Current Affairs 5 July 2022

We are here for you to provide the important Recent and Latest Current Affairs 5 July 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

NITI Aayog Releases ‘Mitigation and Management of COVID-19: Compendium of Ayush-Based Practices from Indian States and Union Territories’

National Institution for Transforming India(NITI) Aayog released ‘Mitigation and Management of COVID-19: compendium of Ayush-based practices from States and Union territories (UTs)’ which details information about various Ayush-based initiatives and practices adopted by the States and UTs in India for containing and managing the COVID-19 outbreak.

• Suman Bery, Vice-Chairman, NITI Aayog, and Dr. Munjpara Mahendrabhai Kalubhai, Minister of State for Ayush and Women and Child Development (WCD) released the compendium.
• The event was also attended by Dr. V K Paul, Member (Health), NITI Aayog, and Officials of NITI Aayog and the Ministry of Ayush.

Highlights:
i.This provides information focused on practices adopted by various States and UTs of India for strengthening India’s fight against COVID-19, using Ayush’s resources and interventions.

• The compendium has also included a summary of the Ministry of Ayush, Government of India guidelines, and initiatives.

ii.The practices have been segregated under 5 sections: (i) Overview and objectives of practices adopted by the States/UTs (ii) Ayush Human Resource and infrastructure (iii) Interventions and Initiatives (iv) Digital Platform and Tele-medicine (v) Issues occurred or addressed.
For more information, click here
About National Institution for Transforming India(NITI) Aayog:
Chairperson – Narendra Modi (Prime Minister of India)
CEO – Parameswaran Iyer
Establishment – 2015
Headquarters – New Delhi, Delhi

DoT signs agreement with ITI and BSNL to fund USOF projects

Department of Telecommunications (DoT), Ministry of Communications has signed an agreement with Indian Telephone Industries (ITI) Limited and Bharat Sanchar Nigam Limited (BSNL) to fund pilot projects under the Universal Service Obligation Fund (USOF).
i.DoT, BSNL and ITI Limited will fund the pilot projects of E-band, Long-Term Evolution (LTE) indigenous technologies, including the integration of 4G and 5G prototypes with the Centre for Development of Telematics (C-DoT) Core.
ii.The USOF, under its program for induction of new technological developments in the telecom sector in rural and remote areas, is funding Four pilot projects each of around Rs 10 Crores enabling the development and hardening of the technologies.
USOF is a Rs 55,000-crore strong reserve meant to provide connectivity in India’s rural and remote areas.

INTERNATIONAL AFFAIRS

Green Deal: pioneering proposals to restore Europe’s nature by 2050 and 50 % pesticide use by 2030

The European Commission has adopted pioneering proposals to restore damaged ecosystems and bring nature back across Europe, from agricultural land and seas to forests and urban environments. The Commission also proposes to reduce the use and risk of chemical pesticides by 50% by 2030.
i. The proposal for a Nature Restoration Law to repair the 80% of European habitats which are in poor condition, and to bring back nature to all ecosystems.
ii.The aim is to cover at least 20% of the EU’s land and sea areas by 2030 with nature restoration measures, and eventually extend these to all ecosystems in need of restoration by 2050.

BANKING & FINANCE

ONDC & NABARD Jointly Organised Grand Hackathon to Promote E-commerce in Agri Sector;Launched by Piyush Goyal

Union Minister Piyush Goyal virtually launched the 3-day ‘Grand Hackathon’, a hybrid event with the physical event held at the Bombay Stock Exchange (BSE) in Fort, Mumbai, Maharashtra.

• It was organised by the Open Network for Digital Commerce (ONDC), a project initiated by the Department for Promotion of Industry and Internal Trade (DPIIT) in collaboration with National Bank for Agriculture and Rural Development (NABARD).
• The “Grand Hackathon” is subdivided into two categories: the Agri Grant Challenge and the Agri Innovation Hackathon, which will highlight the ideas to support the adoption of eCommerce in the agricultural sector.

Highlights:
i.Aim – To build an open network for buyers and sellers to democratise the current e-commerce ecosystem, particularly the Farmer Producer Organisations (FPOs), mandis, processors, exporters, Micro, Small & Medium Enterprises (MSMEs) and the small retailers.
ii.The event also includes Rs. 1.2 Crore rewards or financial incentives for its winning participants.

• It is also backed by many credited national initiatives or organisations like Start-Up India, Atal Innovation Mission, Beckn & Protean.

iii.ONDC will work with Small Industries Development Bank of India (SIDBI), state SMEs, to encourage and build smart solutions that can help farmers and farm producers to make their product catalogue digitised and publish it on ONDC protocol with tracking option of orders and payments.
iv.The pilot project of the network is already open in 6 cities including Delhi, Bangalore (Karnataka), Coimbatore (Tamil Nadu), Shillong (Meghalaya), Lucknow (Uttar Pradesh), and Bhopal (Madhya Pradesh).

SEBI Extends the Deadline for Introducing DDPI System to September 1, 2022

The Securities and Exchange Board of India (SEBI), the capital markets regulator, has extended the deadline for implementation of the guidelines, related to the Demat Debit and Pledge Instruction (DDPI) for pledging and repledging of stocks for margin purposes, by 2 months, from its original date of July 01, 2022 to September 01, 2022.

• The guidelines are intended to prevent the misuse of Power of Attorney (PoA) granted by clients to stock brokers, and once implemented, PoA will be replaced with a DDPI document.

Objective: To protect the interests of investors in securities, and to promote the development and regulation of securities markets.

• The action is taken in accordance with Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996.

Demat Debit and Pledge Instruction (DDPI) system
i. Significance: Since DDPI is designed to prevent misuse of client securities by brokers using the POA system, it will be a reliable mechanism for stock brokers to gain consent from their clients for debiting and pledging their securities in the demat account.
ii.With the DDPI, clients will explicitly grant permission for the stock broker and depository participant to have access to the accounts of their beneficial owners for the limited purpose of meeting pay-in obligations for the settlement of trades they have conducted.
iii. A client can use the DDPI or complete the settlement by issuing physical Delivery Instruction Slip (DIS) or electronic Delivery Instruction Slip (eDIS) themselves.
iv.Existing PoAs, on the other hand, will be valid until revoked by the client. So, if a client refuses to execute the DDPI, the stock broker and depository participant will not directly or indirectly force the client to do so or deny services to the client.
v.Limitations of DDPI: DDPI will only be used for two purposes.

• One is for the transfer of securities held in the beneficial owner account of the client towards stock exchange related deliveries or settlement obligations resulting from trades made by such a client.
• The second purpose will be to pledge or re-pledging securities in favour of the trading member or clearing member in order to satisfy the client’s margin requirements.
• Once the guidelines are implemented, PoA will no longer be performed for these two purposes.

vi.Stock Exchanges and Depositories are required to inform their members / participants of these provisions and publish the same on their websites.

Banking Frauds of Over Rs 100 Crore Witness Significant Decline in FY22

Bank fraud involving sums over Rs. 100 crore has declined substantially, with banks reporting cases worth Rs. 41,000 crore in Fiscal Year 2021-22 (FY22), compared to Rs. 1.05 lakh crore in FY21.
Key Data:
i.According to official data, the number of fraud cases in private and Public Sector Banks (PSBs) decreased to 118 in FY22 from 265 in FY21.

• The overall number of fraud cases involving over Rs. 100 crore have decreased for PSBs, from 167 in FY21 to 80 in FY22, while they have decreased for private sector lenders, from 98 in FY21 to 38 in FY22.

ii.The cumulative amount for PSBs has decreased from Rs. 65,900 crore in FY21 to Rs. 28,000 crore in FY22.

• The decrease for private sector banks in FY22 is from Rs. 39,900 crore in FY21 to Rs. 13,000 crore in FY22.

RBI’s Effort to Check Frauds
In collaboration with Reserve Bank Information Technology Private Limited (ReBIT), the Reserve Bank of India (RBI) conducted research in 2021–2022 on the implementation of the Early Warning System (EWS) framework in a select group of Scheduled Commercial Banks. Machine Learning (ML) algorithms were utilized to assess the efficacy of EWS in a few banks.

• The RBI has taken many initiatives to prevent fraud, including enhancing the fraud governance and response system, boosting data analysis for transaction monitoring, and establishing a dedicated Market Intelligence (MI) Unit for frauds.

Banks That Reported Fraud
i. One of India’s largest bank frauds, totalling 22,842 crore, was reported by the State Bank of India (SBI) earlier in 2022 perpetrated by ABG Shipyard & promoters.

• It was much higher than the case that involved Nirav Modi and his uncle Mehul Choksi, who are accused of defrauding the Punjab National Bank (PNB) of around Rs. 14,000 crore by using fraudulent Letters of Undertaking (LoUs).

ii.The largest bank fraud investigation by the Central Bureau of Investigation (CBI) was reported in June 2022, when the agency charged Dewan Housing Finance Ltd (DHFL), its former Chairman and Managing Director (CMD) Kapil Wadhawan, Director Dheeraj Wadhawan, and others in a new case involving Rs 34,615 crore.

• According to a consortium of lenders led by Union Bank of India (UBI), the company allegedly used a credit facility worth Rs. 42,871 crore.

AWARDS & RECOGNITIONS      

Karnataka’s Sini Shetty takes the Crown of Femina Miss India 2022

On 3rd July 2022 Sini Shetty from Karnataka was crowned as 58th edition of Femina Miss India World 2022 at the grand finale of VLCC Femina Miss India, co-powered by Sephora, Moj and Rajnigandha Pearls.

• The event was hosted at the Jio World Convention Centre, Mumbai, Maharashtra

Key Highlights:
i.Other Winners – The 1st runner-up of Femina Miss India 2022 was Rajasthan’s Rubal Shekhawat and the 2nd runner-up was Shinata Chauhan from Uttar Pradesh.
ii.Jury for the event – Actors Neha Dhupia, Dino Morea and Malaika Arora, designers Rohit Gandhi and Rahul Khanna, choreographer Shiamak Davar, and former cricketer Mithali Raj.
About Sini Shetty:
i.Sini Shetty was born in 2001 in Mumbai, Maharashtra and hails from Karnataka, who is currently pursuing a course in Chartered Financial Analyst (CFA).
ii.She was crowned Femina Miss India World 2022 by her predecessor Miss India 2020, Manasa Varanasi and she will now represent India at the 71st Miss World pageant

S M Krishna, Narayana Murthy, Prakash Padukone selected for 1st edition of Kempegowda International Award 2022

Former Karnataka chief minister (CM) S M Krishna, Infosys founder and IT industry veteran N R Narayana Murthy, and former badminton player Prakash Padukone, have been selected for the first edition of the Kempegowda International Award (2022) instituted by the Karnataka government, in honour of Kempe Gowda, founder of Bengaluru city.

• The award carries a cash prize of Rs 5 lakh along with a plaque.

Key Points:
i.The committee, headed by Start-up Vision Group head Prashanth Prakash has been constituted by the government to nominate candidates for the award.

• Members – Vivekananda Youth Movement founder R. Balasubramaniam, retired IAS officer M.K. Shankarlinge Gowda and Chairman of Manipal Global Education and businessman T.V. Mohandas Pai.
• R Vinayadeep,  Kempe Gowda Heritage Area Development Authority Commissioner is the member-secretary of the committee.

ii.The announcement was made by Karnataka’s Higher Education Minister C N Ashwath Narayan, who is also the Vice-President of Nadaprabhu Kempegowda Heritage Area Development Authority.

• CM Basavaraj Bommai presented the awards during the 513th birth anniversary(27th June) of Kempegowda, the architect of Bengaluru city, at Vidhana Soudha.

Indian Startup IG Drones Wins Global Airwards Best Drone Organisation Award

The Delhi-based leading Drone enterprise platform company,IG Drones, won the “Best Drone Organization award under the Start-up Category” by Airwards.

• IG Drones was selected for the award for its approach to helping local communities and providing access to technology to diverse stakeholders during natural disasters.
• Airwards is the first panoptic global awards programme of its kind dedicated to identifying, recognizing and championing the breadth of positive drone use cases from around the world which are innovative, safe and have a real-world impact. 

APPOINTMENTS & RESIGNATIONS       

Yair Lapid officially becomes 14th PM of Israel

Former Journalist and the leader of Yesh Atid Party, Yair Lapid has officially become the 14th Prime Minister(PM) of Israel replacing PM Naftali Bennett, Israel’s shortest-serving Prime Minister.

• He took charge of the caretaker government (Interim Govt)  on midnight of 30th June 2022, after the Knesset (Israel’s unicameral parliament) was dissolved and scheduled the next election on 1st November 2022.

About  Yair Lapid:
i.Yair Lapid was  born on 5 November 1963 in Israel. He was a  journalist by profession.
ii.He worked as an editor for Yedioth Ahronoth, a major Israeli newspaper, in 1988.
iii.In January 2012, he made his political debut when he founded his Yesh Atid Party.
iv.In 2013, he became the Finance Minister in the government of then PM, Benjamin Netanyahu. In 2020, he became the leader of the opposition in the Knesset.
v.He previously served as the alternate PM of Israel and minister of Foreign Affairs from 2021 to 2022.
vi.He has authored 12 books, including one “Memories After My Death”.
About Israel:
Currency- Israeli New Shekel
President- Isaac Herzog         

SCIENCE & TECHNOLOGY

CBSE launches ‘Pariksha Sangam’ Portal to Integrate all CBSE Board Exam Activities

The Central Board of Secondary Education(CBSE) launched a  digital portal named  ‘Pariksha Sangam’ to streamline all CBSE board exams and result related activities for classes 10th and 12th.

• It is a one stop portal for all CBSE board exam activities.

Objective:
To combine all exam-related processes conducted by the school regional offices and the headquarters of the CBSE board.
Highlights:
i.Under the portal information like – CBSE circular, Latest CBSE news, reference material, sample paper, model paper, Question Bank, school results etc will be provided to the School students, Regional offices and Head Offices.
ii.The portal has three sections- Schools (Ganga), Regional Offices (Yamuna) and Head Office (Saraswati).
Pariksha Sangam Schools (Ganga) section-
The schools, students and teachers will  be able to access exam reference material, exam updates and the school DigiLockers and post-exam activities, communication, and an integrated payment system (IPS).
Pariksha Sangam Regional offices (Yamuna) section-
It provides information about E-Sandesh, Integrated Payment Monitoring for Term 1 and Data Management, Historical Information Repository of Schools, etc.
Pariksha Sangam Head office (Saraswati) section-
The CBSE students will get information regarding Exam Reference Material, Pre-Exam Date, Post Exam Data etc.
About  Central Board of Secondary Education(CBSE):
Chairperson-Nidhi Chibber
Founded-1929
Headquarters-New Delhi, Delhi

Virgin Orbit Launches 7 US Defence Satellites from Boeing 747

A Virgin Orbit’s fully mobile LauncherOne system conducted its first-ever evening flight from a modified Boeing 747 called Cosmic Girl at the Mojave Air and Space Port in California which carried 7 United States (US) Defence Department satellites.

• This is Virgin Orbit’s first-ever night flight and its fourth mission in a row.
• The orbit was approximately 500km above the Earth’s surface at 45 degrees inclination.

Key Points:
i.The launch was procured by the U.S. Space Force for a Defence Department test program and all the 7 payloads will conduct various experiments.
Note: One of seven satellites, the shoebox-sized Adler-1, will study the space debris environment to help improve researchers’ models.
ii.The seven satellites deployed by the Straight Up launch are from multiple government agencies and will facilitate experiments intended to demonstrate innovative spacecraft technologies, new approaches for satellite applications, and Earth atmospheric science.
iii.This launch was named as ‘Straight Up’, inspired by American singer Paula Abdul’s debut studio album ‘Forever Your Girl’, which was released through Virgin Records in 1988.
Note – Virgin Orbit will also launch 2 satellites through a joint project of the United Kingdom’s (UKs) Ministry of Defence and the U.S. National Reconnaissance Office from Newquay Airport in Cornwall, England that conducts radio signal monitoring tests. This would be the 1st ever launch from UK soil.
About Virgin orbit:
Founder – British billionaire Richard Branson
Establishment – 2017
Headquarters – Long Beach, California (currently conducts launches from the Mojave airport)

Iran Launched Zuljanah, a solid-fueled rocket into space

Iran launched its second  solid-fuelled rocket named “Zuljanah” with a satellite carrier  into space  by the Ministry of Defense and Armed Forces Logistics.

• The Zuljanah is a three-stage satellite launcher using a combination of solid and liquid fuels.

About Zuljanah:
i.It’s a solid-fueled 25.5 meter-long rocket which can  carry a satellite of  220 kilograms into space. The rocket weighs 52 tons and can reach an orbit of 500 kilometers above the surface.
ii.It will gather data in low-earth orbit as well as promote Iran’s space industry.
iii.The rocket’s name, Zuljanah, comes from the name of the horse of Imam Hussein, the grandson of the Prophet Muhammad.
About Islamic Republic of Iran:
Capital- Tehran
Currency- Iranian rial
President- Dr. Seyyed Ebrahim Raisi

SPORTS

Formula 1 British Grand Prix 2022: Ferrari’s Carlos Sainz Jr won his 1st F1 title

On 3 July 2022, Spain’s Carlos Sainz Jr. of team Scuderia Ferrari,  won the Formula 1 Lenovo British Grand Prix 2022 which took place over 52 laps of the 5.891-kilometre Silverstone circuit, in Silverstone, England. It was his first career Formula One (F1)  race victory.

• Mexico’s Sergio Pérez (Red Bull Racing team) secured second and Britain’s Lewis Hamilton (Mercedes team ) secured the third position in the race.
• The F1 Championships are organized by Federation Internationale de l’Automobile( FIA ).

About Carlos Sainz Jr.:
i.Carlos Sainz Vázquez de Castro also known as Carlos Sainz Jr.  was born on 1 September 1994 in Madrid, Spain.
ii.He is the son of Carlos Sainz, a double World Rally Champion, and the nephew of rally driver Antonio Sainz.
About Federation Internationale de l’Automobile ( FIA ) :
President -Mohammed Ben Sulayem
Headquarters – Paris , France

BOOKS & AUTHORS

New Book Titled “Ganga: ReImagining, Rejuvenating, ReConnecting” Authored by Rajiv Ranjan Mishra & Puskal Upadhyay

Rajiv Ranjan Mishra and Puskal Upadhyay have authored a new book titled “Ganga: ReImagining, ReJuvenating, ReConnecting” describes the issues faced by the National Mission for Clean Ganga (NMCG) team during its task.
The book published by Rupa Publications India chronicles the long and complex journey of transcending the challenges of over-abstraction of water, pollution abatement, bringing behavioural change, and making collaborative partnerships to achieve their goals.

• Rajiv Ranjan Mishra is an IAS officer who served for 2 stints in the NMCG, first as Mission Director and then as Director-General.
• Puskal Upadhyay is one of the pioneers of the government’s clean-Ganga initiative.

IMPORTANT DAYS

International Day of Cooperatives 2022 – July 2

The United Nations(UN)’s International Day of Cooperatives (CoopsDay) is annually observed across the globe on the first Saturday of July to create awareness about the contributions of cooperatives toward the development of society. Coops Day is an annual celebration of the Cooperative movement.
The day also commemorates the establishment of the International Cooperative Alliance(ICA), a non-governmental cooperative union representing cooperatives.

• The Coops Day 2022 was observed on 2nd July 2022. 
• The theme/slogan of the International Day of Cooperatives 2022 is “Cooperatives Build a Better World”. 

Background:
i.Since 1923, International Cooperative Day has been annually celebrated by the Global Cooperative Movement on the 1st Saturday in July. The first-ever Co-operators Day was observed on 7th July 1923.
ii.The United Nations General Assembly(UNGA) adopted the resolution A/RES/47/90 in December 1992 and proclaimed the first Saturday of July 1995 as the International Day of Cooperatives, marking the centenary of the establishment of the International Cooperative Alliance.
Significance:
The 2022 Coops Day marks the celebration of the 100th International Cooperative Day, the 28th International Day of Cooperatives recognized by the UN.
About International Cooperative Alliance(ICA):
ICA is one of the oldest non-governmental organisations in the world. It is also one the largest organisations, in terms of people represented – 1 billion members.
President– Ariel Enrique Guarco
Headquarters– Brussels, Belgium.
>> Read Full News

International Plastic Bag Free Day 2022- 3rd July

International Plastic Bag Free Day, celebrated annually on July 3 at the global level to spread awareness about the harmful effects of plastic and ways to eliminate the use of plastic bags.

• It also promotes the use of paper cloth bags.

Highlights:
i.The day  is a  part of the Break Free from Plastic Movement, started in 2016 to provide sustainable solutions to the plastic pollution crisis.
ii.In 2002, Bangladesh became the first country in the world to implement a ban on thin plastic bags.
About Zero Waste Europe(ZWE):
Headquarters– Brussels, Belgium
Executive Director – Joan Marc Simon
>> Read Full News

STATE NEWS

Odisha Government Presents Rs 2-Lakh Crore Budget for FY23   The Finance Minister of Odisha, Niranjan Pujari, has proposed a Rs 2-lakh crore budget in the state assembly for the fiscal year 2022-23 (FY23), with a focus on strengthening infrastructure, developing education and health sectors, and enhancing livelihoods of people.

• The proposed programme budget for FY23 is the “highest” in state budget history and is 33% higher than the budget of Rs. 1.7 lakh crore for FY22.

Qualitative Aspects of the Budget
i.The Budget Estimates for 2022-23 forecast an expenditure of Rs. 2 lakh crores.
ii.The Total Programme expenditure outlay for FY23 will be Rs. 1,00,000 crores.

• Additionally, Rs. 10,000 crore will be spent through off-budget sources and by Public Sector Undertakings (PSUs).

iii. The outlay for Disaster Response Funds will be Rs. 3,210 crores. Transfers from State to the Local Bodies will have an outlay of Rs. 7,200 crores.
iv.Agriculture & Allied Sector Activities: Under the Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme, an allocation of Rs 1,874 crore has been made for providing assistance to farmers.
v.Women & Child Development: Under the Maternity Benefit Programme “MAMATA” scheme, a provision of Rs. 247 crore is made.
About Odisha:
Chief Minister (CM) – Naveen Patnaik
Dance – Ghumura Dance; Ranapa Dance; Jodi Sankha Dance
>> Read Full News

Indian Bank Signed MoU with Haryana to Distribute Mobile Phones

The Indian Bank has signed a Memorandum of Understanding(MoU) with the Government of Haryana regarding the distribution of mobile phones to consumers through e-Unified Payment Interface (e-upi) system.

• Under this MoU, the Indian bank will provide e-upi coupons to the beneficiaries, which can be redeemed without any credit or debit card. This allows the customers to avail a mobile phone from a designated vendor.
• Under this initiative, the Indian Bank in Haryana will organise the Mobile distribution melas.

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