Current Affairs 21st January 2022, Daily GK Update
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Table of Contents
National News
Cabinet approved infusion of Rs. 1,500 crores in Indian Renewable Energy Development Agency Limited
- The Union Cabinet approved the infusion of 1500 crores rupees in the Indian Renewable Energy Development Agency Limited (IREDA).
- It will help generate 10,200 jobs a year and reduce carbon emissions equivalent to approximately 7.49 million tonnes per year. The IREDA played a big role in the field of renewable energy and its portfolio had increased from ₹8,800 crore to ₹28,000 crores in the past six years.
- IREDA is a Non-Banking Financial Institution engaged in promoting, developing, and extending financial assistance for setting up projects relating to new and renewable sources of energy.
About Indian Renewable Energy Development Agency (IREDA):
- Founded: 11 March 1987
- Headquarters: New Delhi
- Chairman and Managing Director: Pradip Kumar Das
Amazon India signed an MoU with NIFientreC to empower grassroot entrepreneurs
- Amazon India signed an MoU with the NIF Incubation and Entrepreneurship Council (NIFientreC), a technology business incubator hosted by the National Innovation Foundation (NIF), for online distribution of products of grassroots innovations, student creativity based innovations, and outstanding traditional knowledge-based ready to market products.
- Aim: To accelerate grassroots innovation, local economy, and livelihoods across rural India.
- Under the partnership, Amazon and NIFientreC will collaborate with key players in the innovation and entrepreneurship ecosystem, including central and state government partners, to conduct training programmes and encourage grassroots innovation.
About National Innovation Foundation (NIF):
- Founded: 2000
- Headquarters: Gandhinagar, Gujarat
- Chairperson: S. Goel
- Director: Vipin Kumar
International News
India & Denmark signed an agreement for joint research & development on green fuels
- India and Denmark signed an agreement to work together in joint research and development on green fuels including green hydrogen during the Joint Science and Technology (S&T) Committee meeting held virtually.
- The Joint Committee discussed national strategic priorities and developments in Science, Technology, and Innovation of both countries with a special focus on green solutions of the future – strategy for investments in green research, technology, and innovation.
- The committee emphasised on development of bilateral collaboration on mission-driven research, innovation, and technology development, including climate and green transition, energy, water, waste, food, and so on as agreed by the two Prime Ministers while adopting the Green Strategic Partnership – Action Plan 2020-2025.
About Denmark:
- Capital: Copenhagen
- Currency: Danish krone
- Prime Minister: Mette Frederiksen
UNCTAD’s Investment Trends Monitor: FDI flows to India decreased by 26% in 2021
- As per the United Nation Conference on Trade and Development’s (UNCTAD) ‘Investment Trends Monitor’ published on January 19, 2022, the Foreign Direct Investment (FDI) flows to India in 2021 had decreased by 26 percent mainly because large Mergers & Acquisition (M&A) offers recorded in 2020 were not repeated.
- The world’s overseas direct funding flows have rebounded in 2021, which rose at 77% to an estimated USD 65 trillion, from USD 929 billion in 2020.
- FDI inflows in the Association of Southeast Asian Nations (ASEAN) increased by 35 percent with increased FDI across most members.
About United Nation Conference on Trade and Development (UNCTAD):
- Founded: 1964
- Headquarters: Geneva, Switzerland
- Secretary-General: Rebeca Grynspan
15th BRICS STI Steering Committee meeting decided India will host 5 events in 2022
- 15th meeting of the BRICS Science Technology Innovation (STI) Steering Committee decided that India will host five events in 2022.
- During the meeting, India handed over the chairmanship to China for 2022.
- Theme for BRICS 2022: “Foster High-Quality BRICS Partnership Usher in a New Era for Global Development”.
- Sanjeev Kumar Varshney, Advisor and Head International Cooperation, Department of Science and Technology led the Indian delegation in the 15th meeting of BRICS STI Steering Committee.
- Out of 25 events that is to be conducted in 2022 by China, India will host five. The Department of Promotion of Industry and Internal Trade (DPIIT)is the main executing agency for the BRICS Startups Forum and the creation of innovation Knowledge Hub.
India will host the following 5 events in the year 2022:
- BRICS Startups Forum meeting
- Working Groups meetings on Energy, Biotechnology & Biomedicine
- ICT & High-Performance Computing
- Launching of BRICS innovation Launchpad as a microsite (Knowledge Hub)
- STIEP (Science, Technology, Innovation and Entrepreneurship Partnership) Working Group Meeting.
About BRICS:
- Founded: June 2006
- Members: Brazil, Russia, India, China, and South Africa
- 2022 Chair: China
NSE emerged as world’s largest derivatives market for 3rd straight year
- The National Stock Exchange of India (NSE) has emerged as the world’s largest derivatives exchange for the third consecutive year in 2021 in terms of the number of contracts traded, based on the statistics maintained by the Futures Industry Association (FIA).
- As per the statistics maintained by the World Federation of Exchanges (WFE) for 2021, the NSE exchange was ranked 4th by the number of trades in cash equities.
- At the instrument level, NSE ranks first in index options and currency options by the number of contracts traded.
- NSE Indices, the National Stock Exchange’s index services subsidiary, launched the Nifty India Defence index to track the performance of a portfolio of stocks that broadly represent the Defence theme.
About National Stock Exchange of India (NSE):
- Founded: 1992
- Headquarters: Mumbai, Maharashtra
- MD & CEO: Vikram Limaye
Banking and Financial
Ind-Ra projected India’s GDP growth at 7.6% in FY23
- India Ratings & Research (Ind-Ra) estimated India’s real Gross Domestic Product (GDP) growth in FY23 at 7.6%, which will be 9.1% higher than the FY20 (pre-COVID-19) level.
- The size of the Indian economy was expected to be 10.2 percent lower than the FY23 GDP trend value. The investments estimates, as measured by gross fixed capital formation (GFCF), to grow 8.7 percent YoY in FY23.
- Ind-Ra expects fiscal deficit to be at 5.8-6.0 percent of GDP in FY23 and the merchandise exports to grow 18.3 percent YoY in FY23 due to a favourable global trade outlook.
Note: India GDP projected FY22 (2021-2022)
- Word Bank-3%, 8.7% in 2022-23
- ADB-9.7%
- OECD-4%
- Fitch Ratings-8.4%
- UN-6.5%
- SBI-9.5%
- RBI: 9.5%
- IMF-9.5%
- S&P Global Ratings-5%
- Economic Advisory Council to PM: 0-7.5% in FY23, 5% in FY22
- National Statistical Office (NSO):2% in the financial year 2021-22
Indian Energy Exchange divested 4.93% equity stake in IGX to IOC
- Indian Energy Exchange (IEX) divested 4.93% of its equity stake in Indian Gas Exchange (IGX) to Indian Oil Corporation (IOC).
- IGX is India’s first natural gas exchange that has been set up to promote gas trading in the country. Its promoters are IEX and National Stock Exchange (NSE).
- GAIL (Gas Authority of India Limited), ONGC (Oil and Natural Gas Corporation Limited), Torrent Gas Pvt Ltd, and Adani Total Gas Ltd are its strategic investors.
- The Central Government has set a target of accelerating the share of gas in the energy sector to 15% by 2030.
About Indian Oil Corporation Ltd:
- Founded: 30 June 1959
- Headquarters: Mumbai, Maharashtra
- Chairman: Shrikant Madhav Vaidya
OneWeb & Hughes Network signed 6-year agreement to provide satellite broadband services in India
- Bharathi Group-backed OneWeb, a global communications company, and Hughes Network Systems has signed a 6-year distribution agreement to provide satellite broadband services across India.
- The service will be provided by Hughes Communications India Private Ltd (HCIPL) a joint venture of Hughes and Bharti Airtel.
- It will offer high-speed, low-latency satellite broadband solutions and contribute to the Digital India vision.
Appointment and Resignation
Manoj Pande appointed next Vice Chief of Army Staff
- The Government approved the proposal for the appointment of Eastern Army Commander Lieutenant General Manoj Pande as the next Vice Chief of Army Staff.
- General Pande would be the successor to Lt Gen CP Mohanty who is scheduled to superannuate on January 31. General Pande was commissioned into the Corps of Engineers (The Bombay Sappers) in December 1982. He was Director-General at Army Headquarters dealing with subjects of discipline, ceremonial and welfare.
List of Chiefs and DGS
- Army Chief– Manoj Mukund Naravane
- Naval Chief- R Hari Kumar
- Air Chief – Vivek Ram Chaudhari
- IB- Arvind Kumar
- BSF- Pankaj Kumar Singh
- CRPF- Kuldiep Singh
- RAW- Samant Goel
Awards
Pfizer Chairman & CEO Dr Albert Bourla won 2022 Genesis Prize
- The Genesis Prize Foundation has named Dr Albert Bourla, Chief Executive Officer (CEO) and Chairman of Pfizer as the 2022 Genesis Prize Laureate for his efforts in leading the development of the COVID-19 vaccine.
- The Genesis Prize, dubbed the “Jewish Nobel”, carries a cash prize of USD 1 Million.
- The prize is awarded to the winner for their professional achievements and contribution towards humanity and their commitment to Jewish Values.
Sports
Smriti Mandhana named in 2021 ICC T20I women’s Team of the Year
- Indian cricketer Smriti Mandhana was named in the 2021 ICC Women’s T20I team of the year. No other Indian Player is named in Men’s as well Women’s List.
- It is also the 3rd time Smriti Mandhana won the title for the T20I team of the year after 2018 (opener) and 2019 (number three).
- Nat Sciver from England was named as the captain of ICC Women’s T20I team of the year. Pakistan’s Babar Azam was named as the captain of ICC Men’s T20I team of the year.
About ICC:
- Founded: 1909
- Headquarters: Dubai, United Arab Emirates
- Chairman: Greg Barclay
- CEO: Geoff Allardice
Book and Author
Maharashtra Governor released a book ‘The Legend of Birsa Munda’; authored by Tuhin A Sinha & Ankita Verma
- Maharashtra Governor Bhagat Singh Koshyari released a book titled ‘The Legend of Birsa Munda’, authored by Tuhin A Sinha and co-authored by Ankita Verma.
- The Book is the story of a lesser-known tribal hero, Birsa Munda, who courageously fought against the oppressive British Raj for the rights of his tribal community.
About Maharashtra:
- Capital: Mumbai
- Governor: Bhagat Singh Koshyari
- Chief minister: Uddhav Thackeray
Important day
19 January 2022: Tripura celebrated 44th Kokborok Day
- Kokborok Day, also known as the Tripuri Language Day is annually celebrated across the Indian State of Tripura on 19th January with an aim to develop the Kokborok Language.
- The day commemorates the initial recognition of Kokborok as the official language in 1979. 19th January 2022 marks the observance of the 44th Kokborok Day.
- The Kokborok language, the official language of Tripura, is also known as Tripuri or Tiprakok. In 1979, Kokborok, along with Bengali and English, was declared an official language of the state of Tripura, India by the state government.
Obituary
Saturnino de la Fuente, the world’s oldest man passed away at the age of 112
- Guinness World Records holder for the oldest person living (male), Saturnino de la Fuente García (112 years & 341 days) has passed away at home in León, a city in northwest Spain.
- Saturnino claimed the record as the oldest person living (male) in September 2021 when he was exactly 112 years and 211 days.
- De la Fuente was a cobbler by trade and started working in a shoe factory at age 13. He was born in the Puente Castro neighborhood of León on Feb. 11, 1909.
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