Current Affairs

5 April, 2022

International

BEZA signs deal with Adani group for Indian Economic Zone in Chattogram, Bangladesh

The Bangladesh Economic Zones Authority (BEZA) signed a non-binding agreement called term-sheet with Adani Ports and Special Economic Zone Limited (APSEZ Ltd.,) in Mumbai,Maharashtra to establish an Indian Economic Zone under the government-to- government (G2G) engagement in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai of Chattogram, Bangladesh.
i.The Indian Economic Zone will provide a range of facilities for Indian investors in Bangladesh.
ii.The agreement was the follow up of June 2015 Memorandum of Understanding (MoU) to establish an Indian economic zone.
iii.The Indian Economic Zone is being built on 857 acres of land with an estimated cost of Taka 964 crore supported by an Indian Line of Credit worth USD 115 million.
iv.The project involves land development, construction of connecting roads, security system, water supply, telecommunication, and water treatment plant facilities for the Indian companies investing in Bangladesh.
v.Among the Government to Government economic zones being set up in Bangladesh, the Indian Economic Zone is going to be the second largest one after the Japanese Economic Zone.
About Bangladesh:
Capital – Dhaka
Currency – Bangladeshi taka
President – Abdul Hamid
Prime minister –Sheikh Hasina Wazed
About Adani Ports and Special Economic Zone Limited of India(APSEZ Ltd):
Managing Director – Rajesh Adani
Chief Executive Officer (CEO) – Karan Adani

National

Tata Power commissioned 300 MW Solar Plant in Gujarat- India’s largest single-axis tracker system

Tata Power Renewables Energy Limited(TPREL) has commissioned a 300 MegaWatt (MW) solar plant in Dholera, Gujarat with the country’s largest single-axis solar tracker system. The project will generate 774 Million Units (MUs) of Renewable energy annually. Along with this, it will reduce approximately 7,04,340 Metric Ton per year of carbon emission. With this the installation entails 8,73,012 numbers of Monocrystalline Photovoltaic (PV) Modules.
i.The total area used for the Solar plant installation is 1320 Acre divided into six different plots of 220 acres each.
ii.With the addition of 300 MW, the renewables capacity in operation for Tata Power will now be 3,400 MW with 2,468 MW of Solar and 932 MW of Wind energy.
iii.The Tata Power’s total Renewable capacity is 5,020 MW including 1,620 MW of Renewable projects under various stages of implementation.

I&B Ministry Announces Merger of Film Media Units with NFDC

The Ministry of Information and Broadcasting (MIB) has transferred the mandate for the production of documentaries and short films, the organization of film festivals and the preservation of films to the National Film Development Corporation (NFDC), a Public Sector Undertaking (PSU) working under the ministry.
This resulted in the merger of the four film media units, including the Films Division, the Directorate of Film Festivals, the National Film Archives of India (NFAI) and the Children’s Film Society of India under the NFDC. This step is a move towards reducing the overlap of various activities and ensuring better utilization of public resources by bringing all these activities under a single management.

The Central Government has also designated Rs. 1304.52 crore till 2026 for film production and preservation, film festivals, and providing financial incentives for audio-visual productions with foreign countries, which will be managed by the NFDC through its Film Facilitation Office.

Note:

Expert Committees on Rationalization of Film Media Units and Review of Autonomous Bodies was headed by former I&B Secretary Bimal Julka.
In December 2020, the ministry under former I & B Minister Prakash Javadekar announced that the four public entities would be merged with NFDC, a “loss-making” public sector undertaking.
Highlights of Nepalese PM Sher Bahadur Deuba visit to India

i.On the invitation of Prime Minister (PM) of India, Narendra Modi, the PM Nepal Sher Bahadur Deuba, accompanied by a high-level delegation (4 Cabinet ministers) and his spouse Dr Arzu Deuba was on a 3-day visit to India on April 1-3, 2022.
ii.This was PM Sher Bahadur Deuba’s first visit after becoming PM in July 2021. However this is his fifth visit to India as PM, with the last visit being in August 2017. The previous three visits took place in 2004, 2002 and 1996.
iii.Besides official engagements in New Delhi, he visited Varanasi, Uttar Pradesh (UP), and offered prayers at the Kal Bhairav and Kashi Vishwanath temples.
iv.Both PMs jointly launched and operationalized 34.9 km long (∼22-mile) cross border rail link from Jaynagar in Bihar to Kurtha in Nepal at the Hyderabad House, New Delhi. They also jointly flagged off the inaugural run of the cross-border passenger train services between Jaynagar and Kurtha.
About Nepal:
Capital– Kathmandu
Currency– Nepalese rupee

Economy

India’s FY23 GDP Growth Estimated at 7.4%: FICCI Economic Outlook Survey

FICCI (Federation of Indian Chambers of Commerce & Industry) released its Economic Outlook Survey projecting India’s annual median Gross Domestic Product (GDP) at 7.4% in FY23 with a minimum growth estimate of 6% and maximum of 7.8%. The risks to growth will remain high amid Russia-Ukraine conflict which results in sharp rise in crude prices. This war is posing a biggest challenge to the global economic recovery.
FICCI Economic Outlook Survey:
It was conducted in March 2022 to ascertain response from economists representing sectors like industry, banking and financial services. The economists were asked for their forecast on key macro-economic variables for 2022-23, Q4 (January- March) of FY22 and Q1 (April-June) of FY23.

Aegon Life and Ahalia Finforex Partners to Offer Insurance Cover to Unserved Segment

Aegon Life Insurance Company(Aegon Life), a digital life insurance company and Ahalia Finforex, a Kerala-based diversified financial services firm has partnered to provide life insurance access to unorganized and unserved segments residing in tier 2, tier 3, and tier 4 towns. This is in line with the efforts of Ahalia Finforex to make every household financially secure.
Additional info:
Aegon Life has onboarded partners like Flipkart, Paytm, Mobikwik and others. It plans to onboard 100 distribution partners in 2022.
About Aegon Life Insurance Company:
MD & CEO– Satishwar Balakrishnan
Headquarters– Mumbai, Maharashtra
About Ahalia Finforex:
Ahalia Finforex is a diversified initiative of the Ahalia Group.
The company holds NBFC (Non-Banking Financial Company) and FFMC (Full-Fledged Money Changer) licenses from the Reserve Bank of India(RBI).
Managing Director– N. Bhuvanendran
Headquarters– Ernakulam, Kerala

SBI Signs MoU with The BSF to Provide Curated Benefits

The State Bank of India (SBI) and the Border Security Force (BSF) have signed a Memorandum of Understanding (MoU) to provide special benefits to serving and retired BSF personnel, as well as family pensioners, through the Central Armed Police Salary Package (CAPSP) Scheme.
This partnership intends to benefit and provide financial security for BSF personnel and their families by providing a variety of specialized benefits through CAPSP, which ensures that they and their family have easy access to banking services.
Features of the MoU:
i.The MoU ensures extensive benefits for the security forces, including complimentary Personal and Air Accidental Insurance (Death) Cover, additional cover in case of on-duty death, and Permanent Total Disability/Partial Disability Cover.
ii.The MoU will support child education and the marriage of girl children of deceased BSF personnel.
iii. Retired personnel will be eligible for complimentary Personal Accidental (Death) Insurance, irrespective of age, whereas family pensioners will be eligible for a bouquet of benefits.
iv.SBI will offer a zero-balance savings bank account with a host of complimentary benefits and a waiver of service charges to the BSF personnel considering their selfless services rendered to nation building.
v.It will also provide attractive interest rates and concessions on processing charges for serving personnel on home, car, education, and Xpress Credit personal loans.

Sports

Adidas Unveiled ‘Al Rihla’ The Official Ball For 2022 Qatar FIFA World Cup

Adidas, one of the top sports brands, unveiled the official ball ‘Al Rihla’ for the 2022 FIFA (Fédération Internationale de Football Association) Qatar World cup matches. Al Rihla means “the journey” in Arabic, and it was inspired by the architecture, iconic boats, and the flag of Qatar. With the environment at its heart, it is the first World Cup ball made using only water-based inks and glues. It is the 14th successive ball that Adidas has created for the FIFA World Cup. Al Rihla is made of polyurethane (PU) skin featuring micro and macro textures and a new 20-piece panel shape enhances aerodynamics to improve the accuracy and field play. Being the first World Cup ball in the 92-year history, Al Rihla contributes 1% of the funds to the Common Goal movement.

Australian Women’s Cricket Team Were Crowned As The Champions Of 2022 ICC Women’s Cricket

The twelfth edition of the ICC (International Cricket Council) Women’s Cricket World Cup was held in New Zealand from March to April 2022. In which the Australian women’s cricket team were crowned as the champions of the 2022 ICC Women’s Cricket by defeating England women’s cricket team in the finals by 71 runs in Hagley Oval, Christchurch, New Zealand.
The Australian women’s team was awarded 1.32 million United States Dollar (USD) and the Runner-up team (England women’s team) won USD 600,000.
Performer Of The Tournament:
i.Alyssa Healy (Australia) has been named as the ‘Player of the Tournament’ for scoring 509 runs in 9 matches, she is the first player to score 500-plus runs in a single edition of the Women’s One-Day International (ODI) World Cup.
Records By Indian women’s cricket team:
i.Jhulan Goswami (Bowler) of India became the highest wicket-taker in the World Cup Tournament bagging overall of 43 wickets.Indian bowler Jhulan Goswami achieved this with 40 wickets in 31 matches, beating Australia’s Lyn Fullston’s 39 wickets in Women World cup tournaments.
ii.Indian women’s team ODI skipper Mithali Raj broke the record for most matches captained (24 matches) in the ICC Women’s World Cup.
About ICC (International Cricket Council):
Chairman – Greg Barclay
Establishment – 1909
Headquarters – Dubai, United Arab Emirates

Miscellaneous

Viktor Orban Wins a Fourth Consecutive Term as Hungary’s Prime Minister

Viktor Orban was re-elected Prime Minister of Hungary for the fourth time in a row, in the General Election of 2022. His nationalist ruling Fidesz party has defeated the opposition, the United for Hungary party (a six-party opposition bloc), led by Peter Marki-Zay. The victory in the General Election of 2022 will be Fidesz’s fourth successive win since 2010. Viktor Orban led Fidesz party has won the general elections for the fifth term. According to the National Election Office of Hungary, Fidesz would have 135 seats in the 199-member parliament, a two-thirds majority, and the opposition alliance would have 56 seats with ~35% of the votes counted.
Note: Hungarian Parliament – Hungarian National Assembly (Országgyűlés)
About Viktor Orban:
i.Viktor Orban is the leader of the Fidesz party and the incumbent Prime Minister of Hungary.
ii.Fidesz had its first victory in the 1998 elections, with Orban becoming the youngest Prime Minister in Europe at the time.
iii. After a short pause in 2010, the party regained power in 2010, with Viktor at the forefront, and has retained it for three consecutive terms (almost 12 years) until 2022, making him the EU’s longest-serving leader.
About Hungary:
Hungary is a landlocked country in Central Europe bordering Austria, Croatia, Romania, Serbia, Slovakia, Slovenia, and Ukraine. It has been a member of the European Union (EU) since 2004.
President – Janos Ader (He will be succeeded by Katalin Novák on 10 May 2022)
Prime Minister – Viktor Orban (Head of Government)
Capital – Budapest
Currency – Forint (HUF) (HUF – Hungarian Forint)

64th Annual GRAMMY Awards(2022): Jon Batiste and Olivia Rodrigo Wins Top Honours

The 64th Annual Grammy Awards(Grammy 2022) was held at the MGM Grand Garden Arena in Las Vegas, Nevada. This was the 1st time a Grammy Awards ceremony was held in Las Vegas, Nevada, United States of America(USA)
The 64th GRAMMY Awards recognize recordings released between 1st September 2020 and 30th September 2021. The Grammy Awards, presented by the Recording Academy or National Academy of Recording Arts and Sciences, since 1957 honour musical artists, compositions and albums.
Highlights of Grammy 2022:
i.Jon Batiste(Jonathan Michael Batiste), an American singer, songwriter, and musician has won 5 Grammys which include, Album Of The Year for his Long Play(LP) We Are; Best American Roots Performance for Cry; Best American Roots Song for Cry; Best Score Soundtrack For Visual Media for Soul and Best Music Video for Freedom.
ii.Olivia Rodrigo(19-year-old), an American singer-songwriter has won 3 awards including the Best New Artist and she has also won the Best Pop Vocal Album for “Sour” and Best Pop Solo Performance “Drivers License.”

Journalist Aarefa Johari wins Chameli Devi Jain Award for 2021

A journalist from Mumbai, Aarefa Johari was awarded with the Chameli Devi Jain Award for an Outstanding Woman Mediaperson 2021. It was announced by the Media Foundation. Aarefa Johari works for ‘Scroll.in’ in Mumbai, Maharashtra. In 2020, Neetu Singh got this award. She is associated with ‘Goan Connection’ media house. Jury – Nirupama Subramania, Githa Hariharan and Ashutosh
About Chameli Devi Jain Award:
i.It is the annual prestigious recognition in the field of Journalism for women media persons journalist in India who have reported on themes such as social development, politics, equity, gender justice, health, war and conflict, and consumer values.
ii.Chameli Devi Jain was a freedom fighter and a community reformer. She became the first Jain woman to go to prison during India’s independence struggle.
iii.The award was instituted in 1980 by Verghese and the family of Chameli Devi.
Instituted-1981

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