DAILY CURRENT AFFAIRS

By admin: July 5, 2022

Govt hands over Nilachal Ispat Nigam Limited to Tata Steel Long Products Limited

Tags: Economy/Finance

In Odisha, the Department of Investment and Public Asset Management (DIPAM) completed the strategic disinvestment process of Neelachal Ispat Nigam Limited (NINL) on 4 July.

• The disinvestment transaction was completed with the transfer of 93.7 per cent shares of the Joint Venture partners namely, MMTC, NMDC, BHEL, MECON. 

• All four are Central Public Sector Enterprises and two PSUs of Government of Odisha, OMC and IPICOL to the strategic buyer Tata Steel Long products Limited.

• The acquisition is completed in accordance with the terms and conditions of the share sale and purchase agreement entered into on March 10, 2022 and as per the procedure of Department of Disinvestment and Public Asset Management (DIPAM).

• The total consideration paid by TSLP is Rs 12,100 crore.

• NINL is the second successful privatization of the present government.

• Air India, the first company in the privatization list, was also bought by the Tata group.

• There is also a plan to increase the capacity of NINL to 10 million tonnes per annum by 2030.

• The NINL was non-functional for over two years.

• NINL was not functioning for more than two years and was running at a loss.

• The disinvestment of the NINL will open up a big investment window in Odisha.

• About Tata Steel

• Tata Steel was established in India in 1907 as Asia's first integrated private steel company.

• It is one of the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum.

• It is spread across five continents with an employee base of over 65,000 including its subsidiaries, affiliates and joint ventures.

• Tata Steel has won several awards including World Economic Forum's Global Lighthouse Recognition for its Jamshedpur, Kalinganagar and I Jamuiden plants.

• It has won the Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17.

Hotels, restaurants can't force customers to pay service charge

Tags: National News

The Central Consumer Protection Authority (CCPA) on July 4 barred hotels and restaurants from adding service charges "automatically or by default" to food bills.

• If any restaurant or hotel collects service charges from customers, then they can file a complaint.

• If any restaurant or hotel collects service charges from customers, then they can file a complaint on the National Consumer Helpline (NCH).

• A complaint can also be lodged with the Consumer Commission or the District Collector in this regard.

• The consumer can also file a complaint against unfair trade practice with the consumer commission through the e-daakhil portal.

• No hotel or restaurant shall compel any customer to pay service charges.

• Paying service charges will depend on the customer whether to be paid or not.

• Central Consumer Protection Authority (CCPA) 

• The Central Consumer Protection Authority (CCPA) has been set up under the Consumer Protection Act, 2019.

• Its primary objective is to promote, protect and enforce the rights of consumers.

• It is empowered to inquire into the violation of consumer rights and initiate complaints/prosecution proceedings.

• It shall consist of following members appointed by Central Government-

1. Chief Commissioner

2. Two Commissioners, they will each represent goods and services.

• It will have an Investigation Wing that will be headed by a Director General.

• District collectors will also be empowered to inquire into complaints of violation of consumer rights, unfair trade practices and false or misleading advertisements.

Hardeep S Puri chairs the meeting with stakeholders on Green Hydrogen

Tags: National News

The union ministry of petroleum and natural gas on 4 July held consultations with stakeholders on developing the green hydrogen ecosystem in India.

• The meeting was chaired by the union minister of petroleum and natural gas Hardeep Singh Puri. 

• It was attended by the minister of state for petroleum Rameswar Teli, seniors officials from the ministry and oil & gas PSUs, and other stakeholders.

• Puri said that when green hydrogen is promoted, the challenges faced by the fossil fuel industry can be overcome.

• He said that this will accelerate India's journey towards energy independence by 2047.

• Government is spending ₹12 lakh crores to import energy. 

• Due to India's favourable geographical conditions and presence of abundant natural elements, green hydrogen production has great potential.

• Oil and gas PSUs have taken up several pilot projects in this sector, some of which will start showing results this year itself.

• India is capable of creating a $12-13 trillion industry by 2050 and emerging as a major global energy supplier.

• What is green hydrogen?

• Green hydrogen is hydrogen gas produced by electrolysis of water.

• Electrolysis of water is an energy intensive process for splitting water into hydrogen and oxygen.

• In this method an electric current is used to separate the hydrogen from the oxygen in the water.

• If this electricity is obtained from renewable sources, energy will be produced without emitting carbon dioxide into the atmosphere.

• Brown hydrogen 

• It is produced by use of coal where the emissions are released to the air.

• Grey hydrogen

• It is produced from natural gas where the emissions are released to the air.

• Blue hydrogen

• It is produced from natural gas, in which the emissions are captured using carbon capture and storage.

• Capacity of India in renewable energy sector

• India currently ranks fourth in renewable energy capacity globally. 

• India will add 500 GW of non-fossil fuel capacity by 2030.

• Presently the renewable energy capacity in India is 136 GW, which is 36% of the total energy capacity in India.

• Solar and wind energy are the main sources of renewable energy.

• Other alternatives such as biomass energy, methanol-based blending and hydrogen are considered the fuel of the future.

Saving Chenkurinji from climate change

Tags: Popular National News

Chenkurinji (Gluta travancorica) is a species endemic to the Agasthyamala Biosphere Reserve. Its numbers are continuously decreasing due to climate change.

• About Chenkurinji tree

• It belongs to the Anacardiaceae family.

• This tree was once found in abundance in the hills of the southern parts of Aryankavu Pass, Kollam district (Kerala), but over the years its presence is rapidly decreasing from this area.

• It is susceptible to climate change and the current status of these species is poor due to low regeneration.

• There are sufficient numbers of these trees but most of them are not productive, thereby creating a negative trend in its population.

• Flowering and fruiting rates are very poor in most trees.

• Medicinal properties of the tree

• It has medicinal properties and is used to lower blood pressure and treat arthritis.

• The forest department has launched a 'Save Chenkurinji' campaign.

EC issues notification for filing nomination for 16th Vice-Presidential election

Tags: Latest National News

The Election Commission has issued the notification on 5 July for filing the nomination for the 16th Vice-Presidential election. 

• The process of filing nominations for the Vice Presidential election to be held on August 6 will start from July 5 and will continue till July 19.

• The scrutiny of nomination papers will be held on July 20 and the last date for withdrawal of nominations is July 22.

• The term of current Vice President M. Venkaiah Naidu ends on August 10.

• The election is held according to the system of proportional representation by means of single transferable vote and voting is by secret ballot.

• About Vice-President

• The post of Vice President of India is modelled on the lines of the US Vice President.

• The post of Vice President in India is considered to be the second highest post in the country.

• Article 63 of the Indian Constitution mentions the office of the Vice-President.

• He is the ex-officio Speaker of the Rajya Sabha (Article 64).

• He is not a member of Lok Sabha and Rajya Sabha.

• The Vice President is indirectly elected by an Electoral College.

• The Electoral college consists of both elected and nominated members from Lok Sabha and Rajya Sabha.

• The Electoral College does not include the members of the state legislative assemblies.

• The Vice President holds the position for five years.

• He can resign his office before five years by submitting his resignation to the President.

• A formal impeachment is not required for his removal.

• First Vice President of india – Dr. S. Radhakrishnan (1952)

• Present Vice President of india – Venkaiah Naidu (Since 2017)

India-Armenia sign MoU on High Impact Community Development Projects

Tags: International News

India and Armenia signed a Memorandum of Understanding on high impact community development projects with financial and technical assistance from India in Armenia on 4 July.

• The MoU was signed at the 8th India-Armenia Intergovernmental Commission on Trade, Economic, Scientific and Technical, Cultural and Educational Cooperation (IGC) held in Yerevan.

• The Indian delegation was led by Sanjay Verma, Secretary (West), Ministry of External Affairs.

• The Armenian delegation was led by the Armenian Foreign Minister Ararat Mirzoyan. 

• The two sides discussed and reviewed the current status of cooperation in various fields such as trade, investment, health, tourism, infrastructure, culture, connectivity, information technology, agriculture, fintech and education.

• Later Mahatma Gandhi Auditorium was inaugurated at Yerevan State Medical University (VSMU).

• More than 700 students from the Indian community are pursuing medical education at Yerevan State Medical University in Armenia.

• India-Armenia Intergovernmental Commission (IGC)

• The 7th IGC was held in April 2016 and the 6th IGC and FOC were held in New Delhi on 25 September 2013.

• About Armenia 

• It is a landlocked country located in the Armenian Highlands of Western Asia.

• Head Of Government - Prime Minister- Nikol Pashinyan

• Capital - Yerevan

• President - Vahagn Kachaturyan

• Currency - Dram

Indian Navy commissions the first ALH Squadron INAS 324 in Visakhapatnam

Tags: Defence

Indian Naval Air Squadron INS 324 was commissioned into the Indian Navy at Visakhapatnam on 4 July.

• INAS 324 Squadron

• The unit is the first Naval Squadron on the Eastern Seaboard to operate indigenously designed and manufactured Advanced Light Helicopter (ALH) Mk III (MR) helicopters.

• It is named after a bird species named 'Kestrels' which has superior sensing capabilities, symbolizing the envisaged role of aircraft and air squadrons.

• The insignia of the squadron depicts a ‘Kestrel’ searching over vast blue waters and white sea waves, which signifies the role of Maritime Reconnaissance (MR) and Search and Rescue (SAR) role of the squadron.

• The ALH Mk III helicopters are equipped with state-of-the-art equipment including advanced surveillance radars and electro-optical sensors.

• These helicopters can also be deployed for Humanitarian Assistance and Disaster Relief (HADR) operations and for special operations with the Marine Commandos (Marcos).

• Advanced Light Helicopter (ALH)

• It is an indigenously developed utility aircraft by Hindustan Aeronautics Limited (HAL) with a twin-engine.

• Its development was initiated in 1984, and was initially designed with German assistance from the Messerschmitt-Bolko-Blohm (MBB).

• As of 2020, over 300 HAL Dhruves have been produced for the domestic and export markets.

• The major variants of Dhruv are classified as Dhruv Mk-I, Mk-II, Mk-III & Mk-IV.

• HAL has received orders for 73 ALHs for the ALH Mk-III and Mk-IV variants from the Indian Army, Coast Guard and Navy in 2017.

• HAL has also supplied it to Nepal Army, Mauritius Police and Maldives.

Operation "Narcos"

Tags: National News

Railway Protection Force recently recovered narcotics worth more than Rs 7.40 crore under Operation "Narcos".

• Operation Narcos

• With a special focus on the menace of Narcotic Substances and Psychotropic Substances (NDPS), a month long all India campaign against drug trafficking through rail with the code "Operation Narcos" was launched in June-2022.

• RPF has intensified its investigation in trains and identified black spots across the country in coordination with the Narcotics Control Bureau and other law enforcement agencies to target drug smugglers involved in this illegal trade.

• Other Initiatives of RPF

• Operation AAHT

• Special teams will be deployed on all long distance trains/routes to rescue the victims, especially women and children, from the clutches of traffickers.

• Meri saheli pehal

• This initiative will focus on the safety of women passengers. It was launched in September 2020 as a pilot project in South-Eastern Railway. Since then it has been extended to all the zones.

• Operation Passenger Safety

• Under "Operation Yatri Suraksha", the RPF supports the state police in the fight against passenger crime.

• Operation Little Angels

• It rescued 1,045 children who were found alone or abandoned at railway stations.

• Railway Protection Force

• The RPF contingent is an armed force of the Union of India. It is a security force owned by the Indian Railways, Ministry of Railways.

• The history of RPF dates back to 1882 when various railway companies appointed their own guards to guard the railway property.

• The force was declared a statutory force in 1957 by an Act of Parliament, later declared as an armed force of the Union of India in 1985.

• RPF has been entrusted with the responsibility of safeguarding railway property.

IRDAI and NHA to set up National Health Claims Exchange to settle claims

Tags: National News

The National Health Authority (NHA) and the Insurance Regulatory and Development Authority (IRDAI) have decided to develop a National Health Claims Exchange.

• National Health Claims Exchange will be developed as a digital platform for settlement of health claims.

• IRDAI President Debashish Panda has proposed to form a working group with industry representation.

• This working group will decide how to attract as many people as possible to buy health insurance.

• Insurance Regulatory and Development Authority of India (IRDAI)

• IRDAI is a regulatory body, established under the jurisdiction of the Ministry of Finance.

• It helps regulate and licence the insurance and reinsurance industries across the country.

• It was constituted as per the Insurance Regulatory and Development Authority Act, 1999.

• IRDAI is headquartered in Hyderabad, Telangana. It was shifted from Delhi to Telangana in 2001.

• IRDAI is a 10-member body. It consists of the Chairman, 5 full time and 4 part time members. All the members are appointed by the Government of India.

• National Health Authority (NHA)

• National Health Authority implements India's public health insurance scheme named “Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY)”.

• NHA was set up to implement PM-JAY at the national level.

• In states, state health agencies have been set up as a society or trust.

• SHA has been given full operational autonomy for the implementation of this scheme.

UK Parliament honours Tanuja Nesari with Ayurveda Ratna award

Tags: Awards International News

All India Institute of Ayurveda (AIIA) Director Tanuja Nesri has been conferred with the Ayurveda Ratna Award by the UK Parliament.

• The UK All-Party Parliamentary Group on Indian Traditional Science (ITSappg) presented the award in recognition of his contribution to promoting the development of Ayurveda in India and abroad.

• The award was presented on the occasion of International Day of Yoga (June 21).

• The All-Party Parliamentary Group on Indian Traditional Science was formed in 2014 with the aim of spreading the knowledge of Ayurveda, Yoga, Astrology, Vastu, Unani and Sangeet to the United Kingdom and abroad.

• About All India Institute of Ayurveda (AIIA) 

• Establishment - 2017

• Headquarters - New Delhi

Airports Authority of India inks pact with UP government to operate 5 airports

Tags: Popular National News

The Airports Authority of India has signed an operation and management agreement to operate five airports owned by the UP government for a period of 30 years.

• These five airports are Aligarh, Azamgarh, Chitrakoot, Mirpur and Shravasti.

• The airport will be developed by the state government and will be operated and managed by the Airports Authority of India as a service provider.

• In the presence of Chief Minister Yogi Adityanath, a letter of agreement (MoU) was exchanged between Additional Chief Secretary of Civil Aviation Department SP Goyal and AAI President AK Pathak.

• The communication navigation monitoring services will also be provided by the Airports Authority of India, for which the state government will enter into a separate agreement.

• After the MoU, now the process of licensing of these airports will be done and soon all the five airports will start air service.

• About Airports Authority of India 

• Airports Authority of India is an organisation/authority functioning under the Ministry of Civil Aviation, Government of India.

• The Airports Authority of India (AAI) manages a total of 125 airports which include 11 international airports, 8 customs airports, 81 domestic airports and 25 civil enclaves in defence airfields.

• Established- 1st April, 1995

• President- Sanjeev Kumar

• Headquarters - New Delhi