Daily Current Affairs 10 April 2022 for Banking/Insurance/SSC and other related exams.
Government announces merger of Four Film Media Units
The Union government announced the merger of four film media units – Films Division, Directorate of Film Festivals (DFF), National Film Archive of India (NFAI), and Children’s Film Society of India (CFSI) – with the National Film Development Corporation (NFDC).
- The Ministry of Information and Broadcasting transferred the mandate of production of documentaries and short films, organising film festivals and preservation of films to the NFDC, a PSU working under it with an aim to reduce the overlap of various activities and ensure better utilisation of public resources, a government order said.
- The government has also made a budgetary allocation of Rs 1304.52 crore up to 2026 for all these activities, which will be implemented through NFDC, the ministry said.
IOM in partnership with NITI Aayog organizes a National Panel Discussion on Safe Migration
The International Organization for Migration (IOM), UN Migration in partnership with the Government of India’s think-tank NITI Aayog organized a National Conclave on March 29, 2022, at Hotel Taj Palace, Chanakyapuri in New Delhi to initiate, contribute to and support a holistic analysis on and of the core areas of migration.
- As migration trends continue to evolve, accompanied by unprecedented challenges, the situation calls for recognizing the potential for collaboration and coalescing of efforts towards a sustainable, safe, secure and orderly model of migration.
Arunachal Pradesh inks pact with WWF to develop state biodiversity strategy & action plan
Arunachal Pradesh inked a pact with WWF India to develop the State Biodiversity Strategy and Action Plan (SBSAP). The SBSAP will align with the post-2020 Global Biodiversity Framework and Pakke Declaration.
- The state cabinet on November 17 last year, adopted the ‘Pakke Tiger Reserve 2047 Declaration on Climate Change Resilient and Responsive Arunachal Pradesh’, which aims to promote ‘climate-resilient development’ in the state.
- The announcement is the first of its kind by any state government in the country.
- The ‘Pakke Declaration’ focuses on a multi-sectoral approach to low-emission and climate-resilient development based on five broad themes or Panch Dharas.
Assam Cabinet approves MoU with French agency for biodiversity conservation
The Assam Cabinet approved a memorandum of understanding (MoU) between the environment and forest department of the State and Agence Francaise de Development, a French funding agency, to foster bilateral dialogue in the field of environment.
- The Cabinet also approved the modified guidelines for issuance of caste certificates, including nature of documents required for establishing eligibility for getting such documents for Scheduled Castes, Scheduled Tribes, other backward classes and more other backward classes.
India Contributes $500,000 To Un Women’s Core Budget
India has contributed $500,000 to the UN Women, the United Nations entity dedicated to gender equality and the empowerment of women, for their core budget.
- UN Women Executive Director, Sima Bahous thanked India for its contribution and said that India’s support for UN women remains indispensable.
IRDAI signs MoU with IFSCA for exchange & sharing of information
Insurance Regulatory and Development Authority of India (IRDAI) has signed Memorandum of Understanding (MoU) with International Financial Services Centres Authority (IFSCA) for cooperation and coordination with respect to exchange and sharing of information, knowledge for effective supervision.
Tata Power commissions solar plant, India’s largest single-axis tracker system
Tata Power arm Tata Power Renewables has commissioned a 300 MW solar plant in Dholera, Gujarat with the country’s largest single-axis solar tracker system.
- It is India’s largest single-axis solar tracker system. The project will generate 774 MUs annually. Along with this, it will reduce approximately 704340 MT/year of carbon emission. The installation entails 873012 numbers of Monocrystalline PV Modules.
Bangladesh signs deal with Adani group for Indian Economic Zone
The Bangladesh Economic Zones Authority (BEZA) signed an agreement with the Indian company Adani Ports and SEZ Limited to set up an Indian Economic Zone at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai of Chattogram. The Indian Economic Zone will provide facilities for the Indian investors in Bangladesh.
- The Indian Economic Zone is being built on 857 acres of land with an estimated cost of Taka 964 crore supported by an Indian Line of Credit worth USD 115 million. The project involves land development, construction of connecting roads, security system, water supply, telecommunication and water treatment plant facilities for the Indian companies investing in Bangladesh.
BANKING & FINANCE
Ergos launches “GrainBank Loyalty Cards for Farmers”
This is the first time in the history of India that farmers have direct access to the state-of-the-art technology platform “Grain Bank” (developed by Ergos) to obtain valuable information and income about agricultural products.
- Grain Bank is a farmer-relationship-based post-harvest solution for farmers to digitize their grain, with direct access to lenders and processors, and one-click direct online purchase, or farmers postpone sales.
Govt to borrow Rs 8.45 trn from market during April-September period
The Union government is looking to raise Rs 8.45 lakh crore through borrowings in the first half of 2022-23 to fund the revenue gap for reviving the economy, the finance ministry said.
- Out of the gross market borrowing of Rs 14.31 lakh crore estimated for the next financial year, Rs 8.45 lakh crore is planned to be borrowed in the first half or April-September period.
Soft-launching India’s first KYC compliant Crypto Token
Redeemption Digital Technology Private Limited has soft-launched on 25th March’22 India’s first KYC-compliant crypto token – Redeemption. It’s a unique crypto token with which users can earn investing time, instead of money.
- Also, it’s India’s first crypto token which users can redeem for fiat money, even before its listing on exchange.
- Redeemption is an emerging Web 3.0 Technology base, patent-filed crypto token which is developed on Binance Smart Chain (BSC) BEP20 protocol.
RBI established Varnika Ink Manufacturing Facility in Mysuru, Karnataka
Reserve Bank of India’s wholly-owned subsidiary Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has set up an Ink Manufacturing Unit named “Varnika” in Mysuru, Karnataka. This new unit is dedicated to the nation by RBI governor Shaktikanta Das.
- This new ink manufacturing unit has a capacity of 1,500 MT.
- This new unit is set up to enhance the security of banknotes in the country.
- Colour Shift Intaglio Ink (CSII) is also being manufactured by this unit. Doing so, this unit has met the requirements of all the banknote printing presses in the country, thus, self-sufficiency and cost efficiency in banknote ink production have increased.
BUSINESS & ECONOMY
Indian Overseas Bank, Software Technology Park of India ink MoU
Public sector Indian Overseas Bank signed a memorandum of understanding with the Software Technology Parks of India (STPI) and STPINEXT (a Section 8 company of STPI) for leveraging innovation through the financial technologies engaged under the FinBlue initiative.
- This MoU will help the bank in leveraging innovation through the financial technologies engaged under the FinBlue initiative.
- The FinBlue initiative by STPI is an integrated programme to start-ups to scale through its incubation facility. It provides access to the financial technology ecosystem that consists of bankers, financial institutions, mentors, investors among others.
MG Motor India launches end-to-end online financing facility ePay
MG Motor India announced the launch of e-Pay, a one-stop online car finance platform for an end-to-end digital auto finance process that provides instant loan approvals. The automaker has partnered with ICICI Bank, HDFC Bank, Kotak Mahindra Prime and Axis Bank to offer instant financing options under the facility.
- Through e-Pay, customers can complete the purchase journey in five clicks and seven steps. They will have access to pre-approved loan offers from multiple financiers and can customize the loan tenure, amount and rate of interest as per their needs.
Aegon Life partners Ahalia Finforex to offer insurance cover to unserved segment
Aegon Life, a digital life insurance company, has partnered Ahalia Finforex, a Kerala-based diversified financial services firm, to provide life insurance access to the unorganized and unserved segments residing in tier 2, tier 3, and tier 4 towns.
- The partnership between Aegon Life and Ahalia Finforex provides insurance coverage to customers of the latter via the insurer’s Group Credit Life product. In the event of the borrower’s death, insurance from Aegon Life covers the loan amount.
Maltese PM Robert Abela sworn in for second term
The Prime Minister of Malta, Robert Abela has been sworn in for second term after his ruling Labour Party won the 2022 general election in a landslide victory.
- He was administered the oath of office by President George Vella.