Daily Current Affairs and GK | 21 September 2022

Topic: Summits/ Conferences/ Meetings

1. Union Minister Piyush Goyal attended the Ministerial meeting of the India-Saudi Arabia Strategic Partnership Council.

• Union Minister of Commerce and Industry Piyush Goyal was on a two-day visit to Saudi Arabia from 18^th to 19^th September 2022.
• Abdulaziz bin Salman Al-Saud co-chaired the Ministerial meeting of the Committee on Economy and Investments of the India-Saudi Arabia Strategic Partnership Council.
• During the meeting, both sides agreed upon the 41 areas of cooperation under four domains- Agriculture & Food Security; Energy; Technology & IT; and Industry & Infrastructure.
• Both sides signed an agreement for the implementation of the priority projects within a timeframe.
• Automatic registration and marketing authorization of Indian pharma products in Saudi Arabia, the feasibility of institutionalizing the Rupee-Riyal trade, and the introduction of UPI and Rupay cards in Saudi Arabia were the main points of the discussion.
• Both sides discussed ways to diversify bilateral trade to boost economic ties.
• Piyush Goyal also inaugurated "The India Week" in Riyadh as part of the initiatives to celebrate Indian products.
• The Strategic Partnership Council was formed in 2019. It has mainly two pillars: Political, Security, Social and Cultural Committee and the Committee on Economy and Investments.

(Source: News on AIR)

Topic: State News/Andaman Nicobar Islands

2. Andaman Nicobar Islands has become India's first state/UT to achieve 100% coverage of precautionary dose.

• Over 2,87,216 beneficiaries aged 18 have been vaccinated with a precautionary dose till now.
• The rate of vaccination has increased after July 15 when the government decided to offer free precautionary doses as part of the "Azadi ka Amrit Mahotsav".
• The target has been achieved before the deadline of the 30th of September.
• First, Nicobar district has been fully covered with a precautionary dose.
• Later, the North and Middle Andaman and South Andaman districts were fully covered.
• Corbevax along with Covishield have been given as a precautionary dose in the islands.  
• Apart from this, the youths under 15-18 yrs. and 12-14 yrs age category have been also fully vaccinated.
• A&N Islands have achieved the target in all the above three categories.

Topic: Defence

3. Indian Naval Ship Ajay (P34) decommissioned on 19 September 2022.

• INS Ajay’s decommissioning ceremony was held at Mumbai’s Naval Dockyard.
• Vice Admiral Ajendra Bahadur Singh, Flag Officer Commanding-in-Chief of the Western Naval Command was the chief guest at decommissioning ceremony.
• The guest of honour was Vice Admiral AG Thapliyal, AVSM Bar (Retd), who served as the ship’s first commanding officer.
• During the service, the ship was posted on various critical deployments including Operation Talwar during the Kargil War in 1999 and Operation Parakram in 2001.
• INS Ajay:
  • It was an Abhay class anti-submarine warfare corvette of Western Naval Command.
  • It was commissioned on January 24, 1990, in the then USSR’s Poti port, Georgia.
  • During its service period, it was part of the 23^rd Patrol Vessel Squadron under the Flag Officer Commanding, Maharashtra Naval Area.

Topic: National Appointments

4. President Droupadi Murmu has approved the appointments of Directors to eight IITs.

• IIT, Madras Professor Seshadri Sekhar has been appointed as Director of IIT, Palakkad.
• IIT, Madras Professor Shreepad Karmalkar has been appointed as Director of IIT, Bhubaneshwar.
• IIT, Kharagpur's Venkayappaya R. Desai will be the new Director of IIT, Dharwad.
• IIT, Dharwad Director Pasumarthy Seshu has been appointed as Director of IIT, Goa.
• IIT, Bhilai Director Rajat Moona has been given the responsibility of the Director of IIT, Gandhinagar. Other appointments are given in next table.

Topic: Banking System

5. RBI has decided to remove Central Bank of India from Prompt Corrective Action Framework (PCAF).

• The decision was taken after the Central Bank of India showed improvement in various financial ratios, including minimum regulatory capital and net non-performing assets (NNPAs).
• The Central Bank of India's net profit increased by 14.2% to Rs 234.78 crore in the first quarter of the current fiscal year, compared to Rs 205.58 crore in the same period of the previous fiscal year.
• Once these restrictions are lifted, the bank can disburse the loan without any restrictions.
• In June 2017, RBI had decided to keep the Central Bank of India under the ambit of PCA. This ban has been lifted after about 5 years.
• The bank was placed on the PCA watch list due to the high level of net NPAs on the bank and low return on assets.
• Apart from the Central Bank, the RBI had also placed the Indian Overseas Bank and UCO Bank on the watch list for violation of PCA norms.
• Indian Overseas Bank and UCO Bank were removed from the PCA in September 2021.
• Prompt Corrective Action Framework (PCAF):
  • PCA norm is applied in case the bank does not comply with the regulatory provisions relating to capital to risk-weighted assets ratio (CRAR), net NPA, and return on assets (RoA).
  • Once placed in the PCA purview, that bank is barred from giving open loans in many ways and has to work within a variety of restrictions.

Topic: Miscellaneous

6. Gujarati film ‘Chhello Show’ has been declared as India's official entry for Oscars 2023.

• The Film Federation of India announced the ‘Chhello Show’ as India’s entry for the 95^th Academy Awards.
• Chhello Show has been selected in the Best International Feature Film category.
• The Director of the film is Pan Nalin.
• The film is scheduled to release in Indian cinemas on October 14.
• The title of ‘Chello Show’ is Last Film Show in English.
• Chello Show is a story of a 9-year-old teenage boy. He lives in a remote village in India and has a deep connection with the cinema.
• The film depicts how a little boy spends an entire summer watching movies from a projection booth.

(Source: News on AIR)

Topic: Banking System

7. Institute for Development and Research in Banking Technology (IDRBT) has developed LoRa (Long Range Radio) technology.

• Due to this technology, it will be possible for people in remote areas without satellite signals to access banking services.
• As per D. Janakiram, Director of IDRBT, a new dedicated low-cost financial network has been created.
• This can be used privately by banks to send encrypted texts to conduct financial transactions.
• IDRBT is the first in the world to develop this network based on LoRa (Long Range Radio) technology.
• LoRa is a wireless modulation technique. It allows long-range communication using the chirp spread spectrum.
• This can be used by banks as their own private network instead of a third-party network based either on satellite link or wired.
• The cost of the LoRa financial network is estimated to be 20% cheaper.
• The institute had successfully carried out a pilot for the technology. It is in the process of filing a patent for LoRa based financial network.
• IDRBT is located in Hyderabad, Telangana. It was established in 1996. Its current director is D. Janakiram.

Topic: National News

8. India’s Presidency of the Asia-pacific Institute of Broadcasting Development (AIBD) has been extended for one more year.

• AIBD member countries unanimously decided this at the two-day General Conference held in New Delhi.
• Information and Broadcasting Minister Anurag Singh Thakur inaugurated the conference on 19 September 2022.
• Presently, the President of AIBD is Mayank Kumar Agrawal. He is the Chief Executive Officer of Prasar Bharati and Director General of Doordarshan.
• Asia-Pacific Institute for Broadcasting Development (AIBD):
  • It was established in 1977. It currently has 26 countries as full members represented by 43 organizations. It has 52 affiliate members.
  • It is a regional inter-governmental organization of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) in the field of electronic media development.

Topic: Important Days

9. World Alzheimer's Day: 21 September

• World Alzheimer's Day is observed on 21 September.
• The theme for this year’s world Alzheimer's month is - know dementia, know Alzheimer's.
• World Alzheimer's month is held every year in September.
• Alzheimer's disease is the most common form of dementia.
• It is a progressive brain disease. It results in loss of memory and thinking skills.
• It destroys the brain cells. This causes erratic behaviour, memory loss, memory changes, and loss of body functions.

(Source: News on AIR)

Topic: Government Schemes and Initiatives

10. Union Minister Dharmendra Pradhan launched the SCALE app for skill development in the leather sector.

• Union Minister Dharmendra Pradhan launched the SCALE (Skill Certification Assessment for Leather Employees) app at Central Leather Research Institute, Chennai.
• It is a one-stop solution for the skilling, learning, assessment, and employment needs of the leather industry.
• The SCALE app has been developed by the Leather Skill Sector Council.
• People interested in leather craft can access online live-streamed classes through the app.
• The Ministry of Skill Development and Entrepreneurship, NSDC, CLRI and Leather Sector Skill Council will collaborate to set up Common Facilities and Skilling Centre across India.
• Union Minister Dharmendra Pradhan lauded the role of CSIR-CLRI for playing an important role in the development of the leather sector.
• The Indian leather industry contributes around 13 per cent to the world's leather production of hides/skins.
• The major production centres for leather and leather products in India are located in the state of Tamil Nadu, West Bengal and Uttar Pradesh.

(Source: News on AIR)

Topic: Defence

11. Indian and U.S. Coast Guards conducted a joint exercise ‘Abhyas-01/22’ on 19 September off the coast of Chennai.

• ‘Abhyas-01/22’ will enhance interoperability in the field of maritime search and rescue (SAR), boarding operations, and other maritime law enforcement duties.
• The Joint anti-piracy operation, various fleet manoeuvres, a coordinated joint boarding operation were the main part of the exercise.
• The exercise will strengthen the defence ties between India and the United States.
• Joint exercise 'Abhyas-01/22' marked the culmination of the four-day goodwill visit of the US Coast Guard ship Midgett to Chennai.
• ‘Midgett’ is the largest and most technologically advanced class of vessels. It is equipped with a UAS Scan Eagle drone, MH-65 helicopter, and other equipment.

India and United State Defense exercise:

Topic: Banking System

12. Insolvency and Bankruptcy Board of India (IBBI) amended the regulation to maximize value in resolution.

• To provide better market-linked solutions for stressed companies, IBBI has amended its regulations.
• The amended regulation will allow the sale of one or more assets of an entity through the insolvency resolution process.
• The Committee of Creditors (CoC) can now examine whether a compromise or an arrangement can be done for the corporate debtor during the liquidation period.
• The amendment in regulation will ensure that information about the insolvent company and its assets is available to the market.
• The amendment will give a boost to better market-led solutions for insolvency resolution.
• The new regulation will become effective on September 16. As of June 2022, 1,703 Corporate Insolvency Resolution Processes (CIRPs) have been completed.
• Insolvency and Bankruptcy Board of India (IBBI):
  • It was established on 1 October 2016 under the Insolvency and Bankruptcy Code, 2016.
  • It is responsible for the implementation of the IBC code.

Topic: International News

13. India and Egypt signed an MoU to strengthen defence ties.

• India and Egypt agreed to enhance cooperation between their defence industries.
• The MoU has been signed by Defence Minister Rajanth Singh and his counterpart, General Mohamed Zaki.
• Defence Minister Rajanth Singh was on a two-day visit to Cario, Egypt.
• India and Egypt also agreed to enhance the conduct of joint exercises and exchange of personnel for training.
• Both sides also exchanged views on regional security and acknowledged the contribution of both countries to peace and stability.
• Rajnath Singh invited his Egyptian counterpart to the India-Africa Defense Dialogue and Indian Ocean Region (IOR) Defense Ministers’ conclave.
• India and Egypt relations:
  • Egypt is traditionally one of India's most important trading partners of India in the African continent.
  • India and Egypt friendship started with the signing of the Friendship Treaty in 1955.
  • India-Egypt’s Bilateral Trade Agreement has been in operation since March 1978.
  • India and Egypt bilateral trade reached a historic record high of USD 7.26 bn in FY 2021-22.

(Source: News on AIR)

Topic: Sports

14. Bangladesh won the SAFF Women’s Championship by defeating Nepal by 3-1.

• Bangladesh won its maiden SAFF Women’s Championship title at the Dashrath Rangshala Stadium in Kathmandu.
• Krishna Rani Sarkar and Sirat Jahan Swapna scored goals from the Bangladesh side, while Anita Basnet scored a goal from the Nepal Side.
• Bangladesh captain Sabina Khatun remained the top scorer of the tournament with 8 goals in 5 matches.
• Sabina Khatun also won the Most Valuable Player award.
• Bangladesh’s goalkeeper Rupna Chakma got the best goalkeeper award.
• The SAFF Women's Championship 2022 was the 6^th edition of the SAFF Women's Championship. It is organized by the South Asian Football Federation (SAFF).

(Source: News on AIR)

Topic: State News/ Assam

15. Union Minister Sarbananda Sonowal launched multiple projects for the development of the Bogibeel region in Assam.

• Union Minister Sarbananda Sonowal laid the foundation stone for the construction of two floating jetties at Bogibeel and Guijan.
• Both the jetties will be constructed by IWAI over the Brahmaputra River. These will be built at a cost of ₹ 8.25 crore by February 2023.
• Apart from floating jetties, Ferry Ghats, floating restaurants, public eating stalls, tourist visits, and picnic spots will also be constructed to make the area a famous tourist spot.
• He also inaugurated Bogibeel Riverfront Passenger Jetty, which has been developed by the Northeast Frontier Railways (NFR).
• A permanent cargo terminal at Bogibeel is also being planned for the transport of cargo from the neighbouring industries.
• The Project Influence Area (PIA) for Bogibeel terminal comprises areas from the districts of Golaghat, Jorhat, Sibsagar, Dibrugarh, Tinsukia, and parts of Nagaland.
• The Project Influence Area (PIA) is known for the paper industry, coal deposits, food processing units, tea estates, fertilizer production units, etc.
• The developmental works at Bogibeel are being done as per the PM Gati Shakti National Master Plan.
• Assam:
  • It is a northeastern state of India.
  • It is divided into 35 Administrative Districts.
  • Himanta Biswa Sarma is the current Chief Minister of Assam, and Prof Jagdish Mukhi is the Governor.
  • Bihu is the most popular folk dance in Assam.