Current Affairs July 22nd 2022| Current Affairs News

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CURRENT AFFAIRS: NATIONAL NEWS

PM Shri Narendra Modi unveils ‘SPRINT Challenges’ to boost usage of Indigenous Technology:

• During the Naval Innovation and Indigenisation Organisation (NIIO) lecture “Swavlamban” in New Delhi, Prime Minister Shri Narendra Modi presented the “SPRINT Challenges,” which are meant to encourage the use of indigenous technologies in the Indian Navy.
• Supporting Pole-Vaulting in R&D through Innovations for Defence Excellence (iDEX), NIIO, and Technology Development Acceleration Cell (TDAC) is the name of the collaborative initiative.
• As part of “Azadi ka Amrit Mahotsav” and to accomplish “Aatmanirbharta” in the defense sector, NIIO and the Defence Innovation Organisation (DIO) want to introduce at least 75 new indigenous technology and products to the Indian Navy.
• The Naval Innovation and Indigenization Organization (NIIO) and the Society of Indian Defense Manufacturers (SIDM) jointly sponsored the event.

About the seminar

• The two-day conference, which is scheduled to take place on July 18–19, 2022, intends to work with Indian academia and business to achieve self-reliance in the defense sector.
• It will give leaders from business, academia, the government, and other sectors a place to gather, share ideas, and develop suggestions for the defense sector.
• There will be sessions on innovation, indigenization, armament, and aviation.
• According to the government’s SAGAR vision, the Seminar’s second day will see outreach to the Indian Ocean Region.

Mobile Electric Charging App released by MSME Minister Mr. Narayan Rane:

• Repos Pay, a platform for mobile electric charging, and Phy-gital, a platform for fintech, were unveiled by Union Minister of Micro, Small, and Medium Enterprises (MSME) Mr. Narayan Rane at the Fueling India 2022 event in Mumbai.
• Users may order mobile EV charging vehicles on the Repos Pay platform and use them to power their automobiles.
• Technology will be used by Phy-gital, a Fintech platform, to let customers use credit to fund purchases (Buy Now Pay Later).
• The energy finance platform will provide fuel-on-credit solutions for large users.

Key Points:

• Although the bulk of start-ups in the country is in the IT and digital industries, P. Udaykumar, chairman of the National Small Industries Corporation, commended the budding entrepreneurs who are making waves in the energy sector.
• Shri Udaykumar stated that the MSME ministry and NSIC’s support of the country’s micro, small, and medium-sized firms are aimed at creating a very advantageous MSME environment.
• The entire globe is presently concentrating its attention on India.
• The country’s MSME sector persisted even throughout COVID.
• Shri Udaykumar went on to say that the performance of the industry had reached pre-COVID levels.
• He also talked about the government’s and the ministry’s initiatives to support MSMEs.

PM Shri Narendra Modi inaugurates 296 km-long Bundelkhand Expressway in UP:

• Prime Minister Shri Narendra Modi has inaugurated the 296-km-long Bundelkhand Expressway, which passes through seven districts of Uttar Pradesh and has been constructed at a cost of around Rs 14,850 crore.
• Uttar Pradesh Chief Minister Yogi Adityanath welcomed Modi by offering him a local ‘Bundeli’ stole at the inauguration ceremony at Kaitheri village in Orai tehsil of Jalaun district.

Key Points:

• It extends from NH-35 at Gonda village near Bharatkoop in Chitrakoot district to near Kudrail village in Etawah district, where it merges with the Agra-Lucknow Expressway.
• The four-lane expressway, which can be later expanded into six lanes, passes through seven districts — Chitrakoot, Banda, Mahoba, Hamirpur, Jalaun, Auraiya, and Etawah.
• Besides improving connectivity in the region, the government expects the Bundelkhand Expressway to give a major boost to economic development and create thousands of jobs for the local people.

CURRENT AFFAIRS: STATE NEWS

Himachal Pradesh becomes 1st state in India to connect all registered commercial vehicles equipped with VLTD with ERSS

• Himachal Pradesh has become the first state in India to connect all registered commercial vehicles equipped with Vehicle Location Tracking Device (VLTD) with Emergency Response Support System (ERSS).
• Chief Minister Shri Jai Ram Thakur formally inaugurated the system at a program organized at Peterhof, in Shimla, Himachal Pradesh.
• He also introduced the facility of panic buttons for the safety of women and children in public vehicles.

Key Highlights :

• More than  9,423 vehicles have been registered and linked with ERSS.
• Now it will be monitored by both the police and the transport department.
• All the registered commercial vehicles equipped with VLRD will be connected with ERSS.
• The Vehicle Location Tracking Device with Emergency Panic Button System and Command Control Center has been connected with Emergency Response Support System 112.
• When the panic button is pressed, a signal would be received through satellite to 112 and the person in distress would be connected and alert the police.

Importance of the Center :

• The establishment of this monitoring Center would be easy to detect the theft of vehicles and vehicle accidents for the safety of women and children in the State.
• This is an innovative initiative, which would make the state roads safer and more secure.

About HP :

• Governor : Rajendra Arlekar
• Chief Minister: Jai Ram Thakur
• Capital: Shimla (Summer), Dharamshala (Winter)

Assam Government Launches Scheme For Welfare Of Indigenous Weavers – Swanirbhar Naari

• Assam Chief Minister Shri Himanta Biswa Sarma launched ‘Swanirbhar Naari’, an initiative to empower the indigenous weavers of the state and provide financial support to their families.

About ‘Swanirbhar Naari’ :

• Under the scheme, the government of Assam will procure handloom items directly from the indigenous weavers via a web portal without the involvement of any middlemen.
• An initiative of the textiles department, 31 hand-woven items are covered under the new scheme.
• After procurement, the products will be sold through government outlets in the state as well as outside.
• The portal is expected to bridge the gap between the weavers and the buyers.

About Assam :

• Governor : Jagdish Mukh
• CM : Himanta Biswa Sarma
• Capital: Dispur
• National Parks: Kaziranga National Park, Dibru – Saikhowa National Park, Rajiv Gandhi Orang National Park, Manas National Park, Nameri National Park
• Wildlife Sanctuaries: Garampani Wildlife Sanctuary, Bornadi Wildlife Sanctuary, Chakrasila Wildlife Sanctuary, Laokhowa Wildlife Sanctuary

Arunachal Pradesh & Assam sign pact to resolve the border dispute

• Arunachal Pradesh Chief Minister Shri Pema Khandu and Assam Chief Minister Shri Himanta Biswa Sarma inked a pact to end the decades-old border dispute between the two states.
• Chief ministers of the two North-eastern neighbors met at Namsai in Arunachal Pradesh and signed the agreement.

Key Highlights :

• Under the agreement, they agreed in principle on restricting the number of contested villages to 86 instead of 123 & resolving the rest by September 15, 2022.
• The two states share an 804-km long boundary.
• The allegations of residents of one state encroaching land on the other have led to disputes and violence.
• A suit has been pending in the Supreme Court since 1989 on the issue.
• As per the declaration, 28 of the 123 disputed villages “which are within the constitutional boundary of Arunachal Pradesh” shall remain with the state.
• Conversely, following the withdrawal of claims by Arunachal Pradesh, three villages will remain with Assam.
• Finally, 6 more villages, that “couldn’t be located on the Assam side”, will remain with Arunachal Pradesh if they are found to be present on the state’s side.
• Both states decided to constitute 12 “regional committees”, each covering 12 districts of Arunachal and the counterpart districts of Assam for joint verification of 123 villages.
• The committees were tasked with submitting recommendations to state governments keeping in view “historical perspective, administrative convenience, contiguity and people’s will” to delineate the interstate boundary.

Additional Info :

• After Arunachal Pradesh achieved statehood in 1987, a tripartite committee was appointed which recommended that certain territories be transferred from Assam to Arunachal.
• Assam contested this and the matter is in the Supreme Court.

About Arunachal Pradesh :

• Governor: B. D. Mishra
• Chief Minister : Pema Khandu
• Capital: Itanagar

CURRENT AFFAIRS: BANKING & FINANCE

RBI panel proposes a 4-tier regulatory framework for UCBs

• The Reserve Bank of India (RBI) has recommended a four-tier regulatory framework for urban cooperative banks (UCBs) based on the size of deposits and their area of operations.

Aim :

• To strengthen the financial soundness of the existing urban cooperative banks (UCBs).
• The differentiated regulatory approach was mainly recommended for key parameters such as net worth, capital to risk-weighted assets ratio (CRAR), branch expansion, and exposure limits.

About 4-tier regulatory framework :

Tier – 1

• All unit UCBs and salary earners’ UCBs, irrespective of deposit size, and all other UCBs with deposits of up to ₹100 crores.

Tier – II 

• Urban cooperative banks with deposits of more than ₹100 crores and up to ₹1,000 crores.

Tier – III 

• Urban cooperative banks with deposits of over ₹1,000 crores and up to ₹10,000 crore 

Tier -IV

• UCBs with deposits of over ₹10,000 crores.
• Specifically, the regulator has stipulated a minimum net worth of ₹2 crores for tier- I UCBs operating in a single district and ₹5 crores for all other UCBs of all tiers.

Key Highlights :

• RBI retained the minimum capital adequacy ratio requirement for tier one banks at the present level of 9%.
• For urban cooperative banks of all other tiers, while retaining the current capital adequacy framework, RBI has decided to revise the minimum capital adequacy ratio to 12% to strengthen their capital structure.
• Most UCBs, 1,274 of the total 1,534, have a capital adequacy ratio of over 12% as on 31 March 2021.
• UCBs that do not meet the revised CRAR will be provided with a glide path of three years. These banks will have to achieve a CRAR of 10 percent by FY24, 11 percent by FY25, and 12 percent by FY26.

Standard Chartered Bank & EaseMyTrip launch a co-branded credit card

• Standard Chartered Bank launched a co-branded credit card EaseMyTrip Standard Chartered Credit Card with the online travel tech platform EaseMyTrip.

Features of the EaseMyTrip Standard Chartered credit card:

• Flat 20% instant discount on Domestic & International hotel bookings with EaseMyTrip of up to INR 5,000 and INR 10,000 respectively with no minimum booking amount
• Flat 10% instant discount on Domestic & International flight bookings with EaseMyTrip of up to INR 1000 and INR 5000 respectively with no minimum booking amount
• Flat INR 125 off on Domestic bus bookings on EaseMyTrip with INR 500 as the minimum booking amount
• 10 reward points for every INR 100 spent on select merchant categories (Standalone Hotel and Airline websites/apps and outlets) outside EaseMyTrip
• Reward points earned can be redeemed on the rewards catalog of Standard Chartered Bank, across multiple brands including EaseMyTrip.
• The cardmembers will have access to instant discount benefits on flights and hotels throughout the year on the EaseMyTrip website/mobile application.
• Also, the cardmembers will get one domestic lounge access per calendar quarter and two international lounge accesses per year.
• The cardmembers can also enjoy periodic promotional offers and discounts on the EaseMyTrip website/ mobile application.

About Standard Chartered Bank :

• Headquarters: London, England, United Kingdom
• Group Chief Executive: Bill Winters
• Group Chairman : José Viñals

About EaseMyTrip :

• Founded: 2008
• Headquarters: New Delhi, Delhi, India
• EaseMyTrip is the second largest online travel tech platform in India

Bajaj Allianz Life Insurance partners with DBS Bank India to offer life insurance solutions

• Bajaj Allianz Life Insurance, one of India’s leading private life insurers, and DBS Bank India, the wholly owned subsidiary of DBS Bank Ltd., Singapore, have announced a strategic partnership to offer a wide array of life insurance solutions to the DBS bank’s customers.

Signatories :

• Managing Director (MD) and Chief Executive Officer (CEO) of Bajaj Allianz Life Insurance Tarun Chugh and MD and Head, Consumer Banking Group, DBS Bank India Mr. Prashant Joshi, signed the agreement in Mumbai, Maharashtra.

Aim :

• To empower the customers to Live More and Bank Less by investing in life insurance products.
• Under the partnership, new and existing customers across the 550+ branches of DBS Bank can now choose from Bajaj Allianz Life’s retail products including term, savings, retirement, and investment products.

About Bajaj Allianz Life Insurance :

• Founded: 2001
• Headquarters: Pune, Maharashtra
• CEO: Tarun Chugh
• It is a partnership between Bajaj Finserv Limited, one of India’s most diversified non-banking financial institutions, and Allianz SE, one of the world’s leading asset managers and insurers.

About DBS Bank India :

• Headquarters: Mumbai, Maharashtra
• MD & CEO: Surojit Shome

RBI restricts three cooperative banks from conducting banking activity due to poor liquidity position

• The Reserve Bank of India (RBI) has announced severe restrictions on three cooperative banks from conducting banking activity due to poor liquidity positions.

Names of 3 cooperative banks :

1. Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra
2. Raigad Sahakari Bank, Mumbai, Maharashtra
3. Sri Mallikarjuna Pattana Sahakari Bank, Maski, Karnataka

• These directions will remain in force for six months and are subject to review.

Key Highlights :

• According to the RBI notification, all these 3 banks will not be able to grant or renew any loans and advances, make any investment, borrow funds or accept fresh deposits, disburse any payment, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI.
• The depositors of Nashik Zilla Girna Sahakari Bank and Sri Mallikarjuna Pattana Sahakari Bank will not be allowed to withdraw any money from their savings, current, or any other account.
• While 87% of all the depositors of Nashik Zilla Girna Sahakari Bank are fully covered by the DICGC insurance scheme, close to 99.5 % of depositors of Sri Mallikarjuna Pattana Sahakari Bank are covered by the scheme.
• However, RBI has allowed the depositors of Raigad Sahakari Bank to withdraw a sum not exceeding 15,000 out of the total balance across all savings or current accounts or any other account.

About RBI :

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

CURRENT AFFAIRS:  BUSINESS NEWS

L&T Tech: First company to directly obtain and implement 5G spectrum:

• L&T Technology Services is the first IT firm to officially express interest in the government’s direct allocation of spectrum for exclusive 5G networks.
• The company will purchase spectrum to put up a 5G private network and create use cases for the technology, according to CEO Amit Chadha.
• Additionally, the parent business of the engineering and research and development services firm, Larsen & Toubro, will deploy 5G technologies internationally.
• The Department of Telecommunications will conduct demand analyses by the rules for private 5G networks, and then request recommendations from the Telecom Regulatory Authority of India before allocating spectrum.
• When assigning spectrum to firms for connecting their facilities, the agency would simply charge a minor processing cost of Rs 50,000; no entrance or license fees will be charged.

Key Points:

• To build private 5G networks, India has released legislation that let companies outside the telecom sector buy spectrum directly from the telecom department.
• The business has teamed with network software developer Mavenir to deliver 5G automation services and speedy integration of open radio access network technologies that they will launch together.
• The company praised the government’s decision to allow 5G usage by private companies but urged that the regulations be altered to allow the implementation of the same 5G network in more than one area.
• Additionally, it is desired that the barriers to offering application-as-a-service or lab-as-a-service choices for the 5G spectrum that businesses obtain online be removed.

Instagram’s new payments feature lets users buy products via direct messages:

• Mark Zuckerberg, CEO of Meta, disclosed that the business would provide a new “payments in conversation” function on
• With this new function, consumers can make purchases from local companies and follow orders via Instagram direct messaging.
• One billion individuals message companies on Facebook, Instagram, and WhatsApp each week, claims Meta.
• Users may start by sending a direct message to a qualifying small company they’re interested in purchasing from to use the new functionality.
• They may then pay, track their order, and ask the company any more questions in the same chat thread.

Key Points:

• The payments in messages tool would reportedly be accessible to eligible business accounts on Instagram.
• Additionally, the platform allows for in-app communication between buyers and sellers.
• Users will be prompted to enter and confirm their shipping address and payment details.
• According to the startup, users will be able to make purchases using Meta Pay.
• In 2019, Meta first introduced the function called Facebook Pay.

About Instagram

• Launched: 6 October 2010
• Founder Kevin Systrom.

India Attracts USD 343.64 Million FDI Equity Inflow In R&D Sector in 2021:

• India attracted USD 343.64 million FDI equity inflow in the R&D sector during C.Y. 2021 (Calendar Year) which is 516% higher as compared to previous C.Y. 2020 (USD 55.77 million).
• FDI is permitted under a 100% automatic route in the R&D sector subject to applicable laws/regulations, security, and other conditionalities.
• Karnataka is the top FDI Equity recipient state in R&D during C.Y. 2021 followed by Telangana and Haryana.
• Singapore is the top investing country in R&D during C.Y. 2021 with a 40% share of total FDI Equity in R&D followed by Germany (35%) and the U.S.A (11%).

CURRENT AFFAIRS: RANKING AND INDEXES

Henley Passport Index 2022: India ranks 87^th

• The list of the world’s most potent passports for 2022 was been published by the Henley Passport Index.
• Japan, Singapore, and South Korea, three Asian countries, took the top three spots on the list, reversing the pre-pandemic ranks that were dominated by European countries.
• According to the most recent Henley Passport Index from immigration consultant Henley & Partners, India’s passport would be the 87th most valuable in the world in 2022.

Key Points:

• According to the Henley Index, Pakistan, a neighbor of India, has the fourth-worst passport in the whole world.
• While Singapore and South Korea both allow entrance to 192 countries, the Japanese passport allows hassle-free travel to 193 of them.
• India is rated 87th out of all Asian nations, ahead of Tajikistan, and Mauritius, and has access to 67 nations through its passport.
• China shares the 69th position with Bolivia, and both countries’ passports provide travel to 80 different places.
• Bangladesh is five positions ahead of Pakistan in the rankings, taking up position 104.
• After Afghanistan, Iraq, and Syria, Pakistan has the fourth-worst passport in the whole world.

Top 10 countries

1. Japan
2. Singapore
3. South Korea
4. Germany
5. Spain
6. Finland
7. Italy
8. Luxemburg
9. Austria
10. Denmark

About the Henley Passport Index:

• According to the number of places its holders can go to without a previous visa, Henley Passport Index has rated all 199 passports in the world.
• The International Air Transport Association, which manages the biggest collection of travel information in the world, provided the data for the rating, which was then further improved by a substantial and continuous study by the Henley & Partners Research Department.

Tamil Nadu tops in Smart City Fund utilization:

• According to the government’s flagship Smart City Mission, Tamil Nadu leads the list of states in terms of how well the money is being used.
• Uttar Pradesh is in second place with the use of Rs 2699 cr out of the Central share allocation of Rs 3142 cr, while Tamil Nadu has spent more than Rs 3932 cr of the Rs 4333 cr provided by the Centre.
• As of 8 July 2022, the Center has released Rs 30,751.41 crore for 100 Smart Cities; of that amount, Rs 27,610.34 crore (90 percent) had been used.

About the Smart Cities Mission (SCM):

• The Smart Cities Mission (SCM) was introduced by the central government on June 25, 2015.
• From January 2016 to June 2018, 100 Smart Cities were chosen following four rounds of competition.
• According to SCM guidelines, the Central government would provide up to Rs 48,000 crore over five years, or an average of Rs 100 crore per city every year, in financial support.
• The state government or urban local authority should give an equal amount on a matching basis.

Key Points:

• According to government statistics, states including Rajasthan, Gujarat, Madhya Pradesh, Andhra Pradesh, and Karnataka have also invested significant sums of money in initiatives related to the Smart City Mission.
• While Maharashtra utilized more than Rs 2453 crore out of a total release of Rs 2454 crore by the Centre, Karnataka registered usage of Rs 2420 crore from the Central grant of Rs 2618 crore.
• As of 8 July 2022, these Smart Cities have awarded contracts for 7,822 projects totaling Rs. 1,90,660 crore; issued work orders for 7,649 projects totaling Rs. 1,80,996 crore; and finished 4,085 projects totaling Rs. 66,912 crores.
• Up to June 2023, SCM will be in effect, and all Smart Cities are required to finish their initiatives by that date.

Forbes Real-Time Billionaires List: Gautam Adani surpasses Bill Gates

• According to the Forbes Real-Time Billionaires List, Gautam Adani, the richest man in India, has passed Microsoft co-founder Bill Gates to move up to the fourth-richest position in the world.
• This increase coincided with Gates’ announcement that he would be giving the Bill & Melinda Gates Foundation $20 billion of his money.

The top three richest businessmen:

1. Tesla CEO Elon Musk: $234.4 billion
2. Bernard Arnault: $154.9 billion,
3. Amazon chief Jeff Bezos: $143.9 billion

Key Points:

• With a net worth of $230 billion, Elon Musk tops the list of richest people, followed by Jeff Bezos of Amazon and Bernard Arnault of Louis Vuitton.
• On the Forbes list, Mukesh Ambani (net worth: $88 billion) came in at number ten.
• Due to the increase in his wealth, which gave him the world’s highest wealth gainer this year, Adani surpassed fellow countryman Ambani in February to claim the top place in Asia.

CURRENT AFFAIRS: MOUS AND AGREEMENT

NHPC signs MoU for development of “Pilot Green Hydrogen Technologies”:

• NHPC signed two MoUs for the development of “Pilot Green Hydrogen Technologies” in line with the country’s resolve to reduce the carbon footprint in the Power Sector in Leh and Kargil districts of the Union Territory of Ladakh.
• The MOUs were signed in the august presence of Shri R.K. Mathur, Hon’ble Lieutenant Governor, Union Territory of Ladakh.
• As per MOU signed for Leh district, NHPC shall consider the development of a Pilot Green Hydrogen fuel cell-based Microgrid including Hydrogen production to meet the power requirement of the NHPC guest house at Nimmo Bazgo Power Station (Leh) within NHPC premises.
• According to the MOU signed for the Kargil district, the hydrogen generated in Kargil will be used in fuel cells for mobility which will be capable to run two buses for up to 8 hrs in the local area of Kargil.
• NHPC shall upscale hydrogen production on a commercial scale to supply the hydrogen need of the Ladakh region in different sectors like mobility, transportation, heating, and Micro-grid & subsequent MoU shall be signed separately.
• These two Pilot projects will create a roadmap for future development of Green Hydrogen & subsequent reduction of carbon emission in the transportation/heating sector and will also attract long-term investment in the Hydrogen economy creating different revenue streams & job opportunities for the youth of UT of Ladakh.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Former Army training command chief Mr. Lt General Raj Shukla appointed as a member of UPSC 

• Retired General Officer of the Indian Army Mr. Lieutenant General Raj Shukla was appointed as a member of the Union Public Service Commission (UPSC).
• With his appointment, the commission now has a chairperson and six members against its sanctioned strength of 10.

About Mr. Lt General Raj Shukla :

• Lt General Raj Shukla is an alumnus of Uttar Pradesh Sainik School Lucknow, National Defence Academy Khadakwasla Pune, and Indian Military Academy.
• He was commissioned into the Regiment of Artillery in December 1982.
• He served as the General Officer Commanding-in-Chief of the Army Training Command (GOC-in-C ARTRAC).
• He commanded an Infantry Brigade in counter-insurgency operations, the Baramulla Division along the Line of Control (LOC) in the Kashmir Valley, and a Pivot Corps along the western borders.
• He has also been Commandant of the Indian Army’s prestigious training establishment and thinks tank – the Army War College.
• He has authored close to 70 articles/publications and lectured/participated in more than 180 talks/seminars in India and abroad.

Awards & Honors :

• In recognition of his service of the most exceptional order, Shukla was awarded the Param Vishisht Seva Medal on Republic Day 2021.

About UPSC :

• Established: 1 October 1926
• Headquarters: New Delhi, Delhi, India
• Chairman : Dr. Manoj Soni
• The commission conducts the civil services exam to recruit the country’s civil servants.
• The UPSC recommends candidates to the government for appointment to the Indian Administrative Service (IAS), Indian Foreign Service (IFS), Indian Police Service (IPS), and the Central Services- Group A and Group B.

RattanIndia Power appoints Mr. Brijesh Gupta as managing director

• RattanIndia Power Ltd has appointed Brijesh Gupta as a Managing Director.

About Mr. Brijesh Gupta :

• Brijesh Gupta is an alumnus of Visvesvaraya Regional College of Engineering, Nagpur.
• He has over three decades of experience in the industrial sector having worked in top organizations in the Renewable, Steel, Mining, and Commodities sector in India and abroad.
• He has held leadership positions in Adani Enterprises, Essar Group, Welspun, and Atha Group.
• He has global experience having worked across geographies in the USA, Middle East, Iran, and the Indian Subcontinent.

About RattanIndia Power Limited :

• Founded: 2007
• Headquarters: New Delhi, Delhi, India
• RattanIndia Power Ltd (RPL) is one of the largest private sector Power Generation companies/ Utility companies.
• RPL has commissioned 2 world-class large coal-based thermal power generation projects in Maharashtra with a total capacity of 2700 MW.
• The company counts marquee funds like Goldman Sachs and VardePartners, the USA as investors in the business.

UP government appoints Deloitte India as a consultant to make a $1 trillion economy

• The Uttar Pradesh cabinet appointed Deloitte Touche Tohmatsu India as a consultant to achieve the target of making the state a $1-trillion economy.
• The involvement in this decision was a high power committee headed by Chief Minister Shri Yogi Adityanath which later recommended the decision of appointment.
• To fulfill the Prime Minister’s resolve to make India a $5 trillion economy, the role of the most populous state of Uttar Pradesh is important.

Key Highlights :

• The consultant quoted a bid price of Rs 120 crore. 
• Others in the fray were Boston Consulting Group and Grant Thorton.
• According to the fresh request for proposal (RFP) document, the selected consultant will have to critically analyze the macro and micro-economic sectoral data around GSDP, trade, investment, expenditure, savings, workforce participation, inflation, import & export, etc to identify the strengths and weaknesses of UP’s economy.
• The tenders for the selection of consultants were invited on March 15, 2022, and the last date for receipt of tenders was fixed as May 24, 2022.

About Deloitte: 

• The firm entered India in 1998, and by then has increased its scope in Delhi, Bangalore, Mumbai, and Hyderabad.
• In January 2021, Punit Renjen who began his second term at the global helm of Deloitte in 2020 explained the firm’s macro view to expanding India’s positioning to wider attitudes in the global business environment.

About UP :

• Governor : Anandiben Patel
• Chief Minister: Yogi Adityanath
• Capital: Lucknow

CURRENT AFFAIRS: DEFENCE NEWS

Union Defence Minister Shri Rajnath Singh launches 75 Artificial Intelligence products/technologies during the first-ever ‘AI in Defence’ symposium & exhibition in New Delhi

• Union Defence Minister Shri Rajnath Singh launched 75 newly-developed Artificial Intelligence (AI) products/technologies during the first-ever ‘AI in Defence’ (AIDef) symposium and exhibition, organized by the Ministry of Defence in New Delhi, Delhi, India.
• The products launched as part of the ‘Azadi Ka Amrit Mahotsav’ celebrations fall under various domains.

About the various domains :

• These include AI Platform Automation; Autonomous/Unmanned/Robotics systems; Block Chain-based Automation; Command, Control, Communication, Computer & Intelligence, Surveillance & Reconnaissance; Cyber Security; Human Behavioural Analysis; Intelligent Monitoring Systems; Lethal Autonomous Weapon Systems; Logistics and Supply Chain Management, Operational Data Analytics; Manufacturing and Maintenance; Simulators/Test Equipment and speech/voice analysis using Natural Language Processing.
• Three AI products developed by the DPSUs have dual-use applications and good market potential, namely

1. AI-enabled Voice Transcription/Analysis software developed by Bharat Electronics Limited
2. Driver Fatigue Monitoring System developed by Bharat Earth Movers Limited
3. AI-enabled evaluation of Welding defects in X-rays of Non-destructive Testing developed by Garden Reach Shipbuilders & Engineers were screened during the event.

• The Raksha Mantri released the physical as well as e-version of the book comprising the details of these 75 products, showcasing the collective efforts put on by the Services, Defence Research & Development Organisation (DRDO), Defence Public Sector Undertakings (DPSUs), iDEX start-ups and the private industry in last four years in the field of AI.

Raksha Niryat Ratna awards 2020-21 :

• In consonance with the vision of MoD to achieve defense exports of Rs 35,000 crore by 2025 and provide a boost to the domestic industry, ‘Raksha Niryat Ratna’ awards were conferred on

1. Bharat Electronics Limited from the public sector
2. Indo-MIM from the private sector for achieving the highest defense exports in recent years.

• The top 3 students of the ‘GenNext AI’ Solutions Competition, which was organized to get bright innovative ideas on futuristic AI solutions, were also felicitated by the Raksha Mantri.
• 3-panel discussions were also organized to stimulate new ideas in the field of AI in Defence, with active participation from the Services, academia, students, research organizations, and industry.
• An exhibition was organized which provided a unique opportunity for innovators to display their capabilities, products, and state-of-the-art technologies.

About Ministry of Defence :

• Defence Minister: Rajnath Singh
• Minister of State: Ajay Bhatt
• Defence Secretary: Dr. Ajay Kumar

CURRENT AFFAIRS: OBITUARIES

Noted Scientist & ILS Director Dr. Ajay Parida Passes away

• Noted scientist and Director, Institute of Life Sciences (ILS), Bhubaneswar Dr. Ajay Parida has Passed away at the age of 58 in Guwahati, Assam

About Dr. Ajay Parida :

• Parida was born at Bhagabanpur village in Odisha’s Jajpur district.
• He has done a Ph.D. from Delhi University and post-doctoral research from University College of Wales, UK, University of Naples, Italy, and International Rice Research Institute, Philippines.
• He was an Indian biologist noted for his contributions in the fields of agriculture, plant molecular biology, and biotechnology.
• He has used advanced biotechnological tools for crop improvement for this he made contributions in identifying stress tolerant genes specifically for salt and drought stress.
• He served as the Executive Director of the MS Swaminathan Research Foundation, Chennai from 2009-2016.
• He was an elected fellow of the National Academy of Agriculture Sciences (NAAS) and the National Academy of Sciences of India (NASI).
• He was elected as President of the Agriculture Science and Forestry section of the Indian Science Congress in 2012.
• He was the President of the Biological Sciences Session of the National Academy of Sciences India in
• In 2017, he joined ILS, one of the 10 labs of the Indian SARS-CoV-2 Genomics Consortium (INSACOG) set up to monitor genomic coronavirus variations.

Awards & Honors :

• He was conferred with Padma Shri, India’s fourth-highest civilian award, in 2014 by the then President Pranab Mukherjee for his contribution to the field of Science and Technology.

CURRENT AFFAIRS: SPORTS NEWS

Bangladeshi Cricketer Tamim Iqbal Announces Retirement from T20Is:

• Tamim Iqbal, the Bangladesh ODI captain, announced his retirement from T20Is immediately after his team’s 3-0 victory over the West Indies in the three-match ODI series.
• In March 2020, he participated in his final T20 International.
• The 33-year-old has participated in 78 T20 Internationals and has scored 1758 runs at a 24.08 average.
• Tamim, who has scored 5082 runs in tests and 7943 runs in one-day internationals, is one of the finest openers to have come out of Bangladesh.
• Tamim is the only batter from Bangladesh to have recorded a century in T20Is.
• Against Oman, he accomplished an outstanding achievement at the 2016 T20 World Cup in India.
• He finished his T20I career as the third-highest run-scorer for his nation in the format, behind Test captain Shakib Al Hasan and current skipper Mahmudullah Riyad.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Uttarakhand CM Dhami released the book “BEYOND THE MISTY VEIL”:

• The book “BEYOND THE MISTY VEIL,” authored by Aradhana Johri (Senior IAS) and titled “Temple Tales of Uttarakhand,” was published by the chief minister Pushkar Singh Dhami.
• This book will be considered an authentic introduction to Uttarakhand’s sacred temples both domestically and abroad.
• Aradhana Johri, a former IAS official who formerly held the position of Nainital District Magistrate.

About the book:

• Our culture and mythology are explained in the book based on the mythical temples of Devbhoomi Uttarakhand.
• In addition to Chardham, religious tourism needs also be promoted.
• The temples of Uttarakhand are discussed throughout the book, as well as their historical significance and folklore surrounding them.
• Expanding them into circuits will link the major temples that are located around the state and encourage religious tourism.

Daily CA on July 22:

• During the Naval Innovation and Indigenisation Organisation (NIIO) lecture “Swavlamban” in New Delhi, Prime Minister Shri Narendra Modi presented the “SPRINT Challenges,” which are meant to encourage the use of indigenous technologies in the Indian Navy.
• Repos Pay, a platform for mobile electric charging, and Phy-gital, a platform for fintech, were unveiled by Union Minister of Micro, Small, and Medium Enterprises (MSME) Mr. Narayan Rane at the Fueling India 2022 event in Mumbai.
• Prime Minister Shri Narendra Modi has inaugurated the 296-km-long Bundelkhand Expressway, which passes through seven districts of Uttar Pradesh and has been constructed at a cost of around Rs 14,850 crore.
• L&T Technology Services is the first IT firm to officially express interest in the government’s direct allocation of spectrum for exclusive 5G networks.
• Mark Zuckerberg, CEO of Meta, disclosed that the business would provide a new “payments in conversation” function on
• India attracted USD 343.64 million FDI equity inflow in the R&D sector during C.Y. 2021 (Calendar Year) which is 516% higher as compared to previous C.Y. 2020 (USD 55.77 million).
• The list of the world’s most potent passports for 2022 was been published by the Henley Passport Index.
• According to the government’s flagship Smart City Mission, Tamil Nadu leads the list of states in terms of how well the money is being used.
• According to the Forbes Real-Time Billionaires List, Gautam Adani, the richest man in India, has passed Microsoft co-founder Bill Gates to move up to the fourth-richest position in the world.
• NHPC signed two MoUs for the development of “Pilot Green Hydrogen Technologies” in line with the country’s resolve to reduce the carbon footprint in the Power Sector in Leh and Kargil districts of the Union Territory of Ladakh.
• Tamim Iqbal, the Bangladesh ODI captain, announced his retirement from T20Is immediately after his team’s 3-0 victory over the West Indies in the three-match ODI series.
• The book “BEYOND THE MISTY VEIL,” authored by Aradhana Johri (Senior IAS) and titled “Temple Tales of Uttarakhand,” was published by the chief minister Pushkar Singh Dhami.
• Himachal Pradesh has become the first state in India to connect all registered commercial vehicles equipped with Vehicle Location Tracking Device (VLTD) with Emergency Response Support System (ERSS).
• Assam Chief Minister Shri Himanta Biswa Sarma launched ‘Swanirbhar Naari’, an initiative to empower the indigenous weavers of the state and provide financial support to their families.
• Arunachal Pradesh Chief Minister Shri Pema Khandu and Assam Chief Minister Shri Himanta Biswa Sarma inked a pact to end the decades-old border dispute between the two states.
• The Reserve Bank of India (RBI) has recommended a four-tier regulatory framework for urban cooperative banks (UCBs) based on the size of deposits and their area of operations.
• Standard Chartered Bank launched a co-branded credit card EaseMyTrip Standard Chartered Credit Card with the online travel tech platform EaseMyTrip.
• Bajaj Allianz Life Insurance, one of India’s leading private life insurers, and DBS Bank India, the wholly owned subsidiary of DBS Bank Ltd., Singapore, have announced a strategic partnership to offer a wide array of life insurance solutions to the DBS bank’s customers.
• The Reserve Bank of India (RBI) has announced severe restrictions on three cooperative banks namely Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra, Raigad Sahakari Bank, Mumbai, Maharashtra, Sri Mallikarjuna Pattana Sahakari Bank, Maski, Karnataka from conducting banking activity due to poor liquidity position.
• Retired General Officer of the Indian Army Mr. Lieutenant General Raj Shukla was appointed as a member of the Union Public Service Commission (UPSC).
• RattanIndia Power Ltd has appointed Brijesh Gupta as a Managing Director.
• The Uttar Pradesh cabinet appointed Deloitte Touche Tohmatsu India as a consultant to achieve the target of making the state a $1-trillion economy.
• Union Defence Minister Shri Rajnath Singh launched 75 newly-developed Artificial Intelligence (AI) products/technologies during the first-ever ‘AI in Defence’ (AIDef) symposium and exhibition, organized by the Ministry of Defence in New Delhi, Delhi, India.
• Noted scientist and Director, Institute of Life Sciences (ILS), Bhubaneswar Dr. Ajay Parida has Passed away at the age of 58 in Guwahati, Assam