Latest Current Affairs For Friday 20th May, 2022

WCR develops battery-operated dual-mode locomotive ‘Navdoot’

West Central Railway has developed a battery-operated dual-mode locomotive named Navdoot. This engine runs on both modes i.e. battery and electricity. Currently, it is being used during the shunting of trains at Jabalpur, Mudwara, and other stations on a trial basis.

This Dual Mode Locomotive has also received the Best Innovation Award from the Railway Board. Railways will save 1000 litres of diesel every day with this new locomotive. After clearing all the trials, it will be used more widely.

About ‘Navdoot’:

This engine runs on both modes i.e. battery and electricity.

 This e-engine can pull 18 coaches at a speed of 30 kmph.

 It has 84 batteries and has a capacity to pull 400 tonnes at present.

 This has been developed by the Electric Department of New Katni Junction.

After clearing all the trials, it will be used more widely in other stations for purposes like carrying goods, coal, oil tankers etc.

World AIDS Vaccine Day Or HIV Vaccine Awareness Day 2022

World AIDS Vaccine Day is also known as HIV Vaccine Awareness Day (HVAD) is annually observed across the globe on the 18th of May to create awareness and provide information about Acquired Immuno Deficiency Syndrome (AIDS), a chronic, potentially life-threatening condition caused by the Human Immunodeficiency Virus (HIV) and its immunisation.

World AIDS Vaccine Day was conceptualised by the speech of former United States President Bill Clinton on 18th May 1997, at the Morgan State University, Maryland, the United States of America(USA). The first-ever World AIDS Vaccine Day or HIV Vaccine Awareness Day was observed on 18th May 1998, as a commemoration of U.S. President Bill Clinton’s 1997 declaration.

Union Minister Jitendra Singh Released E-book Civil List-2022 of IAS officers

Jitendra Singh, Union Minister of State(MoS), Ministry of Personnel, Public Grievances & Pensions released the e-book ‘Civil List – 2022 of IAS officers’ at North Block, Secretariat Building, New Delhi.

This is an effort by the Department of Personnel & Training (DoPT) as a part of the Digital India initiative of the Government of India. This is the 67th edition of the Civil List and the 2nd edition of the e-book in pdf with unique search facilities and hyperlinking of contents for ease of access of information.

This will support in selecting the right officer for the right assignment based on the available profile. This is also a vital source of information on the officers manning various posts for the general public.

HarperCollins India to publish Preeti Shenoy new novel, ‘A Place Called Home’

Bestselling author Preeti Shenoy is set to publish a new novel titled “A Place Called Home”, a story set in a coffee estate in Sakleshpur, Karnataka with a strong female protagonist at its core.

The new novel is about secrets, family, and finding yourself. The book published by HarperCollins Publishers India is set to be released in June 2022.

Preeti Shenoy has authored around 15 novels which include, The Magic Mindset, When Love Came Calling, Wake Up Life is Calling, Life is What You Make it, The Rule Breakers, and A Hundred Little Flames. Her works have also been translated into many Indian languages and also into Turkish.

Ajay Piramal receives Order of the British Empire award

Chairman of the Piramal Group, Ajay Piramal has received an Honorary Commander of the Order of the British Empire (CBE) by Her Majesty The Queen. He received the award for services to the UK-India trade relationship as India Co-Chair of the UK-India CEO Forum.

As co-chair of the India-UK CEO forum since 2016, the endeavour has been to help strengthen the strong bilateral relations between the two countries through greater economic cooperation.

A prominent national role of a lesser degree, a conspicuous leading role in regional affairs through achievement or service to the community, or a highly distinguished, innovative contribution in his or her area of activity. The award was Instituted in 1917 by King George V.

Panel of PM’s Office recommends urban job guarantee scheme

The Economic Advisory Council to the Prime Minister (EAC-PM) has recommended that the government implement a guaranteed employment programme for the unemployed in cities and implement a universal basic income (UBI) scheme to eliminate income gaps.

Citing the country’s uneven income distribution, the report also advocated raising the minimum wage and increasing government investment on the social sector to make vulnerable groups more resilient to shocks and prevent them from falling into poverty.

According to the report that is titled, “The State of Inequality in India”, given the disparity in labour force participation rates between rural and urban areas, the urban equivalent of demand-based and guaranteed employment programmes such as MGNREGS should be implemented so that surplus labour can be rehabilitated.

Rajnath Singh launches India-made warships, INS Surat and INS Udaygiri 

Defence minister Rajnath Singh has launched two made-in-India warships INS ‘Surat’ and ‘Udaygiri’ at the Mazagon Docks in Mumbai.

This is the first time that the two indigenously built warships have been launched together, the Mazgaon Dock Shipbuilders Ltd (MDL). Both warships have been designed in-house by the Directorate of Naval Design (DND) and built at MDL, Mumbai.

Indian Naval Ship (INS) Surat is the fourth destroyer in Project 15B which is named after the second-largest commercial hub of western India.

Indian Naval Ship (INS) Udaygiri, named after a mountain range in Andhra Pradesh, is the third ship of Project 17A Frigates. It is a follow to the P17 Frigates (Shivalik Class) with improved stealth features, advanced weapons and sensors and platform management systems.

S&P Cuts India’s Economic Growth Forecast To 7.3% For 2022-23

S&P Global Ratings cut India’s growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict.

S&P had in December last year pegged India’s GDP growth in 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent. For the next fiscal the growth has been pegged at 6.5 per cent.

In the aftermath of the Russia-Ukraine war and rising commodity prices, various global agencies have cut India’s growth forecast recently.

The World Bank in April slashed India’s GDP forecast for fiscal 2022-23 to 8 per cent from 8.7 per cent predicted earlier, while IMF has cut the projections to 8.2 per cent from 9 per cent.

Asian Development Bank (ADB) has projected India’s growth at 7.5 per cent, while the RBI, last month, cut its forecast to 7.2 per cent from 7.8 per cent amid volatile crude oil prices and supply chain disruptions due to the ongoing Russia-Ukraine war.

Patanjali Food Business will be acquired by Ruchi Soya for Rs. 690 crore

Ruchi Soya, an edible oil company, has announced that it will buy Patanjali Ayurved’s food division for Rs 690 crore. Ruchi Soya’s transition to the fast-moving consumer goods (FMCG) category is likely to be accelerated as a result of this.

After regulatory permissions, the name of Ruchi Soya Industries Ltd would be changed to Patanjali Foods Ltd. Ghee, honey, spices, juices, and wheat are among the 21 products in the acquired food industry. Ruchi Soya is India’s largest producer of edible oil. Patanjali Ayurved purchased it in 2019.

According to a survey issued by Deloitte Touche Tohmatsu, Ruchi Soya was rated 175 among the top 250 consumer products businesses in the Global Powers of the Consumer Products Industry 2012.

Bharti Airtel re-appoints Gopal Vittal as MD and CEO for 5 years

Bharti Airtel board has reappointed Gopal Vittal as Managing Director & CEO for a further period of five years ending on January 31, 2028.

The reappointment came on a day the telco posted a consolidated net profit at Rs 2,007.8 crore in the March quarter, up 141% sequentially and 164% on the year.

Analysts had an estimated net profit of around Rs 1,970 crore. This was Airtel’s sixth successive quarter in the black after six straight losses earlier.

For the India business, its revenue growth stood at 23 per cent during the fourth quarter, while mobile revenues rose 21 per cent on the back of an increase in Average Revenue Per User ARPU led by healthy flow-through of tariff revision and strong 4G customer additions during the year.

Important For All Exam 2022:

Bharti Airtel Founder: Sunil Bharti Mittal;

Bharti Airtel Founded: 7 July 1995, India.

After Pakistan shot SAARC in 2016, India will go bilateral

The future of SAARC seems bleak, with Sri Lanka, Pakistan, and Nepal in economic limbo, and Afghanistan under Islamist Taliban control. This leaves India with little choice but to engage in bilateral engagement with its neighbours in order to protect its national security.

Ironically, the Taliban in Afghanistan are currently embroiled in a simmering war with their tutor, the Pakistan Army, which refuses to recognise the Durand Line, which splits the Pashtun tribe between the two countries.

Pakistan Prime Minister Shahbaz Sharif is confronting a full-blown economic crisis and does not have a magic wand to miraculously address the country’s various problems, despite the fact that Imran Khan Niazi has been booted out of office, putting a stop to the political upheaval.

Afghanistan is ruled by a hardline Islamist Taliban administration eight years after the last summit, with a total budget of $2.6 billion for the current fiscal year.

The country is on the verge of famine and disease as the ISI-backed Haqqani Network, led by global terrorist Sirajuddin Haqqani, battles the Kandahar Taliban, led by Mullah Omar’s son Yaqub, for control of Kabul.

The country is on life support, with its primary international exports being terrorism and narcotics.

Supreme Court has ordered the release of Rajiv Gandhi’s assassination suspect

The Supreme Court used Article 142 of the Constitution to grant AG Perarivalan, a convict in the assassination of former Prime Minister Rajiv Gandhi, extraordinary powers to “do complete justice in any cause or matter pending before it.”

Perarivalan was released free by a bench of justices led by L.N. Rao and B.R. Gavai, who took into account his lengthy incarceration. Perarivalan spent 29 of his 32 years in prison in solitary confinement until being granted bail by the Supreme Court in March 2022.

He spent 16 years on execution row before the court remitted his sentence to life imprisonment in 2014. The court further noted that Perarivalan had filed his clemency plea under Article 161 with the Tamil Nadu Governor in 2015, and that the state cabinet had instructed the state’s chief executive to accept it in September 2018.

Ashwini Vaishnaw Opened NIELIT Center in Leh, Ladakh

Union Cabinet Minister of Electronics & Information Technology, Communications and Railways, Ashwini Vaishnaw has inaugurated the National Institute of Electronics and Information Technology (NIELIT) Centre Leh, Extension Centre Kargil and IT Enabled Incubation Centre for Handicraft and Handloom Sector.

Union Minister, Sh. Ashwini Vaishnaw, while inaugurating the NIELIT Centres at Leh, Kargil and Incubation Centre at Leh, reiterated the commitment of the Hon’ble Prime Minister for the development of UT of Ladakh.

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.