Daily GK Update- 12th July, 2022

 

NATIONAL UPDATES:

 

1. National Capital Region Planning Board’s geo-portal “Pariman” now accessible for public: Geo-Portal for NCR known as ‘PARIMAN’ was launched on 31.08.2021 in the 40th meeting of the Board by Shri Hardeep Singh Puri, Chairman, NCRPB and Union Minister for Housing & Urban Affairs. For the purpose of effective utilization of remote sensing and GIS technology, a web geo-portal has been developed by National Informatics Centre (NIC), initially for use by the National Capital Region (NCR) participating states and the office of the National Capital Region Planning Board (NCRPB).

This Geo-Portal will help to improve decentralized planning and management in the NCR region. The Portal consists of around 179 Layers presented as Line, Point & Polygon features covering details of various sectors like Land Use, Transport, Industries, Water, Power, Health, Shelter, Heritage & Tourism, Disaster Management, etc.

 

2. Internet exchanges launched in Durgapur and Bardhaman by National Internet Exchange of India: Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, Skill Development & Entrepreneurship, Government of India, inaugurated two new Internet Exchange Points (IXP) of National Internet Exchange of India (NIXI) at Durgapur and Vardhman. In the presence of S. S. Ahluwalia, Member of Parliament for Bardhaman-Durgapur Lok Sabha, in keeping with Prime Minister Narendra Modi’s Digital India vision to connect every Indian. It is under the 1000-day plan of the Ministry of Electronics and Information Technology (MeitY).

Key Points:

a)      The National Internet Exchange of India (NIXI) also manages the first Internet Exchange in the state of Kolkata.

b)      With the opening of two new Internet Exchange Points in Durgapur and Bardhaman, it is currently increasing its presence throughout the state.

c)       The opening of these new NIXI internet exchanges throughout the state will help to advance and improve broadband and Internet services both locally and in surrounding areas.

d)      By improving their broadband services to their end users and changing the lives of the people in the area, the internet service providers connecting at these sites will gain.

e)      Every sector of the state will benefit from the opening of these new IXPs, including MSMEs and other business sectors as well as the health, education, agricultural, and startup ecosystems.

f)        Citizens will have greater access to government benefits and convenience, which will raise their standard of living.

 

3. Jitendra Singh to launch IS4OM for Safe & Sustainable Space Environment: With the help of the ISRO System for Safe and Sustainable Space Operation and Management (IS4OM), India has increased its ability to protect its space assets on its own. Mr. S Somanath, Secretary of the Department of Space and Chairman of the Indian Space Research Organization, are slated to officially launch the IS4OM in the presence of Dr. Jitendra Singh, Minister of Science and Technology, Earth Sciences. Key Points:

a)      The IS40M system was developed with a comprehensive viewpoint, according to ISRO (Indian Space Research Organisation), to assure the safety and sustainability of the space environment while enjoying the benefits of sustainable use of space for national development.

b)      Additionally, as part of IS4OM, specialised labs for space debris reduction and cleanup, compliance verification of UN/Inter-Agency Space Debris Coordination Committee (IADC) recommendations, and diverse R&D activities have been set up.

c)       A dedicated control centre for operations aimed at monitoring, tracking, and safeguarding India’s space assets was opened by ISRO in December 2020.

 

4. Y S Jagan Mohan Reddy, Chief Minister of Andhra Pradesh elected YSRC president for life: Yuvajana Sramika Rythu Congress (YSRC) elected Y S Jagan Mohan Reddy, the chief minister of Andhra Pradesh, as its “president for life.” Following a change to the party’s constitution, the following decision was made following the two-day plenary of the YSRC. Jagan Mohan Reddy would be given lifetime leadership of the YSRCP, according to Vijayasai Reddy, the leader of the YSRC’s Parliamentary Party. Key Points:

a)      In order to assist her daughter YS Sharmila in Telangana, YS Vijayamma, the mother of YS Jagan Mohan Reddy, stated that she is considering resigning from her position as honorary president of the YSRCP.

b)      She also launched the YSR Telangana Party in 2021 with the intention of challenging the state’s assembly elections.

c)       After parting with the Congress in March 2011, Jagan Mohan Reddy founded the YSRCP.

d)      He has held the position of party president while his mother Vijayamma has served as honorary president.

 

5. GoI clears appointment of Brajesh Kumar Upadhyay as CMD of GSL: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Brajesh Kumar Upadhyay as Chairman & Managing Director (CMD) of Goa Shipyard Limited (GSL), a PSU under the Ministry of Defence. Upadhyay has been appointed to the post for a period of five years from the date of his assumption of charge of the post, or until further orders, whichever is earlier. Presently, he is serving as Director (Operations) in the same organisation.

Note: Goa Shipyard Limited Founded: 1957; Goa Shipyard Limited Headquarters: Goa.

 

6. Rajendra Prasad take charge as MD of National High Speed Rail Corporation Limited: Rajendra Prasad has been appointed as the Managing Director of National High-Speed Rail Corporation Limited (NHSRCL) after the government dismissed Satish Agnihotri over corruption allegations. He is working as Director of Project with NHSRCL since November 2017 and is overall in charge of civil engineering works of the Mumbai Ahmedabad High-Speed Rail Project, popularly known as the Bullet Train Project.

Note: National High-Speed Rail Corporation Limited Founded: 12 February 2016; National High-Speed Rail Corporation Limited Headquarters: New Delhi.

 

INTERNATIONAL UPDATES:

 

1. Ruling party in Japan records significant victory in legislative vote: In a parliamentary election in Japan, the ruling party and its coalition partner achieved a significant victory. In the 248-seat chamber, the Liberal Democratic Party (LDP) and its minor coalition partner Komeito increased their combined share to 146, well exceeding the majority in the elections for half of the upper house seats. Japanese Prime Minister Kishida Fumio expressed his gratitude for the decision. He pledged to handle the nation’s most pressing problems, such as the pandemic, the conflict between Russia and Ukraine, and the rising cost of life.

The Japanese Prime Minister declared that in addition to a constitutional reform, he will continue to advocate for strengthening Japan’s national security. Additionally, he promised to boost the Japanese economy. Only two days had passed since the shooting death of former Prime Minister Shinzo Abe at a campaign rally before the election.

Note: Prime Minister of Japan: Kishida Fumio; Capital of Japan: Tokyo; Currency of Japan: Japanese Yen

 

2. World Paper Bag Day: 12th July: Every year, World Paper Bag Day is observed on July 12 to raise awareness of the importance of using paper bags instead of plastic bags. This day is dedicated to spreading awareness of the ill effects of plastic and how detrimental they are to our environment. Paper bags can easily be used to replace one-time-use plastic bags which are non-biodegradable or, in other words, take hundreds of years to decompose in landfills. The theme for Paper Bag Day this year is, “If You’re ‘fantastic’, Do Something ‘dramatic’ To Cut The ‘Plastic’, Use ‘Paper Bags’.”

World Paper Bag Day History: Francis Wolle, an American inventor, created the first paper bag machine in 1852. Later in 1871, Margaret E. Knight introduced another machine to generate flat-bottom paper bags and rose to fame as “The mother of the grocery bag”. Better paper bag designs and manufacturing processes were developed over time by inventors Charles Stilwell and Walter Deubener in the years 1883 and 1912 respectively.

 

3. World Malala Day: 12th July: International Malala Day is celebrated every year on July 12 on the occasion of young activist Malala Yousafzai’s birthday. The United Nations (UN) designated this date to be marked as Malala Day to honour the young woman who has been advocating for female education. The day is used as an opportunity to appeal to world leaders to ensure compulsory and free education for every child.

International Malala Day: History and significance: On July 12, 2013, then 16-year-old Pakistani activist delivered a moving speech at the headquarters of the United Nations. She highlighted the need for access to women’s education globally and called the world leaders to reform their policies. Malala was widely appreciated for her remarkable speech. Since July 12 was her birthday, therefore the UN promptly declared that the day will be celebrated as ‘Malala Day’ to honour the young activist.

 

OTHER UPDATES:

 

SPORTS

 

1. India’s GM D. Gukesh wins Gijon Chess Masters: India’s D. Gukesh won the Gijon Chess Masters, with eight points out of nine rounds. GM Alexandr Fier of Brazil finished second with 6.5 points while International Master Pedro Antonio Gines of Spain came third scoring six points. With the win, Gukesh took his FIDE rating to 2693. If he crosses the Elo rating of 2700, Gukesh could well become the sixth Indian to do so after Viswanathan Anand, Krishnan Sasikiran, P. Harikrishna, Vidit Gujarati and B. Adhiban.

 

2. ISSF World Cup, South Korea: India’s Arjun Babuta wins first gold medal: Arjun Babuta of India earned his first gold medal in shooting at the Changwon, South Korea, International Shooting Sport Federation (ISSF) World Cup stage. Final saw him overcome silver medalist for Tokyo 2020 Lucas Kozeniesky of the USA 17-9. Arjun Babuta had previously outperformed Lucas Kozeniesky in the eight-men ranking round with a score of 261.1 to 260.4. Sergey Richter of Israel finished third with a score of 259.9, and Paarth Makhija of India came in fourth with a score of 258.1.

In the eight-man ranking round, Arjun Babuta has qualified in second place behind Sergey Richter. In the 53-person field, Paarth Makhija has qualified in fifth position. Shahu Tushar Mane, the third Indian shooter competing, came in 30th. Thomas Farnik, the nation’s new foreign rifle coach, won India’s first medal in this event.

About Arjun Babuta: Sport shooter from India named Arjun Babuta. He competes in the 10 metre air rifle competitions and is from Chandigarh. Since 2016, Arjun has competed for the Indian Shooting Team. At the 2016 ISSF Junior World Cup in Suhl, the 2016 ISSF Junior World Cup in Gabala, the 2017 ISSF Junior World Championship in Suhl, and the 2018 ISSF Junior World Cup, he competed for India (Sydney).

 

BANKING AND FINANCE

 

1. Federal Bank and Bank of India penalized by RBI for breaking regulatory obligations: Due to shortcomings in regulatory compliance, the Reserve Bank of India (RBI) fined Federal Bank Rs 5.72 crore. The Reserve Bank of India (RBI) (financial services provided by banks) Directions, 2016 has strict penalties for violations. Federal Bank did not make sure that the insurance company did not compensate any of its employees providing corporate agency or insurance broking services with incentives (cash or non-monetary).

Key Points:

a)      The private lender’s standalone net profit increased by 13.13% to Rs 540.54 crore in Q4 FY22 over Q4 FY21 on a 2.72 % increase in total income to Rs 3948.24 crore.

b)      Treasury, corporate or wholesale banking, retail banking, and other banking operations make up Federal Bank’s four business segments.

c)       As of March 31, 2022, the bank had 1282 branches and 1885 ATMs and recyclers.

d)      Shares of Federal Bank increased 0.41 percent to Rs 97.40.

 

BUSINESS AND ECONOMY

 

1. On October 1st, this year, Paper Import Monitoring System to go in Action: The Paper Import Monitoring System (PIMS) was established by the Directorate General of Foreign Trade (DGFT) by changing the import policy for major paper products from “free” to “free subject to mandatory registration under PIMS.” According to the Ministry of Commerce and Industry, the new rule will take effect on October 1, 2022. However, the ministry announced in a statement that the online registration option will be available as of July 15, 2022.

Key Points:

a)      The PIMS must be used when a Domestic Territory Area unit imports a variety of paper products, including newspaper, handmade paper, coated paper, uncoated paper, Litho and offset paper, tissue paper, toilet paper, cartons, labels, and more.

b)      These products fall within 201 tariff lines. Paper goods including bank bond and cheque paper, security printing paper, and others have been exempt from the requirement to register.

c)       According to PIMS, an importer must pay a registration fee of Rs 500 no earlier than the 75th day and no later than the 5th day prior to the anticipated date of arrival of the import consignment in order to receive an automatic registration number.

d)      Multiple consignments Bill of Entry (BoEs) may be submitted under the same registration number within the registration’s validity term for the allowable quantity. The automatic registration number is valid for 75 days.

e)      A Unit in a Special Economic Zone/Free Trading Warehousing Zone or an Export Oriented Unit must register under the PIMS at the time of import of the items covered by the scheme.

 

DEFENCE

 

1. First-ever exhibition and seminar on “AI in Defense” organized: The Department of Defense Production, Ministry of Defense, will host the first-ever Artificial Intelligence in Defence symposium and exhibition in New Delhi, which will be officially inaugurated by Union Defence Minister Shri Rajnath Singh. The event will include a demonstration of the most innovative AI-enabled products that have been created by services, research organisations, industry, start-ups, and entrepreneurs. Key Points:

a)      Defence Secretary Dr. Ajay Kumar spoke at a press conference about the event and described it as a significant occasion where 75 newly developed AI products and technologies with military applications will be unveiled as part of the celebrations for the 75th anniversary of independence, Azadi Ka Amrit Mahotsav and to support the “Aatmanirbharta” initiative in the military.

b)      The products fall under the categories of cyber security, intelligent monitoring systems, logistics and supply chain management, speech and voice analysis, automation/unmanned/robotics systems, command, control, communication, computer & intelligence, surveillance & reconnaissance (C4ISR) systems, and operational data analytics. In addition to the 75 goods that are being released, another 100 are being developed at different levels.

c)       In response to a query, Additional Secretary Shri Sanjay Jaju stated that defence exports reached a record high of Rs 13,000 crore in the fiscal year 2021–2022 with a contribution of 70% from the private sector and the remaining 30% from the public sector.

d)      The event will also feature panel discussions with participation from the Services, academics, students, research organisations, and industry on topics like “Deploying AI in Defence,” “GenNext AI solutions,” and “AI in Defence – Industry Perspective.”

Note: Union Defence Minister, GoI: Shri Rajnath Singh; Defence Secretary: Dr. Ajay Kumar; Additional Secretary: Shri Sanjay Jaju

 

OBITUARIES

 

1. Former Angolan President Jose Eduardo Dos Santos passes away: Former President of Angolan, Jose Eduardo dos Santos has passed away at the age of 79. He was one of Africa’s longest-serving heads of state, who ruled for almost four decades as president of Angola. He stepped down from the president’s post in 2017. He had also fought for the continent’s longest civil war and turned his country into a major oil producer. Santos ruled his country for 38 years, from Agostinho Neto’s death in 1979 — four years after Angola won independence from Portugal — until 2017 when he stepped down voluntarily as president.

Note: Angola Capital: Luanda; Angola Currency: Kwanza.

Daily GK Update- 11th July, 2022

 

NATIONAL UPDATES:

 

1. Rajasthan government will introduce India’s first right-to-health bill: The Rajasthan government is soon likely to introduce in the Assembly the Right to Health Bill, “the first of its kind in India”, which aims to commit to quality and affordable health care services through government and private health care providers. In January, the government had prepared a draft bill that defines the rights of patients, their attendants and health care providers, as well as a system for addressing grievances of the stakeholders.

Important points of the bill:

a)      The right to health bill is part of the Rajasthan government’s bid to expand and strengthen medical services in the state.

b)      Recently, the chief minister approved Rs 117 crore towards expansion of the facilities in Mahila Chikitsalaya (women’s hospital) at Sanganeri Gate in Jaipur.

c)       The state has also ensured health security of every family by providing free treatment up to Rs 10 lakh to the people through Mukhyamantri Chiranjeevi Swasthya Bima Yojana.

d)      Along with this, an accident insurance of up to Rs 5 lakh is being given to the families registered in the scheme.

e)      Also, medicines and tests of the patients coming to government health facilities are being provided free of cost.

Note: Rajasthan Governor: Kalraj Mishra; Rajasthan Capital: Jaipur; Rajasthan Chief minister: Ashok Gehlot.

 

2. Mission Kushal Karmi: Delhi Govt’s scheme to improve construction workers’ skills: Manish Sisodia, the deputy chief minister of Delhi, started Mission Kushal Karmi to help construction workers improve their abilities. According to a formal press release, the Delhi government developed this programme with assistance from the Delhi Skill and Entrepreneurship University (DSEU) and Delhi Building and Other Construction Workers Welfare Board.

Key Points:

a)      This DSEU programme to increase the skills of construction workers, in collaboration with Simplex, NAREDCO, and India Vision Foundation, is particularly unique. Workers will upskill as part of this 15-day special training programme, which will increase their salaries in the future.

b)      This will contribute to an increase in worker salary of up to Rs 8,000. Under this scheme, the government wants to train 2 lakh workers in one year.

c)       The Delhi Skill and Entrepreneurship University now operates training centres in 3 locations, and more centres will be added soon. At each of these centres, excellent training spaces have also been created for the staff.

d)      The program’s goal is to offer over 2 lakh registered construction workers on-the-job skill development training in industry demand-driven job roles in the construction sector each year.

 

3. To execute NEP 2020, PM launches Akhil Bhartiya Shiksha Samagam: According to a press release from the Prime Minister’s Office, Prime Minister Narendra Modi launched Akhil Bhartiya Shiksha Samagam on the National Education Policy in Varanasi. The Prime Minister told the audience that “our education system and young generation carry a large role of realising the vows of the “Amrit Kaal.” He bowed to Mahamana Madan Mohan Malviya, wishing the Samagam all the best.

Shiksha Samagam:

a)      The Shiksha Samagam is being put on by the Ministry of Education. Eminent academics, policymakers, and academic leaders will have a forum to deliberate, exchange their experiences, and discuss the National Education Policy (NEP) 2020 implementation roadmap.

b)      More than 300 Academic, Administrative, and Institutional Leaders from Universities (Central, State, Deemed, and Private), and Institutes of National Importance (IIT, IIM, NIT, IISER) from around the nation are participating in the event as part of improving their capacities.

c)       The progress of NEP implementation in each participant’s institution would be discussed, along with notable implementation tactics, best practises, and success stories.

d)      Panel discussions on the nine topics chosen for higher education under NEP 2020 will be held during the course of the three-day Shiksha Samagam.

 

4. UP becomes first state to have 13 expressways in the nation: Uttar Pradesh‘s largest expressway network now has a foundation thanks to Chief Minister Yogi Adityanath. The state will soon have better highway connectivity from many other nations throughout the world. The state now boasts 13 expressways, making it the first state in the nation to do so. Six of the 13 expressways totaling 3200 km are in use while the other seven are under construction.

Key Points:

a)      On July 16, Prime Minister Narendra Modi will officially open the 296 kilometre long Bundelkhand Expressway, which will link Bundelkhand and Delhi. In the last five years, CM Yogi has drastically altered the state’s infrastructure.

b)      The BJP government has put a lot of effort into revitalising the roads after realising that infrastructure is the economic growth engine and that roads are a reflection of advancement.

c)       The NCR and western UP population’s long-standing request has been met by the double engine government. Taking the Delhi-Meerut Expressway as an illustration. Also, Prime Minister Narendra Modi laid the cornerstone for the 594 kilometre long Ganga Expressway.

d)      This expressway will help to bridge the hearts as well as shorten the distance between East and West. In addition, the construction of the Lucknow-Kanpur Expressway, Bundelkhand Expressway, Gorakhpur Link Expressway, Ghazipur-Ballia-Manjhighat Expressway, and Delhi-Dehradun Expressway will benefit all residents of the state. In addition, industrial corridors are being constructed beside motorways and expressways.

Note: Chief Minister Uttar Pradesh: Yogi Adityanath

 

5. Western Railways opened longest skywalk connecting Mumbai’s Bandra Terminus to Khar station: The Western Railway’s (WR) longest skywalk from the Khar Road railway station to the nearby Bandra Terminus has been opened for the passengers to reach the platforms to board trains easily. The skywalk spans 314 meters long and is 4.4 meters wide. Western Railway’s noted that the skywalk will allow passengers to reach Bandra (T) directly by deboarding at Khar station & taking south Foot Over Bridge.

About the skywalk: This skywalk has made travelling very convenient as earlier passengers travelling by suburban trains had to get down at Bandra or Khar Railway station to reach Bandra Terminus by walking. The new skywalk was built at an estimated cost of Rs 14 crore. Around 510 MT structural steel, 20 MT Reinforcement steel and 240 cum of concrete was used for the construction. This skywalk will connect all foot over bridges of Bandra Terminus.

 

6. R K Gupta named as deputy Election commissioner: Senior bureaucrat R K Gupta was appointed as the deputy election commissioner, an order issued by the Personnel Ministry said. He comes in place of T Sreekanth. Gupta, a Central Secretariat Service (CSS) officer, will serve as deputy election commissioner (Joint secretary level) till 28 February next year, the date of his superannuation.

Note: Chief Election Commissioner of India: Rajiv Kumar; Election Commissioner: Anup Chandra Pandey

 

INTERNATIONAL UPDATES:

 

1. Deutsche Bahn to be world’s first intermodal partner of Star Alliance: Deutsche Bahn (DB) will be the world’s first Intermodal Partner of Star Alliance. With this, DB and the aviation industry are sending another strong signal for the environment-friendly evolution of the travel industry. Under the new cooperation, DB customers and passengers of Star Alliance member airlines will be able to start or end their long-distance journey comfortably on the climate-friendly train. Germany is the first market and DB is the world’s first partner in the new Star Alliance initiative.

An industry-first, Star Alliance’s Intermodal Partnership model intelligently combines airlines with railway, bus, ferry or any other transport ecosystem, alliance-wide. It is designed to link loyalty systems and facilitate seamless airport/station/port transit. Star Alliance plans to expand intermodal partnerships in the future.

About the partnership: The new partnership between DB and Star Alliance builds on the Lufthansa Express Rail program. Lufthansa customers have been able to buy a combined ticket for trains and flights in one booking step for more than 20 years.

In the future, in addition to Lufthansa, all 25 other Star Alliance member airlines will be able to include DB’s environmentally friendly ICE trains as a flight number in their booking engine and customers will benefit from advantages.

Note: Deutsche Bahn CEO: Richard Lutz; Deutsche Bahn Headquarters: Berlin, Germany; Deutsche Bahn Founded: January 1994.

 

2. World Population Day: 11th July: World Population Day is observed every year on July 11 to raise awareness about global population issues. The major purpose of this day is to raise awareness of all the negative impacts that population growth has had on the steady development of nature. The theme for this year is “A world of 8 billion: Towards a resilient future for all – Harnessing opportunities and ensuring rights and choices for all”. As the theme suggests, there are 8 billion people living today but not all of them have equal rights and opportunities.

World Population Day History: It was founded in 1989 by the then-Governing Council of the United Nations Development Programme. On July 11, 1990, the day was first observed in more than 90 nations. Since then, a number of UNFPA national offices as well as other organizations and institutions, in collaboration with governments and civil society, have observed World Population Day.

 

OTHER UPDATES:

 

SPORTS

 

1. Ferrari’s Charles Leclerc wins Austrian Grand Prix 2022: Ferrari’s Charles Leclerc held off world champion Max Verstappen to win the Austrian Grand Prix 2022. Red Bull’s Max Verstappen had to settle for second and Mercedes’ seven-time world champion Lewis Hamilton was a distant third, after starting eighth, to complete the podium for the third race in a row. Leclerc, whose victory is his first in Formula 1 had not started on pole position, has now closed the gap to Verstappen in the drivers’ championship standings to 38 points.

The 2022 Austrian Grand Prix was a Formula One motor race held on 10 July 2022 at the Red Bull Ring in Spielberg, Austria. It was the second Grand Prix weekend of the 2022 season to utilise the Formula One sprint format.

 

2. Wimbledon 2022: Novak Djokovic wins seventh title: Serbia Novak Djokovic won a seventh Wimbledon men’s title and 21st Grand Slam crown with a four-set triumph over Nick Kyrgios. Kyrgios gave his best to challenge the more experienced rival in his first Major final, but he could take only one set, propelling Djokovic toward the 21st Major crown.

Women Singles: Kazakhstan’s Elena Rybakina made a brilliant comeback after being set down to beat Tunisian third-seed Ons Jabeur 3-6, 6-2, 6-2 and win the Women’s Singles title at Wimbledon. Rybakina became the first-ever Kazakh female player in the Open Era to win a WTA title on grass and is also the Kazakh female player with the most WTA-level titles in the Open Era (3). The 23-year-old also became the youngest female player to win the title in Wimbledon since Petra Kvitova in 2011.

Here is the Complete List of Winners in Different Categories:

S.No	Category	Winner	Runner up
1	Men’s Singles	N. Djokovic	N. Kyrgios
2	Women’s Singles	E. Rybakina	O. Jabeur
3	Men’s Doubles	M. Ebden & M. Purcell	N. Mektić & M. Pavić
4	Women’s Doubles	K. Siniaková & B. Krejčíková	S. Zhang & E. Mertens
5	Mixed Doubles	D. Krawczyk & N. Skupski	M. Ebden & S. Stosur

 

BANKING AND FINANCE

 

1. Shriram General Insurance and City Union Bank signed corporate agency agreement: City Union Bank (CUB) and Shriram General Insurance inked an agreement in a corporate setup to offer Shriram General Insurance’s insurance products through its network of 727 offices throughout India. According to this arrangement, Shriram General Insurance will provide customers of the bank with personal lines of insurance products including auto, personal injury, house, and travel insurance as well as business lines of insurance goods like property, marine, and engineering insurance.

Key Points:

a)      According to a press release, the arrangement would improve customer experience by utilizing technology and enhancing the services offered by the bank.

b)      For general insurance, life insurance, and health insurance, the Insurance Regulatory and Development Authority (IRDAI) has allowed banks to form alliances with three different corporations. The bank and Shriram Insurance have recently formed a partnership.

c)       In the beginning, the bank collaborated with the broking company Bharat Re Insurance Brokers (of the Shriram Group) to handle customers, assess risks, and settle claims. However, this is no longer present.

Note: Shriram General Insurance MD and CEO: Anil Kumar Aggarwal

City Union Bank MD and CEO: N Kamakodi

 

BUSINESS AND ECONOMY

 

1. India’s Retail inflation at 7.01% in June: Retail inflation, based on the consumer price index (CPI), eased to 7.01 per cent in June this year compared to 7.04 per cent in the preceding month. Ministry of Statistics and Programme Implementation said inflation eased marginally mainly due to easing prices in the “Food & Beverages” section.

Key Points:

a)      In June 2022, inflation in the food basket came at 7.56 per cent, compared to 7.84 per cent in May this year.

b)      The inflation figure in vegetables eased to 17.37 per cent during the reported month from 18.26 per cent in May 2022.

c)       Surging global commodity prices due to the Russia-Ukraine war and high crude oil prices have kept inflation above RBI’s six per cent upper tolerance range.

d)      The government has mandated the central bank to maintain retail inflation at four per cent with a margin of two per cent on either side for a five-year period ending March 2026.

 

AWARDS AND HONOURS

 

1. Pallavi Singh wins the Mrs Universe Divine Crown in South Korea: India’s Pallavi Singh has won the Mrs Universe Divine Title at the finals held at Yeosu City, South Korea. She hails from Kanpur, India, and has made her country proud in this contest that saw participation from 110 countries. This is a proud moment for India. Pallavi Singh was the contestant from Asia in the Mrs Universe contest and has demonstrated the strong will and commitment of Indian women to excel in all walks of life.

Pallavi Singh won the title of Mrs India held in Jaipur in 2020. She then won the title of Mrs Indo-Asia Universe in the Asia-level competition held in Delhi in October 2021. She was the contestant from India and Asia in the Mrs Universe contest, which saw her taking away the crown.

Daily GK Update- 10th July, 2022

 

NATIONAL UPDATES:

 

1. Amit Shah virtually unveils ‘Statue of Peace’ of Swamy Ramanujacharya: Union home minister, Amit Shah virtually unveiled the ‘Statue of Peace’ of Swamy Ramanujacharya in Srinagar, located in a temple in the Sonwar region. Saint Ramanujacharya, also known as Ramanuja, is considered to be a great thinker, philosopher and social reformer, a south Indian Brahmin born in Tamil Nadu’s Sriperumbudur. About the Ramanuja:

a)      Ramanuja is known to have revolted against the discrimination of untouchability and played a role in bringing a big change in society. He is a follower of Vaishnavism and taught people the principles of salvation.

b)      He wrote many books, including Sri Bhashya, Vedartha Sangraha and Bhagavad Gita Bhasya, based on his belief that is different from the teachings of Adi Shankaracharya. The saint is known for judging people not by their caste at birth, but by their character.

c)       He is believed to be the first Hindu acharya to initiate women into ‘sanyasa’ (renunciation of the world). He is also known for blending Vedanta methodology with ‘bhakti’. After Ramanuja’s demise, the female community of ‘sanyasinis’ faded away.

 

2. Union Minister Hardeep Singh Puri launches SVANidhi Mahotsav: On the occasion of second anniversary of the Prime Minister Street Vendor’s AtmaNirbharNidhi (PM SVANidhi) scheme, the Housing and Urban affairs Minister, Hardeep Singh Puri launched the ‘SVANIdhi Mahotsav,’ which will be celebrated from 9th to 31st of July. The festival will be organized in 75 cities across all states and Union Territories, and showcase various cultural activities, digital training activities and loan melas. It will also have functions for felicitation of distinguished Street vendors. The festival aims to celebrate 75 years of independence with the nano-entrepreuners and it is the first of its kind for the financial inclusion of street vendors. Till now three thousand six hundred crore rupees has been distributed to beneficiaries of the scheme. The PM SVANidhi programme was launched by the modi government in July 2020 to provide financial assistance through loans to street vendors who were reeling under the devastating effects of the coronavirus pandemic.

 

3. India’s undernourished population drops to 224.3 million as per UN report: India’s population of 224.3 million undernourished people has decreased over the past 15 years according to the UN report. However, the number of obese adults and anaemic women has increased in the world’s second-most populous nation. According to the State of Food Security and Nutrition in the World 2022 report, which was released by the World Health Organization (WHO), International Fund for Agricultural Development (IFAD), UNICEF, World Food Programme (WFP), and Food and Agriculture Organization (FAO), 828 million people worldwide were suffering from hunger in 2021, up about 46 million from 2020 and 150 million since the COVID-19 pandemic’s outbreak. Important highlights about India as per the Report:

a)      There were 224.3 million undernourished persons in India in 2019–21, down from 247.8 million in 2004–06.

b)      The number of stunted children under the age of five decreased from 52.3 million in 2012 to 36.1 million in 2020 and the number of overweight children under the age of five decreased from three million to 2.2 million in 2020.

c)       However, India, which has a population of over 1.38 billion, saw an increase in the number of obese adults from 25.2 million in 2012 to 34.3 million in 2016, and an increase in the number of women with anaemia between the ages of 15 and 49 from 171.5 million in 2012 to 187.3 million in 2019.

d)      From 11.2 million in 2012 to 14 million in 2020, exclusively breastfed infants up to the age of five months.

 

4. Mangarh Hillock to be declared monument of national importance: A team from National Monuments Authority lead by Shri Tarun Vijay, Chairman, National Monuments Authority, submitted a report on declaring Mangarh hillock in Rajasthan as a monument of National Importance in the year of Azadi Ka Amrit Mahotsav. This report carries relevant details about the Mangarh hillock and recommendations by National Monuments Authority.

Minister of State for Culture Shri Arjun Ram Meghwal said that the unsung heroes and Mangarh hillock haven’t received the importance in history which they deserved. He also said 1500 Bhil tribal freedom fighters were brutally killed by the British army on 17th November 1913. To pay our tribute to, on the occasion of Azadi ka Amrit Mahotsav we will positively take forward the report submitted by NMA Chairperson, Shri Tarun Vijay.

 

5. Delhi to host India’s biggest shopping festival in 2023: Delhi will host its first ever government-backed shopping festival from January 28 to February 26 next year, chief minister Arvind Kejriwal announced. The festival will have 200 concerts for entertainment, food walks and will also offer huge discounts on products. This will be the biggest ever shopping festival in India. The Delhi Shopping Festival was one of the ambitious projects proposed in the Rozgaar Budget 2022-23 presented by deputy chief minister Manish Sisodia in March this year. During the festival, huge discounts will be offered on products to customers and awards will also be given to keep the quality of the festival high. There will be exhibitions on spirituality, gaming, wellness and technology. For 30 days during the festival, Delhi will be decked up like a bride. All major markets and malls will be decorated. It will offer an unparalleled shopping experience to people.

 

6. Kharchi festival begins in Tripura 2022: A week-long traditional Kharchi festival, offering prayer to 14 gods and goddess, began with thousands of devotees converging at Khayerpur on the eastern outskirts of the Tripura. Kharchi Puja is predominantly a tribal festival but it owes its origins to Hindu religion. Devotees and sadhus from across India and neighbouring Bangladesh have also participated in the festival. According to Tripura royal family’s “Rajmala”, Queen Hiravati once went to take a bath in the river Maharani and noticed a wild buffalo chasing the 14 gods. With the help of the queen’s cloth the gods managed to kill the beast. Happy with Hirabati’s help, the gods visited the palace and the royal family offered puja by sacrificing wild buffaloes.

Note: Tripura Capital: Agartala; Tripura Chief Minister: Dr. Manik Saha; Tripura Governor: Satyadeo Narain Arya.

 

7. National Fish Farmers’ Day: 10th July: National Fish Farmers Day is celebrated on 10th July every year to demonstrate solidarity with all fisher folk, fish farmers and concerned stakeholders throughout the Country. It is 65th National Fish Farmers Day being celebrated across the Country. National Fisheries Development Board, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India celebrated the National Fish Farmers Day virtually at National Fisheries Development Board (NFDB) Hyderabad.

 

INTERNATIONAL UPDATES:

 

1. Sri Lanka PM Ranil Wickremesinghe announces resignation: Ranil Wickremesinghe has resigned as Sri Lankan prime minister to make way for an all-party government to take over. He will resign after an all-party government is established and the majority is secured in Parliament. Wickremesinghe will continue as Prime Minister until then. Meanwhile, 16 MPs of President Rajapaksa’s Sri Lanka Podujana Peramuna (SLPP) party in a letter requested him to resign immediately and make way for a leader who could command the majority in Parliament to lead the country. In the wake of the island nation’s worst economic crisis since it gained independence in 1948, people have been protesting against President Rajapaksa and his government, asking him to step down. The island nation of 22 million people has witnessed its foreign exchange reserves shrink due to economic mismanagement and the impact of the Covid-19 pandemic.

 

2. Alvaro Lario named as new President of IFAD: The governing council of the International Fund for Agricultural Development (IFAD) has been appointed as Spain’s Alvaro Lario new President. Lario will take office on 1 October 2022 and serve a four-year term. He will succeed Gilbert Houngbo who has led the organisation since 2017. Key Points:

a)      Lario, who would become IFAD 7th president, will lead the UN agency at a crucial time when global food prices are surging, induced by the Ukraine war, climate change, and the pandemic, with the World’s poorest countries hardest hit.

b)      New figures published by five UN agencies including IFAD showed the world falling further behind in efforts to end hunger and poverty in line with the 2030 Sustainable Development Goals.

c)       The State of Food Security and Nutrition report showed that hunger globally rose to as many as 828 million in 2021, an increase of about 150 million since the outbreak of the Covid-19 pandemic.

Note: International Fund for Agricultural Development Founded: December 1977, Rome, Italy.

 

OTHER UPDATES:

 

SPORTS

 

1. 36th National Games: To be held in Gujarat from Sep 27 to Oct 10: Bhupendra Patel, the chief minister of Gujarat, declared that the 36th National Games will be held in his state from September 27 to October 10 for the first time ever. Due to a number of factors, including the coronavirus pandemic since 2020, the prestigious event is being hosted after a seven-year hiatus; the previous one was in Kerala in 2015. The chief minister claimed in another post that Gujarat has world-class athletic facilities and that the sporting world is experiencing a resurgence. The government will do everything possible to make the national games the best athletic event ever. Key Points:

a)      There will be more than 34 sports represented at the national games, which will take place in six cities.

b)      In both indoor and outdoor competitions, athletes from all over the nation are anticipated to display their prowess in sports including athletics, hockey, football, volleyball, lawn tennis, table tennis, judo, wrestling, kabaddi, kho-kho, mallakhambha, and yoga.

c)       Goa was another strong candidate for the location this year, in addition to Gujarat.

Note: Gujarat minister for youth, sports and culture: Shri Harsh Sanghavi

 

BANKING AND FINANCE

 

1. Indian Air Force & PNB signs MoU for ‘PNB Rakshak Plus Scheme’: Public sector bank, Punjab National Bank (PNB) has signed a memorandum of understanding (MoU) with the Indian Air Force (IAF) under its flagship scheme, PNB Rakshak Scheme. The MoU focus on providing a bouquet of benefits along with specially designed products for the IAF personnel, including personal insurance cover. This scheme includes personal accident insurance as well as air accidental insurance to serving, retired as well trainees of the defence forces. It also covers retired defence pensioners, along with personnel of the central armed police forces, state police force, and metro police. The salient features of the PNB Rakshak Plus Scheme are:

a)      Personal accidental cover of Rs. 50 lakh.

b)      Air accident Insurance cover of Rs. 1 crore.

c)       Personal Accidental (Permanent total Disability) cover of Rs. 50 lakh.

d)      Education loan under “PNB Pratibha” for wards of primary account holders seeking admission in premier institutes and educational institutions.

e)      Financial assistance of Rs. 1 lakh (per year) for 4 years or the actual expenditure whichever is less, for the education of two surviving and dependent children (male or female).

f)        Overdraft up to last three months net salary/pension amounting from Rs. 75,000 to Rs. 3 lakh.

g)      Concession in rate of interest and service charges for home, car, education and/or personal loan. Other benefits include facilities such as zero balance saving account for family members and concession in locker rent charges.

 

2. Union Bank launched Open Banking Sandbox and Metaverse Virtual Lounge: Union Bank of India (UBI) has introduced a Metaverse Virtual Lounge – Uni-verse, & Open Banking Sandbox environment in collaboration with Tech Mahindra in an effort to elevate consumers’ banking experiences. In the beginning, movies and information on the bank’s deposits, loans, government assistance programmes, digital initiatives, etc. will be hosted by Uni-verse. Customers will receive a special banking experience thanks to it. The bank will work with fintechs and start-ups to develop cutting-edge banking products under the Open Banking Sandbox environment, according to reports.

 

BUSINESS AND ECONOMY

 

1. Coffee Board to collaborate with ISRO to develop climate-resistant varieties: State-run Coffee Board is planning to focus on developing new varieties that will be resistant to the changing climatic patterns. A Memorandum of Understanding (MoU) between the Coffee Board and the Indian Space Research Organization (ISRO) was signed with regard to breeding climate-resilient varieties and assessing the carbon sequestration potential in coffee among others.

The Central Coffee Research Institute (CCRI) in the Chikmagalur district of Karnataka conducts plant-related research activities under the Board in the areas of plant breeding, agronomy, agriculture chemistry and soil science, plant physiology, pathology, entomology, and post-harvest technology, among others. In recent years, coffee growers in the country have borne the brunt of changing climatic patterns. The number of extreme weather events affecting growers, such as excessive rain in a short period or deficit rainfall, is increasing.

Note: ISRO Founded: 15 August 1969; ISRO Headquarters: Bengaluru; ISRO Chairman: S Somanath.

 

OBITUARIES

 

1. ‘Father of Indian Internet’ BK Syngal passes away: Brijendra K Syngal, former Chairman of Videsh Sanchar Nigam Ltd (VSNL), passed away after a prolonged illness. He was 82. Syngal, who has been acknowledged as the father of the Indian Internet, was known for his strong views and fearlessness in taking on the establishment. As the Chairman of VSNL, he was unofficially known as the ‘bulldozer’ for his ability to push through bureaucratic hurdles, as a result of which VSNL grew from a $125 million company in 1991 into a $1.65 billion communications giant by 1998.