Daily Current Affairs: March 11, 2022

Daily Current Affairs (March 11, 2022) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK, and Financial Awareness sections. Remember, Banking Awareness, and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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National News

Bureau of Indian Standards signs an MoU with IIT Roorkee for the establishment of ‘BIS Standardisation Chair Professor’

• Bureau of Indian Standards (BIS) has signed a Memorandum of Understanding (MoU) with IIT Roorkee for the establishment of ‘BIS Standardisation Chair Professor’ at IIT Roorkee.
• This would be the first standardisation chair established by BIS in an institute for activities on standardisation and conformity assessment.
• This MoU will also help in sensitising IIT Roorke students on how standards can encourage and facilitate innovation and will help in grooming students making them better prepared for their future professional challenges.

Dr. Tamilisai Soundararajan inaugurates digitisation of health records of students of Puducherry

• Puducherry Governor Dr. Tamilisai Soundararajan inaugurated the digitisation programme to digitise the health records of Puducherry students in the presence of Puducherry Chief Minister N. Rangasamy.
• Union Territory of Puducherry has started digitisation of the health records of its students starting from classes 1 to 12.

Puducherry

• Chief Minister: Rangasamy
• Governor: Dr. Tamilisai Soundararajan

Indian Railways’ first ‘Gati Shakti’ cargo terminal was commissioned in Asansol Division of Eastern Railway

• Indian Railways’ first ‘Gati Shakti’ cargo terminal was commissioned in Asansol Division of Eastern Railway under the policy Union Ministry of Railways’ regarding ‘Gati Shakti Multi-Modal Cargo Terminal’ (GCT).

Tripura Government launches  ‘Mukhyamantri Chaa Srami Kalyan Prakalpa’ special scheme for tea workers

• Tripura Government has launched a special scheme named ‘Mukhyamantri Chaa Srami Kalyan Prakalpa’ for housing, rations and financial support to the tea garden workers providing them with facilities of state and union government entitlements in a clubbed format.
• A sum of ₹ 85 crores would be spent from the Tripura Government’s exchequer for the implementation of this scheme.

Tripura                    

• Capital: Agartala
• Chief Minister: Biplab Kumar Deb
• Governor: Satyadeo Narain Arya

India and the World Bank sign a $ 125 million loan to support social protection services in West Bengal

• India and the World Bank signed a $ 125 million loan to support efforts to help poor and vulnerable groups access social protection services in West Bengal.
• West Bengal runs more than 400 programmes that provide social assistance, care services and jobs. Most of these services are offered through an umbrella platform called Jai Bangla.

West Bengal    

• Capital: Kolkata
• Chief Minister: Mamata Banerjee
• Governor: Jagdeep Dhankhar
• National Parks: Buxa National Park, Gorumara National Park, Neora Valley National Park, Jaldapara National Park, Singalila National Park, Sundarbans National Park

International News

India and Canada hold the fifth Ministerial Dialogue on Trade and Investment

• India and Canada held the fifth Ministerial Dialogue on Trade and Investment (MDTI). This meeting was co-chaired by the Union Minister of Textiles, Commerce and Industry and Consumer Affairs, Food and Public Distribution Piyush Goyal.
• The total bilateral trade between India and Canada including goods and services has crossed $ 11 billion.

India, Bangladesh and Nepal finalise an MoU for the implementation of the BBIN Motor Vehicles Agreement

• India, Bangladesh and Nepal held a two-day meeting to discuss the passenger and cargo protocols to operationalise the BBIN Motor Vehicles Agreement (MVA) held in Delhi.
• The three nations finalised an enabling Memorandum of Understanding (MoU) for implementing the long-gestating Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement (MVA) that is aimed at boosting regional trade and connectivity.
• Bhutan participated in the meeting as an observer.

Yoon Suk-Yeol was elected as the next President of South Korea

• Yoon Suk-Yeol was elected as the next President of South Korea. He won over Democratic Party’s Lee Jae-myung.
• Yoon Suk-Yeol served as the prosecutor general of South Korea from 2019 to 2021 under South Korean President Moon Jae-In. He also played a major role in the conviction of former South Korean President Park Geun-Hye as the prosecutor general of South Korea.

South Korea

• Capital: Seoul
• Currency: South Korean Won
• Prime Minister: Kim Boo-Kyum
• President: Yoon Suk-Yeol

Banking and Economy

RBI approves NaBFID to be regulated as an All Indian Financial Institution under the RBI Act

• The Reserve Bank of India (RBI) approved that National Bank for Financing Infrastructure and Development (NaBFID) will be regulated and supervised as an All India Financial Institution by it under the RBI Act, 1934.
• The National Bank for Financing Infrastructure and Development (NaBFID) Act, 2021, received the assent of the Indian President on 28 March 2021. It came to force with effect from 19 April 2021.
• Accordingly, NaBFID has been set up as a Development Financial Institution (DFI) to support the development of long-term infrastructure financing in India.

BSE ink pact with BSS and JJA entities to promote commodity derivatives and EGRs

• Bombay Stock Exchange (BSE) has collaborated with the Bhartiya Swarnkar Sangh (BSS) and Jamshedpur Jewellers Association (JJA) to deepen commodities derivatives trade and proposed electronic gold receipt (EGR) markets in India.
• These pacts are aimed at growing and developing value chain participants, enabling them to face competition and manage price risk better.
• BSE will participate with the BSS and JJA in seminars and various other programmes to educate the community about the commodity and derivatives markets and their benefits. This will also encourage commodity stakeholders to hedge on exchanges.

GDP Projection

Fitch Ratings projects India’s FY22 GDP growth at 8.4 per cent

• Fitch Ratings has revised its outlook on Indian banks’ operating environment (OE) to ‘stable’ from ‘negative’.
• Fitch Ratings has revised its outlook on Indian banks’ operating environment (OE) to ‘stable’ from ‘negative’.

Agreements and MoUs Signed

Atal Innovation Mission partners with KidEx to promote innovation and entrepreneurship

• NITI Aayog’s Atal Innovation Mission (AIM) announced a partnership with KidEx Venture Private Limited to leverage KidEx’s existing technology platform ‘IKIGAI’ to host AIM’s flagship programmes Tinkerpreneur, ATL Marathon and other similar Atal Tinkering Labs (ATL) related challenges.
• These programmes would be accessible to every student affiliated with ATL’s network of schools in a digital, convenient manner at zero cost.

BOB Financial partners with CreditAI to launch a co-branded credit card named ‘Unnati’ for farmers

• BOB Financial Solutions Limited (BFSL), a wholly-owned subsidiary of Bank of Baroda (BoB) and CreditAI Fintech Pvt Ltd (CAI), a Singapore and Bengaluru-based farmer digitisation and credit scoring company, launched a co-branded credit card named ‘Unnati’ exclusively for farmers.
• This credit card has been launched as a contactless offering on the VISA network. The Unnati credit card was first launched in Karnataka.

Appointments

Prabha Narasimhan was appointed as the CEO and MD of Colgate-Palmolive India

• FMCG firm Colgate Palmolive has appointed Prabha Narasimhan as its Chief Executive Officer (CEO) and Managing Director (MD) for its Indian unit, Colgate-Palmolive (India). She succeeded Ram Raghavan, who was appointed as the President of Colgate Palmolive.
• Prabha Narasimhan was a former Hindustan Unilever (HUL)

Ranks and Indices

India ranks ninety-third in the Liberal Democracy Index 2022: V-Dem Institute’s Democracy Report

• According to the latest report from the V-Dem Institute at Sweden’s University of Gothenburg, India has ranked ninety-third out of 179 countries on the Liberal Democracy Index (LDI) 2022.
• This index was topped by Sweden, Denmark, Norway, Costa Rica and New Zealand.

India ranks second as the global investment hub for digital shopping companies

• According to the London & Partners analysis of co investment data, India ($ 22 billion) is the second-largest global venture capital investment hub for digital shopping companies.
• This index was topped by The United States ($ 51 billion), India ($ 22 billion), China ($ 14 billion) and the United Kingdom ($ 7 billion).
• Within India, Bengaluru came out on top globally with $ 14 billion worth of Venture Capital (VC) investments in digital shopping in 2021, followed by Gurugram at the seventh place with $ 4 billion and Mumbai at the tenth place with $ 3 billion.

Books and Authors

A new book titled ‘Soli Sorabjee: Life and Times’ was authored by Abhinav Chandrachud

• A new book titled ‘Soli Sorabjee: Life and Times’ was authored by advocate and legal scholar Abhinav Chandrachud. This book is about the life and times of Soli Sorabjee, the former Attorney General of India.
• This book was published by the Penguin Random House India (PRHI).

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