Current Affairs 15th and 16th January 2022, Daily GK Update
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Karnataka signed MoU with Singapore’s LNG Alliance to setup state’s 1st LNG terminal in Mangaluru
- The government of Karnataka and the Singapore-based LNG Alliance has signed an MoU to set up Karnataka’s 1st Liquefied Natural Gas (LNG) Terminal in Mangaluru, Karnataka.
- The terminal will be developed in association with the New Mangalore Port Trust with an investment of Rs 2250 crore.
- This is a part of the Government of India’s plan to strengthen the alternative fuel sector to reach net-zero carbon by 2070.
- Capital: Bengaluru
- Chief Minister: Basavaraj S Bommai
- Governor: Thawar Chand Gehlot
Jitendra Singh launched AI-driven Start-Up for Water Purification by IIT alumni; MoU Signed Between TDB & Swajal Water Private Limited
- Union Minister of State (I/C) Science & Technology Dr Jitendra Singh launched Artificial Intelligence (AI) driven Start-Up by Indian Institute Technology (IIT) alumni for water purification through innovative technology with financial support from Technology Development Board (TDB).
- A Memorandum of Understanding (MoU) was also signed between TDB, a statutory body of the Department of S&T and Swajal Water Private Limited.
- The company’s patented system, ‘Clairvoyant’ uses artificial intelligence to optimise purification systems and predict future breakdowns.
- Aim –To provide clean drinking water at a lower price than the market price.
World’s largest Khadi National Flag displayed at Longewala in Jaisalmer
- World’s largest national flag, made of Khadi fabric was put to display to celebrate the “Army Day” on January 15, 2022.
- It was displayed at Longewala, along the India – Pakistan Border in Jaisalmer. Longewala was the centre stage of historic battle of 1971 between India and Pakistan. It will be the fifth public display of the Khadi flag.
- The Monumental National Flag is 225 feet long and 150 feet wide. It is approximately 1400 kgs in weight. 70 khadi artisans prepared this flag in 49 days. Its making has created about 3500 man-hours of additional work for Khadi artisans and allied workers.
- 4500 meters of hand-woven, hand-spun, Khadi cotton bunting has been used to make the flag. It covers an area of 33, 750 square feet. The Ashok Chakra in the flag has a diameter of 30 feet.
POWERGRID signed Joint Development Agreement with Africa50 to develop Africa’s 1st PPP Transmission Project in Kenya
- Power Grid Corporation of India Limited (POWERGRID) has signed a Joint Development Agreement with Africa50, the pan-African infrastructure investment platform, to continue to develop Africa’s 1st public-private partnership (PPP) mode transmission project in Kenya, “Kenya Transmission Project”.
- The project involves the development, financing, construction, and operation of the 400kV Lessos – Loosuk and 220kV Kisumu – Musaga transmission lines under a PPP framework.
About Power Grid Corporation of India Limited (POWERGRID):
- Founded:23 October 1989
- Headquarters: Gurgaon, Haryana
- CMD: Kandikuppa Sreekant
India announced financial assistance of USD 900 million to Sri Lanka to overcome forex crisis
- India has announced financial assistance of USD 900 million loans to Sri Lanka to help the island nation in building up its depleted foreign reserves and for food imports.
- India is extending its support through the Reserve Bank of India (RBI). The Indian High Commissioner to Sri Lanka Gopal Baglay met Cabraal and expressed India’s strong support to Sri Lanka in the wake of RBI extending over USD 900 million facilities.
- These comprise deferment of Asian Clearing Unionsettlement of over USD 509 million and currency swap of USD 400 million.
About Sri Lanka:
- Capital: Jayawardenepura Kotte
- Currency:Sri Lankan Rupee
- Prime Minister: Mahinda Rajapaksa
- President: Gotabaya Rajapaksa
Banking and Financial
India recorded highest-ever monthly exports at $37.29 billion in December
- The preliminary data released by the commerce and industry ministry, India exported goods worth $37.29 billion in December, the highest ever in a month, as demand for items such as engineering products, petroleum items, and gems and jewellery continued to soar.
- India’s export has increased by 37 per cent from the figures of December 2020. The import has also increased by 38 per cent from last December. India’s exports of goods will cross 400 billion dollars in this fiscal year.
- Shipments during April-December 2021 crossed $300 billion. India’s export of services during April-December 2021 was $178.81 billion.
SEBI approved CDSL Venture to set up Accreditation Agency for a period of 3 years
- Central Depository Services Limited (CDSL) Ventures Limited, a wholly-owned subsidiary of CDSL has received approval from the Securities and Exchange Board of India’s (SEBI) for setting up Accreditation Agency for a period of 3 years with effect from 1st February 2022 for accreditation of eligible Investors.
- ‘Accredited Investors’ (AIs) may avail flexibility in minimum investment amount (lower ticket size) or concessions from specific regulatory requirements applicable to investment products with certain conditions for specific products or services.
About Central Depository Services Limited (CDSL):
- Founded: 1999
- Headquarters: Mumbai, Maharashtra
- CEO & MD: Nehal Vora
RBI released Annual Report of Ombudsman Schemes, 2020-21; complaints rose by 22.27% in 2021
- Reserve Bank of India released the Annual Report of the Ombudsman Schemes for 2020-21, which has been prepared for the 9-month period, i.e., July 1, 2020, to March 31, 2021, in alignment with the change in the Financial Year of RBI from ‘July – June’ to ‘April – March’ with effect from July 1, 2020.
- The Annual Report covers the activities under the Banking Ombudsman Scheme, 2006 (BOS), the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (OSNBFC) and the Ombudsman Scheme for Digital Transactions, 2019 (OSDT).
- The volume of complaints received under all the 3 Ombudsman Schemes increased by 22.27 percent on an annualized basis and stood at 3,03,107.
- The complaints received at BOS from July 1, 2020, to March 31, 2021, stood at 2,73,204
- The complaints received at OSNBFCs stood at 26,957 during July 1, 2020-March 31, 2021
- The number of complaints received at the OSDT rose to 2,946 during July 1, 2020-March 31, 2021.
About Reserve Bank of India (RBI):
- Founded: April 1, 1935
- Headquarters: Mumbai, Maharashtra
- Governor: Shaktikanta Das
- Deputy Governors: Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar
Google Pay has collaborated with Indifi to offer instant digital credit to SMEs
- Google Pay joined hands with a small businesses-focused online lending platform Indifi Technologies to provide instant loans to eligible medium, small and micro enterprises (MSMEs) merchants on the Google Pay platform.
- The biggest challenge that most small business owners face is working capital management and the speed of securing capital to manage it. The collaboration aims to address this problem and help small merchants to meet their working capital needs.
- The loans will be in the range of Rs 2.5 to Rs 3 lakh.
- Founded: 4 September 1998
- Headquarters: California, United States
- CEO: Sundar Pichai
- Founders: Larry Page, Sergey Brin
Federal Bank launched instant loan approval Portal for MSMEs
- Federal Bank, a private sector lender, launched an online lending platform com, to ease credit approvals of up to Rs 50 lakh for Micro, Small & Medium Enterprises (MSMEs) across India.
- The platform enables borrowers to avail loans in less than 30 minutes digitally by simply uploading their income tax (I-T) returns, bank account statement and online verification of Goods and Services Tax (GST) details.
About Federal Bank:
- Founded: 23 April 1931 (as Travancore Federal Bank) at Nedumpuram, Thiruvalla, 2 December 1949; 71 years ago (as Federal Bank)
- Headquarters: Aluva, Kerala
- MD & CEO: Shyam Srinivasan
- Tagline: Your Perfect Banking Partner
Snapdeal joined hands with BOB Financial & NPCI to launch Rupay Credit Card
- Snapdeal has tied up with BOB Financial Solutions Limited (BFSL) and NPCI to launch a co-branded contactless RuPay credit card.
- This co-branded credit card aims to popularise the adoption and usage of credit cards among the growing number of online buyers from India’s smaller cities and towns.
- The Snapdeal-BoB co-branded contactless card will be rolled out by March 2022.
About Bank of Baroda (BoB):
- Founded: 20 July 1908
- Headquarters: Vadodara, Gujarat
- Managing Director & CEO: Sanjiv Chadha
- Tagline: India’s International Bank
- Amalgamated Banks: Dena Bank & Vijaya Bank in 2019
WPI inflation declined to 13.56% in December 2021
- India’s Wholesale Price Index (WPI) inflation declined to 13.56% in December 2021. At 13.56%, the latest wholesale inflation print is 67 basis points lower than November 2021’s 14.23 percent, which is the highest in the current WPI series, data released by the commerce ministry showed.
- The decline in WPI inflation in December 2021 was driven by a fall in prices of fuel items, with wholesale fuel and power inflation climbing down to 32.30 percent from 39.81 percent in November 2021.
Yes Mutual Fund renamed as White Oak Capital Mutual Fund
- Yes Asset Management has been renamed as the White Oak Capital Asset Management with effect from 12th January 2022. In line with this, Yes Mutual Fund has been renamed as White Oak Capital Mutual Fund.
- In November 2021, the White Oak Capital group announced the completion of the transaction to acquire the mutual fund business of Yes Bank.
- White Oak Group founded by Prashant Khemka, former CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses provides investment management and advisory services for equity assets of over Rs 42000 crore.
Appointment and Resignation
Shersingh B Khyalia appointed as CEO of Adani Power
- The Board of Directors of Adani Power Limited (APL), a subsidiary of Adani Group, approved the appointment of Shersingh B Khyalia as the Chief Executive Officer (CEO) of Adani Powers with effect from 11th January 2022.
- Shersingh B Khyalia is a Chartered Accountant, who has served as the Managing Director in Gujarat Power Corporation.
About Adani Power Limited (APL):
- Founded: 22 August 1996
- Headquarters: Ahmedabad, Gujarat
- CEO: Shersingh B Khyalia
Former West Indies Cricketer Clive Lloyd Receives Knighthood
- The Former West Indies Captain Clive Lloyd received Knighthood from Prince William, the Duke of Cambridge at Windsor Castle, for his services towards the game of cricket.
- A knighthood is a title that is given to a man by a British king or queen for his achievements or his service to his country. A man who has been given a knighthood can put ‘Sir’ in front of his name instead of ‘ Mr’.
- On the same day, England’s world cup-winning captain Eoin Morgan was awarded with CBE (Commander of the Order of the British Empire) by Prince William for his services towards the game of cricket. The CBE is the highest-ranking Order of the British Empire award, followed by OBE (Officer of the Order of the British Empire) and then MBE (Member of the Order of the British Empire).
Philippines became 1st country to buy BrahMos supersonic cruise missile for $374.96 million
- Philippines has become the first foreign country to place an order for the purchase of the BrahMos Shore-Based cruise Missile System for its navy. This agreement will give a big boost to India’s defence manufacturing system.
- The estimated deal cost is worth $374.96 million. The BrahMos Aerospace Pvt Ltd will supply the missile, under the Shore-Based Anti-Ship Missile System Acquisition Project, for Philippine Navy.
- Capital: Manila
- Currency: Philippine peso
- President: Rodrigo Duterte
ISRO successfully conducted qualification tests of Cryogenic Engine for Gaganyaan
- Indian Space Research Organisation (ISRO) successfully conducted the qualification test of Cryogenic Engine for Gaganyaan programme for a duration of 720 seconds at ISRO Propulsion Complex, Mahendragiri, Tamil Nadu.
- The Qualification test ensures the reliability and robustness of the cryogenic engine for induction into the human-rated launch vehicle for Gaganyaan.
- India’s 1st human space mission ‘Gaganyaan’ will be launched in 2023. With this launch, India will become the 4th nation in the world to launch a Human Spaceflight Mission after the USA, Russia and China.
- Founded: 15 August 1969
- Headquarters: Bengaluru
- Chairman: S Somanath
AISCD got approval from ICSD to hold 1st World Deaf T20 Cricket Championship at Kerala in 2023
- The International Committee of Sports for the Deaf (ICSD) gave the approval to All India Sports Council of the Deaf (AISCD) to host the 1st World Deaf T20 Cricket Championship in Kerala from January 10 to 20, 2023.
- The World Deaf T20 cricket championship will be organized in Thiruvananthapuram, Kerala, where it is expected to see participants from 8 countries.
- This championship was planned to be conducted in 2020, moved to 2023 due to COVID outbreak.
About International Committee of Sports for the Deaf (ICSD):
- Founded: 1924
- Headquarters: Lausanne, Switzerland
- President: Gustavo de Araujo Perazzolo (Brazil)
Tasnim Mir became the World No 1 in Badminton U-19 Girls Singles
- Tasnim Mir became the first Indian to grab World no 1 in Under-19 (U-19) Girls Singles category with 10,810 points in the latest Badminton World Federation (BWF) Junior rankings.
- She is followed by Mariia Golubeva from Russia and Lucia Rodriguez from Spain. In 2021, she won 3 Junior International Tournaments held in Bulgaria, France and Belgium, which helped her climb up for No.1 position.
- The World No.1 position in Boy’s Singles is shared by Lakshya Sen, Siril Verma and Aditya Joshi.
About Badminton World Federation (BWF):
- Founded: 5 July 1934
- Headquarters: Kuala Lumpur, Malaysia
- President: Poul-Erik Høyer Larsen
15 January: Indian Army Day
- The Army Day in India is celebrated on 15 January every year, to salute the valiant soldiers who sacrificed their lives to protect the country and its citizens.
- This year marks the 74th Indian Army Day. The day is marked to commemorate the day when General (later Field Marshal) KM Carriappa took over the command of the Army from General Sir FRR Bucher, the last British Commander-in-Chief in 1949 and became the first Commander-in-Chief of Indian Army post Independence.
16 January: National Startup Day
- Prime Minister Narendra Modi announced that January 16 will be celebrated as National Startup Day.
- India is celebrating Startup India Innovation Week between January 10, 2022, and January 16, 2022. The week celebrations are organized by the Department of Promotion Industry and Industrial Trade.
- In 2022, the National Startup Day is celebrated on six themes: ‘Growing from Roots’; ‘Nudging the DNA’; ‘From Local to Global’; ‘Technology of Future’; ‘Building Champions in Manufacturing’; and ‘Sustainable Development.’
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