Daily Current Affairs 30 March 2022 for Banking/Insurance/SSC and other related exams.
Gujarat gets India’s first ‘steel road’
Surat in Gujarat has become the first city in India to build a ‘steel’ road. Using steel waste, the road is in the city’s Hazira industrial area sponsored by the Council of Scientific and Industrial Research (CSIR) and the Central Road Research Institute (CRRI), receiving necessary assistance from the Ministry of Steel and the NITI Aayog.
- The newly-constructed road is seen as a remarkable example of sustainable development in the country. It is made entirely by ‘steel slag’, considered a hazardous waste product discharged by industries.
India to build Nuclear Power Plants in “Fleet Mode” from 2023
With the first pour of concrete for a 700 MW atomic power plant in Karnataka’s Kaiga scheduled in 2023, India is set to put in motion construction activities for 10 ‘fleet mode’ nuclear reactors over the next three years.
- The first pour of concrete (FPC) signals the beginning of construction of nuclear power reactors from the pre-project stage which includes excavation activities at the project site.
- The Centre had approved construction of 10 indigenously developed pressurised heavy water reactors (PHWR) of 700 MW each in June 2017. The ten PHWRs will be built at a cost of Rs 1.05 lakh crore.
BANKING & FINANCE
Equitas Small Finance Bank launches Limited Edition Equitas Bank CSK Debit Card in the Equiverse
Equitas Small Finance Bank said it has launched Equitas Bank CSK Debit Card in association with the IPL franchise Chennai Super Kings in the Equiverse platform.
- Any new account applicant can open an account online and choose the CSK Debit Card to extend their support to the IPL team owned by cement manufacturer The India Cements Ltd.
- The bank aims to empower its customer through higher interest rates on savings account, fixed deposits and recurring deposits with the recent rate revisions for savings and RTDs.
DBS Bank India, EaseMyTrip partner to launch green debit card
DBS Bank India has partnered EaseMyTrip to launch an environment-friendly international debit card made using 99% recycled polyvinyl chloride (PVC) material.
- The digibank EaseMyTrip Green Debit Card provides exclusive travel-related offers to customers and rewards them for adopting eco-friendly practices while encouraging them to reduce their carbon footprint.
- The card offers best-in-class deals on bookings made through the EaseMyTrip website and mobile app, offering a 10% discount up to ₹2000 on flight ticket bookings and up to 17% discount on stays at select eco-friendly hotels & resorts.
BUSINESS & ECONOMY
ICRA cuts FY23 GDP growth forecast to 7.2%
Ratings agency Icra sharply lowered India’s economic growth forecast for the financial year 2022-23 to 7.2% from 8% estimated earlier as rising fuel and commodity prices due to the Russia-Ukraine conflict are expected to impact domestic demand.
- It has also taken into account the downside risks arising from fresh lockdown in parts of China led by a surge in covid-19 cases.
- The ratings agency also cut the GDP growth for the current fiscal to 8.5% from its earlier forecast and the National Statistical Office’s second advance estimate of 8.9%.
SIDBI releases Rs 837 cr to support MSME cluster projects in Odisha
Small Industries Development Bank of India (Sidbi) has sanctioned a Rs 837-crore support under its cluster development fund scheme to Odisha to help develop 18 MSME infrastructure projects.
- The funding from the nation’s principal financial institution for micro, small and medium enterprises will be to the Odisha Industrial Infrastructure Development Corporation, which is the implementing agency.
ACQUISITIONS & MERGERS
Inox, PVR announce merger; combined entity to be called PVR Inox Ltd
PVR and Inox Leisure have announced the merger to create the largest multiplex chain in the country.
- The combined entity will be named PVR INOX Ltd with the branding of existing screens to continue as PVR and INOX, respectively. New cinemas opened post the merger will be branded as PVR INOX.
- PVR and Inox merger will create a multiplex behemoth with a network of 1,500+ screens across India. As per the agreement, the swap ratio is 3:10 i.e., 3 shares of PVR for 10 shares of Inox.
Axis Bank, HDFC Bank, ICICI Bank to acquire up to 15% stake each in India Debt Resolution Co
Private sector lenders Axis Bank and HDFC Bank said they have signed agreements to acquire up to 15 per cent stake each in India Debt Resolution Company Limited (IDRCL) for a total cash consideration of Rs 7.5 crore each.
- IDRCL has been incorporated on 03 September 2021 with the objective to carry on the business as a debt management company and to do all kinds of debt management, operational management and consultancy services in relation to debt resolution for an asset reconstruction company or investment trust or any other portfolio of securities.
13-year-old para-swimmer covers 28.5 km across Palk Strait
Para-swimmer Jiya Rai, who has autism, has created history by swimming 28.5 kilometres in 13 hours. Rai, 13, swam across the Palk Strait from Talaimannar in Sri Lanka to Arichalmunai in Dhanushkodi, Tamil Nadu.
- She has become the youngest and fastest female swimmer of the world to swim across the Palk Strait. The previous record was held with Bhula Chowdhary who swam in 13 hours 52 minutes in 2004.
ILO elects Gilbert Houngbo as its next chief
The International Labour Organization (ILO) elected Gilbert Houngbo, a development expert and former prime minister of Togo, as its next director-general, making him the first African to be appointed to the role in the organisation’s 100-year history.
- Houngbo, 61, was elected by the UN labour agency’s 56-member governing body in the second round, with 30 votes, against 23 for his main opponent, the former French Minister of Labor Muriel Pénicaud, who would have been the first woman to hold the role.
BARC India appoints Shashi Sinha as the chairman
Shashi Sinha, chief executive officer at IPG Mediabrands India, has been elected as the new chairman of Broadcast Audience Research Council (BARC India) by the board following its meeting held.
- Sinha also represents the Advertising Agencies Association of India. He takes over from Punit Goenka, MD & CEO of Zee Entertainment Enterprises who successfully served as the chairman for the last three years.
Uday Kotak to step down as the Chairman of IL&FS
Uday Kotak has announced to step down as the Chairman of the board of the Infrastructure Leasing & Financial Services (IL&FS).
- Uday Kotak has announced to step down as the Chairman of the board of the Infrastructure Leasing & Financial Services (IL&FS), after his term ends on April 2, 2022.
- CS Rajan, Managing Director, IL&FS has been appointed as Chairman and Managing Director for six months with effect from April 3 by the Ministry of Corporate Affairs.
Virat Kohli tops celebrity brand rankings for fifth straight year
Virat Kohli has emerged as the most valued celebrity in India for the fifth year in a row, topping the Duff & Phelps Celebrity Brand Valuation Report 2021 despite seeing a dip in his brand value to $185.7 million last year from a high of $237.7 million in 2020.
- Actor Ranveer Singh bettered his brand equity and climbed a spot higher to the second spot with a brand value of $158.3 million. Swapping positions with him, fellow actor Akshay Kumar slipped to number three with a brand value of $139.6 million.
- At fourth position is another movie star, Alia Bhatt, the youngest celebrity in the top 10 and now the most valued brand ($68.1 million) among female Bollywood actors.
- The resilience of cricketing legend M S Dhoni’s brand was reaffirmed in 2021, a year that saw a huge spike in his value ($61.2 million) from $36.3 million in 2020. He occupied the fifth position.
Meghalaya root bridges enters in UNESCO’s tentative list of World Heritage Sites
The Living Roots Bridge or the Jingkieng Jris, as they are locally called in Meghalaya has been included in the Unesco’s tentative list for the coveted World Heritage Site status.
- As per the reports, the Meghalaya Chief Minister had pitched for UNESCO recognition of the bridges on January 21, 2022, when the hill state marked its 50th year of creation.
Saikhom Mirabai Chanu wins the BBC ISWOTY award
Olympic silver medallist weightlifter Mirabai Chanu won the BBC Indian Sportswoman Of The Year award. Chanu created history last year when she became the first Indian weightlifter to clinch a silver medal at the Summer Olympics.
- Young India opener Shafali Verma was awarded the The ‘BBC Emerging Player’ award.Verma is the youngest female cricketer to have played for India.
- The first Indian woman to have won a medal at the Olympics in 2000, former weightlifter Karnam Malleswari was presented the ‘BBC Lifetime Achievement’ award.
SCIENCE & TECHNOLOGY
MSDE recognises INS Shivaji as the Centre of Excellence in Marine Engineering
In one-of-its-kind recognition for a military institution, the Centre of Excellence for Marine Engineering at INS Shivaji has been recognised by the Ministry of Skill Development and Entrepreneurship (MSDE).
- The recognition will further affirm the formation’s standing for partnering with industry and academia within and outside the country.
- The Centre of Excellence in Marine Engineering was set up at the INS Shivaji in 2014 with a broad mandate of induction of niche technologies for naval applications, undertaking quality research in collaboration with academic and research and development institutes of repute and providing engineering solutions for field level issues.
West Bengal Governor inaugurates IIT Kharagpur’s PARAM Shakti
West Bengal Governor Jagdeep Dhankhar dedicated to the nation Supercomputer PARAM Shakti which will accelerate research and development activities in IIT Kharagpur.
- PARAM Shakti was developed under the National Supercomputing Mission – a joint initiative of the Ministry of Electronics and Information Technology and the Department of Science and Technology.
Former Sikkim CM BB Gurung passes away
Former chief minister of Sikkim BB Gurung died due to old age-related ailments.He was 92.
- BB Gurung was the third chief minister of Sikkim. He sworn-in as Sikkim CM in 1984 and was in office for just 13 days.
- Gurung’s term as CM of Sikkim was the shortest in the history of the Himalayan state.
BOOKS & AUTHORS
NITI Aayog and FAO launch book titled Indian Agriculture Towards 2030
Union Minister of Agriculture and Farmers’ Welfare (MoA&FW), Narendra Singh Tomar has released a book titled “Indian Agriculture towards 2030: Pathways for Enhancing Farmers’ Income, Nutritional Security and Sustainable Food and Farm Systems”, at an event organized by NITI Aayog and the Food and Agriculture Organization (FAO) of the United Nations.
- Union Minister of Agriculture and Farmers’ Welfare (MoA&FW), Narendra Singh Tomar has released a book titled “Indian Agriculture towards 2030: Pathways for Enhancing Farmers’ Income, Nutritional Security and Sustainable Food and Farm Systems”, at an event organized by NITI Aayog and the Food and Agriculture Organization (FAO) of the United Nations.