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Wednesday, October 5, 2022

Daily GK Update- 5th Oct, 2022

NATIONAL UPDATES:

 

1. Centre extends AFSPA in Nagaland and Arunachal Pradesh for further 6 months: The Armed Forces (Special Powers) Act, or AFSPA, has been applied to 12 districts in Nagaland and Arunachal Pradesh for an additional six months, according to the federal government. In order to aid the military forces in carrying out the anti-insurgency operations, it has also been expanded in some areas of five more districts of the two northeastern states. Key Points:

a)      The AFSPA will be extended for six months starting in nine districts of Nagaland: Dimapur, Niuland, Chumoukedima, Mon, Kiphire, Noklak, Phek, and Zunheboto.

b)      The AFSPA will be also extended for six months starting in 16 police station areas in four additional districts: Kohima, Mokokchung, Longleng, and Wokha.

c)       This was announced in a notification by the Home Ministry.

d)      On March 31, Union Home Minister Amit Shah said that Assam, Nagaland, and Manipur would no longer use the AFSPA as of April 1.

About AFSPA: The Armed Forces (Special Powers) Act (AFSPA), passed by the Indian Parliament in 1958, gives the Indian Armed Forces special authority to uphold law and order in disturbed areas. The Disturbed Areas (Special Courts) Act of 1976 states that once an area is designated as “disturbed,” it must remain that way for at least six months. One such law, which was passed on September 11, 1958, applied to the Naga Hills, which were then a part of Assam. It gradually expanded to the other Seven Sister States in northeastern India during the next decades.

 

2. Telangana government hikes ST reservation 6% to 10%: The Telangana government issued an order to increase the reservation for the Scheduled Tribe communities from 6 percent to 10 percent. The order issued by the Tribal Welfare Department informed that the enhanced reservations would apply in the educational institutions and to services under the state government with immediate effect. Key Points:

a)      In 2017, the Telangana Assembly passed a bill enhancing the reservation of the ST population to 10 percent. In the same year, the bill was sent to the Government of India for the assent of the President. After six years it was still pending despite several representations from the state government.

b)      The state government ordered to enhance the reservation to be brought to force with immediate effect.

c)       The latest order has increased the reservation for various sections in the state up to 54 percent.

d)      Chief Minister K Chandrasekhar Rao has announced the increase of the ST Quota to 10 percent.

e)      The reservation report, highlights the fact that the ST population has risen more compared to others since 1986 when 6 percent reservation was announced.

 

3. Tamil Nadu and Maharashtra topped destinations for foreign tourists 2021: As per a report by Union Tourism Ministry, Maharashtra and Tamil Nadu had the highest numbers of foreign tourist visits, with 1.26 million and 1.23 million, respectively in 2021. The over 280-page report titled ‘India Tourism Statistics 2022’ was released by Vice-President Jagdeep Dhankhar on World Tourism Day at Vigyan Bhawan in New Delhi. India received 677.63 million domestic tourist visits in 2021, an increase of 11.05 per cent from 610.22 million in 2020, the report said.

Some key points in the report:

a)      The report said due to restrictions related to COVID-19, “the number of foreign tourist arrivals (FTAs) in India during 2021 decreased to 1.52 million as compared to 2.74 million in 2020, registering a negative growth of 44.5 per cent”.

b)      The total number of foreign visitors for 2021-22 was 3,18,673, declining 23.4 per cent on year from 4,15,859 in 2020-21, according to the data.

c)       Sharing data about the footfall at various sites under the Archaeological Survey of India (ASI), the report said the Taj Mahal was the most popular centrally-protected ticketed monument for domestic visitors in 2021-22, while the Group of Monuments at Mamallapuram in Tamil Nadu was the most visited centrally-protected ticketed monument for foreign visitors during the same period.

d)      The two states with the most domestic tourists visiting are Tamil Nadu and Uttar Pradesh with 140.65 million and 86.12 million, respectively.

e)      The Taj Mahal, a UNESCO world heritage site, was among the 10 most popular centrally-protected ticketed monuments for domestic visitors in 2021-22, according to the report.

f)        While the Mughal-era mausoleum ranked first, the Red Fort and the Qutub Minar, both UNESCO-recognised sites in Delhi, were the second and third most visited sites, respectively, for the period.

 

4. Shashi Tharoor explores different strands of Ambedkar’s life: Shashi Tharoor, a congress leader announced to write a biography of BR Ambedkar next month. The book will be published by Aleph and it will provide insights into the legendary leader’s life and times.

Key Points: The book will show the leader’s disputes with the legendary politicians and freedom fighters, namely, Jawaharlal Nehru and Mahatma Gandhi. The book will be known as “Ambedkar: A Life”. Shashi Tharoor claims to answer the question of whether Ambedkar was the greatest Indian of modern times or not through the book. The book will emphasize the “Humiliation and hurdles” faced by Ambedkar to overcome in society.

 

5. Sunil Barthwal take charges as Secretary in Department of Commerce: Senior IAS officer, Sunil Barthwal assumed charge as the commerce secretary. Barthwal, a 1989-batch officer of the Bihar cadre, previously served as the labour and employment secretary. He replaced Subrahmanyam, a 1987-batch IAS officer of the Chhattisgarh cadre, who was appointed as chairman and managing director, of the India Trade Promotion Organisation on a contract basis for a period of two years following his superannuation.

 

INTERNATIONAL UPDATES:

 

1. Vladimir Putin Declares Annexation of 4 Ukrainian Regions by Russia: Vladimir Putin has declared the Annexaton of 4 Ukrainian regions by Russia namely Donetsk, Luhansk, Kherson and Zaporizhia. The West has denounced the annexation of occupied Ukrainian territory by Russia as an illegitimate land grab after Russian President Vladimir Putin signed treaties. The president of Ukraine, Zelenskyy responded by unexpectedly submitting an application to join the NATO armed alliance. Vladimir Putin ‘s action and President Volodymyr Zelenskyy‘s signature of what he called an expedited NATO membership application sent the two leaders hurtling toward each other, raising the possibility of a full-scale battle between Russia and the West. Key Points:

a)      At a Kremlin signing ceremony, Vladimir Putin reaffirmed his warning to use “all possible means” to safeguard the recently acquired parts of Ukraine.

b)      Vladimir Putin again raged angrily against the West, charging that the United States and its allies wanted to destroy Russia.

c)       Zelenskyy then organised his own signing ceremony in Kyiv and made a video of him signing what he claimed to be a legitimate application for NATO membership.

d)      Vladimir Putin has made it quite obvious that any possibility of Ukraine joining the military alliance is one of his red lines and has used it as justification for his invasion, which has been going on for eight months and is the largest land conflict in Europe since World War II.

 

2. Breast Cancer Awareness Month: 1st to 31st October: Every year Breast Cancer Awareness Month (BCAM) is observed in the month of October, from 01 to 31. The annual international health campaign aims to increase awareness of the disease and to raise funds for research into its cause, prevention, diagnosis, treatment and cure. The pink ribbon is an international symbol of breast cancer awareness. An annual campaign to raise awareness of this complex disease and fund research into its causes, treatment, and cure. Since 1985, individuals, businesses, and communities have come together every October to show their support for the many people affected by breast cancer.

Breast Cancer Awareness Month History: Breast Cancer Awareness Month, held in October every year, was created in 1985, and founded by the American Cancer Society and the Imperial Chemical Industries Pharmaceuticals (later part of AstraZeneca).

 

3. World Teachers’ Day: 5th October: World Teachers’ Day or International Teachers’ Day is observed every year on October 5. This is a day to celebrate, thank and honour teachers for their contributions to their students. On this day, many also come together and organise meetings, conferences and such to identify problems being faced by teachers of the country as well as globally and find solutions to those issues. This year marks the 28th anniversary of World Teachers’ Day and the theme is “The Transformation of Education Begins with Teachers”.

World Teachers’ Day History: Set up in 1994 after the UNESCO Recommendation concerning teachers, the day celebrates the marking of “teaching in freedom” in 1996. October 5 was proclaimed as World Teachers’ Day by UNESCO in 1994, with the aim of honouring the adoption of UNESCO/ILO Recommendation. After the adoption of this recommendation, the United Nations Educational, Scientific and Cultural Organization (UNESCO) declared October 5 to be World Teachers’ Day. World Teachers’ Day acknowledges the anniversary of the adoption of the 1966 International Labour Organization (ILO)/United Nations Educational, Scientific and Cultural Organization (Unesco) recommendation concerning the status of teachers. The recommendation concerning the status of higher education teaching personnel was adopted in 1997 to complement the 1966 recommendation.

Note: Director-General International Labour Organization (ILO): Gilbert Houngbo; International Labour Organisation Founded: 1919; International Labour Organisation Headquarters: Geneva, Switzerland.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Airtel Payments Bank rolling out 1.5 lakh micro ATMs this fiscal: Airtel Payments Bank has started rolling out 1.5 lakh micro ATMs in a phased manner across tier 2 cities and semi-urban regions to facilitate cash withdrawal for its customers. The Bank will gradually expand its service to cover more banking points in a phased manner. The bank will leverage its strong network of over 5 lakh banking points across India to give users access to easy cash withdrawals through this initiative, it added. The company has plans to finish the rollout of 1.5 lakh micro ATMs by the end of the current fiscal. Airtel Payments Bank is now integrated with the National Payments Corporation of India’s (NPCI) – National Financial Switch (NFS) to facilitate micro ATM transactions. Benefits of Micro ATMs:

a)      Airtel Payments Bank customers will be able to withdraw up to Rs 10,000 per transaction through the Micro ATMs.

b)      The micro ATMs will be handled by Banking Correspondents (BCs) who will initiate the transaction by entering the withdrawal amount.

c)       The customer will then insert their debit card into the device and enter the PIN to confirm the transaction.

d)      The BC will authorise the transaction by entering their MPIN to complete the transaction.

Note: Airtel Payments Bank Founded: January 2017; Airtel Payments Bank Headquarters: New Delhi; Airtel Payments Bank Managing Director & CEO: Anubrata Biswas.

 

BUSINESS AND ECONOMY

 

1. Amazon launches ‘AmazeWIT Circles’ to upskill women in technology: Amazon India has launched ‘AmazeWIT Circles’, to reiterate its commitment to upskilling and providing meaningful career opportunities to women in the technology space. The ‘AmazeWIT Circles’ is a dedicated networking event to educate women and make them industry ready for careers in technology. The ‘AmazeWIT Circles’ is curated for tenured Software Development Engineers and is led by technology leaders at Amazon who cover topics relevant to technical upliftment and sustained career development. Key Points:

a)      The ‘AmazeWIT Circles’ is a cohort-based connect that helps women to refine their skills and address the challenges faced by working women.

b)      The ‘AmazeWIT Circles’ program includes leadership sessions from technical experts at Amazon and women leaders.

c)       The program focuses on topics ranging from data structures, coding, algorithms, and more.

d)      Women will also women Amazonians to emulate and carry forward in their careers.

 

2. Reliance Jio Chairman Akash Ambani listed on Time’s 100 Emerging Leaders’: Reliance Jio Chairman Akash Ambani, son of billionaire Mukesh Ambani, has been named by TIME magazine in the TIME100 Next list that recognises “rising stars from across industries and around the world. Significantly, he is the only Indian to be featured on the list this year. However, there is another Indian-born American business leader, subscription social platform OnlyFans’ Indian-origin CEO Amrapali Gan, on the list as well.

Other listed persons: The list highlights 100 emerging leaders who are shaping the future of business, entertainment, sports, politics, health, science and activism, Time said. The list also features the likes of American singer SZA, actress Sydney Sweeney, basketball player Ja Morant, Spanish tennis player Carlos Alcaraz, actor and television personality Keke Palmer, and environment activist Farwiza Farhan.

 

3. Top 25 startups in India listed by LinkedIn: The world’s largest online professional network, LinkedIn has released its 2022 LinkedIn Top Startups List for India, revealing the top 25 startups that have shown resilience in an uncertain market environment, and are continuing to innovate in 2022. To compile this year’s list, LinkedIn looked at platform data from July 2021 to June 2022 across four pillars: employee growth; jobseeker interest; member engagement within the company and its employees; and how well these startups pulled talent from its flagship LinkedIn Top Companies list. Key Points:

a)      Topping this year’s list is the unified payment interface CRED (#1). Valued at $6.4 billion, this young startup maintained its podium position on the LinkedIn Top Startups list, moving from #3 in 2021 to #1 in 2022.

b)      The next highest placing businesses on the list include upGrad (#2), one of India’s largest online higher education companies that curates vast upskilling opportunities for professionals and college students, followed by Groww (#3), an online investment platform that provides an objective evaluation of various investment opportunities through stocks and mutual funds.

Here’s a list of the 25 companies that made it to the LinkedIn Top Startups 2022 India list, in order of ranking:

Sr. No.

Company

Sr. No.

Company

1

CRED

13

Simpl

2

upGrad

14

Rapido

3

Groww

15

Classplus

4

Zepto

16

Park+

5

Skyroot Aerospace

17

BlissClub

6

MBA Chai Wala

18

DealShare

7

Spinny

19

Ultrahuman

8

The Good Glamm Group

20

Living Food

9

GrowthSchool

21

FamPay

10

BluSmart

22

AgniKul Cosmos

11

ShareChat

23

Stanza Living

12

Ditto Insurance

24

Pocket FM

25

Zypp Electric

 

DEFENCE

 

1. Domestically built LCH Prachanda officially introduced in the IAF by Raksha Mantri: At a ceremony conducted at Air Force Station, Jodhpur in Rajasthan, Defence Minister (Raksha Mantri) Rajnath Singh officially admitted the locally produced Light Combat Helicopters (LCH) Prachanda into the Indian Air Force (IAF). LCH would join the 143 Helicopter Unit after being inducted. Prachanda is the name given to LCH. Speaking at the occasion, Mr. Rajnath Singh, Raksha Mantri stated that the addition of Light Combat Helicopters (LCH) not only strengthens the Air Force’s combat capabilities but also represents a significant step towards the achievement of Atmanirbhar Bharat. Key Points:

a)      LCH is a product of Hindustan Aeronautics Ltd. (HAL). It is a cutting-edge contemporary combat helicopter that was particularly created for use in high-altitude environments.

b)      The Light Combat Helicopters (LCH) assault helicopter is the only one in the world that can land and take off at 5,000 metres while carrying a sizable load of ammunition and fuel.

c)       Two Shakti engines power this helicopter, which also has crash-worthy landing gear, stealth characteristics, all-weather combat capabilities, armour protection, and night assault capabilities.

d)      Due to its thin fuselage and tandem cockpit design, Light Combat Helicopters (LCH) is incredibly nimble and manoeuvrable. Its stealth characteristics, such as a small radar cross section and a low infrared signature, enable it to sneak behind enemy lines and launch a targeted strike.


Tuesday, October 4, 2022

Daily GK Update- 4th Oct, 2022

 

NATIONAL UPDATES:

 

1. 5G Launch: PM Modi says rollout of 5G a gift to 130 billion Indians: The nation’s 5G services were officially inaugurated by Prime Minister Narendra Modi on October 1st, 2022, ushering in a period of ultra-high-speed mobile internet, according to a statement from the Prime Minister’s Office. The sixth iteration of the India Mobile Congress was also launched by PM Modi. Key Points:

a)      Speaking to the crowd, PM Modi stated that the government and the country’s telecom industry are giving 130 crore Indians a fantastic present in the shape of 5G.

b)      A new era in the nation is ringing in with the arrival of 5G. A limitless sky of options will open up with 5G.

c)       The PM continued by saying that the New India will actively participate in the creation and use of technology rather than simply becoming a consumer of it.

d)      Future wireless technology design and related production will be heavily influenced by India.

e)      The prime minister explained that India concentrated on 4 Pillars, in four directions at once, emphasising the necessity for a comprehensive approach to Digital India: (1) The cost of the gadget/Device (2) Digital connectivity (3) Cost of data and (4) The notion of “digital first”

 

2. Cabinet approves 4% increase in DA for Central Government employees: Cabinet approves 4% increase in DA: The Union Cabinet increased the dearness allowance (DA) and dearness relief (DR) by 4% beginning July 1, 2022, benefiting 6.97 million pensioners and 4.18 million central government employees. This was done ahead of the Diwali festival. Key Points:

a)      The DA and dearness relief (DR) payment is a 4% increase above the current rate of 34% of basic pay/pension.

b)      The impact of both dearness allowance (DA) and dearness relief (DR) would be combined and amount to Rs 12,852.5 crore per year on the exchequer.

c)       Central government employees and pensioners will each be entitled to a higher sum of dearness allowance (DA) and dearness relief (DR), with effect from July 1, 2022,

d)      The dearness allowance (DA) and dearness relief (DR) have been raised, based on the percentage rise in the 12-month average of the All India Consumer Price Index for the period ending in June 2022.

e)      Increased dearness allowance for employees is expected to cost the exchequer Rs 6,591.36 billion annually and Rs 4,394.24 billion in 2022–2023 (8 months from July, 2022 to February, 2023).

f)        With dearness relief, the impact would be Rs 4,174.12 crore in the current fiscal year and Rs 6,261.20 crore annually.

Note: Finance Minister of India: Smt. Nirmala Sitharaman

 

3. World’s largest safari park to be developed in Gurugram: World’s largest jungle safari park to be developed in Haryana. The World’s largest jungle safari park is spread across an area of 10000 acres in the Aravalli Mountain Range of Gurugram and Nuh District. This project will be the largest such project in the world. Key Points:

a)      The proposed area to build the World’s largest jungle safari park is Aravalli hills.

b)      The park will also include a large herbarium, an aviary, four zones for big cars, a large area for herbivores, an area for exotic animal/birds, an underwater world, natural trails, visitors, tourism zones, botanical garden, biomes, equatorial, tropical, coastal, desert, etc.

c)       For the making of the World’s largest jungle safari park an Aravalli Foundation will be set up which will manage the project.

d)      The design and operation will be managed by an international EOI, and two more companies with international experience.

e)      The Sharjah Jungle Safari is the largest curated safari park outside Africa. The World’s largest jungle safari park in Harayana aims to boost tourism and employment opportunities for the local people.

 

4. N S Rajan named as the new chairman of ASCI: The election of N S Rajan, Director of August One Partners LLP, as Chairman of the Board of Governors of the Advertising Standards Council of India (ASCI) was done. Of the board meeting that followed the 36th Annual General Meeting (AGM) of ASCI, Saugata Gupta, Managing Director & CEO, Marico Limited, was elected Vice-Chairman, and Shashidhar Sinha, Chief Executive Officer at IPG Mediabrands India, was named Honorary Treasurer. Arun Srinivas, Director of GMS India (Meta), and Virat Tandon, Group CEO of Lintas India, were both appointed to the board at the meeting. Subhash Kamath, the outgoing chairman, will be a member of the board’s Consultative Committee, which among other things fosters the organization’s new projects.

 

INTERNATIONAL UPDATES:

 

1. Eurozone Inflation Hits At 10%, A new High: Inflation in the 19-member eurozone reached 10% in September, the highest it has ever been in the history of the common European currency, according to the latest flash estimate from Eurostat, the EU statistics agency. This is up from the 9.1% seen in August. Just one year ago, inflation was 3.2%.

Chief Contributors: The high inflation figure comes as the region experiences soaring electricity and natural gas prices, and also comes amid forecasts of a looming recession.  The price of energy has risen 40.8% when compared to last year’s prices, while the cost of food, alcohol and tobacco rose 11.8% in September, up from the 10.6% recorded in August. The inflation figure in Estonia for September was pegged at a whopping 24.2%, a little lower than the 25.2% seen in August, but also the highest in the eurozone.

Most Affected Countries: Lithuania, Latvia and Netherlands follow closely with their rates of inflation sitting at 22.5%, 22.4% and 17.1%, respectively.  According to Eurostat, German inflation is sitting at 10.9%.

 

2. Kazakhstan changes capital’s name from Nur-Sultan back to Astana: Kazakhstan’s president, Kassym-Jomart Tokayev is to restore the former name of the country’s capital, Astana, just three years after he renamed it in honour of his predecessor. Kazakhstan’s president has signed a law limiting presidential terms and reverting to the old name of the Central Asian country’s capital, in the latest step of breaking with the legacy of his predecessor. The bill also reinstated the capital’s name to Astana.

The name was changed to Nur-Sultan in March 2019, in honour of outgoing president Nursultan Nazarbayev. President Kassym-Jomart Tokayev signed a bill on 24 Sept limiting presidential mandates to a single seven-year term, a day after parliament approved the measure.

Note: Kazakhstan President: Kassym-Jomart Tokayev; Kazakhstan Currency: Kazakhstani tenge.

 

3. World Space Week: 4th to 10th October: World Space Week (WSW) is observed every year from October 4 to 10, to celebrate science and technology, and their contribution towards the betterment of the human condition. World Space Week aims to help people gain a wider knowledge about space outreach and education. The World Space Week 2022 theme is “Space and Sustainability” focusing on achieving sustainability in space and achieving sustainability from space.

History of World Space Week: In 1999, the United Nations General Assembly declared October 4-10 to be celebrated as World Space Week. October 4 marks the launch of the first human-made Earth satellite, Sputnik 1. When Sputnik 1 was launched into orbit in 1957, it opened the scope for space exploration. A decade later, on October 10, 1967, the Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies, was signed. The first time this event was celebrated was in 2000. It focused on the theme – “Launching the Space Millennium.” In 2021, this event achieved a record scale. The week consisted of more than 6,418 events in 96 nations.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Bank of Baroda launches ‘Khushiyon ka Tyohaar’: Bank of Baroda (BOB) has announced to launch of ‘Khushiyon Ka Tyohaar’. The ‘Khushiyon Ka Tyohaar’ includes a series of offers as an annual festival campaign. The bank will offer to attractive interest rates on a home loans, car loans, education loans, and many more during the ‘Khushiyon Ka Tyohaar’ campaign.

Key Points related to the ‘Khushiyon Ka Tyohaar’ campaign:

a)      The BOB customers will receive many benefits through the ‘Khushiyon Ka Tyohaar’ campaign.

b)      The offers and benefits include pre-payments, part-payment charges, concessional processing charges, and longer tenure of seven years.

c)       Bank of Baroda (BOB) home loans are available at a competitive interest rate beginning at 7.95% per annual with no processing charges.

d)      The BOB customers will be given a special rate starting from 7.95% per annum on BOB car loans.

e)      The facilities are available through the BOB World mobile app, Net banking, and the Bank of Baroda website for both existing and new customers.

 

BUSINESS AND ECONOMY

 

1. RBI projects 7% GDP growth for FY23, Inflation remain 6.7%: RBI projects 7% GDP growth for FY23: The Reserve Bank of India (RBI) has projected 7% real GDP growth for the Financial year 2023 (FY23). Inflation in India is predicted to remain 6.7%. As a result, RBI raised its policy rate by 50 basis points (bps) in response to growing concerns about increasing inflation, global headwinds, and a drop in the value of the rupee to historic lows. Key Points:

a)      The Monetary Policy Committee (MPC) opted to lower its real GDP prediction for FY23 to 7.0% at its meeting in September; growth is projected for Q2FY23 to be 6.3%, Q3 to be 4.6%, and Q4 to be 4.6%, with risks largely balanced. 7.2% growth has been corrected for Q1FY24.

b)      The government has given the central bank the responsibility of ensuring that the consumer price index (CPI) stays at 4% with a margin of 2% on either side, but since January, retail inflation has stubbornly remained over the RBI’s comfort level.

c)       The Indian rupee is rapidly losing value relative to the US dollar, which is presently trading at around 82. While inflation is still high.

d)      The US Fed recently increased its interest rate three times by 75 basis points each, hastening the depreciation of the rupee.

e)      From a peak of $642 billion a year ago, forex have decreased by by $100 billion, to $545 billion, and are predicted to decline even further.

 

2. Global Innovation Index 2022: India climbs to 40th rank: India has climbed to the 40th rank in the Global Innovation Index of the World Intellectual Property Organization. This is a huge leap of 41 places in 7 years. India has leapfrogged to 40th position on the Global Innovation Index (GII) 2022 from the 81st spot in 2015. India’s innovation performance is above average for the upper-middle-income group in almost every innovation pillar, with the exception of infrastructure, where it scores below average. Within Central and Southern Asia, India continues to lead in the 40th position, moving further up the rankings, from its 46th position in 2021.

The World Intellectual Property Organization released the Global Innovation Index 2022 in which Switzerland has emerged as the world’s most innovative economy for the 12th consecutive year. It leads globally in innovation outputs, and specifically in patents by origin, software spending, high-tech manufacturing, production, and export complexity. The second position was secured by the US followed by Sweden, the UK, and the Netherlands.

List of the top 10 most innovative economies for this year

 

Ranking

Country

1

Switzerland

2

United States

3

Sweden

4

United Kingdom

5

Netherlands

6

Republic of Korea

7

Singapore

8

Germany

9

Finland

10

Denmark

 

Note: WIPO Headquarters: Geneva, Switzerland; WIPO Founded: 14 July 1967; WIPO Membership: 193 member states; WIPO Director General: Daren Tang.

 

3. Joseph Gebbia, co-founder of Airbnb, added to the Tesla board: Tesla Inc. said that Airbnb co-founder Joseph Gebbia has joined the board of directors, reversing a decision to reduce the number of directors at the most valuable automaker in the world. Following the departure of Oracle Inc. co-founder Larry Ellison in August, Tesla announced in June that it will have just seven board seats, drawing criticism from a shareholder organisation for the absence of independent board members. Key Points:

a)      The U.S. Securities and Exchange Commission (SEC) received a complaint from SOC Investment Group in July alleging that Tesla’s proposal did not follow a 2018 “consent decree” with the SEC, which required having two independent board seats.

b)      That arrangement was the result of Tesla’s CEO Elon Musk’s tweet about going private.

c)       Tesla recruited Ellison, a man who calls Musk a close friend, in December 2018 to follow the contract.

d)      Tesla stated in a regulatory filing that Gebbia, 41, has forfeited all rights to cash remuneration and has agreed to forgo taking any stock-based incentives until July 2023.

Note: Tesla CEO: Elon Reeve Musk; Tesla Headquarters: Austin, Texas, United States

 

AWARDS AND HONOURS

 

1. Indian Women’s rights activist Srishti Bakshi wins ‘Changemaker’ award: A women’s rights activist from India, Srishti Bakshi has won the ‘Changemaker‘ award at the UN SDG (United Nations Sustainable Development Goals) Action Awards held at a ceremony in Bonn, Germany. The award is given to recognise the efforts of Srishti Bakshi to raise awareness of gender-based violence and inequality.

Srishti Bakshi She conducted over 100 workshops focused on women’s safety to put a spotlight on the causes of violence against women and also empower women and reveal stories of resilience, along with digital and financial literacy. WOMB: Women Of My Billion, a documentary that captured her journey exposes the raw emotions and realities of women in India.

About UN SDG Action Awards Ceremony: The UN SDG Action Awards Ceremony celebrates people and initiatives that mobilize, inspire, and connect people every day, proving that each one of us has the power to drive transformative action. The finalists for the UN SDG Action Awards were selected from over 3,000 applications from 150 countries.

 

DEFENCE

 

1. DRDO successful tests of Very Short Range Air Defence System Missiles: The Defence Research and Development Organization (DRDO) has successfully tested the two flights of Very Short Range Air Defence System (VSHORADS), from a ground-based portable launcher from Integrated Test Range, Chandipur, off the coast of Chandipur, Odisha. Key Points:

a)      SHORADS is an indigenously designed and developed Man Portable Air Defence System (MANPAD) by DRDO’s Research Centre Imarat (RCI), Hyderabad, in collaboration with other DRDO laboratories and Indian Industry Partners.

b)      It is a Man Portable Air Defence System that is designed and developed by DRDO’s Research Centre Imarat, Hyderabad in collaboration with other DRDO facilities

c)       Use – To neutralize low-altitude aerial threats at short ranges

d)      The design of the missile including the launcher has been highly optimized to ensure easy portability.

Note: Defence Research and Development Organization (DRDO) Founded: 1 January 1958; Headquarters:  New Delhi; Chairman: Samir V Kamat