Latest Current Affairs For Tuesday 24th May, 2022

IFS Vivek Kumar appointed as PS to PM Modi

The appointment committee of the cabinet has approved the appointment of Vivek Kumar as the PS to Prime Minister Narendra Modi at joint secretary level.

He will take over as PM Modi’s private secretary from Sanjeev Kumar Singla.

Kumar has joined the PMO as a deputy secretary in 2014.

He is a BTech in chemical engineering from IIT Bombay and has served in diplomatic positions in Russia and Australia.

PhonePe will acquire WealthDesk, OpenQ for $70 mn

Walmart-owned digital payments firm PhonePe will acquire wealth management firms WealthDesk for about $50 million and OpenQ for around $20 million.

PhonePe confirmed about the deal related to WealthDesk and OpenQ, but didn’t reveal the value of the transaction.

PhonePe has applied to the Securities and Exchange Board of India (Sebi) for a mutual fund (MF) licence in 2021, joining rivals in the race to set up an asset management company (AMC).

IIT-Kanpur & CSIS, USA signs to create a global ‘just transition’ network

Just Transition Research Centre (JTRC) at Indian Institute of Technology (IIT) Kanpur has signed an agreement with the Energy Security and Climate Change Program at the Center for Strategic and International Studies (CSIS), Washington D.C., to work on just energy transition globally including in India.

Among Indian states, IIT- CSIS collaboration will engage with Jharkhand, Chhattisgarh, West Bengal, Madhya Pradesh, and Telangana.

Delhi govt inducts two robots in firefighting fleet

The Delhi Government has undertaken a unique initiative of using robots for extinguishing fires in the city.

These remote-controlled fire fighting robots will have greater accessibility to places and will be able to navigate narrow lanes, reach spaces inaccessible to humans and perform tasks too risky for people.

These robots will also be capable of releasing high water pressure at the rate of 2,400 litres per minute.

New Development bank to set up regional office in India

The New Development Bank (NDB) will open its first regional office in India at the Gujarat International Finance Tec-City (GIFT City) to cater to infrastructure and sustainable development needs of the country.

The Indian Regional Office (IRO) will be instrumental in enhancing NDB’s engagement with borrowers and stakeholders.

IRO expands our on-the-ground presence, contributing to preparing and implementing projects. 

Nobel winner Jose Ramos-Horta sworn in as East Timor president

Former independence fighter and Nobel Peace Prize laureate Jose Ramos-Horta was sworn in as president of East Timor.

He defeated incumbent Francisco “Lu Olo” Guterres (his fellow independence fighter) in election.

Ramos-Horta was prime minister from 2006 to 2007 and president from 2007 to 2012.

East Timor is marking the 20th anniversary of independence for Asia’s youngest country.

Capital: Dili

Currency: United States Dollar

Haryana win Hockey India Sub-Junior Women National Championship in Imphal

Haryana Hockey team has emerged as the winners of the Hockey India sub-junior women's national Championship 2022 after defeating Hockey Jharkhand by 2-0 in the final in Imphal.

Uttar Pradesh Hockey has defeated Madhya Pradesh Hockey by 3-0 to secure third place in the tournament.

Pushpanjali Sonkar, Manisha Patel, and Purnima Yadav scored a goal each to help Uttar Pradesh Hockey seal third place in the competition for the second consecutive time.

Manchester City crowned 2021/22 Premier League champions

Manchester City (Football) have been crowned 2021/22 Premier League champions their fourth title success in the last five seasons.

Manchester City win over Aston Villa in the final game of the season.

In Manchester City’s 38 league matches this season, they have won 29, drawn six, and lost three, scoring 99 goals in the process.

City have now won four Premier League titles and eight major trophies under Pep Guardiola since his arrival in the summer of 2016.

Indian and Bangladesh Navies started Coordinated Patrol in Bay of Bengal

4th edition Indian and Bangladesh Navies has commenced two-day Coordinated Patrol (CORPAT) in Northern Bay of Bengal.

Indian Navy: Two indigenously built Ships - Kora (a guided-missile corvette) and Sumedha (an offshore patrol vessel) are participating in the exercise.

Bangladesh: Navy Ships BNS Ali Haider and BNS Abu Ubaidah are taking part in the coordinated patrol exercise.

Both navies of Maritime Patrol Aircraft will also participate.

WHO honours ASHA workers for contribution to advancing global health

World Health Organisation (WHO) awarded and honoured to India's one million all-women Accredited Social Health Activist (ASHA) workers for their 'outstanding' contribution to advancing global health, demonstrated leadership and commitment to regional health issues.

ASHAs workers worked to provide maternal care and immunization for children against vaccine-preventable diseases; community health care; treatment for hypertension and tuberculosis.

Labor Party’s Anthony Albanese sworn-in as the new PM of Australia

Labour Party leader Anthony Albanese was sworn in as Australia's 31st Prime Minister with four key Cabinet members, including new Foreign Minister Penny Wong.

Richard Marles is the new Deputy Prime Minister and Employment Minister, Jim Chalmers is Treasurer, and Katy Gallagher is Attorney General and Finance Minister.

It is Australia's first Labour Government in almost a decade.

Capital: Canberra 

Currency: Australian dollar

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.