Daily Current Affairs 16 June 2022

RBI, Banking and Economy

• IBBI amends rules, creditors may get power to remove liquidator under IBC
  • The Insolvency and Bankruptcy Board of India (IBBI) has proposed a slew of changes to the liquidation regulations to iron out the inconsistencies and make the liquidator more accountable under the Insolvency and Bankruptcy Code (IBC).

• Blackstone pips Saudi's PIF to top slot in PE investments in India in 2021
  • According to the India Private Equity Report of 2022 released by Bain Capital with Indian Venture and Alternate Capital Association, US private equity giant Blackstone overtook Saudi Arabia’s sovereign wealth fund Public Investment Fund to claim the top slot among private equity and sovereign funds in terms of investment in India in 2021.

• GE arm buys 49% stake in Continuum's onshore wind project in Gujarat
  • GE Energy Financial Services, an arm of GE, has acquired a 49 per cent stake in Continuum Green Energy's 148.5 megawatt Morjar onshore wind project in Gujarat for an undisclosed sum.
  • This transaction marks GE EFS' first onshore wind equity investment in Gujarat through a structured preferred equity solution.
  • To-date, GE EFS has invested in several projects in India, enabling over one gigawatt (GW) of renewable energy projects across various states, including Madhya Pradesh, Rajasthan, Karnataka, Uttar Pradesh, Maharashtra, Andhra Pradesh and Gujarat.
  • Continuum, majority-owned by a global infrastructure fund managed by Morgan Stanley Infrastructure Inc, continues to own 51 per cent in the project.

• India's trade deficit hits record high of $24.3 bn in May: Govt data
  • According to the latest data released by the commerce ministry, India’s trade deficit hit a record $24.3 billion in May.
  • The previous highest monthly trade deficit was $22.91 billion in November 2021.

NATIONAL

• 3-year degree programme for Agnipath recruits
  • A day after the Cabinet approved the ‘Agnipath’ scheme for temporary recruitment to the armed forces, the Union Education Ministry said it will launch a three-year degree programme that will give credits to serving defence personnel who avail themselves of the scheme.
  • The aim is to “enhance the future career prospects of our ‘Agniveers’, and equip them for various job roles in the civilian sector and recognise the skill training received” by them during their defence tenure.

• Steel Minister Inaugurates First Six - lane Highway Road made of Steel Slag
  • Union Minister of Steel Sh. Ram Chandra Prasad Singh inaugurated the first six lane highway road made by using Steel Slag at Surat, Gujrat to connect the port with the city.
  • The road constructed by 100% use of steel processed slag is a real example of converting waste into wealth and improving sustainability of steel plants.

INTERNATIONAL

• Egypt, Israel step in to boost gas supply to EU
  • Egypt, Israel and the European Union signed a deal to increase liquified natural gas sales to EU countries.
  • Under the deal, the EU will help Egypt and Israel increase their gas production and exploration in their territorial waters.

STATES

• Delhi to Do away with archaic language in official papers
  • Lieutenant-Governor of Delhi V.K. Saxena has instructed government departments to do away with the colonial practice of using “archaic language” in official communication and documents.
  • The move would mean doing away with the use of Farsi in official communication and documentation.

• Justice B.S. Patil is Karnataka Lokayukta
  • Justice Bhimanagouda Sanganagouda Patil was sworn in as Karnataka Lokayukta.
  • He was a Upa Lokayukta since 2019 and in-charge of Karnataka Lokayukta ever since Justice P. Vishwanath Shetty retired in January 2022.

Reports & Indices

• World Competitiveness Index 2022
  • Switzerland-based Institute of Management Development (IMD) has released the World Competitiveness Index 2022.
  • Top Ranked Nations: Denmark has moved to the top of the 63-nation list from the third position last year, while Switzerland slipped from the top ranking to the second position and Singapore regained the third spot.
  • India’s Rank: India has jumped six positions to 37th rank on the annual World Competitiveness Index for the year 2022 on the back of better economic performance.

DEFENCE

• Short-Range Ballistic Missile, Prithvi-II, successfully tested
  • India successfully test-fired it’s indigenously developed nuclear capable Prithvi-II missile from a test range off the Odisha coast.
  • The surface-to-surface missile Prithvi II has a strike range of 350 km.
  • Prithvi-II is capable of carrying 500-1,000 kilogram of warheads and is powered by liquid propulsion twin engines.

SPORTS

• Hardik to lead India in Ireland T20Is
  • All-rounder Hardik Pandya will captain India in the two-match T20I series against Ireland to be played in Dublin on June 26 and 28.

• Dr Jaishankar and Shri Anurag Thakur inaugurate first-ever SAI Squash Courts
  • Union Minister for External Affairs Dr. S Jaishankar and Union Minister for Youth Affairs and Sports Shri Anurag Singh Thakur inaugurated the Squash Courts at the Major Dhyanchand Stadium in New Delhi.
  • These are the first-ever Squash courts opened by the Sports Authority of India in any centre across the country.