Current Affairs 18th March 2022, Daily GK Update
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Karnataka developed Dishaank app to ensure easy access to land records
- The Survey Settlement and Land Records (SSLR) unit of Karnataka’s revenue department is ensuring easy availability of original land records through an app called Dishaank.
- The Dishaank app is developed under the Geographical Information System (GIS) program of the Karnataka State Remote Sensing Applications Center (KSRSAC).
- The KSRSAC provides satellite data to agencies such as the SSLR unit for innovative use. Dishaank leverages Karnataka’s decision to digitize land records under the Bhoomi project.
- The Dishaank app provides information about the land, which includes the name of the landowner, the extent of land, type of ownership, type of land, litigations, land category, and any other active transactions being done on the land.
- Bhoomi is a project to digitize Karnataka’s land records. The project is jointly funded by the Government of India and the Government of Karnataka. The project was developed and implemented by National Informatics Centre (NIC).
- Capital: Bengaluru
- Chief Minister: Basavaraj S Bommai
- Governor: Thawar Chand Gehlot
Indian Railways prepared National Rail Plan (NRP) for India– 2030
- For the development of a futuristic railway system by 2030, the Indian Railways has come up with the ‘National Rail Plan (NRP) for India-2030’.
- Its objective is to formulate strategies based on both operational capacities and commercial policy initiatives to increase the modal share of the Railways in freight to 45%.
- Vision 2024 is a part of NRP. Vision 2024 has been launched under which implementation of certain critical projects by 2024 will be accelerated which include 58 Supercritical Projects of a total length of 3,750 km costing Rs 39,663 Crore; and 68 Critical Projects of a total length of 6913 km costing Rs 75,736 crore.
Deloitte’s Global Powers of Retailing 2022: Reliance Retail ranked 56th; Walmart Inc topped
- According to the global consulting firm Deloitte’s report titled “Global Powers of Retailing 2022: Resilience Despite Challenges”, Reliance Retail Limited, a subsidiary of Reliance Industries Limited has ranked 56th on the list of Top 250 global retailers.
- Walmart Inc., an American multinational retail corporation, topped the list, followed by Amazon, Inc., Costco Wholesale Corporation, Schwarz Group, and The Home Depot, Inc.
- Reliance Retail was the second-fastest-growing retailer, posting a five-year compound annual growth rate (CAGR) growth in retail revenue of 49.4% in FY2015- FY2020.
List of India’s Rank in Different Index 2021-22
- 10th International Intellectual Property Index (IIP Index 2022): India ranked 43rd; US topped
- Knight Frank’s 16th The Wealth Report 2022: India ranked 3rd in billionaire population globally; US topped
- V-Dem’s Democracy Report 2022: 93rd; Sweden topped
- London & Partners & Dealroom. co Global Investment in Digital Shopping in 2021 report: 2nd, US topped
- Bloomberg’s recent data on Market capitalization: 5th; US topped
2022 M3M Hurun Global Rich List: Mukesh Ambani emerged as Richest Indian & Asian; Elon Musk topped globally
- Hurun India released a report titled “2022 M3M Hurun Global Rich List”, a ranking of United States dollar billionaires in the world.
- According to the report, Mukesh Ambani, Chairman & Managing Director of Reliance Industries Limited has emerged as the Richest Indian and Richest Asian & ranked 9th globally. Mukesh Ambani is the only India to feature in the world’s top 10 billionaires list.
- Elon Musk co-founder and Chief Executive Officer of Tesla has topped the Billionaires list as the World’s richest person for the 2nd consecutive year with USD 205 billion(bn).
|1||Elon Musk||Tesla||USD 205 bn|
|2||Jeff Bezos||Amazon||USD 188 bn|
|3||Bernard Arnault||LVMH Moët Hennessy Louis Vuitton||USD 153 bn|
|4||Bill Gates||Microsoft||USD 124 bn|
|5||Warren Buffett||Berkshire Hathaway||USD 119 bn|
|6||Sergey Brin||Alphabet||USD 116 bn|
|6||Larry Page||Alphabet||USD 116 bn|
|8||Steve Ballmer||Microsoft||USD 107 bn|
|9||Mukesh Ambani||Reliance Industries Limited||USD 103 bn|
|10||Bertrand Puech & Family||Hermes||USD 102 bn|
Banking and Financial
SBI will set up Innovation, Incubation, and Acceleration Centre at Hyderabad
- The State Bank of India (SBI) will set up an Innovation, Incubation, and Acceleration Centre (IIAC) at Hyderabad, Telangana which will be operational in six to nine months of on-boarding a consultant.
- This Centre will be the bank’s in-house capability to enhance its current performance and drive higher top-line growth through innovation.
- It will help the bank to develop a set of technologies, knowledge, and skills for the introduction of new products and services. It will act as a central body to govern and drive fin-tech partnerships and implement change across the bank.
About State Bank of India (SBI):
- Founded: 1 July 1955
- Headquarters: Mumbai
- Chairman: Dinesh Kumar Khara
- SBI MDs: Ashwani Bhatia, C.S. Setty, Swaminathan Janakiraman and Ashwini Kumar Tewari
Torrent Power inked a pact to acquire 51% stake in power distribution utility of Dadra & Nagar Haveli, Daman & Diu
- Torrent Power Limited signed a Share Purchase Agreement (SPA) and Share Holders Agreement (SHA) with Administrator of the Union Territory of Dadra and Nagar Haveli and Daman and Diu (Holding Entity) and Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation Limited (the SPV) for purchase of 51 percent Equity Share Capital of the SPV from the Holding Entity.
- The agreement is a part of the Central government, to privatize the power distribution companies in the Union Territory (UT).
- The SPV will have various responsibilities including distribution and retail supply of electricity and it also holds distribution license in the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD).
About Torrent Power Limited:
- Founded: 1996
- Headquarters: Ahmedabad, Gujarat
- Chairman: Samir Mehta
Max Life Insurance launched Smart Guaranteed Pension Plan
- The Max Life Insurance Company Limited has announced the launch of the “Max Life Smart Guaranteed Pension Plan”, a non-linked, non-participating single premium individual or group general annuity plan, guaranteeing a regular income and ensuring the future financial security of the annuitant.
- Corporates and public-sector enterprises can purchase this plan directly as a group annuity product to meet the retirement needs of their employees. It offers attractive annuity rates and unique benefits, which enable National Pension System (NPS) subscribers to be eligible buyers of this product.
- Additionally, the product will be available through the direct channel of the company to direct customers in the business-to-consumer (B2C) segment. Its key features include Guaranteed Annuity, Death Benefit, Surrender Option, Top-up Option, Advance Annuity Option, and Tax benefits.
About Max Life Insurance Company Limited:
- Founded: 2001
- Headquarters: Gurugram, Haryana
- MD & CEO: Prashant Tripathy
Mahila Money, Visa, and Transcorp launched Prepaid Card for Women Entrepreneurs
- The digital payments networks Mahila Money, Visa, and Transcorp Prepaid Payment Instruments (PPI) have launched Mahila Money Prepaid Card to help women entrepreneurs easily collect payments, loans and get incentives for transactions.
- It will help women entrepreneurs use digital payments more effectively. It is for community members who want the convenience of a bank account with flexibility, safety, and convenience.
- It will pave the way to economic freedom and financial inclusion for millions of women entrepreneurs.
About Transcorp International Limited:
- Established: 1994
- Headquarters: New Delhi, Delhi
- Managing Director: Gopal Sharma
Appointment and Resignation
Suchitra K Ella appointed chairperson of CII Southern Region for 2022-23
- The Confederation of Indian Industry (CII)-southern region appointed Suchitra K Ella as the Chairperson for the year 2022-23. CII also appointed Kamal Bali as the Deputy Chairman.
- Suchitra K Ella is a co-founder and joint Managing Director of Bharat Biotech International Ltd.
- Prior to this appointment, she was serving as deputy Chairperson of CII for the year 2021-22 and she was the past chairperson of CII Andhra Pradesh in 2012-13. She was also the founding chairperson of the CII Indian Women Network (southern region) in 2015-18.
About Confederation of Indian Industry (CII):
- Founded: 1895
- Headquarters: New Delhi, India
- President: V. Narendran
- Director-General: Chandrajit Banerjee
- Motto: Charting Change Enabling Development
Banks Board Bureau recommended names for chiefs of Union Bank, Punjab and Sind Bank, IOB & SBI
- The Banks Board Bureau (BBB) has recommended the names for the position of managing director (MD) and chief executive officers (CEO) at public sector undertakings Banks: Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, and State Bank of India.
- The final appointment will be notified by the Government of India based on these recommendations.
|Recommended Names||Post||Will succeed||Present Position|
|A Manimekhalai||MD & CEO of UBI||Rajkiran Rai G||Executive Director of the Canara Bank|
|Ajay Kumar Srivastava||MD & CEO of IOB||Partha Pratim Sengupta||Executive Director of IOB|
|Swaroop Kumar Saha||MD & CEO of Punjab and Sind Bank||S Krishnan||Executive Director of Punjab National Bank|
|Alok Kumar Choudhary||Managing Director at SBI||Ashwani Bhatia||Deputy Managing Director (Finance) of SBI|
About Banks Board Bureau (BBB):
- Formed: April 1, 2016
- Headquarters: Mumbai
- Chairperson: Bhanu Pratap Sharma
18 March: Ordnance Factory Day
- Ordnance Factory Day is observed across India on 18 March to commemorate the foundation of the first ordnance factory at Cossipore near Kolkata in the year 1801.
- The erstwhile ordnance factories, which operated under the Ministry of Defence (MoD), were responsible for supplying arms, ammunition and clothing to the country’s armed forces.
- The Indian Ordnance Factory Board (OFB), which comprised 41 institutions, ceased to exist from 1 October last year. The OFB was split into seven public sector undertakings (PSUs), which continue to supply the country’s armed forces with a variety of military equipment.
18 March: World Sleep Day
- Every year on Friday before the Spring Vernal Equinox, World Sleep Day is observed to highlight the importance of quality sleep. This year, it will be observed on 18 March 2022.
- It is a call to action on important issues related to sleep, including medicine, education, social aspects, and driving.
- World Sleep Day is organized by the World Sleep Society and was first observed in 2008. It has come to be an annual awareness event ever since.
- Theme 2022: ‘Quality Sleep, Sound Mind, Happy World’
American Astrophysicist Eugene Parker passed away
- American Astrophysicist Eugene Newman Parker, who contributed to solar physics, has passed away at the age of 94 at a retirement community in Chicago, Illinois, United States of America.
- Eugene Parker witnessed the launch of National Aeronautics and Space Administration (NASA)’s Parker Solar Probe in 2018, the first NASA mission named after a living person, and became the first person to witness the launch of a spacecraft named after them.
- He is a visionary in the field of heliophysics, which focuses on the study of the sun and other stars & he is well known for this theory on the existence of solar wind, a supersonic flow of particles ofF the sun’s surface. He virtually created the field of heliophysics in the 1950s.
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