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Daily G.K. - Top Stories

25 Feb 2023

DAILY G.K. TEST

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INTERNATIONAL AFFAIRS

Ex-Mastercard CEO Ajay Banga Nominated by US President to Lead World Bank

  • US President Joe Biden nominated former Mastercard Chief Executive Ajay Banga to lead the World Bank, after its current chief David Malpass announced plans to step down early.
  • The development lender has just started accepting candidate nominations in a process set to run until March 29, with the bank saying that women candidates would be strongly encouraged.
  • The president of the World Bank is typically American, while the leader of the International Monetary Fund is customarily European.
  • Banga's nomination came amid a push for development lenders to revamp and address global problems like environmental issues more effectively.
  • The United States is the World Bank's largest shareholder.

India Joins Agriculture Innovation Mission for Climate

  • India joined the Agriculture Innovation Mission for Climate (AIM4C). It was started by UAE and USA in November 2021. The main objective of the initiative is to address hunger and climate change.
  • AIM4C seeks to increase investment in and support innovation in climate-smart agriculture and food systems. The AIM4C initiative has successfully increased these investments to more than 8 billion US dollars globally.
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ENVIRONMENT

India Calls for Greater Cooperation with France in Clean Energy Field

  • India called for greater cooperation with France in the field of clean energy and highlighted Delhi's plans for green transitioning to EVs and hydrogen energy.
  • The Indian renewable sector ranks fourth on the list of the world's most attractive renewable energy sectors and solar energy is the most abundant source of renewable power in the country.
  • Ministry of Science and Technology, Secretary, S. Chandrasekhar said that the government in 2022 had set a target of installing 100 GW of solar energy.
  • He said that using the Thar Desert as a site for solar power generation, the country is estimated to generate up to 2,100 GW of solar energy.
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BUSINESS AND ECONOMY

UK Surpasses India as the World's Sixth-biggest Equity Market

  • The UK surpassed India as the sixth-largest equity market in the world for the first time since May 2022 as a weaker pound increases the attraction of exporters and concerns over the Adani-Hindenburg controversy being felt throughout Indian markets.
  • Since US-based short-seller Hindenburg Research published a damning report against the conglomerate, India's equity market has been dealing with a double whammy of a lower currency and the significant fallout of the stock tumble being experienced by Adani Group enterprises.
  • The company refuted the allegations made in the Hindenburg Research study from January 24 that it had inappropriately used offshore tax havens and had manipulated stock prices.

MCA Approves Demerger of Core and Non-core Assets of SCI

  • The Ministry of Corporate Affairs (MCA) issued an official order approving the proposed demerger of the core and non-core assets of Shipping Corporation of India (SCI).
  • The sanction of demerger of non-core assets (demerged undertaking) of SCI into Shipping Corporation of India Land and Assets (SCILAL) was under Section 230-232 of the Companies Act.
  • This could pave the way for the privatisation of SCI, with the government looking to divest its entire 63.75 per cent stake in the national cargo carrier.

Paisalo Digital Signs Co-lending Agreement with Karnataka Bank for MSME, Agri Lending

  • Non-banking financial firm Paisalo Digital Ltd. entered into a co-lending loan agreement with Karnataka Bank to meet the funding requirements of priority segments such as agriculture, retail, MSME, and women entrepreneurs.
  • As per the Agra-based NBFC, the co-lending agreement with Karnataka Bank will enable it to drive financial inclusion by providing low-cost financial solutions to priority sectors.
  • The agreement is in conformity with the RBI circular on co-lending of loans as released on November 5, 2020. Under co-lending agreements, banks and NBFCs enter into tie-ups for joint contribution of funding for priority sectors.
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SCIENCE & TECHNOLOGY

Vodafone Germany, Tech Mahindra Deepen Partnership for Enhanced Service

  • Tech Mahindra announced that it is expanding partnership with Vodafone Germany to enhance customer and sales experience.
  • As a part of this multi-year engagement, Comviva, a Tech Mahindra company, will deliver a unified sales solution across mobile, fixed, cable and TV services businesses of Vodafone Germany.
  • Vodafone Germany's partnership with Tech Mahindra began in 2019 with focus on transforming assisted sales experience.

Russia Launches Spacecraft to Rescue Astronauts Stuck on ISS

  • Russia launched a rescue ship for two cosmonauts and a NASA astronaut whose original ride home sprang a dangerous leak while parked at the International Space Station.
  • The Russian Space Agency delayed the launch of the replacement Soyuz, looking for any manufacturing defects. No issues were found, and the agency proceeded with predawn launch from Kazakhstan of the capsule with bundles of supplies strapped into the three seats.
  • The three men launched in this Soyuz last September on what should have been a six-month mission. They'll now stay in space for a full year, until a new capsule is ready for their crew replacements for liftoff in September. It was their Soyuz that just launched with no one on board.
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SPORTS

Women's T20 World Cup: India Fail Again, Lose to AUS by 5 Runs in Semi-finals

  • India crashed to a defeat vs Australia in their semi-finals fixture of the Women's T20 World Cup 2023, at the Newlands Cricket Ground in Cape Town. Chasing a target of 173 runs, India reached 167/8 in 20 overs, with Harmanpreet Kaur's half-century going in vain, losing by five runs. The India captain slammed 52 runs off 34 balls, including six fours and a maximum. For Australia's bowling department, Darcie Brown and Ashleigh Gardner were in good form and took two wickets each respectively.
  • South Africa was the host country of the Women's T20 World Cup 2023.
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NATIONAL AFFAIRS

Another High Profile Exit from Congress

  • The Congress witnessed another high profile exit with C. R. Kesavan, the great grandson of the last Governor General of India, C. Rajagopalachari, resigning, citing dissipation of values for which he had joined and served the Congress for over 20 years.
  • Kesavan, a former AICC secretary, was welcomed in his move by Anil Antony, the son of former Defence Minister and Congress veteran A. K. Antony.
  • Anil Antony had resigned from the Congress, slamming the party's position on the BBC documentary "India: The Modi question."
  • Kesavan, who served as vice president of the Rajiv Gandhi National Institute of Youth Development at Sriperumbudur in the rank of a state minister, sent a resignation letter to Congress President Mallikarjun Kharge on the eve of the AICC's 85th plenary, being held in Raipur.
  • The timing of Kesavan's resignation could not be worse for a party seeking to unite the opposition against Prime Minister Narendra Modi when it has been unable to keep its own flock together.

Government Approves Five-year Project on 'Innovative Extension Approaches for Revitalising Agriculture in J&K'

  • In Jammu and Kashmir, in order to give a huge push to sustainable agriculture in the Union Territory, the Government approved a five-year project on "Innovative Extension Approaches for Revitalising Agriculture in J&K".
  • The project, worth Rs. 463 crore, is aimed at empowering farmers and educated youth through technology driven and inclusive agri-extension services.
  • One of the critical outcomes of the project would be the creation of two thousand Kissan Khidmat Ghars (KKGs), at the Panchayat level as a hub of convergence of services at the district level they will also serve as a One Stop Centre for extending farmer-oriented services related to agriculture and allied sectors.
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DEFENCE

First Medium Range Missile Regiment raised in Eastern Command

  • In a significant boost to Indian Army's Air Defence and Capability development, the first Medium Range Surface to Air Missile (MRSAM) Regiment was raised in the Eastern Command.
  • The Regiment has been equipped with MRSAM Weapon System indigenously developed by Defence Research and Development Organisation (DRDO).
  • The MRSAM weapon system, which is also called the 'Abhra' weapon system, is a state-of-the art medium range air defence weapon system jointly developed by the DRDO and the Israeli Aerospace Industries (IAI) with active participation from Indian public and private defence industry partners including MSMEs.
  • The Eastern Command is one of the six operational commands of the Indian Army. It is headquartered in Fort William in the city of Kolkata in the state of West Bengal. Lieutenant General Rana Pratap Kalita is the current GOC-in-C of Eastern Command.
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AWARDS AND HONOURS

Navy Chief Awarded On-The-Spot Unit Citation INS Nireekshak for Salvage Operation

  • The Chief of the Naval Staff (CNS) Adm R. Harikumar visited INS Nireekshak at Kochi where he interacted with the diving team of the ship involved in the salvage operations at a depth of 219 meters in the Arabian Sea. He commended the ship on the safe and successful conduct of the operations under the most challenging circumstances. This is the deepest salvage carried out in the country's waters.
  • The CNS awarded the ship an 'on the spot' Unit Citation, a first in Indian Navy. He also awarded commendations to the crew involved in the salvage ops.
  • INS Nireekshak is a Dive Support and Submarine Rescue Vessel of the Indian Navy. Built by Mazgaon Shipbuilders in 1985, the ship has been in service with the Navy since 1989.
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GOVERNMENT POLICIES AND SCHEMES

Rajasthan Increases Workdays to 125 under its Job Guarantee Scheme

  • Rajasthan Chief Minister Ashok Gehlot approved a proposal to increase the number of workdays from 100 to 125 under the Indira Gandhi Urban Employment Guarantee Scheme.
  • The scheme, started on the lines of central government's Mahatma Gandhi NREGA, is proving helpful for the jobless in the cities.
  • This amendment will be effective from April 1, 2023. An expenditure of about Rs 1,100 crore is likely to be incurred for providing additional 25 days' work to the urban unemployed.
  • Under the scheme, people can get work through a job card, which they can be issued by producing Jan Aadhaar card and fulfilling other formalities.
  • The scheme provides work in several fields such as environment protection, water conservation, heritage protection, cleanliness, public service, convergence, and prevention of property distortion.
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GENDER/ HEALTH/ EDUCATION

IIT Guwahati Innovators Construct 3D Printed Security Post Using Industrial Waste

  • As a part of the G20 initiatives, IIT Guwahati innovators constructed a 3D printed security post using a special M40 grade sustainable concrete containing industrial wastes, fibres and chemical admixtures.
  • A team of Dodda Srinivas, Dhrutiman Dey, and Akshay Sahu, started a start-up, Stratify 3D Pvt. Ltd. under the mentorship of Dr. Biranchi Panda, Assistant Professor, IIT Guwahati, developed this digital technology in line with 'AatmaNirbhar Bharat' vision of our Prime Minister Narendra Modi. This automated and innovative technology developed at IIT Guwahati is ready to provide customised houses in India in less construction time with controlled quality.

Gujarat's Largest Tech Fest: Parul University's Projections 2023 Provides a Platform to Develop Futuristic Technologies

  • Technology brought young innovative minds together once again as Vadodara-based Parul University hosted the latest edition of Gujarat's largest tech fest, Projections 2023. This year's (2023) Projections gave a platform to tech enthusiasts and technologically driven individuals across the state and the country to showcase their skills and talents. The festival saw immense participation from youth in a myriad of technical and non-technical events, games, and workshops. With over 10,000 participants from more than 15 states and more than 45,000+ viewers, the tech fest was buzzing with talented innovators.
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LAW AND CONSTITUTIONAL AFFAIRS

HCs of Madras, Allahabad Get 4 Additional Judges

  • The Centre notified the appointment of four advocates as additional judges in the High Courts of Allahabad and Madras.
  • Advocates Prashant Kumar, Manjive Shukla and Arun Kumar Singh Deshwal were appointed as additional judges of the Allahabad High Court in that order of seniority for a period of two years.
  • The Centre also notified the appointment of advocate Venkatachari Lakshminarayanan as an additional judge of the Madras High Court.
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