Daily Current Affairs May 10 2022 | Latest News | Download PDF

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CURRENT AFFAIRS: IMPORTANT DAYS

World Thalassemia Day -8^th May

• People around the globe observe World Thalassemia Day on 8 May every year.
• The theme for this year is “Be Aware. Share. Care: Working with the global community as one to improve thalassemia knowledge.’’
• The International Thalassemia Day (ITD) 2022 theme is an open call to action.
• The day is observed to honour the struggles of patients suffering from thalassemia as well as to make people aware of the disease and its symptoms.
• The day has been celebrated since 1994, when the Thalassemia International Federation (TIF) declared 8 May as International Thalassemia Day.
• The president and founder of TIF, Panos Englezos established the day in the loving memory of his son George Englezos and all thalassemia patients who fought the disease and confronted the social stigma attached to it, setting an example for others.

CURRENT AFFAIRS: NATIONAL NEWS

Three-day Utkarsh Mahotsav organized by Central Sanskrit University begins in New Delhi:

• Jagat Prakash Nadda has inaugurated the three-day Utkarsh Mahotsav being organized by Central Sanskrit University in New Delhi.
• The government will leave no stone unturned to promote the Sanskrit language across the country
• The centralisation of three Sanskrit Universities reflects PM Modi’s strong commitment to preserving and promoting the Sanskrit language across the nation.
• The event is being jointly organised by the Central Sanskrit University, New Delhi, Shri Lal Bahadur National Sanskrit University, New Delhi and National Sanskrit University, Tirupati.
• The main theme of this Mahotsav is ‘Global Orientation of Sanskrit Studies in the New Educational Era’ Vice-Chancellors of 17 Sanskrit Universities, Scholars and a large number of students participated in the event.

Tata Power Solar bags Rs 5,500 crores order from SJVN:

• Tata Power Solar Systems has won India’s largest solar engineering procurement and construction (EPC) order for a 1 GW project worth Rs 5,500 crore from state-owned SJVN Ltd.
• EPC order has been designed keeping in mind the innovative use of ‘Make in India’ cells and modules.
• The project will be developed under the CPSU (central public sector undertaking) scheme of the Ministry of New & Renewable Energy and will be completed within 24 months.
• Covering 5,000 acres of land in Rajasthan, this project aims at reducing around 22,87,128 kg of carbon emission and is expected to generate around 2,500 million units annually.
• Tata Power Solar has always been a pioneer in the implementation and commissioning of such large scale renewable projects.
• With this win of 1GW (gigawatt), the company’s order booking crosses the Rs 12,000-crore mark with a cumulative portfolio of more than 3 GW for utility-scale renewables projects.

Adani Wilmar beats HUL to become the largest FMCG company in India:

• Adani Wilmar Ltd (AWL) has trounced Hindustan Unilever Ltd (HUL) from the position of largest FMCG company in India.
• This became public after the announcement of the Q4FY22 results of Adani Wilmar.
• While sharing its Q4FY22 results, Adani Wilmar reported operating revenue of ₹54,214 crores in FY22 whereas HUL’s yearly revenue stands at ₹51,468 crores in FY2021-22.
• Adani Wilmar’s major chunk of revenue has come from the edible oil business.
• The edible oil business has contributed around 84 per cent towards this Adani group’s top line and continued to drive AWL’s sales throughout FY22.
• In FY22, Adani Wilmar’s revenue from edible oil stands at ₹45,401 crores, logging around a 47 per cent YoY rise against ₹30,818 crore in FY21.

CURRENT AFFAIRS : INTERNATIONAL NEWS

PM Narendra Modi’s 3-day visit to Germany, Denmark, France

• Prime Minister Narendra Modi visited three European Countries- Germany, Denmark and France from 2nd to 4th May, 2022.
• Modi would be visiting these three countries for bilateral as well as multilateral engagements.

Key Highlights :

PM Modi in Germany :

• In Berlin, the Prime Minister will hold bilateral talks with E. Mr. Olaf Scholz, Federal Chancellor of Germany, and the two leaders will co-chair the 6th edition of the India-Germany Inter-Governmental Consultations (IGC).
• The biennial IGC is a unique dialogue format that also sees participation of several Ministers from both sides.
• This will be the Prime Minister’s first IGC with Chancellor Scholz, and also the first such Government-to-Government consultations of the new German government, which assumed office in December 2021.
• Both leaders would jointly address a Business Event. Prime Minister will address and interact with the Indian community in Germany.
• In 2021, India and Germany commemorated 70 years of the establishment of diplomatic relations and have been strategic partners since 2000.
• It will be an opportunity to enhance and intensify cooperation in a broad range of areas and for the two governments to exchange views on regional and global matters of mutual interest.

PM Modi in Denmark :

• Also the Prime Minister had an official visit at the invitation of the Prime Minister of Denmark, H.E. Ms. Mette Frederiksen.
• He will also participate in the 2nd India-Nordic Summit being hosted by Denmark.
• The bilateral component of the visit will include talks with PM Frederiksen as well as an audience with Her Majesty Queen Margrethe II.
• The Green Strategic Partnership was the first of its kind arrangement between India and Denmark.
• The visit would provide both sides an opportunity to review its progress, as well as examine ways to further expand our multifaceted cooperation.
• Also PM attend an India-Denmark Business Forum and also address members of the Indian diaspora.

About 2nd India-Nordic Summit :

• The 2nd India-Nordic Summit will focus on subjects like post-pandemic economic recovery, climate change, innovation and technology, renewable energy, the evolving global security scenario and India-Nordic cooperation in the Arctic region.
• The 1st India-Nordic Summit took place in 2018 in Stockholm.

PM Modi in France :

• On 04 May 2022, the Prime Minister briefly stopped over in Paris and metE. Mr. Emmanuel Macron, President of France.
• India and France are celebrating 75 years of their diplomatic relations this year and the meeting between the two leaders will set a more ambitious agenda of the Strategic Partnership.

About Germany :

• President: Frank-Walter Steinmeier
• Capital: Berlin
• Currency: Euro

About Denmark :

• PM : Mette Frederiksen
• Capital: Copenhagen
• Currency: Danish krone

About France :

• President: Emmanuel Macron
• Prime minister: Jean Castex
• Capital: Paris

CURRENT AFFAIRS : BANKING & FINANCE

Indian Bank introduces digital broking solution –  E-Broking

• Public sector Indian Bank has introduced digital broking solution E-Broking.
• The product was launched in association with the bank’s financial technology partner Fisdom.
• It allows customers to open a demat and trading account facility, in line with the digitalisation mission of the bank.
• It was a strategic step towards complete digitalisation of its offerings to customers.
• E-Broking, an instant and paper-less demat and trading account opening is integrated in the bank’s mobile banking application.
• The bank’s mobile banking application, IndOASIS would offer customers, a seamless experience from demat and trading account opening to discounted broking services backed by research based investment in the secondary market starting from equity, futures, options, and initial public offerings in a single platform.
• It will help the bank to increase its CASA (current account, savings account).
• It also enables its customers to invest in the ongoing LIC Initial Public Offering

About Indian Bank :

• Founded : 15 August 1907
• Headquarters : Chennai, Tamil Nadu, India
• MD & CEO : Shanti Lal Jain

About Fisdom :

• Founded : 2015
• Headquarters : Bangalore, Karnataka
• Co-founder and CEO: Subramanya S V

RBI Provides NoC for merger of Equitas SFB, Equitas Holdings

• Equitas Holdings Ltd (EHL) and Equitas Small Finance Bank Ltd (ESFBL) received no-objection from the Reserve Bank of India (RBI) on the voluntary amalgamation of both units.
• The merger is being effected to comply with the RBI norms on small finance banks, mandating the promoter to reduce the stake in the subsidiary to 40 per cent within five years of commencement of operations by the SFB (Small Finance Bank).
• EHL must divest its shareholding in its subsidiary Equitas Technologies P Ltd prior to the amalgamation.
• Besides, Equitas SFB will have to seek RBI approval for bringing Equitas Development Initiatives Trust (EDIT) and Equitas Healthcare Foundation (EHF) under its ambit prior to the scheme taking effect.
• According to RBI conditions laid down for SFBs in June 2016 and guidelines for licensing of SFBs in private sector in November 2014, equity shares of SFBs should be listed on recognised stock exchange(s) within three years from the date the net worth of SFB reaches Rs 500 crore.
• In case of ESFB, the applicable date for listing was September 4, 2019.
• However, it commenced its banking operations with a net worth of more than Rs 500 crore.
• Compliance with regard to listing was honoured through an Initial Public Offering (IPO) and listing of shares of ESFB on exchanges from November 2, 2020.
• The other condition requires that if a promoter holds more than 40 per cent stake in the subsidiary, it should be brought down to 40 per cent within five years from the date of commencement of banking operations.
• The applicable date is September 4, 2021.

About RBI :

• Founded: 1 April 1935
• Governor: Shaktikanta Das
• Headquarters: Mumbai, Maharashtra,India
• Deputy Governors : Mahesh Kumar Jain, M. Rajeshwar Rao,Michael Patra and T. Rabi Shankar

About Equitas Small Finance Bank Ltd :

• Founded :2016
• Headquarters : Chennai, Tamil Nadu, India
• MD & CEO : Vasudevan P N

CURRENT AFFAIRS: BUSINESS NEWS

The second phase of mandatory hallmarking of Gold Jewellery and Gold Artefacts to come into force from June 1:

• The second phase of the mandatory hallmarking of Gold Jewellery and Gold Artefacts will come into force on the 1st of June this year.
• The second phase will cover additional three caratages of gold jewellery and artefacts – 20 carats, 23 carats and 24 carats.
• Bureau of Indian Standards, BIS has successfully implemented Mandatory Hallmarking in 256 districts of the country with effect from 23rd June last year.
• More than three lakh gold articles are being hallmarked with the Hallmark Unique Identification every day.
• BIS has made a provision to allow a common consumer to get the purity of their hallmarked gold jewellery tested at any of the BIS recognized Assaying and Hallmarking Centres.
• The charges for testing gold jewellery up to four articles are fixed at two hundred rupees.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

M Narayanan appointed as part-time Chairman of CUB

• On May 4, 2022, City Union Bank Ltd announced that RBI has approved the appointment of M Narayanan (62), independent director, as the part-time Chairman of the Bank for two years.
• Narayanan succeeds R. Mohan, part-time Chairman of the Bank has laid down the office of Chairman of Board after completing his three year term on May 3, 2022.
• Moreover, R. Mohan will continue to act as an Independent Director of the Board of the Bank till June 27, 2022.

About M Narayanan :

• Narayanan is a graduate in Mathematics from Loyola College.
• He is a qualified chartered accountant, cost accountant and a system auditor.
• He has professional experience of more than two decades in various reputed corporates.
• On May 3, 2016, he was inducted into the Board as an Independent Director representing majority sector agriculture, rural economy, accountancy, and information technology.
• Currently he is practising as a chartered accountant.

About CUB :

• Founded : 1904
• Headquarters : Kumbakonam, Tamil Nadu, India
• Chairman : Mr. R. Mohan
• MD & CEO : Dr. N. Kamakodi

CURRENT AFFAIRS : AWARDS & HONORS

Dr Bina Modi, Chairperson, Modi Enterprises Receives the Woman Transforming India Award – IACC’s 6th Entrepreneur & Leadership Awards 2022

• At the Indo-American Chamber of Commerce(IACC) 6th Entrepreneur & Leadership Awards 2022, Dr Bina Modi, Chairperson of Modi Enterprises was adjudged the ‘Woman Transforming India’ Award.
• The Award was presented by the Honourable Union Minister for Civil Aviation, Shri JyotiradityaScindia.

About Dr Bina Modi :

• Dr Bina Modi is the President and Managing Director of the flagship company Godfrey Phillips India Ltd and Chairperson and Managing Director of Indofil Industries Limited.
• She has founded and built several successful brands including Bina Fashions, Ego Chain of Specialty Restaurants, along with luxury and lifestyle businesses.

Awards & Honors :

• She has been awarded the Women of the Decade in Business & Leadership 2018 by Women Economic Forum, prestigious Achiever’s Award in 2019.
• In 2020 she received an Award for Excellence in Business by the H.E President, Abdelfattah El Sisi, President of Egypt, at The Women Economic Forum 2020.

About IACC :

• Founded : 1968
• Headquarters : Mumbai, Maharashtra
• It is the apex bi-lateral Chamber synergizing India-US Economic Engagement.

Objective :

• To promote Indo-American business, trade and economic relations.
• IACC promotes bilateral trade, investment and technology transfer, facilitates business collaborations, joint ventures, marketing tie-ups and strategic alliances through a set of proactive business-oriented initiatives.

CURRENT AFFAIRS : MOU & AGREEMENTS

MHA and SECI sign MoU to realize India’s green energy initiative

• A Memorandum of Understanding (MoU) was signed between the Ministry of Home Affairs (MHA) and Solar Energy Corporation of India Limited (SECI) in New Delhi which envisages collaboration between the two parties for jointly undertaking installation of Solar Rooftop PV Power Plants.
• The MoU is a step ahead toward supply of green power to the country’s security forces and reinforces the government’s commitment to a sustainable future.

Additional Info :

• The Solar Energy Corporation of India (SECI) has estimated the total solar power potential of 68 Megawatts in the campuses of CAPFs & NSG.
• SECI, having expertise in the field of solar power projects, will either directly or through an agency or agencies selected through a competitive bidding process, support the MHA in implementing rooftop solar PV power plants.

About Ministry of Home Affairs :

• Union Minister : Amit Shah
• Minister of State : Nityanand Rai, Nisith Pramanik, Ajay Kumar Mishra

About SECI :

• Headquarters : New Delhi, Delhi
• SECI is a company of the Ministry of New and Renewable Energy, Government of India.
• It was registered as Section 25 under the Companies Act, 1956 (now Section 8 of the Companies Act, 2013) on 9 September 2011
• It is established to facilitate the implementation of the National Solar Mission (NSM).
• It is the only Central Public Sector Undertaking (PSU) dedicated to the solar energy sector.

NHAI Signs 2 MOUs in Lucknow to Enhance Highway Infrastructure

• As part of the ‘Azadi ka Amrit Mahotsav’ celebration, National Highways Authority of India (NHAI) holds a two-day regional conference in Lucknow with NHAI officials and other regional stakeholders from Uttar Pradesh East & West, Uttarakhand and Bihar.
• NHAI also signed 2 significant Memorandum of Understandings (MOU) that will contribute to enhance National Highway infrastructure and will contribute to sustaining the environment in Uttar Pradesh and other states.
• On the occasion Minister of State for Road and Highways Gen VK Singh, NHAI’s Chairperson Alka Upadhyaya and Manoj Kumar Singh, ACS, Govt of Uttar Pradesh were present.
• A first of its kind MOU was signed between NHAI and State Rural Livelihood Mission, Uttar Pradesh to involve the self-help groups in taking up the plantations along the National Highways.
• The initiative will be introduced in other states like Madhya Pradesh, Telangana, Uttar Pradesh, Bihar, Assam, Rajasthan, and Andhra Pradesh.
• The second MOU was signed between NHAI and AMMANN India Pvt. Ltd.
• Both entities have collaborated to create a talent pool of highly skilled workforce, fully trained on advanced technologies in Highway construction, rehabilitation, and maintenance.

About NHAI :

• Established : 1995 under the act 1988
• Headquarters : New Delhi, Delhi, India
• Chairman : Alka Upadhyaya
• The NHAI is a nodal agency of the Ministry of Road Transport and Highways.

About Ministry of Road Transport & Highways :

• Cabinet Minister : Nitin Gadkari
• Minister of State : General V. K. Singh

Boeing and Air Works collaborate on Indian Navy’s P-8I fleet

• Air Works, an Indian maintenance, repair, and overhaul (MRO) company is partnered with the Boeing Company in undertaking heavy maintenance checks on three Indian Navy P-8I long-range maritime patrol aircraft simultaneously at Air Works, Hosur for underscoring the success of the government’s Atmanirbhar Bharat (self-reliant India) campaign.
• Boeing India and Air Works intend to commemorate their collaboration at the Boeing India Aatmanirbharta in Defence conference being organized in New Delhi.
• The collaboration between Boeing and Air Works has enabled faster turnarounds and enhanced operational capability within India for key defence platforms.
• The partnership began with checks on the P-8I Poseidon aircraft, and has grown to include checks and MRO on the landing gear of the Indian Air Force’s Boeing 737 VVIP aircraft.
• Boeing’s strategic collaboration with Air Works was an important first step under the Boeing India Repair Development and Sustainment (BIRDS) hub launched in 2021.

About Airworks :

• Established :1951
• Headquarters : Gurugram, Haryana
• MD & CEO : Anand Bhaskar
• Air Works Group is India’s biggest independent MRO with a pan-Indian presence across 27 cities.
• It also undertakes modification and assembly of rotary-wing aircraft and is an Authorized Service Centre (ASC) for Bell and Leonardo helicopters

About Boeing :

• Founded : July 15, 1916
• Headquarters : Chicago, Illinois, U.S.
• President & CEO : Dave Calhoun
• Chairman : Larry Kellner
• The Boeing Company is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Navy to Acquire Spy Satellite GISAT-2 to Boost Capability in IOR

• The Indian Navy is looking to acquire a dedicated earth imaging satellite named Geo Imaging Satellite-2 (Gisat-2) as part of its modernisation and network-centric warfare and communications programme in the fiscal year.
• The satellite is expected to enhance the navy’s operational capabilities in the Indian Ocean region, which is strategically and geopolitically important, especially in the backdrop of increasing Chinese presence.

About Gisat-2 :

• The Gisat-2, is among 21 planned procurements, including some long-term acquisitions as per information from the ministry of defence (MoD).
• The capability development/modernisation of the navy is being undertaken in accordance with the long-term plans being put in place for the next decade.
• The Gisat-2 will be designed to provide near real-time images of large areas of region of interest at frequent intervals, which will help the navy not only in surveillance but also operations planning.
• Operating from a geostationary orbit (GEO), the satellite will facilitate near real-time observations under cloud-free conditions too.
• The navy has been allotted Rs 45,250 crore for modernisation under budget estimates for 2022-23.

CURRENT AFFAIRS: ACQUISITION AND MERGERS

L&T Infotech and Mindtree announce merger to create India’s 5th largest IT services provider:

• L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group have announced a merger that would create India’s fifth-largest IT services provider.
• The combined entity will be known as “LTIMindtree”.
• The Boards of Directors of Mindtree and L&T Infotech (LTI) at their respective meetings held and approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group.
• The proposed integration will see Mindtree and LTI join strengths to create an efficient and scaled up IT services provider exceeding USD 3.5 billion

CURRENT AFFAIRS: SPORTS NEWS

Nepal’s Kami Rita Sherpa climbs Mount Everest for the 26th time:

• A Nepali mountaineer identified as Kami Rita Sherpa has created history by scaling Mount Everest for the 26th time.
• The man has broken his own record that was set last year.
• He scaled Everest along the southeast ridge route.
• This time, he was leading 10 other Sherpa climbers.
• The climbing route, which is the most popular one, was pioneered by Edmund Hillary and Nepali Sherpa Tenzing Norgay in 1953.
• Kami Rita has broken his own record and established a new world record in climbing, Taranath Adhikari, director-general of the Department of Tourism in Nepal’s capital.
• The 52-year-old followed in his father’s footsteps and became a mountain guide, first summiting the peak in 1994.
• He has climbed Everest almost every year since.

Priyanka Mohite becomes the first Indian woman to climb five peaks above 8,000 metres:

• Priyanka Mohite from Satara in western Maharashtra has become the first Indian woman to scale five peaks above 8,000 metres after she climbed Mount Kanchenjunga.
• Priyanka (30), the recipient of the Tenzing Norgay Adventure Award 2020, est successfully completed her expedition to Mount Kanchenjunga (8,586 m), the third-high mountain on the planet.
• In April 2021, she had scaled Mt Annapurna (8,091 m), the 10th highest mountain peak in the world and had become the first Indian woman climber to achieve the feat.
• Priyanka has also climbed the world’s highest peak Mount Everest (8,849 m) in 2013, Mount Lhotse (8,516 m) in 2018, Mount Makalu (8,485 m) and Mount Kilimanjaro (5,895 m) in 2016.

CURRENT AFFAIRS: BOOKS AND AUTHOR

A New book Titled “INDO-PAK WAR 1971- Reminiscences of Air Warriors” released by Rajnath Singh:

• Rajnath Singh has released a book titled ‘INDO-PAK WAR 1971- Reminiscences of Air Warriors’.
• The book comprises 50 articles penned by the veterans who have shared their experiences in detail.
• The book was edited by Air Marshal Jagjeet Singh and Group Captain Shailendra Mohan.
• Defence Minister also paid tribute to Air Chief Marshal Pratap Chandra Lal (PC Lal).
• Air Chief Marshal Pratap Chandra Lal (PC Lal), served as the Vice Chief of the Air Staff during the 1965 war and had served as the 7th Chief of the Air Staff during the 1971 war.

Daily CA on May 10 :

• People around the globe observe World Thalassemia Day on 8 May every year.
• Jagat Prakash Nadda has inaugurated the three-day Utkarsh Mahotsav being organized by Central Sanskrit University in New Delhi.
• Tata Power Solar Systems has won India’s largest solar engineering procurement and construction (EPC) order for a 1 GW project worth Rs 5,500 crore from state-owned SJVN Ltd.
• Adani Wilmar Ltd (AWL) has trounced Hindustan Unilever Ltd (HUL) from the position of largest FMCG company in India.
• The second phase of the mandatory hallmarking of Gold Jewellery and Gold Artefacts will come into force on the 1st of June this year.
• Prime Minister Narendra Modi visited three European Countries- Germany, Denmark and France from 2nd to 4th May, 2022 for bilateral as well as multilateral engagements.
• Public sector Indian Bank has introduced digital broking solution E-Broking & the product was launched in association with the bank’s financial technology partner Fisdom, it allows customers to open a demat and trading account facility, in line with the digitalisation mission of the bank.
• Equitas Holdings Ltd (EHL) and Equitas Small Finance Bank Ltd (ESFBL) received no-objection from the Reserve Bank of India (RBI) on the voluntary amalgamation of both units.
• On May 4, 2022, City Union Bank Ltd announced that RBI has approved the appointment of M Narayanan (62), independent director, as the part-time Chairman of the Bank for two years.
• At the Indo-American Chamber of Commerce(IACC) 6th Entrepreneur & Leadership Awards 2022, Dr Bina Modi, Chairperson of Modi Enterprises was adjudged the ‘Woman Transforming India’ Award.
• A Memorandum of Understanding (MoU) was signed between the Ministry of Home Affairs (MHA) and Solar Energy Corporation of India Limited (SECI) in New Delhi which envisages collaboration between the two parties for jointly undertaking installation of Solar Rooftop PV Power Plants.
• As part of the ‘Azadi ka mrit Mahotsav’ celebration, National Highways Authority of India (NHAI) holds a two-day regional conference in Lucknow with NHAI officials and other regional stakeholders from Uttar Pradesh East & West, Uttarakhand and Bihar.
• Air Works, an Indian maintenance, repair, and overhaul (MRO) company is partnered with the Boeing Company in undertaking heavy maintenance checks on three Indian Navy P-8I long-range maritime patrol aircraft simultaneously at Air Works, Hosur for underscoring the success of the government’s Atmanirbhar Bharat (self-reliant India) campaign.
• The Indian Navy is looking to acquire a dedicated earth imaging satellite named Geo Imaging Satellite-2 (Gisat-2) as part of its modernisation and network-centric warfare and communications programme in the fiscal year.
• L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group have announced a merger that would create India’s fifth-largest IT services provider.
• A Nepali mountaineer identified as Kami Rita Sherpa has created history by scaling Mount Everest for the 26th time.
• Priyanka Mohite from Satara in western Maharashtra has become the first Indian woman to scale five peaks above 8,000 metres after she climbed Mount Kanchenjunga.
• Rajnath Singh has released a book titled ‘INDO-PAK WAR 1971- Reminiscences of Air Warriors’.