Current Affairs September 25th & 26th 2022| Current Affairs News

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CURRENT AFFAIRS: IMPORTANT DAYS

25 September-World Pharmacists Day

• Every year on September 25, World Pharmacist Day is observed.
• This yearly remembrance aims to recognize the work of pharmacists in promoting world health.
• It is also intended to stimulate and support global healthcare initiatives.

Themes:

• “Pharmacy united in action for a healthier world” is the theme of World Pharmacists Day on 25 September 2022.

History:

• Every year on September 25, the world celebrates World Pharmacist Day.
• On this day in 2009, the World Congress of Pharmacy and Pharmaceutical Sciences saw the official opening of the International Pharmaceutical Federation (FIP) Council.
• On the same day in 1912 when the FIP was founded, World Pharmacist Day is observed.
• By commemorating this day, the FIP hopes to raise awareness of the importance pharmacists play in advancing global healthcare.

25 September- World River Day

• World Rivers Day is celebrated on the fourth Sunday of September every year
• This year it falls on September 25, to increase public awareness about rivers and to encourage their conservation.
• The day celebrates Earth’s waterways, in which over 60 countries participate every year.

History of World Rivers Day:

• In 2005, Mark Angelo, an internationally-celebrated river conservationist, approached the United Nations during its Water for Life campaign — a decade-long initiative to raise awareness about threatened water resources across the planet.
• Angelo advocated for an annual World Rivers Day to help anchor the campaign.
• World Rivers Day was seen by agencies of the United Nations as a good bet for the aims of the World for Life decade and other proposals.
• The first World Rivers Day was celebrated in over a dozen countries.
• Now, the annual event is marked by celebrations in more than 60 countries and the participation of millions of people.

25 September- Antyodaya Diwas

• Antyodaya Diwas is observed on September 25th each year in India.
• It commemorates the birth anniversary of Indian leader Pandit Deendayal Upadhyaya and is held to remember his life and legacy.
• He was one of the most famous figures in Indian political history.
• This year’s Antyodaya Diwas commemorates Upadhyaya’s 105th birthday.
• He was a Bharatiya Janata Sangh (BJS) co-founder and a Rashtriya Swayamsevak Sangh (RSS) theorist.
• Pandit Deendayal Upadhya was born on September 25, 1916, in the village of Chandrabhan near the town of Fareh in Mathura, Uttar Pradesh.
• He grew up in a Brahmin family.

26 September-World Contraception Day

• World Contraception Day 2022 is held on September 26 to raise awareness about various contraceptive techniques and to empower young people to make educated decisions about their sexual and reproductive health.

History:

• It was established on September 26, 2007, by ten international family planning organizations to raise awareness about contraception and to assist couples in making educated decisions about starting a family, so that every pregnancy is desired.

26 September- World Environmental Health Day

• September 26 is observed annually as World Environmental Health Day across the globe.
• It was established that year by the International Federation of Environmental Health (IFEH), a body of 44 member states, to raise awareness regarding the health of our environment.

Themes:

• World Environmental Health Day theme 2022 is “Strengthening Environmental Health Systems for the Implementation of the Sustainable Development Goals”

History:

• The International Federation of Environmental Health (IFEH) recognized September 26 as World Environmental Health Day in 2011.
• On this day in 2011, the Federation established the day during a meeting in Indonesia.

26 September- World Day of the Deaf

• World Deaf Day is celebrated every year on the last Sunday of September.
• This year World Deaf Day was celebrated on the 26th of September.
• The last week of September is celebrated as the International Week of the Deaf by the World Federation of the Deaf (WFD) and its national associations all over the world.

History

• The World Federation of the Deaf initiates World Deaf Day in the year of 1958.
• This day falls on the last Sunday of September.
• The first World Conference of the World Federation of the Deaf took place in Rome, Italy in 1951.
• The last week of September is observed as the International Week of the Deaf and International Day of Sign Language.
• In 1959, the United Nations and World Health Organization recognized the World Federation of the Deaf.
• In 2018, International Sign Language is recognized during the last week in September along with World Day of the Deaf.

CURRENT AFFAIRS: NATIONAL NEWS

Corporate Affairs Ministry (MCA) has revised the cap on the fees for impact assessment

• Corporate Affairs Ministry (MCA) has revised the cap on the fees that could be paid by corporates for impact assessment.
• It has also provided clarity on the entities through which CSR obligations could be fulfilled.
• Corporates can now pay more than ₹50 lakh for impact assessment.
• In January 2021, impact assessment was made mandatory for companies with a CSR budget of ₹10 crores or more in a fiscal year and projects with outlays of ₹1 crore or more.
• As per the rules, companies cannot carry out a self-assessment on the impact of their CSR spending.
• Under the revised norms, expenses on impact assessment are capped at 2% of total CSR spend or ₹50 lakh, whichever is higher.
• MCA has also said that companies shall have CSR Committee even in cases where the amounts transferred to an ‘unspent CSR account’ is less than ₹50 lakh.

Shri Sarbananda Sonowal inaugurated an international conference on Consciousness.

• Union Minister Ayush Sarbananda Sonowal inaugurated an international conference on Consciousness.
• It has been organized under the theme, “Exploring Consciousness- From Non-Locality to Non-Duality: The Man- Machine Debate” at NIMHANS,
• It has been organized by India Foundation and NIMHANS and supported by the Ministry of Ayush.
• The conference aims to bring eminent researchers and inventors in the areas of physics, biology, neuroscience, artificial intelligence, etc. on one platform.
• Sarbananda Sonowal also inaugurated the Centre of Excellence project as part of the “Ayurswasthya Yojana” at NIMHANS.
• The Centre of Excellence (CoE) will strengthen the competencies of Ayush professionals in Education Technology, and Research & innovation.

Ministry of Textiles recently cleared 23 strategic research projects worth around Rs 60 crores:

• The Ministry of Textiles recently cleared 23 strategic research projects worth around Rs 60 crores in Specialty fibres, Sustainable Textiles, Geotextiles, Mobiltech, and Sports textiles under the National Technical Textiles Mission.
• Technical textiles are functional fabrics that have applications across various industries including automobiles, civil engineering, construction, agriculture, healthcare, industrial safety, personal protection, etc.
• National Technical Textiles Mission (NTTM) was approved in 2020 by the Cabinet Committee on Economic Affairs (CCEA) with a total outlay of Rs.1480 Crore.
• The implementation period is four years, from FY 2020-21 to FY 2023-24.
• The mission aims to position India as a global leader in Technical Textiles by taking the domestic market size from USD 40 billion to USD 50 billion by 2024.
• It also supports the ‘Make in India’ Initiative promoting domestic manufacturing of related machinery and equipment.

India launched the “Innovation Roadmap of the Mission Integrated Biorefineries”:

• India launched the “Innovation Roadmap of the Mission Integrated Biorefineries” at Global Clean Energy Action Forum-2022.
• “Innovation Roadmap of the Mission Integrated Biorefineries” has been developed from the leads and results received from Brazil, Canada, EC, and the UK.
• The main goals of the initiative are to increase global cooperation and boost funding for R&D in the energy sector.
• “Innovation Roadmap of the Mission Integrated Biorefineries” aims to fill the identified gaps and resolve the current challenges in biorefining value chains.
• It will also provide a strategic framework for policymakers to move toward research and development over the next five years.
• A pilot plant of 10 Tons/day capacity plant with integrated enzyme production will be commissioned at Panipat, Haryana by 2022.
• It will be the first indigenous technology for on-site enzyme production.
• During the conference, India agreed to reach 500-Gigawatt non-fossil energy capacity and reduce the carbon intensity of the economy by 45% over 2005 levels.

Union Health Minister has inaugurated Arogya Manthan in 2022:

• Health Minister Shri Mansukh Mandaviya will inaugurate Arogya Manthan 2022.
• Arogya Manthan 2022 will be inaugurated to celebrate the completion of four years of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana and one year of implementation of Ayushman Bharat Digital Mission (ABDM).
• AB-PMJAY completed four years of its implementation.
• Ayushman Bharat Digital Mission (ABDM) will celebrate its first anniversary on 27 September 2022.

About AB-PMJAY:

• The AB-PMJAY scheme aims to benefit more than 10 crores of poor families across the country by providing them with an annual health insurance coverage of five lakh rupees.
• It was launched in September 2018 by Prime Minister Narendra Modi.
• Global and national healthcare professionals, as well as members from academia, think tanks, industry, and media, will attend the two-day event.
• NHA will also present the Ayushman Utkrishtata Puraskaar 2022 (Ayushman Excellence Awards) to felicitate the top performing states, PMAMs (Pradhan Mantri Arogya Mitra), and public hospitals under the AB PM-JAY.
• Best-performing states/ UTs, districts, private & government health facilities, and digital health solutions will be felicitated under ABDM.

CURRENT AFFAIRS: INTERNATIONAL NEWS

5 Asian countries, including India, join hands to form a palm oil alliance

• Edible oil trade associations from five palm oil importing countries in South Asia India, Pakistan, Sri Lanka, Bangladesh, and Nepal for the first time allied with, Asian Palm Oil Alliance (APOA).

Aim :

• To work worldwide to ensure that palm oil is recognized as a high-quality, economical, and healthy vegetable oil and to change the negative image of palm oil, a statement by India’s edible oil industry body The Solvent Extractors’ Association of India.
• APOA held its first general body meeting on the sidelines of the Globoil Summit held in Agra, Uttar Pradesh (UP)
• In the first general body meeting of the Alliance, Atul Chaturvedi, the President of the Solvent Extractors Association (SEA), was elected as the first Chairman.
• The next meeting of APOA is expected to be held in Indonesia in early 2023.
• The Alliance is expected to safeguard the economic and business interests of the palm oil-consuming countries and create a level playing field for all fats and oils used in food, feed, and oleochemicals in Asia.
• Also, the 5 country Alliance members separately held a meeting with the 10-member delegation from the Indonesian Coordinating Ministry for Economic Affairs and Indonesia, the Indonesian Palm Oil Association (GAPKI), and the Indonesian Sustainable Palm Oil (ISPO) Secretariat to explore joint research to scientifically demonstrate the health benefits of palm oil and also launch joint consumer campaigns in Asian markets.

Note :

• India’s annual imports of edible oil are around 13-14 million tonnes (MT).
• Around 8 MT of palm oil is imported from Indonesia and Malaysia, while other oils, such as soya and sunflower, come from Argentina, Brazil, Ukraine, and Russia.
• Asia accounts for around 40% of the global palm oil consumption while Europe accounts for 12% of the palm oil trade.
• Indonesia and Malaysia are the biggest palm oil exporters in the
• India is the largest importer of palm oil in Asia, accounting for 15% of global imports, followed by China (9%), Pakistan (4%), and Bangladesh (2%).

CURRENT AFFAIRS: STATE NEWS

Haryana, Rajasthan, Delhi & UP sign pact for passenger vehicle movement

• Haryana, National Capital Territory (NCT)-Delhi, Rajasthan, and Uttar Pradesh (UP) signed the Status of Combined Reciprocal Common Transport Agreement, Contract Carriage, and Stage Carriage, (CRCTA).

Key Highlights :

• There will be single-point taxation for all motor cabs/taxis/auto rickshaws; all Stage carriage buses, and all State Transport Undertakings (STUs) of NCR, including city bus services.
• It will encourage shifts of traffic from private vehicles to mass public transport vehicles and will help to ease traffic congestion and reduce air pollution.
• This agreement will ensure the seamless movement of passenger vehicles in the NCR.
• During the meeting, Inter-state road/linkages connectivity among National Capital Region (NCR) states, road safety, and possibilities of Compressed Natural Gas (CNG)/Electric buses in the region were also discussed.
• The meeting discussed ensuring operational vehicle location tracking devices and speed governors in all such vehicles under CRCTA.
• The meeting also focused on road safety issues.
• NCR states were requested to compile data on the black spots in the region along with locations of PTZ cameras, and emergency trauma care centers along MDR, National Highways, State Highways, and Expressways in

About Haryana :

• Governor: Bandaru Dattatreya
• Chief minister: Manohar Lal Khattar
• Capital: Chandigarh

About Rajasthan :

• Governor: Kalraj Mishra
• Chief minister: Ashok Gehlot
• Capital: Jaipur

About Delhi :

• Governor: Vinai Kumar Saxena
• Chief Minister : Arvind Kejriwal
• Capital: New Delhi

About UP :

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

CURRENT AFFAIRS: BANKING & FINANCE

RBI cancels license of Solapur-based Laxmi Co-operative Bank

• The Reserve Bank of India (RBI) has canceled the license of Solapur (Maharashtra) based The Laxmi Co-operative Bank Limited as the lender does not have adequate capital and earning prospects.

Reasons for canceling the license:

• The bank does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
• The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d), and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949
• The continuance of the bank is prejudicial to the interests of its depositors
• On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh only from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
• About 99% of the depositors are entitled to receive the full amount of their deposits from the DICGC.
• As on September 13, 2022, the DICGC has already paid Rs 193.68 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961.

About RBI :

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

TerraPay and NPCI collaborate for merchant payments via UPI-enabled QR codes

• Cross-border payments company TerraPay headquartered in Amsterdam, Netherlands partnered with the National Payments Corporation of India’s (NPCI) international arm NPCI International Payments Limited (NIPL) to allow merchants in India with Unified Payments Interface (UPI) ID to make and accept cross-border payments

About the Partnership :

• With the partnership, customers with active UPI IDs (350 million bank accounts) will be able to transact at QR locations enabled by TerraPay globally.
• The initiative will speed up the usage of UPI apps across different geographies thereby further enhancing the digital drive for cashless transactions. 
• Furthermore, UPI payments & QR transactions are customer-initiated with two-factor authentication.
• UPI is an instant real-time payments (RTP) system developed by the National Payments Corporation of India. 
• According to Statista, the person-to-merchant (P2M) market in India was estimated to reach Rs 84 lakh crore by the financial year 2025 from around Rs 18 lakh crore in FY19 with Paytm, PhonePe, Google Pay, etc., among key players.
• In 2021, UPI enabled commerce worth 940Bn (~39Bn transactions).
• In August 2022 alone, the volume of transactions crossed56Bn.

About NIPL :

• Founded: 2020
• Headquarters: Mumbai, Maharashtra, India
• CEO: Ritesh Shukla

World Bank approves 150 million dollars loan for Punjab to improve finances & service delivery

• The World Bank (WB) has approved a loan of $150 million (nearly ₹1,200 crores) to Punjab to help it better manage its financial resources and improve access to public services.
• The USD 150 million loans have a maturity of 15 years including a grace period of six months.

Key Highlights :

• The WB would support Punjab’s efforts to strengthen the institutional capabilities of various government departments, manage fiscal risks, and make informed policy choices to support sustainable growth.
• The project will pilot two initiatives that will introduce a performance-based grants system to incentivize municipal corporations to improve service delivery, and it will demonstrate the delivery of 24×7 water supply in select areas in the cities of Amritsar and Ludhiana.
• The new project will support Punjab’s development goals by strengthening planning, budgeting, and monitoring functions and leveraging digital technology, 
• It will also increase accountability in the public procurement systems by supporting the state-wide implementation of new legal and policy reforms.

About WB :

• Established: December 1945
• Headquarters: Washington, D.C., United States
• President : David Malpass
• MD & CFO: Anshula Kant
• Chief Economist: Carmen Reinhart
• The WB is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA).

About Punjab :

• Governor: Banwarilal Purohit
• Chief minister: Bhagwant Mann
• Capital: Chandigarh

Aditya Birla Sun Life Insurance launches ABSLI Akshaya Plan

• Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched a new-age savings solution ABSLI Akshaya Plan, a non-linked participating individual savings life insurance plan offering immediate liquidity option through cash bonus facility.
• This plan provides the benefit of a comprehensive life insurance cover and a regular source of income to ensure the fulfillment of your family’s growing needs.

About ABSLI Akshaya Plan :

• ABSLI Akshaya plan provides competitive returns with high flexibility.
• Policyholders can avail the benefits of this plan on a long-term basis (25, 30, 35, 40 years) or whole life basis (till the age of 85 or 100).
• The maximum entry age to avail ABSLI Akshaya Plan is 55 years, while the minimum age is 30 days. 
• The minimum annualized premium is Rs. 24,000 Policyholders can choose from multiple premium payment term options ranging from 6, 8, 10, 12 & 15 years.
• The plan enables the policyholder to draw cash bonus from the end of the first policy year, providing a regular source of income

About ABSLI :

• Founded: August 4th, 2000 (Commenced operations on January 17th, 2001)
• Headquarters: Mumbai, Maharashtra
• MD & CEO : Kamlesh Rao
• Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a subsidiary of Aditya Birla Capital Ltd (ABCL).
• ABSLI is a 51:49 joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization in

RBI bars Mahindra Finance from using third-party recovery agents

• The Reserve Bank of India (RBI) has barred Mahindra & Mahindra Financial Services from using third-party recovery agents.
• The RBI has, in the exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, directed Mahindra & Mahindra Financial Services Ltd. (MMFSL), Mumbai, to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders.
• The decision follows the death of a pregnant woman (27) in Jharkhand’s Hazaribagh district who was allegedly crushed to death under the wheels of a tractor by recovery agents.
• The MMFSL is a non-banking finance company (NBFC).

CURRENT AFFAIRS: BUSINESS NEWS

Ministry of Agriculture and Farmers Welfare the first advance estimates of production of major Kharif crops for 2022-23:

• The Ministry of Agriculture and Farmers Welfare released the first advance estimates of production of major Kharif crops for 2022-23, with the total food grain production estimated to reach a new high of 149.92 million tonnes.
• The food grain production of 149.92 million tonnes is estimated in the Kharif season.
• Record rice production of 104.99 million tonnes is estimated in the Kharif season.
• It is higher by 4.40 million tonnes than the previous five years’ average Kharif rice production of 100.59 million tonnes.
• Nutri or Coarse Cereals production is estimated to be 36.56 million tonnes, record Maize 23.10 million tonnes, Pulses 8.37 million tonnes, Tur 3.89 million tonnes, Oilseeds 23.57 million tonnes, Groundnut 8.37 million tonnes, Soyabean 12.89 million tonnes, Cotton production of 34.19 million bales of 170 kg each, Jute and Mesta 10.09 million bales of 180 kg each and record Sugarcane production of 465.05 million tonnes.

CURRENT AFFAIRS: AWARDS AND HONOUR

9th NLEPC for the INSPIRE Awards – MANAK has commenced:

• The Ninth National Level Exhibition and Project Competition (NLEPC) for the INSPIRE Awards – MANAK (Million Minds Augmenting National Aspiration and Knowledge), has commenced.
• It is aligned with the ‘Start-up India’ initiative and is being executed by DST (Department of Science and Technology) with the National Innovation Foundation – India (NIF), an autonomous body of DST.
• Financial support of Rs 10,000 each would be provided so that they could develop prototypes of the ideas which they submitted for the scheme.
• The INSPIRE Awards were presented to 60 Start-Ups and financial support was provided to 53,021 students.
• It touched an unparalleled level of inclusivity by representing ideas and innovations of 702 districts of the country (96%) including 123 out of 124 aspirational districts, with 51% representation from girls, 84% participation from schools located in rural areas of the country and 71% of the schools run by the State / UT Governments.

About INSPIRE:

• “Innovation in Science Pursuit for Inspired Research (INSPIRE)” is an innovative program sponsored and managed by the Department of Science & Technology to the attraction of talent to Science.
• The basic objective of INSPIRE is to communicate to the youth of the country the excitement of the creative pursuit of science, attract talent to the study of science at an early age and thus build the required critical human resource pool for strengthening and expanding the Science & Technology system and R & D base.

CURRENT AFFAIRS: MOUS AND AGREEMENT

TSSC has launched a center of excellence with Huawei Technologies:

• Telecom Sector Skill Council (TSSC), a skill development institution for the telecom industry, has launched a center of excellence with Huawei Technologies at NIT Patna for capacity building.
• The center which will come up under the aegis of the ministry of skill development and entrepreneurship will cater to roles in information and communications technology, cyber security, electronics, and communication including technical, services, and allied fields.
• The MoU, which has been signed for five years, is aimed at skilling, reskilling, and upskilling aspiring students to enhance their employability through training in innovative technologies.

IIT Madras has partnered with Accenture to set up a Centre of Excellence:

• The Indian Institute of Technology (IIT) Madras has partnered with information technology (IT) consulting firm Accenture to set up a Centre of Excellence (CoE) to undertake collaborative research projects.
• They will also jointly develop intellectual properties and thought leadership focused on digital engineering and manufacturing across industries.
• Specific areas of collaboration will include autonomous robotics systems (ARS), industrial internet of things (IIoT), digital twins, and advanced automotive technologies such as electric mobility services, according to a joint statement.
• The CoE will also work as an incubator and identify disruptive early-stage startups to drive innovation and research in these areas.
• Earlier in September, International Business Machines (IBM) partnered with the IIT-Madras to advance quantum computing skills development and research in India.
• Also, Accenture collaborated with the Indian Institute of Science (IISc) Bengaluru to establish Accenture Centre for Advanced Computing.
• University collaboration has been the key to Accenture’s innovation agenda.

AMTZ has signed an MOU with NSIC for cooperation in the healthcare sector:

• Andhra Pradesh Med Tech Zone (AMTZ), India’s largest life-saving medical devices manufacturing cluster, has signed a memorandum of understanding with the National Small Industries Corporation (NSIC) for cooperation in the healthcare sector.
• Union Minister for MSME Narayan Rane, the MoU is a significant step for enhancing the competitiveness of MSMEs in the healthcare sector.
• Both organizations can leverage their expertise and create excellent opportunities for MSMEs in the healthcare sector to form global alliances and get access to the latest medical technologies along with creating skilled manpower for this sector.

Airlines have signed an MOU with CSIR–IIP to collaborate and work together on research:

• Airlines under the Tata umbrella have signed a memorandum of understanding with the Council of Scientific And Industrial Research–Indian Institute Of Petroleum (CSIR–IIP) to collaborate and work together on research, development, and deployment of sustainable aviation fuels.
• The focus of the MoU is the exploration of Single Reactor HEFA Technology for Drop-in liquid Sustainable Aviation and Automotive Fuel (DILSAAF).
• The MoU was signed by Air India, AirAsia India, and Vistara airlines with CSIR-IIP.
• Sustainable aviation fuel is made from sustainable resources, such as forestry and agricultural waste and used cooking oil, and can be blended with fossil jet fuel to reduce emissions.
• It is a ‘drop-in’ fuel, meaning it can be added with no changes needed to the aircraft.
• In December last year, IndiGo partnered with CSIR-IIP on sustainable aviation fuel, including work on single Reactor HEFA Technology for Drop-in liquid Sustainable aviation and Automotive Fuel (DILSAAF).

Additional Info:

• In 2016, the International Civil Aviation Organization (ICAO) adopted a global market-based mechanism, the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), to address CO2 emissions from international aviation.
• CORSIA aims to stabilize net carbon emissions from international civil aviation using offsetting programs.
• Under this, from 2021 until 2026, only flights between states that volunteer to participate will be subject to offsetting requirements.
• The countries that have volunteered cover about 77% of all international aviation activity.
• Beginning in 2027, virtually all international flights will be subject to mandatory offsetting requirements, representing more than 90% of all international aviation activity.
• Until September 2021,107 states have volunteered to join CORSIA for 2022.

CIL inked an MoU with BHEL, IOC, and GAIL

• Easing the way for setting up coal-to-chemical projects through Surface Coal Gasification (SCG) route, Coal India Limited (CIL) inked a Memorandum of Undertaking (MoU) with Bharat Heavy Electricals Limited, Indian Oil Corporation and GAIL (India).
• Through the SCG route, coal is converted into syngas that can be subsequently processed for downstream production of value-added chemicals.
• These are otherwise produced through imported natural gas or crude oil.
• Envisaged end products would be di-methyl ether, synthetic natural gas, and ammonium nitrate.
• The upside of the proposed projects is reduced forex outgo and direct and indirect employment generation to the tune of 23,000.
• With the twin objectives of self-reliance and energy independence, the Ministry of Coal has set a target for achieving 100 million tonnes of coal gasification by 2030.

About CIL:

• Headquarters: Kolkata
• CEO: Pramod Agrawal
• Founded: November 1975

About BHEL:

• Headquarters: New Delhi
• Founded: 13 November 1964
• CEO: Nalin Singhal

About GAIL

• CEO: Shri Manoj Jain
• Headquarters: New Delhi
• Founded: 1984

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

SC appoints ex-judge Justice Mr. L Nageswara Rao for amending the constitution of IOA

• The Supreme Court appointed former apex court judge Justice Mr. L Nageswara Rao for amending the constitution of the Indian Olympic Association (IOA) and preparing the electoral college.

Roles & Responsibility :

• The apex court asked Justice Rao to prepare a road map for amending the constitution and holding elections by December 15, 2022.
• A bench headed by Justice Mr. D Y Chandrachud announced the ex-top court judge would ensure a fair and development-oriented approach for the future of the Olympics in India.
• It also gave its permission to Rajeev Mehta, who is currently the secretary general of IOA, and Mr. Adille Sumariwalla, vice president of IOA, to participate in the meeting with the International Olympic Committee (IOC).

Background :

• On 8th September 2022, The IOC issued a final warning to IOA to resolve its governance issues and hold elections by December 2022 failing which the world sports body will ban India.

Mr. Anil Khanna resigns as Indian Olympic Association acting president

• Senior sports administrator Mr. Anil Khanna resigned as acting president of the Indian Olympic Association (IOA).
• Khanna took charge of IOA after a court ruling ended Narinder Batra’s reign as chief of the apex sports body in the country.

About IOA :

• The IOA is the body responsible for selecting athletes to represent India at the Olympic Games, Asian Games, and other international athletic meets.
• It also acts as the Indian Commonwealth Games Association, responsible for selecting athletes to represent India at the Commonwealth Games

CURRENT AFFAIRS: DEFENCE NEWS

MOD signs a deal for dual role Surface-to-Surface BrahMos missile with BAPL

• The Ministry of Defence (MOD) signed a contract with M/s BrahMos Aerospace Pvt. Ltd. (BAPL) for the acquisition of additional dual-role capable Surface to Surface BrahMos missiles at an overall approximate cost of ₹ 1700 Crore under the “Buy-Indian” Category.
• The induction of these dual-role capable Missiles is going to significantly enhance the operational capability of Indian Navy (IN) fleet assets.
• BAPL increased the new generation of Surface-to-Surface Missiles (SSMs) with enhanced range and dual role capability for land as well as anti-ship attacks.
• This contract is going to give a further boost to indigenous production of critical weapon systems and ammunition with the active participation of indigenous industry.

About BAPL :

• Founded: February 12, 1998
• Headquarters: New Delhi, Delhi, India
• MD & CEO : Atul Dinkar Rane
• It was founded as a joint venture between India’s Defence Research and Development Organisation (DRDO) and NPO Mashinostroyenia of Russia.
• The company’s name is a portmanteau formed from the names of two rivers, the Brahmaputra of India and the Moskva of Russia.

CURRENT AFFAIRS: ACQUISITIONS & MERGERS

Mahindra & Mahindra to acquire Swaraj Engines’ 17.41% stake from Kirloskar Industries

• Mahindra & Mahindra(M&M) will acquire 21,14,349 equity shares constituting a 17.41% stake in Swaraj Engines Ltd (SEL) from Kirloskar Industries Ltd (KIL) for Rs 296 crore.
• The acquisition will result in increasing the M&M stake in Swaraj Engines (SEL) to 52.13% from 34.72%.
• The paid-up equity share capital of SEL from KIL at Rs 1,400 per share.
• Consequently, SEL, which is currently an associate of the company, would become a subsidiary of M&M.

About Mahindra & Mahindra :

• Founded: 2 October 1945
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Anand Mahindra
• MD & CEO: Dr. Anish Shah

About SEL :

• Headquarters: Mohali, Punjab
• SEL is in the business of manufacturing diesel engines and their components.

Ageas Federal Life Insurance becomes the first life insurer to have a 74% stake held by a foreign shareholder

• Ageas Federal Life Insurance (AFLI) has become the first life insurance company in India to have a 74% stake held by a foreign partner after Belgium-based Ageas Insurance International completed the acquisition of the 25% stake in the life insurance joint venture (JV) from IDBI Bank.
• Ageas has acquired the additional 25% stake of IDBI Bank in Ageas Federal Life Insurance for a total cash consideration of Rs 580 crore.
• After the acquisition of the additional 25% stake, Ageas’ shareholding in the JV rose to 74% from the earlier-held 49%.
• Federal Bank continues to hold a 26% stake in the life insurer, while IDBI Bank exited as a shareholder.

About AFLI :

• Founded: 2007
• Headquarters: Mumbai, Maharashtra, India
• CEO & Whole Time Director: Vighnesh Shahane
• AFLI (Formerly known as IDBI Federal Life Insurance) is a joint venture of Federal Bank, which is a private sector bank in India and Ageas.

Daily CA on September 25 & 26:

• Every year on September 25, World Pharmacist Day is observed.
• World Rivers Day is celebrated on the fourth Sunday of September every year
• Antyodaya Diwas is observed on September 25th each year in India.
• World Contraception Day 2022 is held on September 26 to raise awareness about various contraceptive techniques and to empower young people to make educated decisions about their sexual and reproductive health.
• September 26 is observed annually as World Environmental Health Day across the globe.
• World Deaf Day is celebrated every year on the last Sunday of September.
• Corporate Affairs Ministry (MCA) has revised the cap on the fees that could be paid by corporates for impact assessment.
• Union Minister Ayush Sarbananda Sonowal inaugurated an international conference on Consciousness.
• The Ministry of Textiles recently cleared 23 strategic research projects worth around Rs 60 crores in Specialty fibres, Sustainable Textiles, Geotextiles, Mobiltech, and Sports textiles under the National Technical Textiles Mission.
• India launched the “Innovation Roadmap of the Mission Integrated Biorefineries” at Global Clean Energy Action Forum-2022.
• Health Minister Shri Mansukh Mandaviya will inaugurate Arogya Manthan 2022.
• The Ministry of Agriculture and Farmers Welfare released the first advance estimates of production of major Kharif crops for 2022-23, with the total food grain production estimated to reach a new high of 149.92 million tonnes.
• The Ninth National Level Exhibition and Project Competition (NLEPC) for the INSPIRE Awards – MANAK (Million Minds Augmenting National Aspiration and Knowledge), has commenced.
• Telecom Sector Skill Council (TSSC), a skill development institution for the telecom industry, has launched a center of excellence with Huawei Technologies at NIT Patna for capacity building
• The Indian Institute of Technology (IIT) Madras has partnered with information technology (IT) consulting firm Accenture to set up a Centre of Excellence (CoE) to undertake collaborative research projects.
• Andhra Pradesh Med Tech Zone (AMTZ), India’s largest life-saving medical devices manufacturing cluster, has signed a memorandum of understanding with the National Small Industries Corporation (NSIC) for cooperation in the healthcare sector.
• Airlines under the Tata umbrella have signed a memorandum of understanding with the Council of Scientific And Industrial Research–Indian Institute Of Petroleum (CSIR–IIP) to collaborate and work together on research, development, and deployment of sustainable aviation fuels.
• Easing the way for setting up coal-to-chemical projects through Surface Coal Gasification (SCG) route, Coal India Limited (CIL) inked a Memorandum of Undertaking (MoU) with Bharat Heavy Electricals Limited, Indian Oil Corporation and GAIL (India).
• Edible oil trade associations from five palm oil importing countries in South Asia India, Pakistan, Sri Lanka, Bangladesh, and Nepal for the first time allied with, Asian Palm Oil Alliance (APOA).
• Haryana, National Capital Territory (NCT)-Delhi, Rajasthan, and Uttar Pradesh (UP) signed the Status of Combined Reciprocal Common Transport Agreement, Contract Carriage, and Stage Carriage, (CRCTA).
• The Reserve Bank of India (RBI) has canceled the license of Solapur (Maharashtra) based The Laxmi Co-operative Bank Limited as the lender does not have adequate capital and earning prospects.
• Cross-border payments company TerraPay headquartered in Amsterdam, Netherlands partnered with the National Payments Corporation of India’s (NPCI) international arm NPCI International Payments Limited (NIPL) to allow merchants in India with Unified Payments Interface (UPI) ID to make and accept cross-border payments
• The World Bank (WB) has approved a loan of $150 million (nearly ₹1,200 crores) to Punjab to help the state better manage its financial resources and improve access to public services.
• Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched a new-age savings solution ABSLI Akshaya Plan, a non-linked participating individual savings life insurance plan offering immediate liquidity option through cash bonus facility.
• The Reserve Bank of India (RBI) has barred Mahindra & Mahindra Financial Services from using third-party recovery agents.
• The Supreme Court appointed former apex court judge Justice Mr. L Nageswara Rao for amending the constitution of the Indian Olympic Association (IOA) and preparing the electoral college.
• Senior sports administrator Mr. Anil Khanna resigned as acting president of the Indian Olympic Association (IOA).
• The Ministry of Defence (MOD) signed a contract with M/s BrahMos Aerospace Pvt. Ltd. (BAPL) for the acquisition of additional dual-role capable Surface to Surface BrahMos missiles at an overall approximate cost of ₹ 1700 Crore under the “Buy-Indian” Category.
• Mahindra & Mahindra(M&M) will acquire 21,14,349 equity shares constituting a 17.41% stake in Swaraj Engines Ltd (SEL) from Kirloskar Industries Ltd (KIL) for Rs 296 crore.
• Ageas Federal Life Insurance (AFLI) has become the first life insurance company in India to have a 74% stake held by a foreign partner after Belgium-based Ageas Insurance International completed the acquisition of the 25% stake in the life insurance joint venture (JV) from IDBI Bank.