Thursday, September 15, 2022

CURRENT AFFAIRS SNIPPETS 14TH SEPT 2022 ECGC IBPS RRB PO CLERKS



 

CURRENT AFFAIRS SNIPPETS

14th September 2022

 

 

National News


President Droupadi Murmu nominated Gulam Ali from J&K to Rajya Sabha 


Gulam Ali, a Gurjar Muslim from Jammu and Kashmir, has been nominated to Rajya Sabha by President Droupadi Murmu on the recommendation of the Central government.  In the notification, the Ministry of Home Affairs (MHA), "In exercise of the powers conferred by sub-clause (a) of clause (I) of article 80 of the Constitution of India, read with clause (3) of that article, the President is pleased to nominate Shri Gulam Ali to the Council of States to fill the vacancy caused due to the retirement of one of the nominated members."


International News


US mortgage interest rates rise above 6% for first time since 2008

US mortgage interest rates increased above 6% for the first time since 2008, Mortgage Bankers Association (MBA) data showed on Wednesday. The average contract rate on a 30-year fixed-rate mortgage increased by seven basis points to 6.01% for the week ending September 9. MBA added its Market Composite Index (MCI) declined 1.2% from a week earlier.


Twilio to cut staff by 11% to reduce costs, improve margins

Cloud communications platform Twilio on Wednesday said it plans to cut its staff by nearly 11% to reduce its costs, improve operating margins and create a better selling capacity. The firm's restructuring will be completed by the end of Q4 2022, Twilio added. Twilio estimates it'll incur between $70-$90 million in charges over restructuring plans.

 


India no.1 in sending students to US colleges & universities: US Embassy India

"India is the number one country for sending students to US colleges and universities," Minister Counsellor for Consular Affairs US Embassy in New Delhi Don Heflin said. "We issued 82,000 student visas this summer...a record for us," he said. According to Open Doors report, there were 1,67,582 students from India in the 2020-2021 academic year in the US.

 


Qimingxing-50: China’s First Fully Solar-powered Unmanned Aerial Vehicle(UAV) 


China has successfully tested its first fully solar-powered unmanned aerial vehicle (UAV) which can fly for months and can function even as a satellite if required. The maiden flight of Qimingxing-50 has been achieved, making it the first large-sized UAV powered only by solar energy, a Chinese government official informed in a tweet.  The Qimingxing-50, with a wingspan of 50 m, is a high-altitude long-endurance drone that is capable of high altitude aerial reconnaissance, assessing forest fire and can also be used for communications. This technology will bolster Chinese defences in space and at sea.


Norwegian central bank develops National digital currency using Ethereum 


National digital currency using Ethereum: Norges Bank, Norway's central bank, made a significant advancement in its efforts to develop a digital currency by publishing the open source code for the nation's central bank digital currency (CBDC) sandbox based on Ethereum technology. This development was made possible by the ongoing mainstream adoption of cryptographic technology.  CBDCs are a type of electronic fiat money backed by the central bank. Although they are not required to be, CBDCs can be built on blockchain networks. However, the CBDC in Norway is built on Ethereum.  The sandbox is made to provide a way to communicate with the test network.  The Bank's official CBDC partner, Nahmii, stated in a blog post that it has also enabled features including minting, burning, and transferring ERC-20 tokens.


State News


Uttar Pradesh tops in India, 8462 lakes developed under Mission Amrit Sarovar


Uttar Pradesh becomes the first state in India to construct 8,642 Amrit Sarovar (Lakes) in India. Amrit Sarovar is an ambitious mission initiated by Prime Minister Narendra Modi, which aims to conserve water for the future.  Madhya Pradesh is in the second position, Jammu and Kashmir in third, Rajasthan in fourth, and Tamil Nadu ranked in the fifth position. Lakhimpur Kheri, Uttar Pradesh, secured the first position within the state by constructing 256 Amrit Sarovar.  Gorakhpur secured the second position by constructing 245 lakes, and Pratapgarh secured the third position by constructing 231 lakes.  15,497 Amrit Sarovar was identified in different villages panchayats of which 8,462 Amrit Sarovar have been already developed.  These Amirt Sarovars are twice the total number of Amrit Sarovar collectively developed in Madhya Pradesh, Jammu and Kashmir, Rajasthan, and Tamil Nadu.


Appointments News


Senior Advocate Mukul Rohatgi to be next Attorney General for India


Senior Advocate Mukul Rohatgi is set to be appointed the 14th Attorney General for India again after KK Venugopal vacates the post. This will be Rohatgi's second time as AG, after his first stint between June 2014 and June 2017.  At the end of June this year, AG Venugopal's tenure was extended for a period of three months or "until further orders". This extension is set to expire on September 30. Rohtagi will take the seat of the country's top law officer from 1st October.  People aware of the matter said Rohatgi gave his consent for assuming the top post last week following a request from the Prime Minister’s Office (PMO). Rohatgi was Attorney General for the Bharatiya Janata Party-led National Democratic Alliance government between 2014 and 2017, soon after the new dispensation took over.


Burjeel Holdings appoints SRK as brand ambassador


Burjeel Holdings, a private healthcare services provider in the MENA region has signed Bollywood actor Shah Rukh Khan as its new brand ambassador. The company is owned by UAE-based Indian entrepreneur Shamsheer Vayalil. The actor will appear in a multi-platform advertising campaign in the region for the group that will be unveiled in the coming weeks. This will be the actor’s first healthcare ambassador role.  In the past, the actor has also tied up with Dubai’s tourism board to be one its brand ambassadors. But that partnership ended as of early 2022. He was also the first Indian celebrity to have received the UAE golden visa.


IBM and IIT Madras collaborate to promote quantum computing in India 


IBM and IIT Madras collaborate: Indian Institute of Technology, Madras (IIT-Madras) and International Business Machines (IBM) have cooperated to improve quantum computing research and talent development in India.  IIT Madras joins the IBM Quantum Network's global membership of over 180 organisations through this agreement. IIT Madras also joins the global network of Fortune 500 corporations, start-ups, academic institutions, and research labs using IBM Quantum technology to enhance quantum computing and investigate business application cases as the "first Indian university."


Agreements News


MeitY Startup Hub and Meta Collaborate to speed up XR technology startups in India


MeitY Startup Hub and Meta Collaborate: In association with Meta, MeitY Startup Hub (MSH) will introduce a programme to help and accelerate XR technology entrepreneurs in India.  The program's announcement is scheduled for September 13, 2022. At the event will be Joel Kaplan, Vice President, Global Policy, Meta, and Shri Rajeev Chandrasekhar, Hon'ble Minister of State for Electronics & Information Technology, Skill Development & Entrepreneurship.  The government's initiatives to develop skills in cutting-edge and future technology include this collaboration.  With a big talent pool of creators, developers, and a thriving technology environment, India is perfectly positioned to play a crucial role in the metaverse.  The world turns to it for supply-side innovation, talent, and technology to meet the growing need for digital goods.


Vedanta And Foxconn to Invest 1.54 Lakh Crore In Gujrat For Chip Manufacturing 


The Anil Agarwal-led-Vedanta Limited and Foxconn Group will invest more than Rs 1.54 lakh crore to set up an semiconductor ecosystem in Gujarat.  The oil-to-metals conglomerate said Vedanta Displays Limited will set up a Display Fab Unit with an investment of Rs 94500 crore and Vedanta Semiconductors Limited will set up an integrated Semiconductor Fab Unit and OSAT (Outsourced Semiconductor Assembly and Test) facility with investment of Rs 60000 crore.  The proposed semiconductor manufacturing fab unit will operate on the 28nm technology nodes with wafer size 300mm; and the display manufacturing unit will produce Generation 8 displays catering to small, medium and large applications.




BANKING, BUSINESS AND ECONOMY


SBI authorised to promote Rupee trade with Russia: Export industry body Prez

India has decided to authorise State Bank of India (SBI) to promote Rupee trade with Russia and soon, Russia will name its bank to operationalise the mechanism, said Federation of Indian Export Organisation President A Sakthivel. "[Commerce Secretary BVR Subrahmanyam] said very soon Russian government is going to identify a bank...Rupee trade with Russia will happen," Sakthivel said.


India's trade deficit widens to $27.98 billion in August: Govt

India's merchandise trade deficit widened to $27.98 billion in August 2022 from $11.71 billion a year earlier, revised data released by the government showed on Wednesday. The country's merchandise exports rose to $33.92 billion in August from $33.38 billion in the same period last year. Meanwhile, India's imports rose to $61.90 billion in August from $45.09 billion last year.

 


Govt to soon invite bids for privatisation of IDBI Bank: DIPAM Secy

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Wednesday said the department would soon invite preliminary bids from investors for the privatisation of IDBI Bank. "It's...first of its kind transaction where through a bidding route we'll be privatising...bank," he said. The government presently holds 45.48% stake in the bank and LIC owns a 49.24% stake.

 


35,000 buses in Karnataka to go electric by 2030: Minister

Karnataka Transport Minister B Sriramulu said the state government is planning to convert 35,000 buses to electric by 2030 keeping in mind environment and pollution related concerns. He added that with the rising costs of diesel, they were incurring losses. The Minister also said that the Bengaluru Metropolitan Transport Corporation (BMTC) is operating electric buses on a contractual basis.


'Moonlighting' not ethically right for full-time employees: IBM's India MD

Sandip Patel, the MD for IBM India/South Asia region, said, "All of our workers when they are employed, they sign an agreement which says that they're going to be working full-time for IBM." He added, "So moonlighting is not ethically right for them to get into." 'Moonlighting' refers to the practice of taking up secondary jobs after regular work hours.


Sachin Bansal helmed Navi Technologies approved by Sebi, for IPO


Navi Technologies approved by SEBI: The Securities and Exchange Board of India (SEBI) has given Sachin Bansal's fintech business Navi Technologies the go-ahead for an Initial Public Offering (IPO), which will help the Flipkart co-founder in his efforts to build a financial services conglomerate.  Navi Technologies submitted draft papers to SEBI in March of this year in order to raise up to Rs 3,350 crore through a new share offering.  Sachin Bansal, who has a 97.39 percent ownership in fintech, stated that there will not be an offer for sale (OFS) by shareholders in the IPO.


Science and Technology News


Hughes, ISRO Have Launched A Satellite Internet Service


Hughes Communication India (HCI), has collaborated with the Indian Space Research Organization (ISRO), to launch its first high throughput satellite (HTS) broadband internet service in the country. Since last year, the company has been testing its operations in northern India.  Through the first high throughout satellite (HTS) broadband internet service, the company has promised to deliver high-speed satellite broadband service to remote locations across India from the desolate part of Leh Ladakh to the northeastern part of India.


Awards News


74th Primetime Emmy Awards 2022: Check the complete list of winners


The 74th Primetime Emmy Awards were held, to mark some remarkable American television performances until mid-2022.  Overall, there are 40-plus categories, where writers, actors, directors and editors were awarded for their remarkable work from June 1, 2021 to May 31, 2022. The 74th annual Emmy Awards hosted by Kenan Thompson at the Microsoft Theater in Los Angeles.


74th Emmy Awards 2022: List of winners

 

Category

Winner

Outstanding lead actress in a comedy series

Jean Smart-Hacks

Outstanding lead actor in a comedy series

Jason Studeikis – Ted Lasso

Outstanding comedy series

Ted Lasso

 

Category

Winner

Outstanding lead actor in a limited or anthology series or a movie

Michael Keaton - Dopesick

Outstanding lead actress in a limited or anthology series or a movie

Amanda Seyfried – The Dropout

Outstanding limited or anthology series

The White Lotus

Outstanding lead actress in a drama series

Zendaya – Euphoria

Outstanding lead actor in a drama series

Lee Jung-jae- Squid Game

Outstanding drama series

Succession

Supporting actor in a comedy series

Brett Goldstein – Ted Lasso

Supporting actress in a comedy series

Sheryl Lee Ralph – Abbott Elementary

Guest actor in a drama series

Colman Domingo – Euphoria

Guest actress in a drama series

Lee You-mi- Squid Game

Supporting actor in a drama series

Matthew Macfadyen-Succession

Supporting actress in a drama series

Julia Garner- Ozark

Supporting actor in a limited series or TV movie

Murray Bartlett- The White Lotus

Supporting actress in a limited series or TV movie

Jennifer Coolidge- The White Lotus

Television movie

Chip ‘n’ Dale: Rescue Rangers

Guest actor in a comedy series

Nathan Lane- Only Murders in the Building

Guest actress in a comedy series

Laurie Metcalf- Hacks

Outstanding writing for a comedy series

Abbott Elementary- Quinta Brunson

Outstanding writing for a drama series

Succession – Jesse Armstrong

 

Category

Winner

Outstanding writing for a limited or anthology series or movie

The White Lotus – Mike White

Outstanding writing for a variety series

Last Week Tonight With John Oliver

Outstanding writing for a variety special

Jerrod Carmichael: Rothaniel

Outstanding writing for a nonfiction program

Lucy And Desi

Outstanding competition program

Lizzo’s Watch Out for the Big Grrrls

Structured reality program

Queer Eye

Unstructured reality program

Love on the Spectrum

Host for a reality or competition program

Rupaul - Rupaul’s Drag Race

Variety sketch show

Saturday Night Live

Variety special (live)

The Pepsi Super Bowl LVI Halftime Show Starring Dr. Dre- Snoop Dogg- Mary J. Blige- Eminem- Kendrick Lamar And 50 Cent

Variety Special (pre-recorded)

Adele: One Night Only

Short form comedy, drama or variety series

Carpool Karaoke: The Series

Short form nonfiction or reality series

Full Frontal With Samantha Bee Presents: Once Upon A Time In Late Night

Documentary or nonfiction special

George Carlin’s American Dream

Documentary or nonfiction series

The Beatles: Get Back

Exceptional merit in documentary filmmaking

When Claude Got Shot

Actor in a short form comedy or drama series

Tim Robinson- I Think You Should Leave With Tim Robinson

Actress in a short form comedy or drama series

Patricia Clarkson – State of the Union

 

Category

Winner

Animated program

Arcane

Short-form animated program

Love-Death + Robots

Character voice-over performance

Chadwick Boseman-What if…?

Narrator

Barack Obama-Our Great National Parks

Hosted nonfiction series or special

Stanley Tucci: Searching for Italy

Outstanding directing for a comedy series

Ted Lasso- MJ Delaney

Outstanding directing for a drama series

Squid Game – Hwang Dong-hyuk

Outstanding directing for a limited or Anthology series or movie

The White Lotus- Mike White

Outstanding directing for a variety series

A Black Lady Sketch Show – Bridget Stokes

Outstanding directing for a variety of special

Adele: One Night Only – Paul Dugdale

Outstanding Directing for a documentary/nonfiction program

The Beatles: Get Back- Peter Jackson

Outstanding Directing for a reality program

Lizzo’s Watch Out For The Big Grrrls- Nneka Onuorah

SPORTS

Alireza Firouzja wins Sinquefield Cup & The Grand Chess Tour


Iranian-French chess grandmaster, Alireza Firouzja beat Ian Nepomniachtchi in play-offs to win the ninth edition of the Sinquefield Cup. Firouzja also grabbed an extra $100,000 for winning this year’s Grand Chess Tour.  Wesley So and Maxime Vachier-Lagrave came in second and third place, respectively. The fifth leg of the Grand Chess Tour, the Sinquefield Cup was held in Saint Louis, Missouri, US.  The 9th Sinquefield Cup was played from September 1 to September 13, 2022, and was the fifth leg of the Grand Chess Tour 2022. Before the start of the fourth round, Magnus Carlsen withdrew from the tournament.

 


Vinesh creates history, becomes 1st Indian woman wrestler to win 2 World C'ships medals

Wrestler Vinesh Phogat on Wednesday created history by becoming the first-ever Indian woman wrestler to win at least two medals in World Championships. The 28-year-old defeated Sweden's Jonna Malmgren 8-0 to bag bronze in the 53-kg category at the 2022 World Wrestling Championships in Belgrade. She had bagged her first World Championships medal, a bronze, in 2019.


Who are the highest-ranked Indian cricketers in the latest rankings?

As per the latest men's cricket rankings, Rishabh Pant is the highest-ranked Indian Test batter, while Ravichandran Ashwin and Ravindra Jadeja are top-ranked Indian bowler and Indian all-rounder, respectively. In ODIs, Virat Kohli is the top-ranked Indian batter, while Suryakumar Yadav is the top-ranked Indian batter in T20Is. Hardik Pandya is the top-ranked Indian all-rounder in ODIs and T20Is.

 


Books and Authors News


Army Hospital in New Delhi opened the Early Intervention Center "Prayas"


Former Dutch field hockey player and former Indian Women’s Hockey Coach, Sjoerd Marijne, authored a new book titled “Will Power: The Inside Story of the Incredible Turnaround in Indian Women’s Hockey”. The book published by HarperCollins Publishers India will be launched in September 2022.  The book highlights the experiences of Sjoerd Marijne, when he was appointed the Chief Coach of the Indian Women’s Hockey Team in 2017. It also talked about how the Indian Women’s Hockey team dealt with setbacks, mental health issues, internal politics and maintained team chemistry along with high-performance culture.  The book is a memorable account of Sjoerd Marijne’s innings and will inspire readers to perform for the best, be it in life, their careers or as part of teams.


Important Days


Hindi Diwas 2022: Check history and Interesting facts


Hindi Diwas or Hindi Day is observed every year on 14 September to mark the popularity of Hindi as an official language of India. The language was adopted under Article 343 of the Indian Constitution.  The first Hindi day was celebrated on 14th September 1953. Hindi is one of the major languages used in India as a large portion of the country's population knows and uses the language. Schools, colleges and other educational institutions celebrate Hindi Diwas by organising various programs.  Hindi Diwas is celebrated to commemorate the adoption of Hindi in the Devanagari script as one of the official languages of the nation. Hindi was adopted by the National Constitution on September 14, 1949 and it became the official language of the country. India's first prime minister, Jawaharlal Nehru, decided to celebrate September 14 as Hindi Diwas.  Hindi Diwas also marks celebrating the birthday of Beohar Rajendra Simha who played a crucial role in getting Hindi in the Devanagari script approved as an official language of India. He was born on 14 September 1916.


Miscellaneous News


Los Angeles named September 17 as ‘Squid Game’ Day


The City of Los Angeles has officially designated September 17 Squid Game Day, in recognition of the South Korean Netflix series’ achievements.  “Squid Game” was nominated for 14 Emmy Awards in July and is the first non-English language series to earn a nomination for Outstanding Drama Series.  It was also the first Korean and first non-English language series to win a Screen Actors Guild Award. 

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CURRENT AFFAIRS SNIPPETS 13 TH SEPTEMBER 2022


CURRENT AFFAIRS SNIPPETS

13th September 2022

 

 

National News


Right to contest elections not a fundamental right: Supreme Court

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Observing that the right to contest elections is neither a fundamental nor a common law right, the Supreme Court imposed a cost of ₹1 lakh on a litigant. The litigant was seeking to contest the Rajya Sabha polls without a proposer to propose his name. "It (right to contest polls) is a right conferred by a statute", the bench said.

 


PM Modi to unveil National Logistics Policy on Sept 17

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The National Logistics Policy will be released by Prime Minister Narendra Modi on September 17, Union Minister of Commerce and Industry Piyush Goyal said on Tuesday. The policy is aimed at facilitating the seamless movement of goods across India, the minister added. The policy's introduction was announced by the central government during the presentation of the Union Budget 2020-21.


Punjab govt to give monthly stipend to sportspersons

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Punjab Sports Minister Gurmeet Singh Meet Hayer launched the Olympian Balbir Singh Senior Scholarship Scheme, which aims to give a monthly stipend to sportspersons who bag the first three positions in national competitions. The scheme provides a monthly stipend of ₹8,000 for one year to senior national medal winners while the junior national medal winners will get ₹6,000.


EC delists 86 'non-existent' unrecognised political parties

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The Election Commission of India on Tuesday delisted 86 Registered Unrecognised Political Parties (RUPP) that were found to be non-existent. Further, it declared 253 RUPPs as 'inactive', noting that they've not contested a single election either to the state general Assembly or the Parliament election 2014 and 2019. The EC barred these parties from availing benefits of Elections Symbol Order.

 


National Maritime Heritage Complex to be built in Gujarat


Ministry of Ports, Shipping and Waterways is building the National Maritime Heritage Complex at the historic Indus Valley civilization region of Lothal in Gujarat with a total cost of 3500 crores rupees.  The first-of-its-kind complex in India, this centre will showcase India’s rich and diverse maritime heritage. The foundation stone for the NMHC project was laid by Prime Minister Narendra Modi and the consent for the master plan was given in March 2019.


All India Institute of Ayurveda launches 6-Weeks programme on Ayurveda Day


All India Institute of Ayurveda (AIIA), under the Ministry of Ayush, has launched the Ayurveda Day 2022 programme.  AIIA has been chosen as the nodal agency for driving the Ministry of Ayush’s mandate for Ayurveda Day this year. Ayurveda Day curtain raiser for the six-week long programme (12th September-23rd October).  The Ministry of AYUSH celebrates Ayurveda Day every year on Dhanvantari Jayanti and this year it will be celebrated on 23 October.  The theme for the celebration is ‘Har Din Har Ghar Ayurveda’.  This year the Ministry is celebrating it in collaboration with all the Ministries and departments of the Government of India so that every person of the nation is made aware of the traditional system of medicine.


International News


US inflation eases to 8.3% in August; falls for second straight month

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The US' consumer price index (CPI) rose 8.3% in August 2022, data released by the US Bureau of Labor Statistics showed. It is down from 8.5% recorded in July and 9.1% reported in June, which was a 40-year high. Increases in the shelter, food and medical care indices were the largest contributors to the rise in US' CPI.

 


Twitter shareholders approve Elon Musk's $44-billion bid to buy company

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Twitter shareholders on Tuesday approved Elon Musk’s $44-billion bid to buy the social media platform. Twitter said that the measure passed based on a preliminary count, adding that it will provide a final vote count to shareholders at a later date. Musk in July announced that he was calling off his bid to buy the firm.

 


King Charles names William and Kate as the Prince and Princess of Wale 


Britain's King Charles has bestowed the titles of Prince and Princess of Wales on his eldest son William and daughter-in-law Kate, passing on the titles that he and his late wife Diana previously held. Charles, who became Prince of Wales in 1958, automatically became king on the death of his mother, Queen Elizabeth.  Delivering his first speech to the nation since the death of his mother Queen Elizabeth, Charles said he was proud to make his heir William the Prince of Wales, a title Charles had held since 1958.  Mr. William and Ms. Kate, both 40, have taken on central roles within the royal family in recent years, appearing regularly in public and increasingly taking their three young children to events such as the queen’s Platinum Jubilee earlier this year.  Ms. Kate appreciated the history associated with the title but would seek to create her own path as Princess of Wales.


State News


Uttar Pradesh Government to Provide a Unique Farm ID to the Farmers 


Uttar Pradesh government will provide a Unique Farm ID to the farmers, which will be linked to Aadhar to provide them with all benefits of government schemes. The Unique Farm ID will be similar to the Aadhar card.  The government is planning to use Aadhar verification to implement the Unique Farm ID card scheme for the farmers.  During the workshop regarding the Unique Farm ID card scheme, the Government wants to initiate and spread the use of Aadhar in more simpler terms.  Aadhar will be used to make the use of the Unique Farm ID cards more easily. UP government wants to provide all benefits of the government schemes to the farmers and reach up to the maximum number.  The Chief Secretary Durga Shankar Mishra said that the state has saved 8400 crore rupees with the use of Aadhar verification.  Through Aadhar verification more than one crore of school children are benefited from various schemes.


Gujarat CM Bhupendra Patel announces first-ever Cinematic Tourism Policy 2022-2027


Gujarat Chief Minister, Bhupendra Patel has announced Gujarat’s first-ever ‘Cinematic Tourism Policy’ in the presence of dignitaries including actor Ajay Devgan, and State Government Minister Shri. Purnesh Modi and Shri Arvind Raiyani.  This new policy will create viable opportunities for film production in Gujarat and also provide employment opportunities to local people. There are many places in Gujarat like the White Desert of Kutch, Shivrajpur Beach where there are ample opportunities to become shooting spots.  Four MoUs worth Rs. 1022 crore for investments in various subjects including filmmaking, studio infrastructure, acting schools in Gujarat were signed by some investors with the tourism department.


Appointments News

 


BharatPe appoints RBI ex-Dy Guv Kanungo & Zomato Chairman Dutta to board

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Financial services platform BharatPe has appointed former Reserve Bank of India (RBI) Deputy Governor BP Kanungo and Zomato Chairman Kaushik Dutta as independent directors to its board of directors. BharatPe CEO Suhail Sameer said that the company plans to go public in the next 2-3 years. Last month, BharatPe appointed former finance head of SBI Cards, Nalin Negi, as CFO.

 


American Express Banking Corp India named Sanjay Khanna as new CEO


American Express Banking Corp India has appointed Sanjay Khanna as its chief executive officer (CEO) and country manager. At present, Khanna heads the country executive team and is responsible for driving growth across the organisation’s consumer and commercial businesses.  In his new role, Khanna will be leading several business development initiatives for American Express, while steering collaboration across its diverse businesses in India, adding his position will be key to strengthening the company’s strategic focus in the country.


Economy News

 

 


Per Capita Government Spending on Healthcare Increases by 74% Since 2013-14 


The per capita government spending on healthcare has increased by 74 per cent since 2013-14. As per National Health Accounts Estimates India 2018-19, the per capita government spending in 2013-14 was one thousand forty-two rupees, which has increased to one thousand eight hundred and fifteen rupees.  It said, government's share in the overall spending on health in the country is increasing steadily. The government’s share in current health expenditure has increased from 23.2 per cent in 2013-14 to 34.5 per cent in 2018-19.


RBI Sells $13 billion in August to Hold Rupee at 80


India's foreign exchange reserves slumped by over $2 billion in the week ending August 12, as the Reserve Bank of India intervened to shore up the rupee and keep the currency below 80 per dollar.  That is an effort the Indian central bank has said was essential, and it would do whatever it takes to maintain the rupee's stability, limiting any wild swings despite extremely volatile currency markets.  The RBI's weekly statistical supplement data showed that the country's forex reserves slumped to $570.74 billion in the week ending August 12, down by $2.238 billion from $572.978 billion in the previous week. The magnitude of that fall in the latest week was the largest in a month, and the country's import cover dipped for the second week.


Retail Inflation Resurges To 7% As Food Prices Increases 


Price pressures returned to the Indian economy in August, with retail inflation quickening to 7% after cooling to a five-month low in July.  The increase, led by food prices, makes it the eighth month that retail inflation has stayed above the central bank’s upper tolerance limit of 6%, strengthening the case for continued monetary tightening.  Retail inflation in July had cooled to 6.7%, and a poll of 22 economists estimated August inflation at 6.9%. The Reserve Bank of India has projected Consumer Price Index (CPI) based inflation for 2022-23 at 6.7%. Inflation is expected to remain elevated over the next couple of months due to last year’s low base, even as easing energy and commodity prices globally would help cool inflationary pressures.


Banking .AND BUSINESS

 


Bajaj Holdings announces interim dividend of ₹110 per equity share

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Bajaj Holdings & Investment Ltd has said that its board has approved an interim dividend of ₹110 per equity share of the face value of ₹10 for the financial year ending March 31, 2023. "The record date for the purpose of determining the members eligible to receive the interim dividend has been fixed as Friday, September 23, 2022," it added Currently its share price is Rs.6600. +

 


HDFC Bank issues India's first Electronic Bank Guarantee


HDFC Bank, India’s largest private sector bank, became the first bank in the country to issue an Electronic Bank Guarantee (e-BG) in partnership with National E-Governance Services Limited (NeSL).  The paper-based, time-consuming process has been eliminated with the new electronic bank guarantees that can be processed, stamped, verified and delivered instantly with enhanced security. This is a transformational change, and the Bank will migrate to e-BG to benefit all its customers.  Paper-based bank guarantees takes 3-5 days to complete the process of physical pick up from the bank, courier to the beneficiary, stamp it and re-verify it. Besides, there was no central repository for bank guarantees until now.  Bringing inefficiency of time, eBG offers enhanced security. Physical stamping has been eliminated and replaced with eStamping and with eBG, the applicant and beneficiary can instantly view a bank guarantee on the NeSL portal.


Bonds help the Bank of Maharashtra raise $710 million


Bank of Maharashtra raise $710 million: The government-owned Bank of Maharashtra (BoM) reported raising Rs 710 crore through bonds to finance company expansion.  According to a statement from the bank, the money was raised through Basel III compliant Additional Tier 1 (AT1) bonds for Rs 710 crore (including Rs 610 crore for the green shoe option) at a coupon rate of 8.74 percent.  When compared to the base issue size of Rs 100 crore, the issue received a ten-fold increase in subscription from investors.  The bank's business growth will be supported by the money raised through the AT1 bonds.
The AT1 instrument has a five-year call option and is eternal in nature.


Summits and Conferences News


Cyber Crime Investigation and Intelligence Summit 2022 


Cyber Crime Investigation and Intelligence Summit 2022: The 4th Cyber Crime Investigation and Intelligence Summit-2022 is being organised by the Madhya Pradesh Police to improve the knowledge and abilities of police sub-inspectors and senior investigating officers in order to effectively prevent cybercrimes.  Yogesh Deshmukh, Additional Director General of Police, State Cyber Police Headquarters, stated during the summit's curtain-raiser ceremony that more than 6000 people had registered to attend.  The largest knowledge-sharing, thought-leadership, and cybercrime investigation and intelligence summit (CIIS 2022) in India was organised by the Madhya Pradesh Police through the State Cyber Police and Parimal Labs from September 12 to 22, 2022, in collaboration with Softclicks Foundation, Cleartel Technology, and UNICEF.

 

Awards News


SIIMA Awards 2022: Check the complete list of winners


The biggest award, South Indian International Movie Awards 2022 (SIIMA) was held in Bengaluru, Karnataka.  Several biggies from the South including Allu Arjun, Silambarasan TR, Pooja Hegde, Vijay Deverakonda, Kamal Haasan, and many others graced their presence at the award night. The awardees of Telugu and Kannada films were announced. From Allu Arjun, Ranveer Singh to Yash, many won big at SIIMA.


Jal Shakti Ministry Announces Winners of ‘Water Heroes: Share Your Stories Contest’


The Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti launched the 'Water Heroes: Share Your Stories' contest. The third edition of the 'Water Heroes: Share Your Stories' contest was launched on 1st December 2021 and it will end on 30th November 2022 on MyGov Portal.  The first edition was launched from 1st September 2019 to 30th August 2020 and the second edition of the 'Water Heroes: Share Your Stories' contest was launched from 19th September 2020 to 31st August 2021. For August, the six winners of the 'Water Heroes: Share Your Stories' contest will get a ₹10,000 cash prize and a certificate.


Sports News


Sikkim to host 3 Ranji Trophy matches for the first time


Sikkim will host three Ranji trophy matches for the first time in December. The state will welcome three northeast teams: Mizoram, Manipur and Arunachal Pradesh, at the Mining Cricket Ground near Rangpo.  The BCCI’s decision to allow Sikkim to host three of its Ranji matches at home will act as a game-changer in cricket’s promotion in Sikkim. Along with Ranji Trophy matches, Sikkim will also play two Cooch Behar Trophy matches, and three Col CK Nayudu Trophy matches at Mining.  The Cooch Behar Trophy match on November 12 against Assam will be the first major domestic match in Sikkim. After two back-to-back multi-day men’s under-19 matches, cricket fans in the state will enjoy a Ranji Trophy match in Sikkim for the first time on December 13, when the senior men’s team take on Manipur in the 2022-23 Ranji Trophy opener.


Max Verstappen denies Charles Leclerc in Monza for fifth straight victory


Max Verstappen won the Formula One Italian Grand Prix. Max Verstappen claimed his first win or podium finish, at Monza after fighting from seventh on the grid to beat Charles Leclerc over the line.  He is 116 points ahead of Charles Leclerc in the driver standings after winning a race whose final six laps were run with the safety car after Daniel Riccardo slid off the track.  George Russell of Mercedes rounded off the podium, while teammate of Leclerc, Carlos Sainz, came fourth after starting at 18th position.  Seven times world champion Lewis Hamilton also raced from the back of the Mercedes and finished in the fifth position, while Nyck de Vries finished ninth in his F1 debut.


Obituaries News


Swami Swaroopanand Saraswati passes away at 99


Dwarka-Sharda Peeth Shankaracharya Swami Swaroopanand Saraswati has passed away at Narsinghpur in Madhya Pradesh. He was 99 years old. He breathed his last at the Shridham Jhoteshwar Ashram in Narsinghpur.  Swami Swaroopanand was born in Dighori village in Madhya Pradesh’s Siwani district. He left his home at the age of 9. Later, he went to Kashi in Uttar Pradesh, where he gained spiritual enlightenment and religious wisdom from Swami Karpatri Maharaj.


Legendary Telugu actor Krishnam Raju passes away


Legendary Telugu Actor and former Union Minister, Krishnam Raju Garu passed away aged 83. He was known as the 'rebel star' of Telugu cinema Garu is also the uncle of famous Telugu actor and Bahubali star Prabhas.  Raju acted in more than 180 films and was also a recipient of five Filmfare south awards as well as three Nandi awards. His most famous works include Jeevana Tarangalu, Krishnaveni, and Bhakta Kannappa among others.


Former Kerala minister & Janata Dal leader NM Joseph dies aged 79

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Former Kerala Forest Minister NM Joseph passed away on Tuesday at the age of 79, his family said. Joseph served as the state Forest Minister from 1987 to 1991 and also worked as a professor of economics at the St Thomas College in Pala. He also served as Janata Dal's national vice-president. Kerala Chief Minister Pinarayi Vijayan condoled his demise.


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