Current Affairs

11 January, 2022

International

KVG Bank joins hands with Mecwin Tech to finance Solar Pump-Sets for Farmers

A Regional Rural Bank (RRB), Karnataka Vikas Grameena(KVG) Bank (KVGB), has signed a Memorandum of Understanding (MoU) with Bengaluru (Karnataka)-based Mecwin Technologies(Tech) Ltd to introduce farmer-friendly solar-powered pump-sets using bank finance. Solar-powered pump-sets will replace diesel pump-sets resulting in reduced carbon emissions.

Signatories:
KVGB General Manager (GM) P Srinivas Rao; and MECWIN Technologies co-founder Shivakumar H M signed the agreement.
About Karnataka Vikas Grameena Bank (KVGB):
It is sponsored by Canara Bank.
Chairman– P Gopi Krishna
Headquarter– Dharwad, Karnataka

STPINEXT Signs MoUs with HDFC Bank & Excelpoint Systems to Strengthen Tech Startup Ecosystem in India

AIC STPINEXT Initiatives (STPINEXT), a special purpose vehicle of Software Technology Parks of India (STPI), under the Ministry of Electronics and Information Technology (MeitY), has signed two Memorandums of Understanding (MoUs), one with HDFC Bank and the other with Excelpoint Systems India Pvt. Ltd. to enhance the tech startup ecosystem in India. Both HDFC Bank and Excelpoint Systems will support the startups through technical guidance and assistance, mentoring, pitching to investors, funding support, and market connect & access.

These MoUs are in line with supporting the startup ecosystem through STPI & STPINEXT.
AIC STPINEXT Initiatives:
AIC STPINEXT Initiatives incorporated by the STPI is a section 8 company, which will act as a nodal agency and common implementation vehicle for several startups and entrepreneurial activities at the STPI.
Additional info:
i.STPI has been supporting the enhancement of the startup ecosystem in India.
As of January 2022, STPI has launched 20 CoEs in various emerging technologies across India.
ii.At present, the total value of software exports from India stands at USD 142 billion.
About Software Technology Parks of India (STPI):
Director-General– Arvind Kumar
MD& CEO(STPINEXT)– Subodh Sachan
Headquarters– New Delhi, Delhi

National

9th Edition of North East Festival held in Guwahati

The 9th edition of the North East Festival was held in Guwahati, Assam from 7th to 9th January 2022. The 9th edition of the North East Festival was inaugurated by Jagdish Mukhi, Governor of Assam on 7th January 2022. The festival aimed to promote and highlight the commercial and tourism potential of the North East Region. The festival held in the format of a carnival also discussed the business, economic, socio-political issues of the region.

24th NCeG 2020-21: Adopted Hyderabad Declaration on e-Governance; Presented NAeG 2020-21 Awards

The 24th National Conference on e-Governance (NCeG) 2020-21, which was organised by the Department of Administrative Reforms & Public Grievances (DARPG), Ministry of Electronics & Information Technology (MeitY), in association with the State Government of Telangana, was held on 7and 8 January 2022 at Hyderabad, Telangana.

Theme – The theme of this Conference is ‘India’s Techade: Digital Governance in a Post Pandemic World’.
About Ministry of Electronics & Information Technology (MeitY):
Union Minister – Ashwini Vaishnaw (Constituency – Rajya Sabha Odisha)
Minister of State – Rajeev Chandrasekhar (Constituency -Rajya Sabha Karnataka)

Kochi becomes India’s First City with Water Metro Project

i.Kochi (Kerala) has become India’s first city to have a Water Metro Project after the launch of its first boat in December 2021, namely ‘Muziris,’ among the 23 battery-powered electric boats being manufactured by Cochin Shipyard Limited.
ii.This launch is a part of Rs 747-crore project which is operated by Kochi Water Metro Ltd (KWML). The boats will be called Water Metros.
iii.With a total outlay of Rs 819 crore, project’s major part is financed under Indo-German Financial Cooperation through a long-term loan agreement of 85 million Euros (Rs 579 crore) with German funding agency, KfW (Kreditanstalt für Wiederaufbau).
About Kerala:
Governor– Arif Mohammad Khan
Airport – Kannur International Airport, Calicut International Airport;
Ramsar Sites – Vembanad-Kol Wetland, Sasthamkotta Lake

Economy

Sova Capital Collaborates with India INX for Accessing Russian market

India International Exchange (IFSC) Limited (India INX) signed an agreement with Sova Capital, an International Clearing Member of Moscow Exchange (MOEX), through its wholly owned subsidiary India INX Global Access IFSC, to allow Indian clients to access the Russian market. The partnership will provide connection to all India INX Members and their clients to access all instruments on MOEX (Russia’s main trading venue for equities, bonds, derivatives, Foreign Exchange (FX) and money markets) and trade the global markets directly from India.

India INX Global Access IFSC Ltd has launched a platform through which Indian clients can trade foreign stocks.

About India International Exchange (IFSC) Limited (India INX):
India INX, Bombay Stock Exchange’s (BSE’s) international arm, commenced its trading activities on January 16, 2017 and is India’s first International Exchange set up at Gujarat International Finance Tec-City, India’s First International Financial Services Centre (GIFT IFSC).
MD & CEO – V. Balasubramaniam
About Sova Capital:
Sova Capital is a United Kingdom (UK)-based and FCA-regulated broker dealer Establishment – 2007(as Otkritie Capital International Limited)
Headquarters – London, UK
CEO – Sergey Sukhanov

Edelweiss group & Indian Bank Signs Co-lending Agreement to Priority Sectors

The Edelweiss Financial Services and ECL Finance signed a co-lending agreement with Indian Bank to expand services under priority sector lending (PSL).
About Indian Bank:
CEO- Shanti Lal Jain
Headquarters- Chennai, Tamil Nadu
Established- 1907
Tagline- ‘’Your Own Bank’’
About Edelweiss Financial Services:
Chairman- Rashesh Shah
Headquarters- Mumbai, Maharashtra

Sports

Tennis-Rafael Nadal wins Melbourne Summer Set 1 trophy 2022

Rafael Nadal, World No.6 & the 20-time Grand Slam champion from Spain defeats American Maxime Cressy, (7-6), (6-3) in the Men’s Singles final of the Melbourne Summer Set 2022 Set 1, ATP 250 in “Hard-Court” at Rod Laver Arena, Melbourne.

2022 Melbourne Summer Set was a series of two simultaneous tennis tournaments organized by Tennis Australia at Melbourne Park in Melbourne, Australia.The Melbourne Summer Set 1 featured an ATP Tour 250 tournament and a WTA 250 tournament, both played on hard courts.The Melbourne Summer Set 2 was a WTA 250 tournament played on hard courts. This is Nadal’s 89th career singles title and first title in Australia since 2009. Rafael Nadal has won a record 20 Grand Slam singles titles which ties him with Roger Federer and Novak Djokovic. Nadal has also won 36 Masters 1000 titles.

Melbourne Summer Set 1
CATEGORY WINNERS RUNNER UPS
MEN’S SINGLES Rafael Nadal (Spain) Maxime Cressy (USA)
WOMEN’S SINGLES Simona Halep (Romania) Veronika Kudermetova (Russia)

MEN’S DOUBLES Wesley koolhof – Neal Skupski
(Netherland – United Kingdom) Aleksandr Nedovyesov – Aisam-ul-Haq Qureshi
(Kazakhstan – Pakistan)

WOMEN’S DOUBLES Asia Muhammad – Jessica Pegula (USA -USA) Sara Errani – Jasmine Paolini (Italy – Italy)
Melbourne Summer Set 2
CATEGORY WINNERS RUNNER-UPS
Women’s Singles Amanda Anisimova
(USA) Aliaksandra Sasnovich
(Belarus)
Women’s Doubles Bernarda Pera – Katerina Siniakova
(USA – Czech Republic) Tereza Martincova – Mayar Sherif
(Czech Republic – Egypt)
About Tennis Australia:
Chair-Jayne Hrdlicka ;
Headquarter – Melbourne, Australia

Bharath Subramaniyam becomes India’s 73rd chess GM during Vergani Cup Open 2022 in Cattolica, Italy

The Vergani Cup Open 2022, a 9-round Swiss tournament was held on January 2-9, 2022 in Cattolica, Italy. In this, a 14-year old Chess Player, Bharath Subramaniyam from Chennai, Tamil Nadu became India’s 73rd chess Grandmaster (GM) by securing the third and final GM norm of the tournament. He scored 6.5 points and ranked 7th overall. Indian player Musunuri Rohit Lalith Babu (29) emerged winner in the tournament i.e. ranked 1st with seven points. He won the title on the basis of a better tie-break score after he tied with three others. He was followed by United States (US) Hans Moke Niemann at 2nd, and Vitaliy Bernadskiy (Ukraine) at 3rd

Highlights of 2022 Adelaide International 1

The 3rd edition of Adelaide International 2022 is being held at The Memorial Drive Tennis Centre, Adelaide, Australia as two events, from 3rd January 2022 to 15th January 2022. The Tournament is majorly sponsored by Adelaide South Australia & Government of South Australia. The 2022 Adelaide International’s, first event, (Adelaide International 1) was hosted from 3rd to 9th January 2022 and featured a WTA 500 and ATP 250 combined tournament, followed by the 2nd Adelaide International event, (Adelaide International 2) a WTA 250 and ATP 250 tournament from 9th to 15th January 2022. The event is part of the lead-up to the first Grand Slam tournament of the season, the Australian Open.

Category Winners Runners
Men’s Singles Gael Monfils (France) Karen Khachanov (Russia)
Women’s Singles Ashleigh Barty (Australia) Elena Rybakina (Kazakhstan)
Men’s Doubles Rohan Bopanna & Ramkumar Ramanathan (India) Ivan Dodig (Croatia) and Marcelo Melo (Brazil)
Women’s Doubles Ashleigh Barty and Storm Sanders (Australia) Darija Jurak (Croatia) and Andreja Klepac (Slovenia)
About Association of Tennis Professionals (ATP):
Chairman – Andrea Gaudenzi
Establishment – 1972
Headquarters – London, United Kingdom
About Women’s Tennis Association (WTA):
Chairman – CEO – Steve Simon
Established – 1973
Headquarters – Florida, United States (US)

Miscellaneous

OPEC appoint Kuwait’s Haitham Al Ghais as its New Secretary General

The Organization of the Petroleum Exporting Countries (OPEC) appointed Kuwait’s oil executive Haitham Al Ghais as the new Secretary General (SG). He will succeed Nigeria’s Mohammad Barkindo. He is appointed for a three year tenure (2022-2025) and will take the charge as the SG from 1st August 2022. Haitham Al Ghais, previously served as the Governor of OPEC between 2017 to June 2021, then as the Director of Kuwait Petroleum Corporation (KPU). Mohammad Barkindo held the post of Secretary General since 2016, and would have served the maximum of two 3-year terms by July 2022.

About Organization of the Petroleum Exporting Countries (OPEC):
It is a permanent, intergovernmental Organization. It was created at the Baghdad Conference in September 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
13 Member Countries- Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates and Venezuela
Headquarters– Vienna, Austria
Founded- September 1960

Former RBI Governor Urjit Patel appointed as Vice President of AIIB for 3-Year Term

Former Governor of the Reserve Bank of India (RBI), Urjit Patel is appointed as a Vice President of the Asian Infrastructure Investment Bank (AIIB) for a three year tenure (2022-2025) starting from 1st February. Urjit Patel will succeed previous Vice President D J Pandian. Currently, DJ Pandian oversees all sovereign and non sovereign lending in South Asia, the Pacific Islands and South East Asia. He will be one of the five Vice Presidents of the AIIB, which is headed by the President and Chair of the Board of Directors Jin Liqun (China).

Note – AIIB ($500 million) along with Asian Development Bank ($1.5 Billion) are providing $2 Billion loan for COVID-19 vaccine procurement under the Asia Pacific Vaccine Access Facility (APVAX) initiative.
India & Asian Infrastructure Investment Bank (AIIB):
i.India is the second largest shareholder in the bank, only after China.
ii.India is the largest beneficiary of AIIB financing for infrastructure projects such as energy, water, transport, etc. including the Bangalore Metro Rail Project & Chennai Metro Rail Project.
iii.The bank has also given approval for around USD 500 million for a COVID-19 Emergency Response Fund and Health Systems Preparedness Project.
About Asian Infrastructure Investment Bank (AIIB):
Motive – To build Infrastructure for Tomorrow (i4t)
Commenced operation– January 2016
Headquarters- Beijing, China

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