Daily Current Affairs 19 March 2022 for Banking/Insurance/SSC and other related exams.
Visakhapatnam railway station to implement Centre’s ‘One Station, One Product’
In a first, Visakhapatnam railway station will be implementing the ‘One Nation, One Product’ concept, the Railway Board informed.
- It will become the first station in the East Coast railway to implement the concept. It would be running on a pilot basis for 15 days.
- The railway station will allot a stall where the local product, distinct to the particular area will be sold. The Railway Board has advised identifying one station on each zonal railway for the implementation of the concept.
First in country, Telangana moves to index its crops
After the paddy procurement row with the Centre and the state government urging farmers to opt for alternate crops, Telangana has, for the first time in the country, began recording crop diversification patterns in the form of an index.
- The state grows 77 varieties, according to the crop diversification index, with about 10 crops, mostly grains, preferred for diversification. Nirmal, Vikarabad and Sangareddy are more diverse in the state.
- It has also been discovered that the three least diverse areas were Peddapalli, Karimnagar, and Suryapet. Interestingly, in these districts, where paddy cultivation is prevalent, maize cropping area has decreased significantly, while cotton increased.
- The index has a base value of one. It denotes the percentage of total cropped area devoted to a single crop. Many districts in the state have index values ranging between 0 and 5, and the higher the value, the greater the crop diversification.
ILO and ICAO sign agreement to strengthen aviation industry
The International Labour Organization (ILO) and the International Civil Aviation Organization (ICAO) have signed a new agreement to advance decent work and encourage a human-centred recovery from the COVID-19 pandemic in the aviation industry.
- It follows a request made by ILO constituents during the 2013 Global Dialogue Forum on the Effects of the Global Economic Crisis on the Civil Aviation Industry to revamp cooperation between the two agencies.
- This agreement will help to achieve the 2030 Agenda for Sustainable Development targets, especially the promotion of women in aviation, data collection and decent and sustainable work in the sector.
BANKING & FINANCE
IIT Madras Incubation Cell inks deal with RBI’s Innovation Hub
IIT Madras Incubation Cell (IITMIC) and RBI Innovation Hub (RBIH), a wholly owned subsidiary of the Reserve Bank of India (RBI), have signed a memorandum of understanding to develop the ecosystem required necessary to support and scale fintech start-ups in India.
- The two organisations will jointly provide incubation support and nurture early-stage start-ups with innovative and disruptive solutions.
- Through this collaboration, the two organizations will jointly provide incubation support and nurture early-stage fintech startups.
Max Life Insurance launches smart guaranteed pension plan
Max Life Insurance Company Ltd. has announced the launch of the ‘Max Life Smart Guaranteed Pension Plan’, a non-linked, non-participating single premium individual/group general annuity plan.
- The new product offering will guarantee the annuitant a regular income stream, ensuring their future financial security.
- The product combines the strength of financial protection, assured pension, and reliability into a single solution allowing customers to realize their life goals post-retirement.
SBI to set up Innovation, Incubation and Acceleration Centre in Hyderabad
State Bank of India (SBI) plans to set up an Innovation, Incubation and Acceleration Centre (IIAC) at Hyderabad in a bid to build in-house capability to bolster its current performance and drive higher top-line growth through innovation.
- The centre will be operational in six to nine months of on-boarding a consultant.
Mahila Money and Visa team up to support women entrepreneurs with Mahila Money Prepaid Card
Mahila Money, Visa and Transcorp have teamed up to launch the Mahila Money Prepaid Card, a product created for women entrepreneurs to use digital payments more effectively.
- The partnership leverages the deep expertise of Visa, the global leader in payments, Transcorp PPI, and the highly engaged community of Mahila Money.
- The Mahila Money Prepaid Card, in partnership with Visa, is designed with the needs of digital entrepreneurs, small business owners and women in mind.
BUSINESS & ECONOMY
Singapore Exchange picks TCS as partner for NSE IFSC-SGX Connect in Gift City
Tata Consultancy Services (TCS) announced that its TCS BaNCS offering has been selected by Singapore Exchange (SGX) to power the NSE IFSC-SGX Connect (Gift Connect). NSE IFSC is a fully owned subsidiary of the National Stock Exchange of India (NSE).
- The connect program will help the exchanges in trade execution and clearing of Nifty products on behalf of its members in Singapore and globally.
Formula 1 and Tata Communications announce multi-year strategic collaboration
Formula 1 and Tata Communications jointly announced a multi-year strategic collaboration for end-to-end managed network services for video contribution globally.
- With this deal, Tata Communications will return to sports as the official broadcast connectivity provider for Formula 1.
Suchitra Ella elected Chairperson of CII Southern Region for 2022-23
Suchitra K Ella, Co-Founder and Joint Managing Director, Bharat Biotech International has been elected as Chairperson of the Confederation of Indian Industry (CII) Southern Region for the year 2022-23.
- Kamal Bali, President & Managing Director, Volvo Group India, has been elected as Deputy Chairman of CII Southern Region for the year 2022-23.
Bank Board Bureau recommends names for chiefs of PSU Banks
The Banks Board Bureau has recommended names for the positions of managing director and chief executive officers at Union Bank, Indian Overseas Bank and Punjab and Sind Bank.
- It has also shortlisted Alok Kumar Choudhary as the replacement for Ashwani Bhatia as managing director at State bank of India.
- A Manimekhalai, executive director at Canara Bank, has been recommended as the MD & CEO of UBI, Ajay Kumar Srivastava, Executive Director at IOB, has been recommended for the post in the same bank and Swaroop Kumar Saha has been recommended for the position at the Punjab & Sind Bank.
- The appointment at the 3 banks comes as Rajkiran Rai G and S Krishnan, and Partha Pratim will be completing their terms at the respective banks on May 31 and end-December this year, respectively.
Flipkart Health+ appoints Prashant Jhaveri as CEO
Ecommerce major Flipkart’s healthcare business Flipkart Health+ said it has appointed Prashant Jhaveri as its chief executive officer.
- Jhaveri previously worked with Apollo Health and Lifestyle Limited as its chief business officer and was responsible for growth and partnership. He also served as CEO of MediBuddy and CBO for the Medi Assist Group in previous stints.
Poland’s Karolina Bielawska wins Miss World 2021 crown
Karolina Bielawska from Poland has won the 70th edition of the Miss World pageant that took place in Puerto Rico. She was crowned Miss World 2021. The coronation took place at the Coca-Cola Music Hall in San Juan, Puerto Rico.
- Shree Saini from the United States became the first runner-up while the second runner-up is Olivia Yace from Côte d’Ivoire.
- Karolina is currently pursuing a Master’s Degree in Management and would like to continue her studies with a PhD. Karolina also works as a model. She enjoys swimming and scuba diving and playing tennis and badminton. She aspires to become a motivational speaker, according to Miss World Organisation.
2022 Hurun global rich list: Mukesh Ambani richest man in India, Asia; Uday Kotak 3rd richest banker
While is India is home to many millionaires and billionaires, Reliance Industries Limited chairman Mukesh Ambani was the only Indian to feature in the world’s top 10 billionaires list published by research and luxury publishing group Hurun India 2022’s Global Rich List, in association with realty firm M3M.
- The top 3 billionaires in the world are SpaceX and Tesla founder Elon Musk, Amazon’s executive chairman Jeff Bezos, and LVMH CEO Bernard Arnault. The global list has pointed out that there are a total of 3,381 billionaires in the world, up 153 from last year.
- With a net worth of a $103 billion, Ambani not only just earned the title of being the ‘Richest Man in India’ but also in Asia, reporting a 24 per cent surge in his wealth. The RIL chairman also earned the ‘Richest Telecom Entrepreneur’ title.Meanwhile, Adani Group chairman Gautam Adani wasn’t much behind Ambani and was named the ‘Richest Energy Entrepreneur’, 12th on the list.
- With a wealth of $16 billion, Kotak Mahindra Bank CEO Uday Kotak secured the ‘World’s Third Richest Banker’ title.
- With a wealth of US$ 7.5 billion, Nusli Wadia and family of Britannia is the richest biscuit manufacturer in the world.
- Jumping 103 ranks over the last two years, and with a wealth of US$ 18 billion Kumar Mangalam Birla and family, ranked 104th, is the richest cement manufacturer in the world.
- With a wealth of US$ 4.3 billion and US$ 4.2 billion respectively, Rakesh Gangwal and Rahul Bhatia and the family of “Indigo” airlines are the wealthiest aviation billionaires.Cyrus Poonawalla, ranked 55th, of the serum institute of India, is the richest healthcare billionaire in the world.
- With a wealth of US$ 9.7 billion, jumping 113 ranks in last year, Ashwin Dani & family, ranked 269th, is the richest paint entrepreneur in the world.
Reliance Retail slips three spots to 56th position on Deloitte’s top retailers’ list
Reliance Retail, the consumer business arm of Reliance Industries Ltd, has moved down three spots to 56th in the top-250 global retailers’ list, according to global consulting firm Deloitte.
- Walmart has managed to claim the first spot, followed by Jeff Bezos-owned Amazon and the US-based Costco Wholesale Corporation.
- Reliance Retail lost its place to companies such as Wesfarmers Ltd of Australia, Empire Company Ltd of Canada, and Meijer, Inc. of the US.
SCIENCE & TECHNOLOGY
Karnataka introduced Dishaank App for Land Records
The Survey Settlement and Land Records (SSLR) unit of Karnataka’s revenue department is ensuring easy availability of original land records through an app called Dishaank.
- The Dishaank app is developed under the Geographical Information System (GIS) program of the Karnataka State Remote Sensing Applications Center (KSRSAC).
- The KSRSAC provides satellite data to agencies such as the SSLR unit for innovative use. Dishaank leverages Karnataka’s decision to digitize land records under the Bhoomi project.
‘Visionary’ US astrophysicist Eugene Parker passes away
Eugene Parker, a pioneering American astrophysicist whose mathematical prediction that charged particles streamed from stars in a solar wind was met with disbelief before he was ultimately vindicated, has died aged 94, NASA said.
- Parker was hailed as a visionary who laid the foundations for the field of heliophysics, the science of understanding the Sun and its interactions with Earth and the Solar System, including space weather.
- In 2018, he became the first person to witness the launch of a spacecraft bearing his name, NASA’s Parker Solar Probe.
BOOKS & AUTHORS
“More than Just Surgery: Life Lessons Beyond the OT” book by Tehemton Erach Udwadia
The book titled “More than Just Surgery: Life Lessons Beyond the OT” written by Tehemton Erach Udwadia has been released recently.
- Awarded the Padma Shri, the Padma Bhushan and the OBE, Dr Erach Udwadia is a renowned teacher and surgeon, the first surgeon in India to introduce laparoscopy in surgery in 1972, and the first to perform laparoscopic surgery in the developing world in 1990.He is is widely regarded as the father of laparoscopy in India.