Daily Current Affairs 14 June 2022 for Banking/Insurance/SSC and other related exams.
Union Cabinet approves proposal for signing of an agreement between India and UN on a ‘Way Finding Application’
Union Cabinet has approved the proposal for the signing of an agreement between India and the United Nations on a ‘Way Finding Application’ to be used in the Palais des Nations, United Nations Office at Geneva.
- The project of development of ‘Way Finding Application’ has been conceptualized as a donation from India to the UN on the occasion of its 75th anniversary in 2020. The estimated financial implication for the development deployment and maintenance of the App is two million dollars.
- Keeping in view the complexity of buildings and huge participation, there was a requirement of a navigational application that can help the visitors and other delegates in finding their way inside the premises while adhering to all security perspectives. The GPS-based Apps will assist the visitors in locating the room and offices.
Centre clears AGNIPATH Scheme to recruit youth in Armed Forces for a period of four years
The Centre cleared the AGNIPATH Scheme for recruitment of youth in the Armed Forces. Briefing media in New Delhi with three Serivce Chiefs, Defence Minister Rajnath Singh said, the youth selected under this scheme will be known as Agniveers.
- He said, the Agniveers will be getting attractive monthly package with Risk and Hardship allowances as applicable in the three services. Mr Singh said Agniveers will be also paid one-time Seva Nidhi package upon completion of engagement period of four years.
- The AGNIPATH Scheme cleared by Cabinet Committee allows patriotic and motivated youth to serve in the Armed Forces for a period of four years.
- Over forty six thousand Agniveers to be recruited this year. This is a major defence policy reform introduced by the Government to usher in a new era in the Human Resource policy of the three services.
Railways Minister Ashwini Vaishnaw launches “Start-Ups for Railways” in New Delhi
Railways Minister Ashwini Vaishnaw has launched “Start-Ups for Railways” in New Delhi. This Start-Ups policy aims to leverage innovative technologies developed by Indian Startups, MSMEs, Innovators and Entrepreneurs to improve operational efficiency and safety of Indian Railways.
- The policy which is part Indian Railways Innovation Programme, will bring scale and efficiency in the field of operation, maintenance and infrastructure creation through participation of very large and untapped startup ecosystem.
Union MoS Dr Bharati Pravin Pawar launches Intensified Diarrhoea Control Fortnight
Minister of State for Health and Family Welfare, Dr Bharati Pravin Pawar in New Delhi launched the Intensified Diarrhoea Control Fortnight, IDCF-2022 with an aim to attain zero child deaths due to childhood diarrhoea.
- Speaking on the occasion, the Minister said that multi-sectoral participation at various governance levels like mass awareness generation, rallies, and competitions in schools will be beneficial in achieving this target.
- She said, according to the latest report of SRS-2019, the child mortality rate in the country has come down considerably since 2014.
FM Nirmala Sitharaman dedicates to nation Dharohar – National Museum of Customs and GST in Goa
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman dedicated to the nation, Dharohar – the National Museum of Customs and GST in Panaji Goa.
- The dedication ceremony, which is part of Azadi Ka Amrit Mahotsav Iconic week of the Ministry of Finance, was performed in a unique manner. The Finance Minister removed the golden sand from single rock art installed at the centuries-old heritage building in which the museum is housed.
- The two-storey ‘Blue building’, which was earlier known as Alfandega, during the period of Portuguese rule in Goa, has been standing on the banks of the Mandovi River in Panaji for more than 400 years.
Govt launched Pradhan Mantri Aadi Adarsh Gram Yojana for faster development of tribal villages: Union Minister Arjun Munda
Union Minister of Tribal Affairs Arjun Munda has said that the government has started a scheme, ” Pradhan Mantri Aadi Adarsh Gram Yojana” for faster development of tribal villages.
- The Minister said that the focus of the scheme is on converging different programs of 41 ministries in the tribal villages to ensure their all round development.
Cabinet approves Agreement on Cooperation in field of youth work among authorized bodies of SCO members
The Cabinet was apprised of the Agreement signed among the Shanghai Cooperation Organisation, SCO, member states on cooperation in the field of youth work among the authorized bodies of the member states of SCO.
- The objective of the agreement is to strengthen mutual trust, friendly relations, and cooperation among young people of SCO member States.
- Recognizing the importance of ensuring the development of youth cooperation as an element of deepening friendly relations among the SCO Member States. Seeking to further improve the conditions for youth cooperation based on international experience.
DBT, Gates Foundation renew pact to speed innovation for global health
Department of Biotechnology (DBT) and the Bill and Melinda Gates Foundation have renewed the Memorandum of Understanding (MoU), originally signed in 2012, to support innovative approaches for developing new preventions, therapies and interventions needed to solve health (human and animal), food and nutritional inequities.
- DBT and the Gates Foundation had in 2012 signed a Memorandum of Understanding (MoU) on cooperation in the field of health and development for five years, which was further renewed for 5 years till July 17, 2022.
- Under this joint partnership, in the last 10 years, programmes in diverse areas under maternal and child health, nutrition, sanitation, infectious disease, data science approaches have been undertaken.
PM inaugurates Jagatguru Sreesant Tukaram Maharaj Shila Mandir at Dehu in Pune
Prime Minister Narendra Modi inaugurated a ‘shila’ (rock) temple at the existing Sant Tukaram Maharaj Mandir in Maharashtra’s Dehu, dedicated to the 17th-century seer.
- Sant Tukaram was born in Dehu and is renowned for his devotional poetry known as ‘Abhangas’, and community worship with spiritual recitations known as ‘kirtans’.
- The ‘Palkhi Marg’, which has been given the status of National Highway, will have dedicated lanes for the ‘warkaris’. The prime minister also announced the upgradation of the highways approaching the temple town from all directs, at a cost of ₹1,180 crore.
Piyush Goyal leads Indian delegation at 12th WTO Ministerial Conference in Geneva
On the sidelines of the twelfth WTO Ministerial Conference (MC12), Union Commerce and Industry Minister Piyush Goyal met with the MC12 Chair Timur Suleimenov in Geneva, Switzerland.
- The key areas of discussions and negotiations at this year’s conference include WTO’s response to the pandemic, Fisheries subsidies negotiations, Agriculture issues including Public Stockholding for Food Security, WTO Reforms and Moratorium on Customs Duties on Electronic Transmission.
- India has a vital stake in protecting the interests of all stakeholders in the country as well as the interests of the developing and poor nations that look up to the leadership of India at multilateral forums including WTO.
BANKING & FINANCE
RBI ups limits on housing loans from co-op banks, backs affordable housing
The Reserve Bank of India doubled the limit on housing loans from cooperative banks and also permitted Rural Cooperative Banks (RCB) to finance residential real estate projects to support affordable housing and inclusive growth.
- The limits for tier-I/ tier-II UCBs stand revised from Rs 0.30 crore to Rs 0.60 crore and Rs 0.70 crore to Rs 1.40 crore, respectively.
- As regards rural co-operative banks, the limits stand revised from Rs 20 lakh to Rs 50 lakh for RCBs with assessed net worth less than Rs 100 crore and for other RCBs, the limits would increase from Rs 0.30 crore to Rs 0.75 crore. RBI will communicate detailed norms separately.
BUSINESS & ECONOMY
CCEA approves moratorium to Cochin Port Authority on repayment of Central government loans
The Cabinet Committee on Economic Affairs has approved a moratorium to Cochin Port Authority on repayment of Central government loans amounting to over 446 crore rupees for a period of three years.The moratorium has been approved for 2020-21, 2021-22 and 2022-23.
- The amount was to be repaid in ten instalments commencing from 2018-19. However, Cochin Port Authority could pay the instalments of 2018-19 and 2019-20 only. From 2020-21, the traffic was badly impacted due to the Covid-19 pandemic which adversely impacted the cash inflow. As a result, Cochin Port could not pay the instalments of 2020-21 and 2021-22.
Union Civil Aviation Minister awards first Type Certificate under Drone Rules to IoTech World Avigation Private Ltd
Union Civil Aviation Minister Jyotiraditya Scindia awarded the first Type Certificate under Drone Rules to IoTech World Avigation Private Limited in New Delhi. This company is one of India’s leading manufacturers of Kisan drones.
- On this occasion, Mr. Scindia said, India has set a target to become a drone hub by 2030 and issuing of Type Certificate in record 34 days is a step in that direction. He said, this is an example of Minimum Government and Maximum Governance.
- The Drone Certification Scheme will create an eco-system for manufacturing of world class drones in India. There are 14 drone prototypes that are currently undergoing the certification tests. The number of Type Certified prototypes may exceed the figure of 100 over the next three years.
ACQUISITIONS & MERGERS
Tencent buys stake worth USD 264 million in Flipkart
Tencent, a Chinese technology conglomerate, has bought a stake worth USD 264 million (approx. Rs2,060 crore) in Flipkart. Tencent has bought this stake from Flipkart’s co-founder Binny Bansal via its European subsidiary.
- After selling her stake in Flipkart, Bansal now holds only 1.84% stake in the company.
- Post completion of this transaction, Tencent’s European arm holds a 0.72% stake in Flipkart, valued at around USD 264 million.
Praggnanandhaa wins title at Norway chess open
Young Indian Grandmaster R Praggnanandhaa emerged winner at the Norway Chess Group A open chess tournament with 7.5 points from nine rounds.
- The 16-year old GM, the top-seed, was in fine form and remained unbeaten through the nine rounds. He finished the tournament with a win over fellow Indian V Praneeth, an International Master.
- Praggnanandhaa (Elo 2642) finished a full point ahead of second-placed IM Marsel Efroimski (Israel) and IM Jung Min Seo (Sweden).
Rahul Srivatshav becomes India’s 74th Grandmaster
Rahul Srivatshav Peddi of Telangana became India’s 74th Grandmaster, achieving the title after breaking the 2500 (Elo points) barrier in live FIDE ratings during the 9th Cattolica Chess Festival 2022 in Italy.
- The 19-year-old reached the 2500 Elo live rating mark after drawing his eighth round game against Grandmaster Levan Pantsulaia in the Cattolica event.His current Elo rating is 2468.
- Rahul had already secured five GM norms and achieved the title when he crossed the rating threshold of 2500.
R Subramaniakumar to join as MD & CEO of RBL Bank from June 24
Banking sector veteran R Subramaniakumar, with over 40 years of experience, will take charge of private sector RBL Bank from June 24, replacing the interim MD & CEO Rajeev Ahuja.
- Ahuja took charge as the interim MD & CEO of the bank after the sudden ouster of the then chief Vishwavir Ahuja in late December 2021, who was sent on leave with immediate effect.
Maharashtra Governor presents Honorary Doctor of Literature to industrialist Ratan Tata
Industrialist and philanthropist Ratan Tata was presented with Honorary Doctor of Literature by Maharashtra Governor Bhagat Singh Koshyari at Raj Bhavan Mumbai. The Honorary doctorate was presented to Mr. Ratan at the First Special Convocation of the HSNC University.
- The Governor said the honour for Ratan Tata is in effect the honor of the entire Tata family and Tata Group. He said, by accepting the Honorary doctorate from HSNC University, Ratan Tata has honoured the HSNC University.
Queen Elizabeth II becomes World’s Second-Longest Reigning Monarch
The head of the British royal family, Queen Elizabeth II, just became the second-longest reigning monarch in world history.
- Taking the throne on Feb. 6, 1952, the queen has ruled the realm for 70 years and 127 days.She just surpassed the lengthy reign of former Thai King Bhumibol Adulyadej, who ruled from 1946 until his death in 2016.
- French King Louis XIV remains in the top spot, having served as monarch for more than 72 years after taking the throne at age four and dying in 1715.
SCIENCE & TECHNOLOGY
Kerala CM inaugurates cancer research centre in Kochi
Kerala Chief Minister Pinarayi Vijayan inaugurated a cancer diagnostics and research centre in Kochi , which is slated to be the country’s first oncology laboratory for comprehensive cancer diagnostic services.
- Karkinos Healthcare’s advanced centre for cancer diagnostics and research will serve as a central lab for analysing specimens at molecular and genomic levels to aid in personalised targeted therapy, predicting possible response to treatment and evaluate response by liquid biopsy.