Current Affairs 22 December 2022

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NATIONAL AFFAIRS

2022 Social Progress Index: Norway Tops Globally, India Ranks 110th; Puducherry tops in Indiai.The Institute for Competitiveness released the annual 2022 Social Progress Index (SPI) which was published by Social Progress Imperative. India secured a global rank of 110 with score of 60.19 in Tier 4 countries.
ii.The index is topped by Norway with a score of 90.74 in Tier-1 countries i.e. high income countries.
iii.The SPI 2022 for States and Districts made by the Institute for Competitiveness and Social Progress Imperative was submitted to Economic Advisory Council- Prime Minister (EAC-PM).
iv.It was released by Bibek Debroy, Chairman, EAC-PM on December 20, 2022 at New Delhi, Delhi in presence of above mentioned authors.
v.Puducherry got the highest SPI score of 65.99 due to its remarkable performance across components like personal freedom and choice, shelter, and water and sanitation.
About Norway:
Capital– Oslo
Currency– Norwegian Krone
>> Read Full News

Tentative List of UNESCO World Heritage Sites Now Includes Vadnagar Town, Modhera Sun Temple & Unakoti SculpturesAccording to the Archaeological Survey of India (ASI), 3 new Cultural Sites in India have been added to the provisional list of United Nations Educational, Scientific, and Cultural Organization (UNESCO) World Heritage sites. They are as follows:

• Sun Temple, Modhera, Gujarat and its adjoining monuments
• Vadnagar – A multi-layered Historic town, Gujarat, which is also the birthplace of Prime Minister (PM) Narendra Modi
• Rock-cut Sculptures and Reliefs of the Unakoti, Unakoti Range, Unakoti District, Tripura

i.With this addition, India currently has 52 sites on the UNESCO Tentative List.
ii.So far in 2022, 6 Indian sites have been included to the tentative list.
iii.There are 40 sites in India that have been designated as UNESCO World Heritage Sites.
About the United Nations Educational, Scientific, and Cultural Organization (UNESCO):
Director-General – Audrey Azoulay
Established – 1945 (came into force in 1946)
Headquarters – Paris, France
>> Read Full News

Ministry of Ayush: The Status of Centres of Excellence Scheme ‘AYURSWASTHYA Yojana’

On 20th December 2022, the Ministry of Ayush (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) issued a notification regarding the status of the centres of excellence scheme ‘AYURSWASTHYA Yojana‘. The information was given by Minister of Ayush Sarbananda Sonowal in a written reply in Rajya Sabha.
AYURSWASTHYA Yojana:
AYURSWASTHYA Yojana, a Central Sector Scheme under the Ministry of Ayush is currently run with 2 components – AYUSH and Public Health (PHI) & Centre of Excellence (CoE) from the Financial Year (FY) 2021-2022 by merging two erstwhile schemes of AYUSH Ministry.

• Central Sector Scheme of Grant-in-Aid for Promotion of AYUSH Intervention in Public Health Initiatives (PHI)
• Central Sector Scheme for assistance to AYUSH organizations (Government / Non-Government Non-Profit) engaged in AYUSH Education/ Drug Development & Research / Clinical Research etc. for upgradation to Centre of Excellence (CoE).

Key Highlights:
i. Financial aid is provided to eligible individual organisations and institutions under the AYURSWASTHYA Yojana’s CoE component to construct and improve their facilities and/or conduct AYUSH-related research and development.
ii. Objectives of the CoE component of AYURSWASTHYA Yojana:

• To support the establishment of an advanced or specialized AYUSH medical health unit.
• To support creative proposals for the establishment and upgradation of both functions and facilities of reputed institutions to strengthen the competencies of AYUSH professionals at the national and international levels.
• To support creative ideas for prestigious organizations with established structures and infrastructure that want to work for AYUSH systems to the level of CoE.

iii. Under the CoE component of the AYURSWASTHYA Yojana:

• An organisation or institution may receive up to Rs. 10 crores in financial aid under the scheme for a maximum of 3 years.
• The projects are approved and funds are released directly to eligible individual organisations or institutions based on the merit of the proposals received from them.

iv. Under the erstwhile CoE scheme and CoE component of the AYURSWASTHYA Yojana, healthcare services are provided by the grantee organizations/institutions across India as per the objectives of the projects.

• According to the scheme guidelines, these services are offered to the general public, especially the economically weaker members of society.
• Additionally, the quality enhancement of these healthcare services is given special consideration.

Note: No organization/institute of UT of Puducherry is supported under the erstwhile CoE scheme and CoE component of the AYURSWASTHYA Yojana. Further, Puducherry has not submitted any proposals under the Centre of Excellence component of the AYURSWASTHYA Yojana.

Jyotiraditya Scindia Launches India’s First Green Steel Brand – “KALYANI FeRRESTA”

On 20th December 2022 Union Minister of Steel, Jyotiraditya Scindia launched India’s first Green Steel Brand, “KALYANI FeRRESTA” in New Delhi. This was manufactured by a Saarloha Advanced Materials (Saarloha) Pune-based Kalyani group company, by using renewable energy resources, leaving zero carbon footprints in the environment.

• India is presently leading the countries which have committed to achieving carbon neutrality, with ongoing green steel manufacturing.

Key highlights:
i.Government of India (GoI) is promoting green steel manufacturing and has framed the National Steel Policy to achieve zero carbon emissions by the steel industry.

• The policy makes it mandatory for steelmakers to dedicate a certain percentage of their production lines for making green steel and also encourages its usage in government projects, as a promotion towards the use of the product.

ii.GoI sought to decarbonise the steel industry by encouraging enhanced use of renewable sources of energy, application of resource-efficient materials, further expansion of scrap usage, possible use of green hydrogen as a furnace fuel in the future and exploration of carbon capture utilisation and storage.
Additional Info:
i.Sweden was the 1st country in the world to manufacture fossil-free steel which is also known as green steel.
ii.The world’s first green steel was delivered by Swedish steelmaker SSAB Oxelösund to Volvo Group.
Carbon emission:
i.The steel industry produces 7 percent of Carbon-di-oxide (CO2) emissions globally, while the Indian steel industry accounts for 12 percent of such emissions.
ii.Green steel is manufactured using low-carbon energy sources such as hydrogen, coal gasification and electricity rather than using coking coal.
Note – India is the world’s second-largest producer of crude steel after China.

IICA launches a Programme to create Impact Leaders in ESG

On 20th December 2022, the Indian Institute of Corporate Affairs (IICA), an autonomous institution under the aegis of the Ministry of Corporate Affairs (MCA), Government of India (GoI) has launched a programme to create ‘Impact Leaders’ in the areas of Environmental-Social-Governance (ESG).

• Leena Nandan, Secretary of the Ministry of Environment, Forest and Climate Change, GoI, was the Chief Guest at the launch.
• Participants at the launch: Sudhir Kumar, Advisor (Industries), NITI Aayog, GoI; Praveen Kumar, Director General and CEO of IICA; Dr Mukun Rajan, ESG Expert; Geetanjali Prasad, Partnership Specialist of UNICEF (United Nations Children’s Fund); and Garima Dadhich, Head, School of Business Environment of IICA.
• The event was attended by 50 budding ESG professionals who are senior corporate officials enrolled in the programme worldwide.

INTERNATIONAL AFFAIRS

UI GreenMetric World University Rankings 2022: MAHE ranks No 1 in India & 121st WorldwideAccording to the UI Green Metric World University Rankings 2022 released by The Universitas Indonesia (UI) on 12th December 2022, the Manipal Academy of Higher Education (MAHE), Manipal(town within Udupi), Karnataka is ranked No. 1 in India and 121st worldwide for being the most sustainable university.

• MAHE is followed by Mangalore University, Mangaluru, Karnataka, and S R M University (Institute of Science and Technology) Chengalpattu, Tamil Nadu are ranked 2nd & 3rd in India.
• Wageningen University & Research of Netherlands topped the list followed by the United Kingdom(UK)’s Nottingham Trent University and the University of Nottingham in 2nd and 3rd place respectively.

About Manipal Academy of Higher Education:
MAHE was declared as an Institution of Eminence Deemed to be University (IoE) by the Ministry of Education, Govt. of India, in October 2020.
President and Chancellor– Dr Ramdas M. Pai
Started operation in 1953
Location– Manipal, Karnataka
>> Read Full News

BANKING & FINANCE

SEBI board approves phasing out shares buyback through stock exchangesOn December 20, 2022, the Securities and Exchange Board of India (SEBI) approved amendments to the existing buyback regulations.  It phases out shares buyback by companies through the open market route/stock exchanges in a gradual manner.

• This decision is followed the recommendations made in the Keki Mistry report, which suggested that open market share buy backs are prone to misuse.

Key Points:
i.It also increased the minimum utilization of the amount earmarked for buyback through stock exchange route from existing 50% to 75%.
ii.Buybacks will be undertaken through a separate window on stock exchanges till the time buyback is permitted through stock exchange.
iii.It also reduced the timeline for the completion of buybacks through the tender offer route by 18 days.

TransUnion CIBIL & OPL launched FIT ranking for MSMEs under SIDBI Mentorship

On 20th December 2022, the credit bureau TransUnion CIBIL Limited in collaboration with Online PSB Loans Limited (OPL), under the mentorship of the Small Industries Development Bank of India (SIDBI) launched FIT Rank – a comprehensive ranking model for Micro Small and Medium Enterprises (MSMEs).

• It was launched with the intent to increase credit flow to small businesses and also helps lenders avoid loan losses on such bets.
• This is the first time TransUnion CIBIL, in collaboration with OPL, has developed a credit default predictor model based on financial, income and trade data which has been made possible due to the improved digitization in the credit industry.

About FIT ranking:
i.FIT Rank will rate around 6 crore MSMEs by drawing inputs from their current accounts, Income Tax Returns (ITR) and Goods and Service Tax (GST) returns, after taking consent to draw the relevant data, to arrive at a score between 1-10 to rate a borrower

• The model uses Machine Learning (ML) algorithms to predict the probability of an MSME becoming a non-performing asset (NPA) in the next 12 months.

ii.Each FIT rank corresponds to a Probability of Default (PD). The FIT Rank 1 will be the least risky MSME and FIT Rank 10 will be the most at-risk MSME.
iii.Using FIT rankings, SIDBI has launched a new Express loan Product for MSMEs to provide loans up to Rs 50 lakh for the purchase of machinery and roof top solar through straight through processes.
Keynote:
i.Until now, the leading credit information company (CIC) had the Cibil MSME Rank model in the market which drew inputs from the past loans and the new to credit customers were neglected.
ii.In FY 2021-22, 27 lakh MSME’s availed credit, out of which 11.6 lakh MSMEs were new-to-credit and remaining 15.4 lakh MSMEs with an existing credit footprint, more than 9 lakh MSMEs (58%) falls under the CIBIL MSME Rank (CMR) model’s, medium-risk segment (CMR-4 to CMR-6).
About TransUnion CIBIL Limited:
Managing Director (MD) & chief executive Officer (CEO) – Rajesh Kumar
Headquarters – Mumbai, Maharashtra

RBL Bank & BUSINESSNEXT wins IBSi Global FinTech Innovation Award 2022

RBL Bank (formerly known as Ratnakar Bank), one of India’s leading private sector banks, along with BUSINESSNEXT won IBS Intelligence (IBSi) Global FinTech Innovation Awards 2022 for Most Impactful Project & Best Customer Relationship Management (CRM) System Implementation.

• The IBSi Global FinTech Innovation Awards identifies and honours technology companies and banks for their outstanding work in implementing and innovating financial technology using emerging technologies.

ECONOMY & BUSINESS

E2S Power signs agreement with IPCL for a 250 KWh pilot thermal energy storage unit

Switzerland-based E2S Power, a leading developer of thermal energy storage solutions, and India Power Corporation Limited (IPCL), one of the leading power utilities in India, have signed an agreement for a 250 kilowatt-hour (kWh) pilot thermal energy storage unit to be operated in India.

• The Pilot unit was engineered, built, and tested at the E2S Power facility in less than 9 months.
• The pilot thermal energy storage unit passed the Factory Acceptance Tests and is to be delivered in the 1st quarter of 2023. This is the 1st step to implementing the E2S solution globally.

Key Points:
i. This partnership will help in transforming thermal power assets into clean energy storage facilities, making a significant contribution to the growth of India’s renewable energy sector.

• It is because the solution can be implemented quickly to provide urgently needed energy storage while using most of the infrastructure in thermal power plants being retired and safeguarding jobs.

ii. Long Duration Energy Storage System (LDESS) is the ideal solution given the fast-increasing production of renewable energy in the overall energy mix.

• It will also provide a solution for meeting the requirement of flexibilization of Thermal Power Plants.
• Through this partnership, E2S Power expects to cater for an estimated demand of 10 GW of Long Duration Energy Storage Systems (LDESS) within the next 8-10 years.

iii. IPCL and E2S Power will work jointly with major companies in India’s power and renewable energy sectors to identify, evaluate and offer optimized integrated thermal energy solutions for existing plants and facilities being phased out.
iv. A reliable power system faces new challenges and opportunities in operating and maintaining the evolving power generation mix and growing demand.

• India’s goal of 500 Gigawatt (GW) of renewable energy by 2030 will be achieved in large part because of new storage technologies.

v. Thermal energy storage from E2S Power is a system that offers a pathway to green energy while regenerating existing assets, retaining skilled jobs, and creating new ones.
About E2S Power: 
E2S Power AG was incorporated as a joint venture between SS&A Power Development (Switzerland) and WIKA Group (Germany).
President- Alexander Wiegand
Chief Executive Officer(CEO)– Dr Sasha Savic
Headquarters- Switzerland
About the India Power Corporation Limited (IPCL):
President- Sanjeev Sinha
Managing Director- Raghav Raj Kanoria
Headquarters- Kolkata, West Bengal
Establishment- 1919

Urban Company partners with NSDC to Certify and Train new employees

On 20th December 2022, the online home services platform Urban Company signed an agreement with the National Skill Development Corporation (NSDC) to provide training and digital certification to thousands of new employees.

• Under the programme, new employees will receive skill development training from Urban Company in the categories of salon, spa & massage, electrician, plumber, carpenter, appliance repair, and cleaning & pest control.
• All the partners who will join the platform under the Scheme for Market Led Fee-Based Services program by NSDC will also be available on the Skill India portal (SIP).
• Depending on the candidate’s skill level and selected career, the training programmes last anywhere from 7 to 45 days.

Note: In 2019, Urban Company have signed a Memorandum of Understanding (MoU) to enable all Urban Company service professionals to be Skill India certified.

AWARDS & RECOGNITIONS 

Digital India Awards 2022: MoHUA’s Smart Cities Mission Wins Platinum Icon AwardThe Smart Cities Mission of the Ministry of Housing & Urban Affairs(MoHUA) has won the Platinum icon award in the Digital India Awards (DIA) 2022 under the Data Sharing and Use for Socio Economic Development category for their initiative “DataSmart Cities: Empowering Cities through Data”.

• The aim of DIA 2022: To inspire and motivate not only government entities but also startups in fulfilling the Digital India vision.
• 2022 marks the 7th edition of the Digital India Awards (DIA).

About Digital India Awards (DIA): 

Digital India Awards (DIA) are instituted under the aegis of National Portal of India to honour and encourage innovative digital solutions by government entities at all levels(Centre, State & local bodies) to fulfil the Digital India vision.

• The National Portal has been designed and developed by National Informatics Centre (NIC), Ministry of Electronics and Information Technology (MeitY), Government of India as a mission mode project.

The Digital India Awards are presented under 7 categories:

• Digital Initiatives at Grassroot Level
• Digital Empowerment of Citizens
• Digital Initiatives for Ease of Doing Business
• Public Digital Platforms – Central Ministries, Departments and States
• Data Sharing and Use for Socio Economic Development
• Digital Initiatives in Collaboration with Startups
• Best Web & Mobile Initiatives Complying with Guidelines for Indian Government Websites (GIGW) & Accessibility Guidelines

About Ministry of Electronics and Information Technology (MeitY):
Union Minister– Ashwini Vaishnaw(Rajya Sabha- Odisha)
Minister of State– Rajeev Chandrasekhar(Rajya Sabha- Karnataka)
>> Read Full News 

Shah Rukh Khan only Indian to feature on British magazine’s list of 50 greatest Actors

Indian Actor and Bollywood superstar, Shah Rukh Khan(57 years old) has become the only Indian to be named on the 50 Greatest Actors Of All Time List of Empire Magazine, a British monthly film magazine.

• Shah Rukh Khan made his film debut with the commercially successful Deewana (1992). His career lasted for over 4 decades with unbroken hits.
• Shah Rukh Khan’s notable works include, “Devdas”, “My Name Is Khan”, “Kuch Kuch Hota Hai”, “Jab Tak Hai Jaan” and “Swades”.

The list also features Hollywood giants like Denzel Washington, Tom Hanks, Anthony Marlon Brando, Meryl Streep, Jack Nicholson and many others.   

APPOINTMENTS & RESIGNATIONS

Puma India ropes in Anushka Sharma as Brand Ambassador 

On 20th December 2022, Sports brand Puma India announced Bollywood Actress and entrepreneur Anushka Sharma as its new Brand Ambassador, part of its ongoing commitment towards the women’s business in India.

• Anushka Sharma will participate in a variety of brand campaigns and activities to promote the brand’s footwear, clothes, and accessories, including a few collections throughout the year.
• Anushka Sharma is a well-known brand ambassador for several companies, such as TVS Scooty, Nivea, Elle 18 cosmetics, Bru coffee, and Pantene.

About Anushka Sharma:
i. Anushka Sharma was born on 1 May 1988 in Ayodhya, Uttar Pradesh. She got married to the Indian cricketer Virat Kohli.
ii. She made her acting debut in Shahrukh Khan’s Rab Ne Bana Di Jodi (2008), directed by Aditya Chopra.

• Her other noted films are Badmaash Company(2010), Sultan (2016), Ae Dil Hain Mushkil (2016),
• Upcoming Film: “Chakda Xpress”, a biopic of Jhulan Goswami, 2nd Indian women cricketer to receive Padma Shri.

iii. In 2017 she became the 1st actress to feature on the cover of “Entrepreneur magazine” with a cover story focusing on her career as a producer.
iv. She is the youngest Bollywood actress who became a producer, at the age of 25.
v. Other notable brand ambassadors of PUMA: Virat Kohli, MC Mary Kom, Kareena Kapoor Khan, Yuvraj Singh, Sunil Chhetri, and recently Harrdy Sandhu.
Pepsico’s Aquafina brand named Katrina Kaif as its Brand Ambassador
Pepsico India’s packaged-water brand Aquafina appoints Bollywood Actress Katrina Kaif as its Brand Ambassador.

• Katrina Kaif was earlier the brand ambassador for Pepsico’s fruit-flavoured sugar drink “Slice” for the last 16 years.
• She moves on from Slice but continues to be a part of the Pepsico family.

Some of the brands endorsed by Katrina Kaif are Kay Beauty, Nykaa, Xiaomi India, Kalyan Jewelers, Lenskart, and Titan Watches.          

ACQUISITIONS & MERGERS       

CCI Approves WHL, Brookfield Asset Management’s minority stake buy in UPL SAS

On 20th December 2022, the Competition Commission of India (CCI) approved Woodhall Holdings (DIFC) Limited (WHL), acquisition of a minority stake in UPL Sustainable Agri Solutions Limited (UPL SAS).

• The Proposed Transaction is notifiable to the CCI under Section 5(a) of the Competition Act, 2002.
• WHL is a newly incorporated special purpose vehicle which is part of the Brookfield Global Transition Fund

Key highlights:
i.Background – In October 2022, UPL announced that Brookfield along with other investors will invest Rs 1,580 crore for a 9.09 percent stake in its agri-tech platform UPL SAS.
ii.This acquisition deal has been approved under the green channel route.
Key Points: 
i.The Proposed Transaction does not raise any risk of an appreciable adverse effect on competition in any relevant market in India since there are no overlaps between WHL and UPL SAS.
ii.Therefore the proposed transaction is being notified under the green channel route in terms of Regulation 5A and Schedule III of the Competition Commission of India (Procedure in regard to the transaction of Business relating to Combinations) Regulations, 2011 (as amended).
About UPL Sustainable Agri Solutions Limited (UPL SAS):
UPL SAS (Formerly known as Optima Farm Solutions Limited) is an Indian agro-chemical company that is engaged in the manufacturing, marketing, and sales of various agro-chemicals including insecticides, herbicides, and anti-sprouting agents.
Directors – K R Srivastava, Nitin Kolhatkar, Pradyumna Agrawal, Ashish Dobhal
Headquarters – Mumbai, Maharashtra

SCIENCE & TECHNOLOGY

Indian Navy Gets 5th Scorpene Class Submarine ‘Vagir’On December 20, the fifth Scorpene-class conventional submarine, “Vagir”(S25), of “Project 75”, Kalvari Class submarines, Yard 11879, was delivered to the Indian Navy by Mazagon Dock Shipbuilders Limited (MDL) Mumbai, Maharashtra.

• It will be commissioned into the Indian Navy in January 2023 as “Indian Naval Ship (INS) Vagir,” a fully combat-worthy submarine capable of operation in all modes and deployment regimes.

Project-75
i.Six Scorpene-class submarines are to be built indigenously under Project-75.
ii.The first submarine, “INS Kalvari,” was commissioned in December 2017, followed by 2nd submarine “INS Khanderi“ in September 2019, 3rd submarine “INS Karanj” in March 2021, and 4th submarine “INS Vela” in November 2021.
iii.Vagir was launched into the water on November 12, 2020, and began sea trials on February 1, 2022.
About the Indian Navy:
Chief of Naval Staff (CNS) – Admiral Radhakrishnan Hari Kumar
Founded – January 26, 1950
Headquarters – New Delhi, Delhi
>> Read Full News

IN-SPACe Signs MoU with QNu Labs to Develop Satellite QKD ProductsOn 20th December 2022, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) signed a Memorandum of Understanding (MoU) with Bengaluru-based deep tech startup QNu Labs to develop indigenous Satellite Quantum Key Distribution (QKD) products.

• This collaboration will ensure that India will lead the future of a global quantum communication network that will involve a combination of the quantum-satellite constellation, providing intercontinental connectivity.
• India would become the world leader in creating Quantum Secure Communication Network with Satellite QKD capability.

Key highlights:
i.Under the MoU, QNu Labs, with the support of the Indian Space Research Organisation (ISRO) and IN-SPACe, aims to demonstrate unlimited distance Satellite QKD based quantum secure communication.

• QKD is a technology that uses principles of quantum mechanics to ensure security to sensitive information shared among different parties.

ii.IN-SPACe will facilitate the QNu Labs to achieve the objectives of providing secure cryptographic key delivery services to customers for a range of applications catering in the government & defence sectors where the security and confidentiality of shared information are crucial.

• IN-SPACe acts as a single-window, independent, autonomous nodal agency of the Department of Space (DOS) for the promotion, enabling, authorization, and supervision of various space activities of non-governmental entities (NGEs).

About QNu Labs:
Co-Founder and Chief Executive Officer (CEO) – Sunil Gupta
Headquarters – Bengaluru, Karnataka
About Indian National Space Promotion and Authorisation Centre (IN-SPACe):
Chairman – Pawan Goenka
Headquarters – Ahmedabad, Gujarat

Indian Navy launches its first anti-submarine warfare ship “INS Arnala”The Indian Navy launched the Indian Naval Ship (INS) “Arnala,” the first of eight indigenously built Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) [Yard 3029], at shipbuilding facility of Larsen & Toubro (L&T) in Kattupalli, Chennai, Tamil Nadu.

• It is built by Garden Reach Shipbuilders and Engineers Ltd. (GRSE), Kolkata, West Bengal.

Significance: ‘INS Arnala’ (Yard 3029)
i.The ship’s name, “Arnala,” honours the strategic maritime significance that Maratha warrior king Chhatrapati Shivaji Maharaj bestowed on the island of Arnala, which is situated about 13 kilometres north of Vasai, Maharashtra.
ii.“INS Arnala” had its maiden contact with Bay of Bengal water during a launch ceremony presided over by Rasika Chaube, Financial Adviser (Defence Services) of the Ministry of Defence (MoD).
About Garden Reach Shipbuilders and Engineers Ltd. (GRSE):
Chairman & Managing Director (CMD) – Commodore (Retd) PR Hari
Incorporation –  1976
Headquarters – Kolkata, West Bengal
>> Read Full News

Europe’s Vega C rocket Fails After its Launch and Lost in Space

On 21st December 2022, the Vega C, developed by the European Space Agency (ESA) and operated by Arianespace, carrying 2 satellites Pléiades Neo 5 and Pléiades Neo 6 for Airbus’ Pléiades Neo Earth-imaging constellation was lost in space after its launch from the spaceport in Kourou, French Guiana.

• 115-foot-tall (35 meters) Vega C, a four-stage rocket, is a more powerful version of the Vega, which first flew in 2012.
• The first stage of the rocket P120C was burned successfully But the second stage, Zefiro 40, failed.

STATE NEWS

J&K Bank Signs MoU with Ladakh Administration; J&K Approves Rehabilitation Policy for CiSSOn 20th December 2022, Jammu and Kashmir (J&K) Bank signed a Memorandum of Understanding (MoU) with the Administration of Ladakh Union Territory (UT), conferring preferential status to each other.

• Under this MoU, the Administration of Ladakh UT will nominate J&K Bank as the ‘preferred banker’ for all its banking-related services, while as, J&K Bank would give the ‘most favoured client’ status to Ladakh UT Administration and its active permanent employees who maintain a salary account with J&K Bank.

J&K Approves Rehabilitation Policy for Children in Street Situation
On 20th December 2022 the Jammu & Kashmir (J&K) Administrative Council, under the chairmanship of Manoj Sinha, Lieutenant Governor (LG) of J&K, approved the Rehabilitation Policy for Children in Street Situation (CiSS) in order to safeguard them from different hazards.
About Jammu & Kashmir (J&K):
Lieutenant Governor (LG) – Manoj Sinha
Wildlife Sanctuary – Ramnagar Wildlife Sanctuary, Rajparian Wildlife Sanctuary
Airport – Srinagar International Airport (Sheikh ul-Alam International Airport), Jammu airport Satwari Airport
>> Read Full News

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