Daily Current Affairs and GK | 5 May 2022

Topic: Sports

1. Madrid clinched 35th Spanish League title.

• Real Madrid wins the 35th Spanish league title by defeating Espanyol by 4-0.
• This is Madrid’s second title in three seasons and third in six years.
• In the final match, Rodrygo scored two goals while Marco Asensio and Karim Benzema scored the one-one goal.
• Carlo Ancelotti became the first coach to lift trophies in the top five European leagues.

Topic: State News/ Chhattisgarh

2. Chhattisgarh Bhupesh Baghel launched Mukhyamantri Mitan Yojana.

• This scheme has been launched to provide more than 100 government services to citizens.
• Currently, 13 types of services are available in 14 municipal corporations but now it will be expanded to the entire state.
• With the introduction of this scheme, citizens will get the benefit of citizen services at their doorstep in the stipulated time frame.
• CM has also distributed tablets to ‘Mitans’ deployed under the Mukhyamantri Mitan Yojana.
• Under this scheme, citizens will get domicile certificate, caste certificate, income certificate, birth certificate, etc. at their doorstep.
• The certificates will be provided to the applicants by ‘Mitan’ at their homes.
• Citizens will also get information about the process and necessary documents related to government services at Mitan toll-free number.

Topic: Art and Culture

3. India will be the official country of honour for the Cannes Film Market.

• India will be the official country of honour for the Cannes Film Market, which will take place from May 17 to May 25.
• India has been given an opportunity to pitch 5 selected movies at the “Goes to Cannes Section”.
• During the Cannes Film Festival's 75th anniversary, Satyajit Ray’s classic - Pratidwandi will be screened at the Cannes Classic section Cinéma de la plage.
• India is also a “Country of Honour at the Cannes Next, under which 5 new Start-Ups would be given an opportunity to pitch to the Audio-Visual Industry.
• At this edition of the Cannes Film Festival, World Premier of the Movie “Rocketry” produced by Shri. R. Madhavan will be also showcased.
• A cinema hall named Olympia Screen has been dedicated to India to screen "Unreleased Movies" on 22 May 2022.

Topic: State News / Maharashtra

4. First plastic waste recycling factory has been established in Raigad district to reduce pollution.

• A first-of-its-kind waste plastic recycling plant has been established in Maharashtra's Raigad district in an effort to reduce environmental pollution.
• The site, which is located in the Khopoli area, spans 2000 square meters and can recycle 1600 kilograms of plastic waste every day.
• The recycling plant uses innovative technology to ensure efficient sorting of waste and hot washing to eliminate contamination.
• Huhtamaki, a Finnish company that operates in the consumer goods packaging market in India, invested Rs 90 million to set up this plant.
• It is established as part of the Huhtamaki Foundation's #CloseTheLoop initiative, which aims to tackle post-consumer waste by providing valuable secondary resource material.

Topic: Indian Economy

5. India has received its 100th Unicorn as Neobank Platform Open.

• The Bengaluru-based neobank platform Open has become the 100th unicorn in India. It has raised $1 billion as part of its Series D round funding.
• Existing investors Tiger Global, Temasek, and 3one4 Capital all participated in the new round, which was led by Mumbai-based investment firm IIFL.
• Google, Temasek, Visa, and Japan's SoftBank invested $100 million in the neobank startup just six months ago.
• More than 20 lakh businesses in the country use the neobank platform, which conducts over $30 billion in transactions each year.
• According to the Bengaluru-based management consulting firm Redseer, the $31 billion fintech market in India will be disrupted with the emergence of neobanks.
• Neobanks are bridging the gap between the services provided by traditional banks and the changing customer expectations in the digital age.
• According to data from Venture Intelligence, Indian startups raised more than $10 billion in the first quarter of 2022, up from $5.7 billion in the same period of 2021.

Topic: Sports

6. Goa is hosting the 12th Hockey India Sub Junior Men National Championship.

• On 4 May, the 12th Hockey India Sub Junior Men National Championship 2022 kicked off in Goa.
• The event features a total of 29 teams. The participating teams are grouped into eight pools.
• Pool matches will take place during the first eight days, followed by Quarter-Finals on May 12 and Semi-Finals on May 14. The final match is set to take place on May 15.

(Source: News on Air)

Topic: Indian Economy

7. India’s services exports in 2021-2022 reached a new record of USD 254.4 billion.

• As per the commerce ministry, exports reached an all-time monthly high of USD 26.9 billion in March.
• As per the ministry, top contributors to the exports are computer, and information services, telecommunications, other business services and transport.
• New record of USD 254.4 billion in 2021-2022 surpasses the previous record of USD 213.2 billion in 2019-20.

Topic: Defence

8. Second ALH Mk III Squadron commissioned by Indian Coast Guard in Kochi.

• Coast Guard commissioned its 2nd Air Squadron, 845 Squadron (CG), at Coast Guard Air Enclave at Nedumbassery in Kochi.
• Coast Guard Director General V S Pathania commissioned new Air Squadron.
• New Air Squadron is equipped with Advanced Mark III (ALH Mark III) helicopters, which are indigenously developed.
• The Squadron is led by Commandant Kunal Naik.
• Indian Coast Guard:
  • It is an armed force, maritime, search and rescue, and law enforcement agency. It works under the Ministry of Defense.
  • It is headquartered in New Delhi. It was established on 18 August 1978.

Topic: Summits/ Conferences/ Meetings

9. Union Minister Mansukh Mandaviya launched PLASTINDIA 2023.

• PLASTINDIA 2023 is the 11th International Plastic Exhibition & Conference.
• Mansukh Mandaviya said that India’s Petrochemical Industries is one of the fastest-growing industries in the Indian economy.
• PLASTINDIA is a series of exhibitions under the Plastindia Foundation.
• PLASTINDIA 2023 will showcase India as the global hub for sourcing processed items related to Plastics.
• It will provide opportunities for employment generation and facilitate the growth of the Indian plastic industry.
• India will contribute more than 10% to petrochemical growth in the next decades.
• Exports of Indian Chemicals have registered growth of 106% in 2021-22 as compared to 2013-14.

(Source: News on AIR)

Topic: Important Days

10. World pulmonary hypertension day: 5 May

• Pulmonary hypertension organizations and groups celebrate World pulmonary hypertension day every year on 5 May.
• World pulmonary hypertension day was first celebrated in 2012 in Madrid, Spain.
• World pulmonary hypertension day raises awareness about the importance of improving the quality of life and raising the life expectancy.
• The day’s main aim is to increase awareness and understanding about pulmonary hypertension disease. The early diagnosis decreases premature PH-related deaths.
• World pulmonary hypertension day also aims to promote research for a better cure for pulmonary hypertension.
• Pulmonary hypertension is a disease in which blood pressure is high in the arteries of the lungs. Blood vessels in the lungs are narrowed, blocked or destroyed.

Topic: Reports and Indices/Ranking

11. India falls 8 positions in World Press Freedom Index.

• India's ranking in the World Press Freedom Index has fallen from 142nd rank to 150th position.
• India’s score has fallen from 50.29 in 2021 to 36.63 in 2022.
• Norway (1st) Denmark (2nd), Sweden (3rd) Estonia (4th) and Finland (5th) grabbed the top positions in the World Press Freedom Index 2022.
• North Korea remained on the bottom position out of 180 countries. China has been placed on 175th and Myanmar on the 176th position on the index.
• Among India's neighbours, only Nepal’s rank has improved. Pakistan and Sri Lanka have been placed on 157th and 146th positions.
• The index has been released by the Reporters Sans Frontieres. It has developed a new methodology to compile the 20th World Press Freedom Index (WPFI).
• This year’s World Press Freedom Index is based on five indicators including the political context, legal framework, economic context, sociocultural context and security.

Topic: Banking System

12. RBI increased repo rate by 40 bps.

• The Reserve Bank of India (RBI) has raised the repo rate from 4.0 per cent to 4.40 per cent.
• The repo rate has been increased for the first time since August 2018.
• The Reserve Bank of India (RBI) has also increased the cash reserve ratio (CRR) by 50 basis points.
• This step is expected to withdraw Rs 87,000 crore liquidity from the system. The cash reserve ratio (CRR) now stood at 4.5 per cent.
• Now, the standing deposit facility (SDF) rate stand at 4.15 per cent and the marginal standing facility (MSF) rate and the Bank Rate stands at 4.65 per cent.
• Repo is the rate at which the central bank lends short-term funds to banks.

Topic: Sports

13. Kerala wins Santosh Trophy title by defeating West Bengal.

• Kerala defeated West Bengal by 5-4 in the finals of the Santosh Trophy at the Manjeri Payyanad Stadium.
• Kerala won their seventh Santosh Trophy title. This is Kerala’s third win in a Santosh Trophy tournament on home soil.
• Kerala captain Jijo Joseph has been adjudged as the player of the match for outstanding performance.
• Santosh Trophy is one of the oldest football tournaments.

Topic: National Appointment

14. Sangeeta Singh given additional charge of Chairman, Central Board of Direct Taxes (CBDT).

• Sangeeta Singh has taken the charge on 2 May after the retirement of JB Mohapatra.
• JB Mohapatra was appointed as full-time chairman of the Central Board of Direct Taxes in September last year.
• Sangeeta Singh is currently holding charge of Audit and Judicial and she is also holding additional charge of Income Tax and Revenue and Tax Payers services.
• Central Board of Direct Taxes:
  • The Central Board of Direct Taxes frames the policy for the Income Tax Department.
  • It is headed by a chairman and comprises six members.
  • Income Tax Department is headed by the Central Board of Direct Taxes (CBDT).