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 12th September 2022

 

NATIONAL NEWS

Gyanvapi case | Varanasi court says Hindu petitioners’ plea maintainable

 

District judge A.K. Vishvesha ruled that the Hindu ‘plaintiffs will have right to prove their averments by cogent evidence’, as the next hearing is slated for September 22

A Varanasi district court on September 12 dismissed an application filed by the Anjuman Intezamia Masjid Committee challenging the maintainability of the suit filed by five Hindu women seeking the right to worship Hindu deities within the Gyanvapi mosque premises all-year round.

 

Retail inflation inches up to 7% in August led by food price rise

India’s retail inflation touched 7% in August, up from 6.71% in July, fuelled by a 7.62% pick-up in food prices paid by consumers, even as industrial production growth in July had dropped to the lowest level since April at just 2.4%, with output levels dropping 2.75% month-on-month.  

This is the eighth successive month that retail inflation has stayed above the central bank’s upper tolerance threshold of 6% inflation for the economy, and constitutes a setback to households’ spending power among the poorer sections of the population. 

India raises Sri Lankan Tamil issue in U.N.

India on Monday voiced concern over the “lack of measurable progress” in Sri Lanka’s promised political solution to the long-pending Tamil national question, while making an unusual reference to the crisis-hit island nation’s “debt-driven” economy in the context of its current crisis.  

In its statement at the 51 ^st session of the United Nations Human Rights Council in Geneva, India said it has “always believed in the responsibility of States for promotion and protection of human rights and constructive international dialogue and cooperation” guided by the U.N. Charter. “In this regard, the Indian delegation notes with concern the lack of measurable progress by Government of Sri Lanka on their commitments of a political solution to the ethnic issue — through full implementation of the 13th Amendment of the Constitution, delegation of powers to Provincial Councils and holding of Provincial Council elections at the earliest,” India said.

 

 

 

International News

U.S. Marks The 21st Anniversary Of 9/11 Horrific Incident

Americans remembered 9/11 on 11th Sept with readings of victims' names, volunteer work and other tributes 21 years after the deadliest terror attack on US soil. A tolling bell and a moment of silence began the commemoration at ground zero in New York, where the World Trade Center's twin towers were destroyed by the hijacked-plane attacks of Sept. 11, 2001.  Victims' relatives and dignitaries also convened at the two other attack sites, the Pentagon and a field in Pennsylvania. Other communities around the country are marking the day with candlelight vigils, interfaith services and other commemorations. Some Americans are joining in volunteer projects on a day that is federally recognized as both Patriot Day and a National Day of Service and Remembrance.

India-Bangladesh Ties, A Model For Bilateral Relation

Ever since the Liberation War in 1971, Bangladesh and India have shared a special relationship not only due to their geographical boundaries, but also largely owing to their shared cultural, linguistic and historical connections.  India, during the war for liberation of the Bangladeshi nation, provided much of the required humanitarian as well as militaristic support which was so duly needed at the time. Both the countries since then, have shared a gigantic 4000 km long border which makes Bangladesh India’s longest land sharing neighbour in the South Asian region.

North Korea passes law authorising nuclear strikes as form of defence 

North Korea passes law regarding Nuclear Strikes: North Korea has approved a law that gives it the authority to launch a nuclear attack in advance. With the recently passed law, North Korea's status as a nuclear weapons state has become irreversible. North Korea, this year tested a record number of weapons, including an intercontinental ballistic missile.  According to the law, among other things, the North may use nuclear weapons in the event of a nuclear or non-nuclear attack by hostile forces against the state's leadership and the command structure of its nuclear forces.  Since 2019, discussions on sanctions relief and what Pyongyang would be ready to give up in exchange have stalled nuclear negotiations and diplomacy between Washington and Pyongyang.

Appointments News

Chief Justice Munishwar Nath Bhandari appointed as chairman of PMLA appellate tribunal 

Chief Justice of Madras High Court, the Centre appointed Justice Munishwar Nath Bhandari as the Chairman of the Appellate Tribunal under the Prevention of Money Laundering Act (PMLA).  Justice Bhandari is due to retire on September 12. The order was issued by the Department of Revenue under the Ministry of Finance. The Tribunal for Forfeiture of Property under the SAFEMA and the PMLA Appellate Tribunal were merged in 2016 through the Finance Act, 2016.  The post of the Chairperson of the Tribunal was vacant since September 2019. The President of India is pleased to appoint Hon’ble Mr Justice Munishwar Nath Bhandari, Chief Justice, Madras High Court as Chairman, Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators Act (SAFEMA).

BUSINESS. BANKING AND ECONOMY

PhonePe tokenized 14 million debit and credit cards

PhonePe tokenized debit and credit cards: PhonePe announced that it had tokenized 14 million credit and debit cards on its network in accordance with the RBI's (Reserve Bank of India) guidelines for data security.  Since the exercise began in December 2021, the Walmart-backed company claims to have tokenized more than 80% of its active users' cards.  The new term "token" to be used in the place of the actual card number with tokenization.  The real card details are not disclosed to a merchant during transactions, a tokenized transaction is safer and less likely to result in data leakage.  PhonePe stated that it is collaborating with Visa, Mastercard, and RuPay, three of the largest card networks, to meet the regulator's September 30 tokenization deadline.

Reliance Infra Files $1.7b Claim against Adani Transmission

Anil Ambani Group’s Reliance Infrastructure (R-Infra), has filed an international arbitration claim of ₹13,400 crore ($1.7 billion) against Adani Transmission before the Mumbai Centre for International Arbitration.

In a regulatory filing on September 9, Reliance Infrastructure said the arbitration claim is over what is described as the breach of terms of its December 2017 share purchase agreement with Adani Transmission related to the transfer of its Mumbai power distribution business.

The Adani Group in 2017 had acquired R-Infra’s (then Reliance Energy) Mumbai power business including generation, distribution and transmission, in a ₹18,800-crore deal. The deal gave Adani Group a foothold in the distribution business, helping it transition from a generation and transmission company into a fully-integrated power utility. Adani Transmission is India’s largest private sector transmission and power distribution entity.

Railway's Revenue Up 38 % to Rs 95,486.58 Cr 

The overall revenue of Indian Railways at the end of August’22 stood at ₹95,486.58 cr, showing an increase of Rs. 26271.29 cr (38%) over the corresponding period of last year.  The revenue from passenger traffic was Rs.25,276.54cr with an increase of ₹13,574.44 cr (116%) over the corresponding period of last year, according to official notes movers released by ministry of railways.  As per the data, Passenger traffic also increased compared to last year in both the segments, reserved as well as unreserved. The growth from the long-distance reserved mail express trains has been sharper than the same in passenger & suburban trains.  The other coaching revenue was Rs. 2437.42 cr, showing an increase of Rs.811.82 cr (50%) over the corresponding period of last year, the rail Mistry data showed.

After Apple, Google plans to make Pixel phones in India: Report

Amid supply disruptions due to COVID-19 restrictions in China, Google is planning to shift some production of Pixel phones to India, a report said. Google has reportedly asked Indian manufacturers to submit bids for the assembly of five lakh-ten lakh units of its Pixel smartphones. Earlier, a report said that Apple is planning to begin manufacturing iPhone 14 in India.

India's agri-food products export up 30% in first 4 months of FY23

India's overall export of agricultural and processed food products increased by 30% to $9.59 billion in the first four months (April-July) of FY23 compared to the corresponding period of FY 2021-22, DGCI&S data showed. Further, the export of fresh fruits and vegetables registered a 4% growth, while processed fruits and vegetables recorded a 51% growth in the April-July period.
Sachin Bansal's Navi Technologies gets SEBI nod for ₹3,350 cr IPO

Flipkart co-founder Sachin Bansal's fintech startup Navi Technologies has received approval from the Securities and Exchange Board of India (SEBI) for a ₹3,350 crore Initial Public Offering (IPO). Navi Technologies submitted its draft papers in March 2022. The company reported a profit of ₹71.1 crore in FY21 and incurred losses of ₹206.42 crore in the first nine months of FY22.
Govt plans ₹20,000 cr aid to oil firms hit by rising costs: Report

Government is planning to pay around ₹20,000 crore to the state-run fuel retailers to compensate them for losses and keep a check on cooking gas prices, a report quoting people familiar with the matter said. Oil Ministry has reportedly sought a ₹28,000 crore-compensation, but the Finance Ministry is agreeing for only ₹20,000-crore. The talks are reportedly at an advanced stage.
Baba Ramdev to launch IPO of 4 firms under Patanjali brand: Report

Yoga guru Baba Ramdev would launch the IPO of four companies under the Patanjali brand, a report said. The companies that'll be listed on the stock market during the next five years include Patanjali Ayurved, Patanjali Wellness, Patanjali Medicine and Patanjali Lifestyle. During an interview, Ramdev said that his company is planning to sell 6% promoters' stake in Patanjali Foods.
Vedanta picks Gujarat for its $20-bn joint venture with Foxconn: Report

Vedanta has picked Gujarat to set up a semiconductor plant under its $20-billion joint venture with Taiwan's Foxconn, Reuters reported. Vedanta reportedly obtained financial and non-financial subsidies, including cheap electricity, from Gujarat to build the semiconductor plants. Vedanta had sought 1,000 acres of land free-of-cost on a 99-year lease while lobbying for incentives with states.

Schemes News

SETU programme introduced in the US by Piyush Goyal

SETU programme: To connect entrepreneurs in India with US-based investors, the commerce and industry minister Piyush Goyal has created a programme called SETU (Supporting Entrepreneurs in Transformation and Upskilling).  With SETU, mentors in the US who are eager to support entrepreneurship can connect with Indian firms that are just getting off the ground. The initiative was introduced during a discussion centred on particular concerns with India's startup ecosystem.  The meeting's main topics were how to promote domestic incorporation and successful diaspora residents of the San Francisco Bay Area's mentorship of early-stage Indian firms.  The project would provide mentorship and support in a number of areas, including funding, market access, and commercialization, by connecting businesses in India to investors and startup ecosystem leaders in the US.

 

 

 

Sports News

US Open 2022 Concludes: Complete List of Winners

In the men’s category, Spanish player C. Alcaraz Garcia has lifted his first Grand Slam trophy after defeating C. Ruud, to become the youngest player to reach world No. 1 at just 19 years old.  The event was held at the Arthur Ashe Stadium in New York. In the women’s category, Poland tennis player I. Świątek defeated O. Jabeur to win the 2022 US Open women’s singles final title.  In 2022, the U.S. Open set a new record for total prize purse, at more than $60 million, up from $57.5 million in 2021. For women's and men's singles, the total prize money is $42,628,000, with the winners taking $2.6 million respectively. The men's and women's singles runner-ups will each receive $1.3 million.

Here is the Complete List of Winners in Different Categories:

S. No.	Category	Winner	Runner Up
1.	Men’s Singles	C. Alcaraz Garfia	C. Ruud
2.	Women’s Singles	I. Swiatek	O. Jabeur

 

S. No.	Category	Winner	Runner Up
3.	Men’s Doubles	R. Ram & J. Salisbury	W. Koolhof & N. Skupski
4.	Women’s Doubles	K. Siniakova & B. Krejcikova	C. McNally & T. Townsend
5.	Mixed Doubles	S. Sanders & J. Peers	K. Flipkens & E. Roger Vasselin

 

Asia Cup 2022 Finals: Sri Lanka won by 23 Runs

Sri Lanka won by 23 runs against Pakistan. Pakistan was left all out by Sri Lanka. Pakistan won the toss and chose to bowl first. Sri Lanka made 170 runs in 20 overs with a loss of 6 wickets.  W Hasaranga made 36 runs in 21 balls and Dhananjaya de Silva made 28 runs in 21 balls. Pathum Nissanka and Kusal Mendis were opening batsmen from Sri Lanka, they made 8 runs and 0 runs respectively.

Books and Authors News

Navtej Sarna’s latest book Crimson Spring longlisted for the 2022 JCB Prize for Literature

Navtej Sarna’s latest book, Crimson Spring, longlisted for the JCB Prize for Literature, starts with the Jalianwalla Bagh massacre that took place on April 13, 1919, and goes back and forth in time to bring that era and the aftermath of the event alive. After all, as stated in the Prologue, “These then are the facts.  Even a hundred years later, the facts speak for themselves. The before and after is only history… made up of acts of human beings…” Crimson Spring is a masterclass in writing that intertwines history and fiction to describe this critical period in Indian history and the changes happening in the world around that time.

 

 

 

 

 

Important Days

United Nations Day for South-South Cooperation: 12 September

The United Nations Day for South-South Cooperation is observed annually on September 12 to highlight the importance of cooperation among people and countries in the global South.  The day also aims at spreading awareness on the social, economic, and political developments made in the Southern region.  The United Nations Conference on Technical Cooperation among Developing Countries adopted the Buenos Aires Plan of Action for Promoting and Implementing Technical Cooperation among Developing Countries (TCDC) on September 12, 1978.

International PCOS Awareness Month: September 1-30, 2022

The month of September is recognized as International PCOS Awareness Month. Polycystic ovary syndrome (PCOS) is a common hormonal disorder in women that is also the leading cause of female infertility.  Polycystic ovary syndrome (PCOS) is a serious genetic, hormone, metabolic and reproductive disorder that affects women and girls. It is the leading cause of female infertility and a precursor for other serious conditions including obesity, type 2 diabetes, cardiovascular disease and endometrial cancer.

National Forest Martyrs Day 2022 observed on 11th September

National Forest Martyrs Day is observed on September 11 to pay tribute to those who sacrificed their lives to protect forests and wildlife.  The observance of the National Forest Martyrs is marked by several events aimed at creating awareness about protecting forests and the environment at large. The day holds a lot of significance in the present scenario when depleting green cover is among the greatest challenges in front of the world.  The Ministry of Environment, Forest and Climate Change declared in 2013 that a day should be set aside in honour of forests and people who protect India's forests, jungles, and wildlife.

World First Aid Day 2022: "Lifelong First Aid"

World First Aid Day is celebrated every year on the second Saturday of September. This year, World First Aid Day 2022 falls on 10 September 2022.  The day is recognized worldwide to promote the significance of first aid, which is an important fundamental skill, and to create awareness on a global level about how it can save precious lives. The day was introduced first by the International Federation of Red Cross and Red Crescent Societies (IFRC).  According to the IFRC, with this year's theme, 'Lifelong First Aid', we are putting forward the importance of having lifelong first aid learning.  World First Aid Day's history dates back to the battle of Solferino in 1859 in which a young businessman, Henry Dunant, from Geneva was horrified and shocked by the mass massacre of people. He helped many severely injured people. This incident inspired him so much that he wrote a book titled as 'A Memory of Solferino'.

Obituaries News

Chief Justice of India with the shortest tenure, Kamal Narain Singh passes away

Former Chief Justice of India Kamal Narain Singh passed away, at the age of 95. Justice Narain had a tenure of only 17 days as the CJI, making him the chief justice with the shortest tenure. He was the 22nd Chief Justice of India, with a term from November 25, 1991, to December 12, 1991. 

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