Current Affairs 10 & 11 July 2022

We are here for you to provide the important Recent and Latest Current Affairs 10 & 11 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.

Our Current Affairs July 2022 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Latest Current Affairs Quiz and Monthly Current Affairs 2022 PDF which will be a pedestrian to crack your exams.

Read Current Affairs in CareersCloud APP, Course Name –  Learn Current Affairs – Free Course – Click Here to Download the APP
We are Hiring – Subject Matter Expert | CA Video Creator | Content Developers(Pondicherry)

Click here for Current Affairs 9 July 2022

NATIONAL AFFAIRS

Union Health Ministry & Panchayati Raj Ministry Sign MoU to End TB in India by 2025In order to eradicate tuberculosis (TB) in India, a Memorandum of Understanding (MoU) was signed between the Ministry of Panchayati Raj (MoPR) and the Central TB Division, Ministry of Health & Family Welfare (MoH&FW).

• The MoU would establish inter-ministerial collaborations and strategic partnerships with the goal of eradicating TB in India by 2025.

The MoU was signed by Dr. P. Ashok Babu, Joint Secretary, National Tuberculosis Elimination Program (NTEP), on behalf of the MoH&FW, and Dr. Bijaya Kumar Behera, Economic Adviser, on behalf of the MoPR.
Significance of the MoU:
i. The MoU will pave way for coordinated grassroots initiatives to promote mass awareness to end stigma and discrimination associated with TB in rural regions.

• By utilising the nationwide network of Panchayati Raj Institutions (PRIs)/Rural Local Bodies across India, including the Village Health, Sanitation and Nutrition Committee (VHSNC), it will aid in the eventual eradication of TB from India by 2025.

ii.The main objective of this MoU is to avoid convergence at the policy, programme, and implementation levels across the Ministries, in favour of a multi-sectoral and expedited response to a TB-free India.
iii. MoH&FW has developed a National Strategic Plan (2017–2025) for elimination of TB in the country by 2025.

• It strives to connect with the population covered by various ministries, including those of workers, miners, migrants, tribal populations, women, children, etc.

Both the Ministries will take forward the “TB Harega, DeshJeetega” campaign in rural India.
Campaigns to Eradicate TB in India:
i. Earlier in 2018, Prime Minister (PM) Narendra Modi launched the TB Free India Campaign at the Delhi End-TB Summit in 2018 in New Delhi, Delhi.

• It was launched to eliminate TB in India by 2025, five years ahead of the target of 2030 set by the United Nations (UN) Sustainable Development Goal (SDG) and as a commitment to fighting diseases in India, which has the highest burden of TB in the world.

ii.The “TB Harega, DeshJeetega” campaign to end TB in India was launched in 2019 by the then Union Health Minister Dr. Harsh Vardhan. Its goal was to enhance and broaden the reach of TB care services across India by 2022.

India & US Discusses on Joint Action against Drug Trade

On 8th July 2022, a joint Indo-United States (US) Counter-Narcotics Working Group (CNWG) meeting was held to discuss drug law enforcement and the increase in the capture of heroin from Afghanistan.
Key highlights:
i.The Indian delegation was headed by Narcotics Control Bureau (NCB) director-general SN Pradhan.
ii.The revenue secretary Tarun Bajaj from India and Patricia Lacina, Charge d’Affaires from the US signed an Amended Letter of Agreement on strengthening cooperation and sharing intelligence.
iii.The two sides also decided to establish a CNWG Executive Group and 3 steering groups on multilateral policy and regulatory coordination, law enforcement cooperation and drug demand or harm reduction.

Unemployment rate in India rises to 7.8% in June; the rural unemployment rate rises to 8.03%

According to the latest data published by the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate in June 2022 rose to 7.8 per cent of the total workforce from 7.12 per cent in May 2022 with the loss of 13 million jobs. The increase in the unemployment rate was mainly due to a rise in the rural unemployment rate.
i.The Rural Unemployment Rate in June 2022 increased to 8.03 per cent from 6.62 per cent in May 2022. The Urban unemployment rate in June 2022 reduced to 7.30 per cent from 8.21 per cent in May 2022.
ii.The highest unemployment rate in June 2022 are Haryana (30.6 per cent) followed by Rajasthan (29.8 per cent), while Madhya Pradesh (0.5 per cent), Chhattisgarh (1.2 per cent), Odisha (1.2 per cent), Tamil Nadu (2.1 per cent) record low rates.

Jharkhand tops in Delta Ranking of Shyama Prasad Mukherji Rurban Mission 

The Union Ministry of Rural Development has released the delta ranking of Shyama Prasad Mukherji Rurban Mission (SPMRM), in which Jharkhand secured the first position in the delta ranking with a composite score of 76.19 in the month of June 2022.
i.Jharkhand has secured eighth place in overall ranking and improved its score by 1.93 compared to May 2022, which is the highest improvement among the 34 states and union territories.
ii.Jharkhand ranks first across India in the Delta ranking followed by Puducherry and Assam.
iii.The Government of India has launched the Shyama Prasad Mukherji Rurban Mission in 2016 with the objective of stimulating local economic development, enhancing basic services and creating well-planned Rurban clusters.
Note- The 121st birth anniversary of Dr. Syama Prasad Mookerjee, who served as Independent India’s First Minister of Industry, was observed on 6th July 2022.

CSMT, Mumbai becomes India’s first station to have augmented reality experience

The Chhatrapati Shivaji Maharaj Terminus (CSMT) in Mumbai has become India’s first railway station to have an Augmented Reality (AR) experience. This technology will allow passengers at the station to get a real-time digitised timetable with a dedicated scrolling screen and railway information for an engaging experience.
i.Augmented Reality (AR) magic mirrors create a virtual world around the person standing in front of the screen, the passengers will also be able to meet animals, witness magic tricks and snowfall, and visit any place in the world virtually.
ii.The project at CSMT-Mumbai’s busiest railway station aims to generate revenue for Central Railway and offer passengers fun and infotainment during wait periods. The Central Railways is looking to bring in around Rs 50lakhs in revenues in five years.

Tata Power to spend Rs 75,000 crore in 5 years on renewables

Tata Power Company Limited (Tata Power) is set to spend Rs 75000 crore to expand capacity in its renewable business in the next 5 years. Natarajan Chandrasekaran, Chairman of Tata Power, made the announcement during the company’s annual general meeting on 7th July 2022.

• The company aims to increase its generation capacity to over 30 gigawatts (GW) by FY2026-27 from the current 13.5 GW with an increased clean energy portfolio from current levels of 34% to 60% by 2027 and 80% by 2030.
• The company plans a consolidated capex of Rs 14,000 crore in FY’23 with Rs 10,000 crore in renewables.
• Tata Power added a renewable energy capacity of 707 MW in FY22.

INTERNATIONAL AFFAIRS

Geopolitical conflicts, Covid 19 pandemic puts SDG Targets in Jeopardy: UN Report
As per the United Nations (UN) report titled ‘The Sustainable Development Goals Report 2022’, the Geo-political conflicts and the Covid-19 pandemic has put the 17 sustainable development goals (SDGs) of UN in jeopardy means they are at risk of harm.

• The combined crisis led to an additional 75 million to 95 million people living in extreme poverty in 2022 as compared with pre-pandemic projections.
• 93 million people worldwide were pushed into extreme poverty in 2020.

Key Highlights:
i.Globally, about 1 in 10 people are suffering from hunger, and around 1 in 3 people lack regular access to adequate food.
ii.In 2021, an estimated 17 million metric tons of plastic entered the world’s ocean.

• It is expected that the volume of plastic pollution entering the ocean will be doubled or tripled by 2040.

iii.Global ‘excess deaths’ due to Covid-19 reached 15 million by the end of 2021.
iv.In 2021, CO2 emissions increased by 6%, which is the highest level ever.
v.Greenhouse Gas (GHG) emissions will rise by nearly 14% over the next decade as opposed to the Paris Agreement which seeks GHGs to peak before 2025 and then decline by 43% by 2030, falling to net zero by 2050.
vi.The war in Ukraine resulted in one of the largest refugee crises of modern times which caused food, fuel and fertilizer prices to be exceptionally high.

• As of May 2022, over 100 million people have been forcibly displaced from their homes.

vii.In 2020, the global prevalence of anxiety and depression increased by an estimated 25%, with young people and women most affected.
viii.In low-income countries, the total public and publicly guaranteed debt service to export ratio rose from an average of 3.1% in 2011 to 8.8% in 2020.

India Becomes 68th Country to Join Interpol’s Child Sexual Exploitation Database

On 8th July 2022 Central Bureau of Investigation (CBI), India’s nodal agency for Interpol matters joins International Criminal Police Organization (Interpol’s) International Child Sexual Exploitation (ICSE) database and becomes the 68th country to join.

Key Points:
i.The ICSE database uses video & image comparison software to analyse child sexual abuses and make connections between victims, abusers and places.

• Detectives in all 68 countries that joined the database, can exchange information and notes on cases of child sexual abuse.

ii.The victim identification experts analyses the digital, visual and audio content of photographs and videos to retrieve clues and identify any overlap in cases which leads to locate victims of child sexual abuse.
About International Criminal Police Organisation (Interpol):
Secretary-General – Jürgen Stock
Establishment – 1923
Headquarters – Lyon, France
Members – 195 countries

BANKING & FINANCE

UBI Launches Metaverse Virtual Lounge, ‘Uni-verse’, & Open Banking Sandbox Environment

Union Bank of India (UBI), one of India’s leading Public Sector Banks (PSBs), announced the launch of ‘Uni-verse’, the bank’s Metaverse Virtual Lounge, and the Open Banking Sandbox Environment at an event in Mumbai, Maharashtra.
By launching ‘Uni-verse’, UBI has become the first Indian bank to open a virtual shop for publicity.
The Metaverse Virtual Lounge: ‘Uni- verse’
i.‘Uni-verse’ will provide a unique experience of banking to the customers. Similar to a real-world scenario, customers can explore the lounge and obtain information on the bank’s deposit, loan, government welfare schemes, digital initiatives, etc.

• In the initial phase, ‘Uni-verse’ will host product information and videos of UBI.

ii.The Metaverse Virtual Lounge initiative is a collaboration with Tech Mahindra, which offers creative and customer-centric digital experiences.

• Tech Mahindra is a subsidiary of the Mahindra Group, an Indian multinational conglomerate founded in 1945.

Note:
In February 2022, JPMorgan Chase & Co, the largest financial institution in the United States (US) became the 1st global bank to open a lounge named ‘Onyx’ in blockchain technology-based Metaverse platform Decentraland.
The Open Banking Sandbox Environment
i.UBI will collaborate with FinTechs (financial technology firms) and Start-Up partners through the Open Banking Sandbox environment to develop and introduce cutting-edge banking products.
ii.The Sandbox environment will serve as a platform for FinTechs and developers to put their ideas into action.
About Union Bank of India (UBI):
UBI has a mobile banking app, ‘nxt’ that provides a host of services such as balance enquiry, mini statement etc.,
MD & CEO – A Manimekhalai
Establishment – 1919

Razorpay, Pine Labs & Stripe Receives Payment Aggregator Gateway Licences from RBI

Online payment providers Razorpay, Pine Labs and american payments player Stripe are the 1st players to receive in-principle approval from Reserve Bank of India for payment aggregator (PA) and Gateway licence.
Key Points:
i.In march 2020, the payment aggregator framework was formally introduced which mandates that only firms approved by the RBI can acquire and offer payment services to merchants.

• The firms that were authorised to operate as PA’s will come under the direct purview of the RBI.

ii.PA’s are expected to show a net worth of Rs 15 crore on the date of their applications or as of March-end 2021 and of Rs 25 crore by the end of FY23.

• If the PA applicant’s licence is rejected, merchants must stop using the gateway’s service for 3 months.

About Razorpay:
Co-Founder & CEO – Harshil Mathur
Headquarters – Bengaluru, Karnataka

AIIB to establish an Interim Operational Hub in Abu Dhabi, UAE

Asian Infrastructure Investment Bank (AIIB) has approved the establishment of an Interim Operational Hub, its first overseas office in Abu Dhabi, United Arab Emirates (UAE), pending formal agreement to be finalised.
i.The hub will provide AIIB with a robust platform to enable effective supervision of its growing investment portfolio, and strengthen its project monitoring and implementation services across the globe.
ii.AIIB Starting with 57 founding members (UAE is one of them) in 2016 at headquarters Beijing, China, now AIIB has 105 members and developed a portfolio of 181 projects in 33 member countries with a total amount of USD 35.7 billion.
iii.The bank is headed by former Chinese Vice Minister for Finance, Jin Liqun. Urjit Patel, Former Reserve Bank Governor (India) is one of its five Vice Presidents.
Note- India is the second-largest shareholder of the Asian Infrastructure Investment Bank (AIIB) after China.

SBI, KDEM Partners to Offer Collateral Free Loans to Start-ups in Karnataka

The Karnataka Digital Economy Mission (KDEM) has signed a memorandum of understanding (MoU) with State Bank of India (SBI) to support the start-up ecosystem of Karnataka.

• The MoU will further allow SBI and KDEM to participate in cluster funds under Karnataka Information Technology Venture Capital Fund (KITVEN), which has focused on long term investment in seed or rapid growth opportunities within Karnataka.

Key Highlights:
As per the MoU, SBI will utilise the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme to provide loan up to Rs.2 crore loan without collateral recognised under KDEM’s Elevate programme, that support around 1000 start-ups.

• The Elevate-Idea2PoC was launched by the Department of Electronics, Information Technology (IT), BT, and Science & Technology (S&T), Government of Karnataka to identify and nurture innovative start-ups and provide them the necessary boost at various stages through funding or mentoring.

ii.SBI will open a start-up desk in the Innovation Tower at HSR layout, Bengaluru, Karnataka to offer services to start-ups. Similar desks will be set up in the other three hubs in Belagavi, Hubbali and Mangaluru as part of the KDEM’s ‘Beyond Bengaluru’ initiative.

• Additionally, SBI will also contribute to the Rs 75-crore equity cluster fund to develop the three hubs along with Rs. 25 crore from the Government of Karnataka.

About Karnataka:
Governor – Thawar Chand Gehlot
Stadium – Koramangala Indoor Stadium, Mangala Stadium, Srikantadatta Narasimha Raja Wadeyar Ground (Gangotri Glades Cricket Ground)
Lakes –  Hirekolale Lake, Ayyanakere Lake

RBI: Imposes Restrictions on Four Co-op Banks; Penalises FB & BOI for Violating Regulations

On 8th July 2022 the Reserve Bank of India (RBI) imposed various restrictions on 4 cooperative banks under the Banking Regulation Act, 1949 for 6 months which also included a cap on withdrawals by depositors.
Highlights:
i.The 4 banks are Ramgarhia Co-operative Bank, New Delhi, Sahebrao Deshmukh Co-operative Bank, Mumbai, Maharashtra, Sangli Sahakari Bank, Mumbai; and Sharada Mahila Co-operative Bank Limited, Tumkur, Karnataka.

• As per the RBI directives, restriction became effective after the closure of business hours from 8th July 2022.

ii.Cap on withdrawals – A withdrawal cap of Rs. 50,000 per depositor is imposed on Ramgarhia Co-operative Bank, Sahebrao Deshmukh Cooperative Bank is imposed with a cap of Rs. 50,000, a cap of Rs. 45,000 per depositor on Sangli Sahakari Bankthe Bank and Rs. 7000 per depositor on Sharada Mahila Co-operative Bank.
RBI penalises FB, BOI & Dhani Loans and Services for Violating Regulations
The Reserve Bank of India (RBI) by an order dated 7th July 2022, imposed a monetary penalty on Federal Bank (FB) Limited, Bank of India (BOI) and Dhani Loans and Services Limited.
Highlights: 
i.A penalty of Rs 5.72 crore has been imposed on FB Limited for non-compliance with certain provisions of its Know Your Customer (KYC) guidelines.

• This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act, 1949

ii.Monetary penalty of Rs 70 lakh on BOI for non-compliance with certain provisions of the Reserve Bank of India’s KYC Direction, 2016 and circular instructions on Compliance Function in Banks issued by RBI.

• This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) and Section 51 (1) of the Banking Regulation Act, 1949

iii.Dhani Loans and Services Limited, Gurugram was imposed with Rs 7.60 lakh for non-compliance with the RBI’s KYC Directions, 2016 issued by RBI.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governor – T. Rabi Sankar, M. Rajeshwar Rao, M.D. Patra, M.K. Jain
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra

Tata MF partners with Camspay to launch UPI Autopay facility for SIPs

Tata Mutual Fund has partnered with Computer Age Management Services Limited, CAMSPay to introduce Unified Payments Interface (UPI) Autopay for immediate Systematic Investment Plan (SIPs), UPI Autopay will enable investors in mutual funds to use their Virtual Payment Address (VPA) or UPI handle to mandate an Autopay facility for their SIP contributions.
i.The inclusion of UPI Autopay option makes the process easy and may increase investors’ willingness to invest.
ii.Under this process, CAMSPay’s UPI AutoPay offers real time Third Party Payment validation (TPV) and same-day settlement hence investors receive NAV benefits.

Axis bank signs MoU with Indian Air Force to manage salary accounts

Private sector lender Axis Bank signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) to manage salary accounts of the defense personnel under its ‘Power Salute’ initiative.
i.The signing ceremony was held at Air Force Headquarters, with the IAF, represented by Air Vice-Marshal Ashok Saini in the presence of Air Chief Marshal V R Chaudhari and Axis Bank representatives, Reynold D’ Souza, Executive Vice President.
ii.Under the MoU, the bank will offer benefits to all ranks of Indian Air Force personnel including the veterans, cadets/recruits It includes a personal accident cover of up to Rs 56 lakh, total permanent disability cover benefit of Rs 46 lakh, air accident covers of Rs 1 crore among others.
iii.There will be no processing fee to open the account, while as many as 12 EMI waivers will be given on home loans and it will also offer additional zero balance accounts for 3 family members with no charges.

City Union Bank partners with Shriram General Insurance for distribution of insurance products

City Union Bank signed a corporate agency agreement with Shriram General Insurance Company for the distribution of the insurance products through the Bank’s network across India.
i.Under the agreement, Shriram General Insurance would offer both personal lines of insurance products (motor, personal accident, home and travel) and commercial lines of insurance products (property, marine and engineering insurance) to the Bank’s customers.

• Managing Directors (MD) and Chief Executive Officers (CEO) of City Union Bank – N. Kamakodi.
• Managing Directors (MD) and Chief Executive Officers (CEO) of Shriram General Insurance company-  Anil Kumar Aggarwal.

ENVIRONMENT

ICAR-NBFGR Scientists Discover 2 New Species of Marine Fishes Along TN Coast

Scientists from the Indian Council of Agricultural Research’s National Bureau of Fish Genetic Resources (ICAR-NBFGR) have discovered two new species of marine fishes, named Ariosoma albimaculata and Dussumieria modakandai, along the coast of Tamil Nadu (TN).

• Species – One species is a sort of eel, from the Colachel fish touchdown centre in Kanyakumari, TN and the other is the sardine fish from Pattinapakkam fish landing centre in Chennai, TN.

About the species:
i.Eel species – It is the eighth species of congrid eels to be documented in Indian waters and has been named Ariosoma albimaculata for its white spotted stout conger. The Eel is non-poisonous.

• The species albimaculata is derived from Latin phrases ‘albus’, meaning white and ‘maculatus’, meaning spotted,  denoting a white spot on the dorsal fin.
• It was caught at a depth of about 200 metre within the Arabian Sea and lives in the uncommon habitats like continental slopes and underwater seamount crevices with 240-487 mm in length and distinct for its white spot on dorsal-fin origin, grey and glossy physique colour.
• In June 2022 the findings have been published in the international journal Ichthyological Research, titled ‘Description of a new congrid eel, Ariosoma albimaculata from the southwest coast of India, Arabian Sea’ which is authored by Paramasivam Kodeeswaran, Deepa Dhas, Thipramalai Thangappan Pillai Ajith Kumar, and Kuldeep Kumar Lal.

ii.Sardine species – In December 2021 the findings of the new sardine fish species had been published in the worldwide journal Fish Biology.

• It has been named Dussumieria modakandai, where modakandai is derived from two Tamil phrases – moda (mushy) and kandai (a sort of fish).

About ICAR – National Bureau of Fish Genetic Resources (NBFGR):
Chairman – Kuldeep K. Lal
Establishment – 1983
Headquarters – Lucknow, Uttar Pradesh (UP)

OBITUARY

Former Angolan President José Eduardo Dos Santos Passes Away

On 8th July 2022 Angola’s former and one of the longest serving president José Eduardo Dos Santos passed away in Barcelona, Spain at the age of 79 years.
His achievements:
i.José Eduardo dos Santos was born in Luanda, Angola in 1942 and joined the MPLA (Movimento Popular de Libertação de Angola) in 1961.
ii.He came to power 4 years after Angola gained independence from Portugal in 1975 and he voluntarily stepped down from the presidency, after he fell ill in 2017.
iii.José Eduardo Dos Santos served as the President of Angola from 1979 to 2017.  In 2017, he was replaced by João Lourenço(the incumbent President of Angola).

• After Angola’s independence, dos Santos became foreign minister and later planning minister and deputy prime minister.
• At 37 years, he became president upon the death of Agostinho Neto, Angola’s first leader, in 1979.

ii.He fought Africa’s longest civil war during his presidential period and turned Africa into a major oil producer and at the same time one of the world’s poorest and most corrupt nations.

• Between 2002 and 2014, as oil production grew and prices boomed, Angola’s economy expanded tenfold, from USD 12.4 billion to USD 126 billion.

iii.Angola became sub-Saharan Africa’s second-largest oil producer after Nigeria, producing close to 2 million barrels per day and it also unearthed more than USD 1 billion worth of diamonds each year.

*******

List of Less Important News – Click Here

*****Click Here View – AC Excluded News*****

Current Affairs Today (AffairsCloud Today)