Daily Current Affairs 9 April 2022 for Banking/Insurance/SSC and other related exams.
Cabinet approves extension of Atal Innovation Mission till March 2023
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the continuation of Atal Innovation Mission (AIM), till March 2023.
- The AIM shall work on its intended target of creating an innovation culture and entrepreneurial ecosystem in the country.
- This will be done by AIM through its various programmes and under intended targets that will be achieved by AIM are: establishing 10,000 Atal Tinkering Labs (ATLs),establishing 101 Atal Incubation Centres, establishing 50 Atal Community Innovation Centres, and supporting 200 start-ups via the Atal New India Challenges.
Ministry of Information and Broadcasting constitutes AVGC promotion task force
The Ministry of Information and Broadcasting (I&B) has constituted an Animation, Visual Effects, Gaming and Comics (AVGC) Promotion Task Force.
- The secretary of I&B,Apurva Chandra will head the task force, which will submit its first action plan within 90 days.
- The The creation of an AVGC Promotion Task Force with the participation of Government of India, State Governments and key industry players will provide focused thrust for the growth of the sector by driving the institutional efforts to guide the policies of growth for this sector, establish standards for AVGC education in India, actively collaborate with industry and international AVGC institutes, and enhance the global positioning of the Indian AVGC industry.
NCW launches anti-human trafficking cell amid Covid-induced case spurt
The National Commission for Women launched an anti-human trafficking cell to improve the effectiveness in tackling cases of human trafficking, raising awareness among women and girls, capacity-building and training of anti-trafficking units and to increase responsiveness of law enforcement agencies.
- The Cell will raise awareness among law enforcement officials and facilitate their capacity-building.
- It will also conduct gender sensitisation trainings workshops in combating human trafficking for police officers and for prosecutors at the regional, state and district levels.
UGC approves setting up of Bhima Bhoi Chair at DU, GGV
The University Grants Commission has approved setting up of the Bhima Bhoi Chair at Delhi University and Guru Ghasidas Vishwavidyalaya in Chhattisgarh’s Bilaspur.
- In separate letters to the two central universities, the UGC said that the varsities may create the Chair by utilising the already available vacant positions and other recurring expenditure may be charged to funds already being released to them.
AAI launches ‘AVSAR’ Scheme to provide platform to SHGs
The Airport Authority of India (AAI) has launched an initiative “AVSAR(Airport as Venue for Skilled Artisans Of The Region)” to encourage the talent of women, artisans and craftsmen and provide them with the right opportunities.
- Under AVSAR initiative, AAI will allocate space to Self Help Groups (SHGs) at its airports for selling/showcasing the self-made products of their region.
- An area of 100-200 square feet has been earmarked at each AAI operated airport for this.
- The space will be allotted to the self- help groups, turn on turn basis, for a duration of 15 days.
BANKING & FINANCE
RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank
The Reserve Bank of India (RBI) imposed, by an order as on 7 April 2022, a monetary penalty of Rs 93 lakh on Axis Bank for the non-compliance of certain directions issued by RBI.
- As per RBI’s press release, this action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
Sebi constitutes working groups to review roles of sponsors, trustees of MFs
To facilitate growth and innovation in the mutual fund industry, the Securities and Exchange Board of India (Sebi) formed two working groups to review the role, eligibility and obligations of sponsors and trustees of asset management companies.
- A sponsor establishes a mutual fund, along with any individual or body corporate, while the main role of a trustee is to ensure that the interest of the unit holders is protected.
- Accordingly, a working group has been constituted under the chairmanship of A. Balasubramanian, managing director and chief executive officer of Aditya Birla Sun Life AMC Ltd and chairman of the Association of Mutual Funds in India (Amfi),while the other group constituted to streamline the role and obligations of trustees of MFs will be headed by Manoj Vaish, Independent Trustee of Mirae Mutual Fund.
- The other members of the working group are J. Ranganayakulu, ex-executive director, Sebi and consultant; Cyril Amarchand Mangaldas; Nilesh Vikamsey; Khimji Kunverji & Co LLP Chartered Accountants; D P Singh, chief business officer, SBI Funds Management Ltd; and Alok Mundra, partner, EY India.
RBI Monetary Policy: Repo rate unchanged at 4% for the 11th consecutive time
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged at 4 per cent for the eleventh consecutive time while maintaining an ‘accommodative stance’, RBI Governor Shaktikanta Das announced.
- The reverse repo rate also was kept unchanged at 3.35 per cent. The Marginal Standing Facility (MSF) rate and bank rate also were kept unchanged at 4.25 percent.CRR at 4% and SLR at 18%.
- The RBI slashed the growth projection for the current fiscal to 7.2 per cent from 7.8 per cent earlier; while raising the inflation forecast to 5.7 per cent from 4.5 per cent.
- On the inflation rate forecast, Shaktikanta Das said inflation is now projected at 5.7 per cent in 2022-23, with Q1 at 6.3 per cent, Q2 at 5.8 per cent, Q3 at 5.4 per cent and Q4 at 5.1 per cent.
- RBI announced that now people can withdraw money from ATMs without a card in all banks across the nation. This has been done to give a push to Digital India.
- Net worth requirement for Bharat Bill Payments System Operating Units lowered from Rs 100 crore to Rs 25 crore.
- Rationalisation of risk weights for individual housing loans to be extended till March 31, 2023.
- RBI sees the Current account deficit at sustainable levels and forex reserves at $606.5 billion.
- Inflation is now projected at 5.7% in 2022-23 with Q1 at 6.3%, Q2 at 5%, Q3 at 5.4% and Q4 at 5.1%.
- India’s 10-year bond yield rises to 7%, the highest since 2019.
World Bank, AIIB to give Rs 7,500 cr loan for Guj govt’s Mission School of Excellence project
The World Bank and Asian Infrastructure Investment Bank (AIIB) will provide a loan of Rs 7,500 crore for the Gujarat government’s Mission School of Excellence project that aims to improve the quality of education in the state, an official said.
- Under the Mission School of Excellence project, the state government will spend Rs 10,000 crore in the next five years and cover all 35,133 government and 5,847 grant-in-aid schools in the state.
- The funds will be spent on building 50,000 new classrooms, creating 1.5 lakh smart classrooms, 20,000 new computer labs and 5,000 tinkering labs in 41,000-odd government and grant-in-aid schools across the state. It is estimated that nearly one crore school students will benefit directly from this ambitious project in the next five years.
BUSINESS & ECONOMY
India’s agriculture exports cross $50 billion mark for first time
Indian bananas and baby corn have got market access in Canada, making it possible to further extend the country’s export earnings from farm products that reached the highest level ever by crossing $50 billion (approx. Rs 3,76,575 crore) in 2021-22.This would be the highest level ever achieved for agriculture exports.
- The provisional data of DGCI&S showed that the agricultural exports have grown by 19.92% during 2021-22 to touch $ 50.21 billion. The growth rate is remarkable as it is over and above the growth of 17.66%, at $41.87 billion, achieved in 2020-21 and has been achieved in spite of unprecedented logistical challenges in the form of high freight rates, container shortages, etc.
- As per the data, the highest ever exports have been achieved for staples like rice (% 9.65 billion), wheat ($ 2.19 billion), sugar ($ 4.6 billion), and other cereals ($ 1.08 billion). Wheat has recorded an unprecedented growth of more than 273%, jumping nearly four-fold from $ 568 million in 2020-21 to touch close to $ 2119 million in 2021-22.
- An increase in exports of these products has benefitted farmers in states like Punjab, Haryana, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh, Madhya Pradesh, Telangana, Andhra Pradesh, Maharashtra, etc. India has captured nearly 50% of the world’s market for rice.
Amazon signs on launch partners for space internet
Amazon has announced agreements with three companies – Arianespace, Blue Origin, and United Launch Alliance (ULA), to deploy the majority of its Project Kuiper satellites that aim to provide high-speed, low-latency broadband to a wide range of customers across the globe.
- The tech giant has secured a total of up to 83 launches over a five-year period, which according to the company, is the largest commercial procurement of launch vehicles in history.
- The contracts include 18 launches with Arianespace’s Ariane 6 rockets, 12 launches using Jeff Bezos-owned Blue Origin’s New Glenn, with options for up to 15 additional launches, and 38 launches on Vulcan Centaur, ULA’s newest heavy-lift launch vehicle.
Infosys and Rolls-Royce jointly launch ‘Aerospace Engineering and Digital Innovation Centre’
Infosys, a global leader in digital services and consulting, and Rolls-Royce, leading industrial technology company, have inaugurated their joint Aerospace Engineering and Digital Innovation Centre in Bengaluru.
- The centre has been set up to provide high-end R&D services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India.
13-year-old Riya Jadon wins 11th DGC Ladies Open Amateur Golf Championship
Thirteen-year-old Riya Jadon won the DGC Ladies Open Amateur Golf Championship, following a close fight with older sister Lavanya Jadon.
- Riya, who carded 78, 80 and 74, also won the junior girls trophy. Over a hundred women golfers took part in this year’s tournament, which resumed at the Delhi Golf Club after a two-year hiatus.
Haunting Canada boarding school shot wins World Press Photo of the year 2022
A haunting image of red dresses hung on crosses along a roadside, with a rainbow in the background, commemorating children who died at a residential school created to assimilate Indigenous children in Canada won the prestigious World Press Photo award.
- The image was one of a series of the Kamloops Residential School shot by Canadian photographer Amber Bracken for The New York Times.
- Australian photographer Matthew Abbott won the Photo Story of the Year prize for a series of images for National Geographic/Panos Pictures,the Long-Term Project award went to Lalo de Almeida of Brazil for a series of photos for Folha de São Paulo/Panos Pictures called “Amazonian Dystopia.
QS World University Rankings By Subject 2022: Five IIT Delhi Programmes Feature In Top 100
QS Quacquarelli Symonds released the 12th edition of the QS World University Rankings by Subject 2022, the subject-wise rankings of institutes across the world are compilations of multiple lists. The QS World University Rankings by Subject are compiled annually to help prospective students identify the leading universities in a particular subject.
Top institutes under each category:
- Arts and Humanities:University of Oxford(UK)
- Engineering and Technology:Massachusetts Institute of Technology (USA)
- Life Sciences & Medicine:Harvard University (USA)
- Natural Sciences:Massachusetts Institute of Technology (MIT)(USA)
- Social Sciences & Management:Harvard University(USA)
- Indian Institute of Technology(IIT)-Bombay ranked 65th and Indian Institute of Technology (IIT)- Delhi ranked 72nd, are the only Indian institutes to be featured among the top 100 ranks under the Engineering and Technology category. IIT Bombay has scored 79.9 and IIT Delhi has scored 78.9.
Top 3 QS World University Rankings 2022:
1.Massachusetts Institute of Technology (MIT),
2.The University of Oxford,
3.Stanford University & the University of Cambridge.
Forbes Billionaires 2022: The Richest People In The World
Forbes has released the list of the top 200 richest people in the world recently with India’s Mukesh Ambani and Gautam Adani making it to the 10th and 11th spots. India is proud of the two business tycoons and their witty attitude.
- Elon Musk has been named the richest person in the world with a net worth of 219 billion dollars.
- As per Forbes, there are 2,668 of people on Forbes’ 36th-annual ranking of the planet’s richest people which is 87 fewer than a year ago. They are worth a collective $12.7 trillion which is $400 billion less than in 2021.
Top 5 Richest Persons in the World :
1.Elon Musk: Net Worth: $219 Billion
2.Jeff Bezos: Net Worth: $171 Billion
3.Bernard Arnault & family: Net Worth: $158 Billion
4.Bill Gates: Net Worth: $129 Billion
5.Warren Buffett: Net Worth: $118 Billion
SCIENCE & TECHNOLOGY
DRDO successfully flight-tests Solid Fuel Ducted Ramjet technology off Odisha coast
The Defence Research and Development Organisation (DRDO) successfully flight tested the Solid Fuel Ducted Ramjet (SFDR) booster at the Integrated Test Range at Chandipur off the coast of Odisha.
- As informed by the Ministry of Defence, the flight test successfully demonstrated the reliable functioning of all critical components involved in the complex missile system and further met all the mission objectives as ascertained.
- The test met all the mission objectives. The SFDR-based propulsion enables the missile to intercept aerial threats at very long range at supersonic speeds. It has an extremely high projected range of 350 km.
Astronomers discover Jupiter’s identical twin exoplanet
Astronomers have discovered an identical twin of Jupiter dubbed as K2-2016-BLG-0005Lb, Which has a similar mass and is at a similar location (420 million miles away) from its star as Jupiter is from our Sun (462 million miles away). The study has been published as a preprint on ArXiv.org and submitted to the journal Monthly Notices of the Royal Astronomical Society.
- The exoplanet is about 17,000 light-years from the Earth, and it was first detected by the Kepler space telescope in 2016.
- To spot the planet, scientists used Albert Einstein’s Theory of Relativity and Gravitational Microlensing.
BOOKS & AUTHORS
‘Not Just A Nightwatchman: My Innings with BCCI’ book by Former CAG Vinod Rai
The Former CAG Vinod Rai has authored a new book titled “NOT JUST A NIGHTWATCHMAN: My Innings in the BCCI”, has been published by Rupa Publications India.
- The book highlights his stint of 33 months at BCCI when he was elected as the head of the Supreme Court-mandated Committee of Administrators (CoA) in the BCCI.
“Tiger of Drass: Capt. Anuj Nayyar, 23, Kargil Hero” book by Meena Nayyar & Himmat Singh Shekhawat
The book titled “Tiger of Drass: Capt. Anuj Nayyar, 23, Kargil Hero” authored by Meena Nayyar & Himmat Singh Shekhawat has been released recently.The book was published by published by HarperCollins Publishers India.
- The book features the story of Capt. Anuj Nayyar (23 years old), who martyred during the 1999 Kargil War while fighting to secure the Drass sector which was critical to the success of Operation Vijay and India’s victory in Kargil.