Daily Current Affairs 6 June 2022 for Banking/Insurance/SSC and other related exams.
SC bans mining within 1-km radius of national parks, wildlife sanctuaries
The Supreme Court ordered that mining within the national parks and wildlife sanctuaries shall not be permitted.
- Besides this, the top court also directed that each protected forest, that is a national park or wildlife sanctuary, must have an eco-sensitive zone of a minimum of one kilometre measured from the demarcated boundary of such protected forest in which the activities proscribed and prescribed in the Guidelines of February 9, 2011, shall be strictly adhered to. For the Jamua Ramgarh wildlife sanctuary, it shall be 500 metres so far as subsisting activities are concerned, the Court said.
- These directions were passed by a Bench of Justices L Nageswara Rao, BR Gavai and Aniruddha Bose.
PM Modi launches Global initiative ‘Lifestyle for Environment (LiFE) Movement
Prime Minister Shri Narendra Modi launched a global initiative ‘Lifestyle for the Environment – LiFE Movement’ via video conference.
- The launch will initiate ‘LiFE Global Call for Papers’ inviting ideas and suggestions from academics, universities & research institutions etc to influence and persuade individuals, communities and organisations across the world to adopt an environment-conscious lifestyle.
- The idea of LiFE was introduced by the Prime Minister during the 26th United Nations Climate Change Conference of the Parties COP-26 in Glasgow last year. The idea promotes an environment conscious lifestyle that focuses on mindful and deliberate utilisation instead of mindless and destructive consumption.
Global plastic waste set to almost triple by 2060, says OECD
The global usage of plastic is set to increase by three fold by the year 2060, according to the Organisation for Economic Co-operation and Development (OECD) report released.
- The world that is wrecked by severe plastic pollution, has taken up several measures to combat the the use of plastic and improve efficiencies is in turn about to witness the plastic usage get double in almost less than 40 years.
- Annual production of fossil-fuel-based plastics are set to top 1.2 billion tonnes by 2060 and waste to exceed one billion tonnes, according to OECD.
- However, experts have alerted that globally coordinated policies could hugely boost the share of future plastic waste that is recycled, from 12 to 40%.
India-Bangladesh joint exercise ‘SAMPRITI-IX’ begins
As part of the ongoing India Bangladesh bilateral defence cooperation, a joint military training exercise Ex SAMPRITI-X is being conducted at Jashore Military Station in Bangladesh from 05 June to 16 June 2022.
- Exercise SAMPRITI is an important bilateral defence cooperation endeavour conducted alternately by both countries which aims to strengthen and widen the aspects of interoperability and cooperation between both the armies.
- The aim of the exercise is to strengthen interoperability between the two armies and to understand each other’s tactical drills and operational techniques
BANKING & FINANCE
Kotak Bank arm launches investment platform ‘Cherry’
Kotak Investment Advisors, a subsidiary of Kotak Mahindra Bank, has launched ‘Kotak Cherry’ — a curated open architecture investment management platform.
- Customers can make investments using their existing digital broking and banking services.
- The platform will offer investing solutions to users via an app backed by investment managers. KotakETFs) and realty through real estate investment trusts.
India’s digital payments market will triple to $10 trillion by 2026: PhonePe-BCG study
India’s digital payment market is expected to more than triple to $10 trillion by 2026, according to the latest study by digital payments firm PhonePe and Boston Consulting Group (BCG).
- At present, the study said, 40% of all transactions in India are digital, and payments worth $3 trillion were processed by digital instruments in 2021. This does not include payments made for financial services, corporate business payments, and government payments.
- India’s Unified Payments Interface (UPI) continues to grow, clocking 5.95 billion transactions worth Rs 10.41 lakh crore last month. UPI has supercharged India’s transition to non-cash payments, especially in person-to-person (P2P) fund transfers and low-value merchant (P2M) payments.
Kiya.ai Launches India’s First Banking Metaverse, Kiyaverse
Kiya.ai, a Mumbai-based fintech company, has launched India’s first banking Metaverse, Kiyaverse, which will be used by banks and non-banking finance companies (NBFCs) to enable virtual interactions.
- Kiyaverse will be rolled out in phases. In the first phase, the banking Metaverse will offer services such as virtual relationship managers, peer avatars and virtual advisors called Rob-advisors.
- Over the next few phases, Kiya.ai plans to have NFTs as tokens and support central bank digital currencies (CBDCs) for transactions. The company said that Kiyaverse will also interface open API connectors with aggregators and gateways, creating a banking super app and a marketplace in the Kiyaverse.
BUSINESS & ECONOMY
Bengaluru-based private firm joins Nasa’s PACE Mission
Datair Technology Pvt Ltd (Ambee), a global platform for hyperlocal and geospatial datasets on air quality, weather, pollen, soil, water vapor, fire, and more, has joined NASA’s PACE Mission as an early adopter.
- PACE elongates to the Plankton, Aerosol, Cloud, ocean Ecosystem (PACE) mission developed by NASA to be a low orbit satellite gathering geospatial data.
- The PACE mission, scheduled to launch in 2024, will add to NASA’s existing satellite observations of global ocean biology and aerosols, continuing the analysis of global ocean health and atmospheric quality.
SBI Research revises up India’s FY23 economic growth forecast to 7.5%
SBI Research has projected the Indian economy to grow at 7.5 per cent in 2022-23, an upward revision of 20 basis points from its earlier estimate.
- As per official data, the economy grew by 8.7 per cent in FY22, net adding Rs 11.8 lakh crore in the year to Rs 147 lakh crore, the report said, adding this was however only 1.5 per cent higher than the pre-pandemic year of FY20.
- Given the high inflation and the subsequent upcoming rate hikes, we believe that real GDP will incrementally increase by Rs 11.1 lakh crore in FY23. This still translates into a real GDP growth of 7.5 per cent for FY23, up by 20 basis points over our previous forecast.
ACQUISITIONS & MERGETS
Tata Motors to acquire Ford’s Sanand plant
Tata Motors’ subsidiary Tata Passenger Electric Mobility Ltd (TPEML) signed a tripartite memorandum of understanding (MoU) with Ford India Pvt Ltd (FIPL) and the Government of Gujarat for taking over Ford’s passenger vehicle-manufacturing plant in Sanand.
- This will help Tata Motors accelerate the enhancement of its capacity to make personal vehicles (PVs) and electric vehicles (EVs).
- This unit is adjacent to the existing manufacturing facility of Tata Motors’ PV unit in Sanand, which should help in a smooth transition, said Shailesh Chandra, managing director, TPEML.
French Open 2022 overview
French Open Tennis, World Number One Iga Swiatek of Poland won the French Open 2022 Women’s Singles Title by beating US teenager Coco Gauf in Paris this evening. The Pole clinched her second title in three years in straight sets 6-1, 6-3 over Gauff who was making her first final appearance at the clay-court Slam.
- Rafael Nadal made it 14 wins from as many finals at Roland Garros after he defeated eight seed Norwegian Casper Ruud in the French Open men’s singles final. This isthe first player to win 22 Grand Slam titles in the men’s singles competition. This is the first time that Nadal has won the Australian Open and the French Open together this year.
- Marcelo Arevalo of El Salvador became Central America’s first Grand Slam champion when he teamed with Jean-Julien Rojer of the Netherlands to win the French Open men’s doubles title.The 12th seeds saved three match points in defeating Ivan Dodig of Croatia and Austin Krajicek of the United States 6-7 (4/7), 7-6 (7/5), 6-3 in a little over three hours.
- France’s Caroline Garcia and Kristina Mladenovic have earned their second women’s doubles championship at Roland Garros as a team with a 2-6, 6-3, 6-2 victory over the American pairing of singles runner-up Coco Gauff and Jessica Pegula.
- Japan’s Ena Shibahara and Wesley Koolhof of the Netherlands claimed their maiden Grand Slam title when they beat Norway’s Ulrikke Eikeri and Joran Vliegen of Belgium 7-6(5), 6-2 to win the French Open mixed doubles final.
SAI DG Sandip Pradhan gets extension up to September 2024
Sports Authority of India Director General Sandip Pradhan was granted a tenure extension of more than two years in his present capacity by the Government of India.
- Pradhan, an Indian Revenue Services officer of 1990 batch, was to end his current tenure on July 6 but has been granted an extension till September 30, 2024 by the Appointments Committee of the Cabinet.
Delhi Election Body appoints Cricketer Yash Dhull as State Icon
Delhi Election Commission appointed Cricketer Yash Dhull as the State Icon for NCT of Delhi to motivate youngsters to get enrolled to exercise their right to vote.
- The Indian Cricketer and ECI State Icon for NCT of Delhi called on Dr Ranbir Singh, Chief Electoral Officer (CEO) of Delhi.
- During the meeting, various issues related to electoral registration, especially for young and new voters, and the role of Yash Dhull to educate and motivate the youngsters to enrol themselves in the electoral roll were discussed.
Appointment of managing directors at three PSBs gets govt’s approval
The Centre has approved the appointment of managing directors (MDs) of Union Bank of India (UBI), Indian Overseas Bank (IOB), and Punjab & Sind Bank.
- The Appointments Committee of the Cabinet has approved the proposal of the Department of Financial Services to appoint A Manimekhalai as MD and Chief Executive Officer (CEO) of UBI, Swarup Kumar Saha as MD and CEO of Punjab & Sind Bank, and Ajay Kumar Srivastava as MD and CEO of IOB.
- The appointments are in line with the recommendations made by the Banks Board Bureau. The BBB had recommended Manimekhalai, Saha, and Srivastava as chiefs of the three lenders in March. Three of them were shortlisted by BBB after interviewing 15 candidates for the job.
Mukesh Ambani surpasses Gautam Adani, becomes Asia’s richest man again
Reliance Industries chairman Mukesh Ambani regained the tag of being Asia’s richest person with a net worth of $99.7 billion. He surpassed Adani Group chief Gautam Adani who had held the position since the past few months as shares of his company soared.
- On Bloomberg Billionaires Index, Ambani bagged the 8th spot while, Adani slipped to the 9th position with a total wealth of $98.7 billion.
- However, even with Adani being richer than Ambani, Reliance Industries continued to be India’s most valuable company, with an 80 per cent jump in its value in last 2 years.
Salman Rushdie and Quentin Blake made Companions of Honour
Famous faces in showbiz, sport and politics have been recognised in the Queen’s Birthday Honours list, with recipients this year said to reflect the monarch’s “invaluable” qualities before her Platinum Jubilee.
- There are top honours for English-Indian author Salman Rushdie and illustrator Quentin Blake, who are made Companions of Honour for services to literature and illustration respectively.
- Elsewhere in showbiz, Homeland actor Damian Lewis, presenter Clare Balding and fashion designer Stella McCartney are made Commander of the Order of the British Empire, or CBEs.
- MBEs are to be served up to MasterChef duo John Torode and Gregg Wallace for services to food and charity.Ian Rankin, author of the Inspector Rebus novels and winner of several national and international awards, is knighted for services to literature and charity.
Tone Tag emerges winner in 2 categories of RBI’s first global hackathon
ToneTag, voice-based commerce and payments solution provider announced it has successfully participated and won in two categories in RBI’s first global hackathon, “HARBINGER 2021 – Innovation for Transformation”.
- The Bangalore-based company uses audio technology to enable voice-based communication and payment services, has aced two categories – Non-mobile Digital Payment Solutions and Context-based Retail Payment Solutions.
- The event registered participation from 363 organisations globally with only 24 making it to the final round.
SCIENCE & TECHNOLOGY
Andhra Pradesh government launches ‘ACB 14400’ to report corrupt officials with proof
Andhra Chief Minister Jagan Mohan Reddy launched the ‘14400’ app developed by Anti-Corruption Bureau (ACB), dedicated for people to register corruption-related complaints against the officials in the state, and to ensure fool-proof evidence to present before the court.
- The ACB developed the app on the directions of the Chief Minister as many of these complaints could not be backed with evidence, thus the case standing weak. Hence, to make it simpler for people, a sophisticated app has been designed to aid the people in reporting corruption.
- Just like the Disha App, the ACB app is designed to aid people in registering complaints using modern information technology and maintain transparency. The complainant can record audio, video, and photo evidence, while registering the complaint.