Current Affairs 4 & 5 September 2022

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NATIONAL AFFAIRS

PM Narendra Modi commissions India’s first Indigenous Aircraft Carrier INS Vikrant in Kochi; Unveiled New Ensign of Navyi.On September 2, 2022, Prime Minister (PM) of India Narendra Modi commissioned India’s first indigenous aircraft carrier Indian Naval Ship (INS) Vikrant at Cochin Shipyard Limited (CSL) in Kochi, Kerala.
ii.Designed by Indian Navy’s in-house Warship Design Bureau (WDB) and built by CSL, a Public Sector Shipyard under the Ministry of Ports, Shipping & Waterways, it showcased Aatmanirbhar credentials during Azadi ka Amrit Mahotsav.
iii.He also unveiled the new Naval Ensign “Nishaan” showcasing Indian maritime heritage. He dedicated the new ensign to Chhatrapati Shivaji.
iv.He laid foundation stone of Rs 4,500-cr rail infrastructure, metro projects in Kerala.
About Indian Navy:
Chief of Naval Staff (CNS)– Admiral R Hari Kumar
Founded– 26 January 1950
Headquarters– New Delhi, Delhi
>> Read Full News

RIL Conducted Its 45th Annual General Meeting in 2022Reliance Industries Limited (RIL) held its 45th Annual General Meeting (AGM) 2022 via video conferencing for the third consecutive year on August 29, 2022, and RIL Chairman & Managing Director (CMD) Mukesh Ambani made a number of announcements at the event.
Reliance Jio Infocomm Ltd (Reliance Jio) plans to launch Jio 5G services “Jio True 5G” by October 2022, as declared by Mukesh Ambani, RIL’s CMD, at the company’s 45th AGM in 2022.
JioMart, a division of Jio Platforms, an Indian tech firm owned by RIL and WhatsApp, the well-known messaging service owned by Meta Platforms Inc., based in the United States of America (USA), introduced a new shopping product in India.
Reliance Jio has teamed with Qualcomm, a chipmaker powerhouse based in California (USA) to provide 5G solutions in India.
RIL plans to establish its Fast-Moving Consumer Goods (FMCG) business in 2022 through its retail venture Reliance Retail Ventures Ltd. (RRVL).
About Reliance Industries Limited (RIL):
CMD – Mukesh Ambani
Founder Chairman – Dhirubhai Ambani
>> Read Full News

Blue Energy Motors launched India’s 1st LNG-Fuelled green truck at Chakan, Pune

On 2nd September 2022, India’s 1st Liquified Natural Gas (LNG) Fuelled Green Truck manufacturing plant has been launched by Blue Energy Motors at Chakan, Pune,Maharashtra.

• Union Minister of Road Transport and Highways, Nitin Gadkari inaugurated the launched facility with an installed capacity to make 10,000 of these trucks annually.

Key Highlights:
i.Blue Energy Motors signed an agreement already with FPT (Fiat Powertrain Technologies) Industrial, a brand of Iveco Group, headquartered in Italy, in order to introduce the 1st LNG powered by FPT industrial engines which are BS-VI compliant.
ii.The power for the truck was imposed by Iveco FPT, the global powertrain brand of Iveco Group. LNG will be a great alternative to petrol and diesel at a time when they import more trucks
iii. Blue Energy Motors will produce LNG-fuelled, heavy-duty trucks at the facility with the 5,528 4×2 tractors as the first model to be rolled out of the plant.
iv.The aim of introducing this green truck revolution is to decarbonise the environment by providing an immediate solution and breaking the barriers to economic returns.
Note: i. The FPT Industrial Engine is the most powerful natural gas engine in the market since it generates high torque.
v.The Indian Government already making LNG and CNG (Compressed natural gas) from biomass in Maharastra, Punjab, and Haryana.

DICV, IIT Madras Incubation Cell partner to accelerate future mobility solutions

On 2 September 2022, Daimler India Commercial Vehicles Private Limited (DICV), a wholly-owned subsidiary of Daimler Truck AG (Daimler Truck) signed a Memorandum of Understanding  (MoU) with Indian Institute Technology (IIT) Madras Incubation Cell (IITMIC) to set up a technology epicentre to identify mid to long-term solutions necessary for the future of Mobility.

• The partnership coined as DICV-IITMIC was inaugurated at the IIT Madras Research Park in Chennai, Tamil Nadu.
• DICV is the first Original Equipment Manufacturer (OEM) from the Indian automotive space that has partnered with an academia like IITMIC for mobility solutions.

Key points:
i.DICV in association with  IITMIC will identify, mentor and provide opportunities to Indian technology start-up companies who will work towards finding futuristic solutions for the mobility space.
Note: under this new initiative, 2 startups, Tutr Hyperloop and Ozone Motors, have been identified.
About DICV-IITMIC:
i.The DICV and IITMIC Incubator will jointly incubate Indian technology start-ups working in the areas of future mobility.

• They will also co-incubate 10-15 star ups in the areas related to mobility, manufacturing, IoT (Internet of Things) and sustainability at their incubator

ii.The main focus will be on various aspects including de carbonisation (Electric, Hydrogen), Road safety (ADAS-based safety technologies), Efficiency (Autonomous, connected vehicles, Data Analytics), Ecosystem creation (Truck as a Service) and prepare the industry for paradigm shifts in supply chain and logistics, manufacturing, product development  and other allied areas.
iii.DICV-IITMIC will leverage commercial vehicles domain expertise of DICV and academic proficiency of IITMIC to strengthen the innovation and startup ecosystem across India.
About  Daimler India Commercial Vehicles (DICV):
MD & CEO-Satyakam Arya
Headquarters- Chennai, Tamil Nadu
Founded- 2009

C&W Reports: Beijing Tops; Bengaluru Ranks Second in the Top Technology Hubs List

According to property consultant Cushman & Wakefield report titled, ‘Tech Cities: The Global Intersection of Talent and Real Estate’, Beijing, China tops the technology hubs list in the Asia-Pacific (APAC) region and is followed by Bengaluru, Karnataka.

• The report studied around 115 different tech cities across the world and has also identified Chennai, Hyderabad, and Delhi as the top technology hubs in the APAC region after Beijing.
• 46 top tech markets were identified based on 14 criteria, across Talent, Real Estate, and Business Environment metrics.

Key points:
i.Between 2017- 2021, Bengaluru stood as one of the largest contributors to office space that leases to companies on an annual average share of 25 percent to 30 percent pan-India.
ii.The Bengaluru office market contributed 38 – 40 percent (2017- 2021) of annual share towards the tech sector which is higher than the national average of 35 percent.

• Bengaluru is also known for its largest Grade A office market

iii.Bengaluru leads with 2,30,813 tech jobs created during the year 2021, followed by Chennai with 1,12,781, Hyderabad with 1,03,032 and Delhi with 89,996 jobs.
Note – Mumbai and Pune also made it to the top-10 list with eighth and ninth position in a list of 14 cities from the APAC.

UIDAI tops among all Ministries and Departments in resolving Public Grievances during August 2022

According to the Grievance Redressal Index in the Department of Administrative Reforms and Public Grievances (DARPG) monthly report (August 2022), The Unique Identification Authority of India (UIDAI) topped amongst all Ministries/Departments for resolving Public Grievances during August 2022.

• UIDAI is the top performer in resolution of cases received through the Centralized Public Grievance Redress and Monitoring System (CPGRAMS).

i.UIDAI is equipped with the robust grievance redressal mechanism,comprising UIDAI HQ (Head Quarters) Divisions, Regional Offices, Technology Centre and engaged Contact Centre partners, which is enabling UIDAI to resolve around 92% of CRM Grievances within 7 days.
ii.The new Customer Relationship Management (CRM) solution of UIDAI was designed with advanced features which provide seamless service delivery to residents.

• The new CRM solution shall have the capability to support multi-channels like Phone Call, Email, Chatbot, Web Portal, Social Media, Letter and Walk-in through which the grievances can be lodged, tracked and resolved effectively.

BANKING & FINANCE

Induslnd Bank & ADB Partners to Promote Supply Chain Finance Solutions in India

IndusInd Bank Limited has inked a pact with the Asian Development Bank (ADB) for a partial guarantee programme with an initial outlay of USD 70 million (Rs 560 crore), exclusively towards promoting Supply Chain Financing (SCF) solutions in India.
Key highlights:
i.IndusInd bank has initiated certain strategic efforts, including the launch of new product structures for SCF.
ii.It also offers funds to the entire ecosystem of a corporate entity through holistic SCF solutions, meeting end-to-end requirements of both corporate and their dealers along with suppliers.
iii.As a part of this collaboration, the IndusInd Bank aims to expand its Micro Small and Medium Enterprises (MSME) Portfolio and strengthen its strategies for MSME sector.
Note – It has recently launched a state-of-the-art digital portal for SCF, ‘earlyCredit’ which enables 24×7 seamless processing of SCF transactions for corporates, suppliers and dealers.

• The earlyCredit product is a short-term credit solution which can be availed by small merchants and the amount is credited to their bank accounts every Friday (weekend) based on the anticipation of the previous weekend sales.

About IndusInd Bank:
Managing Director (MD) & CEO – Sumant Kathpalia
Establishment – 1994
Headquarters – Pune, Maharashtra

RBI launches pilot project for digitalization of lending under Kisan Credit Card scheme in MP & TN

On 2nd September 2022, the Reserve Bank of India(RBI) has launched the pilot for end-to-end digitalisation of Kisan Credit Card (KCC) lending. the project was developed by the Reserve Bank Innovation Hub (RBIH) in association with RBI.

• The pilot project will commence in September 2022 in selected districts of Madhya Pradesh(MP) and Tamil Nadu(TN) with Union Bank of India and Federal Bank, respectively.
• Based on the learnings from the pilot, the project will be expanded to other districts in these two states and gradually across India.

Key Points:
i.The reason behind this launch is to transform the rural credit delivery system.
ii.The proposed digitalisation of the KCC lending process will make it more efficient, reduce costs for borrowers and reduce turn around time (TAT) significantly.
iii.The pilot project would entail automation of various processes within banks and integration of their systems with the service providers,
iv.At present, the process for getting rural finance (financial services offered to rural customers, including farmers, at all income levels) requires customer to visit a bank branch in-person along with proof of land ownership and other documents.

ECONOMY & BUSINESS

India overtakes UK to become world’s 5th Biggest Economy

According to Bloomberg, which has cited GDP (Gross Domestic Product) figures from the International Monetary Fund (IMF), India has overtaken the United Kingdom (UK) to become the fifth largest economy in the world.

• India pushed the UK to the 6th spot in the final three months of 2021 to become the fifth-biggest economy. The calculation is based on US dollars.
• The calculations were done using the IMF database and historic exchange rates on the Bloomberg terminal.
• According to the IMF forecasts, India is overtaking the UK in dollar terms on an annual basis in 2022, placing India behind the United States, China, Japan and Germany.

Key Points:
i.The size of the Indian economy with regards to ‘nominal’ cash was USD 854.7 billion during the quarter through March 2021 on an adjusted basis and using the dollar exchange rate on the last day of the relevant quarter. In contrast, the UK was at USD 814 billion.
ii.UK is witnessing its worst cost-of-living crisis, soaring inflation, the highest in four decades—and a potential recession that is expected to last well into 2024.
iii.The Indian economy, on the other hand, is forecast to grow more than 7% this year.
iv.A decade ago, India ranked 11th among the largest economies, while the UK was 5th.

India’s UAV ecosystem gets World’s Largest Drone Fund investment of up to USD 40 million

Japan-based USD 170 million Drone Fund (DF), one of the world’s largest Venture capital fund that specialises in supporting the Unmanned Aerial Vehicle (UAV) ecosystem plans to invest up to USD 40 million in Indian companies operating in the sector.
Japan’s largest drone manufacturer, ACSL ( Autonomous Control Systems Laboratory Ltd), has tied up with an Indian Company, Aerodyne India. Currently, Drone Fund (DF) also has a manufacturing unit in Tamil Nadu.
Key Highlights:
i.Soki Ohmae, the DF Co-founder and Managing Partner made a joint venture partnership with Arjun Aggarwal, Managing Director (MD) of Aerodyne India, to promote make-in India and expressed Japan’s tremendous faith in Indian Technology.
ii.In order to tackle the issue of battery shortage faced by the drone industry, Aerodyne focused to set up its own battery manufacturing unit in India.
iii. The Primary focus of DF is to invest in agro drones to increase crop page through scientific methods that can help drones to enable. The aim of this work is to revolutionise the agriculture method.
Note: Due to Chinese-made-Drone being found to have some security weaknesses, Indian UAVs got this huge fund.

APPOINTMENTS & RESIGNATIONS

Indian-Origin Laxman Narasimhan to be the Coffee Giant Starbucks New CEO 

Laxman Narasimhan an Indian-American business executive, has been appointed as Chief Executive Officer (CEO) of the coffee giant Starbucks. He will take over the position from October 1, 2022, and replaces Howard Schultz
Currently, Narasimhan, the CEO of UK-based health, hygiene and nutrition company Reckitt Benckiser. He has 30 years of experience in leading and advising global consumer-facing brands.

• Narasimhan will join the board on April 1, 2023. After relocating from London to Seattle, he will join as an incoming CEO.
• Before assuming the role of CEO and joining the board, he will work closely with interim CEO Howard Schultz, who stays in the role during the transition period, after that Schultz will continue as a member of the board.

SPORTS

Arjun Erigaisi wins 28th Abu Dhabi Masters Chess tournament 2022

Grandmaster Arjun Erigaisi (India) won the 28th Abu Dhabi Masters Chess Tournament 2022. The tournament was organised by Abu Dhabi Chess Club & Mind Games Federation in Abu Dhabi, United Arab Emirates (UAE).

• Arjun Erigaisi defeated David Anton Guijarro (Spain) in the ninth and final round with 7.5 points.
• He is currently India’s no. 3 and World’s no. 24tg in live ranking.

Key points:
i.In the 28th Dhabi, Masters Chess Tournament Grandmaster Arjun Erigaisi won six matches and drew three other games.

• He was awarded USD 15,000 for his victory in the chess tournament.

ii.He won against Deep Sengupta, Raunak Sadhwani, top-seed Wang Hao of China, Alexsandr Indjic, Rohit Krishna, and David Anton Guijarro. He drew the matches against Evgeny Tomashevky, Jordan Van Forest, and Ray Robson.
Erigaisi reaches career-best live world ranking of 24th, the third-best in India.
iii.Other Indians players including Nihal Sarin, S P Sethuraman, Karthikeyan Murali and Aryan Chopra, all GMs and Aditya Samant, a FIDE Master, scored 6.5 points.

OBITUARY

Carnatic vocalist T.V. Sankaranarayanan passes awayRenowned  Carnatic singer and the recipient of the Padma Bhushan award, Tiruvalangadu Vembu Iyer Sankaranarayanan (T. V. Sankaranarayanan) passed away at the age of 77 years.
About Tiruvalangadu Vembu Iyer Sankaranarayanan:
i.He was born on 7 March 1945 in Mayiladuthurai, Madras Presidency, British India (present day Chennai, Tamil Nadu).
ii.He was an Indian Carnatic vocalist (South Indian classical singer), known for his music that stems from the style of his guru, Madurai Mani Iyer.
Awards:

• Sangita Kalanidhi by the Madras Music Academy in 2003.
• Padma Bhushan in 2003 in the field of arts for his contributions to Carnatic music.
• Sangeetha Kalasikhamani by The Indian Fine Arts Society in 2005.
• Vidhya Tapasvi by TAPAS Cultural Foundation in 2012.

Renowned Historian and Scholar Sheik Ali Saheb passed away

The 98-year-old Prof B Sheik Ali Saheb passed away on 1 September 2022 after a brief illness. He was a renowned Historian and former Vice-chancellor of Goa and Mangaluru universities.
i.He was a well-known authority on Mysuru rulers (Hyder Ali & Tipu Sultan) and authored more than 30 books and edited others on various aspects of history.
ii.Sheik Ali has gone through the documents in the Persian language and carried out extensive research on Tipu. Major of his research work was related to the period of Mysuru rulers.
iii.He was the recipient of the following awards:

• Golden Jubilee Award of Mysore University
• Rajyotsava award
•  Mythical Society of India Award
•  Maulana Jauhar Award

BOOKS & AUTHORS

Renowned Indian Cardiac Surgeon Dr. Upendra Kaul Authors the Book “When The Heart Speaks: Memoirs of A Cardiologist”

Dr. Upendra Kaul, one of India’s most distinguished cardiologists, has written a book titled “When the Heart Speaks: Memoirs of a Cardiologist,” which is published by Konark Publishers Private Limited.

• The book is an honest account of the heart touching events of Kashmiri Pandit Dr. Upendra Kaul, who, while travelling to various locations, longed for a home in his hometown of Kashmir.

Key Points:
i.Dr. Upendra Kaul is a native of the scenic village of Hawal in Jammu & Kashmir.
ii.He was among the first in India to utilize ballooning to open up arteries and other non-surgical procedures while at the All India Institute of Medical Sciences (AIIMS).

• He has a great reputation across the world as a teacher and scholar.

iii.For his services to Indian medicine, he was given the Dr. B.C. Roy Award for the year 1999 and the Padma Shri Award in 2006.

IMPORTANT DAYS

5th Rashtriya Poshan Maah 2022: September 1 – 30The Ministry of Women and Child Development (MoWCD) organized the 5th Rashtriya Poshan Maah 2022 from 1st to 30th September 2022.

• It aims to improve nutritional outcomes for children under 6 years of age, pregnant women and lactating mothers.
• As part of the 5th Rashtriya Poshan Maah, the MoWCD  plans to rope in the Gram Panchayats as Poshan Panchayats.
• The 5th Rashtriya Poshan Maah  aims to convert Jan Andolan (People’s Movement) into Jan Bhagidari (People’s Participation).

The key focus will be  on “Mahila aur Swasthya” (Woman and Health) and “Bacha aur Shiksha” (Child and Education).
>> Read Full News

International Vulture Awareness Day 2022 – September 3 International Vulture Awareness Day(IVAD) is annually observed across the globe on the first Saturday of September. The day aims to create awareness about the importance of Vultures and to recognise the vital work carried out by conservationists to preserve the Vultures.

The International Vulture Awareness Day 2022(IVAD 2022) falls on 3rd September 2022. 

• IVAD 2021 was observed on 4th September 2021. 
• IVAD 2023 will be observed on 2nd September 2023. 

The IVAD initiative is jointly run by the Birds of Prey Programme of the Endangered Wildlife Trust in South Africa and the Hawk Conservancy Trust in England.
Background:

• The International Vulture Awareness Day began in South Africa and the United Kingdom(UK) and later became a global event by the IUCN SSC (International Union for Conservation of Nature Species Survival Commission ) Vulture Specialist Group.
• The International Vulture Awareness Day (IVAD) was started in 2006 by the Hawk Conservancy Trust and the Endangered Wildlife Trust’s Birds of Prey Programme.

Events in India:

i.Society for Wildlife Conservation, Education and Research (Wild-CER), India has organized a one day seminar on ‘Status of vulture conservation efforts in India’ on 4th September 2022.

ii.World Wide Fund for Nature-India(WWF-India) has launched “Bring Back the Vultures”, a poster on Vulture Species in India. The poster highlights the 9 species of Vultures found in India and features illustrations and conservation information on each species.

About World Wide Fund for Nature India(WWF-India):
President– Arvind Wable
Established in 1969
Headquarters– New Delhi, Delhi
>> Read Full News

National Small Industry Day 2022 – August 30
National Small Industry Day is annually observed across India on 30th August to recognise the importance and contribution of the small-scale businesses in India.

• The small-scale sector plays a key role and is a major growth indicator in the Indian economy that contributes around 40 percent to the gross industrial value of the country’s economy.

Background:
The erstwhile Ministry of Small-Scale Industries (now, Ministry of Micro Small and Medium Enterprises (MSME)) decided upon celebrating 30th August as  National Small Industry Day annually in 2000.

• A comprehensive policy package for small-scale industries (SSI) in India was announced 30th August 2002.
• For the first time, on August 30, 2001, the ministry organised a convention for entrepreneurs in the SSI in New Delhi along with award distribution.

About Small Scale Industries in India:
i.India comprises more than 6.3 crore of MSME that could access International markets and also work as an international entity.
ii.SSI contributes around 40 percent of the total exports done by India and also contributes towards forex reserves that reduces India’s balance sheet.
Initiatives:
i.CHAMPIONS portal – CHAMPIONS (Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength) is the single window system and a unified, empowered, robust, bundled and technology driven platform for promoting the MSMEs.
ii.UDYAM – Udyam is a free registration portal for MSMEs  launched in 2020 for availing the benefits of schemes or programmes of the Ministry of Micro, Small & Medium Enterprises.

• Udyam Registration Certificate, an e-certificate is issued after the registration process which has a dynamic QR Code through which the web page of the registration portal and details about the enterprise can be accessed.

iii.National SC-ST Hub – The National SC/ST Hub, implemented by the Ministry of MSME through the National Small Industries Corporation (NSIC), to provide professional support to Scheduled Caste and Scheduled Tribe Entrepreneurs to fulfil the obligations under the Central Government Public Procurement Policy for MSME.
About Ministry of Micro, Small and Medium Enterprises (MoMSME):
Union Minister – Narayan Tatu Rane (Rajya Sabha, Maharashtra)
Minister of state – Bhanu Pratap Singh Verma (Jalaun (SC), Uttar Pradesh)

STATE NEWS

Chhattisgarh formed Mohla-Manpur-Ambagarh Chowki as 29th District 

On 2nd September 2022, Chhattisgarh Chief Minister (CM) Bhupesh Baghel inaugurated Mohla-Manpur-Ambagarh Chowki as the 29th district of Chhattisgarh.

• CM Bhupesh Baghel is scheduled to inaugurate the newly formed 30th district ‘Sarangarh-Bilaigarh’ and the 31st district ‘Khairagarh-Chhuikhadan-Gandai’.

Key Highlights:
i.In order to reduce the travel distance for the people to reach the Headquarter, the district was engraved from the Rajnandgaon district by reducing 170 kilometres to 70 kilometres.
ii.The map of the new district was inaugurated as well as development works worth Rs.160 crore were unveiled by CM Bhupesh Baghel during the grand launch.
About Chhattisgarh:
Governor- Anusuiya Uikey
Dance forms- Pandavani; Jhirliti; Rahas
Dams- Dudhawa Dam; Gangrel Dam

Kiccha Sudeep Appointed Brand Ambassador of Punyakoti Dattu Yojana

The government of Karnataka appointed Kannada actor and director Kiccha  Sudeep as the brand ambassador for its ‘Punyakoti Dattu Yojana’, a cattle adoption scheme.

• The scheme aimed at encouraging adoption by the public for the purpose of rearing cattle in ‘goshalas’ (cow shelters).

i.Kiccha  Sudeep will help in publicizing the Punyakoti cattle adoption scheme which is implemented to promote people’s partnership in cow conservation.

• He is famous for his remarkable roles in films such as ‘Pailwan’, ‘Eega (Makkhi)’, ‘Vikrant Rona’, ‘Sparsha’, ‘Huchcha’ and ‘No 73 Shanthi Nivasa’.

TBI Director Lucy Hayter launches Generation Global Programme in A.P. and Tamil Nadu

United Kingdom(UK) based Tony Blair Institute (TBI) for Global Change and Canadian NGO (non-governmental organisation) Children Believe partnered and launched a ‘Generation Global Programme’ for schools and colleges in Andhra Pradesh and Tamil Nadu, at the Zilla Parishad High School at Ragimanupenta, Andhra Pradesh.
The programme was launched by TBI for Global Change Director Lucy Hayter.

• The initiative of this programme is aimed at transforming the mindset of school and college students between the age of 13 and 17 years to make them ‘global citizens’.
• The Generation Global Programme was organised by the Rural Organisation for Poverty Eradication Services (ROPES) and the students more than 1,000 from Bangarupalem took part in the event.

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