Current Affairs 6 December 2022

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NATIONAL AFFAIRS

First Silchar-Sylhet Festival 2022 to celebrate Indo-Bangla ties held in AssamOn 2nd December 2022, the Silchar-Sylhet festival 2022, 1st ever festival celebrating cultural ties between the neighbouring regions of India and Bangladesh was held in Barak Valley, Silchar, Assam from 2nd to 4th December 2022.

• The festival celebrated the linguistic and cultural ties between the Barak Valley region of Assam, India and the Sylhet segment of Bangladesh.
• The event was organised by the India Foundation under the aegis of the Ministry of Culture, Government of India (GoI), in association with the Bangladesh Foundation for Regional Studies.

Silchar-Sylhet Festival 2022:
i. The Silchar-Sylhet festival coincides with the 75th year of India’s Independence and the 50th anniversary of the liberation of Bangladesh from Pakistan.
ii. The festival aims to revisit the common values and shared heritage of the twin cities and their people separated by international borders.
iii. The festival showcased tribal culture, cuisine, literature, arts, and crafts.
iv. In addition, the festival provides a platform to explore multi-disciplinary trade opportunities in sectors such as healthcare, tourism, education and digital infrastructure.
Key Points:
i. Among the many things connecting India and Bangladesh, links between Silchar and Sylhet stand out.
ii. Silchar-Sylhet Festival was organised in an attempt to celebrate the region’s age-old people-to-people connection.
Organising Committee:

• Bimal Bora, Minister of Industries & Commerce and Public Enterprises, and Cultural Affairs, Government of Assam.
• Parimal Suklabaidya, Minister of Transport, Excise & Fisheries, Government of Assam.
• Rajdeep Roy, Member of Parliament from Silchar.

INTERNATIONAL AFFAIRS

17th session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage held in Rabat, Moroccoi.Committee for the Safeguarding of the Intangible Cultural Heritage was hosted by the North African Country, the Kingdom of Morocco (Morocco) in its capital city Rabat.
ii.It was chaired by Samir Addahre, Ambassador and Permanent Delegate of Morocco to UNESCO (United Nations Educational, Scientific and Cultural Organization).
iii.It is an annual gathering.
iv.The session witnessed the inclusion of 47 new items in the UNESCO Intangible Cultural Heritage list submitted by 60 countries. These include 39 items in the Representative List of the Intangible Cultural Heritage of Humanity, 4 items in the Register of Good Safeguarding Practices, and 5 in urgent safeguarding list.
About Morocco:
Currency– Moroccan Dirham
Capital– Rabat
>> Read Full News

ICAO Aviation Safety Ranking: India’s Global Ranking Increases from 102 to 48, Surpasses China & Denmark  According to the latest aviation safety ranking released by the International Civil Aviation Organisation (ICAO), India’s ranking has risen to 48th, up from 102nd in 2018. The ranking, which also ranks India ahead of China (49), is the best ever obtained by India.

• India and Georgia are in 48th position, each with a score of 85.49 %.

i.The Indian Directorate General of Civil Aviation (DGCA), Ministry of Civil Aviation (MoCA), underwent an audit by the ICAO in November 2022 to examine its effective implementation (EI) of critical safety components.
ii.According to DGCA, the audit was carried out in India in the areas of legislation, organization, personal licencing, operations, airworthiness, and aerodromes.
iii.India now ranks above China (49), Israel (50), Turkey (54), Denmark (55) and Poland (60), in terms of effective implementation of key safety elements, with a score of 85.49%.
About the International Civil Aviation Organisation (ICAO):
Secretary General – Juan Carlos Salazar
Establishment – 1944
>> Read Full News

Knight Frank Report: Mumbai Takes 22nd Spot in Prime Global Cities Index Q3 2022According to the “Prime Global Cities Index Q3 2022” published by property consultant Knight Frank, Mumbai (Maharashtra) ranked 22nd in this global index that analyses the annual price appreciation of premium residential properties.

• Knight Frank reports that in the third quarter (Q3—July-September) of 2022, average annual prices increased in three Indian cities—Mumbai, Bengaluru (Karnataka), and New Delhi (Delhi).
• According to the report, prime price growth dropped for a second consecutive quarter in Q3 2022 globally.

Key Points:  
i.The Prime Global Cities Index, which analyses the movement of the top 5% of residential prices in local currency across 45 global cities, reported 7.5% annual growth in Q3 2022, down from 10% in Q1 2022.
ii.Mumbai improved from 39th place in Q3 2021 to 22nd place in Q3 2022.

• In addition, Bengaluru jumped in rank to 27th (Q3 2022) from 41st (Q3 2021) while New Delhi rose to 36th (Q3 2022) from 38th (Q3 2021).

iii.With respect to the 12-month change (Q3 2021-Q3 2022), the average price increase in Mumbai was 4.8 % Year-on-Year (YoY), Bengaluru was 3.3 % YoY, and New Delhi was 1.2 % YoY.
Top 3: Knight Frank Prime Global Cities Index Q3 2022 (Ranked by annual % change)

BANKING & FINANCE

NSE Indices Launches New Index – Nifty Bharat Bond Index – April 2023NSE Indices Limited (formerly known as India Index Services & Products Limited), a subsidiary of the National Stock Exchange of India Limited (NSE), has launched a new index – Nifty BHARAT Bond Index – April 2033, under the Nifty Bharat Bond Index within the Nifty Bharat Bond Index series.

• New tranche of the Bharat Bond ETF, India’s first corporate bond exchange traded fund (ETF) has been launched for New Fund Offer (NFO) of the ETF, which will open from 2nd December 2022 to 8th December 2022.
• This new Bharat Bond ETF and Bharat Bond Fund of Fund (FOF) series will mature on 18th April 2033.

About Bharat Bond Index series:
The Bharat Bond Index series follows a target maturity date structure wherein each index in the series measures the performance of a portfolio of ‘AAA’ rated bonds issued by the government owned entities maturing in a specific year.
Background:
i.In December 2019, NSE Indices launched the first two indices in the Bharat Bond Index with maturities in April 2023 and April 2030.
ii.In July 2020, further two indices were launched with maturities in April 2025 and April 2031.
Note – The first Bharat Bond ETFs tracking the Nifty Bharat Bond indices were launched in December 2019 with initial assets under management of around Rs.12,000 crore.
Key highlights:
i.On 30th November 2022 the Nifty Bharat Bond Index, April 2033 has a base value of 1,000 and the index will be rebalanced/reconstituted at the end of every calendar quarter.
ii.The upcoming Bharat Bond ETF will be 6th in the Bharat Bond ETF series and will track the newly launched Nifty BHARAT Bond Index maturing in 2033.
iii.This new launch has also opened the target maturity date index funds category with overall assets under management of more than Rs. 1.30 lakh crore.
About NSE Indices Limited: 
NSE Indices was established as IISL, a joint venture between NSE and CRISIL Ltd. (formerly the Credit Rating Information Services of India Limited). It became a wholly-owned subsidiary of NSE in 2013 following the acquisition of CRISIL’s 49% stake.
Managing Director (MD) and Chief Executive Officer (CEO) – Ashishkumar Chauhan
Headquarters – Mumbai, Maharashtra
Establishment – 1998

NIHR Global Health Research Centre Grants EURO 10 million Grant for Long Term Research in India & NepalResearchers from the Public Health Foundation of India and University of Leicester (England) have been awarded a prestigious grant of nearly EURO 10 million by the National Institute for Health and Care Research (NIHR) Global Health Research Centre, United Kingdom (UK).

• This grants help to improve the health outcomes and re-orient health systems to effectively address multiple long-term conditions (MLTCs) or multimorbidity in India and Nepal.

Key highlights:
i.The researchers will collaborate with the All India Institute of Medical Science (AIIMS), Jodhpur, Health Related Information Dissemination Amongst Youth (HRIDAY), Delhi, India and Kathmandu Medical College (KMC), Kathmandu, Nepal.
ii.As part of the project, 17 places on master’s degrees, 19 PhDs and 14 post-doctoral placements will be available in the University of Leicester, Birmingham or Brunel.

• It covers applied health research, implementation science, medical statistics, quality and safety in healthcare, health data science and diabetes.

About the implementation:
i.In the first stage of the research implementation, the researchers will review existing evidence, generate new data as required and talk to people living with these conditions to identify the best care approach for people with multimorbidity inIndia and Nepal.
ii.In addition, the researchers conduct studies using the concepts of co-design and community engagement to assess the type of integrated, technology-enabled, patient-centred, high impact, equitable health system intervention designs that benefits individuals with two or more long-term conditions, which are increasingly impacting population health.
Features:
i.NIHR Global Health Research Centre will also deliver short courses to approximately 400 participants.
ii.The short courses include a range of topics, including epidemiology, biostatistics, behavioural sciences, implementation science, health economics, qualitative methods, health systems research, community and patient engagement, leadership and management along with other areas depending on identified needs.

ECONOMY & BUSINESS

S&P Global Lowers India’s Growth Forecast; Pegs It at 6% For 2023S&P Global Ratings reduced India’s real Gross Domestic Product (GDP) growth for the following two fiscal years by 0.5 percentage points, citing a downturn in global demand, in its report “Global Credit Outlook 2023: No Easy Way Out”. GDP is expected to be 7% and 6% in fiscal years 2022 and 2023, respectively.

• S&P Global Ratings has calculated the fiscal years as: 2022 = Financial year (FY) 2022 / 23 and 2023 = FY 2023 / 24.
• S&P Global Ratings has reduced India’s 2022 economic growth projection to 7%, but claims the domestic demand-led economy will be less affected by the global slowdown.

Note: S&P Ratings projected in September 2022 that the Indian economy would grow by 7.3% in 2022–23 and by 6.5% in 2023–24.       

APPOINTMENTS & RESIGNATIONS     

Senior Nuclear Scientist K V Suresh Kumar is New BHAVINI CMD

On 2nd December 2022, K.V. Suresh Kumar, a renowned Scientist of the Department of Atomic Energy assumed charge as Chairman & Managing Director (CMD) of Bharatiya Nabhikiya Vidyut Nigam Limited (BHAVINI) at Kalpakkam, Tamil Nadu for a tenure of 3-years.

• He joined the operations of Fast Breeder Test Reactor (FBTR) in 1986 and was involved in the commissioning system of FBTR like Sodium heated Steam Generators, Steam & Water system and Turbo-Generator.
• He served as the Director of the Reactor Facilities Group at the Indira Gandhi Centre for Atomic Research (IGCAR) in Kalpakkam from 2016 to 2022. He was responsible for FBTR, KAMINI(Kalpakkam Mini) Reactor and Fuel Fabrication Facility.
• He was also involved in the Project Design Safety review of PFBR by leading many committees constituted by Atomic Energy Regulatory Board (AERB).             

SCIENCE & TECHNOLOGY

B-21 Raider: US unveils 6th generation Nuclear BomberThe United States (US) Airforce has unveiled its newest nuclear stealth bomber, the B-21 Raider, which is world’s first Sixth-Generation Aircraft.

• The technology behind this is developed and delivered by the Northrop Grumman.
• It will cost nearly $700m (£569m) each and can carry nuclear and conventional weapons.

Key Points:
i.It is named in honour of the Doolittle Raids of World War II when 80 men, led by Lt. Col. James Jimmy” Doolittle, and 16 B-25 Mitchell medium bombers set off on a mission that changed the course of World War II.
ii.The designation B-21 recognizes the Raider as the first bomber of the 21st century.
iii.US Air Force plans to buy at least 100 B-21 Raider stealth bombers which will replace the B-1 and B-2 models.

• It is estimated to cost $203bn (£165bn) to develop, buy and operate over 30 years.

iv.B-21 is part of the Pentagon’s efforts to modernize all three legs of its nuclear triad, which includes silo-launched nuclear ballistic missiles and submarine-launched warheads.
v.It is capable of networking across the battlespace to multiple systems, and into all domains.
vi.It is expected tomake its first flight in 2023, and will enter operations in 2026 or 2027.
About Northrop Grumman:
Chief Executive Officer– Kathy J. Warden
Headquarter– Virginia, United States

IIT Madras develops Sindhuja-I or ‘Ocean Wave Energy Converter’ to Generate Electricity from Sea WavesThe researchers at the Indian Institute of Technology Madras (IIT Madras) have developed a device called Sindhuja-I or  ‘Ocean Wave Energy Converter’, that can generate electricity from sea waves. Sindhuja means “created from the ocean” in Sanskrit.

• The device trials were completed during the second week of November 2022.

Key Highlights:
i. According to the IIT Madras statement, The device was deployed approximately 6 kilometres (km) off the coast of Tuticorin, Tamil Nadu, at a location with a depth of 20 metres.
ii. The Ocean Wave Energy Converter targets generating 1 megawatt (MW) of power from ocean waves in the next 3 years.
iii. The success of this initiative will contribute to the achievement of various goals, including the UN Ocean Decade and the Sustainable Development Goals.
iv. India’s goals: deep water missions, clean energy and achieving a blue economy.
v. It could assist India in meeting its climate change-related goals of generating 500 GW of electricity from renewable energy by 2030.
‘Ocean Wave Energy Converter’ Test:
i. For the Ocean Wave Energy Converter test, IIT Madras has collaborated with a start-up Virya Paramita Energy (VPE) Private Limited, and Motilal Nehru National Institute of Technology (MNNIT) Allahabad, Uttar Pradesh.
ii. Targeted stakeholders: the oil and gas, defence and security installations and communication sectors.
iii.Mechanism
The system called ‘point absorber wave energy converter’, has a floating buoy, a rod and an electrical module. The buoy moves up and down when the waves make contact.”When the buoy moves up and down, we get a relative motion. The relative motion gives rotation to an electric generator to produce power”.
About Project Sindhuja-I: 
i. Sindhuja-I was funded by the Australian Government’s Department of Foreign Affairs and Trade through the ‘Innovative Research Project‘ of IIT Madras, TBI-KIET under the DST Nidhi-Prayas Scheme, and the Australian Alumni Grant Scheme 2022.
ii. The electrical storage system was designed by the GKC Institute of Engineering and Technology and MCKV Institute of Engineering, West Bengal.
iii. Waterfront Engineering and Infrastructure Pvt Ltd assisted in deploying the system in the ocean.

DRDO hands over AHSP of Akash Weapon System to Missile Systems Quality Assurance Agency

On 3rd December 2022, the Defence Research and Development Organisation (DRDO) handed over the Authority Holding Sealed Particulars (AHSP) of the Akash Weapon System (Indian Army Version) to Missile Systems Quality Assurance Agency (MSQAA) in Hyderabad, Telangana.

• The Akash missile system was developed by a group of DRDO laboratories, including 3 from Pune.
• Akash is the 1st indigenous state-of-the-art surface-to-air missile system that has been in service with the armed forces for nearly a decade.
• According to the Ministry of Defence (MoD), the system has been inducted by the Indian Army and Indian Air Force with an order value worth Rs 30,000 crore.

SPORTS

Arjun Erigaisi & Vaishali Rameshbabu Wins Blitz Title in 2022 Tata Steel Chess India Blitz

Indian Grand Master(GM) Arjun Erigaisi won the 2022 Tata Steel Chess India Open Blitz defeating American GM Hikaru Nakamura at the 2022 TATA Steel Chess India(TSCI) Rapid and Blitz, 4th edition of the tournament, held from 29th November to 4th December 2022 in Kolkata, West Bengal.

• Indian International Master (IM) Vaishali Rameshbabu defeated Ukrainian GM Mariya Muzychuk to win the 2022 Tata Steel Chess India Women’s Blitz title.
• she becomes the first-ever Tata Steel Chess India 2022 Women Blitz champion.

ii.Prize Money for the Open tournament (both Women and Open) include USD 10,000 for 1st place, USD 5,000 for 2nd place, USD 4,000 for 3rd, USD 3,000 for 4th and USD 2,000 for 5th place.

• Prize Money for the Blitz tournament (both Women and Open) include USD 7,500 for 1st place, USD 4,000 for 2nd place, USD 3,000 for 3rd, USD 2,000 for 4th and USD 1,000 for 5th place.

Winners:

ISSF President’s Cup 2022: Indian shooter Rudrankksh Patil clinches ISSF President’s Cup; Anjum Moudgil wins silver in women’s 50-m 3-position rifle event

Rudrankksh Patil (18 years old), an Indian shooter, has won the International Shooting Sport Federation (ISSF) President’s Cup 2022 in Cairo, Egypt, by defeating Italy’s Danilo Sollazzo in the 10-metre (m) rifle play-off by 16-8.

• With this victory, Rudrankksh Patil has made it to the world No. 1 in the latest International Shooting Sport Federation (ISSF) Rankings for men’s 10m air rifle shooters.

International Shooting Sport Federation (ISSF) President’s Cup 2022

• The ISSF President’s Cup 2022 was held in Cairo, Egypt, from November 28 to December 4, 2022.
• This competition featured athletes from 42 nations representing 43 ISSF Member Federations from all continents, and these athletes are all among the top 12 in individual Olympic events according to the 2022 World Ranking.

Key Points:
i.In addition, Rudranksh Patil earned India’s first Olympic quota for the ‘2024 Paris Olympics’ when he won the men’s 10-m air rifle event at the ISSF Rifle-Pistol World Championships 2022, held in Cairo in October 2022.
ii.Rudrankksh Patil is only the sixth Indian shooting world champion, following Olympic gold medalist Abhinav Bindra, Tejaswini Sawant, Manavjit Singh Sandu, Om Prakash Mitherval, and Ankur Mittal.
Anjum Moudgil Wins Silver in Women’s 50m 3 Positions Rifle Event
Anjum Moudgil, an Indian women’s rifle ace, has won silver medal in the women’s 50-m rifle in 3 positions (3P) competition at the renowned ISSF President’s Cup 2022, making her the second-best athlete in the sport for the year 2022.

• Anjum lost the gold medal match to German Anna Janssen (14-16) at the Egypt International Olympic City (EIOC) range.

Key Points: 
i.Anjum achieved a new national record in women’s 3P in qualification, shooting 591 to finish fourth and qualify to the ranking round.
ii.This was India’s second medal of the tournament, following gold in the men’s 10-m air rifle competition by Rudrankksh Balasaheb Patil.

OBITUARY

Padma Bhushan Awardee & Renowned French Author Dominique Lapierre Passes AwayRenowned French author and Padma Bhushan awardee, Dominique Lapierre, passed away at the age of 91. He was born on 30th July 1931, in Chatelaillon, France.
About Dominique Lapierre:
i.Dominique Lapierre is a celebrated author who is well known for his novels about the World War II struggle to liberate Paris and for depicting a life of hardship in a Kolkata slum.
ii.In the 1950s, He worked as a journalist and a foreign correspondent for Paris-Match.
iii.In 1964, Dominique Lapierre and American writer Larry Collins co-authored a novel titled “Is Paris Burning?”, about the liberation of the French capital in August 1944.

• It was made into a movie by Francis Ford Coppola and Gore Vidal.

iv.He authored a book titled ‘City of Joy’ in 1985, describing the struggles of a rickshaw puller in Kolkata. It was made into a movie in 1992, starring Patrick Swayze and directed by Roland Joffe.
v.A major part of the royalty from the ‘City of Joy’ go towards the City of Joy Foundation which takes care of slum children in Calcutta.
vi.The Government of India honoured him with Padma Bhushan for Social Works in 2008.

Books:
He co-authored 6 books in collaboration with Larry Collins which includes, Is Paris Burning, “Or I’ll Dress You in Mourning” (1968), “O Jerusalem” (1972), “Freedom at Midnight” (1975), “The Fifth Horseman” (1980), and the thriller “Is New York Burning?”

• The book ‘Freedom at Midnight’ is about the events surrounding Indian independence, beginning with the appointment of Lord Mountbatten of Burma as the last Viceroy of British India and ending with the funeral of Mahatma Gandhi.

IMPORTANT DAYS

Navy Day 2022 – December 4 Navy Day is annually observed across India on the 4th of December to recognise the role of the Indian Navy, the maritime arm of the Indian Armed Forces, in ensuring the safety of the nation. The day also commemorates the achievements of “Operation Trident”, an offensive operation launched by the Indian Navy during the India-Pakistan war of 1971.

• Maratha emperor Chhatrapati Shivaji Bhosle known as the “Father of the Indian Navy”, is the creator of India’s naval force.

Events:
As a part of the celebration of Navy Day 2022, the Indian Navy demonstrated India’s combat prowess and capability through an ‘Operational Demonstration’ at Visakhapatnam, Andhra Pradesh.  For the first time, the Navy Day Celebrations are being conducted outside the National Capital, New Delhi, Delhi.
Navy Week 2022: 
The Indian Navy Week is annually observed across India from 1st to 7th December during which various activities and events will be organised.

• Indian Navy Week 2022 is observed from 1st to 7th December 2022

About Indian Navy:
Chief of Naval Staff (CNS)- Admiral R Hari Kumar
Headquarters– New Delhi, Delhi
Motto– Sham No Varunah
>> Read Full News

International Day of Banks 2022 – December 4United Nations (UN)’s International Day of Banks is annually observed across the globe on December 4 to recognise the vital role of banking systems in the Member States in contributing to the improvement of the standard of living.

• 4th December 2022 marks the observance of the 3rd International Day of Banks.

Background:
i. The United Nations General Assembly (UNGA) adopted the resolution A/RES/74/245 on 19th December 2019 and proclaimed December 4 of every year as International Day of Banks.
ii. The 1st International Day of Banks was observed on 4th December 2020.
About the United Nations (UN):
Secretary-General- António Guterres
Headquarters- New York, USA
Establishment- 1945
>> Read Full News

World Soil Day 2022 – December 5 The United Nations(UN)’s World Soil Day(WSD) is annually observed across the globe on 5th December to create awareness about the importance of healthy soil and to advocate the sustainable management of soil resources.

• The theme of World Soil Day 2022 is “Soils: where food begins”.

Background:
i.The observance of an international day dedicated to soil was recommended by the International Union of Soil Sciences (IUSS) in 2002.
ii.On 20th December 2013, the UNGA adopted the resolution A/RES/68/232 and proclaimed the 5th December of every year as World Soil Day.

• The resolution also declared the year 2015 as the International Year of Soils.

iii.The first ever official World Soil Day was observed on 5th December 2014. 
About Food and Agriculture Organization of the United Nations(FAO):
Director-General– QU Dongyu
Headquarters– Rome, Italy
Founded in – 1945
>> Read Full News

International Volunteer Day for Economic and Social Development 2022 – December 5United Nations (UN)’s International Volunteer Day for Economic and Social Development, more commonly referred to as International Volunteer Day (IVD), is annually observed across the globe on December 5 to celebrate the efforts of volunteers and organizations by sharing their values and promoting their work among communities, non-governmental organizations (NGOs), UN agencies, government authorities, and the private sector.
The theme of International Volunteer Day for Economic and Social Development 2022 is ‘Solidarity through Volunteering’.

• According to the UN, the theme represents ‘volunteering is where compassion meets solidarity’.

i. The UN General Assembly (UNGA) adopted the resolution A/RES/40/212 in 1985 and proclaimed December 5 of every year as International Volunteer Day for Economic and Social Development.
ii. The 1st International Volunteer Day was observed on 5th December 1985.
About the United Nations Volunteers (UNV) Programme:
Executive Coordinator- Toily Kurbanov (Russian Federation)
Headquarters- Bonn, Germany
>> Read Full News

STATE NEWS

Maharashtra Becomes First State to Set up Separate Divyang departmentOn 3rd December 2022, on the occasion of International Day of Disabled Persons, Maharashtra Chief Minister(CM) Eknath Shinde announced the formation of a separate Divyang Welfare Department for the welfare of differently-abled people with a financial outlay of Rs 1,143 crore.

• Maharashtra Becomes the first State in India to launch a separate department for the welfare of differently-abled people.

Background:
On 29th November 2022, the Maharashtra Cabinet chaired by CM Eknath Shinde approved the decision to establish a separate department for differently-abled people.
Key highlights:
i.The Maharashtra government has created 2,063 posts for this new department which will formulate policies for the welfare of the disabled with the consideration of the stakeholders views.
ii.The sections that are taking care of issues related to Divyang (differently-abled) people under the Social Justice and Special Assistance department will now be put together to form this new Divyang Welfare Department.
iii.Until now, the welfare activities of Divyang people including education, training, and rehabilitation were taken care of by the state social justice department.
About Maharashtra:
Governor – Bhagat Singh Koshyari
Chief Minister – Eknath Shinde
National Park – Gugamal National Park, Tadoba National park (tiger reserve)
Wildlife Sanctuary – Radhanagari Wildlife Sanctuary, Sagareshwar Wildlife Sanctuary

Telangana Signs Pact with Coinbase to promote Web 3.0 Community; ARBL Invests Rs 9,500 crore for Setting up Lithium-ion Battery GigafactoryThe Telangana Government has signed a Memorandum of Understanding (MoU) with Coinbase Inc., an American based trading company to jointly build a strong Web 3.0 community in Telangana.

• The MoU was signed by the Principal Secretary (IT, Industries and Commerce) and director of emerging technologies wing Jayesh Ranjan and Rama Devi Lanka from Coinbase Inc.

Key highlights:
i.Coinbase will support Web 3.0 entrepreneurs of Telangana through capacity-building sessions, mentorship programs, and promoting initiatives that are conducted with the help of Telangana’s innovation ecosystem partners.

• The Telangana Government is following the Triple Helix Model for innovation, through collaboration between industry, academia, and the government.

ii.It also provides knowledge support and acts as a technical advisor for Web 3.0 related initiatives implemented by the Telangana government.
iii.Coinbase Inc. will work in collaboration with the Telangana Government on the upcoming Web 3.0 Regulatory Sandbox, that helps in supporting organisations working in various Web 3.0 technologies to address regulation issues.
ARBL Invests Rs 9,500 crore for Setting up Lithium-ion Battery Gigafactory
Amara Raja Batteries Limited (ARBL) signed an MoU with the Telangana government to set up a lithium-ion battery gigafactory in Mahbubnagar district, Telangana with an investment of Rs 9,500 crore over the next 10 years.

• This gigafactory will be a state-of-the-art research and manufacturing facility with an ultimate capacity of up to 16 Giga Watt (GWh) and a battery pack assembly unit of up to 5 GWh.
• ARBL will establish Amara Raja Advanced Cell Technologies as its subsidiary for working towards the project.

Key highlights:
i.The initial facilities would include a first-of-its-kind advanced energy research and innovation centre, which will be named as the Amara Raja E-hub near Hyderabad International Airport.

• The E-hub will be equipped with advanced laboratories and testing infrastructure for material research, prototyping, product life cycle analysis and Proof of Concept demonstration.

ii.As a part of the project, ARBL will establish a commercial scale pilot plant at Divitipally and also the first giga scale cell production facility for automotive and industrial applications.
Note – ARBL is already supplying lithium battery packs and chargers to some two- and three-wheeler Original Equipment Manufacturers (OEMs).

India’s 1st gold ATM comes up in Hyderabad

Hyderabad (Telangana)-based Goldsikka Pvt Ltd has set up India’s 1st Gold Automated teller machine (ATM) and started its operations in the city at Raghupathi Chambers in Begumpet, Hyderabad.
Gold ATMs will be available for 24 hours.

• Telangana women commission chairperson Sunitha Lakshmareddy inaugurated the gold ATM centre.
• Customers can use a debit or credit card to buy gold coins through the ATM.
• Gold ATM supplies in denominations ranging from a minimum of 0.5 gms to a maximum of 100 gms. The customers will also get a certificate stating their purity and weight.

J&K’s 1st FASTag-enabled Parking System Launched

On 4th December 2022, Principal Secretary Housing & Urban Development Department (H&UDD), Dheeraj Gupta inaugurated Jammu and Kashmir’s (J&K) 1st FASTag-enabled Parking Management System at Multi-Level Car Parking General Bus Stand Jammu.

• The smart parking was launched as part of UT of J&K’s My Town My Pride
• The state-of-the-art smart parking FASTag enables cashless while the initiative is the 1st of its kind in J&K and 2nd across India. Delhi Metro (Delhi) launches India’s 1st FASTag-based cashless parking at Kashmere Gate station.
• The parking would be managed by an app called Park+, which allows Jammu residents to discover, book, and prepay for a parking spot.

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