- 1. Vinisha Umashankar selected as Batonbearer for the ongoing 16th official Queen’s Baton Relay.
- 2. Ujjivan SFB appointed Ittira Davis as its new MD & CEO.
- 3. Deon Lendore died in a car accident in Texas.
- 4. Philippines approves 374 million dollars deal as part of first Brahmos missile export order.
- 5. Sri Lanka received around 900 million USD in financial aid from India.
- 6. Indian Army Day: 15 January
- 7. RBI proposes new norms for classification of investment portfolio of banks.
- 8. Union Minister Jitendra Singh launched AI-driven startup for water purification.
- 9. IAMAI establish India EdTech Consortium to uphold code of conduct by edtech platforms.
- 10. Government launched Fisheries Startup Grand Challenge.
- 11. Prime Minister Modi inaugurated MSME Technology Centre at Puducherry.
- 12. Tasnim Mir becomes first Indian to clinch world no 1 ranking in Under-19 girls singles.
- 13. United Nations forecasted global economic growth for 2022 and 2023.
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Topic: Personality in News
1. Vinisha Umashankar selected as Batonbearer for the ongoing 16th official Queen’s Baton Relay.
- The Queen’s Baton for the upcoming 2022 Commonwealth games has arrived in India after visiting 72 countries.
- Vinisha Umashankar is selected as a “changemaker” and Batonbearer for the ongoing 16th official Queen’s Baton Relay.
- The 16th official Queen’s Baton Relay was started at Buckingham Palace, London on 7th October 2021. It will conclude at the opening ceremony of the Commonwealth Games on 28th July 2022.
- Vinisha Umashankar is an environmentalist. She created a mobile ironing cart, which uses solar panels to provide power to steam iron.
- The mobile ironing cart will eliminate the need for coal for ironing.
- She was awarded the Dr. APJ Abdul Kalam IGNITE Awards instituted by National Innovation Foundation (NIF) for her invention.
- The 2022 Commonwealth Games will be organized in venues across Birmingham and the West Midlands from 28 July until 8 August 2022.
2. Ujjivan SFB appointed Ittira Davis as its new MD & CEO.
- Ittira Davis has been appointed as Managing Director and Chief Executive Officer (MD & CEO) of Ujjivan Small Finance Bank (SFB).
- The appointment has been approved by the Reserve Bank of India (RBI) for a one-year term from 14 January 2022.
- Nitin Chugh, the former MD, and CEO of Ujjivan Small Finance Bank had resigned on September 30.
- The bank board's special committee of directors, which was constituted in the absence of a managing director to supervise operations and administration, was dissolved on January 13.
- Ujjivan Small Finance Bank:
- Ujjivan Small Finance Bank was set up by Ujjivan Financial Services Limited (UFSL).
- It started banking operations on February 1, 2017.
- Its headquarters is in Bengaluru.
- It is a Scheduled Small Finance Bank.
Topic: Personality in news
3. Deon Lendore died in a car accident in Texas.
- Deon Lendore, an Olympic and world 4x400m medallist died at the age of 29.
- Lendore was a three-time Olympian, who helped Trinidad and Tobago to win a bronze medal at the 2012 Olympic Games in London.
- He has also won two bronze medals in the world indoor 400m and another bronze in the 4x400m.
4. Philippines approves 374 million dollars deal as part of first Brahmos missile export order.
- The Philippines has approved a $374.96 million deal with India to purchase a shore-based anti-ship variant of the BrahMos supersonic cruise missile system.
- Delfin Lorenzana, the Philippines' Secretary of National Defense, has signed the 'Notice of Award' for the acquisition. The deal for the same will be signed shortly.
- The supersonic cruise missile "BrahMos" is produced by BrahMos Aerospace, a joint venture between India and Russia.
- It may be fired from submarines, ships, aeroplanes, or ground platforms.
- The BrahMos missile travels at 2.8 Mach, or almost three times the speed of sound.
- BrahMos Aerospace Limited (Brahmos Aerospace):
- It was founded on February 12, 1998.
- Atul Dinkar Rane, a senior scientist, was recently appointed as the new CEO of BrahMos Aerospace Limited.
- Its headquarters is located in New Delhi.
Topic: India and its Neighbourhood
5. Sri Lanka received around 900 million USD in financial aid from India.
- India has announced a loan of USD 900 million to help Sri Lanka in restoring its depleted foreign reserves and import food.
- It comprises a currency swap of USD 400 million between India and Sri Lankan central banks.
- Ajith Nivard Cabraal, the governor of the Central Bank of Sri Lanka, said that the island nation was negotiating a USD 1 billion loan from India to import products.
- Due to a lack of dollars to pay for imports, Sri Lanka is now facing scarcity of almost all basic things.
- Sri Lanka:
- It is an island country in South Asia.
- Its executive and judicial capital is Colombo, and its legislative capital is Sri Jayawardenepura Kotte.
- Currency: Sri Lankan rupee
- Gotabaya Rajapaksa is the current President of Sri Lanka.
- Mahinda Rajapaksa is the current Prime Minister of Sri Lanka.
Topic: Important Days
6. Indian Army Day: 15 January
- Indian Army Day is celebrated every year on 15 January to remember sacrifice of our soldiers to protect India and its citizens.
- This day is also celebrated to commemorate the moment when on 15 January 1949, Lt Gen KM Cariappa took over as Indian Army’s first Commander-in-Chief from Francis Bucher.
- Francis Bucher was the last British Commander-in-Chief of India. In 2022, India is celebrating 74th Army Day.
- Army Day Parade has been conducted at Cariappa Parade Ground.
- A song 'Maati' was released on the occasion of Army Day 2022. Song 'Maati' is sung by singer Hariharan.
- Indian Army will launch light and more climate-friendly combat uniform for its personnel on Army Day 2022.
- The monumental national flag will be put to a grand public display along India - Pakistan Border at Longewala in Jaisalmer to celebrate Army Day. This is the world’s largest national flag made of Khadi fabric.
(Source: News on AIR)
Topic: Banking System
7. RBI proposes new norms for classification of investment portfolio of banks.
- New norms for the classification of investment portfolio of banks have been proposed by RBI.
- As per proposed norms, banks’ investment portfolios will be divided into three categories.
- These categories are held-to-maturity (HTM), available for sale (AFS), and fair value through profit and loss account (FVTPL).
- Held-for-trading (HFT) shall be a sub-category within fair value through profit and loss account (FVTPL).
- New norms will come into effect from April 1, 2023. RBI has proposed new norms to align the investment portfolio of banks with the global prudential framework and accounting standards.
- The existing instructions on the prudential norms on classification and valuation of investment portfolio are largely based on the Report of Informal Group on Valuation of Banks’ Investment Portfolio.
- The recommendations of the informal group resulted in the issuing of prudential guidelines on the investment portfolio in October 2002. These guidelines form the basis of current norms.
Topic: National News
8. Union Minister Jitendra Singh launched AI-driven startup for water purification.
- Science & Technology Minister, Jitendra Singh, has launched AI-driven startup for water purification through innovative technology.
- It will provide clean drinking water at a cheaper rate. Under this project, solar water purification units will be used for slums, villages and high utility areas.
- With this innovation, the cost of purified water can be brought down to 25 paise per litre.
- This Gurugram based company was founded by ex-IITians. Its main aim is to develop innovative technology for providing clean drinking water at an affordable price.
- This company has also developed Water ATMs for providing clean drinking water solutions. Water ATM will use solar energy to pump water from rivers, wells, ponds or groundwater.
- An MoU has been also signed between Technology Development Board (TDB) and swajal water private limited.
9. IAMAI establish India EdTech Consortium to uphold code of conduct by edtech platforms.
- The Internet and Mobile Association of India (IAMAI) has announced the formation of the India EdTech Consortium to uphold the code of conduct by edtech platforms.
- India’s leading edtech companies like Byju’s, Careers 360, Great Learning, Harappa, Times Edutech & Events Ltd, Scalar, etc have joined this India EdTech Consortium (IEC).
- The IEC will ensure that every learner gets access to quality and affordable education.
- Apart from the common code of conduct, Edtech companies have to establish a two-tier grievance redressal mechanism.
- The consortium said that a framework will be formed to protect the right of learners and companies.
- This framework will cover ethical sales practices, marketing communication, loans and refunds, and grievance redressal mechanism.
- The government is planning for making a common policy for edtech firms.
- Internet and Mobile Association of India (IAMAI):
- It is a not-for-profit organization to represent the interests of the online and mobile value-added services industry.
- It was formed in 2004.
- It is headquartered in Mumbai.
- Sanjay Gupta is the Chairman of IAMAI.
Topic: Government Schemes and Initiatives
10. Government launched Fisheries Startup Grand Challenge.
- Department of Fisheries in association with Startup India has launched the “Fisheries Startup Grand Challenge”.
- This competition has been launched for startups to showcase their innovative solutions in the fisheries and aquaculture sector.
- The four themes have been identified for submission of problem statements under the Fisheries Start-up Grand Challenge.
- The selected 12 winners of the challenge will get a cash grant of Rs 2.00 Lakh each.
- In the final round, INR 20 lakh (General category) and INR 30 Lakh (SC/ST/Women) will be given to the winner for converting their ideas into an effective pilot project.
- Fisheries is one of the fastest-growing sectors among the primary producing sectors of India.
Topic: National News
11. Prime Minister Modi inaugurated MSME Technology Centre at Puducherry.
- Prime Minister Narendra Modi inaugurated a Technology Centre of the MSME at Puducherry.
- It is a world-class technology center and it will provide training to 20,000 youths. It will support 2000 MSMEs and incubate 200 Start-Ups.
- It will boost skill development and encourage entrepreneurship among the youth of the region.
- The government is setting technology Centers across the country under the flagship Technology Centre Systems Program.
- It will help existing and prospective MSMEs by providing production facilities, manpower, consultancy, etc.
- MSME stands for Micro, Small, and Medium Enterprises. The classification of MSMEs Enterprises are as follows:
- Micro Enterprises - Investment up to a maximum of 1 crore and annual turnover up to a maximum of 5 crores.
- Small Enterprises - Investment up to a maximum of 10 crore and annual turnover up to a maximum of 50 crore.
- Medium Enterprises - Investment up to 50 crores and annual turnover up to 250 crores.
12. Tasnim Mir becomes first Indian to clinch world no 1 ranking in Under-19 girls singles.
- Indian shuttler Tasnim Mir has become the first Indian to grab the world no 1 ranking in the under-19 girls singles BWF junior rankings.
- In 2021, she has won four junior championships including Bulgarian Junior Championship, Alpes International, and Belgian Junior.
- She is currently placed at 602nd position in the Women’s Single world ranking.
- She was part of India’s campaign at the Thomas and Uber Cup held in Denmark in 2021.
- She was the winner of the President Cup Nepal Junior International Series 2020 in Kathmandu.
- Earlier, Lakshya Sen, Siril Verma, and Aditya Joshi had got the world no 1 ranking in Boys singles at junior level.
- The BWF Junior ranking was started in 2011.
(Source: News on AIR)
13. United Nations forecasted global economic growth for 2022 and 2023.
- The United Nations has projected that the world economy will grow by 4% in 2022 and 3.5% in 2023.
- The UN said that new waves of COVID-19 infections, labour market challenges, supply chain issues, and inflation are the main challenges for world economies.
- Indian economy will grow at 6.5% in 2022 and by 5.9% in 2023. Coal shortages and high oil prices could put the brakes on economic activity.
- In 2021, the world economy has expanded by 5.5 %, the highest rate of global economic growth in the last four decades.
- Consumer spending, increase in investments, and trade in goods were the main factors of economic recovery in 2021.
- According to the UN report, labour shortage in developed economies has increased the challenge in supply chain management.
- High food and energy prices have increased inflation in Latin American and Caribbean countries. Recovery is very slow in tourism-dependent economies.
- Recently, World Bank has projected that the global economy will grow by 4.1% in 2022 and 3.2% in 2023.