Daily Current Affairs 13 May 2022 for Banking/Insurance/SSC and other related exams.
Agriculture Ministry signs MoU with UNDP for strategic partnership on Agriculture, Crop Insurance and Credit
Ministry of Agriculture and Farmers Welfare and the United Nations Development Programme have signed a Memorandum of Understanding wherein UNDP will provide technical support towards Centre’s aspirational Pradhan Mantri Fasal Bima Yojana scheme (PMFBY) and Kisan Credit Card – Modified Interest Subvention Scheme.
- Under the MoU, UNDP will leverage its expertise in systems and global know-how for supporting the Ministry of Agriculture for the implementation of combined agriculture credit and crop insurance.
Haryana launches scheme for fodder growers
The Haryana government launched the ‘Chaara-Bijaee Yojana’ to encourage farmers to grow fodder and help gaushalas, which have been grappling with fodder shortage amid a rise in the stray cattle population.
- Under the scheme, farmers who have tied up with gaushalas, will be eligible to receive a financial aid of ₹10,000 per acre for up to 10 acres under fodder cultivation.
- The number of cow shelters in the state increased from 175 in 2017 to 600 in 2022. Most cow shelters remain overcrowded due to an increase in the stray cattle population.
5000-year-old jewellery factory found in Haryana’s Indus Valley site Rakhi Garhi
The Archaeological Survey of India (ASI), which has been working in Rakhi Garhi in Haryana for the last 32 years, made one of its biggest discoveries yet with the excavation of a 5000 year old jewellery making factory.
- Rakhi Garhi is a village and one of the oldest archaeological sites belonging to the Indus Valley Civilisation in Hisar district of Haryana.
- The structure of some houses, a kitchen complex and a 5000-year-old jewellery making factory was discovered, which shows that the site must have been a very important trade centre. Copper and gold jewellery were also found which had been hidden for thousands of years.
Czech Republic to replace Russia on UN Human Rights Council
Following Russia’s suspension due to allegations of horrendous rights violations by Russian military in Ukraine, the United Nations General Assembly unanimously opted for the Czech Republic to replace it on the world organization’s primary human rights council.
- The Czech Republic was the only contender for a seat on the Human Rights Council, which has 47 members.
- A successor for Russia has to come from an East European country because seats on the Geneva-based council are divided among regional groups.
BANKING & FINANCE
Bharti Axa Life Initiates Financial Literacy Campaign – Inspihe
Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s largest business groups, and AXA, one of the world’s largest insurance companies, announced the launch of its financial literacy campaign, ‘InspiHE₹– enabling an empowered future, a special effort to propagate financial awareness among women as well as allow people to make good investment decisions for a stable future.
- The ‘InspiHE₹’ campaign will begin with on-the-ground teaching sessions for a group of Mumbai moms and will be disseminated through social media channels to generate interest. The corporation hopes to involve women, particularly moms, and their families with this campaign.
Worldline India partners Bank of India to digitise e-challan collections
Worldline, a payment services firm, has partnered with Bank of India to digitise e-challan collections for Madhya Pradesh police department.
- A Memorandum of Association was signed between BOI and the police department to integrate Point of Sale (POS) terminals with e-challan portal of police department on 10 May, 2022.
Rbi Extends Period Of Restriction On 2 Co-operative Banks
The Reserve Bank of India (RBI), said it has extended the period of restriction on two co-operative banks due to their deteriorating financial condition.
- The RBI has extended the period of restrictions on Solapur-based The Laxmi Co-operative Bank for three months from May 12 to August 11.
- That apart, the central bank has also extended the period of restriction on Bengaluru-based Sri Guru Raghavendra Sahakara Bank Niyamitha for a period of six months from May 11, 2022, to November 10, 2022, subject to review.
SEBI grants recognition to NSDL Database Management as accreditation agency for 3 yrs
NSDL announced its wholly-owned subsidiary – NSDL Database Management Limited (NDML), has received Securities & Exchange Board of India (SEBI)’s approval to set up an Accreditation Agency for a period of 3 years starting from May 10, 2022 for accreditation of eligible investors.
- SEBI had earlier in August 2021, introduced a framework for ‘Accredited Investors’ (AIs) in the securities market.
- Under this framework, accredited investors may avail flexibility in minimum investment amount (lower ticket size) or concessions from specific regulatory requirements applicable to investment products. Investors desirous of being reckoned as accredited Investors should approach an accreditation Agency for accreditation.
ICICI Bank ties up with Santander for India-UK business ease
One of India’s leading private sector banks, ICICI Bank, announced a tie-up with Santander bank in Britain in a pact aimed at facilitating the banking requirements of corporates operating across both countries.
- The memorandum of understanding (MoU) between ICICI and Santander UK Plc, signed in Mumbai, is designed to establish a framework of partnership between the banks to meet the financial service requirements of corporate customers operating within the India-UK corridor.
BUSINESS & ECONOMY
Boeing inks pact with Air India Engineering Services for maintenance of naval, VIP aircraft-Business Journal
AI Engineering Services Ltd (AIESL) entered into an MoU with Boeing for maintenance of its critical equipment on key defence platforms used by the Navy and VVIP aircrafts operated by the Indian Air Force (IAF).
- The collaboration between Boeing and Air Works has enabled faster turnarounds and enhanced operational capability within India for key defence platforms.
- The partnership began with checks on the P-8I Poseidon aircraft, and has grown to include checks and MRO on the landing gear of the Indian Air Force’s Boeing 737 VVIP aircraft.
Indian Oil, BPCL, HPCL sign tripartite deal for ethanol plants
State-run oil marketing companies (OMCs) – Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) – have entered into a long-term purchase agreement for upcoming dedicated ethanol plants across India, the Ministry of Petroleum & Natural Gas said.
- The first set of tripartite was signed among OMCs, project proponents, and banks of the respective ethanol plant projects.
- State Bank of India, Indian Overseas Bank, and Indian Bank are three banks that are involved in this tripartite agreement with OMCs and project proponents. The agreement is designed to ensure that payment received by ethanol plants is utilised for servicing the finance extended by these banks.
India’s Jyothi Yarraji smashes national record to clinch gold medal in 100m hurdles in Cyprus meet
In Cyprus International Athletics Meeting 2022, India’s Jyothi Yarraji smashed the national record to clinch a gold medal in the women’s 100m hurdles in Limassol.
- 22-year-old Jyothi clocked 13.23 seconds for the top step of the podium, shattering the 20-year-old national record held by Anuradha Biswal since 2002. With this, Jyothi also breached the Asian Games 2022 qualifying standards of 13.30 seconds.
- Another Indian athlete Lili Das won gold in the women’s 1500 meter race. While in the men’s 200m, India’s Amlan Borgohain won bronze medal.
Bajaj Finserv’s Sanjiv Bajaj takes over as CII President
Bajaj Finserv Limited’s Chairman and Managing Director Sanjiv Bajaj has assumed the office of Confederation of Indian Industry,CII President for the year 2022-23.
- During a meeting, CII elected its new office-bearers and accordingly Chairman and CEO of Hero MotoCorp Limited Pawan Munjal, has taken over as CII President-Designate. Executive Vice Chairman of TVS Supply Chain Solutions R Dinesh has taken over as Vice President.
Indian GM Arjun Erigaisi finishes second in Tepe Sigeman chess tourney
Indian chess legend Viswanathan Anand would become the deputy president of the world chess federation (FIDE) if the incumbent Arkady Dvorkovich is re-elected as the president in the elections scheduled during the 44th chess Olympiad here in July-August this year.
- Anand, a five-time world champion, has been nominated by Dvorkovich as part of his team to fight the forthcoming elections.
President appoints Rajiv Kumar as Chief Election Commissioner
The President has appointed Rajiv Kumar as the Chief Election Commissioner in the Election Commission of India.
- Rajiv Kumar will assume the charge of office of the Chief Election Commissioner with effect from 15th of May.
- Sushil Chandra will demit the Office of the Chief Election Commissioner on 14th of this month.
Ranil Wickremesinghe takes over as Prime Minister of Sri Lanka
Ranil Wickremesinghe has taken over as Prime Minister of Sri Lanka. President Gotabaya Rajapaksa administrated his oath to the United National Party leader at a ceremony held in the President’s office in Colombo.
- The President’s brother Mahinda Rajapaksa resigned as the Prime Minister following violent attacks by supporters on peaceful anti-government protesters.
- His resignation automatically dissolved the Cabinet leaving an administrative vacuum. Mr. Wickremesinghe has been reappointed in an effort to bring stability to the island nation, engulfed in a political and economic crisis.
B.V. Doshi conferred with Royal Gold Medal 2022
Noted architect Balkrishna Vithaldas Doshi, 94, has been conferred with prestigious Royal Gold Medal 2022, which is considered as the world’s highest honours for architecture.
- Given in recognition of a lifetime’s work, the Royal Gold Medal is approved personally by Queen Elizabeth and is given to people who have had a significant influence on the advancement of architecture.
- Noted architect Balkrishna Vithaldas Doshi, 94, has been conferred with prestigious Royal Gold Medal 2022, which is considered as the world’s highest honours for architecture.
Sanskrit and Hindi Scholar Dr. Rama Kant Shukla passes away
Renowned Sanskrit scholar Dr. Ramakant Shukta passed away.
- The Government of India honored him with Padma Shri in the year 2013, for his contributions to the fields of literature.
- The Government of India honored him with Padma Shri in the year 2015.
Leonid Kravchuk, independent Ukraine’s 1st president, passes away
Leonid Kravchuk, a former communist who helped sign the Soviet Union’s death warrant and then served as the first president of independent Ukraine, passed away at the age of 88.
- Kravchuk was known as the “wily fox” as he rose through the ranks of Ukraine’s Communist Party and take over as head of the parliament in 1990.
- He signed the Belovezha accords with Russian President Boris Yeltsin and Belarusian leader Stanislav Shushkevich in December 1991 which effectively triggered the Soviet Union’s collapse.
Sanskrit Grammarian, Prof Bhagirath Prasad Tripathi passes away
Noted Sanskrit grammarian, spiritual master and author Padma Shri Prof Bhagirath Prasad Tripathi, popularly known as Vagish Shastri, passed away after a prolonged illness. He was 88.
- Prof Shastri’s disciples and followers can be found across the world and he taught pop icon Madonna how to pronounce Sanskrit hymns when she needed them for her album ‘Ray of Light’ 24 years ago.
- In 2018, Government of India awarded him the Padma Shri for his work in the field of literature & education.
BOOKS & AUTHORS
VP Venkaiah Naidu releases ‘Modi @20: Dreams Meeting Delivery’ book
Vice President M Venkaiah Naidu released the book “Modi@20 Dreams Meet Delivery” in New Delhi.
- ‘Modi@20’ is an anthology edited and compiled by BlueKraft Digital Foundation, and is a compilation of chapters authored by eminent intellectuals and domain experts, Rupa Publications.
- The book presents different facets of the distinct thought process, the pioneering, pro-active approach and the quintessential, transformational leadership style that Narendrabhai Modi has come to be so closely identified with.