Daily Current Affairs: March 18, 2022

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Important Days

Global Recycling Day – 18 March

• Global Recycling Day is celebrated annually on 18 March to promote awareness about the necessity of recycling in conserving our natural resources and ensuring Earth’s future.
• This day was created by the London-based Global Recycling Foundation in 2018 to promote the concept and practice of recycling.
• The theme of Global Recycling Day 2022 is ‘Recycling fraternity’.

World Sleep Day – 18 March

• World Sleep Day is observed on the Friday before Spring Vernal Equinox of every year during March. This year (2022), World Sleep Day falls on 18 March. World Sleep Day was first celebrated in 2008.
• This day aims to raise awareness about the importance of good sleeping habits. This day also emphasises on social aspects of sleep disorders that can affect the health of a person.
• The theme of World Sleep Day for 2022 is ‘Quality sleep, sound mind, happy world’.

Ordnance Factory Day (India) – 18 March

• Ordnance Factory Day (India) is observed on 18 March annually to commemorate the foundation of the first ordnance factory in India at Cossipore near Kolkata, West Bengal, in 1801.

National News

Union Minister of Defence Rajnath Singh inaugurates DRDO’s Flight Control System integration facility in Bengaluru

• Union Minister of Defence Rajnath Singh has inaugurated a multi-storey integration facility for flight control system (FCS) at the Aeronautical Development Establishment (ADE) in Bengaluru, Karnataka.
• This hybrid technology (flight control system) was developed by the Defence Research and Development Organisation (DRDO) with the support of Larsen & Toubro (L&T) in a record 45 days using in-house technology.

Defence Research and Development Organisation (DRDO)

• Headquarters: New Delhi
• Chairman: G. Satheesh Reddy
• Founded: 1958

NCRTC unveils the coaches of India’s first rapid rail for the Delhi–Meerut corridor

• The National Capital Regional Transport Corporation (NCRTC) has unveiled the coaches of India’s first rapid rail for the Delhi–Meerut corridor.
• This Regional Rapid Transit System (RRTS) train will run on the Delhi–Ghaziabad–Meerut corridor and cover a distance of 82 km in 55 minutes.

Mumbai becomes the first South Asian city to detail a net-zero roadmap

• Mumbai announced detailed plans to zero out carbon emissions by 2050, a target that puts Mumbai two decades ahead of India’s national goal and makes it the first city in South Asia to set such a timeline to phase out carbon emissions.

Maharashtra    

• Capital: Mumbai
• Chief Minister: Uddhav Thackeray
• Governor: Bhagat Singh Koshyari
• National Parks: Chandoli National Park, Gugamal National Park, Nawegaon National Park, Pench (Jawaharlal Nehru) National Park, Sanjay Gandhi (Borivilli) National Park, Tadoba National Park

International News

‘Green Triangle’ named after Mahatma Gandhi was jointly inaugurated in Antananarivo, Madagascar

• As part of the ‘Azadi Ka Amrit Mahotsav’ celebrations to commemorate India’s seventy-fifth year of independence, a ‘Green Triangle’ named after Mahatma Gandhi was jointly inaugurated in Madagascar’s capital, Antananarivo.
• Mayor of Antananarivo Naina Andriantsitohaina and India’s Ambassador to Madagascar Abhay Kumar jointly inaugurated the ‘Green Triangle’ space during a special ceremony in Antananarivo.

Madagascar

• Capital: Antananarivo
• Currency: Ariary
• Prime Minister: Christian Ntsay

Singapore Exchange selects TCS as its partner for NSE IFSC-SGX Connect in GIFT city

• The Singapore Exchange has selected Tata Consultancy Services (TCS) Limited’s Bell Administrative Network Communications System (BaNCs) solution to power the trading link NSE IFSC-SGX Connect at the special economic zone, Gujarat International Finance Tec-City (GIFT city). Gift city allows Singapore traders and other international investors to trade in Nifty derivatives in real-time.
• The Gift Connect will allow SGX members to place orders on NSE IFSC using FIX/proprietary application programming interface (APIs) or through the TCS BaNCS dealing terminal.

Banking and Economy

NPCI is set to launch UPI Lite for small value transactions in an offline mode

• National Payments Corporation of India (NPCI) is set to launch UPI Lite, which enables small value transactions in an offline mode.
• The upper limit of a UPI Lite payment transaction will be ₹ 200 while the total limit of UPI Lite balance for an on-device wallet will be ₹ 2,000 at any point in time.

State Bank of India plans to set up an Innovation, Incubation and Acceleration Centre in Hyderabad

• State Bank of India (SBI) has planned to set up an Innovation, Incubation and Acceleration Centre (IIAC) at Hyderabad, Telangana, in a bid to build in-house capability to bolster its current performance and drive higher top-line growth through innovation.

GDP Predictions

Moody’s revises India’s GDP forecast at 9.1 per cent for CY22

• Rating agency Moody’s revised India’s real Gross Domestic Product (GDP) growth estimate for Commercial year 2022 (CY22) to 9.1 per cent, mainly due to adverse effects of the Russia–Ukraine conflict on the global economy.
• Earlier, it had revised India’s economic growth estimates for CY22 upwards to 9.5 per cent from 7 per cent.

Agreements and MoUs Signed

Tata Communications announces a multi-year strategic collaboration with Formula 1

• Tata Communications has announced a multi-year strategic collaboration with Formula 1 for end-to-end managed network services for video contribution globally.
• With this deal, Tata Communications will return as the official broadcast connectivity provider for Formula 1.

Science and Technology

Cochin Shipyard Limited signs a pact with Dredging Corporation of India to build India’s first indigenous dredger

• Cochin Shipyard Limited (CSL) has signed an agreement with the Dredging Corporation of India (DCI) to build India’s first indigenous dredger.
• This vessel, with a 12,000 cubic metre capacity, will cost around ₹ 920 crores and is expected to be completed within 34 months.
• The Dutch dredging technology major IHC Holland will be the technology partner in this project.

Appointments

RBI extends the term of Rajeev Ahuja as the interim MD and CEO of RBL Bank by a period of three months

• The Reserve Bank of India (RBI) has approved the extension of the term of Rajeev Ahuja as the interim Managing Director (MD) and Chief Executive Officer (CEO) of RBL Bank by a period of another three months.

Suchitra Ella was elected as the Chairperson of the CII Southern Region for 2022–23

• Co-Founder and Joint Managing Director of Bharat Biotech International Limited, Suchitra K. Ella was elected as the Chairperson of the Confederation of Indian Industry (CII) Southern Region for 2022–23.
• Kamal Bali was appointed as the Deputy Chairman of the CII Southern Region for 2022–23.

Awards and Recognitions

Tamil Nadu’s Jayadharshan Venkatesan sets a Guinness world record solving Rubik’s cube while riding a bicycle

• Jayadharshan Venkatesan of Tamil Nadu has set a Guinness world record for solving a Rubik’s cube puzzle in just 32 seconds while riding a bicycle.
• Jayadharshan Venkatesan, a resident of Chennai in Tamil Nadu, was seen showcasing his profound intelligence and classical moves as he solved a Rubik’s Cube while riding a bicycle, applying several tricks to match the colors of the columns on cubes.

Ranks and Indices

Tesla’s Elon Musk tops the Billionaires List in the M3M Hurun Global Rich List 2022

• Founder of SpaceX and Tesla, Elon Musk has topped the M3M Hurun Global Rich List 2022, with a total net worth of $ 205 billion.
• Elon Musk ($ 205 billion) was followed by Jeff Bezos ($ 188 billion), Bernard Arnault ($ 153 billion), Bill Gates ($ 124 billion) and Warren Buffett ($ 119 billion).
• Mukesh Ambani ($ 103 billion) has ranked ninth globally and emerged as the richest Indian and richest Asian in this list. He is the only Indian to feature among the world’s top 10 billionaires in the M3M Hurub Global Rich List.

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