Latest Current Affairs For Tuesday 3rd May, 2022

Air Asia to merge with Air India by Tata Group

Tata Sons has approached the Competition Commission of India (CCI) for a merger of Air India with Air Asia India.

AirAsia India was launched as a joint venture between the Tatas and Malaysia’s AirAsia Group.

Tatas had raised its stake in AirAsia India to 83.67% in December 2020.

In January 2022, Tata acquired Air India and Air India Express.

Tata group aviation companies:  Air India, Air India Express, Vistara, AirAsia India and Air India SATS Airport Services

World Tuna Day: May 2

World Tuna Day is being observed on 2nd May every year globally.

Aim: Promoting the importance of sustainable fishing practices and educating people on how Tuna become endangered species due to high demand.

UNGA has declared this day as World Tuna Day to create awareness to preserve species in 2016.

Tuna is an important source of Omega-3 and it also contains minerals, proteins, and vitamin B12, among other advantages.

Railways and C-DoT to work together for Public Safety & Security Services

Ministry of Railways has signed a pact with the Centre for Development of Telematics (C-DOT) for the modernization of Telecommunication in Indian Railways for Public Safety and Security Services.

It will be done using the LTE-R following world standards, 5G Use Cases in Indian Railways in line with Make in India policy, Internet of Things, Unified Network Management System, Network Management System, Chatting application, Routers and Switches.

Haryana government to build stadium in Neeraj Chopra’s hometown

Haryana Chief Minister Manohar Lal Khattar has announced to build a stadium in Olympic gold-medallist Neeraj Chopra's native village Khandra, Panipat.

A stadium would cost ₹10 crores to the government.

In 2021, Chopra (Javelin thrower) became the first Indian to win a gold medal in the Olympic track and field.

Khelo India Youth Games-2021 will be organised by the Haryana Government from June 4 to June 13.

Indian Bank launched pre-approved personal loan under Project WAVE

Indian Bank has unveiled a pre-approved personal loan (PAPL) product under Project World of Advance Virtual Experience (WAVE).

Aims: To provide customers with instant loan disbursements.

The loan would carry an interest rate of 10% p.a. with no foreclosure charges.

The service is available for existing customers (regular income and pension accounts) and can be availed of through a mobile application, website, and internet banking facility.

Narayan Rane launches MSME Sustainable (ZED) Certification Scheme

Narayan Rane (Union Minister for Micro, Small and Medium Enterprises) has launched the MSME Sustainable Zero Defect Zero Effect (ZED) Certification Scheme.

MSMEs will get subsidies as per the following structure, on the cost of ZED certification - Micro Enterprises: 80%; Small Enterprises: 60%; Medium Enterprises: 50%

An additional subsidy of 10% for the MSMEs owned by Women/SC/ST Entrepreneurs OR MSMEs in NER/Himalayan/LWE/Island territories/aspirational districts.

Film and TV actor Salim Ghouse dies

Actor Salim Ghouse passed away at the age of 70 due to cardiac arrest.

He made his debut with the film Swarg Narak in 1978 and acted in films like Charkha, Saransh, Manthan, Kalyug, Trikal, Aghaat, Drohi, Thiruda, Sardari Begum, Koyla, Soldier, Aks and several others.

He also played the roles of Rama, Krishna, and Tipu Sultan in Shyam Benegal’s TV Series Bharat Ek Khoj.

He has also worked in Malayalam and Tamil films.

GST Revenue collection for April 2022 highest ever at Rs 1.68 lakh crore

The gross revenue collection of Goods and Services Tax (GST) in the month of April 2022 is Rs 1,67,540 crore out of which CGST is Rs 33,159 crores, SGST is Rs 41,793 crores, IGST is Rs 81,939 crores.

The gross GST collection in April 2022 is Rs 25,000 crores more than the collection in March 2022 (Rs. 1,42,095 crores).

This is the tenth month in a row that the GST revenues have crossed Rs 1 lakh crore mark.

India-UAE Comprehensive Economic Partnership Agreement comes into force

The India-UAE Comprehensive Economic Partnership Agreement (CEPA) officially entered into force that was signed on 18 February 2022.

BVR Subrahmanyam (Secretary, Department of Commerce) has flagged off the first consignment of goods comprising Jewellery products from India to UAE.

The agreement is expected to escalate the total value of bilateral trade in goods and trade in services to over US $100 billion and US $15 billion respectively, within five years.

Narayan Rane inaugurates Maharashtra MSME Expo 2022 in Mumbai

Narayan Rane (Union Minister for MSME) has inaugurated the Maharashtra MSME Expo 2022 in Mumbai.

The MSME sector contributes 50% of the country's total exports and 30% to economic growth.

MSME will set up 37 clusters in Maharashtra in the next two years.

During an event, he also launched the magazine 'Maharashtra MSME Achievers'.

The event was organized in collaboration with the MSME ministry and MSME Development Organization named "Zhep, Udyoginichi" and "We MSME".

Indian Army set up coaching centre for underprivileged students

Red Shield Division of the Indian Army has signed an MoU with the State Bank of India Foundation (SIBF) and training partner National Integrity and Educational Development Organization (NIEDO) to establish a Centre for Excellence and wellness.

The project is named Manipur Super 50 and will be fully functional for the first batch of 50 students by the first week of July 2022.

Aim: To provide residential coaching for competitive examinations including the NEET and JEE.

India clinches silver in Asian Girls Youth Beach Handball Champion

India has won a silver medal at the second Asian Girls Youth Beach Handball Championship, held in Bangkok.

The team of Indian girls has defeated Hong Kong.

India was represented by Anushka Chauhan, Jassi, Sanjana Kumari, Chetna Devi, Vanshika Mehta, and Isha Majumdar.

With this medal, the team also earned a spot in the World Youth Beach Handball Championship.

The senior women's team has finished with a bronze.

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.