Latest Current Affairs For Sunday 4th September, 2022

Apeksha Fernandes Becomes 1st Indian Woman to Reach WJS Championships Final

Apeksha Fernandes became the first Indian woman to make the Junior World finals by finishing eighth overall. Apeksha Fernandes sets a new national record with a time record of 2:18.18.

She finished eighth in the women’s 200m butterfly finals by clocking 2:19.14 at the FINA World Junior Swimming Championships 2022. The previous National record was set in June 2022 at 2:18.39 which was set by Apeksha Fernandes. She has one of the fastest reaction times of 0.65s.

India to Host Quad Senior Officials’ Meeting

The Quad group meeting will be hosted by India in New Delhi with Japan, U.S, and Australia in the coming week. The Quad meeting is the first such “Senior Officers Meeting” (SOM) to be held after tensions rose between China and Taiwan. The Quad SOM meeting is one of several meetings to be held between India and Indo-Pacific Partners.

The Quad SOM meeting is going to be held anytime between 5th-6th September. The SCO summit in Uzbekistan in mid-September is ahead of the Quad SOM meeting. Prime Minister Narendra Modi along with the important leaders of Russia, Iran, China, Pakistan, and Central Asia will attend the SCO Summit, as it is the first such in-person meeting since the outbreak of the COVID-19 pandemic and the Russia-Ukraine war.

Hardeep S. Puri presents Smart Solutions Challenge & Inclusive Cities Awards 2022

The Minister for Housing & Urban Affairs & Petroleum and Natural Gas, Hardeep Singh Puri presented Smart Solutions Challenge & Inclusive Cities Awards 2022.

These awards are an initiative of the National Institute of Urban Affairs (NIUA) and the United Nations (UN) in India to address city-level accessibility and inclusion challenges faced by persons with disabilities (PwD), women and girls, and the elderly.

64th Ramon Magsaysay Award 2022 Announced

The Ramon Magsaysay Awards Foundation (RMAF), which is widely regarded as the “Nobel Peace Prize of Asia,” recently announced this year’s awardees in a global announcement ceremony.

The 2022 Ramon Magsaysay Awardees are Sotheara Chhim (Cambodia), Bernadette Madrid (Philippines), Tadashi Hattori (Japan) and Gary Bencheghib (Indonesia).

The Ramon Magsaysay Award, established in 1957, is Asia’s greatest honour and distinction. The award is managed by RMAF. It is named after Ramon Magsaysay, the third president of the Philippines.

The award is regarded around the world as ‘’Asia’s Nobel Prize’’. The prize is annually presented in a ceremonial ceremony in Manila, Philippines on August 31. The first Ramon Magsaysay Awards ceremony was held on 31st August 1958.

World Bank Applauds India’s Effective Response to the COVID-19 Crisis Strategies

The World Bank acknowledged that the Indian government’s decision to have centralised procurement, support to long-term market development and production of Emergency Medical Equipment (EME), and early export restrictions worked in its favour during the public health emergency in the country in a paper titled “India Covid-19 Procurement: Challenges, Innovations, and Lessons.”

The health ministry shared in a report detailing the difficulties, innovations, and lessons learned in the purchase of crucial medical supplies, the World Bank praised India’s efforts to combat the Covid-19 outbreak.

According to the report, the development of strong inter-ministerial bodies enabled the government to decide quickly on a centralised procurement to aid the states.

NPPA Launched Apps for Enhancing Ease of Business

The National Pharmaceutical Pricing Authority (NPPA) launched Pharmaceutical Database Management System 2.0 and Pharma Sahi Daam 2.0 app during the celebration of the silver jubilee on 29th August 2022.

The National Pharmaceutical Pricing Authority has provided quality products for years. The Union Health minister Mansukh Mandaviya urged NPPA to produce medicines and conduct innovative research to ensure good health and well-being of people other than for commercial purposes. The Pharmaceutical Database Management System 2.0 and Pharma Sahi Daam 2.0 app were launched during the inaugural event.

All-India House Price Index rose by 3.5% in Q1 of 2022-2023

The all-India house price index (HPI) increased by 3.5% year over year, during the first quarter of 2022–2023 according to information made public by the Reserve Bank of India. The HPI increased by 1.8% between January and March and by 2% between April and June of 2021–22.

According to the RBI, there were significant differences in the year-over-year movements of the HPI among the cities, ranging from a growth of 16% in Kolkata to a contraction of 4% in Bengaluru.

In the first quarter of 2022–2023, the all-India HPI climbed by 2.2% sequentially.

The indicator sequentially decreased in Delhi, Kolkata, and Jaipur, while it increased in all other cities.

India Surpasses UK to Become World’s 5th Largest Economy

India has surpassed Britain to become world’s fifth largest economy, Bloomberg reported. The change in ranking has pushed the United Kingdom to the sixth spot as the country continues to grapple under the brutal cost-of-living shack.

The Indian economy is forecast to grow more than 7 per cent this year. On an adjusted basis and using the dollar exchange rate on the last day of the relevant quarter, the size of Indian economy in “normal” cash terms in the quarter through March was USD 845.7 billion. On the same basis, UK was USD 816 billion, according to the report.

India’s GDP projection lowered by Moody’s to 7.7 percent 

According to Moody’s Global Macro Outlook 2022-2023 study, India’s central bank is anticipated to maintain a hawkish posture this year and keep a moderately restrictive policy stance in 2023 to prevent domestic inflationary pressures from escalating.

India’s GDP is now expected to grow at a 7.7% annual rate, down sharply from the earlier estimate of 8.8% in May. Moody’s Investors Service drastically reduced India’s GDP growth by 1.1 percentage points, citing a slowdown in global growth, rising interest rates, and an irregular monsoon as reasons for the economy’s potential to lose steam in the coming quarters.

India’s 2022 GDP growth prediction reduced by Goldman Sachs from 7.6% to 7%

Goldman Sachs has revised lower its growth projections for India. A lower-than-expected growth during April to June increased the negative risk to current fiscal year growth predictions by 40 basis points.

The current fiscal year predictions decreased by 20 basis points from 7.2% and downgraded the full-year 2022 GDP growth forecast from 7.6% to 7%.

In the reporting quarter, India’s real GDP growth increased 13.5% year over year, falling short of the 15.2% projection made by experts surveyed by Reuters.

GDP growth momentum decreased to -3.3% quarter-on-quarter after increasing by 0.5% from January to March.

Adobe and AICTE collaborate to promote digital literacy in India

The All-India Council for Technical Education (AICTE) in order to advance digital creativity capabilities throughout the nation, has struck a partnership deal with Adobe.

According to a release, under the terms of the agreement, Adobe will provide training for educators, provide courses, and incorporate digital creativity into the curriculum to give kids the fundamental creative and digital literacy skills they need to succeed in today’s digital-first society.

By 2024, the alliance hopes to equip more than 75,000 educators working in 10,000 institutions of higher learning with critical digital creativity abilities.

Former goalkeeper Kalyan Chaubey elected as new AIFF chief 

Kalyan Chaubey, who was a goalkeeper with the storied Mohun Bagan and East Bengal football clubs in Kolkata, was elected president of the All India Football Federation.

Choubey got 33 votes in the 34-member electorate comprising representatives of various state associations. His opponent and former East Bengal teammate Bhaichung Bhutia, also 45, had to be content with a solitary vote.

Important For All Exam 2022:

All India Football Federation Founded: 23 June 1937;

All India Football Federation Headquarters location: New Delhi.

Yamuna Kumar Chaubey named as CMD of NHPC

Yamuna Kumar Chaubey takes over as Chairman and Managing Director of NHPC for three months beginning September 1. He succeeded Abhay Kumar Singh.

Chaubey is currently Director (Technical) in NHPC & has been given additional charge of the post of CMD for a period of 3 months till a regular incumbent joins the post.

Abhay Kumar Singh ceased to be the Chairman and Managing Director (CMD) of the company with effect from August 31, 2022, upon attaining the age of superannuation.

Odisha Govt Disburses Rs 869 crore for Farmers Under KALIA Scheme

Odisha government distributed ₹869 crore to 41.85 state farmers under the Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme and assured them of additional aid for crop losses due to floods in the state. ₹2000 each was directly transferred to the bank accounts of 41 lakh farmers and 85,000 landless farmers under the KALIA Scheme.

The state government launched the KALIA Scheme in 2019, under which the farmers of the state are given 4000 in two instalments. The first instalment of 2000 per farmer was distributed on Akshaya Tritiya and the occasion of Nuakhai, and the second instalment was distributed among the farmers.

Karnataka introduces the VentuRISE Global Startup Challenge

VentuRISE Global Startup Challenge: The Karnataka government announced the worldwide startup competition VentuRISE Global Startup Challenge, which aims to aid entrepreneurs in the manufacturing and sustainability-related industries.

The global startups will give business owners from all over the world a stage to present their cutting-edge goods or solutions and make connections with potential investors.

The Global Investors Meet-Invest Karnataka 2022, which takes place from November 2 to 4 in Bengaluru, will include VentuRISE as a participant.

The challenge’s winners will get a cash prize of USD $100,000.

IILM University: Law School is India’s 1st NEP 2020 compliant Law School

IILM University launched the first National Education Policy 2020 (NEP 2020) Complaint Law School in the Country. The IILM University also got the approval of the Government of Uttar Pradesh and the recognition of the Bar Council of India (BCI).

The IILM Law school is also known for its state-of-the-art infrastructure. The IILM University’s interdisciplinary teaching and training techniques comply with NEP 2020 which directs the IILM Law School to achieve its goals and planned experiential learning through various practical initiatives.

Home Minister Amit Shah will unveil the “CAPF eAwas” web portal in Delhi

CAPF eAwas: Home Minister Amit Shah unveiled the CAPF eAwas web portal for the Central Armed Police Forces. The Central Armed Police Forces have always been a solid backbone of the nation’s internal security, Mr. Shah stated in remarks made on the occasion.

More than 35,000 police officers have died since independence day while maintaining internal security, he mentioned, and as a result of their sacrifices, people may sleep well at night and feel secure.

The Indian government launched the “Ayushman CAPF” programme to give families of fallen soldiers access to better medical care.

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.