Weekly Current Affairs 16th to 22nd July 2022

RBI, Banking and Economy

• RBI, Bank Indonesia agree to expand cooperation in payment systems
  • The Reserve Bank of India and Bank Indonesia signed a Memorandum of Understanding (MoU) to expand cooperation in payment systems, digital financial innovation, and anti-money laundering and combating the financing of terrorism (AML-CFT).

• Survey on Remittances for the year 2020-21: RBI
  • To analyse the factors contributing to the resilience of remittances and to understand to what extent the pandemic has changed the underlying dynamics of remittances flow, the Reserve Bank of India conducted the fifth round of the Survey on Remittances for the year 2020-21.

• Outward remittances by domestic residents was at $2.03 billion in May 2022
  • According to Reserve Bank of India (RBI) data, outward remittances by domestic residents were stable sequentially at $2.03 billion in May 2022 with close to $1 billion being spent on travel.
  • Total remittances rose by 61.8 per cent year-on-year (YoY) to $2.03 billion in May 2022 from $1.25 billion in May 2021.

SEBI and FINANCIAL AWARENESS

• Stock exchanges, persons dealing in securities market to pay 18 per cent GST on SEBI’s fee
  • All the market infrastructure institutions, companies who have listed/are intending to list their securities, other intermediaries and persons who are dealing in the securities market will need to pay the fees and other charges payable to SEBI shall be subject to GST (Goods and Services Tax) at the rate of 18 per cent with effect from July 18, 2022.

• SEBI comes out with directive for sub-KYC user agency for Aadhaar authentication
  • SEBI recently issued directives for sub-KYC user agencies to provide Aadhaar authentication services to their clients for the purpose of know your customer (KYC).
  • This comes after the government last week notified 155 entities as sub-KUAs (KYC user agencies) to use Aadhaar authentication services of the UIDAI (Unique Identification Authority of India).

• SAT relief for news broadcaster NDTV
  • The Securities Appellate Tribunal (SAT) has provided partial relief to news broadcaster New Delhi Television (NDTV) and its promoters against orders passed by the Securities and Exchange Board of India (SEBI) for alleged violation of Takeover Code and disclosure regulations.
  • The tribunal also slashed penalties imposed by the market regulator. In the case involving violation of disclosure norms, SAT reduced the Rs 5 crore penalty imposed on NDTV to just Rs 10 lakh.

NABARD & AGRICULTURE

• e-NAM platform linked to private agri-services providers
  • The government announced integration of trading, transportation, logistics, warehousing, assaying, packaging, weather forecast and fintech services provided by 41 private entities with its electronic National Agriculture Market (e-NAM).

• India’s Agri And Processed Food Products Exports Up By 14% To $5,987 Mn
  • The Ministry of Commerce and Industry said that the exports of agricultural and processed food products rose by 14 per cent in the first three months of the current financial year 2022-23 (April-June) compared to the corresponding period of FY 2021-22.

• ITC launches super app 'ITCMAARS' to boost agricultural business
  • Diversified conglomerate ITC has launched its super app Meta Market for Advanced Agricultural Services (ITCMAARS) to provide agricultural and allied services to farmers on a digital platform.
  • The app has been launched in seven states with over 40,000 farmers grouped in 200-plus farmer produce organisations (FPOs) under four value chains – wheat, paddy, soya, and chilli. But the ultimate aspiration is to take it to 4,000 FPOs and 10 million farmers and 20 value chains.

NATIONAL

• Department of Consumer Affairs launches ‘Jagriti’, a mascot
  • The Department of Consumer Affairs (DoCA) has launched “Jagriti”, a mascot for empowering consumers and generating awareness of their rights.
  • The “Jagriti” mascot will be used to generate consumer awareness about various themes of the Department.
  • Jagriti mascot shall be shown along with tagline “Jago Grahak Jago” in all its media campaigns.

• KVIC launches Knowledge Portal for Khadi by the Center of Excellence for Khadi
  • The Knowledge Portal for Khadi is a platform developed by the Center of Excellence for Khadi to provide design directions to the Khadi institutions.
  • The portal was inaugurated on 14th July 2022.

• 'HarGharTiranga' campaign
  • Union Home and Cooperation Minister Shri Amit Shah interacted with Chief Ministers, Lt. Governors and Administrators of States and Union Territories through video conferencing on the 'HarGharTiranga' campaign under AzadiKaAmritMahotsav.
  • The'HarGharTiranga' is a programme to take the spirit of patriotism to the highest level into the hearts and minds of the people.

INTERNATIONAL

• Iran, Belarus to be SCO members
  • Iran and Belarus are likely to be the two newest additions to the Shanghai Cooperation Organisation (SCO).
  • India will host the SCO summit next year.

STATES

• Kerala Becomes First State to have Its Own Internet Service K-Fon
  • Kerala is now the first and only state in the country to have its own internet service.
  • The K-Fon network will function as a strong foundation for all government-to-government, government-to-citizens and business-to-citizens interactions.

• Uttarakhand CM launches Uttarakhand Police, e-FIR mobile apps
  • Uttarakhand Chief minister Pushkar Singh Dhami launched the Uttarakhand police app and e-FIR service.
  • The police app is an integrated version of five online services such as Gaura Shakti, traffic eye, public eye, Meri Yatra and Lakshya Nasha Mukt Uttarakhand, provided by the State police.

• Maharashtra government gives approval to renaming of cities
  • The Maharashtra Cabinet led by Chief Minister Eknath Shinde gave its approval to rename Aurangabad and Osmanabad as Chhatrapati Sambhajinagar and Dharashiv, respectively.
  • The decision to rename these cities was taken at the last Cabinet meeting of the previous Maha Vikas Aghadi (MVA) government on June 29.

REPORTS AND INDEXES

• National Institutional Ranking Framework (NIRF) 2022
  • The Ministry of Education’s National Institutional Ranking Framework (NIRF) 2022 was launched recently.
  • This is the seventh consecutive edition of NIRF.
  • It ranks colleges, universities and research institutions and also provides an overall ranking of all of them combined.

• Life insurance industry in India to grow at 10.3% annually till 2026: GlobalData
  • GlobalData, a leading data, and analytics company forecasts that the life insurance industry in India is set to grow at a compound annual growth rate (CAGR) of 10.3% from Rs 7.0 trillion ($92.3 billion) in 2021 to Rs 11.4 trillion ($150.6 billion) in 2026, in terms of gross written premiums,.

• NASSCOM PGA Labs Tech Start-Ups: Quarterly Investment Factbook
  • NASSCOM and PGA Labs co-published a report “Tech Start-ups: Quarterly Investment Factbook”.
  • It is NASSCOM’s quarterly funding update on Tech start-ups highlighting key trends and facts about the Indian tech start-up ecosystem during the quarter.

SCIENCE AND TECHNOLOGY

• Cargo Dragon supply mission to the ISS launched
  • SpaceX launched its 25th cargo mission to the International Space Station (ISS) on July 14,2022, carrying more than 5,800 pounds (2,630 kilograms) of supplies, along with equipment for NASA climate change research.

• Asteroid 2022 KY4 headed towards Earth
  • A massive asteroid, almost double the size of the statue of Liberty, made its closest approach to the Earth on July 17, 2022.
  • The asteroid named Asteroid 2022 KY4 is not expected to hit the Earth.

DEFENCE

• US House approves CAATSA waiver for India over S-400 deal with Russia
  • The US House of Representatives has passed by voice vote a legislative amendment seeking to exempt India from a law that sanctions nations for purchasing military hardware from Russia.
  • Authored and introduced by Indian-American Congressman Ro Khanna, the amendment wants the Biden administration to use its authority to exempt India from the Countering America’s Adversaries Through Sanctions Act (CAATSA).

• Navy decommissions Sindhudhvaj
  • The Navy’s Kilo class submarine INS Sindhudhvaj was decommissioned from service at Visakhapatnam after 35 years in service.
  • The Navy now has 15 conventional submarines in service.

• PM Modi Addressed Naval Innovation and Indigenisation Organisation Seminar 'Swavlamban'
  • Prime Minister Narendra Modi addressed the NIIO (Naval Innovation and Indigenisation Organisation) Seminar ‘Swavlamban’ and unveil ‘SPRINT Challenges’, an initiative to give fillip to usage of indigenous technology in the Indian Navy.

EVENTS

• DAY-NRLM, MoRD organized “Udyamita Pakhwara” from 1st to 15th July, 2022
  • Deendayal Antyodaya Yojana - National Rural Livelihood Mission (DAY-NRLM) of the Ministry of Rural Development organized “Udyamita Pakhwara” across the Country from 1st to 15th July, 2022.
  • The objective of this Udyamita Pakhwara was to highlight the importance of enterprise growth and entrepreneurship development under non-farm livelihoods in rural areas across the country.

AWARDS AND REWARDS

• Prestigious J.C. Daniel Award for filmmaker K.P. Kumaran
  • Filmmaker K.P. Kumaran has been chosen for the prestigious J.C. Daniel Award for 2021.
  • The award, conferred by the Kerala government annually in recognition of an individual’s contributions to Malayalam cinema, carries a purse of ₹5 lakh, a statuette, and a citation.
  • Mr. Kumaran was one of the first filmmakers from the State to win an international award when his short film The Rock fetched the gold medal at the Expo film festival in Tokyo in 1972.

SPORTS

• Zouhaier Sghaier Ranking Series wrestling tournament
  • Olympics bronze medallist Sakshi Malik won a bronze medal in the women’s 62kg category at the Zouhaier Sghaier Ranking Series wrestling tournament in Tunis, Tunisia.
  • Sakshi, the only Commonwealth Games-bound Indian woman wrestler competing in the event, lost to Germany’s Luisa Niemesch.

• Murali Sreeshankar becomes 1st Indian male long jumper to qualify for finals
  • Murali Sreeshankar became the first Indian male long jumper to qualify for World Athletics Championships finals.
  • Anju Bobby George was the first Indian to make it to the World Championships long jump finals and first to win a medal -- bronze in 2003 edition in Paris.

• Singapore Open Super 500 trophy
  • Double Olympic medallist P.V. Sindhu lifted the Singapore Open Super 500 trophy outwitting China’s Wang Zhi Yi in an intense women’s singles final.
  • Indonesia’s Anthony beat Japan’s Kodai Naraoka in the men’s final.