Latest Current Affairs For Saturday 30th July, 2022

HAL signs contract with Honeywell for HTT-40 engine

Hindustan Aeronautics Limited (HAL) has signed a contract worth over $100 million with Honeywell.

Aim: For the supply and manufacture of 88 TPE331-12B engines/kits along with the maintenance and support services to power the Hindustan Trainer Aircraft (HTT-40).

The TPE331-12B engine is a single shaft turboprop engine with integral inlet and gearbox, two stage centrifugal compressor, power turbine, gearbox, three stage axial turbine and turbine exhaust diffuser.

Isro earns $279 million in foreign exchange through satellite launches

The Indian Space Research Organisation (ISRO) has earned 279 million dollars in foreign exchange by launching satellites for global clients.

ISRO in association with its commercial arms has successfully launched 345 foreign satellites from 34 countries on-board Polar Satellite Launch Vehicle (PSLV).

The PSLV mission (latest) was on June 30 when ISRO has launched three Singaporean satellites into orbit.

DSF institutes Dinesh Shahra Lifetime Award for Excellence in Music

Dinesh Shahra Foundation (DSF) has instituted a first-of-its-kind ‘Dinesh Shahra Lifetime Award’ for Excellence in Music. 

The initiative is supported by the Indian Arts & Cultural Society.

The Announcement of was made by Dinesh Shahra, Trustee of DSF, during a cultural event titled “Mausiqui’ in Mumbai recently.

The recognition will include trophy and also a significant cash component.

Eminent Assam Writer, Atulananda Goswami passes away

Writer of 'Namghoria', Atulananda Goswami (Sahitya Akademi winner), known for his novels and short stories has been passed away at 87.

He had also received the Sahitya Akademi Award in 2006 for his short story collection 'Seneh Jarir Ganthi'.

Awards: Ambikagiri Roy Choudhury Sahitya Award, the Kumar Kishor Memorial Award, the Katha Award and the Sneha Bharati Sahitya Samman, among other honours.

He also translated many English, Bengali and Odia texts into Assamese.

Gujarat becomes first state to launch semiconductor policy in India

Gujarat has become the first state to launch a Semiconductor Policy 2022-27, with an aim to boost manufacturing of semiconductors in the state.

The policy also offers incentives and subsidies to manufacture semiconductors.

The state government has also set up Gujarat State Electronics Mission, as the nodal agency for the policy implementation.

The eligible projects will be given 75% subsidy on purchase of the first 200 acre land for setting up manufacturing units.

ReNew signs pact with Egypt govt to set up green hydrogen plant

ReNew Power has signed an agreement with the Egyptian government to invest as much as $8 billion to produce green hydrogen manufacturing facility at the Suez Canal Economic Zone in Egypt.

ReNew will produce 220,000 tonnes of the clean fuel annually in Egypt in the coming years.

ReNew is supported by investors including Goldman Sachs Group Inc and Abu Dhabi Investment Authority.

Renew Power Chairman: Sumant Sinha; 

Headquarters: Gurugram

PM Modi launches India’s first global gold exchange in Gujarat

PM Modi inaugurates India’s first global gold exchange in Gujarat International Finance Tec-City.

Aim: To create a regional bullion hub, that allow more jewelers to import the precious metal.

PM Modi also launch NSE IFSC-SGX Connect platform, with the help of this system, all orders on Nifty derivatives placed by members of Singapore Exchange Limited (SGX) will be routed to and matched on the NSE-IFSC order matching and trading platform.

First Indigenous Aircraft Carrier INS Vikrant handed over to Indian Navy

The Cochin Shipyard has handed over the first indigenous aircraft carrier Vikrant to the Navy.

It was designed by the Navy’s in-house Directorate of Naval Design.

It was named after INS Vikrant which played a vital role in the 1971 war ( Decommissioned in 1997 ).

Features:

The aircarft carrier is 262-meter-long and has a full displacement of close to 45,000 tonnes.

It is powered by four Gas Turbines totalling 88 MW power.

It has a maximum speed of 28 Knots.

Ministry of Defence iDEX-DIO signs its 100th innovation contract

iDEX (Innovations for Defence Excellence) has signed its 100th contract with Pacify Medical Technologies Pvt Ltd in New Delhi.

It was launched in 2018 by the PM Narendra Modi, and promoted as the flagship for technological innovation of the Ministry of Defence.

Purpose of iDEX: To encourage start-ups and provide them a platform for co-creation and co-development in defence and aerospace technology.

It is funded and managed by the “Defence Innovation Organization.

Union Minister of Agriculture launches 11th Agriculture Census

The Union Minister for Agriculture, Narendra Singh Tomar has launched the 11th Agricultural Census (2021-22) with an aim to provide information on a variety of agricultural parameters at a relatively minute level.

Agriculture Census is conducted every 5 years, but it was delayed due to corona pandemic.

He has released the Handbook on Operational Guidelines for Census for the use of States/UTs, and launched the Data Collection Portal/App.

Singapore emerges as top country for FDI equity inflows into India

Singapore (27.01%) and USA (17.94%) have emerged as top  sourcing countries in FDI equity flows into India in FY2021-22.

Mauritius (15.98%) has been ranked third followed by Netherland (7.86%) and Switzerland (7.31%).

Top 5 sectors: Computer Software & Hardware (24.60%), Services Sector, Automobile Industry, Trading and Construction (Infrastructure) Activities.

Top 5 States: Karnataka (37.55%), Maharashtra (26.26%), Delhi (13.93%), Tamil Nadu, and Haryana. 

PM Modi inaugurated 44th Chess Olympiad in Chennai

PM Modi has inaugurated the FIDE 44th Chess Olympiad in Jawaharlal Nehru Indoor Stadium, Chennai, Tamil Nadu.

The ceremony was attended by Tamil Nadu CM, MK Stalin, five-times chess champion Viswanathan Anand and several others.

The competition is being hosted in India for the first time and in Asia after 30 years.

A total of 343 teams from 187 countries are participating in the event.

Chess Olympiad mascot: ‘Thambi’ (Chess Knight)

Anthem: Vanakkam Chennai

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.