Current Affairs 3 & 4 July 2022

We are here for you to provide the important Recent and Latest Current Affairs 3 & 4 July 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

5th Edition of Business Reforms Action Plan: BRAP 2020 – An Assessment of States/UTs To Enhance Ease of Doing Business

The assessment of States/Union Territories (UTs) under the Business Reforms Action Plan (BRAP) 2020, the 5th edition of the BRAP exercise, was announced by Union Minister Nirmala Sitharaman, Ministry of Finance (MoF), and Ministry of Corporate Affairs (MoCA) on June 30, 2022, in New Delhi, Delhi.

Aim: To promote investor confidence, develop a business-friendly environment, and improve the ease of doing business across India by creating a healthy competitive aspect through a system of assessing states based on their performance in implementing BRAP.
Assessment of States/UTs Under BRAP 2020
In order to recognise and identify the outstanding reform measures adopted by the States/UTs to improve the business ecosystem, the DPIIT assessed and sorted States/UTs into broad category-wise segmentation.

• As compared to the conventional practice of announcing ranks, the MoCI has changed the system of ranking States/UTs in BRAP 2020 to be category-based, namely: Top Achievers, Achievers, Aspirers, and Emerging Business Ecosystems.

About Ministry of Commerce & Industry (MoCI):
Union Minister – Piyush Goyal (Rajya Sabha – Maharashtra)
Minister of State (MoS) – Anupriya Singh Patel (Mirzapur Constituency, Uttar Pradesh); Som Parkash (Hoshiarpur Constituency, Punjab)
>> Read Full News

PM Modi Participated in ‘Udyami Bharat’ Programme; Launched Key Initiatives On 30th June 2022, Prime Minister(PM) Narendra Modi participated in the ‘Udyami Bharat’ programme organised at the Vigyan Bhawan, New Delhi, Delhi. He also launched various key initiatives such as

• ‘Raising and Accelerating MSME Performance’ (RAMP) scheme, 
• ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme
• New features of the Prime Minister’s Employment Generation Programme – (PMEGP) to ramp up the Micro, Small & Medium Enterprise (MSME) sector.

Highlights of the event:
i.PM Modi digitally transferred assistance to beneficiaries of PMEGP for 2022-23
ii.He also announced the results of the MSME Idea Hackathon 2022.
iii.He also distributed the prise of National MSME Awards, 2022 and issued Digital Equity Certificates to 75 MSMEs in Self Reliant India (SRI) Fund.
About Ministry of Micro, Small and Medium Enterprises:
Union Minister– Narayan Tatu Rane (Rajya Sabha- Maharashtra)
Minister of State(MoS)- Bhanu Pratap Singh Verma (Constituency- Jalaun, Uttar Pradesh)
>> Read Full News

NCRTC & DB India sign Agreement for Operation & Maintenance of RRTS Corridor
National Capital Region Transport Corporation  (NCRTC) signed a first-of-its-kind  agreement with Deutsche Bahn Engineering and Consultancy India Pvt Ltd (DB India), a subsidiary of Deutsche Bahn AG, National Railway Company of Germany  to operate and maintain the 82-km long Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) corridor for 12 years.
Highlights:
i.The RRTS project is based  on the O&M (Operation and Maintenance) model developed by NCRTC, which  will boost domestic capacities in the sector.
ii.The implementation of the RRTS corridor is part of the ‘Comprehensive Action Plan (CAP) for Air Pollution Control in Delhi & NCR’ and the recommendation of the ‘High Powered Committee on Decongesting Traffic in Delhi’.

• The agreement is also linked to the Metro Rail Policy in 2017 issued by the  MoHUA to boost private sector participation in regional rail and metro rail projects.

About National Capital Region Transport Corporation  (NCRTC):
i.NCRTC is a joint venture company of the Govt. of India and four states (Delhi, Haryana, Rajasthan and Uttar Pradesh).

• It works  under the administrative control of the Ministry of Housing and Urban Affairs (MoHUA).
• It is mandated to implement the Regional Rapid Transit System (RRTS) project across NCR.

ii.NCRTC has also adopted the first-of-its-kind model for integrated procurement cum long-term (15 years) maintenance of rolling stock through private participation to capture lifecycle costing.

India’s Largest Floating Solar Plant Commissioned at NTPC Ramagundam, TelanganaNTPC Limited, India’s largest state-run energy conglomerate, has announced the commercial operation of the Ramagundam Floating Solar photovoltaic (PV) Project in Ramagundam, Telangana, which is India’s largest floating solar power plant with a total capacity of 100 MW (megawatts).

• It commenced operation on July 1, 2022, and made the final final operation of 20 MW of the 100 MW Ramagundam Floating Solar PV Project.

In March 2022, an additional 42.5 MW of power generation capacity was made operational by NTPC at the Ramagundam Floating Solar PV Project.

Ramagundam Floating Solar PV Project
i.The Ramagundam Floating Solar PV Project, which has 4.48 lakh photovoltaic (PV) panels floating across 500 acres of the NTPC-Ramagundam reservoir, was built at a cost of Rs. 423 crore.

• Bharat Heavy Electricals Limited (BHEL) is the project’s EPC (engineering, procurement, and construction) contractor.

ii.The project is divided into 40 2.5MW blocks, with each block consisting of one floating platform and an array of 11,200 solar modules.
iii. The solar modules are mounted on floaters made of HDPE (High Density Polyethylene), and each floating platform consist of one inverter, a transformer, and an HT breaker.

• All of the electrical equipment, including SCADA (supervisory control and data acquisition), is floating on ferro-cement platforms, making this project unique.

iv.The floating system is anchored to dead weights in the balancing reservoir bed by special HMPE (High Modulus Polyethylene) ropes.
v.The total commercial operation of Floating Solar Capacity in the Southern Region increased to 217 MW with the operationalization of the 100-MW Solar PV Project at Ramagundam with addtion to the NTPC’s 92 MW Floating Solar Power Project at Kayamkulam (Kerala) and a 25 MW Floating Solar PV Project at Simhadri (Andhra Pradesh).
Total Installed Capacity of NTPC
i.NTPC’s total installed capacity has now reached 69,134.20 MW, with 23 coal-based, seven gas-based, one hydro, and 19 renewable energy projects.
ii.Under joint venture, NTPC has nine coal-based, four gas-based, eight hydro, and five renewable energy projects (JV).

Note – On June 28th 2022, Tata Power Solar Systems has commissioned India’s largest floating solar power project of 101.6 Megawatt Peak (MWp) on a 350-acre water body in Kayamkulam, Kerala.

MoFPI’s PMFME scheme under Aatmanirbhar Bharat Abhiyan completes 2 years

The centrally sponsored Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme,under Aatmanirbhar Bharat Abhiyan, has completed two years (2020-2022).
Objective:
To  empower the unorganized Micro Enterprises to fulfill the aim of formalizing the food processing sector in India.
About PMFME:
i.It was launched on 29th June 2020 by the Ministry of Food Processing Industries (MoFPI) with an outlay of Rs.10,000 crore for over a period of five years from 2020-21 to 2024-25. It is currently being implemented in 35 States and Union Territories (UTs).
ii.Under the scheme, the submission process for the applicants to apply for the credit-linked subsidy is done through the online portal –www.pmfme.mofpi.gov.in
iii.Under PMFME ,the digital GIS One District One Product (ODOP) map of India was also developed to provide details of ODOPs of all the States and UTs.
Highlights:
i.It is providing  financial support of Rs. 40,000 for working capital and purchase of small tools for each member of the Self Help Group (SHG) engaged in food processing activities in India.

• Over 1 lakh SHG members are  identified and the seed capital amount  Rs. 203 Crores is provided to the beneficiaries.

ii.Under the scheme, MoFPI signed a MoU with  National Agricultural Cooperative Marketing Federation of India (NAFED) & Tribal Co-operative Marketing Development Federation of India (TRIFED) to boost marketing and branding activities of beneficiaries.

• Two  State-level brands including  “AASNAA” brand from  Punjab and the “BHIMTHADI” brand from  Maharashtra also launched.

iii.The MoFPI is also conducting 75 Unique ODOP webinars/offline workshops in collaboration with States/UTs and  National Institute of Food Technology Entrepreneurship and Management (NIFTEM).

• “Kahaani Sukshma Udyamon Ki” a series of success stories was published under this initiative.

IIE, Guwahati &  IIM, Shillong signs MoU to Boost Entrepreneurship Ecosystem in the NEROn 1 July 2022, Indian Institute of Entrepreneurship (IIE), Guwahati, signed a  Memorandum of Understanding (MoU) with the Incubation and Enterprise Support Centre of Indian Institute of Management Shillong (IIMS) to boost the entrepreneurial ecosystem in the North Eastern Region (NER).
Aim:
To boost  entrepreneurship, incubation, and startups ecosystem in the NER.
Key points:
i.The MoU will provide support for  professional skills  development in areas such as management, entrepreneurship, and other skill development.
ii.The agreement will also provide impetus to  startups and local entrepreneurs for their growth and development in the region.
iii.The institutes (IIE & IIMS) will  provide certified courses on entrepreneurship development and  training under the Incubation and Enterprise Support Centre, IIM Shillong.

GoI Amends Foreign Contribution (Regulation) Act (FCRA) Rules 2011

The Government of India (GoI) has made seven key amendments to the existing Foreign Contribution (Regulation) Act (FCRA) Rules 2011, which renamed as the Foreign Contribution (Regulation) Amendment Rules, 2022, w.e.f. July 01, 2022. Amended FCRA will allow Indians to receive up to Rs 10 lakh in a year from relatives staying abroad without informing the authorities. The earlier limit was Rs 1 lakh.

• The rules were amended by GoI in exercise of the powers conferred by section 48 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010).
• The FCRA is applicable to all associations, groups and NGOs which intend to receive foreign donations. It is mandatory for all such NGOs to register themselves under the FCRA.

The FCRA prohibits the acceptance and use of foreign contributions or foreign hospitality for activities that are detrimental to the national interest.

• The principal rules were published on April 29, 2011, and subsequently amended on April 12, 2012; December 14, 2015; March 7, 2019; September 16, 2019; November 10, 2020, and January 11, 2021.

>> Read Full News

BANKING & FINANCE

SBI Card Partners with Aditya Birla Finance to Launch ‘Aditya Birla SBI Card’

SBI Cards and Payment Services collaborated with Aditya Birla Finance Limited (ABFL),the lending subsidiary of Aditya Birla Capital for the launch of ‘Aditya Birla SBI Card’ .This card has been designed to award customers with reward points on their spending in telecom, fashion, travel, dining, entertainment, and hotels.

Key Points:
i.The card has been launched in two variants, ‘Aditya Birla SBI Card SELECT’ and ‘Aditya Birla SBI Card’, on the Visa platform and benefits 35 million (3.5 crore) customers of Aditya Birla Capital
ii.The joining or annual renewal fee for ‘Aditya Birla SBI Card’ and ‘Aditya Birla SBI Card SELECT’ is Rs 499 and Rs 1499 respectively.
About SBI Cards and Payment Services Ltd:
MD & CEO – Rama Mohan Rao Amara
Establishment – 1998
Headquarters – Gurugram, Haryana

ACC Establishes FSIB for Appointments in Financial InstitutionsThe Appointments Committee of the Cabinet (ACC) headed by the Prime Minister (PM) has approved the establishment of Financial Services Institutions Bureau (FSIB) with one chairperson and two members.

• It is a single entity constituted for making recommendations for appointments of Wholetime Directors and Non-Executive Directors in public sector banks (PSBs), public sector insurers (PSIs) and financial institutions (FIs) including selection of General Managers and Directors in non-life PSIs.

Highlights:
i.Head – The former Banks Board Bureau Chairman Bhanu Pratap Sharma to be the 1st chairman of the entity for 2 years, with 2 other members.

ii.Other appointment for the members of FSIB –

• Animesh Chauhan, former Chairman and Managing Director of Oriental Bank of Commerce, has been appointed in the ex-banker from public sector category.
• Shailendra Bhandari, former Managing Director & CEO of ING Vysya Bank, have been appointed as Members of FSIB in the ex-banker from Private Sector category.

ii.With this approval,Department of Financial Services (DFS) in the Finance Ministry is expected to carry out necessary modifications in the Nationalised Banks (Management and Miscellaneous Provisions) Scheme of 1970/1980 with the approval of the Finance Minister Nirmala Sitharaman.
ii.The establishment of FSIB brings an end to the Banks Board Bureau (BBB), that was established in 1st April 2016 as an autonomous body for the appointments for the Board of Public Sector Banks, Public Sector Financial Institutions and Public Sector Insurance Companies and also to recommend in improvement of the financial institutions.

Edelweiss General Insurance joins hands with Avanse Financial for student travel insurance

Edelweiss General Insurance has partnered with Avanse Financial Services, an education-focused NBFC, to provide travel insurance to Indian students going abroad for higher education.
i.Under this partnership, EGI plans to offer complete coverage against medical, stay and travel inconvenience-related covers, thereby ensuring a worry-free, study and stay period for students and students will also have the choice to customize their plan with optional covers as per their needs and requirements from universities
Note- Industry reports suggest that this number is expected to reach 1.8 million by 2024, which will also lead to an increase in spending.

Muthoot Finance launches updated version of web application

On 29, June 2022, Muthoot Finance, a Non-Banking Financial Company (NBFC), has launched the new upgraded version of ‘Muthoot Online’ (https://online.muthootfinance.com/) web application, offering an extended range of features which promises an omni channel experience to its customers.
i.There are a plethora of features loaded in the web application for all types of loan repayments- including repayment of Gold Loan, Home Loan, Personal Loan and Vehicle Loans offered by Muthoot Finance.
ii.By this Launch, customers can have a hassle-free user experience to avail these services from the comfort of their homes and Customers can avail and repay gold loan, home loan, personal loan and vehicle loan, buy Insurance & zero interest products online along with accessing host of other facilities 24X7.

ECONOMY & BUSINESS

CRISIL Cuts India’s GDP Growth Estimate to 7.3% for FY23

CRISIL (Credit Rating Information Services of India Limited) has decreased India’s real Gross Domestic Product (GDP) growth forecast to 7.3% from 7.8% for FY23 due to slowing of export demand and high inflation and the country’s recent revision of  higher oil prices.

• The decrease is also due to a lot of factors like high commodity prices, elevated freight prices, export prices and weak demand-side driver of private consumption.
• The GDP predictions are in line with the Reserve Bank of India (RBI’s) estimates, which projected the economy to grow at 7.2% for FY23, from earlier guidance of 7.8%.

From the report:
i.The inflation stood at an average 6.8% in FY23 against 5.5% in FY22 reducing purchasing power that would revive consumption which is the largest component of GDP.
ii.Due to high commodity prices, slowing global growth and supply chain snarls, the current account widens to 3% of GDP in FY23 from 1.2% in FY22 which reduces the rupee value on dollar that is estimated to Rs.78 in March 2023, compared to Rs.76.2 in March 2022.
iii.The global crude is estimated to average between USD 105-110 per barrel in FY23, which is higher by 35% compared to FY22 and is highest since 2013.
About CRISIL:
Credit Rating Information Services of India Limited is a subsidiary of American company S&P Global.
Managing Director (MD) & CEO – Amish Mehta
Headquarters – Mumbai, Maharashtra

India’s marine product exports record an all-time high in FY 2021-22

According to the Ministry of commerce and industry data, India recorded all-time high exports worth USD 7.76 billion with the volume of 13,69,264 MT of seafood in FY 2021-22, despite the several challenges in its major export markets caused by the Covid-19 pandemic.
i.India shipped 13,69,264 metric tonnes (MT) of seafood worth Rs 57,586.48 crore (USD 7.76 billion) FY 2021-22, despite heavy odds and the export improved in rupee terms by 31.71 per cent, in USD terms by 30.26 per cent and in quantity terms by 19.12 per cent, during the FY 2021-22.
ii.Frozen shrimp remained the major export item in terms of quantity and value. Its shipments stood at USD 5.82 billion. The segment accounts for 75.11 per cent of the total earnings in Dollar value. The United States is the largest market of frozen shrimp, followed by China.
iii.The United States continued to be the major importer of Indian seafood in value and volume terms with an import worth USD 3,371.66 million, followed by China with an import of 2,66,989 MT worth USD 1,175.05 million.

AWARDS & RECOGNITIONS      

UK Parliament honours AIIA Director Tanuja Nesari with Ayurveda Ratna Award

Director of All India Institute of Ayurveda (AIIA), Tanuja Nesari, was awarded with the Ayurveda Ratna Award 2022 by the United Kingdom (UK) Parliament for  contribution in the field of growth of Ayurveda at global and national level.

• It was conferred by the  All-Party Parliamentary Group on Indian Traditional Sciences (ITSappg) of UK.
• The award was presented on the occasion of the International Day of Yoga (June 21).

Note:
ITSappg & Ministry of Ayush are  working on book that will serve as an introductory guide to Indian Traditional Sciences for parliamentarians.
About Tanuja Nesari:
i.Professor Dr. Tanuja Nesari has completed education  in  Ayurvedic Pharmacology( Dravyaguna vigyan ) field from Gujarat Ayurved University , Jamnagar.

• Currently , she is working as Director as well as head Division of Translational Research & Biostatic at All India Institute of Ayurveda (AIIA).

About All-Party Parliamentary Group on Indian Traditional Sciences  (ITSappg):
Objective- to spread the knowledge of Ayurveda, Yoga, Jyotish, Vastu, Unani and Sangeetam in the United Kingdom and across the world.
Established- 2014
About All India Institute of Ayurveda (AIIA):
Located- New Delhi, Delhi
Founded– 2017  

APPOINTMENTS & RESIGNATIONS      

Sandeep Kumar Gupta named as next chairman of GAIL

Sandeep Kumar Gupta, Director for Finance of Indian Oil Corporation Limited (IOCL), has been selected as the Chairman and Managing Director (MD) of GAIL (India) Limited by Public Enterprises Selection Board (PESB). He will replace Manoj Jain, who is scheduled to retire on 31st August, 2022.
i.The PESB recommendation will be vetted by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister (PM) Narendra Modi, after the go-ahead of anti-corruption bodies such as the Central Vigilance Commission (CVC) and Central Bureau of Investigation (CBI).
ii.Gupta has more than 31 years of working experience at IOC. He has been Director for Finance of IOC since 3rd August 2019.     

SCIENCE & TECHNOLOGY

DRDO Conducts Successful Maiden Flight of Autonomous Flying Wing Technology DemonstratorOn 1st June 2022 the Defence Research and Development Organisation (DRDO) successfully carried out the maiden flight of the Autonomous Flying Wing Technology Demonstrator from the Aeronautical Test Range, Chitradurga, Karnataka.

Key Points:
i.The unmanned aerial vehicle (UAV) powered by a small turbofan engine, is designed and developed by Aeronautical Development Establishment (ADE), Bengaluru, a premier research laboratory of DRDO.

• The airframe, undercarriage and entire flight control including avionics systems used for the aircraft had been developed indigenously.

ii.In the 2022 Union Budget, Rs 70,221 crore has been sanctioned for domestic defence procurement which accounts to 63 percent of the defence capital budget.
About Defence Research and Development Organisation (DRDO):
Chairman – G. Satheesh Reddy
Establishment – 1958
Headquarters – New Delhi, Delhi

BOOKS & AUTHORS

“The Life and Times of George Fernandes”, a biography of George Fernandes 

A new biography of former Union Minister of India, George Fernandes, titled “The Life and Times of George Fernandes”, is authored by Rahul Ramagundam and will be released by Penguin Random House India’s Allen Lane imprint on July 25, 2022.
i.The announcement of the “first comprehensive biography of George Fernandes, widely considered an anti-Emergency hero, marks the 47th anniversary of the Emergency on June 25th, 2022.
About George Fernandes:

• In 1989, George Fernandes became the Railways minister under V.P. Singh’s National Front coalition government, comprising mostly Left leaning parties.
• Later, Fernandes joined the BJP-led National Democratic Alliance (NDA) government under Prime Minister Atal Bihari Vajpayee in 1998 and 1999, in which he was appointed the defense minister.

IMPORTANT DAYS

World Sports Journalists Day 2022 -2 July

World Sports Journalists Day is annually observed on 2nd July to commemorate the establishment of the  International Sports Press Association also known as the Association Internationale de la Presse Sportive (AIPS) in 1924, during the Summer Olympics in Paris, France. The day encourages and recognises the sports journalists for their outstanding efforts of the journalists who bring the world of sports closer to its viewers.

• 2 July, 2022 marked the 98th anniversary of the International Sports Press Association (AIPS).
• The World Sports Journalists Day was introduced In 1994 by AIPS.

Note-Sports Journalist Federation of India (SJFI) is located in Kolkata, West Bengal. It was established in 1976  at Eden Gardens, Calcutta (Kolkata).SJFI got affiliated with AIPS in 1979.
About  International Sports Press Association (AIPS):
President-Gianni Merlo
Headquarters- Lausanne, Switzerland
>> Read Full News

World Unidentified Flying Object Day 2022 – July 2

World Unidentified Flying Object(UFO) Day is annually observed across the globe on 2nd July to create awareness about the Unidentified Flying Objects(UFO).

• The day is particularly observed by the people who believe in the existence of aliens and extraterrestrial beings from some other planet.

Note:
The term ‘UFO’ for Unidentified Flying Object was coined by the United States(US) Air Force officer Edward Ruppelt.
Background:
i.World UFO Day Organization (WUFODO) declared the 2md July of every year as World UFO Day to create awareness about the existence of UFOs and the intelligent beings from outer space.
ii.The day was previously observed on 2 occasions, July 2nd and June 24th.
>> Read Full News

STATE NEWS

Kerala Launches Medical Insurance Scheme for Government Employees & Pensioners: MEDISEP

Kerala government has launched the medical insurance scheme, Medical Insurance Scheme for State Employees and Pensioners (MEDISEP) and also the deduction of premium from the salary of June 2022 and pension of July 2022.

• The scheme is intended to provide comprehensive health insurance coverage to all serving employees of the State Government including the High Court of Kerala who are covered under the existing Kerala Government Servants Medical Attendant Rules [KGSMA Rules, 1960] and pensioners.
• MEDISEP will provide coverage of up to Rs.3 lakh per annum for the eligible expenses incurred by the beneficiary for the listed procedures Basic Benefit Package (BBP) for three years.

Highlights:

i.The scheme is applicable to directly recruited personal staff of the chief minister, ministers, opposition leader, the chief whip, Speaker, deputy speaker and chairman of the financial committees.

• It also includes newly recruited employees and their family, part time contingent employees, part time teachers, teaching, non-teaching staff of aided schools and colleges and their family and pensioners and their spouses and family pensioners on compulsory basis, and all Civil Service officers serving under the Kerala government on optional basis.

ii.This provides cashless medical assistance through an insurance company selected through the competitive bidding process.
iii.The premium stands at Rs 4,800 including 18% GST for 2022-24 policy period, where a monthly premium of Rs 500 would be deducted from the salary or pension.

• The premium shall be paid by the government in advance and later deducted from the salary of employees and pensioners.

About Kerala:
Governor – Arif Mohammad Khan
Stadium – Greenfield International Stadium (Trivandrum International Stadium), Jawaharlal Nehru International Stadium

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