Daily Current Affairs 28 March 2022 for Banking/Insurance/SSC and other related exams.
Indian Psychiatric Society national conference held in Visakhapatnam
The 73 rd Annual National Conference of Indian Psychiatric Society (ANCIPS) was organised in the city.The theme chosen for ANCIPS – 2022 ‘Bridging minds … Connecting generations’ was very appropriate in view of the growing generation gap and its impact on society.
- Experts from various parts of India and a few from abroad are expected to participate in the three-day conference held at Vizag Conventions at Madhurawada.
- The last national conference was held 37 years ago in the city by late Jaya Nagaraja, the then Superintendent of the Government Hospital for Mental Care.
NITI Aayog Releases Second Edition of Export Preparedness Index 2021, Gujarat ranked 1
Gujarat, for the second consecutive year, has topped the NITI Aayog’s Export Preparedness Index 2021 which is aimed at assessing the readiness of the states in terms of their export potential and performance.
- Besides Gujarat, Haryana and Punjab, Maharashtra received the second position while Karnataka and Tamil Nadu got third and fourth position, respectively.
- Haryana got the fifth position Uttar Pradesh and Madhya Pradesh have been placed at sixth and seventh positions and Punjab stood at eighth position,Telengana have been accorded ninth and 10th positions, respectively.
- Union territories and states like Lakshadweep, Arunachal Pradesh, Mizoram, Ladakh and Meghalaya were placed at the bottom.
Cabinet extends Pradhan Mantri Garib Kalyan Anna Yojana till September 2022
The Union Cabinet extended the Pradhan Mantri Garib Kalyan Anna Yojana by another six months till September 2022.
- Announcing this, Prime Minister Narendra Modi said that more than 80 crore people of the country will be able to take advantage of the scheme like before. He said, the strength of India lies in the power of every citizen of the country.
Malaysia to host 4 nations for Bersama Shield military drills
Malaysia will host defense forces from 4 nations namely, Australia, New Zealand, Singapore and also the UK within the annual Bersama Shield 2022 training.
- The exercise, referred to as BS22, is conducted within the framework of the Five Power Defense Arrangements (FPDA) – a series of bilateral and multilateral defence agreements established in 1971.
BANKING & FINANCE
First wildlife bond issued by World Bank to save Africa’s black rhino
The World Bank said it has priced the world’s first wildlife bond, raising $150 million that will be partly used for the conservation of black rhinos in South Africa.
- The five-year bond will pay returns determined by the rate of growth in populations of the animals in two South African reserves, the Addo Elephant National Park and the Great Fish River Nature Reserve, the World Bank’s International Bank for Reconstruction and Development.
- The Wildlife Conservation Bond is a first-of-its-kind, outcome-based, financial instrument that channels investments to achieve conservation outcomes — measured in this case by an increase in black rhino populations.
FinMapp gets licence from PFRDA and Irdai to sell NPS, insurance
Financial services company FinMapp said it has received licence from Pension Fund Regulatory and Development Authority (PFRDA) under the National Pension Scheme (NPS). It has also acquired a registration certificate from the Insurance Regulatory and Development Authority of India (Irdai) recognizing it as a corporate agent.
- The licenses will aid the company in selling insurance and NPS products to its customers as a verified seller and help expand its customer base.
- The company will launch NPS as an investment tool on its app in the coming months.
HDFC mutual fund to launch country’s first defence fund
HDFC Mutual Fund has filed a scheme information document (SID) with SEBI to come up with India’s first Defence Fund.
- Called the HDFC Defence Fund, it will be an open-ended equity scheme that will be investing in defence & allied sector companies.
- The allied sectors include aerospace, explosives, shipbuilding, industries /stocks present on the SIDM (Society of Indian Defence Manufacturers) list or any other similar industries/stocks that are allied to the defence sector.
BUSINESS & ECONOMY
SIDBI inks MoU with Meghalaya govt to grow MSME ecosystem
The Small Industries Development Bank of India (SIDBI) has joined hands with the Meghalaya government to develop an ecosystem for small and medium businesses.
- SIDBI has entered into a Memorandum of Understanding (MoU) with the Meghalaya Infrastructure Development and Finance Corporation Ltd (MiDFC) to develop the MSME ecosystem in the state, SIDBI said in a release.
- Under the MoU, SIDBI and the state government will work closely to facilitate the development of the MSME ecosystem in Meghalaya.
Atal Innovation Mission, NITI Aayog & GIZ Project Her&Now join hands to support Women Entrepreneurs across India
In a major step to end the gender-based barriers that pose significant obstacles to women entrepreneurs across India, Atal Innovation Mission (AIM), NITI Aayog, announced their collaboration with the Indo-German Development Cooperation Project ‘Economic Empowerment of Women Entrepreneurs and Start-ups by Women (Her&Now)’ commissioned by the Federal Ministry for Economic Cooperation and Development (BMZ) and jointly implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the Ministry for Skill Development and Entrepreneurship, Government of India, to help women play a greater role in the economy as entrepreneurs.
- The partnership between AIM and Her&Now will impart the ‘WINcubate Training Programme’ to the AIM Incubators and Innovation Centres and equip them in adopting a gender-focused approach.
IIM Ahmedabad sets up Retail Tech Consortium with industry partners
The Centre for Digital Transformation at Indian Institute of Management Ahmedabad (IIMA), a premier global management institute, has recently set up a Retail Tech Consortium and plans to collaborate with several retail and technology organisations in India.
- The consortium will work towards sharing deep knowledge, research, and setting up industry best practices for better collaboration amongst retail tech players in the country.
- Flipkart, India based e-commerce marketplace has joined as a principal partner for the inaugural year of the consortium, bringing its industry knowledge and experience and consumer insights in the internet ecosystem to contribute to this effort.
Goa Shipyard to build dry dock for Sri Lankan navy
In a significant development for Goa Shipyard Ltd and India’s bilateral ties with Sri Lanka, a floating dock valued at approximately $20 million will be built by the Vasco-based shipyard and given as a grant by India to the Sri Lanka navy.
- The floating dock will be established at the Trincomalee Naval Dockyard within the next 30 months.
- The Sri Lankan navy and GSL inked an agreement for the construction of the floating dock, a much-needed requirement for the neighbouring country.
ACQUISITIONS & MERGERS
Ola to acquire fintech Avail Finance
ANI Technologies Pvt. Ltd, the parent of ride-hailing platform Ola Cabs, has reached an agreement to pick up a 100% stake in fintech startup Avail Finance, which serves the blue collar workforce, the company said.
- The SoftBank-backed company did not reveal the financial details of the transaction, but news portal Moneycontrol reported that the share-swap deal will be worth $50 million.
BYJU’S named as official sponsor of FIFA World Cup Qatar 2022
Ed-tech company BYJU’S said it has been named as an official sponsor of the FIFA World Cup Qatar 2022.
- BYJU’S, through this partnership, will leverage its rights to the FIFA World Cup 2022 marks, emblem, and assets, and run unique promotions to connect with football fans around the world, the company said in a statment.
Delhi Boxer Satnam Singh Wins WBC India Featherweight Title
Satnam Singh defeated Amey Nitin by a majority decision over 10 rounds to be crowned the WBC India featherweight champion. Two judges scored the fight in favour of Satnam, while the third judge scored it as a draw after 10 rounds.
- It was an epic battle between the two men, who stood toe-to-toe from the first bell and slugged it out for all 10 rounds. Delhi’s Satnam, dominated the early rounds, but Maharashtra’s Amey Nitin, fought back to take a couple of the middle rounds.
Former SBI chairman Rajnish Kumar joins advisory board of Dun & Bradstreet
Former State Bank of India (SBI) chairman Rajnish Kumar has joined the international strategic advisory board of data and analytics firm Dun & Bradstreet.
- Kumar, a veteran banker, currently sits on the boards of HSBC Asia Pacific, L&T Infotech, Hero MotoCorp and BharatPe.
NATO extends Jens Stoltenberg’s term as Secretary-General by a year
Atlantic Treaty Organization (NATO) extended the term of Secretary-General Jens Stoltenberg by a year until September 30, 2023, according to a NATO statement.
- The decision came after US President Joe Biden and other NATO leaders agreed to extend Stoltenberg’s term at a NATO summit in Brussels.
- Stoltenberg former Norwegian prime minister, was named NATO Secretary-General in October 2014. His term was due to expire in September 2021.
Chile’s Mario Marcel wins the Governor of the year award 2022
Mario Marcel, the Governor of the Central Bank of Chile, has won the Governor of the year award at the Central Banking Awards 2022. Banco Central de Chile is the name of the central bank of Chile.
- When Mario Marcel was named governor of the Central Bank of Chile (BCCh) in October 2016, he took over the leadership of an institution that had secured a reputation as one of the most independent and well-run central banks in Latin America.
- Marcel took steps to further improve the institution. He changed its internal management structure, reducing the number of monetary policy meetings from 12 to eight
Kiran Mazumdar-Shaw elevated as Fellow of Royal Society of Edinburgh
Kiran Mazumdar-Shaw, Executive Chairperson of Biocon and Biocon Biologics, has been elected as the Fellow of the Royal Society of Edinburgh (RSE), Scotland’s National Academy established in 1783, for the advancement of learning and useful knowledge.
- Mazumdar-Shaw will be joining RSE’s current Fellowship of around 1,700 Fellows who are recognised as being some of the greatest thinkers, researchers and practitioners working in or with Scotland.
President Of India Presents President’s Colour To INS Valsura
To mark the occasion, a ceremonial parade was held and a 150-men guard of honour was presented to the President. Established in 1942, INS Valsura is a premier training establishment of the Indian Navy.
- It is entrusted with the responsibility of imparting training to officers and sailors of the Indian Navy, Coast Guard and friendly foreign countries in electrical, electronics, weapon systems and information technology.
BOOKS & AUTHORS
“Rahul Bajaj: An Extraordinary Life” biography by Gita Piramal
Rahul Bajaj passed away just a few weeks before his biography – Rahul Bajaj: An Extraordinary Life by Gita Piramal – was released on March 21, 2022.
- Piramal had, of course, known Bajaj for a long time, and had written briefly about his leadership style in Business Maharajas in the 1990s. Her new book offers still deeper insights into the life and contributions of Rahul Bajaj.