Table of Contents
Important Days
World Rotaract Day celebrates on the 13th of March
World Rotaract Day is celebrated on the 13th of March every year to acknowledge the services provided by the retractors across the world. The theme of World Rotaract Day 2022 is “Rotary Making a Difference”. World Rotaract Week will be held from 11 March 2022 to 18 March 2022.
Rotary Club is a community service organization for young men and women. They take part in international service projects, in a global effort to bring peace and international understanding to the world.
International Day of Mathematics observed on 14 March
International Day of Mathematics (IDM) is observed globally on the 14th of March every year. It is also known as the Pi Day because the mathematical constant π (pi) can be rounded down to 3.14.
It aims to educate people about the essential role of mathematics in science and technology, improve quality of life, empower women and girls, and contribute to sustainable development. This is a relatively new event that was created just a couple of years back. The theme for 2022 IDM is “Mathematics Unites!“.
The proclamation of March 14 as the International Day of Mathematics was adopted in the 205th session of the UNESCO’s Executive Council. The day was then adopted in the 40th session of the General Conference of UNESCO in November 2019. Later in 2020, the world celebrated its First International Day of Mathematics on March 14, 2020.
National
India’s first medical city ‘Indrayani Medicity’ to set up in Maharashtra
The state government of Maharashtra has announced to set up the country’s first medical city named ‘Indrayani Medicity’ in Pune, to provide all kinds of specialised treatment under one roof. It will come up in 300-acre of land area in Khed taluka of Pune.
The project is estimated to attract investment worth over Rs. 10,000 crore. Indrayani Medicity will have hospitals, centres for medical research, pharmaceutical manufacturing, wellness and physiotherapy, and will be the first-of-its-kind city in the country to have all the treatments available in one place.
The Medicity will have about 24 separate hospital buildings, each housing one department. The Medicity will not only benefit Pune but will also be useful for people from neighbouring districts who come to the city for better treatment.
PM Narendra Modi dedicates Rashtriya Raksha University in Gandhinagar, Gujarat
Prime Minister Narendra Modi has dedicated to the nation a new campus building complex of the Rashtriya Raksha University (RRU) at Lavad village near Gandhinagar, Gujarat. PM also addressed the first convocation of RRU Gandhinagar as a Chief Guest. The University, which is an Institution of National Importance, commenced its operations from 1st October 2020.
Rashtriya Raksha University (RRU) was set up to meet the need for high quality trained manpower in various wings of policing, criminal justice and correctional administration.
The government set up a national police university named Rashtriya Raksha University by upgrading the Raksha Shakti University which was established by the Government of Gujarat in 2010.
The University, which is an Institution of National Importance, commenced its operations from 1st October 2020. The University will develop synergies with the private sector by leveraging knowledge and resources from the industry and would also set up Centres of Excellence in various fields relating to police and security.
First Gati Shakti Cargo Terminal of Indian Railways commissioned
The Asansol Division of Indian Railways has successfully commissioned private siding of Maithan Power Limited at Thaparnagar, Jharkhand, in accordance with the Prime Minister’s vision Gati Shakti and the Ministry of Railways’ policy regarding the Gati Shakti Multi-Modal Cargo Terminal or also known as GCT, informed the Ministry of Railways.
The coal needed for the power plant was delivered via road, which is estimated to yield 120 inbound coal rakes every month. Somewhere between two to four outward rakes of Fly Ash are expected to be handled from the siding area. This will increase the railways’ monthly earnings by almost Rs. 11 crores.
Tamilnadu Petroproducts became the world’s first LAB manufacturing company to get BIS certification
TPL (Tamilnadu Petroproducts Ltd.) is the world’s first linear alkylbenzene (LAB) manufacturing company to be certified by the Bureau of Indian Standards (BIS). TPL’s ‘Superlab’ brand is one of the most well-known laboratory brands in the country.
TPL’s position as the market leader and the only authorised seller of the chemical in India will be bolstered by the certification. LAB can be used to make biodegradable detergent, making it a more sustainable option than conventional detergent formulations.
International
The ex-student protest leader, Gabriel Boric font becomes youngest President of Chile
Gabriel Boric Font has been appointed as the new and 36th President of Chile. The 36-year-old leftist is the youngest leader to hold the office in Chile’s history. He succeeds Sebastián Piñera. Boric will hold the office for the period between 2022-2026.
As a student representative, Boric became one of the leading figures of the 2011–2013 Chilean student protests. Boric was twice elected to the Chamber of Deputies representing the Magallanes and Antarctic district, first as an independent candidate in 2013 and then in 2017 as part of the Broad Front, a left-wing coalition he created with several other parties.
Points to Remember:
- Chile Capital: Santiago;
- Chile Currency: Chilean peso.
Appointments
Ajay Bhushan Pandey appointed as chairman of the NFRA
Ajay Bhushan Pandey has been appointed as the chairman of the National Financial Reporting Authority (NFRA) for a period of 3 years. Pandey, a 1984-batch Maharashtra cadre IAS officer, retired as revenue secretary in February last year.
The Appointments Committee of the Cabinet (ACC) has approved the appointment of former revenue secretary ABP Pandey as the chairperson of NFRA for a period of three years from the date of assumption of charge or till the incumbent attains the age of 65 years.
The NFRA acts as an independent regulator for the auditing profession. The body has powers to review the financial statement of companies, can seek explanations and probe irregularities with respect to accounting and auditing issues. The setting up of the NFRA, envisaged under the Companies Act, 2013, was approved by the Cabinet in May 2018.
Economy
Morgan Stanely projects India’s GDP for FY23 at 7.9%
Rating Agency Morgan Stanely has projected India’s GDP growth forecast for 2022-23 (FY23) at 7.9%. This is 50 bps less than its earlier projection due to the impact of the Russia-Ukraine conflict on oil prices. Furthermore, Stanley raised the country’s retail inflation estimate to 6%, meanwhile, current account deficits are seen to widen by 3% of GDP.
India is affected through three key channels — higher prices for oil and other commodities; trade, and tighter financial conditions, influencing business/investment sentiment. Analysts at the brokerage also raised their inflation forecast to 6 per cent – the upper end of the tolerance band for the RBI – and flagged stagflation risks because of the ongoing events.
EPFO lowers the interest rate on PF deposits to 8.1% for 2021-22
The retirement fund body, Employees Provident Fund Organisation (EPFO) has slashed the interest rate on provident fund deposits to 8.10% for 2021-22. This rate is 0.4% lower than the previous year. The interest rate on PF deposits was 8.5% in 2020-21 and 2019-20.
This is the lowest in more than four decades. EPFO had credited 8.0% as interest rate in 1977-78. Since then, it has been either 8.25% or more.
The interest rate of 8.1% has been declared based on EPFO’s estimated income for the year at Rs 76,768 crore and this will leave the retirement fund body with a surplus of Rs 450 crore. The move is expected to hit the earnings of over sixty million EPFO subscribers.
Ranks and Reports
Global Investment in Digital Shopping 2021: India ranked 2nd
According to the London & Partners analysis of Dealroom. co-investment data, India is the second-largest global venture capital investment hub for digital shopping companies, growing by a whopping 175% from $8 billion in 2020 to $22 billion in 2021.
On a global scale, India came in second to the US last year, which attracted $51 billion in investment, followed by China at third with $14 billion and the UK at fourth with $7 billion.
Within India, Bengaluru comes out on top globally with $14 billion worth of Venture Capital (VC) investments in digital shopping in 2021, followed by Gurugram at No. 7 with $4 billion and Mumbai at No. 10 with $3 billion.
Ranking:
| Rank | Country | Investment |
| 1 | United States (US) | USD 51 billion |
| 2 | India | USD 22 billion |
| 3 | China | USD 14 billion |
| 4 | United Kingdom | USD 7 billion |
Awards
J&K Bank bagged National Award for SHG Bank Linkage
Union Minister of Rural Development, Giriraj Singh honoured the Jammu and Kashmir Bank (J&K Bank) with the “National Award for Outstanding Performance for FY 2020-21” in recognition of its best performance in Self-Help Group Bank Linkage. Kirti Sharma, Zonal Head, Delhi, J & K Bank, accepted the award on the bank’s behalf from Union Minister Giriraj Singh.
The award was presented during the event organized as a part of International Women’s Day (8th March 2022) at Vigyan Bhavan, New Delhi, Delhi. In line with the Bank’s commitment to extend banking facilities and financial services into the under-banked areas of Jammu and Kashmir, J&K Bank has commissioned 4 Business Units (BUs) in the region.
Schemes
India Water Pitch-Pilot-Scale Challenge’ launched by Minister Hardeep Singh
Under the Ministry’s Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0, Union Minister of Housing and Urban Affairs (MoHUA) and Petroleum and Natural Gas Shri Hardeep Singh Puri launched the ‘India WaterPitch-Pilot-Scale Start-up Challenge.’
This comes after the Hon’ble Prime Minister’s ceremonial launch of AMRUT 2.0 on October 1, 2021, stakeholder discussions in Lucknow (during MoHUA’s Azadi ka Amrit Mahotsav festivities), and Cabinet approval of the Mission on October 12, 2021.
At India Habitat Centre, MoHUA hosted the ‘India Water Pitch-Pilot-Scale Start-up Conclave,‘ a first-of-its-kind networking platform for entrepreneurs, young innovators, industry partners, incubators, and states/cities. During the conclave, Union Minister HUA announced a startup challenge on the MyGov platform.
Science and Technology
ISRO organized Young Scientist Programme “YUVIKA” for students
The Indian Space Research Organisation (ISRO) is organizing a special programme for school children called “YUva VIgyani KAryakram” (YUVIKA) or “Young Scientist Programme”.
Aimed at creating awareness about emerging trends in science and technology, this programme is expected to encourage more students to pursue research and a career in Science, Technology, Engineering and Mathematics (STEM).
Points to Remember:
- Chairman and Space Secretary of ISRO: Dr S Somanath;
- ISRO Headquarters: Bengaluru, Karnataka;
- ISRO established: 15 August 1969.
Sports
In Ahmedabad, PM inaugurates the 11th Khel Mahakumbh
The 11th edition of the Khel Mahakumbh was started on Saturday at Sardar Patel Stadium in Ahmedabad by Prime Minister Narendra Modi. PM Modi claimed that he appointed Khel Mahakumbh as Gujarat’s Chief Minister in 2010.
Khel Mahakumbh, which began in Gujarat in 2010 with 16 sports and 13 lakh participants, now includes 36 general sports and 26 para-sports. The 11th Khel Mahakumbh has received over 45 lakh registrations.
Due to COVID-19, we were not able to organize Khel Mahakumbh. Started in 2010 with 16 sports & 13 lakh participants, Khel Mahakumbh increased to 36 general sports & 26 para-sports in 2019.”
Books and Authors
Geetanjali Shree’s translation ‘Tomb of Sand’ nominated for the International Booker Prize
Author Geetanjali Shree’s translated Hindi novel “Tomb of Sand” is among 13 books long-listed for the International Booker Prize. It is the first Hindi language work of fiction to make it to the long list of the prestigious literary prize.
The book was originally published as ‘Ret Samadhi’ and translated into English by Daisy Rockwell. It will compete for the GBP 50,000 prize, which is split evenly between the author and translator.