Daily Current Affairs 17 June 2022 for Banking/Insurance/SSC and other related exams.
Prime Minister Narendra Modi launched and unveiled various development projects in Bengaluru
Prime Minister Narendra Modi inaugurated and launched various development programmes during his two days visit to Bengaluru and Mysuru.
- He inaugurated the Brain Cell Research Centre established at a cost of 450 crore rupees donated by Kris Gopalakrishnan, the co-founder of Infosys. Mr.Modi also lay the foundation stone for an 850 bed Bagchi-Parthasarathy Research hospital at IISc being funded by MindTree IT company.
- He unveil the statue of Babsaheb Ambedkar at the BR Ambedkar school of Economics campus and officially dedicate the higher education institution to the nation. Following this, the Prime Minister will proceed to Mysuru to address a public gathering at Maharaja College Grounds. On June 21st Mr. Modi will take part in the International Day of Yoga to be held in front of the iconic Mysuru Palace.
Tamil Nadu CM MK Stalin launches Ennum Ezhuthum scheme to fill learning gap
As schools reopened after a month-long summer vacation, Chief Minister MK Stalin launched the Ennum Ezhuthum scheme to bridge the learning gap that was caused due to the COVID pandemic among students aged below eight.
- The scheme aims to ensure foundational literacy and numeracy by 2025. It was launched at an event in Azhinjivakkam panchayat union middle school, Tiruvallur,
- Under the programme, the education department will distribute workbooks to students from Classes 1 to 3 to assess and bridge the learning gap.
Railways flags off country’s first private train under Bharat Gaurav scheme
India’s first private train, the Bharat Gaurav Scheme, began its operation from the Coimbatore North Station in Tamil Nadu to Sainagar Shirdi in Maharashtra.
- Southern Railway becomes the first zone to get its first Registered service provider under the ‘Bharat Gaurav’ Scheme and begins operations of the first service from Coimbatore North to Sainagar.
- The private service is offered by the Registered Service provider for an itinerary consisting of five days and it involves a full round trip from Coimbatore to Shirdi and back.
BANKING & FINANCE
RBI doubles home loan limits of co-op banks
In a big boost to the home loan segment, 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 RBI allowed urban cooperative banks (UCBs) to provide doorstep banking services to meet the needs of customers, especially senior citizens and differently abled persons.
- The limits for tier-I and tier-II UCBs have been revised from Rs 30 lakh to Rs 60 lakh and Rs 70 lakh to Rs 1.40 crore, respectively. These limits were last revised for UCBs in 2011 and for RCBs in 2009.
- For rural co-operative banks, the limits have been 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 30 lakh to Rs 75 lakh.
Fino Payments Bank partners with Go Digit for shop insurance policy
Fino Payments Bank has announced a partnership with Go Digit General Insurance to offer shop insurance policy to small and medium businesses. Fino Payments Bank is associated with Go Digit as a corporate agent and it already offers motor and group health insurance in association with Digit Insurance.
- Digit’s My Business Policy will cover loss or damage to inventory or stock due to burglary, earthquake, fire, lightning, storm, flood, riots, among other factors. The policy will also include in-built coverages like money in safe, money in transit and the like. The policy will be valid for one year.
- As per the press release, Fino Payments Bank’s customers will be able to sign up for the policy at an annual premium of ₹550 (for a sum insured of ₹3 lakh), which will go up to ₹2,600 (for a sum insured of ₹15 lakh).
BUSINESS & ECONOMY
Google announces Startup Accelerator Program for women founders
Google announced a startup accelerator program for women founders which will help them address challenges such as fundraising and hiring.
- The inaugural batch of the ‘Google for Startups Accelerator – India Women Founders’ will accept up to 20 women-founded / co-founded startups in the country, and support them through a three-month program.
- The program will place special focus on areas like access to networks, capital, hiring challenges, mentorship, and other areas which, for a variety of social reasons and low representation, prove challenging for female founders.
Adani Transmission gets ‘green loan’ tag for $700 mn revolving facility
Adani Transmission Limited (ATL) said its USD 700 million revolving loan facility has been tagged as ‘green loan’ by Sustainalytics.
- Sustainalytics, a Morningstar Company, provides analytical environmental, social and governance (ESG) research, ratings and data to institutional investors and companies.
Start-up ecosystem: Kerala ranks top in Asia in global report
In a recognition to Kerala’s vibrant startup ecosystem, the State has been ranked first in Asia in Affordable Talent in Global Startup Ecosystem Report (GSER).
- The State is also ranked the fourth in the GSER global ranking, drawn up jointly by policy advisory and research organization Startup Genome and Global Entrepreneurship Network.
- The GSER was released in the backdrop of the ongoing London Tech Week 2022, which brings together global governments and corporate leaders, inspirational startup founders and investors to discuss the power of technology for societies.
Retail inflation for May matches estimates at 7.04%
India’s headline retail inflation rate eased to 7.04 percent in May from April’s near-eight-year high of 7.79 percent thanks to a favourable base effect, according to data released by the Ministry of Statistics and Programme Implementation.
- The fall in inflation in May is unlikely to do much to slow down the Reserve Bank of India’s (RBI) rate hike cycle. The Consumer Price Index (CPI) based inflation was 7.79 per cent in April. In May 2021, the retail inflation stood at 6.3 per cent.
- Meanwhile, a rise in price across all items from fuel to vegetables and cooking oil pushed WPI or Wholesale Price Inflation to a record high of 15.08 per cent in April and retail inflation to a near eight-year high of 7.79 per cent.
Sri Lanka’s Angelo Mathews, Pakistan’s Tuba Hassan named ICC Players of the Month for May
Sri Lanka’s Angelo Mathews and Pakistan’s debutante spin sensation Tuba Hassan were voted the ICC’s ‘Player of the Month’ for May in their respective categories.
- Mathews was selected the stand-out male player after piling on runs over the course of his side’s impressive ICC World Test Championship series victory against Bangladesh.
- Mathews becomes the first Sri Lankan player to be named the Player of the Month since its inception in January 2021, scooping the award ahead of fellow nominees Asitha Fernando (Sri Lanka), and Mushfiqur Rahim (Bangladesh).
- On the other hand, Hassan was awarded the to honour after enjoying significant success with the ball during her debut international series.
B S Patil sworn in as Lokayukta of Karnataka
Former Karnataka High Court judge Bhimanagouda Sanganagouda Patil was sworn in as the Lokayukta of Karnataka.
- Justice Patil, who served as the Upalokayukta of Karnataka, was elevated to the post of Lokayukta on June 14.
- The post of the head of the anti-corruption ombudsman in Karnataka was vacant after the end of the tenure of Justice P. Vishwanath Shetty in January 2022, who served in the post for five years.
COAI names Reliance Jio’s Pramod Mittal as Chairperson for 2022-23
Industry body COAI named Pramod K Mittal, President of Reliance Jio Infocomm, as the new Chairperson of the association for 2022-23.
- Mittal was previously the Vice Chairperson of the Cellular Operators’ Association of India (COAI), whose members include Reliance Jio, Bharti Airtel and Vodafone Idea (VIL).
- Mittal will replace Ajai Puri as the COAI Chairperson. Puri held the position for the two consecutive terms.
SCIENCE & TECHNOLOGY
India will get 5G services by March 2023: Union Minister Ashwini Vaishnaw
India will get a full-fledged 5G services by March 2023, said Union Communications Minister Ashwini Vaishnaw at Viva Technology 2022 event.
- Vaishnaw said that the auction of the 5G spectrum will be completed by July end, adding, “Telecom is the primary source of digital consumption and it is very important to bring trusted solution in telecom.India has its own stack of 4G like radio, equipment and handset. 4G is ready to deploy in the field and 5G is ready in the lab, and 5G will be ready to deploy in March 2023.
Karnataka govt launched ‘FRUITS’ software for farmer schemes
The Karnataka State Govt has launched ‘The Farmer Registration & Unified Beneficiary Information System’ or FRUITS software for Aadhar-based, single-window registration for the schemes.
- FRUITS software aims to facilitate single registration with the help of Aadhar card and Karnataka’s Bhoomi digitized land record system for authenticating ownership.
- The state farmers will be able to access benefits of hosts of schemes such as Direct Benefit Transfer under PM Kisan, payment for Minimum Support Prices (MSPs) for crops, special financial assistance, caste certificate authentication and ration cards through the creation of single digital identification through FRUITS.
Mumbai’s CSMIA launches first-of-its-kind Vertical Axis Wind Turbine & Solar PV system
Mumbai International Airport, Chhatrapati Shivaji Maharaj International Airport (CSMIA) has become India’s first airport to launch a one-of-its-kind Vertical Axis Wind Turbine (VAWT) & Solar PV hybrid (Solar Mill) to explore the possibility of utilization of wind energy at the airport.
- The CSMIA has introduced this pilot program in collaboration with WindStream Energy Technologies India Pvt Ltd, which ensures 24/7 energy generation, harnessing maximum energy through wind power systems, while enabling a highly efficient and low carbon future for aviation.
- This sustainable initiative undertaken by CSMIA reduces dependence on conventional electricity which propels its journey towards ‘Net Zero’ emissions.
Long distance running legend Hari Chand passes away
Two-time Olympian and double Asian Games gold medallist, Hari Chand passed away at the age of 69.
- In the 1976 Summer Olympics in Montreal, Hari Chand stood eighth in the 10,000 m with a time of 28:48.72, a national record that stood for 32 years, until Surendra Singh broke it.
- He then took part in the 1980 Olympic Men’s Marathon where he completed the race with a timing of 2:22:08 at Lenin Stadium in Moscow.
Asia’s ‘longest-tusked’ elephant Bhogeshwara dies of natural causes
Bhogeshwara the elephant with arguably the longest tusks, a rarity in Asiatic elephants, has died.
- The wild elephant, also known as Mr Kabini, was found dead in the Gundre range of Karnataka’s Bandipur Tiger Reserve.
- According to forest department officials, Bhogeshwar’s tusks were 2.54 meters and 2.34 meters long.