Latest Current Affairs For Saturday 16th April, 2022

World Bank cut India’s GDP Growth for FY22-23 to 8%

The World Bank has reduced India's GDP forecast for the fiscal year 2022-23 to 8% from 8.7%.

Reason: worsening supply bottlenecks and rising inflation risks which were caused by Russia's invasion of Ukraine

World Bank also cut a full percentage point of the growth outlook for South Asia to 6.6% (excluding Afghanistan).

World Bank Headquarters: Washington, D.C.; President: David Malpass; MD & CFO: Anshula Kant

MyGov launched Sabka Vikas Maha Quiz to promote awareness on schemes

MyGov is organising 'Sabka Vikas Mahaquiz' series under the Ministry of Electronics and Information Technology (MeitY).

Aim: To create awareness among the citizens about the schemes and initiatives of the government.

The scheme was launched on the birth anniversary of Bharat Ratna Dr Babasaheb Bhimrao Ambedkar on April 14, 2022.

The first quiz was on Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) under the Ministry of Consumer Affairs, Food, and Public Distribution.

Andrew McDonald appointed as Australia's new head coach

Andrew McDonald has been appointed as the head coach of the Australian men's cricket team and has signed an agreement for a four-year contract.

McDonald has joined the Australian set up as an assistant in 2019.

McDonald takes over the role of Justin Langer who resigned from messy circumstances in February.

He led the team to a 1-0 Test series and won praise from Test captain Pat Cummins.

ICC Chairman: Greg Barclay; CEO: Geoff Allardice

Tamil Nadu observes Ambedkar birth anniversary 'Equality Day'

Tamil Nadu Chief Minister MK Stalin announced the birth anniversary of Dr Ambedkar on April 14 would be observed as 'Equality Day' from this year onwards.

Some selected works of Ambedkar would be published in Tamil (critical edition).

The government also informed that swift action taken on any representation aimed at the growth of all the Tamils.

The DMK government already declared Periyar's birth anniversary on September 17 as social justice day.

Author Prem Rawat launches his book 'Hear Yourself'

Author Prem Rawat has launched his book 'Hear Yourself' for the Indian subcontinent in Mumbai.

This is the New York Times bestseller book which is already available in 58 countries and five languages.

This book assists people to understand their own potential, develop better self-understanding, and help them to find out peace in a noisy world. 

Other book: Peace is Possible - Thoughts on Happiness, Success and Relationships for a Deeper Understanding of Life

Bangladesh celebrates Bangla New Year Pohela Boisakh

The Bangla new year named Pohela Boisakh was celebrated across Bangladesh on April 14, 2022, with enthusiasm and festivity. This festival is also known as Bangla Noboborsho.

Pohela Boishakh marks the first day of the initial month of Baishakh of the Bengali solar calendar.

Pohela Boishakh celebrates with other regional festivals like Puthandu in Tamil Nadu, Baisakhi in Punjab, Vishu in Kerala, and Bihu in Assam.

Street Child Cricket World Cup in 2023 hosted by India

The Street Child Cricket World Cup 2023 will be hosted by Street Child United and Save the Children India.

This world cup will be held in September ahead of the ICC World Cup, and street children and young people take part in a mixed-gender cricket tournament.

In 2019, Team India South has won the cup after beating hosts England.

In 2023 India will host: 2023 Cricket World Cup; 2023 IOC session in Mumbai; National Delphic Games; 2023 G20 Delhi summit

FDA authorizes first breath test for Covid-19 infection

The Food and Drug Administration of the United States of America (USA) has authorized the first device named InspectIR COVID-19 Breathalyzer to detect COVID-19 in breath samples.

The device was 91.2% accurate at identifying positive test samples and 99.3% accurate at identifying negative test samples.

The test can provide results in less than three minutes and the test must be done under the supervision of a licensed health care provider.

Punjab National Bank commemorates 128th Foundation Day

Punjab National Bank, India's second-largest bank has celebrated its 128th Foundation Day on April 12, 2022.

On the occasion of foundation day, MD & CEO of PNB, Atul Kumar Goel has launched a cardless cash withdrawal service and a virtual debit card for its customers.

Bank also launched various services on its mobile app named PNB One for safe banking transactions.

The bank was founded by eminent freedom fighter Lala Lajpat Rai.

Headquarters: New Delhi

Fino Payments Bank to invest in Paysprint

Fino Payments Bank has approved a minority strategic investment in fintech Paysprint Pvt Ltd of up to 12.19%.

Paysprint is a rapidly growing financial technology company which is offering next-generation APIs in the areas of insurance, investment, banking, payments, and more.

The partnership will transform the digital banking space in coming days.

Fino Payments Bank Headquarters: Juinagar, Navi Mumbai; MD & CEO: Rishi Gupta

CEO of Paysprint: S Anand

India's Retail inflation shoots up to 6.95% in March

Retail inflation in India has been rose to 6.95% in March 2022 from 6.07% in February month.

Inflation is based on Consumer Price Index (CPI) increased sharply due to rising food and oil prices.

As per the Ministry of Statistics and Programme Implementation data, the inflation in the food basket was 7.68% in March which is up from 5.85% in February 2022.

Retail inflation of March 2022 has breached the Reserve Bank of India's (RBI) upper tolerance limit of 6%.

Vice President presents International Gandhi Award for Leprosy 2021

Vice President M. Venkaiah Naidu has presented the International Gandhi Award for Leprosy, 2021 to Dr. Bhushan Kumar of Chandigarh and Sahyog Kushtha Yagna Trust, Gujarat.

The award is instituted by Gandhi Memorial Leprosy Foundation.

Both Dr. Bhushan Kumar and Sahyog Kushtha Yagna Trust have been working to raise awareness about leprosy and in providing care to those afflicted with it.

World Leprosy Day: 30 January

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.