Current Affairs 21 July 2022

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NATIONAL AFFAIRS

Himachal Pradesh becomes 1st Indian state to connect all registered commercial vehicles equipped with VLTD with ERSS

Himachal Pradesh(HP) has become the first Indian state to connect all registered commercial vehicles equipped with Vehicle Location Tracking Device (VLTD) with Emergency Response Support System (ERSS).

• The system was inaugurated by the Chief Minister (CM) of Himachal Pradesh (HP) Jai Ram Thakur at a program organized at Peterhof, in Shimla (HP).
• He also introduced the facility of panic button for the safety of women and children in public vehicles.

Key Points:
i.These vehicles can be tracked anywhere in India through VLTD.
ii.More than 9,423 vehicles have been registered and linked with ERSS. Now it will be monitored by both the police and the transport department to detect the theft of vehicles, accidents, and for the safety of women and children in the State.
iii.The Vehicle Location Tracking Device with Emergency Panic Button System and Command Control Center has been connected with Emergency Response Support System 112.

• When the panic button is pressed, a signal would be received through satellite to 112 and the person in distress would be connected and alert the police.

Background:
The Transport Department has made the installation of vehicle location tracking device and panic button mandatory for registration of commercial vehicles after instructions were issued by the Central Government in 2017 in the aftermath of the Nirbhaya case.
About Emergency Response Support System (ERSS):
It is a Government of India (GoI) initiative to integrate an emergency response system with a single emergency number 112, to address different emergencies of citizens.  ERSS address all emergency signals received from citizens through voice call, SMS, e-mail, panic SOS signal, ERSS web portal etc.

• A mobile App called ‘112 India’ is introduced by Govt. of India, to quickly raise a request for help when a person is in emergency, by pressing a button to send alert messages with location data and make emergency call to 112.
• Previous emergency numbers like 100 (police), 101 (Fire and Rescue) and 108 (ambulance), 181 (Woman and Child Care) etc. are integrated with the unified number 112.

First ever ‘Artificial Intelligence in Defence’ Exhibition & Symposium 2022: Union Defence Minister Rajnath Singh Launches 75 AI-Enabled Military Products

On July 11, 2022, the Union Minister Rajnath Singh, Ministry of Defence (MoD), launched 75 newly-developed defence products powered by Artificial Intelligence (AI) technologies during the first-ever “Artificial Intelligence in Defence” (AIDef) Symposium and Exhibition 2022, organized by the Department of Defence Production, MoD, in New Delhi, Delhi.

• Due to their dual-purpose applications, the products would create new business prospects and showcase India as a global hub for AI.

Rajnath Singh also unveiled the physical and e-version of the book containing information on these 75 products, showcasing the combined efforts made in the last four years by the Services, Innovations for Defence Excellence (iDEX) start-ups, DPSUs, DRDO, and the private sector in the field of AI.

• In accordance with the MoD’s objective of achieving Rs. 35,000 crore in defence exports by 2025 and boosting domestic industry, the ‘Raksha Niryat Ratna’ 2020-21 awards were conferred on two firms.

Rajnath Singh has also felicitated the top three students in the ‘GenNext AI’ Solutions Competition, which was held to explore bright, innovative ideas for futuristic AI solutions.
About Ministry of Defence (MoD):
Union Minister – Rajnath Singh (Lucknow Constituency, Uttar Pradesh)
Minister of State (MoS) – Ajay Bhatt
>> Read Full News

India Bioeconomy Report 2022: India’s Bioeconomy Likely to Reach $300 billion in 2030

According to the Biotechnology Industry Research Assistance Council’s (BIRAC) report titled, India BioEconomy Report 2022, India’s bioeconomy is likely to touch USD 150 billion by 2025 and over USD 300 billion by 2030.

• The report was released by the Union Minister of State(MoS) (Independent Charge) Science & Technology(S&T), Jitendra Singh.
• He also launched a special Biotech Ignition Grant call for North East Region (BIG-NER) with the financial support of up to Rs 50 Lakhs each to 25 startups and entrepreneurs from NER to develop biotech solutions.
• India’s BioEconomy has the potential to reach $270-300 Billion by year 2030 and account for nearly 3.3-3.5 % share of India’s GDP from the 2.8 percent share in 2021. 
• This report has been prepared for “Make In India Facilitation Cell for Biotechnology” of Biotechnology Industry Research Assistance Council (BIRAC) by Association of Biotechnology Led Enterprises (ABLE).

Highlights:
i.As per the report, India’s bioeconomy has reached over USD 80 billion in 2021, calculating a growth of 14.1 percent to USD 70.2 billion in 2020.

• India generated USD 219 million of bioeconomy on a daily basis, adding up to USD 80.12 billion in 2021.

ii.The Biotech Start-ups in India have increased from 50 to over 5,300 in the last 10 years and on an average, in 2021 at least 3 biotech startups have been incorporated everyday that reaches to 1,128 until now and will raise 2 times, to more than 10,000 by 2025.
iii.India is among the top 3 countries of South Asia and top 12 destinations for bio technology in the world by holding around 3 percent share in the global biotechnology industry.

• India also has the 2nd highest number of USFDA approved manufacturing plants outside the United States (US).

Sector Wise report:
i.Bio fuel – The sector has shown 2 times growth and the target year for 20 percent ethanol blending has been changed from 2025 to 2023.

• In 2021, the ethanol production has been doubled from 3.3 billion litre to 6.5 billion litres which would directly impact India’s forex reserves and Export-Import balance.

ii.Agriculture – This sector gets its scope on BT cotton, biopesticides, biostimulants and biofertilizers that contributes to about USD 10.48 billion in 2021 for the biotech sector.
iii.Medicine – The biotech sector has also been a solution for various purposes including vaccines, diagnostics, therapeutics and for the development and manufacturing of Covid-19 vaccines, BioPharma companies have been supported by Department of Biotechnology (DBT) and Biotechnology Industry Research association Council (BIRAC) with risk-funding of about USD 71 Million.

• In 2021 BioPharma Industry tripled its R & D spending to nearly USD 1 billion from USD 360 million in 2020 with 3 times increased manufacturing capacity from 1300 Million doses in 2020 to 4500 Million doses in 2021.

iv.The BIRAC and DBT has established a network of 74 specialised bio-incubation centres in 21 states and Union Territories and 7 bio-incubators in the NER.

• In June 2022 the 1st National Biotech Start-up Expo 2022 was conducted which was organised by DBT and BIRAC.

INTERNATIONAL AFFAIRS

Henley Passport Index 2022: Japan Ranked First, While India Ranked 87thAccording to the “Henley Passport Index 2022” released by Henley & Partners, an immigration consultancy based in London, United Kingdom(UK), India’s passport ranked number 87 and grants visa-free access to 60 countries, including Macau, Bhutan, Nepal, and Indonesia. Japan has topped the index followed by Singapore and South Korea in the 2nd rank.

• The Japanese passport, the world’s most powerful passport, grants hassle-free access into 193 countries.
• The Second place is shared by Singapore and South Korea with access to 192 nations.
• This is a shift from the pre-pandemic ranks, which were dominated by European countries.

India, along with Mauritius and Tajikistan, has been ranked 87th ranked and grants visa-free access to 60 countries.
According to the Henley Passport Index 2022, Pakistan’s passport is the fourth-worst in the world, one rank below Yemen and three ranks above Iraq, Syria, and Afghanistan.
About Japan:
Prime Minister – Fumio Kishida
Capital– Tokyo
>> Read Full News

BANKING & FINANCE

Standard Chartered Bank, EaseMyTrip launches Co-Branded Credit CardOn July 19, 2022, Standard Chartered Bank launched a co-branded credit card namely ‘EaseMyTrip Standard Chartered Credit Card’ with online travel platform EaseMyTrip.

• The credit card will provide a flat 20% instant discount on domestic and international hotel bookings with EaseMyTrip of up to Rs 5,000 and Rs 10,000 respectively with no minimum booking amount.
• There will also be a flat 10% instant discount on domestic and international flight bookings on EaseMyTrip up to Rs 1000 and Rs 5000 respectively with no minimum booking amount.

Key Features of Card:
i.Cardholders can earn reward points on flight, hotel bookings at standalone airlines and hotel websites and apps.
ii.These reward points can be redeemed on the rewards catalogue of Standard Chartered Bank.
iii.Cardholders will also have access to instant discount benefits on flights and hotels throughout the year on the EaseMyTrip.
iv.They will also get one domestic lounge access per calendar quarter and two international lounge accesses per year.
Point to be noted:
The Bank has recently extended its sponsor agreement with Liverpool Football Club by 4 years i.e. till the end of 2026-27 season.

About Standard Chartered Bank

• Group Cheif Executive – Bill Winters
• Headquarters – London, United Kingdom
• CEO of Standard Chartered Bank India  – Zarin Daruwala

RBI stipulates 4-Tier Regulatory Structure for UCBs; Restricts 3 cooperative banks from Conducting Banking Activity

i.On July 19, 2022, the Reserve Bank of India (RBI) prescribed the four-tier regulatory structure with differentiated regulatory prescriptions for urban cooperative banks (UCBs) to strengthen their financial resilience, and to enhance their ability to fund their growth.
ii.RBI has stipulated a minimum net worth of Rs 2 crore for Tier-I UCBs operating in a single district and Rs 5 crore for all other UCBs of all tiers.
iii.The RBI in exercise of its powers conferred under subsection (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, imposed restrictions on the following three cooperative banks due to their poor liquidity position:
i.Nashik Zilla Girna Sahakari Bank Limited, Nashik (Maharashtra)
ii.Sri Mallikarjuna Pattana Sahakari Bank Niyamita, Maski (Karnataka)
iii.Raigad Sahakari Bank Limited, Mumbai (Maharashtra)

The differentiated regulatory approach was mainly recommended for key parameters such as net worth, Capital to Risk-weighted Assets Ratio (CRAR), branch expansion and exposure limits.

About Reserve Bank of India (RBI):
i.The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
ii.The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.
iii.Though originally privately owned, since its nationalization in 1949, the Reserve Bank is fully owned by the Government of India.
>> Read Full News

Bajaj Allianz Life Partners DBS Bank India to Offer Life Insurance Products

Bajaj Allianz Life Insurance Company Limited(Bajaj Alliance Life) and DBS Bank India, the wholly owned subsidiary of DBS Bank Limited, Singapore, have entered into a strategic partnership to offer a wide range of life insurance solutions to the customers of DBS Bank.

• The corporate agency agreement was signed by the Managing Director (MD) &  Chief Executive Officer (CEO) of Bajaj Allianz Life Insurance, Tarun Chugh and Prashant Joshi, MD & Head, Consumer Banking Group, DBS Bank India in Mumbai, Maharashtra.

Highlights:
i.Through the partnership, both sides aim to empower the customers to ‘live more and bank less’ by investing in life insurance products.
ii.As a part of this partnership, The new and existing customers from more than 500 branches of DBS bank can choose from Bajaj Allianz Life’s retail products including term, savings, retirement and investment products.
About Bajaj Allianz Life Insurance Company Limited:
The company is a partnership between Bajaj Finserv Limited and Allianz SE, one of the world’s leading asset managers and insurers.
MD & CEO – Tarun Chugh
Establishment – 2001
Headquarters – Pune, Maharashtra

ECONOMY & BUSINESS

FDI in R&D Sector in India Rises to USD 343.64 Million in 2021: MoCI

According to the Ministry of Commerce and Industry (MoCI), Foreign Direct Investment (FDI) inflows into India’s Research and Development (R & D) sector hiked to USD 343.64 million in Calendar Year (C.Y.) 2021, rising 516% from USD 55.77 million in C.Y. 2020.

• FDI is permitted in the R&D sector through a 100% automatic route, subject to applicable laws/regulations, security and other conditionalities.

The Indian government has made significant efforts to attract and promote R&D-intensive FDI to supplement domestic capital, technology, and skills for faster economic growth and development.
Key Statistics:
i. Karnataka is the Top FDI Equity recipient state in R&D during Y. 2021, followed by Telangana and Haryana.

• Telangana, Karnataka, Haryana, Andhra Pradesh, and Tamil Nadu showed growth of more than 250% in C.Y. 2021 compared to C.Y. 2020.

ii.Singapore is the Top investing country in R&D during C.Y. 2021, accounting for 40% of total FDI equity in R&D, followed by Germany (35%), and the United States of America (U.S.A) (11%).

• Furthermore, FDI Equity inflows from countries like Germany, Mauritius, France, Singapore, Oman, and the USA, increased by more than 200% compared to C.Y. 2020.

iii. Daimler Truck Innovation Center is the Top FDI Equity inflow recipient company in R&D during C.Y. 2021, accounting for 35% of total FDI Equity in R&D, followed by Aragen Life Sciences Private Limited (34%), and Stelis Biopharma Private Limited (21%).
Inferences
i. These trends represent a robust and growing R&D sector that will assist the economy by stimulating innovation and boosting productivity, resulting in higher economic growth.
ii.R&D is crucial to the development of a knowledge-based economy, which can lead the path for increased economic growth.
iii. FDI infuses long-term sustainable capital into the economy and, among other things, helps with technology transfer, the development of strategic sectors, greater innovation, competition, and employment generation.

AWARDS & RECOGNITIONS   

Michelle Poonawalla receives the coveted Shiromani Award

Artist and businesswoman, Michelle Poonawalla has received the Shiromani Award from Mr. G. P. Hinduja, the co-chairman of Hinduja Group, at Non-Resident Indians (NRI) World Summit 2022, United Kingdom for her contribution to the field of Art.
i.Michelle Poonawalla was also a speaker at the prestigious House of Lords, UK. In addition to Michelle Poonawalla, the Shiromani Award was also awarded to Shri Sadhu Bhramvihari, Lord Rami Ranger, Rita Hinduja Chhabria, Dr. Kamel Hothi OBE and Falguni Shane Peacock.
ii.The Shiromani Award was instituted in 1977 and has been bestowed on Mother Teresa, Chief Marshal Manekshaw, Raj Kapoor, Sunil Gavaskar, Sachin Tendulkar, Kapil Dev, PT Usha, Leander Paes, Vishwanathan Anand, The Dalai Lama, Jaya Bachchan and Asha Bhosle in the past.

SPORTS

Badminton: Perodua Malaysia Masters 2022: Indonesia’s Chico Wardoyo won Men’s Singles & S.Korea’s An Se Young won Women Singles

2022 Malaysia Masters, officially known as the Perodua Malaysia Masters 2022, a Badminton World Federation (BWF) World Tour Super 500 tournament, was held in Axiata Arena, Kuala Lumpur, Malaysia, from 5th to 10th July 2022. Indonesia’s shuttler Chico Aura Dwi Wardoyo won the 2022 Malaysia Masters Men’s Singles title defeating Hong Kong star Angus Ng Ka-long.
This marks Chico Aura Dwi Wardoyo’s first ever Badminton World Tour Super 500 title.

• South Korea’s An Se Young has won the Women’s Singles title defeating Tokyo 2020 Olympic champion Chen Yu Fei of China.

Petronas Malaysia Open 2022: Denmark’s Viktor Axelsen won Men’s Singles & Thailand’s Ratchanok Intanon won Women’s Singles
BWF World Tour Super 750 Badminton tournament, Petronas Malaysia Open 2022 was held in Axiata Arena, Kuala Lumpur, Malaysia from 28th June to 3rd July 2022.
World number one men’s singles shuttler Viktor Axelsen of Denmark won his maiden Petronas Malaysia Open 2022 title defeating Japan’s Kento Momota.

• Thailand’s Ratchanok Intanon won the Women’s Single title at Petronas Malaysia Open 2022 defeating Olympic badminton gold medallists Chen Yufei. This is her first title since 2020.

>> Read Full News

OBITUARY

Noted Scientist, Padma Shri Dr Ajay Parida, Director of ILS Passes Away

On 19th July 2022 Noted scientist Padma Shri Dr Ajay Kumar Parida (58 years old), Director of Institute of Life Sciences (ILS), Bhubaneswar(Odisha), passed away at Guwahati, Assam.
About Ajay Parida:
i.Ajay Parida was born in 1963 at Bhagabanpur village in Jajpur district, Odisha and an alumnus of Utkal University. He has done a PhD from Delhi University and Post-Doctoral Research from the University of Wales, United Kingdom (UK), University of Naples, Italy and International Rice Research Institute, Philippines.
ii.He has implemented various developmental projects that focus on sustainable development models in coastal and dry land regions.

• It is achieved through the identification of low water requiring genotypes, effective management of water resources and sound agriculture practice.

iii.His research mainly focused on the development of climate resilient crop varieties with abiotic stress tolerance and also made his contributions in identifying stress tolerant genes specifically for salt and drought stress using mangroves.
Contributions:
i.He was conferred with the Padma Shri award in 2014 for his contribution to the field of Science and Technology.
ii.He was also known for his contributions in the fields of agriculture, plant molecular biology and biotechnology.
Service:
i.He served as the Executive Director of the MS Swaminathan Research Foundation, Chennai, Tamil Nadu, during 2009-2016.
ii.He joined ILS in 2017 which is now a part of the Indian SARS-CoV-2 Genomics Consortium (INSACOG), jointly initiated by the Ministry of Health and Department of Biotechnology (DBT) to monitor the genomic variations in coronavirus.
iii.He is an elected Fellow of the National Academy of Agriculture Sciences (NAAS) and the National Academy of Sciences of India (NASI).

BOOKS & AUTHORS

Uttarakhand CM released a new book on its state Temples, written by Retd IAS

On 19th July 2022, Uttarakhand Chief Minister (CM) Pushkar Singh Dhami released a book titled ‘Beyond The Misty Veil, Temple Tales of Uttarakhand’ written by former IAS officer, Aradhana Johri.
The book is published by Prabhat Prakashan.

About the book:
The book remains an aesthetic introduction to the ancient temples of Uttarakhand, also known as Devabhoomi.

• This book will boost the religious tourism of Uttarakhand as it sums up the architecture, history, folklore and mythology associated with the temples of Uttarakhand.

About Aradhana Johri:
i.Aradhana Johri is a 1980 batch Indian Administrative Service (IAS) officer of Uttarakhand cadre.
ii.She has served for various profiles in the Government and lastly served in the cabinet secretary before retirement.

IMPORTANT DAYS

World Chess Day 2022 – July 20

The United Nations (UN)’s World Chess Day or International Chess Day is annually observed across the globe on 20th July to recognise the important role of chess as an affordable and inclusive activity.

• 20th July 2022, World Chess Day 2022 also marks the observance of the 98th anniversary of the International Chess Federation – Federation Internationale des Echecs (FIDE).

Background:
i.Since 1966, as an initiative of FIDE, the 20th July has been observed as International Chess Day by Chess players across the globe.
ii.On 12th December 2019, The United Nations General Assembly(UNGA) adopted the resolution A/RES/74/22 and proclaimed the 20th July of every year as World Chess Day.
iii.The first ever UN recognised World Chess Day was observed on 20th July 2020.
About  International Chess Federation(Federation Internationale des Echecs – FIDE):
President– Arkady Dvorkovich
Headquarters– Lausanne, Switzerland
>> Read Full News

World Paper Bag Day 2022 – July 12

World Paper Bag Day is annually observed across the globe on 12th July to create awareness about the importance of using paper bags and encourage the use of environment-friendly alternatives.

• The day also promotes the environmental benefits of adopting paper bags over plastic bags.
• The day highlights the harmful effects of plastic or single-use plastic bags on our environment.

The theme of World Paper Bag Day 2022 is “If You’re ‘Fantastic’, Do Something ‘Dramatic’ To Cut the ‘Plastic’, Use ‘Paper Bags’.”

Benefits of Paper Bags:
i.Paper bags are recyclable and the process of recycling doesn’t cause any pollution.
ii.In the case of plastic bags, the recycling process emits toxic and poisonous gas into the atmosphere.
iii.Paper bags are made of eco-friendly sources like sugarcane waste, straw, jute twine, coconut husks, elephant excreta etc. which are recyclable and biodegradable and do not promote deforestation.
History of Paper Bags:
i.Francis Wolle, an American inventor, invented and patented the first paper bag machine in 1852.
ii.In 1871, Margaret E. Knight (American inventor) invented the machine that could produce flat boxy bottom paper bags.
iii.Later in 1883, Charles Stilwell(American inventor) patented the machine which could make square-bottom paper bags with pleated sides. This made it easier to fold and store.
iv.This style of the bag came to be known as the S.O.S., or “Self-Opening Sack”.

STATE NEWS

Assam CM Launches Scheme for Welfare of Native Weavers – Swanirbhar Naari

On 19th July 2022,  Assam Chief Minister(CM) Himanta Biswas Sarma launched Swanirbhar Naari, a scheme to empower and financially support the indigenous weavers of Assam and their families.
Highlights:
i.Under the scheme, the Assam government will procure handloom items directly from the indigenous weavers through a specially developed Swanirbhar Nari web portal without the involvement of middlemen.

• 31 hand-woven textile items of various communities in Assam have been covered under this scheme.
• After procurement, products will be sold through government outlets such as Jagaran and Pragjyotika in Assam and in other states

ii.By ensuring an assured income for the weavers, the scheme will help in preserving the heritage of handlooms and textiles.
iii.It is expected that the portal will bridge the gap between the weavers and the buyers
About Assam:
Governor – Jagdish Mukhi
National Parks – Kaziranga National Park, Dibru – Saikhowa National Park
Wildlife sanctuaries – Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary

UP Govt Appoints Deloitte India as Consultant to Make UP a USD 1 Trillion Economy

On 19th July 2022, the government of Uttar Pradesh(UP) has decided to appoint Deloitte Touche Tohmatsu India Private Limited (Deloitte India) as a consultant to suggest plans to make the State a USD 1 trillion economy.
This decision follows the recommendations of a high-power committee at a cabinet meeting chaired by Yogi Adityanath, Chief Minister(CM) of UP.
Note: The role of Uttar Pradesh(UP), the most populous state in India, is important in achieving the goal of making India a USD 5 trillion economy.
Key Points:
i.The government of UP is working on preparing a sector-wise action plan to fulfil the goal of bringing the economy of Uttar Pradesh to 1 trillion US dollars.
ii.The consultant, Deloitte India, quoted a bid price of Rs 120 crore. (Boston Consulting Group and Grand Thorton were among the bidders)
Functions of the Consultant:
i.The consultant will provide the required mission and departmental reforms will be made accordingly.
ii.According to the Fresh Request for Proposal (RFP) document, the consultant will critically analyse the macro and micro-economic sectoral data around Gross State Domestic Product (GSDP), trade, investment, expenditure, savings, workforce participation, inflation, import & export, etc to identify the strengths and weaknesses of the state’s economy.
Background:
i.Considering the current global economic scenario and adopting the best practices of different countries, the need to engage the services of consultants was deemed necessary.
ii.Following this, it was decided to select the institution or consultants by adopting due process.
iii.On 15th March 2022, the tender for the selection of consultants was invited.

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