Current Affairs 24th March 2022, Daily GK Update

Current Affairs 24th March 2022, Daily GK Update

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National News

Union Health Minister launched BRICS Vaccine R&D Centre

• Mansukh Mandaviya, Union Minister of Health and Family Welfare, launched the BRICS Vaccine Research & Development (R&D) Center and Workshop on Vaccine Cooperation through a video conference in New Delhi, Delhi.
• India plans to offer its robust vaccine manufacturing industry for developing vaccines for BRICS (Brazil, Russia, India, China, and South Africa) countries and also the world.
• India supplies vaccines to more than 150 countries and is home to one of the world’s largest vaccine manufacturing industries. It also fulfills 65-70% of vaccine requirements of the World Health Organization (WHO). It has so far administered more than 81 billion vaccination doses.
• A BRICS Vaccine R&D Centre was proposed to be established in the 2018 Johannesburg Declaration. During the XIII BRICS Summit: New Delhi Declaration, 2021, the leaders reaffirmed their commitment to the early launch of the BRICS Vaccine R&D Centre.

About BRICS:

• Founded: June 2006
• Members: Brazil, Russia, India, China, and South Africa
• 2022 Chair: China
• Theme for BRICS 2022: “Foster High-Quality BRICS Partnership Usher in a New Era for Global Development”.

India’s merchandise exports touched $400 Billion for the first time in a financial year in FY22

• The merchandise exports sector of India successfully met the $400 billion target which was set for 2021-22 (FY22), nine days ahead of schedule, which translated into a 37% increase over exports worth $292 billion in FY21.
• The exports in India contracted almost 7% in FY21 from a year before to $292 billion, due to the Covid outbreak. Later with the drastic increase in demand and advanced economies, the export sector recovered itself.
• The highest merchandise export of $330 billion was achieved in FY19. It witnessed fluctuations between $250 billion and $330 billion a year since FY11. The services exports are also estimated to exceed the target of $250 billion.

Jal Shakti Minister launched Sujalam 2.0 campaign for greywater management in New Delhi

• Union Minister of Jal Shakti, Shri Gajendra Singh Shekhawat launched the Sujalam 2.0 campaign for greywater management.
• The event was hosted by the Department of Drinking Water and Sanitation (DDWS), Ministry of Jal Shakti to mark World Water Day, 2022.
• ‘Groundwater: making the invisible visible’ is the theme for this campaign. The aim of managing greywater through the participation of the people.

Banking and Financial

SBI, HDFC, Kotak Mahindra, and Axis Bank picked up 7.84% stake each in ONDC for Rs 10 crore

• State Bank of India (SBI) has invested Rs 10 crores to pick up 7.84% stake in Open Network for Digital Commerce (ONDC), an open-source e-commerce platform engaged in creating an open public digital infrastructure.
• The transaction does not require any regulatory approval as the acquisition of shareholding was below 10%.
• SBI is the 2nd public sector bank to buy the stake in ONDC, after Punjab National Bank (PNB). In November 2021, PNB has proposed to invest as a promoter in ONDC by acquiring a 9.5% stake in ONDC. 
• HDFC Bank, Kotak Mahindra Bank, and Axis Bank have invested Rs 10 crore each and acquired 7.84% stake each in ONDC. Kotak Mahindra Bank has subscribed to 10,00,000 equity shares of ONDC for a consideration of Rs 10 crore, translating into an equity shareholding of a 7.84% stake in ONDC.
• ONDC has allotted 10,00,000 equity shares of the face value of Rs 100 each for a consideration of Rs 10 crore to Axis Bank. At present, the bank holds a 7.84% stake in ONDC.

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

SBI Card partnered with Nature’s Basket to launch the International Gourmet Card

• SBI Card, India’s pure-play credit card issuer and second largest credit card provider, has teamed up with Nature’s Basket, India’s premier multi-channel gourmet retailer, to launch the ‘Nature’s Basket SBI Card’, a first-of-its-kind credit card.
• This credit card will be a welcome addition to SBI Card’s existing impressive premium portfolio, as it will cater to the cardholder’s specific lifestyle spending demands, such as groceries and gourmet foods.
• The card is to be introduced in two variants: ‘Nature’s Basket SBI Card’ and ‘Nature’s Basket SBI Card Elite’ and will be available from the first fortnight of April 2022.
• The annual membership fee of Nature’s Basket SBI Card and its Elite version will be Rs 1499 and Rs 4,999 respectively. It will be launched on Visa platform.

About SBI Card:

• Establishment: 1998
• Headquarters: Gurugram, Haryana
• Managing Director & CEO: Rama Mohan Rao Amara

ICICI Bank partnered with IPL team Chennai Super Kings for co-branded credit card

• ICICI Bank announced that it has launched a co-branded credit card in partnership with Chennai Super Kings (CSK).
• The ‘Chennai Super Kings ICICI Bank Credit Card’ has been designed with a range of privileges including joining and renewal gifts of 2000 reward points that can be redeemed against CSK merchandise.
• It also offers complimentary tickets to CSK matches during the playing season. Credit card users will also get an opportunity to attend a practice session.
• Other key benefits include 10 reward points on all retail spends on the Chennai Super Kings match days and 2 reward points on all retail spends on other days. Card users will also get complimentary access to domestic airport lounges in India and 1% fuel surcharge waiver on HPCL fuel pump.

About ICICI Bank:

• Founded: 1955 (Incorporated in 1994)
• Headquarters: Vadodara
• MD & CEO: Sandeep Bakhshi
• Chairperson: Girish Chandra Chaturvedi
• Executive Director: Anup Bagchi
• Tagline: Hum Hai Na, Khayal Apka

OECD projected India’s GDP growth at 8.1% for FY23

• The Organization for Economic Cooperation and Development (OECD) has retained the outlook for India’s real gross domestic product (GDP) at 5.5% in FY24, lower than 8.1% in 2022-23.
• In its Economic Outlook for Southeast Asia, China and India, the agency said that China’s economy is seen growing 5.1% in both 2022 and 2023.
• Driven by infrastructure spending and border reopenings, the GDP of emerging Asia – China, India and the 10 members of the Association of Southeast Asian Nations (ASEAN)– is projected to grow 5.8% this year, following a 7.4% expansion in 2021 and a 0.8% contraction in 2020, it said.

Note: India GDP projected for FY23 (2022-2023)

• Word Bank-8.3%, 8.7% in 2022-23
• ICRA-9% in FY22 and FY23
• Crisil-9.5%, 7.8 for FY23
• Fitch Ratings-8.5% for FY23
• India Ratings and Research (Ind-Ra)- 8.6% for FY22, 7.6% in FY23
• Economic Advisory Council to PM: 7.0-7.5% in FY23, 5% in FY22
• Goldman Sachs: 9.1% in FY22
• Economic Survey 2021-22: 8-8.5% for FY23

DBS Bank India launched Green Deposits programme

• DBS Bank India has announced the launch of the Green Deposit Programme for corporate clients which will provide a simple way for the companies to support environmentally friendly projects or avenues.
• This is in line with the focus on DBS Bank India on responsible banking. Under the bank’s sustainability programme, Green Deposits will fund green industries and initiatives such as green building sustainable water initiatives that include wastewater management, renewable energy and clean transportation.
• DBS Bank is one of the few banks globally to integrate Sustainable Development Goals by offering lending & trade credit solutions to sustainable and environmentally-friendly green sectors and now offering a Green Deposit product.

About DBS Bank India:

• Headquarters: Mumbai, Maharashtra
• MD & CEO: Surojit Shome

Awards

American mathematician Dennis P. Sullivan won Abel prize 2022

• The Norwegian Academy of Science and Letters has awarded the Abel Prize for the year 2022 to American Mathematician Dennis Parnell Sullivan, who is with the Graduate School and University Center of the City University of New York and the State University of New York at Stony Brook.
• The award has been given to him, “For his groundbreaking contributions to topology in its broadest sense, and in particular its algebraic, geometric and dynamical aspects.”
• Topology is a field of mathematics that was born in the nineteenth century and has to do with properties of surfaces that do not change when they are deformed.
• Dennis P. Sullivan has won numerous awards, among them the Steele Prize, the 2010 Wolf Prize in Mathematics, and the 2014 Balzan Prize for Mathematics. He is also a fellow of the American Mathematical Society.
• The first prize was given in 2003 to French mathematician Jean-Pierre Serre. Srinivasa Varadhan, an Indian American citizen won the Abel Prize in the year 2007.

Kiran Mazumdar-Shaw elected Fellow of Royal Society of Edinburgh (RSE) in Scotland

• Kiran Mazumdar-Shaw, executive chairperson of Biocon and Biocon Biologics, has been elected as a fellow of the Royal Society of Edinburgh (RSE).
• She will be joining RSE’s current fellowship of around 1,700 fellows who are recognised as being some of the greatest researchers and practitioners working in or with Scotland today.
• RSE is one of the world’s oldest and most respected academic societies. Fellows are elected to join the RSE from across the fields of science, arts, education, business and public life in recognition of their impact in improving the world around them.
• The Biocon chief is among the 80 luminaries to be appointed to the RSE’s Fellowship this year.

Defence

Defence Ministry approved military acquisitions worth Rs 8,357 crores

• The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, accorded Acceptance of Necessity (AoN) for capital acquisition proposals of armed forces worth INR 8,357 crore.
• This will enhance the operational preparedness of the Armed forces. All the AoN have been approved under the ‘Buy Indian IDDM (Indigenously Designed, Developed and Manufacture)’ category in order to encourage AtmaNirbhar Bharat.
• The approved proposals include procurement of night sight (image intensifier), light vehicles GS 4X4, air defense fire control radar (light), and GSAT-7B satellite.
• The Defence Acquisition Council (DAC) in order to encourage innovation, accorded the sum of Rs 308.43 crore of the Acceptance of Necessity (AoN) for procurements to the iDEX startups and MSMEs.

Indian Army with Maharashtra Police conducted Joint Security Exercise “Suraksha Kavach 2”

• Indian Army’s “Agnibaaz Division” organized a joint exercise “Suraksha Kavach 2” with Maharashtra Police at Lullanagar, Pune. The exercise aimed to counter any terrorist actions in Pune.
• The exercise involved the participation of the Counter-Terrorism Task Force (CTTF) of the Indian Army, Anti-Terrorism Squad of Maharashtra Police along with Quick Reaction Teams (QRTs), Dog Squads, and Bomb Disposal Teams of both agencies.
• Aim: The exercise aimed to harmonize the drills and procedures undertaken by Army and Police to counter-terrorism.

Science

OneWeb signed an agreement with SpaceX to resume its LEO Satellite launches

• OneWeb, the low Earth orbit (LEO) satellite communications company of Bharti Enterprises, and Other investors signed an agreement with SpaceX to resume the launch of satellites.
• The first launch with SpaceX is expected in 2022 and will add to OneWeb’s total in-orbit constellation that is currently at 428 satellites, or 66% of the fleet.
• OneWeb’s network will deliver high-speed, low latency global connectivity. The deal with SpaceX will allow OneWeb to complete its remaining satellite launches from Texas, the United States (US), which were struck due to Russia-Ukraine conflicts.
• Earlier, the launch was planned from Russia’s Baikonur Cosmodrome. But since the UK government has a 19.8 % stake in OneWeb, Russian space agency Roscosmos demanded the withdrawal of the UK from the project.

About SpaceX (Space Exploration Technologies Corp):

• Founded: 2002
• Headquarters: Hawthorne, California, United States
• Founder and CEO: Elon Musk

Book and Author

A Children’s Book ‘The Little Book of Joy’ authored by Dalai Lama & Desmond Tutu

• A picture book edition co-authored by Nobel Peace Prize winners 14^th Dalai Lama (Tenzin Gyatso) & Archbishop Desmond Tutu, titled “The Little Book of Joy” will be released in September 2022.
• In 2016, they also co-authored the book titled “The Book of Joy: Lasting Happiness in a Changing World”, which became a bestseller & sold more than 1 million copies and translated into more than 40 languages.
• The illustrations provided by artist Rafael López and Rachel Neumann & Douglas Abrams collaborated on the text.
• This book focuses on the meaning of true happiness, which is not in the materialistic world but lies in the nature of human beings.

Important day

24 March: World Tuberculosis Day

• World Tuberculosis (TB) Day is celebrated every year on 24 March to commemorate the date when Robert Koch announced his discovery of Mycobacterium tuberculosis, the bacillus that causes TB in 1882.
• This Day is observed to educate people about TB, its impact around the world. Tuberculosis (TB) a serious infection of the lungs is caused by a bacterium that spreads through tiny droplets released in the air when one coughs or sneezes.
• The term tuberculosis was coined by Johann Schonlein in 1834. India has set the target to make the country TB free by 2025.
• Theme 2022: ‘Invest to End TB. Save Lives.’

24 March: International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims

• Every year on 24 March, “International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims” is observed
• This annual day is observed to honor “Monsignor Óscar Arnulfo Romero,” who was assassinated on 24 March 1980. Monsignor Romero was actively engaged in denouncing violations of the human rights of the most vulnerable individuals in El Salvador.
• On 21 December 2010, the United Nations General Assembly proclaimed 24 March as the International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims.

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