Daily Current Affairs 8 April 2022 for Banking/Insurance/SSC and other related exams.
9th Edition of India-Kyrgyzstan Joint Special Forces Exercise culminated
The 9th Edition of the India-Kyrgyzstan Joint Special Forces Exercise which commenced on 25th of March at Special Forces Training School, Bakloh, Himachal Pradesh culminated recently.
- Over the past two weeks, Special Forces contingents from India and Kyrgyzstan shared their expertise and best practices of tactics, techniques and procedures to counter existing and emergent threats across the entire spectrum of conflict. Combat shooting, sniping, survival in mountains, hostage rescue drills and unarmed combat were practiced extensively during the Exercise.
Madhya Pradesh CM Shivraj Singh Chouhan launches Mukhyamantri Udyam Kranti Yojana
Chief Minister of Madhya Pradesh, Shivraj Singh Chouhan launched the Mukhyamantri Udyam Kranti Yojana.
According to officials, the MP Mukhyamantri Udyam Kranti plan was announced for the first time in November 2021, as per the MSME department’s gazette announcement.
- The scheme’s unique feature is that the state government would provide a 3% interest subsidy as well as a bank guarantee.
- Young people will be able to apply for loans ranging from Rs. 1 lakh to Rs. 50 lakh under this plan. The proposal is unique in that the state government will provide a 3% interest subsidy in addition to a bank guarantee.
Karnataka CM Bommai sets up ‘Nandini Ksheera Samridhi Sahakara Bank’ to help milk producers
Karnataka Chief Minister, Basavaraj Bommai Establishing the ‘Nandini Ksheera Samridhi Cooperative Bank’ is a revolutionary initiative, which will provide greater financial strength for the milk producers.
- Karnataka is the only state in the country to set up an exclusive bank for milk producers. Union Home Minister Amit Shah launched the logo of “Nandini Ksheera Samurdhi Sahakar Bank”.
- The Milk Producers Cooperatives have a turnover of about Rs. 20,000 crore in various banks every day. This is a special programme to establish their own bank which would provide greater financial aid for them and improve their economic condition.
- The State government provided Rs.100 crore as its share capital and the Milk Federation and Cooperatives would contribute Rs.260 crore as their share of capital for the proposed cooperative bank which would stimulate huge economic activity in the rural hinterland.
MEITY formulates advisory committee for India’s semiconductor mission
The Ministry of Electronics and Information Technology has formed an advisory committee of experts to carry forward the vision of making India a global leader in semiconductor manufacturing, design and innovation.
- The advisory group of experts comprises senior government officials, established academicians, as well as industry and domain experts.
- The Union Cabinet – on December 15, 2021 – cleared the Semicon India Programme with a financial outlay of INR 76,000 crore for the development of semiconductors and display manufacturing ecosystems over the next six years.
- A specialised and dedicated “India Semiconductor Mission (ISM)” has been set up within Digital India Corporation to drive India’s strategies for developing semiconductors and display ecosystem.
Tribal festival Sarhul celebrated in Jharkhand
Sarhul Festival, the most popular tribal celebration across the Jharkhand region, denotes the beginning of the new year. It is enjoyed by the tribal communities of the local Sarna religion, most notably by the Munda, Ho, and Oraon tribes.
- This vibrant festival is celebrated at the beginning of spring every year in the first month of the Hindu calendar, on the third day of the moon or the fortnight of ‘Chaitra’. Travellers across the world visit Jharkhand to glimpse this colourful fiesta of the eastern Indian state. This year it will fall on April 4.
BANKING & FINANCE
PNB makes verification of high-value cheques mandatory to check fraud
In a move to protect customers from large value cheque frauds, Punjab National Bank (PNB) announced that it has made Positive Pay System (PPS) mandatory for the cheque of Rs 10 lakhs and above effective from April 4.
- As per the Positive Pay System (PPS) developed by the National Payments Corporation of India (NPCI), a customer issuing the high-value cheque has to reconfirm some essential details, which are cross-checked while presenting the cheque in clearing before payment.
Union Bank launches super-app UnionNXT, digital project SMBHAV
Union Bank of India launched its super-app named UnionNXT and digital transformation project SMBHAV with an investment outlay of around Rs 1,000 crore for the current financial year 2022-23 (FY23).
- The public sector lender expects recovery from the spending in two years and aims to have 50 per cent business originating on the digital platform by 2025.
- With this it joins the league of super-apps by large lenders such as State Bank of India’s Yono, Bank of Baroda’s Bob world and HDFC Bank’s PayZapp and ICICI Bank’s iMobile.
BUSINESS & ECONOMY
India’s trade deficit rises 88% in FY22: Govt data
For the first time, India’s monthly merchandise exports exceeded USD 40 billion, reaching $40.38 billion in March 2022, an increase of 14.53 per cent over $35.26 billion in the year-ago month
India’s trade deficit rose 87.5 per cent to USD 192.41 billion in 2021-22 as against USD 102.63 billion in the previous year, the government data showed.
- While total exports during last fiscal year increased to a record high of USD 417.81 billion, imports too soared to USD 610.22 billion, leaving a trade gap of USD 192.41 billion.
- The trade deficit in March 2022 was USD 18.69 billion, while it was USD 192.41 billion during entire 2021-22.
ADB projects India’s economy to grow by 7.5% in FY23
Asian Development Bank (ADB) projected a 7% collective growth for South Asian economies in 2022, with India growing by 7.5% in the current fiscal year before picking up to 8% the next year.
- Releasing its flagship Asian Development Outlook (ADO) 2022, the Manila-based multi-lateral funding agency said the growth in South Asia is projected to slow to 7% in 2022, before picking up to 7.4% in 2023.
- ADB said developing Asia’s economies are forecast to grow 5.2% this year and 5.3% in 2023, thanks to a robust recovery in domestic demand and continued expansion in exports.
NTPC, Gujarat Gas ink pact for blending green hydrogen with piped gas
State-run power giant NTPC has inked a pact with Gujarat Gas Ltd for an initiative to blend green hydrogen with the piped natural gas (PNG) supplied by the latter.
- Green hydrogen will be produced by using electricity from the existing 1 MW floating solar project of NTPC Kawas. This will be blended with PNG in a pre-determined proportion and will be used for cooking applications in NTPC Kawas Township.
- This first-of-its-kind project in the country is a step towards the decarbonisation of the cooking sector and self-sufficiency for energy requirements of the nation.
Jio-bp and TVS Motor Company to collaborate on EV solutions
Jio-bp and TVS Motor Company announced that they have agreed to explore the creation of a robust public EV charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp’s growing network in this space.
- Under this proposed partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles.
Serbian president Aleksandar Vučić wins new term by landslide
Serbia’s President Aleksandar Vucic has declared victory in presidential election, after pollsters Ipsos and CeSID predicted that the incumbent leader would win 59.8 percent of the votes.
- Zdravko Ponos, a retired army general representing the pro-European and centrist Alliance for Victory coalition, was projected to come second with 17.1 percent of the votes.
RBI approves reappointment of DCB Bank MD CEO for 2 yrs
The Reserve Bank of India (RBI) has approved the re-appointment of Murli M Natarajan as the managing director and chief executive officer (MD & CEO) of DCB Bank for a period of two years, from April 29, 2022 to April 28, 2024.
- In 2024, he will complete 15 years at the helm of the bank. RBI has capped the tenure of bank chief executives at 15 years.
Ramdarash Mishra selected for Saraswati Samman 2021
Noted poet and litterateur Prof Ramdarash Mishra will be awarded the prestigious Saraswati Samman, 2021, for his collection of poems ‘Mein to Yahan Hun’, the KK Birla Foundation announced in a statement.
- The award carries a citation, a plaque, and a cash prize of ₹15 lakhs. The recipient is chosen by a selection committee, whose current head is Dr Subhash C Kashyap, former secretary-general of the Lok Sabha Secretariat.
- Mishra has excelled in different branches of Hindi literature. In a career spanning decades, the 98-year-old has to his credit 32 collections of poems, 15 novels, 30 short-story collections, 15 books of literary criticism, four collections of essays, travelogues, and several memoirs.
SCIENCE & TECHNOLOGY
Tata Digital unveils super app Tata Neu
Tata Digital, the wholly owned unit of Tata Sons Pvt. Ltd, unveiled the country’s first super app Tata Neu, which allows users to shop across categories ranging from groceries to luxury goods and hotels, combining all the Tata group’s consumer brands on a single platform.
- The super app also offers a suite of financial services, including UPI payments, bill payments, loans and insurance, the company said.
- The super app also provided a rewards program, NeuPass. Members can avail of several benefits like free deliveries, exclusive offers, a built-in credit line, early access to product launches and brand-specific privileges.
China successfully launches new satellite Gaofen-3 03 for Earth Observation
China successfully launched a new Earth observation satellite which will become part of its land-sea radar satellite constellation and capture fine-resolution images to help Beijing safeguard its maritime rights and interests.
- The satellite Gaofen-3 03 was launched from Jiuquan Satellite Launch Centre by a Long March-4C rocket and has entered the planned orbit successfully.
- The satellite will be networked with the orbiting Gaofen-3 and Gaofen-3 02 satellites to form a land-sea radar satellite constellation and capture reliable, stable synthetic aperture radar (SAR) images.
TN CM launches ‘Kaaval Uthavi’ app for public during emergency
Tamil Nadu Chief Minister, M K Stalin has launched the ‘Kaaval Uthavi’ app which helps citizens to seek police assistance during any emergency.
- The app is containing sixty features that are used to send an emergency alert to the police control room.
- By pressing the emergency red button, the user’s live location will be shared with the control room. The user can also identify the nearest police station/patrol vehicle.
BOOKS & AUTHORS
“Birsa Munda – Janjatiya Nayak” book by Prof. Alok Chakrawal
Union Education and Skill Development Minister Shri Dharmendra Pradhan released a book “Birsa Munda – Janjatiya Nayak” written by Prof. Alok Chakrawal, Vice Chancellor, Guru Ghasidas Vishwavidyalaya, Bilaspur.
- The book highlights the struggle of Bhagwan Birsa Munda and the contribution of forest dwellers to the freedom movement.
“Decoding Indian Babudom” authored by Ashwini Shrivastava
The book titled “Decoding Indian Babudom,” written by Ashwini Shrivastava and published by Vitasta Publishing Private Limited, was recently released.
- This is a first-of-its-kind book about India’s bureaucratic structure, written by a journalist. It examines India’s administrative system and government from the average man’s perspective.
‘The Maverick Effect’ book by Harish Mehta
The book titled ‘The Maverick Effect’ written by Harish Mehta has been released recently.
- The Maverick Effect reveals the forgotten story of how a “band of visionaries” came together in the 1970s and 1980s to form NASSCOM and pave the path for India’s IT revolution.
- The Maverick Effect is a complete and accurate biography of NASSCOM as told by one who oversaw the organization’s founding in 1988 and had been tending it like a cherished kid for the past 33 years.