Current Affairs Quiz 4th August 2022 : Daily GK Update

Exp. Hardeep Singh Puri inaugurated 4th ONGC Para Games in New Delhi

Petroleum and Natural Gas Minister Hardeep Singh Puri has inaugurated the fourth edition of the ONGC Para Games in Thyagaraj Sports Complex in New Delhi.

Nearly 275 Persons with Disabilities (PwD) from across the country are participating in these Games.

These all are employees of 8 central oil & gas public enterprises.

The first edition of the ONGC Para Games was held in 2017.

About Oil and Natural Gas Corporation (ONGC)

• Founded – 1956
• Headquarters – New Delhi
• Chairman – Alka Mittal
• Owner – Government of India (60.40%)

Life Insurance Corporation of India (9.69%)

Gas Authority of India Limited (5.45%)

Indian Oil Corporation (5.45%)

Exp. IOC signed an MoU with National Tiger Conservation Authority (NTCA) for Cheetah relocation from Africa to India

The National Tiger Conservation Authority (NTCA) has signed an MoU with Indian Oil Corporation for the trans-continental relocation of cheetahs from Africa to India.

According to the MoU, The IOC will contribute Rs 50.22 crore over four years for the project. The total cost of the project is currently Rs 75 crore.

Under this project, a source population of 8-10 Cheetahs will be flown in from Namibia and South Africa and will be introduced at Kuno National Park, Madhya Pradesh.

It is a national project involving NTCA and the government of Madhya Pradesh.

The MoU is in continuation with the one signed on July between the Indian and Namibian governments on wildlife conservation and sustainable biodiversity utilization for establishing the cheetah into the historical range in India.

The funds provided by Indian Oil as a part of its corporate social responsibility (CSR) will be used for cheetah reintroduction as well as its habitat management and protection, ecology development, staff training and veterinary healthcare.

The MoU was signed between IOC chairman SM Vaidya and NTCA member secretary and additional director general (Project Tiger) Dr S P Yadav, in the presence of Union Environment Minister Bhupender Yadav and Petroleum and Natural Gas Minister Hardeep Singh Puri

Recent MoUs

• India signed an MoU with UK for Mutual Recognition of Educational Qualification
• NHPC signed an MoU with DVC for setting up hydropower projects and pump storage projects
• India and Maldives signed an MoU for judicial cooperation to accelerate court digitization.
• India signed an MoU with Namibia for wildlife conservation
• JSW Steel partnered with BCG to accelerate decarbonization journey

Exp. IOCL signed an MoU with Bangladesh for emergency supply of petroleum goods

The Indian Oil Corporation Limited (IOCL) has signed an MoU with the Bangladesh Roads and Highways department in Dhaka for the emergency supply of petroleum goods via Bangladesh territory to India.

This is an interim setup to facilitate urgent supply of petroleum products due to damage caused by the flood in Assam this year.

The petroleum tankers will enter from Meghalaya and will go to Tripura crossing through the Bangladesh territory. The IOCL will bear all the administrative fees, charges and local taxes including road usage fees for use of the Bangladeshi territory.

The MoU has been signed in a spirit of good neighbourly relations to allow Indian vehicles for transportation of the fuel from Assam to Tripura by Road which has been severely disrupted due to the recent floods in Assam and Tripura.

About Indian Oil Corporation Limited (IOCL)

• Founded – 30 June 1959
• Headquarters – New Delhi
• Chairman – Shrikant Madhav Vaidya
• Owner – Government of India (52.1%)

Exp. NIESBUD partnered with Hindustan Unilever Limited to develop entrepreneurial skills

National Institute for Entrepreneurship and Small Business Development (NIESBUD) and Hindustan Unilever Limited (HUL) have signed an MoU. It has been signed for developing entrepreneurial skills among the youth and identifying other aspects for mutual collaboration.

The alliance will further enhance employment generation and create sustainable livelihood opportunities, giving a major boost to nano and micro-entrepreneurship advancement in the country.

Under the partnership, both the entities will collaborate to organize training programmes, develop course curriculum, undertake cluster development activities, organize workshops and extend incubation support, provide industry linkages, assist trainees in linking up with suitable wage employment, etc.

As per the company, HUL has made the social commitment to upskill and reskill over 15 lakh youth in India by 2030 to increase their chances of employability.

HUL is also contributing Rs 63 lakh to NIESBUD to support the Skill Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) Project, which aims at strengthening the entrepreneurship ecosystem, and bringing in better market connectivity and inclusion of marginalized sections of the society.

Recent MoUs

• NASSCOM partnered with Google for DigiVaani Call Center
• RBI and Bank Indonesia signed an MoU to improve mutual cooperation
• RIL partnered with Athletics Federation of India to support Indian Athlete
• Vedanta partners with IIT Madras incubated startup
• SBICAP Ventures Ltd (SVL) signed an MoU with MEA for Trilateral Development Cooperation Fund
• HAL signed an agreement with Safran to build helicopter engines

Exp. Amazon signed an agreement with Indian Railways to boost delivery of packages

Amazon India has signed an agreement with Indian Railways to boost its delivery services in the country.

Through this partnership, Amazon will be able to transport packages on more than 110 inter-city routes, ensuring one to two-day delivery for its customer.

It became the first online delivery company to work with the Indian Railways to build an express transportation product via rail in 2019.

Amazon is one of the enablers for the company to offer 1-day and 2-day delivery promises to customers in the hinterlands of the country. It is now working with Railways in more than 110 inter-city routes.

Amazon India ferries customer packages to cities and towns such as Jharsuguda, Ratnagiri, Kurnool, Nanded, Bareilly, Bokaro, and Rudrapur among others.

Amazon will pay a monthly rent of about Rs 3.57 crore, with periodic rental escalation, for a lease tenure of 21 years and six months. The lease agreement includes a rent-free period of 24 months, with a lock-in period of 15 years from the lease commencement date.

Exp. IISc Bengaluru signed an MoU with Indian Navy for collaborative aviation research

The Indian Institute of Science (IISc) Bengaluru has signed an MoU with the Indian Navy to collaborate on aviation research and development and to ramp up self-reliance efforts for the Navy.

The areas of collaboration under the MoU will fall under the domain of aerospace/ aeronautical engineering, including design and education technology.

This agreement will also promote joint research programmes in areas of mutual interest.

Specializations that will be under focus include Propulsion and Propulsion Systems, Steel Technology, Metallurgy and Material Sciences, and Corrosion Science; Systems and Controls, Instrumentation and Sensors; Environmental Science and Engineering, Energy Science and Engineering; Management (Technical and Logistics), Industrial Engineering and Operational Research, Nanotechnology and MEMS (Micro Electro Mechanical Systems), Artificial Intelligence, Data Analytics, and Machine Learning.

Recent MoUs

• Andaman Nicobar Command signed an MoU with AAI to boost inter-island connectivity under Udaan Scheme in Port Blair.
• ReNew signed an MoU with Egypt government to set up green hydrogen plant in Egypt
• Indian and Malaysian bodies signed an MoU to promote palm oil
• Rajasthan signed an MoU with Telangana to set up women’s bank
• Coca-Cola signed on Neeraj Chopra for Limca Sportz promotion

Exp. Blockchain network 5ire signed an MoU with Goa Police to implement a smart policing solution

Goa Police has signed an MoU with blockchain network 5ire to take its processes digital.

With this MoU, Goa will become the first police state in India to go completely paperless.

The MoU will create a public-private partnership between 5ire and Goa Police for implementing a smart policing solution to improve transparency and efficiency in policing. It will help streamline procedures that reflect all events in greater detail for all stakeholders. The MoU will also help in the digitization and digitalization of offline systems.

5ire had last month raised USD 100 million at a USD 1.5 billion valuation in Series A funding from the UK-based conglomerate SRAM & MRAM Group, becoming India’s 105th unicorn and 20th this calendar year.

About Goa

• Capital – Panaji
• Chief Minister – Pramod Sawant
• Governor –S. Sreedharan Pillai

About 5ire

• Founded – 2021
• Founder – Pratik Gauri

Exp. Airbus signed an agreement with GMR Group for aircraft maintenance engineering

European plane manufacturer Airbus has signed an agreement with the GMR Group to provide aircraft maintenance training to young engineers.

The GMR Group will provide the fully integrated aircraft maintenance engineer (AME) licensing programme at the GMR School of Aviation in Hyderabad.

The four-year course will include two years of classroom training and a two-year training in maintenance, repair and overhaul (MRO) at GMR Aero Technic in Hyderabad followed by aircraft type training.

Airbus also provides the necessary software and courseware in the form of trainee handbooks, examination database, and online access of “Airbus customized basic training modules and Airbus Competence Training (ACT) for Academy media package”, which is the technical training material required for the courses.

Exp. India achieved milestones with over 75,000 start-ups recognized so far

Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups which is a milestone coinciding with 75th year of independence.

Prime Minister Modi had envisioned “a new India that taps on the entrepreneurial potential of its people” as he mentioned in the Independence Day speech from the Red Fort on 15 August 2015.

Out of the total recognized startups, around 12% cater to IT services, 9% to Healthcare and Life Sciences, 7% to education, 5% to professional and commercial services and 5% to agriculture.

An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110% yearly increase over the last 6 years.

About 49% of startups are from Tier II & Tier III which is a validation of the tremendous potential of our country’s youth.

In the past 6 years, the action plan has successfully guided into making India the 3rd largest ecosystem.

While the initial ten thousand startups were recognized in 808 days, the latest ten thousand were achieved in only 156 days. With more than 80 Startups getting recognized per day- India holds the highest rate in the world.

Exp. CCI approved the acquisition of stake in IDFC by Bandhan Fin Holdings

The Competition Commission of India (CCI) has approved the proposed Rs 4,500 crore deal wherein the Bandhan Financial Holdings-led consortium will buy stakes in IDFC Asset Management and IDFC AMC Trustee.

The consortium includes private equity firm Chrys Capital and Singapore’s sovereign fund GIC.

The transaction includes acquisition of 99.96 percent stake in IDFC Asset Management Company Ltd and 100 percent shareholding in IDFC AMC Trustee Company Limited.

IDFC AMC is the asset management company of IDFC Mutual Fund which operates a portfolio management business and IDFC Trustee is a trustee company of IDMF.

Bandhan Financial Holdings Limited is a wholly-owned subsidiary of Bandhan Financial Services Ltd and the promoter of private sector lender Bandhan Bank Limited.

Lathe is wholly owned by Singapore-based GIC Ventures Private Limited and Tangerine Investments is a subsidiary of Chrys Capital Group while Infinity Partners is a partnership firm.

About Competition Commission of India (CCI)

• Founded – 2003
• Headquarters – New Delhi
• Chairman – Ashok Kumar Gupta

Exp. Trade deficit at record USD 31 billion in July month

India’s merchandise trade deficit jumped to a new record high of USD 31.02 billion in July.

The previous record high was set in June when the trade deficit was USD 26.18 billion.

The deficit in July 2021 was nearly one-third of last month’s figure at USD 10.63 billion.

As per the commerce ministry, merchandise imports stood at USD 66.26 billion in July compared to USD 46.15 billion in the same month last year.

Despite the poor export performance in July that merchandise exports would “comfortably” cross the USD 500-billion mark in FY23.

India’s merchandise exports in FY22 totaled USD 429.2 billion. So far in FY23, exports have amounted to USD 156.41 billion.

Restrictions on exports of wheat, iron, and steel, and petroleum products have reined in the export growth, adding that USD 1 billion-2 billion worth of wheat has been retained domestically.

Exp.  SVC Bank signed an agreement with SIDBI for empowering MSMEs

Principal financial institution for MSMEs SIDBI has signed an agreement with SVC Co-operative Bank to extend refinance facility to facilitate improved credit flow to MSMEs.

The agreement was signed by Ashish Singhal MD of SVC Bank and Sanjeev Gupta GM of SIDBI in Mumbai.

SVC Bank is the first urban co-operative bank to enter into a refinancing partnership with SIDBI.

As the nodal agency for the MSME-related schemes of the government, SIDBI provides refinance to primary lending institutions such as banks including small finance banks, non-banking finance companies, and microfinance institutions which in turn provide credit to MSMEs.

SIDBI is also engaged in direct financing of small businesses through long-term loans, working-capital facilities, etc.

Recent MoUs

• RBI and Bank Indonesia signed an MoU to improve mutual cooperation
• RIL partnered with Athletics Federation of India to support Indian Athlete
• Vedanta partners with IIT Madras incubated startup
• SBICAP Ventures Ltd (SVL) signed an MoU with MEA for Trilateral Development Cooperation Fund
• HAL signed an agreement with Safran to build helicopter engines
• Health Ministry and Panchayati Raj Ministry signed an MoU to eliminate TB

Exp. Suresh N Patel appointed as new Central Vigilance Commissioner

The government has appointed Former Andhra Bank CEO and incumbent vigilance commissioner Suresh N Patel as the new chief of the Central Vigilance Commission.

Former Intelligence Bureau Director Arvind Kumar has appointed as a vigilance commissioner along with ex-IAS officer Praveen Kumar Srivastava.

Vigilance Commissioner Suresh N Patel has been appointed as the Central Vigilance Commissioner, a year after the post fell vacant.

Patel was sworn in as the chief of the anti-corruption watchdog by President Droupadi Murmu at Rashtrapati Bhavan.

Recent Appointments

• CEO of Paytm Payment Service – Nakul Jain
• Additional Director of LIC HFL Board – Ravi Kishan Takkar
• MD & CEO of NSE – Ashishkumar Chauhan
• New CEO of Vodafone Idea – Akshaya Moondra
• Interim CEO of NLMC – Sanjay Kumar Jain

Exp. Ravinder Takkar apppointed as Chairman of Vodafone Idea

The Board of Directors of Vodafone Idea Limited has appointed Ravindra Takkar as Chairman Vodafone Idea Limited effective from August 19.

Ravinder Takkar currently MD and CEO of VIL, will bring in his vast experience of over three decades in guiding the company, in his role as Chairman.

Ravinder Takkar replaced Himanshu Kapania.

Recent Appointments

• Additional charge of DG of ITBP – Sujoy Lal Thaosen
• Delhi police commissioner – Sanjay Arora
• Principal DG of PIB – Satyendra Prakash
• India’s High Commissioner to Bangladesh – Pranay Verma
• India’s High Commissioner to UK – Vikram Doraiswami
• Chief Economist of World Bank – Indermit Gill