Table of contents | |
Government Schemes & Programmes | |
Business and Economy | |
Banking and Finance | |
RBI in News | |
Awards and Recognition | |
Books and Authors | |
Person in News | |
Sports | |
Important Days |
1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana have completed 7 years on 9th May 2022. These schemes were launched under the Ministry of Finance on 9th May 2015 in Kolkata, West Bengal. The aim is to provide affordable and insurance and security to people from the unorganized section of the country.
PMJJY:
PMSBY:
Atal Pension Yojana:
PM-WANI:
2. Atal Innovation Mission (AIM), NITI Aayog has launched the AIM-PRIME (Programfor Researchers on Innovation, Market Readiness and Entrepreneurship) Playbook at the event organized at the Dr. Ambedkar International Centre, New Delhi.
AIM-PRIME:
3. The Ministry of Finance has revised the rules under which the interest accumulated on the Member of Parliament Local Area Development Scheme (MPLADS) fund will now be deposited in the Consolidated Fund of India. The proposed changes are aimed at timely and efficient utilization of funds. Earlier, the interest accrued on the fund used to be added to the MPLADS account and could be used for the development projects.
Member of Parliament Local Area Development Scheme (MPLADS):
1. Boeing India has collaborated with Indian company Air Works Group to deliver Maintenance, Repair, and Overhaul (MRO) services for the Indian Navy's P-8I maritime patrol aircraft fleet. This collaboration will enable faster turnarounds and enhanced operational capability within India for key defence platforms.
2. Oil giant Saudi Aramco has become the world’s most valuable company by surpassing Apple. Saudi Aramco has traded near its highest level on record on 11th May 2022, with a market capitalisation of about $2.43 trillion. Whereas Apple has fallen 5.2% to close at $146.50 per share, giving it a valuation of $2.37 trillion.
3. IT services companies Mindtree, and Larsen & Toubro Infotech have announced the merger to create India’s fifth-largest IT services provider. The combined entity will be known as “LTIMindtree” and will be led by Debashis Chatterjee, CEO of Mindtree. After the merger, LTI promoters will have a 43.9% while Mindtree promoters will have a 24.8% stake in in the combined entity, while L&T Limited will hold 68.73% of LTI.
4. Bengaluru-based Bellatrix Aerospace has tested an eco-friendly propulsion system for satellites that cuts a new path from the hydrazine (N2H4)-dependent fuel systems and offers a potential 20% jump in fuel efficiency for space satellites. This green propellant would significantly reduce toxicity compared to hydrazine, making it safer to store and handle.
5. Boeing has partnered with Air India Engineering Services Ltd. (AIESL) to set up Maintenance, Repair and Overhaul (MRO) of critical equipment on key Boeing defence platforms used by the Navy and VVIP aircrafts operated by the Indian Air Force including the P-8I operated by the Indian Navy and the 777 VIP aircraft. It has been announced under the US based Boeing India Repair Development and Sustainment (BIRDS) initiative.
6. Morgan Stanley has lowered India’s GDP forecast for FY23 to 7.6 percent from 7.9 percent, estimated earlier. This is due to slowdown in global growth, higher commodity prices and risk aversion in global capital markets.
7. Etsy, a US e-commerce firm for handmade or vintage items, has signed a Memorandum of Understanding (MoU) with the North Eastern Handicrafts and Handloom Development Corporation (NEHHDC) to support small sellers, weavers and artisans by providing them market access and enablement support to sell their products. This MoU will benefit 21 lakh weavers and 14.5 lakh artisans present in the North-Eastern region of India.
8. OMC Power has signed a long-term relationship agreement with the Indian Renewable Energy Dev Agency Ltd (IREDA) towards building a rural renewable energy ecosystem. Under this, OMC will be getting economic support for setting up Renewable energy plants to provide sustainable energy in the villages of Uttar Pradesh. Currently, OMC Power has 280 renewable energy plants across Uttar Pradesh and Bihar.
9. Toyota Group has planned to invest Rs.48 billion (USD 624 million) to make electric vehicle (EV) components in India. This is in line with the efforts of Toyota toward carbon neutrality by 2050.
10. The Catalyst Group has announced the establishment of the Green Health Alliance in New Delhi, in collaboration with the Office of the Principal Scientific Adviser (PSA) to the Government of India, the United States Agency for International Development (USAID), and the Rockefeller Foundation. The objective of this alliance is to identify and scale up solutions to help reduce the carbon footprint of the health system and thereby minimise the negative health impacts of climate change.
1. Indian Bank, a public sector bank, has introduced a digital broking solution named 'E broking'. It is an instant and paper-less Demat and trading account opening which is integrated into the bank's mobile banking application ‘IndOASIS’. This initiative has been launched in partnership with the bank's financial technology partner Fisdom.
2. The Securities and Exchange Board of India (SEBI) has constituted an advisory committee for advising on Environmental Social and Governance (ESG) related matters in the securities market.
3. HDFC Bank has launched the industry-first 30-minute 'Xpress Car Loans'. It is an end to end digital new car loan journey for existing customers as well as non-customers. The lender has integrated its lending application with automobile dealers throughout India.
4. Union Bank of India has launched an online platform named 'Trade nxt' for export-import transactions. It is a cross border trade finance service for Indian exporters and importers. The platform will enable enterprises to conduct all export/import transactions, including entry and processing of letters of credit, bank guarantees, export/import bills, disbursement of export credit, outward and inward remittances, dealer financing, etc.
5. Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO), the biggest ever in the country, has been subscribed 2.95 times on the final day of bidding. This will help the government to raise about Rs.21,000 crore.
6. London-based Santander UK has inked a Memorandum of Understanding (MoU) with ICICI Bank to facilitate the banking requirements of corporates operating across both countries. This MoU will establish a framework of partnership between the banks to meet the financial service requirements of corporate customers operating within the India-UK corridor.
7. The Unified Payments Interface (UPI), India’s flagship digital payments platform, has recorded 5.58 billon transactions worth Rs. 9.83 trillion in April 2022. This is the highest ever number of transactions recorded by UPI.
8. Bharti AXA Life Insurance has launched a financial literacy campaign named 'InspiHE₹-enabling an empowered future'. It is a special initiative to spread financial awareness among women and enable them to make informed financial decisions for a secured future. The campaign will commence in Mumbai, Maharashtra, with on-the ground education sessions for a group of mothers.
9. Bank of Maharashtra has launched a range of digital products, including for lead engagement and direct sales, and Kisan Credit Card (KCC), as part of its strategy to harness digital banking channels to the optimum level.
10. Bank of India (BOI) has tied up with Worldline India, a payment service firm, to digitize eChallan collections for the Madhya Pradesh Police Department. BOI and MP Police Department has signed a Memorandum of Association (MoA) to integrate Point of Sale (POS) terminals with e-challan portal of police department.
The Reserve Bank of India (RBI) has published its ‘Half Yearly Report on Management of Foreign Exchange Reserves: October 2021 - March 2022’. The present report, which is 38th in the series, is with reference to the position as on end-March 2022.
Key Highlights:
2. The Reserve Bank of India (RBI) has extended the period of restrictions on two banks: Solapur-based Laxmi Co-operative Bank and Bengaluru-based Sri Guru Raghavendra Sahakara Bank Niyamitha.
1. Gurusamy Krishnamoorthy, chief executive officer of Penlon, a British medical device manufacturing firm, has received the Most Excellent Order of the British Empire (Civil Division) Award 2022 - Honorary Member of the Order of the British Empire (MBE) recognition from the Queen at Buckingham Palace, London, UK. He has been honoured for his contributions to the COVID-19 pandemic ventilator challenge. He hails from Madurai, Tamil Nadu.
MBE: An MBE is an order of the British Empire award. It is the third highest ranking Order of the British Empire award, behind Commander of the Order of the British Empire (CBE) which is first and then Officer of the Order of the British Empire (OBE).
2. The Bengali translation of French novel “Meursault, contre-enquête” (The Meursault Investigation) has won the fifth Romain Rolland Book Prize 2022. The award has been presented to translator Trinanjan Chakraborty and publisher Esha Chatterjee of Patra Bharati during the French LitFest 2022 at Bikaner House in New Delhi. It is the debut novel of Algerian writer and journalist Kamel Daoud. Romain
Rolland Book Prize:
3. Indian architect Balkrishna Vithaldas Doshi has been awarded the Royal Gold Medal 2022, one of the world’s highest honours for architecture, by the Royal Institute of British Architects (RIBA). It is noteworthy that he is the only one from India and to have been awarded both the Royal Gold Medal and the Pritzker Architecture Prize (2018), often referred to as the Nobel Prize of architecture. He is credited with designing some of the most iconic structures in Ahmedabad. Some of his key projects are: Shreyas Comprehensive School Campus, Ahmedabad (1958-63); Atira Guest House, Ahmedabad (1958); The Institute of Indology, Ahmedabad (1962); Ahmed-abad School of Architecture (1966 – renamed CEPT University in 2002); Tagore Hall and Memorial Theatre, Ahmedabad (1967); Premabhai Hall, Ahmedabad (1976); IIM Bangalore (1977-1992); Kanoria Centre for Arts, Ahmedabad (1984); and Amdavad ni Gufa (1994).
4. The Chief Minister of West Bengal, Mamta Banerjee has been honoured with the Special Bangla Academy Award for her book “Kabita Bitan”, which was launched at the 2020 Kolkata Book Fair. The book contains 946 poems. She has been honoured for her “relentless literary pursuit” at the “Ravi Pranam” function organised by the state government’s information and culture department on the occasion of Rabindranath Tagore’s 161st birth anniversary. The award is introduced this year by Sahitya Academy.
5. Dr Frank Wilczek (USA), the Nobel Prize-winning theoretical physicist and author, has won the Templeton Prize 2022, the world’s largest individual lifetime achievement award, valued at $1.3 million. With this, he has become the 6th Nobel laureate to receive the Templeton Prize since its inception in 1972.
Templeton Prize:
6. Footballer Lionel Messi (Argentina) has topped the Forbes' highest-paid athletes list for 2022 with a total net worth of USD 130 million. He had moved from Barcelona club to Paris SaintGermain club in August 2021.
1. M Venkaiah Naidu, Vice President of India, has released a book titled “The Struggle for Police Reforms in India: Ruler’s Police to People’s Police”. The book has been authored by a former IPS officer Prakash Singh in New Delhi. The book is published by Rupa Publications India Private Limited. This book depicts the efforts made to bring about police reforms in India.
2. Vice President M Venkaiah Naidu has released the book titled “Modi@20 Dreams Meet Delivery” in New Delhi. The book presents different facets of the distinct thought process, the pioneering, pro-active approach and the quintessential, transformational leadership style that Narendra Modi has come to be so closely identified with. The book is an anthology edited and compiled by BlueKraft Digital Foundation, and is a compilation of chapters authored by eminent intellectuals and domain experts, Rupa Publications.
1. The Union Ministry of Law and Justice has announced Rajiv Kumar, the current Election Commissioner, to be appointed as the next Chief Election Commissioner (CEC) of India. He will succeed Sushil Chandra. He will take over as the 25th CEC of India on 15th May 2022 and will hold the position till 18th February 2025. He is an IAS officer of the 1984 batch of the Bihar/Jharkhand cadre.
2. Bollywood actress Deepika Padukone has been appointed as first-ever Indian brand ambassador of Louis Vuitton, a French luxury fashion house. With this, she has become the first Indian to hold the position of House Ambassador for Louis Vuitton.
The other Louis Vuitton House Ambassador includes Emma Stone, an Oscar winner, and Zhou Dongyu, China’s leading actor.
3. Sanjiv Bajaj, chairman and managing director of Bajaj Finserv Limited, has been elected as the President of the Confederation of Indian Industry (CII) for 2022-23. He has succeeded T V Narendran, CEO and managing director of Tata Steel Limited.
4. John Lee Ka-chiu, a former Hong Kong security chief, has been named as the next chief executive of Hong Kong. He will replace Carrie Lam.
5. Lakpa Sherpa (Nepal) has become the first woman to climb Mount Everest for 10th time. She has broken her own record of most successful climbs by a woman. She last climbed the 8,848.86-meter (29,031.69-foot) mountain in 2018.
6. Tata Sons has recently appointed Campbell Wilson, CEO of Scoot, a low-cost subsidiary of Singapore Airlines, as the CEO and MD of Air India.
7. The Union government has appointed Justice Sudhanshu Dhulia, the chief justice of Guwahati High Court, and Justice Jamshed Burjor Pardiwala, a judge of the Gujarat High Court, as judges of the Supreme Court of India. The Collegium headed by Chief Justice of India NV Ramana had recommended their names for appointment on 5th May 2022. The other members of the Collegium are Justices UU Lalit, AM Khanwilkar, DY Chandrachud and L Nageswara Rao.
8. Dr. Pushp Kumar Joshi has taken charge as the new Chairman & Managing Director of the Hindustan Petroleum Corporation Limited (HPCL) with effect from 8th May 2022. He has succeeded Mukesh Kumar Surana.
9. Yoon Suk Yeol, a conservative political neophyte, has become the new President of South Korea. He has succeeded Moon Jae-in, who served as President from 2017 to 2022.
1. Renowned Odia litterateur Rajat Kumar Kar, a Padma Shri awardee, has passed away recently in Bhubaneswar, Odisha. He was born on 2nd October 1934 in Mahanga village of Cuttack district, Odisha. He was honoured with the Padma Shri award in 2021 for his contribution in the field of Literature and Education.
2. Indian politician Pandit Sukh Ram has passed away recently in New Delhi. He was born on 27th July 1927 in Kotli town of Mandi district of Himachal Pradesh. He was associated with the Congress party. He served as the Union Minister of Communication and IT (Independent charge) from 1993 to 1996.
3. Noted Indian music composer and santoor player Pandit Shivkumar Sharma has recently passed away due to kidney-related issues in Mumbai, Maharashtra. He was born on 13th January 1938 in Jammu. He was honoured with the Sangeet Natak Akademi Award in 1986, Padma Shri in 1991 and Padma Vibhushan in 2001.
4. Sheikh Khalifa bin Zayed al Nahyan, ruler of Abu Dhabi and president of the United Arab Emirates, has passed away recently. He was born on 7th September 1948 in Al Ain, UAE. He served as the President of the UAE, the ruler of Abu Dhabi, and the supreme commander of the UAE Armed Forces from 2004 to 2022.
5. It is noteworthy that the world's tallest man-made structure, originally known as Burj Dubai, was renamed the Burj Khalifa in his honour in 2010.
6. Leonid Kravchuk, who became the first president of independent Ukraine, has passed away recently in Kyiv, Ukraine. He was born on 10th January 1934 in Velykyi, Zhytyn, Rivne region, Ukraine.
7. Russian chess grandmaster, Yuri Averbakh has recently passed away at the age of 100 in Moscow, Russia. He was born on 8th February 1922 in Kaluga, Russia. He won the Moscow Championship in 1949 and earned the Grandmaster title in 1952. He became the champion of the USSR in 1954. He also chaired the Chess Federation of the USSR from 1972 to 1977.
1. Netherlands Red Bull driver Max Verstappen has won the first edition of the Formula 1 Miami Grand Prix 2022 at the Miami International Autodrome in Miami Gardens, Florida, USA. He has defeated Monaco’s Ferrari driver Charles Leclerc.
2. Indian Grandmaster D Gukesh from Chennai, Tamil Nadu has won the 1st Chessable Sunway Formentera Open Chess 2022 tournament held in Spain. He has settled for a draw with Armenian GM Haik M Martirosyan in the final round to win the title with eight points.
3. Indian Grandmaster Arjun Erigaisi (Telangana) has finished second in the 2022 TePe Sigeman Chess Tournament held in Malmo Sweden. Hans Moke Niemann (USA) has won the tournament.
4. The Archery Asia Cup 2022 Stage 2 has been held from 6th to 11th May 2022 in Sulaymaniyah, Iraq. India has won a total of 14 medals (8 gold, 4 silver and 2 bronze) in the tournament.
Archery Asia Cup 2022 Stage 2 Iraq: India medal winners
1. World Thalassemia Day is observed annually on 8th May to spread awareness to honour the struggle of patients suffering from this disease. The day was created in 1994 by Panos Englezos, president and the founder of the Thalassemia International Federation (TIF), in the loving memory of his son George and the other thalassemia patients who fought this disease.
2. World Red Cross and Red Crescent Day is observed annually on 8th May to celebrate the uniqueness and unity of International Red Cross and Red Crescent Movement. The day also marks the birth anniversary of Jean-Henry Dunant, who was born on 8 May 1828. The day was first observed in 1948.
3. United Nation’s International Day of Argania is observed annually on 10th May to recognize the significance of the Argan tree in achieving the 3 dimensions, Economic, Social, and Environmental, of sustainable development at the local level. The day was first observed in 2021.
4. International Nurses Day is observed annually on 12th May to recognize the strong commitment, compassion and dedication that nurse’s display in the practice of their profession. The day also marks the birth anniversary of Florence Nightingale, the English social reformer, statistician and founder of modern nursing. She was also known as Lady with the Lamp.
5. World Migratory Bird Day is observed twice a year since its inauguration in 2006. The day is celebrated bi-annually on the second Saturday in May and in October. This year, the day falls on 14 May and 8 October. It is an annual awareness-raising campaign highlighting the need for the conservation of migratory birds and their habitats.
39 videos|4667 docs|1028 tests
|
1. What are some popular government schemes and programmes in India? |
2. What is the role of RBI in the Indian economy? |
3. Which awards and recognitions are given in India? |
4. Who are some famous authors and their notable books? |
5. Which sports events are celebrated on important days in India? |
39 videos|4667 docs|1028 tests
|
|
Explore Courses for UPSC exam
|