Daily Current Affairs 10 March 2022 for Banking/Insurance/SSC and other related exams.
India’s first 100% women-owned ‘industrial park’ inaugurated in Hyderabad
India’s Hyderabad city has opened the country’s first 100% women-owned ‘FLO Industrial Park’ paving the way for female entrepreneurs to run and operate their business from this park.
- The ‘FLO Industrial Park’ began operations with 25 Green Projects in Hyderabad. It is promoted by FICCI Ladies Organization (FLO) in partnership with the Telangana government. The commencement of operations by 25 women-owned and operated units represent 16 diverse Green Category Industries at the Park.
- The 50 acres FLO Industrial Park in Hyderabad was established with an investment of ₹250 crore. It is the flagship project at a national level with participation open to Chapter Members, and the national members of FLO.
India’s largest reclining statue of Lord Buddha to be open for devotees next year
Buddha International Welfare Mission is constructing India’s largest reclining statue of Buddha in Bodh Gaya, Bihar. The statue, which will reportedly be 100 feet long and 30 feet high, is on track to be completed by February 2023.
- The construction of the giant statue started in the year 2019. It is being made with fiberglass and built by sculptors from Kolkata.
NIESBUD signs MoU with MoRD for implementing Start-up Village Entrepreneurship Programme
National Institute of Entrepreneurship and Small Business Development (NIESBUD), signed a memorandum of understanding (MoU) with the Ministry of Rural Development (MoRD) to develop a sustainable model for promoting entrepreneurship at the grass roots by initiating the Start-up Village Entrepreneurship Programme (SVEP).
- According to the ministry, it aims to support entrepreneurs in rural areas to set-up enterprises at the village-level in non-agricultural sectors. The partnership will enable the rural community by helping them set up their trades and provide complete support till they are stabilised.
Karnataka govt launches programme to provide 5 lakh jobs to women
Minister of Higher Education, Electronics, IT-BT, S&T and Skill Development Dr C N Aswath Narayan launched Women@Work (W@W) programme with an aim to provide five lakh jobs within 2026 to women with necessary employable skills.
- Participating in an event organised by Karnataka Digital Economy Mission (KDEM) in association with KTECH and Karnataka Skill Development Corporation to mark the Women’s Day celebrations, the minister launched the new initiative that was also held as part of the Karnataka digital economy mission programme.
Interest subsidy scheme for exporters extended till March 2024
The government’s decision to extend the interest equalisation scheme for exporters, allowing credit at a subsidised rate up to March 31, 2024, with retrospective effect from October 1, 2021, will provide greater predictability in operations and help in judicious pricing decisions, exporters have said.
- Exporters get subsidy under the ‘Interest Equalisation Scheme for pre and post-shipment Rupee Export Credit’. In April last year, the scheme was first extended till June end and later till September 2021.
- The interest equalisation rates under the scheme have been revised to 2 per cent and 3 per cent for specified categories of MSME manufacturer exporters, the RBI said.
Cabinet approves MoU signed between ICMR and Oxford University
The Union Cabinet was apprised of a Memorandum of Understanding signed between the Indian Council of Medical Research and the Oxford University in November last year.
- The MoU is aimed at capacity building for Indian scientists and researchers, collection of data compliant with international standards and regulatory requirements and development of India towards becoming a regional hub for capacity development.
India, Singapore MoU on Science, Tech, Innovation for societal challenges
Industry and research institutes from India and Singapore would soon jointly develop new products related to economic and societal challenges.
- This will come following through a MoU on cooperation in the fields of science, technology, and innovation signed between Indian’s Department of Science and Technology, and Singapore’s Ministry of Trade and Industry.
ICAR, CSIR, Ayush ministry ink pack for research and development collaboration in medicinal plants, ayurvedic foods
A tripartite agreement has been signed between the Indian Council of Agricultural Research (ICAR), Ayush ministry and CSIR for facilitation of R&D and deployment of technologies related to medicinal plants and ayurvedic food for the benefit of humans and animals.
- The key objective of the tripartite MoU is to take cognisance of the traditional agricultural practices of India, and undertake joint research and development (R&D) activities for validating and deploying these interventions for facilitating socio-economic growth, it added.
Union Cabinet approves MoU signed between ICMR, NIAID and National Institute of Health of Department of Health and Human Services, USA
The Union Cabinet was apprised of a Memorandum of Understanding signed between the Indian Council of Medical Research and the National Institute of Allergy and Infectious Diseases, National Institute of Health of Department of Health and Human Services, USA in September last year.
- The cooperation will be undertaken primarily in Chennai at the National Institute for Research on Tuberculosis of ICMR in the scientific area, including but not limited to, basic, translational, and applied innovative research, epidemiology, medicine, molecular biology, medical entomology, and virology.
- The focus on collaboration includes tuberculosis, parasitic infections, HIV AIDS, Allergic diseases, and immune system diseases.
BANKING & FINANCE
ToneTag, NSDL Payments Bank introduce voice-based UPI digital payment solutions for feature phones
Sound-based proximity communication and payments service provider ToneTag has introduced a simplified voice based UPI digital payment solutions for feature phones in association with NSDL Payments Bank.
- The company has launched its IVR ‘6366 200 200’ to bridge the gap in accessibility of digital payments, especially in rural India and help people to make digital payments with inconsistent network connectivity.
- Users can call 6366 200 200 where an Interactive voice response (IVR) guides the desired financial transaction. Every user can only proceed with the financial transaction through UPI PIN. They do not require internet connectivity or a smart phone for making payments.
Aditya Birla Sun Life Insurance,Bharat Co-operative Bank (Mumbai) ink bancassurance partnership
Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), and Bharat Co-operative Bank (Mumbai) Ltd. have announced their bancassurance partnership.
- This collaboration facilitates a common platform to reach out to the bank’s five lakh plus customers with relevant life insurance solutions.
- The partnership enables ABSLI to directly reach out to these customers through Bharat Co-operative Bank’s (Mumbai) 103 branches and fulfil their life insurance and investment planning needs.
Insolvency regulator IBBI signs MoU with IBA
Insolvency regulator IBBI and Indian Banks Association (IBA) have signed a Memorandum of Understanding (MoU) to collaborate on capacity building for financial creditors on topics related to insolvency, bankruptcy and related subjects.
- To improve the processes under the Insolvency and Bankruptcy Code (IBC), Ravi Mital urged bankers to share their suggestions and feedback regarding the IBC ecosystem with the IBBI.
IOB extends ₹1000 cr loan to JKIDFC
PSU lender Indian Overseas Bank (IOB) announced that it has sanctioned a loan of ₹1,000 crore to Jammu and Kashmir Infrastructure Development Finance Corporation Ltd (JKIDFC).
- The sanction is part of the Bank’s business plan to widen credit growth and funding infrastructure development across the nation. The bank has already disbursed ₹500 crore of the sanctioned amount.
- The loan, guaranteed by the Union Territory of J & K, is extended towards part funding for the completion of the languishing infrastructure projects in J&K and other new projects that are a priority for the state.
RBI selects Intellect Design Arena for Cloud Native Intellect Quantum Core Banking solution
Intellect Design Arena said that the Reserve Bank of India (RBI) has chosen Intellect to implement the upgraded version of the Cloud Native Intellect Quantum Core Banking solution to power the next stage of their digital transformation agenda.
- The next generation Intellect Quantum solution is built on cutting edge API first, cloud-native and cloud-agnostic microservices architecture supported by a rich set of packaged business components.
BUSINESS & ECONOMY
Atal Innovation Mission partners Snap for AR skilling among Indian youth
The Atal Innovation Mission of Niti Aayog announced that it has partnered with camera company Snap Inc, which controls social media platform Snapchat, to promote Augmented Reality (AR) skilling among Indian youth.
- Snap Inc. also announced a collaboration with the Atal Incubation Centers (AICs) to promote the Indian startup ecosystem with AR advertising bootcamps, ad credits, and other opportunities.
- Snap will hold special workshops as part of the Lensathon to teach young women in India to augmented reality and the skills they will need to navigate the digital economy of the future.
Adani Solar, Smart Power to jointly promote solar rooftop panels in rural India
Adani Solar and Smart Power India (SPI), a subsidiary of Rockefeller Foundation, have signed a non-financial and non-commercial memorandum of understanding for equitable access to last-mile electricity and to encourage energy transition in rural India
- The MoU aims to promote the usage of solar rooftop panels and achieve 5 MW of solar deployment through Adani Solar’s channel partners in rural and peri-urban areas of Uttar Pradesh, Bihar, Jharkhand and Odisha.
- The initial phase would start with around five channel partners in UP followed by deployment in other states.
Mondo Duplantis sets pole vault world record of 6.19m in Belgrade
Olympic champion Mondo Duplantis broke his own world pole vault record with a 6.19-meter clearance at the Belgrade Indoor Meeting.
- Duplantis set the record of 6.18 in February 2020 indoors in Glasgow.
- With all of his opponents finished, Duplantis opened his series with 5.61, 5.85 and 6.00 all on his first tries.
Indian GM S L Narayanan wins Cattolica International Open chess tourney
Indian Grandmaster S L Narayanan emerged winner in the Grandiscacchi Cattolica International Open while his compatriot R Praggnanandhaa finished runner-up.
- The 24-year old Indian GM, the top-seed, remained unbeaten through the nine rounds. He drew against Pier Luigi Basso (Italy) in the ninth and final round.
Air Marshal B Chandra Sekhar takes over as Commandant of Air Force Academy
Air Marshal B Chandra Sekhar has taken over as Commandant of Air Force Academy, Indian Air Force.
- The Air Marshal hails from Telangana state and underwent his schooling in Hyderabad prior to joining National Defence Academy, Khadakwasla.
- Air Marshal B Chandra Sekhar, was commissioned in the Indian Air Force on 21 Dec 1984. The Air Marshal has more than 5400 hours of incident-free flying on various aircraft. He also holds the distinction of landing the first MLH class of helicopter in the Siachen Glacier and he is also a Qualified Flying Instructor.
Environmentalist Rizwana Hasan to get US Int’l Women of Courage Award
The US Department of State has decided to recognise Bangladesh Environmental Lawyers Association (Bela) Chief Executive Syeda Rizwana Hasan with the International Women of Courage Award 2022.
- Rizwana Hasan is a lawyer who demonstrates exceptional courage and leadership in her mission to protect the environment and defend the dignity and rights of marginalized Bangladeshis.
BOOKS & AUTHORS
Ratnakar Shetty’s autobiography released
The book titled “On Board: My Years in BCCI”, an autobiographical account of Ratnakar Shetty’s experiences as an administrator.
- The book was released by Sharad Pawar, the former president of the MCA, BCCI and International Cricket Council.
- Shetty, a Chemistry professor by profession, went on to be the BCCI’s first Chief Administrative Officer after serving the Mumbai Cricket Association in various capacities.