Latest Current Affairs For Thursday 14th July, 2022

Retail inflation of India eases to 7.01%

As per the data released by the Ministry of Statistics and Programme Implementation (MoSPI), retail inflation of India has eased marginally to 7.01% in June 2022 from 7.04% in May 2022.

The CPI inflation has breached the upper limit of RBI's tolerance band (2-6%) for the sixth consecutive month.

The India's Index of Industrial Production (IIP) has surged 19.6% in May, as against 7.1% rise in April 2022.

The Retail inflation measured by the Consumer Price Index.

Ola unveils India’s first indigenously made lithium ion-cell

Ola Electric has unveiled India's first indigenously developed lithium ion cell.

The company will begin mass production of the cell (NMC 2170) from its Chennai-based Gigafactory by 2023.

The company was recently allocated 20GWh capacity under the ACC PLI scheme by the govt for developing advanced cells in India.

The Ola Electric had launched its first electric vehicle in August 2021 and has also set up the world's largest two-wheeler manufacturing facility in India.

Shinzo Abe awarded posthumously highest order of Japan

The Japanese government has decided to award former Prime Minister Shinzo Abe with the highest order of Japan, the Supreme Order of the Chrysanthemum posthumously.

Shinzo Abe was the longest-serving PM of Japan and he will be the fourth former prime minister to receive the decoration under the postwar Constitution.

He was conferred with the Padma Vibhushan (2021) for "exceptional and distinguished service" in the field of public affairs.

IRDAI constitutes two task forces on issues of reinsurance support

The IRDAI has formed two task forces to study the issues of non-life and life insurance industries face in reinsurance support.

Reinsurance support: It refers to insurance companies transferring a part of the risk they underwrite to other firms.

Task force:

Non-life insurance: Headed by Bhargav Dasgupta (MD&CEO, ICICI Lombard General Insurance); Nine members

Life insurance: Headed by Naveen Tahilyani (MD&CEO, TATA AIA Life Insurance; seven-members

TATA AIA partners with City Union Bank for life and health Insurance

Tata AIA Life Insurance Co. Ltd has joined hands to create a strategic alliance with City Union Bank.

Aim: To offer life and health insurance solutions to the Bank’s consumers.

With the help of this partnership, the City Union Bank consumers (existing and new) will get benefit from Tata AIA Life’s diverse and innovative products and services spanning term insurance, savings and investment, and health.

City Union Bank HQ: Kumbakonam, Thanjavur District of Tamil Nadu.

SBI subsidiary, MEA sign MoU for Trilateral Development Cooperation Fund

SBICAP Ventures Limited has signed a MoU with the Ministry of External Affairs for establishing the Trilateral Development Cooperation Fund (TDC Fund).

The TDC Fund helps to route the India's commitment of approx. Rs.175 cr. to the Global Innovation Development Fund (GIP Fund).

The UK and India have partnered to launch the GIP and the Trilateral Development Corporation fund.

MD & CEO, SVL: Suresh Kozhikote

Minister of External Affairs: Dr. Subrahmanyam Jaishankar

Renowned archaeologist Enamul Haque passes away

Eminent archaeologist and historian, Dr. Enamul Haque has been passed away in Dhaka at 85.

He became the director of the museum in 1973 and served as director general of National Museum from 1983 to 1991.

He was conferred with Padma Shri in 2020 for his work on Bengal’s Iconography and terracotta art.

He was awarded the Ekushey Padak in 2016 and the highest civilian award of Bangladesh Swadhinta Padak in 2020.

Meghalaya to invest Rs 300 crore in early childhood education programmes

Chief Minister of Meghalaya, Conrad K Sangma has inaugurated the new building of the Directorate of Education Research and Training (DERT), Shillong.

During the ceremony, he has announced that govt has set aside Rs 300 crore from the externally aided projects to make investment in early childhood education programmes.

The state govt has also prepared a road map to invest in early childhood education programmes.

Meghalaya Governor: Satya Pal Malik

Jonny Bairstow, Marizanne Kapp named ICC Player of the Month for June 2022

The International Cricket Council (ICC) has named the Player of the June 2022.

Men’s Player: Batter, Jonny Bairstow (England)

Women’s Player:  Batter, Marizanne Kapp (South Africa)

Jonny Bairstow has received this title after his remarkable performances against New Zealand in May 2022.

Marizanne Kapp has become the second ICC Women’s Player of the Month from South Africa after Lizelle Lee, who was crowned in March 2021.

ICC HQ: Dubai, United Arab Emirates

Delhi Govt partners with UNICEF for employment opportunities to students

The Delhi government joined hands with the UNICEF to create employment opportunities for students of the Delhi Skill and Entrepreneurship University (DSEU).

Skill Varsity of Delhi partnered with YuWaah (Generation Unlimited India) at UNICEF to enable access to employment opportunities.

Another pillar, the 'YuWaah Step Up - Bano job ready', it is a six-month pilot being conducted by Flywheel Digital Solutions Pvt with DSEU students.

UNICEF HQ: New York, United States

Bhagwani Devi from India wins gold medal in 100m sprint in Finland

Bhagwani Devi Dagar (94 years) has won gold in the 100m sprint at the 2022 World Masters Athletics Championships in Tampere, Finland.

She has clocked 24.74 seconds in the 100m sprint and also clinched the bronze medal in the shot put.

She hails from Khidka village in Haryana.

The World Masters Athletics Championships is an event for athletics (track and field) for athletes aged 35 years and over.

Ministry of Youth Affairs & Sports: Anurag Thakur

Meena Hemchandra appointed as part-time chairman of Karur Vysya Bank

The Reserve Bank of India has approved the appointment of former RBI executive, Meena Hemchandra as part-time chairman of the Karur Vysya Bank for three years.

Previously, she worked as an additional director under Independent Category of the bank.

She worked as Executive Director of RBI from June 2015 to November 2017 and served as secretary to the Board of Note Mudran for four years.

Karur Vysya Bank:

HQ: Karur, Tamil Nadu

MD and CEO: B. Ramesh Babu

Brajesh Kumar Upadhyay appointed as new chief of Goa Shipyard Limited

The Appointments Committee of the Cabinet has approved the appointment of Brajesh Kumar Upadhyay as the Chairman & Managing Director of Goa Shipyard Limited (GSL) for a period of five years, with effect from 10th July 2022.

Earlier, he was serving as the Director of Operations within the company (GSL).

He will be responsible for the efficient functioning of the company for achieving its corporate objectives.

Goa Shipyard Limited:

Founded: 1957

Headquarters: Goa

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.