NATIONAL UPDATES:
1. Bharat Drone
Mahotsav 2022: PM Modi inaugurated India’s biggest drone festival: Prime
Minister Narendra Modi has inaugurated India’s biggest drone festival here and
interacted with Kisan drone pilots as well as witnessed open-air drone
demonstrations. ‘Bharat Drone Mahotsav 2022’ is set to be a two-day event being
held on May 27 and 28. The prime minister will interact with Kisan drone
pilots, witness open-air drone demonstrations and interact with startups in the
drone exhibition centre. About the Bharat Drone Mahotsav 2022:
a)
According to the Prime Minister’s
Office, more than 1600 delegates, consisting of government officials, armed
forces, central armed police forces, Public Sector Units (PSUs), foreign
diplomats, private companies as well as drone startups, etc., will participate
in the Bharat Drone Mahotsav 2022.
b)
The PMO mentioned that more than 70
exhibitors will display various use cases of drones at the Drone Festival. The
Bharat Drone Mahotsav 2022 will also witness a virtual award of drone pilot
certificates, panel discussions, product launches, a display of a ‘Made in
India’ Drone Taxi prototype, and flying demonstrations, among others, the Prime
Minister’s Office further added.
2. Rajnath Singh
approves new Defence Estates Circle for Uttarakhand: Union Defence Minister
Rajnath Singh has approved the proposal for the creation of a new Defence
Estates Circle exclusively for Uttarakhand. In view of the difficulties faced
in managing large tracts of defence land in the state and the demand of
cantonment residents in Uttrakhand, the MoD will establish an independent
office of Defence Estates at Dehradun and a sub-office at Ranikhet. About
the Defence Estates Circle:
a)
The creation of a new Defence Estates
Circle at Dehradun exclusively for Uttarakhand will facilitate the residents/
organisations in getting timely and quick access to various services of defence
land management.
b)
In order to further decentralize the
governance structure, Raksha Mantri has also approved the establishment of a
sub-office at Ranikhet under the administrative jurisdiction of Defence Estates
Dehradun to deal exclusively with six districts of the Kumaon region of the
state.
c)
Earlier, the entire defence land and
cantonments in Uttrakhand were covered under two distinct Defence Estates
Circles headquartered at Meerut and Bareilly in Uttar Pradesh.
3. Jitendra Singh
inaugurates India’s first ‘Lavendar Festival’ in Bhaderwah: Union Minister Dr
Jitendra Singh has inaugurated the country’s first ‘Lavendar festival’ at
Jammu’s Bhaderwah where the cultivation of lavender has transformed the economy
of the mountainous area. Bhaderwah in the Doda district is the birthplace of
India’s purple revolution. The minister described Bhaderwah in the Doda
district as the birthplace of India’s purple revolution. Key points:
a)
Lavender has changed the fortunes of
farmers in Jammu and Kashmir under the ‘Aroma Mission or Purple Revolution’, an
initiative of the Central government towards transforming the lives of UT’s
farmers’ community.
b)
The Purple or Lavender Revolution was
launched in 2016 by the Union Ministry of Science & Technology through the
Council of Scientific & Industrial Research’s (CSIR) Aroma Mission.
c)
The aim of the mission is to support
the domestic aromatic crop-based agroeconomy by moving from imported aromatic
oils to homegrown varieties. Lavender cultivation is practised in almost all 20
districts of Jammu and Kashmir.
Under the mission:
a)
First-time farmers were given free
lavender saplings while those who had cultivated lavender before were charged
Rs. 5-6 per sapling. The mission promotes the cultivation of aromatic crops for
essential oils that are in great demand by the aroma industry.
b)
In J&K, the Council of Scientific
and Industrial Research (CSIR) and the Indian Institute of Integrative
Medicine, Jammu (IIIM Jammu) are the two bodies responsible for taking the
Aroma Mission forward.
c)
The CSIR Aroma Mission is envisaged to
bring transformative change in the aroma sector through desired interventions
in the areas of agriculture, processing, and product development for fuelling
the growth of the aroma industry and rural employment.
d)
More than 800 progressive farmers of
Doda have adopted aromatic cultivation which is now proved to be profitable.
The mission was aimed to increase lavender cultivation to 1,500 hectares by
2024.
INTERNATIONAL UPDATES:
1. UNICEF-WHO release
the first Global Report on Assistive Technology: The World Health Organization
(WHO) and the United Nations Children’s Fund (UNICEF) have released the first
Global Report on Assistive Technology (GReAT). The paper, which was created in
conjunction with UNICEF’s Office of Research – Innocenti, includes 10 important
actionable suggestions for enhancing access to assistive technology for all
children, as well as evidence-based best practise examples. Key Points:
a)
Through a network of academic
institutions, researchers, policymakers, donors, and practitioners, UNICEF
Office of Research – Innocenti is at the forefront of the establishment of a
Global Research Agenda and Platform for Children to amplify the voice of
children and youth with disabilities.
b)
With the help of UNICEF‘s Office of
Research – Innocenti, UNICEF and WHO created a series of 11 free-access
background papers to accompany the Report.
c)
Around the world, 2.5 billion people
require assistive technology. According to the estimate, by 2050, the
population will have grown to 3.5 billion people.
d)
The gaps between low- and middle-income
countries and high-income countries in terms of access to assistive technology
are disturbing.
e)
Access to assistive technology for
individuals who need it is as low as 3% in some low- and middle-income nations,
whereas it is significantly higher in high-income countries, with up to 90% of
people receiving the assistive devices and services they require.
f)
The worldwide impact of the WHO-UNICEF
Global Report on Assistive Technology in this scenario will be unprecedented.
Enabling settings and Assistive Technology are recognised in the Global Report
as prerequisites for people in need to realise their human rights.
Note: World Health
Organization (WHO) headquarters: Geneva, Switzerland
United Nations
Children’s Fund (UNICEF) headquarters: New York, United States
2. Indian officer
Anwar Hussain Shaik is new chair of WTO committee: An Indian Government
Officer, Anwar Hussain Shaik has been made the chair of the World Trade
Organisation’s Committee on Technical Barriers on Trade. Mr. Shaik will take
this role from Elisa Maria Olmeda de Alejandro from Mexico. WTO is a 164-member
multilateral body which formulates rules for global exports and imports and
adjudicates disputes between countries on trade-related issues. India is a
member since 1995.
Technical Barriers to
Trade (TBT) Agreement: The Technical Barriers to Trade (TBT)
Agreement aims to ensure that technical regulations, standards and conformity
assessment procedures are non-discriminatory and do not create unnecessary
obstacles to trade. TBT Committee work involves two broad areas, review of
specific measures and strengthening implementation of the TBT Agreement. WTO
members use this committee to discuss specific trade concerns, specific laws,
regulations or procedures that affect their trade, usually in response to
notifications.
Note: WTO
Headquarters: Geneva, Switzerland; WTO Purpose: Reduction of tariffs and other
barriers to trade; WTO Founded: 1 January 1995.
3. International Day
of UN Peacekeepers: 29th May: International Day of UN Peacekeepers is observed
globally on 29th May. The International Day of United Nations Peacekeepers
offers a chance to honour around 4,200 peacekeepers who lost their lives
serving under the UN flag since, including 135 who lost the battle last year.
The theme for this year’s Day is “People. Peace. Progress. The Power of
Partnerships.”
History of the day: The first UN
peacekeeping mission was established on 1948, May 29 when the Security Council
deployed a small number of UN military observers to the Middle East to form the
United Nations Truce Supervision Organization (UNTSO) with the objective to
monitor the Armistice Agreement between Israel and its Arab neighbours. Since
1948, more than 1 million people have served in the UN peacekeeping operations,
which were 72 in number.
OTHER UPDATES:
SPORTS
1. ISSF Junior World
Cup 2022: India won 33 medals: International Shooting Sport Federation (ISSF)
Junior World Cup 2022 was held at Suhl in Germany. The Indian contingent was
led by ace shooters Manu Bhaker and Saurabh Chaudhary. At the ISSF Junior World
Cup 2022, the Indian junior shooting team came in first position overall. They
won 33 medals in total, including 13 gold, 15 silver, and 5 bronze. With four
gold medals, Italy came in second place. At the last edition of the ISSF Junior
World Cup in 2021, India had 43 medals – 17 golds, 16 silvers and 10 bronze –
to top the medals table.
India’s medal winners
at ISSF Junior World Cup 2022:
|
Gold |
Silver |
|||
|
1 |
Simranpreet Kaur Brar and Vijayveer Sidhu – 25m rapid fire pistol
mixed team |
1 |
Anish-Tejaswani – 25m rapid fire pistol mixed team |
|
|
2 |
Anish Bhanwala, Vijayveer Sidhu and Sameer – men’s 25m rapid fire
pistol team |
2 |
Pankaj Mukheja and Sift Kaur Samra – 50m rifle 3 positions mixed team |
|
|
3 |
Manu Bhaker, Esha Singh and Rhythm Sangwan – women’s 25m pistol team |
3 |
Shivam Dabas, Pankaj Mukheja, Avinash Yadav – men’s 50m rifle 3
positions team |
|
|
4 |
Sift Kaur Samra – women’s 50m rifle 3 positions individual |
4 |
Anish – men’s 25m rapid fire pistol individual |
|
|
5 |
Rhythm Sangwan – women’s 25m pistol individual |
5 |
Manu Bhaker – women’s 25m pistol individual |
|
|
6 |
Rudrankksh Patil, Paarth Makhija and Umamahesh Maddineni – men’s air
rifle team |
6 |
Shivam Dabas – men’s 50m rifle 3 positions individual |
|
|
7 |
Rudrankksh Patil – men’s 10m air rifle individual |
7 |
Abhinav Shaw – men’s 10m air rifle individual |
|
|
8 |
Shiva Narwal – men’s 10m air pistol individual |
8 |
Ramita – women’s 10m air rifle individual |
|
|
9 |
Palak – women’s 10m air pistol individual |
9 |
Manu Bhaker – women’s 10m air pistol individual |
|
|
10 |
Saurabh Chaudhary, Shiva Narwal and Sarabjot Singh – men’s air pistol
team |
10 |
Palak and Sarabjot Singh – 10m air pistol mixed team |
|
|
11 |
Esha Singh-Saurabh Chaudhary – 10m air pistol mixed team |
11 |
Ramita and Paarth Makhija – 10m air rifle mixed team |
|
|
12 |
Manu Bhaker, Palak and Esha Singh – women’s 10m air pistol team |
12 |
Sift Kaur Samra and Surya Pratap Singh – 50m Rifle Prone Mixed Team
competition |
|
|
13 |
Arya Borse, Zeena Khitta and Ramita – women’s air rifle team |
13 |
Shardul Vihaan, Arya Vansh Tyagi and Vivaan Kapoor – men’s trap team |
|
|
14 |
Sarabjot Singh – 10m air pistol men individual |
|||
|
Bronze |
15 |
Preeti Rajak, Sabeera Haris and Bhavya Tripathi – women’s trap team |
||
|
1 |
Parinaaz Dhaliwal, Darshna Rathore and Areeba Khan – women’s skeet team |
|||
|
2 |
Vijayveer Sidhu – men’s 25m rapid fire pistol individual |
|||
|
3 |
Naamya Kapoor – women’s 25m pistol individual |
|||
|
4 |
Nischal, Ashi Chouksey, Samra Sift Kaur – women’s 50m rifle 3
positions team |
|||
|
5 |
Ashi Chouksey – 50m rifle 3 positions |
BANKING AND FINANCE
1. RBI reduces
net-worth requirement for non-bank Bharat Bill Payment units: The Reserve Bank
of India (RBI) has eased norms for non-bank entities to set up Bharat Bill
Payment operating units by reducing the net-worth requirement to Rs 25 crore, with
a view to encouraging more players in the segment. At present, a net worth of
Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat
Bill Payment Operating Units). The reduction in net-worth requirements follows
an announcement regarding the same by the central bank in April. To increase
participation, the RBI had decided to align the net worth requirement of
non-bank BBPOUs with that of other nonbank participants who handle customer
funds (like payment aggregators) and have a similar risk profile.
About the Bharat Bill
Payment System (BBPS): Bharat Bill Payment System (BBPS) is
an interoperable platform for bill payments and the scope and coverage of BBPS
extend to all categories of billers who raise recurring bills. Users of BBPS
enjoy benefits like a standardised bill payment experience, a centralised
customer grievance redressal mechanism and a prescribed customer convenience
fee.
2. Fintech startup
Mahagram partners with IndusInd Bank to nurture digital payments: Rural NEO Bank
Mahagram has tied up with the IndusInd Bank to digitize the nation’s payment
ecosystem and provide a wider scope to transact for its customers in rural
India. Mahagram was launched with a vision to transform India into a digitally
empowered society and knowledge economy. The partnership between the two aims
to boost financial inclusion, encourage socio-economic development, mitigate
the risks of a shadow economy, and accelerate the growth of a cashless society.
This association will
also ensure the building of an efficient, reliable, and secure payment
ecosystem, which will not only promote and encourage the use of e-payments
methods but will also help merchants across the country to accept digital
payments easily, making it more accessible for everyone.
Note: IndusInd Bank
Founded: 1994; IndusInd Bank Headquarters: Mumbai, Maharashtra; IndusInd Bank
MD & CEO: Sumant Kathpalia; IndusInd Bank Tagline: We Make You Feel Richer.
BUSINESS AND ECONOMY
1. HDFC Securities
launched Robo-advisory platform ‘HDFC Money’: HDFC Securities has launched
“HDFC Money”, a Robo-advisory investment platform that will offer mutual fund
schemes and other financial products without the need of a Demat account. Apart
from mutual funds, one can also manage other aspects of finances such as
accessing, managing, and tracking portfolios, starting goal planning, insurance
planning, creating e-Wills and managing or filing taxes.
The objective of
‘HDFC Money’: The basic objective of investing is
to achieve a financial goal, which could be as simple as a holiday trip to a
complex retirement planning or child education/marriage.” HDFC Money, backed by
inputs from a highly experienced team, curates via Robo-advisory the best of
the best mutual funds that exist in this exhaustive market as per the declared
risk profile of the customer.
Features of ‘HDFC
Money’:
a)
These eventually help the investor in
navigating through their investment decisions. According to the company, HDFC
Money will help investors to plan and execute with a more defined objective
keeping risk and tenure in consideration.
b)
It starts with the customer identifying
and specifying his/her goal and the expected outcome over a certain time frame
with a defined risk appetite. The plan takes into consideration the mode of
investment i.e. lump sum or staggered or a combination over the period to
achieve the desired goal.
c)
The e-Will facility, which starts at Rs
1,500, will help in the creation of a Will for the distribution of wealth and
other assets.
Note: HDFC Securities
CEO: Dhiraj Relli (May 2015–); HDFC Securities Headquarters: Mumbai; HDFC
Securities Founded: 2000.
2. According to SBI
report, India’s GDP growth to be 8.2-8.5 percent in FY22: According to the
State Bank of India‘s research paper Ecowrap, India’s Gross Domestic Product
(GDP) growth in FY22 is predicted to be in the range of 8.2 to 8.5 percent.
Uncertainties abound in Q4FY22 GDP estimates, as normal quarterly data
adjustments are tough to fathom, but the research produced by SBI’s Economic
Research Department predicts that it will meet the 3 to 3.5 percent mark.
Note: SBI’s Group
Chief Economic Adviser: Soumya Kanti Ghosh
AWARDS AND HONOURS
1. Indian novel ‘Tomb
of Sand’ wins International Booker Prize: Indian writer Geetanjali Shree and
American translator Daisy Rockwell won the International Booker Prize for “Tomb
of Sand,”. Originally written in Hindi, it’s the first book in any Indian
language to win the high-profile award, which recognizes fiction from around
the world that has been translated into English. The 50,000-pound ($63,000)
prize money will be split between New Delhi-based Shree and Rockwell, who lives
in Vermont. “Tomb of Sand” is published in Britain by a small publisher Tilted
Axis Press. It was founded by translator Deborah Smith, who won the 2016
International Booker for translating Han Kang’s “The Vegetarian” to publish
books from Asia.
The essence of the
book: The book tells the story of an octogenarian widow who dares to cast
off convention and confront the ghosts of her experiences during the
subcontinent’s tumultuous 1947 partition into India and Pakistan. Shree’s book
beat five other finalists including Polish Nobel literature laureate Olga
Tokarczuk, Claudia Piñeiro of Argentina and South Korean author Bora Chung to
be awarded the prize at a ceremony in London.
2. French Riviera
Film Festival: Nawazuddin Siddiqui honoured with Excellence in Cinema award: Bollywood
actor, Nawazuddin Siddiqui has been honoured with an international award for
his contribution to cinema. At the prestigious French Riviera Film Festival,
Emmy award-winning American actor Vincent De Paul bestowed the honour to
Siddiqui. This is not the first time that Nawazuddin has brought accolades back
home. Previously, the actor was chosen as one of the delegates to receive
awards on behalf of the nation at the Cannes Film Festival.
Siddiqui’s illustrious career boasts of some terrific films, including Gangs of Wasseypur, Raman Raghav 2.0, The Lunchbox, and Munto. He is the only actor in the world to have eight films officially selected and screened at the Cannes Film Festival. Along with films, he also appeared in web series like Sacred Games and Mc Mafia.
