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10th May 202 2

National News

Army chief Gen Manoj Pande receives Param Vishisht Seva Medal from Prez

Newly-appointed Army chief General Manoj Pande received the Param Vishisht Seva Medal from President Ram Nath Kovind on Tuesday. The medal is awarded to all ranks of the Indian Armed Forces to recognise exceptional peace-time service. The gallantry awards ceremony was held at Rashtrapati Bhavan in Delhi today.


Jan Suraksha Scheme completes 7 years of Social Security 

The Jan Suraksha scheme which was launched by prime minister Narendra Modi on 9th May 2015 completes 7 years of providing social security today.  Three Jan Suraksha schemes were launched by the prime minister, these schemes are Pradhan Mantri Jeevan Jyoti Bima Yojana, and Pradhanmantri Suraksha Bima Yojana, and Atal Pension Yojana.  Today the schemes complete 7 years of providing social security with the motto of recognizing the necessity to protect human life from risk and economic uncertainty.  The government has launched two insurance schemes Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana to ensure that the people from the unorganized sector of the nation are economically secure and the Atal Pension Yojana is to cover the needs of the elderly people in the country.

Tamil Nadu govt announced breakfast scheme for primary school students 

Tamil Nadu chief minister, MK Stalin has announced that all government primary school students from 1st to 5th standards will be provided nutritious breakfast on all working days.  Tamil Nadu is set to become the first state to offer breakfast along with midday meals. This includes the launch of integrated urban health centres within the Corporation and Municipal limits.  The schemes are a free morning breakfast scheme for government school students, a scheme to eradicate nutrition deficiency, the establishment of schools of excellence and primary health centres in urban areas and the expansion of ‘CM in Your Constituency’, a public grievances redress system, to all 234 constituencies.  The free breakfast scheme was launched based on the available information that the government school children skip breakfast while going to school because of the distance and family situations.

New Electoral Map released for Jammu and Kashmir 

A three-member Delimitation Commission redrawing the electoral map of Jammu and Kashmir allotted 47 Assembly seats for Kashmir division and 43 for Jammu in its final decision submitted barely a day before its two-year term was to end.  After the panel, led by retired Supreme Court judge Ranjana Prakash Desai, approved the final verdict, giving Jammu six additional seats and Kashmir one more, a gazette notification was released. Jammu had 37 Assembly constituencies and Kashmir had 46 before the restructure, which increased the overall number of Assembly seats in the Union Territory to 90.  Tangmarg has been renamed Gulmarg, Zoonimar has been renamed Zaidibal, Sonwar has been renamed Lal Chowk, Padder has been renamed Padder-Nagseni, Kathua North has been renamed Jasrota, Kathua South has been renamed Kathua, Khour has been renamed Chhamb, Mahore has been renamed Gulab. The Commission heard from Kashmiri migrants and displaced persons from Pakistan-occupied Jammu and Kashmir at the public hearing.

Alkesh Kumar Sharma appointed as Ministry of Electronics and IT's Secretary 

Alkesh Kumar Sharma, a senior IAS officer, has been named Secretary of the Ministry of Electronics and Information Technology (MeitY). He was previously the Cabinet Secretariat's secretary (Coordination).  Alkesh Kumar Sharma previously served as Kerala's additional chief secretary for industries from May 2020 to April 2021. Sharma served as the Managing Director of Kochi Metro Rail and the CEO of the Cochin Smart City Mission from September 2019 until April 2021.  Alkesh Kumar Sharma, an IAS official from Kerala, has his work cut out for him at MEITY. He will be in charge of ensuring that the $10 billion semiconductor incentive scheme to increase chip manufacturing and design facilities in the country is implemented smoothly.  He will also be responsible for putting MEITY's 1,000-day strategy into action, which aims to turn India into a $1 trillion digital economy in the next several years.  The Union ministry is tasked with becoming India the world's most connected nation, providing clarity to digital government, simplifying laws and legislation for technology and social media companies, and emphasising on India's high-tech expertise under the initiative.



Indonesian President plans to meet Musk over nickel supply

Indonesian President Joko Widodo is planning to meet Tesla CEO Elon Musk during a US visit this week, the country's Coordinating Minister Luhut Binsar Pandjaitan said. He added that Musk's representatives were currently in Indonesia and due to visit the nickel production hub of Morowali. Indonesia wants to enter the global supply chain of the EV industry, Luhut said previously.



BYJU'S buys Northwest Executive Education for $100 mn: Report

BYJU'S group company Great Learning has reportedly acquired Singapore's executive education firm Northwest Executive Education in a stock and cash deal of around $100 million. "BYJU'S is aggressively focusing on the higher education segment...Northwest Executive's acquisition will just add to it," a source told Moneycontrol. In February, Great Learning had bought out recruitment platform Superset.

Reliance became 1st Indian company to cross USD 100 bn annual revenue 

Reliance Industries become the first Indian company to record annual revenue of more than a whopping $100 billion. The company has recorded a 22.5% rise in net profit for the quarter ended March 2022.  Reliance has recorded strong growth in retail, digital services, and the oil & gas business. The company has also reported the highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs 33,968 crores (28% up) year-on-year.

Axis Bank awaits probe report on alleged mutual fund scam: Report

Axis Bank will wait for the report on an investigation into alleged front-running at Axis Mutual Fund (MF) before taking the final decision on penalising guilty officials, Moneycontrol reported. The allegations are being probed by two external agencies appointed by Axis MF. The probe was launched in February 2022, Axis MF MD and CEO Chandresh Nigam said on May 8.

Equity investors' wealth falls over ₹11.22 lakh crore in 3 days

Equity investors have become poorer by over ₹11.22 lakh crore in three days following a sell-off in markets amid weak global cues. Sensex fell for the third consecutive session on Tuesday, falling 1,337.38 points or 2.4% since Friday. Foreign institutional investors remained net-sellers on Monday, offloading shares worth a net ₹3,361.80 crore.

JSW Group will make a $7 billion bid for Ambuja Cements, ACC: Chairman

JSW Group's Chairman Sajjan Jindal told Financial Times that the steel-to-energy conglomerate will make a $7 billion bid for Holcim's India subsidiaries Ambuja Cements and ACC. JSW will offer $4.5 billion in its own equity and $2.5 billion from undisclosed private equity partners for the bid. It was earlier reported that Adani Group is in talks to acquire Holcim's assets.

India's outward FDI drops nearly 50% y-o-y to $3.39 bn in April

short by Ananya Goyal / 10:53 pm on 10 May 2022,Tuesday

India's outward foreign direct investment (OFDI) nearly halved to $3.39 billion in April on an annual basis, data released by the Reserve Bank of India (RBI) showed. In comparison, the OFDI stood at $6.71 billion in April 2021 and $3.44 billion in March 2022. The equity component in April was $544.87 million and loans amounted to $764.25 million.

Canara Bank detects frauds worth ₹3.9 cr in internal probe: Report

State-led Canara Bank is investigating fraud in its housing finance unit Can Fin Homes after a whistleblower alleged irregularities in certain accounts, Reuters reported quoting a source. The bank has detected frauds in 37 accounts worth ₹3.9 crore, the source said. They added that fake income tax return documents had been submitted for these accounts.

Awards News

Guruswamy Krishnamoorthy receives British Honour ‘MBE’ For His Service During the COVID-19 Pandemic 

Guruswamy Krishnamoorthy, CEO of Penlon, a world-class British medical technology firm, is likely to receive The Most Excellent Order of the British Empire (Civil Division) Award 2022 – Honorary Member of the Order of the British Empire (MBE) recognition from the Queen at Buckingham Palace, London, UK.  Guruswamy Krishnamoorthy hails from Madurai, Tamil Nadu, India. The British Honorary Awards are awarded twice a year, first during the new year and again in June, on the date of the Queen’s official birthday.  Guruswamy led a group of companies that formed a consortium with Penlon as its hub. In 12 weeks, 11,700 ventilators were provided to the United Kingdom government by employing around 4,000 people for three round-the-clock shifts. The effort also resulted in an award from the Royal Academy of Engineering, UK.

Pulitzer Prizes 2022 Announced: Complete List of Winners

The 106th class of Pulitzer Prize winners in Journalism, Books, Drama and Music were announced. The Pulitzer Prize is an award for achievements in newspaper, magazine, online journalism, literature and musical composition within the United States.  It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made his fortune as a newspaper publisher, and is administered by Columbia University.

Bengali translation 'Meursault, contre-enquête' wins Romain Rolland Book Prize 2022 

The fifth Romain Rolland Book Prize – Romain Rolland Book Prize 2022 has been awarded to the Bengali translation of the French novel “Meursault, contre- enquête” (The Meursault Investigation).  The award ceremony was organized by the French Institute in India. Meursault, contre-enquête is the debut novel of Algerian writer and journalist Kamel Daoud.  The award was presented to translator Trinanjan Chakraborty and publisher Esha Chatterjee of Patra Bharati, a leading publisher of prestigious Bengali books, during the French Literary Festival-French LitFest 2022 at Bikaner House in New Delhi on May 07, 2022. This is the first time Patra Bharati, the publisher, has gotten this honour.

Sports News

GT beat LSG to record their biggest win, become 1st team to qualify for IPL 2022 playoffs

GT defeated LSG by 62 runs to record their biggest win (by runs) in IPL 2022. With the win, GT moved to the top of the points table and became the first team to qualify for the IPL 2022 playoffs. Shubman Gill top-scored for GT with 63*(49), while their vice-captain Rashid Khan recorded bowling figures of 3.5-0-24-4.

Max Verstappen won Miami Grand Prix 2022

F1 world champion Max Verstappen has won the inaugural Miami Grand Prix for Red Bull after defeating the Ferrari rival Charles Leclerc.  Leclerc (Ferrari) finished second and Spanish teammate Carlos Sainz (Ferrari) placed third in the Miami Grand Prix 2022.  The victory cut Leclerc's lead over Verstappen to 19 points in the championship, while the Monegasque's Ferrari teammate Carlos Sainz completed the podium.

Anurag Thakur launches mascot, logo and jersey of Khelo India Youth Games

Union Sports Minister Anurag Thakur has launched the mascot ‘Dhakad’ along with the official logo and official jersey of the Fourth Khelo India Youth Games at Panchkula and lauded the effort of Haryana to host the games.  The competition is being organized by the Sports Authority of India and the state government of Haryana. In this edition of the Khelo India Youth Games, over 8,500 athletes will be participating.  Haryana will set an example by hosting the fourth edition of the Khelo India Youth Games from June 4 to June 13 at Panchkula, Chandigarh, Shahabad, Ambala and Delhi. This was supposed to be held in the year 2021 but got delayed due to the COVID-19 pandemic.

India's Avinash Sable breaks 30-year-old 5000 metre record

India's Avinash Sable broke a 30-year-old record of Bahadur Prasad in 5000m, setting a new national record with a timing of 13:25.65 at the Sound Running Track meet in San Juan Capistrano, USA. The 27-year-old from Maharashtra broke the old record of 13:29.70 set by Bahadur Prasad in 1992.  Sable’s growth in athletics has been extraordinary. Till about seven years ago, he was posted as a havildar with the Army in Siachen. From the frigid cold, he was transferred to a small cantonment in the desert town of Lalgarh Jattan, near the Pakistan border in Rajasthan.  The boy who walked 12 kilometres, to get to school and back, got his lucky break when he was selected to join a training group for a cross-country race organised by the Army.

24th Deaflympics: Abhinav Deshwal won gold medal in men’s 10m air pistol

Abhinav Deshwal has won the second gold medal for India in shooting at the ongoing 24th Deaflympics in Caxias do Sul, Brazil. He was tied with silver winning Ukrainian Oleksii Lazebnyk before winning gold in a shoot-off. India has four medals in the shooting competition at the 24th Deaflympics. Abhinav made the top eight final round after finishing second in the 60-shot qualification round with a score of 575 out of 600. He was tied on points there too with Kim Kihyeon, but the Korean topped on account of more inner 10s.

Carlos Alcaraz won the men’s singles title at the Madrid Open title 2022

Carlos Alcaraz (Spain) has clinched the men’s singles Madrid Open title 2022 after beating the defending champion Alexander Zverev (Germany).  Alcaraz has also defeated Rafael Nadal and Novak Djokovic (world No.1) to reach the final. It is his second Masters 1000 crown after Miami 2022 and his fourth title of the year.

Here are the winners of different categories:



Men’s Singles:

Carlos Alcaraz (Spain)

Women’s singles:

Ons Jabeur (Tunisia)

Men’s doubles:

Wesley Koolhof (Netherlands) & Neal Skupski (United Kingdom)

Women’s doubles:

Gabriela Dabrowski (Canada) & Giuliana Olmos (Mexico)

Important Days

International Day of Argania 2022 observed on 10th May

The United Nations observed 10th May 2022, the second International Day of Argania. This celebration crowns the efforts of the Kingdom of Morocco in promoting the Argan tree as an intangible cultural heritage of humanity and an ancestral source of resilient and sustainable development.  The day will be celebrated this year under the theme “The Argan tree, symbol of resilience” and will serve to raise international awareness around the tree, its ecosystem, and the important position it holds in Moroccan culture and heritage.

Obituaries News

Padma Shri Odia Writer Rajat Kumar Kar passes away

The eminent Odia litterateur Rajat Kumar Kar passed away due to heart-related ailments. He received Padma Shri in 2021 for literature and education.  He was known for his commentary during the annual Ratha Jatra (Jagannath culture) on TV and radio. His writing includes Upendra Bhanja literature and has seven non-fiction to his credit. He also contributed to the revival of the dying art of Pala of Odisha.

Maharashtra announces state funeral for Pandit Shivkumar Sharma

The Maharashtra government has announced a state funeral for santoor maestro Padma Vibhushan Pandit Shivkumar Sharma who passed away after a cardiac failure on Tuesday. His funeral will be held at the Vile Parle Hindu cremation ground near the Juhu airport in Mumbai on Wednesday. The mortal remains will be kept at his home from 10 am to 1 pm.




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