Daily Current Affairs 15 May 2022 for Banking/Insurance/SSC and other related exams.
Madhya Pradesh Startup Policy launched by Prime Minister Modi
Prime Minister Narendra Modi launched the Madhya Pradesh Startup Policy and addressed the startup community during the Madhya Pradesh Startup Conclave being held in Indore via video conferencing. The PM also launched the Madhya Pradesh Startup portal, which will facilitate and help promote the startup ecosystem.
- Madhya Pradesh has 1,937 start-ups recognised by the Union government and 45 per cent of them are run by women, the official said.
- The Madhya Pradesh Startup Conclave will witness participation of various pillars of the startup ecosystem including policy makers from government and private sector, innovators, entrepreneurs, academicians, investors, mentors and other stakeholders.
Chhattisgarh first state to restore old pension scheme
Chhattisgarh has become the first state to notify restoration of old pension scheme (OPS) to provide assured income to retired employees.
- The state has also sent a detailed proposal to Pension Fund Regulatory and Development Authority (PFRDA) to withdraw ‘17,000 crore accrued under the market-driven National Pension System (NPS) since November 2004.
- Also, the 10 per cent deduction for monthly contribution from the salary of government employees as a contribution to the new pension scheme will be abolished from April 1, 2022. However, a minimum of 12 per cent of basic salary will be deducted as per the General Provident Fund rule.
World’s longest suspended footbridge opens in Czech Republic
The world’s largest suspension bridge in Czech Republic has opened for tourists and its pictures are going viral on social media.
- The bridge, which was under construction for nearly two years, was officially thrown open. It has been named ‘Sky Bridge 721’.
- The walkway promises spectacular sights of the cloud-shrouded Jesenky mountains, as well as an exciting, but slightly terrifying experience.
Good hand hygiene can prevent 70% infections: WHO report
If good hand hygiene and other cost-effective practices are followed, 70 per cent of the infections can be prevented, showed a World Health Organization (WHO) report released.
- The report showed that out of every 100 patients in acute-care hospitals, seven patients in high-income countries and 15 patients in low- and middle-income countries will acquire at least one health care-associated infection (HAI) during their hospital stay. On average, 1 in every 10 affected patients will die from their HAI.
- People in intensive care and newborns are particularly at risk. And the report reveals that approximately one in four hospital-treated sepsis cases and almost half of all cases of sepsis with organ dysfunction treated in adult intensive-care units are health care-associated.
BANKING & FINANCE
India contributes USD 800K to expand use of Hindi at UN
India has contributed USD 800,000 towards efforts to continue to expand the use of Hindi in the United Nations.
- India has contributed USD 800,000 towards efforts to continue to expand the use of Hindi in the United Nations.
- As part of these efforts, ‘Hindi @ UN’ project, in collaboration with the UN Department of Public Information, was launched in 2018 with an objective to enhance the public outreach of the United Nations in Hindi language, and to spread greater awareness about global issues among millions of Hindi-speaking people around the world.
Exim Bank enters into an agreement with the SBM (Mauritius) to provide an additional LoC of USD 190 million
Exim Bank has entered into an agreement with the SBM (Mauritius) Infrastructure Development Company Ltd (SBMIDCL) to provide a supported Line of Credit (LoC) of USD 190 million.
- The agreement has been entered for the purpose of financing its participation through Redeemable Preference Shares in public sector entities for implementing the ongoing Metro Express Project and other infrastructure projects in Mauritius.
Union Bank launches online platform ‘Trade nxt’ for export-import transactions
The Union Bank of India (UBI) has launched an online platform, ‘Trade nxt’, which enables corporate, and MSMEs (Micro, Small & Medium Enterprises) to transact all cross-border export-import transactions from the comfort of their place, i.e. eliminates the need for companies to visit a bank branch for the same.
- It offers seamless entry and processing of letters of credit (LC), bank guarantees, export/import bills, disbursement of export credit, outward & inward remittances, dealer financing etc.
BUSINESS & ECONOMY
MoU signed between MoRD and Amazon for online marketing of SHG products
An MoU between the Ministry of Rural Improvement and Amazon Vendor Providers (Amazon) was signed at Krishi Bhawan.
- It’s envisaged that this alliance will allow SHG entrepreneurs underneath NRLM to supply their merchandise to consumers throughout India by way of AmazonSaheli Storefront and assist SHG ladies obtain good value for his or her assorted merchandise.
- To further facilitate the marketing of SHGs products, NRLM is creating alliance with Amazon Saheliand both the entities signed a non-Financial MoU to offer SHG women the Storefront of Amazon Saheli. This will open new platform for making SHG products available to all Indian buyers at Amazon.
Toyota plans to invest $624 million to make EV parts in India
Toyota Group plans to invest 48 billion rupees ($624 million) to make electric vehicle components in India, as the Japanese carmaker works toward carbon neutrality by 2050.
- Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts signed a memorandum of understanding with the southern state of Karnataka to invest 41 billion rupees, the group said. The rest will come from Toyota Industries Engine India.
OMC Power, IREDA to build rural renewable energy ecosystem
OMC Power recently announced a long-term relationship agreement with the Indian Renewable Energy Dev Agency Ltd. (IREDA) that will work towards building a Rural renewable energy ecosystem.
- OMC Power plans to expand its footprint to 1000 sites to drastically reduce the Carbon footprint in rural India.
- The role of renewable energy is pivotal in the fight against climate change and seamlessly catering to the energy needs of tomorrow. The energy sector needs collaborative measures to exacerbate the perils of global warming.
INCOIS signs MoU with Indian Navy
Indian National Centre for Ocean Information Services (INCOIS), Hyderabad, has signed a memorandum of understanding with the Navy to provide training services and support to the School of Naval Oceanology and Meteorology (SNOM) for conduct of various courses related to operational oceanography.
- Indian National Centre for Ocean Information Services (INCOIS), Hyderabad, has signed a memorandum of understanding with the Navy to provide training services and support to the School of Naval Oceanology and Meteorology (SNOM) for conduct of various courses related to operational oceanography.
Morgan Stanley lowers India’s FY23 growth forecast to 7.6%
Morgan Stanley pared India’s growth forecast for FY23 to 7.6 per cent from 7.9 per cent, estimated earlier. It said that a slowdown in global growth, higher commodity prices and risk aversion in global capital markets expose Asia’s third-largest economy to downside risks.
- For FY24, the investment bank lowered its growth forecast to 6.7 per cent from 7 per cent estimated earlier.
- The investment bank has projected global growth at 2.9 per cent in calendar year 2022, less than half of the 6.2 per cent growth in 2021. Morgan Stanley said China’s growth may reach merely 4.2 per cent in 2022, about half the pace of last year.
ACQUISITIONS & MERGERS
Swiggy to acquire Dineout for Undisclosed Amount
On-demand convenience platform Swiggy said it has entered into a definitive agreement with Times Internet to acquire dining out and restaurant tech platform Dineout for an undisclosed sum.
- Dineout, which serves diners across its network of 50,000 restaurants in 20 cities, will continue to operate as an independent app post the acquisition, Swiggy said.
Inter Milan Beat Juventus to win Italian Cup 2022
Inter Milan defeated Juventus 4-2 after extra time in the Italian Cup final. Ivan Perisic scored twice in extra time after Hakan Çalhanoglu had converted a controversial late penalty.
- Nicolò Barella scored the other goal for Inter. The Italian Cup final soccer match between Juventus and Inter Milan was held at the Stadio Olimpico in Rome, Italy.
- Inter Milan defeated Juventus 4-2 after extra time in the Italian Cup final. Ivan Perisic scored twice in extra time after Hakan Çalhanoglu had converted a controversial late penalty. Nicolò Barella scored the other goal for Inter. The Italian Cup final soccer match between Juventus and Inter Milan was held at the Stadio Olimpico in Rome, Italy.
ISSF Junior World Cup: Esha Singh, Saurabh Chaudhary Win Mixed Team Pistol Gold
India’s 10M Air Pistol Mixed Team combinations extended their dominance in the Pistol disciplines, as Esha Singh and Saurabh Chaudhary claimed gold and Palak and Sarabjot Singh silver at the ISSF Junior World Cup in Suhl, Germany.
- Ramita and Paarth Makhija also won silver in the 10M Air Rifle Mixed Team competition, going down 13-17 to the Polish pair of Julia Piotrowska and Wiktor Sajdak, making it three on the day and a total of 10 medals so far, including four gold.
Sheikh Mohamed bin Zayed elected President of the UAE
The Supreme Council of the United Arab Emirates elected Sheikh Mohamed bin Zayed Al Nahyan as the President of the country.
- He has replaced Sheikh Khalifa Bin Zayed Al Nahyan, who died at the age of 73.
- Mohammed bin Zayed (MbZ), the former president’s half-brother, has been the de facto ruler of the UAE for years now, particularly after Khalifa suffered a stroke in 2014.
Tata Group appoints Campbell Wilson as CEO & MD of Air India
The Tata Group has appointed Campbell Wilson, the CEO of Singapore Airlines’ wholly-owned low-cost subsidiary Scoot, as Air India’s new Chief Executive Officer (CEO) and Managing Director (MD).
- Wilson is the Tata Group’s second attempt at hiring a CEO-MD for Air India, as the previous CEO-designate, former Turkish Airlines chairman Ilker Ayci, declined to take up the position citing “attempts” to paint his appointment “with undesirable colours”.
Biplab Deb resigns as Tripura Chief Minister, Manik Saha replaces him
Tripura Chief Minister Biplab Kumar Deb stepped down from his position after meeting Bharatiya Janata Party (BJP) president J.P. Nadda and Union Home Minister Amit Shah during a two-day trip to New Delhi.
- Mr. Deb made the announcement after submitting his resignation to Governor S.N. Arya at the Raj Bhavan in Agartala. The State is slated to go to Assembly elections in 2023.
- Mr. Deb has now become the fifth Chief Minister to be replaced in a BJP-ruled State after B.S. Yeddyurappa in Karnataka, Trivendra Singh Rawat and Tirath Singh Rawat in Uttarakhand, and Vijay Rupani in Gujarat.
Lionel Messi, LeBron James top Forbes 2022 Highest-Paid Athletes list
Lionel Messi has topped the list of Forbes Highest-Paid Athletes 2022 with a reported income of $130 million, followed by Basketball player, Lebron James with $121.2 million while Cristiano Ronaldo was third with $115 million.
- Messi had moved from Barcelona to Paris Saint-Germain in August 2021 and Cristiano Ronaldo rejoined Manchester United from Juventus in the same month. Forbes calculates the estimates based on prize money, salaries and bonuses, and sponsorship deals.
SCIENCE & TECHNOLOGY
NASA launches mission to explore why Earth supports life and other planets don’t
A sounding rocket carrying NASA’s Endurance mission launched to investigate Earth’s life-supporting secret – why does our planet support life, when other planets like Venus and Mars don’t? The rocket launched from Ny-Ålesund in Svalbard, Norway.
- According to NASA, the Endurance mission will attempt to measure Earth’s global electric potential – how much Earth’s electric field “tugs” at electrically charged particles in our air? This electric potential is expected to be very weak, making it difficult to measure – and one reason Earth can support life.
- The mission will measure electrons escaping from Earth’s atmosphere. These electrons escape Earth at a specific, predictable speed, but they should be slowed ever so slightly by Earth’s global electric potential.