Latest Current Affairs For Friday 1st July, 2022

PESB selected Sandeep Kumar Gupta as a next chairman of GAIL

The Public Enterprises Selection Board (PESB) has selected Sandeep Kumar Gupta as the head of India's largest gas utility GAIL (India) Ltd.

He will replace Manoj Jain, who will be retired on August 31, 2022.

He has more than 31 years of working experience at Indian Oil Corporation (IOC).

He is working as a Director (Finance) of IOC since August 3, 2019.

If his appointment approved by ACC, then he will hold the office till February 2026.

GAIL HQ: New Delhi

International Asteroid Day: 30th June

World Asteroid Day is observed annually on June 30 to raise the awareness about the asteroid hazardous impact.

In December 2016, UNGA has adopted resolution A/RES/71/90 to declare 30 June International Asteroid Day.

This day marked the anniversary of the Tunguska impact over Siberia, Russian Federation, on 30 June 1908.

The General Assembly’s decision was made based on a proposal by the Association of Space Explorers.

The Centralized Pay System, PADMA for Indian Coast Guard launched

Rajnish Kumar, Controller General of Defence Accounts (CGDA), Ministry of Defence has launched the Pay Roll Automation for Disbursement of Monthly Allowances (PADMA).

PADMA is an automated Pay & Allowances module for the Indian Coast Guard.

It is developed under the aegis of Defense Accounts Department.

It will be operated by Pay Accounts Office Coast Guard, Noida.

ICG Director General: Virender Singh Pathania

Founded: 1 February 1977

SEBI imposes monetary penalty of ₹7 cr on NSE

The Securities and Exchange Board of India has imposed a penalty of 7 crore on the National Stock Exchange (NSE) and 5 crore on Chitra Ramkrishna (former CEO of the exchange) in the dark fibre case.

The market regulator has also penalized Anand Subramanian (former group operating officer) and Ravi Varanasi (current CBD officer), 5 crore each.

Sampark Infotainment, Way2Wealth Brokers and GKN Securities have been fined 3 crore, 6 crore and 5 crore, respectively.

Odisha govt wins first prize in 2022 National MSME Award

Odisha's MSME Department has been awarded first prize in the category “National MSME Award 2022" to States/UTs for their outstanding contribution in the promotion and Development of MSME Sector.

Bihar and Haryana have been placed second and third respectively.

Kalahandi, Odisha won third prize in the category of Aspirational districts for outstanding contribution in the promotion and development of MSME Sector.

Union Minister Arjun Munda launches GOAL 2.0 programme in New Delhi

Union Minister of Tribal Affairs, Arjun Munda has launched the second phase of the Going Online As Leaders (GOAL) Programme in New Delhi.

The GOAL 1.0 has changed the lives of tribal youth through the digital mentorship programme.

This programme will also create a platform for Self-Help Groups and ten lakh families associated with TRIFED to take their products global.

Aim: To digitally upskill the youth from tribal communities of the country.

Japan's Renesas partners with Tata Motors to develop chip solutions

Japanese chipmaker, Renesas Electronics Corp has joined hands with Tata Motors, formed a strategic partnership to design, develop and manufacture semiconductor solutions for domestic and global markets.

Renesas will also work with Tejas Networks (subsidiary of Tata Group company) on wireless network solutions including 5G.

In March 2022, the next-generation EV Innovation Center (NEVIC) was jointly set up by the Renesas and Tata Elxsi (Tata Group).

Telangana government inaugurates T-Hub 2.0, innovation centre in Hyderabad

Telangana CM, K Chandrashekhar Rao has inaugurated the T-Hub 2.0, nation's leading innovation and startup catalyst.

This facility will support over 2000 startups under one roof, with a total built-up area of 5,82,689 sq. ft, making it the world’s largest innovation campus.

With the help of this hub, young Indians launch their startups with a collaborative innovation ecosystem.

Recently, Telangana has been placed among top-10 global ecosystems for 'affordable talent'.

NASA launches CAPSTONE to evaluate new orbit for Artemis Moon Missions

The first step of NASA’s CubeSat mission to the Moon has been successfully completed in space.

It was built to test a novel lunar orbit.

The Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment (CAPSTONE) mission has been launched on Rocket Lab’s Electron rocket from the Rocket Lab Launch Complex, New Zealand.

CAPSTONE is currently in low orbit of Earth and will take four months to reach its targeted lunar orbit. 

Airtel Payments Bank partners Axis Bank to digitise the cash collection

Airtel Payments Bank has joined hands with Axis Bank to digitize the cash collection system.

Region: India's tier III cities and semi-urban regions.

Benefits:

Axis Bank to build operational efficiencies in the cash management process, speed up the payment cycle. 

It helps in releasing the bandwidth of field agents who operate across the country.

Agents can deposit the amount at any Airtel Payments Bank outlet, amount will be transferred to the Axis Bank accounts.

NITI Aayog launches report on Future Penetration of Electric Two-Wheelers

NITI Aayog and TIFAC have launched a report titled ‘Forecasting Penetration of Electric Two-Wheelers in India’.

Total eight scenarios have been for analyzing the future penetration of electric two-wheelers in the country.

Optimistic scenario Forecasts: 100% penetration of electric two-wheelers in the Indian market by FY 2026–27.

TIFAC, is an autonomous organization set up in 1988 under the Department of Science & Technology.

ISRO to launch rocket PSLV-C53, carrying three Singapore satellites

Indian Space Research Organization (ISRO) is ready to launch the rocket PSLV-C53 with three Singapore satellites on 30th June, from the Satish Dhawan Space Centre at Sriharikota.

PSLV-C53, is the second dedicated commercial mission of the NewSpace India Limited, Department of Space.

Primary payloads: 365 kg earth observation satellite called DS-EO, a 155 kg NeuSAR satellite and the 2.8 kg Scoob-1 nano-satellite of the Nanyang Technological University, Singapore.

India successfully tests high-speed expendable aerial target Abhyas

India has successfully tested the indigenously developed, high-speed expendable aerial target (HEAT), 'ABHYAS' from the Integrated Test Range in Chandipur, Odisha.

It can be used as an aerial target for evaluating various missile systems.

It is developed and designed by Aeronautical Development Establishment, Defence Research and Development Organisation (DRDO).

ABHYAS has been programmed for fully autonomous flight.

DRDO chairman: G. Satheesh Reddy;

HQ: New Delhi

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.