Current Affairs 15 July 2022

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NATIONAL AFFAIRS

CCEA Gives Approval to Taranga Hill-Ambaji-Abu Road New Rail Line & Upgradation of NRTI to Gati Shakti University in Gujarat

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister (PM) Narendra Modi, has given its approval to the following proposals:
i.For the construction of the Taranga Hill-Ambaji-Abu Road(in Gujarat) new rail line by the Ministry of Railways.
ii.For the National Rail and Transportation Institute (NRTI) in Vadodara, (Gujarat) to be upgraded to Gati Shakti University/Gati Shakti Vishwavidyalaya.
The Taranga Hill-Ambaji-Abu Road (in Gujarat) new rail line is intended to increase connectivity and mobility, leading to the overall socio-economic growth of the region.

• The total length of the new rail line will be 116.65 kilometres (km), with an estimated cost of Rs. 2798.16 crore. It is expected to be completed by 2026-27.

The NRTI will now be upgraded from a deemed-to-be-university to a Central University, serving as a hub for education, training, skilling & research in the transportation sector.

• The University is named after the Government of India’s flagship multimodal connectivity project, the Rs. 100 trillion PM Gati Shakti National Master Plan.

About Ministry of Railways:
Union Minister – Ashwini Vaishnaw (Rajya Sabha – Odisha)
Minister of State (MoS) – Danve Raosaheb Dadarao (Jalna Constituency, Maharashtra)
>> Read Full News

Highlights of PM Modi’s visit to Jharkhand, Bihar on 12th July 2022

On 12th July 2022, Prime Minister (PM) Narendra Modi visited the Deoghar District in Jharkhand and launched several developmental projects worth around Rs 16,800 crores. Later he also visited Patna, the capital of Bihar on the same day (12th July) and addressed the closing ceremony of the Centenary celebrations of the Bihar Legislative Assembly (100 years of Bihar Vidhan Sabha).

• PM Modi has become the first Indian Prime Minister to visit the Bihar Vidhan Sabha Complex.

Highlights:
i.PM inaugurated the Deoghar Airport, a vital development to provide direct connectivity to Baba Baidyanath Dham, an important religious destination for devotees from all over India.
ii.He laid the foundation stone of the Vidhan Sabha museum, which will feature several galleries demonstrating the history of democracy in Bihar and the evolution of the current civic structure
iii.PM Modi also unveiled a 40-feet high “Shatabdi Smriti Stambh (centenary column)” at the Bihar Legislative Assembly complex.
About Jharkhand:
Capital– Ranchi
Zoological Park– Tata Steel Zoological Park; Bhagwan Birsa Biological Park
Airports– Birsa Munda International Airport; Dhanbad Airport
>> Read Full News

IIT Delhi Inaugurates New Census Data Workstation; Deadline for Freezing Administrative Boundaries ExtendedThe Indian Institute of Technology (IIT) Delhi inaugurated a new Census Data Workstation at the Economics Lab in the Department of Humanities and Social Sciences at IIT Delhi in New Delhi (Delhi) on July 6, 2022.

• Dr. Vivek Joshi, Registrar General and Census Commission of India, inaugurated the Census Date Workstation.
• The Census Data Workstation would facilitate academicians and researchers have access to Census Microdata and raise awareness about the massive amount of data generated during Census operations in India.

The Registrar General of India (RGI), Ministry of Home Affairs (MoHA), notified all States/Union Territories (UTs) in June 2022 that the deadline for freezing administrative boundaries had been extended to December 31, 2022, thereby ruling out a census in 2022. The previous deadline for jurisdictional changes was June 30, 2022.

• The census 2021 or 16th National census survey, has now been postponed again to 2023–2024. The most recent census or 15th National census survey was carried out in 2011.

Census Organization of India :
Registrar General & Census Commissioner, India – Dr. Vivek Joshi, I.A.S.
Headquarters – New Delhi, Delhi.
>> Read Full News

Delhi Establishes India’s First E-waste Eco Park; Delhi Govt & IIIT-Delhi signs MoU to Improve Urban Mobility

Delhi Government Signs MoU with IIIT-D for Improving Urban Mobility
On 13th July 2022 Delhi’s transport department signed a Memorandum of Understanding (MoU) with the Indraprastha Institute of Information Technology Delhi (IIIT-D) to conduct research and develop technologies to improve urban mobility in Delhi.

• Through the partnership, the organisations will provide solutions in the field of urban transportation, sustainable development and also promote start-ups for urban mobility.

About Delhi:
Lieutenant Governor – Vinay Kumar Saxena
Wildlife sanctuary – Asola Bhatti Wildlife Sanctuary
>> Read Full News

Paper Import Monitoring System to Come into Effect from October 01, 2022

The Directorate General of Foreign Trade (DGFT) of the Ministry of Commerce and Industry (MoCI) has introduced the Paper Import Monitoring System (PIMS) by amending the import policy of major paper products from ‘Free’ to ‘Free subject to compulsory registration under PIMS’.

• The implementation of PIMS will be effective from October 1, 2022. Meanwhile, the online registration facility will be available from July 15, 2022.

Coverage of Paper Products Under PIMS
The PIMS will be applicable to 201 tariff lines of paper products imported by a Domestic Territory Area unit, including newsprint, handmade paper, coated paper, uncoated paper, Litho and offset paper, tissue paper, toilet paper, cartons, labels, and more.
Whereas, paper products like currency paper, bank bond and cheque paper, security printing paper, and so on have been exempted from mandatory registration.
Requirements Under PIMS
i. According to PIMS, an importer must pay a registration fee of Rs. 500 and acquire an automated registration number online not earlier than the 75th day or no later than 5th day before the expected arrival date of an imported consignment.
ii.Multiple consignments of Bills of Entry (BoEs) may be submitted under the same registration number within the validity period of registrationand for the permitted quantity. The automatic registration number is valid for 75 days.
iii. In addition, registration under PIMS will be necessary at the point of import by a Unit in Special Economic Zone (SEZ)/Free Trading Warehousing Zone (FTWZ) or at the time of import by an Export Oriented Unit (EOU) of the items covered under PIMS.
Advantages
i. The introduction of PIMS is designed to prevent imports under “Others” category tariff lines, dumping of paper products in the domestic market by under-invoicing, entry of forbidden commodities through mis-declaration, and re-routing goods through other countries in lieu of trade agreements, based on domestic paper sector demand.
ii.When a profile of paper enters India under the “others category,” it can be used to determine whether the reason for avoiding the HS (Harmonized System) Code is for convenience or to avoid excessive duty.
iii. This could also help the “Make in India” and “Atmanirbhar” initiative in this category.

INTERNATIONAL AFFAIRS

India is among 7 Nations where 1.4 bn Adults are without Access to Formal Banking: WB’s Global Findex Database 2021

i.The World Bank (WB) has released the 4th edition of its Global Financial Inclusion Database/Report titled ‘The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19‘. As per it, India is among seven countries which home to half the world’s 1.4 billion adults without access to formal banking.
ii.Sub-Saharan Africa, young adults (ages 15–24) make up almost 40% of those without access to banking.
iii.The database was prepared by the Finance and Private Sector Development team of the Development Research Group in the World Bank’s Development Economics Vice Presidency (DEC).
iv.Large shares of the global population without formal banking lives in India (130 million) and China (230 million) because of their size. They are followed by Pakistan (115 million), and Indonesia (100 million).
About World Bank (WB):
Member Nations– 189
President– David Malpass
Five Institutions– The International Bank for Reconstruction and Development (IBRD), The International Development Association (IDA), The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), and The International Centre for Settlement of Investment Disputes (ICSID)
>> Read Full News

India ranks 135 out of 146 in Global Gender Gap Index; Iceland Topsi.On July 13, 2022, the World Economic Forum (WEF) released the Global Gender Gap Index for 2022, under Global Gender Report 2022, in which India ranks low at 135th place among a total of 146 countries.
ii.However, India has scored 0.629, on a scale of 0 to 1, which is its 7th highest score in the last 16 years.
iii.Iceland has topped the list becoming the most gender equal country for the 12th time in a row, by closing more than 90.8% of its gender gap.
iv.In 2022, the global gender gap has been closed by 68.1%. At the current rate of progress, it will take 132 years to reach full parity.
About World Economic Forum (WEF):
Establishment– 1971
Founder and Executive Chairman– Klaus Schwab
Headquarters– Geneva, Switzerland
>> Read Full News

BANKING & FINANCE

Agritech Startup nurture.farm Partners with SBI General Insurance & Future Generali for Insurance SolutionsOn 13th July 2022, nurture.farm, an agri-tech startup partnered with SBI General Insurance and Future Generali India Insurance Company to expand its insurance solutions for its 1.9 million farmers.

• Aim – To offer insurance solutions to around 2 million farmers in 2022-23.

About nurture.farm:
i.The agri-tech nurture.farm is an open digital platform for farm growers, farming communities and food systems and has recently stepped into insurance.
ii.The nurture.farm has received a licence from the Insurance Regulatory and Development Authority of India (IRDAI) on providing insurance to help farmers with insurance solutions at cost-effective prices.
About SBI General Insurance Company:
MD & CEO – Paritosh Tripathi
Headquarters – Mumbai, Maharashtra

HDFC Bank Partners With NIIT to Train and Hire Data Engineers

National Institute of Information Technology (NIIT), Institute of Finance, Banking and Insurance (IFBI), a subsidiary of NIIT Limited, has entered into a partnership with HDFC Bank to build digital talent for the banking industry.

• The partnership aims to nurture talent in the tech field of data science and empower them to leverage data meaningfully and deliver useful business insights.
• The first learning program to be launched is the HDFC Bank Data Digits-Post Graduate (PG) Program in Data Engineering. The learning programs will be delivered through live, instructor-led sessions, and guest lectures from senior executives of HDFC Bank. Through this program, the bank aims to hire close to 100 data scientists in one year.

Jubilant Pharma arm to raise USD 400 million loan from Standard Chartered Bank to repay debt

Jubilant Pharma Holdings Inc (JPHI) has signed an agreement with Standard Chartered Bank (SCB) for a five-year loan of USD 400 million (about Rs 3,186 crore) for repayment of existing term loan and bonds aggregating USD 350 million (about Rs 2,787 crore) and additional tranche of USD 50 (about Rs 400 crore) million for capital expenditure.
Jubilant Pharma Holdings Inc (JPHI), a subsidiary of Jubilant Pharma Limited is the wholly-owned subsidiary of Jubilant Pharmova Limited (Parent Organisation).

ECONOMY & BUSINESS

Cricketer Shikhar Dhawan collaborates with Web3 startups, Bliv. Club & WIOM to launch the first sports city in the metaverse

Indian Cricketer, Shikhar Dhawan has collaboration with Web3 fintech company, Bliv.Club, and Web3 Metaverse company, World in One Metaverse (WIOM) to launch the first sports city in the Metaverse.
i.The Sports city will be home to cricket stadiums, sports complexes, sports cafes, gyms, e-sports zones, sports cottages, running tracks, a 3D immersive sports museum, a sports library, and more.
ii.The global sports market is expected to grow from USD 354.96 billion in 2021 to USD 501.43 billion in 2022 at a compound annual growth rate (CAGR) of 41.3 per cent. The sports market is expected to reach USD 707.84 billion in 2026 at a CAGR of 9 per cent.
iii.The global metaverse market is anticipated to reach a market value of around USD1,803 billion by 2030, growing at an annual rate above 45.8 per cent from 2022 to 2030.
Note- Bliv.Club was founded in 2021 by Vikas Singh, Abhishek Kumar Gupta, and Mohammed Sirajuddin. Abhinav Tandon is the founder of WIOM.    

ACQUISITIONS & MERGERS

Infosys to acquire BASE life science for 110 million Euro

Infosys Ltd signed a definitive agreement to acquire BASE life science, a leading technology and consulting firm in the life sciences industry, for up to 110 million Euro (about $111 million). The acquisition is expected to close during the second quarter (Q2) of FY23.
i.The acquisition of Denmark-based BASE life science is to deepen life sciences domain capabilities and strengthen footprint across Europe and will help global life sciences companies realize business value from cloud-first digital platforms and data, to speed-up clinical trials and scale drug development.
ii.BASE collaborates with leading software technology providers in the life sciences industry such as Veeva, IQVIA and Salesforce.
iii.BASE has about 200 industry experts across Denmark, Switzerland, UK, Germany, France, Italy, and a nearshore technology hub in Spain. Founded in 2007.

SCIENCE & TECHNOLOGY

Agnikul Inaugurates India’s First Facility for 3D Printed Rocket Engines

Agnikul Cosmos, a Chennai-based Indian space tech start-up, opened its first rocket Making Facility – Rocket Factory-1, India’s first-ever rocket facility for 3D printed rocket engines at the Indian Institute of Technology (IIT) – Madras research park, Chennai, Tamil Nadu.

• The 10,000-square feet facility was formally inaugurated by N. Chandrasekaran, Chairman of Tata Sons and S. Somanath, Chairman, Indian Space Research Organisation (ISRO).
• Pawan Goenka, chairman of the Indian National Space Promotion and Authorization Centre (IN-SPACe) was present during the event.

Note: IIT Madras Research Park is India’s 1st university-based research park and a non-profit organisation sponsored by IIT Madras.
About Rocket Factory-1:
i.Rocket Factory-1 houses EOS M400-4 metal 3D printer and other equipment required for the end-to-end production of a rocket engine.
ii.The factory is capable of producing 2 rocket engines per week.
iii.The Rocket Factory-1 encourages businesses to establish Research & Development (R&D) facilities in the Research Park.
Key Points:
i.3D printed rocket engines created by Agnikul will be used for its Agnite and Agnilet rocket engines.
ii.Agnikul is building India’s first private small satellite launch vehicle – Agnibaan, a customisable, two-stage launch vehicle that can carry up to 100 kg of payload to low earth orbits (700 km high). Agnibaan will be launched in 2022.
iii.Agnilet is the world’s 1st single-piece 3D printed rocket engine, which is indigenous to India. It was successfully test-fired in 2021.
BITS-Pilani Hyderabad to support Abyom to build India’s 1st reusable sounding rocket
Technology Business Incubator (TBI) of Birla Institute of Technology and Science(BITS), Pilani – Hyderabad campus(Telangana) will support Abyom SpaceTech and Defence Pvt. Ltd(Abyom), an Aerospace Startup based in Uttar Pradesh(UP), looking to develop ‘Reignition Liquid Engine’ for building India’s first reusable sounding rocket.
Key highlights:
i.Abyom, recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), is working on the development of a liquid propulsion rocket engine and testing system for use on space launch vehicles.
ii.This technology will be used to create India’s first reusable sounding rocket, which will benefit meteorology, agri-tech data sectors. It can also be used to conduct experiments in the atmosphere.
iii.BITS-Pilani’s state-of-art infrastructures like high-performance computing for simulation, petrochemical labs and remote engineering labs can assist in Abyom’s design and development.
iv.Use of rockets like any other reusable aircraft is going to reduce space debris and also factor in the cost of the space mission

US Successfully Tests Pair of Lockheed Hypersonic Missiles

The United States (US) successfully tested two Lockheed Martin Corporation hypersonic missiles amidst the test carried out by Russia and China of their own hypersonic missiles.
Highlights:
i.Missile 1 – The US Air Force successfully tested an Air-Launched Rapid Response Weapon (ARRW) booster off the California coast which was carried by B-52H before it was launched.
ii.Missile 2 – The Defence Advanced Research Projects Agency (DARPA) successfully carried out the 1st test of its Operational Fires hypersonic weapon at White Sands Missile Range, New Mexico.

• The concept of the DARPA hypersonic weapon is to use an existing high mobility artillery rocket system (HIMARS) launcher.
• Note – Operational Fires is a ground-launched system for which DARPA had received USD 45 million for OpFires tests in 2022.

About Hypersonic Missile:
i.A hypersonic missile flies at a speed of Mach 5, which is 5 times the speed of the sound.
ii.It is different from the ballistic missile in trajectory, as ballistic missile follows a course of trajectory but hypersonic missiles can be manoeuvred to the intended target.
About Lockheed Martin Corporation:
Chairman, President & CEO – James D.Taiclet
Headquarters – Bethesda, Maryland

Cancer: IIT Madras Develops AI-based Tool to Predict Cancer-causing Genes; DCGI Approves India’s 1st qHPV Vaccine to Treat Cervical Cancer

The researchers from Indian Institute of Technology (IIT) Madras have developed PIVOT, an Artificial Intelligence (AI)-based tool that can predict cancer-causing genes in humans.

• Aim- To help in predicting and analysing personalised cancer treatment strategies.

Key highlights:
i.The AI-based tool is based on a machine learning model that classifies genes as tumour suppressor genes, oncogenes or neutral genes.
ii.This identification of cancer genes is necessary as not all gene mutations result in cancer and also personalised treatments can be given.
iii.The tool was able to successfully predict both the existing oncogenes and tumour-suppressor genes like TP53, and PIK3CA, among others, and new cancer-related genes such as PRKCA, SOX9 and PSMD4.
About PIVOT:
i.PIVOT’s gene prediction is based on a model that utilises information on gene mutations, expression of genes, copy number variation in genes and perturbations in the biological network due to an altered gene expression.
ii.This can identify 3 different cancers that includes breast invasive carcinoma, colon adenocarcinoma and lung adenocarcinoma.
DCGI Approves India’s 1st qHPV Vaccine to Treat Cervical Cancer
Drugs Controller General of India (DCGI) has approved India’s 1st indigenous Quadrivalent Human Papillomavirus Vaccine (qHPV) to treat cervical cancer in women  for market authorisation.

• The qHPV vaccine will be manufactured by the Serum Institute of India (SII), Pune, Maharashtra and launched by the end of 2022.

Note – Recently, The National Technical Advisory Group on Immunisation (NTAGI) had also approved the qHPV after reviewing the clinical trial data of the vaccine.
Facts:
i.Cervical cancer is the 2nd most frequent cancer among women in India between 15 years and 44 years.
ii.Every year, 122,844 women are diagnosed with cervical cancer and 67,477 die from the disease.

Samsung develops industry’s first, world’s fastest graphics DRAM chip

South Korea-based Samsung has developed industry’s first, new graphics Dynamic Random-Access Memory (DRAM) chip with a faster speed and improved power efficiency. The 24-gigabit Graphics Double Data Rate 6 (GDDR6) adopts third-generation, 10-nanometer technology and boasts a data processing speed that is over 30 per cent faster than existing products.
i.The new DRAM chip can process graphic images at a rate of up to 1.1 terabytes per second, which Samsung claims is the fastest in the world and equivalent to processing 275 full HD movies in a second.
ii.Graphics DRAMs are widely used in high-powered 3D games, personal computers, notebooks or devices that play videos with a high resolution.

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