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Thursday, October 20, 2022

Daily GK Update- 20th Oct, 2022

NATIONAL UPDATES:

 

1. Amit Shah inaugurates ‘Gatha Swaraj Ki’ gallery in Scindia Museum, Gwalior: Union Home Minister Amit Shah has inaugurated a gallery-cum-exhibition depicting the history of prominent Maratha commanders at the sprawling Jai Vilas Mahal of Scindias, the erstwhile rulers of Gwalior. Shah was in Gwalior to lay the foundation for the terminal building and expansion of the Rajmata Vijayaraje Scindia Airport. Shah visited the museum in the palace and inaugurated the ‘Gatha Swaraj ki-Maratha Gallery’ depicting the history of the main Maratha rulers including the Scindias, Gaikwads, Holkars, Nevalkars, Bhosales and the Pawar.

About the Jai Vilas Palace: Jai Vilas Palace was built in 1874 by Jayajirao Scindia, the ruler of the erstwhile princely state of Gwalior in the British period. The major portion of the palace is now called the “Jiwajirao Scindia Museum”. A large portion of the palace is still the residence of some of his descendants including Jyotiraditya Scindia.

 

2. India Stands 3rd in the World in Terms of Fish Production: Union Minister of State for Fisheries, Animal Husbandry and Dairying Dr. L Murugan has recently said that India stands third in the world in terms of fish production. India is the 3rd largest fish producing and 2nd largest aquaculture nation in the world after China. He said, India stands third in the world in terms of fish production. Making specific reference to Karnataka, the Union Minister said that 734.77 crore rupees was allocated to the state under the flagship scheme of Pradhan Mantri Matsya Sampada Yojana (PMMSY) from 2020-21 till date for the development of infrastructure facilities. Pradhan Mantri Matsya Sampada Yojana (PMMSY):

a)      The vision is to bring about Blue Revolution through sustainable and responsible development of fisheries sector.

b)      The main motto of PMMSY is ‘Reform, Perform and Transform’in the fisheries sector. Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying is the implementing agency.

c)       The PMMSY is an umbrella scheme with two separate components – Central Sector Scheme and Centrally Sponsored Scheme.

 

3. Times Higher Education Rankings 2023: IISc tops among Indian Universities: Times Higher Education Rankings 2023 has been announced. This year, the Indian Institute of Science, Bangalore has secured the top place among Indian universities. Five Indian universities made it into the world’s top 500 varsities. IISc has been placed under the 251-300 bracket. The complete list of the top 10 Indian Universities is enlisted below.

In total, 22 Indian universities made it below rank 800 – three of which were debutant entries. DTU, Graphic Era University, IIT Indore, IIIT, Delhi, Jamia Hamdard University, JNU, Kalasalingam Academy of Research and Education, and KIIT University also have been put under the 601-800 bracket. Top 10 Indian universities:

Bracket

Name of the Institute

251-300

IISc

351-400

JSS Academy of Higher Education and Research

351-400

Shoolini University of Biotechnology and Management Sciences

401-500

Alagappa University

401-500

Mahatma Gandhi University

501-600

IIT Ropar

501-600

International Institute of Information Technology Hyderabad

501-600

Jamia Millia Islamia

501-600

Saveetha Institute of Medical and Technical Sciences

601-800

Banaras Hindu University (BHU)

 

Globally: Globally, the University of Oxford continued to retain the top spot for the seventh consecutive year, while the University of Cambridge jumped to joint third from joint fifth last year. The US is the most-represented country overall with 177 institutions in the overall ranking list. A record number of 1,799 universities from 104 countries and regions are ranked, 137 more than last year. The number of US universities represented in the top 100 continues to fall, from a peak of 43 in 2018 to 34 this year.

 

4. Justice DY Chandrachud named as 50th Chief Justice of India: President Droupadi Murmu has appointed Dr Justice DY Chandrachud as the new Chief Justice of India. He will succeed the present Chief Justice of India Justice Uday Umesh Lalit. Justice Chandrachud’s appointment will come into effect from the 9th of next month. Justice DY Chandrachud would be the 50th Chief Justice of India. While Justice Lalit has a tenure of 74 days, Justice Chandrachud will serve as the CJI for two years. Justice Chandrachud will demit office on November 10, 2024.

 

INTERNATIONAL UPDATES:

 

1. NATO announced its annual nuclear exercise “Steadfast Noon”: The North Atlantic Treaty Organization (NATO), also called the North Atlantic Alliance announced had started its annual nuclear exercise code-named “Steadfast Noon”. The week-long exercise is taking place over Southern Europe and involves aircraft and personnel from 14 NATO countries. Steadfast Noon involves training flights with dual-capable fighter jets, as well as conventional jets, backed by surveillance and refuelling aircraft. No live weapons are used. This exercise helps to ensure that NATO’s nuclear deterrent remains safe, secure and effective.

Notably: Steadfast Noon, as the exercise is known, runs from October 17 to October 30 and will involve 14 countries and up to 60 aircraft of various types, including fourth and fifth-generation fighter jets, as well as surveillance and tanker aircraft. Key Points:

a)      As in previous years, US Air Force B-52 long-range bombers will take part. This year, they will fly from Minot Air Base in North Dakota. Training flights will take place over Belgium, which is hosting the exercise, as well as over the North Sea and the United Kingdom.

b)      The nuclear bases in southern Europe have received several upgrades during the past few years. This includes adding additional security perimeters to strengthen the protection of the nuclear weapons stored at the bases. Two of these bases – Aviano in northeast Italy and Incirlik in southern Turkey, were upgraded over the past five years.

c)       The second nuclear base in Italy – Ghedi near Brescia – that might be part of Italy’s hosting of this year’s Steadfast Noon exercise, is currently undergoing several important nuclear weapons-related modernizations that are intended to serve the NATO nuclear strike mission for years.

 

2. Global Hunger Index 2022: India ranks 107th out of 121 countries: India ranks 107 out of 121 countries on the Global Hunger Index in which it fares worse than all countries in South Asia barring war-torn Afghanistan. India’s score of 29.1 places it in the ‘serious’ category. India also ranks below Sri Lanka (64), Nepal (81), Bangladesh (84), and Pakistan (99). Afghanistan (109) is the only country in South Asia that performs worse than India on the index.

China is among the countries collectively ranked between 1 and 17 having a score of less than five. India’s child wasting rate (low weight for height), at 19.3%, is worse than the levels recorded in 2014 (15.1%) and even 2000 (17.15%) and is the highest for any country in the world and drives up the region’s average owing to India’s large population.

 

3. World Osteoporosis Day: 20th October: World osteoporosis day is a global healthcare event observed every year on 20 October. The day is observed to promote the early diagnosis of osteoporosis, its treatment and preventive tips for strong bones. The campaigns are mainly focused on encouraging people to take preventative measures for their bone health to avoid any risk of osteoporosis and associated complications in the future. This year 2022, the World Osteoporosis Day theme is “Step Up For Bone Health”, intending to encourage people around the world to check for bone density and bone health status regularly (especially people above 50) and inculcate healthy lifestyle to strengthen the bone health.

World Osteoporosis Day History: The first occurrence of World Osteoporosis Day was noticed on October 20, 1996, held by the United Kingdom’s National Osteoporosis Society with the collaboration of the European Commission. Later on, in 1997 International Osteoporosis Foundation (IOF) organized World Osteoporosis Day (WOD).

Osteoporosis: Osteoporosis is a medical condition in which bones become very weak and brittle. In the case of osteoporosis, the bone becomes so fragile that a fracture can occur with a minor fall, bump or sudden movement.

Note: International Osteoporosis Foundation Headquarters location: Nyon, Switzerland; International Osteoporosis Foundation Founded: 1998; International Osteoporosis Foundation President: Prof. Cyrus Cooper.

 

4. World Statistics Day: 20th October: World Statistics Day 2022 is celebrated annually on October 20th to recognize the importance of statistics in our daily lives. The United Nations Statistical Commission has been at the forefront of advocating for the use of statistics to track progress towards the Sustainable Development Goals (SDGs). The theme of Statistics Day, 2022 is “Data for Sustainable Development”.

History of World Statistics Day: The United Nations Statistical Commission proposed celebrating 20 October 2010 as World Statistics Day. The General Assembly adopted on 3 June 2010 resolution 64/267, which officially designated 20 October 2010 as the first-ever World Statistics Day under the general theme “Celebrating the many achievements of official statistics. In 2015, with resolution 96/282, the General Assembly decided to designate 20 October 2015 as the second World Statistics Day under the general theme “Better data, better lives,” as well as to celebrate World Statistics Day every five years on 20 October.

Note: United Nations Statistical CommissionFounded: 1947; United Nations Statistical Commission Parent organization: United Nations Economic and Social Council; United Nations Statistical Commission Chair: Shigeru Kawasaki (Japan).

 

OTHER UPDATES:

 

SPORTS

 

1. Women Asia Cup 2022: Indian Women’s Team Beats Sri Lanka by 8 Wickets: India defeated Sri Lanka by 8 wickets in the finals of the Women’s Asia Cup 2022. India has bagged the position for the 7th time. Sri Lanka won the toss and opted to bat first. Sri Lanka made 65 runs in 20 overs losing 10 wickets. India chased the target in 8.3 overs making 71 runs with a loss of only 2 wickets. Smriti Mandhana made 51 runs not out in 25 balls. Renuka Singh Thakur claimed three wickets against Sri Lanka while Rajeshwari Gayakwad and Sneh Rana claimed two wickets each. The final match of India vs Sri Lanka Asia Cup 2022 took place in Sylhet International Cricket Stadium, Sylhet.

 

2. ICC tie-up with UNICEF to promote gender equality: The International Cricket Council (ICC) and UNICEF have launched a global partnership to empower women and girls and promote inclusion and gender equality through cricket. The initiatives to drive greater gender equity along with advocacy campaigns involving some of the world`s best players will form the basis of the partnership, which aims to mobilise the “power of cricket to driving positive social change”. Key Points:

a)      UNICEF and ICC will also launch `Criiio 4 Good`, a cricket-for-development curriculum giving girls and boys the opportunity to have a fun first experience of the game whilst learning gender-based life-skills essential for gender equity.

b)      The Criiio 4 Good programme will be an eight-week lesson plan on the fundamentals of batting, bowling and fielding. Each lesson plan has a life-skill module attached to teach participants core life skills that will promote greater gender equity.

c)       These skills include leadership, problem-solving, self-esteem, negotiation, empathy, decision-making, teamwork and goal-setting.

d)      The ICC will also use its global platform to drive greater awareness of the importance of empowering women and girls and gender equity, giving some of the world`s best players the opportunity to get involved in driving greater social change.

Note: ICC Founded: 15 June 1909; ICC Chairman: Greg Barclay; ICC CEO: Geoff Allardice; ICC Headquarters: Dubai, United Arab Emirates.

UNICEF Founded: 1946; UNICEF Headquarters: New York City, USA; UNICEF Director General: Catherine M. Russell; UNICEF Membership: 192.

 

BANKING AND FINANCE

 

1. Bandhan Bank ropes in Sourav Ganguly as its brand ambassador: Bandhan Bank has announced that it has roped in Sourav Ganguly as it’s Brand Ambassador. Sourav Ganguly will help amplify the brand message of the Bank and endorse the products and services of the Bank. Ganguly led the transformation of the Indian cricket team in the early 2000s, just like Bandhan led the transformation of not-so-privileged households in rural and semi-urban India. Both are iconic brands that have origins in Eastern India.

Another appointment: The Indian Test specialist, Cheteshwar Pujara, has been roped in by the fantasy sports platform, Fantasy Dangal, as its brand ambassador. In this development, Pujara will be seen in forthcoming campaigns of Fantasy Dangal and promote the platform.

Note: Bandhan Bank Founded: 2001; Bandhan Bank CEO: Chandra Shekhar Ghosh; Bandhan Bank Headquarters: Kolkata.

 

BUSINESS AND ECONOMY

 

1. India’s WPI inflation falls to 10.7% in Sep from 12.41% in Aug: India’s WPI inflation falls to 10.7% in Sep: Inflation based on the Wholesale Price Index(WPI) decreased to 10.70% in September. According to official figures, the WPI-based inflation rate was 12.41% in August. High-speed diesel (HSD) saw the highest inflation rate at 65.96%. (YoY). It was followed by price increases of 44.72 percent for crude oil and natural gas and 49.79 percent for potatoes.

Key Points:

a)      Only the category of fuel and power experienced an increase in inflation month over month (MoM). The prices fell in all the others.

b)      Inflation was also down in the Wholesale Price Index (WPI) Food Index.

c)       The index for this important group dropped from 178.6 (provisional) for the month of August 2022 to 176.2 (provisional) in September 2022, a (-1.34%) decrease.

d)      When compared to August 2022, food item prices rose by 0.28 percent in September 2022.

e)      In September 2022 compared to August 2022, prices for non-food items dropped by 3.60 percent, crude oil and natural gas prices dropped by 6.38 percent, and the price of minerals dropped by 6.45 percent.

 

2. Piyush Goyal: India to achieve USD 2 trillion export target by 2030: Piyush Goyal, the minister of commerce and industry, expressed confidence that the nation will reach its goal of 2 trillion USD in products and services exported by 2030. The Union Commerce and Industry minister was addressing at the Chennai-based Exporters Conclave.

Piyush Goyal Predicts the Growth of Economy and Exports:

a)      Piyush Goyal stressed the need of maintaining the export momentum and expressed his confidence that Indian exports will be able to weather the global challenges and will far outpace export growth.

b)      Piyush Goyal predicted that the nation’s economy will reach USD 30 trillion by 2047, with exports accounting for 25% of total output.

c)       He predicted that India’s exports will reach USD 2 trillion by 2030.

d)      The government has promised to resolve the problems brought up by the industry participants.

 

AWARDS AND HONOURS

 

1. YSR Lifetime Achievement Awards recipient announced: The State Formation Day, November 1, will mark the presentation of the YSR Lifetime Achievement and YSR Achievement-2022 Awards, according to the State government. The Dr. YSR Achievement Award comes with a cash award of Rs. 5 lakh, a souvenir, and a commendation letter, while the Dr. YSR Lifetime Achievement Award comes with a cash prize of Rs. 10 lakh, a bronze figurine of Dr. YSR, and these items. YSR lifetime achievement awards recipient: Recipients

a)      Mouktika, representing the Amrutha Phala Producers Company, Sabbavaram, Anakapalle district; and Kattaman will receive the YSR Achievement Awards in Agriculture.

b)      The recipients of the YSR Lifetime Achievement Awards in Fine Arts and Culture are veteran film director K. Viswanath and veteran actor and director R. Narayana Murthy.

c)       Stage artist Nayudu Gopi, kalamkari saviour Pitchuka Srinivas, and Shaik Gousia Begum from Udayagiri received YSR Achievement Awards in Fine Arts and Culture for their contributions to the development of wooden kitchen utensils.

d)      The recipients of the YSR Lifetime Achievement Awards in Literature are Visalandhra Publishing House, Emesco Publishing House, and author Dr. Santi Narayana.

e)      The Siireesha Rehabilitation Center in Vuyyuru and Sunita Krishnan of the Prajwala Foundation have been recognised with the YSR Lifetime Achievement Awards in women’s empowerment and safety.

f)        Five Disha police officers—Ravada Jayanti, S.V.V. Lakshminarayana, Rayudu Subrahmanyam, Hajtraiah, and P. Srinivasulu—have received joint YSR Achievement Awards.

g)      The recipients of the YSR Achievement Awards in Education include the Rishi Valley Educational Institution in Madanapalli, the Jawahar Bharati Educational Institution in Kavali, and personality development trainers B.V. Pattabhira and Dastagiri Reddy from Nandyala who trained thousands of applicants for bank jobs.

h)      The recipients of the YSR Lifetime Achievement Awards in Journalism are M.E.V. Prasada Reddy, Satish Chandra, Bhandaru Srinivasa Rao, and Mangu Rajagopal.

i)        The recipients of the YSR Lifetime Achievement Awards in Medical and Health are B. Nageswara Reddy of the Asian Institute of Gastroenterology, Varaprasada Reddy of Shanta Biotech, Krishna Yella and Suchitra Yella of Bharat Biotech, Pratap C. Reddy, founder-chairman of Apollo Hospitals, and Gullapalli Nageswara Rao from LV Prasad Eye Institute.

 

2. Telangana’s Hyderabad honoured with AIPH ‘World Green City award 2022’: The city of Hyderabad, Telangana, has been honoured as the Grand winner of the AIPH (International Association of Horticultural Producers) World Green City Awards 2022, the most prestigious award of the Inaugural AIPH World Green City awards (2022 edition), for its initiative titled “Green Garland to the State of Telangana”. Hyderabad also won the award under the ‘Living Green for Economic Recovery and Inclusive Growth’ category.

Hyderabad has been awarded for its initiatives relying on greater use of plants and nature to create better city environments and helps fulfil local aspirations for improved economic, social and environmental resilience. The award acknowledged Telangana’s programme of ‘Telangana Ku Haritha Haram’s large­scale tree­planting program taken up from 2015-­2016.

The program aims to increase the tree cover of the state from 24% to 33% of total area of the state. Other Awards: 6 Category-wise winners:

 

Category

Winners

Living Green for Economic Recovery and Inclusive Growth

Green Garland to the State of Telangana, City of Hyderabad, India

Living Green for Biodiversity

Reverdecer Bogotá, Bogota D.C, Colombia

Living Green for Climate Change

Mexico City’s Environmental and Climate Change Program, Mexico City, Mexico

Living Green for Health and Wellbeing

Transforming degraded land into Urban Micro Parks, City of Fortaleza, Brazil

Living Green for Water

The Phytotechnology Stations at the Montréal Botanical Garden / Space for Life, City of Montreal, Canada

Living Green for Social Cohesion

OASIS Schoolyard Project, City of Paris, France


Wednesday, October 19, 2022

Daily GK Update- 19th Oct, 2022

 

NATIONAL UPDATES:

 

1. PM Modi dedicate 75 Digital Banking Units to the Nation: Prime Minister Narendra Modi dedicate 75 Digital Banking Units (DBUs) to the nation. He addresses the occasion via video conferencing. The finance minister has announced the setting up of the 75 DBUs in 75 districts of the country to commemorate the 75 years of Independence of India as part of the Union budget speech for 2022-2023. Key Points:

a)      Digital Banking Units (DBUs) are being set up to increase the reach of Digital Banking.

b)      The DBUs will help Digital Banking to reach every corner of the country and will cover all states and Union Territory.

c)       11 public sector banks, 12 private sector banks, and one small finance bank are participating in the endeavor.

d)      DBUs will be mortal outlets that will provide a variety of digital banking facilities to people such as opening a savings account, balance-check, print passbook, transfer of funds, investment in fixed deposits, loan applications, stop-payment instructions for cheques issued, applying for credit, etc.

e)      DBUs will enable customers to have cost-effective, convenient access and enhanced digital experience of banking products and services all around the year.

 

2. 17th Pravasi Bhartiya Divas to be held at Indore in January 2023: The 17th Pravasi Bhartiya Divas Convention is to be held in Indore, Madhya Pradesh in January 2023. External Affairs Minister Dr. S. Jaishankar launched the website of the 17th Pravasi Bhartiya Divas Convention with Madhya Pradesh Chief Minister Shivraj Singh Chauhan and Minister of State for External Affairs V Muraleedharan. Key Points:

a)      Dr. Jaishankar highlighted the construction industry of Prime Minister Narendra Modi and the government for giving the highest priority to the Indian Diaspora.

b)      Government engagement is founded in the 4Cs: Care, Connect, Celebrate, and Contribute.

c)       The External Affairs Minister expressed confidence that the 17th Pravasi Bhartiya Divas Convention will be an important landmark event in the post-pandemic world.

d)      The Pravasi Bhartiya Divas is celebrated every year on the 9th of January to mark the contribution of the overseas Indian community to the development of India. It also commemorates the return of Mahatma Gandhi from South Africa to India on 9th January 1951.

 

3. GoI approved 1st suspension bridge across Krishna River: The central government has approved the construction of an iconic cable stayed-cum-suspension bridge across the Krishna River connecting Telangana and Andhra Pradesh and passing through the Nallamala forest range. The decision was announced by the union minister for road transport and national highways Nitin Gadkari. Gadkari said the iconic bridge will have several unique features like the longest glass pedestrian walkway across a river, gopuram-like pylons, signature lighting and a large navigational span. Key Points:

a)      The three-km-long bridge will reduce the distance between Hyderabad and Tirupati by 80 km, the union minister said the hybrid structural arrangement in the bridge would give a structural advantage to it and make it economical as well as aesthetically pleasing.

b)      The bridge begins at Somasila at Kollapur in Telangana’s Nagarkurnool district and Atmakur in Andhra Pradesh’s Kurnool district.

c)       At present, the people from Telangana are forced to travel for a long distance via Kurnool to reach pilgrim centres like Mahanandi, Ahobilam, Tirupati. The only other option is to travel by boat across the river from Somasila to reach these places.

 

4. Tamil Nadu is the only State to achieve Jal Jeevan Mission target for 2022: Tamil Nadu has emerged as the only state in India which has achieved the target for 2022 Q1 and Q2 for Jal Jeevan Mission, with 69.57 lakh households provided with tap connections. Union Jal Shakti Minister Gajendra Singh Shekhawat visited Chennai and reviewed the progress of the work on the Jal Jeevan Mission for assured portable Tap water supply to every rural household by 2024. Key Points:

a)      Out of 1.25 crore households in Tamil Nadu, 69.57 lakh households have received tap water connections in Tamil Nadu.

b)      The percentage of households with tap water connection is higher than the national average.

c)       The target set by the Union government for Q1 and Q2 for 2022 was 12.1 lakh tap connections and registering 134% of that.

d)      The target set for 2022-2023 in Tamil Nadu is 28.48 lakh connections.

e)      Currently, the implementation of 14.44 lakh tap connections is underway.

f)        Out of 12,525 villages in Tamil Nadu, the state has reported 2,663 Villages as ‘Har Ghar Jal’ Villages with tap water connection in 100% of households.

 

5. IIT Guwahati: President Droupadi Murmu inaugurates ‘PARAM KAMRUPA’ Supercomputer facility: President of India, Droupadi Murmu has inaugurated a supercomputer facility at the Indian Institute of Technology, Guwahati and launched several other projects during her maiden visit to Assam since assuming office. This supercomputer facility called “Param-Kamrupa”, the facility will be able to conduct advanced research in various scientific fields. She also inaugurated a high-power active and passive component laboratory called SAMEER at the institute.

About the Param-Kamrupa: Param-Kamrupa is a state-of-the-art supercomputer set up under the National Supercomputing Mission (NSM). With this facility, IIT Guwahati will be able to carry out research on weather and climate, bioinformatics, computational chemistry, molecular dynamics, artificial intelligence (AI), machine learning, data science, etc.

 

INTERNATIONAL UPDATES:

 

1. Abdul Latif Rashid elected as President of Iraq: The Iraqi Parliament chose Kurdish politician, Abdul Latif Rashid to lead the country. Rashid won more than 160 votes against 99 for the incumbent Saleh. Rashid, 78, is a British-educated engineer and was the Iraqi minister of water resources from 2003-2010. Outgoing President Saleh reportedly walked out of the parliament building as the votes were tallied. According to the Iraqi political norm since 2006, a Kurd is elected as president of the country, while a Shia takes the role of prime minister. A Sunni will head the parliament. Abdul Latif Rashid:

a)      Rashid was born in 1944 in the northeastern Sulaymaniyah region of Iraq. He graduated as a civil engineer from the University of Liverpool in 1968. He went on to complete his engineering doctorate in 1976 from the University of Manchester.

b)      Rashid has a long history in Iraqi politics. He served as the minister of water resources from 2003 to 2010 and then as the senior adviser to the President. He can speak speaks Kurdish, Arabic and English.

c)       Rashid is a member of the Patriotic Union of Kurdistan (PUK) party. He was also the former spokesperson for the PUK in Britain.

Note: Iraq Capital: Baghdad; Iraq Currency: Dinar; Iraq President: Abdul Latif Rashid; Iraq Prime Minister: Mohammed Shia’ Al Sudani.

 

2. India Opposes G7’s Just Energy Transition Plan: The G7 nations’ plan of persuading India to start negotiations on a Just Energy Transition Partnership (JETP), an initiative of the rich nations to accelerate phasing out of coal and reducing emissions has hit a road-block. JETP makes various funding options available for this purpose in identified developing countries. The Power Ministry has refused to give its consent to the negotiations so far, as it argues that coal cannot be singled out as a polluting fuel, and energy transition talks need to take place on equal terms.

Just Energy Transition Partnership (JETP): Upon taking over the G-7 presidency for 2022, host Germany had promised to build on Glasgow’s momentum. JETP makes various funding options available to accelerate the phasing out of coal and reduce emissions in identified developing countries.

What Is the Climate Deal Offered to India: The US and Germany have proposed a G-7 partnership with India to support and fund the makeover of its energy mix from fossil fuels to carbon-neutral sources. India is a special invitee to this year’s summit, along with Indonesia, South Africa, Senegal and Argentina. Constituents of the deal: If reports of the offer are true, a critical portion of the pact will ask for:

a)      reducing the number of coal-burning power plants under development,

b)      the gradual closure of our coal mines.

Significance Highlighted by The G7:

a)      This is significant because this approach takes into account the societal and economic development of each partner and will not try to force-feed partners a standard solution.

b)      That partnership—with special emphasis on the words “just” and “transition”—is about helping fund South Africa’s decarbonization by replacing coal usage with clean energy.

c)       At its core, the idea is to assist green transitions by making finance available from developed countries, multilateral institutions and groups of green investors.

 

3. Dr Adarsh Swaika named India’s next ambassador to Kuwait: Dr Adarsh Swaika, a joint secretary in the Ministry of External Affairs, has been appointed India’s next Ambassador to Kuwait. Dr Adarsh Swaika (IFS: 2002), is presently Joint Secretary in the Ministry of External Affairs. He is expected to take up his assignment shortly. Swaika will succeed Sibi George as the Indian envoy in Kuwait. There has been a significant upswing in ties between India and Kuwait in the last few years.

Other appointments: Avtar Singh, a Director in the Ministry of External Affairs, has been appointed as India’s next Ambassador to the Republic of Guinea. Avtar Singh (YOA: 2006), presently Director in the Ministry of External Affairs.

 

4. Global Dignity Day: 19th of October: Global Dignity Day is observed every year on the 3rd Wednesday of October. This year Global Dignity Day is observed on the 19th of October. The day is an initiative to educate and inspire young people and help them to understand their self-worth and goals. Dignity is an inherent part of the human condition. Global Dignity Day is celebrated to make everyone living in this world realize that they have rights and deserve respect in every aspect.

History of Global Dignity Day: The first Global Dignity Day was observed on October 20, 2008. The third Wednesday of every October marks this celebration Day. Professor Pekka Himanen, John Hope Bryant, and HRH Crown Prince Haakon are the ones who established this Day. Global Dignity is an autonomous, non-political, non-profit, non-criticism organization working towards dignity for all people. They create a global conversation about dignity and support dignity-based leadership to discuss the issue of dignity with the group of young people. On this Day, voluntary facilitators conduct events by visiting schools and tell students about their lives and experiences with dignity. The voluntary facilitators can be of any nationality and any profession.

 

OTHER UPDATES:

 

SPORTS

 

1. Aayan Khan, the youngest player in men’s T20 World Cup 2022: UAE’s Aayan Khan, the 16-year-old all-rounder, is the youngest player to feature in the men’s T20 World Cup. He was picked in the UAE XI for the team’s first match of the T20 World Cup against the Netherlands at the Simonds Stadium in Geelong. He impressed in the U19 World Cup earlier this year with 93 and one for 13 in UAE’s 82-run win over West Indies. Aayan was out for a seven-ball five against the Netherlands. He then bowled three overs for 15 runs and picked a wicket.

Aayan broke Pakistan pacer Mohammad Amir’s record. The left-arm quick played his first T20 World Cup when he was 17 years and 55 days old.

Notably: Netherlands’ Stephan Myburgh, at 38 years and 230 days, is the oldest in the 2022 T20 World Cup. Hong Kong’s Ryan Campbell played in the 2016 World Cup when he was 44 years and 33 days old.

 

2. Rudrankksh Balasaheb Patil wins gold in World Championship and spot at Paris Olympics: Rudrankksh Balasaheb Patil wins gold in World Championship: Rudrankksh Balasaheb Patil defeated Danillo Sollazo of Italy to win the gold medal match 17–13. Rudrankksh Balasaheb Patil’s opponent, Italian Danillo Sollazo, who was competing for the gold medal, had only received a score of 10.2, compared to 10.5 for his pellet. He won 17-13, earning the gold medal because to the two points he received for having the higher score. By placing in the top 4, he had already secured a quota berth for the Paris Olympics a few minutes prior.

 

BANKING AND FINANCE

 

1. RBI and SEBI Issue Standard Operating Procedure for Inter-Operable Regulatory Sandbox (IoRS): SEBI came out with a standard operating procedure for inter-operable regulatory sandbox in a bid to facilitate testing of innovative products falling within the regulatory ambit of more than one financial sector regulators.

What Is Regulatory Integration: Financial products or service providers whose business models fall within the remit of more than one financial sector regulator such as Reserve Bank of India (RBI), SEBI, IRDAI (Insurance Regulatory and Development Authority of India), PFRDA (Pension Fund Regulatory & Development Authority) and IFSCA (International Financial Services Centres Authority) will be considered for the testing under Inter-operable Regulatory Sandbox (IoRS).

Need: To obviate the need of innovators, to engage with different regulators regarding their hybrid product, a common window has been made available. IoRS has been prepared by the Inter-Regulatory Technical Group (IRTG) on FinTech. The group was constituted under the aegis of the Financial Stability and Development Council-Sub Committee (FSDC-SC). The group, in addition to the members from financial sector regulators, has representation from the Department of Economic Affairs, Ministry of Finance and Ministry of Electronics and Information Technology.

Lead: Under the procedure, the FinTech Department of RBI will act as nodal point for receiving applications under IoRS and will be designated as Coordination Group for IoRS. All the necessary secretarial support will be provided by them. The application of IoRS will be on ‘on tap basis’ in a prescribed application form.

 

BUSINESS AND ECONOMY

 

1. Index of Industrial Production (IIP) Witnessed Contraction of 0.8% in August 2022: India’s industrial production slipped to an 18-month low, contracting by 0.8 per cent in August, mainly due to a decline in output of the manufacturing and mining sectors, according to official data. The data showed that the previous low in industrial output growth was a contraction of 3.2 per cent in February 2021.

IIP: Index of Industrial Production (IIP) is an index which details out the growth of various sectors in the economy. The Eight Core Industries comprise more than 40 percent of the weight of items included in IIP. These are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilisers.

It is compiled and published monthly by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation. It is a composite indicator that measures the growth rate of industry groups classified under: Broad sectors, namely, Mining, Manufacturing, and Electricity. Use-based sectors, namely Basic Goods, Capital Goods, and Intermediate Goods. Base Year for IIP is 2011-2012.

 

2. BHEL signed an MoU with CIL & NLCIL for Coal Gasification: Bharat Heavy Electricals (BHEL) signed MoU with Coal India (CIL) and NLC India for setting up Coal Gasification based plants. BHEL rose 2.56% to Rs 62.20 after the company clarified it has entered into a non-binding MoU with CIL and NLCIL. With this, the company aims to set up a Coal Ammonium Nitrate Project with CIL based on the Gasification of high-ash Indian coal, and a lignite-based gasification pilot plant with NLCIL for power generation. The state-run BHEL is engaged in designing, engineering, constructing, Testing, commissioning, and servicing a wide range of products and services to the core sector of the economy.

 

DEFENCE

 

1. Indian Army signs MoU with 11 banks for Agniveer salary accounts: Indian Army signed MoU with 11 banks for providing banking facilities to Agniveers on enrolment. The banks are State Bank of India, Punjab National Bank, Bank of Baroda, IDBI Bank, ICICI Bank, HDFC Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, IDFC First Bank, and Bandhan Bank.

Key Points:

a)      The features and benefits offered under the Agniveer salary package are similar to the defense salary package.

b)      The banks have offered soft loans to exiting Agniveers to promote and enhance their entrepreneurial skills.

c)       From January 2025, the first batch of Agniveers will join training centers under the Agnipath Scheme.

d)      On 14th June, the Agnipath Scheme was announced to provide recruitment of youth between the age of 17 to 21 Years for four years.

e)      The Scheme provides provisions to retain 25 percent of them for 15 more years.

f)        The government however extended the upper age limit of 23 years for recruitment in 2022.