FEDERAL SIDBI RBI IBPS CURRENT AFFAIRS SNIPPETS 2ND JUNE FOR mock attach...

 

CURRENT AFFAIRS SNIPPETS

02nd June 2022

 

 

NATIONAL  News

IIT Guwahati develops device to turn wastewater into energy

Researchers at IIT Guwahati have developed a bio-electrochemical device, Microbial Fuel Cell (MFC) that generates green energy by treating wastewater. MFC is an eco-friendly device that offers dual benefit of bioelectricity generation and waste management. "After scaling the process, it can be used as a source of clean energy using municipal wastewater...economically," Director, IIT Guwahati said.

Telangana Formation Day 2022 is observed on 02nd June 

Telangana, India's 28th state, was founded on 2nd June 2014. Telangana celebrates its Formation Day to mark the people’s contribution to forming a separate state outside of Andhra Pradesh.  Telangana's 30 districts honour this day by hoisting the national flag. The formation of Telangana signifies the victory of the Telangana movement. It commemorates the official separation of Telangana from the state of Andhra Pradesh.  On 2 June 2014, a 57-year-old movement came to an end, realising the hopes of the Telangana people. The movement not only provided the people of the region with a separate identity but also created a change in India's map, which now shows the state's boundaries.

Appointments News

Senior IPS Zulfiquar Hasan Becomes the New DG of BCAS 

Senior IPS officer, Zulfiquar Hasan has been appointed as the new Director-General of the Bureau of Civil Aviation Security (BCAS). The official order stated that Zulfiquar Hasan has been appointed “for a tenure up to his superannuation on 31.10.2024”.  West Bengal-cadre 1988-batch IPS officer, Zulfiquar Hasan has been serving as the Special Director General of the Central Reserve Police Force (CRPF) in Delhi. The post of the Director-General, BCAS has been vacant since January 4 after incumbent Nasir Kamal opted for voluntary retirement.  An order issued by the Centre, following the sanction by the Appointments Committee of Cabinet (ACC), appointed the 1988-batch Indian Police Service (IPS) officer to the post of Director-General of the Bureau of Civil Aviation Security, which has been vacant since the beginning of the year.  The Bureau of Civil Aviation Security functions under the Union civil aviation ministry and is tasked with framing security-related protocols for aviation operations.

Centre Appoints S L Thaosen as Director General of Sashastra Seema Bal 

A 1988-batch Indian Police Service officer S L Thaosen has been appointed as the new Director-General of the Sashastra Seema Bal (SSB). Thaosen, a Madhya Pradesh-cadre IPS officer, has been serving as the Special Director General of the Border Security Force (BSF).  The Sashastra Seema Bal force guards the country’s borders with Nepal (1,751 km) and Bhutan (699 km).  The post of SSB chief has been lying vacant after incumbent DG Kumar Rajesh Chandra retired on December 31 last year. Indo-Tibetan Border Police (ITBP) DG Sanjay Arora has been holding the additional charge of the Sashastra Seema Bal DG since then.

 

INTERNATIONAL

Biden announces new $700 million weapons package for Ukraine

US President Joe Biden has announced a new weapons package worth $700 million for Ukraine to help it fight Russian forces. The package includes high mobility artillery rocket systems which, Ukraine has assured, will not be used against targets on Russian territory, according to the US. The US will continue to provide Ukraine with weapons to defend itself, said Biden.

 

Former Colombian drug lord 'Chess Player' dies in US prison

Gilberto Orejuela, the former leader of Colombia's drug trafficking Cali Cartel, died of lymphoma in a US prison while serving a 30-year drug trafficking sentence, his family said on Wednesday. Nicknamed 'The Chess Player', Orejuela was considered to be one of the world's biggest drug lords after Pablo Escobar's death in 1993. He was extradited to the US in 2004.

UN approves request to change Turkey's official name to 'Türkiye'

N on Wednesday approved Turkey's request to change its official name to 'Türkiye', Stephane Dujarric, spokesman for UN chief Antonio Guterres said. Dujarric stated the name change became effective after UN received Turkish government's letter requesting use of 'Türkiye' for all affairs. "Türkiye is the best representation...of...[our]...culture," President Recep Tayyip Erdoğan had earlier said.

BANKING, BUSINESS AND ECONOMY News

 

Yes Bank plans to sell pool of stressed assets to JC Flowers: Report

Yes Bank is planning to sell a pool of stressed assets worth ₹48,000 crore to US-based JC Flowers Asset Reconstruction Company (ARC), BQ Prime reported. JC Flowers has agreed to place a ₹12,400-crore bid against the stressed assets on sale, ensuring a 25% recovery. Yes Bank will have to invest ₹300-400 crore in the ARC as part of the deal.

 

Govt collects Rs 1.41 lakh crore GST in May 

GST revenue for May stood at nearly Rs 1.41 lakh crore, a 44 per cent increase over the same month last year, the Finance Ministry. The Goods and Services Tax (GST) revenues came in lower than the record high collection in April at Rs 1.68 lakh crore. In March GST revenues were at Rs 1.42 lakh crore, while in February it was Rs 1.33 lakh crore.  The collection in May, which pertains to the returns for April, the first month of the financial year has always been less than that in April, which pertains to the returns for March, the closing of the financial year.  The gross GST revenue collected in the month of May 2022 is Rs 1,40,885 crore of which CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore (including Rs 37469 crore collected on import of goods) and cess is Rs 10,502 crore (including Rs 931 crore collected on import of goods).

India's economic growth expected to be 8.7% in FY22, Q4 GDP to be 4.1 % 

India's economic growth fell to 4.1 percent in January-March 2021-22, a four-quarter low, reflecting the impact of the Covid-19 pandemic's Omicron wave on the manufacturing sector and contact-intensive services.  The National Statistical Office reduced its year-on-year gross domestic product (GDP) growth forecast for the full fiscal year 2021-22 to 8.7%, down from 8.9% anticipated in February. In the years 2020-21, the economy shrank by 6.6 percent.  In Q4 of FY22, private final consumption expenditure — a measure of individual consumption of goods and services – increased by 1.8% year on year. Gross fixed capital creation (GFCG) increased by 5.1 percent, which is a proxy for investment activity. Government final consumption expenditure increased by 4.8 percent in January-March, bolstering the economy.

Centre distributes Rs 86,912 crore to states and settles GST compensation debts 

The Central government has handed Rs 86,912 crore to state governments, the SGST (State Goods and Services Tax), fully compensating them for the Goods and Services Tax (GST).  Despite only having roughly Rs 25,000 crore in the GST compensation pool, the Centre made the whole amount. The remaining funds were paid from the Centre's own funds while the cess was being collected.  Following the implementation of the GST on July 1, 2017, the government expected yearly revenue growth of 14%.  To compensate states for lost revenue, a cess was imposed on a variety of luxury items and so-called sin goods to raise funds.  However, a faltering economy and the COVID-19 pandemic stifled cess collections, exacerbating the gap between what was owed and the compensation fund's available funds.  Compensation of Rs 47,617 crore was due up to January, Rs 21,322 crore was due for February-March, and Rs 17,973 crore was due for April-May, out of the Rs 86,912 crore released to states.

Awards News

Former West Indies skipper Darren Sammy conferred with the Sitara-e-Pakistan award 

Former West Indies captain, Daren Sammy has been conferred with the Sitara-i-Pakistan Award for Services to Pakistan during a ceremony. The 38-year-old all-rounder was being recognized for his role in helping bring international cricket back to Pakistan. It is the third-highest civil award conferred by Pakistan.   He represented West Indies in 38 Tests, 126 ODIs, and 68 T20Is, has been one of the best captains that the world has seen in the T20 format and he captained a lot of franchises around the world. Sammy, who led the West Indies to two T20 World titles (2012 and 2016), was receiving his second civil honour from Pakistan in as many years.  In March 2020, he received the highest civilian medal of Pakistan, Nishan-e-Pakistan, for his part in helping bring international cricket back to Pakistan. He was also awarded honorary Pakistani citizenship by the President of Pakistan Arif Alvi.

Young women entrepreneur Rashmi Sahoo wins Times Business Award 2022 

Director of Ruchi Foodline, Eastern India’s leading food brand and Odisha’s No.1 spices company, Rashmi Sahoo has been presented the Times Business Award 2022. She was given the award by renowned Bollywood actor and social activist Sonu Sood.  The award was given in the category of Eastern India’s Leading READY -TO-EAT brand.  While working as director of Ruchi Foodline, she started and established Frozit – Odisha’s first frozen food company. She not only revolutionized the food processing segment in Odisha but also changes the lives of thousands of women by proving employment opportunities. Sahoo and Frozit have won various accolades across the world for their innovative food product line, quality and hygiene standards.

Sports News

Mens Hockey Asia Cup: India win bronze with 1-0 win over Japan

India defeated Japan 1-0 to win bronze at the Men's Hockey Asia Cup 2022 in Jakarta, Indonesia. Japan had seven penalty corners while India had just two but India led the circle penetration stats 11-10.  India were down to 10 men in the last minute of the match but they managed to hold on and win their second bronze medal at the Asia Cup. South Korea dashed Malaysia's hopes of a maiden Hero Asia Cup trophy as they reigned supreme with a thrilling 2-1 final victory here at the GBK Sports Arena.  This is the fifth time the Korean side have lifted the prestigious trophy. They have won the title in 1994, 1999, 2009 and 2013.

Amit Shah laid foundation stone for an Olympic-level sports complex in Ahmedabad 

The government wants to have international level grounds and venues for all sports for the Olympics in Ahmedabad with the Sardar Patel Sports Complex, Narendra Modi Stadium, Naranpura Sports Complex, and three more sports complexes.  Amit Shah, the Union Minister of Home Affairs and Cooperation, laid the foundation stone for an Olympic-level sports complex in Ahmedabad, Gujarat, on Sunday (29 May) at a cost of Rs 632 crore.  The world-class sports stadium is set across 18 acres in Ahmedabad's Naranpura neighbourhood, with facilities for playing and training in a variety of indoor and outdoor activities, including swimming. It can also accommodate up to 7,000 people at once.  This enormous sports facility with over 1.15 lakh square metres of built up area includes an indoor sports arena, a community sports arena, and an aquatic stadium.  The BJP-led central and state administrations hope that the presence of the world's largest cricket stadium, the Sardar Patel Sports Complex, and the Naranpura Sports Complex will make Ahmedabad a city where Olympic preparations may be made.

Miscellaneous News

Sachin Tendulkar to continue as UNICEF’s Goodwill Ambassador for 20th year 

Sachin Tendulkar will continue as United Nations Children's Fund (UNICEF) ‘Goodwill Ambassador’ for a record 20th year, working for the welfare of underprivileged children.  The iconic cricketer has been associated with UNICEF for a long for various causes. In his almost two-decade-long partnership with UNICEF, he has been vital in furthering the campaigns, especially the ones aimed at providing a better future for underprivileged children.  In 2003, he was chosen to take lead in the initiative to create awareness and promote polio prevention in India.  Later in 2008, he was roped in to create and promote hygiene and sanitation among communities and has been continuing to do so over the years.  In 2013, he was appointed UNICEF Ambassador for South Asia to advocate good hygiene and sanitation across the region.  In 2019, he went on a three-day trip to Nepal to raise awareness for UNICEF Nepal’s ‘Bat for Brain Development’ campaign. 

 

OBITUARY

Santoor maestro Pandit Bhajan Sopori passes away aged 73 due to cancer

Santoor maestro Pandit Bhajan Sopori passed away on Thursday aged 73. "He was suffering from colon cancer. He...would have celebrated his 74th birthday on June 22," his son Abhay Sopori stated. He added that his father passed away at 3:30 pm and was "ailing in the hospital for the last three weeks".

 

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