Daily Current Affairs 28 June 2022 for Banking/Insurance/SSC and other related exams.
Upper age limit for Agnipath scheme hiring raised to 23 for 2022
The government increased the upper-age limit for recruitment under the “Agnipath” scheme to 23 years from 21 years for the year 2022 amid widespread protests against the new model for enrolment of soldiers into the three services.
- Unveiling the scheme, the government had said youngsters between the ages of 17-and-a-half and 21 years would be inducted for a four-year tenure, while 25 per cent of the recruits will be retained for regular service.
7th Anniversary Pradhan Mantri Awas Yojana-Urban on 24th June
The government said 122.69 lakh houses have so far been sanctioned under the Pradhan Mantri Awas Yojana (Urban) as the initiative celebrated the seventh anniversary.
- In a statement, the Union Housing and Urban Affairs Ministry said that more than 1 crore houses have been grounded and over 61 lakh houses completed and delivered to the beneficiaries.
Nitin Gadkari approves draft of Bharat-NCAP car safety rating system
Union Road Transport and Highways Minister Nitin Gadkari approved the draft notification introducing Bharat NCAP (New Car Assessment Programme) for Indian cars, which will be accorded “star ratings” based on their performance in crash tests and on other safety parameters once the rule is finalised.
- This will be the first for India’s car market, which does not have safety ratings.
- Auto firms in India follow AIS-145 (automotive Indian standard-145), which enforces safety features for vehicles such as seatbelts tell-tale, passenger airbags, and the speed limit alarm. This standard has created changes in the Indian automotive industry and was enforced first in July 2019.
West African nations Gabon and Togo join Commonwealth
The Commonwealth of Nations now has 56 member nations after the admission of Togo and Gabon. The two historically French-speaking nations were formally admitted to the union at the Commonwealth Heads of Government Meeting, which was presided over by Rwandan President Paul Kagame in Kigali, the country’s capital.
- According to Patricia Scotland, the organization’s secretary-general, admission is determined by evaluations of a number of standards, including the democratic process, effective leadership, and rule of law.
EIU releases10 most liveable and least liveable cities around the world in 2022 list
The Economist Intelligence Unit (EIU) has just revealed its annual ranking of the world’s most livable cities, and the Global Liveability Index for 2022 shows some notable changes from the Global Liveability Index for the previous year. In the latest Global Liveability Index 2022, New Delhi has been ranked at 112th position while the country’s financial capital Mumbai is ranked at 117th position
- The top ten Economist Intelligence Unit (EIU) rankings continue to be dominated by Western European cities, with some cities in Canada included. Due to the Covid-19 restrictions being lifted, Calgary rose from 18th to tie for third with Zurich, while Copenhagen is now in second place, slightly behind Vienna. In the analysis of the richest countries, mid-sized cities typically fare very well.
2022’s Global Liveability Index:
The top 10
- Vienna, Austria
- Copenhagen, Denmark
- Zurich, Switzerland
- Calgary, Canada
- Vancouver, Canada
- Geneva, Switzerland
- Frankfurt, Germany
- Toronto, Canada
- Amsterdam, Netherlands
- Osaka, Japan and Melbourne, Australia (tie)
10 LEAST LIVEABLE CITIES AROUND THE WORLD IN 2022:
- Tehran, Iran
- Douala, Cameroon
- Harare, Zimbabwe
- Dhaka, Bangladesh
- Port Moresby, PNG
- Karachi, Pakistan
- Algiers, Algeria
- Tripoli, Libya
- Lagos, Nigeria
- Damascus, Syria
BANKING & FINANCE
SBI gets RBI nod to set up operations support subsidiary
State Bank of India (SBI) has secured an in-principal approval from the Reserve Bank of India (RBI) to set up an operations support subsidiary.
- The public sector banking giant aims to bring down the cost-to-income ratio through its new proposed arm, whose pilot will be launched in a few regions before it is launched across the country.
- The proposed subsidiary is expected to enhance SBI’s operational efficiencies and profitability over time.
RBI extends card tokenisation deadline to September 30 2022
The Reserve Bank of India (RBI) extended the timeline for tokenisation of debit and credit cards by another three months till September 30, 2022.
- The decision was made in consultation with the stakeholders and to avoid disruption and inconvenience to cardholders. Earlier the due date for card tokenisation was set on June 30, 2022.
- Thereby, last year in December, RBI mandated entities other than card networks and card issuers to not store debit or credit card data with them.
- Further, RBI also issued a framework for CoF Tokenisation (CoFT) services.
BUSINESS & ECONOMY
Govt announces extension of GST compensation cess levy till March 2026
The government has extended the time for levy of GST compensation cess by nearly 4 years till March 31, 2026.
- As per the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022, notified by the finance ministry, the compensation cess will continue to be levied from July 1, 2022 to March 31, 2026.
C-DoT signs partnership with Galore Networks to develop indigenous 5G RAN products and solutions
The Centre for Development of Telematics (C-DOT) and Galore Networks signed an agreement for collaborative building of indigenous end-to-end 5G RAN products and solutions.
- This (pact) will operate as a catalyst leading to indigenous design, development, production, and deployment of cost-effective 5G products and solutions.
- This joint initiative will also combine the technical know-how and complementary strengths of Indian R&D and industry onto a single, unified platform, opening up new opportunities for the development of indigenous intellectual property (IP) assets that can open up new doors for the expansion and international commercialization of domestic technologies.
AI adoption to add $500 billion to India’s GDP by 2025: Nasscom
The adoption of artificial intelligence (AI) and data utilisation strategy can add $500 billion to India’s GDP by 2025, a new Nasscom report showed.
- The AI adoption in four key sectors — BFSI, consumer packaged goods (CPG) and retail, healthcare, and industrials/automotive — can contribute 60 per cent of the total $ 500 billion opportunity, according to “AI Adoption Index” Nasscom, EY and Microsoft, EXL and Capgemini.
- Thought the current rate of AI investments in India is growing at a compound annual growth rate (CAGR) of 30.8 per cent and poised to reach $881 million by 2023, it will still represent just 2.5 per cent of the total global AI investments of $340 billion.
BEL signs MoU with Belarus-based Defense Initiatives
Bharat Electronics Ltd. (BEL) signed an MoU with Defense Initiatives (DI), Belarus, and Defense Initiatives Aero Pvt. Ltd., India, a subsidiary of DI Belarus, for supply of Airborne Defense Suite (ADS) for the helicopters of the Indian Air Force (IAF).
- The cooperation between these companies is also aimed at exploring various business opportunities for India and global markets for ADS, said BEL in a statement.
Indonesia Open: Viktor Axelsen, Tai Tzu Ying win singles titles
Viktor Axelsen from Denmark and Tai Tzu Ying of Chinese Taipei won the respective men’s and women’s singles titles at the Indonesia Open tournament.
- Axelsen, who also won the Indonesia Open in the last edition, successfully defended his title after beating China’s Zhao Jun Peng 21-9, 21-10 in the men’s singles final.
- Meanwhile, Matsuyama Nami and Shida Chiharu of Japan retained their Indonesia Open women’s double crown after coming back from one game down against compatriots Fukushima Yuki and Hirota Sayaka.
- In the men’s doubles final, Liu Yu Chen and Ou Xuan Yi capped off an impressive campaign after being promoted from the reserves list as they defeated Korea’s Choi and Kim in two games.
IRARC’s Avinash Kulkarni to head India Debt Resolution Company
The chief executive of India Resurgence Asset Reconstruction Company (IRARC), Avinash Kulkarni, has been selected to head the India Debt Resolution Company (IDRCL) which will be the sole agent to resolve more than ₹83,000 crore of bad loans to be acquired by the government-backed National Asset Reconstruction Company (NARCL).
- Kulkarni is a State Bank of India (SBI) veteran, having undertaken various roles at the public sector behemoth. His engagements at the SBI group have included assignments in the investment banking and advisory arm, SBI Capital Markets.
Tapan Deka appointed new IB director, RAW chief Samant Goel gets one-year extension
Special Director in the Intelligence Bureau (IB) Tapan Deka has been appointed the new chief of the central intelligence agency.
- He will replace incumbent Arvind Kumar after his tenure comes to an end on June 30. Current chief of Research and Analysis Wing (R&AW) Samant Goel, meanwhile, has been given another extension of one year in his tenure which comes to an end on June 30.
- The Centre had appointed former Punjab DGP Dinkar Gupta as the new chief of the National Investigation Agency (NIA) and Special Director in the IB Swagat Das as Special Secretary in the Home Ministry.
Parameswaran Iyer appointed as Niti Aayog CEO
After a six-year-long stint, NITI Aayog CEO Amitabh Kant is set to leave the government policy think tank at the end of June. He will be replaced by former Secretary of the Ministry of Drinking Water and Sanitation Parameswaran Iyer, who spearheaded the government’s Swachh Bharat Mission.
- Iyer’s initial tenure will be for two years, according to a notification issued by the Department of Personnel and Training.
- A 1980-batch retired IAS officer (Kerala cadre), Kant took over as the NITI Aayog CEO in 2016 — he last got an extension, by a year, in June 2021. During his time at the organisation, Kant drove the policy push in areas related to industrial development, technology and investment.
SCIENCE & TECHNOLOGY
Tata Power Solar commissions India’s largest floating solar power project
Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power, has accomplished a remarkable feat by commissioning India’s largest floating solar power project in Kayamkulam, Kerala on a 350-acre water body, backwaters area, having an installed capacity of 101.6 Megawatt Peak.
- This installation was completed within the stipulated period, despite the arduous challenges of variable water depths, high sea tides, and severe water salinity concerns faced throughout the project’s construction duration.
- This project is the first in the Floating Solar Photovoltaic (FSPV) through power purchase agreement category, the company said.
Indian Navy and DRDO conduct flight test of VL-SRSAM
Indigenously developed Vertical Launch Short Range Surface to Air Missile (VL-SRSAM) was successfully flight-tested by Defence Research and Development Organisation (DRDO) and the Navy from a warship at Integrated Test Range (ITR), Chandipur off the coast of Odisha.
- The VL-SRSAM, a ship-borne weapon system, is meant for neutralising various aerial threats at close ranges including sea-skimming targets.
- The launch of the system was conducted against a high speed aerial target mimicking aircraft, which was successfully engaged. The flight path of the vehicle along with health parameters were monitored using a number of tracking instruments deployed by ITR, Chandipur.
Noted lyricist, author and journalist, Chowalloor Krishnankutty passed away
In Kerala, noted lyricist, author and journalist, Chowalloor Krishnankutty passed away at a private Medical College Hospital in Thrissur. He was 86.
- A former Staff Artist with AIR, Krishnankutty penned over 3000 devotional songs and authored more than 200 books. He retired as an Assistant Editor with the Malayala Manorama daily.
- He won several awards including the Kerala Sahithya Academy Award for satire, Poonthanam Jnanapana and Revathy Pattathanam Awards among others.