Daily GK Update- 2nd Mar, 2022

 

NATIONAL UPDATES:

 

1. Delhi Cabinet approved India’s first’ e-waste eco-park: The Delhi Cabinet has approved setting up India’s first of its kind electronic-waste eco-park. It has also agreed to devise ‘Delhi Film Policy 2022’, as a thrust to promote tourism. The electronic waste eco-friendly park is to be built on 20 acres of land in Delhi. Nearly, 2 lakh tonnes of e-waste are thrown by Delhi every year. This eco-park will recycle, refurbish and dismantle e-waste in a scientific and safe way.

About the eco-park:

a)      This eco-park will act as an Integrated Facility, by engaging in dismantling, segregating, refurbishing, material-wise storage, testing and plastic recycling. It will also have precious metal extraction facilities, especially from Printed Circuit Boards (PCBs) through high-end technologies.

b)      The Delhi Film Policy 2022 is to promote tourism in Delhi, making the National Capital- a Brand. It will also make it a hub for modern film-making, meeting European Standards.

c)       The government is to create an ‘e-Film Clearance Portal’ and provide aid of Rs 3 crores for film production. It has also decided to incentivize hiring locals in the cinema industry.

 

2. Cochin Airport to become power-positive with new solar plant: The Cochin International Airport Limited (CIAL) is set to commission a 12 MWp solar power plant on March 6 near Payyannur in Kannur district of Kerala. With the commissioning of the new solar power plant, CIAL will get the status as a power positive airport, from its current status of being a power-neutral airport. In 2015, CIAL became the world’s first airport to be fully powered by solar energy.

About the power plant: The power plant boasts of 12 megawatt capacity on a 35-acre land where CIAL introduced a concept of terrain-based installation where the geographical characteristics of the area are retained and no changes are made in the gradient of the land.

 

3. Mansukh Mandaviya launched the “ICMR/ DHR Policy on Biomedical Innovation: For medical professionals, scientists, and technicians in medical, dental, and paramedical institutes, the Union health ministry has launched the ICMR/ DHR Policy on Biomedical Innovation and Entrepreneurship.  By promoting the Government of India’s Make-in-India, Start-Up-India, and Atmanirbhar Bharat initiatives, it would assure multidisciplinary collaboration, promote start-up culture, and establish an innovation-led ecosystem at medical institutes across the country.”

In comparison to engineering universities, most medical colleges lack an IP and entrepreneurial policy. Only 15% of medical schools have an IP policy in place, compared to 85% of engineering schools. From 2010 to 2020, medical institutes produced only 5% of patent filings. Engineering institutes filed the majority of the data.

Implementation: Medical institutes will be able to implement IP management policies after the policy is implemented. It will make it possible for medical experts to start their own businesses. In addition, through the PPP model, it will stimulate inter-institutional and industrial collaborations. Medical schools have been requested to establish an office of licencing of innovation ventures and enterprises (OLIVEs) to encourage medical practitioners to learn about, participate in, and start their own businesses. OLIVEs will assist inventors with IP management, startup firm formation/incubation, business development, and techno-legal assistance. OLIVEs will also supply chartered accountants, company secretaries, and patent attorneys to innovator-led enterprises in exchange for 2-10% equity in incubated companies.

 

4. 28th DST-CII India- Singapore Technology Summit 2022: Confederation of Indian Industry (CII), New Delhi in partnership with the Department of Science & Technology (DST), GoI hosted the 28th edition of the DST – CII Technology Summit on 23rd and 24th of February 2022. The Summit was held virtually. Singapore is the Partner Country for this year’s Technology Summit. Technology Summit has been very crucial in providing significant opportunities to build and improve bilateral technology partnerships over a period of more than two decades. Dr Jitendra Singh, Hon’ble Union Minister of State, Ministry of Science and Technology, GoI.

Objectives Of The Summit:

a)      This Technology summit will provide the right platform to further improve the interaction; will help to explore more opportunities in the businesses and investment areas, and to upgrade the bilateral cooperation.

b)      It is expected that the summit is going to be a turning point by leading to interaction amongst a big and important group of technology experts, government leaders, elite scholars, industry stalwarts and start-ups from both countries.

c)       The focus of the summit would be making Smarter Cities, Space, Industry 4.0 and Advanced Engineering, Healthcare, Precision Medicine, etc.

Note: The chairman of the Technology Summit: Vipin Sondhi; President of CII: Thachat Vishwanaath Narendran; Director-General of CII: Chandrajit Baneerjee.

 

5. 46th Civil Accounts Day: 2nd March: The 46th Civil Accounts Day has celebrated on 2nd March 2022 at Dr Ambedkar International Centre, Janpath, New Delhi. Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman is the Chief Guest of the occasion.

Finance Minister has launched a major e-governance initiative – the Electronic Bill (e-Bill) processing system as part of ease of doing business and Digital India eco-system. A Budget 2022-23 announcement, the e- Bill system will be implemented across all Central Ministries and Departments. This will be a further step to enhance transparency, efficiency and a faceless- paperless payment system. Suppliers and contractors will now be able to submit their claims online which will be trackable in a real-time basis.

About the Indian Civil Accounts Service:

a)      Initially, the ICAS was carved out from the Indian Audit & Accounts Service (IA & AS), through the promulgation of an Ordinance amending the C & AG’s (Duties, Powers and Conditions of Service) Amendment Act, 1976.

b)      Later, the Departmentalisation of Union Accounts (Transfer of Personnel) Act, 1976 was enacted and came into force on 01 March 1976, following which the ICAS celebrates March 1 every year as the “Civil Accounts Day”.

c)       ICAS helps in the delivery of financial management services for the Government of India, such as payment services, supports the tax collection system, performs government-wide accounting, financial reporting functions, preparation of budget estimates and carries out Internal Audit in civil ministries of the Union Government.

 

INTERNATIONAL UPDATES:

 

1. Russia destroyed the largest plane in the world ‘Mriya’: Russian invasion to Ukraine, Russia destroyed the largest plane in the world called “Ukraine’s Antonov-225 cargo plane”. The plane was destroyed outside Kyiv. According to weapons manufacturer Ukroboronprom, restoring “AN-225 Mriya” would cost over USD 3 billion and could take over five years. The aircraft was unique to the world. The An-225 aircraft was located at Hostomel Airport when Russia launched an attack on the Ukrainian airport on February 24, 2022. It was destroyed on February 27.

About the plane:

a)      The aircraft was designed to airlift Energia rocket’s boosters and Buran-class orbiters for Soviet space program. It was developed to replace the Myasishchev VM-T.

b)      The original mission and objectives of An-225 are almost similar to that of the United States’ Shuttle Carrier Aircraft. The lead designer of the An-225 was Viktor Tolmachev.

c)       It was 84 meters long and could transport up to 250 tonnes of cargo at a speed of 850 kilometres per hour.

 

OTHER UPDATES:

 

SPORTS

 

1. Rafael Nadal wins Mexican Open 2022: In tennis, Rafael Nadal (Spain) beat British number one Cameron Norrie 6-4 6-4 to win the singles title of Mexican Open 2022 (also known as Acapulco title). This is the 91st ATP title of his career and the third title of the season. This is the fourth time that Rafael Nadal has won the Mexican Open title, after winning the previous ones in 2005, 2013 and 2020. Men’s double title winners are Feliciano Lopez (Spain) and Stefanos Tsitsipas (Greece).

 

2. Pooja Jatyan became 1st Indian to win a silver in Para Archery World Championships: Para-archer, Pooja Jatyan has scripted history as she became the first Indian to win a silver in an individual section of the Para World Championships in Dubai, UAE. She lost to Italy’s Patrilli Vincenza in the final to be content with the silver medal. India ended its campaign with two silver medals, a first for the country.

India has won 2 Silver medals for the first time in the Para Archery World Championship. The compound mixed pair of Shyam Sundar Swamyand Jyoti Baliyan had earlier opened India’s account by winning a silver medal.

 

BANKING AND FINANCE

 

1. Bank of Maharashtra launches “Project Banksakhi” in Odisha: Public sector lender, Bank of Maharashtra (BoM) has announced the launch of “Project Banksakhi” in Odisha in collaboration with Mahagram & Sunivesh India Finance Services Pvt. Ltd. for Online Bank Account opening. It will provide doorstep and hassle-free access to the people of Odisha for opening bank accounts. The people of Odisha using our innovative customer-friendly financial services and best in class customer experience across digital and physical touchpoints.

Bank of Maharashtra has been catering to the banking needs of customers offering a spectrum of banking products and financial services covering Retail, Agri and MSME sectors to its more than 2 crore customers. Apart from its physical delivery channels, the bank offers various digital platforms like mobile banking, internet banking, AEPS, ATM-Debit Card, 24×7 customer care centre for accessing uninterrupted banking services to its customers.

Note: Bank of Maharashtra Headquarters: Pune; Bank of Maharashtra CEO: A. S. Rajeev (2 Dec 2018–); Bank of Maharashtra Founded: 16 September 1935.

 

2. Madhabi Puri Buch named as first woman chief of SEBI: Former ICICI Banker, Madhabi Puri Buch has been appointed as the new Securities and Exchange Board of India (SEBI) chairman, replacing Ajay Tyagi. She is the first woman chief of SEBI and also the first non-IAS to head the regulatory body. She has over three decades of experience in the financial markets and was SEBI whole-time member (WTM) between April 5, 2017, and October 4, 2021. During her tenure at SEBI, she handled portfolios such as surveillance, collective investment schemes and investment management.

 

BUSINESS AND ECONOMY

 

1. NSE, BSE starts T+1 Stock Settlement from February 25: India has become the second country after China to implement the T+1 stock settlement mechanism in a phased manner from 25 February. The system will be starting with select stocks and then gradually adding others to the fold. Instruction regarding this was issued by SEBI on January 01, 2022. Before this, the settlement period of stocks in India was T+2, i.e. two days after the actual buy/selling of stock.

T means the trade/transaction day i.e. the day on which stock is brought/sold. and here T+1 means that the actual stock settlement will happen on the next day i.e +1 day. Ex: You buy a stock on Monday, you will get it in your Demat account Tuesday.

Important Info:

a)      SEBI introduced the present T+2 settlement in April 2003. Before that settlement of T+3 was followed by stock exchanges.

b)      Stock exchanges like BSE and NSE have selected, the bottom 100 stocks based on market cap that will be settled using the T+1 mechanism starting February 25.

c)       Thereafter, 500 more stocks will be added every last Friday of subsequent months, until every stock is placed under the new settlement system.

 

2. Samiran Gupta to head public policy for Twitter in India: Samiran Gupta will lead microblogging platform Twitter’s public policy and philanthropy efforts in India and South Asia. Prior to joining Twitter, Gupta was the head of stakeholder engagement in South Asia for ICANN (Internet Corporation for Assigned Names and Numbers).

Gupta was associated with The Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organisation. He served there for seven years. He was also briefly the firm’s head of stakeholder engagement for the South Asia market. The news of the appointment comes almost a year after the former Public Policy Director for India and South Asia Mahima Kaul resigned.

Note: Twitter CEO: Parag Agrawal; Twitter formed: 21 March 2006; Headquarters of Twitter: San Francisco, California, United States.

 

OBITUARIES

 

1. Legendary West Indies spinner Sonny Ramadhin passes away: West Indies spin legend, Sonny Ramadhin has passed away at the age of 92. He was a part of the side that won its first away series in England in 1950. He made his Test debut against England at Old Trafford in 1950. Ramadhin ended up playing 43 Tests and taking 158 wickets at an average of 28.98. Ramadhin played 184 first-class matches and scalped 758 wickets at an average of 20.24. He moved to England after taking retirement from the sport in the late 1960s.

Daily GK Update- 1st Mar, 2022

 

NATIONAL UPDATES:

 

1. GoI launches mission named Operation Ganga to evacuate nationals from Ukraine: The government of India has launched an evacuation mission named Operation Ganga to evacuate Indian nationals from Ukraine due to the Russia-Ukraine tension. Due to the ongoing tension between Ukraine and Russia, Ukraine has been declared as a no-fly zone by the authorities for the safety and security of the nations. Due to this many Indian nationals were left stranded in Ukraine. To help the Indian citizens come back to the country, the government of India decided to conduct a special evacuation mission named Operation Ganga. The government will bring back Indian nationals via flight.

 

2. MSME Technology Centre to be set up in Sindhudurg: Union Minister for Micro, Small & Medium Enterprises (MSME), Narayan Rane has announced the establishment of MSME-Technology Centre with an outlay of Rs. 200 Crore, in Sindhudurg, Maharashtra. The MSME-Technology Centre will provide the best of technology, incubation as well as advisory support to the industry, especially MSMEs, to enhance their competitiveness and provide skilling services for the employed and unemployed youth of the area to enhance their employability.

The Ministry is presently focussing to create a benchmark for MSMEs across the country by scaling them to new heights in terms of exports, quality of products, contribution to GDP and providing World-class infrastructure to all MSMEs in India.

 

3. Ministry of Education launches Bhasha Certificate Selfie campaign: The Ministry of Education has launched a campaign titled ‘Bhasha Certificate Selfie’. The aim of this campaign is to promote the Bhasha Sangam mobile app, launched by the Ministry under the aegis of Ek Bharat Shreshtha Bharat to encourage cultural diversity and promote multilingualism. Bhasha Sangam mobile app was launched on October 31, 2021, by Minister of Education and Skill Development Shri Dharmendra Pradhan, to lay emphasis on the promotion of Indian languages.

About the app: The app has been developed by the Ministry of Education and MyGov India and allows users to learn 100+ sentences of daily use in as many as 22 scheduled Indian languages. The ‘Bhasha Certificate Selfie’ initiative is encouraging people to upload their selfie with the certificate using the hashtag #BhashaCertificateSelfie.

 

4. Digital India CEO Abhishek Singh appoints National e-Governance Division chief: 1995-batch IAS officers and Digital India Corporation CEO, Abhishek Singh as new National e-Governance Division chief. The 1995-batch IAS officer from Nagaland cadre will hold the position in the rank and pay of Additional Secretary. The officer will proceed to carry the extra cost of the put up of Managing Director & Chief Government Officer, Digital India Company. The 1995-batch IAS officer from Nagaland cadre will maintain the place within the rank and pay of Extra Secretary.

 

5. International Women’s Day Week begins: The Women and Child Development Ministry celebrates the International Women’s Day week from the 1st of March as an Iconic Week as a part of Azadi Ka Amrit Mahotsav. As a part of the week-long celebration, the Ministry will organize various events and social media campaigns covering a variety of themes related to women’s safety and empowerment.

This will mark an occasion to celebrate the progress made towards achieving gender equity and women’s empowerment but also to critically reflect on accomplishments and strive for a greater momentum towards gender equality. It will kick off tomorrow in collaboration with the Bureau of Police Research and Development to raise awareness on the safety and security of women.

Whole week programme Schedule:

a)      The focus of the events on 2nd March will be on the role played by One Stop Centres in supporting women in distress. The Ministry will launch the Street Manoraksha Project in collaboration with NIMHANS Bengaluru. It will emphasize psychosocial well-being and aims at improving the mental health of women in India.

b)      On 3rd March 2022, the theme for the celebration is ‘Women of Tomorrow’. There will be a panel discussion on topics like Young Women in STEM – Opportunities, Challenges and Solutions followed by #NariShaktiVarta Fireside Chat on financial literacy with the Union Minister of Women and Child Development.

c)       On the 4th and 5th  of next month, a two-day National Workshop with State Commissions for Protection of Child Rights on Contemporary issues pertaining to Child Rights will be organised in Bhopal.

d)      On 7th, the Back to School Campaign will be launched focusing on supporting out-of-school girls.

e)      On 8th March, Nari Shakti Puraskaar will be given. The International Women’s Day Conference for Women Police Delegates from all States and  UTs will also be organised.

 

6. Janaushadhi Diwas Week: 1st March to 7th March: Ministry of Chemicals and Fertilizers will organize the Janaushadhi Diwas from 1st March to 7th March 2022. On 7th March 2022, the 4th Jan Aushadhi Diwas will be celebrated. The theme of 4th Janaushadhi Diwas: “Jan Aushadhi-Jan Upyogi”. The Government has set a target to increase the number of Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) to 10,500 by the end of March 2025.

The objective of Janaushadhi Week and Day: To create awareness about the usages of generic medicines and the benefits of Jan Aushadhi Pariyojana. Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) was launched by the Ministry of Chemicals & Fertilizers, Government of India in November 2008 to provide quality generic medicines available at affordable prices to all.

 

INTERNATIONAL UPDATES:

 

1. Canada approved world’s 1st plant-derived COVID-19 vaccine: Canada became the first country in the world that has authorized the use of a plant-based COVID-19 vaccine. The two-dose vaccine of Medicago Inc. (a biopharma company owned by Mitsubishi Chemical and Philip Morris), can be given to adults who are aged between 18 to 64, but little data is available on the shots received by people aged 65 and above.

The decision to authorize the vaccine was based on a study conducted on 24,000 adults that showed the efficacy rate of the vaccine is 71% at preventing COVID-19 – although the tests were conducted before the omicron variant emerged. Covifenz is the name given to this vaccine. Canada agreed to buy 20 million doses of this plant-based vaccine, with an option to purchase 56 million additional doses.

Note: Canada Capital: Ottawa; Canada Currency: Canadian dollar; Canada Prime minister: Justin Trudeau.

 

2. World Civil Defence Day: 1st March: World Civil Defence Day is annually observed across the globe on 1st March to honour the significance of Civil Defence and the personnel who have sacrificed their lives for it. The purpose of the Day is to promote public awareness about civil defence, civil protection and emergency management in order to better prepare the civilian population to protect itself in the event of an emergency and to reduce the risk of disaster. The theme of World Civil Defence Day 2022 is “Civil defence and management of displaced populations in face of disasters and crises; role of volunteers and the fight against pandemics”.

History of the day:

a)      Civil Defence Day was officially inaugurated by the International Civil Defence Organisation in 2012

b)      March 1st was chosen to commemorate the anniversary of the day on which the constitution of the International Civil Defence Organisation (ICDO) came into force.

c)       The Constitution of the ICDO was adopted on 17 October 1966, came into force on 1st March 1972. It attributes the status of the intergovernmental organizations to the ICDO (United Nations, Treaty Series, volume 985, registration No. 14376).

 

OTHER UPDATES:

 

SPORTS

 

1. Wushu Stars Championship: India’s Sadia Tariq wins Gold in Russia: Indian Wushu player Sadia Tariq has won a gold medal in the junior tournament at the Moscow Wushu Stars Championship 2022. The 15-year-old Sadia Tariq hails from Srinagar in Jammu & Kashmir. The Wushu Stars Championship is being held in Moscow, Russia from February 22 to 28. From India, 38 players, including 23 junior and 15 senior participated in the championship.

Earlier in the day, former Sports Minister and Athens Olympics medalist Rajyavardhan Rathore took to social media and laud the gold-winning effort from Sadia. Prime Minister Narendra Modi also took to social media to wish the young Wushu champion.

 

2. Singapore Weightlifting International 2022: India secures 8 medals: India concluded its campaign at the Singapore Weightlifting International 2022 with eight medals, including six golds and a silver and bronze each. Each of the eight Indian lifters who registered for Singapore International won medals and secured their spots at the Birmingham 2022 Commonwealth Games, scheduled to be held in July-August. India now has total of 12 weightlifters qualified for the Commonwealth Games 2022 in Birmingham.

Indian weightlifters qualified for Commonwealth Games 2022:

Name	Category
Mirabai Chanu	women’s 55kg
Bindyarani Devi	women’s 59kg
Popy Hazarika	women’s 64kg
Usha Kumara	women’s 87kg
Purnima Pandey	women’s +87kg
Sanket Mahadev	men’s 55kg
Chanambam Rishikanta Singh	men’s 55kg
Jeremy Lalrinnunga	men’s 67kg
Achinta Sheuli	men’s 73kg
Ajay Singh	men’s 81kg
Vikas Thakur	men’s 96kg
Ragala Venkat Rahul	men’s 96kg

 

BANKING AND FINANCE

 

1. Standard Chartered tie up with IATA for payment platform for airline industry: Global banking group Standard Chartered has partnered with the International Air Transport Association (IATA) to launch a payment platform for the airline industry in India. IATA Pay will be a new payment option that enables participating airlines to offer instant payment options such as UPI Scan and Pay and UPI Collect (Request to Pay). Standard Chartered will be supporting the rollout of IATA Pay in other markets as well. IATA Pay in India is powered by Standard Chartered’s Straight2Bank Pay, a payment platform that helps online merchants digitalise collections via multiple payment options through single global connectivity.

Note: Standard Chartered CEO: Bill Winters (10 Jun 2015–); Standard Chartered Founded: 1969, London, United Kingdom.

International Air Transport Association Headquarters: Montreal, Canada; International Air Transport Association DG: Willie Walsh; International Air Transport Association Founded: 19 April 1945, Havana, Cuba.

 

BUSINESS AND ECONOMY

 

1. Brickworks Ratings lowers India’s GDP to 8.3% in FY22: Brickworks Ratings has revised downwards India’s GDP growth forecast to 8.3 per cent in the current fiscal 2021-22 (FY22). Earlier in January 2022, the rating agency had estimated this between 8.5-9 per cent. Brickwork Ratings is one of the seven Sebi-registered credit rating agencies (CRA).

The latest growth indicators suggest a loss of economic momentum in recent months. The rapid spread of Covid in January 2022 led to renewed restrictions on economic activities, dampening the revival process, particularly in contact-intensive sectors.

 

2. Bharti Airtel to acquire 4.7% stake of Vodafone in Indus Towers: Bharti Airtel has decided to acquire an additional 4.7 per cent stake in Indus Towers from Vodafone Group, the company announced. The two companies signed an agreement on the condition that Vodafone will use the proceeds to invest in Vodafone Idea (Vi) and the latter will clear its pending dues with Indus Towers.

In addition, Airtel is also protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone on February 24. This shall be value accretive to Airtel and protect its existing significant shareholding in Indus Towers. With the acquisition, Airtel’s shareholding in Indus Towers will increase to 46.4 per cent. Vodafone holds a 28.1 per cent stake in the company at present and its shareholding will reduce to 21 per cent.

Note: Bharti Airtel CEO: Gopal Vittal; Bharti Airtel Founder: Sunil Bharti Mittal; Bharti Airtel Founded: 7 July 1995, India.

 

DEFENCE

 

1. IAF pulls out of multilateral air Exercise ‘Cobra Warrior 22’ in UK Amid Ukraine Crisis: The Indian Air Force (IAF) has decided not to send its aircraft in the multilateral air exercise ‘Cobra Warrior-22’ in the United Kingdom, due to the deepening crisis in Ukraine, arising out of the Russian military attack in that country. The exercise is scheduled to take place from March 6 to 27, 2022, at Waddington in the United Kingdom. The announcement by the IAF comes just three days after it confirmed its participation in the drills.

Why does this happen?

The announcement by the IAF came hours after India abstained from voting on a UN Security Council resolution on the Russian military aggression against Ukraine. India retained the option of reaching out to all relevant sides to find a middle ground and foster dialogue and diplomacy to resolve the crisis.

Daily GK Update- 28th Feb, 2022

 

NATIONAL UPDATES:

 

1. Giriraj Singh launches Ombudsperson App for Mahatma Gandhi NREGA: Union Minister for Rural Development and Panchayati Raj, Giriraj Singh has launched Ombudsperson App for Mahatma Gandhi NREGA. Ministry of Rural Development has developed an Ombudsperson App for smooth reporting and categorization of grievances by Ombudsperson based on complaints he received from various sources viz. physical, digital and mass media, related to the implementation of the Mahatma Gandhi NREG Scheme in the States/UTs.

About the app:

a)      The app will enable easy tracking and timely passing of awards by Ombudsperson on each case as per the guidelines. Ombudsperson can also easily upload the quarterly and annual reports on the website through the app.

b)      The app will help the ombudsperson to a greater extent in discharging her/his duty towards transparency and accountability. Also, smooth disposal of the grievances in a time-bound manner with minimal support of further human resources will be possible through the app.

 

2. Vande Bharatam’s signature tune released by Minister of State for Culture: Minister of State for Culture & External Affairs, Meenakashi Lekhi has released a signature tune for ‘Vande Bharatam’. The tune is composed by Grammy Award winner Ricky Kej and Oscar contender Bickram Ghosh. It was produced for Vande Bharatam, Nritya Utsav of Ministry of Culture presented at Rajpath, New Delhi for Republic Day event 2022. It was followed by the fascinating live performance by composers of Vande Bharatam song Ricky Kej and Bikram Ghosh.

The two musicians, Ricky kej and Bickram Ghosh shared that it is an honour for them to have given the score for Vande Bharatam which is a very rich piece of music and is based on Indian traditions but also has modern features and fusion. The Ministry of Defence handed over the special trophy to the Ministry of Culture in recognition of its exemplary efforts during the Republic day Event 2022.

 

3. India’s NIUA and WEF to collaborate on sustainable cities development programme: World Economic Forum (WEF) and the National Institute of Urban Affairs (NIUA) have signed a Memorandum of Understanding (MoU) to collaborate on a jointly designed ‘Sustainable Cities India program’. The program aims to create an enabling environment for cities to generate decarbonization solutions across the energy, transport, and built environment sectors. This initiative is particularly noteworthy as it comes after the Honorable Prime Minister Narendra Modi stated India’s commitment to turn net-zero by 2070 as a climate mitigation response at COP26. Key points:

a)      The ‘Sustainable Cities India program’ intends to enable cities to decarbonize in a systematic and sustainable way that will reduce emissions and deliver resilient and equitable urban ecosystems.

b)      The Forum and NIUA will adapt the Forum’s City Sprint process and Toolbox of Solutions for decarbonization in the context of five to seven Indian cities across two years.

c)       The City Sprint process is a series of multi-sectoral, multi-stakeholder workshops involving business, government, and civil society leaders to enable decarbonization, especially through clean electrification and circularity.

d)      The outcome of the workshop series will be a shortlist of relevant policies and business models, which not only reduce emissions but also maximize System Value, such as improved air quality or job creation.

 

4. IBM unveiled new Cybersecurity Hub in Bengaluru to address cyberattack: International Business Machines Corp. (IBM) has launched a cybersecurity hub in Bengaluru to address the concerns of its clients across the Asia Pacific (APAC) region. The multi-million dollar IBM Security Command Center will be located at the IBM office in Bengaluru in Karnataka. It is the first of its kind facility in the region. The IBM global analysis report for 2022 states that Asia emerged as the top-most targeted region for cyberattacks, representing 26% of attacks analyzed in 2021.

About the cybersecurity hub: This cybersecurity hub will deliver training in cybersecurity response techniques, to organisations of all types, through highly realistic, simulated cyberattacks, to prepare everyone, ranging from C-Suite to technical staff. The new cyber security hub is one of the only two such centres of IBM globally. The other one is located in the US.

Note: IBM CEO: Arvind Krishna; IBM Headquarters: New York, United States; IBM Founder: Charles Ranlett Flint; IBM Founded: 16 June 1911.

 

5. National Science Day: 28th February: The National Science Day is celebrated on 28 February each year in India to spread the message about the importance of science in the daily life of the people. On this day, Sir CV Raman had announced the discovery of the Raman Effect for which he was awarded the Nobel Prize in 1930. The government of India designated 28 February as National Science Day (NSD) in 1986. The National Science Day theme for 2022: ‘Integrated Approach in S&T for Sustainable Future’. The day also commemorates the discovery of the Raman Effect.

Significance of the day: National Science Day is celebrated to raise awareness on the importance of science. Educational institutions celebrate National Science Day by organising public speeches, radio, TV, science movies, science exhibitions on themes and concepts, debates, quiz competitions, lectures and science model exhibitions.

 

INTERNATIONAL UPDATES:

 

1. New Development Bank 1st multilateral agency to open office in Gift City: New Development Bank (NDB) will become the first multilateral agency to open an office in the Gujarat International Finance Tech City (Gift). New Development Bank (NDB) has received the approval for the same and will open the office in May 2022 in GIFT City. The Indian office will help identify suitable projects and try to create a pipeline of potential financing for the bank. NDB also expects to partner with the newly launched National Bank for Financing Infrastructure and Development (NBFID) to support crucial infrastructure projects in India.

About the New Development Bank: NDB was set up by the BRICS countries (Brazil, Russia, India, China, and South Africa) with the objective of mobilizing resources for infrastructure and sustainable development projects in the BRICS as well as other emerging markets in 2014. It became operational in 2015 and is headquartered in Shanghai, China. All the founding members equally own the bank.

Note: New Development Bank Headquarters Location: Shanghai, China; New Development Bank President: Marcos Prado Troyjo; New Development Bank Founder: BRICS; New Development Bank Founded: 15 July 2014.

 

2. Rare Disease Day: 28th February: The Rare Disease Day (RDD) is observed every year on the last day of February. This year in 2022 it falls on February 28, 2022. The day is observed to raise awareness for rare diseases and improve access to treatment and medical representation for individuals with rare diseases and their families. Rare Disease Day was first launched by European Organisation for Rare Diseases (EURORDIS) and its Council of National Alliances in 2008. The Rare Disease Day theme 2022: “Share Your Colors.”

History of the day: The first Rare Disease Day was coordinated by the European Organisation for Rare Diseases (EURORDIS) and held on February 29, 2008 in numerous European nations and in Canada through the Canadian Organization for Rare Disorders. The date was chosen because February 29 is a “rare day.

Note: EURORDIS Founded: 1997; EURORDIS Headquarters location: Paris, France.

 

OTHER UPDATES:

 

SPORTS

 

1. Mirabai Chanu wins gold at Singapore Weightlifting International: Indian weightlifter and 2020 Tokyo Olympics silver-medallist, Mirabai Chanu has won the gold medal in the 55kg weight category at the Singapore Weightlifting International 2022 on February 25, 2022. Chanu lifted 191kg (86kg+105kg) to stand on top of the podium.

With this win, the 27-year-old Chanu has qualified for the 2022 Commonwealth Games (CWG) in Birmingham in the 55kg weight category. She has also qualified for the CWG in the 49kg weight category on the basis of her Commonwealth rankings.

 

BANKING AND FINANCE

 

1. Union Bank launches ‘Union MSMERuPay Credit Card’: The Union Bank of India has launched the ‘Union MSME RuPay Credit Card’ in association with the National Payments Corporation of India (NPCI). It is a first of its kind initiative in the industry, to provide simplified and digital delivery of Finance to Micro, Small & Medium Enterprises (MSMEs), to meet their business-related operational expenses.

The dedicated card for MSMEs will be available to eligible borrowers of the Union Bank of India. The Union MSME RuPay Credit Card was launched by Union Minister for Micro, Small & Medium Enterprises, Shri Narayan Rane on February 25, 2022, at the two days MSME Conclave being held in Sindhudurg district of Maharashtra.

Note: Union Bank of India Headquarters: Mumbai; Union Bank of India CEO: Rajkiran Rai G.; Union Bank of India Founded: 11 November 1919, Mumbai.

 

BUSINESS AND ECONOMY

 

1. Moody’s revised India’s growth estimates to 9.5% in CY2022: Moody’s has revised India’s economic growth estimates in the Current Year 2022 upwards to 9.5 per cent from 7 per cent on stronger than expected recovery after a lockdown in 2020 and Covid-19’s Delta wave in 2021. It maintained a forecast for 5.5 per cent growth in CY2023. In its update on Global Macro Outlook 2022-23 today, Moody’s said sales tax collection, retail activity and Purchasing Managers Index suggest solid momentum. However, high oil prices and supply distortions remain a drag on growth for India.

 

2. HUL named Nitin Paranjpe as non-executive Chairman: Hindustan Unilever Ltd (HUL) has announced the separation of the position of Chairman of the Board and the CEO & Managing Director of the company. Nitin Paranjpe has been appointed as the Non-Executive Chairman of the company with effect from March 31, 2022. He is currently serving as Chief Operating Officer of Unilever, the parent company of HUL. Sanjiv Mehta will continue to be the Chief Executive Officer & Managing Director (CEO & MD) of the company. The Board accepted the recommendation made by the NRC and has appointed Paranjpe as a Non-Executive Chairman. The appointment is subject to approval of the shareholders which the Company will seek as per applicable regulations.

Note: Hindustan Unilever Ltd Headquarters: Mumbai; Hindustan Unilever Ltd Founded: 17 October 1933.

 

DEFENCE

 

1. Third India-Japan joint exercise ‘EX DHARMA GUARDIAN-2022’: The third edition of the joint military exercise “EX DHARMA GUARDIAN-2022” between India and Japan will be conducted from 27 February to 10 March 2022, at Belagavi (Belgaum), Karnataka. The 15th Battalion the Maratha Light Infantry Regiment of the Indian Army and 30th Infantry Regiment of Japanese Ground Self Defence Forces (JGSDF) are participating in this 12 days long joint exercise. About the exercise:

a)      The military exercise will focus on operations in Jungle & Semi-Urban/Urban terrains.

b)      The exercise aims at enhancing the inter-operability and foster mutual understanding between the two Armies.

c)       Exercise DHARMA GUARDIAN is an annual military training event, being conducted in India since 2018.

 

OBITUARIES

 

1. Odisha’s first tribal CM Hemananda Biswal passes away: Odisha’s first tribal chief minister as well as last Congress chief minister of the state, Hemananda Biswal passed away. He was 82. Biswal, a Bhuyan tribal from Jharsuguda district, served as the chief minister twice from 1989 to 1990 and 1999 to 2000. In December 1999, he was again made chief minister after erstwhile chief minister Giridhari Gamang was replaced over his failure in relief and rehabilitation measures in the aftermath of the 1999 super cyclone that ripped through the Odisha coast.

Biswal began his political journey as a chairman of Kirimira panchayat Samiti in the Jharsuguda district. He was elected to the Odisha assembly for the first time in 1974 from Laikera constituency. He was elected to the assembly as MLA six times from the same seat. In 2009 he was elected as an MP from Sundargarh.