Current Affairs 19th and 20th March 2022, Daily GK Update

Current Affairs 19th and 20th March 2022, Daily GK Update

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National News

West Bengal celebrated ‘Dol Utsav’ or ‘Dol Jatra’

• West Bengal celebrated the ‘Dol Utsav’ or ‘Dol Jatra’, the festival of colors, marking the onset of the spring season.
• The festival is dedicated to Lord Krishna and Radha and celebrated on full moon day. It also marks the last festival of the year as per the Bengali calendar. 
• In the Eastern region of India, the festival of spring is celebrated as Dol Jatra, Dol Purnima, Dol Utsav, and Basanta Utsav. The majestic festival is celebrated by throwing ‘gulaal’ or ‘aabir’ on others and by singing and dancing in cultural programs.

About West Bengal:

• Capital: Kolkata
• Governor: Jagdeep Dhankhar
• Chief minister: Mamata Banerjee

Visakhapatnam Railway Station became the first station in East Coast to implement ‘One Nation, One Product’

• Visakhapatnam Railway Station, Andhra Pradesh is set to implement the ‘One Nation, One Product’ concept of the Government of India on a pilot basis for 15 days.
• This will become the first railway station in the East Coast railway to implement ‘One Nation, One Product’. The Railway Board of the Indian Railways has identified one station in every zone for implementing the pilot project for a period of 15 days. 
• ‘One station One product’ concept, based on the successful ‘One District, One Product’ scheme, was announced by the government of India while presenting the budget for 2022-23. 
• The Etikoppaka toys and handicraft products (Lacquer ware Toys) traditionally known as Etikoppaka Bommalu, from the Etikoppaka village will be sold at the Visakhapatnam Railway Station. GI tag for Etikoppaka toys is given to Andhra Pradesh in the year 2017 by the Geographical Indication Registry.
• Tirupati Railway Station will be the first station under the purview of South Central Railway to implement the ‘One Nation, One Product’ concept. The artisans involved in Kalamkari textiles and arts, and woodcraft, which are considered local to Tirupati were invited to sell their products in the station.

Telangana became 1st state in India to implement Crop Diversification Index

• Telangana became the first state in India to adopt the Crop Diversification Index (CDI) by way of recording their crop diversification pattern in the form of an index.
• According to the CDI, Telangana grows 77 varieties of crops, out of which only 10 crops (mostly grains) are chosen for crop diversification. The districts of Nirmal, Vikarabad, and Sangareddy emerge as the most diverse, ranking in the top 3 in the state.
• The least diversified districts (bottom 3) in the state in terms of crop diversification would be Peddapalli, Karimnagar, and Suryapet, where paddy is the most cultivated crop, showing a decrease in the cropping areas of maize and an increase in the cropping areas of cotton.

About Telangana:

• Capital: Hyderabad
• Governor: Tamilisai Soundararajan
• Chief minister: K. Chandrashekar Rao

Cochin Shipyard signed an agreement with Dredging Corporation of India to build India’s first make in India dredger 

• Cochin Shipyard Limited (CSL) signed an agreement with ​Dredging Corporation of India Limited (DCI) to build India’s first Make in India dredger in collaboration with the Industriële Handels Combinatie (IHC) Holland.
• The construction of the dredger costs around Rs 920 crore and will be delivered in 34 months. The initiative to build the indigenous dredger is to promote ‘Atmanirbhar Bharat’ (Self-reliant).
• IHC Holland is a Dutch firm, which provides basic design and technical assistance for a dredger. Dredging is the process of desilting river bodies, or removal of soil, mud, and dirt at the shores or the bottom.
• Aim: The objective of the dredger is to fulfill the Maritime India Vision 2030, with well-equipped dredgers for the operation of ports to bring down the logistic cost of the cargo.
• A dredger is a boat that is fitted with a special machine that is used to increase the size of harbors, rivers, and canals. The 127-metre-long, 28-meter-wide vessel (dredger) is based on the ‘Beagle’ platform of IHC.
• The ‘first beagle’ series is a 12 Trailing Suction Hopper Dredger (TSHD) with a capacity of 12,000 cubic metres.

About Dredging Corporation of India Limited (DCI):

• MD & CEO: Dr G.Y.V Victor
• Headquarters: Visakhapatnam, Andhra Pradesh
• Founded: 29 March 1976

NCRTC unveiled the coaches of India’s first rapid rail to be used in the Delhi-Meerut corridor

• The coaches for the Delhi-Meerut Rapid Rail Corridor were launched by the National Capital Regional Transport Corporation (NCRTC).
• In the following months, deliveries of these semi-high-speed aerodynamic trainsets with dispersed power will begin. A total of 210 cars will be delivered from the Savli manufacturing factory for the first Regional Rapid Transit System corridor.
• It consists of trainsets providing regional transit services on the Delhi-Ghaziabad-Meerutline as well as local transit services in Meerut. In the present year, the NCRTC will start the trial runs on the Delhi-Ghaziabad-Meerut RRTS corridor’s Priority Section.
• The RRTS is a first-of-its-kind system in which trains running at 180 kmph will run every 5–10 minutes and cover the distance between Delhi and Meerut in 55 minutes with 14 stops. The entire 82-kilometre Delhi-Ghaziabad-Meerut RRTS route, which will have 25 stations in total, is now under construction, with two depots at Duhai and Modipuram and one stabling yard at

About National Capital Region Transport Corporation (NCRTC):

• Founded: 2013
• Headquarters: Delhi, India
• Managing Director: Vinay Kumar Singh

International News

Mahatma Gandhi Green Triangle inaugurated in Antananarivo, Madagascar

• A “Green Triangle” named after Mahatma Gandhi, was inaugurated in Antananarivo, the capital city of Madagascar, as part of the ‘Azadi ka Amrit Mahotsav’ 
• The Mahatma Gandhi Green Triangle was jointly inaugurated by India’s Ambassador to Madagascar Abhay Kumar and Mayor of Antananarivo, Naina Andriantsitohaina.
• The word green in the plaque signifies their commitment to sustainable development and saving the environment. The naming of this park as Mahatma Gandhi Green Triangle is an apt tribute to Mahatma Gandhi.

About Madagascar:

• Capital:Antananarivo
• Currency:Malagasy ariary
• President:Andry Rajoelina

World Happiness Report 2022: India ranked 136^th; Finland topped

• 10th edition of the World Happiness Report 2022 was published by the United Nations Sustainable Development Solutions Network. According to the 10th edition of the World Happiness Report, Finland topped the list for the fifth time in a row.
• India has improved its rank by three spots to acquire 136th position (last year-146) in the United Nations’ World Happiness Report for the year 2022.
• Finland was followed by Denmark, Iceland, Switzerland, and the Netherlands. Among other western countries, while the United States managed to bag the 16th position, Britain was ranked 17th and France 20th.

Top 5 countries:

1. Finland
2. Denmark
3. Iceland
4. Switzerland
5. Netherlands

List of India’s Rank in Different Index 2021-22

• 2022 (Sustainable Development Report 2021 or Sustainable Development Index 2021): India ranked 120th; Finland topped
• V-Dem’s Democracy Report 2022: 93rd; Sweden topped
• London & Partners & Dealroom. co Global Investment in Digital Shopping in 2021 report: 2^nd, US topped
• Bloomberg’s recent data on Market capitalization: 5^th; US topped
• Deloitte’s Global Powers of Retailing 2022: Reliance Retail ranked 56th; Walmart Inc topped

Banking and Financial

RBI unveiled harmonised framework for microfinance lenders

• The Reserve Bank of India has released the framework for Microfinance Loans ‘RBI (Regulatory Framework for Microfinance Loans) Directions, 2022’.
• RBI asked the Regulated Entities (REs) to ensure that loans are collateral-free and not linked with a lien on the borrower’s deposit account, repayment obligations are capped, interest rates are not usurious, and there is no pre-payment penalty.
• A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 3 lakh. Instead, it has focused on borrowers’ repayment capacity and accordingly capped the fixed obligation to income ratio (FOIR) at 50 percent.
• The minimum and maximum requirements of microfinance loans for NBFC-MFIs have been revised to 75% and max 25% respectively of the total assets.

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

NPCI will launch On-Device Wallet ‘UPI Lite’ for small value transactions in offline mode

• National Payments Corporation of India (NPCI) will launch On-Device Wallet i.e., ‘UPI Lite’ for UPI users which will enable small value transactions in an offline mode. UPI stands for (Unified Payments Interface).
• This functionality enables transactions without additional factor authentication (AFA) or a UPI PIN (Personal Identification Number).
• Designed by NPCI, it will be launched as a pilot with multiple banks and app providers in the next 10 days. In this, the Upper Limit of the payment transactions is Rs 200.

About National Payments Corporation of India (NPCI):

• Founded: 2008
• Headquarters: Mumbai, Maharashtra
• MD & CEO: Dilip Asbe

SBI will provide USD 1 billion Line of Credit to Sri Lanka to recover from economic crisis

• SBI announced a USD 1 billion Line of Credit (LOC) to Sri Lanka as part of its financial assistance to deal with its economic crisis.
• An agreement extending the LOC was signed between SBI and the Government of Sri Lanka for the procurement of food, medicine, and other essential items.
• Previously, the Export-Import Bank of India (EXIM Bank) had extended a LOC of USD 500 million to Sri Lanka, which is in the midst of a financial crisis, to finance the purchase of petroleum goods.
• In addition to the USD 1 billion LOC, India has also offered a series of economic package announcements like a currency swap arrangement of USD 400 million and a debt deferral of USD 515 million for two months to Sri Lanka to wipe away its immediate problems.

About Sri Lanka:

• Capital: Jayawardenepura Kotte
• Currency:Sri Lankan Rupee
• Prime Minister: Mahinda Rajapaksa
• President: Gotabaya Rajapaksa

Moody’s projected India’s GDP forecast at 9.1% for CY22

• Rating agency Moody’s has revised downwards the economic growth forecast of India by 40 basis points to 9.1 % in the Calendar Year 2022 (CY2022), due to adverse effects of the Russia-Ukraine conflict on the global economy.
• Earlier in February 2022, Moody’s estimated India’s GDP in CY2022 to 9.5 %. Moody’s has projected India’s GDP growth forecast for the Calendar Year (CY) 2023 at 5.4 %.

Note: India GDP projected for FY22 (2021-2022)

• Word Bank-3%, 8.7% in 2022-23
• ICRA-9% in FY22 and FY23
• ADB-9.7%
• Crisil-5%, 7.8 for FY23
• Fitch Ratings-8.4%
• UN-6.5%
• IMF-9.0%

BPCL first to offer digital payment to non-internet users for voice-based LPG Booking

• Bharat Petroleum Corporation Limited (BPCL) has partnered with UltraCash Technologies Private Limited to become the first Indian company to offer digital payment to non-internet users for its BharatGas consumers to book their LPG (Liquefied Petroleum Gas) cylinders.
• This facility will enable its customers who do not have smartphones or the internet to book their cylinders and make the payment through “UPI 123PAY”. It allows customers to use feature phones for almost all transactions except scanning and paying, and it doesn’t need an internet connection for transactions.
• The tie-up of BPCL’s BharatGas with UltraCash Technologies Pvt Ltd’s UltraCash enables consumers to call a common number, 080 4516 3554, from a non-internet phone. 
• UltraCash is a mobile payment application developed by UltraCash Technologies Pvt. Ltd. and is also authorized by the National Payment Corporation of India (NPCI).

About Bharat Petroleum Corporation Limited (BPCL)

• Headquarters:  Mumbai, Maharashtra
• Chairman & Managing Director: Arun Kumar Singh

Kotak Mahindra Bank became first Indian bank to sign MoU with Business France

• Kotak Mahindra Bank Ltd signed an MoU with Business France, a French National agency involved in exports and international investments in France, to provide support to companies in the Indo-French corridor.
• The KMBL became the first Indian bank to sign an MoU with Business France. The MoU will promote business and start-up ecosystems in India and France.
• It will also identify the business and investment opportunities in both countries. KMBL will be amongst Business France’s privileged Indian banking partners for French companies.

About Kotak Mahindra Bank (KMB):

• Founded: 2003
• Headquarters: Mumbai, Maharashtra
• MD & CEO: Uday Kotak
• Tagline: Let’s make money simple

Appointment and Resignation

Prashant Jhaveri appointed as CEO of Flipkart Health+

• Flipkart Health+ appointed Prashant Jhaveri as its chief executive officer (CEO). He will be in charge of Flipkart’s entry into India’s fast-growing healthcare sector.
• Jhaveriwas the CEO of Apollo Health and Lifestyle Limited and MediBuddy before joining Flipkart Health+. Earlier in his career, he worked with Medi Assist Group as the chief business officer.
• In November 2021, Flipkart Health+ was created to create an end-to-end digital healthcare platform to address the concerns of inexpensive and high-quality healthcare.
• Senior Vice-President and Head of Flipkart Health+: Ajay Veer Yadav

RBL Bank’s interim CEO & MD Rajeev Ahuja got extension for 3 months by RBI

• Reserve Bank of India (RBI) has approved the extension of Rajeev Ahuja’s term as interim Managing Director (MD) and Chief Executive Officer (CEO) of RBL Bank for another three months w.e.f. from 25 March 2022 or till the appointment of a regular MD & CEO, whichever is earlier.
• Rajeev Ahuja was previously appointed as an interim MD & CEO of the bank for a period of three months w.e.f from 25th December 2021, after the previous MD & CEO, Vishwavir Ahuja.
• Vishwavir Ahuja went on leave on the next day of RBI’s appointment of one of its chief general managers, Yogesh K Dayal as an additional director for two years w.e.f 24 December 2021(2021-2023).

About RBL Bank Ltd:

• Founded: 1943 (Under Indian Companies Act, 1913)
• Headquarters: Mumbai, Maharashtra
• CEO & MD: Rajeev Ahuja
• Additional director: Yogesh Dayal
• Tagline: Apno Ka Bank

Awards

Poland’s Karolina Bielawska won Miss World 2021 title

• Karolina Bielawska from Poland has won the title of Miss World 2021. She was crowned by 2019 Miss World Toni-Ann Singh of Jamaica.
• She beat the USA, Indonesia, Mexico, Northern Ireland, and Cote d’Ivoire to clinch the coveted title. Indian-American Shree Saini from the United States bagged the first runner–up title, followed by Olivia Yace from Cote d’Ivoire.
• The 70th edition of the Miss World international beauty pageant was held in San Juan, Puerto Rico.
• Femina Miss India World 2020 Manasa Varanasi represented India at the Miss World 2021. Manasa Varanasi reached the Top 13 contestants but could not make it to the Top 6 finalists.

About Poland:

• Capital: Warsaw
• Currency: Polish złoty
• President: Andrzej Duda

Manjeet Mann’s children’s book titled ‘The Crossing’ shortlisted for UK’s Yoto Carnegie Medal 2022

• The Indian origin author Manjeet Mann’s book titled ‘The Crossing’ was shortlisted for the United Kingdom’s Yoto Carnegie Medal 2022.
• ‘The Crossing’ is a children’s book, which is a story of a little girl’s friendship with an Eritrean refugee. It is the longest-running and best-loved children’s book award of the UK. The Yoto Carnegie Medal is awarded by children’s librarians for an outstanding book written in English for children and young people.
• The book also won the 2022 Costa Children’s Book Award. The book was published by Penguin UK in 2021.
• The other seven books on 2022 shortlist include: ‘October, October’ by Katya Balen, ‘Guard Your Heart’ by Sue Divin, ‘When the Sky Falls’ by Phil Earle, ‘Everyone Dies Famous in a Small Town’ by Bonnie-Sue Hitchcock, ‘Tsunami Girl’ by Julian Sedgwick, ‘Cane Warriors’ by Alex Wheatle, ‘Punching the Air’ by Ibi Zoboi and Yusef Salaam.

About United Kingdom (UK):

• Capital:London
• Currency: British Pound Sterling (GBP)
• Prime Minister: Boris Johnson

Defence

Flight Control System Integration complex inaugurated in Bengaluru to develop avionics for AMCA

• Defence Minister Rajnath Singh inaugurated a seven-story Flight Control System (FCS) integration facility at the Aeronautical Development Establishment (ADE), a DRDO laboratory in Bengaluru, Karnataka. 
• Pilots of combat aircraft will also receive simulator training at the complex. It is one of the most essential components of the complex, according to Shri Rajnath Singh.
• The state-of-the-art complex was built in a record-breaking 45 days using in-house hybrid technology that included traditional, pre-engineered, and precast methods. The technique was developed by DRDO in collaboration with M/s Larsen & Toubro (L&T). IIT Madras and IIT Roorkeeteams examined the design and provided technical help.
• This FCS facility would help ADE, Bengaluru, with its research and development operations for developing avionics for fighter aircraft and FCS for Advanced Medium Combat Aircraft.

About Defence Research and Development Organisation (DRDO):

• Founded: 1958      
• Headquarters: DRDO Bhavan, New Delhi
• Chairman: G Satheesh Reddy

Book and Author

A new book titled “More than Just Surgery: Life Lessons Beyond the OT” authored by Dr Tehemton Erach Udwadia

• Padma Awardee Dr Tehemton Erach Udwadia has authored a new book titled “More than Just Surgery: Life Lessons Beyond the OT”, a personal account of people, incidents, mentors, failures, and absurdities against the backdrop of surgery.
• The book maps the journey of Dr Tehemton Erach Udwadia from his student years through residency, research, surgical practice and surgical teaching as a means of sharing the lessons he learned.
• Dr Tehemton Erach Udwadia, who hails from Mumbai, is a general and gastrointestinal surgeon. He was the first surgeon in India to introduce laparoscopy in surgery in 1972 and he was the first to perform laparoscopic surgery in the developing world in 1990.
• He is widely known as the ‘Father of laparoscopy in India’.  The government of India honoured him with the Padma Shri in 2006 for Medicine and Padma Bhushan in 2017 for Medicine. He also received the Order of the British Empire (OBE) from Queen Elizabeth II in 2006.

Important day

18 March: Global Recycling Day

• Global Recycling Day is observed every year on 18 March to recognize the importance of recycling as a resource, not waste.
• The day strives to urge world leaders that recycling must be a global issue and encourage people to think resourcefully and not waste when it comes to the goods around us. It is a day to raise awareness of the importance recycling plays in preserving our primary resources and securing the future of our planet.
• Global Recycling Day was created in 2018 by the Global Recycling Foundation founded by Ranjit Baxi – who is also the founder of International Recycling Ltd, an international business that exports waste materials from Europe and the USA for recycling into new products in Asia.
• Theme 2022: “recycling fraternity”

20 March: World Oral Health Day

• World Oral Health Day is observed on 20 March every year to create awareness about better oral hygiene and health. The day also highlights the tools and knowledge people need to prioritize their oral health.
• The day was started as an initiative by the FDI World Dental Federation. World Oral Health Day was first celebrated on 12 September 2007.
• The day also marked the birth anniversary of Dr. Charles Godon, who was the founder of the organization. Six years later, the date of World Oral Health Day was changed to 20 March to avoid a clash with the FDI World Dental Congress in September.
• The three-year theme (2021-2023) for World Oral Health Day is “Be proud of your mouth”.

20 March: International Day of Happiness

• International Day of Happiness is observed every year on March 20 around the world.
• On July 12, 2012, the United Nations General Assembly declared March 20 as International Day of Happiness, recognizing the importance of happiness and well-being as common aims and ambitions in the lives of people worldwide.
• Bhutan took the initiative to convene the meeting. The nation had been recognizing the importance of national happiness above national revenue since the early 1970s and famously adopted the objective of Gross National Happiness over Gross National Product.
• In 2013, the United Nations’ 193 member states commemorated the first International Day of Happiness.
• Theme 2022: “Build Back Happier”.

20 March: World Sparrow Day

• World Sparrow Day is celebrated every year on 20 March. This day is meant to raise awareness about the house sparrow and the dangers it confronts.
• The purpose of World Sparrow Day is to raise awareness and protect the bird all across the world.
• World Sparrow Day was established by Mohammed Dilawar, the founder of The Nature Forever Society. He started several projects, including the biodiversity Photo Contest, the annual Sparrow Awards, Project Save Our Sparrows, and the Common Bird Monitoring of India programme. The first World Sparrow Day was held in the year
• Theme 2022: “LOVE Sparrows.”

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