Saturday, May 21, 2022
Friday, May 20, 2022
Tuesday, May 10, 2022
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CURRENT AFFAIRS SNIPPETS
08th and 09th May 2022
National News
Amit Shah launches sale of Khadi products in 107 CAPF canteens
Home Minister Amit Shah on Monday launched the sale of khadi products in 107 Central Armed Police Force (CAPF) canteens. Shah, who's on a three-day tour of Assam, said khadi products will be made available in all paramilitary canteens across India soon. He had earlier made it mandatory for CAPF canteens to sell maximum "Swadeshi" products through Khadi and KVIC.
Utkarsh Mahotsav organized by Central Sanskrit University begins
A three-day Utkarsh Mahotsav is being organized by Central Sanskrit University in New Delhi. The objective behind organising the Utkarsh Mahotsav is to promote the Sanskrit language across the country and beyond. They will leave no stone unturned to promote the Sanskrit language across the country and abroad. The Centralisation of three Sanskrit Universities reflects PM Modi’s strong commitment to preserving and promoting the Sanskrit language across the nation. The event is being jointly organised by the Central Sanskrit University, New Delhi, Shri Lal Bahadur National Sanskrit University, New Delhi and National Sanskrit University, Tirupati. The main theme of this Mahotsav is ‘Global Orientation of Sanskrit Studies in the New Educational Era’ Vice-Chancellors of 17 Sanskrit Universities, Scholars and a large number of students participated in the event.
Manipur’s Poumai Naga Areas declared ‘drug Free Zone’
In Manipur, the Poumai tribe has declared that Poumai inhabited areas will be a Drug-Free Zone supporting the State government’s War on Drug campaign. A huge delegation of the Poumai tribe by MLA and leaders of the students union and civil organization met Chief Minister N. Biren Singh today at Imphal and conveyed the resolution of the Drug-Free Zone in Poumai inhabited areas of the State. They also informed the Chief Minister that the poppy plantation will not be allowed in the Poumai areas. The Chief Minister welcomed the resolution of the Poumai Naga tribe and affirmed that the State government will not tolerate deforestation and poppy plantation in hill districts in Manipur. The leaders of the Paumai tribe also conveyed that the community will join the fight against the drug menace in the State.
Kerala govt to launch ‘Shaili App’ for diagnosing, and controlling lifestyle diseases
The government of Kerala is set to launch an Android App ‘Shaili’, aimed at diagnosing and controlling lifestyle diseases among the people in the state of Kerala. The app has been set up as part of the population-based screening project launched by the Health Department under the Nava Kerala Karma plan. The Accredited Social Health Activist (ASHA) workers have been tasked with collecting information from persons over the age of 30 in their respective areas about any lifestyle diseases or risk factors they may have. The app, set up under the e-Health initiative, would help to collect and codify the information quickly. The app would primarily collect information about diseases like diabetes, high blood pressure, heart disease, lung diseases as well as other lifestyle-related ailments and cancers. The health status of the individuals would be scored and those with a score of above four would be asked to visit the nearest health centre for a check-up for lifestyle diseases.
Haryana Govt Launches ‘e-Adhigam’ Scheme to distribute tablets to students
The Haryana State Government launches the ‘e-Adhigam’ scheme under which nearly 3 lakh students will be receiving tablet computers to aid their online education. The state government has planned to provide the gadget to five lakh students. Chief Minister Manohar Lal Khattar launched the Advance Digital Haryana Initiative of Government with Adaptive Modules (Adigham) scheme at Maharishi Dayanand University in Rohtak, Haryana.
Pushp Kumar Joshi Named HPCL Chairman and Managing Director
Pushp Kumar Joshi, who recently took over as the interim chairman and managing director of Hindustan Petroleum Corporation Ltd (HPCL), has been appointed to the Board of the nation’s third-largest oil refining and fuel marketing company. Joshi is also holding the additional charge of Director-Marketing of HPCL. Prior to this Dr Joshi was Director-HR of the Corporation from August 01, 2012. Joshi, the senior-most director on the HPCL board, was in January picked by the government headhunter PESB to replace Mukesh Kumar Surana. Surana superannuated from services on April 30, 2022, but in absence of a formal order from the Appointments Committee of the Cabinet (ACC) headed by the Prime Minister, Joshi was named interim head.
INTERNATIONAL
Bangladesh extends repayment schedule of loans to Sri Lanka by 1 yr
Bangladesh has decided to extend the repayment schedule of loans given to Sri Lanka by one more year. Bangladesh had provided $200 million in loans to Sri Lanka under a currency swap facility in May last year. Notably, the loans were originally due to be repaid in three months, but the term was extended several times at Sri Lanka's request.
Canadian PM Justin Trudeau makes unannounced visit to Ukraine
Canadian Prime Minister Justin Trudeau on Sunday made an unannounced visit to Ukraine amid the war in the country. Trudeau visited the Ukrainian town of Irpin, which was retaken from Russian forces in late March. In a statement, Trudeau's office said, "The PM is in Ukraine to meet with President (Volodymyr) Zelenskyy and reaffirm Canada's unwavering support for...Ukrainian people.
Pakistan imposes ban on export of sugar amid domestic demand
Pakistan has imposed a complete ban on the export of sugar owing to domestic demand for the commodity, PM Shehbaz Sharif said on Monday. "There will be...strict action against smuggling and hoarding [of sugar]. Absolutely zero tolerance [will be shown] for those found negligent in their duties," Sharif tweeted. Consumers in Pakistan's Punjab have reportedly complained of shortage of sugar.
Japan will cease to exist, Venice dying due to very low birth rates: Musk
The world's richest man Elon Musk recently tweeted, "At the risk of stating the obvious, unless something changes to cause the birth rate to exceed the death rate, Japan will eventually cease to exist." He added, "This would be a great loss for the world." In another tweet, Musk said, "Venice is slowly dying due to very low birth rates."
UN agency chief resigns amid probe into investments
Grete Faremo, the Executive Director of the United Nations Office for Project Services (UNOPS), resigned from her post amid a probe into investments made by the UN agency. The resignation comes after a news report claimed the UNOPS made "a baffling series of financial decisions" that purportedly led to $25 million in losses. Faremo had led the UNOPS since 2014.
BANKING, BUSINESS AND ECONOMY News
LIC IPO shares to be allocated on May 12, listing on May 17
Bidders in LIC IPO will be allocated shares on May 12, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey has said. He added that LIC will be listed on stock exchanges on May 17. The IPO, which opened on May 4 and closed on May 9, received 47.83 crore bids against 16.2 crore shares on offer.
Rupee closes at all-time low of Rs77.50 against US dollar
The Indian rupee weakened further on Monday to close at a new all-time low of 77.50 against the US dollar, 60 paise over its previous close. During the trading session, the rupee touched its lifetime low of 77.52. The currency was weighed down by elevated crude oil prices and a widening trade deficit.
NCLT orders insolvency proceedings against Birla Tyres
The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Birla Tyres in a case filed by multi-business chemicals firm SRF. As per SRF, Birla Tyres defaulted on payment of ₹15.84 crore for the supply of tyre cord fabric as of July 8, 2021. NCLT reprimanded Birla Tyres for taking a "casual attempt" to seek adjournments.
Toyota to invest ₹4,800 cr in Karnataka, will create 3,500 jobs
The Toyota Group has signed an MoU with the Karnataka government for a ₹4,800 crore investment in the state. As per the company's statement, the investment aims to promote green technology and set up local manufacturing facilities to build electric powertrain parts and components. The move will generate around 3,500 direct jobs, said Toyota Kirloskar Motor's Executive VP Vikram Gulati.
1 out of every 10 unicorns in the world today has been founded in India
With Open becoming India's 100th unicorn (startup with a valuation of $1 billion or above), one out of every 10 unicorns in the world has been founded in India, the government said. India is now home to 100 unicorn startups with a total valuation of $332.7 billion. Within the first four months of 2022, 14 Indian startups achieved unicorn status.
LIC's public issue has been successful: DIPAM Secretary
Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Monday said the LIC's IPO offer "has met with tremendous success". The LIC IPO, which started on May 4, has been closed today after being oversubscribed 2.95 times. While the policyholder position has been subscribed 6.11 times, the employees portion has been subscribed 4.39 times.
Adani Wilmar became India’s largest FMCG company surpassing HUL
Adani Wilmar Limited became the largest Fast Moving Consumer Goods Company (FMCG) in India beating Hindustan Unilever Limited (HUL), after the announcement of its Quarter Four results for the financial year 2022 (Q4FY2022). AWL has reported total operating revenue of Rs 54,214 crore in the Financial Year 2022 whereas HUL reported a revenue of Rs 51,468 crore in the Financial Year (FY) 2021-22. In Q4FY22 (January-March 2022), the AWL has seen a 40 per cent jump in revenue from operations to Rs 14,960 despite a 26 per cent i.e., Rs 234.29 crore hit in net profit in the same period.
Mindtree, L&T Infotech announce merger to create India’s 5th largest IT services
L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group announced a merger that would create India’s fifth-largest IT services provider. The combined entity will be known as “LTIMindtree”. The Boards of Directors of Mindtree and L&T Infotech (LTI) at their respective meetings held on Friday approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group. The proposed integration will see Mindtree and LTI join strengths to create an efficient and scaled up IT services provider exceeding USD 3.5 billion. These opportunities will create a more distinctive employee value proposition and stronger partnerships with ecosystem players.
Exide and Leclanché’s joint venture Nexcharge begins production in Gujarat
At its facilities in Prantij, Gujarat, Nexcharge, a joint venture between India’s Exide Industries Limited and Switzerland’s Leclanché SA, has started mass production of lithium-ion battery packs. The plant, which covers six lakh square feet and has a 1.5 GWh installed capacity, comprises six totally automated assembly lines and testing facilities. Exide and Leclanche invested Rs 250 crore in the plant, which would employ its six assembly lines to produce over 150 products developed over the last four years. The six assembly lines will use cells to create modules, which will subsequently be converted into battery packs in a variety of shapes and sizes, including pouch, prismatic, and cylindrical, to meet the energy storage needs of India’s electric vehicle market and industrial applications. Nexcharge manufactures battery packs for a variety of goods, including two- and three-wheelers, personal and commercial cars, and inverters. Cells are currently sourced from China by the company, which has an in-house R&D centre in Bengaluru. In India, it has 35 clients.
Indian Bank Launched Digital Broking Solution ‘E-Broking’
Indian Bank, a public sector bank, has introduced its digital broking solution – ‘E- Broking’, as a strategic move toward comprehensive digitalisation of its customer products. E-Broking, an instant and paperless demat & trading account opening service, is now available through the bank’s mobile banking app, IndOASIS. The product was introduced in collaboration with Fisdom, the bank’s financial technology partner. The E-Broking initiative will assist the bank in increasing its CASA (Current Account Savings Account). This initiative also enables the customers to invest in the ongoing Life Insurance Corporation of India (LIC) Initial Public Offering (IPO) effectively.
IndOASIS, the bank’s mobile banking app, would provide users with a unified experience ranging from Demat and trading account opening to reduced broking services backed by research-based investment in the secondary market, starting with equity, futures, options, and initial public offerings on a single platform.
Schemes News
Delhi Govt announced “Delhi Startup Policy” to aid the entrepreneur
The Delhi cabinet has approved the “Delhi Startup Policy” with an aim to create an ecosystem for people to launch startups and provide them with fiscal and non-fiscal incentives, collateral-free loans, and free consultancy from experts, lawyers, and CA. The 20 members task force will be set up to oversee the startup policy. This committee will be headed by Delhi’s Finance Minister. To encourage, facilitate, and support 15,000 startups by 2030. The Delhi Government will pay up to 50% of the rent of a startup’s office lease or pitch in for a portion of the salaries that these startups will pay to their employees. We will also reimburse them for the costs incurred on applying for patents, copyrights and trademarks.
Sports News
India beat Canada 5-0 to qualify for knockouts at 2022 Thomas Cup (Badminton)
India reached the knockout stage of 2022 Thomas Cup Finals after a 5-0 win against Canada in their Group C match in Bangkok on Monday. Notably, this is India's second successive win in the group. Ex-world number one Kidambi Srikanth gave India 1-0 lead followed by two doubles and two singles match wins. India will face Chinese Taipei on Wednesday.
Jasprit Bumrah records best bowling figures of IPL 2022
MI fast bowler Jasprit Bumrah on Monday recorded the best bowling figures of IPL 2022 so far. The 28-year-old registered figures of 4-1-10-5 against KKR. The previous best bowling figures in IPL 2022 were recorded by RCB leg-spinner Wanindu Hasaranga, who had taken five wickets for 18 runs against SRH. Bumrah has now taken 10 wickets in IPL 2022.
CSK record biggest win of IPL 2022, defeat DC
CSK defeated DC by 91 runs on Sunday to register the biggest victory (by runs) of IPL 2022. CSK have now won four matches in the tournament. The previous biggest victory (by runs) in the tournament had come on Saturday, when LSG defeated KKR by 75 runs. CSK will next face MI on Thursday.
Indian Grandmaster D Gukesh wins Sunway Formentera Open chess tournament
Indian Grandmaster D Gukesh has emerged as champion in the 1st Chessable Sunway Formentera Open 2022 chess tournament in Punta Prima. It was a hat-trick of titles for him after he had previously won the La Roda tournament and the Menorca Open in recent weeks. The 15-year old Gukesh (Elo 2637) settled for a draw with Armenian GM Haik M Martirosyan in the final round to win the title with eight points. He had defeated compatriot and second-seed K Sasikiran in the ninth and penultimate round. He has now moved up to no.64 in the world rankings.
Books and Authors News
A book ‘INDO-PAK WAR 1971- Reminiscences of Air Warriors’ released by Rajnath Singh
Defence Minister Rajnath Singh has released a book titled ‘INDO-PAK WAR 1971- Reminiscences of Air Warriors’ at the 37th Air Chief Marshal PC Lal Memorial Lecture organised by the Air Force Association in New Delhi, Delhi. The book was edited by Air Marshal Jagjeet Singh and Group Captain Shailendra Mohan. The book features 50 Swarnim articles written by veterans narrating their experiences in detail. Defence Minister also paid tribute to Air Chief Marshal Pratap Chandra Lal (PC Lal). Air Chief Marshal Pratap Chandra Lal (PC Lal), served as the Vice Chief of the Air Staff during the 1965 war and had served as the 7th Chief of the Air Staff during the 1971 war.
Important Days
World Thalassemia Day 2022 celebrates on 08th May
World Thalassemia Day is celebrated on May 8 every year to commemorate Thalassemia victims and to encourage those who struggle to live with the disease. Thalassemia is an inherited blood disorder that doesn’t let the body to create enough haemoglobin. The disease weakens and destroys the blood cells. There are two types of thalassemia, alpha and beta, along with Thalassemia minor, intermedia and major as its subcategories. The theme for this year’s World Thalassemia day is ‘Be Aware.Share.Care: Working with the global community as one to improve thalassemia knowledge.’
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