DAILY CA 17 SEP

 DAILY CA 17 SEP

1.              GAYAJI DAM - INDIA’S LONGEST RUBBER DAM ON FALGU RIVER

·                Bihar Chief Minister (CM) Nitish Kumar inaugurated India’s longest rubber dam ‘Gayaji Dam’ on the Falgu (or Phalgu) river, near Vishnupad temple in Gaya, Bihar.

·                A steel foot over bridge for the visitors who visit during Pitripaksha Mela was also inaugurated.

·                The dam has a bulletproof structure with rubber sheets laid at the bottom that does not allow it to deteriorate for almost 100 years.

·                The Dam was constructed by Rubina Company of Austria in collaboration with Nagarjuna Construction Company of Hyderabad and on the advice of experts from Indian Institute of Technology (IIT), Roorkee at an estimated cost of Rs. 324 crore.

·                Falgu River originates in the Palamu district of Jharkhand and passes through the holy city of Gaya in Bihar.

 

2.              SOVA ANDROID TROJAN: NEW MOBILE BANKING MALWARE

·                A new type of mobile banking malware campaign called SOVA Android Trojan(SOVA – owl in Russian) has now reached India. This malware encrypts an Android phone for ransom and is hard to uninstall.

·                It has the ability to harvest user names and passwords via keylogging, stealing cookies and adding false overlays to a range of famous apps.

·                SOVA is essentially a banking malware but is capable of distributed denial-of-service (DDoS) and man-in-the-middle (MITM) attacks.

·                CERT-In (the Indian Computer Emergency Response Team) has issued an advisory for SOVA malware to be active in India.

 

3.              INDIA NIGERIA JOINT MARITIME EXERCISE

·                Indian Naval Ship (INS) Tarkash took part in a Joint Maritime Exercise with Nigerian Navy Patrol Ships (NNS), at Port Lagos, Nigeria

·                During the exercise, Nigeria was represented by its NNS Kano, Osun, Sokoto and Nguru.

·                The exercise marked India and Nigeria’s first joint operational deployment focusing on anti-piracy operations in the GOG.

·                INS Tarkash (F50) is the second Talwar-class frigate constructed for IN at the Yantar shipyard in Kaliningrad, Russia.

 

4.              3RD GLOBAL CRYPTO ADOPTION INDEX 2022

·                As per the Chainalysis, ‘The 2022 Global Crypto Adoption Index: Emerging Markets Lead in Grassroots Adoption, China Remains Active Despite Ban, and Crypto Fundamentals Appear Healthy’, Vietnam is ranked first in cryptocurrency adoption for the second consecutive year with an overall index ranking of 1.

·                India stood at 4th with an index score of 0.663.

·                Vietnam is followed by Philippines with an overall index ranking 2, and overall index score of 0.753, and Ukraine at 3rd with overall index score of 0.694.

·                In India, much of the adoption was done by NFT (Non-fungible tokens) marketplaces, such as the Tiger Global, and Sequoia-backed company FanCraze, which launched in early 2022 to sell cricket-based NFTs.

 

5.              RBI ALLOWS BBPS TO PROCESS CROSS-BORDER INBOUND REMITTANCES

·                The Reserve Bank of India (RBI), decided to allow foreign inward remittances received under the Rupee Drawing Arrangement (RDA), to be transferred to the KYC (Know Your Customer) compliant bank account of the biller (beneficiary) through Bharat Bill Payment System (BBPS), subject to the conditions.

·                Currently, foreign inward remittances received under RDA can be transferred to the KYC compliant beneficiary bank accounts through electronic mode, such as, NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service), etc.

·                RDA is a channel to receive cross-border remittances from overseas jurisdictions. Under this, the Authorised Category I banks can collaborate with the non-resident Exchange Houses in the FATF (Financial Action Task Force) compliant countries to open and maintain their Vostro Account.

·                It is an account a correspondent bank holds on behalf of another bank.

·                BBPS is a RBI mandated system which offers integrated and interoperable bill payment services with certainty, reliability and safety of transactions

 

6.              INDIA EMERGES AS SRI LANKA’S TOP LENDER IN 2022

·                According to the Verite Research, a Colombo-based independent interdisciplinary think-tank, India has become Sri Lanka’s biggest lender in 2022, providing a loan of USD 377 million as it faced political crisis and economic unrest.

·                The Asian Development Bank (ADB) is the largest multilateral lender to Sri Lanka providing USD 360 million in loans that accounts for 76 percent of total disbursements from January 2022 to April 2022.

·                Out of a total disbursement of loans to Sri Lanka amounting to USD 968 million from January 2022 to April 2022, India has contributed USD 377 million, which made India to become the largest bilateral lender for Sri Lanka’s.

·                India also provided a dedicated credit line for fuel imports amounting to USD 700 million in June 2022.

·                China was the largest bilateral lender to Sri Lanka between 2017 and 2021, providing USD 947 million, out of which USD 809 million were borrowings from the China Development Bank.

 

7.              FEDERAL BANK BECOMES ONLY INDIAN BANK AMONG BEST WORKPLACES IN ASIA 2022

·                The Federal Bank Ltd was ranked 63rd on the Best Workplaces in Asia 2022 and became the only bank in India to be listed by Great Place to Work, the global authority on building, sustaining and recognizing High-Trust, High-Performance Culture at workplaces.

·                According to Great Place to Work India data, 88% of employees at the best workplaces in Asia on average reported having a positive employee experience.

 

8.              BENGALURU’S PRANAV ANAND BECOMES INDIA’S 76TH CHESS GRANDMASTER 

·                15-year-old, Pranav Anand from Bengaluru, Karnataka became India’s 76th Chess Grand Master (GM) after winning against International Master (IM) Emin Ohanyan of Armenia in the ongoing World Youth Chess Championship in Mamaia, Romania.

·                A month before PranavAnand became India’s 76th GM,PranavVenkatesh became India’s 75th Grandmaster.

·                In order to qualify for the GM title, a player must secure 3 GM norms covering 27 games and cross the live rating of 2,500 Elo points.

·                .Grand Master is the highest title apart from World Champion awarded to Chess players International Chess Federation FIDE.

·                India’s 1st Chess GrandMaster was won by Viswanathan Anand at the age of 14 in 1988.

 

9.              INTERNATIONAL DAY FOR THE PRESERVATION OF THE OZONE LAYER 2022- SEPTEMBER 16

·                The United Nations (UN)’s International Day for the Preservation of the Ozone Layer is annually observed across the globe on September 16 to bring attention to the ozone layer and the dangers of ozone depletion.

·                This day is also known as ”World Ozone Day’‘ or ‘’Global Ozone Day’’.

·                The theme of International Day for the Preservation of the Ozone Layer 2022 is “Montreal Protocol@35: Worldwide Collaboration Safeguarding Life On Earth”.