Daily GK Update- 27th Oct, 2022

 

NATIONAL UPDATES:

 

1. Prime Minister Launches the 1st Phase of “Rozgar Mela” to Provide Jobs to 10 lakh Youths in Central Government: Prime Minister Narendra Modi launched the Rozgar Mela recruitment drive to hire 10 lakh personnel. In the first tranche, 75,000 new appointees will be given jobs. The new recruits, selected from across the country, will join 38 government ministries and departments. They will be appointed across various levels viz. Group A, Group B (Gazetted), Group B (Non-Gazetted) and Group C.

The Prime Minister’s Office said this will be a significant step of the government towards providing job opportunities for the youth and ensuring the welfare of the citizens. It said that as directed by the prime minister, all ministries and department are working towards filling up existing vacancies against sanctioned posts. The recruitment will take place across central armed forces personnel, sub-inspectors, constables, LDCs, Stenos, PAs, income tax inspectors, MTS among others.

 

2. Punjab Government: Return of Old Pension Scheme for its Employees: The Punjab Government decided to restore the old pension scheme for its employees. Chief Minister Bhagwant Mann announced that the government has decided to implement the old pension scheme as a Diwali gift for its employees. The decision was taken as an in-principle decision to the effect of the cabinet meeting. The decision aims to benefit lakhs of employees.

Finance Minister Harpal Singh Cheema said that the employees will be given the option to join the old pension scheme. The government was considering restoring the scheme for government employees for a month. Restoration of the old pension scheme was discontinued in 2004 and it has been one of the major demands of state government employees.

Old Pension Scheme in Punjab: The old pension scheme of the government referred to as the Defined Benefit Pension System (DBPS) based on the last pay drawn by the employee. The New Pension Scheme is referred to as the Defined Contribution Pension System (DCPS), in which the employer and employee contribution to build a pension wealth payable at the time of retirement by way of annuity withdrawal as per norms.

 

3. Windergy 2023 to be Held in Chennai in October Next Year: The 5th edition of India’s only comprehensive International Trade Fair and Conference, Windergy India 2023 will be held from 4th October to 6th October 2023. The Windergy India 2023 will be organized by the Indian Wind Turbine Manufacturers Association (IWTMA) and PDA Ventures Pvt Ltd, the three-day trade fairs and conference will provide a vibrant platform to meet and interact with policymakers, regulatory authority, international and domestic technology, solution and services providers from the wind power industries.

About IWTMA: Indian Wind Turbine Manufacturers Association (IWTMA) was established in 1998 and is the apex business association and voice of the Indian wind Industry. IWTMA has been at the forefront of the policy framework and regulatory intervention with proactive engagement with Central and State policymakers, Investors, and Stakeholders.

 

4. Tamil Nadu government constituted panel for conservation of vultures: Tamil Nadu government has constituted a 10-member state-level committee for the conservation of vultures, an endangered species. The “Vulture Conservation Committee”, headed by the principal chief conservator of forests and chief wildlife warden, will monitor, conserve, and recover vulture sites; map vulture populations; and create safe zones for them. The tenure of the committee is two years. The committee will prepare and implement the “Tamil Nadu Action Plan for Vulture Conservation (TNAPVC)” and chalk out and implement a regulatory mechanism to ban drugs toxic to vultures.

Note: Tamil Nadu Capital: Chennai; Chief Minister: M K Stalin; Governor: R N Ravi

 

5. LVM3 Launch to Mark ISRO’s Entry into Global Commercial Launch Service Market: The heaviest rocket LVM3 of the Indian Space Research Organization (ISRO) launched 36 satellites of British start-up OneWeb Broadband Communication Satellites from the spaceport in Andhra Pradesh’s Sriharikota on October 23, 2022. It marked the launcher’s entry into the global commercial launch service market.

“This contract with M/s OneWeb is a historic milestone for NSIL and ISRO, as LVM3 is making its entry into the Global commercial launch service market. As part of the Contract, 36 satellites will be placed into orbit by one LVM3, from Satish Dhawan Space Centre,” ISRO had said.

Commercial Arm of the ISRO: New Space India Limited (NSIL), a CPSE under the Department of Space and the commercial arm of the ISRO, has signed two launch service contracts with M/s Network Access Associated Limited (M/s OneWeb), United Kingdom, for launching OneWeb LEO Broadband Communication Satellites on board ISRO’s heaviest launcher LVM3.

 

6. Quality Council of India appoints Jaxay Shah as new chairman: Prime Minister Narendra Modi has appointed Jaxay Shah, founder chairman of Savvy Group and former chairman of CREDAI as the chairman of the Quality Council of India (QCI) for three years, the Ministry of Commerce & Industry. He will succeed former McKinsey India chief Adil Zainulbhai, who served as the chairman of QCI through three terms for eight years from 2014 to 2022.

About the Quality Council of India: QCI was established in 1997 through a Cabinet note by the Government of India. QCI is mandated to promote quality in the country through national accreditation of testing, inspection and certification bodies which is internationally recognised, driving third-party assessments across sectors.

 

INTERNATIONAL UPDATES:

 

1. Pakistan Removed from FATF Grey List on Terror Financing: Pakistan has been removed from the grey list of the Financial Action Task Force (FATF), the Paris-based global watchdog on money laundering and terrorist financing. In a statement, the FATF said Pakistan made significant progress in checking money laundering and combating financing of terrorism.

FATF Decisions: Besides Pakistan, Nicaragua was removed from the FATF’s ‘grey list’ while Democratic Republic of the Congo, Tanzania and Mozambique were added to the list. Myanmar was added to the FATF’s ‘black list’.

The Pakistan’s Case: This development comes more than four years after the FATF put Pakistan on its grey list for the country’s failure to check the risk of money laundering, leading to corruption and terror financing. Pakistan had completed most of the action items given to it by the FATF in 2018. However, only a few items that were left unfulfilled included its failure to take action against UN-designated terrorists, including Jaish-e-Mohammed (JeM) chief Masood Azhar, Lashkar-e-Taiba (LeT) founder Hafiz Saeed and his trusted aide and the group’s “operational commander”, Zakiur Rehman Lakhvi.

 

2. FATF Blacklists Myanmar, Calls for Due Diligence to Transactions in Nation: Money laundering and terrorist financing watchdog Financial Action Task Force (FATF) has put Myanmar on the “black list” and has called on members to apply enhanced due diligence to business relations and transactions in Myanmar

Myanmar has entered the FATF’s high-risk jurisdictions list, often referred to as the ‘black list’. The FATF blacklist, officially designated as High-Risk Jurisdictions subject to a Call for Action, identifies nations with weak anti-money laundering and counter-terrorist funding regulatory frameworks. In February 2020, Myanmar committed to addressing its strategic deficiencies. Myanmar’s action plan expired in September 2021.

FATF Strict Actions: In June 2022, the FATF strongly urged Myanmar to swiftly complete its action plan by October 2022 or the FATF would call on its members and urge all jurisdictions to apply enhanced due diligence to business relations and transactions with Myanmar. FATF said that given the continued lack of progress and the majority of its action items still not addressed after a year beyond the action plan deadline, the FATF decided that further action was necessary in-line with its procedures. FATF called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar.

 

3. India Ranks 41st Among 44 Nations in Pension Index: As compared to 40th out of 43 countries in 2021, India ranked 41 out of 44 countries in the Mercer CFS Global Pension Index. The MCGPI is a comprehensive study of 44 global pension systems, accounting for 65 percent of the world’s population. The survey pointed out that the country needs to strengthen its regulatory framework and boost the coverage under private pension arrangements.

About The Report: Mercer CFS Global Pension Index studies 44 countries that account for 65 per cent of the world’s population. The index value was up from 2021 but below that in 2020. In 2020, India ranked 34 out of 39 countries with a value of 45.7. In 2022, the index value was 44.4. The index measures the pension system in the country under three sub-heads, adequacy, sustainability and integrity. India’s score in these three measurements was 33.5, 41.8 and 61 respectively.

Overall Ranking: Globally, Iceland had the highest overall index value (84.7), closely followed by the Netherlands (84.6) and Denmark (82.0). Thailand had the lowest index value (41.7).

 

4. World Day for Audiovisual Heritage: 27th October: World Day for Audiovisual Heritage (WDAH) is celebrated on October 27 every year to highlight and promote the importance of such preservation. Audiovisual heritage refers to documents like film, sounds, radio, television programmes and other audio and video that are of socio-cultural importance and need preservation for posterity. Such documentations help us observe and understand the past, protects our memories and culture. “Enlisting documentary heritage to promote inclusive, just and peaceful societies” is the theme for WDAH this year. It refers to the importance of archiving visual and sonic information to preserve history for society’s benefit and progress.

World Day for Audiovisual Heritage History: On October 27, 1980, the Recommendation for the Safeguarding and Preservation of Moving Images was adopted in the 21st General Conference of the United Nations Educational, Scientific and Cultural Organization (UNESCO) at Belgrade, Serbia. This adoption occurred as a result of the efforts of the International Federation of Film Archives (FIAF) since the late 1970s. The 33rd session of UNESCO’s General Conference in 2005 proclaimed October 27 as World Day for Audiovisual Heritage to commemorate the 25th anniversary of the 1980 recommendation mentioned above.

Note: International Federation of Film Archives Headquarters location: Brussels, Belgium; International Federation of Film Archives Founded: 17 June 1938, Paris, France.

 

OTHER UPDATES:

 

SPORTS

 

1. Former cricketer Yuvraj Singh named brand ambassador of T20 World Cup for the Blind: The Cricket Association for the Blind in India (CABI) has announced former India cricketer Yuvraj Singh as their brand ambassador for the 3rd T20 World Cup for the Blind to be held in India in December. Ajay Kumar Reddy B2 (Andhra Pradesh) will lead the Indian team while Venkateswara Rao Dunna – B2 (Andhra Pradesh) will be the vice-captain.

The World Cup matches will be held from December 6 to 17. The participating countries for the 3rd T20 World Cup for the Blind are India, Nepal, Bangladesh, Australia, South Africa, Pakistan and Sri Lanka. The opening match will be played between defending champions India and Nepal on December 6 in Faridabad. About the Samarthanam Trust:

a)      The World Cup is an initiative of the Samarthanam Trust for the disabled, which has been organizing this championship since 2012. Samarthanam perceives sports as a medium to improve inclusion and encourage persons with disabilities on various fronts.

b)      Since its inception, the trust has reached out to more than 25,000 visually impaired crickets.

c)       Samarthanam’s sports wing, Cricket Association for the Blind in India (CABI), was established in 2010 to foster the cricketing dreams of visually impaired cricket players and to provide a platform to portray their unbound talent in the game of blind Cricket. CABI is affiliated with World Blind Cricket Council (WBC).

Note: World Blind Cricket Council Founded: September 1996; World Blind Cricket Council President: Syed Sultan Shah.

Cricket Association for the Blind in India Founded: 2011; Cricket Association for the Blind in India President: Mahantesh Kivadasannavar; Cricket Association for the Blind in India Headquarters: Bengaluru, India; Cricket Association for the Blind in India Secretary: John David Endala;

 

BUSINESS AND ECONOMY

 

1. HCL’s Shiv Nadar named country’s most generous philanthropist: HCL founder Shiv Nadar topped as the most generous person in the country with an annual donation of Rs 1,161 crore, the EdelGive Hurun India Philanthropy List 2022 revealed. Nadar, 77, has reclaimed the ‘India’s most generous’ title with a donation of Rs 3 crore per day, according to the report.

Wipro’s Azim Premji, 77, slipped to the second position with an annual donation of Rs 484 crore after ruling at the top position for the last two consecutive years, it said. India’s richest man Gautam Adani, 60, ranked seventh in Edelgive Hurun India Philanthropy List 2022, with a donation of Rs 190 crore. Key Points in The Report:

a)      The report further revealed that in India a total of 15 individuals made an annual donation of over Rs 100 crore, 20 donated over Rs 50 crore and 43 over Rs 20 crore.

b)      Based on the place of residence, Mumbai led with 33 per cent of the list of most generous people in the country, followed by New Delhi accounting for 16 per cent, and Bengaluru at 13 per cent.

c)       The pharmaceutical industry has the largest number of philanthropists in the list, accounting for 20 per cent, followed by chemicals and petrochemicals at 11 per cent.

d)      The average age of philanthropists on the list is 69 years, which is two years older than last year’s.

 

Top 10 in the EdelGive Hurun India Philanthropy List 2022 is shown below:

 

Rank	Name	Donation (Rs cr)	Primary cause	Company
1	Shiv Nadar & family	1,161	Education	HCL Technologies
2	Azim Premji & family	484	Education	Wipro
3	Mukesh Ambani & family	411	Education	Reliance Industries
4	Kumar Mangalam Birla & family	242	Healthcare	Aditya Birla
5	Susmita and Subroto Bagchi	213	Healthcare	Mindtree
6	Radha and NS Parthasarathy	213	Healthcare	Mindtree
7	Gautam Adani & family	190	Disaster Relief	Adani
8	Anil Agarwal & family	165	Disaster Relief	Vedanta
9	Nandan Nilekani	159	Societal Thinking	Infosys
10	AM Naik	142	Healthcare	Larsen & Toubro

 

AWARDS AND HONOURS

 

1. Telangana Hyderabadi Haleem bags ‘Most Popular GI’ award: Telangana’s Hyderabadi Haleem has won the ‘Most Popular GI’ award after beating other food items including Rasgulla, Bikaneri Bhujiya, and Ratlami Sev. In a rigid competition with more than 15 food items across the country with Geographical Indication (GI) status, the famous Hyderabadi Haleem has bagged the ‘Most Popular GI’ award.

GI tag is given to products to ensure that authorised users can only use the popular product name. For the first time, GI status was accorded to Hyderabadi Haleem in 2010. It expired in December 2019. However, later, the registrar of Geographical Indicator renewed the tag for the dish for 10 years.

Notably: Other Telangana items that were accorded GI tag include Nirmal toys and crafts, Nirmal furniture, Nirmal Paintings, Gadwal sari, and Banaganapalle Mangoes.

 

OBITUARIES

 

1. Red Bull Formula One owner Dietrich Mateschitz passes away: Austrian billionaire Dietrich Mateschitz, the co-founder of energy drink company Red Bull and founder and owner of the Red Bull Formula One racing team, has died. He was 78. Officials with the Red Bull racing team at the United States Grand Prix in Austin, Texas, announced Mateschitz’s death. The Red Bull Racing team has enjoyed success in Formula 1, winning the constructors’ championship in 2010, 2011, 2012 and 2013.

Daily GK Update- 26th Oct, 2022

NATIONAL UPDATES:

 

1. India to Beat US, Europe in Terms of Learners: Coursera chief: India is anticipated to surpass its residence market, the United States, and even Europe in terms of learners over the subsequent 18-20 months, edtech agency Coursera’s chief Jeff Maggioncalda said. The firm, which has 17 million learners and content material partnerships with 15 universities in India, is anticipated to overtake the United States and Europe. It has 20 million learners in America and 19 million in Europe.

 

2. Mission LIFE movement launched by PM Modi at Kevadiya: Mission LIFE movement is launched by PM Modi to protect the environment. Prime Minister Narendra Modi issued a stern warning. After the global launch of Mission LiFE at the Statue of Unity in Gujarat in the presence of UN Secretary-General Antonio Guterres, the PM addressed the crowd and asserted that lifestyle changes can help to mitigate climate change. Key Points:

a)      The PM noted, reiterating India’s commitment to combating the threat of climate change, that a circular economy and reduce, reuse, recycle principles have been ingrained in Indian culture for thousands of years.

b)      India is the best example of economic progress and environmental protection.

c)       The PM referred to Mahatma Gandhi’s idea of trusteeship and said that the Mission LiFE invites us to be environmental trustees.

d)      Modi emphasised that dealing with climate change is not merely a matter of government policy. The need for individuals to work together to address climate change.

e)      According to the PM, living on a mission enhances the idea of pro-planet people.

f)        PM Modi praised Gujarat’s initiatives in the fields of environmental preservation and renewable energy.

 

3. World Spice Congress 14th edition organized in Maharashtra: The 14th World Spice Congress will take place in the CIDCO Exhibition and Convention Centre in Navi Mumbai, Maharashtra, from February 16 to 18, 2023. Spices Board India in conjunction with several trade and export forums is hosting the World Spice Congress during India’s G20 presidency.

Key Points:

a)      The 14th edition of the World Spice Congress (WSC) is going to be all about and only about ‘SPICES,’ after announcing the subject. Vision 2030: SPICES (Sustainability- Productivity- Innovation- Collaboration- Excellence and Safety) has been selected as the subject for the current World Spice Congress (WSC).

b)      Over a thousand delegates from more than fifty nations are anticipated to attend the 14th WSC.

c)       Regulatory authorities from significant importing nations, ministers of trade, and industry associations from G20 member nations will all attend the event.

d)      The World Spice Congress (WSC) event will also host an expo showcasing the advantages and skills of the Indian spice sector in addition to the business workshops.

e)      The Indian spice industry’s product line, applications in the medical and health fields, innovations, and cutting-edge technology are set to be on display at the event.

 

4. Pradeep Kharola named as CMD of India Trade Promotion Organization: Former Civil Aviation Secretary, Pradeep Singh Kharola was appointed as the Chairman and Managing Director of the India Trade Promotion Organization (ITPO). Kharola, a 1985 batch Indian Administrative Service (IAS) officer of the Karnataka cadre, retired as the Civil Aviation secretary in September last year. The Appointments Committee of the Cabinet (ACC) has accepted Kharola’s appointment as Chairman and Managing Director, ITPO, on a contract basis for two years from the date of assumption of charge of the post.

Note: India Trade Promotion Organization Headquarters: New Delhi; India Trade Promotion Organization Founded: 1 April 1977.

 

5. Chandrayaan-3 set for launch in August 2023: The Indian Space Research Organization (ISRO) plans to launch its third lunar mission in the month of June 2023. The more capable lunar rover that will be carried by Chandrayaan-3, which is essential for future interplanetary explorations, according to S. Somnath, Chairman of the Indian Space Agency, ISRO. Key Points:

a)      According to S Somnath, the Geosynchronous Launch Vehicle Mark-III (GSLV Mk-III) will launch Chandrayaan-3 (C-3) in June of next year.

b)      ISRO is also working on the Gaganyaan mission, and the first abort test is scheduled for the new year.

c)       The mission will rely on the Chandrayaan-2 orbiter, which is already circling the Moon; the Chandrayaan-3 rover is not a clone of its predecessor, according to the head of ISRO. “C-3 is now prepared.

d)      It’s not an exact copy of the C-2. There is the rover. Engineering has undergone a huge change. We have strengthened it so that it won’t experience issues like it did previously as per Indian Space Research Organization (ISRO) chairman.

 

6. Cyclone Sitrang hit densely populated area in Bangladesh, Indian region affected: Cyclone Sitrang ploughed into heavily populated, low-lying parts of Bangladesh on night, killing at least nine people. The districts of Barguna, Narail, Sirajganj, and the island district of Bhol all reported death. Officials warned that as more casualties are reported from other districts, the death toll could rise. Key Points:

a)      Cyclone Sitrang quickly degraded into a deep depression after crossing Bangladesh, and as of Tuesday morning, it had further degraded into a low pressure region.

b)      Assam, Arunachal Pradesh, Meghalaya, Mizoram, and Tripura may experience widespread moderate to heavy rainfall on Tuesday due to the system, which is now moving towards northeastern areas of India.

c)       Meanwhile, the India Meteorological Department issued a warning for squally winds on Tuesday morning along and off the coast of West Bengal, with gusts up to 60 kmph.

d)      By afternoon, these winds will gradually weaken to 30 to 40 kmph gusting to 50 kmph. According to the IMD, Tuesday’s forenoon is predicted to see an improvement in the weather in south Bengal regions.

e)      In West Bengal’s coastal districts of South 24 Parganas, North 24 Parganas, and East Midnapore, the cyclone caused moderate to heavy rain between 9.30 p.m. and 11.30 p.m. on Monday, dampening Diwali and Kali Puja celebrations.

 

INTERNATIONAL UPDATES:

 

1. Rishi Sunak, Youngest UK PM in two centuries, takes office: Rishi Sunak will be named as the PM of UK, and he will be the first British Prime Minister of Indian descent. In a remarkable shift of power during an economic crisis. In the midst of a “deep economic dilemma,” the future prime minister of the UK, Rishi Sunak, has called for cooperation. Key Points:

a)      Due to Penny Mordaunt’s inability to garner enough support from MPs, he won the race for the Conservative Party leadership.

b)      Rishi Sunak declared that uniting his party and the UK would be his utmost priority in his opening statement.

c)       Rishi Sunak, 42, is the first British Asian prime minister since more than 200 years and will also be the youngest.

d)      He succeeds Liz Truss, who resigned last week barely 45 days into her turbulent premiership.

e)      Rishi Sunak took over as Conservative Party leader after his old employer Boris Johnson cancelled his attempt to make a comeback and his competitor Penny Mordaunt was unable to win enough support from Conservative MPs.

 

2. India Ranks 3rd in list of Centi-millionaires, to Overtake China by 2032: With levels of poverty, inflation and hunger notwithstanding, India ranks third in the world’s first-ever global study on the rise of centi-millionaires — individuals with assets of more than Rs 830 crore ($100 million), a new report has revealed. Key Points:

a)      Out of the world’s 25,490 centi-millionaires, India has 1,132, beating countries like the UK, Russia and Switzerland, in a swift growing and powerful class of super-rich tech titans, financiers, multinational CEOs, and heirs.

b)      By 2032, India will overtake China (number 2) as the fastest growing market for centi-millionaires, with an anticipated 80 per cent growth rate in individuals worth over $100 million, the report released by international investment migration advisory firm Henley & Partners stated.

c)       At around 57 per cent, the growth of centi-millionaires in Asia will be twice that of Europe and the US over the next decade. Concentrated primarily in China and India, the centi-millionaires in these countries are set to eclipse their European and American peers.

Overall Ranking:

a)      Of the world’s 25,490 centi-millionaires, the US, which ranks at number 1, is home to 38 per cent (9,730) of global centi-millionaires, despite constituting only 4 per cent of the world’s total population.

b)      It is closely followed by big emerging markets of China and India in second and third place, with 2,021 and 1,132 centi-millionaires, respectively.

c)       The UK is in fourth place (with 968 centi-millionaires) followed closely by Germany in fifth place (with 966).

d)      Switzerland (808), Japan (765), Canada (541), Australia (463), and finally Russia (435) make up the rest of the top 10 countries for centi-millionaires.

 

3. Guinness World Records Officially Declares Monday ‘Worst Day of The Week’: Guinness World Records has officially declared “Monday” the worst day of the week. After Guinness World Records’ move, all of that will no longer be smoothed over into a wishy-washy ‘Monday blues’ packet. It’s real now. Going into Monday means you’re going into the officially declared and universally accepted worst day of the week. Now you could blame your general grumpiness on it being Monday. It would be a concern only during the remaining six days of the week. Guinness World Records (GRW) took to Twitter and officially presented Monday the accolade of being the worst day of the week.

Note: Guinness World Records Publisher: Jim Pattison Group; Guinness World Records Editor: Craig Glenday.

 

OTHER UPDATES:

 

SPORTS

 

1. 5th Khelo India Youth Games to be held in Madhya Pradesh: The 5th edition of the Khelo India Youth Games will be held in Madhya Pradesh from 31st January to 11th February 2023. Indigenous games will be a part of the upcoming Khelo India Youth Games. Madhya Pradesh has made the sport of Mallakhamb their state sport for supporting the vision of Prime Minister Narendra Modi to support Olympics sports and indigenous sports in the same manner.

Key Points:

a)      Khelo India Youth Games will be held in eight locations.

b)      More than 8500 athletes and sportspersons are expected that participate in the KIYG 2023.

c)       Khelo India Youth Games started in 2016 and since then, it has provided an effective platform for the youth of India to showcase their talents in sports.

d)      The Khelo India Youth Games will feature 27 disciplines in total. In the history of the Khelo India Youth Games, water sports are also included for the first time.

 

BUSINESS AND ECONOMY

 

1. Drones can help raise $100-bn GDP boost, lakhs of jobs in India: WEF Report: Drones can help raise $100-bn GDP boost: The World Economic Forum (WEF) said in a new report that putting drones at the centre of a technology-led transformation of Indian agriculture can enhance the nation’s GDP by 1–1.5% and create at least five lakh employment in the next few years. Key Points:

a)      The report created by WEF’s Centre for Fourth Industrial Revolution in India in partnership with the Adani Group and released here, described how drone-based technology may revolutionise Indian agriculture.

b)      The WEF report presents use cases for drones that combine military and civilian technologies and are made possible by digital adoption, analytics, digital financing, and a concerted local stakeholder effort.

c)       It also offers a framework for the creation of scalable pilots that can be put into practise by different governments.

 

2. Mahindra Finance partnered with India Post Payments Bank to Boost Credit Access: Mahindra and Mahindra Financial Services Ltd announced a strategic partnership with India Post Payments Bank to enhance credit access to a larger customer base. India Post Payments Bank will provide lead referral services to Mahindra Finance for Passenger vehicles, three-wheelers, tractors, and commercial vehicle loan categories and provide cash EMI deposit facilities to existing Mahindra Finance Customers at the post office. Key Points:

a)      The scheme will go live in India Post Payments Bank branches in the states of Maharashtra and Madhya Pradesh.

b)      The payments Bank will also be able to expand its financial product portfolio within the payment Bank licensing framework.

c)       The objective is to enable simplified and reliable access to credit.

d)      The Tie-up will enable customers with financial security, empowerment, and ease of repayment.

e)      India Post Payments will provide a large set of networks to Mahindra Finance.

 

3. Fintech platform PhonePe launches its first green data centre in India: PhonePe, a homegrown fintech platform, announced the launch of its first green data centre in India, leveraging technologies and solutions from Dell Technologies and NTT. The facility opens up new opportunities in data management for PhonePe, with efficient data security, power efficiency, ease of operations, and cloud solutions. The centre will also help the company to build sustainable and efficient infrastructure to scale its operations across the country further seamlessly. Green Data Center

a)      The Green Data Center is set to open up new opportunities in data management for PhonePe, with efficient data security, power efficiency, ease of operations, and cloud solutions. The center will also help the company to build sustainable and efficient infrastructure to further seamlessly scale its operations across the country.

b)      This 4.8-megawatt facility, which occupies 13740 sqft at Mahape, Navi Mumbai, is built and designed with advanced alternative cooling technologies like Direct Contact Liquid Cooling (DCLC) and Liquid Immersion Cooling (LIC). The data centre’s Dell PowerEdge servers will provide exceptional performance, simplified management, and intelligent automation while using less energy.

c)       Green data centres are the future of sustainable digital transformation. This deployment is an exciting showcase for the possibilities of new alternative cooling technologies that can help optimise power consumption in a data centre.

Note: CEO of Phonepe: Sameer Nigam; Headquarters location of Phonepe: Bengaluru, Karnataka.

 

AWARDS AND HONOURS

 

1. DX 2022 Awards: Karnataka Bank bags digital transformation awards of CII: Karnataka Bank has bagged the National Digital Transformation Awards, “DX 2022 Awards” instituted by the Confederation of Indian Industry (CII) for best practices in digital transformation under the BFSI segment. The awards in recognition of the “Innovative Excellence” in ‘KBL HR NxT – Employee Engagement’, ‘KBL Operations NxT – Operational Excellence’ and ‘KBL Customer NxT – Customer Experience’ were presented to senior executives of the bank at New Delhi.

a)      In 2017, KBL launched its Transformation Journey ‘KBL Vikaas’, partnering with the Boston Consulting Group (India) Private Ltd, (BCG) in Mangaluru, Karnataka.

b)      In 2021, KBL launched the ‘KBL NxT’ concept to emerge as the ‘digital bank of the future’.

c)       The bank focuses on digitisation under verticals such as customer experience, operations, human resources, technology, cyber security, digital marketing, partnerships, etc.

d)      Through the KBL Vikaas program, Digital transformation has started paying a huge share to the bank

Note: Karnataka Bank Headquarters: Mangaluru; Karnataka Bank CEO: Mahabaleshwara M.S; Karnataka Bank Founded: 18 February 1924.

 

2. Uttar Pradesh bags top honours at PMAY-U Awards 2021: Under the BJP-led Centre’s flagship, Pradhan Mantri Awas Yojana – Urban (PMAY-U) housing scheme have been delivered and the rest are under various stages of completion, Union Minister of Housing & Urban Affairs Hardeep Singh Puri. PMAY-U Awards 2021 is scheduled annually to recognise the contribution of States, Union Territories and urban local bodies with regard to the implementation of the scheme in Rajkot. Key points:

a)      In the awards, Uttar Pradesh bagged the first position followed by Madhya Pradesh and Tamil Nadu at second and third place, respectively.

b)      Poll-bound Gujarat saw five special category awards for performance related to Affordable Rental Housing Complexes and ‘Convergence with other Missions’ coming its way.

c)       Madhya Pradesh got three special category awards followed by Jammu and Kashmir, which was adjudged the ‘Best Performing UT’ alongside Dadra and Nagar Haveli and Daman & Diu.

d)    Odisha has been felicitated with the prestigious PMAY-U Awards 2021 by the Ministry of Housing and Urban Affairs (MoHUA) for the best policy initiative under a special category.