Latest Current Affairs For Thursday 3rd March, 2022

FM launch e-governance initiative, Electronic Bill processing system

FM Nirmala Sitharaman will launch major e-governance initiative - Electronic Bill processing system as part of ease of doing business and Digital India eco-system on 46th Civil Accounts Day (2nd March) celebration in New Delhi. 

It will be implemented across all Central Ministries and Departments and is will step towards transparency, efficiency, and a faceless-paperless payment system. 

Through this, suppliers and contractors will now be able to submit their claim online. 

Bangladesh signs agreement with ADB for flood management

Govt of Bangladesh has signed two separate agreements with Asian Development Bank (ADB) for loans worth USD 292 million. 

First loan worth USD 157 million is being provided to mitigate flood and riverbank erosion risks along Jamuna, Padma, and Ganges rivers. 

It is part of 2nd tranche of Flood and Riverbank Erosion Risk Management Investment Program (FRERMIP). 

ADB has also approved USD 135 million to improve access and quality of inclusive water services. 

Assam govt declares entire state as “Disturbed Area” for up to 6 months

Assam govt has declared entire state as ‘Disturbed Area’ for up to 6 months. 

This declaration has been made as per powers conferred under Section 3 of Armed Forces (Special Powers) Act, 1958.

Initially, it was Assam Disturbed Area Act of 1955 during agitation by Nagas in undivided Assam.

This Act gave freehand to some extent to the Army that was repealed with the incorporation of the Armed Forces (Special Power) Act, 1958.

Smriti Irani launches new motto of National Commission for Protection

Minister of Women and Child Development, Smriti Irani has launched new motto of National Commission for Protection of Child Rights (NCPCR) on its 17th foundation day at Red Fort, New Delhi.

New motto of NCPCR is ‘भविष्यो रक्षति रक्षित:’. 

It exhorts us to protect the future i.e. our children, for in their welfare lies the foundation of a strong Nation.

Union WCD Minister also complemented the collaboration between NCPCR & Border Security Force for ‘SAHARA’ initiative.

CCI to hold National Conference on Economics of Competition Law

Competition Commission of India will virtually inaugurate 7th National Conference on Economics of Competition Law on 4th March 2022.

This conference is being organized every year since 2016.

Member of Economic Advisory Council to PM, Neelkanth Mishra will address the inaugural session.

Plenary at this year's conference is on the topic ‘Reforms and Deepening of Markets’.

It is an endeavour to develop and sustain interest in the Economics of Competition Law. 

President Ram Nath Kovind inaugurates 'Arogya Vanam' at Rashtrapati Bhavan

President Ram Nath Kovind has inaugurated hub of medicinal herbs and plants titled 'Arogya Vanam' at Rashtrapati Bhavan in the presence of PM Narendra Modi and First Lady Savita Kovind.

It has been developed in a 6.6 acre area and has 215 types of medicinal plants like Neem, Tulsi, Bel, Arand, Arjun, Ashwagandha and Harsingar.

Apart from this, Aroma Garden, Lotus Pond, Water Channels, Yog Manch and ViewPoint are also part of Arogya Vanam.

31st Southeast Asian Games to be held in Vietnam

The 31st Southeast Asian Games will be held in Vietnam from 12th to 23rd May 2022.

It is the biggest sporting event of Southeast Asia and is a biennial event. 

It was originally scheduled to take place in November 2021 however it was postponed due to COVID pandemic.

Hanoi (capital of Vietnam) will be the main venue of the event.

It will feature 40 sports with 526 events, attracting around 10,000 participants. 

Tamil Nadu CM MK Stalin’s autobiography ‘Ungalil Oruvan’ launched

Rahul Gandhi has launched the autobiography of MK Stalin, Chief Minister of Tamil Nadu. 

The book is titled as ‘Ungalil Oruvan’ which literally means ‘One Among You’.

This is the first part of the autobiography that contains early life experiences of MK Stalin, who is the president of the Dravida Munnetra Kazhagam (DMK) party.

It is the first of a reported three-volume autobiography, capturing the first 23 years of his life, including his early days in politics.

HDFC Bank finances Asia’s largest waste to energy plant

HDFC Bank has partnered with Indore Clean Energy Private Limited (ICEPL) for the development of Gobar-Dhan plant in Indore under Environmental, social, and governance (ESG) commitments. 

It is a 550-tonne capacity Gobar-Dhan (Bio-CNG) Plant inaugurated by PM Modi in Indore, MP. 

This is the biggest Bio-CNG plant in Asia.

It has been set up at a cost of Rs 150 crore.

ICEPL: promoted by Green Growth Equity Fund (GGEF), which is the largest climate impact fund in India.

India will soon launch the third phase of Monsoon Mission

India will soon lunch the third phase of Monsoon Mission, for development of more number of parameterization schemes.

Aim: to achieve further improvement in our understanding about the monsoons, thus helping achieve a quantum leap in the predictions. 

Monsoon Mission was launched for the first time in 2012.

It has been a flagship project undertaken by the MoES to improve overall understanding of Indian monsoons.

International Monsoons Project Office launched at IITM, Pune

Union Minister, Jitendra Singh has virtually launched International Monsoons Project Office (IMPO) at Indian Institute of Tropical Meteorology (IITM), Pune on the occasion of National Science Day (February 28, 2022).

It has been launched for an initial period of 5 years.

Objective: Promoting knowledge sharing and capacity building in areas of monsoon research. 

IMPO and World Climate Research Programme (WCRP) will work towards coordinating with global monsoon experts. 

Union Minister inaugurate ‘Sagar Parikrama’ on 5th Feb 2022

Union Minister, Parshottam Rupala will inaugurate ‘Sagar Parikrama’ on 5th March 2022.

Organized by: Dept of Fisheries, National Fisheries Development Board along with Indian Coast Guard, Fishery Survey of India, Gujarat Maritime Board and fishermen representatives. 

Parikrama is starting from Mandvi at Shyamiji Krishna Varma Memorial, Gujarat is an endeavor to know problems of Coastal Fisher Folk. 

It will be organized in other districts of Gujarat and other State/UTs.

Saurabh Chaudhary clinches India's first gold at ISSF World Cup

Saurabh Chaudhary (19 years) has clinched India's first gold medal at the ongoing International Shooting Sport Federation (ISSF) World Cup in Cairo, Egypt. 

He defeated Michael Schwald of Germany by 16-6 in the gold medal match of Men's 10m Air Pistol event.

Apart from him, Russian Artem Chernousov bagged bronze medal at the event.

India's Shreya Agrawal narrowly missed in World Cup's 10m air rifle event semi finals.

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.