Latest Current Affairs For Thursday 5th May, 2022

Times Higher Education Impact Rankings 2022 released

The Times Higher Education (THE) has released the 2022 edition of its Impact Rankings.

8 Universities from India are placed in the top 300 universities in the world.

The ranking is topped by Western Sydney University (Australia); followed by Arizona State University (The US), Western University (Canada).

In India: Amrita Vishwa Vidyapeetham (41st), Lovely Professional University (74th).

The Times Higher Education (THE) also publishes THE World University Rankings.

IRDAI raised investment up to 30% of assets in BFSI sector

The Insurance Regulatory and Development Authority of India (Irdai) has increased the investment ceiling for insurance companies in the banking, financial services, and insurance (BFSI) sector to 30% from 25% of their investment corpus.

The existing sectoral investment cap of 25% has been fully utilised by most insurance firms.

This will help insurance companies to take a higher exposure in the BFSI sector.

IRDAI Chairperson: Debasish Panda

FidyPay ties-up with Yes Bank to push financial inclusion

FidyPay (fintech API platform) has joined hands with Yes Bank to expand the digital facility to a wide range of enterprises, including SMEs, fintech companies, and start-ups.

The fintech platform will provide Yes Bank customers with a smooth connected banking experience as part of the partnership.

FidyPay will also serve as UPI services solution provider.

FidyPay is backed by Mr. Pratekk Agarwal (the former CBO of BharatPe) and Mr. Ram Pathade (CEO of Mahagram).

DBS Bank joins Headstart and Anthill to support startups

DBS Bank India has partnered with Anthill Ventures (startup venture capital fund) and Headstart Network Foundation (evangelist network) to launch DBS Business Class foundED.

This forum will help modern-day founders, innovators, and game-changers to foster co-innovation and collaboration in the startup ecosystem.

The first event of DBS BusinessClass foundED was held in Hyderabad with actor Rana Daggubati.

HDFC ERGO launches 'Pay as you Drive’ program

HDFC ERGO General Insurance Company has announced to launch of its ‘Pay as you Drive’ program, this insurance offers distance-based insurance to reduce upfront costs of premium.

The program will be available for owners of new Maruti Suzuki cars in selected cities up to May 14, 2022.

This program is applicable for 10,000 policies or ₹50 lacs of premium whichever happens earlier.

The driving distance will be measured with the help of a telematics device in the vehicle.

HDFC Life becomes signatory to United Nations

HDFC Life has signed up for the UN-supported Principles for Responsible Investment (PRI) with the objective of sustainable growth and long term value creation.

The Company currently has Assets Under Management of over Rs. 2 lakh crores.

The company focuses on better understanding the investment implications of environmental, social, and governance (ESG) factors.

Principles for Responsible Investment(PRI) was founded in 2005. 

MD and CEO of HDFC Life: Vibha Padalkar

Exercises Defender Europe 2022 and Swift Response 2022 begin

The United States Armed Forces has organised the DEFENDER-Europe 22 exercise to build preparedness and interoperability between Allies and partners of the USA and NATO.

Poland is one of the DE22 host countries and conduct training in Drawsko Pomorskie, Bemowo Piskie and Zagan.

Apart from Polish troops, the forces from the USA, France, Sweden, Germany, Denmark and Great Britain will also participate. 

The exercises are scheduled to run from May 1-27.

Sangeeta Singh gets an additional charge of CBDT Chairman

Sangeeta Singh, an Indian Revenue Service (IRS) officer has been given additional charge of Chairman, Central Board of Direct Taxes (CBDT) for a period of three months or till a regular Chairman is appointed.

She has replaced JB Mohapatra who retired as the head of the direct taxes administration body on April 30.

She is currently holding charge of Audit and Judicial and an additional charge of Income Tax and Revenue and Tax Payers services.

Chhattisgarh launches doorstep delivery Mukhyamantri Mitaan Yojana

Chhattisgarh Chief Minister Bhupesh Baghel has launched a doorstep delivery scheme named Mukhyamantri Mitaan Yojna (Mitaan stands for a friend).

The scheme will be implemented as a pilot project in 14 civic bodies.

Citizens of Chhattisgarh can avail around 100 public services, including delivery of birth, caste, income and marriage certificates, at their doorstep under a new scheme launched by the state government.

First International Research Conference On Insolvency And Bankruptcy

The first International Research Conference on Insolvency and Bankruptcy was organised by the Insolvency and Bankruptcy Board of India (IBBI) in association with the Indian Institute of Management Ahmedabad (IIMA).

Rao Inderjit Singh (Minister of State for Statistics and Programme Implementation) has highlighted the journey of the Insolvency and Bankruptcy Code (IBC), 2016.

Chairperson of IBBI: Dr. Navrang Saini

RSF 2022 World Press Freedom Index released

Reporters Without Borders (RSF) has released the 20th World Press Freedom Index 2022, which assesses the state of journalism in 180 countries and territories.

Index topped by: Norway, Denmark, Sweden, Estonia, and Finland

India's neighbouring countries: India (150th, falls 8 positions), Pakistan (157th), Sri Lanka (146th), Bangladesh (162nd), and Maynmar(176th)

North Korea is placed at the bottom of the list of the180 countries.

World Press Freedom Day: 3 May

Jain University won the title of Khelo India University Games 2021

JAIN University(Deemed-to-be University) with 20 gold, 7 silver and 5 bronze medals has won the 2nd edition of the Khelo India University Games 2021.

Lovely Professional University (LPU) with 17 golds has placed second and Punjab University placed third with 15 gold medals.

Siva Sridhar has emerged as the star swimmer by winning 11 gold.

The closing ceremony of KIUG was held at Sri Kanteerava Outdoor Stadium, Bengaluru.

The mascot of KIUG 2021- Veera

Kerala lift the Santosh Trophy for seventh time

Kerala has defeated the 32-time champion West Bengal in a penalty shootout to win its 75th Santhosh Trophy National Tournament for the seventh time at the Payyanad Stadium in Malappuram, Kerala.

This is the first time that Kerala has won on home soil since 1993.

Player of the Tournament: Jijo Joseph (Midfielder, Kerala)

Top goalscorer: Jesin Tk. Thonikkara (Forward, Kerala), 9 goals

Best goalkeeper: Priyant Singh (West Bengal)

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.