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11th March 2022

International News

Russian space agency head bars employees from leaving country: Report

short by Atharva Pande / 07:46 pm on 11 Mar 2022,Friday

Dmitry Rogozin, Head of Russian space agency Roscosmos prohibited agency employees from travelling abroad in order to curb brain drain, reported Kamil Galeev, a Moscow-based journalist. This comes as skilled professionals from IT, engineering, and hard sciences are leaving en masse, Galeev added. Reportedly, border guards are instructed to stop IT engineers, specialists from leaving the country.

Putin fires 8 generals, is furious over losses in war: Report

short by Daisy Mowke / 08:51 pm on 11 Mar 2022,Friday

Russian President Vladimir Putin has sacked 8 generals and is furious at his intelligence officials over Moscow's losses in war, Ukraine's Defence Secretary Oleksiy Danilov claimed. He was quoted as saying by a Ukrainian newspaper that Russia has changed its tactics. The Russians never thought that Ukraine "is so united", said Danilov, adding that the road ahead "won't be easy".

Chinese Premier Li Keqiang says he will step down next March

short by Shailesh / 10:20 pm on 11 Mar 2022,Friday

China's Premier Li Keqiang on Friday said that he plans to step down after his current term expires next March. Li is number two in the hierarchy of ruling Communist Party's Politburo Standing Committee. Reportedly, President Xi Jinping is expected to secure a precedent-breaking third term as party chief at a party meeting to elect leaders for next five years.

36-yr-old Gabriel Boric sworn in as Chile's youngest President

short by Shailesh / 11:08 pm on 11 Mar 2022,Friday

Gabriel Boric was sworn in as Chile's youngest President on Friday, with delegations from the US, Spain, Argentina, Peru and others in attendance. Boric's female-majority Cabinet was also sworn in today. An economic slowdown, high inflation and a split legislature are among the challenges that the 36-year-old faces, according to Reuters.




Hungary elects first-ever female president

The Hungarian parliament has elected Katalin Novak, a close ally of Prime Minister Viktor Orban, as the EU member’s first-ever female president. Novak, who most recently served as a minister for family policy, portrayed her election as a victory for women.  She was elected to the mostly ceremonial role by 137 votes to 51 in the parliament dominated by Orban’s right-wing Fidesz party ahead of opposition challenger Peter Rona, an economist.  Novak will succeed Janos Ader, a co-founder of Orban’s governing right-wing Fidesz party who has held the job since 2012. She will take office after Ader’s term expires May 10.

Yoon Suk Yeol elected as new South Korean President 

Yoon Suk-yeol has been declared as the winner of the 2022 South Korean presidential election to be elected as the new President of the country. He is scheduled to assume office as president on May 10, 2022, for a fixed term of five years. Yoon Suk-yeol will succeed incumbent President Moon Jae-in.  With more than 98 per cent of the ballots counted, Yoon had 48.6 per cent of the votes against his rival Lee Jae-Myung's 47.8 per cent. Yoon is to take office in May and serve a single five-year term as leader of the world’s 10th-largest economy.

IMF board approves $1.4 billion emergency support for Ukraine

The International Monetary Fund (IMF) has approved $1.4 billion in emergency support for Ukraine to finance expenditures and shore up the balance of payments. Ukraine has turned to financing from allies and international institutions to support its economy after the Russian invasion began on February 24.  The disbursement under the IMF’s Rapid Financing Instrument (RFI), equivalent to 50% of Ukraine’s quota in the IMF, will help fund urgent spending needs in the short term, while helping to catalyze financing from other partners.


KTR inaugurates theme park, crematorium in Hyderabad's Uppal

short by Shreya Das / 06:54 pm on 11 Mar 2022,Friday

Telangana IT Minister KT Rama Rao on Friday inaugurated multiple new projects in Hyderabad's Uppal constituency including a theme park. The theme park at Uppal junction has been developed by Greater Hyderabad Municipal Corporation at a cost of ₹2.17 crore. Rao also inaugurated a modern crematorium called Vaikuntadhamam and laid foundation stones for a sewage treatment plant and a flyover.



Pune Int'l Film Festival concludes; Potra wins best Marathi Film award

short by Dharini Mudgal / 07:07 pm on 11 Mar 2022,Friday

The 20th edition of the Pune International Film Festival concluded at the National Film Archive of India on Thursday. While 'Potra' won the Best Marathi film title award, the Spanish film 'Between Two Dawns' won the Best International Film award in the Global Cinema Competition. "This year, we received...80 entries in...Marathi film competition category," PIFF Chairman Jabbar Patel said.



3rd National Youth Parliament Festival (NYPF) begins in New Delhi

The 3rd edition of the National Youth Parliament Festival (NYPF) has been organised jointly by the Lok Sabha Secretariat and the Ministry of Youth Affairs and Sports on March 10 and 11, 2022, in the Central Hall of Parliament, New Delhi.  Union Sports Minister Anurag Thakur will address the inaugural session of NYPF on March 10, while the Lok Sabha Speaker Om Birla will address the valedictory function on March 11.  The objective of the NYPF is to hear the voice of the youth, between 18 and less than 25 years of age, who will join various careers in the coming years, including public services. The top three National level youth winners will get an opportunity to speak before the Lok Sabha Speaker during the valedictory function.

Science and Technology News

Union Minister of Power launches Virtual Smart Grid Knowledge Center

As part of the Azadi ka Amrit Mahotsav Program, Union Minister for Power R.K. Singh launched the Virtual Smart Grid Knowledge Center (SGKC) and Innovation Park. Krishan Pal Gurjar, Minister of State for Power, was also in attendance.  POWERGRID established the Smart Grid Knowledge Center (SGKC) to demonstrate and advance cutting-edge smart grid technologies.  SGKC aspires to be one of the world's top centres of excellence for smart grid technology innovation, entrepreneurship, and research, as well as building capacity in the power distribution industry.  The Virtual SGKC, which was introduced today, allows for a digital footprint of the real SGKC, which was needed during the COVID-19 epidemic.

Ranking and Reports News

Skoch State of Governance ranking 2021: Andhra Pradesh gets first rank

Andhra Pradesh has retained its number one spot in the SKOCH State of Governance rankings for the second consecutive year. According to a release, the State retained the first rank for the second consecutive year. In 2020 too, Andhra Pradesh bagged top rank in governance. Andhra Pradesh was ranked at second position in 2018 and later it slipped to 4th position in 2019, according to Skoch.  The second rank was bagged by West Bengal and Odisha was ranked 3, Gujarat was ranked 4 and Maharashtra was ranked 5. Neighbouring Telangana was ranked 6.  The SKOCH Group has released the SKOCH Governance Report Card for 2021 in New Delhi, ranking the states according to their performance in various projects at state, district, and Email Article Print Article municipal levels.

Schemes and Committees News

National Land Monetization Corp approved by cabinet

Union Cabinet, led by Prime Minister Narendra Modi, approved the establishment of the National Land Monetization Corporation (NLMC) as a wholly-owned Government of India corporation with an initial authorised share capital of 5000 crores and a paid-up share capital of 150 crore.  The National Land Management Corporation (NLMC) would monetize surplus land and building assets owned by Central Public Sector Enterprises (CPSEs) and other government organisations. The idea is in accordance with the 2021-22 Budget Announcement.  The monetization of excess land and side assets is critical for CPSEs experiencing strategic disinvestment so that their value can be unleashed. Monetization of the assets will be taken care of and carried out by NLMC.

Haryana’s CM announced ‘Sushma Swaraj Award’ for women

Haryana Chief Minister, Manohar Lal Khattar, while presenting the state budget, has announced a ‘Sushma Swaraj Award’ for women for their significant achievements or contribution in different walks of life in the international and national spheres. The Sushma Swaraj Award will carry an award money of Rs 5 lakh along with a commendation.  Sushma Swaraj was a lawyer of the Supreme Court as well as an Indian politician. She was a senior member of the Bharatiya Janata Party, served as India’s Minister of External Affairs during the first Narendra Modi government (2014–2019). After Indira Gandhi, she was the second woman to occupy this position.

Karnataka government launched ‘Women@Work’ programme

The government of Karnataka has launched ‘Women@Work’ program to provide five lakh jobs within 2026 to women with necessary employable skills. The program aims to focus on the efforts of corporate programs on attracting women workforce.  It has been developed by Karnataka Digital Economy Mission (KDEM) in association with KTECH, Karnataka Skill Development Corporation. It will act as an enabler for women to actively participate and join the workforce through industry upskilling.  All efforts are being made to provide 5,000 jobs for women as part of the Karnataka Digital Economy Mission and added that the government is keen to actualise this mission in the coming days.

Ashwani Bhatia (SBI MD) appointed as SEBI member

The cabinet has appointed Ashwani Bhatia, managing director (MD) of the State Bank of India (SBI), as a whole-time member (WTM) of the Securities and Exchange Board of India (SEBI).  According to some sources, the Appointments Committee of the Cabinet (ACC) has also approved Ashwani Bhatia's appointment as a whole-time member of SEBI for three years from the date of his assumption of the command.  According to the sources, with Ashwani Bhatia's appointment as a Whole-time member, the Securities and Exchange Board of India now only needs to appoint one Whole time member.  In August 2020, Ashwani Bhatia, who will be retiring in May 2022, that is this year, was promoted to the post of managing director of State Bank of India.

Banking, Business and Economy News


Paytm Payments Bank stopped by RBI from onboarding new customers

short by Daisy Mowke / 06:05 pm on 11 Mar 2022,Friday

RBI has directed Paytm Payments Bank Ltd to stop onboarding of new customers with immediate effect. "The bank has also been directed to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system," an order read. "Onboarding of new customers...will be subject to specific permission granted by RBI after reviewing report of...IT auditors," it said.

Ex-Financial Services Secretary Debasish Panda appointed IRDAI Chairman

short by Hiral Goyal / 07:39 pm on 11 Mar 2022,Friday

The government on Friday appointed Debasish Panda as Chairman of Insurance Regulatory and Development Authority of India (IRDAI). The appointment comes nearly 11 months after the post fell vacant following the completion of Subhash Chandra Khuntia's term in May last year. Panda is a 1987-batch IAS officer of the Uttar Pradesh cadre who retired as Financial Services Secretary this year.

Byju Raveendran invests $400 million in BYJU'S as it raises $800 million

short by Hiral Goyal / 08:15 pm on 11 Mar 2022,Friday

BYJU'S announced on Friday it has raised $800 million in a new funding round as the edtech startup prepares to file for an IPO. Its Co-founder and CEO Byju Raveendran has personally invested $400 million in the current round, which saw participation from Sumeru Ventures, Vitruvian Partners and BlackRock. BYJU'S is now valued at about $22 billion, as per reports.


NaBFID to be regulated as AIFI under RBI Act

Reserve Bank of India has announced that National Bank for Financing Infrastructure and Development (NaBFID) will be regulated and supervised by it as an All India Financial Institution (AIFI) under the RBI Act, 1934. NaBFID will be regulated and supervised by RBI as an AIFI under Sections 45L and 45N of the Reserve Bank of India Act, 1934.  Presently RBI has four AIFIs under it namely EXIM Bank, NABARD, NHB and SIDBI. NaBFID will be the fifth AIFI under RBI. NaBFID has been set up as a Development Financial Institution (DFI) to support the development of long-term infrastructure financing in India.

Star Health and Allied Insurance launched ‘Star Women Care Insurance Policy’

Star Health and Allied Insurance Company Limited, a health insurance company launched "Star Women Care Insurance Policy". It is a woman-centric comprehensive health cover specially designed to protect the healthcare needs of women at every stage of their lives.  The policy can be purchased through premiums that can be paid in quarterly or half-yearly instalments, and this policy can also be taken for 1 year, 2 year or 3-year terms.  The Star Women Care Insurance Policy is available as both an individual policy and a floater policy. Individual Sum– Insured only for females aged between 18 years and 75 years. Floater Sum Insured – Adult 18 years to 75 years with at least one female in the family along with the spouse and dependent children.

CRISIL projected GDP growth forecast at 7.8% for 2022-23

Domestic rating agency CRISIL retained its real GDP growth forecast at 7.8% for the fiscal year 2023, as compared with the 8.5% projected in the Economic Survey.  FM Nirmala Sitharaman’s Budget proposals focused on loosening the purse strings by boosting capital expenditure and going slow on fiscal consolidation are aimed in the right direction.  The agency expects the nominal growth to come at 12-13%, higher than the 11.1% Budget Estimate, and the headline inflation to average 5.2%.

Sports News

India finishes at the top in 2022 ISSF World Cup

India has taken first place in the medal standings at the ISSF World Cup 2022 in Cairo, organised by the International Shooting Sport Federation. By winning a total of seven medals, the Indian team took first place in the medals tally, with four gold, two silver, and one bronze.  Norway took second place in the medals tally with six medals (three gold, one silver, and two bronze). France came in third place with three gold medals out of a total of twenty.

Famous Golfer Tiger Woods inducted into World Golf Hall of Fame

Famous Golfer, Tiger Woods was formally inducted into the World Golf Hall of Fame. The 46-year-old Woods entered the storied hall as part of the Class of 2022 along with retired PGA Tour commissioner Tim Finchem, U.S. Women's Open champion Susie Maxwell Berning and Marion Hollins, a U.S. Women's Amateur champion and golf course architect who was recognised posthumously.  During his career, Woods has broken many golfing records, establishing himself as arguably the greatest golfer of all time. He has won 15 majors, surpassed only by Jack Nicklaus' 18,  as well as a joint-record 82 wins on the PGA Tour.

 Books and Authors News

Sharad Pawar unveiled Ratnakar Shetty’s autobiography "On Board: My Years in BCCI"

A book titled "On Board: My Years in BCCI", an autobiographical account of Ratnakar Shetty’s experiences as an administrator.  The book was released by Sharad Pawar, the former president of the MCA, BCCI and International Cricket Council. Shetty, a Chemistry professor by profession, went on to be the BCCI’s first Chief Administrative Officer after serving the Mumbai Cricket Association in various capacities.

Important Days

International Day of Women Judges: 10 March

March 10 marks the International Day of Women Judges. On this day, the United National reaffirms its commitment to develop and implement appropriate and effective strategies and plans for the advancement of women in the judicial system and institution at the managerial and leadership level.  UN’s Sustainable Development Goal 5 is Gender Equality and Empowerment of Women and Girls. Their goal is to achieve progress across all Development goals and to add a gender perspective to the implementation of the 2030 Agenda. 



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