Latest Current Affairs For Sunday 27th March, 2022

NITI Aayog`s releases Export Preparedness Index 2021, Gujarat again tops

Gujarat topped Niti Aayog’s Export Preparedness Index 2021, followed by Maharashtra and Karnataka in second and third place, respectively. Gujarat has topped the Niti Aayog rankings for the second year in a row “s Export Preparedness Index 2021, which is intended to assess states’ preparation in terms of export potential and performance.

Key Points:

According to the government think tank, Gujarat was followed by Maharashtra, Karnataka, Tamil Nadu, Haryana, Uttar Pradesh, Madhya Pradesh, Punjab, Andhra Pradesh, and Telengana “s document. Union territories and states such as Lakshadweep, Arunachal Pradesh, Mizoram, Ladakh, and Meghalaya ranked worst.

NITI Aayog Vice Chairman Rajiv Kumar, speaking at the launch of the study, claimed that India’s exports are growing at 36%, while global trade is growing at 30%. “

After a long time, we will see India’s share of world goods trade increase from 1.6 to 1.7 percent,” he added, adding that sectors such as cars, electrical machinery, and iron and steel contributed to the expansion.

The world trade is about USD 24 trillion, with India’s exports worth USD 400 billion, indicating “huge” potential.

The Export Preparedness Index measures a state’s readiness to export in terms of potential and performance.

NATO extended Jens Stoltenberg’s term by a year

According to a NATO statement, the North Atlantic Treaty Organisation (NATO) extended Secretary-General Jens Stoltenberg’s tenure by a year until September 30, 2023.

Key Points:

After a NATO conference in Brussels, US President Joe Biden and other NATO leaders decided to extend Stoltenberg’s tenure.

In October 2014, Stoltenberg, a former Norwegian prime minister, was named NATO Secretary-General. In September 2021, his term was set to end.

I am honoured by #NATO Heads of State and Government’s decision to extend my term as Secretary-General until September 30, 2023. “We remain united to keep our Alliance strong and our people safe as we face the greatest security crisis in a century,” Stoltenberg tweeted.

RBI Governor Shaktikanta Das inaugurated RBIH in Bengaluru

RBI Governor Shaktikanta Das inaugurated the Reserve Bank Innovation Hub (RBIH) in Bengaluru on Thursday, which was established with a Rs 100 crore initial capital contribution to foster and nurture financial innovation. According to the central bank, the Hub has an independent Board with Senapathy (Kris) Gopalakrishnan as Chairman and other notable people from industry and academics as members.

Key Points:

The RBIH was established as a Section 8 business under the Companies Act of 2013, with an initial capital contribution of Rs 100 crore, to stimulate and develop financial innovation in a long-term institutional setting.

RBIH intends to build an ecosystem that promotes access to financial services and goods for the country’s low-income people.

The Hub would bring together several stakeholders in the financial innovation area (BFSI sector, startup ecosystem, regulators, and academia).

Important For All Exam 2022:

RBIH: Reserved bank of India was established as a Section 8 business under the Companies Act of 2013.

RBI Governor: Shaktikanta Das. 

AAI and BEL collaborated to develop indigenous Air Traffic Management Systems

Airports Authority of India (AAI) has signed an agreement with Defence Public Sector Undertaking Bharat Electronics Limited (BEL) for the joint indigenous development of systems for air traffic management and surface movement of aircraft at airports across the country, which were previously imported.

Key Points:

BEL and AAI will collaborate to develop the Civil Air Traffic Management System (ATMS) with Advanced-Surface Movement Guidance and Control System (ASMGCS), a complex ground surveillance system that manages air traffic at airports and in Indian civil airspace to ensure safe flight operations from take-off to landing.

According to a Civil Aviation Ministry release, BEL and AAI will work together to develop the Civil Air Traffic Management System (ATMS) with Advanced-Surface Movement Guidance and Control System (ASMGCS), a complex ground surveillance system that manages air traffic at airports and in Indian civil airspace for safe flight operations from take-off to landing.

“The current arrangement is in accordance with AAI’s R&D Policy to update its ANS Infrastructure in a methodical, efficient, and cost-effective manner, as well as the Government of India’s ‘Atmanirbhar Bharat’ missions.” This will lessen AAI’s reliance on foreign suppliers for ANS infrastructure.

Air traffic control has two purposes: to ensure safety by maintaining separation between many planes and to manage airport operations efficiently.

In order to guarantee safe surface mobility in all weather situations at the airport, ASMGCS provides routing, guidance, and surveillance services to aircraft and vehicles on the ground.

The goal of ATMS with ASMGCS is to provide the air traffic controller with a complete air traffic picture of the coverage area while interacting with primary or secondary radar, ADS-B, Multilateration System (MLATs), and navigational equipment such as GPS, Instrument Landing System (ILS), and Doppler Very High Frequency Omni Range (DVOR).

It also communicates with other systems such as the Aeronautical Fixed Telecommunications Network (AFTN), the Airport Operational Database (AODB), the Airport Collaborative Decision Making (ACDM), and the Centralised Air Traffic Flow Management system (CATFM).

The system is used to accommodate a significant amount of air traffic, including military flights, in congested airports and airspaces.

The system includes a Situation Display for Air Traffic Controllers, Surveillance Data Processing (SDP), Flight Data Processing (FDP), Safety Net and Decision Support (SNET), Control & Monitoring Display (CMD), Advanced ASMGCS, and other in-house developed technologies.

By lowering controller strain, improving air traffic flow, and reducing flight delays, it aids in boosting capacity while also improving safety. ATM activities are protected by a redundant and distributed architecture that provides increased system dependability and availability.

Lt. Gen. Vinod G. Khandare appointed as Adviser in Defence Ministry

Lieutenant General Vinod G. Khandare (retired) has been appointed as Adviser in the Ministry of Defence, providing strategic insights and advise on matters relevant to defence strategy to the Defence Secretary.

Key Points:     

According to defence sources, he will collaborate closely with the Secretary of Defense.

The role’s mandate would be to provide strategic inputs and advise on matters relating to defence strategy, readiness, and associated activities, such as the International Defense Corporation, maritime security, and defence space.

 About Lt. Gen. Khandare:

Gen. Khandare retired from the Army at the end of January 2018.

He worked as the Military Adviat the Prime Minister’s Office’s National Security Council Secretariat (NSCS) from then till October 2021.

He was the Director General of the ser Defence Intelligence Agency and the Deputy Chief of the Integrated Defence Staff for Intelligence from November 2015 until January 2018.

He joined the 14 Garhwal Rifles in September 1979 and served in a variety of terrains and operational duties in Siachen, Jammu and Kashmir, Sikkim, and the northeast area for over four decades.

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.