Current Affairs Quiz 3rd May 2022 : Daily GK Update Quiz

Exp. Chhattisgarh launched ‘Mukhyamantri Mitaan Yojana’ for doorstep delivery of 100 public services

Chief Minister of Chhattisgarh Bhupesh Baghel launched ‘Mukhyamantri Mitaan Yojana’ (Mitaan stands for friend), which will be implemented on pilot basis in 14 municipal corporations including the cities like Raipur, Durg, Bilaspur and Rajnandgaon in Chhattisgarh.

Under the Scheme the residents of Chhattisgarh can avail around 100 public services at their doorstep.

In the first phase, 13 services in 14 municipal corporation areas have been included under the ‘Mitaan’ scheme as announced by the CM in his budget speech for fiscal year 2022-23.

Under the Scheme, people can contact the ‘Mitaan’ (nominated individual) on the toll-free number (14545) for the service. The required documents of the residents will be collected from their home through the Mitaan, who will then scan the certificates and get the processes rolling for the issuance of certificates or services.

Once the concerned department issues the certificate, it will then be delivered at the citizen’s doorstep by the ‘Mitaan’ in a sealed envelope within the prescribed time limit.

Exp. Indian Army signed MoU to set up coaching centre for underprivileged students in Manipur

Indian Army has signed a Memorandum of Understanding to establish Centre for Excellence and wellness for coaching and making underprivileged students of Manipur eligible for admission to the best colleges and universities in India.

Red Shield Division of the Indian Army under the aegis of Spear Corps has signed a Tripartite MoU with the State Bank of India Foundation (SIBF) and training partner National Integrity and Educational Development Organization (NIEDO).

The project is named Manipur Super 50 and will be fully functional for the first batch of 50 students by the first week of July 2022.

Aim: To provide residential coaching for competitive examinations including the NEET and JEE.

Exp. Rajasthan’s ‘Miyan ka Bada’ Railway Station renamed to ‘Mahesh Nagar Halt’

‘Miyan Ka Bada’ railway station in the Balotra area of Rajasthan’s Barmer district was renamed “Mahesh Nagar Halt.”

Since Independence, the people of Mian Ka Bada in Rajasthan have demanded that the village’s name be changed, claiming that the village’s original name was Mahesh Ro Bado.

In 2018, the Rajasthan government changed the village’s name from Mian Ka Bada to Mahesh Nagar and made the necessary revisions in the revenue records. Proposals to rename the station were sent to the railway ministry when the village’s name was changed.

In 2021, the name of the railway station was changed from Mian Ka Bada to Mahesh Nagar Halt after the proper procedures were followed, but the inauguration was postponed owing to the COVID-19 pandemic. The renamed station was finally inaugurated on April 30, 2022.

Exp. NGSL signed tripartite MoE to develop floating solar PV projects in Kenya

NTPC GE Power Services Private Limited (NGSL), a 50:50 Joint Venture between NTPC Limited and GE Power India Limited, has signed a tripartite Memorandum of Engagement (MoE) with The Lake Region Economic Bloc (LREB), Kenya and Procorp Enertech Private Limited (PEPL) to work towards the development of ground-mounted and floating solar PV projects in the Lake region of Kenya.

The MoE aims to extend support for the adoption of affordable housing, efficient lighting, development of Mini-grid solutions and capacity building of Kenyan power sector professionals.

Previously LREB and NGSL have signed a Memorandum of Understanding (MoU) to explore business opportunities in Kenya and other African countries.

Exp. India-UAE Comprehensive Economic Partnership Agreement entered into force

India-UAE Comprehensive Economic Partnership Agreement (CEPA) officially entered into force that was signed on 18 February 2022.

BVR Subrahmanyam (Secretary, Department of Commerce) has flagged off the first consignment of goods comprising Jewellery products from India to UAE.

The agreement is expected to escalate the total value of bilateral trade in goods and trade in services to over US$100 billion and US$ 15 billion respectively, within five years.

Exp. HDFC Life became signatory to United Nations – Supported Principles for Responsible Investment

HDFC Life Insurance Company Limited (HDFC Life) recently joined the United Nations (UN) -backed Principles for Responsible Investment (PRI), affirming its commitment to long-term value creation and sustainable growth.

HDFC Life is committed to growing holistically and sustainably by investing in the five pillars of its ESG (environmental, social, and governance) strategy: ethical conduct, responsible investing, diversity, equity, and inclusion, holistic living, and sustainable operations.

The PRI’s partnership with HDFC Life will allow it to streamline its responsible investment strategy. Currently, the Company has Assets Under Management worth more than Rs. 2 lakh crores.

Exp. DBS Bank partnered with Headstart and Anthill to support promising startups

DBS Bank India has partnered with Anthill Ventures, an investment and scaling platform for startups, and Headstart Network Foundation, India’s largest ‘Volunteer-driven, Grassroot level, Startup Ecosystem Enabler, to launch DBS Business Class foundED.

This is in line with DBS Bank’s vision to support entrepreneurs and innovators. This forum will be held across Indian cities to celebrate modern-day founders, innovators, and game-changers to foster co-innovation and collaboration in the startup ecosystem.

The 1st DBS Business Class foundED event was held in Hyderabad, Telangana with Actor investor, and entrepreneur Rana Daggubati as keynote speaker.

Exp. Fidypay partnered with Yes Bank to push financial inclusion

FidyPay, a financial technology API platform, has partnered with Yes Bank to offer Yes Bank customers with seamless connected banking experience.

This initiative will let a wide range of businesses, including Small and Medium Enterprises (SMEs), Fintechs, and start-ups, access digital services.

FidyPay will also serve as the solution provider for Unified Payments Interface (UPI) services.

The partnership is a part of the bank’s larger connected banking strategy, which aims to make banking more inclusive and accessible to a varied and increasing customer base.

Exp. IRDAI allowed insurance companies to invest up to 30% of assets in BFSI sector

The Insurance Regulatory and Development Authority of India (IRDAI) in exercise of its powers conferred under Regulation 14(2) of the IRDAI (Investment) Regulations, 2016, has increased the investment limit of all insurance companies to invest in the Banking, Financial services and Insurance (BFSI) companies (as per section K of NIC classification) to 30% of investment assets from 25%.

This rise in limit will increase the exposure of insurance companies in this sector. Notably, this move comes just before Life Insurance Corporation of India’s (LIC) Rs 21,000 crore IPO (Initial Public Offering), the largest from India. It can increase the insurer’s participation in this IPO.

The earlier cap of 25% was too restrictive, particularly to the financial sector, as it accounts for over a third of the India’s total market capitalization. As a result, most insurance companies are underinvested in the financial sector. Now, with 30% limit insurance companies are flexible to invest.

Exp. Sangeeta Singh appointed as chairman of CBDT

Sangeeta Singh, an Indian Revenue Service (IRS) officer from the 1986 batch, has been appointed as Chairman, Central Board of Direct Taxes (CBDT), with effect from May 02, 2022.

The Union Finance Ministry has issued an order stating that Sangeeta Singh will perform the duties and responsibilities of Chairperson, CBDT, in addition to her own duties, for a period of three months or until a regular chairman is chosen, whichever comes earlier.

She was appointed after the incumbent chairman of the direct tax administration body, Jagannath Bidyadhar Mohapatra retired on April 30, 2022.

Singh is currently in charge of Audits and Judicial matters. She is also holding additional charge of Income Tax and Revenue and Tax Payers services.

Exp. India’s 1st indigenous aircraft carrier INS Vikrant will be handed over to Indian navy

India’s First Indigenous Aircraft Carrier (IAC), Indian Navy Ship (INS) Vikrant will be delivered to the Indian Navy by May, 2022 and will be commissioned on 15 August, 2022.

The IAC has been constructed by Cochin Shipyard Limited (CSL). The IAC will use ski-jump technology for launching the aircraft from the carrier. It costs around Rs 23,000 crore.

The IAC is 262 metres long, 62 metres wide and it has a height of 59 metres and it has over 2,300 compartments. The warship will operate MiG-29K fighter jets, Kamov-31 helicopters, and MH-60R multi-role helicopters.

Exp. Cochin Shipyard will build India’s 1st indigenous hydrogen-fuelled electric vessel

The Ministry of Ports, Shipping and Waterways is set to build India’s first indigenous hydrogen-fuelled electric vessels at Cochin Shipyard Limited, Cochin, Kerala.

The hydrogen fuel cell vessel based on Low-Temperature Proton Exchange Membrane Technology (LT-PEM) called Fuel Cell Electric Vessel (FCEV) is expected to cost around Rs 17.50 crore.

75% of the cost will be funded by the Government of India. This is a part of the transformative efforts of the Government of India on the innovative and new technology front on green energy, sustainable cost-effective alternate fuel front.

Exp. NATO Exercises’ Defender Europe 2022 & Swift Response 2022 began in Poland and 8 other countries

North Atlantic Treaty Organisation (NATO) exercise, Defender Europe 2022 (DE22) and Swift Response 2022 (SR22) began on May 01, 2022 aimed at building preparedness and interoperability between Allies and partners of the United States (US) and NATO.

The exercises are scheduled from May 01 to May 27, 2022. Exercise Swift Response is an annual U.S. Army Europe and Africa multinational training exercise that takes place this year in Eastern Europe, the Arctic High North, Baltics, and Balkans.

The exercise began in Poland and will be held in 8 other countries. The 5th Corps of the US Armed Forces is responsible for the command of the exercises.

Exp. 3 May: World Press Freedom Day

Every year World Press Freedom Day is observed on 3rd May to evaluate press freedom around the globe and to pay tribute to the journalists who have lost their lives in the exercise of their profession.

In 1993, 3 May was declared World Press Freedom Day. This declaration came after a recommendation was made in 1991 at the 26th General Conference session of UNESCO.

Theme 2022: ‘Journalism under Digital Siege’

Exp. 3 May: World Asthma Day

World Asthma Day is observed every year on the first Tuesday of May to spread awareness and care about asthma in the world.

This year it falls on 3 May 2022. An annual event is organised by the Global Initiative for Asthma.

Asthma is a long-term disease, which makes your airways narrow and swell and may produce extra mucus. A person suffering from asthma can have difficulty in breathing, which can trigger coughing, wheezing and chest tightness.

Exp. 3 May: World Asthma Day

World Asthma Day is observed every year on the first Tuesday of May to spread awareness and care about asthma in the world.

This year it falls on 3 May 2022. An annual event is organised by the Global Initiative for Asthma.

Asthma is a long-term disease, which makes your airways narrow and swell and may produce extra mucus. A person suffering from asthma can have difficulty in breathing, which can trigger coughing, wheezing and chest tightness.

Theme 2022: ‘Closing Gaps in Asthma Care’