Current Affairs 18 & 19 September 2022

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NATIONAL AFFAIRS

Union Minister Ashwini Vaishnaw launches ‘Swachhta Pakhwada‘ across Ministries of Indian Railways, MoC, & MeitYAshwini Vaishnaw, Union Minister for Railways has launched ‘Swachhta Pakhwada’ across Indian Railways, Ministry of Communications (MoC), and Ministry of Electronics & Information Technology (MeitY) in New Delhi, Delhi. Swachhta Pakhwada will be observed from 16th September 2022 to 30th September 2022. 

• Ministry of Railways has extended it suo-moto up to 2nd October 2022. It will culminate with Mahatma Gandhi’s Jayanti.
• During the inauguration, Swachhta pledge was administered by the Minister to Railway, Communications and Electronics & Information Technology employees at Headquarters, Divisional Offices and other related establishments.
• Its focus is Seva, Sushashan and Gareeb Kalyan.

Key Points:
i.The participating ministries in Swachhta Pakhwada will focus on an intensive cleanliness campaign, service for TB (Tuberculosis) patients and Mega Blood Donation Drive.
ii.For 2022, special focus is on cleanliness and sanitization of stations, trains, tracks, colonies and other railway establishments, and elimination of plastic waste in Railway premises.
iii.Extensive awareness campaign will be carried out through digital media/public announcement to educate people about the use of bio-toilets, avoiding single use plastic and observing cleanliness habits.
Release of Annual report on environment sustainability 2020-21:

• The Union Minister also released Annual report on environment sustainability 2020-21 which is a comprehensive referral document highlighting the steps taken by Indian Railways to promote green environment and clean energy.
• Also its effort towards net zero emission including energy conservation measures, alternate fuel, harnessing renewable energy, water conservation, afforestation, green certification of stations, solid waste management etc.

About Swachhta Pakhwada:
It was started in 2016 with the objective of engaging Government Ministries/Departments in their jurisdictions. The Ministries observing Swachhata Pakhwara are monitored closely using the online monitoring system of Swachhata Samiksha where action plans, images, videos related to Swachhata activities are uploaded and shared.

MCA Revises Definition of Small Companies to Facilitate Ease of Doing Business

The Ministry of Corporate Affairs (MCA) has further revised the definition of “small companies” under the Companies Act, 2013 by raising the thresholds for paid-up capital from ‘not exceeding Rs. 2 crore’ to ‘not exceeding Rs. 4 crore’ and turnover from ‘not exceeding Rs. 20 crore’ to ‘not exceeding Rs. 40 crore’.

The Companies (Specification of Definitions Details) Rules, 2014 were amended by the MCA and took effect on April 01, 2021.

• According to it, the definition of “small companies” under the Companies Act, 2013 was amended by raising the thresholds for paid-up capital from “not exceeding Rs 50 lakh” to “not exceeding Rs 2 crore” and turnover from “not exceeding Rs 2 crore” to “not exceeding Rs 20 crore.”

About Ministry of Corporate Affairs (MCA):
Union Minister – Nirmala Sitharaman (Rajya Sabha- Karnataka)
Minister of State (MoS)– Rao Inderjit Singh
>> Read Full News

UP Places First Among States in Trials Pending in Fast-Track Courts

Union Minister Kiren Rijiju, Ministry of Law, noted in a letter to the Chief Justices of the High Courts that Uttar Pradesh (UP) accounts for more than 70% of the 13.81 lakh pending trials in Fast-Track Courts (FTCs) in cases of heinous crimes against women, children, and senior citizens.

• He also urged them to expedite the process of establishing Fast-Track Special Courts (FTSCs) and FTCs in their respective states in order to resolve these challenges.

FTSCs were established under a centrally-sponsored scheme for the expedited trial of rape and the Protection of Children from Sexual Offences (POCSO) Act cases.
Key Statistics:
i.The FTCs of Uttar Pradesh (UP) have more than 9.33 lakh cases pending (tops the list), followed by Maharashtra with over 1.4 lakh cases, Tamil Nadu with 1.06 lakh cases, West Bengal with 71,260 cases, and Telangana with 12,538 cases.

• The 14th Finance Commission recommended 1,800 FTCs, however only 896 of them were operational as of July 31, 2022.

ii.UP also tops the list of states where trials in rape cases and matters under the POCSO Act have yet to be resolved, with over 60,000 cases pending in the FTSCs.

• It is followed by Maharashtra, which has nearly 43,000 cases pending in the FTSCs, West Bengal (35,653), Bihar (22,592), Tamil Nadu (20,037), Odisha (19,214), Rajasthan (18,077), Kerala (14,392), Gujarat (12,347), and Telangana (12,248).

iii.There are currently 3,28,556 cases pending at the FTSCs across 28 states and Union Territories (UTs).

National Technical Textiles Mission Flagship Programme: Ministry of Textiles Clears 23 Strategic Projects Worth Rs. 60 CroreUnder its Flagship Programme ‘National Technical Textiles Mission’ (NTTM), the Ministry of Textiles approved 23 strategic research projects totalling around Rs. 60 crores in the fields of Specialty Fibres, Sustainable Textiles, Geotextiles, Mobiltech, and Sports Textiles.

• The projects were approved under the chairmanship of Union Minister Piyush Goyal, Ministry of Textiles.

Breakdown of the 23 Approved Research Projects

• 12 Projects – Specialty Fibres with Applications in Agriculture, Smart Textiles, Healthcare, Strategic Applications and Protective Gears.
• 4 Projects – Sustainable Textiles with Applications in Agriculture & Healthcare Sector.
• 5 projects – Geotextile
• 1 project – Mobiltech
• 1 project – Sportech

Technical textile inputs were contributed by the Member of NITI Aayog (National Institution for Transforming India) (Science & Technology) and the Principle Scientific Advisor (PSA), as well as line ministries.
Key Focus Areas
The following areas need to be prioritised in order to address the technological divide in the technical textiles sector:

• Identifying the technical textiles research area
• Interaction with industry and promotional initiatives such as conferences & exhibitions
• A buyer-seller event to promote the usage of technical textiles in India
• To boost exports

ICAR launches Hackathon 3.0 “KRITAGYA”,  national level hackathon to promote speed breeding for crop improvement

Indian Council of Agricultural Research (ICAR) with its National Agricultural Higher Education Project (NAHEP) and Crop Science Division of ICAR   organised Hackathon 3.0 “KRITAGYA”, a national-level hackathon‘ on promoting ‘Speed Breeding for Crop Improvement’.  This also aims to encourage greater adoption of technology-enabled solutions in the field of crop science.
The registration for the event is open till 26 September 2022 https://nahep.icar.gov.in/Kritagya.aspx
About ‘Kritagya Hackathon 3.0:’:
i.The definition of KRITAGYA is: KRI -Krishi meaning Agriculture, TA- Taknik meaning Technology and GYA- Gyan meaning Knowledge.

• The programme is in line with National Education Policy (NEP) 2020.

ii.In this competition, students, faculty and innovators, entrepreneurs from any university/technical institute across India can apply and participate as a group.

• The participating group shall consist of maximum four participants, with not more than one faculty and/or more than one innovator or entrepreneur.
• Participating students can collaborate with local start-ups, students from technology institutes and can win up-to Rs 5 lakh.

iii.It will provide opportunity to students, faculties, entrepreneurs, innovators and others to showcase innovative approaches and technology solutions to promote innovation for crop improvement.
iv.Hackathon 1.0 & 2.0:
Hackathons 1.0 and 2.0 were organized to promote innovation in farm mechanization and animal science during the years 2020-21 and 2021-22 respectively.

• The hackathons were organized by NAHEP in association with Agricultural Engineering and Animal Science Divisions of ICAR.

About National Agricultural Higher Education Project (NAHEP):
ICAR started the NAHEP  with the assistance of the World Bank (WB) in November 2017.
Objective: To support participating agricultural universities (AUs) and ICAR in providing more relevant and higher quality education to the students.

BSF to deploy 1st Female Camel Riding Squad along India-Pakistan border in Rajasthan & Gujarat

The Border Security Force (BSF)’s first female camel riding squad will be deployed along the India-Pakistan border in Rajasthan and Gujarat.

• The Intensive training was provided to the squad at the Bikaner (Rajasthan) Regional Headquarters of BSF under the supervision of skilled trainers.
• The squad will participate for the first time in the BSF Raising Day Parade on 1st December 2022. This Squad will be the first of its kind in the world.

INTERNATIONAL AFFAIRS

White Paper highlighting ‘Urban Wastewater Scenario in India’ at IWA World Water Congress & Exhibition 2022 in Copenhagen, Denmark

On September 12, 2022, a Whitepaper on ‘Urban Wastewater Scenario in India’ was launched by Union Minister Gajendra Singh Shekhawat, Ministry for Jal Shakti (MoJS), India; Lea Wermelin, Minister of Environment, Denmark; and Flemming Moller Mortensen, Minister of Development Co-operation, Denmark along with the Indian Delegation during International Water Association (IWA) World Water Congress & Exhibition 2022 in Copenhagen, Denmark.

• This whitepaper is an outcome of the Green Strategic Partnership between India and Denmark with a focus on green hydrogen, renewable energy and wastewater management.

Who prepared the whitepaper?
It was prepared by an interdisciplinary team which was formed by the Government of India (GoI) with partners from Atal Innovation Mission (AIM), NITI Aayog, MoJS, National Mission for Clean Ganga (NMCG), Innovation Centre Denmark (ICDK), and Indian Institute of Technology Bombay (IITB).

• ICDK is a unit under the Embassy of Denmark and Denmark Technical University (DTU) design.

What is in the Whitepaper?
i.It points out the current status of wastewater treatment in India and potential pathways for future treatment structures, co-creation and collaborations.
ii.It also highlights some success stories, need for wastewater treatment, scope for improvement and augmentation in existing infrastructure and technologies, methods for public participatory approach, financing and co-financing options building capacity via training, etc.
Points to be noted:
i.India has committed investments of more than US $ 140 Billion by 2024 in the water sector.
ii.The GoI has adopted a community centric approach whereby at least 10% funds are contributed by community in every program while massive investment is from Government.

• This ensures community ownership and participation.

About AIM-ICDK Water Innovation Challenges in India:
Earlier AIM and ICDK planned and implemented the AIM-ICDK Water Innovation Challenges in India to identify innovators from India that can represent and form the Indian participation in the global Next Generation Water Action (NGWA) program hosted by IWA and Denmark Technical University. Teams working on India problems were provided mentorship support.

• Following this, the Danish embassy conducted the AIM-ICDK 2.0 water innovation challenge again with the partnership of AIM, NITI Aayog.

NGWA is an international initiative with the ambition to engage young talents from leading universities and innovation hubs before, during and after the IWA World Water Congress & Exhibition 2022.

European Parliament: Hungary is no Longer a Full Democracy, Becomes an Electoral AutocracyOn 15th September 2022, The Members of the European Parliament(MEP) declared in a non-binding but highly symbolic report, that Hungary is no longer a fully functioning democracy.

• The declaration states that Hungary will be considered a ‘hybrid regime of electoral autocracy’,  in which elections will be held regularly without following basic democratic norms.
• The EU resolution received 433 votes in favour, 123 against and 28 abstentions.
• This is the first time an EU institution has declared that its member state is not a proper democracy, an essential prerequisite to join the European Union(EU).

Highlights:
i.Gwendoline Delbos-Corfield, a French MEP who sits with the Greens, is the rapporteur for the report on Hungary which examines the developments that have taken place in Hungary since the hemicycle triggered the Article 7 procedure in 2018.

• Article 7 of the Treaty on European Union (EU) is a procedure in the treaties of the EU to suspend certain rights from a member state.

ii.Every year, Hungary receives over 6 billion EURO in EU funds, most of which support cohesion projects.
iii.Johannes Hahn, the European Commissioner for budget, has proposed a 70 percent cut in Hungary’s funding if the government fails to implement the necessary measures to strengthen democratic standards and effectively fight corruption.

• In September 2022 Prime Minister Viktor Orbán had signed a decree to establish an anti-corruption agency, along with a separate task force with both governmental and non-governmental delegates.

iv.The European Commission launched in April 2022 is a new system that can freeze a EU member country’s allocated share of the EU budget, when its financial interests are endangered.
Concern:
The lawmakers raise concern about certain fundamental rights that are under threat due to resolution, including the electoral system, the independence of judiciary, privacy, freedom of expression, media pluralism, academic freedom, LGBTIQ rights and the protection of minorities and asylum seekers.

Saudi Arabia beats Russia to become India’s second-largest oil supplier in August 2022

Saudi Arabia became the 2nd-biggest oil supplier to India after a three months gap, overtaking Russia (first is Iraq). India also became Russia’s second biggest oil purchaser after China.

• India, the world’s 3rd biggest oil importer and consumer, shipped in 8,63,950 barrels per day (bpd) of crude from Saudi Arabia up from 4.8% from July 2022. India’s oil import from Russia fell 2.4% to 8,55,950 bpd.
• The share of oil imports from the Organization of the Petroleum Exporting Countries (OPEC) in India also decreased by 59.8%, the lowest in at least 16 years as India cut African imports.
• In August 2022, the United Arab Emirates (UAE) was the 4th, while Kazakhstan replaced Kuwait to become 5th-largest oil supplier to India, followed by the United States (USA).
• The data also suggested, due to higher intake of Caspian sea oil, mainly from Kazakhstan, Russia and Azerbaijan, India’s purchases from Africa and other countries have decreased.
• African oil’s share in August 2022 halved to 4.2% while Latin America’s share fell to 5.3% from about 7.7%.

IOM-UN Migration signs MOU with CII; CII to adopt over 35,000 TB patients as part of TB eradication programi.On September 16, 2022, a Memorandum of Understanding (MoU) was signed between the United Nations (UN)-International Organization for Migration (IOM) and the Confederation of Indian Industry (CII) to collaborate on strengthening the safe migration of Indian citizens.
ii.Under this MoU, IOM will offer a range of opportunities to CII to further its commitment regarding global migration of skilled professionals.
iii.The CII has decided to adopt over 35,000 tuberculosis (TB) patients by providing nutritional support. In this regard, it is working closely with Central TB Division, Ministry of Health and Family Welfare (MoH&FW).
About Confederation of Indian Industry (CII):
President– Sanjiv Bajaj (2022-23)
Director-General– Chandrajit Banerjee
Headquarters– New Delhi, Delhi
>> Read Full News

BANKING & FINANCE

RHFL Partners with EGI to Offer Property Insurance Cover to its Customers

Edelweiss General Insurance (EGI) partnered with Repco Home Finance Limited (RHFL) to offer insurance solutions to all home loan customers of RHFL.
Key highlights:
i.EGI will offer property insurance cover and loan protection cover to RHFL’s customers through their branches across India.

• It also provides customised, affordable, and convenient insurance solutions to loan borrowers.

ii.The property insurance cover will focus on protecting home against fire and all other natural calamities and the loan protection cover safeguards the customer’s repayment of loans on an unforeseen accident.
About Edelweiss General Insurance:
Executive Director and CEO – Shanai Ghosh
Headquarters – Mumbai, Maharashtra
About Repco Home Finance Limited (RHFL):
MD & CEO – K Swaminathan
Establishment – 2000
Headquarters – Chennai, Tamil Nadu

ECONOMY & BUSINESS

Google Cloud & Nasscom partner to skill students for entry-level Cloud jobs Google Cloud in collaboration with FutureSkills Prime, a Ministry of Electronics & Information Technology (MeitY) and NASSCOM (National Association of Software and Services Companies) Digital Skilling Initiative, has launched the first cohort of its computing foundations with the Kubernetes course.
AIM:
The beginner-level course aims to provide an opportunity for the participants to experience cloud computing, cloud basics, big data and machine learning (ML).
About the course:
i.The course will be offered free to students at higher education Institutions and freshers seeking to skill themselves on emerging technologies.
ii.It will provide individuals an introduction to cloud computing covering cloud basics, big data etc.

• The course will provide hands-on training through the Google Cloud Skills Boost platform, for diverse career paths including IT infrastructure, data analytics, and Cloud-native application development, among others.

iii.After completing the programme, participants will get a course completion certificate along with industry-recognised skill badges.
Kubernetes is an open-source container orchestration system for automating software deployment, scaling and management.
Redington India, Google Cloud enter into tie-up for drive distribution
Redington Ltd has partnered with Google Cloud India to drive the distribution and adoption of Google Workspace and Cloud with small and medium businesses.
i.This partnership aims to address the demand for Google Cloud-based services in India as the public cloud services market is expected to grow at a CAGR (Compound Annual Growth Rate) of 24 % and reach up to USD 13.5 billion by 2026.
ii.The collaboration will help to enhance the procurement and delivery of relevant cloud services in India.

AWARDS & RECOGNITIONS

Indian scientist, Padma Shri awardee Dr Swati Piramal conferred France’s  Legion of Honour AwardIndian Scientist-Industrialist and Padma Shri recipient Dr Swati Piramal, Vice-Chairperson of the Piramal Group was honoured with the ‘Chevalier de la Legion d’Honneur’ (Knight of the Legion of Honour), France’s top civilian honour for her contribution to business, science, medicine, arts, culture, and Indo-French ties.

• The award was presented to her by H.E. Catherine Colonna, Minister for Europe and Foreign Affairs of France on behalf of President Emmanuel Macron.

Highlights:
i.The award is in recognition of her outstanding achievements and contributions in the fields of business and industry, science, medicine, arts and culture, both nationally and internationally.
ii.In 2006, Dr Swati Piramal was honoured with Chevalier de l’Ordre National du Merite (Knight of the Order of Merit), France’s second-highest civilian honour.
The Legion of Honour award:

• It was created by Napoleon Bonaparte in 1802.
• It is conferred by the French Republic for outstanding service to France, regardless of the nationality of the recipients, and the President of France is the Grand Master of the Order of the Legion of Honour.

About Dr Swati Piramal:
i.She is an Indian scientist and industrialist, and is involved in healthcare, focusing on public health and innovation.
ii.She is the vice chairperson of Piramal Group, a business conglomerate with interests in pharmaceuticals, financial services, real estate and glass packaging.
iii.She also served as Member of the Prime Minister of India’s Trade Advisory Council and the Scientific Advisory Council. Currently she is working on the Harvard Global Advisory Council.
Award:
Padma Shri award (2012) for her contribution to the science and technology business.

MoS Jitendra Singh presents INSPIRE Awards – MANAK to 60 startups

Union Minister of State (MoS) for Science & Technology, Jitendra Singh presented INSPIRE (Innovation in Science Pursuit for Inspired Research)  awards – MANAK (Million Minds Augmenting National Aspirations and Knowledge) to 60 startups and financial support to 53,021 students.

• The award is instituted by the Department of Science & Technology (DST).
• According to Minister Jitendra Singh, in 2020-2021, the annual INSPIRE Awards–MANAK competition attracted 6.53 Lakh unique ideas and innovations from all States and Union Territories (UTs) of the country.

Key Highlights:
i.Out of 6.53 lakh, a total of 53,021 students were identified for financial support of Rs 10,000 each to develop their prototypes and these innovators will be extended complete incubation support for their entrepreneurship journey.
ii.556 students have made it to the 9th National Level Exhibition and Project Competition (NLEPC) as scientists, researchers, scholars, and an overall group of Science & Technology.
iii. In India, out of 766 districts, 702 districts have represented the ideas and innovations in the INSPIRE Awards–MANAK scheme.
About INSPIRE Awards – MANAK:
i.The INSPIRE Awards – MANAK,  a flagship scheme of the country is jointly implemented by the Department of Science & Technology (DST) with the National Innovation Foundation – India (NIF).
ii.It aims to motivate students in the age group of 10-15 years and studying in classes 6 to 10.
iii.Objective – The aim of MANAK is to target one million original ideas/innovations rooted in science and societal applications to foster a culture of creativity and innovative thinking among school children.

APPOINTMENTS & RESIGNATIONS

Swedish PM Magdalena Andersson resigns after Right-wing parties win Swedish election

On 15th September 2022, Prime Minister (PM) of Sweden, Magdalena Andersson, leader of Social Democratic Party, resigned from the post after her centre-left bloc lost the 2022 Parliamentary Elections to a bloc of right-wing parties, 176 seats to 173.  The Elections were held on 11th September 2022.

• Magdalena Andersson was Sweden’s first female PM.

Note: The right-wing bloc includes a nationalist, anti-immigration party (Moderate Party).
Key points:
i.The resignation was formally submitted to Andreas Norlen, Speaker of Sweden’s parliament.  She will continue in a caretaking capacity until a new government is formed.
ii.Ulf Kristersson, Sweden’s Moderate Party leader, is likely to form a new government in Sweden.
iii.Magdalena Andersson is a 55-year-old Swedish politician and economist who has served as Prime Minister of Sweden and leader of the Swedish Social Democratic Party since 2021.
About Magdalena Andersson:
Magdalena Andersson was elected as the Prime Minister (PM) of Sweden in 2021. She served as leader of the Swedish Social Democratic Party.
About  Sweden’s Parliament (Riksdag):

• The Riksdag has 349 members who are elected every four years.
• The newly elected members of the Riksdag for the 2022–2026 electoral period will take their seats on 26 September 2022.

About Sweden:
Capital-Stockholm
Currency- Swedish krona

CSB Bank appoints Pralay Mondal as MD & CEO with effect from September 15CSB bank limited, formerly known as Catholic Syrian Bank Limited, has appointed Pralay Mondal, as the Managing Director (MD) & Chief Executive Officer (CEO) of the bank for a period of 3 years with effect from 15th September 2022.

• The board of directors of the bank approved the appointment following the approval received from the Reserve Bank of India(RBI).
• He has been serving as the Deputy MD of CSB Bank since February 2022 and later he was appointed as interim MD & CEO of the bank with effect from April 2022.

About Pralay Mondal:
i.Pralay Mondal joined the CSB bank as president, retail, SME, operations and IT on September 2020 and was appointed as the Deputy Managing Director of the Bank with effect from February 2022.
ii.Before joining CSB bank, he served as the senior group president and head of retail banking & business banking at Yes Bank and as Executive director and head of retail banking at Axis Bank.
iii. He has previously worked with HDFC Bank, Standard Chartered Bank, Wipro InfoTech and Colgate Palmolive.
vi.He has around 30 years of banking experience across multiple businesses and functions including retail assets, retail liabilities, business banking, products and technology.

GoI Appoints Thomas M Devasia as Member of IRDAI 

The government of India(GoI) has appointed Thomas M Devasia, technical expert at Marsh Insurance Brokers India(Kochi, Kerala), as a member (non-life) in the Insurance Regulatory and Development Authority of India (IRDAI) with effect from the date of assumption of charge of the post till attaining the age of 62 years until further order, whichever is earlier.

• He is appointed on a consolidated pay package of Rs 4 lakh.

Key Points:
This is the first time that the Government has appointed a senior executive from the private sector as a member of IRDAI.
This first-of-its-kind appointment from the private sector marks the departure of the tradition of hiring people from public sector insurance companies as members.
About Insurance Regulatory and Development Authority of India (IRDAI):
IRDAI is formed under the IRDAI, Act 1999 on the recommendation of the Malhotra Committee.
Chairperson – Debasish Panda
Establishment – 1999 (Incorporated on 1st April 2000)
Headquarters – Hyderabad, Telangana

ACQUISITIONS & MERGERS

SBI acquire balance stake in SBI Global Factors from SIDBI, BoM & UBI

On 16 September 2022, State Bank of India(SBI) acquired the 13.82% stake of State Bank of India Global Factors Ltd (SBIGFL) from its existing shareholders Small Industries Development Bank of India (SIDBI) 6.53%; Bank of Maharashtra (BoM); 4.34%; and Union Bank of India  (UBI) 2.95%.

• Following this acquisition, SBIGFL became a wholly owned subsidiary of SBI.
• This transaction entails a cash consideration of RS 67.84 crore.
• Prior to this acquisition, SBI held an 86.18% stake in SBIGFL.

Key points:
i.The decision was taken in a meeting of the Executive Committee of the Central Board (ECCB) of SBI on 29 March 2022.
ii.The approval for the acquisition of shares and change of control in management was given by the Reserve Bank of India (RBI).
iii.SBIGFL, a subsidiary of SBI,  is a non-banking financial company. It provides domestic and export factoring services.
About State Bank of India (SBI):
Chairman- Dinesh Kumar Khara
Founded- 1955
Headquarters- Mumbai, Maharashtra

Adani Group acquires Ambuja Cements & ACC; becomes India’s 2nd largest cement maker

On 16th September 2022, the Adani groups successfully completed the acquisition of Ambuja Cements Limited and ACC Limited through Endeavour Trade and Investment Limited (BidCo), a special purpose vehicle incorporated by the Adani groups.

• With this acquisition, Adani has now become India’s 2nd largest cement manufacturer.

Note: At present, Ultratech Cement is the largest player with a market valuation of over Rs 1.87 lakh crore.
About the acquisition:
i.Adani Group has acquired Switzerland-based Holcim’s 63.1% stake in Ambuja Cements, which owns a 50.05% along with its 4.48% direct stake in ACC.

• The cash proceeds aggregated to USD 6.4 billion(~RS 51000 crore) for Holcim.

ii.The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per Securities and Exchange Board of India(SEBI) Regulations.
iii.The Holcim-Adani deal was completed by way of the transfer of 100% shareholding of Holderind Investments to Endeavour Trade and Investment in both Ambuja and ACC.

• Mauritius-based Holderind is the holding company of Holcim.

Key highlights:
i.This is the largest ever acquisition by Adani, and also India’s largest merger and acquisition (M&A) transaction in the infrastructure and materials space.
ii.After the acquisition, Adani will hold 63.15 per cent in Ambuja Cements and 56.69 per cent in ACC (out of which 50.05 per cent is held through Ambuja Cements).
Note – Currently, Ambuja Cements and ACC have a combined installed production capacity of 67.5 Million Tonnes Per Annum(MTPA).

SPORTS

Winner of 20 Grand Slams, Swiss Player Roger Federer announces Retirement from Professional Tennis

A Professional Tennis Player from Switzerland, Roger Federer has announced his retirement from the ATP (Association of Tennis Professionals) Tour and Grand Slams at the age of 41.

• The 5th Laver Cup 2022 from September 23-25 that will be held at The O2 in London, United Kingdom (UK) will be his final appearance on the ATP circuit.
• The key reason behind his retirement was a series of injuries.

Key Achievements of Roger Federer:
i.He played a total matches of 1,526, and won 1,251, 2nd in the Open Era behind United States’ (US) Jimmy Connors (1274)
ii.He has won 20 Grand Slam victories, and finished 5 seasons ranked No.1. His victories include- the Australian Open six times, the French Open once, the US Open five times, and Wimbledon, a record eight times (2003, 2004, 2005, 2006, 2007, 2009, 2012 and 2017).
iii.His 20 Grand Slam titles are 3rd highest behind Spain’s Rafael Nadal (22), and Serbia’s Novak Djokovic (21).
iv.He also won the most Grand Slams Men’s singles main matches (369) in the Open Era.
v.He is a winner of 103 ATP titles, the second most in the Open era behind only Jimmy Connors (109).
vi.He holds the record of becoming the oldest ever world No. 1 at age 36 years, 320 days and remaining at the top of the rankings for a record 237 consecutive weeks.

• He is also the oldest men’s player to win Wimbledon in 2017 at the age of 35 years, 342 days.

vii.He is the only player to reach the finals of 4 slams in a season thrice (2006, 2007, 2009).
viii.He is the only men’s player to win at least 10 titles on clay, grass, and hard courts.

Indian Chess Players Win Titles at World Youth Chess Championship in Romania

India’s Pranav Anand (Karnataka) won the Under-16(Open) title and A R Ilamparthi (Tamil Nadu)  won the Under 14 (Open) title at the World Youth Chess Championship 2022 held in Mamaia, România.

• The tournament was organised by Romanian Chess Federation & Fédération Internationale des Échecs (FIDE). 

Key highlights:
i.The 76th Grandmaster, Pranav Anand scored 9 points from 11 rounds to emerge as winner by beating Augustin Droin of France.
ii.In the under-14 category, A R Ilamparthi won the championship by scoring 9.5 points from 11 rounds.
iii.Among the girls, Mrittika Mallick finished 4th in the girls Under-14 category with 8 points for 11; Anupam M Sreekumar secured 7th and H G Pragnya finished at 8th place.
iv.In the girls Under-18 event, S Kanishka secured 6th place with 7.5 points and Rakshitta ravi finished 8th.
Positions of the Indian Players:

BOOKS & AUTHORS

Former President Ram Nath Kovind released Book ‘Ambedkar and Modi: Reformer’s Ideas Performer’s Implementation’

Former President of India Ram Nath Kovind released a book titled ‘Ambedkar and Modi: Reformer’s Ideas Performer’s Implementation’ which illustrates the life, works and achievements of Dr. B.R Ambedkar. The book was compiled by Bluekraft Digital Foundation and the foreword was written by music composer and Rajya Sabha MP (Member of Parliament) Ilaiyaraaja.
The book is published by Prabhat Prakashan Pvt. Ltd.

• It also highlights the policies and reforms made by Prime Minister Narendra Modi to ensure India’s progress in line with Dr. Babasaheb Ambedkar’s vision.
• Specific focus was laid on infrastructure, education, socio-economic mobility, gender equality, and self-reliance.

IMPORTANT DAYS

World Patient Safety Day 2022 – 17 September

World Health Organization’s (WHOs) World Patient Safety Day is annually observed across the world on 17 September to create awareness about various preventative measures which should be taken to make sure safety of patients.

• The theme of World Patient Safety Day 2022 is ‘Medication Safety’ along with the slogan ‘Medication Without Harm’.
• This theme has been chosen to specifically draw attention to the need to improve systems to support safe medication and address unsafe practices.

About World Health Organization (WHO):
Director-General- Tedros Adhanom Ghebreyesus of Ethiopia.
Headquartered- Geneva, Switzerland.
Establishment- 1948.
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STATE NEWS

GoI & Assam Govt Signs Tripartite Peace Accord with Eight Tribal Militant Groups

On 15th September 2022 Government of India (GoI) and Assam government signed a tripartite peace accord with 8 tribal militant groups of Assam, in the presence of Amit Shah, Union Ministry of Home Affairs (MHA) for bringing peace in the areas.

• Chief minister (CM) Himanta Biswa Sarma signed the peace accord on behalf of the Assam government and Amit shah signed on behalf of GoI.
• The accord was signed 10 years after the peace process that started in 2012. The Peace Deal was considered to be the another milestone to make Northeast region extremism free by 2025.
• A special development package of Rs 1,000 crore will be provided to improve the tribal areas of Assam.

Militant groups:
The 8 tribal militant groups include Birsa Commando Force (BCF), Adivasi People’s Army (APA), All Adivasi National Liberation Army (AANLA), Adivasi Cobra Military of Assam (ACMA) and Santhali Tiger Force (STF) and the remaining 3 outfits are splinter groups of BCF, AANLA and ACMA.

• These 8 tribal militant groups have been on ceasefire since 2012 and are living in designated camps.

Highlights:
i.All militant groups except the United Liberation Front of Asom (ULFA) and Kamatapur Liberation Organization signed peace treaties with the government.
ii.In January 2020, Bodo representatives signed an agreement with GoI and the Assam government to end the 50-year-old Bodo crisis.
iii.In January 2022, at the arms-laying ceremonial function in Srimanta Sankardev Kalakshetra in Guwahati, 169 insurgents of the United Gorkha People’s Organisation (UGPO) and 77 insurgents of the Tiwa Liberation Army (TLA) laid down their arms.

• The arms were laid before Assam CM Himanta Biswa Sarma, Assam Direct General of Police (DGP) Bhaskar Jyoti Mahanta, Chief Executive Member of BTR Pramod Boro, CEM TAC Jibon Chandra Konwar.

Delhi & Punjab Govt. tied up to curb stubble burning through Pusa Bio-decomposer

The Government of Delhi partnered with the Government of Punjab to use Pusa bio-decomposer, a microbial solution which can decompose paddy straw in 15 to 20 days, on 5,000 acres of land to prevent stubble burning.
Stubble burning is a major cause of air pollution in the northern region of India.

• As a part of a pilot project implemented with the help of the Indian Agricultural Research Institute (IARI), Pusa biodecomposer will be sprayed over 5000 acres (2023 hectares) on stubble by which the crop residue gets mixed in the soil in Punjab.
• The Delhi government will use the Pusa bio-decomposer in the outer areas on agricultural land.
• According to the IARI, Punjab had reported 71,304 farm fires between September 15 and November 30 in 2021 and 83,002 farm fires in the corresponding period in 2020.

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• List of Current Governors in India – AUGUST 2022
• List of Current Chief Ministers in India – AUGUST 2022

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