Current Affairs in English

10 April 2022 Current Affairs Updates in English

National

AAI launches ‘AVSAR’ Scheme to provide a platform to SHGs 

The Airport Authority of India (AAI) has launched an initiative “AVSAR” to encourage the talent of women, artisans and craftsmen and provide them with the right opportunities. AVSAR stands for ‘Airport as Venue for Skilled Artisans Of The Region’.

Under “AVSAR” (Airport as Venue for Skilled Artisans Of The Region), which is an initiative of AAI, an opportunity to help the indigent to mobilize their households into functionally effective self-earned groups for self-reliance and self-dependence, has been provided.

An area of 100-200 square feet has been earmarked at each AAI operated airport. The space is being allotted to the self-help groups, turn on a turn basis, for a duration of 15 days.

Few outlets have already been commissioned at Chennai, Agartala, Dehradun, Kushinagar, Udaipur & Amritsar Airport wherein SHGs operated by local women, are showcasing and marketing their homemade local products like Puffed Rice, Packaged Papad, Pickles, Bamboo based Ladies Bag/Bottle/Lamp Sets, local artefacts, traditional craft, natural dyes, embroidery and indigenous weaves with contemporary design to the air travellers.

The initiative to strengthen SHGs by allotting space at AAI Airports will provide huge visibility to these small groups and prepare them to promote/market their products to the wider spectrum, reaching out to the larger population.

UGC gives approval for the establishment of the Bhima Bhoi Chair at DU, GGV

The Bhima Bhoi Chair at Delhi University and Guru Ghasidas Vishwavidyalaya in Bilaspur, Chhattisgarh, has been authorised by the University Grants Commission.

Bhima Bhoi was a saint, poet, and philosopher from Odisha. He battled against the caste system in Hinduism. Bhima Bhoi, a saint, poet, and philosopher from Odisha, India, was born in 1850 and died in 1895.

Bhima Bhoi was a Mahima Swamy bhakta (commonly referred to as Mahima Gosain and whose birth name is said to have been Mukunda Das). Bhima Bhoi would be initiated into Mahima Dharma, an Indian religious tradition that challenged caste Hinduism on its own terms, from Mahima Swamy.

India’s first case of the XE variant of coronavirus disease was reported in Mumbai

The first case of the XE variety of the coronavirus illness (Covid-19) in India was reported in Mumbai. The city civic authority Brihanmumbai Municipal Corporation (BMC) announced the results of its 11th genome sequencing, which identified one sample positive for the XE variant and another for the Kappa variant.

According to BMC officials, the person who tested positive for the XE strain was a fully vaccinated 50-year-old woman who had no co-morbidities and was asymptomatic.

She had arrived from South Africa on February 10th with no prior travel experience. She had tested negative for the virus when she arrived.

According to the World Health Organization (WHO), the new subvariant ‘XE’, which is a hybrid strain of two Omicron subvariants, could be the most transmissible coronavirus strain ever discovered.

INSACOG, which sequenced the case’s genome, stated that the sample did not indicate the presence of the variation.

XE is a hybrid or recombinant of Omicron’s two sub-variants (BA.1 and BA.2). The BA.2 sub-lineage has been linked to COVID-19 instances in the United States, the United Kingdom, and China.

Economy

Two separate Sebi panels to review ownership norms of MFs, trustees

The Securities and Exchange Board of India (Sebi) has formed two expert groups to look into the responsibilities, qualifications, and functions of sponsors and trustees at asset management firms (AMCs).

A sponsor, similar to a promoter, provides funds for the establishment of an AMC, whereas a trustee serves as a supervisor and is responsible for safeguarding the interests of investors.

Sebi stated in a statement that an alternative set of eligibility standards might be developed to allow new players who would otherwise be ineligible to function as a sponsor to do so.

Balasubramanian, MD & CEO of Aditya Birla Sun Life AMC, will chair the working group on sponsors. The Sebi has intimated that it may enable private equity (PE) firms to establish AMCs.

Bankings

Axis Bank and IDBI Bank have each been fined Rs 93 lakh by the RBI

The Reserve Bank of India announced that it has fined IDBI Bank and Axis Bank Rs 93 lakh each for a variety of infractions, including those connected to KYC standards. 

The RBI, on the other hand, stated that the penalties are based on regulatory compliance issues and are not intended to rule on the validity of any transaction or arrangement they have with their clients.

IDBI Bank and Axis Bank have been fined Rs 93 lakh by the Reserve Bank of India for failing to follow certain recommendations provided by the regulator, according to a press release.

The private sector lender also broke several loans and advance provisions, as well as Know Your Customer (KYC) guidelines and the “levy of penal costs for non-maintenance of minimum balances in savings bank accounts,” according to the complaint.

IDBI Bank was fined for failing to follow instructions on ‘fraud classification and reporting by commercial banks and select financial institutions.’

According to another announcement, it was also punished for violating standards on strengthening the controls of the payment ecosystem between sponsor banks and corporate customers such SCBs/UCBs’ and ‘cyber security framework.’

Business

Infosys and Rolls-Royce launched ‘The Aerospace Engineering and Digital Innovation Centre’ 

IT major Infosys and leading industrial tech company Rolls-Royce opened their joint “aerospace engineering and digital innovation centre’’ in Bengaluru, Karnataka. This centre has been established to provide high-end R&D services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India.

As part of this collaboration, Infosys and Rolls-Royce will combine their aerospace, engineering and digital services capabilities to explore opportunities for driving digital and engineering innovation and associated cost optimisation strategies.

Infosys and Rolls-Royce’s collaboration has been reinforced through strategic deals, aimed at yielding mutual benefits to both organisations over the next seven years.

Useful Points to Remember:

  • Infosys Founded: 7 July 1981;
  • Infosys CEO: Salil Parekh;
  • Infosys Headquarters: Bengaluru;
  • Rolls-Royce CEO: Torsten Müller-Ötvös (Mar 2010–);
  • Rolls-Royce Founded: 1904;
  • Rolls-Royce Headquarters: Westhampnett, United Kingdom;
  • Rolls-Royce Founders: Henry Royce, Charles Rolls.

Defence

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

The Defence Research and Development Organisation (DRDO) successfully flight tested the “Solid Fuel Ducted Ramjet” (SFDR) booster on April 08, 2022, at the Integrated Test Range (ITR), Chandipur off the coast of Odisha.

The test met all the mission objectives. The SFDR-based propulsion enables the missile to intercept aerial threats at very long range at supersonic speeds. It has an extremely 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 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 ITR.

The SFDR 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.

Useful Points to Remember:

  • Chairman DRDO: Dr G Satheesh Reddy;
  • DRDO Headquarters: New Delhi;
  • DRDO Established: 1958.

Awards

World Press Photo of the Year 2022: Kamloops Residential School

A photograph by Canadian photographer Amber Bracken titled “Kamloops Residential School” has won the 2022 World Press Photo of the Year award.

The photo shows children’s clothing hung on crosses commemorating the more than two hundred children who died of maltreatment, neglect and disease at the Kamloops Indian Residential School in British Columbia. Ms Bracken’s photo also won the Singles award in the regional North and Central America category.

Australian photographer Matthew Abbott won the Photo Story of the Year prize for a series of images for National Geographic/Panos Pictures that document how the Nawarddeken people of West Arnhem Land in northern Australia fight fire with fire by deliberately burning off undergrowth to remove fuel that could spark far larger wildfires.

The Long-Term Project award went to Lalo de Almeida of Brazil for a series of photos for Folha de São Paulo/Panos Pictures called “Amazonian Dystopia” that charts the effects of the exploitation of the Amazon region, particularly on Indigenous communities forced to deal with environmental degradation.

In regional awards announced previously, Bram Janssen of The Associated Press won the Stories category in Asia with a series of photos from a Kabul cinema and AP photographer Dar Yasin earned an honourable mention for photos from Kashmir titled “Endless War.”

Schemes

Ministry of Information and Broadcasting establishes the AVGC Promotion Task Force 

An animation, visual effects, gaming, and comics (AVGC) promotion task group have been established by the Ministry of Information and Broadcasting. The task force, which will be led by the I&B Secretary, will produce its first action plan within 90 days. Industry, academics, and state governments are all represented.

In her Budget speech, Union Finance Minister Nirmala Sitharaman announced the formation of an AVGC promotion task team.

The organisation will develop a national AVGC policy, recommend a national curriculum framework for graduation, post-graduate, and PhD courses in AVGC-related fields, and collaborate with academic institutions, vocational training centres, and industry to assist skilling programmes.

It will increase job possibilities, assist in promotion and market development operations to expand the Indian industry’s worldwide reach, increase exports, and recommend incentives to attract foreign direct investment in the sector.

According to the I&B Ministry, the country’s AVGC industry has the potential to be the torchbearer of Create in India and Brand India.

PM Mudra Yojana celebrates the completion of 7 years

The Pradhan Mantri Mudra Yojana, or PMMY, is celebrating its seventh anniversary. Prime Minister Narendra Modi announced the initiative on April 8, 2015, with the goal of granting loans up to ten lakh rupees to non-corporate, non-farm small, or micro-enterprises.

Since the inception of the Pradhan Mantri Mudra Yojana, more than 34 crores and 42 lakh loans worth 18.60 lakh crore rupees have been sanctioned as per the official statement.

Women Entrepreneurs have received around 68 per cent of the total number of loans approved. New Entrepreneurs have received nearly 22 per cent of the loans.

The Scheme has aided in the creation of an enabling environment for small enterprises, as well as large-scale job prospects at the grassroots level.

Pradhan Mantri Mudra Yojana has provided wings to millions of people who have seen their hopes and aspirations realised, as well as a sense of self-worth and independence, thanks to the Yojana PMMY.

Cabinet gives approval to an extension of AIM till March Next year

The Union Cabinet approved the continuation of the Atal Innovation Mission (AIM) until March 2023. AIM’s stated goals include developing 10,000 Atal Tinkering Labs (ATLs), 101 Atal Incubation Centres (AICs), and sponsoring 200 entrepreneurs through the Atal New India Challenges, according to the statement.

A total budgeted expenditure of Rs 2,000 crore plus will be incurred in the establishment and support of the beneficiaries.

According to the finance minister’s proclamation in the 2015 Budget speech, the mission will be run by the NITI Aayog.

The AIM’s goals are to foster an ecosystem of innovation and entrepreneurship across the country through interventions at the school, university, research, MSME, and industry levels.

The AIM has concentrated on both infrastructural development and institution formation, according to the statement.

According to the announcement, AIM-supported businesses have received over Rs 2,000 crores from the government and private equity investors, in addition to creating thousands of jobs.

The AIM programmes, which span 34 states and union territories, are aimed at maximising India’s demographic dividend by encouraging more engagement in the innovation ecosystem.

Books and Authors

‘Tomb of Sand’ becomes the first Hindi novel to get shortlisted for International Booker Prize

In the history of the International Booker Prize, the novel ‘Tomb of Sand’, authored by Geetanjali Shree, has become the first Hindi language work of fiction to be shortlisted for the prestigious literary prize.

The novel has been translated into English by Daisy Rockwell. The book Tomb of Sand will compete with five other novels from around the world. The literary prize comes with a cash award of 50,000 pounds, which is split equally between the author and translator.

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

Former Comptroller and Auditor General (CAG) and chief of Supreme court-appointed Committee of Administrators (CoA) in 2017, Vinod Rai has penned a book titled, “Not Just A Nightwatchman: My Innings with BCCI” in which the former bureaucrat encapsulates his 33-month stint 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. Notwithstanding his ardent support for the game, Rai refused to be blind to the flaws in its governance.

And so the nightwatchman decided to play on the front foot; a characteristic style that he carries forward as he describes his innings in Not Just a Nightwatchman.

Sports

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.

Usha International vice-president Anju Munjal, who was present during the presentation ceremony, said, “As part of our ethos of promoting an active and healthy lifestyle, Usha is proud to have supported golf platforms that have paved the way for juniors and amateurs as champions in the making.

Important Days

57th CRPF Valour Day 2022 observed on 9th April

The Central Reserve Police Force (CRPF) Valour Day (Shaurya Diwas) is observed on 9 April every year, as a tribute to the brave men of the Force. The year 2022 marks the 57th CRPF Valour Day.

It was on this day in 1965, a small contingent of CRPF created history by defeating an invading Pakistani army, several times larger, at the Sardar Post located in the Rann of Kutch, Gujarat.

The CRPF men eliminated 34 Pakistani soldiers and captured four alive. In the conflict, CRPF lost six personnel who had attained martyrdom.

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.

Useful Points to Remember:

  • Central Reserve Police Force Headquarters: New Delhi, India.
  • Central Reserve Police Force Formed: 27 July 1939.
  • Central Reserve Police Force Motto: Service and Loyalty.
  • CRPF director general: Kuldiep Singh.

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