Daily Current Affairs 23rd March, 2022

Daily Current Affairs 23 March 2022 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Cabinet approves Minimum Support Price of Raw Jute for 2022 -23 season
The Cabinet Committee on Economic Affairs, CCEA chaired by Prime Minister Narendra Modi, has approved the Minimum Support Price, MSP for Raw Jute for 2022-23 season. The approval is based on recommendations of the Commission for Agricultural Costs and Prices.

  • The MSP of Raw Jute, TDN3 equivalent to TD5 grade has been fixed at  4750 rupees per quintal for 2022-23 season. This is an increase of  250 rupees over the previous year.
  • This will ensure a return of 60 point, 53 percent over all India weighted average cost of production.

Kerala becomes first state to introduce Carbon-Neutral Farming
Kerala is set to become the first State in the country to introduce carbon-neutral farming methods in selected locations, for which the government has set aside ₹6 crore in the 2022-23 Budget.

  • In the first phase, carbon-neutral farming will be implemented in 13 farms under the Agriculture department and tribal areas, and steps are on to convert the State Seed Farm at Aluva a carbon-neutral farm.
  • In the second phase, model carbon-neutral farms will be developed in all the 140 Assembly constituencies

Cabinet approves extension of National AIDS, STD control programme to March 31, 2026
The Union Cabinet has approved continuation of National AIDS and STD Control Programme, a Central sector scheme fully funded by the Government of India from April 1, 2021 to March 31, 2026 with an outlay of ₹15,471.94 crore by approving phase-V of the programme.

  • The Phase-IV (Extension) of National AIDS and STD Control Programme concluded on March 31, 2021.
  • The national AIDS response under NACP is globally considered to be an extremely successful programme. The annual new HIV infections in India have declined by 48% against the global average of 31% [the baseline year of 2010].


INTERNATIONAL NEWS

India ranks 51st in global list of annual rise in housing prices, Turkey topped
India ranks 51st in annual appreciation in housing prices with a 2.1 per cent rise in rates during the October-December quarter of the last year, according to property consultant Knight Frank.

  • In its latest research report titled ‘Global House Price Index Q4 2021,‘ Knight Frank said that India has climbed up five spots to the 51st rank in Q4 of 2021 against the 56th rank in Q4 of 2020.
  • Turkey witnessed the highest annual price growth rate by 59.6 per cent in the year to Q4 2021, followed by New Zealand (22.6 per cent), Czech Republic (22.1 per cent), Slovakia (22.1 per cent) and Australia (21.8 per cent).
  • Malaysia, Malta and Morocco markets recorded a decline in housing prices by 0.7 per cent, 3.1 per cent and 6.3 per cent, respectively, in the year 2021.
  • House Price Index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics. The index tracks nominal and real price growth in local currencies. The rankings on the price movement have been accounted basis the nominal price growth change.

UN Environment Programme joins alliance to implement One Health approach
The UN Environment Programme (UNEP) has joined a multilateral initiative that aims to advance human, ecosystems, and animal health simultaneously in line with the sustainability agenda.

  • The UNEP said in a joint statement released in Nairobi, the Kenyan capital, evening that by joining the One Health Alliance, the agency will offer the expertise required to tackle the ecological dimension of human and animal health.
  • Other members of the expanded One Health Alliance include the Food and Agriculture Organization (FAO) of the United Nations, the World Health Organization (WHO), and the World Organization for Animal Health (OIE).

3rd edition of India-Uzbekistan joint military exercise begins in Yangiarik
The 3rd edition of joint training exercise between Indian and Uzbekistan armies, EX-DUSTLIK held at Yangiarik, Uzbekistan.

  • The Indian contingent which comprises of a platoon strength of Grenadiers Regiment, departed for the exercise area to join the Uzbekistan Army contingent represented by troops of the North Western Military District.
  • The joint exercise would focus on counter terrorism operations in semi-urban terrain under a United Nations Mandate. The training schedule will focus primarily on sharing of tactical level drills and learning of best practices from each other.


BANKING & FINANCE

Rupeek partners with NSDC to build skilled gold appraisers
Asset-backed digital lending platform Rupeek has announced the launch of ‘Rupeek Academy’ in collaboration with the National Apprenticeship Promotion Scheme (NAPS), an initiative by NSDC.

  • The partnership is aimed at attracting young talent looking for career opportunities within India’s gold loan industry.
  • With a vision to create a centre for excellence in developing and managing talent for gold appraisers, Rupeek has set up a skilling programme as part of Rupeek Academy.

DBS Bank India launches green deposits programme 
DBS Bank India has announced the launch of its Green Deposit Programme for corporate clients providing a simple way for companies to support environmentally friendly projects or avenues.

  • Under the Bank’s sustainability programme, Green Deposits will fund green industries and initiatives such as green building sustainable water initiatives that include wastewater management, renewable energy and clean transportation.
  • Under the Bank’s sustainability programme, Green Deposits will fund green industries and initiatives such as green building sustainable water initiatives that include wastewater management, renewable energy and clean transportation.
  • Green Deposits serve as an ideal opportunity for corporates looking to include sustainability agenda into their treasury activities or those having limited options for investing in environmentally beneficial projects.

Nabard sanctions financial assistance of Rs 4013cr for Odisha
The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 4,013 crore to the Odisha government during the financial year 2021-22 under the Rural Infrastructure Development Fund (RIDF).

  • This financial allocation is highest in the country under RIDF during the financial year.
  • During the year, major thrust has been given to the improvement in the rural connectivity sector in the state (RIDF assistance of Rs 2,568 crore constituting around 64 per cent of total sanction of the state) through construction of rural roads and bridges.

RBI cancels license of Kanpur-based People’s Co-operative Bank Ltd
The Reserve Bank of India cancelled the license of Kanpur-based People’s Co-operative Bank Limited as it does not have adequate capital and earning prospects.

  • The Commissioner for Cooperation and Registrar of Cooperative Societies, Uttar Pradesh, has also been requested to issue an order for winding up the bank and appoint a liquidator for the lender.

Paytm Payment Gateway launches ‘Payment Analytics’ to help SMEs make data-driven decisions
Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary of One97 Communications, has launched ‘Payment Analytics’, a data analysis feature for online and offline merchants.

  • This service, which is available to all Paytm merchants at no extra cost, will enable merchants with data-driven payment insights to help them understand customers and their payment preferences.
  • Payment Analytics has been exclusively designed by Paytm Payment Gateway to provide ready-made reports about payment sources, payment flows, customer behaviour, user retention, payment success rates and reasons for payment failures.


BUSINESS & ECONOMY

Fitch slashes India’s FY23 growth forecast to 8.5% 
Rating agency Fitch slashed India’s growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing soaring energy prices and rising inflation on account of the Russia-Ukraine war.

  • It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 per cent. For 2023-24, it is estimated at 7 per cent.
  • In its Global economic Outlook-March 2022, Fitch said the post-COVID-19 pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation.

Indian, Israeli companies sign MoU for fertiliser supply for five years
Amid possible shortage and cost escalation due to Ukraine-Russia conflict, companies from India and Israel signed an MoU for the supply of muriate of potash (MOP) for five years.

  • The MoU between Indian Potash Ltd (IPL), under the Department of Fertilisers, Ministry of Chemicals and Fertilisers, and Israel Chemicals Ltd (ICL) will be for the period 2022 to 2027 with a yearly quantity of 6 to 6.5 LMT.
  • The MoU would prove beneficial in view of the affected supply chain of potash due to the Ukraine-Russia war and escalating cost of potash and other fertilisers supplied from that region.


ACQUISITIONS & MERGERS

Flipkart-backed PhonePe acquires GigIndia 
Flipkart-backed fintech company, PhonePe has acquired 100 per cent stake in B2B gig marketplace, GigIndia in an all-cash deal.

  • PhonePe did not disclose the value of the acquisition. GigIndia helped businesses to scale effectively by providing them with gig workers or freelancers in functions like sales, marketing, recruitment, operations


SPORTS

Lakshya Sen enters Top 10 of World Badminton Federation Rankings in Men’s singles
In Badminton World Federation (BWF) World RankingsLakshya Sen entered the Top 10 in Men’s singles after a runner-up finish in the All England Open 2022.

  • The Young Women’s Double duo of TressaJolly and Gayatri Gopichand, after a tremendous semi-final run at All England open Jumped massive 12 spots in the latest BWF rankings. In the Men’s Doubles,India open winners Satwiksairaj Rankireddy and Chirag Shetty reached the quarter-finals at the All England open and are now the World Number 7 pair.
  • In Mixed Doubles, Ishaan Bhatnagar and Tanisha Crasto have also climbed 10 spots to World No. 65. In Women’s Singles 2-time Olympic medallist PV Sindhu remains static at World No. 7 in the while Saina Nehwal has climbed up two spots and is now the World No. 23 shuttler in this category.


AWARDS

Devendra Jhajharia becomes first para-athlete to receive Padma Bhushan, Avani Lekhara also receives Padma Shri award
Devendra Jhajharia became the first para-athlete to receive the Padma Bhushan, the country’s third-highest civilian award.

  • Jhajharia has won many Paralympic medals, including his first gold at the 2004 Paralympics in Athens, his second gold at the 2016 Rio Games, and a silver medal at the 2020 Tokyo Olympics.
  • Avani Lekhara, a para-shooter, was also awarded the Padma Shri award in the Sports category.

Tamil Nadu: GI tag for handmade Narasingapettai nagaswaram
The Narasingapettai Nagaswaram has earned the Geographical Indication (GI) tag under ‘musical instruments of class 15’.

  • The unique feature of the nagaswaram is its production process – it is handmade in Narasingapettai village in Thanjavur, unlike the other machine-made ones, said the registry notification.
  • The artisans mastered the craft of producing the wooden instrument from their predecessors in Narasingapettai, a village near Kumbakonam. According to them, it takes three days and three artisans to make one nagaswaram. Each family makes 40 pieces a year.


SCIENCE & TECHNOLOGY

Indian Army engineers build first-of-its-kind 3D printed house for jawans
Indian Army’s Military Engineering Services (MES) constructed two 3D Printed houses within three weeks using Construction 3D Printing Technology by Tvasta. The 3D Printed houses, constructed in South-Western Air Command in Gandhinagar, are the first-of-its-kind structures in India.

  • The 3D printed houses are symbolic of the modern-day rapid construction efforts to cater faster to the growing accommodation requirements of the Indian Armed Forces.
  • Constructed in collaboration with the Chennai based startup Tvasta, each house possesses a built area of around 700 square feet. The disaster-resilient structures are in compliance with Zone-3 earthquake specifications.

NTPC gives India’s first Green Hydrogen Microgrid Project
NTPC Ltd, India’s largest integrated energy company has awarded project of ‘Standalone Fuel-Cell based Micro-grid with hydrogen production using electrolyser’ at NTPC Simhadri (Andhra Pradesh). This will be India’s first Green Hydrogen-based energy storage project and one of world’s largest.

  • It would be a precursor to large scale hydrogen energy storage projects and would be useful for studying and deploying multiple microgrids in various off-grid and strategic locations of the country.
  • The hydrogen would be produced using the advanced 240 kW Solid Oxide Electrolyser by taking input power from the nearby Floating Solar project. The hydrogen produced during sunshine hours would be stored at high pressure and would be electrified using a 50 kW Solid Oxide Fuel Cell. The system would work in a standalone mode from 5 PM to 7 AM.


OBITUARIES

Mali’s Ex-Prime Minister Soumeylou Maiga Dies in Detention
Mali’s former Prime Minister Soumeylou Boubèye Maïga died in the capital, Bamako.

  • Maiga, who served as prime minister of Mali from 2017 until 2019, was 67.
  • He remained an influential figure in security policy in Mali and the surrounding Sahel region and had been detained since August 2021 when the country was taken over by a military junta.


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