Latest Current Affairs For Saturday 16th July, 2022

Infosys acquires BASE life science for €110 million

Infosys has signed an agreement to acquire life sciences consulting and tech firm BASE life science for up to $€ 110$ million in an all cash deal.

The BASE life science brings Infosys domain experts commercial, medical, digital marketing, and clinical.

It will also help to deepen the life sciences domain capabilities and strengthen its footprint across Europe.

The BASE collaborates with software technology providers such as Veeva, IQVIA, and Salesforce.

Agnikul Cosmos inaugurates factory for 3D printing rocket engines

Agnikul Cosmos (Chennai-based space-tech start-up) has opened its Rocket Factory-1, India’s first-ever rocket facility dedicated to 3D printed rocket engines at scale.

The facility at IIT Madras Research Park was unveiled by N Chandrasekaran, Chairman, TATA Sons with ISRO Chairman S Somanath being the Guest of Honour.

The IIT Madras incubated start-up became the first Indian company to sign an agreement with the Indian Space Research Organisation in December 2020.

SBI General Insurance partners with nurture.farm and Future Generali

Agri-tech startup nurture.farm has partnered with the SBI General Insurance and Future Generali India Insurance Company to expand its insurance solutions for farmers.

nurture.farm is an open digital platform for growers, farming communities and food systems.

The company had recently received a corporate agency licence from IRDAI to enable nurture.farm, to help farmers access innovative insurance solutions at cost-effective price points.

UIDAI launches a new mobile app, 'AadhaarFaceRd'

UIDAI has launched a new mobile app named “AadhaarFaceRd".

Aim: To perform face authentication through mobile app from anywhere and at any time.

Through this verification, an Aadhaar holder's real identity is validated and recorded in the databases of UIDAI which was captured at the time of Aadhaar enrolment.

Aadhaar Face Authentication technology has been developed inhouse by UIDAI.

Benefits of Aadhaar FaceRD: Jeevan Pramaan, Ration Distribution (PDS)

Paper Import Monitoring System to come into effect from 1 October

Paper Import Monitoring System will come into effect from 1st October 2022, an importer need to provide advance information online about the import of papers and obtain a registration number.

It is applicable on import by a Domestic Territory Area unit on a wide range of paper products covering 201 tariff lines, such as newsprint, handmade paper, tissue paper, toilet paper and cartons.

The automatic registration number shall remain valid for a period of 75 days.

Nasscom partnered with Google for DigiVaani Call Center

Nasscom Foundation has joined hands with Google to set up a call centre named “DigiVaani Call Center”, in collaboration with a not-for-profit body Indian Society of Agribusiness Professionals (ISAP).

Aim: To help women farmers scale up their business.

This pilot project is being conducted in six states — Himachal Pradesh, Uttarakhand, Uttar Pradesh, Bihar, Haryana and Rajasthan.

Nasscom Chairperson: Krishnan Ramanujam

Stealth frigate INS Dunagiri launches into the Hooghly River

Dunagiri, a Project 17A frigate has been launched into the Hooghly river at Garden Reach Shipbuilders and Engineers Limited, Kolkata.

The ceremony was attended by Union Defence Minister Rajnath Singh as the chief guest.

It is christened after a ‘Dunagiri’, mountain range in the state of Uttarakhand.

It is the fourth ship of P17A Frigates (Shivalik Class) with improved stealth features, advanced weapons and sensors and platform management systems.

Kerala, Ahmedabad on Time Magazine's List Of 2022 World's Greatest Places

The TIME magazine has listed Kerala and Ahmedabad among the 50 extraordinary destinations to explore in its list of the World’s Greatest Places of 2022.

Kerala: It is one of India’s most beautiful states. With spectacular beaches and lush backwaters, it’s known as “God’s own country” for good reason.

Ahmedabad: India’s first UNESCO World Heritage City, Ahmedabad, boasts both ancient landmarks and contemporary innovations.

Government sets up committee to develop framework on right to repair

The Department of Consumer Affairs has set up a committee in developing a framework for the ‘Right to Repair’.

The committee will be chaired by Nidhi Khare (Additional Secretary of Department of Consumer Affairs).

Aim: To empower consumers and product buyers in the local market, harmonize trade between the original equipment manufacturers and the third-party buyers and sellers.

Countries like the U.S.A, U.K, and European Union have already recognized the Right to Repair. 

Gati Shakti Vishwavidyalaya received tag for Central University

The National Rail and Transportation Institute in Gujarat has been upgraded to a central university and will be known as the Gati Shakti Vishwavidyalaya.

The Union Cabinet gave its approval to introduce a Bill in Parliament, namely, the Central Universities (Amendment) Bill, 2022 to amend the Central Universities Act, 2009 for setting up of Gati Shakti Vishwavidyalaya (GSV).

This is the second central university in the state following the Central University of Gujarat.

Wholesale inflation of India declines marginally to 15.18% for June

The Wholesale Price Index (WPI) of India for the month of June 2022 is 15.18% (Provisional), is marginally lower than the WPI number of 15.88% in May, 2022.

Reason of high rate of inflation: Rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, food products etc.

Fuel and Power category: Index increased by 0.65% to 155.4 in June.

It remained in double-digit for the 15th straight month.

Former Union Bank CEO, G Rajkiran Rai selected as MD of NaBF

Former CEO of Union Bank, G Rajkiran Rai has been recommended by the Financial Services Institutions Bureau (FSIB) as Managing Director at the National Bank for Financing Infrastructure and Development (NaBFID).

He served as the MD & CEO of Union Bank of India for five years, till the date of his superannuation in May 2022.

FSIB was incorporated on July 1, 2022.

The erstwhile Banks Board Bureau (BBB) was revamped into FSIB with certain amendments in its mandate.

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.