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GoI Approves Continuation of IVFRT Scheme till March 2026 The Government of India (GoI) has approved for the continuation of Immigration Visa Foreigners Registration Tracking (IVFRT) Scheme till March 31, 2026 with a period of five years which starts from April 1,2021 and its financial outlay is Rs 1,364.88 crore.
- In order to Modernize and upgrade the Immigration services, “Immigration, Visa and Foreigners Registration & Tracking (IVFRT)” has been identified and included as one of the MMPs to be undertaken by the Ministry of Home Affairs under the National e-Governance Plan (NeGP).
Aim And Objective of IVFRT:
i.The aim is to provide a secure and integrated service delivery framework that facilitates legitimate travellers by strengthening national security.
ii.The main objective for the continuation of IVFRT is the modernization and up-gradation of Immigration and Visa services.
Focuses of IVFRT:
i.Security, Facilitation, Enablement and Integration of various Immigration related activities.
ii.Online Registration of Foreigners and automated service delivery system.
Functions of IVFRT:
i.The project interlink and optimise the immigration, visa issuance, registration of foreigners and tracking of their movements in India.
About Ministry of Electronics and Information Technology (MeitY):
Union Minister – Ashwini Vaishnaw (Constituency – Odisha)
Minister of State – Rajeev Chandrasekhar (Constituency – Karnataka)
>> Read Full News
MoD signs Rs 1075cr contract with BEL for 957 Commander MWIR Sights in T-90 TanksOn February 24, 2022, the Acquisition Wing of the Ministry of Defence (MoD) signed a contract for Rs 1075 crore with Bharat Electronics Limited (BEL) for the retro-modification of Commander Sight in 957 India’s premier Battle Tanks i.e. T-90 of the Indian Army.
- This will further boost to the indigenous R&D (Research and Development) and defence manufacturing.
What are the modifications?
T-90’s present Image Converter (IC) tube-based sight for night viewing will be replaced with the advanced Mid Wave Thermal Image (MWIR) based sight which is jointly designed and developed by DRDO (Defence Research and Development Organisation) and BEL. This modification is based on the requirement by the Indian Army.
- MWIR is capable of detecting the targets at 8 Kms during day and night and a Laser Ranger Finder (LRF) finds the ranges accurately up to 5 Kms, thereby enhancing its capability to engage targets at longer ranges.
- With these modifications, the Commander of T-90 can detect, engage and neutralize the targets with phenomenal accuracy.
WEF and India’s NIUA collaborate on Sustainable Cities- India Programmei.On February 24, 2022, the World Economic Forum (WEF) and the National Institute of Urban Affairs (NIUA) of India virtually signed Memorandum of Understanding (MoU) to collaborate on a jointly designed Sustainable Cities- India Program during a virtual MoU signing event.
ii.The program aims to enable decarbonisation of Indian cities and reduce emissions across the energy, transport, and the built environment sectors in sustainable and systematic ways.
iii.This initiative is on the lines of India’s commitment to turn net zero by 2070 as a climate mitigation response at COP26 (Conference of the Parties).
About National Institute of Urban Affairs (NIUA):
Director– Hitesh Vaidya
Headquarter– New Delhi, Delhi
About World Economic Forum (WEF):
Establishment – 1971
Founder and Executive Chairman– Klaus Schwab
Headquarters– Cologny, Geneva, Switzerland
>> Read Full News
Delhi Cabinet approved India’s first’ e-waste eco-park ; framed Delhi film policy 2022 The Delhi Cabinet has approved to set up India’s first of its kind ‘electronic-waste eco-park’. It has also agreed to devise ‘Delhi Film Policy 2022’, as a thrust to promote tourism.
About Country’s First e-waste eco-park:
i.The electronic waste eco-friendly park is to be built on 20 acres of land.
ii.Nearly, 2 lakh tonnes of e-waste is thrown by Delhi every year. This eco-park will recycle, refurbish and dismantle e-waste in a scientific and a safe way.
iii. This eco-park will act as an Integrated Facility, by engaging in dismantling, segregating, refurbishing, material-wise storage, testing and plastic recycling. It will also have precious metal extraction facilities, especially from Printed Circuit Boards (PCBs) through high-end technologies.
About Delhi Film Policy 2022:
i.The Delhi Film Policy 2022 is to promote tourism in Delhi, making the National Capital- a Brand. It will also make it a hub for modern film-making, meeting European Standards.
ii.The govt. is to create an ‘e-Film Clearance Portal’ and provide an aid of Rs 3 crores for film production. It has also decided to incentivize hiring locals in the cinema industry.
iii.Rs 50 crore film fund will be introduced to support film producers and single-window clearance in 15 days facility will be given.
iv.Four objectives of policy –
- Association of the people of Delhi with the policy,
- Making the national capital a brand for shooting location,
- Turning the city into a hub for the production of domestic & international films
- Creating jobs for the people.
Note- In January 2020, India’s first e-waste clinic was opened in Bhopal, Madhya Pradesh. It was set up by the Bhopal Municipal Corporation and the Central Pollution Control Board.
Chief minister-Arvind Kejriwal
Heritage site- Humayun’s Tomb, Qutb Minar and its Monuments
GoI to Promote ‘Heal by India’ to Strengthen Educational Institutes in Health SectorThe Government of India (GoI) is planning to promote “Heal by India” initiated to strengthen India’s educational institutions in the health sector and to enhance education to produce quality human resources in health, which will support them to become eligible to work globally.
- The Ministry of Health and Family Welfare(MoHFW) has organised a Chintan Shivir – ‘Heal by India’ for two days.
Heal by India:
‘Heal by India’ initiative is meant to generate job opportunities across the world for India’s trained professionals in the health sector.
Chintan Shivir – ‘Heal by India’:
The 2 day Chintan Shivir – ‘Heal by India’ discussed the 4 major points including,
training and skills, quality education, employment opportunities and working on providing required amenities like advanced technology to make India’s health sector a global source.
The Chintan Shivir included,
- Positioning India as a global source for quality talent for international employers
- Facilitating gateways for global talent to receive human resources for health
- Attracting global talent to receive a quality education from our educational institutions in the health sector.
i.The MoHFW is set to organise more Chintan Shivir to promote medical tourism.
Under this campaign, GoI will focus on strengthening medical infrastructure, improving primary health care, tertiary health care, medical insurance etc.
ii.The committee present at the Shivir will be headed by Dr. Vinod Paul, a Member of NITI Aayog (National Institution for Transforming India).
iii.A 5-year plan of action would be formulated within the timeline of two months.
MeitY Launches 3D manufacturing policy, Aims to Achieve 500 Products by 2025
The Ministry of Electronics and Information Technology (MeitY) launched the National Strategy on Additive Manufacturing or 3D printing policy in India. The strategy aims to increase the share of global additive manufacturing to 5 percent by contributing $1 billion to Gross Domestic Product (GDP) by 2025.
i.The new startups aims to give opportunities to 1 lakh newly skilled workers for next three years.
The National Strategy for Additive Manufacturing targets 50 India specific technologies to be developed on 3D printing, 100 new start-ups, 500 products, 10 existing and new manufacturing sectors.
About Additive Manufacturing (AM) or 3D printing:
i.3D printing or AM uses computer-aided designs to make prototypes or working models in products such as electronics, photonics, medical devices, agro and food processing etc.
ii.Materials used for the objects are plastic, resin, thermoplastic, metal, fibre or ceramic.
iii.The model is first structured in the computer with the help of software and then instructed to the 3D printer.
iv.Establishment of subject matter experts and leaders from local and global industries could lead the mission.
v.The development is done with the help of Public-private partnership (PPP) funding model.
vi.As a part of national strategy, AM technique should be introduced in all the sectors, including defence and public sectors.
vii.Though the shares may increase the government of India has its technical challenges for making 3D printing economically viable for the Ministry of Micro, Small and Medium Enterprises (MSME).
i.Global spending on AM in 2019 was $13.8 billion with a growth of 23.5% per annum and expected to reach $34.8 billion by 2024.
i.Protocols include active participation in relevant global forums and extensive public-private consultations with academia, R&D institutions and industry experts.
ii.Man-power in the required fields such as operators, engineers, R&D personnel, technology broking and management.
National Strategy on Additive Manufacturing:
Nodal Officer – Shri Jatinder Singh, Senior Accounts Officer
The/Nudge Foundation, Ashirvad Pipes, GoI Announces The/Nudge Prize- Ashirvad Water Challenge
The/Nudge Foundation, and Ashirvad Pipes has launched The/Nudge Prize- Ashirvad Water Challenge in partnership with the Office of the Principal Scientific Adviser to the Government of India(GoI). The startup prize of Rs 2.5 crore invites startups and innovators to create solutions to provide clean drinking water to the underprivileged and rural households, that will ensure clean drinking water for all Indians by 2024.
- Aim: To support solutions that address population-scale water challenges.
- The 18 month long programme will support in developing, testing, and scaling solutions through a network of investors, mentors, technology and knowledge partners, and policy circle advisors.
- The challenge is an independent contest run by The/Nudge Centre for Social Innovation.
USCC-GIPC’s International IP Index 2022 – India Ranked 43rd; US Tops
On 24th February 2022 Global Innovation Policy Centre (GIPC) of United States Chambers of Commerce (USCC) released the 10th edition of International Intellectual Property (IIP) Index, ‘Compete for Tomorrow’(IIP Index 2022). India has ranked 43 out of 55 countries on the 2022 IIP Index.
- The Index is topped by the US with 95.48 percent followed by the United Kingdom (UK) with 94.14 percent and third position is occupied by Germany with 92.46 percent.45 economies improved their overall score in this 10th edition.
Key Findings of the report:
i.India’s overall score has increased from 38.40 percent (19.20 out of 50) in the ninth edition to 38.64 percent (19.32 out of 50) in the 10th edition.
ii.The Index is topped by the US with 95.48 percent followed by the United Kingdom (UK) with 94.14 percent and third position is occupied by Germany with 92.46 percent.
About US Chamber of Commerce (USCC):
President and CEO – Suzanne Clark
Headquarters – Washington, D.C, United States (US)
>> Read Full News
BANKING & FINANCE
SEBI extends deadline for Client-Level Segregation & Monitoring of Funds On February 24, 2022, the Securities and Exchange Board of India (SEBI) extended the deadline for the implementation of Client Level Segregation of Funds and Monitoring of Collateral at Stock Brokers to May 2, 2022 from February 28, 2022.
- The guidelines on client-level segregation were notified in 2021 by SEBI amid instances of misuse of client collateral by brokers.
- This is the second time SEBI has extended the deadline for these rules. Earlier, it was supposed to be implemented from December 1, 2021.
About SEBI’s Segregation & Monitoring of Funds norms:
The new rules for segregating and monitoring are aimed at further strengthening the protection of client collateral from misuse by Trading Member (TM) or Clearing Member (CM) and default of such members and other clients.
i.TM and CM have to report disaggregated information (segment-wise and asset type-wise break-up) of each client collateral. Besides, CM will be required to maintain at least 50% of the total collateral in the form of cash or cash equivalents (futures and options, currency, and commodities) with Clearing Corporations (CCs).
- CMs guarantee trade settlement to stock exchanges on behalf of clients.
ii.At the individual client level, a client can have allocation of cash equivalent, less than the value of non-cash collateral provided by the client. The minimum 50% cash equivalent collateral requirement will not be applied at the client level.
About Security Exchange Board of India (SEBI):
Chairman– Ajay Tyagi
Headquarters– Mumbai, Maharashtra
NHPC Signs Pact with HDFC Bank to Monetise RoE of Chamera-I Power PlantOn 24th February 2022 State-owned National Hydropower Generation Company (NHPC) limited signed a facility agreement with HDFC bank limited to securitise return on equity (RoE) of its 540 MegaWatt (3 X 180 MegaWatt) Chamera-I Power Plant in Himachal Pradesh for 10 years.
About the agreement:
i.The facility agreement is in compliance with the Regulation 30 of Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015
ii.The amount of securitization facility has arrived Rs. 1,016.39 crore at 5.24% per annum and the discounting rate is linked with 3 months Treasury bills (T-Bills).
iii.Background – In December 2021, NHPC’s board had approved the proposal for monetisation by securitisation through a bidding process of RoE of Chamera-1 Power Station (3 X 180 MW), Himachal Pradesh and further to monetise RoE of one or more power stations for 5 or 10 or 15 years in one go or rollover.
About Chamera-I Power Station:
i.Chamera-I Power Plant (3 x 180 MW) is an underground powerhouse with an installed capacity of 540 MW houses 3 units of 180 MW capacity each designed which generates 1664.56 million units of hydropower from river Ravi in Chamba district of Himachal Pradesh.
- The power plant comprises a 121 metre high, 295-metre long concrete arch-gravity dam with a 9.5-metre diameter, 6.414-kilometre long headrace tunnel.
ii.The beneficiary states/Union Territories (UTs) of the powerhouse are Uttarakhand, Uttar Pradesh (UP), Delhi, Himachal Pradesh (HP), Haryana, Jammu & Kashmir (J&K), Punjab, Rajasthan and Chandigarh.
About HDFC Bank Limited:
Establishment – 1994
Headquarters– Mumbai, Maharashtra
Managing Director & CEO– Sashidhar Jagdishan
Tagline– We understand your world
Star Health, South Indian Bank enters into Bancassurance Partnership to Offer Health InsuranceSouth Indian Bank (SIB) has joined hands with Star Health and Allied Insurance Company Limited as a corporate agent to provide innovative health insurance products for the SIB’s ~6.5 million customers spread over 923 branches across India.
- The SIB’s customers can avail benefits of Star Health’s retail insurance products and group affinity products through the SIB’s distribution channels.
- The partnership will enable the South Indian Bank customers to financially safeguard themselves from rising healthcare costs.
- Star Health and Allied Insurance is India’s first Standalone Health Insurance provider.
About South Indian Bank (SIB):
Headquarters – Thrissur, Kerala
MD & CEO – Murali Ramakrishnan
Tagline – Experience Next Generation Banking
About Star Health and Allied Insurance Company Limited:
Establishment – 2006
Headquarters – Chennai, Tamil Nadu
Wholetime Director & CEO – V. Jagannathan
RBI cancels CoR of PC Financial Services operating ‘Cashbean’ app
On 24 February 2022, The Reserve Bank of India (RBI) canceled the certificate of registration (CoR) issued to PC Financial Services Private Limited, Delhi due to increase in complaints against usurious rate of interest and unfair recovery practices being followed by several digital lenders.
- The action was taken under Section 45-IA (6) (iv) of the Reserve Bank of India Act, 1934.
- The PC Financial Services Private Limited used to carry out its lending operations through an app called Cashbean.
i.It is the first instance when such regulatory action taken against an entity
ii.It is now debarred from transacting the business of a Non-Banking Financial Institution (NBFI) under RBI Act, 1934.
iii.The company has also violated Know Your Customer (KYC) norms and was also found to be charging usurious rates of interest and other charges to its borrowers in an illegal manner. It was also using the RBI and the Central Bureau of Investigation (CBI) logos for recovery from borrowers in violation of the Fair Practices Code.
iv.Earlier the Directorate of Enforcement (ED) seized bank gateway funds worth Rs 288 crore belonging to PC Financial Services vide three seizure orders issued under the provisions of the Foreign Exchange Management Act, 1999 (FEMA).
About Reserve Bank of India:
Headquarters- Mumbai, Maharashtra
Founded-1 April 1935
About PC Financial Services Private Limited:
Directors- Shishir Shah, Vaibhav Mishra, Raghuvir Gakhar
Headquarters- Gurugram, Haryana
ECONOMY & BUSINESS
Ideal Finance rebrands its name to Mahindra Ideal Finance ltdIdeal Finance Ltd, a subsidiary of Mahindra and Mahindra Financial Services Ltd, announced to rebrand its company as Mahindra Ideal Finance Ltd (MIFL).The purpose of the renaming is to make MIFL into one of the leading licensed finance companies (LFC) in Sri Lanka.
i.Mahindra Ideal Finance Ltd (MIFL) is a joint venture of Mahindra Finance and Ideal Group.
ii.The entity was rebranded to Mahindra Ideal Finance in order to enhance its customer value base and offer a wider suite of products.
- It would include gold loans, leases for personal vehicles, commercial trucks, two and three-wheelers, consumer finance loans and personal loans.
About Ideal Finance limited:
Chairman-Nalin Jayaraj Welgama
Headquarters- Colombo, Sri Lanka
About Mahindra and Mahindra Financial Services Ltd:
It was started as Maxi Motors Financial Service Limited but in 1992 it was renamed to Mahindra and Mahindra Financial service Limited.
Headquarters- Mumbai Maharashtra
Non-Executive Chairman- Dr.Anish Shah
APPOINTMENTS & RESIGNATIONS
IDBI Bank reappointed Rakesh Sharma as MD & CEO for 3 years The IDBI Bank has reappointed Rakesh Sharma as the Managing Director and Chief Executive Officer (MD&CEO) of the bank for the term of three years, effective March 19, 2022.
- He was initially appointed as the MD&CEO of the bank in October 2018.
i.The re-appointment is based on the approval of the Reserve Bank of India.
ii.In 2019, LIC (Life Insurance Corporation) picked up a 51 per cent stake in IDBI Bank and later, in 2020, it reduced to 49.24 per cent. Currently, the government of India and LIC hold 94.71 per cent in the bank.
About Rakesh Sharma:
i.Previously, Rakesh Sharma served as the MD&CEO of Canara Bank and retired from this position in July 2018.
ii.He also served as the MD&CEO of Laxmi Vilas Bank from March 2014 to September 2015 and associated with the State Bank of India (SBI).
About IDBI Bank:
i.An Indian Private Sector Bank providing financial and banking services.
ii.Subsidiary of Life Insurance Corporation of India (LIC).
- Tagline: Banking for All
- Established: 1964
- HQ: Mumbai, Maharashtra
Milma Chairman KS Mani Elected to the Board of Directors of NCDFIK S Mani, Chairman of Kerala Co-operative Milk Marketing Federation (KCMMF), known by its brand name ‘Milma’ has been elected to the Board of Directors of the National Cooperative Dairy Federation of India (NCDFI) based at Anand, Gujarat. NCDFI is the apex body of dairy and edible oil cooperatives in India.
- The election was held at the Special General Body meeting of the NCDFI, held at Anand, Gujarat
About K S Mani:
i.K S Mani took charge as the Chairman of KCMMF in July 2021.
ii.He is also serving as the Chairman of the Malabar Regional Cooperative Milk Producers Union(MRCMPU).
About National Cooperative Dairy Federation of India (NCDFI):
i.National Cooperative Dairy Federation of India (NCDFI) was established in 1970.
ii.In 1984, NCDFI started functioning as the apex body of the cooperative dairy industry.
iii.The NCDFI has 19 Regular Members, 13 Associate Members and National Dairy Development Board (NDDB) as its Institutional Member.
Headquarters– Anand, Gujarat.
ACQUISITIONS & MERGERS
CCI Approves Acquisition of Stakes in ISMT by Kirloskar Ferrous Industries LtdThe Competition Commission of India (CCI) has approved the acquisition of stakes in ISMT Limited by Kirloskar Ferrous Industries Limited, a flagship company of Kirloskar Group.
- The Proposed Combination is notifiable under Section 5(a) of the Competition Act, 2002.
Acquirer: Kirloskar Ferrous Industries Ltd.
Target: ISMT Limited.
About the acquisition:
i.Under the proposed combination, Kirloskar Ferrous Industries proposes to acquire sole control of the ISMT, pursuant to the subscription of preferential allotment, equity shares as per the terms of the Securities Subscription Agreement (SSA) dated 25th November 2021, and an open offer to acquire up to 25.05% of the Emerging Voting Capital of the ISMT, as per the Securities and Exchange Board of India(SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
ii.Under this combination, Kirloskar Ferrous Industries seeks to acquire up to 51.25% of the EmergingVoting Capital of the ISMT and will acquire up to 76.3% of the Emerging Voting Capital of the ISMT.
Kirloskar Ferrous Industries and ISMT have entered into an Unsecured Loan Agreement in relation to the grant of an unsecured loan amounting to Rs 194 crore by Kirloskar Ferrous Industries to ISMT.
SCIENCE & TECHNOLOGY
Rural Development Minister Giriraj Singh Launches Ombudsperson App for MGNREGAOn 24th February 2022 Union Minister for Rural Development and Panchayati Raj Giriraj Singh launched the ‘Ombudsperson App’ for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), a step towards e-governance for ensuring transparency and accountability.
- The Ombudsperson App has been developed by the ‘Ministry of Rural Development’.
- Participants – Union Minister of States for Rural Development and Steel Faggan Singh Kulaste; Union Minister of State for Rural Development, Consumer Affairs, Food and Public Distribution Sadhvi Niranjan Jyoti; Union Minister of State for Panchayati Raj Kapil Moreshwar Patil; Rural Development Secretary Nagendra Nath Sinha; and Joint Secretary (MGNREGA) Rohit Kumar have participated in the event.
About Ombudsperson App:
i.The app has been developed for smooth reporting and categorization of grievances by Ombudsperson based on complaints from various sources viz. physical, digital and mass media, related to the implementation of the MGNREGA Scheme in the States/ Union Territories (UTs).
- After joining the Ombudsperson, the Registration of Ombudsperson will be done by the State.
- At present, the reporting of complaints, passing awards and disposal of complaints are in physical form.
ii.The app will also enable easy tracking of awards by Ombudsperson on each case as per the guidelines and can easily upload the quarterly and annual reports on the website through the app.
About Ombudsperson (or Ombudsman):
i.An Ombudsman is an official who is appointed by the Government (private organisation can also have an ombudsman) to investigate an individual’s complaints against a company, financial institutions, businesses, organisation, especially a government department or public entities and attempts to resolve the complaints either by process of mediation or giving recommendations.
ii.In India, The Lokpal and Lokayukta Act, 2013 was enacted to establish Lokpal for the Union and Lokayukta for States to perform the functions of Ombudsman in India.
About Ministry of Rural Development:
Union Minister – Giriraj Singh (Constituency – Begusarai, Bihar)
Minister of state – Faggan Singh Kulaste (Constituency – Mandla, Madhya Pradesh); Sadhvi Niranjan Jyoti (Constituency – Fatehpur, Uttar Pradesh)
Boeing Delivers 12th P-8I Patrol Aircraft to Indian Navy On 24th February 2022 United States (US)-based aerospace company Boeing delivered 12th Maritime Patrol Aircraft Poseidon-8I (P-8I).This aircraft becomes the 4th of the four additional aircraft delivered under the options contract signed by the Ministry of Defence in 2016.
- The Indian Navy was the first international customer for the P-8 aircraft in 2009.
- The P-8I is an integral part of the Indian Navy’s fleet and has surpassed 35,000 flight hours since it was inducted in 2013.
i.In 2009, the Ministry of Defence (MoD) had signed a contract for eight P-8I aircraft and in 2016, another contract was signed for four additional P-8I aircraft.
ii.In May 2021, the US State Department had approved the proposed sale of six P-8I patrol aircraft with an estimated cost of USD 2.42 billion.
About P-8I aircraft:
i.P-8I, an Indian variant of P-8A, is designed for long-range anti-submarine warfare (ASW), anti-surface warfare (ASuW), and intelligence, surveillance and reconnaissance (ISR) missions.
ii.It is capable of high speeds (upto 789 kilometres per hour) and has a high endurance of about 10 hours.
iii.The aircraft also acquired the features of superior maritime surveillance and reconnaissance capabilities with operational readiness.
Note – Boeing is completing the construction on the training support and data handling centre at INS Rajali in Arakkonam, Tamil Nadu, and a secondary centre at the Naval Institute of Aeronautical Technology in Kochi.
i.The aircraft is being operated by the Indian Navy primarily to carry out surveillance in the Indian Ocean region.
- Boeing Defence India (BDI), Boeing’s local entity in India, provides training to Indian Navy flight crews, spare parts, ground support equipment and field-service representative support.
ii.The aircraft is also operated by the US Navy, United States, the Royal Australian Air Force, Australia, the United Kingdom’s Royal Air Force, United Kingdom and the Royal Norwegian Air Force, Norway.
About Ministry of Defence (MoD):
Union Minister – Raj Nath Singh (Constituency – Lucknow, Uttar Pradesh)
Minister of state – Ajay Bhatt (Constituency – Nainital-Udhamsingh Nagar, Uttarakhand)
Tennis: Spain’s Carlos Alcaraz Won Men’s Singles Title 2022 Rio Open; Becomes Youngest ATP 500 Winner Spain’s Carlos Alcaraz Garfia (18 years old) has won the Men’s Singles title at the 2022 Rio Open, defeating Diego Schwartzman of Argentina. The 2022 Rio Open was held from 14th February to 20th February 2022 at Jockey Club Brasileiro, Rio de Janeiro, Brazil.
This is Carlos Alcaraz’s first ever Association of Tennis Professionals(ATP)500 trophy and he has become the youngest ATP 500 Winner.
2022 Rio Open:
- 2022 Rio Open is the 8th edition of the Rio Open and it is a part of the selected group of 13 tournaments named ATP 500(ATP Tour 500) of 2022 ATP Tour.
About Rio Open:
i.Rio Open presented by Claro is the first ATP World Tour 500 tournament held in Brazil and it was also the 1st WTA tournament held in Rio de Janeiro, Brazil.
ii.It is one of the ATP 500 tournaments which is played on clay, along with Barcelona and Hamburg.
iii.The first edition of the tournament was held in 2014 – “2014 Rio Open”. Spaniard Rafael Nadal was the champion of the 1st edition.
iv.Starting from 2017, Rio Open became an ATP only tournament.
About Carlos Alcaraz Garfia:
i.The 2022 Rio Open title marks the 2nd career title and 2nd tour level title of Carlos Alcaraz. He previously won the 2021 Croatia Open held in Umag.
ii.He has also won the 2021 Next Generation or Next Gen ATP Finals held in Milan, Italy.
iii.As of 21st February 2022, Carlos Alcaraz is ranked 20th on the ATP Ranking (Singles). The list is topped by Novak Djokovic(Serbia) followed by Daniil Medvedev(Russia) and Alexander Zverev(Germany).
2022 Rio Open Doubles title:
Fabio Fognini and Simone Bolelli of Italy won the 2022 Rio Open Doubles title defeating Jamie Murray(the United Kingdom) and Bruno Soares(Brazil).
- This win marks their 4th tour level double titles together.
- They have previously won the 2015 Australian Open, 2011 ATP Studena Croatia Open(Umag) and 2013 Copa Claro(Buenos Aires).
Golf: Australia’s Hannah Green Won TPS Murray River 2022; Becomes 1st Woman to Win Pro Mixed-Gender Event
Hannah Green (World Rank 30) of Australia has won the 72 hole mixed-gender professional golf tournament at the TPS Murray River 2022 event in Australia and became the first woman to win the Pro Mixed-Gender Event.
She has won the 2019 Women’s Professional Golfers Association(PGA) Champion.
- The Players Series Tournaments, introduced in 2021, a part of the PGA Tour of Australasia, have men and women competing in the same field.
- Total Prize Money is AU$200,000 Hannah Green won 36,000 in Australian dollars ($25,837).
CM Zoramthanga presented Mizoram’s budget for FY23 worth Rs 14,008.15 cr
On February 24, 2022, Pu Zoramthanga, the Chief Minister (CM) of Mizoram who also holds the finance portfolio presented the state budget for 2022-23 with the total receipt from Revenue Receipt and Capital Receipt is estimated to be Rs 14,008.15 crore for BE 2022-23, which is Rs 2,859.26 crore higher than BE of 2021-22, i.e., 26.65%.
- He also presented the supplementary demands for grants for the 2021-22 fiscal, amounting to Rs 6,025.44 crore.
- No new taxes were levied in the budget.
- Revenue Receipt for the year 2022-2023 is Rs 11,426.21 crore.
i.The state government aims to maintain a revenue surplus of Rs 1,419.69 crore, by exploring all potential avenues for increasing revenue income, with the constitution of the Mizoram Resource Mobilisation Committee.
ii.Of the total outlay, 28.57% has been earmarked for capital expenditure, while revenue expenditure accounts for 71.43% of the estimate.
iii.The GSDP (gross state domestic product) for 2022-23 is estimated to be Rs 39,458.50 crore, a growth rate of 16.76% as against the current year’s figure of Rs 33,793.15 crore.
iv.Rs 700 crore budgeted for Mizoram’s flagship Socio-Economic Development Policy (SEDP) for the 2022-2023 fiscal, compared to Rs 400 crore in the previous budget.
- Under this, at least 60,000 families would be provided with initial financial assistance of about Rs 50,000 per family for sustainable growth.
- Click here to read more about the report.
Governor– Dr Hari Babu Kambhampati
Wildlife Sanctuaries– Ngengpui Wildlife Sanctuary, Lengteng Wildlife Sanctuary, and Khawnglung Wildlife Sanctuary
Heritage site– Kawtchhuah Ropuithe
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Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 26 February 2022|
|1||GoI Approves Continuation of IVFRT Scheme till 2026 With The Outlay of Rs 1,364.88 Crore|
|2||MoD signs Rs 1075cr contract with BEL for 957 Commander MWIR Sights in T-90 Tanks|
|3||WEF and India’s NIUA collaborate on Sustainable Cities- India Programme|
|4||Delhi Cabinet approved India’s first’ e-waste eco-park ; framed Delhi film policy 2022|
|5||GoI to Promote ‘Heal by India’ to Strengthen Educational Institutes in Health Sector|
|6||MeitY Launches 3D manufacturing policy, Aims to Achieve 500 Products by 2025|
|7||USCC-GIPC’s International IP Index 2022 – India Ranked 43rd; US Tops|
|8||SEBI extends deadline for Client-Level Segregation & Monitoring of Funds|
|9||NHPC Signs Pact with HDFC Bank to Monetise RoE of Chamera-I Power Plant|
|10||Star Health, South Indian Bank enters into Bancassurance Partnership to Offer Health Insurance|
|11||RBI cancels CoR of PC Financial Services operating ‘Cashbean’ app|
|12||The/Nudge Foundation, Ashirvad Pipes, GoI Announces The/Nudge Prize- Ashirvad Water Challenge|
|13||Ideal Finance rebrands its name to Mahindra Ideal Finance ltd|
|14||IDBI Bank reappointed Rakesh Sharma as MD&CEO for 3 years|
|15||Milma Chairman KS Mani Elected to the Board of Directors of NCDFI|
|16||CCI Approves Acquisition of Stakes in ISMT by Kirloskar Ferrous Industries Ltd|
|17||Rural Development Minister Giriraj Singh Launches Ombudsperson App for MGNREGA|
|18||Boeing Delivers 12th P-8I Patrol Aircraft to Indian Navy|
|19||Tennis: Spain’s Carlos Alcaraz Won Men’s Singles Title 2022 Rio Open; Becomes Youngest ATP 500 Winner|
|20||Golf: Australia’s Hannah Green Won TPS Murray River 2022; Becomes 1st Woman to Win Pro Mixed-Gender Event|
|21||CM Zoramthanga presented Mizoram’s budget for FY23 worth Rs 14,008cr|