CURRENT AFFAIRS SNIPPETS 05th April 2022

 

CURRENT AFFAIRS SNIPPETS

05th April 2022

NATIONAL NEWS

MP CM launches scheme to give loans up to ₹50 lakh for self-employment

Madhya Pradesh CM Shivraj Singh Chouhan on Tuesday launched the 'Udyam Kranti Yojana' in order to facilitate self-employment for the youth. Under the scheme, a loan guarantee of ₹1 lakh to ₹50 lakh will be provided with subsidies on interest rate for self-employment. Around one lakh youth are expected to benefit from the scheme in the financial year 2022-23.

Rajya Sabha passes bill to unify 3 municipal corporations of Delhi

The Rajya Sabha on Tuesday passed the Delhi Municipal Corporation (Amendment) Bill, 2022, through a voice note. The bill seeks to unify three municipal corporations of Delhi. The bill was tabled in Rajya Sabha by Union Home Minister Amit Shah, who claimed the AAP government in Delhi gave step-motherly treatment to north, south and east Delhi municipal corporations.

US-based Triton to set up ₹10,800 cr EV manufacturing plant in Gujarat

Triton EV has signed a memorandum of understanding (MoU) with the Gujarat government to set up a ₹10,800 crore electric commercial vehicle production plant in Kutch. Initially, ₹1,200 crore will be invested by the company during FY23 for setting up the facility on a 645 acre plot in Bhuj. The unit will have annual production capacity of 50,000 trucks.

 

 

 

International News

US seeks to suspend Russia from UN Human Rights Council

US Ambassador to the UN Linda Thomas-Greenfield said the US will seek to suspend Russia from the UN Human Rights Council. "We believe that the members of the Russian forces committed war crimes in Ukraine, and we believe that Russia needs to be held accountable," Thomas-Greenfield said. "Russia's participation on the Human Rights Council is a farce," she added.

Will impose sanctions on 9 Russian, 9 Belarusian individuals: Canada

Canada on Monday said it will impose sanctions on nine Russian and nine Belarusian individuals that are close associates of the Russian and Belarusian regimes following Russia's invasion of Ukraine. "By enabling Vladimir Putin's senseless invasion of Ukraine, these close collaborators of the regime are complicit in the horrific events unfolding before our eyes," Foreign Minister Melanie Joly said.

Moldova needs international support to cope with Ukraine crisis: PM

Moldova PM Natalia Gavrilita said on Tuesday that the country requires international support to cope with the influx of refugees from neighbouring Ukraine amid the ongoing Russian invasion. Gavrilita added that Moldova, which is hosting about 1 lakh Ukrainian refugees, requires financial assistance. Germany has said it will aid Moldova in reducing its economic and financial dependence on Russia.

 

Kuwait's govt resigns ahead of no-trust vote amid political crisis

The Kuwaiti government on Tuesday resigned ahead of a no-confidence vote in the Parliament against the Prime Minister. Notably, this is the country's third collective government resignation in the past year and a half. The worsening political crisis has blocked critical economic and social reforms in the Gulf country, according to The Associated Press.

 

 

US isn't seeking a 'divorce' from China: US trade chief

The US is seeking to realign its commercial ties with China in line with its policies focused on "realignment in the global economy", rather than seek a "divorce", Katherine Tai, the US Trade Representative, said. "I'd focus really on the kinds of changes that we're trying to bring, which are really not about stopping trade or trade divorce," she added.

 

Viktor Orban wins Fourth Term as Prime Minister of Hungary 

Hungarian Prime Minister, Viktor Orban won a fourth successive term in office by a landslide victory in the country’s general elections for 2022. His right-wing Fidesz party secured 53.1% of the total 98% of the count complete. The 58-year-old is already the longest-serving head of government in the EU, since assuming the role of Prime Minister in May 2010.  The 58-year-old, already the longest-serving head of government in the EU, was challenged by six united opposition parties seeking to roll back the "illiberal" revolution Orban's Fidesz party has pursued during 12 consecutive years in office.

UN Human Rights Council names Tuvalu negotiator Dr Ian Fry as climate expert

The United Nations Human Rights Council (UNHRC) has appointed Dr Ian Fry as the world’s first independent expert for human rights and climate change. Dr Fry has been appointed for a period of three years. He holds dual citizenship of Tuvalu and Australia. The first to hold the post will be Ian Fry, who holds both Australian and Tuvaluan nationality.  He has negotiated on behalf of least developed countries including at the 2015 Paris climate conference where he helped ensure that human rights were part of the final package.  The position of Special Rapporteur for human rights and climate change was created by UNHRC in October 2021.  The new independent expert will have the mandate to “study and identify how the adverse effects of climate change, including sudden and slow-onset disasters, affect the full and effective enjoyment of human rights and make recommendations on how to address and prevent these adverse effects”.

Banking , Business and Economy

 

The Tata Group is preparing to unveil its super app

On April 7, the Tata Group will launch Neu, its much-anticipated super app. This software will be available for download through the Google Play Store. The Tata Group's key goal is to expand its digital division so that it can compete with market leaders like Amazon, Flipkart, and Reliance Group's JioMart.  Tata Neu is an all-in-one platform that brings together all of the company's services into a single app.  Exclusive offers, incentives, and more will be available through the app. It's a one-stop-shop for a hassle-free buying and payment process.  Tata Pay allows users to pay for items and bills both online and in-store in real-time.  According to the information provided on the Play Store, the Tata Neu app pays users for shopping, booking flights and hotels, and other activities.
Tata Neu App gives Neu Coins as an incentive for spending, which can be exchanged for other services.

 

HDFC Bank adjudged as Best Performing Bank in SHG Linkage by DAY-NRLM

HDFC Bank Limited has been adjudged Best Performing Bank in Self Help Group (SHG) Linkage by Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM).  Ministry of Rural Development, Government of India at the event organised at the Vigyan Bhavan, New Delhi. HDFC Bank is the only private bank to be honoured with the award for their contribution in SHGs by NRLM.  Giriraj Singh, Union Minister of Rural Development presented the award to K Venkatesh, Head of Sustainable Livelihood Initiative of HDFC Bank.  National Rural Livelihoods Mission (NRLM) was launched by the Ministry of Rural Development (MoRD) in June 2011 is a poverty alleviation project. This rural income generation scheme is also known as Aajeevika Mission.

RBI fixed WMA limit for States/UTs at Rs 47,010 crores

The Reserve Bank reduced the Ways and Means Advances (WMA) for states and union territories to Rs 47,010 crore from Rs 51,560 crore on Friday, citing an improvement in the economic scenario. WMAs are short-term loans provided by the RBI to the government to help it deal with any discrepancies between receipts and payments.  Due to the uncertainty surrounding COVID-19, the RBI increased the WMA limit for all states to Rs 51,560 crore. The new WMA was in effect until March 31, 2022.  RBI stated it has decided to revert to the WMA limitations and deadlines for Over Draft (OD) for state governments / UTs, as recommended by the Advisory Committee on Ways and Means Advances to State Governments, following a review of the limits and in light of the gradual easing of COVID-19 restrictions.  The Special Drawing Facility (SDF) used by state governments and UTs would continue to be linked to the amount of marketable securities issued by the government of India, such as Auction Treasury Bills, according to the RBI (ATBs).  The interest rate on SDF, WMA, and OD will continue to be linked to the Reserve Bank's policy rate, the repo rate.  The Government of India's WMA limit for the first half of fiscal year 2022-23 has been set at Rs 1,50,000 crore.

SEBI has announced an ideathon Manthan to foster innovation in the securities business

As she launched an ideathon to promote innovation, Sebi Chairperson Madhabi Puri Buch said that India is ideally positioned to harness technology in the securities market to give bespoke solutions at a very low cost to individuals across the country.  Buch stated at the start of the ideathon 'Manthan' that the implementation of financial technology (FinTech) in the securities market offered tremendous prospects for all parties involved.  Sebi, in collaboration with BSE, NSE, NSDL, CDSL, KFintech, CAMS, LinkInTime, and MCX, is hosting a six-week ideathon called Manthan. According to a press release released by Sebi, it will promote the formation of a pool of ideas and creative solutions centred on the securities market.  Through a hackathon, workable ideas from Manthan, which were unveiled at an event in Mumbai on Wednesday, may be turned into possibilities and prototypes.

HP acquires Poly with the goal of becoming a full-service hybrid work ecosystem provider

HP has completed its acquisition of Poly for $1.7 billion in an all-cash deal worth $3.3 billion when debt is factored in. Poly is a manufacturer of office communication devices such as headsets, AV conference room equipment such as desk phones, and software.  The decision comes eight months after HP acquired Teradici, a remote desktop software supplier, with the goal of accelerating HP's entrance into hybrid work. The resulting ecosystem will be able to deliver entire workforce solutions in a hybrid work environment that necessitates seamless transitions between office and home settings.  HP and Poly, according to Lores, establish a "leading portfolio of hybrid work solutions across big and expanding markets, with Poly's strong technology, complementary go-to-market, and experienced team helping to drive long-term profitable growth as we continue to build a better HP."

 

Flipkart Foundation launched for growth of rural area and women 

Homegrown e-commerce giant, The Flipkart Group has constituted and launched the Flipkart Foundation, a new platform with a focus on development in rural areas and providing equitable access to growth opportunities for women and other disadvantaged communities.  The Flipkart Foundation aims to positively influence 20 million lives directly and indirectly in the coming decade across a wide array of areas by utilising Flipkart’s learnings over the years.  The operations of the Flipkart Foundation will be grant-based. The contributions will come from the Flipkart Group and through the ‘Charity Checkout’ feature available on Flipkart platforms.  The Flipkart Foundation will engage with diverse stakeholders to enable transformational development work for society and the economy, by offering support to underprivileged sections of society and making them a part of the country’s growth story.

Schemes News

Delhi government launched scheme to set up ‘Hobby Hubs’ in government schools

The Delhi government has set up Hobby Hubs for government schools in Delhi after school hours to promote extra-curricular activities. This project will implement in the single shift government school.  A project to set up ‘Hobby Hubs’ in government schools in Delhi with after-school dance, music, arts and crafts activities during this new academic session is in the works.  For the 2022-2023 academic session, this project will only be implemented in single shift government schools. The idea is to make optimum use of school infrastructure and to use it after school hours to promote these extra-curricular activities.

Sports News

 

World no. 2 Medvedev could be banned from playing Wimbledon this year

World number two Daniil Medvedev could be banned from playing Wimbledon this year as tournament officials are in talks with the UK government over a potential ban of Russian and Belarusian athletes. The All England Club, which hosts the Grand Slam tournament, could be allowed to ban Russian and Belarusian athletes without any legal repercussions due to its independent status.

 

Miami Open Tennis Tournament 2022 Overview

The 2022 Miami Open tennis tournament was the 37th edition of the men’s and women’s event, held from March 22 to April 3, 2022, in Miami Gardens, Florida.  Miami Open is classified as an ATP Masters 1000 event on the 2022 ATP Tour and a WTA 1000 event on the 2022 WTA Tour.

Here is the complete list of winners:

Award	Winner	Runner-Up
Men’s Single	Carlos Alcaraz (Spain)	Casper Ruud (Norway)
Women’s Single	Iga Swiatek (Poland)	Naomi Osaka (Japan)
Men’s Double	Hubert Hurkacz/John Isner	Wesley Koolhof/Neal Skupski
Women’s Double	Laura Siegemund/Vera Zvonareva	Veronika Kudermetova/Elise Mertens

Books and Authors News

A new book titled “Queen of Fire” authored by Devika Rangachari

Award-winning children’s writer and historian, Devika Rangachari has authored a new novel titled “Queen of Fire”, which explores the story of Rani Lakshmibai of Jhansi. The book focuses on the journey of Rani Lakshmibai as a queen, soldier, and statesman.  The book provides a detailed account on how the queen took over the kingdom as a widow and joined the revolutionaries to rebel against the East India Company. Devika Rangachari is a historian who has conducted post-doctoral research on gender in early medieval Indian history.

Important Days

National Maritime Day 2022 observed on the 5th April

National Maritime Day in India is observed on 5 April every year. This year is the 59th edition of the National Maritime Day.  The National Maritime Day is celebrated every year day to illustrate the awareness in supporting intercontinental commerce and the global economy as the most well-organized, safe and sound, environmentally responsive approach of transporting goods from one corner to another corner of the world.  On this day ‘NMD Award of Excellence’ is usually given during the celebrations and there is a trophy and citation, given to recognize and honour individuals for their lifetime distinguished and exceptional achievements and performances in the Indian Maritime sector at a senior level.  The theme of the National Maritime Day is “Sustainable Shipping beyond Covid-19’’.

Obituaries News

Pulitzer Prize-winning American poet Richard Howard passes away

Pulitzer Prize awardee American poet, Richard Howard passed away at age of 92. Richard Joseph Howard was born on 13 October 1929 in Cleveland, Ohio, United States (US). He was an American poet, literary critic, essayist, teacher, and translator.  Howard won the Pulitzer Prize in 1970 for ‘’Untitled Subjects’’ and was a National Book Award Finalist in 2008 for ‘’Without Saying’’. His translation of Charles Baudelaire’s “Les Fleurs du Mal” won the National Book Award (then called the American Book Award) in 1983.

 

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