30 March, 2022
Highlights of Wings India 2022: Asia’s Largest Event on Civil Aviation held in Hyderabad, Telangana
i.The Ministry of Civil Aviation (MoCA), Airports Authority of India (AAI) and Federation of Indian Chambers of Commerce & Industry (FICCI) jointly organized Wings India 2022 on the theme ‘India@75: New Horizon for Aviation Industry’ at Begumpet Airport, Hyderabad, Telangana, India. Telangana is the host state of the event.
ii.Wings India is a forum connecting buyers, sellers, investors, and other stakeholders for new business acquisition, investments, policy formation and regional connectivity.
iii.The Kempegowda International Airport, Bengaluru (BLR Airport), has won two major awards for its customer-centric approach, smart innovations, and adoption of cutting-edge technology.
iv.The Airports Authority of India (AAI), under its R & D (Research & Development) initiative has signed an agreement with Bharat Electronics Limited (BEL) for the joint, indigenous development of Air Traffic Management Systems (ATMS)
About Ministry of Civil Aviation (MoCA):
Union Minister – Jyotiraditya Scindia (Rajya Sabha- Madhya Pradesh)
Minister of State – Vijay Kumar Singh (Constituency – Ghaziabad, Uttar Pradesh)
UNESCO Includes Meghalaya’s Natural Root Bridges On Tentative List Of World Heritage Sites
The United Nations Educational, Scientific and Cultural Organisation (UNESCO) includes Meghalaya’s “Living Root Bridges or Jingkieng Jri” on a tentative list of World heritage sites. At present there are about 100 living root bridges around 70 villages of Meghalaya’s subtropical terrain region.
i.Villagers, (especially Khasi and Jaintia tribal communities) build and maintain these bridges from the past for more than 600 years.
Purpose Of The Root Bridge:
Villagers of Meghalaya grow these living root bridges to cross the water bodies, they do it by training the Indian rubber fig tree (ficus elastica) on both sides of water bodies over a period of about 10 to 15 years where the roots form the bridge.
Uses Of The Root Bridge:
i.These roots also prevent soil erosion, landslides and stabilise the soil.
ii.These roots not only provide bridges but also absorb carbon dioxide prevailing in the atmosphere.
iii.In 2021, a National Convention on the root-bridges was held to find unique species of orchids, amphibians, and mammals on the root-bridges.
iv.The elasticity of the bridge makes the structure strong, so that it can withstand upto a capacity of 50 people.
2022 Tentative list of UNESCO:
The Geoglyphs of Konkan region of Maharashra, Sri Veerabhadra Temple and Monolithic Bull (Nandi) at Lepakshi of Andhra Pradesh have made it to the Tentative list of UNESCO world heritage sites in 2022.
About United Nations Educational, Scientific and Cultural Organisation (UNESCO)
Director General – Audrey Azoulay
Established – 1945
Headquarters – Paris, France
Telecom Secretary Releases The TEC Report
K.Rajaraman, Secretary of the Department of Telecommunications (DoT), Ministry of Communications, has released two reports namely: Rollout of Small Cells for 5G Networks by leveraging Street Furniture
Internet of Things (IoT)/ Information Communication and Technology (ICT) Standards for Smart Cities
The objective of the report is to achieve a timely, hassle-free rollout of 5G services and the development of a standardized ecosystem for Smart Cities in India. These reports have been prepared by the respective divisions of the Telecommunication Engineering Centre (TEC), DoT, Government of India, with multi-stakeholders’ consultation. Note: The Telecommunication Engineering Centre (TEC) is the technical arm of the DoT and it is responsible for standardization and related aspects of the telecom sector.
Equitas SFB Launches Limited Edition ‘Equitas Bank CSK Debit Card’
Equitas Small Finance Bank (SFB) Limited has announced the launch of a limited edition Chennai Super Kings (CSK) branded debit card that can be availed along with an experience at ‘Equiverse’ virtual world. It is the first bank to introduce the Equitas Bank CSK Debit Card in the Equiverse, a special edition debit card for Chennai Super King (CSK) fans who shared space with the team’s avatars in this virtual experience at www.equiverse.in.
Equitas has partnered with CSK and other teams in the Indian Premier League (IPL) for the fourth time in 2022. The bank had their logo with the CSK team in IPL 2021, portraying themselves as the “BankBehindEveryChampion.”
About Equitas Small Finance Bank Limited:
MD & CEO – Vasudevan Pathangi Narasimhan
Establishment – September 5, 2016
Headquarters – Chennai, Tamil Nadu
First Wildlife Bond Issued by World Bank to Save Africa’s Black Rhino
The World Bank (International Bank for Reconstruction and Development, IBRD) has created the world’s first kind of Wildlife Conservation Bond (WCB), also known as the “Rhino Bond,” in support of South Africa’s efforts to protect the endangered species. It is a five-year, USD 150 million Sustainable Development Bond, matures in 2027, that includes a potential performance payment from the Global Environment Facility (GEF). It will contribute to protecting and increasing black rhino populations in two protected areas in South Africa: The Addo Elephant National Park (AENP), managed by the South African National Parks (SANParks) and The Great Fish River Nature Reserve (GFRNR), managed by Eastern Cape Parks and Tourism Agency (ECPTA).
The WCB is a first-of-its-kind, outcome-based financial instrument that directs investments toward conservation goals. Based on the success of this program,this could be expanded to protect black rhino populations in Kenya as well as other wildlife species such as lions, tigers, gorillas, and orangutans.
i.Rhinos are considered an umbrella species that plays a crucial role in shaping entire ecosystems on which countless other species depend.
ii.The International Union for Conservation of Nature (IUCN) lists the Black Rhino (Diceros bicornis) as Critically Endangered on the IUCN Red List of Threatened Species.
iii. Through the WCB, investors support and finance the activities that help to protect and grow a critically endangered species with clear conservation targets.
About Wildlife Conservation Bond (WCB) or the Rhino Bond:
i.It was issued by the International Bank for Reconstruction and Development (IBRD) at 94.84 percent of the nominal aggregate amount, with a maximum Conservation Success Payment of US $13.76 million.
ii.Credit Suisse Group AG structured the bond and acted as joint bookrunner with Citibank.
iii. Conservation Alpha has been tasked with determining the success of the programme and its payments. The verification agent is the Zoological Society of London(ZSL).
DBS Bank India & EaseMyTrip Partnered to Launch Green Debit Card
DBS Bank India signed a partnership agreement with EaseMyTrip to launch an environment-friendly international debit card or green debit card, made up of 99% recycled polyvinyl chloride (PVC) material. This is the first-ever 99% recycled PVC debit card.
Objective- Through this collaboration, EaseMyTrip aims to promote sustainability and incentivise sustainable tourism.
i.The digibank (digital bank) EaseMyTrip Green Debit Card provides exclusive travel-related offers to customers and rewards them for adopting eco-friendly practices. This move will reduce carbon footprint.
ii.The green card will offer attractive deals on bookings made through the EaseMyTrip website and mobile app. It will offer a 10% discount up to Rs.2000 on flight ticket bookings and up to 17% discount on stays at selected eco-friendly hotels.
iii.The card allows withdrawal up to Rs.1,50,000 per day from any bank’s ATM in India and overseas and allows purchases worth up to Rs.1,50,000 in India and up to Rs.1,00,000 across merchant outlets globally.
What is polyvinyl chloride (PVC) material?
It is a strong synthetic plastic polymer. It is prefered for being lightweight, sturdy and abrasion-resistant material.It offers great tensile strength and is rigid by nature.
About DBS Bank India Limited:
Headquarters- Mumbai, Maharashtra
MD & CEO- Surojit Shome
India Secures 8th Position At World Para Athletics Grand Prix 2022 in Dubai
The 13th Fazza International Para Athletics Championships of World Para Athletics Grand Prix 2022 held at Dubai, UAE from 21 March to 24 March 2022, in which India secured 8th position with 14 medals. India secured 5 Gold, 6 Silver and 3 Bronze medals. Total of 29 athletes have represented India.
Events And Records By Indians:
Gold Medal Winners :-
Sprinter, Pranav Prashant Desai won India’s first gold medal at the 2022 World Para Athletics Grand Prix, claimed Gold in the men’s 200m T64 final. Desai also claimed Gold in 100m men T63/64 final race. Javelin Thrower Mohit made an impressive throw of 54.71m distance to win Gold medal. Indian long jumper Someswara Rao Ramudri made a leap of 6.40m to take the long jump men T64 gold medal. Ramsingbhai Govin Padhiyar secured gold medal in the High Jump T42 event by clearing 1.84m.
Other Medal Winners:-
i.Indian para athlete Dharambir set a new Asian record in the men’s F32/51 club throw event and secured silver.
ii.Devendra Singh secured silver in the F44 men’s discus throw event.
iii.Jyoti Behera secured bronze in 400m women’s final T37/38/47 final.
iv.Shailesh Kumar secured Silver in the High Jump T42 event.
v.Mohammed Yasser secured silver in the shot put final F42/46 event.
Overall Medal Standings:
Position 1 – Colombia 25 medals (12 gold)
Position 2 – Algeria 16 medals (11 gold)
Position 3 – Thailand 30 medals (8 gold)
BBC Honoured Indian Weightlifter Mirabai Chanu with BBC ISWOTY 2021 Award
Indian Weightlifter, Padma Shri Saikhom Mirabai Chanu, who became the first Indian weightlifter to win a silver medal at the Tokyo Olympics, has won the 3rd edition of the (British Broadcasting Corporation) BBC Indian Sportswoman Of The Year(ISWOTY) 2021.
The award ceremony was hosted by Tim Davie, Director-General of BBC in New Delhi, Delhi.
i.BBC Lifetime Achievement Award 2021:
Karnam Malleswari, former Indian weightlifter. And the 1st Indian woman to win a medal at the Olympics in 2000.
ii.BBC Emerging Indian Sportswoman of the Year 2021:
Shafali Verma, the youngest female cricketer who played for India in the Women’s Twenty20(T20) International match in 2019.
Duff & Phelps Report: Cricketer Virat Kohli ranked India’s Most Valued Celebrity 2021
According to the Celebrity Brand Valuation Report 2021 (7th Edition) titled “Digital Acceleration 2.0.” released by Duff & Phelps (Now Kroll), Indian Cricketer Virat Kohli was ranked as India’s most valued celebrity for the 5th consecutive time in 2021. The brand value of Virat Kohli has dropped from USD 237.7 million in 2020 to USD 185.7 million in 2021.
Top 3 Persons:
Rank Name Brand Value(In Millions)
1 Virat Kohli USD 185.7
2 Ranveer Singh USD 158.3
3 Akshay Kumar USD 139.6
Alia Bhatt has ranked 4th with a brand value of USD 68.1 million and has become the most valued female celebrity. She is the youngest celebrity among the top 10 and she is the most valued brand amongst female Bollywood actors.
Chief Executive Officer (CEO)- Jacob Silverman
Headquarter – New York, United States(US)
WB Governor Jagdeep Dhankhar Inaugurates Petascale Supercomputer PARAM Shakti at IIT Kharagpur
Jagdeep Dhankhar, Governor of West Bengal(WB), inaugurated the Petascale Supercomputer PARAM Shakti under the National Supercomputing Mission (NSM) – a joint initiative of the Ministry of Electronics and Information Technology (MeitY) and the Department of Science and Technology (DST) at Indian Institute of Technology(IIT) Kharagpur in West Bengal.
Petascale computing refers to computing systems capable of calculating at least 10^15 floating-point operations per second (1 petaFLOPS).
In March 2019, IIT Kharagpur and the Centre for Development in Advanced Computing (CDAC) signed a Memorandum of Understanding (MoU) to establish PARAM Shakti, the state-of-the-art Supercomputing Facility with 17680 Central Processing Unit (CPU) cores along with 44 Graphics processing unit(GPUs).
About PARAM Shakti:
i.The supercomputer PARAM Shakti is based on a heterogeneous and hybrid configuration of Intel Xeon Skylake processors and NVIDIA Tesla V100.
ii.The system was designed and implemented by the HPC Technologies team, Centre for Development of Advanced Computing (C-DAC).
iii.This facility has pioneered in using Rear Door Heat Exchangers (RDHx) based efficient cooling systems to obtain a high power usage effectiveness. RDHx Systems Help With High-Density Data Center Cooling.
i.It consists of 2 Master nodes, 8 Login nodes, 10 Service/Management nodes and 442 (CPU+GPU) nodes with a total peak computing capacity of 1.66 (CPU+GPU) PFLOPS performance.
ii.The systems are based on Intel Xeon SKL G-6148, NVIDIA Tesla V100 with a total peak performance of 1.6 PFLOPS.
iii.The cluster consists of compute nodes connected with Mellanox (EDR) infiniBand interconnect network and the system uses the Lustre parallel file system.
The system has been tested extensively by both IIT Kharagpur and CDAC for commercial, open-source and in-house software pertaining to diversified applications.
i.The IIT Kharagpur has also established the Centre for Computational and data science with a mandate to train researchers in supercomputer accelerated Research & Development(R&D).
ii.Previously in March 2022, CDAC has designed and installed a ‘Made in India’ Petascale supercomputer named “PARAM Ganga” at IIT Roorkee under National Supercomputing Mission (NSM).
ICICI & HDFC Bank To Acquire up to 15% Stake in IDRCL
The ICICI Bank Ltd (ICICI Bank) & HDFC Bank signed an investment agreement for a 15% stake in India Debt Resolution Company Ltd (IDRCL). The IDRCL was established to manage stressed assets in India. .The approval for the deal was given by the Reserve Bank of India (RBI) and the Department of Economic Affairs, Ministry of Finance. IDRCL works in tandem with the National Asset Reconstruction Company Ltd (NARCL) to clean up bad loans.
ICICI Bank Acquisition:
The investment would consist of a total cash consideration of upto Rs.7.5 crore in multiple equity tranches.
Note- In March 2022, the ICICI bank also signed an agreement to acquire a 5%stake in National Asset Reconstruction Company Limited (NARCL).
About Stressed assets:
It is a broader term and comprises NPAs (Non-performing Assets), Restructured loans and Written off assets.
Stressed assets = NPAs + Restructured loans + Written off assets
NPAs– A loan whose interest/installments has not been paid for more than 90 days.
Restructured Loans – Loans which have been restructured by giving a longer duration for repayment, lowering interest or by converting them to equity.
Written off Assets – loans which aren’t counted as dues. They are compensated through some other way.
HDFC Bank Acquisition:
HDFC Bank will also acquire a 15% equity stake in IDRCL for Rs. 7.50 crore. The first tranche of equity investment for Rs 3 crore is expected to be complete by 31 March 2022. The investment will be in multiple tranches.
About ICICI Bank Ltd (ICICI Bank):
It was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry & Incorporated in 1994.
CEO & MD- Sandeep Bakhshi