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29th September 2022

 

National News

PM Modi inaugurates 36th National Games in Ahmedabad

PM Narendra Modi on Thursday inaugurated the 36th National Games at the Narendra Modi Stadium in Gujarat's Ahmedabad. Nearly 15,000 sportspersons, coaches and officials from across the country are taking part in 36 sports disciplines. The National Games are being held in Gujarat for the first time. Events will be organised in Ahmedabad, Gandhinagar, Surat, Vadodara, Rajkot and Bhavnagar.

 

Largest jungle safari park outside Africa to come up in Haryana; will cover 10,000 acres

Haryana will develop a curated jungle safari park, largest outside of Africa, spread over 10,000-acres in the Aravalli range, said the state government. It will cover parts of Gurugram and Nuh districts. "It will be the largest such project in the world. Currently, the largest curated safari park outside Africa is in Sharjah," said CM Manohar Lal Khattar.

New Vande Bharat Express to offer diet meals to passengers

The Gandhinagar Capital-Mumbai Central Vande Bharat Express will serve diet meals made from ragi (finger millet), bhagar (barnyard millet), cereals, oats and muesli. The train will be flagged off by PM Narendra Modi on Friday. Healthy malt beverages are also being introduced for kids. The low-calorie menu is in line with International Year of Millets to be celebrated in 2023.

1-year jail, ₹50,000 fine for providing fake details for SIM cards, OTT: Draft Telecom Bill

As per the prepared draft of Indian Telecommunication Bill 2022, providing fake documents to avail SIM cards or create an account on OTT platforms will invite one year in jail or fine of up to ₹50,000, Economic Times reported. As per the report, the provision in the draft bill has been incorporated to tackle widespread problem of "online identity fraud".

 

Ministry of Home Affairs bans PFI and its associates for five years

Ministry of Home Affairs bans PFI and its associates: The Popular Front of India (PFI) and its affiliates were banned by the Centre for a period of five years, days after law enforcement agents tried in a campaign to suppress the activities of the group.  The Ministry of Home Affairs used the Unlawful Activities (Prevention) Act to enact the ban, claiming that the Popular Front of India (PFI) and its affiliates pose a "major threat to internal security of the country" and are connected to terrorist organisations like the ISIS.

Hitachi Astemo planted its first solar power plant in India

Hitachi Astemo installed its India's first ground-mounted solar power plant of 3 megawatts (MW) at its Jalgaon manufacturing plant. The 3 megawatts (MW) solar power plant will be built in an area of 43301 sqm.  The ground-mounted solar power plant will consist of 7128 ground-mounted solar panels and 10 inverters. Hitachi Astemo is known for the development, manufacture, sale, and service of automotive and transportation components. This solar power plant will embark on its new journey in the field of sustainable energy in India.

International News

 

List of the world's most innovative economies released, India on 40th spot

The World Intellectual Property Organization, a specialised agency of the United Nations, released the Global Innovation Index for the year 2022 on Thursday. Switzerland topped the list, followed by the US, Sweden, the UK, the Netherlands, the Republic of Korea, Singapore, Germany, Finland, and Denmark. India, which ranked 46th on the 2021 list, climbed to the 40th spot this year.

German inflation hits double digits for 1st time in 20 yrs at 10.9% in Sept

Driven by high energy prices, German inflation reached double digits for the first time in more than 20 years, according to reports. The Federal Statistics Office on Thursday said that consumer prices in Germany increased to 10.9% in September. Reportedly, this is more than the 10.2% economists in a Bloomberg survey had estimated

UK PM Liz Truss defends economic plan amid sterling’s volatility

UK PM Liz Truss has defended her economic plan as part of which unfunded tax cuts were announced, driving the sterling to record lows. Truss said, "We won’t see growth come through overnight…what is important is that we are putting this country on a better trajectory." The Bank of England took emergency measures on Wednesday to cushion the UK markets.

Saudi Arabia Crown Prince Mohammed bin Salman appointed prime minister

Saudi Arabia's powerful Crown Prince Mohammed bin Salman has been appointed prime minister by a royal decree. The crown prince, who is heir to the throne held by King Salman, already wields wide powers and is seen as the kingdom's day-to-day leader.  The royal decree appointing him as prime minister was carried by the Saudi Press Agency. The reshuffle kept another son, Prince Abdulaziz bin Salman, as energy minister, the king said in the royal decree.  The crown prince, known as MbS, is promoted from defence minister and has been the de facto ruler of Saudi Arabia, the world's biggest oil exporter and a major U.S. ally in the Middle East.

Vladimir Putin grants Russian citizenship to Edward Snowden

President Vladimir Putin has granted Russian citizenship to former U.S. intelligence contractor Edward Snowden, nine years after he exposed the scale of secret surveillance operations by the National Security Agency (NSA).  U.S. authorities have for years wanted him returned to the United States to face a criminal trial on espionage charges.  Snowden, a former employee of the U.S. National Security Agency, has been living in Russia since 2013 to escape prosecution in the US after leaking classified documents detailing government surveillance programs.  He was granted permanent Russian residency in 2020 and said at the time that he planned to apply for Russian citizenship without renouncing his U.S. citizenship.  Snowden’s lawyer, Anatoly Kucherena, told Russia's state news agency RIA Novosti that the former contractor's wife Lindsay Mills, an American who has been living with him in Russia, will also be applying for a Russian passport. The couple had a child in December 2020.

State News

Uttar Pradesh govt gives nod to Bundelkhand’s first tiger reserve 

The Uttar Pradesh cabinet has gave a green signal for the development of the first tiger reserve in the Bundelkhand region. The tiger reserve will span across 52,989.863 hectares of land including 29,958.863 hectares of buffer area and 23,031.00 hectares of the core area which was already notified as Ranipur wildlife sanctuary in the Chitrakoot district of the state.  The Ranipur Tiger Reserve area covered by northern tropical dry deciduous forests is home to tiger, leopard, bear, spotted deer, sambhar, chinkara, reptiles and other mammals.  The establishment of Ranipur Tiger Reserve will prove to be a turning point for the conservation of wildlife in Bundelkhand along with the opening of the eco-tourism potential of the area creating immense employment opportunities benefiting the local population.

Uttar Pradesh wins Ayushmann Utkrishta award 2022

Ayushmann Utkrishta Award 2022 has been given to Uttar Pradesh for adding several healthcare facilities to the health facility register.  With 28728 new healthcare facilities added to the National Health Facility Register, Uttar Pradesh is the best performing state in the nation.  With over 2 crore ABHA Accounts, the state is also the second best State for creating Ayushmann Bharat health accounts (ABHA). These are the state's initial few landmarks.

PM Modi inaugurates Rs 29,000-cr projects during PM's Gujarat tour

PM Modi inaugurates Rs 29,000-cr projects: During his two-day visit to Gujarat, which is nearing election day, Prime Minister Narendra Modi dedicate a number of infrastructure and development projects totalling more than Rs 29,000 crore.  The first CNG (compressed natural gas) terminal in the world is scheduled to be inaugurated, together with phase 1 of the Ahmedabad Metro and phase 1 of the Diamond Research and Mercantile (DREAM) City in Surat, according to a statement released by the Gujarati government.

Appointments News

 

ISRO scientist elected VP of International Astronautical Federation

Anil Kumar, a scientist at Indian Space Research Organisation (ISRO), has been elected as the Vice-President of the International Astronautical Federation. Kumar presently serves as the Associate Director of ISRO Telemetry, Tracking and Command Network. The International Astronautical Federation was founded in 1951 and is one of the world's top space advocacy bodies.

 

Bandaru Wilsonbabu appointed as Indian Ambassador to Madagascar

Bandaru Wilsonbabu new Indian Ambassador to Madagascar: The Ministry of External Affairs (MEA) announced that IFS officer Bandaru Wilsonbabu, who is now joint secretary in the ministry of external affairs, has been named as India's new ambassador to the Republic of Madagascar.  He is anticipated to start the assignment soon. Abhay Kumar will be replaced by Wilsonbabu, who most recently worked as the joint secretary for the Eurasia section.

Senior Advocate R Venkataramani named as new Attorney General of India 

Senior advocate R Venkataramani has been appointed as the new Attorney General of India. The President has appointed Mr Venkataramani as the new Attorney General for a period of three years from the 1st of October.  The notification regarding Mr Venkataramani's appointment as the Attorney General was issued today by the Department of Legal Affairs, Union Ministry of Law and Justice.  Mr Venkataramani will replace current Attorney General KK Venugopal whose term ends on September 30, 2022. Mr Venugopal is currently on his third extension.  The Attorney General for India is the Indian government's chief legal advisor and is its chief advocate in the courts. They are appointed by the President of India at the instance of the Union Cabinet under Article 76 of the Constitution and hold office during the pleasure of the President.

Vijay Jasuja named as Independent Director of Stashfin

Leading Fintech platform Stashfin has appointed BFSI (Banking, Financial Services and Insurance) expert and former MD and CEO of SBI Cards, Vijay Jasuja as Non-Executive Independent Director.  He also served as a Director at PNB Cards. Jasuja, an industry veteran, has more than 40 years of BFSI experience in leadership positions across Indian and overseas markets, has been the MD and CEO of SBI Cards, and director, of PNB Cards.  He has held multiple leadership positions at SBI including General Manager, Hyderabad; General Manager (IBG), Mumbai; Country Head and CEO, Maldives and Regional Head, Sub-Saharan Africa.

BANKING, BUSINESS AND ECONOMY

Adani Green commissions 'largest' 600 MW wind-solar plant in Raj

Adani Green Energy Ltd has said that it has commissioned the world's largest wind-solar power plant of 600 MW capacity in Rajasthan's Jaisalmer. According to the company, the project consists of 600 MW solar and 150 MW wind plants. It shall not only reduce intermittency of renewable energy power, but also help the country in optimal utilisation of transmission network.

 

Centre to issue bonds worth ₹5.92 lakh crore in October-March

The Union Finance Ministry said the government will borrow ₹5.92 lakh crore from the market in the second half of 2022-23 by issuing bonds. The sum will equal 41.7% of the total borrowing target for the year, which is ₹14.21 lakh crore. The government will borrow money through 20 weekly auctions of its bonds in the second half of FY23.

Govt hikes Q3 interest rates on some small savings schemes by up to 30 bps

The Finance Ministry increased rates on some small savings schemes for the third quarter of current financial year. With the revision, the rate for deposits with post offices will increase by 30 basis points (bps) to 5.8% from the existing 5.5%. The rate for the Senior Citizens' Savings Scheme will increase by 20 bps to 7.6% for the third quarter.

BharatPe's POS business BharatSwipe turns profitable 2 yrs after launch

Fintech firm BharatPe announced that its POS business BharatSwipe is now profitable, two years after its launch. Currently, BharatSwipe accounts for over 20% of BharatPe's payments Transaction Processed Value (TPV) annually. BharatPe Founder Shashvat Nakrani said the company clocks nearly four million transactions on POS devices monthly and is aiming for $6 billion in annualised TPV by FY23 end.

 

ADB to Devote $14 billion to Help Ease Food Crisis in Asia-Pacific

The Asian Development Bank said, it will devote at least $14 billion through 2025 to help ease a worsening food crisis in Asia-Pacific.  The development lender said it plans a comprehensive program of support to help the 1.1 billion people in the region who lack healthy diets due to poverty and soaring food prices.  The Manila, Philippines-based ADB made the announcement during its annual meeting.

World Bank and SIDBI to launch fund against loan default to lenders financing the purchase of electric 2 & 3 Wheelers

A $1 billion fund may soon be launched by the government in collaboration with the World Bank, and the Small Industries Development Bank of India (SIDBI). The fund will be used to provide guarantees against defaults on loans taken to buy electric two or three-wheelers.  The NITI Aayog will be the facilitating agency of the project. It will aim to facilitate faster and easier financing of EVs. Currently, loans for electric two-wheelers and three-wheelers attract 20-25 per cent interest per annum. Earlier, the State Bank of India (SBI) was considered to be the programme lead.  Banks have continued to stay cautious on financing EVs after losing money on e-rickshaws and other EVs powered by lead-acid batteries. Even as banks have maintained their distance from financing such vehicles, several NBFCs have come forward to take the role. In the fiscal year of FY23, EV sales in India are expected to cross a million units, an 84 per cent rise year-on-year.

Foreign Trade Policy 2015-20 Extended Further For 6 Months

The Commerce Ministry announced the extension of the existing foreign trade policy by six months. The reason behind the development is currency volatility and global uncertainty. The ministry said, the geo-political situation is not suitable for long-term foreign trade policy.   The Commerce Ministry said, "existing Foreign Trade Policy extended by six months due to currency volatility & global uncertainty. Geo-Political situation is not suitable for long-term Foreign Trade Policy." Earlier, the government had extended the due date for the Foreign Trade Policy 2015-20 to September 30, 2022.

BSE Receives SEBI's Final Approval to Launch EGR on its Platform

Stock exchange BSE has received final approval from the capital markets regulator Securities and Exchange Board of India (SEBI) for introducing the Electronic Gold Receipt (EGR) segment on its platform.  The exchange had received in-principle approval from Sebi in February after which the exchange conducted several mock trading in the test environment for exchange members to facilitate trading in EGRs.

World Bank Cuts 2022 East Asia Growth Aim

Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China's slowdown, but the pace of expansion will pick up next year, the World Bank said.  The Washington-based lender said in a report it expected 2022 growth in the East Asia and Pacific region, which includes China, to slow to 3.2%, down from its 5.0% forecast in April, and the previous year's growth of 7.2%.  China, which constitutes 86% of the 23-country region's economic output, was projected to grow 2.8% this year, a significant deceleration from the bank's previous forecast of 5.0%. In 2021, China's economy expanded 8.1%, its best growth in a decade. For 2023, the world's second-largest economy was seen growing at 4.5%.

UCO & Yes Bank tie up with Russian banks for payments

UCO Bank and Yes Bank have put in place arrangements with two Russian banks as India seeks to step up trade with the sanctioned nation.  Nearly a month after it was reported that more than 15 Russian banks were in advanced talks with Indian lenders to facilitate bilateral business in their respective local currencies, two of India’s banks have taken a step towards the same.  UCO Bank has partnered with Gazprom Bank, while Yes Bank has also formed an arrangement with Russia’s Petersburg Social Commercial Bank (PSCB).

Union Bank of India inaugurated ethical hacking lab

The Union Bank of India inaugurated the Ethical Hacking Lab at the Cyber Security Centre of Excellence (CCoE) in Hyderabad. The lab with a cyber defence mechanism will protect the bank’s information system, digital assets, and channels, against potential cyber threats.  The lab was inaugurated by the bank’s managing director and CEO, A. Manimekhalai. Union Bank is adopting Digital Products in a big way. Various new initiatives are taken by the Bank to increase Digital Footprints. The IT assets are increasingly exposed to the Internet.

Joseph Gebbia, co-founder of Airbnb, added to the Tesla board

Joseph Gebbia added to the Tesla board: Tesla Inc. said that Airbnb co-founder Joseph Gebbia has joined the board of directors, reversing a decision to reduce the number of directors at the most valuable automaker in the world.  Following the departure of Oracle Inc. co-founder Larry Ellison in August, Tesla announced in June that it will have just seven board seats, drawing criticism from a shareholder organisation for the absence of independent board members.

Summits and Conferences News

Education Minister Dharmendra Pradhan inaugurates 13th FICCI Global Skills Summit 2022

Union Education and Skill Development and Entrepreneurship Minister, Shri Dharmendra Pradhan inaugurated and addressed the 13th FICCI Global Skills Summit 2022 on the theme of “Education to Employability - Making It Happen.” in New Delhi.  The Summit would look through the NEP lens and focus on how India can become the “Skill Capital of the World,” using the UN Sustainable Development Goal 4 (SDG4) as an underlying theme.

MoHUA launched Swachh Toycathon

The Ministry of Housing and Urban Affairs (MoHUA) launched Swachh Toycathon under the Swachh Amrit Mahotsav. The competition aims to explore solutions for use of waste in the creation or manufacturing of toys. Secretary, MoHUA, Manoj Joshi, launched the event on MyGov portal and released the toolkit.  The Center for Creative Learning, IIT Gandhinagar, is MoHUA’s knowledge partner for the initiative. They will be providing support on aspects of pedagogy and creativity. Joint secretary, MoHUA, Roopa Mishra, said there is a comprehensive approach being covered in the initiative as well as the way forward after the competition.

Sports News

Team World won Laver Cup indoor tennis tournament 2022

Team World defeated Team Europe to win the Laver Cup 2022 for the first time. Team World defeats Team Europe 13-8 to win the Laver Cup indoor tennis tournament. Frances Tiafoe and Felix Auger of Team World defeated Stefanos Tsitsipas & Novak Djokovic of Team Europe to win the competition.  Laver Cup is an international indoor hard court tournament between Team Europe & Team World. Players from all continents, besides Europe, represent Team World.

Important Days
World Heart Day 2022 Observed On September 29

Every year on the 29th of September, people all around the world observe World Heart Day. The day is observed to raise awareness about the rising concerns of heart health, cardiovascular illnesses, the impact of overexercising on the heart and how heart care is of utmost importance.  The theme for World Heart Day 2022 is 'USE HEART FOR EVERY HEART'. With increasing global awareness about cardiovascular diseases and learning to manage the disease. In the theme 'USE HEART FOR EVERY HEART', "Use Heart" means to think differently, make the right decisions, act with courage and help others.  Similarly, "For Every Heart" involves the use of “FOR” and shifts the focus from the actions themselves to the heir of such actions, allowing for wider application of the campaign while also making it more personal.

International Day of Awareness of Food Loss and Waste 2022

On 29 September 2022, the International Day of Awareness of Food Loss and Waste is observed globally. Reducing food loss and waste is of significant importance as it contributes to the realization of broader improvements to agri-food systems toward achieving food security, food safety, improving food quality and delivering on nutritional outcomes.  Reducing food loss and waste also contributes significantly to the reduction of greenhouse gas emissions, as well as pressure on land and water resources.  The theme for International Day of Awareness of Food Loss and Waste 2022 is "Stop Food Loss and waste, for the people, for the planet". Reducing food losses and waste is essential in a world where the number of people affected by hunger has been slowly on the rise since 2014, and tons and tons of edible food are lost and/or wasted every day.

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