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PM Modi Inaugurated MSME Technology Centre & Perunthalaivar Kamarajar Manimandapam in Puducherry
On the occasion of the National Youth Day 2022, the birth anniversary of Swami Vivekananda, Prime Minister (PM) Narendra Modi virtually inaugurated an ‘MSME Technology Centre’, which will function under the Union Ministry of Micro, Small and Medium Enterprises (MSME), in Puducherry.
The centre was inaugurated during the inauguration event of the 25th National youth Festival (12th & 13th January 2022) in Puducherry.
- He also inaugurated the ‘Perunthalaivar Kamarajar Manimandapam’, a modern auditorium with an open-air theatre in Puducherry.
About the Centre:
i.The technology centre was built at a cost of ~Rs 122 crore with a focus on the Electronic System Design and Manufacturing (ESDM) Sector.
ii.This will contribute to train around 6400 trainees per year.
About Perunthalaivar Kamarajar Manimandapam:
i.The auditorium, which can accommodate more than 1000 people, was constructed at a cost of ~Rs 23.15 crore funded under Housing and Urban Development Corporation Ltd (HUDCO) loan assistance.
ii.The auditorium with an open-air theatre, constructed by the Government of Puducherry.
iii.It will be primarily used for educational purposes.
Dr Jitendra Singh Launches AI Driven Start-Up for Water Purification;MoU Signed Between TDB & Swajal Water Private Limited
On 11st January 2022 Minister of State (Independent Charge) Science & Technology (S&T), Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space Dr Jitendra Singh launched Artificial Intelligence (AI) driven Start-Up by Indian Institute Technology (IIT) alumni for water purification through innovative technology with financial support from Technology Development Board (TDB)
- A Memorandum of Understanding (MoU) was also signed between TDB, a statutory body of the Department of S&T and Swajal Water Private Limited.
Aim – To provide clean drinking water at a lower price than the market price.
About the AI Project:
i.This project will empower communities to plan & monitor drinking water needs with community ownership with affordable, accessible, reliable, and clean drinking water 24×7 throughout the year (365 days).
ii.The company’s patented system, ‘Clairvoyant’ uses artificial intelligence to optimise purification systems and predict future breakdowns.
iii.They have also developed clean drinking water solutions in the form of Water Automated Teller Machines (ATMs), which use solar energy combined with internet of Things (IoT) to pump water from rivers, wells, ponds or groundwater depending upon the location
- The pumped water is then treated with appropriate technology to make the water healthy and pure for drinking.
- The cost of purified water can be brought down to as low as 25 paise per litre.
iv.This helps in achieving India’s target of providing clean drinking water to all by 2024.
Note – The Center has launched National Rural Drinking Water Programme (NRDWP), Jal Jeevan Mission and state-of-the-art Heli-borne survey technology for groundwater management for providing clean drinking water for households.
About Swajal Water Private Limited:
CEO and Co-founder – Vibha Tripathi
Headquarters – Gurugram, Haryana
Indian Railways renames ‘Kevadiya Station’ as ‘Ekta Nagar Railway Station’
The Ministry of Railways approved the renaming of the Kevadiya railway station under the Vadodara division of Narmada district (Gujarat) as the Ekta Nagar railway station.
- The new station code of Ekta Nagar railway station will use the station code EKNR and the numerical code of the station will be 08224620.
i.The railway station is the key to reach the World’s tallest ‘Statue of Unity’ (height 182 m) that is located in Kevadiya, Gujarat.
- In 2018, it was inaugurated on 31st October to mark the 143rd birth anniversary of Sardar Vallabhbhai Patel.
ii.The Vadodara Division of Western Railways under public-private partnership (PPP) initiative awarded first of its kind contract for the development of an Art Gallery with a Souvenir shop at Gujarat’s Kevadiya Railway station.
- The Art Gallery will also help in promotion of tribal art and culture.
About Ministry of Railways:
Union Minister- Ashwini Vaishnaw (Rajya Sabha Odisha)
Minister of State- Danve Raosaheb Dadarao (Jalna, Maharashtra), Darshana Vikram Jardosh (Surat, Gujarat)
India’s Passport Ranked 84th on Henley’s Passport Index Q1-2022; Japan & Singapore Tops
As per the ‘Henley Passport Index: Q1 2022 Global Ranking’, released by Henley & Partners, India has been ranked as 84th Most Powerful Passport (with the visa-free score – 60). India’s ranking has improved by 7 places from 90th in Q4 2021.
- The index has been topped by Japan and Singapore as they allow visa-free travel to 192 countries to their passport holders. Notably, this is the 4th consecutive year that Japan has been in the top spot.
- India ranked 84 as it allows its passport holders to travel to 60 countries without the need of a prior visa.
Henley Passport Index: Q1 2022 Global Ranking:
|84||India; Mauritania & Tajikistan||60|
|Top 3||1||Japan; Singapore||192|
|2||Germany; South Korea||190|
|3||Finland; Italy; Luxembourg; Spain||189|
About Henley & Partners:
Chief Executive Officer (CEO)– Juerg Steffen
Headquarters– London, United Kingdom
>> Read Full News
BANKING & FINANCE
UCO Bank Launched RuPay Select Contactless Debit Card in partnership with NPCI
UCO Bank (formerly United Commercial Bank Ltd) in partnership with the National Payments Corporation of India (NPCI) launched the ‘UCO Bank RuPay Select Contactless Debit Card’ with a host of benefits for its premium/HNI (High Networth Individuals) customers.
- This launch was made on the occasion of the 79th Inauguration Day of the bank i.e. January 6, 2022.
Key Facilities offered through Card:
i.The card offers an ATM (Automated Teller Machine) withdrawal limit of Rs 50000 along with a purchase of up to Rs 2 lakh at POS (Point of Sale) or E-Commerce.
ii.All RuPay Select Contactless Debit cardholders are eligible for the Insurance cover of up to Rs 10 lakhs (Death due to personal accident and permanent disability).
iii.Two free domestic lounge access per quarter. Also, free access across more than 25 airports lounges in 15 cities
iv.Two free international lounge access per annum. Access to more than 500 lounges in 300+ cities.
v.15 Days free gym membership and 40-50% discounted price on the extension of the membership
vi.1 Complimentary premium health check-up package in a year, and 1 Complimentary Golf coaching lesson/session in a year.
About UCO Bank:
MD & CEO– Soma Sankara Prasad
Headquarters– Kolkata, West Bengal
Federal Bank Launches Instant Loan Approval Portal for MSMEs
On 11th January 2022 Federal Bank, a private sector lender, launched an online lending platform federalinstaloans.com, to ease credit approvals of up to Rs 50 lakh for Micro, Small & Medium Enterprises (MSMEs) across India.
- The platform enables borrowers to avail loans in less than 30 minutes digitally by simply uploading their income tax (I-T) returns, bank account statement and online verification of Goods and Services Tax (GST) details.
i.The platform uses algorithms to read and analyse data points from various sources such as I-T returns, GST data, bank statements and Credit Bureau.
ii.Based on the borrowers’ data and loan requirements, suitable products will be identified and the Loan will be made available after completing the documentation process by visiting the bank branch.
iii.Data entry by the client is kept minimal and the MSME borrowers are provided with the liberty to choose their Federal Bank branch while applying.
About Federal Bank Limited:
CEO & MD – Shyam Srinivasan
Establishment – 23rd April, 1931
Headquarters – Aluva, Kerala
Tagline – Your Perfect Banking Partner
NABARD signs pact with Arthimpact Digital Loans to Support SHGs
The National Bank for Agriculture and Rural Development (NABARD) signed a partnership agreement with Arthimpact Digital Loans (ARTH) to provide end-to-end fintech (financial technology) solutions to support self help groups (SHGs).
Highlights of Agreement:
i.ARTH will provide credit, payments and insurance solutions support to micro-MSME enterprises.
ii.Both organisations will work to provide micro financial services and forward linkage support to SHGs.
- The specialized entities across occupations to 500 enterprises across Uttar Pradesh impacting 2500 households.
About National Bank for Agriculture and Rural Development (NABARD):
Established – 12 July 1982
- The formation was recommended by the committee under the Chairmanship of Sivaraman, former member of Planning Commission.
Chairman– G R Chintala
Total Regional Offices – 31
Headquarters- Mumbai, Maharashtra
NBFC Shrinithi Capital Raises Rs 300 Crores Co-Lending Facility
On 11th January 2022 Shrinithi Capital Private (Pvt) Limited (Ltd), a Non-Banking Financial Company (NBFC) which primarily focuses on commercial vehicle & two-wheeler loans, tied-up with IndoStar Capital Finance Ltd to focus on co-lending facilities.
- Shrinithi Capital Pvt Ltd has raised Rs. 300 crore as co- lending facility from IndoStar Capital Finance Ltd.
- The agreement was signed by Deep Jaggi, CEO, IndoStar Capital Finance Ltd. and S. Sellamani, CEO, Shrinithi Capital Pvt. Ltd.
Under the agreement:
i.Under the agreement, IndoStar Capital Finance Ltd and Shrinithi Capital Pvt. Ltd. has planned to disburse 400 Crores in 2022 to small truck transporters, Owner Cum Drivers especially to the low-profile customers who are unable to take loans from banks and NBFCs.
ii.The co lending facility worth of Rs. 300 crores is in the process of concluding as the 1st phase of merger agreement
About Shrinithi Capital Pvt Ltd:
Incorporated – 2019 (commenced Business in 2020).
CEO & MD – S. Sellamani
Headquarters – Chennai, Tamil Nadu
About IndoStar Capital Finance Ltd:
IndoStar Capital Finance Ltd, an NBFC is owned by Everstone Capital and Brookfield investment, Canada with a net worth of Rs 10,000 crore.
CEO – Deep Jaggi
Headquarters – Mumbai, Maharashtra
NSE Received SEBI’s nod to Launch Derivatives on Nifty Midcap Select Index
National Stock Exchange (NSE) has received approval from Securities and Exchange Board of India (SEBI) to launch derivatives on Nifty Midcap Select Index. The index will be available for trading from 24 January, 2022.
- Nifty Midcap Select Index intends to track the performance of a focused portfolio of 25 stocks within the Nifty Midcap 150 index.
- The midcap stocks account for around 17 percent of market capitalization and the launch of derivatives on the Nifty Midcap Select Index will provide participants with an additional hedging tool to manage their portfolio risk effectively.
Note – Derivatives are financial contracts that derive their value from a spot price, which is called the ‘underlying’. 2 types of derivatives instruments traded on NSE are Futures and Options.
ECONOMY & BUSINESS
Global Economic Growth to slow through 2023, India to grow at 8.3% in 2021: World Bank Reporti.On January 11, 2022, the World Bank’s (WB) Global Economic Prospects Report was released stating a sharp decline in global growth from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023.
ii.On the Indian front, its annual growth is projected at 8.3% in 2021, 8.7% in 2022, and 6.8% in 2023. India’s growth contracted 7.3% (-7.3%) in 2020.
iii.Growth in advanced economies is expected to decline from 5% in 2021 to 3.8% in 2022 and 2.3% in 2023.
iv.On the other hand, for emerging and developing economies, the growth is expected to drop from 6.3% in 2021 to 4.6% in 2022 and 4.4% in 2023.
About World Bank (WB):
President– David Robert Malpass
Headquarters– Washington DC, United States (US)
Member Nations– 189
>> Read Full News
AWARDS & RECOGNITIONS
HDFC Bank Adjudged Best Private Bank in India at the Global Private Banking Awards 2021
On 12 January 2022, the HDFC Bank was named as the ‘Best Private Bank’ in India at the ‘Global Private Banking Awards 2021’ which was organised by Professional Wealth Management (PWM) in a virtual ceremony.
- PWM is a wealth management Magazine, published by the Financial Times Group.
i.The award was given for contributing to accelerate key trends, including digitalisation, communication and investment in environmental, social and governance (ESG) strategies.
ii.The PWM helps in analysing the growth strategies of private banks and the other regional financial institutions in various factors like risk taking abilities, digitization, asset management etc.
- The PWM received over 120 submissions which were reviewed by a panel of 16 judged from four continents.
Note – In 2021, HDFC Bank & Common Services Centres (CSC) e-Governance India Ltd, had launched an OverDraft (OD) scheme named ‘Dukandar Overdraft Scheme’ to provide financial assistance up to Rs 10 lakh to small retailers.
About HDFC Bank:
CEO & MD- Sashidhar Jagdishan
Headquarters- Mumbai, Maharashtra
Tagline- We Understand Your World
Chennai International Airport Ranks 8th in Global List for ‘On-Time Performance’As per the report released by Cirium titled ‘the On-Time Performance Review 2021 Airlines and Airports’, the Chennai International Airport has ranked globally 8th under the large airports category, and is the only Indian Airport to enter the top 10 positions of the list.
- The first 3 positions have been acquired by Japan’s Itami Airport, Fukuoka Airport, and Haneda Airport.
- Cirium analysed about 70 international routes taken by flights at Chennai airport and the ‘On-Time Departure’ were about 89.32 percent.
Features of Chennai Airport:
i.The achievement of Chennai Airport represents Customer service quality and Operational excellence.
ii.The airport plans to develop new facilities to boost its per hour handling capacity along with customer delight.
iii.One rapid exit taxiway (C1) and two parallel taxiways (R&N) have already been commissioned.
iv.Multilevel car parking and a new integrated terminal T2 will be commissioned in near future.
Cirium is an organisation that offers aviation data to travel, finance, aerospace, and aviation industries.
CEO – Jeremy Bowen
Establishment – 1909
Headquarters – London, United Kingdom
APPOINTMENTS & RESIGNATIONS
Pierre-Olivier Gourinchas Named as IMF’s Economic Counsellor and Head of Research Department; Replaces Gita Gopinath
French-born University of California-Berkeley economist Pierre-Olivier Gourinchas has been appointed as the Economic Counsellor and Head of Research Department of the International Monetary Fund (IMF).
- He will succeed Gita Gopinath, who is set to join the IMF’s management team as First Deputy Managing Director.
- He will begin his work as IMF’s chief Economist on 24th January 2022 on a part-time basis transitioning to full time on 1st April 2022.
- He is also Program Director of International Finance and Macroeconomics at the National Bureau of Economic Research (NBER).
GoI Extends Dr Navrang Saini’s Term as Chairperson of IBBI for 3 Months
The Government of India(GoI) has extended the additional charge of Dr Navrang Saini as Chairperson (additional charge) of the Insolvency and Bankruptcy Board of India (IBBI) for 3 months till 5th March 2022 or till the joining of a new incumbent to the post or until further orders.
- He is the Wholetime member of IBBI, took the additional charge as the IBBI Chairperson in October 2021 for 3 months till 13th January 2022.
- The post of full-time Chairperson has been vacant since the retirement of M.S. Sahoo upon completing a 5-year tenure on 30th September 2021.
SCIENCE & TECHNOLOGY
DRDO Flight Tests Final Deliverable Configuration of MPATGM
On January 11, 2022, the Defence Research and Development Organisation (DRDO) successfully flight tested the final deliverable configuration of the Man Portable Anti-Tank Guided Missile (MPATGM) at a range in Southern India. It is indigenously developed anti-tank missile low weight (15kg), fire and forget missile and is launched from a man portable launcher, integrated with thermal sight.
- The test was held to demonstrate the consistent performance of the missile at its minimum range. It has a maximum range of 5 Km. The missile destroyed the target with precision.
- It has already completed a similar successful test for maximum range.
The successful launch of the low-weight missile derived from the Nag Anti-Tank Guided Missile is a boost to the development of advanced technology-based defence systems
i.The missile has miniaturized Imaging Infra-Red (IIR) and advanced avionics for on-board control and guidance. The missile performance has been proven for the maximum range in earlier test trials.
ii.MPATGM is launched using a tripod.
iii.Its launch followed the Nag ATGM to boost the development of advanced technology-based defence systems
Olympic medal winning Athlete Deon Lendore passes away
Olympic athlete Deon Lendore, who participated in the 400 meters race at the 2020 Olympics, passed away at the age 29 years due to a fatal car accident in Texas, United States (US).
i.Deon Lendore was born on 28 October 1992 in Trinidad and Tobago (the Caribbean Islands, South America), was an expert of 400 meters championships.
ii.He participated in the London Olympics in 2012 and won a Bronze medal in 4×400 meter relay. He also participated in the Tokyo Olympic 2021 and in 2016 Rio Olympics.
iii.In 2015, he won a Silver medal in 400m relay in the World 4×400 meter Championships at Beijing, China. He has also won 3 bronze medals at the World Indoor Championships.
Oscar, Emmy, Grammy Winning Lyricist Marilyn Bergman Passed Away Oscar, Emmy and Grammy Awardee & Lyricist Marilyn Bergman passed away at the age of 93.She was born in Brooklyn, USA.
Achievements of Marilyn:
i.Marilyn and Alan Bergman (husband), were the life-long writing partners, winning 3 Oscars for (‘Way We Were – 1974,’ ‘Windmills – 1969’ and the entire song score for ‘Yentl – 1984’).
ii.The Bergmans were honoured with Emmy Awards and Grammy Award for the song of the year.
iii.The Bergmans placed their names in the Songwriters Hall of Fame in 1980.
Marilyn was the first woman president and chairman of the board of the American Society of Composers, Authors and Publishers (ASCAP), from 1994 to 2009.
BOOKS & AUTHORS
HarperCollins to Publish “Ratan N. Tata: The Authorized Biography” by Dr Thomas Mathew
The authorized biography of Ratan Naval Tata (Ratan N Tata), an Indian industrialist, philanthropist, and a former chairman of Tata Sons, titled “Ratan N. Tata: The Authorized Biography” authored by Dr Thomas Mathew will be published in November 2022.
- On 7th January 2022, HarperCollins Publishers acquired the world rights to publish the authorized biography of Ratan N. Tata: The Authorized Biography.
The biography will be published by HarperCollins India in English and the principal Indian languages, by HarperCollins Leadership in the US and by William Collins in the UK.
About the book:
i.The biography chronicles the life of Ratan Tata, one of India’s biggest industrialists and philanthropists.
ii.The book features copious details about Ratan Tata’s childhood, college years, and early influences.
iii.This also entails formerly unreported details about events such as Tata’s Nano project, ouster of former Tata Sons chairman Cyrus Mistry, and Tata Steel Ltd.’s acquisition of Corus.
About Dr Thomas Mathew:
i.Dr Thomas Mathew is a retired IAS officer of the 1983 batch, author, corporate strategist, and defence analyst.
ii.He has served in several important positions in the Ministries of Finance, Defence, and Industry.
- In Search of Congruence: India-US Relations under the Obama Administration (edited and contributed to its lead chapter)
- The Winged Wonders Of Rashtrapati Bhavan
- Abode Under the Dome
- Conserving and upgrading President’s Estate
National Youth Day 2022 – January 12
National Youth Day, also known as Rashtriya Yuva Diwas, is annually celebrated across India on 12th January to commemorate the birth anniversary of the social reformer, great thinker and philosopher, Swami Vivekananda. The day aims to highlight the teachings and philosophy of Swami Vivekananda.
- The theme of National Youth Day 2022 is “It’s all in the mind.”
- 12th January 2022 marks the observance of the 159th birth anniversary of Swami Vivekananda.
25th National Youth Festival, Puducherry:
On the occasion of the National Youth Day 2022, Prime Minister(PM) Narendra Modi virtually inaugurated the 25th National Youth Festival in Puducherry. The virtual edition of the National Youth Festival, organised by the Department of Youth Affairs, will be held from 12th and 13th January 2022.
About Ministry of Youth Affairs And Sports:
Union Minister– Anurag Singh Thakur (Constituency- Hamirpur, Himachal Pradesh)
Minister of State– Nisith Pramanik (Constituency- Coochbehar, West Bengal)
>> Read Full News
Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 13 January 2022|
|1||PM Modi Inaugurated MSME Technology Centre & Perunthalaivar Kamarajar Manimandapam in Puducherry|
|2||Dr Jitendra Singh Launches AI Driven Start-Up for Water Purification|
|3||Indian Railways renames ‘Kevadiya Station’ as ‘Ekta Nagar Railway Station’|
|4||India’s Passport Ranked 84th on Henley’s Passport Index Q1-2022|
|5||UCO Bank Launched RuPay Select Contactless Debit Card in partnership with NPCI|
|6||Federal Bank Launches Instant Loan Approval Portal for MSMEs|
|7||NABARD signs pact with Arthimpact Digital Loans to Support SHGs|
|8||NBFC Shrinithi Capital Raises Rs 300 Crores Co-Lending Facility|
|9||NSE Received SEBI’s nod to Launch Derivatives on Nifty Midcap Select Index|
|10||Global Economic Growth to slow through 2023, India to grow at 8.3% in FY22: World Bank Report|
|11||HDFC Bank Adjudged Best Private Bank in India at the Global Private Banking Awards 2021|
|12||Chennai International Airport Ranks 8th in Global List for ‘On-Time Performance’|
|13||Pierre-Olivier Gourinchas Named as IMF’s Economic Counsellor and Head of Research Department; Replaces Gita Gopinath|
|14||GOI Extends Dr Navrang Saini’s Term as Chairperson of IBBI for 3 Months|
|15||DRDO Flight Tests Final Deliverable Configuration of MPATGM|
|16||Olympic medal winning Athlete Deon Lendore passes away|
|17||Oscar, Emmy, Grammy – winning lyricist Marilyn Bergman dies at 93|
|18||HarperCollins to Publish “Ratan N. Tata: The Authorized Biography” by Dr Thomas Mathew|
|19||National Youth Day 2022 – January 12|