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MoS Rajeev Chandrasekhar Releases “Globalise to Localise” Report Exploring USD 300 Billion in Electronic Production by 2026Rajeev Chandrasekhar, Union Minister of State (MoS), Ministry of Electronics and Information Technology (MeitY), published a report titled “Globalise to Localise: Exporting at Scale and Deepening the Ecosystem Are Vital to Higher Domestic Value Addition.”
- The report investigates how India can reach its goals of USD 300 billion in electronics production and USD 120 billion in exports by 2025–2026.
- It is prepared by the Indian Council for Research on International Economic Relations (ICRIER) in collaboration with the India Cellular and Electronics Association (ICEA).
Key Inferences from The Report
i.The Globalise to Localise report analyzes the empirical relationship between exports and the share of domestic value addition in successful nations.
ii.According to the report, China and Vietnam have adopted the motto “first globalise, then localise,” which indicates that in the beginning, they were focused on reaching a global scale in exports and shifted their focus to include more local content.
About Ministry of Electronics & Information Technology (MeitY):
Union Minister – Ashwini Vaishnaw (Rajya Sabha – Odisha)
Minister of State (MoS) – Rajeev Chandrasekhar
>> Read Full News
Delhi CM Arvind Kejriwal launches ‘First Virtual School’and claims country’s first of its kind
On 31st August 2022, Arvind Kejriwal, Chief Minister (CM) of Delhi launched the First Virtual School’- Delhi Model Virtual School (DMVS), affiliated with the Delhi Board of School Education and claimed that this school was a India’s First Virtual School.
- The virtual school system was initiated by the Aam Aadmi Party (AAP) government and aims to help students who are unable to take physical classes.
- National Institute of Open Schooling (NIOS) denied the above claim and informed that the first virtual school of the country was already launched by NIOS in August 2021.
i.The virtual school offers online classes, including virtual lectures, recorded and live lectures.
ii.It also provides skills-based courses, training for competitive exams, JEEMain (Joint Entrance Examination), NEET ( National Eligibility cum Entrance Test) and CUET (Central University Entrance Test), in partnership with Google and Schoolnet India.
iii. The initial phase of this system will be taught to the students in grades 9 to 12. An individual who has studied up to class 8 and dropped, is in the age group of 13 to 18 years can apply for admission to class 9.
iv.The application for the very first batch has started and any student from India can apply on the website http://www.dmvs.ac.in.
BANKING & FINANCE
Maharashtra Government receives financial assistance from ADB to Set Up Medical Colleges in 12 Districts
In a significant development, the Government of Maharashtra would receive a loan of Rs. 4,000 crore from the Asian Development Bank (ADB) to establish medical colleges in 12 districts of the state that now lack a single medical college.
- The 12 districts include Jalgaon, Satara, Alibaug, Sindhudurg, Osmanabad, Parbhani, Amravati, Ratnagiri, Gadchiroli, Bhandara, Ambernath, and Nashik Super Speciality Hospital.
i.In this regard, Maharashtra Deputy Chief Minister Devendra Fadnavis convened a meeting of the Medical Education department, which included ADB representatives.
ii.The state will soon conclude the technical procedures for receiving the funding in stages, with the goal of completing all of these projects over the next two years.
iii.The financing will also be used to upgrade the existing hospitals and medical colleges.
About Asian Development Bank (ADB):
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
President – Masatsugu Asakawa
Established – 1966
Headquarters – Manila, Philippines
Member Countries – 68 members (49 from Asia and Pacific regions)
ADB Country Director for India – Takeo Konishi
RBI imposed Monetary Penalty on 8 co-operative banks
The Reserve Bank of India (RBI) has imposed a Monetary Penalty on 8 co-operative banks for breaching certain provisions related to ‘income recognition, asset classification, provisioning’ and finance for housing schemes.
- Rs 55 lakh penalty on the Visakhapatnam Co-operative Bank Visakhapatnam, Andhra Pradesh for lack in regulatory compliances. The highest penalty among all banks was imposed on The Visakhapatnam Co-operative Bank.
- Rs 10 lakh penalty on Bharat Heavy Electricals Employees’ Co-operative Bank, Kailasapuram, Tiruchirappalli, Tamil Nadu; The Darussalam Co-operative Urban Bank, Hyderabad, Telangana; the Nellore Co-operative Urban Bank Limited, Nellore, Andhra Pradesh and Kakinada Co-operative Town Bank Ltd, East Godavari, Andhra Pradesh.
- Rs 5 lakh on the Ottapalam Co-operative Urban Bank Ltd, Palakkad, Kerala and the National Urban Co-operative Bank Limited, Pratapgarh, Uttar Pradesh.
- Rs 1 lakh penalty imposed on The Kendrapara Urban Cooperative Bank, Kendrapara, Odisha.
ECONOMY & BUSINESS
NHPC inks MoU with PTC India Limited for sale of power to be generated from upcoming West Seti & Seti River-6 Projects in Nepal
On 30 August 2022, NHPC Limited (formerly known as National Hydroelectric Power Corporation) signed a Memorandum of Understanding (MoU) with PTC India Limited (formerly Power Trading Corporation of India Limited) at NHPC Corporate Office, Faridabad, Haryana for sale of power to be generated from upcoming West Seti & Seti River-6 Projects in Nepal.
The MoU was signed by Abhay Kumar Singh, Chairman & Managing Director (CMD), NHPC and Dr. Rajib K. Mishra, CMD, PTC India Limited.
R.P. Goyal, Director (Finance), Biswajit Basu, Director (Projects), V.R. Shrivastava, Executive Director (SBD&C) from NHPC and Harish Saran, Executive Director (Commercial & Operations) etc were also present.
About the MoU:
i.Under the agreement, PTC India will purchase the Contracted Capacity from NHPC from the date of commercial operation of above Projects for onward sale to the State Utilities/Discoms/Bulk Consumers on long term basis in India and neighbouring countries.
ii.PTC will also endeavour to sell any untied capacity on medium/short term basis or on power exchanges.
NHPC signed an MoU with the Investment Board Nepal (IBN) for preparation of a detailed project report (DPR) and development of West Seti (750 MW) and Seti River 6 (450 MW) projects in Nepal.
- It will invest more than ₹18,000 crore in Nepal to develop the two hydropower projects.
About NHPC Limited:
CMD- Abhay Kumar Singh
AWARDS & RECOGNITIONS
Forbes Asia 100 to Watch: 11 Indian start-ups features in the list
Forbes Asia released the 2nd edition of the list titled ‘Forbes Asia-100 to Watch 2022’. The list highlights small companies and startups on the rise across the Asia-Pacific region.
About ‘Forbes Asia-100 to Watch’ list 2022:
i.The list for 2022 featured 11 start-up companies from India along with 19 companies from Singapore, followed by 16 start-ups from Hong Kong, 15 from South Korea, and 13 from China.
ii.According to Forbes, 15 countries and territories are represented across 11 categories that include biotechnology and healthcare, e-commerce and retail, and finance.
Companies had to be headquartered in the Asia-Pacific region, Privately owned, for profit.
Companies have not more than USD 50 million in its latest annual revenue and have not more than USD 100 million in total funding through 1 August 2022.
Indian start-ups ‘Forbes Asia-100 to Watch’ list:
|Pocket FM||Rohan Nayak||2018||Entertainment & Media|
|Euler Motors||Saurav Kumar||2018||Logistics & Transportation|
|Park+||Amit Lakhotia||2019||Logistics & Transportation|
|FRND||Bhanu Pratap Singh Tanwar||2018||Consumer Technology|
|Bijnis||Siddharth Vij||2015||E-commerce & Retail|
|GoKwik||Chirag Taneja||2020||E-commerce & Retail|
APPOINTMENTS & RESIGNATIONS
Colonel Abdoulaye Maiga appointed as interim PM of Mali
The Malian military government has appointed Colonel Abdoulaye Maiga as Interim Prime Minister (PM) of Mali (West African country), after Mali’s Civilian Prime Minister (PM) Choguel Kokalla Maiga was admitted to hospital.
- Before he was appointed as interim PM, Colonel Maiga was the government spokesman and Minister of Territorial Administration.
- Choguel Kokalla Maiga has served many times as Minister in previous governments. He was named premier after the soldiers who took power in August 2020 and carried out a 2nd success in May 2021.
- He has been the Government’s most outspoken voices in repeated public rows with West Africa neighbours and international partners.
Acefour Accessories appointed Jasprit Bumrah as the Brand Ambassador of its Brand “Uppercase”
Acefour Accessories, a travel accessories company appointed Jasprit Bumrah, an Indian Cricketer as brand ambassador for its eco-friendly luggage brand “Uppercase ‘‘ for two years. He will lead the ”Never Ordinary Campaign”.
i.The campaign is managed by RISE Worldwide, an initiative of Reliance Industries Limited (RIL) and India’s largest sports and entertainment company.
ii.It highlights that Uppercase bags are GRS (Global Recycle Standard)-certified sustainable travel gear on various social platforms.
Santhosh Iyer appointed as MD & CEO of Mercedes-Benz
India’s largest luxury car manufacturer, Mercedes-Benz India Pvt. Ltd, has appointed Santhosh Iyer as Managing Director (MD) and Chief Executive Officer (CEO) of the company with effect from 1 January, 2023.
He will replace Martin Shwenk, who will take over as President and CEO of Mercedes-Benz Thailand.
- Santhosh Iyer is currently serving as the company’s Vice President (Sales & Marketing).
- At the age of 46, Santhosh Iyer became the first Indian and the youngest person to be appointed as head of Mercedes-Benz India.
- Santhosh Iyer has been associated with Mercedes-Benz India since 2009.
ACQUISITIONS & MERGERS
CCI Approval: Aditya Marketing and Manufacturing merges into Umang Commercial; SIIC holds stake in Olam Agri Holdings; Caladium’s 7.49 % Stake Buy in Aditya Birla Fashion and Retail LimitedThe Competition Commission of India (CCI) has approved few proposals on merging and stake acquisition that includes,
i.CCI approves the merger of Aditya Marketing and Manufacturing Private Limited into Umang Commercial Company Private Limited.
ii.CCI approves acquisition of 35.43 percent stake in Olam Agri Holdings Private Limited (Olam Agri) by SALIC International Investment Company (SIIC).
iii.CCI approves the acquisition of approximately 7.49 percent shareholding in Aditya Birla Fashion and Retail Limited on a fully diluted basis by the Caladium Investment Private Limited GIC (Ventures) by way of preferential issuance of equity and warrants.
>> Read Full News
SCIENCE & TECHNOLOGY
Union Minister Dr Manshukh Mandaviya Launches IPDMS 2.0 & Pharma Sahi Daam 2.0 App
On August 29, 2022, Union Minister Dr Mansukh Mandaviya, Ministry of Chemicals and Fertilizers, addressed the Silver Jubilee (25 years) Celebrations of the National Pharmaceutical Pricing Authority (NPPA) in New Delhi, Delhi.
- At the inaugural ceremony, Dr Mansukh Mandaviya introduced the Integrated Pharmaceutical Database Management System 2.0 (IPDMS 2.0) and the upgraded Pharma Sahi Daam 2.0 App.
IPDMS 2.0 is an integrated responsive cloud-based application developed by NPPA with technical assistance from the Centre for Advanced Computing (C-DAC), Ministry of Electronics & Information Technology (MeitY).
The Pharma Sahi Daam 2.0 App will have new features such as speech recognition; search for medicines by brand/formulation, availability in Hindi and English, a sharing function, a customer complaint management system, and bookmarking medicines.
During the inaugural session, a publication titled “An Overview of Drug Pricing @ NPPA 25 Year Odyssey” was also released.
About Ministry of Chemicals and Fertilizers:
Union Minister – Dr. Mansukh Mandaviya (Rajya Sabha – Gujarat)
Minister of State (MoS) – Bhagwanth Khuba
>> Read Full News
Indian Railways set up ‘Meghdoot’ machines at Mumbai stations
Indian Railways set up ‘Meghdoot’ machines at Dadar, Thane and other stations of Mumbai Division, Maharashtra.
- The ‘Meghdoot’ machines use innovative technology to convert water vapour in the air into potable clean drinking water.
- It utilizes the science of condensation to extract water vapour from the surrounding atmosphere.
- Meghdoot machines are research-driven and it does not need source water. Also the technology is environmentally-friendly with zero maintenance.
i.Maithri Aquatech Pvt Ltd. was awarded to set up 17 ‘Meghdoot, Atmospheric Water Generator Kiosks’ over Mumbai Division of Central Railway under NINFRIS (New, Innovative Non Fare Revenue Ideas Scheme) policy for a period of 5 years.
- The company has also collaborated with the CSIR-Indian Institute of Chemical Technology (IICT), Hyderabad to produce water of the highest quality.
- It uses an Atmospheric Water Generator (AWG) to convert water vapour in the air into fresh and clean drinking water.
ii.The Licence fee of this innovative project is Rs 25,50,000 per annum, in which Rs 1,50,000 per year for each kiosk at 6 stations- CSMT-5, Dadar -5, Kurla-1, Thane -4, Ghatkopar -1, Vikhroli- 1.
India Joins Elite Club with Army Set to Possess Quantum Communication Technology
The Indian Army is set to possess advanced Quantum Communication Technology, thereby joining an elite list of nations with indigenous quantum technology that will equip troops with a high-end secured defence system.
- The technology has been developed by the Bengaluru-based startup QNu Labs and under the aegis of Innovation for Defence Excellence (iDEX), a Defence Innovation Organisation (DIO).
- The technology provides advanced secured communication through Quantum Key Distribution (QKD) systems that is non-hackable.
- China, the United States (US), Canada and other European countries are global leaders in the QKD systems and the Defence Research Development Organisation (DRDO) has made some breakthroughs.
About QKD system:
i.A QKD system allows the creation of a quantum secure secret pair of symmetric keys between two endpoints that are separated by a certain distance (over 150 Kms) in terrestrial optical fibre infrastructure.
- The QKD helps create a non-hackable quantum channel for creating unhackable encryption keys, which are used to encrypt critical data, voice or video across the endpoints.
ii.The Army has initiated the procurement process of the QKD systems by issuing a commercial Request For Proposal (RFP) for its deployment.
- The Indian Army uses this technology to fuse a large density of data and decision support capability to securely deliver communication to troop leaders at various levels.
About QNu Labs:
Co-founder and CEO – Sunil Gupta
Headquarters – Bengaluru, Karnataka
New Zealand Cricketer Colin de Grandhomme Announces Retirement from International Cricket
On 31st August 2022, New Zealand all-rounder Colin de Grandhomme (36 years) announced his retirement from international cricket.
About Colin de Grandhomme:
i.Colin de Grandhomme was born on 22nd July 1986 and is a former Zimbabwean-born New Zealand international cricketer.
ii.He began his career by playing for Manicaland in Zimbabwe, and was a part of the Zimbabwe team at the 2003-04 Under-19 Cricket World Cup in Bangladesh.
- He debuted for New Zealand Cricket Team in 2012.
- From 2006 to 2018, he played for Auckland in New Zealand domestic cricket and in 2017, he played in England for Warwickshire County Cricket Club and also for Kolkata Knight Riders in the 2017 Indian Premier League (IPL).
- In May 2018, he signed for Northern Districts and played for Royal Challengers Bangalore in 2018 and 2019 IPL seasons.
- In May 2021, he was signed by Hampshire for the T20 Blast and was drafted by Southern Brave for the inaugural season of The Hundred.
i.He has played 29 Test matches with a score of 1432 runs at 38.70, including centuries against the West Indies and South Africa, and 49 wickets at 32.95 including 6 for 41 on debut against Pakistan.
ii.He has also played 45 One-Day International Matches with the total score of 742 runs. iii.He has an impressive record, particularly in the Test arena, which brought him 18 wins and also played a key role in the BLACKCAPS inaugural ICC World Test Championship 2019-21 campaign, which ended with a victory over India in the final at Southampton.
iv.He has also played in 41 T20Is, scored 505 runs at a strike-rate of 138.35 and took 12 wickets at 38.41.
Former Soviet Union President & Nobel Peace Prize Winner Mikhail Gorbachev Passed Away
On August 30, 2022, Mikhail Sergeyevich Gorbachev, the last leader of the Soviet Union (President), died at the age of 91 in Moscow, Russia.
- Gorbachev was awarded the Nobel Prize for Peace in 1990 for putting an end to the cold war without any bloodshed in the Soviet Union.
About Mikhail Gorbachev:
i.Gorbachev was born on March 2, 1931, in Krasnogvardeysky District, Stavropol territory(Now in Russia).
ii.He became a Soviet official, General Secretary of the Communist Party of the Soviet Union (CPSU) Central Committee (at the age of 54)from 1985 to 1991.
iii. He served as the President of the Soviet Union from 1990 to 1991.
iv.His work on democratising and decentralising the economy of his country led to the downfall of Communism and the disband of the Soviet Union in 1991 and he resigned on December 25, 1991.
v.After his presidential term, he launched the Gorbachev foundation and became a vocal critic of Russian Presidents (Boris Yeltsin and Vladimir Putin) and campaigned for Russia’s social-democratic movement.
BOOKS & AUTHORS
Dr Kalubhai unveils a book titled “Science Behind Surya Namaskar” at AIIA
Dr Munjpara Mahendrabhai Kalubhai, Minister of State for AYUSH released a book titled “Science Behind Surya Namaskar” a collection of evidence-based research on one of the most well-known Yoga asanas at the AIIA.
The book was compiled by the All-India Institute of Ayurveda (AIIA) department of Swasthavritta and Yoga, at AIIA.
The book was released during the Continuing Medical Education (CME) Programme 2022 organised by the departments of Swasthavritta, Panchakarma, and Darvyaguna in association with Rashtriya Ayurveda Vidyapeeth (RAV), New Delhi. at the AIIA from 22nd-27th August 2022.
- The book is a collection of evidence-based research on one of the most well-known Yoga asanas at the AIIA.
- Dr Kalubhai also inaugurated the new Panchakarma Room in the Hospital block and flagged off an e-rickshaw and a public ambulance for AIIA.
Nagaland gets 2nd Railway Station after more than 100 Years After a gap of more than 100 years(119 years) Nagaland got its 2nd Railway Station on Dhansari-Shokhuvi railway line at Shokhuvi. The Chief Minister (CM) of Nagaland, Neiphiu Guolhoulie Rio has flagged off the Donyi Polo Express from Shokhuvi Railway station.
The first railway station of Nagaland is Dimapur Railway Station, inaugurated in 1903.
i.The Donyi Polo Express runs between Guwahati in Assam and Naharlagun in Arunachal Pradesh every day. Now the train service has been extended till Shokhuvi, a few Kilometres from Dimapur.
ii.Shoukhuvi railway station is part of the Dimapur- Zubza Railway project, an alternative train route for Nagaland and Manipur passengers to Guwahati.
iii. The CM appreciated the officers, engineers, and staff of Northeast Frontier Railways (NFR), since the station was inaugurated on the “Red Letter Day”.
iv.The foundation stone for the 90-km- long broad gauge route from Dhansiri (Assam) to Zubza (Nagaland) was laid in 2016 (under progress) and the deadline was extended from 2020 to 2024.
Governor- Jagdish Mukhi
Festivals- Mim Kut Festival; Bushu Festival
Uttarakhand Education Department Launches e-Governance Portal – Samarth
On 30th August 2022 Uttarakhand’s education department launched an e-governance portal, ‘Samarth’, which will provide all administrative and educational updates.
- The updates include information on entrance examinations, salary structures, appointments from 5 state universities and 140 public schools.
i.A teacher-sharing format will be developed in future to provide quality education to students which connects multiple private and government schools across India.
- This portal also provides access to 40 academic study modules
ii.Around 200 assistant professors of science subjects will be sent to the Indian Institute of Science (IIS), Bengaluru for special training, while state university teachers will receive training in the Indian Institute of Management (IIM), Kashipur.
Note – Uttarakhand government will implement the New Education Policy (NEP-2020) from September 2022.
Governor – Gurmit Singh
Festivals – Uttarayani Mela or Uttarayani Fai, Nandadevi Mela
Rivers – River Ganga, Yamuna River
Alappuzha declared as 5th fully Digital Banking District in Kerala
Alappuzha has become the 5th fully Digital Banking District in Kerala. This declaration was made by Thomas Mathew, Regional Director (Kerala and Lakshadweep), Reserve Bank of India (RBI).
The project was initiated by the RBI with the support of the State Level Bankers’ Committee (SLBC) and respective district administration as part of the Union Government’s Digital India project.
- Thrissur (August 2021), Kottayam (February 2022), Palakkad, and Kasaragod have already become fully digital banking districts in Kerala. The Kerala Government plans to make the remaining 12 districts fully digital.
- List of Current Governors in India – AUGUST 2022
- List of Current Chief Ministers in India – AUGUST 2022
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Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 1 September 2022|
|1||MoS Rajeev Chandrasekhar Releases “Globalise to Localise” Report Exploring USD 300 Billion in Electronic Production by 2026|
|2||Delhi CM Arvind Kejriwal launches ‘India’s First Virtual School’|
|3||Maharashtra Government to Take Rs. 4000 Crore Loan from ADB to Set Up Medical Colleges in 12 Districts|
|4||RBI imposed Monetary Penalty on 8 co-operative banks|
|5||NHPC inks MoU with PTC India Limited for sale of power to be generated from upcoming West Seti & Seti River-6 Projects in Nepal|
|6||Forbes Asia 100 to Watch: 11 Indian start-ups features in the list|
|7||Colonel Abdoulaye Maiga appointed as interim PM of Mali|
|8||Acefour Accessories appointed Jasprit Bumrah as the Brand Ambassador of its Eco-friendly Luggage Brand “Uppercase”|
|9||Santhosh Iyer appointed as MD & CEO of Mercedes-Benz|
|10||CCI Approval: Aditya Marketing and Manufacturing merges into Umang Commercial; SIIC holds stake in Olam Agri Holdings; Caladium’s 7.49 % Stake Buy in Aditya Birla Fashion and Retail Limited|
|11||Union Minister Dr. Manshukh Mandaviya Launches IPDMS 2.0 & Pharma Sahi Daam 2.0 App|
|12||Indian Railways set up ‘Meghdoot’ machines at Mumbai stations|
|13||India Joins Elite Club with Army Set to Possess Quantum Communication Technology|
|14||All- Round Cricketer Colin de Grandhomme Announces Retirement from International Cricket|
|15||Former Soviet Union President & Nobel Peace Prize Winner Mikhail Gorbachev Passed Away|
|16||Dr Kalubhai unveils a book titled “Science Behind Surya Namaskar” at AIIA|
|17||Nagaland gets 2nd Railway Station after more than 100 Years|
|18||Uttarakhand Education Department Launches e-Governance Portal – Samarth|
|19||Alappuzha declared as 5th fully Digital Banking District in Kerala|