Daily GK Update- 30th June, 2022

NATIONAL UPDATES:

 

1. ‘One health pilot’ initiative launched in Bengaluru: The Department of Animal Husbandry & Dairying (DAHD) launched the One Health pilot in Bengaluru, Karnataka. The programme is aimed at bringing stakeholders from animal, human and environment health on a common platform to address challenges. DAHD in collaboration with the Bill & Melinda Gates Foundation (BMGF) and The Confederation of Indian Industry (CII) as implementation partner is implementing the One-Health Framework undertaking project in the states of Karnataka and Uttarakhand, the Ministry of Fisheries, Animal Husbandry & Dairying.

‘One Health Pilot’: Benefits

a)      Human health cannot be viewed in isolation and it is dependent on the environment it lives which includes animals too. The One Health project helps in realizing the interdependencies that animal and environmental health have on human life.

b)      It will develop a national One Health roadmap based on the learnings of the pilot project implementation.

c)       This will be useful in preventing zoonotic disease outbreaks in the future and facilitate a better response mechanism. Earlier, Union Health Minister Mansukh Mandaviya had called for the need of creating vigilance and awareness on zoonotic diseases.

d)      The pilot project will institutionalize better management, and development of a targeted surveillance plan, integrate a network of laboratories, develop and implement communication strategy across sectors

e)      It will also integrate data with the digital architecture of the National Digital Livestock Mission. Furthermore, it will also help in building a strong social infrastructure that supports the health of the people and the planet.

 

2. Honey Testing Lab in Nagaland inaugurated by Union Agriculture Minister: During his visit to Nagaland, the Union Minister for Agriculture and Farmers Welfare, Narendra Singh Tomar, officially inaugurated the Dimapur Honey Testing Laboratory. The honey testing facility will support beekeepers and producers in testing their produced honey. At the North-East Agri Expo, Chumaokedlma, Tomar was attending an event. Among others, G. Kaito, the Nagaland Agriculture Minister, Chief Secretary J. Alam, and Central Horticulture Commissioner Prabhat Kumar attended the ceremony. Speaking at the event, Tomar stated that when it comes to overall growth, the Northeast Region cannot be ignored. Therefore, the government aims to make the north east region self-sufficient through its plans, initiatives, funds, and institutions.

 

3. Uddhav Thackeray resigns as Maharashtra CM: Uddhav Thackeray has resigned as the Chief Minister of Maharashtra. This comes immediately after the Supreme Court refused to stay Maharashtra Governor’s direction to the Uddhav Thackeray-led Maha Vikas Aghadi (MVA) government to take a floor test in the Assembly. Late in the evening, Mr. Thackeray submitted his resignation to Mr. Bhagat Singh Koshyari at the Raj Bhavan in Mumbai. The Governor accepted the resignation of Mr. Thackeray and asked him to officiate as the Chief Minister until alternate arrangements are made.

Why this happen: Mr. Eknath Shinde had revolted against the Sena chief with 39 MLAs and had been stationed in Guwahati since June 22. He had demanded that Mr. Thackeray should snap ties with the Congress and the NCP for the sake of Hindutva. With Mr. Thackeray resigning, Mr. Shinde will have little option but to approach him.

 

INTERNATIONAL UPDATES:

 

1. Iran, Argentina applies to join China and Russia in BRICS club: Iran has submitted an application to become a member in the group of emerging economies known as the BRICS. Iran’s membership in the BRICS group, which includes Brazil, Russia, India, China and South Africa, “would result in added values for both sides,” Iran’s Foreign Ministry spokesperson. Argentina had also applied to join the group. Argentina’s President Alberto Fernandez, currently in Europe, has in recent days reiterated his desire for Argentina to join BRICS. Russia has long been pushing to forge closer ties with Asia, South America and the Middle East, but it has intensified its efforts recently to weather sanctions imposed by Europe, the United States and other countries over its invasion on Ukraine.

 

2. Conclusion of G7 meeting in Germany 2022: The United States and other major nations came to an agreement at their G7 summit’s conclusion to concentrate on China‘s growing threats, despite the fact that the three-day meeting’s most pressing issue was Russia’s conflict in Ukraine. In a communique, the Group of Seven (G7) countries articulated a strategy for challenging Beijing regarding its economic policies and human rights violations. Key Points:

a)      In the statement, Beijing was encouraged to respect human rights and Hong Kong‘s autonomy as well as to help to put an end to Russian aggression in Ukraine.

b)      It was also denounced for its aggressive actions in the East and South China Seas.

c)       Regarding China‘s contribution to the world economy, they are still consulting on collective responses to issues posed by nonmarket policies and practises that distort the global economy, including those outside of the G-7.

 

3. International Asteroid Day: 30th June: World Asteroid Day (also known as International Asteroid Day) is an annual UN-sanctioned global awareness campaign event observed on June 30, which is the anniversary of the Siberian Tunguska event of 1908. To provide knowledge to the general public about the importance of asteroids in history, and the role they play in our solar system today. The theme of Asteroid Day 2022 is “small is beautiful.”

International Asteroid Day History: In December 2016, the UN General Assembly adopted a resolution in order to “observe each year at the international level the anniversary of the Tunguska impact over Siberia, Russian Federation, on 30 June 1908, and to raise public awareness about the asteroid impact hazard.” Tunguska event is the most harmful known asteroid-related event on Earth in recent history.

 

4. International Day of Parliamentarism: 30th June: June 30 is observed as the International Day of Parliamentarism every year to commemorate the date on which the Inter-Parliamentary Union (IPU) was founded. The IPU, founded in Paris in 1889, is an international organisation of national parliaments to promote democratic governance, accountability, and cooperation among its members. The International Day of Parliamentarism is a time to review the progress that parliaments have made in achieving some key goals to be more representative and move with the times, including carrying out self-assessments, working to include more women and young MPs, and adapting to new technologies.

Note: Inter-Parliamentary Union Headquarters: Geneva, Switzerland; Inter-Parliamentary Union President: Saber Hossain Chowdhury; Inter-Parliamentary Union Founded: 1889, Paris, France; Inter-Parliamentary Union Secretary General: Martin Chungong.

 

OTHER UPDATES:

 

SPORTS

 

1. Olympic Champion Sydney McLaughlin breaks own 400m hurdles world record: Olympic gold medallist, Sydney McLaughlin broke her own women’s 400 metres hurdles world record at the U.S. championships in Eugene, Oregon, winning the final in 51.41 seconds. The 22-year-old wrested the lead early and never gave the rest of the field a fighting chance, clinching her spot in the world championships in front of an adoring crowd. Britton Wilson finished 1.67 seconds behind with Shamier Little taking third in 53.92. Sydney previously set the record with a 51.90-seconds performance at the U.S. Olympic trials a year ago, only to shatter that figure in Tokyo, collecting gold in 51.46.

 

2. IWF chooses Mohammed Jalood as President: Mohammed Jalood has been elected as the organization’s president, and 11 additional new members have been added to its Executive Board, according to a press release from Tirana, Albania, which hosted both the Special & Electoral Congress and the recently concluded European Weightlifting Championships.

Key Points:

a)      The 12 new members of the Executive Board constitute a 66 percent change in staffing overall, despite the IWF’s emphasis on the necessity of maintaining “seasoned leadership” during this transitional phase. The minimum quota for women was “significantly exceeded,” and three Athlete Representatives were appointed with full voting privileges.

b)      Quinones was inadvertently named general secretary as a result of a voting mistake in Tirana. Quinones, who has indicated interest in the IWF holding a recount, may have been chosen inadvertently as the winner due to a rounding error in the vote-counting process.

 

BUSINESS AND ECONOMY

 

1. Mukesh Ambani Resigns, Akash Ambani is New Jio Chairman: Mukesh Ambani’s eldest son Akash Ambani will take over as chairman of Jio Infocomm’s board, the digital division of Reliance industries, in what is viewed as the 65-year-old billionaire’s succession planning. Mukesh Ambani has resigned as the company director effective from 27 June. Pankaj Mohan Pawar was among the other selections made, and his five-year term as managing director began on 27 June. KV Chowdary and Raminder Singh Gujral were named independent directors.

Mukesh Ambani will continue to serve as chairman and managing director of Reliance Industries Ltd (RIL) and as the chairman of Jio Platforms Ltd, the parent firm of all Jio digital services brands, including Reliance Jio Infocomm. Broadly, Reliance operates under three main business segments, petrochemicals and oil refining, retail, and digital services, which includes telecom.

 

2. Zomato acquired Blinkit for Rs 4,447 crore in all-stock deal: Zomato (Online food delivery platform) has announced the acquisition of Blink Commerce (Blinkit), earlier known as Grofers India. The company’s Board of Directors approved a proposal to acquire cash-strapped quick commerce company Blinkit for Rs 4,447 crore. Last year, Zomato extended USD 50 million loans to Grofers India Private Limited. Zomato already owned more than a 9 percent stake in Blinkit (earlier Grofers). While the earlier Blinkit deal value was around $700 million, the drop in Zomato’s share price reduced it to $568 million.

About the Blinkit: Blinkit is a quick commerce marketplace delivering groceries and other essentials to customers within minutes (an average delivery time of 15 minutes in the month of May). Blinkit was rebranded from Grofers after a pivot to quick commerce last year. Their erstwhile business model was next-day grocery delivery.

Note: Zomato Founded: July 2008; Zomato Founders: Deepinder Goyal; Pankaj Chaddah; Zomato Headquarters: Gurgaon, Haryana

 

3. Acemoney launched new wearable ATM cards and Offline UPI: Acemoney has launched UPI 123Pay payment and wearable ATM cards. The UPI 123Pay payment allows people to carry out cashless transactions without smartphones or internet connections using feature phones. The wearable ATM cards are gadgets designed as key chains and rings that enable people to carry out cashless transactions without ATM cards and phones.

The wearable ATM cards functions using applications connected to smart phones. Therefore, it can be switched on or off as per the requirement of the customer. Acemoney is the first company in India to launch UPI 123Pay services in Malayalam and Tamil. The Reserve Bank of India had launched UPI 123Pay in March this year. The wearable ATM cards functions using applications connected to smart phones. Therefore, it can be switched on or off as per the requirement of the customer.

 

AWARDS AND HONOURS

 

1. Global Airwards Best Drone Organization Award wins by IG Drones: The Delhi-based leading Drone enterprise platform company IG Drones has been felicitated with the “Best Drone Organization – Start-up Category” by Airwards. IG Drones has been selected for the award for its approach of helping local communities and giving access to technology to various stakeholders during natural disasters and calamities.

About the IG Drones: IG Drones is developing new technology-based disaster response and mitigation to increase the efficiency and efficacy of first responders’ aid in emergency response and catastrophe mapping. Using drone and GIS technology, they’ve saved hundreds of thousands of lives throughout national disasters such as the Assam Floods, Amphan Cyclone, Fani Cyclone, and Jajpur Flood in Odisha, Maharashtra Flood, and Uttarakhand CloudBurst.

 

2. Odisha govt bags first prize in National MSME Award 2022: The Micro, Small and Medium Enterprises (MSMEs) Department, Government of Odisha has been awarded first prize in the category “National MSME Award 2022 to States/UTs for outstanding contribution in the promotion and Development of MSME Sector” by virtue of various developmental initiatives taken up for the development of MSMEs. Bihar and Haryana were second and third respectively. Other awardees:

a)      Kalahandi has been awarded third prize in the category “National MSME Award 2022 to Aspirational districts for outstanding contribution in the promotion and Development of MSME Sector” as the sectoral development was in the line of award parameters, according to an official statement issued by the state government.

b)      Similarly, Sumeet Mohanty M/s Saferisk Insurance Brokers Private Limited, Bhubaneswar has been awarded first prize in the category “Award for Service Entrepreneurship – Service Small Enterprise (Overall)”.

c)       In addition, Sibabrata Rout M/s Amarnath Pest Management Technology, Cuttack has also been awarded third prize in the category “Award for Service Entrepreneurship – Service Micro Enterprise (Overall)”.

 

3. Utama won the Transylvania Trophy at the 21st TIFF Edition: The winners of the 21st edition of the Transilvania International Film Festival were applauded  at the Awards Ceremony, organised in the Unirii Square in Cluj-Napoca. Utama, the debut film of director Alejandro Loayza Grisi, was chosen as this year’s big winner and awarded the 10,000 euro Transylvania Trophy. The Bolivian production also won over the TIFF audience, and was also awarded the Audience Award of 2,000 euro by MasterCard, as voted by the filmgoers at the Festival.

Other Awardees:

a)      Best Director Award went to filmmaker Guomundur Arnar Guomundsson, awarded for the “credible, original and brilliant universe” he created in Beautiful Beings.

b)      For their exceptional roles in The Night Belongs to Lovers, actors Laura Müller and Schemci Lauth, were awarded the Best Performance Award by Conceptual Lab by Theo Nissim.

 

OBITUARIES

 

1. Business Tycoon Pallonji Mistry passes away: Renowned business tycoon Pallonji Mistry has passed away at the age of 93. He was the Chairman of the Shapoorji Pallonji Group, one of the largest business firms in India. He was honoured with the Padma Bhushan in 2016 for his contribution in the field of industry and trade. The Shapoorji Pallonji Group is Mumbai-based 156-year-old firm which operates in the construction business in Africa, India, the Middle East and South Asia. Shapoorji Pallonji Group covers six business segments namely engineering and construction, infrastructure, real estate, water, energy and financial services.

 

2. A noted lyricist, Chowallor Krishnakutty passes away: In Kerala, noted lyricist, author and journalist, Chowalloor Krishnankutty passed away at a private Medical College Hospital in Thrissur. He was 86. A former Staff Artist with AIR, Krishnankutty penned over 3000 devotional songs and authored more than 200 books. He retired as an Assistant Editor with the Malayala Manorama daily. Krishnankutty is a recipient of the Kerala Sangeetha Nataka Akademi and Kerala Sahitya Akademi awards, Krishnankutty also served as the vice-chairman of the Kerala Kalamandalam.

Daily GK Update- 29th June, 2022

 

NATIONAL UPDATES:

 

1. Arjun Meghwal presented with the holy Kapilvastu relics brought back from Mongolia: Following a 12-day exhibition at the Batsagaan Temple on the grounds of Gandan Monastery, Mongolia, in honour of Mongolian Buddha Purnima, the four Holy Relics of the Lord Buddha returned to India. The sacred relics were presented to Union Minister Shri Arjun Meghwal in Ghaziabad. Due to high demand from the Mongolian people, the presentation of the holy relics had to be extended by a few days. Key Points:

a)      Thousands of people paid their respects to the revered relics during a 12-day exhibition at the Gandan Monastery, including the President of Mongolia, the Speaker of the Mongolian Parliament, the Foreign Minister, the Minister of Culture, the Minister of Tourism, the Minister of Energy, more than 20 MPs, and High Abbots from more than 100 Monasteries in Mongolia.

b)      On the first day of the exposition, between 18 and 20 thousand devotees prostrated before the Holy Buddha Relics.

c)       On working days, 5–6 thousand devotees on average paid their respects at Gandan Monastery, while 9–10 thousand on closed days. About 18,000 devotees visited Gandan on the final day to pay respects to the sacred relics. The Interior Minister of Culture was present for the rituals on the final day.

d)      The Holy Buddha Relics are often referred to as Kapilvastu Relics since they were found in Bihar in 1898 and are thought to be from the ancient city of Kapilvastu.

 

2. IN-SPACe authorises India’s first set of space start-ups to launch payloads: The Indian Space Promotion and Authorisation Centre (IN-SPACe) has started authorising Indian private firms, marking the beginning of private space sector launches in India. IN-SPACe is an autonomous, single window nodal agency; formed to promote, authorise, monitor and supervise the space activities of non-governmental private entities (NGPEs) in India. Key Points:

a)      Dhruva Space Pvt. Ltd., Hyderabad and Digantara research & technologies Pvt. Ltd. Bengaluru, were authorised by IN-SPACe on June 24 to launch their payloads.

b)      Dhruva Space is a space technology start-up focused on building full-stack space engineering solutions, involved in building application-agnostic satellite platforms.

c)       Digantara research and technologies is engaged in development of end-to-end solutions focused on safe and sustainable space operations through its Space Situational Awareness sensor network, platform and data products.

 

3. IRS Officer Nitin Gupta named as the new chairman of CBDT: IRS officer Nitin Gupta has been appointed as the new Central Board of Direct Taxes (CBDT) chairman. Gupta, an Indian Revenue Service (IRS) officer of the 1986 batch of the Income Tax cadre, is serving as the Member (investigation) in the Board and is scheduled to retire in September next year.

The post of the CBDT chief was being held in an additional capacity by Board member and 1986-batch IRS officer Sangeeta Singh after J B Mohapatra retired on April 30. The CBDT is headed by a Chairman and can have six members who are in the rank of special secretary.

Note: Central Board of Direct Taxes Founded: 1963; Central Board of Direct Taxes Headquarters: New Delhi; Central Board of Direct Taxes Chairman: Nitin Gupta; Central Board of Direct Taxes Minister responsible: Ministry of Finance.

 

4. IRARC’s Avinash Kulkarni to head India Debt Resolution Company: The chief govt of India Resurgence Asset Reconstruction Firm (IRARC), Avinash Kulkarni, has been chosen to head the India Debt Decision Firm (IDRCL). Kulkarni is a (SBI) veteran, having undertaken numerous roles on the public sector behemoth. His engagements on the SBI group have included assignments within the funding banking and advisory arm, Capital Markets.

Kulkarni’s appointment follows another SBI veteran Natarajan Sundar being selected as CEO of the National Asset Reconstruction Company Limited (NARCL) in April. Sundar took over as the CEO at the end of May. Both appointments now mean that the key executive leadership to run the government-backed ARC is in place.

 

5. Biography of George Fernandes to hit stands next month: A new biography of one of India’s most firebrand union leaders and former Central minister George Fernandes will trace his journey from the streets of Bombay to the corridors of power in Delhi, announced the Penguin Random House India (PRHI). “The Life and Times of George Fernandes”, written by Rahul Ramagundam, will be released under Penguin’s ‘Allen Lane’ imprint on July 25.

 

6. National Statistics Day: 29th June: National Statistics Day is observed in India on June 29 each year. The day aims to raise public awareness of the value of statistics in everyday life as well as in the planning and development process. The celebrated statistician, Professor Prasanta Chandra Mahalanobis, is recognised on National Statistics Day for his contributions to economic planning and statistics. Additionally, the Indian Statistical Institute’s founder, Professor PC Mahalanobis, celebrates his birthday on 29 June. The theme of National Statistics Day 2022 is ‘Data for Sustainable Development‘.

National Statistics Day History: It was initially observed on June 29, 2007, to honour Professor Mahalanobis’ exceptional contributions to statistical research and economic planning. It was decided to designate his birthday as National Statistics Day. On June 5th, 2007, the Indian Gazette initially published a notification about this.

 

INTERNATIONAL UPDATES:

 

1. Togo and Gabon become Commonwealth Association members: The Commonwealth of Nations now has 56 member nations after the admission of Togo and Gabon. The two historically French-speaking nations were formally admitted to the union at the Commonwealth Heads of Government Meeting, which was presided over by Rwandan President Paul Kagame in Kigali, the country’s capital. According to Patricia Scotland, the organization’s secretary-general, admission is determined by evaluations of a number of standards, including the democratic process, effective leadership, and rule of law. Key Points:

a)      The choice was taken following the heads of state and government’s consultation at the meeting.

b)      According to Togo’s Foreign Minister Robert Dussey, the goal of the country’s membership in the Commonwealth is to broaden its network of diplomatic, political, and commercial relations.

c)       According to Michael Moussa Adamo, the foreign minister of Gabon, joining would strengthen economic diversification while retaining ties with France. President Ali Bongo of Gabon thinks modernization is a goal of joining the Commonwealth.

d)      While Togo, a country in West Africa, began the process of legally entering the Commonwealth in 2014, the Central African nation’s formal application procedure began five years earlier.

Note: Commonwealth Association Secretary-General: Patricia Scotland

President of Rwanda: Paul Kagame; President of Gabon: Ali Bongo; President of Togo: Faure Gnassingbé

 

2. Garuda Aerospace, an Indian drone startup to establish a facility in Malaysia: Garuda Aerospace Pvt. Ltd., an integrated drone manufacturer and drone-as-a-service (DAAS) provider based in India, would invest Rs 115 crore in the construction of a production facility in Malaysia. The decision is made to establish a drone manufacturing plant in Malaysia, with a daily production capacity of around 50 drones. The components would be imported from India and other nations. Key Points:

a)      The city-based business has partnered with HiiLSE Global Sdn Bhd (HiiLSE Drones), a Malaysian drone start-up.

b)      This alliance will establish a drone ecosystem with cutting-edge artificial intelligence, machine learning, and deep learning technology.

c)       The partnership is not a joint venture in which the equity capital is shared by two entities. The Malaysian firm will make it possible for Garuda Aerospace to establish the factory and other commercial opportunities.

d)      Garuda Aerospace would conclude in July after raising USD 30 million.

Note: Garuda Aerospace’s founder and CEO: Agnishwar Jayaprakash

 

3. International Day of the Tropics: 29th June: International Day of the Tropics is observed globally on 29 June. The International Day of the Tropics celebrates the extraordinary diversity of the tropics while highlighting unique challenges and opportunities nations of the Tropics face. It provides an opportunity to take stock of progress across the tropics, to share tropical stories and expertise and to acknowledge the diversity and potential of the region.

International Day of the Tropics History: The inaugural State of the Tropics Report was launched on 29 June 2014, as the culmination of a collaboration between twelve leading tropical research institutions. The report offers a unique perspective on this increasingly important region. Marking the anniversary of the report’s launch the United Nations General Assembly adopted resolution A/RES/70/267 in 2016, which declared that 29 June of each year is to be observed as the International Day of the Tropics.

 

OTHER UPDATES:

 

SPORTS

 

1. Navjeet Dhillon wins gold medal in discus throw at Qosanov Memorial 2022: Indian women’s discus thrower, Navjeet Dhillon won the gold medal at the Qosanov Memorial 2022 athletics meet in Almaty, Kazakhstan. Navjeet Dhillon, who is looking to seal her place in the Indian team for Commonwealth Games, won the women’s discus throw with a 56.24m effort. Local athlete Karina Vasilyeva with 44.61m and Uzbekistan’s Yulianna Shchukina with 40.48m followed Navjeet Dhillon on the podium.

Overall India won 14 medals on the day, including seven golds. Tokyo Olympian Dhanalakshmi Sekar will also be among the top Indian athletes competing today at the Qosanov Memorial 2022 athletics, which is a World Athletics bronze-level event.

 

2. Dhanalakshmi becomes 3rd fastest Indian woman in 200m: Ace sprinter Sekar Dhanalakshmi ran her personal best time to win 200m gold at the Qosanov Memorial Athletics. Dhanalakshmi ran a creditable sub-23 second, clocking 22.89s to better her earlier personal best of 23.14s she had come up last year. Dhanalakshmi is only the third Indian woman to run sub-23s after national record holder Saraswati Saha (22.82s) and Hima Das (22.88s).

Dhanalakshmi had won a 200m gold in the national Inter-Sate Championships in Chennai earlier this month with a time of 23.27s. She missed the automatic qualification mark of 22.80s for World Championships (July 15 to 24) in Oregon, USA, but will have to see if she can make it to the showpiece through world ranking quota.

 

BUSINESS AND ECONOMY

 

1. Tata Power commissions India’s largest floating solar power project: Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power, has accomplished a remarkable feat by commissioning India’s largest floating solar power project in Kayamkulam, Kerala. On a 350-acre water body, backwaters area, having an installed capacity of 101.6 Megawatt Peak. Tata Power Solar successfully built a scaffolding platform on the water body to make the entire solar plant float on water. About the project:

a)      This project is the first one in the Floating Solar Photovoltaic (FSPV) through Power Purchase Agreement category. This plant boasts a floating inverter platform having a 5 Megawatt (MW) capacity.

b)      The entire array involving floats and solar panel modules had to be towed for 3 kilometers on a sea-linked National waterway, which was 15 meters deep, exposing the solar modules to high winds and gushing tides often reaching a height of about 3.5 meters.

c)       To operationalize the project, Tata Power Solar ‘s execution team was successfully able to synchronize the 33/220 Kilovolts Air Insulated Substation (AIS) with 220 Kilovolts existing Gas Insulated Substation (GIS).

Note: Tata Power Solar Systems Headquarters: Mumbai; Tata Power Solar Systems Founded: 1989.

 

2. Bharat Electronics signed an MoU with Belarusian Company for supply of Airborne Defence Suite: Bharat Electronics Limited (BEL) has signed a Memorandum of Understanding (MoU) with Defense Initiatives (DI), Belarus, and Defense Initiatives Aero Pvt Ltd, India (a subsidiary of DI Belarus). The MoU is signed to build cooperation amongst the three companies for the supply of Airborne Defense Suite (ADS) for Indian Air Force’s helicopters.

ADS is used for providing protection to helicopters. BEL will be the prime contractor and will be supported by DI with manufacturing and maintenance for the supply of advanced Electronic Warfare (EW) suites for helicopters under the ‘Make in India’ category. The MoU also aims to explore various business opportunities for India and global markets for ADS. The partnership has evolved under the guidance of Sanjay Jaju, Additional Secretary, Department of Defence Production, and Indo Belarusian Joint Commission (IBJC) on Military Cooperation.

Note: Bharat Electronics Limited Founded: 1954; Bharat Electronics Limited Headquarters: Bengaluru; Bharat Electronics Limited Chairman & Managing Director: Anandi Ramalingam; Bharat Electronics Limited Executive Director: Vinay Kumar Katyal.

 

AWARDS AND HONOURS

 

1. S M Krishna, Narayana Murthy, Prakash Padukone selected for ‘Kempegowda International Award’: Former Karnataka chief minister S M Krishna, Infosys founder and IT industry veteran N R Narayana Murthy, and former badminton player Prakash Padukone, have been selected for the ‘Kempegowda International Award’, which has been instituted beginning this year.

About the award:

a)      The award carries a cash prize of Rs 5 lakh along with a plaque. Narayan met Krishna at his residence today on behalf of the government and informed him about the award being bestowed upon him.

b)      The government had constituted a committee headed by Start-up Vision Group head Prashanth Prakash to nominate candidates for the award.

c)       Chairman of Manipal Global Education and businessman T.V. Mohandas Pai, Vivekananda Youth Movement founder R. Balasubramaniam, and retired IAS officer M.K. Shankarlinge Gowda are members of the committee. Kempe Gowda Heritage Area Development Authority Commissioner R. Vinaydeep is member-secretary of the committee.

 

2. Khushi Patel from UK is crowned Miss India Worldwide 2022: The winner of the longest-running Indian beauty pageant outside of India, Miss India Worldwide 2022, was announced as British biomedical student Khushi Patel. Shrutika Mane was named the second runner up, and Vaidehi Dongre from the US was named the first runner up. The top 12 competitors at the pageant were the champions of other international competitions.

Guyana’s Roshani Razack was named Miss Teen India Worldwide 2022. The first runner up was Navya Paingol from the US, while the second runner up was Chiquita Malaha from Suriname, according to the India Festival Committee (IFC), which has been running the competition for the past 29 years.

 

3. Vijay Amritraj honoured with Golden Achievement Award by ITF: Indian tennis great, Vijay Amritraj has been named the 2021 recipient of the Golden Achievement Award by the International Tennis Hall of Fame and International Tennis Federation. In recognition of his outstanding impact on tennis as a player, promoter, and humanitarian, Amritraj was honoured in London. He is first recipient from India and he joins an esteemed list of tennis leaders who have received the honour, including Brian Tobin of Australia, Eiichi Kawatei of Japan, and Peachy Kellmeyer of the United States.

About the award: The Golden Achievement Award is selected from a pool of nominations submitted by tennis federations and individuals from the around the world. The annual honouree is selected by the Golden Achievement Award Committee, which is comprised of tennis administrators.

Note: International Tennis Federation Headquarters: London, United Kingdom; International Tennis Federation Founded: 1 March 1913; International Tennis Federation President: David Haggerty.

Daily GK Update- 28th June, 2022

NATIONAL UPDATES:

 

1. Kerala Govt to roll out “MEDISEP” scheme for State Government: Kerala state government has issued orders regarding the implementation of a medical insurance “MEDISEP” scheme for government employees and pensioners and the deduction of premium from the salary of June 2022 and pension of July 2022. MEDISEP scheme is applicable to government employees, pensioners/family pensioners and their eligible family members and employees and pensioners of universities that receive grant in aid from the state government and the local self-government institutions. About the scheme:

a)      The scheme provides cashless medical assistance through an insurance company selected through the competitive bidding process. As per the scheme, the premium on behalf of the employees and pensioners towards MEDISEP shall be paid by the government in advance and will be recouped from the salary of employees and pensioners.

b)      The annual premium of the employees and the pensioners will be Rs 4,800 + 18% GST for the policy period of 2022-24, and the monthly premium of Rs 500 would be deducted from the salary/pension. The scheme is applicable to universities and local self-government institutions as well.

c)       The scheme is also applicable to directly recruited personal staff of the chief minister, ministers, opposition leader, the chief whip, Speaker, deputy speaker and chairman of the financial committees.

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

 

2. Four-day Ambubachi Mela at the Kamakhya Temple in Guwahati: Devotees were finally permitted to take part in the annual Ambubachi Mela at Assam’s renowned Kamakhya Temple after a two-year absence. The head priest of Maa Kamakhya Devalaya, or “Bor Doloi,” Kabinath Sarma, explained that the “Pravritti” was used to symbolically close the temple doors for four days as part of the rites. The door will be unlocked or Nivriti in the morning of the first day.

About Ambubachi Mela: An annual Hindu festival known as the Ambubachi Mela takes place at the Kamakhya Temple in Guwahati, Assam. This annual festival is held in the middle of June, when the Brahmaputra River is at its highest flow, during the monsoon season, which also happens to fall within the Assamese month of Ahaar.

 

3. Shyam Saran, Former Foreign Secretary chosen to lead India International Centre: India International Centre’s President is now former foreign secretary and Prime Minister’s Special Envoy for Nuclear Affairs and Climate Change Shyam Saran. After leaving the administration in 2010, he served as chairman of the National Security Advisory Board under the National Security Council and served as the director of the Research and Information System for Developing Countries, a renowned think tank specialising in economic issues, from 2011 to 2017. (2013-15). About Shyam Sharan:

 

4. Samant Kumar Goel re-appointed as Chief of RAW: Samant Kumar Goel’s contract as secretary of the intelligence agency’s Research and Analysis Wing (RAW) was extended by the Centre on June 24 by another year. Goel is an IPS officer from the Punjab cadre class of 1984 and will hold the position of agency secretary through June 30, 2023. In June 2019, Samant Kumar Goel succeeded Anil Dhasmana as the Chief of RAW.

About the RAW: The RAW is an external intelligence organisation that monitors dangers from abroad. RAW collects secret information about the activities of neighbouring countries. RAW has been placed directly under the Indian Prime Minister’s office. RAW has its own service cadre known as the Research and Analysis Service (RAS).

Note: RAW Formed: 21 September 1968; RAW Headquarters: New Delhi; RAW Founders: R. N. Kao & Indira Gandhi.

 

5. National Insurance Awareness Day: 28th June: The National Insurance Awareness Day is observed on 28 June. The main objective of the day is to make people aware about the several benefits of investing in an insurance plan or policy. Insurance policies offer financial cover in case of unfortunate happenings such as injury, accident or losses in business, among others, if one remembers to pay their premium regularly.

National Insurance Awareness Day History: Nicholas Barbon, an English economist, physician, and financial speculator set up the first fire insurance company in 1666 CE. He came up with this idea after a huge fire in London destroyed the city. After that, Barbon was successful in forming the first actual insurance company known as The Insurance Office, which was located in a small building behind London’s Royal Exchange.

 

INTERNATIONAL UPDATES:

 

1. UN Ocean Conference 2022: Dr. Jitendra Singh to go to Lisbon: Dr. Jitendra Singh, Minister of State for the Government of India, left for Portugal to attend the Lisbon UN Ocean Conference, 2022. On the topic of Scaling up Ocean Action based on Science and Innovation for the implementation of Goal 14: Stock taking, Partnerships and Solutions, he will give the conference’s keynote presentation. The Conference will have participants from more than 130 nations. Key Points:

a)      Dr. Singh declared in his final remarks that, under the direction of Prime Minister Narendra Modi, India would offer collaborative solutions based on science and innovation for the realisation of Goal 14.

b)      In order to close the methodology and data gaps on SDG indicators, he claimed that India has well-established engagement and partnerships with UN agencies and research institutions.

c)       India is advancing the UN Decade of Ocean Science for Sustainable Development, 2021–2030, according to the Minister, in order to create an ocean that is clear, healthy, productive, predictable, safe, and accessible.

d)      At the conclusion of the Conference, the leaders will also reiterate the statement titled Our ocean, our future: call for action.

e)      The high-level United Nations Conference to Support the Implementation of Sustainable Development Goal 14 endorsed the declaration.

 

2. Global Liveability Index 2022 released: The annual ranking of the world’s most liveable cities has just been released by the Economist Intelligence Unit (EIU), and 2022’s Global Liveability Index shows some marked differences from the previous year. The EIU, which is a sister organization to The Economist, ranked 173 cities around the world on a variety of factors, including health care, crime rates, political stability, infrastructure and access to green space.

 

2022’s Global Liveability Index top 10		10 Least Liveable Cities around the World
Vienna, Austria		Tehran, Iran
Copenhagen, Denmark		Douala, Cameroon
Zurich, Switzerland		Harare, Zimbabwe
Calgary, Canada		Dhaka, Bangladesh
Vancouver, Canada		Port Moresby, PNG
Geneva, Switzerland		Karachi, Pakistan
Frankfurt, Germany		Algiers, Algeria
Toronto, Canada		Tripoli, Libya
Amsterdam, Netherlands		Lagos, Nigeria
Osaka, Japan and Melbourne, Australia (tie)		Damascus, Syria

 

Key Points:

a)      Hong Kong had the dubious honor of coming in first place, with New York City, Geneva, London and Tokyo rounding out the top five in Liveability versus cost of living.

b)      The cities in India have fared poorly in the list of the world’s most liveable cities. India’s national capital New Delhi has been ranked 112th in the list of most liveable cities. While India’s financial capital Mumbai is ranked at 117th position.

c)       The Pakistani city of Karachi and Bangladesh capital Dhaka are among the least liveable cities in the world.

d)      Ukrainian capital, Kyiv, has not made it to the list after Russia invaded the country in February 2022. While, the ranking of Russian cities like Moscow and St Petersburg also fell over ‘censorship’ and western sanctions on the country.

Note: Economist Intelligence Unit Headquarters: London, United Kingdom; Economist Intelligence Unit Founded: 1946; Economist Intelligence Unit Managing Director: Robin Bew.

 

3. Largest bacteria in the world discovered in Caribbean mangrove swamp: In a Caribbean mangrove swamp, researchers found the largest bacterium known to science. While the majority of bacteria are tiny, this one is so large that it can be seen with the unaided eye. It is by far the largest bacterium known to date, according to Jean-Marie Volland, a marine biologist at the Lawrence Berkeley National Laboratory and a co-author of a paper reporting the finding in the journal Science. The thin white thread is about the size of a human eyelash.

The cell has a shape that is unusual for bacteria, according to the researchers, but they have not yet been able to develop it in lab culture. One significant distinction is that it includes a sizable central compartment, or vacuole, which enables some cell functions to take place there rather than all across the cell.

 

OTHER UPDATES:

 

SPORTS

 

1. Ranji Trophy 2022: Madhya Pradesh beats Mumbai by six wickets: Madhya Pradesh wrote history as they won their maiden Ranji Trophy title, beating tournament heavyweights Mumbai by 6 wickets in the final at the M.Chinnaswamy Stadium in Bengaluru. Under the leadership of Aditya Shrivastava, the team defeated 41-time champions Mumbai. The team was coached by former India wicketkeeper-batsman Chandrakant Pandit.

Mumbai batter Sarfaraz Khan was crowned as the ‘Man of the Tournament for his brilliant Ranji Trophy 2022 with the bat, which saw him score 982 runs at an average of 122.75, finishing at the top of the batting charts. Other top bowlers of The 2022 Ranji Trophy are spinner Shahbaz Nadeem of Jharkhand (25 wickets).

 

2. Anil Khanna named as the acting President of IOA: Anil Khanna has been appointed the acting President of Indian Olympic Association (IOA). The Delhi High Court has ordered that Narinder Dhruv Batra cannot continue as the President of the IOA and appointed Anil Khanna as acting president. Veteran sports administrator Narinder Batra was ordered to stop functioning as Indian Olympic Association (IOA) president by the Delhi High Court “in a contempt proceeding”, a month after it asked him to relinquish the top job. A vacation bench of Justice Dinesh Sharma passed the order on a contempt petition filed by Olympian and hockey World Cup winner Aslam Sher Khan. On May 25, Batra was removed as IOA chief after the Delhi High Court struck down the post of ‘life member’ in Hockey India, courtesy which he had contested and won the apex body elections back in 2017. At that time also, the IOA had installed Khanna as its acting chief.

 

BANKING AND FINANCE

 

1. Mufin Finance get Prepaid Payment Instrument licence from RBI: One of the top NBFCs, Mufin Finance, has received preliminary authorisation from the RBI to issue semi-closed prepaid payment instruments. Digital banks, fintech companies, and major consumer-facing applications are able to introduce features like digital payment solutions for lending thanks to a semi-closed PPI licence. Following well-known companies like Bajaj Finserve, Manapurram, and Paul Merchants, Mufin Finance is the fourth NBFC to get a similar licence from the RBI.

Key Points:

a)      The company is currently putting the groundwork in place for the launch of MufinPay, a digital payment solution that will support its lending operation.

b)      Mufin Finance, which was founded in 2016, wants to use the MufinPay platform to better service its 50,000+ customers and bring on new users.

c)       Digital wallets, smart cards, magnetic chips, and vouchers are all examples of PPI. PPI serves as a store of value that may be used to purchase products and services as well as transfer money.

d)      PPIs come in the shape of gift cards, payment wallets, smart cards, and vouchers. Debit cards, on the other hand, can only be issued to banks and require an open PPI licence.

e)      Last August, the RBI approved expanded PPI usage, including cash withdrawal of fully KYC PPI. Recent limits on lending through non-bank PPIs were put in place by the RBI.

 

2. RBI approves SBI’s establishment of operations support subsidiary: The Reserve Bank of India has given the State Bank of India preliminary approval for its proposed operations support subsidiary, which aims to reduce the cost-to-income ratio. Before introducing the new subsidiary across India, the bank will soon begin a pilot programme in a select areas. Dinesh Kumar Khara, the chairman of SBI, said that a subsidiary for operations assistance is being established. It aims to allay the worry over the cost to income ratio. They already have RBI‘s in-principle permission, and we’ll be starting a trial programme soon. Key Points:

a)      Khara stated that the subsidiary will allow the lender to utilise its expensive labour for more beneficial services in an interview.

b)      SBI‘s cost to income ratio increased by 240 basis points from FY19 levels to 53.3% in FY22.

c)       In contrast, the top three private banks have cost to income ratios that are between 35 and 40% lower than SBI‘s. Therefore, the subsidiary designed to increase operational effectiveness can eventually aid India’s largest bank in significantly increasing its profitability.

d)      SBI‘s net interest margin for FY22 was 3.15 percent, whereas the average for commercial banks in FY22 was over 4 percent.

 

BUSINESS AND ECONOMY

 

1. NSE and BSE approve the merger of PVR-INOX: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have approved the merger of multiplex chain PVR and Inox Leisure. According to their separate exchange filings, PVR and Inox Leisure received observation letters from the BSE on June 20 and 21 with “no unfavourable observations” and “no objection,” respectively. According to the documents, the Competition Commission of India must provide the necessary regulatory licences before the merging plan can forward (CCI).

Key Points:

a)      In March of this year, the boards of directors of PVR and INOX authorized the merger of the two multiplex companies. If the merger goes through, Ajay Bijli will take over as managing director and Pavan Kumar Jain would be named non-executive chairman of the board.

b)      In the amalgamated entity, Siddharth Jain will be appointed as a non-executive non-independent director in addition to Sanjeev Kumar’s appointment as executive director.

c)       The proposed merger would be in the best interest of the transferee business, the transferor firm, and each of their respective shareholders, workers, creditors, and other stakeholders, according to PVR’s exchange filing.

About the Merger:

a)      Following the merger, INOX promoters will own 16.66% of the combined firm, while PVR promoters will own 10.62%. Promoter families will have equal participation on the board with two seats each, and the board of directors of the combined firm will be reconstituted with a total of 10 members.

b)      Three PVR shares will be exchanged for ten INOX shares under the share exchange ratio.

c)       The merged firm would run 1,546 screens over 341 buildings in 109 cities, making it the largest movie theatre chain in India. At the moment, PVR runs 871 screens 181 properties in 73 cities, whereas INOX runs 675 screens 160 properties in 72 cities.

 

OBITUARIES

 

1. Father of Indian PSUs Dr V Krishnamurthy passes away: Dr V Krishnamurthy, former chairman of public sector undertakings such as Bharat Heavy Electricals Limited (BHEL), Steel Authority of India (SAIL) and Maruti Udyog (now Maruti Suzuki), passed away. He served as Secretary of Industries for the Government of India, Member of the Planning Commission, and many other Prime Minister’s Committees. He was conferred Padma Shri, Padma Bhushan and Padma Vibhushan for his services.

Born in Karuveli in Tiruvarur district in Tamil Nadu, Dr Krishnamurthy started his career as a technician on the airfields during World War II. He has held positions as the Chairman of IIM Ahmedabad, Bangalore; IIT Delhi and the Xavier Institute of Management, Bhubaneswar, and Chancellor of the Central University of Tamil Nadu and Indian Maritime University. He is widely regarded as the ‘Father of Public Sector Undertakings’ and a mentor to prominent figures in business.