We are here for you to provide the important current affairs May 22 2018 which have unique updates of all daily events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, India Today, Indian Express, Business Standard, all Government official websites. Our complete current affairs helps you to get more marks in Banking, insurance, UPSC, SSC, CLAT, Railway and all other competitive Exams.
Workshop on “Ganga and its Biodiversity: Developing a road map for habitat and Species Conservation” inaugurated by Nitin Gadkari
i. On May 22,2018, Union Minister for Water Resources, River Development and Ganga Rejuvenation Shri Nitin Gadkari inaugurated a day-long workshop on the theme “Ganga and its Biodiversity: Developing a Road Map for Habitat and Species Conservation” on river Ganga in New Delhi. This was organized by by World Wildlife Fund (WWF).
ii. He also released a report on “Status of Conservation of Select Aquatic Species”. A database of ‘Ganga Praharis’, a self-motivated cadre, being created by Wildlife Institute of India (WII) was also launched by the Minister………………………………………………………………………..Click here to Read more
“Historic Moment “ as First Commercial Flight lands in Arunachal Pradesh
On May 22, 2018, a 42 seater aircraft of Alliance Air lands at Pasighat in Arunachal Pradesh from Guwahati in Assam . It carried Chief Minister Pema Khandu and 24 other passengers with it. Arunachal Pradesh has some 120 helipads and 10 advanced landing grounds operational for defence and civil operations.
About the venture:
i. This flight is a part of the UDAN (Ude Desh ke Aam Nagarik) scheme. Arunachal Pradesh Chief Minister Pema Khandu became its first passenger.
ii. The flight will operate three times a week. It will connect Pasighat in Arunachal Pradesh and the Gopinath Bordoi Airport in Guwahati, Assam.
iii. The flight was a 1.5 hr long flight from Lokpriya Gopinath Bordoloi Airport in Guwahati.
iv. The Pasighat airport is on an Advance Landing Ground (ALG) which is meant to support operations of small and military aircrafts.
v. This would provide better connectivity and commercial and economical growth in the region.
vi. Another airport at Tezu in Lohit district will start its operations soon.
About Alliance Air:
♦ It is a subsidiary of state run carrier Air India. It will operate flights on the Kolkata-Guwahati-Pasighat route trice a week.
Chetak Corps’ engaged in exercise ‘Gandiv Vijay’ in Rajasthan
On May 22, 2018, The South-Western command Chetak Corps are engaged in intense training exercise called ‘Gandiv Vijay’ in Rajasthan.
About ‘Gandiv Vijay’:
i. began on March and will end in May 23 2018.
ii. It is a multi-mode exercise from dispersed locations to the time and place of decision in a terrain of operational responsibility of the formation.
iii. This was carried out in the Mahajan field firing ranges close to Suratgarh.
♦ It is also called X-corps.
♦ Headquartered in Bhatinda.
♦ Commander – Lt. Gen P C Thimmaya.
Chhattisgarh to get specialised combat unit ‘Black Panther’: Rajnath
On 22nd May 2018, Union Home Minister Rajnath Singh said that, Chhattisgarh will get a specialised anti-Naxal combat force named the “Black Panther” in line with the Greyhounds unit.
‘Black Panther’ for Chhattisgarh:
i. Rajnath Singh Singh made this announcement at a meeting in Naya Raipur. Greyhounds is a special force in Telangana and Andhra Pradesh that is specialised in anti-insurgency operations against Naxals and Maoists.
ii. He said that, the government is making all possible efforts to stop the resource flow to the Maoists, including seizure of illegally procured properties.
Some important temples in India:
♦ Kashi Vishwanath Temple – Varanasi, Uttar Pradesh
♦ Triambakeshwar Temple – Nashik, Maharashtra
♦ Jagannath Temple – Puri, Odisha
18,000 tanks rejuvenated in Telangana, says Minister under its Mission Kakatiya programme
On May 22, 2018, Telangana Irrigation Minister T Harish Rao said that, the Telangana government has completed rejuvenation of 18,000 tanks in Telangana under its Mission Kakatiya programme.
18,000 tanks rejuvenated in Telangana:
i. T Harish Rao made this announcement at a convention on ‘Rejuvenation of Krishna river’ organised by the Telangana Water Resources Development Corporation (TWRDC).
ii. He said that, ground water level in Telangana has increased with the rejuvenation of tanks.
Some important dams in India:
♦ Pakal Dul Dam – Marusudar River
♦ Sardar Sarover Gujarat Dam – Narmada River
♦ Ranjit Sagar Dam – Ravi River
Vice President Venkaiah Naidu lays foundation stone for NIDM’s Southern Campus in Andhra Pradesh
On 22nd May 2018, Vice President Venkaiah Naidu laid the foundation stone of the Southern Campus of National Institute of Disaster Management (NIDM) at Kondapavuluru Village, Gannavaram Mandal, Krishna District of Andhra Pradesh.
Venkaiah Naidu lays foundation stone for NIDM’s Southern Campus in Andhra Pradesh:
i. NIDM is a Government institute under Ministry of Home Affairs. In line with the Andhra Pradesh Reorganization Act 2014, it has set up a Southern Campus in Andhra Pradesh.
ii. At present, an interim setup of NIDM Southern Campus is functioning in Andhra Pradesh Human Resource Development Institute (APHRDI) Campus at Bapatla, Guntur.
iii. Andhra Pradesh government has allotted 10 acres of land to NIDM for setting up of its permanent Southern Campus at Kondapavuluru Village.
iv. The Central Government has approved setting up of the South Campus at a cost of Rs. 36.76 crores.
v. NIDM’s Southern Campus will focus on ground level issues, district and local planning, last mile connectivity and mainstreaming disaster management into Sustainable Development Goals through training and capacity building programmes.
vi.The Campus will support capacity building of various stakeholders. The programs will be designed with main focus on the disasters, mainly in southern states.
Some stadiums in Andhra Pradesh:
♦ Dr. Y.S. Rajasekhara Reddy ACA-VDCA Cricket Stadium
♦ YS Raja Reddy Stadium
India receives the 1st cargo of ADNOC crude oil for its Mangalore Startegic Petroleum Reserve
On May 22, 2018, India received the 1st cargo of Abu Dhabi National Oil Company (ADNOC) crude oil for its Mangalore Strategic Petroleum Reserve.
i. In February 2018, during the visit of Prime Minister Narendra Modi to UAE,ISPRL and ADNOC signed an Agreement for storing 5.68 million barrels of crude oil.
ii. This is to be stored in the Mangaluru facility of India SPR for emergency and distribution purposes.
iii. Apart from this the minister of oil Dharmendra Pradhan flagged off 2 million barrels of oil for India.
iv. The centre has built crude oil storage facilities with total capacity of 5.33 Million Tonnes (MT) at three locations under phase I of the ‘SPR programme’ including 1.33MT at Vishakhapatnam, 1.5 MW at Mangalore and 2.5 MT at Padur.
♦ Headquarters – Abu Dhabi , United Arab Emirates.
♦ UAE minister of state and ADNOC CEO – Sultan Ahmed Al Jaber.
First informal Summit between India and Russia held in the city of Sochi
On May 22,2018, The Prime Minister of India Shri. Narendra Modi met the President of Russia Mr. Vladmir Putin for the first informal summit in the city of Sochi, Russia.
Key points on the informal meet:
i. Talks ofcounter terrorism, strategic partnership for global peace and stability, to continue working though the multilateral organizations like UN, SCO, BRICS and G-20.
ii. Agreement for strategic economic dialogue between NITI Aaoygand Russia’s Ministry of Economic Development for better trade and investment.
iii. Agreement on the first consignment of LNG under a long-term agreement between Gazprom and GAIL.
iv. For better partnership in military , security and nuclear energy fields.
v. Agreement on holding informal summits in future.
vi. The Prime Minister of India invited President Putin for the 19th Annual Informal Summit that is to be held in India in 2018.
♦ Capital – Moscow
♦ Currency – Russian Ruble.
BRICS Bank plans to launch Americas Regional Office in Brazil
On May 22,2018, BRICS New Development Bank (NDB) plans to launch Americas Regional Office in Brazil.
Key points about the launch:
i. It is done to increase the operational capabilities of NDB in Brazil .
ii. This will help in identification and preparation of bankable projects in Brazil.
iii. Apart from this there is another centre : The African Regional Centre in Johannesburg , South Africa.
♦ Headquarters – Shanghai .
♦ Founded by BRICS member – Brazil, Russia, India, China, South Africa in July 2014.
Pakistan among top three sources of money laundering in UK: NCA
The United Kingdom’s National Crime Agency (NCA) has placed Pakistan among the top three sources for money laundering in the United Kingdom.
Pakistan among top three sources of money laundering in UK:
i. Nigeria and Russia are the other two countries in the top 3 sources of money laundering in UK.
ii. The NCA report states that the UK is a major destination for foreign corrupt and politically exposed people to launder money. It has identified trade misinvoicing as one of the major mechanisms used for such operations.
iii. NCA had produced a report named “National Strategic Assessment of Serious and Organized Crime 2018”.
iv. London is also considered the “Money Laundering Capital of the World” where corrupt leaders from developing countries use wealth looted from people to buy assets.
Headquarters of some banks:
♦ Canara Bank – Bangalore
♦ Central Bank of India – Mumbai
♦ Corporation Bank – Mangalore
BANKING & FINANCE
Bank of Baroda locates major operations at GIFT City
On May 22,2018 , Bank of Baroda locates major operations at GIFT city.
i. The bank will now offer its services including retail loan processing, deposit account openingin this Shared Service Centre (SSC).
ii. It will have a staff strength of 200.
iii. The bank will become one of the largestemployers in the Ahmedabad-Gandhinagar region.
iv. The bank had taken 20,000 sq, ftof office space in GIFT City, making it the first Indian bank to move several key operations to the smart city.
Bank Of Baroda (BOB):
♦ Headquarters – Vadodara, Gujrat.
BoB, CDSL sign agreement
On May 22,2018, Bank Of Baroda has signed agreement with CDSL Commodity Repository (CCRL) .
Key points about the Agreement :
i. This agreement is for pledge financeunder the repository ecosystem for registered / accredited warehouses.
ii. The new ecosystem will boost confidence among bankers and other stakeholders like depositors and warehouse service providers.
iii. This will also provide various features to its stakeholders such as seamless transfer of ownership of commodity by the depositors, splitting of warehouse receipt by the depositors, real time and ease of access of information by the banks that will help them reduce their TAT in processing the loans and marking the pledge on the commodity.
iv. BOB becomes the firstpublic sector bank to become the repository participant.
Central Depository Services (CDSL) :
♦ Headquarters – Mumbai, India.
BUSINESS & ECONOMY
MCX launches India’s first copper options
On May 22, 2018, Multi Commodity Exchange of India (MCX) launches India’s first copper options.
The contract has clocked a traded volume of 461 lots with value of Rs. 21.89 crore
It provides the optimal tool to protect and lessen price risk in copper for the stakeholders.
About the Launch:
i. The contracts are available for trading with one MCX copper futures contract (1MT) as the bottom-line.
ii. In order to encourage active participation in the market the exchange is not levying any transaction fees on all the commodity options contracts till September 30, 2018.
iii. Copper ranks as the third-most-consumed industrial metal in the world, after iron and aluminium.
iv. Copper ore production in India stood at 3,846 thousand tonnes in 2016-17.India’s consumption demand for refined copper stood at 820 thousand tonnes in the FY16.
♦ MD & CEO – Mr. Mrugank Paranjape.
Business & economy India to achieve 9 percent growth rate by 2022: Niti Ayog VC
On May 22, 2018 , The Vice Chairman of NITI Aayog Rajiv Kumar said that the Indian economy and business will grow to a 9% growth rate by 2022.
i. This was possible because of the reforms like GSTand demonetization and the Insolvency and Bankrupty Code (IBC).
ii. Also encouraging electric vehicleswill aid in the improvement as petrol prices are growing to a USD 80 per barrel.
iii. The NITI Aayog is working on projects to demonstrate that farmers income can be doubled by 2022.
iv. Indian economy grew by 6.6% in 2017-18 and is expected to grow by 7.5% in 2018-19 fiscal.
About Insolvency and Bankruptcy Code (IBC):
i. It was launched in 2016.
ii. It is a framework by which a single one stop solution to insolvency resolution can be achieved.
iii. The process for insolvency resolution is for individuals , companies and partnership firms.
i. Goods and Service tax came into effect from july 1, 2017.
ii. It is an indirect value added tax levied on products and services produced in the country.
iii. It has 5 slabs: 0%, 5%, 12%, 18%, 28%.
♦ Chairman – PM Narendra Modi.
♦ CEO – Amitabh Kant.
ONGC operations in Nagayalanka from today
On May 22,2018 ,Oil and Natural Gas Corporation (ONGC) will begin its operations in Nagayalanka block in Krishna District.
Key Points :
i. This will be inaugurated by ONGC CMD Mr. Shashi Shankerin the site near the Bhavadevarapalli Village.
ii. This Early production System (EPS)will cost Rs. 6804 crore .
iii. For environmental protection an amount of Rs. 340 crore has been spent.
iv. The ONGC initially targeted developing of three wells and one EPS, whose handling capacity is drilling of 379 cum/per dayof crude oil and 0.145 Million Standard cubic feet of gas per day.
v. In March 2015, the Ministry of Environment and Forests and Climate Change issued the ‘Terms of Reference’ to the ONGC to set up 31 wells in the Krishna district.The three wells are in Nangegedda and Bhavadevarapalli in the mandal.
Headquarters – Vasant Kunj, New Delhi.
Partners Group to buy stake in GlobalLogic from Apax Funds
On 21st May 2018, Partners Group agreed to buy ownership stake in GlobalLogic from Funds advised by Apax Partners.
Partners Group to buy stake in GlobalLogic:
i. The deal size was not revealed by the companies. After acquisition, Partners Group will become an equal shareholder with existing investor, Canada Pension Plan Investment Board (CPPIB).
ii. GlobalLogic is a digital product engineering services company. It enables clients to develop digital products that improve customer engagement, and create new revenue streams.
AWARDS & RECOGNITION
MSLTA annual award winners
On 22nd May 2018, the Maharashtra State Lawn Tennis Association (MSLTA) annual awards were presented in Mumbai.
MSLTA annual award winners:
i. Some of the MSLTA annual award winners for their performances in 2017 -2018 are:
- Asian junior Champion Mihika Yadav
- India’s No 5 Men’s player Arjun Kadhe
- India’s No 4 women’s player Rutuja Bhosale
- National Sub junior Champion Rutuja Chaphalkar
- India’s No 1 junior Siddhant Banthia
ii. The top 3 players in each age group in Maharashtra were awarded scholarships worth Rs. 11 lakhs and funds for international training.
iii. Dr. Vijay Thete of Nashik, Mr. Rajesh Dave of Yewatmal and Mr. Deepak Somaiya of Amravati were presented special awards for Development and Promotion of Tennis.
iv. Also, coaches Kedar Shah for producing National Champions and Aditya Madkekar and Shrinivas Rao Kola for National Runner-up from Maharashtra were given special awards.
v. The Maharashtra Men’s and Women’s team that bagged the All India interstate Championships at Bhilai were presented Cash awards of Rs 51000 per player.
vi. Maharashtra players Kritika Chhabra and Tejasvi Kate and coach Himanshu Gosavi were honored for their Bronze winning performance at the Asian School Games at Solo, Indonesia.
vii. Appreciation Awards were given to clubs hosting international events in Maharashtra.
About Maharashtra State Lawn Tennis Association (MSLTA):
♦ Life President – Ghanshyam Patel
♦ Location – Mumbai
APPOINTMENTS & RESIGNS
Pravin Agrawal appointed BHEL director
On May 22, 2018, BHEL said that it has appointed Pravin L Agrawal as part-time official director on its board.
Pravin Agrawal appointed BHEL director:
i. Pravin Agrawal is an Indian Forest Service officer. Currently he is joint secretary in the Department of Heavy Industry (DHI), Ministry of Heavy Industries and Public Enterprises.
ii. He is 49 years old. BHEL (Bharat Heavy Electricals Ltd.) is a State-run power equipment making company.
Nicolas Maduro re-elected Venezuela President
On 20th May 2018, Nicolas Maduro was elected as the President of Venezuela for a second term.
Nicolas Maduro re-elected Venezuela President:
i. Nicolas Maduro won the presidential election with nearly 67% votes. He has won a new six-year term as President of Venezuela.
ii. Nicolas Maduro is 55 years old. He is a former bus driver. In 2013, he replaced Hugo Chavez as President of Venezuela.
Mahathir taps prominent Indian-origin politician to become Malaysia’s first Sikh Cabinet minister
Gobind Singh Deo, an Indian-origin lawyer and politician in Malaysia has become the first Sikh in Malaysia to be appointed as a Cabinet minister.
Indian-origin politician to become Malaysia’s first Sikh Cabinet minister:
i. Gobind Singh Deo is 44 years old. He has been allotted the communications and multimedia portfolio.
ii. Another Indian-origin lawmaker M Kulasegaran from the Democratic Action Party (DAP) has been made the human resource minister in the Cabinet by Malaysian Prime Minister Mahathir Mohamad.
AQUISITIONS & MERGERS
Adobe acquires Magento for USD 1.68 billion
On May 22,2018, the California based giant software company Adobe announced its acquisition of Magento for USD 1.68 billion.
Key points about the acquisition:
i. Magentowas founded in 2008 and had been earlier acquired by eBay in 2011 first and then went private in 2015.
ii. it works in B2B and B2C context and will help Adobe to compete with salesforce and provide functionality in e-commerce space.
iii. The acquisition will help Adobe to work on consumers in the company’s Experience Cloud. The deal is also seen as a way of Microsoft and Adobe coming closer as they will be able to collaborate better against Salesforce.
♦ Headquarter – California, US.
SCIENCE & TECHNOLOGY
Solar system’s first interstellar immigrant discovered
On May 22, 2018, scientists have discovered the first intersteller immigrant .
i. An Asteroid named (514107) 2015 BZ509 has a different origin other than our solar system because the object moves in a direction opposite to that of all the objects in our solar system.
ii. This is the second asteroid that is causing stir after the ‘Oumuamua’ asteroid.
iii. The discovery could shed light on a range of mysteries about how our solar system, planets and perhaps even life itself were formed.
iv. Dr. Fathi Namouni is the lead in this study group.
Scientists have identified a drug that could prevent the brain damage caused by exposure to cosmic radiation
Scientists have found out a drug named “PLX5622” that could prevent the brain damage caused by exposure to cosmic radiation.
Drug that could prevent the brain damage:
i. Study regarding this was published in the journal Scientific Reports. Researchers have found that the drug prevents memory impairment in mice exposed to simulated space radiation.
ii. Human beings travelling beyond the Earth’s protective magnetic fields will be exposed to cosmic radiation nearly 1000 times higher than that on Earth.
iii. The “PLX5622” has shown positive result on mice. Through this drug it would be possible to make advancements in deep space exploration.
Tag lines of some banks:
♦ Indian Overseas Bank – Good people to grow with
♦ IDBI Bank – Banking For All, Bank Aisa Dost Jaisa
♦ Oriental Bank of Commerce – Where every individual is committed
Manika, Mirabai sign up with IOS Sports
On May 22,2018, Commonwealth medal winner and Table Tennis Star Manika Batra and weightlifter Mirabai Chanu signed multi year agreement with IOS.
About the Agreement :
i. IOS will now manage their endorsements, appearances, brand profiling, patents, licensing and digital rights, images, and visibility on social networking sites, the company stated in a media release.
ii. It will be managing their brand portfolio and commercial activities in a professional way.
iii. With this deal, Manika and Mirabai join the likes of boxing stars MC Mary Kom, Vijender Singh and Saina Nehwal on the IOS roster.
About Manika Batra :
♦ The 22-year-oldManika had bagged medals in four events, including an unprecedented gold in the women’s singles and team championship, in the recently concluded Commonwealth Games at Gold Coast.
About Mirabai Chanu:
♦ The 23-year-oldMirabai, on the other hand, became the first Indian in two decades to clinch a gold medal at the 2017 World Weightlifting Championship in Anaheim.
Bala Prasath wins Formula Junior Racing Series 2018 Championship
On 20th May 2018, Bala Prasath won the Formula Junior Racing Series 2018 Championship in Coimbatore.
Bala Prasath wins Formula Junior Racing Series 2018 Championship:
i. Bengaluru’s Sohil finished in the second place in the final round. Chennai’s Nirmal Umashankar finished in the third position.
ii. Bala Prasath hails from Coimbatore. The Formula Junior Racing Series 2018 Championship is organised by MECO Motorsports.
iii. It was introduced in 2016 as a platform to drivers coming out of the winter season to prepare for the National Championships.
Kane named England’s World Cup captain (football)
On 22nd May 2018, Harry Kane was announced as England’s captain at the World Cup in Russia.
Kane named England’s World Cup captain:
i. Harry Kane is 24 years old. He has scored 12 goals in 23 international appearances.
ii. He first captained England in the last summer’s 2-2 World Cup qualifier in Scotland.
Noted industrialist Bansidhar Panda passes away
On 22nd May 2018, Bansidhar Panda, industrialist and founder of Indian Metal and Ferro Alloys (IMFA) Ltd died at his home in Bhubaneswar, Odisha.
Death of Bansidhar Panda:
i. Bansidhar Panda was 87 years old. He founded Indian Metal and Ferro Alloys (IMFA) in 1961.
ii. He was a major contributor in instituting Sarala Award for literature and Ekalabya Puruskar for sports.
International Bio-diversity Day
On 22nd May 2018, International Bio-diversity Day was celebrated all over the world.
International Bio-diversity Day:
i. When: The UN General Assembly declared 22 May as the InternationalDay for Biological Diversity in 2000. This marks the day in which Convention on Biological Diversity was adopted.
ii. Why: The International Day for Biological Diversity (IDB) is celebrated to create awareness on biodiversity issues like habitat destruction, marine pollution, climate change etc.
iii. The theme for International Bio-diversity Day 2018 is: Celebrating 25 Years of Action for Biodiversity.
Some important wildlife sanctuaries in India:
♦ Bornadi Wildlife Sanctuary – Assam
♦ Bhimbandh Wildlife Sanctuary – Bihar
♦ Sitanadi Wildlife Sanctuary – Chhattisgarh