Current Affairs 14 June 2022

We are here for you to provide the important Recent and Latest Current Affairs 14 June 2022, which have unique updates of Latest Current Affairs 2022 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

UDAN celebrates 2022 as its 5th Anniversary Year

i.A Central Government scheme of Ude Desh ka Aam Naagrik (UDAN) i.e. let the country’s common man fly, is celebrating its fifth anniversary this year. This first of its kind scheme, headed by the Ministry of Civil Aviation (MoCA), stimulates Regional Connectivity Scheme (RCS) through a market-based mechanism.
ii.It ensures common man to commute between smaller cities in a short time, and at an affordable cost.
iii.The Airports Authority of India (AAI) is its implementing agency.
About Ministry of Civil Aviation(MoCA):
Union Minister– Jyotiraditya Scindia (Rajya Sabha- Madhya Pradesh)
Minister of State– Vijay Kumar Singh (Constituency – Ghaziabad, Uttar Pradesh)
>> Read Full News

Elest To Set Up India’s 1st Display Fab worth Rs 24,000cr in Hyderabad, Telangana

On June 12, 2022, a Memorandum of Understanding (MoU) is inked between the State Government of Telangana, and Karnataka-based Elest, a subsidiary of gold retailer Rajesh Exports, for India’s first Display Fabrication (fab) Unit that will be set up in Hyderabad, Telangana with investments worth Rs 24,000 crore.

• Under this, a display fab facility i.e. ‘Generation 6 AMOLED Display FAB’ will be set up by Elest, with investments worth Rs 24,000 crore.
• AMOLED is an acronym for Active Matrix Organic Light Emitting Diodes.
• It is one of the largest investments in India’s electronics sector and the largest ever investment by size in Telangana.

Signatories:
The MoU was signed by chairman of Rajesh Exports Rajesh Mehta; and Telangana’s Information Technology (IT) Principal Secretary Jayesh Ranjan in the presence of state’s Industries and Commerce Minister Kalvakuntla Taraka Rama Rao, and Elest CEO Shyam Raghupathy in Bengaluru.
What is in the MoU?
i.The Display FAB would be set up under the India Semiconductor Mission (ISM) programme of the Ministry of Electronics and Information Technology (MeitY), Government of India.
ii.This proposed fab unit will manufacture, and supply most advanced AMOLED displays to smartphone, tablet computers, laptops, and TV makers globally.
iii.It will also manufacture lithium-ion cells, batteries, and EVs (Electric Vehicle).
iv.The unit will be set up in technological association with the most advanced and finest research centres across the world.
v.The display fab facility will not only make India at par with countries such as China, United States (US), Japan, Korea, and Taiwan, but also generate direct opportunity for more than 3,000 people, including scientists and advanced technology professionals.
Point to be noted:
Elest, a Fortune-500 company, will also set up a research and development centre for research in the next generation areas of advanced display technology.

 Prime Minister Narendra Modi Launches Several Development Projects in Gujarat

On June 10, 2022, Prime Minister (PM) Narendra Modi inaugurated and laid the foundation stone of various development projects worth Rs 3,050 crores during the ‘Gujarat Gaurav Abhiyan’ at Khudvel, a tribal region in Navsari district of Gujarat.

• This comprises the inauguration of seven projects, the laying of foundation stones for 12 projects, and the Bhumi Pujan of 14 projects.

The projects will aid in improving the region’s water supply, as well as enhance connectivity and improve ease of living for Gujarat’s residents.
PM Narendra Modi has inaugurated the headquarters of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) at Bopal in Ahmedabad, Gujarat. He was accompanied by Union Home Minister Amit Shah to the ceremony.
About Indian Space Research Organisation (ISRO):
Chairman – S. Somanath
Establishment – 1969
>> Read Full News

Defence Ministry Amends Service Rule: Retired Chiefs of Tri Service Eligible for the Post of CDS

The Ministry of Defence has amended the service rule of the Army, Air Force and Navy, inserting the clause allowing the retired Chief and their second in command in the armed forces, not older than 62, eligible for the post of Chief of Defence Staff (CDS), the topmost military assignment.
The government may extend the service of the CDS for such a period as it may deem necessary subject to a maximum age of 65 years.
The clause has been inserted after sub-rule (4) of rule 16A of the Army Rules, 1954,

• This will enable the retired 3 star generals from Army, Navy and Air force to become eligible for the post of CDS.
• The post of CDS has been vacant since the death of General Bipin Rawat in a helicopter crash on 8th December 2021 in Coonoor, Nilgiris, Tamil Nadu.

Conclave on ‘Direct to Mobile and 5G Broadband – Convergence Roadmap for India’; D2M Technology

Indian Institute of Technology(IIT) Kanpur, Uttar Pradesh(UP) in collaboration with Telecommunications Standards Development Society, India (TSDSI) organised a conclave on ‘Direct to Mobile and 5G Broadband – Convergence Roadmap for India’ at Akashvani Rang Bhawan auditorium of Prasar Bharati in New Delhi, Delhi.
The 1st time NextGen Broadcast technology on smart phones and other smart devices were demonstrated and joint white paper on Direct-to-Mobile (D2M) broadcasting by IIT Kanpur, TSDSI and Prasar Bharat, India’s public broadcaster, was released.

• D2M technology is based on the convergence of broadband and broadcast, using which mobile phones can receive terrestrial digital TV. Using D2M, multimedia content can be beamed to phones directly similar to the FM radio on phone, where an inbuild received receives radio frequency.
• DoT established a committee to study the feasibility of a spectrum band for offering broadcast services directly to users.
• Band 526-582 MHz is envisaged to work in coordination with both mobile and broadcast services. This band is currently used by the Ministry of Information & Broadcasting (MIB) across India for TV transmitters.

INTERNATIONAL AFFAIRS

25th Foundation Day of BIMSTEC celebrated in Dhaka, Bangladesh – June 6th 2022

Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) celebrated the Foundation Day of BIMSTEC 2022 or BIMSTEC Day 2022 on 6th June 2022 in Dhaka, Bangladesh.

• 6th June 2022 also marks the celebration of the 25th foundation Day of BIMSTEC, Silver Jubilee Anniversary(25th anniversary) of the foundation of BIMSTEC.
• BIMSTEC, the sub-regional organization, came into being on 6th June 1997 through the Bangkok Declaration.

History of BIMSTEC:
i.BIMSTEC is a regional organization comprising seven Member States lying in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity.
ii.BIMSTEC was initially formed with 4 member states, Bangladesh, India, Sri Lanka and Thailand, with the acronym of BIST-EC(Bangladesh, India, Sri Lanka and Thailand Economic Cooperation). 
iii.On 22nd December 1997, Myanmar was included into the economic bloc and the group was renamed as “BIMSTEC)
iv.Following the inclusion of Nepal and Bhutan in February 2004, the group was renamed as “Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation” BIMSTEC. 
Milestone achievements of BIMSTEC:
i.In 2014, the BIMSTEC Secretariat was established in Dhaka, Bangladesh.
BIMSTEC charter was adopted at the 5th BIMSTEC Summit hosted by the Democratic Socialist Republic of Sri Lanka in Colombo, Sri Lanka in March 2022.
ii.The 5th summit also approved the rationalised sectors of cooperation to ensure a better focus and cooperative ethos.
Highlights of the event:
During the celebration of the 25th Foundation day of BIMSTEC Day, BIMSTEC Secretariat released a publication titled “25 Years of BIMSTEC – Towards a Peaceful, Prosperous and Sustainable Bay of Bengal Region”.
About Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC ):
Chair of BIMSTEC– Thailand(2022-2023)
Theme of Thailand’s chairmanship- Prosperous, Resilient and Robust, Open BIMSTEC
Secretary General– Tenzin Lekphell
Members of BIMSTEC– Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.
Headquarters– Dhaka, Bangladesh

BANKING & FINANCE

XPay.Life launches India’s 1st Blockchain-enabled UPI Services targeting Rural Areas

On June 10, 2022, Bengaluru (Karnataka)-based Fintech startup XPay.Life on the completion of its 3 years of operations, launched India’s first blockchain-enabled transaction Unified Payments Interface (UPI) services.

• This launch aims to make financial facilities accessible for people in rural areas who need financial support the most.

Key Points:
i.This launch is expected to benefit XPay.Life’s 4 million consumers across more than 15 states and 1 lakh villages.
ii.XPay.Life is aiding Regional Rural Banks (RRBs) and District Co-Operative Banks (DCCBs) to help them bank better and enable true financial inclusion in rural areas with security and no disruption.
iii.It is also working with National Bank for Agriculture and Rural Development (NABARD), National Payments Corporation of India (NPCI), and Karnataka Government to strengthen digital banking and payments by enabling the last mile link.
iv.The startup works on three models: Software-as-a-Service(SaaS)which includes their mobile app, Platform-as-a-Service (PaaS) which includes their website, and Infrastructure-as-a-Service (IaaS) which refers to their mobile vans.

• It has about 100 active mobile vans that facilitate digital banking and aims to increase it to 200 in the near future.

iv.Rohit Kumar is the Founder & Chief Executive Officer (CEO) of XPay.Life.

OmniCard becomes 1st RBI licensed PPI to launch Cash Withdrawal across all ATMs PAN India

Payment solution provider OmniCard became the first Reserve Bank of India (RBI) licensed PPI (Prepaid Instrument) to launch a cash withdrawal facility using a RuPay-powered card from any ATM (Automated teller machine) through their e-wallet.

• This decision came in after RBI permitted the non-bank licensed entities to enable cash withdrawals from the digital wallet.

Key Points:
i.OmniCard users can withdraw cash from any ATM at their convenience with high safety and secure features and protects the user from exposing their money and bank account details.
ii.The company worked with the National Payments Corporation of India (NPCI) team to enable the facility.
iii.Sanjeev Pandey is the Co-Founder and Chief Executive Officer (CEO) of OmniCard.

• Run by Noida-based Eroute Technologies, Omnicard is a RuPay powered prepaid card with a mobile app where the users can spend using swipe, scan, tap and pay online, avail in-app offers from partner brands and get rewarded on every spends.

Additional info: In the case of non-bank issued PPIs, cash withdrawal is permitted upto a limit of Rs 2,000/- per transaction within an overall monthly limit of Rs 10,000/- per PPI across all channels (agents, ATMs, PoS devices, etc.)

AWARDS & RECOGNITIONS    

Harini Logan, Indian American won the 2022 Scripps National Spelling Bee 

Harini Logan(13-year-old) an Indian origin person from San Antonio, Texas, United States of America(USA) won the 2022 Scripps National Spelling Bee competition held in Gaylord National Hotel and Convention Center in National Harbor, Maryland, USA.
She has received a USD 50,000 cash prize, a commemorative medal and the Scripps Cup.

• This marks the 94th edition of the Scripps National Spelling Bee. The first edition of the competition was held in 1925. The event is administered by the E.W. Scripps Company (Cincinnati, Ohio).
• The 2022 Scripps National Spelling Bee was hosted by LeVar Burton.

She competed against Vikram Raju of Indian origin in the first ever 90 seconds spell-off and spelt 21 words correctly (6 more than Vikram Raju) and won the 2022 championship.

• Balu Natarajan was the first person of Indian origin to win the spelling bee competition in 1985.
• The 2020 competition was cancelled due to the COVID-19 pandemic, for the first time since the 2nd World War.
• Zaila Avant-Garde (2021 champion) became the 1st Black American and 1st Louisiana speller to win the Bee.    

APPOINTMENTS & RESIGNATIONS         

RBI Appointed R Subramaniakumar as MD & CEO of RBL Bank

The Reserve Bank of India (RBI) has approved the appointment of R Subramaniakumar as Managing Director (MD) and Chief Executive Officer (CEO) of RBL Bank for a period of 3 years with effect from the date of his taking charge, under Section 35B of the Banking Regulation Act 1949.
Key Highlights:
i.He succeeds Rajeev Ahuja, who was an Interim MD and CEO.
ii.Previously, he has held the position of Managing Director and CEO of Indian Overseas Bank.
iii.Subramaniakumar is a veteran banker with over 40 years of experience and was also appointed by the RBI as the Administrator of troubled Dewan Housing Finance Corporation Limited and achieved its resolution.
About RBL Bank:
RBL Bank, formerly known as Ratnakar Bank,
Headquarters – Mumbai, Maharashtra
Founded In – 1943
Tagline –Apno Ka Bank

ACQUISITIONS & MERGERS        

Tencent Acquires A USD 264 Million Stake in Flipkart from Binny Bansal

Tencent, a Chinese technology conglomerate, has bought a stake in Walmart-owned Flipkart from its co-founder Binny Bansal for USD 264 million (about Rs 2,060 crore) through its European subsidiary Tencent Cloud Europe BV.

• Flipkart, a Singapore-based e-commerce company, only operates in India.

After selling a part of his stake to Tencent Cloud Europe BV, Binny Bansal now owns around 1.84 % of Flipkart.

• Following the transaction, Tencent Cloud Europe BV now owns 0.72 % of Flipkart, which is worth around USD 264 million.

Walmart acquired Flipkart for USD 16 billion in 2018. Its founders are: Sachin and Binny Bansal.
Key Points:
i. Flipkart’s valuation increased to USD 37.6 billion following a USD 3.6 billion (about Rs. 26,805.6 crore) funding round headed by Singapore’s sovereign wealth fund GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart.
ii.Flipkart reported this transaction as a responsible entity and stated that it does not fall under the ambit of ‘Press Note 3’, which calls for scrutiny of any investment received by any Indian company from countries sharing a land border with India.

• It also states that if the beneficial owner of the investment is based in a land-bordering country, the investment must be made through the ‘approval route,’ which requires a security clearance.

Tencent in India:
i.Since 2016, Tencent has invested over USD 2 billion in Indian start-ups. It also invested over USD 200 million in the Indian social media start-up ShareChat in 2021.
ii.Though Tencent has invested in a number of enterprises in India, the Indian government has banned various gaming apps, including PUBG Mobile and PUBG Mobile Lite, which were developed by Tencent Group.

• Other Chinese investors, such as Alibaba and Xiaomi, have also made significant investments in Indian start-ups, totalling billions of dollars.

SCIENCE & TECHNOLOGY

Govt Launches Rashtriya Puraskar Portal; Invites Nominees for Various Awards

The Union Government has launched a common portal, the Rashtriya Puraskar Portal (https://awards.gov.in) for inviting nominations for national awards of the various Ministries, Departments and agencies.

• Aim – To facilitate citizens to nominate individuals and organisations for various national awards under one platform , instituted by the Government of India.
• With this portal, for the first time in the history of India, information regarding all national awards would be available to the public on a single digital platform including their eligibility criteria, selection procedure, and details of past awardees.
• Also, people will be able to make nominations for various awards on a single platform, which is simple and user-friendly.

Currently, nominations/recommendations for the following Awards are open:
i.Padma Awards – Nomination open till 15th September 2022
ii.Sardar Patel National Unity Award – Nomination open till 31st July 2022
iii.Tenzing Norgay National Adventure Award – Nomination open till 16th June 2022
iv.Jeevan Raksha Padak series of Awards – Nomination open till 30th September 2022
v.Pandit Deendayal Upadhyaya Telecom Skill Excellence Award – Nomination open till 16th June 2022.

SPORTS

Formula One: Max Verstappen wins Azerbaijan GP to Become Red Bull’s Most Successful Driver

On 12th June 2022 Red Bull’s Max Verstappen (Belgium) won the Azerbaijan Formula One Grand Prix 2022 held at Baku, Azerbaijan to extend his Formula One (F1) championship lead over Ferrari’s Charles Leclerc (Monaco).

Verstappen’s 25th career win ties him with Jim Clark and Niki Lauda for ninth on the all-time list.

• Formula One championships are held by Federation Internationale de l’Automobile (FIA)

Highlights:
i.The 24-year-old Verstappen became the most successful driver in the Red Bull of all time and at present, he has 66 podiums for Red Bull and is tied 9th for the most race wins alongside Jim Clark and Niki Lauda.
ii.Red Bull racing driver Sergio Perez (Mexico) stood second in the pole position, followed by him was the Mercedes racing driver George Russell (British). Lewis Hamilton (British) was named as the Driver of the Day.

About Federation Internationale de l’Automobile (FIA)
President – Mohammed Ben Sulayem
Headquarters – Paris, France

Stuttgart Open 2022: Matteo Berrettini Beats Andy Murray in Men’s Single,Iga Swiatek won Women’s Single Title

Stuttgart Open 2022 was the men’s and women’s tennis tournament held in Stuttgart,Germany. 2022 BOSS Open (formerly known as the Mercedes Cup) was a men’s tennis tournament played on outdoor grass courts and 2022 Porsche Tennis Grand Prix, is a women’s tennis tournament played on Clay courts.

2022 BOSS Open :-
It was the 44th edition of the Stuttgart Open, and part of the ATP Tour 250 series of the 2022 Association of Tennis Professionals (ATP) Tour. It was held at the Tennis Club Weissenhof in Stuttgart, Germany, from 6 June until 12 June 2022.The 1st edition of the tournament was held in 1898.

• Matteo Berrettini (Italy) won men’s singles title against Former World No. 1 Andy Murray (Britain) in 2022 BOSS Open.
• The Men’s Doubles title was won by Hubert Hurkacz (Poland) and Mate Pavic (Croatia) against Tim Putz (Germany) and Michael Venus (New Zealand) in 2022 BOSS Open.

Highlights:
i.Matteo Berrettini, a 26-year-old and Men’s Singles World No. 10 now holds a perfect 9-0 record at the ATP 250 event, who has earlier won the Stuttgart open title in 2019.

• He had also won The Queen’s Club championship in 2021 by defeating Cameron Norrie in the final in London.

2022 Porsche Tennis Grand Prix
2022 Porsche Tennis Grand Prix was a women’s professional tennis tournament played on indoor clay courts at the Porsche Arena in Stuttgart, Germany from 18 Apr 2022 to 24 Apr 2022. It was the 45th edition of the Porsche Tennis Grand Prix and is classified as a WTA 500 tournament on the 2022 Women’s Tennis Association(WTA) Tour.The tournament is the oldest women’s indoor tournament in Europe.

Iga Swiatek of Poland (Women’s singles world no 1) won the women’s singles title against Aryna Siarhiejeŭna Sabalenka of Belarus.

• Desirae Marie Krawczyk (America) and Demi Schuurs (Netherland) won women’s doubles against Coco Gauff(America) and Zhang Shuai (China)

About Association of Tennis Professionals (ATP):
CEO – Massimo Calvelli
Chairman – Andrea Gaudenzi
Establishment – 1972
Headquarters – London, United Kingdom

IMPORTANT DAYS

World Day Against Child Labour 2022 – June 12 

The United Nations(UN)’s World Day Against Child Labour is annually observed across the globe on 12th June to create awareness about the harmful effects of child labour on individuals. The day also aims to eradicate work that deprives millions of children of their rights to decent education, working conditions and living wages.
The theme of World Day Against Child Labour 2022 is “Universal Social Protection to End Child Labour”.
Background:
i.The World Day Against Child Labour was launched in 2002 by the International Labour Organization (ILO), a United Nations(UN) agency mandated to advance social and economic justice by setting international labour standards.
ii.The first-ever World Day Against Child Labour was observed on 12th June 2002. 
Week of Action against Child Labour – 3 to 12 June 2022
i.Week of Action against Child Labour, from 3rd to 12th June 2022 has been marked as a part of the celebration of the World Day Against Child Labour.
ii.As a part of this week, events and activities were organised around the world to provide an opportunity to showcase progress on the elimination of child labour.
>> Read Full News

International Albinism Awareness Day 2022 – June 13 

The United Nations(UN) International Albinism Awareness Day is annually observed across the globe on 13th June to create awareness about albinism and to highlight the human rights of the people with albinism.

• Albinism is a group of genetically inherited disorders where there is little or no production of the melanin pigments.
• The type and amount of melanin your body produces determine the colour of skin, hair and eyes.

The theme of International Albinism Awareness Day 2022 is “United in making our voice heard”.
Background:
The United Nations General Assembly(UNGA) adopted the resolution A/RES/69/170 on 18th December 2014 and proclaimed the 13th June of every year as the International Albinism Awareness Day.

• The first-ever International Albinism Awareness Day was observed on 13th June 2015.

>> Read Full News

STATE NEWS

Assam Partners with NLC India to Set up 1GW Solar Power Project

Assam Government is set to sign a Memorandum of Understanding (MoU) with NLC India Ltd, the public sector navaratna company to set up a first-of-its-kind joint venture company (JVC) for generating 1 Giga Watt (GW) solar power with an investment of 5000 crore.

• NLC India Limited would hold 51 percent stake in the solar joint venture.
• The electricity from the plant would be bought by Assam at a tariff that would give a 12 percent return on equity.
• NLC India has collaborated with the Assam government for the sale of power from the Ghatampur thermal power project, through a joint venture of NLC India and the Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd in Kanpur, Uttar Pradesh.
•  NLC India may also build a 1,000 MW solar power plant in the state as a joint venture with the Assam Power Distribution Company, controlled by the government of Assam.

Other Approvals By Assam Cabinet
The Assam cabinet has given approval for implementation of Revamped Distribution Sector Scheme (RDSS) with Rs 8,727 crore as project cost and state share of Rs 263 crore.

• Under RDSS, around 57.45 lakh Smart Prepaid Metres to be installed along with Smart Metering at 2,782 Feeders and 77,547 Distribution Transformers for energy accounting.
• Installation of 4,902 Distribution Transformers in High Voltage Distribution System among other measures for loss reduction and system modernisation.

About NLC India Limited:

NLC India Ltdformerly known as Neyveli Lignite Corporation Ltd ,recently diversified into renewable energy by which it became the 1st public sector company to own 1,000 MW of renewable energy capacity. (Particularly solar power).

• Currently, the company has 1,421 MW of renewable energy capacity (51 MW of which is wind and the rest solar).

Chairman and Managing Director (MD) – Rakesh Kumar
Headquarters –Neyveli, Tamil Nadu

Special Health Care Abhiyan ‘Anchal‘ launched for pregnant women in Rajasthan’s Karauli

A special health care Abhiyan “Anchal” for pregnant women was launched in the Karauli district of Rajasthan. This unique scheme, initiated by Ankit Kumar Singh IAS, District Collector & District Magistrate, Karauli, Rajasthan, would benefit more than 13 thousand women.

• Aim: To ensure the availability of all medical aid to pregnant women at the pre and post-natal stage to reduce maternal and infant mortality.
• Auxiliary Nurse Midwives and Accredited Social Health Activist (ASHA) workers will aid pregnant women and provide necessary counselling and treatment.
• As a part of the campaign, 13,144 pregnant women were tested for their haemoglobin levels, out of which 11,202 were found to be anaemic.
• Medication and a nutritious diet were prescribed for these women.

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