Current Affairs 28 July 2022

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Current Affairs 28 July 2022 includes all newspapers such as The Hindu, The Economic Times, Business Standard, Times of India, PTI, Indian Express, and all Government official websites.

 News Headlines 

1. India’s Ramsar sites tally rises to 54, three of them are in Tamil Nadu
2. Piramal Enterprises gets RBI nod to start NBFC business
3. The global financial institution IMF cuts India’s FY23 growth forecast by 80 bps to 7.4%
4. Russia will withdraw from International Space Station project after 2024
5. Tata Group successfully delivered indigenously developed Quick Reaction Fighting Vehicle to Indian Army
6. ECGC launches new scheme for Small Exporters to provide Enhanced Export Credit Risk Insurance Coverage of up to 90%
7. HDFC Securities partners Equitas Small Finance Bank to offer demat and trading services
8. Wipro wins five-year contract from Nokia for digital transformation
9. CCI approves Greenforest New Energies’ stake buy in Tata Power Renewable
10. City Union Bank, Aditya Birla Health ink bancassurance pact
11. World Athletics Championships 2022: Armand Duplantis breaks own pole vault World Record En Route Gold
12. The World Athletics Championships 2022, the US win most gold medals, India at 33rd
13. European Investment Bank of EU joins India-led Coalition for Disaster Resilient Infrastructure
14. ‘The Life and Times of George Fernandes’ – biography of Former Defence Minister George Fernandes, by Rahul Ramagundam
15. First homegrown Covid antiviral pill approved by China
16. Former Indian Army chief Gen Naravane, Ex US Defence Secretary honoured for strengthening Indo-US ties
17. IIT Bhubaneswar gets MeitY approval to carry out Chips to Startup Program
18. Denmark’s Jonas Vingegaard of wins his 1st Tour de France title
19. For Indian Navy’s surface ships BEL to supply Anti-submarine Warfare systems
20. To set up Centre of Excellence for MSME Sector NSIC signs MoU with LG Electronics
21. Dipa Karmakar’s coach Bisheshwar Nandi appointed Indian women’s gymnastic coach for Commonwealth Games 2022
22. Bajram Begaj takes oath as new President of Albania

 News Details 

1. India’s Ramsar sites tally rises to 54, three of them are in Tamil Nadu

• The new sites are Karikili Bird Sanctuary, Pallikaranai Marsh Reserve Forest, and Pichavaram Mangrove in Tamil Nadu; Sakhya Sagar in Madhya Pradesh, and Pala Wetland in Mizoram.
• Bhupender Yadav made the announcement on 26 July, which happens to mark the International Day for the Conservation of the Mangrove Ecosystem.
• Union Cabinet Minister for Environment, Forest, and Climate Change Bhupender Yadav.

2. Piramal Enterprises gets RBI nod to start NBFC business

• RBI Under Section 45 IA of the Reserve Bank of India Act, 1934, has granted Certificate of Registration to the Ajay Piramal-led Piramal Enterprises Ltd (PEL) to commence the business of non-banking financial institutions without accepting public deposits.
• Back in 2021, the company made an application to the RBI for an NBFC licence.
• About Piramal Enterprises:
  • Founded: 26 April 1947.
  • Headquarters: Mumbai.

3. The global financial institution IMF cuts India’s FY23 growth forecast by 80 bps to 7.4%

• The International Monetary Fund (IMF) has cut its gross domestic product (GDP) growth forecast for India for the current financial year by 80 basis points to 7.4%. Similarly, for FY24, the growth forecast now stands at 6.1 percent as against 6.9% earlier.
• IMF’s latest growth forecast for India is only marginally higher than that of the RBI’s projection of 7.2%.
• About IMF:
  • Headquarters: Washington, D.C., U.S.
  • Managing Director: Kristalina Georgieva.
  • Founded: 27 December 1945.

4. Russia will withdraw from International Space Station project after 2024

• Russia will pull out of the International Space Station after 2024 and focus on building its own orbiting outpost.
• The space station is jointly run by the space agencies of Russia, the U.S., Europe, Japan and Canada.
• The first piece was put in orbit in 1998, and the outpost has been continuously inhabited for nearly 22 years.

5. Tata Group successfully delivered indigenously developed Quick Reaction Fighting Vehicle to Indian Army

• Tata Advanced Systems Limited (TASL) said that the induction of the Quick Reaction Fighting Vehicle-Medium (QRFV) will enhance the operational capabilities of the Indian Army in future conflicts.
• The induction of these vehicles will enhance the operational capabilities of the Army.
• This ‘fire & fury’ vehicle has been developed by Tata Advanced Systems.
• MD & CEO of TASL: Sukaran Singh.

6. ECGC launches new scheme for Small Exporters to provide Enhanced Export Credit Risk Insurance Coverage of up to 90%

• ECGC Ltd. has introduced a scheme to provide enhanced export credit risk insurance cover to the extent of 90% to support small exporters.
• ECGC = Export Credit Guarantee Corporation of India.
• In this regard it has signed up State Bank of India (SBI) under the Export Credit Insurance for Banks Whole Turnover Packaging Credit and Post Shipment (ECIB- WTPC & PS).
• SBI has agreed to provide export credit at repo rate plus 1.3%.
• About ECGC:
  • Headquarters: Mumbai.
  • Founded: 30 July 1957.
  • Senthilnathan: Chairman & MD.

7. HDFC Securities partners Equitas Small Finance Bank to offer demat and trading services

• Stock broking company HDFC Securities has partnered with Equitas Small Finance Bank to provide its clients with a demat account and broking investment services.
• With this, Equitas SFB will be able to offer its customers a 3-in-1 account that helps them access the services of HDFC Securities.
• The stock broking company will oversee the entire journey for customers.
• About Housing Development Finance Corporation (HDFC):
  • CEO: Sashidhar Jagdishan.
  • Headquarters: Mumbai.
  • Founded: August 1994.

8. Wipro wins five-year contract from Nokia for digital transformation

• Tech major Wipro has announced signing a five-year contract with global networking and telecom player Nokia for digital transformation.
• Wipro, as part of the agreement, will deliver global business services in support of Nokia’s renewed operating model.
• The new agreement builds on a partnership originally established over 20 years ago.
• About Wipro:
  • CEO: Thierry Delaporte.
  • Founder: M.H. Hasham Premji.
  • Headquarters: Bengaluru.
  • Founded: 29 December 1945.

9. CCI approves Greenforest New Energies’ stake buy in Tata Power Renewable

• The Competition Commission of India (CCI) approves acquisition of stake in Tata Power Renewable Energy Limited (TPREL) by Greenforest New Energies Bidco Limited.
• The proposed combination will be an acquisition of up to 11.43% of the equity share capital of TPREL by Greenforest.
• TPREL is a wholly owned subsidiary of Tata Power Company Limited.
• TPREL Founded: 2007.

10. City Union Bank, Aditya Birla Health ink bancassurance pact

• City Union Bank and Aditya Birla Health Insurance Co Ltd (ABHICL), the health insurance subsidiary of Aditya Birla Capital Ltd, have announced a bancassurance partnership for the distribution of health insurance products of the latter through the former’s network of branches across the country.
• This is the 3rd such tie-up for CUB after pacts with Star Health & Care Health.
• N Kamakoti, MD & CEO of CUB, and Mayank Bathwal, CEO, Aditya Birla Health Insurance.
• About City Union Bank:
  • Headquarters: Kumbakonam.
  • CEO: Dr. N. Kamakodi.
  • Founded: 1904.

11. World Athletics Championships 2022: Armand Duplantis breaks own pole vault World Record En Route Gold

• Sweden’s Armand Duplantis added a new world record to his pole vault world title, clearing 6.21m in a virtuoso performance in Oregon.
• The 22-year-old Olympic champion had gold secured with a first-time clearance of 6m. None of his rivals managed higher than 5.94m.
• Duplantis then beat his own world record of 6.20m – set in Belgrade in March – at the second attempt.
• This marked the first time a record has been set outdoors since Sergey Bubka in 1994.

12. The World Athletics Championships 2022, the US win most gold medals, India at 33rd

• The US finished on top of the medal standings at the World Athletics Championships 2022, winning 13 gold, nine silver and 11 bronze medals.
• The US are followed by Ethiopia, who bagged four gold, four silver and two bronze medals.
• Jamaica came third, followed by Kenya, China, Australia, Peru and Poland.
• India finished joint 33rd with one silver medal.

13. European Investment Bank of EU joins India-led Coalition for Disaster Resilient Infrastructure

• The European Investment Bank (EIB), the lending arm of the European Union (EU), has joined the India-led Coalition for Disaster Resilient Infrastructure (CDRI) as part of efforts to limit damage caused by climate change.
• EIB has also announced plans to double its annual investments in India from the current level of about €500 million in the next two years.
• CDRI was launched at the UN Climate Action Summit in 2019.

14. ‘The Life and Times of George Fernandes’ – biography of Former Defence Minister George Fernandes, by Rahul Ramagundam

• “The Life and Times of George Fernandes”, written by Rahul Ramagundam, was released under Penguin’s ‘Allen Lane’ imprint on July 25.
• This “first comprehensive biography” on the veteran socialist leader, widely considered an anti-Emergency hero, marks the 47th anniversary of the Emergency.

15. First homegrown Covid antiviral pill approved by China

• China approved its first homegrown Covid antiviral, as regulators cleared a medicine from Genuine Biotech that was used to treat HIV.
• The National Medical Products Administration gave the nod to Azvudine from the Henan-based drug company for adults with normal symptoms under an emergency use authorization.

16. Former Indian Army chief Gen Naravane, Ex US Defence Secretary honoured for strengthening Indo-US ties

• The US-India Strategic Partnership Forum (USISPF) presented global leadership and public service awards to those persons who have been instrumental in strengthening ties between the US and India.
• Along with Naravane, former US Defence Secretary General Jim Mattis has also been awarded the public service award.
• Chief of the Army Staff: General Manoj Pande.

17. IIT Bhubaneswar gets MeitY approval to carry out Chips to Startup Program

• Indian Institute of Technology in Bhubaneswar has been given permission to carry out a project under the Chips to Startups program.
• The approval calls for a five-year project to be carried out at IIT Bhubaneswar with the working title ‘Energy Efficient Mesh Architecture Based Indigenous Neuromorphic Processor for Extreme Edge IoT (internet of things) Applications’.
• Ashwini Vaishnaw: Minister for electronics and information technology.

18. Denmark’s Jonas Vingegaard of wins his 1st Tour de France title

• Denmark’s Jonas Vingegaard has won the 109th Tour de France as the world famous race came to its traditional conclusion on Paris’ grand Champs Elysees.
• Vingegaard also won the polka dot jersey, which is awarded to the rider who wins the most points from the tour’s various climbing stages.
• Tour de France established in 1903 by Henri Desgrange.

19. For Indian Navy’s surface ships BEL to supply Anti-submarine Warfare systems

• To bolster the reconnaissance capabilities of the Indian Air Force, Bharat Electronics Limited (BEL) has inked a Rs 50 crore contract with the Ministry of Defence to supply 9 integrated ASW complex (IAC) MOD ‘C’ Systems – an Integrated Anti-submarine Warfare system for all surface ships of the Indian Navy.
• About BEL:
  • Headquarters: Bengaluru.
  • Founded: 1954.
  • Chairman & MD of BEL: Anandi Ramalingam.

20. To set up Centre of Excellence for MSME Sector NSIC signs MoU with LG Electronics

• In this endeavour, the LG Electronics and Electronics Sector Skills Council of India (ESSCI) will set up a “Centre of Excellence” at NSIC – Technical Services Centre aimed at training underprivileged youth in the fields of consumer electronics and appliances.
• In the first year, 600 youth per year would be benefitted on electronics goods servicing and repairing.
• ESSCI Chairman: Mr. Amrit Manwani.

21. Dipa Karmakar’s coach Bisheshwar Nandi appointed Indian women’s gymnastic coach for Commonwealth Games 2022

• Gymnastics coach Bisheshwar Nandi, who guided Dipa Karmakar to a historic fourth place finish at the 2016 Rio Olympics, has been named coach of the Indian women’s team for the Commonwealth Games in Birmingham in place of Rohit Jaiswal.
• Nandi has been the five times National Champion in gymnastics and has led the Indian team on six occasions.

22. Bajram Begaj takes oath as new President of Albania

• Bajram Begaj, a retired military officer and politician, took oath at a swearing-in ceremony in Parliament as the 9th President of Albania.
• A total of 83 lawmakers participated in the voting that took place in the plenary session in Parliament, where Begaj received 78 votes in favour, while four lawmakers voted against and there was one abstention.
• About Albania:
  • Capital: Tirana.
  • Currency: Albanian lek.
  • Prime Minister: Edi Rama.

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