DAILY CURRENT AFFAIRS

By admin: June 15, 2022

Anand Mahindra, Venu Srinivasan nominated to join RBI board

Tags: Economy/Finance Person in news

The central government has nominated three industrialists – Anand Gopal Mahindra, Venu Srinivasan, and Pankaj Ramanbhai Patel and an educationist (Ravindra H. Dholakia) as part-time non-official directors on the central board of the Reserve Bank of India.

• Anand Gopal Mahindra is chairman of Mahindra Group.

• Venu Srinivasan is chairman of TVS Motor Company Ltd.

• Pankaj Ramanbhai Patel is chairman of Zydus Lifesciences.

• Ravindra H. Dholakia is a retired professor of IIM, Ahmedabad. He is a former member of the Monetary Policy Committee.

• The appointment of new part-time non-official directors is for a period of four years with effect from June 14 or until further orders, whichever is earlier.

• After the above appointments, the Central Board of RBI now has 15 members, in which five official members and 10 non-official members.

• The tenure of non-official part-time directors is four years.

• Central board of the Reserve Bank of India

• The central government appoints the Board in accordance with the RBI Act, 1934.

• The total strength of the board is 21, consisting of governors and a maximum of four deputy governors.

• The Board is required to meet at least six times a year and at least once in every quarter.

• The board usually meets at least once in Delhi when the finance minister addresses the entire board after presenting the budget for the coming year.

• Apart from Delhi and Mumbai, the board usually meets in various state capitals.

• The governor takes the advice of the board, but ultimately his decision is unanimous.

• Deputy governors and government nominees may attend any or all meetings of the Central Board, but are not entitled to vote.

• About Reserve Bank of India

• Established on April 1, 1935 as per the provisions of the Reserve Bank of India Act, 1934.

• The central office of the Reserve Bank was initially established in Calcutta but was permanently shifted to Mumbai in 1937.

• In the Central Office the Governor sits and policies are formulated.

• The affairs of the Reserve Bank are handled by a central board of directors.

Cabinet approves development of new Dholera greenfield airport in Gujarat

Tags: State News

On June 14, the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved the proposal for phase 1 development of the new greenfield airport at Dholera, Gujarat.

• Estimated cost of the project is Rs 1305 crore and will be completed by 2025-26.

• The project is being implemented by Dholera International Airport Company Limited (DIACL).

• DIACL is a Joint Venture Company comprising Airports Authority of India (AAI), Government of Gujarat (GoG) and National Industrial Corridor Development and Implementation Trust (NICDIT) holding equity in the ratio of 51:33:16.

• About Dholera Airport

• It is situated at a distance of 80 Km from Ahmedabad Airport.

• It is being constructed to facilitate passenger and cargo traffic from the Dholera Special Investment Zone (DSIR), which is expected to make the industrial area a major cargo hub.

• The airport will serve as a second airport to Ahmedabad.

• The initial passenger traffic is estimated to be three lakh passengers per year, which is expected to increase to 23 lakh over a period of 20 years.

• Annual cargo traffic of 20,000 tonnes is also projected from the year 2025-26, which will increase to 2.73 lakh tonnes over a period of 20 years.

• What is Greenfield Airport?

• The Government of India has formulated the Greenfield Airport Policy, 2008.

• This policy provides the existing guidelines for the development of greenfield airports in the country.

• The term 'Greenfield' is derived from software engineering.

• It refers to a project that is not hindered by prior work.

• Such airports are constructed to meet the anticipated requirements of the existing airport traffic.

• At present, there are 29 international airports in India. With the establishment of nine greenfield airports, the total number will reach 38.

First National Conference of Chief Secretaries begins in Dharamsala, Himachal Pradesh

Tags: National News

A three-day first National Conference of Chief Secretaries is being organized in Dharamsala, Himachal Pradesh from 15th June.

• Prime Minister Narendra Modi will preside over the first National Conference of Chief Secretaries.

• More than 200 participants representing the Central Government, all States/UTs and domain experts will participate in the conference.

• Conference will focus on the fast and sustained economic growth in partnership with the States.

• This conference will lay the foundation for collaborative action for sustainable agriculture, employment generation, education, ease of living and higher development with self-reliance.

• The conference will lay emphasis on the development agenda and implementation and will lay down a roadmap for cohesive action to achieve the aspirations of the people.

• The concept and agenda of the conference has been prepared after more than 100 rounds of talks in six months.

• The result of the conference will be discussed later in the Governing Council meeting of NITI Aayog, in which Chief Ministers and Administrators of all the States and Union Territories will be present.

• Thereafter an action plan will be finalized with broad consensus at the highest levels.

• Three themes identified for detailed deliberations-

1. Implementation of the National Education Policy

2. Urban governance

3. Crop diversification and achieving self-sufficiency in oilseeds, pulses and other agri-commodities.

Four holy relics of Lord Buddha from Kapilvastu placed at Gandan Monastery in Mongolia

Tags: Popular International News

Four sacred relics of Lord Buddha were kept at the Gandan Monastery in Mongolia from Kapilvastu, India, to mark the Mongolian Buddha Purnima celebrated on June 14.

• Four sacred Kapilavastu relics brought from India by a delegation led by Union Law and Justice Minister Kiren Rijiju, and other relics from Mongolia will be displayed at Gandan for Buddhist devotees to visit till June 24.

• Four holy relics from India were brought to Mongolia on 13 June. 

• A 25-member delegation led by Law and Justice Minister Kiren Rijiju has arrived in Mongolia with the holy relics.

• The main Buddha statue at Gandan Monastery was gifted to the people of Mongolia by Prime Minister Narendra Modi in 2015 and was installed in 2018.

• The Kapilvastu relic is one of the 22 special relics housed in the National Museum of the Ministry of Culture.

• What are the holy relics?

• According to Buddhist belief, Buddha attained salvation at the age of 80 in Kushinagar (Uttar Pradesh).

• The Mallas of Kushinagar performed his last rites as a universal king.

• The relics from the funeral pyre were collected and divided into eight shares.

• It was distributed among the Licchavis of Vaishali, Sakyas of Kapilavastu, Ajathsatrus of Magadha, Mallas of Kushinagar, Mallas of Pava, Bullies of Allakappa, Koliyas of Ramagrama and a Brahmana of Vethadipa.

• Its purpose was to build stupas over the sacred relics. 

• The stupas over the bodily remains of Buddha (Sarrika Stupa) are the oldest surviving sacred places of Buddhism.

• Ashoka (272-232 BCE), an ardent follower of Buddhism, is believed to have built seven stupas.

• Kapilvastu Relics

• The discovery of an inscribed coffin at the stupa site at Piprahwa (near Siddharthnagar in Uttar Pradesh) helped identify ancient Kapilavastu.

• The inscription on top of the coffin mentions the relics of the Buddha and his community, the Shakyas.

• Records from the Union Ministry of Culture show that this discovery was followed by several explorations.

• The excavation of the stupa by the Archaeological Survey of India in 1971-77 led to the discovery of two other relic coffins containing 22 sacred bone remains, which are now under the supervision of the National Museum.

• This was followed by the discovery of more than 40 terracotta ceilings which establish that Piprahwa was the ancient city of Kapilvastu.

Iran starts transfer of Russian goods to India by using new trade corridor

Tags: International News

Iran started its first transfer of Russian goods to India, using a new trade corridor that transits the Islamic Republic. 

• The cargo will pass through the International North-South Transport Corridor (INSTC).

• The cargo ship left St. Petersburg for the Caspian Sea port city of Astrakhan.

• It will reach the northern Iranian port of Anjali and then by road to the southern port of Bandar Abbas on the Persian Gulf.

• From Bandar Abbas it will reach India by ship at Jawaharlal Nehru Port Trust (JNPT).

• International North–South Transport Corridor (INSTC)

• It is a multi-modal transport established by Iran, Russia and India on 12 September 2000 in St Petersburg.

• It is a 7,200 kilometre long multi-mode network of shipping, rail and road transport for freight.

• India, Iran, Afghanistan, Azerbaijan, Russia, Central Asia and Europe are involved in the corridor.

• Its main purpose is to promote transportation cooperation among the Member States.

• It connects the Indian Ocean to the Caspian Sea via the Persian Gulf to Russia and northern Europe.

• Significance of INSTC

• It aims to reduce the cost of movement of goods between India and Russia by about 30 percent and reduce transit time by more than half.

• It will provide an alternative connectivity initiative to countries in the Eurasian region.

• It has the potential to transform countries' economies into specialized manufacturing, logistics and transit hubs.

• It opens a sustainable alternative route for India to trade with Afghanistan and Central Asia.

Cabinet approves MoA for setting up BIMSTEC tech transfer centre in Colombo

Tags: International News National News

The Union Cabinet has approved a memorandum of association (MoA) by India for the establishment of BIMSTEC Technology Transfer Centre in Colombo, Sri lanka.

• The MoA was signed by the BIMSTEC member countries at the 5th BIMSTEC Summit held at Colombo, Sri Lanka on 30th March, 2022.

• Objective of Technology Transfer Centre

• To strengthen coordination, facilitation and cooperation in technology transfer among BIMSTEC member states.

• Promoting the transfer of technologies, sharing of experiences and capacity building.

• Priority areas

• Biotechnology, Nanotechnology, Information and Communication Technology, Space technology applications, Agricultural technology, Food processing technology. 

• Pharmaceutical technology automation, New and renewable energy technology automation, New and Renewable energy technology, Oceanography.

• Nuclear Technology Applications, E-waste and solid waste management technology, Health Technologies, Technologies pertinent to Disaster Risk Reduction and Climate Change Adaptation.

• Expected outcomes

1. Databank of technologies available in BIMSTEC Countries

2. A repository of information on best practices in the areas of technology transfer management, standards, accreditation, metrology etc.

3. Capacity building, sharing of experiences and best practices in development

4. Transfer and use of technologies among BIMSTEC countries

• About BIMSTEC

• It was set up as Bangladesh, India Sri Lanka and Thailand Economic Cooperation (BIMSTEC) on 6 June 1997 at Bangkok, Thailand.

• It was renamed as  Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation on 31 July 2004 when the first summit meeting was held in Bangkok, Thailand.

• The member countries are Bangladesh, Bhutan India, Maldives ,Myanmar ,Nepal, Sri Lanka and Thailand.

• The group was formed to promote economic cooperation between the member countries.

• Headquarters : Dhaka, Bangladesh

Please follow news of 29 march 2022 for more information

President lays foundation stone for new Raj Bhavan in Goa

Tags: State News

President Ram Nath Kovind on 15 June laid the foundation stone of the New Raj Bhavan building in Dona Paula, Goa near the capital Panaji. 

• The construction of the existing building began in the 16th century, which became the Governor's House at the end of the 19th century.

• The new building is being constructed in the premises of the existing Governor's House, which was constructed during the then Portuguese rule.

• While constructing the new building, care will be taken to reduce the impact of climate change by taking steps like rainwater harvesting.

• The new building is inspired by Rashtrapati Bhavan, other Raj Bhavans and Goa architecture.

• Governor P S Sreedharan Pillai, Chief Minister Dr Pramod Sawant and other leaders were present on this occasion.

• About Goa

• Capital - Panaji

• Established - 30 May 1987

• District - two

• Official language - Konkani

• High Court - Bombay High Court bench in Panaji

• Governor - P S Sreedharan Pillai

• Chief Minister - Dr Pramod Sawant

Khelo India Youth Games 2021 concludes, Haryana on top with 137 medals

Tags: Sports News

Host Haryana secured the first position in the medal tally by winning a total of 137 medals including 52 gold medals.

• Maharashtra finished second with 125 medals including 45 gold.

• Karnataka finished third with 67 medals, winning 22 gold, 17 silver and 28 bronze.

• Host Haryana fielded the largest contingent with 398 athletes, followed by Maharashtra with 357 athletes. A total of 33 states won at least one medal in KIYG 2021 while 28 won at least one gold.

• Karnataka swimmer Anish Gowda won the maximum six gold medals.

• This was Haryana's second KIYG title. Haryana won the inaugural title in 2018 but finished second behind Maharashtra in the next two seasons.

• Khelo India Youth Games 2021

• Fourth Khelo India Youth Games was organised from June 4 to 13 at Tau Devi Lal Stadium in Panchkula(Haryana), while some of its matches were also played in Chandigarh.

• The 4th Khelo India Youth Games was formally inaugurated by the Union Home Minister Amit Shah.

• In the Khelo India Youth Games 2021, 4,700 athletes competed for 269 gold, 269 silver and 358 bronze in 25 sports, including 2,262 girls.

• For the first time, five traditional sports have been included in the fourth Khelo India Youth Games. These games include Gatka, Kalaripayattu, Thang-Ta, Malkhamb and Yoga.

• Among them, Gatka, Kalaripayattu and Thang-Ta are traditional martial arts, while Mallakhamb and Yoga are fitness related sports.

• This time Khelo India Youth Games is being jointly organised by Haryana Government and Sports Authority of India (SAI), Union Ministry of Youth Affairs and Sports.

• This competition was started in 2018 in New Delhi under the name Khelo India School Games.

• The mascot of Khelo India Youth Games-2022 will be in the form of a cow, named 'Dhakad'.

Cabinet approves auction of 5G spectrum

Tags: National

The Union Cabinet has approved the proposal of the Department of Telecommunications (DoT) to conduct a 5G spectrum auction by the end of next month.

• The successful bidders will be assigned spectrum for providing 5G services.

• A total of 72097.85 MHz spectrum with a validity period of 20 years will be auctioned by the end of July 2022.

• The auction will be held for spectrum in various Low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), Mid (3300 MHz) and High (26 GHz) frequency bands.

• The auction will be conducted for spectrum in various low, medium and high frequency bands.

• DoT has started spectrum auction and Notice Inviting Applications (NIA) has been issued on 15th June 2022.

• What is 5G technology?

• The fifth generation mobile network is called 5G.

• The 5G network will operate in the millimeter-wave spectrum (30-300 GHz) which can send huge amounts of data at very high speeds.

• It is the newest upgrade in Long Term Evolution (LTE) mobile broadband networks.

• Internet speeds in the high-band spectrum of 5G have been tested to exceed 20 Gbps (gigabit per second).

World Elder Abuse Awareness Day

Tags: Important Days

World Elder Abuse Awareness Day is observed every year on 15 June.

• The aim of the day is to draw attention to the impact of elder abuse.

• The day promotes awareness of abuse (verbal, physical or emotional) of the elderly population around the world.

• According to the World Health Organization (WHO), nearly one in six people over the age of 60 suffer from abuse.

• This means around 141 million people are affected globally.

• This year, World Elder Abuse Awareness Day will be remembered with two important events.

1. Beginning of the United Nations Decade for Healthy Ageing (2021–2030).

2. The 20th Milestone of the Second World Assembly on Aging and the Fourth Review and Evaluation of the Implementation of the Madrid International Plan of Action on Aging (MIPAA).

• History and significance of the day

• The day began to be observed in June 2006 following a request to declare June 15 as a special day for the elderly.

• The day was officially recognized by the United Nations General Assembly in the year 2011.