Current Affairs 15th April 2022, Daily GK Update
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Rongali or Bohag Bihu Festival celebrated in Assam
- Bohag Bihu or Rongali Bihu, one of the biggest festivals of Assam, falls in the second week of April every year, marking the beginning of the harvest period.
- This year Bohag Bihu is being observed from April 14 to April 16. Rongali means joy in Assamese and the festival indeed is the time to rejoice and make merry with family and community.
- The first day of the Hindu solar calendar is celebrated in the states of Punjab, Tamil Nadu, Orissa, Kerala, Manipur, and West Bengal among others with different names and traditions.
- Bihu is celebrated thrice a year; apart from Rongali or Bohag Bihu – Kati Bihu or Kongaali Bihu and Magh Bihu or Bhogali Bihu are celebrated to mark different stages of the harvesting period.
- Capital: Dispur
- Chief Minister: Himanta Biswa Sarma
- Governor: Jagadish Mukhi
National Agriculture Market (e-NAM) completed 6 years
- National Agriculture Market (e-NAM), a pan-India online trading portal, has completed six years on April 14, 2022.
- This flagship programme was launched by PM Modi in 2016 with an aim to join the physical wholesale markets and mandis of States/UTs to facilitate the electronic trading of agricultural goods.
- e-NAM is completely funded by the Central Government and is being implemented by the Small Farmers Agribusiness Consortium.
Telangana signed MoU with Thailand to promote trade and investment
- The Industries & Commerce Department of the Government of Telangana and the Ministry of Commerce, the Royal Thai government have signed an MoU to promote trade and investments between Telangana and Thailand.
- KT Rama Rao, Telangana’s Minister for Information Technology and Jurin Laksanawisit, Thailand’s Minister of Commerce were virtually present to sign the MoU.
- The MoU will kickstart the cooperation between Telangana and Thailand in Small and medium-sized enterprises (SMEs) and Startups through the business incubator and innovation ecosystem “T-Hub” and “Thaitrade.com” of Thailand with the “GlobalLinker” of Telangana.
- Under this MoU both the government will explore the possibility of potential trade & investments in various key focus sectors, like agro-based food processing, wood processing and wood-based industry.
- Capital: Bangkok
- Currency: Thai Baht
- Prime Minister: Prayut Chan-o-cha
- King: Maha Vajiralongkorn
Banking and Financial
World Bank projected India’s FY23 GDP growth at 8%
- The World Bank has reduced India’s GDP forecast for the fiscal year 2022-23 to 8% from 8.7% in its bi-annual “South Asia Economic Focus” report, due to the negative impact of the war in Ukraine
- Earlier in January 2022, the growth forecast for FY23 was estimated at 8.7 per cent.
- The reason for that is the worsening supply bottlenecks and rising inflation risks which were caused by Russia’s invasion of Ukraine. World Bank also cut a full percentage point of the growth outlook for South Asia to 6.6% (excluding Afghanistan).
Note: India GDP projected for FY23 (2022-2023)
- ICRA: 7.2%
- ADB: 8%
- Crisil: 7.8%
- OECD: 8.1% for FY23, 5.5% in FY24
- Fitch Ratings: 8.5%
- RBI: 7.2%
- Morgan Stanely: 7.9%
Kotak Mahindra Bank launched digital platform “FYN” for business banking, corporate clients
- Kotak Mahindra Bank has launched Kotak FYN, a new enterprise platform designed specifically for Business Banking and Corporate clients.
- Customers of the bank can utilise the portal to conduct all trade and service transactions. Kotak FYN portal will contain many other services by the fourth quarter of 2022, including account services, payments, and collections.
- The portal will also have a dashboard that consumers can personalise, real-time tracking of transaction limits, access to prior transactions, and upcoming transaction events, among other things. It also promises to deliver a tailored experience in small steps with system stability.
About Kotak Mahindra Bank (KMB):
- Founded: 2003
- Headquarters: Mumbai, Maharashtra
- MD & CEO: Uday Kotak
- Tagline: Let’s make money simple
Fino Payments Bank will buy 12.19% stake in Paysprint Pvt Ltd
- Fino Payments Bank has approved a minority strategic investment in New Delhi based fintech company Paysprint Pvt Ltd of up to 12.19%.
- This is the first strategic investment for Fino Payment Bank after its public listing. The partnership will transform the digital banking space in coming days.
- The stakes of Paysprint will offer APIs (Application Programming Interfaces) in banking, payments, travel, lending, insurance and investments.
- Paysprint is a rapidly growing financial technology company which is offering next-generation APIs in the areas of insurance, investment, banking, payments, and more.
About Fino Payments Bank:
- Founded: 4 April 2017
- Headquarters: Juinagar, Navi Mumbai
- MD & CEO: Rishi Gupta
UBI will buy 75% stake jointly held by BoB & IOB in IIBM
- Union Bank of India (UBI) is set to buy out 75% stake held jointly by Bank of Baroda (BoB) – 40% and Indian Overseas Bank (IOB) – 35%, in India International Bank (Malaysia) Berhad (IIBM).
- Following this, the IIBM will become a 100% UBI unit.IIBM was incorporated on 13th August 2010 and commenced its operations on 11th July 2012.
- India International Bank (Malaysia) Berhad (IIBM) was a locally incorporated three-way joint venture between the Bank of Baroda (40%), the IOB (35%) and Andhra Bank (25%).
- Following the amalgamation of Andhra Bank with Union Bank in April 2020, the stakes of IIBM held by Andhra bank was transferred to UBI.
About India International Bank (Malaysia) Berhad (IIBM):
- Headquarters: Kuala Lumpur, Malaysia
- Chairman: Santhanam Vangal Jagannathan
ICICI Bank signed MoU with GIFT SEZ to promote global, Indian businesses
- ICICI Bank has signed an MoU with GIFT SEZ (Special Economic Zone), India’s first International Financial Services Centre (IFSC), located at GIFT City in Gandhinagar, Gujarat.
- The MoU aims to promote the GIFT SEZ to Indian and international businesses, particularly in the areas of information technology (IT), IT-enabled services (ITeS), and financial services.
- According to the MoU, ICICI Bank and GIFT SEZ will collaborate to bring global investors and capital market firms to GIFT City in Gandhinagar, Gujarat, to establish Global In-house Centres (GICs).
- GIFT SEZ is being developed as a global financial services hub. ICICI Bank has been a prominent player in GIFT SEZ with its banking business since 2016.
About ICICI Bank:
- Founded: 1955 (Incorporated in 1994)
- Headquarters: Vadodara
- MD & CEO: Sandeep Bakhshi
- Chairperson: Girish Chandra Chaturvedi
- Executive Director: Anup Bagchi
- Tagline: Hum Hai Na, Khayal Apka
Prabhat Patnaik selected for Malcolm Adiseshiah Award 2022
- Well-known Indian economist and political commentator Prabhat Patnaik has been selected for the Malcom Adiseshiah Award 2022.
- The award is given by the Malcolm and Elizabeth Adiseshiah Trust to an outstanding social scientist. The award includes a citation and prize money of ₹2 lakh.
- He taught at the Centre for Economic Studies and Planning in the School of Social Sciences at Jawaharlal Nehru University (JNU) in New Delhi and was serve as the Vice Chairman of the Kerala State Planning Board.
Vice President conferred International Gandhi Award for Leprosy 2021
- Vice President M. Venkaiah Naidu has conferred the International Gandhi Award for Leprosy, 2021 to Dr. Bhushan Kumar of Chandigarh under the Indian nomination (individual) category and Sahyog Kushtha Yagna Trust, Gujarat under the institutional category.
- The annual award was instituted by Gandhi Memorial Leprosy Foundation. Both Dr. Bhushan Kumar and Sahyog Kushtha Yagna Trust have been working to raise awareness about leprosy and in providing care to those afflicted with it. They have also been working to remove the social stigmas that are associated with this disease.
- The annual award has been instituted to recognise the work of individuals and organisations who have worked tirelessly to fight this disease and the prejudices associated with it.
IAF signed MoU with IIT Madras to develop solutions to maintain weapon systems
- The Indian Air Force (IAF)has signed an MoU with Indian Institute of Technology (IIT) Madras for technology development and finding indigenous solutions for the sustenance of various weapon systems.
- The joint partnership between IAF and IIT Madras aims to accelerate IAF’s indigenisation efforts for achieving ‘Atmanirbhar Bharat’. IIT Madras will provide consultancy duly supported by research for feasibility studies and prototype development.
- IIT Madras in partnership with IAF will significantly contribute to indigenisation efforts by Base Repair Depots (BRDs) of Maintenance Command IAF, towards enhancing sustenance capability, obsolescence management and achieving ‘Self Reliance’.
About Indian Air Force (IAF):
- Establishment: 8 October 1932
- Headquarters: New Delhi, Delhi
- Chief of the Air Staff: Vivek Ram Chaudhari
- Motto: Touch the Sky with Glory
IIT Guwahati partnered with NTPC to develop energy efficient tech to capture CO2
- IIT Guwahati, Assam has partnered with NTPC Limited to design and develop a highly energy-efficient plant to capture carbon dioxide(CO2) from power plants.
- This indigenous technology was developed by a research team led by Prof. Bishnupada Mandal, Department of Chemical Engineering, IIT Guwahati.
- This technology works on flue gas (a mixture of gases produced by the burning of fuel or other) using a newly-activated amine solvent (IITGS), consumes up to 11% less energy compared to commercial activated MDEA (Methyl diethanolamine) solvent and up to 31% energy compared to the MEA (monoethanolamine) solvent.
- This development has the potential impact to combat global climate change and this will also benefit oil, natural gas, biogas industries, and petroleum refineries. IIT Guwahati and NTPC Limited are in the process of patenting the technology. On completion of test studies, the pilot plant has been shifted to NTPC’s NETRA facility.
About NTPC Limited:
- Founded: 1975
- Headquarters: New Delhi, India
- Chairman & MD: Gurdeep Singh
India will host Street Child Cricket World Cup in 2023
- India will host the Street Child Cricket World Cup in 2023. Organised by Street Child United and Save the Children India, the Street Child Cricket World Cup 2023 will welcome 22 teams from 16 countries to India next year.
- This world cup will be held in September ahead of the ICC World Cup, and street children and young people take part in a mixed-gender cricket tournament.
- In 2019, this championship was held in London where eight teams competed, and Team India South lifted the cup after beating hosts England.
- In addition to the partnership between Street Child United and Save the Children the SCCWC 2023 will also collaborate with World Bank, ICC and the British High Commission.
- In 2023 India will host2023 Cricket World Cup; 2023 IOC session in Mumbai; National Delphic Games; 2023 G20 Delhi summit.
12 April 2022: 128th Foundation Day of Punjab National Bank
- Punjab National Bank, India’s second-largest bank has celebrated its 128th Foundation Day on April 12, 2022.
- On the occasion of foundation day, MD & CEO of PNB, Atul Kumar Goel has launched a cardless cash withdrawal service and a virtual debit card for its customers. Bank also launched various services on its mobile app named PNB One for safe banking transactions.
- PNB was established by the great freedom fighter Lala Lajpat Rai, proudly known as Sher-e-Punjab (Lion of Punjab) in 1894 as the First Swadeshi Bank after being influenced by the swadeshi movement.
About Punjab National Bank (PNB):
- Founded: 1894
- Headquarters: New Delhi
- MD & CEO: Atul Kumar Goel
- Tagline: The Name You Can Bank Upon
14 April: Tamil Nadu observed ‘Equality Day’
- Tamil Nadu Chief Minister MK Stalin announced the birth anniversary of Dr Ambedkar on April 14 would be observed as ‘Equality Day’ from this year onwards.
- Some selected works of Ambedkar would be published in Tamil (critical edition). The government also informed that swift action taken on any representation aimed at the growth of all the Tamils.
- The DMK government already declared Periyar’s birth anniversary on September 17 as social justice day.
15 April: World Art Day
- World Art Day is observed every year on 15 April This day is being celebrated all over the world to emphasize the importance of art that nurtures creativity, innovation and cultural diversity for all peoples across the globe.
- The day was declared by the International Association of Art (IAA), an NGO working in official partnership with UNESCO. World Art Day was established at the 17th General Assembly of the International Association of Art in Guadalajara, Mexico.
- The first celebration of World Art Day was held on April 15, 2012. The date has been selected in honour of the birthday of Leonardo da Vinci, the famous painter of the Mona Lisa.
15 April: Himachal Day
- Himachal Day is observed on the 15th of April in Himachal Pradesh. The state became a full-fledged state on this day.
- Four districts of Mandi, Chamba, Mahasu and Sirmour were integrated with over two dozen princely states, leading to the formation of Himachal Pradesh as a Union Territory in 1948. Decades later, in 1971, Himachal Pradesh became the 18th state in India with Shimla as its capital.
- It was on this day in 1948 that Himachal Pradesh was created as a province of India. The day is marked with a grand parade in the capital city of Shimla. Local events are also organised in the cities, towns, and villages to mark the day.
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