Daily Current Affairs and GK | 5 July 2022

Topic: MoUs/Agreements

1. India-Armenia inked an MoU on High Impact Community Development Projects in Armenia.

• The MoU has been signed at the 8^th India-Armenia Intergovernmental Commission (IGC).
• Both sides discussed the current status of cooperation in the field of Investments, health, tourism, infrastructure, etc.
• A Mahatma Gandhi Auditorium has been also inaugurated at the Yerevan State Medical University (VSMU).
• The 6^th and 7^th IGC were organized in New Delhi.
• Armenia:
  • It is a landlocked country in western Asia.
  • Yerevan is the capital of Armenia and the currency is Dram.
  • Nikol Pashinyan is the current Prime Minister of Armenia.
  • India recognized the independent Republic of Armenia in 1991.

(Source: News on AIR)

Topic: New Developments

2. AI-based software has been developed by DGDE to detect unauthorised constructions & encroachments on defence land.

• The Centre of Excellence on Satellite & Unmanned Remote Vehicle Initiative (CoE-SURVEI) has developed this Change Detection Software in association with Bhabha Atomic Research Centre (BARC).
• It will automatically detect changes on the ground by using Satellite Imagery.
• It uses the latest technologies in the survey including satellite imagery, drone imagery and geo-spatial tools. It detects changes on the ground by analysing satellite imagery regularly.
• This software will help in the optimum use of defence land through Geographic Information System (GIS)-based land management systems.
• At present, this software uses the National Remote Sensing Centre (NRSC) Cartosat-3 imagery. This is being used by the Centre of Excellence (CoE) in 62 Cantonments.
• This software facilitates better control over unauthorized activities and ensures accountability of field staff.
• Directorate General, Defence Estates (DGDE) is the headquarters of the Indian Defence Estates Service. It provides advisory inputs on all Cantonments and Land matters to the Ministry of Defence and other organizations under Ministry of Defence. It also ensures implementation of Cantonments Act 2006, Policies, Rules & Regulations and Executive instructions.

Topic: Personality in News

3. Sini Shetty of Karnataka crowned Miss India World 2022.

• At the VLCC Femina Miss India grand finals, Sini Shetty of Karnataka was declared the winner of the Femina Miss India World 2022 title.
• She will now participate in the 71^st Miss World pageant as India's representative.
• Shetty (age 21) was crowned Femina Miss India World 2022 by Manasa Varanasi, Miss India 2020, at the JIO World Convention Center in Mumbai.
• Rubal Shekhawat (from Rajasthan) is the first runner-up of Femina Miss India 2022, while Shinata Chauhan (from Uttar Pradesh) is the second runner-up.
• It was the 58^th edition of the Femina Miss India beauty pageant.

Topic: Corporates/Companies

4. Neelachal Ispat Nigam Limited's (NINL) strategic disinvestment has been completed.

• NINL is a Joint Venture comprising 4 CPSEs – MMTC (49.78%), NMDC (10.10%), BHEL (0.68%), and MECON (0.68%), and 2 Odisha Government PSUs, OMC (20.47%) and IPICOL (12%).
• The MNINL strategic disinvestment transaction has got completed with the transfer of 93.71 percent of the shares to the strategic buyer, Tata Steel Long Products Limited.
• The Strategic Buyer paid Rs 12,100 crores for the Enterprise Value.
• This payment has been used for the settlement of dues of employees, operating creditors, secured financial creditors, and vendors in accordance with the SPA.
• On March 10, 2022, the Share Purchase Agreement (SPA) was signed.

(Source: PIB)

Topic: Infrastructure and Energy

5. ReNew will train 1,000 women salt-pan workers in collaboration with UNEP and SEWA under Project Surya.

• ReNew, in collaboration with the United Nations Environment Programme (UNEP) and the Self-Employed Women's Association of India (SEWA), launched "Project Surya" to support India's renewable energy goal.
• Women will be trained as solar panel and solar-pump technicians at Dhokwara village in Patan district of Gujarat.
• SEWA is the lead implementation partner of the Project. ReNew will provide financial support and help the project's stakeholders become familiar with its local renewable facility.
• UNEP will be responsible for project monitoring and evaluation.
• Self-Employed Women's Association of India (SEWA):
  • It is a national trade union of over 1.5 million low-income, self-employed women workers from 16 states in India.
  • It was founded in 1972. It is headquartered in Ahmedabad.

Topic: State News/ Himachal Pradesh

6. ‘Naari Ko Naman’ scheme has been launched by Himachal CM.

• Himachal Road Transport Corporation (HRTC) will now charge only half the fare for women traveling within the state.
• Chief Minister Jai Ram Thakur, while launching the Nari Ko Naman Yojana at the Government College Auditorium, also released concessional tickets to women.
• On Himachal Diwas (15 April), the Chief Minister had announced a 50% discount on bus fares for women.
• In another scheme, the minimum bus fare from Rs 7 to Rs 5 has also been reduced for all passengers across the state.
• The government will also approve 25 new posts of women drivers in the government taxi service 'Ride with Pride', an initiative to ferry women passengers and senior citizens.

Topic: Banking System

7. RBI has imposed penalties on Kotak Mahindra Bank and IndusInd Bank.

• RBI has imposed penalties of Rs 1.05 crore on Kotak Mahindra Bank for violation of norms related to ‘The Depositor Education and Awareness Fund Scheme, 2014’ and for non-compliance with certain directions.
• RBI has imposed the penalty of Rs 1 crore on IndusInd Bank for non-compliance with certain Know Your Customer (KYC) norms.
• RBI has also imposed penalties on four co-operative banks. These co-operative banks are given below.
  • Nav Jeevan Co-operative Bank
  • Balangir District Central Cooperative Bank Limited, Balangir
  • Dhakuria Cooperative Bank Ltd, Kolkata
  • The Palani Co-operative Urban Bank Limited, Palani
• IndusInd Bank is a private sector bank founded in 1994. It is headquartered in Mumbai.
• Kotak Mahindra Bank:
  • It was India’s 3^rd largest private sector bank in terms of assets and by market capitalisation as of November 2021.
  • It was founded in 2003. It is headquartered in Mumbai.

Topic: Summits/ Conferences/ Meetings

8. Department of Food and Public Distribution organized National Conference on Food and Nutrition Security in India on 5^th July 2022 in New Delhi.

• The aim of the conference was to disseminate best practices for schemes under Public Distribution System (PDS).
• The conference also aimed at strengthening the focus on nutritional security.
• The key highlights of the conference included the discussion on the Food Fortification and Diversification of Food basket.
• The key highlights of the conference also included Crop Diversification, integrated Annavitran Portal 2.0, and Reforms in PDS and Storage sector.
• India’s Targeted Public Distribution System, under the National Food Security Act, 2013 (NFSA) is the largest public food-security program in the world.

Topic: Government Schemes and Initiatives

9. Government launched ‘Swachh Sagar, Surakshit Sagar’ campaign to celebrate International Coastal Cleanup Day.

• The government with the help of voluntary organizations, and the local society will run a cleanliness campaign "Swachh Sagar, Surakshit Sagar" along India’s entire coastline.
• This 75-day-long campaign was launched on 3^rd July 2022.
• Ministry of Earth Sciences (MoES), Ministry of Environment Forest and Climate Change (MoEFCC), and Indian Coast Guard will also be part of this initiative.
• This campaign will create awareness about marine litter, minimal use of plastics, segregation at source and waste management.
• It will be the first-of-its-kind longest coastal cleanup campaign in the world. It will convey the message of “Swachh Sagar, Surakshit Sagar”.
• This coastal cleanup drive will be carried out at 75 beaches and end on "International Coastal Cleanup Day" on 17^th September 2022.
• “Eco Mitram” App has been also launched to spread awareness about the campaign and for the voluntary registration for cleaning activities.
• Every year, "International Coastal Clean-Up Day" is celebrated on the third Saturday of September.

Topic: State News/ Odisha

10. Odisha Finance Minister Niranjan Pujari presented Rs 2 lakh crore budget for FY23.

• The Odisha government tabled the budget for the financial year 2022-23 in the state assembly.
• The budget is focused on strengthening infrastructure, developing education, and improving the livelihoods of people.
• This year’s Budget is around 17.6 percent more than last year’s budget.
• Rs 1 lakh crore of the total budgetary estimates is the planned expenditure and Rs 38,732 crore has been allocated for the capital outlay.
• The proposed expenditure will be financed through revenue receipts of Rs 1,63,967 crore and borrowing and other receipts of Rs 36,033 crore.
• For 2022-23, the state's share in central taxes was Rs 36,978 crore. The state government’s own tax revenue was Rs 46,000 crore and non-tax revenue was Rs 48,200 crore.
• The capital spending will increase by more than 56 percent. The government will allocate Rs 2,000 crore for ‘Mission Shakti’.
• Rs 547 crore has been proposed for the development of rail projects in the state. Rs 2,664 crore will be spent on the Biju Swasthya Kalyan Yojana.
• Rs 27,324 crore has been allocated to the education and skill development sector.

Topic: Reports and Indices/Ranking

11. Commerce and Industry Minister Piyush Goyal released states' Startup ranking 2021.

• Department for Promotion of Industry and Internal Trade (DPIIT) has released states' Startup ranking 2021.
• The ranking has been given to states and UTs under five categories - best performers, top performers, leaders, aspiring leaders and emerging startup ecosystems.
• In the ‘Best performers’ category, Gujarat and Karnataka were adjudged as the best performers in ‘category A’ while Meghalaya is selected in ‘category B’.
• Kerala, Maharashtra, Odisha and Telangana have been kept in ‘category A’ of ‘Top performers’ while Jammu & Kashmir is the top performer in ‘category B’.
• In the ‘Leader’ category, Assam, Punjab, Tamil Nadu, Uttarakhand and Uttar Pradesh are the top performer's states in ‘category A’.
• Arunachal Pradesh, Andaman & Nicobar Islands and Goa were ranked ‘leaders’ in ‘category B’.
• Delhi, Chhattisgarh, Madhya Pradesh and Rajasthan are in the ‘Aspiring leaders’ category.
• Bihar, Andhra Pradesh, Mizoram and Ladakh are kept in the ‘Emerging startup ecosystems’ category.
• A total of 24 states and 7 Union territories (UTs) participated in this ranking exercise.
• This ranking is based on the States’ performance across seven reform areas divided into 26 action points.

Topic: Government Schemes and Initiatives

12. MSDE announced that National Apprenticeship Promotion Scheme (NAPS) will be part of the DBT scheme.

• Ministry of Skill Development and Entrepreneurship (MSDE) has launched the Direct Beneficiary Transfer (DBT) scheme to extend monetary support to apprentices.
• Under the DBT scheme, the government will directly transfer the financial aid to the bank accounts of apprentices through National Skill Development Corporation (NSDC).
• It will boost apprenticeship and help in providing skills to the youth of India.
• Under the National Apprenticeship Promotion Scheme, for the first group of apprentices, subsidized financial assistance through DBT has reached their accounts.
• National Apprenticeship Promotion Scheme (NAPS) was launched in 2016 to promote apprenticeship training in India.

Topic: Defence

13. Indian Army organized “SURAKSHA MANTHAN 2022” on aspects of Border & Coastal Security in Jodhpur.

• It was organized by the Desert Corps of the Indian Army.
• It was jointly presided by Shri Pankaj Kumar Singh, VS Pathania and Rakesh Kapoor.
• A joint training calendar was also formulated for interoperability and jointness amongst the security forces.
• It was decided that current security threats and challenges will be added in the forthcoming exercises.
• Interoperability, operational cohesion and logistics will be the key factor in enhancing the security near International Boundary (IB) and coastal areas.

Topic: Indian Economy

14. CRISIL lowered India’s GDP growth forecast for 2022-23 to 7.3 percent from 7.8 percent.

• CRISIL rating agency has downgraded the forecast due to rising oil prices, slow global demand for exports and high inflation.
• CRISIL states that high Inflation has reduced the purchasing power which will create an impact on the consumption component of the GDP.
• CRISIL predicted that the current account deficit will increase from 1.2 percent to 3 percent of GDP in FY23.
• The rupee-dollar exchange rate will remain volatile and the rupee will be around 78 to the US dollar in FY 23.
• CRISIL states that high commodity prices have created a domino effect on India. Domino effect is the cumulative effect produced when one event sets off a chain of similar events.
• RBI is likely to hike the rate by another 75 basis points to control the rising inflation.