Latest Current Affairs For Wednesday 8th June, 2022

Airtel Payments Bank offer gold loans in partnership with Muthoot Finance

Airtel Payments Bank has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app.

There will be no-processing charge on the loan.

Muthoot Finance will provide up to 75% of the pledged gold value as a loan.

The loan facility will be available at the 5 lakh banking points for Airtel Payments Bank.

Gold Loans are secured loans that can be availed to cater to a variety of needs, from personal to professional.

Instagram to launch AMBER alerts to help in finding missing children

Meta has announced that AMBER alerts will soon be rolled out to Instagram in 25 countries.

With the help of this alerts, users will get notifications of missing children in the area.

This feature was already available on Facebook and helped to find hundreds of children since it was introduced in 2015.

This was developed in partnership with the National Center for Missing & Exploited Children in US and International Centre for Missing & Exploited Children.

MS Dhoni becomes brand ambassador of Garuda Aerospace

Mahendra Singh Dhoni has invested an undisclosed amount in Garuda Aerospace, which is an Indian drone startup.

He has also appointed as a brand ambassador of this company.

Garuda Aerospace is among the four drone startups that had been selected by Swiggy for a pilot project which involve carrying out supply runs for its grocery service Instamart.

Garuda Aerospace was started in 2015.

Founder & CEO: Agnishwar Jayaprakash

Garuda Aerospace HQ: Chennai

Indian Railways awarded by the UIC International Sustainable Railway Awards

Indian Railways have been conferred with the UIC International Sustainable Railway Awards (ISRA) in the category of “Best use of Zero-Carbon Technology” for feeding Solar Energy directly to 25 KV AC Traction System.

Initiatives of Indian Railway to protect environment:-

Use of alternate fuels like CNG.

Improving water use efficiency through measures like water recycling and rain water harvesting.

World Food Safety Day 2022 : 7th June

The World Food Safety Day is observed annually on June 7 to raise awareness of the health hazards associated with unsafe food, and to highlight the significance of hygiene in daily life.

Theme 2022: ‘Safer food, better health’.

This day was marked by the United Nations General Assembly (UNGA) on December 20, 2018.

The  Food and Agriculture Organisation (FAO) and WHO jointly celebrate the observance of this day.

WHO Headquarters: Geneva, Switzerland

FAO HQ: Rome, Italy

RBI declares results of its First Global Hackathon - HARBINGER 2021

The Reserve Bank of India (RBI) had launched its first global hackathon – “HARBINGER 2021 – Innovation for Transformation”.

Theme of HARBINGER 2021: Smarter Digital Payments.

Tone Tag (brand of Naffa Innovations) has been declared the winner in two categories, first is 'Innovative, easy-to-use, non-mobile digital payment solutions' and second is 'Context-based retail payments to remove the physical act of payment'.

RBI releases provisioning norms for upper-layer NBFCs

The Reserve Bank of India (RBI) has released the provisioning guidelines for outstanding loans extended by 'NBFC-Upper Layer'.

These guidelines shall be effective from October 1, 2022.

Individual housing loans and loans to Small and Micro Enterprises (SMEs) : 0.25%

Housing loans extended at teaser rates: 2% (decrease to 0.4% after 1 year from the date on which the rates are raised.)

Advances to Commercial Real Estate- Residential Housing (CRE - RH) Sector : 0.75%

DAC clears proposals worth Rs 76,390 crore to boost ‘Aatmanirbhar Bharat’

Defence Acquisition Council (DAC) has accorded the Acceptance of Necessity (AoN) for Capital Acquisition Proposals of the Armed Forces amounting to Rs 76,390 crore.

This will give boost to the Indian Defence Industry and reduce foreign spending significantly.

The DAC meeting was headed by Defence Minister, Rajnath Singh.

Indian Army: Rough Terrain Fork Lift Trucks, Bridge Laying Tanks, Wheeled Armoured Fighting Vehicles.

Indian Navy: Next Generation Corvettes (NGC).

Multinational Peacekeeping 'Ex Khaan Quest 2022' begins in Mongolia

A multinational peacekeeping exercise, 'Ex Khaan Quest' 2022 has started in Mongolia.

16 countries are taking part in this exercise including India.

This exercise has been inaugurated by the President of Mongolia, Ukhnaagiin Khurelsukh.

Indian Army is represented by a contingent from the Ladakh Scouts.

Aim: Enhance interoperability, building military to military relationships, developing peace support operations and military readiness among participating nations.

Amazon, Manipur Handloom & Handicrafts Development Corporation sign MoU

Manipur Handloom & Handicrafts Development Corporation (MHHDC) has signed a pact with Amazon for providing an e-market platform for traditional handloom and handicraft items.

Both representatives, signed the MoU at the opening function of Manipur Heritage Expo, 2022.

As per the National Handloom Census Report, 2019, Manipur is a home of around 2.12 lakh handloom weavers, around 2.11 lakh looms and around two lakh handicraft artisans.

Manipur CM: N. Biren Singh

HM Amit Shah inaugurates National Tribal Research Institute in New Delhi

Home Minister, Amit Shah has inaugurated the National Tribal Research Institute (NTRI) in New Delhi as a part of 'Azadi Ka Amrit Mahotsav' celebration by the Ministry of Tribal Affairs.

NTRI will be a leading national institute for tribal concerns, issues and  executive and legislative fields. 

It will also monitor projects of Tribal Research Institutes and set up norms for improvement in the quality of research and training.

Minister of Tribal Affairs: Arjun Munda

FM Nirmala Sitharaman launches single nodal agency dashboard

Finance Minister, Nirmala Sitharaman has launched the Single Nodal Agency Dashboard during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav.

The Iconic Week of the Ministry of Finance and Ministry of Corporate Affairs was launched by PM Modi.

Aim of this dashboard: It also ensures about Centrally Sponsored Schemes fund utilization, tracking of funds, pragmatic and just-in-time release of funds to the States.

India successfully test-fired Nuclear-capable Agni-4 Ballistic Missile

India has successfully test- fired a nuclear-capable Agni-IV ballistic missile from APJ Abdul Kalam Island in Odisha.

Agni-IV can strike targets 4,000 km away.

This missile is the fourth in the Agni series of missiles which is earlier known as Agni II prime.

This missile was designed by the Defence Research and Development Organisation (DRDO) and manufactured by the Bharat Dynamics Limited.

Length of Agni IV: 20 metres

Mukesh Ambani surpasses Gautam Adani to become the Asia's Richest Man

Reliance Industries Limited Chairman and MD, Mukesh Ambani has regained the position of India as well as Asia's richest man after replacing Adani Group Chairman, Gautam Adani.

The net worth of Mukesh Ambani has risen to $99.7 billion, while Gautam Adani's net worth stood at $98.7 billion, according to Bloomberg Billionaire Index.

Mukesh Ambani is ranked the eighth richest person in the world as per the Bloomberg Billionaire index.

Kotak Investment Advisors launches 'Kotak Cherry

Kotak Mahindra Bank subsidiary, Kotak Investment Advisors has launched a one-stop investment solution provider named 'Kotak Cherry'.

Aims: Help investors in choosing from a wide array of offerings beyond the ones manufactured by Kotak group companies.

This platform is currently available for free with a 'do it yourself' offering for users, but they are also working on a subscription fee-based model.

Headquarters: Mumbai

India's digital payments market will be tripled to $10 trillion by 2026

According to the latest study which was conducted by digital payments firm PhonePe and Boston Consulting Group (BCG) states that India's digital payment market is expected to more than triple to $10 trillion by 2026.

Presently, 40% of all transactions in India are digital, and payments worth $3 trillion were processed by digital instruments in 2021.

India's UPI continues to grow, clocking $5.95 billion transactions worth Rs $10.41 lakh crore in May 2022.

OECD projected the Global plastic waste to be tripled by 2060

According to the Organisation for Economic Co-operation and Development (OECD) report, the global usage of plastic is set to increase by three times by the year 2060.

The world that is destroy by severe plastic pollution, has need to take up several measures to combat the the use of plastic.

Currently, nearly 100 million tonnes of plastic waste is either mismanaged or allowed to leak into the environment.

Tamil Nadu CM flags off luxury cruise “Empress”

Tamil Nadu CM, MK Stalin has flagged off the luxury cruise liner “Empress” from Chennai port.

This is the eleven-storey tourist vessel which can accommodate up to two thousand passengers and about 800 crew members.

The vessel has a swimming pool, children’s play area, gym, theatre and a multi-cuisine restaurant.

This is considered the first luxury cruise liner to be operated from the state.

Tamil Nadu Capital: Chennai

Tamil Nadu Governor: N. Ravi

ISRO chairman inaugurates spacecraft manufacturing facility in Karnataka

The chairman of Indian Space Research Organisation (ISRO), Dr S Somanath has inaugurated ANANTH Technologies’ spacecraft manufacturing unit at Karnataka Industrial Area Development Board (KIADB) Aerospace Park.

It can conduct assembly integration and testing of four large spacecraft simultaneously.

Ananth has contributed to the manufacturing of 89 satellites and 69 launch vehicles built/launched by ISRO.

Chairman and MD of ANANTH: Dr Subba Rao Pavuluri

Indian American Harini Logan wins 2022 Spelling Bee champion

Indian American girl, Harini Logan from Texas has won the 2022 Scripps National Spelling Bee.

She has spelled 21 words correctly to win the prestigious 2022 Scripps National Spelling Bee and defeated Vikram Raju in a marathon.

Prize money: USD 50,000 cash prize and Scripps Cup trophy on top of awards from Merriam-Webster and Encyclopedia Britannica.

She is the fifth Scripps champion to be coached by Grace Walters.

India-Bangladesh joint military exercise 'Sampriti-X' begins

India and Bangladesh has begun a joint military training exercise, 'Ex SAMPRITI-X' on June 5 at Jessore military station in Bangladesh.

This will continue till June 16 as part of bilateral defence cooperation.

Aim: At strengthening the aspects of interoperability and cooperation between both armies.

Indian contingent represented: Dogra regiment.

The armies of both nations will share expertise in counter-terrorism, humanitarian assistance and disaster relief.

A Manimekhalai appointed as a MD of Union Bank

A Manimekhalai has been appointed as a MD of Union Bank of India for the period of three years with effect from the date of assumption of office.

She has replaced Rajkiran Rai G, who retired on May 31 after a five-year stint.

She also becomes the first woman managing director of Union Bank of India.

Government has also appointed Swarup Kumar Saha as head of Punjab & Sind Bank.

He replaced S Krishnan, who also superannuated on May 31.

Rafael Nadal beats Casper Ruud to win his 14th French Open 2022

Rafael Nadal (Spain) wins his 14th title of the Men's French Open Championship at Roland Garros and 22nd Grand Slam title overall.

He defeated Casper Ruud by 6-3, 6-3, 6-0.

Iga Swiatek (Poland) has defeated Coco Gauff to win the Women's French Open 2022.

Men’s Doubles: Marcelo Arévalo (El Salvador) & Jean-Julien Rojer (Netherlands)

Women’s Doubles: Caroline Garci and Kristina Mladenovic (France)

Mixed Doubles: Ena Shibahara(Japan); Wesley Koolhof (Netherlands)

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.