Daily Current Affairs May 9 2022 for Banking/Insurance/SSC and other related exams.
Delhi Government Approves Implementation of Startup Policy
The Delhi Cabinet approved the implementation of its start-up policy with an aim to make Delhi a chosen destination for start-ups by 2030.
- The start-up policy aims to provide an enabling ecosystem for an innovation-based economy.
- The policy is linked to the Delhi Budget 2022-23, which aims to create two million jobs by 2027 through various interventions and business promotion.
IRCTC’s Bharat Gaurav tourist train will include a stop at Nepal’s Janakpur
Come June 21 this year and India’s first Bharat Gaurav tourist train would make its maiden journey under the command of the Indian Railway Catering and Tourism Corporation (IRCTC) following the Ministry of Railways’ new policy.
- The railway has approved the routes to run this train on the Ramayana Circuit, which has been identified under Swadesh Darshan scheme covering prominent places associated with life of Lord Shri Rama.
- The Bharat Gaurav tourist train will have a capacity of providing accommodation to around 600 tourists and the IRCTC has tied up with Paytm and Razor pay payment gateways for providing EMI payment option to the customers.
RPF signs MoU with Nobel laureate Kailash Satyarthi’s Children Foundation to end child trafficking
Railway Protection Force (RPF) has signed a Memorandum of Understanding (MoU) with Association for Voluntary Action (AVA) for a trafficking free nation.
- The deliberations were taken forward with signing of MoU wherein both RPF and AVA (also known as Bachpan Bachao Andolan) pledged to work together to share information, build capacity of RPF personnel and railway employees to work against Human Trafficking, increase sensitization and create awareness and also help each other in identification and detection of cases of Human Trafficking.
Poumai Naga Areas In Manipur Declared ‘drug Free Zone’
Giving an impetus to chief minister N Biren Singh’s initiative on “War on Drugs”, the Poumai Naga community has declared Poumai areas in the state as “drug free zone”.
- Paomai is the second largest Naga tribe in Manipur predominantly settled in Senapati district.
BANKING & FINANCE
Indian Bank launches digital broking solution
Public sector Indian Bank has unveiled digital broking solution ‘E-Broking‘, allowing customers to open a demat and trading account facility, in line with the digitalisation mission of the bank, an official said.
- The launch of digital broking solution ‘E-Broking’ was a strategic step towards complete digitalisation of its offerings to customers.
BUSINESS & ECONOMY
RIL is 1st Indian company to cross $100bn revenue
Reliance Industries’s revenue has crossed $100 billion in fiscal 2022, becoming the first Indian company to reach the milestone.
- The Tata Group, a collection of over 30 companies across 10 verticals, had a revenue of $103 billion in fiscal 2021. The group’s fiscal 2022 numbers are yet to be declared.
- Reliance has four business verticals: O2C, which includes its oil refineries, petrochemical plants, and fuel retailing business; retail, which includes brick-and-mortar stores and e-commerce; digital services, which includes telecom arm Jio; and new energy.
Unemployment rate for persons 15 years and above in urban areas slips to 8.7% in Oct-Dec 2021: NSO survey
The unemployment rate for persons of 15 years and above in urban areas slipped to 8.7 per cent in October-December 2021 from 10.3 per cent in the year-ago quarter, showed a periodic labour force survey by the National Statistical Office (NSO).
- Joblessness was high in October-December in 2020 mainly due to the staggering impact of the lockdown restrictions in the country, which were imposed to curb the spread of the deadly coronavirus.
- The unemployment rate for persons of age 15 years and above in July-September 2021 was 9.8 per cent in urban areas, the 13th Periodic Labour Force Survey (PLFS) showed.
- It also showed that the unemployment rate among females (aged 15 years and above) in urban areas also declined to 10.5 per cent in October-December 2021 from 13.1 per cent a year ago. It was 11.6 per cent in July-September 2021.
Boeing and Air Works collaborate on Indian Navy’s P-8I fleet
The collaboration between Boeing and Air Works has enabled faster turnarounds and enhanced operational capability within India for key defence platforms Underscoring the success of the government’s Atmanirbhar Bharat (self-reliant India) campaign, Air Works – an Indian maintenance, repair, and overhaul (MRO) company is partnering The Boeing Company in undertaking heavy maintenance checks on three Indian Navy P-8I long-range maritime patrol aircraft simultaneously at Air Works, Hosur.
- This significantly expands the scope and size of MRO in India, demonstrating both firms’ commitment to helping India achieve Aatmanirbhar status in aerospace and defence.
- The partnership between Boeing and Air Works has resulted in quicker turnaround times and increased operating capability for important defence platforms in India.
ACQUISITIONS & MERGERS
L&T Infotech, Mindtree announce merger to create India’s 5th largest IT services provider
L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group announced a merger that would create India’s fifth-largest IT services provider. The combined entity will be known as “LTIMindtree”.
- The Boards of Directors of Mindtree and L&T Infotech (LTI) at their respective meetings held approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group.
- The proposed integration will see Mindtree and LTI join strengths to create an efficient and scaled up IT services provider exceeding USD 3.5 billion. These opportunities will create a more distinctive employee value proposition and stronger partnerships with ecosystem players.
RBI gives no-objection for merger of Equitas SFB, Equitas Holdings
Equitas Small Finance Bank and the parent Equitas Holdings Ltd said that the Reserve Bank of India has given its no-objection to their proposal of amalgamation, subject to conditions.
- The merger is being effected to comply with the RBI norms on small finance banks, mandating the promoter to reduce the stake in the subsidiary to 40 per cent within five years of commencement of operations by the SFB (Small Finance Bank).
Indian Navy to Acquire Spy Satellite GISAT-2 to Boost Capability in IOR
As part of its modernisation and network-centric warfare and communications programme, the Indian Navy is looking to acquire a dedicated earth imaging satellite, Geo Imaging Satellite-2 (Gisat-2) this fiscal.
- Once operational, the satellite is expected to enhance the navy’s operational capabilities in the Indian Ocean region, which is strategically and geopolitically important, especially in the backdrop of increasing Chinese presence.
- The Gisat-2, is among 21 planned procurements, including some long-term acquisitions as per information from the ministry of defence (MoD). And, the capability development/modernisation of the navy is being undertaken in accordance with the long-term plans being put in place for the next decade.
Indian GM Gukesh wins Sunway Formentera Open chess tournament
Indian Grandmaster D Gukesh emerged champion in the 1st Chessable Sunway Formentera Open 2022 chess tournament.
- It was a hat-trick of titles for him after he had previously won the La Roda tournament and the Menorca Open in recent weeks.
- The 15-year old Gukesh (Elo 2637) settled for a draw with Armenian GM Haik M Martirosyan in the final round to win the title with eight points. He had defeated compatriot and second-seed K Sasikiran in the ninth and penultimate round.
M Narayanan joins City Union Bank as part-time chairman
Narayanan assumed charge as part time chairman of City Union Bank Ltd. (CUB) for a period of two years from May 4.
- The bank announced his appointment after accepting the recommendations of the RBI. Mr. Narayanan succeeds R. Mohan, who laid down office after completing a three-year term.
Justice Sudhanshu Dhulia and Justice Pardiwala take oath as Supreme court judges
Chief Justice of India Justice N V Ramana administered the oath of office to Justice Sudhanshu Dhulia and Justice Jamshed B Pardiwala at a function in the Supreme Court.
- Before their appointment in the Apex Court, Justice Dhulia was Chief Justice of Gauhati High Court and Justice Pardiwala was Judge in the Gujarat High Court.
- With the appointment of Justice Dhulia and Justice Pardiwala, the top court has now full strength of 34 judges.
Pushp Kumar Joshi takes over as CMD of HPCL
Dr. Pushp Kumar Joshi has taken charge as Chairman & Managing Director of Hindustan Petroleum Corporation Ltd (HPCL), a Maharatna Company on May 8, 2022.
- Prior to this Dr Joshi was Director-HR of the Corporation from August 01, 2012.Dr. Joshi is also holding the Additional charge of Director – Marketing of HPCL.
Nepali Sherpa Kami Rita scales Everest for 26th time, breaks own record
Kami Rita, an experienced Nepalese Sherpa guide, has broken his own record for the most climbs of Mount Everest, reaching the 8,849-metre-high (29,032-foot-high) summit before returning safely to lower camps, a government official said.
- It was Rita’s 26th climb of the peak. He was first scaled Everest in 1994. Since then, he has climbed the mountain nearly every year, already setting several world records for the highest number of ascents. In 2019, he said he wanted to make 25 ascents of Everest before retiring from high mountain climbing.
Priyanka Mohite becomes first Indian woman to climb 5 peaks above 8000 metres
A 30-year-old woman, named Priyanka Mohite is now known as the first Indian woman to climb five peaks above 8000 m. The woman has achieved this success after ascending Mount Kanchenjunga.
- Mohite hails from the Satara district and received the Tenzing Norgay Adventure Award 2020. She climbed the third highest mountain on Earth.
State College of Teachers’ Education Kohima adjudged as winner of first-ever National Anthem Singing Competition
State College of Teachers’ Education Kohima has been adjudged as the winner of the first-ever National Anthem Singing Competition.
- The Competition was organised by the State Unit of Bharatiya Janata Party in Nagaland in commemoration of the 161st Birth Anniversary of Bharat Ratna Rabindranath Tagore and also in celebration of 75th year of ‘Azadi Ka Amrit Mahostav’ at Kohima.
- The winners received a citation and a cash award of 50,000 rupees.
SCIENCE & TECHNOLOGY
RailTel launches PM-WANI based access to its Wi-Fi at 100 railway stations across the country
RailTel, a Mini Ratna PSU, has launched Prime Minister Wi-Fi Access Network Interface (PM-WANI) scheme based on access to its Public WiFi services across 100 railway stations across the country.
- This public-friendly service was virtually launched by RailTel chairman and managing director Puneet Chawla.
- To access this WiFi network, android users can download the mobile app ‘Wi-DOT’ available on Google Play Store. This app has been developed in close coordination with C-DOT.
India’s largest lithium-ion battery plant starts production in Gujarat
Battery maker Exide Industries and joint venture partner Switzerland’s Leclanche SA have begun mass production at the nation’s largest lithium-ion battery plant in Gujarat, the companies said.
- The plant, with total installed capacity of 1.5 Gigawatt hours (GWh), has six automated assembly lines on which it will produce batteries for automobiles and energy storage applications, the joint venture company, New charge.
ICG commissions the 845th Air Squadron equipped with Dhruv ALH Mk III helicopters
Indian Coast Guard chief VS Pathania commissioned the second made in India ALH Mk III Squadron at Coast Guard Air Enclave (CGAE) in Kochi.
- The second squadron of ALH Mk III choppers aims to boost the security of the western seaboard further and enhance India’s search and rescue capability.
- Four helicopters have been stationed in Kochi to cover the Karnataka, Kerala, and Lakshadweep coasts. Commandant Kunal Naik leads a squadron of nine officers and 35 soldiers.