Daily GK Update- 28th July, 2022

NATIONAL UPDATES:

 

1. Union Cabinet adopts a $1.6 billion BSNL revitalization plan: Shri Ashwini Vaishnaw, the Union Minister of Railways, Communications, Electronics and Information Technology, said that the Union Cabinet approved the Rs. 1.64 lakh crore revival package for Bharat Sanchar Nigam Limited (BSNL). Package announced by the government in 2019 has contributed to stabilising BSNL’s financial situation.  Key Points:

a)      Revenue that was declining has stabilised at Rs 19,000 crore thanks to a resuscitation package that the union cabinet authorised.

b)      The proposed package includes three components: (1) Better services; (2) A de-stressed balance sheet and (3) Fibre network development.

c)       The cabinet has accepted a proposal to convert Rs 33,000 crore in statutory dues into equity as part of the de-stressing of the balance sheet, and an equal amount of bank loans will be repaid through the issuance of low-interest bonds.

d)      A plan to combine BSNL and Bharat Broadband Network Limited (BBNL) was also approved by the federal cabinet.

e)      Through this merger, BSNL would have access to 5.67 lakh kilometres of extra optical fibre that have been installed throughout 1.85 lakh village panchayats nationwide with the help of the country’s Universal Service Obligation Fund (USOF).

f)        BSNL now operates an optical fibre cable network that spans more than 6.83 lakh kilometres.

 

2. Haryana CM Manohar Lal Khattar launched ‘Smart E-Beat’ system for Gurugram police: Haryana Chief Minister, Manohar Lal Khattar has launched an app-based ‘Smart E-Beat’ system for police attendance and real-time monitoring of patrolling by personnel in Gurugram. CM Khattar launched the system at an event at the office of the Commissioner of Police and flagged off 119 motorcycle police riders connected with it. The app-based system has been introduced in Gurugram under the Smart Policing Initiative (SPI) and it will help these policemen to mark their attendance and in the monitoring of their rides.

About the Smart E-Beat system: The Smart E-Beat system would cover the area of all the 33 police stations located in the urban area of Gurugram. As many as 119 motorcycle riders will be deployed, and 714 policemen will give duty on the rider in three shifts a day, Gurugram Police has identified 2,056 sensitive locations in the city, which mainly include ATMs, petrol pumps, residences of senior citizens, schools, colleges, religious places, and crime-affected areas for monitoring.

Note: Haryana Governor: Bandaru Dattatreya; Haryana Capital: Chandigarh; Haryana Chief Minister: Manohar Lal Khattar.

 

3. To Establish Center of Excellence for MSME, NSIC and LG Electronics sign an agreement: In the presence of Shri Narayan Rane, Honorable Cabinet Minister, Shri Bhanu Pratap Singh Verma, Honorable Minister of State, Shri B. B. Swain, Secretary MSME, Shri P. Udayakumar, CMD, NSIC, and Shailesh Kumar Singh, AS&DC, National Small Industries Corporation (NSIC) signed an agreement with LG Electronics India Pvt Ltd. and the Electronics Sector Skills Council of India (ESSCI).

Key Points: The goal of this project is to train underprivileged youth in the fields of consumer electronics and appliances. LG Electronics and the Electronics Sector Skills Council of India (ESSCI) will establish a “Centre of Excellence” at NSIC – Technical Services Center. This will give young people new opportunities in the field of electronics and produce skilled labour for jobs in this industry. 600 youths would be served each year in the first year.

About NSIC Role: Along with the sector skills council, the NSIC will assist graduates in finding employment at job fairs, and LG Electronics will give them preference for positions over graduates of the NSIC’s Technical Services Center (Okhla) programme. The NSIC Technical Services Center, Okhla, has taken the lead in educating young people through entrepreneurship-based training programmes and numerous skill-based training courses. The training programmes offered are market- and industry-focused.

 

4. In Bhopal, Delhi Airport, Kandla Port, and Bengaluru Metro, TRAI testing 5G: 5G spectrum auctions are currently taking place in India. The Telecom Regulatory Authority of India (TRAI) has stated that it has begun pilot testing the 5G network at selected areas around the nation in advance of the spectrum auction. TRAI has been testing the 5G network at four different sites around the nation. These places are Namma Metro in Bengaluru, Namma Port Kandla near Kutch in Gujarat, Bhopal Smart City, GMR International Airport in New Delhi, and Bhopal Smart City. Key Points:

a)      These 5G readiness tests were carried out by BSNL, Vodafone Idea, Reliance Jio, and Bharti Airtel.

b)      Bhopal, pilot testing was done at eleven different places. As a result, Bhopal is the first smart city in India to test the functionality of street furniture such as traffic signal poles, street light poles, smart poles, billboards, direction boards, road signage, foot over bridges, and city bus shelters on 5G networks.

c)       The Deendayal Port in Kandla near Kutch and GMR International Airport in New Delhi have now been designated as the nation’s first port and airport, respectively, to test 5G readiness.

d)      Bengaluru’s Namma Metro has become the nation’s first metro rail system to test 5G readiness. The MG Road Metro station in Nama Metro Bengaluru was chosen as the primary station to focus on 5G coverage at street level, in its concourse area, platform, and tracks on both sides.

 

INTERNATIONAL UPDATES:

 

1. Russia decides to leave the International Space Station after 2024: President Vladimir Putin was informed by the newly appointed head of Moscow’s space agency that Russia has made the decision to leave the International Space Station after 2024. The declaration comes amid heightened hostilities between Moscow and the West over Moscow’s military action in Ukraine and several rounds of previously unheard-of sanctions against Russia.

The International Space Station (ISS), which has been in orbit since 1998, has been jointly developed by Russia and the United States. One of the few areas where cooperation between Russia, the United States, and its allies had not been ruined by tensions over Ukraine and other issues up until now was space exploration. One of the Soviet space program’s major achievements and a significant source of national pride in Russia is the launch of the first satellite in 1957 and the sending of the first man into space in 1961.

Note: Roscosmos Chief: Yury Borisov

 

2. World Nature Conservation Day: 28th July: World Nature Conservation Day is observed on July 28 every year. The objective is to spread awareness regarding the preservation of nature and biodiversity for a healthy environment which is required for stable and prospering humankind. It is also marked as the day to create positive opinions about climate change. World Nature Conservation Day acknowledges that a healthy environment is a foundation for a stable and healthy society. This year World Nature Conservation Day will be celebrated under the theme “Cut Down on Plastic.”

 

3. World Hepatitis Day: 28th July: World Hepatitis Day is observed each year on 28 July to raise awareness of viral hepatitis, which causes inflammation of the liver that leads to severe disease and liver cancer. This day is an opportunity to step up national and international efforts on hepatitis, encourage actions and engagement by individuals, partners and the public and highlight the need for a greater global response as outlined in the WHO’s Global hepatitis report of 2017. The theme for world hepatitis day 2022 is ‘Bringing hepatitis care closer to you.’ The main theme is to focus on raising awareness of the need to make hepatitis care more accessible.

World Hepatitis Day History: The World Health Organisation launched a campaign to make the world free of hepatitis. The World Hepatitis Alliance was founded in the year 2007 and the first community-organized World Hepatitis Day was observed in 2008. The date of 28 July was chosen because it is the birthday of Nobel-prize-winning scientist Dr Baruch Blumberg. It was in the year 1967 that Baruch Samuel Blumberg discovered the Hepatitis B virus.

 

OTHER UPDATES:

 

SPORTS

 

1. AR Rahman unveils anthem ‘Vanakkam Chennai’ for 44th International Chess Olympiad: Grammy and Oscar-winning music composer, AR Rahman has come up with the ‘Vanakkam Chennai’ (Welcome Anthem) for the upcoming International Chess Olympiad, 2022. Directed by Vignesh Shivan, the music video features chief minister MK Stalin, grandmaster Vishwanathan Anand, and music maestro AR Rahman, who has composed and sung the theme song. The music video also features director Shankar’s daughter as a Bharatanatyam artiste. The terrific music video has been praised by netizens for showing the culture of Tamil Nadu impressively.

About the 44th International Chess Olympiad:

a)      This year, the Fédération Internationale des Échecs will organise the 44th International Chess Olympiad in Chennai, the capital of Tamil Nadu.

b)      The 44th International Chess Olympiad, the world’s biggest chess event, will be held at Poonjeri Village in Mamallapuram from July 28 to August 10. The venue is a UNESCO heritage site, located about 50 kilometres from Chennai, Tamil Nadu.

c)       The prestigious chess tournament has generated tremendous buzz on social media. The hype around the event is growing with each update on social media.

 

2. India will host ICC Women’s ODI World Cup 2025: International Cricket Council (ICC) has confirmed that India will host the ICC Women’s ODI World Cup 2025. BCCI will leave no stone unturned to make it a memorable event for everyone concerned. The infrastructure is in place and will have a very successful edition of the World Cup. The hosts were selected via a competitive bidding process overseen by a Board sub-committee chaired by Martin Snedden along with Clare Connor, Sourav Ganguly and Ricky Skerritt. The ICC Board accepted the recommendations of the committee who conducted a thorough review of each bid along with ICC management. India, Bangladesh, England and Sri Lanka were named as the four hosts for ICC women’s white-ball events from 2024-27.

Other ICC Women’s tournaments hosts:

a)      Bangladesh will host the 2024 Women’s T20 World Cup, while the 2026 edition will be held in England.

b)      Sri Lanka has secured hosting rights for the Women’s T20 Champions Trophy, slated for 2027, provided it qualifies for the event.

 

BANKING AND FINANCE

 

1. HDFC Bank to be among global top 10 banks after merger: According to Times of India report, HDFC Bank will be among the world’s top 10 most valuable banks after its merger with the parent, mortgage lender Housing Development Finance Corporation (HDFC), at the current valuations and will also be the first Indian bank to make it to the Top 10 club. The combined market cap of HDFC Bank and HDFC would be around USD 160 billion. Key Points:

a)      HDFC Bank is worth more than DBS Group and UBS (both valued at around $58 billion). The country’s largest lender State Bank of India ($57 billion) is at number 32 ahead of BNP Paribas ($55 billion) in terms of valuation.

b)      HDFC Bank is a systemically important bank in India along with SBI and ICICI Bank.

c)       Recently in April, RBI approved HDFC Bank’s proposed merger with parent and mortgage lender Housing Development Finance Corp Ltd (HDFC).

Note: HDFC Bank Ltd MD & CEO: Sashidhar Jagdishan; HDFC Bank Ltd Establishment: 1994; HDFC Bank Ltd Headquarters: Mumbai, Maharashtra; HDFC Bank Ltd Tagline: We Understand Your World.

 

BUSINESS AND ECONOMY

 

1. IMF cuts Indian economic growth forecast by 80 bps to 7.4%: The International Monetary Fund (IMF) has slashed India’s growth forecast for 2022-23 (FY23) by 80 basis points to 7.4 per cent from 8.2%, citing less favourable external conditions and rapid policy tightening by the central bank. However, despite the growth downgrade, India will remain one of the fastest growing major economies in the world in 2022-23 and 2023-24. Only Saudi Arabia, estimated to grow 7.6% in 2022, is expected to outpace India. However, growth in the Kingdom is expected to slow to 3.7% in the following year. The Global prospect:

a)      In comparison, China’s growth is estimated to slow to 3.3% in 2022 from 4.4% estimated earlier by IMF.

b)      Other emerging markets and developing economies, including Russia, South Africa, and Brazil, saw an upward revision in their economic forecasts on improved outlook. The IMF also cut the global growth outlook and warned that the world may soon be on the brink of a recession.

c)       Global economic expansion will likely slow to 3.2% this year, slower than the 3.6% forecast by the fund in April.

Note: IMF Formation: 27 December 1945; IMF Headquarters: Washington, D.C., United States; IMF Member Countries: 190; IMF MD: Kristalina Georgieva.

 

2. Nokia awards Wipro a five-year contract for digital transformation: Wipro Ltd., a company with its headquarters in Bengaluru, announced the signing of a new, five-year contract for digital transformation with Nokia of Finland. The new contract expands on a connection that was first formed more than 20 years ago. Wipro will provide business services in support of Nokia‘s updated operating model, putting a special emphasis on process optimization, touchless processing, and improved user and customer experience across order management, supply chain, finance, and accounting operations.

Note: Wipro Founder: H. Hasham Premji; Wipro CEO: Thierry Delaporte; Wipro Chairman: Azim Premji

Nokia Founder: Fredrik Idestam, Eduard Polón and Leo Mechelin; Nokia Chairman: Sari Baldauf; Nokia Headquarter: Espoo, Finland

 

AWARDS AND HONOURS

 

1. Professor Kaushik Rajashekara won Global Energy Prize 2022: Indian-origin professor of engineering at the University of Houston, Kaushik Rajashekara has won the prestigious Global Energy Prize. Rajashekara was given the award in the New Ways of Energy Applications category for his contributions to transportation electrification and energy efficiency technologies while reducing power generation emissions. The awarding ceremony will be held during Russian Energy Week in Moscow on October 12-14.

Only three people in the world were selected this year for the honour, bestowed by the Global Energy Association, out of a record 119 nominations from 43 countries. Rajashekara is joined as a 2022 laureate by Viktor Orlov, chief specialist of the Centre for Innovative Technologies (Rosatom in Russia) and pioneer in thermonuclear physics; and Mercouri Kanatzidis, professor of chemistry and materials science at Northwestern University and senior researcher at the Argonne National Laboratory.

 

DEFENCE

 

1. Indian Army received locally developed QRFV from Tata Advanced Systems: Tata Advanced Systems successfully delivered the locally developed Quick Reaction Fighting Vehicle to the Indian Army. The contract to provide QRFV-Med vehicles to the Indian Army was successfully completed. These armoured vehicles will increase the nation’s protector’s ability to fight in all weather and terrain situations and will offer protection while moving. Key Points:

a)      These vehicles will improve the Indian Army’s operational capability during future battles.

b)      In the last four years, from 2018–19 to 2021–22, the expenditure on defence procurement from foreign sources decreased from 46% of the total expenditure to 36% as a result of the steps implemented by the Centre to promote the manufacture of indigenous defence equipment.

c)       The initial group of QRFV was inducted by former Chief of Army Staff General MM Naravane.

d)      The QRFV, Infantry Protected Mobility Vehicle (IPMV), Ultra Long Range Observation System, Monocoque Hull Multi-Role Mine-Protected Armoured Vehicle, and Ultra Long Range Observation System were all introduced by the Army Chief.

Note: Chief of Army Staff: General Manoj Pande; Defence Minister of India: Rajnath Singh

Daily GK Update- 27th July, 2022

 

NATIONAL UPDATES:

 

1. GoI Designates 5 New Ramsar Sites, taking total number to 54: Five new wetlands of International importance have been designated in India. With this, the total number of Ramsar sites in the country have been increased from 49 to 54 Ramsar sites.

The five newly designated wetlands are:

a)      Karikili Bird Sanctuary, Tamil Nadu

b)      Pallikaranai Marsh Reserve Forest, Tamil Nadu

c)       Pichavaram Mangrove, Tamil Nadu

d)      Pala wetland, Mizoram

e)      Sakhya Sagar, Madhya Pradesh.

Ramsar Site: A Ramsar Site is a wetland site designated to be of international importance under the Ramsar Convention. The name Ramsar comes from the Ramsar City of Iran, where this treaty was signed. The Convention on Wetlands is also known as the Ramsar Convention. It is an intergovernmental environmental treaty established in 1971 by UNESCO and came into force in 1975. Wetlands declared as Ramsar sites are protected under strict guidelines of the convention.

 

2. IIT Kanpur launched NIRMAN Accelerator Program: Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur has launched “NIRMAN” Accelerator Programme, supported by the department of science and technology, the government of India. The programme will focus on the manufacturing startups engaged in healthcare and agriculture domains to help them overcome the challenges from their prototype-to-market journey.

A total of 15 startups will be selected under the programme. They will be given the opportunity to accelerate their product’s journey from lab to market. The best performing startups among the cohort of 15 startups will receive a cash award of up to ₹10 Lakh.

About the programme: The 6-month-long programme will be devised into four segments: principles of product growth, engineering acceleration, navigating the compliance puzzle and leading to next-stage growth. The programme will offer knowledge workshops, one-on-one mentoring support, diving deep into customised support for clinical validation, and business and investor connections. The programme has started accepting applications and it will be on till August 5.

 

3. Prime Minister to lay the cornerstone for the IFSCA’s Gujarat headquarters: Gujarat’s IFSCA (International Financial Services Centres Authority) Headquarters Building will officially break ground thanks to Prime Minister Narendra Modi. IFSCA is the centralised regulatory body in India’s international financial services centres for the creation and supervision of financial products, financial services, and financial institutions.

As a symbol of the expanding importance and stature of Gujarat International Finance Tec, GIFT as a preeminent international financial centre, the IFSCA headquarters building was designed as an iconic landmark. The Prime Minister will open India’s first international bullion exchange in GIFT-IFSC, the India International Bullion Exchange.

Importance of IFSCA:

a)      To accelerate the financialization of gold in India, this will enable effective price discovery with the certainty of ethical sourcing and quality.

b)      This will enable India to reclaim its proper position in the world bullion market and provide trustworthy and high-quality services to the global value chain.

c)       This will also reaffirm the federal government’s commitment to allowing India, as a major consumer, to have a say in the direction of world bullion prices.

 

4. Kerala will start taking steps to ensure every citizen fully digitally literate: Kerala government has made the decision to start initiatives to promote full digital literacy in the State. Chief Minister Pinarayi Vijayan while addressing a school programme in Thiruvananthapuram explained that the campaign aims to educate people, particularly youngsters, about the dangers and traps online. The post-Covid era, smartphones had become an integral part of everyone’s everyday lives and an important instrument for online learning. Children cannot be kept out of the digital world forever, but the Chief Minister advised raising awareness to protect their safety and security.

Note: Kerala Chief Minister: Pinarayi Vijayan; Kerala Capital: Thiruvananthapuram

 

5. Jammu Film Festival to begin from September 3: The second edition of the Jammu film festival will be held here from the 3rd of September with films from 54 countries slated to be screened over two days of the event. The first-ever international film festival here was held in September 2019 in Jammu, the winter capital of the Union Territory. The event was in the cold shelf for the last two years due to the COVID pandemic. Key Points:

a)      54 projects from 15 countries including feature films, documentaries, and shorts will be screened during the event.

b)      The panel of judges includes prominent actor Lalit Parimoo, Geetiyan fame director Raahul Sharma, Iranian filmmaker Alimohammad Eghbaldar, producer Kapil Mattoo, and storyboard writer and critic Amit Singh. The panel is headed by Sangeet Natak-awardee and well-known actor-director Mushtaq Kak.

 

INTERNATIONAL UPDATES:

 

1. India provides UNRWA with donation of USD 2.5 million for Palestinian refugees: India gave the United Nations Relief and Works Agency for Palestine Refugees in the Near East USD 2.5 million. In a signing ceremony at UNRWA headquarters in East Jerusalem, Sunil Kumar, director of the West Asia and North Africa Division of the Indian Ministry of External Affairs, handed Karim Amer, director of partnerships for the Department of External Relations, a check for USD 2.5 million. Key Points:

a)      Karim Amer expressed his appreciation for India’s ongoing efforts on behalf of the Palestinian refugees.

b)      Harish Kumar, the Ministry of External Affairs’ Under-Secretary for West Asia and North Africa, was also present at the ceremony.

c)       India has been a committed supporter of UNRWA since 2018, contributing USD 20 million to help fund the organization’s essential programmes for Palestinian refugees throughout the Middle East.

d)      The UNRWA, which was founded in 1949 as a humanitarian organisation, is entirely supported by donations and grants from donor nations.

e)      About 5.6 million Palestinian refugees who were registered in the West Bank, Gaza Strip, and refugee camps in Lebanon, Syria, and Jordan were to receive support and safety from the agency.

f)        Education, health care, assistance, infrastructure, camp rehabilitation, protection, and microfinance are among the services provided by UNRWA to Palestinian refugees.

g)      The UNRWA stated in January that it will require 1.6 billion US dollars from the international community in 2022 to cover costs, deliver services, and carry out projects for the humanitarian development of Palestinian refugees.

 

2. Wasifa Nazreen: First Bangladeshi to climb K2, second-highest peak in the world: Mountaineer Wasifa Nazreen became the first person from Bangladesh to ascend Pakistan’s administered K2, the second-highest mountain peak. She scaled the K2 mountain peak, which is 8611 metres (28,251 ft) high, and then descended to the base camp. Key Points:

a)      The 39-year-old mountaineer Wasifa paid respect to all the known and unidentified martyrs of Bangladesh, from the language campaign to the liberation war, after completing this historic job.

b)      Wasifa greeted Bangladesh on its 50th anniversary and thanked everyone who had assisted her from the top of the world’s most treacherous mountain, stating, “Happy 50th Bangladesh, here’s to the next great 50.”

c)       Wasifa earlier wrote on her Facebook page as she was climbing to the top of K2 that when the time comes for her to exit the world, please rejoice in knowing she lived or aspired to live, her life is free from society and other people’s judgement.

d)      In 2012, Wasifa Nazreen scaled Mount Everest. She was the second Bangladeshi woman to accomplish so.

Note: Bangladesh’s Capital: Dhaka; Bangladesh’s Prime Minister: Sheikh Hasina Wazed

 

OTHER UPDATES:

 

SPORTS

 

1. BCCI introduced a new A+ category for umpires: The Board of Control for Cricket in India (BCCI) has introduced a new A+ category for its umpires and Nitin Menon, along with ten other officials, have been grouped in the category. Umpires in A+ and A categories are paid Rs 40,000 a day for a first-class game while Rs 30,000 a day are paid in the B and C category.

Key Points:

a)      The others in the A+ category include four international umpires: Anil Chaudhary, Madangopal Jayaraman, Virender Kumar Sharma and K N Ananthapadmabhanan.

b)      Rohan Pandit, Nikhil Patwardhan, Sadashiv Iyer, Ulhas Gandhe and Navdeep Singh Sidhu are also part of the A+ category.

c)       Twenty umpires including C Shamshuddin form the A group, 60 are in Group B, 46 in Group C and 11 in Group D which falls in the 60-65 age bracket.

Note: BCCI President: Sourav Ganguly; BCCI secretary: Jay Shah; BCCI Headquarters: Mumbai; BCCI Founded: December 1928.

 

2. SAI starts “Create for India” campaign to cheer for Team India in Birmingham: The Sports Authority of India (SAI) has started a new initiative to cheer for Team India, under which SAI has launched the campaign “Create for India” to cheer Indian contingents participating in the Birmingham 2022 Commonwealth Games. A 215-member Indian athlete contingent is set to participate across 16 disciplines in this sports event, which is scheduled to take place from July 28, 2022, to August 08, 2022. The motto of the CWG 2022 is “Games for Everyone.”

About the Sports Authority of India: The Sports Authority of India is the apex national sports body of India, established in 1982 by the Ministry of Youth Affairs and Sports of the Government of India for the development of sports in India.

 

BANKING AND FINANCE

 

1. RBI approves Piramal Enterprises’ establishment of NBFC: The Reserve Bank of India (RBI) has given the organisation permission to begin conducting business as an NBFC to Piramal Enterprises. The licence is required to start an NBFC that does not accept public deposits. RBI has granted the company a certificate of registration allowing it to start operating as a non-banking financial institution without taking deposits from the general public.

The company gained agreement from the shareholders to demerge its pharmaceuticals division and streamline its corporate structure, the RBI granted its approval. The company paid Rs 34,250 crore to buy Dewan Housing Finance (DHFL). The company had previously stated that the acquisition will increase the retail loan book by up to five times, hence diversifying Piramal Enterprises’ loan book towards retail financing.

Note: RBI Governor: Shaktikanta Das; Piramal Enterprises Founder: Ajay Piramal; Piramal Enterprises CEO: Peter DeYoung

 

BUSINESS AND ECONOMY

 

1. India’s Indermit Gill named as World Bank’s Chief Economist: The international financial institution, World Bank has appointed Indermit Gill, as its chief economist and senior vice-president for development economics at the multilateral development bank. His appointment will be effective September 1, 2022. Gill will be only the second Indian to serve as chief economist at the World Bank. Kaushik Basu was the first, having served in the job from 2012-2016.

 

2. Nakul Jain Joins As CEO Of Paytm Payments Services: Paytm’s parent One97 Communications has appointed Nakul Jain as the CEO of Paytm Payments Services Ltd (PPSL). Praveen Sharma, who is now serving as the acting CEO of PPSL, has been promoted to oversee the organisation’s commerce vertical in addition to his other duties.

Note: MD and CEO of Paytm: Vijay Shekhar Sharma; Paytm Founded: August 2010; Paytm Headquarters: Noida, Uttar Pradesh, India.

 

DEFENCE

 

1. India-Japan conducted a Maritime Partnership exercise (MPX) in the Andaman Sea: A Maritime Partnership Exercise (MPX) was conducted between Japan Maritime Self Defense Force and Indian Navy in the Andaman Sea. INS Sukanya, an offshore patrol vessel and JS Samidare, a Murasame class destroyer, undertook various exercises including seamanship activities, aircraft operations and tactical manoeuvres as part of the operational interaction.

Aim of the exercises: The two countries have been carrying out regular exercises in the Indian Ocean Region (IOR) aimed towards reinforcing maritime association. The exercises conducted were aimed at enhancing interoperability and streamlining seamanship and communication procedures. This exercise is part of the ongoing efforts between the two navies toward ensuring safe and secure international shipping and trade in the IOR.

 

2. Rajnath Singh announces the formation of combined tri-service theatre commands: Rajnath Singh, Minister of defence, to improve coordination between the armed forces, announced the creation of unified theatre commands of three services. India is fast transitioning from being the world’s top importer of defence equipment to an exporter. The defence minister was addressing at a ceremony held by the Jammu & Kashmir People’s Forum in this city to honour the Indian Armed Forces martyrs. The defence minister paid tribute to the Kargil martyrs and stated that the nation could never forget the ultimate sacrifice they made in order to preserve the nation’s sovereignty and territorial integrity.

Note: Defence Minister of India: Rajnath Singh; Chief of Army Staff: General Manoj Pande.

 

 

Daily GK Update- 26th July, 2022

NATIONAL UPDATES:

 

1. Center modifies Flag Code of India 2002 to permit tricolour to be displayed constantly: If the national flag is flown in the open and is raised by a member of the public, it may now fly through the night. The Flag Code of India 2002 was revised by the Ministry of Home Affairs to permit the flying of the national flag even at night as the federal government begins its Har Ghar Tiranga campaign. The flag could previously only be flown between sunrise and dusk.

Key Points:

a)      The ministry stated that clause XI of paragraph 2.2 of the Flag Code has been substituted by the following phrase: “where the flag is displayed in the open or displayed on the house of a member of the public, it may be flown day and night.”

b)      The flag code has already been altered by the government to permit the use of polyester and machine-made flags.

c)       The government amended paragraph 1.2 of Part I of the flag code in a notification last year.

d)      Flags produced by machines or of polyester were previously prohibited from use.

e)      India is celebrating Azadi Ka Amrit Mahotsav to mark 75 years of independence.

f)        From August 13 to August 15, the Har Ghar Tiranga campaign urges people to fly the flag in their residences.

g)      Additionally, in a letter to all government agencies on the campaign, Home Secretary Ajay Bhalla included files that outlined the key elements of the flag code as well as the updates made on December 30, 2021, and July 20, 2022.

 

2. MP’s Burhanpur becomes the first district to certify ‘Har Ghar Jal’: Burhanpur district of Madhya Pradesh, popularly known as the ‘Darwaza of Dakhin’, became the first Certified ‘Har Ghar Jal’ district in the Country. Only district in the country, people from each of 254 villages in Burhanpur have declared their villages as ‘Har Ghar Jal’ through a resolution passed by Gram Sabhas. Accordingly, it certifies that all people in the villages have access to safe drinking water through taps, ensuring that ‘No One is Left Out’.

Certificate is given to the Burhanpur district: When Jal Jeevan Mission was launched on August 15, 2019, only 37,241 rural households (36.54%) out of a total of 1,01,905 households in Burhanpur had potable drinking water through tap connections. Now, within a span of 34 months, all the 1,01,905 rural households have access to potable drinking water through tap connections. The certificate confirms that every household is getting a regular supply of water of prescribed quality. Furthermore, it is also an indication of no leakages from the distribution pipeline in the village, and that all the roads dug up to lay the water pipeline was restored upon completion of the water supply works.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor of Madhya Pradesh: Mangubhai C. Patel.

 

3. Large statue of Chandrashekhar Azad to be erected in Bhopal: In Bhopal, a large statue honouring Amar Shaheed Chandrashekhar Azad will be erected. The statue site will be created as a source of inspiration for young people, with soil from Azad’s hometown of Bhabra being used at its base. On the 116th anniversary of Amar Shaheed Chandrashekhar Azad’s birth, Chief Minister Shivraj Singh Chouhan spoke at the opening ceremony of the first state-level Youth Mahapanchayat, which was held in Bhopal.

According to the Chief Minister, the state would offer a total of one lakh government jobs per year, and the hiring process would begin on August 15. Additionally, every month, 2 lakh young people would be involved in self-employment. A new youth policy, which would take into account the recommendations of the state’s youth, was announced and would go into effect on January 12, the anniversary of Swami Vivekananda’s birth.

 

4. A book titled “Dilip Kumar: In the Shadow of a Legend” by Faisal Farooqui: A new book on the legendary actor of Indian cinema, Yusuf Khan, better known as Dilip Kumar, has been released by author Faisal Farooqui. The book is titled “In the Shadow of a Legend: Dilip Kumar”. The book is a tribute to Dilip Kumar the man more than Dilip Kumar the actor. Farooqui is the founder and CEO of Mouthshut.com, one of India’s leading review and rating platforms.

The essence of the book: In the book, Dilip Kumar: In the Shadow of a Legend, the author paints an intimate portrait of the actor, throwing light on some little-known anecdotes from his illustrious life. The book brings to us the real Dilip Kumar, away from the large screen that made him such an endearing figure for his fans. Dilip Kumar was much more than the actor that we have revered all these years.

 

5. Kargil Vijay Diwas: 26th July: Kargil Vijay Diwas is the celebration of India’s historic win over Pakistan on July 26, 1999. The Indian Army successfully removed Pakistani forces who were illegally occupying a hilltop at the Indian side of the Line of Control (LoC) at Kargil, Ladakh. To commemorate this victory and remember those who sacrificed their lives for this country, Kargil Vijay Diwas is celebrated annually in India on July 26. History of Kargil War:

a)      The Kargil War was fought between May-July of 1999 in the Kargil district of Jammu and Kashmir along the Line of Control (LoC) in which India got victory. The Kargil war was fought for more than 60 days and ended on 26 July.

b)      On this date in 1999 Pakistan army took advantage of the melting snow and betraying the bilateral understanding of both the nations (that the post would remain unattended during the winter season) took command of the high outposts of India.

c)       Pakistan army refused the claims that its soldiers were involved in the war and claimed that they were the rebels from Kashmir itself, but the ammunition, identity cards, rations stores and other evidence prove that the Pakistan army was behind this cowardly act.

July 26 is celebrated as “Kargil Vijay Diwas” every year to mark the successful completion of “Operation Vijay” that ended the 3-month war along the Line of Control. Nearly 490 Indian army officers, soldiers and jawans were martyrs during the course of the battle.

 

INTERNATIONAL UPDATES:

 

1. China launches “Wentian,” second of its three space station modules: China launched the second of the three modules needed to complete its new space station. This was the most recent development in Beijing’s ambitious space programme. A Long March 5B rocket launched the unmanned spaceship with the call sign Wentian from the Wenchang launch facility on China’s tropical island of Hainan. A representative from the China Manned Space Agency (CMSA) confirmed the launch’s “success.” Key Points:

a)      In April 2021, Beijing launched the main module of the Tiangong space station, which is Chinese for “heavenly palace.”

b)      The new module, which is over 18 metres (60 feet) long and 22 tonnes (48,500 pounds) in weight, features three sleeping rooms and room for scientific investigations.

c)       It will join with the current module in space, a difficult procedure that will call for the utilisation of a robotic arm and multiple high-precision manipulations.

d)      It will dock with the current module in space, a difficult procedure that will call for the utilisation of a robotic arm and multiple high-precision manipulations.

e)      In the case of a failure, Wentian will also act as a backup platform for managing the space station.

f)        Tiangong, which should have a lifespan of at least 10 years, is anticipated to be completely operational by the end of the year after the third and final module docks in October.

 

2. International Day for the Conservation of the Mangrove Ecosystem: 26th July: International Day for the Conservation of the Mangrove Ecosystem is observed every year on July 26. The day is observed to raise awareness of the importance of mangrove ecosystems as “a unique, special and vulnerable ecosystem” and to promote solutions for their sustainable management, conservation and uses. The goal of the day is to promote sustainable management, conservation and utilisation of mangrove ecosystems and to bring attention to the significance of these ecosystems as unique, special, and vulnerable ecosystems.

History of the day: The UN Educational, Scientific, and Cultural Organization’s (UNESCO) General Conference established the day in 2015. On this day in 1998, a Greenpeace worker named Hayhow Daniel Nanoto passed away from a heart attack while participating in a sizeable demonstration to restore the mangrove wetlands in Muisne, Ecuador.

 

OTHER UPDATES:

 

SPORTS

 

1. Max Verstappen wins the title of 2022 French Grand Prix: Charles Leclerc of Ferrari crashed out of the race on lap 18 but was unharmed, and Max Verstappen of Red Bull took first place at Paul Ricard. Lewis Hamilton and George Russell of Mercedes finished third and fourth, respectively. After Verstappen pitted on Lap 17, it was up to Leclerc to step up. His race was finished in a harsh snap of oversteer at Turn 11, which also caused him to shout in rage and brought out the Safety Car. Hamilton and Red Bull’s Sergio Perez pitted and started chasing Verstappen after the restart. Verstappen continued to run and took over the lead.

 

2. Neeraj Chopra wins a silver medal in the javelin at the world championships: Neeraj Chopra makes history by winning silver in the World Athletics Championships for the first time ever. Neeraj Chopra grinned after his 88.13m throw in the fourth round. His greatest throw in the men’s javelin throw final in Eugene, US, allowed him to move into the provisional podium spot in second place, which helped to lessen the tension.

Anderson Peters, the defending champion, of Grenada claimed the gold with a best throw of 90.54 metres, and Jakub Vadlejch, the Czech Republic’s Olympic silver medalist, took the bronze with 88.09 metres.

 

BANKING AND FINANCE

 

1. Canara Bank launched its mobile app named “Canara ai1”: Canara Bank has launched “Canara ai1”, its mobile banking app. The banking app would be a one-stop solution with more than 250 features to cater to the banking needs of its customers. It is aimed to eliminate the need to have multiple mobile apps working in silos for availing of different specific services. The app is available in 11 languages to cater to multiple sections of society in their preferred language. About the “Canara ai1” app:

a)      The app has advanced features such as an intuitive user interface (UI) and user experience (UX) with multiple themes and menus that can be personalised as per the user’s choice.

b)      It also offers a dark theme to improve visual ergonomics, reduce eye strain, adjust the brightness to current lighting conditions, and facilitate screen usage in dark environments, all while conserving battery power.

c)       The app caters to various social security schemes including public provident fund accounts, Sukanya Samruddhi accounts, senior citizens’ savings accounts, Kisan Vikas Patra, and others.

d)      The Super App enables the customer to use traditional and modern banking and financial services in digital mode, and there are features for all age groups.

Note: Canara Bank Headquarters: Bengaluru; Canara Bank CEO: Lingam Venkat Prabhakar; Canara Bank Founder: Ammembal Subba Rao Pai; Canara Bank Founded: 1 July 1906.

 

BUSINESS AND ECONOMY

 

1. Forex reserves decreased by USD 7.5 billion to USD 572.7 billion: The Reserve Bank of India (RBI) most recent data shows that during the ending week of  July 15, India’s foreign exchange reserves decreased by $7.5 billion to $572.7 billion. The reserves have dropped to their lowest level in 20 months, or since November 6, 2020, when they were $568 billion.The report showed that foreign currency assets, which decreased by $6.5 billion over the week, were the main cause of the reduction in foreign exchange reserves. According to the July RBI report, the foreign exchange reserves at $580.3 billion on July 8, 2022, were sufficient to cover 9.5 months’ worth of anticipated imports for the years 2022–2033.

About Forex Reserve: In 2022, reserves decreased by nearly $60 billion, primarily as a result of the central bank’s active intervention to reduce the market’s extreme volatility. Since the conflict broke out in Europe in late February, the rupee has been under pressure. The Indian rupee has lost about 7% of its value compared to the dollar in 2022. The amount of foreign exchange reserves has decreased by almost $70 billion since September 2021.

 

2. Akshaya Moondra appointed as CEO of VI, replaces Ravinder Takka: Vodafone Idea, a telecom Company, said that Akshay Moondra, who currently serves as chief financial officer, has been promoted to CEO with effect from August 19. According to the filing, Ravinder Takkar, the business’s current managing director and chief executive officer, will remain on the board of the company when his tenure is up as a non-executive and non-independent director.

On August 19, 2019, Takkar was chosen as the organization’s MD and CEO for a three-year tenure that will expire on August 18. According to the filing, the company will soon make an announcement regarding a new CFO. A subsidiary of Vodafone’s promoter was given permission by the VIL board to receive warrants convertible into an equal number of equity shares at a price of Rs 10.20 per warrant, for a total of up to Rs 436.21 crore.

Note: Vodafone Founder: Gerry Whent and Ernest Harrison

 

AWARDS AND HONOURS

 

1. Gen. Naravane and former US Defense Secretary honoured for fostering Indo-US relations: The US-India Strategic Partnership Forum (USISPF) has recognised former Indian Army Chief General Manoj Mukund Naravane for his contribution to fostering ties between India and the US. The public service award has also been given to former US Defense Secretary General Jim Mattis in addition to Naravane. The USISPF gave prizes for public service and global leadership to those who had a significant impact on advancing connections between the US and India.

Key Points:

a)      General Mattis attempted to make India a US strategic ally while serving as the Defense Secretary.

b)      According to the USISPF, Gen. Naravane improved defence alliances and increased interoperability between the US and India while serving as the Chief of Staff of the Indian Army.

 

2. Kamal Haasan honoured by the UAE, obtains a Golden Visa: Kamal Haasan, a prominent figure in the Tamil cinema industry, has been given the prestigious Golden Visa by the United Arab Emirates. The Golden Visa has been given to others besides actor Kamal Hasan. Actors Nasser, Mammootty, Mohanlal, Tovino Thomas, Parthiepan, Amala Paul, and Shah Rukh Khan all have received it before Kamal Hasan.

About UAE Golden Visa: The UAE Golden Visa is an extended resident visa programme which lasts between five and ten years. The visa is perpetually extended. It is given to high performers in a variety of industries, as well as to professionals, investors, and those with potential skills. The cost of the Golden Visa for those who are currently residents of the UAE ranges from AED 2,800 to AED 3,800. The price of the Golden Visa for applicants outside of the UAE ranges from AED 3,800 to AED 4,800. Cost will vary according to service kind and visa status.

 

OBITUARIES

 

1. Renowned Marathi writer Anant Yashwant Khare passes away: Marathi writer Anant Yashwant Khare, better known as Nanda Khare, has passed away due to prolonged illness. He wrote 19 books on various topics like science, sociology, and geography with some of his most noted works being ‘Antajichi Bakhar’, ‘Bakhar Antakalachi’ and ‘Udya’. He had also worked on the editorial board of ‘Aajcha Sudharak’ newspaper for close to eleven years and was a member of the Marathi Science Council.