Current Affairs 22th July 2022 Daily GK Update
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NHPC signed an MoU with DVC for setting up hydropower projects and pump storage projects
- NHPC (National Hydro Electric Power Corporation Private Limited) has signed an MoU with Damodar Valley Corporation (DVC) to explore the formation of a Joint Venture Company (JVC) for exploring and setting up hydropower and pump storage projects.
- It is in line with the national objective of energy transition i.e., 500 GW of renewable energy by 2030 and Net Zero by 2070.
- NHPC has an installed capacity of 7071.2 MW from 24 power stations, including two projects in joint venture mode, as per its web portal. Its plants generated 24,855 million units of power in 2021-2022.
- India and Maldives signed an MoU for judicial cooperation to accelerate court digitization.
- India signed an MoU with Namibia for wildlife conservation
- JSW Steel partnered with BCG to accelerate decarbonization journey
- Telangana government partnered with UNDP for Data in Climate Resilient Agriculture (DiCRA)
- NASSCOM partnered with Google for DigiVaani Call Center
India’s R&D spends amongst the lowest in the world: NITI Aayog study
- India’s spending on research and development (R&D) is among the lowest in the world, as per a study conducted by NITI Aayog and Institute for Competitiveness.
- R&D investment in India, in fact, has declined from 0.8% of the GDP in 2008-09 to 0.7% in 2017-18.
- Brazil, Russia, China and South Africa spend around 1.2%, 1.1%, above 2% and 0.8% The world average is around 1.8%.
- The India Innovation Index 2021 has found that the overall spending on R&D by India has been relatively low across the country. This was reflected in the overall share of gross expenditure on R&D (GERD) as a percentage of GDP, at about 0.7%.
- Developed countries the United States, Sweden, and Switzerland spend about 2.9%, 3.2% and 3.4%, respectively. Israel spends 4.5% of its GDP on R&D, the highest in the world.
NITI Aayog (National Institution for Transforming India)
- Founded – 1st January 2015
- Preceding – Planning Commission (15th March 1950)
- Headquarters – New Delhi
- Chairperson – Narendra Modi
- Vice Chairperson – Suman K Bery
- CEO – Parameswaran Iyer
- NITI Aayog comes under the Ministry of Commerce and Industry
NITI Aayog released report titled ‘Digital Banks’
- Government think tank NITI Aayog has made a case and offered a template and roadmap for a licensing and regulatory regime for digital banks that focuses on avoiding any regulatory or policy arbitrage and offers a level playing field to incumbents as well as competitors.
- NITI Aayog has released its report titled ‘Digital Banks: A Proposal for Licensing & Regulatory Regime for India.
- In it, it has made a case and offers a template and roadmap for a digital bank licensing and regulatory regime for the country.
- The report also maps prevalent business models in this domain. It highlights the challenges presented by the ‘partnership model’ of neo-banking–which has emerged in India due to a regulatory vacuum and in the absence of a digital bank license.
- The report suggested the introduction of a restricted Digital Business bank licence and a restricted Digital Consumer Bank license.
NITI Aayog released 3rd edition of India Innovation Index
- The third edition of the India Innovation Index has released by Suman Bery by Vice-Chairman of NITI Aayog.
- The index evaluates and ranks the states and union territories on their innovation performance.
- The government agency has expanded the indicators to 66 from 36 in last edition, with a focus on uniqueness.
- The states and the union territories have been divided into 17 major states, 10 North-East and Hill States, and 9 union territories to effectively compare their performance.
- Karnataka, Manipur and Chandigarh have topped in their respective categories in the Third Edition of NITI Aayog’s India Innovation Index.
- Karnataka has topped again in the Major States category, Manipur is leading the North East and Hill States category and Chandigarh is the top performer in the Union Territories and City States Category.
Recent Ranking 2022
- World Press Freedom Index 2022: India ranked 150th; Norway topped
- UNCTAD’s World Investment Report: India ranked 7th among recipients of FDI in CY 2021; US topped
- Global Environmental Performance Index 2022: 180th; Denmark topped
- IMD’s World Competitiveness Index 2022: 37th; Denmark topped
- Expat Insider Rankings for 2022: India ranks 36th topped by Mexico
Himachal Pradesh becomes the 1st Indian state to connect all registered commercial vehicles equipped with VLTD with ERSS
- Himachal Pradesh has become the first state in the country to connect all registered commercial vehicles equipped with Vehicle Location Tracking Device (VLTD) with Emergency Response Support System (ERSS). These vehicles can be tracked anywhere in India through VLTD.
- Chief Minister Jai Ram Thakur formally inaugurated the system at a program organized at Peterhof, in Shimla.
- He also introduced the facility of panic button for the safety of women and children in public vehicles.
- The Vehicle Location Tracking Device with Emergency Panic Button System and Command Control Center has been connected with Emergency Response Support System 112. When the panic button is pressed, a signal would be received through satellite to 112 and the person in distress would be connected and alert the police.
About Himachal Pradesh
- Capital – Shimla (Summer), Dharamshala (Winter)
- Chief Minister – Jai Ram Thakur
- Governor – Rajendra Vishwanath Arlekar
India signed an MoU with Maldives for Judicial cooperation
- India and Maldives have signed an MoU for judicial cooperation to accelerate court digitization.
- This is the eighth MoU for judicial cooperation.
- The MoU will provide a platform to tap benefits of information technology for court digitization and can be a potential growth area for IT companies and startups in both the countries.
- In recent years, the close relationship between India and Maldives has intensified multi-dimensionally. The signing of this agreement will deepen these ties.
- It will not only enable exchange of knowledge and technology in judicial and other legal areas between the two countries but will also further objectives of ‘Neighbourhood-First’ policy.
- RIL partnered with Athletics Federation of India to support Indian Athlete
- Vedanta partners with IIT Madras incubated startup
- SBICAP Ventures Ltd (SVL) signed an MoU with MEA for Trilateral Development Cooperation Fund
- HAL signed an agreement with Safran to build helicopter engines
- Health Ministry and Panchayati Raj Ministry signed an MoU to eliminate TB
Banking and Financial
Standard Chartered Bank & EaseMyTrip launched co-branded credit card
- Standard Chartered Bank has launched a co-branded credit card with EaseMyTrip to offer exclusive travel benefits with instant discounts and reward points to cardmembers.
- This credit card offers flat 20% instant discount on domestic & international hotel bookings, flat 10% on domestic & international flight bookings on EaseMyTrip.
- Cardholders can earn accelerated reward points on flight, hotel bookings at standalone airlines and hotel websites and apps. Reward points earned can be redeemed on the rewards catalogue of Standard Chartered Bank, across multiple brands including EaseMyTrip.
ADB cuts India’s GDP growth forecast to 7.2% from 7.5% for FY23
- The Asian Development Bank has cut its economic growth forecast for India to 7.2% for 2022-23 from 7.5% estimated in April because of higher-than-expected inflation and monetary tightening.
- It also lowered the GDP growth estimate for 2023-24 to 7.8% from the 8% estimated earlier.
- Raised the inflation forecast for India to 6.7% for FY23 from the 5.8 % estimated earlier.
- Private investment would soften due to the higher cost of borrowing for firms as the RBI continues to raise policy rates to contain inflation.
- The RBI’s monetary policy committee hiked the repo rate by 90 basis points in two consecutive months, May (an off-cycle policy review) and June, raising the repo rate to 4.9%.
Updated GDP List
- World Bank – 7.5% (FY23), 7.1%(FY24)
- MOODY’S. – 8.8% (FY23)
- S&P – 7.3% (FY23)
- IMF – 8.2% (FY23)
- ADB – 7.2% (FY23), 7.8%(FY24)
- RBI – 7.2% (FY23)
- FITCH RATING – 7.8.% (FY23)
- FICCI – 7.4% (FY23)
- OECD – 6.9% (FY23), 6.2% (FY24)
- CRISIL – 7.3% (FY23)
- NSO – 8.7%. Q4 – 4.1% (FY23)
- SBI Ecowrap – 7.5% (FY23)
- Morgan Stanley – 7.2% (FY23), 6.4%(FY24)
Appointment and Resignation
Vinayak Pai appointed as Managing Director of Tata Projects
- TATA Projects Limited has appointed Vinayak Pai as its Managing Director.
- Vinayak Pai has taken over the reins from Vinayak Deshpande.
- Pai is backed by over three decades of experience with leading engineering and EPC companies where he held key positions across various teams working towards Engineering Design, Technology Licensing, Project Management, Business Development, and Operations.
- TATA Projects is one of the fastest growing and most admired infrastructure companies in India. It has expertise in executing large and complex urban and industrial infrastructure projects.
- The company provides turnkey end-to-end solutions to set up fully integrated rail and metro lines, commercial buildings and townships, data centres and airports, power generation plants, power transmission and distribution systems, oil and gas refineries, chemical process plants, water and wastewater management solutions, complete mining and metal purification systems.
- It is currently executing some of the most marquee projects across India such as the New Parliament Building, Jewar Airport, and Refinery Units at Barmer, Mumbai Trans-Harbour Link, Multiple Stretches of Dedicated Freight Corridors, and Metro Rail Lines across multiple cities such as Mumbai, Pune, Delhi, Lucknow, Ahmedabad and Chennai.
- Managing Director of ONGC Videsh Limited – Rajarshi Gupta
- Member of UPSC – Lt. Gen. Raj Shukla
- MD of RattanIndia Power – Brijesh Gupta
- Director (Technical) of REC – VK Singh
- MD & CEO of NSE – Ashish Kumar Chauhan
- Non-independent non-executive director of IndiGo – M Damodaran
Jayanti Prasad appointed as Whole time Member of IBBI
- The central government has appointed Jayanti Prasad as a Whole time Member of the Insolvency and Bankruptcy Board of India (IBBI) for five years.
- He has been appointed for a period of five years from the date of assumption of charge of the post i.e. with effect from the 5th July, 2022 or up to the age of sixty-five years.
- Prasad is a 1986 batch Indian Audit & Accounts Service Officer. He had superannuated as Deputy Comptroller & Auditor General (Human Resources and International Relations). Before joining IBBI on July 5, he had accomplished 35 years of experience in the civil services, and national and international assignments, having held key positions in the office of the Comptroller and Auditor General of India and the United Nations.
About Insolvency and Bankruptcy Board of India (IBBI)
- Founded- 1 October 2016
- Headquarters- New Delhi
- Chairperson– Ravi Mittal
- Under – Ministry of Corporate Affairs
- Deputy election commissioner – R K Gupta
- President of International Fund for Agricultural Development (IFAD) – Alvaro Lario
- Director General of Federation of Indian Fantasy Sports (FIFS) – Joy Bhattacharjya
- India’s next Ambassador to Bhutan – Sudhakar Dalela
- NaBFID Managing Director – G Rajkiran Rai (recommend)
- Additional charge as NIACL CMD – Madhulika Bhaskar
Droupadi Murmu elected as the 15th President of India
- Former Jharkhand Governor and National Democratic Alliance (NDA) candidate Droupadi Murmu has elected the 15th President of India.
- With this victory, Murmu, 64, became the first person from the tribal community to occupy the Rashtrapati Bhavan and only the second woman after Pratibha Patil to be appointed to the country’s top constitutional post.
- Droupadi Murmu has been elected as the 15th President of India, after securing 64% of the votes, her opposition Candidate Yashwant Sinha has got 36%.
- CJI, N V Ramana will administer the oath of office to Droupadi Murmu.
- She was born in Mayurbhanj district of Odisha.
- She served as Governor of Jharkhand from 2015 to 2021.
- Additional Information
The Indian President is elected through an electoral college system. Wherein the votes are cast by national and State-level lawmakers.
The elections are conducted and overseen by the Election Commission (EC) of India.
The electoral college is made up of all the elected members of the Upper and Lower Houses of Parliament (Rajya Sabha and Lok Sabha MPs), and the elected Members of the Legislative Assemblies of States and Union Territories (MLAs).
Related Constitutional Provisions-
- Article 54: Election of President
- Article 55: Manner of election of President
- Article 56: Term of office of President
- Article 57: Eligibility for re-election
- Article 58: Qualifications for election as President
Here are 10 things to know about the President of India’s salary, perks and retirement benefits –
- The salary of the Indian president is ₹5 lakh per month. It was raised in 2016 by 200% from ₹1.5 lakh.
- Once a president retires, he or she gets a pension of ₹1.5 lakh. The spouses of presidents get secretarial assistance of ₹30,000 per month.
- The president gets free housing and medical care and ₹1 lakh annually for office expenditures.
- Rashtrapati Bhavan is the official residence of the President of India. It has 340 rooms and a floor area of 2,00,000 square feet.
- The president has two official retreats where he or she can go on vacation. One is in Shimla’s Mashobra the other is in Hyderabad’s Bolarum.
- The president gets to travel free by train and plane anywhere in the world.
- The president gets a custom-built Black Mercedes Benz S600 (W221) Pullman Guard. A heavily armoured stretch limousine is also reserved for the president’s official visits.
- The details of the President of India’s cars are never revealed because of security reasons. Also, these cars do not have a license plate and instead display the national symbol.
- The President’s Bodyguard is responsible for the security of the President of India.
- Apart from the pension, there are some other post-retirement benefits for the President of India, including one furnished rent-free bungalow, two free landlines and a mobile phone, fiver personal staff, ₹60,000 a year for the expenses of the staff, and free travel with a companion by train or air.
Malayalam filmmaker KP Kumaran honoured with JC Daniel Award 2022
- Malayalam filmmaker KP Kumaran has been honoured with Kerala’s highest film award, the JC Daniel Award.
- He won the award for his contribution to the Malayalam film industry.
- The award comprises a cash prize of Rs 5 lakh, a citation, & a plaque.
- Kumaran made his directorial debut with Athithi in 1975 & won the National Award for Best feature film in Malayalam for his film Rugmini in 1989.
- Mother Teresa Memorial Award by the Maharashtra govt. – Dia Mirza & Afroz Shah
- Mrs Universe Divine Crown in South Korea – Pallavi Singh (India)
- Order of the Rising Sun, Gold and Silver Star award by Japan Govt. – Narayanan Kumar VC of Sanmar Group
- CII Quality Ratna Awards 2021 – Ashok Soota
- Shiromani Award at NRI World Summit 2022 – Michelle Poonawalla
- Best Film award at the IIFA Awards – Shershaah
Book and Author
‘Beyond The Misty Veil, Temple Tales of Uttarakhand’ book released, written by Aradhana Johri
- Uttarakhand CM Pushkar Singh Dhami has unveiled a book titled ‘Beyond the Misty Veil, Temple Tales of Uttarakhand’
- It has been written by retired senior IAS officer, Aradhana Johri.
- In her book, Johri talks about several shrines in Uttarakhand and outlines their history.
- The book also talks about the tales associated with them.
- The McMahon line- A century of discord – former Chief of Army Staff General JJ Singh (Retd).
- The Winning Formula for Success – Vinit Karnik
- Fearless Governance – Dr Kiran Bedi
- Bhartiya Samvidhan Ankani Kahani – Ram Bahadur Rai
- The Life and Times of Georeg Fernandes – Rahul Ramgundan
- The Struggle for Police Reforms in India- Ruler’s Police to People’s Police – Prakash Singh
- A Place Called Home – Preeti Shenoy
- Tomb of Sand – Geetanjali Shree
- Listen to Your Heart- The London Adventure – Ruskin Bond
- Shuttling to the Top- The Story of P.V. Sindhu – V. Krishnaswamy
- Leaders, Politicians, Citizens – Rasheed Kidwa
22 July – World Brain Day
- World Brain Day is observed on every July 22.
- Objective – To create awareness on brain health.
- The World Federation of Neurology which was established on the same day in 1957 had proposed to observe the day as World Brain Day in the year 2014.
- Theme 2022 – Brain Health for all
Noted scientist and director ILS, Ajay Parida passed away
- Noted scientist and director of the Institute of Life Sciences (ILS), Bhubaneswar Dr Ajay Kumar Parida has passed away at 58.
- He was awarded the Padma Shri Award by the President of India in 2014 for his outstanding contribution in the field of Science and Engineering.
- He had also served as an Executive Director in M. S. Swaminathan Research Foundation.
- His researches are mainly focused on developing climate resilient crop varieties with abiotic stress tolerance.
- Avdhash Kaushal – Noted social worker
- Barry Sinclair – Former New Zealand cricket captain
- Monty Norman – British composer
- Enamul Haque – Renowned archaeologist
- Luis Echeverria – Former Mexico President
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