Latest Current Affairs For Monday 20th June, 2022

Equitas Small Finance Bank to launch exclusive savings account for kids

Equitas Small Finance Bank has announced to launch an exclusive savings account for kids named as ‘ENJOI’.

Aim: Introducing young kids to the financial world and encourage them to develop the saving habit early.

It will allow kids of 0-18 years to open savings accounts under the supervision of their parents.

It will be launched on June 19 to coincide with Father’s Day.

Headquarters of Equitas Small Finance Bank: Chennai.

RBI 'Payments Vision 2025' seeks 3-fold jump in digital payments

RBI increase the number of digital payment transactions by more than 3X by 2025 and to curb volume of cheque-based payments to less than 0.25% of total retail payments. 

Core theme of vision documents: E-Payments for Everyone, Everywhere, Everytime (4Es). 

It covers 47 specific initiatives and 10 expected outcomes. 

It provide users with safe, secure, fast, convenient, accessible, and affordable e-payment options. 

It also envisages annualized growth of 50% for UPI payments. 

China launches third most advanced domestically built aircraft carrier ‘Fuj'

China has launched its third aircraft carrier named 'Fujian', which is the most advanced as well as the first fully domestically built naval vessel of China. 

Its launching ceremony was held at the Shanghai's Jiangnan Shipyard.

Fujian is the name of eastern coastal province of Fujian, China. 

China's first aircraft carrier, Liaoning, is so far the only Chinese aircraft carrier with the initial operational capability or the basic level of combat readiness.

India, Bangladesh to hold first physical Joint Consultative Commission Meet

India and Bangladesh will hold first physical Joint Consultative Commission Meeting in New Delhi. 

JCC meet will be co-chaired by External Affairs Minister S. Jaishankar and his Bangladesh counterpart A. K. Abdul Momen.

It will review the entire gamut of bilateral relations, including cooperation in the wake of COVID-19, border management and security, trade and investment, connectivity, energy, water resources, development partnership and regional-multilateral issues.

Agniveers to get 10% reservation in Defence, CAPF and Assam rifles job

Ministry of Home Affairs has decided to reserve 10% vacancies for recruitment in Central Armed Police Forces (CAPF) and Assam Rifles for Agniveers under Agnipath scheme. 

Ministry has also decided to give 3 years age relaxation beyond the prescribed upper age limit to Agniveers. 

Age relaxation will be for 5 years beyond for the first batch of agniveer. 

The scheme will not only empower, discipline & skill youth with military ethos in civil society. 

Manpreet Kaur, Parmjeet Kumar wins bronze medals in Asia Oceania Open

Indian para-powerlifters Manpreet Kaur and Parmjeet Kumar have won bronze medals in World Para-powerlifting 2022 Asia Oceania Open Championships at Pyeongtaek in South Korea. 

Manpreet Kaur (women’s category) won bronze medal in the 41 kg category and had the best lift of 88 kg and the total lift of 173 kg.

Parmjeet Kumar (men’s category) also won the bronze medal in 49 kg category and lifted 160 and 163 kilograms in two rounds which were his lifetime best lifts.

India beat Argentina in FIH Women's Hockey Pro-League Tournament

Indian women's hockey team has won FIH Women's Hockey Pro-League Tournament after defeating Argentina by four-goal to three.

In stipulated time both the teams scored three goals, but in the shoot-out, India strike two to one.

First match of the tournament was played at Rotterdam in the Netherlands.

Indian team is currently placed at the third position in the points table with 22 points in 10 games. 

Argentina team is at the top with 38 points in 14 matches.

India and EU re-launch negotiations for India-EU free trade agreement

India and European will be re-launching negotiations for India-EU Free Trade Agreement, after a gap of 9 years. 

Negotiations for an Investment Protection Agreement and GI Agreement has also been launched at a joint event at the EU headquarters in Brussels.

Among the most significant FTAs for India as the EU is its 2nd largest trading partner,

India-EU merchandise trade registered an all-time high value of 116.36 Billion dollars in 2021-22 with a year-on growth of 43.5%. 

Education Minister inaugurates National Yoga Olympiad 2022

Education Minister Dharmendra Pradhan has inaugurated National Yoga Olympiad 2022 and quiz competition in New Delhi.

It is being organized jointly by Ministry of Education and National Council of Educational Research and Training (NCERT). 

The Olympiad will be participated by about 600 students from 26 states and UTs and Demonstration Multipurpose Schools of Regional Institutions of Education. 

This year’s theme: Yoga For Humanity.

Justice RP Desai appointed as the Chairperson of Press Council of India

Former Supreme Court judge Justice Ranjana Prakash Desai (72-years) has been appointed as the Chairperson of Press Council of India. 

She succeeded former Supreme Court judge Justice CK Prasad, who held the office from 2014 to 2022.

She became the first women chairperson of Press Council of India. 

She was a judge of the Supreme Court from 2011 to 2014. 

She also headed the Delimitation Commission on J&K. 

PCI: statutory regulatory watchdog of the press, founded in 1966. 

India ranked 3rd in REN21’s renewables 2022 global status report

India ranked third in the REN21 Renewables 2022 Global Status Report (GSR 2022) globally. 

India’s total renewable power capacity additions in 2021 was 15.4 GW. 

Top performer of the report: China (136 GW) and US (43 GW)

India installed 843 MW of hydropower capacity in 2021, brings the overall capacity to 45.3 GW,

India was the 2nd-largest market for new solar PV capacity in Asia and for the first time, it surpassed Germany (59.2 GW) in total installations (60.4 GW).

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.