Daily Current Affairs 6 April 2022 for Banking/Insurance/SSC and other related exams.
Centre allocates Rs 9289 cr to J&K Jal Jeevan Mission
The Union Government, in its objective to give a push to Jal Jeevan Mission in Jammu and Kashmir, has allocated a whopping sum of over Rs 9289 crore to the UT under Jal Jeevan Mission 2022-23, which is nearly more than double to its previous year budget.
- This substantial increase in JJM budgets every year is reflective of the concern and seriousness of the government towards materializing its commitment of providing tap water connections to every household and capacity building of Water Quality Management through testing, monitoring and surveillance”.
Delhi government launched scheme to set up ‘Hobby Hubs’ in government schools
To promote extracurricular activities, the Delhi government has established Hobby Hubs for government schools in Delhi after school hours. This project will be carried out in a single shift government school.
- During the new academic session, a project to establish ‘Hobby Hubs’ in government schools in Delhi with after-school dance, music, arts, and crafts activities is in the works.
13 new districts inaugurated in Andhra Pradesh
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy virtually inaugurated 13 new districts in the state. The state now has 26 districts, double the earlier number of 13.
- The new districts are: 1) Parvathipuram Manyam, 2) Anakapalli, 3) Alluri Seetharama Raju, 4) Kakinada, 5) Konaseema, 6) Eluru, 7) Palnadu, 8) Bapatla, 9) Nandyala, 10) Sri Sathya Sai, 11) Sri Balaji, 12) Annamaya, and 13) NTR.
BANKING & FINANCE
RBI fixes WMA limit for states at Rs 47010 cr
The Reserve Bank has decided to reduce the Ways and Means Advances (WMA) for States Governments and Union Territories (UTs) from Rs 51,560 crore to Rs 47,010 crore, considering improvement in the pandemic situation.
These norms will be effective from April 01, 2022.
- RBI had raised the WMA limit to Rs 51,560 crore for all States/UTs in October 2021, due to the uncertainties related to Covid-19. The higher WMA was applicable till 31 March 2022.
- WMA limit of Rs 47,010 crore was recommended by the Advisory Committee on Ways and Means Advances to State Governments, Chaired by Shri Sudhir Shrivastava.
SBI signs MoU with BSF to provide curated benefits
State Bank of India (SBI) has signed a Memorandum of Understanding (MoU) with the Border Security Force to offer special benefits to the serving and retired BSF personnel and family pensioners through the Central Armed Police Salary Package (CAPSP) Scheme.
- The MoU will ensure extensive benefits to the security forces including complimentary Personal and Air Accidental Insurance (Death) cover, additional cover in case of on-duty death, and Permanent Total Disability / Partial Disability cover. The MoU will support child education and the marriage of girl children of deceased BSF personnel.
- The retired personnel will be eligible for complimentary Personal Accidental (Death) Insurance, irrespective of age, whereas family pensioners will be eligible for a bouquet of benefits.
BUSINESS & ECONOMY
ADB Projects India’s Economy to Grow by 7.5 pc in FY23; to Pick Up to 8 pc Next Fiscal
The Asian Development Bank projected a seven per cent collective growth for South Asian economies in 2022 with the subregion’s largest economy India growing by 7.5 per cent in the current fiscal year before picking up to eight per cent the next year.
- Releasing its flagship Asian Development Outlook (ADO) 2022, the Manila-based multilateral funding agency said the growth in South Asia is projected to slow to seven per cent in 2022, before picking up to 7.4 per cent in 2023.
- ADB said developing Asia’s economies are predicted to grow by 5.2 per cent this year and 5.3 per cent in 2023, thanks to a robust recovery in domestic demand and continued expansion in exports.
HAL Ties Up with Israel Aerospace Industries to Convert Civil Aircraft to Multi Mission Tanker Transport Aircraft
Hindustan Aeronautics Limited has entered into an MoU with Israel Aerospace Industries (IAI) to convert Civil (Passenger) aircraft to Multi Mission Tanker Transport (MMTT) aircraft in India.
- Under the pact, HAL will convert pre-owned Civil (Passenger) aircraft into air refueling aircraft with cargo and transport capabilities, the Bengaluru-headquartered company said.
- The move will provide India’s defense ecosystem with new capabilities and cost effective solutions in the market.
Flipkart launches ‘Foundation’ to support stakeholder ecosystem
E-commerce giant Flipkart said that it has constituted Flipkart Foundation with a focus on supporting improved market access for under-served communities, entrepreneurship, skill development, community development, livelihood opportunities, and environmental responsibility initiatives in India.
- The Foundation aims to impact 20 million lives directly and indirectly over the next decade, Flipkart said in a statement.
- The Foundation will carry forward Flipkart Group’s efforts towards bringing opportunities for ecosystem partners and convenience to stakeholders through a technology-led digital commerce model.
GST collection at all-time high of Rs 1.42 lakh crore in March
In silver lining for the economy, the highest ever GST has been collected in the month of March. The collection of Goods and Services Tax (GST) stood at Rs 1,42,095 crore, breaching the earlier record of Rs 1,40,986 crore collected in January 2022.
- The revenues for March 2022 are 15% higher than the GST revenues in the same month last year and 46% higher than the GST revenues in March 2020.
- During the month, revenues from the import of goods were 25% higher and the revenues from domestic transactions (including imports of services) were 11% higher than the revenues from these sources during the same month last year.
ACQUISITIONS & MERGERS
HP acquires Poly with the goal of becoming a full-service hybrid work ecosystem provider
HP has completed its acquisition of Poly for $1.7 billion in an all-cash deal worth $3.3 billion when debt is factored in.
- Poly is a manufacturer of office communication devices such as headsets, AV conference room equipment such as desk phones, and software.
- The decision comes eight months after HP acquired Teradici, a remote desktop software supplier, with the goal of accelerating HP’s entrance into hybrid work. The resulting ecosystem will be able to deliver entire workforce solutions in a hybrid work environment that necessitates seamless transitions between office and home settings.
Mortgage lender HDFC, HDFC Bank announce merger
India’s largest private lender HDFC Bank will merge with housing finance firm HDFC Ltd, the companies said.
- Shareholders of HDFC Ltd will receive 42 shares of the bank for 25 shares held. Existing shareholders of HDFC Ltd will own 41 per cent of HDFC Bank. Shares held by the housing finance company in the lender will be extinguished, making HDFC Bank a full-fledged public company.
- HDFC Bank will be 100 per cent owned by public shareholders. Existing shareholders of HDFC Ltd will own 41 per cent of HDFC Bank. The transaction is expected to be completed in 18 months, subject to regulatory approvals.
Carlos Alcaraz becomes first Spaniard to win Miami Open Title
Spanish teenager Carlos Alcaraz became the youngest man to win the prestigious Miami Open when he defeated World No. 8 Casper Ruud 7-5, 6-4 in the men’s singles final.Alcaraz, 18, replaced Novak Djokovic as the youngest men’s singles champion at the Masters 1000 tournament.
- The 18-year-old Alcaraz earned his first ATP Masters 1000 crown and is the first Spanish man to triumph in Miami after eight previous final appearances by his compatriots, including five by Rafa Nadal.
Vice chief Lt Gen Manoj Pande all set to become new Army chief
Army Vice Lieutenant General Manoj Pande is all set to become Chief of the Army Staff with incumbent Army Chief General M.M. Naravane, seen as the frontrunner for the Chief of Defence Staff’s post, is due to retire by the end of this month.
- Lt Gen Pande will take over the reign as he is the senior most in the force after General Naravane.
- In the meantime, Gen Naravane is the front runner for the post of Chief of Defence Staff after the passing of General Bipin Rawat in a helicopter crash December last year.
Vinay Mohan Kwatra appointed as India’s new Foreign Secretary
The Indian government appointed senior Indian Foreign Service officer Vinay Mohan Kwatra as the new foreign secretary.
- Kwatra, a 1988-batch IFS officer, is currently serving as Ambassador in Kathmandu since January 2020.
- He will replace incumbent Foreign Secretary Harsh Vardhan Shringla, a 1984-batch IFS officer.
Journalist Aarefa Johari wins Chameli Devi Jain Award
Mumbai-based journalist, named Aarefa Johari was selected as the winner of the Chameli Devi Jain Award for an Outstanding Female Media person for the year 2021.
- It was announced by the Media Foundation. Aarefa Johari works for ‘Scroll. in’ in Mumbai, Maharashtra. In 2020, Neetu Singh got this award. She is associated with ‘Goan Connection’ media house. Jury: Nirupama Subramania, Githa Hariharan and Ashutosh.
64th Grammy Awards 2022
The 64th Grammy Awards were given out in Las Vegas. During the show’s pre-telecast ceremony, Jon Batiste won for best American roots performance, best American roots song, best music video and tied with Carlos Rafael Rivera for best score soundtrack for visual media. His song “Freedom” in the music video category beat out several other tough competitors, including Olivia Rodrigo, Lil Nas X and Billie Eilish.
- Jon Batiste received the most nominations with eleven and Batiste also received the most awards with five.
Winner list of Grammy Awards :
- Album Of The Year:‘We Are’ by Jon Batiste
- Record Of The Year: ‘Leave the door open’ by Bruno Mars and Anderson Paak
- Best New Artist;Olivia Rodrigo
- Best Rap Album:“Call Me If You Get Lost,” Tyler, the Creator
- Best R&B Album Winner:“Heaux Tales,” Jazmine Sullivan.
- Best Rap Song:“Jail,” Kanye West featuring Jay-Z
- Best Country Album: “Starting Over,” Chris Stapleton
- Song Of The Year: “Leave the Door Open,” Silk Sonic (Brandon Anderson, Christopher Brody Brown, Dernst Emile II and Bruno Mars)
- Best Rock Album: “Medicine at Midnight,” Foo Fighters
- Best Rock Song: “Waiting On a War,” Foo Fighters
- Best Dance/Electronic Album “Subconsciously,” Black Coffee
- Producer of the Year, non-classical: Jack Antonoff
- Best Music Video:“Freedom,” Jon Batiste
- Best Country Song;“Cold,” Chris Stapleton
- Best Folk Album:“They’re Calling Me Home,” Rhiannon Giddens with Francesco Turrisi
- Best Comedy Album: “Sincerely Louis CK,” Louis C.K.
- Best rap performance:“Family Ties,” Baby Keem featuring Kendrick Lamar
- Best rock performance :“Making a Fire,” Foo Fighters
- Best music film: “Summer of Soul”
- Best musical theater album:“The Unofficial Bridgerton Musical”
- Best global music: “Mohabbat,” Arooj Aftab
- Best global music album:“Mother Nature,” Angélique Kidjo
- Best historical album: “Joni Mitchell Archives, Vol. 1:The Early Years (1963-1967)
- Best Pop Duo / Group Performance: Doja Cat and SZA for “Kiss Me More”
- Best American roots performance: “Cry,” Jon Batiste.
HDFC Bank adjudged best performing bank in SHG linkage by NRLM, Ministry of Rural Development
HDFC Bank has been adjudged the Best Performing Bank in SHG Linkage by the National Rural Livelihood Mission (NRLM), Ministry of Rural Development, Government of India.
- Notably, HDFC Bank was the only Private Bank to be felicitated for remarkable work in SHGs – by the National Rural Livelihood Mission (NRLM).
- As part of NRLM, HDFC Bank provides access to financial services to over 4.5 lakh individuals in unbanked and underbanked sections of society. The Bank has signed MoUs with the State Rural Livelihood Mission of six states, namely Assam, Chhattisgarh, Maharashtra, Punjab, Rajasthan, and Uttar Pradesh.
Pulitzer Prize-winning poet Richard Howard passes away at 92
Richard Howard, a Pulitzer Prize-winning poet celebrated for his exuberant monologues of historical figures and a prolific translator who helped introduce readers to a wide range of French literature, has died at age 92.
- Over a 50-year period, Howard’s poetry, essays and translations totaled well over 200 books and established him as a vital literary creator, commentator and interpreter.
- He won the poetry Pulitzer in 1970 for “Untitled Subjects” and was a National Book Award finalist in 2008 for “Without Saying.” His translation of Charles Baudelaire’s “Les Fleurs du Mal” won the National Book Award (then called the American Book Award) in 1983.
BOOKS & AUTHORS
“Queen of Fire” book by Devika Rangachari
The new novel titled “Queen of Fire” authored by an award-winning children’s writer and historian, Devika Rangachari has been released recently.This novel explores the story of Rani Lakshmibai of Jhansi.
- The book focuses on the journey of Rani Lakshmibai as a queen, soldier, and statesman. The book provides a detailed account on how the queen took over the kingdom as a widow and joined the revolutionaries to rebel against the East India Company.