Latest Current Affairs For Saturday 2nd July, 2022

Max Life launches Insta confirmation of insurance (Insta-COI)+

Max Life Insurance Company Ltd has launched a smart solution, ‘Insta confirmation of insurance (Insta-COI)’+, to customers buying the ‘Max Life Smart Fixed-return Digital Plan’.

This is a non-linked, non-participating, individual life insurance savings plan on Max Life website or Policybazaar platform.

It enables intimation to the customer regarding the commencement of the risk cover pending release of the policy contract ensuring a quick and hassle-free onboarding.

ICICIDirect launches learning app to teach finance, investment to Indians

ICICI Securities has launched a learning app named ‘ICICIdirect iLearn’ with an aim to provide customers with easy access to learning  financial products and market topics.

This will help customers with this app to better assist them in their investment journey.

Currently, the app hosts more than 550 plus content pieces across various sections.

The app content will be updated on regular intervals on different topics.

Eoin Morgan announced his retirement from international cricket

The captain of England’s men’s white-ball team, Eoin Morgan has announced his retirement from international cricket.

Under his captaincy, England Men has clinched their first-ever ICC Men’s Cricket World Cup trophy at Lord’s in 2019.

He has also competed for England in the 2010 ICC Men’s T20 Cricket World Cup, which was held in the Caribbean.

He has scored the most runs for England Men overall and has received the most caps in all ODI and T20I games.

PM Narendra Modi participates Udyami Bharat programme

PM Narendra Modi has participated in the ‘Udyami Bharat’ programme and launched various key initiatives to ramp up the MSME sector.

Initiatives:

1) Raising and Accelerating MSME Performance: Aims to scale up the implementation capacity and coverage of MSMEs

2) Capacity Building of First-Time MSME Exporters: To encourage MSMEs to offer goods and services of international standards for the global market.

3) Prime Minister’s Employment Generation Programme

World Bank approves $1 Billion to support India’s Health Sector

The World Bank has approved two complementary loans of $500 million each to enhance and support India’s health sector.

This $1 Billion financing will support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM).

This scheme was launched in October 2021.

Aim of scheme: To improve the public healthcare infrastructure across the country.

Loan prioritize statesAndhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and UP.

CCI approves Google’s proposed stake buy in Bharti Airtel

The Competition Commission of India (CCI) has approved Google International LLC’s proposed acquisition of a minority and non-controlling stake of 1.28% of equity capital of Bharti Airtel Limited (target).

Along with this investment agreement, both companies have also entered into certain commercial deals through their affiliates.

Google International LLC is a wholly-owned subsidiary of Google LLC, latter is a wholly-owned subsidiary of Alphabet Inc.

FM Nirmala Sitharaman releases the Business Reform Action 2020 in New Delhi

Finance Minister, Nirmala Sitharaman has released the Business Reform Action Plan (BRAP)- 2020 in New Delhi.

Top Achievers: Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Telangana and Tamil Nadu.

Achievers category: Himachal Pradesh, Madhya Pradesh, Maharashtra, Odisha, Uttarakhand and Uttar Pradesh. 

Aspirers category: Assam, Chhattisgarh, Goa, Jharkhand, Kerala, Rajasthan and West Bengal.

Adani Sportsline become the principal sponsor of Indian Olympic Association

Adani Sports line has become the principal sponsor with the Indian Olympics Association (IOA) for the upcoming games, Birmingham Commonwealth 2022, Hangzhou Asian Games 2022, and Paris Olympic 2024.

This is the second time that the Adani Group has collaborated with IOA after the Tokyo Olympics.

Over 28 athletes have been supported by the Adani Sportsline's athlete support initiative, #GarvHai, across a variety of sports.

National Doctor’s Day 2022: 1st July

National Doctors’ Day has observed annually on July 1 in India by the Indian Medical Association (IMA), to highlights the contributions of doctors in society.

Theme 2022: “Family Doctors on the Front Line."

First time, this day celebrated in 1991 on July 1 to honour Dr Bidhan Chandra Roy, whose birth and death anniversary, both fall on July 1.

B C Roy has also become the Chief Minister of West Bengal from 1948 till his death in 1962.

Ban on Single Use Plastic comes into force in the country from July 1, 2022

The government of India has banned the single-use plastic from July 1, 2022.

As per the notification on August 12, 2021, the government has prohibited the manufacture, import, stocking, distribution, sale, and use of all identified single-use plastic items, which have low utility and high littering potential with effect from July 1, 2022.

Currently, Polyethylene terephthalate (PET) bottles do not fall under this category.

Ministry of Environment: Bhupender Yadav. 

Neeraj Chopra clinches Silver medal at prestigious Diamond League meet

Javelin thrower, Neeraj Chopra has clinched silver medal with a massive throw of 89.94 meter, at the prestigious Diamond League meet in Stockholm.

He broke his own national record (89.30m) for the second time in a month.

Anderson Peters (Grenadian athlete) won gold medal with a best throw of 90.31 meter.

Earlier, he clinched silver at Paavo Nurmi Games in Turku (Finland).

Neeraj Chopra is the first Indian to win a gold medal in athletics at the Olympics (Tokyo).

Eknath Shinde sworn-in as the new Chief Minister of Maharashtra

Governor, Bhagat Singh Koshyari has administered the oath of office to Eknath Shinde as the 20th Chief Minister of Maharashtra.

BJP leader, Devendra Fadnavis was sworn-in as Deputy Chief Minister of the state.

Devendra Fadnavis had served as the CM of Maharashtra from 2014-19.

Shinde has served as the urban development minister in the previous Maha Vikas Aghadi government.

Maharashtra Vidhan Sabha - 288 seats; Lok Sabha - 48 seats; Rajya Sabha - 19 seats. 

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.