Daily Current Affairs 12 July 2022 for Banking/Insurance/SSC and other related exams.
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IS4OM inaugurated: India gives boost to self-reliance in safeguarding space assets
India has given a boost to self-reliance in safeguarding its space assets with ISRO System for Safe and Sustainable Space Operation and Management (IS4OM). Union Minister of State for Space Jitendra Singh inaugurated the IS4OM in Bengaluru, in the presence of Secretary in the Department of Space and Chairman of Indian Space Research Organisation S Somanath.
- IS40M is a system conceived with a holistic approach towards ensuring safety and sustainability of the space environment while reaping the benefits of sustainable utilisation of outer space for national development, according to ISRO.
President Ram Nath Kovind addressed Yuva Sammelan organized by ‘My Home India’
Ram Nath Kovind addressed the ‘Yuva Sammelan’ which was organized by ‘My Home India’ in New Delhi on 9th July.
- The President mentioned that the youth are the present and the future of India and their talent and ability plays a special role in making the country proud. He advised that youth should contribute the maximum for the progress of the country.
IIT-M tech to play ‘Pivot’al role in giving customised treatment for cancer patients
Scientists at IIT Madras have created a ground-breaking technology that can pinpoint an individual’s cancer-causing genes. The ‘Pivot,’ an Artificial Intelligence-based technology, will assist clinicians in developing individual-specific treatment plans for patients based on their DNA profiles.
- The tool is based on a machine learning model that divides genes into tumour suppressors, or genes that prevent the development of cancer, cancer causing oncogenes or neutral genes.
Coffee Board & ISRO team up to Develop Climate-Resistant Coffee Varieties
The Coffee Board and ISRO signed a Memorandum of Understanding (MoU) on breeding climate-resilient varieties and assessing the carbon sequestration potential in coffee, among other things.
- The Central Coffee Research Institute (CCRI) in Chikmagaluru district of Karnataka conducts plant-related research activities under the Board in the areas of plant breeding, agronomy, agriculture chemistry and soil science, and plant physiology, pathology, entomology, and post-harvest technology, among others.
BANKING & FINANCE
RBI fined Federal Bank and Bank of India for violating regulatory norms
Bank of India and Federal Bank were fined by the Reserve Bank of India (RBI) on July 8 for not adhering to certain provisions.
- Bank of India has been fined ₹70 lakh by the central bank for failing to follow Know Your Customer (KYC) guidelines. RBI said that non-compliance with the aforesaid RBI directions to the extent the bank failed to allot Unique Customer Identification Code (UCIC) to a large number of customers and failed to complete the process even within extended timelines.
- Federal Bank has been slapped with a fine of Rs. 5.72 crore because the private lender failed to make sure that no incentive (cash or non-cash) was paid to its staff engaged in insurance broking/corporate agency services by the insurance company.
BUSINESS & ECONOMY
Nokia partners with IISc to set up networked robotics center of excellence
Finnish telecom gear maker Nokia has partnered with Indian Institute of Science to set-up Nokia Center of Excellence in networked robotics at IISc Bengaluru.
- The Center of Excellence (CoE) will promote inter-disciplinary research involving robotics and advanced communication technologies in 5G and Artificial Intelligence (AI).
- It will also develop use cases across industrial automation, agriculture and disaster management.
Ferrari’s Charles Leclerc wins Austrian Grand Prix
Ferrari’s Charles Leclerc beat Max Verstappen to win the Austrian Grand Prix 2022. Leclerc, whose victory is his first in Formula 1 had not started on pole position, has now closed the gap to Verstappen in the drivers’ championship standings to 38 points.
AP CM Jagan Mohan Reddy elected lifetime president of YSRCP
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy was elected ‘president for lifetime’ of Yuvajana Sramika Rythu Congress (YSRC).
- The following decision was taken after the conclusion of the YSRC’s two-day plenary after an amendment to the party’s constitution.
Rajendra Prasad assumes charge of MD of NHSRCL
Days after the government dismissed National High Speed Rail Corporation Limited’s (NHSRCL) Managing Director Satish Agnihotri over corruption allegations, Rajendra Prasad has joined the organisation as its new Managing Director. Prasad has taken over additional charge as Managing Director of NHSRCL with effect from July 7, 2022, in addition to his duties as Director (Project) of NHSRCL.
Brajesh Kumar Upadhyay appointed as Director (Operations) of GSL
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Brajesh Kumar Upadhyay as Director (Operations) of Goa Shipyard Limited (GSL), a Miniratna PSU under the Ministry of Defence.
- Upadhyay has been appointed on the post for a period of five years with effect from the date of his assumption of the charge of the post, or till the date of his superannuation or until further orders, whichever is earlier.
- He is currently serving as General Manager (FPG&GES) in the same organisation. With his new appointment, Upadhyay will replace Shrikrishna Kamat.
Former VSNL chief, father of internet in India, B K Syngal passes away
Brijendra Kumar Syngal, former chairman of Videsh Sanchar Nigam Limited, passed away. He was 82. An IITian, Syngal left satellite communications company Inmarsat to take charge of VSNL in 1991.