Current Affairs 4 June 2022

We are here for you to provide the important Recent and Latest Current Affairs 4 June 2022, which have unique updates of Latest Current Affairs 2022 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

C-DOT signs agreement with VVDN Technologies & WiSig Networks to Develop 5G Open RAN

On June 2, 2022, an agreement was signed with Centre for Development of Telematics (C-DOT), WiSig Networks Private Limited, and VVDN Technologies Private Limited to collaborate in the area of Open RAN (Radio Access Network) based Radio Network for 5G solution.
What is in the agreement?
It is a step towards making India ‘Atmanirbhar’ in the field of Telecom. This collaboration will utilize technical competencies of the Indian R&D (Research & Development) industry for indigenous design, development, manufacturing and deployment of cost-effective 5G products and solutions.

• It will create new avenues for wider adoption and monetization of home-grown 5G products & solutions.
• They will work towards O-RU (Open Radio Unit) design which includes indigenously developed Hardware and software.

About entities:
i.C-DOT is the premier R&D centre of the Department of Telecommunications, Ministry of Communications, Government of India.
ii.WiSig Networks Private Limited is an upcoming startup engaged in the business of developing, marketing, and offering various communications solutions including 5G Mobile Communication Products and Solutions.
iii.VVDN Technologies Private Limited is a leading product engineering and manufacturing company in various technology domains including 5G, Networking & Wi-Fi, IoT, and cloud storage services.
Participants:
Dr. RajKumar Upadhyay, Executive Director, C-DOT; Puneet Agarwal, CEO (Chief Executive Officer), VVDN Technologies; and Founder WiSig Networks, Prof. Kiran Kuchi, among others.

GoI approves New guidelines for scheme to Promote MSMEs in NER and Sikkim

i.On June 2, 2022, the Government of India (GoI) has approved new guidelines of Central Sector Scheme (CSS) ‘Promotion of MSMEs in North Eastern Region and Sikkim’ which will be implemented during 15th Finance Commission Cycle (2021-22 to 2025-26).
ii.The scheme envisages providing financial support for enhancing the productivity and competitiveness as well as capacity building of Micro, Small and Medium Enterprises (MSMEs) in the North Eastern Region (NER) and Sikkim.
iii.Under this, maximum financial support to state governments for setting up new and modernizing existing Mini Technology Centres has been increased from Rs 10 crore to Rs 13.50 crore as 90% of the project cost.
About Ministry of Micro, Small & Medium Enterprises (MoMSME):
Union Minister– Narayan Tatu Rane (Rajya Sabha, Maharashtra)
Minister of State– Bhanu Pratap Singh Verma (Constituency- Jalaun (SC), Uttar Pradesh)
>> Read Full News

PMBI Crossed Rs 100 Crore Sales in May 2022 for 1st Time; Highest Ever Monthly Sales

Pharmaceuticals & Medical Devices Bureau of India (PMBI), the implementing agency of Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), has crossed a sales turnover of Rs 100 crores in May 2022(for the first time), this is the highest ever monthly sales record by PMBI. This has in turn saved around Rs 600 crores for Indian citizens. More than 15,000 Crore Rs. have been saved by the general public under this Pariyojana in the last 5 years.
In May 2021, during the COVID-19 second wave period, the total sales were Rs. 83.77 crore.

•  The Government of India has targeted to increase the number of  Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) to 10000 by March 2024. As of May 2022, the number of PMBJKs stands at 8735 across 739 districts across India.
• 1600 medicines and 250 surgical devices including nutraceuticals, Ayush products and Suvidha Sanitary pads(Rs 1 per pad) are made available in the PMBJKs.
•  PMBJP scheme provides for the incentive of Rs. 5 lakh and special incentives of up to Rs. 2 lakh for various categories including women, Scheduled Caste (SC)/Scheduled Tribes (ST), Hill districts, Island districts and the North-Eastern States.

NTPC Limited Releases “Biodiversity Policy 2022”

NTPC Limited, formerly known as National Thermal Power Corporation Limited, has released its Biodiversity Policy 2022, for the conservation and restoration of a balanced ecosystem.

• With this, NTPC ltd aims to mainstream the concept of biodiversity across its value chain and adopt the precautionary approach for sustainable management of biodiversity in all decision making processes to ensure earth’s diverse life in and around NTPL’s business unit.
• This also aims to adopt systematic consideration of local threats to biodiversity beyond the company’s business activities.

In 2018, NTPC became the first PSU to issue Biodiversity Policy and in 2018 NTPC also became a member of the India Business & Biodiversity Initiative (IBBI).

MoHFW commenced the 2 months long “Har Ghar Dastak campaign 2.0” 

The Ministry of Health and Family Welfare(MoHFW) has commenced the 2 months long “Har Ghar Dastak campaign 2.0” to accelerate the pace and coverage of COVID19 vaccination across all eligible age groups across States and Union territories (UTs) of India. ‘Har Ghar Dastak 2.0’ will be implemented from 1st June 2022 to 31st July 2022. 
Objective: To vaccinate and cover the eligible population groups for 1st, 2nd and precaution doses through door-to-door campaigns

• This focus on improving sub-optimal coverage of persons aged ≥ 60years with precaution dose, slower speed of coverage in the 12-14 years cohort by focussed campaigns for old age homes, schools/colleges including out-of-school children, prisons, brick kilns and others.
• This incorporates the experience and learning from the “Har Ghar Dastak campaign”, launched in November 2021.

INTERNATIONAL AFFAIRS

UN Agrees to Change Turkey’s Official Name to ‘Türkiye’

The United Nations (UN) has approved to recognise the Republic of Turkey as ‘Türkiye’, pronounced “tur-key-YAY”, following the request from the government of Turkey. “Türkiye” will now be used in all foreign languages and the country’s full official name will be “Republic of Türkiye”.

• Turkish President Recep Tayyip Erdogan noted that Türkiye is the best representation and expression of the Turkish people’s culture, civilization and values.
• The initiative of Turkey to change its name to ‘Türkiye’ on national and international platforms began in December 2021.

Key Points:
The President of Türkiye Recep Tayyip Erdogan has also advised the companies to use “Made in Türkiye” for their exported goods and has instructed the state agencies to use “Türkiye” in their correspondence.
Background:
i.Mevlüt Çavuşoğlu, Turkish’ Minister of Foreign Affairs, sent a letter addressed to Antonio Guterres, Secretary-General of the UN, requesting the use of “Türkiye” instead of “Turkey” for all affairs.
ii.Stephane Dujarric, UN spokesman, stated that the change of the country’s official name to ‘Türkiye’ became effective from the moment the letter was received.
History:
i.The use of the word Turkey dates back to the 14th century when the Latin term “Turchia/Turquia” meant “the land of Turks”.
ii.Later the Latin name was transformed into “Türkiye” in Turkish, Turkey in English, “Turkei” in German and “Turquie” in French.
iii.After the declaration of independence in 1923, the country called itself ‘Türkiye’
iv.The name Turkey has been used by foreigners for centuries to define the core area of the Ottoman Empire and later its successor state, the Republic of Turkey.
About Türkiye:
President– Recep Tayyip Erdoğan
Capital– Ankara
Currency- Turkish lira

BANKING & FINANCE

HDFC Ltd. ties with Accenture to Digitally Transform Lending Business

On June 2, 2022, the Housing Development Finance Corporation (HDFC) Ltd. partnered with Accenture for digitizing its lending business by using a cloud-native platform for application, processing, credit underwriting and disbursement.

• Under this partnership, HDFC Ltd. will also deploy machine learning, automation and advanced analytics to make it a straight-through and paperless process for the customer.

Key Points:
i.Developed using human-centric design principles, the platform includes a user-friendly mobile application and web-based portal for customers.
ii.This will reduce the time taken for customer onboarding, and will also provide  real-time visibility into their home loan application status and other related service requests anytime, anywhere.
iii.A mobile application with a specially designed, gamified user experience will also help HDFC’s large sales field force and channel partners track business leads and service customers in real time.
About HDFC Ltd:
Managing Director– Renu Sud Karnad
Tagline– With You, Right Through
Headquarters– Mumbai, Maharashtra

ToneTag Emerges Winner In 2 Categories of RBI’s First Global Hackathon HARBINGER 2021

ToneTag, a brand of Naffa Innovations Pvt Ltd, has been named the winner of two categories in the Reserve Bank of India’s (RBI) first global hackathon, HARBINGER 2021-Innovation for Transformation”.

• The HARBINGER 2021 hackathon was organized to encourage entrepreneurs to come up with innovative products for smarter digital payments.

ToneTag, headquartered in Bengaluru, Karnataka, offers voice-based commerce and payment solutions.
HARBINGER 2021

i. In November 2021, the RBI launched its first global hackathon, “HARBINGER 2021-Innovation for Transformation,” with the theme “Smarter Digital Payments.”

• It received a positive response, with 363 proposals from India and 22 other countries, including the United States (US), the United Kingdom (UK), Sweden, Singapore, the Philippines, and Israel.

ii.It was conducted in three phases: proposal shortlisting in the first, solution development in the second, and final evaluation in the third. The third phase of final evaluation took place in Bengaluru, Karnataka, on May 26-27, 2022.

• Winners and runners-up are chosen based on criteria such as innovation, technology, demonstration, user experience, security, and ease of implementation.

Winners & Runner-ups of HARBINGER 2021
i. ToneTag won two categories: “Innovative, easy-to-use, non-mobile digital payment solutions for converting small-ticket cash transactions to digital mode” & “Context-based retail payments to remove the physical act of payment.”
ii.In addition to the above-mentioned segments, there were two more: “Alternate authentication mechanism for digital payments” & “Social Media Analysis and Monitoring tool for detection of digital payment fraud and disruption,” for a total of four categories.

• The other two categories were won by Indian companies napID Cybersec Pvt Ltd & TrustCheckr, respectively.
• The runner-ups were Extolabs LLC (US); neoEYED (US); Sperotel Technologies LLP (India); Ezetap Mobile Solutions Pvt Ltd (India); and Lalit Kumar Pagaria (India).

Potential Benefits of The Innovative Products of HARBINGER 2021
i. The innovative products are projected to deliver additional benefits to the payment ecosystem, such as non-mobile payment solutions for the disadvantaged, prevention of digital payment fraud through smart-secure alternate authentication methods, and timely analysis of social media posts. Some of the products also offer a seamless payment experience to the customers.
ii.The products are likely to gain wider adoption and can be integrated with current payment infrastructure, if they meet all regulatory standards.
iii. They can help to make digital payments more convenient and accessible while also improving customer protection.
Click here for the result of RBI’s 1st Global Hackathon – HARBINGER 2021

India INX & LuxSE Signs Agreement to Strengthen Cooperation

The Luxembourg Stock Exchange (LuxSE) and the India International Exchange (IFSC) Limited (India INX) signed a cooperation agreement in the Gujarat International Finance Tec (GIFT) City in Gujarat.

• Under the agreement, the two exchanges will enhance the visibility of listed Indian securities to international investors by facilitating admission of such securities on LuxSE.

With this, the two international exchanges take another step toward bridging the gap between India and international capital markets and bolstering cross-border cooperation in sustainable finance.
The agreement was signed in the presence of Peggy Frantzen, Luxembourg’s Ambassador to India.

• A Memorandum of Understanding (MoU) between the two exchanges was signed earlier in 2020 for this purpose, with a specific focus on advancing green finance in India.

PFC Lists EUR 300-Million Green Bonds on Luxembourg Green Exchange
During the occasion, the admission of a green bond issued by the Indian company Power Finance Corporation Limited to LuxSE was announced.

• The Power Finance Corporation Limited (PFC), a Government of India (GoI) Central Public Sector Enterprise (CPSE), has listed its maiden EUR 300 million green bonds on the Luxembourg Green Exchange (LGX) of the Luxembourg Stock Exchange (LuxSE) Securities Official List. This bond is already listed on India INX.

The LGX, a world’s leading platform for sustainable securities, was founded in 2016 to advance the sustainable finance agenda, and the United Nations (UN) has since recognised it for its effort to accelerate climate-friendly investment.

• This listing of Indian green bonds marks the beginning of the admission of Indian securities to the LuxSE.

PFC’s Green Bonds:
PFC’s green bond has a 7-year maturity and provides funding for renewable energy projects in India, such as onshore solar and wind energy generation facilities.

• This green bond follows the November 2021 listing on LuxSE of State Bank of India’s (SBI) USD 650 million green bond.

Key Takeaways:
i. The cooperation agreement between India INX and LuxSE will help to establish IFSC as a sustainable finance hub.
ii.Strong cooperation between the two exchanges will expand the investor base for issuers listed on India INX, by enhancing the visibility of such securities to international investors.

• Indian issuers will gain from increased international visibility and more exposure to the international investment community.

About Power Finance Corporation Limited (PFC):
It is an infrastructure finance company under the administrative control of the Ministry of Power, GoI.
Chairman & MD – Ravinder Singh Dhillon
Establishment – 1986.
Headquarters – New Delhi, Delhi.

ECONOMY & BUSINESS

SBI revises up FY23 Economic Growth Forecast to 7.5%

The State Bank of India (SBI) has projected Indian economy to grow at 7.5% in 2022-23 which is an upward revision of 20 basis points from its earlier estimate.

• Real GDP (Gross Domestic Product) will increase by Rs 11.1 lakh crore in FY23 which will be a growth of 7.5%, up by 20 basis points over previous forecast.
• Nominal (GDP) will also grow 16.1% to Rs 275 lakh crore in FY23.
• There will be an inflation averaging at 6.5-6.7% in FY23.

Key Points:
i.The economy grew by 8.7% in FY22, net adding Rs 11.8 lakh crore in the year to Rs 147 lakh crore. However, this was only 1.5% higher than the pre-pandemic year of FY20.
ii.In FY22, around 2,000 listed companies reported 29% top line growth and 52% jump in net profit over FY21.
iii.Construction sectors including cement, steel, etc reported impressive growth in both revenue as well as net income with 45 per cent and 53 per cent, rise respectively in revenue.

AWARDS & RECOGNITIONS        

Queen’s Birthday Honours list 2022: Author Sir Ahmed Salman Rushdie received Companion of Honour(CH)

Sir Ahmed Salman Rushdie (74 years old), an Indian-born British novelist and the author of the 1981 Booker Prize-winning novel “Midnight’s Children”, leads the list Queen’s Birthday Honours list 2022, featuring more than 40 professionals and community champions of Indian origin.
In the list released on 1st June 2022, Sir Ahmed Salman Rushdie is named the Companion of Honour(CH) for services to literature.

• CH is a special award granted to people who make a major contribution to the arts, science, medicine, or government lasting over a long period of time.
• CH is an exclusive club with a membership limited to just 65 people at any given time.

About Sir Ahmed Salman Rushdie:
i.Ahmed Salman Rushdie, born in Bombay (now Mumbai, Maharashtra), India, is a storied author of non-fiction, an essayist, and a noted humanist.
ii.He has authored around 14 novels which include, The Satanic Verses; Midnight’s Children; Two Years Eight Months and Twenty-Eight Nights; The Golden House; and Quichotte.
iii.He was knighted in 2007 for his services to literature.
Queen’s Birthday Honours’ list 2022:
i.The Queen’s Birthday Honours mark the extraordinary contributions and service of people across the United Kingdom (UK).
ii.This 2022 list shows everyone who has been given the honour in 2022 for the Queen’s birthday.
iii.These lists are published each year on the Queen’s official birthday in June.
iv.The 2022 Queen’s birthday honours also coincide with the Platinum Jubilee, the 70th anniversary of the accession of Queen Elizabeth II on 6 February 1952.
Click here to access the complete list of The Queen’s Birthday Honours 2022
Note: 
A total of 1,134 candidates have been named for honours across different fields by the U.K. Cabinet Office – which compiles the list, with 13.3% of the successful candidates from an ethnic minority background.
Highlights: 
Some of the Indian origin awardees among The Queen’s Birthday Honours 2022 are,

The other honourees to receive high honours include Ian James Rankin, a Scottish crime writer, who was honoured with Knight Bachelor; English actor Damian Watcyn Lewis, with Commander of the Order of the British Empire and Fashion designer Stella Nina McCartney with Commander of the Order of the British Empire.

THE Awards Asia 2022: Shoolini University, Highly Commended Under Outstanding Support for Students

Shoolini University of Biotechnology and Management Sciences in Solan, Himachal Pradesh has been highly commended under the “Outstanding Support for Students” category of the Times Higher Education (THE) Awards Asia 2022. 3 Indian institutes were recognised in THE Awards Asia 2022
Taylor’s University, Malaysia was declared a winner under the Outstanding Support for Students category. 

• Savitribai Phule Pune University, Pune, Maharashtra has won the ‘THE Awards Asia 2022’ under the “THE Datapoints Research Improvement Award” category.
• Amity University-Online, India’s first university recognized by University Grants Commission(UGC) to offer Online Degree, Diploma & Certification programs has won the award under the “Student Recruitment Campaign of the Year” category.

About Shoolini University:
i.The Shoolini University of Biotechnology and Management Sciences established in 2009 is a research-driven private university recognised by UGC.
ii.The Shoolini University has received accreditation from National Assessment and Accreditation Council (NAAC) and it is ranked by the National Institute Ranking Framework (NIRF).
About THE Awards:
i.THE Awards, dubbed as “Oscars of Higher Education” offer an important international platform to recognise and applaud outstanding leadership and institutional performance.
ii.The Asian Awards recognise the achievements of higher education in Asia.
iii.The Asian Awards are awarded under 10 categories, Leadership and Management Team of the Year; Workplace of the Year; International Strategy of the Year; Teaching and Learning Strategy of the Year; THE Datapoints Impact Award; THE Datapoints Research Improvement Award; Excellence and Innovation in the Arts; Technological or Digital Innovation of the Year; Outstanding Support for Students; and Student Recruitment Campaign of the Year.
Clik here for the list of THE Awards Asia 2022 winners
Shortlist 2022:
The shortlist for the “THE Awards Asia 2022” was announced on 31st March 2022. India and Malaysia take lead as best represented countries on the shortlist with 11 and 10 entries respectively, followed by China with 8 entries.

Forbes: LeBron James became the 1st Active NBA Player to Become Billionaire 

According to the Forbes estimation, LeBron Raymone James Sr., an American professional basketball player representing the Los Angeles Lakers of the National Basketball Association (NBA), has officially become a billionaire with a net worth of USD 1 billion.

• LeBron James nicknamed as “King James” has become the 1st ever active NBA player to become a billionaire.
• LeBron James has won 4 NBA championships and has been named NBA Most Valuable Player (MVP) Award 4 times. He was selected to play in the NBA All-Star Game a record 18 consecutive times.

Michael Jordan became the first NBA player to become a billionaire in 2014, almost 11 years after he retired as a player.

APPOINTMENTS & RESIGNATIONS  

SAI DG Sandip Pradhan Tenure Extended till 2024 by ACC

Appointment Committee of Cabinet(ACC) extended the service tenure of Sports Authority of India(SAI)’s Director General Sandip Pradhan to another two years till 30th September 2024.
Key Information
i.He was an Indian Revenue Services(IRS) officer of 1990 batch, was to end his current tenure on July 6 but has been granted an extension till September 30, 2024.
ii.In 2019, Sandip Pradhan replaced Neelam Kappor as the Director General of Sport Authority of India.
About Sports  Authority of India (SAI)
Sports Authority of India (SAI) was set up in 1984 to carry forward the legacy of the IXth Asian Games held in New Delhi in 1982 under the Department of Sports.

• Established as a Society registered of Societies Act, 1860.

BBB of India Approved Appointment of Managing Directors in UBI,IOB,Punjab & Sind Bank

The Banks Board Bureau (BBB),an Autonomous Body of Government of India,has recommended the names for the positions of Managing Director & CEO in Union Bank of India (UBI), Indian Overseas Bank (IOB) and Punjab & Sind Bank (PSB).
Key Information
i.Manimekhalai, executive director at Canara Bank, has been recommended as the MD & CEO of Union Bank of India (UBI) for extension of term by two years or until her date (March 2026).

• She succeeded Rajkiran Rai G, whose tenure ended on May 31. 
• She is  first woman to be appointed as the MD & CEO of UBI.

ii.Ajay Kumar Srivastava, Executive Director at IOB, has been recommended and Selected as the MD & CEO of the IOB.He will replace Partha Pratim Sengupta.
iii. Swaroop Kumar Saha has been recommended and subsequently appointed as the MD & CEO at the Punjab & Sind Bank.He succeeded S Krishnan who retired in May 2022.
About Banks Board Bureau(BBB)
Founded – 2016
Chairman – Bhanu Pratap Sharma
Headquarters – Mumbai,Maharashtra

SCIENCE & TECHNOLOGY

India’s First & Asia’s Largest International Liquid-Mirror Telescope Commissioned at Devasthal Hill, Uttarakhand

India has commissioned its first and Asia’s largest International Liquid-Mirror Telescope (ILMT) atop Devasthal hill, in the Indian Himalayas, in Uttarakhand. It became the world’s first liquid-mirror telescope to be commissioned for astronomy.
It is situated at an altitude of 2450 metres at the Devasthal Observatory campus of Aryabhatta Research Institute of Observational Sciences (ARIES).

• The liquid-mirror telescope will monitor the sky for transient or variable objects like supernovae, gravitational lenses, space debris, and asteroids.

Key Features of The International Liquid-Mirror Telescope (ILMT)
i. The International Liquid Mirror Telescope (ILMT) is a 4-meter (m) class telescope project in which multiple institutions from several countries are actively involved, including Belgium, Canada, India, and Poland.
ii.The telescope was designed and built by the Advanced Mechanical and Optical Systems (AMOS) Corporation and the Centre Spatial de Liège in Belgium.
About Aryabhatta Research Institute of Observational Sciences (ARIES):
ARIES is one of the leading research Institutes which specializes in observational Astronomy & Astrophysics and Atmospheric Sciences.
Located – Nainital, Uttarakhand
Establishment – 2004
>> Read Full News

OBITUARY

Santoor Maestro Padma Shri Pandit Bhajan Sopori Passed AwaySantoor Maestro and Padma Shri awardee Shri Pandit Bhajan Lal Sopori passed away. He often referred to as the ‘saint of santoor‘ and ‘king of strings’ for his mastery over the instrument.
Key Information
i.He was born in Sopore in Kashmir Valley in 1948 and belonged to the Sufiana gharana of Indian classical music. 
iii. Awards & Recognition:-

• He received Padma Shri in 2004 (Art-Music-Instrumental), the Sangeet Natak Akademi Award in 1992, and the Jammu and Kashmir State Lifetime Achievement Award.
  
• In 2009 he was honoured with the Baba Allaudin Khan Award and M N Mathur award in 2011 for his contribution to Indian classical music.
• The Indian Postal Department honoured Bhajan Sopori with a Rs 5 stamp in 2011 as a special tribute for his exceptional work in the world of art and culture.

iii.He was great-grandson of Krishnarao Shankar Pandit, who had developed the style popularly known as the ‘Sufi Baaj’ (style)
iv.Santoor Sopori wrote music for nearly 6,000 songs in almost every Indian language, including Hindi, Kashmiri, Dogri, Sindhi, Urdu, Bhojpuri, even Persian and Arabic.
About Santoor Instrument
i.The Indian santoor is a trapezoid-shaped hammered dulcimer that is a variant of the Iranian Santur. 
ii.The instrument is built primarily of walnut and has 25 bridges. Each bridge has four strings, for a total of 100.
iii.  It is a traditional instrument from ancient times in Jammu and Kashmir.

IMPORTANT DAYS

World Bicycle Day 2022 – June 3rd 

The United Nations (UN)’s World Bicycle Day is annually observed across the globe on 3rd June to create awareness about the social, economic and environmental benefits of cycling.
The day also celebrates the uniqueness, durability, and versatility of the bicycle and promotes Bicycles as a simple, sustainable means of transportation.
Background:
i.In April 2018, during the 72nd Regular Session of the United Nations General Assembly(UNGA), the UNGA adopted the resolution A/RES/72/272 and proclaimed the 3rd June of every year as World Bicycle Day.  The resolution was adopted by a consensus of 193 members.
ii.The first UN-designated World Bicycle Day was observed on 3rd June 2018. 
Events in India:
On 3rd June 2022, The Ministry of Youth Affairs and Sports organised World Bicycle Day 2022 as a part of the celebration of Azadi ka Amrit Mahotsav-India@75.
Anurag Singh Thakur, Union Minister for Youth Affairs & Sports launched the Nationwide programmes from Major Dhyan Chand Stadium, Delhi. He also participated along with 750 Young Cyclists in a rally.
>> Read Full News

STATE NEWS

Tata Motors signs MoU to acquire Ford India’s Sanand plant

Tata Passenger Electric Mobility Limited (TPEML), a Tata Motors Ltd subsidiary, and Ford India Private Limited (FIPL) signed a Tripartite memorandum of understanding (MoU) with the Gujarat government for the potential acquisition of Ford’s passenger vehicle manufacturing plant at Sanand, Ahmedabad, Gujarat. 
Key Information
i.The Ford India vehicle manufacturing site at Sanand is a state-of-the-art site with a capacity to provide direct employment to 3,043 people and indirect employment to 20,000 more.
ii.Now TPEML would acquire the land and buildings, a car manufacturing facility, machinery, and equipment, as well as all eligible personnel of FIPL Sanand’s vehicle manufacturing operations, under the terms of the MoU, subject to the signing of definitive agreements and the obtaining of necessary permits.
iii.TPEML would invest in new machinery and equipment required to commission and prepare the plant for vehicle production with an installed capacity of 300,000 units per year with the projected investments, that would be further scalable to more than 400,000 units.
iv.MoU also entails continuation of the state support agreement signed between Gujarat government and Ford India Pvt. Ltd. in 2011, which now includes Tata Passenger Electric Mobility Limited.
About Gujarat
Capital: Gandhinagar
Governor: Acharya Devvrat
Chief minister –Bhupendrabhai Rajnikantbhai Patel

ECI Appoints Cricketer Yash Dhull As State Icon for NCT of Delhi

Election commission of India(ECI) has appointed Indian cricketer Yash Dhull,  as the ECI State Icon for National Capital Territory(NCT) of Delhi to encourage the youngsters of Delhi. As the ECI State Icon Yash Dhull will educate and motivate the youngsters to enrol themselves in the electoral roll. He will also participate in college-level voter awareness events.

• Yash Dhull was the captain of the 2022 International Cricket Council (ICC) Men’s Under 19 World Cup-winning Team. He made his first-class cricket debut for the Delhi Cricket Team in the 2021-22 Ranji Trophy.

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