Current Affairs Quiz 8th and 9th January 2022 : Daily GK Update Quiz

Exp. Sikkim celebrated Losoong (Namsoong) Festival

Losoong (Namsoong) is annually celebrated across the Indian State of Sikkim on the 18th day of the 10th month of the Tibetan Lunar Calendar, which also marks the beginning of the harvest season.

The Namsoong festival begins on the 1st day of the new moon phase Kurneet Lovo, as per the Lepcha lunisolar Calendar known as Dungkit Karchu.

The losoong festival is celebrated as Sonam Losoong, by the Sikkimese Bhutia and as Namsoong by the Lepchas. The festival is also celebrated in Nepal and Bhutan.

Exp. Science & Technology minister inaugurated India’s first & unique ‘Open Rock Museum’ in Hyderabad

Union Minister of State (Independent Charge) Science & Technology Dr Jitendra Singh inaugurated India’s first & unique ‘Open Rock Museum’ at the campus of Council of Scientific & Industrial Research – National Geophysical Research Institute (CSIR-NGRI), Hyderabad, Telangana.

The Open Rock Museum displays around 35 different types of rocks from different parts of India with ages ranging from 3.3 Billion years to around 55 Million years of the Earth’s history.

The Rock Museum aims at educating the masses about several lesser known facts about the Rocks

Exp. Gujarat Chief Minister launched Student Start-ups and Innovation Policy (SSIP) 2.0

Gujarat Chief Minister Bhupendra Patel has launched Student Start-ups and Innovation Policy (SSIP) 2.0 for the next five years, during two-day International Conference on Academic Institutions at Gujarat Science City in Ahmedabad.

This policy has a provision of setting up active innovation and incubation centres across all universities in the state. It intends to cover 50 lakh students across One thousand higher education institutes.

Aim: to financially support school students in innovation.

Exp. Jitendra Singh inaugurated 24th Conference on e-Governance 2020-21 in Hyederabad

Union Minister of Science and Technology, Dr Jitendra Singh has inaugurated the 24th National Conference on e-Governance in Hyderabad, Telangana.

The conference has been organised by the Department of Administrative Reforms & Public Grievances (DARPG) and the Ministry of Electronics & Information Technology (MeitY), in association with the State Government of Telangana.

The theme of the two-day Conference is ‘India’s Techade: Digital Governance in a Post Pandemic World’.

Exp. Odisha government signed MoU with GAIL India for clean energy projects

An MoU was inked between the Industrial Promotion and Investment Corporation of Odisha (IPICOL) and GAIL India (Formerly known as Gas Authority of India Ltd) in Bhubaneswar (Odisha) for the production of eco-friendly fuels in Odisha.

Both entities will cooperate in the areas of green hydrogen, green ammonia and renewable energy (solar/wind).

Also, NHPC (erstwhile National Hydroelectric Power Corporation) Limited has signed a promoters agreement with Green Energy Development Corporation of Odisha Ltd (GEDCOL) to form a JV for setting up a 500-megawatt (MW) floating solar power projects in Odisha.

In this, NHPC will hold a 74% stake, while GEDCOL holds 26%. The JV will have an authorised share capital of Rs 500 crore divided into 50 crore shares of Rs 10 each.

Exp. A committee constituted to enquire security lapses during PM Punjab visit; headed by Sudhir Kumar Saxena

Ministry of Home Affairs has constituted a committee to enquire into the serious lapses in the security arrangements during Prime Minister Narendra Modi’s visit to Punjab.

It is a three-member committee and will be headed by Sudhir Kumar Saxena, Secretary (Security), Cabinet Secretariat It also comprises Balbir Singh, Joint Director, IB and S. Suresh, IG, SPG.

Exp. Japan & Australia signed defence agreement to counter China

Japan and Australia signed a ‘landmark’ defence treaty named the Reciprocal Access Agreement (RAA) to counter China’s expansionary military and economic policies.

The treaty or RAA will enhance the interoperability and cooperation between the two countries. It is the second deal signed between Japan & Australia after Quadrilateral Security Dialogue (QUAD).

The treaty was signed between Australian Prime Minister Scott Morrison and Japanese PM Fumio Kishida in a virtual conference organized in Tokyo, Japan.

Exp. RBI increased banks’ LCR maintenance on Funds received from Non-Financial Small business customers to Rs 7.5 crores

The Reserve Bank of India has increased the threshold limit for Banks to maintain the Liquidity Coverage Ratio (LCR) on deposits and other ‘extension of funds’ received from non-financial small business customers from Rs 5 crore to Rs 7.5 crore.

This is applicable on all Commercial Banks other than Regional Rural Banks, Local Area Banks and Payments Banks.

Aim: To better align RBI’s guidelines with the Basel Committee on Banking Supervision (BCBS) standard and enable banks to manage liquidity risk more effectively.

Exp. RBI laid down eligibility norms for entities tapping credit bureau data

Reserve Bank of India (RBI) has released eligibility norms for entities tapping into data from credit information companies (CICs) under clause (j) of Regulation 3 of the CICs (Amendment) Regulations, 2021.

A ‘specified user’ should be a company incorporated in India or a Statutory Corporation established in India.

In case the entity is a company, it should have not less than 3 years of experience in running the business/activity of processing information for the support or benefit of credit institutions and shall have a clean track record.

The company should have a net worth of not less than Rs 2 crore as per the latest audited balance sheet and should meet the requirement on a continuing basis.

Currently, there are 4 Credit Information Companies (CICs) — Credit Information Bureau (India) Ltd (CIBIL), Equifax Credit Information Services Pvt Ltd, Experian Credit Information Company of India Pvt Ltd and CRIF High Mark Credit Information Services Pvt Ltd.

Exp. Reliance Retail acquired 25.8% stake in Dunzo for USD 200 million

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited has purchased a 25.8% stake in Bengaluru-based startup Dunzo, an Indian company, with an investment of USD 200 Million (~ Rs 1489 crore).

The move will help Reliance get a foothold in the country’s growing quick delivery market. Dunzo has raised USD 240 million in a round of funding where the investment was led by RRVL.

Dunzo and RRVL will also enter into a business partnership under which Dunzo will enable hyperlocal logistics for the retail stores operated by RRVL and enhance the omni-channel capabilities of RRVL.

Exp. Airtel Payments Bank collaborated with Park+ to offer FASTag-based Parking Solutions

Airtel Payments Bank and Park+ have collaborated to offer FASTag-based smart parking solutions to marquee commercial and residential properties across India.

This partnership will utilize the reach of Airtel Payments Bank to digitise the parking ecosystem using FASTag associated with the vehicle.

Park+ is backed by Sequoia Capital and Matrix Partners, and is engaged in automating parking spaces through FASTag.

Exp. NSO estimated India’s GDP Growth at 9.2% in FY22

According to first advance estimates of National Statistical Office (NSO), India’s gross domestic product (GDP) is estimated to grow 9.2% in the financial year 2021-22.

In 2020-21, GDP had contracted to 7.3 percent, amid the covid-19 induced lockdown.

The NSO estimate is lower as compared to GDP forecast by RBI in December 2021 policy review. RBI had projected a GDP growth of 5 per cent.

The R BI has further estimated the growth of 6.6 per cent and 6 percent respectively in the third quarter (Oct-Dec 2021) and fourth quarter (Jan-Mar 2022).

Exp. Ind-Ra projected India’s GDP growth forecast at 9.3% in FY22

The rating agency India Ratings and Research (Ind-Ra) has downgraded the GDP of India for the current fiscal FY 2021-2022. Ind-Ra expects the GDP to clock a growth rate of 9.3% y-o-y in FY22.

Earlier this estimate was 9.4%. Meanwhile, Brickworks Ratings has also revised India’s GDP growth forecast for the current fiscal (FY22) to 8.5-9%. Earlier this was estimated at 10%.

Exp. Kuwait’s Haitham Al Ghais appointed as new secretary general of OPEC

Organization of the Petroleum Exporting Countries (OPEC) has appointed Kuwaiti oil executive Haitham Al Ghais as its new secretary-general, as demand for oil continues to improve amid a mild recovery from the coronavirus pandemic.

Al Ghais, a veteran of the Kuwait Petroleum Corporation and Kuwait’s Opec governor from 2017 to June 2021, will take the group’s reins in August, replacing Mohammad Barkindo.

Exp. RBI re-appointed Anup Bagchi as Executive Director of ICICI Bank

The Reserve Bank of India has approved the re-appointment of Anup Bagchi as an Executive Director of ICICI Bank for a period of 5 years.

The shareholders of the bank at its Annual General Meeting in August last year had approved Bagchi’s re-appointment for five years effective February 1, 2022.

ICICI Bank has two more executive directors — Sandeep Batra and Vishakha Mulye.

Exp. LLC appointed Jhulan Goswami as Ambassador of All Women Match Official Team

Legends League Cricket (LLC) appointed Jhulan Goswami as an Ambassador to its All Women Match Official Team to promote Women’s Empowerment initiatives of the LLC and to increase participation of women in cricket.

The LLC set up an All Women Match Official Team for the League. This is the first of its all women official teams that would officiate an entire men’s league.

Match Referee for entire season: Shandre Fritz (South Africa)

Umpires: Shubhda Bhosle Gaikwad (youngest female umpire of India), Lauren Agenbag, Humaira Farah, Renee Montgomery.

Legends League Cricket (LLC) is the professional cricket league for retired cricketers. The inaugural session of LLC will be organized from January 20 2022 at Oman Cricket Stadium in Muscat, Oman.

Legends League Cricket (LLC) 2022 teams: Indian Maharaja, Aisan Lions, World Giants

Exp. UP ranked best state in water conservation efforts at 3rd National Water Awards 2020; Rajasthan 2nd

Union Minister of Jal Shakti, Gajendra Singh Shekhawat has declared the winners of the third National Water Awards for the year 2020.

Uttar Pradesh has been adjudged as the Best State in water conservation efforts in the National Water Awards 2020. It is followed by Rajasthan and Tamil Nadu respectively.

Muzaffarnagar in Uttar Pradesh received the best district award in the northern zone followed by Shahid Bhagat Singh Nagar in Punjab.

Exp. Satish Adiga received ICMR national award “Dr Subhas Mukherjee Award”

Dr Satish Adiga, a professor in the clinical embryology department at Kasturba Medical College (KMC), under Manipal Academy of Higher education (MAHE), has been selected by the Indian Council of Medical Research (ICMR) for its national award.

Adiga will receive Dr Subhas Mukherjee Award from ICMR in recognition for his outstanding contribution to the field of in-vitro fertilization (IVF). He has contributed significantly to both clinical IVF and fertility research.

Exp. Nodirbek Abdusattorov won World Rapid Chess Championship 2021

Nodirbek Abdusattorov, from Uzbekistan, won the World Rapid Chess Championship 2021 by defeating Ian Nepomniachtchi (Russia) in a tiebreaker and dethroning Magnus Carlsen, the current World Number 1.

2020 FIDE Championship was won by Magnus Carlsen. Nodirbek won the title along with a prize of $60,000, where he lost only one match against the Ukrainian Anton Korobov, and tied in five others.

The Uzbeki Grand Master (GM), received the Mard Uglon (“Brave Son”) Presidential medal.

Exp. DPIIT & Ministry of Commerce organized “Startup India Innovation Week” from January 10-16, 2022

The Department for Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Commerce and Industry have decided to organise a week-long virtual innovation celebration called ‘Startup India Innovation Week’ to showcase the spread and depth of entrepreneurship across India.

The virtual event will be organised from January 10 to January 16, 2022. The event also aims to commemorate the 75th year of India’s independence ‘Azadi Ka Amrit Mahotsav’.

Exp. 6 January: BIS Foundation Day

The Bureau of Indian Standards (BIS), the National Standard Body of India, annually celebrates the BIS Foundation Day on 6th January.

The BIS foundation day commemorates the day on which BIS came into existence as the Indian Standards Institution (ISI) (6th January 1947).

6th January 2022 marks the observance of the 75th BIS Foundation Day.