Current Affairs April 10th & 11th 2022| Current Affairs News

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CURRENT AFFAIRS: IMPORTANT DAYS

CRPF Valour Day- 9th April:

• On April 9th, the Central Reserve Police Force (CRPF) celebrates Valour Day (Shaurya Diwas) to tribute to the Force’s courteous personnel.
• The 57th CRPF Valour Day will be held in 2022.
• On this day in 1965, a small force of the CRPF made history by beating a Pakistani army that was several times larger at the Sardar Post in Gujarat’s Rann of Kutch.
• The CRPF forces killed 34 Pakistani soldiers and kidnapped four others.
• Six members of the CRPF were martyred during the violence.
• The Central Reserve Police Force is India’s largest Central Armed Police Force.
• It functions under the authority of the Ministry of Home Affairs of the Government of India.
• The CRPF’s primary role lies in assisting the State/Union Territories in police operations to maintain law and order and counter-insurgency.

CURRENT AFFAIRS: NATIONAL NEWS

The Ministry of Sports releases USD 72,124 to the UNESCO Fund for Elimination of Doping:

• The Government of India’s Ministry of Youth Affairs and Sports has given USD 72,124 to the UNESCO Fund for the Elimination of Doping in Sport 2022.
• This is double the amount of the minimum agreed value. As per the resolution of 7COP held at Paris between 29-31 September 2019, the State Parties had agreed for contributing 1% of the regular budget of their respective nations to UNESCO towards the Fund for the Elimination of Doping in Sport.
• India contributed USD 28172 to the UNESCO Fund in 2021.
• The funds given will help the Fund implement its Operational Strategy 2020-2025.

Cabinet approves extension of Atal Innovation Mission till March 2023:

• The Union Cabinet chaired by Prime Minister Narendra Modi has approved the continuation of Atal Innovation Mission (AIM), till March 2023.
• The AIM shall work on its intended target of creating an innovation culture and entrepreneurial ecosystem in the country.
• This will be done by AIM through its various programmes and under intended targets that will be achieved by AIM are: establishing 10,000 Atal Tinkering Labs (ATLs), establishing 101 Atal Incubation Centres, establishing 50 Atal Community Innovation Centres, and supporting 200 start-ups via the Atal New India Challenges.
• The AIM has focused on both infrastructure creation and institution building and it has created bilateral relations with various international agencies for building synergistic collaboration on innovation and entrepreneurship.

PM Mudra Yojana celebrates the completion of 7 years:

• April 9^th is the 7th anniversary of Pradhan Mantri Mudra Yojana, PMMY.
• The scheme was launched by Prime Minister Narendra Modi on 8th April 2015, for providing loans up to 10 Lakh rupees to the non-corporate, non-farm small, or micro-enterprises.
• More than 34 crore 42 lakh loans for an amount of 18.60 lakh crore rupees have been sanctioned since launch of Pradhan Mantri Mudra Yojana.
• Around 68 percent loans of the total number of loans have been sanctioned to Women Entrepreneurs.
• Almost 22 percent of the loans have been given to New Entrepreneurs.
• The Scheme has helped in creating an enabling environment, particularly for small businesses, and has helped generate large-scale employment opportunities at the grassroots level.
• Pradhan Mantri MUD RA Yojana PMMY has given wings to the dreams and aspirations of millions, along with a feeling of self-worth and independence.

The National Commission for Women launched an Anti-Human Trafficking Cell:

• The National Commission for Women launched an Anti-Human Trafficking Cell to improve effectiveness in tackling cases of human trafficking, raising awareness among women and girls, capacity building and training of Anti Trafficking Units and increasing responsiveness of law enforcement agencies.
• The Cell has been set up with an aim of increasing awareness among law enforcement officials and facilitating their capacity building.
• The Cell will conduct Gender Sensitization Training and Workshops in combating human- trafficking for police officers and for prosecutors at the regional, state and district levels.
• The complaints related to human trafficking received by the Commission will be addressed by this cell.
• The Commission has observed that some of the major issues faced in combating trafficking include lack of rehabilitation for victims and insensitive attitude towards trafficked survivors and their families.
• The Cell will also help survivors of trafficking in rebuilding their lives by providing them with need-based training and by organizing capacity building programs for them to prevent the re-traumatisation of victims.

India’s first case of XE variant of coronavirus disease reported from Mumbai:

• India’s first case of the XE variant of the coronavirus disease (Covid-19) was reported from Mumbai
• Results of the 11th genome sequencing declared by the city civic body Brihanmumbai Municipal Corporation (BMC), found one sample positive for XE variant and another for Kappa variant.
• The individual who tested positive for the XE variant was a fully vaccinated 50-year-old women with no comorbidity and asymptomatic.
• She had come from South Africa on February 10 and had no prior travel history. On arrival, she had tested negative for the virus.

CURRENT AFFAIRS : STATE NEWS

Maharashtra & NTPC to set up ultra-mega 2500-MW solar power park

• Maharashtra State Power Generation Company (MAHAGENCO) will form an equal joint venture with state-run NTPC Ltd to set up an ultra mega solar park in Maharashtra with 2500 MW generation capacity.
• The proposal to form a joint venture company was approved in the cabinet meeting chaired by Chief Minister Uddhav Thackeray.
• The solar park envisages an investment of Rs 1726.62 crore of which Rs 500 crore (Rs 20 lakh each per megawatt) from the Centre.
• The state energy department has been appointed as a nodal agency for project development & It will be set up on a 70:30 debt equity ratio.
• National Thermal Power Corporation Limited (or its subsidiary) and Maharashtra State Power Generation Company (Mahagenco) will have a capital investment of 50:50, respectively, for the development of Ultramega Renewable Solar Park.

About Maharashtra :

• Governor: Bhagat Singh Koshyari
• Capital: Mumbai
• Chief minister: Uddhav Thackeray

About Mahagenco :

• Founded : 6 June 2005
• Headquarters : Bandra, Mumbai, Maharashtra,India
• Chairman : Dr Nitin Raut
• MD : Shri Sanjay Khandare
• The Mahanirmiti or Mahagenco formerly known as MSEB (Maharashtra State Electricity Board) is a major power generating company in Maharashtra.
• It is the second largest power producing company in India with a total generation of 14,400 MW after National Thermal Power Corporation Limited (NTPCL).
• It has been incorporated under Indian Companies Act 1956.

About NTPC :

• Founded : 7 November 1975
• Headquarters : New Delhi, Delhi, India
• Chairman & MD : Gurdeep Singh
• It is a statutory corporation incorporated under the Companies Act 1956 and is under the ownership of the Ministry of Power, GoI.

CURRENT AFFAIRS : BANKING & FINANCE

RBI Monetary Policy: Repo rates unchanged at 4%; GDP growth projected at 7.2%

• On the basis of an assessment of the current and evolving macroeconomic situation, the Reserve Bank of India conducted its first Monetary Policy Committee (MPC) meeting for 2022-23 between April 6- 8, 2022.
• The Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, held its first meeting in the current financial year.

Various rates under MPC :

• Policy Repo Rate : 4.00%
• Reverse Repo Rate : 3.35%
• Marginal Standing Facility Rate : 4.25%
• Bank Rate : 4.25%
• CRR : 4.00%
• SLR : 18.00%
• RBI has not also changed repo and the reverse repo rates since May 2020.
• The Monetary Policy Committee has also decided to maintain an accommodative policy stance in the recent announcements.

GDP :

• RBI has projected the real GDP growth for 2022-23 at 7.2 per cent.

Inflation :

• The RBI has projected that inflation will be higher than that of February.
• The inflation forecast for the fiscal 2022-23 has been increased to 5.7 per cent against the previous estimate of 4.5 per cent.

Note :

• The next meeting of the Monetary Policy Committee is scheduled during June 6-8, 2022.

RBI imposes monetary penalties on Axis Bank, IDBI Bank                                                   

• The Reserve Bank of India (RBI) has imposed monetary penalties of Rs 93 lakh and Rs 90 lakh on Axis Bank and IDBI Bank, respectively, for non-compliance of certain directions issued by RBI.
• The private sector lender violated certain provisions on loans and advances, Know Your Customer (KYC) guidelines and ‘levy of penal charges non-maintenance of minimum balances in savings bank accounts.
• IDBI Bank has been penalised for non-compliance of directions on ‘frauds – classification and reporting by commercial banks and select financial institutions’ & also fined for violating norms on ‘strengthening the controls of payment ecosystem between sponsor banks and corporate customers like SCBs/UCBs’ and ‘cyber security framework.
• The penalties are based on deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by them with their respective customers.

About RBI :

• Founded: 1 April 1935
• Headquarters: Mumbai, Maharashtra, India
• Governor: Shaktikanta Das
• Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao,Michael Patra and T. Rabi Shankar.

Two separate SEBI panels to review ownership norms of Sponsor & Trustees

• The Securities and Exchange Board of India (Sebi) has set up two separate expert groups to examine the roles, eligibility criteria and functions of sponsors and trustees at asset management companies (AMCs)
• A sponsor is like a promoter who brings in the capital for setting up an AMC, while a trustee plays a supervisory role and is tasked with protecting investors interest.
• The working group on sponsors will be chaired by Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC.

Terms of reference for the working group on sponsors :

• To recommend mechanisms for addressing conflict of interest that may arise if pooled investment vehicles/ private equity act as sponsor
• To examine the need for a sponsor to dilute its stake in an asset management company from the existing requirement of holding at least 40 percent of the net worth and the alternative pathways that may be adopted by the sponsors in this regard.
• Meanwhile, the working group on MF trustees will be chaired by Manoj Vaish, Independent Trustee, Mirae MF.

Terms of reference for working group on MF trustees :

• To determine whether certain obligations of operational nature can be delegated to AMC
• To identify those responsibilities for which trustees can avail the services of professional assurance agencies
• To recommend required financial resources to be made available to trustees to independently discharge their obligations.

About SEBI :

• Headquarters : Mumbai, Maharashtra, India
• Chairman : Madhabi Puri Buch
• It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

India’s trade deficit widens 88% to $192.41 billion in FY22

• India’s trade deficit rose 87.5 per cent to USD 192.41 billion in 2021-22 as against USD 102.63 billion in the 2020-21.
• The total exports during last fiscal year increased to a record high of USD 417.81 billion, imports soared to USD 610.22 billion, leaving a trade gap of USD 192.41 billion.
• India’s merchandise import in April 2021-March 2022 was USD 610.22 billion, an increase of 54.71 per cent over USD 394.44 billion in April 2020-March 2021 and an increase of 28.55 per cent over USD 474.71 billion in April 2019-March 2020.
• The trade deficit in March 2022 was USD 18.69 billion, while it was USD 192.41 billion during the entire 2021-22.
• For the first time, India’s monthly merchandise exports exceeded USD 40 billion, reaching USD 40.38 billion in March 2022, an increase of 14.53 per cent over USD 35.26 billion.
• It was up by 87.89 per cent over USD 21.49 billion in March 2020.
• The country’s merchandise import last month stood at USD 59.07 billion, an increase of 20.79 per cent over USD 48.90 billion in the year-ago period.
• It was up 87.68 per cent over USD 31.47 billion in March 2020.
• In March 2022, the value of non-petroleum exports stood at USD 33 billion, registering a growth of 4.28 per cent over USD 31.65 billion & Non-petroleum exports grew by 74 per cent from USD 18.97 billion in March 2020.
• Non-petroleum imports stood at USD 40.66 billion during March 2022, showing a rise of 5.26 per cent over USD 38.63 billion in the year-ago month & it was up by 89.79 per cent from USD 21.42 billion in March 2020

About trade deficit :

• A trade deficit occurs when the value of a country’s imports exceeds the value of its exports.
• In simple terms, a trade deficit means a country is buying more goods and services than it is selling.

CURRENT AFFAIRS : AWARDS & HONORS

Picture Of Dresses On Crosses Wins 2022 World Press Photo of the Year

• A photograph Kamloops Residential School has won the 2022 World Press Photo of the Year award was captured by Canadian photojournalist Amber Jacken.
• It is a haunting image of red dresses hung on crosses along a roadside, with a rainbow in the background, commemorating children who died of maltreatment, neglect and disease at the Kamloops Indian Residential School in British Columbia in 2021.
• Australian documentary lensman Matthew Abbott took the first prize in the Story of the Year category with a series of blazing images, showing how the native Nawarddeken people of the remote Arnhem Land used fire as a land-management tool to combat climate change.
• In other categories, Brazilian veteran photographer Lalo de Almeida won the Long Term Project Award for his pictures of the impact of deforestation of the Amazon on Indigenous communities.
• In the Open Format Award, Isadora Romero won for her video exploring her family history in Columbia.
• Yasin, together with Mukhtar Khan and Channi Anand, won the 2020 Pulitzer Prize in feature photography for their coverage of the conflict in Indian-controlled Kashmir.

About Amber Bracken :

• Amber Bracken is a Canadian photojournalist known for her reporting on issues affecting Indigenous peoples in North America.
• She won a World Press Photo first prize in 2017 for Contemporary Issues and in 2022 won the overall World Press Photo of the Year.
• Some of her other works have appeared in The New York Times, The Globe and Mail, Maclean’s, ESPN and National Geographic.
• Amber Jacken is the fifth female World Press Photo of the Year winner.

About World Press Photo of the Year :

• The World Press Photo of the Year award is part of the World Press Photo Awards, organized by the Dutch foundation World Press Photo.
• It Considered one of the most prestigious and coveted awards in photojournalism

CURRENT AFFAIRS : MOU & AGREEMENTS

IFSCA signs MoU with GVFL Limited for Strengthening the FinTech Ecosystem in GIFT IFSC

• The International Financial Services Centres Authority (IFSCA) and GVFL Limited signed a Memorandum of Understanding (MoU) at IFSCA’s office at Gift City for cooperation and collaboration to support and facilitate the FinTech ecosystem in GIFT IFSC.

About the MoU :

• The MoU focuses on collaboration between the two organizations for exchange of information and undertaking diverse initiatives as regards FinTech industry including holding seminars, webinars, conferences, etc., for the growth of FinTech in the GIFT IFSC.
• It provides scope for guidance, mentorship and other spectrum of support to the FinTechs working in the accelerator(s)/Cohorts operating in GIFT IFSC and the entities in the regulatory sandbox of IFSCA.
• It also provides an impetus for fostering and amplifying the investment ecosystem in GIFT IFSC.

About IFSCA :

• Headquarters : Gandhinagar, Gujarat
• Chairperson : Injeti Srinivas
• The International Financial Services Centres Authority (IFSCA) is a unified regulator responsible for development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre(s) (IFSC) established in India.
• It endeavors to encourage the promotion of financial technologies (‘FinTech’) initiatives in financial products and financial services across the spectrum of banking, insurance, securities, and fund management etc. in IFSC & give boost to the establishment of a world class FinTech Hub at GIFT IFSC comparable with other International Financial Centers (IFCs) around the globe.

About GVFL Limited :

• Headquarters : Ahmedabad, Gujarat
• President : Mihir Joshi
• GVFL Limited is a pioneer of Venture Capital in India.
• It was promoted by the World Bank and Government of Gujarat in 1990
• Purpose : To support the venture capital ecosystem in multiple sectors including the FinTech sector by funding and encouraging entrepreneurs with innovative Ideas.

CURRENT AFFAIRS : DEFENCE NEWS

DRDO successfully flight-tests Solid Fuel Ducted Ramjet (SFDR) technology off Odisha coast

• The Defence Research and Development Organisation (DRDO) successfully flight tested the Solid Fuel Ducted Ramjet (SFDR) booster at the Integrated Test Range at Chandipur off the coast of Odisha.
• It has been developed by Defence Research and Development Laboratory, Hyderabad in collaboration with other DRDO laboratories such as Research Centre Imarat, Hyderabad and High Energy Materials Research Laboratory, Pune.
• It has a high projected range of 350 km.
• The SFDR-based propulsion enables the missile to intercept aerial threats at very long range at supersonic speeds.
• The flight test successfully demonstrated the reliable functioning of all critical components involved in the complex missile system and further met all the mission objectives as ascertained.
• The performance of the system has been confirmed from the data captured by a number of range instruments like Telemetry, Radar and Electro Optical Tracking Systems deployed by

About DRDO :

• Formed : 1958
• Headquarters: New Delhi, Delhi, India
• Chairman : Dr G. Satheesh Reddy

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China successfully launches new satellite Gaofen-3 03 for Earth observation

• On April 07, 2022, China launched a new Earth observation satellite Gaofen-3 03 from the Jiuquan Satellite Launch Center in northwest China by a Long March-4C rocket.
• The launch marks the 414th mission for the Long March series carrier rockets.
• The satellite will be networked with the orbiting Gaofen-3 and Gaofen-3 02 satellites to form a land-sea radar satellite constellation and capture reliable, stable synthetic aperture radar (SAR) images.
• Earth Observation (EO) satellites produce a large number of SAR images every day.
• SAR images have attracted much attention due to their all-weather operation, high spatial resolution, and recent improvements in processing these images.
• It will serve the fields of marine disaster prevention and mitigation, dynamic marine environment monitoring, marine research, environmental protection, water conservancy, agriculture and meteorology, while helping to safeguard maritime rights and interests.

About China :

• Capital: Beijing
• President: Xi Jinping
• Currency: Renminbi

CURRENT AFFAIRS: SPORTS NEWS

Riya Jadon wins 11th DGC Ladies Open Amateur Golf Championship:

• Thirteen-year-old Riya Jadon won the DGC Ladies Open Amateur Golf Championship, following a close fight with older sister Lavanya Jadon.
• Riya, who carded 78, 80 and 74, also won the junior girls trophy.
• Over a hundred women golfers took part in this year’s tournament, which resumed at the Delhi Golf Club after a two-year hiatus.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Not Just a Nightwatchman: My Innings with BCCI’, book by Former CAG Vinod Rai:

• Vinod Rai, the CAG and the head of the Supreme Court-appointed Committee of Administrators (CoA) in 2017, has written a book titled “Not Just A Nightwatchman: My Inning with BCCI.”
• Vinod Rai, the former Comptroller and Auditor General (CAG) and chief of the Supreme Court-appointed Committee of Administrators (CoA) in 2017, has written a book titled “Not Just a Nightwatchman: My Innings with BCCI,” in which he chronicles his 33-month tenure at the BCCI.
• In the book, Rai – whose stint of overseeing the administration of one of the richest sports bodies in the world ended in September 2019 – has made some major revelations.

Geetanjali Shree’s ‘Tomb of Sand’ first Hindi fiction on Booker Shortlist:

• Hindi novelist and short story writer Geetanjali Shree’s novel ‘Tomb of Sand’ is among six books from all over the world shortlisted for the International Booker Prize.
• This makes it the first Hindi language work of fiction to make it to the list.
• ‘Tomb of Sand’ follows an 80-year-old woman who travels to Pakistan after the death of her husband, “confronting the unresolved trauma of her teenage experiences of Partition and re-evaluating what it means to be a mother, daughter, a woman, a feminist
• Shree’s book, translated into English by Daisy Rockwell and described by the judges as a “loud and irresistible novel”, will compete with the other titles for the prestigious 50,000 pounds literary prize, which is split evenly between the author and translator.

Daily CA on April 10 :

• On April 9th, the Central Reserve Police Force (CRPF) celebrates Valour Day (Shaurya Diwas) to tribute to the Force’s courteous personnel.
• The Government of India’s Ministry of Youth Affairs and Sports has given USD 72,124 to the UNESCO Fund for the Elimination of Doping in Sport 2022.
• The Union Cabinet chaired by Prime Minister Narendra Modi has approved the continuation of Atal Innovation Mission (AIM), till March 2023.
• April 9^th is the 7th anniversary of Pradhan Mantri Mudra Yojana, PMMY.
• The National Commission for Women launched an Anti-Human Trafficking Cell to improve effectiveness in tackling cases of human trafficking, raising awareness among women and girls, capacity building and training of Anti Trafficking Units and increasing responsiveness of law enforcement agencies.
• India’s first case of the XE variant of the coronavirus disease (Covid-19) was reported from Mumbai
• Maharashtra State Power Generation Company (MAHAGENCO) will form an equal joint venture with state-run NTPC Ltd to set up an ultra mega solar park in Maharashtra with 2500 MW generation capacity.
• On the basis of an assessment of the current and evolving macroeconomic situation, the Reserve Bank of India conducted its first Monetary Policy Committee (MPC) meeting for 2022-23 between April 6- 8, 2022.
• The Reserve Bank of India (RBI) has imposed monetary penalties of Rs 93 lakh and Rs 90 lakh on Axis Bank and IDBI Bank, respectively, for non-compliance of certain directions issued by RBI.
• The Securities and Exchange Board of India (Sebi) has set up two separate expert groups to examine the roles, eligibility criteria and functions of sponsors and trustees at asset management companies (AMCs)
• India’s trade deficit rose 87.5 per cent to USD 192.41 billion in 2021-22 as against USD 102.63 billion in the 2020-21.
• A photograph Kamloops Residential School has won the 2022 World Press Photo of the Year award was captured by Canadian photojournalist Amber Jacken.
• The International Financial Services Centres Authority (IFSCA) and GVFL Limited signed a Memorandum of Understanding (MoU) at IFSCA’s office at Gift City for cooperation and collaboration to support and facilitate the FinTech ecosystem in GIFT IFSC.
• The Defence Research and Development Organisation (DRDO) successfully flight tested the Solid Fuel Ducted Ramjet (SFDR) booster at the Integrated Test Range at Chandipur off the coast of Odisha.
• On April 07, 2022, China launched a new Earth observation satellite Gaofen-3 03 from the Jiuquan Satellite Launch Center in northwest China by a Long March-4C rocket.
• Thirteen-year-old Riya Jadon won the DGC Ladies Open Amateur Golf Championship, following a close fight with older sister Lavanya Jadon.
• Vinod Rai, the CAG and the head of the Supreme Court-appointed Committee of Administrators (CoA) in 2017, has written a book titled “Not Just A Nightwatchman: My Inning with BCCI.”
• Hindi novelist and short story writer Geetanjali Shree’s novel ‘Tomb of Sand’ is among six books from all over the world shortlisted for the International Booker Prize.