Current Affairs 31 December 2022

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NATIONAL AFFAIRS

MCA extends virtual AGMs & EGMs till September 2023The Ministry of Corporate Affairs (MCA) has allowed companies to hold their Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs) through video conference (VC) mode till September 30, 2023.

• This extension is applicable for companies whose financial year ends on December 31, 2022, and March 31, 2023.

Highlights:
i.EGM can be held through VC till September 30, 2023 for passing of any type of Ordinary and Special Resolution
ii.AGM can be held through VC for the FY ended March 31, 2023 or any previous financial years till September 30, 2023 for conducting of any Special or ordinary business.
Key Points:
i.It should be noted that this extension will not confer any extension of time for holding of AGMs by the companies under the Companies Act 2013.
ii.Companies that have not adhered to the relevant timelines will be liable for legal action under the provisions of the Companies Act 2013.
iii.This benefit was started during the pandemic-hit years.
iv.In May 2021, the MCA had extended virtual AGM facility till December 2022 in respect of companies that were to hold AGM in 2022.

TRAI recommends 10-year Renewal for Multi-System Operators’ RegistrationsOn December 29, 2022, the Telecom Regulatory Authority of India (TRAI) has issued its recommendations on ‘Renewal of Multi-System Operators (MSOs) Registration’.

• It has recommended that the renewal of registration of multi-system operators (MSOs), who are master cable operators, should be done for a 10-year period and the process fee kept at Rs 1 lakh.

MSOs are large cable operators, who provide cable or direct-broadcast satellite television channels to consumer homes via local cable operators (LCOs).
Key Points:
i.All such registrations, which have either expired or are about to expire within the next eight months should be deemed to expire after eight months from the date of implementation of the rules/guidelines for renewal.
ii.Window for applying for renewal of registrations should open not earlier than 7 months from the date of expiry and not later than 2 months prior to the date of expiry.
iii.The application process for renewal shall be made end-to-end online with facility to upload all the documents in digital mode via single point facility i.e., Broadcast Seva Portal.
Background:
The Ministry of Information and Broadcasting (MIB) had asked for TRAI recommendations on the matter, since the Cable Television Networks Rules, 1994, did not have a provision for the renewal of MSO registrations.
About Telecom Regulatory Authority of India:
It is IS/ISO 9001-2015 Certified Organisation.
Chairman– Dr. PD Vaghela
Headquarters– New Delhi, Delhi

Atal Incubation Centre (AIC) signs agreements with MSMEs to hasten commercialisation of new productsAtal Incubation Centre (AIC) at the Bhabha Atomic Research Centre (BARC) headquartered in Mumbai, Maharashtra signed an agreements with Micro, Small and Medium Enterprises (MSMEs) for incubation of newer technologies into commercial products.

• The agreement was signed to commemorate tha launch of the AIC at the BARC to speed up to conversion of products from research labs to markets.
• Under the framework of AIC-BARC, The scientists at the BARC will mentor the incubate industries for further improvisation and development of market-ready products.

Key points: 
Ajit Kumar Mohanty, Director of BARC, representatives of AIM, NITI Aayog and senior members of DAE also attended the launch of the centre.
Key Points:
i.The incubation agreements were signed for technologies in line with the global commitments of India to achieve net zero (carbon neutrality) like, access to access to safe drinking water, and growth of potential import substitutes for advanced and affordable healthcare.
ii.The technologies includes,

• Alkaline Water Electrolyser for Green Hydrogen production,
• DC Accelerator for Wastewater Treatment,
• novel Gamma Monitoring,
•  X-Band LINAC-based X-ray source for radiotherapy machines.

About AIC-BARC:
i.The AIC-BARC was introduced as one of the 3 projects of Self reliance of Department of Atomic Energy(DAE), under the Prime Minister’s Office(PMO). It was established under the aegis of the Atal Innovation Mission(AIM) a flagship initiative set up by the National Institution for Transforming India (NITI Aayog) to create and promote the culture of innovation and entrepreneurship in India.
ii.The launch of AIC-BARC was announced in 2020 Budget by Finance Minister Nirmala Sitharaman.
About  Bhabha Atomic Research Centre (BARC): 
Director– Dr. Ajit Kumar Mohanty
Headquarters– Mumbai, Maharashtra

G20 India: IISc to be secretariat for Science 20 (S20)- G20 science working group

The Indian Institute of Science (IISc) based in Bengaluru, Karnataka is set to be the secretariat of the S20 – Science 20, the science working group of the Group of Twenty (G20).

• The Science 20 (S20) 2023 will work towards resolving common global-level challenges like poverty.

Science 20(S20): 
i.S20 will play a major role in resolving global concerns such as poverty and unite the development efforts of the G20 member nations.
ii.The S20 summit represents the efforts of India to develop a new course for progress.

• The theme of the S20 2023 is “Disruptive Science for Innovative and Sustainable Development”.

iii.The S20 2023 will focus on creating a framework that supports the development of responsible technologies, encouraging  internet protocol (IP) sharing and technological transfers, and startup mentorship programmes and funding.
Key Points:
i.IISc stated that, discussions in various regions of India on this wide issue will take place throughout the year.
ii.Three issues will be discussed at the discussions in Agartala(Tripura), Lakshadweep, and Bhopal(Madhya Pradesh):

• universal holistic health
• clean energy for a greener future
• bridging science and society.

iii.In addition to the discussions, there will be an inaugural conference in Puducherry and a summit meeting in Coimbatore, Tamil Nadu.
Additional info: 
i.The G20 has been working to address several global issues, such as sustainable development and mitigating climate change.
ii.G20 established a number of working groups,  including Science 20 or S20, to work toward this goal.
About G20:
i.The Group of Twenty (G20) is the premier forum for international economic cooperation comprising 19 countries and the European Union (EU).
ii.India holds the Presidency of the G20 from December 1, 2022 to November 30, 2023.
iii.The theme of India’s G20 Presidency – “Vasudhaiva Kutumbakam” or “One Earth. One Family.

Kerala’s Dharmadam Becomes First Complete Library Constituency in IndiaDharmadam, the constitution of Kerala Chief Minister Pinarayi Vijayan became first and only constituency in India to have a library in all the wards.

• Out of the total 138 wards in the constituency, there were no libraries in 63 wards and Dharmadam reached the achievement with the opening of libraries in all wards in the constituency.

Key highlights:
i.The constituency has made libraries available with complete librarianisation was made possible with the support of all sections of the people of the constituency.
ii.The People’s Mission for Social Development, a people’s organisation, has taken up the work of establishing libraries and expanding the existing ones in Dharmadam constituency.

• Puthuvayil Narayana Panicker of Kerala is also known as the Father of the Library Movement in India.
• The District Library Council and local self-governing bodies became active participants in these activities.

Note – Kerala is the first state to achieve 100 % literacy status in India.

National Health Authority release beta version of HMIS

National Health Authority (NHA) has released a beta version of the lightweight, robust, and  Ayushman Bharat Digital Mission-compliant Hospital Management Information System (HMIS).

• The goal of this HMIS solution is to give healthcare professionals a digital platform, particularly focusing on private clinics and small health facilities.
• The Ayushman Bharat Digital Mission (ABDM), which aims to build the foundation for India’s digital health infrastructure, is being implemented by NHA as the nodal agency.
• The beta version of this HMIS offers ABDM compliant, Facility Management, Digital Services, and e-prescription Services.
• The NHA also invites healthcare providers to participate in its beta-testing based on the trusted Cowin Platform. The virtual beta-testing workshop is scheduled on 4th January 2023.

BANKING & FINANCE

IRDAI makes KYC mandatory from January 1, 2023The Insurance Regulatory and Development Authority of India (IRDAI) has made Know Your Customer (KYC) norms mandatory for the purchase of all new insurance policies, irrespective of their premiums, starting January 1, 2023.

•         This rule will apply to all types of insurance — life, general and health insurance. 

Current Scenario:
i.At present, KYC documents are not mandatory for buying non-life or general insurance policies such as health insurance, auto insurance, and travel insurance policies.

•         Currently, only at the time of claim in health insurance policies, especially if the claim value is greater than Rs 1 lakh, the customer is required to submit the PAN (Permanent Account Number) card and Aadhar.

ii.Till now, sharing KYC documents is a voluntary choice by the customer while purchasing a new general insurance product.

•         Currently, a policyholder is required to provide PAN card or Form 60 if the aggregate insurance premium is Rs 50,000 or more in a financial year.

Key Points:

i.For existing customers, the insurers will collect the KYC documents within a specified time frame.

•         The time limit will be two years for ‘low-risk’ policyholders and one year for other customers including ‘high-risk’ customers.

ii.The new rule will require customers to provide KYC documents when purchasing a new policy, rather than waiting until a claim is made.
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairperson – Debasish Panda
Headquarters – Hyderabad, Telangana
Establishment – 1999 (Incorporated on 1st April 2000)

MahaMetro to Raise Rs 3,586 crore for Nagpur Metro phase-II from ADB & EIBThe MahaMetro Corporation has finalised its debt arrangement and raised a loan of Rs. 3,586 crore from Asian Development Bank (ADB) and the European Investment Bank (EIB) for the second phase of its Metro project in Nagpur.

• Around 630 million Euros was arranged during the first phase of the project and was funded by France’s Agence Française de Développement (AFD) and German KfW Development Bank (KfW), a German agency.

Key highlights:
i.ADB would be contributing USD 200 million whereas EIB would be contributing around 239 million Euros to the project.
ii.Both, phase I and phase II will collectively lead to an investment of Rs 15,388 crore. The total cost of the second phase of the project is around Rs. 6,700 crore, out of which Rs. 3,100 crore is in the form of equity from both Central and State governments.
iii.In the first phase of the project construction, the estimated amount was Rs 8,680 Crores. The funding for the first phase was a mix of debt and equity of 50% each.
About Nagpur Metro Phase-II
i.The Phase II of the project will extend the existing 4 corridors of Phase-I covering a total distance of 43.8 km. The second phase will be completed by 2026.
ii.The 43.8 km of the corridor will extend to Kanhan in North, Butibori MIDC in South, Transport Nagar (Kapsi) in East and Hingna in West.

• MIHAN – MIDC ESR (18.6 km)
• Automotive Square – Kanhan River (13.0 km)
• Prajapati Nagar – Kapsi (5.5 km)
• Lokmanya Nagar – Hingna (6.7 km)

iii.It comprises 1.2 km at-grade with 2 stations and 42.6 km elevated with 30 stations and will also connect the satellite cities like Transport Hub at Kapsi, Industrial areas of Hingna and Butibori and Mining areas at Kanhan, with only one interchange at Sitabuldi.
About Asian Development Bank (ADB):
President – Masatsugu Asakawa
Establishment – 1966
Headquarters – Mandaluyong City, Metro Manila, Philippines
Members – 68 members (49 from Asian and the Pacific and 19 outside)

Niva Bupa & Swara Fincare inks pact to pay debtors’ EMIs when they are hospitalised for 5 years

Niva Bupa Health Insurance Company Limited (formerly Max Bupa Health Insurance) signed a pact with Swara Fincare Limited, a non-banking-lender, to pay the debtors’ 3 EMIs(equated monthly instalments) if they were hospitalised for more than 5 days.

• According to Niva Bupa, less than 20% of the rural population currently has health insurance.
• Niva Bupa Health Insurance and Swara Fincare are collaborating to democratise health insurance in India to close the gap when the debtor was hospitalised.
• According to Niva Bupa, India has a sizable rural-urban divide that is made even clearer when it comes to access to high-quality healthcare in rural areas.

APPOINTMENTS & RESIGNATIONS  

Benjamin Netanyahu Sworn in as Israel’s new Prime Minister On 29th December 2022, Benjamin Netanyahu was sworn in as Israel’s 25th Prime Minister (PM) for the 6th time, leading the right-wing Likud party, and Israel is set to get its 37th government.

• Benjamin Netanyahu was sworn in following his presentation to the Knesset (Israeli parliament) coalition agreements signed by 6 parties on 28th December 2022.
• Benjamin Netanyahu succeeds Yair Lapid, who served briefly as PM (July 2022- December 2022).

Key points:
i. Benjamin Netanyahu received the support of 63 lawmakers in the 120-member Knesset (Israeli parliament). In the house, 54 lawmakers voted against his government.
ii. The lawmakers support the new government of all right-wing, including Benjamin Netanyahu’s Likud party supported by the ultra-orthodox Shas, United Torah Judaism, the far-right Otzma Yehudit, the Religious Zionist Party, and Noam.
iii. His coalition of nationalist and religious parties won a parliamentary majority in an election on 1st November 2022.
iv. Benjamin Netanyahu announced the appointment of 31 ministers and 3 deputy ministers. His appointment includes Itamar Ben-Gvir, convicted in 2007 of incitement against Arabs and support for a Jewish militant group, as the Minister for Police.
About Benjamin Netanyahu:
i. Benjamin Netanyahu was born on 21st October 1949 in Tel Aviv, Israel. He was the longest-serving PM since Israel’s Independence.
ii. Before being chosen as a Likud party member to the Knesset in 1988, he served in a number of ambassadorial positions.
iii. From 1988 to 1991, he held the positions of Deputy Minister of Foreign Affairs (1988-1991) and Deputy Minister in the coalition government of Prime Minister Yitzhak Shamir (1991-1992).
Benjamin Netanyahu’s PM Terms:

• In 1996,  Benjamin Netanyahu was elected PM of Israel for the 1st time.
• In 2009, for the 2nd time.
• In 2013, for the 3rd time.
• In 2015, for the 4th time.
• In 2020, for the 5th time.

About Israel:
President- Isaac Herzog
Prime Minister- Benjamin Netanyahu
Capital- Jerusalem
Currency- Israeli Shekel

Ex-ITDC MD G Kamala Vardhana Rao takes charge as CEO of FSSAI On 29th December 2022, Ganji Kamala Vardhana Rao, a 1990 batch IAS officer from the Kerala cadre, was appointed as the Chief Executive Officer (CEO) of the Food Safety & Standards Authority of India (FSSAI).

• Kamala Vardhana Rao was previously the Chairman & Managing Director (CMD) of the Indian Tourism Department Corporation (ITDC), a Miniratna Public Sector Undertaking (PSU) under the Ministry of Tourism.

Prior to Kamala Vardhana Rao, Arun Singhal was the CEO of FSSAI (2020-2022).
About G Kamala Vardhana Rao:
i. G Kamala Vardhana Rao served as the Secretary of Kerala Tourism from 2014 to 2015.
ii. In 2019, he was the Principal Secretary of the General Administration Department at the Government of Kerala in Trivandrum.
iii. Kamala Vardhana Raohas held various roles over 3 decades including Principal Secretary of the Public Works Department and Food and Civil Supplies; Chairman of the Indian Tobacco Board; Director of the Department of Fisheries and so on.
About the Food Safety & Standards Authority of India (FSSAI):
The FSSAI was established under the Food Safety and Standards Act of 2006 on 23rd August 2006.
Chairperson- Rajesh Bhushan
CEO- G. Kamala Vardhana Rao
Headquarters- New Delhi, Delhi            

SCIENCE & TECHNOLOGY

IAF successfully test-fires extended range version of BrahMos air missileOn December 29, 2022, the Indian Air Force (IAF) successfully test-fired the extended range version of BrahMos air launched missile against a ship target from a SU-30MKI aircraft.

• The missile achieved the desired objectives in the Bay of Bengal region.
• This successful test firing was a joint effort by the Air Force, Indian Navy, the Defence Research and Development Organisation (DRDO), Hindustan Aeronautics Limited (HAL), and the BrahMos Aerospace (BAPL).

Key Points:
i.The range of the missile is ~450-km, and travels at a speed of 2.8 Mach or almost thrice the speed of sound.
ii.In 2017 the first live launch of the aerial version of this missile was tested successfully from the frontline Su-30 MKI fighter aircraft. With this, IAF became the first Air Force in the world to have successfully fired an air launched category of missile on a sea target.

Home Minister Launches Mobile App ‘Prahari’ and Manual of Border Security ForceOn 29th December 2022, Union Minister of Home Affairs Amit Shah launched the Border Security Force (BSF) Mobile App ‘Prahari‘ and revised version of 13 Manuals of BSF in New Delhi, Delhi.
Attendees – Union Minister of State for Home Affairs Nityanand Rai, Union Home Secretary, Director General of BSF, Chief Secretaries of Union Territories and several senior officers of the Ministry of Home Affairs, Union Territories and BSF were also present on the occasion.
Key highlights:
i.The BSF ‘Prahari’ app is a great example of Proactive Governance. Jawans can get personal information and information related to accommodation, Ayushmann-CAPF and leaves on their mobiles.
ii.They can also get all the information regarding General Provident Fund (GPF), Bio Data or grievance redressal on ‘Centralised Public Grievance Redress and Monitoring System’ (CP-GRAMS) or information on various welfare schemes through the app.

• This app will also connect the jawans with the Ministry of Home Affairs (MHA) portal.

Note – The BSF has been honoured with numerous gallantry awards including one Mahavir Chakra, 4 Kirti Chakras, 13 Vir Chakras and 13 Shaurya chakras.
Other programmes:
Prime Minister (PM) Narendra Modi has recently started the Vibrant Village programme, through which the Border Security Forces shall make efforts towards increasing tourism in the village, making the village self-sufficient with complete facilities.

OBITUARY

Brazilian Footballer Legend & 3 Time FIFA World Cup Winner Pelé Passed Away Former Brazilian Footballer and 3 time FIFA(Fédération Internationale de Football Association) World Cup Winner Pelé(real name:  Edson Arantes do Nascimento), passed away at the age of the age of 82 in State of São Paulo, Brazil.
He was nicknamed O Rei (The King) and fondly known as “The King of Football”.
About Pelé: 
i.Pelé was born as “Edson Arantes do Nascimento” in city of Tres Coracoes in Minas Gerais state, Brazil.
ii.He started playing football at the age of 15 and joined the Brazil National Team at 16.
iii.He holds the record for all time leading scorer of brazil national football team with 77 goals which he scored in 92 appearances.
iv.He scored the most number of goals in football’s history. He scored a total of 1,283 goals in 1,366 matches. He scored more than 500 goals in unofficial matches played against semi-professional tools.
v.During his international career, he won three FIFA World Cups: 1958, 1962 and 1970 and He is the only Men’s football player to have won 3 FIFA World Cup titles.
vi.In January 1995, then President of Brazil, Fernando Cardoso, appointed Pelé as minister of sports.
Pelé’s Law:
i.Pelé worked towards bringing accountability to the business operations of Brazil’s professional teams, which were still run largely as gentlemen’s clubs
ii.In 1998, Pelé’s Law, as it was known, passed.

• Pelé law is a Brazilian law that required clubs to incorporate as taxable for-profit corporations and to publish balance sheets. It required that players be 20 before signing a professional contract and gave them the right of free agency after two years (instead of after age 32).

STATE NEWS

Union Minister Nitin Gadkari inaugurates the new Zuari bridge in Goa

On 29th December 2022, Nitin Gadkari, Minister of Road Transport and Highways of India, inaugurated the new Zuari bridge in Goa, which links North and South Goa.
Zuari bridge is India’s 2nd largest Cable Stayed bridge, located on NH-17/NH-66 on the Panjim (Goa)-Mangaluru (Karnataka) section in the state of Goa.

• The 13.20-kilometre cost 2530 Crores and the 8-lane bridge connecting Bambolim and Verna over the Zuari River will greatly improve transportation between North and South Goa.
• Strengthening the connection for Mormugao Port Trust will cut the travel time between North Goa and South Goa by 30 minutes.

Pramod Sawant, Chief Minister of Goa; Shripad Naik, Minister of State (MoS) for Ports, Shipping and Waterways and Tourism; Nilesh Cabral, Minister for PWD in Goa government; and Vinay Tendulkar, Member of Rajya Sabha were present during the inauguration.

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