Daily Current Affairs September 17 2022 | Latest News | Download PDF

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CURRENT AFFAIRS: NATIONAL NEWS

NITI Aayog hosts first Shoonya Forum to commemorate first-anniversary Shoonya Campaign

The NITI Aayog (National Institution for Transforming India) hosted the first Shoonya Forum to commemorate the first anniversary of India’s zero pollution e-mobility campaign in Delhi.
G20 Sherpa Amitabh Kant, NITI Aayog CEO Param Iyer, MyGov CEO Abhishek Singh, Delhi Government Principal Secretary Ashish Kundra, and Mahindra Electric Mobility CEO Suman Mishra attended the event.

About Shoonya Campaign :

Shoonya initiative promotes zero-pollution delivery vehicles by working with consumers and the industry.

Aim :

To accelerate the adoption of electric vehicles in the urban deliveries segment and create consumer awareness about the benefits of zero-pollution delivery.
Urban freight vehicles account for 10% of freight transportation-related carbon dioxide emissions in India, and these emissions are expected to grow by 114% by 2030.
EVs emit no tailpipe emissions, which can contribute immensely to improved air quality.
The EVs emit 15-40% less carbon dioxide (CO2) than internal combustion engine counterparts and have lesser operational costs during the manufacturing process.
During the event, the National Programme on Advanced Chemistry Cell (ACC) Energy Storage (Part III) report was also launched.

About the report :

The report highlights that India’s $2.5-billion Production-Linked Incentive (PLI) scheme for Advanced Chemistry Cell (ACC) energy storage is critical for meeting the projected cumulative battery demand of 106–260 GWh by 2030 to successfully realize the country’s vision for EV adoption and grid decarbonization

About NITI Aayog :

Established: 1 January 2015
Headquarters: New Delhi, Delhi, India
Chairperson: Shri Narendra Modi (Prime Minister of India)
Vice Chairperson : Suman Bery
CEO: Parameswaran Iyer

Padmaja Naidu Himalayan Zoological Park in Darjeeling was named the best zoo in India

The Padmaja Naidu Himalayan Zoological Park (PNHZP) of Darjeeling, West Bengal (WB) has been recognized as the best zoo in India.
As per the list, the Arignar Anna Zoological Park in Chennai has secured the second position, followed by the Sri Chamarajendra Zoological Gardens in Mysore, Karnataka.
While Kolkata’s Alipore Zoological Garden has secured the fourth position.
The ranking list was released by the Central Zoo Authority (CZA) during the zoo directors’ conference held at Bhubaneswar in Odisha.
Darjeeling Zoo scored the highest percentage of 83% to rank first

About PNHZP :

Padmaja Naidu Himalayan Zoological Park (also known as Darjeeling Zoo) was established on August 14, 1958.
The park is internationally recognized for its breeding and conservation programs of endangered animal species of the eastern Himalayas, including the Snow Leopard and the Red Panda.

CURRENT AFFAIRS: BANKING & FINANCE

Karnataka Bank becomes part of Khajane-II

Karnataka Bank Ltd has become part of the Karnataka Government’s integrated financial management system (IFMS) Khajane-II (K2) for implementing a single nodal agency (SNA) account system for Centrally-sponsored schemes.
The Bank will help in implementing various sponsored schemes by the Government for the disbursement of cash benefits to the targeted beneficiaries via direct credit to their bank accounts in a safe, secure & speedier manner.
The bank, through its technology and digital-led solutions, will continue to engage and partner with the Government of Karnataka for implementing its various initiatives towards the welfare of the public”.

About Karnataka Bank :

Founded: 18 February 1924
Headquarters: Mangaluru, Karnataka, India
MD & CEO: Mahabaleshwara M. S

Fitch cuts India FY23 GDP growth forecast to 7%

Global rating agency Fitch has lowered India’s economic growth forecast for fiscal 2022-23 (FY23) as measured by gross domestic product (GDP) to 7% from its June 2022 estimate of 7.8%.
It now expects the GDP to slow further to 6.7% in FY24 as compared to its earlier forecast of 7.4%.
The (Indian) economy recovered in 2Q22 with a growth of 13.5% year-on-year (y-o-y), but this was below our June expectation of an increase of 18.5% y-o-y.
Seasonally adjusted estimates show a 3.3% quarter-on-quarter (q-o-q) decline in 2Q22.

Global growth :

Fitch now expects world GDP to grow by 2.4% in 2022 revised down by 0.5 percentage points (ppt) since the June 2022 assessment & by just 1.7% in 2023, a cut of 1 ppt.
The eurozone and the United Kingdom are now expected to enter recession later this year and Fitch forecasts that the US will suffer a mild recession in mid-2023.
The United States (US) growth has also been revised down to 1.7% in 2022 and 0.5% in 2023, revisions of 1.2pp and 1.0pp respectively.

Nippon Life India Asset Management & DWS join hands to launch a European-listed Indian Government Bond ETF

Nippon Life India Asset Management (Singapore) Pte. Ltd (a wholly owned subsidiary of Nippon Life India Asset Management Limited) has collaborated with DWS to provide portfolio management and investment advisory services to the European-listed Indian Government Bond Exchange Traded Funds (ETF).

About the Partnership :

Through this collaboration, the clients of DWS Group will access the attractive Indian bond market.
DWS is continuously developing its range of ETFs to meet the ever-evolving needs of investors.

Key Highlights :

The market size for securities issued by the Indian government is more than USD 1 trillion as of August 2022.
This ranks it between the corresponding markets in Canada and Spain.
India’s treasury market is only second to China’s in the emerging market local currency arena

About FAR :

The Fully Accessible Route (FAR) is a separate channel established by the Reserve Bank of India (RBI), in consultation with the GoI, through which eligible investors can invest in specified Government securities without any investment ceilings.
The instruments comprise FAR-eligible fixed-rate and zero-coupon bonds.

Note :

Executive Director & CEO of Nippon Life India Asset Management Limited: Sundeep Sikka

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Shri Prakash Chand appointed as India’s ambassador to Eritrea

Senior diplomat Shri Prakash Chand has been appointed as the next ambassador of India to the State of Eritrea.
Before Shri Prakash Chand, Shri Subhash Chand was the Ambassador of India to Eritrea.

About Shri Prakash Chand :

Shri Chand, a 2004 Indian Forest Service (IFS) officer
He served in various capacities in the Ministry of External Affairs, New Delhi as well as in the Indian Missions in Uganda, the UK, Egypt, China, and Austria.
He served as First Secretary (Consular) in the Philippines from 2010 to 2014.
He worked as Deputy Chief of Protocol (Conferences/Facilities) from 2008 to 2010 in New Delhi
He has worked as Director (Consular) in the Consular, Passport, and Visa Division in the Ministry of External Affairs (MEA).
Chand has been the Consul General of India in Indonesia’s Bali since 2019.

About Eritrea :

President: Isaias Afwerki
Capital: Asmara
Currency: Eritrean nakfa

Shri A N Shamseer elected as 24th speaker of Kerala assembly

Thalassery MLA Shri A N Shamseer was elected as the 24th Speaker of Kerala Legislative Assembly after defeating UDF MLA Anwar Sadath by 56 votes in the election.
Shamseer replaced Shri M B Rajesh, who became Minister of excise and Local Self Government departments.
In the election, Shamseer got 96 votes while opposition Congress candidate Anwar Sadath received 40 votes in the 140-member Assembly.
Deputy Speaker Chittayam Gopakumar headed the election procedures.

About Shri A N Shamseer :

Shri A N Shamseer was born on 24 May 1977, in Thalassery, Kannur, Kerala
He has represented Thalassery State Assembly Constituency since 2016.
He was the former President of the Kerala lobby of the Democratic Youth Federation of India (DYFI).

CURRENT AFFAIRS: ACQUISITIONS & MERGERS

LIC cuts stake in Glaxo Pharma to 4.357%

Life Insurance Corporation of India (LIC) has diluted its stake in GlaxoSmithKline Pharmaceuticals from 6.402% to 4.357%.
In a disclosure to the stock exchanges, LIC has sold about 34.20 lakh shares or 2.045% of its holding in the global pharma major during September 2018-22 period.
The stake sale took place at an average price of ₹1,549.40
Shares of insurance coverage mainly closed 1% decrease at ₹663.20, whereas those of Glaxo slid 0.55% at ₹1,409.90.
According to the June-end shareholding pattern, besides LIC, General Insurance Corporation of India (GIC), holds a 1.42% stake in GSK Pharma.

About LIC :

Founded: 1 September 1956
Headquarters: Mumbai, Maharashtra, India
Chairman: M R Kumar
Managing Directors: B C Patnaik, Smt. Ipe Mini, Siddharth Mohanty, Rajkumar

Google to acquire cybersecurity firm Mandiant for $5.4 billion

Google Cloud Chief Executive Officer (CEO) Thomas Kurian announced that Google has completed the $5.4 billion acquisition of cyber-security firm Mandiant.
Mandiant will join Google Cloud to help organizations improve their threat, incident, and exposure management.
Mandiant is known for unearthing the SolarWinds hack that shook the world.
Several big companies, including tech giants like Intel, Cisco, VMware, and Nvidia, suffered part of the SolarWinds hack allegedly orchestrated by Russia-backed cybercriminals.
Google Cloud will retain to hold the Mandiant brand & continue Mandiant’s mission to make every organization secure from cyber threats and confident in their readiness

About Mandiant :

Founded: 2004
Headquarters: Reston, Virginia, U.S
CEO: Kevin Mandia

CURRENT AFFAIRS: SUMMITS & CONFERENCES

Shri Narayan Rane chairs the 18th meeting of the National Board of MSME (NBMSME)

Union Minister of Micro, Small & Medium Enterprises (MSME), Shri Narayan Rane headed the 18th meeting of the National Board of MSME (NBMSME).
Shri Rane inaugurated the portal for the scheme for the promotion of MSMEs in the North East Region (NER) and Sikkim.

Key Highlights :

He launched the integration of Udyam and NCS portals, which was announced in Budget 2022.
The integration of the portal of Udyam with that of the National Career Service (NCS) is an opportunity for the MSME sector to have access to the employable manpower database of NCS.
A Memorandum of Understanding (MoU) was also signed between the Ministry of MSME and the Common Service Centre (CSC) in connection with the Udyam Registration Portal.
The MoU will expand the handholding support to enterprises residing in remote areas and help them to avail benefits of Government schemes and Priority Sector Lending

About Ministry of Micro, Small & Medium Enterprises :

Cabinet Minister: Narayan Rane
Minister of State: Bhanu Pratap Singh Verma

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Rattanindia Releases Its First Anti-Drone Product Defender

RattanIndia Enterprises launched its first anti-drone product ‘Defender.’
The anti-drone has been developed by RattanIndia Enterprises’ step-down subsidiary Throttle Aerospace Systems.
RattanIndia’s wholly-owned subsidiary NeoSky India Ltd acquired a 60% stake in Throttle Aerospace in 2022.
The defender can be a 70% indigenous product with a 30% import part of BLDC motor and batteries.
It will be manufactured at Throttle Aerospace’s Bengaluru manufacturing facility in Bangalore, Karnataka.
The product can be used by hand or with Artificial Intelligence (AI), which helps it move with the rogue drone and keep its position.

About Throttle Aerospace Systems Pvt. Ltd (TAS) :

Founded: 2016
Headquarters: Bangalore, Karnataka
Throttle Aerospace Founder and CEO Nagendran Kandasamy

CURRENT AFFAIRS: RANKS & REPORTS

TCS Becomes India’s Most Valuable Brand in 2022 – Kantar BrandZ report

According to Kantar BrandZ report on India’s most valuable brands, Tata Consultancy Services (TCS) is India’s most valuable brand in 2022 with a brand value of $45.5 billion followed by HDFC Bank.
TCS has replaced HDFC Bank, valued at $32.7 billion which held the number one spot since the Kantar BrandZ India ranking was launched in 2014.
The report was released by the data analytics and brand consulting company Kantar.

List of Top 10 Companies :

Tata Consultancy Services – $45.5 billion
HDFC Bank – $32.7 billion
Infosys – $29.2 billion
Airtel – $17.4 billion
Asian Paints – $15.3 billion
State Bank of India (SBI)
Life Insurance Corporation (LIC)
Kotak Mahindra Bank
ICICI Bank
Reliance Jio

About the Report :

As per the report, ∙Indian brands have bounced back from the pandemic to increase their brand value by 35% compound annual growth rate (CAGR) since 2020.
TCS was able to grab the top slot due to rising global demand for automation and digital transformation, following the pandemic.
India’s top 75 brands are worth $393 billion, which is equivalent to 11% of India’s GDP.
According to the report, 6 banking brands delivered 19% of the total value.
Technology and banking brands account for over half of the total value.
India’s most-valuable brands in 2022 include Vi (15), formed from a merger between Vodafone and Idea.
Byju’s (19) has become India’s most-valuable education brand, and Adani Gas is ranked 21.

CURRENT AFFAIRS: OBITUARIES

Former Cabinet Minister of Malaysia Samy Vellu Passes away

Former Cabinet Minister of Malaysia and first Pravasi Bharatiya Samman Awardee from Malaysia, Dr. S. Samy Vellu Passed away at the age of 86 in Malaysia.

About Dr S. Samy Vellu :

Dr S. Samy Vellu born on 8 March 1936 Kluang, Johor, British Malaya (now Malaysia)
He served as Minister of Works from June 1983 to June 1989 and again from May 1995 to March 2008.
He held the post of Minister of Energy, Telecommunications from June 1989 to May 1995
He also served as the Minister of Works and Public Amenities from September 1979 to June 1983.
He was the Member of Parliament (MP) for Sungai Siput from September 1974 to March 2008.
He was appointed as Malaysia’s Special Envoy of Infrastructure to India and Southern Asia, with ministerial rank, on 1 January 2011.
He was the longest-serving Malaysian Indian Congress (MIC) president & one of the longest-serving Cabinet ministers by being in the Cabinet.

About Pravasi Bharatiya Samman Award :

The Pravasi Bharatiya Samman is the highest Indian award for Non-resident Indians and Overseas Citizens of India.
It was constituted by the Ministry of Overseas Indian Affairs, Government of India in conjunction with the Pravasi Bharatiya Divas (Non-Resident Indian Day)
The award is given by the President of India.

Tennis Player & Former Davis Cup Captain Naresh Kumar passes away

Former Indian Tennis Player & Davis Cup Captain Naresh Kumar passed away at the age of 93 in Kolkata, West Bengal.

About Naresh Kumar :

Naresh Kumar was born on December 22, 1928, in Lahore, Punjab, British India.
Kumar began his tennis journey at the Asian Championships in 1949 before ruling Indian tennis along with Ramanathan Krishnan for close to a decade in the 1950s.
In 1990, Kumar as a non-playing Indian captain played a key role in including a 16-year-old Leander Paes in the Davis Cup team.
He won five singles titles in his career – Irish Championships (1952 and 1953), Welsh Championships (1952), Essex Championships at Frinton-on-Sea (1957), and his title at the Wengen tournament in Switzerland in 1958.
He played his final tournament at the Asian Championships in 1969.

Awards & Honors :

Naresh Kumar became the first tennis coach to receive Dronacharya Lifetime Achievement Award in 2000.

Former Pakistan cricket umpire Asad Rauf Passes away

Former Pakistan cricket umpire Asad Rauf passed away at the age of 66 in Lahore.

About Asad Rauf :

He played in Pakistan domestic cricket between 1977 and 1991, representing Pakistan Universities, Lahore, National Bank of Pakistan, and Pakistan Railways
He officiated 64 Tests, 139 ODIs, 28 T20Is, and 11 women’s T20Is as either umpire or TV umpire.
Rauf played 71 First Class matches, scoring 3423 runs.
He played 40 List A matches, scoring 611 runs.
Rauf became a first-class umpire in 1998 and first officiated in an international ODI match in 2000.
He officiated in 64 Tests (49 as an on-field umpire and 15 as a TV umpire), 139 ODIs, and 28 T20Is and was one of Pakistan’s leading umpires in the mid-2000s.
He joined the ODI panel in 2004.
He was a former member of the Elite Panel of ICC Umpires between 2006 and 2013.
In 2016, he was handed a five-year ban by the BCCI on four charges of corruption and misconduct.

Daily CA on Sep 17 :

The NITI Aayog (National Institution for Transforming India) hosted the first Shoonya Forum to commemorate the first anniversary of India’s zero pollution e-mobility campaign in Delhi.
The Padmaja Naidu Himalayan Zoological Park (PNHZP) of Darjeeling, West Bengal (WB) has been recognized as the best zoo in India.
Karnataka Bank Ltd has become part of the Karnataka Government’s integrated financial management system (IFMS) Khajane-II (K2) for implementing a single nodal agency (SNA) account system for Centrally-sponsored schemes.
Global rating agency Fitch has lowered India’s economic growth forecast for fiscal 2022-23 (FY23) as measured by gross domestic product (GDP) to 7% from its June 2022 estimate of 7.8%.
Nippon Life India Asset Management (Singapore) Pte. Ltd (a wholly owned subsidiary of Nippon Life India Asset Management Limited) has collaborated with DWS to provide portfolio management and investment advisory services to the European-listed Indian Government Bond Exchange Traded Funds (ETF).
Senior diplomat Shri Prakash Chand has been appointed as the next ambassador of India to the State of Eritrea.
Thalassery MLA Shri A N Shamseer was elected as the 24th Speaker of Kerala Legislative Assembly after defeating UDF MLA Anwar Sadath by 56 votes in the election.
Life Insurance Corporation of India (LIC) has diluted its stake in GlaxoSmithKline Pharmaceuticals from 6.402% to 4.357%.
Google Cloud Chief Executive Officer (CEO) Thomas Kurian announced that Google has completed the $5.4 billion acquisition of cyber-security firm Mandiant.
Union Minister of Micro, Small & Medium Enterprises (MSME), Shri Narayan Rane headed the 18th meeting of the National Board of MSME (NBMSME).
RattanIndia Enterprises launched its first anti-drone product ‘Defender.’
According to Kantar BrandZ report on India’s most valuable brands, Tata Consultancy Services (TCS) is India’s most valuable brand in 2022 with a brand value of $45.5 billion followed by HDFC Bank.
Former Cabinet Minister of Malaysia and first Pravasi Bharatiya Samman Awardee from Malaysia, Dr. S. Samy Vellu Passed away at the age of 86 in Malaysia.
Former Indian Tennis Player & Davis Cup Captain Naresh Kumar passed away at the age of 93 in Kolkata, West Bengal.
Former Pakistan cricket umpire Asad Rauf passed away at the age of 66 in Lahore.

This post was last modified on September 17, 2022 11:18 am

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