Daily Current Affairs: March 12, 2022

Daily Current Affairs (March 12, 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

Union Minister Bhupendra Yadav releases a book titled ‘Role of Labour in India’s Development’

• Union Minister for Labour and Employment & Environment, Forest and Climate Change Bhupender Yadav released a book titled ‘Role of Labour in India’s Development’ at New Delhi.
• This book contains 12 articles written by eminent academicians and practitioners on the contribution of labour in India’s development journey. This book was published by the V. Giri National Labour Institute.

India gets first-ever Virtual Smart Grid Knowledge Centre in Manesar

• The Union Minister for power K. Singh has inaugurated India’s first-ever Virtual Smart Grid Knowledge Center (Virtual SGKC) and Innovation Park in Manesar, Haryana.
• This Virtual SGKC is conceptualised and developed by POWERGRID with support from the Union ministry of power and technical assistance from United States Agency for International Development (USAID).

Haryana           

• Capital: Chandigarh
• Chief Minister: Manohar Lal Khattar
• Governor: Bandaru Dattatraya
• National Parks: Sultanpur National Park, Kalesar National Park
• Dance: Phag, Dhamal, Loor, Khoria

Union Minister Narayan Rane launches MSME Innovative Scheme and MSME IDEA HACKATHON 2022

• Union Minister for MSME Narayan Rane has launched the MSME Innovative Scheme (Incubation, Design and IPR) along with the MSME IDEA HACKATHON 2022.
• MSME Innovative is a new concept for MSMEs with a combination of innovation in incubation, design intervention and by protecting IPR in a single mode approach to create awareness amongst MSMEs about India’s innovation and motivate them to become MSME Champions.

India’s first-ever Drone School was inaugurated in Gwalior, Madhya Pradesh

• Madhya Pradesh Chief Minister Shivraj Singh Chouhan and Union Civil Aviation Minister Jyotiraditya Scindia have jointly inaugurated India’s first-ever Drone School in Gwalior, Madhya Pradesh.
• This drone school is one of the five Drone Schools (Bhopal, Indore, Jabalpur and Satna) planned to be opened in five different cities of Madhya Pradesh.

Madhya Pradesh      

• Capital: Bhopal
• Chief Minister: Shivraj Singh Chauhan
• Governor: Mangubhai Chhaganbhai Patel
• National Parks: Bandhavgarh National Park, Dinosaur Fossils National Park, Fossil National Park, Pench National Park, Kanha National Park, Kuno National Park, Madhav National Park, Panna National Park, Sanjay National Park, Satpura National Park, Van Vihar National Park

State News

Haryana CM Khattar announces Sushma Swaraj Award and Matrushakti Udyamita Scheme for Women in Budget 2022

• Haryana Chief Minister Manohar Lal Khattar has presented the Budget 2022–23 in Haryana state Assembly and announced the ‘Sushma Swaraj Award’ for women for their significant contribution or achievements in different walks of life in national and international spheres.
• He also announced the Haryana ‘Matrushakti Udyamita Scheme’ to provide support to women for becoming entrepreneurs.

Haryana           

• Capital: Chandigarh
• Chief Minister: Manohar Lal Khattar
• Governor: Bandaru Dattatraya
• National Parks: Sultanpur National Park, Kalesar National Park
• Dance: Phag, Dhamal, Loor, Khoria

International News

Katalin Novak was elected as the first-ever woman President of Hungary

• Katalin Novak was elected as the first-ever woman President of Hungary. She served as a Minister for family policy. The forty-four-year-old Katalin Novak is Hungary’s youngest ever head of state.
• She was elected to the mostly ceremonial role by 137 votes to 51 in the parliament dominated by Orban’s right-wing Fidesz party ahead of opposition challenger Peter Rona.

IMF provides $ 1.4 billion in emergency financing support to Ukraine

• The International Monetary Fund (IMF) provided a $ 1.4 billion (SDR 1,005.9 million), under the Rapid Financing Instrument (RFI) to help meet urgent financing needs and mitigate the economic impact of the Russia-Ukraine war.

International Monetary Fund (IMF)

• Headquarters: Washington DC, United States of America
• Managing Director: Kristalina Georgieva
• Chief Economist: Pierre-Olivier Gourinchas

Banking and Economy

RBI prohibits Paytm Payments Bank from signing new customers

• The Reserve Bank of India (RBI) issued a notice to Paytm Payments Bank forbidding it to onboard any new customers.
• RBI also directed the bank to appoint an information technology audit firm to conduct an audit of its IT system and said it will lift the embargo after reviewing the report of the IT auditors.

Paytm Payments Bank

• Headquarters: New Delhi, India
• MD & CEO: Satish Kumar Gupta

GDP Projections

CRISIL projects India’s GDP growth forecast at 7.8 per cent for FY23

• CRISIL projected India’s GDP growth forecast of 8 per cent for the fiscal year FY23, as compared with the 8.5 per cent projected in the Economic Survey in India.
• CRISIL is an Indian analytical company providing ratings, research and risk and policy advisory services and is a subsidiary of American company S&P Global.

CRISIL

• Headquarters: Mumbai, Maharashtra
• MD and CEO: Ashu Suyash
• Chairman: John Berisford

Morgan Stanley revises India’s GDP forecast at 7.9 per cent for FY23

• American brokerage firm Morgan Stanley revised India’s FY23 real GDP growth estimate to 9 per cent, mainly due to the impact of the Russia-Ukraine conflict on oil prices.

Acquisitions and Mergers

ICICI Bank acquires a five per cent stake in NARCL

• Private sector lender ICICI Bank acquired five per cent stake in National Asset Reconstruction Company Limited (NARCL).
• The transaction is for a total cash consideration of up to ₹ 1,37.5 crore in tranches. Equity investment would be in tranches with the first tranche of equity investment of ₹ 70.45 crore.

ICICI (Industrial Credit and Investment Corporation of India)

• Headquarters: Mumbai, Maharashtra
• MD and CEO: Sandeep Bakhshi
• Tagline: Hum Hai Na, Khyal Apka

Appointments

SC appoints former judge Arjan Kumar Sikri as chairperson of High-Powered Committee on Chardham project

• The Supreme Court has appointed its former judge Arjan Kumar Sikri as chairperson of the High-Powered Committee (HPC) of the Chardham project on the entire Himalayan valley.
• He succeeded Professor Ravi Chopra as the chairperson of the committee.

Former Finance Secretary Debasish Panda was appointed as the Chairman of IRDAI

• Former Finance Secretary Debasish Panda was appointed as the Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) for three He replaced Subhash Chandra Khuntia.
• He is a 1987 batch IAS officer of the Uttar Pradesh cadre retired as financial services secretary in January 2021.

IRDAI (Insurance Regulatory and Development Authority)

• Headquarters: Hyderabad, Telangana
• Chairman: Debasish Panda

Rakesh Joshi was appointed as the Whole-Time Member of IRDAI

• Former Executive Vice President and Group Head (Debt Capital Markets), State Bank of India Capital Markets Rakesh Joshi was appointed as the Whole-Time Member (Finance & Investment) at the Insurance Regulatory and Development of India (IRDAI) for three

IRDAI (Insurance Regulatory and Development Authority)

• Headquarters: Hyderabad, Telangana
• Chairman: Debasish Panda

Justice Vipin Sanghi was appointed as the acting Chief Justice of Delhi High Court

• Justice Vipin Sanghi was appointed as the acting Chief Justice of the Delhi High Court. He succeeded Justice Dhirubhai Naranbhai Patel.
• Justice Sanghi was appointed as an additional judge of the Delhi High Court on 29 May 2006 and was confirmed as a permanent judge on 11 February 2008.

Former Revenue Secretary Ajay Bhushan Pandey was appointed as NFRA Chairperson

• Former Revenue Secretary Ajay Bhushan Pandey was appointed as the Chairperson of National Financial Reporting Authority (NFRA).
• It has also appointed Praveen Kumar Tiwari and Smita Jhingran to the post of full-time members of NFRA.

Awards and Recognitions

Six Indian airports adjudged at best airports by ACI in the Asia Pacific region

• A total of six Indian airports have been adjudged at ‘best airport by size’ in different categories (annual passenger traffic) by the Airports Council International (ACI) in its Airport Service Quality (ASQ) survey for 2021 in the Asia Pacific region.

The six Indian airports are category

1. Chhatrapati Shivaji Maharaj International Airport, Mumbai (Over 40 million passengers per year)
2. Indira Gandhi International Airport, New Delhi (Over 40 million passengers per year)
3. Rajiv Gandhi International Airport, Hyderabad (15 to 25 million passengers per year)
4. Cochin International Airport, Cochin (5 to 15 million passengers per year)
5. Sardar Vallabhbhai Patel International Airport, Ahmedabad (5 to 15 million passengers per year)
6. Chandigarh Airport, Chandigarh (2 to 5 million passengers per year)

Books and Authors

Ratnakar Shetty’s autobiography titled ‘Board: My Years in BCCI’ was released

• Former President of the MCA, BCCI and International Cricket Council Sharad Pawar released a new book titled ‘Board: My Years in BCCI’, an autobiography of Ratnakar Shetty.
• He is the first Board of Control for Cricket in India (BCCI) Chief Administrative Officer.

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