Latest Current Affairs For Thursday 10th November, 2022

Three Indian women featured in 2022 Forbes' Asia's Power Businesswomen

Three Indian women entrepreneurs have been featured in the Forbes' Asia's Power Businesswomen 2022 list, which features 20 women from the Asia-Pacific region.

Steel Authority of India chairperson, Soma Mondal; Mamaearth's co-founder, Ghazal Alagh; and Emcure Pharma executive director, Namita Thapar are the top Indian business leaders in the Asia's power list.

Other women: Choi Soo-yeon (CEO of Naver); Anna Nakajima and Mizuki Nakajima (co-founders of Coly). 

UAE-based Emirates NBD invests $100 mn more in India

UAE-based bank, Emirates NBD will invest an additional amount of USD 100 million in its India operations, and will open two more branches in Chennai and Gurugram.

The lender, having the largest presence in the Middle East region, and invested USD 300 million in the last five years of its operations in India in three tranches.

Its current presence is not as a wholly-owned subsidiary, which is preferred by RBI for units of foreign lenders.

Kerala govt to reimburse tech license cost to startups

Kerala govt has launched a scheme to reimburse the expense incurred by the startup ventures to procure technology licenses from government research institutions.

Under the project 'Technology Transfer Scheme', implemented through Kerala Startup Mission (KSUM), the government will reimburse upto ₹10 lakh to startups purchasing or sourcing technology.

It has invited applications from eligible startups to avail the benefits offered by the scheme.

KSUM CEO: Anoop Ambika

Bureau of Energy Efficiency, SIDBI signs MoU to finance green MSMEs

Bureau of Energy Efficiency (BEE) has signed an agreement with the Small Industries Development Bank of India (SIDBI) to promote energy efficiency financing for MSMEs.

SIDBI acts as the principal financial institution for the promotion, financing and development of MSMEs.

Besides direct financing, it is also a project executing agency for Partial Risk Sharing Facility (PRSF) that guarantees energy efficiency projects.

DMRC, BEL sign for development of indigenous train control system

The Delhi Metro Rail Corporation (DMRC) has signed an MoU with Bharat Electronics Limited (BEL) for the development of an indigenous Communication Based Train Control system (i-CBTC).

This development comes under the 'Make in India' initiative of the Government of India under the aegis of Ministry of Housing & Urban Affairs (MoHUA).

CBTC is being adopted by many countries for its feature of moving block which allows high frequency of trains. 

Holger Rune wins Men's singles 2022 Paris Masters title

Holger Rune (Danish player,19) has defeated the six-time champion, Novak Djokovic to clinch his first Men's single, 2022 Masters title in Paris.

He has become the youngest winner of the Paris tournament since Boris Becker in 1986.

He is the fifth first-time Masters winner this season and will be the first Danish man to break into the top 10.

While the Men's double was won by Wesley Koolhof ( Netherlands) and Neal Skupski (United Kingdom). 

Maharashtra topped the Mutual Fund penetration in India

According to latest data, released by Association of Mutual Funds in India (AMFI), Maharashtra (60), New Delhi (42), and Goa (28) have the maximum MF penetration in India.

Reason: High income levels, Higher literacy rates, and Substantial inflows from corporations and high-networth individuals (HNIs).

While Jharkhand is one of the top 10 states with 13%.

AMFI determines MF penetration as the ratio of state assets managed by MFs to their Gross State Domestic Product.

Reliance set to acquire METRO Cash & Carry India in Rs 4,060 crore deal

Reliance Industries will acquire German retailer, METRO AG's Cash & Carry business in India in a deal estimated at around 500 million euros (Rs 4,060 crore).

The deal includes 31 wholesale distribution centres, land banks and other assets owned by METRO Cash & Carry in India.

It will help Reliance Retail to expand its presence in the B2B segment.

Reliance Retail Ventures Ltd, subsidiary of Reliance Industries, is the holding company of all the retail companies.

Shivnarine, Charlotte, and Abdul Qadir inducted into ICC Hall of Fame

Shivnarine Chanderpaul (West Indies), Charlotte Edwards (English) and Abdul Qadir (Pakistani) have been inducted into ICC's Hall of Fame.

Shivnarine was inducted in 107th ICC's hall of Fame and finished with 20,988 international runs, 41 centuries and 125 half-centuries across formats.

Charlotte was inducted in 108th ICC's Hall of Fame, her 5992 runs in women's ODIs are the second most in the game's history.

Qadir was the 109th inductee on the list.

First private rocket of India will launch in November 2022

India's first private rocket, Vikram-S is ready to launch between November 12 and 16, from ISRO's launchpad at Sriharikota, Andhra Pradesh.

It is a single-stage sub-orbital launch vehicle, which would carry three customer payloads, and validate the majority of the technologies in the Vikram series of space launch vehicles.

The rocket was developed by the Skyroot Aerospace (Hyderabad).

This rocket will launch under their maiden mission named 'Prarambh' (the beginning). 

Dr Subhash Babu becomes first Indian received Bailey K Ashford Medal

Prominent Indian physician and scientist, Dr. Subhash Babu has received the prestigious 2022 Bailey K. Ashford Medal.

He was also honoured with the 2022 Fellow of the American Society of Tropical Medicine and Hygiene (FASTMH) award.

He is also the first Indian to receive such prestigious award.

Reason: For his outstanding research and contributions to tropical medicine.

He is the Scientific Director of International Centre for Excellence in Research-India Programme.

PM Modi unveiled logo and theme for India’s G20 presidency

PM Modi has unveiled the logo, theme and website of India's G20 presidency in New Delhi on November 8, 2022.

About G20 logo:

Logo takes inspiration from India’s national flag – saffron, white and green, and blue.

It juxtaposes planet Earth with the lotus (National flower), that reflects growth amid challenges.

Below the G20 logo, word 'Bharat' is written in the Devanagari script.

Theme: 'Vasudhaiva Kutumbakam' or 'One Earth One Family One Future'. 

GSMA elects Bharti Airtel CEO, Gopal Vittal as Deputy Chair

The GSMA (UK-based grouping of global mobile carriers) has elected Bharti Airtel CEO, Gopal Vittal as Deputy Chair for two-year term (Jan 2023- Dec 2024).

He is the second Indian after Sunil Mittal (Bharti Enterprises Chairman) to be named a top GSMA functionary.

Mittal had served at the highest level as GSMA’s Chair during 2016-18.

While, CEO of Spain’s Telefónica Group, José María Álvarez-Pallete López will continue as the GSMA Chair.

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.