Daily Current Affairs March 16 2022

 

CURRENT AFFAIRS: IMPORTANT DAYS

World Consumer Rights Day – 15th March:

• The consumer movement marks 15th March with World Consumer Rights Day every year, as a means of raising global awareness about consumer rights and needs.
• This year the International Consumer Rights Day will be celebrated on the theme of “Fair Digital Finance.”
• The Department of Consumer Affairs will commemorate this day with multiple events being held in New Delhi.
• World Consumer Rights Day was inspired by President John F Kennedy, who sent a special message to the US Congress on 15th March 1962, in which he formally addressed the issue of consumer rights.
• He was the first world leader to do so. The consumer movement first marked that date in 1983 and now uses the day every year to mobilise action on important issues and campaigns.

International Day of Action for Rivers: 14 March

• International Day of Action For Rivers, observed on March 14 every year, is a day that is dedicated to saving, celebrating, and creating awareness about the importance of rivers
• The year 2022 marks the 25th anniversary of the International Day of Action for Rivers.
• The theme in 2022 is The Importance of Rivers for Biodiversity”.
• The International Day of Action for Rivers is a day created by the International Day of Rivers to sensitize people about the importance of rivers.
• It brings people across the world together to talk about and save rivers by addressing the issues related to river management, river pollution, river conservation, etc.
• In March 1997, in Curitiba, Brazil, participants of the First International Meeting of People Affected by Dams adopted the International Day of Action Against Dams and For Rivers, Water and Life.
• Furthermore, they decided that the International Day of Action For Rivers will take place on March 14.

CURRENT AFFAIRS: NATIONAL NEWS

Govt extends Credit Guarantee Scheme for Subordinate Debt up to March 31, 2023:

• Government has extended Credit Guarantee Scheme for Subordinate Debt for Stressed Micro, Small and Medium Enterprises, MSMEs up-to 31st March next year.
• The scheme was launched on 24th June, 2020 to provide credit facility through lending institutions to the promoters of stressed MSMEs.
• The Government had earlier extended this scheme up to 31st March, 2022.
• The scheme has been further extended on the basis of the requests received from the stakeholders of the scheme.

ISRO has organized Young Scientist Programme “YUVIKA” for students:

• Indian Space Research Organisation is organising a special programme for School Children called “Young Scientist Programme” “YUva VIgyani KAryakram”, YUVIKA, to impart basic knowledge on Space Technology, Space Science and Space Applications to the younger students with a preference to rural areas.
• The programme is aimed at creating awareness about the emerging trends in science and technology amongst the youngsters, who are the future building blocks of our nation.
• ISRO has chalked out this programme to “Catch them young”.
• The programme is also expected to encourage more students to pursue in Science, Technology, Engineering and Mathematics (STEM) based research /career.
• The YUVIKA – 2022 residential programme will be of two weeks duration during summer holidays (May 16-28, 2022) and the schedule will include invited talks, experience sharing by the eminent scientists, experimental demonstration, facility and lab visits, exclusive sessions for discussions with experts, practical and feedback sessions.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Investment in care services can generate 234 million jobs for women by 2035, ILO          

• The International Labor Organization (ILO) has published a report titled ‘Care at work: Investing in care leave and services for a more gender-equal world of work’.
• The report provides a global overview of national laws and practices regarding care policies, namely maternity protection, paternity, parental and other care-related leave policies, as well as childcare and long-term care services.

Key Highlights :

• Investing in universal child care and long-term care services can generate up to 299 million jobs by 2035 & of these, 234 million (78 per cent) will go to women.
• Employment rates of women will rise by 10 percentage points overall, ranging from nine percentage points in Europe and lower-middle and low-income countries in Asia to 12 percentage points in the Arab states, far more than for men.
• This job creation potential by 2035 will be driven by 96 million direct jobs in childcare, 136 million direct jobs in long-term care and 67 million indirect jobs in non-care sectors and for that, an annual investment of $5.4 trillion will be required.
• The report found that three out of every ten women of reproductive age or 649 million women, lived in the 82 countries that did not meet the ILO Convention.
• The Convention mandates 14 weeks of minimum maternity leave on at least two-thirds of previous earnings, funded by social insurance or public funds.
• The proportion of potential mothers living in countries with maternity leave durations below 14 weeks is 51.9 per cent in Africa (23 countries), 55.8 percent in the Americas (18 countries) and 17.5 per cent in Asia and the Pacific (15 countries).
• In Europe and Central Asia, all potential mothers live in countries providing at least 14 weeks of maternity leave.
• Globally, 123 countries offer fully paid maternity leave, with nine in 10 potential mothers living in these countries.
• The report warned that it will take at least 46 years to achieve minimum maternity leave rights in the 185 countries analysed for the study.
• Globally, only 89 out of 179 countries have a statutory provision of public long-term care services for older persons.

About ILO :

• Founded : October 1919
• Headquarters:Geneva, Switzerland
• Director-General : Guy Ryder
• Member States : 187
• It is the first and oldest specialised agency of the UN.
• It received the Nobel Peace Prize in 1969.

CURRENT AFFAIRS : STATE NEWS

Delhi govt launches ‘My EV’ portal for purchasing, registering e-autos         

• The Delhi government launched an online portal “My EV” for the purchase and registration of electric autos in
• The government will also provide a 5 percent interest subsidy on the purchase of e-autos on loans under the Delhi Electric Vehicle Policy & Delhi has now become the first state to provide such a facility.
• It has collaborated with Convergence Energy Services Limited (CESL) to develop the website.
• Under this partnership, CESL has empanelled six Financial Institutions (FIs) Mahindra Finance, Akasa Finance, Mannapuram Finance, RevFin and Prest Loans through an open and transparent process to provide loans to electric vehicles at attractive terms.

About My EV Portal :

• The ‘My EV Portal’ is an online portal which will enable the Letter of Intent (LoI) holders to purchase e-autos and claim the incentives provided by the Delhi government
• A total of 4,261 LOIs for e-autos are being given with a 33 per cent reservation for women.
• It has been made accessible to all users on the website of the transport department.
• The Interest subvention of five percent on loans on the purchase of EVs is in addition to the applicable purchase incentive of Rs 30,000 and scrapping incentives of up to Rs 7,500 under the Delhi EV Policy. Through this scheme, an electric auto consumer will be able to avail up to Rs 25,000 additional benefit

About CESL :

• Headquarters : New Delhi, Delhi, India

About Delhi :

• Chief minister: Arvind Kejriwal

West Bengal presents Rs 3.21 lakh crore Budget for 2022-23

• West Bengal Finance Minister Chandrima Bhattacharya presented a Rs 3.21-lakh crore budget for the financial year 2022-23.

Key Highlights :

• Revenue receipts are pegged at Rs 1,98,047 crore
• Capital expenditure for the fiscal is estimated to be Rs 33,144 crore, and revenue expenditure is pegged at Rs 2,26,326 crore.
• The budget also proposes exemption from registration fee and road taxes for two years for battery-operated and CNG vehicles, both two and four-wheelers.
• The budget proposes additional allocation of Rs 8 lakh for widow pension from April 1, taking the total coverage to more than Rs 21 lakh with a provision of Rs 960 crore.
• For the development of north Bengal, an allocation of Rs 798 crore.

Budget allocation:

• Mass Education & Library Services – Rs. 387.40 Cr
• Micro, Small & Medium Enterprises & Textiles – Rs. 1159.99 Cr
• Minority Affairs & Madrasah Edu – Rs. 5,004.05 Cr
• Non-conventional & Renewable Energy Sources – Rs. 75.50 Cr
• North Bengal Development – Rs. 797.43 Cr
• Panchayats & Rural Development – Rs. 25,181.83 Cr
• Paschimanchal Unnayan Affairs – Rs. 693.56 Cr
• Personnel & Administrative Reforms – Rs. 370.77 Cr
• Planning and Statistics – Rs. 523.46 Cr
• Power – Rs. 2,838.87 Cr

About West Bengal :

• Chief minister: Mamata Banerjee
• Governor: Jagdeep Dhankhar
• Capital: Kolkata

Kerala Finance Minister presents state budget 2022-23

• Kerala’s Finance Minister K.N. Balagopal presented the budget for the financial year 2022- 23 in the Assembly.
• The Budget has earmarked Rs 2,000 crore to arrest price rise and ensure food security in Kerala.

Aim :

• To transform the state into a knowledge economy, Information Technology (IT), skill development and higher education sectors have received a major boost in the state budget.

Tax Proposals :

• Green tax on old vehicles increased by 50%.
• Tax on motorcycles, priced below Rs two lakh, increased by 1%.
• Tax slashed for caravans used for tourism purposes.
• Land tax to be revised by implementing new slabs.
• Fair price of land increased by 10%.

Key Highlights :

IT Sector :

• For the development of various IT parks : Rs 1,000 crore
• For setting up four science parks : Rs 1,000 crore
• Four new IT corridors will come up parallel to NH66 and new IT parks in Kannur and Kollam.
• Rs 100 crore has been earmarked for basic infrastructure development in the IT sector.

Higher education :

• Higher education sector, a total of Rs 200 crore (Through the Kerala Infrastructure Investment Fund Board (KIIFB)).
• For the development of 1,750 hostel rooms adjacent to universities : Rs 100 crore
• To start new courses : Rs 20 crore
• Rs 10 crore has been allotted to Kerala students who returned to the state from war-torn Ukraine.
• For setting up skill parks : Rs 350 crore

Agriculture sector :

• Total outlay : Rs 851 crore
• Rubber subsidy : Rs 500 crore
• Agri-tech facilities : Rs 175 crore

Railway project :

• Silverline semi high-speed rail project will get Rs 2,000 crore.

Road Infrastructure :

• For Road infrastructure development : Rs 1,500 crore has been allocated for the development of MC Road and Kollam-Shencotta road.
• The proposed outer ring road project in Thiruvananthapuram will receive Rs 1,000 crore for land acquisition.
• For the development of roads and bridges : Rs 1207.23 crore
• Constructing six bypass roads : Rs 200 crore

Tourism sector :

1. Rs 362 crore allocated.

Other Highlights :

1. Allocation of Rs 12,903 crore for Local Self-governments.

• Housing projects under Life Mission to get Rs 1771 crore.
• Rs 1600 crore for various works under Rebuild Kerala Initiative.
• The health sector allocated Rs 2,629 crore.
• Special cell in Norka department to assist students who returned from war-torn Ukraine.
• Milk and egg to be provided to children twice a week in Anganwadis.
• Five-year plan for waste management in Kerala.

About Kerala :

• Chief minister: Pinarayi Vijayan
• Governor: Arif Mohammad Khan
• Capital: Thiruvananthapuram

CURRENT AFFAIRS : BANKING & FINANCE

NSE, IBJA Partner To Set Up Bullion Spot Exchange

• National Stock Exchange of India Ltd (NSE) and India Bullion and Jewelers Association Ltd (IBJA) have joined hands to launch the Domestic Bullion Spot Exchange in line with SEBI guidelines.
• For shareholding structure, participation will be from NSE, IBJA, and industry participants (refiners, bullion dealers, jewelers, banks, overseas suppliers, funds, FPis, other MIIs, etc.) as per regulatory norms.
• The bullion spot exchange is expected to ensure complete transparency in the bullion transactions executed on its platform.
• Its proposed framework will cater to B2B segments of the industry and will also play a pivotal role in integrating the value chain participants in the entire bullion ecosystem.

Note :

• India is the second-largest consumer of gold, and it is the first time that a domestic bullion spot exchange is being set up under the aegis of SEBI.

About NSE :

• Founded : 1992
• Headquarters : Mumbai, Maharashtra, India
• Chairperson : Girish Chandra Chaturvedi
• MD & CEO : Vikram Limaye

About IBJA :

• Established : 1919
• National President : Prithviraj Kothari
• Headquarters : Mumbai, Maharashtra, India

CURRENT AFFAIRS: BUSINESS NEWS

India’s overall exports estimated to be over 601 billion dollars in April to Feb 2021-22:

• India’s overall exports are estimated to be over 57 billion dollars in February this year, exhibiting a positive growth of 25.41 per cent over the same period in 2021
• Commerce and Industry Ministry, the country’s overall exports in April to February 2021-22 are estimated to be over 601 billion dollars, exhibiting a positive growth of over 36 per cent over the same period in 2021.
• Overall imports in February this year are estimated to be 69.35 billion dollars, exhibiting a positive growth of 35.64 per cent over the same period in 2021.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Games24x7 appoints cricketers Shubham Gill, Ruturaj Gaikwad as brand ambassadors for My11Circle

• India’s leading online skill gaming company Games24x7 has appointed cricketers Shubman Gill and Ruturaj Gaikwad as its new brand ambassadors for its My11Circle fantasy gaming platform.
• Both the cricketers will feature in multimedia campaigns by the company spanning across TV, digital and social media platforms.

About Games24x7 :

• Founded : 2006
• Headquarters : Mumbai, Maharashtra
• Co-founder and CEO : Bhavin Pandya
• Games24x7 operates RummyCircle, the largest online rummy platform in India, and My11Circle, one of the country’s top fantasy sports platforms.

About My11Circle :

• Founded: 2019
• It allows users to play fantasy cricket, hockey, football, kabaddi, basketball, and other sports. It is currently one of the leading fantasy sports platforms in India along with Dream11.^[2]
• The platform runs with a tagline “Play with Champions“.

Bajaj Allianz General Insurance’s MD & CEO Tapan Singhel gets 5-year extension    

• Bajaj Allianz General Insurance, the second largest private sector general insurer, has extended the tenure of Tapan Singhel, the current managing director & chief executive officer (MD&CEO) of the company, by another 5 years, effective April 1, 2022.
• Singhel has already completed 10 years as the Managing Director (MD) and Chief Executive Officer (CEO) of Bajaj Allianz General Insurance since April 2012.

About Tapan Singhel :

• Tapan started his career with New India Assurance Company Limited as a direct officer in 1991.
• He has recently taken over as Chairman of the Confederation of Indian Industry (CII) National Committee on Insurance & Pensions 2020-21.
• He was also the president of the Indo-German Chamber of Commerce.
• He was a member of the board of directors for Berkshire India Limited and Berkshire Hathway Services India Private Limited during 2011-12.

Awards & Honors :

• CEO of the Year at 5th Annual Insurance India Summit & Awards 2020
• CEO of the year Award – 2021 Asia-Pacific at IDC Future Enterprise Awards India

Note :

• Tapan Singhel is the first MD & CEO who has received 2 consecutive extensions at the Company.

About Bajaj Allianz General Insurance :

• Founded: 2001
• Headquarters : Pune, Maharashtra
• Bajaj Allianz General Insurance Company Limited is a joint venture between Allianz SE, the world’s leading insurer, and Bajaj Finserv Limited.

CURRENT AFFAIRS : MOU & AGREEMENTS

India’s NTPC & Sri Lanka’s CEB Enter JVSHA For 100 MW Solar Power Plant in Tricomalee

• National Thermal Power Corporation Limited (NTPC) of India  & the Ceylon Electricity Board (CEB) of Sri Lanka signed an agreement for a joint venture to develop a 100 MW solar power plant in Sampur in the Trincomalee District, Sri Lanka.
• The signing ceremony took place at the Ministry of Finance of Sri Lanka for the plant in the country’s Eastern province.
• India’s cooperation with Sri Lanka in this domain will only become stronger with the implementation of the US$ 100 million Line of Credit offered by India to Sri Lanka for development of solar power projects in Sri Lanka.
• India & Sri Lanka expected to sign a 1 billion US dollar credit line to import essential commodities and medicinal drugs from India to Sri Lanka which is facing severe dollar shortage and higher risk of sovereign debt default.
• Both NTPC and CEB signed a 500 million US dollar Sampur coal power plant deal in 2011.
• Sri Lanka and India earlier had agreed to build a 500 MW coal power plant in Sampur, but the 2015-2019 Yahapalana regime backed away from the project.

About Sri Lanka :

• Capitals: Colombo, Sri Jayawardenepura Kotte
• Currency: Sri Lankan rupee
• President: Gotabaya Rajapaksa

About NTPC :

• Founded : 7 November 1975
• Headquarters : New Delhi, Delhi, India
• Chairman & MD : Gurdeep Singh
• It is a statutory corporation incorporated under the Companies Act 1956 and is under the ownership of the Ministry of Power, Government of India.

About Ceylon Electricity Board :

• Founded: 1 November 1969
• Headquarters: Colombo, Sri Lanka
• Chairman : Rakhita Jayawardena

CURRENT AFFAIRS : RANKING & INDEX

Mission Indradhanush: Odisha tops list of full immunisation with 90.5% coverage

• As per the reports of the National Family Health Survey (NFHS)-5, Odisha has become the only state in India to achieve 90.5% of immunization apart from the successful vaccination against Covid-19 infection under Mission Indradhanush 4.0.
• The intensified Mission Indradhanush (IMI) 4.0 has been rolled out in the state from March 7 for boosting full immunization coverage of the targeted women and children.
• 20 districts of odisha were above 90% in full immunization, and 10 districts were below 90%.
• Generally, full immunisation includes preventive doses against 12 different kinds of diseases including polio, tuberculosis, jaundice, diphtheria, whooping cough, tetanus, HIV, brain fever, pneumonia, measles, rubella, diarrhea, Japanese fever, and others.
• As per the composite index assessment Ganjam, Cuttack, Kendrapara, Jharsuguda, Koraput, Keonjhar, Malkangiri, Khurda, Sambalpur, Mayurbhanj, and Sundargarh districts were selected for inclusion under Intensified Mission Indradhanush.

About Mission Indradhanush :

• Mission Indradhanush is a health mission launched by Union Health Minister J. P. Nadda on 25 December 2014.
• The scheme seeks to drive towards 90% full immunisation coverage of India and sustain the same by year 2022.

Intensified Mission Indradhanush 3.0 –

• Focus : children and pregnant women who have missed their vaccine doses during the COVID-19 pandemic.
• Intensified Mission Indradhanush 4.0 –
• It will ensure that unvaccinated and partially vaccinated children, as well as pregnant women, receive Routine Immunization (RI) services.
• Children up to the age of two will be covered under this drive.

CURRENT AFFAIRS: SPORTS NEWS

Pramod Bhagat wins two silver, one bronze in Spanish Para-Badminton International:

• Pramod Bhagat won two silver and a bronze medal and Sukant Kadam ended up with a Bronze in Spanish Para-Badminton International 2022.
• World champion Pramod Bhagat won the men’s singles SL3 Silver and mixed doubles SL3-SU5 Bronze at the Spanish Para-Badminton International 2022.
• Earlier Pramod and his mixed doubles partner Palak Kohli also lost to an Indian pair of Ruthick Ragupathi and Manasi Girishchandra Joshi and had to settle for bronze.

Five Indian women boxers grab gold medals in Asian Youth and Junior Boxing Championships:

• Five Indian women boxers grabbed gold medals in the youth competition of the Asian Youth and Junior Boxing Championships in Amman, Jordan.
• Tamanna in 50 kilograms and Nivedita Karki in the 48-kilogram category won gold medals while Shaheen Gill in 60 kilograms, Ravina in 63 kilograms and Muskan in 75 kilograms also bagged gold medals.
• However, Priyanka and Kirti suffered defeats in the final and concluded their campaigns with silver medals.
• Renu, Tanisha Lamba, Prachi, Pranjal Yadav, and Sneha are the five boxers who secured bronze medals as Indian women signed off a medal in every 12 categories in the youth section.
• Indian junior team finished its campaign in second position with 21 medals eight gold, seven silver, and six bronze at the prestigious continental tournament where both the age groups of men and women youth and junior are being played together.

Lakshya Sen Wins Silver Medal at German Open (Badminton) 2022:

• Indian Shuttler Lakshya Sen wins Silver Medal in the German Open (Badminton) 2022 Tournament.
• He is defeated by Kunlavut Vitidsarn of Thailand, 18-21, 15-21, in the men’s singles final at the German Open 2022.
• German Open is an annual badminton tournament classified as BWF World Tour Super 300 event.

List of Winners and Runners in German Open 2022:

• Men’s singles: Kunlavut Vitidsarn (Thailand) defeat Lakshya Sen (India)
• Women’s singles: He Bingjiao (China) defeat Chen Yufei (China)
• Men’s Double: Goh Sze Fei and Nur Izzuddin (Malaysia)
• Women’s Double: Chen Qingchen and Jia Yifan (China)
• Mixed Doubles: Dechapol Puavaranukroh / Sapsiree Taerattanachai (Thailand)

CURRENT AFFAIRS: OBITUARIES

Former Zambian President Rupiah Banda passes away at 85:

• Former Zambian President Rupiah Bwezani Banda passed away in capital Lusaka at the age of 85 after a two-year battle with colon cancer.
• Rupiah Banda, who served as Fourth president of Zambia from 2008 and 2011.
• Banda was vice president of the southern African nation when the surprise death of President Levy Mwanawasa in 2008 propelled him to the top job, making him the fourth leader of the country after it gained independence from the United Kingdom in 1964.
• Banda was narrowly elected on a ruling party ticket in October 2008, and served three years in the post.

Daily News On March 16^th:

• The consumer movement marks 15th March with World Consumer Rights Day every year, as a means of raising global awareness about consumer rights and needs.
• International Day of Action For Rivers, observed on March 14 every year, is a day that is dedicated to saving, celebrating, and creating awareness about the importance of rivers
• Government has extended Credit Guarantee Schemefor Subordinate Debt for Stressed Micro, Small and Medium Enterprises, MSMEs up-to 31st March next year.
• Indian Space Research Organisationis organising a special programme for School Children called “Young Scientist Programme” “YUva VIgyani KAryakram”, YUVIKA, to impart basic knowledge on Space Technology, Space Science and Space Applications to the younger students with a preference to rural areas.
• The International Labor Organization (ILO) has published a report titled ‘Care at work: Investing in care leave and services for a more gender-equal world of work’.
• The Delhi government launched an online portal “My EV” for the purchase and registration of electric autos in Delhi & the government will also provide a 5 percent interest subsidy on the purchase of e-autos on loans under the Delhi Electric Vehicle Policy & Delhi has now become the first state to provide such a facility.
• West Bengal Finance Minister Chandrima Bhattacharyapresented a Rs 3.21-lakh crore budget for the financial year 2022-23.
• Kerala’s Finance Minister K.N. Balagopalpresented the budget for the financial year 2022- 23 in the Assembly.
• National Stock Exchange of India Ltd (NSE)and India Bullion and Jewelers Association Ltd (IBJA) have joined hands to launch the Domestic Bullion Spot Exchange in line with SEBI guidelines.
• India’s leading online skill gaming company Games24x7 has appointed cricketers Shubman Gill and Ruturaj Gaikwad as its new brand ambassadors for its My11Circle fantasy gaming platform.
• Bajaj Allianz General Insurance, the second largest private sector general insurer, has extended the tenure of Tapan Singhel, the current managing director & chief executive officer (MD&CEO) of the company, by another 5 years, effective April 1, 2022.
• National Thermal Power Corporation Limited (NTPC) of India & the Ceylon Electricity Board (CEB) of Sri Lanka signed an agreement for a joint venture to develop a 100 MW solar power plant in Sampur in the Trincomalee District, Sri Lanka.
• India’s overall exports are estimated to be over 57 billion dollarsin February this year, exhibiting a positive growth of 25.41 per cent over the same period in 2021
• As per the reports of the National Family Health Survey (NFHS)-5, Odisha has become the only state in India to achieve 5% of immunization apart from the successful vaccination against Covid-19 infection under Mission Indradhanush 4.0.
• Pramod Bhagatwon two silver and a bronze medal and Sukant Kadam ended up with a Bronze in Spanish Para-Badminton International 2022.
• Five Indian women boxers grabbed gold medalsin the youth competition of the Asian Youth and Junior Boxing Championships in Amman, Jordan.
• Indian Shuttler Lakshya Sen wins Silver Medal in the German Open(Badminton) 2022 Tournament.
• Former Zambian President Rupiah Bwezani Bandapassed away in capital Lusaka at the age of 85 after a two-year battle with colon cancer.