create awareness about safe working conditions for the tea workers, fair trade and a sustainable environment to improve the production of tea.

History of International Tea Day: The United Nations General Assembly has designated May 21 as International Tea Day based on a proposal moved by India at the FAO Intergovernmental Group (IGG) on Tea in October 2015. Before 2019, December 15 is celebrated as International Tea Day in tea producing nations such as Bangladesh, Sri Lanka, Nepal, Vietnam, Indonesia, Kenya, Malawi, Malaysia, Uganda, India and Tanzania.

The first International Tea Day was held in Delhi, India in 2005. It was in 2015 that the Indian government proposed the UN Food and Agriculture Organisation to expand this day globally. The day is observed in the month of May because it is during this time of the year that tea production begins in most countries.

 

3. World Day for Cultural Diversity for Dialogue and Development: 21st May: The UN General Assembly, in its resolution, declared May 21 to be the World Day for Cultural Diversity for Dialogue and Development. The day aims to celebrate the richness of the world’s cultures and highlight the significance of its diversity as an agent of inclusion and positive change for achieving peace and sustainable development. Diversity Day, officially known as “The World Day for Cultural Diversity for Dialogue and Development”, is an opportunity to help communities understand the value of cultural diversity and learn how to live together in harmony.

History of World Day for Cultural Diversity for Dialogue and Development: In the year 2001, The United Nations Educational, Scientific and Cultural Organization (UNESCO) adopted the ‘Universal Declaration on Cultural Diversity’ as a result of the destruction of the Buddha statues of Bamiyan in Afghanistan in 2001. Then in December 2002, the UN General Assembly (UNGA) in its resolution 57/249, declared 21 May to be World Day for Cultural Diversity for Dialogue and Development.

 

OTHER UPDATES:

 

SPORTS

 

1. Nikhat Zareen wins gold at Women’s World Boxing Championships: Nikhat Zareen gave a dazzling performance to beat Thai Olympian Jutamas Jitpong 5-0 and become the fifth Indian woman to win a World title at the Women’s World Championships, Istanbul. Nikhat thus becomes only the fifth Indian women’s boxer after Mary Kom, Sarita Devi, Jenny RL and Lekha KC to win a gold at the World Championships. The 25-year-old Zareen is a former junior youth world champion. The 25-year-old Indian took full advantage of her long reach and maintained her dominance against the Thai boxer, whom she had beaten in the 2019 Thailand Open semi-final—the only meeting between the two, enroute her silver medal finish.

 

BANKING AND FINANCE

 

1. PNB MetLife launched India’s 1st dental health insurance plan: PNB MetLife India Insurance Company has launched India’s first dental health insurance plan. This is the first insurance plan in India that covers fixed-benefit outpatient expenses and provides financial assistance with costs related to overall dental health. This launch reinforces PNB MetLife leadership in the industry with this one-of-a-kind, standalone, the dental health insurance plan that covers major dental procedures without the hassles of hospitalisation.

PNB MetLife’s new Dental Care Plan will help customers manage their dental health and ensure they do not have to dive into their savings or reduce their essential spending in order to make space for dental treatment. To provide convenience to its customers, PNB MetLife has tied up with more than 340 dental clinics.

Note: PNB MetLife Established: 2001; PNB MetLife Headquarters: Mumbai, Maharashtra; PNB MetLife Chairman: Kishore Ponnavolu; PNB MetLife MD & CEO: Ashish Kumar Srivastava.

 

BUSINESS AND ECONOMY

 

1. BSE named Ex RBI Deputy Governor SS Mundra as Chairman: Leading stock exchange BSE Limited announced that it has approved the appointment of SS Mundra, Public Interest Director as the Chairman of the board of directors of the company. Mundra will replace Justice Vikramajit Sen who is the current chairman. Mundra was appointed as Public Interest Director at BSE in January 2018. He retired as Deputy Governor of the Reserve Bank of India on 30th July 2017.

 

2. Bharti Airtel re-appoints Gopal Vittal as MD and CEO for 5 years: Bharti Airtel board has reappointed Gopal Vittal as Managing Director & CEO for a further period of five years ending on January 31, 2028. The reappointment came on a day the telco posted a consolidated net profit at Rs 2,007.8 crore in the March quarter, up 141% sequentially and 164% on the year. Analysts had an estimated net profit of around Rs 1,970 crore. This was Airtel’s sixth successive quarter in the black after six straight losses earlier.

For the India business, its revenue growth stood at 23 per cent during the fourth quarter, while mobile revenues rose 21 per cent on the back of an increase in Average Revenue Per User ARPU led by healthy flow-through of tariff revision and strong 4G customer additions during the year.

Note: Bharti Airtel Founder: Sunil Bharti Mittal; Bharti Airtel Founded: 7 July 1995, India.

 

AWARDS AND HONOURS

 

1. Wesley Morgan won William E. Colby award for his book ‘The Hardest Place’: Author and journalist, Wesley Morgan has won the William E. Colby Award 2022 for his military and intelligence writing. He was cited for his book “The Hardest Place: The American Military Adrift in Afghanistan’s Pech Valley.” The Colby Award, a $5,000 prize named for the former ambassador and CIA director William E. Colby, is given for “a major contribution to the understanding of military history, intelligence operations or international affairs.” The Colby Award is presented by Norwich University in Northfield, Vermont. The Colby award was established in 1999.

Daily GK Update- 20th May, 2022

 

NATIONAL UPDATES:

 

1. Punjab CM Bhagwant Mann launched ‘Lok Milni’ scheme for redressal of public complaints: Chief Minister of Punjab, Bhagwant Mann heard the grievances of the people of the state and issued redressal directions in ‘Lok Milni’, a first-of-its-kind public interaction programme. This interactive programme was launched with the aim of providing a single-window platform to the people of the state for the redressal of the complaints that they have. The people of the state who had submitted various grievances and complaints with the state government in the previous two months were called to attend this programme.

As many as 61 complainants listed their grievances before the chief minister during this ‘Lok Milni’. He directed the top officers of the various departments present on the occasion to ensure the resolution of these complaints in a time-bound manner.

Note: Punjab Capital: Chandigarh; Punjab Governor: Banwarilal Purohit; Punjab Chief Minister: Bhagwant Mann.

 

2. WCR develops battery-operated dual-mode locomotive ‘Navdoot’: West Central Railway has developed a battery-operated dual-mode locomotive named Navdoot. This engine runs on both modes i.e. battery and electricity. Currently, it is being used during the shunting of trains at Jabalpur, Mudwara, and other stations on a trial basis. This Dual Mode Locomotive has also received the Best Innovation Award from the Railway Board. Railways will save 1000 litres of diesel every day with this new locomotive. After clearing all the trials, it will be used more widely. About ‘Navdoot’

a)      This engine runs on both modes i.e. battery and electricity.

b)      This e-engine can pull 18 coaches at a speed of 30 kmph.

c)       It has 84 batteries and has a capacity to pull 400 tonnes at present.

d)      This has been developed by the Electric Department of New Katni Junction.

e)      After clearing all the trials, it will be used more widely in other stations for purposes like carrying goods, coal, oil tankers etc.

 

3. Sunil Arora, India’s former Chief EC, has been named Chairman of Gram Unnati: Sunil Arora, the former chief election commissioner, has been named as the new non-executive chairman of Gram Unnati’s board. Arora is a retired civil servant (IAS) with over 36 years of experience. He has worked as the secretary of two important ministries, the Ministry of Information and Broadcasting and the Ministry of Skill Development and Entrepreneurship.

About Gram Unnati: Gram Unnati is a social venture that helps farmers increase their net income by increasing price realisation, enhancing agricultural productivity, and lowering cultivation costs. Gram Unnati provides agro-processors, banks, agro-input manufacturers, research institutes, and others with the physical and technological infrastructure they need to reach and service farmers. Gram Unnati offers marginal farmers consulting services, low-cost high-quality inputs, and market connections, as well as tailored production, logistics, and end-to-end quality control of agricultural products to institutional purchasers.

 

4. HarperCollins India to publish Preeti Shenoy new novel, ‘A Place Called Home’: Bestselling author Preeti Shenoy is set to publish a new novel titled “A Place Called Home”, a story set in a coffee estate in Sakleshpur, Karnataka with a strong female protagonist at its core. The new novel is about secrets, family, and finding yourself. The book published by HarperCollins Publishers India is set to be released in June 2022.

 

5. National Endangered Species Day: 20th May: Every year on the third Friday of May, people across the globe observe National Endangered Species Day. This year the day is celebrated on May 20. This year, it marks the 16th National Endangered Species Day. National Endangered Species Day is celebrated with the main emphasis on conserving our planet Earth’s flora and fauna. The day reminds human beings that they can do a lot to protect these species. The National Endangered Species Day theme 2022 is “Recovering key species for ecosystem restoration”. Every year the awareness campaign takes place around a theme.

History of the National Endangered Species Day: On 28 December to lift up the importance of wildlife conservation and restoration efforts for all endangered species The Endangered Species Act of 1973 was signed into law. National Endangered Species Day was founded and started by David Robinson and the Endangered Species Coalition in 2006. Since 2006 third Friday of May is observed as National Endangered Species Day.

 

INTERNATIONAL UPDATES:

 

1. After Pakistan shot SAARC in 2016, India will go bilateral: The future of SAARC seems bleak, with Sri Lanka, Pakistan, and Nepal in economic limbo, and Afghanistan under Islamist Taliban control. This leaves India with little choice but to engage in bilateral engagement with its neighbours in order to protect its national security. Ironically, the Taliban in Afghanistan are currently embroiled in a simmering war with their tutor, the Pakistan Army, which refuses to recognise the Durand Line, which splits the Pashtun tribe between the two countries.

Key Points:

a)      Pakistan Prime Minister Shahbaz Sharif is confronting a full-blown economic crisis and does not have a magic wand to miraculously address the country’s various problems, despite the fact that Imran Khan Niazi has been booted out of office, putting a stop to the political upheaval.

b)      Afghanistan is ruled by a hardline Islamist Taliban administration eight years after the last summit, with a total budget of $2.6 billion for the current fiscal year.

c)       The country is on the verge of famine and disease as the ISI-backed Haqqani Network, led by global terrorist Sirajuddin Haqqani, battles the Kandahar Taliban, led by Mullah Omar’s son Yaqub, for control of Kabul.

d)      The country is on life support, with its primary international exports being terrorism and narcotics.

Background: On September 18, 2016, the Pakistan-based terror group Jaish-e-Mohammed assaulted the Uri Brigade headquarters, killing 19 Indian Army troopers and injuring another two scores. All SAARC countries except Nepal, the chair, walked out of the summit with India.

 

2. Sky Bridge 721: World’s longest suspension bridge, been opened in Czech Republic: The world’s largest suspension bridge has opened to travellers in the Czech Republic. The bridge, which had been under construction for nearly two years, was officially opened. Sky Bridge 721 is the name given to it. The promenade promises both beautiful views of the cloud-shrouded Jesenky mountains and an exhilarating, but slightly dangerous experience.

Key Points:

a)      The cable car can take you to the bridge, which crosses two mountain ranges and hovers 95 metres (312 feet) above a valley. It measures 721 metres (2,365 feet) in length. Tourists will enter at a height of 1,125 metres and depart at a height of 10 metres.

b)      Visitors visiting the bridge will have to walk one way only. They will step onto a paved pathway in a woodland after exiting the other side, where they will learn about Czech history.

c)       The 1.2-metre-wide bridge, according to the holiday resort where this bridge is located, is open to children of all ages and heights, but is not ideal for individuals using pushchairs or wheelchairs.

d)      The suspension bridge cost 200 million crowns, or $8.4 million, according to local media sources.

e)      The Czech Republic Sky Bridge is 154 metres longer than Nepal’s Baglung Parbat Footbridge, which is the world’s longest suspension footbridge.

 

3. World Bee Day: 20th May: World Bee Day is observed worldwide on May 20. World Bee Day is to acknowledge the role of bees and other pollinators in the ecosystem. Raising awareness of the importance of pollinators in our environment, the threats they face and their important role in sustainability in the ecosystem is the key purpose behind the observance of this day. This year Food and Agriculture Organization (FAO) will celebrate World Bee Day through a virtual event, under the theme ‘Bee Engaged: Celebrating the diversity of bees and beekeeping systems’.

History of World Bee Day: World Bee Day was first inaugurated on 20th May 2018 and is celebrated every year ever since. This day commemorates the birth of Anton Jansa in 1734. She is considered the pioneer of beekeeping. In December 2017, the United Nations Member States approved the proposal of Slovenia to proclaim 20 May as World Bee Day.

Note: Food and Agriculture Organization Director-General: QU Dongyu; Food and Agriculture Organization Headquarters: Rome, Italy; Food and Agriculture Organization Founded: 16 October 1945.

 

4. World Metrology Day: 20th May: World Metrology Day (WMD) is annually observed across the globe on 20th May to create awareness about the Metrology, the science of measurement and its application. The day highlights the use of Metrology in scientific fields, innovation, industries, trading and other fields. The theme for World Metrology Day 2022 is Metrology in the Digital Era. This theme was chosen because digital technology is revolutionizing our community, and is one of the most exciting trends in society today.

History of the day: World Metrology Day is an annual celebration of the signature of the Metre Convention on 20 May 1875 by representatives of seventeen nations. The Convention set the framework for global collaboration in the science of measurement and in its industrial, commercial and societal applications. The original aim of the Metre Convention – the worldwide uniformity of measurement – remains as important today as it was in 1875.

Note: International Organization of Legal Metrology Headquarters: Paris, France; International Organization of Legal Metrology Founded: 1955.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI: Public sector banks’ frauds down 51% to Rs 40,295 crore in FY22: The Reserve Bank of India has said that public sector banks reported over a 51 per cent fall in the amount involved in frauds to Rs 40,295.25 crore during the financial year 2021-22 (FY22). As many as 12 PSBs (Public Sector Banks) had reported frauds worth Rs 81,921.54 crore in the preceding fiscal 2020-21, the central bank said in response to an application under the Right to Information (RTI) Act. However, the number of fraud cases didn’t fall at the same pace as a total of 7,940 frauds reported by the PSBs in 2021-22, against 9,933 incidents reported in FY21, said the RBI’s reply to Madhya Pradesh-based RTI activist Chandrashekhar Gaur.

Key points of the reports:

a)      According to the RBI data on frauds reported by PSBs in all categories during FY22, the highest amount of Rs 9,528.95 crore was reported by the city-based Punjab National Bank (PNB), involving 431 such incidents.

b)      The country’s largest lender State Bank of India reported frauds worth Rs 6,932.37 crore in as many as 4,192 cases — reflecting incidents of a large number of small value frauds.

c)       Bank of India reported frauds worth Rs 5,923.99 crore (209 incidents), followed by Bank of Baroda at Rs 3,989.36 crore (280); Union Bank of India Rs 3,939 crore (627), while Canara Bank reported frauds worth Rs 3,230.18 crore in just 90 cases — showing that the transactions were of high-value frauds.

Note: RBI Founded: April 1, 1935; RBI Headquarters: Mumbai, Maharashtra; RBI Governor: Shaktikanta Das

 

BUSINESS AND ECONOMY

 

1. Patanjali Food Business will be acquired by Ruchi Soya for Rs. 690 crore: Ruchi Soya, an edible oil company, has announced that it will buy Patanjali Ayurved’s food division for Rs 690 crore. Ruchi Soya’s transition to the fast-moving consumer goods (FMCG) category is likely to be accelerated as a result of this. After regulatory permissions, the name of Ruchi Soya Industries Ltd would be changed to Patanjali Foods Ltd. Ghee, honey, spices, juices, and wheat are among the 21 products in the acquired food industry.

Key Points:

a)      According to a company source, Ruchi Soya will pay Patanjali Ayurved an annual royalty estimated at 1% of the gross turnover of the items under the transfer agreement.

b)      It’s a debt-free transaction, with Ruchi Soya paying for it with internal accruals.

c)       With effect from, the board of Patanjali Ayurved has approved the transfer of food business to Ruchi Soya Industries.

d)      In trading, Ruchi Soya’s shares closed 10% higher at Rs 1,192.15 per share.

e)      Ruchi Soya will receive the production units in Padartha (Haridwar, Uttarakhand) and Newasa as part of the agreement (Maharashtra).

f)        Employees, assets, contracts, licences and permits, distribution network, and consumers associated to Patanjali Ayurved’s food retail business will all be transferred.

 

2. S&P Cuts India’s Economic Growth Forecast To 7.3% For 2022-23: S&P Global Ratings cut India’s growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict. S&P had in December last year pegged India’s GDP growth in 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent. For the next fiscal the growth has been pegged at 6.5 per cent.

Other Important points:

a)      In the aftermath of the Russia-Ukraine war and rising commodity prices, various global agencies have cut India’s growth forecast recently.

b)      The World Bank in April slashed India’s GDP forecast for fiscal 2022-23 to 8 per cent from 8.7 per cent predicted earlier, while IMF has cut the projections to 8.2 per cent from 9 per cent.

c)       Asian Development Bank (ADB) has projected India’s growth at 7.5 per cent, while the RBI, last month, cut its forecast to 7.2 per cent from 7.8 per cent amid volatile crude oil prices and supply chain disruptions due to the ongoing Russia-Ukraine war.

 

AWARDS AND HONOURS

 

1. Ajay Piramal receives Order of the British Empire award: Chairman of the Piramal Group, Ajay Piramal has received an honorary Commander of the Order of the British Empire (CBE) by Her Majesty The Queen. He received the award for services to the UK-India trade relationship as India Co-Chair of the UK-India CEO Forum. As co-chair of the India-UK CEO forum since 2016, the endeavour has been to help strengthen the strong bilateral relations between the two countries through greater economic cooperation.

Daily GK Update- 19th May, 2022

 

NATIONAL UPDATES:

 

1. Centre announces formation of Cotton Council of India: The Union Government has announced the formation of the Cotton Council of India under the Chairmanship of renowned veteran cotton man Suresh Bhai Kotak. The Council will have representation from Textiles, Agriculture, Commerce, and Finance Ministries along with Cotton Corporation of India and Cotton Research Institute. Mr Goyal also appealed to the spinning and trading community to ensure a hassle-free supply of cotton and yarn first to the domestic industry.

The government is committed to protecting the interests of cotton farmers, spinners, and weavers, the Minister assured to actively consider the demand of the spinning sector for exemption from import duty on those import contracts in which bills of loading are issued up to September 30, 2022, to overcome the current cotton shortage and logistic issues.

About Cotton Council of India (CCI): The council will discuss, deliberate, and prepare a robust action plan for bringing out a tangible improvement in this field. The announcement came yesterday during a meeting with stakeholders from the cotton value chain, held under the Chairmanship of Union Textiles Minister Piyush Goyal.

 

2. Panel of PM’s Office recommends urban job guarantee scheme: The Economic Advisory Council to the Prime Minister (EAC-PM) has recommended that the government implement a guaranteed employment programme for the unemployed in cities and implement a universal basic income (UBI) scheme to eliminate income gaps. Citing the country’s uneven income distribution, the report also advocated raising the minimum wage and increasing government investment on the social sector to make vulnerable groups more resilient to shocks and prevent them from falling into poverty. Key Points:

a)      According to the report that is titled, “The State of Inequality in India”, given the disparity in labour force participation rates between rural and urban areas, the urban equivalent of demand-based and guaranteed employment programmes such as MGNREGS should be implemented so that surplus labour can be rehabilitated.

b)      It added that boosting the minimum wage and implementing universal basic income are two ideas that can help close the income gap and ensure that wages are distributed equally in the labour market.

c)       The EAC-PM stated that charting the mobility into and out of poverty is the most significant part of quantifying poverty in a multi-dimensional environment.

d)      According to the results of the three rounds of the Periodic Labour Force Survey (PLFS), the top 1% of the population possessed 6-7% of total income earned in the three years to 2019-20, with the top 10% holding a third.

 

3. Ashwini Vaishnaw Opened NIELIT Center in Leh, Ladakh: Union Cabinet Minister of Electronics & Information Technology, Communications and Railways, Ashwini Vaishnaw has inaugurated the National Institute of Electronics and Information Technology (NIELIT) Centre Leh, Extension Centre Kargil and IT Enabled Incubation Centre for Handicraft and Handloom Sector.

Union Minister, Sh. Ashwini Vaishnaw, while inaugurating the NIELIT Centres at Leh, Kargil and Incubation Centre at Leh, reiterated the commitment of the Hon’ble Prime Minister for the development of UT of Ladakh. He informed that after the abrogation of Article 370 and the formation of the new UT, the path of development in this area has opened manifolds. Any proposal related to IT Education, Training, and Incubation for the development of UT of Ladakh will be approved immediately by the Ministry of Electronics and Information Technology. He also complimented NIELIT for starting the Leh and Kargil Centres and setting up of IT Enabled Incubation Centre in record time which needs to be scaled up at a faster pace.

 

4. Supreme Court has ordered the release of Rajiv Gandhi’s assassination suspect: The Supreme Court used Article 142 of the Constitution to grant AG Perarivalan, a convict in the assassination of former Prime Minister Rajiv Gandhi, extraordinary powers to “do complete justice in any cause or matter pending before it.” Perarivalan was released free by a bench of justices led by L.N. Rao and B.R. Gavai, who took into account his lengthy incarceration.

Perarivalan spent 29 of his 32 years in prison in solitary confinement until being granted bail by the Supreme Court in March 2022. He spent 16 years on execution row before the court remitted his sentence to life imprisonment in 2014. The court further noted that Perarivalan had filed his clemency plea under Article 161 with the Tamil Nadu Governor in 2015, and that the state cabinet had instructed the state’s chief executive to accept it in September 2018.

Background: Rajiv Gandhi was slain in a suicide explosion at a rally in Sriperumbudur, Tamil Nadu, on May 21, 1991. Perarivalan was arrested on June 11, 1991, while he was only 19 years old. On January 28, 1998, 26 persons were sentenced to death, including Perarivalan and his co-accused Nalini. On May 11, 1999, the Supreme Court maintained the death sentences of Murugan, Santhan, Perarivalan, and Nalini.

 

INTERNATIONAL UPDATES:

 

1. Emmanuel Macron names Elisabeth Borne as France’s new prime minister: Elisabeth Borne was appointed France’s new Prime Minister to become the second woman to hold the post in the country. She has served as Labor Minister in Macron’s previous government since 2020. Borne is the second woman to hold the position after Edith Cresson, who was Prime Minister from 1991-to 1992 under Socialist President Francois Mitterrand.

Borne, succeeds Jean Castex, whose resignation was expected after President Emmanuel Macron’s reelection last month. Macron and Borne are expected to appoint the full government in the coming days. Macron is expected to name a new prime minister shortly. French media say Labor Minister Elisabeth Borne is the favourite for the job. In France, it’s common for presidents to have more than one prime minister during their terms.

Note: France Capital: Paris; France President: Emmanuel Macron.

 

2. Somalia elects Hassan Sheikh Mohamud as new president: Somali legislators have elected former leader Hassan Sheikh Mohamud as the country’s next president, following a long-overdue election in the troubled Horn of Africa nation. Hassan Sheikh Mohamud, who served as Somalia’s president between 2012 and 2017, won the contest in the capital, Mogadishu, amid a security lockdown imposed by authorities to prevent deadly rebel attacks. He defeated Mohamed Abdullahi Mohamed (also known as Farmajo).

The presidential elections committee said in a statement that Mohamud collected 214 votes against 110 casts in favour of incumbent president Mohamed Abdullahi Mohamed Farmaajo in a final third round. The 66-year-old Mohamud is the leader of the Union for Peace and Development Party, which commands a majority of seats in both legislative chambers.

Note: Federal Republic of Somalia Capital: Mogadishu; Federal Republic of Somalia Currency: Somali Shilling (SOS); Federal Republic of Somalia Prime Minister: Mohammed Hussein Roble.

 

3. Dr Kamal Bawa Elected to US’ National Academy of Sciences: The chief of Bengaluru-based Ashoka Trust for Research in Ecology and the Environment (ATREE), Dr Kamal Bawa has been elected to the US National Academy of Sciences. The election is the reaffirmation of our important work on the ecology, conservation, and management of tropical forests that are declining all over the world but are critical to humanity’s well-being. He is also an elected fellow of the Royal Society (London) and the American Philosophical Society.

 

OTHER UPDATES:

 

SPORTS

 

1. Italian Open 2022: Check the complete list of winners: World No.1 Serbia’s Novak Djokovic has defeated Stefanos Tsitsipas to win the 79th edition of the Italian Open (Internazionali BNL d’Italia) in Rome and to capture the 38th ATP Masters 1000 crown. Novak Djokovic became the fifth man in the Open Era to earn 1,000 match wins after defeating Casper Ruud in the semi-finals. In women’s singles, Iga Swiatek has won the Italian Open title after defeating Ons Jabeur.

Here is the list of winners and runner-ups of the Italian Open finals:

 

Category	Winner	Runner-up
Men’s singles	Novak Djokovic (Serbia)	Stefanos Tsitsipas (Greece)
Women’s singles	Iga Świątek (Poland)	Ons Jabeur (Tunisia)
Men’s doubles	Nikola Mektić and Mate Pavić (Croatia)	John Isner (United States) & Diego Schwartzman (Argentina)
Women’s doubles	Veronika Kudermetova and Anastasia Pavlyuchenkova (Russia)	Gabriela Dabrowski (Canada) & Giuliana Olmos (Mexico)

 

2. South Korea won the Uber Cup 2022, defeating China: After a thrilling final at the Impact Arena in Bangkok, Thailand, Korea stunned defending champions China to capture their second Uber Cup title. Korea fought back from behind twice to deny China a record-extending 16th title in the famous team tournament in a tie that lasted close to 90 minutes apiece.

Key Points:

a)      In the deciding singles match, Korea’s 46th-ranked Sim Yu-jin faced China’s 15th-ranked Wang Zhiyi, with the final knotted at 2-2. Sim, who turned 23, beat Wang 28-26, 18-21, 21-8 in an hour and 28-minute match.

b)      After a surprising run in Bangkok, Korea won the Uber Cup for the first time in 12 years. The Asian giants beat India 5-0 to win their group, then defeated Denmark and Japan 3-0 in the quarter-finals and semi-finals, respectively.

c)       World No. 3 In the first game, Chen was defeated by fourth-ranked An by 21-17. The Korean had a five-point lead early in the second game, but Chen came back to win that game 21-15 and the decider 22-20, despite an ankle injury concern.

d)      In the second doubles match of the final, Korea’s Km Hye Jeong and Kong Heeyong defeated Ping Huang and Li Wen Mei in straight games, forcing the final to a decider.

 

BUSINESS AND ECONOMY

 

1. S N Subrahmanyan: Appointed as MD and CEO of Larsen & Toubro: S.N. Subrahmanyan, the current deputy managing director and president of Larsen and Toubro Ltd (L&T), has been named managing director and chief executive officer, marking the first change of guard at the top of India’s largest engineering and construction corporation in 18 years. S.N. Subramanyam will replace A.M. Naik as the CEO of the company. Key Points:

a)      L&T said that A.M. Naik, the company’s long-serving chairman, has been named non-executive chairman for three years to ensure a smooth transition of leadership and to provide direction and mentorship to management.

b)      The present term of Naik as group executive chairman expires on September 30. He had been given a five-year extension till the company’s annual general meeting in 2017, which he had received in 2012.

c)       During Naik’s 18-year tenure, the $16 billion-in-revenue L&T has gone global, waged bitter battles with competitors, avoided a hostile acquisition, and diversified into various new sectors, including defence equipment manufacturing.

d)      Subrahmanyan also takes over at a difficult time: private investment demand in India hasn’t taken off, West Asia is slowing due to low oil prices, and the company has a high working capital and low return on equity.

 

2. Eicher Motors named B Govindarajan as new CEO of Royal Enfield: Eicher Motors has appointed B Govindarajan as the Chief Executive Officer of Royal Enfield. He will also serve as the Wholetime Director of the Board of Eicher Motors Limited. Since 2021 August, Govindarajan had been serving the company as the executive director, prior to which he was associated as the chief operating officer since 2013.

Govindarajan played a key role in the development of the Himalayan, Continental GT 650 and Interceptor INT 650 and the recent J-platform based Meteor and Classic 350 models. He has spent over 23 years working across Royal Enfield and Eicher Motors and over the years.

About the Royal Enfield: Royal Enfield is an Indian multinational motorcycle manufacturing company headquartered in Chennai, Tamil Nadu, India. The company is the oldest global motorcycle brand in continuous production and operates manufacturing plants in Chennai in India.

Note: Royal Enfield Headquarters: Chennai; Royal Enfield Founded: 1955; Royal Enfield Parent organization: Eicher Motors.

 

DEFENCE

 

1. Rajnath Singh launches India-made warships, INS Surat and INS Udaygiri: Defence minister Rajnath Singh has launched two made-in-India warships INS ‘Surat’ and ‘Udaygiri’ at the Mazagon Docks in Mumbai. This is the first time that the two indigenously built warships have been launched together, the Mazgaon Dock Shipbuilders Ltd (MDL). Both warships have been designed in-house by the Directorate of Naval Design (DND) and built at MDL, Mumbai.

About INS Surat: Indian Naval Ship (INS) Surat is the fourth destroyer in Project 15B which is named after the second-largest commercial hub of western India. Built using block construction, the ship involves the hull construction in two different geographical locations, which was then assembled at Mazagon Docks Limited.

About the INS Udaygiri: Indian Naval Ship (INS) Udaygiri, named after a mountain range in Andhra Pradesh, is the third ship of Project 17A Frigates. It is a follow to the P17 Frigates (Shivalik Class) with improved stealth features, advanced weapons and sensors and platform management systems. The new warship is the reincarnation of the erstwhile ‘Udaygiri’, the Leander class ASW frigate, which saw numerous challenging operations in its illustrious service to the country, spanning over three decades from February 1976 to August 2007.