Current Affairs

19 April, 2022

International

Extreme poverty in India declined by 12.3 Percentage Points between 2011-2019: WB Research Paper

In accordance with the World Bank (WB) Policy Research Working Paper, in India, extreme poverty is estimated to have declined 12.3 percentage points between 2011-2019. The title of the paper is ‘Poverty in India has Declined over the last decade But Not As Much As Previously Thought’. It is jointly authored by economists Sutirtha Sinha Roy and Roy van der Weide. The extreme poverty count fell from 22.5% in 2011 to 10.2% in 2019.

National

Ayushman Bharat – Health & Wellness Centre Scheme Marks 4th year Anniversary

The Union Health Minister Mansukh Mandaviya, organised a week-long celebration under the “Azadi Ka Amrit Mahotsav”, marking the fourth anniversary of Ayushman Bharat- Health and Wellness Centres (AB-HWCs) from April 16 to April 22. The inauguration of the first AB-HWC on 14th April 2018, at Jangla, a serene village in Bijapur District of Chhattisgarh.
Union Health Minister addresses at 4th anniversary celebrations of AB-HWCs
Mansukh Mandaviya, the Union Health Minister addressed the fourth anniversary celebration of AB-HWCs in a meeting organised virtually, which saw the participation of more than 1 Lakh AB-HWCs, State Health ministers, senior Officials of all the States and Union Territories, healthcare workers from various hospitals and development partners.

Economy

Central Govt amends FEMA (Non-debt Instruments) Rules, 2019 to Allow 20% FDI in LIC

In exercise of the powers conferred by clauses (aa) and (ab) of sub-section (2) of section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government has amended Foreign Exchange Management (Non-debt Instruments) Rules, 2019 with Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2022 allowing Foreign Direct Investment (FDI) in the Life Insurance Corporation of India (LIC) upto 20%, and to align with the modified FDI policy. The amendment also allows start-ups to issue convertible notes for a maximum period of 10 years from earlier 5 years. FEMA stands for Foreign Exchange Management Act.

Nexo Card: Nexo launches World’s 1st Crypto-Backed Payment Card with Mastercard & DiPocket

A partnership of London (United Kingdom)-based Nexo with Mastercard, and DiPocket launched the world’s first crypto-backed payment card namely ‘Nexo Card’ in selected European countries. London-based DiPocket, an electronic money firm is Nexo’s card issuer while New York (United States)-based Mastercard offers various innovative features for this Card Available both in virtual and physical form, this card allows users to spend without having to sell their digital assets such as bitcoin, which are used as collateral to back the credit granted.

RBI certifies 121 Finance as India’s 1st NBFC-Factor under its Registration of Factors Regulations 2022

i.Jaipur (Rajasthan)-based 121 Finance becomes India’s first fintech led NBFC (non-banking financial company)-Factor to receive the Certificate of Registration (CoR) under Registration of Factors (Reserve Bank) Regulations 2022. That means, it is the first NBFC to convert from an Investment and Credit Company (ICC) to an NBFC-Factor.
ii.Until now, Factoring was offered only to the large corporates.
iii.Under this registration, MSME can sell a receivable invoice to 121 Finance, without any collateral. With this the business can convert these invoices into cash instantly and be free from the management of the receivables.
About 121 Finance:
Establishment– 1984
Headquarters- Jaipur, Rajasthan
Founder & CEO– Dr Ravi Modani

Sports

Tennis: Stefanos Tsitsipas of Greece won the Men’s Singles title at Rolex Monte-Carlo Masters 2022

Stefanos Tsitsipas, a Greek professional tennis player, has won the Men’s Singles title at the Rolex Monte-Carlo Masters 2022, 115th edition, held at the Monte-Carlo Country Club in Monte Carlo, Monaco, from 10th to 17th April 2022.Rolex Monte-Carlo Masters is the first of three ATP Masters 1000 tournaments played on clay. This marks his 8th Association of Tennis Professionals (ATP) Tour title as well as his 2nd ATP Masters 1000 (Monte Carlo) title of his career. He defeated Alejandro Davidovich Fokina of Spain to retain his title and became the first repeat champion at Monte Carlo Masters since Rafael Nadal of Spain in 2018 He became the 6th player to win back to back in Monte Carlo Masters in Open Era, emulating Rafael Nadal, Juan Carlos Ferrero, Thomas Muster, Bjorn Borg and Ilie Nastase.
Note:
Rafael Nadal has won Rolex Monte-Carlo Masters 11 times, including an Open-Era record eight successive titles at a single ATP Tour event, between 2005-2012.
About Stefanos Tsitsipas:
i.Stefanos Tsitsipas (World Rank 5) born in Athens, Greece, has won 8 ATP Tour titles including 2022 & 2021 ATP Masters 1000 Monte Carlo.
ii.He won the 2019 Nitto ATP Finals and became the youngest Nitto ATP Finals champion, year-end champion, since Lleyton Hewitt (20) in 2001 in Sydney.
Winners of Men’s Doubles:
Joe Salisbury, British professional tennis player and Rajeev Ram, American professional tennis player won the Men’s Doubles Title at the Rolex Monte-Carlo Masters 2022 defeating Juan-Sebastian Cabal and Robert Farah of Colombia.
About Association of Tennis Professionals (ATP):
ATP is the governing body of the men’s professional tennis circuits – the ATP Tour, the ATP Challenger Tour and the ATP Champions Tour.
Chairman– Andrea Gaudenzi
CEO– Massimo Calvelli

Indian GM D Gukesh won La Roda International tourney held at spain

The Indian GrandMaster (GM) Dommaraju Gukesh, won the 48th La Roda International Open Chess tournament held at Castilla La Mancha, Spain by defeating Israel GM Victor Mikhalevski in the final round and scoring 8 points from nine rounds.
Rank

Country
Grand Master

1IndiaDommaraju Gukesh2ArmeniaHaik Mikaeli Martirosyan3IndiaRameshbabu Praggnanandhaa4IndiaRaunak Sadhwani5SpainManuel Lopez Martinez Josep

Miscellaneous

Zhongxing-6D – Communication Satellite successfully launched by China

China launched a new satellite named Zhongxing-6D through its Long March-3B rocket carrier, from the Xichang Satellite Launch centre located at China’s Southwest Sichuan Province.
About Zhongxing-6D:-
i.The Satellite system will provide Radio and Television transmission and communication services.
ii.The launch marks the 415th mission for the Long March series rocket carrier.

Atomic Energy Commission Chairman Kamlesh Nilkanth Vyas Gets 1 year Extension

The Appointment Committee of the Cabinet(ACC) has approved the extension of service to Kamlesh Nilkanth Vyas, Chairman of Atomic Energy Commission(AEC), for a period of 1 year beyond 3rd May 2022, i.e., upto 3rd May 2023. This is the 2nd extension for Kamlesh Nilkanth Vyas, who has been serving as the Chairman of Atomic Energy Commission since September 2018.
Background:
In September 2018, ACC approved his appointment as the Secretary, Department of Atomic Energy (DAE), Government of India and Chairman, Atomic Energy Commission of India, till he attains the age of 64 on 3rd May 2021.
In May 2021 his term was extended for a period of 1 year, i.e., upto 3rd May 2022.
About Kamlesh Nilkanth Vyas:
i.Kamlesh Nilkanth Vyas, a nuclear physicist, qualified as a scientist trainee of Bhabha Atomic Research Centre(BARC) in 1979 and joined as a scientist in Fuel Design & Development Section of Reactor Engineering Division of BARC.
ii.He was responsible for design and development of a novel fuel for strategic applications.
iii.He has also served as the Director of BARC.
Awards:

Indian Nuclear Society Outstanding Service Award 2011.
Homi Bhabha Science and Technology Award 2006.
Department of Atomic Energy(DAE) Excellence Award for outstanding contributions (2007, 2008, 2012 and 2013).
He is also a Fellow of the Indian National Academy of Engineers.
About Atomic Energy Commission(AEC):
i.AEC was first established in August 1948 in the Department of Scientific Research.
ii.DAE was setup on 3rd August 1954 under the direct charge of the Prime Minister(PM) through a Presidential Order. In accordance with a Government Resolution dated 1st March 1954, the AEC was established in the DAE.
iii.The Secretary to the Government of India in the Department of Atomic Energy is ex-officio Chairman of the Commission.
Chairman– Kamlesh Nilkanth Vyas
Headquarters– Mumbai, Maharashtra

MoCA’s UDAN Scheme to Be Awarded with The Prime Minister’s Award for Excellence in Public Administration

UDAN (Ude Desh ka Aam Nagrik), a flagship Regional Connectivity Scheme (RCS) of the Ministry of Civil Aviation (MoCA) has been chosen for the Prime Minister’s Award for Excellence in Public Administration 2020 in the category “Innovation (General) – Central”. The award will be presented to the Ministry of Civil Aviation on April 21 – Civil Service Day. On the occasion of “Civil Service Day,” the government of India is set to organise a special event at Vigyan Bhawan, where the representative of the ministry will be honoured.
NOTE: Ude Desh ka Aam Naagrik – Let the Common Citizens of The Country Fly.
About Prime Minister’s Award for Excellence in Public Administration:
i.The Government of India established this award in 2006 to honour, recognise, and reward remarkable and innovative work done by Districts and Organizations of State/Government.
ii.In 2021, the Scheme was revamped with a new approach to encourage Constructive Competition, Innovation, Replication and Institutionalisation of Best Practices. Under this approach, emphasis would be on Good Governance, Qualitative achievements, and last mile connectivity rather than only on achievement of quantitative targets. The award includes a trophy, a scroll, and a cash prize of Rs. 10 lakhs.

About UDAN (Ude Desh ka Aam Nagrik) Scheme:
i.The UDAN scheme, which was launched in 2016, intends to meet the expectations of the common man by enhancing aviation infrastructure and air connectivity in tier II and III cities, as per the vision of UdeDeshkaAamNagrik. Over 92 lakh people have benefited from 415 UDAN routes that connected 66 underserved and unserved airports, including heliports and water aerodromes, in just five years.

ii. New Greenfield Airports were also built as a result of the project, including Pakyong in Gangtok in Sikkim, Tezu in Arunachal Pradesh, and Kurnool in Andhra Pradesh. The scheme also resulted in a 5% increase in the domestic passenger share of non-metro airports.
iii.The Ministry of Civil Aviation intends to build 100 new airports by 2024 in India, as well as 1,000 new routes under the UDAN RCS scheme by 2026.
iv.It is to be noted that the tableau of the Ministry of Civil Aviation that featured the Regional Connectivity Scheme (RCS) – UDAN (UdeDeshKaAamNagrik) as its central theme, was named as the best central ministry tableau for Republic Day 2022.

IndusInd Bank bags global ‘Celent Model Bank’ Award for its Enterprise Payments Hub (EPH) initiative

The Celent, leading research and advisory firm on Banking Technology, has awarded the global ‘Celent Model Bank’ award for IndusInd Bank for its best-in-class Enterprise Payments Hub (EPH) under the ‘Payments System Transformation’ category. The award acknowledges the bank’s efforts in creating a cloud-based central payments hub which is capable of processing high transaction loads originating from all forms of payment instructions and client touchpoints.
About Enterprise Payments Hub (EPH):-
i.The EPH is developed on a micro services stack with each payment having its pod based architecture allowing the bank to minimise outages, reduce transaction cost and improve the customer experience.
ii.It allows payments to auto scale independently depending on peak transactions and also features capabilities like warehousing of transactions including replay, centralised limit management and reconciliation controls.
About Celent Model Bank award:-
i.The award is given by Celent, a leading research and advisory firm focused on technology for financial institutions globally.
ii.The award recognises best practices of using technology in different areas that are critical for banking.
About IndusInd bank:-
Chief Executive Officer – Sumant Kathpalia
Headquarters – Mumbai, Maharashtra
Tagline – We Make You Feel Richer

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