Daily GK Update- 9th July, 2022

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NATIONAL UPDATES:

 

1. PM to start three-day symposium on implementing the NEP: During his visit to Varanasi, his Lok Sabha district, Prime Minister Narendra Modi is anticipated to launch development projects worth more than Rs. 1,774 crore. He has been to the city twice in the last four months. Nine topics designated for higher education in the National Education Policy 2020 will be the subject of panel discussions. Modi will also inaugurate the Akhil Bharatiya Shiksha Samagam, which is being organised by the Union Education Ministry at the international cooperation and convention centre Rudraksh. Modi last visited Varanasi in March for a roadshow in preparation for the upcoming assembly elections in Uttar Pradesh. Key Points:

a)      The acceptance of the Varanasi Declaration on Higher Education is the focal point of the three-day summit. More than 300 academic, administrative, and institutional officials from universities and other important national institutions across the nation are participating in the event as part of a capacity-building initiative.

b)      There will be panel discussions on the nine themes of multidisciplinary and holistic education, skill development and employability, research, innovation, and entrepreneurship, capacity building of teachers for quality education, quality, ranking, and accreditation, digital empowerment and online education, equitable and inclusive education, the Indian knowledge system, and internationalisation of higher education that have been identified for higher education under the National Education Policy 2020.

c)       Top academics and education experts from around the nation will meet for a three-day conference, according to University Grants Commission (UGC) chairperson M Jagadesh Kumar. At a news conference held at Banaras Hindu University, he stated, “The subjects to be discussed include making the Indian educational system more egalitarian and accessible to all, internationalisation of Indian education, and popularising and promoting old Indian knowledge” (BHU).

 

2. “HariyaliMahotsav” to be organized by Ministry of Environment: Ministry of Environment, Forest & Climate Change organized “Hariyali Mahotsav” on 8th July, 2022 at Talkatora Stadium, New Delhi in the spirit of “Azadi Ka Amrit Mahotsav”. The mahotsav is being organized by Ministry of Environment, Forest and Climate Change in collaboration with the State Governments, Police Institutions and Schools of Delhi for undertaking plantation drives on the occasion. Ceremonial Plantation drives are being organized with participation of 75 Nagar Vans throughout the country, 75 Police Stations and 75 Schools in Delhi/NCR and 75 degraded plantation sites in the different states as part of this Mahotsav. About the Hariyali Mahotsav:

a)      Hariyali Mahotsav, the “Tree Festival” is being organized to create awareness about the importance of trees in sustaining not only the life of the present generations but also to secure the future of forthcoming generations. Trees play extremely important role in mitigating adverse effects of climate change.

b)      This Mahotsav is perceived as an effective tool to instill enthusiasm among masses for forest conservation and planting trees. It holds immense importance in complementing the policy and program initiatives of the government towards environmental conservation. Hariyali Mahotsav is celebrated across the country in recognition of the crucial role of Forest/Greenery in maintaining the ecological balance and providing many ecosystem services to the planet.

 

3. India’s first autonomous navigation facility “TiHAN” launched at IIT Hyderabad: India’s first Autonomous Navigation facility, TiHAN inaugurated by Union Minister of State for Science & Technology, Jitendra Singh at the IIT Hyderabad campus. Developed at a budget of Rs. 130 crores by the Union Ministry of Science & Technology, TiHAN (Technology Innovation Hub on Autonomous Navigation) is a multidisciplinary initiative that will make India a global player in the futuristic and next generation ‘smart mobility’ technology.

India’s mobility sector is one of the world’s largest markets and the TiHAN – IITH will be the source of futuristic technology generation for autonomous vehicles. TiHAN Testbed will provide a unique platform for high quality research between academia, industry and R&D labs both at the national and international level, thus making India a global leader in autonomous navigation technologies.

 

4. Suranjan Das named as the new president of AIU: The Jadavpur University Vice-Chancellor, Suranjan Das was appointed as the president of the Association of Indian Universities (AIU). His tenure as president will be for one year from July 1. Das said he will take up the issue of executing the new education policy’s (NEP) salient features, raising central funding for state varsities involved in important research activities, and work on taking the standards of Indian universities to global levels. Das, an eminent historian, was appointed the vice-president of AIU a year ago.

Note: Association of Indian Universities Secretary General: Dr. (Mrs.) Pankaj Mittal; Association of Indian Universities Formation: 1925 as Inter-University Board.

 

5. A new book titled ‘Getting the Bread: The Gen-Z Way to Success’ by Prarthna Batra: Young YouTuber Prarthna Batra’s debut book ‘Getting the Bread: The Gen-Z Way to Success’ launched by sporting icon Sakshi Malik. In Getting the Bread: The Gen-Z Way to Success, Prarthna Batra shares her worldview as well as her experiences of interviewing eminent leaders, entrepreneurs, and media personalities for her popular YouTube channel.

Essence of the book: This book gives young millennial readers valuable insights about following their dreams and becoming successful in a competitive world without losing touch with their humanity.Well-researched, smart, and extremely readable, Getting the Bread: The Gen-Z Way to Success redefines success for the youth of today.

 

INTERNATIONAL UPDATES:

 

1. Amitabh Kant, former CEO of NITI Aayog, to serve as new G-20 Sherpa: The former CEO of Niti Aayog, Amitabh Kant, will take on the role of G-20 Sherpa. Piyush Goyal, a Union Minister, would be replaced by Kant because he is expected to resign owing to workload. Later this year, India will preside over the G-20. It should be highlighted that the nation requires a full-time G-20 Sherpa, which Goyal is unlikely to provide as he already holds a number of cabinet positions. Goyal has served as the nation’s G-20 Sherpa since September 7, 2021.

The G20 Foreign Ministers’ Meeting (FMM) will get underway in Bali. The gathering will be viewed as a strategic forum to talk about international recovery initiatives. Ministers will debate enhancing multilateralism in the first session, while the food and energy crises will be tackled in the second session.

 

2. India gets elected to UNESCO panel on Intangible Cultural Heritage for 2022-2026 cycle: India has been elected a member of the Intergovernmental Committee of UNESCO’s 2003 Convention for the Safeguarding of the Intangible Cultural Heritage for the 2022-2026 cycle. In a series of tweets, Culture Minister GK Reddy said this is yet another opportunity for India to reinstate the values of 'Vasudhaiva Kutumbakam'. The elections for the Intergovernmental Committee took place during the two-day General Assembly of the 2003 Convention held at UNESCO headquarters in Paris which began on the 5th of July.

 

OTHER UPDATES:

 

SPORTS

 

1. Malaysia Open Badminton Tournament 2022 conclude: The 2022 Malaysia Open (officially known as the Petronas Malaysia Open 2022 for sponsorship reasons) was a badminton tournament that took place at the Axiata Arena, Kuala Lumpur, Malaysia, from 28 June to 3 July 2022 and had a total prize of US $675,000. The 2022 Malaysia Open was the twelfth tournament of the 2022 BWF World Tour and was part of the Malaysia Open championships, which had been held since 1937. This tournament was organized by the Badminton Association of Malaysia with sanction from the BWF.

List of winners:

 

Category	Winner
Men’s singles title	Viktor Axelsen (Denmark)
Women’s singles title	Ratchanok Intanon (Thailand)
Men’s doubles champions	Takuro Hoki / Yugo Kobayashi of Japan
Women’s doubles champions	Apriyani Rahayu and Siti Fadia Silva Ramadhanti of Indonesia
Mixed doubles	China’s Zheng Siwei and Huang Yaqiong

 

BANKING AND FINANCE

 

1. SBI General Insurance launches Cyber VaultEdge insurance plan: SBI General Insurance has launched the Cyber VaultEdge insurance plan, a comprehensive cyber insurance cover for individuals that provides protection against financial losses arising from cyber risks and attacks. Individuals exposed to any form of cyber risks can buy this policy for themselves and their family. Family includes self, spouse, and 2 dependent children (up to 18 years of age).

About the Cyber VaultEdge insurance policy:

a)      Some of the major inclusions of the policy includes theft of Funds, Identity Theft, Cyber Bullying, Cyber Stalking and Loss of Reputation, Cyber Shopping, Online shopping, Social Media and Media Liability, Network Security Liability, Privacy Breach and Data Breach Liability, Smart Home Cover amongst others.

b)      Some of the major advantages of buying the cyber insurance policy is protection against cyber risks. The policy takes care of legal costs and expenses incurred in pursuing or defending legal action against/by a third-party. Further, the policy reimburses the expenses incurred for the services of an IT specialist or to restore data.

Note: SBI General Insurance Headquarters location: Mumbai; SBI General Insurance MD & CEO: Paritosh Tripathi; SBI General Insurance Founded: 24 February 2009.

 

BUSINESS AND ECONOMY

 

1. R Dinesh named the Confederation of Indian Industry’s new president: R Dinesh, Executive Vice-Chairman of TVS Supply Chain Solutions, has been chosen as the Confederation of Indian Industry’s (CII) President Designate for the years 2022–2023. He previously served as the Chairman of the National Committees on Logistics, the CII Family Business Network India Chapter Council, the CII Tamil Nadu State Council, and the CII Institute of Logistics Advisory Council. From 2018 to 2019, he served as the Chairman of the CII Southern Region.

Sanjiv Puri, Chairman and Managing Director of ITC, was elected as the Vice-President of CII at a meeting of the CII National Council held in Delhi. For 2022–2023, Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv Ltd., will continue to serve as CII President.

About Confederation of Indian Industry’s (CII): The Confederation of Indian Industry (CII), an advocacy and trade association with its main office in New Delhi, India, was established in 1895. To influence the global, regional, and industrial agendas, CII works with business, governmental, intellectual, and other leaders of society. The organisation is based on membership.

 

DEFENCE

 

1. MoD gives approval to HDFC, ICICI, and Axis to offer finances for international purchases: The Defence ministry gave three private sector banks permission to offer financial support to it for the purchase of military equipment abroad. These banks include ICICI Bank, Axis Bank, and HDFC Bank Ltd. For services like the issuance of letters of credit and direct bank transfers to the ministry for overseas purchase, only authorised public sector banks have been used up until now. Key Points:

a)      The ministry has allotted three private sector banks to supply the LoC and direct bank transfer business for foreign procurement in accordance with the Department of Financial Services‘ further openness of the distribution of government business to private sector banks.

b)      For a period of one year, concurrent LC business in the amount of Rs 2,000 crore may be assigned to the chosen banks on both the capital and revenue sides (Rs 666 crore for each bank under both capital as well as Revenue)

c)       Regular monitoring of these banks’ performance will allow for the necessary follow-up action to be taken as needed.

Daily GK Update- 8th July, 2022

NATIONAL UPDATES:

 

1. PT Usha, Ilaiyaraaja among four nominated to Rajya Sabha: The ruling Bharatiya Janata Party (BJP) has nominated four noted personalities from the southern states to the Rajya Sabha. The move is being seen as the BJP’s attempt to make inroads into South India — the party’s final frontier that it still has to conquer. Sports icon PT Usha, music maestro Ilaiyaraaja, spiritual leader Veerendra Heggade, and screenwriter KV Vijayendra Prasad were the four picks of the BJP for the Rajya Sabha. The four Rajya Sabha picks:

a)      PT Usha: Popularly known as the ‘Payyoli Express’, PT Usha is one of India’s most iconic sportspersons. She has represented the country and won medals at various international sporting events, including the World Junior Invitational Meet, Asia Championships, and Asian Games. She is a recipient of the Arjuna award and the Padma Shri.

b)      Ilaiyaraaja: Born in a Dalit household in a village in the Madurai district of Tamil Nadu, Ilaiyaraaja is regarded as one of India’s greatest music composers. In a career spanning more than five decades, he has composed over 7,000 songs for more than 1000 movies and performed in more than 20,000 concerts across the globe. In 2018, he received the Padma Vibhushan. He has also been awarded the Padma Bhushan.

c)       Veerendra Heggade: Veerendra Heggade has served as the Dharmadhikari of the Dharmasthala Temple in Karnataka since the age of 20. He has been a devoted philanthropist for more than five decades. He has led various transformative initiatives for rural development and the promotion of self-employment.

d)      KV Vijayendra Prasad: Born in Kovvur in Andhra Pradesh, KV Vijayendra Prasad has written the story for many prominent Telugu and Hindi movies. He is the father of SS Rajamouli, one of the country’s most famous film directors.

 

2. Smriti Irani, Jyotiraditya Scindia get additional charges of Minority Affairs, Ministry of Steel: Union Ministers Smriti Irani and Jyotiraditya Scindia have been assigned additional charges of Minority Affairs and Ministry of Steel respectively after two Union Ministers Mukhtar Abbas Naqvi and Ram Chandra Prasad Singh resigned from the Union Council of Ministers, with immediate effect. Post their resignations, the President of India Ram Nath Kovind, as advised by PM Modi, accepted the resignations of Mukhtar Abbas Naqvi and Ram Chandra Prasad Singh from Union Council of Ministers. This is the first time two sitting ministers are out of both Houses of Parliament.

 

3. Rashtriya Raksha University, DroneAcharya tie up to set Remote Pilot Training Centre: Rashtriya Raksha University at Gandhinagar has signed a Memorandum of Understanding with DroneAcharya Aerial Innovations Private Limited for setting up a Remote Pilot Training Centre for imparting drone flying skills. This training will be imparted to the Police and security force personnel and citizens at RRU Campus near Gandhinagar. According to official sources, this initiative is in accordance with the mission of the University to identify, prepare and sustain statecraft of national strategic and security culture among the security, police and civilian society. Following this MoU, the Rashtriya Raksha University will set up a Remote Pilot Training Centre under the Public-Private Partnership model. The training is primarily designed for personnel of Armed Forces, Paramilitary and Police Force, but also offers programmes for citizens willing to acquire the skill.

 

4. Parshottam Rupala inaugurates India’s first ever Animal Health Summit: Union Minister of Fisheries, Animal Husbandry and Dairying, Parshottam Rupala inaugurating First India Animal Health Summit 2022, he called for greater use of Ayurveda for ensuring better animal health. First India Animal Health Summit 2022 was held at NASC Complex, New Delhi understanding the significance of animal health towards the broader objective of the country’s food and nutrition security, rural incomes and prosperity and overall economic development.

About the ‘India Animal Health Summit 2022’: ‘India Animal Health Summit 2022’ organized by Indian Chamber of Food and Agriculture (ICFA) and the Agriculture Today Group. The two-day event will host a plethora of panel discussions ranging from topics such as Animal Health policy initiatives to Business environment & investment opportunities in the Animal Health sector. The deliberations evolved will later be documented and presented to authorities.

 

5. NSUT: Artificial Intelligence Center of Excellence inaugurated: At Netaji Subhash Institute of Technology (NSUT), an artificial intelligence centre was inaugurated. In his remarks at the Center’s opening, Deputy Chief Minister Manish Sisodia said universities must abandon conventional thinking and adopt an innovative approach if they are to advance the nation. According to Manish Sisodia, universities today take pride in having a Center of Excellence in Artificial Intelligence. It exhibits the lofty thinking of the young people leading the university and acting pro-actively.

Key Points: According to Mr. Manish Sisodia, in order to keep up with the speed of the quickly developing, technologically advanced nations, we must think ahead of our time, and universities are the best place to do this. Graphical processing units, workstations, data storage, and communication systems are available at the Centre of Excellence. According to the government, the centre now has a cutting-edge supercomputing system that includes a DGX A100 with 324 GB RAM and 8 GPUs, 100TB of storage, a smart rack, and high-speed switches, among other cutting-edge tools.

 

INTERNATIONAL UPDATES:

 

1. Boris Johnson resigns as United Kingdom Prime Minister: United Kingdom Prime Minister, Boris Johnson has announced his resignation as Conservative Party leader after he was abandoned by his close allies in the wake of a series of scandals that rocked his government, triggering a leadership election for a new Tory leader who will go on to become his successor. Johnson will remain in charge at 10 Downing Street until the process of electing a new leader is completed – expected by the time of the Conservative Party conference scheduled for October.

Reason Boris Johnson resigning: Johnson’s resignation comes after he weathered numerous scandals during a tumultuous three years in power in which he brazenly bent and sometimes broke the rules of British politics. He survived a no-confidence vote last month. But recent revelations that Johnson knew about sexual misconduct allegations against a lawmaker before he promoted the man to a senior position in his government led to Johnson’s resignation.

Next Prime Minister could be: Already the list of likely contenders is long and growing, from recently resigned Treasury chief Rishi Sunak, his successor in that job Nadhim Zahawi, Foreign Secretary Liz Truss, Attorney General Suella Braverman and Defense Secretary Ben Wallace.

 

2. Gita Gopinath becomes 1st woman to feature on IMF’s ‘wall of former chief economists’: India-born Gita Gopinath became the first woman and second Indian to feature on the ‘wall of former chief economists’ of the International Monetary Fund (IMF). The first Indian to achieve the honour was Raghuram Rajan who was Chief Economist and Director of Research of IMF between 2003 and 2006. Gopinath was appointed as IMF Chief Economist in October 2018 and was later promoted as the IMF’s First Deputy Managing Director in December last year.

Some interesting facts about Gita Gopinath:

a)      Gopinath had served as the first female chief economist of the Washington-based global lender for three years.

b)      Gopinath’s research has been published in many top economics journals.

c)       Prior to her appointment as IMF Chief Economist, she was the John Zwaanstra Professor of International Studies and Economics in the economics department of Harvard University.

d)      Before joining the faculty of Harvard University in 2005, she was an assistant professor of economics at the University of Chicago’s Booth School of Business.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. To conduct fieldwork of inflation anticipation survey, RBI chooses Hansa Research Group: In order to undertake field research for the July 2022 cycle of the consumer confidence and inflation anticipation surveys, the Reserve Bank of India (RBI) announced that it had chosen to partner with the Mumbai-based Hansa Research Group. This follows press releases announcing the launch of the consumer confidence survey (CCS) and inflation expectation survey of households (IESH), both dated June 30, 2022. Key Points:

a)      The Inflation Expectations Survey of Households (IESH) has been regularly conducted by the Reserve Bank of India.

b)      The survey aims to gather subjective opinions from households in 19 cities, including Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi, and Thiruvananthapuram, about price changes and inflation based on their individual consumption baskets.

c)       The survey asks for qualitative responses from households regarding price changes (general prices as well as prices of particular product groups) in the three-month and one-year futures as well as quantitative responses regarding inflation rates for the present, the next three months, and the next year. The survey’s findings offer helpful information for monetary policy.

d)      With regard to their opinions on the state of the economy as a whole, the job situation, the price level, and their own household income and spending, households are asked to provide detailed comments in the Consumer Confidence Survey. Regular surveys are done in 19 cities.

 

2. SBI General Insurance appoints Paritosh Tripathi as MD & CEO: Private non-life insurer SBI General Insurance had appointed Paritosh Tripathi as managing director and chief executive officer, effective July 5. He succeeds P.C. Kandpal, who has been posted as Deputy Managing Director (DMD)-(P&RE) at the Corporate Center, State Bank of India (SBI).

Career and Experience of Paritosh Tripathi: Mr. Tripathi has more than 32 years of banking experience and has worked in various departments including MSME, mid-corporate segment, international banking and bancassurance. Before joining SBI General Insurance, he was general manager operations, internal banking group with SBI and was also on the board of Sterling Bank, Nigeria and SBI Canada. From 2017 to 2020, he was head – bancassurance, firstly with SBI Mutual Fund, and then with SBI General Insurance. He was the CEO of SBI DIFC branch in Dubai.

 

BUSINESS AND ECONOMY

 

1. Google launched Startup School India, targets 10,000 startups in small cities: Tech Giant, Google launched the Startup School India initiative, which aims to gather relevant information on startup building into a systematic curriculum to help 10,000 startups in Tier 2 and Tier 3 cities. The nine-week virtual programme will involve fireside chats between Google leaders and collaborators from across the startup ecosystem. Key points of the programme:

a)      Startup School is a series of guided online trainings designed to equip early-stage startup founders with the tools, products, and knowledge that growing companies need.

b)      The curriculum will feature instructional modules on subjects like shaping an effective product strategy, deep dives on product user value, roadmapping and product requirements document development, building apps for next billion users in markets like India, driving user acquisition and many more.

c)       With close to 70,000 startups, India is the third largest birthing ground for startups in the world. And as more Indian founders lead their companies successfully to IPOs or unicorn status, it has set off a virtuous cycle wherein their success has ignited aspirations among young Indians across the length and breadth of the country.

Note: Google CEO: Sundar Pichai; Google Founded: 4 September 1998; Google Headquarters: Mountain View, California, United States.

 

AWARDS AND HONOURS

 

1. Polish government honoured maharajas for helping refugees during WW II: The Polish government has honoured the maharajas of Jamnagar and Kolhapur and others who sheltered Polish refugees fleeing the Soviet Union invasion of Poland during World War II. Honouring the invite, the Indian government sent a delegation of former royals, including Yuvraj Sambhaji Raje and Sanyogitaraje Chhatrapati of Kolhapur and representatives of Jamnagar royalty, to Poland. Poland’s deputy PM Piotr Glinski also participated in the Warsaw event. Recalling their memories of living in India, Polish residents showcased pictures of the Indian kings’ generosity.

In 1939, Germany attacked Poland from the West and the Soviet Union from the East. During the occupation, the Soviet authorities forced hundreds of thousands of Poles to migrate deeper into Soviet territory, including Siberia. At least 5,000 Polish citizens had then fled the country and sought refuge in Kolhapur. They stayed in Valiwade village near Kolhapur city for many years, where a little Poland of sorts came up, equipped with a school, a hospital and even a fire brigade.

 

OBITUARIES

 

1. Freedom fighter Gandhian P Gopinath Nair passes away: Freedom fighter P. Gopinathan Nair has passed away at the age of 100. He was known for following Gandhian ideology in his life and was honoured with the Padma award. He had participated in the freedom struggle. He had taken part in the Quit India Movement of 1942 and had worked alongside Vinoba Bhave to promote Bhoodan and Gramdan movements. The Government of India awarded him the fourth highest civilian honour of Padma Shri in 2016 for his contributions to society.

 

2. Former Japan Prime Minister Shinzo Abe passes away after being shot: Shinzo Abe, Former Japan’s Prime Minister, who was shot at during an election campaign in western Japan’s Nara city, has passed away. The Nara fire department had earlier said that the 67-year-old Abe was in cardiopulmonary arrest before he was taken to the hospital. They said that he had been wounded on the right side of the neck and the left clavicle. Abe, the country’s longest-serving prime minister until he resigned in 2020, was flown to hospital by helicopter after the attack. It was the first assassination of a sitting or former Japanese premier since the days of prewar militarism in the 1930s.

Police said a 41-year-old man suspected of carrying out the shooting had been arrested. Nippon Hōsō Kyōkai (NHK) Japanese public broadcaster quoted the suspect, identified as Tetsuya Yamagami, as telling police he was dissatisfied with Abe and wanted to kill him.

Daily GK Update- 7th July, 2022

 

NATIONAL UPDATES:

 

1. Odisha tops state ranking for implementation of National Food Security Act 2022: Odisha has topped in the state ranking for implementation of the National Food Security Act (NFSA) through ration shops, followed by Uttar Pradesh and Andhra Pradesh. Union Food and Consumer Affairs Minister Piyush Goyal released the ‘State Ranking Index for NFSA’ 2022 during a conference of state food ministers on food and nutrition security in India. As per the government’s ranking, Odisha is at first position with a score of 0.836, followed by Uttar Pradesh (0.797) and Andhra Pradesh (0.794). Key point of the ranking:

a)      Among the special category states (the North Eastern states, Himalayan states, and the Island states), Tripura has obtained the first rank. Himachal Pradesh and Sikkim are at the second and third positions. Despite the logistical limitations in these areas, they displayed a high degree of accomplishment in competing with the general category states as well.

b)      Gujarat is at fourth place, followed by Dadra & Nagar Haveli and Daman Diu, Madhya Pradesh, Bihar, Karnataka, Tamil Nadu and Jharkhand.

c)       Kerala has been ranked at the 11th position, Telangana (12th), Maharashtra (13th), West Bengal (14th) and Rajasthan (15th). Punjab is at the 16th position, followed by Haryana, Delhi, Chhattisgarh and Goa.

 

2. IIT Hyderabad and Greenko inks a pact to establish sustainable sci-tech school: In order to establish a school where students would be trained toward sustainable goals like climate change mitigation, circular economy, energy transition, among others, the renewable energy company Greenko has partnered with IIT-Hyderabad. The Greenko School of Sustainable Science and Technology (GSSST) will open toward the end of this year, according to a statement from the company, and by June 2023, the first batch of students will be admitted for the MTech and Ph.D. programmes in sustainable science and technology, followed by the BTech programme. Key Points:

a)      It will be the nation’s first institution solely focused on teaching sustainable science and technology.

b)      Dharmendra Pradhan, the Union Minister for Education, was present when the MoU was signed. Dharmendra Pradhan stated that in order to achieve self-sufficiency and advance global welfare, we must innovate and create our own models. India will take the lead in the fourth industrial revolution, and IIT Hyderabad will have a significant impact on the internationalisation of the Indian brand. Everyone must realise the goal of an Aatmanirbhar Bharat set forth by the prime minister.

Note: Union Minister for Education, GoI: Shri Dharmendra Pradhan

 

3. Tata Power and Tamil Nadu inks a pact to establish a solar manufacturing facility: Tata Power revealed that it has reached a deal with the Tamil Nadu government to invest Rs. 3000 crore in the construction of a new solar cell and module manufacturing facility in the state’s Tirunelveli district. According to the agreement, both parties will endeavour to promote the switch to renewable energy and the creation of jobs in the state. The investment in the facility must take place over a period of more than 16 months and must result in the creation of jobs, the majority of which will be for women. Key Points:

a)      More than 2,000 direct and indirect job opportunities will be generated by the initiative, most of which will go to women.

b)      After the one in Bengaluru, this will be Tata Power’s second such production facility.

c)       Tata Power revealed that it has reached a deal with the Tamil Nadu government to invest Rs. 3000 crore in the construction of a new solar cell and module manufacturing facility in the state’s Tirunelveli district.

d)      According to a corporate statement, Tata Power, one of India’s leading integrated power firms, has struck an agreement with the Tamil Nadu government to invest roughly Rs 3,000 crore to build a 4GW solar cell and 4GW solar module manufacturing facility in the Tirunelveli region of Tamil Nadu.

 

4. To establish semiconductor park, IGSS Ventures and Tamil Nadu Govt signs MoU: In the presence of Chief Minister M.K. Stalin, a Memorandum of Understanding (MoU) was signed between Tamil Nadu and the Singapore-based M/s. IGSS Ventures Pte Ltd to build a 300-acre semiconductor high-tech park in the State with an investment and grants of 25,600 crore. In the next five years, the project is expected to directly employ more than 5,000 individuals, according to an official press release. Key Points:

a)      By using renewable energy to cook, IGSS Ventures intends to take part in the India Semiconductor Mission and Project Surya, both of which aim to lessen air pollution and global warming.

b)      For a semiconductor fab that will produce wafers in three different technology nodes, including 28 nm, 45 nm, and >=65 nm, as well as an industry ecosystem infrastructure that includes semiconductor circuit designers, material suppliers, equipment suppliers, and outsourced semiconductor assembly and test players, Tamil Nadu has allocated nine strategic sites, including two near Chennai.

c)       According to the consortium, 1,500 semi-skilled and skilled workers might be employed when commercial production begins in two years.

d)      With an expected investment of roughly 76,000 crore, the ecosystem partners’ work in the high-tech park might result in an extra 25,000 jobs for people.

 

5. A new edition of Viswananthan Anand’s memoir ‘Mind Master’ released soon: Hachette India has announced the expanded paperback edition of five-time world chess champion Viswanathan Anand’s widely acclaimed memoir “Mind Master: Winning Lessons from a Champion’s Life”. The book, featuring a bonus chapter on how to navigate uncertainty and rapidly changing realities in the wake of the pandemic, will hit the stands on July 15. It is written by Anand with author-journalist Susan Ninan.

In “Mind Master”, Anand looks back at a lifetime of games played, opponents tackled and circumstances overcome and draws from its depths significant tools that will help every reader to navigate life’s challenges. There are many nuggets that Anand touches upon with characteristic wit, easy wisdom and disarming candour in the book.

 

INTERNATIONAL UPDATES:

 

1. Indian-American Billionaire on Forbes’ List of America’s Richest Self-Made Women: Indian-American Jayshree Ullal, CEO of Arista Networks, an American computer networking company, and a member of the board of directors of Snowflake, was ranked near the top of 8th annual Forbes’ America’s Richest Self-Made Women, with a net worth of $1.7 billion as of May 2022. The list, released in June 2022, ranks her at #15, below Alice Schwartz, co-founder of Bio-Rad Laboratories, and above reality TV star Kim Kardashian.

Other Indian American women who made it to the Forbes list are Neerja Sethi, co-founder of Syntel; Neha Narkhede, co-founder and former CTO of Confluent; former PepsiCo CEO Indra Nooyi, and Reshma Shetty, co-founder of Ginkgo Bioworks. Diane Hendricks, co-founder and chairman of ABC Supply, topped the list for the fifth year.

 

2. World Kishwahili Language Day: 7th July: World Kiswahili Day is celebrated on the 7th of July every year following a declaration by UNESCO member states in this regard. Kiswahili is one of the most widely spoken languages in Africa and the most widely spoken in sub-Saharan Africa. Kiswahili is also the only African language that is an official language of the African Union. This first celebration of the World Kiswahili language day will be held under the theme ‘Kiswahili for peace and prosperity’. The mission of the annual celebration is to promote the use of Kiswahili language as a beacon for peace, and enhanced multiculturalism.

World Kishwahili Language Day History: In November 2021 at its 41st Session in Paris, the General Conference of UNESCO declared July 7th World Kiswahili Language Day. By Resolution 41 C/61, Member States recognized the critical role played by Kiswahili in promoting cultural diversity, creating awareness, and fostering dialogue among civilizations. On July 7th 2022, the Permanent Mission of the United Republic of Tanzania to the United Nations and UNESCO will held the first international celebration of the World’s Kiswahili Language Day at the United Nations Headquarter in New York.

 

3. World Chocolate Day: 7th July: World Chocolate Day is celebrated on July 7 every year to commemorate the invention of chocolate. This special day allows people around the world to indulge in their favourite treat without any guilt. The day also celebrates all kinds of goodies made from chocolate, including chocolate milk, hot chocolate, chocolate candy bar, chocolate cake, brownies, or anything covered in chocolate.

World Chocolate Day History: World Chocolate Day was first celebrated in the year 2009. However, some even believe that people started marking July 7 as International Chocolate Day because it was the day when chocolate was first introduced to Europe in 1550.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. SBI updates agreement with Air Force for defence compensation package: The Memorandum of Understanding (MoU) between State Bank of India (SBI) and the Indian Air Force for the Defence Salary Package (DSP) plan has been extended, according to SBI. All active-duty and former members of the Air Force, as well as their families, will be eligible for a number of advantages and features under this programme from the nation’s largest lender.

Key Points:

a)      Later that day, two additional state-owned institutions, Bank of Baroda (BoB) and Punjab National Bank (PNB), also announced agreements offering a range of goods to active-duty and retired members of the IAF.

b)      In a press release, SBI stated that as part of its agreement with the IAF, it will provide the Air Force’s members with a wide range of advantages, including free personal accidental insurance, free air accidental insurance, and enhanced coverage in the event of an on-duty death.

c)       The bank claimed that in the event of an Air Force member’s passing, the family of the dead would be given additional coverage for the female child’s wedding and education.

d)      In addition, regardless of age, retired staff will be qualified for free personal accidental insurance. Pensioners’ families would be eligible for a range of benefits.

e)      All Air Force personnel who are covered by SBI’s Defense Salary Package will automatically receive the enhanced benefits outlined in the MoU, according to SBI.

Note: State Bank of India (SBI) chairman: Dinesh Kumar Khara

 

2. South Indian Bank tie up with Kerala Forest & Wildlife Dept for digital payment collection: The South Indian Bank has signed an agreement with Kerala’s Forest and Wildlife Department to enable digital collection of payments at eco-tourism centres, Vanasree shops, mobile Vanasree units and eco-shops across the State. The Forest Department has set up Vanasree shops and units with the objective of marketing forest products, conserving and managing biodiversity, protecting the rich and sensitive ecosystem and uplifting the living standards of the tribals working in the area. Through this partnership, the digital collection system of South Indian Bank will now be available at all 124 tourist spots that fall under the Forest Department. The tie-up will commence with the setting up of 124 POS machines at various eco-tourism centres, Vanasree shops, mobile Vanasree units and eco-shops under 36 forest department agencies across Kerala.

Note: South Indian Bank Headquarters: Thrissur; South Indian Bank CEO: Murali Ramakrishnan (1 Oct 2020–); South Indian Bank Founded: 29 January 1929.

 

BUSINESS AND ECONOMY

 

1. IRDAI and NHA to develop National Health Claims Exchange to settle claims: IRDAI and National Health Authority (NHA) will develop a National Health Claims Exchange as a digital platform to settle health claims. The National Health Claims Exchange will be developed as a digital platform, for settling the health claims. Chairman of IRDAI, Debasish Panda, has also proposed for creation of a working group with representation from industry. The working group will decide on how to attract more people to buy health insurance, by making the largest segment of general insurance in India.

Note: IRDAI Founded: 1999; IRDAI Headquarters: Hyderabad; IRDAI Chairperson: Debasish Panda.

 

AWARDS AND HONOURS

 

1. Ukrainian mathematician Maryna Viazovska wins prestigious Fields Medal 2022: Ukrainian maths professor, Maryna Viazovska, who won the top mathematics prize, the Fields Medal 2022. Viazovska and three other mathematicians received the Fields Medal, dubbed the Nobel prize in maths, in Helsinki after the ceremony was moved from Saint Petersburg to the Finnish capital in response to Moscow’s war. Maryna is only the second woman to receive the award, which is awarded to mathematicians under 40, since it was created in 1936. The other female laureate, Iran’s Maryam Mirzakhani, died of breast cancer in 2017 just three years after winning the prize.

The four awardees of the prestigious prize include:

a)      France’s Hugo Duminil-Copin (36 years)- Institut des Hautes Études Scientifiques

b)      US-based June Huh (39 years) – Princeton University

c)       Britain’s James Maynard (35 years) – University of Oxford

d)      Ukraine’s Maryna Viazovska ( 37 years) – Swiss Federal Institute of Technology

 

OBITUARIES

 

1. OPEC Secretary-General Mohammad Barkindo passes away: Organization of the Petroleum Exporting Countries (OPEC) Secretary-General, Mohammad Sanusi Barkindo, passed away. He was born in April 1959 in northeast Nigeria’s Adamawa state, Barkindo assumed the office of the OPEC Secretary-General in 2016. His tenure was scheduled to expire in July.

About the OPEC:  OPEC is a permanent, intergovernmental organization, created at the Baghdad Conference in 1960, by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. It aims to manage the supply of oil in an effort to set the price of oil in the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries. It is headquartered in Vienna, Austria.