Current Affairs in English

19th and 20th March 2022 Current Affairs in English

Important Days

World Sleep Day 2022 observed on 18th March

World Sleep Day is observed on the Friday before the March equinox every year to highlight the importance of quality sleep. This year, it falls on March 18. World Sleep Day is a celebration of sleep and a call to action on important issues related to sleep, including medicine, education, social aspects, and driving.

‘Quality Sleep, Sound Mind, Happy World’ is the theme for World Sleep Day this year to raise awareness about the impact of sleep on the mind and body.

India’s Ordnance Factories’ Day: 18 March

The Ordnance Factories’ Day is observed on the 18th of March every year. The production of India’s oldest Ordnance Factory, which is at Cossipore of Kolkata, was started on the 18th of March, 1802. OFB is the 37th largest defense equipment manufacturer in the world, 2nd largest in Asia, and the largest in India.

The day is celebrated by displaying the rifles, guns, artillery, ammunition, etc in exhibitions all over India. The celebrations start with a parade and the exhibition will also display the photographs of various mountaineering expeditions.

OFB was founded in 1775 and its Headquarters is in Ayudh Bhawan, Kolkata. OFB consists of 41 Ordnance Factories, 9 Training Institutes, 3 Regional Marketing Centres, and 5 Regional Controllerates of Safety, which are spread all over India.

Global Recycling Day 2022 celebrated on 18th March

International Day of happiness is observed every year around the world on March 20. The United Nations started celebrating this day in 2013, but the resolution for the same was passed on July 12, 2012. The resolution was initiated by Bhutan which shed the light on the importance of National Happiness.

The theme for Happiness Day 2022 is Keep Calm, Stay Wise and Be Kind. Keeping cool and calm in every possible situation is the key to happiness and satisfaction. Staying wise in tough situations lead to wiser steps and success. Being Kind to others in their needs, mistakes and errors will help them grow and also make them feel better.

Bhutan initially prioritized the value of National Happiness over Nationaal Income in the 1970s. Bhutan is known for adopting the goal of Gross National Happiness over Gross National Product at the 66th General Assembly.

National

Karnataka govt developed Dishaank app to ensure easy access to land records 

The Survey Settlement and Land Records (SSLR) unit of Karnataka’s revenue department is ensuring easy availability of original land records through an app called Dishaank.

The Dishaank app is developed under the Geographical Information System (GIS) program of the Karnataka State Remote Sensing Applications Center (KSRSAC).

The KSRSAC provides satellite data to agencies such as the SSLR unit for innovative use. Dishaank leverages Karnataka’s decision to digitize land records under the Bhoomi project.

Useful Points:

  • Karnataka Capital: Bengaluru;
  • Karnataka Chief Minister: Basavaraj S Bommai;
  • Karnataka Governor: Thawar Chand Gehlot.

Appointments

Prashant Jhaveri joining “Flipkart Health+ as CEO 

Flipkart Health+ announced the appointment of Prashant Jhaveri as its new CEO. He will be in charge of Flipkart’s entry into India’s fast-growing healthcare sector. Jhaveri was the CEO of Apollo Health and Lifestyle Limited and MediBuddy before joining Flipkart Health+. Earlier in his career, he worked with Medi Assist Group as the chief business officer.

With the right technology solutions and customer value propositions, there is a huge opportunity to provide healthcare to the most remote corners of India.

Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip are part of the Flipkart Group, which is one of India’s largest digital commerce enterprises. In addition, the Group owns a majority stake in PhonePe, one of India’s most popular payment apps.

Agreements

Madras’ IIT and RBI Innovation Hub make ties with Boost fintech startups

IIT Madras Incubation Cell (IITMIC) and RBI Innovation Hub (RBIH), a wholly-owned subsidiary of the Reserve Bank of India, inked a Memorandum of Understanding (MoU) to collaborate in establishing the ecosystem needed to support and expand fintech businesses in India. The two organizations will collaborate to give early-stage entrepreneurs with unique and disruptive ideas with incubation support and speed their scale-up journey.

RBIH will consider select startups incubated at IITM Incubation Cell for co-incubation from time to time, and they will receive strategic and operational guidance, as well as training and mentoring sessions from RBIH leadership and domain experts, market access, and connections to a larger ecosystem of startups, vendors, investors, and other resources.

Banking

Co-branded credit cards with Emirates Skywards launched by ICICI Bank

In collaboration with Emirates Skywards, the loyalty program of Emirates, and flydubaiICICI Bank created the ‘Emirates Skywards ICICI Bank Credit Card’. Customers can earn reward points – known as Skywards Miles – on travel, lifestyle, and everyday purchases with the collection of cards. These cards, according to the private sector lender, offer best-in-class rewards and advantages and are a perfect fit for affluent consumers who travel abroad frequently.

ICICI Bank is the first Indian bank to join together with Emirates Skywards to offer the exclusive credit card program in India.

The Emirates Skywards ICICI Bank Emerald Credit Card, Emirates Skywards ICICI Bank Sapphiro Credit Card, and Emirates Skywards ICICI Bank Rubyx Credit Card are all Visa-powered co-branded credit cards.

SBI to set up Innovation, Incubation, and Acceleration Centre at Hyderabad 

The State Bank of India (SBI) will set up an Innovation, Incubation, and Acceleration Centre (IIAC) at Hyderabad, Telangana which will be operational in six to nine months of on-boarding a consultant.

This Centre will be the bank’s in-house capability to enhance its current performance and drive higher top-line growth through innovation. It will help the bank to develop a set of technologies, knowledge, and skills for the introduction of new products and services. It will act as a central body to govern and drive fin-tech partnerships and implement change across the bank.

Useful Points:

  • State Bank of India Founded: 1 July 1955;
  • State Bank of India Headquarters: Mumbai;
  • State Bank of India Chairman: Dinesh Kumar Khara.

Mahila Money, Visa, and Transcorp launched Prepaid Card for Women Entrepreneurs 

The digital payments network Mahila Money, Visa, and Transcorp Prepaid Payment Instruments (PPI) have launched Mahila Money Prepaid Card to help women entrepreneurs easily collect payments, loans and get incentives for transactions.

The prepaid card has been designed keeping in mind the needs of digital entrepreneurs, small business owners, and women. The card is for community members who want the convenience of a bank account with added flexibility, safety, and convenience. This collaboration will pave the way to economic freedom and financial inclusion for millions of women entrepreneurs.

Useful Points:

  • Transcorp International Ltd Established: 1994;
  • Transcorp International Ltd Headquarters: New Delhi, Delhi;
  • Transcorp International Ltd Managing Director: Gopal Sharma.

Ranks and Reports

Hurun Global Rich List 2022: Elon Musk Tops 

SpaceX and Tesla founder Elon Musk has bagged the top position on the 2022 M3M Hurun Global Rich List, with a total net worth of $205 billion. The 2022 M3M Hurun Global Rich List is published by research and luxury publishing group Hurun India in association with realty firm M3M.

Amazon.com Inc executive chairman Jeff Bezos ranked second with $188 billion in net worth. With a net worth of $153 billion, Bernard Arnault, the chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury-goods company, ranked third.

From India, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani was the only Indian to feature in the top 10 list of  2022 Hurun Global Rich List’ to emerge as India’s as well as Asia’s richest man. Ambani occupied the ninth rank globally with a net worth of $103 billion.

Deloitte’s Global Powers of Retailing 2022: Reliance Retail ranked 56th

According to the global consulting firm Deloitte’s report titled “Global Powers of Retailing 2022: Resilience Despite Challenges”, The Indian brand, Reliance Retail, ranked 56th on the Top 250 list based on the retail revenue growth for FY2020.

Walmart Inc., an American multinational retail corporation, tops the list, followed by Amazon, Inc., Costco Wholesale Corporation, Schwarz Group, and The Home Depot, Inc.

The top 5 fastest-growing retailers in FY2019 were Coupang of South Kore a(1st), Reliance Retail Limited of India (2nd), Wayfair Inc of United States (3rd), Mobile World Investment Corporation of Vietnam (4th), and A101 Yeni Mağazacılık A.S from Turkey (5th).

Economy

Moody’s lowers India’s GDP forecast for CY22 to 9.1%

Rating agency Moody’s has revised downwards the economic growth forecast of India by 40 basis points to 9.1 percent in the Calendar Year 2022 (CY2022), due to adverse effects of the Russia-Ukraine conflict on the global economy.

Earlier in February 2022, Moody’s estimated India’s GDP in CY2022 to be 9.5 percent. Moody has projected India’s GDP growth forecast for the Calendar Year (CY) 2023 at 5.4 percent.

Moody’s, in a statement, said India is particularly vulnerable to high oil prices given that it is a large importer of crude oil. Because the country is a surplus producer of grain, agricultural exports will benefit in the short term from high prevailing prices.

Awards

Miss World 2021: Poland’s Karolina Bielawska crowned

Karolina Bielawska from Poland has won the title of Miss World 2021. She was crowned by 2019 Miss World Toni-Ann Singh of Jamaica. She beat the USA, Indonesia, Mexico, Northern Ireland and Cote d’Ivoire to clinch the coveted title.

Indian-American Shree Saini from the United States bagged the first runner-up title, followed by Olivia Yace from Cote d’Ivoire. The 70th edition of the Miss World international beauty pageant was held in San Juan, Puerto Rico.

Miss World 2019 Toni-Ann Singh performed ‘The Prayer’ during the 70th Miss World pageant to express solidarity with Ukraine amid the Russia-Ukraine crisis. Femina Miss India World 2020 Manasa Varanasi represented India at the Miss World 2021. Manasa Varanasi reached the Top 13 contestants but could not make it to the Top 6 finalists.

Summits and Conferences

36th edition of the International Geological Congress to be held in New Delhi

On a virtual platform, the 36th International Geological Congress (IGC) will be placed here on March 20-22, 2022, with the topic Geosciences: The Basic Science for a Sustainable Future. The 36th International Geophysical Congress is a collaboration between the Ministries of Mines and Earth Sciences, the Indian National Science Academy, and the Science Academies of Bangladesh, Nepal, and Sri Lanka.

India, along with its regional allies, submitted a candidacy to host the 36th International Geological Congress in India in 2020 at the 34th International Geological Congress in Brisbane in 2012. The bid was won by India.

On the occasion of the 36th IGC, three commemorative Postage Stamps will be issued, as well as a First Day Cover. India held the 22nd session of the IGC, which was the first IGC on Asian land, 58 years ago.

Obituary

American Astrophysicist Eugene Parker passes away

American Astrophysicist Eugene Newman Parker, who contributed to solar physics, has passed away at the age of 94. Eugene Parker witnessed the launch of National Aeronautics and Space Administration (NASA)’s Parker Solar Probe in 2018, the first NASA mission named after a living person, and became the first person to witness the launch of a spacecraft named after them.

Parker is a visionary in the field of heliophysics, which focuses on the study of the sun and other stars & he is well known for his theory on the existence of solar wind, a supersonic flow of particles of the sun’s surface. He virtually created the field of heliophysics in the 1950s.


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