Current Affairs 22 May 2022

Dear aspirants, to crack any type of competitive examination current affairs plays a significant role and for that we are providing daily important news that are most important for your examination. So we are here for you to provide the important Recent and Latest Current Affairs 22 May 2022.

Current Affairs 22 May 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. 13th Annual Day commemoration of the Competition Commission of India
2. RBI surplus transfer to govt down 69% at ₹30,307 crore
3. IDBI Bank to sell 25% stake in Ageas Federal Life Insurance for Rs 580 cr
4. Chessable Masters: Indian teenager Praggnanandhaa stuns Magnus Carlsen for the 2nd time in 2022
5. Union Education Minister Dharmendra Pradhan inaugurates North East Research Conclave 2022 at IIT Guwahati
6. Saudi Tourism signs MoU with EaseMyTrip
7. The State of Inequality in India Report released
8. Hyderabad-based Skyroot Aerospace successfully test fires engine of Vikram-1 rocket
9. Nikhat Zareen becomes world champion after beating Thailand’s Jitpong Jutamas
10. CCI approves OFB Tech’s acquisition of majority stake in SMW Ispat
11. CCI clears Serum Institute Life Sciences-Biocon Biologics deal
12. GeM inks MoU with Self Employed Women’s Association
13. Walmart-backed PhonePe set to acquire WealthDesk, OpenQ for $75 million

 News Details 

1. 13th Annual Day commemoration of the Competition Commission of India

• Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman participated in the 13th Annual Day commemoration of the Competition Commission of India as Chief Guest in New Delhi and inaugurated the regional office at Kolkata and launched an upgraded website of CCI.
• She also released CCI’s Competition Advocacy Booklets translated into Kannada and Malayalam.

2. RBI surplus transfer to govt down 69% at ₹30,307 crore

• The Reserve Bank of India’s (RBI) Board approved a sharply lower surplus transfer of ₹30,307 crores to the government for the accounting year 2021-22, the lowest in 10 years.
• This is in sharp contrast to the surplus transfer of ₹99,122 crore for nine months ended March 31, 2021 (July 2020-March 2021).
• In FY21, the RBI had transitioned to the April-March accounting year from July-June earlier.
• For FY23, the government is targeting about ₹74,000 crore as dividend/surplus from RBI.

3. IDBI Bank to sell 25% stake in Ageas Federal Life Insurance for Rs 580 cr

• IDBI Bank has entered into a share purchase agreement with Ageas Insurance International, wherein the bank is looking to sell its remaining stake of 25 percent in private sector life insurer Ageas Federal Life Insurance for Rs 580 crore, making Ageas one of the few foreign insurers to raise its stake in its Indian insurance joint venture to 74 percent.
• As of March 31, LIC-controlled IDBI Bank holds 25% stake in the AFLI.

4. Chessable Masters: Indian teenager Praggnanandhaa stuns Magnus Carlsen for the 2nd time in 2022

• Indian GM Praggnanandhaa posted his second win over world champion Magnus Carlsen in 3 months when he stunned the Norwegian at the Chessable Masters online rapid chess tournament.
• 16-year-old Praggnanandha beat Magnus Carlsen for the first time in February at Airthings Masters, an online rapid chess tournament.

5. Union Education Minister Dharmendra Pradhan inaugurates North East Research Conclave 2022 at IIT Guwahati

• Indian Institute of Technology (IIT) Guwahati has inaugurated ‘North East Research Conclave 2022’ on May 20, 2022 in the presence of eminent dignitaries.
• It is being held between 20th and 22nd May 2022 jointly with the Science, Technology, and Climate Change Department and the Department of Education, Government of Assam at the IIT Guwahati campus.
• Shri Dharmendra Pradhan, Union Education Minister, has inaugurated the event.

6. Saudi Tourism signs MoU with EaseMyTrip

• The Saudi Tourism Authority and EaseMyTrip have signed a Memorandum of Understanding (MoU) to boost inbound tourism to Saudi Arabia by leveraging the company’s travel network.
• Through this MoU, EaseMyTrip and Saudi Arabia Tourism will explore opportunities to jointly collaborate on key initiatives and undertake various activities.

7. The State of Inequality in India Report released

• The State of Inequality in India Report was released by Dr Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister (EAC-PM).
• The report has been written by the Institute for Competitiveness and presents a holistic analysis of the depth and nature of inequality in India.
• The report consists of two parts – Economic Facets and Socio-Economic Manifestations.

8. Hyderabad-based Skyroot Aerospace successfully test fires engine of Vikram-1 rocket

• Hyderabad-based space tech startup Skyroot Aerospace announced the successful completion of a full duration test-firing of its Vikram-1 rocket engine, the country’s first privately designed and developed rocket.
• Vikram-1 has three solid fuel-powered stages.
• Each stage has a burn time ranging between 80 and 108 seconds.
• Skyroot co-founder and CEO Pawan Kumar Chandana.

9. Nikhat Zareen becomes world champion after beating Thailand’s Jitpong Jutamas

• Zareen became the first boxer in 14 years, other than Mary Kom, to win the IBA Women’s World Boxing Championship as she defeated Thailand’s Jutamas Jitpong in the 52kg final in Istanbul.
• She is now only the fifth Indian woman to win the world championships in any weight category.
• Mary Kom had last won the gold in the 48kg in the 2018 edition.
• The 12th edition of the IBA Women’s World Boxing Championships took place in Istanbul,Turkey.

10. CCI approves OFB Tech’s acquisition of majority stake in SMW Ispat

• The Competition Commission of India (CCI) has approved acquisition of a majority stake in SMW Ispat Private Limited by OFB Tech Private Limited.
• The proposed combination envisages acquisition of majority stake in SMW Ispat Private Limited (SMW Ispat) by OFB Tech Private Limited (OFB Tech).

11. CCI clears Serum Institute Life Sciences-Biocon Biologics deal

• The Competition Commission of India (CCI) has approved a proposed deal involving Serum Institute Life Sciences, Covidshield Technologies and Biocon Biologics.
• Once the deal is complete, Serum Institute Life Sciences Pvt Ltd will have about 15 per cent stake in Biocon Biologics Ltd, according to the notice filed with the regulator.

12. GeM inks MoU with Self Employed Women’s Association

• Government eMarketplace (GeM) and Self Employed Women’s Association (SEWA) inked a memorandum of understanding (MoU) for the advocacy, outreach, mobilisation and capacity-building of last-mile women-led micro and small enterprises and women entrepreneurs.
• The MoU was signed by CEO of GeM P. K. Singh and Vice-President of SEWA Rehana Riyawala in New Delhi.

13. Walmart-backed PhonePe set to acquire WealthDesk, OpenQ for $75 million

• PhonePe, part of the Walmart Inc-controlled Flipkart group, is acquiring two investment technology platforms – WealthDesk and OpenQ– for a total enterprise value of $75 million.
• The acquisitions are a part of PhonePe’s larger game plan to open new revenue streams and diversify its offerings for users of its payment services.

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So, these are all the current affairs 22 May 2022 (today). If you want to explore the full list (all CA), including current affairs 22 May 2022, please click on the link (Current Affairs).