Daily GK Update- 14th Sep, 2022

NATIONAL UPDATES:

 

1. India’s first National Electric Freight Platform Launched by NITI Aayog, WRI: NITI Aayog and World Resources Institute (WRI), launched India’s first National Electric Freight Platform- E-FAST India (Electric Freight Accelerator for Sustainable Transport-India). The National Electric Freight Platform brings different stakeholders together with the support of the World Economic Forum, CALSTART, and RMI India. Key points related to E-FAST India:

a)      The platform aims to raise awareness of freight electrification bolstered by an on-ground demonstration pilot and evidence-based research. It will support scalable pilots and inform policies aimed at accelerating freight electrification in India.

b)      The launch of E-Fast India has witnessed participation from major automobile industries, logistics companies, development banks, and fin-tech companies. It will help strengthen the partnership and identify freight solutions and support them.

c)       The launch of E-Fast India was followed by the launch of WRI India’s Total Cost of Ownership (TCO) Evaluator.

d)      The TCO Evaluator is an intuitive excel-based application, which helps in analyzing cost components and performance parameters.

e)      The parameters included light, medium, and heavy-duty freight and compared electric variants with their diesel, petrol, and CNG counterparts to identify their impact on TCO per km.

 

2. PM Modi Inaugurates World Dairy Summit 2022 in Greater Noida: Prime Minister Narendra Modi inaugurated the International Dairy Federation’s World Dairy Summit (IDF WDS) 2022 at the India Expo Center and Mart in Greater Noida, the Prime Minister’s Office (PMO) said in a statement. At the rally, the prime minister said the dairy sector’s potential would not only boost the rural economy, but would also be an important source of livelihood for millions of people around the world. Key Points:

a)      The Indian dairy industry is unique in that it is based on a cooperative model that empowers small and marginalized dairy farmers, especially women.

b)      The government has taken some steps to improve the dairy industry and as a result milk production has increased by more than 44% of his. in the last eight years.

c)       The success story of India’s dairy industry, which accounts for approximately 23% of the world’s milk, produces approximately 210 million tonnes annually and empowers over 8 million dairy farmers, will be showcased at IDF WDS 2022.

d)      The four-day IDF WDS 2022 held from September 12th to 16th. About 1,500 participants from 50 countries are expected to attend IDF WDS 2022, according to the PMO.

 

3. PM Modi inaugurates Centre-State Science Conclave: Prime Minister Narendra Modi inaugurated the ‘Centre-State Science Conclave’, in Ahmedabad. Prime Minister Narendra Modi addressed the event via video conferencing, and highlighted the importance of ‘Sabka Prayas’ in the ‘Centre-State Science Conclave’. Prime Minister Narendra Modi emphasized the basic solution, evolution, and innovation of science. Key Points:

a)      The ‘Centre-State Science Conclave’ is a great achievement for India and the government urges the Indian citizens to celebrate the achievements of Indian scientists.

b)      The ‘Centre-State Science Conclave’ is being organized to strengthen the coordination between Centre and state governments and collaboration mechanisms in promoting innovation and entrepreneurship.

c)       Prime Minister Narendra Modi emphasized on the increase of innovation laboratories in India.

d)      India has risen to 46th rank in the Global Innovation Index.

 

4. Odisha govt launched rainwater harvesting scheme named ‘CHHATA’: Odisha government has launched a rainwater harvesting scheme named ‘Community Harnessing and Harvesting Rainwater Artificially from Terrace to Aquifer (CHHATA). The new scheme was approved by the Cabinet last month. It will be implemented for a period of five years. About the scheme:

a)      The State sector scheme will work towards conserving rainwater and improving water quality in urban local bodies (ULBs) and water scarce blocks.

b)      As per the feasibility based on a groundwater resource assessment conducted in 2020, rainwater harvesting structures will be constructed on the roofs of 29,500 private buildings and 1,925 government buildings covering 52 water-stressed blocks and 27 urban local bodies.

c)       An estimated 373.52 crore litre of water will be harvested during the scheme period between 2022-23 and 2026-27. It will be implemented through the existing manpower of the department of Water Resources (DoWR) with an outlay of Rs 270 crore.

d)      While the average cost of each water harvesting structure on the roofs of government buildings has been estimated at Rs 4.32 lakh, the expenditure would be around Rs 3.06 lakh per building in rural areas.

Note: Odisha Capital: Bhubaneswar; Odisha Chief Minister: Naveen Patnaik; Odisha Governor: Ganeshi Lal.

 

5. A book title “Forging Mettle: Nrupender Rao and the Pennar Story” by Pavan C. Lall: A senior journalist Pavan C Lall has authored a new book ‘Forging Mettle: Nrupender Rao and the Pennar Story’, which is set to be released in September 2022. The book will be published by HarperCollins Publishers India. The book is focused on how a business is built into a large organisation on the foundations of values and sustainability.

The essence of the book: Forging Mettle is a story of Nrupender Rao, Chairman of the Board at Pennar Industries Limited and his entrepreneurial journey. The story gives a unique philosophy for a company, recommended to striving entrepreneurs to understand how to construct a principled and ethical institution. It’s also the story of how a business built with ethics and social and environmental concern at the core of its values can indeed be profitable and sustainable.

 

6. Hindi Diwas: 14th September: Hindi Diwas or Hindi Day is observed every year on 14 September to mark the popularity of Hindi as an official language of India. The language was adopted under Article 343 of the Indian Constitution. The first Hindi day was celebrated on 14th September 1953. Hindi is one of the major languages used in India as a large portion of the country’s population knows and uses the language.

Hindi Diwas is celebrated to commemorate the adoption of Hindi in the Devanagari script as one of the official languages of the nation. Hindi was adopted by the National Constitution on September 14, 1949 and it became the official language of the country.

Hindi Diwas also marks celebrating the birthday of Beohar Rajendra Simha who played a crucial role in getting Hindi in the Devanagari script approved as an official language of India. He was born on 14 September 1916.

 

INTERNATIONAL UPDATES:

 

1. Volker Turk set to become next UN human rights chief: The United Nations (UN) General Assembly approved Volker Türk of Austria to be the global body’s Human Rights Chief by UN Secretary­-General Antonio Guterres. Volker Turk replaces Verónica Michelle Bachelet Jeria, a Chilean politician who served at the office of the UN High Commissioner for Human Rights (OHCHR) from 2018 to 2022. Turk, currently serving as assistant secretary-general for policy.

Career of Volker Türk: Previously, Volker Türk served as the Assistant High Commissioner for Protection at UN refugees, the UN Refugee Agency (UNHCR), Geneva. He had a long and successful career in the advancement of human rights globally. He served with the UN refugee agency in Malaysia, Kosovo and Bosnia Herzegovina, the Democratic Republic of Congo, and Kuwait. His immediate challenge will be the controversial report of the accusation on China committing crimes against humanity and possibly genocide (mass murder) against the Uyghur people and abusing Muslim minorities.

Note: Office of the High Commissioner for Human Rights (OHCHR) Headquartered: Geneva, Switzerland; New York City, United States; Office of the High Commissioner for Human Rights Establishment: December 1993.

 

2. UNDP’s human development index: India ranks 132 out of 191 countries: A report on the 2021 Human Development Index (HDI) is part of the Human Development Report 2021-2022 released by the United Nations Development Programme. The HDI measures the average achievement of a country in three basic dimensions of human development - a long and healthy life, education and a decent standard of living. It is calculated using four indicators — life expectancy at birth, mean years of schooling, expected years of schooling, and the Gross National Income (GNI) per capita. UNDP’s human development index: Notably

a)      For the first time on record, the global Human Development Index (HDI) has dropped for two years in a row, taking the world back to just after the adoption of the 2030 Agenda for Sustainable Development and the Paris Agreement.

b)      Every year a few countries face declines on the HDI, but over 90 per cent of countries saw their HDI value drop in either 2020 or 2021.

Indian Scenario: India ranked 132nd among 191 countries and territories on the 2021 Human Development Index (HDI). In the 2020 report, India had ranked 131st among 189 countries and territories. The decline in the country’s performance from its previous level was on account of a fall in life expectancy.

a)      India’s latest HDI value of 0.633 places the country in the medium human development category, lower than its value of 0.645 in the 2020 report. The report attributes the drop in HDI from 0.645 in 2019 to 0.633 in 2021 to India’s falling life expectancy — from 69.7 years to 67.2 years during the survey period.

b)      Although India retained its 132nd position in the Gender Development Index, the female life expectancy dropped from 71 years in the 2020 report to 68.8 years in the 2021 report.

c)       India scored 0.123 in the Multi-Dimensional Poverty Index (MPI) with a headcount ratio of 27.9 per cent, with 8.8 per cent population reeling under severe multidimensional poverty.

Asian Countries: Among India’s neighbours, Sri Lanka (73rd), China (79th), Bangladesh (129th), and Bhutan (127th) are ranked above India, while Pakistan (161st), Nepal (143rd), and Myanmar (149th) are worse off.

2021 Human Development Index: Top and Important countries:

 

HDI rank	Country	HDI Value 2021
1	Switzerland	0.962
2	Norway	0.961
3	Iceland	0.959
4	Hong Kong, China (SAR)	0.952
5	Australia	0.951
6	Denmark	0.948
7	Sweden	0.947
8	Ireland	0.945
9	Germany	0.942
10	Netherlands	0.941
18	United Kingdom	0.929
19	Japan	0.925
21	United States	0.921
79	China	0.768
132	India	0.633

 

OTHER UPDATES:

 

SPORTS

 

1. US Open 2022 Concludes: In the men’s category, Spanish player C. Alcaraz Garcia has lifted his first Grand Slam trophy after defeating C. Ruud, to become the youngest player to reach world No. 1 at just 19 years old. The event was held at the Arthur Ashe Stadium in New York. In the women’s category, Poland tennis player I. Świątek defeated O. Jabeur to win the 2022 US Open women’s singles final title.

In 2022, the U.S. Open set a new record for total prize purse, at more than $60 million, up from $57.5 million in 2021. For women’s and men’s singles, the total prize money is $42,628,000, with the winners taking $2.6 million respectively. The men’s and women’s singles runner-ups will each receive $1.3 million. Complete List of Winners in Different Categories:

 

S. No.	Category	Winner	Runner Up
1	Men’s Singles	C. Alcaraz Garfia	C. Ruud
2	Women’s Singles	I. Świątek	O. Jabeur
3	Men’s Doubles	R. Ram & J. Salisbury	W. Koolhof & N. Skupski
4	Women’s Doubles	K. Siniaková & B. Krejčíková	C. McNally & T. Townsend
5	Mixed Doubles	S. Sanders & J. Peers	K. Flipkens  & É. Roger-Vasselin

 

2. Asia Cup 2022 Finals: Sri Lanka won by 23 Runs: Sri Lanka won by 23 runs against Pakistan. Pakistan was left all out by Sri Lanka. Pakistan won the toss and chose to bowl first. Sri Lanka made 170 runs in 20 overs with a loss of 6 wickets. W Hasaranga made 36 runs in 21 balls and Dhananjaya de Silva made 28 runs in 21 balls. Pathum Nissanka and Kusal Mendis were opening batsmen from Sri Lanka, they made 8 runs and 0 runs respectively.

Haris Rauf took 3 wickets against Sri Lanka. Naseem Shah, Shadab Khan, and Iftikhar Ahmed took one wicket each. Rizwan made 55 runs in 49 balls, and Iftikhar Ahmed made 32 runs in 31 balls. Pramod  Madushan took 4 wickets against Pakistan. Wanindu Hasaranga took 3 wickets, Maheesh Theekshana took 1 and Chamika Karunaratne took 2 wickets.

 

BANKING AND FINANCE

 

1. RBI imposes fine on three entities for failing to comply: Three organisations, including Industrial Bank of Korea, have received fines from the Reserve Bank for breaking regulations.

Key Points:

a)      The Reserve bank of India announced that Industrial Bank of Korea has been fined Rs 36 lakh for failing to follow several Know Your Customer (KYC) guidelines.

b)      Woori Bank was fined Rs 59.10 lakh for failing to follow RBI guidelines regarding the “Creation of a Central Repository of Large Common Exposures – Across Banks.”

c)       Indiabulls Commercial Credit Limited, New Delhi, has been fined Rs. 12.35 lakh for failing to follow some KYC directives.

d)      The Reserve Bank did emphasise that the purpose of penalties is not to judge the legality of any transaction or arrangement entered into by the firms with their clients but rather to reflect weaknesses in regulatory compliance.

Note: Woori Bank Chairman: Yo Hwan Shin

Indiabulls Commercial Credit Limited Chairman: Mr. Ajit Kumar Mittal

 

BUSINESS AND ECONOMY

 

1. Vehicle Dispatches Rise 21% As Chip Supply Improves: Passenger vehicle wholesales in India witnessed a 21 per cent annual growth in August, riding on improved supplies of semiconductors and festive demand, according to the Society of Indian Automobile Manufacturers. As per the latest data released by industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) dispatches to dealers stood at 2,81,210 units last month, against 2,32,224 units in August 2021. Passenger car wholesales were up 23 per cent at 1,33,477 units last month, as against 1,08,508 units in the year-ago period, SIAM said.

Growth So For:

a)      Utility vehicle dispatches were higher by 20 per cent at 1,35,497 units in August, as compared to 1,12,863 units in the same month a year ago.

b)      Similarly, total two-wheeler wholesales increased to 15,57,429 units last month, compared to 13,38,740 units in the year-ago period, a growth of 16 per cent.

c)       Motorcycle wholesales grew by 23 per cent at 10,16,794 units in August 2022, as compared to 8,25,849 units in the year-ago month.

d)      Scooter sales were higher by 10 per cent at 5,04,146 units last month, as against 4,60,284 units in August 2021, SIAM said.

e)      Total three-wheeler sales rose to 38,369 units last month, against 23,606 units in August 2021, up 63 per cent.

 

2. Lord’s Mark Insurance receives direct insurance broker’s licence by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI) has given Lord’s Mark Insurance Brokerage Private Limited, the insurance division of Lord’s Mark Industries, a direct insurance broking licence to market life and general insurance products. With this direct broking licence, Lord’s Mark Insurance Industries lays the groundwork for its entry into the insurance sector.

Key Points:

a)      Insurance from Lord’s Mark Insurance in order to formalise relationships for the launch of life and general insurance products on its Policy King platform, broking is already in talks with a few top insurance providers.

b)      Customers may compare all insurance offerings through Policy King’s smartphone app, which can be downloaded and installed. Customers can also get support and professional advice in choosing the best life insurance, term life insurance, health insurance, vehicle insurance, and other insurance options.

The new operating model that Policy King will use to conduct business is based on both a conventional insurance distribution system and a digital client acquisition and engagement system.

 

DEFENCE

 

1. DRDO & Indian Army Successfully Conduct Six Flight-Tests of QRSAM Off Odisha Coast: Defense Research and Development Organization (DRDO) and the Indian Army completed six flight tests of the Quick Reaction Surface to Air Missile (QRSAM) system from Integrated Test Range (ITR), Chandipur, on the Odisha Coast, as part of evaluation trials. Key Points:

a)      QRSAM is a short-range Surface Air Missile (SAM) system, which is designed and developed by the DRDO.

b)      The QRSAM aims to provide a protective shield to the moving armored columns of the Army from aerial attacks.

c)       The six flight tests were carried out against high-speed aerial targets mimicking various types of threats to evaluate the capability of the QRSAM as a short-range Surface Air Missile (SAM) system.

d)      The different threat scenarios include long-range medium-altitude, short-range, high-altitude-maneuvering target, low-radar signature with receding and crossing target, and salvo launch with two missiles fired in quick succession.

e)      These tests were conducted in the final deployment configuration consisting of all indigenously-developed sub-systems, including the missile with indigenous radio frequency seeker, mobile launcher, fully automatic command and control system, surveillance, and multi-function radars.

Daily GK Update- 13th Sep, 2022

 

NATIONAL UPDATES:

 

1. Rajasthan launched 100 days urban employment guarantee scheme: Rajasthan government launched an ambitious scheme to provide 100 days of employment to needy families in urban areas on the lines of the rural employment guarantee scheme MGNREGA. More than 2.25 lakh families have already registered for the Indira Gandhi Urban Employment Scheme which was proposed by chief minister Ashok Gehlot in the state budget this year.

The scheme would cover works like environment protection, water and heritage conservation, garden maintenance, and removing encroachments, illegal sign boards, hoardings, banners etc. Sanitation, cleanliness and other such works will also be undertaken under the scheme.

About the scheme:

a)      The state government has allocated Rs 800 crore for the scheme. Ministers in charge of districts will launch the scheme in their respective areas.

b)      The ratio of material cost and remuneration cost for getting the work approved and executed of “general nature” will be 25:75, while the ratio will be reversed for the works of “special nature”.

c)       Payments will be made in the bank accounts of the beneficiary within 15 days.

d)      Eligibility: People from the age group of 18 to 60 are eligible for the scheme. Interested families will get 100 days of employment. The scheme will be implemented in all the urban local bodies from September 9.

 

2. 300 New Cargo Terminals to Boost Railway Revenue: The Union Cabinet had approved a policy on long-term leasing of Railways’ land as well as a proposal to develop 300 Gati Shakti cargo terminals over the next five years. A senior official said that the Railways expect an incremental revenue of at least ₹30,000 crore per annum from freight services when 300 Gati Shakti cargo terminals will be operational.

The 300 terminals planned by the Union Cabinet are expected to generate employment for 30,000 people directly and 90,000 indirect jobs. The official said, “We will start getting incremental freight revenues as the terminals are developed. Once all 300 are completed, Railways will get additional revenues of at least ₹30,000 crore. This estimate is very conservative.” The approved policy will help provide land leases for a longer period of up to 35 years as against five years at present. It is expected to generate about 1.25 lakh jobs.

 

3. Chhattisgarh CM Inaugurates 2 New Districts in the State, Takes Total To 33: Chief Minister of Chhattisgarh, Bhupesh Baghel inaugurated the 32nd and 33rd districts of the State. Manendragarh-Chirmiri-Bharatpur and Sakti were announced as the 32nd and 33rd districts of Chhattisgarh. Sakti is carved out from Janjgir-Champa, and Manendragarh-Chirmiri-Bharatpur is carved out from the Koriya district.

The Chattisgarh Chief Minister said that people have been demanding the creation of the Manendragarh district for a very long time and it has been a long-term struggle to create Manendragarh as a district. Three new districts have been inaugurated in Chattisgarh by the Chief Minister. There are now, 33 districts in Chattisgarh including Mohla-Manpur-Ambagarh Chowki, Sarangarh-Bilaigarh, and Khairagarh-Chhuikhadan-Gandai.

 

4. Bihar CM inaugurated India’s longest rubber dam on Falgu River: Bihar Chief Minister, Nitish Kumar has inaugurated India’s longest rubber dam ‘Gayaji Dam’ on the Falgu River in Gaya. The dam has been built at an estimated cost of Rs 324 crore. Experts from IIT (Roorkee) were involved with the project. There will be enough water in the dam round the year for the convenience of pilgrims. With its construction, now at least two feet of water will be available in the Falgu River near Vishnupad Ghat throughout the year for the devotees who come here to do Pind Daan. About the dam:

a)      The rubber dam on the Falgu River, which is a vast stretch of sand dunes, it will draw more pilgrims and change the landscape. The dam, aimed at providing uninterrupted water supply to Vishnupad Temple in Gaya throughout the year.

b)      Designed by experts from IIT Roorkee, the dam is 411 meters long, 95.5 meters wide and 3 meters high. Apart from the rubber dam, the banks along the Falgu River have also been developed and a steel bridge has been built for pilgrims to visit Sita Kund.

c)       The Falgu river has water only in the monsoon season and remains dry for the remaining period. The dam will ensure water storage in the river throughout the year, helping the pilgrims who visit the place for Pind Daan (ritual to offer homage to departed souls).

Note: Bihar Capital: Patna; Bihar Chief Minister: Nitish Kumar; Bihar Governor: Phagu Chauhan.

 

5. Dinesh Kumar Batra takes charge as CMD, Bharat Electronics Limited: Dinesh Kumar Batra, Director (Finance) & CFO, has taken additional charge as Chairman & Managing Director (CMD) of Navratna Defence PSU Bharat Electronics Limited (BEL) with effect from September 1, 2022. He was instrumental in the company’s move to foray into the Electro-Explosive segment. He is also credited with BEL entering into Li-on battery packs for automobiles to support the e-Mobility programme of the Government of India. He is a member of the Board of BEL subsidiaries, BEL-Thales Systems Limited (BTSL) and BEL Optronic Devices Limited (BELOP).

Note: Bharat Electronics Limited Headquarters: Bengaluru, Karnataka; Bharat Electronics Limited Founded: 1954.

 

INTERNATIONAL UPDATES:

 

1. U.S. Announced 450 Million $ Package to Pakistan: The Biden Administration has approved a whopping USD 450 million F-16 fighter jet fleet sustainment programme to Pakistan. As a notification to the US Congress, the State Department has made a determination approving a possible foreign military sale of F-16 case for sustainment and related equipment for an estimated cost of USD 450 million, arguing that this will sustain Islamabad’s capability to meet current and future counterterrorism threats by maintaining its F-16 fleet.

This is the first major security assistance to Pakistan after Trump in 2018 had announced to stop all defense and security assistance to Pakistan alleging that Islamabad was not a partner in its fight against terrorism.  What The U.S. Said:

a)      According to the Congressional notification, the proposed sale does not include any new capabilities, weapons, or munitions. It said that Pakistan has requested to consolidate prior F-16 sustainment and support cases to support the Pakistan Air Force F-16 fleet by reducing duplicate case activities and adding additional continued support elements.

b)      The USD 450 million foreign military sale to Pakistan participation in F-16 Aircraft Structural Integrity Programme, electronic combat international security assistance programme, international engine management programme, engine component improvement programme, and other technical coordination groups; aircraft and engine hardware and software modifications and support and aircraft and engine spare repair/return parts.

c)       The Pentagon said this proposed sale will support the foreign policy and national security objectives of the United States by allowing Pakistan to retain interoperability with US and partner forces in ongoing counterterrorism efforts and in preparation for future contingency operations.

 

2. NASA’s Experiment MOXIE successfully creates oxygen on Mars: An gadget the size of a lunchbox (MOXIE by NASA) is demonstrating its ability to consistently carry out the work of a tiny tree on the red and dusty surface of Mars, some 100 million miles from Earth. Since April 2021, roughly two months after it landed on the Martian surface as part of NASA’s Perseverance rover and Mars 2020 mission, the MIT-led Mars Oxygen In-Situ Resource Utilization Experiment, or MOXIE, has been producing oxygen from the Red Planet’s carbon-dioxide-rich atmosphere. Key Points:

a)      Researchers say that by the end of 2021, MOXIE was able to manufacture oxygen on seven experimental runs, in a variety of atmospheric circumstances, including day and night and throughout the Martian seasons, according to a paper published in the journal Science Advances.

b)      The instrument produced six grammes of oxygen per hour on each run, or roughly the same amount as a small tree on Earth.

c)       According to researchers, a scaled-up MOXIE may be transported to Mars before a human trip to create oxygen continually at the rate of several hundred trees.

d)      At that capacity, the system should be able to produce enough oxygen to support people once they arrive as well as power a rocket for astronauts returning to Earth.

e)      As of now, MOXIE’s consistent output represents a positive first step in that direction.

f)        This is the first instance of utilising materials from the surface of another planetary body and chemically converting them into something useful for a human mission.

 

3. International PCOS Awareness Month: 1st to 30th September: The month of September is recognized as International PCOS Awareness Month. Polycystic ovary syndrome (PCOS) is a common hormonal disorder in women that is also the leading cause of female infertility. Polycystic ovary syndrome (PCOS) is a serious genetic, hormone, metabolic and reproductive disorder that affects women and girls. It is the leading cause of female infertility and a precursor for other serious conditions including obesity, type 2 diabetes, cardiovascular disease and endometrial cancer.

 

OTHER UPDATES:

 

SPORTS

 

1. Australia Captain Aaron Finch to Retire from ODI Cricket: Aaron Finch, Australia’s captain announced his retirement from one-day international cricket after Australia’s third and final ODI against New Zealand. Finch will continue to be the captain of the Australian cricket team for T20 and will lead it in defense of its world title in the T20 World Cup which is going to be held in October and November in Australia. Finch is known as one of the most damaging opening batters in the world, Finch has scored 5,401 runs in the ODI format with an average of close to 40, and 17 centuries.

 

BANKING AND FINANCE

 

1. HDFC Bank unveils ‘Bank on Wheels’ in Gujarat: HDFC Bank has unveiled its state-of-the-art ‘Bank on Wheel’ van in Gujarat. The Bank in Wheel van service will take banking services to unbanked villages. The Bank in Wheel van will visit remote villages located 10-25 km from the nearest branch to further financial inclusion, under the HDFC Bank’s newly initiated Rural Banking Business.

‘Bank on Wheel’: The Bank in Wheel initiative is a part of a pilot project to offer banking services in unbanked locations. Customers can access 21 banking products as well as services. The Bank in Wheel van will be operational at each location for a specific period and will cover 3 villages in a day. The Bank in Wheel van will reach and visit each village twice a week. HDFC Bank is one of India’s Premier Banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network.

 

BUSINESS AND ECONOMY

 

1. Agribazaar Launches Kisan Safalta Card for Agri Financing: Agribazaar is a private sector electronic Agri mandi, launched ‘Agribazaar Kisan Safalta Card’. The Agribazaar Kisan Safalta Card is a quick and easy way to help farmers to meet their pre- and post-harvest farm requirements and allied expenses. Farmers can use Agribazaar Kisan Safalta Card to get financing. The funds provided can only be used to buy farm inputs and requirements.

Key Points:

a)      The card has a 12-month repayment period, which provides enough time to pay off the balance. The crop yield of each farmer determines the card’s limit, the financing scale, and maintenance costs.

b)      The amount of the card is adjustable for marginal farmers, which ranges from ₹10,000 to ₹50,000. The maximum limit of the Agribazaar Kisan Safalta Card can be increased annually based on crop yield and repayments.

c)       The repayment plan can be rescheduled if crop damage occurs as a result of natural disasters.

d)      Once the harvest is completed, farmers can repay the loan.

 

2. Indian FMCG company Pintola named Sunil Chhetri as Brand Ambassador: Indian superfood brand Pintola, Fast­moving consumer goods (FMCG) company announced a renowned Indian Football Captain, Sunil Chhetri as Brand Ambassador. He was appointed as Pintola Brand Ambassador for his similar values of consistency and perfection with the company to promote the idea of a healthier India to this generation.

In 20 years of Sunil’s professional career, this was his 1st ever FMCG collaboration. Pintola and Sunil Chhetri’s collaboration shall open newer realms of healthy eating options in the country, adding sports enthusiasts to its existing wide consumer base. Pintola boasts of a premium basket size of 21 products and aims to cater to a consumer size of 100 Million in the near future.

 

AWARDS AND HONOURS

 

1. Singapore awarded ‘Meritorious Service Medal’ to Lamba, Former Navy Chief of India: Former India Chief of Naval Staff, Admiral Sunil Lanba has been conferred Singapore’s prestigious military award, the Pingat Jasa Gemilang (Tentera) or Meritorious Service Medal (Military) (MSM(M)), by President Halimah Yacob. Admiral Lanba has been conferred the award for his outstanding contributions in enhancing the strong and long-standing bilateral defence relationship between the Indian Navy and the Republic of Singapore Navy.

Under Lanba’s leadership:

a)      Both navies concluded the Bilateral Agreement for Navy Cooperation in November 2017 and the Implementing Arrangement for Mutual Coordination, Logistics and Services Support in June 2018, which established the framework for greater Navy-to-Navy interactions and expanded collaboration in areas of mutual interest such as submarine rescues, maritime-security information-sharing and logistics support.

b)      With Lanba’s support, both navies also commemorated the Silver Jubilee of the Singapore-India Maritime Bilateral Exercise in 2018 and successfully conducted the inaugural Singapore-India-Thailand Maritime Exercise (SITMEX) in September 2019. These professional exchanges have strengthened interoperability and deepened mutual understanding and trust between personnel from both militaries.

Daily GK Update- 12th Sep, 2022

NATIONAL UPDATES:

 

1. India’s first RRTS corridor to use an app-based token-free ticketing system: The nation’s first Regional Rapid Transit System (India’s first RRTS corridor), the Delhi-Meerut RRTS line, would incorporate an automatic fare collection (AFC) system and tickets with QR codes for riders. In order to purchase the AFC system, the National Capital Region Transport Corporation (NCRTC) recently announced that it has requested bids in accordance with the Modi administration’s “Make In India” standards. Key Points:

a)      The contactless method of entry and exit will be seamless, comfortable, simple, and quick with the AFC system. The NCRTC will also offer QR code tickets, which can be generated digitally on a website or mobile application.

b)      Commuters will be able to purchase paper QR tickets from ticket vending machines for a single trip between two stations, similar to the token system used by the Delhi Metro.

c)       EMV (Europay, Mastercard, Visa) Open Loop contactless cards based on NCMC standards will also be accepted on the Delhi-Meerut RRTS route. All NCMC cards issued by Indian metro networks, transportation authorities, and banking institutions would be accepted by RRTS passengers.

 

2. Tamil Nadu Government launched “Pudhumai Penn Scheme” for girl students: Tamil Nadu Chief Minister M.K. Stalin has launched the Moovalur Ramamirtham Ammaiyar Higher Education Assurance scheme titled ‘Pudhumai Penn’ at a function in Chennai, in the presence of Delhi Chief Minister Arvind Kejriwal. Mr Kejriwal also unveiled 26 schools of excellence and 15 model schools set up by the Tamil Nadu government emulating the model by his AAP government in Delhi. Under Pudhumai Penn:

a)      Pudhumai Penn scheme, girl students, who studied from Class V to Class XII in state government schools would be paid monthly assistance of Rs 1,000 till they complete their graduation or diploma.

b)      The scheme aims to benefit six lakh girls every year and Rs 698 crore has been allocated in the budget for its implementation.

c)       Stalin said after his government came to power, keeping in mind changing needs, the Moovalur Ramamirtham Ammaiyar Marriage Assistance scheme was converted into the Moovalur Ramamirtham Ammaiyar Higher Education Assurance scheme, now implemented as the Pudhumai Penn scheme, for the benefit of economically-weaker families who are not able to send their girl children to colleges due to financial constraints.

d)      Stalin also said Rs 25 crore will be allocated to Bharathi Women’s College for constructing new classrooms and developing infrastructure facilities.

 

3. President Droupadi Murmu to launch ‘TB Mukt Bharat Abhiyaan’: President Draupadi Murmu launched the Pradhan Mantri TB Mukt Bharat Abhiyaan virtually. The Pradhan Mantri TB Mukt Bharat Abhiyaan aims to eliminate tuberculosis from India by 2025. Prime Minister Narendra Modi has given a distinctive call to end TB in India giving years ahead of the Sustainable Development Goal (SDG) of 2030.

Along with this Presentation, President also launched the Ni-Kshay Mitra initiative which forms a vital component of the Campaign. The Ni-Kshay Mitra initiative will provide a platform for the donors to help TB patients who are undergoing treatment. The donors will be called Ni-Kshay Mitras, and the donation will include nutritional, additional diagnostic, and volcanic support. The event highlights the need for a societal approach that brings together people from all backgrounds to eliminate TB from the country by 2025.

 

4. CJI inaugurated NALSA Centre for Citizen Services: The National Legal Services Authority (NALSA) Centre for Citizen Services, was inaugurated by Chief Justice of India Uday Umesh Lalit. The space at Jaisalmer House which was provided to NALSA would be utilised for the establishment of Legal Assistance Centre for Citizens, Legal Assistance Centre for NRIs, Training Centre, and Digital Command Centre for providing futuristic legal services across the country.

About the NALSA: The NALSA has been constituted under the Legal Services Authorities Act, 1987 to provide free Legal Services to the weaker sections of the society. Its purpose is to provide free legal services to eligible candidates, and to organize Lok Adalats for the speedy resolution of cases. While the CJI is the Patron-in-Chief, the second senior most judge of the Supreme Court of India is the executive chairperson of the Authority.

Note: NALSA Founded: 9 November 1995; NALSA Headquarters location: New Delhi; NALSA Motto: Access to Justice for All.

 

5. Airtel partnered with Odisha to offer Bill Payment Solution: Bharti Airtel has launched a pilot project in partnership with the TP Northern Odisha Distribution to offer bill payment solutions to more than 2 million customers. The pilot project will be mobilized to 4000 Airtel Payment Banks (APBs) in northern Odisha to facilitate the bill payments. The company’s ambition is to scale the project across Odisha and eventually partner with other state electricity boards for similar solutions said the Airtel IQ Business head Abhishek Biswal. The project is currently at the National Payments Corporation of India certification stage. The certification will ensure that the project has minimal risk of digital fraud.

 

6. 3 Indian cities join UNESCO network of learning cities: Warangal and two cities from Kerala have joined the UNESCO Global Network of Learning Cities (GNLC) in recognition of their outstanding efforts to make lifelong learning a reality for all at the local level. Warangal in Telangana, Thrissur and Nilambur are among the 77 cities from 44 countries which have joined this network of the world body. Other cities that have joined the network are the Ukrainian capital Kyiv, Durban in South Africa and Sharjah in the United Arab Emirates (UAE) among others. The 77 new members bring the total number of cities within the UNESCO GNLC to 294 in 76 countries.

 

INTERNATIONAL UPDATES:

 

1. U.S. Marks the 21st Anniversary of 9/11 Horrific Incident: Americans remembered 9/11 on 11th Sept with readings of victims’ names, volunteer work and other tributes 21 years after the deadliest terror attack on US soil. A tolling bell and a moment of silence began the commemoration at ground zero in New York, where the World Trade Center’s twin towers were destroyed by the hijacked-plane attacks of Sept. 11, 2001. Victims’ relatives and dignitaries also convened at the two other attack sites, the Pentagon and a field in Pennsylvania.

Other communities around the country are marking the day with candlelight vigils, interfaith services and other commemorations. Some Americans are joining in volunteer projects on a day that is federally recognized as both Patriot Day and a National Day of Service and Remembrance. More than two decades later, Sept. 11 remains a point for reflection on the attack that reconfigured national security policy and spurred a U.S. war on terror worldwide.

 

2. MEA: Sanjay Verma appointed as next high commissioner of India to Canada: Senior diplomat Sanjay Kumar Verma has been appointed as India’s next high commissioner to Canada. He succeeds Acting High Commissioner Anshuman Gaur. Verma is a 1988 batch officer of the Indian Foreign Service and is currently the ambassador of India to Japan. Among other postings, Verma has served in Indian missions in Hong Kong, China, Vietnam and Turkey. He has also served as Consul General of India in Milan, Italy.

Another appointment: Amit Kumar, currently Consulate General of India in Chicago, has been named as the next ambassador to the Republic of Korea. Amit Kumar, who joined the Indian Foreign Service in 1995, was earlier the Deputy Chief of Mission in the Embassy of India, Washington DC with Ambassador rank.

 

3. India & UK Conducts Counter Ransomware Exercise for 26 Nations: The National Security Council Secretariat (NSCS) and the UK government has jointly conducted the virtual Cyber Security Exercise for 26 countries. The exercise is a part of the India-led International Counter Ransomware Initiative- Resilience Working Group, facilitated by the British Aerospace (BAE) Systems. These companies are responsible for the distribution of electricity to domestic customers and are the last link to the public supply. The exercise explores the complexity of decision-making around response to ransomware on Critical National Infrastructure.

Key highlights:

a)      All 26 invitees for the exercise are from CRI Partner Nations and their respective organisations that includes Cyber Security, National Crisis Management, National Security Policy, Critical National Infrastructure and Law Enforcement Agencies.

b)      The scenarios are written specifically for the participants based on Threat Intelligence and operational experiences.

 

4. United Nations Day for South-South Cooperation: 12th September: The United Nations Day for South-South Cooperation is observed annually on September 12 to highlight the importance of cooperation among people and countries in the global South. The day also aims at spreading awareness on the social, economic, and political developments made in the Southern region.

United Nations Day for South-South Cooperation History: The United Nations Conference on Technical Cooperation among Developing Countries adopted the Buenos Aires Plan of Action for Promoting and Implementing Technical Cooperation among Developing Countries (TCDC) on September 12, 1978. Delegations from 138 states had reached a consensus to adopt TCDC and named it after Argentina’s capital of Buenos Aires where the conference was held. Later, the United Nations General Assembly designated September 12 as the United Nations Day for South-South Cooperation.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. PNB MetLife launched new unit-linked insurance plan: PNB MetLife has launched a new ULIP plan PNB MetLife Goal Ensuring Multiplier (GEM) that offers customers life insurance coverage and helps them invest methodically with the goal of creating wealth for the future. Customers can choose from 13 different funds to best fit their risk appetite and can also opt for goal-based fund management strategies. The plan also has a top-up feature that allows customers to enhance their coverage and accelerate their savings goals.

 

2. ESAF Bank launched ‘rainbow account’ for transgender community: ESAF Small Finance Bank Limited has launched a ‘Rainbow Savings Account’ exclusively for the transgender community. The ‘Rainbow Savings Account scheme comes with a high-interest rate and advanced debit card facilities. The Reserve Bank of India in 2015 directed banks to include a separate column ‘third gender’ in all their forms and applications. Many transgenders from different parts of Kerala participated in the launch of Rainbow Savings Account’s logo event, which was organized in association with the Navodaya Movement.

Note: ESAF Small Finance Bank Founded: 10 March 2017; Founders: Paul Thomas, Mereena Paul, Jacob Samuel; Headquarters: Thrissur, Kerala

 

3. IDBI Bank re-appointed as Deputy MD of S Jebaraj for 3 years: IDBI Bank has announced the reappointment of Samuel Joseph Jebaraj as the Deputy Managing Director (DMD) on the Board of the Bank for a period of 3 years. The board of directors has jointly approved the appointment. The reappointment is with effect from September 20, 2022.

Note: IDBI Bank Founded: 1 July 1964; Headquarters: Mumbai; MD and CEO: Rakesh Sharma

 

BUSINESS AND ECONOMY

 

1. LIC Introduces Non-participating, Unit-linked New Pension Plus Plan 867: Life Insurance Company (LIC) introduced a new plan, LIC New Pension Plus 867. The LIC New Pension Plus 867 is a non-participating, unit-linked insurance plan that again comes with “guaranteed addition”. The plan indicates that the LIC New Pension Plus 867 will provide guaranteed additions between 5% to 15% of the yearly premium. LIC New Pension Plus 867: Features

a)      The LIC New Pension Plus 867 is a unit-linked pension plan which aims for building a corpus with systematic conversion into regular income on retirement after taking the annuity plan.

b)      Customers can also take immediate or deferment pension options.

c)       The pension plan provides an option to extend the accumulation period or deferment period within the same policy with the same terms and conditions.

d)      The pension plan can be taken with a single premium or regular premium option.

e)      The investor can invest in four different funds available for them.

f)        The plan offers guaranteed additions of 5% to 15.5% of the yearly premium at specific intervals.

g)      Partial withdrawal of the unit is allowed 3 times in a policy period.

h)      Investors can purchase this plan online or through online or offline mode from agents or by visiting the nearest LIC branches.

 

AWARDS AND HONOURS

 

1. Hindi writer Dr. Asghar Wajahat awarded with 31st Vyas Samman: The 31st Vyas Samman was conferred on to well-known Hindi writer Dr Asghar Wajahat at a function in New Delhi. He has been chosen for the prestigious award for his play Mahabali. In his play Mahabali, Dr. Wajahat focuses on Mughal emperor Akbar and poet Tulsidas. Through the play, he attempts to answer who is the real Mahabali, the poet or the emperor.

About Vyas Samman:

a)      The Vyas Samman is given by K K Birla Foundation for outstanding literary work in Hindi authored by an Indian citizen published during the last 10 years.

b)      It carries an award of Rs 4 lakh along with a citation and a plaque. It was initiated in 1991.

c)       Ram Vilas Sharma received the inaugural Vyas Samman in 1991 for his work ‘Bharat ke Pracheen Bhasha Parivar aur Hindi’.

d)      Professor Sharad Pagare was honoured with 30th Vyas Samman for his novel titled ‘Patliputra ki Samragi’.

 

OBITUARIES

 

1. Padma Shri awardee artist Ram Chandra Manjhi passes away: Padma Shri awardee Ramchandra Manjhi, whose performance in Bhojpuri folk dance ‘Naach’ for eight decades, has passed away. He was a famous performer of ‘Launda Naach’, a sub-set of ‘Naach’, in which men crossdress as women. His passion for the dance form even in old age has brought him several honours, including Sangeet Natak Akademi Award (2017) and Padma Shri (2021). He was one of the members of the original troupe of Bhikhari Thakur, known as Shakespeare of Bhojpuri language.

 

2. Chief Justice of India with the shortest tenure, Kamal Narain Singh passes away: Former Chief Justice of India Kamal Narain Singh passed away, at the age of 95. Justice Narain had a tenure of only 17 days as the CJI, making him the chief justice with the shortest tenure. He was the 22nd Chief Justice of India, with a term from November 25, 1991, to December 12, 1991.

Born on December 13, 1926, his career as a judge started with his appointment as an Additional Judge of the Allahabad High Court in 1970. He then became a Permanent Judge in August 1972. He got elevated as a Supreme Court judge in 1986 and, after almost five years, became the CJI. He also served as Chairman of the 13th Law Commission of India from 1991-1994. Late Justice Narain was part of several important judgments, including the Ganga Pollution case, the case challenging the validity of a death sentence, etc.