Current Affairs 26th May 2022 Daily GK Update

Daily GK & Current affairs is very important for any Government and other Competitive Exams. All the important updates based on current affairs 2022 are included in this Daily Current Affairs 26 May 2022 article.

Current Affairs 26th May 2022 Daily GK Update

Daily Current Affairs 2022: Daily GK update is the most important section for any competitive examination. Current affairs are generally asked from the last 5-6 months, so here, Ambitious Baba regularly updates the Daily GK Update & daily Current affairs 2022.

If you are preparing for Government Job Exams, then it is very important for you to read the Daily Current Affairs 2022, Daily GK Update 2022. All the important updates based on current affairs 2022 are included in this Daily Current Affairs 2022 article.

All the serious candidates are advised to bookmark this page and read the GK Update on a daily basis. It will help you mug up the important current affairs 2022 / Daily GK Update for LIC, IBPSSBI POSSCRailwaysSBI Clerk 2022 State, and NRA CET Exam of 2022.

Table of Contents

National News

Inter-State Council reconstituted under the chairmanship of PM; Amit Shah Chairman of Standing Committee

Inter-State Council reconstituted under the chairmanship of PM; Amit Shah Chairman of Standing Committee

  • The Inter-State Council, which works to promote and support cooperative federalism in the country, has been reconstituted with Prime Minister Narendra Modi as chairman and chief ministers of all states, six Union ministers as members, and Ten Union Ministers as permanent invitees.
  • In a separate notification the Union Government also reconstituted the Standing Committee of the Inter-State Council with the Union Home Minister Amit Shah as its Chairman. 
  • The union ministers who were made members of the council are: Rajnath Singh, Amit Shah, Nirmala Sitharaman, Narendra Singh Tomar, Virendra Kumar, Hardeep Singh Puri.
  • Union Ministers as permanent invitees are: Nitin Gadkari, S Jaishankar, Arjun Munda, Piyush Goyal, Dhamendra Pradhan, Pralhad Joshi, Ashwini Vaishnaw, Gajendra Singh Shekhawat, Kiren Rijiju and Bhupender Yadav.

List of Latest Committee and Headed by

  • 17-member committee by MeitY to steer, guide semiconductor mission: Ashwini Vaishnaw
  • 13-member panel by government of Tamil Nadu to frame the state education policy: D Murugesan
  • Ministry of Information and Broadcasting constituted AVGC Promotion Task Force: Apoorva Chandra
  • SC reconstituted expert committee for Delhi-Dehradun Economic Corridor Expressway project: Chandra Prakash Goyal
  • SEBI reconstituted its advisory committee for leveraging regulatory and technology solutions: Sunil Bajpai

Uttar Pradesh launched ‘SAMBHAV’ portal to monitor grievances, schemes related to energy

  • Minister for energy and urban development, Uttar Pradesh, Arvind K Sharma has launched ‘SAMBHAV’ (Systemic Administration Mechanism for Bringing Happiness and Value) portal to monitor the grievances, schemes, programmes and policies of the departments.
  • SAMBHAV is a multi-modal platform; it helps to dispose public grievances swiftly and effectively and provide good governance and make the public service delivery transparent and accountable.
  • SAMBHAV will work as an Information and Communication Technology (ICT) platform for flagging grievances received from the public to the concerning officers who have been provided login IDs.

About Uttar Pradesh:

  • Capital: Lucknow
  • Chief Minister: Yogi Adityanath
  • Governor: Anandiben Patel

SC appointed 3-member committee to manage functioning of All India Football Federation; headed by AR Dave

SC appointed 3-member committee to manage functioning of All India Football Federation; headed by AR Dave

  • The Supreme Court appointed a three-member Committee of Administrators (CoA) to oversee the affairs of theAll India Football Federation (AIFF) and the adoption of its constitution in accordance with the National Sports Code and model guidelines, led by former apex court judge AR Dave.
  • The COA will include two previous members — Dr SY Qureshi, former Chief Election Commissioner, and Bhaskar Ganguly, former captain of the Indian Football Team, in addition to Retired Justice Dave, according to a bench of Justices DY Chandrachud, Surya Kant, and PS Narasimha.
  • The top court stated that the current state of affairs in the AIFF is not conducive to the federation’s legitimate governance. It instructed the CoA to assume control of the AIFF immediately and oversee the AIFF’s approval of the constitution.

List of Latest Committee and Headed by

  • SEBI reconstituted 21 members Market Data Advisory Committee (MDAC): M S Sahoo
  • SEBI restructured Secondary Market Advisory Committee (SMAC): Gurumoorthy Mahalingam
  • SC appointed panel for recovery of money from NSEL defaulters: Pradeep Nandrajog
  • SEBI constituted Advisory Committee for ESG-related matters: Navneet Munot
  • RBI constituted committee to review customer service standards at banks, NBFCs: B.P. Kanungo

India’s 1st Olympic Values Education Programme launched in Odisha

  • India’s first ‘Olympic Values Education Programme’ (OVEP) by the International Olympic Committee (IOC) was launched in Odisha.
  • It will be implemented in 90 schools across two smart cities Bhubaneswar and Rourkela in the first phase. OVEP launched in 27 schools in Rourkela and 63 schools in Bhubaneswar.
  • The OVEP was officially launched by Odisha CM Naveen Patnaik, IOC Member Nita Ambani along with other members.
  • This programme will be integrated into the school education system of Odisha. The programme is being developed in partnership with the Government of Odisha’s Department of School and Mass Education and the Abhinav Bindra Foundation Trust.

About International Olympic Committee (IOC):

  • Founded: 23 June 1894, Paris, France
  • Headquarters: Lausanne, Switzerland
  • President: Thomas Bach
  • Director-General: Christophe De Kepper

International News

IAF ranked 3rd in World Air Power Index 2022

  • World Directory of Modern Military Aircraft (WDMMA) has released the World Air Powers Ranking of 2022.
  • The Indian Air Force (IAF)has been placed at the third position on the World Air Power Index in terms of the total fighting strength of the various air services of different nations of the world.
  • This report has placed the Indian Air Force (IAF) above the Chinese Aviation based armed forces (PLAAF), Japan Air Self-Preservation Power (JASDF), Israeli Aviation based armed forces, and French Air and Space Power. The report says that the Indian Air Force (IAF) currently counts 1,645 total units in its active aircraft inventory.
  • The Global Air Powers Ranking (2022) report has given the highest TvR score to the United States Air Force (USAF). The highest attainable TvR score is 9 held by the United States Air Force (USAF).

India joined US-led Indo-Pacific Economic Framework

  • Prime Minister Narendra Modi has formalised India’s entry into the Indo-Pacific Economic Framework (IPEF), along with 12 other countries to strengthen economic cooperation as a geostrategic counter to China’s growing clout in the region.
  • USA clarified that the IPEF is not a free trade agreement (FTA). Thus, it neither seeks to replace the 11-nation CPTPP (Trans-Pacific Partnership) nor the RCEP.
  • The other 13 countries that joined the IPEF: The US, Australia, Brunei Darussalam, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. The 13 countries together account for 40% of world GDP.

WEF’s Travel and Tourism Development Index 2021; India ranked 54; Japan topped

WEF's Travel and Tourism Development Index 2021; India ranked 54; Japan topped

  • World Economic Forum’s (WEF) has released the Travel & Tourism Development Index 2021 which comprises 117 countries.
  • India is the top scorer in South Asia and placed at 54th  In 2019, India had ranked at 46th position.
  • The top place has been grabbed by Japan. The country is followed by the United States, Spain, France, and Germany. The bottom position (117) is occupied by the country Chad.
  • The theme of the WEF’s Travel and Tourism Development Index 2021 is “Rebuilding for a Sustainable and Resilient Future”.
  • This index is the Travel and Tourism Competitiveness Index’s direct evolution, having been published biennially for the last 15 years.

Top 10 countries:

  1. Japan (5.2)
  2. United States (5.2)
  3. Spain (5.2)
  4. France (5.1)
  5. Germany (5.1)
  6. Switzerland (5.0)
  7. Australia (5.0)
  8. United Kingdom (5.0)
  9. Singapore (5.0)
  10. Italy (4.9)

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

  • World Happiness Report 2022: 136th; Finland topped
  • Knight Frank’s Global House Price Index Q4 2021: 51st; Turkey topped
  • SIPRI’s “Trends in World Military Expenditure, 2021” report: India’s military spends 3rd highest in the world; US topped
  • Chainalysis 2021 Cryptocurrency Gains by Country: India ranked 21st in estimated Crypto Gains in 2021, US topped
  • World Press Freedom Index 2022: India ranked 150th; Norway topped

Banking and Financial

UCO Bank signed co-lending agreement with Paisalo Digital Ltd for agriculture business 

  • UCO Bank has entered into a co-lending agreement for agricultural business with Paisalo Digital Limited, a Non-Banking Financial Company (NBFC).
  • The co-lending agreement aims to tap into the Rs. 8 lakh crore market for small-ticket loans for the 365 million people who are unbanked and underserved.
  • Under the co-lending model (CLM), banks will be allowed to co-lend with all registered NBFCs, including housing finance companies (HFCs) based on a prior agreement.
  • The partnership will aid UCO bank’s agricultural advancements, and it is a win-win situation for both the bank and the Paisalo Digital Limited NBFC, with advantages reaching the bottom of the society.

About UCO Bank:

  • Establishment: 1943 (Incorporated as United Commercial Bank Limited)
  • Headquarters: Kolkata, West Bengal
  • MD and CEO: Soma Sankara Prasad
  • Tagline: Honours your Trust

GIC bought 7.5% stake in Aditya Birla Fashion and Retail for Rs 2,195 crore

  • Singapore’s sovereign wealth fund, GIC is acquiring a 7.5% equity stake in Aditya Birla Fashion and Retail (ABFRL) for Rs 2,195 crore.
  • The investment will be made by way of preferential equity and warrants. In the first tranche, the GIC will invest Rs 770 crore, while the rest amount of Rs 1,425 crore would be infused within 18 months.
  • After the investment, Aditya Birla Group will hold a controlling stake of 51.9% in the company.

Mahagram partnered with IndusInd Bank to enhance digital payments ecosystem

  • Rural NEO Bank Mahagram has tied up with the IndusInd Bank to digitize the nation’s payment ecosystem and provide a wider scope to transact for its customers in rural India.
  • The partnership between the two aims to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy, and accelerate the growth of a cashless society.
  • Mahagram was founded in 2015to enable rural women to save money at the local Kirana stores.

About IndusInd Bank:

  • Founded: 1994
  • Headquarters: Mumbai, Maharashtra
  • MD & CEO: Sumant Kathpalia
  • Tagline: We Make You Feel Richer

Appointment and Resignation

Captain Abhilasha Barak became 1st woman combat pilot in Indian Army

Captain Abhilasha Barak became 1st woman combat pilot in Indian Army

  • Haryana’s Captain Abhilasha Barak has become the first woman officer to join the Army Aviation Corps as a combat aviator after successfully completing her training.
  • She was awarded the coveted wings along with 36 other army pilots by the DG and Colonel Commandant of Army Aviation in Nashik. She has been assigned to the second flight of 2072 Army Aviation Squadron.
  • She was commissioned into the Indian Army from the Officers Training Academy, Chennai in 2018.

Awards

Rolls-Royce India president Kishore Jayaraman got top British honour

  • Kishore Jayaraman, President, India and South Asia for Rolls-Royce, has received an honorary Officer of the Order of the British Empire (OBE) by Her Majesty The Queen, British Deputy High Commission.
  • Jayaraman is a board member of the U.K.-India Business Council, which supports U.K. businesses set up in India.
  • He has also been instrumental in promoting bilateral ties by setting up a strategic ecosystem for boosting manufacturing in India enabled by U.K.’s technology.

Defence

India-Bangladesh conducted 3rd Bilateral Naval Exercise Bongosagar

  • The third edition of Indian Navy (IN) – Bangladesh Navy (BN) Bilateral Exercise ‘Bongosagar’ commenced at Port Mongla, Bangladesh on 24 May 2022.
  • The Harbour Phase of the exercise begins from 24-25 May which will be followed by a Sea Phase in the Northern Bay of Bengal from 26-27 May.
  • Exercise Bongosagar is aimed at developing a high degree of interoperability and joint operational skills through the conduct of a wide spectrum of maritime exercises and operations between the two navies.
  • Indian Naval Ships Kora, an indigenously built Guided Missile Corvette, and Sumedha,an indigenously built Offshore Patrol Vessel are participating in the Exercise. Bangladesh Navy is being represented by BNS Abu Ubaidah and Ali Haider, both Guided Missile Frigates.

Note: Some Important Exercise:

  • KAZIND: India and Kazakhstan
  • Dharma Guardian: India and Japan
  • Shinyu Maitri: India and Japan
  • Dustlik: India-Uzbekistan
  • Lamitye: India-Seychelles

Science

PARAM PORUL Supercomputer inaugurated at NIT Tiruchirappalli

  • PARAM PORUL, a state-of-the-art Supercomputer was inaugurated at NIT Tiruchirappalli on the 25thof May 2022 in a joint initiative by the Department of Science and Technology (DST) and the Ministry of Electronics and Information Technology (MeitY).
  • This newly inaugurated supercomputing facility has been established under Phase 2 of the National Supercomputing Mission (NSM).
  • This includes the software stack that has been developed indigenously by the Centre for Development in Advanced Computing (C-DAC), keeping in line with the government’s Make in India initiative.
  • This system is based on Direct Contact Liquid Cooling technology so that it can obtain high-power usage effectiveness. This helps in reducing the operational cost.
  • National Supercomputing Mission was launched in the year 2015 at an estimated cost of Rs. 4500 crores over seven years.

Sports

Turkey topped medal tally of 2022 IBA Women’s World Boxing Championships

  • The 12th edition of 2022 International Boxing Association (IBA) Women’s World Boxing Championship was held at Başakşehir Youth and Sports Facility, Istanbul, Turkey from May 8 to May 20, 2022.
  • Turkey topped the medal tally with five gold and two bronze medals, was honoured as the best team of the Championships.
  • India for the first time in the past four years, had won a total medal tally of 3, which includes one Gold and two Bronze.
    Indian Boxer Nikhat Zareen, who hails from Nizamabad city of Andhra Pradesh (now Telangana), won the gold in flyweight (52kg) division with 5-0 points against Thailand’s Jitpong Jutamas.

About Turkey:

  • Capital: Ankara
  • Currency: Turkish lira
  • President: Recep Tayyip Erdoğan

Book and Author

A book titled ‘Listen to Your Heart: The London Adventure’; authored by Ruskin Bond

A book titled ‘Listen to Your Heart: The London Adventure’; authored by Ruskin Bond

  • A new book titled “Listen to Your Heart: The London Adventure” authored by Ruskin Bond, was published by Penguin Random House India (PRHI) on Ruskin Bond’s 88th birthday (19th May 2022).
  • His first novel, The Room on the Roof gained immense popularity when it was released. The novel was also awarded the John Llewellyn Rhys Prize in 1957.
  • For his contribution to literature, Bond received the Sahitya Akademi Award for Our Trees Still Grow in Dehra in the year In 1999 and 2014, he was conferred with the Padma Shri and Padma Bhushan, respectively.

Important day

25 May: International Missing Children’s Day

  • International Missing Children’s Day is an international day celebrated on May 25, the same day as the United States’ National Missing Children’s Day designated by Ronald Reagan in 1983.
  • The day aims to place a spotlight on the issue of child abduction, educate parents on safeguarding measures to protect their children and also honour those who have never been found and celebrate those who have.
  • This awareness event is run in conjunction with the Global Missing Children’s Network. The network, which was formed in 1998, has 23 member countries.
  • Missing Children’s Day began as an observance in the USA in 1983. The date was chosen following the disappearance of 6-year-old Etan Patz on 25th May 1979 from New York City. International Missing Children’s Day which observes on the same date was launched a number of years later in 2001 and is now observed all over the world.

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