1.Indian Embassy in Beijing organizes Amrit Festival of Independence
The Indian Embassy in Beijing , the Chinese capital and the Consulate General of India in Hong Kong, Shanghai and Guangzhou organized the Nectar Festival of Independence, commemorating the history of India’s freedom struggle . The play ” The Awadh Quatrain ” , based on the 1857 conflict of the last ruler of Oudh , Nawab Wajid Ali Shah and his wife Begum Hazrat Mahal with the British East India Company , was staged on the occasion. Prime Minister Narendra Modi on March 12, 2021 at Sabarmati Ashram in Ahmedabad .Amrit Mahotsav ‘ ( India@75 ) was inaugurated. The ‘Amrit Mahotsav’ of Independence is a series of events organized by the Government of India to celebrate the 75th anniversary of India’s independence. This festival is being celebrated as a public festival with the spirit of public participation. It is to be noted that these programs are being organized from 75 weeks before the coming 15th August, 2022.
2.Union Cabinet amends Biofuel Policy
The Union Cabinet has recently amended the National Biofuel Policy 2018 . The target of achieving 20% ethanol blending in petrol has been set five years back . Thus, the new target is 2025-26 instead of 2030 . Other amendments to the Biofuel Policy are:
- Allowing for more feedstock for the production of biofuels.
- Production of biofuels permitted under ‘Make in India’ program in Special Economic Zones (SEZs), Export Oriented Units.
- Export of biofuels allowed in certain cases.
- Induction of new members to the National Biofuel Coordination Committee (NBCC), the agency coordinating the blending programme.
The National Biofuel Policy, 2018 focuses on Bioethanol, Biodiesel and Bio-CNG. The major components of this policy are Ethanol Blending Program (EPB), production of second generation (2G) ethanol, R&D in feedstock etc. The initial target was to achieve 20% blending by 2030. The central government announced premium rates for ethanol produced from sugar syrup, sugarcane juice and heavy molasses.
3.NEFT, RTGS facility introduced for post office savings account
The Department of Posts has recently introduced NEFT and RTGS for Post Office Savings Bank Account (POSB) holders.Facility is started. NEFT facility has been made available from May 18, 2022, while RTGS facility will be available from May 31, 2022. With the launch of this service, Post Office Savings Bank Account (POSB) holders can transfer money electronically. Transfer of funds from other bank accounts to POSB accounts in DoP-CBS (Department of Posts – Core Banking Solutions) will become easier. This will also help the customers to invest in POSB schemes easily. NEFT stands for National Electronic Funds Transfer and RTGS stands for Real-Time Gross Settlement. NEFT and RTGS are forms of electronic money transfer and are available 24X7 throughout the year. NEFT transactions are settled in batches every 30 minutes, whereas RTGS transactions are settled in real time and individually without netting or grouping.
4.India and Jordan sign MoU for cooperation in the fertilizer sector
During the visit of the Union Minister of Chemicals and Fertilizers, Dr. Mansukh Mandaviya to Jordan , India was given access to Phosphatic and Potassium Fertilizers .A Memorandum of Understanding was signed with Jordan to ensure the supply of Its purpose is to secure fertilizers for short and long term. For the current year, an MoU was signed with Jordan Phosphate Mining Company (JPMC) for the supply of 30 LMT Rock Phosphate, 2.50 LMT DAP, and 1 LMT Phosphoric Acid. A long term MoU was also signed with Jordan for 5 years for annual supply of 2.75 LMT Murate of Potash (MoP), which will be paid every year for 3. 25 LMT to be extended. The Union Minister of Chemicals and Fertilizers said that Jordan is India’s favorite country for the fertilizer sector and requested Jordan to announce India-specific conditions for the supply of fertilizers. The Union Minister along with other officials visited the mines and phosphoric acid production facilities of Jordan India Fertilizer Company (JIFCO) and Jordan Phosphate Mining Company (JPMC) set up by Indo-Jordan Company.
5.Cardless cash withdrawal facility to be made available at all ATMs: RBI
The Reserve Bank of India (RBI) has allowed all banks, ATM networks and White Label ATM Operators (WLAOs) to offer their customers Interoperable Card-less Cash Withdrawal (ICCW) across all ATMs in the country.directed to provide the option of For cardless cash withdrawal transactions, Unified Payments Interface (UPI) facility will be used for customer authorization and settlement through National Financial Switch (NFS) or ATM network. For this, the RBI has asked the National Payments Corporation of India (NPCI) to facilitate the integration of UPI with all banks and ATM networks. Currently, cardless cash withdrawal through ATMs is offered by only a few banks like ICICI and HDFC. This facility will ensure convenience to the customers and also reduce scams like card skimming, card cloning etc as there is no need to use debit or credit cards.
6.Center of Excellence to be created for Hyperloop Technology
The Ministry of Railways said that it will collaborate with the Indian Institute of Technology Madras (IIT Madras) to develop an indigenous hyperloop system . Ministry of Railways will also help in setting up of Center of Excellence for Hyperloop Technologies at IIT Madras . The center was built by IIT Madras from its existing Railway Research Center (CRR).will be done through This project is an important step towards ‘Make in India’ and ‘Atmanirbhar Bharat’ initiative. For this project, IIT Madras will receive funding of Rs 8.34 crore from Indian Railways. Along with financial support, Indian Railways will also help in formulation of safety standards. Also, access to the electrical testing facilities of the Railways will be provided. IIT Madras will be responsible for providing the design documentation for the pod, tube and track for the hyperloop system. Testing and performance data distribution for pod prototypes and vacuum tubes will also be done by IIT Madras.
7.Oxfam releases ‘Profiting from Pain’ report
According to a report titled ‘ Profiting from Pain ‘ released by Oxfam International , a new billionaire emerged every 30 hours during the Covid-19 pandemic . The report was released at the World Economic Forum, Davos , and the organization further pointed out that the cost of essential goods is rising faster than it has been seen in decades. The wealth of billionaires in the energy and food sectors is seeing an increase of $1 billion every two days. The report highlights that 573 people achieved billionaire status during the COVID-19 pandemic. According to this report, 263 million more people will reach the threshold of extreme poverty this year , In the first 24 months of the pandemic, the wealth of billionaires has increased more than in 23 years. The combined wealth of the world’s billionaires currently amounts to 13.9% of global GDP, a threefold increase from the 4.4% recorded in 2000.
8.Salil Parekh re-appointed as MD and CEO of Infosys
IT major Infosys announced that its board of directors has appointed Salil S Parekh as the company’s chief executive officer and managing director (CEO and MD) for a period of five years with effect from July 1, 2022, till March 31, 2027, as a shareholder. re-appointed subject to the approval of It is based on the recommendations of the Nomination and Remuneration Committee (NRC) and is subject to the approval of the shareholders.
9.Project WARDEC – India’s upcoming AI-powered wargame center
Army Training Command signed a Memorandum of Understanding (MoU) with Gandhinagar – based National Defense University (RRU) to develop ‘ Wargame Research and Development Centre ‘ in New Delhi . The project, which has been given a prototype name ‘ WARDEC ‘, will be the first of its kind in India to be a simulation-based training center that will use artificial intelligence (AI) to design virtual reality wargames.
10.Union Education Minister Shri Dharmendra Pradhan inaugurates North East Research Conclave 2022 at IIT, Guwahati
The Union Minister for Education and Skill Development Shri Dharmendra Pradhan inaugurated the North East Research Conclave (NERC) 2022 at IIT, Guwahati . In his address, Shri Pradhan said that this conclave will strengthen the linkages between industry, academia and policy makers and further strengthen the research, start-up and entrepreneurship ecosystem in the resource-rich North Eastern Region States and the country.
11.Anjali Pandey wins CII EXCON Committed Leader Award
Anjali Pandey , Engines and Components Business Unit Leader at Cummins India has been honored with the Committed Leader Award at CII EXCON 2022 in Bengaluru for her efforts to create a more diverse, equitable and inclusive workplace . Cummins views diversity, equity and inclusion (DE&I) as a competitive advantage and therefore a business imperative. Cummins India has taken proactive measures to increase its female representation over the years, resulting in an increase in the gender diversity ratio from 5 to 32 per cent over the past two decades, a significant achievement for a construction organisation.
12.Paytm announces a joint venture named ‘Paytm General Insurance Limited’
Paytm has announced a Joint Venture (JV) general insurance company named Paytm General Insurance Limited (PGIL) . Paytm has announced plans to infuse Rs 950 crore in PGIL over a period of 10 years and hold an upfront equity stake of 74 per cent in the JV. After the investment, Paytm General Insurance will become a subsidiary of Paytm. One97 Communications Limited (OCL) , owner of Paytm brand, India’s leading mobile payments and financial services company , said it has formed a joint venture general insurance company with a target to invest Rs 950 crore over a period of 10 years. Whereas, Vijay Shekhar Sharma is once again appointed as the CEO of Paytm for 5 years. Vijay Shekhar Sharma has been re-appointed as Managing Director and Chief Executive Officer for a term of five years from 19 December 2022 to 18 December 2027. The company said in a regulatory filing that the proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on May 20. Initially, One97 Communications (OCL) will hold 49 per cent stake in PGIL, while the remaining 51 per cent will be held by VSS Holding Private Limited (VHPL), headed by Vijay Shekhar Sharma, managing director of OCL. Post the investment, Paytm will hold 74 per cent stake in PGIL, which will reduce VHPL’s stake in the company to 26 per cent.
13.International Yoga Day to be celebrated on 21st June in Karnataka
The Union Ministry of AYUSH has confirmed the holding of the 8th International Day of Yoga (IDY) in the city of Mysore , known as the cultural capital and major historical destination of the state of Karnataka , on June 21 . Ministry of AYUSH has written a letter to Karnataka Chief Secretary P Ravikumar regarding the matter and has directed all concerned to issue necessary instructions to make arrangements for successful conduct of the main event of IDY-2022.
14.BCCI ties up with NFT partner for Women’s T20 Challenge
The Indian Cricket Board has adopted the idea of Non-Fungible Tokens (NFTs) . The Cricket Board has introduced cricket metaverse company Fancrase as its Official Associate Partner for the Women’s T20 Challenge. Fancrase is an institution in the cricket metaverse. The Board of Control for Cricket in India (BCCI) had for the longest time kept away from bringing NFT companies on board as sponsors and also asked franchises in the Indian Premier League (IPL) to ‘keep distance’. This came at a time when the International Cricket Council (ICC) and its other constituent entities began asking NFT groups to join through formal partnerships.
15.UP launches ‘Sambhav’ portal
Energy and Urban Development Minister Arvind Sharma has launched Sambhav (Systemic Administration Mechanism for Bringing Happiness and Value) portal for redressal of public grievances and monitoring programs and schemes of two departments in Uttar Pradesh . The portal, www.sambhav.up.gov.in , will serve as a platform for flagging the complaints received from the public to the officials who have been provided with the login ID. The officials have to feed their response and Action Taken Report (ATR).
16.Health Minister Mansukh Mandaviya addresses 75th World Health Assembly in Geneva
Health Minister Mansukh Mandaviya stressed the need to build a strong global supply chain to provide fair access to vaccines and medicines . Speaking at the 75th World Health Assembly in Geneva , the minister advocated for strengthening WHO by simplifying WHO’s vaccine and treatment approval processes and establishing a more robust global health security infrastructure. Shri Mandaviya reaffirmed India’s commitment to strengthen the global health security framework.
17.ONGC becomes first company to be traded on Indian Gas Exchange
State-owned Oil and Natural Gas Corporation (ONGC) has become the first gas producer to sell domestic gas on the Indian Gas Exchange , exchanging undisclosed quantities from the KG-DWN-98/2 block off India’s coast. ONGC said in a statement that it will gradually increase production. ONGC has created history by becoming India’s first Exploration and Production (E&P) company to trade domestic gas on the Indian Gas Exchange. Anurag Sharma, Director (Coastal) and In-Charge Marketing, ONGC conducted the first online trading on IGX, India’s first automated national level gas exchange. The gas exchanged came from ONGC Krishna Godavari 98/2 block, but did not identify the quantity sold.
18.Jet Airways gets DGCA nod to start commercial flights
DGCA (Directorate General of Civil Aviation) has given Air Operator Permit to Jet Airways . This will allow the airline to resume commercial flight operations after being shut down for more than three years. The approval comes after the airline operated proven flights for the safety regulator between May 15 and May 17. The airline aims to start operations in the second quarter i.e. between July and September. It will be a full-service carrier with business and economy classes.
19.Haryana wins Hockey India Sub-Junior Women’s National Championship
Haryana hockey team won the Hockey India Sub-Junior Women’s National Championship 2022 in Imphal by defeating Jharkhand hockey team 2-0 in the final . In the Hockey India Sub-Junior Women’s National Championship 2022 held in Imphal, Uttar Pradesh Hockey Team defeated Madhya Pradesh Hockey Team by 3-0 and secured the third position.
20.Pragyanand Rameshbabu defeated Magnus Carlsen for the second time in 2022
Indian Grand Master Pragyanand registered his second win in 3 months over world champion Magnus Carlsen as he stunned the Norwegian in the Chessable Masters online rapid chess tournament. 16-year-old Pragyanand had defeated Magnus Carlsen for the first time in the online rapid chess tournament AirThings Masters in February. Carlsen was second on the leaderboard after China’s Wei Yi on the second day of the tournament. World’s youngest Grand Master Abhimanyu Mishra is also a part of the 16-member tournament.
21.Indian Commonwealth Day 2022
In most of the 54 Commonwealth countries, Commonwealth Day is traditionally celebrated on the second Monday of March , with the British Queen giving a speech over the radio. However, India and some other countries observe it on 24 May .Celebrate. The theme of Commonwealth Day 2022 is ‘Providing a Common Future’ – which highlights how the fifty-four member states of the Commonwealth family are helping to achieve goals such as fighting climate change, promoting good governance and business reform. To ‘Innovate, Connect and Change’. Commonwealth Day was earlier known as Empire Day. Empire Day was celebrated for the first time since the death of Queen Victoria, who died on January 22, 1901. The first Empire Day was celebrated on May 24, 1902, which was the Queen’s birthday. However, it was celebrated in many schools in the British Empire before it was formally recognized as an annual event. By the 1950s, the British Empire had begun to disintegrate as many colonies gained independence and Empire Day lost its importance. Although, Most of them maintained ties with Britain and established the Commonwealth of Nations. In 1958, Empire Day was renamed Commonwealth Day.
