Daily Current Affairs April 20 2022

 

CURRENT AFFAIRS: IMPORTANT DAYS

World Liver Day:

• Every year World Liver Day is celebrated on April 19.
• The day is observed to raise awareness about liver diseases across the world.
• The liver is the largest solid organ of the body that removes toxins from the body.
• The organ maintains healthy blood sugar levels, regulates blood clotting, and performs several other vital functions in the body.
• It is an essential organ of the human body present beneath the rib cage in the right upper abdomen.
• The liver produces bile that helps in digesting fats and carrying essential waste.

CURRENT AFFAIRS: NATIONAL NEWS

Govt extends PMGKP Insurance Scheme for Health Care Workers:

• The Union Government has extended the Pradhan Mantri Garib Kalyan Package (PMGKP) Insurance Scheme for Health Care Workers Fighting COVID-19 for a further period of 180 days.
• The decision has been taken to extend the policy so as to continue to provide the safety net to the dependents of health workers.
• In March 2020, the PMGKP was launched to provide comprehensive personal accident cover of 50 lakh rupees to 22.12 lakh health care providers including community health workers and private health workers.
• The private hospital staff requisitioned by States and Central Hospitals specifically drafted for the care of COVID-19 patients are also covered under the scheme.
• So far, 1,905 claims of health workers who died while being deployed for COVID-related duties have been settled under the scheme.

Ethosh Digital has opened its first IT Training & Services centre in Leh:

• Ladakh Additional Director General of Police SS Khandare has inaugurated the first IT Training and Services centre of Ethosh Digital, in Leh.
• Leh has taken the first step towards establishing the Information Technology sector.
• Ethosh Digital is a California-based Multinational Company, working in the field of digital communications and AR-VR products.
• Aseem Foundation, a Pune-based NGO, working in India’s border regions in the fields of Education, entrepreneurship, health, sports and sustainable development has helped Ethosh Digital to establish the first IT office in Ladakh.

e-DAR portal to speed up accident compensation claims:

• The Ministry of Roads, Transport and Highways (MoRTH) have developed the portal named ‘e-DAR’ (e-Detailed Accident Report).
• Digitalised Detailed Accident Reports (DAR) will be uploaded on the portal for easy access.
• The web portal will be linked to the Integrated Road Accident Database (iRAD).
• From iRAD, applications to more than 90% of the datasets would be pushed directly to the e-DAR.
• Stakeholders like the police, road authorities, hospitals, etc., are required to enter very minimal information for the e-DAR forms.
• Thus, e-DAR would be an extension and e-version of iRAD.
• The court, in its detailed order, recorded that e-DAR portal would conduct multiple checks against fake claims by conducting a sweeping search of vehicles involved in the accident, the date of the accident, and the First Information Report number.

World’s Highest Tunnel connecting Himachal Pradesh to Ladakh to be constructed by BRO:

• Border Roads Organisation will construct the world’s highest tunnel at Shinku La Pass at 16,580 feet to connect Himachal Pradesh to Ladakh, informed BRO Director General Lieutenant General Rajeev Chaudhary.
• This tunnel, to be completed by 2025, will change the economy of Zanskar Valley, the official added.
• At present, one has to travel 101 kms from Manali to Darcha on Leh road and thereafter, take a turn from Darcha towards Shinku La Pass and enter Zanskar valley.
• Currently, one must travel 101 kilometres on the Leh route from Manali to Darcha, then turn left towards Shinku La Pass and enter Zanskar valley.
• The tunnel’s south portal will be at Shinku La, and the tunnel’s north portal will be at Lhakhang.
• The D-G praised BRO personnel’s efforts in reopening the Shinku La-Padum and Manali-Leh roads in record time.

CURRENT AFFAIRS : BANKING & FINANCE

Govt amends FEMA rules to allow 20% FDI in LIC

• The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC.
• The government is planning to dilute its stake in LIC through the Initial Public Offering (IPO).
• The new FEMA guidelines enable a startup to issue convertible notes that may be converted into equity shares within ten years.
• On March 14, the Department for Promotion of Industry and Internal Trade (DPIIT) revised its FDI policy after receiving Cabinet approval, making it easier for foreign investors to participate in LIC ahead of the massive public offering.
• Foreign investment in LIC is subject to the terms of the Life Insurance Corporation Act, 1956 as amended from time to time, as well as those sections of the Insurance Act, 1938, as amended from time to time, as are relevant to LIC.
• SEBI has cleared the draft prospectus for the government’s sale of a 5% interest in the company for an estimated Rs 63,000 crore, paving the way for the country’s largest-ever initial public offering.
• So far, the amount mobilised from IPO of Paytm in 2021 was the largest ever at Rs 18,300 crore, followed by Coal India (2010) at nearly Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore.

RBI Certifies 121 Finance As NBFC-Factor After Revised Registration Of Factors Regulations

• The fintech firm 121 Finance has become India’s first NBFC (Non Banking Financial Company) -factor to receive the certificate of registration under registration of factors (Reserve Bank) regulations, 2022

Aim :

• To deliver the Trade Receivables Discounting System (TReDS) experience for seamless Working Capital solutions to MSMEs
• NBFC-factor addresses the most significant challenge most businesses suffer from, which is arranging short-term funds for micro, small, and medium enterprises (MSMEs) without any collateral.
• 121 Finance is strongly placed to reach annual disbursements of over 500 crores by 2023.

About Non-Banking Financial Company-Factors :

• As per the RBI, the company can be registered as a non-banking financial company-Factors if it complies with the following conditions.
• The company seeking registration as NBFC-Factor must have a minimum net owned fund (NOF) of Rs 5 Crore.
• The company must ensure that the assets in the factoring business must constitute at least 50% of its total assets and also, the income derived from the factoring business should not be less than 50% of its gross income.

About 121 Finance :

• Established : 04 June 1984
• Headquarters : Jaipur, Rajasthan
• Founder and CEO : Ravi Modani

Nexo launches world’s  first card with Mastercard and DiPocket

• Nexo, the leading regulated institution for digital assets, officially launched the Nexo Card, a first-of-its-kind crypto-backed Mastercard & DiPocket, in selected European markets.
• The Nexo Card is the first card in the world that allows users to spend without having to sell their digital assets.

Features of the Nexo Card :

• Your Crypto Stays: The Nexo Card is linked to a Nexo-provided, crypto-backed credit line that starts and stays at 0% APR*.
• It allows cardholders to use their digital assets as collateral rather than selling them.
• The credit line is dynamic and can use multiple assets as collateral, including but not limited to Bitcoin, Ethereum, and Tether.
• Zero Fees: The card requires no minimum repayments, monthly, or inactivity fees.
• There are no FX fees for up to €20,000 per month.
• 2% Crypto Rewards: Every Nexo Card transaction is equipped with instant crypto cashback, paid out in Bitcoin or in Nexo’s native NEXO Token.
• This means users not only can retain ownership of their digital assets, but they also earn up to 2% back in free cryptocurrency with each purchase, which becomes automatically available in their Nexo account.
• Seamless Access: Available both in virtual and physical form, the Nexo Card comes with direct Apple Pay and Google Pay integrations.
• Cardholders can add the Nexo Card to their preferred mobile wallet from the Nexo Wallet App with a few taps.
• The card will give its users access to cryptocurrency-powered liquidity across 92 million merchant sites worldwide.
• It allows investors to spend up to 90% of the fiat value of their crypto.

About Nexo :

• Founded : 2017
• Co-founder & Managing Partner : Antoni Trenchev
• Headquarters : London

About Mastercard :

• Founded : 3 November 1966
• Headquarters : New York, United States
• Executive Chairman : Ajay Banga
• President & CEO : Michael Miebach

About DiPocket :

• Co-founder & CEO : Fedele Di Maggio

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Atomic Energy Commission Chairman Kamlesh Nilkanth Vyas gets 1-yr extension

• The government has granted an extension of one year to Atomic Energy Commission Chairman Kamlesh Nilkanth Vyas.
• The Appointment Committee of the Cabinet has approved the extension in service to Vyas for a period of one year beyond May 3, 2022 or “until further orders”.
• This is the second extension for Vyas, who was first appointed to the post in September 2018 for a period up to May 3, 2021.

About Kamlesh Nilkanth Vyas :

• Vyas is a Mechanical Engineer from MS University, Vadodara.
• After completion of the training in the 22nd Batch of the BARC Training School in 1979, he joined the Fuel Design & Development Section of the Reactor Engineering Division of BARC.
• He had earlier served as Director of Bhabha Atomic Research Centre (BARC).
• Vyas has worked for design and analysis of nuclear reactor fuels, according to his bio-data.
• He was responsible for design and development of a novel fuel for strategic applications.
• Vyas has worked extensively in thermal hydraulics and stress analysis of critical reactor core components.
• He has also participated in design & analysis of the Test Blanket Module planned to be installed in ITER, France.

Awards & Honors :

• Indian Nuclear Society Outstanding Service Award 2011
• Homi Bhabha Science and Technology Award 2006
• DAE Awards in the years 2007, 2008, 2012 and 2013.
• Vyas is also a Fellow of the Indian National Academy of Engineers.

About Atomic Energy Commission :

• Formed: 3 August 1948
• Headquarters: Mumbai, Maharashtra, India
• The Atomic Energy Commission of India is the governing body of the Department of Atomic Energy (DAE), Government of India.
• The DAE is under the direct charge of the Prime Minister.

Yemeni president Abdrabbuh Hadi steps down as President of Yemen

• Yemeni President Abdrabbuh Mansur Hadi stepped down from his position under pressure from Saudi Arabia.
• He stepped down after seven years of war in the country and handed over his power to the newly created presidential council, which consists of eight political leaders,led by Rashad al-Alimi..

About Abdrabbuh Mansur Hadi :

• Abdrabbuh Mansur Hadi is a Yemeni politician and former field marshal of the Yemeni Armed Forces.
• He was the vice president to Ali Abdullah Saleh from 1994 to 2012.
• He had served as the president of Yemen from 2012 until 2022.

About Yemen :

• Capital: Sana’a
• Currency: Yemeni rial

Lt Gen Manoj Pande appointed as India’s next Chief of Army Staff

• Lieutenant General Manoj Pande appointed the new Chief of Army Staff.
• He will succeed General M M Naravane who will retire on April 30, 2022.
• Lt Gen Manoj Pande would be the 29th COAS.
• The Vice Chief of Army Staff, Lt General Pande will be the first officer from the Corps of Engineers to become the COAS.

About Lt Gen Manoj Pande :

• Pande is an alumnus of the National Defence Academy.
• He was commissioned into the Corps of Engineers in December of 1982.
• He has served as chief engineer in the UN mission in Ethiopia and Eritrea.
• He has commanded the 117 Engineer Regiment during Operation Parakram in the sensitive Pallanwala Sector of Jammu and Kashmir, along the Line of Control (LoC).
• He was the Commander-in-Chief Andaman and Nicobar Command (CINCAN) from June 2020 to May 2021 & General Officer Commanding-in-Chief Eastern Command from June 2021 to January 2022.
• He is currently serving as the Vice Chief of the Army Staff since 1 February 2022.

Awards & Honors :

• For his illustrious service, Lt Gen Manoj Pande has been conferred

• Param Vishisht Seva Medal
• Ati Vishisht Seva Medal
• Vishisht Seva Medal, the Chief of Army Staff Commendation and the GOC-in-C Commendation.

CURRENT AFFAIRS : AWARDS & HONORS

Indusind Bank Bags Global ‘Celent Model Bank’ Award for Its Enterprise Payments Hub Initiative

• IndusInd Bank has been awarded the global ‘Celent Model Bank’ award under the category – ‘Payments System Transformation’ for building a best-in-class Enterprise Payments Hub (EPH).
• The award acknowledges the Bank’s outstanding journey in creating a cloud-based central payments hub that is capable of seamlessly processing high transaction loads originating across all forms of payment instructions, and across all originating client touchpoints.
• The ‘Celent Model Bank’ is awarded for best practices of technology usage in different areas that are critical to success in banking, and is the main award that a financial institution can receive from Celent, a leading research and advisory firm focused on technology for financial institutions, globally.

About the EPH programme:

• Under the Enterprise Payments Hub initiative, IndusInd Bank has successfully designed a solution that will cut down on transaction cost, minimize system outages, and improve operation as well as customer experience, across all transaction points.
• It is developed on a micro services stack with each payment having its pod based architecture.
• It allows payments to auto scale independently depending on the transaction peak.
• It also features capabilities like warehousing of transactions including replay, centralised limit management and reconciliation controls.

About Indusind Bank :

• Founded : April 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sumant Kathpalia

Civil Aviation Ministry’s “UDAN” scheme selected for Prime Minister’s Award for Excellence in Public Administration

• The Ministry of Civil Aviation (MoCA) flagship Regional Connectivity Scheme UDAN (UdeDeshkaAamNagrik) has been selected for Prime Minister’s Award for Excellence in Public Administration 2020 under the category “Innovation (General) – Central”.
• The Ministry of Civil Aviation will receive the award on 21stApril,i.e. Civil Service Day.
• The event is being organized by the Government of India at VigyanBhawan on the occasion of “Civil Service Day” where the representative of the ministry will be facilitated with the award.

What is the UDAN scheme?

• UDAN scheme Launched in 2016.

Aim :

• To fulfil the aspirations of the common man by following the vision of UdeDeshkaAamNagrik,with an enhanced aviation infrastructure and air connectivity in tier II and III cities.
• In a short span of 5 years, 415 UDAN routes connect 66 underserved/unserved airports, including heliports and water aerodromes, and over 92 lakh people have benefited
• The scheme led to development of new Green Field Airports such as Pakyong near Gangtok in Sikkim, Tezu in Arunachal Pradesh and Kurnool in Andhra Pradesh.
• The scheme also led to 5% incremental growth in domestic passenger share of non-metro airports.
• The Ministry of Civil Aviation plans and commits to construct 100 new airports by 2024 in India with 1,000 new routes under UDAN RCS scheme by the year 2026.

About Prime Minister’s Award for Excellence in Public Administration :

• Government of India has initiated this award to acknowledge, recognize and reward extraordinary and innovative work done by Districts and Organizations of State/Government.
• The scheme emphasises on Good Governance, Qualitative achievements, and last mile connectivity rather than only on achievement of quantitative targets.
• The award consists of a trophy, scroll and an incentive of Rs 10 lakhs.

About Ministry of Civil Aviation :

• Cabinet Minister : Jyotiraditya Scindia
• Minister of State : V. K. Singh
• Recently, the Ministry of Civil Aviation tableau was named as the best central ministry tableau for Republic Day 2022.

CURRENT AFFAIRS : REPORT & INDEX

World Bank report: Extreme Poverty in India Decline by 12.3% between 2011-2019

• According to the World Bank Policy Research Working Paper, the extreme poverty rate in India has declined from 22.5 percent in 2011 to 10.2 percent in 2019 & ie 12.3 percentage points lower in 2019 as compared to 2011.
• The World Bank working paper, titled Poverty in India Has Declined over the Last Decade But Not As Much As Previously Thought, has been authored by economists Sutirtha Sinha Roy and Roy van der Weide.
• Poverty reduction was higher in rural areas as compared to urban India.
• Rural poverty dropped by 14.7 percent while urban poverty declined by 7.9 percentage points during 2011 to 2019.
• While it eased to 11.6% in rural areas in 2019, the urban poverty level stood at 6.3%.
• Interestingly, urban poverty inched up by 2 percentage points in the demonetisation year of 2016 and rural poverty rose by 10 basis points in 2019.
• The rate of poverty reduction between 2004 and 2011 is estimated at approximately 2.5 percentage points per year.
• The paper also mentioned that farmers having small landholding sizes have reported higher income growth.
• Real incomes for farmers with the smallest landholdings have grown by 10 percent in annualised terms between the two survey rounds compared to a 2 percent growth for farmers with the largest landholding.
• The paper further argued that the growth in incomes of smallest landholders in rural areas provides more evidence of moderation in income disparity in rural areas.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China successfully launches Zhongxing-6D satellite

• China sent a new satellite Zhongxing-6D into space from the Xichang Satellite Launch Center in southwest China’s Sichuan Province.
• The satellite was launched by a Long March-3B carrier rocket and entered the planned orbit successfully.
• The satellite was developed by the China Academy of Space Technology.
• It, built by the Shanghai Academy of Spaceflight Technology, will be used to observe air pollution, greenhouse gases and other environmental elements.
• The launch marked the 415th mission for the Long March series carrier rockets.

About Zhongxing-6D satellite :

• The Satellite will provide data to research on climate change and ecological changes, and will help to forecast agricultural yields and hazards.
• It will provide reliable, stable and safe radio and television transmission and communication services.

About China :

• President: Xi Jinping
• Currency: Renminbi
• Capital: Beijing

CURRENT AFFAIRS: SPORTS NEWS

Haryana wins 12th Senior Men’s National Hockey Championship:

• Haryana has become the winner of the 12th Senior Men’s National Hockey Championship in the final, Haryana defeated Tamil Nadu 3-1 in the shootout after the final ended 1-1 in the regulation time.
• The tournament was held in Bhopal, Madhya Pradesh from April 6 to 17, 2022.
• Haryana has won the trophy for the first time since 2011.
• Karnataka prevailed over Maharashtra 4-3 in the third/fourth place classification match.

CURRENT AFFAIRS: BOOKS AND AUTHOR

A New Children’s Book titled “The Boy Who Wrote a constitution” authored by Rajesh Talwar:

• In the 131st year of Dr Bhimrao Ramji Ambedkar’s birth, Rajesh Talwar published “The Boy Who Wrote a constitution: A Play for Children on Human Rights.”
• Talwar’s also authored books include “The Vanishing of Subhash Bose”, “Gandhi, Ambedkar, and the Four-Legged Scorpion”, and “Aurangzeb”.
• This book conveys to the children about the challenging boyhood and grown-up years of Ambedkar who had written the Constitution of India and became India’s first law minister.

CURRENT AFFAIRS: OBITUARIES

Noted Odia singer and musician Prafulla Kar passes away:

• Popular Odia singer and music director Prafulla Kar passed away following breathing difficulties
• He was 83.
• Kar was an eminent musician, singer, lyricist, writer and columnist.
• He received the prestigious Padma Shri award in 2015.
• He started his career as a singer in 1962 with the Odia film Shri Shri Patita Pabana.
• In 1975, he became a music composer in the film Mamata which turned out to be an instant hit.
• Some of the movies which would forever carry the legacy of his melodious music are Batighara, Shesha Shrabana, Sindura Bindu, Bandhu Mahanti, Balidaan and Ram Balaram.

Daily CA on April 20 :

• Every year World Liver Day is celebrated on April 19.
• The Union Government has extended the Pradhan Mantri Garib Kalyan Package (PMGKP) Insurance Scheme for Health Care Workers Fighting COVID-19 for a further period of 180 days.
• Ladakh Additional Director General of Police SS Khandare has inaugurated the first IT Training and Services centre of Ethosh Digital, in Leh.
• The Ministry of Roads, Transport and Highways (MoRTH) have developed the portal named ‘e-DAR’ (e-Detailed Accident Report).
• Border Roads Organisation will construct the world’s highest tunnel at Shinku La Pass at 16,580 feet to connect Himachal Pradesh to Ladakh, informed BRO Director General Lieutenant General Rajeev Chaudhary.
• The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC.
• The fintech firm 121 Finance has become India’s first NBFC (Non Banking Financial Company) -factor to receive the certificate of registration under registration of factors (Reserve Bank) regulations, 2022
• Nexo, the leading regulated institution for digital assets, officially launched the Nexo Card, a first-of-its-kind crypto-backed Mastercard & DiPocket, in selected European markets.
• The government has granted an extension of one year to Atomic Energy Commission Chairman Kamlesh Nilkanth Vyas.
• Yemeni President Abdrabbuh Mansur Hadi stepped down from his position under pressure from Saudi Arabia.
• Lieutenant General Manoj Pande appointed the new Chief of Army Staff & he will succeed General M M Naravane who will retire on April 30, 2022.
• IndusInd Bank has been awarded the global ‘Celent Model Bank’ award under the category – ‘Payments System Transformation’ for building a best-in-class Enterprise Payments Hub (EPH).
• The Ministry of Civil Aviation (MoCA) flagship Regional Connectivity Scheme UDAN (UdeDeshkaAamNagrik) has been selected for Prime Minister’s Award for Excellence in Public Administration 2020 under the category “Innovation (General) – Central”.
• According to the World Bank Policy Research Working Paper, the extreme poverty rate in India has declined from 5 percent in 2011 to 10.2 percent in 2019 & ie 12.3 percentage points lower in 2019 as compared to 2011.
• China sent a new satellite Zhongxing-6D into space from the Xichang Satellite Launch Center in southwest China’s Sichuan Province.
• Haryana has become the winner of the 12th Senior Men’s National Hockey Championship in the final, Haryana defeated Tamil Nadu 3-1 in the shootout after the final ended 1-1 in the regulation time.
• In the 131st year of Dr Bhimrao Ramji Ambedkar’s birth, Rajesh Talwar published “The Boy Who Wrote a constitution: A Play for Children on Human Rights.”
• Popular Odia singer and music director Prafulla Kar passed away following breathing difficulties