IGNOU M.Com Notes and Lectures by ScoreMax

 Daily Current Affair

30 September 2022

 Honours & Awards

1. Srishti Bakshi wins ‘Changemaker’ award at UN SDG Action Awards

• Indian women’s rights activist, Srishti Bakshi was honoured with the ‘Changemaker’ award at UN SDG Action Awards.
• Reason: For confronting gender-based violence and advocating for safe access to public spaces.
• This is a flagship of the UN SDG Action Campaign that 'Mobilise, Inspire and Connect' people to drive action towards a more sustainable future on a healthy planet.
• Other categories awards:
  • Mobilise: SUPvivors say NO MORE
  • Inspire: Masungi Story
  • Connect: CyprusInno

 National & International Organizations

2. India ranks 40th in Global Innovation Index of WIPO

• As per the 2022 Global Innovation Index of World Intellectual Property Organization, India has climbed to the 40th rank.
• India was at 46th position in 2021 and at 81st rank in 2015.
• Switzerland with the score of 64.6, has emerged as the world's most innovative economy for the 12th consecutive year.
• The second position was secured by the US followed by Sweden, and UK
• Other countries: China (11th); Lithuania(39th); Latvia (41st); Bangladesh  (102nd); Guinea (132nd, last)

 Banking & Finance

3. RBI hikes repo rate by 50 basis points to 5.9%

• The Reserve Bank of India (RBI) has increased repo rate by a half percent to 5.9%.
• Accordingly, Standing Deposit Facility stands adjusted to 5.65%, and Marginal Standing Facility and Bank rate stand adjusted to 6.15%.
• Since May 2022, he RBI has raised the repo rate by 190 basis points
• The Real GDP for 2022-23 is projected to grow at 7.0%.
• The RBI has retained its inflation projection at 6.7 per cent for this fiscal year.
• India’s foreign exchange reserves: $537.5 billion

 Obituaries

4. Veteran Congress leader, Jayanti Patnaik passes away

• Four time Congress MP, Jayanti Patnaik has been passed away at 90 in Bhubaneswar, Odisha.
• She was also the first chairperson of NCW (1992 to 1995) and second chairperson of All India Mahila Congress.
• She was elected from Cuttack and Berhampur Lok Sabha constituencies in 1981, 1984 and 1998.
• She was nominated to Rajya Sabha in 1996.
• She was also known for her literary skills, translated KM Munshi’s Krishnavatara into Odia.

 Important Dates

5. World Maritime Day 2022: 29th September

• The International Maritime Organization (IMO) observes World Maritime Day on the last Thursday of September.
• This year, it was observed on September 29.
• Focus: Draw public attention to maritime safety and the marine environment.
• 2022 Theme: New technologies for greener shipping
• World Maritime Day was celebrated for the first time on March 17, 1978.
• The IMO was founded in 1948 to oversee the shipping sector.

 National Affairs

6. Hitachi Astemo installs its first solar power plant in India

• Hitachi Astemo, a subsidiary of Japanese firm, Hitachi has installed its India's first solar power plant at Jalgaon manufacturing plant in Maharashtra.
• Hitachi is working to reduce its carbon emissions and become carbon neutral by 2050.
• With the set up of 3 MW solar power plant, the company would be able to eliminate close to 4000 tons of CO₂ emissions each year.
• At its Jalgaon plant, Hitachi Astemo is responsible for making high quality brake systems for vehicles.

 Summits & Conferences

7. Dharmendra Pradhan inaugurates 13th FICCI Global Skills Summit 2022

• Education minister, Dharmendra Pradhan has inaugurated the 13th FICCI Global Skills Summit 2022 in New Delhi.
• Theme 2022: Education to Employability - Making It Happen
• The Summit would look through the NEP lens and focus on how India can become the “Skill Capital of the World,” using the UN SDG4 as an underlying theme.
• The two day Summit was conclude with an event “VIRASAT” The Heritage which honours the exquisite craft of the Indian artisans. 

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 National & International Appointments

8. Data Security Council of India appoints Vinayak Godse as CEO

• Data Security Council of India (DSCI) has appointed Vinayak Godse as the new CEO of the organisation.
• Prior to this, he was serving as the senior vice president of organisation.
• He will succeed Rama Vedashree, who served DSCI for nearly six years.
• Vedashree has also served on the Justice BN Srikrishna committee, which was charged with developing a model for the nation’s Personal Data Protection Bill.
• DSCI was founded by NASSCOM.

 Schemes

9. AIFF launches Grassroots Football Development Scheme in Arunachal Pradesh

• The All India Football Federation has launched grassroots football development (GFD) scheme in Arunachal Pradesh.
• Aim: Tap, select and nurture football talents in the age group of 6 to 12 years.
• GFD committee chairman, Shantanu Pujari has launched this scheme in the presence of CM Pema Khandu and AIFF President, Kalyan Chaubey
• The state government would begin this scheme in 100 schools, and physical training teachers of selected schools would be trained by AIFF experts

 Banking & Finance

10. DBS Bank India collaborates with HDFC ERGO and Atradius

• DBS Bank (India) has collaboration with HDFC ERGO General Insurance Co Ltd and reinsured by Atradius (trade credit insurance provider).
• Aim: To provide Credit Insurance - Accounts Receivable solution to Tata Metaliks (manufacturer of pig iron and DI pipes in India).
• This credit insurance deal is amongst the first to leverage Trade Credit Insurance.
• The revised framework was rolled out by IRDAI in November 2021, that allow banks to participate in this proposition.

 Banking & Finance

11. Union cabinet approves 4% hike in DA Under 7th Pay Commission

• The Cabinet has increased the dearness allowance (DA) and dearness relief by 4%, effective July 1, 2022.
• The additional instalment of DA and dearness relief (DR) is an increase of 4% over the existing rate of 34% of basic pay/pension.
• The combined impact on the exchequer on account of both DA and DR would be Rs 12,852.5 crore p.a.
• The increase in the DA and DR is based on the percentage increase in 12 monthly average of All India CPI for the period ending June, 2022.

 National & International Organizations

12. Zerodha’s founder, Nikhil Kamath tops Hurun's under 40 rich list

• Zerodha’s founder, Nikhil Kamath (36), with a wealth of Rs 17,500 crore, has topped a self-made rich list of individuals under 40 years.
• The list was released by the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2022.
• Ola Electric CEO, Bhavish Aggarwal, with a wealth of Rs 11,700 crore has been placed second in the list, followed by Divyank Turakhia (Media Network, with Rs 11,200 crore).
• The Hurun India rich list has 53 entrepreneurs under 40 years of age.

 National & International Appointments

13. Rajneet Kohli appointed as a new CEO of Britannia

• Britannia Industries has appointed Rajneet Kohli as executive director and chief executive officer effective September 26, 2022.
• He has a 25-years long experience in Asian Paints and Coca-Cola and Britannia.
• He joined Britannia from food services company Jubilant FoodWorks.
• Under his leadership, Jubilant FoodWorks has delivered sustained profitable growth and emerged as the largest QSR chain.
• The board has also elevated Varun Berry to executive vice-chairman and MD.