1. Amidst controversy Amit shah inaugurates Hyderabad Liberation Day celebration
Tags: place in news National State News
Union Home Minister Amit Shah inaugurated the year-long celebrations of Hyderabad Liberation Day at the parade grounds in Hyderabad, Telangana on 17 September 2022. However the celebration has become controversial after the Telangana Chief Minister announced to observe the day as Telangana National Integration Day. The center move has also been criticized by the Hyderabad MP Asaduddin Owaisi.
Both the Chief Minister and Owaisi considers Centre’s move as communal.
IMPORTANT FACTS -
- Speaking on the occasion, Amit Shah said for the first time liberation day is being held officially on the land of Telangana after 75 years. He said some political parties feel ashamed to call September 17 Hyderabad Liberation Day as they still have fear of Razakars (Nizam’s para military force) in their mind.
- Maharashtra Chief Minister Eknath Shinde, Karnataka Transport Minister Sriramulu and Union Culture minister Kishan Reddy participated in the event while Telangana Chief Minister K Chandrasekhar Rao stayed away from the event.
- 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.
2. Sudarsan Patnaik creates Modi sand sculpture with Kulhar on PM's birthday
Tags: place in news Person in news State News
Famous sand artist and Padam Shri awardee, Sudarsan Patnaik of Odisha has paid tribute to Prime Minister Narendra Modi on his 72 birthday in his own unique way.
IMPORTANT FACTS -
- He made a 5 feet sand statue of the PM with the message ‘Happy Birthday Modi ji’ by placing 1,213 Kulhar (clay tea cups) at Puri beach on 17 September 2022. He used 5 tonnes of sand for the purpose.
- Sudarsan Patnaik has participated in more than 60 international sand art championships and festivals around the world and has won many awards.
3. Indigenous Light Combat Helicopter to join IAF helicopter fleet in October
Tags: place in news Defence
The Indian Air Force helicopter fleet will be boosted with the induction of the indigenously developed Light Combat Helicopter (LCH) at Jodhpur, Rajasthan on 3 October 2022. The LCH has been manufactured by Hindustan Aeronautics Limited (HAL).
IMPORTANT FACTS -
Capability of LCH :
- According to HAL, the LCH is the only attack helicopter in the world that can land and take-off at an altitude of 5,000 m (16400 feet) with a considerable load of weapons and fuel. It has been made to meet the requirement of the armed forces operating in the high altitude area of Ladakh and Siachen.
- It is suited to perform the roles of search and rescue, destruction of enemy air defence, counter insurgency operations, combat against slow moving aircraft etc.
Limited Series production :
- In March 2022 the Union Government had approved the manufacturing of 15 limited series LCH for the Army and the Air force .Of the 15 limited series production helicopters approved, 10 are for the IAF and five for the army.
- The light combat helicopter Limited Series Production (LSP) is an indigenously designed, developed, and manufactured state-of-the-art modern combat helicopter. It has an indigenous content of 45% that will increase to more than 55% in the further series.
ADDITIONAL INFORMATION -
Hindustan Aeronautics Limited (HAL) :
- It was set up as Hindustan Aircraft Limited by Walchand Hirachand in 1940 at Bangalore (now Bengaluru), Karnataka.
- It was taken over by the government of India and merged with Aeronautics India limited and was renamed as Hindustan Aeronautics Limited on 1 October 1964.
- Its main business is to design, develop, manufacture, repair and overhaul of aircraft, helicopters, engines and related systems like avionics, instruments and accessories.
- It comes under the Ministry of Defence.
- Headquarters: Bengaluru
4. Nirmala Sitharaman calls for more women directors at the 2nd Women Director’s Conclave
Tags: place in news Economy/Finance Summits
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman called for increasing the representation of women in the company’s board of directors in India.
She was speaking at the 2nd ‘Women Director’s Conclave’ being held at Bombay Stock Exchange in Mumbai on 16 September.
IMPORTANT FACTS -
- The theme of the Conclave was: Celebrating Women Board Leaders'.
- Nirmala Sitharaman said that only three-fourths of the listed firms on the National Stock Exchange have appointed at least one woman as an independent director.
- The Security and Exchange Board of India (SEBI), in accordance with the Companies Act 2013, has mandated the appointment of one independent woman director in the board of listed companies.
5. 9th Session of ggoverning body of the ITPGRFA to be held in New Delhi
Tags: place in news Science and Technology Summits
The 9th Session of the Governing Body (GB9) of the 'International Treaty on Plant Genetic Resources for Food and Agriculture' (ITPGRFA) will be held in New Delhi from 19-24th September, 2022.
IMPORTANT FACTS -
- ITPGRFA is a legally binding comprehensive agreement adopted in November, 2001 at Rome during the 31st session of the Food and Agriculture Organization of the United Nations, which entered into force on June 29, 2004 and currently has 149 Contracting Parties, including India.
- The treaty provides solutions to achieve food and nutritional security as well as climate resilient agriculture. Countries are interdependent for PGRFA (Plant Genetic Resources for Food and Agriculture) and consequently a global order is essential to facilitate access and benefit sharing.
Theme of the GB9 :
- The GB9 is being held under the theme “Celebrating the Guardians of Crop Diversity: Towards an Inclusive Post-2020 Global Biodiversity Framework”.
6. 3rd Global Fintech Fest to be held in Mumbai
Tags: place in news Economy/Finance Summits
The 3rd edition of the Global Fintech Fest will be held in Mumbai, Maharashtra from 19-22 September 2022.
IMPORTANT FACTS -
- The 3rd Global Fintech Fest will be held in a hybrid mode.
- The Global Fintech Fest is being organised by National Payment Corporation of India (NPCI), Payment Council of India and the Fintech Convergence Council.
- The theme for Global Fintech Fes 2022 is: 'Creating A Sustainable Financial World - Global | Inclusive | Green'.
What is Fintech :
- It is composed of two words: Financial and Technology. It refers to the technological innovation in the design and delivery of financial products like saving accounts, loans, wealth management, investment in stock markets etc.
7. 19th ‘India-ASEAN’ Economic Ministers meeting 2022 held in Cambodia
Tags: place in news Summits
The 19th India -ASEAN (Association of South East Asian Nation) economic ministers meeting was held in Siem Reap City, Cambodia on 16 September 2022. Cambodia is currently the chairman of ASEAN.
The meeting was co-chaired by Anupriya Patel, Minister of State for Commerce and Industry and by the Commerce minister of Cambodia Pan Sorasak.
The meeting was attended by Economic Ministers or their representatives from all the 10 ASEAN countries namely, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam
The Ministers noted that trade and economic relations between ASEAN and India are starting to recover from the impact of the COVID-19 pandemic and the two-way trade between ASEAN and India reached USD 91.5 billion in 2021 increasing by 39.2 per cent year-on-year.
IMPORTANT FACTS -
India-ASEAN economic engagements :
- ASEAN is a focus area of economic diplomacy of India. The India-ASEAN Economic ministers meeting is the main body which discusses the trade and investment related issues between the two. The Commerce Minister of India and ASEAN attends these meetings.
Investment between the two :
- Between, 2000-2021, the cumulative Foreign Direct Investment (FDI) from ASEAN to India was $117.88 billion.
- These were mainly accounted for by Singaporean investments in India ($115 billion).
- Indian investment into ASEAN since April 2019 till March 2022 is US$ 55.5 billion out of which US$ 51.5 billion investment is in Singapore.
ADDITIONAL INFORMATION -
Association of South East Asian Nation (ASEAN) :
- It is considered to be one of the most successful regional groups in the world.
- It was set up in 1967 as a group of South-East Asian nations.
- At present there are 10 members in the group. They are:
- Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
- The Headquarters of ASEAN: Jakarta, Indonesia.
8. 25th Energy Technology meet held in Mumbai
Tags: place in news Economy/Finance Summits
The 3 day (15-17 September 2022) , 25th Energy meet organised by the Centre for High Technology (CHT), under the aegis of Ministry of Petroleum & Natural Gas ,Government of India, in association with Hindustan Petroleum Corporation Ltd is being held in Mumbai .
The Energy meet was earlier called the Refining and Petrochemicals Technology Meet.
IMPORTANT FACTS -
- Theme of the 25th Energy meet: Refining in the new Energy era”
- The 25th Energy meet was addressed by the Union Minister for Petroleum and Natural Gas Hardeep Singh Puri and Union Minister of State for Petroleum and Natural Gas, Rameshwar Teli on 15 September 2022.
- Speaking on the occasion Rameshwar Teli said that the Government is committed to raise the share of Natural Gas in the country’s energy mix to 15% by 2030 from its current share of just above 6%.
- He added that the Government has decided to set up 18 thousand Compressed Natural Gas (CNG) stations in the country by 2030.
9. 26th meeting of FSDC held in Mumbai
Tags: place in news Economy/Finance Summits
The Union Finance Minister Nirmala Sitharaman chaired the 26th meeting of the Financial Stability and Development Council (FSDC) in Mumbai on 15 September 2022.
The meeting, which was attended by the chief of various financial sector regulators, discussed important financial issues which can affect the country’s financial sectors and its stability.
IMPORTANT FACTS -
Financial issues discussed :
- It discussed the Early Warning Indicators for the economy and India’s preparedness to deal with them, improving the efficiency of the existing Financial/Credit Information Systems, issues of governance and management in Systemically Important Financial Institutions including Financial Market Infrastructures, strengthening cyber security framework in the financial sector,etc.
The meeting was attended by :
- Dr. Bhagwat Kishanrao Karad, Minister of State for Finance ;
- Pankaj Chaudhary, Minister of State for Finance ;
- Dr. T. V. Somanathan, Finance Secretary and Secretary, Department of Expenditure, Ministry of Finance;
- Shri Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance;
- Shri Tarun Bajaj, Secretary, Department of Revenue, Ministry of Finance; Shri Sanjay Malhotra, Secretary, Department of Financial Services, Ministry of Finance;
- Dr. V. Anantha Nageswaran, Chief Economic Adviser, Ministry of Finance;
Head of Financial Sector Regulators :
- Shaktikanta Das, Governor, Reserve Bank of India;
- Ms. Madhabi Puri Buch, Chairperson, Securities and Exchange Board of India;
- Debasish Panda, Chairperson, Insurance Regulatory and Development Authority of India;
- Supratim Bandyopadhyay, Chairperson, Pension Fund Regulatory and Development Authority;
- Ravi Mittal, Chairperson, Insolvency and Bankruptcy Board of India, Shri Injeti Srinivas, Chairperson, International Financial Services Centers Authority, and the
- Secretary of the FSDC, Department of Economic Affairs, Ministry of Finance.
Financial Stability and Development Council (FSDC) :
- It was set up on the recommendation of the Raghu Ram Rajan committee on “Financial Sector Reform”.
- FSDC was set up by the Government of India in 2010.
Function of the FSDC :
- The Council monitors macro prudential supervision of the economy, including functioning of large financial conglomerates, and addresses inter-regulatory coordination and financial sector development issues.
- It also focuses on financial literacy and financial inclusion.
ADDITIONAL INFORMATION -
Sub-Committee of FSDC :
- The FSDC Sub-committee has also been set up under the chairmanship of Governor, RBI.
- All the members of the FSDC are also the members of the Sub-committee.
- All four Deputy Governors of the RBI are also the members of the Sub Committee.
Full Form :
- Financial Stability and Development Council
10. ANGAN 2022, International Conference held in New Delhi
Tags: place in news Summits
The three day (14-16 September) international conference ANGAN 2022 (Augmenting Nature by Green Affordable New-habitat) was held in New Delhi.
IMPORTANT FACTS -
- The international conference has been organized by the Bureau of Energy Efficiency (BEE) and the Indo-Swiss Building Energy Efficiency Project.
- The objective of ANGAN 2022 is to deliberate on various thematic tracks leading India on the road to Net Zero Energy and Low Carbon Buildings.
- India has committed itself to become net carbon zero by 2070. Globally, buildings consume 40% of energy and are responsible for 1/3rd of carbon emissions.
- Theme of the conference: Making the Zero-Carbon Transition in Buildings
- The Indo-Swiss Building Energy Efficiency Project (BEEP) is a bilateral cooperation between the Ministry of Power, Government of India and the Federal Department of Foreign Affairs of the Swiss Confederation.
