Latest Current Affairs For Saturday 24th September, 2022

India to host maiden Moto GP race in 2023

India will host its maiden MotoGP World Championships race at the Buddh International Circuit in Greater Noida in 2023.

MotoGP commercial rights owner, Dorna has signed an MoU with the Noida-based race promoters, Fairstreet Sports to host the premier two-wheel racing event in India for next seven years.

MotoGP has plans to also introduce MotoE into the Indian racing scenario that will not only be a first in Asia but a green initiative with net zero carbon emission.

Max Life ropes Rohit Sharma and Ritika Sajdeh as brand ambassadors

Max Life Insurance has appointed Indian men’s cricket team captain, Rohit Sharma and his wife, Ritika Sajdeh as their new brand ambassadors for two years.

The core message of Max Life Insurance is to be prepared mentally, physically, and financially for emerging challenges.

Aim: To promote the Max Life brand ethos of valuing the 'self' to determine the right financial value to protect themselves and their family.

Japan’s MUFG Bank injects ₹3,000 crore in India biz

MUFG Bank (Japan) has boosted the capital of its branches within India by ₹3,000 crore ($380m).

Reason: As the bank looks to expand its India business. 

Impact: It will strengthen its financial base in India and better respond to the diverse financing needs of its clients. 

With this capital injection, the total capital of MUFG Bank in India will rise to ₹5,207 crore.

The bank has already expanded its presence by opening a branch at Gujarat International Finance TecCity.

3rd edition of Lok Manthan programme inaugurates by VP Jagdeep Dhankhar

VP, Jagdeep Dhankhar has inaugurated 3rd edition of the Lok Manthan programme at Srimanta Sankardeva Kalakshetra in Guwahati.

Theme of 2022 biennale is Lokparampara (Lok traditions).

Kerala Governor, Arif Muhammad Khan will be the Chief Guest at the concluding session (24th September).

Lokmanthan: It is an occasion where artists, intellectuals, and academicians are come from different parts of the country converge and brainstorm on the questions that haunt the society.

SC appoints former Judge L Nageswara Rao for amending IOA's Constitution

The bench of SC, headed by Justice D Y Chandrachud, has appointed former apex court judge Justice L Nageswara Rao for amending constitution of Indian Olympic Association.

Responsibility: To prepare a road map for amending the constitution and holding elections by December 15, 2022.

Background: IOC had issued a final warning to IOA to resolve its governance issues and hold elections by December.

Impact: If failed to do so, then the world sports body will ban India.

NCC, UNEP sign MoU to tackle the issue of plastic pollution

National Cadet Corps (NCC) has signed an MoU with and United Nations Environment Programme (UNEP).

Aim: To tackle the issue of plastic pollution and achieve the universal goal of clean water bodies through Puneet Sagar Abhiyan and Tide Turners Plastic Challenge programme.

The MoU was signed in the presence of Defence Minister Rajnath Singh.

Puneet Sagar Abhiyan, was launched by the NCC on 1st December 2021.

National Cadet Corps DG: Lt. Gen. Gurbirpal Singh

Sarbananda Sonowal inaugurates conference on consciousness

Ayush Minister, Sarbananda Sonowal has inaugurated the international conference on Consciousness at NIMHANS, Bengaluru.

Theme 2022: Exploring Consciousness- From Non- Locality to Non- Duality: The Man- Machine Debate

The conference was organized by India Foundation and NIMHANS and supported by Ministry of Ayush.

He has also inaugurated the Centre of Excellence project in the Department of Integrative Medicine at NIMHANS, Bengaluru as part of Ayurswasthya Yojana.

RBI cancels license of Maharashtra-based Laxmi Cooperative Bank

RBI has cancelled the licence of Maharashtra-based the Laxmi Co-operative Bank.

Reason: Lack of adequate capital

Claim: Every depositor would be entitled to receive a deposit insurance claim amount upto 5 lakh rupees.

The Commissioner for Cooperation and Registrar of Cooperative Societies (Maharashtra) has also been asked wind up the business and appoint a liquidator for the bank.

As per the data, 99% of the depositors are entitled to receive the full amount of DICGC.

Sign Language Day 2022: 23rd September 2022

The United Nations has declared 23rd September as the International Day of Sign Languages to spread the awareness about the importance of sign language in the realisation of the human rights of people who are deaf.

Theme 2022:  Sign Languages Unite us

The first International Day of Sign Languages was celebrated in 2018 as part of the International Week of the Deaf.

Indian govt conduct Sign Language Day event, in which Indian Sign Language Dictionary App launched.

EAM Dr. S Jaishankar hosts G-4 meeting of Foreign Ministers

External Affairs Minister of India, Dr. S Jaishankar has hosted the G-4 meeting of Foreign Ministers.

The summit was attended by Ministers Foreign Ministers -

Carlos França (Brazil). 

Yoshimasa Hayashi (Japanese). 

Annalena Baerbock (German). 

He is on visit USA from 18-28 September 2022.

He led India delegation for the High Level Week at the 77th Session of UNGA.

77th UNGA theme: Watershed Moment: Transformative Solutions to Interlocking Challenges

Author-poet, Meena Kandasamy wins German PEN award

Indian author and poet, Meena Kandasamy has been named as the recipient of the Hermann Kesten Prize by the PEN Centre in Germany’s Darmstadt.

The Hermann Kesten Prize honours to those personalities who are in the spirit of the charter of the PEN association and stand up for the rights of persecuted authors and journalists.

Her notable works: The Gypsy Goddess (2014), When I Hit You: Or, A Portrait of the Writer as a Young Wife (2017), and Ms Militancy (2010).

Gates Foundation provides $1.27 billion aid for poverty, social inequality

The Bill and Melinda Gates Foundation has announced to provide financial assistance of USD 1.27 billion to address poverty and social inequalities.

A per the annual Goalkeepers report, that every indicator of the UN SDGs are off track for achieving them by 2030.

2022 Goalkeepers awards:

Global Goalkeeper Award: Ursula von der Leyen (Germany). 

Campaign Award: Vanessa Nakate (Uganda). 

Changemaker Award: Zahra Joya (Afghanistan). 

Progress Award: Dr. Radhika Batra (India). 

Daniel A. Spielman awarded 2023 Breakthrough Prize in Mathematics

Daniel A. Spielman has been honoured with the 2023 Breakthrough Prize in Mathematics for multiple discoveries in theoretical computer science and mathematics.

In Fundamental Physics:

Charles H. Bennett, Gilles Brassard, David Deutsch and Peter Shor. 

Reason: Discovering the fundamental physics that underlie quantum computation.

Life Sciences:

Clifford Brangwynne and Anthony Hyman. 

Demis Hassabis and John Jumper. 

Emmanuel Mignot and Masashi Yanagisawa. 

India-US launched ‘Operation Broader Sword’

India and the USA, jointly conducted an ‘Operation Broader Sword’ to stop the illegal shipment of drugs through the International Mail System.

It targeted shipments of illicit, potentially dangerous, unapproved prescription drugs, combination medical devices, and synthetic drug precursors shipped through International Mail Facilities.

The operation resulted in the interception of over 500 shipments of illicit and unapproved prescription drugs bound for US consumers.

NLU Delhi launches research affiliate program ‘Eklavya’

The National Law University (NLU), Delhi launched Eklavya, a ‘Research Affiliate’ program, for those who do not have a traditional law degree.

Aim: To emphasize its commitment to actively seek partnerships outside the varsity and draw from their experiences and perspectives to develop quality legal scholarship. 

It is open to those who have at least three years of demonstrable experience working on issues that have a significant interface with the law.

CarTrade Tech to acquire OLX India's auto business for Rs 537 cr

Mumbai-based used cars platform CarTrade Tech Ltd will acquire online marketplace OLX India's auto sales business for Rs 537 crore.

CarTrade will acquire a 100% stake in Sobek Auto India Pvt Ltd, the entity that houses OLX India’s Automotive business, in an all-cash deal.

The acquisition will likely to be completed in 21-30 days.

Sobek is a company incorporated under the Companies Act, of 2013.

It is engaged in the business of running an automotive digital platform.

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.

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.

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.

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. 

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.

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.

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.