Current Affairs Quiz 12th October 2022 : Daily GK Update

Exp. Mumbai airport completely switches to renewable energy

Adani group-AAI operated Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) has switched to green energy sources, fulfilling 95 percent of its requirement from hydro and wind and the rest 5 percent from solar power.

The facility witnessed a rise in natural energy procurement with 57 per cent green consumption in April to a whopping 98 per cent between May to July, and finally attained 100 per cent utilisation of renewable sources of energy in August

Mumbai Airport was the first in India to launch hybrid technology which has been solely running on green energy since April.

CSMIA has prepared a roadmap to achieve “Net Zero Carbon Emission” by 2029.

Exp. Home Minister Amit Shah inaugurated SP conference at Dergaon in Assam

Union Home Minister Amit Shah has inaugurated the third conference of superintendents of Assam Police at Dergaon in Golaghat district, Assam.

He also inaugurated the newly-built convention centre at the Police Training College.

At the two-day conference discussion on present law and order situation of the state, people’s friendly measures among other issues were discussed.

About Assam

• Capital –Dispur

Chief Minister –Himanta Biswa Sarma

Governor – Prof Jagdish Mukhi

Exp. Himachal Pradesh starts new scheme HIMCAD to help farmers

To provide irrigation facilities to farmers of Himachal Pradesh, the state government has started a new scheme named ‘HIMCAD’.

According to latest data, about 80% of the agricultural area of Himachal Pradesh is rain-fed.

The scheme will provide end-to-end connectivity of farmers’ fields for better water conservation, crop diversification and integrated farming.

Under the scheme, it is planned to provide command area development activities to 23,344 hectares of cultivable command area by March 2024, and the State Technical Advisory Committee has approved 379 minor irrigation schemes worth Rs 305.70 crore.

About Himachal Pradesh

• Capital –Shimla (Summer), Dharamshala (Winter)
• Chief Minister– Jai Ram Thakur
• Governor –Rajendra Vishwanath Arlekar

Recent Scheme launched by Himachal Pradesh government

• Satya Nishtha’ app
• Panchvati Yojana
• Mukhya Mantri Shahari Rojgar Guarantee Yojana
• Nigah Programme
• e-sanjeevani-opd

Exp. Odisha CM launched ‘Football for All’ programme

Odisha Chief Minister Naveen Patnaik has launched ‘Football for All’ in the state to take the culture of football to the grassroots.

The Programme has been initiated by FIFA in Odisha in partnership with the Kalinga Institute of Industrial Technology (KIIT) & Kalinga Institute of Social Sciences (KISS).

Over 43 thousand footballs will be distributed to children in about 2000 schools. This is the first such programme of FIFA in India that aims at promoting football among school children

This is the first such programme of FIFA in India that aims at promoting football among school children.

About Odisha

• Capital –Bhubaneswar
• Chief Minister– Naveen Patnaik

Governor – Ganeshi Lal

Exp. Jyotiraditya Scindia inaugurated 4th Heli-India Summit 2022

Minister of civil aviation Jyotiraditya M. Scindia has inaugurated the fourth Heli-India Summit 2022 in Srinagar.

The theme of the summit – Helicopters for last Mile Connectivity

During the summit, Scindia announced that a civil enclave will be built in Jammu at a cost of Rs 861 crores.

The 3rd Heli-India Summit was organized in Dehradun, Uttarakhand in 2021.

Exp. Nitin Gadkari launched Toyota pilot project on Flex-Fuel Strong Hybrid EV

Road Transport and Highways Minister Nitin Gadkari has launched Japanese car maker Toyota’s first-of-its-kind pilot project on Flex Fuel-Strong Hybrid Electric Vehicle (FFV-SHEV) that can run on 100 percent ethanol.

During the launch, the Toyota Corolla Altis FFV-SHEV, which has been imported from Toyota Brazil for the pilot project, was unveiled.

Flex-fuel-compatible cars can run on more than one type of fuel and also a mixture. Typically, a blend of petrol and ethanol or methanol is used.

FFVs provide an opportunity of greater substitution of petrol by ethanol as it is capable of using any of the higher blends of ethanol mix from 20 percent up to 100 percent.

Flex-fuel vehicles are available in Brazil, the USA and Canada.

Ethanol is a major alternate fuel used globally and Brazil has the highest average blending of 48 percent.

Exp. PM Modi addressed UN World Geospatial International Congress

PM Narendra Modi has addressed the United Nations World Geospatial International Congress in Hyderabad.

The theme of this event – Geo-enabling the Global Village: No one should be left behind

The United Nations Global Geospatial Information Management (UN-GGIM) convened the conference on UNWGIC 2022 and was organized by the United Nations Department of Economic and Social Affairs.

It was hosted by the ministry of science and technology of the government of India in Hyderabad.

Exp. Tom Cruise became first actor to film in outer space

Actor Tom Cruise will soon become the first actor to shoot in space.

He has partnered with director Doug Liman on a project that calls for him to perform a spacewalk.

The project was initially slated for 2020, but the Covid-19 outbreak put the project on hold.

According to reports, Liman and Cruise have approached UFEG (Universal Filmed Entertainment Group) with a plan to see the actor board a rocket and travel to the International Space Station.

The Hollywood actor and director have reportedly approached the Universal Filmed Entertainment Group (UFEG) with a proposal for Tom to launch himself up to the International Space Station.

On the work front, the actor was recently seen in the much-acclaimed film Top Gun: Maverick. The movie has been garnering rave reviews from fans and viewers. The film also stars Jennifer Connelly and Miles Teller in lead roles. The actor will also be seen in Mission: Impossible – Dead Reckoning – Part One and Two.

Exp. South Indian Bank entered World Book of Records for ‘101 Oonjals’

South Indian Bank has bagged a world record for staging and swinging the highest 101 Oonjals (Jhoolas), beautifully decorated- in Kochi.

The South Indian Bank on Sunday organized an event ‘Onnichirikkam Oonjaladam’ and was accoladed with the World Book of Records award for ‘staging and swinging 101 Oonjals’.

South Indian Bank had for the first time organized a first-of-its-kind category event ‘Staging and Swinging 101 Oonjals’ simultaneously at a single venue in Kochi.

Swings were made using wood and rope in the traditional way.

About South Indian Bank

Founded- 1928

Headquarters- Thrissur

CEO- Murali Ramakrishnan

Exp. RBI canceled the licence of Seva Vikas Co-operative Bank Ltd.

RBI has canceled the licence of Pune-based Seva Vikas Co-operative Bank Limited as the lender does not have adequate capital and earning prospects.

It would be unable to pay its present depositors in full.

Earlier in August 2022, it had canceled the license of Pune-based Rupee Cooperative Bank. RBI action is facing a legal challenge in the Bombay High Court.

As per the data submitted by the bank, about 99% of the depositors are entitled to receive the full amount of their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC).

This payment is made in compliance with the provisions of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.

Banks whose license got cancelled by RBI recently

• Maharashtra-based The Laxmi Co-operative Bank
• Karnataka-based Deccan Urban Co-operative Bank
• Pune-based Rupee Co-operative Bank Ltd
• Karnataka-based Mudhol Co-op Bank, Bagalkot,
• People’s Co-operative Bank Ltd Kanpur, Uttar Pradesh
• Independence Co-operative Bank Ltd., Nashik
• Sarjeraodada Naik Shirala Sahakari Bank, Sangli, Maharashtra
• Maharashtra’s Mantha Urban Cooperative Bank, Jalna District
• Karnala Nagari Sahakari Bank, Panvel in Maharashtra
• Goa-based Madgaum Urban Cooperative Bank
• Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd, Nilanga, Latur
• Sarjeraodada Naik Shirala Sahakari Bank, Sangli, Maharashtra
• Mudhol Co-op Bank, Bagalkot, Karnataka

Exp. IDBI Bank partnered with Vayana Network on supply chain finance

IDBI Bank signed an MoU with Pune-based Vayana Network as its first fintech partner for end-to-end digitalization services.

This partnership aims to contribute in the growth of the supply chain finance penetration in India, which is less than 1% of gross domestic product (GDP).

IDBI Bank has an existing CMS and e-trade platform and with the introduction of end-to-end digitalization, the bank aims to provide complete digital solutions to corporate banking and small business clients.

Recently, the Central government and LIC decided to sell off their 60.72% stake in IDBI Bank.

About Industrial Development Bank of India (IDBI) Bank

Founded – 1964

Headquarters – Mumbai, Maharashtra

Chairman – T N Manoharan

MD & CEO – Rakesh Sharmas

Recent MoUs

• DBS partnered with sandbox to launch ‘DBS Better World’
• HDFC Bank signed an MoU with Institute of Economic Growth to conduct independent research
• HDFC ERGO to build online insurance platform on Google Cloud
• HDFC Bank partnered with Tata Neu to launch two new credit cards
• Universal Sompo partnered with Repco Home Finance to insure loans

Exp. IMF slashed India’s GDP growth at 6.8% from 7.4% in current financial year

The International Monetary Fund (IMF) has slashed India’s economic growth forecast to 6.8% for FY22.

This is a steep cut in comparison to its previous forecast of 7.4% that it had given out in July 2022.

The global economy continues to face challenges including inflation, tightened financial conditions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic.

India will remain one of the fastest growing key economies in the world in 2022 and 2023. China’s growth is estimated to slow to 3.2% in 2022 and by 4.4% in 2023.

The World Bank last week lowered India’s growth forecast to 6.5% for 2022-23, while the Asian Development Bank and the Reserve Bank of India cut the projection to 7%.

Updated GDP List

• World Bank – 6.5% (FY23), 7.1% (FY24)
• MOODY’S. – 7.7% (FY23)
• S&P – 7.3% (FY23), 6.5% (FY24)
• IMF – 6.8% (FY23), 6.1% (FY24)
• ADB – 7% (FY23), 7.2% (FY24)
• RBI – 7% (FY23)
• FITCH RATING – 7% (FY23), 6.7% (FY24)
• FICCI – 7% (FY23), 6.4% (FY24)
• OECD – 6.9% (FY23), 6.2% (FY24)
• CRISIL – 7.3% (FY23)
• NSO – 8.7%.     Q4 – 4.1% (FY23)
• SBI – 6.8% (FY23)
• Morgan Stanley – 7.2% (FY23), 6.4%(FY24)
• Nomura – 7.2% (FY23)
• UNTCAD – 5.7% (FY23)
• Morgan Stanley – 7.2% (FY23), 6.4%(FY24)
• Nomura – 7.2% (FY23)
• UNTCAD – 5.7% (FY23)

About International Monetary Fund (IMF)

Founded – 1945

Headquarters- Washington, D.C.

Managing Director – Kristalina Georgieva (Bulgaria)

First Deputy MD – Gita Gopinath

Chief Economist – Pierre-Olivier Gourinchas (France)

Member countries – 190 (Andorra)

Exp. Roger Binny set to replace Sourav Ganguly as BCCI president

The former India all-rounder Roger Binny is set to become the new BCCI president replacing Sourav Ganguly.

Binny will assume charge on October 18, when the BCCI annual general meeting will be held, in Mumbai.

Jay Shah will continue as BCCI secretary the most influential position in the board. Rajiv Shukla will also stay on as the board’s vice-president.

Binny, 67, has a lot of experience in cricket administration. He has served in different positions at the Karnataka State Cricket Association (KSCA) over the years, and has been its president since 2019. Prior to that, Binny also was part of the KSCA administrations led by Patel and Anil Kumble (2010-12).

About Board of Control for Cricket in India (BCCI)

Founded – 1928

Headquarters – Wankhede Stadium

1st President – R E Grant Govan

39th President – Saurav Ganguly

Vice president – Rajeev Shukla

Secretary – Jay Shah

Men’s coach – Rahul Dravid

Women’s coach – Ramesh Powar

Recent Appointment 

• Chairman of Association of Mutual Funds in India (AMFI) – A Balasubramanian
• Vice President of the International Astronautical Federation (IAF) – Dr. Anil Kumar
• Chairman and MD of Gas Authority of India Limited (GAIL) – Sandeep Kumar Gupta
• Chairman of Advertising Standards Council of India (ASCI)- N S Rajana
• Deputy Election Commissioner – Ajay Bhadoo

Exp. Ananth Narayan Gopalakrishnan takes charge as whole-time member at SEBI

Former banker Ananth Narayan Gopalakrishnan has assumed charge as the fourth whole time member (WTM) in the Securities and Exchange Board of India (SEBI).

Narayan, who has been a member of various advisory committees of Sebi and RBI, has been appointed for an initial period of three years.

He has an experience of more than 25 years in banking and financial sector.

He also served as the Associate Professor, SP Jain Institute of Management & Research, Mumbai.

He has completed his post-graduate diploma in Management from IIM, Lucknow and awarded the Director’s Gold Medal for standing second in the batch.

He did his graduation in technology (electrical engineering), IIT, Bombay.

About Securities and Exchange Board of India (SEBI)

Founded – 12 April 1988

Act – 1992

Headquarters – Mumbai

Chairman – Madhabi Puri Buch

SEBI Set up – Uday Kotak committee

Recent Appointment in Banking Sector

• Chief Economist of World Bank – Indermit Gill
• CEO of Paytm Payment Service – Nakul Jain
• Additional Director of LIC HFL Board – Ravi Kishan Takkar
• MD & CEO of NSE – Ashishkumar Chauhan
• Whole time Member of IBBI – Jayanti Prasad

Exp. India’s space economy to reach $13 billion by 2025

Indian space economy is set to reach $13 billion by 2025, according to a joint report prepared by Ernst and Young & the Indian Space Association (ISpA).

India’s space economy was pegged at $9.6 billion in 2020 and is expected to touch $12.8 billion by 2025, according to the report titled ‘Developing the Space Ecosystem in India: Focusing on Inclusive Growth’.

It noted that currently, India has of over 100 space tech start-ups with investments in the segment touching $68 million in 2021.

Satellite services and application segment would form the largest share of the space economy accounting for 36% of the space economy by 2025.

IspA is the apex industry association of space and satellite companies in the country.

Exp. 11 October – International Day of Girl Child

International Day of the Girl Child is observed every year on October 11.

Objective – To raise awareness about the importance and potential girls hold as the future of our society

Theme 2022 – Our time is now—our rights, our future

On December 2011, the United Nations General Assembly (UNGA) adopted the resolution to declare 11th October as this day.

This day was first celebrated on October 11, 2012.

2022 marks the 10th anniversary of International Day of Girl Child.

Exp. 12 October – World Arthritis Day

World Arthritis Day is observed every year on 12 October.

Objective – To create awareness among people all over the world about the prevalence and effects of the disease.

Theme 2022 – It’s in your hands, take action

Arthritis is a bone-degenerative disease that affects the protective tissue on top of joints.

Arthritis is a condition in which inflammation and pain is experienced in one or more joints. The illness causes joint pain and stiffness, which normally worsens with age and can make life difficult for patients.