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By admin: Sept. 3, 2022

India overtakes United Kingdom to become fifth largest economy in the world: Bloomberg

Tags: Economy/Finance

According to a news report published by Bloomberg, India has overtaken the United Kingdom to become the 5th largest economy in the world.

India is now ranked behind the United States, China, Japan and Germany.

 Main highlights of the Bloomberg Report :

  • According to Bloomberg, the Indian economy overtook the United Kingdom economy at the end of December 2021.
  • According to Bloomberg at the end of March 2022, the Indian Gross Domestic Product (GDP) was $854.7 billion while the United Kingdom GDP was $$816 billion.

Gap between Indian and United Kingdom economy to grow :

Bloomberg expects the gap between the Indian and United Kingdom economy to grow in future.

The United Kingdom is facing the fastest inflation in four decades and rising risks of a recession that the Bank of England (Central Bank of the United Kingdom) says may last well into 2024. 

The United Kingdom economy has contracted by 0.1% in the second quarter (April-June) of 2022.

On the contrary, India's economy is likely to grow by over 7% this year and it is expected to be one of the fastest growing economies in the world. 

The International Monetary Fund (IMF)  own forecast show India overtaking the UK in dollar terms on an annual basis this year.  

A decade ago, India ranked 11th among the largest economies, while the United Kingdom was 5th.

Basis of Bloomberg calculation :

Bloomberg has used the GDP figures of both the countries from the International Monetary Fund database and converted them into US dollars using the latest exchange rate.

What is recession ?

When there is a negative growth in the economy for the two consecutive quarters then the economy is in recession. 

Recession leads to large scale closure of factories, loss of employment, and increase in unemployment, poverty and spread in social and political unrest in the country. 

Bloomberg :

Bloomberg is an American based global media and financial data and Analytics Company. It provides data service and news to financial companies and organizations.

Its Headquarters is in New York, United States of America. 

What is the Difference between United Kingdom and Great Britain 

United Kingdom 

It is an empire consisting of England, Wales, Scotland, and Northern Ireland

 Great Britain :

It includes England, Wales and Scotland.

The Queen of England is the Head of both United Kingdom / Britain

The capital of the United Kingdom/Great Britain is London. 

Saudi Arabia to launch new national carrier 'RIA'

Tags: International News

Saudi Arabia is finalizing the launch of its new international airline "RIA".

IMPORTANT FACTS -

  • The launch of this new project, backed by the Public Investment Fund of Saudi Arabia, has been underway for the past 12 months.
  • Once launched, it will become Saudi's second national carrier.

  • It will be based at Riyadh’s King Khalid International Airport.

  • This is unprecedented in the history of the Saudi Arabian aviation sector.

  • Saudi Arabia is targeting 30 million international transit passengers by 2030, while it currently stands at less than 4 million.

  • This will mean the new carrier would need to operate more than 150 routes globally in Europe, North America, South America, Africa and Asia.

  • This would require an investment of $30 billion.

  • Emirates currently flies to 158 destinations in 85 countries.

Saudi Arabia :

  • King - Salman

  • Capital - Riyadh

  • Currency - Saudi Arabian riyal

  • Official Language    - Arabic

  • Official Religion - Islam

RBI to launches pilot project to digitize Kisan Credit Card In MP and Tamilnadu

Tags: Economy/Finance State News

The Reserve Bank of India has decided to launch pilot projects to digitize Kisan Credit Cards (KCC) in Madhya Pradesh and Tamil Nadu to transform rural credit delivery systems and to improve the quality of credit delivery in the rural areas.

The Digitisation Project 

  • RBI will launch a pilot project for end-to-end digitalisation of Kisan Credit Card (KCC) lending, developed by the Reserve Bank Innovation Hub (RBIH) Bengaluru
  • The pilot project would entail automation of various processes within banks and integration of their systems with the service providers. 
  • The proposed digitalisation of the KCC lending process will make it more efficient, reduce costs for borrowers and reduce Turn Around Time (TAT) from loan application to disbursement significantly.

Where it will be launched 

The pilot project will commence in September 2022 in select districts of Madhya Pradesh and Tamil Nadu with Union Bank of India and Federal Bank, respectively, as partner banks and with active cooperation of the state governments.

Kisan Credit Cards (KCC)

  • It was introduced in India by banks in August 1998 to meet the agricultural credit needs of the farmers.
  • The model of KCC scheme was prepared by NABARD (National Bank for Agriculture and Rural Development) on the recommendations of RV Gupta Committee.
  • RBI set up a High Level Committee on Agricultural Credit through Commercial Banks in 1997. The committee was headed by RV Gupta. 

Supreme Court judge DY Chandrachud nominated executive chairman of National Legal Services Authority

Tags: Person in news

The President of India Droupadi Murmu has nominated Supreme Court judge Justice DY Chandrachud as the next executive chairperson of the National Legal Services Authority (NALSA).

IMPORTANT FACTS -

  • Chief Justice of India UU Lalit was the former working chairman of NALSA.
  • After the retirement of Chief Justice of India U U Lalit, Justice Chandrachud will take over as the 50th Chief Justice of India from November 2022.

  • Justice DY Chandrachud, a Supreme Court judge, has been a former Chief Justice of the Allahabad High Court and a former judge of the Bombay High Court.

  • Born in 1959, Justice DY Chandrachud was appointed a judge of the Supreme Court of India on 13 May 2016.

  • He holds an LLB degree from Campus Law Center, University of Delhi, LLM from Harvard Law School, USA and a doctorate in Judicial Science.

National Legal Services Authority (NALSA) :

  • It was established in 1995 under the Legal Services Authority Act, 1987.

  • It works to monitor and review the effectiveness of programs and develop rules and principles for providing legal services under the Act.

  • It distributes funds to state legal services authorities and non-profit organizations to help them execute legal aid systems and initiatives.

Purpose of Legal Services Authorities :

  • Free Legal Aid and Advice

  • Spreading Legal Awareness

  • Organizing Lok Adalats

  • Promote settlement of disputes through Alternative Dispute Resolution mechanism

64th Ramon Magsaysay award 2022 announced

Tags: Awards International News

The Ramon Magsaysay Award Foundation (RMAF), Manila, Philippines has announced the winners of the 64th Ramon Magsaysay award 2022 on 31 August 2022.

It is given to Individuals and organisation for providing solutions to some of the most challenging problems of human development in Asia or the world.

The award which is considered to be equivalent to the ‘Asian Nobel Prize’ will be given to Tadashi Hattori, Gary Bencheghib, Sotheara Chhim, and Bernadette J. Madrid on 30 November 2022.

Awardee of 2022 

Sotheara Chhim

He is from Cambodia. He has been honoured for his role as an Psychiatrist and mental health advocate who has played a key role in providing treatment of thousands of traumatized survivors of the Khmer Rouge's brutal rule and other patients in his country 

Tadashi Hattori 

He is from Japan. He is an ophthalmologist and humanitarian who has been honoured for his commitment in providing free eye surgeries in Vietnam.

Bernadette J.Madrid

 She is a paediatrician from the Philippines. She has been honoured for her work as championing the Filipino child’s right to protection by creating safe spaces for abused children nationwide.

Gary Bencheghib

 He is from France. He has been honoured for his work in eradicating marine plastic pollution in Bali, Indonesia.

Ramon Magsaysay Award  

  • The Ramon Magsaysay Award was founded in 1957 in memory of the Philippines President Ramon Magsaysay who died in a plane crash in 1957.
  • The award was established by the American philanthropist  Rockfellers Brothers fund.
  • The first award was given on 31 August 1958 and Vinoba Bhave of India was amongst the first five awardee.
  • It was till 2008 given in 6 categories annually. They were Community Leadership,Public Service, Government Service, Journalism, Literature, and Creative Communication Arts,Peace and International Understanding,Emergent Leadership.
  • Starting in 2009, the Ramon Magsaysay Award is no longer being given in fixed Award categories, except for Emergent Leadership.

Telangana to celebrate National Integration Day for 3 days

Tags: State News

The Telangana government on 3 September 2022 announced that September 17 will be celebrated as the Telangana National Integration Day. Celebrations will be conducted officially across the state for three days from September 16 to 18.

Telangana Liberation Day is observed on 17 September to mark the popular rebellion against the ruler of Hyderabad, Nizam after Independence. It subsequently led to the Police action by India, code named ‘operation polo in 1948 and the Hyderabad princely state was merged with India.

Telangana is considered to be the successor state of Hyderabad princely state.

Controversy over Telangana Liberation Day 

The Central government announced that it will conduct ‘Telangana Liberation Day’ this year on September 17, 2022.

In response, Hyderabad MP Asaduddin Owaisi on 3 September 2022 wrote to Union Home Minister Amit Shah and Telangana chief minister K Chandrashekar Rao demanding that the celebrations of Hyderabad Liberation Day should instead be celebrated under the title of National Integration Day.

It was agreed to by the Chief Minister of Telangana K. Chandrashekar Rao who doesn't have a good relationship with the BJP led Central Government.

Telangana 

It was the 29th state (now there are 28 states in India) to be formed on 2nd June 2014. It was separated from Andhra Pradesh. 

The Telangana region was part of the Hyderabad state from Sept 17th 1948 to Nov 1st 1956, until it was merged with Andhra state to form the Andhra Pradesh state.

Capital: Hyderabad

District: 33

Governor: Dr. Tamilisai Soundararajan

Four icons of the State:

  • The State Bird - Palapitta (Indian Roller or Blue Jay).
  • The State Animal - Jinka (Deer).
  • The State Tree - Jammi Chettu (Prosopis Cineraria).
  • The State Flower - Tangedu (Tanner’s Cassia).


Crime Multi Agency Centre (Cri-MAC)

Tags: National National News

At least seven states and one union territory have not uploaded a single alert on the Crime Multi Agency Centre (Cri-MAC) portal since its launch in March 2020.

Important facts

  • West Bengal, Andhra Pradesh, Bihar, Chhattisgarh, Mizoram, Manipur, Nagaland and Sikkim and the Union Territories of Dadra, Nagar Haveli and Daman and Diu have not uploaded a single alert on the platform.

  • Delhi, Assam and Haryana uploaded the highest number of alerts on the portal.

About Crime Multi Agency Centre (Cri-MAC)

  • Launched - 2020 by the Ministry of Home Affairs(MHA)

  • Objective - To share information on crime and criminals 24×7 with various law enforcement agencies and ensure seamless flow of information between them.

  • Implementation - The application is implemented by National Crime Records Bureau (NCRB).

Significance of the portal

  • It facilitates dissemination of information on important crimes including human trafficking across the country on a real time basis and enables inter-state coordination.

  • It helps in the detection, identification of victims of trafficking as well as in crime prevention and investigation.

GMR Group to sell its entire 40% stake in Philippines' Cebu airport

Tags: Economy/Finance International News

The New Delhi based Multinational GMR Group, on 2 September 2022, has said that it will divest its entire 40 per cent stake in Cebu international airport in Philippines for a payment of Rs 1,330 crore.

However the GMR will continue to provide consultancy service to the Airport till 2026 and will earn revenue for it.

According to GMR, the company will now focus on high growth opportunities. It will now use the capital to invest in the Kualanamu International Airport at Medan, Indonesia. The Kualanamu International Airport is being developed and operated by GMR Airports International.

Mactan Cebu International Airport 

It is the second largest Airport of the Philippines after the Ninoy Aquino International Airport Manila.

In 2014, GMR Infrastructure in partnership with Megawide Construction Corporation of Philippines won the bid to operate and develop the Mactan Cebu International Airport. 

Both the Megawide Construction Company and GMR are selling their stake to Aboitiz InfraCapital Inc. of Philippines.

Currency of Philippines: Philippine pesos

GMR Airports International

GMR Airports International is a subsidiary of GMR Infrastructure Ltd 

GMR Group operates the IGI Delhi International Airport, Rajiv Gandhi Hyderabad International Airport and Bidar Airport in (Karnataka).

It is building a Greenfield airport at Mopa in North Goa and an International Greenfield Airport at Bhogapuram, Vizianagaram, and Andhra Pradesh.

It is the only Indian company to develop and operate foreign International airport. It is developing airports in Indonesia, Greece.

The GMR group was founded by Grandhi Mallikarjuna Rao. It is in the business of Infrastructure, Energy, transportation etc. 

India becomes the second largest market for wearable watches in the world

Tags: Economy/Finance

India has surpassed China to become the second biggest smartwatch market in the world. According to the United Kingdom based market research company, Counterpoint, at the end of June 2022 quarter, the Indian market grew by 347% as compared to the same period last year. During the June 2022 quarter the global market grew at just 13%. 

Main Points of the report 

North America remains the largest smartwatch market in the world with a shipment of 26% of the global market.

India was the second largest market in the world with a shipment of 22% of the global market.

China remained the third largest market with a shipment of 21% of the global market.

Smartwatch Brand in the world 

 The world's largest smartwatch company was Apple accounting for 29.3% of the overall shipments, followed by Samsung (9.2%), Huawei (6.8%).Fire-Boltt (6.3%) and Noise (5.9%).

Fire-Bolt and Noise are Indian companies and they have been included in the top five companies of the world for the first time.

IndusInd Bank with ADB sets up partial guarantee to finance MSME in supply chains

Tags: Economy/Finance

IndusInd Bank has signed an agreement with the Asian Development Bank (ADB) for a partial guarantee programme with an initial outlay of $70 million (Rs 560 crore), for supply chain financing.

Under this agreement ADB will provide partial credit guarantees to lenders. 

It means that if the customer defaults on loan repayment which is covered under the partial guarantee then ADB will pay the guaranteed portion of the principal and interest to the bank.

The IndusInd bank hopes to increase its business in the Micro Small and Medium Enterprise (MSME) financing through this partnership.

IndusInd Bank 

It is a scheduled commercial private sector bank .The bank was set up by the Hindujas group in 1994.

Headquarters: Mumbai 

Managing Director and Chief Executive Officer: Suman Kathpalaia 

Tagline of the Bank: We Care Dil Se : We Make You Feel Richer 

Asian Development Bank 

  • It was set up in 1966.
  • Its headquarters is at Mandaluyong City, Manila, Philippines 
  • Total member countries : 68 
  • President of ADB : Masatsugu Asakawa of Japan

The Indian economy grew by 13.5% in the first quarter of the financial year 22-23

Tags: Economy/Finance

The Indian economy grew by 13.5% in the April to June (2022-23) as compared to the same period last year. However it was below the Reserve Bank of India 16.2 % forecast for the first quarter.

The data regarding the performance of the Indian economy in the first quarter of the fiscal year 20222-23 was released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation on 31st August 2022.

India still remains the fastest growing major economy in the world. The Chinese economy grew by 0.4% during April -June 2022.

The growth rate of the Indian economy in 2021-22 was 8.7%.

GDP growth rate at constant price (2011-12 base year) 

Sector of Economy

Growth rate of Q1(April-June) GDP in  2022-23

Agriculture 

4.5%

Industry

8.5%

Service sector 

17.6%

GDP

13.5%

Gross value Addition (GVA) 

12.7%

GVA=GDP + subsidies on products – taxes on products.

Nominal GDP

The Nominal GDP at Current Prices in Q1 2022-23 is estimated at Rs 64.95 lakh crore against Rs 51.27 lakh crore in Q1 2021-22, showing a growth of 26.7 per cent compared to 32.4 per cent a year ago.

 While calculating the nominal GDP the market price of goods and services are included. It makes no adjustment for inflation 

GDP at Constant Price or Real GDP

The Real Gross Domestic Product (GDP) at Constant Price (2011-12) in Q1 2022-23 is estimated at Rs 36.85 lakh crore, as against Rs 32.46 lakh crore in Q1 2021-22, showing a growth of 13.5.

While calculating the GDP at constant price the price rise in the goods and services due to inflation is not counted. Prices are fixed to a base year (2011-12). It measures the actual increase in the production of goods and services. 

GDP at constant price is the best indicator to measure the growth of an economy.

Expected GDP growth rate in fiscal year 2022-23

The Reserve Bank of India expects the Indian Economy to grow by 7.2% in 2022-23.

The Union Finance Secretary T V Somanathan said that the Finance Ministry expects the growth rate of the economy to be 7-7.5% in the current fiscal year (2022-23).

CCRAS ‘SPARK’ Program to Support Innovative Research in Ayurveda

Tags: National National News

The Central Council of Research in Ayurvedic Sciences (CCRAS) has prepared the 'Studentship Program for Ayurveda Research Ken’ (SPARK) for the students of Ayurveda (BAMS) studying in recognized Ayurveda colleges.

IMPORTANT FACTS -

  • Pramod Kumar Pathak, Special Secretary, Ministry of AYUSH, Government of India and Vaidya Jayant Yashwant Devapujari, Chairman, National Commission for Indian System of Medicine (NCISM) launched this fellowship scheme and its application portal at an event held on 2nd September, 2022.

Studentship Program for Ayurveda Research Ken (SPARK) :

  • SPARK is a unique initiative to support the research efforts of young talent of the country.

  • The SPARK program has been developed primarily to help students develop research skills and to further support and encourage their research ideas.

  • The application process for SPARK will be completely online through the portal www.spark.ccras.nic.in.

  • Interested candidates have to submit their research proposal through SPARK portal. 

  • These proposals will be evaluated by eminent experts and reviewers.

  • Under this fellowship, a financial assistance of Rs 50,000 will be offered to the selected research scholar.

  • Initially, there will be a total of 100 seats in each session.

Purpose of SPARK :

  • It aims to support the research ideas of young undergraduate students enrolled in Ayurveda colleges across the country.

Central Council of Research in Ayurvedic Sciences (CCRAS) :

  • CCRAS is an institute located in New Delhi to promote Ayurvedic science and research work on it in the country and abroad.

  • The Council is currently working on various R&D projects in collaboration with leading research institutions from Romania, Germany, Israel, USA, Canada and the World Health Organisation (WHO).

  • In order to complement the efforts of the Ministry of AYUSH for the promotion and dissemination of Ayurveda education across the world, the Council has partnered with leading educational institutions across the world and established Ayurveda Chairs in 11 countries.

United States announces hosting first-ever US-Pacific Island Country Summit

Tags: Summits International News

The United States has announced to host the US-Pacific Island Country Summit for the first time in the last week of this month amid China's growing influence in the Indo-Pacific region.

IMPORTANT FACTS -

  • This summit will be held in Washington from 28 to 29 September.
  • US President Joe Biden will host the summit.

  • The summit will showcase the United States' deep and enduring partnership with Pacific island countries and the Pacific region that is based on shared history, values, and people-to-people ties.

  • The conference was announced a week after the US accused Beijing of expanding its nuclear arsenal.

  • The US has claimed that the process of building an excessive nuclear arsenal by China could harm the stability of the Indo-Pacific region.

  • The White House has invited 12 Pacific Island countries, including the Solomon Islands, which signed a security pact with China in April 2022.

About  Indo-Pacific :

  • It covers half of the world's population and more than 60 percent of the global GDP.

  • It is a geopolitical region that spans two regions of the Indian Ocean and the Pacific Ocean.

  • Extending from the west coast of the United States of America to the west coast of India, the Indo-Pacific is a regional structure of 24 countries.

  • It includes the tropical waters of the Indian Ocean, western and central Pacific Ocean.

On the lines of Delhi NCR, 'State Capital Region' will be made in UP

Tags: State News

Uttar Pradesh Chief Minister Yogi Adityanath on 2 September proposed to create an Uttar Pradesh State Capital Region (UPSCR) on the lines of Delhi National Capital Region(NCR). 

IMPORTANT FACTS -

  • In the proposed SCR in the state, besides Lucknow, six other districts including Unnao, Sitapur, Rae Bareli, Barabanki, Kanpur Nagar and Kanpur Dehat have been asked to prepare the proposal soon.
  • In this context, the Chief Minister has directed the officials of the Housing Department to provide an action plan for the formation of SCR at the earliest.

Instructions for the upgradation of various cities of the state :

  • In view of the increasing trend of passengers in metro service in Lucknow, the Chief Minister has asked to prepare a proposal to start the second phase metro service in a week.

  • Instructions have also been given to start the Lucknow Green Corridor soon and to expand the limits of the Municipal Corporation.

  • At the same time, it has also been asked to expedite the process of revival of wetlands in Butler Lake and CG City.

  • He has also directed to select 35 acres of land and decorate Avadh Shilpgram and Kakori Shaheed Smriti Udyan with dynamic lighting to build a modern convention centre in the capital.

  • The Chief Minister has asked to prepare a city development plan for the planned development of big cities of the state.

  • At present, the Chief Minister has given instructions to prepare city development plans for Lucknow, Kanpur, Gorakhpur, Moradabad, Saharanpur, Jhansi, Mathura, Bareilly, Meerut, Agra, Chitrakoot, Varanasi and Prayagraj.

  • Whereas under the 2021 policy, the urban logistics plan for Ghaziabad, Prayagraj, Agra, Lucknow, Kanpur, Varanasi and Meerut has been asked to be prepared soon.

  • The Chief Minister has asked the officials to prepare a master plan keeping in mind the needs of the next 50 years in view of the rapidly growing urban population.

Yamuna Kumar Chaubey gets charge of NHPC chairman and managing director

Tags: Person in news

Yamuna Kumar Choubey has been appointed as the Chairman and Managing Director of state-owned hydroelectric power company NHPC for a period of three months.

IMPORTANT FACTS -

  • Abhay Kumar Singh retired as the Chairman and Managing Director (CMD) of the company on August 31, 2022.
  • Choubey has been appointed for a period of three months with effect from September 1, 2022, or till regular appointment to the post, or until further orders, whichever is earlier.

  • Choubey, 59, is a civil engineering graduate from IIT Kharagpur.

  • He joined NHPC Limited in 1985 as Probationary Executive (Civil) in the 540 MW Chamera Hydro-Electric Project.

  • Presently he is Director (Technical) in NHPC and also holding additional charge of Director (Personnel), NHPC.

  • He has experience in all aspects of hydropower project development and has contributed to the development of NHPC.

About NHPC Ltd :

  • It is a Mini-Ratna Category-I Enterprise of the Government of India. 

  • It is one of the largest organisations in the field of hydro power development in the country.

  • The company is a hydroelectric power generating company. 

  • It is dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India.

  • It was incorporated on November 7 1975 as a private limited company. 

  • The company was converted into a public limited company on 2 April 1986.

RBI gives lenders time till end-November to comply with new digital loans guidelines

Tags: Economy/Finance

The Reserve Bank of India (RBI), has given lenders until the end of November to put in place systems and processes to ensure existing digital loans are in compliance with the regulator's rules issued on 10 August 2022. This direction was issued by the RBI on 2 September 2022.However, for new and existing customers availing fresh loans, these norms will be applicable immediately.

The Reserve Bank of India on 10 August issued detailed guidelines that will increase scrutiny and supervision over digital lending apps and lenders who engage with them on 10 August 2022. This was done by RBI after receiving many reports of malpractices by the digital lending apps and lenders who engage with them. 

Digital lenders are those entities which provide loans online. The entire process takes place online and there is no physical interface between the lender and the borrower.

Working Group on Digital lending 

RBI had set up a working group on ‘digital lending including lending through online platforms and mobile apps’ (WGDL) on January 13, 2021, with Jayant Kumar Dash, Executive Director, RBI as the Chairman.  

The working group was set up by the RBI after there were several complaints of malpractices by the online lending apps.

Main points of the RBI Guidelines 

Classification of online lenders 

RBI has classified the online lenders into three categories;

  • entities regulated by the RBI and permitted to carry out lending business; 
  • entities authorized to carry out lending as per other statutory/regulatory provisions but not regulated by RBI; and
  •  Entities lending outside the purview of any statutory/ regulatory provisions.

Guidelines applicable on which category of entities 

RBI has said that its guidelines will be applicable on entities (Banks, NBFC) that are regulated by the central bank and the lending service providers (LSPs) engaged by them. Lending service providers are the intermediary between the regulated entities and the borrower. In simpler terms it is an online platform which brings the lender and the borrower online.

Guidelines of RBI 

  • All loan disbursals and repayments are required to be executed only between the bank accounts of the borrower and the regulated entities. It shall not be routed through any LSP or third party.
  • Any fees, charges, etc., payable to LSPs in the credit intermediation process has to be paid directly by the regulated entity and not by the borrower.
  •  The all-inclusive cost of digital loans in the form of Annual Percentage Rate (APR) is required to be disclosed to the borrowers. 
  • There cannot be an automatic increase in the credit limit without explicit consent of the borrower.
  • Any lending sourced through DLAs (Digital Lending Apps) have to be reported to Credit Information Companies (CICs) by regulated entities irrespective of its nature or time period. This is particularly important given a number of 'buy now, pay later' players were not reporting the loans they were offering to CICs.
  •  RBI has said the data collected by Digital lending Apps  (DLAs) has to be need based, they should have clear audit trails and should be only done with prior explicit consent of the borrower.

National Rifle Association announces Indian squad for ISSF World Championship

Tags: Sports Sports News

The National Rifle Association of India (NRAI) has announced a 48-member Indian Rifle and Pistol team for the upcoming ISSF World Championship in Cairo, Egypt.

Important facts

  • London Olympics silver medalist Vijay Kumar is returning for his first international event after four years.

  • He will face Anish Bhanwala and Vijayveer in the Rapid Fire Pistol Squad.

  • World Championships silver medalist in air rifle Olympian Anjum Moudgil will compete in the rifle three positions event.

  • Rhythm Sangwan and Isha Singh will compete in both Air Pistol and Sports Pistol events.

  • Vijayveer Sidhu will compete in both the Air Pistol and Rapid Fire Pistol events. His twin brother Udayveer Sidhu will be seen in the Junior Rapid Fire Pistol event.

ISSF World Championship

  • The World Championships will be held in Cairo from October 12 to 25, 2022.

  • There will be four Olympic quota places in the men's and women's categories.

  • The championship is administered by the International Shooting Sport Federation (ISSF).

  • These championships, including all shooting events of the ISSF, have been held every four years since 1954.

Special maternity leave in case of infant death

Tags: National National News

All women employees of the Central Government will get 60 days special maternity leave in case of immediate death of a newborn baby or birth of a stillborn child.

Important facts

  • According to the Ministry of Personnel, Public Grievances and Pensions, this decision has been taken keeping in mind the mental agony of death of the child before birth or soon after birth.

  • The ministry said that such cases have far-reaching effects on the life of the mother.

  • If the child dies immediately after birth or within 28 days, the mother will be eligible for special maternity leave.

  • This special leave will be given to the mother even if the baby dies in the womb after 28 weeks or so.

  • Special Maternity Leave will be given to only those women employees of the Central Government who have less than two surviving children and the delivery takes place in an authorized hospital.

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