DAILY CA 14 JUNE 2022

 

DAILY CA 14 JUNE 2022

1.       UDAN CELEBRATES 2022 AS ITS 5TH ANNIVERSARY YEAR

·         A Central Government scheme of Ude DeshkaAam Naagrik (UDAN) i.e. let the country’s typical person fly, is celebrating its fifth anniversary this year.

·         This first of its kind scheme, headed by the Ministry of Civil Aviation (MoCA), stimulates Regional Connectivity Scheme (RCS) through a market-based mechanism.

·         It ensures common man to commute between smaller cities in a short time, and at an affordable cost.

·         The Airports Authority of India (AAI) is its implementing agency.

 

2.       25TH FOUNDATION DAY OF BIMSTEC CELEBRATED

·         Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) celebrated the Foundation Day of BIMSTEC 2022 or BIMSTEC Day 2022 in Dhaka, Bangladesh.

·         6th June 2022 also marks the celebration of the 25th foundation Day of BIMSTEC, Silver Jubilee Anniversary(25th anniversary) of the foundation of BIMSTEC.

·         BIMSTEC was initially formed with 4 member states, Bangladesh, India, Sri Lanka and Thailand, with the acronym of BIST-EC(Bangladesh, India, Sri Lanka and Thailand Economic Cooperation). 

·         On 22nd December 1997, Myanmar was included into the economic bloc and the group was renamed as “BIMSTEC)

·         Following the inclusion of Nepal and Bhutan in February 2004, the group was renamed as “Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation” BIMSTEC. 

·         In 2014, the BIMSTEC Secretariat was established in Dhaka, Bangladesh.

 

3.       OMNICARD BECOMES 1ST RBI LICENSED PPI TO LAUNCH CASH WITHDRAWAL ACROSS ALL ATMS PAN INDIA

·         Payment solution provider OmniCard became the first Reserve Bank of India (RBI) licensed PPI (Prepaid Instrument) to launch a cash withdrawal facility using a RuPay-powered card from any ATM (Automated teller machine) through their e-wallet.

·         This decision came in after RBI permitted the non-bank licensed entities to enable cash withdrawals from the digital wallet.

·         The company worked with the National Payments Corporation of India (NPCI) team to enable the facility.

·         Sanjeev Pandey is the Co-Founder and Chief Executive Officer (CEO) of OmniCard.

 

4.       EVEREST GROUP: TCS RETAINED ITS 10TH POSITION

·         According to the estimates by the Everest Group, Tata Consultancy Services (TCS) has retained its 10th position among the top 10 Global Business Process Management (BPM) providers in 2021.

·         ADP has topped the list with a revenue of USD 10.5 billion, followed by Teleerformance, Accenture, Concentrix and Sitel Group.

·         The ranking is based on a composite score of revenue and year-on-year growth.

·         According to the Everest report, the top 5 fastest growing companies’ year-on-year were Tech Mahindra, Telus International, Majorel, Teleperformance and Comdata.

 

5.       HARINI LOGAN WON THE 2022 SCRIPPS NATIONAL SPELLING BEE 

·         Harini Logan(13-year-old) an Indian origin person from San Antonio, Texas, United States of America(USA) won the 2022 Scripps National Spelling Bee competition held in Gaylord National Hotel and Convention Center in National Harbor, Maryland, USA.

·         This marks the 94th edition of the Scripps National Spelling Bee.

·         The first edition of the competition was held in 1925.

·         Balu Natarajan was the first person of Indian origin to win the spelling bee competition in 1985.

·         Zaila Avant-Garde (2021 champion) became the 1st Black American and 1st Louisiana speller to win the Bee.    

 

6.       FORMULA ONE: MAX VERSTAPPEN WINS AZERBAIJAN GP

·         Red Bull’s Max Verstappen (Belgium) won the Azerbaijan Formula One Grand Prix 2022 held at Baku, Azerbaijan to extend his Formula One championship lead over Ferrari’s Charles Leclerc (Monaco).

·         Formula One championships are held by Federation Internationale de l’Automobile (FIA)

·         The 24-year-old Verstappen became the most successful driver in the Red Bull of all time and at present, he has 66 podiums for Red Bull and is tied 9th for the most race wins alongside Jim Clark and Niki Lauda.

·         FIA Headquarters – Paris, France

 

7.       WORLD DAY AGAINST CHILD LABOUR 2022 – JUNE 12 

·         The United Nations(UN)’s World Day Against Child Labour is annually observed across the globe on 12th June to create awareness about the harmful effects of child labour on individuals.

·         The theme of World Day Against Child Labour 2022 is “Universal Social Protection to End Child Labour”.

Background:

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DAILY CA 12,13 JUNE 2022

 DAILY CA 12,13 JUNE 2022

1.       UNCTAD: WORLD INVESTMENT REPORT

·         According to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report, India ranked 7th in the top 10 global economies for Foreign Direct Investment (FDI) in 2021 despite a decline in FDI investment.

·         FDI inflows have declined by USD 19 billion to USD 45 billion in 2021.

·         India ranked 7th after the US, China, Hong Kong, Singapore, Canada and Brazil.

·         Adding South Africa, Russia and Mexico to the list to round up the top 10 economies for FDI inflows in 2021.

·         UNCTAD Secretary General – Rebeca Grynspan,Headquarters – Geneva, Switzerland,Member states – 195 Countries

 

2.       RABAB FATIMA APPOINTED AS UNS UNDER SECRETARY GENERAL

·         United Nations (UN) Secretary General Antonio Guterres appointed Ambassador Rabab Fatima, Permanent Representative of Bangladesh as the Under Secretary General or Assistant Secretary General of the UN and also appointed as High Representative for the Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States (UN-OHRLLS).

·         She succeeds Courtenay Rattray of Jamaica who was appointed as the Chef de Cabinet.

·         UN Chief Appoints Indian Diplomat Amandeep Singh Gill As Envoy On Technology

 

3.       DAVINCI MISSION: NASA’S VENUS MISSION IS SET TO LAUNCH IN 2029 

·         NASA’s Venus Mission, Deep Atmosphere Venus Investigation of Noble gases, Chemistry, and Imaging (DAVINCI) mission named after visionary Renaissance artist and scientist Leonardo da Vinci is tentatively scheduled to launch in June 2029 and enter the atmosphere of Venus in June 2031.

·         DAVINCI, with Venus Oxygen Fugacity (VfOx), a miniature sensor, will measure the amount of oxygen present near the surface of Venus.

·         Venus is often referred to as the Earth’s Twin because of its similarity in size and density.

 

4.       NCPCR LAUNCHES “CISS APPLICATION” TO HELP REHABILITATION OF CHILDREN IN STREET SITUATIONS

·         The National Commission for the Protection of Child Rights (NCPCR) launched the  “CiSS application” under the Baal Swaraj portal to help in the rehabilitation process of Children in Street Situations. (CiSS).

·         The portal developed by NCPCR is a first-of-its-kind initiative in India to help children in street situations.

·         It follows six stages framework for the rehabilitation of children.

·         The initiative is taken under the direction of the Supreme Court of India.

·         This program incorporates Article 51 (A) of the Constitution of India, as it provides a platform to the public and organizations that support the welfare of the children to report any child in need of assistance.

 

5.       ISSF WORLD CUP

·         The International Shooting Sport Federation (ISSF) World Cup 2022 was held in Baku, Azerbaijan

·         India won a total of five medals, with 2 gold, 3 silver, and holds 5th position in overall championship.

·         First being the Republic of Korea with 5 Gold and 3 Bronze, Next comes the United States of America with 4 Gold 3 Silver and 1 Bronze.

·         Swapnil Kusale and Ashi Chouksey won gold 50m rifle 3 positions (3P) mixed team shooting event defeating Ukraine’s Serhiy Kulish and Daria Tykhova.

·         ISSF Headquarters – Munich, Germany

 

6.       NORWAY CHESS 2022

·         The 10th edition of the Norway Chess 2022 was held at Finansparken in Stavanger, Norway

·         Magnus Carlsen won the Armageddon against Bulgarian GrandMaster VeselinTopalov to keep the title for the fourth successive year and for the fifth time in 10 editions.

·         Viswanathan Anand won the final round against Norwegian chess player Aryan Tari to place 3rd

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DAILY GK : 10, 11 JUNE

 DAILY GK : 10, 11 JUNE

1.       NHAI SETS NEW GUINNESS WORLD RECORD

·         NHAI created a new world record in laying 75 kms of bituminous concrete in a single lane on NH53 between Amravati to Akola Districts in 105 hours and 33 minutes.

·         The corridor connects major cities like Kolkata, Raipur, Nagpur and Surat.

·         Union Minister for Road Transport and Highways Nitin Gadkari announced the target of constructing 60 kilometres of highway per day.

 

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DAILY GK: 8,9 JUNE

 DAILY GK: 8,9 JUNE

1.       MULTINATIONAL JOINT EXERCISE ‘EX KHAAN QUEST 2022′

·         Annual Multinational Peacekeeping Military Exercise ‘Ex Khaan Quest (KQ) 2022’ has commenced which is hosting by Mongolia at its Five Hills Training Area, near Ulaanbaatar.

·         Military contingents from 16 countries are being participating in this exercise.

·         Indian Army (IA) is represented by a contingent from the Ladakh Scouts.

 

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DAILY GK : 7 JUNE

 DAILY GK : 7 JUNE

1.       LIFESTYLE FOR THE ENVIRONMENT MOVEMENT

·         The Prime Minister of India Narendra Modi launched ‘Lifestyle for the Environment (LiFE) Movement’ via video conferencing, the idea of which introduced by him during the 26th United Nations Climate Change (UNCC) Conference of the Parties (COP26) in Glasgow in 2021.

·         The LiFE envisages the replacement of the prevalent economy of ‘use-and-dispose’ with a circular economy of ‘Reduce, Reuse and Recycle’.

·         There is a need to live a lifestyle in tune with our planet in order to make the environment sustainable.

·         The people opting this lifestyle are regarded as ‘Pro-Planet People (P3)’.

·         The framework ‘EAST’ that India, and other nations are using for behaviour change in connection with the environment and climate stands for Easy (E), Attractive (A), Social (S), and Timely (T).

·         During the conference, the leaders added new acronym to it i.e. FEAST where F stands for Fun.

·         It was coined by Cass Sunstein, Author of Nudge Theory and Behavioural Scientist at Harvard University, United States (US).

 

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DAILY GK : 5, 6 JUNE

 DAILY GK : 5, 6 JUNE

1.       CENTRAL GOVT APPROVES 8.1% EPF INTEREST RATE FOR 2021-22

·         The Central Government has officially approved 8.1% rate of interest on Employees’ Provident Fund (EPF) deposits for 2021-22, which is down by 40 basis points from 8.5% provided in 2020-21.

·         This new interest rate is the lowest since 1977-78(over four-decade low), when it stood at 8%.

·         This decision regarding interest rate cut was taken in March 2022 by Employees’ Provident Fund Organisation (EPFO).

·         The EPFO invests 85% of its annual accruals in debt instruments, including government securities and bonds, and 15% in equity through ETFs (Exchange-Traded Fund).

·         The earnings from both debt and equity are used to calculate the interest payment.

·         EPFO Parent Ministry– Ministry of Labour and Employment

·         Central Provident Fund Commissioner-CPFC (CEO of EPFO)– Neelam Shami Rao

 

2.       “SHRESHTA” SCHEME FOR MERITORIOUS STUDENTS OF SCHEDULED CASTES

·         Union Minister Dr. Virendra Kumar, Ministry of Social Justice and Empowerment (MoSJE), launched the Scheme for Residential Education for Students in High Schools in Targeted Areas (SRESHTA)

·         SHRESHTA was created in response to the Constitutional mandate to provide quality education and opportunities for even the poorest Scheduled Caste (SC) students.

·         The scheme will provide meritorious poor students from SC communities, whose parental income is less than Rs. 2.5 lakh per annum, with free access to a high-quality education (from Class 9 to 12).

·         Approximately 3,000 such students from various states and Union Territories (UTs) are selected each year under the scheme through a transparent mechanism called the National Entrance Test for SHRESHTA (NETS), which is conducted by the National Testing Agency (NTA).

·         The scholarships will be funded by GoI, which will cover the school fee (including tuition) and hostel fee (including mess charges) via Direct Benefit Transfer (DBT).

 

3.       INDIAN AIRFORCE HERITAGE CENTRE

·         Indian Air Force signed a Memorandum of Understanding (MoU) with Chandigarh administration for setting up of a Firs-of-its kind Indian Air Force Heritage Centre in Union Territory of Chandigarh.

·         Simulators, decommissioned aircraft, aero engines, and other IAF artefacts will be housed in this facility.

·         Chief of Air Staff: Vivek Ram Chaudhari(VR Chaudhari)

 

4.       INDIA & BANGLADESH ARE REBOOTING THEIR RAIL LINK

·         The passenger train services between India and Bangladesh were resumed with Bandhan Express (Kolkata, West Bengal, India to Khulna, Bangladesh) and Maitree Express (Dhaka, Bangladesh to Kolkata, West Bengal), 2 years after these trains were stopped on 28th March 2020, due to COVID-19 pandemic.

·         The Mitali Express, a 3rd train connecting New Jalpaiguri in North Bengal, West Bengal with Dhaka,Bangladesh will be flagged off in June 2022 by Railways ministers of both India and Bangladesh.

·         So far, 5 rail links have been rebooted between India and Bangladesh, which include Petrapole (India)-Benapole (Bangladesh), Gede (India)-Darshana (Bangladesh), Singhabad (India)-Rohanpur (Bangladesh), Radhikapur (India)-Birol (Bangladesh), Haldibari (India)-Chilahati (Bangladesh).

 

5.       KIYAVERSE: KIYA.AI LAUNCHES INDIA’S 1ST BANKING METAVERSE

·         India’s first banking metaverse namely ‘Kiyaverse’ has been launched by Kiya.ai in Mumbai, Maharashtra which intends to merge use cases of real-world banking with metaverse banking through an avatar (virtual humanoid) based interactions.

·         Kiyaverse will allow customers to transact, access banking information, and obtain various banking products virtually from the comfort of their own homes.

·         Metaverse is a network of 3D virtual worlds that uses augmented reality (AR), virtual reality (VR), and blockchain, along with concepts from social media, to create spaces for user interaction mimicking the real world.

·         It covers nearly everything, such as games, meetings, and shopping.

·         Companies that provide Metaverse development services to their global clients include Tech Mahindra (TechMVerse), Wipro, Accenture, Infosys.

 

6.       BLOOMBERG BILLIONAIRE INDEX: MUKESH AMBANI BECOMES ASIA’S RICHEST MAN

·         According to the Bloomberg Billionaire Index (as of 3rd June 2022), a daily ranking of the world’s richest people, Mukesh Ambani, Chairman and Managing Director(CMD) of Reliance Industries Limited (RIL) became the richest man in India as well as in Asia with a net worth of USD 99.7 billion, surpassing Gautam Adani, chairman and founder of the Adani Group whose net worth was at USD 98.7 billion.

·         Mukesh Ambani was ranked as the 8th richest man in the world whereas GautamAdani was ranked 9th on the list.

·         Elon Musk, Chief Executive Officer (CEO) of Tesla and SpaceX, remained the World’s richest man with a net worth of USD 227 Billion.

 

7.       FORBES THE REAL-TIME BILLIONAIRES LIST: ELON MUSK TOPS 

·         According to Forbes’ “The Real-Time Billionaires List” (as of 3rd June 2022), Elon Musk retains his position as the World’s Richest Person with a net worth of USD 233.7 billion.

·         Bernard Arnault and the family of LVMH(Moët Hennessy Louis Vuitton) is ranked 2nd with a net worth of USD 157 billion followed by Amazon’s founder Jeff Bezos with a net worth of USD 151.2 billion.

·         Mukesh Ambani has ranked 6th on the list with a total net worth of USD 104.7 Billion while GautamAdani has ranked 9th with a total net worth of USD 99.9 billion.

 

8.       SANGITA KALANIDHI AWARDS FOR 2020, 2021 & 2022 

·         The Music Academy, Chennai, Tamil Nadu, announced the winners of the Sangita Kalanidhi Awards for 2020, 2021 and 2022.

·         Neyveli R. Santhanagopalan, noted vocalist was selected for the Sangita Kalanidhi Awards 2020, Mridhangam Maestro Tiruvarur Bhaktavatsalam for 2021, and violinists Lalgudi GJR Krishnan and GJR Vijayalakshmi has been named the winners of 2022.

·         Sangita Kalanidhi, established in 1942, is considered the highest accolade in the field of Carnatic music.

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