Latest Current Affairs For Thursday 22nd September, 2022

Adani group becomes India's most valued conglomerate

The Adani group has overtaken the Tata-led conglomerate with an overall market capitalisation of Adani on the BSE at over ₹ 22 lakh crore makes it the most valued in India.

The combined consolidated revenues and net profit of listed companies of Tata Group were Rs 8.6 trillion and Rs 74,523 crore in FY22 respectively.

Mukesh Ambani's group of nine companies stood third on the list with a market capitalisation of more than ₹ 17 lakh crore.

CCI approves merger of Jio Cinema OTT with Viacom18 Media

CCI has approved the proposed merger of Jio Cinema OTT with Viacom18 Media.

Under this, Jio Cinema OTT app of Reliance will be transferred to Viacom18.

In April 2022, RIL and Viacom18 have announced a strategic partnership with Bodhi Tree Systems (BTS).

BTS will invest Rs 13,500 crore in Viacom18 while Reliance Projects & Property Management Services will invest Rs 1,645 crore in the broadcaster.

BTS is an investment firm of Uday Shankar (ex-chairman of Star).

Russian cosmonaut, Valery Polyakov passes away

Russian cosmonaut, Vladimirovich Polyakov, who holds the record for the longest single stay in space, has been passed away at 80.

He flew his first mission into space in 1988 and returning in 1989 after eight months.

He had lived and worked in space for a record 437 days in one stint, orbiting Earth aboard the Mir space station more than 7,000 times between January 8, 1994 and March 22, 1995.

He undertook two space expeditions during his career(678 days and 16 hours).

SBI Foundation, WWF India join hands for Red Panda conservation

SBI Foundation and WWF India have partnered to generate fine-scale information on Red Panda species at a transboundary level and engage with communities in safeguarding them in the Khangchendzonga landscape of Sikkim and West Bengal.

The event was organised at the Himalayan Zoological Park in Gangtok.

International Red Panda Day is celebrated every year on the third Saturday of September to support Red Panda conservation. 

SBI Foundation is the CSR arm of SBI.

World Bank approves $150 million loan to Punjab

Punjab government has received a loan of $150 million (approx Rs 1,200 crore) from the World Bank to help the state better manage its financial resources and improve access to public services.

Punjab at present has a debt of Rs 2.63 lakh crore.

The $150 million loan has a maturity of 15 years including a grace period of 6 months.

Punjab government will launch new projects with World Bank's assistance to attain its development goals.

Punjab CM: Bhagwant Mann

International Day of Peace: 21st September

The International Day of Peace is observed globally on September 21 to promote ideals of peace among nations and people by observing non-violence and ceasefire for 24 hours.

Theme for the International Day of Peace 2022 is “End racism. Build peace.”

The day was established in 1981 by the United Nations General Assembly.

The General Assembly unanimously in 2001 voted to designate the day as a period of non-violence and cease-fire.

Odisha to invest Rs 261 crore in livelihood action plan

The Odisha government has approved Rs 261 crore for regeneration of coastal ecosystem and to enhance climate resilience among people living on the coast.

The government has decided to implement this livelihood action plan from the current year till 2026-27.

The main coastal landscapes to be treated under the project and would include areas like Bhitarkanika in Kendrapara district, Bahuda and Chilika in Ganjam district, and Devi Mouth, Chilika in Puri district.

36 OneWeb satellites reach at Satish Dhawan Space Centre

The 36 satellites of OneWeb, the Low Earth Orbit (LEO) satellite communications company has been arrived at Satish Dhawan Space Centre ahead of a planned launch from Sriharikota.

The satellites will be launched by the heaviest ISRO rocket, the GSLV-MkIII.

OneWeb has partnered with NewSpace India Limited (NSIL) to facilitate the launch.

NSIL is the commercial arm of national space agency Indian Space Research Organisation (ISRO).

Chairman and MD, NSIL: Radhakrishnan D

Comedian, Raju Srivastava passes away

Comedian, Raju Srivastava has been passed away at 58 due to heart attack in AIIMS, New Delhi.

He was the chairman of the Film Development Council Uttar Pradesh.

He got fame after participating in the first season of the reality stand-up comedy show "The Great Indian Laughter Challenge" in 2005.

He played supporting roles in Hindi films such as Maine Pyar Kiya, Baazigar, the remake of Bombay to Goa and Aamdani Atthani Kharcha Rupaiya.

World Alzheimer’s Day 2022: 21st September

World Alzheimer's Day is observed every year on September 21 to raise awareness about neurological disorders.

The theme 2022: know dementia, know Alzheimer's.

Alzheimer's disease: It is the most common form of dementia. It destroys the brain cells which causes memory loss, memory changes, erratic behaviour, and loss of body functions.

This day was first marked on 21 September 1994.

The month is being observed by Alzheimer’s Disease International.

RBI take out Central Bank of India from PCA restrictions

RBI has decided to remove the Central Bank of India from its Prompt Corrective Action Framework (PCAF).

Reason: Improvement in various financial ratios, including minimum regulatory capital

PCA norms: It is a supervisory tool and is imposed on banks, when they breach certain regulatory thresholds on capital to risk weighted assets ratio, net NPAs, and return on assets.

The RBI imposed PCA norms on the bank in June 2017 due to its high net NPA and negative RoA.

AIBD extended India’s Presidency for one more year

India’s Presidency of Asia-pacific Institute of Broadcasting Development (AIBD) has been extended for one more year.

The decision was taken unanimously by the AIBD member countries at the two-day General Conference held in New Delhi.

Currently, CEO of Prasar Bharati and DG of Doordarshan, Mayank Kumar Agrawal is the President of AIBD. 

The conference was inaugurated by Information and Broadcasting Minister Anurag Singh Thakur.

AIBD was established in 1977.

Gujarati film 'Chhello Show' becomes India’s official entry for Oscars 2023

Gujarati Film, Chhello Show (Last Film Show) has been selected as the India’s submission to the Best International Feature Film category at the 95th Academy Awards.

This movie was directed by Pan Nalin.

This movie was honoured the Golden Spike at the 66th Valladolid International Film Festival in 2021.

This movie was premiered at Tribeca Film Festival in 2021.

The film was also nominated for Tiantan Awards at 11th Beijing International Film Festival.

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.