Current Affairs 21 May 2022

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Ministry of Finance Announces New Government Guarantee PolicyFinance Minister Smt. Nirmala Sitharaman chairs the 7th Annual Meeting of Board of Governors of NDB via video-conference

The Ministry of Finance (MoF) has announced a new Government Guarantee Policy (GGP), which replaces a 12-year-old policy and intends to incorporate all changes in General Financial Rules (GFR) and financial policies.
The need for a new GGP has become essential as the volume of sovereign guarantees undertaken during a financial year is capped under the Fiscal Responsibility and Budget Management (FRBM) Act of 2003.
How Does the Process Function?
i.The Ministries/Departments are required to submit an initial proposal using the designated portal and then send a physical copy to the budget division for processing.
ii.Through a guarantee portal, approval or disapproval will be communicated to Ministries and Departments. The Ministry or Department may enter into a guarantee agreement once it has been approved.
Categories Of Guarantees Provided by The Government
A government guarantee is usually issued in one of five categories.
Category 1: It covers principal and interest repayment guarantees provided to the RBI, other banks, and industrial and financial institutions; cash credit facilities; financing of seasonal agricultural operations; and/or supplying working capital to companies, corporations, cooperative societies, and banks.
About the Ministry of finance (MoF):
Union Minister of Finance – Nirmala Sitharaman (Rajya Sabha – Karnataka)
Departments under the MoF – Department of Expenditure; Department of Economic Affairs; Department of Revenue
>> Read Full News

Ministry of Railways Approves Collaboration with IIT-M on Hyperloop Technology & Sets up Gati Shakti Directorate  

The Ministry of Railways, Government of India has approved following initiatives –

  • Indian Institute of Technology, Madras and the Ministry of Railways collaborate on Hyperloop Technology. 
  • The Ministry of Railways set up the Gati Shakti Directorate for effective and time bound implementation of the PM GatiShakti National Master Plan (PMGS-NMP)

Ministry of Railways Approves Collaborative Project with IIT Madras on Hyperloop technology
The Ministry of Railways and Indian Institute of Technology, Madras (IIT-M) has entered into an Rs 8.34 crore collaborative project on Hyperloop Technology, proposing a high speed transportation system. The proposal was approved by Ashwini Vaishnaw, Union Minister for Railways, Communications, Electronics and Information Technology at IIT-M.
Key Points:
i.The Collaboration is made after the submission of the research proposal by IIT-M to indigenously develop and validate Hyperloop technology based transportation systems and its subsystems.
ii.The collaboration also involves setting up a Centre for Excellence for Hyperloop Technology at IIT-M.
iii.At the IIT-M, a team of students, Team Avishkar Hyperloop is working on the emerging domain of Hyperloop-based transportation solutions for a futuristic commuting experience. 
iv.Team Avishkar aims to build the world’s largest student-developed Hyperloop testing facility at IIT Madras and is hoping to complete the construction of this 500-metre long Hyperloop facility at Discovery Campus, the Satellite campus of IIT Madras by the end of 2022.
iv.The model proposed by Team Avishkar can achieve a top speed of over 1,200 kilometres per hour.
Hyperloop is the 5th mode of transportation, a high-speed train that travels in a near vacuum tube. The reduced air resistance allows the capsule inside the tube to reach speeds of more than 1,000 km/h.
Railway Ministry Sets up Gati Shakti Directorate to Implement Projects Under PM Gati shakti
The Ministry of Railways has set up Gati Shakti Directorate in order to implement the PM Gati Shakti Initiative in a focused and time bound manner. Also at Division level a new Gati Shakti Cell headed by Divisional Railway Manager (DRMs) will be set up in strategic locations such as Delhi, Bangalore, Bilaspur, and Khurda to streamline the initiatives.

  • With this the number of such directorates has now increased to 25.

About the Directorate:
i.The directorate will be responsible for planning and prioritising projects related to the Gati Shakti Scheme for examining and conducting surveys and project reports.
ii.The Gati Shakti Directorate will be headed by an Additional-member rank official and comprises six executive directors of different departments like traffic, civil, electrical, signalling and telecom, finance, and security. 
iii.Also it will have a Director-rank economic advisor from the Indian Economic Service and a  director-rank official from Railway Protection Force (RPF) would be the head of the security department.
Project Approval Gati Shakti Scheme:
i.Projects upto Rs 100 Crore will get approval from Member, Finance and will be finally approved by the Chairman and CEO of the Railway Board.
ii.Projects worth more than Rs 100 crore and up to Rs 500 crore will get approval from Member Finance and will be finally approved by the Ministry of Railways after the recommendation of the Railway Board. 
iii.The projects worth more than Rs 500 crore and up to Rs 1000 crore will get approval from Member Finance and will finally be approved by the Ministry of Railways. 
iv.The Projects, more than Rs 1,000 crore will get approval from the Member, Finance and will be approved by the Cabinet Committee on Economic Affairs.
About PM GatiShakti National Master Plan (PMGS-NMP):
i.The PMGS-NMP, was launched on October 13 2021, envisages multi-modal connectivity with close coordination of various ministries, including the Railways, Waterways and Roadways, together for integrated planning and coordinated implementation of infrastructure connectivity projects.
ii.The aim of the scheme is to provide integrated and seamless connectivity for the movement of people, goods and services from one mode of transport to another. 

GeM & SEWA Signed MoU to Engage Last Mile Women-led Enterprises as Sellers and Service Providers on GeM

On May 19 2022, a Memorandum of Understanding (MoU) was signed between the Government e-Marketplace (GeM) and Self Employed Women’s Association (SEWA) in New Delhi, Delhi, for the advocacy, outreach, mobilisation and capacity building of last mile women led Micro and Small Enterprises (MSE), women entrepreneurs, Self Help Groups (SHGs), Associations, Cooperatives, Collectives, not-for-profit Section 8 companies and various Voluntary Organisations (VO) as sellers and service providers in public procurement via GeM portal.
The MoU was signed between Prashant Kumar Singh, Chief Executive Officer, GeM, and Rehana Riyawala, Vice-President, SEWA.
About the MoU:
i.Under the MoU, GeM will train SEWA members to assist and enable women led enterprises, organisations with GeM processes related to seller registration and on-boarding the platform, upload or update of product, service catalogues, acceptance of orders, participation in bids floated by Government buyers, fulfilment of orders and invoice generation to receive payments directly into their bank accounts through the unified online national public procurement platform.
ii.The GeM, in consultation with SEWA, will develop Vernacular language based training curriculum in print and digital media for women entrepreneurs and SHGs.
iii.The training sessions will be conducted through in-person and virtual training modes
 for SEWA members in district and block level, who in turn will train last-mile women entrepreneurs and SHGs with various buyer and seller functionalities on the GeM portal.
iv.The MoU will align the untapped entrepreneurial energy of last-mile producers and service providers in rural India with local government buyers. 
v.This Social and Economic inclusion of last mile women-led MSE entreprises from the informal sector in public procurement will lead to integration of local value-chains through “Vocal for Local” and “Make in India” initiatives of the Government, thereby furthering the aim of ensuring a self-reliant “AtmaNirbhar Bharat”.
Measures taken by GeM for Promoting Women entrepreneurship:
i.The GeM through its GeM Outlet Stores and GeM Sahay application has addressed the twin challenges of ‘access to markets’ and ‘access to finance‘ respectively.
ii.It also introduced marketplace filters and icons on product display pages for Women MSE entrepreneurs to help the government meet the 3 percent procurement target set aside for women-led MSEs in accordance with the Public Procurement Policy for MSEs (PPP-MSE). 
iii.Further, GeM has created 200+ handicraft, handloom and office accessories product categories, along with 8 dedicated outlet stores to showcase and promote products made by women entrepreneurs from the informal sector. 
iv.The Creation of “Stitching and tailoring”, “canteen and catering”, “housekeeping” service categories tailored to generate employment and business opportunities for women in urban and rural areas are also available on the portal.
i.Presently, 1.31 lakh plus women SMEentrepreneurs are registered on the GeM portal and they have fulfilled approx. 5.7 lakh plus orders worth Rs 10,752 Crore in gross merchandise value.
About Government e Marketplace (GeM):
i.GeM is a Section 8, not for Profit Company, under the administrative control of the Department of Commerce, Ministry of Commerce and Industry. 
ii.It is an online platform for public procurement in India
Chief Executive Officer – Prashant Kumar Singh
Nodal Ministry – Ministry of Commerce and Industry, Government of India
About Self-Employed Women’s Association (SEWA):
i.SEWA is the premier Women’s organisation in India that aligns women organisations with Government programs, facilitating market linkages for informal women workers to develop their livelihoods and strengthening collective bargaining power through new livelihood opportunities.
Headquarters – Ahmedabad, Gujarat

CBSE supports Tourism Ministry’s initiative to establish YUVA Tourism Club

The Central Board of Secondary Education(CBSE) has instructed all the CBSE affiliated schools to form Yuva Tourism Club. The Ministry of Tourism initiated the establishment of the ‘YUVA Tourism Clubs’, as part of the ‘Azadi ka Amrit Mahotsav’ celebrations, to promote the national integration and the spirit of Ek Bharat Shreshtha Bharat.
These clubs are expected to facilitate the development of soft skills like teamwork, management, and leadership besides encouraging the adoption of responsible tourism practices and concern for sustainable tourism.

DoT Abolishes NOCC Charges for All Telecom Licence Holders

The Department of Telecommunications (DoT), under the Ministry of Communications, has abolished the Network Operation and Control Centre (NOCC) charges that are levied on the use of space segments by telecom service providers for satellite telephony, broadband, and others. 

  • The NOCC was introduced in 2003 and the DoT levied Rs 21 lakh per transponder every year for 36 MHz of spectrum on a pro-rata basis.
  • The Government of India has also charged Rs 6000 for every trial of antenna that is used for receiving and transmitting signals.


73.9mn Indians at Risk of Suffering from Increased Hunger Level by 2030: IFPRI’s GFPR 2022

i.The International Food Policy Research Institute (IFPRI) released ‘Global Food Policy Report (GFPR) 2022- Climate Change & Food Systems’ stating the number of Indians at risk from hunger is expected to be 73.9 million by 2030 i.e. an increase by 23%; and 45 million by 2050. With Climate Change (CC) effect, this number will change to 90.6 million in 2030, and 44.9 in 2050.
ii.Globally 593.3 million people at risk of hunger by 2030 with CC as a factor, and 478.7 million by 2050.
iii.In the 2021 Global Hunger Index, India ranked 101 out of the 116 countries with a score of 27.5 (serious).
iv.Projections show yields of India’s crops falling by 1.8 to 6.6% by mid-century (2041–2060) and by 7.2 to 23.6% by end-century (2061–2080).
About International Food Policy Research Institute (IFPRI):
Director General– Johan Swinnen
Headquarter– Washington, DC, United States
>> Read Full News

NatGeo installed World’s Highest Weather Station on Mt. Everest; China Flies Airship Over Mount Everest to Study Atmospheric Composition

In order to study the changing weather phenomena in the Mount (Mt) Everest, following Expeditions have made –

  • The National Geographic Society has installed the World’s highest weather station on Mt Everest.
  • China flew an airship at record height over Mt Everest to gather Atmospheric Composition data and Water vapour transporting Phenomenon.

NatGeo Installed the World’s Highest Weather Station on Mt. Everest
The National Geographic Society has installed the ‘World’s highest weather station’ on Mount Everest at an altitude of 8,830 metres to automatically measure various meteorological phenomena. It was installed a few metres below the Summit point of 8,848.86 metres as the snow and ice on the summit are not suitable for fixing the equipment.

  • Nepal’s Department of Hydrology and Meteorology (DHM) and National Geographic Society signed a Memorandum of Understanding (MoU) to operate all five Automatic Weather Stations installed by NatGeo to provide near real-time information regarding mountain conditions.
  • Under the MoU, the National Geographic team will fully operate the stations till 2025 following which the technology will be transferred to the Nepal Government in 2026.

Key Points:
i.The National Geographic Society team was led by climate scientist Baker Perry from the Appalachian State University in the United States (US), accompanied by acclaimed climbers and scientists.
ii.The weather monitoring system measures various meteorological phenomena like air, temperature, wind speed and direction, air pressure, change in surface height of snow, and incoming and outgoing short and longwave radiations.
iii.The weather station is powered by Solar energy.
i.China has installed eight stations set up from 5,200 metres to 8,800 metres on Mt Everest, with four stations exceeding 7,000 metres at 7,028 metres, 7,790 metres, 8,300 metres, and 8,800 metres.
China Flies Airship at Record Altitude, Higher than Mount Everest
China has flown an airship named Jimu No.1 over Mt Everest at a record height of 9,032 metres in order to study the Atmospheric Composition Data and the Water vapour transporting process from the surface. 
About The Airship & its Expedition:
i.The Jimu No.1 airship weighs 2.625 tonnes with a volume of 9,060 cubic metres and the vehicle attached to the bottom of the airship weighs 90 tonnes. 
ii.It took off from the base camp at an altitude of 4,300 metres and flew over the peak at the speed of 30 metres per second.
iii.The airship recorded the atmosphere composition data such as information on black carbon, dust, carbon dioxide, and methane present in the environment. 
iv.Also Scientists are studying the water vapour transporting process from the surface to the altitude of 9000 metres.
v.The China’s ‘‘Earth Summit Mission 2022’’ expedition includes researchers from the Chinese Academy of Sciences, the Institute of Tibetan Plateau Research (ITP) and the Aerospace Information Research Institute, the Changchun Institute of Optics, Fine Mechanics and Physics (CIOMP).
i.China achieved this world record just days after completion of a high-altitude ozone observation campaign on Mt Everest, as a part of the second comprehensive scientific research project that was launched in 2017. 
ii.During the campaign, a dozen ozonesonde balloons were launched from the base camp that reached an altitude of 5,200 metres, while the highest balloon touched 39.1 km above the base camp.


NDB Issues CNY 7 billion Bond in China Interbank Bond Market

On May 18, 2022, the New Development Bank (NDB) issued a Chinese yuan (CNY) 7 billion bond (about USD 1.04 billion) in the China Interbank Bond Market with a 3-year maturity period.
This is the largest Panda Bond transaction ever issued by a Multilateral Development Bank (MDB).

  • Panda Bonds are bonds issued by international issuers denominated in Chinese yuan (CNY) and traded in mainland China’s domestic market.

Despite the unstable market conditions, the transaction attracted a large number of high-quality investors.
The scale of the transaction has established a new standard for high-quality international issuers, particularly MDBs, looking to extend their funding in the world’s second-largest bond market and largest local currency market.
Key Points:
i.The NDB will have issued a total of Renminbi (RMB) 30 billion bonds in the China Interbank Bond Market, under its RMB bond programmes, upon completion of the transaction, making it China’s largest and most successful MDB issuer.
ii.The net proceeds from the bond sale will be added to NDB’s onshore general corporate resources and utilised to finance infrastructure and sustainable development projects in the Bank’s member nations.
iii. The lead underwriter for the bond was the Bank of China (BOC). Joint-lead underwriters included the Industrial and Commercial Bank of China, the Agriculture Bank of China, China Construction Bank, China Development Bank, Postal Savings Bank of China, and China International Capital Corporation.
Renminbi (RMB) is the official currency of China, which means ‘people’s currency’.

  • The term ‘Renminbi’ refers to the name of the currency while ‘yuan’ refers to the basic unit of the Chinese currency.

Chinese yuan (CNY) is RMB that is traded on mainland China.
About New Development Bank (NDB):
The BRICS countries — Brazil, Russia, India, China, and South Africa – established the New Development Bank (NDB) to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries. All United Nations members are eligible to join the bank.
In 2021, the NDB began expanding its membership by welcoming the United Arab Emirates (UAE), Uruguay, Bangladesh, and Egypt as new members.
President – Marcos Troyjo
Establishment – 2015
Headquarters – Shanghai, China.

RBI imposes Rs 29.79 lakh Penalty on Unimoni Financial Services

The Reserve Bank of India(RBI) has imposed a penalty of Rs 29.79 lakhs on Unimoni Financial Services Limited for non-compliant with norms on Small-Prepaid Payment Instruments (PPI) requirements. 

  • RBI has issued a show-cause notice to Unimoni Financial Services and the penalty was imposed after considering the response of the company. 
  • RBI also stated that the penalty is based on deficiencies in regulatory compliance and it is not intended to pronounce upon the validity of any transactions or agreements entered into by the company with its customers. 

RBI imposes Penalty on Daimler Financial Services India, KKR India Financial Services

The Reserve Bank of India(RBI) has imposed a penalty of Rs 5 lakh each on Daimler Financial Services India and KKR India Financial Services for non-compliance with the RBI’s guidelines of ‘Monitoring of frauds in Non-Banking Financial Companies (NBFCs) (Reserve Bank) Directions, 2016’.

  • The penalty follows the statutory inspection conducted by RBI in both the companies concerning their financial position as of 31st March 2020.
  • During the inspection, RBI found out both the companies of non-compliance with the aforesaid Directions to the extended delay in reporting fraud to RBI through Fraud Monitoring Return (FMR)-1.


UN projects India to grow 6.4% in 2022: S&P cuts FY23 India growth forecast to 7.3% 

i.The United Nations Department of Economic and Social Affairs (UN-DESA) in its ‘World Economic Situation and Prospects (WESP) Mid-year Update 2022’ has declined India’s GDP (Gross Domestic Product) growth projections from 6.7% to 6.4% for 2022-23. 
ii.For 2023-24, 6% GDP growth forecasted for India as against 6.1%. In 2021, India economy grew at 8.8%.
iii.The growth outlook for South Asia is also downgraded by 0.4 percentage points to 5.5% in 2022.
iv.S&P Global Ratings in its Global Macro Update to Growth Forecasts also slashed India’s growth forecast to 7.3% from 7.8% for FY23 amid rising inflationary pressure and Russia-Ukraine war.
About United Nations Department of Economic and Social Affairs (UN-DESA):
Under-Secretary-General– Liu Zhenmin 
Headquarters– New York, United States (US)
>> Read Full News


Equitas SFB Managing Director & CEO Vasudevan To Step Down

Vasudevan Pathangi Narasimhan, Managing Director and CEO, Equitas Small Finance Bank headquartered at Chennai in Tamil Nadu, has decided to step down from his role in order to focus on the public charitable trust.
Key Information
i.Concerned Bank Board shall be forming a Search Committee shortly to undertake the process of identifying a successor to become next Managing Director and CEO.
ii.Till the successor is found, PN Vasudevan would officiate as MD & CEO of Equitas Small Finance Bank.
About Small Finance Bank (SFB) and Micro Financing Institution (MFI)


  • Small Finance Banks are the financial institutions which provide financial services to the unserved and unbanked region of the country. 
  • SFBs are registered as a public limited company under the Companies Act, 2013.


  • MFIs are financial companies that provide small loans to people who do not have any access to banking facilities. The definition of “small loans” varies between countries. In India, all loans that are below Rs.1 lakh can be considered as microloans.
  • MFIs in India are regulated by The Non-Banking Financial Company -Micro Finance Institutions (Reserve Bank) Directions, 2011 of the Reserve Bank of India (RBI).


China Plans World’s First Habitable Planet Search With Space Telescope

China plans for a space project to survey the sky through a space-borne telescope to hunt for habitable Earth-like planets outside the solar system, about 32 light-years from Earth.

  • The project, named Closeby Habitable Exoplanet Survey (CHES) would be the first space mission specially designed to search for habitable terrestrial planets around nearby Sun-like stars.

Key Facts
i.The CHES will observe about 100 Sun-like stars 32 light-years away on a long-term survey, and will hopefully discover roughly 50 Earth-like planets or super-Earths, planets that are up to about 10 times the mass of Earth.
ii. CHES will offer crucial clues to the issues such as other extra-terrestrial lifes and the planets becoming the cradle of life.
iii.5,000 exoplanets have been discovered and confirmed so far, including about 50 Earth-like planets in the habitable zone, but most of them are hundreds of light-years away from Earth.
Significance of this endeavour
i.The exploration of habitable planets outside the solar system is one of the key frontiers of fundamental research in astronomy.
ii.The discovery of the nearby habitable worlds will be a great breakthrough for humankind, and will also help humans visit those Earth twins and expand our living space in the future.


New Species Of Non-Venomous Snake ‘lenrul’ Discovered in Mizoram

Herpetologists in Mizoram have identified a new species of non-venomous snake near Murlen National Park in Champhai district of Mizoram.It was named lenrul”, meaning high-elevation snake in the Mizo language, is the only one of its kind in India found beyond 1,700 metres above the mean sea level.
Key Facts

i.The snake’s scientific name is Herpetoreas murlen.

  • Herpetoreas murlen – the only one of its species in India inhabiting areas beyond 1,700 metres above sea level, is named after the State’s Murlen National Park.

iii. The study was authored by Hmar Tlawmte Lalremsanga and Lal Biakzuala of Mizoram University’s Department of Zoology, Amit Kumar Bal of Amity Institute of Forestry and Wildlife, and Gernot Vogel of the Society for South East Asian Herpetology based in Germany’s Heidelberg.
iv.The snake was found in the areas dominated by pine trees, canes and a rich variety of orchids. It shared the habitat with at least 18 other types of reptiles.
v. H. murlen would be regarded as a data deficient species under the categorisation of the IUCN Red List of Threatened Species.
vii. Before lenrul, six species of Herpetoreas had been recognised – four of them in India and two in China. Three of the four in India were recorded from the Northeast and one from northern India.
New Species’s Distinctness
i.The 461 mm-long snake’s snout was found to be “modestly long”, with small nostrils and eyes.
ii.Found to be genetically closest to Herpetoreas burbrinki, its Chinese cousin, the new species has a dark olive-grey body, randomly-speckled scales with black on the margins, inter-scales speckled sparsely with white and a dorsolateral stripe extending from the neck to the tail.


Adani Group Acquires Franchise in UAE T20 League

Adani Sportsline, a subsidiary of the Adani group, has acquired the rights to own and operate a franchise in the six-member United Arab Emirates (UAE) T20 League. By acquiring the franchise, it becomes the fourth Indian group after Reliance Industries (RIL), Grandhi Mallikarjuna Rao (GMR) group and Capri Global. The tournament is likely to commence in June, 2022. The tournament consists of six-teams and a total of 34 matches will be played.

  • Adani will be the fifth franchise owner of the UAE T20 league, marking its first major foray into cricket overseas. 


World Metrology Day 2022 – 20th May 

World Metrology Day(WMD)  is annually observed across the globe on 20th May to create awareness about the Metrology, the science of measurement and its application. The day highlights the use of Metrology in scientific fields, innovation, industries, trading and other fields.
The day is an annual celebration of the singing of the Metre Convention on 20th May 1875.

  • The World Metrology Day is a joint project by Bureau International des Poids et Mesures(BIPM) International Organisation of Legal Metrology(OIML – Organisation Internationale de Métrologie Légale). 

The theme for World Metrology Day 2022 is “Metrology in the Digital Era”
About Bureau International des Poids et Mesures(BIPM) :
i.It is the international organization established by the Metre Convention, through which Member States act together on matters related to measurement science and measurement standards. 
ii.It is also the home of the International System of Units (SI) and the international reference time scale (UTC).
Member states– 63 Member States & 37 Associate States and Economies
Headquarters– Paris, France
>> Read Full News

World Inflammatory Bowel Disease Day 2022 – May 19 

World  Inflammatory Bowel Disease (IBD) Day is annually observed across the globe on 19th May to create awareness about the people who suffer from Crohn’s disease and ulcerative colitis, which are collectively known as Inflammatory Bowel Disease (IBD). 

  • The day is supported and coordinated by the European Federation of Crohn´s and Ulcerative Colitis Associations (EFCCA). 
  • The day is led by patient organisations representing more than 50 countries on 5 continents.
  • World IBD Day was created in 2010 during Digestive Disease Week in the United States of America(USA). 

i.The purple ribbon is recognised as the symbol of awareness and support for the people living with IBD. 
ii.The symbol is used by several IBD associations linked to World IBD Day. 
About Inflammatory Bowel Disease (IBD):
i.Crohn’s disease and ulcerative colitis are the two serious, chronic digestive diseases that affect around 5 million people across the globe.
ii.Crohn’s disease most commonly affects the colon and the last part of the small intestine, ileum, and the Ulcerative colitis involves inflammation and sores (ulcers) along the superficial lining of your large intestine (colon) and rectum.
iii.Symptoms: symptoms of IBD vary depending on the severity of inflammation. 
The common signs and symptoms of  Crohn’s disease and ulcerative colitis are Diarrhea; Fatigue; Abdominal pain and cramping; Blood in your stool; Reduced appetite; and Unintended weight loss.
Key Points:
i.Around 7 million people across the globe suffer from IBD. 
ii.Even though IBD is not a common disease, an increasing number of people have been diagnosed over the past 2 decades. 


TTL Partners with Assam Govt to Transform Polytechnics, ITIs into Centres of Excellence

Tata Technologies Ltd (TTL) partnered with the Assam government (Govt) to transform 34 state polytechnics and 43 Industrial Training Institutes (ITIs) into futuristic Centres of Excellence (CoEs).

With the total investment of about Rs 2,390 crore. TTL has signed a Memorandum of Agreement (MoA) with the Assam govt for a period of 10 years. The CoEs will act as a technology and industrial hub for MSMEs and support entrepreneurship.

  • To empower the North-East region, the upgraded COEs would offer a wide variety of courses to upskill youth of Assam in various traditional and new age industries.


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Current Affairs Today (AffairsCloud Today) Current Affairs 21 May 2022
1 Ministry of Finance Announces New Government Guarantee Policy
2 Ministry of Railways Approves Collaboration with IIT-M on Hyperloop Technology & Sets up Gati Shakti Directorate
3 GeM & SEWA Signed MoU to Engage Last Mile Women-led Enterprises as Sellers and Service Providers on GeM
4 CBSE supports Tourism Ministry’s initiative to establish YUVA Tourism Club
5 DoT Abolishes NOCC Charges for All Telecom Licence Holders
6 73.9mn Indians at Risk of Suffering from Increased Hunger Level by 2030: IFPRI’s GFPR 2022
7 Monitoring Mt Everest Weather Phenomena: National Geographic Society Installed World’s Highest Weather Station & China Flew Airship at Record Height to Study Atmospheric Composition
8 NDB Issues CNY 7 billion Bond in China Interbank Bond Market
9 RBI imposes Rs 29.79 lakh Penalty on Unimoni Financial Services
10 RBI imposes Penalty on Daimler Financial Services India, KKR India Financial Services
11 UN projects India to grow 6.4% in 2022: S&P cuts FY23 India growth forecast to 7.3%
12 Equitas SFB Managing Director & CEO Vasudevan To Step Down
13 China Plans World’s First Habitable Planet Search With Space Telescope
14 New Species Of Non-Venomous Snake Recorded In Mizoram
15 Adani Group Acquires Franchise in UAE T20 League
16 World Metrology Day 2022 – 20th May
17 World Inflammatory Bowel Disease Day 2022 – May 19
18 TTL Partners with Assam Govt to Transform Polytechnics, ITIs into Centres of Excellence

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