Current Affairs 27th July 2022 Daily GK Update

Current Affairs 27th July 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.

National News

India grants USD 2.5 million to UNRWA for Palestine refugees

  • India has contributed USD 2.5 million to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA).
  • India is a dedicated donor to UNRWA and donated USD 20 million in support of core UNRWA services to Palestine refugees across the Middle East since 2018.
  • The UNRWA, which was established as a humanitarian agency in 1949, is fully funded through voluntary contributions and grants from donor countries.
  • The agency was mandated to provide assistance and protection for about 5.6 million Palestinian refugees registered in the West Bank, Gaza Strip, and refugee camps in Lebanon, Syria, and Jordan.

ADB approved USD 96 million loan to Himachal Pradesh for safe drinking water project

  • The Asian Development Bank has approved USD 96.3 million loan for safe drinking water and sanitation project in Himachal Pradesh.
  • The loan has been provided under the Himachal Pradesh Rural Drinking Water Improvement and Livelihood Project.
  • The ADB project will connect 75,800 households to the service, providing an uninterrupted water supply to about 370,000 residents across 10 districts.
  • The project meets the objectives of the Jal Jeevan Mission, a national flagship program of the Government of India, which aims to provide piped water to all rural households by 2024.
  • This also upgrade water supply infrastructure and strengthen institutional capacity to ensure safe, sustainable, and inclusive rural water supply and sanitation services.

About ASIAN Development Bank (ADB)

  • Founded – 19 December 1966
  • Headquarters – Mandaluyong, Metro Manila, Philippines
  • President – Masatsugu Asakawa
  • Vice President – Ashok Lavasa
  • Director of ADB for India – Takeo Konishi
  • Executive Director – Sameer Kumar Khare
  • Member Counrtries – 68 (Nuie)

Recent loan approved by ADB

  • ADB approves $112 million loan to establish Assam Skill University.
  • ADB approves $150 million loan for urban poor housing project in Tamil Nadu.
  • Axis Bank signed Partial Guarantee Facility Agreement worth USD 150 million with ADB to support supply chain financing.

Parshottam Rupala launched subsidiary of NDDB for manure management

  • Parshottam Rupala (Union Minister of Fisheries, Animal Husbandry and Dairying) has launched NDDB MRIDA Limited, a wholly-owned subsidiary company of National Dairy Development Boar (NDDB).
  • Objective – To provide structured impetus to manure management efforts.
  • NDDB has established NDDB MRIDA Limited (Unlisted Public Limited Company) under the Companies Act, 2013 on July 1, 2022.
  • This will help in savings to the farmers by virtue of the replacement of cooking fuel with biogas.

Foundation stone laid for the 8th Hi-Tech Park in Natore

  • State Minister for Information and Communication Technology Junaid Ahmed Palak has laid the foundation stone of ‘Natore IT/Hi-Tech Park’ in Singra Upazila of Natore.
  • This is the 8th park out of 12 IT/Hi-Tech parks under the Indian Line of Credit (LOC) extended to Bangladesh.
  • The IT/Hi-Tech parks are being built in 12 districts of Bangladesh with financial assistance worth USD 193 million under Line of Credit offered by India.
  • With the completion of the Hi-Tech Park 1000 youth will get trained directly and 3000 youth will get employment opportunities.

Haryana CM launched ‘Smart E-Beat’ system for Gurugram police

  • Haryana Chief Minister Manohar Lal Khattar has launched an app-based system for police attendance and real-time monitoring of patrolling by personnel in Gurugram.
  • The CM launched the ‘Smart E-Beat’ system at an event at the office of Commissioner of Police and flagged off 119 motorcycle police riders connected with it.
  • The app-based system has been introduced in Gurugram under the Smart Policing Initiative (SPI) and it will help these policemen to mark their attendance and in the monitoring of their rides.
  • The Smart E-Beat system would cover the area of all the 33 police stations located in the urban area of Gurugram. As many as 119 motorcycle riders will be deployed, 714 policemen will give duty on the rider in three shifts a day,
  • Gurugram Police has identified 2,056 sensitive locations in the city, which mainly include ATMs, petrol pumps, residences of senior citizens, schools, colleges, religious places, and crime-affected areas for monitoring.

Banking and Financial

HDFC Mutual Fund launched Nifty Next 50 ETF and Nifty 100 ETF

  • HDFC Mutual Fund has announced the launch of HDFC Nifty Next 50 ETF and HDFC NIFTY 100 ETF, in a bid to expand its suite of HDFC MF index solutions.
  • These funds offer exposure to the Indian large-cap space.
  • The new fund offer will open for subscription on July 25 and close on August 1, 2022.
  • It offers high potential for growth as it may comprise the next league of Nifty 50 constituents.
  • The benchmark of HDFC Nifty 100 ETF – Nifty 100 TRI offers exposure to the Indian large-cap space by focusing on top 100 companies based on full market capitalization, thus giving better market representation.

RBI allowed IDBI Bank bidders to own more than 40%

  • RBI have accepted the Centre’s request for allowing non-financial institutions and non-regulated entities to own more than 40 per cent of IDBI Bank.
  • The government and LIC are going to sell 51-74% of the lender through a strategic divestment.
  • Non-financial institutions and non-regulated entities, such as private equity firms, currently, can own only 10 per cent and 15 per cent, respectively, in banks, while regulated entities and public sector undertakings (PSU) are allowed to hold up to 40 per cent. The RBI allows the holding of a higher stake, over 40 per cent, on a case-to-case basis.
  • The IDBI Bank was categorized as a ‘Private Sector Bank’ for regulatory purposes by the Reserve Bank of India with effect from 21 January 2019.
  • The move to sell up to 74 per cent stake in IDBI Bank shall facilitate the entry of foreign investors, in line with the Centre’s foreign direct investment (FDI) limit of 74 per cent in private banks. Even as the government holds over 45 per cent stake in IDBI Bank, the lender is classified as a private bank since its promoter is LIC.
  • The government will soon float an expression of interest (EoI) for sale of its stake in IDBI Bank. The EoI will specify that bidders can acquire over 51 per cent in the bank if they meet the eligibility criteria.

About Industrial Development Bank of India (IDBI) Bank

  • Founded – 1964
  • Headquarters – Mumbai, Maharashtra
  • MD & CEO – Rakesh Sharma

Global GDP growth to slow to 2.7% in 2022- S&P Global Market Intelligence

  • Global GDP growth is projected to slow to 2.7 percent in 2022 and 6 percent in 2023, according to global financial services provider S&P Global Market Intelligence.
  • This follows after a 3.3 percent GDP contraction in 2020 and a 5.8 percent rebound in 2021.
  • The 2022 forecast is due to the US economy’s weaker first-half performance.
  • In line with the evidence of declining prices of finished goods and becoming more pervasive in the final quarter of 2022, global inflation is projected to ease from 7.3 per cent in 2022 to 4.2 per cent in 2023 and 2.7 per cent in 2024.
  • Resilient growth in the Asia Pacific region is key to the outlook of sustained global economic growth in 2022 and 2023. This region will likely account for 53 per cent of global real GDP growth in 2022 and an exceptional 62 per cent in 2023.
  • India, Indonesia, Vietnam, and the Philippines will likely achieve growth rates of 5-7 per cent.

Updated Monetary Policy Rates

  • Repo Rate – 4.90%
  • Reverse Repo Rate – 3.35%
  • MSF – 5.15%
  • Bank Rate – 5.15%
  • CRR – 4.50%
  • SLR – 18.00%
  • SDF – 4.65%
  • GDP Forecast for FY23 – 7.2%.
  • Inflation Rate for FY 23 – 6.7%.

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% (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

Indermit Gill appointed as new Chief Economist of World Bank

  • World Bank has appointed Indian national Indermit Gill as its Chief Economist and Senior Vice President for Development Economics.
  • Gill will succeed American economist Carmen Reinhart in the role and his appointment will be effective 1 September 2022.
  • Gill will be the second Indian, after Kaushik Basu, to become the chief economist of the international financial institution that grants loan to middle and lower-income countries.
  • He is currently the Vice President for Equitable Growth, Finance and Institutions at the World Bank, where he led work on macroeconomics, debt, trade, poverty, and governance.

Recent Appointment

  • New CEO of Vodafone Idea – Akshaya Moondra
  • Interim CEO of NLMC – Sanjay Kumar Jain
  • Additional Independent Director of YES Bank – Rama Subramaniam Gandhi
  • IAPH appointed as its representative in India – Ennarasu Karunesan
  • Acting president of FIH – Egypt’s Seif Ahmed

 Ravi Kishan Takkar appointed as Additional Director of LIC HFL Board

  • The Board of Directors of LIC Housing Finance Ltd (LIC HFL) has approved the appointment of Ravi Kishan Takkar as an Additional Director (Independent) for a period of five years.
  • He served as an MD & CEO of UCO Bank for three years till November 01, 2018.

About LIC HFL

  • Founded- 19 June 1989
  • Headquarters– Mumbai, Maharashtra
  • MD & CEO- Viswanatha Gowd
  • LIC HFL is a subsidiary company of LIC

Ashishkumar Chauhan appointed as new MD & CEO of NSE

  • Ashishkumar Chauhan has assumed charge as Managing Director and Chief Executive Officer of the National Stock Exchange (NSE).
  • Chauhan earlier resigned as Managing Director and CEO of BSE and was relieved of his roles and responsibilities at the exchange.
  • Chauhan replaced Vikram Limaye, whose five-year tenure ended on July 15. Limaye did not seek another tenure at the NSE despite being eligible.

Recently appointed MD & CEO

  • MD & CEO of Aviva Life Insurance – Asit Rath
  • MD & CEO of SBI General Insurance – Paritosh Tripathi
  • MD & CEO of Manappuram Finance – V P Nandkumar
  • MD & CEO of CSB Bank – Pralay Monda
  • MD & CEO of Aditya Birla Capital – Vishakha Mulye
  • MD & CEO of Digit Insurance – Jasleen Kohli
  • MD & CEO of LIC Mutual Fund – TS Ramakrishnan
  • MD & CEO of National Stock Exchange – Ashish Kumar Chauhan

Sport

India to host ICC Women’s World Cup 2025

  • International Cricket Council (ICC) has confirmed that India will host the ICC Women’s ODI World Cup 2025.
  • This will be the first time in over a decade that India will be hosting the tournament.
  • India had last hosted the women’s World Cup in 2013.
  • Bangladesh will host the 2024 Women’s T20 World Cup, while the 2026 edition will be held in England.
  • Sri Lanka has secured hosting rights for the Women’s T20 Champions Trophy, slated for 2027, provided it qualifies for the event.

About International Cricket Council (ICC)

  • Formation – 15 June 1909
  • Headquarters – Dubai, UAE
  • Chairman – Greg Barclay (New Zealand)
  • Deputy Chairman – Imran Khwaja (Singapore)
  • CEO – Geoff Allardice (Australia)
  • General Manager – Wasim Khan
  • Membership – 106 members

Book and Author

Union Minister Anurag Thakur released books showcasing rare pictures of President Kovind his predecessors

  • Union Information and Broadcasting Minister Anurag Thakur has released three books showcasing some of the rarest photographs of outgoing President Ram Nath Kovind and his predecessors.
  • The books were released during a function at the Rashtrapati Bhavan here and their first copies were presented to President Kovind in the presence of president-elect Droupadi Murmu, Vice President M Venkaiah Naidu and Prime Minister Narendra Modi.
  • First Book – ‘Moods, Moments and Memories…’ has a collection of rarely seen images of the former presidents of India from 1950-2017.
  • Second Book – ‘The First Citizen’ has pictorial records of President Kovind’s term.
  • Third Book – ‘Interpreting Geometries – Flooring of Rashtrapati Bhavan’ documents and analyses the intricate play of geometry applied to evolve the unique flooring patterns in the Rashtrapati Bhavan.

Dilip Kumar: In the Shadow of a Legend’ book released authored by Faisal Farooqui

  • A book titled ‘Dilip Kumar: In the Shadow of a Legend’ has been released. The book has been authored by Faisal Farooqui.
  • It is based on the life of Actor Dilip Kumar, also known as Yusuf Khan.
  • The author paints an intimate portrait of the actor, throwing light on some little-known anecdotes from his illustrious life.
  • Farooqui is the founder and CEO of Mouthshut.com, one of India’s leading review and rating platforms.

Recent Books

  • Beyond The Misty Veil, Temple Tales of Uttarakhand’ book released – Aradhana Johri
  • 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

Important day

26 July – Kargil Vijay Diwas

  • Kargil Vijay Diwas is observed every year on July 26 to commemorate India’s victory over Pakistan in the Kargil War in 1999.
  • During this war, the Indian Army evicted Pakistani intruders and recaptured Tiger Hill and other posts as a part of ‘Operation Vijay.’
  • Every year, on July 26, the Prime Minister pays his respects to the soldiers who were martyred in the war.

Obituary

Oscar-nominated director Bob Rafelson passed away

  • Bob Rafelson, co-creator of ‘The Monkees’ and Director of the film ‘Five Easy Pieces’ has passed away.
  • Five Easy Pieces earned Rafelson two Oscar nominations, for best picture and screenplay in 1971.
  • Rafelson co-created the Monkees and the TV series of the same name, winning him an Emmy Award for Outstanding Comedy Series alongside Bert Schneider in 1967.

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