Latest Current Affairs For Friday 15th July, 2022

Himachal Governor Rajendra Vishwanath unveils book titled The McMahon line

Governor of Himachal Pradesh, Rajendra Vishwanath Arlekar has released a book titled, “The McMahon line: A century of discord”.

This book is authored by former Governor of Arunachal Pradesh and former Chief of Army Staff General JJ Singh (Retd).

The book is based on the experiences and research on the India-China border dispute.

The book had laid emphasis on politics, history, structure and geography of the McMahon line.

Noted social worker, Avdhash Kaushal passes away

Noted social worker and Padma Shri awardee Avdhash Kaushal has passed away at 84.

He founded the Rural Litigation and Entitlement Kendra (RLEK) for the development work among tribal hill communities in the areas of Jaunsar-Bawar (Dehradun district).

He led various initiatives including protecting the fragile eco-system of Doon valley, abolition of the bonded labour system in Jaunsar-Bawar area of Dehradun and securing the rights of marginalised communities.

Madhulika Bhaskar gets additional charge as NIACL CMD for three months

The New India Assurance Company Ltd (NIACL) has given additional charge as CMD to General Manager, Madhulika Bhaskar for a period of three months or till a regular appointment to the post is done, with immediate effect.

She has replaced Atul Sahai, whose tenure had ended on February 28, 2022 following his superannuation.

NIACL

HQ: Mumbai

Founders: Dorabji Tata

Founded: 1919

It was nationalised in 1973.

It is under the ownership of Ministry of Finance

Nomura cuts 2023 GDP forecast for Indian to 4.7%

Nomura has cut its 2023 forecast for economic growth in India to 4.7% from its earlier projection of 5.4% amid recession fears and rising interest rates.

Reason: Higher inflation, monetary policy tightening, dormant private capex growth, the power crunch and the global growth slowdown.

Retail inflation rate of India - the CPI has been recorded 7.01% as compare to 7.04% in May, the sixth consecutive month that the CPI inflation has remained above RBI set limit.

Arohan Financial Services launches digital lending app

NBFC-MFI Arohan Financial Services has launched a digital lending app named 'ApnaArohan' for its existing customers.

This app will help its customers make repayments and other transactions through the digital mode.

It reduces the physical interaction with the loan officers of the MFI.

The AI-powered app will help to increase the outstanding portfolio from ₹4,500 crore (June 2022) to around ₹5,100 crore by the end FY23.

Arohan MD: Manoj Kumar Nambiar

Star Health joins hands with MeitY to reach rural markets

Star Health and Allied Insurance Co. Ltd. has partnered with the Common Services Centres (CSC), under the Ministry of Electronics and Information Technology.

Aim: To provide over 5 lakh CSCs access to a select range of Star Health insurance products and increase the health insurance penetration in rural India.

The products have been designed to meet the needs of rural customers across the tier-II, tier-III cities, and rural markets pan India.

MD Star Health: Anand Roy

Uttarakhand becomes first state to implement NEP at pre-primary level

Uttarakhand has become the first state in the nation to initiate the process of implementing the Centre’s New Education Policy 2020 with the launch of ‘Bal Vatikas’ at anganwadi kendras.

Chief Minister, Pushkar Singh Dhami has inaugurated Bal Vatikas across the state to strengthen the pre-primary education system.

This will function at 4,457 anganwadi kendras in the state and will be equivalent to the nursery classes at a private school.

RBL Bank and IMGC tie up for mortgage guarantee-backed home loans

India Mortgage Guarantee Corporation (IMGC) has signed a strategic partnership with RBL Bank to offer mortgage guarantee-backed home loan products to salaried and non-salaried customers.

This partnership will help RBL Bank to extend the mortgage guarantee-backed home loans to new borrower segments through the bank’s network.

It also help to create a conducive lending environment by ensuring timely disbursal of housing credit and longer tenure to customers

Delhi LG launches scheme to reward RWAs for property tax compliance

LG of Delhi, VK Saxena has launched a SAH-BHAGITA scheme to increase the involvement of the Residential Welfare Association (RWAs) in optimal tax collection and waste management systems.

RWAs will get 15% of the total collection of property tax for development works in their areas.

On achieving 90% tax collection from their societies, the RWA can recommend development work to the tune of 10% of the tax collection subject to a ceiling of Rs 1 lakh in their areas.

Former New Zealand cricket captain Barry Sinclair passes away

Former New Zealand cricket captain and batter Barry Sinclair has passed away at the age of 85.

He was the third batter from New Zealand after Bert Sutcliffe and John R Reid to score 1,000 runs in Test cricket.

He had played 21 Tests for New Zealand between 1963 - 1968, scored 1148 runs, including three centuries against South Africa, Pakistan and England.

Biography: In Pursuit of Excellence: The Barry Sinclair Story written by Bill Francis (Auckland broadcaster)

WEF released the Global Gender Gap Index for 2022

The World Economic Forum has released the Global Gender Gap Index for 2022 in which India ranked at 135 out of 146 countries.

India was ranked 140 out of 156 countries in 2021.

Top 10: Iceland, Finland, Norway, New Zealand, Sweden, Rwanda, Nicaragua, Namibia, Ireland, Germany.

Worst performing: Afghanistan (146), Pakistan (145), Congo (144), Iran (143)

India's neighbouring countries: Bangladesh (71), Nepal (96), Sri Lanka (110), Maldives (117) and Bhutan (126)

PM Modi participates in first-ever I2U2 Summit virtually

PM Modi participates in the first-ever I2U2 (India-Israel-UAE-USA) Leaders’ Summit Virtually.

The summit will be attended by his Israeli counterpart Yair Lapid; UAE President, Mohammed bin Zayed Al Nahyan, and the US President Joe Biden.

The I2U2 Grouping was conceptualized during the meeting of the Foreign Ministers of the four countries held in 2021.

Aim: To discuss the common areas of mutual interest, to strengthen the economic partnership in trade and investment.

Mehuli Ghosh and Shahu Tushar Mane clinch second gold in ISSF World Cup

The duo of Mehuli Ghosh and Shahu Tushar Mane bagged second gold medal for India in the 10m Air Rifle Mixed Team at the International Shooting Sport Federation (ISSF) World Cup stage in South Korea.

Indian team defeated Eszter Meszaros and Istvan Pen from the Hungary by 17-13.

Another Indian duo of Palak and Shiva Narwal bagged bronze in the 10m Air Pistol mixed event after defeating Kazakhstan’s Irina Loktionova and Valeriy Rakhimzhan.

ISSF HQ: Munich, Germany

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.