Current Affairs 22 October 2022

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NATIONAL AFFAIRS

India, France re-elected as President and Co-President of ISAi.India and France have been re-elected as President and Co-President of the International Solar Alliance (ISA).
ii.In this regard, India’s Union Minister Raj Kumar Singh, Ministry of New and Renewable Energy (MNRE) has been re-elected as the President of ISA, and France’s Minister of State for Development,  Chrysoula Zacharopoulou has been re-elected as Co-President.
iii.This decision was taken during the 5^th assembly of the ISA on October 17-20, 2022 in New Delhi, Delhi which saw the participants from 109 countries.
iv.During the assembly, ISA also approved ‘Solar Facility’, a payment guarantee mechanism which will boost investments into solar through two financial components — Solar Payment Guarantee Fund and Solar Insurance Fund.
About International Solar Alliance (ISA):
Director General– Ajay Mathur
Headquarters– Gurugram, Haryana
>> Read Full News

Prime Minister Narendra Modi’s Visit to Gujarat – October 19-20, 2022Prime Minister Narendra Modi visited Gujarat on October 19-20, 2022 and dedicated and laid the foundation stone of projects worth around Rs 15,670 crore.
PM Inaugurates DefExpo22 at Mahatma Mandir Convention & Exhibition Centre in Gandhinagar, Gujarat
PM Narendra Modi inaugurated the ‘DefExpo22’ during his visit to Gujarat at the Mahatma Mandir Convention and Exhibition Centre in Gandhinagar, Gujarat. The theme of the expo is “Path to Pride.”
Key Points:
i.This is the first defence expo to feature a defence exhibition hosted specifically for Indian companies, including those that are joint venture partners with Indian firms as well as Indian subsidiaries of foreign OEMs.
ii.The expo featured ten state pavilions in addition to an India Pavilion where the PM introduced the HTT-40, an indigenous trainer aircraft designed by Hindustan Aeronautics Limited (HAL).
PM Narendra Modi unveiled the Mission Schools of Excellence, an initiative with a 10,000 crore budget, at Trimandir in Adalaj, Gujarat.
PM Narendra Modi, laid the foundation stone and dedicated projects worth around Rs. 5860 crores in Rajkot, Gujarat, and also launched the India Urban Housing Conclave 2022.
PM Narendra Modi laid the foundation for several development initiatives worth over Rs. 1970 crore in Vyara, Tapi, Gujarat.
About the United Nations (UN):
Secretary General – António Guterres
Founded – 1945
>> Read Full News

Highlights of US International DFC CEO Scott Nathan visit to Indiai.The United States (US) International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan visited India-Mumbai (Maharashtra), and New Delhi (Delhi) from October 17-20, 2022.
ii.His visit was to highlight private sector-led development projects and discuss opportunities to accelerate economic growth and development in India, and the greater Indo-Pacific region.
iii.USDFC announced a USD 35 million loan to Creditaccess Grameen (CAG), which will help 5 lakh women entrepreneurs gain access to credit. It has a tenor of seven years.
iv.It also signed an agreement for a USD 10 million guarantees of a Rupee loan to Punjab Renewable Energy Systems Private Limited (PRESPL).
About US International Development Finance Corporation (DFC):
It is the US Government’s development finance institution.
Headquarters– Washington DC, United States
Establishment– 2019
>> Read Full News

GoI Approves India’s 1st Cable-cum-Suspension Bridge across Krishna RiverOn 20th October 2022 the Government of India (GoI) approved construction of a cable-cum-suspension bridge under Bharatmala Pariyojana project across Krishna river, that connects Telangana and Andhra Pradesh(AP), passing through the Nallamala forest range.

• The bridge across the Krishna river will be the first of its kind in India and the 2nd in the world.

Key highlights:
i.This iconic cable-stayed-cum-suspension bridge across Krishna river has been approved at a total financial outlay of Rs. 1,082.56 crore with a construction period of 30 months.
ii.The bridge has been described as Pragati Ka Highway and has several unique features like the longest glass pedestrian walkway across a river, gopuram like pylons, signature lighting and a large navigational span.

• Additionally, the bridge also has beautiful surroundings with the Srisailam reservoir surrounded by Nallamala forests and has an attractive view of Lalitha Someswara Swamy temple on the Telangana side and Sangameswaram temple on the side of Andhra Pradesh.

About the bridge:
i.It is a 2-storeyed cable bridge with 4-lane carriageway that is constructed for 3 kilometres (kms) across Krishna river.
ii.It begins from Somasila at Kollapur in Nagarkurnool district of Telangana and Atmakur in Kurnool district of Andhra Pradesh.
iii.This bridge will reduce the distance between Hyderabad, Telangana and Tirupati, Andhra Pradesh by 80 km.

BANKING & FINANCE

GIFT City, Fintech Association of Japan sign MoU

The Gujarat International Finance Tec City (Gift City) signed a Memorandum of Understanding (MoU) with Fintech Association of Japan (FAJ) to promote innovation and entrepreneurship in the fintech domain.

• Under this both entities will conduct programs related to international financial services, promoting GIFT City as a fintech hub in India, and exposing young innovators in the fintech domain to opportunities in India and Japan.

Key Points:
i.They will organize bootcamps, hackathons, and incubation and acceleration programmes focused on fintech areas such as payments, lending, financial planning, insurance technology, regulatory technology, wealth management and trade processing, among others
ii.There will be entrepreneurial programs focusing on financial inclusion, cyber security, artificial intelligence (AI), blockchain and human augmentation.
iii.This MoU aims to strengthen and create more value for the entities in GIFT City that will further spread awareness, knowledge and empowerment in the fintech domain.
About Gujarat International Finance Tec City (Gift City):
Managing Director and Group CEO– Tapan Ray
Location– Ahmedabad, Gandhinagar, Gujarat

NBBL Partners with KMBL for Credit Card Bill Payments via Bharat BillPay

On 20th October 2022 NPCI Bharat BillPay Limited (NBBL), the wholly-owned subsidiary of National Payments Corporation of India (NPCI) partnered with Kotak Mahindra Bank Limited (KMBL) to enable customers to pay credit card dues on the Bharat BillPay Platform.

• KMBL is the first private sector bank to provide such credit card payment options on Bharat BillPay ecosystem.
• The cards will be introduced in the Credit Card Biller category.

Key highlights:
i.Through this partnership, Kotak credit card holders will be able to pay their credit card bills through Bharat BillPay-enabled channels such as ICICI Bank, Axis Bank and HDFC Bank and get instant payments confirmation.
ii.Bharat BillPay ecosystem will automatically retrieve details of the customers by providing the last 4 digits in credit card and the registered mobile number.
iii.Bharat BillPay platform is a one-stop destination that offers recurring payment services to customers across several segments including electricity, telecom, DTH, gas, education fees, water, NETC FASTag recharge, loan repayments, insurance, cable, subscription fees, mobile prepaid recharges and municipal taxes.
About Kotak Mahindra Bank Limited (KMBL):
Managing Director (MD) & CEO – Uday Kotak
Headquarters – Mumbai, Maharashtra
Establishment – 2003

IDBI Bank Introduces Festive Offers On Fixed Deposits for A Limited Time Period       
IDBI Bank, a private sector lender, has announced the “Amrit Mahotsav FD” scheme with a rate of 6.90% for a unique bucket of 555 days commencing on October 21, 2022, as part of its festive offer.

• The bank has also increased its interest rate offered on term deposits across a range of maturity periods, w.e.f October 21, 2022.
• The highest rate for a two-year bucket is now 6.85%, while the interest rate on a one-year deposit has increased to 6.75%.

“Amrit Mahotsav FD” Scheme
i.The scheme offers a special, limited-time rate of interest of 6.90% for 555 days.

• The Amrit Mahotsav FD Scheme of 500 Days and 1100 Days will be discontinued from October 21, 2022.

ii.The bank offers a 6.90% interest rate to senior citizens and a 6.40% interest rate to the general public under its “Amrit Mahotsav FD” scheme.

• Senior citizens will only be entitled for a 0.50% standard markup, while retired senior citizen staff will only be eligible for a 1% standard markup.

Note: The State Bank of India (SBI), HDFC, ICICI, Axis, and Kotak Mahindra, have recently increased their FD interest rates.
Aditya Birla Health Insurance Launches Policy with Rewards for Healthy Habits
Aditya Birla Health Insurance Co. Limited (ABHICL) has announced the debut of “Activ Fit”, a comprehensive health insurance plan that targets customers who lead active lifestyles and seeks to reward them for their healthy lifestyle habits.
Key Points:
i.The plan will provide a 10% upfront discount for good health, based on an evaluation made using a unique facial scan.
ii.For the lifetime of the policy, all customers under the age of 35 are eligible for an Early Bird Discount at renewal, which is 5% from the 4th to the 7th policy year and 10% from the 8th policy year.
iii.A 100% binge refill feature will also be available to customers.

• A customer can use the 100% Binge Refill feature, if his/her insurance coverage is insufficient for hospitalization.
• This feature allows customers to be covered for any illness/injury up to the sum assured.

Coverage  

• The insurance policy also covers modern treatment mental care, HIV/AIDS and STD, day care treatments, pre-hospitalization and post-hospitalization, and road ambulance coverage.
• Maternity coverage includes standard delivery, C-section delivery, newborn baby expenses, vaccination expenses, and stem cell preservation.

About Aditya Birla Health Insurance Co. Limited (ABHICL)
ABHICL, a part of Aditya Birla Capital Ltd. (ABCL), is a joint venture between Aditya Birla Group and MMI Holdings of South Africa.
Chief Executive Officer (CEO) – Mayank Bathwal
Incorporated in – 2015

ECONOMY & BUSINESS

PhonePe Invests USD 200 million to Set up Data Centres in India

On 20th October 2022 payment services provider PhonePe Private Limited, India (PhonePe) invested USD 200 million (around Rs 1,661 crore) for setting up data centres in India.

Key points:
i.Out of USD 200 million, PhonePe has already invested USD 150 million, on combined capacity of over 14 megawatt (MW) spread across 3 facilities in Bengaluru, Karnataka and the new facility in Navi Mumbai.
ii.These investments on data centres are under a regulatory mandate on data localisation, which prevents any financial sector entity from storing its data overseas.
Note – Recently PhonePe has moved all its businesses including insurance, wealth broking, and also subsidiaries of PhonePe Singapore to PhonePe Private Limited, India (PhonePe).
About PhonePe Private Limited, India:
Co-Founder & Chief Executive Officer (CEO) – Sameer Nigam
Headquarters – Mumbai, Maharashtra
Establishment – 2015
Parent organisation – Flipkart

AWARDS & RECOGNITIONS 

Shiv Nadar tops EdelGive Hurun India Philanthropy List 2022 & reclaimed ‘India’s Most Generous’ title; Azim Premji at No 2Shiv Nadar, the founder of HCL Technologies, has topped the EdelGive Hurun India Philanthropy List 2022 released on 20th October 2022 and reclaimed the ‘India’s Most Generous’ title with an annual donation of Rs 1,161 crore.

• Azim Premji, Chairman of Wipro Limited secured the 2nd spot with an annual donation of RS 484 crore.

About EdelGive Hurun India Philanthropy List 2022:
i.EdelGive Hurun India Philanthropy List 2022, is the 9th annual ranking of the most generous individuals in India.
ii.The list was prepared by Hurun India in collaboration with the EdelGive Foundation, an initiative of Edelweiss.
Shiv Nadar Honoured with USISPF Lifetime Achievement Award 2022 
The United States(US)- India Strategic Partnership Forum (USISPF) has honoured Shiv Nadar, Founder of HCL Technologies and Shiv Nadar Foundation with USISPF Lifetime Achievement Award 2022. The award recognises his contribution in the technology industry and his philanthropic initiatives in the education sector.
>> Read Full News

Karnataka Bank wins 3 ‘DX 2022 Awards’ National Digital Transformation award On 18th October 2022, Karnataka Bank Limited (KBL) is awarded the National Digital Transformation Awards ‘DX 2022 Awards’ by the Confederation of Indian Industry (CII) for Best Practice in Digital Transformation under the Banking, Financial Services and Insurance (BFSI) segment.
The awards recognise ‘innovative excellence’ in 3 categories:

• Employee Engagement- KBL HR NxT,
• Operational Excellence- KBL Operations NxT,
• Customer Experience- KBL Customer NxT.

DX Awards: 
i. DX (Digital Transformation) Award is the ideal platform for organizations that have made outstanding contributions in the digital field to showcase their efforts and achievements.
ii. DX Award 2022 is the 4th edition of CII – Tata Communications Centre for Digital Transformation DX (Digital Transformation) Awards, to highlight the impact and benefits of Digital Transformation.
Key Highlights:
i. In 2017, KBL launched its Transformation Journey ‘KBL Vikaas’, partnering with the Boston Consulting Group (India) Private Ltd, (BCG) in Mangaluru, Karnataka.
ii. In 2021, KBL launched the ‘KBL NxT’ concept to emerge as the ‘digital bank of the future’.
iii. The bank focuses on digitisation under verticals such as customer experience, operations, human resources, technology, cyber security, digital marketing, partnerships, etc.
iv. Through the KBL Vikaas program, Digital transformation has started paying a huge share to the bank       

APPOINTMENTS & RESIGNATIONS        

Senior ICAS officer Bharati Das takes charge as new CGA of India On 18th October 2022, Government of India has appointed Bharati Das, a 1988-batch Indian Civil Accounts Service (ICAS) officer, as the new Controller General of Accounts (CGA), in the Department of Expenditure, Ministry of Finance, with effect from 18th October 2022.

• Bharati Das is the 27th Controller General of Accounts, Ministry of Finance.

About Bharati Das:
i. Bharati Das worked in the Central Ministries such as Civil Aviation, Finance, Health, Ministry of External Affairs, Home Affairs, Central Board of Direct Taxes (CBDT) etc.
ii. She has also served as the CCA at the Ministry of Health and Family Welfare, Director at the Ministry of Civil Aviation, and Deputy Secretary at the Ministry of Road Transport and Highways and the Ministry of Port, Shipping and Waterways.
iii. Bharati Das served as Principal Chief Controller of Accounts (Pr CCA) in the Ministry of External Affairs (MEA), Ministry of Home Affairs (MHA) and CBDT before taking charge as CGA.
About Ministry of Finance:
Finance Minister- Nirmala Sitharaman (RajyaSabha Karnataka)
Minister of State- Dr Bhagwat Kishanrao Karad (Rajya Sabha Maharashtra) & Pankaj Chaudhary
Headquarters- New Delhi, Delhi

Fire-Boltt appoints Vijay Deverakonda as its new brand ambassadorFire-Boltt, India’s No.1 wearable watch brand has appointed Vijay Deverakonda, an Indian Actor and model as its new Brand Ambassador.
Key Points:
i. Vijay Deverakonda will be a part of the marketing campaign of the brand alongside an Indian actress, Kiara Advani, cricketing icon, Virat Kohli and Indian actor, Vicky Kaushal.
ii. He will be a part of the marketing, advertisement, and endorsement campaigns of Fire-Boltt.
iii. Fire-Bolt has grabbed the 1st spot again in the Indian smartwatch market with a market share of 28% from 8.9% (last year). It has been ranked number 4 globally.
iv. Fire-Boltt has over 30 smartwatches and announced its expansion plans to newer markets beyond India which includes the Middle East and Europe.
Pintola appoints Indian cricketer Suryakumar Yadav as Brand Ambassador 
Pintola, owned by Fast-Moving Consumer Goods (FMCG) company Das Foodtech Private Limited, had appointed Indian cricketer Suryakumar Yadav to endorse the company’s exclusive range of nut butter and rice cakes across platforms.

• Suryakumar Yadav has become the brand ambassador for the 2nd time in a row.

Key Points:
i. The aim of Pintola with this collaboration is to further strengthen its market share and connect with the young Indian consumer segment at the same time is committed to its vision of being present in 100 million households in the next 2 years.
ii. Last month (September), the company also onboarded the elite Indian football player, Sunil Chhetri, as its brand ambassador.   

ACQUISITIONS & MERGERS   

CCI Approves for Acquisition of Various Entities & Imposes Rs. 1337.76 crore Monetary Penalty on GoogleThe Competition Commission of India (CCI) has approved the following Acquisition:

• Acquisition of equity securities amounting to up to 10% of the total paid up share capital and voting rights of the YES Bank Limited by Verventa Holdings Limited.
• Acquisition of up to 10% of the total paid up share capital and voting rights of the YES Bank by CA Basque Investments. 
• Acquisition of certain businesses of Shubhalakshmi Polyesters Limited(SPL) and Shubhlaxmi Polytex Limited (SPTex) by Reliance Polyester Limited (RPL).

CCI has also imposed a penalty of Rs. 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices.
>> Read Full News      

SCIENCE & TECHNOLOGY

ISRO set to Launch Chandrayaan-3 in June 2023 Indian Space Research Organisation (ISRO) has planned to launch the 3rd mission to the moon, Chandrayaan-3(C-3) in June 2023 onboard Launch Vehicle Mark-3 (LVM3). A robust lunar rover,  onboard C-3 will play a major role in the future interplanetary explorations.
Chandrayaan-3:
i.Chandrayaan-3(C-3) is a follow up mission of Chandrayaan-2(July 2019) that aims to land a rover on the lunar South Pole.
ii.It will carry a modified lander and rover and it will use the orbiter of Chandrayaan-2 mission to communicate with earth.
iii.The legs which will hold the craft’s body have been more rugged with improved sensors and algorithms to identify sites where the lander could descend successfully.
Chandrayaan-2: 
i.The first attempt of India to land a rover on the moon failed when the Vikram lander onboard Chandrayaan-2(C-2) mission crashed on the surface of the moon on 6th September 2019.
ii.Pragyan, the rover of C-2, was destroyed along with the Vikram lander.

• India had previously crashed a probe at  a region near the Shackleton Crater now called the Jawahar point, on the moon.

Gaganyaan – India’s Manned Mission into space: 
ISRO has also lined up the first test flight of the Abort Mission for Gaganyaan, the first human spaceflight.

• The mission is expected to be launched in December 2024.
• Gaganyaan mission will have 6 test flights: 2 unmanned missions and 4 abort missions, before sending in the manned mission.
• The abort missions test whether the rocket can carry a module into space and return safely.

Additional info:
On 23rd October 2022, ISRO is expected to launch 36 satellites aboard  Launch Vehicle Mark 3 (LVM3), ISRO’s heaviest rocket which was previously known as “Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk III)”, from Sriharikota, Andhra Pradesh.

• These satellites belong to OneWeb, a London(United Kingdom) based communications company.

A second set of satellites of OneWeb will be launched in February 2023.
About Indian Space Research Organisation(ISRO):
Chairman–  S. Somanath
Headquarters– Bengaluru, Karnataka

ENVIRONMENT

New species of Pygmy Grasshopper named ‘Dravidacris Annamalaica’ after Dravidian landscape

Researchers from Annamalai Nagar in Chidambaram (Cuddalore), Tamil Nadu discovered a new species ‘Dravidacris Annamalaica’ of Pygmy Grasshopper, also known as grouse locust, in Tamil Nadu, which is named after Dravidian landscape as a tribute to the Dravidian language group.

• Dr Dhaneesh Bhaskar (International Union for Conservation of Nature- Species Survival Commission (IUCN SSC), Grasshopper Specialist, Trier University Germany), H. Sankararaman (Vanavarayar Institute of Agriculture, Pollachi) and Niko Kasalo (University of Zagreb, Croatia) discovered the new grasshopper genus.
• The Specimen was collected 2 years ago (December 2020) by these researchers from Annamalai Nagar near Chidambaram, Cuddalore district, Tamil Nadu.

‘Dravidacris Annamalaica’ of Pygmy Grasshopper: 
Dravidacris Annamalaica is a separate genus of grasshoppers that was discovered for the 1st time in India.

• It was recently described as new species under a new genus of Dravidacris with long, tall and distinctly erect heads.
• Dravidacris annamalaica is in the checklist of Indian orthoptera and among the 500-odd species under 89 genera of the Metrodorinae grasshopper subfamily.

Pygmy Grasshopper: 
i. Pygmy Grasshoppers are smaller ones and are unique to specific micro-habitats.
ii. It is about 15 mm long, brown, grey or moss-green, and related to true grasshoppers.
Key Highlights:
i. Dr Dhaneesh Bhaskar is a research consultant with Chennai-based biodiversity research organisation Care Earth Trust who has been working on grasshopper since 2013.

• Dhaneesh Bhaskar is part of a specialist group of the International Union for Conservation of Nature (IUCN), involved in the Red List assessment of grasshoppers in the Nilgiris Biosphere Reserve in Tamil Nadu, Kerala and Karnataka. He is also the Regional Vice-Chair for the group in Asia.

ii. H Sankararaman found a new specimen of the grasshopper in Annamalai Nagar in Chidambaram in December 2020 while he was working on his doctoral thesis.

IMPORTANT DAYS

Global Iodine Deficiency Disorders Prevention Day 2022 – October 21Global Iodine Deficiency Disorders(IDD) Prevention Day or World Iodine Deficiency Day is annually observed across the globe on 21st October to create awareness about the importance of Iodine, an essential micronutrient which is required for normal thyroid function, growth and development.
Importance of Iodine: 
i.Iodine is a mineral which is found mainly in animal protein foods and sea vegetables, and to a lesser extent in fortified foods like bread, cereals, and milk.
ii.It is an essential micronutrient which is required to make thyroid hormones: thyroxine and triiodothyronine, which assist with the creation of proteins and enzyme activity.
iii.The thyroid hormones also play a major role in controlling body metabolism.

• The Recommended Daily Intake (RDI) of iodine is 150 micrograms (mcg) per day for most adults.

>> Read Full News

Police Commemoration Day 2022 – October 21Police Commemoration Day (Police Martyrs Day) is annually observed across India on October 21 to remember the sacrifices of police officers who lost their lives in the line of duty and pay tribute to them.
i. In 1960, at the Annual Conference of Inspectors General of Police of States and Union Territories, the National Police Commemoration Day was declared to be observed on October 21 every year.
ii. The day is observed to remember the incident which took place on 21st October 1959, when 10 policemen lost their lives fighting against China army at Hot Springs in Aksai Chin, close to Ladakh.
iii. In 1959, the patrol party of the Central Reserve Police Force (CRPF) which was led by SI Karan Singh was ambushed by the Chinese forces at Hot Springs Ladakh and 20 Indian soldiers were attacked.
iv. Out of 20, 10 were killed and 7 were injured and imprisoned by China. The martyred policemen were handed over to India a month later and their cremation was held with full police honours at the Hot springs in Ladakh.
About Central Reserve Police Force (CRPF)
Director General- Dr Sujoy Lal Thaosen,  Indian Police Service (IPS)
Establishment- 1939
Headquarters- New Delhi, Delhi
>> Read Full News

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