Current Affairs 1st April 2022, Daily GK Update
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CJI N V Ramana launched FASTER software to transmit court orders swiftly and securely through electronic mode
- Chief Justice of India, N V Ramana has launched FASTER (Fast and Secured Transmission of Electronic Records), to communicate interim orders, stay orders, bail orders, etc., of the Supreme Court to concerned authorities through a secured electronic communication channel.
- Aim: Eliminate the delay in to release of inmates even after the Supreme Court grants them bail.
- A digital platform FASTER was initiated led by CJI Ramana bench. FASTER system is developed on war footing by the Registry in collaboration with the National Informatics Centre.
Lepakshi Nandi, Veerabhadra temple included on UNESCO World Heritage tentative list
- The Sri Veerabhadra Swamy temple and the Monolithic Bull (Nandi) at Lepakshi, Andhra Pradesh were placed on the UNESCO World Heritage tentative list.
- The Sri Veerabhadra Swamy temple is also known as the Lepakshi temple is dedicated to Veerabhadra (Shiva). The temple is known for the Vijayanagara sculpture and mural painting on the ceiling as traditional art. India has 40 World Heritage sites.
About UNESCO (United Nations Educational, Scientific and Cultural Organization):
- Founded: 16 November 1945
- Headquarters: Paris, France
- Members: 193 countries
- Head: Audrey Azoulay
UP become India’s top vegetable producer; Andhra Pradesh remained top fruit producer
- Uttar Pradesh has become the top producer of vegetables, getting back its first position by demoting West Bengal to the second position, with a difference of a million tonnes in production in 2021–22 Crop Year (CY) (July–June), after two years since 2020.
- On the other hand, Andhra Pradesh remains the top fruit producer. India’s horticulture output is likely to drop marginally by 0.4% to 333.25 mt in 2021–22 from the previous year (2020–21) as production of vegetables, spices, and plantation crops is set to decline.
- Vegetable production in Uttar Pradesh is expected to be 29.58 million tonnes (mt) in the 2021–22 crop year (July–June), down from 29.16 mt in 2020–21, while West Bengal output is expected to dip to 28.23 mt in 2021-22 from 30.33 mt in 2020-21.
- Other top producers of vegetables as per the data in the current year 2021-22 include Madhya Pradesh at 20.59 mt, Bihar at 17.77 mt and Maharashtra at 16.78 mt.
- In 2021–22, Andhra Pradesh is expected to produce 18.01 million tonnes of fruit, up from 17.7 million tonnes in 2020–21. Maharashtra is anticipated to produce 12.3 million tonnes of fruit, up from 11.74 million tonnes in 2020–21.
About Uttar Pradesh:
- Capital: Lucknow
- Chief Minister: Yogi Adityanath
- Governor: Anandiben Patel
Microsoft launched Startups Founders Hub platform in India to support startups
- Microsoft launched a new digital and inclusive platform for startup founders in India. The platform called as ‘Microsoft for Startups Founders Hub’ in India, will support startup founders in India at every stage of their startup journey.
- This platform will offer over USD 300,000 worthof benefits and credits to startups, including free access to the technology, tools, and resources from the tech giant and partners. The initiative will help the Startups to gain mentorship and skilling opportunities with industry experts and Microsoft Learn.
- Microsoft for Startups Founders Hub was created following extensive research and conversations with hundreds of founders who explicitly shared their need for access to a digital ecosystem that promotes opportunities and democratises innovation regardless of background, location, progress, or passions.
- Founded: 4 April 1975, Albuquerque, New Mexico, United States
- Headquarters: Redmond, Washington, United States
- CEO: Satya Nadella
- Chairperson: John W. Thompson
World’s Biggest Electric Cruise Ship made its maiden voyage in China
- The largest electric cruise ship in the world has returned back to port in Yichang in central Hubei province, China after traveling up and down the Yangtze River for its maiden voyage.
- This cruise ship has been powered by a 7,500-kilowatt-hour massive-sized marine battery. This battery has been provided by Contemporary Amperex Technology, the No. 1 battery manufacturer for electric cars in the world.
- The developer of this ship, China Yangtze Power has plans to use this electric ship as the starting point for expanding the marine electric vehicle market in China.
- The name of the ship is Yangtze River Three Gorges 1 and it is a 100 percent electric cruise ship that has been developed and built in China. This ship is 16 meters wide and 100 meters long and has the capacity to carry around 1,300 passengers.
Banking and Financial
Banks reported frauds worth Rs 34,000 crore in April-December 2021, according to RBI
- According to Reserve Bank of India data, in the nine months ending December, 96 incidences of fraud were recorded by 27 scheduled commercial banks and financial institutions, totaling Rs 34,097 crore.
- Punjab National Bank had the greatest amount of frauds at Rs 4,820 crore, while the Bank of India had the highest number of frauds at 13. This penalty was issued in accordance with RBI’s authority under section 47A (1) (c) of the Banking Regulation Act, 1949, as well as sections 46(4)(i) and 51(1).
- The Fugitive Economic Offenders Act of 2018 authorises the attachment of a fugitive economic offender’s property. Such possessions may be seized, and the perpetrator may be disentitled, making it impossible for them to defend any legal claim.
- PSBs can acquire certified copies of the passports of the proprietors or directors, as well as other approved signatories, of enterprises that take out loans in excess of Rs 50 crore.
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
Ind-Ra projected India’s GDP growth for FY23 at 7-7.2%
- India Ratings and Research (Ind-Ra) has revised downwards the GDP growth forecast for India in FY23 to 7-7.2 percent. Earlier in January, the rating agency Ind-Ra had forecast this rate at 7.6 percent.
- According to Ind-Ra, in scenario one, the crude oil price is assumed to be elevated for three months, and in scenario two, the assumption is for six months, both with a half cost pass-through into the domestic economy. Since the duration of the Russia-Ukraine conflict continues to be uncertain, Ind-Ra has created two scenarios with respect to the FY23 economic outlook basis certain assumptions.
Note: India GDP projected for FY23 (2022-2023)
- Word Bank-8.7% in 2022-23
- ICRA-7.2% in FY23, FY22 at 8.5%
- Crisil-9.5%, 7.8 for FY23
- OECD-8.1% for FY23, 5.5% in FY24
- Fitch Ratings-8.5% for FY23
- Morgan Stanely: 7.9% for FY23
Cabinet approved $808 million programme to improve the performance of MSME
- The government authorized a World Bank-backed programme costing USD 808 million to aid and improve the functioning of the country’s Micro, Small and Medium Enterprises (MSMEs).
- The government said in an official statement that it would support various COVID-19pandemic-related resilience and recovery interventions of the enterprises and that it would begin in financing at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, which envisions a programme called ‘Raising and Accelerating MSME Performance’ (RAMP) and is supported by a World Bank-assisted central sector scheme, the government said.
- The loan from the World Bank’s International Bank for Reconstruction and Development will be for USD 500 million, with the remaining $308 million coming from the Centre, according to the statement. The loan from the World Bank’s International Bank for Reconstruction and Development will be for 18.5 years, with a 5.5-year grace period.
Google Pay partnered with Pine Labs to launch Tap to Pay for UPI
- Google Pay, the payment platform of Google, has partnered with Pine Labs to launch Tap to Pay for UPI (Unified Payments Interface), a functionality that aims to bring the seamless convenience of Tap to Pay to UPI.
- With this new feature, users can just tap their phones on the Point of Sales (POS) terminal and authenticate transactions on their phones using their UPI PIN.
- Pine Labs is a merchant commerce platform that offers merchants payment solutions, and the Tap to Pay for UPI feature will only be available when transacting with a merchant that uses a Pine Labs Android POS terminal.
- Founded: 4 September 1998
- Headquarters: California, United States
- CEO: Sundar Pichai
- Founders: Larry Page, Sergey Brin
Axis Bank acquired Citibank’s India consumer business in a Rs 12,325 crores deal
- Citigroup has announced that Axis Bank will be acquiring Citibank’s India consumer business for an amount of USD 1.6 billion in an all-cash deal.
- This transaction will be including Citibank India’s consumer banking businesses, which include retail banking, credit cards, consumer loans, and wealth management.
- This transaction will also be including the sale of Citibank’s non-banking financial company consumer business, Citicorp Finance (India) Limited, which comprises a financing business that is asset-backed and also includes construction equipment and commercial vehicle loans, and a portfolio of personal loans.
- It is an exchange of assets or a single asset for cash and no other monetary means, such as exchange of stocks or financing are used. The most common way of settling all-cash deal are wire transfers or check and the physical form of cash is generally avoided.
About Axis Bank:
- Founded: 3 December 1993
- Headquarters: Mumbai
- MD & CEO: Amitabh Chaudhary
- Chairperson: Shri Rakesh Makhija
- Tagline: Badhti Ka Naam Zindagi
Appointment and Resignation
Mahesh Verma appointed as chairperson of NABH
- Vice-Chancellor of Indraprastha University Mahesh Verma has been appointed as a new chairperson of the National Accreditation Board for Hospitals and Healthcare Providers (NABH).
- NABH is a constituent board of the Quality Council of India (QCI). This is responsible for setting benchmarks for quality and certifying hospitals and other health facilities.
- NABH is also a member of the board of the Asian Society for Quality in Healthcare (ASQua).
About National Accreditation Board for Hospitals and Healthcare Providers (NABH):
- Founded: 2006, India
- Headquarters: New Delhi
IONS Maiden Maritime Exercise “IMEX-22” concluded in Arabian Sea
- The maiden edition of the Indian Ocean Naval Symposium (IONS) Maritime Exercise 2022 (IMEX-22) was held from March 26 to 30, 2022 at Marmugao port, Goa, for Harbour Phase and Sea Phase in the Arabian Sea.
- The objective of this exercise was to enhance interoperability in Humanitarian Assistance and Disaster Relief (HADR) operations among member navies. In this maiden exercise, 15 members of nations of IONS participated.
- The navies from 15 out of the 25 member nations of IONS, participated in the exercise. The Indian Ocean Naval Symposium (IONS) was established in 2007.
- The Indian Ocean Naval Symposium (IONS) is a series of biennial meetings between the littoral states of the Indian Ocean region, to increase maritime security cooperation, discuss regional maritime issues, and promote friendly relationships among the member states.
20th India-France bilateral naval exercise ‘VARUNA -2022’ conducted in Arabian Sea
- The 20th edition of the Bilateral Naval Exercise between the Indian Navy and French Navy named ‘VARUNA’ is being conducted in the Arabian Sea from March 30 to April 03, 2022.
- The Bilateral Naval Exercises between the two Navies is being held since 1993 and the exercise was christened as ‘VARUNA’ in 2001. Various ships, submarines, maritime patrol aircraft, fighter aircraft and helicopters of the two navies will be participating in the VARUNA-2022 exercise.
Important Exercise b/w India and France:
- Desert Knight
IIM Ahmedabad set up a Retail Tech Consortium with Flipkart
- The Centre for Digital Transformation at the Indian Institute of Management (IIM) Ahmedabad, Gujarat has set up a Retail Tech Consortium and plans to collaborate with several retail and technology firms in India.
- This will work towards sharing knowledge, research and setting up industry best practices for better collaboration amongst retail tech players.
- Flipkart has joined as a principal partner for the inaugural year of the consortium. The consortium will undertake activities like nationwide consumer surveys, development of case studies, the conduct of field experiments and research studies, retail tech webinars, conferences and more.
1 April: Odisha Day or Utkal Divas
- Utkal Divas or Utakala Dibasha or Odisha Day is celebrated on April 1st every year to remember the formation of the Odisha state after a struggle to be recognized as an independent state.
- The state was originally called Orissa but the Lok Sabha passed the Orissa Bill, and Constitution Bill (113rd amendment), in March 2011 to rename it Odisha.
- After decades of struggle under the leadership of Odisha’s eminent leaders, the new province came into existence on the 1st of April 1936. The state saw another facelift, now in terms of its name being changed from Orissa to Odisha.
- The earlier capital city of Odisha was Cuttack whereas the current capital city is In terms of tribal population, Odisha is the 3rd state in the country. Various rulers ruled the state. More than 31% of the state has been covered with forests.
- Capital: Bhubaneswar
- Governor: Ganeshi Lal
- Chief minister: Naveen Patnaik
Veteran Belgian Footballer Miguel Van Damme passed away
- Veteran Belgian footballer, Miguel Van Damme has passed away aged 28 after a long battle with leukemia.
- Van Damme was diagnosed with leukemia in 2016 and was undergoing treatment for cancer for over five years. During his eight-year professional career, Van Damme played for Cercle Brugge and made 40 appearances for the team.
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