Current Affairs 13 & 14 March 2022

We are here for you to provide the important Recent and Latest Current Affairs  13 & 14 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 

Home Minister Amit Shah Addressed 37th Foundation day Celebration of NCRB
On 11th March 2022, Amit Shah, Union Minister of Home Affairs addressed the 37th Foundation Day(Raising Day) celebrations of the National Crime Records Bureau (NCRB) as the chief guest in New Delhi, Delhi. He is the first Union Home Minister to attend a Foundation Day function of the NCRB.

• He also inaugurated the 3rd Crime and Criminal Tracking & Network System (CCTNS) Hackathon & Cyber Challenge 2022 during the event. 
• In 2020 the 35th Foundation day was observed on 12th March 2020.
• In 2021 the 36th Foundation day was observed on 11th March 2021.

About National Crime Records Bureau (NCRB):
Director– Vivek Gogia
Headquarters– New Delhi, Delhi.
>> Read Full News

GoI Introduced 18 Platforms Led By Industry For Design And Development In Defence Sector

The Government of India (GoI) has introduced 18 major platforms led by industry for design and development in the defence sector. The project focuses on  ‘Atma Nirbhar Bharat Abhiyan’.
i.GoI has allocated 25 per cent of the union budget 2022-23 for Defence Research and Development (R&D).
Aim:
i.The project aims to display the designing  capabilities of the domestic defence industry.
Categories and Platforms:
Make-I category – 14 platforms
Special Purpose Vehicle (SPV) Model category- 2 platforms
Innovations for Defence Excellence (iDEX)- 1 platform
Make-II category- 1 platform
Note:
4 Out of 18 major platforms has been grant, Approval-In-Principle (AIP) under the Make-I category are as follows:

• Communication system (AFNET system switches, routers, encryptors and VOIP phones).
• EO pod (with subsequent upgrade to EO/IR) with high-resolution sensing.
• Standoff airborne jammer.
• Light weight tanks.

About Ministry of Defence:
Union Minister – Raj Nath Singh (Constituency – Lucknow, Uttar Pradesh)
Minister of State – Ajay Bhatt (Constituency -Nainital-Udhamsingh Nagar, Uttarakhand)
>> Read Full News

Mission Indradhanush: Odisha tops in full immunization with 90.5% coverage

According to the National Family Health Survey (NFHS)-5, Odisha became top state in the list of full immunisation in India with 90.5 per cent coverage under Mission Indradhanush. 
Highlights:
i.Intensified Mission Indradhanush 4.0 (IMI) was rolled out on 7 March 2022,  in Odisha to provide preventive health care for mothers and children and  for boosting full immunization coverage.
ii.20 districts of Odisha  were found above 90 percent in full immunization and  remaining 10 districts were less than 90 percent.

• Districts such as Ganjam, Cuttack, Kendrapara, Jharsuguda, Koraput, Keonjhar, Malkangiri, Khurda, Sambalpur, Mayurbhanj, and Sundargarh districts were selected for inclusion under IMI.

iii.The diseases included in full immunization are tuberculosis, polio, diphtheria, jaundice, tetanus, whooping cough, brain fever, HIV, measles, pneumonia, diarrhoea, rubella, Japanese fever, and others.
>> Read Full News

INTERNATIONAL AFFAIRS 

Investment in care services can generate 234 million jobs for women by 2035: ILOThe International Labour Organization (ILO) report “Care at Work: Investing in Care Leave and Services for a More Gender Equal World of Work” was released on March 7, 2022, ahead of International Women’s Day, and was based on an ILO legal survey of 185 countries. The report highlights eight key messages. 

• This report stipulates a global overview of national laws and practices regarding care policies, such as maternity protection, paternity, parental and other care-related leave policies, in addition to childcare and long-term care services.
• It exposed that persistent and significant gaps in care services and policies have left hundreds of millions of workers with family responsibilities without adequate protection and support.

Key Points:
i.By investing in universal childcare and long-term care services, about 299 million jobs can be generated by 2035. Women will receive 234 million (78%) of these funds.
ii.An annual investment of $5.4 trillion will be required for this job creation potential by 2035.
iii. Employment rates for women will be high in Europe, lower-middle and low-income countries in Asia and Arab states, far more than for men.
iv.Employment rates of women will rise by 10 % points overall, ranging from 9% points in Europe and lower-middle and low-income countries in Asia to 12% points in the Arab states, far more than for men.
v.Around the world, only 89 out of 179 countries have a statutory provision of public long-term care services for older persons.
vi.The report concluded with a call for action to invest in a transformative package of care policies that is central to the broader international agenda on investing in the care economy – a breakthrough pathway for building a better and more gender equal world of work.
Maternity Leave 

• About 649 million women of reproductive age from 82 countries did not meet the ILO convention mandate of 14 weeks of minimum maternity leave.
• The relative no. of potential mothers living in countries with maternity leave durations below 14 weeks is 51.9% in Africa (23 countries), 55.8% in the Americas (18 countries) and 17.5% in Asia and the Pacific (15 countries). In Europe and Central Asia, all potential mothers live in countries providing at least 14 weeks of maternity leave.
• Globally, 123 countries offer fully paid maternity leave, with 9/10 potential mothers living in these countries.
  The report alarmed that it will take at least 46 years to achieve minimum maternity leave rights in the 185 countries analyzed for the study.

About International Labour Organization (ILO):
ILO is the only tripartite United Nations agency that brings together governments, employers, and workers from 187 member countries. It was founded at the Paris Peace Conference under the Treaty of Versailles.
India is a founder member of the International Labour Organization.
Objective –  To set labour standards, develop policies and devise programmes promoting decent work for all women and men.
Establishment – Since 1919.
Headquarters – Geneva, Switzerland.

BANKING & FINANCE

LivQuik becomes 1st PPI issuer to Achieve RBI’s PPI Interoperability Guidelines 

LivQuik becomes the first Prepaid Payment Instrument (PPI) issuer to have achieved full interoperability as mandated by the Reserve Bank of India (RBI) for their PPIs.

• RBI, in exercise of the powers conferred under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007 (PSS Act) mandated all PPI Issuers to facilitate interoperability for full-KYC (Know Your Customers) wallets by March 31, 2022.

Key Points:
i.The  interoperability provides choice to customers for optimizing their payments and spending across wallets by attaching a card on Visa and RuPay networks and can also enable UPI (Unified Payments Interface).
ii.PPIs are instruments that facilitate purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored therein. These are of two types- Small PPIs, and Full-KYC PPIs
iii.LivQuik has partnered with Chennai (Tamil Nadu) headquartered M2P Fintech to enable UPI on PPI.
About LivQuik:
Founded in 2012, LivQuik is a RBI authorised Prepaid Payment Instrument Issuer and Full-Fledged Money Changer (FFMC). 
Co-Founder & CEO– Mohit Lalvani (Other Co-Founder- Yudhajit Nag Sen)
Headquarters– Mumbai, Maharashtra

RBI bars Paytm Payments Bank from Onboarding New Customers

On March 11, 2022, the Reserve Bank of India (RBI) in exercise of its powers under section 35A of the Banking Regulation (BR) Act, 1949 bars Paytm Payments Bank Limited (PPBL) from onboarding new customers with immediate effect due to material supervisory concerns.

• PPBL was also directed by the apex bank to appoint an IT audit firm to conduct a comprehensive audit of its IT (Information Technology) system.

Key Points:
i.PPBL will be allowed to make new customers subject to specific permission from the RBI after reviewing the IT auditor’s report.
ii.In 2021, PPBL received RBI’s approval to function as a scheduled payments bank.
About Paytm Payments Bank Limited (PPBL):
Establishment- 2017
Chairman- Vijay Shekhar Sharma
Headquarters- Noida, Uttar Pradesh (UP)

EPFO Sets Its Interest Rates on PF for 2021-22 At The Lowest LevelThe Employees’ Provident Fund Organization (EPFO) has set the interest rate on Provident Fund Deposits for 2021-22 at 8.1%, up from 8.5% in the previous fiscal year 2020-21.
This decision was taken by the Central Board of Trustees (CBT), the apex decision-making body of the EPFO, and will be sent to the Ministry of Finance for consensus.
The EPFO provides the rate of interest only after it has been ratified by the government through the Finance Ministry.

• The EPF interest rate stood at 8 per cent in 1977-78, and this 8.1% is the lowest it has been in more than four decades. This interest rate was set by the retirement fund body for its approximately 50 million subscribers for the current fiscal year ending March 31.
• The possible reason behind this decision is the low earnings of EPFO due to the COVID-19 pandemic. It delayed its payments for 2019–20 and paid the interest in two instalments, deriving from two sources of its investments—8.15% from debt investments and 0.35% from the equity portfolio.

Note:

• In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.
• The EPF rate for 2017–18 was 8.55%.
• Provident fund savings are mandatory under the Employees Provident Funds and Miscellaneous Provisions Act, 1952.
• Central Board of Trustees (CBT) is a tripartite body involving government, workers and employers’ representatives and its decision is binding on EPFO.

About Employees’ Provident Fund Organization (EPFO):
It is India’s largest social security organization, mainly encouraging people to save for retirement, among others. EPFO comes under the purview of the Ministry of Labour and Employment.

• The Central Provident Fund Commissioner (CPFC) is the Chief Executive Officer of EPFO and is the ex-officio Member Secretary of the Central Board.

CEO of EPFO – Ms. Neelam Shami Rao
Establishment – 1951
Head Office – New Delhi

IIFL Securities launches India’s 1st Primary Markets Investment Platform, OneUp 

On March 11, 2022, the IIFL Securities Limited (Formerly India Infoline Limited) launched India’s first primary markets investment platform, ‘OneUp’ for investing in initial public offerings (IPOs), non-convertible debentures (NCDs) and sovereign gold bonds (SGBs), among others.

• It enables buyers to analyse, transact and handle new investment alternatives, all on one single platform.
• The benefits of the platforms can be utilized by IIFL Securities and non-IIFL Securities clients with none signup necessities.

What is in the platform?
i.The IPO functions are accepted 24×7 and as much as three days earlier than the IPO bidding opens.
ii.It permits buyers to position bids for others like associates or members of the family, enhance possibilities of allotment.
iii.The online orders are not limited to Rs 2 lakh only. 
iv.Real-time online IPO bidding for an amount greater than Rs 2 lakh can be executed. v.Users can view live subscription of IPO, application status and payment status of bidding.
IIFCL raises Rs 1500 cr via debt to fund infra projects 
India Infrastructure Finance Company Ltd (IIFCL) has raised Rs 1,500 crore in debt to promote long term infrastructure finance in India. It raised the funds through private placement of Non-Convertible Debt Securities for Rs 500 crore and it has a greenshoe option of Rs 1,000 crore. The issue was oversubscribed 6 times (i.e. IIFCL raises Rs 6,000 crore via debt to fund infra projects).

• The 10-year bond has a coupon of 7.17 per cent.
• The funds from the same will be utilized to provide long term debt to infrastructure projects, both greenfield and brownfield, developed under various initiatives of the government viz., National Infrastructure Pipeline (NIP), National Monetisation Pipeline (NMP) and Gati Shakti.

Odisha govt. & Nabard signed a pact to increase fish production
The government of Odisha and the National Bank for Agriculture and Rural Development (NABARD) signed an agreement for the creation of fisheries infrastructure to boost fish production.
Signatories: 
The agreement was signed between Principal Secretary, Finance, Vishal Dev and NABARD chief general manager C Udayabhaskar.
Key points:
i.The Fisheries and Aquaculture Infrastructure Development Fund (FIDF) will help in creation of infrastructure facilities in marine and inland sectors of Odisha.

• For the development in the sector around Rs 119.8 crore initially approved.

ii.The FIDF has the  targets to  achieve a sustainable growth of 8-9 % to boost the  fish production capacity of India  to around 20 million tonnes by 2022-23. 
About National Bank for Agriculture and Rural Development (NABARD): 
NABARD was established on the recommendations of the B.Sivaraman Committee (by Act 61, 1981 of Parliament) to implement the NABARD Act 1981. Establishment – 12 July 1982 
Headquarters – Mumbai, Maharashtra 
Chairman – Govinda Rajulu Chintala

AWARDS AND RECOGNITION 

RailTel Ranks 124 in 2022 Fortune India The Next 500 list

RailTel Corporation of India Limited(RailTel), owned by the Indian Railways, Ministry of Railways, has ranked 124th in the 8th Edition Fortune India The Next 500 (2022 edition) of top midsize companies operating in India. It is the only Telecom Public Sector Undertakings (PSU) of the Government of India(GoI) on the list. 

• This Fortune India The Next 500 is published annually by Fortune India English Monthly magazine.

About RailTel Corporation of India Limited(RailTel):
RailTel, a “Mini Ratna (Category-I)” Central Public Sector Enterprise under Ministry
of Railways. 
It is one of the largest neutral telecom infrastructure providers in India which owns a Pan-India optic fiber network
CMD– Puneet Chawla
Headquarters– New Delhi, Delhi.
> Read Full News

MoPNG Swachhta Pakhwada Awards Presented & Indian Petroleum & Natural Gas Statistics 2020-21 Published

Union Minister Hardeep Singh Puri, Ministry of Petroleum and Natural Gas (MoPNG) presented the MoPNG Swachhta Pakhwada Awards to the winners and launched ‘Indian Petroleum & Natural Gas Statistics 2020-21’.
The Indian Petroleum & Natural Gas Statistics is an annual publication of the Ministry, which is a repository of data that gives an overall picture of India’s Oil & Gas sector including exploration, production, refining, transportation and marketing, imports and exports of crude oil & petroleum products.

• The Swachhta Pakhwada was organized by Oil & Gas Central Public Sector Enterprises (CPSEs), and attached offices of MoPNG during 1st-15th July, 2021.
• “Swachhta Pakhwada Awards” have been initiated for outstanding performance in the celebration. Based on their performance, IOCL was ranked first, ONGC second and HPCL placed third.
• About 40 plastic waste collection centres were set up and more than 4000 online internal & external competitions were organized during the event.

About Swachhta Pakhwada:
An initiative of the Government of India as a part of Swachh Bharat Mission.
Establishment – April 2016.
Objective –  To bring a fortnight of intense focus on the issues and practices of Swachhta (cleanliness) by engaging GOI Ministries/Departments in their jurisdictions.

• An annual calendar is pre-circulated among the Ministries to help them plan for the Pakhwada activities.
• The Ministries observing the Pakhwada fortnight are considered as Swachhta Ministries and are expected to bring qualitative Swachhta improvements in their jurisdictions.

About Ministry of Petroleum and Natural Gas (MoPNG):
Minister of MoPNG – Hardeep Singh Puri (Rajya Sabha MP, Uttar Pradesh Constituency)
Minister of State (MoPNG) –  Rameswar Teli (Dibrugarh Constituency, Assam)

APPOINTMENTS AND RESIGNATIONS

Ex-judge A K  Sikri became chairperson of High Powered Committee on Chardham project

Justice AK Sikri, former judge of the Supreme Court (SC)  was appointed as the Chairman of the high-powered committee which constituted to consider the cumulative and independent impact of the Char Dham Mahamarg Vikas Pariyojana (Char Dham Highway Development Project). He succeeded Professor Ravi Chopra who resigned recently from this post.

Key points: 
i.The committee will evaluate the impact of various highway development projects of Char Dham on the entire Himalayan valley region.
ii.Prior to this appointment,  Justice Sikri served as the  head of the  “Oversight Committee” to oversee the implementation of the Char Dham project.
iii.The project included construction of 900 km roads to provide all weather connectivity to four holy towns located in Uttarakhand-Yamunotri, Gangotri, Kedarnath and Badrinath.

• In 2021, the SC allowed widening of the three highways — Rishikesh to Mana, Rishikesh to Gangotri, and Tanakpur to Pithoragarh  in the Double Line-Paved Shoulder (DL-PS) format with a width of 10 metre under the  ongoing project. 

Various committees & reports for environment protection: 

• TSR Subramanian – to review the environment related laws and regulations
• Gadgil Report and Kasturirangan Report -to suggest  the measures for the protection of  Western Ghats.

Debasish Panda became new Chairman of  IRDAI 

The government  appointed Debasish Panda as the Chairman of  Insurance Regulatory Development Authority of India(IRDAI). He will serve for the tenure for three years (2022-2025).

• Debasish Panda will succeed  Subhash Chandra Khuntia, who completed his term in May 2021.
• The applicant shall not be beyond 65 years of age for this post.

i.The appointment was approved by the Appointments Committee of the Cabinet (ACC).
ii.Debasish Panda iAS officer of 1987-batch of the Uttar Pradesh cadre. He served as the Department of Financial Services (DFS) secretary under the Ministry of Finance, retired  in January 2022. 
About  Insurance Regulatory Development Authority of India(IRDAI):
It is a statutory organization established by the Insurance Regulatory and Development Authority Act, 1999.
Founded-1999
Headquarters– Hyderabad

ACQUISITION  AND  MERGERS 

ICICI Bank to Acquire 5% Stake in NARCL

ICICI Bank is set to acquire a 5% stake in National Asset Reconstruction Company Limited(NARCL) for a total cash consideration of up to Rs 137.5 crore in tranches. The equity investment will be in tranches with the 1st tranche of equity investment of Rs 70.45 crore. This is expected to be completed by 31st March 2022. 

• On 10th March 2022, ICICI Bank has signed an agreement for the investment in NARCL. 
• NARCL or bad bank is an asset reconstruction company, which was incorporated on July 7, 2021.

About NARCL:
NARCL has received all approvals to commence operations. Public sector banks (PSBs) will maintain about 51% ownership in NARCL.
A total of 38 Non-Performing Asset (NPA) accounts worth Rs 82,845 crore have been identified to be transferred to it initially.
The transfer of 38 stressed accounts will happen in a phased manner, with banks agreeing to transfer 15 NPA accounts worth Rs 50,000 crore in the first phase by March 2022.

• India Debt Resolution Company Ltd. (IDRCL) will manage the stressed assets and engage market professionals and turnaround experts have also received all the requisite regulatory approvals.

Additional info:
During the Budget 2021-22, Finance Minister Nirmala Sitharaman stated that the government intends to set up a bad bank as part of the resolution of bad loans worth about Rs 2 lakh crore in the banking system.
IDBI Bank became stakeholders in NARCL:
On 11th March 2022, IDBI Bank became one of the stakeholders in NARCL by executing an investment agreement to participate in the equity share capital and NCDs (non-convertible debentures) proposed to be issued by NARCL. 

• It will invest over Rs 272 crore to acquire equity stake and subscribe to its bonds.
• The bank will invest cash of Rs 137.50 crore to acquire 5% equity stake and Rs 135 crore to invest in the NCDs of NARCL.
• It will also invest Rs 4.50 crore in tranches to acquire 9% equity capital of IDRCL.

About ICICI Bank:
MD & CEO– Sandeep Bakhshi,
Headquarters– Mumbai, Maharashtra
Tagline– Khayaal Aapka

SCIENCE & TECHNOLOGY 

ESA Introduced a New One-of-a-Kind Mission: ESA Vigil, Earth’s Solar Defender 

On 10th February 2022, The European Space Agency (ESA) introduced its new one-of-a-kind mission named “Vigil”, which is meant to protect the Earth from its nearest star (sun). ‘Vigil’ is derived from the Latin word ‘vigilia’ meaning wakefulness, while ‘vigilis exceptus’ means sentry, or guard.

• The mission was previously named “Lagrange” after the location the mission spacecraft will be sent but later the name has been changed to ‘Vigil’.
• The Vigil spacecraft will be launched to the fifth Lagrange(L5) point which is 150 million kilometres from both Earth and the sun.

Lagrange Points:
i.Lagrange points are the locations in outer space that are gravitationally stable as compared to other locations.
ii.The L5 is the fifth Lagrange point which is located at an equal distance from both the Sun and Earth. 
Note: The James Webb Space Telescope and the Gaia spacecraft, launched by ESA are located at the second Lagrange point (L2). 
Functions of ESA Vigil:
i.The spacecraft at L5 would stream a constant feed of near-real-time data on hazardous solar activity, before rolling into Earth’s view.
ii.The ESA Vigil positioned in an unvisited position in space will  help to warn earth about the oncoming solar storms which can damage power grids, disrupt telecommunications and threaten satellites and the vital services they provide. 
iii.This will provide more time to  protect spacecraft in orbit, infrastructure on the ground and explorers now and in the future, unshielded by Earth’s magnetic field and vulnerable to our star’s violent outbursts.
iv.As part of ESA’s Vision for the future, the new Protect ‘accelerator’ will ensure the resilience of technologies on which modernity depends.
ESA Vigil Mission Patch:
i.The design of the patch features a stylised wing of protection which shelters Earth from the sun’s hazardous radiation. 
ii.The L5 point is emphasised with the five stars shown just above the blue Earth.

IMPORTANT DAYS 

World Glaucoma Day – 12 March 2022 & World Glaucoma Week – 6-12 March 2022

World Glaucoma Day is annually observed across the globe on 12th March to create awareness about Glaucoma, the one of the most common cause of irreversible blindness. 
World Glaucoma Week(WGW), a global initiative of the World Glaucoma Association (WGA) and World Glaucoma Patient Association is also annually observed to create awareness about Glaucoma.
The week highlights glaucoma as the leading cause of preventable irreversible blindness worldwide.

• WGW 2022 is celebrated from 6th to 12th March 2022. 

Theme:
Every year, the World Glaucoma Week adopts a common theme, which is adapted to local conditions, and yet unifies its efforts. 

• The theme of WGW 2022 is “The world is bright, save your sight”.

Aim of Glaucoma Day and Week:
To help eliminate blindness caused by Glaucoma, by raising awareness and alerting the need of having regular eye check-ups in which the optic nerve is examined.
Glaucoma:
i.Glaucoma is a group of eye conditions that damage the optic nerve. 
ii.It is a chronic, progressive, degenerative disorder of the optic nerve that produces characteristic visual field damage.
iii.It can occur at any age, but it is most common in older adults.
Key Points:
i.It is estimated that around 80 million people have glaucoma worldwide. Approximately 50% of individuals with glaucoma are unaware that they have the disease.
ii.The World Health Organisation (WHO) has estimated that 4.5 million people are blind due to glaucoma. 
iii.In India (2019), glaucoma is the leading cause of irreversible blindness, with at least 12 million people affected and nearly 1.2 million people blind from the disease.

STATE NEWS

AP’s FM Buggana Rajendranath Presented Rs 2.56 lakh cr State Budget for 2022-23i.On March 11, 2022, the Finance Minister (FM) of Andhra Pradesh (AP), Buggana Rajendranath, presented AP’s Budget for 2022-23 with a proposed expenditure of Rs 2.56 lakh crore and a projected revenue deficit of Rs 17,036 crore.
ii.After that, Kurasala Kannababu, AP’s Agriculture Minister presented the State’s Agriculture Budget for 2022-23 with an outlay of Rs 43,052.78 crore.
iii.The projected revenue deficit is Rs 17,036 crore i.e. 1.27% of GSDP (Gross State Domestic Product).
iv.The government has proposed creation of Rs 350 crore Special Development Package Fund, placing Rs 2 crore at the disposal of each MLA.
About Andhra Pradesh (AP):
Chief Minister (CM)– Yeduguri Sandinti Jagan Mohan Reddy
Tiger Reserve– Nagarjuna Sagar Srisailam Tiger Reserve 
Zoological Parks– Sri Venkateswara Zoological Park, Indira Gandhi Zoological Park
>> Read Full News

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