Latest Current Affairs For Sunday 24th April, 2022

NITI Aayog releases draft battery swapping policy

NITI Aayog has released a draft battery swapping policy.

According to the which all metropolitan cities with a population above 40 lakh will be prioritized for the development of battery swapping network under the first phase.

All major cities such as state capitals, UT headquarters, and cities with populations above 5 lakh will be covered under the second phase.

Importance has been given to the two-wheeler and three-wheeler vehicle segments in growing cities.

RBI extends Legal Entity Identifier for larger borrowers of NBFCs, UCBs

RBI has extended the guidelines on Legal Entity Identifier (LEI) to large borrowers of NBFCs and Primary (Urban) Co-operative Banks (UCBs).

The RBI further advised that non-individual borrowers enjoying aggregate exposure of ₹5 crores and above from banks and financial institutions (FIs) shall be required to obtain LEI codes as per the given timeline.

The Legal Entity Identifier is a 20-digit number used to uniquely identify parties to financial transactions globally.

RBI issues new rules, penalties for debit & credit cards

The Reserve Bank of India asked card companies not to issue unsolicited credit cards or upgrade existing cards without the explicit consent of the customer. 

Failing which they would be liable to pay double the amount billed as a penalty.

In its Master Directions on Issuance of Credit Cards and Debit Cards, RBI stated “Issue of unsolicited cards/up-gradation is strictly prohibited”.

These instructions will be effective from July 1, 2022.

Prasar Bharati signs MoU with Public Broadcaster of Argentina

Prasar Bharati has signed an MoU with the Public Broadcaster of Argentina Radio y Television Argentina (RTA) for collaboration in the field of broadcasting.

The MoU encompasses a range of fronts in Media and Broadcasting that is set to exemplify the communication and transmission networking of both nations.

India and Argentina share cordial relations and developmental partnerships in the areas of political, economic, scientific and technological cooperation.

World Book Day 2022: 23rd April

UNESCO has marked 23 April as World Book and Copyright Day, also known as World Book Day.

The day is celebrated in over a hundred countries around the world. 23 April is also the day legendary writers -Inca Garcilaso de la Vega and William Shakespeare died.

The UN agency's decision also aims to honour these authors.

The theme of World Book Day 2022 is ‘Read…So you never feel alone.’

World Book Day was first observed by UNESCO on 23 April, 1995.

Aditya Birla Capital appoints ICICI bank's Vishakha Mulye as the next CEO

Aditya Birla Capital has appointed Vishakha Mulye as its next Chief Executive Officer.

Mulye is currently the executive director in charge of corporate banking, proprietary trading, markets and transaction banking.

Mulye replaces Ajay Srinivasan who will now take up another role within the Aditya Birla Group.

In her prior roles, she was the head of ICICI Lombard and ICICI Ventures.

BHIM UPI goes live at NEOPAY terminals in UAE

NPCI International Payments Ltd has announced that BHIM UPI is now live at NEOPAY terminals, across the UAE.

This initiative will empower millions of Indians who travel to the UAE to safely and conveniently make payments using BHIM UPI across NEOPAY-enabled shops and merchant stores.

NIPL and NEOPAY partnered last year, to create the acceptance infrastructure in the UAE.

NIPL is the International arm of the NPCI.

NEOPAY is the payment subsidiary of Mashreq Bank.

SIDBI gives in-principle nod for ₹600-crore assistance to Maharashtra

Small Industries Development Bank of India has provided the first approval under the SIDBI Cluster Development Fund (SCDF) to the Maharashtra Govt. 

The ₹600 crore aid has been approved for reviving/ upgrading ITIs/polytechnics run by the Directorate of Vocational Education and Training under the Department of Skills, Employment, Entrepreneurship and Innovation. 

SIDBI is the principal financial institution focused on promotion, financing and development of MSMEs. 

Indian SaaS to reach $100 billion in revenues by 2026: Report

According to the 2022 edition of the Chiratae-Zinnov India SaaS report titled, “India SaaS - Punching Through the Global Pecking Order, the Indian SaaS (Software As A Service) industry is set to clock in $100 billion in revenues by 2026.

The industry in India is witnessing a ‘coming-of-age’ moment, “with an incredible bull run that has firmly anchored its position on the global stage. 

Indian SaaS witnessed massive growth at approx 55 per cent CAGR in 2021.

Suman Bery to replace Rajiv Kumar as NITI Vice Chairman

Noted economist Suman Bery has been appointed as Niti Aayog Vice-Chairman with effect from May 1, 2022.

He was appointed after Rajiv Kumar stepped down from the post.

The Government accepted his resignation.

Kumar, an eminent economist, took over as vice chairman of Niti Aayog in August 2017 after the then VC Arvind Panagariya exited the govt think-tank. 

Niti Aayog came into existence on January 1, 2015, replacing the decades-old Planning Commission.

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.