Daily Current Affairs 1 May 2022 for Banking/Insurance/SSC and other related exams.
Asia’s biggest international food and hospitality fair held in New Delhi
Agricultural and Processed Food Products Export Development Authority (APEDA) in association with the India Trade Promotion Organization (ITPO) is organizing Asia’s biggest international food and hospitality fair AAHAR-2022 at Pragati Maidan in New Delhi.
- Commerce and Industry Ministry said, more than 80 exporters from different segments of agricultural products which include geographical indication products, processed food, organic, and frozen food products will participate in the fair.
In a first, Maharashtra app maps workers’ migration for portability of ICDS scheme
In a first of its kind project in the country, the Maharashtra government has developed a website-based migration tracking system (MTS) application to map the movement of vulnerable seasonal migrant workers through individual unique identity numbers.
- The state government’s women and child development (WCD) department launched it as a pilot project in November last year in six districts with high tribal population including Gadchiroli, Chandrapur, Amravati, Jalna, Palghar and Nandurbar.
- The MTS project is envisaged to maintain the continuity of the Integrated Child Development Services (ICDS) like nutrition supply, immunisation and health check-up etc. to migrant beneficiaries including children aged up to 18 years, lactating mothers and pregnant women registered with the anganwadi centres.
First in India, ‘Maharashtra Gene Bank’ project approved by state cabinet
With an aim to document native natural resources and conserve them with the help of the local community that will ensure not just biodiversity conservation but also inclusion of traditional knowledge, the Maharashtra Cabinet approved the ‘Maharashtra Gene Bank’, a first-of-its-kind project in India.
- The Cabinet’s decision would guarantee the permanent continuation of the project that was run as pilot by Maharashtra government’s Rajiv Gandhi Science & Technology Commission across 27 districts. It would now be run by the State Biodiversity Board to sustain and continue the work.
- The Maharashtra Gene Bank is unique because it has tried to authenticate traditional knowledge by scientific institutions such as the Indian Institute of Science Education and Research (IISER), Pune, and the National Institute of Oceanography (NIO), Goa, Srivastava said, adding that CSIR institutions, several agricultural universities in Maharashtra and 25-odd NGOs too were part of the pilot project.
Railways and C-DoT sign MoU for modernisation of telecom services
The Ministry of Railways signed a Memorandum of Understanding (MoU) with Centre for Development of Telematics (C–DoT) to establish a collaborative working partnership.
- The partnership entails coordination and resource sharing with respect to provision of telecommunication facilities in the delivery and implementation of C-DoT’s Telecom Solutions and services in Railways.
- With this MoU, CDoT and the Union Ministry will work together for modernisation of telecommunication in Indian Railways for public safety and security services using LTE-R following world standards, 5G use cases in Indian Railways in line with Make in India policy, Internet of Things (IoT)/Machine to Machine (M2M) applications, Unified Network Management System, OFC Monitoring/Network Management System (NMS), Video Conference Software (VC DOT), chatting application, routers, and switches.
US places India, China, Russia on US property rights ‘Priority Watch List’
The United States placed India, China, Russia and four other countries on its annual ‘Priority Watch List’ for intellectual property protection and enforcement.
- The other countries that have been put on the list issued by the Office of the US Trade Representative are Argentina, Chile, Indonesia and Venezuela.All seven countries on this year’s list were on last year’s, too.
Up to 40% of Earth’s land degraded, half the global GDP under threat: UN
Up to 40 per cent of Earth’s land is degraded, which threatens nearly half of the global gross domestic product, or $44 trillion, according to a UN report released.
- If current practices continue through 2050, there could be an additional degradation of an area almost the size of South America, warns the UN Convention to Combat Desertification (UNCCD) report.
- The report, “Global Land Outlook 2,” also makes recommendations for decision-makers on ways to invest in land restoration, climate change mitigation and poverty reduction, Xinhua news agency reported.
- It gives both stark warning and hundreds of practical ways to affect local, national and regional ecosystem restoration. It shows how restoring land means restoring life, economies, communities, climate, health, etc.
BANKING & FINANCE
India behind Vietnam, Turkey in estimated crypto gains in 2021
2021 was a milestone year for cryptocurrencies, wherein virtual digital assets such as Bitcoin, Ethereum and many more bluechip crypto tokens scaled new life highs.
- United States topped the charts with an estimated realized gain of $49.95 billion, followed by the United Kingdom (UK) with estimated realized gains of $8.16 billion. The US topped the UK by about a wide margin of 575 per cent.
- In its Global Crypto Adoption Index, derived through its methodology, the Chainalysis has included as many as 50 countries.Germany ($5.82 billion), Japan ($5.51 billion) and China ($5.06 billion) were other names in the top 5 countries in estimated realized gains, the data suggested.
- India did not even make it to the top 20 names. It stood at 21st position with an estimated realized gain of $1.85 billion, lagging behind Asian peers such as Turkey, South Korea and even Vietnam.In 2021, China’s total estimated realized cryptocurrency gains were $5.1 billion, up from $1.7 billion in 2020, for a year-over-year growth rate of 194 per cent.
Real-time payments expected to boost India’s GDP by $45.9 bn in 2026
Real-time payments are forecast to boost India’s GDP by $45.9 billion in 2026 as real-time payments transaction volumes are set to exceed 206 billion by that time, a new report showed.
- In 2021, India accounted for the largest number of real-time transactions at 48.6 billion, almost threefold that of China (18 billion transactions) and almost seven times greater than the combined real-time payments volume of US, Canada, the UK, France and Germany (7.5 billion).
- According to the report by ACI Worldwide, in partnership with GlobalData and the Centre for Economics and Business Research (Cebr), the real-time payments helped India unlock $16.4 billion of additional economic output in 2021, equivalent to 0.56 per cent of formal GDP.
ICICI Bank launches Indias open-for-all digital ecosystem for MSMEs
ICICI Bank has launched India’s first comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs) in the country, offering complete range of enhanced banking and value-added services at one place. The customers of other banks can also avail the services.
- The benefits of the new digital ecosystem can be availed by downloading the latest version of InstaBIZ app, a super app for businesses. The app is available on Google Play, Apple App Store and at the bank’s Corporate Internet Banking (CIB) platform.
SEBI cuts listing time for REITs, InvITs by half to 6 days
To streamline the process of public issue of units of REIT and InvIT, markets regulator Securities and Exchange Board of India (SEBI) reduced the time taken for the listing these investment vehicles to six working days from 12 days at present.
- The new rule will apply to a public issue of units of Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InvIT), which opens on or after June 1, it said.
BUSINESS & ECONOMY
Google, Telanga govt join hands to support youth, women entrepreneurs with digital skills
Google signed a Memorandum of Understanding with the Telangana government to bring benefits of the digital economy to the youth and women entrepreneurs in the state and kicked off the ground-up development of its three million square foot building in the city.
- According to a Google release, Rama Rao unveiled the building design at the ceremony held onsite. The three million square foot building prioritises sustainability and energy efficiency throughout its design, it said.
- Under the new initiative, Google will collaborate with the government through its various arms to extend scholarships for Google Career Certificates to Telangana’s youth, support women, entrepreneurs, through digital, business, and financial skills training, and strengthen the government’s school modernisation efforts with digital teaching and learning tools and solutions.
NTPC signs MoU with Energy Vault for gravity-based energy storage technology
NTPC Ltd., India’s largest power utility, announced signing a Memorandum of Understanding (MoU) with Energy Vault Holdings, Inc., a leader in sustainable, grid-scale energy storage solutions.
- The objective of the MOU is to collaborate and formalise a long-term strategic partnership for deployment of Energy Vault’s EVx™, a gravity-based energy storage technology and software solutions based on the outcome of a joint feasibility study.
- The technology also offers beneficial utilisation of coal ash for manufacturing of composite blocks.
ACQUISITIONS & MERGERS
Tata group to merge Air Asia with Air India
Tata group to merge Air Asia with Air India, seeks Competition Commission of India’s approval.
- Since its takeover of Air India in January 2022, the Tata Group has been working towards making the airline even better, improving its on-time performance among other things.
- Now, the latest task that the Tatas have taken up is the consolidating of their airlines businesses.
Vijay Sampla assumes charge of Chairman National Commission for Scheduled Castes (NCSC)
BJP leader and former Union minister Vijay Sampla has been appointed as the chairperson of the National Commission for Scheduled Castes (NCSC) for a second time.
- Sampla had resigned as the NCSC chairman ahead of the Punjab elections and had contested the polls.
- He has been the former Union Minister of State for Social Justice & Empowerment from 2014 to 2019.
Shivalik Small Finance Bank appoints Anshul Swami as Managing Director and CEO
Shivalik Small Finance Bank has appointed Anshul Swami as the bank’s managing director and chief executive officer effective from April 26, according to people familiar with the development.
The Reserve Bank of India (RBI) has already approved the appointment of Swami, they said.
- Swami replaces Suveer Kumar Gupta who co-founded the bank and led its transition from an urban co-operative bank to a small finance one. Gupta will now act as an adviser to the Board of Directors.
Lieutenant General Manoj Pande takes over as new Chief of Army Staff
General Manoj Pande took over as the new Chief of Army Staff.
- He succeeded General Manoj Mukund Naravane. General Pande is the 29th Army Chief and the first officer from the Corps of Engineers to get this opportunity.
- An alumnus of the National Defence Academy, General Pande was commissioned into the Corps of Engineers in December 1982. He commanded an engineer regiment during Operation Parakram in the Pallanwala sector along the Line of Control in Jammu and Kashmir.
Snow leopard expert Charudutt Mishra gets Whitley Award
Noted snow leopard expert and wildlife conservationist Charudutt Mishra has won the prestigious Whitley Gold Award for his contribution to involving indigenous communities in the conservation and recovery of big cat species in Asia’s high mountain ecosystems.
- Princess Anne presented the award to Mishra at London’s Royal Geographic Society. This is his second Whitley Fund for Nature (WFN) Award. He got the first in 2005.
- Mishra was given the award for his work in 12 snow leopard range countries including Afghanistan, China, and Russia. “The key to his success has been embedding conservation within local communities,” the statement said. It added the award will enable Mishra to train conservationists on every continent on this “equitable” approach.
Atal Tunnel receives ‘Best Infrastructure Project’ award
The Border Roads Organisation (BRO) engineering marvel, Atal Tunnel, built in Rohtang in Himachal Pradesh, received the Indian Building Congress’ (IBC) ‘Best Infrastructure Project’ award in New Delhi.
- More than thirty state-of-the-art infrastructure projects were nominated for the award. The IBC jury selected the strategic tunnel as the ‘Best Project for Excellence in Built Environment’ in 2021.
- The tunnel, built using the New Austrian Tunnelling Method (NATM), was dedicated to the nation by Prime Minister Narendra Modi on October 3, 2020.
Singer Tarsame Singh Saini aka Taz of Stereo Nation passes away
London-based Indian singer Tarsame Singh Saini, popularly known as Taz, passed away, aged 54. The singer from Stereo Nation was suffering from hernia for the last two years and breathed his last in London.
- Taz started his career with cross-cultural Asian music in the 80s.The singer debuted with the song Hit the Deck and shot to fame after that. Taz also went by the name Johnny Zee and is known for songs like Nachenge Saari Raat, Gallan Goriyan and Pyaar Ho Gaya.
- He was the lead singer of the band Stereo Nation that was formed in the 90s. He also lent his voice for films such as Koi Mil Gaya, Tum Bin and, recently, Gallan Goriyan from Batla House with Dhwani Bhanushali.
BOOKS & AUTHORS
Devendra Fadnavis releases book on Amit Shah, praises his work ethic
Maharashtra BJP leader Devendra Fadnavis released a Marathi book on Union Home Minister Amit Shah that chronicles his political journey.
- The book, titled ‘Amit Shah Ani Bhajapachi Vatchal’, documents the life and journey of Shah and his contribution in building the BJP and making it the world’s biggest political organisation, the former CM said on the occasion.
- The book, originally written by Dr Anirban Ganguly and Shivanand Dwivedi, has been translated into Marathi by Dr Jyostna Kolhatkar.