Daily Current Affairs 25 May 2022 for Banking/Insurance/SSC and other related exams.
India hosts SCO-RATS meet; focus on situation in Afghanistan
India, Pakistan and other member-states of Shanghai Cooperation Organisation (SCO) deliberated on boosting cooperation in combating various regional security challenges at a meeting hosted by New Delhi.
- The three-day meeting is taking place under the framework of the SCO’s Regional Anti-Terrorist Structure (RATS).
- A major focus of the discussions was to be on the situation in Afghanistan, especially in dealing with the threat from terror groups active in the Taliban-ruled country, sources said. Pakistan, sources said, has sent a three-member team — an official each from the Interior, Defence and Foreign ministries — for the meeting.
Year-long celebrations of 250th Birth Anniversary of Raja Ram Mohan Roy begins
Under the aegis of Azadi Ka Amrit Mahotsav, the ministry of culture, held the inaugural ceremony to commemorate the yearlong celebrations of Raja Ram Mohan Roy’s 250th birth anniversary, in Kolkata, during which his statue was also virtually unveiled at the Raja Ram Mohan Roy Library Foundation.It will continue till next year May 22.
- Several other events were arranged at Science City Auditorium, Kolkata. A seminar and quiz program was also organised for children. A multimedia presentation on various facets of the life of Raja Ram Mohan Roy was also presented too.
IAF Ranks 3rd On World Air Power Index
The Indian Air Force (IAF) has been placed at the third position on World Air Power Index in terms of the total fighting strength of the various air services of different nations of the world.
- The World Directory of Modern Military Aircraft (WDMMA) published the Global Air Powers Ranking of 2022, IAF has also been placed above Japan Air Self-Defense Force (JASDF), Israeli Air Force and French Air and Space Force, The Eur Asian Times reported.
- The report has evaluated the total fighting strength of the various air forces of different nations of the world and ranked them accordingly. Currently WDMMA is following 98 nations, covering 124 air administrations and following 47,840 airplanes.
Belgium becomes first country to make quarantine compulsory for patients with Monkeypox
Belgium has become the first country to make the 21-day quarantine compulsory for the monkeypox patients after four cases of the disease have been reported.
- Monkeypox is a disease in the same family as smallpox and symptoms include a distinct bumpy rash, a fever, sore muscles and a headache. Monkeypox is less deadly than smallpox, with a mortality rate below 4 per cent, but experts are worried about the unusual spread of the disease beyond Africa where it usually circulates.
15th session of the Conference of the Parties to the UNCCD held in Abidjan, Côte d’Ivoire
The fifteenth session of the Conference of the Parties (COP15) of the United Nations Convention to Combat Desertification (UNCCD) held in Abidjan, Côte d’Ivoire, from 9 to 20 May 2022.
- The COP15 theme, ‘Land. Life. Legacy: From scarcity to prosperity’, is a call to action to ensure land, the lifeline on this planet, continues to benefit present and future generations.
- This session will bring together leaders from governments, the private sector, civil society, and other key stakeholders from around the world to drive progress in future sustainable land management and to explore links between land and other key sustainability issues.
BANKING & FINANCE
RBI sets up 6-member committee to review customer service standards
The Reserve Bank of India has set up a six-member committee headed by former Deputy Governor, B. P. Kanungo, to review customer service standards in entities regulated by it.
- The committee will evaluate the efficacy, adequacy and quality of customer service in regulated entities (REs) vis-à-vis the existing RBI guidelines on customer service, identify gaps, if any, and suggest measures to improve customer service.
- The committee will review the evolving needs of the customer service landscape, especially in the context of evolving digital/ electronic financial products and distribution landscape and suggest suitable regulatory measures.
BRICS bank to open India’s regional office in GIFT City in Gujarat
The New Development Bank (NDB) of the BRICS countries has announced plans to open its regional office in India at the Gujarat International Finance Tec-City (GIFT City) to cater to the infrastructure and sustainable development needs of the country.
- Working in close coordination with the NDB Headquarters, the Indian Regional Office will focus on project origination including initial project preparation and technical assistance, pipeline development, project implementation, and monitoring as well as regional portfolio management.
BUSINESS & ECONOMY
Govt Extends Deadline For Fsnl Strategic Sale
The department of investment and public asset management (DIPAM) has extended the last date for submission of bids for strategic disinvestment of Ferro Scrap Nigam Ltd., a 100% subsidiary of MSTC Ltd., under the ministry of steel, by a month to June 6, and has clarified that the company is in the process of getting its existing contracts extended.
- The department, in a series of clarifications to interested bidders, said the company was in the process of getting extension on the existing set of contracts ending within FY23.
ONGC becomes 1st gas producer to trade on IGX
State-owned Oil and Natural Gas Corporation (ONGC) said it has become the first gas producer to trade domestic gas on the Indian Gas Exchange, trading unspecified volumes from its eastern offshore KG-DWN-98/2 block. In a statement, ONGC said it will increase volumes slowly.
- The gas traded is from ONGC Krishna Godavari 98/2 block, it said, but did not specify the volumes that were sold.
- After the deregulation in gas pricing ecosystem in 2000-21, ONGC has prepared itself to reap the benefits.
Jet Airways gets DGCA nod to start commercial flights
The DGCA (Directorate General of Civil Aviation) granted air operator’s permit to Jet Airways. This will allow the airline to restart commercial flight operations after remaining grounded for more than three years.
- The approval comes after the airline conducted proving flights for the safety regulator between May 15 and May 17.
Army signs contract for developing AI-powered wargame centre
The Army Training Command signed a memorandum of understanding (MoU) with Gandhinagar-based Rashtriya Raksha University (RRU) to develop a ‘Wargame Research and Development Centre’ in New Delhi.
- The project, which has been given a prototype name ‘WARDEC’, will be a first-of-its-kind simulation-based training centre in India that will use artificial intelligence (AI) to design virtual reality wargames.
- The Wargame Research and Development Centre will be used by the Army to train its soldiers and test their strategies through “metaverse-enabled gameplay”. The wargame models will be designed to prepare for wars as well as counter-terror and counter-insurgency operations.
UN cuts India growth estimate to 6.4% in 2022
The United Nations said India is expected to grow 6.4% in 2022, well below the 8.8% growth in 2021, as higher inflationary pressures and uneven recovery of the labour market are likely to curb private consumption and investment.
- It said the global economy is now projected to grow 3.1% in 2022, down from 4% projected in January, due to broad based deterioration of growth prospects including the US, EU, China and a majority of developing countries.
- In its World Economic Situation and Prospects report as of mid-2022, the UN’s department of economic and social affairs said global inflation is projected to increase to 6.7% in 2022, twice the average of 2.9% during 2010–2020, with sharp rises in food and energy prices.
ACQUISITIONS & MERGERS
IDBI Bank to sell 25% stake in Ageas Federal Life Insurance for Rs 580 cr
IDBI Bank has entered into a share purchase agreement with Ageas Insurance International, wherein the bank is looking to sell its remaining stake of 25 per cent in private sector life insurer Ageas Federal Life Insurance for Rs 580 crore, making Ageas one of the few foreign insurers to raise its stake in its Indian insurance joint venture to 74 per cent, after the government raised the FDI cap in the insurance sector.
- The transaction is expected to be completed in Q2FY23, subject to regulatory approvals and satisfaction of the terms and conditions set out in the share purchase agreement.
Hockey Haryana crowned Champions of 12th Hockey India Sub Junior Women National Championship 2022
Hockey Haryana emerged as the winners of the 12th Hockey India Sub Junior Women National Championship 2022 after defeating Hockey Jharkhand 2-0 in the Final of the tournament, which was held in Imphal, Manipur.
- Riya (13′) and Sejal (39′) scored a goal each to help Hockey Haryana successfully defend the Title in what was a thrilling 2-0 win for the team.
- Earlier in the day, Uttar Pradesh Hockey defeated Madhya Pradesh Hockey 3-0 to secure third place in the tournament.
India’s Nikhat Zareen wins gold at Women’s World Boxing Championships
Nikhat Zareen won a gold medal at the 2022 IBS Women’s World Boxing Championships. At the international boxing association (amateur) Women’s Youth and The Junior World Championship in Antalya, she won the gold medal.
- She also won a bronze medal at the second India Open International Boxing Tournament field in Guwahati.
- With the win in the women’s World Championship Istanbul, Nikhat Zareen became the fifth woman in India to win a world title after Mary Kom, Sarita Devi, Jenny RL, and Lekha KC.
IFS Vivek Kumar appointed as new private secretary to PM Modi
Prime Minister Narendra Modi has got IFS Vivek Kumar as his new Private Secretary (PS).
- The Cabinet Appointments Committee accepted Vivek Kumar’s nomination as PM Modi’s press secretary.
- Vivek Kumar is the director of the Prime Minister’s Office and is a 2004 batch Indian Foreign Service (IFS) officer (PMO).
Infosys reappoints Salil Parekh as Chief Executive Officer
The IT major’s board approved reappointment of Salil Parekh as chief executive officer and managing director from 1 July 2022 to 31 March 2027, subject to the approval of shareholders.
- Salil Parekh, has been the chief executive officer and managing director of Infosys since January 2018 and has led the company over the last 4 years.
Gautam Adani, Karuna Nundy, Khurram Parvez among Time’s 100 most influential people 2022
Supreme Court lawyer Karuna Nundy, business tycoon Gautam Adani and prominent Kashmiri human rights activist Khurram Parvez have been named among the world’s 100 most influential people of 2022 by TIME magazine. The list has been divided into six categories – Icons, Pioneers, Titans, Artists, Leaders and Innovators.
- While Adani has been named under the Titans category along with the likes of Apple CEO Tim Cook and American host Oprah Winfrey, Nundy and Parvez found their place under the Leaders category along with Russian President Vladimir Putin and his Ukraine counterpart Volodymyr Zelenskyy.
- According to Time, Adani Group is now a national behemoth in the world’s sixth-largest economy, though Adani stays out of the public eye, quietly building his empire.
Music Academy announces Sangita Kalanidhi awards for three years
Renowned vocalist and guru, Neyveli R Santanagopalan, eminent mridangam artiste and guru, ‘Tiruvarur’ Bhakthavathsalam, and Lalgudi violin duo, G J R Krishnan and Vijayalakshmi were named for the prestigious Sangita Kalanidhi awards of the Music Academy for 2020, 2021, and 2022.
Sangita Kalanidhi awards:
- Santanagopalan will receive the Sangita Kalanidhi award for the year 2020 while Bhakthavathsalam has been chosen for the award for the year 2021.
- Krishnan and Vijayalakshmi, “torchbearers of the Lalgudi lineage of violinists and renowned performers” will receive the award for 2022.
For the Sangita Kala Acharya awards:
- The Academy has chosen nagaswaram exponent Kivalur N G Ganesan (2020), vocalist, musicologist, and guru Dr Ritha Rajan (2021), and Vainika and musicologist Dr R S Jayalakshmi (2022).
T T K Award for 2020, 2021, and 2022:
- Noted vocalist and guru Thamarakkad Govindan Namboodri, versatile percussionist Nemani Somayajulu, and noted Kanjra artiste A V Anand will receive the T T K Award for 2020, 2021, and 2022 respectively.
- The Musicologist award for 2020 will be presented to Dr V Premalatha for the year 2020. Nritya Kalanidhi will be presented to Bharatanatyam exponents Rama Vaidyanathan (2020) and Narthaki Nataraj (2021). Bragha Bessell, widely respected Abhinaya expert and guru, will be awarded the prize for 2022.
Subhash Ola wins Amazon Smbhav Entrepreneurship Challenge 2022
Shri Subhash Ola, an innovator from Rajasthan who has developed the technology of saving energy in boilers by recycling steam, has won the 1st prize for the Amazon Smbhav Entrepreneurship Challenge 2022 and his enterprise “Geniusenergy Critical Innovation Private Limited” has won the Start-up of the Year award.
- The technology was first developed to make khoya and other milk products, and the portfolio of applications were later extended to textile, milk and food, pharma, plywood, paper mills, leather industry, chemical industry, hot water boiler generator, plastic recycle, laundry, hospitals and so on.
- Geniusenergy Critical Innovation, a start-up recognized by Govt. of India, was incubated by the National Innovation Foundation (NIF), an autonomous body of the Department of Science and Technology (DST), Govt. of India. It serves clientele in a variety of industries for their energy needs, helps them reduce cost, and at the same time protects the environment.
SCIENCE & TECHNOLOGY
China plans World’s First Habitable Planet Search with Space Telescope
Chinese scientists have proposed a space project to survey the sky through a space-borne telescope to hunt for habitable Earth-like planets outside the solar system, about 32 light-years from Earth, the official media reported.
- The project, named Closeby Habitable Exoplanet Survey (CHES), if carried out, will be the first space mission specially designed to search for habitable terrestrial planets around nearby Sun-like stars, the report said.
UP launches ‘Sambhav’ portal for disposal of public grievances related to energy and urban development
Minister for energy and urban development Arvind Sharma launched the SAMBHAV (Systemic Administration Mechanism for Bringing Happiness and Value) portal for disposal of public grievances and monitoring programmes and schemes of the two departments.
- Sharma directed officials to resolve grievances and warned of strict action if the issues are not dealt with properly.
- If ATR and response are not found suitable, the minister will take up the issue in the monthly meeting with department officers.
Veteran Communist leader Shivaji Patnaik passes away
Veteran Communist leader and three-time Member of Parliament, Shivaji Patnaik passed away at the age of 93. Shivaji Patnaik is lauded as the founder of CPI (Marxist) in Odisha.
- Patnaik had a crucial role in the formation of CPI(M) when the Communist party faced division in 1964. He remained the party secretary from 1971 to 1990. He was also elected to the Central Committee of the party.
- The departed leader was first elected to Lok Sabha in 1977. Subsequently, on two occasions, 1989 and 1991, he entered the Lower House of Parliament after winning the Bhubaneswar Lok Sabha seat.
International Day of Yoga to be observed in Karnataka on June 21
The Union Ministry of Ayush has confirmed the observance of the 8th International Day of Yoga (IDY) at Mysuru city, which is known as the cultural capital and major historic destination of Karnataka state on June 21.
- The Ministry of Ayush has written to the Chief Secretary of Karnataka P. Ravikumar regarding the matter and directed him to issue necessary directions to all the concerned to make arrangements for the successful organisation of the main event of IDY-2022.