Latest Current Affairs For Friday 18th February, 2022

Bengali singer Sandhya Mukherjee passes away

Legendary Bengali singer, Sandhya Mukherjee has passed away at the age of 90 years due to cardiac arrest. Her full name was Geetashree Sandhya Mukhopadhyay. She had recently refused to accept the Padma award from the central government that was awarded in January 2022.

She told him that Padma Shree is not an award that should be conferred on a veteran like her. It would be demeaning for her to accept it. She was born in Kolkata in 1931, Sandhya Mukherjee recorded her first song in 1948 for the Hindi movie Anjaan Garh.

The music was composed by Rai Chand Boral. She sang under the direction of famous composers such as S D Burman, Roshan and Madan Mohan.

A book titled ‘Humane: How the United States Abandoned Peace and Reinvented War’ released

A new book titled “Humane: How the United States Abandoned Peace and Reinvented War” authored by Samuel Moyn was released. Samuel Moyn is the Professor of Jurisprudence at Yale Law School and a professor of History at Yale University.

This provocative book argues about the endless wars the USA created in the past including Vietnam War (1955-1975), Korean War (1950-1953), World War II (1939-1945) etc and this development might not represent progress at all.

The book highlights the United States of America (USA) strategy on fighting wars and how armed combat was transformed from an imperfect tool for resolving disputes into an integral component of the modern condition.

Social Justice Ministry launches Scheme for Economic Empowerment of DNTs

Union Minister of Social Justice and Empowerment, Dr Virendra Kumar has launched a central sector scheme named the Scheme for Economic Empowerment for DNTs, (SEED) at Dr Ambedkar International Centre, New Delhi.

The total financial outlay for SEED Scheme is approximately Rs 200 crore to be spent over a period of 5 years starting Financial Year 2021-22 to 2025-26.

The objective of SEED is the welfare of De-notified, Nomadic and Semi Nomadic tribal Communities (DNT/NT/SNT), which are the most neglected, marginalized and economically and socially deprived communities.

The scheme will have the following four components:

To provide coaching of good quality for DNT/NT/SNT candidates to enable them to appear in competitive examinations.

To provide health insurance to DNT/NT/SNT Communities.

To facilitate livelihoods initiative at the community level to build and strengthen small clusters of DNT/NT/SNT Communities institutions.

To provide financial assistance for the construction of houses to members of the DNT/NT/SNT Communities.

GoI forms G20 Secretariat in view India’s G20 Presidency

India will hold the Presidency of the G20 from 1 December 2022 to 30 November 2023 and the G20 Summit will be held in India in 2023 (18th edition). For its preparation, the government has approved the setting up of a G20 Secretariat and its reporting structures.

The G20 Secretariat will be guided by an Apex Committee headed by Prime Minister and it will have the following members: Finance Minister: Nirmala Sitharaman, Home Minister: Amit Shah, External Affairs Minister: S. Jaishankar, and G20 Sherpa: Piyush Goyal.

The G20 secretariat will be responsible for the implementation of overall policy decisions and arrangements needed for steering India’s forthcoming G20 Presidency. In 2021, the G20 summits was held in Rome, Italy. In 2022 the G20 summit will be held in Bali, Indonesia while in 2023 it will be held in New Delhi, India.

Union Minister RK Singh co-chairs 4th India-Australia Energy Dialogue

The 4th India-Australia Energy Dialogue was co-chaired by Union Minister for Power and New & Renewable Energy, RK Singh and Australian Energy and Emissions Reduction Minister Angus Taylor.

Energy Transition was a major area of discussion in the dialogue and both the Energy Ministers. Energy Transition activities in their respective countries with a focus on renewables, energy efficiency, storage, EVs, critical minerals, mining etc.

The need of Climate Finance was also highlighted by India for meeting the Energy Transition goals of developing countries. Both the countries signed a Letter of Intent (LoI) for working towards reducing the cost of new and renewable energy technologies and scaling up their deployment to reduce global emissions.

Sebi makes provision of separation of chairperson & MD/CEO roles voluntary 

Securities and Exchange Board of India (Sebi) board has decided to make provision for separation of the roles of chairperson and MD/CEO as ‘voluntary’ against ‘mandatory’ earlier.

The market regulator had in June 2017 set up a committee on corporate governance under Uday Kotak with a view to seek recommendations to further enhance corporate governance norms for listed companies.

One of the recommendations that the Committee came out with was the separation of the roles of chairperson and MD/CEO of listed companies. This was proposed to provide a better and more balanced governance structure by enabling more effective and objective supervision of the management.

The Sebi board, in its meeting in March 2018 approved the proposal for the top 500-listed entities. Later the deadline for compliance was extended by two years in January 2020.

Important For All Exam 2022:

SEBI Founded: 12 April 1992;

SEBI Headquarters: Mumbai;

SEBI Chairperson: Ajay Tyagi.

SIDBI launches ‘waste to wealth creation’ programme 2022 

Small Industries Development Bank of India (SIDBI) has launched the ‘Waste to Wealth Creation’ programme for women in the Sundarbans in West Bengal. In this, the women will make ornaments and showpieces from the fish scales. SIDBI will extend benefits to 50 women indirectly generating revenues from alternate livelihoods.

Under this programme, Later, these women are expected to become a trainer for replicating and disseminating the knowledge among other aspirants. This is a part of mission Swavalamban of SIDBI that aims to support artisans to become sustainable.

Important For All Exam 2022:

SIDBI Founded: 2 April 1990;

SIDBI Headquarters: Lucknow;

SIDBI Chairman & MD: Sivasubramanian Ramann.

Jio Platforms picks up 25% stake in US-based tech startup TWO Platforms

Jio Platforms has picked up a 25% stake in US-based deep-tech startup company TWO Platforms for $15 million. Two Platforms is an artificial reality company that focuses on building interactive and immersive AI experiences.

The two companies have joined hands to fast track the adoption of new technologies and build disruptive technologies such as AI, metaverse and mixed realities. TWO’s platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.

It plans to bring its interactive AI technologies first to consumer applications followed by entertainment and gaming, as well as enterprise solutions including retail, services, education, health and wellness. The platform was founded by Indian-origin computer scientist Pranav Mistry.

India’s wholesale inflation declines to 12.96% in January

India’s wholesale inflation has eased to 12.96 % in January from 13.56 % in the previous month. The Wholesale Price Index (WPI) based inflation has declined consistently in recent months.

It fell from 14.87 % in November 2021 to 13.56 % in December 2021 and further to 12.96 % in January 2022. However, inflation still remains at an elevated level and is a matter of concern for economic policymakers.

The high rate of inflation in January 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, basic metals, chemicals, and chemical products, food articles etc as compared the corresponding month of the previous year”.

Wholesale food inflation hardened during the month of January. The rate of inflation based on the WPI Food Index increased marginally from 9.24 % in December 2021 to 9.55 % in January 2022.

Prices of Minerals rose by 11.08 % and non-food articles became costlier by 0.37 % in January 2022 as compared to December 2021.

Yes Bank launches ‘Agri Infinity’ programme

Private sector lender, Yes Bank has launched an ‘Agri Infinity’ programme for digital financing solutions in the food and agriculture sector ecosystem by mentoring entrepreneurial ventures in this field.

Agri-fintech start-ups working on financial innovations across the food and agriculture value chain are eligible to apply under this programme and can work with Yes Bank for digital solutions.

Through the initiative, a select cohort of startups will not only receive mentoring by veteran bankers for experiential co-development but also get access to YES BANK’s digital banking infrastructure and network, collaborative opportunities to pilot new solutions and fundraising advisory.

Those involved in originations, farmer on-boarding, farmer KYC, credit scoring, risk assessment, monitoring and mitigation, disbursement and recovery solutions and cash management system, among others, can apply.

Important For All Exam 2022:

Yes Bank Founded: 2004;

Yes Bank Headquarters: Mumbai, Maharashtra;

Yes Bank CEO: Prashant Kumar;

Yes Bank Tagline: Experience Our Expertise.

Bihar ropes in Manoj Tiwari as brand ambassador for Khadi

Bhojpuri singer and BJP MP, Manoj Tiwari will be the brand ambassador of Khadi and other handicrafts of Bihar. He will be the “brand ambassador” for Khadi and other handicrafts of Bihar, state minister Syed Shahnawaz Hussain announced.

Manoj Tiwari will promote the use of Khadi fabric, which was popularized by Mahatma Gandhi during India’s Independence movement. Tiwari, who has lent his voice to innumerable foot-tapping numbers, including the “Gangs of Wasseypur” chartbuster “Jiya ho Bihar ke lala”.

Important For All Exam 2022:

Bihar Governor: Phagu Chauhan;

Bihar Capital: Patna;

Bihar Chief minister: Nitish Kumar.

World Health Organisation launches Quit Tobacco App

World Health Organization (WHO) South-East Asia Region (SEAR) has launched a ‘Quit Tobacco App’. This application helps people to give up the use of tobacco in all forms, including smokeless and other newer products.

The App was launched by Dr Poonam Khetrapal Singh, Regional Director, WHO-SEAR, during WHO’s year-long ‘Commit to quit’ campaign, is the latest tobacco control initiative by the WHO South-East Asia Region.

The app, the first such by WHO, and the first that targets all forms of tobacco, helps users to identify the triggers, set their targets, manage cravings, and stay focused to quit tobacco.

Tobacco is the world’s leading cause of preventable death and kills nearly 8 million persons every year. It claims 1.6 million lives in the WHO South-East Asia Region which is amongst the largest producers and consumers of tobacco products.

Important For All Exam 2022:

World Health Organization Headquarters: Geneva, Switzerland;

World Health Organization Founded: 7 April 1948;

World Health Organization Director-General: Tedros Adhanom.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.