Current Affairs 28 May 2022

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Current Affairs 28 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. Geetanjali Shree’s Novel ‘Tomb of Sand’, becomes first novel translated from Hindi to win International Booker prize
2. Japan’s MUFG Bank to set up branch in GIFT City, sixth in India
3. Insurance firm Howden gets IRDAI approval to raise shareholding in Howden India to 100 %
4. RBI slashes net-worth requirement for Non-Bank Bharat Bill Payment
5. Defence Minister Rajnath Singh approves new Defence Estates Circle for Uttarakhand
6. UN cuts India growth estimate to 6.4% in 2022
7. FinMin comes out with new guarantee policy
8. 2022 Global Food Policy Report: Climate Change & Food Systems
9. Tata Technologies signs pact with Assam Govt to transform polytechnics, ITIs into centres of excellence
10. Adani Group acquires new franchise team in UAE’s T20 League
11. India– Bangladesh Bilateral Exercise ‘Bongosagar’ Commences
12. NIT-T commissions Param Porul Super Computer Centre, becomes part of NSM
13. Delhi High Court forms Committee of Administrators (CoA) for Hockey India
14. Indian officer Anwar Hussain Shaik is new chair of a WTO committee
15. RBI issues norms for import of gold by qualified jewellers
16. Coal Ministry to Organize National Mineral Congress & Coal Gasification Plant Visit in Bhubaneshwar
17. PM chairs 40th PRAGATI Interaction
18. Ministry of Education releases National Achievement Survey 2021 report
19. PM Modi headed Inter-State Council reconstituted; Amit Shah Chairman of standing committee

 News Details 

1. Geetanjali Shree’s Novel ‘Tomb of Sand’, becomes first novel translated from Hindi to win International Booker prize

• Hindi author Geetanjali Shree’s novel Ret Samadhi, Tomb of Sand has won the International Booker prize, becoming the first novel translated from Hindi to do so.
• Geetanjali Shree is not only the award’s first Hindi winner, but also it is for the first time a book originally written in any Indian language has won the booker prize.

2. Japan’s MUFG Bank to set up branch in GIFT City, sixth in India

• MUFG Bank has obtained necessary approvals from the International Financial Services Centre Authority in India and the Financial Services Agency in Japan, to open a branch at Gujarat International Financial Tech City (GIFT City).
• GIFT City provides an opportunity to book India-linked offshore business on the shores of India thereby expanding business.
• MUFG had opened its first branch in Mumbai in 1953.
• MD & Group CEO of GIFT City: Tapan Ray.

3. Insurance firm Howden gets IRDAI approval to raise shareholding in Howden India to 100 %

• Howden, an international insurance broker, has received insurance regulator IRDAI’s approval to raise its shareholding in Howden Insurance Brokers India Private Limited (Howden India) from 49 per cent to 100 per cent, said Praveen Vashishta, Chairman, Howden India.
• The company, which got its trading licence in 2004 as a composite insurance broker.

4. RBI slashes net-worth requirement for Non-Bank Bharat Bill Payment

• RBI eased norms for non-bank entities to set up Bharat Bill Payment operating units (BBPOUs) by reducing the net-worth requirement to Rs 25 crore, with a view to encourage more players in the segment.
• This circular is issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), and shall come into effect immediately.

5. Defence Minister Rajnath Singh approves new Defence Estates Circle for Uttarakhand

• Rajnath Singh has approved the proposal for the creation of a new Defence Estates Circle exclusively for Uttarakhand.
• In view of the difficulties faced in managing large tracts of defence land in the state and the demand of cantonment residents in Uttrakhand, the MoD will establish an independent office of Defence Estates at Dehradun and a sub-office at Ranikhet.

6. UN cuts India growth estimate to 6.4% in 2022

• According to the United Nations, India is expected to grow 6.4% in 2022, well below the 8.8% growth in 2021, as higher inflationary pressures and uneven recovery of the labour market are likely to curb private consumption and investment.
• It said the global economy is now projected to grow 3.1% in 2022 down from 4% projected in January 2022.

7. FinMin comes out with new guarantee policy

• Replacing a 12-year-old policy, the Finance Ministry has come out with a new Government Guarantee Policy (GGP), which aims to include all the changes in General Financial Rules (GFR) and financial policies.
• Such a policy is required as the volume of sovereign guarantees undertaken during a financial year is limited as per the Fiscal Responsibility and Budget Management Act.

8. 2022 Global Food Policy Report: Climate Change & Food Systems

• According to the Global Food Policy Report 2022 published by the International Food Policy Research Institute (IFPRI), India’s food production could drop 16% and the number of those at risk for hunger could increase 23% by 2030 due to climate change.
• The number of Indians at risk from hunger in 2030 is expected to be 73.9 million in 2030.

9. Tata Technologies signs pact with Assam Govt to transform polytechnics, ITIs into centres of excellence

• Global engineering and product development digital services firm Tata Technologies Ltd has entered into a collaboration with the Assam government to transform 34 state polytechnics and 43 Industrial Training Institutes (ITIs) into futuristic Centres of Excellence (CoEs) entailing an investment of about Rs 2,390 crore.

10. Adani Group acquires new franchise team in UAE’s T20 League

• Adani Sportsline, a part of the diversified Adani Group, has entered into franchise cricket by acquiring a franchise in the United Arab Emirates (UAE)’s flagship T20 league.
• Adani Group also attempted buying the 2022’s Indian Premier League (IPL) team in October 2021.
• UAE’s T20 League is an annual event licensed by Emirates Cricket Board.

11. India– Bangladesh Bilateral Exercise ‘Bongosagar’ Commences

• 3rd edition of Indian Navy – Bangladesh Navy Bilateral Exercise ‘Bongosagar’ commenced at Port Mongla, Bangladesh on 24 May 22.
• The Harbour Phase of exercise is scheduled from 24-25 May followed by a Sea Phase in the Northern Bay of Bengal from 26-27 May.
• Indian Navy Ships Kora and Sumedha & BNS Abu Ubaidah and Ali Haider from Bangladesh will be participating.

12. NIT-T commissions Param Porul Super Computer Centre, becomes part of NSM

• National Institute of Technology, Tiruchi became part of the National SuperComputing Mission (NSM), GOI, by commissioning the Param Porul Super Computer Centre.
• It was sanctioned a Super Computer worth ₹119 crore by the MeITY and the DST.
• Bhaskar Bhat, Chairman, Board of Governors, NIT-T inaugurated the Param Porul Computing Centre.

13. Delhi High Court forms Committee of Administrators (CoA) for Hockey India

• The Delhi High Court has appointed a three-member CoA for Hockey India and the administrative setup of Hockey India is erroneously or illegally constituted because of the Life President.
• While the terms of power and responsibility for the CoA – comprising Justice (Retd) Anil Dave, former CEC S.Y. Quraishi and Zafar Iqbal – are similar to that of the one formed for the AIFF.

14. Indian officer Anwar Hussain Shaik is new chair of a WTO committee

• After a gap of ten years, an Indian government officer — Anwar Hussain Shaik — has been made the chair of the WTO’s committee on Technical Barriers on Trade.
• He will take this role from Elisa Maria Olmeda de Alejandro from Mexico.
• Headquarters of WTO: Geneva, Switzerland.

15. RBI issues norms for import of gold by qualified jewellers

• The RBI came up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX)/similar authorised exchange by Qualified Jewellers in India.
• The RBI issued the guidelines in order to enable resident Qualified Jewellers to import gold through IIBX or any other exchange approved by IFSCA & the Directorate General of Foreign Trade.

16. Coal Ministry to Organize National Mineral Congress & Coal Gasification Plant Visit in Bhubaneshwar

• The Ministry of Coal will be organizing the National Mineral Congress and field visit of the Coal Gasification Plant of JSPL at Angul, Bhubaneshwar on 27th and 28th May 2022.
• Anil Kumar Jain who is also Chairman of Indian National Committee of World Mining Congress (INC WMC) will be inaugurating the Congress.

17. PM chairs 40th PRAGATI Interaction

• Prime Minister Shri Narendra Modi has chaired the meeting of 40th edition of PRAGATI, the ICT based multi-modal platform for Pro-Active Governance and Timely Implementation, involving Centre and State governments.
• Nine agenda items were taken for review including eight projects and one Programme.

18. Ministry of Education releases National Achievement Survey 2021 report

• The Department of School Education and Literacy, Ministry of Education has released the National Achievement Survey (NAS) 2021 report which assesses the health of the school education system in the country by conducting a comprehensive evaluation survey of children’s learning competencies at classes III, V, VIII and X with a cycle period of three years.

19. PM Modi headed Inter-State Council reconstituted; Amit Shah Chairman of standing committee

• Ten union ministers will be the permanent invitees to the Inter-State Council
• Union Ministers are the members of the council.
• Established to promote and support cooperative federalism in the country.
• Composition of the standing committee of the Inter-State Council: Amit Shah (Chairman), Nirmala Sitharaman, Narendra Singh Tomar, Virendra Kumar and Gajendra Singh Shekhawat.

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