Latest Current Affairs For Saturday 1st October, 2022

Rajneet Kohli appointed as a new CEO of Britannia

Britannia Industries has appointed Rajneet Kohli as executive director and chief executive officer effective September 26, 2022.

He has a 25-years long experience in Asian Paints and Coca-Cola and Britannia.

He joined Britannia from food services company Jubilant FoodWorks.

Under his leadership, Jubilant FoodWorks has delivered sustained profitable growth and emerged as the largest QSR chain.

The board has also elevated Varun Berry to executive vice-chairman and MD.

Zerodha’s founder, Nikhil Kamath tops Hurun's under 40 rich list

Zerodha’s founder, Nikhil Kamath (36), with a wealth of Rs 17,500 crore, has topped a self-made rich list of individuals under 40 years.

The list was released by the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2022.

Ola Electric CEO, Bhavish Aggarwal, with a wealth of Rs 11,700 crore has been placed second in the list, followed by Divyank Turakhia (Media Network, with Rs 11,200 crore).

The Hurun India rich list has 53 entrepreneurs under 40 years of age.

Union cabinet approves 4% hike in DA Under 7th Pay Commission

The Cabinet has increased the dearness allowance (DA) and dearness relief by 4%, effective July 1, 2022.

The additional instalment of DA and dearness relief (DR) is an increase of 4% over the existing rate of 34% of basic pay/pension.

The combined impact on the exchequer on account of both DA and DR would be Rs 12,852.5 crore p.a.

The increase in the DA and DR is based on the percentage increase in 12 monthly average of All India CPI for the period ending June, 2022.

DBS Bank India collaborates with HDFC ERGO and Atradius

DBS Bank (India) has collaboration with HDFC ERGO General Insurance Co Ltd and reinsured by Atradius (trade credit insurance provider).

Aim: To provide Credit Insurance - Accounts Receivable solution to Tata Metaliks (manufacturer of pig iron and DI pipes in India).

This credit insurance deal is amongst the first to leverage Trade Credit Insurance.

The revised framework was rolled out by IRDAI in November 2021, that allow banks to participate in this proposition.

AIFF launches Grassroots Football Development Scheme in Arunachal Pradesh

The All India Football Federation has launched grassroots football development (GFD) scheme in Arunachal Pradesh.

Aim: Tap, select and nurture football talents in the age group of 6 to 12 years.

GFD committee chairman, Shantanu Pujari has launched this scheme in the presence of CM Pema Khandu and AIFF President, Kalyan Chaubey. 

The state government would begin this scheme in 100 schools, and physical training teachers of selected schools would be trained by AIFF experts. 

Data Security Council of India appoints Vinayak Godse as CEO

Data Security Council of India (DSCI) has appointed Vinayak Godse as the new CEO of the organisation.

Prior to this, he was serving as the senior vice president of organisation.

He will succeed Rama Vedashree, who served DSCI for nearly six years.

Vedashree has also served on the Justice BN Srikrishna committee, which was charged with developing a model for the nation’s Personal Data Protection Bill.

DSCI was founded by NASS COM.

Dharmendra Pradhan inaugurates 13th FICCI Global Skills Summit 2022

Education minister, Dharmendra Pradhan has inaugurated the 13th FICCI Global Skills Summit 2022 in New Delhi.

Theme 2022: Education to Employability - Making It Happen. 

The Summit would look through the NEP lens and focus on how India can become the “Skill Capital of the World,” using the UN SDG4 as an underlying theme.

The two day Summit was conclude with an event “VIRASAT” The Heritage which honours the exquisite craft of the Indian artisan s. 

Hitachi Astemo installs its first solar power plant in India

Hitachi Astemo, a subsidiary of Japanese firm, Hitachi has installed its India's first solar power plant at Jalgaon manufacturing plant in Maharashtra.

Hitachi is working to reduce its carbon emissions and become carbon neutral by 2050.

With the set up of 3 MW solar power plant, the company would be able to eliminate close to 4000 tons of CO2 emissions each year.

At its Jalgaon plant, Hitachi Astemo is responsible for making high quality brake systems for vehicles.

World Maritime Day 2022: 29th September

The International Maritime Organization (IMO) observes World Maritime Day on the last Thursday of September.

This year, it was observed on September 29.

Focus: Draw public attention to maritime safety and the marine environment.

2022 Theme: New technologies for greener shipping. 

World Maritime Day was celebrated for the first time on March 17, 1978.

The IMO was founded in 1948 to oversee the shipping sector.

Veteran Congress leader, Jayanti Patnaik passes away

Four time Congress MP, Jayanti Patnaik has been passed away at 90 in Bhubaneswar, Odisha.

She was also the first chairperson of NCW (1992 to 1995) and second chairperson of All India Mahila Congress.

She was elected from Cuttack and Berhampur Lok Sabha constituencies in 1981, 1984 and 1998.

She was nominated to Rajya Sabha in 1996.

She was also known for her literary skills, translated KM Munshi’s Krishnavatara into Odia.

RBI hikes repo rate by 50 basis points to 5.9%

The Reserve Bank of India (RBI) has increased repo rate by a half percent to 5.9%.

Accordingly, Standing Deposit Facility stands adjusted to 5.65%, and Marginal Standing Facility and Bank rate stand adjusted to 6.15%.

Since May 2022, he RBI has raised the repo rate by 190 basis points. 

The Real GDP for 2022-23 is projected to grow at 7.0%.

The RBI has retained it's inflation projection at 6.7 per cent for this fiscal year.

India’s foreign exchange reserves: $537.5 billion. 

India ranks 40th in Global Innovation Index of WIPO

As per the 2022 Global Innovation Index of World Intellectual Property Organization, India has climbed to the 40th rank.

India was at 46th position in 2021 and at 81st rank in 2015.

Switzerland with the score of 64.6, has emerged as the world's most innovative economy for the 12th consecutive year.

The second position was secured by the US followed by Sweden, and UK. 

Other countries: China (11th); Lithuania(39th); Latvia (41st); Bangladesh  (102nd); Guinea (132nd, last)

Srishti Bakshi wins ‘Changemaker’ award at UN SDG Action Awards

Indian women’s rights Activist, Srishti Bakshi was honoured with the ‘Changemaker’ award at UN SDG Action Awards.

Reason: For confronting gender-based violence and advocating for safe access to public spaces.

This is a flagship of the UN SDG Action Campaign that 'Mobilise, Inspire and Connect' people to drive action towards a more sustainable future on a healthy planet.

Other categories awards:

Mobilise: SUPvivors say NO MORE

Inspire: Masungi Story

Connect: CyprusInno

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.