Latest Current Affairs For Wednesday 12th October, 2022

BSE gets SEBI nod for social exchange

SEBI has granted its in-principle approval to BSE for introducing a social stock exchange as a separate segment.

Social stock exchange will enable the listing of non-profit organisations and for-profit social enterprises that are engaged in 15 broad eligible social activities approved by the market regulator.

These social entities can raise funds through equity, issue of zero-coupons zero-principal bonds, MF, social impact funds and development impact bonds.

Russia launches GLONASS-K satellite navigation system

Russia has launched a GLONASS-K navigation system from northern cosmodrome, north of Moscow.

This system was carried by Soyuz-2.1b medium-class launch vehicle.

GLONASS-K is a navigation satellite intended as a part of the Russian GLONASS radio-based satellite navigation system.

Russia has spent billions of dollars in the past two decades on developing the GLONASS system.

This system seen as a potential rival to the U.S. global positioning system (GPS).

South Indian Bank enters World Book of Records for ‘101 Oonjals’

South Indian Bank has bagged a world record for staging and swinging the highest 101 Oonjals (Jhoolas), beautifully decorated- in Kochi.

The South Indian Bank has organized an event 'Onnichirikkam Oonjaladam'.

The World Book of Records team has also presented the award to South Indian Bank officials.

Swings were made using wood and rope in the traditional way.

MD and CEO of the South Indian: Murali Ramakrishnan

Gujarat’s Modhera becomes India's first 24x7 solar-powered village

PM Narendra Modi has declared Modhera village in Gujarat as the country's first 24x7 solar-powered village.

Modhera, is famous for Sun temple that was built during the Chalukya.

The village has a ground-mounted solar power plant, and over 1,300 rooftop solar systems with 1kW capacity have been installed on houses to generate electricity.

Both the central and state governments have invested over ₹80 crore in this project in two phases.

Goa to host 37th National Games in October 2023

The Indian Olympic Association has announced that the 37th edition of the National Games will be hosted by Goa in October 2023.

The date of the 37th National Games will be decided while keeping in view of the dates of 19th Asian Games that will be held from 23rd September to 8th October, 2022 in Hangzhou, China.

Goa had received the rights to host the National Games in 2008, failed to host them, due to different reasons.

Kishore Kumar Poludasu becomes new MD & CEO of SBI General Insurance

SBI General Insurance Company has appointed Kishore Kumar Poludasu as its new Managing Director & Chief Executive Officer.

His appointment was came into effect from 4th October 2022.

He was nominated by SBI (parent company).

He was associated with SBI since 1991.

Prior to this, he was the Deputy Managing Director, Head of State Bank of India, Singapore Operations.

He was also associated with setting up of National Bank for Financing Infrastructure and Development.

Amazon India gets approval by Delhi govt to operate 24/7 in New Delhi

Delhi Lieutenant Governor, VK Saxena has granted an approval to Amazon India to operate 24/7 in New Delhi.

The application was submitted by the company around three years back.

Impact:

Now Amazon's products can be delivered round-the-clock in New Delhi. 

Boost employment generation. 

Promote a positive and a favourable business environment.

The decision has been made providing exemption under Sections 14, 15 and 16 of the Delhi Shops & Establishment Act, 1954.

Villupattu exponent, Subbu Arumugam passes away

Veteran Villupaattu exponent, Kavignar Subbu Arumugam has been passed away at the age of 95 in Chennai.

He was conferred with Padma Shri (fourth highest civilian award of India) in 2021.

Other awards: Sangeetha Natak Akademi; Kalaimamani Award and Bharathi Award (By Tamil Nadu govt). 

Villupaattu: It is an ancient form of musical story-telling and the narration is interspersed with music.

It is performed mostly during temple festivals.

Minister, Anurag Thakur inaugurates Water Sports Center in HP

Anurag Singh Thakur (Union Minister of Youth Affairs and Sports) has inaugurated a Water Sports Center in Koldam Barmana, Bilaspur, Himachal Pradesh.

This centre has been dedicated for training of athletes in water sports like Rowing, Canoeing and Kayaking.  

It is a joint initiated of the Sports Authority of India (SAI) and National Thermal Power Corporation (NTPC).

During the event, the Memorandum of Understanding (MoU) was also exchanged between SAI and NTPC.

Banking crisis breakthroughs win 2022 Nobel Prize for Economics

The 2022 Nobel Prize for Economics has been awarded to Ben S. Bernanke (USA), Douglas W. Diamond (USA) and Philip H. Dybvig (USA) for their research on banks and financial crises.

Their research has significantly improved the understanding of the role of banks in the economy, particularly during financial crises.

Diamond has demonstrated that how banks perform another societally important function.

While, Ben Bernanke has analysed the Great Depression of the 1930s.

International Day of Girl Child 2022: 11th October

The International Day of the Girl Child is observed annually on October 11 to raise awareness about the gender inequality faced by girls worldwide.

Theme 2022: 'Our time is now - our rights, our future.'

On December 2011, the United Nations General Assembly (UNGA) has adopted resolution to declare 11th October as this day.

This day was first celebrated on October 11, 2012.

This year will be the 10th anniversary of the International Day of the Girl Child (IDG).

National Conference on Skilling in Non-Traditional Livelihood for girls

Ministry of WCD has organized National Conference on Skilling in Non-Traditional Livelihood for Girls - Betiyan Bane Kushal in New Delhi.

This conference was organized under the Beti Bachao Beti Padhao initiative.

Aim: Convergence between Ministries and Departments to ensure the skill development of girls.

During the event, MoUs was signed between the Ministry of Skill Development and Entrepreneurship and Ministry of Minority Affairs for Skilling of young Girls.

Harmanpreet Kaur wins ICC Player of the Month awards for September 2022

India Captain, Harmanpreet Kaur has won the ICC Player of the Month awards for September 2022 in women's category.

She received the award for her memorable 3-0 ODI series sweep over England.

She beat her deputy, Smriti Mandhana and Bangladesh counterpart, Nigar Sultana.

This was India's first series win in England since 1999.

While in men's category, Pakistan wicketkeeper batter, Mohammad Rizwan won the ICC Player of the Month awards for September 2022.

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.