Current Affairs 11 March 2022

We are here for you to provide the important Recent and Latest Current Affairs  11 March 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

Cabinet Approvals on March 9, 2022 

On March 9, 2022, the Union Cabinet chaired by Prime Minister (PM) of India, Narendra Modi has approved the following proposals:
i.The Union Cabinet has approved the Memorandum of Understanding (MoU) signed between the Indian Council of Medical Research (ICMR), and Deutsche Forschungsgemeinschaft e.V. (DFG), Germany signed in December 2021, and in accordance with Rule 7(d)(i) of the Second Schedule of Government of India (Transaction of Business) rules 1961.
ii.The Union Cabinet also approved the MoU signed between ICMR, and the United States’ (US) National Institute of Allergy and Infectious Diseases (NIAID), and National Institute of Health (NIH) of Department of Health and Human Services, Maryland in September 2021.
iii.The Union Cabinet approved the MoU signed between ICMR and the Oxford University, the UK in November 2021.
iv.In accordance with the Cabinet approval, a Host Country agreement was signed between the Government of India and the World Health Organization (WHO) under which the WHO Global Centre for Traditional Medicine (WHO GCTM) will be set up in Jamnagar, Gujarat under the Ministry of AYUSH.
v.On the lines of the of the Budget Announcement for 2021-22, the Union Cabinet approved the setting up National Land Monetization Corporation (NLMC) as a Special Purpose Vehicle (SPV) to undertake monetization of surplus land and building assets of CPSEs and other government agencies.
vi.The Union Cabinet approved the amendment of the Second Schedule to the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 for specifying the rate of royalty in respect of certain minerals.
About Indian Council of Medical Research (ICMR):
It is the apex body in India for the formulation, coordination and promotion of biomedical research.
Director General– Prof. Balram Bhargava
Headquarters– New Delhi, Delhi
About Deutsche Forschungsgemeinschaft e.V. (DFG):
President– Prof Dr. Katja Becker
Headquarters– Bonn, Germany
>> Read Full News

India adds record 1,700 MW Rooftop Solar Capacity in 2021: Mercom India Report

According to a Mercom India Research report title ” Mercom India Rooftop Solar Market Report Q4 and Annual 2021″,  India set a new record of installed  1,700 megawatt (MW) of rooftop solar capacity in 2021, registering a 138 % rise annual basis compared to 719 MW of rooftop solar capacity in 2020.
i.The record 1.7 GW of rooftop solar capacity in 2021 is  the highest ever in a year.
ii.In 2021, the residential and commercial segments accounted for 35%  and 33 % of installed rooftop solar capacity, respectively. 

• Industrial rooftop solar installations constituted 26 %, and the remaining 6%  was from the government segment.

iii.Gujarat with 27%  share, was the leading state for cumulative rooftop solar installations  followed by Maharashtra (14%) and Rajasthan (10%).

•  The top 10 states accounted for approximately 85% of cumulative rooftop solar installations in 2021.

Tender distribution:
The  distribution companies (DISCOMS) issued empanelment tenders in Kerala, Punjab, Gujarat, Uttar Pradesh, Jharkhand, Haryana, West Bengal, Tripura, and Karnataka under Phase-II of Ministry of New and Renewable Energy (MNRE) rooftop solar programme during 2021. 

• Kerala State Electricity Board (KSEB) accounts  27% of the total issued tenders and other states like Maharashtra, Jharkhand, West Bengal and Karnataka accounted for 29% issued tenders.

Note-  Phase – II of MNRE’s Grid Connected Rooftop Solar Programme aims to achieve  40 GW capacity from Rooftop Solar by the year 2022 and also to promote domestic manufacturing of solar cells and module.
About Mercom Capital Group (India):
CEO- Raj Prabhu
Headquarters– Bengaluru, Karnataka

INTERNATIONAL AFFAIRS

V-Dem’s Democracy Report 2022: India Ranked 93rd & Sweden Tops

According to the Swedish based V-Dem (Varieties of Democracy) Institute report titled, ‘Democracy Report 2022: Autocratisation Changing Nature’, India has been ranked among the top ten autocratic countries in the world and has been ranked 93rd on the Liberal Democracy Index (LDI) out of 179 countries
Rankings:
Top 5 LDI Countries – Sweden, Denmark, Norway, Costa rica and new Zealand
Most autocratic countries – Afghanistan, Belarus, China, Russia, Saudi Arabia, Sudan, and  Venezuela are among the most autocratic in the world. 
India’s report:
i.India is one of the top ten ‘autocratisers’ in the world, which indicates that India is autocratic rather than a democracy that it can more suitably be indicated as electoral autocracy.

• India is in the bottom 40% to 50% of countries on V-Dem’s Liberal Democracy Index (LDI).
• In Democracy report 2020, the institute classified India as an electoral autocracy.

ii.It has slipped further down in the Electoral Democracy Index, to 100, and even lower in the Deliberative Component Index, at 102.
iii.In South Asia, India is ranked below Sri Lanka (88), Nepal (71), and Bhutan (65) and above Pakistan (117) in the LDI.
About V-Dem Institute:
Establishment – 2014
Headquarters – Gothenburg, Sweden
Director – Staffan I. Lindberg
>> Read Full News

India Ranks 2nd for Global Investment in Digital Shopping in 2021, US Tops: Bengaluru Tops Among CitiesAccording to the London & Partners (the Mayor of London’s international trade and investment agency) analysis of Dealroom.co investment data, India secured the 2nd largest global venture capital investment hub for digital shopping companies, growing up to 175 percent from USD 8 billion in 2020 to USD 22 billion in 2021.

• The analysis relating to investment into digital shopping companies is based on Dealroom.Co’s definition of online marketplaces, which supplied the Venture Capital investment data as of 15th February 2022.
• Within India, Bengaluru, Karnataka topped with USD 14 billion worth of Venture Capital (VC) investments in digital shopping in 2021

Ranking:

BANKING & FINANCE

NaBFID to be Regulated as All India Financial Institution under RBI Act

The Reserve Bank of India (RBI) announced that National Bank for Financing Infrastructure and Development (NaBFID) will be regulated and supervised as an All India Financial Institution (AIFI) by it under the Sections 45L and 45N of Reserve Bank of India (RBI) Act, 1934.

• It shall be the 5th AIFI after Export Import (EXIM) Bank, National Bank for Agriculture and Rural Development  (NABARD), National Housing Bank (NHB) and Small Industries Development Bank of India (SIDBI)

Background:
The National Bank for Financing Infrastructure and Development (NaBFID) Act, 2021, received the assent of the President on March 28, 2021 and came into force with effect from April 19, 2021.
About Reserve bank of India (RBI):
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
Deputy Governors – Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeshwar Rao, T. Rabi Sankar
>> Read Full News

BSE inks pact with BSS & JJA to Promote Commodity Derivatives, EGRs

The BSE (formerly Bombay Stock Exchange) has signed a Memorandum of Understanding (MoU) with the Bhartiya Swarnkar Sangh (BSS) and Jamshedpur Jewellers Association (JJA) for the strengthening of commodities derivatives trade and proposed Electronic Gold Receipt (EGR) markets in India.

• EGRs are issued on the basis of a deposit of physical gold. They are regarded as ‘securities’ under the Securities Contracts (Regulation) Act 1956.

Key Points:
i.This pact with BSE will help members of both entities to mitigate price risks of gold in both domestic and international zones. 

• This will further help members to procure gold of highest quality thus making the industry more competitive in the local markets.

ii.The troika of this MoU will educate the community  about the benefits of commodity and derivatives markets through  seminars and various other programs.
iii.They will also work together in order to design newer products on commodity contracts.
iv.This pact will also encourage commodity stakeholders to hedge on exchanges.

• Through gold hedging the interests of small jewellers and gold traders can be safeguarded as There will be no negative effect of fluctuations in the price of gold on the stakeholders.

v.These partnerships will focus on growing and developing value chain participants to face competition and manage price risk better.

BFSL Partners with CreditAI to Launch Unnati Co-Branded Credit Card for FarmersBank of Baroda(BoB) Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB) partnered with CreditAI Fintech Pvt Ltd (CAI), a Singapore and Bengaluru based farmer digitisation and credit scoring company to launch Unnati- contactless co-branded credit card on the Visa network platform exclusively for farmers.

• The Unnati Credit Card, which was 1st launched in Karnataka and later scaled across Maharashtra, Andhra Pradesh, Telangana, Tamil Nadu and other states in India.

About Unnati Credit Card:
i.CreditAI’s proprietary mobile app and inputs shop management system will ensure that the end use of credit is primarily for purchase of inputs at FPO owned input sales shops.
ii.The Card will empower Farmers to avail agricultural inputs at any-time on rotation basis during the cultivation cycle that will work in a ‘closed-loop system’ with an ‘end-use monitoring’ feature.

• Initially, a base credit limit will be provided and later improves once the farmer’s credit profile improves with more transactions and repayments.

About CreditAI Fintech Pvt Ltd (CAI):
Location – Bangalore, Karnataka & Singapore
Founder & CEO – Sangram Nayaka
About Bank of Baroda(BoB) Financial Solutions Limited (BFSL):
Establishment – 1994
MD & CEO – Shailendra Singh
Headquarter – Mumbai, Maharashtra

APPOINTMENTS & RESIGNATIONS    

Yoon Suk-yeol became the new president of South Korea

The leader of  People Power Party (conservative party), Yoon Suk-yeol  won the  presidential election 2022 of South Korea. He succeeded Moon Jae-in, previous President of South Korea.

• He is scheduled to assume office as president on May 10, 2022.

Highlights:
i.Yoon Suk-yeol is a South Korean politician, former public prosecutor and lawyer. He served as  Prosecutor General of South Korea in  2019- 2021 under the tenure of  President Moon Jae-in.
ii.As a member of the conservative People Power Party in South Korea, he defeated Democratic Party’s nominee Lee Jae-myung presidential election 2022. 
About  South Korea:
Capital- Seoul
Currency– South Korean won

D2H Signed Indian Cricketer Rishabh Pant as its Brand Ambassador

D2H, a Direct-to-Home (DTH) brand of Dish TV India Limited has signed Indian cricketer Rishabh Pant as its new brand ambassador. As the brand ambassador, he will feature in the 360-degree brand communication for the next 2 years. 

• Dish TV India Limited is a DTH company with brands like Dish TV, Zing and D2H under its ownership. 
• Shah Rukh Khan is the brand ambassador of the parent company Dish TV India Limited. 
• The company operates using multiple satellite platforms like SES-8, GSAT-15, and ST-2 and has a bandwidth capacity of 1134 MHz.  

ACQUISITIONS & MERGERS     

CCI Approves Acquisition of Prione Business Services by Amazon Asia-Pacific Resources Private Limited

The Competition Commission of India (CCI) approved the proposal of Amazon Asia-Pacific Resources Private Limited(AAPRPL), an indirect wholly-owned subsidiary of Amazon.com, Inc., to acquire Prione Business Services Private Limited (PBSPL or Prione), which runs Cloudtail, one of the largest online marketplaces in India.

• Target is: Prione Business Services Private Limited
• Acquirer is: Amazon Asia-Pacific Resources Private Limited
• The Proposed Combination comprises the acquisition of 76% of the equity shares of Prione by AAPRPL. 
• The AAPRPL is purchasing the shareholding of Hober Mallow Trust in Prione. 

Shareholdings of Prione:
i.Prior to this acquisition, 76% of the share capital of Prione is held by Hober Mallow Trust and Amazon Eurasia Holdings S.a.r.l. owns one per cent (1%) of the share capital of Prione. 
ii.Prior to the acquisition, AAPRPL already owns 23% of the share capital of Prione.  
Key Points:
i.Target has a wholly owned subsidiary Cloudtail India Private Limited (CT). CT is engaged in B2C retail business in India, and currently offers for sale products to customers on the online marketplace, www.amazon.in operated by Amazon Seller Services Private Limited (Amazon Marketplace). CT is also engaged in wholesale (B2B) trading of products through online and offline channels.
ii.Acquirer is an indirect wholly owned subsidiary of Amazon.com, Inc. (ACI). ACI is the ultimate parent entity of the Amazon group.
CCI approves 100% Acquisition of L&T AMC by HSBC AMC
CCI has approved the acquisition of 100% share capital of (Larsen & Toubro) L&T Investment Management Limited (L&T AMC) by HSBC Asset Management (India) Private Limited (HSBC AMC). 

• The proposed transaction relates to the acquisition of 100% share capital of L&T AMC by HSBC AMC from L&T Finance Holdings Limited. 
• The Proposed Transaction is in the nature of an acquisition of shares under Section 5(a)(i)(A) of the Competition Act, 2002. 

Features of the acquisition:
i.Following this acquisition, the sponsorship, trusteeship, management and administration of L&T MF schemes managed by L&T AMC will be changed, whereby the L&T MF schemes will be managed and operated by HSBC AMC. 
ii.The HSBC Trustee shall be appointed as the trustee of the L&T MF. 
iii.In accordance with the proposed transaction, the L&T MF will comprise part of
and be considered to form an integral part of the HSBC MF schemes. 

SPORTS

Priyanka Nutakki Becomes the 23rd Woman Grandmaster of India

Priyanka Nutakki, 19-year-old Chess prodigy hailing from Vijayawada, Andhra Pradesh, secured her final WGM-norm at the MPL 47th National Women Chess Championship 2022, held in Bhubaneshwar, Odisha.

• She scored 7.0/9, performed at 2348 to become the 23rd   Woman Grandmaster (WGM) of India and got placed third in the tournament.

About Priyanka Nutakki:
Before delivering an iconic performance in her final WGM-norm,
i. Priyanka won her first WGM-norm scoring 5.5/9, performed at 2412 in January 2019.
ii. She went on to win her biggest online tournament, SPF Girls’ Invitational in June 2020.
iii. Amidst COVID-19 pandemic, she worked hard to win her second WGM-norm scoring 5.5/10, performed at 2454 in the year 2021.
iv.She also clinched her first International Master(IM)-norm in her third over-the-board (playing face to face with another person and physical chess pieces rather than electronically) tournament of the year 2021.
Note:

• Divya Deshmukh – The 22nd Woman Grandmaster of India, emerged as the winner of MPL 47th National Women Chess Championship 2022.
• Sakshi Chitlange is the runner up of the championship.

About Woman Grandmaster (WGM) title:
i.WGM is an International Chess Federation (FIDE) title will be provided to women players. It is above Women International Masters (WIM), and Woman FIDE Master (WFM).
ii.It is awarded to players who achieve two or more title norms (covering 27 games).
iii. Required rating for WGM performance is ≥ 2400 performance against opponents with average rating ≥ 2180.

BOOKS & AUTHORS

“Soli Sorabjee: Life and Times” , a Biography of late Soli SorabjeeOn March 9 2022, In the Occasion of the 92nd birth anniversary of Soli Sorabjee, the Penguin Random House India (PRHI) has announced that a biography, titled “Soli Sorabjee: Life and Times” authored by advocate and legal scholar Abhinav Chandrachud will be released in April 2022.

About Soli Sorabjee: 
He was the former Attorney General (AG) of India and served two times for the years 1989-90 and then from 1998- 2004.

Key points:
i.The book highlights the  personal details of  life  of Soli Sorabjee, his family background.
ii.It also marks his journey in becoming a practitioner of law to a United Nations Human Rights  rapporteur and  defending the fundamental right to free speech and expression in the Supreme Court.
Popular Books of the author:

•  “Republic of Rhetoric: Free Speech and the Constitution of India” (2017)
•  “Supreme Whispers: Conversations with Judges of the Supreme Court of India 1980-1989” (2018).
• ‘’Republic of Religion: The Rise and Fall of Colonial Secularism in India’’ 2020

45th International Kolkata Book Fair: WB CM Mamata Banerjee’s 12 Books Published 

Twelve books penned by Mamata Banerjee, Chief Minister (CM) of West Bengal (WB), have been published during the 45th International Kolkata Book Fair(IKBF) at the Central Park Mela ground, Bidhannagar, at Salt Lake, Kolkata, West Bengal. 
The 45th IKBF was inaugurated by CM Mamata Banerjee on 28th February 2022, and the fair will run till 13th March 2022. 

• The 45th IKBF has Bangladesh as the theme country.
• Publishers & Booksellers Guild , Kolkata is the organizer of the event.
• This year’s event will be a celebration of the birth centenary of Bangabandhu Sheikh Mujibur Rahman and the golden jubilee of Bangladesh’s independence. Bangladesh Pavilion will be based on the iconic speech of Bangabandhu on March 7, 1971. 

Note: Kolkata is hosting its annual international book fair after a gap of one year due to the COVID-19 pandemic. 
About the Books: 
The 12 books authored by Mamata Banerjee includes, 

• ‘Khela Hobe’ – referring to TMC’s ‘game is on’ campaign of assembly elections of 2021.
• ‘Covider Dinlipi’– features the events during the COVID-19 pandemic. 
• ‘Duare Sarkar’ (government at doorstep)- written in English, features the story of the welfare projects launched by the Trinamool Congress and people’s response to those schemes. 
• ‘Bidhansabhay Mukhyamantri’ (chief minister in assembly)– this is a collection of Banerjee’s speeches in the House on issues such as demonetisation and the National Register of Citizens (NRC).
• ‘Loho Pranam Mohiyashi Charane Charane’ – This is a collection of poems as a tribute to the 50 great personalities of Bengal. 

• ‘Kalam’ and ‘Kabita Bitan’ – the collections of poems by the CM during her visits to various parts of West Bengal and outside the state. 
• She has also authored six Urdu Shayaries: Himmat, Roshni, Tamanna, KhusbuInsaf and Savera. 

Note: Mamata Banerjee has penned 114 books in the last two decades. 

Amitava Kumar Authored New Book Titled “The Blue Book: A Writer’s Journal”

Indian poet and writer Amitava Kumar authored a new book titled “The Blue Book: A Writer’s Journal”, a memory book with hybrid literary and artistic parentage. This painted diary is a collage of the personal and the political, of terrifying news, the fleeting seasons, everyday pleasures, precious conversations, families and friendships and the solace of art.

• The book is published by HarperCollins India is the artistic response of the author to the present world. 
• He has authored several books of non-fiction and 3 novels, which includes A Foreigner Carrying in the Crook of His Arm a Tiny Bomb; A Matter of Rats; A Time Outside This Time: A Novel. 

IMPORTANT DAYS

World Kidney Day 2022 – March 10 World Kidney Day(WKD) is annually observed across the globe on the 2nd Thursday of March to create awareness about several kidney diseases and to educate about the significance of kidneys in our overall health. 
The day also aims to advance kidney health education and focuses on preventive interventions to prevent the onset and progression of kidney diseases.
World Kidney Day 2022 falls on 10th March 2022. 

• World Kidney Day 2021 was observed on 11th March 2021.
• World Kidney Day 2023 will be observed on 9th March 2023. 

The theme of World Kidney Day 2022 is “Kidney Health for All: Bridge the Knowledge Gap to Better Kidney Care.” 
>> Read Full News

UN’s First-ever Annual International Day of Women Judges – 10th March 2022

The United Nations(UN) celebrates the first-ever annual observance of the International Day of Women Judges on 10th March 2022. 
Starting from 2022 the 10th March will be annually celebrated across the globe as International Day of Women Judges to promote the full and equal participation of women at all levels of the judiciary.

• The day also celebrates the progress that has been made and raises awareness about the challenges ahead. 

Observance in India:
The Supreme Court of India commemorated the first-ever International Day of Women Judges with special programmes organised by the Supreme Court Registry.
All the women judges of the constitutional courts and all the women judicial officers from across India were invited to participate in the programme. 
>> Read Full News

STATE NEWS

Finance Minister Of Madhya Pradesh Presented The Budget of Rs 2.79 Lakh crore For FY 2022-23Finance Minister of Madhya Pradesh, Jagdish Devda presented the budget of Rs 2,79,237 crore for the financial year (FY) 2022-23. The budget focused on child welfare, education, infrastructure and health sectors.
i.With the budget, the state aimed at building an ‘Atma Nirbhar (self-reliant) Madhya Pradesh‘.
Flagship Schemes Of The Budget 2022-23:
i.For the first time, the state government presented a ‘child budget‘ as part of the annual financial plan.
ii.The Ladli Laxmi Scheme is expanded to cover higher education.
Other Schemes Of The Budget Of FY 2022-23:
i.31 lakh beneficiaries to get the benefits of Pradhan Mantri Awas Yojana, ‘providing affordable houses to the urban poor’.  
ii.Constructing 1,200-km-long roads under the Prime Minister Rural Road Scheme.
About Madhya Pradesh:
Governor – Mangubhai Patel
Festival – Ujjain Kumbh Mela, Malwa Utsav
Dance Form – Jawar, Tertali
>> Read Full News

Tripura Govt. Announces Mukhyamantri Chaa Srami Kalyan Prakalpa for Tea Workers

As a step towards bringing the 7000 tea garden workers of Tripura under social security net, the Tripura Government has announced a special scheme ‘Mukhyamantri Chaa Srami Kalyan Prakalpa’, allotting Rs. 85 crores for its implementation.

• About 75% of the 7000 tea garden workers are women and they produce nearly 90 lakh kilograms of tea through 54 tea estates & 21 tea processing factories across the state. The tea production is mainly distributed in North Tripura, Sepahijala, Unakoti and West Tripura districts.
• This special scheme would ensure housing, rations and financial support to the tea garden workers by integrating the facilities that are entitled to them, by the state government and the central government.

Key Components of the Scheme:
i.Provides land or home to the farmers; allot land of defunct tea garden on lease basis through Cooperatives
ii.Provides basic amenities like drinking water, electricity, shelter, education and healthcare to each and every family.
iii. Provide priority group ration cards; social pension to eligible families; maternal and child health care assistance & health insurance.
iv.Provide an eco-friendly environment.
v.Provide supportive appliances for handicapped persons.
vi.To be brought under Pradhan Mantri Awas Yojana (PMAY).
Note: The Union Home and Cooperation Minister, Amit Shah had recently inaugurated the year 2022 Women Empowerment Campaign and Chief Minister Shramik Kalyan Prakalp scheme for the women Tripura on the occasion of International Women’s Day & has also laid the foundation stone for National Forensic Sciences University in Agartala, capital of Tripura.
About Tripura:
Chief Minister – Biplab Kumar Deb
Governor – Satyadeo Narain Arya
Tourism tagline – Tripura: Where Culture Meets Nature

U.T. of Puducherry gets first-of-its kind Digital School Health Platform

Lieutenant Governor of Puducherry Dr. Tamilisai Soundararajan has launched a Digital School Health Platform for the students of the Union Territory (UT) of Puducherry.

• This platform is a joint collaboration of the Department of Health, Puducherry and Axis Bank.

Key Points:
i.The UT has started its digitization of the health records of students starting from Classes I to XII, counting to 2. 4 lakh children.
ii.Under this project, the Health Department will feed the personal details of all government school students into a portal to maintain their health records.
iii. The health care workers will upload the health details of the students into the password-driven portal after visiting schools for medical screening. The health details could be accessed by doctors, teachers and parents of students.
Note: An MoU was also signed between the Indira Gandhi Government General Hospital and Post Graduate Institute, Puducherry & Zaara Tech, Chennai, to digitize the medical records available with the hospital.
About Union Territory of Puducherry:
Lieutenant Governor – Dr. Tamilisai Soundararajan, Governor of Telangana; Lieutenant Governor of Puducherry.
Chief Minister – N. Rangasamy
Tourism Tagline – ‘Give time a break’

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